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the event that there is a breach or default under this Contract. No waiver by City of any breach <br />or default under this Contract shall be deemed to be a waiver of any other subsequent breach <br />thereof or default hereunder. <br />S. Bindino Effect of Contract. Owner hereby subjects the Historic Property to the <br />covenants, reservations and restrictions as set forth in this Contract. City and Owner hereby <br />declare their specific intent that the covenants, reservations and restrictions as set forth herein <br />shall be deemed covenants running with the land and shall pass to and be binding upon <br />Owner's successors and assigns in title or interest to the Historic Property. Each and every <br />contract, deed or other instrument hereinafter executed, covering or conveying the Historic <br />Property, or any portion thereof, shall conclusively be held to have been executed, delivered <br />and accepted subject to the covenants, reservations, and restrictions expressed in this Contract <br />regardless of whether such covenants, reservations, and restrictions are set forth in such <br />contract, deed or other instrument. <br />City and Owner hereby declare their understanding and intent that the burden of the <br />covenants, reservations and restrictions set forth herein touch and concern the land in that <br />Owner's legal interest in the Historic Property is rendered less valuable thereby. City and <br />Owner hereby further declare their understanding and intent that the benefit of such covenants, <br />reservations and restrictions touch and concern the land by enhancing and maintaining the <br />historic characteristics and significance of the Historic Property for the benefit of the public and <br />Owner. <br />9. Bindino On Successors In Interest. All of the Contracts, rights, covenants, <br />reservations and restrictions contained in this Contract shall be binding upon and shall inure to <br />the benefit of the parties herein, their heirs, successors, legal representatives, assigns and all <br />persons acquiring any part or portion of the Historic Property, whether by operation of law or in <br />any manner whatsoever. <br />REV: 08-31-16 JS <br />Page 7 of 15 <br />ATTY/AGR.2016.247/Redwood City - 32 King Street Mills Act Contract <br />