Loading...
HomeMy WebLinkAboutCT 98-15; Rancho Carrillo Village B Phase II; Tentative Map (CT) (44)DOC * 2000-003010! RBCORDING REQUESTED BY n.. fn ,, ,City of Carlsbad WHEN RECORDED MAIL TO: City of Carlsbad City Clerk's Office Attn: City Clerk 1 200 Carlsbad Village Drive Carlsbad. California 92008 ftN 2OOO 1O:4<9 SAN DIEGO COUNTY RECORDER'S OFFICEj_ g^ GOUNTy RECORDER FEES: 70.00 2000-0030108 (ABO VE SPA CE FOR RECORDER 'S USE) SECOND AMENDED AND RESTATED AFFORDABLE HOUSING AGREEMENT IMPOSING RESTRICTIONS ON REAL PROPERTY This SECOND AMENDED AND RESTATED AFFORDABLE HOUSING AGREEMENT r/>IMPOSING RESTRICTIONS ON REAL PROPERTY ("Agreement"), entered into this > day of TTo\V 1999, by and between the CITY OF CARLSBAD, a municipal corporation ("City"), and CONTINENTAL RANCH INC., a Delaware corporation ("Developer"), is made with reference to the following: A. Developer is the owner of certain real property in the City of Carlsbad, in the County of San Diego, California ("Subject Property") described in "Attachment A", which is attached hereto and incorporated herein by this reference. B. City and Developer have previously entered into that certain Affordable Housing Agreement Imposing Restrictions on Real Property dated March 23, 1998 ("Original Agreement"), which was recorded on March 25, 1998, in the Official Records of San Diego County as Document No. 1998- 0162920. City and Developer have previously entered into that certain First Amended and Restated Affordable Housing Agreement Imposing Restrictions on Real Property dated Db&inW 1? 199J. , which was recorded onDetemoef Z.1 . 199^, in the Official Records of San Diego County as Document No. 1993 - flfcZffiffi "First Amendment "). City and Developer want to amend and restate the Original Agreement and First Amendment by this Agreement to provide for the orderly and efficient development of the Subject Property in compliance with the City's Inclusionary Housing Ordinance. C. Developer wishes to construct a total of 1, 71 1 residential units on the property which is the subject of the land use approvals and entitlements described in the following sentence for the "Master Development" of the Subject Property). The City has approved the Rancho Carrillo Master Plan ("Master Plan"); Carlsbad Tract Map Numbers CT 93-01, CT 93-04, CT 93-07, CT 93-08 and CT 95-06; Planned Unit Development Numbers PUD 93-06, PUD 93-07, PUD 95-04 and PUD 95-05; and, Site Development Plan Numbers SDP 94-01, SDP 95-12 SDP 95-13, and 5) frlTthe "Master Development" of the Subject Property. The City issued these approvals subject to certain Conditions of Approval, including a condition requiring fifteen percent (15%) of the units in the Master Development to be affordable housing as required by the City's Inclusionary Housing Ordinance, Carlsbad Municipal Code Chapter 21.85 ("CMC Chapter 21.85"). In that regard, this Agreement, as supplemented and amended from time to time, is intended to implement the requirements imposed by CMC Chapter 21.85 for these approvals and all future City approvals of tentative maps, planned development permits and site development plans pursuant to the Master Plan. Rancho Carrillo Amendment #2 07/08/99 2320 D. Developer has indicated that it intends to meet its inclusionary housing requirement (i) for Phase 1 of the Master Development by constructing, or causing to be constructed, 1 16 units within a portion of Village B of the Master Plan and (ii) for Phase 1 of a portion of the balance of the Master Development by constructing, or causing to be constructed, 50 secondary dwelling units dispersed throughout the Master Development and (iii) for Phase 2 of the Master Development by constructing, or causing to be constructed, 90 affordable townhomes within a portion of Village B of the Master Plan. E. Developer is required by the Conditions of Approval to enter into an Affordable Housing Agreement as required and with the content specified by CMC Chapter 21.85. This Agreement is an Affordable Housing Agreement pursuant to CMC Section21.85.020(2), and shall be signed prior to the approval of additional Final Maps for the Subject Property. The Original Agreement permitted the approval of Final Maps for 775 dwelling units for the Master Development, which included 116 affordable housing rental units. The First Amendment permitted the approval of Final Maps for up to 1,158 dwelling units for the Master Development, which includes a total of 166 affordable housing rental units. This Second Amendment shall permit the approval of Final Maps for the Subject Property, for up to 1,711 total dwelling units in the Master Development, including a total of 166 affordable rental housing units and 90 affordable for-sale housing units. NOW, THEREFORE, it is mutually agreed by and between the undersigned parties as follows: 1. Incorporation of Recitals; Amendment and Restatement of Original Agreement and the First Amendment. The Recitals are hereby incorporated in this Agreement. The Original Agreement and the First Amendment are hereby superseded and amended and restated in their entirety by this Agreement. 2. Satisfaction of Affordable Housing Obligation and Conditions of Approval. In order to satisfy the Conditions of Approval of CT 93-01, CT 93-04, CT 93-07, CT 93-08, CT 95-06 and future tentative maps approved by the City within the Master Plan, and the requirements of CMC Chapter 21.85, Developer shall cause a minimum of one hundred sixteen (116) multifamily dwelling units and a maximum of fifty (50) secondary dwelling units of Phase 1 of the Master Development to be affordable to lower-income households and shall cause 90 for-sale affordable town home units of Phase 2 of the Master Development (the "Affordable For-Sale Housing Units") to be affordable to lower-income households, according to the schedule and terms contained herein. 3. Number and Type of Affordable Units. Developer shall construct, or cause to be constructed, one hundred sixteen (116) multifamily dwelling units ("Affordable Multifamily Units"), a maximum of fifty (50) secondary dwelling units ("Affordable Second Dwelling Units"),,, and 90 affordable for-sale town home units ("Affordable For-Sale Housing Units"). 4. Terms Governing Provision of Affordable Multifamilv Units. Provision of the Affordable Multifamily Units shall be governed by the following terms: 4.1 Location of Affordable Units. The Phase 1 Affordable Multifamily Units shall consist of one hundred sixteen (116) units to be constructed within Village B of the Master Development. The Affordable Second Dwelling Units shall be constructed within Villages G, H,J, K, M, Q and R of the Master Development. The Phase 2 Affordable For-Sale Housing Units shall consist of ninety (90) town home units to be constructed within Village B of the Master Development. 4.2 Size and Bedroom Count. The Phase 1 Affordable Multifamily Units shall include one. two and three bedroom units in the numbers and with the square footages indicated in Rancho Carnllo Amendment #2 2 07/08/99 2821 "Attachment B" to this Agreement. The Affordable Second Dwelling Units shall include studios and one bedrooms in the numbers and with the square footages indicated in Attachment "B" to this Agreement. The Phase 2 Affordable For-Sale Housing Units shall include two and three bedroom units in the numbers and with the square footages indicated in Attachment "B" to this Agreement. 4.3 Affordabilitv Requirements. The Phase 1 Affordable Multifamily Units shall be restricted to occupancy by households with incomes, at the time of initial occupancy, that do not exceed 50%, 60%, or 80% of the median income for San Diego County, adjusted for actual household size. Twenty percent (20%) of the Phase 1 Affordable Multifamily Units shall be affordable to households with incomes, at the time of initial occupancy, that do not exceed 50% of the median income for San Diego County, adjusted for actual household size; forty percent (40%) of the Phase 1 Affordable Multifamily Units shall be affordable to households with incomes not exceeding 60% of the median income; and forty percent (40%) of the Phase 1 Affordable Multifamily Units shall be affordable to households with incomes not exceeding 80% of the median income. Monthly rents (including utility allowance as published by the United States Department of Housing and Urban Development) of the Affordable Multifamily Units shall not exceed l/12ih of 30% of the designated percentage of median income for San Diego County, adjusted for assumed household size appropriate for the unit. Second Dwelling Units are not required to be rented. However, if rented, the monthly rents (including utility allowance as published by the United States Department of Housing and Urban Development) for the Affordable Second Dwelling Units shall not exceed 1/12th of 30% of 80% of the median income for San Diego County, adjusted for assumed household size appropriate for the unit. Median income figures shall be those published annually by the United States Department of Housing and Urban Development. Assumed household size figures shall be provided to Developer by the City of Carlsbad Housing and Redevelopment Department. With respect to each Affordable Multifamily Unit and Affordable Second Dwelling Unit, the affordability requirements of this Section 4.3 shall continue for fifty-five (55) years from the date of issuance of a Certificate of Occupancy by the City for such unit. The affordability requirements of this Section 4.3 shall be set forth in the Regulatory Agreement between the Developer or its successor and the City, provided for in Section 4.8.4 below, which shall supersede this Agreement with respect to the Phase 1 Affordable Multifamily Units upon recordation of the Regulatory Agreement. The Phase 2 Affordable For-Sale Housing Units shall be restricted to occupancy by households with incomes, at the time of purchase, that do not exceed 80% of the median income for San Diego County, adjusted for actual household size. 4.4 Affordable Housing Developer. Developer has contracted with an affordable housing developer to develop and construct the Phase 1 portion of the Affordable Multifamily Units to be constructed in Village B. Developer has obtained City approval of the developer and development agreement for the units ("Affordable Housing Development Agreement"). The Affordable Housing Development Agreement describes with particularity the financial arrangements for the construction of the Affordable Multifamily Units, the restrictions applicable to the Affordable Multifamily Units and the record keeping obligations for the management of the units. Developer or guest builders shall construct the Affordable Second Dwelling Units. Property owner must sign affidavits of compliance prior to the issuance of the required Second Dwelling Unit Administrative Permits. The affidavits shall be provided to all perspective home buyers prior to entering into a sales contract for the property. Developer has indicated that it will construct and sell the Affordable For-Sale Housing Units. Should the Developer choose to contract with an affordable housing developer to develop and construct the Phase 2 portion ot the Affordable For-Sale Housing Units to be constructed in Village's, Developer shall obtain prior City approval of the developer and proposed development agreement for the units ("Affordable Housing Development Agreement"). Rancho Camllo Amendment #2 3 07/08/99 9 4.5 Schedule for Developing Affordable Multifamily Units. Developer shall provide the Affordable Second Dwelling Units concurrently with the related single family home construction. The Affordable Multifamily Units shall be developed pursuant to the following schedule: 4.5.1 Additional Final Maps for the Master Development may be approved because the following are in place: 4.5.1 . 1 The Original Agreement was duly signed and recorded against the Subject Property on March 25, 1998, in the Official Records of San Diego County as Document No. 1998-0162920. 4.5.1.2 Site Development Plan 9#- -* approved for the 1 Multifamily Units. 4.5.1.3 Site Development Plan 98-12 was approved for the Phase 1 Affordable Second Dwelling Units. 4.5.2 After the First Amendment was duly signed and recorded against the Subject Property on Par*. 2-\ *at 199.3., in the Official Records of San Diego County as Document No. 199?- 08>2-^(W 3 Developer was entitled to obtain up to 400, or 40% of the total market rate units included in Phase I of the Subject Property prior to the Phase 1 Affordable Multifamily Units (116 total) in Village B being under construction. For purposes of the Original Agreement and the First Amendment, under construction" means approval and issuance of the building permits and completion of inspection(s) for the foundation(s) for the initial phase of the Phase 1 Affordable Multifamily Units. The 400, or 40% of the total building permits for market rate units included in Phase 1 of the Master Development may be allocated among the villages in Phase 1 of the Master Development in any combination as Developer determines in its sole discretion. The total number of building permits which may be issued for market rate units may be increased by seven (7) permits for each additional one (1) Affordable Second Dwelling Unit Administrative Permit approved and issued by the City of Carlsbad. The Developer shall at the time a residential structure is constructed on the Affordable Housing Lot identified for the second dwelling unit, include in such residential structure the required Affordable Second Dwelling Unit. 4.5.3 Building permits shall not be issued for more than 754, or 76%, of the total market rate units included in Phase 1 of the Master Development prior to completion of the construction of the Phase 1 Affordable Multifamily Units in Village B (116 units total). After final inspection is completed by the Building Department and a final Certificate of Occupancy is issued, for the Phase 1 Affordable Multifamily Units (116 total), building permits may be obtained for the remaining 238 market rate units in Phase 1 of the Master Development, fora total of 1,1 5 8. dwelling units in the Master Development (992 market rate units +166 Affordable Multifamily Units and Affordable Second Dwelling Units. The total number of building permits which may be issued for market rate units may be increased by seven (7) permits for each additional one ( 1 ) Affordable Second Dwelling Unit Administrative Permit approved and issued by the City of Carlsbad. The Developer shall at the time a residential structure is constructed on the Affordable Housing Lot identified for the second dwelling unit, included in such residential structure the required Affordable Second Dwelling Unit. Rancho Camllo Amendment #2 4 07,08/99 2823 4.5.4 The Original Agreement permitted the approval of a final map or maps for 775 dwelling units. Because Site Development Plan 98-12 was approved for the Affordable Second Dwelling Units and the First Amendment was duly signed and recorded against the Subject Property on Cbcg^bef 7-i 199_^f, in the Official Records of San Diego County as Document No. \99^-Cf(iH OH7. final map or maps may be approved for 1,158 dwelling units (992 market rate units + 166 Affordable Units, including a maximum of 50 Affordable Second Dwelling Units). 4.6 Schedule for Developing Affordable For-Sale Housing Units. Developer shall provide the Affordable For-Sale Housing Units concurrently with the related market rate construction. The Affordable For-Sale Housing Units shall be developed pursuant to the following schedule: 4.6.1 Prior to the approval of any additional Final Maps for the Master Development, beyond those already permitted under Section 4.5 above, the following shall be in place: 4.6.1.1This Agreement shall be duly signed and recorded against the Subject Property. 4.6.1.2Site Development Plan 98- \~] shall be approved for the Phase 2 Affordable For-Sale Housing Units. 4.6.1.3The phasing of construction shall be as shown in Attachment "C" and as described in Section 4.6.2 below. 4.6.2 After this Agreement is duly signed and recorded against the Subject Property, building permits may be issued for up to an additional 158, or 34%, of the total additional 463 market rate units included in Phase 2 of the Master Development prior to the Phase 2 Affordable For-Sale Housing Units being under construction. For purposes of this Agreement, "under construction" means approval and issuance of the building permits and completion of inspection(s) for the foundation(s) for the initial phase of the Phase 2 Affordable For-Sale Housing Units. The 158, or 34%, of the total additional 463 building permits for market rate units included in Phase 2 of the Master Development may be allocated among the villages in the Master Development in any combination as Developer determines in its sole discretion. The total number of building permits which may be issued for market rate units may be increased by seven (7) permits for each additional one (1) Affordable Second Dwelling Unit Administrative Permit approved and issued by the City of Carlsbad. The Developer shall at the time a residential structure is constructed on the Affordable Housing Lot identified for the second dwelling unit, include in such residential structure the required Second Dwelling Unit. 4.6.3 Building permits shall not be issued for more than 352 , or 76%, of the total additional 463 market rate units included in Phase 2 of the Master Development prior to completion of the construction of the Phase 2 Affordable For-Sale Housing Units and approval and issuance of administrative permits for a minimum of 19 Affordable Second Dwelling Units in Phase 1. After final inspection is completed by the Building Department and a final Certificate of Occupancy is issued, for the Phase 2 Affordable For-Sale Housing Units (90 total), building permits may be obtained for the remaining 111 market rate units in Phase 2 of the Master Development, for a total of 1,711 dwelling units in the Master Development (1455 market rate units + 256 Affordable Rancho Carrillo Amendment #2 5 07/08/99 2824 Multifamily Units, Affordable Tor-Sale Housing Units and Affordable Second Dwelling Units). 4.6.4 The total number of building permits which may be issued for market rate units may be increased by seven (7) permits for each additional one (1) Affordable Second Dwelling Unit Administrative Permit approved and issued by the City of Carlsbad. The Developer shall at the time a residential structure is constructed on the Affordable Housing Lot identified for the second dwelling unit, include in such residential structure the required Affordable Second Dwelling Unit. 4.6.5 The First Amendment permitted the approval of a final map or maps for 1,158 dwelling units (992 market rate units plus 166 affordable units, including a maximum of 50 second dwelling units). After Site Development Plan 98- is approved for the Affordable For-Sale Housing Units and this Agreement is duly signed and recorded against the Subject Property, a final map or maps may be approved for 1,711 dwelling units (1455 market rate units, 116 Affordable Multifamily Units, 90 Affordable For-Sale Housing Units and a maximum of 50 Affordable Second Dwelling Units). 4.6.6 The Affordable For-Sale Housing Units shall be constructed in the normal course of development with the market rate single-family units included within Phase 2 of the Master Development. The Affordable For-Sale Housing Units shall be constructed according to the schedule for constructing the market rate single-family units; provided, however, the construction of the Affordable For-Sale Housing Units shall be reasonably proportionate to the construction of the market rate single- family units. 4.7 Compliance Report. Following completion of construction of the Phase 1 Affordable Multifamily Units, a Compliance Report rrteeting the requirements of CMC Section 21.85.180, verifying compliance of the completed Phase 1 Affordable Multifamily Units with the terms of this Agreement and certified as correct by a third-party, shall be submitted annually to the Housing and Redevelopment Director. If similar reports on the Phase 1 Affordable Multifamily Units are required for regulatory compliance with other financing programs, those reports may be deemed satisfactory for the purpose of this section by the Housing and Redevelopment Director, with respect to the Phase 1 Affordable Multifamily Units covered by such reports, provided that copies of those reports are provided on an annual basis to the Housing and Redevelopment Director with a third party certification addressed to the City. 4.8 City Approval of Documents. The following documents, in form and substance acceptable to the City, shall be used in connection with the sale of the Phase 2 Affordable For-Sale Housing Units. Such documents shall be prepared by the Developer or its successor and shall be submitted to the Housing and Redevelopment Director for review and approval no later than the commencement of construction of the Phase 2 Affordable For-Sale Housing Units: 4.8.1 A marketing plan establishing the process for seeking, selecting and determining the eligibility of persons purchasing the Phase 2 Affordable For-Sale Housing Units. 4.8.2 A form of Note 4.8.3 A form of Deed of Trust. 5. Terms Regarding Provision of Affordable Second Dwelling Units. Provision of the Affordable Second Dwelling Units shall be governed by the following terms: Rancho Carrillo Amendment #2 6 07/08/99 9Q per^ O c O 5.1 Location of Units. The Affordable Second Dwelling Units shall be located in the villages of the Master Plan ]as approved in Site Development Plan 98-12. The lots identified as including an Affordable Second Dwelling Unit shall be required to have an approved Administrative Permit in compliance with the requirements of Carlsbad Municipal Code Section 21.10.015, unless otherwise approved by the Community Development Director, prior to construction on the lot. 5.1.1 Subject to the approval of the Planning Director, up to fifty percent (50%) of the Affordable Second Dwelling Units in later phases (Villages G, K, M, Q-2, Q-4 and R) of the Master Development may be relocated within the same village at the time of approval of the Affordable Second Dwelling Unit Administrative Permit, subject to compliance with all requirements of Carlsbad Municipal Code Section 21.10.015 and the Housing Commission's Guidelines for Development of Second Units. Affordable Second Dwelling Units must be dispersed throughout the villages similarly to the dispersal shown on Exhibit "A" of Site Development Plan 98-12. 5.1.2 If the City determines that the proposed revisions to the locations of Affordable Second Dwelling Units necessitates an amendment to this Agreement, then the proposed amendment, and any necessary modifications to exhibits to reflect the amendment, shall be administratively approved by the Community Development Director. An application for this type of revision only needs the signature of the owner of the particular phase of a village in which the revision will occur. Any proposed revision shall be in compliance with all requirements of Carlsbad Municipal Code Section 21.10.015 and the Housing Commission's Guidelines for Development of Second Units. 5.1.3 At the time of review of the Affordable Second Dwelling Unit Administrative Permit, the Planning Director shall determine that all proposed Affordable Second Dwelling Units in the Master Plan are in conformance with the requirements of CMC Section 21.10.015 and the Housing Commission's Guidelines for Development of Second Units. Affordable Second Dwelling Units developed in Villages G, K, M, Q-2, Q-4 and R shall be compatible in design and appearance with the proto- typical units approved by Site Development Plan 98-12. 5.2 Affordability of Second Dwelling Units. Affordable Second Dwelling Units shall be provided in accordance with the requirements of Carlsbad Municipal Code Section 21.10.015. Affordable Second Dwelling Units may be, but are not required to be, rented. If an Affordable Second Dwelling Unit is rented, the monthly rent (including utility allowance) shall not exceed 1/12th of 30% of 80% of median income in San Diego County, adjusted for assumed household size appropriate for the unit, as required pursuant to CMC Section 21.10.015(P). Median income figures shall be those published annually by the United States Department of Housing and Urban Development. Assumed household size figures shall be provided to Developer bythe City Department of Housing and Community Development. The affordability requirements of this Section 5.2 shall continue for 55 years from the date of completion of original construction of each Unit 5.3 Schedule of Development of Second Dwelling Units. The Affordable Second Dwelling Units shall be constructed in the normal course of development with the -market rate single- family units included within the Master Development. The Affordable Second Dwelling Units shall be constructed according to the schedule for constructing the market rate single-family units; provided, however, the construction of the Affordable Second Dwelling Units shall be reasonably proportionate to the construction of the market rate single-family units. Rancho Camllo Amendment #2 7 07/08/99 282G 6. Release of Subject Property From Agreement. The covenants and conditions herein contained shall apply to and bind the heirs, executors, administrators, successors, transferees and assignees of all the parties having or acquiring any right, title or interest in or to any part of the Subject Property, and shall run with and burden the Subject Property until terminated in accordance with the provisions hereof. Prior to the issuance of building permits, Developer shall expressly make the conditions and covenants contained in this Agreement a part of any deed or other instrument conveying any interest in the Subject Property. Notwithstanding anything to the contrary set forth in this Agreement, individual purchasers of single-family units pursuant to an approved public report in compliance with the California Subdivided Lands Act, and mortgage lenders holding deeds of trust on such individual units after sale to such purchasers, shall not be subject to the terms of this Agreement; and the terms of this Agreement shall be of no further force or effect with respect to such completed unit on the date of the recordation of a deed to the individual purchaser. Upon allocation by the Developer of the building permits for the first 400 market rate units among the villages in Phase 1 of the Master Development, in any combination as Developer determines in its sole discretion, then 400 market rate units shall be released from the burdens of this Agreement. Upon allocation by the Developer of the building permits for the 401st through 755th market rate units among the villages in Phase 1 of the Master Development, in any combination as Developer determines in its sole discretion, and after the Phase 1 Affordable Multifamily Units (116 total) in Village B are under construction, then the 401st through 755th market rate units shall be released from the burdens of this Agreement. After final inspection is complete, or a final Certificate of Occupancy is issued, for the Phase 1 Affordable Multifamily Units, then the remaining 238 market rate units in Phase 1 of the Master Development shall be released from the burdens of this Agreement. Upon allocation by the Developer of the building permits for the first 158 additional market rate units among the villages in Phase 2 of the Master Development, in any combination as Developer determines in its sole discretion, then 158 market rate units shall be released from the burdens of this Agreement. Upon allocation by the Developer of the building permits for the 159th through 352nd market rale units among the villages in Phase 2 of the Master Development, in any combination as Developer determines in its sole discretion, and after the Phase 2 Affordable For-Sale Housing Units (90total) in Village B are under construction, then the 159th through 352nd market rate units shall be released from the burdens of this Agreement. After final inspection is complete, or a final Certificate of Occupancy is issued for the Phase 2 Affordable For-Sale Housing Units, then the remaining 111 market rate units in Phase 2 of the Master Development shall be released from the burdens of this Agreement. Appropriate adjustments shall be made in the number of market rate units released from the burdens of this Agreement consistent with the increases in building permits pursuant to Subparagraph 4,5.3 above. 7. Default. Failure of Developer to cure any default in Developer's^ obligations under the terms of this Agreement within ninety (90) days after the delivery of a notice of default from the City (or where the default is of a nature which cannot be cured within such ninety (90) day period, the failure of Developer to commence to cure such default within the ninety (90) day period or Developer's failure to proceed diligently to complete the cure of such a default within a reasonable time period) will constitute a breach of this Agreement and the requirements of Carlsbad Municipal Code Chapter 21.85 and the City may exercise any and all remedies available to it with respect to Developer's failure to satisfy the Conditions of Approval and Chapter 21.85 of the Carlsbad Municipal Code, including, but not limited to, the withholding of building permits for the market rate units within the Master Plan. 8. Appointment of Other Agencies. At its sole discretion, the City may designate, appoint or contract with any other public agency, for-profit or non-profit organization to perform the City's obligations under this Agreement. 9. Hold Harmless. Developer will indemnify and hold harmless (without limit as to amount) City and its elected officials, officers, employees and agents in their official capacity Rancho Carrillo Amendment #2 8 07/08/99 2827 (hereinafter collectively referred to as "Indemmtees"). and any of them, from and against all loss, all risk of loss and all damage (including expense) sustained or incurred because of or by reason of any and all claims, demands, suits, actions, judgments and executions for damages of any and every kind and by whomever and whenever made or obtained, allegedly caused by, arising out of or relating in any manner to Developer's actions or defaults pursuant to this Agreement, and shall protect and defend Indemnitees, and any of them, with respect thereto. 10. Insurance Requirements. Developer (or its successor or successors) shall obtain, at its (or their) expense, comprehensive general liability insurance for development of the Affordable Units naming Indemnitees as additional named insureds with aggregate limits of not less than Five Million Dollars ($5,000,000) for bodily injury, and death and property damage, including coverage for contract liability and products and completed operations purchased by Developer (or its successor or successors) from an insurance company duly licensed to engage in the business of issuing such insurance in the State, with a current Best's Key Rating of not less than A-V, such insurance to be evidenced by an endorsement which so provides and delivered to the City Clerk prior to the issuance of any building permit for the Affordable Units. 11. Notices. All notices required pursuant to this Agreement shall be in writing and may be given by personal delivery or by registered or certified mail, return receipt requested, to the party to receive such notice at the addresses set forth below: CITY OF CARLSBAD Housing and Redevelopment Department Attn: Housing and Redevelopment Director 2965 Roosevelt Street, Suite B Carlsbad, California 92008-2389 CONTINENTAL RANCH, INC. Attn: Dave Lother 2237 Faraday Avenue, Suite 100 Carlsbad, California 92008 Any party may change its address to which notices are to be sent by notifying the other party of the new address, in the manner set forth above. 12. Integrated Agreement. This Agreement constitutes the entire agreement between the parties and no modification hereof shall be binding unless reduced to writing and signed by the parties hereto. 13. Duration of Agreement. This Agreement shall remain in effect for 55 years following the date certificates of occupancy have been issued for all Affordable Units. 14. Recording of Agreement. The parties hereto shall cause this Agreement to be recorded against the Subject Property in the Official Records of the County of San Diego. ************** Rancho Carrillo Amendment #2 9 07,08/99 2828 15. Severability. In the event any limitation, condition, restriction, covenant or provision contained in this Agreement is to be held invalid, void or unenforceable by any court of competent jurisdiction, the remaining portions of this Agreement shall nevertheless be and remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the day and year first above written. DEVELOPER: CONTINENTAL RANCH, INC., a Delaware corporation By: Its; Its: /I/IAP. 77 CITY: CITY OF CARLSBAD, a municipal corporation By: MARTIN ORENY/ Community Development Director Approved as to form: By:_ JIONALD R. BALL, Attorney Rancho Carrillo Amendment #2 10 07/08/99 2829 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT ]<j State of California 3 \ County of £>G2^-) Of<£2£vO !j <-* j On 3U (.t/y*^ |HH" before me, ^ f SS. f^ ienn^LuUv^t' ! 1 /J Date" Name aWTitle of Officer (eg., "Jane Doe. Notary Public") £ oersonallv aooeared I>IV fd A.^OftW" ancLftrc^rM/l HtfSkYI^. § i 1 J jrrjj, JENNY LUKOWSKI L /£L«SB^k Commission # 1218812 | 2&S<jgity Notary Public - California | i \§^37 San Diego County F i ^ N-§B6£/ MyComm.ExpiresMay9,2003p ! Place Notary Seal Above OP Nameis) of Signer(s) (_J j \J ' ft /^personally known to me B _ proved to me on the basis of satisfactory $ evidence '^ k to be the person/s) whose name^?J8/are ^ subscribed to the within instrument and | acknowledged to me that he/ohc/they executed R the same in hic/hof/their authorized h capacity(i^), and that by hic/hor/their ^ signature^fJPon the instrument the person(|), or ^ the entity upon behalf of which the personify 8 acted, executed the instrument. $ kWITNESS my hand and official seal. % // ( ) Signature of Notary Public ^ 8 TIS\ A I A 1 R Though the information below is not required by law, it may prove valuable to persons relying on the document h and could prevent fraudulent removal and reattachment of this form to another document. X hDescription of Attached Document x Title or Tvpe of Document: o Document Date: Sianer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Sianer's Name:... H Corporate Officer — Title(s): d Partner — C Limited G General ~ Attorney in Fact [I Trustee C Guardian or Conservator ~ Other: Sianer Is Representing: Number of Pages: ___ ft 1 K ^^^••T3HTei7Tar^^^H n Top of thumb here X Xi|t © 1997 National Notary Association • 9350 De Solo Ave.. P.O. Box 2402 • Chatsworth. CA 91313-2402 Prod. No. 5907 Reorder Call Toll-Free 1-800-876-6827 RICK ENGINEERING COMPANY ^•H^ California 92110-2596 (619)291-0707 Legal Description TC Ret. Co. Order No. Date J-12987 RANCHO CARRILLO, EXCLUDING PARK SITES, SCHOOL SITE, VILLAGES H, J, O, Q PHASE 1, AND PORTIONS OF VILLAGES "A-D" DeSCr' Rev. By _ By: RB/jb.005 Date: July 1, 1999 Page 1 of 7 A parcel of land being a portion of the Southerly one half of Section 18 and a portion of Section 19, Township 12 South, Range 3 West, San Bernardino Meridian and a portion of Fractional Section 13 and a portion of Fractional Section 24, Township 12 South, Range 4 West, San Bernardino Meridian, City of Carlsbad, County of San Diego, State of California described as follows: Beginning at a point on the Westerly boundary line of Record of Survey No. 9112 on file in the Office of the County Recorder of said County of San Diego, said point also being on the centerline of Palomar Airport Road and the beginning of a non-tangent 1200.00 foot radius curve concave Southwesterly, to which a radial line bears North 02°03'04" East; thence leaving said Westerly line and along said centerline Southeasterly along the arc of said curve through a central angle of 20°13'34" a distance of 423.61 feet; thence South 67°43'22" East 1328.80 feet to the beginning of a tangent 1000.00 foot radius curve concave Northeasterly; thence Southeasterly along the arc of said curve through a central angle of 03°09'32" a distance of 55.13 feet to the beginning of a non-tangent 2263.00 foot radius curve concave Northerly to which a radial line bears North 08°33'46" East; thence Easterly along the arc of said curve through a central angle of 16°17'25" a distance of 643.41 feet to the beginning of a non-tangent 1000.00 foot radius curve concave Northwesterly to which a radial line bears North 18°16'59" West; thence Northeasterly along the arc of said curve through a central angle of 03°09'32" a distance of 55.13 feet; thence North 68°33'29" East 1525.56 feet to the beginning of a tangent 6000.00 foot radius curve concave Southeasterly; thence Northeasterly along the arc of said curve through a central angle of 05°39'05" a distance of 591.81 feet; thence North 74°12'34" East 454.40 feet to the beginning of a tangent 3000.00 foot radius curve concave Southeasterly; thence Northeasterly along the arc of said curve through a central angle of RE 103 4/89 m RICK ENGINEERING COMPANY California 92110-2596 (619)291-0707 2832 Legal Description J-12987 Order No. RANCHO CARRILLO, EXCLUDING PARK SITES, TC Ref. Co. Data SCHOOL SITE, VILLAGES H, J, 0, Q PHASE 1, AND PORTIONS OF VILLAGES "A-D" Descr Rev. By _ By: RB/jb.005 Date: July 1, 1999 Page 2 of 7 00°52'58" a distance of 46.22 feet to a point on the Easterly boundary line of said Record of Survey No. 9112; thence leaving said centerline and Southerly, Westerly and Northerly along the boundary lines of said Record of Survey the following courses: South 00°39'50" West 2492.24 feet; thence South 00°08'23" West 2669.98 feet; thence South 00°07'39" West 1335.81 feet; thence North 89°45'39" West 1314.12 feet; thence North 89°48'08" West 1248.20 feet; thence North 89°46'41" West 1848.74 feet; thence South 00°51'48" West 431.07 feet to the beginning of a non-tangent 900.00 foot radius curve concave Northeasterly, to which a radial line bears South 15°05'10" West; thence Northwesterly along the arc of said curve through a central angle of 01 °44'50" a distance of 27.45 feet; thence North 73°10'00" West 120.00 feet to the beginning of a tangent 900.00 foot radius curve concave Northeasterly; thence Northwesterly along the arc of said curve through a central angle of 29°32'00" a distance of 463.91 feet; thence South 46°22'00" West 82.83 feet to the beginning of a tangent 150.00 foot radius curve concave Northerly; thence Westerly along the arc of said curve through a central angle of 82°18'00" a distance of 215.46 feet; thence North 51 °20'00" West 440.25 feet to the beginning of a tangent 700.00 foot radius curve concave Northeasterly; thence Northwesterly along the are of said curve through a central angle of 19°20'00" a distance of 236.20 feet; thence North 32°00'00" West 425.00 feet to the beginning of a tangent 750.00 foot radius curve concave Southwesterly; thence Northwesterly along the arc of said curve through a central angle of 57°17'44" a distance of 750.00 feet; thence North 89°17'44" West 480.00 feet; thence North 00°41'42" East 205.09 feet; thence South 89°26'46" East 2458.80 feet; thence North 02°38'00" West 5065.02 feet to the Point of Beginning. Excepting therefrom the following described parcels of land: RE 103 4/89 5620 Friar, Road RlCKENGINEERING COMPANY 2833San Diego California 92110-2596 (619)291-0707 Legal Description J-12987 Order No. RANCHO CARRILLO, EXCLUDING PARK SITES, SCHOOL SITE, VILLAGES H, J, 0, Q PHASE 1, AND PORTIONS OF VILLAGES "A-D" Rev. By By: RB/jb.005 TC Ret. Co. Oescr. Date: July 1, 1999 Page 3 of 7 (Existing Park Site 1) Commencing at the Southeast comer of said Record of Survey No. 9112; thence North 00°07'39" East along the Easterly line thereof 1335.81 feet; thence leaving said Easterly line North 89°46'11" West 1308.84 feet; thence North 00°21'00" East 1398.14 feet; thence North 89039'00" West 542.11 feet to the TRUE POINT OF BEGINNING, being a point on that certain document granted to the City of Carlsbad on February 24,1977 as File/Page 77-068081; thence along said document the following courses: South 36°15'49" West 408.00 feet; South 05°10'15" East 176.66 feet; South 06°32'57" West 225.02 feet; South 79°55'36" East 228.30 feet; South 32°22'19" East 107.90 feet; South 19°16'22" West 68.69 feet; South 76°50'48" West 575.23 feet; North 48°51'58" West 291.10 feet; North 16°01'37" East 549.47 feet; North 49°58'58" East 494.91 feet; North 85050'40" East 240.49 feet to the TRUE POINT OF BEGINNING. (Existing Park Site 2) That parcel of land described in that document recorded November 4, 1997 as Document No. 97-0554155 and being a portion of Parcel 2 of Certificate of Compliance, Document No. 94-0497667 in the City of Carlsbad, both on file in the Office of the County Recorder of San Diego County, State of California described as follows: Beginning at an angle point in the Southeasterly line of said Parcel 2 formed by the intersection of the two courses: North 85°50'40" East 92.05 feet, North 04°09'20" West 326.97 feet; thence along said Southeasterly line the following courses: South 85°50'40" West 92.05 feet to the beginning of a tangent 2000.00 foot radius curve RE 103 4/89 5620 Friars Road SanDiego RICK ENGINEERING COMPANY California 92110-2596 (619)291-0707 2834 Legal Description J-12987 Order No. RANCHO CARRILLO, EXCLUDING PARK SITES, SCHOOL SITE, VILLAGES H, J, 0, Q PHASE 1, °ate AND PORTIONS OF VILLAGES "A-D" Rev. By _ By: RB/jb.005 TC Ret. Co. Descr. Date: July 1, 1999 Page 4 of 7 concave Southerly; thence Westerly along the arc of said curve through a central angle of 02°22'02" a distance of 82.63 feet; thence leaving said Southeasterly line North 50°32'05" East 214.03 feet to said Southeasterly line; thence along said Southeasterly line South 04°09'20" East 122.00 feet to the Point of Beginning. (School Site) That portion of Parcel 2 of Certificate of Compliance, Document No. 94-0497667 and Parcel 3 of Certificate of Compliance, Document No. 94-0497669 both in the City of Carlsbad, on file in the Office of the County Recorder of San Diego County, State of California described as follows: Beginning at an angle point in the Southeasterly line of said Parcel 2 formed by the intersection of the two courses: North 85°50'40" East 92.05 feet, North 04°09'20" West 326.97 feet; thence North 04°09'20" West along said Southeasterly line 122.00 feet to the TRUE POINT OF BEGINNING; thence South 50°32'05" West 230.39 feet; thence South 38°58'12" East 19.32 feet; thence South 55°32'56" West 143.45 feet; thence South 48°54'47" West 151.28 feet; thence South 44°27'17" West 104.02 feet; thence South 56°30'35" West 147.17 feet; thence North 74°13'36" West 146.41 feet; thence North 84°11'15" West 218.11 feet to the beginning of a tangent 140.00 foot radius curve concave Southeasterly; thence Southwesterly along the arc of said curve through a central angle of 56°28'45" a distance of 138.01 feet; thence South 39°20'00" West 236.54 feet; thence South 46°46'16" West 31.78 feet; thence South 60°10'20" West 58.15 feet to the beginning of a tangent 125.00 foot radius curve concave Northerly; thence Westerly along the arc of said curve through a central angle of 51 °48'28" a distance of 113.03 HE 103 4/89 m RICK ENGINEERING COMPANY5620 Friars Road San Diego 1V^K ONLdlN£JiKliNLr UJMl'AN Y 289^ California92110-2596 "^ ** (619)291-0707 Legal Description J-12987 Date Order No. RANCHO CARRILLO, EXCLUDING PARK SITES, SCHOOL SITE, VILLAGES H, J, 0, Q PHASE 1, AND PORTIONS OF VILLAGES "A-D" Rev. By By: RB/]b.005 TC Hef. Co. Descr. Date: July 1, 1999 Page 5 of 7 feet; thence North 68°OT12" West 41.08 feet to the beginning of a tangent 100.00 foot radius curve concave Southerly; thence Westerly along the arc of said curve through a central angle of 35°36'36" a distance of 62.15 feet; thence South 76°22'12" West 45.13 feet; thence North 87°28'01" West 41.18 feet; thence North 18°34'56" West 95.67 feet; thence North 72°43'50" East 84.30 feet to the beginning of a tangent 1451.00 foot radius curve concave Northwesterly; thence Northeasterly along the arc of said curve through a central angle of 30°05'48" a distance of 762.19 feet to the beginning of a reverse 20.00 foot radius curve concave Southeasterly; thence Northeasterly along the arc of said curve through a central angle of 21 °12'16" a distance of 7.40 feet to the beginning of a reverse 30.00 foot radius curve concave Northwesterly; thence Northeasterly along the arc of said curve through a central angle of 33°23'30" a distance of 17.48 feet to the beginning of a reverse 170.00 foot radius curve concave Southeasterly; thence Northeasterly along the arc of said curve through a central angle of 10°03'18" a distance of 29.83 feet to the beginning of a reverse 1451.00 foot radius curve concave Northwesterly; thence Northeasterly along the arc of said curve through a central angle of 07°43'04" a distance of 195.45 feet; thence North 32°47'02" East 240.48 feet to the beginning of a tangent 2149.00 foot radius curve concave Southeasterly; thence Northeasterly along the arc of said curve through a central angle of 00°54'11" a distance of 33.87 feet; thence North 33°41'13" East 280.45 feet to the beginning of a tangent 25.00 foot radius curve concave Southerly; thence Northeasterly along the arc of said curve through a central angle of 91°53'02" a distance of 40.09 feet; thence South 46°49'56" East 31.87 feet; thence South 53°32'41" East 8.86 feet; thence South 59°31'58" East 35.19 feet to the beginning of a non-tangent 2337.00 foot radius curve concave Southwesterly, to which a radial line bears North 37°25'20" East; thence Southeasterly along the arc of said curve through a central angle of 13°37'27" RE 103 4/89 5620 Friars Road San Diego California 921IO-2S96 (619)291-0707 RICK ENGINEERING COMPANY 2836 Legal Description J-12987 RANCHO CARRILLO, EXCLUDING PARK SITES, SCHOOL SITE, VILLAGES H, J, O, Q PHASE 1, AND PORTIONS OF VILLAGES "A-D" By: RB/jb.005 Date: July 1, 1999 Page 6 of 7 TC Hef._ Co. Order No. Date Descr. Rev. By a distance of 555.71 feet; thence South 50°32'05" West 59.84 feet to the TRUE POINT OF BEGINNING. (Village "H") Carlsbad Tract No. 97-01, Rancho Carrillo Village "H" in the City of Carlsbad, County of San Diego, State of California according to the map thereof No. 13581 on file in the Office of the San Diego County Recorder. (Village "J") Carlsbad Tract No. 93-01, Rancho Carrillo Village "J" in the City of Carlsbad, County of San Diego, State of California according to the map thereof No. 13552 on file in the Office of the San Diego County Recorder. (Village "0") Carlsbad Tract No. 93-08, Rancho Carrillo Village "0" in the City of Carlsbad, County of San Diego, State of California according to the map thereof No. 13553 on file in the Office of the San Diego County Recorder. (Village "Q". Phase 1) Carlsbad Tract No. 93-04, Rancho Carrillo Village "Q" Phase 1 in the City of Carlsbad, County of San Diego, State of California according to the map thereof No. 13551 on file in the Office of the San Diego County Recorder. RE103 4/89 5620 Friars Road San Diego California 92110-2596 ($19)291-0707 RICK ENGINEERING COMPANY 2837 Legal Description J-12987 RANCHO CARRILLO, EXCLUDING PARK SITES, SCHOOL SITE, VILLAGES H, J, 0, Q PHASE 1, AND PORTIONS OF VILLAGES "A-D" By: RB/jb.005 Date: July 1, 1999 Page 7 of 7 TC Hef._ Co. Order No. Date Descr. Rev. By _ (Villages "A-D". Excluding Lots 206 and 208) Carlsbad Tract No. 97-02, Rancho Carrillo Villages "A-D" in the City of Carlsbad, County of San Diego, State of California according to the map thereof No. 13582 on file in the Office of the San Diego County Recorder, excluding therefrom, the herein described exception, Lots 206 and 208 of said Map 13582. James M. Coram L.S. 5059 RE 103 4/89 2833 ATTACHMENT "B" PHASE 1 MULTIFAMILY SIZE AND BEDROOM COUNT Number of Bedrooms One Two Three Village H J Ql G K M Q-2 Q-4 R-3 Locations Lots 6, 12, 22, Lots 6, 23, 28, Lots 6, 12,30, 77&101 Lots 358, 362, Square Footage of Unit 700 S.F. 900 S.F. 1100 S.F. TOTAL: SECOND DWELLING UNITS Total Number S8&69 5 43, 53 & 61 6 44. 53, 72, 8 376, & 390 4 Number of Units 12 48 56 116 Size 587 square feet 616 square feet 611 square feet (5), 616 square feet (3) 400 to 640 square feet Lots 84, 93, 96, 102, 109, 128, 138, & 153 Lots 245, 258, 300 & 307 Lots 113, 137, Lots 2 17, 227, Lots 166, 187, 8 262, 283, 290, 7 144, & 157 4 234 3 190, 197 and 204 5 TOTAL 50 400 to 640 square feet 432 to 640 square feet 432 to 640 square feet 432 to 640 square feet 432 to 640 square feet AFFORDABLE FOR-SALE HOUSING UNITS Number of Bedrooms 2 3 3 Square Footage 901 1003 1139 Number of Units 10 40 40 Rancho Carrillo Amendment #2 12 07/08/99 ATTACHMENT "C" 2 8 3 9 PHASING OF CONSTRUCTION 2840 RANCHO CARR1LLO - AFFORDABLE HOUSING AGREEMENT PHASING FOR CONSTRUCTION OF UNITS Action Required/ Phasing Received Appropriate Approval of &. execute Second Amended Affordable Housing Agreement. 1 16 unit affordable apartment project and 90 town home units under construction. Final Certificate of Occupancies issued for the 116 unit affordable apartment project and 90 affordable town home units. Total # ot Building Permits & Type Released 55 S market rate building permits and 116 affordable apartment building permits and 90 for-sale town homes and Building Permits for up to 50 SOU'S 548 market rate building permits 349 market rate building permits 1,711 units % of Market Rate Permits for Project 38'!o 76% 24% 100% Comments Developer may proceed with 55S market rate units prior to starting 1 16 affordable apartment units & 90 for-sale town homes. Final maps can be recorded for a total of 1711 units within the Master Plan At this point, the total market rate permits allowed to be issued would be 1 106 or 76% of the total number of market rate units in Phase 1 & Phase 2 of the development. This number couid be increased by 7 for every SOU Admin. Permit approved & issued by the City. At this point, all 116 affordable apartment units & 90 town home units will be complete. The final 349 market rate units could be under construction. It is possible that the final 50 SDU's will not be completed until the completion of all market rate units. . 1455 market rate, 1 16 affordable apartment units, 90 town home units & 50 SDU's.