HomeMy WebLinkAbout2006-019 Centex Homes Dove Creek - Memorandum of Development Cl i Y OF A ADAD f-3-111
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CONTRACTN JULIE RUDEWALD
San Luis Obispo County—Clerk/Recorder 5/16/2006
C c) Recorded at the request of 8:00 AM
Recording Requested by%ma—
First American Title Company
When recorded, return to: DOC#: 2006033858 Titles: 1 Pages: 5
Fees 19.00
City of Atascadero Taxes 0.00
6907 El Camino Real Others 0.00
Atascadero, CA 93422 PAID $19.00
(Space above this line for Recorder's use only)
APN
MEMORANDUM OF DEVELOPMENT CONDITION
This Memorandum of Development Condition is made and entered into S-1?1 ,
2006, by and between Centex Homes, a Nevada general partnership ("Developer") and the City
of Atascadero ("City").
RECITALS:
A. On September 14, 2004, the City approved Resolution B, constituting a resolution of the
City Council of the City of Atascadero, California, approving conditional use permit 2003-0099
("Master Plan of Development") on APN 045-342-003, 045-381-010, 045-381-007,
045-381-009, 045-331-002, 045-331-004, 045-331-008, 045-331-001, 045-342-005,
045-342-004, 045-342-013, 045-342-001, 045-342-008, 045-342-002, 045-352-005 (Dove
Creek/Bermant Development Company) (the "Resolution"). The Resolution affects the property
in the City of Atascadero, County of San Luis Obispo, State of California described in Exhibit A
attached hereto (the "Property").
B. The Resolution approved Conditional Use Permit 2003-0099 (Dove Creek Master Plan of
Development) and tree removals subject to certain Conditions of Approval. Condition of
Approval No. 10 required certain funds to be deposited by Developer and for Developer and City
to enter into an agreement providing that, if a building permit(s) had not been issued for the
Property for a minimum of 45,000 square feet of improvements by July 1, 2016, the City shall
acquire the Property from Developer.
C. The parties desire to memorialize their agreement in satisfaction of Condition of
Approval No. 10.
NOW, THEREFORE, in consideration of the premises described above, the parties
hereto agree as follows:
1. Deposit of Funds. Prior to or concurrently with the execution of this Memorandum,
Developer has deposited the sum of $400,000 with City, which shall be placed by City in an
interest bearing account with all interest to accrue to City(the "Account"). If a building
permit(s) for a minimum of 45,000 square feet of improvements on the Property has not been
issued to Developer, or its successors, by July 1, 2006, City shall have the right to withdraw
$40,000 from the Account. If, in each successive year commencing July 1, 2007, and continuing
through July 1, 2015, a building permit(s) for a minimum of 45,000 square feet of improvements
on the Property have not been issued by City to Developer or its successors, City shall have the
right to withdraw $40,000 per year from the Account. At such time as one or more building
permits have been issued for a minimum of 45,000 square feet of improvements on the Property,
City shall immediately disburse the remaining balance in the Account to Developer, or its
successors in interest.
2. Transfer of Property. If a building permit(s) has not been issued for a minimum of
45,000 square feet of improvements on the Property by July 1, 2016, Developer shall convey the
Property to City in its then condition, subject to improvements then existing, leases then in
effect, and all easements, rights of way, deeds of trust, mortgages and covenants, conditions, and
restrictions then of record. City shall pay any transfer taxes and recording charges in connection
with the transfer.
3. Quitclaim of Memorandum. At such time as a building permit(s) has been issued for a
minimum of 45,000 square feet of improvements on the Property, City shall execute and deliver
to Developer a Quitclaim Deed, quitclaiming and releasing to Developer all right, title, and
interest under this Memorandum, to the Account, and to acquire the Property. Notwithstanding
the foregoing, at such time as 45,000 square feet of improvements have been constructed on the
Property pursuant to validly issued building permits, this Memorandum and all rights hereunder
shall be deemed terminated and of no further force and effect.
4. Amendment in Writing. This Memorandum contains the entire agreement of the parties
with respect to the subject matter described herein. This Memorandum supersedes any prior or
contemporaneous negotiations, representations, agreements, and understandings of the parties
with respect to such matter, whether written or oral. The parties acknowledge that each has not
relied on any promise, representation or warranty, express or implied, not contained in this
Memorandum. This Memorandum cannot be altered, amended or modified in any respect,
except by a writing duly executed by all parties hereto.
5. Authority to Execute Memorandum. Each signatory hereto represents and warrants
that it has full authority to execute this Memorandum and bind its organization to its terms and
conditions.
6. Successors and Assigns. This instrument shall bind and inure to the benefit of the
respective successors and assigns of the parties hereto.
7. Severability. If any term, provision, covenant or condition of this Memorandum is held
by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the
Memorandum shall remain in full force and effect.
8. Attorneys' Fees. If any action or proceeding is commenced relating to the subject matter
described herein, the prevailing party shall be entitled to recover all costs expended, including
reasonable attorneys' fees.
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EXHIBIT A
Lot 280 of Tract Map No. 2626 recorded in Book2Z , Pages through �2,inclusive,
of Maps in the Office of the County Recorder for San Luis Obispo County, State of California.
L:Land Development\Active Projects,DOVE CREEK`:Agreements,Commercial Agreetner,MemoDevCon.BEC.020706-CITY APPVD VERSION.DOC
9. Effective Date. The parties hereto have executed this Memorandum by affixing their
signatures below and this Memorandum shall be deemed effective as of the date on which each
of the parties executes the Memorandum as indicated by the dates below.
IN WITNESS WHEREOF, the parties have executed this Memorandum as of the date
first written above.
CENTEX HOMES, a Nevada general partnership
By: Centex Real Estateation
a Nev a co r tion,
its anaging eneral rtner
By:
Travis Fuentez
Division President
CIT�OF ATASCAD O, CA
Y�
Tom O'Malle
' 4 3
a
ATTER T:'
Iarcia�Mc ure Torgerson, C.M ., City Clerk
APPR�VF,ID ? ORM:
Patrick L right, City Attorney
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NOTARIAL ACKNOWLEDGMENT
STATE OF CAL ORN )
r )
COUNTY14
'S
On �� _, before me, An
/4/ Tu G le',L- , Notary
Public, personafly appeared personally known to me (-ep-
proved to to be the persons) whos�nan��e(?Ots are
subscribed to the within instrument and acknowledged to me that l�/th0 executed the same
in liher/their authorized capacityVs), and that byfiA.: er/their signature on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
NA FULLER
ROXAN
Commission #1400915
Notary Public
CaMomia TY No ar Public
SANTA BARBARA
COa16,2007
M Commission Expire
STATE OF CALIFORNIA )
COUNTY OF )
On , before me, , Notary
Public, personally appeared personally known to me (or
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 on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Notary Public
(Seal)
L:Land Development:Active Projects DOVE CREEK.Agreements,Commercial Agreemet%MemoDevCon.BEC.020706-CITY APPVD VERSION.DOC
END OF DOCUMENT