HomeMy WebLinkAboutParadise Creek II Housing Partners, L.P. - Site Infrastructure Agreement - Amendment No. 1 - 2017FIRST AMENDMENT TO
SITE INFRASTRUCTURE AGREEMENT
(Paradise Creek -Phase H Park Including Environmental)
THIS FIRST AMENDMENT TO SITE INFRASTRUCTURE AGREEMENT (this
"Amendment"), is entered into by and between the CITY OF NATIONAL CITY ("City"), and
PARADISE CREEK II HOUSING PARTNERS, L.P., a California limited partnership
("Developer"), and is made effective as of March 2 iSl; 2017.
RECITALS:
A. City and Developer are parties to that certain Site Infrastructure Agreement dated
as of December 20, 2016 (the "Agreement"); and
B. Concurrently herewith Paradise Creek Housing Partners, L.P., a California limited
partnership ("Phase I Developer") is assuming the obligation to pay the City $500,000.00, which
would otherwise be payable by the Developer to the City under the Agreement. However, the City
is not releasing the Developer from any obligations under the Agreement; and
C. City and Developer desire to amend and modify the Agreement as set forth below.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows:
1. Recitals, Capitalized Terms. The foregoing Recitals and introductory
paragraphs are incorporated herein as if fully here set forth. All capitalized terms used herein but
otherwise undefined shall have the meanings ascribed to such terms in the Agreement.
2. Omnibus Amendment. The amount of $4.8 million referenced in Recital
F, Section 2(b) and Section 3 of the Agreement shall be decreased to $4.3 million at such time as
the Phase I Developer pays the City the $500,000.00, which would otherwise be payable by the
Developer to the City under the Agreement.
3. Ratification. Except as specifically set forth in this Amendment, all terms
and provisions of the Agreement shall be and remain unmodified, including, without limitation,
all dates set forth in the Agreement, and shall remain in full force and effect. The Agreement as
amended by this Amendment is hereby ratified and confirmed.
4. Counterparts and Facsimile. This Amendment may be executed in
multiple counterparts, each of which, when taken together shall constitute fully executed originals.
Signature and transmission by facsimile transmission shall be deemed as effective as original
signatures on the original documents.
(Amendment continues on the following page)
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment effective as
of the day and year first above written.
CITY:
CITY OF NAL CITY
By:
Ron Morrison, Mayor
Approved as to Form:
By: ��i /' -*
George Eiser, Acting City Attorney
DEVELOPER:
PARADISE CREEK II HOUSING PARTNERS, L.P.,
a California limited partnership
By: Related/Paradise Creek II Development Co., LLC,
a California limited liability company,
Its Administrative General Partner
By:
Frank Cardone, President
By: CHW Paradise Creek II Development Co., LLC,
a California limited liability company,
Its Managing General Partner
By: Community Housing Works, a California
nonprofit public benefit corporation
It Managing mb
B
Arne B. Wilson, Senior Vice r
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First Amendment — Paradise Creek 11