Res17 15621 - Laserfiche WebLink

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Developer's failure to commence or complete construction of the Project within the time periods set forth in Section 2 above, Developer's transfer of the Property in violation of the Agreement, and the occurrence of certain other events of default, as more particularly described in the Agreement. 4. Restrictions on Transfer. The Agreement further provides that (i) except as permitted by the Agreement, Developer shall not voluntarily or involuntarily make or attempt any total or partial sale, transfer, conveyance, assignment or lease of the whole or any part of the Property or the Project without the prior written approval of the City; and (ii) any transferee of all or part of the Property shall be subject to and shall expressly assume all of the covenants, obligations and restrictions of the Agreement which pertain to the portion of the Property transferred , including without limitation, the provisions of the Regulatory Agreement. 5. Agreement Controls. The Parties have executed and recorded this instrument to give notice of the Agreement and the respective rights of the Parties thereunder. Copies of the unrecorded Agreement are available at the offices of the City, 1017 Middlefield Road , Redwood City, CA 94063, and such document is incorporated by reference in its entirety in this Memorandum. This Memorandum is solely for recording purposes and shall not be construed to alter, modify, amend or supplement the Agreement. In the event of any inconsistency between this Memorandum and the Agreement, the Agreement shall control. 6. interpretation ; Counterparts. This Memorandum shall be interpreted and enforced in accordance with California law without regard to principles of conflict of laws. This Memorandum may be executed in counterparts, each of which shall be an original and all of which together shall constitute one instrument. 7. Binding Effect. The Agreement shall bind and inure to the benefit of the Parties and their respective successors and assigns, subject to the provisions of the Agreement concerning assignment. SIGNATURES ON FOLLOWING PAGE ATY/AGR/2017.218/RWC — BRADFORD — DDA REV: 09-18-17 VR Page 58 of 94