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<br />3 <br /> <br />and other agreements related to the Property pursuant to that Riverfront Assignment and <br />Assumption Agreement recorded under Snohomish County recording no. 201311180486. <br />Riverfront has subsequently assigned and Riverfront Phase 1, LLC, Riverfront Phase 2, LLC, <br />Riverfront Phase 3, LLC, Riverfront Phase 4, LLC, Riverfront Grocer, LLC and Riverfront <br />Theater, LLC have assumed rights, obligations and liabilities under the Development Agreement <br />as more particularly set forth in the Assignment Agreement. PNW Riverfront does not hold any <br />interest in the Property or under the Development Agreement. The parties now desire to remove <br />PNW Riverfront as a party to the Development Agreement <br /> <br /> <br />AGREEMENT <br />NOW THEREFORE, for and in consideration of the mutual promises as stated herein and <br />for other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, PNW, Riverfront, and the City hereby agree as follows: <br />1. Amendment of the Cinema Element Phase to the Anchor Food and Recreation (AFR) <br />Phase. <br />A. The Cinema Element Property is renamed the “Anchor Food and Recreation <br />Property” (or “AFR Property”) with no changes to the location or boundaries of such property. <br />The Cinema Phase is renamed the Anchor Food and Recreation Phase (or “AFR Phase”). The <br />Cinema use that was contemplated as part of the Cinema Phase is hereby replaced with an Anchor <br />Food and Recreation Use (or “AFR Use”). <br />1. An Anchor Food and Recreation (AFR) Use means an anchor establishment <br />with indoor and outdoor spaces covering a substantial majority of the AFR Property that provides <br />restaurant quality food and beverage service combined with active recreational options, such as, <br />for example, table tennis, pickleball, tennis, handball, golf, squash, volleyball, or racquetball. An <br />AFR Use does not include fitness centers or health spas. <br />2. . The revised Final Development Plan attached to this Addendum as <br />Exhibit A, is hereby approved by the City. <br />B. As defined in the Initial Addendum, the AFR Phase is one of the Remaining Phases. <br />Prior to the completion of the Third Phase Developer will complete the AFR Phase, which will <br />include construction of an AFR Use on the AFR Property. Drawings of the AFR Element are <br />attached as Exhibit B (“AFR Drawings”). Figure 11 and Figure 12 of the First Phase Drawings <br />that were attached as part of Exhibit 1 to the Second Amendment are hereby deleted. The AFR <br />Drawings shall also be incorporated into subsection I: Supplemental Examples of the Mixed Use <br />Design Guidelines that are Attachment G to the Second Amendment, as approved renderings for <br />the AFR Phase under such guidelines. <br />2. Amendment of Section 5.2: Developer Property – Use Restriction. The new Section <br />5.2.1.1 of the Second Amendment which was added by the Initial Addendum is hereby amended <br />to read as follows: <br />5.2.1.1 Anchor Food and Recreation Phase. Notwithstanding anything to the contrary in <br />this Agreement, the sole permitted use of the AFR Property prior to issuance of a Partial <br />Certificate of Completion for the AFR Phase is as follows: development and construction