RDA Agmt 1996 Batarse Family Trust etc

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Batarse, Jr. shall tender to Agency a personal guaranty for the Shortfall in the form of the attached Exhibit F. • 5.06 Documenting Annual Sales, So long as the Annual Sales provisions of this Article Five are still in effect, Developer shall furnish copies of all Developer's Marina Boulevard automobile dealerships' and sales centers' quarterly sales tax returns to the Finance Director of the Agency not later than seven (7) days after said returns have been filed with the State Board of Equalization. Agency shall have the right to examine the books, records and financial statements of said dealerships and sales centers to determine • that transactions regarding the sale and lease of automobiles have been accounted for properly. . 5.07 Obligation Binding on Successors, The obligation to make Annual Sales, pay the Shortfall Amount, and maintain the letter of credit as set forth in this Article Five, shall inure to the benefit of and be • binding upon Developer's successors, heirs and assigns. In addition, while the Annual Sales provisions of this Article Five are still in effect, the obligations of this Article • Five shall be recorded in the Grant Deed from Agency to Developer and in all subsequent deeds, leases and contracts made or entered into by Developer, its successors or assigns, as to any portion of the Property. • Article Six: CHANGES IN DEVELOPER 6.01 Identity of Developer. The Developer is a revocable living trust. • 6.02 Changes Only Pursuant To This Agreement. The qualifications, experience and expertise of Developer is of particular concern to the Agency. It is because of these qualifications, experience and expertise that the Agency has entered into this Agreement. No voluntary or involuntary successor in interest to Developer shall acquire any rights or powers under this Agreement, except as hereinafter provided. Disposition and Development Page 17 of 39 Agreement (Automall) 10/2/96