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SECOND AMENDMENT TO DEVELOPMENT AGREEMENT <br />This SECOND AMENDMENT TO DEVELOPMENT AGREEMENT ("Second <br />Amendment') dated for reference purposes as of January 24, 2022 ("Amendment Date"), is <br />entered into by and between 1548 MAPLE, LLC, a Delaware limited liability company <br />("Developer") and the CITY OF REDWOOD CITY, a charter city and California municipal <br />corporation ("City"). Developer and City are sometimes referred to individually herein as a <br />"Party" and collectively as "Parties." <br />RECITALS <br />This Second Amendment is entered into on the basis of the following facts, understandings <br />and intentions of the Parties. The following recitals are a substantive part of this Second <br />Amendment. <br />A. City and Developer are parties to that certain Development Agreement dated as of <br />August 3, 2018, and recorded on November 15, 2018, in the Official Records of San Mateo County <br />as Document No. 2018-088890 ("Original Development Agreement'), as amended by a First <br />Amendment to Development Agreement dated as of February 22, 2021, and recorded on February <br />21, 2021, in the Official Records of San Mateo County as Document No. 2021-108251 ("First <br />Amendment'). The Original Development Agreement as amended by the First Amendment is <br />referred to herein as the "Development Agreement'. <br />B. Developer remains the fee owner of the Property subject to the Development <br />Agreement and depicted in Exhibit A and described in Exhibit B to this Second Amendment. <br />C. The Development Agreement is in full force and effect and a binding obligation of <br />the Parties. Except for the First Amendment, the Original Development Agreement has not been <br />amended or modified either orally or in writing prior to this Second Amendment. <br />D. Subsection 3.3.0 of the Development Agreement requires City to provide <br />Developer with the right to enter on and use requisite portions of the County Property (defined <br />below) to construct the Blomquist-County Segment (defined in the Development Agreement as <br />the "County Authorization"), and sets a deadline for providing such rights as "the date on which <br />the final temporary certificate of occupancy has been issued for the Project" (defined in the <br />Development Agreement as the "County Segment Outside Date"). Subsections 3.3.1) and 3.3E <br />of the Development Agreement specify that if City does not provide the County Authorization by <br />the County Segment Outside Date, Developer will be relieved of its obligation to construct the <br />Blomquist-County Segment and Blomquist-Developer Segment and instead will pay to City a <br />County/Developer Segments In Lieu Payment and assign to City the Developer Work Product for <br />the Blomquist Street Extension. <br />F. City and County have entered into an agreement dated as of September 30, 2.021 <br />("Exchange Agreement'), by which County has agreed to convey to City a fee interest in the <br />approximately 2.0 acre improved County -owned property at 1580 Maple Street ("County <br />Property") which includes all of the necessary right-of-way for the Blomquist-County Segment <br />1 <br />ATTY/AGR/2022.014.01 /TRI -PARTY AGREEMENT <br />REV: 0 1 -25-2022 VR <br />