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EXERCISE OF FIRST ONE YEAR OPTION TO <br />NON-EXCLUSIVE OPERATING AGREEMENT <br />FOR PUBLIC PARKING GARAGES & SURFACE <br />LOT STAFFING AND FIELD MANAGEMENT <br />BETWEEN THE CITY OF SANTA ANA AND <br />PARKING CONCEPTS, INC. <br />THIS EXERCISE OF FIRST ONE YEAR OPTION TO NON-EXCLUSIVE <br />OPERATING AGREEMENT is entered into on , 2009, by and between <br />Parking Concepts, Inc., a Delaware corporation ("Operator") and the City of Santa Ana, a <br />charter city and municipal corporation of the State of California ("City"). <br />RECITALS: <br />A. The City entered into the NON-EXCLUSIVE OPERATING AGREEMENT <br />FOR PUBLIC PARKING GARAGES & SURFACE LOT STAFFING AND FIELD <br />MANAGEMENT BETWEENTHE CITY OF SANTA ANA AND PARKING <br />CONCEPTS, INC. (Agreement # 2007-253) dated December 31, 2007, with Operator by <br />which Operator has operated and managed the City's Parking Garages and Surface <br />Parking Lots for the past two years (hereinafter "said Agreement"). <br />B. In accordance with the terms and conditions of said Agreement, the parties <br />wish to exercise the first one-year option to extend the term for one (1) additional year. <br />WHEREFORE, in consideration of the covenants contained in said Agreement, and <br />subject to all the terms and conditions of said Agreement, the parties agree as follows: <br />1. Section 3, TERM OF AGREEMENT, shall be amended by this First Option to <br />Extend the term from January 1, 2010 through January 1, 2011. <br />2. Section 4, COMPENSATION, shall remain unchanged at $2,400.00 per month, <br />with total annual compensation at $28,800.00. <br />3. Except as hereinabove amended, all terms and conditions of said Agreement shall <br />remain in full force and effect. <br />/// <br />/// <br />/// <br />250-3 <br />