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<br />regulatory agencies having permitting jurisdiction over the Property, including but not limited to <br />the U. S. Army Corps of Engineers, the CDFG and the RWQCB (collectively "Other Regulatory <br />Agencies"), or (b) is required to reconfigure or otherwise modify the development proposed on <br />the Property due to taking of any portion of the Project by agencies with eminent domain <br />powers, including but not limited to lone 7, or (c) determines, after consultation with and <br />agreement by the City, that modification of the Project is necessary in order to secure required <br />approvals from Other Regulatory Agencies, the Parties agree to cooperate in good faith to amend <br />or modify the Project Approvals and this Agreement, if amendment or modification is deemed <br />by the City and agreed by Property Owner to be required, to ensure that each Party hereto <br />maintains the benefit of the bargain notwithstanding such amendment or modification. Any such <br />amendment or modification shall be limited to an amendment or rnodification necessary to <br />effectuate the requirements or determinations of the Other Regulatory Agency, or any element <br />thereof, or to address concerns raised by Other Regulatory Agencies which Property Owner and <br />City agree may result in denial of Property Owner's permit application(s). In such event, any <br />time periods imposed under the Project Approvals for completion of an act, which is delayed or <br />precluded as a result of such Other Regulatory Agency's requirements or determinations, or as <br />otherwise agreed to be necessary by Property Owner and City, shall be extended for such period <br />of time for the amendment or modification to be processed. City agrees to promptly process and <br />take action on any such requested amendment or modification, and agrees that it shall process <br />such amendment or modification as an administrative or ministerial action to the extent <br />permitted by law. <br /> <br />ARTICLE 8. <br /> <br />TRANSFERS AND ASSIGNMENTS <br /> <br />8.1 Ril!ht to Assil!n, If Property Owner assigns, sells or transfers by any means all or <br />any portion of the Property or any interest therein (the "Transferred Property Interest") to any <br />person or entity ("Transferee"), Property Owner may assign, sell, or otherwise transfer <br />("Transfer") to Transferee all or any portion of its interests, rights, or obligations under this <br />Agreement together with the Transferred Property Interest, The Transfer of interests, rights, or <br />obligations under this Agreement or the other Project Approvals shall not require City approval. <br /> <br />8.2 Performance of Oblil!ations Uoon Assil!nment. It is the intent of the Parties that <br />all applicable requirernents of the Existing Standards and the Project Approvals shall be met as <br />the Property is developed, If Property Owner Transfers all or any portion of the Property or any <br />interest therein to a Transferee, Property Owner shall continue to be responsible for performing <br />the obligations under this Agreement and the other Project Approvals as to the Transferred <br />Property Interest until such time as there is delivered to City a legally binding instrument <br />whereby Transferee agrees to perform the obligations of this Agreement and the other Project <br />Approvals described in the Assignment to be assumed by Transferee (the "Specified <br />Obligations"), <br /> <br />8,3 Release Uoon Transfer. <br /> <br />(a) Upon the Transfer by Property Owner of all or a portion of the Property or <br />any interest therein, including Property Owner's rights and interests under this Agreement and <br /> <br />356901849375v14 <br /> <br />- 29- <br /> <br />08125100 <br />