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RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: The City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attn: City Manager 2020-058562 CONF 12:25 pm 06/23/20 DR Fee: NO FEE Count of pages 6 Recorded in Official Records County of San Mateo Mark Church Assessor -County Cleric -Recorder III 111111111111111111111111 III 1111111111111111111111111111111 *$ R 0 0 0 2 8 7 3 0 5 9$* Fee Exempt -Gov't Code §273837 (Space above for Recorder's Use) PARKING COVENANT THIS 'ARKING COVENANT ("Parking Covenant") is made and entered into as of (X^Q t ; W{�ffective Date") by and between the CITY OF REDWOOD CITY, a charter citibid California municipal corporation ("City") and 353 Main Street Apartments, LP, a California limited partnership ("Developer"). RECITALS A. Developer is the current fee owner of that certain real property consisting of approximately 1.85 acres located within the City of Redwood City, County of San Mateo, State of California, described in Exhibit "A", attached hereto and incorporated herein by reference (the "Property"). B. The City also has adopted a North Main Street Precise Plan (the "North Main Street Precise Plan"), which has certain parking requirements for development within greater downtown and Bayfront areas of Redwood City. C. On May 21, 2018, the City Council of the City of Redwood City adopted, among other approvals, Resolution No. 15665, approving development of 353 Main Street ("Project"), subject to certain conditions of approval ("Conditions"). D. The Conditions require, among other things, that three parking spaces for Trail Public Parking be dedicated in accordance with the North Main Street Precise Plan prior to building permit approval. E. The City and Developer desire that this Parking Covenant shall be the instrument to set forth with specificity the parking obligations applicable to the Project under the North Main Street Precise Plan. COVENANT 1. Covenants to Permit Trail Public Parking. The North Main Street Precise Plan provides that three publicly -accessible on-site parking stalls shall be provided for trail users. Three parking spaces ("Trail Public Parking") shall always be made available to the public for trail uses. 2. Siege. The Developer shall install and maintain signage on Main Street, and within the Property, to direct the public to the Trail Public Parking. There shall be sufficient signage to indicate the spaces as Trail Public Parking. The quantity, location, model, and language of the wayf nding signs shall be subject to the approval of the City. REV: 02-11-20 PR ATTY/AGR.2020.023/353 Main Street Apartments, LP (Page 1 of 4)