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6.1.A. - Page 15 <br /> 36. Authority. Each party executing this Agreement on behalf of a party represents and <br /> warrants that such person is duly and validly authorized to do so on behalf of the entity it purports to bind <br /> and if such parry 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. Joint and Several Liability. The parties agree that Property Owner and Lessee shall be <br /> jointly and severally liable under this Agreement.Notwithstanding the foregoing,the parties acknowledge <br /> and agree that the relationship between Property Owner and Lessee is strictly that of landlord and <br /> tenant under the Ground Lease described in Recital B and this Agreement shall not be construed as <br /> to create or imply any agency or joint venture relationship between Property Owner and Lessee. <br /> 39. 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 /> [Signature Page Follows] <br /> REV:08-31-17 PR <br /> Page 12 of22 <br /> ATTY/AGR.2017.195/Lane-Broadway, LLC-IA <br />