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7/13/98 <br /> <br /> ORIGINAL <br /> RESOLUTION NO. 13385 <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 TST Redwood, L.L.C. ("Assignee") are parties to an agreement for the <br />purchase and sale of a portion of the Property, dated February 25, 1998 (the <br />"Purchase Agreement") whereby Assignors agree to sell to Assignee and <br />Assignee agrees to purchase from Assignors, certain real property which <br /> <br /> Reso-374 1 <br /> G:~shared\redwood~cou ncil <br /> FXS:fs <br /> 07108/98 <br /> <br /> <br />