HomeMy WebLinkAbout12-17-2015 SLO Chinatown, LLC and Hotel SLO, LLC - First Amendment to Deposit-Reimbursement Agreement12/16/2015 01:13 9252838353 RUBICON PAGE 01/01
M T A END ENT TO
REPOMR— AIM13 EBY.VT AOREEM' mT
This First Amendment to DepositlRei nbumement Agreement ( "Amendment ") is made on this .01- day of
Dcccmber, 2015, by and between the City of San Luis Obispo, a municipal corporation and Chaster City ( "City "), SLO
Chinatown, LLC, a California limited liability company (tile `"Copelands ") and hotel SLO, .LLC, a California .limited
liability company ("Hotel LLC), with respect to that certain Deposit/Reimbursement Agreement, dated as of December
2, 2015, among the City and Developer (the "Original Agreement "). As amended by this Amendment, the Original
Agreement shall sometimes tie referred to herein as the "Agi•eement." All capitalized tentns not otherwise defined herein
shall have cite mcaning given in die Original Agreement.
NOW, THERE FORE. in consideration of the following mutual promisos and agreements, City and the Developer agree
that the services provided to the City relating to the Transaction pursuant to dint ccrtaln Agreement, dated as of
December L1, 2015, between Kosmont Fc Associntes. Inc., doing business as "Kosmont Companies" (tlze "Kosmont
Consulting Agreement ") shall be included in dic Scope of Work under the Agreement and Developer agrees to reimbme
the City for its costs and expenses under the Kosmont Consolting Agreement. Upon execution of this lain, t Amendment.
Developer shall pay to City the sum of Seven Thomiand Dollars (57,000) as the estimated cost of the Kosmont
Consulting Agreement. Upon recejpt, City shall authorize Kosmont Companies to proceed.
EXcept as otherwise amended by this Amendment, all other terms oCthe Agreement shall remain in full force and effect.
IN WITNESS WHICH REOP, the parties have executed this Agreement as of the first date set forth above,
CITY OF SAN LUIS 0 I
A Municl is rporad
z3y:
Katie l,icWg
City Manager
APPROVED AS TO FORM:
THE DEVELOPER
SLO CHINATOWN, LLC.
a California limited liability company
By: r —.
Thomas M. Copeland
Its: M -unager
APPROVED AS TO FORM FOR SLO
CT4TNATOWN,LLC
Hotel SLO, .LLC
Christine Dietrick a Callfonnin limited liability company
City Atio y
By: % 13y: MEM*f17144' LCC.. 4 &WAN. 4 e::W/t .
A Russell,interfm Assistant City Atty. l #s: Manager '
APPROVED AS TO FORM FOR HOTEL
FIRST AMENDMENT TO
DEPOSIT/REIMBURSEMENT AGREEMENT
This First Amendment to Deposit /Reimbursement Agreement ( "Amendment ") is made on this 13 III day
of December, 2015, by and between the City of San Luis Obispo, a municipal corporation and Charter City ( "City "),
SLO Chinatown, LLC, a California limited liability company (the "Copelands ") and Hotel SLO, LLC, a California
limited liability company ( "Hotel LLC), with respect to that certain Deposit/Reimbursement Agreement, dated as of
December 2, 2015, among the City and Developer (the "Original Agreement "). As amended by this Amendment,
the Original Agreement shall sometimes be referred to herein as the "Agreement." All capitalized terms not otherwise
defined herein shall have the meaning given in the Original Agreement,
NOW, THEREFORE, in consideration of the following mutual promises and agreements, City and the Developer
agree that the services provided to the City relating to the Transaction pursuant to that certain Agreement, dated as
of December L-7, 2015, between Kosmont & Associates, Inc., doing business as "Kosmont Companies" (the
"Kosmont Consulting Agreement ") shall be included in the Scope of Work under the Agreement and Developer
agrees to reimburse the City for its costs and expenses under the Kosmont Consulting Agreement. Upon execution
of this First Amendment, Developer shall pay to City the sum of Seven Thousand Dollars ($7,000) as the estimated
cost of the Kosmont Consulting Agreement. Upon receipt, City shall authorize Kosmont Companies to proceed.
Except as otherwise amended by this Amendment, all other terms of the Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the first date set forth above.
CITY 0(-' SAN LUIS ISPO THE DEVELOPER
A Muni ip 'orpor
SLO CHINATOWN, LLC,
By: a California limited liability company
Katif Lichtig
City anager r
By: -Zf. mot'
At 'ST: Thomas M. Lop and
Its: Manager
nsolabehere
n City Clerk
APPROVED AS TO FORM:
Christine Dietrick
City A ney
By
nrk M. Russell, Interim Assistant City Atty,
APPROVED AS TO FORM FOR SLO
CHINATOWN,LLC
Hotel S O .,LC
a California limited liability company
By:
Its: Manager
APPROVED AS TO FORM FOR HOTEL
SLO,LLC