FIRST AMENDMENT TO LICENSE AND ESCROW AGREEMENT STAGE II PROPERTY
.,
,
FIRST AMENDMENT TO
LICENSE AND ESCROW AGREEMENT
STAGE II PROPERTY
This first amendment to License and Escrow Agreement is made and entered into
this 3..c!day of October, 2002, by and between the COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF CLEARWATER, FLORIDA, a public body corporate and
politic of the City of Clearwater, Florida, created pursuant to Part III, Chapter 163, F.S.,
hereinafter referred to as "CRA" and Mediterranean Village, LLC, a Florida limited liability
company, the successor and assign of The Balk Company, Inc., a Florida corporation,
hereinafter referred to as liMed Village."
WHEREAS, CRA and Med Village entered into a License and Escrow Agreement
for Stage II Property on March 4,2002 (the "Agreement"), which Agreement serves as and
constitutes Exhibit M to the Agreement for Development and Disposition of Property
between the parties hereto.
WHEREAS, the Agreement requires Med Village to perform specific soil backfill
work as defined in the Agreement and to complete such work by certain timeframes
specified in the Agreement.
WHEREAS, due to certain unforeseen circumstances which have delayed the
implementation and completion of the work under the Agreement, CRA and Med Village
have encountered unavoidable delays in performing theA~k pursuant to timeframes
specified in the Agreement. Pu rsuant to the provisions of ' 14 of the Agreement
for Development and Disposition of Property, CRA and Med Vii age desire to amend and
restate Paragraph 5 of the Agreement (Term of Agreement) a d to otherwise extend the
Agreement to allow Med Village to complete the soil backfill w rk contemplated under the
Agreement.
NOW, THEREFORE, it is mutually agreed as follows:
1. E,gensLon of Term Qf Aqreement. Paragraph 5 of the Agreement (Term of
Agreement) is hereby extended by 180 days from the effective date of this First
Amendment to License and Escrow Agreement. All work permitted or required pursuant
to the Agreement shall be completed by Med Village within 180 days from the effective
date of this First Amendment to License and Escrow Agreement.
2. Remaining Provisions. All other terms, provisions and requirements of the
Agreement shall remain in full force and effect and shall not be modified by this First
Amendment to License and Escrow Agreement except for the provisions of Paragraph 5
(Term of Agreement) as set forth herein.
eo-3l.f 1-00 (3)
..
Countersigned:
CITY OF CLEARWATER, FLORIDA
By: ~...A,~7j[
William B. Horne II
City Manager
Approved as to form:
Attest:
.wk Akin
City Attorney
MEDITERRANEAN VILLAGE, LLC
~r~csW~m
M~\JA.C9~
.---.