RecDoc 2026-002924 Development Agreement 901 El Camino Real

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space, and approximately 3,900 square feet of open space area and related amenities and infrastructure as defined in the Development Agreement, which included approval of General Plan and Downtown Precise Plan Amendments, a Vesting Tentative Parcel Map, a Planned Community Permit, and Use Permit, all subject to Conditions of Approval, Land Donation, Land Donation Agreement, Affordable Housing Plan and Relocation Plan. Prior to issuing the permit approvals, the City Council also approved a California Environmental Quality Act ("CEQA") Guidelines Section 15183 Consistency Checklist which determined the action was exempt from further CEQA review by adopting City Resolution No. ("CEQA Consistency Checklist"). This redevelopment and land assembly, including all project approvals, is hereinafter collectively referred to as the "901 EI Camino Real Project." D. Assignor's affiliate, KM -ECR, LLC, a California limited liability company, has a legal and/or equitable interest in 920 Shasta Street (Assessor's Parcel Number 053-343-110) and 122 Buckeye Street (Assessor's Parcel Number 053-343-080), with a combined area of 0.82 -acres or 35,702 square feet, as depicted and more particularly described in Exhibit G-1 ("Affordable Site"). to order to satisfy the requirements of Article 29 (Requirements for Affordable Housing) of the Redwood City Zoning Code for the 901 El Camino Real Project and pursuant to the terms of the Development Agreement, the Assignor agreed to donate and transfer the fee title of the Affordable Site to Assignee for the development of ninety-nine (99) affordable residential dwelling units and one (1) manager's unit at the Affordable Site, at the affordability levels specified in the Affordable Housing Plan (hereinafter collectively referred to as the "Affordable Housing Project"). The Assignor, Assignor's affiliate, Assignee, and the City also entered into an Affordable Housing Land Donation Agreement ("Land Donation Agreement"), in which Assignor's affiliate agreed to donate the Affordable Site to Assignee under the terms and conditions of the Land Donation Agreement, including a condition of a recorded affordability covenant restricting the use of the Affordable Site for the use of ninety-nine (99) affordable units for a term of not less than fifty-five (55) years ("Affordability Covenant"). Pursuant to Section 2.2(C) of the Development Agreement, Assignor agreed to execute and record this Partial Assignment at the same time that the Affordable Site was transferred to Assignee. E. Prior to or concurrently with entering into the Development Agreement, as indicated by City Resolution Nos. , and as part of the development of the Affordable Site, the City approved an Affordable Housing Plan, Relocation Plan, an Architectural Permit, Vesting Tentative Parcel Map, Density Bonus with associated Concessions and Waivers, Land Donation, and Land Donation Agreement, all subject to Conditions of Approval, hereinafter collectively referred to as the "Affordable Housing Project Approvals"). Prior to approving the Affordable Housing Project Approvals, the City Council also approved the CEQA Consistency Checklist, which determined the action was exempt from further CEQA review, by adopting City Resolution No. F. Notwithstanding Assignor's separate rights and obligations to construct and develop the 901 EI Camino Real Project under the terms of the Development Agreement, as contemplated in the Development Agreement, Assignor desires to partially assign its vested rights and obligations in the Development Agreement as those rights and obligations relate to the development of the Affordable Site and Affordable Housing Project to Assignee, and Assignee desires to accept and assume such rights and obligations. The purpose of this Partial Assignment is to memorialize said partial assignment and assumption of the rights and obligations with respect ATTY/AGR/2025.085 -901 EL CAM [NO REAL DA REV: 08-01-25 VR Exhibit G