HomeMy WebLinkAbout; HARDING STREET NEIGHBORS LP; 2013-0168693; Affordable Housing-Regulatory Agreement & Dec. of Restrictive Covenants14768
4. Through this Agreement the City is impo~ing occupancy and affordability
restrictions on the Development in order to meet the needs for affordable housing in Carlsbad for
lower and moderate income households.
5. In consideration ofreceipt of the City Loan, the Developer has further agreed to
observe all the terms and conditions set forth below.
6. In order to ensure that the entire Development will be used and operated in
accordance with these conditions and restrictions, the City and the Developer wish to enter into
this Agreement.
THEREFORE, the City and the Developer hereby agree as follows:
ARTICLE 1.
DEFINITIONS
Section 1.1 Definitions.
When used in this Agreement, the following terms shall have the resp~ctive meanings
assigned to them in this Article 1.
(a) "Actual Household Size" shall mean the actual number of persons in the
applicable household.
(b) "Adjusted Income" shall mean the total anticipated annual income of all
persons in a household as calculated in accordance with 24 CFR 92.203(b)(l) (which
incorporates 24 CFR 813).
(c) "Agreement" shall mean this Regulatory Agreement and Declaration of
Restrictive Covenants.
(d) "Agreement Date" shall mean the last date opposite the respective
signatures of the Developer and the City on this Agreement.
(e) 11Assumed Household Size" shall mean the assumed household size of
three·(3) persons for a two-bedroom unit.
(f) "City" shall mean the City of Carlsbad, a mun1cipal corporation.
(g) 11City Loan" shall mean the funds loaned to the Developer by the City
pursuant to the Loan Agreement.
(h) "Deed of Trust" shall mean the deed of trust of even date herewith in favor
of the City on the Developer' interest in the Property which secures repayment of the City Loan
and the performance of the Loan Agreement.
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(i) "Developer" shall mean Harding Street Neighbors LP, a California limited
partnership, and its permitted successors and assigns.
(j) "Development" shall mean the Property and the forty-four (44) residential
units and related improvements to be acquired on the Prope1ty, as well as any additional
improvements in the future, and all landscaping, roads and parking spaces existing thereon, as
the same may from time to time exist.
(k) "Housing Fund" shall mean the City's Housing Trust Fund.
(1) "Low Income Household" shall mean a household with an Adjusted
Income that does not exceed sixty percent (60%) of the Area Median Income for San Diego
County, and as published by the US Department of Housing and Urban Development.
(m) "Median Income" shall mean the median gross yearly income, adjusted for
Actual Household Size or Assumed Household Size as specified herein, in the County of San
Diego, California, as published from time to time by the United States Department of Housing
and Urban Development ("HUD") and the State of California. In the event that such income
determinations are no longer published, or are not updated for a period of at least eighteen (18)
months, the City shall provide the Developer with other income determinations which are
reasonably similar with respect to methods of calculation to those previously published by HUD
and the State.
(n) "Other Income Household" shall mean a household with an Adjusted
Income which does not exceed ninety percent (90%) of Median Income, adjusted for Actual
Household Size.
(o) "Other Income Units" shall mean the Units which, pursuant to Section
2.1 ( c) below, are required to be occupied by Other Households.
(p) "Property" shall mean the real property described in Exhibit A attached
hereto and incorporated herein.
( q) "Rent" shall mean the total of monthly payments by the Tenant of a Unit
for the following: use and occupancy of the Unit and land and associated facilities, including
parking; any separately charged fees or service charges assessed by the Developer which are
required of all Tenants, other than security deposits; an allowance for the cost of an adequate
level of service for utilities paid by the Tenant, including garbage collection, sewer, water,
electricity, gas and other heating, cooking and refrigeration fuel, but not telephone service or
cable TV; and any other interest, taxes, fees or charges for use of the land or associated facilities
and assessed by a public or private entity other than the Developer, and paid by the Tenant.
(r) "Tenant11 shall mean a household legally occupying a Unit pursuant to a
valid lease with the Developer.
(s) "Te1m11 shall mean the te1m of this Agreement, which shall commence on
the Agreement Date and terminate the earlier of (1) fifty-five (55) years from the issuance of a
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Certificate of Occupancy, or equivalent, or (2) sixty (60) years from the date of this Agreement
and shall continue until the end of the term.
(t) "Unit(s)" shall mean one (1) or all of the forty-four (44) rental units to be
acquired and rehabilitated on the Property; twenty (20) units of which the City will require to be
specifically restricted and rented to lower income households, and twenty-three (23) of which
will be requfred to be specifically restricted and rented to moderate income households. There
will be one (1) umestricted manager's unit.
ARTICLE 2.
AFFORDABILITY AND OCCUPANCY COVENANTS
Section 2.1 Occupancy Requirements.
(a) The Developer shall regulate the use and occupancy of the Units in the
following manner:
Forty-four (44) Units shall be rented to and occupied by or, if vacant, available for occupancy by
households as follows:
Low Other Income
(Sixty Percent) (Ninety Percent) Total
Two Bedroom 20 23 43
Total 20 23 43
(+1 Mgr Unit)
(b) If the Developer is able to construct the larger development of
approximately 140 units, the City and the Developer will amend these occupancy requirements.
( c) Notwithstanding the occupancy and income requirements in this Section
2.1, the existing tenants at the time of acquisition within the Development shall not be required
to be displaced unless required by another public agency.
Section 2.2 Allowable Rent.
(a) Low, Sixty Percent Rent. Subject to Section 2.3 below, the Rent charged
to Tenants of the Low, Sixty Percent Units shall not exceed one-twelfth (1/lih) of thirty percent
(30%) of sixty percent (60%) of Area Median Income for San Diego County, adjusted for
Assumed Household Size.
(c) Other Income Rent. Subject to the provisions of Section 2.3 below, the
Rent charged to Tenants of the Other Income Units shall not exceed one-twelfth (1/lih) of thirty
percent (30%) of ninety percent (90%) of Area Median Income for San Diego County, adjusted
for Assumed Household Size.
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(d) Assumed Household Size. In calculating the allowable Rent for the Units,
the following Assumed Household Size shall be utilized: three (3) persons per two (2) bedroom
unit.
(e) Approval of Rents for Units. Initial rents for all Units shall be approved
by the City prior to occupancy. All rent increases for all Units shall also be submitted to the City
for approval not less than thirty (30) days before notice is given to the affected Tenant and shall
be imposed only if in compliance with this Agreement. The City shall provide the Developer
with a schedule of maximum permissible rents for the Units annually.
Section 2.3 Increased Income of Tenants.
(a) Increased Income Over Low Income. In the event that, following
recertification of a Tenant's income, the Developer dete1mines that a former Low Income
Household has an Adjusted Income that exceeds the qualifying limit for a Low Income
Household but does not exceed ninety percent (90%) of Area Median Income for San Diego
County, adjusted for Actual Household Size, then, upon expiration of the Tenant's lease and sixty
(60) days' written notice to the Tenant, such household's Unit shall be considered an Other Unit,
and the Rent may be increased to one-twelfth (1/Ii11) of thirty percent (30%) of ninety percent
(90%) of Median Income, and the Developer shall rent the next available Unit to a Low Income
Household to comply with the requirements of Section 2.1 above.
(b) Increased Income over 90% of Median Income. If, upon recertification of
a Tenant's income, the Developer determines that a Tenant has an Adjusted Income exceeding
ninety percent (90%) of Area Median Income for San Diego County, adjusted for Actual
Household Size, such Tenant shall be permitted to continue to occupy the Unit, and, upon
expiration of the Tenant's lease, and sixty (60) days' written notice to the Tenant, the Rent may
be increased to one-twelfth (l /1 i 11) of thirty percent (30%) of actual Adjusted Income of the
Tenant, and the Unit shall continue to be classified as an Other Unit until the Tenant vacates the
Unit at which time the Unit shall be re-rented to an income-eligible household to meet the
requirements of Section 2.1.
( c) Termination of Occupancy. Upon termination of occupancy of a Unit by a
Tenant, such Unit shall be deemed to be continuously occupied by a household of the same
income level (e.g., Low Income Household) as the income level of the vacating Tenant, until
such Unit is reoccupied, at which time the income character of the Unit (e.g., Low Income
Household) shall be redetermined.
Section 2.4 · Units Available to the Disabled.
The Developer shall comply with all requirements of the American Disabilities Act.
ARTICLE 3.
INCOME CERTIFICATION AND REPORTING
Section 3 .1 Income Certification.
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The Developer shall obtain, complete and maintain on file, immediately prior to initial
occupancy and annually thereafter, income certifications from each Tenant renting any of the
Units (excluding the manager's Unit). The Developer shall make a good faith effort to verify that
the income provided by an applicant or occupying household in an income certification is
accurate by taking one or more of the following steps as a part of the verification process: (1)
obtain a pay stub for the most recent pay period; (2) obtain an income tax return for the most
recent tax year; (3) conduct a credit agency or similar search; (4) obtain an income verification
form from the applicant's cmTent employer; (5) obtain an income verification form from the
Social Security Administration and/or the California Department of Social Services if the
applicant receives assistance from either of such agencies; or (6) if the applicant is unemployed
and has no such tax return, obtain another form of independent verification. Copies of tenant
income certifications shall be available to the City upon request.
Section 3.2 Annual Report to the City.
The Developer shall submit to the City (a) not later than the sixtieth (60th) day after the
close of each calendar year, or such other date as may reasonably be requested by the City, a
statistical report, including income and rent data for all Units covered by this Agreement, setting
fo11h the information called for therein, and (b) within fifteen ( l 5) days after receipt of a written
request, any other information or completed forms requested by the City in order to comply with
rep011ing requirements of the City.
Section 3 .3 Additional Information.
The Developer shall provide any additional information reasonably requested by the
City. The City shall have the right to examine and make copies of all books, records or other
documents of the Developer which pe11ain to the Development.
Section 3 .4 Records.
The Developer shall maintain complete, accurate and cmTent records pertaining to the
Development, and shall pe1mit any duly authorized representative of the City to inspect records,
including records pertaining to income and household size of Tenants. All Tenant lists,
applications and waiting lists relating to the Development shall at all times be kept separate and
identifiable from any other business of the Developer and shall be maintained as required by the
City, in a reasonable condition for proper audit and subject to examination during business hours
by representatives of the City. The Developer shall retain copies of all materials obtained or
produced with respect to occupancy of the Units for a period of at least five ( 5) years.
Section 3.5 On-site Inspection.
The City shall have the right to perform an on-site inspection of the Development at least
one (1) time per year. The Developer agrees to cooperate in such inspection. If the City desires
to inspect the interior of the Units, the City shall give Developer sufficient notice to allow the
Developer to give seventy-two (72) homs notice to residents. Such right to annually inspect the
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Development shall be addition to the City's right to inspect the Development in accordance with
the City's municipal code as may be amended from time to time.
ARTICLE 4.
OPERATION OF THE DEVELOPMENT
Section 4.1 Residential Use.
The Development shall be operated only for residential use. No part of the Development
shall be operated as short term transient or emergency housing.
Section 4.2 Taxes and Assessments.
The Developer shall pay all real and personal property taxes, assessments and charges
and all franchise, income, employment, old age benefit, withholding, sales, and other taxes
assessed against it, or payable by it, at such times and in such manner as to prevent any penalty
from accrning, or any lien or charge from attaching to the Property; provided, however, that
Developer shall have the right to contest in good faith, any such taxes, assessments, or charges.
In the event Developer exercise their rights to contest any tax, assessment, or charge against it.
Developer, on final determination of the proceeding or contest, shall immediately pay or
discharge any decision or judgment rendered against it, together with all costs, charges and
interest. The Developer shall not apply for a property tax exemption for the Property under any
provision oflaw, including but not limited to Revenue and Taxation Section 214, without the
City's prior written consent.
Section 4.3 Preference to Displacees.
The Developer shall give a preference in the rental of any Units to eligible households
displaced by activity of the City upon receiving a written request of the City regarding such
displacement.
ARTICLE 5.
PROPERTY MANAGEMENT AND MAINTENANCE
Section 5 .1 Management Responsibilities.
The Developer is responsible for all management functions with respect to the
Development, including without limitation the selection of tenants, certification and
recertification of household size and income, evictions, collection of rents and deposits,
maintenance, landscaping, routine and extraordinary repairs, replacement of capital items, and
security. The City shall have no responsibility over management of the Development. The
Developer shall retain a professional property management company approved by the City in its
reasonable discretion to perform its management duties hereunder as set fotth below. A resident
manager shall also be required.
Section 5 .2 Management Agent.
The Development shall at all times be managed by an experienced management agent
reasonably acceptable to the City, with demonstrated ability to operate residential facilities like
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the Development in a manner that will provide decent, safe, and sanitary housing (as approved,
the "Management Agent"). The Developer shall submit for the City's approval the identity of
any proposed Management Agent. The Developer shall also submit such additional information
about the background, experience and financial condition of any proposed Management Agent as
is reasonably necessary for the City to determine whether the proposed Management Agent
meets the standard for a qualified Management Agent set forth above. If the proposed
Management Agent meets the standard for a qualified Management Agent set forth above, the
City shall approve the proposed Management Agent by notifying the Developer in writing. If the
proposed Management Agent is disapproved by the City, the disapproval shall state with
reasonable specificity the basis for disapproval. Thereafter, the Developer shall submit a
· different proposed Management Agent, and submit such additional information about the
background, experience and financial condition of the proposed Management Agent as is
reasonably necessary for the City to determine whether the proposed Management Agent meets
the standard for a qualified Management Agent set forth above. Only upon the City's written
approval of the Developer's proposed Management Agent shall constitute the Developer's
compliance with this Section.
Section 5.3 Periodic Perfo1mance Review.
The City reserves the right to conduct an annual ( or more frequently, if deemed necessary
by the City) review of the management practices and financial status of the Development,
including the performance of the Management Agent. The purpose of each periodic review will
be to .enable the City to determine if the Development is being operated and managed in
accordance with the requirements and standards of this Agreement. The Developer shall
cooperate with the City in such reviews.
Section 5 A Replacement of Management Agent.
If, as a result of a periodic review, the City determines in its reasonable judgment that the
Development is not being operated and managed in accordance with any of the material
requirements and standards of this Agreement, the City shall deliver notice to Developer of its
intention to cause replacement of the Management Agent, including the reasons therefor. Within
fifteen (15) days of receipt by Developer of such written notice, City staff and the Developer
shall meet in good faith to consider methods for improving the financial and operating status of
the Development, including, without limitation, replacement of the Management Agent.
If, after such meeting, City staff recommends in writing the replacement of the
Management Agent, Developer shall promptly dismiss the then Management Agent, and shall
appoint as the Management Agent a person or entity meeting the standards for a Management
Agent set forth in Section 5.2 above and approved by the City pursuant to Section 5.2 above.
Any contract for the operation or management of the Development entered into by
Developer shall provide that the contract can be terminated as set forth above. Failure to remove
the Management Agent in accordance with the provisions of this Section shall constitute default
under this Agreement, and the City may enforce this provision through legal proceedings as
specified in Section 6.8.
Carol-Harding Duplex Regulatory Agreement; Approved by C,8 3/11/13
Section 5.5 Approval of Management Policies.
The Developer shall submit its written management policies with respect to the
Development to the City for its review, and shall amend such policies in any way necessary to
ensure that such policies comply with the provisions of this Agreement.
Section 5.6 Property Maintenance.
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The Developer agrees, for the entire Term of this Agreement, to maintain all interior and
exterior improvements, including landscaping, on the Property in good condition and repair (and,
as to landscaping, in a healthy condition) and in accordance with all applicable laws, rules,
ordinances, orders and regulations of all federal, state, county, municipal, and other
governmental agencies and bodies having or claiming jurisdiction and all their respective
departments, bureaus, and officials.
The City places prime impo11ance on quality maintenance to protect its investment and to
ensure that all City-assisted affordable housing projects within the City are not allowed to
deteriorate due to below-average maintenance. Normal wear and tear of the Development will
be acceptable to the City assuming the Developer agrees to provide all necessary improvements
to assure the Development is maintained in good condition. The Developer shall make all
repairs and replacements necessary to keep the improvements in good condition and repair.
In the event that the Developer breaches any of the covenants contained in this section
and such default continues for a period often (10) days after written notice from the City with
respect to graffiti, debris, and waste material, or thirty (30) days after written notice with respect
to general maintenance, landscaping and building improvements, (and subject to any stricter
requirements included in any applicable City ordinance) then the City, in addition to whatever
other remedy it may have at law or in equity, shall have the right to enter upon the Property and
perform or cause to be performed all such acts and work necessary to cure the default. Pursuant
to such right of entry, the City shall be permitted (but is not required) to enter upon the Property
and perform all acts and work necessary to protect, maintain, and preserve the improvements and
landscaped areas on the Property, and to attach a lien on the Prope11y, or to assess the Property,
in the amount of the reasonable expenditures arising from such acts and work of protection,
maintenance, and preservation by the City and/or costs of such cure, including an administrative
charge equal to fifteen percent (15%) of such expenditures, which amount shall be promptly paid
by the Developer to the City upon demand.
ARTICLE 6.
MISCELLANEOUS
Section 6.1 Lease Provisions.
The Developer shall use a form of Tenant lease approved by the City. The form of
Tenant lease shall also comply with all requirements of this Agreement and the Loan Agreement,
and shall, among other matters:
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(a) provide for tennination of the lease and consent by the Tenant to
immediate eviction for failure: (1) to provide any information required under this Agreement or
reasonably requested by the Developer to establish or recertify the Tenant's qualification, or the
qualification of the Tenant's household, for occupancy in the Development in accordance with
the standards set forth in this Agreement, or (2) to qualify as a Low Income Household as a
result of any material misrepresentation made by such Tenant with respect to the income
computation or certification; and
(b) be for an initial te1m of not less than one (1) year, and provide for no Rent
increase during such year. After the initial year of tenancy, the lease may be month to month by
mutual agreement of the Developer and the Tenant, however the Rent may not be raised more
often than once every twelve (12) months. The Developer will provide each Tenant with at least
sixty (60) days' written notice of any increase in Rent applicable to such Tenant, and with such
fmther notice as may be required by Section 2.3 above.
( c) any termination of a lease or refusal by the Developer to renew must be
preceded by no less than sixty (60) days written notice to the tenant by the Developer specifying
the grounds for the action.
Section 6.2 Nondiscrimination.
All of the Units shall be available for occupancy on a continuous basis to members of the
general public who are income eligible. The Developer shall not give preference to any ·
particular class or group of persons in renting or selling the Units, except to the extent that the
Units are required to be leased tci Low Income Households. There shall be no discrimination
against or segregation of any person or group of persons, on account of race, color, creed,
religion, sex, sexual orientation, marital status, national origin, source of income ( e.g., SSI), age,
ancestry, or disability, in the leasing, subleasing, transferring, use, occupancy, tenure, or
enjoyment of any Unit nor shall the Developer or any person claiming under or through the
Developer, establish or permit any such practice or practices of discrimination or segregation
with reference to the selection, location, number, use, or occupancy, of tenants, lessees,
sublessees, subtenants, or vendees of any Unit or in connection with the employment of persons
for the construction, operation and management of any Unit. All deeds, leases or contracts made
or entered into by Developer as to the Units or the Development or p01tion thereof, shall contain
covenants concerning discrimination as prescribed by the Loan Agreement.
Section 6.3 Section 8 Certificate Holders.
The Developer will accept as Tenants, on the same basis as all other prospective Tenants,
persons who are recipients of federal certificates for rent subsidies pursuant to. the existing
housing program under Section 8 of the United States Housing Act of 1937, as amended, or its
successor. The Developer shall not apply selection criteria to Section 8 certificate or voucher
holders that are more burdensome than criteria applied to all other prospective Tenants, nor shall
the Developer apply or permit the application of management policies or lease provisions with
respect to the Development which have the effect of precluding occupancy of units by such
prospective Tenants.
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Section 6.4 Term.
The provisions of this Agreement shall apply to the Prope1ty for the entire Term. This
Agreement shall bind any successor, heir or assign of the Developer, whether a change in interest
occurs voluntarily or involuntarily, by operation of law or otherwise, except as expressly
released by the City. The City makes the City Loan on the condition, and in consideration of,
this provision, and would not do so otherwise.
Section 6.5 Compliance with Loan Agreement and Program Requirements.
The Developer's actions with respect to the Property shall at all times be in full
confo1mity with: (i) all requirements of the Loan Agreement; and, (ii) all requirements imposed
on projects assisted with the City's Housing Trnst Fund.
Section 6.6 Notice of Expiration ofTe1m.
At least six (6) months prior to the expiration of the Tenn the Developer shall provide by
first-class mail, postage prepaid, a notice to all Tenants in the Units containing (a) the anticipated
date of the expiration of the Tenn, (b) any anticipated Rent increase upon the expiration of the
Term, (c) a statement that a copy of such notice will be sent to the City, and (d) a statement that a
public hearing may be held by the City on the issue and that the Tenant will receive notice of the
hearing at least fifteen (15) days in advance of any such hearing. The Developer shall also file a
copy of the above-described notice with the City.
Section 6. 7 Covenants to Run With the Land.
The City and the Developer hereby declare their express intent that the covenants and
restrictions set f01th in this Agreement shall run with the land, and shall bind all successors in
title to the Prope1ty, provided, however, that on the expiration of the Term of this Agreement
said covenants and restrictions shall expire. Each and every contract, deed or other instrument
hereafter executed covering or conveying the Property or any portion thereof, shall be held
conclusively to have been executed, delivered and accepted subject to such covenants and
restrictions, regardless of whether such covenants or restrictions are set forth in such contract,
deed or other instrument, unless the City expressly releases such conveyed p01tion of the
Property from the requirements of this Agreement.
Section 6.8 Default by the Developer; Enforcement by the City.
If the Developer fails to perform any obligation under this Agreement (including but not
limited to the failure to rent the Units as set forth in Section 2.1 ), and fails to cure the default
within thirty (30) days after the City has notified the Developer in writing of the default or, if the
default cannot be cured within thiity (30) days, fails to commence to cure within thirty (30) days
and thereafter diligently pursue such cure and complete such cure within ninety (90) days, or
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such longer period as approved by the City in writing, the City shall have the right to enforce this
Agreement by any or all of the following actions, or any other remedy provided by law:
(a) Calling the City Loan. The City may declare a default under the Loan
Agreement, and declare the City Loan due and payable and proceed with foreclosure under the
Deed of Trnst.
(b) Action to Compel Performance or for Damages. The City may bring an
action at law or in equity to compel the Developer' performance of its obligations under this
Agreement, and/or for damages.
(c) Remedies Provided Under Loan Agreement. The City may exercise any
other remedy provided under the Loan Agreement.
Section 6.9 Recording and Filing.
The City and the Developer shall cause this Agreement, and all amendments and
supplements to it, to be recorded in the Official Records of the County of San Diego.
Section 6.10 Governing Law.
This Agreement shall be governed by the laws of the State of California.
Section 6.11 Waiver of Requirements.
Any of the requirements of this Agreement may be expressly waived by the City in
writing, but no waiver by the City of any requirement of this Agreement shall, or shall be
deemed to, extend to or affect any other provision of this Agreement.
Section 6.12 Amendments.
This Agreement may be amended only by a written instrument executed by all the patiies
hereto or their successors in title, and duly recorded in the real property records of the County of
San Diego.
Section 6.13 Notices.
Any notice requirement set forth herein shall be deemed to be satisfied three (3) days
after mailing of the notice first-class United States certified mail, postage prepaid, addressed to
the appropriate party as follows:
Developer: Harding Street Neighbors LP
C/O Irvine Housing Opportunities
19772 MacArthur Blvd
Suite 110
Irvine, Ca. 92612
Carol-Harding Duplex Regulatory Agreement; Approved by C}"23/l l/l 3
With a copy to:
With a copy to:
With a copy to:
City:
Attn: Chief Executive Officer
C&C Development Co
14211 Yorba Street
Suite 200
Tustin, Ca. 92780
Goldfarb & Lipman LLP
1300 Clay Street 11 th Floor
Oakland, Ca. 94612
Attn: Luis A. Rodriguez
Goldfarb and Lipman LLP
1300 Clay Street 11 th Floor
Oakland, Ca 94612
Attn: Amy DeVaudrenil
City of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, Ca 92008
Attn: Housing and Neighborhood Services Director
Such addresses may be changed by notice to the other party given in the same manner as
provided above.
Section 6.14 Severability.
14779
If any provision of this Agreement shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining p011ions of this Agreement shall not in any way be
affected or impaired thereby.
Section 6.15 Multiple Originals; Counterpai1s.
This Agreement may be executed in multiple originals, each of which is deemed to be an
original, and may be signed in counterparts.
Carol-Harding Duplex Regulatory Agreement; Approved by Q'33/ 11/13
APPROVED AS TO FORM
By City Attorney or Assistant City
Attorney
By: r/--W& 5 I 3 -/5
All party signatures must be notarized.
Carol-Harding Duplex Regulatory Agreement; Approved by Q153/1 l /13
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EXHIBIT A
(Legal Description)
14787
The land is situated in the State of California, County of San Diego, City of Carlsbad, and
is described as follows:
A-1
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PARCEL A:
LOTS 1, 3 TO 9, INCLUSIVE, 11 TO 13 INCLUSIVE, AND 25 TO 33 INCLUSIVE, OF PALM VISTA IN
THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO
THE MAP THEREOF NO. 2969, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN
DIEGO COUNTY, MARCH 16, 1953.
EXCEPTING THEREFROM THAT PORTION DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST NORTHERLY CORNER OF LOT 13 OF PALM VISTA, ACCORDING TO
MAP THEREOF NO. 2969; THENCE ALONG THE EASTERLY LINE OF SAID LOT 13, SOUTH
19°17'11" EAST 161.15 FEET TO THE SOUTHEASTERLY CORNER OF SAID LOT 13, SAID POINT
BEING ALSO THE EASTERLY CORNER OF SAID LOT 14; THENCE ALONG THE SOUTHEASTERLY
LINE OF SAID LOT 14, SOUTH 61°51'52" WEST 68.06 FEET; THENCE NORTH 08°26'25" WEST
42.85 FEET; THENCE NORTH 14°49'18" WEST 95.30 FEET; THENCE NORTH 25°13'44" WEST 26.19
FEET TO A POINT IN THE NORTHWESTERLY LINE OF SAID LOT 13, SAID POINT BEARS SOUTH
61 °51 '52" WEST 55.14 FEET FROM SAID MOST NORTHERLY CORNER; THENCE ALONG SAID
NORTHWESTERLY LINE NORTH 61°51'52" EAST 55.14 FEET TO THE POINT OF BEGINNING.
FURTHER EXCEPTING THEREFROM, THOSE PORTIONS OF LOTS 8, 9, 11 AND 12 AS CONVEYED
TO THE STATE OF CALIFORNIA FOR HIGHWAY PURPOSES AS DESCRIBED IN DEED
RECORDED AUGUST 24, 1967 AS FILE NO. 127829 OF OFFICIAL RECORDS OF SAID COUNTY.
APN: 204-292-01 (LOT 1); 204-292-10 (LOT 3); 204-292-1 1 (LOT 4); 204-292-12 (LOT 5); 204-292-13
(LOT 6); 204-292-14 (LOT 7); 204-292-17 (LOT 8); 204-292-18 (LOT 9); 204-292-20 (LOT 11 ); 204-292-
21 (LOT 12); 204-292-22(LOT 13); 204-291-26 (LOT 25); 204-291-25 (LOT 26); 204-291-24 (LOT 27);
204-291-23 (LOT 28); 204-291-19 (LOT 29); 204-291-20 (LOT 30); 204-291-21 (LOT 31); 204-291-22
(LOT 32); 204-291-14 (LOT 33)
PARCEL B:
THAT PORTION OF LOT 236 OF THUM LANDS, IN THE CITY OF CARLSBAD, COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF N0.1681, FILED IN THE OFFICE
OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, DECEMBER 9, 1915, DESCRIBED AS
FOLLOWS:
BEGINNING AT A POINT ON THE CENTER LINE OF MAGNOLIA AVENUE, DISTANT THEREON
SOUTH 61°21' WEST, 446.86 FEET FROM ITS INTERSECTION WITH THE CENTER LINE OF ADAMS
STREET, SAID POINT OF BEGINNING BEING THE MOST WESTERLY CORNER OF THE LAND
CONVEYED BY THE SOUTH COAST LAND COMPANY TO DEAN F. PALMER, BY DEED DATED
MAY 5, 1927, AND RECORDED IN BOOK 1335, PAGE 384 OF DEEDS, RECORDS OF SAID
COUNTY; THENCE ALONG THE SOUTHWESTERLY LINE OF THE LAND AS CONVEYED TO SAID
PALMER ANO THE SOUTHEASTERLY PROLONGATION OF SAID LINE, SOUTH 28°39' EAST, A
DISTANCE OF 487.47 FEET, MORE OR LESS, TO AN INTERSECTION WITH THE
NORTHEASTERLY PROLONGATION OF THE NORTHWESTERLY LINE OF THE LAND CONVEYED
BY SOUTH COAST LAND COMPANY TO LAURA JONES BY DEED DATED MAY 14, 1929, AND
RECORDED IN BOOK 1629, PAGE 431 OF DEEDS, RECORDS OF SAID COUNTY; THENCE ALONG
SAID PROLONGATION AND THE NORTHWESTERLY LINE OF THE LAND SO CONVEYED TO SAID
JONES, SOUTH 61°21' WEST, A DISTANCE OF 536.38 FEET, MORE OR LESS, TO A POINT ON
THE NORTHEASTERLY LINE OF THE LAND CONVEYED BY SOUTH COAST LAND COMPANY
TO P.J. WHELDON AND MARY H. WHELDON BY DEED DATED JULY 7, 1926, AND RECORDED IN
BOOK 1180, PAGE 463 OF DEEDS, RECORDS OF SAID COUNTY; THENCE ALONG THE SAID
NORTHEASTERL YLINE OF THE LAND SO CONVEYED TO SAID WHELDON AND ALONG THE
NORTHWESTERLY PROLONGATION THEREOF, NORTH 28°39' WEST, A DISTANCE OF 487.47
FEET, MORE OR LESS, TO A POINT ON THE CENTER LINE OF MAGNOLIA AVENUE; THENCE
14 739
ALONG SAID CENTER LINE NORTH 61°21' EAST, A DISTANCE OF 536.38 FEET, MORE OR LESS,
TO THE POINT OF BEGINNING.
EXCEPTING THEREFROM THAT PORTION LYING NORTHEASTERLY OF THE FOLLOWING
DESCRIBED LINE:
BEGINNING AT A POINT IN THE NORTHWESTERLY BOUNDARY OF LOT 8 OF PALM VISTA,
ACCORDING TO THE MAP THEREOF NO. 2969, FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY, MARCH 16, 1953, SAID POINT BEARS SOUTH 61"58'46"
WEST, 71.99.FEET FROM THE MOST NORTHERLY CORNER OF SAID LOT 8; THENCE (1) NORTH
22°36'42" WEST, 359.22 FEET; THENCE (2) NORTH 18°34'28" WEST, 131.94 FEET TO A POINT IN
THE CENTER LINE OF MAGNOLIA AVENUE, LAST SAID POINT BEARS NORTH 61°54'01" EAST,
162.74 FEET FROM THE INTERSECTION OF SAID CENTER LINE AN THE CENTER LINE OF
HARDING STREET, FORMERLY 5TH STREET, AS SAID STREET IS SHOWN ON THE
RESUBDIVISION OF A PORTION OF ALLES AVOCADO ACRES, ACCORDING TO THE MAP
THEREOF NO. 2027, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO
COUNTY, MAY 17, 1927.
APN: 204-292-16
PARCEL C:
LOT 24 OF PALM VISTA IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, ACCORDING TO MAP THEREOF NO. 2969, FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY, MARCH 16, 1953.
APN: 204-291-27
•
Fidelity National Title Company
1300 Dove Street, Suite 310, Newport Beach, CA 92660
Phone: (949) 622-5000 • Fax: (949) 477-3600
Debbie Fountain
City of Carlsbad
Housing and Neighborhood Services Department
1200 Carlsbad Village Drive
Carlsbad, CA 92008
Date: May 17, 2013
Escrow No.: 23022757-0t0-VR2
Property Address:
Carlsbad, CA
In connection with the above mentioned property, enclosed please find the following:
Original Note
2 Originals of the Loan Agreement
We appreciate the oppo1tunity of being of service to you. lfwe can be of further assistance, please feel free to call upon us.
Sincerely
Valerie Rapp
VP/Senior Commercial Escrow Officer
VR2
Enclosure( s)
Misc Trans.doc