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v <br />i <br />`NC11jRh: VA? PROCEE1 <br />oA? 7 <br />EXERCISE OF THIRD ONE -YEAR OPTION AND <br />AMENDMENT TO NON - EXCLUSIVE OPERATING <br />AGREEMENT FOR PUBLIC PARKING GARAGES <br />AND SURFACE LOT STAFFING AND FIELD <br />MANAGEMENT BETWEEN THE CITY OF <br />SANTA ANA AND PARKING CONCEPTS, INC. <br />A- 2011 -259 <br />THIS EXERCISE OF THIRD ONE -YEAR OPTION AND AMENDMENT TO NON- <br />EXCLUSIVE OPERATING AGREEMENT is entered into on December 5, 2011, by and <br />between Parking Concepts, Inc., a Delaware corporation ( "Operator ") and the City of Santa Ana, <br />a charter city and municipal corporation of the State of California ( "City "). <br />RECITALS: <br />A A. The City entered into the Non - Exclusive Operating Agreement for Public Parking <br />Garages and Surface Lot Staffing and Field Management Between the City of Santa Ana and <br />Parking Concepts, Inc. (Agreement #2007 -253) dated December 31, 2007 ( "said Agreement "), <br />with Operator by which Operator has operated and managed the City's Parking Garages and <br />Surface Parking Lots for four years. <br />B. In accordance with said Agreement, the parties exercised the First Option to said <br />Agreement on November 3, 2009, and the Second Option to said Agreement on November 15, <br />2010. <br />C. In accordance with the terms and conditions of said Agreement, the parties wish to <br />exercise the third one -year option to extend the term for one (1) additional year. The parties also <br />wish to amend certain terms of said Agreement. <br />WHEREFORE, in consideration of the mutual and respective covenants and promises hereinafter <br />contained and made, and subject to all of the terms and conditions of said Agreement, the parties hereto <br />do hereby agree as follows: <br />Section 3, TERM OF AGREEMENT, shall be extended by exercise of this Third Option to <br />extend the term from January 1, 2012 to January 1, 2013. <br />2. Section 4, COMPENSATION, shall be amended to continue the compensation of $2,600.00 <br />per month. Total annual compensation under the Agreement shall not exceed $31,200.00 over the <br />extended term. <br />3. Except as hereinabove amended, all terms and conditions of said Agreement shall remain in <br />full force and effect. <br />