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Development may exceed in either the short run or the long run <br />the allocated capacities for such demands. <br /> <br /> After assessing these and other potential adverse <br />environmental impacts associated with the development of the <br />Property, the City has imposed mitigation measures through the EIR, <br />the subdivision review process, and this Development Agreement to <br />the fullest extent the city considers feasible and necessary. The <br />City has determined that phased completion of the Development in <br />the manner contemplated will itself provide the mitigation measures <br />needed to contribute to alleviate short run and long run potential <br />adverse environmental impacts, and that the public benefits of the <br />Development override any potential adverse environmental impacts <br />which may arise during the development period; therefore, the city <br />agrees that, except as otherwise required by California Public <br />Resources Code Section 21166, no subsequent or supplemental <br />environmental impact report shall be required by the city for the <br />subsequent discretionary approvals which are a part of the entire <br />Project contemplated by this Development Agreement. <br /> <br />14. Assig~ment. <br /> <br /> Developer (including the owner of any Transferred <br />Property (as defined below)) shall have the right from time to time <br />and on such number of occasions as it may.choose, to sell, assign, <br />or transfer ("Transfer") all of its interest in the Property, or <br />any portion thereof, along with all of its right, title and <br />interest in and to this Development Agreement as applicable to the <br />Property, or the portion thereof which is the subject of the <br />Transfer ("Transferred Property") to any person, firm or corpora- <br />tion ("Transferee") at any time during the term of this Development <br />Agreement without the consent of City. Nothing herein shall be <br />construed to allow the Developer to transfer a portion of the <br />Property is such a manner as to deprive any building or building <br />site of its necessary parking or access rights. Developer's rights <br />and obligations hereunder shall run with the land, and shall be <br />binding upon and inure to the benefit of the Property and each <br />portion thereof, provided that upon a Transfer, Developer and the <br />Transferee shall enter into and record an Assignment and Assumption <br />Agreement, setting forth the executory mitigation measures, <br />exactions and conditions, if any, associated with the Transferred <br />Property ("Transferred Property Exactions and Conditions") and <br />pursuant to which the Developer shall assign, and the Transferee <br />shall assume the Transferred Property Exactions and Conditions. <br />The City shall be furnished with a recorded copy of such Assignment <br />and Assumption Agreement and from and after the effective date of <br />such Assignment and Assumption Agreement, the Developer shall cease <br />to have any liability or responsibility with respect to the <br />Transferred Property Exactions and Conditions. All executory <br />exactions or conditions which are not part of the Transferred <br />Property Exactions and Conditions shall remain with the balance of <br />the Property. <br /> <br />21 <br /> <br /> <br />