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38. Runs with the Land; Recordation. Tlus Agreement pertains to and shall run with the <br /> Property. Upon execution,this Agreement shall be recorded in the Official Records of San Mateo County. <br /> Upon completion of performance and satisfaction by Developer of its obligations under this Agreement, <br /> including warranty obligations,a written statement shall be recorded by City in the Official Records of San <br /> Mateo County terminating this Agreement and releasing all of the Property. The recorded written <br /> statement does not release the parties from obligations that survive termination of the Agreement, <br /> including indemnification. <br /> 39. Developer Contribution for Bulb-Out Work. In full compliance with Condition No. 38 of <br /> the Conditions of Approval,Owner shall deposit with City the sum of One Hundred Forty-Eight Thousand <br /> Nine Hundred Fifty-One and No/100 Dollars ($148,951.00)prior to building permit issuance and design <br /> drawings for the bulb-out improvements in a form acceptable to the City Engineer prior to issuance of any <br /> Certificate of Occupancy. As of the Effective Date,Developer has begun but has not completed the design <br /> of the bulb-out improvements. Prior to the City's issuance of any Certificate of Occupancy, whether <br /> temporary or final,Developer shall cooperate with the City to make such changes and clarifications to the <br /> bulb-out design as reasonably required by the City for its use in the bidding and construction of the bulb- <br /> out improvements. Other than payment of standard building permit fees and the aforementioned <br /> obligation related to the bulb-out design, in no event shall Developer have any further obligations related <br /> to the construction of the bulb-out improvements. <br /> IN WITNESS WHEREOF,City and Developer have executed this Agreement as of the Effective <br /> Date. <br /> DEVELOPER <br /> 601 MARSHALL STREET OWNER,LLC, <br /> a Delaware limited liability company <br /> � <br /> BY: � `��--�_._.. <br /> Name:i����((t�� /`"�'�— <br /> Title:1��',�i0✓f �f/�r-�- <br /> jSignature must be�otarizedj <br /> CITY <br /> CITY OF REDWOOD CITY,a <br /> charter ' munic' ' n <br /> Me evenson ' , ' Manager <br /> [Signature must be notarizedJ <br /> ATTEST: <br /> �� , , <br /> �YlEUSS.�TuR�, <br /> D�u�C�z� CC�� <br /> REV:06-21-16 VR <br /> Page 12 of19 <br /> ATTY/AGR.2016.126/601 Marshall Street Owner, LLC-IA 2016-06-09 <br />