SECOND AMENDMENT TO AGREEMENT FOR DEVELOPMENT AND PURCHASE AND SALE OF PROPERTYSECOND AMENDMENT TO AGREEMENT FOR DEVELOPMENT
AND PURCHASE AND SALE OF PROPERTY
THIS SECOND AMENDMENT TO AGREEMENT FOR DEVELOPMENT AND
PURCHASE AND SALE OF PROPERTY (this "Amendment") is made and entered into as of
this t'it"day of February, 2022, by and between the COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF CLEARWATER, FLORIDA, a public body corporate and politic
of the State of Florida created pursuant to Part III, Chapter 163, Florida Statutes (the "Agency"),
and BLUE PIERCE, LLC, a Florida limited liability company (the "Developer", together with the
Agency, the "Parties").
WITNESSETH:
WHEREAS, the Agency and Blue Sky Communities LLC entered into that certain
Agreement for Development and Purchase and Sale of Property dated October 22, 2019 as
assigned to the Developer (the "Contract"); and
WHEREAS, the Parties entered into that certain First Amendment to Agreement for
Development and Purchase and Sale of Property dated October 12, 2020; and
WHEREAS, the Developer has experienced project delays due to the pandemic, and
efforts to seek additional funding commitments to offset the increase in construction costs; and
WHEREAS, notwithstanding the delays, the Developer has met the following obligations
set forth in the Contract: (i) Section 3.03(a) and (b) ("Permits"); (ii) Article 4 ("Project Plans and
Specifications"); (iii) Section 6.05 ("Title"); and (iv) Section 6.06 ("Survey"); and
WHEREAS, the Agency has approved the Site Plan in accordance with Sections 4.01(b)
and 4.04 of the Contract; and
WHEREAS, although the City of Clearwater ("the City") is a party to the Contract, the
City is only a party to the Contract as it relates to Section 15.18 ("Local Government Support")
and therefore is not required to be a party to this Amendment; and
WHEREAS, the Agency and the Developer desire to enter into this Amendment to address
certain terms in the Contract.
NOW THEREFORE, for and in consideration of the mutual covenants and agreements
of the parties, and other good and valuable considerations, the receipt and sufficiency of which is
hereby acknowledged and agreed by each of the parties, the Agency and the Developer do hereby
covenant and agree as follows:
1. The Agency and the Developer do hereby mutually represent and warrant that the
foregoing recitals are true and correct, and said recitals are hereby ratified, confirmed, and
incorporated into the body of this Amendment.
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2. Any capitalized terms utilized in this Amendment and which are not separately
defined herein shall have the meaning ascribed thereto in the Contract.
3. Section 4.05(b) is hereby amended to provide that the Developer shall Commence
Construction of the Project by January 1, 2023.
4. Section 4.05(c) is hereby amended to provide that the Developer shall commence
Vertical Construction of the Project by July 1, 2023.
5. Section 4.05(d) is hereby amended to provide that the Developer shall have
substantially completed construction of the Project in accordance with Section 7.05 by January 1,
2025.
6. Section 6.10 is hereby amended to provide that the Closing Date shall occur no later
than December 1, 2022.
7. Except as amended and modified hereby, the terms and conditions of the Contract
are and shall remain in full force and effect. The Contract, as modified by this Amendment, is
affirmed, confirmed and ratified in all respects.
8. This Amendment may be executed in multiple counterparts, each of which shall be
deemed an original but all of which, together, shall constitute one instrument. For the purposes of
this Amendment, an executed facsimile or electronically delivered counterpart copy of this
Amendment shall be deemed an original for all purposes.
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and
year first set forth above:
AGENCY:
Community Redevelopment Agency
of the City of Clearwater, Florida
Approved as to form:
Michael P. Fuino
CRA Attorney
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Frank V. Hibbard20-1R---e/
Chairperson
Attest:
Rosemarie Call
City Clerk
DEVELOPER:
Blue Pierce, LLC, a Florida limited
liability company
By: Blue Pierce M, LLC, its manager
By:
Shawn Wilson, Manager
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