Common use of Agreement runs with the Land; Transfer of Property Clause in Contracts

Agreement runs with the Land; Transfer of Property. The covenants and agreements of the Grantee and the City contained in this Agreement shall be covenants running with the land pursuant to California Civil Code Section 1460 et seq., shall bind every person having any interest in the Property and the Project, and shall be binding upon and inure to the benefit and burden of the Grantee and the City and their respective heirs, successors and assigns. Any reference to the Grantee in this Agreement shall include successor owners of all or any part of the Property, and all rights and obligations of the Grantee shall accrue to and be imposed upon any and all successor owners of the Property. Without limiting the foregoing, the Grantee further agrees whenever the Property is sold, conveyed or otherwise transferred to a person or entity (each, a “Transferee”), Grantee shall: Notify the Transferee of this Agreement, and provide to the Transferee, not later than ten (10) business days before the date of transfer, a copy of this Agreement, any modifications to this agreement executed pursuant to Section 8.10, and any other material correspondence between City and the Grantee. Notify the City that the Property has been sold, conveyed or otherwise transferred to the Transferee(s) no later than ten (10) business days after the date of the transfer. Grantee’s failure to comply with the notifications requirements in Section 4.5(c) shall constitute an Event of Default under this Agreement in accordance with Section 6.1(c). In the event the Grantee wishes to release any portion of the Property from the terms of this Agreement, in connection with a subdivision or otherwise, then Grantee shall notify the SFPUC of the proposed release and related transaction, including such terms as are necessary to ensure that the Grantee’s obligations under this Agreement will be satisfied with respect to the entire Property. Any such release will be subject to the review and written approval of the SFPUC General Manager, or his or her designee, and shall be recorded against the portion of the Property that is released. As a precondition of receiving the Second Disbursement of Grant Funds as specified in Section 5.3 of this Agreement, Grantee shall record against the Property in the official records of the City’s office of the Assessor-Recorder the Declaration of Deed Restrictions attached hereto as Appendix C.

Agreement runs with the Land; Transfer of Property. The covenants and agreements of the Grantee Property Owner and the City contained in this Agreement shall be covenants running with the land pursuant to California Civil Code Section 1460 et seq., shall bind every person having any interest in the Property and the ProjectStormwater Controls, and shall be binding upon and inure to the benefit and burden of the Grantee Property Owner and the City and their respective heirs, successors and assigns. Any reference to the Grantee Property Owner in this Agreement shall include successor owners of all or any part of the Property, and all rights and obligations of the Grantee Property Owner shall accrue to and be imposed upon any and all successor owners of the Property. Any reference to City herein shall include successor owners of all or any part of the City’s stormwater system, and all rights and obligations of the City shall accrue to and be imposed upon any and all successor owners of such stormwater system. Without limiting the foregoing, the Grantee Property Owner further agrees whenever the Property is sold, conveyed or otherwise transferred to a person or entity (each, a “Transferee”), Grantee shall: Notify it shall notify the Transferee of this Agreement, and provide to the Transferee, not later than ten (10) business days before the date of transfer, a copy of this AgreementAgreement with Exhibits A, any modifications B, C, and D, the SCP, the BMP Maintenance Schedule that is included as Exhibit C to this agreement executed pursuant to Section 8.10, Agreement and any other material correspondence between the City and the Grantee. Notify Property Owner relating to the Stormwater Controls during the preceding two (2) years including but not limited to any notice of default (collectively, “Stormwater Documents”), provided failure of the Property Owner to deliver the Stormwater Documents as set forth above shall not be a defense in any action by the City that the Property has been sold, conveyed or otherwise transferred to the Transferee(s) no later than ten (10) business days after the date for enforcement of the transfer. Grantee’s failure to comply with the notifications requirements in Section 4.5(c) shall constitute an Event terms of Default under this Agreement in accordance with Section 6.1(c)against any Transferee. In the event the Grantee Property Owner wishes to release any portion of the Property from the terms of this Agreement, in connection with a subdivision or otherwise, then Grantee Property Owner shall notify the SFPUC of the proposed release and related transaction, including such terms as are necessary to ensure that the GranteeProperty Owner’s obligations under this Agreement will be satisfied with respect to the entire Property. Any such release will be subject to the review and written approval of the SFPUC General Manager, or his or her designee, and shall be recorded against the portion of the Property that is released. As a precondition of receiving the Second Disbursement of Grant Funds as specified in Section 5.3 of this Agreement, Grantee shall record against the Property in the official records of the City’s office of the Assessor-Recorder the Declaration of Deed Restrictions attached hereto as Appendix C..

Agreement runs with the Land; Transfer of Property. The covenants and agreements of the Grantee Grantee, Owner, and the City contained in this Agreement shall be covenants running with the land pursuant to California Civil Code Section 1460 1460, et seq., shall bind every person having any interest in the Property and the Project, and shall be binding upon and inure to the benefit and burden of the Grantee Grantee, Owner, and the City and their respective heirs, successors successors, and assigns. Any reference to the Grantee and Owner in this Agreement shall include successor owners of all or any part of the Property, and all rights and obligations of the Grantee and Owner shall accrue to and be imposed upon any and all successor owners of the Property. Without limiting the foregoing, the Grantee and Owner further agrees whenever the Property is sold, conveyed conveyed, or otherwise transferred to a person or entity (each, a “Transferee”), Grantee or Owner shall: Notify the Transferee of this Agreement, Agreement and provide to the Transferee, not later than ten (10) business days before the date of transfer, a copy of this Agreement, any modifications to this agreement Agreement executed pursuant to Section 8.1017.2, and any other material correspondence between City and the Grantee. Notify the City that the Property has been sold, conveyed conveyed, or otherwise transferred to the Transferee(s) no later than ten (10) business days after the date of the transfer. Grantee’s or Owner’s failure to comply with the notifications requirements in this Section 4.5(c) 4.6 shall constitute an Event of Default under this Agreement in accordance with Section 6.1(c)11.1. In the event the Grantee or Owner wishes to release any portion of the Property from the terms of this Agreement, in connection with a subdivision or otherwise, then Grantee or Owner shall notify the SFPUC of the proposed release and related transaction, including such terms as are necessary to ensure that the Grantee’s and Owner’s obligations under this Agreement will be satisfied with respect to the entire Property. Any such release will be subject to the review and written approval of the SFPUC General Manager, or his or her their designee, and shall be recorded against the portion of the Property that is released. As a precondition of receiving the Second Disbursement of Grant Funds as specified in Section 5.3 of this Agreement, Grantee shall record against the Property in the official records of the City’s office of the Assessor-Recorder the Declaration of Deed Restrictions attached hereto as Appendix C.