the transferees do hereby for themselves their heirs executors administrators and transferees the registered proprietor or proprietors for the time being of the lot hereby transferred COVENANT with urban land authority PURSUANT TO THE PROVISIONS OF sECTION 14 OF THE uRBAN lAND aUTHORITY aCT 1979 that they will within a period of two years following the date hereof erect of cause to be erected on the said land a house for disposal by sale and it is intended that this covenant shall appear as an encumbrance affecting the same and every part thereof on the Certificate of Title to be issued in respect of the Lot hereby transferred and FURTHER that this covenant shall forever run at the law.