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- ORIG AL AGREEMENT FOR THE FUNDING OF OFF-SITE ROADWAY IMPROVEMENTS (Mid Point Technology Park) THIS AGREEMENT FOR THE FUNDING OF OFF-SITE ROADWAY IMPROVEMENTS (the "Agreement"), is entered into as of ~ Ur.t,.., '7 ,1997, by and between the CITY OF REDWOOD CITY, a municipal corporation of the State of California ("City"), and Martin/Campus Associates, a Delaware Limited Partnership ("Owner"), relating to the funding of certain traffic mitigation measures for the development of buildings upon the real property of Owner, commonly referred to as the "Mid Point Technology Park"; and more particularly described in Exhibit "A' attached hereto and incorporated by this reference (the "Property"). RECITALS WHEREAS, the Property comprises approximately 48.5 acres located in the City of Redwood City, along Broadway, bounded to the west by Douglas Avenue, to the east by Second Street, to the south by Bay Road and to the north by Highway 101, and as shown as ail land within the Mid Point Technology Park Master Plan on Exhibit "B" attached hereto (the "Property"), and Owner desires to complete the Mid Point Technology Park on the Property by constructing approximately 468,855 square feet of incremental, new space, as indicated in cross-hatching on Exhibit "B" (the "Project"). The Project consists of six buildings, all of which are shown on Exhibit "B" attached hereto, and which are described as follows: (1) the building shown as the Ampex building at 500 Broadway and consisting of approximately 59,760 square feet (the "Ampex Building"); (2) the building shown as 450 Broadway and consisting of approximately 86,418 square feet ("Building A"); (3) the building shown as 440 Broadway and consisting of approximately 96,344 square feet ("Building B"); (4) the building shown as 430 Broadway and consisting of approximately 86,904 square feet ("Building C"); (5) the building shown as 420 Broadway and consisting of approximately 90,840 square feet ("Building D"); and (6) the building shown as 415 Broadway and consisting of approximately 48,589 square feet ("Building "E"); WHEREAS, the Planning Commission of the City certified an Environmental Impact Report (EIR) addressing the development of the new space on the Property on December 17, 1996, and such EIR included a traffic analysis (the "EIR Traffic Analysis") which identified the Project's traffic impacts to Woodside Road/Middlefield Avenue, Woodside Road/Bay and Woodside Road/Broadway (generally referred to as the "Corridor"). The EIR identified certain mitigation measures for the Project's traffic, including Mitigation Measures 3-1 and 3- 2 (both involving improvements at Woodside Road/Broadway and Owner's agreement to pay AGMT-1024 1 10/24/97 10/28/97R 10/29F)7R