Agmt20 Redwood City Improvement Association-CBID Operating Agreement

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REV: 12-15-23 VR AMENDMENT NO. 1 TO MANAGEMENT AND DISBURSEMENT AGREEEMENT BY AND BETWEEN CITY OF REDWOOD CITY AND REDWOOD CITY IMPROVEMENT ASSOCIATION This Amendment No. 1 (the “Amendment No. 1”) is entered into and effective as of January 1, 2024 by and between the City of Redwood City, a charter city and municipal corporation of the State of California (“City”), and Redwood City Improvement Association, a California Non-Profit Public Benefit Corporation (“RCIA”) (collectively, the “Parties”). RECITALS A. The Parties previously executed that certain Management and Disbursement Agreement, dated as of July 28, 2020, (the “Original Agreement”) (the Original Agreement and this Amendment No. 1 are collectively known as the “Agreement”). B. The Parties have negotiated and agreed to the terms and conditions set forth in this Amendment No. 1. NOW, THEREFORE, in consideration of these recitals and the mutual covenants contained herein, the Parties agree as follows: 1. Unless terminated earlier, the term of this Amendment No. 1 will be a period of Five Years from the effective date of this Amendment No. 1, beginning January 1, 2024 and terminating on December 31, 2029. Including this Amendment No. 1, the total term of this Agreement is Eight Years and Six Months from the Effective Date of this Agreement. 2. All other provisions of the Agreement will remain in full force and effect. 3. All requisite insurance policies to be maintained by RCIA pursuant to the Agreement will include coverage for this Amendment No. 1. 4. The individuals executing this Amendment No. 1 and the instruments referenced in it on behalf of RCIA each represent and warrant that they have the legal power, right and actual authority to bind RCIA to the terms and conditions of this Amendment No. 1. 5. If all Parties agree, electronic signatures may be used in place of original signatures on this Amendment No. 1. Each Party intends to be bound by the signatures on the electronic document, is aware that the other Parties will rely on the electronic signatures, and hereby waives any defenses to the enforcement of the terms of this Amendment No. 1 based on the use of an electronic signature. After all Parties agree to the use of electronic signatures, all Parties must sign the document electronically. ATTY/AGR.2023/Amend. No.1/Redwood City Improvment Association (CBID OPERATING AGREEMENT) (Page 1 of 2)