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EXHIBIT 2 <br />THE DOWNTOWN MERCHANTS FUND <br />OPERATING AGREEMENT <br />THIS FIRST AMENDMENT TO THE DOWNTOWN MERCHANTS FUND OPERATING <br />AGREEMENT is entered into this 18th day of December, 2018, by and between the City of Santa Ana, a <br />charter city and municipal corporation duly organized and existing under the Constitution and laws of the <br />State of California ("City"), and Downtown Incorporated, Inc., a California non-profit corporation ("DTI"). <br />RECITALS <br />A. On January 10, 2018, the City entered into the Downtown Merchants Fund Operating <br />Agreement #A-2017-326 with DTI to create the Downtown Merchants Fund ("DMF") from a <br />portion of downtown parking revenues for continued promotion of the downtown ("said <br />Agreemenn. The intent of said Agreement is for DTI to receive $100,000 from the DMF each <br />calendar year that such funding is approved by City Council. <br />B. The City hereby approves an additional $100,000 in DMF funds for use by DTI in 2019 <br />pursuant to the terns and conditions of said Agreement. Additionally, the City hereby approves <br />DTI's 2019 DMF Annual Budget. <br />C. In accordance with the terms and conditions of said Agreement, the parties desire to amend <br />said Agreement to extend the term of said Agreement, add an additional $100,000 in DMF <br />funding for the extended term of said Agreement, and incorporate DTI's 2019 DMF Annual <br />Budget into said Agreement. <br />NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the <br />terns and conditions of said Agreement, except as herein modified, the parties agree as follows: <br />Pursuant to the terms of said Agreement, the City Council approved an additional $100,000 <br />in DMF funding for the 2019 calendar year to be utilized by DTI pursuant to DTI's 2019 <br />DMF Annual Budget and the terms of said Agreement. <br />2. Section 1.02, Term, shall be amended to read as follows: <br />"This Agreement shall commence on the date first written above and terminate on <br />December -31-,-2019, unless terminated earlier in accordance with sections 4.02 or 4.05 <br />below." <br />3. Section 2.01, Annual Budget and Program Report, subsection (a), shall be amended to <br />reflect the City's approval of DTI's 2019 DMF Annual Budget, a true and correct copy of <br />which is attached hereto as Exhibit A and incorporated herein by reference. <br />25Q-5 <br />