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<br /> SITE AND FACILITY LEASE
<br /> THIS SITE AND FACILITY LEASE (the"Site and Facility Lease"), dated as of May 1,
<br /> 2013, is between the CITY OF REDWOOD CITY, a charter city and municipal corporation
<br /> organized and existing under and by virtue of the laws of the State of California(the "City"), as
<br /> lessor, and the CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY, a joint
<br /> exercise of powers authority organized and existing under and by virtue of the laws of the State
<br /> of California(the"Authority"), as lessee;
<br /> WITNESSETH :
<br /> WHEREAS, pursuant to this Site and Facility Lease, the City proposes to lease a certain
<br /> parcel of real property situated in the County of San Mateo, State of California,more particularly
<br /> described in Exhibit A attached hereto and made a part hereof (the "Site"), and those certain
<br /> improvements thereon (the "Facility" and,with the Site,the "Property"), to the Authority, all for
<br /> the purpose of assisting the City in undertaking the refunding, on a current basis, all of its
<br /> obligations with respect to the Authority's Lease Revenue Bonds, Series 2003;
<br /> WHEREAS, the Authority proposes to lease the Property back to the City pursuant to
<br /> that certain Lease Agreement, dated as of May 1, 2013, a memorandum of which is recorded
<br /> concurrently herewith(the"Lease Agreement") and to assign all of its rights, title and interest in,
<br /> to and under this Site and Facility Lease and the Lease Agreement, including its right to receive
<br /> lease payments under the Lease Agreement (the "Lease Payments"), its right to enforce payment
<br /> of the Lease Payments and otherwise to enforce its interest and rights under the Lease
<br /> Agreement in the event of a default thereunder by the City, to Compass Bank, an Alabama
<br /> banking corporation (the "Assignee"} pursuant to that certain Assignment Agreement, dated as
<br /> of May 1, 2013,between the Authority and the Assignee, and recorded concurrently herewith;
<br /> NOW,THEREFORE, IT IS HEREBY MUTUALLY AGREED, as follows:
<br /> Section 1. Definitions. Capitalized terms used,but not otherwise defined, in this Site and
<br /> Facility Lease shall have the meanings ascribed to them in the Lease Agreement.
<br /> Section 2. Site and Facility Lease. The City hereby leases to the Authority and the
<br /> Authority hereby leases from the City, on the terms and conditions hereinafter set forth, the
<br /> Property.
<br /> Section 3. Term. The term of this Site and Facility Lease shall commence on the date of
<br /> recordation of this Site and Facility Lease in the Office of the County Recorder of the County of
<br /> San Mateo, State of California, and shall end on July 15, 2018, unless such term is extended or
<br /> sooner terminated as hereinafter provided. If, on July 15, 2018, the aggregate amount of Lease
<br /> Payments (as defined in and as payable under the Lease Agreement) shall not have been paid by
<br /> reason of abatement, default or otherwise, or provision shall not have been made for their
<br /> payment in accordance with the Lease Agreement, then the term of this Site and Facility Lease
<br /> shall be extended until such Lease Payments shall be fully paid or provision made for such
<br /> 338806 2.doc
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