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AMENDMENT NO. 2 TO REIMBURSEMENT AGREEMENT GREYSTAR GP II, LLC 15 THIS AMENDMENT ("Amendment") is dated for informational purposes only as of the day of January, 2021 by and between the CITY OF REDWOOD CITY, a charter city and California municipal corporation ("City"), and Greystar GP II, LLC, a California limited liability company] ("Developer") (referred to herein individually as "Party," or collectively, the "Parties"). RECITALS A. The Developer submitted an application for a proposed mixed-use development project located between El Camino Real, Maple, Cedar and Main streets and an offsite affordable housing development at 1304 El Camino Real (at Jackson Avenue) that will include 530,000 sq. ft. of office, 540 residential units (including 147 affordable units), 28,000 sq. ft. of retail, 8,400 sq. ft. of child care and 40,000 sq. ft. of publicly -accessible open space, and related improvements (the "Project"); and B. The Project includes the requested abandonment of a segment of Shasta Street and acquisition of a remnant parcel abutting Shasta Street at the corner of Chestnut and Main Streets as identified in on the Vesting Tentative Map ("Shasta Triangle"); and C. By Resolution No. 15908, adopted on November 16, 2020, the City approved the Project, subject to conditions of approval ("Project Approval"), including Condition No. 31, which requires that Developer secure title interest in the Shasta Triangle prior to approval of the Final Map; and D. Developer has requested that the City file the legal action necessary to secure such title interest ("Action"); and E. Developer acknowledges and understands that Developer shall be required to fund any City costs associated with the Action and any other action taken in an attempt to secure title interest in the Shasta Triangle in furtherance of development of the Project; and F. The Parties previously entered into that certain Reimbursement Agreement, dated as of November 30, 2017 (the "Original Agreement"), and an Amendment No. 1 to Reimbursement Agreement dated as of November 13, 2020 ("Amendment No. I"; the Original Agreement and Amendment No. 1 are hereinafter referred to as the "Agreement"); and G. The Parties now seek to amend the Agreement so that all costs and expenses incurred in connection with the Action and any other actions taken in an attempt to secure title interest in the Shasta Triangle, including but not limited to compensation for all City staff costs, court costs, consultant costs and attorney fees, shall be paid using funds deposited in advance with City by Developer for such purpose and that City shall not be required to advance City funds or incur any liability to cover such costs and expenses; and ATTY/AGR/AMENDMENT NO. 2 GREYSTAR GP II, LLC— REIMBURSEMENT AGREEMENT REV: 01-11-2021 VR Page 1 of 2