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Home My WebLink About1981-01-27; City Council; N/A; Plaza Camino Real Bond Issue Marron Road Reimbursements MEMORANDUM DATE: January 27, 1981 TO: Mayor and City Council FROM: City Attorney SUBJECT: PLAZA CAMINOtREAL BOND ISSUE--MARRON ROAD REIMBURSEMENT The property owners adjacent to the Marron Road extension have all exercised their option under the Plaza Camino Real Expansion Agreement. The property owners are obligated to pay a specified amount for each foot of frontage on Marron Road when their properties receive developmental approvals from the City. The obligation to pay is secured by a lien against the property. Attached is a copy of the agreement with May Centers, Inc., Bernard Citron, Fred A. Bartman, Jr., the Marital and Residuary Trusts of William S. Bartman, and Harry-J. L. Frank, Jr. it covers Assessor's Parcels 154-160-03, 04, 05, 21, 24 r,.ad 25. There is 1,922 feet of frontage at $35.00 per foot, .for a total lien of $67,270.00. The other five agreements with Grove Apart- ments Investment Company, Inc. are not attached. They are identical in all respects, except that the per foot amount, pursuant to the Basic Agreement, is $26.2.5. The only other difference in the agreement is the reference to a different parcel number, frontage and lien amount. That information is as follows: GROVE APARTMENTS INVESTMENT CO., INC. PARCEL FRONTAGE LIEN 156-080-10 533 $13,991.25 156-080-11 20 525.00 156-080-12 473 12,416.25 156-080-17 1,057 27,746.25 156-080-15 396 10,395.00 2,479 $65,073.75 It is recommended that the City Council adopt Resolution No. 6431 approving ',-he six agreements -and authorizing the Mayor to' execute them. In addition, the City Clerk should he directed to immediately .jl� Mayor and City Council -2- January 27, 1981 record the agreements and then steps will have to•be taken to setup an administrative procedure which will trigger_ the collection of the lien when developmental approvals are issued for the property. VINCENT F. BIONDO, JR. City Attorney VFB/mla Attachment Council Action : .1-27-81 Council adopted Resolution 6431, approving and authorizing the execution of five agreements with Grove Apartments Investment Company and one agreement with the May Centers, Inc.; Bernard Citron; Fred A. Bartman, Jr., The Marital Trusts, Created under the Last Will of William S. Bartman; the Residuary Trust, created under the Last Will of William S. Bartman; and Harry J. L. Frank, Jr. relative to property owners' contribution toward extension of Marron Road for Plaza Camino Real Regional Shopping Center Expansion.. L Cnt TRACT FGR '13E C RSATI: N OF- A LIEN FOR PAY'•1_'1dT FOR PUBLIC IMPROVEMENTS THIS AGREEMENT is made by the City of Carlsbad, a municipal corporation (hereinafter referred to as "City"), and MAY CENTERS, INC., BER_-HARD CITRON, FR.ED A. $ART:•SA1\T, JR. , THE MARITAL TRUST, THE RESIDUARY TRUST, AND H aRY J.L. YRn1.\7K, JR., (hereinafter referred to as "Property Owner"), both of whom understand and agree as follows: WHEREAS, City and Plaza Camino 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 -,.. WHEREAS, the. -Partnership has constructed the Marron Road extension and the public improvements related thereto; and, WHEREAS, Property .Owner -owns undeveloped seal 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 .lunicipal Code -of City would require Property Owner to construct said extension of Marron -.Road and the other public isnprovements related thereto as a condition of approval for develop:,,ent of the Adjacent Land; and--,-- W-iEREAS, City has agr-ed, t')ro_gh its Partici,^..a ion in '_]'-Le J, exi ansion of the regional shopping center, Y:at -he 'S.rr•;n Road extension ne constructed to i S full Ni4ith ar,d _ f111_,7 4-r:i_)ra.ed in advance of City's n_-ed t?-;-refor, t;-iereby conferring a benefit on the Adjacent Land and relieving Property Owner of the above referenced 3bll J.7t i on to cc>his - r;1ct as a condition to development of the Adjacent Land; and ?-?EREAS, Property Owner in consideration of the construction of those p.Drtions 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 Y contribute to the cost of the construction of such improvements. NOW, THEREFORE, it is agreed between the parties hereto as follows: SECTION 1: Property Owner, subject to the provisions of this Agre-erlent, agrees to pay=ttr City. the: cost _of constructing curbs, gutter, sidewalk;. stre_et1L-1;4 its: and. one-- traffic -lane at `an agreed- - cost of $35.00 per front -foot bf frontage on the .•.arron Road extension. Property Dviner- has-- 1, 922. feet of such frontage as shown on Exhibit "A", `attzched` iareto- and -made a part hereof,- and agrees, subject to the provisions. of this Agre�.aent, to pay the City the sum of $67,270.00 for such construction. The Property -Owner sna-i1,pay said sum of Y67,270.00 to City upon receipt of any City permit:. authorizing affix; ,ati• e physical - change of the Adjacent Land', such as a grading pi-r-oit or a bui ltling permit. - J SECTION 2: Th-at for the faithful rjarfor.�.-:ince of the pf-o-ris,:!s and covenants herein c3n11-;:_-*used, Prcparty 0,;nar 'hereby grants to City a lien upon -he '--_-d in of $67,270.00, and in the event Property Owner, his successors, heirs, assigns, or . transferees fail to perform as specified herein, agreas that City :.,ay p.,rs-e any remedy, legal or equitable, 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 costinsaid 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 hezeby created.- shall -.be and is. h:ereby'subordinated to and d=-clared,- to be in-f eri&r` aria-' §Iiblgequent id lien to t1ne 1 ien of any such first mortgage" or, first, of trust--* Thelienhereby created shall likewise beofno force or effect against any owner whose title to -ftt--Land is' acciu.ired. by or as a r "he Adj��e ei;-tilt- of a fore -closure or_ ': trustees' sale of -'hy- such first mortgage or first deed of trust." SECTION 41 'fhat at any time during the period 1herein,.',,_.:_____. Z. provided., -the Property -Owner, his successors,.heirs, asslans, or-, transferees may deposit a cash bond or post a -surety performance_ bond satisfactory to th e - C ity to charge said surety with the cost of - Property'__Owobliqa-:�6n; the amount of b5nd to be $67,270.00, and, that upon Cepo s t of s _a'i d- Ls'lh or posting of said bond the City agrees to rel�.nse the Afijacant Land,_ or any p,Drtion of it ,_s to which said depcsit or posting applies, from the p r oz isions of this ayf _nt, and to execute any ne,:-3Fsary rel _ase to the rF t title of the prop -arty to be released from the lien herein imposed. SP.CTION 5: This AgreG:,.ent and t-'he covenants contained herein s?;all be binlinc± u-,_',n end i~�.ra to t'.: 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. Any personal obligation created hereunder shall terminate upon°..transfer of the Adjacent- Land. - - SECTION= 6: .- The Adjacent Land uvon"tahich` said lien.'is- imposed is described on Exhibit Ai attached hereto and -lade a part hereof.- - SECTION 7: Any lien not called by City when that certain .AgreP..zent between the_Ci- of Carlsbad, - the Par'{ing Authority of the 'City of_ Carlsbad and Plaza Camino Real dated _"ove.rrer 5, 1975, on -file in the: office of the City Clerk, terminates; shall be released--_ - by City. IN W . _"' the art - .es hefe to hav e executed th is A,.rec.,ent on t'r;e day of 1980. ATT EST: City Clerk— APPROVED AS TO FORM: VINCENT F. BIONDO, JR. City Attorney CITY OF CAP11SBAD, A Municiy al Corporation of the State of California Mayor Property Owner: ,\�((A'Z� - "Y CEty;ERS, NC. By President BERNARD CITRO-7 ---_ _ FRED A. BARTMAN, JR 3RJSI',.r� _L�ca ....F�z the Last Will of ,, illiam S . Bart • an, By Trs.stee TEE z::S 1D!:ARY TRUST', fir gin+ ad - under the Last Will of «'illiam S Bart:r,an, By Trustee -5- ASSESS,->F' S •. , ; .� E 154-16:-03 S�rnard Citron, 350 ^o, Harry . rank, Jr. 5v-04 B r:�ard Citron, 241 Fawco, Harry Frank, Jr. 60-05 Bernard Citron, 221 Fawco, Harry Frank, Jr. L154-160, Bernard Citron, 0 Fawco, marry Frank, Jr. 610-24 Bernard Citron, 875 Fawco, Harry Frank, Jr. -25 Bernard Citron, 235 wco, Harry Frank 156-080-10 Grove Apartments Investment Co. 533 156-080-11 Grove Apartments Investment Co. 20 156-080-12 Grove Apartments Investment Co. 473 156-080-14 -- -:= - _;- _ Grove Apartments - --T. 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