Amendment to Section 5 of the Agreement. Section 5 of the Agreement is hereby amended and restated in its entirety as follows:
Amendment to Section 5 of the Agreement. Section 5 of the Agreement is hereby deleted in its entirety and replaced with the following:
Amendment to Section 5 of the Agreement. INTELLECTUAL PROPERTY
6.1 The Parties hereby agree that Sections 5.1, 5.2 and 5.3 of the Agreement shall be replaced by the following provisions:
Amendment to Section 5 of the Agreement. From the date of this Amendment until the earlier to occur of (a) the date one (1) year after the date of this Amendment; or (b) the date when the purchase price for the market rate residential units on the Lyon Property exceeds the the Maximum Initial Sales Price, the Developer will not be required to meet the provision of Section 5(d) and 5(e) of the Agreement. The City Manager/Executive Director has the discretion to extend in writing the one (1) year period in subsection (a) above for up to one (1) additional year.
Amendment to Section 5 of the Agreement. Section 5 of the Agreement is amended by deleting subsection (c) thereof and inserting the following in its place, and is further amended by adding a new subsection (f) as set forth below.
Amendment to Section 5 of the Agreement. Section 5 entitled “Rent” is hereby amended to read as follows: Sub-Lessor shall pay a rent of Five Thousand Five Hundred Dollars ($5,500) for the term of the lease, which shall be due and payable to the City on July 1. City shall pay the actual cost of water used by Sub-Lessor at the Premises.
Amendment to Section 5 of the Agreement. (i) The first sentence of Section 5.6 of the Agreement is hereby amended by deleting the term “Purchase Agreement” and replacing it with “Series B Purchase Agreement”
Amendment to Section 5 of the Agreement. Paragraph 5.A. of the Agreement is replaced in its entirety by the following, text:
A. The Minimum Purchase Targets for the applicable Time Period will be: January 1 2021, through December 31, 2021 [***] January 1, 2022, through December 31, 2022 [***] January 1, 2023, through December 31, 2023 [***] January 1, 2024, through December 3I, 2024 [***]
Amendment to Section 5 of the Agreement. Section 5.2 of the Agreement is hereby amended by substituting the amount "Thirty-Seven Million Five Hundred Thousand Dollars ($37,500,000)" for the amount "Forty-Seven Million Five Hundred Thousand Dollars ($47,500,000)" appearing in the second and third lines thereof.
