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AGREEMENT REGARDING THE LOS ALTOS HILLS C-2 TRAIL PROJECT This Agreement Regarding the Los Altos Hills C-2 Trail Project(the "Agreement")is entered into by and between The Board of Trustees of The Leland Stanford Junior University, a body having corporate powers under the laws of the State of California("Stanford") and the Town of Los Altos Hills, a municipal corporation ("Town"). It is effective as of the date it is executed. RECITALS A. Under the terms of the Agreement for Trail Easements, Construction, Management and Maintenance and Grant of Trail Easements between Stanford and the County of Santa Clara (the"County"), executed by the County on January 3, 2006 (the"Trail Agreement"), Stanford is required to offer to fund improvements to an existing trail within Town, identified as the C-2 trail in the County's Trails Master Plan. This obligation is subject to certain terms and conditions specified in the Trail Agreement, B. In accordance with Section 4.c of the Trail Agreement, Stanford offered Town a choice of three funding mechanisms. Stanford then offered a fourth funding mechanism in a letter from Larry Horton to Carl Cahill, dated May 13, 2008. Town elected a slightly modified version of the fourth funding mechanism as set forth in this Agreement. This Agreement is intended to satisfy the condition in Section 4.d of the Trail Agreement which requires that the parties enter into a written agreement as a condition precedent to Stanford's funding obligation. C. Town will conduct an Initial Study and expects to prepare a Mitigated Negative Declaration. The environmental review process will be completed in compliance with the California Environmental Quality Act. The parties agree as follows: 1.0 The Project. The Los Altos Hills (C-2) Trail Project(the"Project") is a project consisting of the construction and improvement of a trail and other associated landscaping, as more particularly described in the plans and specifications attached as Exhibit A (the"Plans"). The Project will also include the mitigation measures required pursuant to the provisions of the California Environmental Quality Act(collectively, the"Mitigation Measures"). Town shall conduct the environmental review in accordance with the California Environmental Quality Act; upon completion, Town shall provide a summary of the Mitigation Measures to Stanford. Stanford shall reimburse Town up to $30,000 for the cost of the environmental review as part of the Reimbursable Costs in Section 2.0, below. If the total cost of the environmental review exceeds$30,000(as set forth in Exhibit B) or the total cost of the Mitigation Measures exceeds $20,000, the parties will meet and confer regarding the additional costs and if the parties are not able to agree on a cost allocation of the additional costs, then Stanford or the Town may terminate this Agreement in accordance with the terms of Section 12.1. l