Agmt04 BHV Innisfree - On Broadway RWC Parking Facilities Agmt

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:y , � " ORIGIN�;a SECOND AMENDMENT TO PARKING FACILITIES AGREEMENT This S nd Amendment to Parking Fac'lities Agreement ("Second Amendment") is entered into this day of , 2013 ("Effective Date"), by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California ("Redwood City"), and ON BROADWAY INVESTORS, LLC, a Delaware limited liability company ("Developer") (collectively, the "Parties"), with Century Theatres, Inc. ("Century") as a third party beneficiary. RECITALS A. On or about July 12, 2004, the Parties entered into the Parking Facilities Agreement (the "Original Agreement"). B. On or about September 11, 2007, the Parties entered into the First Amendment to Parking Facilities Agreement ("First Amendment"). The Original Agreement, as amended by the First Amendment, is hereinafter referred to as the "Agreement." C. Under Section VI of the Agreement, the City agreed to maintain a minimum of One Thousand Eight Hundred Fifty (1,850) parking spaces within the Red Zone and Orange Zone. D. The City is preparing for the construction of the Block Two Parking Lot as a mixed- use retaiVcommercial and office project ("Crossing 900 Project"). The City is interested in keeping Middlefield open to two-way traffic during the construction phase of the Crossing 900 Project, but can only do so by temporarily removing eight (8) street parking spaces on Middlefield as shown on Exhibit "A" from the City's current street parking inventory, leaving the City with One Thousand Eight Hundred Forty Four (1,844) parking spaces within the Red and Orange Zones (six (6) parking spaces short of its Section VI obligations). E. The City has proposed to acquire the use of six (6) additional off-street parking spaces in the Fox Theatre Parking Lot for public parking purposes between the hours of 6:00 PM and 2:00 AM seven days a week, for the duration of the construction phase of the Crossing 900 Project. F. The Parties desire to amend the Agreement, as more fully set forth herein. AGREEMENT Now therefore, the Parties, for and in consideration of the mutual benefits, covenants and agreements set forth herein, agree as follows: 1. Recitals; Capitalized Terms. The foregoing recitals are incorporated by reference into this Second Amendment. Capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Agreement. ATTY/AGR/2013/AMENDMENTS/SECOND AMEND TO PARKING FACILITIES AGR REV:11-12-13 VR Page 1 of 4