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Home My WebLink About1978-08-04; Parking Authority; Resolution 14Q < ca v> _i . CO d u. Q O 9^ OQ TT 3 2 ? a: o ^ > ^ ° K 5 u- ^1 It < i < _ Q oc < 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 RESOLUTION NO. 14 A RESOLUTION OF THE PARKING AUTHORITY OF THE CITY OF CARLSBAD, CALIFORNIA, APPROV- ING AND AUTHORIZING THE EXECUTION OF AN EXCHANGE AGREEMENT AND ESCROW INSTRUCTIONS AND ALL RELATED DOCUMENTS MADE EXHIBITS THERETO WITH THE CITY OF CARLSBAD AND PLAZA CAMINO REAL TO EFFECT THE BULLOCK'S LAND EXCHANGE. X'^JHEREAS, the Agreement, dated 5 November 1975, as amended, by and between the City of Carlsbad, Parking Authority and Plaza Camino Real, provides for the expansion of the Plaza Camino Real Regional Shopping Center; and WHEREAS, Section 2.8 of said Agreement provides for an exchange of land between the parties to create a site which will accommodate the Bullock's Store; and WHEREAS, an Exchange Agreement and Escrow Instructions has been prepared which is acceptable to all parties and which will carry out the contemplated land exchange; and WHEREAS, The City Council of the City of Carlsbad, California, by the adoption of Resolution No. 5500 , has approved said Exchange Agreement and Escrow Instructions; NOW, THEREFORE, the Parking Authority of the City of Carlsbad, California does hereby FIND, RESOLVE, DETERMINE AND ORDER as follows: Section 1: That the above recitations are true and correct. Section 2: That the Exchange Agreement and Escrow Instructions between the City of Carlsbad, Parking Authority and Plaza Camino Real, which is on file with the City Clerk and incorporated by reference herein, is hereby approved. Section 3: That the Chairman and Clerk of the Authority CO o o CM Ol O < CQ </> _J • OC EC < - " < d Li- ^ 5 ° ° i i ul • 5< ^ Ul CJ z ^ 8 Q UJ Z CM rf U OC - S z o to < < 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 are hereby authorized and directed to execute said Agreement for and on behalf of the Authority. Section 4: That the Chairman and Clerk of the Authority are hereby authorized and directed to execute the Grand Deed (Exchange Parcel A), the Amendment to Lease Agreement and the Amendment to the Plaza Camino Real Public Parking Lot Operating Agreement, Exhibits "C", "D" and "F" respectively to said Exchange Agreement and Escrow Instructions, for and on behalf of the Authority. Section 5: That the Parking Authority hereby accepts the Grant Deed to Exchange Parcel B, to be effective upon delivery of said Deed, properly executed in a form shown as Exhibit "E" to said Exchange Agreement and Escrow Instructions and the Chairman and Clerk of the Authority are hereby authorized and directed to execute said acceptance for and on behalf of the Authority. ADOPTED, SIGNED AND APPROVED this 4th day of August 1978 Vice Chairman of the^Parking Authority of the City of Carlsbad, California ATTEST; the Parking Authority City of Carlsbad, California (SEAL) 2. 1825 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Plaza Camino Real c/o The May Stores Shopping Centers, Inc 10738 West Pico Boulevard, Suite 1 Los Angeles, California 90064 Attention: Herbert L. Roth RECORDED REQUEST OF JITLE INSURANCE AND TRUST f..jGl5 1225Fri3 RECORDER $J0.00 TRANSFER TAX UARLEY F. BLOOM, RECORDER JUMENTARY TRANSFER TAX $. ^ GRANT DEED (Exchange Parcel A) The undersigned, the PARKING AUTHORITY OF THE CITY OF CARLSBAD, a public body corporate and politic, organized and existing under the laws of the State of California ("Grantor"), hereby grants to PLAZA CAMINO REAL, a limited partnership, organized and existing under the laws of the State of California, the general partner of which is The May Stores Shopping Centers, Inc. ("Grantee") the following described real property in the State of California, County of San Diego, City of Carlsbad, more particularly described as follows: Lot 14 o_f Carlsbad Tract 76-18 according to Map No. C filed in the Offi^is of the County Recorder of said County on HOQ,V:^7'/A 1978. A. The conveyance hereby made is subject to the easements, rights-of-way, conditions, covenants, restrictions, reservations and similar matters of record on the date of delivery of this Grant Deed to Grantee. B. The conveyance hereby made is also subject to the following -1- Grantor has granted the real property conveyed hereby to Grantee with the understanding that Grantee will convey said real property to Federated Department Stores, Inc. ("Federated") and that Federated will commence construction of a department store building thereon by July 1, 1981. If Federated has not commenced construction of a department store building thereon pursuant to a building permit issued by the City of Carlsbad on or before July 1, 1981, Grantor or its successors or assigns may give written notice of such fact to Federated or its successors or assigns, and if such construction is not so commenced within sixty (60) days after the giving of such written notice, Grantor shall have the right iram.edi- ately to terminate the estate herein granted for condition broken by reentering the land conveyed hereby pursuant to California Civil Code Section 1109 or any successor statute; provided, however, said reentry shall not occur unless said notice is given not later than July 1, 1982. In such event, automatically and simultaneously with the occurrence of the reentry, without it being necessary for Grantor or its successors or assigns to take any affirmative action to effect such result, the real property conveyed hereby shall become subject to all of the covenants, conditions, restrictions, and other provisions of that certain grant deed, dated October 21, 1969, from Grantee to Grantor, recorded on said date in the Official Records of the San Diego County Recorder as Document No. 193480, as amended by an instrument recorded concurrently herewith entitled -2- ' 1927 "Amendment of Deed Covenants, Conditions, Restrictions and Reserva- tions; Subordination Agreement and Parking Easements" executed by Grantor, Grantee and others (said deed, as amended, being herein- after referred to as the "Original Grant Deed"). Such reentry shall be the sole remedy of Grantor and its successors and assigns if such construction is not so commenced. For the purposes of this deed, commencement of construction shall be deemed to have occurred upon the commencement of.pouring concrete footings for said department store building. In the event such construction shall have so commenced on or before July 1, 1981, or on or before the expiration of the aforemen- tioned sixty (60) day period, or in the event the aforementioned notice is not given on or before July 1, 1982, then for the purpose of corroborating that the real property conveyed hereby has been released from the right of reentry contained in this deed. Grantor, or its successors or assigns, shall execute and deliver in record- able form to Federated, or its successors or assigns, an instrument in- form satisfactory to Federated, or its successors or assigns, confirming such release. In the event the reentry shall have occurred, then Federated or its successors or assigns shall execute and deliver in recordable form to Grantor or its successors or assigns a grant deed covering the real property conveyed hereby containing all of the covenants, conditions, restrictions and .other provisions of the Original Grant Deed, and Grantor, or its successors 7/24/78 -3- ' 182 or assigns shall accept such grant deed and cause it to be recorded in the Official Records of the San Diego County Recorder. Further, in the event the reentry shall have occurred. Grantor or its successors or assigns shall cause that Lease Agreement, dated August 21, 1969, between Grantor and the City of Carlsbad, California to be amended to provide for the inclusion of the real property conveyed hereby in the Site covered by said Lease Agreement. The addresses of Grantor and its successors and assigns and Federated and its successors and assigns for all purposes hereunder are as follows, provided that Grantor or its successors or assigns and Federated or its successors or assigns may each change its address ' for such purposes by written notice to the other:. Grantor: Parking Authority of the City of Carlsbad Carlsbad, California .T Attention: Federated: Federated Department Stores, Inc. 222 West 7th Street Cincinnati, Ohio 45202 Attention: Senior Vice President Real Estate With a copy to: Federated Department Stores, Inc. 15760 Ventura Boulevard Encino, California 91316 Attention: Operating Vice President Notices shall be deemed given upon personal delivery to an officer of Grantor or its successors or assigns, or Federated or its successors -4- or assigns, as the case, may be, or upon a date the same is delivered or delivery was attempted by registered or certified United States mail properly addressed as aforesaid, postage prepaid, as shown on the return receipt. The provisions of this deed shall be binding upon and inure to the benefit of the respective successors and assigns of Grantor 'and Grantee, including, but not limited to, Federated. Dated : August 4, 1978 PARKING AUTHORITY OF THE CITY OF CARLSBAD STATE OF CALIFORNIA) ) S S • COUNTY OF SAN DIEGO) Vice-Chairman By '-ifl^^jj. Cler AT) : O On August 4 signed, a Notary Public, David M. Dunne 1978, before me, the under- Margaret E. Adams, known the Parking Authority of that executed the within persons who executed the corporation therein named corporation executed the tion of said Authority. in and for said State, personally appeared , known to me to be the'Chairman and to me to be the Clerk, respectively, of the City of Carlsbad, a public corporation instrument, and known to me to be the within instrument on behalf of said public , and acknowledged to me that such public within instrument pursuant to a resolu- WITNESS my hand and officia seal. OFFICIAL PFM. 1 iiOTA';..' i>u;;!.!C • CAUf J PRir;C.lfAI. OfiiCE IM K SAN DIEC.O COUNTY ^ My Commission Expires June 22, 1982 ^ Notary Rtrtriic -5-