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Riverfront Commercial Investment LLC 5/4/2021
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Riverfront Commercial Investment LLC 5/4/2021
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Last modified
2/16/2024 10:54:09 AM
Creation date
5/28/2021 10:42:27 AM
Metadata
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Contracts
Contractor's Name
Riverfront Commercial Investment LLC
Approval Date
5/4/2021
Council Approval Date
4/14/2021
Department
Legal
Department Project Manager
Tim Benedict
Subject / Project Title
First Amendment Restated Property Disposition
Tracking Number
0002018
Total Compensation
$0.00
Contract Type
Agreement
Retention Period
6 Years Then Destroy
Document Relationships
Riverfront Commercial Investment LLC 2/8/2024 Amendment
(Contract)
Path:
\Documents\City Clerk\Contracts\Agreement\Development Agreements
Riverfront Commercial Investment LLC 2/8/2024 Amendment 2 (2)
(Contract)
Path:
\Documents\City Clerk\Contracts\Agreement\Development Agreements
Riverfront Commercial Investment LLC 5/4/2021 Amendment
(Contract)
Path:
\Documents\City Clerk\Contracts\Agreement
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cinema or their affiliates, as applicable, if and only if Developer obtains the express <br /> prior written consent of the City signed by the Mayor, which consent will not be <br /> unreasonably withheld." <br /> 2 DEADLINE ADJUSTMENTS <br /> The parties agree that COVID-19 is a Force Majeure under Section 13.2 of the <br /> Agreement as to certain time periods and deadlines. Accordingly,the parties have agreed to <br /> the adjustments set forth in this Section 2. As the impacts of the COVID-19 are not yet <br /> known or complete, the parties recognize that there may be further Force Majeure delays. <br /> 2.1 First Phase Park Completion Deadline. The First Phase Park Completion Deadline is <br /> extended from 24 months after the Main Road Commencement Deadline to 36 months <br /> after the Main Road Commencement Deadline, which is November 29, 2022. <br /> Accordingly,the parties agree to the following amendments: <br /> 2.1.1 The phrase "no later than 24 months after the Main Road Commencement <br /> Deadline" in the fifth sentence of Section 1.4 of the Agreement is replaced <br /> with"no later than November 29, 2022,..." <br /> 2.1.2 The parenthetical in the first sentence of Section 2.3.3.2 is replaced with <br /> "(other than the First Phase Park Project, which must be completed no later <br /> than November 29, 2022, in accordance with 2nd DA Amendment)." <br /> 2.2 First Phase Permits and Projected Dates. The parties have agreed to extend certain <br /> dates relating to the First Phase as follows: <br /> 2.2.1 Section 2.2 First Phase Permits is hereby deleted and replaced with the <br /> following: <br /> Developer has submitted complete permit applications to the City and other <br /> necessary government jurisdictions for two mixed-use buildings,the plaza,the <br /> parking, and the First Phase Park Project. <br /> 2.2.2 In Agreement Section 2.3.1,the sentence that states"As of the Effective Date, <br /> this date is expected to be no later than December 31, 2019 with respect to <br /> some First Phase Key Elements and December 31, 2020 with respect to all <br /> First Phase Key Elements" is replaced with "This date is expected to be later <br /> than June 30, 2021 for the First Phase Key Elements except for the grocer, <br /> which is anticipated to be no later than June 30,2022." <br /> 2.2.3 In Agreement Section 2.3.3.2, the sentence that states "As of the Effective <br /> Date,this date is expected to be no later than June 30, 2021" is replaced with <br /> "This date is expected to be no later than December 31,2023." <br /> 2.3 Remaining Phases. The parties have agreed to extend certain dates relating to the <br /> Remaining Phases as follows: <br /> 3 <br />
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