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CARIBOU INDUSTRIES (7)
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CARIBOU INDUSTRIES (7)
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Last modified
2/12/2021 9:42:56 AM
Creation date
1/27/2021 12:11:50 PM
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Contracts
Company Name
CARIBOU INDUSTRIES
Contract #
A-2020-265
Agency
Community Development
Council Approval Date
11/17/2020
Insurance Exp Date
3/1/2021
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(a) All Insurance Documents; <br />(b) Any covenants, conditions or restrictions proposed for the Property; <br />and <br />3.5.2 City Approval. Within thirty (30) calendar days after the City receives any <br />item required to be delivered to the City by the Developer pursuant to Section 3.1, the City shall <br />Notify the Developer whether or not such submitted matter is reasonably acceptable to the City. <br />Any Notice from the City stating that a particular submitted matter is not acceptable to the City <br />shall also state the actions that the City reasonably believes are required to make such matter <br />acceptable to the City. Within thirty (30) calendar days after receipt of any Notice from the City <br />stating that a submitted matter is not acceptable to the City, the Developer shall appropriately <br />revise any matter disapproved by the City in a manner intended in good faith to obtain the City's <br />approval of such matter and re -submit such matter to the City for approval. The process applicable <br />to the City's consideration of the initial submittal of any matter shall apply to any re -submittal of <br />such matter, following its disapproval by the City. If the City fails to Notify the Developer that it <br />does not approve of any submitted matter within the requisite thirty (30) calendar period, then the <br />City shall be deemed to have approved such matter. <br />3.6 City Relocation Assistance. <br />3.6.1 Relocation. The Property currently has a public parking structure. The City <br />currently sells monthly parking passes, and thirty (30) parking spaces are leased to California State <br />University, Fullerton Foundation. The lease with California State University, Fullerton <br />Foundation is set to expire on December 31, 2028. The City will work with California State <br />University, Fullerton Foundation to relocate the thirty (30) leased parking spaces. If the relocation <br />cannot be accomplished the Developer will accommodate the lease as part of the 211 public <br />parking spaces. The City has no known relocation and related obligations. Notwithstanding the <br />foregoing, as between the City and the Developer, the City shall be responsible, at its sole cost and <br />expense, for any and all relocation and related expenses attributable to the relocation of the <br />occupants of the Property, if any. The City shall defend, indemnify and hold the Developer and <br />its officers, employees, agents, attorneys, and contractors harmless from and against all liability <br />for any relocation and related expenses attributable to the development of the Property and the <br />relocation of its previous occupants. <br />ARTICLE 4 <br />JOINT ESCROW INSTRUCTIONS <br />4.1 Opening of Escrow. The City and the Developer shall cause the Escrow to be <br />opened no later than January 1, 2021. The Escrow Agent shall promptly confirm the Escrow <br />Opening Date in writing to each of the Parties. The Escrow Closing Date shall be on or before <br />September 30, 2022 unless the Escrow Closing Date is extended as provided in this Agreement. <br />This ARTICLE 4 shall constitute the joint escrow instructions of the City and the Developer to the <br />Escrow Agent for conducting of the Escrow. <br />19 <br />5 53 94.00049\3 323920 3.12 <br />
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