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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> Nor shal3 The rights of the Owner hereunder shall not be subject to assignment by attachment, <br /> execution, or proceedings under any provision of the Bankruptcy Act, and any such assignment <br /> or transfer shall be wholly void and of no force and effect unless such written consent thereto be <br /> obtained from the Council. Such transfer or assignment shall not relieve Owner of any duty, <br /> obligation or liability to City without the consent of the City. <br /> During the term of this Agreement, any approved assignee or transferee of the <br /> rights under this Agreement shall observe and perform all of the duties and obligations of Owner <br /> contained in this Agreement as such duties and obligations pertain to the portion of the Property <br /> transferred or assigned. Any and all approved successors and assignees of Owner shall have all <br /> of the same rights, benefits, duties, obligations, and liabilities of Owner under this Agreement. If <br /> the Property is subdivided, any subdivided parcel may be sold, mortgaged, hypothecated, <br /> assigned, or transferred to persons for development by them in accordance with the provisions of <br /> this Agreement. Upon assignment or transfer of the rights of Owner under this Agreement, the <br /> obligations of Owner and the transferee or assignee shall be joint and several. <br /> 43.1 Permitted Assignments. The prohibition against transfer of ownership of <br /> the Property as defined in section 4.3 above shall not apply to, and the City hereby consents to, <br /> the following: <br /> <br /> a. Associations, including limited partnerships, limited liability <br /> companies, or joint ventures with other entities for the purpose of performing Owner's <br /> obligations under this Agreement, provided Owner retains sole operational and managerial <br /> control. <br /> b. Easements or temporary permits to facilitate development of the <br /> Property. <br /> <br /> C. Deeds of trust or other financing documents executed for the <br /> purpose of securing loans to Owner made to finance the development of the Property, and <br /> transfers to any person or entity pursuant to a foreclosure or deed in lieu of foreclosure of such <br /> deed of trust or other, similar, financing documents and any subsequent transfer by any such <br /> person or entity. <br /> <br /> 4.4 Amendment or Cancellation of Agreement. This Agreement may be <br /> amended from time to tithe or cancelled by the mutual consent of the parties, but only in the <br /> same manner as its adoption by an ordinance as set forth in Government Code Section 65868. <br /> The term "Agreement" or "Development Agreement" as used herein shall include any <br /> amendment properly approved *and executed. <br /> 4.5 Enforcement. Notwithstanding Government Code Section 65865.4, this <br /> Agreement is enforceable by any party to the Agreement in any manner provided by law. The <br /> tamecties-previded4nSeetis t4nrAude,-nd City shall not be liable <br /> for, any action in damages or any costs or attorney's fees resulting from any dispute, controversy, <br /> action or inaction, or any legal proceeding arising out of this Agreement except as mayJbe <br /> provided iii Seefien (5) of No Agmer t. <br /> <br /> <br /> <br /> 5 <br /> 75A-70 <br />