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completion of all of the obligations of this Agreement with respect to the development of the Property. After the recordation of the Certificate of Completion, any party then owning or thereafter purchasing, leasing or otherwise acquiring any interest in the Property shall not (because of such ownership, purchase, lease or acquisition) incur any obligation or liability under this Agreement, except that such party shall be bound by any covenants contained in the Grant Deed, the Declaration of Affordability Covenants, the Declaration of Redevelopment Covenants, the Deed of Trust, any lease or other instrument of transfer which lease or other instrument of transfer shall include the provisions of Section 4 . 01 through 4 . 06, inclusive, of this Agreement . Neither the Agency nor any other person, after the recordation of the Certificate of Completion, shall have any rights, remedies or controls that it would otherwise have or be entitled to exercise under this Agreement with respect to the Property, as a result of a default in or breach of any provision of this Agreement, and the respective rights and obligations of the parties as to the Property and the Project shall be limited to those set forth in the Grant Deed, the Declaration of Affordability Covenants, the Declaration of Redevelopment Covenants and the Deed of Trust . c . The Certificate of Completion shall be in such form as to permit it to be recorded in the Recorder' s Office of San Mateo County. d. If the Agency refuses or fails to furnish a Certificate of Completion for the Project after written request from the Developer, the Agency shall, within r-r`==:fortv five (3�45) days of the written request or within three (3) days after the next regular meeting of the Agency, whichever date occurs later, provide to the Developer a written stateri�ent setting forth the reasons with respect to the Agency' s refusal or failure to furnish a Certificate of Completion. The statement shall also contain the Agency' s opinion of the action the Developer must take to obtain a Certificate of Completion. If the reason for such refusal is confined to the immediate unavailability of specific items or materials for construction or landscaping at a price reasonably acceptable to the Developer or other minor building "punch-list" items, the Agency will issue its Certificate of Completion upon the posting of a bond or irrevocable letter of credit, reasonably approved as to f orm and substance by the Agency and obtained by the Developer in an amount representing a fair value of the work not yet completed with respect to the Project, as reasonably determined by the Agency. If the Agency shall have failed to provide such written statement within the foregoing period, and provided that the Developer serves the Agency with written notice of this effect not less than five (5) days prior to REDW\0006\DOC\013-7 2 6 1\11\08 940 law