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THE UNDERSIGNED GRANTOR DECLARES 2019-026554 1:53 pm 04/12/19 DE Fee: 50.00 Count of Pages 13 RC Recorded in Official Records County of San Mateo Mark Church IIII Illllllllllount lll�llllllllllell I II *$ R 0 0 0 2 6 8 6 5 8 0$ (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) DOCUMENTARY TRANSFER TAX IS $ C iqq -0b 13 Computed on full value of property conveyed, or / _ Computed on full value less liens and encumbrances remaining at time of sale. Unincorporated area _X_ City of Redwood City GRANT DEED For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City of Redwood City, a charter city and municipal corporation (the "Grantor"), as successor in interest to the housing assets of the former Redevelopment Agency of the City of Redwood City and who acquired title as City of Redwood City, hereby grants and conveys to MP Bradford Associates, L.P., a California limited partnership (the "Grantee"), the real property (the "Property") located in the City of Redwood City, County of San Mateo, California, known as San Mateo County Assessor's Parcel Nos. 052-372-170, 052-372-200, 052-372-240, and more particularly described in Exhibit A attached hereto and incorporated in this grant deed ("Grant Deed") by this reference. 1. Development Requirements. The Property is conveyed subject to that certain Disposition and Development Agreement entered into by and between the Grantor and Grantee, dated as of October 3, 2017 (the "Agreement"). The Grantor and the Grantee have executed a Memorandum of the Agreement dated as of the date hereof (the "Memorandum") which will be recorded in the Official Records of San Mateo County ("Official Records") substantially concurrently herewith. 2. Development of Improvements. The Grantee hereby covenants and agrees, for itself and its successors and assigns, that the Grantee and such successors and assigns shall promptly begin and diligently prosecute to completion the construction of improvements on the Property (the "Improvements") in accordance with the Agreement, including without limitation in accordance with the provisions of the Agreement that specify the required number of residential units to be constructed and the time period within which construction of the Improvements must be completed. The Property is conveyed subject to the requirements of that certain Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants that will be recorded substantially concurrently herewith (the "Regulatory Agreement"). ATN/AGR/2017.218.1/BRADFORD DDA— EXHIBIT B - GRANT DEED REV: 04-09-19 VR executed in counterpart Page 1 of 11 No fee per GC27388.1; recorded in connection with concurrent transfer subject to imposition of 1 documentary transfer lax Recorded at the Request of Old Republic Title Company - Oakland 111101 iP-11`I RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City Of Redwood City 1017 Middlefield Road Redwood City, Ca 94063 Attn: City Clerk EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE §§6103,27383 THE UNDERSIGNED GRANTOR DECLARES 2019-026554 1:53 pm 04/12/19 DE Fee: 50.00 Count of Pages 13 RC Recorded in Official Records County of San Mateo Mark Church IIII Illllllllllount lll�llllllllllell I II *$ R 0 0 0 2 6 8 6 5 8 0$ (SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE) DOCUMENTARY TRANSFER TAX IS $ C iqq -0b 13 Computed on full value of property conveyed, or / _ Computed on full value less liens and encumbrances remaining at time of sale. Unincorporated area _X_ City of Redwood City GRANT DEED For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City of Redwood City, a charter city and municipal corporation (the "Grantor"), as successor in interest to the housing assets of the former Redevelopment Agency of the City of Redwood City and who acquired title as City of Redwood City, hereby grants and conveys to MP Bradford Associates, L.P., a California limited partnership (the "Grantee"), the real property (the "Property") located in the City of Redwood City, County of San Mateo, California, known as San Mateo County Assessor's Parcel Nos. 052-372-170, 052-372-200, 052-372-240, and more particularly described in Exhibit A attached hereto and incorporated in this grant deed ("Grant Deed") by this reference. 1. Development Requirements. The Property is conveyed subject to that certain Disposition and Development Agreement entered into by and between the Grantor and Grantee, dated as of October 3, 2017 (the "Agreement"). The Grantor and the Grantee have executed a Memorandum of the Agreement dated as of the date hereof (the "Memorandum") which will be recorded in the Official Records of San Mateo County ("Official Records") substantially concurrently herewith. 2. Development of Improvements. The Grantee hereby covenants and agrees, for itself and its successors and assigns, that the Grantee and such successors and assigns shall promptly begin and diligently prosecute to completion the construction of improvements on the Property (the "Improvements") in accordance with the Agreement, including without limitation in accordance with the provisions of the Agreement that specify the required number of residential units to be constructed and the time period within which construction of the Improvements must be completed. The Property is conveyed subject to the requirements of that certain Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants that will be recorded substantially concurrently herewith (the "Regulatory Agreement"). ATN/AGR/2017.218.1/BRADFORD DDA— EXHIBIT B - GRANT DEED REV: 04-09-19 VR executed in counterpart Page 1 of 11