Ord04 2265 - Laserfiche WebLink

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ARTICLE 2: UTILITIES 2.01 Utility Service in General The City will not unreasonably withhold or condition provision of any municipal utility service which it customarily provides, or act to discriminate against the Project with respect to such utilities. In connection therewith, assuming that the City provides such services, the Developer shall pay for all on-site and off-site improvements required, consistent with this Agreement and the Precise Plan, and pursuant to Project Approvals. 2.02 Water Service The City's supply of water is constrained, and the City cannot guarantee that water service, or any specified level of water supply, will in fact be available for the Project, because factors beyond the City's control affect its ability to supply water. The City will enter the full amount of the estimated water demand for the Project into City water planning, including any water supply planning conducted in connection with review of future development projects during the Term. The approval of any portion of the Project is subject to the identification, at the approval stage at which water availability is customarily considered in the City approval process, of adequate water supply for that portion. ARTICLE 3: TRANSFERS AND ASSIGNMENTS; AGREEMENT RUNS WITH THE LAND 3.01 Release Upon Transfer and Assumption by Transferee. Upon the sale or transfer of the Property, or a portion of the Property, Developer shall be released from its obligations under this Agreement with respect to the Property, or portion thereof so transferred, arising subsequent to the effective date of such transfer provided that either: (a) the transferee demonstrates to the reasonable satisfaction of the City that it is a legal entity controlled by or under common control with the Developer, or (b) the transferee demonstrates to the reasonable satisfaction of the City that arrangements have been made to assure the completion of all unperformed obligations of Developer under this Agreement, including those obligations, if any, which are not obligations solely of the transferee, and in either case (i) Developer is not then in default under this Agreement, (ii) the transferee demonstrates to the reasonable satisfaction of the City that it has sufficient financial resources and development experience to complete the Developer's obligations for which it will become responsible and (iii) the transferee executes and delivers to City a written agreement in form acceptable to the City Community Development Director in which the name and address of the transferee is set forth, and the transferee expressly and unconditionally assumes all of the transferred obligations of Developer under this Agreement with respect to the Property, or portion thereof transferred. Failure to deliver a written assumption agreement hereunder shall not affect the running of any covenants with the land, nor shall such failure negate, modify or otherwise affect the liability of the transferee pursuant to the provisions of this Agreement. Any subsequent transfer, sale or assignment shall be subject to the provisions of this Article Three. 1289\02\ 175277 .12 8