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LIMITED WARRANTY DEED <br />COVE UNITED METHODIST CHURCH, fka Detroit Avenue Methodist Church <br />Inc. ( "Grantor "), for valuable consideration paid, grants, with limited warranty covenants, to <br />CITY OF LAKEWOOD, OHIO, an Ohio municipal corporation ( "Grantee "), whose tax mailing <br />address is 12650 Detroit Avenue, Lakewood, Ohio 44107, the real property more fully described <br />in the legal description attached as Exhibit "A ", which is incorporated herein by reference (the <br />"Property "). <br />The Property is conveyed subject to, and there are excepted from the limited warranty <br />covenants, the following: <br />1. All legal highways; <br />2. Zoning, building and other laws, ordinances, codes and regulations; <br />3. Easements, rights -of -way, conditions, covenants and restrictions of record; and, <br />4. Real estate taxes that are a lien on the Property, but not yet due and payable. <br />The Property is conveyed to Grantee subject to the following restrictive covenant, and <br />Grantee by its acceptance of this Deed agrees that: <br />In the event that Grantee sells the Property to a third party for an amount in excess <br />of $900,000, Grantor shall be entitled to reimbursement of fifty percent (50 %) of <br />such purchase price in excess of the sum of (a) $900,000 and (b) Grantee's carrying <br />costs and funds expended associated with the upkeep of the Property from the date <br />of recording of this Deed until the date the Property is transferred to a third party. <br />2. The preceding restrictive covenant (i) shall remain in effect for a period of five (5) <br />years from the date of this Deed, (ii) shall run with the land, (iii) shall be binding <br />upon Grantee and Grantee's successors and assigns and, (iv) shall inure to the <br />benefit of and be enforceable by actions at law or in equity by Grantor or Grantor's <br />successors in title or interest to all or any part of or interest in the Property. <br />Executed this day of 2019. <br />1.7.11 N01 s. <br />COVE UNITED METHODIST CHURCH, <br />flea Detroit Avenue Methodist Church Inc. <br />By: <br />Mary Soirefman <br />Its: Chair of Trustees <br />IC <br />