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SETTLEMENT AGREEMENT The City of Redwood City, a chartered municipal corporation of the State of Cali fomi a ("City") and Ryland (as used herein, "Ryland" means (1) The Ryland Group, Inc. and (2) Ryland Homes of Calif., Inc., f/k/a MJ. Brock and Sons, Inc. dba Ryland Homes and/or Ryland Homes Bay Area Division) agree re: Gossamer Isle Owners' Association. etc., v. San Francisco Bay Conservation and Development Commission. et aI., San Mateo Superior Court Action No. 417434 (the "Action"): 1. prejudice; The City shall dismiss its cross-complaint against Ryland with 2. Ryland shall dismiss its cross-complaint against the City with prejudice; and 3. As consideration for the foregoing agreements and for Ryland entering into a settlement with plaintiff in the Action, the City agrees that all maintenance obligations arising under Permit 94-6, as amended, issued by defendant San Francisco Bay Conservation and Development Commission ("BCDC") and under that certain document entitled, "Notice of Covenants, Conditions And Restrictions Affecting Gossamer Isle, a single family lot subdivision Filed per that map recorded in Book 127 of Maps at pages 59- 61, inclusive, San Mateo County Records," (the "CC & Rs"), which document includes settlement provisions of the Action among plaintiff, the City and BCDC, shall be the obligations of the City and plaintiff Gossamer Isle Owners' Association alone, and not of Ryland. The foregoing agreement shall be effective from and after recordation of the CC & Rs. Nothing herein contained shall be deemed to affect Ryland's obligations under that certain agreement between Ryland and the City entitled, "Agreement for Improvement of Gossamer Isle," dated December 1, 1997, including, without limitation, Ryland's obligation thereunder to guarantee and secure the workmanship and materials of the subdivision improvements therein described. (signature page follows) ---',...