HomeMy WebLinkAbout1969-10-07; City Council; Resolution 1659RESOLUTION NO. 1 659
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING CERTAIN DOCU- MENTS AND RESCINDING THE ORDERS AND RESOLUTIONS IN CONFLICT HEREWITH.
WHEREAS, on April 19, 1966, the City Council determined
that it was necessary that a Parking Authority be established
within the City of Carlsbad pursuant to the Parking Law of 1949
(Sections 32,539 et seq.) of the Streets and Highways Code; and
WHEREAS, this City Council has approved certain
documents which relate to a financing by said Parking Authority
through which municipal parking facilities would be acquired
by said Authority and leased to the City; and
WHEREAS, it is necessary that'certain revised docu-
ments be approved by this City Council in order that said
financing program may be completed;
NOW, THEREFORE, the City Council of the City of
Carlsbad, California,does hereby FIND, RESOLVE, DETERMINE
and ORDER as follows:
Section 1. That the certain Grant Deed attached
hereto as Exhibit A, by which said Parking Authority would
take title to said parking facilities referred to in the
recitals hereof be and the same hereby is approved.
Section 2. That that certain Lease Agreement dated
August 21, 1969 by and between the Parking Authority of the
City of Carlsbad and the City of Carlsbad, attached hereto
as Exhibit B, be and the same hereby is approved, and the Mayor
and the City Clerk are hereby ordered and directed to execute
said Lease by and on behalf of the City.
Section 3. That that certain Resolution No. 5 of said
Parking Authority entitled "Resolution Of The Parking Authority
Of The City Of Carlsbad, California, Authorizing The Issuance Of
$1,535,933 Bonjs Of Said Authority And Providing The Terms And Condi-
tions For The Issuance Of Said Bonds" providing for the issuance of
bonds and describing the terms and conditions therefor, attached
hereby as Exhibit C, be and the same hereby is approved.
Section 4. That said Parking Authority sold the
bonds described in the r.esolution referred to in Section 3 hereof
at public sale for the price and at the interest rates set
forth on that certain resolution of said Parking Authority
attached hereto as Exhibit D, and that said sale and award be
and the same are hereby approved.
Section 5. That said Parking Authority has approved
a contract pursuant to which Security Pacific National Bank would
act as Fiscal Agent for said Authority for the purpose of
making payments of principal and interest on said bonds and for
the proper administration of funds in connection therewith
and that said Fiscal Agency Agreement, attached hereto as Exhibit
E, be and the same hereby is approved.
Section 6. That in order to facilitate the completion
of the financing referred to herein and the acquisition of -said
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parking lot by said Parking Authority, the Mayor and City Clerk
are hereby authorized and directed to execute escrow instructions
in such form as may be determined by the City Attorney to be
proper to carry out the obligations of the parties.
Section 7. That all prior orders, resolutions, and
other actions of this City Council which are inconsistent with
or in conflict with this resolution be and the same are hereby
rescinded, repealed and shall be of no further force and effect.
ADOPTED, SIGNED AND APPROVED this 7th day of October,
1969
California
ATTEST:
k of F Ru the City of Caris@, California
(SEAL)
, _.
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO ss.
CITY OF CARLSBAD
I, Margaret E. Adams, City Clerk of the City of
Carlsbad, California, EO HEREBY CERTIFY that tho foregoing resolution was duly adopted by the City Council of said City
and was approved by the Mayor of said City at areaular of said City Council held on the 7th, day of ctober 1969, and that it was adopted by the following vtte, to wit:
meet ing
9
AYES: Councilmen Dunne, McComas, Jardine,
Nei swender, and Castro.
NOES: None.
ABSENT: None.
d, California
STATE OF CALIFQRNIA
COUNTY OF SAN DIEGO 1 ss.
CITY OF CARLSBAD
I, Margaret E. Adams, City Clerk of the City of Carlsbad,
California, co! HEREBY CERTIFY that the above and foregoing is a
full, true and correct copy of Resolution No.1659 and that the same has not been amended or repealed.
DATED October 7 , 1969 Cltf C$J2/;rk of the ciky of
Carlswd, California
( SEAL )
GRANT DEED
The undersigned PLAZA CAMINO REAL, a Limited
Partnership organized and existing under the laws of the
state of California the general partner of which is The May
Stores Shopping Centers, Inc., ("Grantor"), hereby grants to THE
PAWING AUTHORITY OF THE CITY OF CARLSBAD, a public corporation,
("Grantee"), the following described real property in the
State of California, County of San Diego, City of Carlsbad,
more particularly described as follows:
ALL THAT REAL PROPERTY SITUATED WITHIN THE CITY OF CARLSBAD,
IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, BEING THAT PORTION OF SECTION 32, TOWNSHIP 11 SOUTH, RANGE 4 WEST, SAN
BERNARDINO BASE AND MERIDIANy ACCORDING TO OFFICIAL PLAT
THEREOF, TOGETHER WITH PORTIONS OF LOTS 13, 14, and 42, AND OF
EUCALYPTUS STREET, ALL OF HOSP. EUCALYPTUS FOREST COMPANY'S TRACT, ACCORDING TO MAP THEREOF NO. 1116, FILED IN THE OFFICE OF COUNTY RECORDER OF SAN DIEGO COUNTY, BEING DESCRIBED AS A WHOLE AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE NORTH HALF OF THE NORTHEAST QUARTER OF SECTION 31, TOWNSHIP 11 SOUTH, RANGE 4 WEST, THENCE ALONG
THE SOUTH LINE OF SAID NORTH HALF, NORTH 89" 42' 19" WEST 404.27
FEET TO POINT "A" OF THIS DESCRIPTION;
THENCE EAST 339.54 FEET; TO THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTHWESTERLY AND HAVING
ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 63' 33' 33" A DISTANCE OF 15.71 FEET; NORTH 69.17 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTH-
EASTERLY AND HAVING A RADIUS OF 13.30 FEET; NORTHESTERLY AND EASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 90" 03' 03" A DISTANCE OF 15.71 FEET; THENCE TANGENT
TO SAID CURVE EAST 2.38 FEET TO THE BEGINNING OF A TANGENT CURVE
EASTERLY, NORTHEASTERLY AND NORTHERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 90°30f 00" A DISTANCE OF 39.27 FEET;
TEIENCE TANGENT TO SAID CURVE NORTH 13.67 FEET TO THE BEGINNING OF
A TANGENT CURVE CONCAVE SOUTHEASTERLY AND HAVING A RADIUS OF 10.00
FEE2 - THElNCE NORTHERLY, NORTHEASTERLY, AND EASTERLY ALONG THE ARC OF diD CURVE THROUGH A CENTRAL ANGLE OF 93" 33' 30" A DISTANCE OF
THENCE DUE SOUTH 424.67 FEET; THENCE NORTH 33O 30' 03" WEST 35.92 FEET
A RADIUS OF 15.30 FEET; THENCE NORTHWESTERLY AND WESTERLY ALONG THE
THENCE TANGENT TO SAID CURVE, WEST 43.05 FEET; THENCE
THENCE: NORTHERLY,
CONCAVE NORTHWESTERLY AND HAVING A RADIUS OF 25.00 FEET; THENCE
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EXHIBIT A
15.73. FEET; 5'IIt:KCE TANGENT TO SAID CURVE;, E;XT 140.00 FEET; Tl{I;XCE
SOUTIl 60' 00' 00" EAST 90.00 FEET; TXENCE EAST 1S5.24 FEK'I' TO TIi3
BEXlNNIXG OF A TANGENT CURVE CONCAVE SOUTii~~~ESTi'EKi,Y AND EIAVIKG A
EZnDIIJS OF 10.00 FEET; THENCE EASTEi%Y AND SOUTIIEASTEE?I,Y ALONG Ti!E
ARC OF SAID CURVE THEOUGH A CENTRAL ANGLE OF 70' 30' 00" A DISTAKCE
OF 12.22 FEET;
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THENCE fANC.E+4I TO SAID CUZVE SOUTH 20°00'OO" EAST 21~72 FEET1 THEriCE 50U7ki 30r10 FEETI THENCE EAST 232t88 FEETI THENCE NOATH
70000'00" EAST 326842 FEET; THENCE SOUTH 20000'00" EAST 76600
FEET! THEIYCE SOUTH 70°00'00" CIEST 45800 FEETI THENCE SOUTH
200001001' EAST 19OgOO FEETI THENCE SOUTti 7OOOO'OO" \,'EST 329~06
FEETI THE/<CE SOUTH 20°00'00" EAST 62800 FEET! TWErYCE SOUTH
?OOOO'OO" WEST 89448 FEE71 THENCE SOUTH 2OOOO'OO" EAST 20~00 FEET I THENCE SOUTH 7O0O0'OO" \!EST 271 I 17 FEET I THENCE NORTH
20OOO10O1~ CIEST 60897 FEETI THENCE \,'EST 680833 FEET TO A LINE '
WHICH BEAI'IS SOUTH FRO:*l THE HEREINABOVE DESIGNATED POINT 'lA'Ir I
THEKCE ALONG SAlD LINE9 SO1ITH 274386 FEET TO A LINE !WICH
BEARS SOUTH 7G030'00" EAST FROM A POINT \!Hick BEARS SOUTH 22893
FEET FROb1. THE TO THE 1'4rlY STORES SHOPPiNG CENTERS INCpi RECORDED AP2iI. 21,
3966, AS IIYST~UXENT fl01 66568 OF OFFICIAL RECO2DSt Tt1EfICE SOUTH
SOUTHh'ESTEi?LY CORIVER OF LANO DESCKI8EO IN DEED
76030'0011 EAST ALONG SAro Lrx mtoo FEET TO A POINT KHICII BEARS SOUTH 76°30'00'1 EAST 1265.00 FEET FROM THE SOUTtIKRLY
TEi:f*:INUS OF THAT LINE DESCRI3EO ABOVE AS "SCIUTH 22.99 FEET"j
THEKCE EAST 74Ot00 FEETl THENCE NORTH ??0151511i EAST 52131
k!ES? 54089 FCET t THENCE NORTH 70°00'00" EAST 572.50 FEETI THEKCE
FEET TO POiST IrBfl OF TH:S DESCRIPTiOE; THENCE KOK'IH 2Oo00~GO1~
SOUTH 1204Li109'' EAST 126t84 FEET TO A LINE LIHSCH SEARS E.;O>Tii 77°15d5111. EAST FROM SAID POIE.IT IIBtl HE2EINABOVE 0ESiGNA-i E9i
TtiElYCE KO2TH 77015'51" EAST i64,65 FEET TO AN INTERSECTION
!!lTH THE WESTERLY LiNE OF LAND DESCRfaED IN EASEI'.;ENT TO THE
CITY OF CAALSaAD FOR PU8LlC HIGtih'AY PURPOSES t RECO2DCD XAgCii
119 1966 AS D0CUfi:clNT b!Oa 42245, OFFICIAL RECOROSt SAID INTE2SCCTiOS
BEIfiG A POiNT IN THE ARC Or' A CURVES THE RADIAL CENTER OF h'IiiCH
BEARS N027rl 76O22'31" EAST 2563600 FEET FROIV SAID POINTI THCNCE
ACOXG SAiD OESTERLY LINE Or' SAID EASEb'lENT; NORTtiERLY ALCXG
'THE ARC OF SAID CUilVE YHR9UGH A CENTSAL ANGLE OF 905114211 A DISTANCE OF 441014 FEET{ TAKGENT TO SAID CU2VE9 NOiiTH 3°L5r4i'1f
WEST lt66t31 FEET THEhCE SOUTH 86014'13" WEST 110,OO FEET; -THENCE
NORTH 3O45'47" WIESS 174~00 FEETt THENCE NORTH 86°!4'13r1 EAST
110tP0 FEET 70 THiE WESTE2LY LINE OF SAID EASEb;ENT HE8EIN SEFG2E
CEKT!OSEDI THESCF: COiYTIiYUING AIOKG SAID WESTE3LY LINE IYO~TH
3°43147" WEST lOD00 FEET TO AN INTE3SECTION 'dITH THE SCUTHERLY
LIKE OF CALIFO2SIA STATE: HiGH'h'AY AS DESCRI8ED UN9Eil PA8CEL
1 IN DEEO TO TttE STATE OF CALIFO2KlA RECOZDEO SEPTC,Y2Zi? 8r
m'964 AS DOCdXEST NO, 163432 OF OFFiCIAt FiECOiiDSr THENCE ALOIY'J TtIE BCJUIYDA~Y 07 5AID STATE: HIGHNAY AS FOLL.Oh'SJ KO2TH 56032 fj21'
'\!EST 1@Cie34 FEET TO THE aECINNING OF A NOK-TANGENT CU2V:j THE
RADIAL CES1'52 07 't,'HICil SEhl3,C SOUTH 28O33'27'' \:EST 350~00 FEET
IHEREF20:itI TtIEXCk 't,'tSi L2L.Y ALOKG TbiE rl2C OF SA1 D CU2Vi jh'F:OLJCti
.- 2 -
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A CENTKAL AKGLE OF 31O03'27" A DISTANCE OF 81.31 FEET TO TI1E
EED THEREOF t THENCE NO&-TANGENT TO SkI D Cui?\/[ t SOU I tl 89" 12 I51
* WE31 16'1e33 FEET TO A POINT IN THE ARC OF A 205aOO FOOT RADIUS
CU2VE9 CONCA'JE SOUTHERLY s THE RADIAL CEKTEFI OF b!!i IC11 BEARS
. SOUTI! 2°33t00't EAST F~OIY SAID POINT! THENCE WESTERLY ALOIYG
* THE ARC OF SAID CUFiVE TtiROUGtI A CENTiikL ANGLE OF 35°C9'13f1
A DISTANCE OF 125a78 FEET TO TtIE BEGINRI&G Or A REVERSE CU;IVE
HAVIKG A RA3iUS OF 95.00 FEET! THENCE WESTERLY AN0 NORTH!iESTERCY
. ALONG THE ASC OF SAID CURVE THROUGH A CENT2AL ANGLE OF 1120
091131t A DISTAhCE OF 185496 FEET TO THE SOUTHEAST CO2rYER OF
THAT EASkKENT FOR D2AINkGE PU,;IP3SES DE$C;IIBED UNDER PARCEL
2 9 GKAXTEO TO THE STATE OF CALIFORNIAB RECORDED SEPTEXaER 8 1 . 1964 AS DOCUIVZNT b!oo 163432 OF OFFICIAL RECOFiDS! THENCE LEAViNG
SAID CUSVE AND SAID SOUTHESLY LINE OF CALIFORNIA STATE HIGtt!YAYt
AND FOL-LOWISG ALONG THE SOUTHERLY Ai'llD b!ESTERLY LINES OF SAiD
DRAIKAGF- EASEIV,ENT s SOUTH 74°30100t1 WEST 138088 FEET AND KOfiTH
. OF TtiZ LAIYO DESC218ED UNDER PARCEL 1 IN DEED TO THE CITY OF
OCEANSIDES RCCO2OED APRIL 20, 1959 AS DOCUblir'NT KO6 7725'1 OF
OFFICIAL RECO?DS I THENCE SOUTH 69°30t001i WEST ALONG THt SOUTHCilLY
15*19'26'"Wi.ST 40.85 FEET TO A POINT IN THE SOUTtlE2L.Y LIRE
LINE OF SAID PARCEL 1 A DISTANCE OF 614r20 FEET TO THE TRUE - POINT OF BEGINNING*
EXCEPTIRG' Tr-lE2EFFiOf4 THAT PORTiON Oi SAID SECTIOK 323 DESC3iSEO . . AS FOLLOkISI SEGIGNiKG AT SAID SOUTk1EAST CORKES OF Ski9 N027ti .HALF OF THE fZO3THEAST QUAP\TER OF SECTION 31, OF SAID TO!i18SHIP ARD RAKGfi THEKCE EORTH 69030t00" EAST ALONG SAID SOUTHERLY
LINE OF LAhO DESCRIBE0 IN SAID DEED TO THE CITY OF OCEAKSIDE,
425t90 FEET; THENCE LEAVING SAiD SOUTHEFILY LINE9 SOUTH SO00 '03"
EAST 58.17 FEET TO THE TRUE POiNT Or' GEGINIYING OF THE HE2ti~
DESCRIBE0 PARCEL I THENCE CONTINUING SOUTH 5000!00" EAST lO4.00 FEET1 THENCC ROi?TH 85°00100" EAST 327667 FEET1 THENCE KOi?TH
5000'00'' i/EST 104$00 FEET; THENCE SOUTH B3000'O01' WEST 327667
FEET TC THE TRUE POINT Or' BEGINNINC~
.ALSO EXCEPTING F3OlY SECTiON 329 h'EREiN DESCRIDED, ALL OF THE
OILr GAS9 AK3 MINERAL AN9 MINC2AL RIGtiTS, LYING 8ENEATEi k DEPTH
OF 500 FEET F2.01'4 TkE SURFACE OF SAID LAND, TOGETHE2 WITH THE
RIGHT OF ENiAY AT ANY POINT IN SUCH LAND LYING iiELOh' SAID DE2Ti.i
FO;i'Tt!t^ ?UR?OSES OF EXPLOAiNG 9 DRiLL IhG 9 CONVEYIIYG AN3 ;EII~~OVAL
OF AKY SUCH S'JSSTANCES AIVO IKSTALLATIOK OF EQUIi'XEXl AN9 ?I?tLiSES
.FOR SUCH ?UR?3SSS, P2OVIDC3 THAT ANY SUCH ENTAY AS9 ACTIVITY
UPOK SA:O LAX9 FOZ SUCH PU9:POSE SHALL 9: CA22SE3 OUT iN SUCH
hfK'?;ER AS TO AVOiD ANY INTERFERESCE LIITH THE USE OF TtiE SU2F:,CE
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*OF SAIC LAND, AS EXCEPTED IN DEEDS FROM FAWCO, A PARTNERSHIP, WILLIA~~: Sa BARTMANi FRED A, BARTMAN JRer BERNARD CITRON, AbiD
HAiiSY Jc Le FRANK JRII RECOROEO APRSL 21, 1966 UKOSR RECOSDER'S
FILE NQe'S 66913 AND 665688
ALSO EXCEPTING FROM SAID PORTION OF SECTSON 32, ASOVE ALL MIkERAL . RIGHTS AIVD ALL OIL, CAS, PETROLEUM, OR OiHE8 HYDROCAR8ON SUaSTAtiCES
WITHIN 02 URDERLYifiG SAID LAND WITHOUT RIGHT OF SURFACE ErJTRY
AS RESEaVED iiU OEEDS EXECUTED BY REGINALD0 MARRON AND CA2OLINE
AND 600K 7712, PAGE 477 OF OFFICIAL RECORDS*
-. MXRRON AECOFIDE3 IN BOOK 66991 PAGE 264 OF OFFICIAL KECO2DSf
HESEHVING UNTO GRANTOH , its successo1-s and assigns , and to
and for the bei1efi.t of each and every portion of real propcrty adjoining
the land conveyed hereby and owned by Partnership, easements on,
under and over the larid conveyed hereby 8s follows:
- (a) Easements (hereinafter referred to as "installatinn eascmcnts'!)
for:
(1) The installation and niaintcriance of utilities as may be
necessary or appropriate to providc utility ecrvicc to siich
adjoining portions of real property.
as used herein includes, but is not limited to works, lincs
The term "utilities"
and structures necessary to provide the following products
or services to said adjqining parcels: water, sewers ,
circuit tclevis ion.
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located on such adjoining parcels.
(b) Easements (hereinafter referred to as "common use"
easements) for the purpose of ingress and egress
by any pedestrians, automobiles, trucks and any
other vehicles to and from said adjoining real
property, or any portion thereof, by traversing
the land conveyed hereby in any direction to or
from any point on the common boundary of the land
conveyed hereby and said adjoining property
or any portion thereof, and the parking of such
vehicles.
The easement rights reserved hereby include
the power on the part of Grantor, its successors and assigns, to
grant licenses for the use of said easement rights to others
including, but not limited to the operators of business establish-
ments to be located on such adjoining land and their respective
employees, patrons and other licensees.
The easement rights reserved hereby
and any licenses to be granted thereunder are subject to the
following condition:
(i) The rights of usage under the common use ease-
ments shall be non-exclusive, and in common
with the rights of usage on the part of'
each owner of' or licensee under such rights
and with a11 members of the public having che
right or privilege for like usage of the
Parking Facilities under the terms and pro-
visions of that certain Lease Aweement dated
August 21, 1369, by and between Grantee and
the C:ty of' Carlsbad, a municipal corporation.
The rights under the easements hereby reserved
shall be appurtenant to the adjoining real property of Grantor and
any portion of said real property.
A. The conveyance hereby made is also subject to the following:
1. The aforesaid Lease covering the land conveyed hereby
executed by Grantor herein as Lessor to the City of
Carlsbacl, as Lessee.
2. The easements, rights-of-way, conditions, covenants,
restrictions, reservations and similar matters of
record on the date of delivery of this Grant [ked to
Grantee.
B. The conveyance hereby made is also subject to, and Grantee,
by its acceptance of this Deed, for itself, its successors and
its assigns hereby makes and agrees to the following covenants,
conditions and restrictions, namely:
1. Said land shall be held in trust by Grantee, and its
successors, and dedicated perpetually to public use as
a municipal parking lot available to the public without
charge. Said parking lot shall be maintained in good
condition with all necessary repairs and replacements
and shall be operated by Grantee in such a manner as
to provide internal trafflc routing and control so
as to maintain proper flow of traffic around and within
said parking lot and to provide at all times access for
ingress and egress to and from all adjoining parcels
of real property within the corporate limit2 of Grantee,
including, but not limited to, pedestrians, automobiles
and commercial vehicles engaged in making deliveries
to and pickups from establishments on such adjoining
parcels and unloading operations in connection therewith.
Said parking lot shall be kept open for public parking
on all dayr, including holidays, and at all hours,
except when there is nc: reasonable need in such
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adjoining areas within the corporate limits of
Grantee for parking in said parking lot or when and
insofar as reasonably necessary for repairs or maintenance.
No improvements, structures, buildings or facilities
shall be placed thereon or therein which obstruct,
interfere with or restrict the use of said property
as a municipal parking lot, except for decorative
plantings, lighting facilities and other improvements
incidental to the use of said property as a municipal
parking lot.
As used herein, the term "total taking" refers to a
taking, through eminent domain proceedings, of 83% or
more cf the total area of the Parking Facilities
and the texom "partial taking" refers to a taking through
such proceedings of any lesser area.
(a) In the event of a total taking, the
compensation awarded for such taking shall be
apportioned as follows: Grantee shall receive
out of the award for such taking an amount equal
to its unpaid indebtedness for the cost of improve-
ments and costs of' operation and maintenance of
the Parking Facilities incurred by it, less the
amount held by or for it for any such purposes.
The balance of the award for such taking shall be
apportioned between Grantor and Grantee, and their
respective successors and asslgns, as their respective
interests may be determined by the Court.
(b) In event of' i! partial taking, Grantee
shall cause the construction upon the remaining
pc;rtiori of the premises conveyed hereunder of a
multi-lcvpl par+; ing structure or Ftruct ures having
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capacity sufficient to compensate, to the extent
reasonably possible in the light of such physical
limitations as the partial taking may impose, for
the reduction in parking capacity caused by such
partial taking. In such event, Grantee shall
be entitled to participate in the award to the
extent of the full cost of such construction
and the balance shall be apportioned between Grantor
and Grantee, and their respective successors
and assigns, as their respective interests may be
determined; provided that in event there is a
concurrent partial taking of the Shopping Center,
served by the parking facilities conveyed hereunder,
the capacity to be restored hereunder shall be
proportionate with the reduction of floor space
in the Shopping Center so taken.
2. If at any time or times, Grantee fails to carry out, or
or to cause to be carried out the maintenance and
operation of said land as a public parking lot in accordance
wfth paragraph 1 of this Section B or the conztruction
provided for therein, if required, Grantor or its successors
or assigns, shall have the right at its election, in
addition to and without prejudice to any other remedies,
immediately to assume and carry out the maintenance and
operation of and construction on said property as a
public parking lot, provided that Grantor, or its successors
or assigns upon assuming such maintenance and operation,
shall pay the cost thereof, until such time as Grantee
assumes and is ready to carry out, or causes another
person, association or corporation ready and able to
do so, to assume and carry out the maintenance and opera-
tion of said property as a public parking lot In accordance
with paragraph 1 of this Section B.
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3. Should the parking facilities be damaged by fire or any
other casualty, Grantee shall cause the repair of such
damage with all reasonable dispatch.
cure and maintain, or cause to be procured and maintained,
in full force and effect at all times, a policy or policies
of insurance against loss or damage to the improvements
of the parking facilities, resulting from fire, lightning
vandalism, malicious mischief and such other perils
as are ordinarily included in "fire and extended coverage
insurance, I' providing coverage at 103s of the replacement
value of said improvements. Anyone having a right to
possession of any or all of said parking facilities under
a lease, license or any other similar document, or anyone
to whom all or any part of said parking facilities are
assigned, pledged or placed in trust as security for
any loan for the cost of said improvements shall be
named as additional insured under such policies of
insurance. Proceeds of the said insurance shall be
applied towards the costs of repairs or replacements of
said parking facilities.
Enforcement of the foregoing conditions, restrictions,
reservations and covenants may be by any legally avail-
able remedies. Such remedies shall include, but not be
lim!ted to, injunction or specific performance.
Grantee shall pro-
4.
5. This grant is made on the express understanding that the
Lease and Agreement hereinabove described constitute valid
and binding obligations respectively on the part of
Grantee and the Lessee therein named, and should the
contrary be established at any time during the term of
said Lease and Agreement pursuant to entry of a final
judgment of a court of competent jurisdiction the entry
of such judgment shall constitute a condition subse-
quent to the conveyance hereby made pursuant to which
all right, title and interest in and to said land shall
revert to and revest in Grantor in the same manner as
9.
if this conveyance had never been made.
Failure on the part of Grantee or its successors and
assigns to perform and fulfill the covenants, conditions
and restrictions set forth in the foregoing for a period
of thirty days after written notice from Grantor or
Grantor's successor or assign to do so shall cause the
reversion of the land hereby conveyed to Grantor, and
thereupon the title of the whole of said land shall
immediately and without the necessity of any further
action revert to and revest in Grantor or Grantor's
successor or assign, as the case may be.
6.
7. Each and all of the covenants, restrictions and agree-
ments hereinabove set forth shall be deemed and con-
strued to be continuing, and the extinguishment of any
right of entry or reversion or any breach shall not impair
or affect any of said covenants or restrictions so far
as any future or other breach is concerned. No waiver
of a breach of any of the covenants, agreements, restric-
tions and conditions herein contained shall be construed
to be a waiver of any other breach of the same or other
covenants, agreements, restrictions and conditions,
nor shall failure to enforce any one of such restrictions,
either by forfeiture or otherwise, be construed as a
waiver of any other restrictions or conditions , provided,
however, that no such breach shall defeat the lien or
encumbrance affecting said land and made in good faith
to secure indebtedness incurred in improving said land
for the uses and purposes aforesaid.
8. The covenants made by Grantee hereunder are hereby
expressed to be for the benefit of adjoining land owned
by Grantor, J. C. Penney Company, Inc., a Delaware
corporation, and The May Department Stores Company, a
New York corporation, and are made expressly by Grantee
10.
for its successors and assigns and to Grantor, Penney
and May and their respective successors and assigns.
Dated:
PLAZA CAMINO REAL, Grantor
By THE MAY STORES SHOPPING CENTERS, INC. Sole General Partner
BY Vice President
As si s t ant Secret ar y
11.
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CERTIFICATE
This is to certify that the interest in real property
conveyed by the grant deed dated
from Plaza Camino Real to The Parking Authority of the
City of Carlsbad, a political corporation is hereby
accepted by order of the Parking Authority on
, and the grantee consents to
recordation thereof by its duly authorized officer.
DATED:
FISCAL AGENCY AGREEMENT
. Security Pacific National Bank Corporate Trust Division 124 West Fourth Street Los Angeles, California
Gentlemen :
The Parking Authority of The City of Carlsbad has heretofore authorized the issuance of bonds as follows :
Principal Amount Description Interest Rates
$1,535,000 1969 Parking Varied Revenue
I Bonds
Interest is payable semi-annually on the first days of April and October each year until the maturity of the respective bonds. Said bonds state they are payable at the office of Security Pacific National Bank in the City of Los Angeles, California, or, at the option of the holder, at any paying agency of the Authority in Chicago, Illinois, or New York, New York.
We confirm our agreement with you as follows:
1. You are hereby appointed Fiscal Agent of the Authority in Los Angeles for the payment of principal and interest on said bonds and you are hereby authorized and requested to arrange with Bankers Trust Company fn New York and Harris Trust and Savings Bank in Chicago to act as Paying Agents, charging
your account for the payment of bonds and coupons which may be presented to them for
payment.
2. The Authority will deposit with you not less than two banking days prior to each principal or interest date, funds sufficient to meet the maturing principal and premium,
if any, and interest.
EXHIBIT E
3.
4.
5.
6.
The Authority will pay your fees ad expenses as such Paying Agent promptly upon ;-mentation of your bill therefor in accordancs xith the schedule of fees agreed upon. Said schedule of fees is shown on the attached “Zes~onsibili- ties and Duties and Schedule of Fees in Connec- tion with Appointment as Fiscal Ager: and
incorporated herein.
Trustee, I! attached hereto as Exhi’clz 2 and
Concurrently with the deposit of fr5s with you as hereinbefore provided, the Ls5itor of the\ Authority will file with you a cs-tificate showing thz pr.l.ncipal amount of bor-ts out-
standing and the amount and particclsr, bonds,
if any, which are to be redeemed wit:? the funds deposited therewith.
You shall pay for the account of the Authority such bonds and coupons presented tc :-=ti for that purpose in compliance with the Terms of the bonds as they mature or otherwiss be-
come payable. All bonds and coupons >aid by
you shall be handled in accordance i;iTh the
on Exhibit A attached hereto and inczr2orated herein.
provisions for If Optional Services” ss shown
The District erill compensate you f‘o? services rendered by you as Paying Agent in zzscrdance
with the foregoing instructions.
Yours very truly,
Parking Authorit:: of the City of Carlsbad
BY Chairzz?
ATTEST :
Accepted : ClerL SECURITY PACIFIC NATIONAL BANK
BY
e EXHIBIT A /”
1)
’ SECURITY PACIFIC NATIONAL BANK
RESPONSIBILITIES AND DUTIES & SCHEDULE OF FEES
IN CONNECTION WITH APPOINTHENT
AS
FISCAL AGENT & TRUSTEE
RESPONSIBILTTIES AND DUTIES
1. Revenues from the project will be depos.ited with the Fiscal Agent and Trustee.
2. The Fiscal Agent and Trustee will have no duty or responsibility for collecting
any such revenue.
3. The Fiscal Agent and Trustee will establish and maintain certain funds for the
payment. of principal and interest, etc.
Moneys deposited with the Fiscal Agent and Trustee will be invested in approved
securities, as directed.
. 4.
5. ProvisionsJcan he made for the payment of bonds and coupons in New York and
Chicago, if desired.
6. The Fiscal Agent and Trustee will furni.sh monthly statements of moneys received
and disbursed in the several funds.
7. The Fiscal Agent and Trustee will furnish monthly reports of bonds and coupons
paid, such report to show the total coupons paid by maturity and amount, and
the total bonds paid by serial number and amount.
8. Moneys in the hands of the Fiscal Agent and Trustee will be secured by deposit
of collateral as required by law.
- .OPTIONAL SERVICES
1. Retain all bonds and coupons paid for a period of one year.
2. Destroy paid bonds and coupons.
3. Furnish destruction certificate showing details of items destroyed.
SCHEDULE OF FEES
Acceptance Fee
Minimum charge - ~
Annual Charge
- On each $1,000,000 principal amount (or fraction thereof) of
bonds outstanding at the beginning of each year
$ 200.00
225.00
EXHIBIT E
. . . -- .
1 .. Q-
# '\.
A
.i r
Registration of Bonds
Per piece registered
Per pi.ece discharged from registration
Main t ennnc c o f Acc oun t s
0
For each account maintained (based on the number of accounts
at the beginning of the year and all accounts opened during
the year)
Processing of Irregular Transfers & Bonds of Indeninity
Each
Investment of Funds
For each purchase or exchange
For each collection due to sale or a maturing investment
*Payment of Coupons
Detached from bonds of $1,000 denomination - per coupon
Detached from bonds of $5,000 denomination - per coupon
"Payment of Principal at Maturity or by Call as a Whole
$1,000 denomination - per bond
$5,000 denomination - per bond
"Payment of Principal Upon Call in Part
$1,000 denomination - per bond
$5,000 denomination - per bond
Payment of Interest on Fully Registered Bonds
Per check issued
Minimum Charge for Each Principal or Interest Maturity
For the Maintenance "Live" of Coupon Bonds Surrendered for
Registered Pieces
For each bond, per annum
Minimum annual charge
For the Maintenance "Live" of Series of Coupons Applicable
'to a Specific Eond
$ -7.5 .?5
.50
3.00
7.50
2.50
.05
.125
1.00
3.25
1.25
3.25
-25
25.00
.10
50.00
For each series, per annum
Minimum annual charge
-2-
.025 ,
10.00
c
Special Services
Charges for any services not contemplated herein will be based on an
appraisal of the work and responsibility involvcd.
Expenses
Expenses for postage, insurance, telephone calls, etc., will be in
addition to the foregoing and will be charged for.at cost.
such agents.
*We will absorb the fees of the co-paying agents provided we are permitted to select
SCHEDULE OF FEES FOR OPTIONAL SERVICES
Accounting, Storage and Destruction of Bonds and Coupons
Coupons - pertaining to bonds of $1,000 denomination - each
pertaining to bonds of.$5,000 denomination - each
Bonds - $1,000 denomination - each
$5,000 denomination - each
Minimum aggregate annual charge for paying and accounting
services for all issues -
$ .01
.025
.05
.10
LOO. 00
The above rates include storage for one year. If longer storage is required
an additional charge may be made based upon the additional time required.
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