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(b) In no event shall the rights, duties and obligations conferred upon Owner <br />pursuant to this Agreement be at any time transferred or assigned except through a <br />transfer of an interest of Owner in the Property, or a portion thereof. <br /> <br />(c) Upon the sale, transfer or assignment of Owner' rights and interests under this <br />Agreement, Owner is released from any obligations arising subsequent to the effective <br />date of the transfer under this Agreement with respect to the Property, or portion <br />thereof transferred if: <br /> <br />(i) Owner is not then in default under this Agreement; and <br />(ii) The transferee executes and delivers to City a written agreement in which: <br /> A) The name and address of the transferee is set forth; and <br /> <br /> B) The transferee expressly and unconditionally assumes all of the <br /> <br /> obligations of Owner under this Agreement with respect to the <br /> Property, or portion thereof, transferred. <br /> <br />(d) Failure to deliver a written assumption agreement does not affect the running of <br /> <br />any covenants in this Agreement with the land, nor does that failure negate, modify or <br />otherwise affect the liability of any transferee under this Agreement. <br /> <br />(e) All provisions of this Agreement are enforceable as equitable servitudes and <br />constitute covenants running with the land pursuant to applicable law, including, but not <br />limited to, Section 1468 of the Civil Code of the State of California. Each covenant to <br />do or refrain from doing some act on the Property, or with respect to any City-owned <br />property: <br /> <br />(i) Is for the benefit of those properties and is a burden upon those properties; <br /> <br />(ii) Runs with those properties; and <br /> <br /> -19- <br />Agmt-450113001 <br />FXS:dr <br />02/04/02R~ 02/12/02R <br /> <br /> <br />