(15)AR 100207 AGRMT Future Annexation for 105 Cypress Association, LLC (1st Amendment)

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1. Incorporation of Recitals; Effective Date. The foregoing Recitals are incorporated herein as part of this First Amendment. The "Effective Date" of this First Amendment shall be the date of recordation of this First Amendment in the Official Records of the County. 2. Amendment of Agreement. The Agreement is hereby supplemented and modified to incorporate the terms and conditions of this First Amendment, which shall supersede and prevail over any conflicting provisions of such document: (a) Exhibit "A" containing the property description of the three parcels is replaced with the Exhibit "A" attached to this First Amendment and incorporated by this reference, containing the current property description of the one merged parcel. 3. Non -Impairment. This First Amendment is an amendment, and not a novation, and except as expressly otherwise provided in this First Amendment, nothing herein contained shall in any way impair the Agreement or alter, waive, annual, vary or affect any term, provision, condition, covenant, right, power or remedy contained therein, it being the intent of Developer and City that the terms, provisions, conditions, covenants, rights, powers and remedies contained in the Agreement (and related documents) shall continue in full force and effect except as expressly modified by the terms of this First Amendment. 4. Governing Law. Except as otherwise provided herein, this First Amendment shall be governed by and interpreted in accordance with the laws of the State of California. 5. Amendments. This First Amendment may be amended only in a writing signed by both Developer and City. 6. Execution In Counterparts. This First Amendment may be executed in any number of counterparts, each of which when executed and delivered will be deemed to be an original and all of which, taken together, will be deemed to be one and the same instrument. [SIGNATURES TO FOLLOW ON NEXT PAGE]