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HomeMy WebLinkAboutD-2347 RECORDING REQUESTED BY AND' WHEN RECORDED MAIL TO: City Attorney City of Arcadia 240 W. Huntington Dr. Arcadia, CA 91006 87 2034061 RECORDED IN OFFICIAL RECORDS RECORDER'S OFFICE LOS ANGELES COUNTY CAlIFORNIA 1 MIN. 9 PAST. A.M. ore 28 1987 .LJ-.:l 3i17 2 C I [FEE $7 , I COVENANT AND AGREEMENT TO DEVELOP AND HOLD PROPERTY AS ONE PARCEL FOR GOOD, VALUABLE AND ADEQUATE CONSIDERATION, receipt of which is hereby acknowledged, EXCEL DIAMOND PROJECT, A General Partnership hereinafter referred to collectively as "Covenantors", hereby declare they are the owners of that certain real property located at l53-l57 Diamond Street in the City of Arcadia, County of Los Angeles, State of California, legally described as follows: Lots l4 and l5 in Block 64 l/2 of a part of Arcadia Santa Anita Tract, in the City of Arcadia, County of Los Angeles, State of ,California, as per map recorded in Book l5 Pages 89 and 90 of Miscellaneous Records 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: 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 affected land 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. .------- - .' ." i P ARTI.ERS;.rr p STATE OF CALIFORNIA ~ ) 55. COUNTY OF On ,D,h:, / /. / J' J' 7 ,before me, the undersigned, a notary public in and for said state, personally appeared C?#('''71 LI' ,./. ,. :5'H....7'- c!4...-.. <- personally known to mil (or proved to me on the basis of satisfactory evidence to be the person that executed this instrument, on behalf of the partnership and acknowledged 'to me that the partnership executed it. WITNESS ~ hand and official seal " (Seal) OFFfCIAL SEA[] CATHERINE CHOW NOTARY PUBLIC - CALIFORNIA , LOS AllGELES COllll'lY My comm, expires OCT 19, 1990 ....~..'::O--:;...~ ~ . ~ ,/ ,,' 3;a3 87 2034061 r' ~ IN WITNESS WHEREOF, Covenantors have executed instrument on the date shown opposite their signatures. this "COVENANTORS" EXCEL DIAMOND PROJECT A General Partnership Dated: IV!<</ Jl'7 By Clh.-- Christopher K. Li, General Partner Dated: ,r( \, I? 1 By Valerie S. Li, General Partner ic~ 5 7is Dated: IZ-;';/I,/rl BYS~~~' Shuei-Chen Li, General Partner "COVENANTEE" City of Arcadia By Dated: /.;?-/7-,f'7 APPROVED AS TO FORM: 1Tj::y'. ~ll~ City Attorney 87 2(\14061 . . . -2- I .