Examples of Former RDA in a sentence
The Original DDA was further amended by that certain Third Amendment to Disposition and Development Agreement effective as of February 19, 2009 (“ Third Amendment”) pursuant to which (i) the Former RDA acquired property from Developer (which property was held and to be re-acquired at a later date by Developer), and(ii) the Former RDA provided an advance of developer reinvestment funds in the form of a loan to Developer, and (iii) the Parties amended the Schedule of Performance.
The Former RDA was dissolved by law and the present Successor Agency was formed pursuant to Health & Safety Code §34167.5, which made the Agency the successor-in-interest to all assets and obligations of the Former RDA.
Further, the Former RDA was to reimburse Developer for the cost to install improvements in the public right of way such as curbs, gutters, sidewalks, landscaping, public courtyards, and utilities.
For this reason, both the Property and all obligations and rights of the Former RDA as memorialized in the DDA are now held by the Agency, and all references to “Agency” made in the DDA shall be construed as applying to the Agency executing this Fourth Amendment.
The Original DDA was further amended by that certain Second Amendment to Disposition and Development Agreement effective as of September 18, 2007 (“ Second Amendment”) in order to further amend the Schedule of Performance and to provide for the release to the Former RDA of the Deposit (as defined therein) under specified circumstances.