AgdaPkt 2021.02.08 Joint SA PFA - Laserfiche WebLink

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8.A. - Page 96 of 154 12. DEFAULT. The failure to maintain the Improvements will constitute an event of default. In the event of such default, City may provide written notice of default to Developer. Upon receipt of such written notice, Developer will have thirty (30) days to remedy such event of default (or such longer period of time as may reasonably be required, as determined by City, provided that Developer commences to remedy such default within thirty (30) days and thereafter diligently prosecutes such remedy to completion). If Developer fails to remedy the event of default within the prescribed time period, City will have the right to do all work necessary to remedy the event of default and charge Developer pursuant to the terms of Section 6, above. 13. ASSIGNMENT BY CITY. City may assign its rights and obligations under this Agreement to a municipal services district or other public agency without Developer's consent. 14. AGREEMENT ATTACHES TO LAND AND BINDS DEVELOPER'S SUCCESSORS AND ASSIGNS. This Agreement pertains to and runs with the Property in perpetuity, and will be recorded against the Property at Developer's expense. This Agreement binds the assigns and successors -in -interest of Developer, including any transferee of a fee interest in any unit located within the Property. City and its successors and assigns, in the event of any breach of this Agreement, will have the right to exercise all of the rights and remedies, and to maintain any actions at law or suits in equity or other proper proceedings against Developer or its permitted successors and assigns to enforce the curing of such breach. 15. ASSIGNMENT BY DEVELOPER. Developer may sell and/or grant the fee interest of lots/units or common area located on the Property and thereby transfer all of its obligations under this Agreement to its successors. Upon the sale and/or grant of a fee interest in a particular lot or common area located on the Property, Developer's obligations under this Agreement will inure to its successor -in -interest and Developer will thereafter be released from its obligations under this Agreement with respect to such lot or common area. However, Developer may only assign its obligations under this Agreement to the HOA with the prior written approval of City. In connection with any such assignment to the HOA, Developer and its assignee will execute and deliver to City a written assignment and assumption agreement in a form acceptable to City Attorney. 16. NOTICES. Any notices relating to this Agreement will be given in writing and will be deemed sufficiently given and served for all purposes when delivered personally or by generally recognized overnight courier service, or five (5) days after deposit in the United States mail, certified or registered, return receipt requested, with postage prepaid, addressed as follows: To Developer: 1548 Maple, LLC c/o The Carlyle Group Attn: Michael Osborne 555 Mission Street, Suite 3300 San Francisco, CA 94105 REV: 01-20-2021 PR ATTYIAGR.2021.00811548 Maple LLC (Page 8 of 29) 308