Agmt25 505 Penobscot Drive RWC,LLC

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REV: 11-19-25 VR CITY: City Manager City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Telephone: 650-780-7300 Facsimile: 650-780-7225 with copies to: City Attorney City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Telephone: 650-780-7200 Facsimile: 650-780-5963 DEVELOPER: 505 Penobscot Drive RWC, LLC MetLife Investment Management Attention: Anjit Pareenja 425 Market Street, Suite 1050 San Francisco, CA 94105 Telephone: 415-536-1050 with copies to: Holland & Knight LLP Attention: Tamsen Plume 560 Mission Street, Suite 1900 San Francisco, CA 94105 Telephone: 415-743-6941 Section 5.06. Severability. If any term or provision of this Agreement, or the application of any term or provision of this Agreement to a particular situation, is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining terms and provisions of this Agreement, or the application of this Agreement to other situations, shall continue in full force and effect unless amended or modified by mutual consent of the Parties. Notwithstanding the foregoing, if any material provision of this Agreement, or the application of such provision to a particular situation, is held to be invalid, void or unenforceable, either City or Developer may (in their sole and absolute discretion) terminate this Agreement according to the provisions of Section 5.03. Section 5.07. Assignment and Transfer. Neither Party shall assign or transfer this Agreement without the prior written consent of the other. In the event of any assignment or transfer to which prior written consent is given, the terms, provisions, rights, obligations, conditions, and covenants of this Agreement shall be binding upon the successors and assigns of the Parties. ATTY/AGR.2025.318/505 Penobscot Drive RWC, LLC (Page 6 of 10)