24-1200

Approve and authorize the Chairman to execute Amendment No. 3 to Lease Agreement No. 22-059 with Heritage Centre, LLC, to allow for execution of the Purchase and Sale Agreement, effective upon execution, with no change to the term of March 1, 2022, through February 29, 2032, and no change in the maximum compensation of a total of $49,270,212; Approve and authorize the Chairman to execute the Purchase and Sale Agreement with Seller for the County’s purchase of Property located at 3109, 3115, 3119, 3121, 3127, 3133, 3147, 3151, and 3155 N. Millbrook Avenue and 3676 and 3708 E. Shields Avenue, CA 93726 (APN 445-020-07, 445-020-09 and 437-290-60) (“Property”) from Seller, with an expected closing date of May 1, 2032, for the sum of $1,000,000 (“Purchase Agreement”); and Authorize and direct the Director of the Internal Services Department/Chief Information Officer, or their designee, to take any action as deemed necessary or appropriate, all of which shall be consistent with the Purchase Agreement, and the foregoing Board approvals and actions, to: a. Open, carry out, and close escrow for the County’s purchase of the Property from Seller; deliver the County’s refundable $100,000 deposit into escrow; deliver the County’s acceptance of Seller’s Grant Deed; and obtain title insurance in favor of the County for the Property in the amount of the purchase price of the Property at escrow closing; b. Review, approve, execute, and/or deliver any agreements, documents, certificates, notices, and instruments, and any amendments to any of the foregoing (subject to prior review and approval as to legal form by County Counsel, and, as applicable, as to accounting form by the County Auditor-Controller/Treasurer-Tax Collector), and to take any other actions to initiate, carry out, and finalize the County’s purchase of the Property from the Seller; and c. Perform any other obligations, or exercise any other rights, of County under the Purchase Agreement to finalize the County’s purchase of the Property

Agenda Item Approved Introduced October 8, 2024

What this record is

Held by: Heritage Centre, LLC 3 records across this site
Amount: $49.3M
Runs until: February 29, 2032 6 years away date quoted from the award document
Type: amendment
Field: Real estate

Read automatically from the title of the official record. The source document below is authoritative.