AgdaPkt 2025.09.08 Joint SA PFA - Laserfiche WebLink

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REV: 08-26-25 VR THIRD AMENDMENT TO PARKING FACILITIES AGREEMENT This Third Amendment to Parking Facilities Agreement (“Third Amendment”) is entered into this as of _______________________ (“Effective Date”), by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California (the “City”), and RAR2 - BROADWAY AT REDWOOD CITY - CA, INC., a Maryland corporation (“Developer”), successor-in-interest to BHV Innisfree Ventures I, LLC, a California limited liability company (collectively, the “Parties”), with CENTURY THEATRES, INC., a California corporation (“Century”) as a third party beneficiary. RECITALS A.On or about July 12, 2004, the Parties entered into the Parking Facilities Agreement (the “Original Agreement”). B.On or about September 11, 2007, the Parties entered into the First Amendment to Parking Facilities Agreement (“First Amendment”). C.On or about December 16, 2014, the Parties entered into the Second Amendment to Parking Facilities Agreement (“Second Amendment”), which is of no further effect. D.The Original Agreement, as amended by the First Amendment and the Second Amendment, is hereinafter referred to as the “Agreement.” E.The Initial Term of the Agreement is due to expire on July 27, 2026. The Parties desire to renew the Term of the Agreement for ten (10) years. F.The Parties desire to reduce the required minimum number of public parking spaces in the Red Zone and Orange Zone from one thousand eight hundred fifty (1,850) to one thousand five hundred fifty (1,550), with the possibility of further reduction if approved by Century. G.The Parties further desire to reduce the required minimum number of public parking spaces in the Block Two Parking Lot (which has been developed with the Crossing 900 Project) from three hundred (300) to two hundred ninety (290). H.The Parties desire to amend the Agreement, as more fully set forth herein. AGREEMENT Now therefore, the Parties, for and in consideration of the mutual benefits, covenants and agreements set forth herein, agree as follows: 1.Recitals; Capitalized Terms. The foregoing recitals are incorporated by reference into this Third Amendment. Capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Agreement. 2.Extension of Term. The Term of the Agreement is hereby renewed for approximately an additional ten (10) years, from and after July 28, 2026, upon all of the terms, covenants and conditions contained in the Agreement and herein, except as otherwise set forth in this Third Amendment, and shall now terminate on July 31, 2036 (“First Renewal Term”). After the expiration of the First Renewal Term, the Parties shall renew the Agreement and attempt to agree upon mutually acceptable terms pursuant to Section IX of the Agreement. ATTY/AGR.2025/Amend. No.3/and RAR2 - BROADWAY AT REDWOOD CITY - CA, INC. (Page 1 of 5) 8.G. - Page 5 of 40 122