1995-543113
HRA RESOLUTION NO. 543
RESOLUTION A~NDING CONTRACT FOB PRIVATE
DEV1fLOF~TT (TSIRD A~ND~NT)
WHEREAS, the Housing end Redevelopment Authority in and for the City of
Riohfield (the "HRA") did, on or about~Aprit 29, 1994, execute sad enter into a
contract for private redevelopment ("Contract") with CSM Corporation; and
WHEREAS, it now becomes necessary that oerta'itt provisions of the Coatraet
be amended; and
WHEREAS, the HRA has reviewed the proposed amendaaer~ts and the
reoommeadations of its staff and being fully informed of the requested a®enc~eats,
NOW, THEREFORE., BE YT RESOLVED ~by the AR;A as follows:
1. Article XI of the Contract is hereby amended by eddies the following
new section:
Section 11.8. Separate Transfer. Notwithstandingany other provision
of this Agreement to the contrary, the HRA agrees that upon obtaining
title to and possession of the parcels of land described in the attached
Exhibit F ("11.8 Land") , it wi11 convey the same to the R®developer by
quit claim deed. Such conveyance shall be subject to the fouowing
ooaditioas precedent.
e) R®developer is not in default of any of its
ob]igationg hereunder.
'~ ~~ b) Redev®loper has provid®d th® HRA with security in
a foray end amount aaoeptable to the HRA which
covers say reasonably anticipated casts, expenses
o'r liabilities associated with the eoquisition of the
11.8 Lands .
Such cony®yance shall contain such reservations or undertakings which
in the reasonable discretion of the HRA will assure that i) the existing
Colfax Av®nu® South will remain open for continuous access to the
parcels lying south of the 11.8 Land until access is available by the new
entry constructed in accordance with the approved coaoept plans or,
the parcels lying south of the 11.8 Land era acquired by the
Rede~reloper; and ii) the sew entry, when bt~lt, will be available for
access to the properties lying between Lyadale and Eaaersoa and lying
south of 77th Street.
2. In aA other respects, the Contract as previously amended reat+eutas
unmodified and in full force and effect.
HRA Resolution No. 543
-2-
Adopted by the Housing and Redevelopment Authority in and Par the City of
8iehf~ield this 28th any oP E~b.ruary- , 1995.
ATTEST:
f ~-
~~~
Vern Luetting
Secretary
J
1
~~
HCtY35ING AND AEDEVELC]PMENT
AUT~TORITY IN AND FOR 'rHE
CYTY ICHFIELD
Thomas E. Harms, Chairperson