Laserfiche WebLink
<br />" <br /> <br />.'. <br /> <br />RECITALS <br /> <br />1. The parties hereto entered into an Agreement (Document No. 015491) on March 25, <br />2003. Said Agreement defined the terms and conditions of a project consisting of <br />acquiring and financing right of way and developing and constructing a Scenic <br />Enhancement near Interstate 5 on Patricia Lane in the City of Santa Ana, referred to <br />herein as "PROJECT". <br /> <br />2. As part of PROJECT, CITY will acquire eight (8) pieces of real property from STATE, <br />referred to hereafter as the "PROPERTIES", which are more particularly described in <br />Exhibit "CO, attached to and made a part of this Amendment. The total fair market <br />value of those PROPERTIES was determined to be $376,790 on November 14, 2003. <br />STATE will contribute STATE's 69% proportionate interest in PROPERTIES, a value of <br />$259,985, to CITY for PROJECT, hereinafter referred to as "PROPERTY VALUE <br />CONTRIBUTION". Further, STATE's PROPERTY VALUE CONTRIBUTION to CITY for <br />PROJECT is above and beyond the $439,000 of STATE-managed TEA funds for <br />PROJECT. <br /> <br />3. The original Agreement (Document No. 015491) sets STATE's total PROJECT obligation <br />at $533,000 and it has been determined that STATE's total PROJECT obligation has <br />been changed. STATE will now provide to CITY for PROJECT up to $439,000 in STATE- <br />managed TEA funds and STATE's PROPERTY VALUE CONTRIBUTION. <br /> <br />4. The purpose of this Amendment is to acknowledge STATE's PROPERTY VALUE <br />CONTRIBUTION, to decrease the STATE -managed TEA fund amount (which excludes <br />STATE's PROPERTY VALUE CONTRIBUTION) for PROJECT from $533,000 to $439,000, <br />and to redistribute that amount to Capital Right of Way Acquisition, Preliminary <br /> <br />Engineering, Construction Engineering and Capital Construction shown in revised <br /> <br />Exhibit B, dated January, 30, 2004, attached to and made a part of this Amendment, <br /> <br />superseding Exhibit B shown in the original Agreement. <br /> <br />IT IS THEREFORE MUTUALLY AGREED: <br /> <br />1. Article 4 of Recitals section of the original Agreement (Document No. 015491) is hereby <br /> <br />amended by deleting the paragraph in its entirety and replacing it with the following new <br /> <br />paragraph: <br /> <br />015481 <br />