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available 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 deemed to be a waiver of any other subsequent breach thereof or default hereunder. 8. Binding Effect of Contract. The Owner herBby subjects the Historic Property described in E�chibit "A" hereto to the c�ovenants, reservations and restricdons as set forth in this Cor�trac�. Cit�r and Owner hereby declare their specific irrtent that�e covenants, reservations and restrictions as set forth her�ein shall be deemed oovenants running with the land and shall pass to arxf be binding upon the Owners successors and assigns in title or interest to the Historic Property. Each and every contract, deed or ather instrument hereinafter executed, covering or conveying the Histo�c Property, or any portion thereof, shall condusively 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 oonVact, deeci or other instrument. Ciiy and Owner hereby dedare their understanding and intent that the burden of the covenants, reservations and r+estrictions set forth herein touch and conoern the land in that Owners 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 concem 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 Cantracts, rights, covenants, reservatians and restrictions contained in this Contract shall be binding upon and shall REV:ii-iz-13 VR Page 6 of 13 ATTY/AGR.2013.222J842 Edgewood Road Mills Act Contract