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4.12 Parcel Man. <br />Developer shall apply for and diligently pursue a parcel map for the Property <br />with the City of San Leandro. <br />Article Five: CHANGES IN DEVELOPER <br />5.01 Identity of Developer. <br />The Developer is a Limited Liability Corporation. <br />5.02 Changes Only Pursuant To This Agreement. <br />The qualifications, experience and expertise of Developer is of particular <br />concern to the Agency. It is because of these qualifications, experience and expertise <br />that the Agency has entered into this Agreement. No voluntary or involuntary <br />successor in interest to Developer shall acquire any rights or powers under this <br />Agreement, except as hereinafter provided. <br />5.03 Prohibition Against Transfer of Property and Assignment of Agreement. <br />Prior to the issuance by the Agency of a Certificate of Completion for the <br />Improvements, the Developer shall not voluntarily or involuntarily make or attempt <br />any total or partial sale, transfer, conveyance, assignment or lease ("Transfer") of the <br />whole or any part of the Property or the buildings or structures thereon or this <br />Agreement without the prior written approval of the Agency. The Agency's approval <br />may be given by the Executive Director unless the Executive Director, in his or her <br />discretion, refers the matter of approval to the Agency Board. This prohibition shall <br />not apply to any portion of the Property for which a Certificate of Completion has <br />been issued. Neither shall this prohibition be deemed to prevent the granting of <br />temporary easements or permits to facilitate development or the dedication of <br />Property required pursuant to this. Agreement. <br />If the Developer proposes a Transfer of the Property or a portion thereof, the <br />proposed transferee shall have the qualifications and financial resources necessary and <br />adequate as may be reasonably determined by the Agency to fulfill the obligations <br />undertaken in this Agreement by the Developer. Any transferee, by instrument in <br />writing satisfactory to the Agency and in form recordable among the land records, for <br />itself and its successors and assigns, and for the benefit of the Agency shall expressly <br />Disposition and Development Page 13 of 30 <br />Agreement - Vanuatu Properties Draft December 4, 1997 <br />