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<br />ú>A -- 3 <br /> <br />SECOND AMENDMENT OF DISPOSITION AND DEVELOPMENT <br />AGREEMENT FOR FRANKLIN STREET PROJECT (lAC) <br /> <br />THIS SECOND AMENDMENT OF DISPOSITION AND <br />DEVELOPMENT AGREEMENT FOR THE FRANKLIN STREET PROJECT (lAC) <br /> <br />(this "Amendment") is entered into as of May 22, 2000, by and between the <br /> <br />REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, <br /> <br />CALIFORNIA (the "Agency") and IRVINE APARTMENT COMMUNITIES, LP, <br />a Delaware limited partnership ("IAC"). <br /> <br />WITNESSETH <br /> <br />WHEREAS, the Agency and lAC entered into that certain "Disposition <br />and Development Agreement for Franklin Street Project", approved by the <br /> <br />Agency on August 10, 1999 by Redevelopment Resolution No. RD-99-30 (the <br />"DDA"); and <br /> <br />WHEREAS, the DDA has been amended by the First Amendment to the <br />DDA, approved by the Agency on April 24, 2000; ë1!1d <br /> <br />WHEREAS, pursuant to Sections 1006 and 1007 of the DDA the Agency <br />and lAC desires to amend Attachment Section 508 of the DDA, which section is <br /> <br />captioned "Local, State and Federal Laws." <br /> <br />NOW, THEREFORE, the parties hereto agree as follows: <br /> <br />-1- <br /> <br />AK/DES:ak <br />Form dated: 5/15/00 <br /> <br />, .""""'---'."""---"'-""""""""'""""""""--"'-r----""'"--"'" ""., <br />