SECOND AMENDMENT TO EXCLUSIVE NEGOTIATING AGREEMENT
GRIFFIN/SWINERTON, LLC
This SECOND AMENDMENT TO THE EXCLUSIVE NEGOTIATING AGREEMENT ("Second Amendment") is dated as of this day of March, 2022, by and between the CITY OF RIVERSIDE, a California charter city and municipal corporation ("City"), and GRIFFIN/SWINERTON, LLC, a Delaware limited liability company ("Developer").
RECITALS
A. The City and Developer entered into an Exclusive Negotiating Agreement, dated September 23, 2019 ("ENA"), whereby the City and Developer would exclusively negotiate the terms and conditions for the public-private partnership (P3) development of certain City-owned property located at the corner of Market and Third Streets and Fifth and Orange Streets for convention center expansion, adjacent parking structure, events plaza, and related site improvements.
B. The City and Developer entered into a First Amendment to Exclusive Negotiating Agreement, dated September 14, 2021, extending the term of the ENA to March 22, 2022.
C. The City and Developer desire to extend the term of the ENA to December 31, 2024.
NOW, THEREFORE, the parties hereby agree as follows:
1. Section 1.2 is hereby amended in its entirety as follows:
"1.2 Term. The term of this ENA began on September 23, 2019 and shall expire on September 22, 2022, with no lapse in term. The term may be unilaterally extended, in six month increments, by the City, with the last extension to expire on December 24, 2024.
The City may exercise such extension by providing written notice to Developer within 30 days of expiration of the then-current term. At or prior to the termination or expiration of the ENA, the City and Developer may enter the Agreements that would include the planning, design, related entitlements and financing of the Project, as well as City Council approval of the Agreements. Approval to enter into Agreements is not guaranteed. This ENA may be earlier terminated pursuant to Section 8 herein."
2. All other terms and conditions of the ENA between the parties, which are not inconsistent with the terms of this Second Amendment, shall remain in full force and effect as if fully set forth herein.
1 IN WITNESS WHEREOF, the parties have executed this Second Amendment on the date and year first above written.
CITY OF RIVERSIDE DEVELOPER
GRIFFIN/SWINERTON, LLC,
a Delaware limited liability company
By:
City Manager
Printed Name: ROGER TORRIERO
Its: PRINCIPAL
Attest to: By Far Crankl
Printed Name: KORIN CRAWFURD
By:_
City Clerk Its:_E. V.P:
Approved as to form:
Susan Wha
By:_
Assistant City Attorney
IIRc-citylawicycom\WPDocs\D010\P033\00628104.docx
19-0551.4 SDW 1/25/22
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