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Property from Property Owner for a term of ninety-nine (99) years.
<br />D. Developer is installing the Improvements as part of, and as necessary with respect
<br />to, the construction of structures on the Developer Property.
<br />E. Developer desires to abandon in place the shoring piles at least five feet below
<br />grade in the City Property but to remove the anchors except for those construction materials
<br />related to initial anchor installation such as grout, and City agrees to such abandonment subject
<br />to the terms and conditions herein.
<br />F. City and Developer desire to set forth the agreement between the Parties with
<br />respect to Developer's obligations regarding the Improvements to be abandoned in place,
<br />including the portions of Developer's Improvements that must be removed, Developer's waiver,
<br />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 Developer hereby agree as follows:
<br />1. Removal of Improvements. Upon completion of the construction of the building
<br />located at 2075 Broadway, and prior to issuance of a Certificate of Completion, Developer shall
<br />remove all Improvements, including shoring piles, installed or placed on the City Property within
<br />and above five feet of natural grade. Anchors shall be removed at all elevations.
<br />2. hnorovements to Remain on Citv Pronertv. Developer may abandon in place
<br />only those Improvements located more than five feet below grade, including construction
<br />materials related to anchor installation, subject to the terms and conditions herein including those
<br />terms and conditions specific to anchors in Section I above.
<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 City
<br />Property and that City may, from time to time, perform work and maintenance within the City
<br />Property, which work or maintenance may require the removal of the remaining Improvements.
<br />Concurrent with the execution of this Agreement, Developer shall pay to the City a lump sum
<br />payment of Twelve Thousand Seven Hundred Fifty and No/100 ($12,750.00) to compensate City
<br />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 City Property and that City may, from time
<br />to time, perform work and maintenance within the City Property, which work or maintenance
<br />may damage buildings and structures located on the Developer 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 as owner of the City
<br />Property, the City of Redwood City, and its officers, officials, employees, volunteers, agents,
<br />consultants, attorneys, and representatives ("City Parties"), from any and all claims, liens,
<br />demands, causes of action, actions, debts, damages and liabilities, including attorneys' fees and
<br />costs ("Claims") related to, caused by or arising from the removal of the Improvements or the
<br />REV: 08-31-17 VR
<br />Page 2 of 30
<br />ATiY/AGR.2017.193.1/Lane - Broadway, LLC - HHA City Property
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