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- ORIGINAL <br /> <br /> AGREEMENT <br /> For <br /> EXCLUSIVE RIGHT TO NEGOTIATE <br /> (Western Investment Real Estate Trust and The Innisfree Companies) <br /> <br /> THIS AGREEMENT ("Agreement"), entered into this ~ day of <br /> <br /> ~_z~ _ , 199~, by and between the REDEVELOPMENT AGENCY <br />~: THE CITY OF REDWOOD CITY, a public body corporate and politic <br /> <br /> ("Agency"), and Western Investment Real Estate Trust, a California Business <br /> Trust and The Innisfree Companies, a California Corporation, jointly and <br /> Severally, (collectively, "Developers"); <br /> <br /> Witnesseth: <br /> <br /> WHEREAS, Developers propose to redevelop an area of the City of <br /> Redwood City ("City") more particularly shown on Exhibit "A", attached hereto <br /> and incorporated herein by reference, commonly described as the Downtown <br /> Retail-Cinema project area (the "Project Site") in pursuit of the objectives stated <br /> in City's General Plan and Redevelopment Plan for Redwood City <br /> Redevelopment Project No. 2, as the same exists upon the date hereof and may <br /> from time to time be amended; and <br /> <br /> WHEREAS, the Project Site is within an area of the City which has been <br /> designated as a redevelopment project area; and <br /> <br /> WHEREAS, Agency contacted all owners of property within the <br /> Project Site to ascertain if they desired to exercise their owner participation rights <br /> <br /> ERN-O02 <br /> F:Sh\Sh\Rw\ComDev <br /> DES: 05/12/99 <br /> DES:mge 05/17/99R <br /> <br /> <br />