Agmt22 County of San Mateo Temporary License—County Property

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Page 1 of 7 ATTY/AGR/2022.014.03/TRI-PARTY AGREEMENT REV: 01-25-2022 VR RIGHT OF ENTRY FOR CONSTRUCTION ACTIVITIES (County Temporary License—County Property) This RIGHT OF ENTRY FOR CONSTRUCTION ACTIVITIES (this “License”) is dated for convenience January 24, 2022 to be effective as of the Effective Date (defined below), by and between CITY OF REDWOOD CITY, a charter city and municipal corporation, as licensor (“Owner”or “City”) and COUNTY OF SAN MATEO, a political subdivision of the State of California, as licensee (“County”). RECITALS A.1548 Maple, LLC, a Delaware limited liability company (“Developer”) and City are parties to that certain development agreement dated August 3, 2018, recorded in the Official Records of the County of San Mateo (“County”) as Instrument No. 2018-088890, as amended (“Development Agreement”), with respect to development of a 131-unit townhome project and onsite and offsite improvements required for implementation of the townhome project (collectively, the “Project”) on the approximately 7.88 acre property at 1548 Maple Street, Redwood City, California (“Project Site”). B.The Development Agreement provides, among other things, for Developer to construct, at its expense, three segments of an extension of Blomquist Street from Maple Street to Redwood Creek (“Blomquist Extension”) identified as the “Blomquist-City Segment,” “Blomquist-County Segment” and “Blomquist-Developer Segment”, with the Blomquist- County Segment and Blomquist-Developer Segment construction obligations, subject to City’s ability to acquire from County necessary right-of-way over the County Property (defined below) (“Blomquist County Right-of-Way”). C.Pursuant to a Right of Entry for Construction Activities (County Property) between City and Developer, originally dated on or about the date hereof (“Temporary Developer License Agreement”), Developer has obtained an exclusive in part, and non-exclusive in part, temporary license to use the area labeled as the temporary license area in Exhibit A hereto (“Temporary License Area”) for laydown and storage in connection with Developer’s construction of the Project and the Blomquist Extension. Under the Temporary Developer License Agreement, Developer’s temporary license is exclusive for at least 50% of the Temporary License Area and non-exclusive for the remainder of the Temporary License Area, with Developer’s right to the non-exclusive portion of the Temporary License Area to be shared with County as provided in the Temporary Developer License Agreement and this License. D.Pursuant to an agreement dated September 30, 2021 (as amended from time to time, the “Exchange Agreement”), and the closing of the “Exchange Transaction” (as defined below) (“Exchange Closing”), as of the Effective Date (a) County will have conveyed to City a fee interest in that certain approximately 2.00 acre property at 1580 Maple Street, including buildings and improvements thereon, which includes the Blomquist County Right-of-Way (“County Property”) in exchange for City’s conveyance to County of an approximately 2.52 acres of property owned by City constituting a portion of APN 052- 398-010 (the “Exchange Transaction”), (b) pursuant to the terms of a leaseback agreement entered into by City and County at the Exchange Closing, City will have leased back to County for a set time period (not beyond March 31, 2023, the “Expiration Date”) an approximately 1.50 acre portion of the County Property (being a substantial portion of the County Property not included in the Temporary License Area) (“County Lease Area”)