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obligationsp' <br /> totheportrPetxittted Asignxnent, including, without ltnnttatiort, e ,avisr of thiecron,i 6 vcrth r <br /> res ct toaii sale asst etat;or trap bus x' <br /> pe y g?m Sl y by s ch` g l ssig e �ofany tJ.Jp *def <br /> tht's Afire rent , <br /> 1.;G 3 C Except,} s ©fhet�uasepl� edb N► e� ^c ftq <br /> to a ermit[ed Ass exit m circ �' } <br /> . ti stances�uhete` e ��t d riot lV11hcrwtsefd, <br /> sat> fatiori with the requiremetts,afectton 1 6yf � 4irtitt shall release <br /> the Y]e�eloPct from any further obkt atronsunder t#ii #fit) .>re ect Y!{_`�'e ortioii of <br /> the Property so assigned.or transferred to a Recog3[r �ed 11ttee;`prxtided, cever,thata(lus <br /> rovi ion shat r -1 Y <br /> s l not be deerned.to release.the.I7evelo alr. ationsas uiried. Tier <br /> P MP ' <br /> other agreements or 111-connection with the Existecurity for perf©rmanee. <br /> of obligations), nor shall it be deemed to release the Developer .from obligations accruing,or <br /> liability for defaults under this Agreement occurring pno> to the effective date of such Permit#ed:. <br /> Assignment except where a Recognized Assignee Lias agreed to;expressly assume 11dliability <br /> and obligation to cure such a default and County has expressly'consented'to`the>release.o# . <br /> Developer from such liability and such obligation-to calre: <br /> 1.6.4. The conditions and standards to.be applied'by County pursuant to <br /> Section 1.6.3, are as follows: <br /> 1.6.4.A To the extent that substantial commitments or other actions on its <br /> f part are required resulting in its entering into a Subsequent Development Agreement Developer <br /> shall represent that such purchaser, assignee or transferee possesses the related experience, good <br /> reputation and financial resources or access to financial resources to implement the Existing <br /> Approvals and cause the Property, or portion thereof to be transferred, to be developed(and <br /> maintained, with respect to Infrastructure until acceptance by the applicable public entity) in the <br /> manner contemplated by the Existing Approvals and this Agreement; provided, however, that <br /> this standard shall be deemed satisfied if such purchaser, assignee or transferee is a wholly <br /> owned affiliate of the Developer; <br /> F 1.6.4.13. Such purchaser, assignee or transferee shall enter into a written <br /> Assumption Agreement, ready for recordation, in form and content substantially in the form <br /> attached hereto as Exhibit D and approved by County Counsel, expressly assuming and agreeing <br /> to be bound by the provisions of this Agreement; and, <br /> i <br /> 1.6.4.C. Developer shall represent that such sale, assignment or transfer <br /> will not cause a substantial delay not anticipated by the County in the implementation of the <br /> items in Exhibit C, Part i nor impair the ability of the County to achieve the benefits of the items <br /> in Exhibit C, Pant I or other provisions of this Agreement in a timely manner; and, <br /> 1.6.4.D The assigning Developer shall not be in material default under <br />{ this Agreement. <br /> 1_6.5. Notwithstanding the foregoing provisions of this Section 1.6, Mortgages <br /> with respect to the Property are permitted without the consent of the County, provided the <br />`r <br /> t <br /> W02-SF:FPD161491 145.2 -20- <br />