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AgdaPkt 2018-05-21 Joint SA PFA
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AgdaPkt 2018-05-21 Joint SA PFA
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Last modified
5/22/2018 3:10:38 PM
Creation date
5/17/2018 5:10:42 PM
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CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
5/21/2018
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<br />OAK #4843-3885-9090 v10 Exhibit F-68 <br />ATTY/AGR/2018.094/STRADA DOCKTOWN DEVELOPMENT AGREEMENT <br />REV: 05-03-18 PR <br />Page 68 of 93 <br />c. City shall have delivered through Escrow the executed, <br />acknowledged and recordable Maple Street Grant Deed sufficient to convey title to the <br />Maple Street Vacation Area as set forth in Section 4.2. <br />d. City shall have delivered through Escrow an Acceptance of <br />Irrevocable Offer and a Non-Foreign Transferor Declaration duly executed and in the form <br />provided by Escrow Agent. <br />e. City shall not be in default of any of its obligations under the terms <br />of this Agreement, and all of City’s representations and warranties made as of the Effective <br />Date shall continue to be true and correct as of the Close of Escrow. <br />The failure of any of the conditions set forth above shall constitute a failure of a condition precedent <br />to Closing, and in such event, Strada shall give City written notice of the failure of such condition. <br />The City shall have thirty (30) days from receipt of said notice to cure such failure. In the event <br />that the City does not cure such failure with said timeframe, Strada may elect to (i) waive such <br />condition or (ii) terminate its obligations under this Agreement without further liability to City. <br />Strada’s election to complete the exchange notwithstanding the failure of one or more conditions <br />shall constitute a waiver of such condition(s) by Strada. <br />9. Permission to Enter on Exchange Properties. Strada shall have until the Close of <br />Escrow to enter upon the Maple Vacation Street Area and, at its expense, to perform any and all <br />studies that Strada desires on the Maple Street Vacation Area, including a Phase II toxics test, soils <br />tests, and any other related investigations Strada elects to perform, provided Strada notifies City in <br />advance of what tests will be performed, the time of such tests, and the entity performing such tests. <br />Strada shall enter into a right of entry agreement with City, in form reasonably acceptable to the <br />City Attorney, indemnifying City from and against any claims, demands, expenses or liabilities <br />which arise from or relate to Strada’s inspections and/or testing of the Maple Street Vacation Area, <br />except to the extent such claims result from City’s sole or active negligence. <br />City shall have until the Close of Escrow to enter upon the Public Right-of-Way and Public <br />Service Easement Area and, at its expense, to perform any and all toxics tests, soils tests, and any <br />other related investigations City elects to perform to confirm Strada’s compliance with the terms of <br />Section 10.1 below, provided City notifies Strada in advance of what tests will be performed, the <br />time of such tests, and the entity performing such tests. City shall enter into a right of entry <br />agreement with Strada, in form reasonably acceptable to Strada, indemnifying Strada from and <br />against any claims, demands, expenses or liabilities which arise from or relate to City’s inspections <br />and/or testing of the Public Right-of-Way and Public Service Easement Area, except to the extent <br />such claims result from Strada’s sole or active negligence. <br />10. Condition of Exchange Properties. <br />10.1. Public Right-of-Way and Public Service Easement Area. Prior to dedication <br />and conveyance of the Public Right-of-Way and Public Service Easement to the City, Developer <br />shall make such investigations of the Public Right-of-Way and Public Service Easement Area as <br />Strada deems necessary to confirm the absence of Hazardous Materials (defined in below) on, under <br />or about the Public Right-of-Way and Public Service Easement Area, including within the soil and <br />6.4.B. - Page 93
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