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and if such party is a partnership, corporation or trustee, that such partnership, corporation or trustee has <br /> full right and authority to enter into this Agreement and perform all of its obligations hereunder. <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 /> PREMIA SOUTH COUNTY, LLC, <br /> a Delaware limited liability company <br /> ziBy: Z <br /> Name: Ili CAS 0.4- 4 '‘ civ6w <br /> Title: ("*. rvQ .A & t FJ t k di A2 /) <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 /> { csa SI trti S Pry- ct 2- <br /> [Signature must be notarized] <br /> ATT :T: / <br /> '1 <br /> r <br /> Silvia onder r I den, r ity Jerk / <br /> REV: 10-12-15 VR <br /> Page 12 of 19 <br /> ATTY/AGR.2015.229/Premia 550 Owner, LLC <br />