RecDoc2023-001826 242 Walnut Street

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28. 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. 29. Binding Upon Heirs Successors and Assigns. The terms, covenants and conditions of this Agreement will be binding upon all heirs, successors and assigns of the Parties hereto. 30. Interpretation. The word "including" will be construed as if followed by the words "without limitation." All recitals to this Agreement are incorporated by reference as though fully restated herein. All exhibits and attachments to this Agreement are incorporated by reference as though fully restated herein. This Agreement will be interpreted as though prepared jointly by both Parties. Section headings in this Agreement are for convenience only and are not intended to be used in interpreting or construing the terms, covenants or conditions contained in this Agreement. 31. Severability. If any provision of this Agreement is held, to any extent, invalid, the remainder of this Agreement will not be affected, except as necessarily required by the invalid provision, and will remain in full force and effect. 32. Entire Agreement. The terms and conditions of this Agreement constitute the entire agreement between City and Developer with respect to the matters addressed in this Agreement. This Agreement may not be altered, amended or modified without the written consent of all Parties hereto. 33. Governing Law- Venue. This Agreement will be construed and enforced in accordance with the laws of the State of California, without reference to choice of law provisions. Any legal actions under this Agreement will be brought only in the Superior Court of the County of San Mateo, State of California. 34. Authority. Each party executing this Agreement on behalf of a party represents and warrants that such person is duly and validly authorized to do so on behalf of the entity it purports to bind and if such party is a partnership, corporation or trustee, that such partnership, corporation or trustee has full right and authority to enter into this Agreement and perform all of its obligations hereunder. 35. Time is of the Essence. Time is of the essence of this Agreement and of each and every term and condition hereof. 36. Runs with the Land; Recordation. This Agreement pertains to and will run with the Property. Upon execution, this Agreement will be recorded in the Official Records of San Mateo County. Upon completion of performance and satisfaction by Developer of its obligations under this Agreement, including warranty obligations, a written statement will be recorded by City in the Official Records of San Mateo County terminating this Agreement and releasing all of the Property. The recorded written statement does not REV: 09-23-22 JB ATTY/AGR.2022.359/PBA II, LLC (242 Walnut Street) (Page 11 of 15)