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<br />, <br />SATV hereby covenants and warrants for itself and its successors and assigns, that, except <br />as otherwise provided for herein, conveyance of any interest in the SATV Property to the <br />Association shall constitute an assumption by any successors, assigns or transferees of <br />SATV, of the obligations under this Agreement. Upon recording the Declaration for SATV <br />Property, the Association shall have all rights and obligations of SA TV set forth in this <br />Agreement, and SATV shall thereafter have no further rights, liabilities or obligations under <br />the Agreement and shall be released from all such liability hereunder. <br /> <br />8. Successors and Assions. This Agreement shall run with the land and <br />shall be binding upon and shall inure to the benefit of the heirs, executors, administrators, <br />successors and assigns of SATV and the City. The covenants, conditions and restrictions set <br />forth in this Agreement shall constitute equitable servitudes which shall run with the land. <br /> <br />9. Affected and Benefited Land. The land ("Affected Land") affected by <br />the covenants contained in this Agreement is the SATV Property and the ROW. The land <br />("Benefited Land") benefited by the covenants contained in this Agreement is the SATV <br />Property and the ROW. <br /> <br />10. Notices. Unless otherwise provided in this Agreement, all notices, <br />demands, or other communications given pursuant to the terms of this Agreement shall be in <br />writing and shall be deemed to have been given upon personal delivery or as of the second <br />business day after mailing in the United States registered or certified mail, return receipt <br />requested, postage prepaid, addressed as follows or to such other address or to such other <br />erson as either art ma desi nate: <br /> <br />If to SATV: <br /> <br />If to Association: <br /> <br />Santa Ana Transit Village LLC, <br />25 Enterprise, Suite 250 <br />Aliso Viejo, CA 92656 <br />Attention: Trudie Wilson <br /> <br />Keystone Pacific Property Management <br />16845 Von Karmon, Suite 200 <br />Irvine, CA 92606 <br />Attention: Santiago Street Lofts Maintenance <br />Cor oration <br /> <br />If to City: <br /> <br />City of Santa Ana <br />Planning Division- Planning Manager <br />Public Works - City Engineer <br />20 Civic Center Plaza <br />P.O. Box 1988 <br />Santa Ana, CA 92702 <br /> <br />11. Lender Protection. Nothing in this Agreement shall be construed as <br />giving any party priority over the rights of beneficiaries of first deeds of trust encumbering any <br />portion of the SA TV Property. No breach of this Agreement shall invalidate the lien of any <br />first deed of trust encumbering the SATV Property. <br /> <br />F:\REAL\622\16369101\Grant Esmt & Main. City rv6.doc <br />512612005 <br />