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AgdaPkt 2007-08-27
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AgdaPkt 2007-08-27
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Last modified
9/24/2013 12:59:10 PM
Creation date
8/23/2007 2:26:53 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Redevelopment Agency
Date
8/27/2007
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6.1A <br /> , Page 3 <br /> FIRST AMENDMENT TO I'ARKING FACILiTIES AGREEMENT <br /> TNIS�FIRST AMENDMENT TO PARKING FACI�ITIES AGREEMENT (this "Amended <br /> Agr�ement") is entered into this day of , 20�7 (the NEffective Date"), by and am4ng <br /> the CITY OF REDWOOD CITY, a charter city and municipal corporation (the "City"), and ON <br /> BROADWAY 1NVESTORS, LLC, a Delaware iimi�ed liability company (the "Developer"), the <br /> successor in interest to ON BR4ADWAY REDWOOD CITY, LLC, a California limited iiability <br /> company, and Buchanan Urban Envestors, LLC, a Caiifiornia iirnifed liabiiity campany <br /> {collectively, the "Parties"}, <br /> RECITALS <br /> A. On or about July 12, 2004, the Parties h�reto entered into the Parking Facilities <br /> Agreement {the "Griginai Agreement"). <br /> B. The Parties desire to amend certain provisions of the Original Agreement subject fo <br /> the folfowing: <br /> "Century Theatres, Inc. sha!! have the right at any time during the Term of the <br /> Parking Facilities Agreement to terminate this Amended Ag►'eement by providing the <br /> City with written natice of such terminafion and the reinstatement of the terms of the <br /> Original Agreement." <br /> C. All other terms and conditions of the Original Agreement which are not inconsistenf <br /> herewith shall remain in fulf force and effect. <br /> NOW, THEREFORE, fihe Parties hereto mutuafly agr�e: <br /> That paragraphs I-E, I-G, I-H, ll-C, 1I-G, III-B, III-D and ifl-E be am�nded to read as follows: <br /> !. ,lEF�'Ef2��N �C4RAGE <br /> E. Parkinq Rates for Peak Periods. <br /> Subject ta Sections I-F, I-G and I-H below, the hourly rate for use of the Jefferson <br /> Garage shall be two dollars and fifty cents ($2.50) per hour from 6:00 p.m, untif 11:00 p.m., <br /> Monday through Friday, and afl day on weekends and holidays (collecfivefy, "Jefferson Garage <br /> peak Periods"), prov[ded that such two dollars and fifty cents ($2.50) per hour minimurn charge <br /> shal! be adjusted by minimum incremants of$0.50 to compensate far adjustments in the <br /> Consumer Price Index, All Items, far the San Francisco-Oakland-San Jose Area, All Urban <br /> Consumers, published by the Bureau of Labar Sfa#istics of the United Sta#es Department of <br /> labor (1982-1984 eqUals 100j ("�PI"}, as n�ar� pariicularly described on Schedufe I attached <br /> hereto and made a part hereof. <br /> G. Parking for Patrons of Other Project Businesses. " <br /> Patrons of other Project businesses presenting vafidation shal! be entitled to receive free <br /> parking in the Jefferson Garage for a period not to exceed one and one/half (1.5) hours prior to <br /> presentation of such validation form at ail times. <br /> Atty/Agr/Amendlf'arking Facilities No. 1 <br /> 0724Q7 <br /> 1 <br /> � <br />
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