HomeMy WebLinkAboutAD 96-01; Shea Homes Limited Partnership; 1998-0725544; Assessment District Related Document.. *.
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
City of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, CA 92008
Attn: Ci-C, C\.ert<.
526 DOC2 1998-0725544
NOU 069 1998 12~14 PPI
(Space above for recorder's use only)
AGREEMENT FOR FILING OF FINAL MAPS WITHIN
ASSESSMENT DISTRICT NO. 96-1 (RANCHO CARRILLO)
This Agreement is made and entered into this $" day ofbbd, 1998,
by and between THE CITY OF CARLSBAD, a municipal corporation of the State of California
(the "City"), and SHEA HOMES LIMITED PARTNERSHIP. 3 California !irnied partnership
(the "Property Owner").
RECITALS
A. At the request of Property Owner's predecessor-in-interest, and for the
benefit of the property subject of this Agreement, the City is undertaking the formation of a
special assessment district under the terms and conditions of the "Municipal Improvement Act
of 1913" (the "1913 Act"), being Division 12 of the Streets and Highways Code of the State of
California, and the issuance of bonds pursuant to the "Improvement Bond Act of 1915" (the
"1915 Act"), being Division 10 of the Streets and Highways Code of the State of California, for
the acquisition of certain public improvements, together with appurtenances and appurtenant
work within the jurisdictional limits of the City, said special assessment district known and
designated as Assessment District No. 96-1 (Rancho Carrillo) (the "Assessment District").
B. Property Owner is the owner of certain real property (the "Property")
within the Assessment District, as described in Exhibit "A" attached hereto.
C. Upon formation of the Assessment District, assessments will be confirmed
with respect to the parcels of land within the Assessment District in accordance with a final
engineer's report for the Assessment District (the "Engineer's Report") prepared by Berryman
and Henigar (the "Assessment Engineer").
D. The Engineer's Report will identify an assessment ("Assessment") per
single-family detached residential lot ("Lot") anticipated to be developed within each of the
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fourteen (14) villages proposed to be developed with single-family detached housing within the
Assessment District (each, a “Village”). The Assessment Engineer’s determination of the
number of Lots within a Village shall be based upon approved tentative or final subdivision maps
at the time of confirmation of the Assessments, or in the absence of such maps, upon the
estimated number of “Adjusted Planned Equivalent Dwelling Units” for such Village set forth
in Exhibit 5 of the Engineer’s Report.
E. The City has approved final subdivision maps for Villages D, H, 0 and
Ql, tentative subdivision maps for Villages M, 42 and R3/Q4, and is currently processing
tentative subdivision maps for Villages E, F, G, K and P within the Assessment District.
F. The City’s policy with respect to the Assessment District is that,
notwithstanding any possible subsequent reductions in the number of Lots to be developed within
a Village, as a result of subdivision, the Assessments shall remain substantially equivalent to
[hose projected in the Engineer‘s Report. Therefore. i~ is the in[ent dr [his Agreement, in
conformance with such City policy, to ensure that at the time of filing of a final map with
respect to any Village, the actual assessment on each Lot resulting from the subdivision shall be
substantially equivalent to the Assessment described in the Engineer’s Report.
NOW, THEREFORE, for good and valuable consideration, the receipt of which
is hereby acknowledged. it is mutually agreed between the parties as follow<.
AGREEMENT
1. The above Recitals are all true and correct.
2. Prior to approval of each final map creating Lots upon which single-family detached dwelling units may be constructed and sold (a “Final Map”) within a Village, the
Assessment Engineer shall make a preliminary determination of the apportionment of
assessments to each Lot to be created by the Final Map in accordance with the method and
formula of assessment spread set forth in the Engineer’s Report, the provisions of Part 10.5 of
the 1915 Act and other applicable law (the “Preliminary Apportionment”). If the Preliminary
Apportionment indicates that the assessment per Lot upon filing of the Final Map (the
“Apportioned Assessment“) would exceed the Assessment per Lot identified in the Engineer’s
Report for the Village by more than 3 % , then prior to filing the Final Map, the Property Owners
shall, as a condition of approval of such Final Map, pay the amount (the “Prepayment Amount”)
required to reduce the Apportioned Assessment (the “Adjusted Apportioned Assessments”) to
an amount not greater than the Assessment for each Lot projected in the Engineer’s Report with
respect to such Lots. No Final Map shall be approved unless and until the Property Owner pays
the Prepayment Amount, if applicable.
The Prepayment Amount shall be calculated in accordance with Section 8766.5
of the 1915 Act and other applicable law as follows:
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(i) determine the difference between the sum of the Apportioned
Assessment on all Lots and the Adjusted Apportioned Assessment;
(ii) multiply the determined amount in (i) by the applicable redemption
premium on the bonds of the Assessment District (the "Bonds") at the next call date and
add the result to the amount determined in (i);
(iii) add to the result of (ii) an amount equal to interest accrued to the
next call date of the Bonds with respect to the amount in (i), which date shall be the next
Bond interest payment date after the date of prepayment;
(iv) add to the result of (iii) the amount of any delinquent installment
of principal and interest, together with penalties accrued, to the date of prepayment with
respect to the portion of the Assessment-District to which the Final Map applies and a
fee for the costs or' ndministering [he prepayment and the advance redemption of Bonds,
if any;
(v) to determine the Prepayment Amount, subtract from the result in
(iv) an amount equal to a credit for the reserve fund on the Bonds calculated in
accordance with Streets and Highways Code Section 8881.
Prepayment of the principal amount of the Assessment in increments of $5,000 or any portion
thereof shall be permitted in accordance with the Bond documents.
3. Upon payment of the Prepayment Amount pursuant to Section 2 above or
upon a prepayment of assessment pursuant to Section 3 above, the City shall issue a revised
auditor's record showing the proportionate reduction in assessment installments and thereafter
levy subsequent installments at the reduced rate. The City shall also modify the assessment roll
accordingly and record an addendum to the notice of assessment in accordance with applicable
law.
4. Property Owner hereby agrees to provide written notice to any subsequent
purchaser of all or any portion of the Property (other than the purchasers of homes) upon which
single-family detached dwelling units will be constructed advising such purchaser of the
existence of this Agreement and the condition of approval of each Final Map imposed pursuant
to Section 2 of this Agreement. In addition, Property Owner shall cause each such purchaser
to sign and deliver to the City a written assignment and assumption of obligations under this
Agreement in the form attached hereto as Exhibit "B". Such assignment and assumption
agreement shall not be effective until it is executed on behalf of the City by the City Manager
or his designee.
5. This Agreement shall terminate with respect to any Lot created by a Final
Map and such Lot shall be released and no longer be subject to this Agreement without the
execution or recordation of any further document upon filing of the Final Map and payment of
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the Prepayment Amount with respect to such Lot, if required. In addition, this Agreement shall
terminate upon the filing of Final Maps with respect to all of the Property.
6. The parties hereto intend that the Property Owner’s burdens and
obligations under numbered paragraph 2 above constitute a covenant running with the land and
that such covenant shall be binding on all transferees of the subject property.
7. This Agreement shall be binding on all of the Property Owner’s successors
and assigns.
8. This Agreement is executed by and between the parties hereto on the date
first hereinabove written.
ATTEST:
City Clerk
APPROVED AS TO FORM: SHEA HOMES LIMITED PARTNERSHIP,
a California limited partnership
: J.F. SHEA CO., INC., a Nevada
corporation, General Partner
BY. ** Its: Richard Gustafson, Asst. Secretary
By: I&: -e6k-, Asst. Secretary
Teri Shustermant
4 09-23-98 S: \ 172\97120012 .AG7
.. r”
State of California )
County of San Diego )
) S.S.
On October 6, 1998, before me, Susan L. Trimingham, Notary Public, personally appeared Richard
Gustafson and Teri Shusterman personally known to me to be the persons whose names are
subscribed to the within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the persons, or the entity upon
behalf of which the persons acted, executed the instrument.
WITNESS my hand and official seal.
531' '
EXHIBIT A
DESCRIPTION OF SUBJECT PROPERTY
THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA,
COUNTY OF SAN DIEGO, AND IS DESCRIBED AS FOLLOWS:
LOTS 1 THROUGH 45 AND 61 THROUGH 65 OF CARLSBAD TRACT NO. 93-01
RANCHO CARRILLO VILLAGE "J", IN THE CITY OF CARLSBAD, COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 13552, FILED
IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 31,
1998.
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5.32
EXHIBIT "B"
FORM OF ASSIGNMENT AND ASS1 JMPTTON AGREEMENT
[Attached]
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ASSIGNMENT AND ASSUMPTION AGREEMENT
Pursuant to an Agreement for Filing of Final Maps Within Assessment District
No. 96-1 (Rancho Carillo) dated , 1998 (the "Agreement") between the CITY
OF CARLSBAD ("City") and [Shea Homes], a ("Assignor"), which
Agreement is hereby incorporated herein by this reference, and for good and valuable
consideration, receipt of which is hereby acknowledged, the undersigned agree as follows:
*
1. The assignment and assumption provided for under this Assignment and
Assumption Agreement ( l1 Assignment") is made together with the sale, transfer or assignment
of all or a part of the property subject to the Agreement. The property sold, transferred or
assigned together with this Assignment is described in Exhibit "A" attached hereto and
incorporated herein by this reference (the "Subject Property ") .
2, Assignor hereby grants, sells, transfers. conveys assigns and delegates to
("Assignee") all of Assignor's rights, title, interest,
benefits, privileges, duties and obligations arising under or from the Agreement with respect to
the Subject Property.
3. Assignee hereby accepts the foregoing assignment and unconditionally
assumes and agrees to perform all of the duties and obligations of Assignor arising under or
from the Agreement as owner of the Subject Property and Assignor is hereby released from all
such duties and obligations.
4. The sale, transfer or assignment of the Subject Property and the assignment
and assumption provided for under this Assignment are the subject of additional agreements
between Assignor and Assignee. Notwithstanding any term, condition or provision of such
additional agreements, the rights of the City arising under or from the Agreement and this
Assignment shall not be affected, diminished or defeated in any way, except upon the express
written agreement of the City.
5. Assignor and Assignee execute this Assignment pursuant to Section 4 of
the Agreement, and the City evidences its consent to this Assignment by signing below.
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IN WITNESS WHEREOF, the parties have executed this Assignment on
The City hereby consents to this
Assignment.
ASSIGNOR:
SHEA HOMES LIMITED PARTNERSHIP, a
California limited partnership
By: J.F. SHEA CO., INC., a Nevada
corporation, General Partner
By:
Its:
By:
Its:
ASSIGNEE:
By:
Name:
Title:
CITY:
CITY OF CARLSBAD
APPROVED AS TO FORM:
City Attorney
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By:
Its: City Manager
B-2