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RECORDING REQUESTED BY: <br /> CITY OF PLEASANTON <br /> When Recorded, Return to: <br /> Office of the City Clerk <br /> City of Pleasanton <br /> P.O. Box 520 <br /> Pleasanton, CA 94566 <br /> Recording requested pursuant to <br /> Government Code Sections <br /> 27383 & 6103-NO FEE <br /> SECOND AMENDMENT TO IN LIEU PARKING FEE AGREEMENT <br /> This Second Amendment to the In Lieu Parking Fee Agreement is made this day of <br /> August 2014 by and between Peak Property Main Street, LLC, a California Corporation ("Peak <br /> Property") and the City of Pleasanton, a municipal corporation("City"). <br /> RECITALS <br /> A. On September 5, 2005, the City and Peak Property entered into an In Lieu Parking <br /> Agreement ("Agreement") recorded in the Official Records of Alameda County <br /> (2006351896)to allow for the development of improvements at 600 Main Street, <br /> Pleasanton, California, subject to Peak Property's agreement to pay in lieu parking fees to <br /> offset parking demand created by the development which could not be accommodated on <br /> the property. <br /> B. On February 23, 2009, the parties entered into a First Amendment to In Lieu Parking Fee <br /> Agreement("First Amendment") recorded in the Official Records of Alameda County <br /> (2009083440) for the purpose of extending the time by which Peak Property had to make <br /> payments under the Agreement and modifying the timing of those payments. <br /> C. On March 18, 2010,the City Manager for the City of Pleasanton notified Peak Property <br /> in writing that the City would further defer payment of the parking in lieu fees. <br /> D. Due to the challenging economic climate since 2006 and the difficulty in finding tenants <br /> to occupy all of the leasable space, Peak Property has never made a payment to the City. <br /> With the property fully leased and the economic climate improving, the parties now seek <br /> to further modify the terms of the Agreement by entering into this Second Amendment to <br /> In Lieu Parking Fee Agreement ("Second Amendment"). <br /> E. Peak Property's initial obligation to the City was for$140,000. The City has agreed to <br /> give Peak Property certain credits against this obligation. <br /> F. Specifically, the City will credit Peak Property $39,000 for money that Peak Property <br /> paid to Wayne Rasmussen to manage the project through the planning process. The City <br /> has also agreed to credit Peak Property $28,500 as it provided a benefit to the community <br /> by restoring the historic "Kolln Hardware" building. <br /> 1 <br />