Common use of Covenants, Conditions and Restrictions Clause in Contracts

Covenants, Conditions and Restrictions. A. Buyer acknowledges and agrees to comply with the Declaration of Covenants, Conditions and Restrictions encumbering the Property dated August 26, 1996 and recorded in the Los Angeles County Recorder's Office as Instrument No. 961516213, a copy of which will be attached hereto as Exhibit "D" and incorporated herein by this reference and as may be amended from time to time (the "CC&R's"). Buyer acknowledges and agrees that construction of the Improvements on the Property and construction of any additional improvements on the Property after the Close of Escrow is subject to compliance with the size, density, building material, aesthetic and other architectural controls under the CC&R's. At the Closing, Seller shall deliver to Buyer a certificate executed by the Declarant under the CC&R's to evidence that construction of the Improvements was in compliance with the CC&R's. Prior to expiration of Buyer's Review Period, Seller shall cause the Declarant to deliver a letter to Buyer confirming that Buyer's intended use of the Build-to-Suit Parcel is permitted under the CC&R's subject to Declarant's approval of the plans and specifications for the Improvements and Buyer's compliance with all applicable laws and regulations. Buyer shall obtain the approval of the Architectural Review Committee and Declarant under the CC&R's prior to submitting any plans or applications for approval to any governmental authority regarding any expansion of the Improvements after the Closing Date. The parties acknowledge that after the Close of Escrow, Buyer contemplates expanding the Improvements on the Build-to-Suit and Expansion Parcels by approximately 50,000 square feet subject to Buyer's compliance with all applicable laws, ordinances, codes and regulations in connection with any expansion of the Improvements by Buyer. Buyer acknowledges that Buyer's ability to expand may be affected by changes in laws and regulations and by Buyer's use of the Improvements and proposed use of the expansion area. In connection with any such expansion Seller agrees to be bound by the following provisions.

Covenants, Conditions and Restrictions. A. Buyer acknowledges Optionor is currently the Declarant under all existing covenants, conditions and agrees to comply with the Declaration of Covenantsrestrictions and condominium declarations (collectively, Conditions and Restrictions encumbering the Property dated August 26, 1996 and recorded in the Los Angeles County Recorder's Office as Instrument No. 961516213, a copy of which will be attached hereto as Exhibit "D" and incorporated herein by this reference and as may be amended from time to time (the "CC&R'sRESTRICTIONS"). Buyer acknowledges ) currently applicable to the Projects, and, as such, currently has the unilateral right to supplement, amend, and agrees that construction of revoke the Improvements on the Property and construction of any additional improvements on the Property after the Close of Escrow is subject to compliance with the size, density, building material, aesthetic and other architectural controls under the CC&R'sRestrictions. At the "Closing", Seller as such term is defined in the Master Agreement, Optionor shall deliver execute, acknowledge, and cause to Buyer a certificate executed by be recorded an assignment to Optionee of all of the Declarant declarant's and/or developer's rights under the CC&R's to evidence that construction of the Improvements was in compliance applicable Restrictions and all voting and other rights with the CC&R's. Prior to expiration of Buyer's Review Period, Seller shall cause the Declarant to deliver a letter to Buyer confirming that Buyer's intended use of the Build-to-Suit Parcel is permitted under the CC&R's subject to Declarant's approval of the plans and specifications for the Improvements and Buyer's compliance with all applicable laws and regulations. Buyer shall obtain the approval of the Architectural Review Committee and Declarant under the CC&R's prior to submitting any plans or applications for approval respect to any governmental authority regarding any expansion of property owners association governing the Improvements after the Closing Date. The parties acknowledge that after the Close of Escrow, Buyer contemplates expanding the Improvements on the Build-to-Suit Projects known as Renaissance and Expansion Parcels by approximately 50,000 square feet subject to Buyer's compliance with all applicable laws, ordinances, codes and regulations in connection with any expansion of the Improvements by Buyer. Buyer acknowledges that Buyer's ability to expand may be affected by changes in laws and regulations and by Buyer's use of the Improvements and proposed use of the expansion areaColonial Shores. In connection therewith, full and complete control of all applicable boards of directors and/or other governing bodies with respect to such Projects shall be transferred to Optionee, provided that so long as Optionee retains control of each such governing body, Optionee shall allow Optionor to appoint one representative to such governing body. With respect to each of the Projects other than Renaissance and Colonial Shores, Optionor shall, promptly upon the request of Optionee at any time after Optionee has acquired at least one (1) Lot in such expansion Seller agrees Project, execute, acknowledge, and cause to be bound recorded an assignment to Optionee of all of declarant's and/or developer's rights under the existing Restrictions and all voting and other rights with respect to any property owners association governing such Project. In connection therewith, full and complete control of all applicable boards of directors and/or other governing bodies with respect to such Projects shall be transferred to Optionee, provided that so long as Optionee retains control of each such governing body, Optionee shall allow Optionor to appoint one representative to such governing body. Each assignment of Declarant's rights shall provide that the Declarant's rights with respect to a Project will be revested in Optionor in the event this Agreement is terminated prior to the purchase by Optionee of all Lots within such Project, subject, however, to a non-exclusive reservation in favor of Optionee of all Declarant's and/or developers rights necessary or convenient to Optionee's development, marketing, and sale of the following provisionsLots then owned by Optionee. Similarly, Optionee shall transfer control of each governing body with respect to such Project in the event this Agreement is terminated prior to the purchase by Optionee of all Lots within such Project. After the Effective Date, Optionor shall not supplement, amend, or remove the Restrictions without Optionee's prior written consent. During the term of this Agreement, and subject to Optionor's approval, which shall not be unreasonably withheld, Optionee shall have the right to record declarations of covenants, conditions and restrictions and condominium declarations for those Projects that currently do not have appropriate declarations of covenants, conditions and restrictions and condominium declarations and thereupon such items shall be deemed to be Restrictions hereunder.

Covenants, Conditions and Restrictions. A. Buyer acknowledges and agrees to comply with the Declaration of Covenants, Conditions and Restrictions encumbering the Property dated August 26, 1996 and recorded in the Los Angeles County Recorder's Office as Instrument No. 961516213, a copy of which will be attached hereto as Exhibit "D" and incorporated herein by The parties agree that this reference and as may be amended from time to time (the "CC&R's"). Buyer acknowledges and agrees that construction of the Improvements on the Property and construction of any additional improvements on the Property after the Close of Escrow Lease is subject to compliance with the sizeeffect of (a) the covenants, densityconditions, building materialrestrictions, aesthetic easements, mortgages or deeds of trust (subject to Article 28 hereof), ground leases, rights of way of record, and the other architectural controls documents of record all as described on Schedule 2.3 attached hereto (the “Restrictions”); (b) any zoning laws of the city, county and state where the Premises is situated; and (c) general and special taxes, if any, not delinquent. Tenant agrees that as to its leasehold estate, Tenant and all persons in possession or holding under Tenant will not violate the CC&R'sRestrictions. At Tenant shall have the Closingright to purchase a leasehold title policy, Seller at its sole cost and expense, and Landlord agrees to cooperate and execute any documents reasonably required by Tenant or the title company in connection therewith, including a standard owner’s affidavit relating to such matters as construction liens and parties in possession. Landlord further agrees that on the date hereof it shall deliver written notice to Buyer a certificate executed Xxxxx Xxxxxxx or an entity owned or controlled by Xxxxx Xxxxxxx (collectively, “Corrado”) terminating the Declarant under the CC&R's to evidence that construction oral parking agreement between Landlord and Corrado affecting part of the Improvements was in compliance with Premises (the CC&R's“Old Parking Agreement”). Prior to expiration of Buyer's Review Period, Seller shall cause Landlord represents that the Declarant to deliver Old Parking Agreement is on a letter to Buyer confirming that Buyer's intended use of the Buildmonth-to-Suit Parcel is permitted month basis, terminable by either party on thirty (30) days’ prior written notice to the other and neither Landlord nor Corrado are in default under the CC&R's subject to Declarant's approval Old Parking Agreement. Any and all costs and expenses of terminating the Old Parking Agreement shall borne by Landlord. Upon the termination of the plans and specifications for Old Parking Agreement, Landlord shall have the Improvements and Buyer's compliance with all applicable laws and regulations. Buyer shall obtain the approval of the Architectural Review Committee and Declarant under the CC&R's prior right to submitting any plans or applications for approval to any governmental authority regarding any expansion of the Improvements after the Closing Date. The parties acknowledge that after the Close of Escrow, Buyer contemplates expanding the Improvements on the Buildenter into a written month-to-Suit month parking agreement with Corrado (the “New Parking Agreement”) terminable by Landlord on 15 days’ prior written notice to Corrado and Expansion Parcels in form otherwise reasonably acceptable to Tenant, and Landlord shall have the right to retain any rental collected thereunder provided that Landlord shall immediately send notice to Corrado terminating the New Parking Agreement in accordance with the terms thereof upon written notice from Tenant to Landlord requesting such termination. Any and all costs and expenses of terminating the New Parking Agreement shall be borne by approximately 50,000 square feet subject to Buyer's compliance with all applicable laws, ordinances, codes and regulations in connection with any expansion Landlord. Landlord expressly acknowledges that time is of the Improvements by Buyer. Buyer acknowledges that Buyer's ability essence with respect to expand may be affected by changes in laws and regulations and by Buyer's use Landlord’s termination of the Improvements Old Parking Agreement and proposed use New Parking Agreement (if applicable) as Tenant will suffer significant damages if its construction work on the Premises is delayed as a result of Corrado failing to timely vacate the expansion area. In connection with any such expansion Seller agrees to be bound by the following provisionsPremises.

Covenants, Conditions and Restrictions. A. At the time of Closing, Buyer acknowledges and agrees to comply with shall have prepared in a form sufficient for recordation in the official records of Xxx County, Florida, a Declaration of Covenants, Conditions and Restrictions encumbering (“CCRs”) which shall require the development of the Property dated August 26, 1996 and recorded in accordance with the Los Angeles County Recorder's Office as Instrument No. 961516213, a copy of which will be attached hereto as Exhibit "D" and incorporated herein by this reference and as may be amended from time to time (uses for the "CC&R's"). Buyer acknowledges and agrees that construction various portions of the Improvements Property shown on the Property and construction of any additional improvements on the Property after the Close of Escrow is subject Subdivision Plat. Prior to compliance with the size, density, building material, aesthetic and other architectural controls under the CC&R's. At the Closing, Seller shall deliver have the right to Buyer a certificate executed review and approve Buyer’s proposed form of CCRs, which approval by the Declarant under the CC&R's to evidence that construction of the Improvements was in compliance with the CC&R's. Prior to expiration of Buyer's Review Period, Seller shall cause the Declarant to deliver a letter to Buyer confirming that Buyer's intended use of the Build-to-Suit Parcel is permitted under the CC&R's subject to Declarant's approval of the plans and specifications for the Improvements and Buyer's compliance with all applicable laws and regulationsnot be unreasonably withheld, conditioned or delayed. Buyer shall obtain be the approval “Declarant” under the CCRs retaining all rights to control the development of the Architectural Review Committee Property, including without limitation the Approved Common Infrastructure Improvements. Buyer agrees that, until such time as the Purchase Money Mortgage is satisfied and Declarant released, Buyer shall not transfer or assign its rights and obligations as the “Declarant” under the CC&R's prior CCRs except to submitting any plans or applications for approval to any governmental authority regarding any expansion an affiliate of Buyer. The Purchase Money Mortgage shall provide that the lien of the Improvements after Purchase Money Mortgage is subordinate to the Closing DateCCRs. The parties acknowledge that after Purchase Money Mortgage shall also contain a provision whereby Buyer collaterally assigns to Seller the Close Buyer’s rights as the “Declarant” under the CCRs, which collateral assignment would permit Seller to exercise the rights of Escrow, Buyer contemplates expanding as the Improvements on “Declarant” under the Build-to-Suit and Expansion Parcels by approximately 50,000 square feet subject to Buyer's compliance with all applicable laws, ordinances, codes and regulations CCRs in connection with any expansion the event of the Improvements by Buyer. occurrence of certain uncured defaults of Buyer acknowledges that Buyer's ability to expand may be affected by changes under the Purchase Money, as more particularly set forth in laws and regulations and by Buyer's use of the Improvements and proposed use of the expansion area. In connection with any such expansion Seller agrees to be bound by the following provisionsPurchase Money Mortgage.

Covenants, Conditions and Restrictions. A. At the time of Closing, Buyer acknowledges and agrees to comply with shall have prepared in a form sufficient for recordation in the official records of Xxx County, Florida, a Declaration of Covenants, Conditions and Restrictions encumbering ("CCRs") which shall require the development of the Property dated August 26, 1996 and recorded in accordance with the Los Angeles County Recorder's Office as Instrument No. 961516213, a copy of which will be attached hereto as Exhibit "D" and incorporated herein by this reference and as may be amended from time to time (uses for the "CC&R's"). Buyer acknowledges and agrees that construction various portions of the Improvements Property shown on the Property and construction of any additional improvements on the Property after the Close of Escrow is subject Subdivision Plat. Prior to compliance with the size, density, building material, aesthetic and other architectural controls under the CC&R's. At the Closing, Seller shall deliver have the right to Buyer a certificate executed review and approve Buyer’s proposed form of CCRs, which approval by the Declarant under the CC&R's to evidence that construction of the Improvements was in compliance with the CC&R's. Prior to expiration of Buyer's Review Period, Seller shall cause the Declarant to deliver a letter to Buyer confirming that Buyer's intended use of the Build-to-Suit Parcel is permitted under the CC&R's subject to Declarant's approval of the plans and specifications for the Improvements and Buyer's compliance with all applicable laws and regulationsnot be unreasonably withheld, conditioned or delayed. Buyer shall obtain be the approval "Declarant" under the CCRs retaining all rights to control the development of the Architectural Review Committee Property, including without limitation the Approved Common Infrastructure Improvements. Buyer agrees that, until such time as the Purchase Money Mortgage is satisfied and Declarant released, Buyer shall not transfer or assign its rights and obligations as the "Declarant" under the CC&R's prior CCRs except to submitting any plans or applications for approval to any governmental authority regarding any expansion an affiliate of Buyer. The Purchase Money Mortgage shall provide that the lien of the Improvements after Purchase Money Mortgage is subordinate to the Closing DateCCRs. The parties acknowledge that after Purchase Money Mortgage shall also contain a provision whereby Buyer collaterally assigns to Seller the Close Buyer’s rights as the "Declarant" under the CCRs, which collateral assignment would permit Seller to exercise the rights of Escrow, Buyer contemplates expanding as the Improvements on "Declarant" under the Build-to-Suit and Expansion Parcels by approximately 50,000 square feet subject to Buyer's compliance with all applicable laws, ordinances, codes and regulations CCRs in connection with any expansion the event of the Improvements by Buyer. occurrence of certain uncured defaults of Buyer acknowledges that Buyer's ability to expand may be affected by changes under the Purchase Money, as more particularly set forth in laws and regulations and by Buyer's use of the Improvements and proposed use of the expansion area. In connection with any such expansion Seller agrees to be bound by the following provisionsPurchase Money Mortgage.