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FIRST AMENDMENT TO REDEVELOPMENT <br /> DISPOSITION AND DEVELOPMENT AGREEMENT <br /> THIS FIRST AMENDMENT TO REDEVELOPMENT DISPOSITION AND <br /> DEVELOPMENT AGREEMENT ( "First Amendment" ) is made on this 28th day <br /> of MARCH , 1988, by and between the REDEVELOPMENT AGENCY OF <br /> THE CITY OF REDLANDS ( "the Agency" ) , a public body, corporate and <br /> politic, and REDLANDS FINANCIAL SERVICES, INC. , a California <br /> corporation ( "RFS" ) , with reference to the following: <br /> RECITALS <br /> A. On April 7, 1987, the Agency and H.G.H. PROPERTIES, a <br /> California Limited Partnership ( "H.G.H. " ) as the "Redeveloper" <br /> thereunder , entered into a "Redevelopment Disposition and <br /> Development Agreement (Redlands Park Plaza) " ( the "DDA" ) for the <br /> purpose of implementing the Redevelopment Plan for the Redlands <br /> Redevelopment Project in the City of Redlands providing for the <br /> development of a commercial retail and office complex to be <br /> included within the boundaries of the Project Area. <br /> B. H.G.H. has assigned all of its right, title and interest <br /> as the "Redeveloper" under the DDA to RFS and the Agency has <br /> consented to said assignment. <br /> C. The Agency and RFS now desire to amend the DDA as <br /> hereinafter- set forth. <br /> NOW, THEREFORE, for good and valuable consideration, receipt <br /> of which is hereby acknowledged, the Agency and RFS agree to <br /> amend the DDA in the following particulars only: <br /> 1 . Item 20 of the "SCHEDULE OF PERFORMANCE" attached as <br /> Exhibit "C" to the DDA, relating to the date of completion of the <br /> improvements to be constructed on and off the Site, is hereby <br /> amended to read as follows: "On or before September 28 , 1988. " <br /> 2 . , Section 3 . 5.2 of the DDA is hereby amended to substitute <br /> RFS as the Redeveloper in lieu and in place of H.G.H. The <br /> principal office of the Redeveloper shall be 300 East State <br /> Street, Redlands, California 92373 - Attention: Phillip R. <br /> Broderick . Further, any references to H.G.H. in the DDA and the <br /> exhibits thereto are hereby amended to substitute RFS therefor. <br /> 3 . Notwithstanding any provisions of the DDA to the <br /> contrary, the good faith deposit to be made pursuant to Section <br /> 3 .6 of the DDA may be made by Redeveloper through the assignment <br /> of a non-interest bearing passbook account established in the <br /> name of Redeveloper at Redlands Federal Savings and Loan <br /> Association provided such passbook account is irrevocable, <br />