THIRD AMENDMENT TO AGREEMENT FOR DEVELOPMENT AND DISPOSITION OF PROPERTY - IMR SITE II
THIRD AMENDMENT TO AGREEMENT FOR DEVELOPMENT
AND DISPOSITION OF PROPERTY -IMR SITE II
THIS THIRD AMENDMENT TO AGREEMENT FOR DEVELOPMENT
AND DISPOSITION OF PROPERTY - IMR-SITE II ("S~tPJ~mendment") is
made and entered into as of ~ I ~ ' 2004, bSHfrid between
COMMUNITY REDEVELOPMENT AG NCY 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 ("S & P").
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
WHEREAS, S& P has made a written request, by letter of October 13, 2004, 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 Proiect
(a)(3) If for any reason, including Unavoidable Delay, the Developer does
not commence construction of the Project on or before April 30. 2005 Octobor
30, 2004, then as of that date, the Agency shall no longer be obligafed to pay for
or reimburse Developer for those Impact Fees, if any, paid 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 April 30. 2005 October 30, 2004, then as of that date the
Developer shall pay to the Agency the sum of $35,000.00 (the "Termination
Fee"). The Developer and the Agency recognize and acknowledge that said
$35,000.00 represents the difference between the Purchase Price of the Site
payable pursuant to this Agreement and the estimated fair market value for the
Site.
S & P PRo7ZE , L.C., a FlOrid. a
=zbir Co pany
- ~
General Partner
By:
The foregoing in . nt was acknowledged before me this ~ '1tay of
~ ' 2 by p/4l1t. .IJI~IC/ , a general partner of S & P
Properties, Inc., a Florida limited liability company, on behalf of the company.
He/She is personally known to me ONA811 prcd~G8d
as identification. ~
(SEAL)
~......
= .
Print IT~ Name: - .c/ :. = .... ~
Notary.P~bhc-~~ Flo'~-(~~K I
Commission Number. '< . - -: .,' -
N~~Y
(Type or print name)
, L.C., a Florida
pany
General Partner
~~fOO.2:r going ins~r ent was acknowledged before me this ,1\day of
_ -~200 by I&tIMlt IALffMJ.$It:/ , a general partner of S & P
- P-ropertiesJ'nc~, a lorida limited liability company, on oehalf of the company.
He/She is personally known to me or flos pmeluced -
as identification. ~
(SEAL) V
Pri
1'111/~~
=--- $~a)
COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF
CLEARWATER, FLORIDA
By: ::j~ I< II#~'-
Rank V. Hibbard
Chairperson
Approved as to form:
Attest:
JJJ
Pamela K. Akin
City Attorney
~[}j'
< - -..
'~". ~_,'QG a ~
Cyn 'a E. Goudeay.... ','
City Clerk ,/ .." ..' . .
STATE OF FLORIDA
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me this I~ day of
~ ' 200~by FRANK V. HIBBARD and CYNTHIA E. GOUDEAU,
Chairperson and City Clerk, respectively, of the Community Redevelopment
Agency of the City of Clearwater, Florida. The are personally known to me or
have produced valid Florida drivers' licenses as identification
(Seal)
,
,w... 1004II-7018