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have an additional 25 units in 2003, and Developer could also <br />move the remaining 50 units into 2003, as there would be room <br />to do so if Developer so desired. By way of another example, <br />if Developer elected to repay the ~5 units it had utilized from <br />its affordable housing allocation, Developer could move its <br />remaining 50 units into 2003 (as there would be room in that <br />year to do so). <br /> <br />3. SUCCESSORS ZN ;NTEREST <br /> <br />Developer shall have the right to assign, sell or transfer <br />(collectively referred to as an "Assignment") by any means all <br />or any part of its interest in this Agreement and the <br />allocations, or portions thereof, and other rights granted <br />hereunder. An Assignment shall not require City approval. In <br />the event of an Assignment, Developer shall be released from <br />any and all obligations as to that portion of the interest(s) <br />hereunder which is assigned, and the entity to which the <br />Assignment is made ("Assignee") shall have all the rights and <br />be subject to all of the obligations under this Agreement to <br />the extent applicable to the interest so assigned. At the <br />request of Developer, in the event of an Assignment of some but <br />not all of Developer's interest in unit allocations under this <br />Agreement to an Assignee, City shall execute a new or separate <br />growth management agreement with such Assignee,in substantial <br />conformance with this Agreement, to establish the rights and <br />obligations of City and the Assignee with respect to the <br />interest(s) conveyed to Assignee. <br /> <br />This Agreement shall run with the land and be binding upon any <br />and all assigns and successors in interest of Developer who <br />have an interest in the Subject Property. <br /> <br />4. TERMINATION AND A~REEMENT EFFECTIVENESS <br /> <br /> Developer shall be entitled to terminate this Agreement by <br />giving written notice of such termination to the City. Unless <br />this Agreement is terminated by Developer in writing, or unless <br />the Bernal Property Preannexation Development Agreement to be <br />entered into between Developer and City (as authorized by <br />Ordinance No. , adopted by the City Council on ~ <br />2000) has been terminated pursuant to the terms of that <br />Development Agreement, the growth management allocation granted <br />under this Agreement and all terms of this Agreement shall <br />continue to be in full force and effect irrespective of whether <br />annexation of portions of the Subject Property as contemplated <br /> <br /> -6- <br />8/4/00 <br /> <br /> <br />