Agmt17 Successor Agency to the Redwod City Redevelopment Agency

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ORIGINAL RESCISSION OF PARTIAL ASSIGNMENT AGREEMENT (Courthouse Square) THIS RESCISSION OF PARTIAL ASSIGNMENT AGREEMENT (this "Agreement") is executed as of frau, J 2 , 2017 ("Effective Date") by and between the City of Redwood City, a charter city and municipal corporation ("City") and the Successor Agency to the Redwood City Redevelopment Agency, a public body, corporate and politic ("Successor Agency"). The City and the Successor Agency are collectively referred to herein as the "Parties." WHEREAS, pursuant to that certain Cooperative Agreement dated as of May 3, 2005, executed by and between the City and the County of San Mateo, a political subdivision of the State of California ("County"), and recorded in the Official Records of San Mateo County on May 23, 2005 as Instrument No. 2005-083802 (as subsequently amended by an unrecorded First Amendment dated August 24, 2006, the "Cooperative Agreement"), the County has granted to the City an exclusive easement to construct certain improvements known as the "Courthouse Square Project" as more particularly described in the Cooperative Agreement, on the property located within the City in the area bounded by Broadway, Hamilton, Marshall and Middlefield Streets, known as the "Courthouse Block," and more particularly described in Exhibit A attached hereto and incorporated herein by reference (the "Courthouse Block"); and WHEREAS, the Cooperative Agreement provides that the Courthouse Block, including the reconstructed historic Courthouse and the open plaza known as the "Courthouse Square" must be preserved as a unique community asset and gathering place for the benefit of all residents of the County; and WHEREAS, the Cooperative Agreement provides that the Courthouse Square shall be used solely as a public plaza; and WHEREAS, pursuant to the Cooperative Agreement, the County granted to the City an exclusive easement to operate, maintain and use the Courthouse Square as an open plaza available for public use and community gathering for all of the residents of the County; and WHEREAS, the Cooperative Agreement permits the City to enter into licenses with vendors and activity sponsors to further the use of the Courthouse Square as a community gathering place; and WHEREAS, pursuant to that certain unrecorded Partial Assignment and Assumption Agreement of Cooperative Agreement Between the County of San Mateo and the City of Redwood City (the "Partial Assignment Agreement") dated as of June 26, 2007, and executed by and between the City and the Redwood City Redevelopment Agency (the "Redevelopment Agency"), the City assigned to the Redevelopment Agency the City's easement interest in the Concession Spaces described in Exhibit B attached hereto and incorporated herein (the "Concession Areas"); and WHEREAS, pursuant to Resolution Nos. 15141 and 15164, adopted by the City Council of the City of Redwood City on August 22, 2011 and January 23, 2012 respectively, the City ATTY/AGR/2016.092/RWC-COURTHOUSE RESCISSION OF ASSIGNMENT REV: 02-03-17 VR Page 1 of 4