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local modification to implement the published recommendations of the multi-state organization and which are applicable City-wide) 2.58 "Utility Release(s)" means the formal approval of the City Building Department, following its inspection, that Residential Unites) may be released for initial connection to the electrical power system, water service system, gas service system, and sanitary sewer system. Utility Release(s) do not include temporary utility service provided to any structure during construction. 2.59 "Work(s) of Public Art" is defined in Section 5.1.7. 3. EXHIBITS. The following documents referred to in the Agreement are attached to this Agreement and are identified as follows: A Description Property Legal Description Referred to in Section( s) Exhibit Designation B C Public Art Plan Cooperative Agreement for Off-Site Improvements Public Improvements A vigation Easement Lake Improvements 1.1.1 (2), 2.44 2.46,5.1.7 2.15,5.1.1 D E F 2.47,5.1.2 2.6,5.1.5 5.1.12 4. GENERAL PROVISIONS. 4.1 Duration of Agreement. The term of this Agreement shall be for ten (10) years; provided, however that the Owner may request one two-year extension from the Executive Director of the Planning and Building Safety Agency, which request shall not be unreasonably denied and provided further that this Agreement shall automatically terminate upon the latter to occur of (i) completion of construction of the entire Project or (ii) the granting of Certificates of Occupancy (or similar permission to occupy) for the final Element of the Project and sale of all Residential units. 4.2 Assignment. Except as provided in Section 4.3 and prior to completion of the Project or any Element thereof, Owner (and/or Integral with respect to the Integral Project, if owner assigns the Integral Project to Integral) shall not have the right to transfer or assign this Agreement with respect to all or any portion of the Property to any person, entity (public or private), partnership, joint venture, firm or corporation unless the written consent of the City is first obtained, acting in its reasonable discretion. In exercising its reasonable discretion, the City shall limit its review to the development experience and financial capability of the proposed assignee or transferee and shall approve any such assignment or transfer if the proposed assignee or transferee has financial capability and development experience with respect to the Project equal to or greater than the managing member of Owner (or Integral in the case of the Integral Project after assignment of the Integral Project). Any transfer or assignment of rights under (i) Section 4.3, or (ii) requiring City Council consent under this Section 4.2 shall include an assignment and assumption agreement confirming that the duties obligations and liabilities arising from this Agreement with respect to all or any portion of the Property shall be assumed by the transferee. To the extent permitted by law, the rights of the Owner hereunder shall not be subject to assignment by attachment, execution, or 7 DOCSOC/l 1 10339vl1/24579-0001