RecDoc 2018-088890 Strada Development Agreement 1548 Maple, LLC

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in the Vesting Tentative Map No. TM2014-12. Subject to the credits described in Section 6.2 below, Developer, at its expense, shall re -grade and improve the Trail Parcel to address sea -level rise and install improvements, including the un -motorized water craft launch, landscaping, pedestrian and bike way extension, and public access and public parking improvements, including those improvements located on the City owned parcel adjacent to the Property, as generally depicted and described in Exhibit G all of which shall be in accordance with construction plans and specifications that have been approved by the City's Parks and Recreation Director or his or her designee in his or her reasonable discretion ("Bay Trail Improvements"). Developer shall dedicate to the public a public access easement upon, over and across the "Trail Parcel" identified on the Vesting Tentative Map ("Trail Easement"). The scope of the Trail Easement shall be consistent with State tidelands public trust use requirements and shall allow, among other uses, recreation and public access to water and requirement for any future marina, water craft ramp or other waterfront improvements within the Trail Parcel to be publicly accessible. To ensure that the construction of the Bay Trail Improvements is coordinated and appropriately phased with the Project, Developer shall commence construction of the Bay Trail Improvements no later than six (6) months after the issuance of the certificate of occupancy for the first residential unit, or such later date as mutually agreed to by the Parties in writing. Developer shall substantially complete the Bay Trail Improvements within eighteen (18) months after commencement of construction. A. Design of Bay Trail Improvements. Approval of Bay Trail Improvements construction plans and specifications by the City's Parks and Recreation Director or his or her designee or other City official shall not be deemed a representation by City that such plans and specifications are in compliance with the requirements of Applicable Law, and it shall be Developer's responsibility to ensure that the Bay Trail Improvements meet and comply with Applicable Law. B. Maintenance of Trail Parcel and Bay Trail Improvements. The Trail Parcel and Bay Trail Improvements (except the Bay Trail Improvements located on City owned property) shall be owned by Developer. Developer shall maintain the Trail Parcel and Bay Trail improvements (including the Bay Trail Improvements located on City owned property) in perpetuity through the Project's Home Owners' Association or, subject to City approval in its sole discretion, a Project Landscape, Lighting and Maintenance District ("LLMD") or Mello -Roos Community Facilities Maintenance District ("CFMD"). Any request by Developer to join an existing or form a new LLMD or CFMD shall be subject to City's approval in its sole discretion. If City approves a LLMD or CFMD, the LLMD or CFMD shall be formed prior to recordation of the Final Map associated with Project. City agrees to process and act upon such application with reasonable due diligence. City also agrees to prepare and execute all documents necessary to transfer financial responsibility for maintenance of the Trail Parcel and Bay Trail Improvements to the Project's LLMD or CFMD, if applicable. All costs incurred in connection with formation of the LLMD or CFMD shall be borne by Developer. If a LLMD or CFMD is formed to undertake maintenance of the Trail Parcel and Bay Trail Improvements, the Home Owner's Association shall be required to maintain the Trail Parcel and Bay Trail Improvements upon any termination or expiration of the CFMD or LLMD. The Home Owner's Association Conditions, Covenants and Restrictions shall include maintenance provisions consistent with this Section, shall specify that 15 OAK #4843-3885-9090 v1 I ATTV/AGR/2018.094/STRADA DEVELOPMENT AGREEMENT REV: 07-27-18 VR Page 15 of 94