Laserfiche WebLink
the Property in violation of the DDA, and the occurrence of certain other events of <br /> default, as more particularly described in the DDA. <br /> 4. Restrictions on Transfer. The DDA further provides that prior to completion of <br /> the Project: (i) except as permitted by the DDA, Developer shall not voluntarily or <br /> involuntarily make or attempt any total or partial sale, transfer, conveyance, assignment <br /> or lease of the whole or any part of the Property or the improvements located thereon <br /> without the prior written approval of the City; and (ii) any transferee of all or part of the <br /> Property shall be subject to and shall expressly assume all of the covenants, obligations <br /> and restrictions of the DDA which pertain to the portion of the Property transferred, <br /> including without limitation, the provisions of the Regulatory Agreement. <br /> 5. DDA Controls. The Parties have executed and recorded this instrument to give <br /> notice of the DDA and the respective rights of the Parties thereunder. Copies of the <br /> unrecorded DDA are available at the offices of the City, 835 East 14th Street, San <br /> Leandro, CA 94577, and such document is incorporated by reference in its entirety in <br /> this Memorandum. This Memorandum is solely for recording purposes and shall not be <br /> construed to alter, modify, amend or supplement the DDA. In the event of any <br /> inconsistency between this Memorandum and the DDA, the DDA shall control. <br /> 6. Interpretation; Counterparts. This Memorandum shall be interpreted and <br /> enforced in accordance with California law without regard to principles of conflict of <br /> laws. This Memorandum may be executed in counterparts, each of which shall be an <br /> original and all of which together shall constitute one instrument. <br /> 7. Binding Effect. The DDA shall bind and inure to the benefit of the Parties and <br /> their respective successors and assigns, subject to the provisions of the DDA <br /> concerning assignment. <br /> 8. Termination. Upon completion of construction of the Project in accordance with <br /> the DDA, the restrictions upon transfer described in Section 4 and the City's rights to <br /> reacquire the Property described in Section 3 shall terminate and upon request, City <br /> agrees to record a Certificate of Completion, and a termination of this Memorandum. <br /> SIGNATURES ON FOLLOWING PAGE <br /> 1889306.1 <br />