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36. Authori y. Each party executing this Agreement on behalf of a party <br />represents and warrants that such person is duly and validly authorized to do so on behalf <br />of the entity it purports to bind and if such party is a partnership, corporation or trustee, <br />that such partnership, corporation or trustee has full right and authority to enter into this <br />Agreement and perform all of its obligations hereunder. <br />37. Time is of the Essence. Time is of the essence of this Agreement and of <br />each and every term and condition hereof. <br />38. Runs with the Land, Recordation. This Agreement pertains to and will run <br />with the Property. Upon execution, this Agreement will be recorded in the Official Records <br />of San Mateo County. Upon completion of performance and satisfaction by Developer of <br />its obligations under this Agreement, including warranty obligations, a written statement <br />will be recorded by City in the Official Records of San Mateo County terminating this <br />Agreement and releasing all of the Property. The recorded written statement does not <br />release the Parties from obligations that survive termination of the Agreement, including <br />indemnification. <br />REV: 01-12-2021 PR <br />[SIGNATURES ON THE FOLLOWING PAGE] <br />ATTY/AGR 2021.006/Stanford Medical (Page 14 of 22) <br />