City Council:
SECOND AMENDMENT TO
LAND DISPOSITION AGREEMENT
This Second Amendment to Land Disposition Agreement, which amendment is dated May __, 2025 ("Second Amendment"), amends that certain Land Disposition Agreement, dated July 2, 2021, as amended ("Agreement"), by and between the CITY OF MOUNT VERNON, a New York municipal corporation with offices at City Hall, 1 Roosevelt Square N, Mount Vernon, New York, 10550 ("City"), and 20 S. 2ND SQUARE CMV, LLC, a New York limited liability company with an office at 21 Lorraine Terrace, #141, Mount Vernon, New York 10553 ("Purchaser," together with the City, the "Parties").
RECITALS:
WHEREAS, the Parties previously entered into the Agreement, as amended by that certain First Amendment to Land Disposition Agreement, dated July 12, 2023; and
WHEREAS, the Parties are desirous of further amending the Agreement to extend the time by which the Conditions Precedent are required to be satisfied or waived pursuant to Article V of the Agreement; and
WHEREAS, the Parties agree that an extension of the Agreement is necessary and desirable to facilitate the Project that is the subject of the Agreement.
NOW, THEREFORE, the City and Purchaser agree, as follows:
I. Defined Terms. Unless stated specifically herein to the contrary, all undefined capitalized words in this Second Amendment shall have the meanings provided in the Agreement.
II. Amendment to the Agreement.
1. The last sentence of Section 5.1(f) shall be amended so that it shall begin with the words: "In the event that these Conditions Precedent set forth above are not satisfied or waived by the date which is sixty (60) months from the date of this Agreement . . ."
II. Miscellaneous.
1. Except as modified by this Second Amendment, there are no other amendments or modifications to the Agreement, and all unchanged terms and conditions set forth in the Agreement are in full force and effect and shall continue ...
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