HomeMy WebLinkAbout1979 024 CC RESO1979 024 CC RESO (Ìì ð Æ& RESOLUTION NO. 79-24
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF BALDWIN PARK APPROVING
A DISPOSITION AND DEVELOPMENT
AGREEMENT AND SALE OF LAND
WHEREAS, the Redevelopment Plan for the San Gabriel River Redevelopment
Project has been duty adopted; and
WHEREAS, the Disposition and Development Agreement attached hereto as
Exhibit A" has been prepared for purposes of carrying out said Redevelopment;
and
WHEREAS, a public hearing has been duly held pursuant to Article II,
Chapter 4, Part I of the California Health and Safety Code; and
WHEREAS, the Baldwin Park Redevelopment Agency has previously prepared
an E.I.R. on the redevelopment project; and
WHEREAS, the development pursuant to the Disposition and Development
Agreement between the Agency and Lewis/Vanguard Developers is substantially
similar to the prototype concepts evaluated in the E.I.R. and the changes
in the project are insubstantial and will not require any revision of the
E.I.R., no new information of substantial importance has been made available
to the Agency indicating any new environmental impacts or the availability
of any mitigating measures applicable to the project.
NOW. THEREFORE, the City Council of the City of Baldwin Park does
hereby resolve, determine and order as follows:
SECTION 1. The City Council hereby finds and determines that the
entering into the Disposition and Development Agreement by the Redevelopment
Agency attached hereto as Exhibit A" and incorporated herein by reference
and the sate of the land pursuant to said Agreement are in the best interest
of the citizens of the City of Baldwin Park and are in conformity with the
Redevelopment Plan.
SECTION 2. The Disposition and Development Agreement and the sale of
land pursuant thereto are hereby approved.
SECTION 3. The City Council further finds and determines that an E.I.R.
has been prepared on the redevelopment project in conformity with C.E.Q.A.
and the guidelines adopted pursuant thereto and no further environmental
assessment needs to be prepared with respect to the development contemplated
by this Disposition and Development Agreement.
SECTION 4. The City Clerk shall certify to the adoption of this
Resolution.
PASSED, APPROVED AND ADOPTED this 15th day March 1979.
/
MAYOR
ATTEST:
THELMA L. BALKUS, CITY CLERK
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& Resolution No. 79-24
Page 2
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS:
CITY OF BALDWIN PARK
I, THELMA L. BALKUS, City Clerk of the City of Baldwin Park, do
hereby certify that the foregoing Resolution was duly passed, approved
and adopted by the City Council of the City of Baldwin Park at a special
meeting of the City Council on the 15th day of March, 1979, by the following
vote:
AYES: COUNCILMEN Aguilar, King, Izell, Me Neilt and Mayor White
NOES: COUNCILMEN
ABSENT: COUNCILMEN
THELMA L. BALKUS, CITY CLERK
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 7f-^
3^^7?
SAN GABRIEL RIVER REDEVELOPMENT PROJECT
BALDWIN PARK, CALIFORNIA
RIVERGRADE COMMERCENTER
DISPOSITION AND DEVELOPMENT AGREEMENT
BY AND BETWEEN
THE BALPWIN PARK REDEVELOPMENT AGENCY
AOT
LEWIS/VANGUARD DEVELOPERS,
A PARTNERSHIP
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& DISPOSITION AND DEVELOPMENT AGREEMENT
River grade Commere enter
THIS AGREEMENT is entered into by and between the BALDWIN PARK REDEVELOPMENT
AGENCY Agency") and LEWIS/VANGUARD DEVELOPERS, a partnership Developer").
Agency and Developer agree as follows:
I. 100) SUBJECT OF AGREEMENT
A. S101) Purpose of the Agreement
1. The purpose of this Agreement is to effectuate the Redevelopment
Plan Redevelopment Plan") for the San Gabriel River Redevelop-
ment Project Project"), by providing for the disposition and
development of a master-planned commercial and light industrial
park within the Project Area.
2. The development of the site pursuant to this Agreement, and the
fulfillment generally of the Agreement, arc in the vital and best
interests of the City and the health, safety, morals, and welfare
of its residents, and in accord with the public purposes and pro-
visions of applicable federal, state, and local laws and require-
ments.
B. S102) The Redevelopment Plan
1. This Agreement is subject to the provisions of the Redevelopment
Plan which was approved and adopted on December 2, 1976, by the
City Council of the City of Baldwin Park, by Ordinance No. 7^5.
The Redevelopment Plan as it now exists and as it may be subse-
quently amended is incorporated herein by reference and made a
part hereof as though fully set forth herein.
2. Any amendments to the Redevelopment Plan which change the uses or
development permitted on the Site or otherwise change the
restrictions or controls that apply to the Site shall require the
written consent of the Developer. Amendments to the Redevelop-
ment Plan applying to other than property in the Project Area
shall not require the consent of the Developer, except Chat
Agency shall notify Developer of any changes in said Redevelop-
ment Plan and Developer shall have the right to consult with the
Agency regarding any such changes in the Redevelopment Plan until
such time as a final Cert-i ficate of Completion pursuant to 32^i
is issued by the Agency to the Developer.
C. 103) The Project Area
The Project Area" is all of the real property in the City of Baldwin
Park, County of Los Angeles. State of California, as described in
Attachment No. 1
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& D. 5104) The Site
The Site" is that portion of the Project Area shown as Rivergrade
Industrial Park on the San Gabriel River Industrial Park map which Is
incorporated herein and attached to this Agreement as Attachment No.
2. Prior to conveyance of all of the Pite and by the mutual agreement
of Agency and Developer, the boundaries of any of the Site may be
changed or the Site way be divided into more or less parcels. Wher-
ever used herein, the term Parcel" shall mean and include any one of
such parcels and the term Site" shall mean and include all of such
parcels. If the size of the Site is changed from that shown on
Attachment No. 2, all terms herein affected thereby, including but not
limited to the tax increment guarantee performance standards 209
hereof) shall be appropriately adjusted by agreement of Agency and
Developer.
E. S104A) Division of the Site
1. The parties contemplate that the Site will be divided initially
into two portions, as nearly equal in area as possible, and that
one-half of the Site will be conveyed by Agency in advance of the
other. Provisions of this Agreement which refer to half" or
one-half" of the Site are intended to reflect this division, and
such previsions shall not be adjusted if neither portion exceeds
sixty percent of the Site in area. Should the initial portion
conveyed exceed sixty percent, or be less than forty percent,
appropropriate adjustment will be made in 201.4 and other pro-
visions to reflect the actual ratio.
r-. 2. There wilI be further divisions of the halves referred to in 1.
above into parcels" or units", which cannot be delineated at
this time. Where such divisions affect any provision of this
Agreement, the parties will make appropriate adjustment to
reflect the quantity of land involved in such provision.
F. 105) Parties to the Agreement
1. 106) Agency
Agency is a public body, corporate and politic, exercising gov-
ernmental functions and powers and organized and existing under
Chapter 2 of the Community Redevelopment Law of the State of
California. The principal office of the Agency is located at
City Hall. 14403 East Pacific Avenue, Baldwin Park, California
91706. Agency" as used in this Agreement includes Baldwin Park
Redevelopment Agency, and any assignee of or successor to its
rights, powers and responsibilities.
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 2. 107) Developer
Developer consists of two entities, signatory hereto, to wit:
and Lewis Development
Co., a partnership, organized and existing under and by virtue of
the laws of the State of California. The principal offices of
Developer are 9211 Archibald Avenue. Cucanonga. California 91730.
awd 115^ North Mountain Avenue, P. 0. Box 670, Upland. California
91786. Said entities have decided to jointly participate in the
redevelopment contemplated by this Agreement, and have determined
to do so by the use of a partnership as the vehicle therefor.
Notwithstanding such partnership, each of the said parties agrees
that they are jointly and severally liable to Agency for the
performance of each and al 1 of the terms and provisions hereof.
Wherever the term Developer" is used herein, such tenn shall
include any permitted nominee or assignee as herein provided.
II. S200) DISPOSITION OF THE SITE
A. $201) Purchase and Sale, Price anH Deposit
1. In accordance with and subject to all the terms, covenants, and
conditions of this Agreement, Agency agrees to sel1 the Site to
Developer, and Developer agrees to purchase and develop said Site
within the tiroes, for the consideration, and subject to the
terms, conditions, and provisions all as hereinafter provided.
2. Developer will pay to Agency, in the manner and within the terms
set forth in the Agreement, a total cash purchase price for the
r Site estimated as $62.000 per net acre. Net acreage shall be
determined and certified for purpose of computing the purchase
price, by a Registered Civil Engineer. Net acreage for this
purpose is defined as gross acreage less already dedicated perim-
eter streets, easements, and rights-of-way.
3. The final land price will be the actual cost of acquisition of
the Site, public improvements, administration, legal and consult-
ants fees less the net revenue to Agency of the proceeds of the
tax increment bond issue. The costs and proceeds referred to
above will be subject to approval by Developer, and shall be
limited to those relating to the Site, on an apportioned basis.
Agency shall provide Developer with a final budget prior to
execution of this Agreement and any increase of the budget will
require prior approval of Developer if the increase is to be
chargeable to the land price. If Developer fails to approve such
increase. S510(f) shall apply.
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 4. Developer will deposit with Agency, concurrently vi th execution
of the Agreement by Agency, a deposit in the amount of $325.000
which shall be proportionally credited against the purchase price
of the Site or parcels. Said Deposit may he in the form of a
bond, letter of credit, cash or any form mutual ly agreeable to
Agency and Developer. Developer may elect to post two bonds or
letters of credit in the amount of $162,500 each and in such
event, one such bond or letter of credit shall be released by
Agency when the first half of the Site is transferred to
Developer.
B. $202) Escrow
1. Agency agrees to open an escrow for the Site with an Escrow
Agent" approved by Agency and Developer, in Los Angeles County,
California within 10 days after receipt by Agency of a written
request from Developer. This Agreement constitutes the joint
escrow instructions of Agency and Developer and a duplicate
original of this Agreement shall be delivered to Escrow Agent
upon the opening of escrow. Agency and Developer shall provide
such additional escrow instructions as Escrow Agent shall reason-
ably require and as shall be necessary and consistent with this
Agreement. Escrow Agent hereby is empowered to act under this
Agreement and upon indicating its acceptance of the provisions of
this 5202 In writing, delivered to Agency and to Developer within
5 days after the opening of the escrow, shall carry out its
duties as escrow agent hereunder,
Q 2. Upon delivery of a deed to Escrow Agent by Agency pursuant to
5206. Escrow Agent shall record such a deed when title can be
vested in Developer in accordance with the terms and provisions
of this Agreement. Escrow Agent shall buy, affix and cancel any
transfer tax required by law. Any insurance policies covering
the Site are not to be transferred.
3. Developer shall pay in escrow to Escrow Agent the following fees,
charges and costs promptly after Escrow Agent has notified Devel-
oper of the amount of such fees, charges, and costs, but not
earlier than ten days prior to the scheduled date for the close
of escrow.
a) One-half of the escrow fee;
b) The portion of the premium for the title insurance policy to
be paid by Developer as set forth in 5208 of this Agreement;
c) Any State, County, or City Documentary Stamps;
d) Any Transfer Tax.
Developer shall also deposit the Purchase Price for the Site or
any Parcel with Escrow Agent in accordance vith the provisions of
5207.
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 4. Agency shall pay in escrow to F.scrow Agent, the fol lowing fees,
charges, and costs promptly after Escrow Agent has notified
Agency of the amount of such fees, charges, and costs, but not
earlier than ten days prior to the scheduled date for closing any
escrow.
a) One-half of the escrow fee;
b) Cost of drawing the deed;
c) Recording fees;
d) Notary fees;
e) The portion of the premium for the title insurance policy to
be paid by Agency as set forth in $208;
f) Ad valorem taxes, if any. upon the Site or any Parcel for
any time prior to conveyance of title.
5. Agency shall timely and properly execute, acknowledge and deliver
a deed in substantially the form established in 204, conveying
to Developer title to the Site. or any Parcel in accordance with
the requirements of 204, together with an estoppel certificate
certifying that Developer has completed all acts except deposit
of the Purchase Price) necessary to entitle the Developer to such
conveyance, if such be the fact.
6. Escrow Agent is authorized to:
a) Pay, and charge Agency and Developer respectively, for any
fees. charges, and costs payable under this 202 of this
Agreement. Before such payments are made. Escrow Agent
shall notify Agency and Developer of the fees, charges, and
costs necessary to clear title and close escrow.
b) Disburse funds and deliver the deed and other documents to
the parties entitled thereto when the conditions of this
escrow have been fulfilled by Agency and Developer. The
Purchase Price shall not be disbursed by Escrow Agent unless
and until it has recorded the deed thereto and has delivered
to Developer a title insurance policy insuring title accept-
able to Developer and Developer's lender, and conforming to
the requirements of 208 of this Agreement.
c) Record any instruments delivered through this escrow if
necessary or proper to vest title in Developer in accordance
with the terms and provisions of this Agreement.
7. All funds received in this escrow shall be deposited by Escrow
Agent in an interest-bearing escrow account, which interest shall
be payable to Developer. All pro rat ions shall be made on the
basis of a 30-day month.
8. If this escrow is not in condition to close before the tijne for
conveyance established in 203. either party who then shall have
fully performed the acts to be performed before the conveyance of
title may, in writing, terminate this Agreement and demand the
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ & return of its money, papers, or documents. If neither Agency nor
Developer shall have fully performed with respect to the convey-
ance of the Site or any Parcel before the time established in
said Section, no termination or demand for return shall be recog-
nized until 10 days after Escrow Agent shall have mailed copies
of such demand to the other party or parties at the address of
its principal place or places of business. If any objections are
raised within the 10-day period, Escrow Agent is authorized to
hold al 1 money, papers and documents with respect to the Site or
any Parcel until instructed by mutual agreement of the parties or
upon failure thereof by a court of competent jurisdiction. If no
such objections are made, the escrow shall be closed as soon as
possible.
9. Escrow Agent shall not be obligated to return any such money.
papers or documents except upon the written instructions of both
Agency and Developer, or until the party entitled thereto has
been determined by a final decision of a court of competent
jurisdiction.
10. Any amendment of these escrow instructions shall be in writing
and signed by both Agency and Developer. At the time of any
amendment Escrow Agent shal1 agree to carry out its duties as
Escrow Agent under such amendment.
11. All communications from Escrow Agent to Agency or Developer shall
be directed to the addresses and in the manner established in
601 of this Agreement for notices, demands, and communications
between Agency and Developer. Nothing in this 202 shall be
construed to impair or affect the rights or obligations of Agency
or Developer to specific performance.
12. The liability 6f Escrow Agent under this Agreement is limited to
performance of the obligations imposed upon it under 202 to
208, both inclusive, of this Agreement.
13. Agency is not liable for any real estate commissions due for the
sale of the site. Agency and Developer each represent that it
has engaged no broker, agent, or finder in connection with this
transaction whose fees or commissions are to be the responsibil-
ity of or chargeable to Agency.
C. 203) Conveyance of Title and Delivery of Possession
Subject to any mutually agreed upon extensions of time. which shall
not be unreasonably withheld, conveyance to Developer of title in
accordance with the provisions of 205 of this Agreement), shall be
completed on or prior to the dates specified on the Schedule of
Performance", incorporated herein and attached to this Agreement as
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ
& Attachment No. 3. Agency and Developer agree to perform al 1 acts
necessary to conveyance of title In sufficient time for title to be
conveyed in accordance with the foregoing provisions.
Possession of the Site or any Parcel shall be delivered to Developer
concurrently with the conveyance of title, except that limited access
may be permitted as provided in 213. Developer shall accept title
and possession on or before the said dates. Agency shall convey title
to the Site in two phases. Agency shall convey title to each half of
the Site as specified in the Schedule of Performance, Attachment No.
3.
D. 204) Form of Heed
Agency shal1 convey to Developer title to the Site or any Parcel in
the condition provided in 205 of this Agreement by Grant Deed in a
form mutually satisfactory to Developer, Title Co. as defined in
208), and Agency consistent with the terms of this Agreement.
E. 205) Condition of Title
Agency shal1 convey to Developer fee simple marketable title to the
Site or any portion thereof.
F. 206) Time for and Place of Delivery of Deed
Subject to any mutually agreed upon extensions of time. Agency shall
deposit the deed for the Site or any Parcel with Escrow Agent on or
before the date established for the conveyance of the Site or Parcel
in the Schedule of Performance, Attachment No. 3.
G. 207) Payment of the Purchase Price and Recordation of Peed
Developer shall deposit the purchase price for each half of the Site
with Escrow Agent upon or prior to the date for conveyance thereof,
provided that Escrow Agent shal1 have notified Developer in writing
that the deed, properly executed and acknowledged by Agency, has been
delivered to Escrow Agent and that title is in the condition to be
conveyed in conformity with the provisions of 205 of this Agreement.
Escrow Agent shall deliver the purchase price to Agency simultaneously
with the delivery to Developer of a title insurance policy insuring
title in conformity with 208 of this Agreement and shall promptly
file the deed for recordation in the Office of the County Recorder for
Los Angeles County.
H. 208) Title Insurance
\
Concurrently with the recordation of the deed conveying title to the
Site or any Parcel, a title insurance company satisfactory to Agency
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ & and Developer Title Co.") shall provide and deliver to Developer a
standard CLTA title insurance policy issued by Title Co. insuring that
the title is vested in Developer in the condition required by S205 of
this Agreement. Title Co, shall provide Agency with a copy of the
title insurance policy and the title insurance policy shall be in the
amount of the purchase price of the Site or Parcel.
Concurrently with the recordation of the deed conveying title to the
Site or any Parcel, Title Co. shall, if requested by Developer, pro-
vide Developer with an endorsement to insure the amount of Developer's
estimated construction costs of the improvements to be constructed
upon the Site or Parcel. Developer shall pay the entire premium for
any such increase in coverage requested by it.
Agency shall pay only for that portion of the title insurance premium
attributable to a CLTA standard form policy of title insurance in the
amount of the purchase price of the Parcel, Developer shall pay for
all additional premiums in excess of the cost of the CLTA policy for
any extended coverage or special endorsements.
HH. S208A) Condemnation Delay and Expenditure
In the event that Agency is unable to secure by purchase land corapris-
ing all or any part of the Site, Agency will begin condemnation pro-
ceedings without delay. Agency will advise Developer at all stages of
its progress with respect to such proceedings, and all times for per-
formance herein will be deferred by the period of delay caused by the
necessity of such proceedings. Developer shall have the option at any
time to proceed with development if Agency is able to deliver either
title in accordance with 205, or possession and a policy of title
insurance in form satisfactory to Developer; or Developer may at its
option defer the dates of obligation herein, in which event all obli-
gations set forth in this Agreement or the Schedule of Performance
will be deferred until Agency is able to deliver marketable title. In
the event that such condemnation proceedings appear likely to result
in substantially higher acquisition cost, or substantial delay to
Developer, it shall have the election to either terminate this
Agreement in accordance with 510(f) or proceed with the development.
in which event the cost of such awards will be included in the cost to
the land. Costs of any condemnation action which Agency abandons will
be borne by Agency.
I. 209) Assessments and Alternative Payments
1. Assessments, if any, on the Site or Parcel levied, assessed, or
imposed for any period commencing prior to conveyance of title
shall be borne by Agency,
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ
1979 024 CC RESO (Ìì ð Æ
& g) The provisions of this 209.2 have been agreed to upon the
assumption that ad valorem taxation of real and personal
property will remain in effect on each date to which this
section applies as presently in effect. No change which
increases the amount of tax liability shall increase the
amount to be paid by Developer hereunder over what it would
have been absent such change.
J. 210) Occupants of the Site
Except as otherwise provided in Scope of Development. Attachment No.
4, the Site and each Parcel shall be conveyed free of any possession
or right of possession except that of Developer and the easements of
record, which shall be subject to the Developer's approval.
K. 5211) Zoning of the Site
The Agency hereby represents and warrants that zoning at the time of
conveyance will permit development and construction of improvements in
accordance with the provisions of this Agreement and the use, opera-
tion and maintenance of such improvements.
L. 21.2) Environmental Approvals
Agency hereby represents and warrants to Developer that any and al1
environn^ntal approvals required to permit the development of the Site
in accordance with the Redevelopment Plan have been granted; that an
Environmental Impact Report covering the Site has been prepared and
approved by all required governmental agencies and that Developer
shall not be required to obtain any further environmental approvals as
a condition to the development of the Site in accordance with the
Redevelopment Plan. f
M. 213) Condition of the Site
1. Agency shall, prior to conveyance of the Site or any Parcel and
without expense to Developer, perform the following preparatory
work unless Agency and Developer hereafter agree in writing that
any of such preparation shall not be done, or that it shall be
done subsequent to the conveyance of the Site or Parcel). Devel-
oper reserves the right to perform such preparatory work and
Agency and Developer may make appropriate adjustments in the
purchase price specified in 201,3 to compensate Developer for
such services:
0 a) Demolition of existing buildings and other improvements,
including the removal of foundations and basements;
b) Removal of concrete, concrete foundations, masonry, and
asphaltic flat work and walls, excepting those walls, if
any, needed to buttress or retain adjacent properties and
the public rights-of-way;
10
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& c) Removal or abandonment by Agency or by the appropriate
public body or utility company of utility lines, installa-
tions, facilities and related equipment within or on the
Site or any Parcel, unless otherwise noted on the Scope of
Development;
d) Grading and back filling and compact ion of former basement
areas or excavated areas, water wells, or cesspools as
required by regulatory agencies.
Agency agrees that if any or all of the items specified in
M.l.(a)-(d) above are performed by it. such work shall in no way
render the site unusable or less usable than its condition prior
to such work.
2. It shall be the sole responsibility of Developer, at Developer's
expense, to investigate and determine the suitability of soil,
water table level and other conditions and the suitability of the
Site or Parcel for the development to be constructed by Devel-
oper. If the soil or other conditions of the Site are not in all
respects entirely suitable for the use or uses to which the Site
is intended to be put, then it is the sole responsibility and
obligation of Developer to take such action as may be necessary
to place the Site and soil conditions of the Site in all respects
in a condition entirely suitable for the development of the Site,
or terminate this Agreement under S510(b) within thirty days
after Agency has provided Developer with a valid right of entry
onto the Site for testing purposes.
3. After Agency acquisition of the Site or portions thereof, and
prior to the conveyance of title, representatives of Developer
shall have the right of access to the site at all reasonable
times for the purpose of obtaining data and making surveys and
tests necessary to carry out this Agreement. Developer shall
hold Agency harmless for any injury or damages arising out of any
activity by Developer pursuant to this 213. Developer shall
have access to all data and information on the Site available to
Agency.
III. S300) DEVELOPMENT OF THF: SITE
A. 301) Development of the Site by Developer
1. 302) Scope of Development
r^
The Site shall be developed within the limitations established in
the Scope of Development incorporated herein and attached to this
Agreement as Attachment No. 4.
11
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 2. $303) Preliminary Drawings for Devel.opment
Developer has prepared and submitted to Agency a Site Develop-
ment Plan" appended as Attachment No. 5. This Site Development
Plan" is hereby approved by Agency. Developer agrees to furnish
the drawings and submittal information specified in Attachment
No, 3, Schedule of Performance, to Agency for Agency's specific
written review and approval. Review of these documents by Agency
will be in accordance with the Schedule of Performance.
3. S304) Preliminary Drawings and Changes
The development shall be as generally established in the prelim-
inary drawings and related documents except for such changes as
may be mutually agreed upon between Developer and Agency.
4. $305) Final Construction Drawings and Related Documents, Site
Development
Developer shall prepare and submit Final Construction Drawings
and related documents for Site Development to Agency for archi-
tectural review and written approval at the time established in
the Schedule of Performance. Final Construction Drawings are
hereby defined as those in sufficient detail to obtain necessary
permits. Agency shall have the right of architectural review of
al 1 plans and submissions. Any items submitted and approved by
Agency shall not be subject to subsequent disapproval. Devel-
oper, upon receipt of a disapproval, shall revise such portions
as are rejected and re submit to Agency after receipt of the
notice of disapproval within the time period set out in the
Schedule of Performance.
If any revisions or corrections shall be required by the City or
any other agency, department or bureau of the City of Baldwin
Park, County of Los Angeles, or State of California having juris-
diction. Developer and Agency shall cooperate in efforts to roeet
such requirements or to develop a mutually acceptable alternate.
If Developer desires to make any change in the Final Construction
Drawings and related documents for Site Development after their
approval by Agency, Developer shall subnit the proposed change to
Agency for its approval. Notwithstanding anything to the con-
trary contained in this $305. minor field changes commonly re
cognized in the cons Cruet ion industry as minor technical ad jus t-
ments in construction documents and plans and anticipated
performance shall be approved or disapproved by the Executive
Director of Agency within 24 hours after their submission to the
Executive Director by Developer. Otherwise, Agency shall notify
Developer of approval or disapproval in writing within 15 days
12
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& after submission to the Agency or the*next clay after the earliest
Agency meeting, whichever is preater.
5. $306) Construction Praying and Related Documents
Developer shall prepare and submit Construction Drawings and
related documents for buildings to Agency for architectural
review and written approval at the times established in the
Schedule of Performance. The building drawings and related
documents shall be submitted in two stages—preliminary and final
working drawings. Final working drawings are hereby defined as
those in sufficient detail to obtain a building permit. Agency
shal 1 have the right of architectural review of al 1 plans and
submissions. Any item submitted and approved by Agency shall not
be subject to subsequent disapproval.
The provisions of $305 shall apply to Construction Drawings and
related documents for buildings.
6. $307) Cost of Construction
a) The cost of developing the Site or any Parcel and construct-
ing all improvements thereon shall be borne by Developer,
except for the work expressly set forth in the Agreement or
Attachments to be performed by Agency or others.
b) Prior to the commencement of any public improvements on the
Site required to be performed by Agency under the Attach-
ments, Agency will cause budgets for the cost of such
improvements to be prepared based upon final plans and
specifications prepared by Agency. Developer may, at its
election, perform such improvements and in such event Agency
will reduce the purchase price to the extent of the budgeted
cost of such Improvements. Should Developer not within
thirty days after being informed of such amount, advise
Agency in writing of its election to perform such
improvements. Agency vill cause such improvements to be
expeditlously accomplished at its expense.
7. 308) Schedule of Performance
Subject to extension of time for causes specified in $604,
Developer shall begin and complete all construction and develop-
ment within the time specified in Attachment No. 3, Schedule of
Performance, or such reasonable extension of said dates as may be
granted by Agency in writing. The Schedule of Performance is
subject to revision from time to time as mutually agreed upon in
writing between Developer and Agency.
13
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 8. 309) Bodily Injury and Property Danfage Insurance
Developer shall furnish or cause to be furnished to Agency dupli-
cate originals or appropriate certificates of bodily injury and
property damage insurance policies in the amount of at least
$500,000 for any person, $1,000,000 for any occurrence, and
$300,000 property damage, naming Agency and the City as coin-
sureds. The obligations set forth in this section shall remain
in effect only until the final Certificate of Completion has been
furnished as hereinafter provided.
9. 310) City and Other Governmental Agency Permits
Before commencement of construction or development of any build-
ings, structures, or other work of improvement upon the Site or
any Parcel, Developer shall at its own expense secure or cause to
be secured any and all permits which may be required by the City
or any other governmental agency affected by such construction.
development, or work.
10. 311) Rights of Access
Representatives of Agency and the City shall have the reasonable
right of access to the Site or any Parcel without charges or
fees, at normal construction hours during the period of construc-
tion for purposes of this Agreement, including but not limited to
the inspection of the work being performed in constructing the
improvements. Such representatives of Agency or the City shal 1
be those who are so identified in writing by the Executive
Director of Agency.
11. 312) Local, State, and Federal Laws
Developer shall carry out the construction of the improvements in
conformity with all applicable laws.
12. 313) Antidiscrimination during Construction
Developer for itself and its successors and assigns, agrees that
in the construction of the improvements provided for in this
Agreement. Developer will not discriminate against any employee
or applicant for employment because of race, color, religion,
sex, marital status, or national origin.
B. 314) Responsibility of the Agency
Agency, without expense to Developer or assessment or claim against
the Site, shall perform all work specified in Attachment No. 4, Scope
of Development. Agency will perform these tasks within the tijnes
14
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& specified in the Schedule of Performance/ Attachment No. 3. Agency
will Indemnify and hold harmless Developer from and against any and
all liability or claims arising from Agency's entry into or activities
on the Site.
C. $315) Taxes, Assessments, Encumbrances and Liens
Developer shall pay when due all real estate taxes and assessments
assessed and levied for any period subsequent to a conveyance of
title. Subject to the provisions of 317, Developer shall not place
or allow to be placed on the Site or any Parcel any mortgage, trust
deed, encumbrance, or lien unauthorized by this Agreement, Developer
shall remove or have removed any levy or attachment made on the Site
or any Parcel, or assure the satisfaction thereof within a reasonable
time, but in any event prior to a sale thereunder. Nothing herein
contained shall be deemed to prohibit Developer from contesting the
validity or amounts of any tax assessment, encumbrance, or lien, nor
to limit the remedies available to Developer in respect thereto. The
covenants of Developer set forth in this section shall remain In
effect only until a Certificate of Completion of construction has been
furnished as hereinafter provided with respect to the Site or any
portion thereof, upon which any lien or encumbrance might be placed.
D. 316) Prohibition Against Transfer of the Site, the Buildings or
Structures and Assignment of Agreement
Prior to the record at ion by Agency of a Certificate of Completion of
construction as provided hereinafter. Developer shall not, except as
permitted by this Agreement, sel1» transfer, convey, assign or lease
the whole or any part of the Site or the buildings or structures on
the Site without the prior approval of Agency. This prohibition shall
not apply subsequent to the recordation of the Certificate of Comple"
tion with respect to the improvements upon the Site. This prohibition
shall not be deemed to prevent the granting of easements or permits to
facilitate the development of the Site or to prohibit or restrict the
leasing of any part, or parts, of a building or structure with respect
to which a partial Certificate of Completion has been issued by the
Agency. Nothing in this paragraph prohibits Developer from leasing
space for occupancy. Notwithstanding anything contained to the con-
trary in this Agreement, Agency understands and agrees that Developer
intends to commence selling and leasing individual units upon their
completion without waiting for all of the units to be constructed
pursuant to this Agreement. Therefore, Agency agrees that Developer
may apply for Certificates of Completion as hereinafter provided for
each individual unit.
15
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& E. S317) Security Financing; Right fit Holders
1. S318) No Encumbrances Except Mortgages, Deeds, Deeds of Trust,
Sales and Leases-Back^ or other Financing for Development
Notwithstanding 315 and 316, mortgages, deeds of trust, sales
and leases-back, or any other form of conveyances required for
any reasonable method of financing are permitted before comple-
tion of the construction of the Improvements, but only for the
purpose of securing loans or guarantees to be used for financing
the acquisition of the Site, the construction of improvements on
the Site. and any other expenditures necessary and appropriate to
develop the Site under this Agreement. Developer shal1 give
prior written notice to Agency of any proposed mortgage, deed of
trust, sale and lease-back, or other form of conveyance for
financing for development of the Sice if Developer proposes to
enter into the same before completion of the construction of the
improvements on the Site. Developer shall not enter into any
conveyance for financing without the prior written approval of
Agency, which approval Agency agrees to give if any such convey"
ance is given to a responsible financial or lending institution
or other acceptable person or entity. Such lender shall be
deemed approved unless rejected in writing by Agency within 10
days after notice thereof by Developer. In any event. Developer
shall promptly notify Agency of any mortgage, deed of trust, sale
and lease-back, or other financing conveyance, encumbrance or
lien that has been created or attached thereto prior to comple-
tion of the construction of the improvements on the Site whether
by voluntary act of Developer or otherwise. The words mortgage"
and deed of trust" as used herein include all other appropriate
modes for financing real estate, construction, and land develop-
ment.
2. $319) Holder Not Obligated to Construct Improvements
The holder of any mortgage, deed of trust or other security
r. Interest authorized by this Agreement shall in no way be obli-
gated by the provisions of this Agreement to construct or com-
plete the improvements or to guarantee such construction or
completion; nor shall any covenant or any other provision in the
deed for any Parcel be construed so to obligate such holder.
Nothing in this Agreement shall be construed to permit, or
authorize any such holder to devote the Site to any uses, or to
construct any Improvements thereon, other than those uses or
improvements provided for or authorized by this Agreement.
16
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 3. 5320) Notice of Default ro Mortgage,• Deed of Trust, or Other
Security Interest Holders; Right to Cure
Whenever Agency shall deliver any notice or demand to Developer
with respect to any breach or default by Developer in completion
of construction of the improvements. Agency shall at the same
time deliver to each holder of record of any mortgage, deed of
trust or other security interest authorized by this Agreement a
copy of such notice or demand. Each such holder shall insofar
as the rights of Agency are concerned) have the right at its
option within thirty days after the receipt of the notice, to
cure or remedy or commence to cure or remedy any such default and
to add the cost thereof to the security interest debt and the
lien on Its security interest. Nothing contained in this
Agreement shall be deemed to permit or authorize such holder to
undertake or continue the construction or completion of the
improvements beyond the extent necessary to conserve or protect
the improvements or construction already made) without first
having expressly assumed Developer's obligations to Agency by
written agreement satisfactory to Agency. The holder in that
event must agree to complete, in the manner provided for in this
Agreement, the improvements to which the lien or title of such
holder relates, and submit evidence satisfactory to Agency that
it has the qualifications and financial responsibility necessary
to perform such obligations. Any such holder properly completing
such improvements shall be entitled, upon written request made to
Agency, to a Certificate of Completion from Agency.
S321) Failure of Holder to Complete Improvements
In any case where, six months after default by Developer in
completion of construction of Improvements under this Agreement,
the holder of any mortgage, deed of trust, or other security
Interest creating a lien or encumbrance upon the Site or any
Parcel has not exercised the option to construct, or If it has
exercised the option but has not proceeded diligently with con-
struction, Agency may purchase the mortgage, deed of trust, or
other security interest by payment to the holder of the amount of
the unpaid debt, plus any accrued and unpaid interest. If the
ownership of the Site has vested in the holder. Agency, if it so
desires, shall be entitled to a conveyance from the holder to
Agency upon payment to the holder of an amount equal to the sun
of the following:
a) The unpaid mortgage, deed of trust or other security Inter-
est debt at the time title became vested in the holder less
all appropriate credits, including those resulting from
collection and application of rentals and other Income
received during foreclosure proceedings).
17
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& h) All expenses with respect to foreclosure.
c) The net expenses, if any exclusive of general overhead),
incurred by the holder as a direct result of the subsequent
management of the Site.
d) The costs of any improvements made by such holder.
e) An amount equivalent to the interest that would have accrued
n the aggregate of such amounts had al1 such amounts become
part of the mortgage or deed of trust debt and such 4ebt had
continued in existence to the date of payment by the Agency,
5. $322) Right of Agency to Cure Mortgage, Deed of Trust or other
Security Interest Default
In the event of a default or breach by Developer of a mortgage,
deed of trust, or other security instrument with respect to the
Site or any Parcel prior to the completion of development, and if
the holder has not exercised its option to complete the develop-
ment, Agency may cure the default, prior to completion of any
foreclosure. In such event Agency shal1 be entitled to reim-
bursement from Developer of all costs and expenses incurred by
Agency in curing the default. Agency shall also be entitled to a
lien upon the Parcel to the extent of such costs and disburse-
ments. Any such lien shall be subject to mortgages, deeds of
trust or other security instruments executed for the sole purpose
of obtaining funds to purchase and develop the Site as authorized
herein.
F- 323) Right of the Agency to Satisfy other Liens on the Property
after Title Passes
After the conveyance of title and prior to the recordation of a Certi-
ficate of Completion for construction and development, and after
Developer has had a reasonable tine to challenge, cure, or satisfy any
liens or encumbrances on the Site or Parcel, Agency shall have the
right to satisfy any such liens or encumbrances, provided, however,
that nothing in this Agreement shall require Developer to pay or make
provision for the payment of any tax, assessment, lien or charge so
long as Developer in good faith shall contest the validity or amount
thereof, and so long as such delay in payment shall not subject the
Site or Parcel to forfeiture or sale.
G. 324) Certificate of Completion
1. Promptly after completion of substantially all construction and
development of each ind ividual unit to be completed by the Devel-
oper upon the Site or any portion thereof. Agency shall furnish
Developer with a Certificate of Completion upon written request
therefore by Developer, Agency shall not unreasonably withhold
any such Certificate of Completion. Such Certificate of
18
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& Completion shal1 be and shall state that it is) a conclusive
determination of satisfactory completion of the construction
required by this Agreement upon the Site or Parcel, and of full
compliance with the terms hereof with respect to the Site or to
that Parcel. After issuance of such Certificate of Completion
any party then owning or thereafter purchasing, leasing or other-
wise acquiring any interest therein shall not because of such
ownership, purchase, lease or acquisition), incur any obligation
or liability under this Agreement, except that such party shalI
be bound by any covenants contained in the deed, lease, mortgage,
deed of trust, contract or other instrument of transfer in
accordance with the provisions of S400-404. Neither Agency nor
any other person, after issuance of a Certificate of Completion.
shall have any rights, remedies, or controls that it would other-
wise have or be entitled to exercise under this Agreement as a
result of a default in or breach of any provision of this Agree-
ment, and the respective rights and obligations of the parties
with reference to those natters shall be as set forth in the
deed.
2. Each Certificate of Completion of construction shal1 be in such
form as to permit It to be recorded in the Recorder's Office of
Los Angeles County.
3. If Agency refuses or fails to furnish a Certificate of Completion
for a Parcel after written request from Developer, Agency shall,
within 10 days of the written request, provide Developer with a
written statement of the reasons Agency refused or failed to
furnish such Certificate. The statement shall also contain
Agency's statement of the action Developer must take to obtain
the Certificate of Completion. If the reason for such refusal is
confined to the failure to complete specific items, Agency will
Issue its Certificate of Completion upon the posting of a bond by
Developer with Agency in an amount representing the fair value of
the work not yet completed. If Agency shal 1 have failed to
provide such written statement within said 10-day period, Devel-
oper shal1 be deemed entitled to the Certificate of Completion.
4. Such Certificate of Completion shall not constitute evidence of
compliance with or satisfaction of any obligation of the Devel-
oper to any holder of a mortgage, or any insurer of a mortgage
securing money loaned to finance the improvement or any part
thereof. Such Certificate of Completion is not notice of comple-
tion as referred to in the California Civil Code 3093.
19
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& IV. 400) USE OF THE SITE
A. $401) Uses
Developer covenants and agrees for itself, its successors, its assigns
and every successor in interest that during construction and there-
after, Developer, such successors, and such assigns shal1 devote the
Site to the uses specified in the Redevelopment Plan. the deeds, and
this Disposition and Development Agreement.
B. $402) Obligation to Refrain from Discrimination
There shall be no discrimination against or segregation of any person,
or group of persons, on account of sex, race, color, creed, national
origin, marital status, or ancestry in the sale, lease, sublease,
transfer, use, occupancy, tenure, or enjoyment of the Site, nor shall
Developer itself or any person claiming under or through hijn establish
or permit any such practice or practices of discrimination or segrega-
tion with reference to the selection, location, number, use, or
occupancy of tenants, lessees, subtenants, sublessees, or vendees.
C. $403) Form of Nondiscrimination and Nonsegregation Clauses
Developer shall refrain from restricting the rental, sale, or lease of
the Site on the basis of sex, race. color, creed, national origin,
marital status, or ancestry of any person. All such deeds, leases, or
contracts shal1 contain or be subject to substantially the following
nondiscriminatlon or nonsegregatton clauses:
1. In deeds: The grantee herein covenants by and for himself, his
r\
heirs, executors, administrators and assigns, and all persons
claiming under or through them, that there shall be no discrimin-
ation against or segregation of, any person or group of persons
on account of sex. race. color, creed, national origin, marital
status, or ancestry in the sale, lease, sublease, transfer, use,
occupancy, tenure or enjoyment of the land herein conveyed, nor
shall the grantee himself or any person claiming under or through
him, establish or permit any such practice or practices of non-
discrimination or segregation with reference to the selection,
location, number, use of occupancy of tenants, lessees, sub ten"
ants, sublessees or vendees in the land herein conveyed. The
foregoing covenants shall run with the land."
2. In leases: The lessee herein covenants by and for himself, his
heirs, executors, administrators, and assigns, and al 1 persons
claiming under or through him, and this lease is made and
accepted upon and subject to the following conditions:
20
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& That there shall be no discrimination agnlnst or segregation of
any person or group of persons on account of sex, race, color,
creed, national origin, marital status, or ancestry, in the
leasing, subleasing, transferring, use or enjoyment of th,e land
herein leased nor shall the lessee himself, or any person claim-
ing under or through him, establish or permit any such practice
or practices or discrlml nation or segregation with reference to
the selection, location, number, use or occupancy, of tenants,
lessees, sublessees, subtenants, or vendees in the land herein
leased."
3. In contracts: There shall be no discrimination against or seg-
regation of, any person, or group of persons on account of sex,
race, color, creed, national origin, marital status, or ancestry
in the sale, lease, sublease, transfer, use, occupancy, tenure or
enjoyment of the land, nor shall the transferee himself or any
person claiming under or through him, establish or permit any
such practice or practices of discrimination or segregation with
reference to the selection, location, number, use or occupancy of
tenants, lessees, subtenants, sublessees, or vendees of the
land."
D. 5404) Effect and Duration of Covenants
Except as otherwise provided, the covenants contained in this Agree-
ment and the deeds shall reanain in effect until December 2, 2011. The
covenants against discrimination shall remain In perpetuity.
CS. 405) Rights of Access Public Improvements and Facilities
Agency for Itself, and for the City and other public agencies, at
their sole risk and expense, reserves the right to enter the Site or
any part thereof at all reasonable times and with as little interfer-
ence as possible, for the purposes of construction, reconstruction,
maintenance, repair, or service of any public Improvements or public
facilities located on the Site. Any such entry shall be made only
after reasonable notice to Developer, and Agency shall Indemnify and
hold Developer harmless from any claims or liabilities pertaining to
any entry. Any damage or Injury to the Site resulting from such entry
shall be prowptly repaired at the sole expense of the public agency
responsible for the entry.
V. $500) DEFAULTS, REMEDIES AND TERMINATION
A. $501) Defaults General
1. Subject to the extensions of time set forth In 604, failure or
delay by either party to perform any term or provision of this
Agreement constitutes a default under this Agreement. The party
21
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& who so fails or delays must Imnied lately commence to cure, cor-
rect, or remedy such failure or delay, and shall complete such
cure, correction or reaiedy with reasonable diligence and during
any period of curing shall not be in default. Notwithstanding
anything contained to the contrary elsewhere in this Agreement,
any termination of this Agreement as elsewhere provided in this
Agreement, shall entitle Developer to the return of Developer's
deposit required by $201.4, or amounts to be paid under 202.8,
except in the event of default of Developer.
2. The injured party shall give written notice of default to the
party in default, specifying the default complained of by the
injured party. Except as required to protect against further
damages, the injured party may not institute proceedings under
5502 until 30 days after giving such notice. Failure or delay in
giving such notice shall not constitute a waiver of any default,
nor shall it change the time of default.
3. Except as otherwise expressly provided in this Agreement, any
failure or delay by either party in asserting any of its rights
or remedies as to any default shall not operate as a waiver of
any default or of any such rights or remedies or deprive either
such party of its right to Institute and maintain any actions or
proceedings which it may deem necessary to protect, assert, or
enforce any such rights or remedies.
B^ 502) Arbitration
1. 503) Resolution of Disputes
a) In the event that a dispute arises under this Agreement with
respect to any aspect of the performance of either party or
the interpretation hereof, which the parties are unable to
resolve, the matter shall be referred to arbitration in the
following manner: each party will name one person, who need
not be independent of it; the two persons named will jointly
agree upon a third person, who shall act as arbitrator, and
whose decision with respect to the issue in controversy will
be final and binding upon the parties.
b) Should the two persons named be unable within seven days of
their appointment to agree upon a third party, they will
request the Los Angeles Office of the American Arbitration
Association to narae an arbitrator, and appointment by the
Association will be accepted by the parties.
c) Arbitration proceedings will be carried out in accordance
with the rules of the American Arbitration Association as
then in effect, in the most expeditious manner possible.
d) Ho decision of any arbitrator, however appointed, will be
binding if it falls to reflect the substantive provisions
and limitations on remedies of the parties hereto set forth
in 510, 511, 511A, S511B, 512.3. 513. or 603.
77
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& 2. 550A) Applicable Law
The lavs of the'State of California shall govern the interpreta-
tion and enforcement of this Agreement.
3. 5505) Acceptance of Service of Process
In the event that any legal action is commenced by Developer
against Agency, service of process on Agency shal1 be made by
personal service upon the Chairman of the Agency, or in such
other manner as may be provided by law. In the event that any
legal action is commenced by Agency against Developer, service of
process on the Developer shal1 be made by personal service upon
James Smirl, or Richard A. Lewis, or in such other manner as may
be provided by law, whether made within or without the State of
California
F. 5509) Remedies and Rights of Termination Prior to Conveyance
1. 5510) Termination by Developer
Developer may terminate this Agreement by written notice to
Agency, upon the occurrence or non-occurrence of any of the
following within the period stated. In the event of such tennln-
r. ation, this Agreement will be without further force or effect,
and each party shall be without further liability hereunder,
other than as set forth in S511A.
a) Zoning, permits, approvals and other prerequisites for
development of the site are not obtained by Agency on or
before the date set forth therefor in the Schedule of Per-
formance.
b) Soils and subsurface test borings on the site cause Devel-
oper to determine in its sole judgment that development of
the project is not economically feasible, as provided in
213.2.
c) Agency has not i) obtained bonds or other financing of
acquisition of the Site, or ii) performed other work
required to be performed by it hereunder in the Scope of
Development, y the date established therefor in the Sched-
ule of Performance; provided that Agency shall be entitled
to one 60-day extension of the period set forth to issue
bonds; and provided furtHer that this subparagraph is sub-
ject to the provisions of Article X $1000) hereof.
d) Agency fails to tender conveyance of title to the Site, or
possession thereof, in a manner and a condition and by the
dates provided in this Agreement, and such failure is not
cured within thirty days after written demand by Developer.
e) Agency neglects or refuses to commence and diligently pursue
the eminent domain actions necessary to the purposes of this
Agreement in accordance with the Schedule of Performance.
23
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ& f) Developer fails to agree with an increased land price as the
result of a revision under 210.3 or 208A.
2. 511) Termination by Agency
Agency may terminate this Agreement by written notice to Devel-
oper upon the occurrence or non-occurrence of any of the follow-
ing within the period stated. In the event of such termination,
this Agreement will be without further force or effect, and each
party shall be without further liability hereunder, except as
provided in S511A.
a) Agency, after and despite diligent efforts, is unable to
issue and sell Agency bond issues within the time set forth
in the Schedule of Performance, provided Agency shall con-
tinue to use its best efforts to issue and sell bonds for a
60-day period after the date set forth in the Schedule of
Performance; or Agency is unable to finance the site prepar-
ation/construction and related activities as contemplated in
this Agreement and after and despite diligent efforts,
within the time set forth therefor in the Schedule of Per-
formance. The provisions of this paragraph are subject to
Article X 1000).
b) Agency diligently proceeds with the filing and processing of
appropriate condemnation actions to acquire all or a portion
of the site as set forth in this Agreement, and the final
judgment of a court of competent jurisdiction, denies the
Agency the right and power to take" a material portion of
the Site under California law.
FF, 511A) Termination under Certain Circumstances
In the event Agency elects to terminate this Agreement under the terns
of 202.8, or 511, or Developer elects to terminate this Agreement
under 510, Developer shall be reimbursed for all out-of-pocket
expenses incurred up to the point of cancellation. All work done by
or for Developer, such as engineering, architecture, marketing, feasi-
bility studies, and other studies of a like nature shall become the
sole and exclusive property of Agency. Thereupon, all obligations and
liabilities of the parties under this Agreement shall cease and
terminate.
FFF. 511B) Breach by Developer prior to Closing
In the event chat Developer, prior to Closing on all or part of the
Site, breaches this Agreement by materially failing to perform any
obligation hereunder or by failure or refusal to Close without cause,
Agency shall have the right to terminate this Agreement, and retain
from Developer's deposit the amount of its actual out-of-pocket
expenses in performance of this Agreement from the date of execution
24
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ & to the dnte of snid breach. Agency will rcpny to Developer the bal-
ance of said Deposit, and Developer and Agency will be without further
liability hereunder.
G. S512) Remedies of the Parties for Default after Passage of Title and
Prior to Completion of Construction
1. Damages
After conveyance of title to the Site or any Parcel and prior to
the recordation of a Certificate of Completion for the develop-
ment, if either Developer or Agency defaults with regard to any
of the provisions of this Agreement, the nondefaulting party
shall serve written notice of such default upon the defaulting
party. If the default is not cured or commenced to be cured by
the defaulting party within 30 days after service of the notice
of default, the defaulting party shall be liable to the other
party for any damages caused by such default.
2. Specific Performance
If either Developer or Agency defaults under any of the provi-
sions of this Agreement after the conveyance of title to the Site
or any Parcel and prior to the completion of construction, the
nondefaulting party shall serve written notice of such default
upon the defaulting party. If the default is not commenced to he
cured by the defaulting party within 30 days of service of the
notice of default, the nondefaulting party at its option nay
institute an action for specific performance on the terms of this
Agreement.
3. Limitation
Notwithstanding any other provision hereof, Developer shall at no
time after Closing be in default of any obligation of development
or construction, or relating to the timely performance of either,
contained in this Agreement, if it has made the alternative pay-
ment set forth in 209.2 b) on the most recent date therefor.
This provision shall further apply to each of the five years
following the last date set forth in 209.2(a); alternative pay-
ment for each such year shall be calculated on the same basis as
payments for the year the assessment of which occurs on March 1,
1983. In the event Developer does not make an alternative pay-
ment due after Closing. Agency^ sole remedy is the right of
reverter set forth in 513.
25
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ & H. S513) Right of Reverter
1. Agency shal1 have the right, at its option, subject to 512.3
hereof, to reenter and take possession of the Site or any Parcel
\
with all improvements thereon, and revest in the Agency any
estate theretofore conveyed to the Developer, if prior to record-
ation of the Certificate of Completion, Developer or its succes-
sors in interest) shall:
a) Fail to proceed with the construction of the improvements as
required by this Agreement for a period of three months
after written notice thereof from Agency, or
b) Abandon or substantially suspend construction of the
improvements for a period of three months after written
notice of such abandonment or suspension from Agency, or
c) Transfer, or suffer any involuntary transfer of the Site, or
any part thereof, in violation of this Agreement.
2. Such right, to the extent provided in this Agreement, shall be
subordinate and subject to and be limited by and shall not
defeat, render invalid, or limit:
a) Any mortgage, deed of trust, or other security instrument
permitted by this Agreement.
b) Any rights or interests provided in this Agreement for the
protection of the holder of such mortgages, deeds of trust,
or other security instruments.
3. The rights established in this section shall not apply to indi-
vidual parts of Parcels of the Site on which the improvements to
be constructed thereon have been completed in accordance with
this Agreement, and for which a Certificate of Completion has
been recorded therefor as provided in 324.
4. Upon the revesting in Agency of title to the Site or any part
thereof as provided in this 513, Agency shall, pursuant to its
responsibilities under State law, use its best efforts to resell
the Site or part thereof as soon and in such manner as the Agency
shall find feasible and consistent with the objectives of such
law and of the Redevelopment Plan, as expedltiously as is possi-
ble, to a qualified and responsible party or parties as deter-
mined by Agency), who will assume the obligation of making or
completing the improvements, or such other improvements in their
stead, as shall be satisfactory to Agency and in accordance with
the uses specified for such Site or part thereof, in the Redevel-
opment Plan. Upon such resale of the Site. the proceeds thereof
shall be applied, to the extent that funds are available there-
for:
a) First, to reimburse Agency on its own behalf or on behalf of
the City, for all costs and expenses incurred by Agency,
including but not limited to salaries to personnel, in
26
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ & connection with the recapture, management and resale of the
Site or part thereof but less any income derived by Agency
r>
from the Site or part thereof in connection with such
management); all taxes, assessments, and water and sewer
charges with respect to the Site or part thereof or, in the
event the Site is exempt from taxation or assessment or such
charges during the period of ownership to such taxes,
assessments, or charges as determined by the County
assessing official as would have been payable if the Site
were not so exempt); any payments made or necessary to be
made to discharge or prevent from attaching or being made
any subsequent encumbrances or liens due to obligations,
defaults, or acts of Developer, its successors or transfer-
ees; any expenditures made or obligations incurred with
respect to the making or completion of the improvements or
part thereof; and any amounts otherwise owing Agency by
Developer and its successors or transferee, and
b) The balance to Developer.
I. 5514) Plans
If Developer defaults under any provision of this Agreement, either
prior to or after conveyance of title, and such default is not cured
as provided herein. Final Construction Drawings, Final Landscaping
Plans, and Finish Grading and Parking Plans, or such other plans and
drawings as have been prepared for the development' to date of the
default, shall become and be the property of Agency. Developer shall
deliver to Agency any and all such Plans, and shall assign all rights
it holds in such Flans to Agency. In such event, Agency or any other
Developer may use such Plans to complete the development or for any
other development initiated by Agency, provided that Developer will be
indemnified and held harmless from and against any and all liability
arising out of Agency or any other party^ use of such plans.
VI. 600) GENERAL PROVISIONS
A. 601) Notices
Notices pursuant to this Agreement shall be given by personal service
or by United States Postal Service, postage pre-paid, addressed as
fol lows:
a) AGENCY: Baldwin Park Redevelopment Agency
14A03 East Pacific Avenue
Baldwin Park. CA 91706
27
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ & 0 b) DEVELOPER:
Lewis Development Co.
1156 North Mountain Avenue
P. 0. Box 670
Upland, CA 91786
Attention: Richard A. Lewis
and
9211 Archibald Avenue
Cucamonga, CA 91730
Attention: James Smirl
or such other place or places as the parties may from time to time
designate in writing. Notices given in accordance herewith shall be
binding for all purposes on parties so served. Service shall be
deemed given as of the date of personal service, or, two consecutive
calendar days after the date of deposit of the same into the course of
transmission of the United States Postal Service.
B. 5602) Conflict of Interest
No member, official or employee of the Agency shall have any personal
interest, direct or indirect, in this Agreement, nor shall any such
member, official, or employee participate in any decision relating to
the Agreement which affects his personal interests or the interests of
any corporation, partnership, or association in which he is directly
or indirectly interested. Developer warrants that it has not paid or
given, and will not pay or give, any third person any money or other
consideration for obtaining this Agreement.
C. 603) Nonliability of Agency Officials and Employees
No member, official or employee of Agency shall be personally liable
to Developer, or any successor in interest, in the event of any
default or breach by Agency or for any amount which may become due to
Developer or successor or on any obligations under the terms of this
Agreement except where such Agency official or employee has committed
an unconstitutional act.
D. $604) Enforced Delay: Extension of Times of Performance
In addition to specific provisions of this Agreement, performance by
either party hereunder shall not be deemed to be in default where
delays or defaults are due to war; insurrection; strikes; lock-outs;
riots; floods; earthquakes; fires; casualties; acts of God; acts of
the public enemy; epidemics; quarantine restrictions; freight embar-
goes; lack of transportation; governmental restrictions or priority;
litigation; unusually severe weather; inability to secure necessary
labor, materials or tools; delays of any contractor, subcontractor or
supplier; acts of the other party; acts or failure to act of any
public or governmental agency or entity other than that acts or
28
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ & failure to act by Agency or the City of Baldwin Park shall not excuse
performance by Agency) or any other causes beyond the control or
without the fault of the party claiming an extension of time to per-
form. An extension of time for any such cause shall only be for the
period of the enforced delay, which period shall commence to run from
the time of the commencement of the cause. If, however, notice by the
party claiming such extension Is sent to the other party more than 30
days after the commencement of the cause, the period shall commence to
run only 30 days prior to the giving of such notice. Times of per-
formance under this Agreement may also be extended in writing by
Agency and Developer.
Developer shall not be bound by provisions of S209 to pay the amount
required to be paid thereunder if satisfactory evidence is provided to
Agency detailing that Developer was prevented from performing due to
conditions or circumstances beyond its control.
E. 5605) Inspection of Books and records
Agency has the right, upon not less than 72 hours notice, at all
reasonable times, to inspect the books and records of Developer
directly related to the Site and the performance of this Agreement.
Developer shall have the right, upon not less than 72 hours notice, at
all reasonable times, to inspect the books and records of Agency
directly related to the Site and the performance of this Agreement.
F. 606) Approval by the Agency
Wherever this Agreement requires either party to approve any contract,
document, plan, specification, drawing or other matter, such approval
shall not be unreasonably withheld.
VII. $700) SPECIAL PROVISIONS
A. S702) Submission of Documents to the Agency for Approval
Whenever this Agreement requires Developer to submit plans, drawings,
or other documents to Agency for approval, which shall be deemed
approved if not acted on by the Agency within a specified period of
time, said plans, drawings or other documents shall be accompanied by
a letter stating that they are being submitted and will be deemed
approved unless rejected by Agency within the stated time. If there
is no time specified herein for such Agency action. Developer may sub-
mit a letter requiring Agency approval or rejection of documents
within 30 days after submission to the Agency or such documents shall
be deemed approved.
29
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ!& B. 703) Preferences for Businesses Located in the Project Area
Developer agrees to provide reasonable preferences for businesses
presently located In the Project Area to become lessees in the light
industrial park ahead of others from outside the Project Area to the
extent such tenants are appropriate for the industrial park, and at
rental rates and terms to be offered to similar tenants of the indus-
trial park. Developer further agrees that other businesses presently
located within the City of Baldwin Park shall receive reasonable
preferences subordinate to the reasonable preferences of businesses
presently located in the Project Area.
C. 70^) Amendments to this Agreement
Developer and Agency agree to mutually consider reasonable requests
for amendments to this Agreement provided said requests are consistent
with this Agreement and would not substantially alter the basic
business terms Included herein.
VIII. 800) ENTIRE AGREEMENT, WAIVERS AND AMENDMENTS
This Agreement is executed in 5 duplicate originals, each of which is
deemed to be an original. This Agreement includes 31 pages and 5
attachments which constitute the entire understanding and agreement of
the parties.
This Agreement integrates all of the terms and conditions mentioned
herein or Incidental hereto, and supersedes all negotiations or previ-
ous agreements between the parties with respect to all or any part of
the subject matter hereof.
All waivers of the provisions of this Agreement must be in writing and
signed by the appropriate authorities of Agency or Developer, and all
amendments hereto must be in writing and signed by the appropriate
authorities of Agency and Developer.
IX. 900) TIME FOR ACCEPTANCE OF AGREEMENT BY AGENCY
This Agreement, when executed by Developer and delivered to Agency, must be
authorized, executed, and delivered by Agency within 35 days after date of
signature by Developer or this Agreement shall be void, except to the
extent that Developer shall consent in writing to further extensions of
time for the authorization, execution, and delivery of this Agreement. The
date of this Agreement shall be the date when the Agreement shall have been
signed by Agency.
30
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ"& X. S1000) FURTHER FINANCING
Developer and Agency shall cooperate to exert their best efforts to imple-
ment the industrial park revenue bond financing as the same is defined in
the Federal IDB Regulations, to the end that a decision can be mutually
made by Developer and Agency within 6 months from the date this Agreement
Is executed as to whether or not to proceed with the implementation of such
financing. If the mutual decision is to proceed, it is presently contem-
plated that this Agreement will be suitably revised so that the form of the
sale will be that of installment payments over a period equal to the term
of the industrial park revenue bonds or some other suitable method of
payment compatible to the financing period. The parties agree to negotiate
with each other in the spirit of good faith and fair dealing to the accom-
plishment of this end, which, it is expected, will be to the financial
benefit of both parties. In such financing, both parties agree to comply
with all applicable State and Federal laws and regulations adopted there-
under pertaining to the issuance of the revenue bonds and the conveyance of
the project site.
EXECUTED at the City of Baldwin Park, California, this day of
1979.
ATTEST:
Secretary Philip K. Sexton
SEAL)
APPROVED AS TO FORM:
THE COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF BALDWIN PARK AGENCY")
By_______________________________
Agency Attorney
Chairman
LEWIS/VANGUARD DEVELOPERS DEVELOPER")
By_______________________________
By____________________________
31
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ#& ATTACHMENT No. 1
The East half of the West half of the Southeast one-quarter of Section 12,
Townahip 1 South, Range 11 West, San Bernardino Base and Meridian;
Also. the West half of the Northwest one quarter of Section 7, Township 1 South,
Range 10 West, San Bernardino Base and Meridian;
Also, that portion of the East one-half of the Southeast one-quarter of Section
12, Township 1 South, Range 11 Vest, San Bernardino Base and Meridian bounded
and described as follows:
Beginning at the Northwest corner of the East one-half of said Southeast
one-quarter; thence easterly along the northerly Una of said Southeast one
quarter, to its point of intersection with the southeasterly line of that
certain easenent, 120 feet wide, of the Department of Water and Power of
the City of Los Angeles, recorded in Book 15306, Pa^e 106, Book 15308, Page
187. and Book 14824. Page 252 of Official Records in the office of the
County Recorder of Los Angeles County; thence southwesterly along said
southeasterly line to its point of intersection with the northerly line of
Lot 9 of Tract No. 1605, as per reap recorded in Book 20, Page 32 of Maps in
the office of said County Recorder; thence easterly along said last-
laentioned northerly line to its point of intersection with the westerly
line of that certain property shown as Parcel 25 on Page 12 in Book 6535 of
the 1975-76 Los Angeles County Tax Assessor's Maps; thence southerly along
said westerly line to the northerly line of that certain property shown as
Parcel 29 in said Book and Page of said Assessor's maps; thence westerly
along said last-mentioned northerly line to its point of Intersection with
the easterly line of that certain property shown as Parcel 23 in said Book
and Page of said Assessor's Maps; thence southerly along said easterly line
to its point of intersection with the northerly line of that certain
property shown as Parcel 28 in said Book and Page of said Assessor's Maps;
thence easterly along said last-mentioned northerly line to its point of
intersection with the easterly line to the northerly line of Tract Mo.
21614, as per map recorded in Book 594, Pages 24 and 25 of Maps in the
office of said County Recorder; thence westerly along said last-mentioned
northerly line to its point of intersection with the southeasterly line of
that certain easement, 120 feet wide, of the Department of Water and Power
of the City of Los Angeles as recorded in Book 15306, Page 106, Book 15308.
Page 187, and Book 14824, page 252 in the office of said County Recorder;
thence southwesterly along said last-mentioned southeasterly line to its
point of intersection with the northerly line of Tract Mo. 16918, as per
map recorded in Book 396, Pages 10 and 11 of Naps In the office of said
County Recorder; thence easterly along said last-mentioned northerly line
to its point of Intersection with the southeasterly line of San Gabriel
River Parkway as shown on said Tract No. 16918; thence southwesterly along
said last-mentioned southeasterly line to its point of intersection with
the northerly line of Tract No. 16918, as per raiap recorded la Book 396,
Pages 10 and 11 of Maps in the office of said County Recorder; thence
easterly along said last-reentioned northerly line to its point of inter-
section with the southeasterly line of San Gabriel River Parkway as shown
on said Tract No. 16918; thence southwesterly along said last-mentioned
southeasterly line to its point of Intersection with the westerly line of
the East one-half of said Southeast one-quarter; thence northerly along
said last-mentioned line to the point of beginning;
Also, that portion of Section 7, Township 1 South, Range 10 West. San Bernardino
Base and Meridian, bounded and described as follows:
Beginning at the intersection of the centerline of Merced Avenue, 80 feet
wide, with the southeasterly line of that certain easement, 120 feet wide,
of the Department of Water and Power of the City of Los Angeles as recorded
in Book 13999, Page 217 of Official Records in the office of the County
Recorder of Los Angeles County; thence northeasterly along said south-
easterly line to the northerly line of Tract Ho. 20794, as per map recorded
in Book 554, Pages 50 and 21 of Maps in the office of said County Recorder;
thence easterly along said northerly line to its point of intersection with
the eenterline of Stcwart Avenue. 60 feet wide; thence northerly along said
eenterline of Stewart Avenue to its point of intersection with the westerly
prolongation of the southerly line of Lot 4 of Tract No. 10735, as per map
recorded In Book 254. Pages 38 and 39 of Maps In the office of said County
Recorder; thence easterly along said southerly line to its point of inter-
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ$& section with the most westerly line of Tract No. 18704, as per map recorded
In Book 459, Pages 30, 31. and 32 of Maps In the office of said County
Recorder; thence northerly along said most westerly line to its point of
intersection with the northerly line of said Tract No. 18704; thence
easterly along eaid last-mentioned northerly line and its easterly pro-
longation to its point of intersection with the center line of Baldwin Park
Boulevard, 100 feet wide, thence northerly along said centerline of Baldwin
Park Boulevard to its point of intersection with the northerly boundary of
the City of Baldwin Park; thence westerly, northerly and westerly along
said city boundary to its point of intersection with the northerly pro-
longation of said centerline of Merced Avenue; thence southerly along said
northerly prolongation to the point of beginning.
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ%& SITE DESCRIPTION
RIVERGRADE COMMERCENTER
That portion of the City of Baldwin Park, County of
Los Angeles, State of California described as follows:
Beginning at a point on the southerly line of
Rivergrade Road,80 feet wide,and the westerly boundary of the
City of Baldwin Park, also being thn e.-istcrly boundary of the
City of Irwindale; thence south 0°10 * 30" east to the southerly
line of the Los Angeles Water & Power easement per O.R. 14395-221
and O.R. 14742-248; thence northeasterly along last mentioned
southerly line to a point 450- easterly of the northerly
projection of the centerline of Me reed Avenue, 80 feet wide, per
Tract 26009; thence north 0°10'30" west to the southerly line
of Live Oak Avenue; thence westerly along the southerly line of
Live Oak Avenue to the southerly line of said Rivergrade Road
thence southwesterly along last mentioned southerly line to the
point of beginning.
Except already dedicated perimeter streets, casements
and riyhts-of-way.
ATTACHMENT NO. 2
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
1979 024 CC RESO (Ìì ð Æ&& DIPSS ou injoii| i r
7 ON' n-n^ovu.v
nid ins
y 3 i N n i\1 u J j u v a 9 y j A i y
*
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04
& 2. a) The following schedule of completion represents the total
value" defined for purposes of this section as the fair
market value or full cash value, as established by the
Assessor of taxes for Los Angeles County) of land, build-
ings, improvements, tenant improvements, and personal
property located on the Site, which is intended to be
achieved by the dates specified:
March 1. 1981 $6.666.666.67
March 1. 1982 $13.333.333.33
March I, 1983 $20.000.000.00
b) Developer has the option to either complete sufficient
construction to cause the value to reach the levels speci-
fied in a) above by the dates set forth therein, or pay to
Agency an alternative payment of the difference between the
tax revenues actually assessed at that date and the tax
revenues which would have been assessed had the value
totaled the amount required to be completed by that date.
c) Such alternative payment will be paid at the date the taxes
actually result ing from assessment on the respective dates
would have become delinquent; that is. one-half on the
December 10 following each March 1 and one-half April 10 of
the year following that March 1.
d) As an inducement to Developer to build as expeditiously as
possible. Agency will pay to Developer an amount equal to
one-half of any amount of tax actually assessed in excess of
the amount which would have been assessed had the value been
exactly the amount set forth in a) hereof to have been
completed by the respective date set forth in a). Such
payment wil 1 be made within 30 days after ascertainment of
the amount.
e) Any amount due under this 209.2 in any year except amounts
due with respect to the first assessment date to which these
provisions apply) shal1 be offset by the excess of taxes
actually assessed in the prior year because the value at
that date exceeded the amount intended to be achieved under
a) hereof by such date, except amounts paid or to be repaid
under d) hereof.
f) Any delay in Closing, or any excused delay in meeting
Schedule of Performance times of the Closing, in excess of
thirty days shall defer the dates set forth in a) above for
one year; and additional years of delay will be added on the
same basis, that is, thirteen months of delay will defer
daces by two years; twenty-five months by three years, and
so forth.
BIB]
37680-U01
1979-U02
024-U02
CC-U02
RESO-U02
LI3-U03
FO10488-U03
FO10489-U03
DO10776-U03
C6-U03
RESO-U03
2/27/2003-U04
ROBIN-U04