Easement and Maintenance Agreement - Broadway Plaza Agreement

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RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Redwood City 1017 Middlefield Road City of Redwood City, CA 94063-0391 Attention: City Clerk Record for the Benefit of The City of Redwood City Pursuant to Government Code Section 27383 Space Above Reserved for Recorder's Use Only APN: 054-012-120 054-012-134 054-012-140 054-0I2-150 054-012-160 AND 054-0I2-170 EASEMENT AND MAINTENANCE AGREEMENT This Easement and Maintenance Agreement ("Easement Agreement") is made and entered into on this2S:'Mday of 001rWEV- X23, ("Effective Date") by and between SI XX, LLC, a California limited liability company ("Developer"), and the CITY OF REDWOOD CITY, a charter city and California municipal corporation ("City") (together, the "Parties"). RECITALS A. For purposes of this Easement Agreement, Developer means the current fee owner(s) of that certain real property consisting of approximately 11.2 acres located within the City of Redwood City, County of San Mateo, State of California, designated as APNs 054-012- 120, 054-012-130, 054-012-140, 054-012-150, 054-012-160, and 054-012-170 and legally described in Exhibit "A", attached hereto and incorporated herein by reference (the "Property"). B. The Property is being developed as a mixed-use project consisting of approximately 400 market -rate residential units, 120 affordable residential units, 420,000 square feet of office space, 11,000 square feet of retail space, 10,000 square feet of childcare space, public and private open space, and shared underground parking (the "Project"). C. Developer expects to ultimately transfer its interest in the commonly used portions of the Property to the Center Association as a PropeM Owners Association ("POA"), a California nonprofit mutual benefit corporation, which POA will be ultimately responsible for the management, operation and governance of the commonly used portions of the Property. D. On May 20, 2019, the City Council of the City of Redwood City adopted, among other approvals, Resolution No. 15769, approving the Planned Development Permit and Vesting REV: 04-19-2023 JB ATTY/AGR.2023.085/SI XX, LLC (Broadway Plaza Easement and Maintenance Agreement) (Page 1 of 31)