RecDoc 2016-131463 - 406 Stambaugh - Xu and Shang

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Recording Requested By And When Recorded Mail To: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attn: City Clerk (Space Above Provided For Recorder) Exempt from Recording Fees under Govt. Code Section 27383 CONTRACT BETWEEN REDWOOD CITY AND YUCHUN XU AND SHANG SONG FOR HISTORIC PROPERTY PRESERVATION OF 406 STAMBAUGH STREET (APN 053-14-010) THIS CONTRACT, is made and entered into this day of ( ;-2016, by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California, hereinafter called ("City"), and Yuchun Xu and Shang Song, hereinafter called ("Owner'). All references to "Owner' in this contract apply to both owners collectively and to each owner in his or her individual capacity. WITNESSETH: WHEREAS, California Government Code Sections 50280, et. seg. authorize cities to enter into contracts with the owners of qualified historic property to provide for the use, maintenance and restoration of such historic property so as to retain its historical significance; WHEREAS, Owner possesses fee title in and to that certain real property, together with associated structures and improvements thereon, located at 406 Stambaugh Street, Redwood City, California 94063 (the "Historic Property") (a legal description of the Historic Property is attached hereto as Exhibit A); WHEREAS, on 20 , ZOI(0 , the City Council of the City of Redwood City declared and designated the Historic Property as a historic landmark pursuant to the terms and provisions of Chapter 40 of the Redwood City Code; and WHEREAS, City and Owner, for their mutual benefit, now desire to enter into this Contract both to protect and preserve the characteristics of historical significance of the Historic Property and to qualify the Historic Property for an assessment of valuation pursuant to the REV: 08-30-16 JS Page 1 of 15 ATTY/AGR.2016.246/Redwood City - 406 Stambaugh Street - Mills Act Contract