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ORIGINAL - <br /> <br /> AMENDMENT NO. 1 <br /> <br /> TO AGREEMENT FOR <br /> IMPROVEMENT OF ONE MAPLE STREET SUBDIVISION <br /> <br /> [IRVINE APARTMENT COMMUNITIES - FRANKLIN STREET PROJECT] <br /> <br /> is Amendment No. 1 is entered into and effective as of the day of <br />No_y_ej3N~'- 2002, amending the Agreement for Improvement of One Maple Street <br />Subdivision dated June 2, 2000 (the "Agreement"), by and between the City of <br />Redwood City, California ("City"), and Irvine Apartment Communities, L.P., a Delaware <br />limited partnership ("Owner") (collectively, the "Parties"). <br /> <br /> RECITALS <br /> <br /> WHEREAS, the Agreement requires Owner to construct certain off-site public <br />infrastructure improvements in the area in and around Owner's property located at One <br />Maple Street; and <br /> <br /> WHEREAS, by separate Agreement with the City of Redwood City <br />Redevelopment Agency ("Agency") Owner has agreed to construct certain additional <br />public infrastructure improvements that are further described in the attached Exhibit "A" <br />at the intersection of Lathrop and Maple Streets (the "Lathrop Improvements") and will <br />be reimbursed for the Lathrop Improvement costs by the Agency, and; <br /> <br /> WHEREAS, to ensure that the Lathrop Improvements are completed pursuant to <br />all City standards and regulations, City and Owner desire to amend the Agreement to <br />include the Lathrop Improvements within the terms of the Agreement. <br /> <br /> NOW, THEREFORE, in consideration of these recitals and the mutual covenants <br />contained herein, the Parties agree as follows: <br /> <br /> 1. Owner will complete the Lathrop Improvements in the manner provided in <br /> the attached Exhibit A and pursuant to same terms and conditions of the <br /> Agreement. <br /> <br /> 2. All requisite insurance policies and bonds will be maintained by Owner <br /> pursuant to the Agreement, will include coverage for this Amendment. <br /> <br /> 3. All other provisions of the Agreement will remain in full force and effect. <br /> <br /> 4. In case of a conflict between the public infrastructure improvements <br /> contained in this Amendment and those contained in the Agreement, the <br /> public infrastructure improvements contained in this Amendment will <br /> prevail. <br /> <br />F:AttyAgdAmendl .Irvineimp 1 <br />102902 <br /> <br /> <br />