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SETTLEMENT A/~D RELEASE AGREEMENT <br /> <br /> THIS SETTLEI~ENT AND RELEASE AGREF/~ENT ("Agreement") is made <br />and entered into as of Decenfoer __, 1997 by and between the City <br />of Redwood City ("City") and Max Keech, Mark Kendall and Robert <br />Radanovich (collectively, the "Owners"). The City and the Owners <br />are sometimes collectively referred to herein as the ~Parties" <br />and individually each as a "Party". <br /> <br /> RECITALS <br /> <br /> WHEREAS, the Owners currently own all of that certain real <br />property (the ~Property") located in the City of Redwood City, <br />County of San Mateo, State of California, described as follows: <br /> <br /> Lots 4 and 5 shown on that certain map entitled <br /> "Lido Neighborhood Unit No. 1", which map was <br /> recorded on June 27, 1996 in volume 126 of <br /> Subdivision Maps at pages 76, 77, 78 and 79, <br /> Official Records of San Mateo County, California. <br /> <br /> WHEREAS, pursuant to Resolution No. 12023 adopted July 26, <br />1993, by this Council, the Lido Neighborhood Specific Plan (the <br />"Specific Plan") was adopted; <br /> <br /> WHEREAS, pursuant to Ordinance No. 1130-289 adopted August <br />16, 1993, by this Council, the area within the Specific Plan was <br />rezoned from the "TP" ("Tidal Plain") Zoning District <br />Classification to the ~R-I," ~R-2," "R-3," ~CG,# ~PF," and ~TP-W" <br />Zoning District Classifications with Lido Lots 8A and 8B (now <br />designated Lots 4 and 5) being zoned CG (Commercial General); <br /> <br /> WHERE,, Section 15.2 of Ordinance No. 1130, as amended, the <br />Redwood City Zoning Ordinance (the "Zon. Ord.") permits, within <br />the CG Zoning District Classification, among other uses, business <br />or professional offices, and parking lots and garages and Section <br />15.5 of the Zon. Ord. provides that structures within the CG <br />Zoning District Classifications shall not exceed 75 feet in <br />height; <br /> <br /> WHERF~, Policy 17 of the Specific Plan provides; <br /> <br /> ~Designate Parcels 8A and 8B for general <br /> commercial uses that are compatible with <br /> nearby housing. Uses allowed by right on <br /> Parcels 8A and 8B include retail and <br /> wholesale nurseries, public storage/ <br /> warehousing, public recreational or other <br /> parking, and low-rise office/R & D. Other <br /> conditional uses, subject to securing a use <br /> permit, may be identified by the City." <br /> <br /> <br />