Laserfiche WebLink
exemption from real property taxation for the Improvements authorized by the Act and the TIF <br />Ordinance, to enable the County to collect Service Payments thereunder and disburse such <br />payments to the Village. The Village will assist and cooperate with the Company in connection <br />with the preparation and filing of the required exemption applications. <br />It is intended and agreed, and it shall be so provided by the Company in any future deed <br />from the Company conveying the Property or any part thereof, that the covenants provided in this <br />Section 2 shall be covenants running with the land and that they shall, in any event and without <br />regard to technical classification or designation, legal or otherwise, be binding to the fullest extent <br />permitted by law and equity, for the benefit and in favor of and enforceable by, the Village, against <br />the Company and its successors and assigns, to all of the Property or any part thereof or interest <br />therein, including, without limitation, any grantee in a conveyance of the Property or any part <br />thereof through judicial process, whether or not this Agreement remains in effect or whether or not <br />such provision is included by the Company in any succeeding deed by the Company to its <br />successors and assigns. It is further intended and agreed that these agreements and covenants shall <br />remain in effect for the full period of exemption permitted in accordance with the requirements of <br />the Act and the Village's TIF Ordinance and any other ordinances enacted pursuant thereto. <br />Section 3. Declaration of Restrictions. The Property shall be made subject to the <br />covenants rnnning with the land provided in Section 2 hereof, by the signing and recording by the <br />Company of a declaration of restrictions (the "Declaration") in form and substance satisfactory to <br />the Village, and which Declaration shall be signed by the Company and recorded in the official <br />records of Cuyahoga County within 12 months from the date of this Agreement. The Declaration <br />and said covenants shall be specifically enforceable by the Village by mandatory injunction or any <br />other remedy at law or in equity. <br />-4- <br />