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consists of Zones 2 and 4 of the Property (the "Transferred Property"), as further <br />described in the Amended Development Agreement; and <br /> <br /> WHEREAS, pursuant to the Purchase Agreement, Assignors agree to <br />assign to Assignee, and Assignee agrees to assume, the Amended <br />Development Agreement as the same applies to and affects the Transferred <br />Property; and <br /> <br /> WHEREAS, the Amended Development Agreement provides that <br />Flatirons may sell, assign, and/or transfer the Amended Development <br />Agreement, and any of its rights, duties, and obligations under the Amended <br />Development Agreement, to any person during the term of the Amended <br />Development Agreement, subject to the written approval of City; and <br /> <br /> WHEREAS, there has been presented to, and reviewed by, this Council a <br />Declaration of Covenants, Conditions, Easements, and Restrictions (the <br />Declaration"); and <br /> <br /> WHEREAS, there has been presented to, and reviewed by, this Council <br />an agreement entitled "Assignment and Assumption of Development Agreement <br /> <br />and Permit," between Assignors and Assignee; <br /> NOW, THEREFORE; <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br /> CITY, AS FOLLOWS: <br /> <br /> Reso-374 2 <br /> G:~shamd~redwood~council <br /> FXS:fs <br /> 07~08~98 <br /> <br /> <br />