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E. Conditions 9, 10, and 12 require that certain site improvements for the <br />Project be constructed in accordance with Redwood City Municipal Code Chapters 18 <br />and 38, but the Developer wishes to defer installation of such site improvements. <br />F. Developer has applied to City for building permit approval without having <br />completed the required improvements and, therefore, desires to enter into an agreement <br />with City providing for the future construction and installation of such improvements. <br />G. Developer has submitted to City plans, specifications and drawings entitled <br />Site Improvement Permit of 242 Walnut Street for Planet Fitness, prepared by Kier & <br />Wright and dated September 6, 2022 (the "Improvement Plans"), which, in addition to <br />other improvements, provide for certain on-site private improvements consisting of storm <br />drain systems, green infrastructure, and recycled water systems for the Project <br />(collectively, "Improvements"). <br />H. City and Developer desire to enter into this agreement providing for the <br />construction and installation of the Improvements in accordance with the Improvement <br />Plans. <br />AGREEMENT <br />NOW, THEREFORE, in consideration of the faithful performance of the terms and <br />conditions set forth in this Agreement, the Parties hereto agree as follows: <br />1. Purpose. The purpose of this Agreement is to guarantee completion of the <br />Improvements and ensure satisfactory performance by Developer of Developer's <br />obligations to satisfy the Conditions pertaining to the Improvements. <br />2. Property Subject to Agreement. The Property will be subject to this <br />Agreement. <br />3. Duty to Install Improvements. Developer will construct, install and complete, <br />or cause to be constructed, installed and completed, at Developer's sole cost and <br />expense, the Improvements, in accordance with the Improvement Plans and to the <br />satisfaction of the City Engineer, in their reasonable discretion. Developer will also supply <br />all labor and materials therefor, all in strict accordance with the terms and conditions of <br />this Agreement. The Improvements will include, but are not necessarily limited to, all of <br />the following: <br />REV: 09-23-221B <br />3.1, grading, paving; <br />3.2. curbs, gutters, concrete walkways, driveways; <br />3.3. water system, complete; <br />3.4. storm drainage system, complete; <br />3.5. landscaping and irrigation system complete; <br />ATTY/AGR 2022.359/PBA II, LLC (242 Walnut Street) (Page 2 of 15) <br />