HomeMy WebLinkAboutAD 96-01; Continental Ranch Inc; 1998-0725543; Disclosure AgreementRECORDING REQUESTEU BY
WIEEN RECORDED MAIL TO:
(g City of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, CA 92008 \&? Attn: chy.C\& k .-
NOU 069 1998 l2:14 PM
SPECIAL ASSESSMENT DISTRICT
DISCLOSURE AGREEMENT
THIS AGREEMENT entered into as of thi - day o 0 &&98 by and between the City
of Carlsbad, a municipal corporation (“City,”) and Continental Ranch, Inc., a Delaware Corporation
(“Developer”).
WHEREAS, Developer or its predecessor in interest has petitioned the City Council of the City to
initiate and the City has initiated proceedings for the formation of a special assessment district
pursuant to the terms and provisions of the “Municipal Improvement Act of 19 13”, being Division
12 of the Streets and Highways Code of the State of California, said special assessment district
known and designated as ASSESSMENT DISTRICT NO 96- 1 (RANCHO CARRILLO) (hereinafter
referred to as the “Assessment District”); and
WHEREAS, the City has adopted policies relating to the utilization of Assessment District
financing which require Developer to extinguish the lien on any parcel created as a result of the
confirmation of the Assessment District prior to the close of escrow on the sale of such parcel to a
residential home buyer unless Developer shall have provided full disclosure of the existence of the
assessment lien, the amount thereof, the annual assessment installments, the duration of the
assessment lien and such other information as may be required by the City, and has provided the
residential home buyer with the option to (a) take title subject to the applicable Assessment District
special assessment against their parcel, or (b) require the special assessment obligation to be
discharged prior to the close of such escrow; and
WHEREAS, the parties hereto have entered into this Disclosure Agreement to establish the terms
and conditions which must be satisfied by Developer should it desire to allow residential home
buyers to take title subject to the assessment obligation established for any parcel or parcels within
the Assessment District.
NOW, THEREFORE, IT IS MUTUALLY AGREED BY AND BETWEEN THE PARTIES AS
FOLLOWS:
SECTION 1. The above recitals are all true and correct.
SECTION 2. Developer owns property proposed to be subject to assessment obligations
within the boundaries of the Assessment District. Developer’s property is described
and set forth in the attached, referenced and incorporated Exhibit “A”.
SECTION 3. The escrow for the sale to any residential home buyer of any lot or parcel,
including condominium unit, within the Assessment District shall not close or title to
1
b .. ’ .. . 513 such parcel be Perwise conveyed to such residential liolbuyer without first
causing the asse,,ment lien created as a result of the confirmation of the Assessment . District, if any, on such parcel to be extinguished except as provided for herein
below.
An assessment lien on a parcel within the Assessment District proposed to be sold to a residential home buyer need not be extinguished prior to the close of the escrow for
the sale or other conveyance to such residential home buyer if Developer shall have
given the residential home buyer a copy of the Notice of Special Assessment and
Payment Option Election, the form of which is attached hereto as Exhibit “B” and
incorporated herein by this reference and such notice shall have been duly executed
by the residential home buyer or buyers and deposited into escrow.
SECTION 4. DeveIoper shall incorporate the amount of assessment lien into the advertised
sales price of the home and clearly disclose the pass-through option in any sales
literature. Sales literature for this purpose shall not be deemed to include media
advertising, billboards, signs or other like advertisements. In addition, notice of the
assessment in a form similar to Exhibit “C” shall be prominently displayed in all
sales offices offering units for sale that are subject to the Assessment District lien.
SECTION 5. This obligation shall be binding on all heirs, assigns or successors-in-interest
of the parties hereto, and the City shall cause a copy of this Agreement to be
recorded in the Office of the County Recorder upon its execution.
SECTION 6. Developer shall indemnify and hold harmless the City of Carlsbad from any
claims arising out of Developer’s failure to adequately perform under the provisions
of this Agreement.
IN WITXESS WHEREOF, the parties hereto have executed this Agreement on the 5th day of
October , 199s.
CITY OF CARLSBAD
Mayor
ATTEST:
CONTINENTAL RANCH, INC., a
Delaware Corporation
By:
Christopher Clhilrnbers President
By: d*
David mther
President /3.
By: David mther
Vice President
Aletha L. Rautenkranz City Clerk
2
,. ‘. . P 514
State of California
County of San Diego
On October 26, 1998 before me, Nancy A. Nemg~, Notary Pubh , personally appeared
David A. J,o-d Cwher Cm, 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.
P,
&cy A. Nemec, Notary Public
Description of Attached Document:
Title or Type of Document: ..
Document Date: Undated Number of Pages: 13
Capacity(ies) Claimed by Signers:
Signer’s Name: David A. J,o&r Signer’s Name: Chris Chambers
Title: Vice President Title: Pr-t
Representing: Co- Representing: Co-
EXHIBIT A
A
DESCNPTION OF SUBJECT PROPERTY
.. 516 .r7
RICKENGI"GW%NY 3620 Friars Road rAj . SanDirgo
California 92 110-2596
(619)291-0707
Legal Description
J-i 2987
RANCHO CARRILLO, EXCLUDING PARK SITES,
SCHOOL SITE AND PORTIONS OF VILLAGE "J"
By: RBljb.002
TC Ref.
co.
Order No.
Date
Oescr.
Rev. By
Date: September 29, 1998
Page 1 of 6
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 Bemardino 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. 91 12 on file
in the Ofice 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
67O43'22" 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 Northeriy 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 cuwe 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 cume 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 74'1 2'34"
East 454.40 feet to the beginning of a tangent 3000.00 foot radius curve concave
Southeastedy; thence Northeasterly along the arc of said cuwe through a central angle of
00°52'58" a distance of 46.22 feet to a point on the Easterly boundary line of said Record
RE103 4/89
..
I, f- 517 ,-7
RICK ENGINEERING COMPANY 5620 Friars Road
SanDiego 'L-A Ca1ifornia92110-ZS96
(619)291-0707
Legal Description
J-12987
RANCHO CARRILLO, EXCLUDING PARK SITES,
SCHOOL SITE AND PORTIONS OF VILLAGE "J"
By: RWjb.002
Date: September 29, 1998
Page 2 of 6
TC Ref.
CO.
Order No.
Date
Descr.
Rev. By
of Survey No. 91 12; thence leaving said centerline and Southerly, Westerly and Northerly
along the boundary lines of said Record of Survey the following courses: South OO"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 cuwe through a central angle of 01 "44'50" a distance of 27.45 feet;
thence North 73"lO'OO" 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
21 5.46 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 arc 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:
[Existina Park Site 1)
Commencing at the Southeast corner of said Record of Survey No. 91 12; thence North
RE103 4/89
I,. /4\
518
RICKENGNEERINGCOMPANY 5620 Friars Road VAT. San Diego L-A California 921 10-2596
(619)291-0707
Legal Description
J-12987
RANCHO CARRILLO, EXCLUDING PARK SITES,
SCHOOL SITE AND PORTIONS OF VILLAGE "J"
By: RWjb.002
Date: September 29, 1998
Page 3 of 6
TC Ret.
co.
Order No.
Date
Dhlcr.
Rev. By
00'07'39" East along the Easterly line thereof 1335.81 feet; thence leaving said Easterly
line North 89'46'1 1" West 1308.84 feet; thence North 00°21'00" East 1398.14 feet; thence
North 89'39'00" West 542.1 1 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 FilelPage
77-068081 ; thence along said document the following courses: South 36'1 5'49" 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 85'50'40" East
240.49 feet to the TRUE POINT OF BEGINNING.
JExistina Park Site a
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
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 21 4.03 feet to said Southeasterly line; thence along said
Southeasterly line South 04'09'20" East 122.00 feet to the Point of Beginning.
RE103 4/89 -
I. 519
RICKENGI"Gc0MpANy 5620 Friars Road . SanDirgo L-J California 92110-2596
(6t9wwm7
Legal Description
TC Ref.
J-12987
RANCHO CARRILLO, EXCLUDING PARK SITES,
SCHOOL SITE AND PORTIONS OF VILLAGE "J"
Co.
Order No.
Data
Dalcr.
I Rw. By By: RWjb.002 I
Date: September 29, 1998
Page 4 of 6
/Lot 11 1. Carlsbad Tract No. 93-04. Villaae "Q". Phase 1. Park Site)
Lot 11 1 of 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 Map No. 13551 on file in
the Office of the San Diego County Recorder.
(Prooosed 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 Parcet 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 38'58'1 2" East 19.32 feet; thence South 55'32'56'' West
143.45 feet; thence South 48O54'47" West 15 1.28 feet; thence South 44'27'1 7"
West 104.02 feet; thence South 56'30'35" West 147.1 7 feet; thence North
74'13'36'' West 146.41 feet; thence North 84'1 1'15" West 218.1 1 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 1 25 .OO foot radius curve concave Northerly; thence Westerly
RICKENGI"GCOMPANY 5620 friars Road
. ~~~~192110-ZS96
(619)291-0707
Legal Description
J-12987
RANCHO CARRILLO, EXCLUDING PARK SITES,
SCHOOL SITE AND PORTIONS OF VILLAGE "J"
By: RBljb.002
Date: September 29, 1998
Page 5 of 6
TC Rd.
co.
Order No.
Date
Dew.
Rev. By
along the arc of said curve through a central angle of 51 '48'28" a distance of 1 13.03
feet; thence North 68'01 '1 2" 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
76'22'1 2" West 45.1 3 feet; thence North 87'28'01 " West 41.1 8 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 145 1 .OO foot radius curve concave Northwesterly; thence
Northeasterly along the arc of said curve through a central angle of 30'05'48" a
distance of 762.1 9 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 '1 2'1 6" 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 .OO 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 21 49.00 foot radius curve concave Southeasterly; thence Northeasterly
along the arc of said curve through a central angle of OO"54'1 1 " a distance of 33.87
feet; thence North 33O41'13" 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 91O53'02" a distance of 40.09 feet; thence South
46'49'56" East 31.87 feet; thence South 53'32'41 'I 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"
RE103 4/89
-. . '. .. 5 2.4 I
RIC.KE"EERINGWM 5620 Friars Road
' :::2192110-2596
(6 19129 1-0707
Legal Description
J-12987
RANCHO CARRILLO, EXCLUDING PARK SITES,
SCHOOL SITE AND PORTIONS OF VILLAGE "J"
By: RB/jb.002
Date: September 29, 1998
Page 6 of 6
TC Ref.
Ca.
Order No.
oat.
Oarcr.
Rw. By
a distance of 555.71 feet; thence South 50'32'05" West 59.84 feet to the TRUE
POINT OF BEGINNING.
JVillaae "J". Lots 1 throuah 45 & Lots 61 throuah 651
Lots 1 through 45 and Lots 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 the map thereof No. 13552 on file in the Office of the San Diego County
Recorder.
jb112987.002
EXHIBIT B
(SAMPLE - FOR ILLUSTRATION PURPOSES ONLY)
NOTICE OF SPECIAL ASSESSMENT
AND PAYMENT OPTION ELECTION
(Supplement to Escrow Instructions)
THE PROPERTY WHICH BUYER IS PURCHASING IS SUBJECT TO A
SIGNIFICANT ASSESSMENT WHICH IS IN ADDITION TO REGULAR PROPERTY
TAXES. THIS ASSESSMENT WILL AFFECT THE AMOUNT WHICH BUYER WILL
BE REQUIRED TO PAY IN THE PURCHASE OF BUYER'S PROPERTY. YOU ARE
URGED TO READ THIS NOTICE VERY CAREFULLY IN ORDER TO
UNDERSTAND THE ASSESSMENT AGAINST THE PROPERTY.
Name(s) of Buyer:
Address of Property:
Escrow Company:
The escrow instructions relating to the sale and purchase of the above described property
(the "Property") are supplemented by the following as set forth herein.
ASSESSMENT INFORMATION
The City of Carlsbad ("City") has formed a special assessment district pursuant to the
provisions of the "Municipal Improvement Act of 1913" to finance the acquisition or
construction of certain public works of improvement which will benefit the properties within
the assessment district. This assessment district is known and designated as ASSESSMENT
DISTRICT NO. 96-1 (Rancho Carrillo) (the "Assessment District").
The public improvements to be financed through the Assessment District include:
0 Roadway improvements to Melrose Drive generally consisting of relocation of
sewer mains, grading and paving of streets, installation of curbs, gutters,
sidewalks , guardrail, signing and striping, storm drainage facilities, water,
sewer and reclaimed water mains, riparian mitigation, landscaping of medians,
parkways and adjacent slopes and other appurtenant works;
0 Roadway improvements to the intersection of Melrose Drive and Palomar
Airport Road generally consisting of left-turn pockets, acceleration and
deceleration lanes and median break; and
Bonds in the amount of $
above-described improvements. The bonds are secured by the assessments levied on property
have been issued to finance the construction of the
3
23
within the Assessment District. The Property which you are purchasing is located within the
boundaries of the Assessment District.
The City has determined that the Property will receive a direct and special benefit from the
improvements to be financed through the Assessment District and has levied an assessment
against the Property in the total amount of $
is secured by a lien much like a home loan is secured by a deed of trust. When you purchase
the Property, you will be solely responsible for the payment of the assessment. Prior to the
close of escrow, you have the option to either (a) pay off the assessment obligation in semi-
annual installments ("Option (a)") or (b) pay the entire assessment obligation at the close of
escrow on the sale of the Property ("Option (b)").
. The assessment against the Property
If you elect Option (a) the assessment on the Property will be collected in annual installments
which will be included in the property tax bill for the Property. The annual installments are
estimated to be $ years.
In the event you elect Option (b), the amount required to pay the assessment will be determined
at the close of escrow.
per year to be collected for a maximum period of
FAILURE TO PAY
Should you fail to pay an assessment installment when due, the City may be required to initiate
judicial foreclosure proceedings against the Property in order to recover any delinquent
assessment installments and the penalties which may be imposed for such a delinquency. In
the event that the City is able to obtain a favorable court ruling in such foreclosure
proceedings, the Property would be subject to foreclosure sale.
Should you have any questions regarding this Notice, please call NBS Government Finance
Group (the District Administrator) at 1-800-676-7516 or the Finance Department of the City
of Carlsbad at (760) 434-2867.
PLEASE INSURE THAT YOU HAVE THOROUGHLY READ AND UNDERSTAND
THIS NOTICE BEFORE YOU PURCHASE THE PROPERTY.
___________-_------------
RECEIPT, ACKNOWLEDGMENT AND OPTION ELECTION
By signing this Notice, Buyer acknowledges that:
1.
2.
The Property that Buyer is purchasing is located within the boundaries of the
Assessment District and is subject to a significant assessment against the Property.
Buyer has had an opportunity to read and review this Notice, and has received a copy
of this Notice prior to opening escrow for the purchase of the Property, or, if received
after the opening of such escrow, with sufficient time for Buyer to make any reasonable
inquiries that Buyer deems necessary regarding the assessment against the Property
prior to the close of escrow.
4
I * .. : -524
3. Buyer hereby elects the following option (check one):
(a) pay the assessment in annual installments estimated to be $ per year.
(b) pay the entire assessment at one time at the close of escrow for the Property. The
amount will be determined in escrow.
4. If Buyer elects Option (a), Buyer assumes the assessment against the Property, and will
be solely responsible for the payment of such assessment and Seller shall have no
liability for such payment. Further Buyer agrees to the amount and purpose of the
assessment on the Property and that Buyer forever waives any right of complaint or
protest to the City pertaining to the nature, extent, duration and amount of the
assessment against the Property. Notwithstanding Buyer’s election of Option (a) at this
time, Buyer may pay the entire assessment at any time in the future if Buyer so
chooses.
BUYER:
Name (Please Print) Signature Date
Name (Please Print) Signature Date
A COPY OF THIS EXECUTED NOTICE OF SPECIAL ASSESSMENT SHALL BE
PROVIDED TO THE FINANCE DIRECTOR OF THE CITY AT THE CLOSE OF
ESCROW.
Please mail executed copy to: Finance Director
City of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, CA 92008
5
*' SEP-80-98 WED 13 : 44 CITY OLCARLSBAD FINANCE FAX NO, 76043444 < . P.02.. ..
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NOTICE OF SPECIAL TAXE S.AND
ASSESSMENTS
*1 ..
The homes being sold in [name of develon ment) are within
Unified School District Community Facilities District NO. 5
are subject to special taxes and an assessment lien. "his may -
.
Carlsbad Assessment District No. 96-i and the San Marcos
require .the homeowner to make semi-annual payments over a. *,. ..
tee ofup to 30 years.. The payments are made at.the same time ...... .'. . , and in the same manher as your property taxes. More '..' :
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a ikbmaticm can be found.in the Notice of Specid Assessrnerg
and Payment Option Election foA-andthe Notice of Special . * '
Tax, both of which must be read and signed prior to purchasing
a (name of development) home. Your sales representative will
provide a copy of these notices and is available to answer. *
.I .. .. .. .. ...... ....
, .,' . questions.
. .. .. .. ..
.....
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