Amendment No 2 to 2000 Community Redevelopment Relocation Settlement and Release Agreement (Nickelodeon Pizza)

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Section 2. Except as otherwise provided herein, all terms not otherwise defined in this Amendment No. 2 shall have the same meanings in this Amendment No. 2 as those terms are given in the Agreement. Section 3. Subsection (e) of Section 8 of the Agreement is amended in its entirety to read as follows: "(e) Prior to the commencement of the work of installation of the Capital Improvements, the Owner shall provide the Agency with evidence that the Owner has obtained all consents as may be required from its landlord at the Downtown Business together with all permits and approvals as may be required for such work from the City of Colton. All amounts disbursed by the Agency for the order and account of the Owner under Section 8(d) shall be used and applied solely to pay for bona -fide third party costs incurred by the Owner with respect to the Capital Improvements. Each request for disbursement of the redevelopment assistance payment for the Capital Improvements shall be accompanied by a suitably detailed written statement of costs incurred by the Owner for work on the Capital Improvements performed by the general contractor or materials, supplies and equipment purchased from third parties as part of the Capital Improvements. The Owner agrees to exercise best efforts to cause the installation of the Capital Improvements to be completed by November 1, 2002. The Agency shall, after January 31 2003, have no further obligation to pay any sum to the Owner for the cost of Capital Improvements to the Downtown Business nor shall the Agency have any further obligation to assume the City Permit Costs as may be associated with the installation of the Capital Improvements. Section 4. This Amendment No. 2 may be executed in counterparts, each of which shall be an original, and all of which shall constitute but one and the same instrument. sB2002:28305.1 3