RecDoc2026-004839 STMMA 146 Roosevelt Ave.

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that this Agreement will not be deemed to create or effect any additional liability not otherwise provided by law of any party for damage alleged to result from or caused by stormwater runoff. 13. Performance Financial Assurance. City may request Developer to provide a performance bond, security, or other appropriate financial assurance providing for the maintenance of the stormwater treatment measure(s) pursuant to City Stormwater Regulations. 14. Notices. The name of the persons who are authorized to give written notices or to receive written notice on behalf of City and on behalf of Developer under this Agreement. For City: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 (650) 780 - 7000 Attn: City Manager For Deve_loger: Danqing Hu and Biru Zhou 214 Campana Ave Daly City, CA 94015 (415) 713-2259 Except as otherwise stated, all notices to be provided or that may be provided under this Agreement must be in writing and delivered by regular and certified mail, return receipt requested. Each party will notify the other immediately of any changes of address that would require any notice or delivery to be directed to another address. 15. Assignment by Dev_eloor. Developer may assign its obligations under this Agreement only with the City Manager's prior written approval. In connection with any such assignment, Developer and its assignee will execute and deliver to City a written assignment and assumption agreement in a form reasonably acceptable to the City Attorney. 16. Assignment B Cit . City may assign its rights and obligations under this Agreement to a municipal services district or other public agency without Developer's consent. 17. Covenant Running with the !_and. This Agreement pertains to and runs with the Property in perpetuity, and will be recorded against the Property at Developer's expense. This Agreement binds the assigns and successors -in -interest of Developer, including any transferee of any fee interest within the Property. City and its successors and assigns, in the event of any breach of this Agreement, will have the right to exercise all of the rights and remedies, and to maintain any actions at law or suits in equity or other proper proceedings against Developer or its permitted successors and assigns to enforce the curing of such breach. 18. Release of Agreement. In the event that City determines that the stormwater treatment measure(s) located on the Property are no longer required, then City, at the REV: 11-26-25 VR ATTY/AGR.2025.326/Danquing Hu and Biru Zhou (146 Roosevelt Ave) (Page 5 of 16)