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<br />ORIGINAL <br /> <br />AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND THE <br />REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY <br /> <br />This Agreement is made this 'l# day ~ 1998, by and between the City <br /> <br /> <br />of Redwood City, a municipal corporation of the State of California, and the Redevelopment <br /> <br />Agency of the City of Redwood City, an agency formed under the laws of the State of California. <br /> <br />RECITALS <br /> <br />A. <br /> <br />The City of Redwood City ("City") is currently the owner of certain real Bradford <br /> <br />Street Property (hereinafter referred to as the "Bradford Street Bradford Street Property"), located <br /> <br />within the City of Redwood City, County of San Mateo, State of California, described in Exhibit A, <br /> <br />attached hereto. <br /> <br />B. <br /> <br />The Redevelopment Agency of the City of Redwood City ("Agency") has requested <br /> <br />that the Bradford Street Bradford Street Property be transferred to Agency for the purpose of <br /> <br />exchanging the Bradford Street Property for certain real property owned by the Redwood City <br /> <br />Elementary School District, a public school district in the County of San Mateo ("District") and <br /> <br />located on Broadway Avenue, Redwood City, California (the "Broadway Avenue Property"). <br /> <br />C. <br /> <br />Agency desires to acquire the Broadway Avenue Property for the purpose of <br /> <br />redeveloping the Broadway A venue Property in the future. <br /> <br />D. <br /> <br />City proposes to convey the Bradford Street Property to Agency, and Agency <br /> <br />proposes to exchange the Bradford Street Property for the Broadway A venue Property pursuant to <br /> <br />an exchange agreement with District. <br /> <br />E. <br /> <br />The parties desire to enter into the Agreement setting forth the terms and conditions <br /> <br />upon which the conveyance of the Bradford Street Property to the Agency may be effectuated. <br />Agmt-193 <br />flsh/shlRC/Councii <br />FXS:rg <br />08/25/98 I <br />