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Exhibit G-2 <br /> <br />CITY’S CONSENT TO PARTIAL ASSIGNMENT AND ASSUMPTION <br /> OF DEVELOPMENT AGREEMENT <br /> <br />The City of Redwood City, a California charter city (“City”) hereby consents to the Partial <br />Assignment and Assumption of the Development Agreement between the City and El Camino <br />Real Holdings JV, LLC as Assignor and Abode Communities, a California non-profit public <br />benefit corporation as Assignee (“Partial Assignment”), to which this Consent to Partial <br />Assignment is attached. Accordingly, pursuant to Section 2.2(C) of the Development Agreement, <br />the City Manager is authorized to sign this Consent, and from and after the Effective Date of this <br />Partial Assignment, Assignor shall be relieved of its obligations in the Development Agreement <br />specifically applicable to the development of the Affordable Site and construction of the <br />Affordable Housing Project in accordance with the Affordable Housing Project Approvals <br />(except to the extent of any default by Assignor in respect of the Assignor Obligations which <br />accrued prior to the Effective Date of the Partial Assignment). City acknowledges and agrees <br />that Assignee shall not be responsible for any default by Assignor under the Development <br />Agreement prior to the Effective Date. In addition, the City confirms that from and after the <br />Effective Date, a default by Assignor under the Development Agreement shall not constitute a <br />default by Assignee under the Development and shall not entitle the City to exercise any remedy <br />against Assignee. Upon the City’s issuance of a Certificate of Occupancy for the Affordable <br />Housing Project, at the request of Assignee, the City Manager shall be authorized to take all <br />actions as may reasonably be necessary to confirm that Assignee’s obligation hereunder has been <br />fulfilled and record a termination or release of agreement or other document as applicable to <br />remove this cloud on the title of the Affordable Site. City acknowledges that Assignee intends to <br />further transfer the Affordable Site to an affiliate of Assignee to develop the Affordable Housing <br />Project as provided for in Section 5.4 of the Development Agreement. <br /> <br /> <br /> <br />(Signature page follows) <br /> <br />ATTY/ORD.0002/CC ORD APPROVING DEVELOPMENT AGREEMENT (901 EL CAMINO REAL) - EXHIBIT A <br />REV: 04-23-25 VR <br /> <br />Page 316 of 336