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i � r 2013-028631 3:35 pm 02I21113 AG Fee: NO FEE Count of Pages 21 RECORDING REQUESTED BY � Recorded in Official Records AND WHEN RECORDED MAIL TO: � County of San Mateo Mark Church � Assessor-Count C�erk-Recorder City of Redwood City ) I� � I 1017 Middlefield Road ) IIIII I �II I,IIIII,II I II I ,IIIII!III',I I�I I II I II Redwood City, California 94063 � * R o 0 0 1 6 0 4 4 4 0 * Attention: City Clerk � � � (Space Above This Line for Recorder's Use Only) Exempt from recording fee per Gov.Code§27383. IMPROVEMENT AGREEMENT 640 Veterans Boulevard Za THIS IMPROVEMENT AGREEMENT("Agreement")is made and entered into on this_day of_ u , 20� ("Effective Date") by and between BRE Properties Inc, a Maryland Corporation "Deve oper"), and the CITY OF REDWOOD CITY, a charter city and California municipal corporation ("City")with reference to the following facts: RECITALS A. Developer is the current fee owner of that certain real property consisting of approximately 3.62 acres located within the City of Redwood City, County of San Mateo, State of California,described in Exhibit A,attached hereto and incorporated herein by reference(the"Property"). B. The Downtown Precise Plan requires that Developer construct and install certain public improvements,as mare specifically identified below. C. Developer has submitted to City plans, specifications and drawings entitled 640 Veterans Boulevard Improvement Plans, prepared by BKF Engineers/Surveyors/Planners and dated November 2, 2012 (the "Improvement Plans"), which, in addition to other improvements, provide for certain on-site public improvements consisting of street and street light improvements, storm drain systems, domestic water systems and sanitary sewer systems for the Project(collectively,"Improvements"). D. City and Developer desire to enter an agreement providing for the construction and installation of the Improvements in accordance with the Improvement Plans. A GREEMENT NOW, THEREFORE, in consideration of the faithful performance of the terms and conditions set forth in this Agreement,the parties hereto agree as follows: 1. Pu ose. The purpose of this Agreement is to guarantee completion of the Improvements and ensure satisfactory performance by Developer of Developer's obligations to satisfy the conditions pertaining to the Improvements. 2. Property Subject to Agreement. The Property shall be subject to this Agreement. 3. Dutv to Install Improvements. Developer will construct, install and complete, or cause to be constructed, installed and completed, at the Developer's sole cost and expense, the Improvements, in ATTY/AGR/2013.005/640 VETERANS IMPROVEMENT AGREEMENT REV:01-09-13 VR Page 1 of 18