AgdaPkt 2002-12-09 - Laserfiche WebLink

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�. � - � o� - Project (the effect of which is expccted to be a reduction of approximaYely 3,000 square feet in such gross leasable area). °'fhe Agency may also seduce the size of the ProjecYs Theatre Plaza, in the reasonable discretion of the Agency, in order w enhance the Projact design. Article 3 PROVISIONS RELATING TO ACQiTISITION PARCELS • � -:= m - a_ a�-^. L:`c _: c �. - `-- ` --_ :. §301 Sale and Parehase �: .� In accordance with and subject to all of the other terms, covenants and conditions of tkris Agreement, and pmvided the Agency has adopted a Resolution of Necessity after due notice and hearing if an.y Acquisition Parcel is to be acquired by eminent domain, the Agency will acquire the Acquisition Parcels, and shall convey the Acquisition Parcels to Developer and Developer will accept the conveyance of the Acquisition Parcels from the Agency and, subject to Section 505 and tht o2her terms and conditions set forth in tlris Agreement, will diligently develop and build the Projeet on the Acquisition Pazcels and the Agency Parcel, for the uses and subj ect to the terms and conditions of tiris Agreement. Notwithstanding the foregoing, the Parties may agree that title to the Parcels will be retained by the City or Agency and that the Developer will acquire a vertical subdivision, air rights or other financeable interests in the Property. The Parties will agee to a final form of conveyance within sixty (60) days of the Eft'ective Date of this Agreement. §302 Site Feasibilitv Assessment — Prior to the Agency's approval of fair mazket value to be used in the Agency's offers to owners pursuant to Govemment Code Secrion 7267.2 for acquisi6on of any portion of the Project Site, Agency shall, at Developer's expense, cause to be prepared for the entire Pmject Site by a consultant or consultants approved by the Developer, a"Phase P' hazardous materials assessment, and, if the Phase I assessment indicates a need for a"Phase II" assessment, Agency shall cause the Phase II assessment to be conducted at Developer's expense by consultants, and at a cost, approved by Developer. Developer shall conduct, at Developer's expense, such other studies and assessments, including, but not limited to, soils and geotechnical investigarions, economic, cultural resources surveys, and investigations of the structural integrity of existing buildings, as Developer determines aze reasonably necessary for the development of the Pmject (the "Site Feasibility Assessment") and shall have appmved, in its sole and absolute discretion, the condition of the Project Site prior to the making of such offers. For Uus purpose, the Agency and the City agree to pmmptly provide access to the Agency Pazcel and the Acquisition Parcels, consistent with the Agency's acquisition of such rights of access under Section 1245.010 of the Code of Civil Procedure. The Pazties aclrnowledge that if it is determined that, as a result of the Phase II assessment, environmental retnediation is necessary, the Agency shall get an estimate of the costs of remediation and the estimated remediation costs will be included within the proposed acquisition budget. §303 Meet and Confer In the event that any party identifies potenrial impediments to the feasibility of the Project at any time during the term of this Agreement, the parties shall promptly meet and confer in good faith and use their best efforts to discuss and agree upon mutual approaches to overcoming such 7 DOCSSP1:648942.4 99'/S-5 C l4 120502