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ORIGINAL <br /> AMENDMENT NO. 5 TO LICENSE AGREEMENT BETWEEN <br /> THE CITY OF REDWOOD CITY <br /> AND <br /> PREMIA 550 OWNER LLC <br /> THIS AMENDMENT NO. 5 is entered into as of this S day of <br /> a/tober , 2017 (the "Effective Date"), amending the License Agreement by and <br /> between THE CITY OF REDWOOD CITY, a charter city and municipal corporation of <br /> the State of California ("CITY"), and PREMIA 550 OWNER LLC, a Delaware limited <br /> liability company ("LICENSEE"). <br /> RECITALS <br /> A. CITY and LICENSEE previously entered into that certain License <br /> Agreement dated December 15, 2015, ("Original License Agreement") allowing <br /> Licensee to use the City Property for construction worker vehicle parking of up to 40 <br /> spaces on the City Property. <br /> B . The Original License Agreement was amended by Amendments 1 , 2, 3, <br /> and 4 to License Agreement, dated May 21 , 2016, December 2, 2016, March 27, 2017, <br /> and July 25, 2017 respectively. (The Original License Agreement, Amendment 1 , <br /> Amendment 2 , Amendment 3, and Amendment 4 are correctively referred to herein as <br /> the "License Agreement". ) <br /> C. CITY has determined that providing for a specific number and clear <br /> allocation of spaces, to be delineated by the LICENSEE provides a common benefit to <br /> the Downtown area , while ensuring spaces are available for contractor employee use. <br /> D. LICENSEE understands and acknowledges that CITY is concurrently <br /> providing a license to others to use portions of the City Property that are not within the <br /> License Area (as further described in Section 1 below). The parties intend to revise the <br /> Exhibit identifying the License Area solely to update the name of another entity (DCI ) <br /> utilizing certain spaces on the City Property, which does not affect the location or <br /> number of spaces utilized by Licensee. <br /> E . The License granted by the License Agreement is scheduled to terminate <br /> as of September 30, 2017. <br /> F . CITY is willing to extend the term of the License Agreement on the terms <br /> set forth herein . <br /> Page 1 of 3 <br /> REV: 09-2747 PR <br /> ATTY/AGR.Amend No. 5 /PREMIA 550 ALLERTON/AMENDMENT 5/BRADFORD PARKING <br />