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NOW THEREFORE, the Declarant declares that the Property described above is held and will be held, transferred, encumbered, used, sold, conveyed, leased and occupied subject to the covenants, restrictions and limitations set forth in this Declaration, all of which are in accordance with the requirements of the DDA. All of the restrictions, covenants and limitations will run with the land and will be binding on all parties having or acquiring any right, title or interest in the Property described above or any part thereof, and to any improvements located thereon, and will enure to the benefit of the Agency. Each grantee of a conveyance or purchase�r under a contract or agreement of sale covering any right, title or interest in any part of the Property, by accepting a deed or a contract of sale or agreement of purchase, accepts the document subject to, and agrees to be bound by, any and all of the restrictions, covenants and limitations set forth in this Declaration. 1 . Capitalized Terms . All capitalized terms not otherwise defined herein shall have the same meaning ascribed to them by the DDA, unless the context clearly indicates a different meaning. 2 . Redevelopment Covenants . The covenants which shall bind the Property and the improvements thereon are as follows: (a) The work of the redevelopment of the Property or part or parts thereof as provided in the Agreement shall be implemented as provided by the Agreement and in the time frames set forth therein. This covenant shall continue tmt�for fortv f ive (4 5) vears f rom the date of ��recordation hereof . (b) There shall be no discrimination against or segregation of any person or group of persons on account of race, color, creed, religion, sex, marital status, national origin or ancestry in the development, construction, sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Property, the Project, or any to be conveyed therein, nor shall the Declarant or any grantees or any persons claiming under or through the Declarant establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees in the Property or the Project . This covenant shall remain in effect without limitation as to time . REDW\0006\DOC\013-7 EXH. "D" - 2 1\il\08 940 law