§5056. Registration of contracts when three-fourths of buildings in area are covered

The contracts to be binding as between all those entering the same with reference to their buildings situated in certain designated localities or boundaries or between certain street or road intersections, and fronting on designated public streets, boulevards, roads or public or private roads or places, specified in said agreements, shall provide that the written contracts shall be registered in the conveyance records of the parish, only after three-fourths of the buildings situated in the designated boundaries or between certain street or road intersections, and fronting on designated public streets, boulevards, roads, or public or private roads or places, have been made the subject of such agreements. This fact shall be certified to under oath by such public officer, or person of the full age of majority, to be named by the parties to the agreements, for such purpose, in the contracts or agreements. There shall be no charge imposed for the registry in the conveyance records of the parish, of the agreements, should any judge or any court of record in which the real estate is located, certify in writing on such agreements that in his estimation the contracts confer some benefit to the history and public welfare of the locality and state. Registry of the agreements as aforesaid shall constitute full notice of the contracts and the validity thereof, as affecting and binding upon the parties and their properties described therein, their heirs, successors or assigns.