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E. City and Owner desire to enter into this Agreement to set forth an exception to
<br /> Special Provision No. 9 of the Encroachment Permit. In addition, City and Owner desire to set
<br /> forth the agreement between the Parties with respect to Owner's obligations regarding the
<br /> Improvements to be abandoned in place, including the portions of Owner's Improvements that
<br /> must be removed, Owner's waiver, release and hold harmless, and the costs of removal.
<br /> AGREEMENT
<br /> NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are
<br /> hereby acknowledged, City and Owner hereby agree as follows:
<br /> 1 . Removal of Improvements. Upon completion of the construction of the building
<br /> located at 550 Allerton Street, and prior to issuance of a Certificate of Completion, Owner shall
<br /> remove all Improvements, including shoring and anchors, installed or placed in the Right-of-
<br /> Way within and above five feet of natural grade.
<br /> 2. Improvements to Remain in Right-of-Way. Notwithstanding Special Provision
<br /> No. 9 of the Encroachment Permit, Owner may abandon in place only those Improvements
<br /> located more than five feet below grade, subject to the terms and conditions herein.
<br /> 3 . Reimbursement for Costs of Future Removal. Owner agrees and acknowledges
<br /> that a portion of the Improvements will remain and be located within the Right-of-Way and that
<br /> City may, from time to time, perform work and maintenance within the Right-of-Way, which
<br /> work or maintenance may require the removal of the remaining Improvements. Prior to issuance
<br /> of the Encroachment Permit, Owner shall pay to the City a lump sum payment of Thirty Eight
<br /> Thousand Two Hundred Fifty Dollars ($38,250) to compensate City for potential future removal
<br /> of the Improvements, including anchors.
<br /> 4. Waiver and Release. Owner agrees and acknowledges that a portion of the
<br /> Improvements will remain and be located within the Right-of-Way and that City may, from time
<br /> to time, perform work and maintenance within the Right-of-Way, which work or maintenance
<br /> may damage buildings and structures located on the Property adjacent to the Improvements. To
<br /> the fullest extent provided by law, Owner, for itself, its assigns and successors in interest, hereby
<br /> fully waives, releases and discharges the City of Redwood City, and its officers, officials,
<br /> employees, volunteers, agents, consultants, attorneys, and representatives ("City Parties"), from
<br /> any and all claims, liens, demands, causes of action, actions, debts, damages and liabilities,
<br /> including attorneys' fees and costs ("Claims") related to, caused by or arising from the removal
<br /> of the Improvements or the presence of the Improvements during work within the Right-of-Way
<br /> performed by City or its contractors. Such Claims include without limitation damage to
<br /> waterproofing or the foundation of any structure on the Property. Except as specifically
<br /> excluded in Section 5 below, this waiver and release includes all Claims whether at this time
<br /> known or unknown, anticipated or unanticipated, direct or indirect, fixed or contingent. Owner
<br /> expressly waives and relinquishes any and all rights and benefits under Section 1542 of the Civil
<br /> Code of the State of California with respect to this waiver and release. Section 1542 reads as
<br /> follows:
<br /> REV: 10-12-15 VR
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<br /> ATTY/AGR.2015.228/Premia 550 Owner, LLC
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