AgdaPkt 2002-12-09 - Laserfiche WebLink

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�.�-��3 _ AMENDED AND itESTATED._ -• ; _ _ . DISPOSITION AND DEVELOPMENT AGREEMENT for DOWNTOWN RETAIL-CINEMA AND PARHING PROJECT � THIS AMENDED AND RESTATED AGREEMENf (this "Agecment'� is entaed into as of ; 2002, by and amoag the Redevelopment Agency of the City of Redwood City , Caiifomia (the "Agency��, the City of Redwood City (the "City'�, and BHV Innisfree Ventures I, LLC, a Califomia limited liability company, in which Cincma Square, LLC, a California limited liability company, and Blake Hunt Ventures I, LLC, a Califomia limited liability company, are the sole members ("Developer"). The effective date of this Agreement shall be the date on wlvch it is approved by the Board of Directors of the Agency (the "Ef�'ecrive Date'�. RECITALS WHEREAS, the Agency, the City and Developer previously, as of 7anuary 29, 2001, entered into that certain Disposition and Development Agreement for powntown Retail-Cinema- Office and Pazking Project (the "Initial AgreemenY�, w}rich became effective upon approval by the Boazd of Directors of the Agency on January 29, 2001; • -- WHEREAS, the parties hereto desire to modify the Initial Agreement to eliminate the office building and &ee-standing pazking structure components and to effect certain other modifications agreed upon by the pazties; and WHEREAS, the parties desire to implement their agreed-upon modificarions to the Initial Agreement by amending and restating such agreement as herein set forth, with the intenrion that this Agreement shall replace and supercede in its entirety the Initial Agreement. NOW, THEREFORE, the Agency, the City and Developer heteby agree as follows: Article 1 SUBJECT OF AGREEMENT §101 Definitions Attachment 1 hereto sets forth the definirions of certain words and terms intended for use in this Agreement. Whenever a word or term that is defined in Attachment 1 appeazs in the text of this Agreement with its initial letter or letters capitalized, the definition of that word or tertn set forth in Attachment 1 shall apply. For convenience, Attachment 1 also sets forth the respective section numbers where other words and terms aze defined, as to which the method of identification by the capitalizarion of initial letters also shall apply. §102 Purnose of A¢reement - The purpose of this Agreement is to effectuate the Redevelopment Plan by providing for the development of a portion of the Redevelopment Area and to pmvide for the effective 1 DOCSSFI :648942.4 9975-5 C14 I20502