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AGREEMENT <br />AGREEMENT, hereinafter referred to as "this Agreement," entered <br />into as of the 3rd day of October , 1972, between the <br />CITY OF REDLANDS, herein called "the City," a public body, <br />corporate and politic of the State of California, and a joint <br />venture consisting of the HOWARD S. WRIgHT CONSTRUCTION CO., <br />E. M. SCHAFFRAN AND CO., AND HOWARD E. CONNOR, herein called <br />"the Redeveloper". <br />W I T N E S S E T H <br />WHEREAS, the City has determined that it is in the public interest <br />to revitalize the Central Business District (CBD), through the <br />construction of new commercial, parking, and ancillary facilities. <br />WHEREAS, the City has established a Redevelopment Agency to achieve <br />the renewal objectives, utilizing the provision of the California <br />Community Redevelopment Law. <br />WHEREAS, the City has invited proposals from developers for this <br />revitalization, and has reviewed said proposals. <br />WHEREAS, the City has determined that the proposal from the <br />Redeveloper is the superior proposal, and that it is in the best <br />interest of the City of Redlands to enter into a contract with <br />this group. <br />NOW, THEREFORE, each of the parties hereto, for andin consideration <br />of the premises and agreement of the other parties hereto, does <br />covenant and agree that: <br />1. The City hereby enters into an agreement with the <br />Redeveloper for the development of that portion of <br />the Central Business District, lying contiguous to <br />and west of Orange Street, as defined more particularly <br />in Exhibit A, which is attached hereto and made a part <br />of this Agreement. <br />2. It is understood that the Redeveloper intends to employ <br />Coldwell, Banker & Co. to acquire land and to conduct the <br />leasing for the retail facilities, and the firm of Burke, <br />Kober, Nicholais & Archuletta to design the Center. <br />