HomeMy WebLinkAbout1987-5025
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06/29/87
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RESOLUTION NO. 5025
A RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
AUTHORIZING AND DIRECTING THE EXECUTION OF
AMENDMENT NO. 1 TO THAT CERTAIN DISPOSITION AND
JOINT DEVELOPMENT AGREEMENT BY AND BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN
BERNARDINO AND STURGES CENTER FOR THE ARTS
WHEREAS, on or about November 1, 1984, the Redevelopment
Agency of the City of San Bernardino (the "Agency") and Sturges
Center for the Arts (" Sturges") entered into a certain Disposition
and Joint Development Agreement (the "Agreement") pursuant to which
Sturges purchased from the Agency certain real property on which was
located an auditorium to be used as a fine arts facilitYi and
WHEREAS, the Agreement generally provided that Sturges
could not convey the real property acquired pursuant to the
Agreement without the prior consent of the AgencYi and
WHEREAS, subsequent to the execution of the Agreement, a
Deed of Trust has been recorded against the real property subject to
the Agreement
securing
an
indebtedness
in
the
amount
of
approximately $80,000.00 in favor of Bank of San Bernardino as
Beneficiary, and recorded in the County of San Bernardino on
December 5, 1986 as Instrument No. 86-368484 (the "Encumbrance")i and
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WHEREAS, the Agency and Sturges desire and intend to enter
into Amendment No. 1 to the Agreement pursuant to which the parties
agree that separate and apart from the Encumbrance, no additional
encumbrances, mortgages, deeds of trust or other similar liens shall
be permitted with regard to the subj ect real property without the
prior written consent of the Agency; and
WHEREAS, the Agency and Sturges desire to reaffirm the
Agency's first right of refusal on any sale of the subject property;
and
WHEREAS, it is reasonable and appropriate for the Community
Development
Commission
(the
City
of
the
San Bernardino
of
"Commission"), acting on behalf of the Agency, to approve Amendment
No. 1 to the Agreement.
NOW,
THEREFORE,
THE COMMUNITY DEVELOPMENT COMMISSION,
ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
Section 1.
The Commission hereby approves Amendment
No. 1 to the Agreement, a copy of which is appended hereto as
Exhibit "A" and is incorporated herein by reference.
The Chairman
and Secretary of the Commission are hereby authorized and directed
to execute for and on behalf of the Agency Amendment No. 1 to the
Agreement, with such non-substantive changes thereto as may be
approved by the Chairman and Agency Counsel.
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ABSTAIN OR
ABSENT:
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Section 2.
This Resolution
adoption.
ADOPTED:
July 6. 1987
Approved as to Legal
Form and Adequacy:
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Counsel to the Commission
By:
shall take effect upon
AYES: Members Estrada, Reilly, Flores, Minor, Miller.
NOES: None.
Absent: Members Maudsley, Pope-Ludlam.
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