HomeMy WebLinkAboutGrove Apartments Investment Co; 1981-01-27;CONTRACT FOR THE CREATION-'OF A LIEN FOR PAYMENT
FOR PUBLIC IMPROVEMENTS
THIS AGREEMENT is made by the City of Carlsbad, a municipal
corporation (hereinafter referred to as "City"*), and GROVE
APARTMENTS INVESTMENT CO., (hereinafter referred to as "Property
Owner"), both of whom understand and agree as follows:
RECITALS:
WHEREAS, City and Plaza Carnino Real, a California limited
partnership ("Partnership") have agreed to cooperate in the
expansion of a regional shopping center situated in the City of
Carlsbad; and
WHEREAS, as a part of said expansion the existing-public
parking area owned by the Carlsbad Parking Authority will be
expanded, including the construction of the Marron Road extension
and public improvements related thereto; and .' - •
' ' _ >-• "WHEr'.r.AS, the Partnership has constructed the Marron Road
extension =na;'the public improvements related thereto; and • ' ':
" - WHEREAS, Property Owner owns undeveloped real property
(hereinafter referred to as the "Adjacent Land"), adjacent to the
Marron Road extension. The Adjacent Land was not suitable for
development prior to the construction of the Marron.Road extension,
but has been made suitable for* development by such, construction. ".
The Municipal Code of City would require Property Owner to construct
said extension of Marron Road and the other public improvements
related thereto as a condition of approval for development of the
Adjacent Land; and ..••--'
WHEREAS, City has agreed, throuijh ijts participation in the
expansion of the regional shopping center, that the Marron Road
extension be constructed to its full width and be fully improved in
advance of City's need therefor, thereby conferring a benefit on the
Adjacent Land and relieving Property Owner of the above referenced
obligation to construct public improvements as a condition to
development of the Adjacent Land; and
WHEREAS/ Property Owner in consideration of the construction of
those portions of the Marron Road extension which would otherwise be
the responsibility of Property Owner as a condition of the
development of the Adjacent Land, desires to enter this agreement to
contribute"to the cost of the construction of such-improvements.
NOW, THEREFORE, it is agreed between the parties hereto as
follows:
SECTION J.:. Property Owner/ subject to the provisions of this
Agreement, agrees "to "pay to City the "cost "of cons true ting J^curbs ,:_.£:
gutter, sidewalk, - streetlights and o'ne traffic- lane at "an agreed - ; 3
cost of $26.25 psr: front foot of fronta'ge on the" Marron Road . "•••'•"--•
extension. -Property-Owner has 473 feet of "such frontage as shown on"
Exhibit V'A"/' attached hereto and made a part hereof, and agrees, " -
subject to the provisions of this Agreement, to pay the City the sum
of $12,416.25 for such"construction. • - • -: - -'.-,:__-.v:;
The Property Owner shall pay said sum of $12,416.25 to City upon
receipt of any City permit authorizing affirmative physical' change ;
o~f the Adjacent Lahdp such "as a grading permit or -a building permit-
', ^ SECTION 2: T t for the faithful perfo .ance of the promises
and covenants herein contained, Property Owner hereby grants to City
a lien upon the Adjacent Land in the amount of $12,416,25, and in the
event Property Owner, his successors, heirs, assigns, or transferees,
fail to perform as specified herein, agrees that City may pursue any
remedy, legal or equitable, including those specifically referred to
*
herein, for the foreclosure of a lien, and the owner of the Adjacent
Land, at the time of foreclosure, shall be liable for reasonable
attorney's fees as a cost in said proceedings.
SECTION 3: 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 first mortgage or first deed of trust for value
which has been or may in the future be executed by the Property
Owner, his successors, heirs, assigns, or transferees, and the lien
- "hereby created shall be-and;: is hereby, subordinated.-to and jdeclared . {
":~~ •/_-to ~be inferior and subsequent.:in ;lien -to the* lien of any\/such first
.^ ". mortgage or-first deed of trust.:: The -lien- hereby' created"shall -" . .-"-"
.likewise be of no force or effect against any owner wliose title to ;
;-_.. the Adjacent Land, is acquired-by or as a result of a foreclosure or Vi^-r.
. .trustees' sale of any such first mortgage or first deed of trust 1:.::--.
-;•:•• SECTION 4: That at" any: time during the period Herein ~ -~-:~ ../;.= ^.;^_^'•'-.-
provided, the Property Owner, his successors, heirs, assigns, or
transferees may deposit a cash bond or post a surety performance .-
bond satisfactory tox the City to charge said surety with the cost of : -.-
Property Owners obligation; the amount of bond to be $12,416.25 and •'
that upon deposit of said cash or posting of said bond the City
' ' :•' •- - ' '- -; -3- " . •••.'' •''•...." .-.-
agrees to release the Adjacent Land/^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 5: 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
the Adjacent Land, and create an equitable servitude upon said
Adjacent Land.
This Agreement and the covenants contained herein shall be
binding upon and inure to the benefit of Property Owner and the
successive owners of the Adjacent Land only during "their respective
periods of ownership of the Adjacent Land and shall not be an
obligation, upon the person which survives a transfer of the Adjacent
Land. Arr-r -ersonal obligation created hereunder shall terminate~ ~ ^ - : . .... . „ - . . . _ ". ^" __ • _-- ' _-'
.,"•"-. * . - . • • - ""'•-' -" — 1.' ™ r_".
vupon.. trar.sf sr of the Adjacent Land. ' .."~"'~~- '••""'" '"''"'"•'.
:' •• ?£ SECTICN 6: The Adjacent Land upon which said lien is imposed
"is described on Exhibit A, attached hereto and made a part hereof.
^" "\- SECTION 7: Any lien not called by City when that certain
"Agreement between the City of Carlsbad, the Parking Authority of the
• < _ •-.> . -
City of Carl.sbad and Plaza Camino Real dated November 5, 1975, on
.file in the office of the City Clerk, terminates, shall be released
by City. ' - •
-4-
IN WITNESS WHEREOF, the parties'^hereto have executed this
Agreement on the ^*7 *^ day of vJ"ftMu.ftR V_ , 1QQO-.
ATTEST:
ATTEST:
CITY OF CARLSBAD, A Municipal
Corporation of the State of
California
/-9 „
Mayor
Grove Apartments Investment Company
By: H.F.H., LTD. ///! ^S (//U
^/—b—"\jn- (_,< #'Property Owner By: Robert
General /Partner
APRKBVED AS IO FORM
lJ^ FT^Bl OWCO, JR.
City Attorney
-5-
ASSESSOR'S PARCEL NO,OWNEti FRONT FOOTAGE
154-160-03
154-160-04
154-160-05
154-160-21
154-160-24
154-160-25
156-080-10
156-080-11
156-080-12
tl
156-080-15 '/
Bernard Citron,
Fawco, Harry Frank, Jr.
Bernard Citron,
Fawco, Harry Frank, Jr.
Bernard Citron,
Fawco, Harry Frank, Jr.
Bernard Citron,
Fawco, Harry Frank, Jr.
Bernard Citron,
Fawco, Harry Frank, Jr.
Bernard Citron,
Fawco, Harry Frank, Jr.
Grove Apartments.
.Investment .Co.' "
G-rove Apartments -
Investment Co.
Grove Apartments
Investment CO".
Grove Apartments- ;-v
Investment Co. - ' .
Grove Apartments
^Investment Co. = - ~ •->
350
241
221
875
235
533
20
473
1057
396
EXHIBIT A
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