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D_ _ Offsite Improvements 51.8 <br />4. GENERAL PROVISIONS, <br />4.1 Term of First Amended and Restated Development Agreement (the <br />`Term "). The ten -year term of the Original Agreement started on the <br />Effective Date of May 2, 2007, and would have ended on May 2, 2017, <br />This First Amended and Restated Development Agreement shall extend <br />the end of the Term to ten years after the effective date of the ordinance <br />approving this First Amended and Restated Development Agreement. <br />4.2 Assignment. Owner shall have the right to transfer or assign the <br />Property, in whole or in part, to any person, entity (public or private), <br />partnership, joint venture, firm or corporation at any time during the term of <br />this First Amended and Restated Development Agreement; provided, <br />however, the rights of Owner under this First Amended and Restated <br />Development Agreement may not be transferred or assigned unless the <br />written consent of the Council is first obtained and any transfer or <br />assignment of the rights under this First Amended and Restated <br />Development Agreement shall Include in writing the assumption of the <br />duties, obligations, and liabilities arising from this First Amended and <br />Restated Development Agreement if the City grants written consent to <br />transfer the rights. Nor shall the rights of the Owner hereunder be subject <br />to assignment by attachment, execution, or proceedings under any <br />provision of the Bankruptcy Act, and any such assignment or transfer of <br />the rights under this First Amended and Restated Development <br />Agreement shall be wholly void and of no force and effect unless such <br />written consent thereto be obtained from the Council, A transfer or <br />assignment of the rights under this First Amended and Restated <br />Development Agreement without the consent of the City shall not relieve <br />Owner of any accrued duty, obligation or liability to City. No consent shall <br />be required for sale of units to condominium unit buyers, <br />During the term of this First Amended and Restated Development <br />Agreement, any approved assignee or transferee of the rights under this <br />First Amended and Restated Development Agreement shall observe and <br />perform all of the duties and obligations of Owner contained In this First <br />Amended and Restated Development Agreement as such duties and <br />obligations pertain to the portion of the Property transferred or assigned. <br />Any and all approved successors and assignees of Owner shall have all of <br />the same rights, benefits, duties, obligations, and liabilities of Owner under <br />this First Amended and Restated Development Agreement. If the <br />Property Is subdivided, any subdivided parcel may be sold, <br />067619 \5448832v5 <br />