1901 FIRST STREET OWNER, LLC. (2)

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A -2016- 222 -01 FILM AlltllVlf LNDMENT TOT9LUNGAGREi�+DENT- This First Amendment to Tolling Agreement (the "Fist .Amendment ") is entered into by and between the CITY OF SANTA ANA ( "City "), and 1901 FIRST STREET OWNER, LLC ( "1901 First Street') (collectively hereinafter "the Parties "), In connection with the real property located at 1901, 190 and 1905 E. First Street, in the City of Santa Ana, which is to be developed as a multi- family residential development consisting of 264 units ("Project "), IEECITALS A; 1901 First Street sought and obtained approvals from the City to build the Project, B. A dispute subsequently arose as to whether the City properly calculated the assessable space for school impact fees applicable to the Project, C The dispute involving the City, 1901 First Street and the Tustin Unified School District is currently the subject of litigation filed in the Superior Court of California in the County of Orange (Case No, 30- 2015 - 00803234- CU- WM -CJC), D, On September 10, 2015, 1901 First Street Fled a claim tinder the Government Claims Act against the City for damages arising from, and roWad to, the City's actions In allegedly improperly changing its standard practice for calculating assessable space for school impact fees for the Project ( "the E, On or about April 24 2016, the Partlas entered into a tolling agreement (the "Tolling Agroomont ") in order to toll any time limit on bringing any lawsuit or claim against the other, including but not limited to any causes of action set forth in the Claim., and agreed that litigation, if any, of such claims be held in abeyance and without prejudice to the rights of the Parties during the pendency of the Tolling Agreement. Per the terms of the Tolling Agwom.oat, the Tolling Agreement expires on May 31, 2016, at 11:59 p.m. F, Prior to expiration of the Tolling Agreement, and by way of this First Amendment, the Parties now desire to amend the Tolling Agreement to further extend the lolling period until June 10, 2016, as further described below, AGREEMENT NOW, THFREFORG, in consideration of the covenants and conditions contained herehr, the Parties agree as follows; 1. Section 4 of the Tolling Agreement is hereby deleted in its entirety and replaced with the following; '% This Agroernent shall not extend beyond Tune 10, 2016, and shall be deemed by the Parties to be expired as of 11;59 p,m, on that date."