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HomeMy WebLinkAboutFIA 88-03; Security Pacific National Bank Trustee; 88-313945; Future Improvement Agreement/Release1 , _ - ’ - . . . 313945 RECORDING REQUESTED BY AND > WHEN RECORDED MAIL TO: 1 > CITY OF CARLSBAD > 1200 Elm Avenue ; Carlsbad, CA 92008 1 Space above this line for Recorder’s use. Documentary Fnsfer tax: -Mz~u+- UMfe Signature of declarant determining tax-firm name City of Carlsbad Parcel No. 156-l 90-7 3 CONTRACT FOR FUTURE PUBLIC IMPROVEMENTS THIS AGREEMENT is made by the City of Carlsbad, a municipal corporation, hereinafter referred to as “City”, and Security Pacific National Bank, a National Ranking Association, as trustee of its Trust Number 44-S-01188-0, and not in its individual capacity, hereinafter referred to as “Property Owner”. RECITALS: WHEREAS, Property Owner has applied to City for a Minor Subdivision No. 738 for the real property hereinafter described, now under Property Owner’s ownership; 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 EXHIBIT “G” 0 1670 - - 2 - improvements hereinafter described are constructed and certain irrevocable offers of dedication are made to City; and WHEREAS, the Municipal Code of City and conditions attached hereto and incorporated by reference herein require certain improvements and dedications as a condition of approval of this Minor Subdivision No. 738; and WHEREAS, Property Owner has requested said Minor Subdivision No. 730 granted by City in advance of the time said improvements are to be made; and ? WHEREAS, Property Owner, in consideration of the approval of said Minor Subdivision No. 738 desires to enter into this agreement securing the construction of said improvements, and City has determined it to be in the public interest to agree to temporarily postpone said construction; NOW, THEREFORE, IT IS AGREED between the parties hereto as follows: Section 1. That City Agrees to record any irrevocable offers of dedication made by Property Owner for Highland Drive and Elmwood Street. Section 2. That Property Owner, in lieu of making the hereinafter described improvements before approval of said Minor Subdivision No. 738 granted, agrees to install and construct, or cause to be installed or constructed, said improvements in accordance with plans and specifications approved by the City Engineer within sixty (60) days after written demand so to do by h 0 1671 - 3 - City. Property Owner shall not be required to make said improvements before July 30, 1987 or within such further period of time as is granted by City, provided, however, that upon the happening of either of the following occurrences said improvements may, at the sole election of City, be required to be made sooner than said date or such extended period of time which may have been granted by City: (a) When the City Council finds that the owners of 40% or more of the frontage, including the frontage of Property Owne’r, between intersecting streets on both sides of the street upon which the property herein described has frontage, have agreed with City to install street improvements to City specifications. (b) When owners of more than 50% of the frontage, between intersecting streets on both sides of the street upon which the property herein described has frontage, hav’e petitioned the City to form an improvement district for the improvement of said streets. Said improvements shall be made without cost or expense to City. City estimates that the cost of engineering and construction of said improvements at the time of signing this contract is TWENTY THOUSAND NINE HUNDRED FORTY AND NO/100 DOLLARS ($20,940.00). Property Owner hereby acknowledges that said cost is a reasonable estimate of engineering and construction costs at this time and that the actual cost of same at some time in the 0 1672 - 4 - II future may exceed this estimate. Section 3. That for the faithful performance of the promises and covenants herein contained, Property Owner hereby grants to City a lien upon the hereinafter described property in the amount of $20,940.00 plus any future increases of cost in excess of this sum resulting from increased engineering and construction costs, and in the event Property Owner, Property Owner’s successors, heirs, assigns, or transferees fail to install and construct said improvements in the manner and within the time specified herein, Property Owner agrees that City may do any or all of the following: (a> Have the necessary engineering for said improve- ments 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. (b) Direct the City Engineer to estimate the cost of necessary engineering, and the work required to install and construct said improvements, and foreclose said lien in said - 0 1673 h - 5 - * amount. (c> 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. Section 4. That it is agreed that anything herein contained to the contrary notwithstanding, 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 5. That at any time during the period herein provided, the Property Owner, Property Owner’s successors, heirs, assigns, or transferees may deposit a cash bond or post a surety performance bond satisfactory to the City to charge said surety with the cost of said improvements; the amount of bond to be the 0 1674 A <’ - 6- 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. Section 6. 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 City, nor any officer or employee thereof, be liable for any injury to persons or property caused by or resulting from, in whole or in part, the work or improvements, but all of said liabilities shall be assumed by said Property Owner and Property Owner’s successors, heirs, assigns, and 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 until such improvements are completed and fully accepted by the City. Said Property Owner, and Property Owner’s successors, heirs, assigns, and transferees, further agrees to protect said City and the officers and employees thereof from all liability or 0 1675 - - 7 - claim because of, or arising out of, the use of any patent or patented article in the construction of said improvements. Section 7. It is further agreed that said Property Owner will at all times up to the completion and acceptance of said work and improvements by the City, give good and adequate warning to the t raveling 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. f Section 8. This agreement and the covenants contained herein shall be binding upon and 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 9. A description of the property referred to herein and upon which said lien is imposed is described as follows: ALL THAT PORTION OF TRACT ONE HUNDRED NINETEEN OF CARLSBAD LANDS, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 1661, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 1, 1915, DESCRIBED AS FOLLOWS: BEGINNING AT A POINT IN EASTERLY LINE OF SAID TRACT 119 DISTANT THEREON SOUTH 34”33’00” EAST 815.02 FEET FROM THE MOST NORTHERLY CORNER OF SAID TRACT 119; THENCE CONTINUING ALONG THE EASTERLY LINE OF SAID TRACT 119, SOUTH 34°33’OO” EAST 180.15 FEET TO THE NORTHWESTERLY LINE OF THE LAND DESCRIBED IN DEED TO AUGUSTUS WAKEMAN ET UX, DATED SEPTEMBER 22, 1926 AND RECORDED APRIL 19, 1926 IN BOOK 1270, PAGE c .a - . F- -. 0 1676 - a - l . 275 OF DEEDS ; THENCE AT RIGHT ANGLES SOUTH SS”27’OO” WEST ALONG THE NORTHWESTERLY LINE OF SAID LAND DESCRIBED IN DEED TO WAKEMAN AND ALONG THE NORTHWESlERLY LINE OF THAT LAND DESCRIBED IN DEED TO J. IN BOOK H. DEARDORFF ET UX, RECORDED APRIL 28, 1923 934, PAGE 259 OF DEEDS, 663.51 FEET, MORE OR LESS, TO THE WESTERLY LINE OF SAID TRACT 119, SAID POINT BEING ALSO THE NORTHEASTERLY CORNER OF TRACT 117, AS SHOWN ON SAID MAP NO. 1661; THENCE NORTH OO”S2’00” WEST ALONG THE WESTERLY LINE OF SAID TRACT 119, A DISTANCE OF 216.92 FEET TO THE SOUTHWESTERLY CORNER OF THE LAND DESCRIBED IN DEED TO HOMER LEHR GODDARD, ET UX, RECORDED JUNE 13, 1942 IN BOOK 1356, PAGE 302 OF OFFICIAL RECORDS; THENCE NORTH SS”27’00” EAST ALONG THE SOUTHEASTERLY LINE OF GODDARD’S LAND, A DISTANCE OF 543.21 FEET TO THE POINT OF BEGINNING. e Section 10. The required improvements to be constructed and the estimated costs thereof are as follows: Improvements Estimated Costs Concrete curb, gutter & sidewalk (397 L.F.) $ 4,370.oo Concrete sidewalk (1,985 L.F.) $ 5,360.OO Street base and paving (2811 S.F. > 3 6,180.OO Portion of street light (397 L.F.) $ 2,300.OO SUBTOTAL 6 18,210.OO +lSL ENGIINEERING CO&TINGENCY $ 2,730.OO TOTAL d 20,940.OO IN WITNESS WHEREOF, we have hereunto set our hands and e seals this a+ day of 4 v ra ot-y , 19ee. I - . * SECURITY PACIFIC NATIONAL CITY OF CARLSBAD, a Municipal BANK, a National Banking Corporation of the State of Association, as Trustee of California its Trust Number 44-S-01188-0, and not in its indivu Q By: Title: Vice President , City Manager AND: )i[l -Authorized APPROVED AS TO FOR&:<: F. BiONDO, JR., CITY ATTOR@Y BY .’ Vincent F. Biondo, Jr. City Attorney STATE OF CALIFORNIA .-* CO(JNJ-yOF San Diego 0 1677 .I on February 25, 1988 , before me, the undersigned, a Notary Public in and for said State, personally appeared < personally known to me or proved to me on the basis of satisfactory evidence to be a Vice President, and DIANA L. REDMAN known to me or proved to me on the basis of satisfactory evidence to be a Sr. Real Estate OrrIcer of the SECURITY PACIFIC NATIONAL BANKthe association that executed the within Instrument, known to me to be the persons who executed the within Instrument on behalf of the association therein named, and acknowledged to me that such association executed the same, and acknowledged to me that such association executed the within Instrument pursuant to its by-laws or a resolution of its board of djrectors. WITNESS my hand and official seal. .- (S d??$+ t LORETTAIRENE DUNBAR ‘I NOTARY PUBLIC-CALIFORNIA ..- -~ SAN DIEGO COUNTY r, ._ My Commission Expires Apr. 15, 19884 v., ‘2.L” --~~,1-1~--.‘~.-.“--.,-‘-.-~~- r , _ 030874 8-83’ 25 PS Bank Officer’s Notarial Acknowledgement (Notary Public’s Signature)