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HomeMy WebLinkAboutMINUTES - 02051991 - 1.85 TO: BOARD OF SUPERVISORS, as the Board of Commissioners of Contra Costa County Redevelopment Agency FROM: PHIL BATCHELOR, EXECUTIVE DIRECTOR DATE: February 5, 1991 SUBJECT: Second Amendment to Purchase Agreement Hookston Station, Pleasant Hill Area Project No.: 7891-6X5489 SPECIFIC REQUEST(S) OR RECOMMENDATION(S) &BACKGROUND AND JUSTIFICATION I. Recommended Action: APPROVE Second Amendment to Purchase Agreement with John V. Hook, Trustee, et al. (Grantor) and AUTHORIZE Redevelopment Director or his assignee to execute said Amendment on behalf of the Agency. II. Financiallmpact: According to the terms of the original Purchase Agreement for the Hookston Station property, approved by the Board on June 20, 1989, $200,000 of the sales price was to be held in escrow until July 31, 1990. Approval of this Amendment will extend that deadline to July 31, 1991, so that certain conditions can be met. III. Reasons for Recommendations and Background: An investigation by Harding Lawson Associates has confirmed the presence of hazardous materials on the site. If the Amendment is approved, the Agency's $200,000 will continue to be held in escrow pending remediation of hazardous materials on the site. In addition, the Grantors will be granted additional time to eliminate a utility easement on the property. IV. Consequences of Negative Action: Failure to approve the amendment will result in the release of funds to the Grantors before remediation occurs. liev`�Continued on Attachment: SIGNATURE: _ RECOMMENDATION OF COUNTY ADMINISTRATO , _ RECOMMENDATION OF BOARD COMMITTEE APPROVE OTHER SIGNATURE(S): ACTION OF BOARD ON February 5, 1991 APPROVED AS RECOMMENDED OTHER _ VOTE OF SUPERVISORS X UNANIMOUS (ABSENT ) AYES: NOES: ABSENT: ABSTAIN: 1 hereby certify that this Is a t:us and correct copy of NW:rs an action taken and entered on the minutes of the c:BOb5.t2 Redevelopment Agency on the date shown. ATTESTED: February 5, 1991 Orig. Div: Public Works (R/P) PHI IATCHELOR,Agency Secretary cc: County Administrator Auditor-Controller (via R/P) By A.J Deputy Public Works Accounting Real Property Redevelopment Agency i Parcel Number: 148-360-027 Grantor: John V. Hook, et al. Project Name: Hookston Station Address: Mayhew Way Project Number: 7891-6X5489 Pleasant 11111, CA 94402 SECOND AMENDMENT TO PURCHASE AGREEMENT 1. Effective Date and Parties. Effective on 1991 , Contra Costa County, (herein called "County"), a political subdivision of the State of California, and. the undersigned, (herein called "Sellers"), mutually agree as follows: 2. Purpose. The parties desire to amend that contract they entered into, effective June 30, 1989, entitled, "PURCHASE AGREEMENT". 3. Amendment. Said Purchase Agreement is hereby amended as follows: Paragraph 9, "Relocation of Water District Easement," shall be amended to read, "Promptly following the Closing, Sellers shall make good faith and diligent efforts to eliminate the easement noted as Item 8 on the attached Exhibit B as an encumbrance on the Property. If Sellers are unable to eliminate that easement by July 31, 1991, then the purchase price for the property shall be reduced by $75,000 and Sellers shall repay that amount to the County promptly following that deadline. The provisions of this Paragraph 9 shall survive the Closing." Paragraph 10, "Toxic Investigation," shall be amended to read, "Promptly following the Closing, the County shall obtain an investigation of the toxic conditions on the Property. Such investigation shall be carried out by a qualified person or firm selected by the County and approved by Sellers. The cost of that investigation shall be divided equally between the County and Sellers. The parties further agree that the cost of investigation to discover the source of any contamination found shall be borne by the Sellers, unless results of the investiga- tion are used by the County in future investigation, In which case the County shall share the cost. The provisions of this Paragraph 10 shall survive the Closing." Paragraph 11, "Funds Held in Escrow," shall be amended to read, "The parties shall instruct the Escrowholder to hold $200,000 of the purchase price in an interest bearing account following the Closing. The account may be reasonable designated by Sellers. The amount held by the Escrowholder shall be paid to the County to reimburse the County for the reasonable costs it incurs in rernediating any toxic conditions on the Property, to pay the Sellers' share of the investigation provided for in Paragraph 10 above, or to pay amounts the Sellers owe to the County pursuant to Paragraph 9 above; provided, however, in no event shall the County make any request for payment from the amount held by the Escrowholder for any costs of remediating any toxic condition on the Property if that cost is not one for which Sellers are required to indemnify the County pursuant to the indemnity set forth in Paragraph 12 below. Before making a request for payment from the amount held by the Escrowholder, the County shall provide to the Sellers in writing detailed information regarding the costs included in the request. The parties mutually agree that Sellers shall act as lead agent in remediating surface soils contamination which has been found to exist on property. If any amount held by the Escrowholder has not been paid to the County by July 31, 1991, the Escrowholder shall pay that amount to Sellers. The provisions of this Paragraph 11 shall survive the Closing." 4. Effect. Except for the amendment agreed to herein, said Right of Way Contract remains in full force and effect. r�t 5. Consideration. The extension of deadlines shall be mutually beneficial. Tile Sellers shall be granted additional time to eliminate the Water District's easement. The County's funds will continue to be held in escrow pending remediation of hazardous materials on the property. IN WITNESS WHEREOF, the parties have executed this agreement this day of 1991.. COUNTY OF CONTRA COSTA SELLERS By James Kennedy, Redevelopment Director John V. Hook, Sole Surviving Trustee of The Geneva B. Hook Trust UJD 4-11-75, As Amended 10-26-82 Samuel P. Young S. Elizabeth Young Daniel C. Helix Mary Lou Helix John V. Hook, as Co-Trustee Under the Will of Mildred A. Hook, Deceased -arid- Steven Pucell, as Co-Trustee Under the Will of Mildred A. Hook, Deceased John V. Hoo4 NW:rs c:AG5hJ12 December 10, 1990