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<br />(OD-~ <br /> <br />FIRST AMENDMENT TO AGREEMENT <br />for <br />EXCLUSIVE RIGHT TO NEGOTIATE <br /> <br />(Western Investment Real Estate Trust and The Innisfree Companies) <br /> <br />THIS AGREEMENT ("Agreement"), entered into this - day of <br /> <br />, 2000, by and between the REDEVELOPMENT AGENCY <br /> <br />OF THE CITY OF REDWOOD CITY, a public body corporate and politic <br /> <br />("Agency"), and Western Investment Real Estate Trust, a California Business <br /> <br />Trust and The Innisfree Companies, a California Corporation, jointly and <br /> <br />severally, (collectively, "Developers"); <br /> <br />Witnesseth: <br /> <br />WHEREAS, Agency entered into an Agreement for Exclusive Right to <br /> <br />Negotiate with Developers dated June 10, 1999 (the "Agreement"), regarding a <br /> <br />proposed redevelopment project commonly described as the Downtown Retail- <br /> <br />Cinema Project (the "Project"); and <br /> <br />WHEREAS, the term of the Agreement, as extended by the Agency's <br /> <br />Executive Director pursuant to paragraph 1 thereof, expires May 30, 2000; and <br /> <br />WHEREAS, an Environmental Impact Report is under preparation for the <br /> <br />Project pursuant to the California Environmental Quality Act (Pub. Resources <br /> <br />Code § 21000, et seq.; "CEQA"); and <br /> <br />ERN-003 <br />F:Sh\Sh\Rw\ComDev <br />DES:rg <br />05/16/00 <br /> <br />"'-_..........,-,.__.......__....._...._._........._-".._.~..~.__........_.... . <br />