8H Consent 2012 0507 - Laserfiche WebLink

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Recording requested by and when recorded mail to: City of San Leandro 835 East 14 Street San Leandro, CA 94577 Attention: Executive Director EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE "6103, 27383 Space above this line for Recorder's use. TERMINATION OF DISPOSITION AND DEVELOPMENT AGREEMENT This Termination of Disposition and Development Agreement (this "Agreement "), dated as of , 2012 (the "Effective Date "), is executed by and among the City of San Leandro, a municipal corporation (the "City "), acting in its capacity as Successor Agency to the Redevelopment Agency of the City of San Leandro (the "Agency "), Anthony A. Batarse Jr., as trustee of the Batarse Family Trust, U.T.A. dated May 7, 1987, a revocable living trust (`Batarse "), and McLellan Marina, LLC, a California limited liability company ( "McLellan "). The City, Batarse and McLellan are hereinafter collectively referred to as the "Parties." RECITALS WHEREAS, the Agency and Batarse entered into that certain unrecorded Disposition and Development Agreement dated as of October 1, 2001 (the "Original DDA "), as subsequently amended by that certain Amendment to the Disposition and Development Agreement between the Redevelopment Agency of the City of San Leandro and Batarse Family Trust, U.T.A. dated November 14, 2001, that certain 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. dated April 1, 2002, and that certain Third Amendment to Disposition and Development Agreement dated as of February 16, 2011 (the "Third Amendment ") concerning the real property located at 575 Marina Boulevard in the City of San Leandro, County of Alameda, and more particularly described in Exhibit A attached hereto and incorporated herein by reference (the "Property "). The Original DDA as amended by all of amendments described in this Recital is hereafter referred to as the "DDA "); WHEREAS, Section 4.06 (d) of the Original DDA provides that Agency approval is required for the sale, lease or other transfer of the Property at any time prior to June 13, 2018; WHEREAS, Section 1.03 of Part Two of the Original DDA, as amended by the Third Amendment, provides that if and when the Property is occupied by an automobile dealership, the Agency will be required to annually make certain payments of tax increment funds in amounts equivalent to 50% of net sales tax generated by operations on the Property through February 16, 2021 or until a specified cumulative total payment has been made; WHEREAS, Batarse desires to sell the Property to McLellan, and McLellan desires to acquire the Property from Batarse; and -1-