HomeMy WebLinkAboutFFDA Properties DDA Fulton and Calaveras St Mixed Use Project/-•-r I t I I I-
I I ,'J I _
RE ··ORD ·1)A'I T HE REQUEST
H eo N R b 'ORDED RET N 0 :
'ity o f Fre .n
26 00 Fr esno treet
Fresno.CA 3 7_1
ttenti on :'it)'Manag r
Th is Agreement is recorded tU the requcst :nd for the benefit f'the 'il}'of'F resno und is c,erupt trom the payment o f
recording fee p ursuant 10 Government Code Sect ion 6 103.
rrv F F RES 6 .a municipal corporation
B )':~~
Dated:/tJ -Z.Z -I 2-
DI P sm NA ND D V "LOP tEN AGRE ~IE
By and Between
n ·TE IT F FRE
a muni cipal c rp ration
~andtn<.JM..0
0 ~:z:
(f)
W :c w FFDA Properti ,LL:>a..0::
I.&-a Cali mia Limited LiabilityW.o mpa nyco:.:U 0::
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-J~U u0>-.....
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D1 SI'OSITION AND DEVELOPM ENT AGREE MENT
By and A mong
CITY OF FRESNO
a m unicipal corporation
FFOA I'ROI'ERTIES,L1 .C
a California limi ted Liability Company
Fulton and Ca lavCr1l 5 Streets
Mixed Usc Resid ential Rental P roject
Fresno,Cali fornia 9372 1
II
•
~biiA
hhihil A-I
Exhibit 8
Exhibd C
hhibit D
EAhibi l E
Site M ar
Lqal lbRiphlXl
Scope of [)n~Iup'killl and ~Ibp
~Schrdt,k
Catlfocatc:of Cnmpk'llOll
Gnn<....
IJIS I'OSITIOS AN n 1J f.\'E L O I ·M f.~T A GREEM ENT
rbi s Disposition and (kove1ormcnl A~nt r llllA H or "Ag r ft men n is cntered into as
or the f:ffccti \'c 031':(ikfioed bel "..,,).bet....een C ITY Of fRES NO .a municiJlllI ccrpcratioe
("Ci l );and FFDA P ROPERT IES,LLC,a California Limited liability'Company (the
·'ll n r lu fM'r ;.
RH"lTA l."i
n.e part i es enter thi s A~nt based on the fo llo",~facts.tmderstandings.and
i mentions:
A .n.e C il)'c urrently o"'us certai n real ~'aJj accnt to ttH:-former ~kl.rol""'l i lan
M usc UlTl o f An in t he block bounded by Van Ne ss A vroue.S lanislaus S~f ult on Street,and
Ca1lI ..rnu S~Fresno,California.more plItti C\ll ar l)descr ibed in Ex hihilS -A"(Si le Map )and
~A -I ,"(legal d escription)attached (the "l'roperty ").
B.Developer p roJXl ses to purchase th e Property fro m C ity at fai r market ..aluc an d
dewl op it p rivately w ith mi xed uses cOI lS hlinll of al'Pro ximalely 69 multi-family residen ti al units
(nut less than 24 of t he re sident ial units Ii/"C to be rented an d preserved li S affmdd h lc rental huusing),
ami approximately 10,5%square feet o f c ommercial space,a...more particulurly desc ribed i n the
Scope nf'Develo pm e nt.attached lIS E xhlbil "B "(th e "P r njeet").
C.lk"elopcr agrees to u ndertake impro ve ments in acco rdance with the combi ned
Performance Se hL'duie described in E xhi !>i l "(.-attached here to and itK:(l l'JKl mtcd herein (the:
"Perfo rmance Sc hedu le").
D.This proj ect has been e n,,'il'\llUTK'nllllly assessed under'the C.ali fomia Environmmtal
Quality A C1 ('"C E Q A ")and found to becategorieal ly cxemp1 pursuanllo C EQA G uideli ncs ~n
I SJn (C I8S.'I 32).Nonce o f E xempt ion So.F201 100000sS was fil ed ..i th the Fnsno COUllty CIm.
on Man:h 14,20 11.
AGR£E.\IEST
In COMidenuioo of!he mutual J"l'OItli'ICS end covttW>1$and upoo the tenm and conditions set
forth in th is A ~reemem..!he parties llI!lft as folio...,,:
I .Dc finilioos.Iksklcs defini tions Wfllai ncd e15C"'ik~in this A~en t.!he
follo..in8 definitions will gO"'em the C<.>rJSlrUction.muning..a pplication and inlcrprelalion of the
defined kmlS,a$used in thi s Agreement.
1.1 @d."A D A~mean s th e Americans with DiSllt>i l ilies Act of 19'XI.
1.2 Al.'rccm ent .W AIU'-"ClII enC mC8J1 ~this DisplY.<i li"n and I ~vc l upme n t
A greement be tween C ily llIld r>cveloper.
LJ Q;rtificar...vfCymp lction.'"CmifKlllk o f Ctml pktion~m ...ans that
Certificate isseed in the form attached as E1Jlibi t 0 to [)c\-eIopcr~.Ciryevideecing romp/elion of
\he Projro fot ~o f this Agreemrnl.
I A ~'"Cil)·-tnean$the:C ily of Fresno,a munic ipal COflJ<.I"tion..
having its omen a l 2600 F resno Street,Fresno,C alifomia 93nl -360S,andoperarieg Ihrough ilS
Council and its various dcp.artmrn1S .
1.5 Closi ng.('lose or C loX o [E!>Cro\\o .-Clo ~ing ,"'"Clo~"cr -C lcse c r
Escro w"means the closing of th e escrow in which the C il)'conveys a fee i nte rest in the P ro perty 10
Develope r.
1.6 J1u',"Day,"wh cthcror nOI ca pital ized,m eans II cale ndar d ey.unless
oth erwise stated .
1.7 De fault ."De fault"m ea.uu a part)··s fa ilure to timely perform an)
action o r ccvenara req uired ~'lh i s A greemen t lo l lo\\o;nll notice and opportuni ty 10 c ure.
I -IS lk ye lom."Deve loper"means FFDA Properties,Ll.C,a Califo~
limi led l iability Company.
1.9 E.ffecti.·...1.>ate."E ffective Dar .....me&IU \hc dale that Cil)'$igns this
A ~L,aficT l>I:\eloper signs it ,
1.10 U!\·ironmentalyw'5."E.o .iroomentall.aw,;"means 811)'federal,5Ialc ,
Of local law,stal ute .Ol'd inancC'Of regul ation concerning environmental regu lation,co nllllnilllllion Of
cl eanu p o f any H u.anIous Ma terial s o r W ll-<I...i ncluding.without limitatjon,any !'lIl1'"or fcderal lien
or "su perli e n"law ,an )'env iro nmental d ellDup m illIe or regul atio n,o r an)'go ve rn mentally requ ired
perm it.a pproval,euthori ......l ion,license .vari ance o r pe rmission .
1.11 Escro w ,"Escro w"means th e escrow opene d with Esc row Ho lder for
City 10 convey a fee i ntef ~l in the Propert y 10 Dev eloper.
1.12 t:.serow !101m F..'I(row Hol dcr-rncarn firs t American T itle
C ompany.7625 N ,Palm Av ...n ue,S uite 101,FTC$llO ,CaJ iforrull Q17 11,AlIn :OOlm:l B rown .or
another l i tl...compiUl)'m utually satisfac lo l}'to both panics.
1.1 )lLu.ardou:s Mal( rial $,"Hazardous Malcriw"tneiUlS lID)'substance.
lTI3Ierial.Of'.....q e.which is Of b....omes regul ated by any local gD't'emmcntalal,l!hority,the Slat...of
California.Of'the United SUlt~Govcmrnml inc luding...ithout limitation.any materia!Of'
substancc:,whi eh i s :(a)de fined as a '"haurdom w...ste,~"U Dem...t:-'ha7.ardous waste,..Of'"'restricted
hanlrdous waste"WJdc:r Sections 25 115.251 17 ,or 2S 122 .7 ,or listed persuaetto Section 2 5 140 of
th...Cali fornia Hcalm and Sa f...I)'Code,(b)de fi ned as a "ha7.ardous 5UhsIanc e"under Section 25 3 16
o f the Califo rnia llcalth and Safety Code .(e)defined as a "hazardous material .""bazardcus
s UMl lU"lCC,~or ~h47.ardous W851e "under Sec uon 2S50 I o f the Cali fomia llc,lLhh anoJ Safety COOc:,ld)
d c fi ned lIS a "hazardous su hs umcc"under Section 2S 2S 1 o Ctile C a lifornia Health an d S afely C ode,
(e)petroleum ,(f)friable:lIS!>es los,(g)pol yehlurinulcd biphenyl,(11)listed under Article a or defined
8.,"hazardo us"o r "es lTC llll;:ly hamrdous"un de r Arti cle )I of Till e 22,California Admini ~tm li ve
••
Code,l i.l <ksignalcd lIS -haLanJous s ubst allCC'S-pli mlanllO Secncn l II o f the C ICIIfI Wa in"A c l (l l
U .Sc.§1317 j.0)d efined lIS a k h ilLan1"u-~'.'a'<l e -I"u tsuanllo Sect ion I CKJ.l o f the Res ..urce
Conso.""lIti o n a nd Recovery Ac t(4 2 U .S,c.§n901 et U ,/,o r{kl de fined as "hnz a rdcus s ubs tences"
1"1I l'SUllllt lo Section of the I 'om pn..hc nsi ve Etwiftlnrnental R"'SpOIlK ,C(lmpensation.IUId Liability
A c t (4 2 U.S .C .§91iO I,"....'/.);provided .however,ha7.Mdous ma terial s shall rIO l i ncl ude:(I)
co nstruction materials.gankning materials,ho\asd'oold pmd uct.s.o ffice lIUl'J'I~'pmduclSOI"janitorial
",pp ly products customarily used in the «lO'AA.JCtion.mainl<nana:.~hahil i la tion..or lJUWIgrnK'nl
of rnidential rmlal housi ng.m ix ed-usc.or commerc ial lkvtlopmmts or associated bu ild ings or
~o tlypical ly used in housC'bold ac tivi ties in Il"I'\l'lnIln"I}pical ofother moMkntial.miJr.cd-use
o r ccenmere iel de velopments w hich an:comparable to the Impro vancnlS;and (2 )certain s ubstaocn
Whi f;h m ay oo ntain c hemicals li sted by the State ofCali fomia pursuant to He alth lind Safety Code
S ection 25 249 ,et scq.,w hich s ubsta nces ar e co m monly used by a sign ific ant po rtion of t he
pop ulat io n livin g within t be re gion of the Pro perty.includ ing.but not limited to ,a lcoholic
beverages.asp irin.robecco prod ucts.Nutr.lS...ed.and iOC clwirte.
1.14 lI!lpro ..'m\eIlt5,-l m pro..eeems"mellOs the l:(JlIStnICtion o f tht
Projn:1 on the Property.
1.1 5 Outside Dale ,"'OulSide Date"means JlIIl uary 1.20ll,the last dille on
which the parties arc willi ng to Cl ose t be E sc ro w ,
1.16 P$rfo rtnllflCC Sc hedule ,"Performance Sc halulc "mCllfl.~the sc hedule
a ll.ac !l<:d as Exhibil C ,settin g forth the dates and ti~by wh ic h tlK partie s m ust accomplish certain
obligations tmJer thi s A green ....n t.1lK parties rnay l'l:'vi se the Schedule from nme 10 time on m utual
wrin ro agreement o f l)e,,-elope r and C it)"bu1 any del ay or ex lension of the compltticxt date is
subject 10 the m.juUnnmts in th is A[Ut'ClIICflt.
I.t 7 ~"P hase"means:a $l.a ge or poruon of the Project desi gnated by
De 1iel o JII.'T for construction ,A Phase rna)'no t con sist o fless than tIO entire re siden t ial ,m i!\ed-IlSt,or
commercial s truct ure.
1.18 rru je«.Projecl"mcwu the d e "'e lopmco l thai Dev eloper is 10
romplde on the PrOp<.'Tty and an)otT-si te im provemmts,all generall y described in the Scope o f
Development.an-:hed as E ),hjbil 8 .1lK Proj«t irx:ludt:s....i thout l Im itat ion,mixed uses~
of m ulti-family rnidmt ial un its,(tIUUIIIl ·floor rommen:ia1 space ,.&nd the associated landscaping.
JIllI'k ing improvemcnt.s.on-site i m provement$,and any o ff-si l e im prov_ ts that the C ity rnay
require lIS a COOlli tion to ill"J'I'{wing the P roj eel.The Proj ect may be d eveloped and const1UC ted in
o nt o r more l'h asc s ,Devt loper shall d evelop the Project s ubstamielly in the fonn and manner
prese nted herein .Any changes .revis ions.nmc ndm crus.or alterna t ions to t he Project (i ncl ud i ng the
number and type of residential units and amount o f C<J ffiJllerciai :<pac t ,and confij,'lII'8 lion Of layout o f
the SlUOC)desirtd by De vel oper shal l be s ubj ect to appro,'a!o f the C ity Managa",whi cb approval
W1 1 1lOC be uru"'ClL~y ",ithheld.In such ev ent,Deve toper !JIaI1 pro,-use C it),M ~er ",ith •
...riltc:n feqlJ('$l for a c hange 10 the Project ac comr'Wl iai b)'lO y supponing documental ion the
~'e loptf deems ....«'1')'.The C ity M_ ger sha/llnf'<>nd 10 the ...n nen feq~within 4 5 da)'S.
If no llCtion is wen by the ('it)Mana.~er within the 4 5-da)'peri od.the r .:quest shal l be deemed
approved .
,
U 9 Projtel CQmpktion~~P rojcct Compktion Date"meow ~dat t
that City shall ~\('drtnminfil thc'Project has feiK!led com pletion in ~with Itx'plans and
spo:ci lications in lhc:lX\'eJormrol Schedule .as evidenced by City's issuance of a Ccnilicalt of
C ompl etion,
1.20 rnllm:.··i'mpt'l1y~n)l:ans the real prolX""}'described in Exhibits A
and A -I.
1.21 Scc urj\y rinand~ill~"Security fi nancing Inte re st "means 8
security interest.which De veloper grants in its interest in the Property .before City iuucs arn.I
records a Release o f Construction Covenants,III seo;urc a debt.the proceeds 01"whkh Developer
uses III construelW Project .
2.CO?\YEYANCE OF D lE rROrERn-.C ity will COll\'cy the Propert),t o
Developer for the purchase price and 0Illhc:conditions 9CI forth mcin.
2.1 Purcbw Inss .De\---cloper will purchasethe f'l Oj<,tyfrnm City for.
p urch.u e price ofS6}4.000r·P u rt h .~Pri«").The flodoJ!er s ha ll plIy!he r UTt M.<c f>ricc upon
lhc:C lose o f Escrow .Shoul d environmental mi ligat ion he requin;d 10 comj'llcte the Project as
s pecified herrin ,II'a re sult o f a Phase I or P hase 11 Enviro nmental Site Asses..'men t.C ity shall
provide De veloper II cre dit fo r cue-half of the actual cost o f such mitigation m easur es.u p 10 a
maximum c redi t o f$17,500 liS provided i n Section 2.9.1 her ein.Su ch credit s hall he tak en from th e
Purchase P ri ce unless otherwise agreed upon in wriling by the Parties.
Subjcct 10 a pproval o f al ley vacalion by tbe goveming body of the C i lY o f fresno.lhc:
Pu rc hase Price is deemed 10 include a portion o f !he existing alley Iocaled on !he Prepeny,except:
that Cit)·shall main II utiliI)"easement to said existing alley,as ITlOfe srcciflCBil)'Sd fOltb in &.hibtt
A-I hereto.Fo[Jo"ing and SUf'iving the Close of Escrow .City CO\ctWl ts 10 usc good faith elTorts
10 COllpeflIle \l.; tb I}e-\-e)oper in \·acating sucb portion of the alley as Dne!op:r deans nevsSll")'for
the Projl('l;1.;provided,no...l"Vn ,C ity UIaII retnin it'fullilovemmental discretion 10 ro~idc r!he
vac ation on its m eril and in acrordanl.-e wi th a rpliellble law .
2.2 ~.W ithin I S da ys liner Ihc EITec l ive Date o f thi s AgfOl:ment.
City WId t he Devel oper w ill o pe n an Es crow with th e Esc row Hold er ,an d deposit a s ignc-d C('py of
thi s Agrecment as th eir ini tial j oint e sc row i nst ra ctions.City und the De velope r w ill sign lilly
s upplemental escrow i ns~tiorn.,consist ent wit h th is A greement.that the Esc row Ii oider or e ithc r
pany he relO deems necessary or appropriale .Th is Ag reement will control any im:oMislC11Cy that
mil}'exist between th is Agrcernc:n l and !he supplmlmlD.!escrow ills!lUCtions.The partie:!aLllhorize
the Escrow 1I01<Jer 10 ac1 under Ihe escrow insuul:1i0l1:'ll and.after Ihe Escrow Hol der lIC'CqllS the
instructions in writing.it will CllrT}.oul its d uties as Escrow Holder under liti s A g;r eemenl .
2.3 Coo4itioos~!to Cl osing EIfffi".The foll o"i ng are
conditiom piee«knl 10 City 'S obligations 10 dose Itx'Escrow and com-ey !he Propcny 10 !he
Deve loper and the Dnd opc:r's ob lill31ion 10 purchase and a.:cept:co o\'C)lln(;eofJhc Prorct!)'from
Ci ty .These condi tions must he sa t isfied or waived by th e time staled o r ,i f no ume is SUl tN,thcn
by th e O utside D lIte SCI fo r the Cln.ing .
,
2.3,I Cjl)Condilions 1llf:Clos~issubjm ....1he fulfil lment
of -.:h of thr conditions prece.klll ~bed ~Iov.',wh ich are wid}'for 1M hmr:fi l of Cily and
...hKh Wli be fulfilkd.oomi5lall ...ith the b.hihil C PMOr"........Sdleduk (If ....~~prior ID close
ufnauw:
A .'wnw ,(lroclopcol bas<kli ~~IDCity,-.iCityt.sIlppO'o'C'd lhc
fonrr and QODImI of.~of insurWlCe for all IZDUIWIU lh.1t this
Agl cc"c.1I reqwrn I)e,.doptt 10 otum...t mIinlar.ll-
B.;.!obqof~PJPl 9T\·('Cftidjoo ~"'Ji~'CD"'ritten
notice 10 eft)IbM It bas ill"led !he Pl opdt)-.i.ex~as pmided in
Scaion 1 .9 .llICttpts.lhc PIopcllYmAS IS conditioa.lftt.:[)r,dopa.after
iu insp«tion of !he PropcrI}'-:I ~~.of any CIl~-inxunaltaI reports,
d iSliJ'lij o WCS lbc PI "l "'I1~'I m w u nmcnw or 0Ibcr c:maJitim,and Cit}·is
either unwi llilll or unable to cure !he conditioo 10 which the I'kvclopcr
o~cets.thm the:Ilre ~d opcr or Ci ly nJa}"lcnninate thi$A greemenl h)'..riflCl1
norice t o tbe ct ber party and ""lhouI liability for breach o r o~i lC .
C.N Q lXfa\l!l .Dc:v c loper is no l in dcfauh o f thi s A gm:menl and a ll
represen tations ~n d wliJ1lllllies of Developer ccmamed herem are tru e and
correct in a ll m aterial respects .
2 .3.2 lXydQpq Q mdjtions.The C losins is suhjec I 10 the
fu lfillmcnt o r waiver by the Developer of clICh o f the conditions precedent described helow,whic h
are IOlcly for lhc bmefil of tho:Developer and whic h dIaI l be fulfilled coruillmt with the hhibi l C
Pafonnancc Schedule.or waived prl<Jf 10 clO1C of C1CI'Ow.
A.Condi tioa ofTit!c.Dc:velop:r bas appm.'C'd the conrJ ,lion of tille 10
the PIOPCft)'rur-N to this p.ragrapb A.City Wli obIaiD •prdimirw}o
tide n:port and tranImit.eopy 10 ~~flOC larcr dwt fitlftn I l SI cb)'1
folJo ..int!the EIf~n.~0...~r sba111IObfy City in ..nriDc ..ilhiD
fiftcca (I S)~ana-l we~of.~o hbc Jftl i:lni ..-y m it:~..'bctbct
illlJ'rfV"o tbc C<.lCld>tiaII o f 1itIe .~~·s raJ 1ft'10 ~suc:h aotice
..ilhin fi ftca.(1~1 cb~...ill be 1 mal ~oClbc ~tioaofIlUC .If
DcYdopa 1IObrJCS City lbal iI:chsapj _Oi.-n -.y lillena:plDi.Cit)~.but:
is 001 obIigllCd IlO,.I'ml9"iC Ibal litle n.ccption ..'!thin fiftcm (IS,d.ys atla'
,u;cil'l of [)r,dllp (l'S ..Tillell lllOticoc .If CRy eMikil or doa DOl ded fl)
TmJll\~.,d isati ijO,ed lille ex cqltion or give _of f'l::lDl:JWI
SlIlis f.aewy WI Dn dOPCI ...irhiD Ibal pcriod..lkwiopl:r wiU hlI w 1m (10)
busincss dliys aftcf"lbc n.pi..-ion o f such fifteen (I SJ day rcriod 10 ci lba
gi .,c City ...TiltC'll nnticc Ibal ~dopcr el ccts to f"IlI'd-c the Pl "lOCl1 y subjca
10 tbc di~lille C'1l0C'flri0ns or10 terminate thi s AIP«:I,cnl.!)cvd"liCl
~'objcc:ts 10 .n li tle defect$,hen s,mcumt'l1uJcc's.and mortgages
e \l dencin@.I nlOllClaIy n hliSll ion.o ther !han non -ddaulted real propary
IaJl;CS and .-:ssmetlIS,The cllccptions 10 title aprn'\'n1 by Dc:\"e1o ~as
provided herei n s hlil l be re f..rred to Il.~the ''Condition o f Title."lhc
Developer s hall have lhe righ t 10 Dp proV!.'0 1 li i""ppro\'C Illly further
e xce ptions reported by the title compan~'nnl.'r lhe l.lt:wlu flC r ha.~ep prcved,
the Condition o f T ill~for Inc:Property (which lII'e 001 created by Inc:
[),,>ve lo per).l1lc Cny shall nm volwllaril)'create any ne w exceptions to li tle
following the:dal e of this Agreemenl and prior 10 the C losing.
B.Im pection.U«aU5l:'City will convey fee uue o f the:Property to
Developer ~A S IS.-...ilh all faults.e xcept as sp..-cilically provided herrin Isee
Section 2.9.11 .for .1 period of 60 days afte r the Effective Oat~of this
Agreerem (the:"Re view Pericd"], Developer or its designated
representatives m.ay conduct 1CStS ,in\ cstigations and illSpections of thc:
Property in al l mallCTS relating 10 the I'ropcrt),including,but not lirni lCd 10.
!be ph)'$ieal condilion or SUtc of the:Property and im prm'emmu tbereen,
cmimfUTlCTllal cond itions.inc luding Phase I and Pha..<e II e nvironmental
assessrnerur...and al l othc:t ma lton n:1.1ting 10 the Pro perty or an)'
impro\'Cfl'\CfIU th ereon o r a ffecting De veloper o r thc:fea.~ihi l il y'o f thc:
Property for the Proj ect (~I)uc D iligence In\·csl il1 atiol'l~l .If.for any reason.
Dev cloper is d is sat is fied ,in De veloper's sole and absolute di scretion....'i th
l11 c re sults of th e Du e Diligence Investigation,Oeve illpef §hII l1 p rovide
writte n notice of disapproval of tho:D ue D i l ig=Investigauon to the City
an d Es crow Holde r.S uch ....nnen n otice u f d i sa pp roval s hall be:provi ded
prior 10 the expiration o fthc R e view Period.an d will co ns t itute D.'ve!o pcr 's
notice 10 terminate pursuant 10 Sec tion 2 .3.3.be low ,In c onsideration o f
Developer 's rig ht to c ond uct the O U ~Diligence Inve stigation.incl uding tho;
orrortunity 10 n:vi ~w ,inspect an d e xamine th e P ro perty i n its so le an d
ab solute discre tion.De veloper shal l in al l circums tances ptly 10 lhc C ity
S100.00.which sum sha ll be:a ppl icable 10 the Purtha.<.e Pri ce .
De"elopcr has the ri ghl to ernet the Propcrt)"10 CoodlK l the Due D ilige nce
In vestiga tion on th e folknooing conditions:(a)the lnts.i nvntilla t ions and
inspediom an:'rondllCled by the Dev el oper \Ooithout cost 01"UJ'Cfl-<.e to C il).
(bl the tests.in vcstiptions and i nspcctions do not ~yin lcrfcre wi th
City's poMeSSion 01"U50C o f the Pt opc ny.and (c)Dne loper ...ill ILSSIllllC
responsibi lity fOl"any loss or l ial>i lity and fO!"any damalte 10 the Property to
the exlenl mulling from wndu:ting the tests.invesligatiuns 01"~ons.
W ithin ten day..from the:E ffecti\"C Date .City 'shall dcli\-o:l"10 Developer an y
and .11 thm-el,~ng p lllOS,mgincl:ring I(,__Is.SW'~maps.soil 01"seism ic
reports,grading plans.o:l"w ironmental rep<>fb and 8.Uessmmts.and other
stud ies. 1q'O'U.oorrnpundcncc 01"malerials CfII'lC eming the Propcny or 8lIy
impro\Tmrnls thcn:on (the ~Ma terialsj.lbc Ma lerials may incl ude....itbcruI
limitation.lhe follo ...i ng:(i)copies o f any en\iroommlll repo rts o r
m\ironmm""sile a-'iSl"$sm enU or any o ther repun rcl aling to toxic or
hazardo us malcnals or the environmemal condi1ion of lhc Prope rty o r
improve me nts;(ii)engi neeri ng st ud ies.ma ps and Cll51 reponstsewee.wa ter,
hy drology,s wnn tl rai n,flood Cil nlrul,FE MA.ulili l ics.truffle and noiJe);(iii)
soils.geo logy a nd seis mic re port s;(iv )cu\'cnanls.conditions lind rc slric lioos,
if lin)',regardin g t he Property;(v )arc haeological ~l u dic~and re ports:(vi)10
th e e xtent nlll d l"sc ribc<.lll hu ve.gra ding. er osion control .....a le r.se w ...r.st orm
,
drain.SU'U'I i mp....w anmt.1.and:lcape and utiliry improYmll:flI plans:t vi iI lUI)'
other documenl$or matniAis ..h ich Ci l)'~<.If ..m ch ere n'Ol$(lnabl y
an.ilab1c 10 C i l ~'and ...lW.:h De veloper req UC5lJ in wri ting orCity detmnirn.
in its.fc:MOfJa b1c judlffilo:nl .are Jignificanl 10 the:C\·a1uati(ln (If usc:o f the:
Prop..'I1~.
C ity mak es no I't'"JlfCK nllllion or w3mllliJi oona:ming.and ..ill have no
liabi l if)·or ~pon~lbi li l y fo r .t he Matrnal s or lho:i nformat ion contained
therein .
C.No Ikfau ll.City shall nOI be:in default of any provi sion of th i s
Agreement and a ll rcpresc ntllU OJ IS an d ....'lllrdllties of C ily co nlllined herein Me
true and correct in all materiel aspects .
lJ .No Litigation.Th ere shall be no lil iga t io n pcooing with re !<f'eC t to
th is Agreement.any land use ,zoning,d evelopment or building pc:rmilll or
enti tlements jo r the:developmc:nt con t emplated b)'this Agree-rnent Of
encumbering ti tle II)!he Property ,Iht outcome of ....b ich could materially
interfere ..i lb the dntlopmmt o f the Property as xt fOt'th hnrin.
2.D TmninaLiOD f(l{fail ute o fCondjt jro.In tbtt\-'ent \b:n:is
a fDilute o f one or 1TK>n:oonditionsdc:scribtd i n S«ti9l12.3.1 or 2 .3.2 thai ere noI waived.the party
(or ..bose bendil!he condition is establ ished may t=lna.U'thi s AgTl:C111tllt b)....nncn notice t o the
other pany prior to the Closing.in ..hich tv'rnl this Agreement shall termieate and no part).shall
hsve all)'further rights o r l iabilif)'to the:other under this Agreemtnl .
2 .4 l'-K ro ..·and I jtlc Costs.The Developer aud l'il)'~lud l each p;ry 50%
of escm...fee-s.m:ording fee s,and documentary stamp taxes,i f allY ,t u cunvey the Pro perty to
De vel uJ'C'r .City shall pay t he porti on o f the premium (or an ALTA s tandard c wncr's po licy of t itle
i nsurance with co ve rage nnl e xceeding th c Purchase Pri ce,insuring the title t o the Property a.~
desc ribed herei n .Th e IN \ltl opcr sha ll pay the port ion of the premium for an AL TA e xtended
owner's pol icy o f l itlc ins urance o r an y s pecial endorsements required by lJcve lo pcr.Any o ther
costs associ ated with the:E5CroW s hall be paid by Ci ty o r the Developer eccording to thccuslom and
peac uce in F ~Coun!}',a.~declared by !he Escrow Hctder .
2 .5 P l'Q@tiy ns .The Esc",,,,Hol&,-.';1I prorate aU ad valorem tax es and
usrs!>Dle'Ots,if an)',L\o f !he Closi ng,betweo:n C ity and the Develope .If thc thaKum:nt taxes and
assessments.ere 001.asunainahk,the Escrow A~I will apportion thc taxes and ~ts bu.sc:d
on the most n:caIt 5L11t'mmt of taxes and assnmJe-tll$.Escrow I l o kkr wi ll adjUSlIht pronItion,if
nett5Mry,...ilhin 30 days after the actuaIlalles and '5VSsmmts.~a ....ilahle .Developer ..ill be
!lOkI)'responsible Cor ad \o-"llI orem taxes or ~ts O.D the Pro l'o:rty,or eny taxes on lbi s
Agreement or any ri ghl$brn:under,...hie-h may be levied.assessed or i m posed for any period a fter
the Closi ng .
2 .6 Fo rm ofl:>ccd.Ci ty ..i ll ron~'ey the P ropclty 10 t he Dv:~'el 0 J'l..r by a
Ci rnn l Deed.substantially in th e f orm a ttached here to &'l Exhibit E ,The con\'eyDllC('and.Developer's
title "ill be subj ect t u all cunduions.covenants.res trict ions IIIld req uireme nt.'!s ct fo rth in lhis
A grcemc nl.and the O l anl Deed.
7
2.1 Non~r .Prior 10 the issuance ofa C enil'kate o fCom ple:t ion.the:
prov isioos o f this Agrttmc:nt will nOI mc:1"1!!C:"'llh t he:Grant Deed The:Gram Deed ",i lll1()(affect.
impair or Ilmi l the prov isions,coverems,condi l ions o r agreements o f thi s A~ml .
2 .&Po ssession.Cil)·willdeliver exclusive ~K>nofthc:P ropc:n~i lO
Do:\c:l~a t or i m mediately following the:Closing.
2.9 Sale:~AS IS"-;-';0 Wammio .Subject 10 !he:rmvisionsof Section
2 .9.1,Cily will con"'-c:y the:P roperty ~A S IS ~with all fauIts ,including,",imout lim itation,lbc:
c:ondilions disclosed in an)·Iox iC$reporu delivered 10 Devejopce,any c:oodil~di~c:IMed i n lbc:
files.o f the:~tOfS suc:h.as,but notlimill;'(!10 ,the:Fn=soo Counl)·ll eaIlb Do:p.rnnm l,and the:
Regto nal Watel Quality Control Board,anJ any Cfl \-Uonmental Of Olhc:r ph )~eal c:ondiltoRS on o r
unde r the ''ropal)'.buried de bris or stnll;1un:s,and Solil c:orn paction.pl cxncc o f Haarduus
M atcOllls or the:condition o f thc soil.ill;~c:u l og),the pn:so.'l1CC ofknown Of unkoo..n scismic faults.
and the $llita bility o f the P rope rt y fo r the d c:\-eloprnent purposes intended hcmInder.
2.9 .1 Rem ediation C redit.No ""'i!hstanding the:aforementioned
and fo llowi ng o.:-velo pe(s wmplC:linn o f it...environmental assessme nt,s hould De veloper d i scover
pri o 10 or in conneclion y.ilh thc c xet:ul io n o f the P rojec t and Scope o f D e vel opm e nt that
rcm c:d i81iolL i s rcquin:d 10 mitig81c envimnmer aal im pac t to less than si gni ficant.City s hall credir
D c:vd ofll'r lu r o n",-ha lf (I/2 )o f the e ctu nl cost o f s uch remedialiun.up 10 1I m aximum c redit of
S31,SUO .-111e aforementioned credit shall he take n fro m the P urch ase Price.unlcss c the rwise egreed
in w riti ng by the Parti n .If th e actual eom o f remediation is unk nuy.lI althe close o f escrow,t he
remediation credit shall he based upon a reasonable estimate p rovided to the C ity i n wri t ing by
[XvelopcT 's e nvironm e ntal censultant,which estimat e shall be:subjecl lo vcri fl<:a t iun upo n n ecutioo
o f Ibe m it igation m easuees .Oe \'elopc:t shall prmidc:City with proof o f remediation expense with in a
rea W1lllb le time following the dose of escrow.Developer shall only be:en titled 10 cn:dil fo t adual
remed iation costs incurred and shall be:so le ly responsi ble fo r al l costs o f n:-mc:diation e xcc:c:di ng
S1S,OOO _
2 .10 Close of F ...row .Tbe gscrow ",ill close withi n )0 daY'att ~lhe:
panics salis!)·al l the condilion$prn:edc:n tlo Closing as SCl:fonh in Ibis AglWlletrt,hut IlOt later
!tun the '"O!l lSidc:Dat e .~unless Ihc:particll m utlDlily ~to ex tend the time:for Closing.
2 .1\Aulbority p(E,......,.,.II9Idct.The panic::uLJthm.1e Ihc:F__tauw Holda-
10.and Ihc:Escrow H older ..ill do the fo il_ins:
A .Titl e pp liO'P rgnjUIIL r.y and e bar1c:City and Dn'Cl oper,respcclivc:ly,(or
Ihc:tit le:insueeece peemi ums desc ribed in Section 2.4 o f th is A~
R.p ay F C('s .Pa)'and c haqte the:De veloper and C ity equal 50%share of the
esc row fCC'S and c losing 005ts.c,c:luding an )costs IOCO ITCC I l it le ex<xpUons o r c ure
p roperty conditions.Ci t)and J)c:v eloper rnast agree i n sc:paru te writing o r
in structio ns10th e Escrow Helde r 10 the all oc ati on o f co sts 10 cure ti tle e xceptions Of
p ro perty c ond itio ns :p tl.w idl-d,ho wever,thaI C ity sha ll.at itg so te CO!l\and expense ,
cle ar 011 li en ~nide ncing mon etary en c umbra nces (lI th ~than liens fo r non-
de l i nq uent p roperty tax es ].
•
C.R,;wnl Gran1..Ps'ed and Di$bursc Funds.Di ~fund s from the Purchase
Pri ce.and record and del ivn the G ranl Deed to the &f'IHO pri ale put}'...hen lh<:-
condi tions p~eedenl 10 Clo$ing Mt'l'lI t is fied or ..."i\'ed .
D ,Ac tions to [yllill O b li gatio n,l;.T ake an y oth e r lSl:t ion ne<:e s'WIf}'10 fulfill ils
ob i igntions undcr this Agrc...merit .
E.I'I RPIA.an d Mme.D irect the parties 10 d el i ...e r all}'instrument.or 10
pcrfonn llJl}'ac t,~to comply wi th FlRPTA or an}'si milar Slale act and
~Ii""prom ul ga l ed ~,Cil)'...iU s ign.Certificate o f Non-foceign
Stmls.or.Certi fKalion ofCotnpliance ""itb Real ENk Reporting Requirctnnll of
the 19&6 T IlIl Reform Act M 1M Escrow Itoldtt lntl)'req uite .
F.C lys ing and Other Statemcnl.).P re ~and fi le ...i th a ll a ppropriate
go......rnm en tal or ta xing euthoritles a uniform se ulement sta tement,dosi ng statement,
tax wi lhhu ldi n ~form s incl uding,wi thout llmitatlon,an I RS 100 '1 -S form,and he
responsible for ...ithholdi ng tax es.if the law so requires .
G .Closing S lalO;mcnlJ.Escrow Il o lder ...ill forward 10 bot.b De\do(lel'and eit),
a ~le ~unlin"o fall funds ~ci vN and d isbuncd for each party,and copies
o f all si gned and I1».'>r\kd rJuo.:umen lS deposited into Escrc.......i th the fI=lI'd ing and
m inI!4ate and i nformat ioo endo.med thereon.
H .!qmjnal iQ lI Wi thoul C lose .Iftbc Escrow is not in condi tion to closc b)'the
O utsi de D ate,then an y party that is no l in defeu ho f this Agreement,ma )'demand the
return o f mone y or propert y and terminate thi s A greem e nt an d th e Escrow.Ife hher
part y makes a wnucn de man d for r etum ofdocumems o r properti es ,t his A greemen t
wi ll not terminate unti l five da}"s a fln Escr ow Ho lu cr has delivered copies of th e
demand 10 theotbcr pany at the respective aJdn:sses sho""ll in lhi sAgrttmcnI.If thc
other part y obj ects ...ithin the fh 'e-day period.the panies authoriu the Escrc ...
Holder 10 bold all pap<'I'5 and documen ts until i nsuucted by a coun o f oompctent
j urisdiction or by m utual .....ri tten ID5uu<:tions o f the parties.T mninatioo of this
Agr«mmt ...ill be .....i thout prejud i«10 ....-halnn Iepi rignu ci thcf puty may ha\'l:
aga inst the other ari s inll from thi s Agroern ent .If no plitt)'dl:11W1ds that the f.scro ...
terminate ,the Esc row Il olJ c-r ...i ll proceed 10 Closing .u soon as po s sible.
2.12 Cit l 's A..ut hority to Sign !Jl~lru!:!j!J!!S Wld Documents.The C ity
Manager o r his de sig nee is euthorized to e xecute any 'lU pp lemental e ~ruw instructions for C ity lha t
are no l •materia!change hereto.Th e l'ily M anager o r his desi gnee IUD)make minor mod ifications.
not constituting a materi a!c hange,10 !his Agt .....menl,Exhibits and the documents Ide lu ...~
herein,10 e ffcct the opening and Close o f the Escro...'.
2 ,13 A CRSS Pri or 10 Con\'C'\1IIICC"Prioc 10 the COD\'eyanot'o (title from
Cil)',representatives e f Deve lope-shall h.a\"t'the righ t o f lICCCS5 to the Property at aI l la§Ollllblc
limn fllr the J>UITIOl't'of o htainin g dal3 and mak in g aun'l:)-'s and tests nocc.ssary 10 carry out this
Ap-caJlCflI.The De vetope r s ha ll hol d C il}luunt lcss fO I an )'inj Uf)'o r damages ari si ng OUI of any
ac ti ...ity pur,ualll t ll this Section.t h e Dc vc lo pcr s ha ll ha ve ec cess to 11 11 data and informatlnn on th e
P ropert y available to Ci ty ,hu t wit ho llt warranty or rep resen tation h y C ity as to t he co rnpletenesa.,
correctness or \a1idi[)'of s uch data and informalitJll-An~'[lRlimillllf)'"'00.otbct than mxk in
eonn«tioo ...ith Oc\e!oper's Duo:Diligm.:e Invrnigation.undo:nal:en on tho:P'topo:ny by tho:
De\e1opo."f p rior 10 oo nvl:}'llTICC"o f I1lIo:tht.wo .shall be dono:only .ftet ...ritten com.o:n l o f C ity ,
5atisfoc liun o fCi l}impused oondiliOfl'l includinl;"lUloullimiL:llion o:1oi do:rol:c of rea!oOOo1bly required
insurarn:c e<lvo:ra~o:(s).al l :lllhe sole ex pense u ftho:lk\ e loper.The De \'dopcr lhall save and
p rotect ('it)·aga i ltS l an y daims o r liens resulting Itom s uch p reliminary wo rk,access o r usc:o f Ihc:
P ropen)'.Copies o f tho:dat a,s urveys and tests obtained or made by th e Devel oper o n th e Property
shnllbc ti l,'d with City.A ny p reliminary work by lh c Developer s hall he un d~"f1 llh'n on ly a fter
sec uring IIny nece ssary permits frnm the approp riate go ve rnmental a gencies,
J .PROJ !:l'T DE VELOPMENT
J .I ID9te Dc velo pmrnt Prom Revisi on of Projeo:t .£lo:,.'e1 opet"will
e omplete tho:Proj ro as described i n tho:Scope of ()o:vo:lo pmenl usinll:WfIncton l inonKd 10 do
business in California.Ex cept u may be expreSllly provided bereie,1le\-o:10fIet shall not begin
COIlSlr\Irtiol'Of pOO"orm any other "ork on tho:Pl'OIlC n)'Wltil aftet Ck>5ing.lI o...e ver.tho:part ies
agree that in tho:eve m tha i Dc \-o:lo per ~l fail 10 receive all or an)ma tc:rial prntion of the
$3,500,000 .00 o f loans from the R ~e10pm0:nt Agency of the Ci ly of Fresno i RDAM
)or its
s uccessor as contemplated by'tho:OWll<:r Perticipa uon A rpttmmt ("OPA ")between De veloper and
th e RnA ..th en t he Proj ec t and Se oP'C of De velopm en t contemplated b)'t his Agrecme nt slwll he
renegotiated and r ed efi ned in a manne r consiste nt wi th a sc aled do ....lt Project and Sc ope of
De velopment (and the rela ted Pe r formance Sche dul e)taking into acc ount the amount u f t he loan
fun ds no l rec eived b y Developer fro m the RDA or us s uccessor ,An y s uch change s hall be set fonh
in a writte n ameedment to th is A gree ment.If the pani~cannot IIgI'C('on a revi sed l 'fI)ja:t and
Scope o f De velopment wi thin a reasonable period o f ti me IlOl 10 ex ceed 1110 d.~}ll undef suc h
ei~tho:revised Proj ro and Scopeo(Oo:1o'elopment shaJI toe detenniDed by artoi tnti_in
acccrda ncc ....ith the rul es and procedures o f tho:Amo:ric:an Arbi tration A ssociation or .i f I )ro:l,e1opa
shal l 50 elect.tbt purchase I.Ild s.lcofthe r eal property shal l be rescinded and th ;sA~t (and
the O PA)shal l be o:tlIlCell ed and the:real property shal l be rcwn'T}-cd 10 the Ci ty and all funds
pmo;O)O$Jy raid by ne-.'e1 oper to Ci ly or otheno-i x relaled to th is Agm:ment or tho:f'rojro Wl i
cof1c urmllly IlC refunded 10 lk\'el opet su ch that the parti es s hal l be rt'SIoral to their o riginal
po sitioltS pri or to l ho:ex ecuti C>l\o f th is Agreoemenl 10 t ho:greatest extent possi ble.
J.2 TI me for C ompleljon "fl hs:Project.C ity ....ill co nvey tho:Pro perty to
De veloper for co nstruct ion o f the Project.an d not for llpeeolatioo in re al es tate.Therefore,t he
De vel o per ....i ll begin c Ol1!ltru ction by the d ate provided in t he Performance Sc hedule,an d will
dil igently comple te t h e P roj ec t lICOOfd inl!10 the Pet10 nnance Sc hedule .or by anyotherdatc Il5 the
parti es ma y agm:in ...Tin en exlCltSi on s i gned by the peru es and SU bjecl lO any ex t ension o f time
pI1J\ido:d for in Sec tion J .J.
J.J Extension of T ime for Completion.In addition to the specific
provisiOfl!l o f this A gn:o:mml.performance:by any pany ho:mmdo:r shal l 001 be do:aned 10 be in
defaolt ..bert-delays or de firults an:doe to ....ar,i nswn:clion;strikes;loc k-outs;riots;noods:
e anbq uekcs;fi res ;casual ties:8l:ts o f God ;acUi of the J'IIblic rnemy ;epi demics;quarantine
restrict ions:fn:ighl C'TlIbnrg ~:lad of tnmsportation;gove mmmtJll re strictions or p ri ority;
l itiga l ion :un usually se vere wC3lher;i nability to Sl"C UI"C ncce s....-ny lahot,m aterials o r t oo ls :del a ys o f
any contractor.s obcontr acto r or supplie r;ac ts "f enotbcr part y:act s o r th e failure to lIet o f any
public or gov eron'ental agency o r e nti ty o r any o ther causes be yond t hs:control o r ...'ithout th e fault
10
of tho:part)'claiming an extm5ioo of lImo:to perform .An extension oftime for any sucll C'aIL'll:!iball
only he:for the pfflod o f the mfl'rl:~dela.~·.wnidl period wU ~to run from the limo:of
lho:tommmcnncni of thor CIlU5C:.If.ho"'-e\a.oolite:by tbe part y claim ing SUl:h n tmsion j,sav 10
the other party IOOR'than th i rt~·(30)days a fter thor comm encement of tho:cause.the period shall
commence 10 run only thirty (101 da)'s pri or 10 the g i...ing of soc h notice .Tim es o f performance
un der th is Agrrc:mem ma y also he:extend ed in ..Tiling by C ity and !he De ...eloper.Cil)-'M MlIgtt,on
beh alfof Ci ty,m ay gr ant ex te nsiont s )w hich curnulati vely do n ot exceed one:hund red e ighty (180)
d ays,an y ad d itional e xtension sh all req uire Ci ty C ouncil app ro val.
3,4 ('cr1j!jcate o f ComrJetjon.A fte r Developer has S3ti~fac loril)'
completed II Phase o f the:Project according 10 this Agreemrnt and a lla th e eomplc1ion o ftht linal
Phase o f the Project ,Dc-\-dopc1'may ass.City t o m:onI a Certificate:o f Compltlion inditating thai a
Phase orthal all Phases ~romp le te .5U"stantilllly in the form Illadled u Exhibi l D .For JllIll'O!>O
of this :otdion.rkvelopcT's sul:lmis.<;ion o f a -safe to OcC1Jpy~CfflifiClllC:(II"("ffli flCllte of
Occupancy for the:l mpro vemerus ...i thin the suh;ject Philsc of the:P reject shall be:conclusive
e viceece ihaI Iltwlcoper has satisfac lori~'tomrlc:ttd those tmpecvemees.Suh;jed to the
satisfaction o f tho:conditions 10 us issuance:(5«l'lC'l<1 5u b:ltdionl and with in ten days o f such
req ut'tt.Ci l)'s hallprovide an instrume nt cntif)i ng Otvdoper's complc1ion o f tbe Projtet.or any
Phase:thereof.by pre parin g and recordi ng the C e rtificate o f C'ompltlio n .Th is R'1ea.'IC ,when
reco rd ed ,..i ll evi dence r i ty '~co nclusive d etermination th at De veloper has satisfied the
construct io n covenants i n t his A gn:.·mc nl as to t he:s ubject Phas e o f t he Proj ect.The relea.<.e will nnl
be e vldcnce tha t De velope r has com plied ..i ib or satis fi ed a ny obligation to any pe rso n ho ld ing a
deed o f 1rU.~or Sec urity Financ in g Interest.Tbe re lease shal l no l term inate rkveloptT's
ind cmnilica li on o r odler ohl iga l ions.....n ich b)'thei r narure an:inteodtd 10 survive Project
compl ttion_Alkr the release is ~o nkd in the:Offi cial R ec-o rds orF rcsno C ounty ,any J"lII'lY then
o wning o r a lkr thai pun:basing.Ieltii ng or othmvi~acquiring any intaest in the appI icahlt portion
of the PU'Ilt rty shall 001 (bc:cau.sc:of 5llCh o wnershi p ,purchase,'-or acquisition)incur lin)'
obli gaLiOll or liability under'thi,AI1J'CCllltn I rqard ing the ronsuuction requin:mtnts Of Project
dt\'elopmml o f the completed Projc:a.
3 .5 C undilions 10 Issuing !he Csnificatc orCom['letion.The rollo ..ing
an:a ll cond it ions precedent 10 C ily iss uing the Ccrti licmc o f Completion fo r the Proj ~t.o r any
Pha.'IC thereof,and eac h s ubmission will bC'in Q fo rm and substance satisfactory tc City:
A ,E vid enc e th at a ll m echanic s'lie ns o r mat erial men's lien s lind claims
reco rded against the:Prope rty.o r an y Phase thereof,and the:Prciect l mprc ...e me e ts
thai art the 5ubjec l o f the Certi fica te:o fC'ompktion ha ve bee n unoo nditio nally llDd
Ii nal ly releasN o r,if 001 re lca.-t sutT'>eien tly bondnt -.:ainsl as requin:d bJ.'Iaw.
3 .6 urns and SW'NOIisn.If a claim of li m Of t>ondc:d Slop eoeee is
recoroed againsl tho:Pl q lt il...or;any Project imprm e ult u!S,the IK-.-e!oJ'cr ,..ithin 9 1 ~.,after tIw,
or ...ithin li \-e days attn-Cil)"dmtarw.l whi<;k'lItt'IalIt 0ttUf'$,....ill rJo tho:follo...ing;
A .Pa)'o r d io;c bargt the same;o r
H,Effect the release of i t b}rec ording and delivering I "Ci ty a surely 's release
bond in sufficien t fonn a nd amount ,or o therwise;or
"
C .Give C ily o ther a.o;suran ce loot Ci ly .in us so le discretion,deems satisfactory
W Pfut<C l Cily "",m tho:e lT« t of tbe l im.claim Of bonded Sl op IWl liec'.
3 .7 AMuaI Pruofoflnsur.mce.Aml.Jal I ).~",ithcurnmenccmml
of construction o f tho:Project.and continuing until tho:issuacce of a CCTli fl\;ate o f Co mpletion fo r
lhe Proj ec t.Deve lo per shall su bmit proof o f insurancc as requirt:d by this Atuttrnmt.
3 .8 Ia.'csand M"'PllKnLS.The Dc ,-dopcr "'i ll f'a)·bcfuKdelinqUCDC)
.II.!valorem real cswetaxcsand asscssmenls OO the P~y.subjt:d to tho:lkw~'s ri gttl l O
rontcsl iUI)'laXes Of iiSSCS5mCIIls in good f:uth.Th e Dc\eloper will mno\"i:an)"IC'\'}·(If attllchmem
on tho:J'ropCTly or any pan o f it.or assure tho:satisfaction o f tho:levy or anachmm t within a
reasonable lime.Except as 10 propcl1)in publi c use and subjt:d 10 tho:follo....ing 5Cn1mtC.
Developer and !bose tenanw'othtn holding or using the Property under lk\"CIopcr by Iaso:or
othenooisc .shal l IlOl appl).for or Iakc lId'-8lItaltC o f or othavoisc enable an)·Clicmption from
p opcrt)'l posscssory tax es .The Dc\eloper shal l IWlt allow a usc ,~fcr or sale of the
P l"OJ"e rty fpon ion tbereo f.....-hcther pri.....to or following co mp letion o f!he Improvements hemuvkr,
to an enlity tha t is exempt from propenyl posliCS "'-")'\ax and/or .....h ich ....nuld allow a removal from
the laX mil ,ebse m pri o r notice t o and ...'riucn consent o f City .
3.9 ~!!!l'!ii!J\CC ....jth LaW!!.In perform in g its obligations hereunder.
Developer s hall comply w ith a ll a pplicable l aws. regulations.and rules of the governmental
u gen ci e ~ha ving j uri sdict ion,includi ng.wi theut lirnitauon ,app licable fe de ral a nd stale labor
stendards and environmemal laws an d re gulations.De veloper.nor City.i s re s ponsible fo r
determ ining a pplicability ofand co mpliance with a1 1100:a l,SIJIlCund fede rallaws i nclud ing.without
limitat ion,th e Ca lifornia La bor COIk,Public Co ntnld Code,Publ ic Resources Code,lI eallh &
Sa fety Code,Government Code,the City Chaner .und Fresoo Muni cipal Code.City m akes 110
repeese ntauoas re garding tho:appliCllbility o f any such laws to thi s Agreement,the Project, or lhe
part ies 'respec tive ri ghts or obliltalKxu herronder including.",itOOul lim itation,puymcnt of
prevailing "''agCS.compeunve b idilinl!-subronlnlctor l isting. or Olhcr RumC'n.Cily shaI!00 1 be
liable or rcspunslblc,in 13 ",or equity ,to any pe rson for lkwloper's tai.I~10cumply ....ith any such
laW1,"'-nether C ity knevo·or should blI.'c:Uio"'n of tho:need for lk\c:Iopcf to oompl).Of ,",'hcthc:T
City failed 10 notit)-Dewl<>pel"of tho:IIc:Cd 10 CXJmply .
.\.IN'PIJ.L"ITY ;L"I:S URANCF..
.\.1 I ndemnity ,To tho:funhcst ell.1l:nl.a1 lo.....ed by 101"',lkwlorer shall
indctnnify.bold harmlCS$and defend.with qualified eounscl o f Dnelopct's choice ,the City,and
each of its o fficers,o fficials.employees and agenb from lll1).loss.liabili ty,fines,pcnallies,
forfeilurn,costs and ~cs 1"'hcthc:T in conlnltl Ion or strict liabilily inc luding,.....ithoUl
limiUltton.pcrwnaI injury .d eath 3 1 an y tinK'and property damage)intum:d by tho:C ity.Dc:vel oper
or ~)'other person,and from an)·claim s.demands and atIions i n 1".....or equity (includi ng
reaso nable attorneys 'fees .h tiglltiotl and 1cltB!expenses inc urral by the C it)·or he ld 10 be the
lillbilily o f the C it:..,includiog p lainliff s or petitioner's at torney 's fee s if awankd,in c:onneclion
wi th C ity 's de fense of its ac tiOl15 in any p r-occ cdingl.arising or a lleged to tmve arixn Jin:ctly Of
indirectly OUI of pe rformance or in llIIy "'a)'CUJU ICC lcd w ilh :(0 th e m aking o f t his Agreem ent;(i i)
tll("pcrfoflllli/lCc of thi s Agreement :l iiil lh e in s tallation of the wo r\.;o r Imp rovements by the
Developer and Devel oper's e mp loyees .officers.a gents,eontmclors o r s u t>c o nlrael ors;{iv j the
design,i nstallation,o pera tion an d r emoval or maintenance of the w ork and Improve me nts o ther
12
than 100M:pomons of the lm peev e merus thai are dedicated 10 th..C ily fo r pu bl ic use ;or l v)C ily's
~rall1i ng,issui ng o r a pprov in~u-w o f t his A g r~l .
Ik"elope r'§ob li~l om unJcr the preceding smlencc:Wli appl y ~o f
"ht:ther Ci t)·or any o f its o fficers,offic w s,e m ployees or agents are negl igen t,bu t :shal l not apply to
an y loss.liabil ity,Iioes,penalties,forfei lures.cosis o r damages c4u.o;cd IOk ly by the gross
negli genc:e .or ca.-d by the willfu l m isron.1 ",,;;\.ofCily«an y o f in officers,o ffICials.e mplo).:es.
~ents or a urhorizoo volunteers.
Thi.ind e m nil)·s h ..II .I..,.........."irhoulli mit..ttun ,Ih ..fol "'",i nC:11 1.oy
.cl....,...r 01 om",io o o f (ko·.....pe r •••"C II)'or .n ~of its OfflC..rs,..mp lu~",",eon ll.CIOn"
s ubcu nl .....lo n"i n'it en••g enls o r repre...n t.ti'n i n w onK tio n ",ilh I hn Ag rrrm"ol.t h ..
P rojm or Ib..P rope rt)·;lill ..ny'u v..uf t b..I'rope rt)'by'n..,..leper o r .n y'uf ill o m ....n"
e mpl u)en.Wl:l lndon".o ","on l ...el ol'l.in'·il.........I:"ots o r repres..nl ..l ive·••s oeU'UUn Or
.u ir.ns ;«iiil lh ..dtllign.ron.truclion.o peTlllioo o r m.inl eoll n ee o f I h ..Pruj ett."ole",o rh ..,...i«
s pKifiully e u ..p eed he rein.o r (i,·)th ..fail "re u f Dev eloper o r lI n ~'o f ih o m ....rs,"01 p lu yen.,
e u n llll ..lu n"l u","o ollllcion .in..it en .lI g ..n ls o r re p rnrotllt i'"10 c u m p ly ""il h .n)·.·ed..ral,
S t..l..o r lur.1 hi.......ode.urd in.nee or r egu btion .pp llca ble t o t hi.Ag r ee m..nl o r Ih ..Pro]......
includin l:,hUl n ut li miled 10 .c l a;ms ha t ..d up on fail ure 10 c o mp ly folly ....il h prlet ,.mng '..g..
I II'm . y b..tlt·l ermin.-d h y'.O~'c ourt o r .gen e y o f Ih ..S I.I..ofC.Uu rnill ur l rnlt ed S I.tn
('o rnm ..n l ;wi th r n p eel to lIn~'lIml a ll d o im ~related 10 p r n '.iling wag...ne,'tlu per.as
prm'lded h erein lin d nth e ,...-t,..In I hi,ARrUm..nl ••.",u m".l1 n-.p'm,l hili l y·fu r p ..}'m ..n !of
pr.....iling ".g ...ml eo mp ly inR ..ilh pn'VlI ilin g w ag ..l a"' ~.if req uired••nd 'pt'cifiu U).....in·•
• n y • nd .11 ri l:h L••R.i n~t t h..C il}·.lIS ",..II .,C ity .g..n",..mplo}""".Re n ti ..s,.ml ..o n ,u l l~n b.
pU l'lu . n l 10 C.li fo mia L a bor C od ..netl"n 1726{e) a nd .n .I"R"u.f ed ..ra l l.""if .ny ••n d
.grees 10 d ..ftlld .nd rull y·i nd e m nify·th ..C ity .. ......11.,Ci l).gents...mplo)eee,"Rtll ein,.nd
tG n.u hl nlS.f or .1I}cI.im,b d u plm f. illl n'to p.y pl1'\·.il ing "'. ge ,i nciudioR.1\i lboul
limiuli<ln .cI.ims f or d .In. r.fio ....p e n . lli .....lili gati on upe n ......""'h••lI om .,-I'f.........nd
lnl n'"l,n.....·..leper .ndlo r City b ..-,..th e riC hl 10 eo nl.."t or e h alle n R"a n y findin r,Ih .t
p l1"V .ilin&,,'.g...p pl in.
Th is """tlon shall survive lcrminarion ...~nIIiunn fmis Agm:mmI and the
pot rntial m.:urdaIion o f ee Granl Deeds.
4.1.1 As lioD Aris ing Out of Arpronl nO bis Agmmep!.The
~'eJoper :shal1 indernnif}·.lkfmd and bu ld the CilYand ..ach o f their resrecnve n fficcn..o fflcills.
em plo}~~enlS,boan:b and voI unknS twml~from an y j udicial action filed against 1hc Cif)'by
an y th ird part)ari sing OUI flf1hc Cil,'s appro,'a!o f this Agreemml (If'an y rcrmil.enli llcrncnf or
otha action required to impk'll1erll th is A¥fCCDIC1I I.incl uding ...ilhoul limitarion i!pJlfO\'aIs undcT the:
La.....C EQA Of'1hc C ity 's Mun icipal Code .Tho:C ity wi ll promptly TIOI lfy the Dev..lo per o f the
ec tion .W ithin fiftcnl (1 5 )days .ftn rccei f'l o f the no tice:.the Dc,·c1 n['Cf :shal l lake .11 steps
1II.'CeMar)'and appropriate 10 a-'i$U me <kfen ...o f the ac tion .Tho:City·"'111 ooo pmlt.."ith th..
[)co.·e lope r i n the d efense ,lf the llCt inn (a l no cos t to the C ily ).Neithe r the lk\'clo ['Cf nor t he C il}'
",ill CI'm proml ...th e dc:fensc g f 5m"h llCI ion o r penn ,'.d e fault judgmcn l lg Ix tal.cn aga in'<llhc e lly
wi lhoul t he prior "ri lt ~n ap proval o f th..Ol her JIIIrI y(itll).
4 .1.2 Survival o f Inde mnificat jo n I '[l,!\"i s j !!p~.Except a~
o t herwise speci fica lly s Wlrd herein ,rhe indcmni fi calion pro vis ig ru;i n this suhst:t:tio n UM ..\ocry othe r
1J
indemni Ilcation in this Agll:'CTlI':'nt "'ill survive an)"l('nninatmn of Illis A ~~lll('nt ,"'ill survive ;my
C losinll.",ill surv i\('the l'~piration o f lilly cove nant h.-rein an d ...~1I 1\01 m tf\!t "'illl any o ~
d ocument evidc:ncing an inlel'est in real Jln .peny.
4 .2 In sunmcc ,Prior I"thecommencemml of lheconsuuclion and until
C ity i ssues thc Certificate o f C omp ldion and n::conJs i t in the OffIC ial Recoeds o f'Freseo C ounty .
[)e\·t!orn s !W1 pa)'for and ma intain .or cuuse 10 be:paid and maintaiDl.'d,in e tTee!al l insurance
policies required hen:under ",itn irn;unrn comrenin ci tha (i)admillro by Ihl'C&Jifomia I~
CommissioncT 10 do busi ness in !he Stal e o f California and rated noc kss tlwl "A ·Vlr in fksI's
I~R ating Guide;or (i i)mrthoIited by t ilt C ity 's Risk M~.The (O UO ",inlil po licin o f
IllSunInCI:are required.and De \l'lopn will lkl i\'e!"proof of tI\es('pol icies before swting
CUMlTUCIiOl\:
4 .2.1 C9mmerc ial General I i ,bility It>>l!l'WH'C 'COlt>~rcial
gencnlliabi lit)11lS\Jf'llnCe.which s hall he at l('&-,t u hm&d.as the mos1 CUlT<:ll1 venion oflnsur-ance
Servkn Office (ISO)Commercial G('Jl('T'8.1 Liahility Coverage Form CO 00 01 and s hall inc lude
iosunmcc for bodil~'injW)',property damage .and personal and advertis ing injury with cov erage fo r
premisc:s ldIIi operations (includin ~the use of o wned and n on-owned equipment),produets and
comptet",",operations,romractua l liahi lity (i ncluding indemnity obligation s under thi s Agreement).
w ith limi ts of liability o f not less than 1 5.000.000 per occurre nce for bodily injW)'and property
damage,S 1,000,000 pe r QCCUlll:nc t fur pcrsonll1 an d adv ertising injury and S5.000,OOO aggrtgale for
I"rnd ucts and completed o perations.a nd SIO,OOO.OOO i/.c neral a~~reglill'.
4 .2 .2 CUmmerc iai Automohlle Llahlht\'I II.~.Commercial
au tomobile liabi lity insurance ,w hich s ball be II I lelllIl II.S b road as tbe most e u ~nl vers ion o f
I Il.~uran c e Services Office (ISO)B u ~i ncs!i A uto Covmll!e Form CA 00 01 (Sectiun I ,s ubsection A.I
enntled ~Any Auto').wi th combined s inglt limi l s o f liability o f IIOt le ss than SS.OOO .OOO per
accidmt for bodily injW)'and property damage.
4 .2 .3 Woden'Comocnsatwn l~,
c:ompcnsation insurauce ,as required Ulll.kr tho:California Labor Cede.
Wod ers '
4 .2A Em plo\n's liabilit)'.Employer 's l iab ili l)·~wr.t{:e "'i!h
m in imum limil5 ofliubility of not Ins tJwt $1 .000.000 each .,,;idcnt.51,000 ,000 d i ~po licy
l imit and $1 ,000,000 disease each o:mplo)'C'C'.
4 .2 .5 Ei£5 iUId plcndcdCovmgc !nsurarltc.Fire andextended
rovcnge illSUl'WlCe for at Ie»l the ful l ~l cost o f the Dcvelop:r ImJl'm -ements on thc
P'Of ..rty,ucluding fOtlllda tions.fOOlInp and uca\-ations and lenlult impro\emell~fiJltura iUId
penoonaI property.
4 .2 .6 lJui1 dm R isk Ifl'>UfaJ"ICC .Builden rirJ;,ilL~sufficient
to cover one hundred (100)pcrcccr o f 1M rep lacemenl value of all improvemcolS made-Ofl the
P roperty including.witboutlimitaeon.terms o l labor and ma terial s in place o r to be use d as part of
the permanent construction (including.without limitation,surpl us miscellaneou s materials and
,upl'lics incldcntalto th e w nri:..an<I sceffolding ,staging,lowers.forms and equipmenlllOt owned or
re nted by Ik ve lo per ,the e 0 51 uf w hic h is nul included i n th e cost of wor i:.).
"
[~'o'elorcr shall tit'rnponsible for J"lyrnml of an~'dcduo;tiblcs
contained in an)insurance policies required hen:under and Dnelopo:r shall a lso be fnJltlllSibk for
papnm t of an~'self-insured n:lCtltions..
The al..eve-described po licies ofin'ilJnlllCC shall be endorsed 10provide
art un restrict ed Ihi rty-(]O)cal eoJar day'....'rinen notice in favo r of t he Ci ty,o f policy cenceuenon,
chan ge or n:d uction o f covcrege . e xcept the Wor kers 'Compensat ion policy that s hall p rovide a ten
(I O)~l e nda r day wrincn notice of suc h canCl:l1 atinn.c hange o r red uction of cov erage. I f lIny pol icy
is due to e xpire duri ng the term o f this A gree mcru,Oe n'l o ~r shall provide a new ce rti ficate
evidencing pol ley re ne .....a1 notless than fi fteen (15)cale ndar days before the expirauon da le of th e
poli cy .OW'ben an ins urer ,broker,or al!en l i ssu es a notice o f cancellalion.c hange or reduction in
co verage,Developer shal l i m mcd i atel ~'obtain and liIe a certified copy of a new o r reec ......1 p"IiClo'
and certi ficat es fo r such policy ....ith the City .
The Gcnc:ral Liability and AUlomobik I.iability insun&ncc policies
shal l be ..TiIICtl otI an 0CCIII'TcrICC fotm and shalllWRC'the Cit),and !he offiCffS,oflkiah.lll'cob and
t'mplo).~asan additional insured .Each po licy sbaJl be endorsed iIO that De\'elopa's insunmce is
primary and nocontri bution i l lal u,m1 of!he C ity .Any Worlm:'Compel\Sll li on ilL'iUJ1UlCC policy
shall co ntain a wa iver of su beogaucn as 10 C ity ,i 13 officers.o fficials ,agents,e m ployees and
volunteers.Developer shall furnish lh e City ..-nh co pies o f th e ac tual policies upon t he request o f
it s d esignee, o r the City 's Risk MlUl lIgc r.
Th e fact that insurance is o htained b)Developer or its s uhcon ll'llCt<lr'S
shal l 001 be d ee med to re lease Of diminish the liahilif)!o f De velopo:r or its subcon01lCtoMl iocludinll
without limitlliion,l iability un.kr \be indemnity provisions o f thi,Agm:mmt.The d ill)'10
inokmnify the L'ity.and lheit o fl'1Cen,offidals..agenu.emplo yees and \Olunleo:n.shalllflPly 10 all
c laiJru and liability regardless o f ....bcther any insurance policies art'applicable.The policy limiu do
not act .,a Iimiwion upon the amount of indemniflalion 10 be pro,idcd by [}e\-d opcr (M"i13
JUboontral:tOr1.except that an)'pa)mcDl from .,.insurance policy paid towan;b De,'e!opcr',
indftnnily obl iplion shal l be applied to .....ards De veloper's total iodC'mnity o b ligation for !he
particular claim fo r w hi ch the ilUUOIIlCe po licy has made suc h pa)mertl.Approval or purcha>e ofan~'
insurance contrects o r po licies I'haII in no way'relieve fro m liahi lil y nor limit \he l iahility o f
De veloper ,i ts pri ncipal s,o fficers ,egems.e mploy ees.persons under t he s upe rv ision o f Dev eloper,
ven do rs. s upplie rs.invi te es,s uhcontract nrs.co nsultants or anyon e em l"loyed d in:c lly or indin..ctly by
any o f th e m .
I fI~\"e1ope r fails 10 mai ntai n the req uir ed i n~urarn:e in rull fo rce and
e ffect.De ve joper ,hall imm ed iately d iscontinue all wod.undcT this A~L.and IHJr.r all
I'iC'ttM8f)"actions to $«Ul'C !he .....oO:s itcto insure l hat public beal th and safety i s protected,until the
C ily receive notice tha t the rcq uin:d insurance has been ~~to rull e ffect and that the ~miums
for the ill5\nnCC'have been paid for a peri od 58ti,(1("1oI')to City.~'eloper 's rai l~10 maintain
any required i lL~W1IOCC shall be suffICient caUSC'for the City 10 tmniflllie thi s AgnxllKnt .ftef notja,
and the rigltllO cure as pro vided in Sec tion 1 .4 .
If De'o'e lo per sut>conlJ1lcl~all or any JlO rtion of th e wo rk under thi s
Agreement,De veloper shallrequire ellc h s ubcontractor 10 p rovid e insurance protection in f..vor o f
Oevclo pcr and th e City,WId thei r officers.o fficials ,e mplo yees.e ge nu an d vo l unt eers according to
ts
the terms o f each of tht preceding ~pm.t XCC pl WI the s uboonlracton 'certificates and
tndontlTlC11 ts Wll be on filt wi th Dtvelo prf ,anJ C ily be fo re the subconl11lC lor begins an y ....n rk .
U .7 ~eN Projtct (>csign Wor l .Devejoper shal l
maintain for ilS Project doign ...."rk.or i f 1lt\'C\op:T subcontra..'U an y o f the Projm design v.urlo;
Ikvtlo po:r shall req uire each design sulxottl1x1Ot 10 mai ntain,professi onal liabilily insurance lo:rmn
and omislliOll!l)....i th a li mit of no!jess than one m illion do llars (S I,OOO .OOO I po;r occurrence .
I f claims made form s are used for an )'Profcssi ona1 lJabili lY C overage.
e ither (i l the policy shall be endorsed 10 provi de l1<lI less l han a fi ve (5))-cBl discovery peri od,o r (ii )
the co verage shall be mainta ined for a minimum offivc (S)yean a fle l the R elcll>lC o f Cons lTUC tion
Covenant s is recorded .T he requirements of t his section relating to s uch coverage s hall s urvive
terminatio n or expiration of thi s A greement.
4 .2 ,H l 'edo lJll;lllL'c and Paymc nt i30nd s,De ve lo per w ill o btain
and d eliver labor and mat erial bonds.pa yment,and perform:tr\\:t bond s ,i ssued by an insurence
co m pan)'meeting t he c rit eria for De veloper's o ther insurMlC<'lIrllkJ th is Agrecmml.The borda wi ll
each contain a penal Rmt II leas!equal to fooy (401 percera o f lk\-cloper's ~im ale.:l eonstruelion
costs o f any particular Phase o f Ihc Projecl then undcT constructio n and .tIal1 remain in ful l foro:
un lil the i ssuance ofa -safe 10 Occupy"C~flUll:or C cnificate o f OttllJ'illlC'Y ,or the rcoording o f a
C t rti flCll le o f ComplL-tion for that Pbase,....hidle\'tI'i s earl iC'!",The t>ond $wi ll name C ity Il5 co-
oNig«,Instead of requiring performance and JlII )ment bond s.City ma)'~ider and IICCepI other
C"'i dc:r>ce o f Developer's ability 10 complete the Pmjea,
S.SECLlUTY FISA.'';CUSO l"flJR f S I$AN D RJO IITS OF Ii OLDER S.
S ,I prohibiti on Against Transfer o f Propcrty.lhc;B uildings (IT S !JUcIurt'5
Thereon and A ssignmmt o f Agreement.AftCT conveyance o f tille and pri or to the issuance b)'City
o ra C e rtificate o f Co m pI elio n for the P roject,the Developer s hall not.CJlcc pl as eJlprcssly permitted
by th is Agreement,!!CIl ,transfer,co nvey,assig n,or lease the .....hole nr a ny part o f the Pr o perty or
the buildings o r improve me nts t her eon .....it houl the pri or wri tten approval of C ity .Thi s prohibiti o n
,hall IlOl be deemed 10 prevent the gr.rnting o f easeme nts or permits to fecilitate the development o f
the Property or 10 pr oh ib it or res trict the lea5ing of an y part or parl~ofa building or S lTUCIUfC ....1H:n
sa id improvC'TTlnl U are comple led.•
5.1.1 I'mn ined Jr;msfCTS ,N(){\\i tmtandi ng !he forcgoing.the
fol lo....i ng ewnll (~P..nnillnl Tnnd..n 'shal l 001 be d«me.:I a IJWISfer for the purpoIlCS of
requiring Ci ry 's consml ;
A.Crea tion o f Seo.;uri ty financ i1ll!Ink:reSlS;
B.A sa le .oon \'C}'anCe ,or uansfcr o fw l'ro perty a t foreclo$ure (or a
deed in lieu o fforeclosu rej mul ting from a Sec urity filUUlC i 1ll!In tC'f'CSt :
C.The co nveyance or d edi cation o f pa n ,o r l hc Prop<'J1 )1 lo Ih<.-Ci ly o r
Ihe g rant of easements o r pC'rrnits so lely to faci l itate the d evelopm ent o f th e
Property before Ihe C e rtificate o fCo mplction i s recorded ;
"
D .Sale o r n:n tal o f Proj ec t uniWqlllCe in acconlance "'llh this
Agreemem:
E.Sal e or assignmetll 10 an enlil)controlled by o r i n common control
....i!h lJre\'e lopcr;
F.Assi snmentHe5ulting from thl:death or mental or ph)'Siw incap«il)
of an iedivi dual:
G.Msi~1S in tnlSl for the beDefit o f II.panna's~,children,
granJchildrm or otkt famil)'members.
5 .2 Appro\'lll or C pnsmt o f ('it)".\\'hen .IalUC'Sl for lnLnsfn or
assignrnml is s ubmiued 10 Cily for oons ide r4lion.appro ,"a!...ill be cond ilioned o n IJw:follo 'Ni ng:
A .Finam:ial Strength and Ro.5incu Ex peri ence .The proposed tran s feree ....i ll
demonstrate t o ('il)"s n:a.'iOOll hle satisfaction thai.the propo!oC'd t ransferee has
s ullicienl fi n il1lCi al st rengt h nnd the bu sin ess ex perience in p lann ing.finBncing.
development,o ....ners hip.and o peration ofsi milar projects I II complete the Project.o r
portion thereof .cornpet eruly .
It A ssum!'!i2D..b.w:J:rn.;ru .A nyunnsferee.h)'l\JCord~blc instrument acce ptable
to Cit)"shall ex pressly a ssume all th e unfulfill ed o r o ngoing obligations (If th e
De veloper und er th i s A gn:l"ment.and a grtt 10 be $u t>j ecllo 111 1 the condition s and
restrictions t o ....hich the Developer is subject with respect 10 th e:Property or
applicable porti on the reof.
C .Transfer Documents .The Developer or hs succes.sors s hall submil el l
documents,proposed 10 effeel any tnmsfer o r assi gn mnll.to C ity for rev iew and
approval .
D.O!hc:r Informallon.Devejcper or i t'!successors sball deliver all infomilltion
lo Cit)that C il)'1Dll)rn.soonably RqUCSllo enable it to evlll uale !he Pf1."PO'Cd uamfn
or 8.S5ignmerl l C ily $flaJ 1.pp"ne .conditional!}·"PJ'ro'"C',or d i!laJlPlUvc al'l:'quesl for
ass ignmenl ..ithin 15 da)-S alkr rea-iving !he rc:qucst and all supporting
documentation.
Ii.~\'C:l orocr ',Rcleue eil:)"u pproval o fany transfer ,assi gnmc:m.,...sal e ...ill
no t re lieve lhe Develo f'CT o r an y suocc:ssor from any unfulfilled ee oo going
oblii:alions o f Jk,,"1:lOf'CI'under thi s A gn:anmI 'Ni th rC5lIKI Io any portion o f tht
Propn t)'nol tr.ul.~fnTN ,The rr twisioos o f this subsection are inlended 10 di scourage
hmd ~-po:<:u1 al ion,and these pro\is ions shal l be li berall)'inlCrJRled 10accomplish thaI
e nd .
5.3 Sroujly Financing:Rights of Ho ldcrs.
iID <U..c ~:!cllad or Other Finandml flU Ds;velo,Prnl"n1 .Notwithstandin g S ection 5 .1 (If this
Ag reement.m ortgages.deed s o f tru st,sa le s lUId leases-back Of a ny olhN form of c orw C)'ant:c
17
required for an)~nabl e mt'\I'Kod o f financing are permitted before issuance o f a CertiflCale o f
Compleucc but onl)'for the PIJIl'OSt'o f SttUri ng loans of funds to be u.'t'd for fi nancing tbt'
6C<Iui sit ion of lhc:Prupcny.tht'construction o f i mprovements on lhe f'ropert)and an~'othc:J
expcndit urn na:t'UiI/)'and approp1atc to lk\'e:1op lhc:I'IOJXr1y undt'r !his AgJeemcnL T(J this end,if
the Dc:1.-c:Ioper and tbt'[)e\e:IOJ!C'r 's eonstruet ion lc:ndc:r pnw idc:a ...ri nc:n I'al.Ul$IIOtbt'Ci ly M~
fo r the Ciry to s ubord inate its inlt'rt'5lS in th is Agrcrnll:n tlo tbt'interests o f tho:constnIl;lion lender,
and the le nder pro\'idc:s a ...rillm proposed s u bordinaLi o n ~men l.m.:n the:Cil)'Managn,or hi s
des i ~.shal l ('A,l n.~i dc:r and appro ve:the subord inalion agreem en t if the fo llo ...i og cond itions are
met:(1)the lender states in ....rit i ng a I\CC-('»ily fo r the requested Slloordination;(2)the terms o f the
requested subordinatio n ere co mmercially reasonable under the circumstances:(3 )the:Developer
p rovide s 10 the C il y Manager a statement "fall materialterms o f the source s of'equity and lo an s for
construction o f the p rojec t and IMt information demonstratesco ntinued fina ncial v iability o f the
p roj ect through co m pletiu n o f co nstruction;(4 )the fund s disbursed lhom each cor e mcaon loan s hall
he u sed o n ly for c osts and charges assodateJ w ith the 10811 and consuucuon ofthc Improvements;
(SI the interest on eoc h construction loan wl1 he at a reasonable ra te based on al l lite flll;tS and
c irc umstances;(6 )Developer shall pro~ide C ity ...i th evidence o f Dc1.'c!oper's ability to SlltiSfy any
eo.jui l)'n:quiMl\('(Jts o f eac h construction loan;and (71 the:C i ty AIIomcy a prnWQI the subordination
as 10 form.Any reqllCStCd subordinatWa shal l dccmcd appro\'cd by the City Manager if the a bove
conditions have been ~and lhe City Manager or hi s designee has noe approvai oc rej ected the
tams o f tho:$Uhocdinatiott ...i thin 30 days of!be condi tions hali ng been met,The Developer shall
l'fUIIlPlIy notify City o r any lOOl'lga{(e .deed o f tnat.sal e and I_t-;k.or other fmanciflg
CODVC)'ance,encumbrance or l ien that has been erc:stcd or aIlacbed themo prior Io cumpletion o f the
oomtruetion o f the impro\-o:ments on me r lOperty wbether by ,'oIUlllar)'act o f me Developer or
olhcno.isc.The ...'O rds "'mortgage"and "deed o f ll\lllt,"as used hemn,i l1C lude al l other apptVJKiate
modes o f linanc ing real notate acquis it ion.construction lIOd land dc:\el opmenl .
5.3 .2 Holda No!Obl igated To COOS!n!c t Imp rovements,'1bc
ho lder o f an)'m o rtgag e,deed of'trust o r other security interest au thorized by th is Agreement shal l in
no \"iay be obligated by th e p rovi sions of thi s A gree me nt to connruct o r co mplet e:the im provements
or to guarantee s uch construction o r completion,nor shal l an y covenant o r an y o the r provision in tho:
graru d eed for the Property be construed so 10 o bl iga te such holder,N othing in thi s Agreement shall
be deemed to co l\Sl1U(',permit or au thorize an y suc h holder to devote the P ro perty t o any U5CSOf to
c o nstruct an y impnm:merlls thereon O!her than those l,lS('S Of i m provements provided fo r or
au thori u d by thi s AlUee mcnl.
S.3.3 Notiq o f lkfo.u11 19 MOOg •.DmJ oUn&,or Otbcr
SecuriIV Interest Holders:Rillbl to C un:V.'heoe-\er C il)'shall deliver any noeic:e COl'demand 10 the
Deve:1oper ...im t OJl('(1 1o any breach or defaull by the Developer i n wmp1c:rion o f construetion of
lhe lmprovemmts.Ci ty shall a l the same l ilne deliver I copy of such notice or demand to eadt bolder
ofrecord o f any mongage ,deed o f OUSt.or other 5eCUIi l y interest a llthori1.ed by this Agreemcnt who
has pre\iousl)'made:a wri nen requc:sl t o C it),lhetefor dc:faull o f lhe De\'e!op:r under this Section
S.3.3.N othing contained in th is A greement shal l be deemed 10 pmnil or luthori1~such holder 10
und ertake o r continue the construction Of co mple t ion o f the:Impn w c:mc:n ts (beyond tbe ex tent
necessary t o conserve o r pmtecl the Improvem.,,"lS or COIlSUUL1.ioo alread y made )without first hn vinl!1
expressly llSSwned the:Developer 's obli ga tion s 10 City b)'....nnen agreemcru rea.'iOna b ly sa tisfactory
10 C ily .The holder in th at ev ent m ust ag ree 10 co mplete,in the manner Iln.,yide d in th is Agreern em.
th e Imp ro ve ments to which the l ien o r title ofsuc h ho l der relates and s uhmit evidence reasona bly
"
Slll isla.:IO I)'ltl C il}tha I i l has Ihc qual ificlitions and li llal"ll:ial responsi bility fll'«5SI1I)'10 pe rform
s uc h obli1l31iom..Any soc h holder properly compltnng suc b Impeovernems sh.1l1 be enutled,upon
..rinen retlue51 mede 10 Ci l}'.10 a Ceniflcate o f Completion from Chy .
j .3.4 Uilurco fHo kkrlOComplete ImW\'mKI!lS.10 any aL'E
..-here .si ll (61monlbs after defaull b,the lk\·c:1opcr in completion o f construClion oflmpnwaDetllS
uOOe r th is Agreement.the hold<'\"of any mot"Ipgf:.deoJ oftrust.orodler security inlm:st c reating a
lien or encumbrance upon the Prop:ny bas nut ex.e:tcised the option to ~OI",f il has ac:rrisa:!
the option and has not proceeded d i li gc:ntl y ",ilb ~Cil}·may purt"hlIllc:the mort~'C.deed
o f trust.Of otbC'r secunty interest b)pe~mentto the ho ld..-r ofthe amount ofthe unpaid debt.plus an~·
aecrncd and lIllptUd in terest.If the 0 "ucnhip of the Proper!)'has ~ntcd in In.:ho lder.C il)'.if i l so
desirn.:VIall be enti lled 10 .t"on~'c:}anc:c:of lhc:Property from !be:holder 10 Cil)'upon piI)mmllo the
hal dcT ....f an amoun l eq uallo the 5WII o flhe follo ..i ng :
A.The unpaid rrM'Il't 83l!e .deed of tnlSl.o r o ther sec:urity inl ernl d ebt 81
the l im e nue became vest ed in the holdet (l ess all appropriate ~its.
inc luding t hose resu lting Irorn coll ection and appl ication of mllal slllld other
income received d uring forecl osure proceedings);
B.All expenses w ilh respect to foreclo sure;
C.The net c:x.JlC I\.'>CS.if lilly (exclusive of gen eral ove rhead),incurred by
th e holder as a dire ct result of th e suhsCXjuent management ofthe Property;
D .The costs o f any authorized improvemenl 51JU1d e by s uch holder;and
E.An amount equivalent to the in tcreM thai would be ve ac erued on lhe
llIIjlfCi/ate o f such amounts had all such amounts eecoese pan o f the mort gage
Of d~c f uust de ht llIld sucb deb!:bad wnlinued in exi~mcc to the date o f
peymenl by City .
S.H Rjght o (Cirv !O ClIfe MortlI ~p OOlS!or 0IDg
~Iy Int an!IkfaulL In lhc:ev ent or.defauJl or breacb by the Dc-velopertICI UlklrtPl/'C.do:edo f
INsI or otbC'r sec urity in t<=St with m r«t \0 the P,o pa t}'prior \0 the completion oftne:ProjC'Ct.UKt
the hol<kt has DOl e nrci$Cd ;15 option 10 com plete the Proj«t.City IDa}l:l.lR'the:defll.u1 t pO...\0
completion of an}(oreclosun:.In any suc h evmt.Ci ty shall be entitled 10 n:imbw"~1 front
ne..~1opcr o f aU costs md e xpenses inc um:d by Ci ty in curing the default .Cily shill al so be entitled
\0 a l im u pon the Phljl<:l\)'to the:almt o f !uch cosu and d isbunemenu ,Any tuch l im shall be
JU bject 10 mortgages,deo.-IU o f trust or other sec;-uri ly intcn::51s ex ecined (or the sole purpo:KIC o f
obtaining fund!;10 purchase and d evelop the Propc:n y as lluthori 7-«1 krrin .
6.REfRESENTADON S AND WARRANTIE S.
A .RIT'teSCnlHli ons and WllIDUl ties o f De vel oper.De vel oper te p.-c:sc lllS and
warrants t hai ;
"
I .(kvd o pl."l"i s a Cahfomial imih:d liabilil)'c ompany duly formed and
n isting under the la ...-s o f the Slale o f C al ifornia.in good standing.and
authoriT.ed 10 Jo besiness in the Stale of C alifo rnia.C ounty of F resno,an d
City o f Fresno _
2 .Oc\-e lopcr has all requisite power and authorit)10 can')'out its
business as no '"and herraftCT oooduete:d and 10 en ter and perform i 1.~
obl ig.a lions under thi s A grttmenl
3.Tbc pcn<m or pcn<>ns signing this A l.l remlml for Oe\oelof'CT ha \oe
been d ul y au thorized to n :ec uto:and ddh 'CT thi s Agreement and 10 kgally
bind Deve lo per 10 its Iemu;and conditions.
".Jk,.'e lopc:r's esecuuon and performance o f thi s A ~m c:nl does no{
,·io lat e ll/l)provision o f an y other a greeme ra tc ....-bich Dc;o.·c:l oper i s a part).
5.Except as may be:speci ficall y SCi fonh in th is Agn:c:m e nt.no
a pprovals o r c onse nts no l hcret o fcrc obtained 1»'De velo per arc:nec e ssary 10
De velo pe r's e xec ution o f Ihis Agreement .
6 .Developer has o r will hav e su ffi cient funds available 10 fund the
P rojeel und 10 p;I)'a U costs assumed by De ve loper hereunder.
7 .Th is Agreemenl is valid ,bi nding ,and enfo rceable ilj!ai nsl Developer
in accordance with its term s, e xcept as such en fc r ce a bihty rna)'be:limited b y
pri nc ipals o f p ublic policy and su bj ect !O the la w s o f ge neral a pplication
rel ati ng to ban kruptcy ,insolvency and the rrlie f o f tkbloL'S,and rul es of law
g o,'eming sp:<:i fic performance,inj lUK:lh~re lief Of otho:req uita ble mnedi c:s.
8 .Excepe for l he lerms of that cenain O PA between Develo per and !he
RDA.Developer ha-.made no conllllCt 0 1 amlIIgemc:nt o f any kind !he
pc:rfortnlUJCl:of .....hi<:h by the other party tbc:mo would giu rise 10•lien on
the Pmpc:n y.
6 .2 Sun-in!(!f R,,,mm latjom and W ammtics.The:panies are re lyin£
upon the above J1:Prc:Smtations and ....-ananties in entering this DDA.The:fOl"C g oing reJl"CSI:OlaIions
ate and shall be conti nuing in 0lIlurl:and WU remain in full fom::and effect unti l al l obligations
Wlda thU D l>A are met or thi $D OA is lerminated in .manner pm viOed ~in .
1 .D EF AULT.Rf Ml:::l)lES ANP TE RMINATION .
1.1 [k(aull f ailure:Of d e lay 1»'either party'to perform an y term o f this
Al/-rc:c:rrn:n t shal l be:•do:faull und er th is Agrc:c:mc:n l if not c ured ...ithin the t ime set forth hffl,in .Any
fai l ure or d el a y by a party'i n IISSC n ing an y ri ght Of remedy ....i ll not co nstnure •...-ah'Cf',DOd ....i Unot
de pri ve the:party o f its ri gh t 10 in slil ule and maintain any llCti on UI proccc:di ng TM:Ce5!ollryltO proled o r
e nfo rce:an y ri ght o r re medy.
1 .2 L Cl:aJ A c!~.A f'ilrt y m ay institute Il legal a ction to c ure. co rrect o r
re medy an y d e faul t.t o reco ver dllmll~c s for ll/ly default,o r t o o bta in an y otber remedy c o nsisie nr
ac
..ith the P llfllO$'.~(If this A ~Mllent .S uch legal action shall be bnJt1l(h t i n !hi:Fresno Counsy
Courts.or the h noo Divi sion of !hi:Fed erallli§trici Coun for the East ern Di §trici o f C alifornia
7.3 Rights ll!l!!~ies arc Cumulative,Excepe u 1tUI)be C'X prNll~
Slaled .l\~iSl:'in th is A gm:mcnL the ril/hlS and rereedies of the parties are c:umulative.Tho:
e xercise by eilhcT party o f one:or IIIOfC'o fits righlS or re medies shall 001 pll:IC l udo:the e xercise by it.
a l the SIlfIll:tX a d ifferenl t ime,of an)'0lhcT ri l/hlS or remed ies for the samo:tk f.u11 Of llIly od'lc
tkfauh .In ..Jdition 10 the:specifK"ri ghts and ro:mcdics bereia,the panics may mort 10 any 0lhcT
rights or ro:medits available a l ia ...or in n{w ly.iocluding...ithouf:l imitali.>n..~ific pnformanoe.
H :'\oticc and Cwe Periods If cither parl}'fails 10 perfonn under llJI)'
pn",is ion of lhU ~t incl udinl!dncunw:n1S 'l lI»i ,....aia:I barin.1hc:non -tkfaulting party shal l
serve ...riucn notico:of the defaull <lfl the defau lling part~',descri bing the:d efault.and 11K'actions
~10 cure the default.A defaulting party ",ill hav e 30 days from the:da te o f the not ice:10cure
the:bn'ach or fai llltt unI CM a d iffnmt limo:period is 1'fO\'ided i n this AgIl:C'mrn l in ..h ich case the
Jailer s lwll apply.If the default i s nUl s uscepti ble 10 cure within the 30 days.the default ing party
s hall begin IU cure the defa ult ",ithin the 30 da )'!l lll1d alter that di ligently'prosecute the c ure 10
co m pletion.Fa i lure ef'thc defaulling pan)'to cure ",ithin these tim e!shell entitle the non-dcfaolting
pa n )'10 enforce any right or remedy provided in thi!Agreement,alia"',ot in equity .Thi s pnw b ion
is n"t intended 10 modify or extend lUI)'other notice o r c ure period s pecifically provided for in this
Agreement.Fai lur c or de lay i ll gi v ing s uch not ice:shal l no t cons nru re II ...aiver of a ny default,no r
~hall it chon gI.'the l ime o f d efuuh.
II.QEN ERAL P!WV IS IONS .
8 .1 Not ice.Ikmallds and Commun i-cat ion.All not ices.el«1iOlCl,req uests,
acceptances.demands.i nstructions or other comrnunlcatlons (""nolkew or "nnlicesW )10 be g iven 10
llIly pan)'under thi s Agreement shall be in ..Ti ling and shall bedffiTled III hav e been d u ly g iven ei )
on the dale of service i f perr.onail)'se rved on !be party 10 ..born notice is In be gh'm;(ii )wi thin
forty-ci ghl (411)hours after mai ling.If mailed 10 the part)10 ..born notice is III be gi\'cn,by f1J5l class
mail ...tm:h is citber registered.or (ertified ,postagt:prepaid.return n:«ipt requested;(iii)..ithin
'wm l y·foor (241 hotn after hei"f deposiled wjlb •recognized pri vate co urier KrVice:(r.g •Federal
Exprnsl,i f delivered by .pri vate wurier 5rI'Vicc:10 !be party 10 whom notice:is 10 he given,all
e~prepaid;or (iv)whell Sl:'lIt.if given by electronic formal l hat pro,ides vcriflUlMJ n o f
seccessful uansmission.A ll notices shaIJ be pcvpc:rt ).~In the parry m:oei\ing notice u
foi lOVo's :
C1n ':
C il)'of Fro:sno
A ltc ntion:C il)'MUIlIgCr
2 600 f resno Stteel
Fre sno,C A 9372 1
WITII (,OI'IES T O
C ity AltomI;)'
2600 Fre sno S trce r
Fresno C A 9 3721-360 2
Facsimile No .:(559)498·181 5
"
I
I
m :n:l ,OP f.R :
FFDA l'rope nies.u.c
Alln :l)ari 1l5 As.'\offll i
1396 W.llcmdon A\'enue.Suite 10 1
Frc:mo .CA 'n71 1
WUH C UI'Ii'S T O :
FmA Properties,U C
A ltn :General Counsel
13%W.Hm>don A~muc ,Suite 10 1
Frnno,CA Q)7 11
A part}'may chan~..ils add rn s~'noti....given ao::eording In th i,,uh5cctio n.
8.2 Co n OiClQ (J D!e rnu.No member,oftkial offiC<'l or emplcyee o ftht-
Devc lopc:"r or City .mall have an)'diR"C 1or indirect interest inth is Agreemen l,o r shltI l participate in
an)'decision relating to this Agreement .....here such i nterest or parncipano n is prohibited by law.
No o lTI e..rr,e mployee .or ag ent o f City .....ho e xercises any function or respons ibility conce rning the
p larmi nll:and c;mying OUI of t he Proj ..ct,or any o ther person who exercise s lIn y function or
respo ns ibility concerning an y aspecl of this Agreemem or t he Project, s hall ha ve any pe rsonal
Il nancial interest.direct or indirect,i n this Agreement or t he Projec t.
8.2 .1 Dcvclo pt.'T represents and warrants that it nas not raid or
given.and ....i ll no!p3}'or give.tc an y thi rd pany an y 0l00C:')I o r other con sidetario n for obtainingthis
Agreement.other lhan nonna1 c ost s of conducting business and COSIS o f profC$,~ional services such as
a«:hilects,consultants,engineers and a no me)S.
11-2.2 No co nlnCtor.subconl racto r,medwlOK .IOlI!maJ man.
1abom.vendor or nth«penon h ired or retained by Developer shall be.nor shall an y o f lhcm be
dc:cmco~to be,lhitd-part)benefici aries ofthis Agreement.ra1her ach sudl penon shaJl bedcemcdto
hllve ~Cal thaIlhey shall kwlk In Deveiorer as lheir -»e murt:e o f ~v ery if not paid;and (b)
exccpl as othawise agreed to by C il)'and an y suc:h penon i n .....ri ting.me,'may not enter any e laim <X
bring an y weh ~againSI C il)l under any cif,;~.Except u providal 1I)'la"'.or as
otbeoo.iK egreed 10 in ",,"ling between City and an y such person.each SIK h person shall he deemed
10 have ....ai\ed i n .."ritin g al l righ! !o!lel:L redress from Ci t},under an y circumsunces ....~'eI".
8 .3 NooIjabiljty yf OOkja!)Etnploym iUld A Wlts.No member,
offi eial .officer .ernplojee or agel'll o f U I)'5bal1 be personaIl)'liable to tht-Dneiorer.or 4r'I}'
seccessoe in interest,for an y defaul!or breac h by ('i l)'.
8,4 C9 un ~,Th is Agreemen!may be exectncd inCOWltcTplUtS.and
toge ther each ex ec uted ceumcrpest s ha ll constitute one Agreement.
8 .5 Waive r.A pany ".....a iver of t he othe r 's breach o f nny prevision o f
t his Agn.'C nlcnl ~haIl nol con'litut..Il conlinuing wnive r o r Il waiver o f MJI s ubseque mbreach ofthe
seine o r a different provision of this Al!rcemenl.No prov is ion of th is A~m en 'may be .....aived
"
e",cept Ina ....riling signed by a ll the parlin.Wai\'erof anyone prevision shall not be deemed to be
a warver of lUI~'other provision bl:R'in.
8,6 ArtomcY'°h .-g .[f 1 p&1)'iniliatesordel<:nJs htil!lalion or lUI)'legal
proceeding rq!winillhe mfortemml ofthis Agnxmt'nt.the:pn:\ailing part}'in such liligaliorl or
proceeding.in aJdilion to an)other relief IboII 11\1-)be graraed,shall be ennued 10 ~
anomeys'fees,A norTK)s o fees ~I include aUome)"S 'fees OIl any apfQI .A f*1y entitled to
a ttorneys'fees Wli be m!lt!ed to all other L'RM>I'IIbk C05I5 for in \·estillilinil the:Iction.reta.ininll
e",pcr1 witnesses,taking lkpositiom md d iscovery.and all other IlC!Cnsary costs in.,:um:d with
,t sp«t to the:Ilction.AU such tees shall be decmtd to hI.'e accruN 00 COfTIlI'Itntt'UI of tht
Ictton and shall be rnforcnbk:..hc:ther Clr IlOI such llCtion is peoseeined 10 judgmenl.
8.7 Governing La"'.1his Agrttrnml shall be iOIerprt1td and enforttd.
and the:ri ghiS and duties o f the parties under thi5 Agrttrncnl (both procedural and suhslanli\-o:)d1aJ1
be d et ermined aewrdinil io Ca lifc>mil [e w .
8.8 fi!nb!:{AloS~.Each pany ...'illtake any furt rn:r &CiS Wld "";11
sign lind deliver an y furth er instruments req uired 10 can)'out the in tent and purposes of th is
A greement.
8.9 E n lire Ulllk·Cjt iUld jnll.of th l:'Parties.The tKhi bits refe renced as
a ttached arc hy s uch re feren ces incorporated int o thls Agreemem.Thi s A greement ,including
exhibits.is th e e nti re u nders tanding IlIld agrel'ml'nl of th e part ies,A ll prio r disc ussions,
unJerstandings.and wri tten a g reements are s upe r>iedOO by th is A ~m""nt .Th is Ag ft.'<:m<,nt s hall
001 be modifi ed ex cept by writte n ins lf\lllM:n t duly IIppro w::d as req uired by Ilw and ex ecuted by
au lhorized represernativ es o f'the parties.S hould tbe terms of an)'e xhibit conflict ..illl the bod )'o f
th is AgJttmrnt.the bod y o f thi s Agreement shall govern.
8.10 COnxm._R.....!W""hl rngs.U nless this Agrecmcn,specifically
a uthorizes a party to withhold ils 1IppRl\'a1.oonsenl OI'sstisfaction inits Slle discretioo.any consmt.
or approval,or satisfaction 10 be:requested or requ ired of.party ,shall not be:unreasonably
"ithbd d,oonditioned Ill"dda)ed.
8 .11 Partialln\-.ljdi ry,Ifllly f*1 ofthi,Agltu......t is held lobe'in \"alid.
void or unenforceable:in any legal ,equitahk:or arbil1llWn proceeding,the re-maindtt of the
A&lccmtnt shall rontimlle in effect,unless no!giving e ffect 10 the invalid or W\mfon:eab[e put
would pn:vent e ffecting the pI-Ifpl»CS o f the Project and this All'tthKm.
8.12 Ambiguity.Thi s Agreement is the resul t of the combined effON of
the JllIftics.Should an)'provision of th i s A~be found Brnbiguom.lhc ambiguiiy ,JWIIIOI be
teKlh'ed b)'consuui ng thi s A g rcnnent in f••ce c rce lIl!ainsl any party.but 1»'tonIIlru inll the trons
accon:Iing 10 their generally accepted IlK'lIIlinll ,considering thc objecuve of the Agrocmmt.
8.13 Nwnber and Gendq.Masculine.feminincor neuter ~Icmt.~and
sinllui lif o r p lural numbers "'i ll include ot her.lo ",hen the c ontext so ind i cates.
8 .14 He admes .A ll hea dings arc for co nvenience on ly.aft'no t a part of
this A gn;clncll!.an d arc nOlto be u,;ed in cn ll~ln l i nil i h is A greement.
21
It 15 Ili!!oJi nl!Upon SLi<;.cgso rs .Thi s Agree ment s hall b ind and i nu~to
thor bClldi l o f the SlICCe$..",-,1"'t i n inkfest,.(ICTS0 1\D1 ~n l ll lives.and lI.\s i¥"s o f each part y.subjcct
I"ue lifn ilation on lTar\1I fer lind a'~sigmTlell l comaieed in this A greement .A n>reference in this
A~'lQI;n l 10 a sp..-<:ifically named ran>.shall be deemed 10 apply 10 any 5UC«SSOf.hei r .
administrator.c x..:<:UIOr.~Lal i~.01'a.wgn o f the ran>"ho has acqui red an in terest in
cumpti_'c with tbe Icrm.~o f th is AglCelllCnt.01'under I,,,.
IU 6 R c:lal iomhi p of thc r;uties.Nothing in thi s Apeemcnl,the Gr.mt
Deed,or any o thcl'documenl e xecuted i n connection with this A gJffIDml shall be coll5UUc:d 115
cre ating a parteershlp,joint venture ,Olj,Ienl:Y .em plo>mml rel atiomhi p .o r si miw-Id illli omhip
bc:t"«n City ar:tJ lhe l}e\-c:loper Of any o f lhe De "elo per ',ccntrectors.SubronUlM:Wrs,em ploy ees,
'~lS.repeescn tetives,uansferc:o:s.seceessors-in-interest or assi!',J1S .Nothing in th is A greemenl
cstabli ~a principal and agent re lalionsh il'hetween the parties.
8 .17 N ature o f the Pro j!X\.The rroject is a pri va te undertaking o f lhe
Develo pe r .A flcrCity com 'C)"!!title 0 1 possession o fth e pro pert y 10 Devel oper .the f k\le lnpa shall
ha ve ex c lusiv e co ntr ol over th e P roperty . s ubj ect to the te rms of this A greemen t and all a pplicable
Federal .S lale and local l aw s.o rdina nces,codes.rcg ula lioll5.~"1andards and ml k ies .
8 .18 Urn!;orJ.;~~."~.T ime is o f the CS SC flCC o f eac h t erm.con dition,and
cove nant co ntained ill thi s Agreeme nt.
8 .19 S u ....·ivlll o f !'{Qv js jQ ns .l oose pro vrsron a expressl y survivin g
expiration o r earlie r rcrmmanon .i ncluding each indemni ficati on pro vision.sh all s urvive the
C lo s ins and e xpiration or ea rl ier t ermination o fthi s A grecm em ,and s ha ll not mtr ge wi th the Granl
Deed o r o ther document evidenc ing an y inle rnt in real property .
(SIGNA TU RI::S APPEAR ON NUl PAGEl
Agreement o n th
C m pan.
y------~
Dated:/0-2
The abo ve p tr:0"to exec ute th l.agre tm e nt b •or'a Nota .Pu bli aud 1/I a "fit 'n otarv
a n o -ledements.
:.il .
•:ns r )15 n_'r.;I
1 0
..
R.l:
n:IIIHlT A
M H :MAr
A L A V £A 5 S T E c -...I
STANIS AU5 S T R E ET
Pruiect D ala
lJu ihli n ~~A w _Triplex (4 Bu ildings Total)
2 SIOf)'Building
Uni t I =I BRlIBA "635 s f
Unit 2 =IURl I BR =784 s f -1568 sf
Total Build ing Area =2,203 sf per bldg
2,203 x 4 Hldg s =8,812 sf
Bu i ldin ll ~C·-Li ve Wor k w f2 C:Jr Garages
3 S lory Building
2 J:UU2 BA =lAI4sfeach
Office Splice =199 sf
To ta l Per U nit -1,6 13 sf
1,613x 9 pe r bldg =14,517 sf
T e tal lled ruu m Mil.
IHRII fl A -40 unit s (5 80/0 )
2 H Rl2 F1 A -15 unil s{22%)
2 H Rl2HA (nat l =14 unil s(20%)
Total D welling Un il ('ounl =69 unit s (100"10 )
T ot ai ll ed room Co unt =98 bedrooms
Equal s I parking stall per bedroom with 7 e xtra
stalls for a ratic o f 107%perking per hcdroom
O ffice I Ret ail
3 Story Bui lding
3,532 sf per !loor
3,53 2 x 3 fl eers =10,596 sf
8 par king stall s
B uildin !:~II"-e Ple x (7 B uildi ng s T otal)
2 S lol')Bu ilding
Unit I =IBRlI BA =775 s f (lI 2 ]
Unit 2 -\BRl lDA =792 s f (x 2)
Unit 3 -2B IU2BA =924 Sf(lI 2]
TOI3I B uild i ng Area "4 ,982 sf per bld g
4 ,9 11 2 x 7 bldgs =34,874 sf
lIui ldi n!:-n ''-Liv e Work
3 Sto ry Building
2BRl2 BA =1,4 14 s f ea ch
Offi ce S pace =608 s f
Total Per U oit =2.022 s f x 3 per h ldg9l,066 s f
6 ,066 s f II 2 b ldg s ~12.132 s f
T n t .II'u kin !:
Open St alls =33
2-Car Garages =18
I C ar Garages =54
lola!Parking -105
NOT E :Developer intends 10 develop th e Project s ubstan t ially i n Ih e fonn ami manner presented
herein.Developer ma y,how ever.mak e changes,revisions.amendments. o r alternations t o the
Project (including th e number and Iype of res idcmiaj units and am ount of commercial space,IlJId
configuralion or layout of the same)subjL'Ct to the ap proval ofthe C ity Manaji:er.w h ic h approval
shall not be unreasonahly withheld.
E XHIBIT A-I
L E GAL LlESCRI I'T1 0 N
TH E L A !"'Il I ~EJ<'EK KEn TO H Ellll N BELOW IS S ITU AT EIl I1"TIIE C ITY OF m~:SNO .
C OUNT \'OF FItESNO , STA TE Of/CALIFORN IA,ANIl IS IlES C IUHEI)AS FOLLOWS:
I'ARC EL I
APNS 466-1 4 5-02,0 3 an d a portion of 01
TIUll po rtion o f Bloc k 88 o f th e To wn (n ow C ity)of'Fresno.reco rded i n Vol ume I ,Page 2 o f PiaIS,
Fresno C ounty Reco rd d escrihed a s fo llows :
BEGINN ING atthe m ost Southerly co rner of Lot 16 of said Block 88 ;t hence N0I1hw esterly along
the Southwesterly line o f the Ncrtbcastcriy Hal f of said Block 88 ,a lso be ing a lon g th e N \lrth easte rl ~'
righ t-of-....'8.y line of th e 20 foot all ey in said Block 88,ro a po int on th e S o uthwesterly line of Lot 6
o f said B lock 88 .said poi nt be ing 16.00 feet N orthwesterly from the mo st Southerly co rner of s a id
Lo t 6;thence Nonheasterty al ong a l ine pardllel with a nd 16.00 feet No rthwesterly of the
Southeasterly line of said Lot 6 to th e intersection with the Northeasterly l ine of said Lot 6 ;th ence
Southeasterly along the Northeasterly line of Mid Block 88 ,also be ing al ong th e Southwesterly right -
o f-way line o f Van N ess Avenue ,t o th e most Easterly co rner of sa id Lot 16 ;th ence Southweste r ly
a long the S outheasterly line o f said Lo t 16,alSll being al ong th e Northwesterly right-of-way line of
S tanislaus Street to th e Point o f Beginning.
T OGET HER W IT llthe underlying fe e interest,if any ,adj acen t to the a bove described property i n
and to t he adjoining public wa y.
Res ulting in on e Parc el.
Contains an area o f 39,900 square fee t ,more o r less .
SUUJECT T O a ll e a~e m en ts ,agreements.and covenants of r ecord.
PAR CE l.2
APNS 466-1 4 5..()4 ,0 5 lind 06
1llat portion o f Bloc k 8 8 of the To wn (now City )ofFresnu .rec orded in Vo lum e I,Pug e 2 o f P iaIs.
Fresno County Record d es cribed as follows:
B EGINNING at th e m O ~1 So utherly co mer o f Lot 1 7 of s aid Bleck 88 :thence Northweste rl y along
th e Southwesterly l ine of s aid Bloc k 88.also being along th e No rthea' te rly right-of-way lin e o f
Fulton Street.to the most Westerly cOllle ro f Lot 26 of sa id Blodi.88 ;th<."OCc N ortheasterlya long the
N orthwesterly l ine of sai d Let 2 6 to the most Northerly co rner o fsaid Lot 26 ;thence S ou theasterly
alooi!:the Northeasterly l ioe o f th e So uth wester l}'Hal f of sa id Bloc k 88 ,also be ing along the
Southwesterly right-of-way line of t he 20 f oot alley in sai d Block 88 t o the most Ea.,ter ly corner o f
sa id Lot 17;tlience S outhwes t erly a long t he Southeasterly l ine of said Lor 17,al so be ing al ong the
Northwe sterly right-of-way line o f Stanislaus Street to the Poi nt o f B eginning.
TOG F.TIIER \\ffil lhc undalying fee int erest.i f any,ad Jl1CCflt 10 the above described property i n
and to th e ddj oining pu blic "'ily.
RC'SIl ltinl!in one Parcel.
Con~ifl.1,an aTC:II o f 17.soo squano fed.~or less .
SU BJ ECT T O al l casemcn~agr«menl$.,and co venants of record .
PARCf:L J
API'466-14 $-68
Thai ponion of Block 88 o f th e T own (lJI)W C ity) o f Fresno.recorded in Vo lume J.Palle.2 o f Plats.
FIT§IltI C nwaly R ecord descri bl:d 1I5 fo lio,":
BEGINNING at th e most We slCTi y oomcrnfLo!32 o f said Block 118;Ihcncc NOfthc:O!._terlyalong the
Northwes terly line of said U>I 32.also heing alonll the Southeasrerfy right-of-way line o f Calaveras
Slm:t. to the most Northerly comer o f sa id 1.01 32:t hence Souihcasterly a long the Northeasterly line
of th e S o uthw este r ly Il aJf of said Block 88 .01$0 hcing along the Southwe sterly rigbt-cf-way line of
the 20 foot a lley in said Block 1111 .tn the most Ea~t e rl y c omer of LOl 29 in sai d Bloc k 118 ;th ence
South westerly along lIle Suulhea.~terlr line of said Lo t 29 to the most Southerly comer of said 1.01
29;thence N o rthwesterly al ong th e So uthwesterly l ine of said H lock 88.a l$l being along the
Nol'1hC'llIite rly right-o f-way l ine o f Fulton SU'eet 10 the Point o f Beginning.
TOOI':THER WIll-I the undcrl)'in g fee anerest,i f an y.adjacent t o the a bove described property in
and to the ad join ing publ ic '.,ay .
Resul ting in one Parcel,
Con Wfl.1,an IIl'n o f 15.000 sqUlU"C fen.~or IC'SS.
S UBJECT TO al l c:asnnen ts.~l$.,and (:O,mants o f record .
PAR CEL.(-CO:\"TI SGE."lriT t TPOS APPROVAL OF ALLEY"ACAUO'BY TIlE c nv
OF .·Ri:.~M J
the Southeaskrly 250 lix1 of the Al ley in HklCl1&.20 feel ...i de.l ~a vi Dg!he Ci ryofFresno "'ilh!he
NorthwntCTly 150 feel oflhc:AllCJo"in Bloclll8.2Q feel ...ide.as sho ..n on thc S ite Map a ll'll:hc:d
hcrcitl to Exhibit A.
S UBJECT T O lhc:retention ofa uti l ity easement in fa vo r o f !he C ity o f Fresno and all other utilities.
2 0 12-022
15-A ·llllK O
Plat 2655
n,III81T II
"-<'Oft:or Ill'l:LO l'.'\I F5T
A 'Il 8.~~IC Dt:sIG :\
[k..~p',"S 10 Oe>.dop ._'mU;N n:.•;''tlillI rm&lli pro;ea on the P1o;..d consiSilinc of
-rP'U1imMdy sUty nme(69I .csidtnlw uni1 1 and ~00lDIDI::r'riaI tpKC_TwmIy four(2-i1
of the •'to 'lIiaI UIliIs (the ~Affohiloblo:LTftiui ~10 be R"IIICd and p u c••ed ~Affonirohk RmW
IkMni ftJ.
~doper i/lII:Ns 10 lkvdop the P1 ...;ta ~tiall)'in the form and manner prnmIed htm",-
~dop:r ~'.ho'oo~er.nWo c chMgn.rnilionl.amrodmml.l.Of .tlnMbonllO tbc J>roj«I
(incl udina the number and t}l"of resident.units aid amotIllI of cammcn:ilII spKe,MId
cvnfi,_ion Of byout of the samc:)sut;«t 10 ibe ltppro ~lII uf ibe Ci.y M...,..,-...il ich -r1"U vlll
IIIWI not be ~o;onabIy withhc:ld .
J:X lIlIII T C
l >t:R t·()K ~I A."C t:SC H E D ULE
Im prove ment s s ha ll be completed within 18 mouths of the start of ecnstrecuco .
C on~lruc tion 10 commence by :December 30, 2015
Con~lruction 10 he com pleted by:M ay 30,2016 ("e lln _lru cti"n C n ml'lct in n I h l ~")
h ..m.Co mpl..IN T im ..f or p ..rfo rm sn c..Fesl ims lN Osl..
De v..loper e xecutes and del iwn OIl <)C be fore October l B.20 12 lktober 111.2012
A gleeDi<C1l llO C ity
City sJ'I'Illvn Di sposition and On or be fore October I B, 2012 Octohcr IB,2 012
Deo.-el opmenl Agr C'eJllm l (DOA)....i th
DC'velopt:r for Project
SY1'1nJ»ion and Arr>roval C ertificates Wi lhin 15 days after approval OcIObc:r 31,2012
2f1mwanec .The:Developer furnlsbe s 10 o f Ihi s Agreem enl by Cily.
City a f'Pl"OJ'riale c ertificates (If bodily
inj W}'amI ['T upert)'damage in sueance
po licies.
Ci ty executes Ag recmclIl Ancr receipt and approval o f November 2, 2012
in.-unmoe certificates and
r ~"cl p t o f executed d oc uments
from Developer.
0 e ,,"cnl o f Construction of On a schedule lhal ....ill Dec ember 30,201 5
Developer ',lm provemenls.Within 30 coordinate with the Developer ',
da ys ,ftC\'receipt of bu ilding permits by COII-'<trt.IC lion sc hedule .
the Developer,consITuction $hal l
commence uri me Ilrsr p ~of
im pro\-emctllS dc:sil!Jl3led by De\'eloper
10 be OOOSlr \lded on the Project S ite .
fnmpktion o f Construeti<>n o f Within the specified months May 30.201 6
IX..-clwer',lmrrovcmml.'i.Th<.Ikr romrnrncancru tb=of b)'
Developer shall complete construction o f the 1~1oper.00110 exceed 16
the improvanenlS 10 be conmuctcd (lfI monlhs after ~Io f
the rro;«1 She.eonsuuctioo
bsuancs -Certificate of Complctiou.Promptly after oomplction of all June 30 ,20 16
City shall furnish the Developer ....ith.wnstruetion and upon "'ritleD
Cmilicale ofCompktion on the Proj ect request thereof b)'the
Developer.
. ..
•..
R :.
.o f 0 trucri 0 \'1 nt l o f omplction i c rded t th reques t
ud ~r the benefit o f the it)'r Frc n .
A ,
B
c .
D.
recomed L--__..~
reauired morovernents tn...,.·..h
as -ed
venants and
p ~L
E.IT Y'.is s uance of th is
nc l sive evidence th
e rtifica t .m plc tion is
nstru ti n n Phn e of
'\'.:1 prnent f th
C.()nstructi imp
reI
A penauung
r 1 he
ti no
n
This elease of o nstructi n ompl lion '11 II n t ed erned
nan an
m le ri
F 'A Pro zrti ~
Iif mi limi ed liabi lit mp n
Gj OJ 2----<-=i-----'---
r 10 m I ti n U~I UI"e Property
Ll .
I':__"';;"'--'~----'-_
:.'11 1 H
()
D
J."uabl co nsiderat i n,
Jl
I 1 II.
I 3 releas M I rial into theenvironment urs,runt e will.
s 0 11 S 5 ible er the release. furni II rant er \'tlh n c py 0 .any repo I tin th reto nd copies of nil
corre nde nce v ith o v rnrnentnl agcn i latin to the relc ponre l t,I mm "ill Iurn i 'hGr ntor
with cop f tiny oth renvironmental cntitlcm nt inqui ri s rclatin to r 11m erin zth Pr I .1 including,
i g rh rm te whi h
c.G rantee release Jrtmtor f
o nne I d \ ith th environmental co nditi n til
lairn ran t I:rna have agai ns t irantor und er th e
n I.
..................rd I }h I
om n
IN WITNES \HEREO .th e G rantor has caused this instrum nt to be ex cu red on its behalf'by its
respective officers th er unto d uty authorized,this ,...-,?da of r 20 12.
"GRA OR"
C ITI'F F ESNO
a municipal corporation
By:
Its:Cl~/If.....
Date :/0-:z-')....-I 2----
J
A ITAC H'\IL'T :"00 .'GkA.'T DEED
fTDA PRO l'f RT![!>,!.LC
!.U'A!.U£!>C NIYl IUr'Io l lF TIlE rROl·[R T lr~..
Till:l.A ~I)RJ:n;R 1U :O T O II £R EI:"ri RF.I.OW IS S Il UAT E U 1:0;1 m :c rrv OF J·Rr$NO.
C ()IJ l\"TY OJ"nU:S:"riO .STAn :O F CA U H IR NIA .AI'D IS m :so Ulu:o AS rOL LOWS :
P AR CEL 1
APNS 4 66-14 5-0 2,0 3 and a portion of 0 1
Thill portion o f Bl oc k xx o f th e Town (now Ci ly)of I'resno,recorded i n V",I"'lIl<'I ,('age 2 of Pla ts,
f re sno Co unty Record d esc ribed Il.'I fello ws:
B E G INNI r.:G a l the:most Southe:r ly'comer of Lot 16 o f said B lock 11 8 .thence No rth ....e slerly a1on!!
the Southwesterly l ine of the J-;ortJH:a,,'erly 1l o1 1f o f sai d m ock 11 11 .also be i"tl along the r-!Ortheol:,krly
ri ght -of-WlI Y'l ine o ('he 2()(001 alley in sai d B lock 1111.to a poinl on tho:SouthwCSlerly l ine o f Lot 6
o f sai d B lock 11 11 .said poinl be ing 16.00 (eet Nonhwnl-CTly lTum tho:IT1051 Southerly comer o f sa id
Lot 6;~No~crl}'along a line paralkl ..ith and 16.00 feel North"''eSledy of !he
~y li ne of said Loc 6 10 ee intersection ...ilh the Nonhca.'<taiy·line of said Lot 6 ;tbence
Southeaslerly'along !he Nor1heasIcrty line of said B Io:od.II ,also bcing along the SouIhwe:sIerty righl '
o f-..a),line o f Van Nns A\"cn uo:.10 the mosI Eas1 erl)'cornero f said Lot 16 ;tbeece SouthweSlni)'
along th e Southeaslerly l ine o f sa id Lot 16 .a1!lO being al ong !he N orth"'~l erly ri gh t-of-way l ine o f
SWlisla u.s S In:eI 10 the poim o f Begi nning .
TOO El"HE R WITI l lhc un d erlyi ng f cc i n t erest ,i f a ny.adjacemte the a bove d escribed propert y in
IUId 10 the ad j oining p ublic wa y.
Rcs uh ing in one Pa rcel.
ContAins an area o f 39 .900:;q uare ft et,more o r less.
SU BJECT TO all e8.'tCmC'nt s.agreements.and rovenanl5 o f record .
P ARC EL 2
API\S 466-I4 S-04.0 5 and 06
Thlll t portion of Bl ock 88 o f the TO"'"lI (DOW Cil)')of fresoo.rrcorOOd i n Volume I ,P age 2 o f P iau.
F n:mo C OUlI l)'Ro:cord dnaibN as follow'S :
B EGINN ING al lhe most SoutbcTly'comcr ofl.OI 17 o f mi d B lock III ;thrncc:J-;orthwCSlerly'al ong
the:Southw esterly l ine o f sai d Bl oc k 8 8 .abo bei ng along th e Northea.o;t erl)'ri ghl -of -"'lly li ne o f
fuh nn S treet.10 th e most W esl erly co m erofl .0I 2t\n f said B lock 88 ;ul<:nce Northea.<\<:'rl yalong the
N orthwester ly li ne o f sai d lot 26 to the m ost N o rtherly co mer of said 1.01 2 6 ;t hc:ru::e S n <'!l he ,,-slerly
alon g t he Northenstcrly line o f t he S ou thwe sterly lI al f o f said B lock HH ,else bei ng a iling t he
S uuthwesterly righ r-of.way lint of the 21)fool lillcy in said Rl ock 8 8 In Ihe mu st Easterly comer of
~id 1.N 17 ;thenc..,Southwntcrly a1un~the Sou~crly l ine.of said lnt 17.al'\l'l ~in~aJ oog the
NortbWl,'i t erly ri gh l o(>f~",,,y line o f Stanislaus Stm:1 lu the Puinl o f Beginning.
TOG f,."-Il ER WITH the undcrl~i~fee inte"'"5\,.i f lUIy .aJjactnt lo th<:ahn\'t described P"lI ..rt ~'in
and 10 t be adjoini ng public "").
Resuhing in ODI:Parcel.
Contains an area 007,500 squar",fed"mar..,or jess,
SU 8J I::CT TO all cascrntllb.~nt:s..md cevenams o f record .
PAK C t:L J
APN o&M-14 S.()8
Tha,port ion o f Rlock 88 o f the T own (no w Cil)')of rresno.rewrded io Vo luOlt I .Page 2 o f'Plats ,
Fre sno County Record d escribed as follows:
HEGINNING atthe mOSI West erly cc mcr of'Let 32 o f said BInd 1111 ;the nce N orth ea~'ctl y nlo Jlg the
North westerly liJIC of said LOI 32 ,a lso hciJlg along the Southea.~lerly ri ght-of-way lin e of C alaveras
S trcrt.10 the mo st North erly comer o f said Let 32 :thence Southeasterly along the No nhcastcrty line
of th e Southwcsterly Half o f said Block 88.al so bei ng along th e Southwesterly right-of-weylinc o f
lite 20 fOO l allc),in sai d Bloc k 88 .10 the m<)S1 Easserl y corner o f Lol 29 i n said Blod..88 ;th ence
Sou thwesl erly along the Southeasle rl y liee of sa id Lot 29 10 !be m ost So utherly COTTlC'l"of said Lor
29 ;th ence N orthwesterly a long th e So uthwes lc rly l ine o f said B loc"88.a lso be ing al ong the
N on hea.~I)'right-o f-....ll)·lilK'o f Fu llon St n:c'l to the Poinl o f Beg inning .
TOOETIIER \\Tn f !he un<kr lying fee i nternl.if any .adjatX'nl lu the above descri bed propo:ny in
and It:I the adjoining pu blic W3)·.
Resulting in eee Parcel.
Con!airu an ami of 15.000 sq uare feet.ITIOU oe less .
S UBJECT TO all eeseroeau,agn:cmmts.and CUV nJan15 of n.oron1
20 12.(122
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