Agmt08 Sares Regis Group of Northern California, L.P.

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r _ ��,�p ��. � u u�r°i' AGREEMENT FOR DUE DILIGENCE COORDINATION SERVICES (SARES REGIS GROUP OF NORTHERN CALIFORNIA, L.P.) THIS AGREEMENT is made and entered into as of the 6th day of November, 2008, by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California ("City"), and SARES REGIS GROUP OF NORTHERN CALIFORNIA, L.P., a California Limited Partnership ("Consultant") (collectively, the "Parties"). RECITALS A. City requires the professional services of a Real Estate Developer that is experienced in Due Diligence Coordination relating to the acquisition and development of real property. B. Consultant has the necessary experience in providing professional services and advice related to Due Diligence Coordination. City is pursuing an opportunity to purchase certain reat property consisting of approximately 9.5 acres of land commonly referred to as 1402-1450 Maple Street in the City of Redwood City, California (the "Property"). C. Selection of Consultant is expected to achieve the desired results in an expedited fashion. D. Consultant has submitted a proposal to City and has affirmed its willingness and ability to perform such work. NOW, THEREFORE, in consideration of these recitals and the mutual covenants contained herein, the Parties agree as follows: 1. Scope of Work. City retains Consultant to perform, and Consultant agrees to render, those services (the "Services") that are defined in attached Exhibit "A," which is incorporated by this reference in accordance with this Agreement's terms and conditions. 2. Standard of PerFormance. While perForming the Services, Consultant will exercise the reasonable professional care and skill customarily exercised by reputable members of Consultant's profession practicing in the Metropolitan Northern California Area, and will use reasonable diligence and best judgment while exercising its professional skill and expertise. 3. Term. Unless earlier terminated, the term of this Agreement will be effective for a period of 26 days from the date first above written. The City Manager may amend the Agreement to extend it for 1 additional 1-month period or parts thereof in an amount not to exceed Twenty Thousand dollars ($20,000) per month, such amount to be prorated if the extension period is less than one full month. Extensions will be based upon a Agreement over$10K � City Attorney Approved Version 111803 Sares Regis Services Agreement 11.06.08 v.2