An agreement signed under section 42 of this chapter must do the following:

1. (1) Refer to the proceeding before the commission.
2. (2) Contain a full legal description of the subject property.

3. (3) Specifically provide for the following:

   1. (A) That the agreement is contingent upon the grant of a variance for or issuance of a certificate of appropriateness concerning the subject property.
   2. (B) That the agreement will be construed strictly against those parties from whom the agreement is required by the commission.

   3. (C) That the agreement, if executed by a party with a legal or equitable interest in the subject property, is intended to create a covenant that:

      1. (i) runs with the subject property; and
      2. (ii) is binding upon the successors to the fee or to an interest in the fee.

   4. (D) That the agreement is intended to benefit and to be enforced by a person who, under this chapter, would be considered an interested party concerning the subject property.

      [Pre-1995 Title 14 Recodification Citation: 14-3-3.2-10(c).]

As added by P.L.1-1995, SEC.83.