Orange County NC Website
Browse       Search
14 <br />11/5/92 <br />_ 16. The Grantee covenants to carry out the duties specified herein and these <br />restrictions shall be covenants and restrictions running with the land, which the Granter, iu <br />successors and assigns, hereby covenants and agrees, in the event the Subject Property shall <br />be sold or otherwise disposed of, will be inserted in the deed or other instrument conveying <br />or disposing of the Subject Property. <br />17. In the event of a violation of these covenanu and restrictions, all legal and <br />equitable remedies, including injunctive relief, specific performance, and damage, shall be <br />available to the Fund and/or the Foundation; and in the event any such damage are awarded <br />to the Fund or the Foundation, insofar as is practical the same shall be used in the renovation <br />and preservation of the Dickson House. No failure on the part of the Fund or the <br />Foundation to enforce any covertant or restriction herein nor the waives of any right <br />hereunder by the Fund or the Foundation shall discharge or invalidate such covenant or <br />restriction or any other covenant, condition or restriction hereof, or affect the right of the <br />Fund to enforce the same in event of a subsequent breach or default. <br />18. Unless otherwise provided, the covenants and restrictions set forth above shaA <br />run with the land in perpetuity and, with the exception of the restrictions set forth in <br />paragraph 2 hezeinabove, shall terminate and be of no further force or effect only in the <br />event that the Dtckson House is damaged beyond restoration as a result of fire or other <br />catastrophe. Damage beyond rptotation is defined as damage to an extent exceeding fifty <br />percent (509G) of the insurable value of the building. <br />... <br />DIAt_1\F:\DOCS\dAY\AEALESTA\2359'1 _ 5 <br />