#2950- Deed; WARRANTY DEED Parcel “A” Beginning At SE Corner Of Lot 166 Then W Along S Line Of Lot 166 For 122’ Then NE To A Point On The North Line Of Lot 166 And 69’ W Of The NE Corner Of Lot 166 (part 1)

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,he rig its and. remedies to which they or any other beneficiary of the covenant may be e: _i zled. SECTION V. P I?I:Tv�iS AGZINST ASSIGN �Eni? AND TRANSFER A. Representations as to Development. The Developer represents and agrees that its purchase of the Property and its other undertakings under this Agreement are and will be used for development of the Property and not for speculation in land holding. The Developer further recognizes that: 1. in view of the importance of the develop;,ient of the Property to the general welfare of the City, 2. the substantial financial and other public assistance that has been made available by law and by the federal and local governments for the purpose of making such development possible, and 3. the fact that a transfer in ownership of the Developer is for practical purposes a transfer or disposition of the Property then owned by the Developer; the qualifications and identity of the Developer and the parties in control of the Developer are of particular concern to the City. The Developer further recognizes that it is due to such qualifications and identity that the City is entering into this Agreement with the Developer, and in so doing is further willing to accept and rely on the obligations of the Developer for the faithful performance of all undertakings and covenants. B. Prohibition Against. Transfer of Interest. The Developer' agrees for itself, its stockholders, and any successor in interest of itself and its stockholders that prior to the completion of the Project or prior written approval, the Developer or any party owning ten percent (10%) or more stock or interest in the Developer shall not transfer or distribute any stock or change the identity of the parties in control of the Developer whether by increased capitalization, merger with another corporation, change in partnership, corporate or other amendments, issuance of additional or new stock or classification Of stock or partnership, or otherwise without first having obtained prior written approval from the City, which approval shall not be unreasonably withheld. The Developer and the parties signing the Agreement on behalf of the Developer represent that they have the authority of all of its existing stockholders or partners to agree to this _provision on their Ilehalf and to bind them with respect to=. C. Prohibition Against Transfer of Property or _Assignment of Agreement. The Developer represents and agrees for itself, its