Common use of MUTUALITY, RECIPROCITY; RUNS WITH LAND Clause in Contracts

MUTUALITY, RECIPROCITY; RUNS WITH LAND. This Declaration is made for the direct, mutual and reciprocal benefit of each and every Parcel; shall create mutual, equitable servitudes upon each Parcel in favor of every other Parcel; shall create reciprocal rights and EXHIBIT F -49- PEREGRINE SYSTEMS CORPORATE CENTER [Peregrine Systems] obligations between and among the respective Owners during their respective periods of ownership and privity of contract and estate between and among all grantees of each Parcel, their respective heirs, successors and assigns; and shall, with respect to the Owner of each Parcel, its heirs, successors and assigns during their respective periods of ownership, operate as covenants running with the land, for the benefit of all other Parcels.