RES 86364 - Laserfiche WebLink

AGRBBMBIqT BETWEEN TIll CITY OP PLBAGA,NTOMANDCITY OP PLBASANTOM PUBLIC PACILITIB8 CORPORATION RELATING TO T!il PURCHAGB AND IMPROVB)f,BNT OP REAL PROPERTY THIS .AGREEMENT is entered into between the CITY OF PL=ABANTON, ~ municipal corporation, (~he "City"), and CXTY OP PLBASANTON PUBLIC ~AClLITIBS CORPORATION, a California nonprofit corporation (the "Corporation"). WITNESSETH WHEREAS, CITY OF PLEASANTON PUBLIC FACILITIES CORPORATION (the "Corporation") was incorporated in 1973 pursuant to the general nonprofit corporation laws of the State of California to provide financial assistance to the City of Pleasanton; and WHEREAS, the CITY OF PLEASANTON (the "City") desires to acquire and use certain real property as a site for a new field services complex and to make improvements to the real property for said complex; and WHEREAS, the City Council of the City has determined that it is in the best interests of the residents of the City for the Corporation to purchase the aforementioned real property for the purposes set forth herein, and for the Corporation to undertake the other actions hereinafter provided for~ NOW, THEREFORE, IT IS AGREED as follows: 1. City Program. Pursuant to California Government Code Sections 37350 and 37352, the City hereby establishes a program necessary to meet the building needs of the population of the City and hereby contracts with the Corporation to carry out said program. The City agrees to transfer, from time to time, to the Corporation sums of money which shall be used by the Corporation solely for the purpose of purchasing the following parcel of property in the County of Alameda, State of California: [Property description on Exhibit "A"] In addition, the City shall transfer all amounts necessary to pay escrow fees, title insurance premiums, or other incidental costs incurred by the Corporation in purchasing said property. 2. Purchase of Property. Upon execution of this Agreement, and upon receipt from the City of a written request to purchase the aforementioned parcel of real property, accompanied by an agreement for the purchase of such parcel of real property inform acceptable to the City, the Corporation shall execute said agreement and shall carry out the terms of said agreement, or shall execute an acceptance of an assignment of said agreement, but only upon receipt from the City of funds sufficient to enable it to do so. The Corporation shall have no responsibility to the City for any defects in the title to any parcel of property so acquired or in connection with performing any such agreement. - 1 -