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HomeMy WebLinkAboutAD 86-01; Carlsbad Ranch / CB Ranch Enterprises/ Ecke; 88-557946; Reimbursement Agreement/ReleaseTHIS AGREEMENT is made by and between the CITY OR CAI@SBAy,{,, ("City"), a municipal corporation, an individual. and PAUL ECKE, SR. ["Q&$@~'&-&ER .Y.. -x.* RECITALS 1. The City Council of 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 1913", being Division 12 of the Streets and Highways Code of the State of California, for the construction of certain public works of improve- ment, together with appurtenances and appurtenant work, said assessment district to be known and designated as ASSESSMENT DISTRICT NO. 86-l (PALOMAR AIRPORT ROAD) (hereinafter referred to as the "Assessment District"). 2. The public works of improvementproposedto be constructed pursuanttotheAssessment District include streetimprove- mentsto PalomarAirport Road, water improvements, drainage improvements, utility installation and acquisition of right-of-way. 3. Owner is the owner of certain real property located in the City of Carlsbad and identified as Assessor's Parcel No. 212-041-05 (the "Property"). The Property is more particularly described in Exhibit "A", which is attached hereto and by this reference made a part hereof. 4. The Property is currently included within the proposed boundaries of the Assessment District and accordingly to the "Investigation Report" prepared for the City pursuant to the "Special Assessment Investigation, Limitation and Majority Protest Act of 1931," the Property would be subject to assessment. 5. Pursuant to the proceedings of the "Special Assessment Investigation, Limitation and Majority Protest Act of 1931", Owner has filed a written protest pertaining to the formation of the Assessment District and the levy of the proposed assessment against the Property. Owner's protest is based upon Owner's belief that the Property does not benefit from the proposed public works of impr- ovements as a result of limitations on development placed upon the Property under the current Local Coastal Plan and other land use restrictions. 6. Owner has agreed to withdraw its protest to the formation of the Assessment District if the City agrees to contribute to the Assessment District a sum equal to the assessment against the Property and to modify the Assessment District RECORDII$G REQUESTED BY AND RETURN TO: c; t,y. c-%:k. ,^_ -- Ik;IOGc IL 91 Ave. .: C&&bad, CA 92008 . l . - 1960 -- se 557345 REIMBURSEMENT AGREEMENT . . -I . ” _’ . . . . , - : ?-.“- 1961 -- 7. 8. proceedings to eliminate any proposed assessment against the Property. City is willing to contribute the sum specified herein if the Owner agrees to reimburse the City for such con- tribution plus interest as specified herein when and if the Local Coastal Plan restrictions on development of the Property and other land use restrictions are eliminated. Owner is willing to agree to reimburse the City for monies advanced, provided that the terms and conditions hereinafter have a reasonabletimelimitandthe obligation is not perpetual. NOW, THEREFORE, upon the terms and conditions and for the consideration set forth hereinafter, the parties agrees as follows: 1. City agrees that it will contribute funds to discharge the assessment against the property said amount estimated to be $ 131,767.96, which represents the current proposed assessment against the Property, and approve a change and modification in the Assessment District proceedings so that upon confirmation of assessments within the Assessment District no assessment would be levied against the Property. 2. Prior to the close of the protest hearing conducted pursuant to the IIMunicipal Improvement Act of 19131f, Owner agrees to file with the City Clerk a written with- drawal of Owner's protest to the formation of the District and Owner agrees thereafter not to file a protest to such formation. 3. When and if the Local Coastal Plan and other land use restrictions are so modified as to permit development of the Property and the City's General Plan concurrently permits development of the Property and Owner requests a permit to allow development on said land either through a use permit, building permit, grading permit or sub- division or parcel map, Owner shall then immediately be obligated to either (a) reimburse the City for the prin- cipal amount of the City's contribution to the Assessment District, plus interest, as set forth herein, or contri- bution to the Assessment District, plus interest, as set forth herein, or (b) execute a promissory note and deed of trust pursuant to the terms and conditions as set forth hereinafter. For purposes of this Agreement, ffdevelopmentlf means the division of land, grading or original construction of an improvement to the Property, which division of land, grading or construction is of the type normally associated with urban development as opposed to agricultural activity and which is capable of receiving and utilizingthe special benefits accruingtothe Property from the construction of the public works of improvement pursuant to the Assessment District. -- ’ 1962 . . -. c , . . I . ., , I 4. 5. 6. 7. 8. 9. 10. 11. In lieu of paying the principal and interest upon devel- opment, the Property Owner.may, at its option, elect to pay all sums necessary to bring current the amount as if an assessment had been levied, and then to pay the balance due over a period of years, said period being the balance of the term for the issuance of bonds. This obligation to pay over a period of years shall be evidenced by a note and deed of trust in form satisfactory to the City Attorney, and said amount may be prepaid at any time without penalty. The Reimbursement Agreement and obligation shall be in full force and effect for thirty (30) years, and the Property Owner's obligation and payment shall accrue interest at the rate of eight and one-quarter percent (8.25%) per annum from the date of issuance of the bonds for the Assessment District for a period of fifteen (15) years. Upon execution of this Agreement, the City shall cause a copy of this Agreement to be recorded in the Office of the County Recorder of the County of San Diego. This Agreement constitutes the entire agreement between the parties pertaining to the subject matter contained herein, and supercedes all prior and contemporaneous agreements, representations and understandings of the parties. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by all the parties. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in written by the parties making the waiver. This Agreement shall be binding upon and inure to the benefit of the respective heirs, personal representatives, successors and assigns of the parties hereto. All warranties, representations, covenants, obligations and agreements contained in the Agreement shall survive the execution and delivery of this Agreement and any and all performances in accordance with this Agreement. In the event that judicial or other legal action is initiated pertaining to the enforcementofthis Agreement, the prevailing party in such action shall be entitled to reasonable attorney's fees and costs. Any notice, request, demand or other communication to be given to either party hereunder shall be in writing and shall be sent by registered or certified mail, as follows: I -. , ‘ . . ‘. r . , -_ TO CITY: . C , City of Carlsbad 1200 Elm Avenue Carlsbad, CA 92008 Attention: City Manager TO OWNER: Notice shall have been deemed to be given forty-eight (48) hours after the same has been deposited in the United States mail post office box in the State to which the notice is addressed, or seventy-two (72) hours after deposited in any such post office box other than the State in which the notice is addressed, postage prepaid, addressed as set forth above. The addresses and ad- dressees for such the purpose of this paragraph may be changed by giving of written notice of such change in the manner provided herein for giving notice. Unless and until such notice is received, the last address and addressee stated by written notice, shall be deemed to continue in effect for all purposes hereunder. IN WITNESS WHEREOF, the parties hereto have executed this Reimbursement Agreement on the date and year set forth below. EXECUTED at Carlsbad , California, this a" day of + 1988. By: ALETHA L. RAUTENKRANZ, City C&k EXECUTED A$ #%c/ d 1 /my5 , California, this /3 _ day of Me/L 1988. "OWNER" By: @a AI PAUL ECEE, SR. _- a Notary Public in and tor personally known to me (or proved to me on the basis of satis- factory evidence) to be the person(s) whose name(s) is/are sub- scribed to the within instrument and acknowledged to me that he/she/they executed the same. WITNESS my hand and official seal. Signature (This area for official notarial seal) .- 1965 EXHIBIT “A” LEGAL DESCRIPTION - A portion of Lot G of Ranch0 Aqua Hedionda according to Map 823 and more particularly described as Assessor’s Parcel Number 212-041-05. Shown for convenience sake on the attached plat. : I APPROX. LOC.,STEW+jRT RD.