RecDoc2025-000644 Regulatory Agreement and Declaration of Restrictive Coventants 557 E. Bayshore

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(d) The City may initiate appropriate legal action or procedures to withhold, condition, revoke, deny or suspend any permit, license, subdivision approval or map, or other entitlement for the Property, including, without limitation final inspections for occupancy and/or certificates of occupancy. (e) The City may use any other means authorized under the City Code, Density Bonus Law, or any other applicable law to enforce compliance. 6.7 Attorney's Fees and Costs. In any action brought to enforce this Agreement, the prevailing party shall be entitled to all costs and expenses of suit, including reasonable attorneys' fees. This Section shall be interpreted in accordance with California Civil Code Section 1717 and judicial decisions interpreting that statute. 6.8 Recording and Filing. The City and the Owner shall cause this Agreement, and all amendments and supplements to it, to be recorded against the Property in the Official Records of the County of San Mateo prior to any liens, deeds of trust or other instruments securing any monetary obligation of the Owner or recorded against the Property. The restrictions imposed under this Agreement are land use restrictions required to comply with the requirements under the Affordable Housing Ordinance and Density Bonus Law and may not be subordinated. This Agreement shall not be subordinated to any current or future liens, deeds of trust or other instruments recorded against the Property and shall survive and remain effective as against any transferee acquiring the Property as a result of any foreclosure or deed in lieu of foreclosure. 6.9 Governing L..aW aild VC11LIC. This Agreement shall be governed by the laws of the State of California. Venue shall be the County of San Mateo. 6.10 Amendments. This Agreement may be amended only by a written instrument executed by all the parties hereto or their successors in title, and duly recorded in the real property records of the County of San Mateo, California. 6.11 Notice. Formal notices, demands, and communications between the City and the Owner shall be sufficiently given if and shall not be deemed given unless dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered by express delivery service, return receipt requested, or delivered personally, to the principal office of the City and the Owner as follows: If to the Owner: Redwood Crossing LLC 150 Pelican WaySan Rafael, CA 94901 Attention: CEO With a copy to: Redwood Crossing LLC REV: 10-23-24 J B 150 Pelican Way San Rafael, CA 94901 Attention: Legal Page 16 of 20 ATTY/AGR.2024.201/Redwood Crossing LLC (557 E. Bayshore Affordable Housing Agreement) (Page 16 of 27)