Laserfiche WebLink
COVENANT <br /> 1 . Covenants to Permit Public Parking. The Downtown Precise Plan provides that <br /> Developer may elect to provide "Shared Parking," ("Shared Parking") as defined in Article 2 of the <br /> Redwood City Zoning Ordinance to serve the Project, which Developer has elected to do. <br /> Developer shall comply with all the terms and conditions in the Downtown Precise Plan and City <br /> Zoning Ordinance applicable to Shared Parking, as may be amended from time to time. At a <br /> minimum, the 148 parking spaces ("Public Parking") shall be made available to the public Monday <br /> through Friday, 5 p.m. to 10 p.m., and from 10 a.m. to 10 p.m. on Saturday, Sunday and holidays, <br /> which shall be deemed any day in which the office of the Secretary of State of California is closed <br /> as a legal holiday (collectively "Public Parking Hours"). Developer may also, at its option make <br /> parking available to the public on weekdays between 8 a.m. and 5 p.m. and on all days between 10 <br /> p.m. and 10 a.m. <br /> 2. Valet Parking: Rates. In order to maximize the number of cars that may be parked <br /> in the parking garage on the Property (the "Parking Garage"), Developer shall provide all parking, <br /> including the Public Parking, by valet during all hours that the Parking Garage is open for <br /> operation. The rates to be charged for parking shall not be less than the parking rates charged by <br /> the City at the Jefferson Garage, but no more than one hundred twenty-five percent (125%) of such <br /> parking rates. Developer retains the right and full discretion to set parking rates at all other times <br /> outside of the Public Parking Hours. <br /> 3. Inconsistencies. To the extent there is any inconsistency in the terms and conditions <br /> for the operation of Shared Parking in the Downtown Precise Plan and City Zoning Ordinance, and <br /> this Parking Covenant, the condition that provides greater public access shall apply. <br /> 4. Term of Covenant. This Parking Covenant shall remain in effect so long as the <br /> improvements developed and constructed by Developer on the Site remain in use. <br /> 5. Control Over Public Parking Area. This Parking Covenant shall not be construed as <br /> granting or conveying an easement or license to the City specifically nor as an express or implied <br /> offer of dedication of any part of the Site to public use, but solely as a contractual undertaking and <br /> covenant by Developer to provide for and permit Public Parking on the terms and conditions <br /> hereof. The Developer at all times shall have full control of and management of the parking <br /> facilities, including the Public Parking. <br /> 6. Default. Failure by Developer to comply with and observe any of the conditions, <br /> terms, or covenants set forth in this Parking Covenant, if such failure remains uncured within <br /> thirty (30) days after written notice of such failure from City in the manner provided herein or, <br /> with respect to a default that cannot be cured within thirty (30) days, if Developer in default fails <br /> to commence such cure within such thirty (30) day period or thereafter fails to diligently and <br /> continuously proceed with such cure to completion. <br /> MISCELLANEOUS TERMS <br /> 7. Entire Agreement. This Parking Covenant contains the entire agreement between <br /> the Parties relating to the rights herein granted in the obligations herein assumed. Any oral <br /> representations or modifications concerning this Parking Covenant shall be of no force and effect. <br /> This Parking Covenant may be amended only by a subsequent document in writing, signed by the <br /> Party to be charged. <br /> REV: 11-02-15 VR <br /> Page 2 of 5 <br /> ATTY/AGR.2015.244/550 Allerton St Shared Parking Covenant <br />