AgdaPkt 2013-11-18 Special - Laserfiche WebLink

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7.1 .D. - Page 46 connection herewith. This section shall not apply to any claims, demands, suits, damages, liabilities, losses, accidents, casualties, occurrences, and payments, including attorney fees, which arise due to the gross negligence or willful misconduct of the City. 11 . No Additional Liabilitv. It is the intent of this Agreement to insure the proper maintenance of the stormwater treatment measure(s) by the Property Owner; provided, however, that this Agreement shall not be deemed to create or effect any additional liability not otherwise provided by law of any party for damage alleged to result from or caused by storm water runoff. 12. Pertormance Financial Assurance. Upon the occurrence of an uncured Maintenance Deficiency, the City may request the Property Owner to provide a performance bond, security, or other appropriate financial assurance providing for the maintenance of the stormwater treatment measure(s) pursuant to the City's ordinances, guidelines, criteria or written direction. 13. Transfer of Propertv. This Agreement shall run with the title to the land and any portion thereof. The Property Owner further agrees whenever the Property or any portion thereof is held, sold, conveyed or otherwise transferred, it shall be subject to this Agreement which shall apply to, bind and be obligatory to all subsequent owners of the Property or any portion thereof. The Property Owner agrees not to sell, transfer, assign or otherwise dispose of ownership of the Property, unless the prospective purchaser, transferee or assignee expressly promises in writing to be bound by all of the provisions hereof. Upon such successor assuming all obligations and agreeing to be bound by this Agreement, such party shall constitute the "Property Owner" hereunder and all predecessors-in-interest to such party shall be fully relieved of the obligations hereunder and shall have no liability for any default or failure to pertorm occurring from and after the date of such assignment and assumption. 14. Notices. The name of the persons who are authorized to give written notices or to receive written notice on behalf of City and on behalf of the Property Owner under this Agreement. For Citv: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attn: City Manager For Propertv Owner: LMI Redwood City Holdings LLC c/o Lennar Multifamily Investors, LLC c/o Lennar Corporation 25 Enterprise, Suite 330 Aliso Viejo, CA 92656 Attn: Alex Waterbury ATTY/AGR/2013.218/STMMA 601 MAIN STREET REV: 11-12-13 VR Page 6 of 15