Quitclaim is a release of any interest (claim) one has in the property.  A covenant is the performance of an act or obligation.  Quitclaim in this case means that others do not have a claim to the property you own.  A covenant can be either personal or can run with the land.  A personal covenant means this only applies to the current owner.  A covenant that runs with the land means this applies to your successors, heirs, or anyone to whom you assign the property.  The type of covenant you have described most likely runs with the land which means it is binding on successors, heirs or anyone to whom you assign the property.