1-DA-95 Hewlett Packard
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uncertainty in the comprehensive development planning of large-scale projects in the
City, sllch as the Project; (ii) to secure orderly development and progressive fiscal
benefits for public services, improvements and facili~ies planning in the City; (iii) to
meet the goals and objectives of the General Plan; and (iv) to consolidate, for
Owner's and City's benefit, several associated uses inco a modern, high-prestige
research and office complex within the City, at a location well served by regional
highways and local thoroughfares.
G. City's willingness to enter this Agreement ~as a material inducement to
Owner to implement the Project within the City of Cupertino, and Owner proposes to
enter this Agreement in order to obtain assurance from City that the Project may be
developed, constructed, completed and u~ed pursuant to the General Plan, subject to
the limitations expressed herein.
H.
On
June 1,
, 1993, the City Council adopted
Resolution 8884
, certifying that the 1993 General Plan Amendmer.ts ErR and
the current General Plan policies were adopted in compliance with the California
Environmental Quality Act ("CEQA").
1. 'On September 11, 1995, City's Planning Commission held a duly noticed
public hea:ing on this Agreement (i) determined thut con~ideratio!1 of this Agreement
that this AgreEment is consistent with the City's General Plan; and (iii) recommended
complies with CcQA based on certification of a negative declaration; (ii) determined
that the City Council approve this Agreement with certain amendments.
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PA1\Jll~51l.04
N\wrmbrr 6. 1995
3
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('r 111Drl,::,H;I' (":>. r('!"t:~,l'.;~'''.,\ :'-,iutwit,. '-~:1nding th(~ f(~n'i:"\r\g! [1:.1 h:"'JCh lIerer".f l.,h:1!l
defeat, render invalid, diminish or impair the lien of ilny Mortgage made in good
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shall be binding upon and effectiv~ against all persons and cntirles, inCluding all .
faith al1d for value, but all of theterm.sand~ondition5 ccmt\lii1Cd in thi!i Ag,reemerit
deed of trust ben.eficiaries or mortgagees ("Mortgagees") who acquire title to th~
Property or any portion thereof by foreclosure, tr.ustee's sale, deed in lieu of
foreclosure or otherwise.
10.2 Mortgagee Not Obligated, NlJ forEClosing Mort!t,lg~e shall have
. .
any obligation or duty under this A~eement to construct or complete the
construction of any improvemen!G required in connection with this Agreement, or fo
pay for or guarantee construction or completion thereof. City, upon rp.ceipt of a
written request, therefor from a foreclosing Mortgagee, shall permit all Mortgagees to
succeed to the rights al. :>bligations':,fOwner under this Agreement, provided that
all defaults by Owner hereunder that are reasonabl)' susceptible of being c\l~ed are
cured by the Mortgagee ;., soon asisreasonably possible. The foreclosing Mortgagee
..ner<!after shall comply with alhif the provisions of this Agreement
10.3 NQtice of Plt{jJult to Mo~agee. If City receives notice from a
Mortgagee requesting a copy of i1r.ynotice of default given to Owner hereunder and
specifying the' address for service 't!1ereof, City shall deliver to the Mortgagee,
concurrently with service thereof to'Owner,all notir.e,; given to Owner describing'all
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claims by the City that OwJ:ler has defaulted hereunder. If City determines that
Owner is in noncompliance with.this Agreemei1t, r::ityalso shall serve notice of '
pAl\J 11156,04 .
November 6. 199.5
14
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Mortg, JC shJIl have the right during the saml' period available to Owner to cure or
remedy, or to commence to cure or reml!dy,.the condition of default claimed or the;
areas of 1'l,oncompliance set forth in City's notice; _ '
11. Assignability.
11.1 Right to Assign. Owner may not assign its rights to deYelopthe
Project pursuant to this Agreement without written consent of the City, which
consent shall not unreasonably be withheld. In addition \:J any other reasonable
basis, City may withhold its consertt upon a determination that the proposed assi~ee
has insufficient assets or financial ablllty to complete or manago: the Project. Each
successor in interest to Owner shall be bound by all of the terms and provisions'
hereof applicable to that portion of the Project acquired' by it. Subject to the
foregoing, this Agret'ment shall be binding upon and inure to the benefit of the
parties' successors, assigns and legal representatives; The terms of this section 11.1
shall not restrict, prevent or otherwise affect OWner's ability to lease, sell or convey
interests in the P'roperty. This Agreement or a memorandum hereof shall be .
recorded by the City in the Santa Clara County Recorder's Office promptly.upon
exec'.1tion hereof by both parties.
11.2' No Release Unti1F~ ~Pection.Ownershall not be released
from its obligations under this Agreement with respect to each portion of the Project
transferred or assigned urttil City has issued ~ building permit for the par~culat
)ffected portion of the Project.
PAI\31IH6.04
November 6,199'
15
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City shad hdVt.: i.hc Libh~ tu ~.\t:cutc thl.~ ccrtifi(dl,eS [cql:c::;kd by (;',','1".\;[ ht.:n~undcr.
'City acknowledges that a certificate hereunder may be lelied upon by permitted
transferees and Mortgagees, At the request of Owner, the certificatF:s provided by
City establishing the status of this Agreem~nt with respect to any lot or parcel shall
be in recordable form, and Owner shall have the right to record the certificate for the
affected portion of the Property at its cost.
12.5 Counte~arts. This Agreement may be executed in countt!rparts,
each of which shall be deemed to be an o"iginal, but the counterparts tagethershall
constitute only one Agreement.
12.~ Sev~rability. Each provision of this Agl'eement whim shall be
adjudged to be invalid, void or illegal shall in no way affect, impair or invalidate any
other provisions hereof, and the other provision.'l shall remain in full force and efi'::>ct.
12.7 Further Documentll. Each party hereto agrees to execute all other
documents or i:-ltruments necessary or appropriate to effectuate and implement this
Agree~ent.
12.8 I1D\e of Essence. Time is of the essence in the performance of
every covenant and obligation ~o be performed by the parties hereunder.
12.9 Attorneys' FeeS. In the event ;)f any dispute between the parties
involving the covenants or (onditions contained in this I.greement, the prevailing
party shall be entitled to recover reasonable exp'!nses, attorneys' fees and costs.
"Prevailing party" shall include a party whobrings an ':~~,on against the other party
aft~r the other party's breach or default, if th
""11 is ;ettled or dismissed upon
Vo\IIJI1156,04
Novem~,r 6, 199'
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perfOfll1,lIlCt> of the covenants allegedly breached, Of if the plaintiff obtains
substantiollly the relief sought by it in the ilction.
12.10 Indemnity, Each party shall indemnify, hold harmless and
defend the other party for all claims for damages of any kind arising from the
indemnifying party's performance of this Agreement.
13. Notice. Except as otherwise expressly provided herein, all notices and
demands pursuant to this Agreement shall be in writing and delivered in pe~son, by
commercial courier or by firl" ,Jass certified mail, postage prepi'id and return receipt:
requested. Except as otherwise expressly provided herein, noti';es shall be
considered delivered when personally served, or upon actual receipt if delivered by
commercial courier or by mail. Notices shall be addressed as appears below for the
respective parties; provided, however, that either party may change iu; address for
purposes of this SEction by giving written notice thereof to the other piuty:
City:
City Clerk
The City of Cupertino
10300 Torre Avenue
Cupertino, California 95014
Owner:
Bay Area Real Estate Manager
Hewlett-Packard Company
3000 Hanover Street
Palo Alto, California 94304
With copy to:
Corporate CoUnsel
Hewlett-Packard Company
3000 Hanover Street
Palo Alto, California 94304
PAIIlIIH6,04
Noycmbcr 6. 199:i
19
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'I ALLUWED (uccuIJiallk Space)
96 Acres @ .33 FAR:
J33
(Donlls)
Total Allowed
ACI1JAL (Occupiable Space)
1,378
50
1,428
0.34
F.xJSTlNG
1,046
-158
0,25
Demolition (&to, 041)
New construclion
54.0
Total Occupiable at Full
Build out
. 1,428
0,34 5,Q98 (req'd @ 355/1000 sf)
5,241 (actual @3,65/1000 sf)
1:\~c.n\OIlA\T.b.
EXHIBIT C