HomeMy WebLinkAboutCT 98-10; Fenton Raceway LLC; 2005-0371021; Petition & WaiverRECORDING REQUESTED BY:
Carlsbad City Clerk’s Office
WHEN RECORDED MAIL TO:
City Clerk
City of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, CA 92008
DOC # 2005-0964620
NOV 04,2005 4:33 PM
OFFICIAL RECORDS Sm4N DIEGO COUNTY RECORDER’S OFFICE GREGURYJ SMITH, COUNTY RECORDER
FEES 1900 5 PAGES
~
SPACE ABOVE THIS LINE FOR RECORDER’S USE
Amendment No. 1 to Waiver and Consent to Creation of the
Communitv Facilities District (CT 98-1 0)
Fenton Raceway LLC
Recorded original May 3, 2005 as Document No. 2005-0371021.
&? \%J 2bq 94- 09
:\County Recorderkecorder Cover Sheet.doc
Amendment No. 1 to Waiver and Consent to Creation of the
Community Facilities District (CT 98-10)
WHEREAS, the City of Carlsbad (“City”) and Fenton Raceway LLC (“Property Owner”)
entered into that certain “Waiver and Consent to Creation of a Community Facilities District and
Agreement to Pay Fair Share Cost of CT 98-10” dated October, 2004 (the “Original
Agreement”); and
WHEREAS, Section 4(b) of the Original Agreement requires, among other things, that Property
Owner deposit with the City a letter of credit or cash (the “Deposit”) equal to Property Owner’s
fair share of the cost of the extension of Faraday Avenue between Orion Way and Melrose Drive
(the “Faraday Avenue Extension”) prior to the transfer of a fee simple interest in all or any
portion of CT 98-10 or issuance of a building permit for the first commercial structure to be
constructed within CT 98- 10; and
WHEREAS, since execution of the Original Agreement, all of the right-of-way for the Faraday
Avenue Extension has been dedicated to the City, all resource agency permits required for the
Faraday Avenue Extension have been obtained by the City and performance bonds have been
provided for completion of the Faraday Avenue Extension; and
WHEREAS, all of the participating property owners in the Community Facilities District (the
“CFD’) proposed to finance the Faraday Avenue Extension, among other improvements, have
executed agreements like the Original Agreement consenting to the formation of the CFD to
finance their fair share of the costs of the Faraday Avenue Extension; and
WHEREAS, the Property Owners in the proposed CFD continue to cooperate and work
diligently toward its formation which is expected to occur soon and within the year but after the
sale of the first commercial lot; and WHEREAS this amendment shall be recorded to, among
other things, insure that prospective purchasers are aware of this contingent obligation; and
WHEREAS, Property Owner has commenced construction of the Melrose Improvements
required by the approvals for CT 98-10 pursuant to the Original Agreement and applicable
subdivision improvement agreements.
NOW, THEREFORE7 in consideration of proceeding with the formation of the CFD, the
processing of CT 98-10 and commencement of the Melrose Improvements, the Property Owner
and City hereby agree to the following:
1. Section 4(b) of the Original Agreement shall be amended as follows:
Property Owner’s payment of its Fair Share, initially estimated to be in an amount not
to exceed $3,362,713, shall be secured by the posting of cash or a letter of credit with
the City of Carlsbad, in a form and from a financial institution acceptable to the
Finance Director, within ninety (90) days of a demand to the owner by the Finance
Director. If not paid or an extension of the demand for payment is made by the City
Council, the Property owner and its successors in interest agree that the obligation
shall become a lien on all parcels within the subdivision and shall be entitled to
enforcement, collection and priority as a tax lien.
8/16/05 4083.3
H&O: #25864 vl
2.
and effect.
Except as modified herein the Original Agreement shall remain in full force
16w Executed this - day of September, 2005
FENTON RACEWAY LLC, a California limited
liability company
By: H.G. FENTON COMPANY, a California
By:
Title: \
CITY OF CARLSBAD, a munici
the S
By:
Title: Mayor
ATTEST:
Title Assistant-Cityuerk
APPROVED AS TO FORM:
Name: RONALD R. BALL 9.
Title: City Attorney
8/16/05 4083.3
H&O: #25864 vl
CALIFO'RNIA ALL-PURPOSE ACKNOWLEDGMENT
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
On September 12, 2005 before me, Clare Chavez, Notarv Public ,
personally appeared , personally known to me 7
to be the person(s) whose name(s) Mare subscribed to the within
Allen M. Jones and Kari Prevost
instrument and acknowledged to me that 4ekMthey executed the same in Wtheir authorized
capacity(ies), and that by hishedtheir signature(s) on the instrument the person(s), or the entity upon
behalf of which the person@) acted, executed the instrument.
WITNESS my hand and official seal. b Signature of Notary Public
(SEAL)
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DESCRIPTION OF ATTACHED DOCUMENT:
Title or Type of Document:
Date of Document:
Number of Pages:
Signer(s) Other than Named Above:
CAPACITY(IES) CLAIMED BY SIGNER:
Signer's Name: Signer's Name:
0 Individual
0 Corporate Officer:
Title(s):
0 Partner: -- 0 Limited 0 Individual
0 Attorney-in-Fact
0 Trustee
0 Guardian or Conservator 0 Other:
Signer is Representing:
0 Individual
0 Corporate Officer:
Title(s):
0 Partner: -- 0 Limited 0 Individual
0 Attorney-in-Fact 0 Trustee
0 Guardian or Conservator
0 Other:
Signer is Representing:
4
I.
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
a } SS.
State of California
County of SA0 3rE &-a
On 4- /6-2005 , before me, xs#beu TDUIfl /?h&i.&F fib ,
Date Name and XUe of Officer (e g ,“Jane Doe, Notary Pubbc”)
personally appeared A. hlS Am U&L/m j!! . /&ua-rZ ,
Name@) of Signer@)
personally known to me 8- proved to me on the basis of satisfactory
evidence
to be the person(s) whose name(s) Ware
subscribed to the within instrument and
acknowledged to me that-kefekelthey executed
the same in -/their authorized
capacity(ies), and that by +i&ter/their
signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s)
acted, executed the instrument.
c
Place Notary Seal Above
WITNESS my hand and official sed
I - Signatueof Notary Public
0 PTlONAL
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:
Document Date: Number of Pages:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer ~~ .. . Signer’s Name:
Individual
Corporate Officer - Title(s):
Partner - 0 Limited 0 General
Attorney in Fact
0 Trustee
0 Guardian or Conservator
0 Other:
Signer Is Representing:
0 1997 National Notary Association * 9350 De Soto Ave.. P.O. Box 2402 * Chatsworth, CA 9131 3-2402 Prod. No. 5907 Reorder. Call Toll-Free 1-800-876-6827
.
1 . RECORDED REQUEST 012 First Am erictin Ti?k
SUBDIVISION MAPPING umr.
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
DOC # 2005-0371 021 I ll1111ll111 lllll111ll Ill11 111ll Ill11 11111 lllll Ill11 IIIII 11111 1111 1111
MAY 03,2005 350 PM
O FFI ClkL HE CO R D 5
GREGURY J SMITH CIICINTY RECORDER FEES u IOU
PAGES 17
‘?#&ti DIEGO COUNTY RECORDER’S OFFICE
City City of Clerk Carlsbad 17274
I111111 11111 11111 11111 11111 11111 Ill11 Ill11 11111 11111 1111 11111 11111 Ill11 1111 1111 1200 Carlsbad Village Drive
Carlsbad, CA 92008
Space Above Line For Recorder’s Use
2005-0371021 WAIVER AND CONSENT TO
CREATION OF A COMMUNITY FACILITIES DISTRICT
AND AGREEMENT TO PAY FAIR SHARE COST
OF CT 98-10 (“AGREEMENT”)
WHEREAS, the undersigned Property Owner 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 98-10 (hereinafter referred to as the “Project”); and
WHEREAS, the legal description for the property included in the Project (the
“Property”) is shown on Exhibit “A” attached hereto and incorporated herein by
reference; and
WHEREAS, City has determined this Project is located within the boundaries of a
proposed Community Facilities District known as Community Facilities District No. 3,
(Faraday Ave. and Melrose Drive) (hereinafter referred to as the “District”); and
WHEREAS, the District is intended to be formed to finance those improvements
generally described in Section 1 herein; and,
WHEREAS, Property Owner desires to obtain City approval of a final subdivision
map for the Project prior to the formation of District; and,
265359-1 1
J
17875
WHEREAS, a condition of approval of Tentative Tract Map CT 98-10 states:
“Prior to recordation of a final map or issuance of a grading permit, whichever occurs
first, a financial guarantee for the construction, as specified in the appropriate agency
permissions, of Faraday Avenue extension between Orion Way and Melrose Drive shall
be approved by the Carlsbad City Council” (the “Tentative Map Condition”); 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 improvement of Faraday Avenue as described in Section 1 herein that
will allow Property Owner to discharge its fair share obligation for said improvement in
lieu of, or in anticipation of, participation in District; and,
WHEREAS, the City Council agree that Property Owner, upon entering into and
complying with the terms of this Agreement including, without limitation, the terms for
payment of the fair share described herein, has met the requirement set forth in the
Tentative Map Condition, to provide a financial guarantee for the construction of the
improvement of Faraday Avenue described in Section 1 below; and,
WHEREAS, the Property Owner voluntarily enters into this Agreement with
respect to the Project; and,
WHEREAS, the City Council has determined that in consideration of the
improvement phasing program described below, 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 Faraday Avenue;
265359-1 2
NOW, THEREFORE, in consideration of proceeding with the processing of the
Project, the undersigned Property Owner and City hereby agree and certify to the
following:
1. Property Owner has previously petitioned 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
T improvement^'^) which are generally described as follows:
(a) Palomar Airport Road widening from west of Melrose Dr. to the
Vista City limits (“Palomar”);
(b)
(c)
Faraday Ave. from Orion St. to Melrose Dr. (“Faraday Avenue”);
Melrose Dr. from Palomar Airport Rd. to the Vista City limits
(“Melrose”);
(d) Melrose Drive construction of right turn lane south of Palomar
Airport Road;
(e)
Faraday Avenue.
2.
El Fuerte from northerly terminus to the future extension of
The cost of construction, engineering, environmental mitigation, legal and
other incidental expenses of the Improvements will be funded by the District if and when
formed.
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,” and
hereby 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
265359-1 3
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.
4. (a) Property Owner agrees to pay to City, or provide its fair share of
the costs of the Faraday Avenue improvements (“Fair Share”) as set forth below.
(b) Property Owner’s payment of its Fair Share, initially estimated to
be in the amount of $3,362,713, shall be secured by the posting of cash or a letter of
credit, in a form and from a financial institution acceptable to the City Finance Director,
prior to the earlier of (i) transfer of a fee simple interest in all or any portion of the
Property or (ii) issuance of a building permit for the first commercial structure to be
constructed within the Project. If any portion of the Property is transferred without the
posting of the required security, both the succeeding property owner and Property Owner
shall be jointly and severally responsible for providing the required security.
(c) The Property Owner’s Fair Share will be conclusively determined
by the City Council in the manner described in Exhibit “B” attached hereto and
incorporated herein by reference based upon (i) the actual costs of Faraday Avenue or
such other alternative improvements found by the City Council to be functionally
equivalent to Faraday Avenue (“Functionally Equivalent Improvements”), if the District
is not formed, or (ii) according to the methodology used to establish the spread of special
taxes of the District, if the District is formed.
265359-1 4
(d) Any funds paid to the City shall be held in an interest-bearing
account and disbursed only for use in the construction of Faraday Avenue or the
Functionally Equivalent Improvements.
(e) Alternatively, if the District is formed and the Project is included
within it, Property Owner’s obligation to pay its Fair Share pursuant to this Agreement
shall be satisfied upon formation of the District through the issuance of bonds and levy of
special taxes of the District. In addition, within a reasonable time after formation of the
District all funds held by the City provided by the Property Owner pursuant to this
Agreement that have not been previously expended for Faraday Avenue or Functionally
Equivalent Improvements will be returned to the Property Owner or any letter of credit
provided on behalf of the Property Owner pursuant to this Agreement will be released.
For purposes of this Section 4(e), “formation of the District” shall mean (i) the District
has been established and authorized to finance the Faraday Avenue improvements,
among others, (ii) the qualified electors of the District have authorized the special taxes
and bonded indebtedness of the District and (iii) the limitations period has expired for
challenging such election.
(f) Property Owner agrees to construct Palomar and Melrose in
accordance with its conditions of approval and the applicable Subdivision
Improvement(s) Agreements for CT 98- 10.
5. Property Owner acknowledges that this Agreement to pay its Fair Share
and participate in the financing of the Faraday Avenue improvements is voluntary and
that without this Agreement, Property Owner would be precluded from obtaining final
map approvals or building and other development permits under the provisions of the
265359-1 5
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 Faraday Avenue improvements.
6. Property Owner hereby waives its 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 the Property by the applicable tentative map CT
98-10 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, et. seq. or
any successor or related statutes.
(a) 9. In the event no District is formed, funds on deposit will be utilized
only as a fair share of costs to otherwise complete Faraday Avenue or Functionally
Equivalent Improvements.
(b) If the actual Fair Share obligation is lower than the amount
previously deposited or provided by Property Owner to City, City shall refund any
excess, in the manner described in this Section 9 and in Section 10 below.
265359-1 6
(c) Any refund shall be made from funds available within District
upon District formation or the completion of construction of Faraday Avenue or the
Functionally Equivalent Improvements and shall not be an obligation of City’s General
fund or other revenue sources.
(d) No reimbursement is required unless and until the City Council
determines that sufficient funds are available to complete construction of Faraday
Avenue or the Functionally Equivalent Improvements.
10. (a) Upon completion of Faraday Avenue or the Functionally
Equivalent Improvements, and recording of the Notice of Completion for the final phase
of the construction, the City Engineer shall determine the total cost of all construction
and all related work (“Costs’’), and the Finance Director shall determine the total amount
of revenue including fees, taxes, interest earned on funds received by the City dedicated
to paying for such construction (“Revenues”). The Finance Director shall then compare
the amount of Costs and Revenues to determine if there are any excess Revenues in an
amount and in the manner described below. If excess Revenues are equal to, or less than
$10,000, the City shall retain these funds in a special fund to be used to finance street
repair, maintenance, and landscaping of the improvements.
(b) The total amount of excess Revenues shall be determined by
deducting the amount of the 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 Faraday Avenue or the
265359-1 7
Functionally Equivalent Improvements including any fee revenues earmarked for the
Project, CFD No. 3 taxes and bond proceeds, grants, and interest earned on restricted
funds as determined by the Finance Director.
(c) The amount of the refund due to Property Owner shall be based on
its proportionate share of the Costs and Revenues as determined in accordance with
Exhibit B.
(d) 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 construction. Each request must be
accompanied by documents indicating clear title to the refund unless the request is being
made by the party who originally paid the funds to the City pursuant to this Agreement.
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 right to any
refunds under this section is 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 to 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.
265359-1 8
(e) The Finance Director shall compute the amount of the refund due
the Property Owner as described above. Funds may be reimbursed to the Property Owner
following City Council approval of such reimbursement.
11. Compliance with this Agreement will be accepted by City as the financial
guarantee for Faraday Avenue required by the Tentative Map Condition.
12. 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 all applicable provisions of law, including but not limited to Carlsbad
Municipal Code Titles 18, 19,20 and 2 1.
13. Compliance with the provisions of this Agreement is a condition of all
future discretionary approval for the Project. If 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 the City.
14. 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.
15. 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.
265359-1 9
16. City shall not, nor shall any officer or employee of the 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 Owner’s buildings, as a result
of the exercise of any remedies provided to the 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.
17. 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 Property only and City, and shall run with the Property and
create an equitable servitude upon the Property.
18. 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 mailing regardless
of receipt by Property Owner. Notices required to be given to Property Owner and/or
City shall be addressed as follows:
Notices to the City shall be delivered to the:
Finance Director
City of Carlsbad
1635 Faraday Avenue
Carlsbad, CA 92008
Notices to Property Owner shall be delivered to:
Fenton Raceway LLC
c/o H.G. Fenton Company
Attn: Allen Jones
7588 Metropolitan Drive
San Diego, California 921 08-440 1
265359-1 10
Each party shall notify the other of any change that would require any notice delivered
hereunder to be directed to another party.
19. This Agreement shall be recorded but shall not create a lien or security
interest in the Project.
[Text resumes on Page 12 with Section 201
265359-1 11
20. The undersigned Property Owner further states, under penalty of perjury,
that he is owner of the property as described in Exhibit “A”, or an authorized agent of the
Property Owner, and has the authority to execute this document, including the binding
authorization herein.
Dece&- Executed this 2 day of 0&&w, 2004.
FENTON RACEWAY LLC,
a California limited liability company
By: H.G. FENTON COMPANY,
a California corporation, its Manager
By:
Title: Y/Cgd 1
By:
/
CITY OF C~RLSBAD, a m&l corporation of
Title: Mayor
ATTEST:
Name: ISABELLE .J? PAULSEN
Title: Deputy Clerk
APPROVED AS TO FORM:
265359-1 12
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
ISABELLE JOVITA PAULSEN
Name and Title of Officer (e g , "Jane Doe, Notary Public") On March 31, 2005 , before me,
personally appeared CLAUDE A LEWIS
Date
9 Name@) of Signer@)
I
Place Notary Seal Above
kpersonally known to me
0 proved to me on the basis of satisfactory
evidence
to be the personb whose nameb is/-
subscribed to the within instrument and
acknowledged to me that hekhefhy executed
the same in his/h&+mr ' authorized
capacitw, and that by his-
signatureMon the instrument the personw, or
the entity upon behalf of which the personh
acted, executed the instrument.
WITNESS my hand and official seal,
# OPTIONAL
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 Waiver and Consent to Creation of a
Title or Type of Document: Community Facilities District and Agreement to Pay Fair Share Cost of CT 98-10
Document Date: December 2 , 2004 Number of Pages: 15
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer
Signer's Name: CLAUDE A. LEWIS
0 Individual
Q Corporate Officer - Title(s): MAYOR 9 CITY OF CARLSBAD
0 Partner - 0 Limited 0 General
0 Attorney in Fact
0 Trustee
0 Guardian or Conservator
0 Other:
Signer Is Representing: CITY OF CARLSRAD
0 1997 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 Chatsworth, CA 91313-2402 Prod. No. 5907 Reorder Call Toll-Free 1-800-876-6827
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
STATE OF CALIFORNIA 1
COUNTY OF SAN DIEGO 1 1 ss
On December 2,2004 before me, Clare Chavez, Notary Public I
personally appeared e to be the person(s) whose name(s) &are subscribed to the within
instrument and acknowledged to me that b,4shdthey executed the same in htskedtheir authorized
capacity(ies), and that by hdhedtheir signature(s) on the instrument the person(@, or the entity upon
behalf of which the person(s) acted, executed the instrument.
Allen M. Jones and Michael Neal , personally known to me 7
WITNESS my hand and official seal.
Signature of Notary Public 0 (SEAL)
OPTIONAL
Though the data 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:
Date of Document:
Number of Pages:
Signer(s) Other than Named Above:
CAPACITY(IES) CLAIMED BY SIGNER:
Signer's Name: Signer's Name:
0 individual
0 Corporate Officer:
Tit le (s) :
0 Partner: -- 0 Limited 0 Individual
0 Attorney-in-Fact
0 Trustee
0 Guardian or Conservator
0 Other:
Signer is Representing:
0 Individual 0 Corporate Officer:
Titie(s):
0 Partner: -- 0 Limited 0 Individual
0 Attorney-in-Fact
0 Trustee
0 Guardian or Conservator
0 Other:
Signer is Representing:
1 ,Clyde Yickham - legal.doc . Page I
November 30,2004
J.N. 98-1012-3
Exhibit “A”
Legal Description
Lots 1 through 28 inclusive, of Carlsbad Tract No. 98- 10, in the City of Carlsbad, County of San
Diego, State of California, according to Map No. I 3, filed in the office of the county
recorder of San Diego County on &xgis file no!2&5-o 3 71 0 fwa -official
records.
n-n---,., 6
b5-037102
EXHIBIT B
METHODOLOGY OF COST ALLOCATION
265359-1 14
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