RecDoc 2019-109320 - Laserfiche WebLink

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8. Binding Effect of Contract. Owner hereby subjects the Historic Property to the covenants, reservations and restrictions as set forth in this Contract. City and Owner hereby declare their specific intent that the covenants, reservations and restrictions as set forth herein shall be deemed covenants running with the land and shall pass to and be binding upon Owner's successors and assigns in title or interest to the Historic Property. Each and every contract, deed or other instrument hereinafter executed, covering or conveying the Historic Property, or any portion thereof, shall conclusively be held to have been executed, delivered and accepted subject to the covenants, reservations, and restrictions expressed in this Contract regardless of whether such covenants, reservations, and restrictions are set forth in such contract, deed or other instrument. City and Owner hereby declare their understanding and intent that the burden of the covenants, reservations and restrictions set forth herein touch and concern the land in that Owner's legal interest in the Historic Property is rendered less valuable thereby. City and Owner hereby further declare their understanding and intent that the benefit of such covenants, reservations and restrictions touch and concern the land by enhancing and maintaining the historic characteristics and significance of the Historic Property for the benefit of the public and Owner. 9. Binding On Successors In Interest. All of the Contracts, rights, covenants, reservations and restrictions contained in this Contract shall be binding upon and shall inure to the benefit of the parties herein, their heirs, successors, legal representatives, assigns and all persons acquiring any part or portion of the Historic Property, whether by operation of law or in any manner whatsoever. 10. Indemnification. Owner shall indemnify, defend, and hold harmless the City of Redwood City and all of its boards, commissions, committees, departments, agencies, agents and employees (for purposes of this Section 10, individual and collectively, "City") from and against any and all liabilities, losses, costs, claims, judgments, settlements, damages, liens, REV: 12-09-19 PR AM/AGR.2019.309/Friday Trust (Page 7 of 17)