HomeMy WebLinkAbout2004-030 Colony Investments/Midland Pacific s L
ITY OF NAW RoJULIE RODEWALD CATNC
ONTRACT# San Luis Obispo County—Clerk/Recorder 2/25/2005
NO FEE DOCUMENT Recorded at the request of 2:52 PM
Public
Government Code X6103 D 0 C#: 2005015008 Titles: 1 Pages: 6
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
Fees 0.00
Taxes 0.00
Others 0.00
CITY OF ATASCADERO PAID $0.00
6905 EI Camino Real, Suite 6
Atascadero, CA 93422
Attn: City Clerk The Above Space For Recorder's Use Only
CITY OF ATASCADERO
SUBDIVISION IMPROVEMENT AGREEMENT
DATE OF AGREEMENT: I —� ^� 7
NAME OF SUBDIVIDER: Colony Investments, LLC by Midland Pacific Management
Corporation
SUBDIVISION: Tract 2495
ESTIMATED TOTAL COST OF IMPROVEMENTS: $3,053,629.00
This Agreement made and entered into by and between the City of Atascadero, a municipal
corporation of the State of California (hereinafter referred to as "City") and Colony Investments
(hereinafter referred to as "Subdivider").
RECITALS
A. Subdivider has presented to the City Council of the City of Atascadero Tract Map 2495
for approval but not all of the improvements required or conditions imposed by Title 11,
Chapter 8 Articles 3 and 4 and Chapter 10 of the Atascadero Municipal Code have been
completed or performed.
B. Subdivider desires to record Tract Map 2495 after the same has been approved by the
City Council of the City of Atascadero.
C. The Subdivision Laws establish as a condition precedent to the approval of a parcel map
that Subdivider must have either completed, in compliance with City Standards, all of the
improvements and land development work required by Tract Map 2495 or have entered
into a secured agreement with City to complete the improvements and land development
within a period of time specified by City.
D. In consideration of approval of Tract Map 2495 by the City Council, Subdivider desires to
enter into this Agreement, whereby Subdivider promises to install and complete, at the
Subdivider's own expense, all of the public improvement work required by City in
connection with Subdivision.
Tract 2495 Agreement Page 1 of 5
E. Improvement Plans for the construction, installation and completion of the improvements
have been prepared by Subdivider and approved by the City Engineer. The
Improvement Plans for Tract Map 2495 are on file in the Office of the City Engineer and
are incorporated into this Agreement by this reference. All references in this Agreement
to the Improvement Plans shall include reference to any specifications for the
improvements as approved by the City Engineer.
F. An estimate of the cost for construction of the public improvements according to the
Improvement Plans has been made and has been approved by the City Engineer. The
Estimated Total Cost of Improvements, including inflation, contingencies and
administrative costs, is stated on Page 1 of this Agreement. The basis for the estimate
is on file with the City of Atascadero.
G. Subdivider recognizes that by approval of Tract Map 2495, City has conferred
substantial rights upon Subdivider, including the right to sell, lease, or finance lots within
the subdivision, and has taken the final act necessary to construct the public
improvements within the subdivision. As a result, City will be damaged to the extent of
the cost of installation of the improvements by Subdivider's failure to perform its
obligations under this Agreement, including, but not limited to, Subdivider's obligation to
commence construction of the improvements by the time established in this Agreement.
City shall be entitled to all remedies available to it pursuant to this Agreement and law in
event of a default by Subdivider. It is specifically recognized that the determination of
whether a reversion to acreage or rescission of Tract Map 2495 constitutes an adequate
remedy for default by the Subdivider shall be within the sole discretion of City.
NOW, THEREFORE, pursuant to the provisions contained in the Atascadero Municipal Code,
Title 11, Chapter 10, sections 11-10.010 through 11-10.022, and in consideration of the
approval by the City Council and the filing of Tract Map 2495, the parties hereto do promise and
agree one with the other as follows:
1. Subdivider is to make and complete ail of the improvements for Tract Map 2495 as
shown on the Improvement Plans thereof and as required and set forth in Title 11,
Chapter 8, Articles 3 and 4, and Chapter 10, of the Atascadero Municipal Code, or as
amended.
2. It is further understood and agreed by and between the parties hereto that the
improvements as required by the conditions of approval for Tract Map 2495 shall be
completed within one year from the Date of Agreement. These improvements include,
but are not limited to the following: those shown on the plans (BLD 2003-3226) accepted
by the City Engineer and the Engineer's Estimate on file with the City of Atascadero.
3. The Subdivider promises and agrees to complete all improvement work referred to
hereinabove to the satisfaction of the City Engineer.
4. If said improvement work is not completed within one year of the Date of Agreement, the
Subdivider agrees that the City may elect to complete the same.
5. In the event the City elects to complete said work or improvement, the Subdivider agrees
that the City may exercise it's option to declare the bond or deposit, as hereinafter
Tract 2495 Agreement Page 2 of 5
described, forfeited and utilize the proceeds, including any interest, to complete said
improvements or that the City may complete said improvements and recover full cost
and expense thereof including reasonable attorney fees from the Subdivider and his/her
surety.
6. The Subdivider shall, prior to submitting the map for filing, file an improvement security
with the City, in a form acceptable to the City Attorney, in the amount of the Estimated
Total Cost of Improvements, which is the amount deemed sufficient by the City
Engineer. In no case shall the improvement security be less than 100% of the Estimated
Total Cost of Improvements. Further, the Subdivider shall file a security for labor and
materials in the amount of the Estimated Total Cost of Improvements. The security for
labor and materials shall be no less than 50% of the Estimated Total Cost of
Improvements. Periodic progress payments may be authorized to the Subdivider as the
improvements are completed if adequate security remains as determined by the City
Engineer, however, no such progress payments shall be made for more than 90% of the
value of any work. Progress payments shall only be paid on work that is completed to
the satisfaction of the City Engineer.
7. The Subdivider hereby agrees that after the completion and acceptance of the
improvements as specified in paragraphs 2 and 3, 10% of the improvement security
shall be retained for the guarantee and warranty of the work for a period of one year.
8. It is understood and agreed by and between the parties hereto that this Agreement shall
bind the heirs, executors, administrators, successors, and assigns of the respective
parties to this agreement.
9. In the event legal action is taken to enforce the provisions of this Agreement, the
prevailing party shall be entitled to recover costs to enforce the Agreement, including
reasonable attorney fees.
10. The Subdivider shall, defend, indemnify and save harmless the City, its officers, agents
and employees from any and all claims, demands, damages, costs, expenses, or liability
occasioned by the performance and attempted performance of the provisions hereof, or
in any way arising out of this Agreement, including, but not limited to, inverse
condemnation, equitable relief, or any wrongful act or any negligent act or omission to
act on the part of the Property Owner or of agents, employees, or independent
contractors directly responsible to the Property Owner, providing further that the
foregoing shall apply to any wrongful acts, or any actively or passively negligent acts or
omissions to act, committed jointly or concurrently by the Applicant, the Property
Owner's agents, employees, or independent contractors. Nothing contained in the
foregoing indemnity provisions shall be construed to require the Property Owner to
indemnify the City against any responsibility or liability in contravention of Section 2782
of the Civil Code.
11. Upon acceptance of the work on behalf of City and recordation of the Notice of
Completion, ownership of the improvements constructed pursuant to this Agreement
shall vest in City.
12. Sale or other disposition of this property will not relieve Subdivider form the obligations
set forth herein. Subdivider agrees to notify City in writing at least 30 days in advance of
Tract 2495 Agreement Page 3 of 5
any actual or pending sale or other disposition of the property. If Subdivider sells the
property or any portion of the property within the Subdivision to any other person,
Subdivider may request a novation of this Agreement and a substitution of security.
Upon approval of the novation and substitution of securities, Subdivider may request a
release or reduction of the securities required by this Agreement. Nothing in the
novation shall relieve the Subdivider of the obligations under Paragraph 2 for the work or
improvement done by Subdivider.
13. All notices required or provided for under this Agreement shall be in writing and
delivered in person or sent by mail, postage prepaid and addressed as provided in this
section. Notice shall be effective on the date it is delivered in person, or, if mailed, on
the date of deposit in the United States Mail. Notices shall be addressed as follows
unless a written change of address is filed with City:
City: City of Atascadero
6905 EI Camino Real, Suite 6
Atascadero, CA 93422
Subdivider: Colony Investment, LLC
6955 EI Camino Real, Suite 200
Atascadero, CA 93422
Surety: Insurance Company of the West
191 W. Shaw Ave.
Fresno, CA 93704
14. The provisions of this Agreement are severable. If any portion of this Agreement is held
invalid by a court of competent jurisdiction, the remainder of the Agreement shall remain
in full force and effect unless amended or modified by the mutual consent of the parties.
15. The Recitals to this Agreement are hereby incorporated into the terms of this
Agreement.
16. This Agreement constitutes the entire Agreement of the parties with respect to the
subject matter. All modifications, amendments, or waivers of the terms of this
Agreement must be in writing and signed by the appropriate representatives of the
parties. In the case of City, the appropriate party shall be the City Manager.
Tract 2495 Agreement Page 4 of 5
IN WITNESS WHEREOF the Property Owner has hereunto set his/her hand and the City has
caused these presents to be signed by its duly sworn and authorized officers the day and year
first hereinabove written. r
CITY OF ATASCADERO SUBDIVIDER: b�o�� `t�5 � ' � -C
b� �M',dlav►cl,(�ac'� MU.��ew�C,wT C�r�Y� r�-s
By. �^v�ce w►cc�c� '
(notari Lure)
ade G. McKinney I a\ momsco pre5,((c?vti t`
City Manager S
Attest:
Marcia M. Torgerson
City Clerk
App o d as to c tent:
t en B. Ka n, P.
City Engineer
1 �
*rriiL.
s� .
/ t, pity Attorney
Tract 2495 Agreement Page 5 of 5
State of California )
County of San Luis Obispo )
On February 15, 2005 before me, Susan H. Jones,Notary Public, personally appeared
Dennis Moresco personally known to me to be the person whose name is subscribed to
the within instrument and acknowledged to me that he executed the same in his
authorized capacity, and that by his signature on the instrument the person or the entity
upon behalf of which the person acted, executed the instrument.
WITNESS my hand and official seal.
SLOM M JONES
commWobn s 13 94
NoWy Pubk-CoWorr"
5v� 4 Au��Ze San Luis Obispo c
My comm.Expires Feb2=2006
END of DOCUM IT