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HomeMy WebLinkAboutCC Resolution 11761 (Corporate Center)CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLUTION NO. 11761 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL APPROVING EXECUTION AND IMPLEMENTATION BY THE CITY OF SAN RAFAEL OF A CONSENT AND AGREEMENT RELATING TO THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF SAN RAFAEL AND EQUITY OFFICE PROPERTIES (RE: HINES - SAN RAFAEL CORPORATE CENTER). BE IT RESOLVED by the Members of the City Council of the City of San Rafael as follows: WHEREAS, the City and the predecessors of CA -San Rafael Corporate Center Limited Partnership, (formerly known as San Rafael Corporate Center, LLC) ("EOP") entered into a Development Agreement dated February 17, 1998 pursuant to the authority of Government Code Sections 65864 et seq. which agreement was amended by the Amendment to Development Agreement dated September 22, 2000 (the "Development Agreement"); with the consent of the City, the rights and obligations under the Development Agreement were assigned to EOP; and WHEREAS, EOP has proposed selling the property that is the subject of the Development Agreement and assigning its rights under the Development Agreement to [Hines entity]. ("Hines") and to that end the City staff has presented to the City Council in connection with this Resolution a Consent and Agreement to implement the proposed sale of the property and assignment of rights and obligations under the Development Agreement which Consent and Agreement is on file with the City Clerk. NOW, THEREFORE, IT IS HEREBY RESOLVED as follows: Section 1. The City Council hereby approves the Consent and Agreement and authorizes the City Manager to execute the Consent and Agreement on behalf of the City in substantially in the form on file with the City Clerk, with such changes as are approved by the City Attorney, such approval to be conclusively evidenced by the execution of the Consent and Agreement. Section 2. This Resolution shall take immediate effect from and after its adoption. 141\01\232283.1 5.16.2005 H 0 Ou ^b� I, JEANNE M. LEONCINI, City Clerk of the City of San Rafael, hereby certify that the foregoing was duly and regularly introduced and adopted at a regular meeting of said City Council of the City of San Rafael held on the 16th day of May 2005 by the following vote: AYES: COUNCILMEMBERS: Cohen, Heller, Miller, Phillips & Mayor Boro NOES: COUNCILMEMBERS: None ABSENT: COUNCILMEMBERS: None JE M. LEONCINI, City Clerk 141\01\232283.1 5.16.2005 CONSENT AND AGREEMENT This Consent and Agreement (the "Consent and Agreement") is entered into as of May 16, 2005 by and among the City of San Rafael (the "City"), a charter city, the San Rafael Redevelopment Agency (the "Agency"), a public body corporate and politic, CA -San Rafael Corporate Center Limited Partnership, a Delaware limited partnership (formerly known as San Rafael Corporate Center, LLC) ("EOP"), and San Rafael Associates NF L.P., a Delaware limited partnership ("SR Associates"), San Rafael Development NF L.P., a Delaware limited partnership ("SR Development"), and San Rafael Yard NF L.P., a Delaware limited partnership ("SR Yard"; together with SR Associates and SR Development, collectively "Hines"), with reference to the following: A. On May 18, 1998, the Agency and EOP's predecessor entered into an Owner Participation Disposition and Development Agreement which agreement was amended by the First Amendment to Owner Participation, Disposition and Development Agreement dated September 7, 1999, and the Consent and Agreement dated as of August 7, 2000 (the "2000 Consent"). The Owner Participation, Disposition and Development Agreement and amendments thereto are referred to herein as the "OPDDA". The OPDDA provides development of the Property (as defined in the OPDDA) in accordance with the provisions of the OPDDA. B. As provided for in the 2000 Consent, EOP acquired the Property and assumed the obligations of its predecessor under the OPDDA. C. The City, and EOP's predecessors entered into a Development Agreement, dated February 17, 1998 pursuant to the authority of Government Code Sections 65864 et seq. which agreement was amended by the Amendment to Development Agreement dated September 22, 2000 (the "2000 Amendment"). The Development Agreement and the Amendment to Development Agreement are referred to herein as the "DA". The DA sets forth certain agreements between the City and EOP's predecessors regarding the Property (as defined in the DA). (The "Property" as defined in the DA and the OPDDA consists of the same real property.) D. EOP desires to sell and Hines desires to purchase the Property. To that end, Equity Office Management, L.L.C., a Delaware limited liability company ("EOM"), acting as duly authorized agent on behalf of EOP, and SAP IV Originating L.L.C., a Delaware limited liability ("SAP"), have entered into an agreement dated June 6, 2005 (the "Purchase Agreement") providing, among other things, for the conveyance of the Real Property to SAP or certain permitted assignees and assignment to SAP or certain permitted assignees of EOP's rights and obligations under the OPDDA and DA. SAP has assigned: (i) the right to purchase and receive conveyance of Parcels 1, 2, 3 and 4 to SR Associates (which parcels are described in Exhibit A attached hereto and made a part hereof and are referred to herein as "Parcels 1, 2, 3 and 4"); (ii) the right to purchase and receive conveyance of Parcels 5, 6 and 7 to SR Development (which parcels are described in Exhibit B attached hereto and made a part hereof and are referred to herein as "Parcels 5, 6 and 7); and (iii) the right to purchase and receive conveyance of Parcel 8 to SR Yard (which parcel is described in Exhibit C attached hereto and made a part hereof and is referred to herein as "Parcel 8"). E. Pursuant to the OPDDA, consent of the Agency is required for conveyance of the Property to Hines and assignment to Hines of the rights and obligations under the OPDDA. Pursuant to the DA, consent of the City is required for conveyance of the Property to Hines and assigmnent to Hines of the rights and obligations under the DA. EOP and Hines desire to obtain those consents of the Agency and City. F. The Agency, City, EOP and Hines desire to set forth the terms and conditions related to the Agency's and City's consent to conveyance of the Property to Hines and assignment to Hines of the rights and obligations under the OPDDA and DA. THEREFORE, the parties agree as follows: Section 1. Consent to Assignment of OPDDA. Subject to the prior satisfaction of the conditions in Section 3 below, the Agency hereby consents to and approves the conveyance of the Property to Hines (as described in Paragraph E) and EOP's assignment to Hines of all its rights and obligations under the OPDDA, excluding any indemnity obligation under the OPDDA or DA that arose from an event occurring prior to conveyance of the Property to Hines, which assignment shall be substantially on the terms set forth in Exhibit D attached hereto and made a part hereof. Section 2. Consent to Assignment of DA. Subject to the prior satisfaction of the conditions in Section 3 below, the City hereby consents to and approves the conveyance of the Property to Hines (as described in Paragraph E) and EOP's assignment to Hines of all its rights and obligations under the DA, excluding any indemnity obligation under the OPDDA or DA that arose from an event occurring prior to conveyance of the Property to Hines, which assignment shall be substantially on the terms set forth in Exhibit D. Section 3. Conditions to Assignment of OPDDA and DA. The following are conditions precedent to the Agency's and City's consent and approval of the conveyance of the Property to Hines and the EOP's assignment to Hines of its rights and obligations under the OPDDA and DA, which conditions may be waived (or the dates extended) in the sole discretion of the Executive Director of the Agency and the City Manager of the City: (i) By August 31, 2005 the Property shall have been conveyed to Hines. (ii) By August 31, 2005 EOP shall have assigned all its rights and obligations under the DA to Hines, which assignment shall be on the terms set forth in Exhibit D. (iii) By August 31, 2005 EOP shall have assigned all its rights and obligations under the OPDDA to Hines, which assignment shall be on the terms set forth in Exhibit D. 2 Section 4. Assumption by Hines; Release of EOP. Upon the Agency's and City's consent and approval pursuant to Sections 1 and 2 taking effect, Hines assumes all the rights and obligations of the Developer (as defined in the OPDDA and the DA) under the OPDDA and the DA, excluding any indemnity obligation under the OPDDA or DA that arose from an event occurring prior to conveyance of the Property to Hines, which assumption shall be on the terms set forth in Exhibit D. Upon the Agency's and City's consent and approval pursuant to Sections 1 and 2 taking effect, EOP shall be released from all obligations and liabilities under the OPDDA and DA, provided, however, such release shall not extend to any indemnity obligation under the OPDDA or DA that arose from an event occurring prior to conveyance of the Property to Hines. Section 5. Termination. If the conditions set forth in Section 3 above to the Agency's and City's consent and approval have not been satisfied or waived by the dates specified therein (or such later date to which the Executive Director of the Agency and the City Manager of the City in their sole discretion specify), then this Consent and Agreement shall terminate and the parties shall have no further rights, obligations or liabilities under this Consent and Agreement. Section 6. Compliance with OPDDA and DA. The City hereby acknowledges, represents and warrants to Hines that, as of the date of this Consent, neither EOP (or any of its predecessors in interest) nor the City is in default under the OPDDA or the DA and that both EOP and the City have satisfied all conditions and complied with all obligations, including, without limitation, payment obligations or public improvement obligations, required to be satisfied, fulfilled, complied with, or paid by EOP (or any of its predecessors in interest) or the City under the OPDDA or the DA as of the date of this Consent. Without limitation of the foregoing, the City confirms that it has been paid: (i) all amounts required to be paid by EOP or any of its predecessors in interest under Section 3.03 of the OPDDA, (ii) all amounts required to be paid by EOP or any of its predecessors in interest under Article 5 of the DA, (iii) all payments included within the definition of "Exactions" in Section 1.7 of the DA, and (iv) all payments required to be made pursuant to the 2000 Amendment or the 2000 Consent or both. Section 7. Miscellaneous Terms. Capitalized terms set forth in this Consent and Agreement shall have the same meaning as set forth in the OPDDA and DA unless specified otherwise herein. This Consent and Agreement may be executed and acknowledged in counterparts. [Remainder of page intentionally left blank.] IN WITNESS WHEREOF, the parties have executed this Consent and Agreement as of the date set forth in the opening paragraph above. SAN RAFAEL REDEVELOPMENT AGENCY, a public body corporate and politic 42 y: Rod Gould, Executive Director ATTEST: Aj6ncy Secretary CITY OF SAN RAFAEL, a charter city /, ✓L��,, By. Rod Gould, City Manager 4 ATTEST: By: 4 . ity Clerk [Signatures continued on next page.] CA -SAN RAFAEL CORPORATE CENTER LIMITED PARTNERSHIP, a Delaware limited partnership By: EOM GP, L.L.C., a Delaware limited liability company, its general partner By: Equity Office Management, L.L.C., a Delaware limited liability company, its non- member manager By: Name: Title: SR ASSOCIATES: SAN RAFAEL ASSOCIATES NF L.P., a Delaware limited partnership By: Name: Title: SR DEVELOPMENT: SAN RAFAEL DEVELOPMENT NF L.P., a Delaware limited partnership Wo Name: Title: SAN RAFAEL YARD NF L.P., a Delaware limited partnership IM 5 Name: Title: EXHIBIT A CORPORATE CENTER PARCEL ONE: PARCELS 1 THROUGH 4, INCLUSIVE, AS SHOWN UPON THAT CERTAIN MAP ENTITLED, "FINAL MAP BEING A SUBDIVISION OF THE LANDS OF SAN RAFAEL CORPORATE CENTER, LLC (SN #2000-049730), CITY OF SAN RAFAEL, COUNTY OF MARIN, CALIFORNIA", FILED FOR RECORD ON SEPTEMBER 27, 2002, IN VOLUME 2002 OF MAPS, AT PAGE 185, MARIN COUNTY RECORDS. EXCEPTING AND RESERVING THEREFROM THE RESERVATION OF ALL MINERALS AND MINERAL RIGHTS, INTERESTS AND ROYALTIES, INCLUDING, WITHOUT LIMITING THE GENERALITY THEREOF, OIL, GAS AND OTHER HYDROCARBON SUBSTANCES, AS WELL AS METALLIC OR OTHER SOLID MINERALS, IN AND UNDER THE PROPERTY, HOWEVER, GRANTOR OR ITS SUCCESSORS AND ASSIGNS, SHALL NOT HAVE THE RIGHT FOR ANY PURPOSE WHATSOEVER TO ENTER UPON, INTO, OR THROUGH THE SURFACE OF THE PROPERTY IN CONNECTION THEREWITH, AS CONTAINED IN THE DEED FROM SOUTHERN PACIFIC TRANSPORTATION COMPANY, A DELAWARE CORPORATION TO SAN RAFAEL REDEVELOPMENT AGENCY, A BODY CORPORATE AND POLITIC OF THE STATE OF CALIFORNIA, RECORDED OCTOBER 30, 1997 AS RECORDER'S SERIAL NO. 97- 062019, MARIN COUNTY RECORDS. PARCEL TWO: AN EASEMENT FOR THE PURPOSES OF CONSTRUCTING, INSTALLING, REPAIRING, REPLACING AND MAINTAINING A PEDESTRIAN PATHWAY, IRRIGATION IMPROVEMENTS, FENCING AND LANDSCAPING AS SET FORTH IN THAT CERTAIN AGREEMENT FOR CITY OF SAN RAFAEL GRANT OF ACCESS AND MAINTENANCE EASEMENT TO SAN RAFAEL CORPORATE CENTER, LLC, BY AND BETWEEN THE CITY OF SAN RAFAEL AND SAN RAFAEL CORPORATE CENTER, LLC, RECORDED MARCH 7, 2002 AS RECORDER'S SERIAL NO. 2002-0018155, MARIN COUNTY RECORDS, DESCRIBED AS FOLLOWS: COMMENCING AT A POINT ON THE SOUTHERLY LINE OF THE 20 FOOT WIDE P.G.&E. SLURRY WALL EASEMENT AS DESCRIBED IN THE DOCUMENT RECORDED IN SERIAL NUMBER 98-033514, MARIN COUNTY RECORDS, SAID POINT ALSO BEING A POINT ON THE EASTERLY LINE OF LINDARO STREET (66' WIDE); THENCE FROM SAID POINT OF COMMENCEMENT, ALONG THE SOUTHERLY LINE OF SAID EASEMENT (SN #98-033514), SOUTH 76° 44' 52" EAST, 70.78 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 84° 17' 14" EAST, 32.99 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 790 31' 32" EAST, 111.03 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 760 52' 26" EAST, 105.29 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, 6 NORTH 870 55' 06" EAST, 107.97 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 62° 01' 36" EAST, 34.81 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 46° 27' 46" EAST, 25.64 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 33° 08' 08" EAST, 15.06; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 190 37' 58" EAST, 6.33 FEET TO THE TRUE POINT OF BEGINNING; THENCE FROM SAID TRUE POINT OF BEGINNING, CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 19° 37' 58" EAST, 33.23 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 00 14' 58" EAST, 8.68 FEET; THENCE SOUTH 73° 54' 20" EAST, 35.52 FEET; THENCE SOUTH 670 08' 28" WEST, 17.16 FEET; THENCE SOUTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST, WHOSE CENTER BEARS SOUTH 220 51' 32" EAST, WITH A RADIUS OF 70.00 FEET; THROUGH A CENTRAL ANGLE OF 310 14' 49", FOR AN ARC LENGTH OF 38.18 FEET TO THE TRUE POINT OF BEGINNING. APN: 013-012-35,34 & 013-021-50-55 7 EXHIBIT B DEVELOPMENT PARCELS PARCEL ONE: PARCELS 5,6 AND 7, INCLUSIVE, AS SHOWN UPON THAT CERTAIN MAP ENTITLED, "FINAL MAP BEING A SUBDIVISION OF THE LANDS OF SAN RAFAEL CORPORATE CENTER, LLC (SN #2000-049730), CITY OF SAN RAFAEL, COUNTY OF MARIN, CALIFORNIA", FILED FOR RECORD ON SEPTEMBER 27, 2002, IN VOLUME 2002 OF MAPS, AT PAGE 185, MARIN COUNTY RECORDS. EXCEPTING AND RESERVING THEREFROM THE RESERVATION OF ALL MINERALS AND MINERAL RIGHTS, INTERESTS AND ROYALTIES, INCLUDING, WITHOUT LIMITING THE GENERALITY THEREOF, OIL, GAS AND OTHER HYDROCARBON SUBSTANCES, AS WELL AS METALLIC OR OTHER SOLID MINERALS, IN AND UNDER THE PROPERTY, HOWEVER, GRANTOR OR ITS SUCCESSORS AND ASSIGNS, SHALL NOT HAVE THE RIGHT FOR ANY PURPOSE WHATSOEVER TO ENTER UPON, INTO, OR THROUGH THE SURFACE OF THE PROPERTY IN CONNECTION THEREWITH, AS CONTAINED IN THE DEED FROM SOUTHERN PACIFIC TRANSPORTATION COMPANY, A DELAWARE CORPORATION TO SAN RAFAEL REDEVELOPMENT AGENCY, A BODY CORPORATE AND POLITIC OF THE STATE OF CALIFORNIA, RECORDED OCTOBER 30, 1997 AS RECORDER'S SERIAL NO. 97- 062019, MARIN COUNTY RECORDS. PARCEL TWO: AN EASEMENT FOR THE PURPOSES OF CONSTRUCTING, INSTALLING, REPAIRING, REPLACING AND MAINTAINING A PEDESTRIAN PATHWAY, IRRIGATION IMPROVEMENTS, FENCING AND LANDSCAPING AS SET FORTH IN THAT CERTAIN AGREEMENT FOR CITY OF SAN RAFAEL GRANT OF ACCESS AND MAINTENANCE EASEMENT TO SAN RAFAEL CORPORATE CENTER, LLC, BY AND BETWEEN THE CITY OF SAN RAFAEL AND SAN RAFAEL CORPORATE CENTER, LLC, RECORDED MARCH 7, 2002 AS RECORDER'S SERIAL NO. 2002-0018155, MARIN COUNTY RECORDS, DESCRIBED AS FOLLOWS: COMMENCING AT A POINT ON THE SOUTHERLY LINE OF THE 20 FOOT WIDE P.G.&E. SLURRY WALL EASEMENT AS DESCRIBED IN THE DOCUMENT RECORDED IN SERIAL NUMBER 98-033514, MARIN COUNTY RECORDS, SAID POINT ALSO BEING A POINT ON THE EASTERLY LINE OF LINDARO STREET (66' WIDE); THENCE FROM SAID POINT OF COMMENCEMENT, ALONG THE SOUTHERLY LINE OF SAID EASEMENT (SN #98-033514), SOUTH 76° 44' 52" EAST, 70.78 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 84° 17' 14" EAST, 32.99 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 790 31' 32" EAST, 111.03 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 760 52' 26" EAST, 105.29 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, m NORTH 870 55' 06" EAST, 107.97 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 62° 01' 36" EAST, 34.81 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 460 27' 46" EAST, 25.64 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 33° 08' 08" EAST, 15.06; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 190 37' 58" EAST, 6.33 FEET TO THE TRUE POINT OF BEGINNING; THENCE FROM SAID TRUE POINT OF BEGINNING, CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 19° 37' 58" EAST, 33.23 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 00 14' 58" EAST, 8.68 FEET; THENCE SOUTH 730 54' 20" EAST, 35.52 FEET; THENCE SOUTH 670 08' 28" WEST, 17.16 FEET; THENCE SOUTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST, WHOSE CENTER BEARS SOUTH 220 51' 32" EAST, WITH A RADIUS OF 70.00 FEET; THROUGH A CENTRAL ANGLE OF 310 14' 49", FOR AN ARC LENGTH OF 38.18 FEET TO THE TRUE POINT OF BEGINNING. APN: 013-012-35,34 & 013-021-50-55 0 EXHIBIT C rKyal-cl PARCEL 8, AS SHOWN UPON THAT CERTAIN MAP ENTITLED, "FINAL MAP BEING A SUBDIVISION OF THE LANDS OF SAN RAFAEL CORPORATE CENTER, LLC (SN #2000-049730), CITY OF SAN RAFAEL, COUNTY OF MARIN, CALIFORNIA", FILED FOR RECORD ON SEPTEMBER 27, 2002, IN VOLUME 2002 OF MAPS, AT PAGE 185, MARIN COUNTY RECORDS. EXCEPTING AND RESERVING THEREFROM THE RESERVATION OF ALL MINERALS AND MINERAL RIGHTS, INTERESTS AND ROYALTIES, INCLUDING, WITHOUT LIMITING THE GENERALITY THEREOF, OIL, GAS AND OTHER HYDROCARBON SUBSTANCES, AS WELL AS METALLIC OR OTHER SOLID MINERALS, IN AND UNDER THE PROPERTY, HOWEVER, GRANTOR OR ITS SUCCESSORS AND ASSIGNS, SHALL NOT HAVE THE RIGHT FOR ANY PURPOSE WHATSOEVER TO ENTER UPON, INTO, OR THROUGH THE SURFACE OF THE PROPERTY IN CONNECTION THEREWITH, AS CONTAINED IN THE DEED FROM SOUTHERN PACIFIC TRANSPORTATION COMPANY, A DELAWARE CORPORATION TO SAN RAFAEL REDEVELOPMENT AGENCY, A BODY CORPORATE AND POLITIC OF THE STATE OF CALIFORNIA, RECORDED OCTOBER 30, 1997 AS RECORDER'S SERIAL NO. 97- 062019, MARIN COUNTY RECORDS. PARCEL TWO: AN EASEMENT FOR THE PURPOSES OF CONSTRUCTING, INSTALLING, REPAIRING, REPLACING AND MAINTAINING A PEDESTRIAN PATHWAY, IRRIGATION IMPROVEMENTS, FENCING AND LANDSCAPING AS SET FORTH IN THAT CERTAIN AGREEMENT FOR CITY OF SAN RAFAEL GRANT OF ACCESS AND MAINTENANCE EASEMENT TO SAN RAFAEL CORPORATE CENTER, LLC, BY AND BETWEEN THE CITY OF SAN RAFAEL AND SAN RAFAEL CORPORATE CENTER, LLC, RECORDED MARCH 7, 2002 AS RECORDER'S SERIAL NO. 2002-0018155, MARIN COUNTY RECORDS, DESCRIBED AS FOLLOWS: COMMENCING AT A POINT ON THE SOUTHERLY LINE OF THE 20 FOOT WIDE P.G.&E. SLURRY WALL EASEMENT AS DESCRIBED IN THE DOCUMENT RECORDED IN SERIAL NUMBER 98-033514, MARIN COUNTY RECORDS, SAID POINT ALSO BEING A POINT ON THE EASTERLY LINE OF LINDARO STREET (66' WIDE); THENCE FROM SAID POINT OF COMMENCEMENT, ALONG THE SOUTHERLY LINE OF SAID EASEMENT (SN #98-033514), SOUTH 76° 44' 52" EAST, 70.78 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 84° 17' 14" EAST, 32.99 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 790 31' 32" EAST, 111.03 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 76° 52' 26" EAST, 105.29 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 870 55' 06" EAST, 107.97 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 62° 01' 36" EAST, 34.81 FEET; THENCE CONTINUING 10 ALONG SAID SOUTHERLY LINE, NORTH 460 27' 46" EAST, 25.64 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 330 08' 08" EAST, 15.06; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 190 37' 58" EAST, 6.33 FEET TO THE TRUE POINT OF BEGINNING; THENCE FROM SAID TRUE POINT OF BEGINNING, CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 190 37' 58" EAST, 33.23 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 00 14' 58" EAST, 8.68 FEET; THENCE SOUTH 73° 54' 20" EAST, 35.52 FEET; THENCE SOUTH 670 08' 28" WEST, 17.16 FEET; THENCE SOUTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST, WHOSE CENTER BEARS SOUTH 220 51' 32" EAST, WITH A RADIUS OF 70.00 FEET; THROUGH A CENTRAL ANGLE OF 310 14' 49", FOR AN ARC LENGTH OF 38.18 FEET TO THE TRUE POINT OF BEGINNING. APN: 013-012-35,34 & 013-021-50-55 11 EXHIBIT D Recorded at request of, and when recorded return to: Christine A. McGuinness, Esq. Schiff Hardin LLP 623 Fifth Avenue 28`h Floor New York, NY 10022 APN: 013-012-35,34 & 013-021-50-55 ASSIGNMENT OF RIGHTS AND OBLIGATIONS PERTAINING TO OWNER PARTICIPATION, DISPOSITION AND DEVELOPMENT AGREEMENT AND TO DEVELOPMENT AGREEMENT This Assignment of Rights and Obligations Pertaining to Owner Participation, Disposition and Development Agreement and to Development Agreement (this "Assignment"), is made as of June , 2005, by and between CA -SAN RAFAEL CORPORATE CENTER LIMITED PARTNERSHIP, a Delaware limited partnership, formerly known as San Rafael Corporate Center, LLC ("Seller"), as assignor, and SAN RAFAEL ASSOCIATES NF L.P., a Delaware limited partnership ("SR Associates"), SAN RAFAEL DEVELOPMENT NF L.P., a Delaware limited partnership ("SR Development"), and SAN RAFAEL YARD NF L.P., a Delaware limited partnership ("SR Yard"; together with SR Associates and SR Development, collectively "Buyers"), as assignees. WITNESSETH: A. On May 18, 1998, the San Rafael Redevelopment Agency (the "Agency"), a public body corporate and politic, and Seller's predecessor entered into an Owner Participation Disposition and Development Agreement, which agreement was amended by: (i) a First Amendment to Owner Participation, Disposition and Development Agreement, dated September 7, 1999, and (ii) a Consent and Agreement, dated as of August 7, 2000 (the "2000 Consent"). The Owner Participation, Disposition and Development Agreement and amendments thereto are collectively referred to herein as the "OPDDA." The OPDDA provides, among other things, for the development of certain real property (the "Real Property") located in the City of San Rafael, Marin County, California, described in Exhibit A attached hereto and made a part hereof. 12 B. As provided for in the 2000 Consent, Seller acquired the Real Property and assumed the obligations of its predecessor under the OPDDA. C. The City of San Rafael (the "City"), a charter city, and Seller's predecessors entered into a Development Agreement, dated February 17, 1998, pursuant to the authority granted in California Government Code Sections 65864 et seq., which agreement was amended by an Amendment to Development Agreement, dated September 22, 2000 (the "2000 Amendment"). The Development Agreement and the 2000 Amendment are collectively referred to herein as the "DA." The DA sets forth certain agreements between the City and Seller's predecessors regarding the Real Property. D. Seller desires to sell the Real Property, and SR Associates, SR Development and SR Yard each desire to purchase a portion of the Real Property, such portions together constituting the entirety thereof. To that end, Equity Office Management, L.L.C., a Delaware limited liability company ("EOM"), acting as duly authorized agent on behalf of Seller, and SAP IV Originating L.L.C., a Delaware limited liability ("SAP"), have entered into an agreement dated May _, 2005 (the "Purchase Agreement") providing, among other things, for the conveyance of the Real Property to SAP or certain permitted assignees. SAP has assigned: (i) the right to purchase Parcels 1, 2, 3 and 4 to SR Associates (which parcels are described in Exhibit B attached hereto and made a part hereof and are referred to herein as "Parcels 1, 2, 3 and 4"); (ii) the right to purchase Parcels 5, 6 and 7 to SR Development (which parcels are described in Exhibit C attached hereto and made a part hereof and are referred to herein as "Parcels 5, 6 and 7"); and (iii) the right to purchase Parcel 8 to SR Yard (which parcel is described in Exhibit D attached hereto and made a part hereof and is referred to herein as "Parcel 8"). Any single parcel within Parcels 1, 2, 3 and 4, Parcels 5, 6 and 7 and Parcel 8, is referred to herein as a "Parcel." E. Pursuant to the OPDDA, consent of the Agency is required for conveyance of the Real Property to Buyers and assignment to Buyers of the rights and obligations under the OPDDA, and, pursuant to the DA, consent of the City is required for conveyance of the Real Property to Buyers and assignment to Buyers of the rights and obligations under the DA. F. The Agency and City have each consented to conveyance of the Real Property to Buyers and the assignment to Buyers of the rights and obligations of Seller under the OPDDA and DA, all on condition that certain rights and obligations of Seller under the OPDDA and DA be assigned to Buyers on or before August 31, 2005. NOW, THEREFORE, and for valuable consideration, receipt of which is acknowledged, Seller and Buyers agree as follows: Section 1. Assignment and Assumption under the OPDDA as to Parcels 1, 2, 3 and 4. (i) Seller hereby assigns, transfers and delivers to SR Associates all right, title and interest of Seller in and to, and all obligations under, the OPDDA (excluding any indemnity obligation under the OPDDA that arose or hereafter arises from an event occurring prior to conveyance to SR Associates of Parcels 1, 2, 3 and 4), to the extent that such right, title, interest or obligations pertain to Parcels 1, 2, 3 and 4 or any one or more of them. 13 (ii) SR Associates hereby accepts the assignment referred to in Paragraph Section 1(i), and assumes and agrees to perform all the obligations of the Developer (as defined in the OPDDA) under the OPDDA (excluding any indemnity obligation under the OPDDA that arose or hereafter arises from an event occurring prior to conveyance of Parcels 1, 2, 3 and 4 to SR Associates), but only to the extent that such obligations pertain to Parcels 1, 2, 3 and 4 or any one or more of them. Where any such obligation pertains to more than one Parcel, such obligation shall be equitably apportioned among the Parcels to which it pertains for the purposes of the assumption set forth in this Paragraph Section 1(ii) in a manner consistent with the provisions of the OPDDA. Section 2. AssiRmnent and Assumption under the OPDDA as to Parcels 5, 6 and 7. (i) Seller hereby assigns, transfers and delivers to SR Development all right, title and interest of Seller in and to, and all obligations under, the OPDDA (excluding any indemnity obligation under the OPDDA that arose or hereafter arises from an event occurring prior to conveyance of Parcels 5, 6 and 7 to SR Development), to the extent that such right, title, interest or obligations pertain to Parcels 5, 6 and 7 or any one or more of them. (ii) SR Development hereby accepts the assignment referred to in Paragraph Section 2(i), and assumes and agrees to perform all the obligations of the Developer (as defined in the OPDDA) under the OPDDA (excluding any indemnity obligation under the OPDDA that arose or hereafter arises from an event occurring prior to conveyance of Parcels 5, 6 and 7 to SR Development), but only to the extent that such obligations pertain to Parcels 5, 6 and 7 or any one or more of them. Where any such obligation pertains to more than one Parcel, such obligation shall be equitably apportioned among the Parcels to which it pertains for the purposes of the assumption set forth in this Paragraph Section 2(ii) in a manner consistent with the provisions of the OPDDA. Section 3. Assip-nment and Assumption under the OPDDA as to Parcel 8. (i) Seller hereby assigns, transfers and delivers to SR Yard all right, title and interest of Seller in and to, and all obligations under, the OPDDA (excluding any indemnity obligation under the OPDDA that arose or hereafter arises from an event occurring prior to conveyance of Parcel 8 to SR Yard), to the extent that such right, title, interest or obligations pertain to Parcel 8. (ii) SR Yard hereby accepts the assignment referred to in Paragraph Section 3(i), and assumes and agrees to perform all the obligations of the Developer (as defined in the OPDDA) under the OPDDA (excluding any indemnity obligation under the OPDDA that arose or hereafter arises from an event occurring prior to conveyance of Parcel 8 to SR Yard), but only to the extent that such obligations pertain to Parcel 8. Where any such obligation pertains to more than one Parcel, such obligation shall be equitably apportioned among the Parcels to which it pertains for the purposes of the assumption set forth in this Paragraph Section 3(ii) in a manner consistent with the provisions of the OPDDA. 14 Section 4. AssiF-,mnent and Assumption under the DA as to Parcels 1, 2, 3 and 4. (i) Seller hereby assigns, transfers and delivers to SR Associates all right, title and interest of Seller in and to, and all obligations under, the DA (excluding any indemnity obligation under the DA that arose or hereafter arises from an event occurring prior to conveyance of Parcels 1, 2, 3 and 4 to SR Associates), to the extent that such right, title, interest or obligations pertain to Parcels 1, 2, 3 and 4 or any one or more of them. The foregoing assignment includes, but is not limited to, all right, title and interest of Seller in and to all permits and approvals for the development or operation of Parcels 1, 2, 3 and 4 or any one or more of them which are referred to in the DA or which have otherwise been issued or granted with respect to Parcels 1, 2, 3 and 4 or any one or more of them by any governmental entity, quasi - governmental entity, public utility or private utility. (ii) SR Associates hereby accepts the assignment referred to in Paragraph Section 4(i), and assumes and agrees to perform all the obligations of the Developer (as defined in the DA) under the DA (excluding any indemnity obligation under the DA that arose or hereafter arises from an event occurring prior to conveyance of Parcels 1, 2, 3 and 4 to SR Associates), but only to the extent that such obligations pertain to Parcels 1, 2, 3 and 4 or any one or more of them. Where any such obligation pertains to more than one Parcel, such obligation shall be equitably apportioned among the Parcels to which it pertains for the purposes of the assumption set forth in this Paragraph Section 4(ii) in a manner consistent with the provisions of the DA. Section 5. Assip-nment and Assumption under the DA as to Parcels 5, 6 and 7. (i) Seller hereby assigns, transfers and delivers to SR Development all right, title and interest of Seller in and to, and all obligations under, the DA (excluding any indemnity obligation under the DA that arose or hereafter arises from an event occurring prior to conveyance of Parcels 5, 6 and 7 to SR Development), to the extent that such right, title, interest or obligations pertain to Parcels 5, 6 and 7 or any one or more of them. The foregoing assignment includes, but is not limited to, all right, title and interest of Seller in and to all permits and approvals for the development or operation of Parcels 5, 6 and 7 or any one or more of them which are referred to in the DA or which have otherwise been issued or granted with respect to Parcels 5, 6 and 7 or any one or more of them by any governmental entity, quasi -governmental entity, public utility or private utility. (ii) SR Development hereby accepts the assignment referred to in Paragraph Section 5(i), and assumes and agrees to perform all the obligations of the Developer under the DA (excluding any indemnity obligation under the DA that arose or hereafter arises from an event occurring prior to conveyance of Parcels 5, 6 and 7 to SR Development), but only to the extent that such obligations pertain to Parcels 5, 6 and 7 or any one or more of them. Where any such obligation pertains to more than one Parcel, such obligation shall be equitably apportioned among the Parcels to which it pertains for the purposes of the assumption set forth in this Paragraph Section 5(ii) in a manner consistent with the provisions of the DA. 15 Section 6. Assignment and Assumption under the DA as to Parcel 8. (i) Seller hereby assigns, transfers and delivers to SR Yard all right, title and interest of Seller in and to, and all obligations under, the DA (excluding any indemnity obligation under the DA that arose or hereafter arises from an event occurring prior to conveyance of Parcel 8 to SR Yard), to the extent that such right, title, interest or obligations pertain to Parcel 8. The foregoing assignment includes, but is not limited to, all right, title and interest of Seller in and to all permits and approvals for the development or operation of Parcel 8 which are referred to in the DA or which have otherwise been issued or granted with respect to Parcel 8 by any governmental entity, quasi -governmental entity, public utility or private utility. (ii) SR Yard hereby accepts the assignment referred to in Paragraph Section 6(i), and assumes and agrees to perform all the obligations of the Developer under the DA (excluding any indemnity obligation under the DA that arose or hereafter arises from an event occurring prior to conveyance of Parcel 8 to SR Yard), but only to the extent that such obligations pertain to Parcel 8. Where any such obligation pertains to more than one Parcel, such obligation shall be equitably apportioned among the Parcels to which it pertains for the purposes of the assumption set forth in this Paragraph Section 6(ii) in a manner consistent with the provisions of the DA. Section 7. AssiRmnents of Plans and Intangibles. (i) Subject to the rights of EOM pursuant to that certain "Right of First Offer Agreement," dated June , 2005, between SR Associates and EOM (the "SR Associates ROFO Agreement") and to the rights of certain permitted successors and assigns of EOM under the SR Associates ROFO Agreement, Seller hereby assigns, transfers and delivers to SR Associates all right, title and interest of Seller in and to all plans, specifications and designs for the development of Parcels 1, 2, 3 and 4, but only to the extent that Seller holds, as of the date of this Assignment, such right, title or interest. (ii) Seller hereby assigns, transfers and delivers to SR Development all right, title and interest of Seller in and to all plans, specifications and designs for the development of Parcels 5, 6 and 7, but only to the extent that Seller holds, as of the date of this Assignment, such right, title or interest. (iii) Seller hereby assigns, transfers and delivers to SR Yard all right, title and interest of Seller in and to all plans, specifications and designs for the development of Parcel 8, but only to the extent that Seller holds, as of the date of this Assignment, such right, title or interest. Section 8. Further Assurances. Seller and Buyers each agree to execute such other documents and perform such other acts as may be reasonably necessary or proper and usual to effect this Assignment. Section 9. Attornevs' Fees. If there is any legal action or proceeding between Seller and any one or more of the Buyers arising from or based on this Assignment, the unsuccessful party to such action or proceeding shall pay to the prevailing party all costs and expenses, including, without limitation, reasonable attorneys' fees and disbursements, incurred by such 16 prevailing party in such action or proceeding and in any appeal in connection therewith. If such prevailing party recovers a judgment in any such action, proceeding or appeal, such costs, expenses and attorneys' fees and disbursements shall be included in and as part of such judgment. Section 10. Governing Law. This Assignment shall be governed by and construed in accordance with the laws of the State of California. Section 11. Successors and Assigns. This Assignment shall be binding upon and shall inure to the benefit of Seller and Buyers and their respective successors and assigns. IN WITNESS WHEREOF, Seller and Buyers have executed this Assignment as of the date first hereinabove written. [SIGNATURE PAGE FOLLOWS] 17 SELLER: CA -SAN RAFAEL CORPORATE CENTER LIMITED PARTNERSHIP, a Delaware limited partnership By: EOM GP, L.L.C., a Delaware limited liability company, its general partner By: Equity Office Management, L.L.C., a Delaware limited liability company, its non-member manager Name: Title: SR ASSOCIATES: SAN RAFAEL ASSOCIATES NF L.P., a Delaware limited partnership ff-H Name: Title: SR DEVELOPMENT: SAN RAFAEL DEVELOPMENT NF L.P., a Delaware limited partnership Name: Title: [Signatures continued on next page] 18 SR YARD: SAN RAFAEL YARD NF L.P., a Delaware limited partnership Name: Title: 19 STATE OF ) )ss COUNTY OF ) On , 2005, before me, , a Notary Public in and for the State of , personally appeared , personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged to me that he or she executed the within instrument in his or her authorized capacity and that, by his or her signature on the within instrument, the person or entity upon behalf of which he or she acted executed the within instrument. WITNESS my hand and official seal. Signature (SEAL) 20 STATE OF ) )ss COUNTY OF ) On , 2005, before me, , a Notary Public in and for the State of , personally appeared , personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged to me that he or she executed the within instrument in his or her authorized capacity and that, by his or her signature on the within instrument, the -person or entity upon behalf of which he or she acted executed the within instrument. WITNESS my hand and official seal. Signature (SEAL) 21 STATE OF ) )ss COUNTY OF ) On , 2005, before me, , a Notary Public in and for the State of , personally appeared , personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged to me that he or she executed the within instrument in his or her authorized capacity and that, by his or her signature on the within instrument, theperson or entity upon behalf of which he or she acted executed the within instrument. WITNESS my hand and official seal. Signature (SEAL) STATE OF ) )ss COUNTY OF ) On , 2005, before me, , a Notary Public in and for the State of , personally appeared , personally known to me (or provided to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument, and acknowledged to me that he or she executed the within instrument in his or her authorized capacity and that, by his or her signature on the within instrument, the person or entity upon behalf of which he or she acted executed the within instrument. WITNESS my hand and official seal. Signature (SEAL) 23 EXHIBIT A (To Exhibit D to Consent and Agreement) LEGAL DESCRIPTION OF REAL PROPERTY PARCEL ONE: PARCELS 1 THROUGH 8, INCLUSIVE, AS SHOWN UPON THAT CERTAIN MAP ENTITLED, "FINAL MAP BEING A SUBDIVISION OF THE LANDS OF SAN RAFAEL CORPORATE CENTER, LLC (SN #2000-049730), CITY OF SAN RAFAEL, COUNTY OF MARIN, CALIFORNIA", FILED FOR RECORD ON SEPTEMBER 27, 2002, IN VOLUME 2002 OF MAPS, AT PAGE 185, MARIN COUNTY RECORDS. EXCEPTING AND RESERVING THEREFROM THE RESERVATION OF ALL MINERALS AND MINERAL RIGHTS, INTERESTS AND ROYALTIES, INCLUDING, WITHOUT LIMITING THE GENERALITY THEREOF, OIL, GAS AND OTHER HYDROCARBON SUBSTANCES, AS WELL AS METALLIC OR OTHER SOLID MINERALS, IN AND UNDER THE PROPERTY, HOWEVER, GRANTOR OR ITS SUCCESSORS AND ASSIGNS, SHALL NOT HAVE THE RIGHT FOR ANY PURPOSE WHATSOEVER TO ENTER UPON, INTO, OR THROUGH THE SURFACE OF THE PROPERTY IN CONNECTION THEREWITH, AS CONTAINED IN THE DEED FROM SOUTHERN PACIFIC TRANSPORTATION COMPANY, A DELAWARE CORPORATION TO SAN RAFAEL REDEVELOPMENT AGENCY, A BODY CORPORATE AND POLITIC OF THE STATE OF CALIFORNIA, RECORDED OCTOBER 30, 1997 AS RECORDER'S SERIAL NO. 97- 062019, MARIN COUNTY RECORDS. PARCEL TWO: AN EASEMENT FOR THE PURPOSES OF CONSTRUCTING, INSTALLING, REPAIRING, REPLACING AND MAINTAINING A PEDESTRIAN PATHWAY, IRRIGATION IMPROVEMENTS, FENCING AND LANDSCAPING AS SET FORTH IN THAT CERTAIN AGREEMENT FOR CITY OF SAN RAFAEL GRANT OF ACCESS AND MAINTENANCE EASEMENT TO SAN RAFAEL CORPORATE CENTER, LLC, BY AND BETWEEN THE CITY OF SAN RAFAEL AND SAN RAFAEL CORPORATE CENTER, LLC, RECORDED MARCH 7, 2002 AS RECORDER'S SERIAL NO. 2002-0018155, MARIN COUNTY RECORDS, DESCRIBED AS FOLLOWS: COMMENCING AT A POINT ON THE SOUTHERLY LINE OF THE 20 FOOT WIDE P.G.&E. SLURRY WALL EASEMENT AS DESCRIBED IN THE DOCUMENT RECORDED IN SERIAL NUMBER 98-033514, MARIN COUNTY RECORDS, SAID POINT ALSO BEING A POINT ON THE EASTERLY LINE OF LINDARO STREET (66' WIDE); THENCE FROM SAID POINT OF COMMENCEMENT, ALONG THE SOUTHERLY LINE OF SAID EASEMENT (SN #98-033514), SOUTH 76° 44' 52" EAST, 70.78 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 84° 17' 14" EAST, 32.99 FEET; 24 THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 79° 31' 32" EAST, 111.03 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, SOUTH 760 52' 26" EAST, 105.29 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 870 55' 06" EAST, 107.97 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 62° 01' 36" EAST, 34.81 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 46° 27' 46" EAST, 25.64 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 330 08' 08" EAST, 15.06; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 190 37' 58" EAST, 6.33 FEET TO THE TRUE POINT OF BEGINNING; THENCE FROM SAID TRUE POINT OF BEGINNING, CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 190 37' 58" EAST, 33.23 FEET; THENCE CONTINUING ALONG SAID SOUTHERLY LINE, NORTH 00 14' 58" EAST, 8.68 FEET; THENCE SOUTH 730 54' 20" EAST, 35.52 FEET; THENCE SOUTH 670 08' 28" WEST, 17.16 FEET; THENCE SOUTHWESTERLY ALONG A TANGENT CURVE CONCAVE TO THE SOUTHEAST, WHOSE CENTER BEARS SOUTH 220 51' 32" EAST, WITH A RADIUS OF 70.00 FEET; THROUGH A CENTRAL ANGLE OF 310 14' 49", FOR AN ARC LENGTH OF 38.18 FEET TO THE TRUE POINT OF BEGINNING. APN: 013-012-35,34 & 013-021-50-55 25