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EDEN ROAD PUBLIC IMPROVEMENT AGREEMENT Page 3 of 11 F. The total cost of the Project is estimated to be approximately $5,000,000. G. Upon completion, the Project will provide benefits to the public and adjacent property owners. H. KK Eden Properties LLC (“Owner”) owns parcels 042 4530 001 01, 042 4530 001 02, 042 4530 003 02, 042 4530 003 01, and 042 4530 003 03, adjacent to the Project. Applicant is leasing this land from Owner. Applicant is applying to the City for a conditional use permit (“CUP”) to use a portion of the land for Applicant’s business under application #PLN21-0027. As a condition to obtaining the CUP, City and/or other relevant agencies with regulatory authority have indicated that Applicant develop the Project, for certain valuable consideration, including but not limited to assistance with Applicant’s ability to obtain a conditional use permit for its adjacent properties. City is interested in cooperating with Applicant to develop the Project. AGREEMENT NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration the receipt of which is hereby acknowledged, the Parties agree as follows: 1. Recitals: The recitals above are true and correct and made a part of this Agreement. 2. Term of Agreement: This Agreement is effective following execution by all parties involved and shall remain in effect in perpetuity. The provisions of this agreement shall be applicable to the property and future prospective owners in the event the property were to be sold in the future. 3. Respective Parties’ Financial Contributions to the Project: a. City’s Financial Contributions: City agrees to sell Eden Road to KK Eden Properties LLC (Owner) at the negotiated price of $1.00 (one dollar) as-is, where-is, without warranties or guarantees, including but not limited to suitability for a particular use. Following completion of the deliverables in Section 3.1.i below, Owner shall sell and convey to City a public utility easement (“PUE”) in perpetuity across the entire length of Eden Road, further described in Section 5 of this Agreement. Applicant shall hire a California-licensed land surveyor and shall be responsible for the costs associated with the development and preparation of the plat and legal description for the PUE, while the City of San Leandro shall be responsible for the review and approval of the PUE