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<br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />8 <br /> <br />RESOLUTION NO. 89-4 <br />PAGE TWO <br /> <br />from the Agency a Certificate of Completion for Parcel 4, so that <br />the Existing Agreement continues in effect only with regard to <br />Parcel 5; and <br /> <br />WHEREAS, J. R. Wood now desires to assign his rights <br />under the Existing Agreement with regard to ParcelS to James <br />W. Connor for development of said parcel as a Jeep-Eagle dealer- <br />ship; and <br /> <br />WHEREAS, the Agency is willing to consent to such assign- <br />ment provided that James W. Connor agrees to an amendment of the <br />Existing Agreement in certain particulars, including the elimi- <br />nation of its lease option provision, and that the Agency receives <br />$70,000 representing the agreed-upon amount of rent due to Agency <br />for lease of the Property; and <br /> <br />WHEREAS, an amended agreement regarding the disposition <br />and development of ParcelS enti tied" Amended Dispos i tion and <br />Development Agreement," incorporating the amendments desired by <br />the Agency, has been executed by James W. Connor and submitted <br />for approval by the Agency; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDE- <br />VELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: <br /> <br />1. The Agency hereby consents to the assignment and dele- <br />gation by J.R. Wood of his rights and obligations under the Exist- <br />ing Agreement to James W. Connor on the following conditions: <br /> <br />(a) James W. Connor shall agree to assume said rights <br />and obligations; and <br /> <br />(b) Such assignment shall not become effective until <br />such time as the Agency receives $70,000, representing the <br />agreed-upon amount of rent due to the Agency for lease by <br />J.R. wood of ParcelS. <br /> <br />The Chairman is authorized to evidence the Agency's consent <br />by his signature on such document as may be approved as to <br />form by the Agency's legal counsel as providing for such <br />assignment, delegation and assumption of rights and obli- <br />gations under said agreement. <br /> <br />2. The abovesaid "Amended Disposition and Development <br />Agreement" between the Agency and James W. Connor is hereby <br />approved and the Chairman is authorized to execute the same on <br />behalf of the Agency. <br /> <br />SA <br /> <br />) 3 <br />