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6.1.J. - Page 48 successors of Declarant by operation of law or by exercise of the remedies under a mortgage, deed of trust or deed in lieu of foreclosure. 1.3. "Declaration" means this Declaration of Covenants, Conditions and Restrictions for 2580 El Camino Real—Urban Housing Redwood City LLC, and any amendments thereto. 1.4. "Owner" means the fee owner of the Property, including the following: If Owner transfers its present interest in the Property or a portion of such interest in such manner as to vest its present interest in such Property in more than one Person other than by creation of a separate legal parcel, then not less than a majority in interest of such transferees shall designate one of their number to act on behalf of all of such transferees in the exercise of the powers granted to the Owner under this Declaration. So long as such designation remains in effect, such designee shall be an Owner hereunder and shall have the power to bind the Property and such other Owners. Such designation shall not release such Owners from liability hereunder. Any such designation must be in writing and served upon the Declarant. 1.5. "Person" means a natural individual or any legal entity recognized under California law. When the word "person" is not capitalized, the word refers only to a natural person. 1.6. "Project"refers to the Apartment Project. 1.7. "Property" refers to the real property described in Exhibit "A" attached hereto and incorporated herein by reference. ARTICLE 2 COVENANTS, CONDITIONS AND RESTRICTIONS 2.1. Declaration. Declarant declares that the Property is, and shall be, held, conveyed, hypothecated, encumbered, leased, rented, used, occupied and improved as a residential project. Prior to selling any of the residential units in the Property as condominiums as such term is defined in Section 1351 of the California Civil Code, the Declarant shall amend and restate this Declaration in its entirety to include all of the rights and obligations pertaining to the condominiums, which amendment and restatement shall be subject to the provisions of Section 2.2 below. The foregoing limitations, restrictions, covenants and conditions shall run with the land, shall be binding on and inure to the benefit of all parties having or acquiring any right, title or interest in the Property, shall be enforceable equitable servitudes and shall be binding on and inure to the benefit of the successors-in-interest of such party. 2.2. Amendment. No modification, waiver, amendment, discharge, or change of this Declaration ("Amendment") shall be valid unless the Amendment (a) is in writing, (b) is signed by the Owner, and (c) is approved by the City Manager of the City (the "City Manager") which approval shall not be unreasonably withheld or delayed. Any Amendment must comply with the conditions of approval to the tentative map approved by the Planning Commission on February 13, 2012, attached hereto as Exhibit `B" and incorporated herein. The City shall have thirty (30) days to approve or reasonably to disapprove any Amendment. If the City fails to do so within such thirty (30) day period, then the Owner may send the City Manager a written notice requesting such approval within an additional ten (10) days. If the City Manager does not ATTY/AGR/2012.075/2580 ECR(URBAN HOUSING)CCRS REV:06-08-12 VR Page 2 of 10