HomeMy WebLinkAboutAviara Land Associates/Davidson Coscan Partners; 1989-06-30; (2)-
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DRC : de 06, &8/89 RE20429.0001.0.0
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ORIGINAL
(Davidson - P.A. 14)
ASSUMPTION AGREEMENT
THIS ASSUMPTION AGR$6MENT (the "Agreement") is
entered into as of June 30, 1989 by and among AVIARA LAND
ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partner-
ship ("Developer") , DAVIDSON COkAN PARTNERS, a California
general partnership ("Buyer") , an& THE CITY OF CARLSBAD, a municipal corporation of the State bf California ("City"),,
with reference to the following facts:
A. On December 8, 1987, the Carlsbad City Council
adopted Ordinance No. 9839, approving Master Plan No. MP-177
(the "Master Plan") concerning certain real property owned by
Developer and proposed for development as a master planned
community.
B. On December 8, 1987, the Carlsbad City Council
adopted Resolution No. 9322, approving that certain Tentative
Subdivision Map no. CT 85-35 (the "Map"). \ i C. As expressly provided by the terms of condition no. 94 of the Map, prior to the sale of any
Planning Area contained within the Map, the purchaser o any
such Planning Area shall enter into an agreement with \\
Developer and City whereby said purchaser assumes and agr$es
to abide by the terms, provisions and obligations of the Master Plan.
D. This Agreement is executed in order to so
evidence Buyer's agreement to abide by the terms and
provisions of the Master Plan and Buyer's assumption of the
obligations of the Master Plan and any approved amendments
thereto with regard to certain real property being purchased
by Buyer from Developer.
NOW, THEREFORE, the parties hereto agree as
follows:
1. Assumption of Master Plan. For valuable
consideration, the receipt of which is hereby acknowledged,
Buyer hereby assumes the obligations of and agrees to abide
by the terms and provisions of the Master Plan and any
approved amendments thereto, specifically including without
limitation those provisions of the Master Plan affecting that
certain real property (the "Property") known as Planning Area 14 and identified in the map attached hereto as
Exhibit "A" and incorporated herein by this reference.
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DRC:mjw 06, . 7/89 RE20429.0002.0.0
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2. Indemnification of Developer. Buyer hereby
agrees to indemnify, defend and hold Developer harmless from
and against any failure by Buyer to observe and abide by the
terms, provisions and obligations of the Master Plan and any
approved amendments thereto in connection with Buyer's use
and development of the Property.
3. Necessary Acts. Each party to this Agreement
agrees to perform any further acts and execute and deliver
any further documents that may be reasonably necessary to
carry out the provisions of this Agreement.
IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first set forth above.
" D eve 1 o p e r 'I
AVIARA LAND ASSOCIATES LIMITED
PARTNERSHIP, a Delaware limited
partnership
By: Aviara Land Company, a
Delaware corporation, general
partner
DAVIDSON COSCAN PARTNERS, a California general partnership
By: The Davidson Company, a California corporation,
Manaqinq Partner
"City"
CITY OF CARLSBAD, a Municipal
Corr-tion of the State of Ca f nia
c
City Actorney
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