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Exhibit 2 <br />CONFIRMATION OF LEASE TERM <br />This Confirmation of Lease Term is made by and between the City of Redwood City, a <br />California charter city and municipal corporation (“City”), and El Camino Real Holdings JV, LLC, <br />a California limited liability company (“Owner”), collectively “Party or Parties,” who agree as <br />follows: <br />1. As part of the community public benefits offered by the Owner in a Development <br />Agreement entered into between the Parties to construct an Office Development Project at 901 El <br />Camino Real, Redwood City, California, effective ____________, 202_ (City Ordinance No. ____ <br />and County Recorder’s Document No. ______) (“Development Agreement”), the Owner agreed <br />to design and construct an approximately 6,450 square foot Teen Center and 180 square foot <br />storage space (collectively referred to as “Teen Center”) at 901 El Camino Real for the City’s <br />exclusive use at specified hours. <br /> <br />2. On ___________, 20__, (“Effective Date”), the City and Owner executed into a <br />Lease Agreement (“Lease”), which contained the terms and respective obligations concerning the <br />City’s exclusive use of the Teen Center for a twenty-five (25) year term, which commences upon <br />the City’s right to occupy and take possession of the Teen Center, or upon the issuance of the first <br />certificate of occupancy (temporary or final) for the Teen Center (“Term Commencement <br />Date.”). <br />3. Owner and City hereby agree to confirm the Lease Term as follows: <br />a. The first (temporary or final) certificate of occupancy for the Teen Center <br />was issued on _____________, 20__. <br />b. __________________, 20__, is the Term Commencement Date. <br />c. __________________, 20__, is the expiration date of the Term. <br />4. City hereby confirms that the Lease is in full force and effect and that the Lease has <br />not been modified, altered or amended, except as follows: <br />____________________________________________________________________; <br />5. The provisions of this Confirmation of Lease Term shall inure to the benefit of, or <br />bind, as the case may require, the parties and their respective successors, subject to the restrictions <br />on transfer and subleasing contained in the Lease. <br /> <br />[Signatures on next page] <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 334 of 336