Laserfiche WebLink
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. Joint and Several LiabiR . With respect to the obligations under this <br />Agreement, Kopf A and IQHQ TRS are jointly and severally liable for the obligations that <br />related to the Kopf Parcel A Property. Kopf B, C, E, and IQHQ are jointly and severally <br />liable for the obligations that related to the Kopf Parcels B, C, E Property. However, the <br />City recognizes that each of the projects on the Kopf Parcel A Property and the Kopf <br />Parcels B, C, E Property are separate and distinct, and as such, in the event of a default <br />hereunder, the City shall seek enforcement of this Agreement against Kopf A and IQHQ <br />TRS for Kopf Parcel A Property defaults and Kopf B, C, E and IQHQ for Kopf Parcels B, <br />C, E Property defaults. <br />39. 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 this Agreement, including <br />indemnification. <br />REV: 04-07-2022 SK <br />Signature page follows <br />ATTY/AGR.2022.083/South Main SIA (Page 17 of 26) <br />