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Agmt17 Belmont-Redwood Shores School District
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Agmt17 Belmont-Redwood Shores School District
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Last modified
4/13/2017 5:08:01 PM
Creation date
4/13/2017 5:04:42 PM
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Agreement
Contractor Name
Belmont-Redwood Shores School District
PROJECT NAME
Ground Lease - Sandpiper
RMP File Number
304
Date
4/13/2017
Reso Ref
15557, 15558, 15567
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thereto to District. City shall thereupon have exclusive right, title <br />and interest in and to said School Site and all improvements constructed <br />thereon and may, at City's option, raze and remove said improvements <br />(excluding the multi-purpose room/community center) at District's cost <br />and expense. City shall pay District the then prevailing fair market <br />value of District's proportionate share of the multi-purpose <br />room/community center; provided, that if City razes and removes the <br />other improvements upon the School Site as aforesaid, District may <br />offset the costs and expenses payable for such razing and removal by an <br />amount equal to the then prevailing fair market value of District's <br />proportionate share of the multi-purpose room/community center. <br />City and District shall cooperate in establishing a fair and <br />impartial process for determining the fair market value of the multi- <br />purpose room/community center and/or the cost of razing school <br />improvements if either activity is undertaken pursuant to this <br />paragraph. <br />District hereby covenants and agrees to execute such reconveyances <br />or other appropriate documents as City reasonably may require to <br />evidence perfection of title to the School Site in City. <br />32. Additional Actions to Implement Agreement. <br />The parties acknowledge that it is impractical in a transaction of <br />the nature set forth in this Agreement to provide for, or anticipate, <br />every action by City or District that may be required to fully implement <br />the Agreement. City and District agree to cooperate in good faith, and <br />to take any such additional actions that may be necessary to fully <br />implement the Agreement. <br />ELI <br />ATTY/AGR/2017/AMENDMENTS/AMEND NO. 1 TO JOINT USE AGREEMENT- SANDPIPER <br />REV: 03-02-17 JS Page 35 of 42 <br />
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