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CITY COUNCIL DRAFT
<br /> 7.2 Covenants Run with the Land. The Property shall be used, occupied and
<br /> improved subject to the covenants, conditions, and restrictions set forth herein in accordance with
<br /> the terms of Section 5.1 hereof. The covenants, conditions, restrictions, reservations, equitable
<br /> servitudes, liens and charges set forth in this Agreement shall run with the Property in accordance
<br /> with the terms of Section 5.1 hereof and shall be binding upon Developer and all persons having
<br /> any right, title or interest in the Property, or any part thereof, their heirs, and successive owners
<br /> and assigns, shall inure to the benefit of City and its successors and assigns, and may be enforced
<br /> by City and its successors and assigns. The covenants established in this Agreement shall,without
<br /> regard to technical classification and designation, be binding for the benefit and in favor of City
<br /> and its successors and assigns, and the parties hereto expressly agree that this Agreement and the
<br /> covenants herein shall run in favor of City. City is deemed the beneficiary of the terms and
<br /> provisions of this Agreement and of the covenants running with the land, for and in its own right
<br /> and for the purposes of protecting the interests of the community and other parties, public or
<br /> private, in whose favor and for whose benefit this Agreement and the covenants running with the
<br /> land have been provided. Developer hereby declares its understanding and intent that the burden
<br /> of the covenants set forth herein touch and concern the land and that the Developer's interest in the
<br /> Property is rendered less valuable thereby. Developer hereby further declares its understanding
<br /> and intent that the agreement provides a public benefit in furtherance of benefit of such covenants
<br /> touch and concern the land by enhancing and increasing the enjoyment and use of the Property by
<br /> the citizens of City and by furthering the health, safety, and welfare of the residents of City.
<br /> 8. MISCELLANEOUS
<br /> 8.1 Entire Agreement. This Agreement and all of its exhibits and attachments set
<br /> forth and contain the entire understanding and agreement of the parties with respect to the density
<br /> bonus of the Project, and there are no oral or written representations, understandings or ancillary
<br /> covenants, undertakings or agreements which are not contained or expressly referred to herein.
<br /> No testimony or evidence of any such representations, understandings or covenants shall be
<br /> admissible in any proceeding of any kind or nature to interpret or determine the terms or conditions
<br /> of this Agreement.
<br /> 8.2 Amendment. Any alteration, change or modification of or to this Agreement, in
<br /> order to become effective, shall be made in writing and in each instance approved by the City
<br /> Council, or through the City Manager as detailed herein, and signed on behalf of each party. The
<br /> City Manager shall have the authority to make approvals,issue interpretations, execute documents,
<br /> waive provisions, and/or enter into amendments of this Agreement on behalf of City that further
<br /> the intent of this Agreement. Any requested alteration, change or modification of the Agreement
<br /> by Developer shall require the payment of fees or deposit by Developer to City, as applicable, for
<br /> the City's review of the request. Each alteration, change, or modification to this Agreement shall
<br /> be recorded against the Property in the Official Records of Orange County, California.
<br /> 8.3 Notices.
<br /> 8.3.1 Delivery. As used in this Agreement, "notice" includes, but is not limited
<br /> to, the communication of notice, request, demand, approval, statement, report, acceptance,
<br /> consent,waiver, appointment or other communication required or permitted hereunder. All notices
<br /> shall be in writing and shall be considered given either: (i) when delivered in person to the
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<br /> Resolution No. 2025-013
<br /> Page 27 of 87
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