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of this :Agreement and the other Project Approvals which are not obligations imposed on T~msfe~ee and those conditions which have been satisfied. 8.5 ~f,_~[.~l~. The~i3~0vtsi0~ 6f this Article 8 shall not be deemed to .prohibit 'or otherwise restrict (i) the granting by Properff Owner of easements, licenses or p~mits to facilitate development, (ii) the grant of a Mortgage or leasehold interest in the Pi, open'y, or (iii) the sale or transfer pursuant to foreclosure, conveyance in lieu of foreclosure or other remedial action in connection with a Mortgage. ARTICLE 9. COVENANTS RUN WITH THE LAND 9.1 Covenants Run with the Land. All of the provisions, agreements, fights, powers, standard~, terms, covenants, and obligations contained in this Agreement and the other recorded Project Approvals shall be binding upon the parties and their respective heirs, successors (by merger, consolidation, or otherwise) and assigns, devises, administrators, representatives, lessees, and all of the persons or entities acquiring the Property or any portion thereof, or any interest therein, whether by operation of law or in any manner whatsoever, and shall inure to the benefit of the parties and their respective heirs, successors (by merger, consolidation or otherwise), and assigns. Subject to the t~ansfer of rights set forth in Article 8 above, all of the provisions of this Agreement and the other recorded Project Approvals shall be enforceable as equitable servitudes and constitute covenants and benefits running with the land pursuant to applicable law, including but not limited to, Section 1468 of the Civil Code' of the State of California; provided, however, with regard to any transfen~d rights and obligations those rights and obligations shall nm with the transferred real property, if any, not the entirety of the property. Each covenant to do or refrain from doing some act hereunder, (i) is for the benefit of such properties and is a burden upon such property, (ii) runs with such properties, (iii) is binding upon each party and each successive owner during its ownership of such properties or any portion thereof, and each person or entity having any interest therein derived in any manner through any owner of such properties, or any portion thereof, and shall benefit each property hereunder, and each other person or entity succeeding to an interest in such properties, and (iv) is binding on City or its successors. 9.2 Priority of Development A~,reement Property Owner hereby warrants that there is no prior lien or encumbrance against the Property which, upon foreclosure, would be free and clear of the obligations set forth in this Agreement. [Still under discussion.] 9.3 ~Provisions. The provisions of this Agreement shall survive the dedication and conveyance of the Public Parcel and the delivery of any deed by Property Owner in connection therewith and shall not be merged as a result of such dedication and deed delivery. ARTICLE 10. MORTGAOE PROTECTION: CERTAIN RIGHTS OF CURE 35690/849375v5 = 26 -