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to be and constitute a Supplemental Assessment Agreement to the extent of $1,934,000 of the Assessor's Minimum Market Value established therein for all purposes under the Devel- opment Agreement, specifically including but not limited to rent adjustment pursuant to Section 3.4(b) thereof. Section 3. Ad jus ted Rent; Fu ture Addi tional Improve- ments. As provided in Section 2 hereof, upon execution of the Amended Assessment Agreement, Winfield shall be deemed to have executed a Supplemental Assessment Agreement in the amount of $1,934,000 for purposes of rent adjustment under Section 3.4(b) of the Development Agreement. The applicable Adjustment Date (as defined in the Development Agreement) is July 1, 1986. Therefore, beginning July 1, 1986, the Adjusted Rent payable each month by Winfield to the City pursuant to Section 3.4 of the Development Agreement shall be $5,259.50 for the balance of the Lease Term or until any subsequent Adjustment Date, whichever occurs first. Addi- tionally, pursuant to Section 3.5 of the Development Agree- ment, the Loan Amount and the Pr incipal Balance shall be reduced by the sum of $190,000, effective as of July 1, 1986. Winfield shall be eligible for additional reductions in rent, Loan Amount and Principal Balance upon construction of further Addi tional Improvements and execution of a Supple- mental Assessment Agreement therefor, all as provided in Article III of the Development Agreement. Section 4. Relationship to Series A and Series B Letter Agreements: Conforming Amendments. This Addendum does not and shall not be deemed to amend or supercede any provision of the Series A Letter Agreement, and does not and shall not be deemed to amend or supercede any provision of the Series B Letter Agreement except as specifically provided in this Section 4. The "Parcel B Rent" stated in paragraph 3 of the Series B Letter Agreement (e.g. $3,901.00) shall be reduced to $2,067.50 effective as of July 1, 1986, pursuant to the rent adjustment made pursuant to Section 3 hereof and the provisicns of the Series B Letter Agreement. Additionally, the provisions of paragraph 7 of the Series B Letter Agree- ment, allocating the Assessor's Minimum Market Value estab- lished pursuant to the Original Assessment Agreement between Parcel A and Parcels Band C, are hereby declared null and void and are hereby superceded by the provisions of this Addendum and of the Amended Assessment Agreement. Section 5. Construction. The City and Company agree that the provisions of the Development Agreement, the Series A Letter Agreement and the Series B Letter Agreement shall be construed so as to effectuate the purposes of this Adden- dum. - 4 -