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<br /> transferred obligations of Developer under this Agreement with respect to the Property, ar
<br /> portion thereof traxlsferred. Failure to deliver a written assumpiion agreernent hereunder sh.a11 nofi
<br /> affect the running of any covenants with the land.,nor shall such failure negate, m.odify or
<br /> �therwi�e aifect�lae liability of tl�e transferee pu�suant to the provisions of tlus Agreement. Any
<br /> subsec�uent transfer, sale or assignment shall be subject to the provisions of this Article Three.
<br /> 3.2 Agreem�nt Runs with the Land.
<br /> All of the provisions, rights, tenns, covenants, and ob3igations contained in this
<br /> Agreeinent shall be binding upon the Parties and their respcctive h.eirs, successors and assignees,
<br /> representatives, Iessees, and all other persans acquiri».g the Praperty, or any portion ihereof., or
<br /> any interest therein,whether by operation of law or in any manner whatsoever. All of the
<br /> provisions of this Agreernent shall be enforceable as equitabte servitudes and shall constitute
<br /> covenants running with the land pursuant to applicable laws, including, but not Iimited to,
<br /> Section 1468 of the Civil Code of the State of California. Each covenant io do, or refrain from
<br /> doing, some act on the Property hereu��der, or with respect to any owned property: (a}is for the
<br /> benefit of such properties and is a burden upon such properties, {b)runs with such properties,
<br /> and (c) is binding upon each Party and each successive owner during its ownership of such
<br /> properties or any portion thereof, and si�all be a bencfit ta and a burden upon each Party and its
<br /> property hercunder and each other person succeeding to an interest in such properties.
<br /> ARTICLE 4: DEVELOPMENT STANDARDS AND REQUIREMENTS
<br /> 4.1 Compliance with State and Federal Law. Developer, at its sole cost and expeiise,
<br /> shall com.ply with requireznents af, and ol�iain all permits and approvals required by, regional,
<br /> state and fcderal agencies having jurisdiction over the Project.
<br /> 4.2 Prevailin�Wa�e Requirements.
<br /> {a) Developer acknawledges and agrees that alI improvements to be
<br /> constructed on public property("Pvb[ic Property Improvements"), including those identified
<br /> in the In.frastructure and Financing Pl.an, constitute public works projects for which prevailing
<br /> wages are required to be paid. Accordingly, Developer shall comply with, and shall cause its
<br /> coniraciors and subcontractors to comply with all California Labor Code requirements an.d
<br /> implementing regulations of ihe Califomia Department of Industrial Relatio�as pertaining to
<br /> "public works" {callectively, "Prevailiiig Wage Laws"), including the payment of prevailing
<br /> wages in connection with construction of tlie Public Property I�nprovements. Developer shall
<br /> require the general contractor foz tlae Public Property Improvements to submit to City, upon
<br /> City's request, certified copies of payroll records, and to znau�taix� azad inake available to City and.
<br /> its desigiiees,payroll records for inspection and capying to ensure compliance with Prevailing
<br /> Wage Laws. Deveioper sha11 also include in each of its coniractor agraements pertazning to the
<br /> Public Property Impravements, a provision in form reasonaUly acceptable to City, obliga#i.ng the
<br /> contractor to require i.ts subcontractors to comply with Prevailing Wage Laws, and to submit,to
<br /> City, upon City's request, certifed copies ofpayroll records, and to maintain and make available
<br /> to City and its designees, payrol� records for inspection and copying during regular business
<br /> hours at the Property or at ax�oth.er Iocati.on within the City of Redwood City.
<br /> 1025843-6 1�
<br /> DRAFT 12/12/07 3:�0 PM
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