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26. Time is of the Essence. Time is of the essence of this Agreement and of each and every <br />term and condition hereof. <br />27. Runs with the Land; Recordation. This Agreement pertains to and shall run with the <br />Property. Upon execution, this Agreement shall be recorded in the Official Records of San Mateo <br />County. Upon completion of performance and satisfaction by Developer of its obligations under this <br />Agreement, including warranty obligations, a written statement shall be recorded by City in the Official <br />Records of San Mateo County terminating this Agreement and releasing all of the Property. The recorded <br />written statement does not release the parties from obligations that survive termination of the Agreement, <br />including indemnification. <br />IN WITNESS WHEREOF, City and Developer have executed this Agreement as of the Effective <br />Date. <br />KAISER FOUNDATION HOSPITALS, <br />a California public benefit non-profit organization <br />By: A A A A q Name: 7f_1, <br />— <br />Title: <br />[Signature must be notarized] c � �( �� cp, ( n 0 r2 y�i t l `L <br />CITY <br />CITY OF REDWOOD CITY, a <br />charter city <br />municipal <br />unici al corporation <br />��I - <br />Melissa Stevenson Diaz, City Manager <br />[Signature must be notarized] <br />ATTES��-��" <br />Pamela Aguilar, City Clerk <br />Page 8 of 13 <br />REV: 07-20-18 PR <br />ATTY/AGR/2018.161/KAISER MOB2 — DEMO AGREEMENT <br />