Reso 23-08 PC Reso 0030 Reso Recommending Approval of Amend. No. 3 to the 1548 Maple DA05.02.2023

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RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attention: City Clerk Space above This Line Reserved for Recorder’s Use Exempt from Recording Fee Per Government Code Section 27383 THIRD AMENDMENT TO DEVELOPMENT AGREEMENT This THIRD AMENDMENT TO DEVELOPMENT AGREEMENT (“Third Amendment”) dated for reference purposes as of ____________, 2023 (“Amendment Date”), is entered into by and between 1548 MAPLE, LLC, a Delaware limited liability company (“Developer”) and the CITY OF REDWOOD CITY, a charter city and California municipal corporation (“City”). Developer and City are sometimes referred to individually herein as a “Party” and collectively as “Parties.” R E C I T A L S This Third Amendment is entered into on the basis of the following facts, understandings and intentions of the Parties. The following recitals are a substantive part of this Third Amendment. A.City and Developer are parties to that certain Development Agreement dated as of August 3, 2018, and recorded on November 15, 2018, in the Official Records of San Mateo County as Document No. 2018-088890 (“Original Development Agreement”), as amended by a First Amendment to Development Agreement dated as of February 22, 2021, and recorded on February 21, 2021, in the Official Records of San Mateo County as Document No. 2021-108251 (“First Amendment”) and by a Second Amendment to Development Agreement dated as of January 24, 2022, and recorded on January 28, 2022, in the Official Records of San Mateo County as Document No. 2022-008266 (“Second Amendment”). The Original Development Agreement as amended by the First Amendment and Second Amendment is referred to herein as the “Development Agreement”. B.The Development Agreement is in full force and effect and a binding obligation of the Parties, and the original named Developer remains the fee owner of the Property subject to the Development Agreement. Except for the First Amendment and Second Amendment, the Original Development Agreement has not been amended or modified either orally or in writing prior to this Third Amendment. C.Sections 9.2 and 9.3 of the Development Agreement authorize the Parties to enter into Insubstantial Amendments to the Development Agreement without a public hearing under EXHIBIT B ATTY/RESO.0030/PC RESO RECOMMENDING APPROVAL OF AMEND.NO.3 TO THE 1548 MAPLE DA REV: 04-17-2023 VR Page 8 of 13