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HomeMy WebLinkAboutCT 84-23; Edgecrest investments Ltd; 1995-0584414; Future Improvement Agreement/ReleasePLEASE CCWLETE THIS INFORMT~OW RECORDING REQUESTED BY: City Clerk CITY OF CARLSBAD 1200 Cartsbad Village Dr. Carl&ad, CA 92008 u3D MIEN RECORDED KML TO: City Clerk, CITY OF CARLSBAD 1200 Carl&ad Village Dr. Carlsbad, CA 92008 1492 c”: t 1995-0584414 224EC-1995 12=08 PM OFFICIAL RECORDS SAN DIEGR COMTY RECORDER'S OFFICE GREGORY S:;T;; CDWY RECORDER RF: ;;j 27: 00 FEES: 46.00 1.00 THIS SPACE FOR RECORDER’S USE ONLY CONTRACT FOR FUTURE PUBLIC qi4PROVEMENTS AND PAYMENT OF PARK-IN-LIEU FEES 1493 RECGRDING REQUESTED BY AND WHEN RECORDED MAIL TO City Clerk CITY OF CARLSBAD 1200 Carlsbad Village Dr. Carlsbad, CA 92008 Space above this line for Recorder’s use. CITY OF CARLSBAD CONTRACT FOR FUTURE PUBLIC IMPROVEMENTS AND PAYMENT OF PARK-IN-LIEU FEES Permit No. CT 84-23 Parcel No. 223-021-18 FIA No. THIS AGREEMENT is made by the City of Carlsbad, a municipal corporation, hereinafter referred to as “City”, and Edgecrest Investments Ltd., A Nevada Corporation, hereinafter referred to as “Property Owner” RECITALS WHEREAS, the real property hereinafter described, now under Property Owner’s ownership, is subject to the conditions of development for Carlsbad Tract 84-23 approved by the City pursuant to City Council Resolution No.7801 *adopted on November 6, 1994 and Planning Commission Resolution No. 2347 adopted on September 12, 1984 hereinafter referred to as “Project” and WHEREAS, on November 30, 1995, Property Owner timely applied for building permits for the apartment project to the City; and WHEREAS, it has been found that said property is not suitable for development in its present condition, however said property would be suitable for development if certain public improvements hereinafter described are constructed and certain park-in-lieu fees are paid; and WHEREAS, the Municipal Code of City requires the installation of certain improvements and the payment of certain park-in-lieu fees as a condition of approval of Project; and. WHEREAS, prior to recordation of the final map for Carlsbad Tract 84-23, the Property Owner, or Property Owner’s predecessor in interest, did enter into secured agreements for the 1 construction of public improvements and for the payment of park-in-lieu fees in accordance with 1494 the conditions of approval for said Project; WHEREAS, the Property Owner now desires to enter into a substitute agreement whereby the surety bonds which guaranteed Property Owner’s performance on the improvement construction and park-in-lieu fee obligations for the Project are replaced with the property lien, as described in this agreement, to guarantee performance of said obligations in accordance with the conditions of approval for said Project; and WHEREAS, Property Owner agrees to lien said property to guarantee the construction of said improvements and payment of said fees, and City has determined it to be in the public interest to agree to secure said construction and said fees through this agreement. NOW, THEREFORE, IT IS AGREED between the parties hereto as follows: That Property Owner agrees to enter into a secured agreement and to deposit a Section 1. cash bond prior to the issuance of building permits or post a surety performance bond satisfactory to the City to charge said surety with the cost of said improvements in accordance with the plans and specifications approved by the City Engineer; the amount of bond to be the estimated cost of engineering and improvements at the time of such deposit or posting as ascertained by the City Engineer, and that upon deposit of said cash or posting of said bond the City agrees to release the property, or any portion of it as to which said deposit or posting applies, from the provisions of this agreement, and to execute any necessary release to enable the record title of the property to be released from the lien herein imposed. Except as provided for in Section 8 of this agreement Property Owner shall not Section 2. be required to make said improvements before issuance of building permits, however Property Owner shall install said improvements to the satisfaction of the City Engineer prior to the issuance of a Certificate of Occupancy or occupancy of any portion of the project for any purpose. Said improvements shah be made without cost or expense to City. City estimates that the cost of engineering and construction of said improvement at the signing this contract is $157,450.00. Property Owner hereby acknowledges that said cost is a reasonable estimate of engineering and 2 construction costs at this time and that the actual cost of same at some time in the future may exceed this estimate, Section 3. That Property Owner agrees to pay said park-in-lieu fee in accordance with Title 20 of the Carlsbad Municipal Code, the Project’s conditions of approval and the “Subdivision Park-in-Lieu Fee Agreement” dated July 10, 1990 between the City and Lincoln Property Development NC. Inc., attached hereto as Exhibit “A.” Pursuant to the “Subdivision Park-in-Lieu Fee Agreement” the amount of said fee was estimated at $655.00 per dwelling unit. The City currently estimates the fee to be $1,050.00 per dwelling unit. Upon payment of the fee set forth above by the Property Owner, City agrees to release the property, or any portion of it as to which said payment applies, from the provisions of this agreement, and to execute any necessary release to enable the record title of the property to be released from the lien herein imposed. That for the faithful performance of the promises and covenants herein Section 4. contained, Property Owner hereby grants to city a lien upon the hereinafter described property in the amount of $262,450 plus any future increases or decreases of this sum resulting from increased or decreased engineering or construction costs, or any increase or decrease in the amount required for said park in lieu fees, and in the event Property Owner, Property Owner’s successor, heirs, assigns, or transferees fail to install and construct said improvements in the manner and within the time specified herein or pay the said fees, Property Owner agrees that City may do any or all of the following: (a> Have the necessary engineering for said improvements done, and install and construct said improvements by contract or otherwise, City or its contractor and contractor’s employees may enter upon any portion or portions of the property reasonably necessary for said engineering and construction, and the entire cost and expense shall be charged against said property and payable by said Property Owner, Property Owner’s successors, heirs, assigns or transferees immediately upon completion of said improvements. In the event same is not paid within thirty (30) days from completion, City may foreclose said lien as provided by law for the foreclosure of mortgages. 3 (b) Pursue any remedy, legal or equitable (including those specifically referred to herein), for the foreclosure of a lien, and the Property Owner, Property Owner’s successors heirs assigns and transferees, shall be liable for reasonable attorney’s fees as a cost in said proceedings. (c) Deny issuance of building or occupancy permits for any unit or units proposed for construction on said property That it is agreed that anything herein contained to the contrary notwithstanding, Section 5. the promises and covenants made herein shall not be binding upon the holders, mortgagees, or beneficiaries of any purchase money mortgage or purchase money deed of trust for value which has been or may in the future be executed by the Property Owner, Property Owner’s successors, heirs, assigns or transferees, and the lien hereby created shall be and is hereby subordinated to and declared to be inferior and subsequent in lien to the lien of any such purchase money mortgage or purchase money deed of trust. The lien hereby created shall likewise be of no force or effect against any owner whose title to the property hereinafter described is acquired by or as a result of a foreclosure or trustees’ sale of any such purchase money mortgage or purchase money deed of trust. Section 6. Said City shall not, nor shall any officer or employee thereof, be liable or responsible for any accident, loss or damage happening or occurring to the work or improvements specified in this agreement prior to the completion and acceptance of the same, nor shall said City, nor any officer or employee thereof, be liable for any persons or property injured by reason of said work or improvements, but all of said liabilities shall be assumed by said Property Owner and Property Owner’s successors, heirs, assigns or transferees, and they shall save the City harmless from, and indemnify the City against, any and all claims, suits and liabilities of or to any person or property injured or claiming to be injured as a result of said work or improvements. Said Property Owner, and Property Owner’s successors, heirs, assigns or transferees, further agrees to protect said City and the officers and employees thereof from all liability or claim because of, or arising out of, the use of any patent or patented article in the construction of said improvement. It is further agreed that said Property Owner will at all times up to the Section 7. completion and acceptance of said work and improvements by the City, give good and adequate 4 . - , 1497 warning to the travelling public of any dangerous or defective conditions of public property. The Property Owner hereby agrees to pay for such inspection of improvements as may be required by the City Engineer of City. Section 8. In the event that Property Owner resubdivides said property in accordance with the provisions of Title 20 at the Carlsbad Municipal Code, the City may impose new improvement and park dedication requirements upon said subdivision in accordance with the provisions of City Code at the time such subdivision is approved by the city. Upon fulfilment of all improvement and park dedication requirements and/or posting of security in accordance with such approval, and upon recordation of the final map for said subdivision, the City shall release the property owner from the obligations of this agreement and execute any necessary release to enable record title of the property to be released from the hen herein imposed. This agreement and the covenants contained herein shall be binding upon and Section 9. inure to the benefit of the successors, heirs, assigns and transferees of Property Owner, shall run with said real property, and create an equitable servitude upon said real property. Section 1Q. A description of the property referred to herein and upon which said hen is imposed is described as follows: Lot 224 of Tract 84-23, in the City of Carlsbad, County of San Diego, State of California, According to Map Thereof No. 11241 Section 11. The required improvements to be constructed and the estimated costs thereof are as follows: For the construction of full half street plus 12 feet improvement to Corintia Street adjacent to the property in accordance with City Drawing No. 200-2. IMPROVEMENTS Paving 4’/11’ AB PCC Sidewalk 6’ Type G curb and gutter Pavement cut-off wall 6’ AC Berm Street light City Monument Street fine grading ?if%EF UNIT COST ESTIMATED COST 3:170 SF 3.05 2.90 8 9,193.oo 1435.00 1,210 LF 12.60 15246.00 1EA 850.00 850.00 890 LF 7.80 6942.00 3EA 3 150.00 9450.00 2EA 330.00 660.00 32.850 SF 0.40 13.140.00 136.916.00 15% Contingency 201534.00 Total Improvement Cost 157,450.oo 5 Executed by Property Owner this 21 J f day of LM995. PROPERTY OWNER n?- //vVf‘s7i+!=~~~ Lri., (Name of Property Ownery Ahr/A* c;srcp By: (sign here) I /A9=sx>./? SAL=/ ’ (print namehere) - fu Jibcc. +- k53I;Ecf2k-sT~~*~~~ L2-3. (title and organization of signatory) P fvErMb4 ce#” By: \I,4 5 &a ti, (sign here) Udlwd E SALEN (print name here) I498 . l- \nhmtcl=~~ L’33. c)EJ(?Ji+OA CON’, (Proper notarial acknowledgement of execution by PROPERTY OWNER must be attached) (President or vice-president and secretary or assistant secretary must sign for corporations. If only one officer signs, the corporation must attach a resolution certified by the secretary or assistant secretary under corporate seal empowering that officer to bind the corporation.) APPROVED AS TO FORM; RONALD R. BALL City Attorney - State of California County of San Diego on 1 z/zrw before me, r 7rnE 7x. /+ca%M personally appeared Au=&3 SALEH 7 proved to me on the basis of satisfactory evidence) to be the person@ Whose name@) is/m subscribed to the within instrument and acknowledged to me that he/@M.hey executed the same in his/h&&h@r authorized capacity@@, and that by his@er/t&ir signature@ on the instrument the person($j , or entity upon behalf of which the person&? acted, executed the instrument. WITNESS my hand and official seal j, K(. Km;Ilfl (Signatff t-e) (SEW State of California County of San Diego ~pi~L-~= me, h-Cd4 fiLc- personally m (or proved to me on the basis of satisfactory evidence) to be the person@ Whose name@ is/m subscribed to the within instrument and acknowledged to me that -$e/she/tlsq executed the same in %/her/%&r authorised capacity@%), and that by 4fMher/tMr signature@ on the instrument the person@ , or entity upon behalf of which the person@ acted, executed the instrument. WITNESS my handand official seal (SEAL) ILONA hkL 5 Comm. W1022462 OTARY PUBLIC SAN DIED0 COUNTY . 4 1 f : .’ I, . . I - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - k S,dDIVISION PARK-IN-LIEU FEE AGREEMENT DATE OF AGREEMENT: / NAME OF SUBDIVIDER:Lincoln La Costa Meadows Limited Partnership NAME OF SUBDIVISION: Carlsbad Tract 84-23 The Meadows - La Costa RESOLUTION OF APPROVAL NO.: 7801 ADOPTED: November 6, 1984 AMOUNT OF LAND REQUIRED: N/A ESTIMATED AMOUNT OF FEE: $65.500.00 SURETY BOND NO.: 2392 This agreement is made and entered into by and between the City of Carlsbad, California, a Municipal Corporation of the State of California, hereinafter referred to as City; and the SUBDIVIDER named on Line 2 of PageJhereof, hereinafter referred to as SUBDIVIDER. RECITALS A.. SUBDIVIDER has presented to City for approval and recordation, a final subdivision map of a proposed subdivision as stated in Line 3 of Page 1 hereof pursuant to provisions of the Subdivision Map Act of the State of California, and in compliance with the provisions of Title 20 of the Carlsbad Municipal Code, hereinafter referred to as Code, relating to the filing, approval and recordation of subdivision maps. B. A tentative map of the subdivision has been approved, subject to the requirements and conditions contained in the reso- lution listed on Line 4 of Page 1 hereof. Said resolution is on file in the office of the City Clerk and is incorporated herein by reference and made a part hereof. C. The code provides that before the final map or parcel map is approved by the City Council, SUBDIVIDER must dedicate AGREWENTWAG-23.FRM 1 ..w 'j r 1 . : :;L, :,*, &, .i I. J 3-z REV. 6/19/90 *I / 1 2 3 4 5 6 7 a 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 land, pay a fee in lieu thereof, or both. City has determined in lieu of dedication of the amount of land stated on Line 5 of Page 1 hereof that payment of a fee in lieu of park land dedication in an estimated amount stated on Line 6 of Page 1 hereof is required. The Code further provides that payment of said fee may be made at the time that building permits for construction of units in the subdivision or upon the sale of the first lot on the subdivision whichever occurs first, provided that subdivider enters into an agreement secured by an approved security to insure payment of said fee. D. SUBDIVIDER, in consideration of the approval and recor- dation of the final or parcel map by the City, desires to enter into this agreement wherein it is provided that SUBDIVIDER will pay the fee equal to the fair market value of the land stated on Line 5 of Page 1 hereof and will deliver to City an improvement security as approved by the City Attorney. NOW, THEREFORE, in consideration of the approval and recordation by the City of the final map, or parcel map, of this subdivision, and other valuable considerations, SUBDIVIDER and City agree as follows: 1. SUBDIVIDER shall pay a fee equal to the market value of the land stated on Line 5 of Page 1 hereof at the time subdivider obtains, or causes to be obtained, building permits for structures, other than public improvements, in the subdivision; or sells or causes to be sold lots in the subdivision, whichever occurs first; provided, however that if building permits are obtained for a portion of the subdivision or AGREEMENTS/AC-23.FRM 2 REV. 6/19/90 .- : ’ ‘. . .- . 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - a portion of the lots in the subdivision are sold the fee may be paid in increments corresponding to the portion of the permits obtained or lots sold. The fair market value of the land shall be determined at the time the fees are paid, and shall be based upon the average estimated fair market value for the park area of the City in which the subdivision is located. If the fees are paid in increments the subdivider shall remain obligated to pay the fees for the remainder of the subdivision, the amount of said remaining fees shall be based on the fair market value at the time of the payment of the fee. 2. SUBDIVIDER shall furnish to City good and suffi- cient security on forms approved by City,in the amount of 100 percent of the fee stated on Line 6 of Page 1, hereof, to assure performance of this agreement. SUBDIVIDER agrees that the amount stated is an estimate based on the fair market value of the land at the time of the execution of this agreement and notwithstanding this estimate, the subdivider shall be obligated to pay the fee determined at the time of payment. 3. The securities required by this agreement shall be released upon the payment in full by subdivider of the fee de- scribed herein. If a portion of the fee, described herein is paid as provided in paragraph 1 of this agreement the security shall be released in a corresponding amount. 4. In the event that SUBDIVIDER fails to perform any obligation hereunder, SUBDIVIDER agrees to pay all costs and expenses incurred by City in securing performance of such obliga- tions, including costs of suit and reasonable attorney's fees. II /// AGREEMENTS/AC-23.FRR 3 REV. 6/19/90 .’ 1 2 3 4 5 6 7 8 9 10 11 12 13 44 5. Failure of SUBDIVIDER to comply with the terms of this agreement shall constitute consent to the filing by City of a Notice of Violation against all the lots in the Subdivision. Executed by Subdivider this 21 r 19 22 day of -\L!(%-- ‘) -0 BDIVIDER: CITY OF CARLSBAD, a municipal corporation of the State of California ATTEST: (print yme he\\ (title and organiza ion of signatory) State of California in the year Iwa befor for said Aounty and State, perskally to me to be the Vice President of Lincoln Property Development Cmpany N.C., Inc., the corpcration and executed the within inst rumnt and personally known to me to be the person who executed the within instrument on behalf of said corporation, said corporation being personally known to me to be one of the partners of Lincoln Property Canpany No. 2101 Limited Partnership which is personally knmn to me to be the general partner of the part- ership that executed the within instrumant, andacknowledgedtome thatsuchcorp- oration executed the same as such partner and that such partnership executed the SaItlf2. In witnes<whereof, I have hereunto set my hand and affixed my official seal in ti County of CA x-;-n the day and year in the certificate first abve written. i ’ ,,,’ ; /\ :, :,- y/,, p 1, ,/ /.&.jy -I’ .;;: ) / 7 42L __-_ i” L ..’ 1 2 3 4 5 6 7 8 9 10 11 12 13 ,I4 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - 5. Failure of SUBDIVIDER to,comply with the terms of this agreement shall constitute consent to the filing by City of a Notice of Violation against all the lots in the Subdivision. Executed by Subdivider this '2~ 19 =K? day of -SC] ~LG- r) I -= BDIVIDER: CITY OF CARLSBAD, a municipal corporation of the State of California By: (sign here) ALETHA L. RAUTENKRANZ) City Clerk (print name here) (title and organizat (Proper notarial acknowledgement of execution by SUBDIVIDER must be attached) (President or vice-president and secretary or assistant secretary must sign for corporations. If only one officer signs, the corporation must attach a resolution certified by the secretary or assistant secretary under corporate seal empowering that officer to bind the corporation.) APPROVED AS TO FORM: VINCENT F. BIONDO, JR. Lincoln La Costa Meadows City Attorney Limited Partnership )-.. /Ld By : LINCOIJ'J PROPERTY CCMPANY ~tZZ!2~~~ general partner By: By : Lincoln Prokrty Developnt Deputy Cil?$ Attorney Company2,C., Inc. AGREEIEITS/AG-23.FRH 4 REV. 6/19/90 - ‘I. 1 ., . d. ..I ,‘L V’ G- CERTIFICATE OF SECRETARY OF LINCOLN PROPERTY DEVELOPMENT COMPANY N.C., INC. I, Donna J. Schafer, being an Assistant Secretary of Lincoln Property Development Company N.C., Inc., a California corporation ("Corporation"), do hereby certify that I am one of the custodians of the records of such Corporation; that the following is a true and correct copy of a resolution duly adopted by the Board of Directors of said Corporation by unanimous consent, and that said resolution is in full force and effect and has not been rescinded to wit: RESOLVED, that Corporation duly authorizes R. Scott Sellers to execute and deliver any and all documents as may be necessary including, without limitation, the Subdivision Improvement Agreement, Faithful Performance Bonds, Labor and Material Bonds and a Park-In-Lieu Bond for the Replacement Security project located on Corintia Street in the City of Carlsbad, County of San Diego, California. Witness my hand as Assistant Secretary of said Corporation and ---- with its corporate seal hereunto affixed as of the Fifteenth day of June, l&6,- ~_ Donna J. S&afer Assistant Secretary Lincoln Property Development Company N.C., Inc.