Laserfiche WebLink
5. Bonded Debt. Owners consent that, upon annexation of the Property to City, the <br />Property shall be taxed to pay its share of existing bonded indebtedness of City. This Agreement <br />shall serve as such consent, and a copy shall be filed with Treasurer-Tax Collector of Alameda <br />County, if evidence of such consent is required; provided, however, that the Property will be <br />excluded from the City bonded debt existing on the effective date of this Agreement and from and <br />after the annexation of the Property to City for all utility facilities to which the Property is not <br />connected. <br /> <br />6. Benefit or Assessment Districts. Owners shall cooperate with City in the formation of any <br />mutual benefit districts or assessment districts which City deems necessary for the installation of <br />public improvements serving, in whole or in pan, the Property, whether such districts are formed <br />at the time of annexation or some time in the future. In this regard, Owners waive the right to <br />protest the formation of any of said districts and shall do no act calculated or tending to prevent, <br />impede, or defeat the successful formation thereof~ provided, however, that this waiver is not <br />intended, nor shall it be construed, to affect or limit the rights of the Owners to participate in the <br />hearings and/or other aspects of the district formation proceedings to the extent necessary and <br />appropriate to protect and further the Owners' interest or the public interests so long as said <br />action does not tend to prevent or defeat the formation of the districts. Nothing in this paragraph <br />is intended (a) to prohibit the Owners from being credited with the cost of improvements that the <br />Owners install if those improvements benefit property other than the Property, nor (b) to prevent <br />the Owners from being reimbursed for improvements that benefit other property. <br /> <br />7. Successors and Assigns. -This Agreement shall expressly run with the land and shall apply <br />to, bind, and inure to the benefit of successors in interest of the Owners with respect to the legal <br />title to the land described in Exhibit A. <br /> <br />8. Recording. The execution of this Agreement shall be acknowledged before a Notary <br />Public, and the Agreement shall be recorded with the Recorder of Alameda County. <br /> <br /> (Agre~m~ntsXFab~r.~m) <br /> 3 <br /> <br /> <br />