Agmt23 557 East Bayshore Road Settlement Agreement

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ATTY/AGR/SETTLEMENTS/2023/SETTLEMENT AGREEMENT - 557 E. BAYSHORE ROAD REV: 05-17-23 JB #216638140_v1 6 Compromise Amount includes and satisfies any in-lieu fees therefor. City further acknowledges and agrees that, notwithstanding any provision in the Project Conditions or herein to the contrary, Developer shall have no obligation to construct or install any improvements with respect to the Project for which any of the Fees and Contributions or other Project MFA Fees constitute fees “in lieu” of all or any portion of such improvements. (d) Reserved Rights Regarding School Fees. Notwithstanding Section 2(a) above or any other provision in this Agreement to the contrary, and notwithstanding COA 9 (School Impact Fee), City acknowledges and agrees that it shall not collect from Developer any school impact fees or exactions (collectively, “School Impact Fees”) and Developer hereby reserves, and does not waive, any and all protest rights and challenges against, and any and all other available rights and remedies with respect to, any School Impact Fees that are or may be imposed or collected, or are sought to be imposed or collected, at any time by or on behalf of the Sequoia Union High School, the Redwood City School District or any other school district with actual or purported jurisdiction (each, a “School District”) with respect to the Project. Without limiting the foregoing, City further acknowledges and agrees that Developer may protest and/or pay under protest and/or otherwise challenge any new or increased School Impact Fees pursuant to applicable provisions of the MFA and/or any other applicable law. Notwithstanding the foregoing, Developer will present evidence to City, prior to issuance of building permits, that the applicable School Impact Fees have been paid (including payment under protest), compromised, resolved, or otherwise fully satisfied, or determined to be inapplicable in whole or in part by the applicable School District or by a court of competent jurisdiction. (e) Provision of Affordable Housing Units. Nothing herein shall relieve Developer from the requirement to enter into an Affordable Housing Agreement pursuant to COA 35(d). 3. Allowed Processing, Permitting and Administrative Fees. For avoidance of doubt and subject to and without limiting the provisions of Section 2(a)(ii) above with respect to the Processing and Inspection Fees as defined therein, Developer shall pay to City as and when due, in addition to the Compromise Amount, only those Project building and site permit application, processing and inspection fees and other Project-related administrative fees in the types and rates and amounts listed on Exhibit D attached hereto and incorporated herein by this reference (collectively, “Allowed Processing and Administrative Fees”). Notwithstanding any provision herein (including Exhibit D) to the contrary, the allowed Processing and Administrative Fees shall remain unmodified notwithstanding the date of application for or issuance of any building permits for the Project. For avoidance of doubt, and notwithstanding any provision herein (including Exhibit D) to the contrary (excepting the provisions of the immediately following sentence), in the event and to the extent of any conflict between, or any duplication or overlap as between, any of the Allowed Processing and Administrative Fees listed on attached Exhibit D and any of the Processing and Inspection Fees as defined and governed by the provisions of Section 2(a)(ii) above, the provisions of Section 2(a)(ii) shall govern and control and such Allowed Processing and Administrative Fees shall be eliminated or reduced to such extent. The City may charge Allowed Processing and Administrative Fees for COA 17 and COA 18 to the full extent listed in Exhibit D.