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7.1.C. - Page 17 <br /> 37. Time is of the Essence. Time is of the essence of this Agreement and of each and every <br /> term and condition hereof. <br /> 38. Runs with the Land: Recordation. This Agreement pertains to and shall run with the <br /> Property. Upon execution, this Agreement shall be recorded in the Official Records of San Mateo <br /> County. Upon completion of performance and satisfaction by Developer of its obligations under this <br /> Agreement, including warranty obligations, a written statement shall be recorded by City in the Official <br /> Records of San Mateo County terminating this Agreement and releasing all of the Property. The recorded <br /> written statement does not release the parties from obligations that survive termination of the Agreement, <br /> including indemnification. <br /> IN WITNESS WHEREOF, City and Developer have executed this Agreement as of the Effective <br /> Date. <br /> DEVELOPER <br /> Fuller Street Partners, <br /> : lifornia limited liabili corn )an <br /> By: <br /> Name: Mark C. Johnson <br /> Title: Managing Member <br /> [Signature must be notarized] <br /> CITY <br /> CITY OF REDWOOD CITY, a <br /> charter city and municipal corporation <br /> Robert B. Bell, City Manager <br /> [Signature n :ust be notarized] <br /> ATTEST: <br /> Silvia Vonderlinden, City Clerk <br /> REV: 09 -19 -14 VR <br /> Page 12 of 19 <br /> ATTY /AGR.2014.187 /Fuller Street Partners - 601 Brewster <br />