HomeMy WebLinkAboutRDA Res 78-01 1978-01-30
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RESOLUTION NUMBER 7B-~
A RESOLUTION OF THE REDEVELOPMENT AGENCY
OF THE CITY OF SEAL BEACH, CALIFORNIA
APPROVING A FIRST AMENDMENT TO PARTICIPATION
AND DISPOSITION AGREEMENT FOR SEAL BEACH
TRAILER PARK
WHEREAS, a Participation and Disposition Agreement was entered into
between the Agency and Seal Beach Associates dated
July 25, ,1977 for development of the Seal Beach Trailer
Park;
WHEREAS, Seal Beach Associates and Agency have prepared a First
Amendment to the Participation and Disposition Agreement
which would permit assignment of the Agreement, as amended,
to Riverbeach Associates;
WHEREAS, the Agency and Seal Beach Associates have entered into an
Agreement for Purchase and Sale of Real Property dated
Julv 25 , 1977 in order to implement the
Participation and Disposition Agreement which Seal
Beach Associates desires to assign to Riverbeach
Associates;
NOW, THEREFORE, the Redevelopment Agency of the City of Seal Beach
hereby resolves as follows:
Section 1: Agency hereby approves the First Amendment to the
Participation and Disposition Agreement and authorizes
the Executive Director to execute such First Amendment.
Section 2: Agency hereby approves assignment of the Participation
and Disposition Agreement to Riverbeach Associates on
terms provided in the First-Amendment.
Section 3: Agency hereby approves assignment of Agreement for
Purchase -and Sale of Real Property from .
Seal Beach Associates to Riverbeach Associates provided
Seal Beach Associates shall remain liable to Agency
under said Agreement until close of escrow and
Riverbeach Associates takes title to the real property
which is the subject of said Agreement.
Section 4: The Executive Director is hereby authorized to take
all action necessary to carry out such First Amendment
and to take all other actions the Executive Director
deems necessary in carrying out the Participation and
Disposition Agreement, as amended.
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PASSED, APPROVED, AND ADOPTED by the Redevelopment Agency of the City of Seal
Beach, California, at a meeting thereof held on e .:Joy. day of
January, 1978, by the following te:
AYES:
NOES:
ABSENT:
Agency Members
Agency Members
Agency Members
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ATTEST: