Common use of Non-Assignability; Agreement to Run with the Land Clause in Contracts

Non-Assignability; Agreement to Run with the Land. This Agreement shall not be assignable by Developer except upon the express written consent of the City in its sole discretion; provided however, that Developer may fully assign this Agreement to its corporate parent, a corporate affiliate or a subsidiary. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, this Agreement shall be recorded against the property described on Exhibit “A” and shall be deemed to run with the land and shall be binding on and inure to the benefit of the City and all successors and assigns of Developer in the ownership or development of any portion of such property. To avoid any doubt, all future owners of the property described on Exhibit “A” shall be permitted to develop and use the same for the Approved Use as permitted under this Agreement, unless the Approved Use has been terminated as provided in Sections 2.1.4, 2.1.5 or 3.1 of this Agreement.