AND IN FURTHER PURSUANCE of the Transferor's intention set out above the Transferor
in its capacity as Transferee for itself and its successors in title so as to bind each of the lots
comprising the Land ("the Covenanting Lots”) described in paragraph B of the Second
Schedule and for the benefit of all the other lots on the Land ("the Benefitting Lots")
described in each case in paragraph B of the Second Schedule and each of the registered
proprietors thereof from time to time HEREBY COVENANTS AND AGREES memorandum
with itself as Transferor with effect for the peiod from and including 1 August 1996 and
continuing up until 1 August 2016 that the Transferee will henceforth and at all times observe
and perform all the stipulations, restrictions and covenants contained in the First Schedule of
this memorandum TO THE END AND INTENT each of the said stipulations, restrictions and
covenants shall forever enure for the benefit of tie Benefitting Lots and every part thereof
and for the benefit of the registered proprietors thereof from time to time
