RECORDING REQUESTED BY:
City of Fresno
No Fee-Gov’t. Code Sections
6103 and 27383
WHEN RECORDED, MAIL TO:
City of Fresno
2600 Fresno Street
Fresno, CA 93721
Attention: City Manager
______________________________________________________________________ (SPACE ABOVE THIS LINE FOR RECORDER'S USE)
FIRST AMENDMENT TO DISPOSITION AND DEVELOPMENT AGREEMENT
by and between
CITY OF FRESNO,
a municipal corporation
and
METRO HOSPITALITY SERVICES, INC.
M and Inyo Streets
Hilton or Marriot
Fresno, California 93721
FIRST AMENDMENT TO
DISPOSITION AND DEVELOPMENT AGREEMENT
THIS FIRST AMENDMENT TO DISPOSITION AND DEVELOPMENT
AGREEMENT ( Amendment) is entered as of ____________ , 202 2 (Effective Date) , between the CITY OF FRESNO, a municipal corporation, (City) and METRO HOSPITALITY SERVICES, INC. (Developer).
RECITALS
A. WHEREAS, the parties entered into a Disposition and Development Agreement (the Agreement) effective December 18, 2017, and recorded on December 21, 2017, as Document Number 2017 -0164954 in the Office of the Fresno County Recorder ; and
B. WHEREAS, the Agreement set forth terms and conditions for Developer to purchase the Property from the City and develop it privately as a Hilton or Marriot multi - story hotel with 200 rooms; and
C. WHEREAS, the parties wish to amend the terms of the Agreement to extend certain deadlines in the performance schedule and revise the number of hotel rooms.
NOW, THEREFORE, BE IT RESOLVED, that the parties hereby amend the terms of the Agreement as follows:
1. All references in the Agreement regarding a 200-room hotel shall be changed to reflect a 144-room hotel.
2. The Performance Schedule (Exhibit C attached to the Agreement) is hereby deleted in its entirety and replaced with the “Revised Exhibit C –Amendment” attached to this Amendment.
3. Capitalized terms us ed herein and not otherwise defined shall have the meaning given to such terms in the Agreement.
4. Except as expressly set forth herein, the terms and conditions of the Agreement shall remain in full force and effect.
5. In the event of a conflict between this Amendment and the Agreement, the terms of this Amendment shall control.
6. In the event this Amendment is not executed by the Developer and delivered to City within ten days of City Council approval, this Amendment shall be null and void.
[SIGNATURE PAGE TO FOLLOW]
IN WITNESS WHEREOF, City and Developer have signed this Amendment effective as of the date first above written.
CITY OF FRESNO,
a municipal corporation
By:
Georgeanne White,
City Manager
(Attach notary certificate of acknowledgment)
APPROVED AS TO FORM:
Douglas T. Sloan
City Attorney
By:
Tracy N. Parvanian Date
Senior Deputy City Attorney
ATTEST:
TODD STERMER, CMC
City Clerk
By:
Deputy
METRO HOSPITALITY SERVICES, INC.
By: _____________________
Tehal Thandi,
President and Secretary
(Attach notary certificate of acknowledgment)
Attachment:
Revised Exhibit “C” Amendment – Performance Schedule effective March 10, 2022
REVISED EXHIBIT “C” –AMENDMENT
Performance Schedule effective March 10, 2022
Items Completed Time for Performance Completion Date
City of Fresno City Council consideration
of Disposition and Development
Agreement (DDA)
Completed
Execution of DDA Within fifteen days after
approval of DDA by City
Council and receipt and
approval of insurance
certificates and receipt of
executed documents from
Developer.
Completed
Escrow Opens Within three days following the
effective date of the DDA
Submission of Building Plans for
Planning and Building Review
Completed
Escrow Closes Within thirty days of approval of
all land use and other
entitlements, permits, and
approvals that City or any other
governmental agency with
jurisdiction over the Project
requires for construction of the
Project.
Completed
Commencement of Construction of
Developer’s Improvements. Within thirty
days after receipt of building permits by
the Developer, construction shall
commence on the improvements to be
constructed on the Project Site.
June 2022
Completion of Construction of
Developer’s Improvements. The
Developer shall complete construction of
the improvements to be constructed on
the Project Site.
December 2024
Issuance – Certificate of Completion.
City shall furnish the Developer with a
Certificate of Completion on the Project.
Promptly after completion of all
construction and upon written
request thereof by the
Developer.
February 2025