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6.B. - Page 24 <br /> WHEREAS, on ,2013, the City Council of the City of <br /> Redwood City declared and desEgnated the Historic Property a5 � historic landmark <br /> pursuant ta the terms and provisions of Chapter 40, HistorEC Presen+atian of the <br /> Redwood City Municipal Code; and <br /> WHEREAS, City and Owner, for their mutual benefit, now destre to enter into this <br /> Contrac# both to pratect and preserve the characteristic� of historical significance of tf�e <br /> Historic Property and to qualify the Historic Proper#y for an assessmer�t vf valuation <br /> pursuant to the provisfons of Chapter 3, of Part 2, of Division 1 of the California <br /> Revenue and Taxation Code. <br /> NOW, THEREFORE, CITY AND OWNER, in consideratian of the mutual <br /> covenants and conditions set forth herein, do hereby agree as folEaws: <br /> 1. Effec�i�e Date and Term of Contract. TF�e term of this Contract shall <br /> comr�ence on [date the Contract is signed] t�h� <br /> "efFecti�e date"), and shall expir� tEn years thereafiter, ta wit, on [one year from signed <br /> Contract date] . Each year upon the anniversary of the <br /> effecti�e date, the initial term will automatically be extended as provided in �aragraph 2. <br /> 2. Renewal. Each year on the anniversary af the effective date of this <br /> Contract (hereinafter referred to as #he "renewal date"), a year shail automatically be <br /> adcfed to the inifial term of this Contract unlsss sooner terminated in accardance with <br /> the provisions herein. <br /> 3. Notice of Nonrenewal. <br /> a) if either Owner or City desires in any year not to renew the <br /> Contract, that party shall senre writter� notice af nonrenewaf of the Contract or� <br /> REV: 11-12-13 VR <br /> �age 2 of 13 <br /> AT7Y/AGR.2013.222/842 Edgewood Road Mills Act Cortlract <br />