Common use of Agreement to Run with the Land Clause in Contracts

Agreement to Run with the Land. It is the intention of the parties hereto that this Declaration, and all of the covenants and restrictions imposed upon the Restricted Owners pursuant to this Declaration, shall run with the land affected thereby, and shall apply to and bind the successors (whether by operation of law or otherwise) and assigns of the respective Restricted Owners. Without limiting the generality of the foregoing, it is the intention of all of the Owners that all mortgagees-in-possession, receivers, purchasers at foreclosure sales or grantees pursuant to deeds or assignments in lieu of foreclosure, and all of their respective successors and assigns (whether by operation of law or otherwise, and including the City of New York or any other Governmental Authority), shall be bound by, and shall in all events take its or their interests in the Center subject to, all of the covenants and restrictions imposed on the Restricted Owners by this Declaration.