ATTACHMENT D
ATTACHMENT D
Exhibit 1
EXTENSION OF OPTION TO PURCHASE AGREEMENT
This Extension is made on April 2, 2020, by and between the Stocktonians Taking Action to Neutralize Drugs, a 501 (c)(3) non-profit corporation ("Buyer"), and the CITY OF STOCKTON, a California municipal corporation ("City" or "Seller"), on the terms set forth below:
A. On April 17, 2018, the City Council approved an Option to Purchase Agreement ("Agreement") with Stocktonians Taking Action to Neutralize Drugs for City- owned property at 2222 South Airport Way and 2244 South Airport Way.
B. Buyer intends to construct a health clinic, as well as a combination of office space, public gathering space, affordable housing and/or retail services.
C. On May 10, 2018 Buyer and Seller executed the Option Purchase Agreement for a period of two-years.
D. Agreement expires on May 10, 2020, and Buyer desires to extend it.
E. The Buyer and Seller (together the "Parties") agree to extend the term of the Agreement based on the reasonable progress being made in the development of the site and to allow Buyer additional time to conduct its due diligence.
AMENDMENT
The Option to Purchase Agreement is hereby amended as follows:
1. Pursuant to Section 17, Parties hereby agree that the term of the Agreement shall be extended for an additional three (3) years from the expiration date of the executed Option Agreement, which is May 10, 2020. The three-year extension will expire on May 10, 2023.
2. All other terms and provisions ofthe original Option to Purchase Agreement are unchanged and remain in full force and effect.
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2018-04-17-1104
P
Extensión
ATTACHMENT D
Exhibit 1
3. The undersigned represent and warrant that they are each authorized to execute this Agreement by the party on whose behalf they have signed.
IN WITNESS WHEREOF, the SELLER and BUYER have executed this Amendment as of the date first above written.
SELLER:
CITY OF STOCKTON,
a municipal corporation
HARRYABLAČK, CITY MANAGER
ATTEST:
fimaace
ELIZA R. GARZA, CMC
CITY CLERK
APPROVED AS TO FORM AND CONTENT:
JOHN M. LUEBBERKE
CITY ATTORNEY
Daet Yla1002c
Dated: 4/3/2020
DEPUTY CITY ATTORNEY
BUYER:
Stocktonians Taking Action to Neutralize Drugs
(STAND), a 501 (c)(3) non-profit corporation
a /21/2020
By:7
FRED ŞHÉIL, ADMINÍSTRATOR
Dated: 3-26-2020
ATTACHMENT D