AgdaPkt 2018-07-23 Joint SA PFA - Laserfiche WebLink

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6.2.A. - Page 14 38. Runs with the Land; Recordation. This Agreement pertains to and shall run with the Property. Upon execution, this Agreement shall be recorded in the Oficial Records of San Mateo County. Upon completion of performance and satisfaction by Developer of its obligations under this Agreement, including warranty obligations, a written statement shall be recorded by City in the Official Records of San Mateo County terminating this Agreement and releasing all of the Property. The recorded written statement does not release the parties from obligations that survive termination of the Agreement, including indernnification. 39. Develover Contribution for Bulb -Out Work. In full compliance with Condition No. 38 of the Conditions of Approval, Owner shall deposit with City the sum of One Hundred Forty -Eight Thousand Nine Hundred Fifty -One and No/100 Dollars ($148,951.00) prior to building permit issuance and design drawings for the bulb -out improvements in a form acceptable to the City Engineer prior to issuance of any Certificate of Occupancy. As of the Effective Date, Developer has begun but has not completed the design of the bulb -out improvements. Prior to the City's issuance of any Certificate of Occupancy, whether temporary or final, Developer shall cooperate with the City to make such changes and clarifications to the bulb -out design as reasonably required by the City for its use in the bidding and construction of the bulb - out improvements. Other than payment of standard building permit fees and the aforementioned obligation related to the bulb -out design, in no event shall Developer have any further obligations related to the construction of the bulb -out improvements. IN WITNESS WHEREOF, City and Developer have executed this Agreement as of the Effective Date. DEVELOPER 601 MARSHALL STREET OWNER, LLC, a Delaware limited liability company [Signature must be notarized] CITY CITY OF REDWOOD CITY, a chatter city and uuieipal cbMoration ( Z_ .; ✓ .. iMelissa 'Stevenson Diaz, City Mana er b,� h U� to 1 C,,r, 'VL C, c t ri (Signature must be notarized] ATTEST: /,0eZXAC4 Tu wi .._------REV: 06-21-16 Page 12 of19 ATTY/AGR.2016.126/601 Marshall Street Owner, LLC - lA 2016-06-09