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6.B. - Page 18 of 77 <br />36. Authority. Each party executing this Agreement on behalf of a party represents and <br />warrants that such person is duly and validly authorized to do so on behalf of the entity it purports to bind <br />and if such parry is a partnership, corporation or trustee, that such partnership, corporation or trustee has <br />full right and authority to enter into this Agreement and perform all of its obligations hereunder. <br />37. Time is of the Essence. Time is of the essence of this Agreement and of each and every <br />term and condition hereof. <br />38. 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 />39. No Impairment of Lien. No violation or breach of the agreements, conditions, <br />restrictions, provisions, or limitations contained in this Agreement shall defeat or render invalid or in any <br />way impair the lien or charge of any mortgage, deed of trust or other financing or security instrument <br />Date. <br />IN WITNESS WHEREOF, City and Developer have executed this Agreement as of the Effective <br />[Signature Page Follows] <br />ATTY/AGR/2019.063/MP BRADFORD ASSOCIATES, L.P., - IMPROVEMENT AGREEMENT <br />REV: 03-21-19 PR <br />Page 12 of 21 <br />33 <br />