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<br />s- J)¿~ <br /> <br />Section 4.03 <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 4.04 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. In the event that City requests the recordation of a <br /> <br />memorandum, Owner shall execute same immediately upon request, and <br /> <br />Owner's authorized signatory shall be notarized. <br /> <br />Section 4.05 <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 in connection with the development <br /> <br />of the Project are applicable as equitable servitudes and shall constitute <br /> <br />covenants running with the land pursuant to applicable law, including but not <br /> <br />limited to, Section 1468 of the Civil Code of the State of California. <br /> <br />Each <br /> <br />covenant to act or refrain from acting is for the benefit of or a burden upon the <br /> <br />Property, as appropriate, runs with the Property and is binding upon each <br /> <br />successive owner of a fee interest in the Property. <br /> <br />Section 4.06 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 />flshlshlRClcouncil <br />AGMT-232 <br />02/08/00 <br />9:21 AM <br />FXS/fsl <br /> <br />16 <br /> <br />"'~."""- . ..~... .'1r. . <br />