Assignment and Release of Project Infrastructure Obligations Sample Clauses

Assignment and Release of Project Infrastructure Obligations. 19.2.1 Landowner shall remain responsible for all obligations and requirements under this Agreement after the effective date of a Transfer unless Landowner satisfies the following conditions: (i) prior to the effective date of the Transfer, Transferee executes and delivers to County (with a copy to City, and directly to City if applicable as to any annexed Property) an Assignment and Assumption Agreement substantially in the form set forth in Exhibit L to this Agreement specifying the obligations and requirements to be assumed by the Transferee; (ii) Landowner has not received a notice of a Default under this Agreement that remains uncured as of the effective date of the Transfer; and (iii) if required, Landowner has received from the Local Agency’s Planning Director the consent to the Assignment and Assumption Agreement as follows: If Transferee is to assume any of the obligations or requirements to construct Project Infrastructure (but not including within such construction obligations or requirements the requirements to maintain Project Infrastructure to be assumed by owners association(s) as provided in Section 16 above), then prior written consent of the Local Agency shall be required, which consent shall not be unreasonably withheld, conditioned or delayed so long as the proposed Transferee, to the reasonable satisfaction of the Local Agency Planning Director, has experience acting as the developer of projects similar in size and complexity to the development opportunity being transferred and the Transferee has the financial resources necessary to develop or complete the Project Infrastructure associated with development of the Transferred Property. If the Planning Director does not provide Consent, he or she shall state the reasons for the refusal and the corrections to be made to obtain such Consent.
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