HomeMy WebLinkAboutResolution No. 95-C13® 0
RESOLUTION NO. 95—C13
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
RESCINDING THAT CERTAIN AGREEMENT ENTITLED "OWNER
PARTICIPATION AGREEMENT BY AND BETWEEN THE
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA AND ARTHUR
AND BERNADINE ANDREWS"
WHEREAS, the City Council approved the Owner Participation Agreement ("OPA") by and
between Arthur and Bernadine Andrews ("Participant") and the Redevelopment Agency of the City
of Azusa on December 16, 1991; and
WHEREAS, pursuant to Section 5.7 B. 4. of the OPA, the Agency did not open escrow to
convey the Acquisition Parcel pursuant to Section 2.5 of the OPA, and Participant did not take title
to the Acquisition Parcel, allowing the Agency to terminate the OPA; and
WHEREAS, pursuant to Section 5.7 of the OPA, in the event of termination of the OPA,
neither party shall have any rights or recourse against the other and neither party is entitled to any
damages or other relief in law or equity,
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Azusa take
the following actions:
SECTION 1. Terminate and rescind the Owner Participation Agreement by and between the
Redevelopment Agency of the City of Azusa and Arthur and Bernadine Andrews dated December
16, 1991.
SECTION 2. Authorize return of Participant's liquidated damages deposit of $10,000.
SECTION 3. Authorize the City Clerk to certify the adoption of this resolution.
PASSED AND APPROVED this 6th day of February , 1995.
MayAkt---- I
or
I HEREBY CERTIFY that the foregoing Resolution was duly passed, approved, and
adopted by the City Council of the City of Azusa, at a regular meeting of said City Council held on
the 6th day of February , 1995 by the following vote of the City Council:
AYES:
COUNCILMEMBERS: MADRID, NARANJO, BEEBE, ALEXANDER
NOES:
COUNCILMEMBERS: NONE
ABSTAIN:
COUNCILMEMBERS: NONE
ABSENT:
COUNCILMENIBERS: HARDISON
SAC RNM
C1 W PROMORRESPO =OPA. W PD