Contract No.: 2022029 A2 �����------
Approved: __________ _
SECOND AMENDMENT
TO
CONSTRUCT/ON CREDIT/REIMBURSEMENT AGREEMENT
FOR
PINE AVENUE STREET IMPROVEMENTS
(Phase I, (Stages 1-3) & Stage 4)
THIS SECOND AMENDMENT TO CONSTRUCTION CREDIT/REIMBURSEMENT AGREEMENT FOR PINE AVENUE STREET IMPROVEMENTS {"Amendment No. 2") is made and entered into this 18th day of June 2024 ("Effective Date"), by and between the CITY OF CHINO, a California municipal corporation ("City") and CHINO DEVELOPMENT CORPORATION, a California corporation and CHINO PRESERVE DEVELOPMENT CORPORATION, a California Corporation (collectively, "Developer"). City and Developer are sometimes hereinafter referred to individually as "Party" and jointly as "Parties".
RECITALS
WHEREAS, Pine Avenue, between Euclid and Hellman Avenues, is a major roadway arterial within The Preserve Specific Plan area that will be a total of six-lanes with a raised landscaped median when fully constructed; and
WHEREAS, traditionally, new developments within The Preserve that are adjacent to Pine Avenue are required by the City to dedicate the necessary right-of-way for, and to design and construct portions of, the roadway segments as identified; and
WHEREAS, City and Developer entered into that certain Construction Credit/Reimbursement Agreement for Pine Avenue Street Improvements (Phase I, (Stages 1-3) & Stage 4) on June 15, 2021 ("Agreement") for the phased construction of the Pine Avenue Street Improvements for Stages 1-4; and WHEREAS, Developer is currently in active construction of the Stage 4 Pine Avenue Improvements ("Stage 4"), which includes three eastbound lanes and two westbound lanes from the westerly boundary of the Town Center at The Preserve to Harvest Way/Homecoming Drive; and WHEREAS, City approved the first amendment to the Agreement on May 16, 2023, to include additional roadway rehabilitation at the intersection of Pine Avenue/West Preserve Loop ("Additional Improvements") to mitigate associated noise and vibration resulting from vehicles traveling through subject intersection at the City's request; and
WHEREAS, City is now requesting Developer to construct frontage improvements including the sidewalk on the southside of Pine Avenue, in conjunction with intersection improvements (traffic signal modification, crosswalk, and curb ramps) at Pine Avenue/West Preserve Loop ("Pedestrian Improvements"), as shown on Exhibit I attached to this Amendment No. 2.
WHEREAS, Pedestrian Work is estimated to cost $290,163, which includes contingencies and soft costs; and
01225.0005/887368.3