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<br />ORIGINAL <br /> <br />AGREEMENT FOR DUE DILIGENCE COORDINATION SERVICES <br />(SARES REGIS GROUP OF NORTHERN CALIFORNIA, L.P.) <br /> <br />THIS AGREEMENT is made and entered into as of the 9th day of December, <br />2008, by and between the CITY OF REDWOOD CITY, a charter city and municipal <br />corporation of the State of California ("City"), and SARES REGIS GROUP OF <br />NORTHERN CALIFORNIA, L.P., a California Limited Partnership ("Consultant") <br />(collectively, the "Parties"). <br /> <br />RECITALS <br /> <br />A. City requires the professional services of a Real Estate Developer that is <br />experienced in Due Diligence Coordination relating to the acquisition and development <br />of real property. <br /> <br />B. Consultant has the necessary experience in providing professional <br />services and advice related to Due Diligence Coordination. City is pursuing an <br />opportunity to purchase certain real property consisting of approximately 0.5 acres of <br />land commonly referred to as 601 Brewster Avenue in the City of Redwood City, <br />California (the "Property"). <br /> <br />C. Selection of Consultant is expected to achieve the desired results in an <br />expedited fashion. <br /> <br />D. Consultant has submitted a proposal to City and has affirmed its <br />willingness and ability to perform such work. <br /> <br />NOW, THEREFORE, in consideration of these recitals and the mutual covenants <br />contained herein, the Parties agree as follows: <br /> <br />1. Scope of Work. City retains Consultant to perform, and Consultant agrees to <br />render, those services (the "Services") that are defined in attached Exhibit "A," which is <br />incorporated by this reference in accordance with this Agreement's terms and <br />conditions. <br /> <br />2. Standard of Performance. While performing the Services, Consultant will <br />exercise the reasonable professional care and skill customarily exercised by reputable <br />members of Consultant's profession practicing in the Metropolitan Northern California <br />Area, and will use reasonable diligence and best judgment while exercising its <br />professional skill and expertise. <br /> <br />3. Term. Unless earlier terminated, the term of this Agreement will be effective for a <br />period of 21 days from the date first above written. The City Manager may amend the <br />Agreement to extend it for 1 additional 1-month period or parts thereof in an amount not <br />to exceed Twenty Thousand dollars ($20,000) per month, such amount to be prorated if <br />the extension period is less than one full month. Extensions will be based upon a <br /> <br />Agreement over $1 OK 1 <br />City Attorney Approved Version 111803 <br />Sares Regis Services Agreement 11.06.08 v.2 <br />