HomeMy WebLinkAboutResolution 2013-007 assignment and assumption of developer rights relating to Gladden Farms IIMARAI'�TA RESOLUTION NO. 2013-407
RELATING TO LIEVELOPMENT; APPROVING AND AUTHORIZII�IG THE MAYOR OR
THE TOWN MANAGER TO EXECUTE ALL LEGAL INSTRUMENTS NECESSARY OR
PRUDENT TO D4CUMENT, AUTHORIZE, AND CONSENT TO THE ASSIGNMENT AND
AS5UMPTI4N OF DEVELOPER RIGHTS, TTTLE, INTEREST, AND RESPONSIBILITIES
RELATING TO THE GLADDEN FARMS II DEVEL4PMENT PR4JECT FROM AND BY
FC/M GLADDEN II LLC AND ITS RELATED ENTITIES TO AND BY GLADDEN PHASE
II LLC AND ITS RELATED ENTITIES
WHEREAS the Gladden Farms II developrnent project covers the geographic area
depicted i.n the subdivision plat Gladden Farms Blocks 26 thru 43, recorded in the office of the
Recorder of Pima County, Arizona, at Boak 62 of Maps and Plats, Page 64; and
WHEREAS FC/M Gladden II LLC, an Arizona limited liability company, is the current
master developer of the Gladden Farms development project; and
WHEREAS FClM Gladden II LLC and its related entities ha.s entered into a contract to
sell its right, title, and interest in and to Ehe Gladden Farms II developrnent project to Gladden
Phase II LLC, a Delaware limited liability company, and its related entities; and
W�REAS the Town of Marana desires to facilitate the assignment and assumption of
developer rights, ritle, interest, and responsibilities from and by FC/M Gladden II LLC and its
related entities to a.nd by Gladden Phase II LI,C and its related entities; and
VVHEREAS the Mayar and Council find that this resolution is in the best interest of the
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NQW, THEREFORE, BE IT RESOLVED BY THE MA.YOR AND COUNCIL OF THE
TOWN OF MARANA, ARiZONA, that the Mayor and the To�vn Manager are each hereby
independently authorized and directed to execute for and on behalf of the Town of Marana all
legal instruments necessary or prudent to document, authorize, and consent to the assignment
and assumption of developer rights, title, interest, and responsibilities relating to the Gladden
Farms II development p�oject from and by FCfM Gladden II LLC and its related entities ta and
by Gladden Phase II LLC and its related entities, including without limita.tion any and a11
consents to assignment, substitutions of subdivision assurances, and estoppel certificates reiating
to agreements and legal instruments to which the Town is a party or has a legal interest and
which are determined by the Tawn Attorney (as evidenced by execution of the "approved as ta
form" block on each legai instrutnent) not to materially change the rights and responsibilities of
the Town of Mazana.
Resolution No. 2013-007 - 1- 1/82013 224 PM FC
IT IS FURTHER RESOLVED that the Town's Manager and staff are hereby directed
and authorized to undertake a11 other and further tasks required or beneficial to carry out the
terms, obligations, and objectives of this resolution.
PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN OF
MARANA, ARIZONA, this 15�' day of January, 2013.
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Ed nea, Mayor
ATTEST:
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celyn . ronson, Town Clerk
Resolution No. 2013-007 - 2- 1/&/2013 1.24 PM FC