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HomeMy WebLinkAboutPARKING AUTHORITY/PLAZA CAMINO REAL; 1977-08-23;a 0 .,> AGESEMENT This agreement is made this 23rd day of August , 1977, by and between the City of Carlsbad, California (the "City"), the Parking Authority of the City of Carlsbad (the "Authority and Plaza Camino Real, a California limited partnership ("Developer") . WITNESSETH WHEREAS, Developer has entered into an agreement dated. November 5, 1975 with Authority and City with respect to the expansion of the Plaza Camino Real Regional Shopping Center by the addition of two major stores (the "Expansion Agreement and b7HEREAS, one of said major stores will be a Bullock's Department Store; and WHEREAS, as set forth in the Expansion Agreement, the southern portion of the Bullock's Store will be located on land that is presently a part of the Existing Public Parking Area owned by the Authority and leased to City, shown as Parcel A, on Exhibit A, attached hereto and made a part herec and WHEREAS, as Contemplated by the Expansion Agreement, Authority and City have agreed to convey said land to DeVelOE A condition precedent to such exchange is the conveyance of 0 0 equivalent acreage elsewhere in the Center by Developer to Authority. Said acreage to be improved by Developer so as to of at least equal value and utility for parking purposes; and WHEREAS, the Expansion Agreement further provides that arrangements for such conveyances must be acceptable to City and Authority and must be made before construction is commenc on the Bullock's Store: and WHEREAS, Authority, City and Developer have agreed that exchange will not occur until the final map has been recorded pursuant to the Subdivision Map Act establishing the parcels to be exchanged as separate lots; and WHEREAS, on August 2, 1977 City approved the tentative subdivision map for the proposed expansion which provides for said lots and Developer is actively moving to meet the requir ments necessary to obtain approval of the final map; and WHEREAS, in order to achieve the scheduled date for the opening of the Bullock's Store, it will be necessary for Developer to commence grading and excavation for the buildin? pad of the Bullock's Store and to relocate certain utilities on the portion of the Bullock's Store site presently owned b: the Authority prior to the recording of the final map; and \HEF?XAS, in order to accomplish the expansion in accord. ance with the Expansion Agreement, Developer must do certain work including, but not limited to, regrading a portion of tl existing public parking lot and the installation and relocat 2. 0 0 of utilities on said portion shown as Parcel B, on Exhibit A. It is necessary that said work be accomplished in conjunction with the grading and excavation of the Bullock's site; and WHEREAS, as a result of the proposed expansion of the Center, Authority will acquire, at less than cost, title to a expanded, fully improved, public parkinq facilities and it is in the Authority's and City's interest to cooperate with Developer in their expansion efforts in order to acquire said facilities; and WHEREAS, City and Authority are satisfied that the numb€ of spaces affected will not interfere with the overall operat of the parking facilities and are willing to accommodate the Developer in accord with the terms of this agreement, NOW, THEREFORE, the Parties hereto agree as follows: 1. Authority and City hereby grant to Developer the ric to temporarily encroach on Authority property, to grade and excavate the portion of the Bullock's Store site presently OP by Authority for the purpose of preparing the building pad fc the Bullock's Store shown as Parcel A, on Exhibit A. DeveloI is also hereby granted the right to relocate any utilities situated thereon to other portions of the existing Public Parking Area owned by Authority, in accordance with the prec: plan of development approved by the City pursuant to the Expz Agreement. 2. Authority and City hereby grant to Developer the ric to temporarily encroach on Authority property, to grade, relc 3. 0 * I. e. and install utilities and accomplish other related work on an area of the existing Public Parking Lot shown as Parcel B, on Exhibit A. Developer is also granted the right to relocate ai utilities situated thereon to other portions of the existing Public Parking Lot owned by Authority. All rights granted by this agreement for work shall be exercised in accordance with the Expansion Agreement and the precise plan of development approved by City pursuant thereto. 3. All rights granted by Sections 1 and 2 hereof to Developer, shall be exercised in accord with the City of Carls grading ordinance after securing all necessary permits. Gevel agrees to pay City $428.76 per month for the encroachment on Parcel A. Developer agrees to pay City $714.60 per month €or encroachment on Parcel B. Said monthly payments shall be made in advance on the first day of each month. Said monthly payme are computed in the proportion which the parking capacity of said properties bear to the parking capacity of the facilities which are the subject of that certain Lease Agreement (herein2 "Lease Agreement"), made and entered into as of the 21st day c August, 1969 by and between the Authority aRd City. City here pledges said monthly payments to the rental payments due in connection with the aforementioned Lease Agreement. 4. Upon the close of the exchange of land for the Bulloc Store site, rental payments for Parcel A shall terminate. If said exchange fails to close within such time as the parties h 4. e 0 I. 1. may agree, Developer agrees to vacate Parcel A and to immediat reconstruct and restore the improvements on the subject Authoi property to the condition existing as of the date of this agrc ment . 5. Notwithstanding the provisions of Section 4 hereof, Developer agrees to vacate both Parcels A and B and reconstruc and. restore the improvements to the condition existing as of the date of this agreement upon the receipt of a written requc therefor from City or Authority. Authority and City agree that the said request will not be made prior to December 31, 1978. 6. Developer agrees that it, and its successors in intei will not assert any right to exercise its right of reverter which it may have by virtue of said encroachments under that certain Grant Deed, dated October 21, 1969, which Grant Deed was recorded the same date as Document No. 193480, Official Records of San Diego County, California. Nothing herein shal be construed as affecting the right of Developer and its successors in interest to exercise its reversionary rights unc said Grant Deed in connection with any other event. 7, Developer agrees to furnish a certificate evidencing in form satisfactory to the City Attorney, liability insurancc in favor of City and Authority for property damage and personl injury in connection with the rights granted herein in the amount of $1,000,000. 5, m 0 .- ,. IN WITNESS WHEREOF, the Parties hereto have executed this agreement as of the day and year first above written. ATTEST : CITY OF CARLSBAD ATTEST : KING AUTHORITY OF THE CIT CALIFORNIA ATTEST : PLAZA CAMIMO REAL, a California partnership By: The May Stores Shopping Cent its Ge eifaL Partner d,+ ,< yA/k ."'?/i.'JLf / -i / iL, /(</&-, -_. -K.. , BY / _' // Ir / f' ,i' /<-/' kRESIDEN1; / APPROVED AS TO FORM: 6. 'I ' - .. :*- ' - -.. -.. _.. . i? ). r- ---. .. __ . a. . Encroachment Agrement 0 0 r .. GUARANTY The May Stores Shopping Centers, Inc., a Missouri corporation authorized to do business in the State of California, hereby guarantees Developer's obligations under the foregoing agreement and further agrees to furnish security in favor of City and Authority guaranteeing the obligation therein set forth to restore and reconstruct the parking lot improvements. security to be a surety bond in the amount of $60,000. . Said ATTEST : THE MAY STORES SHOPPING CENTERS, 1 REESlDENT //* i A-, APPROVED AS TO FORM: 1 i SAFECO INSURANCE COMPANY OF AMERICA GENERAL INSURANCE COMPANY OF AMERICA FIRST NATIONAL INSURANCE COMPANY OF AMERICA HOME OFFICE. SAFECO PLAZA, SEATTLE, WASHINGTON 98185 Bond No. 23554'88 CONTRACT BOND T .(n KNOWALL MEN BY THESE PRESENTS, That we, XAY STORES SHOPPING CENTEXS , AL e called the Principal, and SAFECO INSURANCE COMPANY OF AMERiCA, a Washington corporation called the SL are held and firmly bound unto P~~<~~'z >-S'zkOT?ITy b&!D CITY 8F 'cAxLS%D, @,',~P~~$I~L called the Owner, in the sum of SIXTY r:<c?.Js!lIqD .!i?<D %O/180 ---- Dollars (5 63 ,CO3 -00 for the payment whereof said Principal and Surety bind themselves firmly by these presents. WHEREAS, the Principal has, by written Agreement, dated entered into a contract with the owner for Real Parklng Lot LiWWSt 233 1949 3-estoration and repairing to Plaza @mho a copy of which is by reference made a part hereof; NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, That if the Principal shall faithfully pe indemnify and save harmless the Owner from all loss, cost or damage which Owner may suffer by reason of the fail the Contract free and clear of all liens arising out of claims for labor and materials entering into the constructio to do, then this obligation shall be void: otherwise to remain in full force and effect. I 77 Signed and sealed this 23rd day of Augs.sc 19 L r I, ' Y' I F 5-639 R3 10/72 B * ACKNOWLEDGMENT BY SURETY } ss. STATE OF CALIFORNIA County of LOS Angeles 7,- On ths ’xx? day of Adgcs’r IC??? , before me, Virginia J. Rissling a notary public in and for the State of California with principal office in the County of LOS Angeles residing therein, duly commissioned and sworn, personally appeared known to me to be the person whose name is subscribed to the within instrument as the attorney-in-fact of the the corporation named as Surety in said instrument, and acknowledged to me that he subscribed the name of said corpc thereto as Surety, and his own name as attorney-in-fact. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, at my office in the,a%xysaid C Constaace X. StiJ-rin SAFECO INSURANCE COMPANY OF AMERICA the day and year in this certificate first above written. Eli I I I I It I lllll I I Ill! I I I I i I I I I I1 I I I I I Ill I1 I I I i II I I I I I I I 11 1 g OFFICIAL SEAL - Principal Office in = Los Angeles County - - - I L - * VIRGINIA J. RlSSLlNG z m - Notary Public - California s - - I I I - - - - /’ + - - J = My Commission Expires December 16, 1979 E f’ /‘ S-1482 3/77 ~liillllllllll~l1~lllIlt)ll~~~llllllllll~llll~~~lllll~lll~~ll~l .