HomeMy WebLinkAboutReso 127-1987 RESOLUTION NO. 127-87
CITYi COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING AN AMENDMENT TO THE AGREEMENT
WITH PETER AND ENES MAZZANTI FOR THE ACQUISITION OF
i PROPERTY TO EXPAND ORANGE MEMORIAL PARK
WHEREAS, by Resolution No. 52-87 Peter and Enes Mazzanti and the City
entered into an Agreement to provide for the acquisition of property owned
by the Mazzantis for the expansion of Orange Memorial Park; and
WHERE&S, a condition precedent in that Agreement involved electorate
approval ~f a financing program at the November 1987 election; and
WHEREAs, the anticipated proposal will not be submitted to the electorate
until a later date, thus making it necessary to modify the various timing
provisions set forth in the original Agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South
San Franc!sco that it approves of the Agreement entitled "Amendment To The
AgreementiBetween the City of South San Francisco and Peter and Enes Mazzanti
Concerning The Acquisition Of Property Adjacent To Orange Memorial Park" and
authorizeS the Mayor to execute such an Agreement in substantially the same
form as the Agreement attached as Exhibit "1".
I hereby certify that the foregoing Resolution was regularly introduced and
adopted bY the City Council of the City of South San Francisco at a regular
meeting held on the 9th day of December , 19 87 by the following vote:
AYES: Councilmembers Mark N. Addieqo, Richard A. Haffey, Gus Nicolopulos,
NOES:
ABSTAIN:
ABSENT:
Roberta Cerri Teolia, and Jack Drago
None
None
None
ATTEST:
City Clerk
EXHIBIT 1 TO RESOLUTION NO. 127-87
AHENOMENT TO THE AGREEMENT BETWEEN THE C]TY OF
SOUTH SAN FRANCISCO AND PETER AND ENES MAZZANT!
CONCERN!NG THE ACQU!SITiON OF PROPERTY ADJACENT
TO ORANGE MEMORIAL PARK
THISiAMENDMENT is dated December 9, , 1987 and is by and between
the City of South San Francisco {hereinafter "City") and Peter and Eries Mazzanti
{hereinafter "Owners"). This Amendment amends the "Agreement Between the City of
South san Francisco and Peter and Enes Mazzanti Concerning the Acquisition of
Property! Adjacent to Orange Memorial Park" dated May 14, 1987 and approved by
ResolutiOn No. 52-87.
City) and Owners agree that this Amendment alters the time periods established
in the oiriginal Agreement as follows:
2. Payment Term. The payment term shall be a period of six (6) years,
commencing January 1, 1989. No interest shall accrue on any unpaid
balance during the Payment Term.
Be
Time of Transfer to City. At the end of five {5) years, that is
by December 1993, City will notify Owner if it wishes to take control
of the Property by December 1994, or is willing to extend the period
during which Owners are in possession of the Property. If the City
wishes to take control, Owners shall vacate the Property in a timely
fashion. If the City desires to extend the period during which
Owners are in possession of the Property, Owners will pay City fair
market value on a monthly basis for the period of extended occupancy.
e
Condition Precedent. A condition precedent to provisions I through 5
is that the electorate approve a park expansion financing program at
a local election held prior to July 1, 1988. The City shall utilize
a financial advisor to formulate the financing program and to assist
in formulating the measure to be submitted to the electorate. Payment
of the financial advisor shall be subject to future sale of bonds. If
the electorate does not approve the park expansion financing program
this Agreement becomes void.
All of the other provisions of the May 14, 1987 Agreement remain in full force
and effect.
IN WITNESS WHEREOF, the parties have executed this Agreement.
ATTE ST:
By:
By:
By:
CITY:
CITY OF SOUTH SAN FRANCISCO,
a Municipal corporat~gn
City Manager
OWNERS:
APPROVED AS TO FORM:
City At~/r ney
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