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7.A. - Page 129 DISPOSITION AND DEVELOPMENT AGREEMENT (Block 2, Redwood Tower Proj ect) THIS DISPOSITION AND DEVELOPMENT AGREEMENT (this "A�reement") is dated as of , 2013 for reference purposes only, and is entered into by and between the CTTY OF REDWOOD CTTY, a charter city and California municipal corporation (the "Citv"), and REDWOOD CITY PARTNERS, LLC, a Delaware limited liability company (the "Developer") (collectively, the "Parties," and each a"Partv"). The Parties enter into this Agreement with reference to the following recited facts (collectively, the "Recitals," and each a "Recital"): RECITALS A. The City currently owns that certain real property generally located along Middlefield Road/Winslow Street and the Caltrain railroad station in Redwood City, the maj ority of which is currently used as a public parking lot (the "Citv PropertX"), in substantially the form and size as more particularly described by the metes and bounds description attached to this Agreement as Exhibit A and shown on the Map of the Site attached to this Agreement as Exhibit C, both of which exhibits are attached hereto and incorporated herein by reference. The City Property constitutes the maj ority of an area commonly referred to as `Block 2." The exact legal description of the City Property shall be determined upon final parcelization of the City Property and shall be in substantially the same as that shown on Exhibits A and C. B. The Developer owns two parcels of real property on Block 2 that are not owned by the City, one of which is sometimes referred to as the "Restaurant Parcel," and the other sometimes referred to as the " Office Parcel The Restaurant Parcel and the Office Parcel (collectively, the "Developer PropertX") are more particularly described in the legal descriptions attached to this Agreement as Exhibit B and shown on the Map of the Site (Exhibit C). The City Property and the Developer Property are collectively referred to herein as the "Site." C. The Developer desires to acquire the City Property from the City, and develop the Site for retail/commercial and office uses. D. The City desires to sell and the Developer desires to purchase the City Property for the purpose of development of the Project on the Site on the terms and conditions set forth in this Agreement. NOW, THEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH THE PARTIES ACKNOWLEDGE, AND PURSUANT TO THE PROMISES AND COVENANTS SET FORTH 1N THIS AGREEMENT, THE PARTIES AGREE, AS FOLLOWS: 82483.00009\7571312.11 1 ATTY/AGR/2013.118/BLOCK 2 HUNTER STORM REV: 07-19-13 PT