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7.2.A. - Page 3 <br /> 2013-028631 Cull <br /> 3:35 pm 02121/13 AG Fee: NO FEE <br /> Count of pages 21 <br /> RECORDING REQUESTED BY ) Recorded in Official Records <br /> AND WHEN RECORDED MAIL TO: ) County of San Mateo <br /> ) Mark Church <br /> City of Redwood City ) Assessor-County Clerk-Recorder <br /> 1017 Middlefield Road ) 1111111111 111111111111 <br /> Redwood City, California 94063 ) * R o 0 0 1 6 0 4 4 4 0 * <br /> Attention: City Clerk ) <br /> ) <br /> (Space Above This Line for Recorder's Use Only) <br /> Exempt from recording fee per Gov.Code§27383. <br /> IMPROVEMENT AGREEMENT <br /> 640 Veterans Boulevard <br /> THIS IMPROVEMENT AGREEMENT("Agreement")is made and entered into on this_day of_ <br /> b'(U , 2013 ("Effective Date") by and between BRE Properties Inc, a Maryland <br /> Corporati�("Developer"), and the CITY OF REDWOOD CITY, a charter city and California <br /> municipal corporation ("City")with reference to the following facts: <br /> RECITALS <br /> A. Developer is the current fee owner of that certain real property consisting of <br /> approximately 3.62 acres located within the City of Redwood City, County of San Mateo, State of <br /> California,described in Exhibit A, attached hereto and incorporated herein by reference(the"Property"). <br /> B. The Downtown Precise Plan requires that Developer construct and install certain public <br /> improvements, as more specifically identified below. <br /> C. Developer has submitted to City plans, specifications and drawings entitled 640 Veterans <br /> Boulevard Improvement Plans, prepared by BKF Engineers/Surveyors/Planners and dated November 2, <br /> 2012 (the "Improvement Plans"), which, in addition to other improvements, provide for certain on-site <br /> public improvements consisting of street and street light improvements, storm drain systems, domestic <br /> water systems and sanitary sewer systems for the Project(collectively,"Improvements"). <br /> D. City and Developer desire to enter an agreement providing for the construction and <br /> installation of the Improvements in accordance with the Improvement Plans. <br /> AGREEMENT <br /> NOW, THEREFORE, in consideration of the faithful performance of the terms and conditions set <br /> forth in this Agreement,the parties hereto agree as follows: <br /> 1. Purpose. The purpose of this Agreement is to guarantee completion of the Improvements <br /> and ensure satisfactory performance by Developer of Developer's obligations to satisfy the conditions <br /> pertaining to the Improvements. <br /> 2. Property Subject to Agreement. The Property shall be subject to this Agreement. <br /> 3. Duty to Install Improvements. Developer will construct, install and complete,or cause to <br /> be constructed, installed and completed, at the Developer's sole cost and expense, the Improvements, in <br /> ATTYIAGRI2013.005/640 VETERANS IMPROVEMENT AGREEMENT <br /> REV:01-09-13 VR <br /> Page 1 of 18 <br />