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HomeMy WebLinkAbout1974-08-06; City Council; 3149; Agreement with Sequoia Pacific for Subdivision Poinsettia Lane Improvements CT 71-02•?> HE CITY f**- OF CARLSBAD*"*' CALIFORNIA4 <y<rAgenda Bill No.' *?/f"7 Date: August 6. 1974 7 Referred To: Subject: ~ Submitted By Agreement with Sequoia Pacific Public Works for Subdivision Improvements at Poinsettia Lane (CT 71-2) 'Statement of the Matter Prior to approval of the Sequoia Pacific portion of the Occidental Master Plan area a deposit of $68,000 in cash was made by the de- veloper in lieu of street improvements on Poinsettia Lane. The deposit was made for a 10-year period in order to give the-City the option of using the money to construct either standard street improve- ments or to incorporate the improvements as part of the bridge approaches if the bridge project is approved. The attached agreement details the understanding in this regard between the City and Sequoia Pacific and provides for the handling of the deposited funds. Exhibit Resolution No. ^tt- lit approving agreement for Sequoia Pacific subdivision improvements. Staff Recommendations to City Manager If the Council approves the agreement as proposed, your action is to adopt Resolution No. 3*/ 1L authorizing its execution. AB No,Date: Anmisf fi. 1974 City Manager's Recommendation Concur with staff. Council Action 8-6-74 Resolution #3476 was adopted, approving the agreement between the City and Sequoia Pacific and authorization for execution of the same. — 2 ~ 8 9 10 11 12 13 14 89o< CO 3 = <^" <o" "•" = ig° iiig|§ 17-^ is >fc~ - 18 15 16 H>£°z£ 8 o8i2<S0 19 20 21 22 23 24 25 26 27 28 29 30 31 32 RESOLUTION NO 3476 A RESOLUTION OF THE'CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA APPROVING AN AGREEMENT BETWEEN THE CITY OF CARLSBAD AND SEQUOIA PACIFIC REALCO FOR SUBDIVISION IMPROVEMENTS AT POINSETTIA LANE (CT 71-2 ) AND AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT. The City Council of the City of Carlsbad, California, does hereby resolve as follows: 1. That that certain agreement between the City of Carlsbad and Sequoia Pacific Realco for subdivision improvements at Poinsettia Lane (CT 71 -2 ), a copy of which is attached hereto marked Exhibit A and incorporated herein by reference, is hereby approved. 2. That the Mayor of the City of Carlsbad is hereby authorized and directed to execute said agreement for and on behalf of. the City of Carlsbad. PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council of the City of Carlsbad, California, held on the 6th day of August , 1974, by the following vote, to wit: AYES: Councilmen Frazee, Chase, McComas, Lewis and Skotnicki. NOES: None ABSENT: None / ROBERT C. FRAZEE, Mayor ATTEST : MARGARET 'E--\ ADAMS k',e*ty Clerk i~ \ •,' ' • 1 -. "? ••;''>*. (SEAL)\ v »'';•''•/', > ' / - /*"»», TRUST AGREEMENT I. PARTIES The parties to this Trust Agreement (hereinafter called "Agreement") are the CITY OF CARLSBAD, a municipal corporation organized under the laws of the State of Cali- fornia (hereinafter called "City"), and SEQUOIA PACIFIC REALCO, a California general partnership comprised of Golden Empire Investment Corporation and Birren Corporation, both California corporations (hereinafter called "SPR"). II. RECITALS SPR owns certain real property (hereinafter called "property"), described in Exhibit A attached hereto and incor- porated herein by this reference. City has approved a final subdivision map of the property, designated CT 71-2, Unit 1 (hereinafter called "map"), and required as a condition to approval of the map that SPR deposit with City $68,000.00 (hereinafter called "funds") to be used for certain street improvements adjacent to the property that City plans to construct in the future (hereinafter called "improvements"). Standard subdivision practice in City would require that SPR construct the normal subdivision street improvements prior to final map approval or,in lieu thereof, execute a subdivi- f sion improvement agreement secured by a surety bond provid- ing for their construction at some subsequent time. The improvements in this case directly relate to a proposed grade-separated bridge crossing over the A.T.& S.F. Railroad right-of-way at Poinsettia Lane. Construction of said cross- ing has been delayed and perhaps precluded by the action of the San Diego Coast Regional Commission. If City is able to accomplish the bridge construction, the improvements, in- cluding streets and appurtenances, will become part of the bridge approaches. If the bridge construction is not pos- sible, the improvements will be a regular street and appur- tenances to established City standards for subdivisions. City anticipates resolving the matter, making a final decision on which types of improvements are required and accomplishing their construction within a ten-year period. To accommodate this situation SPR agrees to deposit cash in lieu of constructing the improvements to be used together with the interest by the City to fund either the standard street improvements or the street improvements cum bridge approaches as City shall determine to be appropriate. On or about May 17, 1974, SPR deposited the funds with City. City and SPR intend that the funds shall be in substitution for a certain bond from .the Insurance Company of North America as surety dated April 22, 1974, as bond number M86-88-26 in the amount of $75,000.00 (hereinafter called "bond"), which SPR previously deposited with City, and which should now be returned to SPR for cancellation. III. USE OF FUNDS City hereby acknowledges receipt of the funds from SPR and agrees that the funds are and shall be held by it in trust for the benefit of City and SPR for a period not to exceed ten years commencing on May 17, 1974 and expiring on May 16, 1984, subject to the following terms and conditions: (a) City shall maintain the funds in an account which shall be separate from all other funds and accounts of or held by City, and which shall be deposited and invested in accord with the laws governing the deposit and maintenance of the funds of a municipal corporation; (b) All interest on the funds shall be accumulated during the term of the trust and deposited and invested in like manner as the principal; 2. (c) During the term of the trust, City is authorized to withdraw from the funds and accumulated interest suffi- cient money from time to time to pay the cost of the improve- ments as set out in the recitals hereto according to estab- lished procedures for construction of City projects as and when those costs are incurred. (d) Upon completion and final acceptance of the improvements by City and upon the City Manager's determina- tion as to the satisfaction of all outstanding obligations therefor, that portion, if any, of the funds and accumulated interest remaining in the trust shall be refunded by City to SPR, and the trust shall then terminate. In the event the improvements are not constructed prior to the expiration of the trust on May 16, 1984, the funds and accumulated interest shall be refunded by City to SPR. IV. NO OTHER LIABILITY SPR has no liability or duties with respect to the improvements except as expressly provided in this Agreement. V. ACCOUNTING City agrees to deliver to SPR from time to time accounting statements setting forth the interest accumulated on the funds, the balance remaining in the trust account, and the withdrawals by City from the trust account, and City shall deliver to SPR copies of any and all statements rend- ered by the bank in which the funds are deposited as received by City. The accounting statements shall be delivered to SPR no less frequently than every December 31 during the term of the trust, and at such other times as City shall determine to be reasonable and just to keep SPR informed of the current status of the funds. VI. BOND City agrees to return the bond to SPR for cancella- tion concurrently with the execution of this Agreement. VII. MISCELLANEOUS PROVISIONS A. Attorneys' Fees 3. In the event legal action is commenced to enforce or interpret any of the terms or conditions of this Agreement, the prevailing party shall be entitled to recover from the losing party reasonable attorneys' fees and costs incurred, not limited to taxable costs, determined by the court or jury, in addition to all other relief to which the prevailing party may be entitled. B. Successors This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of City and SPR. C. Governing Law This Agreement shall be governed by the laws of the State of California. D. Notices Any and all notices or other communications required or desired to be given by one party to the other under this Agreement shall be personally served or given by mailing the notice or other communication in the United States mails, postage prepaid, registered or certified to the address given below or to such other address as a party may give the other by written notice. City of Carlsbad 1200 Elm Avenue Carlsbad, California 92008 Attention: City Manager Sequoia Pacific Realco 1000 South Grand Avenue Santa Ana, California 92705 Attention: Arthur B. Birtcher VIII. EXECUTION This Agreement is executed this 7 day of , 1974. CITY OF CARLSBAD Robert C. Frazee, Mayor 4. c ATTEST: Ma E. Adams, (City Clerk PPROVED AS/-TO FORM: ; 1 - ///x^?!^ v Vihceht FT Biondo, "3r, /)/" City Attorney (y Planning & Constilictloa SEQUOIA PACIFIC REALCO, a California general partnership By: Birren Corporation, a general E. Birtcher / Chairman of the STATE OF CALIFORNIA ) ) ss. COUNTY OF ORANGE On _ / 1974, before me, the undersigned, a Notary Public in and for said State, personally appeared Ronald E. Birtcher _ , known to me to be the Chairman of the Board of the corporation that executed the within instrument, known to me to be the person who executed the within instrument on behalf of the corporation therein named, and acknowledged to me that such corporation executed the within instrument pursuant to its bylaws or a resolution of its board of directors. WITNESS my hand and official seal. Notary Public STATE OF CALIFORNIA COUNTY OF Orange On th.-.26th nf July ., i9li_, before m» the undersigned Ronald E. Birtcher a. _v «i=•c Cc 3O -j; a Notary Public in and for said Slate personally appeared known fo me to be ths Chairman oUh.g,.Bg|ard known to me fo be the , . , , _. L ^ the corporation that executed the within instrument and known to me to be the persons who executed the within instrument on behalf of said corporation, said corporation being known to me to be one of the partners of_ -Secretary of Birren Corporation Sequoia Pacific Realco I'the partnership that executed the within instrument, and acknowl- edged to me that such corporation executed the partner and that such parfner^iip executed the same WITNESS my hand and Signature SHaron N. Ritchie Name (Typed or Printed) OFFICIAL SEAL SHARON N. RiTCNiE NOTARY f>U3L!C - CALIFORKttA PRINCIPAL OFFJCE IN - ' ORAPJGE COUNTV My Commfesion Expires Aa.;«st 17,-1975 (This area for official notarial seal) TRUST AGREEMENT Exhibit A Name of Sub-Division: CT71-2, Unit No. 1; recorded June 6, 1SJ4... •*»»•«.'" . • Recorders Map No. 7954 Name of Sub-Divider: Sequoia Pacific Realco, a partnership Description of Street Improvements; Construction of the south half of the street known as Poinsettia Lane, commencing from the center line of Avenida Encinas at the east and terminating at the easterly boundary line of the Atchison, Topeka and Santa Fe Railroad right of way at the Xirest, which is a part of the following described property: . That portion of the Southx*est Quarter of Section 28, and portions of Lot 3 and 4, Section 29; Township 12 South, Range 4 West, 3an Bernardino Meridian, in the.County of San Diego, State of California, described as . "•'; •• ' follows: -.•''.-'-..-'• •' \ " . i '. • ' • . •.'.'•.. . ..'•... . Cotnrner.cing at the Southwest corner of said Section-28; thence North 00°02'20" West along the-West line of said Section 28, 681.85 feet to the Northwest corner of~ the South Half of the South Half of the Southwest Quarter of said Section 28; thence South 89°57'53n East, 185.03 feet (record - 185.21) feet to -the Easterly line of the Atchison, Topeka and Santa Fe Railway Right-Of-Way _ - 200.00 feet wide, and the TRUE POIBT OF BEGI^'ISG; thence Morth '21*08'32lr West along said Easterly line 1982.76 feet (record - 1982.66) feet to the center line '• of Poinsettia Lane; thence North 76C16'30" East along said center line 710.09 feet to a point that is.South 76°16'30" West, 246.00 feet frooi the Westerly Right-of-way line of the San Diego Freeway; thence South 13"43'30" East 50.37 feet to a tangent curve concave Easterly and having a radius of 600.00 feet; thence Southerly along said tangent curve and arc distant of 302.48 feet through a central angle of 28°53'04" to a tangent curve concave Westerly and having a radius of 600.00 feet; thence Southerlv along said-curve an arc distance of 238.34 feet through a central angle of 22:45'34" to a tangent line; thence South 19''5Lf0011 IJast along said tangent "line'355.00 feet to a tangent curve concave Northeasterly and having a radius of 500.00 feet; thence Southerly and Easterly along said curve an arc distant of 376.32 feet (record - 376.33) feet through a central angle of 43:07'25" (record 43'07'29I!%> to a radial line; thence South 27'01'31" v.'est along the prolongation of said radial line 1002.67 fee: (record 1002.43 feet) to the clortherlv line of the r>o-.;f.h Half of-the iouth Tail" of li>o iout.r.west. Quarter •,..--,-. Of saicj section 2S; thence North 89 57' 53" 'l.'est alone; said Northerly line 153.82 .0- .;/,. foc: to the Easterl-, li::e of't!;e Atchison, lopeka arid Santa i-'e Railway Right -of-way 518593 and tti'e TRt..T. I;0:^.T .Or KXI'C.'IN'C