HomeMy WebLinkAboutLR Partnership; 1972-12-27;1
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REIMBURSEMENT AGREEMENT
AGREEMENT made this 27th day of December 1972, between
the CITY OF CARLSBAD, a municipal corporation, hereinafter referred
to as "City", and LR PARTNERSHIP, hereinafter referred to as
"Developer".
WITNESSETH:
WHEREAS, Developer is obligated under conditions set forth
in Resolution No. 1958 to provide a minimum of 2kl of permanent
roadway within the Park Drive alignment between Valencia Avenue
and Marina Drive as shown on EXHIBIT "A"; and
WHEREAS, the City has determined that said permanent roadway
will be beneficial to the general public, and that participation
in the cost thereof by the City is in the public interest;
NOW, THEREFORE, in consideration of the promises of the mutual
covenants and agreements of the parties hereto as such are herein
expressed, the parties hereto agree as follows:
1. Developer shall commence construction of a 2V wide
permanent roadway, in accordance with Plans and Specifications
approved by the City Engineer, in November 1972, and shall
diligently proceed and complete said construction in conjunction
with Carlsbad Tract 72-29 (Laguna Riviera Unit #9). Said con-
struction will include appropriate underground facilities so that
future completion of street improvements will not require trenching
of said 24' wide permanent roadway.
2. City shall reimburse Developer for one-half of the cost
of paving (to include sub-grade, graded shoulders, manhole adjust-
ments and engineer design) said 2k1 wide permanent roadway, but
not to exceed $10,000. Payment shall be made as a lump sum upon
completion of said roadway construction, and approval thereof by
the City Engineer.
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IN WITNESS WHEREOF the City of Carlsbad has caused its Mayor
to sign this agreement on the 27th day of December , 1972.
CITY OF CARLSBAD
JAVID M. DUNNE, Mayor
ATTEST:
~frf
MARGARET E. ADAMS, City Clerk
(SEAL)
IN WITNESS WHEREOF the Developer has affixed his signature
on the date first above set forth.
LR PARTNERSHIP
BY
Approved as to form
City Attorney