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EASEMENT AGREEMENT This Easement Agreement ("Agreement"), dated ~lb4/~ ¢ ~Tt~, r reference purposes, is entered ~nto by and ,b, etween the CITY OF REDWOOD/2~FFY, a trim,pal corporatmn of the State o California ("Grantor) and STATE FARM MUTUAL AlYrOMOBILE INSURANCE COMPANY, an Illinois corporation ("Grantee"). A. Grantor is the owner of certain real property situated in the City of Redwood City, San Mateo County, California (hereinafter referred to as "Parcel 1"), and more partianlarly described in Exhibit A, which is attached to this Agreement and hereby incorporated by reference. B. Grantee is the owner of eertath real property situated in the City of Redwood City, San Marco County, California (hereinafter referred to as "Pamel 2"), and more partianlarly described in Exhibit B, which is attached to this Agreement and hereby incorporated by reference. C. Grantee desires to acquire certain rights in that part of Parcel 1 which is described as set forth in Exhibit C, which is attached to this Agreement and hereby incorporated by reference (hereinafter referred to as the "Easement Area"). 1. Grant of Easement. Grantor hereby grants to Grantee, pursuant to the terms and conditions set forth in this Agreement, the following: 1.1 An easement for ingress and egress along, over and upon the Easement Area for driveway purposes. For purposes of this Agreement, "driveway purposes" means use for and by moving vehicular and pedestrian traffic for any purpose connected with the use of Parcel 2. These driveway purposes do not include parking. No parking shall be permitted on the Easement Area. 1.2 An easement on, under, over, through and across the Easement Area for bridge purposes and right of way to construct, use, maintain, operate, replace, and repair a bridge (the "Bridge") to be used for driveway purposes. 2. Character of Easement. The easements granted herein in this Agreement are appurtenant to Parcel 2. 3. Covenants Runnina with the Land. All the covenants, agreements, conditions and restrictions set forth in this Agreement are intended to be and shall be construed as covenants running with the land, binding upon, inuring to the benefit of and enforceable by the parties hereto and the subsequent o~vners of their respective parcels of real property or any parts thereof. Page 1 of 4