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14. Performance Financial Assurance. City may request Developer to provide <br />a performance bond, security, or other appropriate financial assurance providing for the <br />maintenance of the stormwater treatment measure(s) pursuant to City Stormwater <br />Regulations. <br />15. Notices. The name of the persons who are authorized to give written <br />notices or to receive written notice on behalf of City and on behalf of Developer under this <br />Agreement. <br />For City: <br />City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />(650) 780 - 7000 <br />Attn: City Manager <br />For Developer: <br />Weibin Chen and Si Min Dong <br />430 Hillcrest Dr <br />Redwood City, CA 94062 <br />(408) 215 - 8933 <br />Except as otherwise stated, all notices to be provided or that may be provided under this <br />Agreement must be in writing and delivered by regular and certified mail, return receipt <br />requested. Each party will notify the other immediately of any changes of address that <br />would require any notice or delivery to be directed to another address. <br />16. Assignment by Developer. Developer may assign its obligations under this <br />Agreement only with the City Manager's prior written approval. In connection with any <br />such assignment, Developer and its assignee will execute and deliver to City a written <br />assignment and assumption agreement in a form reasonably acceptable to the City <br />Attorney. <br />17. Assignment By City. City may assign its rights and obligations under this <br />Agreement to a municipal services district or other public agency without Developer's <br />consent. <br />18. Covenant Running with the Land. This Agreement pertains to and runs with <br />the Property in perpetuity, and will be recorded against the Property at Developer's <br />expense. This Agreement binds the assigns and successors -in -interest of Developer, <br />including any transferee of any fee interest within the Property. City and its successors <br />and assigns, in the event of any breach of this Agreement, will have the right to exercise <br />all of the rights and remedies, and to maintain any actions at law or suits in equity or other <br />proper proceedings against Developer or its permitted successors and assigns to enforce <br />the curing of such breach. <br />19. Release of Acireement. In the event that City determines that the <br />stormwater treatment measure(s) located on the Property are no longer required, then <br />City, at the request of Developer will execute a release of this Agreement, which <br />Developer will record at Developer's expense. City reserves the option to record such <br />release of this Agreement. The stormwater treatment measure(s) will not be removed <br />from the Property unless such a release is so executed and recorded. <br />REV: 06-11-24 VR <br />ATTY/AGR.2024.082/weibin Chen and Si Min Dong (430 Hillcrest Dr) (Page 5 of 17) <br />