Loading...
HomeMy WebLinkAboutRA001-2008 Colony Square RDA Repurchase AgreementRECORDING REQUESTED BY: FIRST AMERICAN TITLE COMPANY When Recorded Return To: Marcia McClure Torgerson City Clerk 6907 El Camino Real Atascadero, California 93422 CITY OF ATAS ADERO , CC%ITRACT# 01 JULIE RQDEWALD IF San Luis Obispo County—Clerk/Recorder 8/04/2008 Recorded at the request of 8:20 AM First American Title Company DOC #: 2008039995 111111111111111111111111111 L-7— SPACE ABOVE THIS LINE FOR RECORDER'S USE Titles: 1 Pages: 9 Fees 0.00 Taxes 0.00 Others 0.00 PAID $0.00 AGREEMENT BETWEEN COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO AND COLONY SQUARE, LLC, REGARDING REPURCHASE OF PROPERTY This Agreement ("Agreement") is made the 10th day of June, 2008, by and between the Community Redevelopment Agency of the City of Atascadero, California, a public body, corporate and politic ("Agency"), and Colony Square, LLC, a California limited liability company ("Colony Square"), with reference to the following facts: RECITALS A. Agency is the record owner of certain real property in the vicinity of El Camino Real and Santa Ysabel Avenue in the City of Atascadero, California, more particularly described as follows: Lot 4 as shown on Map of Tract 2733 recorded in Map Book 31, Pages 5a through in the office of the Recorder of San Luis Obispo County, State of California (herein "Lot 4" or "the Agency Property"). For purposes of this Agreement, the aforementioned final subdivision map of Tract 2733 shall be referred to as "Tract 2733". B. Colony Square is the record owner of the following real property in the vicinity of El Camino Real and Santa Ysabel Avenue in the City of Atascadero, California more particularly described as follows:: 1. Lots 1, 2, 3, 5, 6, 7, 8 and 9 as shown on Map of Tract 2733 recorded in Map Book 3, Pages_ through, in the office of the Recorder of San Luis Obispo County, State of California (herein "Lots 1, 2, 3, 5, 6, 7, 8 and/or 9" as the case may be). 2. Parcel 2 of Parcel Map No. AT 85-225 in the City of Atascadero, County of San Luis Obispo, State of California, according to map recorded February 29, 1988 in Book 43 Page 8 of Parcel Maps, in the office of the County Recorder of said County, excepting therefrom that portion conveyed to the State of California by deed recorded August 25, 1997 as Instrument No. 1997-045230 of Official Records, described as follows: "Beginning at a point on course numbered 2 described in the deed to the State of California recorded March 13, 1975 in Book 1825 Page 827 of Official Records, said point being distant 92.24 feet northeasterly along said course from the southwesterly terminus thereof; thence northeasterly, tangent to said course, along a curve to the left with a radius of 40.00 feet through an angle of 76054'14" for an arc length of 53.69 feet to the southwesterly line of Capistrano Avenue, also known as South Mall Extension, as shown on said map; thence southerly along said line, to the point of beginning"; (herein "Parcel 2"). C. On August 18, 2004, a Settlement Agreement (hereafter "Settlement Agreement") was entered into by Creekside Parcel Associates, a California General Partnership, James M. Harrison, Kenneth B. Fryer(hereafter "Plaintiffs") and the City of Atascadero, Atascadero Unified School District and the Atascadero Historical Society(hereafter "Defendants") . D. Section 2 (d) of the Settlement Agreement provides, in pertinent part, that: "Plaintiffs, or their authorized designee, shall repurchase from the City of Atascadero an unimproved portion of the Property, approximately 20,000 square feet in size, the exact location and dimension to be agreed upon by the Plaintiffs and the City of Atascadero, for a price of seven dollars($7.00) per square foot." The Property referenced in Section 2(d) of the Settlement Agreement is now known as Lot 4. E. On November 3, 2004, the City of Atascadero("City") and the Agency entered into an Assignment Agreement pursuant to which the City assigned to the Agency all of its right and duties under the Settlement Agreement. F. On December 21, 2004, Lot 4 was transferred by Creekside Parcel Associates to the Agency. G. Colony Square LLC is the designee of Plaintiffs for purposes of the repurchase of the Property referenced in Section 2 (d) of the Settlement Agreement. H. The Final Map for Tract 2733 is scheduled to be presented to the City Council of the City of Atascadero for approval on June 10, 2008. I. The Final Map currently includes land to be transferred by the Agency to Colony Square which land is subject to the repurchase provisions of Section 2(d) of the Settlement Agreement of 20,342.52 square feet. J. The parties intend that this Agreement will provide for a method to confirm the payment terms for the repurchase of the Property referenced in Section 2(d) of the Settlement Agreement. IN K. A copy of the final subdivision map of Tract 2733 is attached hereto as Exhibit Page 2 of 7 TERMS OF AGREEMENT NOW, THEREFORE, the parties agree as follows: 1. The foregoing Recitals are hereby incorporated by reference. 2. If the City Council approves the Final Map for Tract 2733, then the Final Map shall be thereafter be recorded with the County Recorders Office of San Luis Obispo County(hereafter "Recording Date"). 3. Prior to the Recording Date, Colony Square shall pay to the Agency the sum of $142,397.52 for the 20,342.52 square feet referenced in the Final Map for Tract 2733 at the price of $7.00 per square foot pursuant to Section 2(d) of the Settlement Agreement 4. This Agreement is binding on all heirs, successors and/or assigns of the parties. 5. This Agreement shall be recorded with the County Recorders Office of the County of San Luis Obispo. 6. This Agreement is effective as of the Recording Date as defined in Section 2 of this Agreement. IN WITNESS WHEREOF, the foregoing instrument was subscribed the day and year as shown below. COLONY SQUARE, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY DATED:Bv:v��� \ ger est DATED: By: ` anager a 1 t! I HEREBY CONSENT TO THE DESIGNATION OF COLONY SQUARE LLC FOR THE PURPOSE OF THE REPURCHASE OF THE PROPERTY REFERENCED IN THIS AGREEMENT. DATED: 4� ALL SIGNATURES MUST BE NOTARIZED Page 3 of 7 DATED DATED: --) - g -off DATED: ?' <�- 64D State of California County of San Luis Obispo COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO By: .o ELLEN BERAUD, AGENCY CHAIR ATTEST: By: MARCIA MC CLURE TOtbERSON, C.M.C., CITY CLERK APPROVED AS TO FORM AND CONTENT: By: a BRIAN A. PIERIK, CITY ATTORNEY On 00 before me, h tr1C\©f1 VA (j l e a Notary Public, personally appeared 2 CaM P S �-i , n C i S UCI , who proved to me on the basis of satisfactory evidence to be the person( -s -)-whose name(a) is/ate subscribed to the within instrument and acknowledged to me that he/sem executed the same in his/he4 authorized capacity(ies} and that by his/h6w4Lai signature( -s+ on the instrument the persons F4, or the entity upon behalf of which the person(-�cted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and Official seal. l�1 Signature Page 4 of 7 SHAW40N MARIE S*A8 _Comrr"M #t 1549704 01MV Notary Pubo - CaMtorrdo San Luis Obispo County Comm. Expires Feb 3. 200 AGREEMENT BETWEEN COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO AND COLONY SQUARE, LLC, REGARDING REPURCHASE OF PROPERTY COMMUNITY REDEVELOPMENT AGENCY OF ATASCADERO DATED: —— By: MA h. WADE MCKINNEY, EXECUTIVE DIRECTOR State of California County of San Luis Obispo On ) 'Z-00 �, before me, < < 14(t /3Y ' J'"�,0� a Notary Public, personally appeared Cn 1'Y) e k—') h , who pro ed to me on the basis of satisfactory evidence to be the personK whose name( Is/a`N subscribed to the within instrument and acknowledged to me that he/she/hsey executed the same in his/her/their authorized capacityNs) and that by his/her/fir signatures} on the instrument the personN), or the entity upon behalf of which the personTs) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and Official seal. Cawriron/ li7MM ��� ---'' goler� NrON - 1F0:; COW ib Ul�C l � a �OtMMf► Signature GOVERNMENT CODE 27361.7 I certify under the penalty of perjury that the notary seal on the document to which this statement is attached reads as follows: Name of Notary Name of County �a-,n Date Commission Expires U Y1 Commission# Signature of person (firm name if any) making verification Date-- 1--0 Location �a,,(X LO (City) State of California State of California County of San Luis Obispo On_ (� O e ' Q Q O O S before me,Sa Notary Public, personally appeared ' , who proved to me on the basis of satisfactory evidence to be the person(4 whose name(} is/,arp— subscribed to the within instrument and acknowledged to me that he/sem executed the same in his/� authorized capacity( and that by his/hQathok signatureH on the instrument the personfs , r the entity upon behalf of which the personfs) acted, executed the instrument. I certify under PENALTY 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 State of California County of San Luis Obispo 024WON MARIE SIMS Commission #f 15497 Notary Public - CoBbmla San Luis Obispo County My Comm. Expires Feb 3, 200 On To I y -7 1 ao0$ , before me, Z A• ,QLASQUE Z , a Notary Public, personally appeared KO1414 e*tL IS. who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies) and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY 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 Page 5 of 7 —L.A.B ASQUEZ COMM. # 1601565 �e Notary Public -California % County of Sac Luis Ob; -PO My Comm. Exp. Sept. 16, 2009 State of California County of San Luis Obispo 5 S. On s, a Q O? before me,�h"(Aoo Haf I e SA Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the persons} whose name( is/afe subscribed to the within instrument and acknowledged to me that lie/she/tom} executed the same in lai-q/her/tom authorized capacity4es� and that by hiss/her/their signature(4 on the instrument the person44, or the entity upon behalf of which the person(e�-acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and Official seal.L --&a- .irrr•WOOMOM�"�i�'s`��'"� C— Coma"" ♦ 18197pr "Oftv h4ft - Camornlo IM Lula abMpo county r COMM. EVkft Fab s, atm IP, Signature County of San Luis Obispo On Qi before me,��in (Z 1 &n5,a Notary personally appeared ,who proved to me on the basis of satisfactory evidence to be the personko whose name( -&4 is/are subscribed to the within instrument and acknowledged to me that he/may executed the same in his/h"W=ir authorized capacity(ies) and that by his/hQr.L"r signature(* on the instrument the person(&), or the entity upon behalf of which the person +acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and Official seal. 2�Qd Signature LJ Page 6 of 7 rte, ` I 04 • , State of California County of San Luis Obispo On j j r�Dng before me, 1 e a Notary Public personally appeared i a�'QLho proved to me on the basis of satisfactory evidence to be the person(&} whose name is/are-subscribed to the within instrument and acknowledged to me that 4+e/she/t114y executed the same in his/her/ authorized capacity4es) and that by his/her/thek signature(&) on the instrument the person( -r or the entity upon behalf of which the persor4&)-acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and Official seal. 10 62 N NOW ���J ', �✓ Conr Notay Mft - Cawarro Signature knLuis Obbpo Cw* Mr Carrs. Evow Feb 3, Page 7of7 PM OF DOCUMENT