HomeMy WebLinkAboutContracts & Agreements_50-2019 THIRD AMENDMENT TO RESTATED AGREEMENT F4R THE
PURCHASE AND SALE AND ESCROW INSTRUCTIONS
This THIRD AMENDMENT TO RESTATED AGREEMENT FQR THE PURCHASE
AND SALE AND JOINT ESCROW INSTRUCTIONS ("Third Amendrnent") is inade and
entered as of this 19th day of Marcl�, 2019 ("Third Ainendmei�t Effective Date"), by and
between the City nf Redlands SuccessoX•Agency to the Former Redevelopment Age�icy af t��.e
City o�Redlands {"SeIler") and Redlands Food Hall, LP ("Buyer"). Seller and Buye� are
sometiines individually z-eferred to herein as a "Party" and, together, as the "Parties."
RECITALS
Whercas, Seller and Buyez•l�ave enter�d into that certain Restat�d Agreeinent for tl�.e
Purchase and �ale and Escrow Iizstructions, dated June 6, 2017 {"Agreerment"}, and a first
ame�ldinen�to�he Agreez-nent dated]ui�e S,201 S,a�ld a secozld a�r�end�nent�o the Agreeinent
dated Decezx�ber 18, 20I8; and
Whe�-eas,it is the desire of tlle Parties to a�nend the date far close of escrow presently
s�t fo�fih in the Agree�nent;
Now, therefore, ix� cansideratioi� of tl�e mutual promises contained hereiz�, and far
such other good and val�iable coi�sideratzotl, the receipt of whicl� is laereby acknowledged,
the City of Redlands Successar Agency to the Formear RedeveInpinei�t Agency af the City
of Redla�lds ai�d Redlands Food Hall, LP agr�e as folIaws:
AGREEMENT
Section l. SuUsection 7.I of Sectior� 7 of the Agree�nent which Section is �ntitled
"Closing," is hereby ainended to read as fnllows:
"7.1 Escrow sllall clase ("Closing" or "date of CIosii��") on or before
June 30, 2019."
Sectioz�2. Except�s exp�-essly anle��ded or n�odified by the p�•ovisions and conditions
o�'this Tlurd Ainendirient, il�.e Agreetr�ent shall and will x•eznain in fiill force and ef�ect.
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L:�ca�djm�Agreements�Third Amendment to Restated Agreemen#.Redlands Fooc[ Hal[ LP.docx
IN WITNESS WHEREOF, the parties have executed this Third Ainendment to be
effective as of this 19`h day of March, 2019.
SELLER: BUYER:
The City of Redlands Successor Agency Redlands Food Hall, LP, a California limited
to the former Redevelopment Agency liability partnership
of the City of Redlands, a political subdivision
of the State of California By Arteco Management, LP
Its: General Partners
By� � By: �-
W. Foster, Chaiiperson Gerald V. Tessier, Manager
ATTEST:
By: ��C.�
Je ne Donaldson, City Clerk
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