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<br />. WHEREAS the City and ~he Cooperative desire to enter into a developers <br />agreement that names the Cooperative as the "Developer" of "Improvements" <br />defined as constructing and installing a 74 unit senior cooperative housing <br />project on the Property. <br />WHEREAS, on , 1999 the City Council adopted Resolution <br />No. _, wherein the City agreed to consent to the Amendment of the <br />Agreement. <br />NOW, THEREFORE, in consideration of the mutual covenants and <br />obligations herein contained, the Agreement is hereby amended in the following <br /> <br />. <br /> <br />. <br /> <br />respects. <br /> <br />I. The First Amendment to the Developers Agreement dated as of February <br />15, 1999 is hereby rescinded and deleted in its entirety. <br />II. Paragraph A of the Recitals in the Agreement is deleted in its entirety and <br />the following is inserted in its place: <br />A. The Developer is the fee owner of certain real property legally <br />described as follows: <br />Lot 1, Block 1, Silverview Estates; Lot 2, Block 1, Silverview <br />Estates; and Lot 3, Block 1, Silverview Estates. <br />(collectively the "Property"). <br />III. The Agreement is amended by adding a new section, Section 3.11 as <br />follows: <br /> <br />3.11. The Recitals are incorporated into the provisions of this Agreement. <br /> <br />3 <br />