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Home My WebLink AboutAD 86-01; Carlsbad Ranch Company / Carltas; 1996-0150688; Reimbursement Agreement/Releasef G-g g> .8 a ,. @; ip YffJ ,B ~~~~~~ (I* , R;CORDiNG REQUAY, 27-flQB- 3 p$& Q 1 :: .&d AND WHEN RECORDED MAIL TO: -rr =TA.I prc-.,-p2; Ilr; kriii .L~.A,L $AH []gE@ @jjTY &C#;'g;;'S OFFIC, @[$jWY SBITH 9 C&H I T i \ i F,,,,,t,Ls, 1rrnF;yq CITY CLERK CITY OF CARLSBAD 1200 CARLSBAD VILLAGE DRIVE 1449 RF :: 20jjD FEES: 7; fifi tlF : 1. $0 &s-= ,x CARLSBAD CA 92008 fiF : AMENDMENT NO. 2 TO REIMBURSEMENT AGREEMENT BETWEEN THE CITY OF CARLSBAD AND PAUL ECKE, SR. FOR PALOMAR AIRPORT ROAD ASSESSMENT DISTRICT This Amendment is entered into and effective as of the *day of .2!2?4&y x 1996, amending the Reimbursement Agreement dated May 26, 1988, by and between the CITY OF CARLSBAD, a municipal corporation, hereinafter referred to as "City," and CARLSBAD RANCH COMPANY, L.P., a California limited partnership, and CB RANCH ENTERPRISES, a California corporation, as successors-in-interest to PAUL ECKE, SR., an individual, hereinafter collectively referred to in the singular as "Owner." RECITALS WHEREAS, the initial Reimbursement Agreement, dated May 26, 1988, and recorded November 1, 1988 as Document Number 88-557946, identified the terms of the Agreement as stated in "Exhibit B;" and . WHEREAS, the parties to this aforementioned Agreement desire to alter the terms of the Reimbursement Agreement; and WHEREAS, the City of Carlsbad, California, hereby finds it necessary, desirable, and in the public interest to amend the aforementioned terms. NOW, THEREFORE, in consideration of these recitals and the mutual covenants contained herein, City and Owner hereby agree to: A. Delete Sections 3, 4 and 5 of the Reimbursement Agreement between the City of Carlsbad and Paul Ecke, Sr., dated May 26, 1988, and substitute the following Sections 3, 4 and 5 in their place: Page 1 of 4 (Revised January9,1996) e .I450 .'+ -7 Section 3. When and if the Local Coastal Program and other land use restrictions are so modified as to permit development of the Property, the following provisions apply. Upon approval of any final map on the Property or portion of the Property, or upon the issuance of any grading permit on the Property, or any portion of the Property, whichever comes first, Owner shall then immediately be obligated to either: (a) reimburse the City for it's contribution to the Assessment District in the amount of $131,767.96 plus 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. OR (b) elect to pay all sums in the amounts and according to the schedule as set forth in "Exhibit A." Any amounts not paid according to the schedule will continue to accrue interest at the rate of eight and one-quarter percent (8.25%) per annum until a date which is fifteen (15) years from the date 01 issuance of the bonds for the Assessment District. For the purposes of this Agreement, "development" 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 receivinc and utilizing the special benefits accruing to the Property from the construction of thc public works of improvement pursuant to the Assessment District. Notwithstanding the above, the City and Owner agree that during the term of thi: Agreement, the reimbursement obligation computed as defined herein shall bc deferred, as long as the Owner continues the production of flowers on the Carlsbac Ranch Project as defined in Section H.l .a.i. of the approved Carlsbad Ranch Specific Page 2 of 4 (Revised January 9,1996 . b ., 0 @ 1451 Plan, SP 207(A). Interest shall continue to accrue on the obligation during the period of such deferral. From and after approval by the California Coastal Commission of the Local Coastal Program Amendment for Specific Plan SP 207 (A), (i) the term "Property" shall be defined to mean that portion of the Carlsbad Ranch Project designated in the approved Specific Plan, SP 207 (A), as Planning Area 7, The Flower Fields, and (ii) this Reimbursement Agreement shall be terminated with respect to any other real property. Section 4. The current value of the Owner's obligation to reimburse the City for it's contribution to the Assessment District plus interest as shown on Attachment A, shall be evidenced by a note and deed of trust on the Property in form satisfactory to the City Attorney, which note and deed of trust shall be executed concurrent with the occurrence of the obligation to repay under Section 3 above. The Owner's obligation may be prepaid at any time without penalty. Section 5. The Reimbursement Agreement and obligation shall be in full force and effect for thirty (30) years from the date of this Amendment, unless earlier extinguished by payment in full. All other provisions of the aforementioned Reimbursement Agreement, entered into B. on May 26, 1988, by and between City and Owner shall remain in full force and effect. C. The parties acknowledge that these provisions represent a contract supported by adequate consideration and hereby waive any and all potential challenges to the Palomar Airport Road Assessment District formation or subsequent modifications thereto. Ill Ill Ill Ill Ill Ill Page 3 of 4 (Revised January 9,1996) 0 a -? 1452 Acknowledged and Accepted: OWNER: CITY: CARLSBAD RANCH COMPANY, L.P., a California limited partnership By: CARLTAS COMPANY, a California limited partnership, its General Partner ATTEST: 1 Ukll L ALETHA L. RAUTENKRANZ' City Clerk Date 1 L. 13 /9 2% Secretary (Proper notarial acknowledgment of execution by Owner must be attached.) (President or vice-president and secretary or assistant secretary must sign for corporations. If only one officer signs, the corporation must attach a resolution certified by the secretary or assistant secretary under corporate seal empowering that officer to bind the corporation.) APPROVED AS TO FORM: RONALD R. BALL L 3.6. $6, €lepu#y City Attorney Page 4 of 4 (Revised January 9, 1996) ' . CALIFORNIA ALL-PURPO jh ACKNOWLEDGMENT 0 1453 County of L~.s AOW/C s On d~fl~~~~y 3&/%'6 before me, L 5-A m JTddS72d, ~otkcq ?U~/I C , personally appeared Sue K /J3 f Date Name and Title of Officer (e g , 'Jane Doe, Notary Public") I Name($ of Signer(s) &personally known to me - OR - 0 proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) iske subscribed to the within instrument and acknowledged to me that h/she/thy executed the same in Ris/her/thqr 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. Though the information below IS not required by law, It may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Sig 0 Individual 0 Corporate Officer 0 Partner - 0 Limited 0 General 0 Limited 0 General 0 Guardian or Conservator Signer Is Representing: 0 1994 National Notary Association - 8236 Remmet Ave , PO Box 7184 * Canoga Park, CA 91309-7184 Prod No 5907 Reorder Call Toll-Free 1-80 a a ' . CALIFORNIA ALL-PURPO ACKNOWLEDGMENT 1454 County of 54d DI Fe o On JAdL(&ff 1 z iyqk before me, 6( /q+?e4Li A P*V?, /&?/*cy fi@ Date ' Name and Title of Officer (e g , "Jane Doe: Notary Public") personally appeared r/tf?f s mp+y< e C'A c.ic/dS= I Name@) of Signer@) executed the instrument. Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: fif%!??i!~!~?~~ fib Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) / % &i?7/%/=&72?&7L'T &?k4, Signer's Name:eb~~~~~@~ c - f?&u&& Signer's Name: 0 Individual G Individual G Corporate Officer Tit le (s) : 0 Partner - Limited 0 General Partner - Limited 0 General 0 Attorney-in-Fact 0 Attorney-in-Fact 0 Guardian or Conservator 0 Guardian or Conservator Signer Is Representing: Signer Is Representing: 0 1994 National Notaty Association 8236 Remmet Ave , PO Box 7184 * Canoga Park, CA 91309-7184 Prod No 5907 Reorder Call Toll-Free 1-8C @ 0 ' .. C~L~FORNIA ALL-PURPO ACKNOWLEDGMENT 1455 State of CAU~AI / A Countyof .5bN Di E~c, a' 4. ?*a, A'Q,?+fCi/ fi(& Name and Title of Officer (e.g.. "Jane Doe! Notary Public") on.J~n'l(K)/ /? /??& beforeme, Km Date ' personally appeared mfls mp+Tc @ ' cdLic/riA* - Name@) of Signer@) %sonally known to me 1 to be the persong whose name@&&x+subscribed to the within instrument and acknowledged to me that@strefttrepcexecuted the same i- ' authorized capacity(* and that by his/her/their signaturew on the instrument the personM or the entity upon behalf of which the personw acted, executed the instrument. Description of Attached Document Title or Type of Document: #fl~~~~?~~ db. / T? &/~?/%/~~~~~~~ K7hf?- Document Date: Signer(s) Other Than Named Above: Capacityties) Claimed by Signerts) 0 Individual 0 Corporate Officer 0 Partner- 0 Partner - 0 Limited 0 General Guardian or Conservator 0 Guardian or Conservator Signer Is Representing: Signer Is Representing: Prod. No. 5907 Reorder: Call Toll-Free 1-800-1 Q 1994 National Notary Association * 8236 Rernrnet Ave., P.O. Box 7184 * Canoga Park, CA 91309-7184 0 1456 0 CALIPOICSIA ALL-IWIHWBSE ACli;SOWLEIBGEQIEST State of California 1 County of San Diego } } ss. On 19 January 1996, before me, Joyce E. Mizock, Notary Public, personally appeared Paul Ecke 111, Secretary personally known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity and that by his signature on the instrument the person or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal. Comrn # 958724 NofARY WBClCCALtFORNlA 8AN DIEM COUNTY CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMf AMENDMENT NO.l TO REIMBURSEMENT AGREEMENT BETWEEN THE CITY OF CARLSBI AND PAUL ECKE SR. FOR PALOMAR AIRPORT ROAD ASSESSMENT DISTRICT Secretary Carltas Company, a California limited TITLE TITLE OR TYPE OF DOCUMENT partnership Four (4) SIGNER IS REPRESENTING NUMBER OF PAGES n/a TITLE DATE OF DOCUMENT Christopher C. Calkins; Sue Kint; Claude Lewis; Aletha L. Rautenkranz; Ronald R. SIGNER IS REPRESENTING SIGNERS OTHER THAN NAMED ABOVE ., . Paueke, Sr. Reimbursement Agrement MHlBl Palomar Airport Rd. Assessment District 86- 1 Property Owner's Obligation As of June 30,1996 - 1-43 7 (1 ) (1 1 ., Fiscal Original Original Total No. of Years Interest Total Year Principal Interest Pavment Outstandinq Rate Interest 89 4,977.68 9,563.49 14,541 .I7 7.0 8.25% 8,397.53 22,9: 91 5,903.19 8,958.63 14,861.82 5.0 8.25% 6,130.50 20,91 92 6,288.18 8,592.63 14,880.81 4.0 8.25% 4,910.67 19,7E 93 6,673.17 8,190.19 14,863.36 3.0 8.25% 3,678.68 1831 94 7,186.49 7,749.76 14,936.25 2.0 8.25% 2,464.48 17,a 95 7,699.81 7,261.08 14,960.89 1 .o 8.25% 1,234.27 16,19 96 8,341.47 6,722.09 15,063.56 0.0 8.25% 0.00 15,06 90 5,518.20 9,289.72 14,807.92 l 6.0 8.25% 7,329.92 22,1: Total 52,588.19 66,327.59 118,915.78 Total Amount Due June 30,1996 Remaining Amounts Due June 30 of the Respective Years: 153,06' (1 1 Original 1 (1 ) Original Year Principal Interest 97 8,854.79 6,127.76 14,98: 98 9,496.44 5,485.79 14,98: 99 10,266.42 4,785.43 15,05' 2,000 11,036.4O 4,002.62 15,03S 2,001 11,806.38 3,147.30 14,952 2,002 13,346.35 2,217.55 15,562 2,003 14,372.99 1,149.84 15,522 Total 79,l 79.77 26,916.29 106,09€ Grand Total $131,767.96 CURRENT VALUE OF THE PROPERTY OWNER'S OBUGATION Amount Due June 30,1996 153,061 Remaining Amounts Due 106,096 Total Current Obligation $259.157. 1 (1) Amounts as colculated by NBS Lowry (2) Interest in the amount of 8.25% per year to be added to obligation if paid after June 30, 1996. uw JJfY1 -44347r e, 1458 -' 6'" ---JL g{t~d~~ eih Ave . ."$ Carh.b?d, .CA 92008 .1 % I1 REIMBURSEMENT AGIkyEMENT Fj8F;ZTJ-t #&I THIS AGREEMENT is made by and between the CITY OW C (ItCitytt), a municipal corporation, and PAUL ECKE, SR. (It an individual. -....* E 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 ItMunicipal Improvement, Act of 1913It, 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. 86-1 (PALOMAR AIRPORT ROAD) (hereinafter referred to as the "Assessment District''). The public works of improvement proposed to be constructed pursuant to the Assessment District include street improve- ments to Palomar Airport 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 ttPropertytt). The Property is more particularly described in Exhibit tlA1t, 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 tlinvestigaticn Reportt1 prepared for the City pursuant to the 'ISpecial Assessment Investigation, Limitation and Majority Protest Act of 1931," the Property would be subject to assessment. 5. Pursuant to the proceedings of the tlSpecial 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. 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 2. 6. I459 a y1 e- - {!; .f . , . .t ' rn -I \L , *I$ proceedings to eliminate any proposed assessment against the Property. 7. 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. 8. Owner is willing to agree to reimburse the City for monies advanced, provided that the terms and conditions hereinafter have a reasonable time limit andthe 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 "Municipal Improvement Act of 1913", 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 Prcperty 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, '*developmentlq 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. 1460 0 WZ .i - .I <*. ,." . .?h ' I. ' .? i. * 4. t 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. 5. 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. 6. 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. 7. 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. 8. This Agreement shall be binding upon and inure to the benefit of the respective heirs, personal representatives, successors and assigns of the parties heretc. 9. 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. 10. In the event that judicial or other legal action is initiated pertaining to the enforcement ofthis Agreement, the prevailing party in such action shall be entitled to reasonable attorney's fees and costs. 11. 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: e *fl Q '. -) .( , I. I. "+ rl r .' 1 % #. 1 1461 TO CITY: City of Carlsbad Carlsbad, CA 92008 Attention: City Manager TO OWNER: / / 1200 Elm Avenue 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 $de day of +, 1988. . ALETHA L. RAUTENKRANZ, City Clekk EXECUTED A$ ,&dd/ u 1 /?5 , California, this /3 - day of A-iP/z/e 1988. "OWNER" @&a/31a By : PAUL ECKE, SR. - 9. 0 0 1462 1964 1 I he un ersigned a Notary Public in and m - - ___ - - - __ . - ____ L- -- ______ 2.1 0 a, E a - i' 2 3 _.___ __ ________-__-- - __ - - __ - - - - . - - ______- _ _- -----, personally known to me (or proved to me on the basis of satis- factoryevidence) to be the person(s)whose name(s) is/are sub- LL - 3 E scribed to the within instrument and acknowledged to me that OFFlClM SEAL -0 t he/she/they executed the same - - - N !? s. WITNESS my hand and official seal T- ! *UT!!- (This area for official notarial seal) a i Signature ' "- ,., I. 1, . * 1' *- * # e-' ,. I 1463 EXHIBIT "A" LEGAL DESCRIPTION A portion of Lot G of Rancho 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. b %/ v; L $', - '+ e- ,tmu" a ! I -. , 1464 I 4