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Reso 2022-133 Town Hall Square PSA 5th Amnd - SA
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Reso 2022-133 Town Hall Square PSA 5th Amnd - SA
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12/21/2023 11:30:44 AM
Creation date
7/26/2022 3:19:07 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
7/18/2022
Recorded Document Type
Resolution
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PERM
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WHEREAS, such Amendments did not change the economic terms of the Purchase <br />Agreement, but provided only for the extension of the Due Diligence Period and timing of the <br />close of escrow for the sale of the Properties, and such Amendments were approved pursuant to <br />Section 10.16 of the Original Agreement, which permits the Seller's Executive Director to <br />approve, waive or extend terms of the Purchase Agreement on behalf of the Successor Agency <br />without further authorization if such changes do not otherwise reduce the Successor Agency's <br />rights under the Purchase Agreement, or waive requirements under the Purchase Agreement; and <br />WHEREAS, a Fifth Amendment to the Purchase and Sale Agreement (the "Fifth <br />Amendment") has been presented to the Board of Directors of the Successor Agency ("Board of <br />Directors"); and <br />WHEREAS, the Board of Directors is familiar with the contents thereof, and <br />WHEREAS, the City Manager, acting as Executive Director of the Successor Agency, <br />recommends approval of the Agreement. <br />NOW, THEREFORE the Successor Agency to the City of San Leandro Redevelopment <br />Agency hereby RESOLVES as follows: <br />1. Subject to approval by the Alameda County Oversight Board and subject to the <br />approval by the Successor Agency to the City of San Leandro Redevelopment Agency, the Fifth <br />Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions are hereby <br />approved;and <br />2. That the Fifth Amendment substantially in the form presented is hereby approved <br />and execution by the Executive Director is hereby authorized; and <br />3. That the Executive Director is authorized to make non -substantial revisions to the <br />Fifth Amendment, subject to the approval of the Agency Counsel as to form; and <br />4. That the executed Fifth Amendment shall be attached to and made part of this <br />resolution; and <br />5. The Executive Director and her designees are authorized and directed to execute all <br />documents and take all actions necessary to implement this Resolution, including without <br />limitation the execution of deeds, certificates of acceptance, and all other necessary instruments, as <br />applicable. <br />RESOLUTION NO. 2022-133 3 <br />
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