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7.C. - Page 127 of 178 RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO MEMORANDUM OF LEASE This memorandum of lease ("Memorandum of Lease") is made as of 20_ between THE CITY OF REDWOOD CITY, a charter city and California municipal corporation , ("City" or "Landlord") and THE YMCA OF SILICON VALLEY, a California non-profit corporation ("YMCA -SV" or "Tenant"), collectively referred to as "Parties" and agree as follows: 1. The Lease. Landlord leases to Tenant, and Tenant leases from Landlord, a portion (as more particularly described as "Leased Area," in Section 2 (Leased Area) , below) of that certain real property containing approximately 5.4 acres within Red Morton Park, located at 1455 Madison Avenue, Redwood City consisting of Assessor Parcel Nos. 058-186-040, 058- 196-040 and 058-184-040 and more particularly described in Exhibit 1, attached hereto ("Property" or "Project Site"), on the terms and conditions of that certain unrecorded Ground Lease dated as of , 20_, between the Parties ("Lease"). (Unless expressly provided otherwise, all capitalized terms and phrases used in this Memorandum shall have the same meanings as set forth in the Lease.). 2. Leased Area. Tenant exclusively leases from Landlord the YMCA Site and non - exclusively leases the Non -Exclusive Common Area, both of which comprise a certain portion of the Property which are the subject of the Lease and which are collectively referred to as the "Leased Area," as more particularly shown in Exhibit 2, attached hereto. 3. Term. The initial term ("Term") of the Lease shall commence upon the Commencement Date and expire Forty Nine (49) years thereafter. 4. Option to Extend Termination Date. Tenant has One (1) option to extend the Termination Date of the Lease by Five (5) years, on all the terms and conditions of the Lease. 1 82483 00016\32493585 5 N:\DATA\Client\Y\YMCA\Docs\YMCADraftGroundLease.v1(116.19) 550