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21-0927_SOUTH COAST INVESTORS II, LLC_Amd 1 to Revenue Sharing AgreementAMENDMENT NO. 1 TO THE REVENUE SHARING AGREEMENT BETWEEN THE CITY OF SAN JUAN CAPISTRANO I:\IM SOUTH COAST INVESTORS II, LLC Parties and Date. This Amendment No. 1 to the Revenue Sharing Agreement is made and entered into as of this _2 day of n 021, by and between the City of San Juan Capistrano, a municipal organization organized der the laws of the State of California with its principal place of business at 32400 Paseo Adelanto, San Juan Capistrano, California 92675 ("City") and South Coast Investors II, LLC with its principal place of business at 31866 Camino Capistrano, San Juan Capistrano, CA 92675 ("Hotel"). City and Hotel are individually referred to as "Party" and collectively as "Parties." 2. Recitals. 2.1 Hotel. The City and Hotel have entered into an agreement entitled "Revenue Sharing Agreement" dated October 30, 2018, ("Agreement'). 2.2 Amendment Purpose. The City and Hotel desire to amend the Agreement to postpone by one year the Commencement Date of the agreement as defined in Section 1.2. 3. Terms. 3.1 Amendment. The following section is hereby amended in their entirety to read as follows: Section 1.2 "Commencement Date" shall mean January 1, 2022. 3.2 Continuing Effect of Agreement. Except as amended by this Amendment No. 1, all other provisions of the Agreement remain in full force and effect and shall govern the actions of the Page 1 of parties under this Amendment No. 1. From and after the date of this Amendment No. 1, whenever the term "Agreement" appears in the Agreement, it shall mean the Agreement as amended by this Amendment No. 1. 3.3 Adequate Consideration. The Parties hereto irrevocably stipulate and agree that they have each received adequate and independent consideration for the performance of the obligations they have undertaken pursuant to this -Amendment No. 1. 3.4 Severability. If any portion of this Amendment No. 1 is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect. [Signatures on Next Page) Page 2 of 3 SIGNATURE PAGE FOR AMENDMENT NO. 1 TO REVENUE SHARING AGREEMENT BETWEEN THE CITY OF SAN JUAN CAPISTRANO AND SOUTH COAST INVESTORS 11, LLC CITY OF SAN JUAN CAPIS NO SOUTH COAST INVESTORS II, LLC Approved By-- BenjaKin SAqOK S' ature Manager Approved As To Form: wl L�s.nn -1. Name �St G+E�1 l Title City Attorney Date Page 3 of 3