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RECORDING REQUESTED BY <br />AND WHEN RECORDED RETURN TO: <br />City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />Attention: City Clerk <br />Space Above This Line Reserved for Recorder's <br />Use Exempt from Recording Fee per <br />Government Code Section 27383 <br />ASSIGNMENT AND ASSUMPTION AGREEMENT <br />(DEVELOPMENT AGREEMENT) <br />This Assignment and Assumption Agreement (this "Agreement") is entered into as of <br />February 20 2026 ("Effective Date"), by and between Lane 1900 Broadway Owner, LLC, <br />a Delaware limited liability company (which was erroneously identified as "Lane 1900 Broadway <br />Owner LLC, a California limited liability company" in the Development Agreement defined <br />below) (the "Assignor"), and 1900 Broadway Owner, LLC, a Delaware limited liability company <br />(the "Assignee"). <br />RECITALS <br />A. Assignor previously entered into that certain Development Agreement by and <br />between the City of Redwood City and Lane 1900 Broadway Owner, LLC, dated as of December <br />26, 2024, which was recorded in the Official Records of San Mateo County on January 23, 2025, <br />as Instrument No. 2025-003096 ("Development Agreement"). All defined terms not specifically <br />defined herein in bold language shall have the meanings ascribed to the terms in the Development <br />Agreement and are incorporated in this Agreement. <br />B. The Development Agreement relates to certain property located in the City of <br />Redwood City, County of San Mateo County, California (the "Property"). The Property is more <br />particularly described in the Development Agreement. <br />C. Assignor desires to transfer all of Assignor's interest in the Development <br />Agreement and to assign to Assignee its rights, duties and obligations under the Development <br />Agreement and Assignee desires to accept and assume each and all of the rights, duties, and <br />obligations of the Assignor under the Development Agreement. <br />D. Pursuant to Article 10 (Assignment, Transfer and Notice) of the Development <br />Agreement, the Assignor may assign in whole or in part its rights, duties and obligations under the <br />Development Agreement without the City's consent, provided that the assignment is in writing <br />and is made in accordance with Section 10.1 of the Development Agreement. <br />ATTY/AGR/2026.012 —1900 BROADWAY ASSIGNMENT AND ASSUMPTION AGREEMENT <br />REV: 02-04-26 <br />Page 1 of 5 <br />