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EXHIBIT ‘A’
RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
CITY CLERK
CITY OF RANCHO PALOS VERDES
30940 Hawthorne Boulevard
Rancho Palos Verdes, CA 90275-5391
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AMENDMENT NO. 6 TO TRUMP NATIONAL DEVELOPMENT AGREEMENT
(Pursuant to California Government Code Section 65868)
THIS AMENDMENT NO. 6 TO TRUMP NATIONAL DEVELOPMENT AGREEMENT (“Fourth Amendment”) is entered into this 21st day of October 2008 by and between VH Property Corp., a Delaware corporation (“Developer”), and the City of Rancho Palos Verdes, a municipal corporation organized under the laws of the State of California (the “City”).
RECITALS
A. Palos Verdes Land Holdings Company, L.P., a California limited partnership, and the Zuckerman Entities (as defined in the Agreement), as predecessors in interest to Developer, and City entered into that certain Development Agreement (the “Original Agreement”) dated as of November 20, 1997, and recorded on December 8, 1997, as Instrument No. 97-1929840 in the Official Records of Los Angeles County, California, as amended by that certain Amendment to Ocean Trails Development Agreement (the “First Amendment”), dated as of September 18, 2001, and recorded on December 3, 2001 as Instrument No. 01-2301342 in the Official Records of Los Angeles County, California, and as further amended by that certain Amendment No. 2 to Ocean Trails Development Agreement (the “Second Amendment”), dated as of March 4, 2003, and recorded as Instrument No. 03-1139102 in the Official Records of Los Angeles County, California, and as further amended by that certain Amendment No. 3 to the Ocean Trails Development Agreement (the “Third Amendment”), approved on November 20, 2007, and as further amended by that certain Amendment No. 4 to the Ocean Trails Development Agreement (the “Fourth Amendment”), approved on March 4, 2008, and as further amended by that certain Amendment No. 5 to the Ocean Trails Development Agreement (the “Fifth Amendment”), approved on July 15, 2008, (referred to collectively with the Original Agreement, as the “Agreement”), pursuant to which Developer has certain vested rights to develop that certain real property described and/or depicted on Exhibit A attached hereto (the “Property”). Except as expressly stated to the contrary, all capitalized terms set forth herein shall have the same meaning as set forth in the Agreement.
B. City previously approved Tentative Tract Map No. 50666 and Tentative Tract Map No. 50667 regarding the Property and subsequently approved certain amendments thereto.
C. Final Tract Map No. 50667 was previously recorded as Instrument No. 99-1934089 in the Office of the County Recorder of Los Angeles County, California, on October 12, 1999.
D. Both parties wish to extend the Development Agreement to January 22, 2009.
E. On October 21, 2008, the City Council of City adopted Urgency Ordinance No.__U, approving this Sixth Amendment. Developer and City desire to amend the Agreement to reflect the foregoing.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing recitals, and the mutual promises and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows:
1. Section 7 of the Agreement, entitled Term, is hereby amended by replacing paragraph 7.2 at the end of that Section 7 with the following new paragraph 7.2, to read as follows:
“7.2 Extension of Development Agreement. This Development Agreement is hereby extended from October 22, 2008 through January 22, 2009. Vesting Tentative Tract Map No. 50666 is hereby extended along with the term of this Development Agreement.”
2. Full Force. Except as specifically set forth herein, the Agreement shall remain in full force and effect.
3. Counterparts. This Sixth Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. A facsimile signature shall be deemed an original signature.
4. Authority. The persons executing this Sixth Amendment on behalf of Developer and City represent and warrant that they are duly authorized so as to fully and legally bind Developer and City, respectively.
IN WITNESS WHEREOF, this Sixth Amendment is executed as of the date first written above.
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“DEVELOPER”:
VH PROPERTY CORP.,
a Delaware corporation
By:
Name:
Title:
By:
Name:
Title:
THE “CITY”:
CITY OF RANCHO PALOS VERDES
By:
Mayor |
ATTEST:
_________________________________
City Clerk |
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STATE OF CALIFORNIA |
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COUNTY OF __________ |
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On before me, , personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature (Seal)
STATE OF CALIFORNIA |
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COUNTY OF __________ |
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On before me, , personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature (Seal)
STATE OF CALIFORNIA |
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COUNTY OF __________ |
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On before me, , personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature (Seal) |