Examples of Covenant Agreement in a sentence
This Covenant Agreement imposes the covenants herein on the Anchor Property.
The County, NTIFA, the City, and the Landowner shall each be deemed a beneficiary of the covenants in this Covenant Agreement, and such covenants shall run in favor of the County, NTIFA, the City, and Landowner, for the entire period during which such covenants shall be in force and effect.
Subject to Section 8 of this Covenant Agreement, during the Minimum Annual Payment Period, the owner(s) (and any successors in interest) of the Anchor Property will pay, or cause to be paid, not less than the Minimum Annual Payment of ad valorem taxes (or will make a payment in lieu of taxes in the Minimum Annual Payment amount).
The covenants in this Covenant Agreement shall run with the Anchor Property described in Exhibit A to this Covenant Agreement.
In the event of a default in payment of the Minimum Annual Payment obligation, the beneficiaries of the Minimum Annual Payment pursuant to this Covenant Agreement shall look exclusively to the Anchor Property for satisfaction thereof and shall not seek or obtain a personal judgment against CC Trust or its successors or assigns.