Agmt07 County of San Mateo, RWC Redevelopment Agency

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1. Request for Proposal Courthouse Square Concession Vendor Space issued May 24, 2006, with bids due on July 13, 2006. 2. Request for Qualifications Courthouse Square Vendors issued on January 31, 2007, with bids due on February 13, 2007. E. The Project is located within the Project Area for Redwood City Redevelopment Project NO.2. Pursuant to Health and Safety Code section 33391, the Agency is authorized to acquire interests in real property for purposes of redevelopment. City desires to assign to Agency its Easement interest in the Concession Spaces. F. Pursuant to the Cooperative Agreement, City has notified County that it intends to partially assign its easement interest in the Concession Spaces and County has consented to such assignment. G. The Parties desire to enter into this Agreement to set forth their mutual understanding with regard to the easement on, access to, and maintenance of the respective parcels of the Project to ensure the operation, maintenance and repair of the Courthouse Square Project and the vendors to be located in the Concession Spaces in an efficient and reasonable manner. NOW, THEREFORE, in consideration of the mutual covenants and promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as set forth hereinafter. TERMS AND CONDITIONS Section 1. Incorporation of Recitals. The Recitals set forth above are incorporated herein by reference. Section 2. Subject to the terms of this Agreement, the City shall assign to the Agency, and Agency agrees to assume, the City's Easement interest (as set forth in Exhibit "A") in the Concession Spaces referred to as Lease Area 1A, Lease Area 18, Lease Area 2A, and Lease Area 28, identified in the legal descriptions and plat maps attached hereto as Exhibit "8" and incorporated herein by this reference. Section 3. Pursuant to and in compliance with Paragraph 14.3 of the Cooperative Agreement, the Agency shall assume all obligations of the City under the Cooperative Agreement with respect to the Concession Spaces, except for the City's obligations to maintain and repair, referenced in Paragraphs 2.3.2 and 3.1 of the Cooperative Agreement, the Easement Area. The City shall ATTY/AGR/2007.019 053007 2