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Developer's failure to commence or complete construction of the Project within the time <br /> periods set forth in Section 2 above, Developer's transfer of the Property in violation of <br /> the Agreement, and the occurrence of certain other events of default, as more <br /> particularly described in the Agreement. <br /> 4. Restrictions on Transfer. The Agreement further provides that (i) except as <br /> permitted by the Agreement, Developer shall not voluntarily or involuntarily make or <br /> attempt any total or partial sale, transfer, conveyance, assignment or lease of the whole <br /> or any part of the Property or the Project without the prior written approval of the City; <br /> and (ii) any transferee of all or part of the Property shall be subject to and shall <br /> expressly assume all of the covenants, obligations and restrictions of the Agreement <br /> which pertain to the portion of the Property transferred , including without limitation, the <br /> provisions of the Regulatory Agreement. <br /> 5. Agreement Controls. The Parties have executed and recorded this instrument to <br /> give notice of the Agreement and the respective rights of the Parties thereunder. <br /> Copies of the unrecorded Agreement are available at the offices of the City, 1017 <br /> Middlefield Road , Redwood City, CA 94063, and such document is incorporated by <br /> reference in its entirety in this Memorandum. This Memorandum is solely for recording <br /> purposes and shall not be construed to alter, modify, amend or supplement the <br /> Agreement. In the event of any inconsistency between this Memorandum and the <br /> Agreement, the Agreement shall control. <br /> 6. interpretation ; Counterparts. This Memorandum shall be interpreted and <br /> enforced in accordance with California law without regard to principles of conflict of <br /> laws. This Memorandum may be executed in counterparts, each of which shall be an <br /> original and all of which together shall constitute one instrument. <br /> 7. Binding Effect. The Agreement shall bind and inure to the benefit of the Parties <br /> and their respective successors and assigns, subject to the provisions of the Agreement <br /> concerning assignment. <br /> SIGNATURES ON FOLLOWING PAGE <br /> ATY/AGR/2017.218/RWC — BRADFORD — DDA <br /> REV: 09-18-17 VR <br /> Page 58 of 94 <br />