HomeMy WebLinkAboutURA RES 2016-52 RESOLUTION NO.2016-52.
APPROVE RESOLUTION AUTHORIZING THE PURCHASE & SALE
AGREEMENT ADDENDUM WITH FRESCA MEXICAN FOODS, LLC
EXTENDING THE DUE DILIGENCE PERIOD FOR AN ADDITIONAL 60 DAYS
ENDING JANUARY 13,2017
IT HEREBY RESOLVED by the Urban Renewal Agency of the City of Caldwell to
approve the Purchase and Sale Agreement ADDENDUM with Fresca Mexican Foods,
LLC made a part hereof as set forth in full.
PASSED BY THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL this 14th day of November, 2016.
APPROVED BY THE CHAIRMAN OF THE URBAN RENEWAL AGENCY OF
THE CITY OF CALDWELL on this 14th day of November, 2016.
APPROVED:
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Chairman /
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November 7,2016
VIA E-MAIL AND FACSIMILE
The Urban Renewal Agency of the City of Caldwell,Idaho
Attn: Debbie Geyer
411 Blaine St.
Caldwell,Idaho 83605
Fax: (208)455-3003
Email: dgeyer(r_eityofcaldwell.org
Re: Purchase and Sale Agreement,dated effective August 29,2016,and the Addendum
to Purchase and Sale Agreement(collectively,the"PSA"),by and between The
Urban Renewal Agency of the City of Caldwell Idaho ("Seller")and Fresca Mexican
Foods,LLC ("Buyer")
Dear Ms. Geyer:
Pursuant to Section 5.4 of the PSA,Buyer exercises its right to extend the Due Diligence
Review Period for an additional 60 days. The extended Due Diligence Review Period will end
on January 13, 2017. Buyer will deposit the Additional Earnest Money with the Closing Agent.
Capitalized terms used but not defined in this letter have the meanings set forth in the
PSA.
FRESCA MEXICAN FOODS,LLC
By: a,--
Andrew Savin,CEO
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