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person not a party to this Contract, except as may be expressly otherwise provided in this Contract
and except for any consent or approval of (i) Developer鈥檚 lender as required by the documents
referenced in the Financial Offering Memo and/or the other related financing documents or (ii) the
Government.
(d) EDA has determined that in order to carry out the objective of maintaining,
retaining, improving and expanding existing development, and to set a prevailing high standard in
aesthetics, public policy is best served by the imposition of conditions and restrictions upon the
improvement, use, and maintenance of land which is intended for development or redevelopment
by private enterprise. To that end, it is hereby specified that as part of the consideration for this
transaction, the use of the Property to be conveyed is expressly subject to the following covenants,
restrictions, limitations and conditions, which are to be imposed as covenants running with and
binding upon the aforesaid Property and which shall be set forth in the Deed:
(1) The Property shall be used for a parking garage and retail commercial space
for thirty (30) years. However, in the event ofa total destruction or total loss
of the improvements on the Property, the Property shall be used for any
allowable use under the then current zoning ordinance and regulations.
(2) There shall not be effected or executed any agreement, lease, covenant,
conveyance or other instrument whereby the sale, lease or occupancy of the
Property is restricted upon the basis of race, creed, color, religion, gender,
national origin, or disability.
(3) Developer will comply with all state and local laws in effect from time to
time prohibiting discrimination or segregation by reason of race, creed,
color, religion, gender, national origin, or disability in the leasing or
4924-8886-8988, v. 12
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