6.C.(3) Contract for Sale of Land

Home Browse Search

B. Enforceability of Covenants. The parties agree and the Deed shall expressly state that the covenants in this Section shall be covenants running with the land and, except only as otherwise specifically provided in the Contract, shall be binding for the benefit of and shall be enforceable by: 1. the Commission; 2. its successors and assigns; 3. the City of South Bend, Indiana; 4. any successors in interest to the Property. The covenants shall be enforceable against: 1. the Developer; 2. its successors and assigns; 3. every successor in interest to the Property; and 4. any party in possession or occupancy of the Property. The parties further agree that the covenants in Subsection VI(A)(1) shall remain in effect from the date of the Deed until December 31, 2020. The covenants in subsection VI(A)(2) shall remain in effect without limitation as to time but shall bind the Developer, each successor in interest to the Property, and each party in possession only for the time that the party or successor shall have title to, an interest in, or possession of the Property. The terms and uses specified in the Plan and land use shall include the land and all buildings, housing and other requirements or restrictions of the Plan pertaining to such land uses and improvements to the Property. C. Beneficiaries of Covenants. The parties also agree that the Commission, its successors and assigns and the City of South Bend, Indiana shall be deemed beneficiaries of the covenants in this Section. The Deed shall state that the covenants shall run in favor of the Commission for the entire period the covenants shall be in force and effect, regardless of whether the Commission has at any time been, or is the owner of any land or interest in any land in favor of which such covenants relate. If the above covenants are breached, the Commission shall have all of the rights and remedies to which they or any other beneficiary of the covenant may be entitled. 6