Common use of Runs with the Land Clause in Contracts

Runs with the Land. Except as provided in paragraph 7, the obligations imposed by this Agreement shall be effective for the duration of this Agreement and shall be deemed to run as a binding servitude with the Property. This Agreement shall extend to and be binding upon Recipient and LCHIP, their respective successors in interest and all persons hereafter claiming under or through Recipient and LCHIP, and the words "Recipient" and "LCHIP" when used herein shall include all such persons. Any right, title, or interest herein granted to LCHIP also shall be deemed granted to each successor and assign of LCHIP and each such following successor and assign thereof, and the word "LCHIP" shall include all such successors and assigns. Anything contained herein to the contrary notwithstanding, an owner of the Property shall have no obligation pursuant to this instrument where such owner shall cease to have any ownership interest in the Property by reason of a bona fide transfer. The restrictions, stipulations, and covenants contained in this Agreement shall be inserted by Recipient, verbatim or by express incorporation by reference, in any subsequent deed or other legal instrument by which Recipient divests itself of either the fee simple title to or any lesser estate in the Property or any part thereof, including by way of example and not limitation, a lease of all or a portion of the Property.

Runs with the Land. Except as provided in paragraph 7Paragraphs 8 and 21, the obligations imposed by this Agreement Restriction shall be effective for the duration of this Agreement in perpetuity and shall be deemed to run as a binding servitude with the Property. This Agreement Restriction shall extend to and be binding upon Recipient Grantor and LCHIPGrantee, their respective successors in interest and all persons hereafter claiming under or through Recipient Grantor and LCHIPGrantee, and the words "RecipientGrantor" and "LCHIPGrantee" when used herein shall include all such persons. Any right, title, or interest herein granted to LCHIP Grantee also shall be deemed granted to each successor and assign of LCHIP Grantee and each such following successor and assign thereof, and the word "LCHIPGrantee" shall include all such successors and assigns. Anything contained herein to the contrary notwithstanding, an owner of the Property shall have no obligation pursuant to this instrument where such owner shall cease to have any ownership interest in the Property by reason of a bona fide transfer. The restrictions, stipulations, stipulations and covenants contained in this Agreement Restriction shall be inserted by RecipientGrantor, verbatim or by express incorporation by reference, in any subsequent deed or other legal instrument by which Recipient Grantor divests itself of either the fee simple title to or any lesser estate in the Property or any part thereof, including by way of example and not limitation, a lease of all or a portion of the Property.

Runs with the Land. Except as provided in paragraph 7Paragraphs 8 and 21, the obligations imposed by this Agreement Restriction shall be effective for the duration of this Agreement in perpetuity and shall be deemed to run as a binding servitude with the Property. This Agreement Restriction shall extend to and be binding upon Recipient Grantor and LCHIPXxxxxxx, their respective successors in interest and all persons hereafter claiming under or through Recipient Grantor and LCHIPGrantee, and the words "RecipientGrantor" and "LCHIPGrantee" when used herein shall include all such persons. Any right, title, or interest herein granted to LCHIP Grantee also shall be deemed granted to each successor and assign of LCHIP Grantee and each such following successor and assign thereof, and the word "LCHIPGrantee" shall include all such successors and assigns. Anything contained herein to the contrary notwithstanding, an owner of the Property shall have no obligation pursuant to this instrument where such owner shall cease to have any ownership interest in the Property by reason of a bona fide transfer. The restrictions, stipulations, stipulations and covenants contained in this Agreement Restriction shall be inserted by RecipientGrantor, verbatim or by express incorporation by reference, in any subsequent deed or other legal instrument by which Recipient Grantor divests itself of either the fee simple title to or any lesser estate in the Property or any part thereof, including by way of example and not limitation, a lease of all or a portion of the Property.