Hahn v. Kang CA1/3
Alex Hahn, Hahn Development, LLC, and Hahn & Kang Equity I, limited partnership appeal from a judgment entered in favor of cross defendants and respondents AMG & Associates, LLC, AMG Investment & Development Services, Inc., and Alexis Gevorgian. The dispute arose from AMG’s agreement to buy from Hahn two vacant lots which AMG wanted to develop into a mixed-use residential and retail complex. Lingering contamination on the property complicated the deal and made the development effort more onerous and expensive. As a result, the parties entered into a series of agreements modifying their original agreement. One addendum affirmed Hahn’s responsibility to address the contamination and made completing the environmental cleanup a condition precedent to AMG’s closing of escrow. Another addendum was contingent upon AMG loaning Hahn $60,500 secured by a deed of trust for the property. A subsequent addendum purported to extend the repayment deadline for the $60,500 loan.
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