Agmt23 Broadway Plaza Right-of-Way, Waiver, Release and Hold Harmless

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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 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, RELEASEHOLD HARMLESS ("Agreement") is entered into as of 400--'°&E , 20?r the "Effective Date"), by and between the City of Redwood City, a charter city and municipal corporation of the State of California ("City") and SI XX, a California limited liability company ("Owner"). City and Owner may hereinafter be referred to individually as a "Party" or collectively as the "Parties". RECITALS A. Owner is the owner of that certain real property located at 1401 Broadway, Redwood City, California, as more particularly described in Exhibit_ attached hereto and incorporated herein by this reference (the "Property"). Owner applied to the City for an encroachment permit to install piles, CSMpanels, tieback 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. 10 of Encroachment Permit No. CP20-0318 and CP22-0284 (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. D. Owner desires to abandon in place the shoring piles at least four feet below grade or to the depth of the bottom of the adjacent public watermain within Broadway, whichever is less (the "Removal Depth"), and leave the anchors permanently in the Right -of -Way, and City agrees to such abandonment subject to the terms and conditions herein. REV: 12-06-2022 SK ATTY/AGR.2022.416/Broadway Plaza - Broadway Block (Page 1 of 5)