Res 2014-144/Lasalle request for a development agreement

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2.06 Assignment and Binding Effect Upon Successors Owner hereunder, may assign this Agreement, and the rights and obligations of Owner to a subsequent purchaser of all or a portion of the undeveloped property within the Project provided that the assignee assumes all of the obligations hereunder. Any assignment must be in writing, specifically describe the property in question, set forth the assigned rights and obligations and be executed by the proposed assignee. A copy of the assignment document must be delivered to the City and recorded in the real property records as may be required by applicable law. Upon any such assignment, the assignor will be released of any further obligations under this Agreement as to the property sold and obligations assigned. The provisions of this Agreement will be binding upon, and inure to the benefit of the Parties, and their respective successors and assigns. This Agreement will not, however, be binding upon, or create any encumbrance to title as to, any ultimate consumer who purchases a fully developed and improved lot within the Project. 2.07 Cooperation The City and Owner each agree to execute such further documents or instruments as may be necessary to evidence their agreements hereunder. The City acknowledges that the District(s) may in the future seek State or federal grant matching funds to finance certain Public Park, recreational and environmental facilities within the Project. The City may support these efforts to obtain grant funding including entering into joint use agreements with the District, if the City Council determines in its sole discretion that the proposed facilities further the City's goal of making additional park, environmental and recreational facilities available to the area; provided, however, the City will have no financial obligation associated with this activity or the operation and maintenance of such facilities. 2.08 Miscellaneous Force Majeure The term "force majeure" as used herein shall mean and refer to Acts of God, strikes, lockouts, or other industrial disturbances, acts of public enemies, orders of any kind of the government of the United States, the State of Texas or any civil or military authority, insurrections, riots, epidemics, landslides, lightning, earthquake, fire, hurricanes, storms, floods, washouts, droughts, arrests, restraint of government and people, devil disturbances, explosions, breakage or accidents to machinery, pipelines, or canals, or other causes not reasonably within the control of the party claiming such inability. If, by reason of force majeure, any party hereto shall be rendered wholly or partially unable to carry out its obligations under this Agreement, then such party shall give 11