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Item 09 - First Amendment to THRIVE DDA & Consent to Assignment of Leases & Rents Authorization
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06/07/2022 Regular & HA
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Item 09 - First Amendment to THRIVE DDA & Consent to Assignment of Leases & Rents Authorization
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8/15/2023 10:25:08 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Clerk of the Council
Item #
9
Date
6/7/2022
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EXHIBIT 1 <br /> 2 <br />the Limitations detailed in section 3.3.2 shall not apply to the Soil Remediation. Otherwise, <br />while conducting Soil Remediation on the Property, Developer shall be required to provide <br />Indemnity and Insurance, deliver a Completion Notice to the City, accept the Property “As- <br />Is,” and comply with all other terms and conditions found in Sections 3.3.1 through 3.3.6. <br /> <br />4. Exhibit E, Ground Lease Section 2.7, Option to Purchase, shall be amended to prohibit <br />the exercise of the Option to Purchase by any party other than the original Tenant, THRIVE <br />Santa Ana, Inc. Specifically, if any bank or other third party acquires the leasehold rights <br />from Tenant through foreclosure, assignment, or any other means, this Option to Purchase <br />shall be void and removed from the Ground Lease. <br /> <br />5. Except as modified by this First Amendment, all terms and conditions of the DDA shall <br />remain in full force and effect. <br /> <br /> <br />{signatures on following page} <br /> <br />
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