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Home My WebLink AboutReso 1967-4351Form No. 342 RESOLUTION NO. 4351 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA APPROVING AGREEMENT BETWEEN THE CITY OF CHULA VISTA AND LES CHATEAUX, in limited partnership, by NASH ASSOCIATES; by NORTON DEVELOPMENT COMPANY, FOR THE ACQUISITION OF OPEN SPACE LAND IN FLAIR SUBDIVISION AND AUTHORIZING THE MAYOR TO EXECUTE SAME The City Council of the City of Chula Vista does hereby resolve as follows: That that certain agreement between the City of Chula Vista, a municipal corporation, and LES CHATEAUX, in limited partnership, by NASH ASSOCIATES; by NORTON DEVELOPMENT COMPANY, for the acquisition of open space land in Flair Subdivision dated the 14th day of M3r~h , 19~., a copy of which is attached hereto and incorporated herein, the same as though fully set forth herein be, and the same is hereby approved. BE I'I' FURTHER RESOLVED that the Mayor of the City of Chula Vista be, and he is hereby authorized and directed to execute said agreement for and cn behalf of said City. Presented by Lane Cole, Director of Public Works Approved as to form by George D. indberg, City Attorne -1- AiSCi;'~'Ir~ ;AND As?aROiJF;D b_v ~h,~ CITY CDC'NCII. of the CJ~-TY C`r ~:H~J1~ VIST~~ CAiJi~~'GRN"1A, :.his _ 14th day of _~_ March~~s~~ 1967 , by the r:~lloTaing vote, to-wit; AYES, Gounciimer ~S arling, Sylvester, Anderson~McAllister, McCorquodale NAYSS ~ C~=.inci liner: None ABSENT ~ Coiznc i ime ~ None _ - - ~• 'Mayor cf the City of Chu'_a Vista hT. TES T c - ,-, .~ti ~~..~ City Cleric STATE GF CAT.~TFGRN ~~ CGuNTY OF SAN DItiGG 7 ss. CLTY (?F %HU:~1 G~~~ST1~ i I„ i~EN;Sf;TH .'. C,'~1F~3EL~, C1_ty Cleric of the City of Clziala V?_sta., ~~alifornia, DO Hr:FEBY L~RTIFY that the abo~~e ar.d foreg.?ing is a fti1? , true .rid co?-rec~t c•cpy of and that the same Y~ras not been amended or repealed. DATED °: City Cierk C,-652 4 3S~ AN AGREEMENT FOR THE ACQUISITION OF OPEN SPACE LAND IN FLAIR SUBDIVISION THIS AGREEMENT, made and entered into this 14th day of March, 1967, by and between the CITY OF CHULA VISTA, a municipal corporation, hereinafter called "City", and LES CHATEAUX, in limited partnership, by Nash Associates; by NORTON DEVELOPMENT COMPANY, hereinafter called "Subdivider"; W I T N E S S E T H WHEREAS, the City Planning Commission of the City of Chula Vista has heretofore granted a variance to Poutous & Saratoga Develop- ment Company on June 6, 1966, for the reduction of lot size from the 7,000 square foot minimum to 6,000 square foot minimum, for lots in that certain subdivision known as LES CHATEAUX SUBDIVISION, and the City Council of the City of Chula Vista approved said variance on July 12, 1966, and WHEREAS, LES CHATEAUX, in limited partnership, presented to the Planning Commission on March 6, 1967, a revised tentative map and a request for modification of the variance heretofore granted to Poutous & Saratoga Development Company for said lots in LES CHATEAUX SUBDIVISION, now known as FLAIR SUBDIVISION, and WHEREAS, the City Council has approved said revised tentative map on March 14, 1967, and the final map of that subdivision known as Flair Unit No. 1, and WHEREAS, as a condition of said variance, and of the tentative and final maps for FLAIR SUBDIVISION, Subdivider has agreed to dedicate or convey by grant deed to the City of Chula Vista approximately ten (10) acres of open space, as shown on that tentative map of FLAIR SUB- DIVISION approved by the City Council of the City of Chula Vista on March 14, 1967, and WHEREAS, Subdivider desires to convey all of said property upon full payment to the trust deed holders of said property, and WHEREAS, City is willing to delay the offer and acceptance of said property for a period of not more than five (5) years, provided that guarantees are made to insure that said property will be conveyed to the City. T' NOW, THEREFORE, IT IS MUTUALLY AGREED By and between the parties hereto as follows: 1. Subdivider agrees to dedicate or convey by grant deed all of said open space property as shown on that certain revised tentative map of that subdivision known as FLAIR SUBDIVISION, as approved by the City Council on March 14, 1967, which map is attached hereto and made a part hereof, marked Exhibit "A", on or before the happening of either of the following contingencies, whichever may occur first in time: A. Subdivider will convey to the City said properties as shown on said tentative map on or before the fifth anniversary date of this agreement. B. Subdivider will convey to the City said properties as shown on said tentative map on or before the filing and approval of the last final subdivision map or the last unit of FLAIR SUBDIVISION. 2. Subdivider further agrees to deposit with the City a security instrument in a form acceptable to the City Attorney, in the amount of $45,360.00, which represents the release price per acre to Subdivider of $4,200.00, for a total acreage of approximately 10.8 acres; -1- '~ ,i..~ the condition of said security arrangement being that in the event that Subdivider fails to convey said property as agreed herein on or before the happening of the contingencies set forth, the City may use said monies for the payment in full of the trust deeds on said property in order to obtain fee title thereto. 3. Subdivider further agrees to deliver to the City for its acceptance, concurrent with the approval and execution of this agreement, an easement for open space and park and recreational uses of said pro- perty, properly executed by Subdivider/Owner and trust deed holders, which easement will be duly recorded by the City. 4. In the event that suit is brought upon this contract by City to enforce the terms hereof, City shall be entitled to a reasonable sum as attorney's fees. IN WITNESS WHEREOF, City has caused this agreement to be executed by having affixed thereto the signature of the Mayor of said City, acting under and pursuant to Resolution No. 4351 of the City Council of the City of Chula Vista, and Subdivider has caused this agreement to be executed, as duly authorized, the day and year first hereinabove written. THE CITY OF CHULA VISTA ~~- ~~~~~z~~~~~~ Mayor SUBDIVIDER: LES CHATEAUX, in limited partnership; by NASH ASSOCIATES, by NORTON DEVELOPMENT CO. Security: Form: Amount: $45,360.00 Approved as to form by George D. Lindberg, City At rney -2- .. _ .,, INSTRUMENT OF CREDIT WHEREAS, in the near future LES CHATEAUX, a Limited Partner- ship hereinafter referred to as "Subdivider" will file with the City of Chula Vista a final map of a subdivision known as Flair Unit No. 1; and, WHEREAS, Subdivider of the land included in said subdivision has given to the City an Agreement for the Acquisition of Open Space Land in Flair Subdivision, said Agreement having been made and entered into March 14, 1967, a copy of which is attached hereto as Exhibit 11A" and made a part hereof; WHEREAS, U. S. FINANCIAL, a California corporation, herein- after referred to as "Financial Institution", is a financial institution subject to regulation by the state or federal govern- ment and Financial Institution by this instrument of credit pledges that the funds necessary to meet the performance required under the Agreement for the Acquisition of Open Space Land in Flair Subdivision are on deposit in trust funds and said funds are guaranteed for payment; and, WHEREAS, said agreement requires Subdivider to deliver to City an approved security instrument insuring the faithful per- - formance of the terms of said agreement; NOW, THEREFORE, it is agreed by and between Subdivider and Financial Institution, in order to carry out said agreement and to give assurance to The City of Chula Vista that the terms of said agreement will be carried out; that Financial Institution has on deposit the sum of $45,360.00 for the purpose of securing the faithful performance of the terms of said agreement. Financial Institution agrees to use these funds only for purposes hereinabove specified. In the event the Subdivider fails to convey the land as provided for in said agreement, the City of Chula Vista may use said monies for the purpose of securing a release of the deed of trust on said property. -1- +7 ~~zc-'/ State of CALI FORNIA County of SAN DIEGO S5. W on ..............March 1 ~} ~ ~6~ before me, the under c signed, a Notary Public in and for said County and State, personalty ap~ ~~ Z w Peared .......:....................................................................... known to me to W_ Harve Fur atch ~ o be the ................ President, and..........................y..............g......................, ¢u "_ E known to me to be the .............................................. Secretary of the _" o corporation that executed the within instrument and known to me to be a " the persons who executed the within instrument on behalf of said corpora- l o Lion, said corporation being known to me to be a oeneral partner of o a ...............................NAS.H...AS,SOCI.ATES.-.. a o ................................... ~ a partnership, the partnership that ezecuted the within instrument, and v m ~ acknowledged to me that such corporation ezecuted the same as such W o partner and that such partnership ezecuted the same. f 3 w ,~ WITNESS m hand a ff!- 'al al. Yi;:'L~N ~N i o 12v ~,:~issicn E x v ~. v i..r v a ... <• a ISedll ~ ~ r. 0 ~' ?~( ;TAY Pt1311C CA!.I~OfrNI;, O N O '~ PK2~dC!?AL OFftC= IN a --- ~~ ' i~...llati / Financial Institution is authorized and directed to issue this instrument of credit to The City of Chula Vista to the effect that the undersigned Financial Institution holds the sum of $45,360.00 in irrevocable trust funds for the aforesaid purposes. Dated this~_day of /` / A Q C ~~ 1967. LES CHATEAUX, a Limited Partnership BY: NASH ASSOCIATES, a Partnership, General Partner by: NORTON DEVELOPMENT CO., a corporation, Partner BY : r.+e JV'' "Subdivider" U. S. FINANCIAL, a California corporatio~n - 1 "Financial Institution Accepted: THE CITY OF CHULA VISTA .~ ,- - _ -- ~ City Ma alter APPROVED: City Attorney Deputy -2- l~ u~~ l