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75A - CREVIER DEVELOPMENT AGMT.
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75A - CREVIER DEVELOPMENT AGMT.
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Last modified
1/3/2012 5:01:42 PM
Creation date
7/22/2004 4:11:11 PM
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City Clerk
Doc Type
Agenda Packet
Item #
75A
Date
7/19/2004
Destruction Year
2009
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<br />Division 20, Chapter 6.95 (Hazardous Materials Release Response Plans and Inventory), (iv) <br />defined as a "hazardous substance" under Section 25281 of the California Health and Safety <br />Code, Division 20, Chapter 6.7 (Underground Storage of Hazardous Substances), (v) petroleum, <br />(vi) fuable asbestos, (vii) polychlorinated biphenyls, (viii) methyl tertiary butyl ether, (ix) listed <br />under Article 9 or defined as "hazardous" or "extremely hazardous" pursuant to Article II of <br />Title 22 ofthe California Code of Regulations, Division 4, Chapter 20, (x) designated as <br />"hazardous substances" pursuant to Section 311 ofthe Clean Water Act (33 US.C. Section <br />1317), (xi) defined as a "hazardous waste" pursuant to Section 1004 of the Resource <br />Conservation and Recovery Act, 42 US.c. Sections 6901, et seq. (42 U.S.C. Section 6903) or <br />(xii) defined as "hazardous substances" pursuant to Section 101 ofthe Comprehensive <br />Environmental Response, Compensation, and Liability Act, 42 US.C. Section 9601, et seq. <br /> <br />Section 406. <br /> <br />Deeds. <br /> <br />The Agency shall tender title to Parcels A and B to Developer by grant deed, in <br />substantially the fOffil as Attachment No.6 hereto, which is incorporated by this reference as <br />though fully set forth. The deeds shall contain no covenants, conditions or restrictions other than <br />the covenant against discrimination mandated by the Community Redevelopment Law. <br /> <br />Section 407. Condition of Title of Parcels A and B. <br /> <br />Developer shall, at its sole expense, secure ITom First American Title Insurance <br />Company, or another title company mutually agreeable to both parties (the "Title Company"), a <br />standard preliminary title report with respect to title to Parcel A and Parcel B (the "Title <br />Report"), together with legible copies of the documents underlying the exceptions <br />("Exceptions") reflected in the Title Report, within thirty (30) days ITom the date of this DDA. <br />The Developer shall have the right to reasonably approve or disapprove the Exceptions in the <br />Title Report, and other title matters shown on an ALTA survey if obtained by the Developer at <br />its expense; provided, however, that the Developer hereby approves the Redevelopment Plan as <br />of the date hereof as an Exception. <br /> <br />Developer shall have thirty (30) days ITom the date of its receipt of the Title Report and <br />the documents underlying the Exceptions to give written notice to Agency and Escrow Agent of <br />Developer's approval or disapproval of any of such Exceptions set forth in the Title Report and <br />any title matters shown on the ALTA survey, within its reasonable discretion. If Developer <br />notifies Agency of its disapproval of any Exceptions in the Title Report and/or any matters <br />shown on the ALTA survey, Agency shall have the right, but not the obligation, to remove any <br />disapproved Exceptions or disapproved title matters shown on the ALTA survey within thirty <br />(30) days after receiving written notice of Developer's disapproval or provide assurances <br />satisfactory to Developer that such Exception( s) or disapproved title matters will be <br />removed/corrected on or before the Closing. If Agency cannot or does not elect to remove any <br />of the disapproved matters within that period, Developer shall have fifteen (15) days after the <br />expiration of such thirty (30) day period to either give the Agency written notice that Developer <br />elects to proceed with the purchase of the Property subject to the disapproved matters or to give <br />the Agency written notice that the Developer elects to teffilinate this DDA for cause. The <br /> <br />13 <br />
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