nothing contained or implied herein shall prejudice or affect the rights and powers of the City in the exercise of its functions under any public or private statutes, by-laws, orders and regulations, all -: which may be fully and effectively exercised ‘in relation to the said lands as if this Agreement had not been executed and delivered by the Covenantor; the covenants set forth herein shall charge the said lands pursuant to Section 215 of the Land Title Act and shall be covenants the burden of which shall run with the said lands. It is further expressly agreed that the benefit of ail covenants made by the Covenantor herein shall accrue solely to the City. and that this Agreement may only be modified by agreement of the City with the Covenantor or the registered owner of the said lands, or discharged by the City, pursuant to the provisions of Subsection 215(5) of the Land Title Act; notwithstanding anything contained herein, the Covenantor chall not be liable under any of the covenants and agreements contained herein where such liability arises by reason of an act or omission occurring after the Covenantor ceases to have any further interest in the said lands; wherever the singuiar or masculine is used herein, the same shall be construed as meaning the plural, feminine or body corporate or politic where the context ox the parties so require; this Agreement shall enure to the benefit of and be binding upon the parties hereto, their respective successor and assigns; and