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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 601 Marshall 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 rnore than five feet below grade, subject to the terms and conditions herein.
<br /> 3, Reimbursement for Casts 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 Ninety-Seven
<br /> Thousand Five Hundred and NoI100 Dollars ($97,500.00) to compensate City for potential
<br /> future removal of the Improvements, including anchors.
<br /> 4. Waiver and Release. Owner agrees and acknowiedges 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 the Impmvements or require removal of,the Improvements after the Improvements
<br /> are installed. To the fullest extent provided by law, Owner, for itself, its assigns and successors
<br /> in interest, hereby fully waives, releases and discharges the City of Redwood City, and its
<br /> officers, officials, employees, volunteers, agents, consultants, attorneys, contractors, and
<br /> representatives ("City Parties"), from any and all claims, liens, demands, causes of action,
<br /> acrions, debts, damages and liabilities, including attorneys' fees and costs ("Claims") related to,
<br /> caused by or arising from the damage to, or removal of the Improvements or the presence of the
<br /> Improvements during work within the Right-of-Way performed by City or its contractors. Such
<br /> Claims include without limitation damage to waterproofing or the foundation of any structure on
<br /> the Property. This waiver and release includes all Claims whether at this time known or
<br /> unknown, anticipated or unanticipated, direct or indirect, fixed or contingent. Owner expressly
<br /> waives and relinquishes any and all rights and benefits under Section 1542 of the Civil Code of
<br /> the State of California with respect to this waiver and release. Section 1542 reads as follows:
<br /> REV:05-11-16 VR
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<br /> ATTY/AGR.2016.098/601 Marshall Street Owner, LLC-HHA
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