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6.D. - Page 15 of 26 <br />37. Time is of the Essence. Time is of the essence of this Agreement and of each and every <br />term and condition hereof. <br />38. Runs with the Land; Recordation. This Agreement pertains to and shall run with the <br />Property, Upon execution, this Agreement shall be recorded in the Official Records of San Mateo <br />County, Upon completion of performance and satisfaction by Developer of its obligations under this <br />Agreement, including warranty obligations, a written statement shall be recorded by City in the Official <br />Records of San Mateo County terminating this Agreement and releasing all of the Property. The recorded <br />written statement does not release the parties from obligations that survive termination of the Agreement, <br />including indemnification. <br />IN WITNESS WHEREOF, City and. Developer have executed this Agreement as of the Effective <br />Date. <br />DEVELOPER <br />[Signature njust be notarized] <br />Jason Brggs, General Counsel <br />[Signature must be notarized] <br />CITY <br />CITY OF REDWOOD CITY, a <br />charter city „and municipal corporatipn <br />Mel' sa Stevenson Diaz, City Manager <br />be notarized] <br />City Clerk <br />REV: 06-02-16 VR <br />Page 12 of12 <br />ATTYIAGR.2016.116/150 ECR - SummerHill - IA <br />53 <br />