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Home My WebLink AboutResolution 2004-106 second amendment to development agreement to the saguaro ranch east pre-annexation and development agreementMARANA RESOLUTION NO. 2004-106 RELATING TO DEVELOPMENT; APPROVING AND AUTHORIZING THE EXECUTION OF A SECOND AMENDMENT TO THE SAGUARO RANCH pRE-ANNEXATION AND DEVELOPMENT AGREEMENT. WHEREAS, the Town entered into the Saguaro Ranch Pre-annexation and Development Agreement recorded June 27, 2003, in the Office of the Pima County Recorder at Docket 12081, page 8329 (the Original PADA); and WHEREAS, paragraph 2.35 of the Original PADA required the developer to pay the Town $1,000,000 for public park facilities and trails between January 15, 2004, and June 1, 2004; and WHEREAS, the Developer has requested additional time to make the payment; and WHEREAS, the Mayor and Council find that the terms and conditions of the Second Amendment to the Saguaro Ranch Pre-annexation and Development Agreement attached to and incorporated by this reference in this Resolution as Exhibit A (the "Second Amendment") are in the best interest of the Town. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, AS FOLLOWS: SECTION 1. The Second Amendment is hereby approved. SECTION 2. The Mayor is hereby authorized and directed to execute, and the Town Clerk is hereby authorized and directed to attest to, the Second Amendment for and on behalf of the Town of Marana. {00000056.DOC~ 719/04 FJC SECTION 3. The various Town officers and employees are authorized and directed to perform all acts necessary or desirable to give effect to this resolution. PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, this 3rd day of August, 2004. ATTEST: /ocelyn (/. Bronson, T~wn Clerk Mayor BOBBY SUTTON, JR. ~APPROVED AS TO FOra: 7/9/04 FJC {00000056.DOC/) F. ANN RODRIGUE~ECORDER RECORDED BY: D 1 DEPUTY RECORDER 7864 PEl DOCKET: 12358 PAG~ 2953 NO. PAGES: 4 SEQUENCE: 20041500794 08/04/2004 AAG 15:53 SMARA TOWN OF MARANA ATTN: TOWN CLERK 13251 N LON ADAMS RD MARANA AZ 85653 PICKUP AMOUNT PAID $ 10.00 TOWN OF MARANA SECOND AMENDMENT TO SAGUARO RANCH PRE-ANNEXATION DEVELOPMENT AGREEMENT THIS SECOND AMENDMENT TO SAGUARO RANCH PRE-ANNEXATION DEVELOPMENT AGREEMENT (this "Second Amendment") is made and entered into this_ day of July, 2004, by and between the TOWN OF MARANA, an Arizona municipal corporation (the "Town"), TITLE SECURITY AGENCY OF ARIZONA, an Arizona corporation, as Trustee of its Trust Numbers 773 and 787 only and not in its corporate capacity ("Title Security"), SAGUARO RANCH INVESTMENTS, LLC, an Arizona limited liability company ("SRI"), and SAGUARO RANCH DEVELOPMENT CORPORATION, an Arizona corporation ("SRDC"). The Town, Title Security, SRI and SRDC are sometimes collectively referred to as the Parties. Title Security, SRI and SRDC are sometimes collectively referred to as the Developer. RECITALS A. The Town, Title Security and SRI entered into a certain Saguaro Ranch Pre- Annexation Development Agreement recorded June 27, 2003, in the Office of the Pima County, Arizona, Recorder at Docket 12081, Page 8329 (the "Original PADA"). B. The Town, Title Security and SRI entered into a certain First Amendment to the Saguaro Ranch Pre-Annexation Development Agreement on April 6, 2004, and recorded April 12,2004, at the Office of the Pima County Recorder at Docket 12278, Page 3161 (the "First Amendment"). C. SRDC is included as Developer under this Second Amendment by virtue of its acquisition of the entire beneficial interest of Title Security Trust Number 773. D. Paragraph 2.35 of the Original P ADA provides for the Developer to make a contribution to the Town in the amount of$l,OOO,OOO (the "Contribution"). jl ~~i ,<. :3: Ei. ,~:\. 1~,,,,lj E. The Parties desire to allow additional time for the Developer to make the Contribution and to make additional provisions relating to the payment of the Contribution. AGREEMENT f$ =!~ 1;'. ~:' ';1';'\1 :3 In consideration of the foregoing recitals, which are incorporated here by this reference as the intent of the Parties in entering into this Second Amendment, and for other valuable {00000032.DOC / 3} Second Amendment to Saguaro Ranch Development Agreement - 1 - 7/13/20049:29 AM \" I r consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 1. Paragraph 2.35 of the Original PADA is amended to provide that the Developer's obligation to pay $1,000,000 as the Contribution is replaced with a requirement that the Developer shall pay $1,050,000 to the Town not later than February 15, 2005, and that if such payment is not made by that date, the Developer shall pay $1,100,000 to the Town not later than June 15,2005. 2. If the Developer fails to comply with paragraph 1 of this Second Amendment, until such time as the Contribution, as it has been increased by paragraph 1 of this Second Amendment, plus a penalty of $1000 per calendar day from and after June 16, 2005, is paid in full, the Town is expressly authorized to withhold all further permits, development approvals and certificates of occupancy requested for those lots of Lots 9-52 of Saguaro Ranch, a subdivision of Pima County, Arizona, according to the Plat of record in Book 57 of Maps and Plats at Page 57 (such Lots 9-52 being referred to herein as the "Lots"), owned by the Developer as of June 15, 2005. Notwithstanding the foregoing, the provisions of paragraph 8.8.2 of the Original PADA shall remain in full force and effect except with respect to the last ten (10) ofthe unsold Lots, and Title Security expressly agrees that it will not convey title to any of the last ten (10) ofthe unsold Lots out of the Trust without prior written consent of the Town. This provision shall not prohibit Title Security from conveying the Lots out ofthe Trust for the purpose of encumbering the Lots by the recording of mortgages or deeds of trust, provided that the Lots are thereafter immediately reconveyed back into the Trust. 3. All other provisions of the Original PADA as amended by the First Amendment remain unchanged and continue in full force and effect. 4. This Second Amendment is subject to A.R.S. ~ 38-511, which provides for cancellation by the Town in certain instances involving conflicts of interest. 5. This Second Amendment shall be recorded by the Town in the Office of the Pima County Recorder no later than ten days after its execution. 6. This Second Amendment may be executed in counterparts, with the Parties signing separate sheets which, when combined, shall be treated in all respects as a single document. SIGNATURES FOLLOW ~~. ;t " ,.. '~~ ~j; :E~: t;; ~~" .~~",i ...>1' 1:::; 1;1' {00000032.DOC / 3} Second Amendment to Saguaro Ranch Development Agreement - 2 - 7/13/20049:29 AM THE TOWN: THE DEVELOPER: ATTEST: TITLE SECURITY AGENCY OF ARIZONA, an Arizona corporation, as Trustee under its Trust Numbers 773 and 787 only, and not in its corporate capacity BY:~ci~ Leslie D. Hogg, Trust cer TOWN OF MARANA, an Arizona municipal corporation B~M~' +::,/' Bobby Sutton, Jr., Mayor SAGUARO RANCH INVESTMENTS, LLC, an Arizo a limited liability company By: ~ SAGUARO RANCH DEVELOPMENT coro:~l~' an ~na coq>>ration <c c I ccC~ By: c...,1, L-/ tftle: Vi nrp/-.. f. f q,..,.,.Jl i STATE OF ARIZONA: ) ) ss. COUNTY OF PIMA ) The foregoing instrument was acknowledged before me this Jk ~ of July, 2004, by Leslie D. Hogg, as Trust Officer of TITLE SECURITY AGENCY OF ARIZONA, an Arizona coq>>ration, as Trustee under it~bers 773 and 787 only, and not in its coq>>rate capacIty. c / I jl ~,; 1.~ .l: t~ ",,jJ i,::i: I",W' My co J i) Official Seal tic c.' ~ '2c~~ f~'~~~A ':"::( ~ty of Pima JUC'i!-1 C. SUSALLA ~. My CommisslonE,,~ rts ::ecember 10, 2004 ~?'22~>--~..}'---~:-.Y^~~-':,~-?'2:~....r~~: t~ ~:;.: 1:.1 ~~ t~, .",.(1 {00000032.DOC / 3} Second Amendment to Saguaro Ranch Development Agreement - 3 - 7/13/20049.'29 AM STATE OF ARIZONA ) ) ss. COUNTY OF PIMA ) The foregoing instrument was subscribed, sworn to and acknowledged before me this /i ~ day of July, 2004, by ~r::1iiYv~V'" ' as Authorized Signatory of SAGUARO RANCH INVESTMENTS, L.L.C., an Arizona limited liability company. \,'{ \.v-';,,,- c5\'cl~vVl')... Notary Public My commission expires: ,'"'ffj (I.al, S"e".: == I~,~,'.':.j~..~~..'.'. ~-'- Ict::_ NOTARY PUBLIC STATE OF AKlZCNA County Of P,~c DEBRA STEBBINS , t~y Comm~ssiO~ Expires Jl!I;,:;.:3::lL~.,:' STATE OF ARIZONA ) ) ss. COUNTY OF PIMA ) The foregoing instrument was subscribed, sworn to and acknowledged before me this 11~ day of July, 2004, by:u;.r.-"1a'vv-4.V- , aSV;CLPp.r;J.,.J-~.u.{ of SAGUARO RANCH DEVELOPMENT CORPORATION, an Arizona corporation. T)LQl,\lA. .:;:.)ktJ.~ Notary Public My commission expires: ~ ";aI Sea' NOTARY PUBl!(" STfiTF. OF ARIZONA " ~"~ County of PIITla ~:: . DEBRA STEBBTNS i. : "y;>~;)~nl:_?Sjqn Ex:> :i:.~ ~u!v 6 1 ic-,~ 7 " ~ ~ ,- ".,.~.... ';.;Jr {00000032.DOC / 3} Second Amendment to Saguaro Ranch Development Agreement - 4 - '(, ..~ ,,} ;i. ~: ''"~' t~1 ~.,. LW :~~ C~ "W (", ,~,; i~~; '1.,'1 7/13/20049:29 AM