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D. The Levee hnprovement Project is now complete and Grantor desires to grant
<br />City an easement over a portion of the HCP Property, as further described herein. Solely for the
<br />convenience of Grantor and City, the Easement Area (defined below) includes all areas where
<br />Current Levee Improvements, including relevant portions of the Original Seaport Centre Levee,
<br />are situated and areas needed to access them. Accordingly, the Easement Area consists of both
<br />portions of the Original Levee Easement Areas and additional areas. For the avoidance of doubt,
<br />Grantor and City do not intend to subordinate the rights granted to City under the Original Levee
<br />Easement Deed to any lease, easement, lien, or other encumbrance that may have been recorded
<br />after the date of the Original Levee Easement Deed.
<br />NOW THEREFORE, for valuable consideration, receipt of which is acknowledged, the
<br />parties agree as follows:
<br />1) Grantor hereby grants to City, perpetual easements on, over, across, through, and
<br />under the real property situated in the City of Redwood City, County of San Mateo, State of
<br />California, particularly described in Exhibit A and depicted in Exhibit B attached hereto and
<br />incorporated herein (the "Easement Area"), subject to the terms and conditions specified in this
<br />Easement Deed.
<br />2) The easements granted pursuant to this Easement Deed shall be used by City for
<br />the purpose of accessing, operating, using, maintaining, improving, repairing, and replacing any
<br />and all existing or hereafter constructed facilities for flood and inundation protection.
<br />3) The easements granted pursuant to this Easement Deed shall be non-exclusive,
<br />and Grantor reserves to itself all rights other than those granted herein, including (without
<br />limitation) the following:
<br />(a) the right, at Grantor's sole expense, and subject to the consent of City
<br />which consent shall not be unreasonably withheld, to landscape and to construct pedestrian and
<br />biking trails on and along the surface of the Easement Area, so long as such landscaping or trails
<br />do not interfere with City's use of the Easement Area for the purposes specified in this Easement
<br />Deed; and
<br />(b) the right to grant to others easement or other rights in and to the Easement
<br />Area, provided the rights granted to others shall not unreasonably interfere with City's exercise
<br />of the easement rights granted to City pursuant to this Easement Deed.
<br />4) Grantor further grants to City a non-exclusive easement over and across the HCP
<br />Property, for the sole purpose of providing access to and from the Easement Area as may be
<br />reasonably necessary to inspect, replace, repair, and maintain the Current Levee Improvements
<br />facilities. In using the access easement herein granted, City shall, to the extent practicable, use
<br />those public streets adjacent to or which provide access to the Easement Area. The City's use of
<br />the access easement herein granted shall not unnecessarily interfere with the use by Grantor, and
<br />its tenants, successors, assigns, affiliates, agents, and contractors, of the HCP Property.
<br />2025.276- SEAPORT PURCHASE AGREEMENT
<br />REV: 10-15-25 VR
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