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8. Binding_ 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 declare <br />their specific intent that the covenants, reservations and restrictions as set forth herein shall be <br />deemed covenants running with the land and shall pass to and be binding upon Owner's successors <br />and assigns in title or interest to the Historic Property. Each and every contract, deed or other <br />instrument hereinafter executed, covering or conveying the Historic Property, or any portion thereof, <br />shall conclusively be held to have been executed, delivered and accepted subject to the covenants, <br />reservations, and restrictions expressed in this Contract regardless of whether such covenants, <br />reservations, and restrictions are set forth in such contract, deed or other instrument. <br />City and Owner hereby declare their understanding and intent that the burden of the covenants, <br />reservations and restrictions set forth herein touch and concern the land in that Owner's legal <br />interest in the Historic Property is rendered less valuable thereby. City and Owner hereby further <br />declare their understanding and intent that the benefit of such covenants, reservations and <br />restrictions touch and concern the land by enhancing and maintaining the historic characteristics and <br />significance of the Historic Property for the benefit of the public and Owner. <br />9. Binding 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 the <br />benefit of the parties herein, their heirs, successors, legal representatives, assigns and all persons <br />acquiring any part or portion of the Historic Property, whether by operation of law or in any manner <br />whatsoever. <br />10. Indemnification. Owner shall indemnify, defend, and hold harmless the City of <br />Redwood City and all of its boards, commissions, committees, departments, agencies, agents and <br />employees (for purposes of this Section 10, individual and collectively, "City") from and against any <br />and all liabilities, losses, costs, claims, judgments, settlements, damages, liens, fines, penalties and <br />expenses incurred in connection with or arising in whole or in part from: (a) any accident, injury to or <br />death of a person, loss of or damage to property occurring in or about the Historic Property; (b) the <br />REV: 10-25-24 JB <br />ATTY/AGR.2024.205/Staya Chandrasekr (1200 Arguello—Historic Preservation Agreement) (Page 7 of 14) <br />