HomeMy WebLinkAboutContracts & Agreements_98-2018FIRST AMENDMENT TO RESTATED AGREEMENT FOR THE
PURCHASE AND SALE AND ESCROW INSTRUCTIONS
This FIRST AMENDMENT TO RESTATED AGREEMENT FOR THE PURCHASE
AND SALE AND JOINT ESCROW INSTRUCTIONS ("First Amendment") is inade and
entered as of June 5, 2018 ("First Amendment Effective Date"), by and between the City
of Redlands Successor Agency to the Former Redevelopment Agency of the City of
Redlands ("Seller") and Redlands Food Hall, LP ('Buyer") Seller and Buyei are
sometimes individually referred to herein as a "Party" and, together, as the "Parties "
RECITALS
This First Amendment is executed in contemplation of the following facts and
circumstances
A Seller and Buyer are Parties to that certain Restated Agreement foi the
Purchase and Sale and Escrow Instructions, dated June 6, 2017
("Agreement") It is the intent of the Parties, by this First Amendment, to
amend and modify the Agreement
B It is the intent of the parties that, except as expressly amended of modified by
the provisions and conditions of this First Amendment, all other provisions of
the Agreement shall and will remain in full force and effect
C Capitalized terms used herein shall have the same meanings otherwise
ascribed thereto in the Agreement
In consideration of the mutual promises contained herein, and for such other good
and valuable consideration, the receipt of which is hereby acknowledged, the City of
Redlands Successor Agency to the Former Redevelopment Agency of the City of
Redlands and Redlands Food Hall, LP agree as follows
AGREEMENT
Section I Sub -section 7 1 of the Agreement is hereby amended to read as follows
"71 Escrow shall close ("Closing" or "date of Closing") on or
before December 31, 2018 "
I
I 1ca\djmlAgreements\Redlands Food Hall First Amendment Restated Purchase and Sale Agreement.docx
IN WITNESS WHEREOF, the parties have executed this First Amendment to be
effective as of this 5h day of June, 2018.
SELLER
The City of Redlands Successor Agency
to the former Redevelopment Agency
of the City of Redlands, a political subdivision
of the State of California
BUYER:
Redlands Food Hall, LP, a California
limited liability partnership
By Arteco Management, LLC
Its General Partners
Bir By
Paul W Foster, Chairperson Gerald V Tessier, Manager
ATTEST
Bye�� 06�t'�e�
e0me Donaldson, City Clerk
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11ca1djmlAgreemcntsaedlands Food Hall - First Amendment - Restated Purchase and Sale - Agreement.docx