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HomeMy WebLinkAboutCT 88-03; Real Estate Collateral Management Company; 1998-0152406; Petition & Waiver- . ., ' . RECORDED REQUESTOF SUIlDIVISlON MAPPING DEPT. First American Title WHEN RECORDED MAIL TO: RECORDING REQUESTED BY AND City Clerk CITY OF CARLSBAD 1200 Carlsbad Village Drive Carlsbad, CA 92008 561 /- immul~r~lYullull~lulllluuulul~ullullulU ZdDEX k5 Rd ' 1998-01 62408 ' ' PGP6EqgJJ - Space Above This line for Recorder's Use PETITION, WAIVER AND CONSENT TO CREATION OF A COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE Parcel Nos: 255-022-01; 255-041-18,19,20 255-010-09,18,19; 216-320-13 255-030-09,11,12,13 255-031-24,25 WHEREAS, the undersigned Property Owner at this time is processing for development with the City of Carlsbad (hereinafter referred to as "City") a development project known and identified as Tentative Tract Map CT 68-3 (hereinafter referred to as the "~roject"); and, WHEREAS, the legal description for the Project is shown on Exhibit "B" attached hereto; and, WHEREAS, City has determined this Project is located within the boundaries of a proposed Community Facilities District known as Community Facilities District No. 2 - Rancho Santa Fe and Olivenhain Road (hereinafter referred to as "District"); and, 5 62 WHEREAS, District is intended to be formed to finance those improvements generally described in Section 1 herein; and, WHEREAS, Property Owner desires to proceed with processing prior to the .. formation of District; and, .. . WHEREAS, condition number of Tentative Tract Map CTW-3 requires that. the Property Owner provide for or participate in the construction. of certain public improvements including sections of Rancho Santa FeRoad; and, . WHEREAS, the compliance with tentative^ map conditions is a condition of approval for the final map for the Project; and, WHEREAS, the City and Property Owner desire to agree to an alternative method of financing the improvements described in Section 1 herein that will allow Property Owner to discharge~its fair share and obligation for said improvements in lieu of, or in anticipation of, participation in District; and, WHEREAS, the City.-Council agrees that Property Owner, upon entering into this agreement and upon payment of the fair share described herein, has m8t the requirement set forth in tentative map condition number 94 for Carlsbad Tract Map CT 59 " -3 , to provide a financial guarantee for the construction of those improvements described in Section 1 below; and, - WHEREAS, Property Owner voluntarily enters into this agreement with respect to the Project; and, 5 63 WHEREAS, the City Council has determined that due to the size of the proposed development, there will be no major impact on the circulation system at the present time if development of the Project is allowed to proceed with sufficient financial guarantees for future construction of Property Owner's fair share of the circulation improvements; NOW, THEREFORE, in consideration of proceeding with the processing of Project, the undersigned Property Owner and City hereby agree and certify to the following: 1. Property Owner hereby petitions the City for the initiation of the proceedings for the formation of District which will cause the construction and installation and/or financing of the following improvements (hereinafter 'Improvements" which are generally described as follows: a) Rancho Santa Fe Road North Phase 1 (RSF No.1) La Cos@ Avenue to east of Mahr Reservoir b) Olivenhain Road Widenina. and intersection imorovements at Olivenhain and El Camino Real c) Rancho Santa Fe Road North Phase 2 (RSF No. 2) Phase 1 End tp Melrose Drive. d) Rancho Santa Fe Road South (RSF So.) (Assumes Secondary Arterial Standard - Encinitas Citv Boundarv to Olivenhain Road Full ImDrovements, 2. The cost of construction, engineering, environmental mitigations legal and other incidental expenses as set forth in the Improvements budget will be funded by the District. 3. Property Owner acknowledges its right to notice of and participation in all phases of formation under the "Mello-Roos Community Facilities Act of 1982," 5 64 expressly waives the proceedings required and all limitations contained in Title 5, Division 2, Chapter 2.5 of the California Government Code and nonetheless with full knowledge of such rights, completely and forever waives such rights. Specifically, Property Owner hereby consents to the proceedings and waives any right to protest the formation of the District and the ordering of the improvements under applicable California statutes' and consents to and supports formation of said District with respect to the Project. The City shall exclude the Project from- the District . boundary map if, prior to the adoption of a Resolution of Intention by the City Council to form said. District, Property Owner has entered into this agreement and has paid to the city all amounts due as described herein. . . 4. a) Property Owner agrees to pay to City, or provide, its fair share for the improvements described in Section 1. b) Said payment, or provision, shall be made in the manner described in Exhibit "A", Rate and Method for Determining Fair Share Obligation Rancho Santa Fe and Olivenhain Road, which is incorporated herein by reference. c) The amount of Property Owner's fair share will be conclusively determined by the City Council in the manner described in Exhibit "A" attached hereto. d) Payment by Property Owner of its fair share of improvement costs as determined by City Council and set forth herein will satisfy its obligations for the construction of the imployements described in Section 1, as required by the Tentative Map CTB - 3 condition numbeu?, as that condition applies to CT@- -8 3 subject to adjustment as described in Section 9 herein. - e) Alternatively, if the District is formed and Project is included within it, Property Owner's obligations to pay its fair share pursuant to the agreement shall be satisfied upon payment of all taxes imposed, established and 565 payable to said District less the credit identified in Exhibit "A" for the construction costs of the applicable improvements in Tentative Tract Map CT &- 3 .. 5. Property Owner acknowledges that this agreement to pay its fair share and participate in the financing of improvements is voluntary and that without this agreement Propert$ Owner would be precluded from obtaining final map approvals or building and other development permits under the provisions of the General Plan, Chapter 21.90 of the Carlsbad Municipal Code, applicable zone plan, financing plans and related documents until a satisfactory financing program has been developed to fund the construction of the improvement described in Section 1. 6. Property Owner hereby waives his right to challenge the amount, establishment or imposition of said fair share and further waives any rights to pay said fair share under protest. 7. This agreement does not affect, in any way whatsoever, the obligation of Property Owner to pay any other fees or assessments associated with Property Owner's development and/or to post improvement bonds as required by the City Engineer. Nor does this agreement relieve Property owner from providing other public facilities required under conditions placed upon tentative map CT 9- 3 by the City. 8. Property Owner agrees that payment of its fair share is not a fee and waives any and all rights to notice of or challenges to the establishment or imposition of said fair share as a fee under provisions of Government Code section 66000 or any successor or related statutes. 9. a) If the District is formed subsequent to the payment by Property Owner of the fair share pursuant to this agreement, Property Owner's financial obligation shall be recalculated using the taxing formula established for the District for the improvements described in Paragraph 1. If that obligation is lower than the 566 amount previously paid or provided by Property Owner to City,.City shall refund any excess, in the manner described below. b) Any refund shall be made from funds available within District upon District formation and shall not be an obligation of City's General Fund or other revenue sources. .. c) In the event that insufficient funds are available from District's resources, Property Owner shall be reimbursed in the order in which funds were deposited with City as soon as sufficient -funds become available, as determined by the City Council, through the payment of one-time taxes or annual undeveloped land taxes to the District. The City is not required to establish an undeveloped land tax within the District to provide such refund. d) No reimbursement is required until the City Council determines that sufficient funds are available. Any refund to Property Owner shall not include interest. ~. e) Any payment received by the City under this agreement shall be deposited in a special interest bearing fund and may only be used to fund the construction of the facilities described herein. Upon the formation of a CFD to fund these same Improvements, any amount remaining in the special fund may be transferred to-the CFD fund, at the discretion of the Finance Director. - .~ 10. Upon completion of the Improvements, and recording of the notice of completion for the final phase of the Improvements, the City Engineer shall determine the total cost of all phases~of the Improvements and all related work (Costs), and the Finance Director shall determine the total amount of revenue including fees, taxes, interest earned on funds restricted to use only on the Improvements, and other sources of funds received by the City dedicated to paying for the construction of the -. 567 Improvements (Revenues). The Finance Director shall then compare the amount of Costs and Revenues to determine if there are any excess Revenues as described below. If excess Revenues of more than $100,000 exist, the Finance Director shall provide refunds to all eligible parties of all excess Revenues in an amount and in the manner described below. If excess Revenues are equal to, or less than $100.000 the City shall retain these funds in a special fund to be used to finance street repair, maintenance, and landscaping within the Improvements. a) The total amount of excess Revenues shall be determined by deducting the amount of the project Costs from the available Revenues. Total project Costs shall include all costs to plan, design, construct, mitigate environmental impacts, inspect, and otherwise complete the project to the satisfaction of the City Engineer, including applicable charges for City staff services. Total Revenues shall include all monies held by the City dedicated exclusively to the construction of the Improvements including any fee revenues earmarked for the Project, CFD #2 taxes, applicable CFD #1 taxes, grants, and interest earned on restricted funds as determined by the Finance Director. b) The amount of the refund due to any party shall be based on the proportion of that party’s payments under this agreement based on its’ proportional share of Equivalent Dwelling Units constructed or to be constructed by that party, weighted as described in Exhibit A, divided by the total number of EDUs constructed or to be constructed within, and participating in, CFD #2 and/or CFD #2 agreements to prepay taxes. The amount of the refund shall be determined by multiplying the proportional share computed above by the total amount of excess revenues. c) In order to share in the refund of any portion of the excess Revenues, the eligible party must request to be included in the distribution of funds. Such request must be made within 90 days after the City Council’s acceptance of the Notice of Completion for the final phase of the Improvements. Each request must be accompanied by documents indicating clear title to the refund unless the request is 568 being made by the party which originally paid the taxes to the City under a prepayment agreement or to CFD #2. d) The Finance Director shall compute the amount of the refund due each party as described above. Funds may be disbursed to the eligible parties following Council approval of such refunds. . e) If the City does not receive requests for refund from all eligible parities within the specified period, and all funds cannot be disbursed as provided by this section, any remaining funds shall be held in a special fund to be used to support road and roadway maintenance in and around the Improvements area, as determined to be necessary by the City Engineer, and approved by the City Council. f) As a courtesy to -all interested parties, the City will maintain a file of those individuals or companies entitled to a refund, and will mail notices of refund availability to the names and addresses in this file following the City Council’s acceptance of the final Notice of Completion. It is the eligible party’s responsibility to notify the City if the rights to any refunds under this section are assigned to another party, or if there is-a change in name or address for the eligible party. The City takes no responsibility for the accuracy of the information included in this file, - and is under no obligation ro locate persons or entities who are entitled to refunds. Failure to notify any party of the availability of excess Revenues shall not obligate the City in any way to extend or modify the above refund procedures. 11. Compliance with this agreement will be accepted by City as an alternate to the method described in ~. _the current Local Facilities Management Plan for local facilities Management Zone for financing the Improvements described in Paragraph 1. This agreement does not require City to issue building permits or other development permits or grant approvals or relieve Property Owner of the obligation to comply with ail applicable provisions of law, including but not limited to Carlsbad Municipal Code Titles 18, 19, 20 and 21. 569 12. Compliance with the provisions of this agreement is a condition of all future discretionary approval for the Improvements Property Owner does not comply with the provisions of this agreement, approval of the Project will not be consistent with the General Plan, the Growth Management Program, and the Local Facilities Management Plan, and all subsequent discretionary approvals and permits for the Project may be withheld by City. 13. In addition, the City will not approve any pending final maps, issue grading, building or other development permits or take any discretionary action until the Property Owner has complied with the terms of this agreement due to be satisfied at the time such approval is required. 14. The City may, at its discretion, elect to pursue any remedy, legal or equitable against Property Owner and Property Owner's successors, heirs, assigns, and transferees of the Project to secure compliance with this agreement. 15. City shall not, nor shall any officer or employee of City, be liable or responsible for any loss or damage incurred by Property Owner or any successor or assign of Property Owner, or by any occupant in Property Owners buildings, as a result of the exercise of any remedies provided to City in this agreement. Property Owner agrees to indemnify City for any liabilities incurred by City as a result of City's exercise of these remedies. 16. This agreement and the covenants contained herein shall be binding upon and inure to the benefit of the successors, heirs, assigns, and transferees of Property Owner with respect to the Project only and City, and shall run with the Project and create an equitable servitude upon the Project. 17. All notices provided for under this agreement shall be in writing and shall be delivered in person or served by certified mail postage prepaid. Delivery of notice to Property Owner shall be presumed to have been made on the date of 570 mailing regardless of receipt by Property Owner. Notices required to be given to Property Owner shall be addressed as follows: Notices to the City shall be delivered to the Finance Director City of Carlsbad 1200 Carlsbad Village Drive Carlsbad, CA 92008 Notices to Property Owner shall be delivered to: . Mr. Two E-2. T%LSod b=AL tz*= c-cLw3z/K- /crchLt~~~d~co~-~bv~ - CML5W, c&. qzots- 7003 . to. 'UP% 9Ci.lo-lns Each party shall notify the other immediately of any change that would require any notice delivered hereunder to be directed to another party. 18. This agreement shall be recorded but shall not create a lien or security interest in the property. .- 19. The undersigned Property Owner further states, under penalty of perjury, that he is owner of the property as described herein on Exhibit 'B", or an authorized agent of the owner, and has the authority to execute this document, including the binding authorizations herein. /I I1 /I /I 11 I1 I! I1 I1 .. - 571 Executed this day of &%db , 1996. 'OWNER: GLL&=T?& v (printHarne here) CITY OmCARLSBAD, a Municipal ATTEST, City Clerk Approved as to form: B&ty Attorney (print name here) Vf (title and organization of signatory) -' (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. . 572 ACKNOWLEDGMENT STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) 9s. ) appeared James M. Jackson and Spiro G. Kailas uersonallv known to me (or proved to me on the basis of On 11/27/96 , before me, Vivian Mae Walters, personally -~ satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within igstrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the person(s) acted, executed the instrument. instrument the person(s1, or the entity upon behalf of which the WITNESS my hand and official seal. Notary Public in and for said County and State 573 EXHIBIT A RATE AND METHOD FOR DETERMINING FAIR SHARE OBLIGATION RANCHO SANTA FE AND OLIVENHAIN ROAD The City Council shall use the following rate and method for determining the fair share obligation for funding the construction of Rancho Santa Fe and Olivenhain Road due from property conditioned to participate in the financing of these facilities. This calculation is done as part of an agreement titled PETITION, WAIVER AND CONSENT TO CREATION OF A COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE (Agreement) which has been voluntarily entered. into by the City of Carlsbad and certain- property owners wishing to proceed with development of their property in advance of the creation of Community Facilities District No. 2(CFD No. 2). . It is the City and property owners intent to form CFD No. 2 to provide funding for those improvements described within the above-referenced agreement. - The following rate and method shall be used to determine the fair share and amount due from any property owner wishing to take advantage of this alternate funding mechanism. Basis for Cost Allocation The basis for allocation of costs to property conditioned with the financing of the improvements described in the Agreement shall be the Equivalent Dwelling Unit (EDU) which is defined as follows for residential developments: .. - Residential EDU Allocation Single-Family - Detached Units 1 .O EDU Single Family 2 Attached Units 0.8 EDU Multi-Family Units 0.6 EDU . . ,. 574 The number of each type of unit included in a development shall be determined by the City Engineer based on the most recent final map submitted to the City for approval. The EDU determination for non-residential development shall be made by the City Engineer when such a determination is requested by the property owner. The City Engineer may request additional information from any property owner as may be necessary to make his determination. The City Engineer is not required to make a determination on the number of EDUs for any project until adequate information is available. .. The City Engineer's determination shall be submitted to the City Council in the table below. The City Council shall make the final determination of the number of EDUs to be used in computing the fair share obligation for any project. Fair Share Amount and Method of Pavment The City shall collect $10,250 for each EDU as determined by the City Council. This amount shall be collected in one payment of $10,250 per EDU to be paid prior to Council consideration of final map approval as described below. 1) Prior to the approval of a final map by the City Council, the property owner shall pay to the City an amount equal to the number of EDUs included in said final map, as determined by the City Engineer, times $10,250. If the City Council determined that the City Engineer's calculation of the number of EDUs included on the final map is in error, the Council shall direct the City Engineer to amend his calculations and direct staff to bring the final map back for approval when such correction has taken place. Funds must be paid to the City before the final map will be scheduled for Council consideration. .- A 5 75 Computation of Fair Share Obligation CTSB-43- Units 1 and 2 Type of Unit EDU Cost per Unite Amount per Unit Cowred DUE Agreement unit by Single Family- 1 .O $10,250 455 $4.663.750 detached units I I I I I TOTAL 455 $4.663.750 2) If the property owner has already obtained a final map for units conditioned with the financing of Rancho Santa Fe and Olivenhain Road, the property owner shall pay to the City the net amdunt due shown above prior to entering into this agreement. EXHIBIT "B" Page 1 of 4 576 LEG?& DESCRIPTION THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE COUNTY OF SAN DIEGO, AND IS DESCRIBED AS FOLLOWS: PARCEL A: ALL OF LOTS 3 AND 4 OF FRACTIONAL SECTION 1 AND PORTION! STATE OF CALIFORNIA, ACCORDING TO OFFICIAL PLAT THER~OF, 4 WEST, SAN BERNARDINO BASE AND MERIDIAN, IN THE COUNTY 3, 5, 6, 7 AND 0 OF FRACTIONAL SECTION 2, IN TOWNSHIP 1 LOT 2 AbTD X PORTION CF LOTS 1 AiiD 11 OF WCHCJ US iEKC COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO Ir 040, FILED IN THE OFFICE OF THE COUNTY RECORDER OF!SAN JUNE 27, 1898, DESCRIBED AS A WHOLE AS FOLLOWS: OF CALIFORNIA, 3 OF LOTS 1, 2. ,3 SOUTH, RANGE ' OF SAN DIEGO, , TOGETHER WITH 'IIJITAS, IN THE tAP THEREOF NO. ' DIEGO COUNTY, BEGINNING AT THE NORTHEAST CORNER OF SAID LOT i2 OF RANCHO LA9 ENCINITAS; THENCE ALONG THE NORTHERLY BOUNDARY 0 SAID RANCHO LAS ENCINITAS, NORTH 76°21'30" EAST, 892.92 FEET TO TH EASTERLY LINE OF NORTH 1'35 ' 31" EAST, 1094.53 FEET TO THE NORTHEAST ORNER OF SAID LOT SAID LOT 3 OF FRACTIONAL SECTION 1; THENCE ALONG AID EASTERLY LINE 3 ; THENCE ALONG THE NORTHERLY LINE OF SAID FRACTION . SECTION 1, NORTH 89°17'26" WEST, 1683.77 FEET TO AN ANGLE POINT THEREIN; THENCE CONTINUING ALONG SAID NORTHERLY LINE AND ALONG THE 1 NORTHERLY LINE OF SAID FRACTIONAL SECTION 2, NORTH 89O17'41" WEST, 99 .40 FEET AN ANGLE POINT IN THE SOUTHERLY BOUNDARY OF THE LAND DESCRI ED IN EXECUTORS' DEED AND CONSERVATORS DEED TO W. B. DALITZ, RECOR ED SEPTEMBER 19, 1969 As FILE NO. 164971 OF OFFICIAL RECORDS; ENCE ALONG THE TO AN ANGLE POINT AND SOUTH 56O30'28" HIEST, 1100.64 EET TO A POINT IN THAT CERTAIN 90 FOOT STRIP OF LAND AS DESCRIBED IN E ECUTOR' S DEED AND CONSERVATORS' DEED TO THE COUNTY OF SAN DIEGO, REC DED FEBRUARY 16, 1970 AS FILE NO. 27777 OF OFFICIAL RECORDS AND AGS BEING A POINT IN A NON-TANGENT 1970.0 0 FOOT RADIUS CLTRVE, CDNCAVE NCRTHEASTERLY, A RADIAL LINE TO SAID POINT BEARS SOUTH 58"40'29" WEST THENCE ALONG THE EASTERLY LINE OF SAID ROAD SURVEY AS FOLLOWS: SOUTHEASTERLY ALONG SAID CURVE THROUGH AN ANGLE 0 4O56' 20" AN ARC DISTANCE OF 169.81 FEET, TANGENT TO SAID CURVF, SOUT 36'15'51" EAST, 291.95'FEET TO THE BEGINNING OF A TANGENT 2045.00 F OT RADIUS CURVE, CONCAVE WESTERLY, SOUTHERLY ALONG SAID NRVE THR UGH AN ANGLE OF 32°30'56'1 AN ARC DISTANCE OF 1160.54 FEET, TANGE T TO SAID CURVE SOUTH, 3O44'55" EAST, 1061.59 FEET TO THE BEGINN NG OF A TANGENT 9045.00 FOOT RADIUS CURVE, CONCAVE WESTERLY AND SO ERLY ALONQ SAID CURVE THROUGH AN ANGLE OF 3001'18" AN ARC DISTANCE F 477.02 FEET TO SOUTHEASTERLY BOUNDMY OF SAID LAND SOUTH 6eo25'3111 ST, 1851.09 FEET I THE EASTERLY LINE OF COVNTY OF SAN DIEGO ROAD SURVEY NO, 1800-1, BEING t? i I I 5 77 EXHIBIT "B" Page 2 of 4 - THE SOUTHERLY LINE OF THE LAND DESCRIBED IN DEE TO THE HEIRS OR DEVISEES OF FRIEDA C. WIEGAND, DECEASED, ET AL, RE $ ORDED FEBRUARY 25, 1971 AS FILE NO. 35748 OF OFFICIAL RECORDS; SOUTHERLY LINE, RADIAL TO LAST SAID CURVE NORTH 89O EAST, 398.31 ENCE ALONG SAID FEET TO AN INTERSECTION WITH THE WESTERLY LINE ENCINITAS; THENCE ALONG SAID WESTERLY SAID RANCHO LAS 686.02 FEET TO AN INTERSECTION WITH THE WEST NORTHERLY LINE OF LOT 12 OF SAID RANCHO LAS NGATION OF THE SAID WESTERLY PROLONGATION AND SAID NORTHER ; THENCE ALONG EAST, 698.33 FEET TO THE WESTERLY LINE OF THE ORTH 87O30'15" SAID LOT 11 OF RANCHO LA9 ENCINITAS; THENCE 505.00 FEET OF NORTH Z055'51" WEST, 2107.50 FEET TO THE WESTERLY LINE SOUTHERLY 2107.50 FEET OF SAID LOT 11; LINE OF THE LINE NORTH 87°30'15'1 EAST, 2505.00 FEET TO T LOT 11 OF WCHO LAS ENCINITAS: THENCE. ALONG NE OF SAID 2O55'51" WEST, 526.98 FEET TO THE SOUTHEAST LINE NORTH RANCHO LAS ENCINITAS; THENCE ALONG THE EASTERLY D LOT 2 OF NORTH 1°58'05" WEST, 807.94 FEET TO THE POINT OF SAID LOT 2 EXCEPTING THEREFROM THOSE PORTIONS LYINQ WITHIN C 03-1, ARROYO LACOSTA, UNIT 1 (VILLAGE 1) , ACCORD1 13385, FILED IN THE OFFICE OF THE COUNTY RECORDER DECEMBER 20, 1996, AND LYING WITHIN CARLS LACOSTA UNIT 2 (VILLAGES G, 8, J, P, Q, THEREOF NO. 13386, FILED IN THE OFFICE 0 DIEGO COUNTY, DECEMBER 20, 1996, BOTH IN OF SAN DIEGO, STATE OF CALIFORNIA. THEREOF NO. CCORDING TO MAP RECORDER OF SAN CARLSBAIJ, COUNTY AFFECTS PARCEL NOS.: 255-030-11, 255-03 PARCEL B: I ALL THAT PORTION OF LOTS 1 AND 2 IN SECTION 1, T( RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN, ACCC ENCINITAS, ACCORDING TO MAP THEREOF NO. 848, FILED PLAT THEREOF AND ALL THAT PORTION OF LOTS 3 AND THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE 0 THE COUNTY RECORDER CF SAN DIEGO COUNTY, JUNE 27, 1 DESCRIBED AS A WHOLE AS FOLLOWS: bo IR !a F BEGINNING AT THE SOUTHWEST CORNER OF SAID SECTION 31 SOUTHERLY LINE OF SAID SECTION 31, SOUTH 89O51'26" E BEGINNING; THENCE RETRACING SOUTH 71°00'00" WEST, 1: THENCE NORTH 71000'00'1 EAST, 1545 .OO FEET TO TI SOUTHERLY LINE OF SAID SECTION 31; THENCE ALONG SA NORTH 89051'26" WEST, 280.00 FEET TO THE SOUTHWES SECTION 31, BEING ALSO A POINT ON THE NORTHERLY LIN 1, TOWNSHIP 13 SOUTH, RANGE 4 WEST, SAN BERNARDINO E JNSHIP 13 SOUTH, DING TO OFFICIAL P OF RANCHO LAS IN THE OFFICE OF 98, ALL BEING IN CALIFORNIA, AND THENCE ALONG THE ST, 280.00 FEET; ~ TRUE POINT OF ;5.00 FEET TO THE D SOUTHERLY LINE CORNER OF SAID 9E AND MERIDIAN; OF SAID SECTION 578 v EXHIBIT "B" Page 3 of 4 THENCE ALONG SAID NORTHERLY LINE NORTH 89O51'52" THE NORTHWEST CORNER OF LOT 2 IN SAID SECTION 1: 956.82 FEET TO ALONG THE WEST LINE OF SAID LOT 2, SOUTH 1094.53 FEET TO THE LOT 3 OF RANCHO LAS ENCINITAS; THENCE ALONG SA1 Y LINE OF SAID 75O47'10" WEST, 892.92 FEET TO THE NORTHWEST Y LINE SOUTH THENCE ALONG THE WESTERLY LINE OF SAID LOT 3, SAID LOT 3; 340.00 FEET; THENCE LEAVING SAID WESTERLY LINE NO 32'35" EAST, 3350.00 FEET, MORE OR LESS TO THE CENTER LINE OF 7"30'00" EAST, NO. 454 - KNOWN AS RANCHO SANTA FE ROAD - AS DESCR TY ROAD SURVEY COUNTY OF SAN DIEGO, RECORDED JANUARY 21, 1930 IN IN DEED TO THE DEEDS; THENCE NORTHERLY AND NORTHEASTERLY ALONQ 1737, PAGE 4 OF LINE WHICH BEARS SOUTH 52°00'00'1 EAST FROM CENTERLINE TO A BEGINNING; THENCE NORTH 52°00'00" WEST, 485.00 FE TRUE POINT OF OF BEGINNING. 0 THE TRUE POINT EXCEPTING THEREFROM THAT PORTION THEREOF LYI NORTHERLY AND AFFECTS PARCEL NO. 255-030-09. PARCEL C: THAT PORTION OF LOTS 3, 4, 9 AND 10 OF RANCHO LAS NCINITAS, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING 0 MAP THEREOF NO. JUNE 27, 1898, DESCRIBED AS FOLLOWS: 848, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, WESTERLY LINE OF SAID LOT 3, SOUTH 02O31'38" EAST, 40.00 FEET TO THE COMMENCING AT THE NORTHWEST CORNER OF SAID LOT 3; THENCE ALONG THE BOUNDARY SOUTH 02O31'38" EAST, 468.13 FEET TO THE N RTHWEST CORNER OF TRUE POINT OF BEGINNING; THENCE CONTINUING ALO 0 SAID WESTERLY SAID LOT 10; THENCE ALONG THE WESTERLY LINE OF S ID LOT 10, SOUTH 03O29'27" EAST, 760.00 FEET; THENCE CONTINUING AL NO SAID WESTERLY LINE SOUTH 03O29'27" EAST, 1869.70 FEET TO THE SO 1 HWEST CORNER OF SAID LOT 10, SAID CORNER BEING IN THE CENTER LINE ROAD, EXHIBIT "B" Page 4 of 4 5 79 - A LINE WHICH BEARS NORTH 87O30'00" EAST, FROM THE TRUE POINT OF BEGINNING; THENCE SOUTH 67°30'00" WEST, 3350.00 FEET, MORE OR LESS, TO THE TRUE POINT OF BEGINNING. NO. 2, CARLSBAD TRACT NO. 83-16, IN THE CITY OF CJIRLSBAD, COUNTY OF EXCEPTING THEREFROM LOTS 1 THROUGH 86 INCLUSIVE OF &ANTA FE RIDGE UNIT FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP HEREOF NO. 10857, FEBRUARY 26, 1984. AFFECTS PARCEL NOS. 255-031-24 AND 255-031-25. T I PARCEL D: LOTS A, B, c AND 1 THROUGX 127 IYCLUSIVE, OF CMLSB+ TRACT NO. 88-03- OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP VHEREOF NO. 13385, 1, ARROYO LACOSTA, UNIT 1 (VILLAGE 1) , IN THE CITY OF CARLSBAD, COUNTY DECEMBER 20, 1996. FILED IN THE OFFICE OF THE COUNTY RECORDER OF AN DIEQO COUNTY, PARCEL E: LOTS 128 THROUGH 484 INCLUSIVE, OF CARLSBAD TRACT N LACOSTA, UNIT 2 (VILLAGES G, H, J, P, Q, R AND S CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA THEREOF NO, 13386, FILED IN THE OFFICE OF THE COUN DIEGO COUNTY, DECEMBER 20, 1996. 88-03-2, ARROYO IN THE CITY OF ACCORDING TO MAP RECORDER OF SAN