5A3 Development Agreement (Tri-Day Development) - Fully Executed

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3 (d) The terms “include,” “including,” and “such as” shall each be construed as if followed by the phrase “without being limited to.” 2.2 Recitals. The Recitals set forth above are incorporated into and are a part of this Agreement for all purposes. SECTION 3. ACCESS. 3.1 Grant of Easement. The Developer will grant to the Commission a temporary, non- exclusive easement on, in, over, under and across any part(s) of the Property (the “Easement”) in the form attached hereto as Exhibit D, to permit the Commission to fulfill its obligations under this Agreement, including the construction, equipping, inspection, and delivery of the Local Public Improvements. The Easement shall (a) inure to the benefit of the Commission and the Board of Works or any contractors acting on behalf of the Commission in connection with the construction, equipping, inspection, and delivery of the Local Public Improvements; (b) shall bind the Developer and its grantees, successors, and assigns; and (c) shall terminate no later than upon completion of the Local Public Improvements, as determined by the Board of Works. SECTION 4. DEVELOPER’S OBLIGATIONS. 4.1 Generally. The Parties acknowledge and agree that the Commission’s agreements to perform and abide by the covenants and obligations set forth in this Agreement are material consideration for the Developer’s commitment to perform and abide by the covenants and obligations of the Developer contained in this Agreement. Additionally, the Parties acknowledge that the Purchase Agreement and this Agreement are separate but related agreements, each containing obligations that may survive the closing of the Purchase Agreement, and nothing herein is intended to limit or diminish any post-closing obligations set forth in the Purchase Agreement. The Parties further acknowledge and agree that the effectiveness of this Agreement and the obligations of all hereunder are expressly conditioned upon the closing of the Purchase Agreement. Unless and until the Purchase Agreement has closed, this Agreement shall have no force or effect. If the Purchase Agreement has not closed on or before December 31, 2026, then this Agreement shall automatically terminate and be of no further force or effect, and neither Party shall have any liability or obligation to the other hereunder. 4.2 The Project. (a) The Developer will perform all necessary work to complete the improvements set forth in the Project Plan attached hereto as Exhibit B and the plans and specifications to be approved by Executive Director of the Department of Community Investment, Deputy Director of the Department of Community Investment, or their designee, pursuant to Section 4.7 (“Submission of Plans and Specifications for Project”) of this Agreement, which improvements shall comply with all zoning and land use laws and ordinances. Developer will commence construction within ten (10) months after the Closing Date as specified in the Purchase Agreement (“Construction Commencement Date”). (b) The Developer will expend the Private Investment to complete the Project in accordance with the Project Plan attached hereto as Exhibit B and the plans and