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AGREEMENT FOR FORWARD FUNDING, MITIGATION AND REIMBURSEMENT FOR PUBLIC FACILITIES
(POINSETTIA I-5 OVERPASS)
This Agreement for Forward Funding, Mitigation and Reimbursemen or Public Facilities ("Agreement") is entered into as of &z, 1991 (the "Effective Date"), by and between the following:
Zone 19 Owners including: Aviara Land Associates Limited Partnership, a Delaware limited partnership ("Aviara");
said owner being sometimes referred to as "Owner": and
CITY OF CARLSBAD, a municipal corporation ("City"), with respect to the recitals set forth in Section 1 below:
SECTION 1. Recitals and Certain Definitions
1.1 Definitions. As used in this Agreement and in any exhibits hereto, the following terms shall have the meanings indicated:
1.1.1 ED. "ED" means the environmental document referred to in the Cooperative Agreement.
1.1.2 PR. "PR" means the project report identified in the Cooperative Agreement.
1.1.3 Project Documents. "Project Documents" means collectively the PR, the ED, the PS&E and any other report, document, study, plan, specification, estimate or permit required pursuant to the Cooperative Agreement.
1.1.4 PStE. "PS&E" means the plans, specifications and estimate identified in the Cooperative Agreement.
1.1.5 Scope of Work. "Scope of Work" means the scope of work attached to the Cooperative Agreement.
1.1.6 Section I. IlSection 1" means Section I of the Cooperative Agreement.
1.1.7 Section I Oblisations. "Section I Obligations" means the obligations of City to State pursuant to Section I.
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1.1.8 Work. ttWorktt means all work, studies and analyses incident to preparation to any Project Documents required pursuant to the Section I Obligations and/or the Scope of Work.
1.2 Aviara Proiect. Aviara is the developer of certain real property located in the City of Carlsbad (ltAviaratt) which is the subject of certain development approvals received from the City of Carlsbad including without limitation: The Master Plan approved by City on December 22, 1987, Resolution No. 9322 and Ordinance No. 9839, as amended: and final subdivision maps for the first phase portion of the Aviara Project, which final maps were recorded in the Official Records of San Diego County on June 29, 1989. Application is pending with City for subdivision map or maps for the second phase.
1.3 Facilities Manasement Plans. On July 1, 1986, the City Council adopted, as Ordinance 9810, a Growth Management Program for the City (Chapter 21.90 of the Carlsbad Municipal Code, hereinafter the ltProgramtt). The purpose of the Program is to ensure that an adequate level of public facilities and services will be provided prior to or concurrently with development. The Program is based on a three-tiered planning approach. First, a City-wide Facilities and Improvement Plan identifies buildout public facility needs (ttPlantt). Second, a Local Facilities Management Plan for each of the City's twenty- five management zones shows how the development of these zones will comply with the Plan (respectively, a ttZone Plan"). Third, individual project approvals must include the public facilities required for such project by the Plan and the Zone Plan.
On September 23, 1986, the City Council adopted Resolution No. 8797 approving the Plan. The City Council also adopted Resolution No. 8796 which established the specific public facility performance standards to be used in the implementation of the Program.
By applicable law, City has divided the city into a series of twenty-five zones for the purposes of focusing upon local facilities (the respective zones for this purpose are numbered consecutively, and referred to herein as ttZonestt or, individually, as a ltZonett). City has required the adoption of a Zone Plan for each such Zone.
1.4 The Zone Plans. As a part of the Zone Plans, the City requires assurance as to the completion of various improvements. These requirements are conditions of the Zone Plans and to development of properties within the Zone.
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Zone 19: On December 22, 1987, City Council adopted Resolution No. 9322 approving the Zone Plan for Zone 19 (the ttZone 19 Plan").
1.5 The Proiect. Among the facilities required as conditions of development within Zones 4, 9, 19, 20 and 22 are state highway improvements consisting of widening the over- crossing and its approaches, signalizing the ramp termini, widening and metering the entrance ramps and other necessary matters related thereto on Interstate Route 5 at Poinsettia Lane (hereinafter the ltProjecttt).
1.6 Coonerative Aareement. Prior to the execution of this Agreement, City and the State of California, acting by and through its Department of Transportation (ttStatetl), have entered into a Cooperative Agreement (Agreement No. 11-0429) pursuant to Section 130 of the California Streets and Highways Code concerning the Project (the ItCooperative Agreement"). The Cooperative Agreement obligates the City to fund one hundred percent (100%) of all preliminary and design engineering costs, including but not limited to costs for preparation of contract documents and advertising and awarding a construction contract for the Project, except the costs of State's oversight of the environmental, design and right-of-way activities which may be borne by the State.
1.7 Proiect Documents. Pursuant to the Cooperative Agreement, City is obligated to have a Project Report (PR), Environmental Document (ED), and detailed Plans, Specifications and Estimate (PS&E) prepared at no cost to State and to submit each to State for review and approval at appropriate stages of development.
1.8 Intentions of the Parties. City desires to perform the Work contemplated by the Cooperative Agreement and to proceed with construction of the Project pursuant to a separate and future cooperative agreement with State. City is contemplating the possible adoption of a Community Facilities District for the financing of a variety of public facilities throughout the City, including without limitation the Project, but the enactment of such a district and the timetable for its enactment cannot be assured. Aviara desires to proceed with development of the second phase of its property, and is therefore willing to provide the City with certain financial assurances for funds necessary for performance of the City's obligations under the Cooperative Agreement. The parties intend to provide in this Agreement for: (i) cooperative assurance as to funding for the scope of Work specified in the Cooperative Agreement, in such manner as will satisfy the requirement of the respective Zone Plans with regard to such assurance for the Project to the satisfaction of City,
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(ii) provide a means for partial or full reimbursement to Aviara from City in certain circumstances.
NOW THEREFORE, in light of the recitals set forth in Section 1 (which the parties agree are true), and the mutual promises contained herein, the parties agree as follows:
SECTION 2. Assurance of Project bv Cash and Securitv Instrument
2.1 Cost of Proiect. Based upon a project study report prepared for City by CalTrans, dated April, 1990, and approved by State on April 3, 1990, City estimates that it will require the sum of up to NINE HUNDRED THIRTEEN THOUSAND DOLLARS ($913,000.00) to fund the preparation of the PR, the ED and the PS&E pursuant to the Section I Obligations ("Pre-construction Cost") .
2.2 Advance Fundina of Section I Obliaations. Aviara shall advance to City funds in cash to cover the Pre- construction Costs (the "Cash AdvanceIf) using one of the following two alternatives: (i) the full amount of the Cash Advance all at once deposited on or before seven (7) days after execution of this Agreement by City based upon approval hereof by the City Council (the "First Deposit Date"), in such account with City as City shall direct; or (ii) an initial deposit of $450,000.00 as a portion of the Cash Advance to be deposited on or before the First Deposit Date, in such account with the City as City shall direct, with the balance of the Cash Advance to be likewise deposited by Aviara in cash in accordance with the following schedule specified by City for the purpose of assuring that cash funds are on hand to cover the expenditures authorized under Section 2.3 in a timely fashion:
Date Due Amount Due
3 months after First Deposit Date $154,000.00
6 months after First Deposit Date $154,000.00
9 months after First Deposit Date Balance due
Aviara shall be entitled to elect as between alternatives (i) and (ii), provided that the right of Aviara to elect alterative (ii) shall be on condition that Aviara shall deliver to City with the initial deposit one or more letters of credit in the aggregate amount of the Cash Advance less the initial cash deposit (the "Letters of Credit"). Said Letters of Credit shall secure the obligation of Aviara to provide the balance of the Cash Advance upon two (2) weeks advance written notice from the City Engineer. No other documents shall be
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necessary in order to obtain funds under the Letters of Credit. Said Letters of Credit shall be in a form acceptable to the City Attorney and shall be issued by a financial institute acceptable to the City's Finance Director. Said Letters of Credit shall be so structured that City may draw against them as needed to pay invoices from time to time on a timely basis for expenses incurred by City in fulfilling its obligations in preparation of the PR, the ED and the PS&E pursuant to the Section I Obligation.
2.3 Expenditure of Funds. City shall be entitled to expend monies from the Cash Advance for expenses incurred by City in preparation of the PR, the ED and the PS&E pursuant to the Section I Obligations.
SECTION 3. Citv Reimbursement
3.1 Reimbursement. City shall reimburse Aviara for .advance funding of Pre-construction Cost up to the full amount thereof actually paid by Aviara (the ttReimbursement AmountIt). The City's general fund is not obligated for these payments. This Agreement shall not relieve Aviara from any obligation otherwise imposed by City for or with respect to facilities other than the Project. This Agreement shall not relieve Aviara from any obligation otherwise imposed by City with respect to fees for the bridge and thoroughfare district which includes the Project in addition to the interchanges of Interstate Route 5 with La Costa Avenue and with Palomar Airport Road (the "BTD Fees").
3.2 Reimbursement from Develoner Fees. Such reimbursement shall come from BTD Fees collected by City and allocated to the Project. However, City shall not be obligated to make such reimbursement until the BTD Fees collected and allocated to the Project equals or exceeds the Reimbursement Amount. Aviara understands that City intends to allocate BTD Fees to the Project only after first allocating such funds to the construction of the interchanges of Interstate Route 5 with La Costa Avenue and with Palomar Airport Road.
3.3 Public Facilities Districts. In the event that City forms an Assessment District or a Community Facilities District, of any sort, for the purpose of financing public facilities which facilities include (among other things) the Project, then upon the formation thereof and the sale of bonds for the financing of this Project by the district. City shall, from the proceeds of such bond sales, promptly reimburse Aviara up to the full amount of all the Reimbursement Amount. In the event the district is designed to provide funding for more than this project, City shall determine the allocation of bond proceeds among the various projects to be funded.
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SECTION 4. Authorized Renresentatives
4.1 Selection and Renlacement. City and Aviara shall each designate a single individual as their respective authorized representative (an ltAuthorized Representativen) for all purposes of this Agreement. Initially the Authorized Representatives of City and Aviara shall be:
CITY:
Lloyd Hubbs, City Engineer
Aviara:
D.L. Clemens
,Either party may, upon not less than ten (10) days advanced written notice to the other party, designate a different Authorized Representative.
4.2 Aviara's Authorized Renresentative. The Authorized Representative of Aviara shall have the following obligations on behalf of Aviara:
4.2.1 To act as the agent of Aviara in all matters relating to the Work in this Agreement, including without limitation attendance and participation in all meetings with City and State regarding any aspect of the Work.
4.2.2 To make, execute and otherwise communicate and deliver all judgments, decisions, consents, notices or comments on behalf of Aviara concerning the Work or this Agreement.
4.2.3 To deal with the City with respect to, and to receive from City on behalf of Aviara, any and all reimbursements to which Aviara are entitled hereunder.
4.3 Citv Authorized Renresentative. The Authorized Representative of City shall on behalf of City:
4.3.1 Act as the agent of City in all pertaining to the Work in this Agreement and the Agreement.
matters Cooperative
4.3.2 Establish and coordinate the activities of a project development team on behalf of the Project, and to include the Authorized Representative of Aviara on the distribution list for reports, plans, agenda packages and correspondence for the Project and afford such Authorized
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Representative the opportunity to attend Project related meetings.
SECTION 5. City Participation
5.1 No Assurances bv City. The parties recognize that the City is not obligated to make developmental assurances or to expedite the development approval process as a result of the Aviara assurances made under this Agreement.
5.2 Satisfaction of Reouirements. The City recognizes that this Agreement partially fulfills the obligations of Aviara under the Zone 19 Plan and financing plans for the assurance of the completion of the Project. The assurances made by Aviara are in conformance with the requirements and conditions of the financing plan and circulation element subsections of the Zone 19 Plan as they relate to the Project.
5.3 City as Proiect Manaser. The City will manage and oversee the preconstruction phase of the Project. The City will follow the Scope of Work. City shall obtain any necessary permits and approvals pertaining to the Project, including without limitation any necessary permits from the California Coastal Commission.
SECTION 6. Notices
6.1 Notices. Unless otherwise specifically provided in this Agreement, all notices, demands or other communications given hereunder will be in writing and will be deemed to have been duly delivered upon personal delivery or as of the second business day after mailing by United States mail, return receipt requested, postage prepaid and addressed as follows:
If to Aviara, then to:
D.L. Clemens Hillman Properties West, Inc. 2011 Palomar Airport Road Suite 206 Carlsbad, California 92008
With a copy to:
Sheppard, Mullin, Richter & Hampton 501 West Broadway, 19th Floor San Diego, California 92101 Attn: Christopher B. Neils
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If to City of Carlsbad, to:
City Manager City of Carlsbad City Hall 1200 Elm Avenue Carlsbad, California 92008
or to such other address as any party will designate to the others for such purpose in the manner set forth above.
SECTION 7. General Provisions
7.1 Authority of Individuals Sianina on Behalf of Corooration. Each person signing this Agreement on behalf of the corporation constituting any party warrants that (i) he or she is duly authorized to sign and delivery this Agreement on behalf of the corporation, in accordance with a duly adopted resolution of the board of directors of the corporation or in accordance with the bylaws of the corporation, and (ii) this Agreement is binding upon the corporation in accordance with its terms.
7.2 Authoritv of Individuals Sianina on Behalf of Partnership. Each individual signing this Agreement on behalf of the partnership constituting either party warrants that (i) he or she is duly authorized to sign and deliver this Agreement on behalf of the partnership, in accordance with the provisions of an agreement of partnership for the partnership currently in effect and (ii) this Agreement is binding upon the partnership in accordance with its terms.
7.3 Joint and Several Liabilitv. If either party consists of more than one person, the liability of each person signing this Agreement will be joint and several.
7.4 Captions. Captions in this Agreement are inserted for convenience of references only and do not define, described or limit the scope or the intent of this Agreement.
7.5 Exhibits. All exhibits referred to in this Agreement are attached to, and are a part of, this Agreement.
7.6 Entire Aareement. This Agreement and the documents referred to herein contain the entire agreement between the parties relating to the transactions contemplated hereby and all prior or contemporaneous agreements, understandings, representations and statements, oral or written, are merged into this Agreement. This Agreement shall not be effective until executed by all parties hereto.
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. 7.7 Modification or Amendment. No modification, waiver or discharqe of this Aqreement will be valid unless it is in writing and signed by the party against which the enforcement of the modification, waiver or discharge is or may be sought. An amendment to this Agreement which provides for the addition of a new participant shall provide that all terms and conditions of this Agreement remain enforceable, and that the new participant shall be bound by the terms of this Agreement.
7.8 Severance. If any provision(s) hereof is or are held by a court of competent jurisdiction to be illegal or unenforceable, such holding will not affect the remainder of this Agreement and each and every provision of said remainder will be enforceable according to its tenor; provided, however, if any illegal or unenforceable provision sets forth consideration for an act described in a legal and enforceable provision, the performance of such act will be excused.
7.9 Attorneys' Fees and Costs. If either party commences litigation or other proceedings (including, without limitation, arbitration) for the interpretation, reformation, enforcement or rescission of this Agreement, the prevailing party will be entitled to recover from the other party an amount equal to reasonable attorneys' fees and court and other costs incurred. In such action or proceeding, in addition to any other relief awarded to any party therein. The prevailing party shall be determined by the tribunal in such action or proceeding, and if not, then by the then presiding judge of the San Diego County Superior Court.
7.10 Successors. All terms of this Agreement will be binding upon and inure to the benefit of each of the parties and its respective administrators or executors, successors and assigns. Any assignment by either party shall be only by an instrument in writing, with a copy thereof provided by notice to the other party.
7.11 Counternarts. This Agreement may be executed in any number of counterparts, each of which will be deemed to be an original, but all of which together will constitute one instrument.
7.12 Annlicable law. This Agreement will be construed and enforced in accordance with the laws of the State of California. This Agreement shall be deemed made and entered into in San Diego County, which shall also be deemed to be the sole proper venue for any action or proceeding relating to the Agreement.
7.13 Cooneration. Aviara and City acknowledge that it may be necessary to execute additional documents or other writings in order to perform this Agreement and in connection with
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. determining the final Improvement Cost and-Reimbursement Amount and/or the periodic adjustments thereto. Aviara and City hereby agree to cooperate with each other by executing such other documents or taking such other action as may be reasonably necessary to implement the purpose of this Agreement.
This Agreement has been executed at Carlsbad, California, as of the date set forth at the beginning hereof.
AVIARA LAND ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partnership
BY any, a Delaware corporation, General
a California corporation,
CITY OF CARLSBAD
City of Carlsbad -
(Appropriate notarial acknowledgements to be attached)
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STATE OF CALIFORNIA I
COUNTY OF San Diego i ss.
I
On July 8. 1991 before me, the undersigned, a Notary Public in and for said State, personally appeared D.L. Clemens, personally known to me -the . . ti to be the person who executed the within instrument as the
Vice President of Aviara Land Company, a Delaware corporation, the corporation that
executed the within instrument on behalf of Aviara Land Associates Limited Partnership,
a Delaware Limited Partnership, the partnership that executed the within instrument, and acknowledged to me that such corporation executed the same as such partner and that such
partnership executed the same.
WITNESS my hand and official seal.
cMG/a, a* 6 ~&&Jl,&
NOTARY PUBLIC
STATE OF CALIFORNIA
COUNTY OF San Diego
I 1 ss:
I
On July 8. 1991 before me, the undersigned, a Notary Public in and for said State, personally appeared John R. Hartung, personally known to me vn . . c to be the person who executed the within instrument as
the Vice President, of Republic Development Company, a California corporation, the
corporation that executed the within instrument on behalf of Aviara Land Associates Limited Partnership, a Delaware Limited Partnership, the partnership that executed the within instrument, and acknowledged to me that such corporation executed the same as
such partner and that such partnership executed the same.
WITNESS my hand and official seal.
NOTARY PUBLIC ’ (Seal)
. . .
. .
Vincent F. Biondo, Jr.,7.f:v,, City Attorney
ATTEST:
City Clerk
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._--_ ,_ _
July 15, 1991
Aviara Land Associates
2011 Palomar Airport Road, Suite 206
Carlsbad, CA 92009
REi: AGREEMENT FOR FUNDING, MITIGATION, & REIMBURSEMENT FOR THE ’
POINSETTIA L&W/INTERSTATE 5 INTERCHANGE
The Carlsbad City Council, at its meeting of July 2, 1991, adopted Resolution No. 91-207,
approving an agreement with Aviara Land Associates for forward funding, mitigation and
reimbursement for the Poinsettia Lane/Interstate 5 Interchange.
Enclosed for your records is a fully executed copy of the above resolution and a fully
executed original agreement.
LINDA COTA
Secretary
lc
1200 Carlsbad Village Drive - Carlsbad, California 92008-l 989 - (619) 434-2808
CIT” OF CARLSBAD - AGEN-\ BILL
APPROVAL OF EARLY REPAYMENT TO AVIARA
Adopt Resolution No. 9 5 - 1 1 approving early repayment to Aviara Land
Associates for amounts advanced under a Forward Funding, Mitigation and
Reimbursement Agreement.
ITEM EXPLANATION:
On June 8, 1991, an Agreement approved by Council on June 18, 1991, with
Aviara Land Associates (Aviara) became effective for forward funding and
reimbursement of design and other preconstruction work on the Poinsettia
Lane/Interstate 5 overpass (the Project). Under the agreement, Aviara was to
advance up to 8913,000 and would be reimbursed when sufficient Bridge and
Thoroughfare District fees were collected. Since that time the City has formed
Community Facilities District #1 (CFD) in which has been incorporated this Project
and the related Bridge and Thoroughfare fees.
Aviara has met their obligation under the agreement and has advanced the full
amount of $913,000 which has been used to pay for the preconstruction work on
the project. Under current projections, the CFD will have sufficient funds to repay
Aviara for their advance in fiscal year 1995-96. Thus, the repayment has been
scheduled in the Capital Improvement Program (CIP) for payment in 199596.
In November 1994, Aviara requested that the City look into a modification of the
CIP which would move the repayment of their funds forward to the earliest
possible date. After reviewing the financial status of the CFD, staff is
recommending allowing this modification contingent on Aviara’s willingness to
discount the amount to be reimbursed for the loss of interest earnings to the City
for the early payment. Aviara has sent the City a letter stating that this plan for
repayment is acceptable by them (Exhibit 2). Thus, staff recommends that
Council adopt the attached Resolution allowing early repayment of the advance
at a discounted amount in full satisfaction of the City’s obligation under the
agreement.
FISCAL IMPACT:
Early repayment of this amount from CFD funds will not jeopardize any current
projects in the CFD. Sufficient funds are available to pay all anticipated project
costs through July 1, 1995. By discounting the repayment at a rate similar to the
yield on the City’s portfolio, the CFD financial status will be similar to what it would
have been if the repayment was made as scheduled.
PAGE TWO OF AGENDA BILL NO. 12, 9e2
The City’s portfolio is now earning approximately 6%, thus staff would recommend that
the repayment be discounted at an annual rate of 6% for the period from the date of
payment to July 1, 1995. Assuming the payment date was February 1, 1995, the
discount amount would be $22,825 ($913,000 at 6% for 5 months) which would result
in a repayment amount of $890,175. Aviara has concurred with this discount as
indicated in their letter dated December 6, 1994.
EXHIBITS:
1. Resolution No. 95 - 1 1 approving early repayment to Aviara Land Associates for
amounts advanced under a Forward Funding, Mitigation and Reimbursement
Agreement.
2. Letter from Aviara to the City of Carlsbad.
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EXHIBIT 1
RESOLUTION NO. 95 - 11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA APPROVING THE EARLY REPAYMENT
TO AVIARA UNDER AN AGREEMENT FOR FORWARD FUNDING,
MITIGATION AND REIMBURSEMENT FOR PUBLIC FACILITIES
WHEREAS, On July 8, i991, the City entered into an Agreement for
Forward Funding and Reimbursement for Public Facilities (the Agreement) with
Aviara Land Associates (Aviara) under which Aviara was to advance up to
$913,000 to the City for the design and other preconstruction work on the
Poinsettia Lane/Interstate 5 overpass (the Project); and
WHEREAS, such advance has been made by Aviara and used by the
City to fund the work on the Project; and
WHEREAS, under the Agreement, reimbursement was to occur when
sufficient Bridge and Thoroughfare District fees were collected and allocated to the
Project or when bonds were issued for the Project under an assessment district
or community facilities district; and
WHEREAS, the City has since formed Community Facilities District #l
(CFD) which incorporated this Project and the related Bridge and Thoroughfare
fees; and
WHEREAS, the CFD will have sufficient funds allocated to the Project
to repay Aviara for their advance in fiscal year 199598 and such repayment has
been scheduled in the Capital Improvement Program (CIP) for payment in 1995
96; and
WHEREAS, in November 1994, Aviara requested that the City make
reimbursement of the advance prior to its scheduled date; and
ill
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WHEREAS, staff has determined that the CFD does have sufficient
funds to make such early repayment subject to a discount for the loss of interest
earnings to the CFD.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Carlsbad, California as follows:
1. That the above recitations are true and correct.
2. That the City Council authorizes staff to reimburse Aviara $913,000
less the discount as further described below in full satisfaction of the City’s
obligations under the Agreement for Forward Funding and Reimbursement for
Public Facilities dated July 8, 1991.
3. That the reimbursement shall be discounted at an annual rate of
6% for the period from the date of payment to July 1, 1995.
4. The Finance Director shall require Aviara to execute the attached
Full Release as a condition simultaneous with said payment.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council on the 17 th day of JANUARY , 1995, by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Kulchin, Finnila, Hall
NOES: None
ABSENT: None
ATTEST:
l2t#ad&RGti~
ALETHA L. RAUTENKRANZ, City Cler (SEW
AlTACHMENT “A”
FULL RELEASE
p -> :c’
LI
KNOW ALL MEN BY THESE PRESENTS: 71
That the Undersigned, being of lawful age, for sole
consideration of Eight hundred ninety thousa~o,~~~~~~~s~~neny-f ive
paid to Aviara Land Associates Limited Partnership, a Delaware Limited Partnership
(“Aviara”), does hereby and for its heirs, executors, administrators, successors and
assigns release, acquit and forever discharge the City of Carlsbad and its agents,
servants, successors, heirs, executors, administrators and all other persons, firms,
corporations, associations or partnerships from any and all claims, actions, causes of
action, demands, rights, damages, costs, loss of service, expenses and compensation
whatsoever, which the undersigned now has or which may hereafter accrue relating to
the reimbursement of funds advanced by Aviara pursuant to the July 8, 1991 Agreement
for Forward Funding, Mitigation and Reimbursement approved by the City Council on the
18th day of June, 1991 in Carlsbad California, by Resolution No. 91-207.
THE UNDERSIGNED HAS READ THE ABOVE AND FULLY UNDERSTANDS IT TO BE
A FULL AND FINAL RELEASE OF ALL CLAIMS.
Signed and delivered this 30th day of January ,195.
SEE ATTACHED
Signature
Signature
Resolution No. 95-11
. .-
C.
AVIARA L&XI ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partnership
By: wrni/6orporation, Republic D vehpment Company General Partner
By~$!$$?k, General Partner
- CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT -
STATE OF CALIFORNIA 1 I COUNTY OF \ ,:-i* [
/ 1
G.. ‘JANE DOE. NOTARY PUBLIC’
personally appeared, o! L. &’ cfr?m/. 5 t’ ,Tz/ / . , ?&L,4/&-
personally known to me (l ) to be the person(s) whose name(s)-tsare
subscribed to the within instrument and acknowledged to me thatb&belthey executed the same in b&her/their authonzed
capacity(ies). and that by hi&her/their 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 and official seal.
NOTARY PUBLIC SIGNATURE /
/ OPTIONAL INFORMATION -
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT NUMBER OF PAGES
SIGNER(S) OTHER THAN NAMED ABOVE
.
-
AVIA.RA LAND ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partnership
By: Republic D vehpment Company ?Ffh.lQnif6orporation, General Partner
pelke, Assistant Secretary
- CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT -
STATE OF CALIFORNIA
COUNTY OF
0-1 /k%i/y? before me,~~~L~~~A~~~~o~~~~~ <AA? Y d,dL/C DOE. NOTARY PUBLIC”
personally appeared, /I. / c/ /=fi /6Vj 5’ 7r iv. mrQ?N.s~ \/
personally known to me (c) to be the person(s) whose name(s) tsare
subscribed to the wrthrn Instrument and acknowledged to me that be+ebe/they executed the same in h&her/their authonzed
capaclty(ies;. and that by hi&be+itheir signature(s) on the instrument the person(s), or the entity upon behalf of which t+e
person(s) acted. executed the instrument.
I
/f&I// &, ( (+/,,i/ 1-A,
NOTARY PUBLIC SIGNATURE
(SEAL)
\A/lfhlCCC m,, h?“,i -3nA nH;.-i3l cn-ll
comm. 1)101a93El
sm#EOOcouNrY 0
1 OPTIONAL INFORMATION -
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT NUMBER OF PAGES
SIGNERrS) OTHER THAN NAMED ABOVE
-
December 6, 1994
Mr. Jim Elliott Financial Management Director City of Carlsbsd 1200 Carlsbad Village Drive Carlsbad, CA 92008-1989
Dear Jim:
As outlined in your letter dated November 30, 1994, Aviara Land Associates is willing to accept a $22,825 discount in order to receive our Poinsettia Lane Bridge Reimbursement on February 1, 1995. With the City Council’s approval, we will expect a check for approximately $890,175 on or about February 1, 1995, and understand that there will be a slight adjustment when the exact payout date is known.
Thank you for your cooperation.
Sincerely,
D. La& Clemens
Vice President
DLC/er cc: Scott Medansky Curt Noland
bdgreim.alz
2011 PALOMAK AIRPORT ROAD SUITE 206 CARE&AD, CALIFORNIA 92009 (619) 931-1190 F~x:(619) 931-7950 0
FULL RELEASE
AlTACHMENT “A”
KNOW ALL MEN BY THESE PRESENTS:
That the Undersigned, being of lawful age, for sole
consideration of Eight hundred ninety thousa~olpp(@undred sea-five > .--
paid to Aviara Land Associates Limited Partnership, a Delaware Limited Partnership
(“Aviara”), does hereby and for its heirs, executors, administrators, successors and
assigns release, acquit and forever discharge the City of Carlsbad and its agents,
servants, successors, heirs, executors, administrators and all other persons, firms,
corporations, associations or partnerships from any and all claims, actions, causes of
action, demands, rights, damages, costs, loss of service, expenses and compensation
whatsoever, which the undersigned now has or which may hereafter accrue relating to
the reimbursement of funds advanced by Aviara pursuant to the July 8, 1991 Agreement
for Forward Funding, Mitigation and Reimbursement approved by the City Council on the
18th day of June, 1991 in Carlsbad California, by Resolution No. 91-207.
THE UNDERSIGNED HAS READ THE ABOVE AND FULLY UNDERSTANDS IT TO BE
A FULL AND FINAL RELEASE OF ALL CLAIMS.
Signed and delivered this 30th day of January ,19=.
SEE ATTACHED
Signature
Signature
Resolution No. 95-11
- CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT -
STATE OF CALIFORNIA )
COUNTY OF kz5& Liz2 & 1
NAME, TITLE OF OFFICER - E.G.. “JA DOE, NOTARY PUBLIC”
personally appeared, ,&. / . c/_l?M&?&5 5’ /37l- m. /lf?E2?AA/5& y
personally known to me (c) to be the person(s) whose name(s) Ware
subscribed to the within instrument and acknowledged to me that b&the/they executed the same in -r/their authorized
capacity(ies), and that by h&her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
\AIIThlCCC . . . h~..rl ~.nrl n4L.;-l rncll
u
(SEAL)
WQ#K,WUNTY t#
- OPTIONAL INFORMATION -
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT
SIGNER(S) OTHER THAN NAMED ABOVE
NUMBER OF PAGES
- CALIFORNIA ALL-PURPOSE
STATE OF CALIFORNIA )
COUNTYOF &+fl &/ )
ACKNOWLEDGEMENT -
On //3si?.T before rne,&h&56! /!!&&&f; /y&m/? Y /?!I& &--
NAME, TITLE OF OFFICER - .G., “JANE DOE, NOTARY PUBLIC”
personally appeared, .& L. &%??&X/. 5 s’ GN /-. I ?&/ ,t.!6 .I personally known to me (C ) to be the person(s) whose name(s)-is/are
subscribed to the within instrument and acknowledged to me that &&sbe/they executed the same in hi&her/their authorized
capacity(ies), and that by his&eMheir signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
(SEAL)
WITNESS my hand and official seal.
- OPTIONAL INFORMATION -
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT NUMBER OF PAGES
SIGNER(S) OTHER THAN NAMED ABOVE
AVIARA LAND ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partnership
BY ration, General Partner
General Partner