HomeMy WebLinkAboutAviara Land Associates/Lyon Communities; 1989-08-10;t- . . ..... _,. - LMK:pjb 08,-'7/89 RE20628.0044.0.0
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ORIGINAL
ASSUMPTION AGREEMENT
THIS ASSUMPTION AGREEMENT (the "Agreement") is entered into as of August 10, 1989 by and among AVIARA LAND
ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partner-
ship ( ffDeveloper") , LYON COMMUNITIES INC. , a California
corporation ("Buyer"), and THE CITY OF CARLSBAD, a municipal
corporation of the State of California ("City"), with
reference to the following facts:
A. On December 8, 1987, the Carlsbad City
Council adopted Ordinance No. 9839, approving Master Plan
property owned by Developer and proposed for development as
a master planned community.
YO. MP-I~? (ths If Master Plan") concerning certain real
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").
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 of any
such Planning Area shall enter into an agreement with
Developer and City whereby said purchaser assumes and agrees
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 7 and identified in the map attached hereto as Exhibit
"A" and incorporated herein by this reference.
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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.
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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 ope r 'I
AVIARA LAND ASSOCIATES LIMITED
PARTNERSHIP, a Delaware limited partnership
By: Aviara Land Company, a
Delaware corporation, general
partner
I y r.
'I Buyer "
LYON COMMUNITIES INC.,
CITY OF CARLSBAD, a Municipal
Corporation of the State of
City Attorney 2. v.
3
February 14, 1990
City Clerk
City Attorney
AVIARA - ASSUMPTION AGREEMENTS
Attached to this memorandum are the original assumptions agreements with Aviara and others for Planning Areas 3, 4, 8, 14 and 16 and
a copy of the assumption agreement for area 7. I have asked Mr.
Clemens to provide an executed original ofthe Assumption Agreement
for Planning Area 7 and will spd it to you upon receipt.
R+NALD R. BALL Assistant City Attorney
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