Common use of Covenants Binding on Successors and Assigns Clause in Contracts

Covenants Binding on Successors and Assigns. This Covenant is and shall be binding upon the Property and each Affordable Unit and shall run with the land as of the Effective Date through the Affordability Period. The rights and obligations of District, Developer, Affordable Unit Owner, and their respective successors, heirs, and assigns shall be binding upon and inure to the benefit of the foregoing parties and their respective successors, heirs, and assigns; provided however that all rights of District pertaining to the monitoring and/or enforcement of the obligations of Developer or Affordable Unit Owner hereunder shall be retained by District, or such designee of the District as the District may so determine. No Sale, transfer or foreclosure shall affect the validity of this Covenant, except as provided in Article VIII.

Covenants Binding on Successors and Assigns. This Covenant is and shall be binding upon the Property and each Affordable Unit and shall run with the land as of the Effective Date through the Affordability Period. The rights and obligations of the District, the Developer, Affordable Unit Owner, and their respective successors, heirs, and assigns shall be binding upon and inure to the benefit of the foregoing parties and their respective successors, heirs, and assigns; provided however that all rights of the District pertaining to the monitoring and/or enforcement of the obligations of the Developer or Affordable Unit Owner hereunder shall be retained by District, or such designee of the District as the District may so determine. No Sale, transfer or foreclosure shall affect the validity of this Covenant, except as provided in Article VIII.

Covenants Binding on Successors and Assigns. This Covenant is and shall be binding upon the Property and each Affordable Inclusionary Unit and shall run with the land as of for the Effective Date through the Affordability Periodperiod provided herein. The rights and obligations of the District, Developer, Affordable Unit the Inclusionary Development Owner, Inclusionary Unit Owner and their respective successors, heirs, and assigns shall be binding upon and inure to the benefit of the foregoing parties and their respective successors, heirs, and assigns; provided however that all rights of the District pertaining to the monitoring and/or enforcement of the obligations of Developer the Inclusionary Development Owner or Affordable Inclusionary Unit Owner hereunder shall be retained by District, or such designee of the District as the District may so determine. No Sale, transfer or foreclosure shall affect the validity of this Covenant, except as provided in Article VIII.