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F. City and Developer desire to enter into this Agreement to set forth an exception
<br />to Special Provision No. 9 of the Encroachment Permit. In addition, City and Developer desire
<br />to set forth the agreement between the Parties with respect to Developer's obligations
<br />regarding the Improvements to be abandoned in place, including the portions of Developer's
<br />Improvements that must be removed, Developer's waiver, release and hold harmless, and the
<br />costs of removal.
<br />AGREEMENT
<br />NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which
<br />are hereby acknowledged, City and Developer hereby agree as follows:
<br />1. Removal of Immovements. Upon completion of the construction of the
<br />building located at 2075 Broadway, and prior to issuance of a Certificate of Completion,
<br />Developer shall remove all Improvements, including shoring piles and anchors, installed or
<br />placed in the Right -of -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, Developer may abandon in place only those Improvements
<br />located more than five feet below grade, subject to the terms and conditions herein.
<br />3. Reimbursement for Costs of Future Removal. Developer agrees and
<br />acknowledges that a portion of the Improvements will remain and be located within the Right -
<br />of -Way and that City may, from time to time, perform work and maintenance within the Right -
<br />of -Way, which work or maintenance may require the removal of the remaining Improvements.
<br />Prior to issuance of the Encroachment Permit, Developer shall pay to the City a lump sum
<br />payment of Forty -Five Thousand Seven Hundred Fifty and No/100 Dollars ($45,750.00) to
<br />compensate City for potential future removal of the Improvements, including anchors.
<br />4. Waiver and Release. Developer agrees and acknowledges that a portion of the
<br />Improvements will remain and be located within the Right -of -Way and that City may, from
<br />time to time, perform work and maintenance within the Right -of -Way, which work or
<br />maintenance may damage buildings and structures located on the property adjacent to the
<br />Improvements. To the fullest extent provided by law, Developer, for itself, its assigns and
<br />successors in interest, hereby fully waives, releases and discharges the City of Redwood City,
<br />and its officers, officials, employees, volunteers, agents, consultants, attorneys, and
<br />representatives ("City Parties"), from any and all claims, liens, demands, causes of action,
<br />actions, debts, damages and liabilities, including attorneys' fees and costs ("Claims") related
<br />to, caused by or arising from the removal of the Improvements or the presence of the
<br />Improvements during work within the Right -of -Way performed by City or its contractors.
<br />Such Claims include without limitation damage to waterproofing or the foundation of any
<br />structure on the Property. This waiver and release includes all Claims whether at this time
<br />known or unknown, anticipated or unanticipated, direct or indirect, fixed or contingent.
<br />Developer expressly waives and relinquishes any and all rights and benefits under Section
<br />1542 of the Civil Code of the State of California with respect to this waiver and release.
<br />Section 1542 reads as follows:
<br />REV: 08-31-17 VR
<br />A general release does not extend to claims which the creditor
<br />does not know or suspect to exist in his favor at the time of
<br />executing the release, which if known by him must have
<br />materially affected his settlements with the debtor.
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<br />ATTY/AGR.2017.193/Lane - Broadway, LLC - HHA ROW
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