RecD99 1999-005008 - Laserfiche WebLink

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Irvine shall be obligated to perform or comply within a reasonable time after the event or action which precluded Irvine from timely performance no longer exists. 12, Supersedina Public Interest. The parties acknowledge and agree that the public necessity for acquisition of the Street Parcel and the construction of the Street Improvements is in addition to, and supersedes, any private interests of Irvine in the Development. Therefore, acquisition of the Street Parcel and construction of the Street Improvements and all rights, duties and obligations of the parties hereunder shall accrue and shall be performed irrespective of contingencies relating to the Development (including, without limitation, vesting of title to the Development Property in Irvine), approval of the Development or any part or portion thereof, or other private use of Irvine's property. Nothing herein contained shall be deemed an express or implied approval of the Development or any part or portion thereof; provided, that in the event the Development is approved as evidenced by approval of a final subdivision map, any rights, duties, and obligations of the parties thereunder to acquire the Street Parcel and to construct the Street Improvements shall be subsumed by this agreement. 13, Release. City acknowledges that it shall use its best efforts to acquire the Street Parcel and to provide such interests and rights of possession to Irvine as may be necessary to construct the Street Improvements and, ultimately, to convey title to said Improvements to City. Notwithstanding the foregoing, Irvine acknowledges and agrees that acquisition of the Street Parcel G: \shared\Redwood\Council Agmt-142 DES:rg 03/09/98;O3/13/98R ,04I10/98R; 05/07/98RRR:06.101/98RRRR 10