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Home My WebLink AboutCT 2019-0001; 400 Gibraltar LLC; 2022-0360437; Affordable Housing Agreement/Release( a) Performance under this Agreement satisfies the Developers' obligation for affordable housing under Chapter 21.85 of the Carlsbad Municipal Code as applied to the land covered by Carlsbad Tract No. 2019-0001 (CT2019-001) by reason of the approvals of the Tentative Map of CT 2019-0001, including Condition No. 25 of Planning Commission Resolution No. 7427, and any other applicable approval. (b) The Developer shall purchase two (2) affordable housing credits in the Cassia Heights Affordable Housing developments ( on the border of both the Southeast and Southwest Quadrants of the City of Carlsbad), based on availability, for an amount established by resolution of the City Council and as required by Condition No. 25 of Planrung Commission Resolution No. 7427 no later than two (2) years following City Council approval of this Agreement. The credit fee shall be paid in full prior to the Developer receiving any building permits for the project. The subject housing credits will be reserved for said Developer for no longer than (2) years following City Council approval of this Agreement. If the Developer does not purchase the subject credits within two (2) years of the date of this Agreement, the City shall make the credits available to one or more alternate developers and the Developer for this Agreement shall then be required to satisfy its inclusionary obligation through alternate methods as approved by the City. 3. RE:MEDIES Failure by the Developer to perform in accordance with this Agreement will constitute failure to satisfy the requirements of Chapter 21.85 of the Carlsbad Municipal Code and Condition No. 25 of Planning Commission Resolution No. 7427. Such failure will allow the City to exercise any and all remedies available to it including but not limited to withholding the issuance of building permits for the lots shown on Carlsbad Tract No. 2019-0001 (CT2019-0001). 4. HOLD HARMLESS Developer will indemnify and hold harmless (without limit as to amount) City and its elected officials, officers, employees and agents in their official capacity (hereinafter collectively referred to as "Indemnitees"), and any of them, from and against all loss, all risk of loss and all damage (including attorneys' fees and expenses) sustained or incurred because of or by reason of any and all claims, demands, suits, or actions, obtained, allegedly caused by, arising out of or ·pertaining in any manner to Developer's actions or defaults pursuant to this Agreement, and shall protect and defend Indemnitees, and any of them with respect thereto. This provision shall survive Ahe term of this Agreement. 5. NOTICES All notices required pursuant to this Agreement shall be in writing and may be given by personal delivery or by registered or certified mail, return receipt requested to the party to receive such notice at the address set forth below: TO THE CITY: TO THE DEVELOPER: City of Carlsbad Housing & Homeless Services Department Attn: Housing & Homeless Services Director 1200 Carlsbad Village Drive Carlsbad, California 92008 400 Gibraltar LLC 2 CA2/5/2013 Item #4 Page 8 of 43 3525 Del Mar Heights Rd. #724 San Diego, Ca. 92130 Any party may change the ad~ress to which notices are to be sent by notifying the other parties of the new address, in the manner set forth above. 6. ENTIRE AGREEMENT This Agreement constitutes the entire agreement between the parties and no modification hereof shall be binding unless reduced to writing and signed by the parties hereto. 7. DURATION OF AGREEMENT This Agreement shall terminate and become null and void upon the payment of the affordable housing credits, or the repeal, termination, or modification of any applicable ordinance which act would render the Affordable Housing Obligation unnecessary or unenforceable. 8. SUCCESSORS This Agreement shall benefit and bind the Developer and any successive owners of affordable housing lots. THE REMAINDER OF TIDS PAGE HAS BEEN LEFT INTENTIONALLYBLANK 3 CA 2/5/2013 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who sig·ned the document to which this certificate is attached, and not the truthfulness; accuracy, or validity of that document. State of California County of San Diego ) before me Morgen Fry '-------------------(insert name and title of the officer) personally appeared S~"tf C,\-t~\,u\C..\<. who proved fo me on the basis of satisfactory evidence_to be the person~ whose name(\) isfe.Fe subscribed to the within instrument and acknowledged to me that he/sl:le,1.u,ey executed the same i1 his/1-te11tl,eir authorized capacity~), and that by his/t'ter/tl:lofr signature(!.) on the instrument the person ~), or the entity upon behalf of which the personN) acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature ~~ ~--··········~ M()RG.EN F"" ~ tfot•ry Public • Califomta z i San Di~• County ! ' Commission # 2268605 My Comm. Etpiros O@<: 2~, 2022 (Seal) 9. SEVERABILITY In the event any provision contained in this Agreement is to be held invalid, void or unenforceable by any court of competent jurisdiction, the remaining provisions of this Agreement shall nevertheless, be and remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have ca of the day and year first above written. ~\~ ~Qt · s Agreement to be signed as . , b1 rntaflb -@!) DE~RI? J // D By, ; ~~M4s~I( Fc~A:-.> {)G µ A~~ Title: 02-ES lOE,...fr By: Name: ------------ Title: Dated: By: CARLSBAD Seo-t+ <!_ I A-i:)W I e.1<. (!_ /Tl/ f'nA-NA&-E~ (Chairman, president or vice-president and secretary, assistant secretary, CFO or assistant treasurer must sign for corporations. Otherwise, the corporation must attach a resolution certified by the secretary or assistant secretary under corporate seal empowering the ojjice(s) signing to bind the corporation.) (If signed by an individual partner, the partnership must attach a statement of partnership authorizing the partner to execute this instrument.) (Proper notarial acknowledgment of execution by Developer must be attached.) APPROVED AS TO FORM: Celia A. Brewer, City: Attomey By 1t&J. ~ Ro'n Kemp, AssistanCity Attorney Dated: _\-+-/4,__{.JL.. -+-,b_1-.. ____ _ 4 CA 2/5/2013 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of San Diego on December 07, 2021 before me, Brenda Arriaga, Notary Public (insert name and title of the officer) personally appeared Foroozandeh Sahba _____________ , who proved to me on the basis of satisfactory evidence to be the person~ whose namek-0 is/are subscribed to the within instrument and abknowledged to me that he/she/they executed the same in his&,erftheir authorized capacity~, and that by his~/their signature~ on the instrument the perso~, or the entity upon behalf of which the person~ acted, executed the instrument. I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. (Seal) EXHIBIT A LEGAL DESCRIPTION OF PROPERTY Lot 40 of La Costa South Unit No. 5, in the City of Carlsbad, County of San Diego, State of California, According to Map Thereof No. 6600 filed in the Office of the County Recorder of San Diego County, on March 10, 1970. 5 CA2/5/2013