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6.18 Page 7 Section 1.01. Purposes of Agreement. The purpose of this Disposition and Development Agreement (the "A~reement") is to effectuate redevelopment within the boundaries of the City of Redwood City (the "City") by providing for the purchase and the redevelopment by the Developer of certain real property located withi~ duly eDt~bliohed Project Arca No 2 of the City and as indicated in the site map attached hereto as Exhibit "A" (the "Property"). The acceptance and the redevelopment of the Property by the Developer pursuant to this Agreement, and the fulfillment generally of the Agreement, are in the vital and best interests of the City, the Agency, and the health, safety, morals, and welfare of the City's residents, and are in accord with the public purposes and provisions of applicable federal, state and local laws and requirements. '!:.l'1~_~E~P~!:~_t::Y_._~.~. adj acent to but not located _"~i"t::}~in _a redevel<:2E~~.E..t::_ Qroject aE.'ea. Redevelopment law permits the expenditure ?_~.__""__E~S"~.v~J oI2m~.!.1_t::_____~ u~2:~___()_uJ:~_~.9-~____t::_h~_bounda"r i e s .._~.~__~ ,2 r~j e:::t area~_'2.~__~_t.~__purpc::s e.~.__<.2.:!__E~e.~.~E:,r i_:Q..9:-,-_ p ro t::~.s_t::_i.:E9 or expanding the ayaila~i.;h.~ of low- and mode~ate- ~.~.s::.2.~e b?~~~.~Sl."~_~t::~'li~ the City. Section 5. Section 1.02 of the DDA is hereby amended and shall read in its entirety as follows: Section 1.02. TheApplicabiLitv _____.?E. Redevelopment ~~~~. Thc Redevelopment rlan for the rrO] ect Areo. No. 2 (the "Redevelopment rlo.nn) "iJ.ClO approved ~nd ~dopted by the City Council of the City by duly ~dopted Ordin.::mce in o.ccordance withT~S -~E~E:'_~~_g!:. is subject to the provisions of the Community RedeveIopment"Law of the State of California (the "Community Redevelopment Law"). Thin .~reemcnt oho.ll be nubject to the provioionn of the Community Redevelopment ~ The Agency represents and warrants that the uses and improvements to be constructed on the Property (the "Project") in accordance with the Scope of Development attached hereto as Exhibit "B" comply with the provisions of the Community Redevelopment Law. Section 6. Section 2.02 of the DDA is hereby amended and shall read in its entirety as follows: Section 2.02. Agency Assistance and Conditions Precedent. 2