HomeMy WebLinkAboutCT 97-16; Kelly Land Company; 2002-0135148; Affordable Housing Agreement/ReleaseCily of Carlsbad
City Clerk's Office
1200 Carlsbad Village Drive
ABOVE SPACE FOR RECORDER'S USE
DOC # 2002-0135148
FEB 153 2002 2: 13 PM
ffFICIlV REcoRos W DIEGO DMTY REWRDER'S OFFICE GawRI J. SHITH, CoUNpl REMulER ms: 111.00
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.I
IMPOSINGRESTRICTIONS ON REAL PROPERTY
This AFFORDABLE HOUSING AGREEMENT IMPOS&G RESTRICTIONS ON
REAL PROPERTY ("Agreement"), entered into this day of d*sr, , 1998 (the
"Effective Date"), by and between the CITY OF CARLSBAD, a Municipal Corporation
(hereinafter referred to as the "City"), KELLY LAND COMPANY, a Delaware corporation
(hereinafter referred to as "Kelly"), and PTR DEVELOPMENT SERVICES INCORPORATED,
a Delaware corporation (which is affiliated with Archstone Communities, a Maryland real estate
investment trust, successor by merger to Security Capital Pacific Trust) (hereinafter referred to as
"PTR')), is made with reference to the following:
A. Kelly is the record owner of certain real property located in the City of Carlsbad,
California (the "Kelly Ranch") described in "Exhibit A," which is attached hereto and
incorporated herein by this reference. The Kelly Ranch consists of several planning areas, also
designated in "Exhibit A." As used herein, the term "Planning Area" shall refer, as indicated, to
one or more of such planning areas so designated on "Exhibit A," The various Planning Areas as
shown on "Exhibit A" either are, or will become, separate legal parcels in accordance with the
applicable legal requirements of the State of California and the City.
B. Upon their creation as separa*e legal parcels, Kelly intends to convey or cause
conveyance of record title to Planning Areas K and L, respectively, to other persons pursuant to
contractual commitments not related to this Agreement. Any further development activity with
respect to either Planning Area K orplanning Area L will he the responsibility of the respective
transferee. All of the Planning Areas of the Kelly Ranch, other than Planning Areas K and L, are
herein referred to collectively as the "Kelly Ranch Project." Kelly is the developer of the Kelly
Ranch Project. '.
C. The parties anticipate that the total number of dwelling units for the Kelly Ranch
Project will not exceed eight hundred seventy-seven (877). In order to satisfy the affordable
housing requirements for the entire Kelly Ranch Project, it is the intent ofthe parties that a
combined inclusionary project (the "Combined Project") be developed on Planning Areas D, G
and H, for the development of Affordable Units (as hereinafter defined) in relation to unrestricted
Kelly Ranch AHA Agreement Final
09/01/98
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units ("Market Units") in the Kelly Ranch Project (including the Combined Project) according to
the chart set forth in "Exhibit B" . The parties acknowledge that the Affordable Units in the
Combined Project will satisfy the inclusionary housing requirements for the Kelly Ranch Project,
so long as the aggregate number of dwelling units does not exceed eight hundred seventy-seven
(877) for the Kelly Ranch Project.
D. Kelly has filed a separate application for tentative subdivision map and site plan
with respect to Planning Area E. As of the Effective Date, Planning Area E is the subject of
certain development approvals received from the City including without limitation: the Tentative
Subdivision Map (C.T. 96-07), Planned Unit Development Permit (PUD 97-04), Hillside
Development Permit (HDP 96-1 3) and Coastal Development Permit (CDP 96-13), approved by
Resolution No. 96-68, adopted by the City on April 7, 1998.
E. Kelly has filed a separate application for a General Plan Amendment, rezoning
and a master tentative map (the "Master Tentative Map") with respect to Planning Areas D, F, G,
H, I and J, as well as K and L. Planning Areas K and L are being processed merely to create
them as legal parcels, with the Master Tentative Map intended to note that further mapping of
parcels K and L, respectively, will he required prior to any development of them. Kelly has also
filed a proposed amendment to the Zone 8 Local Facilities Management Plan. In addition, Kelly
and PTR have filed or intend to file a separate application for approval of a site development plan
with respect to Planning Area J, a planned development permit with respect to Planning Area I
and a site development plan for Planning Areas D, G and H.
F. Kelly and PTR have entered into that certain Purchase Agreement dated
~e~tember 4. , 1998 (the "Purchase Agreement"), whereby Kelly has agreed to sell Planning
Areas D, G, H, I and J to PTR subject to the terms and conditions set forth therein. Among other
things, said terms that allow PTR to take Title to all the Master Tentative Map Ian& but if so then
concurrently with recordation of the final map for such land (i) PTR will Deed Planning Area F to
Kelly, and (ii) PTR will Deed Planning Areas K and L to the Kelly Family Trust and to Wayne
Callaghan, respectively.
G. It is anticipated that the Combined Project will be developed by PTR within
Planning Areas D, G and H (the "Security Property").
H. The City issued an approval for Planning Area E subject to certain conditions of
approval, including a requirement that Kelly enter into an Affordable Housing Agreement in
which Kelly causes to be provided at least twenty-two (22) units affordable to low income
households (the "Planning Area E Inclusionary Requirement").
NOW, THEREFORE, in consideration of the mutual covenants and promises of the parties
herein contained, it is mutually agreed by and between the undersigned parties as follows:
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1. Satisfaction of Affordable Housinc Obligation and Conditions of Approval. In order to
satisfy the Conditions of Approval for CT 96-07 and the requirements of the City’s Inclusionary
Housing Ordinance, Carlsbad Municipal Code Chapter 21.85, the developers of the Kelly Ranch
Project shall provide a minimum of one hundred thirty-two (132) units which shall be restricted and
affordable to lower income households according to the schedule and terms contained herein. This
Agreement is an Affordable Housing Agreement pursuant to Section 21.85.030(b)(5) of Chapter
21.85 of the Carlsbad Municipal Code. Developer shall submit this Agreement to the City and this
Agreement shall be recorded concurrently with the recordation of the final map for Planning Area
E.
2. Inclusionarv Requirements for PlannineArea E. Prior to the recordation of the Affordable
Housing Agreement, Kelly has voluntzdly agreed to provide additional security to insure the
construction of the Affordable Units required for Planning Area,E. The additional security will
include (I) a cash deposit or letter of credit in the amount of $220,000, (2) the recordation of a deed
restriction, in a form acceptable to the City of Carlsbad, upon Planning Areas D, G and H which will
limit development to that which can satisfl the affordable hwsing requirement for the Kelly Ranch
Project, and (3) agreement to execute acknowledged grant deeds from Kelly or PTR to the City for
Planning Areas D, G, and H, conveying fee simple title to the City (the “Security Grant Deeds”)
upon final map approval for Planning Areas D, G and H.. The City shall hold the Seeurity Grant
Deeds as additional security for the Developer’s construction of the Affordable Units required for
Planning Area E but shall not accept the grant deeds or record them in the Official Records of the
County of San Diego unless the Developer fails to obtain Site Development Plan approval for the
Combined Project prior to July 1,2000, as required pursuant to Section 2.1 below. The acceptance
and recordation of the Security Grant Deeds shall be solely at the discretion of the City. The
additional security is not an In-Lieu contribution as defined by Chapter 21.85 of the Carlsbad
Municipal Code. Subsequent to the recordation of this Agreement, the developer of Planning Area E
shall be entitled to construct up to a maximum of one hundred forty-five (i45) Market Units.
2.1 Satisfaction ofthe Inclusionary Reauirements for Planning. Area E. Upon City
approval of a Site Development Plan for the Combined Project, as defmed in Section 4.1 below,
City inspection and final approval ofthe grading of Planning Areas D, G and H, and the installation
by Kelly of one or more signs on the subject property acceptable to the City identifying the future
apartment project to the satisfaction of the City, the additional security obligations described in
paragraph 2 above shall be released by the City. In the event that the Site Development Plan for the
Combined Project is not approved prior to July 1,2000, at the discretion of the City, the City may (i)
cause Kelly to forfeit the cash deposit and record the Security Grant Deeds, or (ii) extend the
deadline and require the developer to continue efforts to obtain approval of a Site Development Plan.
In the event that Kelly or PTR does not obtain approval of aSite Development Plan and the City
exercises its right to record the security grant deeds, the City shall have the options of (i) retaining
ownership of the subject property or (ii) selling the subject property, or a portion thereof, at its
discretion, as required to develop a feasible affordable housing project to satisfy the obligation to
construct 22 affordable housing units for Planning Area E. If, as a result, of sale of the subject
property, or a portion thereof, or development of an affordable housing project which exceeds the
Planning Area E obligation, the City should receive cash proceeds which exceed the total amount of
revenue required to actually construct the 22 affordable housing units deemed feasible by the City to
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satisfy the inclusionary housing obligation for Planning Area E andor has land left over in excess of
that needed to construct such 22 affordable housing units, then Kelly shall receive any excess land
and/or cash proceeds from the City minus the City’s costs of administration of the project, including
expenses as verified by a third party audit. The City shall disburse any excess proceeds to Kelly
following completion of a formal, third party audit.
3. Inclusionarv Reauirements for Plannine. Areas A, D, G, H, I and J
3.1 Conveyance to PTR. In order to satisfy the Inclusionary Ordinance with respect to
the balance of the entire Kelly Ranch Project, and subject to the terms and conditions set forth in the
Purchase Agreement, Kelly shall convey the Security Property to PTR for development of the
Combined Project. When the obligations set forth below have been satisfied with respect to the
Combined Project, the Combined Project shall he deemed to satisfy the Inclusionary Ordinance and
all inclusionary housing requirements for the remainder of the Kelly Ranch Project.
4. Terms Governing Provision of Affordable Units.
4.1 Number of Affordable Units. The Combined Project shall include up to four hundred
ninety-five (495) rental housing units, a minimum of one hundred thirty-two (132) of which shall be
rent-restricted and affordable to lower income households as required and defined by Chapter 21.85
of the Carlsbad Municipal Code (the ”Affordable Units”), and as shown in “Exhibit B”. The
requirement for one hundred thirty-two (132) Affordable Units is based on fifteen percent (1 5%) of
eight hundred seventy-seven (877) aggregate dwelling units (including the Affordable Units) for the
entire Kelly Ranch Project. The maximum number of dwelling units for the entire Kelly Ranch
Project shall not exceed eight hundred seventy-seven (877). The maximum number of Market Units
shall not exceed seven hundred forty-five (745). If the total number of housing units increases or
decreases within the Kelly Ranch Project, the minimum number of affordable housing units shall
increase or decrease accordingly, but shall never be less than 15% of the total number of housing
units. This agreement shall be amended to reflect any changes to the total number of housing units
and applicable affordable housing requirement. Amendments to this agreement to reflect changes in
the total number of housing units and the minimum number of affordable units may be executed by
the Community Development Director, subject to the review and approval of the City Attorney.
4.2 Location of Affordable Units. The Combined Project shall be located in Planning
Areas D, G and H. Specific Affordable Units within the Combined Project shall be distributed
throughout the Combined Project, and shall be as provided in an approved Site Development Plan.
Modifications to the distribution and timing of the Affordable Units shall be subject to the prior
written approval of the Community Development Director, with a recommendation from the
Housing and Redevelopment Director.
4.3 Size and Bedroom Count. The Affordable Units in the Combined Project shall
have the number of bedrooms and square footage as shown in “Exhibit C”.
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4.4 Affordabilitv Reauirements. The Affordable Units shall be available to households
with incomes not exceeding 80% of the median income for San Diego County, adjusted for actual
household size. Monthly Rents of the Affordable Units shall not exceed 1/12th of 30% of 80% of
median income for San Diego County, adjusted for assumed household size appropriate for the unit.
For purposes of this Agreement, “Rent” shall include a utility allowance as established and adopted
by the City of Carlsbad Housing Authority, as well as all monthly payments made by the tenant to
the lessor in connection with use and occupancy of a housing unit and land and facilities associated
therewith, including any separately charged fees, utility charges, or service charges assessed by the
lessor and payable by the tenant. 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 upon request to the City of Carlsbad.Housing and Redevelopment
Department. With respect to each Affordable Unit, the affordability requirements of this Section 4.4
shall continue for fifty-five (55) years from the date of issuance of a Certificate of Occupancy by the
City for such unit or another comparable unit based upon substitution provisions pursuant to the
Regulatory Agreement. The affordability requirements of this Section 4.4 shall be set forth in the
Regulatory Agreement between the Developer or its successor and the City, provided for in Section
5 below, which shall supersede this Agreement upon recordation of the Regulatory Agreement.
4.5 Schedule for Developing Affordable Units.
4.5.1 Prior to recordation of this agreement, Kelly shall provide the additional
security as described in Section 2 of this Agreement.
4.5.2 Concurrent with the recordation of the first map for Kelly Ranch, this
agreement shall be executed and recorded against the Kelly Ranch Project.
4.5.3 Prior to the Construction of any units within any Planning Area, other than
Planning Area E. the developer of the Combined Project shall have received approval for a Site
Development Plan for the Combined Project. The Site Development Ptan shall designate the
location, size and phasing of constnrction of the Affordable Units.
4.5.4 The Affordable Units shall be developed in accordace with the approved
Site Development Plan for the Combined Project and as more fully detailed in Exhibit B of this
agreement. The release of building permits for all units within the Kelly Ranch Project shall be in
accordance with Exhibit B of this Agreement. Subject to tentative receipt of all necessary City and
other public agency approvals, PTR intends to complete the Combined Project by October 3 I, 2001.
4.5.5 The first 22 units completed within the Combined Project shall be designated
Affordable Units to satisfy the inclusionary housing requirement of Planning Area E.
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5. Citv Auuroval of Documents The following documents, in form and substance acceptable
to the City, shall be used in connection with the rental of Affordable Units. Such documents shall be
prepared by the PTR and shall be submitted to the Housing and Redevelopment Director for review
and approval no later than the start of construction of the Affordable Units.
5.1 A marketing plan consistent with the terms of this Agreement, establishing the
process for seeking, selecting and determining the eligibility of tenants of the Affordable Units.
5.2 Form of Rental Agreement.
5.3 A Property Management Plan.
5.4 A Form of Regulatory Agreement betweenPTR and City (the "Regulatory
,,
Agreement"), consistent with this Agreement and the approved Site Development Plan and
following the format designated by City and provided to PTR.
5.5 Any of the documents identified in section 5 may be revised by PTR from time to
time with the prior written approval of the Housing and Redevelopment Director.
6. Request for Bond Issuance Particiuation Upon receipt of a written request from PTR,
the City may consider to make all necessary applications for the issuance of revenue bonds pursuant
to Health and Safety Code Section 52075, gt. &
7. Rental Terms. The Affordable Units shall be rent-restricted as described in "Exhibit D for a
period of fifty-five (55) years commencing on the date the certificate of occupancy is issued for the
first Affordable Unit. The Schedule of Maximum Eligible Tenant Incomes and Affordable Rents
(the "Schedule") attached hereto and incorporated herein as "Exhibit D" sets forth the City's
requirements for maximum household income of Tenants of the Affordable Units ("Eligible
Tenants") and the methodology for calculation of the rents of Affordable Units which will be
affordable to each of the Eligible Tenants (the "Affordable Rents"). The Affordable Rents will vary
depending on the number of bedrooms in the Affordable Unit, and the applicable information from
"Exhibit D" as the same varies from time to time. The Schedule also includes initial estimates of
Eligible Tenant actual incomes and the corresponding Affordable Rents. The final Schedule shall be
established prior to lease up based on the San Diego County Area Median Income and the cost
factors applicable at the time. The final Schedule shall be submitted by PTR and approved by the
City's Housing and Redevelopment Director.
8. Reporting and Compliance Monitoring. PTR shall submit an annual report to the City as
required under the Regulatory Agreement, identifying which units are Affordable Units, the monthly
rent, vacancy information for each Affordable Unit, and monthly income of the tenants of each
Affordable Unit for the prior year, together with such other information as reasonably required by
the City to verify compliance with this Agreement.
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9. Release of Subiect 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, excluding Planning Area E,
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, excluding Planning
Area E. 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 oftrust 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 final inspection and issuance of a
certificate of occupancy for 132 Affordable Units, all Planning Areas, with the exception of Planning
Areas D, G and H, shall be released from the burdens of this Agreement. The burdens of this
agreement shall remain in full force and effect and recorded against Planning Areas D, G and H for
the 55 year duration of this agreement.
10 Default. Failure of Kelly or PTR to cure any default in either Kelly's or PTR'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 the nature which cannot be cured within such ninety (90)
day period, the failure of Kelly or PTR to commence to cure such default within the ninety (90) day
period or Kelly's or PTR's failure to proceed diligently to complete the cure of such a default within
I80 days) will constitute a breach of the Agreement and the requirements of the Carlsbad Municipal
Code chapter 21.85 and the City may exercise any and all remedies available to it with respect to
Kelly's and PTR'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 Kelly Ranch.
1 1. 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.
12. Hold Harmless. Kelly and PTR will each indemnify and hold harmless (without limit as to
amount) the City and its elected officials, officers, employees arid agents in their official capacity
(hereinafter collectively referred to as "Indemnitees"), 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 to
PTR's construction of the Combined Project, and shall protect and defend Indemnitees, and any of
them with respect thereto; provided, however, that this section shall not be applicable to matters
involving any gross negligence or willful misconduct on the part of any Indemnitee.
The foregoing obligation shall be covered by appropriate insurance policies for the
Combined Project naming Indemnitees as additional named insureds with aggregate limits of not
less than five million dollars ($5,000,000) purchased by PTR at its sole expense 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 the first building permit for
the Combined Project.
14 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:
TO THE CITY OF CARLSBAD:
CITY OF CARLSBAD
Housing and Redevelopment Department
Attn: Housing and Redevelopment Director
2965 Roosevelt Street, Suite B
Carlsbad, California 92008-2389
TO KELLY:
Kelly Land Company
Attn: D. L. Clemens
c/o Hillman Properties West, Ine.
201 1 Palomar Airport Road, Suite 206
Carlsbad, California 92008
with copies to:
Sheppard, MuUin, Richter & Hampton LLP
Attn: Christopher B. Neils, Esquire
501 West Broadway, 19th Floor
San Diego, California 92101-3598
PTR DEVELOPMENT SERVICES INCORPORATED
Attn: Joseph G. DiCtistina
7670 South Chester Street
Englewood, CO 80112
Archstone Communities Trust
Attn: Michael BermadTamara Alexander
7670 South Chester Street
Englewood, CO 801 12
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811335
Mayer, Brown & Platt
Attn: Mark Mears, Esquire
190 South La Salk Street
Chicago, Illinois 60603-3441
Any party may change the address to which notices are to be sent by notifying the other
parties of the new address, in the manner set forth above. Such notice shall be deemed effective
upon delivery, if personally delivered, two (2) business days after mailing in accordance with the
requirements set forth above.
15. 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.
16. Duration of Apreement: Effect on PTR- This Agreement shall terminate upon the earlier of
55 years from the date of this Aggreement and/or the granting of a written release by the Community
Development Director. This Agreement, and any section, subsection, or covenant contained herein,
may be amended only upon the written consent of Kelly, PTR and the Community Development
Director. PTR shall have no obligations under this Agreement unless and until it becomes owner in
fee simple of Planning Areas D, G and H.
17. Permitted Delavs. Performance by any party of its obligations under this Agreement shall be
excused during any period of delay caused at any time by reason of acts of God or civil commotion,
riots, strikes, picketing or other labor disputes, shortage of materials or supplies, damage to work in
progress by reason of fire, floods, earthquake or other casualty, restrictions imposed or mandated by
governmental or quasi-governmental entities, enactment of conflicting laws, litigation, acts or
neglect of the other parties, or any other cause beyond the reasonable control of a party, but not
including failure to obtain financing. Each party shall promptly notify the other parties of any delay
hereunder as soon as possible after the same has been ascertained. The term of this Agreement and
the time deadlines for such performance shall be extended by the period of any such delay.
18. Right to Transfer. Kelly shall have the right to sell, mortgage, hypothecate, assign or
transfer ("Transfer") the Kelly Ranch Project in whole or in part to any person, partnership, joint
venture, firm or corporation including, without limitation, PTR ("Transferee") at any time during the
term of this Agreement. Kelly and PTR shall ais0 have the right to Transfer their respective rights
under this Agreement as they pertain to the Combined Project, the Kelly Ranch Project, or any
portion thereof. It is understood and agreed by the parties that portions of the Kelly Ranch Project
may be subdivided after the date of this Agreement. One or more of such subdivided parcels may be
Transferred to persons for development by them in reliance upon the provisions of this Agreement.
The obligations of Kelly and any such Transferees are several and not joint.
19. Recording of Agreement. The parties hereto shall cause this Agreement to be recorded
against the Kelly Ranch Project, which is the burdened land and the benefitted land, in the official
Records of the County of San Diego.
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20. 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 executed as
of the day and year first above written.
KELLY: CITY:
KELLY LAND COMPANY, CITY OF CARLSBAD,
a Delaware A Municipal Corporation
cor oration
PTR: APPROVED AS TO FORM
PTR DEVELOPMENT SERVICES
INCORPORATED, a Delaware
corporation
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STATE OF CALIFORNIA )
On 9-/7 , 199x, before me-personally appeared .. m.5 and , personally known to me
(or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) idare
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in hidheritheir authorized capacity(ies), and that by his/her/their signature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
(SEAL)
STATE OF 1
COUNTY OF hi%f%t%E )
) ss.
efore me, -&d h, kfc&yersonally appeared , personally known to me
(or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) idare
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in his/her/their authorized capacity(ies), and that by hislheritheir signature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
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811338
"EXHIBIT A"
DESCRIPTION OF KELLY RANCH
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Village 'A'
LEGAL DESCRIPTION 1 /33q
THAT PORTION OF LOT 'I' OF RANCHO HEDIONDA, IN THE CITY OF CARLSBAD, COUNTY
OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 823, FILED
IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON NOVEMBER 16,
1896, BEING MORE PARTICULARLY DESCRIBED AS A PORTION OF PARCEL B OF DOCU-
MENT RECORDED SEPTEMBER 27, 1996 AS DOCUMENT NO. 1996-0489999 OF OFFICIAL
RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO, BEING MORE PAR-
TICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF THE LAND DESCRIBED IN SAID PARCEL B;
THENCE ALONG THE WESTERLY LINE THEREOF
1. SOUTH 25'25'07" WEST 266.44 FEET; THENCE LEAVING SAID WESTERLY LINE
2. SOUTH 65Q09'04" EAST 7.57 FEET TO THE BEGINNING OF A TANGENT
5.00 FOOT RADIUS CURVE CONCAVE
SOUTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
3. SOUTHEASTERLY AND 6.18 FEET THROUGH A CENTRAL ANGLE OF
SOUTHERLY 70*49'14"; THENCE
4. SOUTH 05Q40'10" WEST 18.56 FEET TO THE BEGINNING OF A TANGENT
20.00 FOOT RADIUS CURVE CONCAVE
NORTHEASTERLY; THENCE ALONG THE
ARC OF SAID CURVE
5. SOUTHERLY, EASTERLY, 40.59 FEET THROUGH A CENTRAL ANGLE OF
AND NORTHESTERLY 116'16'33''; THENCE
6. NORTH 69Q23'37" EAST 21.86 FEET; THENCE
7. NORTH 58Q14'06" EAST 35.24 FEET; THENCE
8. NORTH 49Q19'04" EAST 77.29 FEET TO THE BEGINNING OF A TANGENT
10.00 FOOT RADIUS CURVE CONCAVE
SOUTHERLY; THENCE ALONG THE ARC
OF SAID CURVE
9. NORTHEASTERLY AND 10.46 FEET THROUGH A CENTRAL ANGLE OF
EASTERLY 59857'01"; THENCE
10. SOUTH 70Q43'55" EAST 38.58 FEET; THENCE
11. SOUTH 60Q59'24" EAST 32.80 FEET TO THE BEGINNING OF A TANGENT
10.00 FOOT RADIUS CURVE CONCAVE
Page 1 of 11
12. SOUTHEASTERLY AND
SOUTHERLY
13. SOUTH llQ18'51" WEST
14. SOUTH 23Q39'23" EAST
15. SOUTHERLY
16. SOUTH 18'15'44" WEST
17. SOUTHERLY
18. SOUTH OSQ58'26" EAST
19. SOUTHERLY AND SOUTH-
EASTERLY
20. SOUTH 72*44'04" EAST
21. EASTERLY, NORTHEAST-
ERLY, AND NORTHERLY
22. NORTH 16Q07'49" EAST
23. NORTHERLY, EASTERLY,
AND SOUTHEASTERLY
24. SOUTH 51Q34'45" EAST
12.62 FEET
9.39 FEET;
6.10 FEET
73.16 FEET
,
76.64 FEET
21.15 FEET
90.78 FEET
46.61 FEET
80.46 FEET
71.58 FEET
62.66 FEET
39.20 FEET
40.33 FEET;
LEo112248OPAI\.Wc. 10/26/01 DER Page 2 of 11
SOUTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE'
THROUGH A CENTRAL ANGLE OF
72Q18'15"; THENCE
THENCE
TO THE BEGINNING OF A TANGENT
100.00 FOOT RADIUS CURVE CONCAVE
WESTERLY; THENCE ALONG THE ARC OF
SAID CURVE
THROUGH A CENTRAL ANGLE OF
41255'07"; THENCE
TO THE BEGINNING OF A TANGENT
50.00 FOOT RADIUS CURVE CONCAVE
EASTERLY; THENCE ALONG THE ARC OF
SAID CURVE
THROUGH A CENTRAL ANGLE OF
24'14'10"; THENCE
TO THE BEGINNING.. OF A TANGENT
40.00 FOOT RADIUS CURVE CONCAVE
NORTHEASTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENT- ANGLE OF
66'45'38"; THENCE
TO THE BEGINNING OF A TANGENT
45.00 FOOT RADIUS CURVE CONCAVE
NORTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
91Q08'07"; THENCE
TO THE BEGINNING OF A TANGENT
20.00 FOOT RADIUS CURVE CONCAVE
SOUTHERLY; THENCE ALONG THE ARC
OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
112'17'26"; THENCE
THENCE
Id C@J
011341
THENCE
TO THE BEGINNING OF A TANGENT
15 .OO FOOT RADIUS CURVE CONCAVE
SOUTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
87Q12'59"; THENCE
TO THE BEGINNING OF A TANGENT
70.00 FOOT RADIUS CURVE CONCAVE
NORTHEASTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
97p34'55"; THENCE
TO THE BEGINNING OF A TANGENT
35.00 FOOT RADIUS CURVE CONCAVE
NORTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
85'25'07"; THENCE'.
TO THE BEGINNING OF A TANGENT
25.00 FOOT RADIUS CURVE CONCAVE
SOUTHEASTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
68906'11"; THENCE
THENCE
TO THE BEGINNING OF A TANGENT
10 .OO FOOT RADIUS CURVE CONCAVE
SOUTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
-
25. SOUTH 57919'.45" EAST
26. SOUTH 67*49'54" EAST
..
27. SOUTHEASTERLY AND
SOUTHERLY
28. SOUTH 19223'05" WEST
29. SOUTHERLY, SOUTHEAST-
ERLY, AND EASTERLY
30. SOUTH 78O11'50" EAST
31. EASTERLY, NORTHEAST-
ERLY, AND NORTHERLY
32. NORTH 16*23'03" EAST
33. NORTHERLY, NORTHEAST-
ERLY, AND EASTERLY
34. NORTH 84'29'3.4" EAST
35. NORTH 77p00'36" EAST
36. EASTERLY, SOUTHEAST-
ERLY, AND SOUTHERLY
37. SOUTH OOO34'55" WEST
42.26 FEET;
25.29 FEET
22.83 FEET
61.59 FEET
119.22 FgET
117.78 FEET
52.18 FEET
105.81 FEET
29.72 FEET
58.51 FEET;
59.73 FEET
18.08 FEET THROUGH A CENTRAL ANGLE OF
103934'19''; THENCE
71.15 FEET TO THE BEGINNING OF A TANGENT
40.00 FOOT RADIUS CURVE CONCAVE
NORTHEASTERLY; THENCE ALONG THE
ARC OF SAID CURVE
LEC/122480PAP..DOC. 10126/01 DW Page 3 of 11
011342
38. SOUTHERLY SOUTH-
-
EASTERLY
39. SOUTH 7OP38'52" EAST
40. SOUTH 85*27'26" EAST
41. NORTH 88*59'03" EAST
42. EASTERLY AND NORTH-
EASTERLY
43. NORTH 26*32'02" EAST
. 44. NORTH 39*53'36" EAST
45. NORTHEASTERLY
46. NORTH 7OP51'21" EAST
47. NORTHEASTERLY
48. SOUTH 82*01'56" EAST
49. NORTH 20931'29'' EAST
50. SOUTH 82901'56" EAST
LEG112248OPAA.wC, 10126l01 DER
49.73 FEET
31.74 FEET;
19.53 FEET;
65.60 FEET
38.15 FEET
34.26 FkET;
190.00 FEET
75.66 FEET
16.00 FEET
47.63 FEET
160.15 FEET;
122.94 FEET
84.60 FEET
Page4of 11
THROUGH A CENTRAL ANGLE OF
71913'47"; THENCE
THENCE
THENCE
TO THE BEGINNING OF A TANGENT
35.00 FOOT RADIUS CURVE CONCAVE
NORTKWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
62'27'01"; THENCE
THENCE
TO THE BEGINNING OF A TANGENT
14 0.00 FOOT RADIUS CURVE CONCAVE
SOUTHEASTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
30957'45"; THENCE
TO THE BEGINNING OF A TANGENT
120.00 FOOT RADIUS CURVE CONCAVE
NORTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENT-L ANGLE OF
22944'24"; THENCE
THENCE
TO THE SOUTHERLY LINE OF AN EASE-
MENT FOR STREET AND INCIDENTAL
PURPOSES PER DOCUMENT RECORDED
NOVEMBER 17, 1977 AS FILE NO.
77-416325 OF OFFICIAL RECORDS;
THENCE ALONG SAID SOUTHERLY LINE
THE FOLLOWING SIX COURSES
TO THE BEGINNING OF A TANGENT
434.00 FOOT RADIUS CURVE CONCAVE
NORTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
51. EASTERLY, NORTHEAST-
-
ERLY, AND NORTHERLY
52. NORTH 04243’04” WEST
53. NORTHERLY
54. NORTHEASTERLY AND
EASTERLY
55. NORTH 78’41’33’’ EAST
56. NORTH 11’25’52” WEST
51. SOUTH 78’41‘33” WEST
58. SOUTHWESTERLY AND
SOUTHERLY
59. SOUTHERLY
60. SOUTH 04O43.04” EAST
177.82 FEET
205.52 FEET
209.91 FEET
.
432.52 FEET
319.97 FEET
34.00 FEET;
319.90 FEET
472.70 FEET
219.22 FEET
205.52 FEET
THROUGH A CENTRAL. ANGLE OF
102241’08”; THENCE
TO THE BEGINNING OF A TANGENT
7 66.00 FOOT RADIUS CURVE CONCAVE
EASTERLY; THENCE ALONG THE ARC OF
SAID CURVE
THROUGH A CENTRAL ANGLE OF
15’42’03” TO THE BEGINNING OF A
366.00 FOOT RADIUS COMPOUND CURVE
CONCAVE SOUTHEASTERLY, A RADIAL
LINE TO SAID BEGINNING BEARS
NORTH 79’01’01” WEST; THENCE
ALONG THE ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
67’42’34”; THENCE
TO THE NORTHERLY LINE OF THE LAND
DESCRIBED AS PARCEL B OF SAID
DOCUMENT RECORDED SEPTEMBER 21,
1996 AS DOCUMENT NO. 1996-0489999
OF OFFICIAL RECOWS; THENCE ALONG
SAID NORTHERLY LINE THE FOLLOWING
EIGHT COURSES
THENCE
TO THE BEGINNING OF A TANGENT
400.00 FOOT RADIUS CURVE CONCAVE
SOUTHEASTERLY; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
61242’34” TO THE BEGINNING OF AN
800.00 FOOT RADIUS COMPOUND CURVE
CONCAVE EASTERLY, A RADIAL LINE
TO SAID BEGINNING BEARS NORTH
79*01’01” WEST; THENCE ALONG THE
ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF
15’42’03”; THENCE
TO THE BEGINNING OF A TANGENT
400 -00 FOOT RADIUS CURVE CONCAVE
NORTHWESTERLY; THENCE ALONG THE
ARC OF SAID CURVE
LEG112248OPAA.DtC. 10/26/01 DER Page 5 of 11
011344
.~
61. SOUTHERLY, SOUTHWEST- 716.88 FEET THROUGH A CENTRAL ANGLE OF
ERLY, AND WESTERLY 102°41'08"; THENCE
62. NORTH 82Q01'56" WEST 1,278.18 FEET; THENCE
63. NORTH 59905'30" WEST 261.14 FEET TO THE TRUE POINT OF BEGINNING.
RESERVING THEREFROM, A 15.00 FOOT WIDE EASEMENT TO CONSTRUCT, RECONSTRUCT,
M7,.IMTAIN, OPERATE, AND REPAIR EARTH EMBANKMENT SLOPES, TOGETHER WITH THE
RIGHT OF INGRESS AND EGRESS OVER, UNDER, ALONG, AND ACROSS ALL THAT
PORTION, LYING SOUTHERLY AND EASTERLY OF AND CONTIGUOUS TO COURSES 50
THROUGH 55 DESCRIBED ABOVE.
THE SIDELINES OF SAID 15.00 FOOT WIDE EASEMENT SHALL BE LENGTHENED OR
SHORTENED TO TERMINATE WESTERLY IN COURSE NO. 49 AND EASTERLY IN COURSE NO.
56 PRODUCED SOUTHERLY. r
ALSO RESERVING THEREFROM, A 20.00 FOOT WIDE EASEMENT FOR CONSTRUCTION PUR-
POSES LYING SOUTHERLY OF AND CONTIGUOUS TO THE SOUTHERLY AND EASTERLY LINE
OF THE ABOVE DESCRIBED 15.00 FOOT WIDE EASEMENT AND SOUTHERLY AND CONTIGU-
OUS TO COURSES 48 AND 49 DESCRIBED ABOVE.
THE SIDELINES OF SAID 20.00 FOOT WIDE CONSTRUCTION EASEMENT SHALL BE
LENGTHENED OR SHORTENED TO TERMINATE WESTERLY IN COURSE NO. 47 AND EASTERLY
IN COURSE NO. 56 PRODUCED SOUTHERLY.
AREA EQUALS 13.34 ACRES MORE OR LESS
NO. 6641
LEGIl2248OP~.WC, 10126/01 DER
PLS 6641
EXPIRES 12/31/03
Page 6 of 1 I
,a I.)
011345 Kelly Ranch
.. Village 'A'
, MClNlTY MAP LEGAL DESCRIPTION:
PORllON OF LOT 3' OF RANCHO AGUA HEDIONDA, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE
ASSESORS PARCEL NO. 's
NO SCALE
OF CALIFORNIA. ACCORDING TO MAP THEREOF NO. 823.
207-101-23 & 208-020-30, 38
BASIS OF BEARINGS: THE BASIS OF BEARINGS FOR THIS
DRAWNG IS THE ESlERLY LINE OF
EVANS POIN< CARLSBAD TRACT
NO. 91-3, MAP NO. 13189 I.€ N 0071'52" E
011346 1 aCh)
EXHIBIT 'B'
.. EXHIBIT 'B'
NOTE: SEE SHEET II FOR UNE/CURM DATA TABLE
SEE SHEET 1 FOR BASIS OF BEARINGS GRAPHIC SCALE
N I
la (Q
011349
EXHIBIT ’B’
In
011350
LEGAL DESCRIPTION
PLANNING AREA D
BEING ALL OF LOTS 82, 161 THROUGH 165 INCLUSIVE AND 171 OF CARLSBAD TRACT
NIA, ACCORDING TO MAP THEREOF NO. 14340, FILED IN THE OFFICE OF THE COUNTY
NO. 97-16A IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFOR-
RECORDER OF SAN DIEGO COUNTY ON FEBRUARY 1, 2002.
LS 6641
EXPIRATION DATE 12/31/03
PAGE 1 OF 1
011351
..
LEGAL DESCRIPTION
PLANNING AREA G
BEING ALL OF LOT 168 OF CARLSBAD TRACT NO. 97-16A IN THE CITY OF CARLSBAD,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO.
14340, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON
FEBRUARY 1, 2002.
LS 6641
EXPIRATION DATE 12/31/03
C:\TUIP\122490 PAG.docl02/04:02) JJH PAGE 1 OF 1
011352
LEGAL DESCRIPTION
PLANNING AREA H
BEING ALL OF LOTS 83 AND 169 THROUGH 170 INCLUSIVE OF CARLSBAD TRACT NO.
97-16A IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA,
ACCORDING TO MAP THEREOF NO. 14340, FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY ON FEBRUARY 1, 2002.
REX S. PLUMMER DATE
LS 6641
EXPIRATION DATE 12/31/03
PAGE 1 OF 1
011353
LEGAL DESCRIPTION
PLANNING AREA I
BEING ALL OF LOTS 81 AND 84 THROUGH 159 INCLUSIVE OF CARLSBAD TRACT NO.
97-16A IN THE CITY OF CARLSBAD, COUNTY OF SAN 'DIEGO, STATE OF CALIFORNIA,
ACCORDING TO MAP THEREOF NO. 14340, FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY ON FEBRUARY 1, 2002.
Exp. date 12-31-03 NO. 6641
REX S. PLUMMER DATE
LS 6641
EXPIRATION DATE 12/31/03
PAGE 1 OF 1
I a p)
011354
LEGAL DESCRIPTION
PLANNING AREA J
BEING ALL OF LOTS 1 THROUGH 79 INCLUSIVE OF CARLSBAD TRACT NO. 97-16A IN
THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING
TO MAP THEREOF NO. 14340, FILED IN THE OFFICE OF THE COUNTY RECORDER OF
SAN DIEGO COUNTY ON FEBRUARY 1, 2002.
\z I-d-
REX S."PLUMMER ' DATE
LS 6641
EXPIRATION DATE 12/31/03
C:\TWP;IZ24YC PiJ.doclOZ/O4<OZI JJH PAGE 1 OF 1
-13 -
“Exhibit B”
Action Requiredl
Phasing
Ceceive Approval of Affordable Hsg.
igreement by City Council &
~rovide agreed upon security for 22
lffordable housing units for Village
~.
Site Development Plan approved by
lity Council for Affordable Housing
’roject (132 units). Villages D,G &
-I must he graded. in addition, one or
nore signs must he installed on the
;ite, which are acceptable to the City,
o identify the future apartment
xoject.
411 building permits issued and
foundations complete, inspected and
Ipproved for 132 apartment units.
Final Certificate of Occupancy must
be issued for at least 132 rental units
and rent restricted at the affordable
rates.
KELLY RANCH - BUILDING PE
# of Ruilding
-
r
-
I
”
”
-
Permits & Type
Released
144
narket rate building
permits
.,
110
market rate
building permits
(SF and/or MF)
and
132
building permits
within mixed
income MF project.
At least 27% of the
MF project must he
affordable units.
and
Building Permits
for clubhouse in
MF project
346
building permits
within mixed
income MF project.
At least 27% of the
MF project must be
affordable units:
-
145
market rate
building permits
Permits for
Project
16%
13%
and
15%
40%
17%
LAN
Comments
Allowed to proceed without
formally approved Site
Development Plan for
affordable project. SDP,
however, must be deemed
supportable by Staff.
At this point, the total market
rate permits allowed to be
issued would he 254 or 29% of
the total number of units
projected; these permits can he
used to construct single family
or multi-family units at the
discretion of the developer/
builder. The total # of building
the affordable, would be 386 or
permits for housing, including
44% of the total # of housing
units projected (877 units).
At this point, there could be a
total of 600 market rate units
under construction which
represents 68% of the total # of
units w/in the project. These
units will he a combination of
single family and multi-family.
The multi-family rental project
is a mixed income (495 units)
project which includes 132
affordable units.
The 132 rental units must he
designated for affordable
housing purposes. Those need
not he the first 132 units.
-14 -
011357
“EXHIBIT C”
AFFORDABLE UNlTS
SIZE AND BEDROOM COUNT
-15 -
011358
Exhibit C
1 Bedroom
2 Bedroom
3 Bedroom
53 580-767 0-73 6- 140
65 984-1 1254 0-115 7-103
14 1340 50 20
811359
“EXHIBIT D”
SCHEDULE OF MAXIMUM ELIGIBLE
TENANT INCOMES AND AFFORDABLE RENTS
[ATTACH CITY SCHEDULE]
-16 -
RECORDING REQUESTED BY First American Title- SAN DIEGO Subdivision Mapping Dept.
WHEN RECORDED MAIL TO:
CITY OF CARLSBAD CITY CLERK'S OFFICE A'M'N: CITY CLERK
1200 CARLSBAD VILLAGE DRIVE CARLSBAD, CA 92008
MAR 12. 2002 11:51 AM
MlCI# am
FEES: 61.00
7112
3 '# ORDERNo. 1156759-15
ADDENDUM NO. 1 TO AFFORDABLE HOUSING AGREEMENT
KELLY LAND COMPANY
THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
1
RECORDING REQUESTED BY AND WHEN RECORDED MAILTO: 71 13
City of Carlsbad
Attn: City Clerk City Clerk's Office
Carlsbad, California 92008
1200 Carlsbad Village Drive
Above Space for Recorder's Use
ADDENDUM NO. 1 TO AFFORDABLE HOUSING AGREEMENT
KELLY LAND COMPANY
This Addendum is entered into as of the 13 day of 9 , 2001, but
retroactively effective as of the first day of July, 2000, amending the affordable housing agre ment imposing
restrictions on real property, dated October 5, 199 $** by and between the CITY OF CARLSBAD, a municipal
corporation, hereinafter referred to as "City", and KELLY LAND COMPANY, a Delaware corporation, hereinafter
referred to as "Kelly".
RECITALS
WHEREAS, the initial affordable housing agreement, dated October 5, 1998 set forth the
affordable housing requirements for the Kelly Ranch Project to be developed on Planning Areas D, G and H of
the Kelly Ranch Development; and whereas parties acknowledge that the Affordable Housing Units as set forth
in the initial affordable housing agreement will satisfy the inclusionaly housing requirements for the Kelly Ranch
Project, as long as the aggregate number of dwelling units does not exceed eight hundred seventy-seven (877)
for the Kelly Ranch Project; and
WHEREAS, the initial affordable housing agreement, dated October 5, 1998, set forth security
provisions for development of affordable housing to satisfy the inclusionaly housing requirements for Planning
Area E of the Kelly Ranch Project in order to allow the development of Planning Area E to proceed ahead of the
remaining Kelly Ranch Project; and
WHEREAS, due to delays in required entitlement approvals for the development of the Kelly
Ranch Project, the City has requested additional land security to ensure the satisfaction of the inclusionary
housing requirements for Planning Area E of the Kelly Ranch Project before Planning Area E may proceed with
final development; and
**and recorded on February 15, 2002 as document no. 2002-0135148 of Official Records**
71.14
Amendment #1 to Kelly Ranch Affordable Housing Agreement
Page 2
WHEREAS, due to changes among the developer parties, PTR Development Services is no
longer a patty to said affordable housing agreement; and
WHEREAS, the City of Carlsbad and the Kelly Land Company mutually desire to amend the
initial affordable housing agreement, dated October 5, 1998, to provide for additional land security and to
extend the security provisions set forth within Section 2 of said agreement to allow Kelly additional time in which
to satisfy its inclusionary housing requirements for Planning Area E,
NOW, THEREFORE, in consideration of these recitals and the mutual covenants contained
herein, City and Kelly hereby agree as follows:
1. PTR DEVELOPMENT SERVICES Incorporated, a Delaware corporation (which is affiliated
with Archstone Communities, a Maryland real estate investment trust, successor by merger to Security Capital
Pacific Trust) has been removed as a developer party to the initial affordable housing agreement dated October
5, 1998, and subsequently shall no longer be a patty to this agreement. All references to PTR Development
Services within the initial affordable housing agreement shall apply to Kelly Land Company with approval of this
amendment.
2. As set forth in Section 2 of the initial affordable housing agreement dated October 5, 1998,
Kelly has voluntarily agreed to provide additional security to ensure the construction of the Affordable Units
required for Planning Area E of the Kelly Ranch Project. Section 2 of the initial affordable housing agreement
shall be hereby amended to include additional land security through recordation of a deed restriction, in a form
acceptable to the City of Carlsbad, for Parcel 5 of the Kelly Ranch Project and as described in Exhibit "B to this
amendment, which shall be deemed the appropriate land security to ensure construction of the Affordable Units
required for Planning Area E if the land security indicated within the initial agreement, known as Planning Areas
the City of Carlsbad or California Coastal Commission. All other requirements as set forth in Section 2 for the
D, G and H, is not provided for any reason, including denial of the appropriate land use permits and/or maps by
as Parcel 5.
land security in the initial affordable housing agreement shall also apply to the additional land security, known
3. The period of time in which Kelly shall accomplish certain matters as related to the provision
of the affordable units described in the initial affordable housing agreement dated October 5, 1998 and for
which the City shall hold the additional security (land and cash deposit or letter of credit) to ensure the
construction of affordable units required for Planning Area E within the Kelly Ranch Project, as set forth in
Section 2 of the initial affordable housing agreement approved on October 5, 1998, shall be extended from July
1, 2000 to December 31, 2001. Kelly is required to extend the additional security of a cash deposit or letter of
credit in the amount of $220,000, and any other applicable security requirements, to December 31, 2001. At the
sole discretion of the City, this deadline for accomplishment of certain matters by Kelly and time for which the
written approval of the Community Development Director.
City may hold the security to ensure the construction of the affordable units may be extended six (6) months by
4. All other provisions of the aforementioned agreement entered into on October 5, 1998, by
2
1 19/01
Amendment #1 to Kelly Ranch Affordable Housing Agreement
Page 3
and between City and Kelly shall remain in full force and effect, with the exception that if the additional land
security known as Parcel 5 must be forfeited to the City for any reason, the City hereby agrees to convey or
cause conveyance of record title to Planning Areas K and L, respectively, to other persons pursuant to
contractual commitments which run with the land and which are not related to this or the initial affordable
housing agreement. Planning Areas K and L shall be excluded from Parcel 5 as additional land security to
the initial affordable housing agreement shall apply to Parcel 5 as additional land security.
ensure the construction of the inclusionary housing units for Planning Area E. All other requirements set forth in
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and
year first above written.
KELLY: CITY:
KELLY LAND COMPANY, a Delaware CITY OF CARLS~AD, a' municipal State of California
APPROVED AS TO FORM:'
(Proper notarial acknowledgment Sf execution by Kelly must be attached. Chairman, president or vice-
Otherwise, the corporation must attach a resolution certified by the secretary or assistant secretary under president and secretary, assistant secretary, CFO or assistant treasurer must sign for corporations.
corporate seal empowering the officer(s) signing to bind the corporation.)
3
1 1910 1
STATE OF CALIFORNIA)
, personally appeared
, personally known
e person(s) whose
name(s) i&e subscribed to the within instrument and acknowledged io me that
helsheithey executed the same in hisheritheir authorized capacity (ies), and that by
hishedtheir signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument.
WITNESS my hand ad official seal.
(SEAL)
71 17
Amendment #I to Kelly Ranch Affordable Housing Agreement
Page 4
EXHIBIT "A"
DESCRIPTION OF LAND
This Addendum to the original Kelly Ranch Affordable Housing agreement approved on
October 5, 1998 applies to the same land as originally described in the previously
approved said agreement.
-4- 1/9/0 1
71 18
Amendment #1 to Kelly Ranch Affordable Housing Agreement
Page 5
EXHIBIT "B"
The additional land security set forth in this Amendment #1 to the Kelly Ranch
Affordable Housing Agreement is known as Parcel 5 and is further described as Parcel A
in the attached Certificate of Compliance for Adjustment Plat recorded in the San Diego
County Recorder's Onice on August 28, 1998.
-5- 1/9/0 1
E
12117101
. . . . . . . . .
'M
Order: !3P-15-00025303 Description: 1998.550156 Page I of 11 Comment: CATHY
.
LEG/lZZ46LLA.WC, 6/8/98. SH/JC
815
EXHIBIT 'A' 71 26
PARCEL 'A'
THAT PORTION OF LOT -18 OF RANCHO AGUA HEDIONDA, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA ACCORDING TO MAP THEREOF NO. 823,
FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID SAN DIEGO COUNTY ON
NOVEMBER 16, 1896, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT POINT NO. 18 AS SHOWN ON SAID MAP 823; THENCE ALONG THE
SOUTHERLY LINE OF SAID LOT 'I'
1. NORTH 86O50'44" WEST
0°2 2. NORTH 0 5' 05" EA ST
3. NORTH 23"17'58" WEST
4, NORTH 66"42'02" EAST
5. EASTERLY
6. NORTH 88°12'02" EAST
7. NORTHEASTERLY
8. NORTH 56O32'23" WEST
9. NORTH 46O04'58" WEST
10. NORTH 06"4!3'58" WEST
11. NORTH 29'27'02'' EAST
1,172.76 FEET TO THE TRUE POINT OF BEGINNING AND THE SOUTHEAST CORNER OF PAR-
CEL 'A' AS DESCRIBED IN CERTIFI- CATE OF COMPLIANCE RECORDED APRIL
21, 1998 AS DOCUMENT NO. 1998-
THENCE ALONG THE EASTERLY LINE OF
SAID LOT 'A'
0223037 OF OFFICIAL RECORDS;
6 63.79 FEET; THENCE
30.00 FEET; THENCE
40.97 FEKT TO THE EEGINNTNG OF A NON-TANGENT
SOUTHERLY; THENCE ALONG THE ARC 300.00 FOOT RADIUS CURVE CONCAVE
OF SAID CURVE
112.57 FEET THROUGH A CENTRAL ANGLE OF 21°30'00"; THENCE
94 -81 FEET TO THE BEGINNING OF A NON-TANGENT'
300.00 FOOT RADIUS CURVE CONCAVE
ARC OF SAID CURVE
NORTHWESTERLY; THENCE ALONG THE
286.62 FEkT THROUGH A CENTRAL ANGLE OF 54'44'25"; THENCE
30.00 FEET; THENCE
459.10 FEET; THENCE
378.65 FEET; THENCE
30.00 FEET; THENCE
PAGE 1 OF 3
Order: EXP-15-00025303 Description: 1998,550156 Page 2 of I1 Comment: CATHY
~ ~~
12. SOUTH 60O32'58" EAST
13. NORTH 29"27'02" EAST
14. NORTH 35O32'17" EAST
15. NORTH 64O00'24" WEST
16. SOUTH 5E013'O5'' WEST
17. NORTH 65'03'51'' WEST
18. NORTH 41°25'21" WEST
19. SOUTHWESTERLY
20. SOUTH 45°20'12" WEST
21. SOUTHWESTERLY
22. SOUTH 00°57'40" WEST
23. SOUTH 68O19'26" WEST
24. SOUTH 12"09'33" WEST
25. SOUTH 12'29'18'' WEST
26. SOUTH 11°22'17" EAST
21. SOUTH 20°42'02" EAST
816
54.67 FEET:
30.00 FEET;
332.53 FEET;
L, 073.85 FEET;
2 67.32 FEET:
313.73, FEET;
238.13 FEET
167.41 FEET
4 92.73 FEET
852.72 FEET
222.80 FEET:
535.66 FEET;
248.90 FEET:
36.00 FEET:
42.37 FEET:
444.52 FEET;
LEG/lZ246LLR.CCC, 6/8/98, SHlJC
THENCE 7121
THENCE
THENCE
THENCE
THENCE
THENCE
TO THE BEGINNING OF A NON-TANGENT
1,951.00 FOOT RADIUS CURVE CON-
CAVE SOUTHEASTERLY, A RADIX TO SAID BEGINNING BEARS NORTH
ARC OF SAID CURVE
39'44'49'' WEST: THENCE ALONG THE
THROUGH A CENTRAL ANGLE OF
04"54'59": THENCE
TO THE BEGINNING OF A NON-TANGENT
1,101.00 FOOT RADIUS CURVE CON-
CAVE SOUTHEASTERLY; THENCE ALONG
THE ARC OF SAID CURVE
THROUGH A CENTRAL ANGLE OF 4402Zr 32" ; THENCE
THENCE
THENCE
THENCE
THENCE
THENCE
LOT 'I' ; THENCE TO THE SOUTH LINE OF SAID
PAGE 2 OF 3
Order: EXP-l5-00025303 Description: 1998.550156 Page 3 of I1 Comment: CATHY
28. SOUTH 86O50'44" EAST 2,490.34 FEET TO THE TRUF: POINT OF BEGINNING.
CONTAINS 118.98 ACRES MORE OR LESS. 1122
" ,"rJ.JlL, -
EXPIRATION DATE 6/30/99
PLS 5127
PAGE 3 OF 3
. . . .
Order: EXP-15-00025303 Description: 1998.550156 Page 4 of I1 Comment: CATHY
818 7123 LEG112246LLA.DM). 12/16/97 SH
EXHIBIT 'A'
PARCEL 'B'
THAT PORTION OF LOT 'I' OF RANCHO AGUA HEDIONDA, Ihi THE CITY OF CARLSBAD, COUNTY OF SAM DIEGO, STATE OF CALIFORNIA ACCORDING TO MAP THEREOF NO. 823,
FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID SAN DIEGO COUNTY ON
NOVEMBER 16, 1896, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
THE LAND DESCRIBED AS PARCEL \A' OF BOUNDARY ADJUSTMENT NO. 496 FILED APRIL 21, 1998 AS DOCUMENT NO. 1998-0223037 OF OFFICIAL RECORDS, IN SAID THE OFFICE OF THE COUNTY RECORDER OF SAID SAN DIEGO COUNTY,
TOGETHER WITH THE LAND RECORDED AUGUST 17, 1973 AS FILE/PAGE NO. 73-231802
OF OFFICIAL RECORDS,.IN THE OFFICE OF THE COUNTY RECORDER OF SAID SAN DIEGO COUNTY
EXCEPTING THEREFROM ALL THAT PORTION LYING WITHIN CARLSBAD TRACT NO. 73-45, ACCORDING TO MAP THEREOF NO. 8033, FILED IN THE OFFICE OF SAID COUNTY RE- CORDER OCTOBER 23, 1974 AS FILE NO. 74-282025 OF OFFICIAL RECORDS
ALSO EXCEPTING THEREFROM ALL THAT PORTION MORE PARTICULARLY DESCRIBED AS FOLLOWS :
COMMENCING AT POINT NO. 18 AS SHOWN ON SAID MAP NO. 823; THENCE ALONG THE SOUTHERLY LINE OF SAID LOT' 'I'
1. NORTH 86'50'44'' WEST
2. NORTH OO"25'05" EAST
3. NORTH 23O17'58" WEST
4. NORTH 66'42'02'' FAST
5. EASTERLY
6. NORTH 88"12'02" EAST
1,172.76 FEET TO THE TRUE POINT OF BEGINNING
AND THE SOUTHEAST CORNER OF PAR- CEL 'A' AS DESCRIBED IN SAID CERTIFICATE OF COMPLIANCE RE-
NO. 1998-0223037 OF OFFICIAL CORDED APRIL 21, 1998 AS DOCUMENT
RECORDS; THENCE ALONG THE EAST-
ERLY LINE OF SAID LOT 'A'
663.79 FEET: THENCE
30.00 FEET; THENCE
40.97 FEET TO THE BEGINNING OF A NON-TANGENT
300.00 FOOT RADIUS CURVE CONCAVE
OF SAID CURVE SOUTHERLY: THENCE ALONG THE ARC
112.57 FEET THROUGH A CENTRAL ANGLE OF
21°30'00"; THENCE
94.81 FEET TO THE BEGINNING OF A NON-TANGENT
300.00 FOOT RADIUS CURVE CONCAVE
PAGE 1 OF 3
Order: u(P-l5-00025303 Description: 1998.550156 Page 5 of I1 Comment: CATHY
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18 i
19.
20.
21.
22.
23.
24.
25.
NORTHEASTERLY
NORTH 56'32' 23" WEST
NORTH 46'04'58'' WEST
NORTH 06'45'58'' WEST
NORTH 29'27'02" EAST
SOUTH 60O32'58" EAST
NORTH 29'27'02" EAST
NORTH 35'32'17" EAST
NORTH 64'00'24'' WEST
SOUTH 58°13'05'' WEST
NORTH 65'03' 51" WEST
NORTH 41*25'21" WEST
SOUTHWESTERLY
SOUTH 45"20' 12" WEST
SOUTHWESTERLY
SOUTH OO"57'40" WEST
SOUTH 68OJ.9'26'' WEST
SOUTH 12"09'33" WEST
SOUTH 12'29'18'' WEST
I !
7124 819 LEGf12246LL4.DX, 12/16/91 SH
NORTHWESTERLY; THENCE ALONG THE ARC OF SAID CURVE
286.62 FEET THROUGH A CENTRAL ANGLE OF
54°44'25"; THENCE
30.00 FEET; THENCE
459.10 FEET; THENCE
378.65 FEET; THENCE
30.00 FEET; THENCE
54.67 FEET; THENCE
30.00 FEET; THENCE
332.53 FEET; THENCE
1,07 3.8 5 FEET ; THENCE
267.32 FEET; THENCE
313.73 FEET; THENCE
238.13 FEE.T TO THE BEGINNING OF A NON-TANGENT
CAVE SOUTHEASTERLY, A RADIAL TO 1,951.00 FOOT RADIUS CURVE CON-
SAID BEGINNING BEARS NORTH
39'44'49'' WEST; THENCE ALONG THE
ARC OF SAID CURVE
167.41 FEET THROUGH A CENTRAL ANGLE OF
04°54159"; THENCE
,492.73 FEET TO THE BEGINNING OF A NON-TANGENT
CAVE SOUTHEASTERLY; THENCE ALONG 1,101.00 FOOT RADIUS CURVE CON-
THE ARC OF SAID CURVE
852.72 FEET THROUGH A CENTRAL ANGLE OF
44'22'32''; THENCE
222.80 FEET; THENCE
535.66 FEET; THENCE
248.90 FEET; THENCE
36.00 FEET; THENCE
PAGE 2 OF 3
Order: EXP-15-00025303 Description: 1998.550156 Page 6 Of 1 I Comment: CATHY
820 LEG/12246Lu\.OOC, 12/16/97 SH
26. SOUTH ll"22'17" EAST 42.37 FEET; THENCE
27. SOUTH 20'42'02" EAST 444.52 FEET: TO THE SOUTH LINE OF SAID
LOT 'I' ; THENCE
28. SOUTH 86'50'44" EAST 2,490.34 FEET TO THE TRUE POINT OF BEGINNING.
CONTAINS 204.525 ACRES MORE OR LESS.
~- EXPIRATION DATE 6/30/99
PAGE 3 OF 3
Order: u(P-15-00025303 Description: 1998.550156 Page 7of 11 Comment: CATHY
7126
82 1 LEGAL DEW?IPRON: Pmnm OF LOT 7' OF RANGIO ACOA HEMONDA,
IN THE WTY OF CARLSBAD. COUNTY 01F SAN WEGO, STA lE F CALIFi3WIA ACCORDING TO MAP IHEREF NO. 823.
ASESWS PAREL NO.3
OWER/AWUOVVT KELLY LAND WPAN): A DELAWARE WPO?An(m
2011 PALOMAR AIRPCRT RD. SUIT 206 CARLSBAD. CAUFCRNIA 92009
207-101-23 & 208-020-30, 38
PHWE (619) 931-1190
BAYS W REARING2 THE BASIS OF I4uIRINGS FO? lHlS DRA WNG IS WE ESlERLY LINE Cuc
EVANS POINC CARLSBAD lRACT NO. 91-3, MAP NO. 13189
1.E N 00'1 1'37' E """_
MQNER OF MAW (( )) PROSECT DESYGN CONSULTANE 0
SAN DIEGO, CALIFORNIA 92101 701 B STREET
PHONE (619) 255-6471 P. 0. c.
T.P.O.B.
r1
NO SCALE
LEGRVD
INDICATES ADvvsTEo PARCEL BOUNDARY UNE
WWCATES ADUVSTED LOT LINE TO RE REMOMD
INDICATES EMSllNG LOT UNE TO REMAIN
INDICATES RECORD DATA PER MAP NO. 13189
INMCATES REGiWD DATA PER R.O.S. 7958
INDICA 7Es RECORD DA TA PER MAP 823
tNMCA?ES POlNT OF COMMENEMENT
INMCAES RUE PaNT OF BEGINNING
DALE R. GREE~ REWSTRATlON EXPIKES 6/30/99 J LS. 5127
208-020-30, 38
1224ADJl.DwG
Order: EXP-15-00025303 Description: 1998,550156 Page 8 of I1 Comment: CATHY
AUGUST 17, 1973 AS F/p NO.
LAND LIEWED .W DEEO RE%.
73-231802 hc O.R. EXEPllNG 7HA T PLX?llGN L YlNG WHIN
UAP NO. 803.
EXHIBIT "8"
Order: EXP-15-00025303 Description: 1998.550156 Page 9 of 11 Comment: CATHY
lR0.B. PCL 'a' 1"
CURE LWTA RADIUS LENGIH
EXHIBIT 3"
glEEf3ff.3
ADJUSMENT PLA T-CIN ff CARLSAD B. ADJ. NO. 520
." .........
Order: EXP-15-00025303 Description: 1998.550156 Page 10 of I I Comment: CATHY
824
State of California )
County of San Diego ) 1
On 08/24/98 before me, Belinda R. Guzman, Notary Public, personally appeared Lloyd
Hubbs, proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the
or entity upon behalf of which the person acted, executed the instrument. same in his authorized capacity, and that by his signature on the instrument the person,
WITNESS my hand and officiai seal
I Signature of Notary U
(Thls area for
official notary seal)
Title or Type of Document Certificate of compliance for Adjustment Plat CE 848 ADJ 520
Date of Document 8-20-98 No. of Pages 1
Signer@) other than named above None
Kelly Ranch 208-20-30.38,207-101-23
Order: EXP-15-00025303 Description: 1998.550156 Page I I of I I Comment: CATHY
RECORDING REQUESTED BY: First American Title- SAN DIEGO Subdivision Mapping Dept.
WHEN RECORDED MAIL TO:
ooc # 2002-0206980
CITY OF CARLSBAD CITY CLERK’S OFFICE
ATTN: CITY CLERK
1200 CARLSBAD VILLAGE DRIVE
CARLSBAD, CA 92008
ORDERNo. 1156759-15
ADDENDUM NO. 2 TO AFFORDABLE HOUSING AGREEMENT
KELLY LAND COMPANY
THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
1
RECORDING REQUESTED BY AND WHEN RECORDED MAILTO:
."- 7131
City of Carlsbad City Clerk's Office Attn: City Clerk
Carlsbad, California 92008
1200 Carlsbad Village Drive
Above Space for Recorder's Use
ADDENDUM NO. 2 TO AFFORDABLE HOUSING AGREEMENT
KELLY LAND COMPANY
This Addendum is entered into as of the 13 day of February , 2002, amending
the affordable housing agreement imposing restrictions on real property, dated October 5. 1998 by and
between the CITY OF CARLSBAD, a municipal corporation, hereinafter referred to as "City", and KELLY LAND
COMPANY, a Delaware corporation, hereinafter referred to as "Kelly", and ARCHSTONE-SMITH OPERATING
TRUST a Maryland real estate investment trust, formerly known as Archstone Communities Trust, hereinafter
referred to as "Archstone".
I **
RECITALS
WHEREAS, the initial affordable housing agreement, dated October 5, 1998' set forth the
affordable housing requirements for the Kelly Ranch Project to be developed on Planning Areas D, G and H of
the Kelly Ranch Development; and whereas parties acknowledge that the Affordable Housing Units as set forth
in the initial affordable housing agreement will satisfy the inclusionary housing requirements for the Kelly Ranch
Project, as long as the aggregate number of dwelling units does not exceed eight hundred seventy-seven (877)
for the Kelly Ranch Project; and
WHEREAS, the initial affordable housing agreement, dated October 5, 1998, set forth security
provisions for development of affordable housing to satisfy the inclusionary housing requirements for Planning
Area E of the Kelly Ranch Project in order to allow the development of Planning Area E to proceed ahead of the
remaining Kelly Ranch Project; and
WHEREAS, due to delays in required entitlement approvals for the development of the Kelly and recorded concurrently hel;ewith
Ranch Project, Addendum No. 1 to the Affordable Housing Agreement, dated February 13, 2001,'granted
**and recorded on February 15, 2002 as document no. 2002-0135148 of Official Records**
1/30/02
Amendment #2 to Kelly Ranch Affordable Housing Agreement
Page 2 71 32
additional land security to the City to ensure the satisfaction of the inclusionary housing requirements for
Planning Area E of the Kelly Ranch Project: and
WHEREAS, the City of Carlsbad and the Kelly Land Company mutually desire to amend the
initial affordable housing agreement, dated October 5, 1998, and the subsequent Addendum, dated February
13, 2001, to extend the security provisions set forth within Section 2 of said agreement to allow Kelly additional
time in which to satisfy its inclusionary housing requirements for Planning Area E and to revise the total housing
unit count from 877 to 800 dwelling units; and
WHEREAS, Addendum No. 1, dated February 13, 2001, amended the initial affordable housing
agreement, dated October 5, 1998, to remove PTR Development Services Incorporated, which was affiliated
with Archstone Communities, as a developer party to said agreement; and
WHEREAS, Kelly Land Company has now requested that Archstone-Smith Operating Trust, a
Maryland real estate investment trust, be added as a developer party to said agreement and the City has
agreed to such addition.
NOW, THEREFORE, in consideration of these recitals and the mutual covenants contained
herein, City, Kelly and Archstone hereby agree as follows:
1. ARCHSTONE-SMITH OPERATING TRUST, a Maryland real estate investment trust, shall be
added as a developer party to the initial affordable housing agreement dated October 5, 1998 and the
Addendum date February 13, 2001. All references to Kelly Land Company shall now apply to both Kelly Land
Company and Archstone-Smith Operating Trust with approval of this amendment.
2.The period of time in which Kelly and/or Archstone shall accomplish certain matters as related
to the provision of the affordable units described in the initial affordable housing agreement dated October 5,
1998 which was subsequently amended on February 13, 2001, and for which the City shall hold the security
Area E within the Kelly Ranch Project, as set forth in Section 2 of the affordable housing agreement shall be (land and cash deposit or letter of credit) to ensure the construction of affordable units required for Planning
extended from December 31, 2001 to December 31, 2002. Kelly and/or Archstone is required to extend the
security of a cash deposit or letter of credit in the amount of $220,000, and any other applicable security
requirements, to December 31, 2002. At the sole discretion of the City, this deadline for accomplishment of
certain matters by Kelly and/or Archstone and time for which the City may hold the security to ensure the
construction of the affordable units may be extended six (6) months by written approval of the Community
Development Director.
7133
Amendment #2 to Kelly Ranch Affordable Housing Agreement
Page 3
3. The aggregate number of dwelling units to be constructed within the Kelly Ranch
Development has been reduced from 877, as indicated within the original Affordable Housing Agreement
entered into on October 5, 1998, to a total of 800 dwelling units, thereby reducing the fifteen percent (15%)
affordable housing construction requirement accordingly. The affordable housing units shall be constructed
within the project to be developed on Planning Areas D, G and H of the Kelly Ranch Development as indicated
within the original affordable housing agreement.
4.All other provisions of the aforementioned agreement entered into on October 5, 1998, by and
between City and Kelly and subsequent Addendum No. 1 entered into on February 13, 2001 shall remain in full
force and effect. Archstone shall assume all rights and responsibilities set forth within the initial agreement for
PTR Development Services, and shall be subject to the provisions of Addedum No. 1 that were applied to Kelly.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and
year first above written.
KELLY:
KELLY LAND COMPANY, a Delaware
corporation:,,
BY ,
Its
ARCHSTONE:
ARCHSTONE
CITY:
CITY OF CARLSBAD, a municipal
corporation of the State of California
Community Development Director
APPROVED AS TO FORM:
RONALD R. BALL. CITY AlTORNEY
(Proper notarial acknowledgment of execution by Kelly and Archstone must be attached. Chairman,
corporations. Otherwise, the corporation must attach a resolution certified by the secretary or assistant president or vice-president and secretary, assistant secretary, CFO or assistant treasurer must sign for
3
1 /30/02
71 34
Amendment #2 to Kelly Ranch Affordable Housing Agreement
Page 4
secretary under corporate seal empowering the officer@) signing to bind the corporation.)
4
1130102
71 3S
STATE OF CALIFORNIA)
U
O&, before me 4 ;fl& , personally appeared
and 5&& -5&d , personally known
to me'(or proved to me on the basis of satisfactory evidence) td be the person(s) whose
name(s) isiare subscribed to the within instrument and achow-ledged to me that
heisheithey executed the same in hisheritheir authorized capacity (ies), and that by
hisheritheir signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument.
WITNESS my hand ad official seal.
(SEAL)
STATE OF CALIFORNIA)
COUNTY OF % , \ ss.
1 U
and - , personally known
(D ,2002, before me r2, 0x4 , personally appeared
to me (or pkvedyJe2he basis of satisfactory evidence) to be the personHwhose
nameM is/@ subscribed to the within instrument and acknowledged to me that
he/sF/tpy executed the same in his/'I#r/thglr authorized capacity (&), and that by
his/h$/tI$ir signature$) on the instrument the perso , or the entity upon behalf of
which the person($ acted, executed the instrument. ;ksI
WITNESS my hand ad official seal.
(SEAL)