AgdaPkt 2006-09-11 - Laserfiche WebLink

Browse Search

� ' ATTACHMENT B 6.36 � Page 8 Estoppe!Certificate RECITALS A. The Redevelopment Agency of the City of Redwood City, a public body, corporate and politic(the "Agency"),tlie City of Redwood City, a charter city and municipal corporation(the "Ciiy"}and BHV Innisfree Ventures I, LLC, a California limited liabiiity company("BHVIV"), predecessor-in-interest to On Broadway Redwaod Ciry, LLC, a California Iimited liability company (the "Develaper"}, previously entered into an Amended and Resta.ted Disposition and Development Agreernent for powntown Retail-Cinema and Parking Pmject daxed as of January S, 2003, The parties hereto subsequently entered into that certain First Implementation Agreement to Axnended and Restated Disposition and Development Agreement, dated as of February 24, 2003, and that certain Second Implementation to Amended and Restated Disposition and Development Agreement,dated as of September 23, 2003. These three documcnts together are referred to herein as the "DDA." The Property (as such term is defined below) is subject to the DDA. B. The Agency conveyed in accordance with and subject to the DDA that certain r�al property located in the County of San Mateo, State of Califoxnia, as more particularly described in E.xhibit A attached here#o and made a part hereof("Parcel A") to Deveioper pnrsuant to that certain Gran#deed recorded November 23,20(}4, document no. 2004-23I 51 S in the official records of San Mateo County, California{the "DDA Deed"}. C. The property which is the subject af the DDA is more particularly described in Exhibit B attached hereto and made a part hereof, and cansists of Parcel A and the underlying pa�rcel in which the Public Parking Facility (as defined 'tn the DDA) is located ("Parcel B", and together with Parcel A,the "Property"}. D. Developer desires ta transfer fihe Property(the "Transfer")to On Broadway Investars, LLC, a Delaware limited liability company{the "Company")> and RAR2-- Broadway at Redwood City—CA,Inc., a Maryland corporation,("RAR2")desires ta acquire an interest in the Company (the "LLC Interest"}. E. Tt is a condition to I2AR2's willingness to acquire the LLC Interest that the Agency(i)confirm that Developer is �in compiiance with the terms and provisions of the DDA and the DDA Deed and(ii) approve the Tzansfer to the Company and the purchase of the LLC Interest by RAR2. C�RTIFICATE NOW,THEREFORE,the Agency does hereby represent and warrant as follows: 1. As of the date hereaf,the DDA is in full forc� and e.ffect and no amendments,modifications, supp�ements or other changes are currently in effect or anticipated other than as listed in Paragraph A above. 2. As of the date hereof arad to the knawledge of the undersigned,Developer is not in monetary or material default under the DDA or the DDA Deed, and na canditions exisfi