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HomeMy WebLinkAboutD-2234 OiJ ~~~.1.\JI~ r RECORDING REQUESTED BY WHEN RECORDED MAIL TO: City Attorney City of Arcadia 240 W. Huntington Dr. Arcadia, CA 91006 AND RECORDED IN OFFICIAL RECORDS RECORDER'S OFFICE ',. LOS ANGELES COUNTY. ~Q... CALIFORNIA 21 MIN. q A.M.SEP 27 1985 PAST. FEE $9 I 3 Jl COVENANT AND AGREEMENT TO DEVELOP AND HOLD PROPERTY AS ONE PARCEL FOR GOOD, VALUABLE AND ADEQUATE CONSIDERATION, receipt of which is hereby acknowledged, WE POWER, INC., A California Corporation hereinafter referred to collectively as "Covenantors" , hereby declares to be the owners of that certain real property located at 145-149 Fano Street in the City of Arcadia, County of Los Angeles, State of California, legally described as follows: Lots 12 and 13, Block 63 1/2, Tract 866 in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 16, Pages 198 and 199 of Maps in the office of the Los Angeles County Recorder. 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 benefit 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: I. 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. CORPORATE ACKNOWLEDGMENT State of '- County of ..,~. . !Ii.'"'" '~I California Los Angeles } 55. 85-1131374 OFFICIAL SEAL SANDRA DEVINE NOTARY' PUBLIC - CALIFORNIA lOS ANGELES C(),mTY My comm. expires OCT 4. 1988 ~...-;;:-: 2> NO. 202 On th is the 19thday of September 19~, before me, Sandra Devine the undersigned Notary Public, personally appeared Joseph Tai o personally known to me I)l proved to me on the basis of satisfactory evidence to be the person(s) who executed the within instrument as President or on behalf of the corporation therein named, and aCknowledged to me that the corporation executed it. WITNESS my hand and official seal. ~a-l--& A/ J(j" 'J~A-?~) Notary's Signature ' NATIONAL NOTARY ASSOCIATION. 23012 Ventura Blvd. . P.O. Box 4625 . Woodland Hills. CA 91364 , JJ IN WITNESS WHEREOF, Covenantors have executed this instrument on the date show opposite their signatures. "COVENANTORS" WE POWER, INC. a California Corporation Dated: ~. /l, /Pe9.f By Jo e,~ President "COVENANTEE" City of Arcadia Dated: 9'-/..(~J'J--- BYo~~A4 City Manager APPROVED AS TO FORM: , If ~ f[J~ It .IJJ M~chael H. Miller City Attorney ., . .. .' " -2- ., '85-1131371