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HomeMy WebLinkAboutRP 16-05; Carlsbad Village Investors LP; 2025-0089080; Affordable Housing-Regulatory Agreement & Dec. of Restrictive CovenantsNO CHARGE ON THIS DOCUMENT FOR THE BENEFIT OF THE CITY OF CARLSBAD Recording Requested By: th,''-~ r,k ~J//1~ When Recorded Mail To: City of Carlsbad City Clerk's Office Attn: City Clerk 1200 Carlsbad Village Drive Carlsbad, CA 92008 DOC# 2025-0089080 111111111111 lllll 11111111111111111111111111111111111111111111111111111 Apr 08, 2025 10:33 AM OFFICIAL RECORDS JORDAN Z. MARKS, SAN DIEGO COUNTY RECORDER FEES: $0.00 (SB2 Atkins: $0.00) PCOR: N/A PAGES: 8 FIRST AMENDMENT TO REGULATORY AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS THIS FIRST AMENDMENT TO REGULATORY AGREEMENT AND DECLARATION OF RESTRICTIVE COVENANTS ("Amendment") is dated as ofthettday of March, 2025, by and among Carlsbad Village Investors L.P . ("Developer 1 ") and Wermers Carlsbad Village, LLC ("Developer 2") and the City of Carlsbad ("City"). RECITALS A. Developer 1 and Developer 2 are the owners of that certain real property in the City of Carlsbad, County of San Diego, California, which real property is encumbered by that certain Regulatory Agreement and Declaration of Restrictive Covenants ("Regulatory Agreement") between the City and the predecessor-in-interest to Developer 1 and Developer 2, dated as of August 10, 2021, and recorded in the Office of the Recorder of the County of San Diego, State of California on August 20, 2021, as Instrument No. 2021-0595517. B. Developer 1, Developer 2 and City desire to amend the Regulatory Agreement as set forth in this Amendment. NOW, THEREFORE, in consideration of their mutual promises and for full, adequate and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Developer 1, Developer 2 and City hereby amend the Regulatory Agreement and agree, promise and declare as follows: 1 1. Restatement of Exhibit "A" Property Description. The definition of the term Property," as defined in the Regulatory Agreement, and as set forth on Exhibit "A" to the Regulatory Agreement, is hereby amended and restated in its entirety to provide as follows: PARCEL A OF PARCEL MAP NO. 21619, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, FILED IN THE COUNTY RECORDER OF SAN DIEGO COUNTY ON SEPTEMBER 12, 2018 AS FILE NO. 2018-7000347 OF OFFICIAL RECORDS. APN: 230-320-39-00; 230-320-49-00; 230-320-50-00; and 230-320-52-00 NONEXCLUSIVE EASEMENTS FOR PEDESTRIAN AND VEHICULAR ROADWAY, RIGHT-OF-WAY, ACCESS, SERVICE AND INGRESS AND EGRESS PURPOSES OVERA PORTION OF PARCEL B OF PARCEL MAP NO. 21619, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STA TE OF CALIFORNIA, FILED IN THE COUNTY RECORDER OF SAN DIEGO COUNTY ON SEPTEMBER 12, 2018 AS FILE NO. 2018-7000347 OF OFFICIAL RECORDS, SAID EASEMENTS ARE FULLY SET FORTH AND SUBJECT TO THE TERMS AND PROVISIONS CONTAINED IN THAT CERTAIN RECIPROCAL ROADWAY GRANT OF EASEMENTS AND EASEMENT AGREEMENT RECORDED SEPTEMBER 14, 2018 AS INSTRUMENT NO. 2018-0384167 OF OFFICIAL RECORDS. 2. Release of Other Property. Except for the Property described in Paragraph 1, above, of this Amendment, any and all real property described in the Regulatory Agreement, shall no longer be and is not encumbered by the Regulatory Agreement. 3. No Novation. This Amendment is made with respect to the Regulatory Agreement only; nothing contained herein or in any of the documents executed in conjunction herewith, shall be deemed an amendment, novation, waiver, exoneration, revision or restatement of any other contract, instrument, deed of trust or agreement between the Developer 1, Developer 2 and/or City, or any portions thereof, and the same shall remain in full force and effect, notwithstanding the execution and recordation hereof. 4. General Provisions. (a) Counterparts. This Amendment may be executed in any number of counterparts and, as so executed, the counterparts shall constitute one and the same agreement. The parties agree that each such counterpart is an original and shall be binding upon all the parties, even though all of the parties are not signatories to the same counterpart. (b) Conflicts. In the event of any confl.ict between the Regulatory Agreement or any document executed in conjunction therewith and this Amendment, this Amendment shall control. 2 ( c) Recitals Incorporated. The Recitals to this Amendment are hereby incorporated into this Amendment by this reference. ( d) Severability. If any provision of this Amendment is deemed to be invalid or unenforceable by a court of competent jurisdiction, that provision shall be severed from the rest of this Amendment and the remaining provisions shall continue in full force and effect. (e) Signature Authority. All individuals signing this Amendment for a party which is a corporation, partnership, limited liability company or other legal entity, or signing under a power of attorney, or as a trustee, guardian, conservator, or in any other legal capacity, covenant to the other parties hereto that they have the necessary capacity and authority to act for, sign and bind the respective entity or principal on whose behalf they are signing. DEVELOPER 1: Carlsbad Village Investors L.P., a California limited partnership By: Carlsbad Village Investors Genpar, LLC, a California limited liability company, its general partner By: R& V Management Investment Corporation, a Califo ·a corporation, its Non-Member Manager DEVELOPER 2: Wermers Carlsbad Village, LLC, a Californi By: By;.,: '---------",£--~c_,:::::...--- Thomas W. Wermers, President [SIGNATURES CONTINUED ON FOLLOWING PAGE] 3 CITY: City of Carlsbad By: ~ ~ Geoff Patnoe, City Manager Approved as to form: City of Carlsbad Office of the City Attorney - By: ~ I<--I-{~~ Print Name: CII 1Ai,e K. He /114 htn Its: M;t/l.MJ 2{t_, UZ5 I 4 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of San Diego ) ) ) On March 26, 2025, before me, Lesli Palmer, notary public, personally appeared Dennis Szuberla who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under penalty of perjury under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature _'of! __ • -~-~----(Seal) 5 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of San Diego ) ) ) On Mo.c-& \ , 2025, before me, QA<,""-\),..,,.)\EL rJ\a~u.•~ , notary public, personally appeared :::r>;""".. "'-) . \.v'"-G.ME'll-,-who proved to me on the basis of satisfactory evidence to be the personEs1 whose nameE,6-) is/al=@-subscribed to the within instrument and acknowledged to me that he/she/ther executed the same in his/herl-thcir authorized capacity(~, and that by his/her,1thci:i-signatureE&) on the instrument the personW, or the entity upon behalf of which the personEs1 acted, executed the instrument. I certify under penalty of perjury under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature ~~ (Seal) 7 CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 OHJJ§le □ J jg D El8@8C 5 CB D □DD [J:IJ DD OOlfl!J D [liOif] D tlit 6 D [)888808(] D D 6 [ [D : E A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. On _.____._,"--""__._.""-+~----4......._-=->o<...c.,,A--before me, ~~=-=-l---"'<--1-'\--'-------'---'------"--''--"'='--'--l--.__==-----=-""'-+--\-l,....._._,bt i (__ personally appeared --~&~. _..e_..&..,....._~P_Qc~~j-v,~ ............ CJ-~___..--------------- Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(il whose name~) is/afe subscribed to the within instrument and acknowledge9 to me that he!s'/e!th/y execui~ct the same in hisl'Jkrlt,rieir authorized capacity(ies), and that by his/htr/thf ir signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. ~--··········~ Si, ELSY M. MELSO"' : "'aury "1.lbltc • C•ltforn\1 : i San Di~ Caunty s: . Cc,mmlssian • 2313071 - My C•rnm. Ex,trN A"I 31 , 2025 Place Notary SE;_qf and/or Stamp Above I certify under PENAL TY OF PERJURY under the 1 laws of th~ State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signatur OPTIONAL Completing this information can deter alter:ation of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Title or Type of ,O.os;:ument ve:.c..l Document Date: ___________________ ~-- Signer(s) Other Than Named Above: _______________________ _ Capacity(ies) Claimed by Signer(s) Signer's Name: ____________ _ Signer's Name: ____________ _ o Corporate Officer -Title(s): ______ _ D Corporate Officer -Title(s): ______ _ □ Partner -□ Limited D General □ Partner -□ Limited D General o Individual D Attorney in Fact D Individual D Attorney in Fact □ Trustee □ Guardian or Conservator □ Trustee □ Guardian or Conservator D Other: D Other: Signer is Representing: _________ _ Signer is Representing: _________ _ OIIIICOOOCOIKll:HCIIIIIUIGICtl 0081l8B BOO □ UlfJ 1800:000110 UI CO I I 080@0@01111808003 Utl!OO 81 j 111111 oat ©2019 National Notary Association Exhibit A LEGAL DESCRIPTION THE REAL PROPERTY REFERRED TO HEREIN IS ALL THAT CERTAIN REAL PROPERTY LOCATED IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS: PARCEL 1: PARCEL A OF CARLSBAD VILLAGE LOFTS, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, AS PER PARCEL MAP NO. 21619, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID SAN DIEGO COUNTY, SEPTEMBER 12, 2018 AS INSTRUMENT NO. 20187000347 OF OFFICIAL RECORDS. APN: 203-320-39-00; 203-320-49-00; 203-320-50-00; 203-320-52-00 PARCEL 2: NON-EXCLUSIVE EASEMENTS FOR PEDESTRIAN ANO VEHICULAR ROADWAY, RIGHT-OF-WAY, ACCESS, SERVICE AND INGRESS ANO EGRESS PURPOSES OVER A PORTION OF PARCEL B OF PARCEL MAP NO. 21619, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, FILED IN THE COUNTY RECORDER OF SAN DIEGO COUNTY ON SEPTEMBER 12, 2018 AS FILE NO. 2018-7000347 OF OFFICIAL RECORDS, SAID EASEMENTS ARE FULLY SET FORTH ANO SUBJECT TO THE TERMS AND PROVISIONS CONTAIN IN THAT CERTAIN RECIPROCAL ROADWAY GRANT OF EASEMENT AND EASEMENT AGREEMENT RECORDED SEPTEMBER 14, 2018 AS INSTRUMENT NO. 2018-0384167 OF OFFICIAL RFCOROS