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HISTORIC MISSION INN CORP.
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5/9/2008 10:15:45 AM
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1/29/2001 11:38:38 AM
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Contracts
General 2 - Date
12/21/2000
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RECORDING REQUESTED BY: <br />AND WHEN RECORDED MAIL TO: <br /> <br />The Redevelopment Agency of the <br />City of Riverside <br />3900 Main Street <br />5th Floor <br />Riverside, CA 92522 <br />Attention: Agency Secretary <br /> <br />Project: Historic Mission Inn DDA <br /> <br />DOC # 2000--510121 <br /> 12/22/2000 08:00A Fee:NC <br /> <br /> Gary C. Orso <br /> Assessor, County Clerk & Recorder <br /> <br /> CERTIFICATE OF COMPLIANCE I .kl C 1 <br /> THIS CERTIFICATE OF COMPLIANCE is made by the Redevelopment Agency ofthe~/~$ <br />City of Riverside, a public body, corporate and politic (the"Agency"), in favor of Historic <br />Mission Inn Corporation, a California corporation ("Developer") as of the date set forth below. <br /> <br />Recitals <br /> <br /> WHEREAS, in accordance with the terms of that certain Disposition and Development <br />Agreement By and B et~veen Redevelopment Agency of the City of Riverside, Agency, and <br />Historic Mission Inn Corporation, Developer dated December 23, 1992, and the Memorandum of <br />Understanding dated November 19, 1998, the Amendment No. 1 to Memorandum of <br />Understanding dated November 3, 1999 and the First Implementation Agreement to the <br />Disposition and Development Agreement By and Between the Redevelopment Agency of the <br />City of Riverside and Historic Mission lnn Corporation dated November 16, 1999 (hereinafter <br />altogether referred to as the "DDA") by and between the Redevelopment Agency of the City of <br />Riverside ("Agency") and Historic Mission Inn Corporation, a California corporation <br />("Developer"), Developer is required to complete the restoration of the Mission Inn as a first <br />class hotel, on property legally described in Exhibit A attached hereto (the "Site"); and <br /> <br /> WHEREAS, Developer has satisfactorily completed the purchase and the completion of <br />the restoration of the Site known as the Mission Inn, located within the Riverside Mall and White <br />Park Redevelopment Project Area according to the terms and conditions of the DDA; and <br /> <br /> WHEREAS, pursuant to Section 317 of the DDA, Agency is to provide Developer with a <br />Certificate of Compliance upon the repayment of the Agency advance in the amount of <br />$1,000,000, as set forth in Section 204 of the DDA, and the termination of Agency's Guaranty <br />obligations as set lbrth in Section 205 and upon Developer's written request for a Certificate of <br />Compliance; and <br /> <br /> <br />
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