Common use of Description of Covenants Clause in Contracts

Description of Covenants. The covenants to be imposed upon Redeveloper, its successors and assigns, are set forth below, and shall be recorded in the form of a Declaration of Covenants and Restrictions (Exhibit B) as of the date of conveyance of the Township Properties to the Redeveloper and/or acquisition of any additional properties within the Project Site. The covenants and restrictions shall remain in effect for the period set forth in Section 7.2 below: (a) in connection with its use or occupancy of the Project, not effect or execute any covenant, agreement, lease, conveyance or other instrument whereby any portion of the Project is restricted upon the basis of age, race, color, creed, religion, ancestry, national origin, sex or familial status, and Redeveloper, its successors and assigns, shall comply with all applicable laws prohibiting discrimination or segregation by reason of age, race, color, creed, religion, ancestry, national origin, sex or familial status. (b) comply with the applicable provisions and public purposes of the Redevelopment Law and all obligations under this Agreement and shall at all times develop, design, finance, construct and operate the Project or cause the Project to be developed, designed, financed, constructed and operated pursuant to the conditions and requirements of Applicable Laws, Governmental Approvals, this Agreement and the Redevelopment Plan. All uses to which the Project may be devoted are controlled by the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement and that under no circumstances can the Redeveloper undertake any construction or development of the Project not in accordance with the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement. (c) use diligent efforts to obtain all Governmental Approvals requisite to the construction and development of the Project including evidence satisfactory to the Township that its use of the Project is in compliance with this Agreement, the Redevelopment Plan and all Applicable Laws, and use diligent and commercially reasonable efforts to ensure timely performance of its obligations hereunder, including but not limited to Completion of Construction of the Project within the time periods specified in the Project Schedule. (d) not encumber, hypothecate or otherwise use the Project, or any part thereof, as collateral for an unrelated transaction; nor sell, lease or otherwise transfer all or any portion of a Project without the Township’s consent, except as otherwise specifically set forth in this Agreement. (e) during construction of the Project, take commercially reasonable steps to minimize or mitigate impacts on the surrounding neighborhood (such as, for example, noise and dust controls), and keep debris and/or waste materials containerized and/or stored and disposed of, all within normal industry standards. (f) keep and maintain in good condition any improvements required under the Governmental Approvals, including but not limited to any landscaping required to be planted or cause an entity in control of the Project (i.e. condominium or homeowner association) to maintain such improvements.

Description of Covenants. The covenants to be imposed upon Redeveloper, its successors and assigns, assigns are set forth below, and shall be recorded in the form of a Declaration of Covenants and Restrictions (attached hereto as Exhibit B) E against the Edison Battery Parcels as of the date Commencement of conveyance of Construction with respect thereto, with the Township Properties to the Redeveloper and/or acquisition of any additional properties within the Project Site. The covenants and restrictions shall to remain in effect for the period set forth in Section 7.2 below: (aA) in connection with its use or occupancy of the Phase 1 Project, not effect or execute any covenant, agreement, lease, conveyance or other instrument whereby any portion of the Phase 1 Project is restricted upon the basis of age (except as may be permitted pursuant to 42 USC 3607(b)(2)(C), the federal Fair Housing Act for age-restricted residential units), race, color, creed, religion, ancestry, national origin, sex or familial status, and Redeveloper, its successors and assigns, shall comply with all applicable laws prohibiting discrimination or segregation by reason of age, race, color, creed, religion, ancestry, national origin, sex or familial status. (bB) comply with the applicable provisions and public purposes of the Redevelopment Law and all obligations under this Agreement and shall at all times develop, design, finance, construct and operate the Phase 1 Project or cause the Phase 1 Project to be developed, designed, financed, constructed and operated pursuant to the conditions and requirements of Applicable Laws, Governmental Approvals, this Agreement and the Redevelopment Plan and for a period of thirty (30) years from the issuance of a Certificate of Completion shall construct no other use except that established in the Redevelopment Plan, provided however, that Redeveloper shall not be deemed to be in breach if Redeveloper diligently contests, in good faith and by appropriate proceedings, such compliance with any of the aforesaid Applicable Laws. All uses to which the Phase 1 Project may be devoted are controlled by the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement and that under no circumstances can the Redeveloper undertake any construction or development of the Phase 1 Project not in accordance with the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement. (cC) in order to effectuate the purposes of this Agreement, make, execute, acknowledge and deliver any contracts, orders, receipts, writings and instructions with any other persons, firms or the Township and in general do all things which may be requisite or proper for the construction and development of the Project in accordance with this Agreement, the Redevelopment Plan, Governmental Approvals and Applicable Laws, provided however, that Redeveloper shall not be deemed to be in breach of this covenant if Redeveloper diligently contests, in good faith and by appropriate proceedings, such compliance with any of the aforesaid Applicable Laws. (D) use diligent efforts to obtain all Governmental Approvals requisite to the construction and development of the Phase 1 Project including evidence satisfactory to the Township that its use of the Phase 1 Project is in compliance with this Agreement, the Redevelopment Plan and all Applicable Laws, and use diligent and commercially reasonable efforts to ensure timely performance of its obligations hereunder, including but not limited to Completion of Construction of the Phase 1 Project within the time periods specified in the Project Construction Schedule. (dE) to use diligent efforts to obtain all Governmental Approvals authorizing the occupancy and uses of the Phase 1 Project for the purposes contemplated herein. Redeveloper shall enter into such other commercially reasonable agreements with respect to its development, financing, construction and management and operation of the Phase 1 Project, containing such provisions as may be required by Applicable Law or as may reasonably be required by Governmental Approvals. (F) except as otherwise permitted hereunder, not encumbersuspend or discontinue the performance of its obligations under this Agreement (other than in the manner provided for herein) for any reason, hypothecate including, without limiting the generality of the foregoing, any acts or otherwise use the Projectcircumstances that may constitute failure of consideration, commercial frustration of purpose, or any part thereof, as collateral for an unrelated transaction; nor sell, lease damage to or otherwise transfer all or any portion destruction of a Project without the Township’s consent, except as otherwise specifically set forth in this AgreementPhase 1 Project. (eG) during diligently undertake the construction and development of each individual component of the Project, take Phase 1 Project throughout the Construction Period and to use commercially reasonable steps efforts to minimize or mitigate impacts on the surrounding neighborhood (such as, for example, noise and dust controls), and keep debris and/or waste materials containerized and/or stored and disposed of, all within normal industry standards. (f) keep and maintain in good condition any improvements required under the Governmental Approvals, including but not limited to any landscaping required to be planted or cause an entity in control complete each component of the Phase 1 Project (i.e. condominium on or homeowner association) to maintain such improvementsbefore the applicable Completion Date.

Description of Covenants. The following covenants to be and restrictions are imposed upon Redeveloper, its successors and assigns, and are set forth below, and intended to run with the land until a Certificate of Completion has been issued for the Project. They shall be recorded substantially in the form of a Declaration of Covenants and Restrictions (annexed hereto and made a part hereof as Exhibit B) as , upon execution of this Redevelopment Agreement by the date of conveyance of the Township Properties to the Redeveloper and/or acquisition of any additional properties within the Project Site. The covenants and restrictions shall remain in effect for the period set forth in Section 7.2 belowParties: (a) Redeveloper shall construct the Project on the Property in accordance with, and subject to the terms of, the Redevelopment Plan, this Redevelopment Agreement, and all Applicable Laws and Governmental Approvals; (b) In connection with its use or occupancy of the Project, Redeveloper shall not effect or execute any covenant, agreement, lease, conveyance or other instrument whereby any portion of the Project Property is restricted upon the basis of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status, and Redeveloper, its successors and assigns, shall comply with all applicable laws Applicable Laws prohibiting discrimination or segregation by reason of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status.; (bc) comply Subject to and in accordance with the applicable provisions terms hereof, Redeveloper shall, upon Completion of Construction, obtain a Certificate of Occupancy and public purposes all other Government Approvals required for the occupancy and uses of the Redevelopment Law Property for the purposes contemplated hereby; (d) Subject to and all obligations under this Agreement and in accordance with the terms hereof, Redeveloper shall at all times develop, design, finance, construct and operate the Project or cause the Project to be developed, designed, financed, constructed constructed, operated and operated pursuant maintained at its sole cost and expense; (e) Subject to and in accordance with the conditions terms hereof, Redeveloper shall develop, finance, construct, operate and requirements of maintain the Project consistent with Applicable Laws, Governmental Government Approvals, this Agreement and the Redevelopment Plan. All uses to which the Project may be devoted are controlled by the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement and that under no circumstances can including the Redeveloper undertake any construction or development of the Project not in accordance with the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement. (c) obligation to use diligent efforts to obtain all Governmental Approvals requisite to the construction and development of the Project including evidence satisfactory to the Township that its use of the Project is in compliance with this Agreement, the Redevelopment Plan and all Applicable Laws, and use diligent and commercially reasonable efforts to ensure timely performance of its obligations hereunder, including but not limited to Completion of Construction of the Project within the time periods specified meet all deadlines and timeframes set forth in the Project Schedule.this Redevelopment Agreement; (df) Prior to the issuance of a Certificate of Completion, Redeveloper shall not encumber, hypothecate or otherwise use the ProjectProperty, or any part thereof, thereof as collateral for an any transaction unrelated transactionto the Project; (g) Redeveloper will promptly pay any and all taxes, annual service charges or other charges under the Financial Agreement, special assessments or similar obligations when owed with respect to the Property and any other property owned by Redeveloper situated in the Township; nor sell, lease or otherwise transfer all or any and (h) With the exception of the portion of a Project without the Township’s consent, except as otherwise specifically set forth in this Agreement. (e) during construction Abbey shown on Figure 4 of the ProjectRedevelopment Plan, take commercially reasonable steps to minimize or mitigate impacts on the surrounding neighborhood (such as, for example, noise and dust controls), and keep debris and/or waste materials containerized and/or stored and disposed of, all within normal industry standards. (f) keep and maintain in good condition any improvements required under the Governmental Approvals, including but not limited to any landscaping required to which will be planted or cause an entity in control demolished as part of the Project (i.e. condominium or homeowner association) construction, the remaining Abbey structure shall not be demolished except in connection with the refurbishment of certain areas which may need to be demolished and/or rebuilt because of structural deficiencies. Every effort, however, shall be made to maintain such improvementsthe historic integrity of the Abbey structure. All structural elements of the Abbey shall be maintained in good and/or acceptable condition for occupancy as required by Township Code during the Term of the Financial Agreement. The term “structural elements” shall include, but not be limited to the roof, load bearing walls, mechanical systems, the exterior façade and the integrity of all windows to repel water infiltration within the building.

Description of Covenants. The covenants to be imposed upon Redeveloper, its successors and assigns, are set forth below, and shall be recorded in the form of a Declaration of Covenants and Restrictions (Restrictions, a copy of which is attached hereto as Exhibit B) as of the date of conveyance of the Township Properties to , shall set forth that the Redeveloper and/or acquisition of any additional properties within the Project Site. The covenants and restrictions shall remain in effect for the period set forth in Section 7.2 belowits successors and assigns shall: (a) Construct the Project on the Property in accordance with the Redevelopment Plan and the terms of this Agreement. (b) Other than to entities participating in the Project and its supporting components, including, but not limited to RWJBH and its affiliates, and then, only upon notice to the Authority, not sell, lease or otherwise transfer all or any portion of the Property without the written consent of the Authority; provided, however, that a Certificate of Occupancy shall constitute written approval for the sale or lease of space for which such Certificate of Occupancy has been issued. (c) In connection with its use or occupancy of the Project, not effect or execute any covenant, agreement, lease, conveyance or other instrument whereby any portion of the Project Property is restricted upon the basis of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status, and Redeveloper, its successors and assigns, shall comply with all applicable laws Applicable Laws prohibiting discrimination or segregation by reason of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status. (bd) comply with Upon Completion of Construction, obtain all Governmental Approvals required authorizing the applicable provisions occupancy and public purposes uses of the Redevelopment Law and all obligations under this Agreement and shall at all times develop, design, finance, construct and operate Property for the Project or cause purposes contemplated hereby. (e) Cause the Project to be developed, designedfinanced and constructed. (f) Develop, financed, constructed finance and operated pursuant to construct the conditions and requirements of Project consistent with Applicable Laws, Governmental Approvals, this Agreement and the Redevelopment Plan. All uses to which the Project may be devoted are controlled by the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement and that under no circumstances can including the Redeveloper undertake any construction or development of the Project not in accordance with the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement. (c) obligation to use diligent efforts to obtain all Governmental Approvals requisite to the construction and development of the Project including evidence satisfactory to the Township that its use of the Project is in compliance with this Agreement, the Redevelopment Plan and all Applicable Laws, and use diligent and commercially reasonable efforts to ensure timely performance of its obligations hereunder, including but not limited to Completion of Construction of the Project within the time periods specified in the Project Schedule. (d) not encumber, hypothecate or otherwise use the Project, or any part thereof, as collateral for an unrelated transaction; nor sell, lease or otherwise transfer meet all or any portion of a Project without the Township’s consent, except as otherwise specifically deadlines and timeframes set forth in this Agreement. (eg) during construction of Not encumber, hypothecate or otherwise use the Property, or any part thereof as collateral for any transaction unrelated to the Project, take commercially reasonable steps to minimize or mitigate impacts on the surrounding neighborhood (such as, for example, noise and dust controls), and keep debris and/or waste materials containerized and/or stored and disposed of, all within normal industry standards. (fh) keep Pay, in accordance with this Agreement, the Authority Costs, the Redevelopment Fee and maintain in good condition any improvements required under and all taxes, service charges or similar obligations owed with respect to the Governmental Approvals, including but not limited to any landscaping required to be planted or cause an entity in control of the Project (i.e. condominium or homeowner association) to maintain such improvementsProject.

Description of Covenants. The following covenants to be and restrictions are imposed upon Redeveloper, its successors and assigns, are set forth belowupon, and are intended to run with, the land until a Certificate of Completion has been issued for the Project, except as otherwise provided. They shall be recorded substantially in the form of a Declaration of Covenants and Restrictions (annexed hereto as Exhibit B) as of the date of conveyance of the Township Properties to the Redeveloper and/or acquisition of any additional properties within the Project Site. The covenants and restrictions shall remain in effect for the period set forth in Section 7.2 below:E. (a) Redeveloper shall construct the Project on the Project Area in accordance with, and subject to the terms of, the Redevelopment Plan, this Redevelopment Agreement, and all Applicable Laws and Governmental Approvals; (b) Except for Permitted Transfers, and subject to the terms hereof, prior to the issuance of a Certificate of Completion, the Redeveloper shall not effect a Transfer without the written consent of the Town, which shall not be unreasonably withheld, conditioned or delayed; (c) In connection with its use or occupancy of the Project, the Redeveloper shall not effect or execute any covenant, agreement, lease, conveyance or other instrument whereby any portion of the Project Area is restricted upon the basis of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status, and the Redeveloper, its successors and assigns, shall comply with all applicable laws Applicable Laws prohibiting discrimination or segregation by reason of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status; (d) Subject to and in accordance with the terms hereof, upon Completion of Construction, Redeveloper shall obtain a Certificate of Occupancy and all other Government Approvals required for the occupancy and uses of the Project Area, and the Project shall only be used for the purposes contemplated by this Redevelopment Agreement and the Redevelopment Plan. (be) comply Subject to and in accordance with the applicable provisions and public purposes of the Redevelopment Law and all obligations under this Agreement and terms hereof, Redeveloper shall at all times develop, design, finance, construct and operate the Project or cause the Project to be developed, designed, financed, constructed constructed, operated and operated pursuant maintained at its sole cost and expense; (f) Subject to and in accordance with the conditions terms hereof, Redeveloper shall develop, finance, construct, operate and requirements of maintain the Project consistent with Applicable Laws, Governmental Approvals, this Agreement and the Redevelopment Plan. All uses to which the Project may be devoted are controlled by the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement and that under no circumstances can including the Redeveloper undertake any construction or development of the Project not in accordance with the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement. (c) obligation to use diligent efforts to obtain all Governmental Approvals requisite to the construction and development of the Project including evidence satisfactory to the Township that its use of the Project is in compliance with this Agreement, the Redevelopment Plan and all Applicable Laws, and use diligent and commercially reasonable efforts to ensure timely performance of its obligations hereunder, including but not limited to Completion of Construction of the Project within the time periods specified meet all deadlines and timeframes set forth in the Project Schedule.this Redevelopment Agreement; (dg) Prior to the issuance of a Certificate of Completion, the Redeveloper shall not encumber, hypothecate or otherwise use the ProjectProject Area, or any part thereof, thereof as collateral for an any transaction unrelated transaction; nor sell, lease or otherwise transfer all or any portion of a Project without to the Township’s consent, except as otherwise specifically set forth in this Agreement.Project; (eh) during construction of the ProjectRedeveloper will promptly pay any and all taxes, take commercially reasonable steps service charges, SID special assessments or similar obligations when owed with respect to minimize or mitigate impacts on the surrounding neighborhood (such as, for example, noise and dust controls), and keep debris and/or waste materials containerized and/or stored and disposed of, all within normal industry standards. (f) keep and maintain in good condition any improvements required under the Governmental Approvals, including but not limited to any landscaping required to be planted or cause an entity in control of the Project (i.e. condominium or homeowner association) to maintain such improvementsArea and any other property owned by Redeveloper situated in the Town.

Description of Covenants. The following covenants to be and restrictions are imposed upon Redeveloper, its successors and assigns, and are set forth belowintended to run with the land until a Certificate of Completion has been issued for the Project, and except as otherwise provided, which shall be recorded simultaneously with the execution of the Ground Lease substantially in the form of a the Declaration of Covenants and Restrictions (annexed hereto as Exhibit B) as of the date of conveyance of the Township Properties to the Redeveloper and/or acquisition of any additional properties within the Project Site. The covenants and restrictions shall remain in effect for the period set forth in Section 7.2 belowC: (a) Redeveloper shall construct the Project on the Property in accordance with, and subject to the terms of, the Redevelopment Plan, this Redevelopment Agreement, and all Applicable Laws and Governmental Approvals; (b) Except for Permitted Transfers, and subject to the terms hereof, prior to the issuance of a Certificate of Completion, Redeveloper shall not effect a Transfer without the written consent of the Township, which shall not be unreasonably withheld, conditioned or delayed; (c) In connection with its use or occupancy of the Project, Redeveloper shall not effect or execute any covenant, agreement, lease, conveyance or other instrument whereby any portion of the Project Property is restricted upon the basis of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status, and Redeveloper, its successors and assigns, shall comply with all applicable laws Applicable Laws prohibiting discrimination or segregation by reason of age, race, color, creed, religion, ancestry, national origin, sexual orientation, sex or familial status.; (bd) comply Subject to and in accordance with the applicable provisions terms hereof, Redeveloper shall, upon Completion of Construction, obtain a Certificate of Occupancy and public purposes all other Government Approvals required for the occupancy and uses of the Redevelopment Law Property for the purposes contemplated hereby; (e) Subject to and all obligations under this Agreement and in accordance with the terms hereof, Redeveloper shall at all times develop, design, finance, construct and operate the Project or cause the Project to be developed, designed, financed, constructed constructed, operated and operated pursuant maintained at its sole cost and expense; (f) Subject to and in accordance with the conditions terms hereof, Redeveloper shall lease, develop, finance, construct, operate and requirements of maintain the Project consistent with Applicable Laws, Governmental Government Approvals, this Agreement and the Redevelopment Plan. All uses to which the Project may be devoted are controlled by the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement and that under no circumstances can including the Redeveloper undertake any construction or development of the Project not in accordance with the Redevelopment Plan, the Governmental Approvals, Applicable Laws and this Redevelopment Agreement. (c) obligation to use diligent efforts to obtain all Governmental Approvals requisite to the construction and development of the Project including evidence satisfactory to the Township that its use of the Project is in compliance with this Agreement, the Redevelopment Plan and all Applicable Laws, and use diligent and commercially reasonable efforts to ensure timely performance of its obligations hereunder, including but not limited to Completion of Construction of the Project within the time periods specified meet all deadlines and timeframes set forth in the Project Schedule.this Redevelopment Agreement; (dg) Prior to the issuance of a Certificate of Completion, Redeveloper shall not encumber, hypothecate or otherwise use the ProjectProperty, or any part thereof, thereof as collateral for an any transaction unrelated transactionto the Project; nor selland (h) Upon commencement of the Ground Lease, lease Redeveloper will promptly pay any and all taxes, service charges, business improvement district special assessments or otherwise transfer similar obligations when owed with respect to the Property and at all or times for any portion of a Project without other property owned by Redeveloper situated in the Township’s consent, except as otherwise specifically set forth in this Agreement. (e) during construction of the Project, take commercially reasonable steps to minimize or mitigate impacts on the surrounding neighborhood (such as, for example, noise and dust controls), and keep debris and/or waste materials containerized and/or stored and disposed of, all within normal industry standards. (f) keep and maintain in good condition any improvements required under the Governmental Approvals, including but not limited to any landscaping required to be planted or cause an entity in control of the Project (i.e. condominium or homeowner association) to maintain such improvements.