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RECIPROCAL EASEMENT AND MAINTENANCE AGREEMENT THIS RECIPROCAL EA ~ MAINTENANCE AGREEMENT (this "Agreement") is made as of , 2004, by and between THE CITY OF REDWOOD CITY, a charter city and municipal corporation (the "City"), THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, a public body corporate and politic (the "Agency"), and ON BROADWAY REDWOOD CITY, LLC, a California limited liability company (the "Developer"). The Effective Date of this Agreement shall be the date on which it is approved by both the City Council of the City and the Board of Directors of the Agency (the "Effective Date.") RECITALS A. The parties hereto previously entered into that certain Disposition and Development Agreement for Downtown Retail-Cinema-Office and Parking Project, dated as of January 29,2001, which was superceded and replaced by that certain Amended and Restated Disposition and Development Agreement for Downtown-Retail-Cinema and Parking Project (the "DDA"), which became effective upon the approval thereof by the Board of Directors of the Agency on December 9, 2002. B. The primary purpose of the DDA was to set forth certain rights and obligations as between the parties thereto in connection with the development and construction of a new retail cinema project on a site in the downtown area of the City (the "Project Site") involving the acquisition and clearing of the land, construction of an underground parking garage with space for approximately 590 automobiles (the "Public Parking Facility") and construction of a retail and theater complex above the Public Parking Facility, consisting of approximately 85,000 square feet of retail shop and restaurant space on the ground level and a 20-screen, 4,200-seat movie theater on the second level (the "Retail Cinema"). The development and construction of the Public Parking Facility and the Retail Cinema, together, shall be referred to herein as the "Project." Section 519 of the DDA calls for the parties to enter into a "Maintenance Agreement" regarding the maintenance of the Project. It is agreed that this Agreement will be considered to have partially fulfilled that requirement. The parties agree to enter into additional agreements from time to time to further provide for specific and detailed maintenance obligations as contemplated in the DDA. C. Parcel Map No. 2003-02 has been approved and recorded with respect to the Project, which created a vertical subdivision for the Project and three new parcels. Parcel A, on which the Retail Cinema will be constructed, consists of the air rights above most of Parcel B. The outer boundary of Parcel A abuts the public right of way for pedestrians on all four sides of the Retail Cinema. Parcel B is the underground Public Parking Facility and the land thereunder. It is acknowledged that Parcel B is more or less coextensive with Parcel A which lies above it except that Parcel B exceeds the boundaries of Parcel A in that it, among other differences, extends below a portion of the REDW\0002\007 -9PREF. DOC 6\25\04 1130 law 1 _.., -