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Upon such acquisition of the Owner's right, title and interest hereunder as described in the preceding sentence by either Mortgagee, or the assignee or nominee of Mortgagee, or the purchaser from Mortgagee, assignee or nominee, the City shall immediately execute and deliver a new First Amendment or amend this First Amendment with such party, upon the written request therefor by such party given not later than one hundred twenty (120) days after such party's acquisition of the Owner's right, title and interest hereunder. Subject to the terms of Section 8.4 above, such new or amended agreement shall be substantially the same in form and content to the provisions of this First Amendment, except with respect to the parties thereto, and the elimination of any requirements which have been fulfilled by the Owner prior thereto, and said agreement shall have priority equal to the priority of this First Amendment. Upon execution and delivery of such new or amended agreement, the City shall cooperate with the new owner, at the sole expense of said new owner, in taking such action as maybe necessary to cancel and discharge this First Amendment and to remove Owner named herein from the Sky Lofts Property. 8.6 Releases. The City agrees that upon written request of Property Owner and payment of all fees and performance of the requirements and conditions required of Owner by this First Amendment with respect to the Sky Lofts Property, or any portion thereof, the City shall execute and deliver to Owner appropriate release(s) of further obligations imposed by this First Amendment in form and substance acceptable to the Orange County Recorder or as may otherwise be necessary to effect the release. 9. MISCELLANEOUS PROVISIONS. 9.1 Rules of Construction. The singular includes the plural; the masculine gender includes the feminine; "shall" is mandatory; "may" is permissive. If there is more than one signer of this First Amendment, their obligations are joint and several. 9.2 Entire Agreement, Waivers and Amendments. This First Amendment constitutes the entire understanding and agreement of the parties with respect to the matters set forth in this First Amendment. This First Amendment supersedes all negotiation or previous agreements between the parties respecting this First Amendment, including without limitation the Original Agreement and/or the Amended Agreement. All waivers of the provision of this First Amendment must be in writing and signed by the appropriate authorities of the City or of Owner. All amenchnents to this First Amendment must be in writing signed by the appropriate authorities of the City and Owner, in a form suitable for recording in the Official Records of Orange County, California. Upon the completion of performance of this First Amendment or its revocation or termination, an appropriate Certificate of Completion acknowledging such occurrence signed by the appropriate agents of Owner and the City shall be recorded in the Official Records of Orange County, California. 9.3 Sky Lofts Project as a Private Undertaking. It is specifically understood by the parties that: (a) the Sky Lofts Project is a private development for purposes of Government Code Section 65864 et seq.; (b) the City has no interest in or responsibilities for or duty to third parties concerning any improvements to the Sky Lofts Property or in connection 14 75A-198