FIELD DOCUMENTS - Laserfiche WebLink

Home Browse Search

FIRST AMENDMENT TO AGREEMENT REGARDING SITE ACCESS,WORK PLANS AND INDEMNIFICATION RELATED TO PIPELINE THIS FIRST AMENDMENT TO THE AGREEMENT REGARDING SITE ACCESS, WORK PLANS AND INDEMNIFICATION ("Amendment") is entered into by and among SHELL OIL COMPANY, a Delaware company, doing business as Shell Oil Products US ("Shell"), THE JOE J. AND LILLIAN E. MACHADO FAMILY TRUST, dated March 17, 1993, and restated May 17, 1993 ("Machado"), and GLOBAL INVESTMENT & DEVELOPMENT, LLC, a California limited liability company ("Global") concerning the real property development project known as the Mountain House Community located in western San Joaquin County, California (the "Project"), and which property is further identified in Exhibit "A"to the Original Agreement(the "Property"). Machado, Global and Shell are sometimes collectively referred to herein as the "Parties" and singularly as a "Party." Specifically, the Parties wish to address the ongoing remediation that Shell is performing in cooperation with Machado and Global. WHEREAS, the Parties executed the Agreement Regarding Site Access, Work Plans and Indemnification, dated 6-8-06 (the "Original Agreement"); and WHEREAS, on July 20, 2006, Global terminated its option to purchase the Property, all escrows have been cancelled, and Global has withdrawn from all aspects of the Project as of the date stated herein; and WHEREAS, it is no longer necessary for Global to participate in activities or approvals with regard to the Project, as described in the Original Agreement; and WHEREAS, notwithstanding Global's termination of its option to purchase the Property, Machado intends to complete the Project and is currently seeking other developers to invest in the Project; and WHEREAS, the Original Agreement requires all amendments to be in writing and to be signed by all Parties. NOW THEREFORE, in consideration of good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and the material promises contained herein, the Parties hereto agree as follows: 1. Amendment to Original Agreement. This Amendment amends the Original Agreement. Except as expressly set forth herein, all terms and conditions of the Original Agreement shall remain in full force and effect. I 207060.2—10-19-06 FINAL