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HomeMy WebLinkAbout2003-03-11; City Council; 17101; Prepayment Agmt - Church of Latter-Day SaintsCITY OF CARLSBAD -AGENDA BILL IO AB# 17,101 TITLE: AUTHORIZE A PREPAYMENT AGREEMENT MTG. 03/11/03 DEPT. FIN BETWEEN CITY OF CARLSBAD AND CHURCH OF DEPTHD. * JESUS CHRIST OF LATTER-DAY SAINTS FOR CUP 01 -04 CITYMGR. RECOMMENDED ACTION: Adopt Resolution No. 2003-071 authorizing the Mayor to execute a prepayment agreement between the City of Carlsbad and the Church of Jesus Christ of Latter-Day Saints for CUP 01-04. ITEM EXPLANATION: One of Council’s strategic goals is to provide and maintain a multi-modal transportation system that moves goods, services, and people throughout Carlsbad in a safe and efficient manner. This is reflected in the Growth Management Plan that requires each zone within the City to complete a Local Facilities Management Plan identifying how the zone will furnish the necessary public facilities to serve its needs. For a number of years, staff has worked with property owners in Local Facilities Management Zones 11, 12, and a small portion of 6 to form a Community Facilities District (CFD) to finance the construction of Rancho Santa Fe Road and Olivenhain Road improvements, as required by the Local Facilities Management Plan for these zones. This CFD (known as CFD No. 2) was intended to provide the property owners and the City with a feasible financing tool that could guarantee that funds would be available for the construction of the roads, when needed. The delays in the formation of the CFD proved to be a major problem for some of the property owners in the area who had met all of the non-circulation conditions placed on their maps. Beginning in late 1993, Council began allowing property owners to prepay their obligation under CFD No. 2 in exchange for an agreement. This agreement provides the City with: (1) the support of the property owner in the formation of CFD No. 2; and (2) funds to begin work on the most critical portions of the circulation plans. Since that time, a number of agreements have been approved by Council and have paid their fair share amount. This has allowed the design and construction of the road improvements to commence. Three major road segments and a major intersection improvement are to be financed through funds generated by CFD No. 2. These include: Olivenhain Road from Amargosa Drive to El Camino Real, which is complete; Rancho Santa Fe Road from Olivenhain Road south into Encinitas, which is under construction by the developer of the Shelley property; Rancho Santa Fe Road from La Costa Avenue to Melrose Drive, which is currently under construction by the City; and the Rancho Santa Fe Road/Olivenhain Road intersection, which is currently in the design phase. This agenda bill is requesting approval for the project being developed by the Church of Jesus Christ of Latter-Day Saints to prepay their CFD No. 2 obligation. The project is located in Zone 11 as shown on the attached location map. The prepayment agreement is for construction of a 16,842-square-foot church and required parking lot. This agreement would allow the project to proceed through the approval process by providing a means for meeting circulation system financing requirements found in Planning Commission Resolution No. 51 99. The agreement allows the developer to pay a fixed fee per acre for each developable acre covered by the CUP, thereby meeting their obligation to participate in the funding of the Zone 11 circulation system. By approving the agreement, Council will be making two significant findings. The first finding is that the prepayment of the property owner’s fair share represents an adequate financing Page 2 of Agenda Bill No. 17,101 guarantee under the Growth Management Program. This finding is based on the special case assumption that a CFD is in the formation process, and it is the CFD that actually provides the financing guarantee. The second finding is that the project does not create a major impact on the existing circulation facilities. The City Engineer agrees with these findings as they relate to this project. ENVIRONMENTAL REVIEW: Based on an environmental impact assessment performed by staff in which potentially significant impacts to water quality, geological resources, and biological resources were identified and mitigation measures were formulated to reduce the identified impacts, the Planning Director issued a Mitigated Negative Declaration on January 23, 2002. No comments were received during the public review period. FISCAL IMPACT: The funding of the Rancho Santa Fe and Olivenhain Road projects has been a major concern for the City and the property owners for many years. The total project costs are projected to total over $40 million and affect the development of approximately 2,400 acres of land in southeast Carlsbad. Payment for the project will come from prepayments of, and taxes collected under, CFD No. 2 as well as a contribution of $6 million from CFD No. 1. The Church’s project will contribute approximately $236,980 to the CFD No. 2 fund to pay their fair share of the project costs, which are estimated at $10,250 per Equivalent Dwelling Unit. The calculation of the fee amount is on the last page of the Agreement. EXHIBITS: 1. Resolution No. 2003-071 authorizing the Mayor to execute a prepayment agreement between the City of Carlsbad and the Church of Jesus Christ of Latter-Day Saints for CUP 01-04 2. Petition, Waiver, and Consent to Creation of a Community Facilities District and Agreement to Pay Fair Share 3. Location Map 1 2 3 4 5 6 7 8 9 IO 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 2003-071 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR TO EXECUTE A PREPAYMENT AGREEMENT BETWEEN THE CITY OF CARLSBAD AND CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS FOR CUP 01-04 WHEREAS, the City of Carlsbad City Council has required that the funding of Rancho Santa Fe Road and Olivenhain Road (Project) must be guaranteed before any development takes place in the area bounded by Local Facilities Management Zones 11 and 12, and portions of Zone 6; and WHEREAS, the Council has directed City staff to proceed with the formation of a Community Facilities District (CFD No. 2) to finance the Project; and . WHEREAS, although the Council anticipates that CFD No. 2 will be formed in the future, the Council is willing to consider alternative financing proposals during the period from the present to the formation date of CFD No. 2; and WHEREAS, the Council finds that the guarantee provisions related to the Project may be met through an interim financing program using an agreement between certain property owners and the City whereby the property owner agrees to prepay hidher fair share of costs associated with the Project; and WHEREAS, the Church of Jesus Christ of Latter-Day Saints intends to build a 16,842-square-foot church and required parking lot in Local Facilities Management Zone 11 identified as CUP 01-04; and WHEREAS, the City Engineer has determined that, due to the size of the Church’s development, there will be no major impact on the circulation system at the present time if the development is allowed to proceed; and, WHEREAS, the Council finds that the Church of Jesus Christ of Latter-Day Saints may enter into the attached Agreement to Pay Fair Share in satisfaction of their obligation under the Project financing conditions. 1 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 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carl&&, California, as follows: 1. That the above recitations are true and correct. 2. That the Mayor is hereby authorized to enter into the attached agreement entitled “Petition, Waiver, and Consent to Creation of a Community Facilities District and Agreement to Pay Fair Share” between the City of Carlsbad and the Church of Jesus Christ of Latter-Day Saints. PASSED, APPROVED, AND ADOPTED at a regular meeting of the Carlsbad City Council held on the 11th day of MARCH , 2003 by the following vote, to wit: AYES: Council Members Lewis, Kulchin, Hall, Packard NOES: None ABSENT: Council Member Finnila Cl%Obi“A. LEWjS! Mayor - -7 ATTEST: (SEAL) Page 2 of 2 of Resolution No. 2003-071 WHEREAS, Property Owner desires to proceed with processing prior to the formation of District; and, WHEREAS, Conditional Use Permit (CUP 01-04) requires that the Property Owner contribute its fair share of the costs of the District improvements; and, WHEREAS, the City and Property Owner desire to agree to an alternative method of financing the improvements described in Section 1 herein that will allow Property Owner to discharge its fair share and obligation for said improvements in lieu of, or in anticipation of, participation in District; and, WHEREAS, the City Council agrees that Property Owner, upon entering into this Agreement and upon payment of the fair share described herein, has met the requirement set forth in Conditional Use Permit (CUP 01-04) for its fair share contribution; and, WHEREAS, Property Owner voluntarily enters into this Agreement with respect to the Project; and, WHEREAS, the City Council has determined that due to the size of the proposed development, there will be no major impact on the circulation system at the present time if development of the Project is allowed to proceed with sufficient financial guarantees for future construction of Property Owner’s fair share of the Circulation improvements. NOW, THEREFORE, in consideration of proceeding with the processing of the Project, the undersigned Property Owner and City hereby agree and certify to the following: I. Property Owner hereby petitions the City for the initiation of the proceedings for the formation of District which will cause the construction and installation and/or financing of the following improvements (hereinafter “Improvements” which are generally described as follows: a) Rancho Santa Fe Road North Phase 1 (RSF No.1) La Costa Avenue to east of Mahr Reservoir 2 b) Olivenhain Road Wideninq, and intersection improvements at Olivenhain and El Camino Real c) Rancho Santa Fe Road North Phase 2 (RSF No. 2) Phase 1 End to Melrose Drive d) Rancho Santa Fe Road South (RSF So.) (Assumes Secondan/ Arterial Standard - Encinitas City Boundary to Olivenhain Road Full Improvements 2. The cost of construction, engineering, environmental mitigations, legal, and other incidental expenses as set forth in the Improvements Budget will be funded by the District. 3. Property Owner acknowledges its right to notice of and participation in all phases of formation under the "Mello-Roos Community Facilities Act of 1982," expressly waives the proceedings required and all limitations contained in Title 5, Division 2, Chapter 2.5 of the California Government Code and nonetheless with full knowledge of such rights, completely and forever waives such rights. Specifically, Property Owner hereby consents to the proceedings and waives any right to protest the formation of the District and the ordering of the improvements under applicable California statutes and consents to and supports formation of said District with respect to the Project. The City shall exclude the Project from the District boundary map if, prior to the adoption of a Resolution of Intention by the City Council to form said District, Property Owner has entered into this agreement and has paid to the City all amounts due as described herein. 4. a) Property Owner agrees to pay to City, or provide, its fair share for the improvements described in Section I. b) Said payment, or provision, shall be made in the manner described in Exhibit "A," Rate and Method for Determining Fair Share Obligation Rancho Santa Fe and Olivenhain Road, which is incorporated herein by reference. c) The amount of Property Owner's fair share will be conclusively determined by the City Council in the manner described in Exhibit "A" attached hereto. 3 d) Payment by Property Owner of its fair share of improvement costs as determined by City Council and set forth herein will satisfy its obligations for Condition No. 20 of Conditional Use Permit (CUP 01-04). e) Alternatively, if the District is formed and Project is included within it, Property Owner's obligations to pay its fair share pursuant to the agreement shall be satisfied upon payment of all taxes imposed, established, and payable to said District. 5. Property Owner acknowledges that this agreement to pay its fair share and participate in the financing of improvements is voluntary and that without this agreement Property Owner would be precluded from obtaining final .map approvals or building and other development permits under the provisions of the Generat Plan, Chapter 21.90 of the Carlsbad Municipal Code, applicable zone plan, financing plans, and related documents until a satisfactory financing program has been developed to fund the construction of the improvement described in Section 1. 6. Property Owner hereby waives his right to challenge the amount, establishment] or imposition of said fair share and further waives any rights to pay said fair share under protest. 7. This Agreement does not affect, in any way whatsoever, the obligation of Property Owner to pay any other fees or assessments associated with Property Owner's development andlor to post improvement bonds as required by the City Engineer. Nor does this Agreement relieve Property Owner from providing other public facilities required under conditions placed upon the property by Conditional Use Permit (CUP 01-04) or other development approvals. 8. Property Owner agrees that payment of its fair share is not a fee and waives any and all rights to notice of or challenges to the establishment or imposition of said fair share as a fee under provisions of Government Code section 66000 et seq., or any successor or related statutes. 4 9. a) If the District is formed subsequent to the payment by Property Owner of the fair share pursuant to this Agreement, Property Owner's financial obligation shall be recalculated using the taxing formula established for the District for the Improvements described in Paragraph I. If that obligation is lower than the amount previously paid or provided by Property Owner to City, City shall refund any excess, in the manner described below. b) Any refund shall be made from funds available within District upon District formation and shall not be an obligation of City's General fund or other revenue sources. c) In the event that sufficient funds are not available from District's resources, Property Owner shall be reimbursed, as determined by the City Council, through the payment of one-time taxes or annual undeveloped land taxes to the District. The City is not required to establish an undeveloped land tax within the District to provide such refund. d) No reimbursement is required until the City Council determines that sufficient funds are available. Any refund to Property Owner shall not include interest. e) Any payment received by the City under this Agreement shall be deposited in a special interest-bearing fund and may only be used to fund the construction of the facilities described herein. Upon the formation of a CFD to fund these same Improvements, any amount remaining in the special fund may be transferred to the CFD fund, at the discretion of the Finance Director. IO. Upon completion of the Improvements, and recording of the Notice of Completion for the final phase of the Improvements, the City Engineer shall determine the total cost of all phases of the Improvements and all related work (Costs), and the Finance Director shall determine the total amount of revenue including fees, taxes, interest earned on funds restricted to use only on the Improvements, and other sources of funds received by the City dedicated to paying for the construction of the Improvements (Revenues). The Finance Director shall then compare the amount of Costs and Revenues to determine if there are any excess Revenues as described below. If excess Revenues of more than $100,000 exist, the Finance Director shall provide refunds to all eligible parties of all excess Revenues in an amount and in the manner described below. If excess Revenues 5 are equal to or less than $100,000, the City shall retain these funds in a special fund to be used to finance street repair, maintenance, and landscaping within the Improvements. a) The total amount of excess Revenues shall be determined by deducting the amount of the project Costs from the available Revenues. Total project Costs shall include all costs to plan, design, construct, mitigate environmental impacts, inspect, and otherwise complete the project to the satisfaction of the City Engineer, including applicable charges for City staff services. Total Revenues shall include all monies held by the City dedicated exclusively to the construction of the Improvements including any fee revenues earmarked for the Project, CFD No. 2 taxes, applicable CFD No. I taxes, grants, and interest earned on restricted funds as determined by the Finance Director. b) The amount of the refund due to any party shall be based on the proportion of that party’s payments under this Agreement based on its proportional share of Equivalent Dwelling Units constructed or to be constructed by that party, weighted as described in Exhibit A, divided by the total number of EDUs constructed or to be constructed within, and participating in, CFD No. 2 and/or CFD No. 2 agreements to prepay taxes. The amount of the refund shall be determined by multiplying the proportional share computed above by the total amount of excess revenues. c) In order to share in the refund of any portion of the excess Revenues, the eligible party must request to be included in the distribution of funds. Such request must be made within 90 days after the City Council’s acceptance of the Notice of Completion for the final phase of the tmprovements. Each request must be accompanied by documents indicating clear title to the refund unless the request is being made by the party who originally paid the taxes to the City under a prepayment Agreement or to CFD No. 2. d) The Finance Director shall compute the amount of the refund due each party as described above. Funds may be disbursed to the eligible parties following Council approval of such refunds. e) If the City does not receive requests for refund from all eligible parties within the specified period, and all funds ‘cannot be disbursed as provided by this section, any remaining funds shall be held in a special fund to be used to support road and roadway maintenance in and around the Improvements area, as determined to be necessary by the City Engineer, and approved by the City Council. f) As a courtesy to all interested parties, the City will maintain a file of those individuals or companies entitled to a refund, and will mail notices of refund availability to the names and addresses in this file following the City Council's acceptance of the final Notice of Completion. It is the eligible party's responsibility to notify the City if the right to any refunds under this section is assigned to another party, or if there is a change in name or address for the eligible party. The City takes no responsibility for the accuracy of the information included in this file, and is under no obligation to locate persons or entities that are entitled to refunds. Failure to notify any party of the availability of excess Revenues shall not obligate the City in any way to extend or modify the above refund procedures. 11. Compliance with this Agreement will be accepted by City as an alternate to the method described in the current Local Facilities Management Plan for local facilities Management fone 11 for financing the Improvements described in Paragraph 1. This Agreement does not require City to issue building permits or other development permits or grant approvals or relieve Property Owner of the obligation to comply with all applicable provisions of law, including but not limited to Carlsbad Municipal Code Titles 18, 19, 20, and 21. 12. Compliance with the provisions of this Agreement is a condition of all future discretionary approval for'the Improvements. If Property Owner does not comply with the provisions of this Agreement, approval of the Project will not be consistent with the General Plan, the Growth Management Program, and the Local Facilities Management Plan, and all subsequent discretionary approvals and permits for the Project may be withheld by City. 13. In addition, the City will not approve any pending final maps, issue grading, building, or other development permits or take any discretionary action until the Property Owner has complied with the terms of this Agreement due to be satisfied at the time such approval is required. 14. The City may, at its discretion, elect to pursue any remedy, legal or equitable, against Property Owner and Property Owner's successors, heirs, assigns, and transferees of the Project to secure compliance with this Agreement. 7 15. City shall not, nor shall any officer or employee of City, be liable or responsible for any loss or damage incurred by Property Owner or any successor or assign of Property Owner, or by any occupant in Property Owner's buildings, as a result of the exercise of any remedies provided to City in this Agreement. Property Owner agrees to indemnify City for any liabilities incurred by City as a result of City's exercise of these remedies. 16. 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 with respect to the Project only and City, and shali run with the Project and create an equitable servitude upon the Project. 17. All notices provided for under this Agreement shall be in writing and shall be delivered in person or served by certified mail, postage prepaid. Delivery of notice to Property Owner shall be presumed to have been made on the date of maiting regardless of receipt by Property Owner. Notices required to be given to Property Owner shall be addressed as follows: Notices to the City shall be delivered to: Finance Director City of Carfsbad 1635 Faraday Avenue Carlsbad. CA 92008 Each party shall notify the other immediately of any change that would require any notice delivered hereunder to be directed to another party. 18. This Agreement shall be recorded but shall not create a lien or security interest in the property. 8 19. The undersigned Property Owner further states, under penalty of perjury, that he is owner of the property as described herein on Exhibit "B," or an authorized agent of the owner, and has the authority to execute this document, including the binding authorizations herein. th Executed this 20 day of Feb~uo,~ 2003. Larry L. LJh'&'\nq ATTEST, (print name) AuShov'tted P.qen+ (title and organization of signatory) (sign here) c (print name here) SecreSaYy (title and organizdon of signatory) Approved as to form: n City Attorney 7/,5[ 9 STATE OF UTAH ) COUNTY OF SALT LAKE 1 ) ss. O\n,this m?ay of ffhruaull , p-3personally appeared before me, Lam L- h! h+ m , personally known' to be the Authorized Agent of CORPbRAnON O$ THE PRESIDING BISHOP OF THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS, a Utah corporation sole, who acknowledged before me that he signed the foregoing instrument as Authorized Agent for the Corporation of the Presiding Bishop of The Church of Jesus Christ of Latter-day Saints, a Utah corporation sole, and that the seal impressed on the within instrument is the seal of said Corporation; and that said instrument is the free and voluntary act of said Corporation, for the uses and purposes -therein mentioned, and on oath stated that he was authorized to execute said instrument on behalf of said Corporation and that said Corporation executed the same. WITNESS my hand and official seal. CERTIFICATE OF AUTHORITY I, H. DAVID BURTON, do hereby certify that I am the Presiding Bishop of The Church of Jesus Christ of Latter-day Saints, a religious association, and by virtue of such office I am the incumbent of the Corporation of the Presiding Bishop of The Church of Jesus Christ of Latter-day Saints, a Utah corporation sole, organized under the laws of the State of Utah; that I am the person designated in the Articles of Incorporation of said corporation sole to sign and execute deeds and other instruments of writing and to transact all business of said corporation sole, pursuant to the provisions of Title1 6, Chapter 7, Section 8 of the Utah Code Annotated, 1953, as amended; and that pursuant to said Section 16-7-8, I hereby designate and appoint LARRY L. WHITING as an agent authorized and empowered, in transactions whose dollar value does not exceed $5,000,000, to execute agreements, contracts, permit applications, petitions, complaints, protests and other documents pertaining to the construction, maintenance, repair, alteration or demolition of meetinghouse facilities in the North America West Area of The Church of Jesus Christ of Latter-day Saints. This Certificate of Authority supersedes and replaces that Certificate of Authority, dated August 23,2001, granted to Larry L. Whiting by H. David Burton, the incumbent of said Corporation of the Presiding Bishop of The Church of Jesus Christ of Latter-day Saints. Dated this d’f day of September, 2001. CORPORATION OF THE PRESIDING BISHOP OFTHE SAINTS, a Utah corporation sole CHURCH OF JESUS CHRIST OF LATTER-DAY STATE OF UTAH 1 COUNTY OF SALT LAKE ) : ss On this O? 8 day of September, 2001, personally appeared before me H. DAVID BURTON, personally known to me to be the Presiding Bishop of The Church of Jesus Christ of Latter-day Saints, who duly acknowledged to me that he signed the foregoing instrument as incumbent of the Corporation of the Presiding Bishop of The Church of Jesus Christ of Latter-day Saints, and the said H. DAVID BURTON acknowledged to me that said corporation executed the same. -. NOTARY PUBLIC JULIA C. BAKER 50 E. SOUTH TEMPLE 16th FLOOR SALT LAKE CITY, UT 84150 MY COMMISSION EXPIRES JANUARY E. 2005 STATE OF IITAH e. and for said County and State 4 EXHIBIT A RATE AND METHOD FOR DETERMINING FAIR SHARE OBLIGATION RANCHO SANTA FE AND OLIVENHAIN ROADS The City Council shall use the following rate and method for determining the fair share obligation for funding the construction of Rancho Santa Fe and Olivenhain Roads due from property conditioned to participate in the financing of these facilities. This calculation is done as part of an Agreement titled PETITION, WAIVER AND CONSENT TO CREATION OF A COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE (Agreement) which has been voluntarily entered into by the City of Carlsbad and certain property owners wishing to proceed with development of their property in advance of the creation of Community Facilities District No. 2 (CFD No. 2). It is the City and property owner's intent to form CFD No. 2 to provide funding for those improvements described within the Agreement. The following rate and method shall be used to determine the fair share and amount due from any property owners wishing to take advantage of this alternate funding mechanism. Basis for Cost Allocation The basis for allocation of costs to property conditioned with the financing of the improvements described in the Agreement shall be the Equivalent Dwelling Unit (EDU) which is defined per product classification as follows: Product Classification Single Family - Detached Units Single Family - Attached Units Multi-Family Units Churches Commercial/lndustriaI and other 10 Equivalent Dwellinq Units 1.0 EDU 0.8 EDU 0.6 EDU 4.0 EDU per Acre 10.0 EDU per Acre The number of each type of unit included in a development shall be determined by the City Engineer based on the most recent final map submitted to the City for approval. The EDU determination for non-residential development shall be made by the City Engineer when such a determination is requested by the property owner. The City Engineer may request additional information from any property owner as may be necessary to make his determination. The City Engineer is not required to make a determination on the number of EDUs for any project until adequate information is available. The City Engineer's determination shalf be submitted to the Ctty Council in the table below. The City Councii shall make the final determination of the number of EDUs to be used in computing the fair share obligation for any project. Fair Share Amount and Method of Pavment The City shall collect $10,250 for each EDU as determined by the City Council. This amount shall be collected in one payment of $10,250 per EDU to be paid prior to Council consideration of final map approval as described below. 1 ) Prior to the approval of a final map by the City Council, the property owners shall pay to the City an amount equal to the number of EDUs included in said final map, as determined by the City Engineer, times $10,250. If the City Council determined that the City Engineer's calculation of the number of EDUs included on the final map is in error, the Council shall direct the City Engineer to amend his calculations and direct staff to bring the final map back for approval when such correction has taken place. Funds must be paid to the City before the final map will be scheduled for Council consideration. 11 Computation of Fair Share Obligation The Church of Latter Day Saints (CUP 01-04) Type of Unit Acres Covered Cost per EDU per acre by EDU Agreement Amount Due Church $236,980 5.78 $10,250 4.0 If the property owner has already obtained a final map for property conditioned with the financing of Rancho Santa Fe and Olivenhain Road, the property owner shall pay to the City the net amount due shown above prior to entering into this agreement. 12 EXHIBIT B PROPERTY DESCRIPTION THAT PORTION OF PARCEL 4 OF PARCEL MAP 13524, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, OCTOBER 28,1984 AS FILE NO. 84-403293 OF OFFICIAL RECORDS INCLUDING A PORTION OF MISSION ESTANCIA DEDICATED ON SAID PARCEL MAP, DESCRtBED AS A WHOLE AS FOLLOWS: BEGINNING AT THE MOST WESTERLY CORNER OF SAID PARCEL 4; THENCE ALONG THE SOUTHWESTERLY BOUNDARY THEREOF SOUTH 42O 29' 57" EAST 76.71 FEET TO THE MOST WESTERLY CORNER OF THE LAND DESCRIBED IN DEED TO THE CITY OF CARLSBAD RECORDED NOVEMBER 1,1985 AS DOCUMENT NO. 8541 141 7 OF OFFICIAL RECORDS; THENCE ALONG THE NORTHEASTERLY LINE OF SAID LAND SOUTH 64' 37' 04" EAST 464.92 FEET TO A POINT IN THE ARC OF A 958 FOOT RADIUS CURVE CONCAVE WESTERLY IN THE WESTERLY LINE OF SAID MISSION ESTANCIA; THENCE ALONG A RADIAL LINE OF SAID CURVE SOUTW 71 O 41' 37" EAST 42.00 FEET TO A PORTION IN THE ARC OF A 1000.60F00T RADIUS CURVE IN THE CENTERLINE OF SAID MISSION ESTANCIA; THENCE ALONG SAID CENTERLINE NORTHERLY ALONG SAID CURVE THROUGH AN ANGLE OF 3O 18' 23" A DISTANCE OF 57.71 FEET; THENCE TANGENT TO SAlQ CURVE NORTH 15 O 00' EAST 400.00 FEET TO A TANGENT 900 FOOT RADIUS CURVE CONCAVE WESTERLY; THENCE NORTHERLY ALONG SAID CURVE THROUGH AN ANOLE OF 32O 18' 00" A DISTANCE OF 507.37 FEET TO THE MOST NORTHERLY CORN€R OF SAID PARCEL 4; MENCE ALONG THE NORTHERLY AND NORTHWESTERLY BOUNDARY OF SAID PARCEL 4 AS FOLLOWS: SOUTH 72O 42' 00" WEST 77.00 FEET; SOUTH 40° 33' 22" WEST 166.07 FEET; SOUTH 61 58' 30" WEST 99.97 FEET; SOUTH 34O 56' 26" WEST 440.09 FEET; SOUTH 42a 88' 12" WEST 135.95 FEET; AND SOUTH 23O 21' 26" WEST 18.41 FEETTO THE,POlNT OF BEGINNING. EXCEPTING THEREFROM ALL WATER, WATER RIGHTS, OIL, OIL RIGHTS, MINERALS, MINERAL RIGHTS, NATURAL GAS, NATURAL GAS RIGHTS, AND OTNER HYDROCARBONS BY WHATSOEVER NAME KNOWN, GEOTHERMAL STEAM, AND ALL PRODUCTS DERIVED FROM ANY OF THE FOREGOING, THAT MAY BE WITHIN OR UNDER THE PARCEL OF LAND DESCRIBED ON THIS EXHIBJT, TOGETHER WITH THE PERPETUAL RIGHT OF DRILLING, MINING, EXPlORENG AND OPERATING THEREFOR AND STORING IN AND REMOVING THE SAME FROM SAID LAND .QR ANY OTHER LAND, INCLUDING THE RIGHT TO WHIPSTOCK OR DIRECTIONALLY DRILL AAND MINEFROM LANDS OTHER THAN THOSE HEREINABOVE DESCRIBED, WATER, OIL OR GAS WELLS, TUNNELS AND SHAFTS INTO, THROUGH, OR ACROSS THE SUBSURFACE OF THE LAND HEREINABOVE DESCRIBED, AND TO BOlTOM SUCH WHIPSTOCKED OR DIRECTIONALLY DRILLED WELLS, TUNNELS, AND SHAFTS UNDER AND BENEATH OR BEYOND THE EXTERIOR LIMITS THEREOF, AND TO REDRILL, RETUNNEL, EQUIP, MAINTAIN REPAIR, DEEPEN, AND. OPERATE ANY SUCH WELLS OR MINES, WITHOUT, HOWEVER, THE RIGHT TO ENTER UPON, DRILL, MINE, STORE, EXPLORE, AND OPERATE ON OR THROUGH THE SURFACE ORTHE OR THE FIVE HUNDRED (500) FEET OF THE SUBSURFACE OF THE LAND HEREINABOVE DESCRIBED. Assessor's Parcel No: 223-060-50 EXHIBIT 3 " SITE CHURCH OF JESUS CHRIST LDS CUP 01-04