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avaifable to the City to pursue in the event that there is a breach or default under this Contract. No waiver by City of any breach or default under this Contract shall be deemetf to be a waiver of any other subsequent breach thereof ar default hereunder. 8. Binding Effect of Contract. The Owner hereby subjects the Historic Property described in Exhibit "A° hereto to the covenants, reservations and restr'rctians 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 oovenants running with the land and shall pass to and be binding upon the 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 canveying the Historic Property, o� 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, deecl 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 concem the land in that Owner's legal interest in the Historic Property is rendered less valuable thereby. City and Owner hereby further decfare 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. Bindinq On Successors In Interest. All of the Contracts, rights, covenants, resenrations and restrictions contained in this Contract shall be binding upon and shall REV:11-22-13 VR ATTY/AGR/2013.221/1052 EDGEWOOD ROAD MILLS ACT CONTRACT Page 6 of 13