Eden Road Public Improvement Agreement - First Amendment

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FIRST AMENDMENT TO EDEN ROAD PUBLIC IMPROVEMENT AGREEMENT This First Amendment to Eden Road Public Improvement Agreement (the "Amendment") is entered into as of 134( y .12 111 , 2025, by and among the City of San Leandro, a California municipal corporation ("City"), Alco Iron & Metal, a California corporation ("Applicant"), and KK Eden Properties, LLC, a California limited liability company ("Owner"). RECITALS A. City, Applicant and Purchaser have entered into an Eden Road Public Improvement Agreement ("Public Improvement Agreement"), dated March 19, 2024, which provides for City to sell the Property to Owner, and for City, Applicant and Owner to perform certain obligations relating to the design, permitting and construction of improvements to Eden Road on the Property. B. Pursuant to Section 4 of the Public Improvement Agreement, Applicant is required to construct improvements within Eden Road from Doolittle Drive to the western end of Parcel APN #42-4530-5-2 (the "Eden Road Improvements"). By this Amendment, the parties desire to establish timing requirements for the construction of the Eden Road Improvements. NOW, THEREFORE, the Parties hereto agree as follows: 1. Construction Timing. The following language is hereby added to the end of Section 4 of the Public Improvement Agreement: "Prior to commencement of the construction required by this Section 4 (the "Eden Road Improvements"), Applicant shall submit to the City a written notice that it has obtained all funds, has obtained all City approvals and permits necessary for the work to be performed on Eden Road in accordance with Section 4 of the Public Improvement Agreement, has submitted a complete application for all other approvals and permits needed from other public agencies and has obtained or is diligently working to obtain such approvals and permits, has entered into such contracts for construction work as necessary to commence and complete the work to be performed on Eden Road, has submitted bonds for the performance of the Eden Road Project or alternate security approved by the City pursuant to Section 3(a)(i) of the Public Improvement Agreement, and is ready to commence the Eden Road Project within thirty (30) days of close of escrow. Applicant shall complete the Eden Road Improvements no later than 24 months after receipt of City grading permit or December 31, 2027, whichever occurs first. If the Eden Road Improvements have not been fully completed by such date due to events of force majeure beyond the control of Applicant, Applicant may request that the City Engineer approve an extension of such completion date, which approval shall not unreasonably be withheld. Applicant may request that the City Engineer approve an extension of such completion date for reasons other than force majeure, which approval may be granted in the City Engineer's sole and absolute discretion. In the event that the Eden Road Improvements are not completed by the required completion date, as it may be extended, and remains incomplete after notice and the expiration of the cure period pursuant to Section 10 hereof, the City may complete the Eden Road Improvements and shall be entitled to recover the full cost and expenses FIRST AMENDMENT TO EDEN ROAD PUBLIC IMPROVEMENT AGREEMENT PAGE 2 OF 4