RecDoc 2018-088890 Strada Development Agreement 1548 Maple, LLC

Browse Search

City is a third party beneficiary of the maintenance obligations with an independent right of enforcement and shall in all respects be in a form reasonably acceptable to the City. Section 3.3 Blomquist and Maple Street Extension/Reconfiguration and Land Exchange. Subject to City Council's approval of the proposed Maple Street vacation action and the terms of Section 3.3C below, and subject to the credits described in Section 6.2 below, Developer, at its expense, shall (i) reconfigure and reconstruct Maple Street to conform to the new street layout envisioned by the proposed Maple Street vacation action as generally depicted on Exhibit C and more particularly provided in the plans and specifications dated March 21, 2018, included with Developer's PD Submittal -05 application; and (ii) construct the three separate segments of the Blomquist Street Extension, comprised of the Blomquist — Developer Segment, the Blomquist — County Segment and the Blomquist — City Segment, all as generally shown on Exhibit C, and more particularly provided in Developer's Tentative Map submittal dated March 22, 2018. A. Blomquist and Maple Street Land Swan Agreement. To facilitate the reconfiguration and reconstruction of Maple Street and the Blomquist Street Extension, Developer and City, promptly following completion of the Maple Street Vacation, shall enter into a "Agreement for Exchange of Real Property" substantially in the form of Exhibit F providing, among other things, for the exchange of City's fee interest in the Maple Street Vacation Area for a public right-of-way and public services easement over the Blomquist — Developer Segment. Except as otherwise agreed by City Manager or his or her designee in his or her sole discretion, the closing for exchange of City's fee interest in the Maple Street Vacation Area for a public right- of-way and public services easement over the Blomquist — Developer Segment shall occur concurrently with recordation of the Final Map for the Project. Developer may request entry to the Maple Street Vacation Area prior to the exchange closing in order to conduct site preparation and grading activities. Any such entry shall be undertaken pursuant to a right of entry agreement or encroachment permit in form reasonably acceptable to the City Attorney. City approval of the request for pre-closing right of entry shall not be unreasonably withheld. B. Blomquist — City Segment. Subject to the credits described in Section 6.2 below, Developer, at its expense, shall construct or cause the construction of that portion of the Blomquist Street Extension located on the unimproved, existing City -owned Blomquist Street right-of-way (`Blomquist — City Segment"), as generally depicted on Exhibit C. To ensure that the construction of the Blomquist — City Segment is coordinated and appropriately phased with the Project, Developer shall commence construction of the Blomquist — City Segment no later than six (6) months after the date of the issuance of the building permit for the first residential unit, or such later date as mutually agreed to by the Parties in writing. Developer shall substantially complete the Blomquist — City Segment within thirty (30) months after commencement of construction and in any event prior to the issuance of the first certificate of occupancy for any residential unit within the Project. For the avoidance of doubt, Developer's obligation to construct or cause the construction of the Blomquist — City Segment is not contingent upon City's ability to obtain from County a license or right of entry with respect to the County -owned parcel by the County Segment Outside Date as provided in Section 3.3C below. 16 OAK #4843-3885-9090 vI I ATTY/AGR/2018.094/STRADA DEVELOPMENT AGREEMENT REV: 07-27-18 VR Page 16 of 94