Agmt13 Redwood City Partners, LLC

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This Parking Covenant and Agreement touches and concerns the Site. The City or Developer rnay record this Parking Covenant and Agreement at any time following the recordation of the Final Parcel Map for the Site and Effective Date. 1.2 Parties to Agreement. 1.2.1 The Citv. The address of the City is 1017 Middlefield Road, Redwood City, CA 94063; Attention: City Manager. All of the terms, covenants and conditions of this Parking Covenant and Agreement shall be binding on and shall inure to the benefit of the City and its nominees, successoxs and assigns. 1.2.2 The Developer. The Developer is Redwood City Partners, LLC, a Delaware limited liability company. The address of the Developer for purposes of this Agreement is 10121 Miller Avenue, Suite 200, Cupertino, CA 95014; Attention: Derek K. Hunter, Jr., and Kilroy Realty Corporation, 100 First Street, Suite 250, San Francisco, CA 94105; Attention: Mike L. S�nford. All of the terms, covenants and conditions of this Parking Covenant and Agreement shall be binding on and shall inure to the benefit of the Developer and its nominees, successors and ' assigns. Wherever the term "Developer" is used herein or therein, such term shall include any nominee,assignee or successor of the Developer. 1.2.3 The City and beveloper are sometimes individually refened to as "Party" and collectively as"Parties." ' ARTICLE 2 TERMS ' 2.1 Covenants to Pernut Public Parkin.e. ' 2.1.1 Under the Pazkin� Facilities Agreement. The Parties have ' determined that there shall be Two Hundred Ninety (290) public parking spaces developed on ' the Site which shall constitute the "Regular Block Two Parking Spaces," as that term is defined in Section II.A. of the Parking Facilities Agreement. Developer covenants and agrees that it ' shall, as part of its Project, develop, operate and maintain a minimum of 290 public parking ' spaces (the "Existing Public Parking"). As required by paragraph VII.B. of the Parking Facilities Agreement, the Existing Public Parking must be made available for night and weekend parking, with up to four hours of free parking on nights and weekends for patrons of the Cinema and downtown businesses (subject to validation requirements). 2.1.2 Under the Downtown Precise Plan. The Downtown Precise Plan provides that Developer may elect to provide "Shared Parking," ("Shared Parking") as defined in Article 2 of the Redwood City Zoning Ordinance to serve the Project, which Developer has elected to do. The number of Existing Public Parking spaces shall be included to help satisfy the Project's total parking requirement under the Downtown Precise Plan. Developer shall comply with all the terms and conditions in the Downtown Precise Plan and City Zoning Ordinance 3 2013.118JBLOCK 2 HUNTER STORM REV;07-26-13 PT