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<br /> MODIFICATION OF SCHEDULE OF PERFORMANCE FOR <br /> AMENDED AND RESTATED DISPOSITION AND DEVELOPMENT AGREEMENT <br /> FOR DOWNTOWN RETAIL-CINEMA AND PARKING PROJECT <br /> This Modification of Schedule of Performance for Amended and Restated Disposition <br /> and Development Agreement for Downtown Retail-Cinema and Parking Project (this <br /> ~ .3 1.1 <br /> "Modification") is entered into as of the' day of November, 2004, by and among the <br /> REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, a public body, corporate <br /> and politic (the "Agency"), the CITY OF REDWOOD CITY, a charter city and municipal <br /> corporation (the "City") and ON BROADWAY REDWOOD CITY, LLC, a California limited liability <br /> company ("Developer"), in which BHV Innisfree Ventures I, LLC, a California limited liability <br /> company, and Buchanan Urban Investors, LLC, a California limited liability company, are the <br /> sole members, and is made with reference to the following facts: <br /> RECITALS <br /> A. On January 8, 2003, the City, the Agency and Developer's predecessor-in- <br /> interest, BHV Innisfree Ventures I, LLC, entered into that certain Amended and Restated <br /> Disposition and Development Agreement for Downtown Retail-Cinema and Parking Project (as <br /> amended prior to the date hereof, the "DDA"). Capitalized terms used but not defined herein <br /> shall have the meanings ascribed to them in the DDA. <br /> B. Section 103 of the DDA permits modifications to the Schedule of Performance <br /> mutually agreed upon in writing by the parties to the DDA. <br /> C. The parties hereto desire to so modify the Schedule of Performance. <br /> NOW THEREFORE, incorporating the above recitals and in consideration of the <br /> covenants and obligations set forth herein, the parties hereto agree as follows: <br /> 1. Item 26 of Attachment 4 (Schedule of Performance) is hereby deleted in its <br /> entirety and the following is hereby substituted in lieu thereof: <br /> 26 Developer completes project. Requests Certificate of May 1, 2006 <br /> Completion. <br /> 2. This Modification may be executed in counterparts, each of which shall be <br /> deemed an original, but all of which, together, shall constitute one and the same instrument. <br /> DOCSSFl :782031.1 <br /> 9975-5 C14 <br /> . -~.. ..-- <br />