Res99 RD-99-30 - Laserfiche WebLink

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Article 2. ASSE:�IBLY OF THE PROJECT SITE §201 General The parcels that comprise the IAC Project Site aze to be assembled and title and right of possession thereto obtained by IAC, in the manner set forth in this article. Each parcel is identified hereinafrer by letter and by the number of its respective preliminary title repoR ("Preliminazy Report"). §202 Participatine Parcels A. IAC has acquired ihe following pazcels: APN Nos. 053-176-070; 053-176-080;053-175-050;053-173-010;053-176-090;053-176-060;053-175-010;and 053-175-040 (the "Participating Pazcels"). B. The Agency shall have no financial responsibility whatsoever in connection with the acquisition of title and possession to the Participating Pazcels by IAC. §203 Acquisition Parcels A. In addition to the Participating Pazcels covered under Section 202 above, there are three (3) other pazcels that comprise the IAC Project Site that IAC may ask the Agency to acquire. Such pazcels aze identified by Preliminary Report Number 592391 issued by the Title Company and dated as of May 6, 1999, and APN Nos. 053-175-020 and 053-175-030 (each, an "Acquisition Pazcel", and collectively, the "Acquisition Pazcels"). B. The Agency's conditional duty under this Agreement to acquire and convey the Acquisition Pazcels to IAC extends only to the Acquisition Pazcels as described in the Preliminary Reports. IAC acknowledges and agrees that the Agency has no duty under this Agreement or otherwise to acquire or convey to IAC any land other than the Acquisition Pazcels whether lying within the IAC Project Site or elsewhere. C. The parties acknowledge that if IAC enters into a purchase contract with an owner of an Acquisition Pazcel prior to the Effective Date, then this Agreement shall be amended to change such Acquisition Pazcel to a Participating Pazcel and to state that the provisions herein applicable to Acquisition Pazcels shall not apply to such transferred Participating Pazcel. D. The Agency will cooperate in requesting that the City abandon the City's right of way easement over those portions of Franklin Street and Monroe that will cease to be used for street purposes following the realignment of Franklin Street and the reconstruction of Monroe Street contemplated by the Basic Concept Drawings. Article 3. PROVISIONS RELATING TO ACQUISITION PARCELS §301 Sale and Purchase Subject to Sections 108(D), 201 and the Site Feasibility Assessment, and in accordance with and subject to a(1 of the other terms, covenants and conditions of this Agreement, and provided the Agency has adopted a Resolution of Necessity afrer due notice and hearing if any 6 -� 9627:8397615