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OWNER or its successor in interest, or any participation, encouragement or involvement whatsoever that is adverse to CITY by OWNER or its successor to interest, other than as part of reeuired response to 'awful orders of a court or other body of compotent)unsdiction. OWNER hereby expressly waives, on behalf of itself and itssuccessors in mterest,any claim or challenge to any land use approval affect ng the Property and in effect as of the Effective Date. OWNER hereby acknowledges that it has read and is familiar with the provisions of California Civil Code Section 1542, which is set forth below: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THATTHE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECU'T1NG THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY BY INITIALING BELOW, OWNER HEREBY WANES THE PROVISIONS OF SECTION 1542 IN CONNECI'ION WITH THE MATTERS THAT ARE THE SUBJECT OF THE FOREGOING WAIVERS AND RELEASES. 1 O S Initials 8.5 Survival. The provisions of Sections 8.1 through 8,4, inclusive, shall survive the termination of this Agreement. MORTGAGEE PROTECTION. The Parties hereto agree that this Agreement shall not prevent or limit OWNER, in any manner, ar OWNER's sole discretion, from encumbenng the Properly or any portion thereof or any unprovement thereon by any mortgage, dead of trust or other security device securing financing with respect to the Property. CITY acknowledges that the lenders providing such financing may require certain Agreement interpretations and modifications and agrees upon request, from time to time, to meet with OWNER mid representatives of such lenders to negotiate in good faith any such request for interpretation or modification. CI'l'Y will not unreasonably withhold its consent to any such requested interpretation or modification provided such interpretation or modification is consistent with the intent and purposes of this Agreement. Any Mortgagee of the Property shall be entitled to the following rights and privileges: (a) Neither entering into this Agreement nor a breach of this Agreement shall defeat, render invalid, diminish or impair the lien of any mortgage on the Property made in good faith and for value, unless otherwise required by ;aw. (b) The Mortgagee of any mortgage or deed of trust encumbering the Property, or any part thereof, which Mortgagee, has submitted a requcst in writing to the CITY in the manner specified herein for giving notices, shall be entitled to receive written notification from CITY of any default by OWNER in the performance of OWNER's ohligations under this Agreement. -22- 55..194.0000213 ISS3197.13