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for this Project have been made on the condition that Owner and all subsequent owners, or other <br />successors and assigns of the Property and/or Project lease and rent the Affordable Units in <br />accordance with the terns and conditions stipulated in Sections 4, 5 and 6 of this Agreement for <br />a term of 55 consecutive years commencing upon the date that the Project is first occupied. <br />8.1.3 Subsequent Assignment. As used in this Agreement, the term "Developer" shall <br />be deemed to include any such transferee or assignee after the date such sale, transfer, or <br />assignment occurs in compliance with this Agreement. <br />8.1.4 Unpermitted Assignments Void. Any sale, transfer, or assignment made in <br />violation of this Agreement shall be null and void, and City shall have the right to pursue any <br />right or remedy at law or in equity to enforce the provisions of the restriction against unpermitted <br />sales, transfers, or assignments. <br />8.2 Covenants Run with the Land. The Property shall be held, sold, conveyed, hypothecated, <br />encumbered, used, occupied and improved subject to the covenants, conditions, and restrictions <br />set forth herein. The covenants, conditions, restrictions, reservations, equitable servitudes, liens <br />and charges set forth in this Agreement shall run with the Property and shall be binding upon <br />Developer and all persons having any right, title or interest in the Property, or any part thereof, <br />their heirs, and successive owners and assigns, shall inure to the benefit of City and its <br />successors and assigns, and may be enforced by City and its successors and assigns. The <br />covenants established in this Agreement shall, without regard to technical classification and <br />designation, be binding for the benefit and in favor of City and its successors and assigns, and <br />the parties hereto expressly agree that this Agreement and the covenants herein shall run in favor <br />of City. City is deemed the beneficiary of the terms and provisions of this Agreement and of the <br />covenants running with the land, for and in its own right and for the purposes of protecting the <br />interests of the community and other parties, public or private, in whose favor and for whose <br />benefit this Agreement and the covenants running with the land have been provided. Developer <br />hereby declares its understanding and intent that the burden of the covenants set forth herein <br />touch and concern the land and that the Developer's interest in the Property is rendered less <br />valuable thereby. Developer hereby further declares its understanding and intent that the benefit <br />of such covenants touch and concern the land by enhancing and increasing the enjoyment and <br />use of the Property by the citizens of City and by furthering the health, safety, and welfare of the <br />residents of City. <br />MISCELLANEOUS <br />9.1 Entire Agreement. This Agreement and all of its exhibits and attachments set forth <br />and contain the entire understanding and agreement of the parties with respect to the Density Bonus <br />Agreement, and there are no oral or written representations, understandings or ancillary covenants, <br />undertakings or agreements which are not contained or expressly referred to herein. No testimony <br />or evidence of any such representations, understandings or covenants shall be admissible in any <br />proceeding of any kind or nature to interpret or determine the terms or conditions of this <br />Agreement. <br />16 <br />