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ATTY/AGR/2025-AMEND. NO. 2 - 1548 MAPLE SUBDIVISION IMPROVEMENT AGREEMENT <br />REV: 11-24-25 VR <br />Page 5 of 6 <br />ARTICLE IV <br />REVERSION TO ACREAGE <br />4.1. Reversion to Acreage. If Developer has not completed construction of all <br />Work and Improvements on or before the date that is ten (10) years after the Second <br />Amendment Effective Date (“Blomquist Outside Date”) City may elect in its sole discretion <br />to initiate reversion proceedings under Government Code Sections 66499.11 et seq. at <br />any time after the Blomquist Outside Date. If City does so elect, Developer consents to <br />the reversion of the Property to acreage to the extent required for the City to make the <br />finding contemplated Government Code Section 66499.16(b)(1) and Developer waives <br />and releases any claims it may have against City or City Parties for damages, lost profits, <br />loss of business goodwill or diminution in value of the Property as a result of such <br />reversion to acreage. Upon completion of a reversion to acreage of the Property, <br />Developer shall have no further rights or obligations related to the Work and <br />Improvements under this Agreement and any and all sureties related to the Work and <br />Improvements shall be released by City. <br />ARTICLE V <br />MISCELLANEOUS <br />5.1. Ratification. Developer and City hereby fully and completely ratify and <br />reaffirm the SIA, and all terms, conditions and provisions set forth therein. Except as <br />expressly modified by this Second Amendment, the SIA remains in full force and effect. <br />5.2. Effective Date and Recordation. The “Second Amendment Effective Date” <br />shall be the date all of the Parties have executed this Second Amendment. City shall <br />cause this Second Amendment to be recorded in the Official Records of San Mateo <br />County promptly following the Second Amendment Effective Date. <br />5.3. Execution in Counterparts. This Second Amendment may be executed in <br />counterparts, each of which shall for all purposes be deemed to be an original; and all <br />such counterparts shall together constitute one and the same instrument. <br />IN WITNESS WHEREOF, City and Developer have executed this Second <br />Amendment as of the dates set forth below. <br /> <br /> <br /> <br />(Signature page follows) <br /> <br />9.C. - Page 31 of 56 <br />575