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CARIBOU INDUSTRIES-2018
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CARIBOU INDUSTRIES-2018
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Last modified
2/26/2018 4:26:38 PM
Creation date
2/20/2018 9:47:52 AM
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Contracts
Company Name
CARIBOU INDUSTRIES
Contract #
A-2018-002
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
1/16/2018
Expiration Date
7/31/2018
Destruction Year
2023
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INSURANCE: NOT REQUIRED <br />WORK MAY PROCEED <br />CLERK 01Y COUNCIL <br />A-2018-002 <br />FEB 0.5 2019 <br />SECChND AMENDED AND RESTATED <br />EXCLUSIVE NEGOTIATION AGREEMENT <br />oA l) <br />T� 1 e� This Second Amended and Restated Exclusive Negotiation Agreement ("Agreement") is <br />dated lfit j* , 2018, for reference purposes only, and is entered into by and among <br />the CITY OF SANTA ANA, a California charter city in the County of Orange of the State of <br />California ("City"), and CARIBOU INDUSTRIES, INC., a Nevada Corporation ("Developer"), <br />in order to provide a specified period of time to attempt to negotiate a disposition and development <br />agreement ("DDA"). City and Developer are sometimes referred to in this Agreement <br />individually, as a "Party" and, collectively, as the "Parties." This Agreement is entered into by <br />the Parties with reference to the following recited facts (each, a "Recital"): <br />RECITALS <br />WHEREAS, the intent of the Parties in entering into this Agreement is to establish a <br />specific, limited period of time to negotiate regarding a future agreement among them governing <br />the potential acquisition and development of certain real property, subject to mutually agreeable <br />terms, conditions, covenants, restrictions and agreements to be negotiated and documented in a <br />future DDA; and <br />WHEREAS, the property contemplated is located at 201 West Third Street, Santa Ana, <br />California 92701 (APN 398-264-13) ("Property"); and <br />WHEREAS, City owns the Property; and <br />WHEREAS, the Property is more particularly described in the legal description attached <br />to this Agreement as Exhibit "A" and incorporated into this Agreement by this reference; and <br />WHEREAS, Developer proposes to develop a mixed use project, including a hotel, <br />conunercial, retail, residential, and public parking, on the Property ("Project"); and <br />WHEREAS, the Parties now agree to enter into this Agreement for the purpose of further <br />planning and evaluating the feasibility of the proposed Project, including further negotiation of <br />deal points and environmental review of the projects in preparation for the DDA; and <br />WHEREAS, the Developer has represented its willingness and ability to undertake certain <br />studies, plans and other activities necessary to define the scope of development and determine the <br />feasibility of the Project on the Property and that such plans and other information to be prepared <br />during the course of this Agreement shall serve as the basis for entering into a DDA among City <br />and Developer; and <br />WHEREAS, City is willing to continue the period of exclusive negotiations with <br />Developer concerning Developer's potential development of the Project, subject to the terms and <br />conditions of this Agreement. <br />
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