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INSURANCE C' <br />WORK MAY P <br />UNTILINSU= <br />CLERK OF COU v" <br />nAT _ 1 ^ Z1 <br />V-7- <br />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 />A- 2007 - 253 -001 <br />THIS EXERCISE OF FIRST ONE YEAR OPTION TO NON - EXCLUSIVE <br />` OPERATING AGREEMENT is entered into on November 3, 2009, by and between <br />Parking Concepts, Inc., a Delaware corporation ( "Operator ") and the City of Santa Ana, a <br />Vcharter 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 />I. 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 />