192-18 Exhibit - First Amendment to Interim Redevelopment Agreement between Township of West Orange and the Alpert Group LLC.pdf

REV. 8/13/18 FIRST AMENDMENT TO INTERIM REDEVELOPMENT AGREEMENT BETWEEN TOWNSHIP OF WEST ORANGE AND THE ALPERT GROUP, LLC. WHEREAS, on March 7, 2017, the Township Council adopted Resolution 74-17 which authorized the Mayor to execute the Interim Redevelopment Agreement (the “Resolution”); WHEREAS, on March 7, 2017, the Township of West Orange entered into an Interim Redevelopment Agreement with the Alpert Group, LLC (“Alpert” or “Interim Redeveloper”); WHEREAS, the Interim Redevelopment Agreement remains in full force and effect; WHEREAS, the Interim Redevelopment Agreement involves certain Parcels as defined in the Interim Redevelopment Agreement; WHEREAS, one of the Parcels is certain property commonly known 8-10 Central Avenue, West Orange, New Jersey designated as Lot 32, Block 9 on the Tax Map of the Township of West Orange (the “Property”); WHEREAS, Valley Road Residential Urban Renewal, LLC (“VRRUR”) is developing the project contiguous to the Property; WHEREAS, the Township and Alpert seek to enter into this amendment to further their mutual interests; NOW, THEREFORE, for and in consideration of the mutual promises, covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the parties, and for the benefit of the parties hereto and general public, and, further to implement the purposes of the Local Redevelopment and Housing Law and the Redevelopment Plan, the parties hereto agree as follows: 1. The parties reaffirm all terms and conditions of the Interim Redevelopment Agreement which remains in full force and effect.