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AK:mg 06/20/95 (003/40 <br /> <br /> 0 R I G I N A L 6/26/95 <br /> RESOLUTION NO. 12507 <br /> <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br /> CITY APPROVING AND AUTHORIZING EXECUTION OF THE THIRD <br /> AMENDMENT OF THE DISPOSITION AND DEVELOPMENT AGREEMENT <br /> FOR PHASE I OF THE SEQUOIA STATION PROJECT <br /> <br /> WHEREAS, the Redevelopment Agency of the City of Redwood <br />City, the City of Redwood City and Sequoia Station Developers, <br />Inc., a California corporation, entered into that certain <br />Disposition and Development Agreement for the Sequoia Station <br />Project dated as of April 10, 1990 (as amended to date, the <br />"Phase I DDA") with respect to the development of the Project as <br />defined and described in the Phase I DDA; and <br /> <br /> WHEREAS, Sequoia Station Developers, Inc. assigned its <br />interest in and to the Phase I DDA to the Developer by an <br />assignment dated March 9, 1992, and the Agency and the City <br />approved such assignment in accordance with the provisions of the <br />Phase I DDA; and <br /> <br /> WHEREAS, the Project Site covered by the Phase I DDA has <br /> <br />been assembled and the Project has been constructed by the <br />Developer and placed in operation, and the Developer has <br />requested from the Agency the issuance of a Certificate and <br /> <br /> Completion; and <br /> <br /> WHEREAS, the Agency, the City and Developer have prepared a <br /> Third Amendment to the Phase I DDA ("Third Amendment") in order <br /> to set forth all of the remaining rights and duties of each of <br /> the parties to the Phase I DDA with respect to Phase I of the <br /> Project; and <br /> <br /> WHEREAS, the Third Amendment has been presented to and <br /> <br /> <br />