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6.3B <br /> Page 4 <br /> RESOLUTION NO. <br /> RESOLUTION �F THE CITY COUNCIL OF THE CITY OF REDW40D <br /> CITY APPROVING AND AUTHaR1Z1NG THE �JCECUTiON OF AN <br /> ASSIGNM�NT AND ASSUMPTION AGREEMENT BETWEEN THE <br /> REDEVELOPMENT AGENCY OF TME CITY OF REDWt?OD CITY, TME <br /> CITY OF REDWOOD CITY, 4N BROADWAY REDWODD ClTY, L.LC, <br /> AND ON BROADWAY INVESTORS, LLC <br /> WHEREAS, pursuant to #he California Community Rede�elopment �.aw (Hea[th <br /> and Safety Code Section 33000 et seq.), the Redeveiopment Agency of the C'rty of <br /> Redwood City (the "�qenc�"} is carrying out the Redevelopment Plan (the <br /> "Redevelopment Pian"} for the Redevetopment Project No. 2 {the "Redevelopment <br /> Project"); and <br /> WHEREAS, On January 8, 2003, the City, Agency and BHV Innisfree Ventures !, <br /> I.LC, a Caii#omia iimited iiability company, ("BHV"} entered into that certain Amended <br /> and Res#ated Disposition and Devefopmen# Agreement for a Downtown Retail-Ginema <br /> and Parlcing Project (the "Originai DDAfl), as amended by the First [mplementation <br /> Agreement, dated February 24, 2003 and the Second Implementation Agreement, <br /> dated September 2�, 2003 (ali collectively re#erred #o herein as the "DDA"}; and <br /> WHEREAS, City, Agency, BHV and On Broadway Redwood City, LLC ("(�BRC") <br /> entered into an Assignment and Assumption Agreement, dated May 4, 2�04, pursuant <br /> to wfiich BHV assigned to OBRC and OBRC assumed atl of BHV's rights and <br /> obligations in the Project Site and in the DDA; and <br /> WHEREAS, OBRC now desires to assign its rights and abliga#ions under the <br /> DDA and certain related agreemerrts to 4n Broadway Investors, LLC, a Delaware <br /> limited liabili#y company, ("OBI") in which RAR2-Broadway at Redwood Crty- C/�, Inc., a <br /> Maryland corpora�on ("RAR2"}, is the managing member and BHV I On Broadway, <br /> LLC, � Delaware limi#ed fiabili#y company("BHV 1"), is a devetoper member; and <br /> WH�REAS, pursuant to the DDA, certain other agreements were errtered into <br /> including, hu# not limited to, (i) the Construction and Reimbursement Agreement fo� <br /> ATTYI�2ES01RES0,1648 <br /> 090606 <br /> 1 <br />