RecDoc 2020-075564 - Covenant for No Build Easement

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permanent building or structure commenced, installed, built, or constructed in violation of this Covenant. As used herein, the term "occupant" shall mean Tranente and/or its successors in interest who hold fee title to all or any portion of Parcel Two and those persons and/or entities entitled by ownership, leasehold or other legal relationship to the right to use and/or occupy all or any portion of Parcel Two (and/or those portions of Parcel Two affected by this Covenant). If any Party affected by this Covenant shall bring any action or legal proceeding against any other Party in connection with this Covenant, the prevailing party shall be entitled to recover from the other Party(ies) in such action or proceeding its reasonable attorneys' fees and costs of suit. (i) All purchasers, transferees, grantees, tenants, subtenants, and/or possessors of Parcel Two (and/or those portions of Parcel Two affected by this Covenant) shall be deemed by their purchase, leasing, and/or possession of such Parcel Two (or portion thereof) to be bound by this Covenant. 0) This Covenant may be executed in counterparts, each of which shall be deemed and original and together shall constitute one instrument. In the event of any disparity between the counterparts produced, the recorded counterpart shall be controlling. (k) The validity, interpretation, and performance of this Covenant shall be governed and construed in accordance with the laws of the State of California. Venue for all disputes between the Parties under or with respect to this Covenant, or applicable part thereof, shall be in San Mateo County, California. (1) If any provision of this Covenant, or the application thereof to any person or circumstances, is found to be invalid, the remainder of the provisions of this Covenant, or the application of such provision to persons or circumstances other than those as to which it is found to be invalid, as the case may be, shall not be affected thereby. (m) Time is of the essence in the performance of the Parties' respective obligations pursuant to this Covenant. All exhibits attached hereto are by this reference made a part hereof. The captions in this instrument have been inserted solely for convenience of reference and are not a part of this instrument and shall have no effect upon construction or interpretation. (n) The owner of Parcel Two and the City, at any time and from time to time following receipt of not less than thirty (30) business days' prior written notice from any of them (or from any prospective tenant or lender with respect to Parcel Two) or any first mortgagee or holder of a first deed of trust encumbering Parcel Two shall execute, acknowledge and deliver to the requesting Party and to any prospective purchaser, tenant or mortgagee or deed of trust holder of any part or interest in the real property encumbered by this Covenant, a statement of such owner or the City, as applicable, confirming that (i) this Covenant is unmodified and in full force and effect (or, if there have been modifications, that this Covenant is in full force and effect as modified and stating the modification(s)), and (ii) to the best of such Party's actual knowledge, whether or not there are then existing any defaults by the owner of Parcel Two or the City, in the performance of any obligations under this Covenant (and if so, specifying same) ("Estoppel Statement"). REV: 05-08-2020 PR ATTY/AGR.2020.072/TRANENTE ONE LLC (Page 4 of 10)