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performed under the Option Agreement and this Memorandum, whether to be performed on the <br /> Property or elsewhere and whether such obligations are affirmative or negative in nature, are <br /> intended to and shall bind Owner and Optionee and shall bind and inure to the benefit of and <br /> their respective heirs, successors and assigns. <br /> IN WITNESS WHEREOF, Owner and Optionee have signed this Memorandum of <br /> Option Agreement dated as of the date first set forth above. <br /> OWNER: <br /> a <br /> By: <br /> Name: <br /> Its: <br /> OPTIONEE: <br /> CITY OF REDWOOD CITY, a charter city and <br /> municipal corporation of the State of California <br /> By: <br /> Name: <br /> Its: <br /> Option Agreement 50 Chemical <br /> 10.5.2010 v. 8 <br /> 35 <br />