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2017-022478 <br /> 11:26 am 03/15/17 AG Fee: NO FEE <br /> Count of Pages 37 <br /> Recorded in Official Records <br /> RECORDING REQUESTED BY ) County of San Mateo <br /> AND WHEN RECORDED MAIL TO: ) Mark Church <br /> ) Assessor-County Clerk-Recorder <br /> City of Redwood City HI 11 11 <br /> 1017 Middlefield Road ) * R 0 0 0 2 3 6 6 6 9 0 * <br /> Redwood City, California 94063 ) <br /> Attention: City Clerk ) <br /> ) <br /> (Space Above This Line for Recorder's Use Only) <br /> Exempt from recording fee per Gov.Code§27383. <br /> IMPROVEMENT AGREEMENT <br /> W.L.Butler Office Building— 1629 Main St <br /> HIS IMPROVEMENT AGREEMENT ("Agreement") is made and entered into on this B day <br /> of , 2017 ("Effective Date") by and among Butler Realty III, a California limited liability <br /> company ("Developer"), W.L. Butler Construction, Inc., a California corporation ("Contractor"), and the <br /> CITY OF REDWOOD CITY, a charter city and California municipal corporation ("City") with reference <br /> to the following facts. Developer and Contractor are collectively referred to herein as "Butler." <br /> RECITALS <br /> A. Developer is the current fee owner of that certain real property consisting of <br /> approximately 1 acre located within the City of Redwood City, County of San Mateo, State of California <br /> commonly known as 1629 Main Street and 23 Spruce Street, described in Exhibit A, attached hereto and <br /> incorporated herein by reference (the"Property"). <br /> B. On August 16, 2016, the Planning Commission of the City of Redwood City adopted, <br /> among other approvals, Resolution No. 16-11, approving the Vesting Tentative Parcel Map for the W.L. <br /> Butler Office Building ("Project"), prepared by BKF Engineers and dated July 29, 2016 ("Tentative <br /> Map"), subject to certain conditions of approval ("Conditions"). <br /> C. William L. Butler ("Principal") is the principal owner of both the Developer and the <br /> Contractor. Specifically, Principal holds (1) a 100% ownership interest in Developer (either directly or <br /> indirectly) and (2) an 80% ownership interest in Contractor. In addition, once the Project is complete, <br /> Contractor will occupy the office building as the primary tenant. The building will be the world-wide <br /> headquarters of Contractor. <br /> D. The Conditions require either (1) that certain public improvements for the Project be <br /> constructed prior to approval of the parcel map ("Parcel Map"), or (2) that Developer enter into an <br /> agreement with City providing for the future construction of such public improvements. <br /> E. The Developer has hired Contractor to construct the required public improvements on its <br /> behalf. In consideration of Developer's hiring of Contractor, Contractor has agreed to provide the <br /> required insurance and bonds and to be a party to this Agreement. <br /> F. Developer has submitted the Parcel Map and applied to City for Parcel Map approval <br /> without having completed the required public improvements and, therefore, will enter into an agreement <br /> ATTY/AGR/2017.029/1629 MAIN STREET—SUBDIVISION IMPROVEMENT <br /> REV:02-06-17 PR <br /> Page 1 of 27 <br />