Contract No.: 2017152 A1
Approved: 720/2021 #7
FIRST AMENDMENT
TO
REIMBURSEMENT AGREEMENT
FOR
EDISON AVENUE IMPROVEMENTS
THIS FIRST AMENDMENT TO REIMBURSEMENT AGREEMENT FOR EDISON AVENUE IMPROVEMENTS ("Amendment No. 1") is made and entered into this 20t day of July 2021 ("Effective Date"), by and between the CITY OF CHINO, AS SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF CHINO, a public body, corporate and politic, hereinafter called ("Successor Agency") and L.S. COLLEGE PARK, LLC, a Delaware limited liability company ("Developer"). Successor Agency and Developer are hereinafter referred to individually as "Party" and hereinafter referred to collectively as the "Parties."
RECITALS
WHEREAS, On September 7, 2004, the City of Chino entered into the College Park Development Agreement ("Development Agreement") with SCC/College Park, LLC, the City of Chino Redevelopment Agency, and the State of California; and WHEREAS, SCC/College Park, LLC filed for bankruptcy and the rights and interests to the Development Agreement were transferred with the sale of the property to Developer; and WHEREAS, Development Agreement outlines the various terms and conditions associated with constructing public improvements within and surrounding the College Park Specific Plan area. These public improvements include the ultimate street widening of Edison Avenue adjacent to Ayala Park, from Central Avenue to Oaks Avenue, and other associated improvements such as the construction of a master-planned storm drain, a recycled water main, and traffic signal modifications at the Central/Edison Avenue intersection (collectively referred to as the "Edison Avenue Improvements"); and
WHEREAS, On August 2, 2016, the Successor Agency and Developer entered into a reimbursement agreement for the Edison Avenue Improvements for a not exceed amount of $8,431,000; and
WHEREAS, Developer began the preliminary field activities in preparation to begin the design and construction of the Edison Avenue Improvements; and
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WHEREAS, more recently, Developer completed the bidding for the remaining Edison Avenue Improvements, which exceeds the original not to exceed amount by $3,976,140.
WHEREAS, an amendment to the Agreement is required to update the estimated costs for the Edison Avenue Improvements in the amount of $12,407,140.
TERMS
NOW, THEREFORE, the Parties agree to amend the Agreement as follows:
1. CONTRACT CHANGES.
(a) Section 2 of the Agreement is hereby replaced in its entirety with:
Reimbursement. Developer shall complete all work incidental to the construction and/or installation of the Edison Avenue Public Improvements according to the specifications of the City of Chino. Construction of the Edison Avenue Public Improvements shall be competed under the inspection and to the satisfaction, of the City Engineer, and any change orders shall be approved by the City Engineer. The costs to construct the Edison Avenue Public Improvements is estimated to be Twelve Million Four Hundred Seven Thousand One Hundred Forty Dollars ($12,407,140).
Developer shall be reimbursed for the actual costs Developer incurs to construct the Edison Avenue Public Improvements pursuant to the procedure set forth in Section 4 below.
(b) Section 5 of the Agreement is hereby replaced in its entirety with:
Source of Funds for Reimbursement. Developer shall look to the Cash Portion, RPTTF Portion, and other funds from RPTTF with respect to Successor Agency's reimbursement obligations pursuant to this Agreement.
If the abovementioned funds are not made available to the Successor Agency to reimburse Developer, the City may offset the additional costs through the Measure I Five-Year Capital Project Needs Analysis funds and the Citywide Transportation Development Impact Fee program as applicable.
WARRANTY RE ABSENCE OF DEFAULTS. Developer represents and warrants to Successor Agency that, as of the Effective Date of this Amendment No. 1, Successor Agency is not in default of any material term of the Agreement, and that there have been no events that, with the passing of time or the giving of notice, or both, would constitute a material default under the Agreement by the Successor Agency.
3. CONTINUING EFFECT OF AGREEMENT. Except as amended by this Amendment No. 1, all provisions of the Agreement shall remain unchanged
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and in full force and effect. From and after the date of this Amendment, whenever the term "Agreement" appears in the Agreement, it shall mean the Agreement, as amended by this Amendment to the Agreement.
4. COUNTERPARTS. This Amendment No. 1 may be executed in multiple identical counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.
5. AUTHORITY. The persons executing this Agreement on behalf of the parties hereto warrant that (i) such party is duly organized and existing, (i) they are duly authorized to execute and deliver this Agreement on behalf of said party, (iii) by so executing this Agreement, such party is formally bound to the provisions of this Agreement, and (iv) the entering into this Agreement does not violate any provision of any other Agreement to which said party is bound.
[SIGNATURES ON FOLLOWING PAGE]
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IN WITNESS WHEREOF, SUCCESSOR AGENCY has caused this Amendment No. 1 to be executed in its behalf by its City Manager and duly attested by its City Clerk, and Developer has executed this Amendment No. 1, as of this day and year first above written.
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
Revorl
Fred Galante, City Attorney Nicholas S. Liguori, AICP
Director of Development Services
L.S. COLLEGE PARK, LLC:
7-22-2001
Dated: By:
Signature
Name: geoffrey Smit
(Please Print or Type Name)
CITY OF CHINO
Dated: 8.14.21
Matt Ballantyne, City Manager
ATTEST:
Angela Robles, City Clerk
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IN WITNESS WHEREOF, SUCCESSOR AGENCY has caused this Amendment No. 1 to be executed in its behalf by its City Manager and duly attested by its City Clerk, and Developer has executed this Amendment No. 1, as of this day and year first above written.
APPROVED AS TO FORM: APPROVED AS TO CONTENT:
- DocuSigned by:
Fred Galante Narcot
Fred Safarte, City Attorney Nicholas S Liquori, AICP
Director of Deyelopment Services
L.S. COLLEGE PARK, LLC:
7-22-2021
Dated: By:
(Signature Smith
Name: eastrinty Type Name
CITY OF CHINO
Dated:
Matt Ballantyne, City Manager
ATTEST:
Angela Robles, City Clerk
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