DocuSign Envelope ID: 80A1E2BF-8C14-4A62-8EFE-AF4A1DF708F6
FIRST AMENDMENT TO
EXCLUSIVE NEGOTIATION AGREEMENT
THIS FIRST AMENDMENT TỌ EXCLUSIVE NEGOTIATION AGREEMENT (the "First Amendment") is made effective as of _ April 28 2021 by and amongst the City of Alameda, a California municipal corporation ("City"), and Brookfield Bay Area Development Holdings LLC, a Delaware limited liability company ("Brookfield"') and Catellus Development Corp, a Delaware corporation ("Catellus") (individually and/or collectively, "Developer"), on the terms and provisions set forth below.
RECITALS
A. The City and the Developer entered into that certain Exclusive Negotiation Agréement effective as of October 6, 2020 (the "Original Agreement"), pursuant to which City granted Developer exclusive negotiating rights for the proposed transfer of certain real property located within the City of Alameda, State of California commonly referred to as the former Alameda Naval Air Station, now known as Alameda Point. The property that is subject to the Original Agreement as amended herein is the West Midway development area (the "Property"), as depicted in the Original Agreement, for the planned development of a mixed-use, mixed-income residential neighborhood with two- hundred and ninety-one (291) residential units and p to five hundred thousand square feet (500,000 square feet) of commercial space on the Property.
Pursuant to Section 4 of the Original Agreement, the parties allotted the initial six. (6) months of the Initial Term to negoțiate a proposed Term Sheet (as such terms are defined in the Original Agreement) for submittal to City Council for its consideration.
The parties have been negotiating in good faith; however, more time is needed to complete the Term Sheet.
C. City and Developer desire to amend the Original Agreement to confirm the Initial Term and extend the period for negotiating the Term Sheet, as more paiticularly set forth herein.
NOW, THEREFORE, in consideration of the foregoing, of the mutual promises of the parties hereto, and of other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties hereto, intending legally to be bound, agree as follows:
The Parties hereby acknowledge and agree that the Original Agreement was approved by City Council on October 6, 2020, and therefore, the Initial Term shall expire on April 6, 2022.
Pursuant to Section 4 of the Original Agreement, the City Manager hereby agrees to extend the period for the Parties to negotiate the Term Sheet to October 6, 2021. 1 DocuSign Envelope ID: 80A1E2BF-8C14-4A62-8EFE-AF4A1DF708F6 Except as otherwise specifically provided herein, all other terms and conditions of the Original Agreement shall remain in full force and effect and are hereby ratified and confirmed in all respects by the parties hereto.
This First Amendment and any amendments hereto may be executed in several counterparts, each of which shall be deemed to be an original copy, and all of which together shall constitite one agreement binding on all parties hereto, notwithstanding that all parties shall not have signed the same counterpart.
DocuSign Envelope ID: 80A1E2BF-8C14-4A62-8EFE-AF4A1DF708F6 IN WITNESS WHEREOF, the undersigned have executed this First Amendment as of the date first written above.
CITY:
CITY OF ALAMEDA,
a California municipal corporation
-DocuSigned.by
By: Eric levitt
Name: Ere LeVeR
Title: City Manager
APPROVED AS TO FORM:
Docusigned by:
By: 1. Aaron Duffy
Aaron Duffy 8564382443E...
• Title: Staff Attorney
DEVELOPER:
BROOKFIELD BAY AREA HOLDINGS LLC
a Delaware limited liability company
By: 4all
Name: och Rodon
Title: Presidecit
CATELLUS DEVELOPMENT CORP
a Delaware corporation
By:
Name:
Title:
DocuSign Envelope ID: 80A1E2BF-8C14-4A62-8EFE-AF4A1DF708F6 IN WITNESS. WHEREOF, the undersigned have executed this First Amendment as of the date first written above.
CITY:
CITY OF ALAMEDA,
a California municipal corporation
By:
Name: Eric Levitt
Title: City Manager
APPROVED AS TO FORM:
By:
Aaron Duffy
Title: Staff Attorney
DEVELOPER:
BROOKFIELD BAY AREA HOLDINGS LLC
a Delaware limited liability company
By:
Name:
Title:
CATELLUS DEVELOPMENT CORP
Name: Tom Marshal
Title: EVP