AgdaPkt 2002-12-09 - Laserfiche WebLink

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. Q.A � !45 — the Projxt Site or of the buildings or structures on the Project Site or of ttus Agreement. This prolribition shall not apply subsequent to the issuance of a Certificate of Completion to any portion of the Project Site covered by a Certificate of Completion. Tlris prolribition shall not be deemed to prevent the granting of temporary or permanent easements or permits to facilitate the . development of the Project Sibe to prohibit or restrict the leasing of any part or parts of a building or structure for use of space therein when said improvements are completed. In the absence of specific written agreement by the Agency, no such Transfer shall be deemed to relieve Developer or any other party from any obligations under ttris Agreement until complerion of development of the Project evidenced by the issuance of a Certificate of Completion therefor. Any transferee, by instrument in writing reasonably sarisfactory to the Agency and in recordable form, for itself and its successors and assigns, and for the benefit of the Agency, shall expressly assume all of Developer's obligations hereunder related w the Project ("Developer's Obligarions") and agree to be subject to all of the condidons and reshicdons related to the Project to which Developer is subject. Developer shall submit to the Agency for review all instruments and other legal documents proposed to effect any such Transfer wlrich are to be recorded, and the Agency shall have the right, pursuant to Section 1005 below, to inspect ail other documents related to such Transfer. If the Transfer is approved (if such approval is required) by the Agency, the Agency approval shall be provided to Developer in writing. Agency shall notify Developer in writing of its decision within twenty (20) days of — Developer's written request for a Transfer by Developer. Failure by the Agency to notify Developer within this period shall automatically be deemed to be disappmval of the requested Transfer. Notwithstanding anything to the contrary contained in this Secrion 901, the following transactions shall be permitted prior to the issuance of Certificates of Completion: (1) granting of temporary easements or permits to facilitate the development of the Project Site; (2) the leasing or preleasing of space in the proposed buildings or structures; or (3) any transaction approved by the Agency pursuant to Section 511, including but not limited to any mortgages or deeds of trust granted by Developer and encumbering all or any portion of the Project Site or any sale-leaseback, whereby any portion of the Project Site is sold and then leased back by Developer. After filing a Certificate of Complerion, no approval under this Agreement is required as to any Transfer of any part of the Project Site covered b�� such Certificate of Completion. §902 Prohibition on Transfer ot Partnershio Interests Prior to recordation of a Certificate of Completion, no member or general partner of Developer shall transfer its interest in Developer without the prior written approval of the Agency, which approval shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, no approval of Agency shall be required with respect to the Transfer of any interest in Developer to any subsidiary, pazent or affiliate of Developer or of any member of the limited liability company constituting Developer, or any partnership or 43 DOCSSF1:648942.4 9975-5 C I4 120502