LIN - ACQUISITION DOCUMENTS - Laserfiche WebLink

FIRST AMENDMENT TO THE ACQUISITION AGREEMENT THIS FIRST AMENDMENT amends that certain Acquisition Agreement between the City of Pleasanton (City) and Chang Su-O-Lin, Hong Lien Lin and Hong Yao Lin (Lips) and is entered into on January 2, 1996. RECITALS WHEREAS, on July 21, 1992, City and the Lins entered into an Acquisition Agreement (the Agreement) for the City's purchase of property owned by the Lins; and WHEREAS, the Agreement provides that the City will pay to the Lins the full purchase price by December 31, 1995, if a Joint Use/Operation Agreement between the City and the Dublin San Ramon Services District (DSRSD) is not consummated by December 31, 1995; and WHEREAS, the City, DSRSD and the Lins have agreed to extend to June 30, 1996 the date for the City and DSRSD to attempt to reach agreement as to the Joint Use/Operation Agreement; and WHEREAS, the parties desire to extend the City's payment date in this Agreement as well; and WHEREAS, if agreement cannot be reached as to the joint use and operation, the parties have agreed that certain property heretofore transferred to the City is to be returned to the Lins as such property will not be necessary for the City's reservoir; NOW, THEREFORE, in consideration of the mutual promises expressed in the Acquisition Agreement and in this Amendment, the parties agree as follows: 1. Section 2.3 is hereby amended to read as follows: "Section 2.3 Payment by City. Payment by CITY to LIN shall be made as follows: (a) The entire sum shall be paid to LIN as cash on or before December 31, 1996. (No change to subsection (b))."