HomeMy WebLinkAbout98-125 CC ResolutionRESOLUTION NO. 98-125
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TEMECULA APPROVING THAT CERTAIN "FIRST AMENDMENT
TO OWNER PARTICIPATION AGREEMENT BY AND BETWEEN
THE REDEVELOPMENT AGENCY OF THE CITY OF TEMECULA,
THE CITY OF TEMECULA AND INTERNATIONAL RECTIFIER
CORPORATION, A DELAWARE CORPORATION"
THE CITY COUNCIL OF THE CITY OF TEMECULA HEREBY RESOLVES AS FOLLOWS:
Section 1.
declare that:
The City Council of the City of Temecula does hereby find, determine and
a. On December 9, 1997, the Agency, City and Owner duly entered
into that certain "Owner Participation Agreement by and between the Redevelopment
Agency of the City of Temecula, the City of Temecula and International Rectifier
Corporation, a Delaware corporation" ("Agreement").
b. Since the parties entered into the Owner Participation Agreement,
International Rectifier's business plans and construction schedule for the facility have been
modified, requiring an amendment to the Schedule of Performance.
Section 2. The City Council of the City of Temecula hereby approves that certain
agreement entitled "First Amendment to Owner Participation Agreement by and between the
Redevelopment Agency of the City of Temecula, the City of Temecula and International Rectifier
Corporation, a Delaware corporation" dated as of December 15, 1998 by and between the
Redevelopment Agency of the City of Temecula, the City of Temecula and International Rectifier
Corporation, a Delaware corporation and authorizes the Mayor to execute the Agreement on behalf
of the Agency in substantially the form attached hereto as Exhibit A.
Section 3. The City Clerk shall certify to the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED by the City Council of the City of Temecula this
15th day of December, 1998.
Ron Roberts, Mayor
ATTEST:
[SEAL]
resos, 98-125 1
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF TEMECULA )
I, Susan W. Jones, CMC, City Clerk of the City of Temecula, California, do hereby certify
that Resolution No. 98-125 was duly and regularly adopted by the City Council of the City of
Temecula at a regular meeting thereof held on this 15th day of December, 1998.
AYES: 5
COUNCILMEMBERS:
Comerchero, Ford, Lindemans, Stone, Roberts
NOES:
0 COUNCILMEMBERS: None
ABSENT: 0
COUNCILMEMBERS: None
Susa s, CMC
'y Clerk
Resos 98-125 2
RECORDED AT REQUEST OF
AND WHEN RECORDED
RETURN TO:
Susan Jones, CMC
Secretary
Redevelopment Agency of
the City of Temecula
Post Office Box 9033
Temecula, California 92589
EXEMPT FROM RECORDER'S FEES
Pursuant to Government Code
Sections 6103 and 27383
FIRST AMENDMENT TO "OWNER PARTICIPATION
AGREEMENT BY AND BETWEEN THE REDEVELOPMENT
AGENCY OF THE CITY OF TEMECULA, THE CITY OF
TEMECULA AND INTERNATIONAL RECTIFIER
CORPORATION, A DELAWARE CORPORATION"
THIS FIRST AMENDMENT is entered into and effective as of December 15,
1998, by and between the Redevelopment Agency of the City of Temecula, a public body
corporate and politic ("Agency") and International Rectifier Corporation, a Delaware
Corporation ("Owner"). In consideration of the mutual covenants and agreements contained
herein, the Agency and Owner hereby agree as follows:
1. This First Amendment is made with respect to the following facts and
for the purposes which the parties hereto agree are true and correct:
a. On December 9, 1997, the Agency and Owner duly entered into
that certain "Owner Participation Agreement by and between the Redevelopment
Agency of the City of Temecula, the City of Temecula and International Rectifier
Corporation, a Delaware corporation" (" Agreement ").
b. The real property which is the subject of the Owner Participation
Agreement and this First Amendment is described on Attachment A, Legal Description,
and is incorporated herein as though set forth in full.
c. Since the parties entered into the Owner Participation Agreement,
the Owner's business plans and construction schedule for the facility have been
modified, requiring an amendment to the Schedule of Performance.
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2. Exhibit 3, Schedule of Performance, to the Agreement is hereby deleted
and in it place is substituted a new Exhibit 3, which new exhibit is attached hereto as
Attachment B. and incorporated herein as though set forth in full.
3. The parties hereto agree that the Agreement has been duly approved and
executed by all parties and except as modified by this First Amendment, all terms and
provisions of the Agreement are and remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first written above.
REDEVELOPMENT AGENCY OF THE CITY
OF TEMECULA
Karel F. Lindemans, Chairperson
CITY OF TEMECULA
Ron Roberts, Mayor
Attest:
Susan Jones, CMC
Agency Secretary/City Clerk
Approved As to Form:
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Peter M. Thorson
General Counsel/City Attorney
INTERNATIONAL RECTIFIER
CORPORATION, a Delaware corporation
By:
Name:
Title:
By:
Name:
Title:
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ALL-PURPOSE ACKNOWLEDGMENT
State of California )
County of Riverside )
On
appeared
, 1998, before me,
, personally
[1
[1
personally known to me -OR-
proved to me on the basis of satisfactory evidence to be the person(s) whose name(s)
is/are subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
Witness my hand and official seal.
SIGNATURE OF NOTARY
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ALL-PURPOSE ACKNOWLEDGMENT
State of California )
County of Riverside )
On
appeared
, 1998, before me,
, personally
[1
[]
personally known to me -OR-
proved to me on the basis of satisfactory evidence to be the person(s) whose name(s)
is/are subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
Witness my hand and official seal.
SIGNATURE OF NOTARY
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ATTACHMENT A
LEGAL DESCRIPTION
Parcel 5 in Parcel Map No. 19580-1, in the County of Riverside, State of California, as per
map filed in Book 125, pages I through 6, inclusive, of Parcel Maps, records of Riverside
County.
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ATTACHMENT B
REVISED EXHIBIT 3. TO OWNER PARTICIPATION AGREEMENT
EXHIBIT 3
SCHEDULE OF PERFORMANCE
(As revised by First Amendment to OPA. December 15. 1998)
Permit to Construct
Commence Construction
Issuance of Certificate of Occupancy
Phase I Equipment Installation
Completion (Certificate of Completion)
Phase II Equipment Installation Completion
Completed
Completed
January 15, 1999
June 1, 2000
December 1, 2001
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