HomeMy WebLinkAbout2010 CON Richard Illes - Amendment #1 522 West 8th St / 2020 Hoover AveFIRST AMENDMENT TO
AGREEMENT FOR EXCHANGE OF REAL PROPERTY
AND JOINT ESCROW INSTRUCTIONS
TO: Stewart Title Company Escrow No.: 288553
7675 Mission Valley Road Escrow Officer: Rhonda Bernardini
San Diego, CA 92108-4429 Title Order No.:
(619) 692-1600 Title Officer: Frank Green
("Escrow Holder")
THIS FIRST AMENDMENT TO AGREEMENT FOR EXCHANGE OF REAL
PROPERTY AND JOINT ESCROW INSTRUCTIONS ("Agreement") is made and entered into
as of this 9th day of November, 2010, by and between the CITY OF NATIONAL CITY, a
municipal corporation, ("City"), and ILLES FAMILY TRUST ("Illes"). The City and Illes are
sometimes hereinafter referred to collectively as the "Parties".
RECITALS
A. On or about September 23, 2010, the Parties entered into an Agreement whereby
they agreed to the exchange of the City Property at 522 West 8th Street, National City, for the
Illes Property at 2020 Hoover Avenue, National City.
B. Section 6.1.2 of the Agreement provides that the Grantee Party shall have forty-
five (45) days after the Effective Date (the "Contingency Period") to review and approve or
disapprove, inter alia, soils and environmental reports pertaining to the Grantor Party's Real
Property.
C. It is necessary, in order to provide adequate time for certain soils tests to be
performed on the City Property, and for the Parties to review and evaluate any reports based upon
those soils tests, to extend the Contingency Period by an additional forty-five (45) days, for a
total of ninety (90) days.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained and for other good and valuable consideration, the Parties agree that Section 6.1.2 of
the Agreement for Exchange of Real Property and Joint Escrow Instructions dated September 23,
2010, is amended to read as follows:
6.1.2. Review and Approval of Documents and Materials.
The Grantor Party shall deliver to the Grantee Party within ten (10) days after the
Effective Date the documents and materials set forth below which pertain to the
Grantor Party's Real Property that are in the Grantor Party's possession or control
or are reasonably available to the Grantor Party, and to the extent that the Grantor
Party has actual knowledge thereof at no expense to the Grantor Party
("Documents and Materials"). From the Effective Date until 5 p.m. on that date
which is ninety (90) days after the Effective Date ("Contingency Period"), the
Grantee Party shall have the right to review and approve or disapprove, in its sole
discretion, any or all of the Documents and Materials; provided, however, the
Contingency Period and Closing Date shall be extended by one (1) day for every
day that the Grantor Party is late in delivering any of the Documents and Materials
or any of the Title Documents beyond the date that the Grantor Party is required
hereunder to deliver the same to the Grantee Party.
With the foregoing exception, each and every provision of the Agreement for Exchange
of Real Property and Joint Escrow Instructions dated September 23, 2010, shall remain in full
force and effect.
IN WITNESS WHEREOF, the Parties hereto have executed this Amendment to
Agreement as of the day and year first written above.
ILLES FA TRU . T
Al
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' Trustee
Beverly A +' es, Co -Trustee
Acceptance by Escrow Holder:
CITY OF NATIONAL CITY
By
Ron Morrison, Mayor
Steward Title Company hereby acknowledges that it has received a fully executed original or
original executed counterparts of the foregoing Agreement for Exchange of Real Property and
Joint Escrow Instructions, and agrees to act as Escrow Holder thereunder and to be bound by and
strictly perform the terms thereof as such terms apply to Escrow Holder.
Dated:
, 2010. Stewart Title Company
a California corporation
By:
Its Authorized Agent
Name:
Title:
Between the City of National City 2 Amendment to Agreement for Exchange of
and Richard llles Real Property and Joint Escrow Instructions
RESOLUTION NO. 2010 — 244
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF NATIONAL CITY
AUTHORIZING THE MAYOR TO EXECUTE
A FIRST AMENDMENT TO AGREEMENT
FOR EXCHANGE OF REAL PROPERTY AND
JOINT ESCROW INSTRUCTIONS
(522 WEST 8TH STREET AND 2020 HOOVER AVENUE)
WHEREAS, on September 23, 2010, the City and the Illes Family Trust ("Illes")
entered into an Agreement for Exchange of Real Property and Joint Escrow Instructions (the
"Agreement") whereby the parties agreed to an exchange of the City -owned property at 522
West 8th Street for the Illes-owned property at 2020 Hoover Avenue; and
WHEREAS, Section 6.1.2 provides that a party to the Agreement shall have
forty-five (45) days after the Agreement is executed (the "Contingency Period") to review and
approve or disapprove, among other items, soils and environmental reports pertaining to the
other party's property; and
WHEREAS, it is necessary, in order to provide adequate time for certain soils
tests to be performed on the City Property, and for the Parties to review and evaluate any
reports based upon these soils tests, to extend the Contingency Period by an additional forty-
five (45) days, for a total of ninety (90) days.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
National City hereby authorizes the Mayor to execute a First Amendment to Agreement for
Exchange of Real Property and Joint Escrow Instructions to amend Section 6.1.2 of the
Agreement to extend the Contingency Period for forty-five (45) days, for a total of ninety (90)
days.
PASSED and ADOPTED this 9th day of November, 2010.
Rdfi Morrison, Mayor
ATTEST:
A" ' ROVED AS TO FORM:
11 km
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City Attorn
Passed and adopted by the Council of the City of National City, California, on
November 9, 2010 by the following vote, to -wit:
Ayes: Councilmembers Morrison, Sotelo-Solis, Van Deventer, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Mayor of the City of National City, California
4
City CI4rk of the City of National City, California
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2010-244 of the City of National City, California, passed and
adopted by the Council of said City on November 9, 2010.
City Clerk of the City of National City, California
By:
Deputy
CITY OF NATIONAL CITY, CALIFORNIA
COUNCIL AGENDA STATEMENT
G'd0\0 3'a
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MEETING DATE: November 9, 2010 AGENDA ITEM NO. 7
ITEM TITLE:
Resolution of the City Council of the City of National City Authorizing the Mayor to Execute a First
Amendment to Agreement for Exchange of Real Property and Joint Escrow Instructions (522 West 8th
Street and 2020 Hoover Avenue)
PREPARED BY: George H. Eiser, III f�
PHONE: Ext. 4221
EXPLANATION:
DEPARTMENT: City Attorney
APPROVED BY:
On September 23, 2010, the City and the Illes Family Trust ("Illes") entered into an Agreement for
Exchange of Real Property and Joint Escrow Instructions (the "Agreement") whereby the parties agreed
to an exchange of the City -owned property at 522 West 8th Street for the Illes-owned property at 2020
Hoover Avenue. Section 6.1.2 of that Agreement provides that either party to the Agreement shall
have forty-five (45) days after the Agreement is executed (the "Contingency Period") to review and
approve or disapprove, among other items, soils and environmental reports pertaining to the other
party's property.
To provide adequate time for certain soils tests to be performed on the City Property, and for the
larties to review and evaluate any reports based upon these soils tests, it is necessary to extend the
:ontingency Period by an additional forty-five (45) days, for a total of ninety (90) days.
FINANCIAL STATEMENT:
ACCOUNT NO.
N/A
ENVIRONMENTAL REVIEW:
N/A
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
APPROVED:
APPROVED:
Finance
MIS
STAFF RECOMMENDATION:
Adopt proposed resolution.
BOARD / COMMISSION RECOMMENDATION:
N/A
1TTACHMENTS:
Proposed resolution
Amendment to Agreement for Exchange of Real Property and Joint Escrow Instructions
ts0 No "a000-`a^--01