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C169-169 <br /> <br /> 7. Successors in Interest. <br /> <br /> 7.1 Developer's obligations under this <br /> <br />agreement shall be covenants running with the land for the <br />benefit of the City. This agreement shall be binding upon <br />and inure to the benefit of any and all heirs, assigns, and <br />successors in interest of Developer having an interest in <br />the Property or any parcel thereof. Every person or entity <br />who hereafter acquires any right, title, or interest in the <br />Property or any parcel thereof shall be conclusively deemed <br />to have consented and agreed to every covenant and condition <br /> <br />of this agreement. <br /> <br /> 7.2 Upon the sale, <br />("transfer") of any parcel of the <br />Valley, or both, as the case may be, <br /> <br />released from further obligations under <br />respect to the parcel so transferred. <br /> <br /> 8. Recordation.' This <br /> <br />transfer or conveyance <br />Property by Sente or <br />the transferor shall be <br />this agreement with <br /> <br />agreement shall be <br /> <br />recorded in the office of the County Recorder of Alameda <br />County. Upon satisfaction by Developer or its successors in <br />interest, as the case may be, of Developer's obligations <br />hereunder, the City shall execute in recordable form any <br />instrument required to eliminate this agreement as an excep- <br /> <br />tion to title of the Property. Devel0per's obligations <br />hereunder with respect to the financing of any facilities <br />shall be deemed to' be satisfied upon the formation of all <br />Special Districts which the City has elected to form to <br /> <br />-7- <br /> <br /> <br />