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.r <br /> � <br /> � <br /> Property is attached hereto, marked as Exhibit "A," and is incorporated herein by this <br /> reference; and <br /> WHEREAS, on ��Cemin� � , 2014, the City Council of the City of Redwood City <br /> declared and designated the Historic Property as a historic landmark pursuant to the <br /> terms and provisions of Chapter 40, Historic Preservation of the Redwood City <br /> Municipal Code; and <br /> WHEREAS, City and Owner(s), for their mutual benefit, now desire to enter into <br /> this Contract both to protect and preserve the characteristics of historical significance of <br /> the Historic Property and to qualify the Historic Property for an assessment of valuation <br /> pursuant to the provisions of Chapter 3, of Part 2, of Division 1 of the California <br /> Revenue and Taxation Code. <br /> NOW, THEREFORE, CITY AND OWNER(S), in consideration of the mutual <br /> covenants and conditions set forth herein, do hereby agree as follows: <br /> 1. Effective Date and Term of Contract. The term of this Contract shall <br /> commence on Januarv 1, 2015 (the "effective date"), and shall expire ten years <br /> thereafter, to wit, on December 31. 2024. Each year upon the anniversary of the <br /> effective date, the initial term will automatically be extended as provided in paragraph 2. <br /> 2. Renewal. Each year on the anniversary of the effective date of this <br /> Contract (hereinafter referred to as the "renewal date"), a year shall automatically be <br /> added to the initial term of this Contract unless sooner terminated in accordance with <br /> the provisions herein. <br /> 3. Notice of Nonrenewal. <br /> ATTY/AGR/2014.198/-823 BLANDFORD BLVD MILLS ACT CONTRACT <br /> REV:10-01-14 VR <br /> Page 2 of 13 <br />