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<br />WHEREAS, pursuant to the DDA, certain other agreements were entered into <br />including, but not limited to, (i) the Construction and Reimbursement Agreement for <br />Downtown Underground Public Parking Facility, dated October 23, 2003, as amended <br />to date; (ii) the Construction and Reimbursement Agreement for Downtown <br />Retail/Cinema Streetscape, dated October 26, 2005, as amended to date; and (iii) the <br />Reciprocal Easement and Maintenance Agreement, dated July 12, 2004, as amended <br />to date (all collectively referred to herein as the : Related Agreements'); and <br /> <br />WHEREAS, as a condition to acquiring an interest in OBI, RAR2 has requested <br />the City's approval of RAR2 as a member of OBI. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br /> <br />REDWOOD CITY AS FOLLOWS: <br /> <br />Section 1. The City Council hereby approves RAR2 as the managing member <br />of OBI and further approves the Assignment and Assumption Agreement between the <br />City, Agency, OBRC and OBI in substantially the form on file with the City Clerk, which <br />Assignment and Assumption Agreement is incorporated herein by reference. The City <br />Manager and City Clerk are hereby authorized and directed to execute the Assignment <br />and Assumption Agreement on behalf of the City, subject to any minor clarifying and <br />technical changes as may be approved by City Attorney. The City Manager is further <br />authorized and directed to take such actions and execute such documents as may be <br />necessary to carry out the obligations of the City under the Assignment and Assumption <br />Agreement. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />A TTY IRESO/RESO.1646 <br />090606 <br /> <br />2 <br />