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<br /> I
<br /> EX.HI1 C
<br /> PORTION OF EXECUTED SECOND'rERE�TTrCITYLERK)
<br /> (EXHIBITS ON FILE WITH CITY OF
<br /> SECOND AMENDMENT
<br /> TO
<br /> DEVELOPMENT AGREEMENT
<br /> This Second Amendment to Development Agreement(this'"Second na ;nervi")is dated
<br /> „� .° and is made and entered into by and among:
<br /> as of a. 2019 (the Eictie Dam ), "per') and
<br /> • , . a Washington limited liability •comp Y
<br /> QNT, L.L.0
<br /> •
<br /> C�Pte' INVESTMENT, L.L.C. ("River on"), a Washington.
<br /> itIVlt��E71�IT CORC[AL •
<br /> "Dewelone►•"),and(ii)the MY OF limited liability company(P and Riverfront,collectively, ".0 ")•
<br /> EVERETT,a municipal corporation of the State of Washington(the
<br /> RECITALS
<br /> corporation (•fes") and DM11
<br /> A. The City, OM Fsverett,Inc„ a Washington rPtion (",�� ,,) parties to the
<br /> Transfer Agent, LLC, a Delaware limited liability company ( areThDevelopment eioto the •,
<br /> fnrment lare�ment") the Dmplop Pad,
<br /> Development Agreement dated June 2, 3009 ("�
<br /> Agreement concerns the Riverfrorit Property,which includes the Landfill Pad,
<br /> and the Mill Property as defined in the Development Agreement. July5,2013,
<br /> B. Under thei iverf'iont Assignment and Assumption Agee dated u5,2 and
<br /> OM,OM inc.and QMIi.assigned to PNW,and PNW assumed all of therights,oas bgt therein,
<br /> liabilities of OM, OM Inc. and DMMI[i under the RiverfrontAgreements definedand .Assumption
<br /> including the Development Agreement. Under the Landfill Assignment
<br /> Agreement dated August 1,2013,Rtvetfront,formerly known as"RiverfrontCommerc ad under,
<br /> -assumed all of the rights,.obligations.,and 114hilities ofPNW with r e Rto the La d oder
<br /> the ltiverfront Agreements, including the Development Age Agreement
<br /> approximately 76.412+i= sores of land that remains subject to the Development es s 16 21t
<br /> (collectively,the"De4elot�er Praerty"),v,+hieh Developer Property
<br /> 55.7.3+f-acres,being the L•and.6il Pad;(2)and Lots 15,1'9,31,32B,and 33,
<br /> a , 3.5-usive,totalingvtotaliing app
<br /> and 3�5-3$,inclusive, approximately 16.31+1-acres.Rivexfront does.notown the Simpsen
<br /> Pad or the Mill Property. Agreement by entering
<br /> . C. The City,PNW and Riverfront amended Bement he l dament 3, b�F "Furst
<br /> into the First Amendment to the Development Agreement
<br /> dated
<br /> Aprilril and Development
<br /> Amen.'")for the purpose of revising the Preliminary Development
<br /> .Standards contained in theDcvetopment Agreementto conform to revised plans for development
<br /> ofas the Simps •
<br /> on
<br /> asPad and Mill Property prepared by PNW and Riverfront(referred to collectively •
<br /> "Polygon" in the First Amendment). Thee SeaondAmendment in theFirst Amendment affectis not intended to
<br /> :development of the Simpson Pad and Mill Property provided
<br /> D. The First Amendment at Recital D stated:"Polygon is still working on its plan for
<br /> the Landfii.Pad. Once thatwork is:complete,Polygon intends to seeka second amendment to the
<br /> Agreement, in order to implement its plan for the Landfill Pad?' This Second
<br /> Development
<br /> Amendment addresses the plan for development of the Landfill� Pad.t•and the City entered into the
<br /> B. Subsequent to the Firat.Amendment,PNW, o t e
<br /> Amended and Restated Property Disposition Agreement dated as of
<br /> (`vRestatedPDA"),
<br /> which replaced that certain Property Disposition Aereemsnt•eritered into on or
<br /> about February 2.1, 2007, a memorandum of which was -recorded under Snohomish County
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