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Declaration <br /> NOW THEREFORE, COA, for itself and on behalf of its successors and assigns, does <br /> hereby certify and declare as follows (and Oracle, for itself and on behalf of its successors and <br /> assigns joins COA in this Declaration of Restriction so that subsequent owners of the Oracle <br /> Campus Property will have notice of the matters set forth herein): <br /> 1 . This Restriction is executed in compliance with Resolution No. 16-07 and the <br /> related Conditions of Approval. Absent this Restriction, the Property and the Project would not <br /> satisfy Redwood City Municipal Code requirements related to project development and <br /> operation, and the approvals and permits for the Project would not have been granted. <br /> 2. In the event that the Oracle Campus Property does not provide sanitary sewer <br /> service or potable water service to the Property, COA, or the then-current owner of the Property, <br /> shall, at its sole cost and expense, construct a new public sanitary sewer main and potable water <br /> main facilities to serve the Property in accordance with Redwood City Code and to the <br /> satisfaction of the City Engineer, and shall dedicate said improvements to the City. The City <br /> shall not, in any event, be responsible for constructing, financing, or designing any new sanitary <br /> sewer main or potable water main facilities for any reason, including but not limited to the sale <br /> of the Property or Oracle Campus Property, or the failure of the Oracle Campus Property to <br /> provide sanitary sewer service or potable water service to the Property. <br /> 3 . If, for any reason, a violation of this Restriction occurs, the City may (but is not <br /> obligated to) pursue any and all legal remedies provided by law, equity, or otherwise available to <br /> City, including but not limited to revocation of approvals and permits for the Project as provided <br /> for in the Redwood City Municipal Code and Redwood City Zoning Ordinance. No City waiver <br /> of a breach or default under the approvals and/or permits for the Project or this Restriction shall <br /> constitute a continuing waiver or a waiver of a subsequent breach of the same or any other <br /> provision of the approvals and/or permits for the Project or this Restriction. A breach of any <br /> provision of this Restriction shall not defeat or render invalid the lien of any mortgage or deed of <br /> trust made in good faith and for value as to the Property, or any part thereof, but the provisions <br /> of this Restriction shall be binding and effective against any owner of the Property whose title <br /> thereto is acquired by foreclosure, trustee's sale or otherwise. <br /> 4. The City is an intended beneficiary of this Restriction. This Restriction shall be <br /> recorded in the San Mateo County Recorder's Office at COA's expense (if any). The covenants <br /> and agreements contained herein shall be deemed to be covenants running with the land for the <br /> benefit of the City. Each of the parties agrees, for itself and its successors and assigns, that in the <br /> event a court of competent jurisdiction determines that the covenants in this Restriction do not <br /> run with the land, such covenants shall be recorded as equitable servitudes against the Property <br /> and the Project in favor of the City, and Oracle or the then-current owner of the Oracle Campus <br /> Property shall join in such covenants to indicate its continuing notice thereof. <br /> 5. This Restriction shall be construed and interpreted in accordance with the laws of <br /> California, excluding any choice of law rules which may direct the application of the laws of <br /> another jurisdiction. In the event that any covenant or restriction herein contained is invalid or is <br /> ATTY/AGR/2016.155/DECLARATION OF RESTRICTION — 275 ORACLE <br /> REV: 07-13-16 VR <br /> Page 2 of 3 <br />