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Government Code section 66007(c)(2). Upon payment to City of the total amount of the Subject <br />Fees for the Property, City shall, at the request of the Owner, execute and record in the Official <br />Records of the County of Orange, California, a release of the lien from the Property in <br />substantially the form of xhibit ' which is attached hereto and incorporated herein by this <br />reference. At the request of the Owner, the City shall deliver a copy of the executed and <br />recorded release of the lien to Owner. <br />3.5 Covenants Run With Land. Notwithstanding Section 3.6, each and all of the <br />promises, covenants and conditions of this Agreement and all liens against the Property subject <br />to this Agreement shall, as provided in Government Code section 66007, run with the Property <br />and shall be binding upon all parties having or acquiring any right, title or interest in or to the <br />Property or any portion thereof. <br />3.6 Sale of Property. Pursuant to Government Code section 66007(c)(3), Owner <br />shall notify City in writing within two (2) business days of the opening of any escrow for the sale <br />or transfer of all or any portion of the Property. Owner additionally covenants and agrees to <br />provide a written copy of the escrow instructions to City stating that the Subject Fees shall be <br />paid from the sale proceeds of the Property held in escrow prior to disbursement of the sale <br />proceeds to the new owner of the Property. <br />3.7 Invalidity of Lien. The invalidity or unenforceability of any lien provided for <br />under this Agreement shall not affect the contractual obligation of Owner to pay any and all <br />Subject Fees for the Property, nor shall the sale, lease or any encumbrance of the Property <br />release the Owner of this contractual obligation. <br />3.8 Rights Not Granted Under Agreement. This Agreement is not, and shall not be <br />construed to be, an approval or a granting of any right or entitlement (vested or otherwise) by <br />City concerning any development on the Property, or any other project, development or other <br />construction by Owner within the City. This Agreement does not, and shall not be construed to, <br />exempt Owner from paying any fees for any entitlements, permits, licenses or other approvals <br />that may be required by the City or other public entity with jurisdiction over the Property at the <br />time required by the City or other public entity with jurisdiction over the Property, or any other <br />project development or other construction by Owner. This Agreement does not, and shall not be <br />construed to, exempt Owner from any requirement to obtain permits or other discretionary or <br />non -discretionary approvals as may be necessary for the development, maintenance or operation <br />of the development on the Property or any other project, development or other construction by <br />Owner within the City. This Agreement does not, and shall not be construed to, exempt Owner <br />or the Property from the application or exercise of the City's or any of its related agencies' <br />power of eminent domain or its police powers, including, but not limited to, the regulation of <br />land uses, and the taking of any actions necessary to protect the health, safety and welfare. <br />3.9 Cumulative Remedies. The rights or remedies of the City, as provided in this <br />Agreement, or pursuant to any applicable laws, rules or regulations, may be pursued singly, <br />successively, together or otherwise against the Property, Owner or its transferees, at the sole <br />discretion of the City. The City's failure to exercise any such right or remedy shall in no event <br />be construed as a waiver or release of such rights or remedies, or of the right to exercise them at <br />any later time. <br />4 <br />26E 8 <br />