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Association has been invested with the power and duty to manage and operate a residential community on the Annexed Property. C. The SATV Property shall be governed by that certain Declaration of Covenants, Conditions, Restrictions and Reservation of Easements for Santiago Street Lofts, to be recorded in the Official Records of Orange County, as may be further supplemented or amended (collectively the "Declaration"). The Declaration shall establish upon the SATV Property a condominium community as defined in California Code Section 1351, and shall invest the Santiago Street Lofts Maintenance Corporation, a California nonprofit mutual benefit corporation (the "Association") with the power and duty to manage and operate a residential community on the SATV Property. D. City and SATV wish to provide maintenance obligations and to establish certain rights incidental to the public right-of-way ("ROW") within a portion of SA TV Property as shown on Exhibit "B", attached hereto and incorporated herein. NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 1. Maintenance Obliqations of ROW. (a) Association Maintenance Area. SATV shall have the affirmative obligation at all times to cause that portion of the ROW, as shown on Exhibit "B" ("Association Maintenance Areas ") and those improvements set forth below ("Association Maintained Improvements") to be maintained in a safe condition according to reasonable street and public right-of-way maintenance standards as set forth by the City. The costs of such maintenance shall be exclusively borne by SATV. Such Association Maintained Improvements shall include, but are not limited to the following: (b) Keeping the Association Maintenance Area free from debris and obstructions; (c) Repairing damage to the Association Maintenance Area due to the elements and ordinary wear; (d) Replacing as needed the enhanced paving and decorative surfaces within the Association Maintenance Area in accordance with the Declaration. (e) Maintain all frontage trees, tree grates and associated irrigation systems along the ROW. (f) Maintaining the concrete benches (other than those maintained by the Orange Country Transportation Agency), concrete landings and other structural elements within the ROW that extend out from the Condominium Buildings located on the SATV Property. 2. Citv Responsibilitv. Graffiti removal and weed abatement within the ROW shall be the responsibility of the City and the cost of such maintenance shall be borne by the City. The City shall be responsible for the maintenance of all street lights located in the ROW. F:\REAL\622\ 163691 0 1 \Grant Esmt & Main - City rv6.doc 5/26/2005