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RECORDING REQUESTED BY A
WHEN RECORDED MAIL TO:
City Attorney
City of Arcadia
240 W. Huntington Dr.
Arcadia, CA 91006
D RECORDED IN OFFICIAL RECORDS
RECORDER'S OFFICE
, .. LOS ANGELES COUNlY
CALIFORNIA
J1 ~IN. 10 A M DEe ~l1985
PAST. . .
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COVENANT AND AGREEMENT TO DEVELOP
AND HOLD PROPERTY AS ONE PARCEL
FOR GOOD, VALUABLE AND ADEQUATE CONSIDERATION, receipt of
which is hereby acknowledged,
COSMO INVESTMENT CO., a Limited Partnership
hereinafter referred to collectively as "Covenantors" , hereby
declares to be the owners of that certain real property located
at 600-616 East Live Oak Avenue in the City of Arcadia, County of
Los Angeles, State of California, legally described as follows:
Lots 3, 4, 5 and 6, of Tract No. 15233, as per map
recorded in Book 332, Pages 29 and 30 of Maps in
the office of the Los Angeles County Recorder.
all of which afore described 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.
.'
IN WITNESS WHEREOF, Covenantors have executed this
instrument on the date show opposite their signatures.
"COVENANTORS"
par~hiP
COSMO INVESTMENT, A Limited
Dated:p-i,C-3 '91-
BY&~~L I _
~ ~ General Partner
BYKC4i~/
Dated~ . 3 ~..r,
I
Dated :P-<- .] cI'1-
B~~L.....
Lal, eneral Partner
"COVENANTEE"
City of Arcadia
BY~;:~
George J. at s
City Manager
Dated:. /.,;'-C -cPS-
APPROVED AS TO FORM:
7J1'iI/Li!ldIL
City Attorney
-2-
85-1468428
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NOTARIAL CERTIFICATE
STATE OF CALIFORNIA )
) SS
COUNTY OF LOS ANGELES)
"
ON THIS FOURTH DA Y OF DECEMBER
IN THE YEAR 1985 ,BEFORE ME, THE UNDERSIGNED, A NOTARY
PUBLIC'IN AND'FOR SAID STATE, PERSONALLY APPEARED **STEVE
HAYASHI, JOHN LAI AND KEN SHEN **************************
PERSONALLY KNOWN TO ME( or proved to me on the basis of
satisfactory e.vidence ) TO BE THE PERSONS WHOSE NAMES
SUBSCRIBED TO THE WITHIN INSTRUMENT AND ACKNOWLEDGE TO
ME THAT THEY EXECUTE IT.
SEAL.
DAVID H. MA-
NOTARY PUBLIC
OFFICIAL SEAL
DAVID H MA
NOTARY PUBLIC - CAliFORNIA
LOS ANGELES COUNTY
My oomm. expires JUN 23. 1987
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