SU0006254 - Laserfiche WebLink

Home Browse Search

L ' obligations pertain to the portion of the Property sdld,astgned Q transferred to tt under a Perrot ed Assigim- ent, in 41" wttliQut lrtnttattgt;46 p t s, l#fats` cotton'l 6 with sada Y respect to arty sale,;asstgturtent.or transfetr b such icax es�grty ,©f any tttteiestahtder th"' AAreement a E a x 1.6 C Excptxs othet�vtp soy tQt�ser ` , tomermttted Assgnrnett to c>rcumstatices vuhere;.theo�ti �dtther e fwd sat>lsfaction with the requireYnents ofbctton 6 r atA� GAt�tetit=shall" Prelease the Deve oper frorn any further.obltgati.o under##pp?0L J`h=t'aspe thb portion of the Property so assigned or tranSferred.to a Recogttted stteb3rautdeid,hQ +ever,that this provision shall not be eleemed.to release the lleveloper&or t arty1a#�, tions assum ed under , other•agreements or in connection with the Existing Approvals sttch as secdi-tty for performance ofobligations), nor shall it be deemed.to release the Developer fro obligations accruing or liability for defaults under this.Agreeinent occurring prior to the:effective date ofsetch-Permitted Assignment except where a Recognized Assignee has,agree¢'to;expressly assume the liability and obligation to cure such a default and Comity has exressly.conSetrted to the;' lease i f Developer from such liability and such obligation to cure_ 1.6.4. The conditions and standards to be applied by County pursuant to Section 1.6.3. are as follows: 1.6.4.A To the extent that substantial commitments or other actions on its part are required resulting in its entering into a Subsequent Development Agreement Developer shall represent that such purchaser, assignee or transferee possesses the related experience, good reputation and financial resources or access to financial resources to implement the Existing Approvals and cause the Property,or portion thereof to be transferred, to be developed(and maintained, with respect to Infrastructure until acceptance by the applicable public entity) in the manner contemplated by the Existing Approvals and this Agreement,' provided, however, that this standard shall be deemed satisfied if such purchaser, assignee or transferee is a wholly owned affiliate of the Developer; 1.6.4.8. Such purchaser, assignee or transferee shall enter into a written Assumption Agreement, ready for recordation, in form and content substantially in the form attached hereto as Exhibit D and approved by County Counsel, expressly assuming and agreeing to be bound by the provisions of this Agreement; and, 1.6A.C. Developer shall represent that such sale, assignment or transfer will not cause a substantial delay not anticipated by the County in the implementation of the items in Exhibit C, Part I nor impair the ability of the County to achieve the benefits of the items in Exhibit C, Part [or other provisions of this Agreement in a timely manner; and, 1.6.4.D The assigning Developer shall not be in material default under this Agreement. t.6.5. [Notwithstanding the foregoing provisions of this Section 1.6, Mortgages with respect to the Property are permitted without the consent of the County, provided the W02-SF FPD16t481145-2 -20-