RecDoc2026-004968 Fourth Amendment to Development Agreement 1548 Maple, LLC

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C. Sections 9.2 and 9.3 of the Development Agreement authorize the Parties to enter into Insubstantial Amendments to the Development Agreement without a public hearing under certain circumstances, but require City Council approval by ordinance for material amendments, including any amendment modifying the Term of the Development Agreement. The First Amendment and Second Amendment were each considered Insubstantial Amendments. The Third Amendment and this Fourth Amendment are Major Amendments to the Development Agreement. D. Subsection 4.2.13 of the Development Agreement defines the "Initial Term" of the Development Agreement as eight (8) years commencing on the "Effective Date," as defined in the Development Agreement. For avoidance of doubt, the Parties acknowledge that the Effective Date is June 20, 2018 and the current expiration of the Term is September 3, 2026. E. On or about February 2021, in connection with City's approval and recordation of a Final Map for the Property and the Project, Developer and City entered into that certain Subdivision Improvement Agreement dated February 18, 2021, recorded in the Official Records as Document No. 2021-108252 ("Original SIA"), setting forth Developer's obligation to construct and install certain on-site and off-site public improvements as set forth therein. The Original SIA has been amended by a First Amendment to Subdivision Improvement Agreement dated March 6, 2023, recorded in the Official Records as Document No. 2023-011339 ("First Amendment to SIA"). The Original SIA, as amended by the First Amendment to SIA, is hereinafter the "SIA". F. The Development Agreement and SIA set forth, among other things, alternative scenarios for Developer's improvement of certain Blomquist Street extension -related improvements, with selection of the required alternative dependent upon whether Developer and City timely satisfied certain conditions precedent with respect to construction of 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. G. Following the Parties' entry into the Original Development Agreement and First Amendment and the Original SIA, City and the County of San Mateo ("County") entered into an Agreement dated September 30, 2021 ("Exchange Agreement"), pursuant to which County agreed to convey to City a fee interest in the approximately 2.0 acre County -owned property at 1580 Maple Street ("County Property"), including buildings and improvements thereon, and City agreed to convey to County a fee interest in an approximately 2.52 acre portion of an undeveloped City -owned parcel at 1469 Maple Street ("City Parcel"). City and County closed escrow for exchange of the Couty Property and City Parcel on or about February 3, 2022. H. In connection with City and County's entry into the Exchange Agreement, Developer, City and the County entered into that certain Tri -Party Implementation Agreement dated for references purposes January 28, 2022 ("Tri -Party Agreement"), setting forth, among other things, City or County's agreement to perform certain Abatement Work (as defined in the Tri -Party Agreement) within structures located on the County Property and following completion of such Abatement Work, Developer's performance of certain Demolition Work (as defined in the Tri -Party Agreement) required to ready the County Property for construction of the Blomquist- County Segment, subject to City and County's agreement to reimburse Developer an agreed share of the costs of such Demolition Work. ATTY/AGR/2025/AMEND.N0.4 - 1548 MAPLE DA REV: 01-22-26 VR Page 2 of 12