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CERTIFICATE OF COMPLETION <br /> <br /> THIS CERTIFICATE OF COMPLETION ("Certificate") certifies that the <br />Developer, as defined in that certain document entitled Disposition and <br />Development Agreement, dated February ~, 1996, ("DDA"), by and between <br />the REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY (the <br />"Agency") and MEZES COURT ASSOCIATES, a California Limited Partnership <br />("Developer"), pursuant to Section 324 of the DDA, has complied with all terms <br />and conditions contained in the DDA governing the Developer's obligations to <br />construct the Project described thereunder. The development described in the <br />DDA is thus hereby deemed complete and accepted in all respects by the <br />Agency and neither the Agency nor any other person shall have any right to <br />reenter the property or re-vest in the Agency the estate conveyed to the <br />Developer or exercise any other rights provided in Section 513 of the DDA. <br />Furthermore, the encumbrance created by the following language: <br /> <br /> 5. Subject to the provisions of Section 512 of the DDA, the <br /> Grantor shall have the additional right., at its option, to repurchase, <br /> reenter and take possession of the Site hereby conveyed, or such <br /> portion thereof, with all improvements thereon, if after conveyance <br /> of title and prior to issuance of a Certificate of Completion for a <br /> development and construction upon the Site, the Grantee or <br /> successor in interest shall: <br /> <br /> a. Fail to proceed with the development and construction of <br /> the improvements as required by the DDA for a period of three (3) <br /> months after written notice thereof from the Grantor; or <br /> <br /> b. Abandon or substantially suspend development or <br /> construction of the improvements for a period of three (3) months <br /> after written notice of such abandonment or suspension from the <br /> Grantor; or <br /> <br /> EXHIBIT <br /> <br /> <br />