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<br />EXCLUSIVE NEGOTIATION AGREEMENT BETWEEN THE CITY OF <br />FULLERTON, FULLERTON REDEVELOPMENT AGENCY AND THE <br />FULLERTON FLYERS LLC FOR THE DEVELOPMENT OF A MUL TI- <br />SPORTS FACILITY AT DUANE WINTERS FIELD <br /> <br />THIS EXCLUSIVE NEGOTIATION AGREEMENT ("Agreement" or "ENA") is <br />entered into this 5th day of January, 2011, between the CITY OF FULLERTON, a <br />California municipal corporcf ion (" ity") , the FULLERTON REDEVELOPMENT <br />AGENCY, a public body, corporate and politic ("Agency"), and FULLERTON FLYERS, <br />LLC, a Delaware limited liability company d/b/a/ Orange County Flyers ("Developer") <br />(hereinafter City, Agency, and Developer are periodically referred to collectively as the <br />"Parties" or individually as a "Party"). <br /> <br />RECITALS <br /> <br />The following Recitals are a substantive part of this Agreement: <br /> <br />A. City is the owner of a baseball park known as Duane Winters Field, <br />located at 340 West Commonwealth Avenue, Fullerton, California, 92834, as more <br />particularly depicted by the project site map in Attachment "1" hereto, incorporated <br />herein by this reference (the "Property"). <br /> <br />B. Developer has represented to City and Agency that it <br />independently, without any involvement whatsoever of the City or Agency, may seek to <br />acquire by negotiated purchase and sale with third party property owners other parcels <br />of real property located adjacent to or near the Property (the "Adjacent Site(s)"). None <br />of the Adjacent Sites are subject to this Agreement; provided, however, that in the event <br />that Developer, in its sole name and under its sole discretionary authority, acquires a <br />legal or equitable interest in anyone or all of the Adjacent Sites, then the Parties may <br />amend this Agreement to include any of said sites, in accordance with this Agreement. <br /> <br />C. City, Agency and Developer have conducted discussions <br />concerning the possible development of the Property, and the Parties now wish to <br />proceed with the planning process as set forth in this Agreement. <br /> <br />D. The purpose of this Agreement is to provide for a period of <br />exclusive negotiations during which City, Agency and Developer will cooperate on <br />various tasks as set forth in this Agreement to achieve the development of an interim <br />and permanent multi-sports facility at the Property. <br /> <br />COVENANTS <br /> <br />NOW, THEREFORE, based on the foregoing Recitals, which are incorporated <br />herein by this reference, and for good and valuable consideration, the receipt and <br /> <br />2465/061334.0010 <br />108049305 a12/20/10 <br />