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AGREEMENT FOR THE REIMBURSEMENT OF OFF-SITE <br /> I STRUCTVRE IMPROWMENTS <br /> <br /> (IRVINE APARTMENT COMMUNITIES FRANKLIN STREET PROJECT) <br /> <br /> THIS AGREEMENT FOR THE REIMBURSEMENT OF OFF-SITE <br /> INFRASTRUCTURE IMPROVEMENTS (this "Agreement"), is entered into as of <br /> <br /> d~ a.~b,~q, 20 y and between the REDEVELOPMENT AGENCY OF <br /> I <br /> / <br />THE CITY ~DWOOD CITY, CALIFORNIA (the "Agency") and IRVINE <br />APARTMENT COMMUNITIES, L.P., a Delaware limited partnership ("IAC"), <br />relating to the reimbursement of IAC's cost of construction and installation of certain <br />off-site infrastructure improvements as part of the Franklin Street Project. <br /> <br /> RECITALS <br /> <br /> WHEREAS, the Agency and IAC entered into that certain "Disposition .and <br />Development Agreement for Franklin Street Project", approved by the Agency on <br />August 10, 1999 by Redevelopment Resolution No. RD-99-30 (the "lAC DDA"), <br />which DDA has been amended by the First and Second Amendment to DDA; and <br /> <br /> WHEREAS, the Agency also entered into that certain "Disposition and <br />Development Agreement for Franklin Street Project" with Shea Homes Limited <br />Partnership, a California limited parmership CShea"), approved by the Agency on <br />September 13, 1999 by Redevelopment Resolution No. RD-99-31 and dated October <br />28, 1999 (the "Shea DDA"), which DDA has been amended by the First and Second <br />Amendment of DDA and <br /> <br /> WHEREAS, the Shea DDA and IAC DDA contemplated that IAC and Shea <br />would, by way of separate agreement between themselves, share in the cost of <br /> <br /> Form dated: 6/19/00 <br />C:\TEMP\IAC Reimbursement v.4 Clea copy.doc <br /> <br /> <br />