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<br />lP&Y <br /> <br />AGREEMENT FOR THE REIMBURSEMENT OF OFF-SITE <br />INFRASTRUCTURE IMPROVEMENTS <br /> <br />(IRVINE APARTMENT COMMUNITIES FRANKLIN STREET PROJECT) <br /> <br />THIS AGREEMENT FOR THE REIMBURSEMENT OF OFF-SITE <br />INFRASTRUCTURE IMPROVEMENTS (this II Agreement"), is entered into as <br /> <br />of -' 2000, by and between the REDEVELOPMENT AGENCY <br />OF THE CITY OF REDWOOD CITY, CALIFORNIA (the "Agency") and IRVINE <br />APARTMENT COMMUNITIES, loP., a Delaware limited partnership ("IAC"), <br /> <br />relating to the reimbursement of lAC's cost of construction and installation of <br />certain off-site infrastructure improvements as part or the Franklin Street Project. <br /> <br />RECITALS <br /> <br />WHEREAS, the AgPrlcy 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 />"lAC DDA"), which DDA has been amended by the First and Second <br /> <br />Amendment to DDA; and <br /> <br />WHEREAS, the Agency also entered into that certain "Disposition and <br />Development Agreement for Franklin Street Project" with Shea Homes Limited <br /> <br />Partnership, a California limited partnership ("Shea"), approved by the Agency <br />on September 13, 1999 by Redevelopment Resolution No. RD-99-31 and dated <br />October 28, 1999 (the "Shea DDA"), which DDA has been amended by the First <br />and Second Amendment of DDA and <br /> <br />-1- <br /> <br />Form dated: 6/19/00 <br />