HomeMy WebLinkAboutRedevelopment Agency - 210 RESOLUTION 210
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF HUNTINGTON BEACH AUTHORIZING THE
EXECUTIVE DIRECTOR TO EXECUTE THE REQUEST FOR
FULL RECONVEYANCE OF THE SUBORDINATED DEED OF TRUST
IN CONNECTION WITH THE CALIFORNIA RESORTS
MAIN PIER PHASE I PROJECT
WHEREAS, the Redevelopment Agency of the City of Huntington
Beach ("Agency") and California Resorts, a California general
partnership ("Developer") have entered into that certain Second
Amended and Restated Disposition and Development Agreement
dated August 26, 1988 ("Agreement") ; and
Such Agreement required the Developer to secure performance
by executing a Subordinated Deed of Trust, a copy of which is
attached hereto as Exhibit "A" , and based upon the Certificate
of Completion attached hereto as Exhibit "B" , the Agency now
wishes to release such Deed of Trust,
NOW, THEREFORE, the Redevelopment Agency of the City of
Huntington Beach hereby authorizes the Executive Director to
execute the Request for Full Reconveyance on such Deed of Trust
and any other document which is necessary to carry out the
intent of this resolution so long as the same has been approved
as to form by the Agency' s counsel and further so long as the
final completion of all improvements is guaranteed by bond
satisfactory to the Executive Director and the Developer agrees
to hold Agency and City harmless for such Full Reconveyance
prior to said final completion.
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PASSED AND ADOPTED by the Redevelopment Agency of the City
of Huntington Beach at a regular meeting thereof held
on 17th day of December 1990 . 4w
Chairman VV
A;`TEST,: APPROVED AS TO FORM:
Agency Clerk Agency Counsel k4--`I o
1..11ITTATED, REVIEWED AND APPROVED:
��Executive Director
U
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210
Res. No. 210
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH)
I, CONNIE BROCKWAY, Clerk of the Redevelopment Agency of the
City of Huntington Beach, California, DO HEREBY CERTIFY that the foregoing
resolution was duly adopted by the Redevelopment Agency of the City of
Huntington Beach at a meeting of said Redevelopment Agency held on the
17tb day of December 19_9_a_, and that it was so adopted
by the following vote:
AYES: Members:
MacAllister, winchell. Silva, Gruen, Kelly, Robita_ille, Moult n-
Patterson
NOES: Members:
None
ABSENT: Members:
None
C erk of the Redevelopmeift Agency of
the City of Huntington Beach, Ca.