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� 2015-120685 <br /> 10:35 am 11117115 AG Fee: NO FEE <br /> Count of Pages 7 <br /> Recorded in Official Records <br /> County of San Mateo <br /> RECORDING REQUESTED BY Mark Church <br /> Assessor-Count Clerk-Recorder <br /> �D WHEN�CO�ED�T�N TO: III IIIII IIIII IIIII�III IIIII III I II II III II I III <br /> I IIIIIIII III II <br /> The City of Redwood City * R o 0 o z � z o 9 9 0 * <br /> 1017 Middlefield Road <br /> ' Redwood City, CA 94063 <br /> Attn: City Manager <br /> [Fee Exempt-Gov't Code § 27383] � i <br /> (Space above for Recorder's Use) <br /> SHARED PARKING COVENANT r <br /> (550 ALLERTON STREET) <br /> THI SHARED PARKING COVENANT ("Parking Covenant") is made and entered into <br /> as of � l�j' , 201 ("Effective Date") by and between the CTTY OF REDWOOD <br /> CITY, a charter city and California municipal corporation ("City") and PREMIA SOUTH <br /> COUNTY,LLC,a Delaware limited liability company("Developer"). <br /> RECITALS <br /> A. Developer is the current fee owner of that certain real property consisting of <br /> approximately 0.314 acres located within the City of Redwood City, County of San Mateo, State of <br /> California, described in Exhibit A, attached hereto and incoiporated herein by reference (the <br /> "Property"). <br /> B. The City also has adopted a Downtown Precise Plan (the "Downtown Precise <br /> Plan"),which has certain parking requirements for development within downtown Redwood City. <br /> C. On June 12, 2015, the Subdivision Committee of the City of Redwood City issued <br /> its Notice of Official Action, approving the Parking In-Lieu Fee for development of a new 6-story, <br /> 69,846 sq. ft. office building at 550 Allerton Street, located within the Downtown Precise Plan <br /> Area ("Project"), subject to certain conditions of approval ("Conditions"). <br /> D. The Project consisted of a reduced amount of parking so long as the parking is <br /> "Shared Parking"made available to the public as well as the project. The Project provides for 148 <br /> of the required 210 on-site parking spaces required for the Project. Valet parking is also required <br /> for the life of the Project. <br /> E. As a result, tl�e Conditions require, among other things, that a shared parking <br /> covenant be prepared, executed, and recorded prior to Parcel Map approval. <br /> F. The City and Developer desire that this Shared Parking Covenant shall be the <br /> instrument to set forth with specificity the parking obligations applicable to the Project under the <br /> Downtown Precise Plan. <br /> REV:11-02-15 VR <br /> Page 1 of 5 <br /> ATTY/AGR.2015.244/550 Allerton St Shared Parking Covenant <br />