Agda Pkt 2025.12.08 Joint SA PFA

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ATTY/AGR/2025-AMEND. NO. 2 - 1548 MAPLE SUBDIVISION IMPROVEMENT AGREEMENT REV: 11-24-25 VR Page 3 of 6 Authorization”) and City performing or causing performance of the Abatement Work prior to August 23, 2023 (“County Segment Outside Date”) (collectively, the “Blomquist Extension Contingencies”); the Blomquist Extension Work is also contingent on Developer obtaining from regulatory agencies, including the U.S. Army Corps of Engineers, certain Non-County Authorizations (as defined in Section 3.3.C. of the Development Agreement as amended by the Second Amendment to DA) required to construct the Blomquist – Developer Segment and Blomquist - County Segment (“Non- County Authorizations”). H. Under Section 13.2 of the SIA, Developer is obligated to substitute and increase the original performance security and labor and materials security if (i) the Blomquist Work (as defined in the SIA) is not complete by the date that is 21 months after the earlier of (a) the County Segment Outside Date or (b) the County Authorization, to an amount equal to 100% of the Escalated Cost of the Blomquist Work (as defined in the SIA). I. On or about May of 2023, Developer completed and City accepted certain Non-Blomquist Work consisting of the majority of the Blomquist-City Segment and certain Maple Street improvements, the total value of which was estimated at $6,528,850, at which time City approved a reduction in the amount of the Non-Blomquist Work performance security to $14,894,250. J. City and Developer desire to amend the SIA (i) to memorialize and confirm timely satisfaction of the Blomquist Extension Contingencies, (ii) increase the amounts of the Blomquist Work performance and labor materials security as required by Section 13.2 of the SIA, (iii) memorialize Developer’s satisfactory completion of certain of the Non- Blomquist Work, (iv) provide for the surety company which issued improvement security guaranteeing Developer’s obligations under the SIA to represent, warrant and confirm that all surety bonds previously issued for the benefit of City, including performance and labor and materials bonds, remain in full force and effect and continue to guaranty Developer’s obligations to construct and install the Work and Improvements pursuant to the terms of the SIA, as amended hereby, with such written confirmation to be in form reasonably acceptable to City, and (v) set forth a process by which City may initiate proceedings to revert the Property to acreage pursuant to Government Code Sections 66499.11 et seq., if Developer has not completed construction of all Work and Improvements by a date certain, all as more particularly set forth herein. A G R E E M E N T S NOW, THEREFORE, in consideration of the faithful performance of the terms and conditions set forth in this Second Amendment, the Parties hereto agree as follows: 9.C. - Page 29 of 56 573