HomeMy WebLinkAboutWeston Solutions 2010-05-14; Addendum 1 2010-11-12ADDENDUM TO AGREEMENT FOR DEVELOPMENT AND SALE OF
PROPERTY
This Addendum to the Agreement for the Development and Sale of Property
Agreement"), effective May 14,2010, between the Ukiah Redevelopment Agency
Agency") and Weston Solutions,Inc. ("Weston"), collectively,the"parties,"is entered
on November 12, 2010 ("Effective Date"), by the parties. Terms defined in the
Agreement have the same meaning in this Addendum,unless otherwise indicated.
RECITALS:
1. Under the Agreement Weston has agreed to exercise diligence in completing its
due diligence with respect to the Redevelopment of the Property which includes an
investigation of the existing contamination on the Property.
2. Weston takes the position that it will not expend funds to conduct necessary
onsite investigations of the Property as required by the North Coast Regional Water
Quality Control Board("Regional Board")until the AOC has committed to purchasing a
portion of the Property for the Courthouse.
3. As set forth in Ex. A, attached hereto, Weston has agreed to perform a site
investigation as described in Ex. A for$164,900 ("Site Investigation Cost").
4. The Agency has agreed to advance this expense in order to move the project
forward on condition that Weston reimburse Agency for the Site Investigation Cost, if
Weston purchases the Property from NCRA.
AGREEMENT:
In consideration of the above-recitals and the terms and conditions as stated
below, the parties agree as follows.
1. As part of any escrow opened to purchase the Property from NCRA, Weston
shall execute escrow instructions requiring (1)the deposit of funds in escrow by Weston
to include the Site Investigation Cost in addition to all other funds required to close
escrow and (2)the disbursement by the escrow agent to the Agency of the said Site
Investigation Cost upon close of escrow. If for any reason Weston does not purchase the
Property from NCRA or otherwise participate in the development of the Property,
Weston may retain the Site Investigation Cost in consideration for the value of the
investigation results received by the Agency.
2. This Addendum makes no other changes to the Agreement.
WHEREFORE, this addendum is entered on the Effective Date.
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AGENCY:
UKIAH REDEVELOPMENT AGENCY
By:
Nam ane Chambers
Its: Executive Director
Approved as to Form:
By.
J. Itapport
City Attorney
Weston:
WESTO SOLUTIONS, INC.,a Pennsylvania corporation
By:
N eNiJ . WiAr
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