HomeMy WebLinkAboutTamarack Pointe Venture; 1985-02-14;REIMBURSEMENT AGREEMENT
FOR
WATER SYSTEM FACILITIES CONSTRUCTED AS PART OF
CARLSBAD TRACT NO. 84-14
TAMARACK POINTE
THIS AGREEMENT is made this 14th day of February , 1985 .
between COSTA REAL MUNICIPAL WATER DISTRICT, hereinafter called "DISTRICT",
and TAMARACK POINTE VENTURE, hereinafter called "DEVELOPER", in view of
the following purposes:
(a) DEVELOPER and DISTRICT have entered into an agreement entitled
"Water System Improvements Agreement - Carlsbad Tract 84-14 - Tamarack
Pointe" dated February 14, 1985 This agreement is made a part of
this document by full 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 thirty-seven
percent (37%) of the estimated cost to the DEVELOPER for the construction
of the Pressure-Regulating Station to be located in Tamarack Avenue.
The reimbursement shall be made pursuant to the following terms and
conditi ons:
(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.
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(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 109 acres.
(c) DISTRICT will make payment to DEVELOPER charges collected by
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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 thirty-seven percent (37%) 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.
TAMARACK POINTE VENTURE,
a Joint Venture
COSTA REAL MUNICIPAL WATER DISTRICT
Margaret J. Bpipjas, President
Board/of Di rectors
By;
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l/MITS OF SERVICE
AGE*
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INDtCAJES 5EUEFITAP£A OF
TAMARACK PO/N TE (CT 84 -14)UTILIZING PR STA • ZONE. ^INDICATES &EMEF/TAPEA ^
R&SIX. ZONE.
J. TOTAL AC&£S
PLAT MAP ATTACHMENT
OF
REIMBURSEMENT AGREEMENT
FOR
TAMARACK
FACIUTI£e> OF
M0.
£A$T OF EL CAM I HO
EXHIBIT 'A
CM\VD 3I-3OS
April 23, 1991
CMWD 81-305
REIMBURSEMENT AGREEMENT FOR PRESSURE REDUCING STATION
CARLSBAD TRACT 84-14. TAMARACK POINTS
1. Cost of P.R. Station $50,000.00
2. Benefit Area of P.R. Station (Pressure Zone 109.10 acres
3. Cost per Acre $458.30/acre
4. Total Maximum Payment Made to Developer 37%
5. 37% = 40.37 acres x $458.30 $18,500.00
(Future Collection)
6. 63% = 68.73 acres X $458.30 $31,500.00
(Developer's Part)
Capital Contribution Charge to be collected by C.M.W.D. per
agreement for ten (10) year period. Total amount to be collected
$18.500.00.
GLEISFED DEVELOPMENT CORP.
AGLENDALE FEDERAL COMFWMY
May 13, 1991
Mr. F. Jerry Whitley
Carlsbad Municipal Water District
5950 El Camino Real
Carlsbad, CA 92008
RE: REIMBURSEMENT AGREEMENT FOR CARLSBAD TRACT 84-14
Dear Mr. Whitley:
This is in response to your April 23rd letter and proposal of
reimbursement for the pressure regulating station on Tamarack
Avenue .
GLENFED is in agreement with your proposal, and I have enclosed the
additional information as you requested.
Please note that the assignment of ownership interest is solely to
GLENFED Development Venture Corp. as indicated in the enclosed
document and all reimbursements should revert exclusively to
GLENFED Development Venture Corp.
Sincerely,
"T" X- /Mark Sanchez O /
Assistant Project Manager
MSrph
Enclosures
16601 Ventura Boulevard. Suite 200
Encino. California 91436
P.O. Box 1887
Encino, California 91316
818 377 3030
MUHWPAL WWTUK CMtfTMCr
16408/04-02-03/MAW
05-03-88 (
ASSIGNMENT OF PARTNERSHIP INTEREST
THIS ASSIGNMENT OF PARTNERSHIP INTEREST (this
"Assignment") is made effective as of the 15th day of April,
1988, by and among GLENFED DEVELOPMENT CORP., a California
corporation ("Glenfed"), GLENFED DEVELOPMENT VENTURE CORP., a
California corporation ("GDV"), ("Glenfed and GDV are referred to
herein collectively as "Assignees"), and THE WOODWARD COMPANIES,
INC., a California corporation ("Assignor"), with reference to
the following facts:
A. Assignor and Glenfed are partners in Tamarack
Point Venture, a California joint venture (the "Partnership"),
formed pursuant to that certain Joint Venture Agreement (the "JV
Agreement"), dated March 30, 1984, as amended.
B. Assignor now desires to transfer and assign to
Assignees all of Assignor's right, title and interest as a
partner of the Partnership. Assignees desire to accept such
transfer and assignment.
NOW, THEREFORE, for and in consideration of the
foregoing premises, and the mutual undertakings set forth below,
the parties agree as follows:
1. Assignment of Partnership Interest. For value
received. Assignor hereby transfers and assigns to Assignees all
of Assignor's right, title and interest in and to the Partnership
(the "Partnership Interest"), including, without limitation, all
of Woodward's rights in, to or under the JV Agreement and any
claims Woodward might have against the Partnership, Woodward's
interest in the capital, income, "Proceeds Available for
Distribution", and "Reserve Account" (as such quoted terms are
defined in the JV Agreement), and all other assets owned by the
Partnership.
2. Title. Woodward represents and warrants that it
has not previously transferred, assigned, hypothecated or
otherwise conveyed any portion of its right, title or interest
in, to or under the Partnership or the JV Agreement and that the
Partnership Interest is the entire interest of Woodward in the
Partnership (and all of the Partnership's assets) and is being
assigned to Assignees free and clear of all liens, encumbrances,
claims and charges of any nature.
3. Acceptance. Assignees hereby accept the transfer
and assignment to them of the Partnership Interest.
4. Amendment of JV Agreement. Assignor and Assignees
agree to execute any documents and instruments (including,
without limitation, an amendment to the JV Agreement and the
Statement of Partnership for the Partnership) which Glenfed and
GDV deem necessary or appropriate to carry out the purposes of
this Assignment and to effect the admission of GDV as a partner
of the Partnership.
5' Authority. Assignor, Glenfed and GDV each
represents and warrants that (i) the person executing this
Assignment on behalf of their respective entities have the right,
power, legal capacity and authority (including all necessary
resolutions and approvals) to execute and deliver this Assignment
and all other documents that may be executed or delivered in
connection with this Assignment, and (ii) neither this Assignment
nor anything to be done under this Assignment violates or shall
violate the terms of any agreement, contract, understanding or
arrangement of any nature to which it respectively (or to the
best of its knowledge, the Partnership) is a party or whereby it
(or to the best of its knowledge, the Partnership) may be
bound.
6. No Third Party Benefit. Except as otherwise
provided herein, nothing in this Assignment shall be deemed to
confer any right or benefit on any person or entity who is not a
party to this Assignment.
EXECUTED as of this 10th day of June, 1988.
"ASSIGNEES": GLENFED DEVELOPMENT CORP.,
a Calif or nia.x-c^rpc/rat ion
By: '-^f
[ / . _ y --
COPY
, Name: I/J^A^- ^ ^f f^v*
/
Title:
By:
Name:
Title:
[Signatures continued on page 3]
[Signatures continued from page 2]
GLENFED DEVELOPMENT
VENTURE CORP., a
California corporation
By:
Name:
Title: ^4^t i /•
By:
Name:
Title:
"ASSIGNOR": THE WOODWARD COMPANIES, INC.,
a California corporation
Don E. Woodward,
By:
Woodward,
COPY