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<br />B. <br /> <br />On the date of recordation of the Development Agreement, Redwood <br /> <br />Shores, Inc. ("RSI"), was the owner of three common area lots (the "Old Common <br /> <br />Area Lots") adjacent to the Property which were not encumbered by the <br /> <br />Development Agreement. Subsequent to the recordation of the Development <br /> <br />Agreement, RSI conveyed the Old Common Area Lots to the Shores Business <br /> <br />Center Association (the" Association"). <br /> <br />c. <br /> <br />On February 10, 1997, the City approved a final subdivision map for the <br /> <br />Property (the "Final Map") which was filed for record with the Recorder of San <br /> <br />Mateo County on March 27, 1997. Upon the recordation of the Final Map, the <br /> <br />Property was resubdivided into 14 parcels, of which five parcels (Lots A through E as <br /> <br />D. <br /> <br />Immediately prior to the recordation of the Final Map, the Association <br /> <br /> <br />shown on the Final Map), are new common area lots (the "New Common Area <br /> <br />Lots") replacing the Old Common Area Lots. <br /> <br />transferred legal title to the Old Common Area Lots to Flatirons conditioned upon <br /> <br />the transfer of the New Common Area Lots from Flatirons to the Association <br /> <br />immediately after recordation of the Final Map. The Old Common Area Lots were <br /> <br />conveyed to Flatirons immediately prior to recordation of the Final Map by grant <br /> <br />deed dated March 17, 1997 and recorded on March 27, 1997 in the official records of <br /> <br />San Mateo County as Instrument No. 97-034597. <br /> <br />E. <br /> <br />Immediately after recordation of the Final Map, the New Common <br /> <br />Area Lots were conveyed to the Association by grant deed dated March 17, 1997 and <br /> <br />recorded March 27, 1997 in the official records of San Mateo County as Instrument <br /> <br />-2- <br /> <br />MBW /DAAMEND3.00C <br />