If a building, structure or improvement requiring parking is located upon a separately recorded lot from that upon which the required parking is provided, whether in the same or separate ownership, there shall be a recording in the office of the county recorder of a covenant by such owner or owners for the benefit of the City, in the form first approved by the City, that such owner or owners will continue to maintain such parking space so long as the building, structure or improvement is maintained in the City. The covenant herein required must stipulate that the title to the right to use the lot or lots upon which the parking facilities are to be provided will be suberected and that the lot or lots are not and will not be made subject to any other covenant or contract for use without prior written consent of the City. (PZSC § 03-12-015 (1))