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I0. F-q <br /> <br /> AMENDMENT NO. 1 <br /> <br /> TO AGREEMENT FOR <br /> IMPROVEMENT OF ONE MAPLE STREET SUBDIVISION <br /> <br /> [IRVlNE APARTMENT COMMUNITIES - FRANKLIN STREET PROJECT] <br /> <br /> This Amendment No. 1 is entered into and effective as of the __day of <br /> November, 2002, amending the Agreement for Improvement of One Maple' Street <br /> Subdivision dated June 2, 2000 (the "Agreement"), by and between the City of <br /> Redwood City, Califomia ("City"), and Irvine Apartment Communities, L.P., a Delaware <br /> limited partnership ("Owner") (collectively, the "Parties"). <br /> <br /> RECITALS <br /> <br /> WHEREAS, the Agreement requires Owner to construct certain off-site public <br /> infrastructure improvements in the area in and around Owner's property located at One <br /> Maple Street; and <br /> <br /> WHEREAS, by separate Agreement with the City of Redwood City <br /> Redevelopment Agency ("Agency") Owner has agreed to construct certain additional <br /> public infrastructure improvements that are further described in the attached Exhibit "A" <br /> at the intersection of Lathrop and Maple Streets (the "Lathrop Improvements") and will <br /> be reimbursed for the Lathrop Improvement costs by the Agency, and; <br /> <br /> WHEREAS, to ensure that the Lathrop Improvements are completed pursuant to <br /> all City standards and regulations, City and Owner desire to amend the Agreement to <br /> include the Lathrop Improvements within the terms of the Agreement. <br /> <br /> NOW, THEREFORE, in consideration of these recitals and the mutual covenants <br />contained herein, the Parties agree as follows: <br /> <br /> 1. Owner will complete the Lathrop Improvements in the manner provided in <br /> the attached Exhibit A and pursuant to same terms and conditions of the <br /> Agreement. <br /> <br /> 2. All requisite insurance policies and bonds will be maintained by Owner <br /> pursuant to the Agreement, will include coverage for this Amendment. <br /> <br /> 3. All other provisions of the Agreement will remain in full force and effect. <br /> <br /> 4. In case of a conflict between the public infrastructure improvements <br /> contained in this Amendment and those contained in the Agreement, the <br /> public infrastructure improvements contained in this Amendment will <br /> prevail. <br /> <br />F:AttyAgr/Amendl .Irvineimp <br />102902 1 <br /> <br /> <br />