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b. The City and Owner hereby declare their specific intent that the covenants, <br />reservations and restrictions as set forth herein shall be deemed covenants running with the land <br />and shall pass to and be binding upon the Owner's successors and assigns in title or interest to <br />the Historic Property. Every contract, deed, or other instrument hereinafter executed, covering or <br />conveying the Historic Property or any portion thereof, shall conclusively be held to have been <br />executed, delivered, and accepted subject to the tenants, restrictions, and reservations expressed <br />in this Agreement regardless of whether such covenants, restrictions and reservations are set <br />forth in such contract, deed, or other instrument. <br />8, No Compensation. <br />Owners she not receive any payment from the City in consideration of the obligation <br />imposed under this Agreement, it being recognized that the consideration for the execution of <br />this Agreement is the substantial public benefit to be derived therefrom and the advantage that <br />will accrue to the Owner as a result of the effect upon the assessed value of the property on the <br />account of the restrictions on the use and preservation of the property. <br />9. Notice. <br />Any notice required by the terms of this Agreement shall be sent to the address of the <br />respective parties as specified below or at other addresses that may be later specified by the <br />parties hereto. <br />City: City of Santa Ana <br />Attn: City Clerk <br />20 Civic Center Plaza (NI -30) <br />Santa Ana, CA 92702 <br />Owners: Dennis K. McClellan and Steven E. Deggendarf <br />2435 N. Riverside Drive <br />Santa Aria, CA 42706 <br />10. General Provisions. <br />ci. None of the terms, provisions, or conditions of this Agreement shall be deemed to <br />create a partnership between the parties hereto and any of their heirs, successors, or assigns, nor <br />shall such terms, provisions or conditions cause them to be considered joint ventures or members <br />of any joint enterprise. <br />}7. The Owners agree to and shall indemnify and hold the City and its elected anil <br />appointed officials, officers, agents, and employees harmless from liability for damage or claims <br />for damage for personal injuries, including death, and claims ,for property damage which may <br />