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� 2016-066635 <br /> 11:17 am 07I08116 AG Fee:NO FEE <br /> Count of Pages 6 � <br /> Recorded in Official Records <br /> RECORDING REQUESTED BY �' County of san Mateo <br /> i AND WHEN RECORDED RETURN TO: Mark Church <br /> , Assessor-Count Clerk-Recorder <br /> The Cit of Redwood City II IIIII IIIII�III IIIII IIIII IIIII IIIII IIII IIII <br /> Y I IIIIIIII III IIIII III <br /> , l Ol 7 Middlefield Road * R o o • z z 3 5 6 4 9 * <br /> �i Redwood City, CA 94063 <br /> Atfi: City Manager <br /> [Fee Exempt-Gov't Code § 27383] <br /> (Space above for Recorder's Use) + <br /> SHARED PARKING COVENANT <br /> �� <br /> THIS 5HARED PARICING COVENANT ("Parking Covenant") is made and entered into � <br /> as of ("Effective Date") by and between the CTTY OF REDWOOD CTTY, a <br /> charter city and California municipal corporation ("City") and 601 Marshall Street Owner, LLC, a <br /> Delaware limited liability company("Developer"). <br /> RECITALS <br /> A. Developer is the current fee owner of that certain real property consisting of approximately <br /> 0.69 acres located within the City of Redwood City, County of San Mateo, State of California, described in <br /> Exhibit A, attached hereto and incorporated herein by reference(the"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 November 16,2015,the City Council of the Ciry of Redwood City adopted,among other <br /> approvals, Resolution No. 15458, approving development of 601 Marshall St ("ProjecY'), subject to certain <br /> conditions of approval("Conditions"). <br /> D. The Project consisted of a reduced amount of parking so long as the parking is "Shared <br /> Parking"made available to the public as well as the project. The Project consists of a new 8 story, 105' tall, <br /> 124,220 s.f. office/retail development, providing 255 of the required 373 parking spaces on-site with the <br /> remaining 118 required spaces covered by in-lieu fees. <br /> E. As a result, the Conditions require, among other things, that a shared parking covenant be <br /> 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 /> COVENANT <br /> 1. Covenants to Pertnit Pubiic Parkin�. The Downtown Precise Plan provides that <br /> Developer may elect to provide "Shazed Parking," ("Shared Parking") as defined in Article 2 of the <br /> Redwood City Zoning Ordinance to serve the Project,which Developer has elected to do. Developer <br /> shall comply with all the terms and conditions in the Downtown Precise Plan and City Zomng <br /> Ordinance applicable to Shared Parking, as may be amended from time to time. At a minimum, <br /> the 255 parking spaces ("Public Parking") shall be made available to the public Monday through <br /> ATTY/AGR/2016.119/601 MARSHALLSTREET—SHARED PARKING COVENANT <br /> REV:06-06-16 VR <br /> Page 1 of 3 <br />