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available to the City to pursue in the event that there is a breach or default under this <br /> Contract. No waiver by City of any breach or default under this Contract shall be <br /> deemed to be a waiver of any other subsequent breach thereof or default hereunder. <br /> 8. Binding Effect of Contract. The Owner hereby subjects the Historic <br /> Property described in Exhibit "A" hereto to the covenants, reservations and restrictions <br /> as set forth in this Contract. City and Owner hereby declare their specific intent that the <br /> covenants, reservations and restrictions as set forth herein shall be deemed covenants <br /> running with the land and shall pass to and be binding upon the Owner's successors <br /> and assigns in title or interest to the Historic Property. Each and every contract, deed or <br /> other instrument hereinafter executed, covering or conveying the Historic Property, or <br /> any portion thereof, shall conclusively be held to have been executed, delivered and <br /> accepted subject to the covenants, reservations, and restrictions expressed in this <br /> Contract regardless of whether such covenants, reservations, and restrictions are set <br /> forth in such contract, deed or other instrument. <br /> City and Owner hereby declare their understanding and intent that the burden of <br /> the covenants, reservations and restrictions set forth herein touch and concern the land <br /> in that Owner's legal interest in the Historic Property is rendered less valuable thereby. <br /> City and Owner hereby further declare their understanding and intent that the benefit of <br /> such covenants, reservations and restrictions touch and concern the land by enhancing <br /> and maintaining the historic characteristics and significance of the Historic Property for <br /> the benefit of the public and Owner. <br /> 9. Bindinq On Successors In Interest. All of the Contracts, rights, covenants, <br /> reservations and restrictions contained in this Contract shall be binding upon and shall <br /> REV: 11-22-13 VR <br /> ATTY/AGR/2013.221/1052 EDGEWOOD ROAD MILLS ACT CONTRACT <br /> Page 6 of 13 <br />