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Last modified
2/16/2024 1:01:47 PM
Creation date
2/16/2024 12:59:43 PM
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Planning Files
Planning Files - Planning File #
1904
Planning Files - Type
Planning-Other
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AMENDMENT TO AGREEMENT WITH REGARD TO LEXART ADDITION <br />THIS AGREEMENT is made and entered into by and between the <br />City of Roseville (hereafter the "City") and Gerald H. Kaufhold, <br />or his assigns, (hereafter "Kaufhold") to be effective the <br />day of Y/hC , 1988. <br />WHEREAS, the City and Kaufhold have entered into an <br />Agreement, a copy of which is attached hereto as Exhibit <br />The purpose of the Agreement attached hereto was to provide the <br />conveyance of certain land by Kaufhold to the City. <br />WHEREAS, a company known as Lexart Properties Co. ("Lexart") <br />is to receive a conveyance of land from Independent School <br />District 623 and in that conveyance contains one acre of land <br />that Independent School District 623 is obligated to convey to <br />the City, a legal description of said one acre being attached <br />hereto as Exhibit "B". <br />WHEREAS, it is the intention of the parties that when the <br />conveyances are complete, that, in accordance with the Agreement <br />attached hereto, the additional one acre of land conveyed to <br />Lexart by the School District will be conveyed to the City by <br />Lexart. <br />NOW, THEREFORE, IT IS HEREBY AGREED BY AND BETWEEN THE <br />PARTIES AS FOLLOWS: <br />1. The Agreement attached hereto is amended as follows: <br />a. The obligations of Kaufhold will be to convey, in <br />addition to the land set forth in the agreement, <br />the additional one acre of land that Independent <br />School District 623 was obligated to convey to the <br />City. The description of the additional one acre <br />of land to be conveyed by Kaufhold to the City is <br />found on Exhibit "B" which is attached hereto and <br />made a part hereof. If the title to the <br />additional one acre of land is in a corporate or <br />partnership name, then the corporation or <br />partnership will make the conveyance. <br />b. The closing on this shall occur within 10 days of <br />the filing with the County Recorder of the plat <br />of Lexart Addition, or, in the event Kaufhold <br />choses to not exercise his option to declare the <br />Agreement void as permitted by Section 9, then, on <br />May 12, 1989. <br />C. The purchase price on the property referred to in <br />Paragraph 2 of the Agreement shall be increased by <br />an amount equal to the accrued interest on <br />$118,000 at the rate of interest earned by the <br />
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