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Agmt13 Redwood City Partners, LLC
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Agmt13 Redwood City Partners, LLC
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Last modified
8/1/2013 10:36:57 AM
Creation date
8/1/2013 10:20:49 AM
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Agreement
Contractor Name
Redwood City Partners, LLC
PROJECT NAME
Disposition and Development Agmt, Block 2, Redwood Tower Project, 950 Middlefield Rd
RMP File Number
304
Date
7/30/2013
Reso Ref
15289
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shall be subject to the satisfaction or waiver of each of the following conditions precedent, each <br /> of which can only be waived in writing by the Developer: <br /> 3.3.1 Tide. The Developer agrees to accept the title to and conveyance of <br /> the City Property,pursuant to Section 2.3; <br /> 3.3.2 Due Diligence. T'he Developer delivers its Due Diligence Completion <br /> Notice to both the City and the Escrow Agent indicating the Developer's unconditional <br /> acceptance of the condition of the City Property, prior to the expiration of the Due Diligence <br /> Period; <br /> 3.3.3 Title Policv. The Title Company is, upon payment of the Title <br /> Company's standard premium for such an insurance policy, plus any supplements or <br /> endorsements requested by Developer pursuant to Section 3.9 of this Agreement, irrevocably and <br /> unconditionally committed to issue the Title Policy to the Developer, at the Close of Escrow; <br /> ' 3.3.4 Consistency Finding. The Planning Commission of the City has <br /> ' determined that the disposition of the City Property to the Developer pursuant to this Agreement <br /> is consistent with the City's General Plan, in accordance with Government Code Section 65402; <br /> 3.3.5 Approvals. Approval and issuance of all final discretionazy Approvals <br /> required from any Government Agency to construct, install or operate the Project on the Site, <br /> and the grading permit, in each case on terms and conditions reasonably acceptable to the <br /> ' Developer and all appeal periods have expired (provided however that Developer understands <br /> ' that City will not issue a grading permit between November 18 and 28, 2013, inclusive, and <br /> between December 15 and 25, 2013, inclusive), and the Developer shall have submatted all <br /> requisite materials to obtain a building permit foz the Project and City is prepared to issue <br /> building permits subject only to payment of applicable fees by Developer; <br /> 3.3.6 CEOA Documents. Final adoption, approval or certif'ication of the <br /> CEQA Documents, if any and all appeal periods have expired; <br /> 33.7 City Escrow Deposits. The City deposits all of the items into the <br /> Escrow required by Section 3.6; <br /> 3.3.8 SettlemendClosin� S�ment. The Developer approves the Escrow <br /> Agent's�nal estimated closing/settlement statement; <br /> 3.3.9 Culvert Relocation. The City has completed the relocation of the <br /> culvert off of the City Property; <br /> 3.3.10 City Parcel Map. The City has approved and recorded the Final Pazcel <br /> Map for the City Property in substantial and material conformance with Exhibit A; <br /> 3.3.11 Parkin� Covenant and A�reement. The parties have executed and <br /> deposited into Escrow the Parking Covenant and Agreement in substantially the form attached <br /> hereto as Exhibit I; <br /> 22 <br /> 2013.118/BLOCK 2 HUNTER STORM <br /> REV:07-26-13 PT <br />
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