HomeMy WebLinkAboutPacesetter Homes Inc; 1983-08-24;REIMBURSEMENT AGREEMENT
FOR
WATER SYSTEM FACILITIES CONSTRUCTED AS PART OF
CARLSBAD TRACT NO. 81-30
PACESETTER HOMES, INC.
THIS AGREEMENT is made this 24th day of August , 19 83 ,
between COSTA REAL MUNICIPAL WATER DISTRICT, hereinafter called "DISTRICT",
and PACESETTER HOMES, INC., hereinafter called "DEVELOPER", in view of
the following purposes:
(a) DEVELOPER and DISTRICT have entered into an agreement entitled
"Water System Improvements Agreement Regarding Carlsbad Tract 81-30,
Pacesetter Homes, Inc., Relocation of Existing 16-Inch Water Main;
Construction of Pressure-Regulating Stations and Future 12-Inch Waterline
(Camino de las Ondas to North Boundary of Carlsbad 81-30, Unit No. 1),
dated June 13, 1983. This agreement is made a part of this document by
ful1 reference.
(b) DEVELOPER is entitled to and the DISTRICT is agreeable to the
preparation and execution of this agreement for the reimbursement of
certain amounts for specific water system facilities pursuant to the
rules and regulations of District Ordinance No. 26.
(c) DISTRICT has made an evaluation of the potential service area
to determine the excess capacity of the new pressure regulating-station.
IT IS, THEREFORE AGREED:
1. DISTRICT will reimburse DEVELOPER an estimated ninety-three
percent (93%) of the estimated cost to the DEVELOPER for the construction
of the Pressure-Regulating Station to be located in Camino de las Ondas.
The reimbursement shall be made pursuant to the following terms and
conditions:
(a) DISTRICT hereby establishes a "Service Area" of the Pressure-
Regulating Station as set forth in Exhibit "A" attached herewith and made
a part hereof.
(b) DISTRICT will establish a "Capital Contribution Charge" for
all users benefiting from the Pressure-Regulating Station amounting to
a charge per acre, based upon the actual total cost of the Pressure-
Regulating Station divided by a total of an estimated 339 acres.
(c) DISTRICT will make payment to DEVELOPER charges collected by
the DISTRICT for a period of ten (10) years after the date of acceptance
of the public water system by the DISTRICT. The total maximum payment
made to DEVELOPER shall be ninety-three percent (93%) of the total actual
cost.
2. For the purpose of establishing the values for all of the public
water system facilities that are eligible for reimbursement under this
agreement, the DEVELOPER shall submit to DISTRICT all financial records
with a request for establishing the total cash value of the facility.
The DISTRICT shall review all such records and make a determination as
to the actual cash value.
3. This Agreement shall inure to the benefit of, and the obliga-
tions created hereby shall be binding upon, the successors and assigns of
the parties hereto.
4. The invalidity or illegality of any provision of this Agreement
shall not be deemed to affect the validity or legality of any other
provision of this Agreement.
5. This Agreement and any amendments hereto shall be governed by
and construed and enforced in accordance with the laws of the State of
Cali fornia.
6. This Agreement sets forth the entire agreement and understanding
of the parties with respect to the transactions contemplated hereby,
and supersedes all prior agreements, arrangements, and understandings
relating to the subject matter hereof.
7. This Agreement may be amended, modified, superseded or cancelled,
and any of the terms, covenants or conditions hereof may be waived, only
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by a written instrument executed by the parties hereto or in the case of
a waiver, by the party waiving compliance.
8. If any action at law or in equity is necessary to enforce or
interpret the terms of this Agreement, the prevailing party shall be
entitled to reasonable attorneys' fees, costs and necessary disburse-
ments in addition to any other relief to which he may be entitled.
IN WITNESS WHEREOF, this Agreement has been executed by DEVELOPER
and on behalf of the DISTRICT by the President of its Board of Directors
on the day and year first above written.
PACESETTER HOMES, INC.
' / 7 C \/f) (/ /' /
By: b^?/^/Y^f J ir< II J/A
COSTA REAL MUNICIPAL WATER DISTRICT
man M. Almack, President
Board of Di rectors
SEAL SEAL
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