Reso25-08 0106 PC Reso 1548 Maple DA 4th Amendment

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of the costs of such Demolition Work. I.Developer’s obligation to construct the full Blomquist extension, consisting of the Blomquist-Developer Segment, Blomquist-County Segment, Blomquist-City Segment, and the entirety of the Off-Site Water Line (collectively, the “Blomquist Extension Work”) under the Development Agreement and SIA is contingent upon (i) City obtaining a license or right of entry allowing Developer to access a portion of the Blomquist Street extension that the County of San Mateo owns (“County 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 certain Non-County Authorizations (as defined in Section 3.3.C. of the Development Agreement) required to construct the Blomquist – Developer Segment and Blomquist - County Segment. J.Concurrently herewith City and Developer are entering into a Second Amendment to Subdivision Improvement Agreement (“Second Amendment to SIA”) (i) to memorialize and confirm timely satisfaction of the Blomquist Extension Contingencies, (ii) increase the amounts of certain improvement security required under the SIA, (iii) 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 by the First Amendment to SIA and Second Amendment to SIA, with such written confirmation to be in form reasonably acceptable to City, and (iv) 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 (as such terms are defined in the SIA) by a date certain as more particularly set forth in the Second Amendment to SIA. K.City and Developer now desire to amend the Development Agreement to (i) memorialize and confirm timely satisfaction of the Blomquist Extension Contingencies, and (ii) extend the Initial Term by three (3) years to a total of eleven (11) years to preserve Developer’s rights under the Development Agreement and to preserve the public benefits associated with the Development Agreement, and to make certain other amendments, all as provided below. NOW, THEREFORE, in consideration of the promises, covenants and provisions set forth herein, the receipt and adequacy of which is hereby acknowledged, the Parties agree as follows: A G R E E M E N T S 1.Capitalized Terms. All capitalized terms used herein shall have the meanings given in the Development Agreement, except as expressly otherwise defined in this Fourth amendment. 2.Amendment of Recital C. Recital C of the Development Agreement is deleted in its entirety and replaced with the following (deletions shown in strike out; additions shown as double underlined): ATTY/RESO.0106/PC 1548 MAPLE DA 4TH AMENDMENT - EXHIBIT B 11-13-25 VR Page 3 of 12