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Res13 15289
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Res13 15289
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Last modified
10/11/2019 7:50:19 AM
Creation date
10/11/2019 7:49:52 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Regular
Agency Type
City Council
Date
7/22/2013
Description
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING, AND AUTHORIZING THE CITY � MANAGER TO EXECUTE, A DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND REDWOOD CITY PARTNERS, LLC FOR 950 MIDDLEFIELD ROAD
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�..�,� _ �_.�.�. <br /> (e) Any amounts disbursed by the holder of any mortgage, deed of <br /> trust or other security instrument permitteri by this Agreement to the extent not <br /> already included in Sections 7.9.2(a)-(d),above; less <br /> (� Any gains or income withdrawn or made by the Developer <br /> from the Site or the improvements thereon;and less <br /> (g) The amount of liens on the Site and any unpaid assessments <br /> against the Site,or applicable portion thereof, assumed by the City. <br /> City agrees that it shall consider and execute any documents as may be reasonably <br /> requested by a lender to modify or clarify the provisions of this Option to <br /> Purchase. <br /> ' 7.9.4 Grant Deed. Upon the City's exercise of its Option to Purchase pursuant <br /> ' to this Section 7.9 (including the payment and delivery of all amounts due to <br /> ' Developer as set forth in Section 7.9.2), the Developer or its successors or assigns <br /> ' shall convey fee title to the Site, or applicable portion thereof, and all <br /> improvements on or to the Site, or applicable portion thereof, to the City by grant <br /> deed, in accordance with Civil Code Section 1109, as such code section may <br /> hereafter, from time to time, be amended, renumbered, replaced or substituted. <br /> Such conveyance shall be duly acknowledged by the Developer and a notary in a <br /> manner suitable for recordation. The City may enforce its rights pursuant to this <br /> Section 7.9 by means of an injunctive relief or forfeiture of title action filed in any <br /> court of competent jurisdiction. <br /> Section 2. , Upon (i} the expiration of a covenant period, consistent with the terms set forth _ <br /> above, and (ii) written request of the Developer or its successors or assigns, City agrees to <br /> quitclaim or execute any other appropriate document evidencing the termination of such <br /> covenant. <br /> THIS NOTICE OF AGREEMENT is dated as of , 201_, and has been executed on <br /> behalf of the parties to the Agreement on the date indicated next to the signatures of their <br /> authorized off'icers. This Notice of Agreement may be executed in counterparts and when fully <br /> executed each counterpart shall be deemed to be one original instrument. <br /> Exhibit"F' <br /> Form Of Notice Of Agreement <br /> Page 8 <br /> 2013.118/BLOCK 2 HUNTER STORM <br /> REV:07-26-13 PT <br />
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