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• is contingent upon receiving evidence satisfactory to Authority that Buyer has procured a <br />construction loan commitment or other financing on such terms and in such amount as Authority <br />deems sufficient to permit Buyer to fulfill its obligations under this Agreement, including the <br />completion of construction of the improvements on the Property in accordance with the approved <br />site plan. Nothing contained herein, and no action of Authority or City Council in approving <br />or failing to approve any budget or financing, shall be deemed or construed as making any party <br />a partner or joint venturer with any other party or create a principal -agent relationship or any <br />other relationship except that of seller and buyer. <br />12.3 The deed for the Property will contain a restrictive covenant running with <br />the Property which will prohibit the following land uses: <br />(a) Beverage or food processing, packaging and bottling plants; <br />(b) Dry cleaning establishments of moderate or high hazard as defined in the <br />Virginia Uniform Statewide Building Code; <br />(c) Warehouses, whether or not used in connection with retail or wholesale <br />businesses on the same premises; <br />(d) Open storage yard (lumber, construction materials and equipment, etc.); <br />and <br />(e) Junk yards. <br />• The foregoing classifications are found in the City's current zoning ordinance in the M-1 <br />Restricted Industrial District and for further definition of such classifications, the zoning <br />ordinance should be consulted. <br />WITNESS the following duly authorized signatures. <br />Seller: <br />THE INDUSTRIAL DEVELOPMENT <br />AUTHORITY OF THE CITY OF <br />CHARLOTTESVILLE, VIRGINIA <br />By: <br />Its: ck --4^ "- <br />• Attachment: Exhibit A (the Property drawing) <br />Buyer: <br />Oliver C. Kuttner <br />Page 7 <br />