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HomeMy WebLinkAbout1991-5286 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 5286 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING A CERTAIN CONTRACT BY AND AMONG THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, THE CITY OF SAN BERNARDINO AND THE COUNTY OF SAN BERNARDINO PERTAINING TO THE USE OF CERTAIN COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS (WEST SIDE PLAZA PROJECT) WHEREAS, the Community Development Commission of the City of San Bernardino (the "Commission") on behalf of the Redevelopment Agency of the City of San Bernardino (the "Agency"), is a redevelopment agency, a public body, corporate and politic of the State of California, organized and existing pursuant to the Community Redevelopment Law (Part 1 of Division 24) commencing with Section 33000 of the Health and Safety Code of the State of California (the "Act"); and WHEREAS, the Redevelopment Plan for the Northwest Redevelopment Project (the "Redevelopment Plan") was previously approved and adopted by the Mayor and Common Council of the City of San Bernardino (the "council") by Ordinance No. MC-189, dated July 6, 1982; and WHEREAS, the Redevelopment Plan provides for the redevelopment of real property pursuant to the Redevelopment Plan by owners thereof or by parties seeking to acquire real property from the Agency; and - 1 - 1 WHEREAS, the Agency has previously entered into a 2 certain Disposition and Development Agreement by and between the 3 Redevelopment Agency of the ci ty of San Bernardino and New 4 Frontier Commercial Properties, Inc. (the "DDA"), pertaining to 5 the development of a certain shopping center project (the 6 "project") within the project area subject to the Redevelopment 7 Plan; and 8 9 WHEREAS, in connection with the implementation of the 10 DDA, the Agency had deemed it necessary to cause an amendment to 11 the DDA pertaining to the funding of certain Agency redevelopment 12 assistance as further provided in the DDA; and 13 14 WHEREAS, in connection with the proposed amendment to 15 the DDA, the Agency and the City of San Bernardino (the "City") 16 deem it desirable to enter into a certain contract by and among 17 the Agency, the City and the County of San Bernardino (the 18 "County") pertaining to the use of certain Community Development 19 Block Grant funds in connection with the development of the 20 Project (the "County Contract"); and 21 22 WHEREAS, the Commission deems it desirable to enter 23 into that certain County Contract, a copy of which is attached 24 hereto as Exhibit "A" and incorporated herein by this reference, 25 which pertains to the funding of the Agency I s redevelopment 26 assistance in connection with the development of the Project; and 27 28 - 2 - 1 WHEREAS, the County Contract provides for a loan from 2 the County to the developer of the proj ect under the DDA of 3 certain community Development Block Grant funds the proceeds of 4 which are to be used for certain grading work, site clearing and 5 public improvements and which loan shall be secured by a letter 6 of credit obtained by the Agency. 7 8 9 10 11 12 Section 1. 13 County contract, a 14 Exhibit "A". 15 16 section 2. The Commission hereby authorizes the 17 Chairman and Secretary of the Agency to execute the County 18 ontract and to execute such other documents as may be necessary 19 0 implement the County Contract and to make any necessary non- 20 ubstantive changes to the County Contract as may be approved by 21 Counsel. 22 11/ 23 1/1 2411/ 25 III 2611/ 27 1/1 28 III NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION ACTING ON BEHALF OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: The copy of commission which is hereby approves attached hereto the as - 3 - 1 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING A CERTAIN CONTRACT BY AND AMONG THE 2 REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, THE CITY OF SAN BERNARDINO AND THE COUNTY OF SAN BERNARDINO PERTAINING TO THE 3 USE OF CERTAIN COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS (WEST SIDE PLAZA PROJECT) 4 section 3. This Resolution shall take effect upon 5 6 7 8 adoption. I HEREBY CERTIFY that the foregoing resolution was duly adopted by the Community Development Commission of the City of San Bernardino at a Reaular meeting thereof, held on 9 10 11 12 ESTRADA 13 REILLY FLORES 14 MAUDSLEY MINOR 15 POPE-LUDLAM MILLER 16 17 the 6th day of Mav , 1991, by the following vote, to wit: commission Members: AYES NAYS ABSTAIN 19 day of -1L- -1L- -1L- --A.- -1L- -K- ~nt ~ The foregoing resolution is hereby approv- M;:lY , 1991. 6th 18 20 21 22 23 Approved as to form and legal content: 24 ~ 25 By: ~ "-""'Agency Co sel . R. H co Community commission of the City of San Bernardino "~ 26 27 28 SBBO\0092\D0C\20 - 4 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 ,._~ 28 STATE OF CALIFORNIA ) COUNTY OF SAN BERNARDINO ) ss CITY OF SAN BERNARDINO ) I, T<f-nnlfth LT. Henderson Secretary of the Community Development Comm~ss~on 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. 5286 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 6th day of Mav , 1991. secr~~'f1the Community Development Commission of the City of San Bernardino 1 EXHIBIT "A" 2 COUNTY CONTRACT 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Iili.c..1 1 2 3 4 5 6 7 8 Item: 9 10 11 12 13 COMMUNITY DEVELOPMENT COMMISSION CITY OF SAN BERNARDINO AGENDA April 15, 1991 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO APPROVING A CERTAIN CONTRACT BY AND AMONG THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, THE CITY OF SAN BERNARDINO AND THE COUNTY OF SAN BERNARDINO PERTAINING TO THE USE OF CERTAIN COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS (WEST SIDE PLAZA PROJECT) EXHIBIT "A" - County Contract ..- 14 Action to be 15 Taken: Adopt Resolution 16 To be Published: N/A 17 Newspaper: N/A 18 19 certified copy of Resolution to be returned to Sabo & Green, A Professional corporation. 20 21 - SBBO\OO92\020 22 04110/910852 23 24 25 26 27 28 ('~- --- ,~\\~'''Je ~t~.... - ~- ~ ,q. -~ ~.... ""'11',\\' E New M Change X Cancel County Department FOR COUNTY USE ONL Y Vendor Code Dept. Contract Number SC ECD A Dept. Drgn. Contractor's license No. ECONOMIC AND In DEVELOPMENT ECD County Department Contract Representative County of San Bernardino FAS CONTRACT TRANSMITTAL SBA CD Ph. Ext. Amount of Contract 4594 N/A Obj/Rev Source Activity GRC/PRDJ/JDB Number 2005 00000735 Estimated Payment Total by Fiscal Year Amount lID FY Amount I/O Project Name Fifth District: West Side Plaza ShQppin2 Center (#350-13323) FY N/A N/A CONTRACTOR Citv of San Bernardino Birth Date N/A Federal 10 No. or Social Security No. N/A Contractor's Representative Kenneth J. Henderson, Executive Director of Development Department Address 300 North "D" Street, San Bernardino, CA. 92418 Phone 714-384-5065 Nature of Contract: (Briefly describe the general terms of the contract) ~ On November 19, 1990, the San Bernardino County Board of Supervisors authorized the use of $ 2,750,000 of Community Development Block Grant (CDBG) funds for an Interim Loan for the development of the West Side Plaza Shopping Center. The term of the loan will be for two (2) years. A contract for the interim loan will be between the County and the project developer. New Frontier Commercial Properties, Inc. The project will involve construction of a 95.150 square foot commercial shopping center to be located at the northeast corner of Medical Center Drive and Baseline Avenue in San Bernardino. The shopping center will consist of a supermarket. drugstore. fast food restaurants and various small retailers. This loan will be part of a $ 12.000.000 total funding package for the development of the West Side Plaza Shopping Center. This contract identifies the actions to be taken by the City of San Bernardino. the Redevelopment Agency of the City of San Bernardino, and the County in a cooperative venture to bring about the development of the West Side Plaza Shopping Center. The City and the Redevelopment Agency will provide funding and ensure compliance with all CDBG statutes and regulations. r~""""ttach this transmittal to 811 contracts not prepared on the "Standard Contract" form.} '-J(ppro Reviewed as to Affirmative Action Reviewed for Processing ~ Date Date . Agency Administrator/CAD Date EXHIBIT "A" CONTRACT /"';'''''''''''''- "- This Contract is made and entered into this day of . 19 . by and between the County of San Bernardino, hereinafter referred to as ...COUNTY.... the City of San Bernardino, hereinafter referred to as ...CITY.... and the Redevelopment Agency of the City of San Bernardino. hereinafter referred to as ...AGENCY.... WITNESSETH WHEREAS. COUNTY has entered into a contract with the United States of America through its Department of Housing and Urban Development. hereinafter referred to as ...HOD.... to execute the COUNTY'S Community Development Block Grant program. hereinafter referred to as ...CDBG.... under the Housing and Community Development Act of 1974, as amended. hereinafter referred to as the "'ACT"'; and WHEREAS. COUNTY Department of Economic and Community Development. hereinafter referred to as ...ECD.... is authorized to act on behalf of COUNTY in administering COUNTY's CDBG program; and. WHEREAS. CITY and AGENCY, jointly and severally. have entered into a Development and Disposition Agreement. hereinafter referred to as ...DDA.... with New Frontier Commercial Properties. Inc.. for the development of the West Side Plaza, hereinafter referred to as ...PLAZA.... a shopping center to be located at the northeast corner of Medical Center Drive and Baseline Street in San Bernardino; and, ,'-"-' ',- WHEREAS. AGENCY is providing a 10.1 acre parcel of land located at the northeast corner of Medical Center Drive and Baseline Street and CITY is providing a $450.000 loan for the purpose of the development of the West Side Plaza; and, WHEREAS. HUD is providing CITY with an "'Urban Development Action Grant" (UDAG) of $1.848.000 for the purpose of the development of the West Side Plaza; and, WHEREAS, New Frontier Commercial Properties. Inc., hereinafter referred to as ...DEVELOPER.... is the developer of the West Side Plaza and will secure a construction loan of $5.700.000 from a private lender for the purpose of the development of the West Side Plaza; and. WHEREAS, COUNTY Board of Supervisors has authorized a CDBG interim loan in an amount not to exceed $2.750,000. secured by an "'AA'" rated. unconditional, irrevocable and payable on demand Letter of Credit. for the purpose of the development of the West Side Plaza; and. WHEREAS. COUNTY. CITY and AGENCY. recognize the public benefit in providing commercial and retail services to the residents of the West Side of San Bernardino and the unincorporated community of Muscoy. NOW THEREFORE. in consideration of the mutual covenants herein set forth and the mutual benefits to be derived therefrom. the parties agree as follows. 1. PURPOSE ""-'~ The purpose of this Contract is to identify the actions to be taken by CITY, AGENCY. and COUNTY in a cooperative venture to bring about the development of PLAZA. 1 2. PROJECT DESCRIPTION PLAZA will be located at the northeast corner of Baseline Street and Medical Center Drive in San Bernardino. PLAZA will consist of 95,150 square feet of retail and commercial buildings which will include a supermarket, drug store, fast food restaurants and various small retailers and services. 3. FUNDING COUNTY will provide an interim loan to DEVELOPER in an amount not to exceed two million seven hundred and fifty thousand dollars ($2,750,000) for the purpose of the development of PLAZA. The loan will be funded from COUNTY CDBG funds and will be made available upon the execution of a separate Loan Agreement between COUNTY and DEVELOPER. Said Loan Agreement will be for a maximum two (2) year term at a three percent (3%) interest rate. The Loan is payable On Demand and the demand shall be made at the sole and absolute discretion of the COUNTY. An additional two (2) year term may be negotiated upon the conclusion of the first two (2) year term upon approval by COUNTY Board of Supervisors. Said Loan Agreement will require DEVELOPER to secure its' performance with an appropriate "AA" rated Letter of Credit acceptable to COUNTY in its sole discretion. Said letter of credit will be unconditional and irrevocable. Furthermore, it shall be payable upon demand by COUNTY. Payment of CDBG funds by COUNTY to DEVELOPER shall be in the form of reimbursement of COUNTY authorized expenses accrued by DEVELOPER for the development of PLAZA. ",+-","'.'-'" CITY and AGENCY, jointly and severally, shall provide sufficient funding to complete PLAZA. ......' 4. COUNTY CONDITIONS COUNTY enters into this Contract in reliance on CITY, AGENCY, and DEVELOPER having entered into a DDA, and any other agreements necessary for the completion of PLAZA and the securing of all financing necessary for completion of PLAZA. 5. CONSIDERATION TO CITY AND AGENCY CITY and AGENCY, and each of them, acknowledge receipt of valuable consideration from COUNTY through operation of this Contract, including, but not limited to COUNTY'S loan of funds to DEVELOPER. 6. MAINTENANCE AND OPERATION CITY and AGENCY, jointly and severally, shall cause PLAZA to be maintained and operated to a professional standard for the term of this Contract. Said PLAZA shall be sufficiently maintained to allow for operations at all times during the useful life of PLAZA. 7. DESIGN REVIEW ".,~ COUNTY shall, in the course of the design phase, have the right to review all plans and specifications relating to the construction of PLAZA. ECD shall be included in the design review on behalf of COUNTY. 2 ""- /'- ."",,-, .,~; 8. ON-SITE INSPECTION COUNTY its officers, agents, employees, persons under contract with COUNTY and representatives of BUD will have the privilege and right to on-site inspection of PLAZA for the duration of this Contract. CITY and AGENCY, jointly and severally, will ensure that their employees or agents furnish any inf~rmation, that in the judgement of COUNTY and BUD representatives, may be relevant to a question of compliance with contractual conditions, BUD directives, or the effectiveness, legality and achievements of the CDBG program. 9. HOLD HARMLESS CITY and AGENCY, jointly and severally, shall indemnify, reimburse (including, but not limited to, attorney fees and court costs), defend and hold COUNTY, its officers, agents, and employees, harmless from and against any loss, liability, claim or damage that may arise or result from activities of CITY, AGENCY, DEVELOPER, their officers, agents and employees, pursuant to this Contract. CITY and AGENCY, jointly and severally, shall, at their own cost, expense and risk, defend any legal proceedings that may be brought against COUNTY, its officers, agents and employees, on any liability claim or demand and satisfy any judgement that may be rendered against any of them arising or resulting from activities of CITY, AGENCY, DEVELOPER, their officers, agents and employees, pursuant to this Contract. CITY and AGENCY, and each of them, are obligated to promptly notify COUNTY in writing of the occurrence of any such loss or damage. CITY and AGENCY, jointly and severally, shall indemnify, reimburse, defend and hold harmless COUNTY against any liability, claims, losses, demands and actions incurred by COUNTY, as a result of a determination by the United States Department of Housing and Urban Development or its successor that activities undertaken by CITY and AGENCY, or either of them, under the program or program(s) fail to comply with any laws, regulations or policies applicable thereto or that any funds billed by and disbursed to DEVELOPER pursuant to the Loan Agreement identified in paragraph 3, Funding, under this Contract were improperly expended. Furthermore, CITY and AGENCY, and each of them, shall indemnify, defend and hold harmless, COUNTY against any liability, claims, losses, demands and actions by CITY, AGENCY, or DEVELOPER against the COUNTY as a result of COUNTY demand for payment of the Letter of Credit, identified in paragraph 3, Funding, of this Contract. CITY and AGENCY, jointly and severally, unconditionally guarantee to COUNTY, its successors and assigns, the due and punctual payment of the principal and interest and all other sums payable, with respect to the Loan Agreement Note, hereafter wNOTEw, of the DEVELOPER to COUNTY. The NOTE, and the interest thereon and all other sums payable with respect thereto, including all sums due under the Loan Agreement, are hereafter collectively called wLIABILITIES". CITY and AGENCY, jointly and severally, waive any notice of the incurring by the DEVELOPER, at any time, of any LIABILITIES, and waives any and all presentment, demand, protest or notice of dishonor, nonpayment, or other default with respect to any of the LIABILITIES. The CITY and AGENCY, jointly and severally, hereby grant to COUNTY full power, in its sole discretion and without notice to the CITY, AGENCY, or either of them, but subject to the provisions of any agreement between the DEVELOPER and COUNTY at the time in 3 ~, force, to deal in any manner with the LIABILITIES and the Letter of Credit, including, but without limiting the generality of the foregoing, the following powers: (a) To modify or otherwise change any terms of all or any part of the LIABILITIES (but not to increase the principal amount of the Note of the DEVELOPER to COUNTY), to grant any extension or renewal thereof and any other indulgence with respect thereto, and to effect any release, compromise or settlement with respect thereto; (b) To enter into any agreement of forbearance with respect to all or any part of the LIABILITIES, or in respect to all or any part of the Letter of Credit, and to change the terms of any such agreement; (c) To forbear from calling for additional collateral to secure any of the LIABILITIES. The COUNTY will not substitute collateral without the prior written consent of CITY and AGENCY, jointly and severally, which consent shall not be unreasonably withheld; (d) To consent to the substitution, exchange, or release of all or any part of the collateral whether or not the collateral, if any, received by COUNTY upon any such substitution, exchange, or release shall be of the same or of a different character or value than the collateral surrendered by COUNTY; (e) In the event of the nonpayment when due, whether by acceleration or otherwise, of any of the LIABILITIES, or in the event of default in the performance of any obligation secured by the collateral, to foreclose on the collateral or any part thereof, as a whole or in such parts or subdivided interests as the COUNTY may elect, at any public or private sale or sales, for cash or on credit or for future delivery, without demand, advertisement or notice of the time or place of sale or any adj ournment thereof (the CITY and AGENCY, jointly and severally, hereby waiving any such demand, advertisement and notice to the extent permitted by law), or by foreclosure or otherwise, or to forbear from realizing thereon, all as COUNTY in its uncontrolled discretion may deem proper, and to purchase all or any part of the collateral for its own account at any such sale or foreclosure, such powers to be exercised only to the extent permitted by law. '-" The obligations of the CITY and AGENCY, and each of them, shall not be released, discharged or in any way affected, nor shall the CITY and AGENCY, and each of them, have any rights or recourse against COUNTY, by reason of any action COUNTY may take or omit to take under the foregoing powers. All obligations of the CITY and AGENCY, and each of them, and representations of the CITY and AGENCY, and each of them, to the COUNTY shall continue in full force and effect until the LIABILITIES are paid in full and all other duties and obligations of the parties have been discharged. "~ In case the DEVELOPER shall fail to pay all or any part of the LIABILITIES when due, the CITY and AGENCY, jointly and severally, immediately upon the written demand of COUNTY, will pay to COUNTY the amount due and unpaid by the DEVELOPER. COUNTY shall not be required, prior to any such demand on, or payment by, the CITY or AGENCY, or either of them, to make any demand upon or pursue or exhaust any of its rights or remedies against the DEVELOPER or 4 r"~ ",,- r Ii ",,- 11. others with respect to the payment of any of the LIABILITIES, or to pursue or exhaust any of its rights or remedies with respect to any part of the collateral. The CITY and AGENCY, and each of them, shall have no right of subrogation whatsoever with respect to the LIABILITIES or the collateral unless and until COUNTY shall have received full payment of all the LIABILITIES. The COUNTY will attempt to obtain payments under the terms of the Letter of Credit. The COUNTY'S failure or inability to exercise its rights under the Letter of Credit shall not relieve the CITY and AGENCY, and each of them, from its obligations to pay to the COUNTY the LIABILITIES owed by the DEVELOPER. The CITY and AGENCY, and each of them, are aware and understand that the COUNTY can demand payment from the DEVELOPER, the CITY, and the AGENCY, jointly and severally, at the sole and absolute discretion of the COUNTY. 10. FIRE INSURANCE CITY and AGENCY, and each of them, shall cooperate with COUNTY to obtain and deliver to COUNTY for COUNTY'S approval, certification(s) or policy(s) of standard fire insurance with extended coverage and vandalism and malicious mischief endorsements for the full replacement value of PLAZA. In the event of any damage or destruction to the improvements covered by the insurance, CITY and AGENCY, and each of them, shall use the entire insurance proceeds to restore the improvements. The insurance required under this paragraph shall be maintained by CITY and by AGENCY, at their sole expense for the term of this Contract. Said insurance shall contain endorsements providing that the insurance company issuing the insurance will not cancel or reduce the insurance coverage without thirty (30) days prior written notice to COUNTY. CITY, or AGENCY, or both of them, shall inform COUNTY in writing of any chaI:1ge, expiration or renewal of said insurance within (30) days of the effective date of change. COMPLIANCE WITH LAWS All actions taken by CITY and AGENCY, and by each of them, shall comply with the provisions of the Housing and Community Development Act of 1974 and any amendments thereto (Federal Title 42, U.S.C. Section 5301, II ~), the Federal regulations and guidelines now or hereafter enacted pursuant to said Act (Federal Title 24 CFR, Part 570), Administrative Requirements for Grants (Federal Title 24, CFR, Part 85), Section 3 of the Housing and Urban Development Act of 1968 (Federal Title 24 CFR, Part 135) and all other Federal and State statutes and regulations applicable thereto. COUNTY reserves the right to review any action or decision related to applicable regulations. CITY and AGENCY, and each of them, shall provide to COUNTY wi thin 10 days of written request of COUNTY, any and all documents pertaining to this paragraph as requested by COUNTY. 12. CONFLICT OF INTEREST - CITY and AGENCY, jointly and severally, and COUNTY, their agents and employees shall comply with all Federal, State and County laws and regulations governing conflicts of interest. To this end, CITY and AGENCY, jointly and severally, and COUNTY will make available to their agents and employees, copies of all applicable Federal, State and County laws and regulations governing conflict of interest. 5 13. ASSIGNMENT (..- '.......... CITY and AGENCY, and each of them, shall not assign this Contract or any interest therein, or the DDA or any interest therein, unless COUNTY has previously given its written consent. Provided, however, that any approved assignment shall be subject to all the terms, covenants, and conditions of this Contract and of the DDA. If CITY or AGENCY, or both of them, attempt to effect any unauthorized assignment, or if any transfer occurs by operation of law, or if this Contract or any interest herein, or the DDA or any interest therein, is subjected to garnishment or sale under any execution of any suit or proceeding brought against or by CITY and AGENCY, or either of them, or if CITY and AGENCY, or either of them, are adjudged bankrupt or insolvent by any court or upon CITY or AGENCY, or both of them, making an assignment for the benefit of creditors, COUNTY may, at its option, forthwith terminate this Contract upon written notice thereof to CITY and to AGENCY, and thereupon, no one but COUNTY shall have any further rights hereunder. 14. VIOLATION OF CONTRACT In the event that CITY and AGENCY, jointly and severally, or their successors, violates any of the terms and conditions of this Contract, COUNTY shall give written notice of violation and demand for correction. If, within thirty (30) days from receipt of written notice, CITY and AGENCY, or either of them, have not corrected the violation or shown acceptable cause therefore, COUNTY has the right to terminate this Contract and/or proceed with whatever other legal rights it may have against the CITY, the AGENCY, and each of them, under the terms of this Contract and/or under the laws of the State of California. "-' 15. REDUCTION IN FUNDING Notwithstanding Section 14, Violation of Contract, above, COUNTY may immediately terminate this Contract upon the termination, suspension, discontinuation or substantial reduction in HUD Community Development Block Grant funding of the Contract activity. 16. REVERSION OF ASSETS All real property acquired or improved in whole or in part with CDBG funds in excess of $25,000 under this Contract must continue in the use that provides the service benefits and national objectives for which it was funded until five years after expiration of this Contract as set forth in the Federal Regulation at 24 CFR 570, or such longer period of time as determined by COUNTY; or it must be disposed of in a manner resulting in a reimbursement to COUNTY in the amount of the current fair market value of the property less any portion thereof attributable to expenditures of non-CDBG funds for the acquisition of, or improvement to, the property. 17. MODIFICATIONS This Contract may be amended or modified only by a written agreement signed by all parties. Failure by any party to enforce any provision(s) of this Contract shall not be construed as a waiver of the right to compel enforcement of such provision(s) thereafter. ~ 6 "-- 18. NOTICES All notices shall be served in writing. The notices shall be sent by prepaid certified First Class Mail to the following addresses: COUNTY County of San Bernardino Department of Economic and Community Development 474 West Fifth Street San Bernardino, CA 92415-0040 CITY AND AGENCY Ci ty of San Bernardino Redevelopment Agency 300 North WDW Street San Bernardino, CA 92418 19. EFFECTIVE DATE 20. !,.::$~~ '-' 21. - This Contract shall be effective upon approval by COUNTY Board of Supervisors and shall expire concurrently with the aforementioned interim Loan Agreement between DEVELOPER and COUNTY. INVALID CONDITIONS If, for any reason, anyone or more of the terms, provisions, sections, promises, covenants or conditions of this Contract or DDA is judged by a court of competent jurisdiction to be partially or wholly invalid, unenforceable, void or voidable, all of the remaining terms, provisions, sections, promises, covenants and conditions shall remain valid and enforceable. However, should such judicial decision materially affect the powers and duties of any of the parties to this Contract, the parties shall, if possible in light of the decision of the court, negotiate such amendment to this Contract as is necessary to carry out the intent of the parties hereto. If it is not possible to so amend this Contract, then the parties shall, to the extent reasonably possible, return each other to the position each party occupied prior to entering this Contract. BINDING INTEREST This Contract shall be binding on the parties, successors in interest, heirs and assigns. 7 r- "'-'" r- '''-'' '- IN WITNESS WHEREOF, the parties have caused this Contract to be executed as of the day and year written above. COUNTY OF SAN BERNARDINO By: Chairman Dated: SIGNED AND CERTIFIED THAT A COPY OF nllS DOCUMENT HAS BEEN DELIVERED TO THE CHAIRMAN OF THE BOARD EARLENE SPROAT Clerk of the Board of Supervisors of the County of San Bernardino By: Dated: APPROVED AS TO LEGAL FORM By: AGMTS/PLAZA.AGT 3/18/91/BT/bjj 5/2/91/BT/pn CITY OF SAN BERNARDINO By: Mayor Dated: By: City Attorney Dated: CITY OF SAN BERNARDINO REDEVELOPMENT AGENCY By: Dated: 8