SECOND AMENDMENT TO AGREEMENT FOR DEVELOPMENT AND DISPOSITION OF PROPERTY - IMR SITE II
09;/08/03 10:41 FAX 941 750 9761
O.P&N PA
141 002
SECOND AMENDMENT TO AGREEMENT FOR DEVELOPMENT
AND DISPOSITION OF PROPERTY - IMR SITE II
THIS SECOND AMENDMENT TO AGREEMENT FOR DEVELOPMENT
AND DISPOSITION OF PROPERTY - IMR-SITE II ("Second Amendment") is
made and entered into as of CJc~1 ~ ' 2003, by and between
COMMUNITY REDEVELOPMENT AGENC OF THE CITY OF CLEARWATER,
a public body corporate and politic of the State of Florida, created pursuant to
Part III, Chapter 163, Florida Statutes ("Agency"), and S & P PROPERTIES, L.C.,
a Florida limited liability company (US & pn).
RECITALS
WHEREAS, Agency and IMRglobal are parties to that certain Agreement for'
Development and Disposition of Property - IMR-Site II, dated as of October 27,
1998 ("Development Agreement"), a Memorandum of which dated November 4,
1998 is recorded in Official Records Book 10299, at Page 511, of the Public
Records of Pinellas County, Florida; and
WHEREAS, Agency approved an Assignment and Assumption Agreement from
IMRglobal to S & P Properties on June 19, 2000; and
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WHEREAS, S& P has made a written request, by letter of August 7,2003, to
amend the Development Agreement, and requests to extend the time in which
construction on the Site must commence,
NOW, THEREFORE, the parties hereto agree as follows:
6.02 Construction of the Project
(a)(3) Iffor any reason, including Un~vojdable Delay, the Developer does
not commence construction of the Project on or before October 30, 2004 October
30, 20~, then as of that date, the Agency shall no longer be obligated to pay for
or reimburse' Developer for those Impact Fees, if any, patti by.the'.Agency
pursuant to the provisions of Section 3.04 hereof. Further,' if for any reason,
including unavoidable delay, the Developer does not commence construction of
the Project on or before October 30. 2004 Ootober ~O, 2003, then as of that date
the Developer shall pay to the Agency the sum of $35,000_00 (the "Tennination
Feen). The Developer and the Agency recognize and acknowledge that said
$35,000.00 represents the difference between the Purchase Price of the Site
payable pursuant to this Agreement and the estimated fair market value for the
Site-
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,09/08/03 10: 42 FAX 941 750 9761
O.P&N PA
f4J 003
-~,_....---.-_'--- .--.
Signed. sealed and delivered
in the presence of:
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF CLEARWAT . FLORIDA
By:
Approved as to form:
~kin
City Attorney
Attest:
STATE OF FLORIDA
COUNTY OF PINELLAS
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Th~going instrument was acknowledged before me this 17 d;!Y of
, 2003, by BRIAN J. AUNGST and CYNTHiA E. GOUDEAU.
Chairperson and City Clerk, respectively, of Community Redevelopment Agency
of the City of ClealWater, Florida, They are personally known to me or have
produced valid Florida drivers' licenses as identification.
(SEAL)
~rf.~
PrintedfT ed Name: .
Notary Public-State of Florida
Commission Number:
J()
, .
09/18/03 09:23 FAX 941 750 9761
O.P&N PA
III 005
..--.--.-.-'-
0;.
M II-,l/~ Po t...-EN5/~ L
Name:
(Type or print name)
By:
I'
Ji;isl,aftll Pa,b.af M~J-'" PJ;JB~l
Name:
(Type or print name)
The foregoing. insJr:ument was acknowledged before me this day of
, 2003, by , a general partner of S & p
Properties, Inc., a Florida limited Iiabiltty company, on behalf of the company.
He/She is personally known to me or has produced -
as identification.
(SEAL)
Printedrryped Name:
Notary Public-State of Florida
Commission Number:
. 7
.,.
The foregoing Second Amendment to Agreement for Development and Disposition of
Property - IMR Site II, was acknowledged before me this 24th day of September, 2003
by Mark Polewski, an authorized signing officer of Windsor Clearwater Holdings Inc.
("Windsor Clearwater"). Windsor Clearwater being a Managing Partner of S & P
Properties, L.C., a Florida Limited Liability Company (the "Company"). He has
produced his Driver's Licence to me as identification.
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