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FIRST AMENDMENT TO <br />REDEVELOPMENT AGREEMENT <br />THIS FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT <br />(this “First <br />Amendment”) is made and entered into as of this _____ day of ___________, 2010, by and <br />CITY OF UNIVERSITY CITY, MISSOURI <br />between the (the “City”), an incorporated <br />political subdivision of the State of Missouri, and <br />METROPOLITAN DEVELOPMENT- <br />, a Missouri limited liability company (the “Developer”). (All <br />KINGSLAND WALK, LLC <br />capitalized terms used but not otherwise defined herein shall have the meanings ascribed in <br />Article I <br /> of the herein-defined Redevelopment Agreement.) <br />RECITALS <br />A. The City and the Developer entered into a Redevelopment Agreement dated as of <br />December 30, 2009 (the “Redevelopment Agreement”), in connection with the implementation <br />of the Kingsland Walk Redevelopment Plan & Project. <br />B. The parties agree to amend the Redevelopment Agreement as herein provided. <br />AGREEMENT <br />Now, therefore, in consideration of the premises and promises contained herein and other <br />good and valuable consideration, the adequacy and sufficiency of which are hereby <br />acknowledged, the parties hereto agree as follows: <br />Developer to Advance Costs. <br />1. Section 2.2(b)of theRedevelopment Agreement <br />is hereby deleted in its entirety and the following inserted in its place: <br /> (b) Advances Following Execution of Agreement. On or about December 21, <br />2009, the Developer advanced to the City the sum of $5,000. The Developer further <br />agrees to advance to the City the sum of $15,000 within 10 days after the City Council’s <br />passage of an ordinance approving this First Amendment. The City may use funds <br />advanced pursuant to this subsection for the payment of legal, financial and other <br />consultants to the extent they are not already provided for by subsection (a) above. <br />Payment of any advance under this Section will not waive any application fee or other <br />cost to the Developer associated with any Governmental Approval required by the City’s <br />municipal code. <br /> Ownership of Property. <br />2. Section 3.2of theRedevelopment Agreement is hereby <br />deleted in its entirety and the following inserted in its place: <br />3.2 Ownership of Property <br />. The Developer represents (a) that it owns or has <br />under contract to purchase all of the Property required for the construction of the <br />Redevelopment Project except for the real property occupied by King’s Day Care (the <br />“King’s Day Care Property”) and (b) that it is diligently pursuing acquisition of the <br /> <br />