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2. Grantee covenants and agrees for itself, its successors, its assigns and every successor in <br />interest that during construction of the improvements and thereafter, Grantee, its successors and assigns <br />shall devote the Properties to the uses specified in the Redevelopment Plan for the remainder of its term <br />for the periods of time specified therein, and in the DDA for the periods of time specified therein. Subject <br />to the respective periods of time, the foregoing covenant shall run with the land. <br />3. Grantee shall not, except as permitted by the DDA, sell, transfer, convey, assign or lease the <br />whole or any part of the Properties or the buildings, structures, or improvements on the Properties without <br />the prior approval of Grantor, which approval will not be unreasonably withheld by Grantor. This <br />prohibition shall not be deemed to prevent granting of easements or permits to facilitate the development <br />of the Properties. <br />4. Prior to Grantor's issuance of the Certificate of Completion of construction of the improvements <br />on the Properties as provided for in the DDA, Grantor shall have the right, at its option, to exercise its <br />power of termination and all rights under, and in accordance with, California Civil Code Section 885.010, et <br />seq., and to reenter and retake possession of the Properties and all improvements thereon, and terminate <br />the estates herein conveyed to Grantee and revest in Grantor the estates herein conveyed to Grantee, if <br />Grantee (or its successors or assigns), in violation of the DDA: <br />(a) does not attempt in good faith to procure in a timely manner building permits or other <br />approvals for the construction of improvements as provided for in the DDA, or abandons any further <br />attempts at procuring same when there is a reasonable likelihood that such permits or approvals would <br />otherwise be issued by the proper authority in a timely manner and in substance satisfactory to Grantee; or <br />(b) constructs or attempts to construct the improvements as provided for in the DDA in <br />material deviation from the approved Construction Plans, as referenced in the DDA; or <br />(c) absent an enforced delay as defined in Section 3.04 of Part Four of the DDA, fails to <br />commence construction of improvements on the Properties or to complete same within the time limits set <br />forth in the DDA; or <br />(d) absent an enforced delay as defined in Section 3.04 of Part Four of the DDA, abandons or <br />suspends construction of the improvements on the Properties for a period of sixty (60) days after written <br />notice by Grantor of such abandonment or suspension; or <br />(e) voluntarily or involuntarily undertakes a sale, transfer, conveyance, assignment or lease of <br />the Properties or the improvements thereon not permitted by the DDA; or <br />(f) is in breach or default as described in Section 6.04 of Part Three of the DDA. <br />Grantor's power of termination shall be exercised by notice or by civil action and the exercise shall <br />be of record. The notice shall be given, and any civil action shall be commenced, within sixty (60) days <br />after breach of the restrictions to which the estate herein conveyed is subject, or such longer period as <br />Grant Deed <br />467 and 635 Marina Boulevard Page 2 <br />