RecDoc2023-000975 Harbor View Property LLC.

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Pedestrian and Bicycle Enhancements shall be constructed with the Project and shall be included in the Subdivision Improvement Agreement defined in Section 3.6. E. Blomquist Water Main Improvements,. Subject to the credits described in Section 6.4 below, prior to issuance of the first certificate of occupancy for the first office building, Developer shall construct approximately 400 LF of 20" water main from the intersection of Maple Street and Blomquist Street to the Project's western property line adjacent to the County Jail at Blomquist Street ("Blomquist Water Main Improvements"), in the general location depicted on Exhibit I attached herein. The cost of the Blomquist Water Main Improvements is estimated by the Parties as of the Effective Date to have a value of Six Hundred Twelve Thousand Two Hundred Thirty Eight Dollars ($612,238). The Blomquist Water Main Improvements shall be constructed in addition to any water main improvements required by the approved VTTM for the Project and shall be included in the Subdivision Improvement Agreement defined in Section 3.6 below. Section 3.6 Subdivision Improvement Agreement. Developer's obligation to construct or cause the construction of, post improvement security and provide warranties for, the various on-site and off-site public improvements required by the Project Approvals and this Agreement shall be set forth in a subdivision improvements agreement ("Subdivision Improvement Agreement") the form of which shall be reasonably acceptable to the City Attorney. The Subdivision Improvement Agreement shall be entered into by the Parties on or before approval of the first final subdivision map for the Project. Section 3.7 Sales Tax Point of Sale Designation. Developer shall use good faith efforts to the extent allowed by law to require all persons and entities providing bulk lumber, concrete, structural steel and pte-fabricated building components, such as roof trusses, used in connection with the construction and development of, or incorporated into, the Project, to (a) obtain a use tax direct payment permit; (b) elect to obtain a subcontractor permit for the job site of a contract valued at Five Million Dollars ($5,000,000) or more; or (c) otherwise designate the Property as the place of use of material used in the construction of the Project in order to have the local portion of the sales and use tax distributed directly to the City instead of through the County -wide pool. Developer shall instruct each of its subcontractors to cooperate with the City to ensure the full local sales/use tax is allocated to City. To assist City in its efforts to ensure that the full amount of such local sales/use tax is allocated to the City of Redwood City, Developer shall provide City with an annual spreadsheet, which includes a list of all subcontractors with contracts in excess of the amount set forth above, a description of all applicable work, and the dollar value of such subcontracts. City may use said spreadsheet sheet to contact each subcontractor who may qualify for local allocation of use taxes to the City. Section 3.8 City of Redwood City Business License. Developer, at its expense, shall obtain and maintain a City of Redwood City business license at all times during the Term, and shall include a provision in all general contractor agreements for the Project requiring each such general contractor to obtain and maintain a City of Redwood City business license during performance of the work of construction. ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT REV: 10-28-2022 VR 12