HomeMy WebLinkAboutCDC/2001-18
(See Companion Resolution 2001-82)
RESOLUTION NO. CDC/2001-18
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION
APPROVING AN AMENDMENT TO LETTER AGREEMENT WITH THE
CITY OF SAN BERNARDINO REGARDING MAP ASSISTANCE FOR DR.
IRVING M FELDKAMP
WHEREAS, the Redevelopment Agency of the City of San
Bernardino (the "Agency") is organized and existing under the
Community Development Law (Health and Safety Code Section 33000, et
~.) and is authorized thereunder to purchase and sell property in
order to carry out its redevelopment purposes; and
WHEREAS, in 1994, the City of San Bernardino (the "City")
entered into a Settlement Agreement ("Original Settlement Agreement")
wi th Dr. Irving Feldkamp in connection with the property wi thin
Community Facilities District 995 ("CFD 995") owned by Dr. Feldkamp;
and
WHEREAS, said Settlement Agreement was amended in 1997 (the
"First Amendment"), in 1998 (the "Second Amendment") and in 1999 (the
"Third Amendment") ("Settlement Agreement" herein shall refer to the
Original Settlement Agreement, as amended); and
WHEREAS, in October, 1997 the Agency executed a Letter
Agreement (the "Letter Agreement") with the City which was amended in
1999 because the terms of the Settlement Agreement were extended; and
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CDC/2001-18
WHEREAS, the Letter Agreement states that the Agency shall
use its best efforts to provide mortgage assistance to all buyers of
the Feldkamp lots who qualify for the Agency's Mortgage Assistance
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7 WHEREAS, the City and Dr. Feldkamp desire to amend the
8 original Settlement Agreement to extend the provision of MAP
9 assistance to: 2001 \02 - $50,000; 2002\2003 - $100,000; 2003\04 -
10 $50,000 and the Agency desires to amend the Letter Agreement to
11 provide for such changes.
Program ("MAP") in the following years: 1999/2000 - $50,000; 2000/01
- $100,000; 2001/02 - $50,000; and
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13 NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION, ACTING
14 ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO,
15 DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
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17 Section 1. Execution of Revised Letter Agreement with
18 City. The Agency hereby approves the form of Letter Agreement
19 attached hereto with such changes as shall be approved by the
20 Executive Director upon recommendation of counsel. The Agency hereby
21 agrees to use its best efforts to provide mortgage assistance to all
22 buyers of the Feldkamp lots who qualify, as provided in the Letter
23 Agreement, for the Agency's MAP funds for the following period:
24 2001\02 - $50,000; 2002\2003 - $100,000; 2003\04 - $50,000
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CDC/2001-18
1 Section 2. Official Action. The Chairman, Executive
2 Director, Secretary, counsel and any and all other officers of the
3 Agency are hereby authorized and directed, for and in the name and on
4 behalf of the Agency, to do any and all things and take any and all
5 actions, including execution and delivery of any and all assignments,
6 certificates, requisitions, agreements, notices, consents, instruments
7 of conveyance, warrants and other documents, which they, or any of
8 them, may deem necessary or advisable in order to consummate the
9 transactions contemplated herein. Whenever in this Resolution any
10 officer of the Agency is authorized to execute or countersign any
11 document or take any action, such execution, countersigning or action
12 may be taken on behalf of such officer by any person designated by
13 such officer to act on his or her behalf in the case such officer
14 shall be absent or unavailable. The Agency hereby appoints its
15 Chairperson and Executive Director as agents of the Agency for
16 purposes of executing any and all documents and instruments which any
17 officer of the Agency is authorized to execute hereunder.
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CDC/2001-18
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION APPROVING AN
1 AMENDMENT TO LETTER AGREEMENT WITH THE CITY OF SAN BERNARDINO
REGARDING MAP ASSISTANCE FOR DR. IRVING M FELDKAMP
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Section 3.
This Resolution shall take effect upon the
date of its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Community Development Commission of the City of
San Bernardino at an adjourned regular meeting thereof, held on the
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16th day of April, 2001, by the following vote, to wit:
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11 Commission AYES NAYS ABSTAIN ABSENT
12 ESTRADA X
LIEN X
13 McGINNIS X
SCHNETZ _x___
14 SUAREZ ---
ANDERSON --X----
15 McCAMMACK ----
X
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18 The foregoing resolution is approved this I OJ-r'c\ day
of April, 2001.
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24 By:
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alles, Chairperson
Co u ity Development Commission
of t e City of San Bernardino
gal content:
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CDC/2001-18
EXHIBIT A
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April
2001
Redevelopment Agency of the
City of San Bernardino
201 North "E" Street, 3rd Floor
San Bernardino, CA 92401
Re: Mortgage Assistance for Feldkamp Properties
Dear Mr. Van Osdel:
7 By this letter the City of San Bernardino ("City") and the
Redevelopment Agency of the City of San Bernardino ("Agency") hereby
8 agree that pursuant to the Fourth Amendment to Mutual Release and
Settlement Agreement between the City and Irving M. Feldkamp III
9 ("Developer") dated as of April , 2001, the Agency shall use its best
efforts to provide mortgage assistance to all buyers of the subject
10 lots who qualify for the Agency's Mortgage Assistance Program ("MAP").
However, MAP funds will be available on a first come first serve
11 basis. Under the MAP, the Developer's buyers will receive assistance,
if available, of no more than the following amounts in the following
12 years: 2001\02 - $50,000; 2002\2003 - $100,000; 2003\04 - $50,000.
13 In the event the foregoing amounts are not used by
Developer's buyers in the years granted, said amounts shall not be
14 carried forward, and thus shall not be available to the Developer's
buyers in any subsequent year. The foregoing grants shall be subject
15 to all of the terms, conditions and qualifying criteria as may be
specified in the MAP as such terms, conditions and criteria exist at
16 such time and consistent with the requirements imposed by the funding
source and other discretionary criteria as may be established by the
17 Agency. Developer shall not receive any waivers of terms in
connection herewith.
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Very truly yours,
CITY OF SAN BERNARDINO
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23 AGREED AND ACCEPTED:
24 REDEVELOPMENT AGENCY OF THE
CITY OF SAN BERNARDINO
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26 By:
Gary Van Osdel
Executive Director
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By:
Judith Valles
Mayor
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STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO )ss
CITY OF SAN BERNARDINO )
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I, Secretary of the Community
Development Commission of the City of San Bernardino, DO HEREBY
CERTIFY that the foregoing and attached copy of Community Development
Commission of the City of San Bernardino Resolution No. is
a full, true and correct copy of that now on file in this office.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the official seal of the Community Development Commission of the City
of San Bernardino this day of , 2001.
Secretary of the
Community Development Commission
of the City of San Bernardino
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RECORDING REQUESTED BY:
CITY OF SAN BERNARDINO
WHEN RECORDED RETURN TO:
LEWIS D' AMATO, BRISBOIS & BISGAARD, LLP
221 No. FIGUEROA STREET SUITE 1200
LOS ANGELES, CALIFORNIA 90012
ATTN: ALEXIS G. CRUMP
Recordation Fee Not Applicable
Pursuant to Government Code Section 6103
(Space Above For Recorder's Use Only)
FOURTH AMENDMENT TO MUTUAL RELEASE
AND SETTLEMENT AGREEMENT
882001:10569.1
SBEO\0121F\DOC\18.6
7\20\99 910 jg
FOURTH AMENDMENT TO MUTUAL RELEASE AND SETTLEMENT AGREEMENT
This Fourth Amendment to Mutual Release and Settlement
Agreement (this "Fourth Amendment") is entered into this _ day
of April, 2001, by and between the city of San Bernardino, a
California municipal corporation ("City") and Irving M. Feldkamp
III or his assignees as herein provided ("Developer"). The City
and the Developer are collectively referred to as the "Parties".
SECTION 1.
RECITALS
1.1. On June 18, 1990, the City created Community
Facilities District No. 995 ("District") pursuant to the Mello-Roos
Community Facilities Act of 1982, codified at Government Code
Section 53311 et. seq. (the "Act"). Pursuant to the Act, in
December, 1990, theCity issued $7,440,000 Special Tax Bonds
("Bonds"), which were secured by the special taxes authorized to be
levied against all parcels wi thin the District. The Bonds were
then refunded with the $3,315,000 Community Facilities District No.
995 of the City of San Bernardino (Verdemont Area) Special Tax
Refunding Bonds (the "Refunding Bonds") .
1.2. The Developer owns or has an interest in unimproved
property located within the District as more fully described in
Exhibit "A" attached hereto (the "Property"). On or about
January 14, 1994, the City commenced an action for judicial
foreclosure of special tax liens in the Superior Court of the State
of California for the County of San Bernardino, against certain
named defendants therein, including Developer, bearing Case No.
SCV09593 ("Action") for failure to pay the special taxes levied
against the Property.
1.3. The Parties desired to resolve their differences and
to avoid the expense and inconvenience of any future litigation,
including without limitation, litigation of the Action, and thus
entered into a Mutual Release and Settlement Agreement dated as of
August 29, 1994 (the "Original Settlement Agreement") under which
the Developer agreed to make payments to the City for delinquent
special taxes, San Bernardino Unified School District ("School
District") fees, interest, penalties and costs provided in said
Original Settlement Agreement.
1.4. The Original Settlement Agreement was amended by
that certain First Amendment to Mutual Release and Settlement
Agreement dated October 21, 1997 (the "First Amendment") which
382001:10569.1
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modified the terms of payment and amounts due to the City under the
Original Settlement Agreement and provided for the concurrent
execution of the Purchase and Sale Agreement for the purchase by
the Developer from the City of certain real property located within
the District which real property is included in the definition of
Property contained in Section 1.2 hereof; and
1.5. On or about October 7, 1998, the Original
Settlement Agreement was amended by that certain Second Amendment
to Mutual Release and Settlement Agreement (the ~Second Amendment")
which further modified certain terms and conditions of the Original
Settlement Agreement.
1.6. On or about June 1, 1999, the Original Settlement
Agreement was again amended by that certain Third Amendment to
Mutual Release and Settlement Agreement (the ~Third Amendment")
which further modified certain terms and conditions of the Original
Settlement Agreement. (Whenever used herein and unless otherwise
specified, the ~Original Settlement Agreement" shall refer to the
Original Settlement Agreement as amended by the First Amendment,
Second Amendment and Third Amendment.)
1.7. Pursuant to the First Amendment it has been
established between the parties hereto that, as of the date of the
First Amendment, the total amount of delinquent special tax,
interest, penalties, School District Fees and costs due to the City
with respect to the Property for the period from Fiscal Year 1991-
92 to Fiscal Year 97-98 was Eight Hundred Twenty Two Thousand, Four
Hundred Ninety Three Dollars and Eighty Eight Cents ($822,493.88)
(the ~Debt"). This amount represented $10,822.29 per lot for the
76 lots existing on the Property (the ~Home Release Payment"). Of
this amount Five Thousand Four Hundred Forty Six and 29/100 Dollars
($5,446.29) was attributable to special taxes, interest and
penalties and the remainder to other costs of the City associated
with San Bernardino Unified School District fees.
1.8. Since the date of the First Amendment, the Developer
has paid Thirty Five Thousand Three Hundred Fifty Nine Dollars and
Ninety Four Cents ($35,359.94) of the Debt which has been credited,
as follows:
DATE OF
PAYMENT
June 98
CFD CITY WATER DEPT TOTAL
RMBRSMT RMBRSMT
3,059.94 -0- -0- 3,059.94
16,473 11,951 3,876 32,300
19,532.94 11,951 3,876 35,359.94
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oct 97
SB2001:10569.1
1.9. As of the date of the Third Amendment the amount of
the Debt equaled Seven Hundred Eighty Seven Thousand One Hundred
Thirty Three and 94/100 Dollars ($787,133.94) of which Three
Hundred Ninety Four Thousand Three Hundred Eighty Four and 94/10
($394,384.94) was attributable to special taxes, interest,
penalties and costs (the "Special Tax Debt") and the remaining
balance was attributable to outstanding amounts paid to reimburse
the City for amounts owed to the San Bernardino Unified School
District.
1.10. In August, 1999, the Developer paid the full amount
of the outstanding balance of Special Tax Debt from amounts he
received from the Redevelopment Agency of the City of San
Bernardino in consideration for restricting the sale of an
aggregate of 22 lots of the Property for residents of low- and
moderate-income.
1.11. The City applied the money it received from the
Developer, along with other amounts, to pay the outstanding balance
of Special Taxes, defease the District's outstanding Refunding
Bonds and extinguish the District.
1.12. Currently, the amount due and owing from the
Developer to the City (the "Remaining Debt") equals Five Hundred
Forty Four Thousand Seven Hundred Forty Nine Dollars ($544,749).
1.13. The parties hereto now mutually desire to further
amend and supercede the Original Settlement Agreement to revise
certain terms concerning the performance obligations of Developer
as hereinafter set forth.
1.14. In consideration of the covenants, conditions
and promises herein contained, the Parties agree as, set forth.
SECTION 2.
SETTLEMENT TERMS AND CONDITIONS
2.1. The amount due and owing from the Developer to the
City hereunder (the "Remaining Debt") equals Five Hundred Forty
Four Thousand Seven Hundred Forty Nine Dollars ($544,749), and
shall be paid in the following manner:
Developer shall be required to pay a fee equal to
$7,167.75 per home (the "Modified Home Release price"):
The Modified Home Release Price includes:
882001:10"69.1
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(i)$3,884.75 per home as reimbursement to the City for School
District fees totaling Two Hundred Ninety Five Thousand Two Hundred
Forty One Dollars ($295,241) ("School District Reimbursement");
(ii) $1,283 per home as reimbursement to the City General Fund for
amounts due to the City Water District totaling Ninety Seven
Thousand Five Hundred Eight Dollars ($97,508) ("General Fund Water
Reimbursement"); and
(iii) $2,000 per home as reimbursement to the city General Fund
totaling One Hundred Fifty Two Thousand Dollars ($152,000) (the
"General Fund Payment") .
2.2. (a) The Modified Home Release Price shall be due and
payable upon final inspection and clearance of utilities prior to
authorizing occupancy for each lot whether or not the home is sold,
or upon the close of escrow of the home, but in no event later than
two (2) months after final inspection and clearance of utilities.
Notwithstanding the foregoing, Developer shall not be required to
pay the Modified Home Release Price for four (4) model homes until
the earlier of (i) the sale of such home or (ii) two (2) years from
the date of construction.
(b) Late charges shall accrue in the event the payment
required hereunder is not paid within thirty (30) days of its due
date and shall bear interest at the rate of ten percent (10%) per
annum until paid.
(c) Except as provided in Section 2.3 hereof, Developer
may not transfer title to all or any portion of the Property unless
and until it has remitted the Modified Home Release price payment.
Upon payment of the Modified Home Release Price, the City shall
execute a notice of satisfaction of lien which shall be recorded to
release the lot from this Fourth Amendment.
2.3. Notwithstanding the above, with the consent of the
City, which consent shall not be unreasonably withheld, the
Developer may enter into a construction or sales contract for
construction on the Property or sale of the Property with a
licensed contractor or a developer who, (1) between the period of
January, 1997 through January, 2001: (i) has constructed or is
scheduled to construct at least one hundred (100) single family
housing units, (ii) has developed at least 100 parcels of real
property or (iii) has achieved any combination of (i) and (ii)
totaling 100 and (2)assumes all of the duties and obligations under
this Fourth Amendment.
882001:10569.1
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2.4. The City shall not require the Developer to pay
additional school fees to the extent that the school fees included
in the calculation of the Remaining Debt are sufficient to
compensate the School District for all school fees. The Developer
shall have the sole responsibility to obtain any and all consents
or other waivers as may be required by the School District
acknowledging that the amounts set forth herein are the only School
District fees applicable to the Property.
Property
Fees") .
Fees on
2.5. In addition to being within the District, the
was also subj ect to Verdemont Infrastructure Fees ("VI
However, the Developer shall not be required to pay any VI
the Property.
2.6. The Developer has requested down payment assistance
be made available to their buyers from the Mortgage Assistance
Program ("MAP") of the Redevelopment Agency of the city of San
Bernardino ("Agency"). The City hereby confirms that it has
entered into a letter agreement in the form attached hereto as
Exhibit "B" with the Agency ( the "Letter Agreement") directing the
Agency to use its best efforts to provide MAP assistance on a first
come first serve basis to all of the Developer's buyers who qualify
for MAP assistance. Under the MAP, the buyers shall receive no
more than the following amounts in the following years: 2001/2002
- $50,000; 2002/03 - $100,000; 2003/04 - $50,000.
In the event the foregoing amounts are not used by
Developer's buyers in the years granted, said amounts shall not be
carried forward and thus shall not be available to the Developer's
buyers in any subsequent year. The foregoing grants shall be
subject to all of the terms, conditions and qualifying criteria as
may be specified in the MAP as such terms, conditions and criteria
exist at such time and consistent with the requirements imposed by
the funding source and other discretionary criteria as may be
established by the Agency. Developer shall not receive any waivers
of terms in connection with this Amendment.
2.7. The Parties hereto acknowledge that pursuant to the
(Feldkamp/Agency Agreement) dated as of
, the Agency and the Developer have agreed that in
consideration for the amounts paid by the Agency on behalf of the
Developer to extinguish the Special Tax Debt, the Developer shall
restrict the sale of an aggregate of 22 lots of the Property for
residents of low- and moderate-income.
SECTION 3.
DEFAULT TERMS
582001: 1(;')69.1
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3.1. The following shall constitute events of default by
the Developer hereunder:
(i) Failure to remit any payment to the city pursuant to
Section 2.1 hereof within forty five (45) days of its due date;
(ii) Failure to record the Final Map for Tract No. 14193
on or before August 1, 2001;
(iii) Default on the part of the Developer under any
provisions of its long term construction loan financing of the
Property.
(iv) Failure to commence construction of on-site building
by January 1, 2002, and thereafter proceed with said construction
with due diligence until completion, subject to Section 3.2 hereof.
3.2. (a) Performance by either party hereunder shall not
be deemed to be in default, or considered to be a default, where
delays or defaults are due to the force maj eure events of war,
insurrection, strikes, lockouts, riots, floods, earthquakes, fires,
casualties, acts of God, acts of the public enemy, epidemics,
quarantine restrictions, freight embargoes or weather-caused
delays (that are not attributable to the fault of the party
claiming an extension of time) or acts or failure to act of any
public or governmental agency or entity. An extension of time for
any such force maj eure cause shall be for the period of the
enforced delay and shall commence to run from the date of
occurrence of the delay; provided, however, that the party claiming
the existence of the delay first provide the other party with
written notice of the occurrence of the delay within fifteen (15)
calendar days of the occurrence of the event giving rise to delay.
The parties hereto expressly acknowledge and agree that changes in
ei ther general economic conditions or changes in the economic
assumptions of any of them which may have provided a basis for
entering into this Agreement and which occur at any time after the
execution of this Agreement, are not force majeure events and do
not provide any party with grounds for asserting the existence of
a delay in the performance of any covenant or undertaking which may
arise under this Agreement. Each party expressly assumes the risk
tha t changes in general economic conditions or changes in such
economic assumptions relating to the terms and covenants of this
Agreement could impose an inconvenience or hardship on the
continued performance of such party under this Agreement, but that
such inconvenience or hardship is not a force majeure event and
does not excuse the performance by such party of its obligations
under this Agreement. Furthermore, submittal of incomplete or
defecti ve applications, plans or drawings to any governmental
88200] :10569.1
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agency, including the City, shall not be grounds for the exercise
by the Developer of any provisions of this Section.
(b) Except for the requirement of recording the Final Tract Map by
August 1, 2001, the City agrees to extend the dates for the
performance of the duties of the Developer hereunder for the
construction of the homes on the Property as long as the Developer
proceeds with the construction of said homes with due diligence and
in a workmanlike manner in accordance with normal industry
standards.
3.3. Developer shall not be in default under subsections
(i), (ii) or (iv) of Section 3.1 in the event that such default is
the result of unlawful or unreasonable actions by the City.
"Unreasonable actions" shall not include any discretionary action,
taken by the City in its standard process of approving the final
Tract Map No. 14193 for the Property or other discretionary
approval of the City in connection with completion of the homes on
the Property.
3.4. Subject to Section 3.2 hereof, upon the happening
of an event of default, Developer shall immediately, upon written
request of the City, execute a quitclaim deed to the Property, and
deli ver said quitclaim deed and the Property to the City. Upon
delivery to the City and recordation of a quitclaim deed to the
Property, the City shall release Developer from any and all
obligations arising from the Debt against the Property.
SECTION 4.
TERMS OF PURCHASE OF PARCEL 2
4.1. The Developer purchased Parcel 2 of the Property (as
described on Exhibit A hereto) from the City for a total
consideration of Four Hundred Thirty Thousand Dollars ($430,000) of
which One Hundred Ninety Seven Thousand, Four Hundred Twenty Seven
Dollars and Fifteen Cents ($197,427.15) of the purchase price was
to be paid upon the sale of each lot to an individual purchaser
and the remainder of Two Hundred Thirty Two Thousand, Five Hundred
Seventy Two Dollars and Eighty Five Cents ($232,572.85) shall be
deemed to be paid by the Developer upon development of street
improvements (including but not limited to curbs, gutters,
sidewalks, fill-in street paving and lighting) by the Developer on
Ohio, Olive and Walnut Avenues as described in the site plans which
were prepared by MAPCO and submitted and approved by the City. The
amount due per lot equaled Four Thousand Seven Hundred Dollars and
Sixty Five Cents ($4,700.65) for each of the 42 lots for a total of
($197,427.15/42 lots) and was included in the Eight Hundred Twenty
Two Thousand Four Hundred Ninety Three Dollars and Eighty Eight
882001: 10'J69.1
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Cents ($822,493.88) set forth in Section 2.1 of the First
Amendment.
The amounts described in Section 2.1 hereof include the
One Hundred Ninety Seven Thousand, Four Hundred Twenty Seven
Dollars and Fifteen Cents ($197,427.15) amount described in this
Section 4.1. Thus, payment under Section 2.1 hereof constitutes
satisfaction of the One Hundred Ninety Seven Thousand, Four Hundred
Twenty Seven Dollars and Fifteen Cents ($197,427.15) due hereunder.
SECTION 5.
MISCELLANEOUS PROVISIONS
5.1. This Fourth Amendment contains the entire
understanding of the Parties with respect to the subject matter
hereof, and supercedes all prior agreements both written or oral
relating hereto, except that certain Bailey Creek Agreement between
the City and the Developer and the Agreement
between the Agency and the Developer which requires the Developer
to restrict 22 lots for low- and moderate-income residents. No
modification or waiver of any of the provisions hereof shall be
valid unless in writing and executed by the Parties to be bound.
5.2. This Fourth Amendment shall be governed in
accordance with the laws of the State of California. Any action
brought to enforce or interpret this Fourth Amendment, or any part
thereof, shall be brought in the State of California, in the County
of San Bernardino.
5.3. Each Party hereto certifies that he, she or it has
read all of this Fourth Amendment and fully understands all of the
same.
5.4. This Fourth Amendment shall be recorded in the
appropriate real property records of San Bernardino County,
California and shall constitute a lien on the Property described in
Exhibit "A" for the amounts set forth herein.
5.5. The effective date of the Fourth Amendment is the
date set forth in the first paragraph of hereof.
5.6. This Fourth Amendment has been duly authorized the
City, through the action of its Mayor and Common Council taken on
April 16, 2001. The representatives signing this Fourth Amendment
on behalf of the City expressly represent that he, she or they do
so with the full authority and c~nsent of the City.
SB2001:10S69.1
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[PLEASE NOTE THAT SIGNATURES OF ALL PARTIES
TO THIS AMENDMENT MUST BE NOTARIZED]
DATED: Apr il
, 2001
CITY OF SAN BERNARDINO,
a California municipal corporation
By:
APPROVED AS TO FORM AND CONTENT:
DATED: April ,2001
LEWIS D'AMATO BRISBOIS & BISGAARD, LLP
By:
Attorneys for
the City of San Bernardino
DEVELOPER
By:
Irving M. Feldkamp III
C: \25426-103\docs\ STATIC-3 .1agc. wpd
S82001:10569.1
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STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or proved to
me on the basis of satisfactory evidence) to be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged
to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on
the instrument the person(s), or the entity upon behalf of which
the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
882001:10569.1
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STATE OF CALIFORNIA
COUNTY OF
On before me,
(here insert name and title of the officer), personally appeared
, personally known to me (or proved to
me on the basis of satisfactory evidence) to be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged
to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on
the instrument the person(s), or the entity upon behalf of which
the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
882001:10569.1
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EXHIBIT "Au
[DESCRIPTION OF PROPERTY]
38200]:] 0069.1
[Date]
Redevelopment Agency of the
City of San Bernardino
201 North "E" Street, 3rd Floor
San Bernardino, CA 92401
Re: Mortgage Assistance for Developer Properties
Dear Mr. Van Osdel:
By this letter the City of San Bernardino ("City") and
the Redevelopment Agency of the City of San Bernardino ("Agency")
hereby agree that pursuant to the Fourth Amendment to Mutual
Release and Settlement Agreement between the City and Irving M.
Feldkamp III ("Developer") dated as of April 16, 2001, the Agency
shall use its best efforts to provide mortgage assistance to all
buyers of the subject lots who qualify for the Agency's Mortgage
Assistance Program ("MAP"). However, MAP funds will be available
on a first come first serve basis. Under the MAP, the Developer's
buyers will receive assistance, if available, of no more than the
following amounts in the following years: 2001/2002 - $50,000;
2002/03 - $100,000; 2003/04- $50,000.
In the event the foregoing amounts are not used by
Developer's buyers in the years granted, said amounts shall not be
carried forward, and thus shall not be available to the Developer's
buyers in any subsequent year. The foregoing grants shall be
subject to all of the terms, conditions and qualifying criteria as
may be specified in the MAP as such terms, conditions and criteria
8B2001:10569.1
exist at such time and consistent with the requirements imposed by
the funding source and other discretionary criteria as may be
established by the Agency. Developer shall not receive any waivers
of terms in connection herewith.
Very truly yours,
CITY OF SAN BERNARDINO
By:
Judi th Valles
Mayor
AGREED AND ACCEPTED:
REDEVELOPMENT AGENCY OF THE
CITY OF SAN BERNARDINO
By:
Gary Van Osdel
Executive Director
382001:10569.1