THIRD AMENDMENT TO
REIMBURSEMENT AGREEMENT
BETWEEN THE CITY OF REDONDO BEACH
AND CATALINA FUND LLC
THIS THIRD AMENDMENT (‘Third Amendment”) is made between the City of Redondo Beach, a Chartered Municipal Corporation (“City”) and CATALINA FUND LLC, a California Limited Liability Company (“CATALINA FUND”).
WHEREAS, on August 20, 2019, the parties hereto originally entered into that certain Reimbursement Agreement between the City and CATALINA FUND (‘Agreement’) to reimburse the City for the costs associated with the environmental review and the associated legal review for the project located at 100-132 North Catalina Avenue; and
WHEREAS, on February 2, 2021, the parties hereto entered into a First Amendment (“First Amendment”) to the Agreement to increase the reimbursable amounts; and
WHEREAS, on March 1, 2022, the parties hereto entered into a Second Amendment (“Second Amendment”) to the Agreement to increase the reimbursable amounts; and
WHEREAS, City and CATALINA FUND desire to amend the Agreement pursuant to the terms and conditions set forth herein.
NOW, THEREFORE, the parties hereby agree to make the following amendments to the Agreement:
1. Section 3 Environmental Review; Consultants; Payments: Sections 3D, 3E, and 3F are hereby amended as follows:
Section 3D: “The maximum reimbursement amount CATALINA FUND agrees to pay under this Agreement shall be $257,474.
Section F shall be further amended to state, “Within 14 days after the Effective Date of this amended agreement, CATALINA FUND shall make a payment of $17,891 to City as a full advance on City's costs and fees for the environmental review by Consultants ("Advance").” This amount reflects the previous payments of $239,583 received under the initial agreement, first amendment, and second amendment.”
Section 3E: Exhibit A attached to the Agreement is hereby replaced in its entirety with the following:
SUMMARY OF REIMBURSABLE COSTS
Section 3F: “Within 14 days after the Effective Date of the Third Amendment, CATALINA FUND shall make a payment of $17,891 to City as a full advance on City's costs and fees for the environmental review by Consultants ("Advance").” This amount reflects the previous payments of $239,583 received under the Agreement, First Amendment, and Second Amendment.”
2. Modification. Except as expressly set forth herein, the Agreement shall continue in full force and effect. The Agreement together with this Third Amendment and First Amendment constitute the entire agreement between the parties and supersedes any previous oral or written agreement. In the event of any inconsistency between this Third Amendment, the First Amendment and the Agreement the terms of this Third Amendment shall prevail. This Third Amendment may be modified or amended only by a subsequent writing executed by all of the parties and approved by the City Council. [SIGNATURES ON FOLLOWING PAGE]
SERVICE PROVIDER OF
SERVICE
COST OF
SERVICE
Preparation of
Environmental Impact
Report (EIR) and Traffic
Study
Rincon Consultants, Inc. $ 211,749
CEQA and Land Use Legal
Counsel Best & Krieger $45,725
Total Reimbursable
Costs $ 257,474
IN WITNESS WHEREOF, the parties hereto have entered into this Third Amendment as of this 5th day of July, 2022.
CITY OF REDONDO BEACH CATALINA FUND, LLC
A California Limited Liability Company
______________________________ By: _____________________________ William C. Brand, Mayor Name: __________________________ Title: ___________________________
APPROVED AS TO FORM:
Michael W. Webb, City Attorney
APPROVED:
_______________________________
Diane Strickfaden, Risk Manager
ATTEST:
________________________________
Eleanor Manzano, City Clerk