RecDoc 2022-004139 STMMA Agreement South Main

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this Agreement will not be deemed to create or effect any additional liability not otherwise provided by law of any party for damage alleged to result from or caused by stormwater runoff. 14. Performance Financial Assurance. City may request Developer to provide a performance bond, security, or other appropriate financial assurance providing for the maintenance of the stormwater treatment measure(s) pursuant to City Stormwater Regulations. 15. Notices. The name of the persons who are authorized to give written notices or to receive written notice on behalf of City and on behalf of Developer under this Agreement. For City: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 (650) 780 - 7000 Attn: City Manager For Developer_ Name: Jonathan Fearn Address: 450 Sansome St., Suite 500 San Francisco, CA 94111 Phone No: (415) 527- 2869 Except as otherwise stated, all notices to be provided or that may be provided under this Agreement must be in writing and delivered by regular and certified mail, return receipt requested. Each party will notify the other immediately of any changes of address that would require any notice or delivery to be directed to another address. 16. Assignment by Developer. Developer may assign its obligations under this Agreement only with City's prior written approval. In connection with any such assignment, Developer and its assignee will execute and deliver to City a written assignment and assumption agreement in a form reasonably acceptable to the City Attorney. 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. 17. 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. 18. Covenant Running with the Land. 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 lot, 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. REV: 08-16-2021 SK ATTY/AGR.2021.219/South Main (Page 6 of 19)