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Res17 15621
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Res17 15621
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Last modified
10/11/2019 7:56:55 AM
Creation date
10/11/2019 7:56:39 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Agency Type
City Council
Date
9/25/2017
Description
A 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 MP BRADFORD ASSOCIATES, L.P. FOR 707 BRADFORD STREET
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ARTICLE H <br /> REPRESENTATIONS; EFFECTIVE DATE; PROJECT SCOPE; FINANCING PLAN <br /> 2. 1 Developer's Representations. Developer covenants that until the expiration or <br /> earlier termination of this Agreement, upon learning of any fact or condition which would cause <br /> any of the warranties and representations in this Section 2. 1 to be untrue, Developer shall <br /> immediately give written notice of such fact or condition to City. Developer acknowledges that <br /> City shall rely upon Developer's representations made herein notwithstanding any investigation <br /> made by or on behalf of City. Developer hereby represents, warrants, and covenants that the <br /> following are true and correct as of the Effective Date, and shall be true and correct as of the <br /> Closing Date: <br /> (a) Organization. Developer is a limited partnership, duly organized and in <br /> good standing under the laws of the State of California. Developer's general partner is MP <br /> Bradford Senior Housing, LLC, a California limited liability company, duly organized and in good <br /> standing under the laws of the State of California and whose manager is Mid-Peninsula Half Moon <br /> Bay, Inc., a nonprofit public benefit corporation duly organized and in good standing under the <br /> laws of the State of California and tax-exempt under Section 501 (c) (3) of the Internal Revenue <br /> Code of 1986, as amended. <br /> (b) Authority of Developer. Developer has full power and authority to execute <br /> and deliver this Agreement and all other documents or instruments executed and delivered by <br /> Developer, or to be executed and delivered by Developer, pursuant to or in connection with this <br /> Agreement, and to perform and observe the terms and provisions of all of the foregoing. <br /> (c) Authority of Persons Executing Documents. This Agreement and all other <br /> documents or instruments executed and delivered by Developer, or to be executed and delivered by <br /> Developer, pursuant to or in connection with to this Agreement, have been executed and delivered, <br /> or will be executed and delivered, by persons who are duly authorized to execute and deliver the <br /> same for and on behalf of Developer, and all actions required under Developer's organizational <br /> documents and applicable governing law for the authorization, execution, delivery and <br /> performance of this Agreement and all other documents or instruments executed and delivered by <br /> Developer, or to be executed and delivered by Developer, pursuant to or in connection with this <br /> Agreement, have been duly taken or will have been duly taken (to the extent such actions are <br /> required) as of the date of execution and delivery of such documents. <br /> (d) Valid and Binding Agreements. This Agreement and all other documents or <br /> instruments which have been executed and delivered by Developer or will be executed and <br /> delivered by Developer pursuant to or in connection with this Agreement constitute or, if not yet <br /> executed or delivered, will when so executed and delivered, constitute, legal, valid and binding <br /> obligations of Developer, enforceable in accordance with their respective terms, subject to laws <br /> affecting creditors' rights and principles of equity. <br /> (e) No Breach of Law or Agreement. Neither the execution nor delivery of this <br /> Agreement or any other documents or instruments executed and delivered by Developer, or to be <br /> executed or delivered by Developer, pursuant to or in connection with this Agreement, nor the <br /> performance of any provision, condition, covenant or other term hereof or thereof, will conflict <br /> ATY/AGR/2017.218/RWC — BRADFORD — DDA <br /> REV: 09-18-17 VR <br /> Page 6 of 94 <br />
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