Covenant definition
Examples of Covenant in a sentence
The obligations under Section 8.1(c) (SPD’s Covenant), Sections 8.3(d), (e), (f) and (g) (Buying Entity’s Covenants), Section 10 (Taxes and Governmental Fees), Section13 (Limitation of Liability) Section 14.4 (Notices), Section 15 (Confidentiality), or pursuant to other provisions of this Agreement that, by their nature and context, are intended to survive termination of this Agreement shall survive the expiration or termination of this Agreement for any reason.
District has determined, in accordance with the Inclusionary Zoning Program and its public policy of increasing the affordable housing stock in the District of Columbia, that the Site and the Inclusionary Development (collectively, the “Property”) shall be subject to this Covenant which requires among other things that the Inclusionary Development contain a certain number of Inclusionary Units (as defined below).
If the District shall prevail in any such legal action to enforce this Covenant, then the Owner, Inclusionary Unit Owner, Person or Household against whom the District prevails, shall pay District all of its costs and expenses, including reasonable attorney fees, incurred in connection with District efforts to enforce this Covenant.
If there is conflict between any term of this Covenant and the IZ Laws, the IZ Laws shall control except for the provisions relating to the calculation of the Maximum Resale Price contained in Schedule 1.
If a violation occurs under this Covenant or the IZ Laws, the District Agency shall provide the Owner with written notice setting forth with particularity the alleged violation and shall provide at least thirty (30) days to cure the alleged violation, prior to the District Agency declaring an event of default and exercising its remedies.