HomeMy WebLinkAboutAviara Land Associates/RDC Devco II; 1989-06-30; (2)1-
DRC : de OE, -8/89 RE20418.0001.0.0
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c.
0 R I GINA L
(Republic - P.A. 3)
ASSUMPTION AGREEMENT
THIS ASSUMPTION AGREEMENT (the "Agreement") is
entered into as of June 30, 1989 by and among AVIARA LAND
ASSOCIATES LIMITED PARTNERSHIP, a Delaware limited partnership
("Developer"), RDC DEVCO I1 LIMITED PARTNEREHIF, a Delaware
limited partnership ("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 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").
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 assume-s 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 provi-
sions 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 3 and identified in the map attached hereto as Exhibit "A" and incorporated herein by this reference.
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DRC : de 06, .d3/89 RE20418.0002.0.0
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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 Agresment
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.
"Developer"
AVIARA LAND ASSOCIATES LIMITED
PARTNERSHIP, a Delaware limited
partnership
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By: Aviara Land Company, a
Delaware corporation, general partner
By: R
Buyer " I1
RDC DEVCO I1 LIMITED PARTNERSHIP,
a Delaware limited partnership
By: Republic Development Company,
"city"
CITY OF CARLSBAD, a Municipal Corporation of the State of
CaUTbrnia
City Attorney
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