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Agmt99 Shea Homes
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Agmt99 Shea Homes
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Last modified
6/21/2016 9:43:00 AM
Creation date
9/8/2003 1:16:13 PM
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Template:
Agreement
Contractor Name
Shea Homes Limited Partnership
PROJECT NAME
DDA - Disposition and Development Franklin Street Project
RMP File Number
100
Date
10/28/1999
Reso Ref
RD-99-31
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B. All costs and expenses of acquiring the Acquisition Parcels or any <br />portion thereof, by eminent domain, including, but not limited to, filing fees, witness <br />fees, court costs, deposits necessary to obtain orders of prejudgment possession, <br />satisfaction of judgment, severance damages, loss of goodwill, pre-condemnation <br />damages and attorney's fees. <br /> <br /> C. All reasonable costs and expenses incurred by Agency in connection <br />with the relocation of the occupants of the Acquisition Parcels pursuant to California <br />Government Code Section 7260 et seq., and applicable administrative regulations, and <br />any applicable Federal laws and regulations. <br /> <br /> D. Reasonable fees and expenses of Agency attorneys and financial <br />consultants, the employment of which is reasonably necessary to effect the acquisition <br />and assembly of the Shea Project Site, including but not limited to the preparation and <br />implementation of agreements, preparationand adoption of environmental documents, <br />the review of design plans and construction drawings, and the relocation of the occupants <br />of the Acquisition Parcels. <br /> <br /> §305 SecuriW for Shared Infrastructure <br /> In order to assure Agency that the Shea Shared Infi'astmcture will be satisfactorily <br />completed, Shea shall, within ten (10) days of its Election to Proceed, deliver to Agency <br />security in the amount estimated to fund the Shea Shared Infrastructure, as shall be <br />mutually determined by Shea and Agency (the "Shared Infrastructure Security"). The <br />Shared Infrastructure Security shall be in a form reasonably approved by Agency and <br />may include a corporate surety bond or Cash Deposit as described in Section 307. The <br />Shared Infrastructure Security shall remain revocable by Shea until such time as Shea <br />approves the Acquisition Budget and makes its Election to Fund pursuant to .Section 304. <br />Upon Shea's notification to Agency of its Election to Fund pursuant to Section 304, the <br />Shared Infrastructure Security shall become irrevocable. In the event Shea elects not to <br />fund the Acquisition Budget pursuant to Section 304, the Shared Infrastructure Security <br />shall be immediately returned to Shea and exonerated and shall be unavailable to fund <br />any portion of the Shared Infrastructure. The Shared Infrastructure Security shall be <br />irrevocable unless Shea completes the Shea Shared Infrastructure or this Agreement <br />terminates because the Agency Defaults hereunder pursuant to Section 807, the Agency <br />fails to adopt a Resolution of Necessity for any Acquisition Parcel, or Shea is precluded <br />from development of the entire Shea Project by any government agency. Upon the <br />occurrence of any event set forth in the immediately preceding sentence, the Shared <br />Infrastructure Security shall be immediately returned to Shea and exonerated and shall be <br />unavailable to fund any portion of the Shared Infrastructure. Additionally, upon the <br />completion of an element of the Shea Shared Infrastructure designated by a roman <br />numeral in Attachment 6(b), Agency shall reduce and return to Shea, or exonerate, as the <br />case may be, the Shared Infrastructure Security by the amount equivalent to the portion <br />of the Shared Infrastructure Security that corresponds with such completed element. <br /> <br />§306 [Intentionally Omitted] <br /> <br /> 10 <br />wc-21875 <br /> <br /> <br />
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