RecDoc 2026-002924 Development Agreement 901 El Camino Real

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Exhibit G-2 to Exhibit G CITY'S CONSENTTO PARTIAL ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT AGREEMENT The City of Redwood City, a California charter city ("City") hereby consents to the Partial Assignment and Assumption of the Development Agreement between the City and El Camino Real Holdings .N, LLC as Assignor and Abode Communities, a California non-profit public benefit corporation as Assignee ("Partial Assignment"), to which this Consent to Partial Assignment is attached. Accordingly, pursuant to Section 2.2(C) of the Development Agreement, the City Manager is authorized to sign this Consent, and from and after the Effective Date of this Partial Assignment, Assignor shall be relieved of its obligations in the Development Agreement specifically applicable to the development of the Affordable Site and construction of the Affordable Housing Project in accordance with the Affordable Housing Project Approvals (except to the extent of any default by Assignor in respect ofthe Assignor Obligations which accrued prior to the Effective Date of the Partial Assignment). City acknowledges and agrees that Assignee shall not be responsible for any default by Assignor under the Development Agreement prior to the Effective Date. In addition, the City confirms that from and after the Effective Date, a default by Assignor under the Development Agreement shall not constitute a default by Assignee under the Development and shall not entitle the City to exercise any remedy against Assignee. Upon the City's issuance of a Certificate of Occupancy for the Affordable Housing Project, at the request of Assignee, the City Manager shall be authorized to take all actions as may reasonably be necessary to confirm that Assignee's obligation hereunder has been fulfilled and record a termination or release of agreement or other document as applicable to remove this cloud on the title of the Affordable Site. City acknowledges that Assignee intends to further transfer the Affordable Site to an affiliate of Assignee to develop the Affordable Housing Project as provided for in Section 5.4 of the Development Agreement. A17Y/AGR/2025.085 - 901 EL CAMINO REAL DA REV: 08-01-25 VR (Signature page follows) Exhibit G