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REV: 09-14-2022 SK <br />1. Consent to Assignment. The City hereby approves the Proposed Subdivision <br />Improvement Agreement Assignment, subject to the following: Within sixty (60) days after the <br />date the Proposed Subdivision Agreement Assignment is signed, Assignee will obtain and provide <br />security in accordance with Chapter 30 of the Redwood City Municipal Code and Section 13 of <br />the Subdivision Improvement Agreement for the scope of improvements that the Assignee will <br />complete, and the Proposed Subdivision Agreement Assignment shall not be effective until the <br />date that Assignee provides the City with evidence that Assignee has obtained such security. <br />2. No Waiver of Rights. The City is not waiving any rights to enforce the terms of the <br />Subdivision Improvement Agreement by signing this Consent. <br />[Remainder of page intentionally left blank. Signature page to follow.] <br />ATTY/AGR.2022.339/IQHQ Elco Yards, LP (Page 2 of 10)