RecDoc2025-033901 Subdivision Agreement 2950 Bay Road

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To Developer: Stanford Health Care PD+C 66 Willow Place Menlo Park, CA 94025 To City: City of Redwood City 1017 Middlefield Road Redwood City, California 94063 Attn: City Manager With a copy to: City of Redwood City 1017 Middlefield Road Redwood City, California 94063 Attn: City Attorney 25. Assignment by Developer. Developer may assign its obligations under this Agreement only with the City Attorney's prior written approval. In connection with any such assignment, Developer and its assignee will execute and deliver to City a written assignment and assumption agreement in a form reasonably acceptable to the City Attorney. 26. Covenant Running with the Land. This Agreement pertains to and will run with the Property. Upon execution, this Agreement will be recorded against the Property at Developer's expense. This Agreement binds the assigns and successors -in -interest of Developer, including any transferee of a fee interest in any lot located within the Property. City and its successors and assigns, in the event of any breach of this Agreement, will have the right to exercise all of the rights and remedies, and to maintain any actions at law or suits in equity or other proper proceedings against Developer or its permitted successors and assigns to enforce the curing of such breach. Upon completion of performance and satisfaction by Developer of its obligations under this Agreement, including warranty obligations, a written statement will be recorded by City in the Official Records of San Mateo County terminating this Agreement and releasing all of the Property. The recorded written statement does not release the Parties from obligations that survive termination of the Agreement, including indemnification. 27. Miscellaneous. 27.1 Entire Agreement, Amendments Recitals. This Agreement contains the entire understanding and agreement of the Parties. This Agreement may be altered, amended or modified only by an instrument in writing, executed by the Parties to this Agreement. All recitals set forth above are incorporated by reference into this Agreement. REV: 05-13-25 VR ATTY/AGR.2025 064/Stanford Health Care (2950 Bay Rd. LMA) (Page 13 of 24)