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<br />AGREEMENT <br /> <br />ORIGINAL <br /> <br />FOR <br /> <br />CONSTRUCTION OF IMPROVEMENTS. TOWERS @ SHORES CENTER <br /> <br />THIS AGREEMENT, made and entered into this ~ day of <br /> <br />~ 2000, by and between the CITY OF REDWOOD CITY, a <br /> <br />m~niaal corporation of the State of California, ("City"), and M. V. GO LDEN <br /> <br />STATE TOWERS, LLC, a Delaware limited liability company ("Ground Lessee"), <br /> <br />and SPIEKER PROPERTIES, loP., a California limited partnership, ("Fee <br /> <br />Owner") the owner in fee of record of said real property located at 201, 203, and <br /> <br />205 Redwood Shores Parkway, Redwood City, California (the "Property"); <br /> <br />WITNESSETH: <br /> <br />WHEREAS, Ground Lessee proposes to construct certain real property <br /> <br />improvements on and about the Property at Twin Dolphin Drive and Redwood <br /> <br />Shores, situated in the City of Redwood City, County of San Mateo, State of <br /> <br />California, consisting of a parking structure and two office buildings; and <br /> <br />WHEREAS, Ground Lessee has requested that certain Improvements (as <br /> <br />defined below), be constructed in accordance with, and as required by, the <br /> <br />plans, specifications, and details hereinafter described, title to which <br /> <br />improvements shall be conveyed to City; and <br /> <br />NOW, THEREFORE, in order to ensure satisfactory performance by <br /> <br />Owner of Owner's obligations under Article VII, Chapter 29, General Street <br /> <br />Improvements, of the Code of the City of Redwood City, and in consideration of <br /> <br />F: \5 ha red\Redwood\Cou n cil <br />Agmt-375 <br />FXS:ep <br />07/27/00, 08/02/00R, 08/14/00RR <br /> <br />IIIIIIIIIIII~IIIIIIIIIIIIIIIIIII\IIIIIIIIIIIIIIIIIIIII ~T:~!"øg :1'~.F 76:3 <br />