RecDoc 2026-042038 First Amendment South Main Mixed-Use Project

Browse Search

2026-042038 CONF 9:38 am 07/23/2026A3 Fee: NO FEE Count of Pages 11 RECORDING REQUESTED BY ) AND WHEN RECORDED MAIL TO: ) Recorded in Official Records County of San Mateo Mark Church City of Redwood City ) Assessor -County Clerk -Recorder 1017 Middlefield Road ) Redwood City, CA 94063 II I I II II II II II II I I I I II I I II Attention: City Clerk ) *$ R 0 0 0 3 7 0 6 5 3 1$ (Space Above This Line for Recorder's Use Only) Exempt from recording fee per Gov. Code § 27383 FIRST AMENDMENT TO SUBDIVISION IMPROVEMENT AGREEMENT South Main Mixed -Use Project (Except Parcel F) This First Amendment to Subdivision Improvement Agreement ("First Amendment") is made and entered into this day of ,_S 'L °/ 2.f , 2026 ("First Amendment Effective Date") by and between the CITY OF REDWOOD CITY, a charter city and California municipal corporation ("City'); Kopf & Kopf LLC, a California limited liability company ("Kopf A"); Benjamin Kopf Holding Co., a California corporation ("Kopf, B, C, E"); IQHQ Elco Yards, L.P., a Delaware limited partnership ("IQHQ"); and IQHQ TRS Elco Yards, Inc., a Delaware corporation ("IQHQ TRS") (City; Kopf A; Kopf B, C, E; IQHQ; and IQHQ TRS are together, the "Parties") with reference to the following facts: RECITALS A. The Parties previously entered into that certain Subdivision Improvement Agreement - South Main Mixed Use Project (Except Parcel F) dated as of April 28, 2022, and recorded on June 1, 2022, as Instrument No. 2022-044650 in the Official Records of San Mateo County, California (the Agreement"), which sets forth the terms and conditions for the construction and installation by IQHQ and IQHQ TRS (collectively referred to as "Developer") of the Improvements in accordance with the Improvement Plans for that certain real property described as Parcels A, B, C, D and E, as shown on that certain Map entitled, "Final Map No. 2020-002 South Main Mixed Use — 1601 EI Camino Real", which Map was filed in the Office of the Recorder of the County of San Mateo, State of California, on June 1, 2022, in Book 144 of Maps, at Pages 10-17, as more particularly described in the Agreement. B. Developer has completed certain Improvements required under the Agreement and has requested a partial reduction and/or release of the improvement security for the completed Improvements in an amount greater than that authorized under Subsection 14.2 of the Agreement. C. In conjunction with City's acceptance of part of the Improvements, City is amenable to approving a partial reduction or release of the improvement and/or payment security in excess of the amount originally authorized under the Agreement, subject to the terms and conditions set forth in this First Amendment; provided, however, that such reduction or release shall not constitute a waiver of any remaining obligations under the REV: 06-15-26 VR ATTY/AGR.2026.144/Kopf A, Kopf B, C, E, IQHQ, IQHQ TRS (SIA Amendment 1, Elco Yards) (Page 1 of 5)