RecDoc2025-059135 Encroachment Easement Deed (Stanford)

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C. It has been determined that the footings of the Levee Wall encroach onto the Stanford Property. Stanford has agreed to accept and allow the permanent encroachment of the Levee Wall footings onto a certain portion of the Stanford Property and grant an easement with respect thereto in accordance with the terms of this Agreement. NOW THEREFORE, in consideration of the mutual promises, approvals, and covenants made by the Parties and other considerations, the value, adequacy and receipt of which are hereby acknowledged, the Parties agree as follows: 1. Grant of Easement. Stanford grants to City a non-exclusive perpetual easement ("Easement") across and under the portion of the Stanford Property described and depicted in Exhibit 3, attached hereto and incorporated herein by reference ("Easement Area"), for the permanent encroachment onto and within the Easement Area of all existing below -ground Levee Wall footings ("Encroaching Flood Protection Devices"), and for the purpose of the City Access Parties' (defined in Section 6 below) accessing, inspecting, maintaining, improving, repairing, and replacing the Encroaching Flood Protection Devices ("Easement Activities"). For the avoidance of doubt, no above -ground flood protection devices or other above -ground improvements shall be permitted to be constructed on the Easement Area by the City. City accepts the Easement Area in its existing physical condition, without warranty by Stanford. 2. Access. Stanford further grants to City a non-exclusive easement over and across the Stanford Property, for the sole purpose of providing the City and City Access Parties access to and from the Easement Area as may be reasonably necessary to perform the Easement Activities. In using the access easement herein granted, City shall, to the extent practicable, use those streets adjacent to or which provide access to the Easement Area. The City's use of the access easement herein granted shall not unnecessarily interfere with the use of the Stanford Property by Stanford or any Stanford Parties (as defined in Section 6 below), and shall be subject to the additional terms herein. Use of Easement Area. (a) City shall access the Easement Area and perform the Easement Activities in a manner which minimizes interference with the use of the Stanford Property by the Stanford Parties, and City shall conduct and perform its activities in such a manner so as not to endanger the Easement Area, the Stanford Property, the environment and human health and safety. City's entry and use of the Easement Area shall be at City's sole risk and expense. City shall maintain all Encroaching Flood Protection Devices in good condition and repair at its sole expense. City shall not in any manner expand or add to the Encroaching Flood Protection Devices within the Easement Area without Stanford's prior written consent. In the event that the Levee Wall or any portion thereof, including the Encroaching Flood Protection Devices, or the performance of the Easement Activities by any City Access Parties causes damage to the Stanford Property, whether in the Easement Area or otherwise, including but not limited to the sidewalks, hardscaping, landscaping or other improvements, City shall immediately repair same to the condition that existed prior to such damage. (b) Stanford reserves the right to use or to authorize others to use the Easement Area for any purpose which is not inconsistent with the rights granted herein. City acknowledges ATTY/AGR/2025.263 — ENCROACHMENT EASEMENT DEED STANFORD REV: 10-07-25 VR Page 2 of 11