RDA Agmt 2002 Batarse Family Trust UTA

Home

® 4 SECOND AMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO AND BATARSE FAMILY TRUST, U.T.A THIS SECOND AMENDMENT (the "Amendment ") to the Disposition and Development Agreement ( "Agreement ") by and between the Redevelopment Agency of the City of San Leandro ( "Agency) the Batarse Family Trust, U.T.A. dated May 7, 1987, Anthony A. Batarse, Jr., Trustee, a revocable living trust (the "Developer") (collectively, the "Parties ") is made on or as of this 1st day of April, 2002, by and between the Agency and the Developer. RECITALS: 1. The Agreement contemplates that the Agency will purchase a parcel of property known as the "Yokota Property" and (a) convey a portion of that property (the "Batarse Parcel ") to the Developer, (b) convey a portion of that property (the "Lavery Parcel ") to an adjacent developer. 2. The Developer and the adjacent developer now desire to execute a Lot Line Adjustment pursuant to Section 7 -1 -560 of the City of San Leandro Municipal Code which Adjustment shall result in the transfer of an approximately 5,000 square foot portion of the Lavery Parcel to the Developer. 3. As a result of such Lot Line Adjustment, the Developer shall pay the Agency an amount in addition to the Purchase Price paid by Developer pursuant to the Agreement. 4. The Parties have also determined that, in order to effectuate the Lot Line Adjustment, it is necessary to amend certain time limits contained in the Agreement. It is hereby mutually agreed by the Parties as follows: Section 1. Section 1.03, entitled "Development of the Yokota Property," of Part Two, entitled "The Development; of the Agreement is hereby amended by deleting Section 1.03 in its entirety and replacing it to read as follows: Section 1.03 Development of the Yokota Property • The Agency shall acquire the portion of the property at 467, 505 and 517 Marina Boulevard (hereinafter the "Yokota Property") from its current owners for $9,500,000. The Agency shall convey the portion of the Yokota Property set forth in Exhibit A ( "Yokota Site A ") to Developer pursuant to the terms of this Agreement. The Agency shall convey the portion of the Yokota Property set forth in Exhibit B ( "Yokota Site B ") to Lavery California Dealership Properties No.1 L.L.C. pursuant to the terms of this Agreement. 1