CITY COUNCIL AGENDA PACKET - Laserfiche WebLink

Ordinance No. Page 6 of 6 5. Section 4.4 is hereby amended and restated as follows: 4.4 Architectural Review of Project. The City may apply the rules and regulations regarding architectural review, and objective design standards for any residential development incorporated into the Project, in effect in the City at the time the Developer applies for design review approval for any aspect of the Project, as long as applying these rules and regulations does not conflict with Developer’s rights under this Agreement to expand the Shopping Center by the number of square feet specified in this Agreement. 6. Section 15 is hereby amended and restated as follows: 15. Right to Assign, etc. Developer’s rights hereunder may be encumbered, sold or assigned in conjunction with the transfer, sale, assignment or financing of all or any portion of the Property at any time during the terms of this Agreement. If the proposed buyer or assignee is not an affiliate of Developer, then Developer may still assign its interest in the Property so long as Developer receives the City’s prior written consent. Upon the sale, transfer or assignment of Developer’s rights and interests under this Agreement, memorialized in an assignment and assumption agreement, Developer shall be released from its obligations pursuant to this Agreement with respect to the Property or portion thereof so transferred which arise subsequent to the effective date of the transfer. 7. Except as expressly modified by this Fifth Amendment, the City and Developer hereby ratify and confirm the terms and conditions of the Agreement which are fully incorporated herein by reference and shall continue in full force and effect. 8. This Fifth Amendment shall be effective as of the date the Agreement otherwise would have terminated and shall remain in effect until terminated on July 1, 2024. This Fifth Amendment may be executed in multiple counterparts, all of which taken together shall constitute one and the same instrument. This Fifth Amendment shall be duly recorded in the Official Records of Alameda County. IN WITNESS WHEREOF, the parties have executed this Fifth Amendment on the date affixed by their signature. "City" CITY OF PLEASANTON, a Municipal corporation of the State of California By: _____________________________ Gerry Beaudin City Manager Dated Executed: __________________ Attest: ________________________________ Jocelyn Kwong “Developer" STONERIDGE PROPERTIES LLC, a Delaware limited liability company, doing business in California as STONERIDGE ASSOCIATES, LLC By: SIMON-MILLS II, L.L.C., a Delaware limited liability company, its Managing Member By: _____________________________ Title: ____________________________ Date Executed:____________________ Page 24 of 270