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REV: 09-14-2022 SK <br />CONSENT TO ASSIGNMENT OF STORMWATER TREATMENT MEASURES <br />MAINTENANCE AGREEMENT - SOUTH MAIN (BLOCK A) <br />THIS CONSENT TO ASSIGNMENT OF STORMWATER TREATMENT <br />MEASURES MAINTENANCE AGREEMENT - SOUTH MAIN (BLOCK A) (“Consent”) is <br />dated effective ________, 2022, by the City of Redwood City, a charter city and municipal <br />corporation (the “City”). <br />Recitals: <br />A. Kopf & Kopf LLC, a California limited liability company (“Kopf”), IQHQ Elco <br />Yards, LP, a Delaware limited partnership (“Assignor”) and the City previously entered into that <br />certain Stormwater Treatment Measures Maintenance Agreement - South Main (Block A) dated <br />as of April 28, 2022 (the “Stormwater Agreement”). <br />B. The Stormwater Agreement sets forth the City’s requirements for the Assignor’s <br />construction and maintenance of the stormwater treatment measures on that certain real property <br />described as Parcel A as shown on that certain Map entitled, “Final Map No. 2020-002 South Main <br />Mixed Use – 1601 El Camino Real”, which Map was filed in the Office of the Recorder of the <br />County of San Mateo, State of California, on June 1, 2022, in Book 144 of Maps, at Pages 10-17 <br />(the “Property”), which will be redeveloped, together with certain adjacent properties, as part of <br />a mixed use project that was approved by Resolution No. 15908 dated November 16, 2020 that was <br />adopted by the City Council of the City of Redwood City (the “Development”). Capitalized terms <br />used but not defined in this Consent are defined in the Stormwater Agreement. <br />C. Pursuant to the Partial Assignment attached hereto as Exhibit A (the “Proposed <br />Assignment”), Assignor desires to assign the Stormwater Agreement to IQHQ TRS Elco Yards, <br />Inc. a Delaware corporation (“TRS”). <br />D. Section 16 of the Stormwater Agreement provides that Assignor may assign its <br />obligations under this Agreement only with the City Manager’s prior written approval, and that, <br />in connection with any such assignment, Assignor and its assignee will execute and deliver to City <br />a written assignment and assumption agreement in a form reasonably acceptable to the City <br />Attorney. <br />E. This Consent is intended to act as written approval of the City Manager for the <br />Proposed Assignment. <br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, the parties agree as follows: <br />1. Consent to Assignment. The City hereby approves the Proposed Assignment. <br />2. No Waiver of Rights. The City is not waiving any rights to enforce the terms of the <br />Stormwater Improvement Agreement by signing this Consent. <br />[Remainder of page intentionally left blank. Signature page to follow.] <br />ATTY/AGR.2022.340/IQHQ Elco Yards, LP (Page 1 of 8) <br />September 16,