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ATTY/RESO.0079/CC RESO SECOND AMENDMENT TO LEVEE AGREEMENT – EXHIBIT A REV: 10-15-25 VR Page 2 of 6 Contract”) for the City’s acquisition of the Levee Improvements following the satisfaction of the conditions specified in Section 15. Subsection 15(ii) specifies that the City “will disburse the Initial Acquisition Price Payment to the Owners in accordance with the terms of the Purchase Contract.” F.Section 1.3 of the Form Purchase Contract provides that the City (defined as “City” or “Buyer” in the Purchase Contract) shall pay the Initial Acquisition Price Payment to Met Life and HCP at the Closing of the City’s acquisition of the Levee Improvements, in accordance with the percentages specified in Section 1.3, “unless otherwise waived by Met Life and HCP.” G.The City commissioned the Seaport Center Community Facilities District Levee Repair and Replacement Plan dated June 25, 2024, prepared by BKF Engineers (“Levee Repair and Replacement Plan”). The Levee Repair and Replacement Plan recommends the installation within five years of additional rip rap along the Redwood Creek channel and across from the Redwood City Marina, identified as Item 13 and Item 9, respectively, in the Levee Repair and Replacement Plan, at a total estimated cost of $2,660,000 (Two Million, Six Hundred Sixty Thousand Sixty Dollars) (“Rip Rap Upgrades”), which equals or exceeds the total funds in the Maintenance District’s Maintenance Reserve account. H.On December 21, 2020, the City adopted Resolution No. 15928 entitled “A Resolution of the City Council of the City of Redwood City Declaring Its Intention to Dissolve Seaport Centre Maintenance District and Providing For Other Related Matters, Including Setting the Date of January 11, 2021 for a Public Hearing”, which among other matters declared the City’s intent to dissolve the Maintenance District and to deposit the Maintenance Reserve funds (defined as “Maintenance District Reserves” in the Resolution) into the CFD’s maintenance reserve fund. I.On January 11, 2021, the City adopted Resolution No. 15931 entitled “A Resolution of the City Council of the City of Redwood City Dissolving Seaport Centre Maintenance District and Providing for Other Related Matters”, which among other matters ordered the dissolution of the Maintenance District, effective June 30, 2021, or such later date determined by the City Council in order to collect any delinquent assessment installments, and ordered that any remaining funds in the Maintenance District Reserves on June 30, 2021 shall be transferred into one or more maintenance reserve funds to be established and held by the City as a result of forming the CFD to provide for the services to be funded by the CFD. J.Section 7 of Resolution No. 15900 approving the Levee Agreement, adopted at the October 26, 2020 City Council meeting, authorizes the City Manager or their designee, to make further minor conforming, technical or clarifying changes or revisions to the Levee Agreement as may be agreed to and approved by the City Attorney, which do not materially increase the obligations of the City under the Levee Agreement. K. On November 23, 2020, the City adopted Resolution No. 15915 entitled “A Resolution of the City Council of the City of Redwood City Forming City of Redwood City Community Facilities District No. 2020-1 (Seaport Centre/Seaport Plaza), and Approving Related Documents and Actions” (“Resolution of Formation”) , which among other matters established the CFD and provided for the levy of Special Taxes (as defined therein) according to the rate and method of apportionment of the Special Taxes (“Rate and Method”) attached to the Resolution of Formation as Exhibit B. L.On November 23, 2020, after an election of the qualified landowner electors in the CFD on the propositions of the levy of the Special Taxes in accordance with the Rate and Method, an annual appropriations limit and the issuance of bonds and other debt in the maximum aggregate principal amount of $25,000,000, the City Council adopted Resolution No. 15918, entitled “A Resolution of the City Council of the City of Redwood City Declaring Results of Special Election in City of Redwood City Community