RecDoc 2022-044659 CONF- South Main Block C

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United States mail, certified or registered, return receipt requested, with postage prepaid, addressed as follows: To Developer: IQHQ Elco Yards, L.P. 674 Via de la Valle, Suite 206 Solana Beach, CA 92075 Attn: Ian Colburn With a copy to: Holland & Knight 400 South Hope Street, 8th Floor Los Angeles, CA 90071 Attn: Douglas Praw Email: doug.praw@hklaw.com To City: City of Redwood City 1017 Middlefield Road Redwood City, California 94063 Attn: City Manager With a copy to: City of Redwood City 1017 Middlefield Road Redwood City, California 94063 Attn: City Attorney 14 Assignment by Developer. Developer may assign its obligations under this Agreement only with the prior written approval of the City Manager. In connection with any such assignment, Developer and its assignee will execute and deliver to City a written assignment and assumption agreement in a form acceptable to City Attorney. 15 Assignment by City. City may assign its rights and obligations under this Agreement to a municipal services district or other public agency without Developer's consent. 16 Covenant Running with the Land. This Agreement pertains to and runs with the Property in perpetuity, and will be recorded against the Property at Developer's expense. This Agreement binds the assigns and successors -in -interest of Developer, including any transferee of a fee interest in any unit located within the Property. City and its successors and assigns, in the event of any breach of this Agreement, will have the right to exercise all of the rights and remedies, and to maintain any actions at law or suits in equity or other proper proceedings against Developer or its permitted successors and assigns to enforce the curing of such breach. 17 Miscellaneous. 17.1 Entire Agreement, Amendments Recitals. This Agreement contains the entire understanding and agreement of the Parties. This Agreement may be REV: 04-07-2022 SK ATTY/AGR.2022.078/LMA (Page 8 of 17)