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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br />City of Redwood City <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />Attention: City Clerk <br />NO FEE FOR RECORDING PURSUANT <br />TO GOVERNMENT CODE <br />SECTIONS 6103 AND 27383 <br />APNs: 052-520-330 and 052-520-160 <br />2025-000645 <br />3:57 am 01/07/2025 AG DR Fee: NO FEE <br />Count of Pages 28 <br />Recorded in Official Records <br />County of San Mateo <br />Mark Church <br />Assessor -County Clerk -Recorder <br />Illll I' <br />1111111111 kill 111111 1111 111111 11111 Illi 1 I 1111111 <br />*$ R 0 0 0 7 5 3 3 3 3 1$ <br />REGULATORY AGREEMENT AND DECLARATION OF <br />RESTRICTIVE COVENANTS <br />(557 E. Bayshore - Building B) <br />This Regulatory Agreement and Declaration of Restrictive Covenants (the "Agreement") <br />is made and entered into as of IJOV ,I 202' by and between the City of Redwood City, a <br />California charter city and municipal corporation (the "City") and Redwood Crossing LLC, a <br />California limited liability company (the "Owner"). <br />RECITALS <br />A. These Recitals refer to and utilize certain capitalized terms, which are defined in <br />Article 1 of this Agreement. The Parties intend to refer to those definitions in connection with the <br />use of capitalized terms in these Recitals. <br />B. Owner is developing the certain property more specifically described in Exhibit A <br />attached hereto ("Property") as part of a mixed use development project that proposes a total of 480 <br />residential units, including at least 85 affordable units, and approximately 97,101 square feet of fitness <br />center generally located at 557 E. Bayshore Road, Redwood City, CA (the "Development"). The <br />Development proposes two residential buildings one with 222 residential units proposed to be <br />located at 30 Century Court, of which at least 40 will be affordable units ("Building A"), and the <br />other with 258 residential units proposed to be located at 20 Century Court, of which at least 45 <br />will be affordable units (`Building B"), more particularly described in Exhibit B. <br />C. Under the Conditions of Approval for the Development, approved by Resolution <br />No. 22-15 adopted on December 13, 2022 by the Planning Commission of the City of Redwood <br />City ("Conditions of Approval"), Owner agreed to provide a total of eighty-five (85) affordable <br />units within the Development in Building A and Building B, of which twenty-one (21) will be <br />affordable to Very Low -Income Households, twenty-one (21) will be affordable to Low Income <br />REV: 10-23-24 JB <br />Page 1 of 20 <br />,r i <br />ATTY/AGR.2024.202/Redwood Crossing LLC (557 E. Bayshore (Bldg B) Affordable Hsg Agrmt) (Page 1 of 27) <br />