RecDoc2025-069714 - Historic Property Preservation of 1018 and 1020 Main Street

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Recording Requested By And When Recorded Mail To: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attn: City Clerk APN: 053-137-020 2025-069714 2:40 pm 12/18/2025 AG Fee: $56.00 Count of Pages 15 _ Recorded in Official Records 1 County of San Mateo l Mark Church Assessor -County Clerk -Recorder 111111111oll11:1111111111111111111111111111111111111111111111 *$ R 0 0 0 3 5 4 0 1 1 0$* SPACE ABOVE RESERVED FOR RECORDER'S USE Exempt from recording fee per Gov. Code § 27383. CONTRACT BETWEEN REDWOOD CITY AND 1018 MAIN STREET, LLC FOR HISTORIC PROPERTY PRESERVATION OF 1018 AND 1020 MAIN STREET (APN: 053-137-020) THIS CONTRACT, is made and entered into this 2025, by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California, hereinafter called ("City"), and 1018 Main Street, LLC, hereinafter called ("Owner(s)"). WITNESSETH: WHEREAS, California Government Code Sections 50280, et. seq. authorizes cities to enter into contracts with the owners of qualified historic property to provide for the use, maintenance and restoration of such historic property so as to retain its historical significance; and WHEREAS, Owner possesses fee title in and to that certain real property, together with associated structures and improvements thereon, located at 1018 and 1020 Main Street, Redwood City, California (the "Historic Property") (a legal description of the Historic Property is attached hereto as Exhibit A); and WHEREAS, on December 10, 1994, the State of California Department of Parks and Recreation (DPR) and City of Redwood City declared and designated the Historic Property as a historic resource; and WHEREAS, City and Owner, for their mutual benefit, now desire to enter into this Contract both to protect and preserve the characteristics of historical significance of the Historic Property and to qualify the Historic Property for an assessment of valuation pursuant to the provisions of Article 1.9 of Chapter 3, of Part 2, of Division 1 of the California Revenue and Taxation Code. NOW, THEREFORE, CITY AND OWNER, in consideration of the mutual covenants and conditions set forth herein, do hereby agree as follows: 1. Effective Date and Term of Contract. The term of this Contract shall commence on the date of its recordation (the "Effective Date") and shall remain in effect for a term of (10) ten years from such date (the "Initial Term"). Each year upon the anniversary of the Effective Date, the Initial Term will automatically be extended as provided in Section 2 of this Contract. For purposes of this Contract, "Term" shall mean the Initial Term plus all renewal terms added to the Initial Term pursuant to Section 2 of this Contract. 2. Renewal. Each year on the anniversary of the Effective Date of this Contract (hereinafter referred to as the "Renewal Date"), a year shall automatically be added to the Initial Term of this Contract (each such year a "Renewal Term") unless (a) a notice of nonrenewal has been REV: 10-22-25 VR ATTY/AGR 2025.284/1018 and 1020 Main Street (Page 1 of 12)