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WHEREAS, pursuant to Resolution No. 2012 -001, adopted by the City Council of the <br /> City of San Leandro on January 9. 2012. the City succeeded to the interests of the Agency by <br /> operation of law upon dissolution of the Agency on February I , 2012 pursuant to Assembly Bill <br /> x126. <br /> NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br /> which are hereby acknowledged, the Parties hereby agree as follows: <br /> 1. The Parties each acknowledge the truth of the foregoing recitals which are incorporated <br /> herein by this reference. <br /> 2. The City, acting in its capacity as Successor Agency to the dissolved Agency, hereby <br /> approves the conveyance of the Property from Batarse to McLellan, and hereby relinquishes any <br /> rights to approve any future sale, transfer. conveyance. assignment or lease of the Property or <br /> improvements located thereon, that may accrue to the City pursuant to Section 3 of that certain <br /> Grant Deed dated as of November 13. 2001 and recorded in the Official Records of Alameda <br /> County on November 14. 2001 as Instrument No. 2001444278 (the "Grant Decd "). <br /> 3. The Parties each acknowledge that the construction and development obligations <br /> described in the DDA have been satisfied. <br /> 4. The Parties each agree that the DDA is hereby terminated: provided however, the Parties <br /> each acknowledge and agree that all provisions of the DDA that relate to indemnification <br /> obligations and which expressly state that they survive termination of the DDA shall continue in <br /> full force and effect. <br /> 5. The Parties each agree that neither the City nor any other entity acting as successor to the <br /> Agency shall have any obligation to make payments of tax increment funds or any other <br /> payment pursuant to Section 1.03 of Part Two of the DDA or pursuant to any other provision of <br /> the DDA or the amendments thereto. <br /> 6. The City hereby acknowledges and agrees that as of the Effective Date, neither the City <br /> nor any other entity acting as successor to the Agency shall have any reversionary interest in the <br /> Property pursuant to the DDA, or any power of termination pursuant to the DDA or pursuant to <br /> Section 4 of the Grant Deed. <br /> ' 7. This Amendment may be executed in counterparts, each of which shall be an original and <br /> all of which taken together shall constitute one and the same instrument. <br /> SIGNATURES OIV FOLLOWING PAGE(S) <br /> -2- <br />