SECURITY CAPITAL PACIFIC TRUST PARKING SPACE MAINTENANCE

i. t 3. Failure to Perform Obli ations. If, in the reasonable judgment of the City Engineer, Property Owner has failed to properly maintain the parking spaces as required by this Agreement, the City may perform such maintenance, at its option, after thirty (30) days' prior written notice to Property Owner of such failure to maintain, which notice shall be sent by certified mail, return receipt requested, to: Property Manager Security Capital Pacific Trust 5650 Owens Drive Pleasanton, CA 94588 or to such other address as Property Owner may notify the City in writing. Notices required hereunder shall be deemed effective upon receipt. In such event, the City's performance of such maintenance shall be at Property Owner's expense and Property Owners, upon demand by the City, shall pay to the City all reasonable expenses incurred by the City in the performance of such maintenance. The City's remedy provided in this paragraph shall be in addition to any other rights and remedies the City may have at law or in equity. If any maintenance or repair of the parking space area needs immediate correction as a result of a public safety or health hazard, as reasonably determined by the City Engineer, Property Owner shall barricade the area that needs immediate correction and shall begin repairs within three business days and diligently prosecute the repairs to completion. If such barricade is not placed within twenty-four (24) hours of receipt of such notice thereof, which notice may be sent by facsimile, and/or if the repairs are not performed, or cannot be performed, by Property Owner as provided herein, the City may perform or cause to be performed such maintenance at Property Owner's expense, and Property Owner, upon demand by the City, shall pay to the City all reasonable expenses incurred by the City in the performance of such maintenance. 4. Duration. This Agreement shall be a covenant which is to run with the land for the duration that the park site is in existence and shall be binding upon the transferees, successors, and assigns of the Property Owner. In lieu of recording this Agreement, if Property Owner should sell or transfer the Subject Pr©perty, it shall expressly inform the purchaser/transferee in writing, with a copy to the City, of this Agreement. Should Property Owner fail to do so, the obligations of this Agreement will be personal to the Property Owner notwithstanding its transfer of the Subject Property. jAGREEMENIIPARKSPC.SAM) 2