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<br />Section 5.03 <br /> <br />Recordation. <br /> <br />City may, at its option, request the <br /> <br />recordation of this Agreement or a memorandum thereof (the "Memorandum") in <br /> <br />the Official Records of San Mateo County, California. <br /> <br />Section 5.04 Execution. This Agreement shall be executed by City and <br /> <br />Owner and the signatures of the respective parties authorized signatories shall <br /> <br />be notarized for recordation. <br /> <br />Section 5.05 <br /> <br />Covenants and Servitudes. <br /> <br />All of the provisions <br /> <br />contained in this Agreement which affect the property or the payment of money <br /> <br />for the issuance of project Building Permits are applicable as equitable <br /> <br />servitudes and shall constitute covenants running with the land pursuant to <br /> <br />applicable law, including but not limited to, Section 1468 of the Civil Code of the <br /> <br />State of California. Each covenant to act or refrain from acting is for the benefit <br /> <br />of or a burden upon the Property, as appropriate, runs with the Property and is <br /> <br />binding upon each successive owner of a fee interest in the Property. <br /> <br />Section 5.06 Miscellaneous. <br /> <br />(a) This Agreement shall apply to, bind, and inure to the benefit of <br /> <br />successors in interest of the parties hereto, including heirs, assigns, executors, <br /> <br />administrators, and all other parties, whether they succeed by operation of law or <br /> <br />voluntary acts of City or Owner. <br /> <br />(b) This Agreement may be amended in writing by the mutual agreement <br /> <br />of the original parties or their successors in interest. <br /> <br />(c) This Agreement shall be construed and enforced in accordance with <br /> <br />the laws of the State of California. <br /> <br />Agmt-212 <br />f/sh/shiRC/Council <br />FXS:rg <br />11/9/98,11/17/98, 1'2/143/98 <br /> <br />9 <br />