M-8/8/1972
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R ES C'~iJ -[.!.C ~-\ ~~(, ~_ ~ i 6 C~ ~A ...S ~
;::S.JLUT;C\ Of T'i~ ~Ei:fV::~O?Mc>~r ~-~::~Cy OF i:iE_ C.!...ILL~
S'~~'1--;-A 110[\ i CA. eM L I FOK.~! ~p, 1 APPR.OV i ~'.:G Ar'iE~~J,~..ENTS TO ~i..:E
LA~:D D is POS iT i (}~~ AC.RE:.Ei'-iE;--f!" ~,n TM :-;FHf .L-j-O. r A Pft,RTt-:ER-_u_____
ShIP, FOR Di$JOS:T;CN PAR~EL$ NOS~ 2, 3 AND ~ OF PROJSCT
l(A), CA~tF.. ;"{-371 ,1~\O .~OR DiSPOS!T:ON PARCEL. NO.. 5 OF
?~Jv~CT ; (3); CAL.1 r:.. R-L;.,:;..
i~"EREAS, the City Council of the City of Santa Monica, or. Aprii 11,1972,
~?proved the Land DISposition Agreement with hFH, Ltd.; and,
whE~EAS, tne Redevelopment Agency of the City of Santa Monica approved
~aid Land Disposition Agreement by Resolution No. 312 (R.A.S.) at a Public
Hearing on May 23, i972 for the sale of all real property in the Ocean Park
Redeve10p~ent Project No. I(a). Calif. R-37, and Project NO. l(b), Calif. R~~~,
and,
WhEREAS, the approval of said Land Disposition Agreement by the Depart~en<
of Housing and Urban Development is conditioned upon the approval of certain
Ar.1erodments to the Land Disposition Agreement, marked as Exhibit "A" and
attached hereto.
NOW, ,HEREFORE, BE iT RESOLVED BY THE REOEVELOPME~T AGENCY Or 7HE CI,Y
OF SA~TA MONICA, CALIFORNiA, as follows:
1. That the Amendments to the kFH, Ltd. Land Disposition Ag,eement,
marked as Exhibi t I'A" and attached hereto, are hereby approved.
2. That the Executive 01rector of tne Agency is hereby authorized
znd directed to execute said Amendments to the HFri, Lta. Larod
Disposition Agreement.
ADO?TED AND APPROVED THIS
8TH
, 1972.
AUGUST
DAY OF
~g~
A~t~or.yL. Dituv(' ~
Cna, rman /
; hereby certify that the foregOing Resolution was duly coopted by
tne Recevelopment Agency of the City of Santa Monica, CalIfornia, at a
special
meeting thereof, held on the 8tn
day of Augc;st
,572, by the following vote or the Agency Members:
t., YeS:
MEMBERS: Ditur~, Gabrie1, McCloskeYJ Re:dy, Rinck, ;Iive~
~G[S :
MEt"5ERS: Nor.e
A8SE~-,~ :
MEt1aERS: rloove r
~??rovec as to legal fOim and
t:mA-1 ~
K/o~.&:Gy)~ bS"'- U
secret'YY
;&:;- ceq<-iiY'
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._ :~~~~M;;?~;:;/~
ct;~ j. -Ja;o~;r ~ ---
::.j,-~"'~ ~ Cownsjil
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EX H J BIT I 'A II
,!I,!"iE t\D r~ E NTS
HFHI LTD. LAND DIS~OSITION 4GREEME~T
Pursua~t to the requlre~er.ts of the Depart~ent of Housing and Urban
Dev€~op~ent, tne Redevelopment Agency of the City of Santa Monlca, with
the co~currence of the Develo?er, HFH, Ltd., a partnership, does hereby
agree to €;1act and I ncorporate the fol Jowl..g listed Afilend;;lents raarked
as Exhibit "A" to the Land DispositIOn Agree;,lent bet'..,.een the Redevelop-
~ent Agency and the Developer, which was executed by the Developer on
April 7, 1972.
( 1 '
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Section D. (104)
The Site - Ease 3, HFr/ Ltd. Land
Disposition A9ree~ent
Section 104 is hereby a~ended to read as follows.
Ll. (104) The Site
The IISite" IS that j)ortlOn of the project areas snown as
Parcels 2, 3, 4 and 5 on Attachment No.1. The Site IS divided
IrotO four (4) parcels. Whenever used herein, the terr;1"parcejl'
shall ~ean and include anyone of such parcels and the ter~s
liS I te" and IJParcels" shall mean and Include all of Such parcels.
(2) Section 3. (108) Pro~lb,tlo~ Asainst Chan~e in Ownership and
Control 0; Developer - Pa~e 5, ~FH, Ltd. Land
Dlspos,t'on Aqree~e~t
Sec~ion 108 IS hereby amended to read as follows:
3. (108) ProhibitIon AgalnsL Change In Ownership a~c
Co~trol of Developer
The qualifications and identities of the Developer and Its
aSSOCiates are of part,cular concern to the Federal government,
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page T~'JO
the City a~d the Agency. It is because of tnose qualifications
a~d Icentities that the A5e~cy has entered Into this Agreement
with the Developer.
~o voluntary or Involuntary s~ccessor In Interest of the
Developer s~a1l acquire any rights or powers under LhlS ASree~ent
except as expressly set forth herein, nor shall Developer, prior
LO co~pletlon or deve10yment of a parcel, assign all or any part
of thiS Agreement wltn respect IO such Parcel without the prior
written approval of ~he Agency except as otherwise herein permitted.
Th,s Agree~ent ~ay be ter~inated by the Agency If there is
any change (voluntary or Involuntary), except as approved by the
Agency In the ownership, or control oT the Developer, other than
such changes occaSioned by death. No chanse ;n ownersnip or control
of Lhe Developer shall be ~ee~ed to be substantial unless such
cnange results In ~o,e tnan lU!c or Lhe equity of such partnership
~eir.g transferred, Provloed, However, fro~ time to ~I~e, Without
ar.y apprOVal, o\.;r.ers;;;p or wp LO 10% in the aggregate, In the
Projec~ ~ay be changed by transfers of in~erest in thiS Agree~ent
and/or in HFH, Ltd.
(3) Attach~ent No.2. Schedule of Prices
The Scnedule of Prices IS hereby a~ended to read as fol)ows:
ATTAC~MENT NO.2
SChED0LE OF PRICES
The Developer shall pay the foliowing ~urchase prices for
each Parcel
conveyed:
PRICE PER
~'JARE F_l.
55.00
55.00
$5.00
$5.0113
PU;\CHASE
PRICE
~1,oys,080
997,215
1,027,985
1,089.9?C
S':".2iO 200
SQUAii.t FT.
PER P;'R.CEL
219,Oi6
199,1,,43
205,597
217,490
pa ice 1 2
Po rce 1 3
parcei L;.
Perce J 5
TCTf\L.
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pa s;e Tn ree
If the sqt.iare foo<:age per parcel In Parcels 2,3,4 and 5
ale r.o~ as set forth above, ~hen the purchase prices shall be adjusted
accordIngly. For the ?~r~ose or calculaLing the purchase price for
eacn Parcel, sq~are footase wi:hin public streers shall not be
.
inclLdec i~ the square footage of Parcels.
The above purchase prIces for Parcels 2, 3 and 4 afe establ ished
wi<:h the require~ent that the Developer shall purchase and accept
Parcels 5 and 2 together as the fl rst conveyance, to be follo~ed
~y (1) Parcels 3 and 4 together as the second conveyance, or (2)
IT the Develo?er does not purchase Parcels 3 and 4 concurrently,
then the Developer ~ust ?urchase Parcel 4 prior to the purchase
of Parcel 3. NotWithstanding any other proviSion of this Agreement,
t~e Federal DepOSit shall be retained by the Agency until tne t;~e
of the last conveyance.
REDEVELOP~ENT AGENCY OF TnE
CITY OF SANTA MONICA, CALIFORNIA
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, 1972
By:
HFH, LTD., a limited partnership
. 1972
By:
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