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• * { 411 <br /> AMENDMENT NO. 1 <br /> RIGHT OF ACCESS AGREEMENT <br /> Between: City of Rancho Palos Verdes & Palos Verdes Shores Mobile Estates, <br /> Ltd. <br /> This Amendment No. 1 ("Amendment") to Right of Access Agreement is made and <br /> entered into as of October 1 , 2014, by and between the Palos Verdes Shores Mobile <br /> Estates, Ltd., a California limited partnership ("Grantor") and City of Rancho Palos <br /> Verdes, a California municipal corporation ("City"). <br /> RECITALS: <br /> A. City and Grantor entered into that certain Right of Access Agreement dated April <br /> 16, 2013 (the "Agreement"). All capitalized terms not otherwise defined in this <br /> Amendment shall have the meanings specified in the Agreement. <br /> B. The License Work has been completed. <br /> C. City and Grantor have inspected the Property and all drainage structures located <br /> within or immediately adjacent to the Property, and evaluated the extent of any <br /> damage caused by the City Parties in connection with the Agreement. <br /> D. City and Grantor desire to amend the Agreement regarding the obligation of City <br /> to repair and restore property damaged by the City Parties in connection with the <br /> Agreement. <br /> NOW, THEREFORE, in consideration of the mutual promises contained herein, and <br /> other good and valuable consideration, the receipt and sufficiency of which are <br /> hereby acknowledged, City and Grantor do hereby agree as follows: <br /> 1. The foregoing recitals are incorporated herein by this reference. <br /> 2. Settlement of City liability for Grantor's Property: The Parties agree that a <br /> lump sum payment to Grantor in the amount of $75,000 shall fully compensate <br /> Grantor for construction related damages, wear and tear, and all other claims <br /> arising from Section 1.4 of the Agreement, relating to damage to the Property <br /> and all drainage structures located within or immediately adjacent to the <br /> Property. Upon such payment City shall have no further obligation to repair and <br /> restore the Property, including but not limited to the asphalt surface and <br /> substructure of the private streets, landscaping, curbing, and any concrete <br /> drainage structures located within or immediately adjacent to the Property. <br /> 3. City Liability for Utilities: City hereby agrees to repair, or cause the repair, of <br /> 1 <br /> R6876-0001\1754086v2.doc <br /> Liv <br />