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<br />IYIi'S:djk 7/2/87 <br /> <br />(#34) <br /> <br />including excavation, <br /> <br />construction, erection of structures, <br /> <br />inspection, repair, maintenance, removal of earth and materials, <br /> <br />and installation and maintenance of landscaping. <br /> <br />3. All such work, structures, improvements and landscaping <br /> <br />shall remain the sole property of City. <br /> <br />4. Agency recognizes that City will spend substantial sums <br /> <br />of money and labor in reliance on this license and that this <br /> <br />license is therefor irrevocable; provided that permission to <br /> <br />maintain and reinstall landscaping shall, after the initial such <br /> <br />installation, be revocable at Agency's discretion. <br /> <br />5. Agency and City, respectively, acknowledge that the use <br /> <br />of the property described in Exhibit I is a public use of mutual <br /> <br />benefit to Agency and City and that therefor each receives and <br /> <br />derives consideration of equal value in granting, accepting, and <br /> <br />executing the provisions of this license. <br /> <br />6. The Effective Date of this license shall be the date <br /> <br />upon which Agency acquires fee title interest in and to the <br /> <br />larger parcel of real property of which the property described in <br /> <br />Exhibi t I is a portion, evidenced by delivery, acceptance and <br /> <br />recordation of a deed so conveying title to Agency. <br /> <br />IN WITNESS WHEREOF, the parties hereto have caused this <br /> <br />License Agreement to be executed by the date first hereinabove <br /> <br />written. <br /> <br />CITY OF REDWOOD CITY, a municipal <br />corporation <br /> <br />By <br /> <br />City Manager <br /> <br />2 <br />