RecD98 1998-054808 - Laserfiche WebLink

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WHEREAS, as result of the conveyances described above, those portions of the Property conveyed to the Association for the New Common Area Lots are encumbered by the Development Agreement, although the Old Common Area Lots were not encumbered by or subject to the Development Agreement; and those portions of the Old Common Area Lots now owned by Flatirons are not encumbered by or subject to the Development Agreement; and WHEREAS, the City, Flatirons, and Electronic Arts wish to amend the Development Agreement so that all of the property now owned by Flatirons (Lots 1 through 6 and Parcels A and C as shown on the Final Map) is encumbered by and subject to the Development Agreement, and the New Common Area Lots now owned by the Association are not encumbered by or subject to the Development Agreement; and WHEREAS, in addition to the foregoing, the resubdivision of the Property resulted in the creation of Parcel B as shown on the Final Map; and WHEREAS, Parcel B is separated from the remainder of the Property by the right of way dedicated on the Final Map to the City for the extension of Shoreline Drive and is contiguous to property owned by Shorebreeze Associates LLC, a Delaware limited liability company ("Shorebreeze"); and WHEREAS, subsequent to the recordation of the Final Map, Flatirons agreed to the conveyance of Parcel B to Shorebreeze; and WHEREAS, by quitclaim deed dated June 9, 1997 and recorded on July 3, 1997 as Document No. 97-080413, Flatirons conveyed Parcel B to Electronic Arts Redwood, Inc. ("EAR"), a wholly owned subsidiary of Electronic Arts; and by grant deed dated June 5, 1997 and recorded on July 3, 1997 in the official records of San Mateo County as Document No. 97- 080414, EAR conveyed Parcel B to Shorebreeze; and WHEREAS, Parcel B is described in Exhibit B attached hereto and incorporated herein by this reference; and WHEREAS, contemporaneously with and as a condition of the conveyance of Parcel B to Shorebreeze, Shorebreeze, Flatirons, and EAR entered into the Landscaping Agreement dated as of June 30, 1997 and recorded on ~uly 3, 1997 in the official records of San Mateo County as Document No. 97-080415 (the "Landscaping Agreement") pursuant to which Shorebreeze assumed certain responsibilities for landscaping design, design approval, completion and maintenance with respect to Parcel B and the area between the property line of Parcel B and the curb of Shoreline Drive as extended adjacent to Parcel B (the "Shoreline Drive Area"); and WHEREAS, the Landscaping Agreement also gives Flatirons the right to enter upon Parcel B and the Shoreline Drive Area and cure any default by Shorebreeze under the Landscaping Agreement, at Shorebreeze's expense; and WHEREAS, a copy of the Landscaping Agreement is attached to the Development Agreement and marked Exhibit C; and Flatiron.Doc 2 2140