1 SECOND AMENDMENT TO
DISPOSITION AND DEVELOPMENT AGREEMENT
THIS SECOND AMENDMENT TO DISPOSITION AND DEVELOPMENT
AGREEMENT (“Second Amendment”) is entered into as of ____________, 2025, by and between the LANCASTER HOUSING AUTHORITY, a public body corporate and politic (the “Authority”), RAVELLO HOLDINGS, INC., a California corporation (the “Developer”) and MAISON’S SIERRA PHASE I, LP, a California limited partnership (“Phase 1 Owner”) (Authority, Developer and Phase 1 Owner are sometimes singularly referred to as “Party” and collectively referred to as “Parties”).
RECITALS
A. On May 10, 2023, the Authority and the Developer entered into that certain Disposition and Development Agreement (the “DDA”) providing for the development of the “Authority Parcel” (as defined in the DDA) in three (3) phases.
B. The DDA was amended by that certain First Amendment to Disposition and Development Agreement by and between Authority and Developer dated effective as of April 18, 2024.
C. The DDA was partially assigned with respect to the Phase 1 Parcel only to Phase 1 Owner pursuant to that certain Partial Assignment and Assumption of Disposition and Development Agreement dated as of May of 2024 by and among Developer, Phase 1 Owner and Authority.
D. The Authority, Developer and Phase 1 Owner now desire to amend the DDA as provided herein in order to, among other things, update the legal descriptions of Phase 1 Parcel, Phase 2A Parcel, and Phase 2B Parcel, all as more fully set forth in this Second Amendment.
AGREEMENTS
NOW, THEREFORE, the Authority and the Developer agree as follows:
1. Defined Terms. All capitalized terms used without definition in this First Amendment shall have the meanings given them in the DDA.
2. Phase 1 Parcel. Attachment No. 1B to the DDA depicting the Phase 1 Parcel is hereby deleted in its entirety and replaced with Attachment No. 1B attached to this Second Amendment describing the Phase 1 Parcel.
3. Phase 2A Parcel. The Phase 2A Parcel is hereby described on Attachment No. 1C attached to this Second Amendment.
4. Phase 2B Parcel. The Phase 2B Parcel is hereby described on Attachment No. 1D attached to this Second Amendment.
2 6. Effect of Second Amendment. Except as set forth in this Second Amendment, all provisions of the DDA shall remain unchanged and in full force and effect.
7. Counterparts. This Second Amendment may be executed in one or more counterparts by actual or facsimile signature (with original signatures to follow by overnight mail). All counterparts so executed shall constitute one contract, binding on all parties, even though all parties are not signatories to the same counterpart.
[SIGNATURES ON FOLLOWING PAGE]
S-1
IN WITNESS WHEREOF, the Authority and the Developer have executed this First Amendment as of the date first written above.
AUTHORITY:
LANCASTER HOUSING AUTHORITY,
a public body corporate and politic
By: _____________________________
______________, Executive Director
APPROVED AS TO FORM:
_______________________________
Authority Deputy Executive Director
_______________________________
Authority Counsel
ATTEST:
_______________________________
Authority Secretary
DEVELOPER:
RAVELLO HOLDINGS, INC.,
a California corporation
By:
Phil Ram, Chief Executive Officer
S-2
PHASE 1 OWNER:
MAISON’S SIERRA PHASE 1, LP,
a California limited partnership
By: AHA High Desert MGP, LLC,
a California limited liability company,
its Managing General Partner
By: Affordable Housing Access, Inc.,
a California nonprofit public benefit corporation,
its Manager
By:
Vasilios Salamandrakis, President
By: Ravello MODs Sierra Phase 1, LLC,
a California limited liability company,
its Administrative General Partner
By: Ravello Holdings, Inc.,
a California corporation,
its Manager
By:
Dilip K. Ram, President
Attachment No. 1B
ATTACHMENT NO. 1B
DESCRIPTION PHASE 1 PARCEL
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF
LANCASTER, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
LOTS 1 THROUGH 98 INCLUSIVE, TOGETHER WITH LOTS A, B, C, D, E, F, G, H, I, AND J, ALL OF TRACT NO. 84221 IN THE CITY OF LANCASTER, COUNTY OF
LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 1453 PAGES 1 THROUGH 12 INCLUSIVE, OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
Attachment No. 1C
ATTACHMENT NO. 1C
DESCRIPTION PHASE 2A PARCEL
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF
LANCASTER, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
PARCEL 1:
LOT 99 OF TRACT NO. 84221 IN THE CITY OF LANCASTER, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 1453 PAGES 1 THROUGH 12 INCLUSIVE, OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
EXCEPTING THEREFROM ALL INTEREST OF GRANTOR IN OIL, GAS,
HYDROCARBON SUBSTANCES AND MINERALS OF EVERY KIND AND
CHARACTER LYING MORE THAN FIVE HUNDED (500) FEET BELOW THE
SURFACE, TOGETHER WITH THE RIGHT TO DRILL INTO, THROUGH AND TO
USE AND OCCUPY ALL PARTS OF THE PHASE PARCEL LYING MORE THAN FIVE HUNDRED (500) FEET BELOW THE SURFACE THEREOF FOR ANY AND
ALL PURPOSES INCIDENTAL TO THE EXPLORATION FOR AND THE
PRODUCTION OF OIL, GAS, HYDROCARBON SUBSTANCES OR MINERALS
FROM SAID PHASE PARCEL OR ANY LANDS, BUT WITHOUT, HOWEVER,
ANY RIGHT TO USE EITHER TH SURFACE OF THE PHASE PARCEL OR ANY PORTION THEREOF WITHIN FIVE HUNDRED (500) FEET OF THE SURFACE
FOR ANY PURPOSE OR PURPOSES WHATSOEVER, OR TO USE THE PHASE
PARCEL IN SUCH A MANNER AS TO CREATE A DISTURBANCE TO THE USE
OR ENJOYMENT OF THE PHASE PARCEL, AS RESERVED BY LANDCASTER
HOUSING AUTHORITY, A PUBLIC BODY CORPORATE AND POLITIC, RECORDED MAY 10, 2024 AS INSTRUMENT NO. 20240310222, OF OFFICIAL RECORDS.
PARCEL 2:
NON-EXCLUSIVE VEHICULAR AND PEDESTRIAN ACCESS EASEMENTS AS
CREATED AND DESCRIBED IN THAT CERTAIN DOCUMENT ENTITLED ACCESS EASEMENT AGREEMENT DATED ___________, 2025 AND RECORDED ON _____________, 2025 AS INSTRUMENT NO. _______________ OF OFFICIAL
RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF SAID LOS ANGELES COUNTY.
PARCEL 3:
NON-EXCLUSIVE EASEMENTS FOR OPERATION, VEHICULAR AND
PEDESTRIAN ACCESS, INGRESS AND EGRESS OVER AND ACROSS THE
COMMON AREA, INGRESS AND EGRESS OVER THE COMMON AREA
DESIGNATED FOR PARKING PURPOSES, DRAINAGE, UTILITES AND
Attachment No. 1C
ENCROACHMENT AS CREATED AND DESCRIBED IN THAT CERTAIN
DOCUMENT ENTITLED RECIPROCAL EASEMENT AGREEMENT WITH
COVENANTS CONDITIONS AND RESTRICTIONS DATED __________, 2025 AND RECORDED _________________, 2025 AS INSTRUMENT NO.
______________________ OF OFFICIAL RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF SAID LOS ANGELES COUNTY.
APNs: 3135-001-912, 3135-001-923, 3135-001-925, 3135-001-929, 3135-001-927 (PORTION) AND 3135-001-920 (PORTION)
Attachment No. 1D
ATTACHMENT NO. 1D
DESCRIPTION PHASE 2B PARCEL
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF
LANCASTER, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
PARCEL 1:
LOT 100 OF TRACT NO. 84221 IN THE CITY OF LANCASTER, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 1453 PAGES 1 THROUGH 12 INCLUSIVE, OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
EXCEPTING THEREFROM ALL INTEREST OF GRANTOR IN OIL, GAS,
HYDROCARBON SUBSTANCES AND MINERALS OF EVERY KIND AND
CHARACTER LYING MORE THAN FIVE HUNDED (500) FEET BELOW THE
SURFACE, TOGETHER WITH THE RIGHT TO DRILL INTO, THROUGH AND TO
USE AND OCCUPY ALL PARTS OF THE PHASE PARCEL LYING MORE THAN FIVE HUNDRED (500) FEET BELOW THE SURFACE THEREOF FOR ANY AND
ALL PURPOSES INCIDENTAL TO THE EXPLORATION FOR AND THE
PRODUCTION OF OIL, GAS, HYDROCARBON SUBSTANCES OR MINERALS
FROM SAID PHASE PARCEL OR ANY LANDS, BUT WITHOUT, HOWEVER,
ANY RIGHT TO USE EITHER TH SURFACE OF THE PHASE PARCEL OR ANY PORTION THEREOF WITHIN FIVE HUNDRED (500) FEET OF THE SURFACE
FOR ANY PURPOSE OR PURPOSES WHATSOEVER, OR TO USE THE PHASE
PARCEL IN SUCH A MANNER AS TO CREATE A DISTURBANCE TO THE USE
OR ENJOYMENT OF THE PHASE PARCEL, AS RESERVED BY LANDCASTER
HOUSING AUTHORITY, A PUBLIC BODY CORPORATE AND POLITIC, RECORDED MAY 10, 2024 AS INSTRUMENT NO. 20240310222, OF OFFICIAL RECORDS.
PARCEL 2:
NON-EXCLUSIVE VEHICULAR AND PEDESTRIAN ACCESS EASEMENTS AS
CREATED AND DESCRIBED IN THAT CERTAIN DOCUMENT ENTITLED ACCESS EASEMENT AGREEMENT DATED ___________, 2025 AND RECORDED ON _____________, 2025 AS INSTRUMENT NO. _______________ OF OFFICIAL
RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF SAID LOS ANGELES COUNTY.
PARCEL 3:
NON-EXCLUSIVE EASEMENTS FOR OPERATION, VEHICULAR AND
PEDESTRIAN ACCESS, INGRESS AND EGRESS OVER AND ACROSS THE
COMMON AREA, INGRESS AND EGRESS OVER THE COMMON AREA
DESIGNATED FOR PARKING PURPOSES, DRAINAGE, UTILITES AND
Attachment No. 1D
ENCROACHMENT AS CREATED AND DESCRIBED IN THAT CERTAIN
DOCUMENT ENTITLED RECIPROCAL EASEMENT AGREEMENT WITH
COVENANTS CONDITIONS AND RESTRICTIONS DATED __________, 2025 AND RECORDED _________________, 2025 AS INSTRUMENT NO.
______________________ OF OFFICIAL RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF SAID LOS ANGELES COUNTY.