Agmt90 DDA Sequoia Station - Laserfiche WebLink

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1. Consent to Assignment. Pursuant to Section 109 of the DDA, the Agency hereby consents to the assignment of Sequoia's interest in and to the DDA to Safeway and agrees to accept Safeway as the developer under the DDA from and after the operative date of this Amendment. All references to "Developer" in the DDA shall hereinafter be defined to mean Safeway. Developer's address shall be changed to: Safeway Inc. 47400 Kato Road Fremont, California 94538 Attn: David Zylstra Real Estate Director Northern California Division The Agency hereby forever releases and discharges Sequoia and David C. Irmer individually from any and all liability and obligations arising out of or in connection with the DDA, and agrees to look solely to Safeway for performance of such obligations. The Agency hereby represents and warrants to Safeway that as of March 16, 1992 no defaults exist under the DDA, and there are no circumstances which, with the giving of notice or expiration of any grace period, would constitute a default under the DDA. Sequoia and David C. Irmer, individually and collectively, hereby forever release and discharge the Agency and the City of Redwood City from any and all liability and obligations arising out of or in connection with the DDA, including but not limited to any claim for monies (such as the Good Faith Deposit) paid to or advanced to the Agency, as to which Sequoia and David C. Irmer henceforth shall look only to the terms of the Safeway Development Agreement. 2. Amendments to DDA. (a) Section 101. Section 101 of the DDA is hereby amended by deleting from Attachment No. 1 the following definitions: Gross Sales Proceeds Internal Rate of Return Net Operating Income Net Sales Proceeds Total Project Cost (b) Section 202. Section 202 of the DDA is hereby amended to read in its entirety as follows: "Parcels E and N (PR 345893 and PR 334975) will be conveyed to the Developer by the City, either directly or by K 6407L