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HomeMy WebLinkAboutD-2209 .' ',1' 85 ~ - ""-.-- ( 31636 RECORDING REQUESTED BY F 0 WHEN RECORDED MAIL TO: City Attorney City of Arcadia 240 W. Huntington Dr. Arcadia, CA 91006 RECORDED IN OFFICIAL RECORDS RECORDER'S OFFICE LOS ANGELES COUNlY CALIFORNIA MIN. 9 A M.JAN 101985 PAST. I FEE $7 I ,.... 1. COVENANT AND AGREEMENT TO DEVELOP AND HOLD PROPERTY AS ONE PARCEL FOR GOOD, VALUABLE AND ADEQUATE CONSIDERATION, receipt of which is hereby acknowledged, THE DRACO, a California Limited Partnership, hereinafter referred to collectively as "Covenantors" , hereby declare they are the owners of that certain real property located at 11625 Goldring .~oad in the City of Arcadia, County of Los Angeles, State of California, legally described as follows: Lots 1584 through 1589 in the Chicago Park 7ract, in the City of Arcadia, as per map recorded in Book 30 Page 100 of Miscellaneous Records, in the Office of the County Recorder of said County. Except therefrom the southwesterly 5 feet as conveyed to the City of Arcadia for street purposes, by deed recorded March 12, 197( as Instrument No. 2568. all of which aforedescribed is hereinafter referred to collectively as the "Affected Land" hereby agree and covenant with the City of Arcadia, a Municipal Corporation (hereinafter referred to as the "Covenantee") on behalf of and for the benerit of the Covenantee's land, which is the public street and right- of-way adjacent and contiguous to the Affected Land, and on behalf of and for the benefit of the "Benefitted Land" which consists of and includes all the public and private land located within 500 feet of the Affected Land, as follows: 1. The Affected Land shall be held and developed as one parcel and no portion thereof shall be voluntarily or involuntarily sold, conveyed or assigned separately or legally divided until released in writing by the City of Arcadia. Any attempt to sell, conveyor assign less than the entire parcel shall be a nullity and of no effect and the Covenantee is hereby authorized to bring an action in a competent court to set aside and have declared "null and void such attempted sale, conveyence or assignment, In the event of such legal actions, Covenantors or their successors or assigns shall be liable for the reasonable attorney's fees of Covenantee. 2. This Covenant and Agreement is for the benefit of the land of and shall inure to the benefit of the Covenantee and its heirs, successors and assigns and is for the benefit of and shall inure to the benefit of all the Benefitted Land and the heirs, successors and assigns of the owners of the Benefitted Land, and this Covenant and Agreement shall run with the land and shall be binding upon the heirs, successors and assigns of the Covenantors. 3. The City of Arcadia in its capacity as Covenantee and in its capacity as the legal representative of the residents of the City of Arcadia and more particularly as the legal representative of all the owners of the Benefitted Land is hereby authorized to enforce the provisions of this Covenant and Agreement. 4. If any section, subsection, sentence, clause, phrase or portion of this Covenant and Agreement is for any reason held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decisions shall not affect the validity of the remaining portions of this Covenant and Agreement. : . 0. . . -p }- STATE OF CALIFORNIA COUNTY OF Los AnQe 1 es lSS, January 4, 1935 ~ :E . ;; c ~ . .. " u < On before me, the undersigned, a Notary Public in and for said Counly and Stale, personally '!Pyeared H5UEH-CHIEN FU and ~RANKLIN P. WA~G known to me (or proved to me on the basis of satisfactory evidences) to be 2 of the partners of the partnership that executed the within instrument, and acknowledged to me that such partnership executed the same. ,~. 'l'f_/l /- '/ ..;:t ~ . in Signature lTC028 Rn~ INVESTORS TITLE COMPANY UU~ FOR NOTARY SEAL OR STAMP -~~d OFFICIAL SEAL . NANCY SING C< ,,~:!. NOTARY PU8UC - CALIFORNIA , LOS Ar.GEL:S COUNTY ,.......~iY ~ c~:n~. _C:Plrcs ~EP ~1,~ 1~8:J . . -. > ,. . IN WITNESS WHEREOF, Covenantors have executed this instrument on the date show opposite their signatures, "COVENANTORS" The Draco A California Limited Partnership ~~e. \:,\LU:h-chlen Fu ~l.O'p.u/~ Franklin P. Wang Dated: Jan. 3, 1985 Dated: Jan. 3, 1985 "COVENANTEE" City of Arcadia BY~ ~~ e;'eor e ~ City Manager Dated: /-7-J's-- APPROVED AS TO FORM: - a WfA 1!ltd H. lll[() City Attorney ~_ <J 5 ~ 3/lo 6~ . A ., -2-