4157-2363-5024.2
FIRST AMENDMENT TO
ACQUISITION AND FUNDING AGREEMENT
by and among
CITY OF FONTANA
COMMUNITY FACILITIES DISTRICT NO. 111
(MONTERADO)
and
CITY OF FONTANA
and
LENNAR HOMES OF CALIFORNIA, LLC
Dated as of June 1, 2024
City of Fontana
Community Facilities District No. 111
(Monterado)
Special Tax Bonds
4157-2363-5024.2
FIRST AMENDMENT TO
ACQUISITION AND FUNDING AGREEMENT
THIS FIRST AMENDMENT TO ACQUISITION AND FUNDING AGR EEMENT (this “First Amendment”), dated as of June 1, 2024, is by and among the CITY OF FONTANA COMMUNITY FACILITIES DISTRICT NO. 111 (Monterado), a community facilities district organized and existing under the laws of the State of California (the “Community Facilities District”), the CITY OF FONTANA, a general law city organized and exi sting under the laws of the State of California (the “City”), and LENNAR HOMES OF CALIFORNIA, LLC , a limited liability company organized and existing under the laws of the State of California (the “Developer”).
WITNESSETH:
WHEREAS, the Community Facilities District, the City and the Develope r previously entered into the Acquisition and Funding Agreement, dated as of September 1 , 2022 (the “Original Acquisition Agreement ”), pu rsuant to which, in accordance with the terms set forth therein, the Developer is t o constr uct or ca use t o be constructe d c ertain public facilities (the “Acquisition Facilities”) that, upon satisfaction of the conditions specified therein, the City is to acquire and take title to, and the Developer is to be paid the purchase price of, determined as set forth therein;
WHEREAS, pursuant to the Original Acquisition Agreement, such pur chase price with respect to each segment of th e Acquisition Facilities is to be paid from the proceeds of the special tax or bonds of the Community Facilities District; WHEREAS, the Original Acquisition Agreement provides that the Original Acquisition Agreement may be amended b y an instrument in w riting execute d and deli vered by the Community Facilities District, the City and the Developer; and WHEREAS, the Cit y and the Develop er desire to enter into this First Amendment in order t o amend the Acquisition Cost (as defined in the Original Acquis ition Agreement) of certain of the segments of the Acquisition Facilities set forth in the Original Acquisit ion Agreement;
NOW, THEREFORE , for and in consideration of the mutual promises and covenan ts contained here in, the recei pt of which is hereby acknowledged, the parti es hereto agr ee a s follows:
Section 1.1. Definitions. Capitalized undefined terms used herein shall have the meanings ascribed thereto in the Original Acquisition Agreement.
Section 1.2. Amendment to Exhibit A. Exhibit A of the Original Acquisition Agreement is hereby amended to read in full as set forth in Exhibit A hereto.
Section 1.3. Effect of First Amendment. This First Amendment and all of the terms and provisions herein cont ained shall form part of the Original Acquisition Agreement as fully
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and with the same effect as if all such terms an d provisions had been set forth in the Original Acquisition Agreement. The Original Acquis ition Agreement is hereby ratified and confirmed and shall continue in full force and effect in accordance with the terms and provisions thereof, as amended hereby. If there shall be any conflict between the terms of this First Amendment and the terms of t he Original Acquisition Agreement (as in effe ct on the day prior to the effective date of this First Amendment), the terms of this First Amendment shall prevail.
Section 1.4. Counterparts. This First Amendment may be executed in counterparts, each of which shall be deemed an original.
Section 1.5. Effective Date . Upon the execution and delivery hereof by the par ties hereto, this First Amendment shall be effective as of _________, 2024.
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IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the day and year first hereinabove written.
CITY OF FONTANA COMMUNITY
FACILITIES DISTRICT NO. 111
(MONTERADO)
By:
Matthew C. Ballantyne,
City Manager of the City of Fontana
CITY OF FONTANA
By:
Matthew C. Ballantyne,
City Manager
LENNAR HOMES OF CALIFORNIA,
LLC,
a California limited liability company
By:
Geoffrey Smith,
Vice President
A-1
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EXHIBIT A
ACQUISITION FACILITIES
Segment/Component
Acquisition
Cost
Street Improvements
Street Improvements for Citrus Avenue including AC/AB, sidewalk s, streetlights, signing and striping. Improvements from Duncan Canyon north to the north project boundary (about 1200 linear feet). Also transition improvements in Duncan Canyon east of Citrus for traffic flow. Widen as necessary at the intersection, and grind and overlay as necessary. $618,661
Subtotal $618,661
Sewer Improvements
Sewer improvements within Citrus Avenue, including, but not limited to, mobilization, approximately 1450 linear feet of 8” sewer pipe, seven manholes and cleanout assemblies. Tie to an existing manhole with pavement repair. Video/air/mandrel testing, and traffic control. $491,112
Subtotal $491,112
Storm Drain Improvements
Storm drain improvements within Citrus Avenue, including, but not limited to, four catch basins with RCP lateral s to the City Master Plan, two laterals connecting to the City Master Plan, approximately two transition structures, removal and replacement of AC as necessary in Duncan Canyon, video storm drain, traffic plates and traffic control.
$450,038
Subtotal $450,038
Landscape Improvements
Construction of Landscape Improvements along Citrus Avenue beginning 400 feet north of Duncan Canyon and extending approximately 800 feet.
Improvements include but are not limited to grading, walls, irrigat ion, planting drainage and utility connections.
$416,986
Subtotal $416,986
A-2
4157-2363-5024.2
Segment/Component
Acquisition
Cost
Pole Removal/Relocation Improvements
Remove and relocate power poles to facilitate undergrounding of utilities. $357,557 Subtotal $357,557
TOTAL: $2,334,354