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<br /> <br /> <br /> <br /> <br /> <br /> FIRST AMENDMENT TO <br /> REDEVELOPMENT AGREEMENT <br /> <br /> <br /> THIS FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT (this "First <br /> Amendment") is made and entered into as of this day of , 2010, by and <br /> between the CITY OF UNIVERSITY CITY, MISSOURI (the "City"), an incorporated <br /> political subdivision of the State of Missouri, and METROPOLITAN DEVELOPMENT- <br /> KINGSLAND WALK, LLC, a Missouri limited liability company (the "Developer"). (All <br /> capitalized terms used but not otherwise defined herein shall have the meanings ascribed in <br /> Article I of the herein-defined Redevelopment Agreement.) <br /> RECITALS <br /> <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 /> <br /> B. The parties agree to amend the Redevelopment Agreement as herein provided. <br /> <br /> AGREEMENT <br /> <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 /> <br /> 1. Developer to Advance Costs. Section 2.2(b) of the Redevelopment Agreement <br /> is hereby deleted in its entirety and the following inserted in its place: <br /> <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 /> <br /> 2. Ownership of Property. Section 3.2 of the Redevelopment Agreement is hereby <br /> deleted in its entirety and the following inserted in its place: <br /> <br /> 3.2 Ownership of Property. 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 />