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WHEREAS, on ,2013, the City Council of the City of <br /> Redw�ood City declar+ed and designated the Historic Property as a historic landmack <br /> pursuarrt to the terms and provisions of Chapter 40, Historic Preservation of the <br /> Redwood City Muniapal Code; and <br /> WHEREAS, City and Owner, for their mutual benefit, now desi�e bo enter into this <br /> Contract both to protect and preserve the characteristics of historical sign�canoe of the <br /> Historic Property and to qualify the Historic Property for an assessment of valuation <br /> pursuant to the provisions of Chapter 3, of Part 2, of Division 1 of the Califomia <br /> Revenue and Ta�cation Code. <br /> NOW, THEREFORE, CITY AND OWNER, in consideration of the mutual <br /> oovenants and conditions set forth henain, do her�eby agree as follows: <br /> 1. Effective Date and Term of CoMract. The te�m of this Contract shali <br /> commence on [date the Contract is signedl (the <br /> °effective date"), and shall expire ten years thereafter, ta wit, on [one year from signed <br /> Contra�t datel . Each year upon the anniversary of the <br /> efFective date, the initial term will automatically be extended as provided in paragraph 2. <br /> 2. Renewal. Each year on the anniversary of the effective date of this <br /> Contract (hereinafter referred to as the "renewal date°}, a year shall automatically be <br /> added to the initial term of this Contract unless sooner terminated in acxordance with <br /> the provisions herein. <br /> 3. Notice�Nonrenewal. <br /> a) If either Owner or City desires in any year not to renew the <br /> Contract, that party shall serve writtert notice of nonrenewal of the Contract on <br /> REV:i1-12-13 VR <br /> Page 2 of 13 <br /> ATTY/AGR.2013.222/842 Edgewood Road Mills Ad Contract <br />