HomeMy WebLinkAbout00495C - VISTA SUNRISE APARTMENTS LP IMPLEMENTATION AGREEMENT FIRST AMENDMENT TO
IMPLEMENTATION AGREEMENT
This First Amendment to Implementation Agreement ("Amendment") is made and
entered into as of September � , 2005 by and between the Community
Redevelopment Agency of the City of Palm Springs, a public body, corporate and politic
("Agency"), and Vista Sunrise Apartments, L.P., a California limited partnership
("Developer"), with reference to the following recitals of fact:
RECITALS:
A. WHEREAS, the Agency and the Developer have entered into that certain
Restated and Amended Disposition and Development Agreement ("RADDA") dated
February 15, 2005, which provides, among other things, for the construction of 85
affordable housing units pursuant to the terms of the RADDA;
B. WHEREAS, the Agency and the Developer have entered into that certain
Implementation Agreement ("Original Agreement ") dated �A - `6 , 2005, for
purposes of clarifying the parties' understandings of how the RADDA will be
implemented and to make certain non-material revisions to the terms of the RADDA as
more particularly set forth therein;
C. WHEREAS, subsequent to the Agency's approval of the Original
Agreement, the parties have discovered that, in connection with the financing of the
Project, certain additional revisions are required to the terms of the RADDA, which do
not materially affect the Agency's basic financial contribution to the Project or materially
change the Scope of the Project.
D. WHEREAS, the Agency and the Developer now desire to modify the
Original Agreement in accordance with the terms and conditions set forth in this
Amendment. For purposes hereof, the Original Agreement and this Amendment are
collectively referred to as the "Agreement."
NOW THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth and for other good and valuable considerable considerations the
receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Original Agreement. The Agency and the Developer acknowledge that the
Original Agreement is in full force and effect, except as modified by this Amendment.
All capitalized terms not otherwise defined herein shall have the meaning set forth in the
Original Agreement. In the event of any inconsistency between the terms and
conditions set forth in the Original Agreement and the terms and conditions set forth in
this Amendment, the terms and conditions in this Amendment shall control.
2. Unit Change. The Developer has informed the Agency that due to the
escalating costs of construction materials, the Developer was required to redesign the
Project. The Project, as redesigned, shall consists of 80 units rather than 85 units. Of
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LAI4o320695 1
such 80 units, thirty-nine (39) shall be Restricted Units and one (1) shall be a Manager's
Unit. The Units, including the Manager's Unit, shall be composed of 48 studio units and
32 1-bedroom units. The placement of the Restricted Units may float in the Project as
long as a minimum of thirty-nine (39) meet the criteria. All references in the RADDA
and the Original Agreement to 85 units, 41 of which shall be Restricted Units, are not
applicable to the Project.
3. Acquisition of the District Parcel. The Developer has informed the Agency
that the Developer will be acquiring fee simple title to the District Parcel. The Housing
Authority of the County of Riverside (the "Housing Authority") will purchase the District
Parcel from the District, and subsequently the Developer will purchase the District
Property from the Housing Authority pursuant to that certain Disposition and
Development Agreement by and between the Developer and the Housing Authority.
Thus, all references to a long-term lease with the District and/or a sublease of the
(District Parcel from the Housing Authority or the County are not applicable to the
Project.
4. Land Note and Deed of Trust. The $205,000 land contribution note (the
"Land Note") and the deed of trust securing the Land Note (the "Land Deed of Trust")
shall be in the forms attached hereto as Exhibit "A" and Exhibit "B", respectively. The
parties agree that (i) the borrower under the Land Note shall be the Developer; (ii) the
Land Note will be for a term of 45 years; (iii) the Land Note will be repaid solely from
.25% of the Project's Residual Receipts (as defined in the Land Note); and (iv) the
Developer will deliver the Land Deed of Trust to the Agency concurrently with the
Agency's transfer of the Agency Parcel to Developer, however, the Land Deed of Trust
will not be recorded until the deeds of trust for the construction financing for the Project
have been recorded. Notwithstanding the foregoing term, the Land Note shall provide
that if there is an outstanding balance remaining under the Land Note at the end of such
forty-five year term, then upon the written request by the lender under the MHP Loan
(as defined in the Land Note), the Agency may extend the term of the Land Note for a
period not to exceed 10 years for a total of 55 years, or such other similar language as
may be required by the lender under the MHP Loan and approved by the Executive
Director of the Agency.
5. Cash Contribution Note and Deed of Trust. The $1,300,000 cash
contribution note (the "Cash Contribution Note") and the deed of trust securing the Cash
Contribution Note (the "Cash Contribution Deed of Trust") shall be in the forms attached
hereto as Exhibit "C" and Exhibit "D", respectively. The parties agree that (i) 46% of
monthly draw requests shall be funded under the Cash Contribution Note; (ii) the
Agency shall pay, or cause to be paid, any approved disbursements under the Cash
Contribution Note within fifteen (15) business days following the Agency's receipt of the
corresponding Application for Disbursement; (iii) the Cash Contribution Note will be
repaid solely from 1,55% of the Project's Residual Receipts; and (iv) the Cash
Contribution Note will be for a term of 45 years. Notwithstanding the foregoing term, the
Cash Contribution Note shall provide that if there is an outstanding balance remaining
under the Cash Contribution Note at the end of such forty-five year term, then upon the
written request by the lender under the MHP Loan, the Agency may extend the term of
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4A/40320695 1
the Cash Contribution Note for a period not to exceed 10 years for a total of 55 years, or
such other similar language as may be required by the lender under the MHP Loan and
approved by the Executive Director of the Agency.
6. Regulatory Agreement. The Regulatory Agreement is being amended
regarding the above-referenced change in the number of units in the Project and to
provide the Agency's acknowledgement that the other lenders for the Project are also
restricting the same 49% (or lesser percentage) of the units at the Project and that the
most restrictive rents will apply with respect to such units. The Regulatory Agreement
• shall be in the form attached hereto as Exhibit "E".
! 7. Qualified Tax Credit Investor.
1.0 The Agency hereby acknowledges that SunAmerica Housing Fund
1305, A Nevada Limited Partnership ("Sun") is a Qualified Tax Credit Investor, as such
term is defined in Section 222 of the RADDA, and the admission of Sun as a limited
partner of the Developer is a transfer permitted under Section 303(3)(f) of the RADDA.
2.0 The following transfers shall be deemed additional exceptions to
the transfer restrictions contained in Sections 303(1) and (2) of the RADDA: (i) the
pledge by the general partner of Developer to the limited partner of Developer of the
general partner's partnership interests in the Developer pursuant to Developer's limited
partnership agreement, (ii) any transfer of a limited partnership interest in Developer by
the limited partner of Developer to an affiliate of such limited partner, (iii) any transfer of
a partnership interest in the entity that is the limited partner of Developer and (iv) any
transfer of a general partnership interest in Developer to the limited partner of
Developer or to an affiliate thereof in connection with the removal of the general partner
of Developer pursuant to Developer's limited partnership agreement.
3.0 The rights given to holders of mortgages under the RADDA shall
also apply to the limited partner of Developer.
4.0 The Agency acknowledges and agrees that the Hazardous
Materials indemnity contained in Section 409(3) of the RADDA is not applicable to the
limited partner of Developer.
8. Notices. The Developer hereby designates the following persons at the
following addresses as additional notice parties to also receive copies of all notices
delivered to the Developer, including, without limitation, any notices delivered to
Developer under Section 900 of the RADDA:
SunAmerica Housing Fund 1305, A Nevada Limited Partnership
c/o AIG Retirement Services, Inc.
One SunAmerica Center, Century City
Los Angeles, California 90067
Attn: Michael Fowler
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w40320695.1
Coachella Valley AIDS Consortium
1695 North Sunrise Way
Palm Springs CA 92262
Attn: Executive Director
9. Covenant re Senior Housing. In connection with a previously
contemplated development of the Agency Parcel by a different developer, the Agency
adopted Resolutions No. 740 -- 742, pursuant to which the Agency, among other things,
resolved to hold the property as an asset of the Low and Moderate Income Housing
Fund for the development of a congregate care facility for low-income elderly (the
"Senior Restriction"). The Agency agrees that the Senior Restriction does not apply to
the Project. At or prior to the Closing of the Escrow for the conveyance of the Agency
Parcel from Agency to Developer, the Agency shall deliver to Escrow Agent the
documentation reasonably required by the Title Company to remove the Senior
Restriction as an exception to title for the Agency Parcel, including, without limitation,
Agency resolutions confirming that the Senior Restriction does not apply to the Agency
Parcel.
10. No Other Modifications. Except as otherwise provided herein, all other
terms and provisions of the Agreement shall remain in full force and effect, unmodified
by this Amendment.
11. Binding Effect. The provisions of this Amendment shall be binding upon
and inure to the benefit of the heirs, representatives, successors and permitted assigns
of the parties hereto.
12. Counterparts. This Amendment may be executed in any number of
original counterparts. Any such counterpart, when executed, shall constitute an original
of this Amendment, and all such counterparts together shall constitute one and the
same Amendment. For purposes of this Amendment, facsimile signatures shall be
deemed to be originals.
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LN40320695.1
IN WITNESS WHEREOF, this Amendment has been duly executed by the
parties hereto as of the day and year written above.
DEVELOPER:
VISTA SUNRISE APARTMENTS, L.P., a
California limited partnership
By: MBA Urban Development Co.,
a Missouri corporation
Its: Development General Partner
By: r'�
Nam CYrN' rh&coGsrt l�
Title: Age25iyeyl
By: Coachella Valley AIDS Consortium,
a California nonprofit public benefit
corporation
Its: Managing Gener I P er
By:
Name:
Title:
AGENCY:
ATTEST: THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM
f , - SPRINGS, a public body, corporate and
politic
--------- ----
Executive Director
APPRa E S TO
'FORM:
By:
5 Title,
LA/40320$95 1
Vista Sunrise Apartments LP
Restated/Amended DDA
AGREEMENT 00495C
Res. 1281 , 5-18-05
IMPLEMENTATION AGREEMENT
This IMPLEMENTATION AGREEMENT dated MpA � , 2005 is made by and
between the Community Redevelopment Agency of the City U Palm Springs, a public body,
corporate and politic ("Agency"), and Vista Sunrise Apartments, L.P., a California limited
partnership ("Developer") with reference to the following facts and agreements:
WHEREAS, the Agency and the Developer have entered into that certain Restated and
Amended Disposition and Development Agreement ("RADDA") dated Ti l,khich
provides for the construction of 85 affordable housing units pursuant to the terms of the
RADDA; and
WHEREAS, as the parties are beginning the implementation of the terms of the RADDA
and as a result of that endeavor have discovered that certain assumptions concerning financing
requirements and timing of the adjacent health care facility project have necessitated some non-
material revisions for purposes of the Agency in the form of the Promissory Notes and Deeds of
Trust which have to be clarified but which do not affect the Agency's basic financial contribution
to the Project or the Scope of the Project; and
WHEREAS, the County's construction of the adjacent health care facility is lagging
behind the Developer's construction of the housing units which has resulted in the Agency
advancing funds and the City constructing the offsite public improvements pursuant to a Public
Improvement Reimbursement Agreement; and
WHEREAS, the Agency and Developer wish to clarify their understandings of how the
RAIDDA will be implemented by setting forth those understandings in this Implementation
Agreement as follows:
1. Additional Nonprofit Managing General Partner. Pursuant to Section 303(3)(h)
of the RADDA, Developer has notified Agency that it intends to transfer a percentage of the
general partner interest in the Developer entity, Vista Sunrise Apartment, L.P., to the nonprofit
Coachella Valley AIDS Consortium which is an affiliate of Desert AIDS Project. Further, the
title to the Agency Parcel shall be transferred first to the Coachella Valley AIDS Consortium, as
one of the managing general partners of the Developer, and subsequently transferred or leased to
the Developer.
2. Foirn of Notes and Deeds of Trust. In order for the Developer to obtain financing
for the Project, the parties agree that the Agency's contribution to the project will be secured by
two separate Promissory Notes and two Deeds of Trust in place of the form in the RADDA
which contemplated one of each. The entire amount of financial assistance does not change but
the land value contribution of$205,000 will be secured by one Note and Deed of Trust, and the
cash contribution of$1.3 Million Dollars will be secured by a separate Note and Deed of Trust.
The new separate forms will also be revised to reflect a 0% interest rate. The land contribution
note will be revised as to the borrower, will be the Coachella Valley AIDS Consortium, which is
the managing partner of the Developer that the property will be transferred to initially. The cash
contribution note will include a residual receipts calculation.
opuuw 1.8
O1003/0013/39106.02
3. Offsite Public Improvements Construction. The Agency, the City, County
Housing Authority and Developer have agreed by a separate Public Improvement
Reimbursement Agreement, approved by the County on , 2005, that the City will
construct the offsite public improvements rather than the Developer. The Developer shall
contribute the plans for which it has already been reimbursed, but the funds from the Agency
originally designated in the RADDA to be for reimbursement to Developer for construction shall
instead be utilized to reimburse the City for the Developer's share of the Improvement costs. A
copy of the Public Improvement Reimbursement Agreement is attached hereto as Exhibit
4. RADDA Terms and Conditions. The above clarifications and technical
modifications to the implementation of the RADDA are necessary primarily to achieve the
successful financing of the Project and are not believed to be material to the Agency's overall
obligations and assistance pursuant to the RADDA. With the exception of any changes
necessary to effect those items specified herein, all other terms and conditions of the RADDA
shall remain the same.
5. Attorneys Fees. In any action between the parties hereto, seeking enforcement of
any of the terms and provisions of this Agreement or the Escrow, or in connection with the
Property, the prevailing party in such action shall be entitled, to have and to recover from the
other party its reasonable attorney's fees and other reasonable expenses in connection with such
action or proceeding, in addition to its recoverable court costs.
6. Notices. Any notice which either party may desire to give to the other parry or to
the Escrow Holder must be in writing and may be given by personal delivery or by mailing the
salne by registered or certified mail, return receipt requested, to the party to whom the notice is
directed at the address of such party hereinafter set forth, or such other address and to such other
persons as the parties may hereafter designate:
To Developer: Vista Sunrise Apartments, L.P.
c/o McCormack Baron Salazar
801 S. Grand Avenue, Suite 780
Los Angeles, CA 90017-4635
Attn: General Partner
Copy to: Bingham McCutchen LLP
355 S. Grand Ave., Suite 4400
Los Angeles, CA 90071
Attn: Lance Bocarsly, Esq.
To Agency: The Community Redevelopment Agency
of the City of Palm Springs
3200 E. Tahquitz Canyon Way
Palm Springs CA 92263
Attn: Executive Director
Attn: City Manager
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0100310013/39106.02
7. Interpretation; Governing Law. This Agreement shall be construed according to
its fair meaning and as if prepared by both parties hereto. This Agreement shall be construed in
accordance with the laws of the State of California in effect at the time of the execution of this
Agreement. Titles and captions are for convenience only and shall not constitute a portion of this
Agreement. As used in this Agreement, masculine, feminine or neuter gender and the singular or
plural number shall each be deemed to include the others wherever and whenever the context so
dictates.
8. No Waiver. No delay or omission by either party hereto in exercising any right or
power accruing upon the compliance or failure of performance by the other party hereto under
the provisions of this Agreement shall impair any such right or power or be construed to be a
waiver thereof. A waiver by either party hereto of a breach of any of the covenants, conditions or
agreements hereof to be performed by the other party shall not be construed as a waiver of any
succeeding breach of the same or other covenants, agreements, restrictions or conditions hereof.
9. Modifications. Any alteration, change or modification of or to this Agreement, in
order to become effective, shall be made by written instrument or endorsement thereon and in
each such instance executed on behalf of each party hereto.
10. Severability. If any term, provision, condition or covenant of this Agreement or
the application thereof to any party or circumstances shall, to any extent, be held invalid or
unenforceable, the remainder of this instrument, or the application of such term, provisions,
condition or covenant to persons or circumstances other than those as to whom or which it is
held invalid or unenforceable, shall not be affected thereby, and each term and provision of this
Agreement shall be valid and enforceable to the fullest extent permitted by law.
11. Execution in Counterparts. This Agreement may be executed in several
counterparts, and all so executed shall constitute one agreement binding on all parties hereto,
notwithstanding that all parties are not signatories to the original or the same counterpart.
[END - SIGNATURE PAGE]FOLLOWS]
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01003/0013/39106.01
IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their
respective duly authorized representatives, all as of the date first above written.
THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS
a public body, corporate and politic
ATTEST: _ By -� r.'' ,-
Executive Director
gency Secretary /27051'?ov
n ^
APPR VED'AS TO FORM:
Agencypecfal Counsel
VISTA SUNE APARTMENTS,L.P.
a Califol im ted partnership
By:
Au orized ignatory
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01003/0013/39106.02
EXHIBIT A
PUBLIC INIPROVEMENT RE MMIRSEMENT AGREEMENT
THIS PUBLIC IMPROVEMENT REIMBURSEMENT AGREEMENT is dated as of
9 1.9/0-55 by and between THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, a public body, corporate and politic(the "Agency"), THI~CITY OF
PALM SPRINGS, a chartered municipal corporation organized and existing under the laws of
the State of California (the "City"), THE HOUSING AUTHORITY OF THE COUNTY OF
RIVERSIDE, existing pursuant to Health and Safety Code § 34200 et, seq. (the "Housing
Authority") and VISTA SUNRISE APARTMENTS, L.P., a California limited partnership (the
"Developer"),
RECITALS
WHEREAS, Developer and the Agency entered into that certain Restated and Amended
Disposition and Development Agreement (the "RADDA") dated q 3 05 which provides
Agency financial assistance and property for affordable housing uni s for the project as described
in the RADDA("Project"), and
WHEREAS, the Housing Authority entered into a long-term lease agreement with the
Desert Health Care District with respect to that certain real property described on the Exhibit
"A" attached hereto (the "District Property"), which lease also included an option in favor of the
Housing Authority to purchase the District Property; and
WHEREAS, the Housing Authority has or intends to exercise its option to purchase the
District Property and upon doing so, and the Housing Authority intends to sell a portion of the
District Property to Developer for the Project, and Housing Authority will develop the remainder
of the District Property with a health care facility; and
WHEREAS, the Project was originally approved by the City, pursuant to its planning
requirements, as part of a larger project which included a health care facility and the design for
the site plan included the otI$ite public improvement requirements described in Exhibit "B" (the
"Improvements") which were necessitated by and benefited both the affordable housing and the
health care facility components of the overall project; and
WHEREAS, the RADDA contemplated that One Hundred Twenty-Five Thousand
Dollars(S 125,000)of the Agency financial assistance to the Developer would be held as a Public
Improvement Reserve which would be used to construct the Improvements; and
WHEREAS, the additional One Hundred Twenty-Five Thousand Dollars ($125,000)
needed to complete the Improvements is agreed by all parties to be the responsibility of the
health care facility portion of the project, and the Housing Authority, as the Lessee of the long-
term lease for that parcel, will receive the benefit of its share of the Improvements, but will not
contribute its share of the costs for the Improvements until such time as the health care facility is
to be constructed; and
WHEREAS, the City has agreed to construct the Improvements as a public works project;
and
0100310013138946.04
WHEREAS, the Agency and the City have agreed that while the Developer's
responsibility for the housing Project includes one half of the cost of the .Improvements which
was to be provided as part of the Agency assistance to the Developer's Project in the RADDA,
due to the proposed transfer of responsibility for construction of the Improvements to the City,
the funds allocated by the Agency to reimburse the Developer shall be paid directly to the City
with the exception of the reimbursement to Developer for the plans already obtained. Therefore,
the Developer shall deliver to the City the civil engineering design plans prepared by DMC
Design Group (the "Plans") for the Improvements and the Agency shall use all of the funds
remaining in the Public Improvement Reserve of the RADDA after reimbursement to the
Developer for the costs incurred by the Developer in connection with the flans to pay for the
Mousing Project's portion of the Improvements; and
WHEREAS, the Agency has agreed to advance the Housing Authority's portion of the
costs of the Improvements in order to allow the Improvements to be constructed by the City in a
timely fashion for the Project; and
WIIEEREAS,pursuant to Health and Safety Code Section 33445, the Agency and the City
have determined that the Agency funds being advanced for the Improvements are of benefit to
the project area in which the Improvements are located, that no other reasonable means of
financing the Improvements are available until the Housing Authority reimburses the Agency for
the Rousing Authority's portion of the costs of the improvements, and that the construction of
the Improvements will assist in eliminating a blighting condition and allow the affordable
housing unit project to proceed.
NOW THEREFORE,in consideration of the foregoing findings and facts and the mutual
agreements and covenants set forth hereafter, the parties hereto agree as follows:
1. Developer Responsibility. Developer shall provide the Plans to the City, and the
City will bid the construction of the Improvements as a public works project according to the
City's standard procedure. The City will construct the Improvements provided that the
Developer permits the City to use all of the funds provided by the Agency remaining in the
Public Improvement Reserve after reimbursement to the Developer for the costs incurred by the
Developer in connection with the Plans.
2. Agency Fund Advancement. Agency shall provide the upfront funding for the
actual construction costs incurred by the City for the housing Authority's portion of the
Improvements which are estimated to be One Hundred Twenty-Five Thousand Dollars
($125,000).
3. Housing Authority Reimbursement_ Provided the Dousing Authority does, in
fact, acquire the District Property and thereafter sell a portion of said District Property to
Developer for the Project,then the housing Authority shall reimburse the Agency for one half of
the costs of the construction of the Improvements, but in any event not to exceed One Hundred
Twenty-Five Thousand Dollars ($125,000) at the later of(i) the completion of the construction
of the Improvements, or (ii) the initiation of construction for the health care facility (either
grading or building permit issuance)-
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0100310013/3884r,,04
4. Construction of the Improvements by the Citv. The City shall commence
construction of the Improvements concurrent with the Developer's commencement of
construction of the Project. In the event that the construction of the Improvements has not been
completed by the date that the Project is completed, the Agency and the City agree to assist the
Developer in obtaining a certificate of occupancy for the Project.
5. Attorneys Fees. In any action between the parties hereto, seeking enforcement of
any of the terms and provisions of this Agreement or the Escrow, or in connection with the
Properly, the prevailing party in such action shall be entitled, to have and to recover from the
other parry its reasonable attorney's fees and other reasonable expenses in connection with such
action or proceeding, in addition to its recoverable court costs.
6. Notices. Any notice which either party may desire to give to the other party or to
the Escrow Holder must be in writing and may be given by personal delivery or by mailing the
same by registered or certified mail, return receipt requested, to the party to whom the notice is
directed at the address of such party hereinafter set forth, or such other address and to such other
persons as the parties may hereafter designate:
To Developer: Vista Sunrise Apartments,L-P_
c/o McCormack Baron Salazar
801 S. Grand Avenue, Suite 780
Los Angeles, CA 90017-4635
Attn: General Partner
Copy to: Bingham McCutchen LLP
355 S. Grand Ave., Suite 4400
Los Angeles, CA 90071
Atm: Lance Bocarsly,Esq.
To Agency: The Community Redevelopment Agency
of the City of Palm Springs
3200 E. Tahquitz Canyon Way
Palm Springs CA 92263
Attn: Executive Director
To City: The City of Palm Springs
3200 E. Tahquitz Canyon Way
Palm Springs CA 92263
Attn: City Manager
To: Housing Authority The Housing Authority of the County
of Riverside
Attn:
3
01003/0013/38W.04
Copy To: Emily Perri Hemphill,Esq.
Ealy, Hemphill,Blasdel, &Oleson,LLP
777 E. TahgWtz Canyon Way
Suite 328
Palm Springs, California 92262
7. Interpretation: GoveminF4 Law. This Agreement shall be construed according to
its fair meaning and as if prepared by both parties hereto. This Agreement shall be construed in
accordance with the laws of the State of California in effect at the time of the execution of this
Agreement. Titles and captions are for convenience only and shall not constitute a portion of this
Agreement. As used in this Agreement, masculine, feminine or neuter gender and the singular or
plural number shall each be deemed to include the others wherever and whenever the context so
dictates,
8, No Waiver. No delay or omission by either party hereto in exercising any right or
power accruing upon the compliance or failure of performance by the other party hereto under
the provisions of this Agreement shall impair any such right or power or be construed to be a
waiver thereof. A waiver by either party hereto of a breach of any of the covenants, conditions or
agreements hereof to be performed by the other party shall not be construed as a waiver of any
succeeding breach of the same or other covenants, agreements,restrictions or conditions hereof.
9. Modifications. Any alteration, change or modification of or to this Agreement, in
order to become effective, shall be made by written instrument or endorsement thereon and in
each such instance executed on behalf of each party hereto.
10. Sevembility. If any term, provision, condition or covenant of this Agreement or
the application thereof to any party or circumstances shall, to any extent, be held invalid or
unenforceable, the remainder of this instrument, or the application of such term, provisions,
condition or covenant to persons or circumstances other than those as to whom or which it is
held invalid or unenforceable, shall not be aft'ected thereby, and each term and provision of this
Agreement shall be valid and enforceable to the fullest extent permitted by law.
11, Execution in Counterparts. This Agreement may be executed in several
counterparts, and all so executed shall constitute one agreement binding on all parties hereto,
notwithstanding that all parties are not signatories to the original or the same counterpart.
[END - SIGNATURE PAGE FOLLOWS]
4
0100310013/3$845.04
IN WITNESS WHEREOF, the parties hereto have executed this Agreement by their
respective duly authorized representatives, all as of the date first above written.
THE COMMUNITY REDEVELOPMENT
AGENCY OF TIRE CITY OF PALM SPRINGS
Executive Director
ATTEST:
I
mpson Agency Secretary
DTho
:
Agency Special ounsel
CITY OF PALM SPW NGS
David Ready, City Manama
ATTEST:
4; ; APPROVED BY Cff Y COUNCIL
4mes Thompson, City Cie&t Lks to� r�
ROVED AS TO FORM:
By:—A" �� �j.?�,( (e yCt �e,y Lt1 tiv aQ--
Agency Special C uneil
FORM APPROVED TK' HOUSING AUTHORITY OF THE
COUNTY COUNSEL COUNTY OF.RIVERSIDE
SEP a 2 2005 By:
gy Authoriz Representative --
Cour+n COUNSEL VISTA
Ashley
VISTA SiJDTI SE APARTMENTS, L.P.
BY: ? i
Aut riz IZRepresegi ive
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RIVD?SIOE CCUATY, cAGIF
ocriissa
L'NTIIL3IT 11131,
(VISTA. CHINO AND SUNRISE IMPROVEMENTS)
PER THE CONDITIONS OF APPROVAL
ENGrNE)rRING
Before final acceptance of the project, all conditions listed below shall be completed to the
satisfaction of the City Engineer.
STREETS
I. Any improvements within the street right-of-way require a City of Palm Springs
Encroachment Permit. Work shall be allowed according to Resolution 17950 -Restricting
Street Work on Major and Secondary Thoroughfares.
2, Obtain State permits and approval of plans for all work done on State Highway I I I
(EAST VISTA CHINO ROAD). A copy of Caltrans requirements shall be submitted to
the City Engineer prior to the issuance of any grading or building permits. Work shall be
coordinated with the Engineering Department pertaining to City of Palm Springs
Resolution 17950 -Restricting Street Work on Major and Secondary Thoroughfares.
3. Submit street improvement plans prepared by a Registered Civil Engineer to the
Engineering Department. The plan(s) shall be approved by the City Engineer prior to
issuance of any grading or building permits.
Minimum submittal shall include the following, IF applicable.-
A. Copy of signed Conditions of Approval from Planning Department.
B. All agreements and improvement plans approved by City Engineer, IF applicable.
C. Proof of processing dedications of right-of-way, easements, encroachment
agreements/licenses, covenants, reimbursement agreements, etc. required by these
conditions.
NORTH SUNRISE WAY
4. Construct minimum 24 feet wide driveway approaches in accordance with City of Palm
Springs Standard Drawing No. 201.
5. All broken or off grade CURB, GUTTER, SIDEWALK, CURB RAMPS, SOUTH
DRIVEWAY APPROACH, CROSS GUTTER, SPANDREL AND AC PAVEMENT
shall be repaired or replaced.
EAST VISTA.CHINO ROAD
6. Remove the existing 8 inch curb and gutter located 32 feet SOUTH of centerline and at
the roadway taper east of the bus turnout and replace with 8 inch curb and gutter located
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43 feet SOUTH of centerline along the entire frontage east of the bus turnout, with a 35
foot radius curb return and spandrel at the SOUTHWEST corner of the intersection of
EAST VISTA CHINO ROAD and NORTH SUNRISE WAY per City of Palm Springs
Standard Drawing No. 200 and 206.
7_ Remove the existing cross gutter and construct the WEST half of an S feet wide cross
gutter at the southwest corner of the intersection of EAST VISTA CHINO ROAD and
NORTH SUNRISE WAY with a flow line parallel with and 43 feet SOUTH of the
centerline of EAST VISTA C141NO ROAD in accordance with City of Palm Springs
Standard Drawing No. 200 and 206_
S. Remove the existing catch basin at the southwest corner of the intersection of EAST
VISTA CHINO ROAD and NORTH SUNRISE WAY and reconstruct 43 feet SOUTH of
the centerline of EAST VISTA CHINO ROAD.
9_ The existing driveway approach located west of the southwest corner of the intersection
of East Vista Chino Road and North Sunrise Way shall be removed and closed off to
eliminate vehicular access onto East Vista Chino Road_
10. Remove the existing 8 feet wide sidewalk and construct a 12 feet wide combination
sidewalk and bicycle path adjacent to the curb along the entire frontage. The bicycle path
shall be constructed of colored Portland cement concrete. The admixture shall be Desert
Sand, Palm Springs Tan, or approved equal color by the Engineering Division. The
concrete shall receive a broom finish.
11. All broken or off grade CURB, GUTTER, DRIVEWAY APPROACHES, CROSS
GUTTER, SPANDREL, BUS TURNOUT, AND AC PAVEMENT shall be repaired or
replaced.
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