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J <br /> <br /> 5/3/99 <br /> ORIGINAL <br /> <br /> RESOLUTION NO, 13615 <br /> <br /> RESOLUTION APPROVING ASSIGNMENT AND ASSUMPTION <br /> OF AMENDED DEVELOPMENT AGREEMENT <br /> <br /> (FLATIRONS FUNDING) <br /> <br /> WHEREAS, the City of Redwood City and Flatirons Funding, Limited <br />Partnership ("Flatirons") entered into a Development Agreement (the <br />"Development Agreement") approved by Ordinance 2114 adopted September <br />16, 1996, and recorded on November 8, 1996, in the official records of San <br />Mateo County, California, (the "Official Records"), to govern the development of <br />the property located adjacent to Shoreline Drive and Redwood Shores Parkway, <br />Redwood City, California (the "Property"); and <br /> <br /> WHEREAS, the Development Agreement was amended by the First <br />Amendment to Development Agreement approved by Council by Ordinance <br />2140 adopted April 6, 1998, and recorded on April 15, 1998, in the Official <br /> <br />Records and re-recorded on , 1998, in the Official Records; and <br /> <br /> WHEREAS, Flatirons and Electronic Arts Redwood, Inc. ("Assignors"), <br /> and Spieker Properties, L.P., a California limited partnership (Assignee"), are <br /> parties to an agreement for the purchase and sale of a portion of the Property, <br /> <br />dated (the "Purchase Agreement") whereby <br /> <br /> Assignors agree to sell to Assignee and Assignee agrees to purchase from <br /> Assignors, certain real property which consists of Zones 2 and 4 of the Property <br /> <br /> Reso-374 1 <br /> G:~shared~redwood~council <br /> FXS:rg <br /> 04/21/99 <br /> <br /> <br />