HomeMy WebLinkAboutResolution No. 5378RESOLUTION NO. 5378
A RESOLUTION AUTHORIZING THE SIGNING OF A LEASE
OR AGREEMENT
THE CITY COUNCIL OF THE CITY OF SAN RAFAEL HEREBY RESOLVES as
follows:
The EXECUTIVE DIRECTOR and AGENCY SECRETARY of the San Rafael
Redevelopment Agency are authorized to execute, on behalf of the Agency,
a Second Amendment to Option with San Rafael Cayes, Inc., a copy of which
is hereby attached and by this reference made a part hereof.
I, JEANNE M. LEONCINI, City Clerk of the City of San Rafael,
hereby certify that the foregoing resolution was duly and regularly intro-
duced and adopted at a regular meeting of the City Council of said City
held on Monday, the seventh day of November, 1977, by the following vote,
to wit:
AYES: COUNCILMEN: Jensen, Miskimen, Mulryan, Nixon and Mayor Bettini
NOES: COUNCILMEN: None
ABSENT: COUNCILMEN: None
, "V_' 41 , �'-
ANNE M. LEONCINI, City Clerk
`' G 1TAL
SECOND AMENDMENT TO OPTION
.This Second Amendment to Option is made as of the thirty-
first day of October, 1977 by and between SAN RAFAEL CAYES,
INC., a California corporation (hereinafter referred to as
"Cayes"), and the SAN RAFAEL REDEVELOPLMENT AGENCY, a
redevelopment agency organized and existing under the laws of
the State of California (hereinafter referred to as "Agency").
This Second Amendment is made with reference to the
following facts:
(a) On or about December 30, 1976, Cayes and Agency ---
entered
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entered into an "Option" pertaining to certain real property
located in the City of San Rafael, County of Marin, State of
California. That Option provided, among other things, that it
would expire on July 1, 1977 unless exercised prior to that
date. The Option further provided that the escrow, through which
the sale transaction was to be completed, was to close no later
than July 1, 1977.
(b) Thereafter, the Option was amended to extend the
term thereof to and including October 31, 1977. The time for
the exercise of the Option and for the closing of the escrow was
also extended to and including October 31, 1977.
(c) Cayes and Agency have agreed to further amend the
Option as hereinafter provided.
IT IS THEREFORE, AGREED:
1. Term of Option. Cayes and Agency hereby agree to
amend Paragraph "2." of the Option to provide as follows: "The
terin of this option shall run through November 30, 1977, and
shall expire on such date if not exercised prior thereto in the
manner hereinafter stated".
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2. Manner of Exercising Option. Cayes and Agency
hereby further agree to amend Paragraph "3." of the Option by the
deletion therefrom of the date "October 31, 1977", and the
substitution therefor of the date "November 30, 1977".
3. Escrow. Cayes and Agency hereby further agree to
amend the last sentence of Paragraph "10." of the Option provide
as follows: "Close of escrow shall occur not later than December
5, 1977."
4. Obligations of Agency. Cayes and Agency hereby
furt'ner agree to amend Subparagraph "(a)" of Paragraph "11." of
the Option to provide as follows: "(a) Installation of a fully
constructed and improved street providing access and connecting
Catalina Boulevard to Bellam Boulevard, of the same width and
quality as at present, the same to be accomplished not later than
December 15, 1979."
5. Other Terms and Conditions. All of the other
------terms and conditions of the Option are not hereby amended, and
the same shall remain in full force and effect.
Dated: October 31, 1977
SAN RAFAEL CAYES, INC. SAN RAFAEL REDEVELOPMENT
AGENCY
h /
l i' . f BY
L.H. Lincoln, Vice President
ATTEST:
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