RecDoc 2022-044658 CONF- IQHQ Elco Yards, L.P.

Browse Search

RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Redwood City 1017 Middlefield Road City of Redwood City, CA 94063-0391 Attention: City Clerk Recorded for the Benefit of City of Redwood City Pursuant to Government Code Section 27383 1U11-U4465t$ UUNF 3:00 pm 06/01/22 AG Fee: NO FEE Count of pages 10 Recorded in Official Records County of San Mateo Mark Church Assessor -County Clerk -Recorder Ill 111111 II III gill 1111 ii'llIII ii 111111111111111 l 11 *$ R 0 0 0 3 2 5 5 7 0 4$* Space Above Reserved for Recorder's Use Only AGREEMENT REGARDING IMPROVEMENTS IN RIGHT-OF-WAY, WAIVER, RELEASE AND HOLD HARMLESS THIS AGREEMENT REGARDING IMPROVEMENTS IN RIGHT-OF-WAY, WAIVER, RELEASE AND HOLD HARMLESS ("Agreement") is entered into as of WO--- 24R , 2022 (the "Effective Date"), by and between the City of Redwood City, a charter city and municipal corporation of the State of California ("City"), Benjamin Kopf Holding Co., a California corporation ("Kopf') and IQHQ Elco Yards, L.P., a Delaware limited partnership ("IQHQ" and collectively with "Kopf', "Owner"). City and Owner may hereinafter be referred to individually as a "Party" or collectively as the "Parties". RECITALS A. Kopf is the owner of that certain real property located at 1601 El Camino Real Parcel C, Redwood City, California, as more particularly described in Exhibit "A", attached hereto and incorporated herein by this reference (the "Property"). Kopf and IQHQ have entered into a ground lease whereby IQHQ is leasing the Property from Kopf to develop the Property. For purposes of this Agreement, the "Property" shall consist of Kopf's fee interest and IQHQ's leasehold interest in that property described. in Exhibit "A". IQHQ is developing the property and applied to the City for an encroachment permit to install shoring anchors and other improvements (the "Improvements") within the City's right-of-way ("Right -of -Way") adjacent to the Property. B. Owner is installing the Improvements as part of, and as necessary with respect to, the construction of structures on the Property. C. Special Provision No. 9 of Encroachment Permit No. 21-0961 (the "Encroachment Permit"), granting the permit and allowing the construction of the Improvements within the Right - of -Way, requires that Owner remove all of its Improvements, at its own expense, when directed to do so by City. REV: 04-07-2022 SK ATTY/AGR.2022.081/South Main HH (Page 1 of 5)