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6.D. - Page 104 of 108 <br />RECORDING REQUESTED BY <br />AND WHEN RECORDED RETURN TO: <br />The City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />Attn: City Manager <br />Pee Exem t -Gov't Code § 27383 <br />(Space above for Recorder's Use) <br />PARKING COVENANT <br />THIS PARKING COVENANT ("Parking Covenant") is made and entered into as of <br />("Effective Date") by and between the CITY OF REDWOOD CITY, a charter <br />city and California municipal corporation ("City") and 353 Main Street Apartments, LP, a California <br />limited partnership ("Developer"). <br />RECITALS <br />A. Developer is the current fee owner of that certain real property consisting of <br />approximately 1.85 acres located within the City of Redwood City, County of San Mateo, State of <br />California, described in Exhibit "A", attached hereto and incorporated herein by reference (the <br />"Property"). <br />B. The City also has adopted a North Main Street Precise Plan (the "North Main <br />Street Precise Plan"), which has certain parking requirements for development within greater <br />downtown and Bayfront areas of Redwood City. <br />C. On May 21, 2018, the City Council of the City of Redwood City adopted, among <br />other approvals, Resolution No. 15665, approving development of 353 Main Street ("Project"), <br />subject to certain conditions of approval ("Conditions"). <br />D. The Conditions require, among other things, that three parking spaces for Trail Public <br />Parking be dedicated in accordance with the North Main Street Precise Plan prior to building permit <br />approval. <br />E. The City and Developer desire that this Parking Covenant shall be the instrument <br />to set forth with specificity the parking obligations applicable to the Project under the North Main <br />Street Precise Plan. <br />COVENANT <br />1. Covenants to Permit Trail Public Parking. The North Main Street Precise Plan <br />provides that three publicly -accessible on-site parking stalls shall be provided for trail users. <br />Three parking spaces ("Trail Public Parking") shall always be made available to the public for trail <br />uses. <br />2. Stege. The Developer shall install and maintain signage on Main Street, and within <br />the Property, to direct the public to the Trail Public Parking. There shall be sufficient signage to <br />indicate the spaces as Trail Public Parking. The quantity, location, model, and language of the <br />wayfinding signs shall be subject to the approval of the City. <br />i, ILYKIYAW111=1 <br />ATTYIAGR.2020.023/353 Main Street Apartments, LP (Page 1 of 4) 242 <br />