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Regency Group - Development Agreement - Minor ModificationRECORDING REQUESTED BY AND WHEN RECORDED, RETURN TO: City of Gilroy 7351 Rosanna Street Gilroy, California 95020 -6190 Attention: City Administrator DOCUMENT: 18411813 IIIIIIIIIIIIIIII�IIIIIIII�IIIIN «Pe;, ... AMT PA I D BRENDA DAVIS SANTA CLARA COUNTY RECORDER Recorded at the request of City MINOR MODIFICATION To DEVELOPMENT AGREEMENT BETWEEN CITY OF GILROY AND REGENCY REALTY GROUP, INC. OPERATING MEMORANDUM NUMBER ONE \NVH1607793 3 1 Pages 7 25.00 RDE # 011 6/09/2005 10 07 AM MINOR MODIFICATION TO DEVELOPMENT AGREEMENT OPERATING MEMORANDUM NUMBER ONE This Minor Modification to Development Agreement Operating Memorandum Number One (this "Memorandum ") is made and entered into as of this L(-<\— day of May, 2005, by and between Regency Realty Group, Inc., a Florida corporation ( "Regency ") and the City of Gilroy, a California municipal corporation ( "City "). This Memorandum modifies that certain Development Agreement Between City of Gilroy and Regency Realty Group, Inc., dated February 5, 2003, and recorded in the Office of the Santa Clara County Clerk - Recorder on March 7, 2003, as Document No. 16871015 (the "Development Agreement "). Recitals This Memorandum is made on the basis of the following facts, understandings, and intentions of the Parties. A. Regency and City are Parties to the Development Agreement, which relates to the development of a Project on Regency's Property on seven (7) parcels, identified therein as Assessor's Parcel Numbers (APNs) 841 -70 -018, 841 -70 -019, 841 -70 -021, 841 -67 -020, 841 -67- 022, 841 -70 -017 and 841 -17 -088, located in the City of Gilroy. B. Section 3.7 of the Development Agreement provides that the Parties may enter into operating memoranda from time to time as necessary or appropriate to administer and implement the provisions of the Development Agreement. Since entering into the Development Agreement, Regency has made certain minor modifications to the Site Plan and has recorded a final map subdividing the Property. In addition, certain other modifications have occurred with respect to the Property, including lot line adjustments and the vacation and abandonment of Brem Lane, as contemplated by Section 4.5 of the Development Agreement. C. The Parties desire to enter into this Memorandum in order to confirm these minor changes to the Site Plan and the current legal description of the Property based on the matters which have occurred as outlined in Recital B. above. D. The City Attorney has determined that this Memorandum is the appropriate means by which to memorialize the matters specified in these Recitals. The City Attorney's determination is based upon an analysis by City Staff pursuant to CEQA that the minor changes in the Project reflected by the matters specified in these Recitals do not require any further environmental review because the Project was, when approved by City, subjected to CEQA review and the matters specified in these Recitals do not constitute "changed circumstances" with respect to the Project requiring further review under CEQA. E. In order to effectuate the foregoing and memorialize the matters specified in these Recitals, the Parties desire to enter into this Memorandum. F. The Parties have determined to record this Memorandum in the records of Santa Clara County because it modifies the Development Agreement and affects the respective rights of the parties thereunder. Furthermore, this Memorandum changes the Site Plan of the Project to reflect subdivision and lot line adjustments of parcels and abandonment of a street, and thereby XNVHM7793 3 n gives rise to the right of Regency to transfer title to portions of its property and with respect to the abandoned street, and the duty on the part of the City to recognize such rights. NOW, THEREFORE, based upon the foregoing recitals and the mutual covenants and conditions contained herein, the Parties hereby agree as follows: 1. Defined Terms. Except as otherwise specified in this Memorandum, all terms defined in the Development Agreement shall have the same meaning when used in this Memorandum, including use thereof in the Recitals. 2. Revisions to Property Legal Description. The legal description of the Property set forth on Exhibit E to the Development Agreement is replaced in its entirety by the current legal description of the Property set forth on Exhibit 1 attached hereto and incorporated herein by reference. 3. Revisions to Site Plan. The Site Plan attached to the Development Agreement as Exhibit G is replaced in its entirety by the Site Plan attached to this Memorandum as Exhibit 2 and incorporated herein by reference. The Parties understand and agree that the modifications to the Site Plan do not effect an increase in the over -all allowed square footage of buildable space of the Project. 4. PurWose and Effect of Memorandum. This Memorandum is entered into by the Parties to implement and administer the Development Agreement to reflect the current legal description of the Property and the current Site Plan governing the Project. It is intended to confirm the current legal description of the project and not to create any new obligations as to any third party not a Party to the Development Agreement. It shall be recorded in the records of Santa Clara County, but shall not constitute an amendment to the Development Agreement requiring public notice or hearing. It shall be attached to the Development Agreement in the files of the City Clerk and shall become a part thereof. All provisions of the Development Agreement shall remain in full force and effect, enforceable in accordance with their terms. WHEREFORE, the Parties hereto have executed this Memorandum as of the date first above written. Dated: S— ' -`-0 J REGENCY REALTY GROUP, INC., a Florida corporation By: Thoma ng Its Sen resident CITY OF ROY, a California municipal corporation Dated: �' - 2 ? - v `j By: Jay Baksa Its City Administrator Approved as to form: Linda A. Callon, City Attorney \NVH\607 -M 3 Exhibit 1 Revised Exhibit E LEGAL DESCRIPTION FOR THE DEVELOPMENT AGREEMENT GILROY CROSSING All that real property situated in the City of Gilroy, County of Santa Clara, State of California and being all of lots 1, 2, 3 and 4 as shown on "Tract No. 9487 Gilroy Crossing ", filed for record in the Office of the Recorder of Santa Clara County on July 8, 2003 in Book 762 of Maps, at Pages 20 -25 inclusive and also being all of Parcel 2 and Parcel 3 as shown and described in that certain "Certificate of Compliance No. 2003 -10 ", (lot line adjustment) filed for record in the office of the recorder of said County on December 10, 2003 in Document No. 17520707 which includes all that portion of the now abandoned Brem Lane described in that certain Quitclaim Deed to Regency Realty Group, Inc. A Florida Corporation, filed for record in the Office of the Recorder of Santa Clara County on October 6, 2003 in Document No. 17397359 and also that additional portion of said abandoned Brem Lane adjoining said lot 1, filed for record in Document no. 17397360. Said property contains 46.96 acres, more or less. NWHX607723 3 STATE OF CALIFORNIA ss. COUNTY OF n Cc CpS+Q Cor+e4' On111 c J0 before me,ShAnnen yY1iCY�ue� personally appeared Thomas 9. En hey -Q, , ® personally known to me -OR- ❑ SHANNON MICHAEL CARTER Commission #t 1515316 -.s Notary Publk - California Contra Costa County T^ Comm. Explres Sep 25, 2008 INVHM7723 3 proved to me on the basis of satisfactory evidence to be the personH whose name(s) is/a>e subscribed to the within instrument and acknowledged to me that he /shefthey executed the same in his/hwAhek authorized capacity(3es), and that by his/13erAheir signature(s) on the instrument the person(*} or the entity upon behalf of which the person(* acted, executed the instrument. WITNESS my hand and official seal. &70 yUvZ{JYi ! 7�ag�' %�� SIGNATURE OF NOTARY CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. ❑ INDIVIDUAL YORPORATE OFFI -CERS(S) en, pr slice redden+ Title(s) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ❑ ATTORNEY -IN-FACT ❑ TRUSTEE(S) ❑ GUARDIAN /CONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: Name of Person(s) or Entity(ies) R a kea E4 Group, lh C. STATE OF CALIFORNIA ss. COUNTY OF 5,gviACL ,iPA On 3uu,= i , zae S before me, t'Arg, ein K. acu%3C�/ personally appeared M I C H A B L- - IZ. D o r- ni personally known to me -OR- ❑ proved to me on the basis of satisfactory evidence tp be the person(s) whose name(s) (is *e subscribed to the within instrument and acknowledged to me that g he /they executed the same in Per/their authorized capacity(ies), and that by� S er /their signature(s) on the instnunent the person(s), or the entity upon behalf of which the person(s) acted, executed the instnunent. WITNESS my hand and official seal. SIGNATURE OF OaARY FKRK3A K. 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