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HomeMy WebLinkAbout2008/04/15 Item 7 ITEM TITLE: SUBMITTED BY: REVIEWED BY: SUMMARY CITY COUNCIL AGENDA STATEMENT ~~ CITY OF ~...". CHULA VISTA Item No.: -::r Meeting Date: 4/15/08 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE MAYOR TO ENTER INTO A LAND OFFER AGREEMENT BETWEEN THE CITY OF CHULA VISTA AND OTAY LAND COMPANY FOR CONVEYANCE OF 210 ACRES TO THE CITY FOR UNIVERSITYIREGIONAL TECHNOLOGY PARK DEVELOPMENT AND MITIGATION PURPOSES, ACKNOWLEDGING THE OFFERS OF DEDICATION AND ACCEPTANCE OF 1 MILLION DOLLARS FOR UNIVERSITY RECRUITMENT AND PLANNING PURPOSES. DIRECTOR OF PL ND BUILDING~ CITY MANAGER ASSISTANT CIT MANAGER sr 4/5THS VOTE: YES D NO 0 One of the key goals of the Chula Vista General Plan is the development of a University/Regional Technology Park. Successful implementation of the Land Offer Agreement would further this goal through the receipt by the City of 210 acres of developable/mitigation land as well as 2-million dollars for University Recruitment/Planning. ENVIRONMENTAL STATUS The Environmental Review Coordinator has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that there is no possibility that the activity may have a significant effect on the environment; therefore, pursuant to Section 7-1 Page 2 of 4, Item No.: ;::;, Meeting Date: 4/15/08 15061 (b )(3) of the State CEQA Guidelines the activity is not subject to CEQA. Future entitlements associated with the land offer agreement will be subject to further environmental review at the time specific projects are proposed. RECOMMENDATION That the City Council approve the resolution authorizing the Mayor to enter into the proposed land offer agreement between the City and Otay Land Company, LLC. BOARDS/COMMISSION RECOMMENDATION Not applicable. DISCUSSION Background: Since adoption of the 1993 Otay Ranch General Development Plan, the City of Chula Vista has maintained the vision of an institution (s) of higher education within our corporate limits. Progress was previously made through the acquisition of over 550 acres of land, for university development and as an open space buffer as part of the Otay Ranch Preserve. Recognizing the need for viable employment lands, the December 2005 General Plan Update called for a Regional Technology Park use in conjunction with a university(s). In January 2006 the former City manager requested the two key land owners (one was a land owner, the other had an option on their land) work together on a land plan to then be reviewed by City staff. The goal was a land plan that would work for both property owners and meet the goals and policies of the General Plan and General Development Plan. Other the course of a year, the two parties were not able to reach closure. In December 2007 the Planning and Building Director sent both land owners a letter requesting "an agreed-upon proposal" by January 12, 2007 or the City will initiate our own Land Planning process, which will respect the property rights of the land owners, but be solely based on the best interest of the community at large. Since Spring of 2007 the Planning and Building staff and the City Attorney have been working with the Otay Land Company in order to create a land plan that would facilitate the future development of a university(ies) and a Regional Technology Park while also providing equitable benefit to the land owners. These negotiations have been extremely complex since the only acceptable outcome would be a win/win for all parties. For the City this means; I) a land plan that on its own merits is beneficial to the City and carries out the goals of the General Plan and Otay Ranch General Development Plan, and 2) dedication of land necessary for the university/regional technology park complex and other benefits. In the case of the landowner, there needs to be significantly greater benefit than the development intensity they already enjoy through their existing development agreement. The draft 7-2 Page 3 of 4, Item No.: -:f Meeting Date: 4/15/08 development agreement provides the Otay Land Company, LLC the opportunity to achieve a maximum of 6,050 residential units and 1.8 million square feet of commercial development. Maior Terms of Agreement Under the terms of the proposed land offer agreement, upon approval of entitlements, the property owner would convey 50 acres, which has been designated as a portion of the proposed "UniversitylRegional Technology Park" to the City of Chula Vista for future conveyance to qualified higher education institution(s). The property owner would also convey an additional 160 acres of habitat land which will be used to mitigate the future Regional Technology Park and 2 million dollars (one million dollars up front), towards the recruitment of a university(ies) and the initiation of the University Land Planning efforts. The agreement required The Otay Land Company to provide the City of Chula Vista with Irrevocable Offers of Dedication (lOD's) for the 50 acres of University/Tech Park Land and the 160 acres of mitigation land within 5 days of execution of the land offer agreement. The City would take title to the property upon approval of the requested entitlements within the required timeframes. The Agreement sets forth the terms under which the City may accept this offer. Specifically, in order to accept the offer of dedication, the City would be required to provide the following considerations: Approval of all stated entitlements for proposed development of Villages 4, 8, and 9 and a portion of the Eastern Urban Center. It should be noted that the City and property owners are proposing to reconfigure portions of the City General Plan/Otay Ranch General Development Plan. Under the Land Offer Agreement, the entitlements include a General Plan Amendment, Otay Ranch GDP amendment, a SPA Plan, and tentative map. The maximum residential unit count is 6,050 with a maximum allowed commercial square footage of 1.8 million for property under Otay Land Company ownership. The City would also receive one million dollars for University Recruitment/Planning purposes upon execution of the Land Offer Agreement. A second one million dollars for the same purpose would be received after approval of the requested entitlements. The draft Land Offer Agreement provides the Otay Land Company with the option of repurchasing the dedicated University/Tech Park property if the City (or subsequent entity) should choose to use the property for non-university/tech park or related purposes. The repurchase agreement provision expires upon the earlier of either occupancy of 90% of the residential units within the project as evidenced by [mal inspection notices or upon expiration of the amended Pre-arrnexation Development Agreement. The Draft Agreement also provides for the transfer of up to 15% of the residential units between Villages within Otay Ranch. Any transfer greater than 15% requires approval by the Planning and Building Director based upon specific requirements. Both City staff and the Otay Land 7-3 Page 4 of 4, Item No.: -=; Meeting Date: 4/15/08 Company believe these provisions will provide the necessary flexibility to create better Village plans. The agreement includes a 30-day preliminary review of the conditions of approval for the SPA Plan, as well as the draft Public Facilities Financing Plan, following close of the public review period for the draft EIR. During this time, the applicant may review proposed conditions and requirements for the project, and may decide to stop processing the entitlements if the owners determine that the proposed conditions would render the project economically infeasible. Analvsis This offer agreement provides the City with an opportunity to obtain another significant portion of the proposed University/Regional Technology Park Site, through providing certain considerations in conjunction with future entitlements for the Otay Ranch Villages 4, 7, 8, 9 and a portion of the Eastern Urban Center. Acquisitions of the University Site and necessary mitigation acreage would be a major step forward in achieving the City's key General Plan goals. Attached is a preliminary Site Utilization Plan, which depicts locations of land uses, approximate densities and the location of major arterials. Although we are aware that there are always refmements to any land plan as we work with the applicant through the entitlement process, we have conducted a preliminary analysis and we believe the proposed land plan can be consistent with and accomplished within the overall policy framework established by the City's General Plan. This plan would also preserve the character already established within the Otay Ranch Master Planned Community. Further, the additional residential units as authorized by the entitlements subsequent to this agreement will be needed in order to provide adequate housing to support the university. It should be emphasized that both the City Council and Planning Commission will have full discretionary authority to consider the proposed plan changes at the time they are presented in a public hearing, with benefit of a final ErR and staff analysis. On this basis, staff is recommending that the City Council approve the attached agreement, and direct staff to move forward to complete a project staffing plan and processing schedule which will provide for completion of processing of entitlements in accordance with the overall schedule set forth in this agreement. FISCAL IMP ACT The applicant would pay for all costs associated with processing the terms of this agreement. Prepared by: James D. Sandoval, Director of Planning and Building Attachment: Draft Land Offer Agreement (including exhibits) J:\planning)jimICOUNCIL AGENDA STATEMENT Univ Land Offer 3-11.08.doc 7-4 THE ATTACHED AGREEMENT HAS BEEN REVIEWED AND APPROVED AS TO FORM BY THE CITY ATTORNEY'S OFFICE AND WILL BE FORMALLY SIGNED UPON APPROVAL BY THE CITY COUNCIL O--~ Ann Moore City Attorney Dated: y /3/0 r LAND OFFER AGREEMENT BETWEEN THE OT A Y LAND COMPANY, LLC AND THE CITY OF CHULA VISTA 7-5 RECORDmG REQUEST BY: City Clerk WHEN RECORDED MAlL TO: CITY OF CHULA VISTA 276 Fourth Avenue Chula Vista, CA 91910 Above Space for Recorder's Use LAND OFFER AGREEMENT This Land Offer Agreement ("Agreement") is entered into to be effective as of;?",..., 1 1 L,'tf 2008, by and between Otay Land Company LLC, aDelaware limited liability company ("Owner") and the City of Chula Vista, a political subdivision of the State of California ("City"). RECITALS A. Owner owns the undeveloped real property located in the City as more particularly described and shown on the attached Exhibit "A" (the "Property") B. The Property is part of a master planned co=unity co=only lmown as portions of Villages 4, 7, 8, 9 and the Eastern Urban Center of the Otay Ranch Project. C. City has requested Owner to convey to City fifty (50) acres within the Property designated for the development of a facility for higher education and other compatible land uses as described herein ("University Property") and one hundred sixty (160) acres of open space ("Open Space Property"). The University Property is shown and described on Exhibit "B" and the Open Space Property is shown and described on Exhibit "B-1". D. Owner desires certain development entitlements for the Property that require processing and discretionary review by the City. E. . Owner and City by entering into this Agreement shall set forth the terms and conditions precedent for Owner's conveyance and City's acceptance of the University Property and the Open Space Property, as well as the process for the City's consideration of certain development entitlements for the Property. NOW, TIIEREFORE, in consideration of the above recitals and of the mutual covenants hereinafter contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby aclmowledged, Owner and City agree as follows: wmd Offer Agreement Between Otay lnnd Company LLC and CIty ofChuln Vista 1 7-6 ARTICLE 1 DEFINITIONS 1.1 Definitions. This Agreement uses a number of terms having specific meanings, as defined below. These specially defined terms are distinguished by having the initial letter capitalized, when nsed in this Agreement. The defined terms inclnde the following: "Development Agreement" means the Restated and Amended Pre-Annexation Development Agreement between the City and Otay Ranch, L.P. recorded May 12, 1997. "Effective Date" means the date set forth in the first paragraph of this Agreement. "Entitlements" means: (i) amendments to the City's General Plan and the Olay Ranch General Development Plan which establish 6050 as the ma.-'{imum number of residential units and 1.8 million square feet of commercial uses to be permitted for development, and amendments to the Development Agreement to include only the provisions specifically set forth on Exhibit "C"; (ii) Sectional Planning Area Plans ("SPA Plans'') for the Property designating the permitted land uses, densities and intensities of development, which are in substantial compliance with the Land Use Plan depicted on Exhibit "D"; (iii) tentative subdivision maps to subdivide the Property in accordance with the SPA Plans and related entitlement documents, such as Public Facilities Financing Plans, necessary to implement the SPA Plans, as may be identified in the Processing Agreement; and (iv)appropriate California Enviromnental Quality Act compliance for the discretionary actions outlined in items (i) and (iii), above. "Growth Program" means the City policies and standards intended to regulate the timing and phasing or rate of growth within the City, as set fOlih in the City's Growth Management Element of the City's General Plan in effect as of the Effective Date of this Agreement. "Hazardous Materials" means any substance, material or waste which is or becomes (1) regulated by any local or regional governmental authority, the State of California or the United States Government as hazardous waste, (ii) defined as a "solid waste", "sludge", "hazardous waste", "extremely hazardous waste", "resmcted hazardous waste", "Non-RCRA hazardous waste," "ReRA hazardous waste", or "recyclable material", under any federal, state or local statue, regulation or ordinance, including without limitation Sections 25115, 25117, 25117.9, 25120.2, 25120.5, 251227, 25140,25141 of the Calitomia Health and Safety Code; (iii) deffied as "Hazardous Substance" under Section 25316 of the Ca1itornia Health and Safety Code; (iv) defined as a "Hazardous Material", "Hazardous Substance", or "Hazardous Waste" under Section 2550] of the California Health and Safety Code; (v) defined as a "Hazardous Substance" under Section 25281 of the California Health and Safety Code; (vi) asbestos; (vii) petroleum products, including without limitation, petroleum, gasoline, used oil, crude oil, waste oil and any fraction thereof, natural gas, natural gas liquefied, natural gas or synthetic fuels, (viii) materials defined as hazardous or extremely hazardous pursuant to the California Code of Regulations; (ix) polychloriuated biphenyls; Land OtTer ,AgreL'lTlent BctwL"en Otay Land Company LLC and City ofChula Vista 2 7-7 (x) defined as a "Hazardous Substance" pursuant to Section 311 of the Federal Water Pollution Control Act (33 U.S.c. Section 1251, et seq.); (xi) defined as a "Hazardous Waste" pursuant to Section 1004 of the Federal Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., (xii) defined as a "Hazardous Substance" or "Mixed WaIJte" pursuant to Section I 0 I of the Comprehensive Environmental Response Compensation and Liability Act, 42 U.S.C. Section 9601, et seq. and regulations promulgated hereunder; (xiii) defined as a "Hazardous Substance" pursuant to Section 401.15 of the Clean Water Act, 40 C.F.R. 116; OR (xiv) defined as an "Extremely Hazardous Substance" pursuant to Section 302 ofthe Superfund Amendments and Reauthorizations Act of 1986, 42 U.S.c. Section 11002, et seq. "Irrevocable Offer of Dedicationl Offer of Dedication" means the document, substantially in the form attached as Exhibit "E," allowing for the trmlsfer of ownership of the University Propelty and Open Space Property to the City in accordance with Government Code Section 7050. "Open Space Property" means the real property described and shown on Exhibit "B-1" to 111is Agreement. "Processing Agreement" means the Project Staffing and Processing Agreement, to be entered into by the City and Owner, in which the timing and processing of the Entitlements win be set forth therein. "Project" meIDlS the development of the Property consistent witil the provisions of the Entitlements, applicable City policies and standards including the City Growth Program and Ordinance. "Property" means the real property described and shown in Exhibit "A" to this Agreement. "Telm" shall mean the period oftime from the Effective Date until the termination ofthis Agreement as set forth in Paragraph 4.3. "Third Party Litigation" means any claim, action, referendum or proceeding filed and served against the City and/or Owner by anyone not a party to this Agreement or their agents or successors in interest to challenge, set aside, void or annul the approval of this Agreement or the Entitlements, including without linlitation, attacks upon California Enviromnental Quality Act compliance. "University Property" means the real property described and shown on Exhibit "B" to this Agreement. Land Offer Agreement Between Otay Land Company LLC and City of Chula Vista 3 7-8 ARTICLE 2 OFF.ER OF DEDICATION 2.1 Offer of Dedication. Concurrently with the execution of this Agreement, Owner shall submit to the City an Irrevocable Offer(s) of Dedication, for the following properties: (i) the University Property to allow for the use of the University Property for higher educational purposes and related compatible uses, active public recreation, quasi public, and all other uses, including residential, industrial and commercial; and (ii) the Open Space Property to allow for the use of said property for open space, mitigation, active recreation and any uses pem1itted in accordance with the Otay Ranch General Development Plan. The uses set forth for the University Property and the Open Space Property shall be referred to collectively as the ("Permitted Uses"). Notwithstanding the foregoing, in the event the City determines that the University Property or a portion thereof, win be developed for any Permitted Uses other than (i) higher educational uses, including a university Can1PUS; (ii) university-related housing (student andlor faculty housing); (iii) a regional technology park or campus intended to attract and promote a university; or (iv) uses anciJlary to a university, such as a bookstore, coffee house or copy center, or other accessory land uses commonly associated with higher educational institutions (uses other than those described in subsections (i) through (iv) collectively shall be referred to as "Non-university Development"), Owner shall have the right to repurchase that portion of the University Property proposed for Non-university Development in accordancc with the terms and conditions set forth herein ("Repurchase Right"). The Repurchase Right shall take effect upon the City's acceptance of the Irrevocable Offer of Dedication for the University Property and expire upon the earlier to occur of: (i) the expiration of the Development Agreement; or (ii) the occupancy of ninety percent (90%) of the residential units within the Project, as evidenced by final inspection notices ("Repurchase Right Expiration"); unless tenninated earlier as to all or a pOltion ofthe University Property in accordance with Paragraph 2.3. The Repurchase Right shall be included in the Irrevocable Offer(s) of Dedication recorded concurrently with the recordation of this Agreement and shall be a covenant nmning with the University Property. City'S acceptance ofthe Irrevocable Offer(s) of Dedication shal1 be subject to the terms ofthis Agreement. 2.2 Offer to Purchase. In the event the Repurchase Right is triggered in accordance with Paragraph 2.1, the City shall promptly offer to sell that portion proposed for Non-university Development to Owner ("Offer to Purchase"). The Offer to Purchase shall include the following: (i) Purchase Price (fair market value, subject to Paragraph 2.2(iv) below), to be paid in cash. (ii) Closing Date, not sooner than 60 days from the date the Purchase Agreement is executed. (iii) The Purchase Agreement shall be substantially in the form attached hereto as Exhibit F. Land Offer Agreement Between Otay Land Company lLC and City of Chum Vistu 4 7-9 (iv) If the parties do not agree on the fair market value of that portion of the University Property proposed for Non-university Development, then the fair market value of said property shall be determined by an appraiser acceptable to both parties. If the parties are unable to agree on an appraiser witllin ten (10) days after the City delivers the Offer to Purchase to Owner ("Delivery Date''), within twenty (20) days after the Delivery Date, each party shall each name an appraiser who is a member of MAr or an equivalent organization and has at least five (5) years experience appraising similar property in the Chula Vista area. If either party fails to appoint such an appraiser within such period, and such failure continues for more than five (5) days following written notice from the other party, the appraiser appointed by the party giving such notice shall proceed to make the appraisal as herein set forth, and the determination thereof shall be conclusive on both parties. TIle two (2) selected appraisers will each prepare an appraisal report within thirty (30) days after their appointment. lfthe two (2) appraisers' determination of the fair market value of said property is within ten percent ( I 0%) of each other, then the fair market value of the same will be the a1itlrmetic average of the two (2) appraisals. Otherwise, the two (2) selected appraisers will appoint a third appraiser within ten (10) days after issuance oftheir appraisal reports, ("Deciding Appraiser") meeting the same qualifications and who has no preexisting material financial or business relationship witlr eitlrer of tlre appraisers, City or Owner. Iftlre two (2) selected appraisers fail to appoint a Deciding Appraiser within such period, tlren either party may petition a COUl1 of competent jurisdiction to appoint a Deciding Appraiser meeting the qualifications set forth herein, in tlre same manner as provided for the appointment of an arbitrator pursuant to California Code of Civil Procedure section 1281.6. The Deciding Appraiser may not receive or consider tlre appraisals prepared by tlre other two (2) appraisers. The Deciding Appraiser will deliver its report to tlre parties within thirty (30) days after its appointment and tlre fair market value of said property will be eitlrer: (i) ifthe fair market value determined by the Deciding Appraiser is between the values determined by the first two (2) appraisers, the a1itll1netic average of tlle two (2) appraisals iliat are closest to each other; or, (ii) ifthe fair market value determined by the Deciding Appraiser is higher or lower than both of tlre values determined by ilie frrst two (2) appraisers, tlle fair market value determined by the appraisal oftlre first two (2) appraisers iliat is closest to the value determined by the Deciding Appraiser. The parties shall share equally ilie fees and expenses of the appraisers jointly named, if any, but each party shall be responsible for the fees and expenses of any appraiser nallled solely by that party. Each party shall bear its owu expenses in presenting evidence to the appraisers. The determination of fair market value by the appraiser( s) shall be final and binding 011 tile parties. Land Offer Agreement Between Otay Land Company LLC and City of Chula Vista 5 7-10 NOTICE: BY INITIALING IN THE SPACE BELOW, YOU ARE AGREEING TO HAVE THE DETERMINATION OF THEFAlRMARKET VALUE OF THAT PORTION OF THE UNIVERSITY PROPERTY PROPOSED FOR NON-UNlVERSITY DEVELOPMENT AS PROVIDED IN THIS PARAGRAPH 2.2 (iv) DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LA WAND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS REGARDING THE FAlRMARKET VALUE TO HAVE LmGATED IN A COURT OR JURY TRIAL. SUCH ARBITRATION WILL NOT APPLY TO ANY OTHER DISPUTES OR MATTERS UNDER TIllS AGREEMENT. BY INITIALIZING IN THE SPACE BELOW, YOU ARE GIVING UP YOUR JUDICIAL RIGIDS TO DISCOVERY AND APPEAL, UNLESS THESE RIGHTS ARE SPEClFlCALL Y INCLUDED IN THIS PARAGRAPH 2.2 (iv). IF YOU REFUSE TO SUBMIT TO ARBITRATION AS SET FORTH HEREIN AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMl'ELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY. YOU HAVE READ AND UNDERSTOOD THE FOREGOING AND AGREE TO SUB:MIT DISPUTES ARISING OUT OF THIS PARAGRAPH 2.2(iv) TO NEUTRAL ARBITRATION. OWNER'S INITIALS:.f!:IJj CITY'S INITIALS: 2.3 Reourchase Right. City and Owner agree to negotiate in good faith the Purchase Price contained in the Offer to Purchase, provided however, if City and Owner can not agree on the Purchase Price within twenty (20) days after the City delivers the Offer to Purchase to Owner, the Purchase Price shall be determined in accordance with Paragraph 2.2(iv). Owner shall have ten (10) days from the date Owner is notified of the final determination offair market value pursuant to Paragraph 2.2(iv) within which to notifY the City whether it intends to exercise its Repurchase Right. !fOwner declines to exercise the Repurchase Right or fails to timely notifY City of its determination, the Repurchase Right shall be terminated as to that portion of the University Property proposed for Non-university Development. In such event, the City shall have a right to proceed with the proposed development or sale at the same or higher price than that set forth in the Offer to Purchase, and equivalent terms. Thereafter, if the City decides to change the price of said property to be less than that set forth in the Offer to Purchase or to change other material terms of the same, City shall provide Owner with a new offer to purchase before offering the University Property to any other prospective purchasers ("Renewed Right to Purchase"). The Renewed Right to Purchase shall be governed by the terms of this Agreement. The Renewed Right to Purchase shall expire concurrently with the Repurchase Right Expiration. The Repurchase Right aod Renewed Land OtTer Agreement Between Ota)' Lolnd Cornpnny LLC and City of Chula Vista 6 7-11 Right to Purchase shall terminate prior to the Repurchase Right Expiration as to any portion of the University Property for which Owner declines to exercise such rights. Owner agrees to deliver to City within ten (10) business days of City's written request, a quitclaim deed releasing the University Property, or a portion thereof, from the provisions of the Repurchase Right and Renewed Right to Purchase upon the expiration or earlier termination of said rights as to all or a portion ofthe University Property. 2.3.1 Effect of Convevance on R~I)Urchase Right. At no time shall more than one legal entity possess the Repurchase Right. The Repurchase Right shall terminate as to any portion of the Property conveyed by Owner to a third party which conveyance comprises less than the total Property owned by Owner immediately prior to the conveyance. For example, if Owner conveys to a developer thirty percent (30%) of the Property, the Repurchase Right shall terminate as to the thirty percent (30%) conveyed. Under this example, the Repurchase Right would not tenninate as to the remaining seventy percent (70%) ofland retained by Owner. Ifthe Owner conveys the entirety of the Property at anyone time (a "bulk-sale"), the Repurchase Right shall not terminate and shall continue to run with the land conveyed in the bulk-sale. Using the example above, if Owner subsequently conveyed the remaining seventy percent (70%) of tlle Property in a bulk-sale to a developer, the Repurchase Right would not tenninate as a consequence of such conveyance. 2.3.2 No Vested Development Ri~ts. Owner acknowledges and agrees that neither this Agreement nor the Development Agreement confer vested development rights upon any portion ofthe University Property acquired by Owner pursuant to the Repurchase Right and Owner shall be subject to applicable City land use regulations with regard to any future applications to develop said property. 2.4. Execution of Offer. Ifthe Owner exercises the Repurchase Right for that portion of the University Property proposed for Non-university Development, Owner agrees to execute the purchase agreement, in substantially the form attached hereto as Exhibit "F" within forty five (45) days after the determination of fair market value pursuant to Paragraph 2.2 (iv). 2.5. Title Insurance. Within twenty (20) days o[the Effective Date, Owner shall have obtained, at its expense, title insurance naming the City as the insured and, guaranteeing fee title, subject to any exceptions or conditions approved by the City, for the University Property and Open Space Property from Chicago Title Insurance Company in an amOlmt reasonably agreed upon by the parties representing the estimated fair market value of the properties as of the Effective Date. Owner shall maintain said title insurance for the individual properties in full force and effect until the City has accepted the Irrevocable Offers of Dedications for the University Property and Open Space Property . 2.6. Encumbrances. The Owner or successors-in-interest to Owner, may place liens, encumbrances and other title exceptions on the University Property and Open Space Property up until the time frames set forth herein for the respective properties; provided, however such liens, encumbrances, and other except.ions to title are removed from the title to said properties in Land Offer Agreement Between Otay Land Company LLC and City ofChula Vista 7 7-12 accordance with the terms of this Agreement. Owners shall provide the City with written notice of any liens, encumbrances, or other exceptions placed on the respective properties within thirty (30) days of its placement on said properties. Notwithstanding any provision of this Agreement, Owner agrees that prior to the City's acceptance of the Offers of Dedication for the University Property and Opens Space Property, it shall take any and all actions necessary to provide each of the respective properties to the City free and clear of all liens and encumbrances other than: (i) any easements and rights-of-way determined upon [mal approval of the Entitlements required for development of the Project which do not materially interfere with the intended use of the University Property or Open Space Property for the Permitted Uses; (ii) prorated non-delinquent real estate taxes, special taxes and assessments; and (iii) those exceptions to title that are approved by the City (collectively, (i) through (iii) are referred to as the "Permitted Exceptions"). In addition, Owner shall not pledge the rights to this Agreement as security for any of its other obligations. 2.7 Removal of Encumbrances. No later than five (5) calendar days prior to the first public hearing on the Entitlements, Owner shall remove all liens, encumbrances and any other exceptions, other than the Permitted Exceptions, and any other exception not approved by the City from the title to the University Property and Open Space Property. Owner shall provide the City with an updated Title Report for the University Property and Open Space Property five (5) calendar days prior to the Iast public hearing for the Entitlements as set fo.rth in this Paragraph. Owner understands and agrees that if Owner faiIs to remove alI Iiens, encumbranees and those exceptions, other than the Permitted Exceptions, not approved by the City, in the time frames set forth herein, this Agreement and the Procesaing Agreement shaH be terminated and any remaining hearings on the Entitlements shall be cancelled and the application for the Entitlements shall be considered withdrawn by the Owner. 2.8. JIazardous Waste Report Owner shall provide the City within thirty (30) days of the Effective Date of this Agreement with a Phase One Hazardous Waste Report on the University Propelty and Open Space Property by a professional firm acceptable to the City and again not less than thirty (30) days prior to the first public hearing for the Entitlements with an update ofthe Phase One Hazardous Waste Report for the respective propeliies by the same professional finn. Owner sh,11I be responsible for the costs of both reports. Owner understands that the City's acceptance of the Offers of Dedication is conditioned upon the City's approval of said report and that the City has entered into this Agreement contingent 011 the University Property and Open Space Property being free and clear of any environmental condition which would be a violation of any applicable federal, state or local law, ordinance or reguIation relating to Hazardous Materials. Owner fmiher understands and agrees that Owner, in addition to any obligations as the property owner, is fully responsible for the administration and oversight of the environmentaI condition of the University Property and Open Space Property until the City has accepted the Offer of Dedications for the respective properties. If after the City's review of the updated Phase One Hazardous Waste Report for said properties, the City determines the environmental condition of the University Property or Open Space Property is not acceptable to the City, Owner may, in its discretion, cure said condition within thirty (30) days of City's written notice to Owner that such property is not acceptable. If Owner decides not to cure the condition of the University Property or Open Space Property, this Land Offer Al.:,'Teernetlt Betwf..ocn Dl:ay Laud Company LLC and CityofCllUla Vista 8 7-13 Agreement and the Processing Agreement shall be tenninatedand any applications submitted for the Project shall be considercd withdra~n by the Owner and any and all hearings for the Entitlements shall be cancelled. 2.9 Transfer of Units. Owner may transfer, at its discretion, up to fifteen percent (15%) of the units allocated to a village within the Project to another village within the same Project. The Planning Director may approve, in his or her discretion, any transfer of units more than fifteen percent (15%) or any transfer of units to another village within Otay Ranch but not within the Project, if all of the following requirements are satisfied: (il the transfer of units between villages is consistent with the GDP's and Village Design policies on density transfers, (ii) the total number oftmits for the Project is not exceeded, (iii) public facilities and infrastructure including schools and parks are provided based on the final number of units within each village or Planning Area, (iv) the planned identity of the villages are preserved including the creation of pedestrian friendly and transit-oriented development; and (v) preserve conveyance obligations will continue to be based on the final map development area. ARTICLE 3 ACCEPTANCE OF DEDICATION 3.1. Entitlements Processing. Owner will file with City all applications and pay all applicable fees for the review, processing, and consideration of the Entitlements by the City. City will diligently process, in accordance with the schedule set forth in the Processing Agreement, the Entitlements tor final consideration by the City COllllcil. Notwithstanding the foregoing, the City's acceptance of the Offer of Dedication is not contingent on the time frames associated with the processing ofthe Entitlements as set forth in the Processing Agreement, except tllat final approval of the Entitlements must be rcceived by the Owner within the time frame set forth in Paragraph 3.3 herein. In addition, Owner understands and agrees that the processing and/or approval of final maps, grading permits and other mini sterial permits are not subject to this Agreement and the acceptance of the Offer of Dedication to the City shall not be contingent on Owner receiving such ministerial approvals. 3.2. Review Period. Ov,ner shall have thirty (30) days after the final draft for the Entitlements (which include all of the conditions and mitigation measures associated with said docUt1lents) ("Final Draft Entitlements") have been completed by the City, to review such documents and decide whether to proceed with processing the Entitlements. During the Owner's thirty-day Land Offer Agreement Between Omy laml COI'npany LLC and City ofChula Vista 9 7-14 review period, City agrees to meet with Owner in good faith to discuss the draft documents and consider any changes Owner may request. Owner shall notifY the City in writing, at the conclusion of the thirty-day review period, as to whether Owner wishes to continue processing the Entitlements. Owner may decide to stop processing the Entitlements if Owner detemlines, in its sole discretion, that it is economically infeasible or undesirable to continue. If City is notified to stop processing Entitlements and the reasons thereof, this Agreement shall tenninate, and the application for the Entitlements shall be considered withdrawn by the Owner. 3.3. Approval of Entitlements. If the Entitlements are approved by the City Council in substantially the fonn of the Final Draft Entitlements on or before twenty four (24) montlls after Owner has suhmitted a completed application for the Project to the City, as such time may be extended as provided for in Paragraph 5.9 (Force Majeure), Owner agrees that the City may thereafter accept the Offers of Dedication for the University Property and the Open Space Property after the expiration of all applicable statutes of limitations to challenge the Entitlements and any additional time caused by Third Party Litigation, as described in Paragraph 3.4 herein. In the event of Third Party Litigation, City may accept the Offers of Dedication upon entry of a final, nonappealable judgment affirming the validity of the Entitlements or other resolution mutually acceptable to the parties ("Favorable Outcome"). In the event of any outcome to the Third Party Litigation other than a Favorable Outcome, the parlies agree to meet and confer regarding corrective action necessary to preserve the Entitlements. In the event Owner or City determines it is not in Owner's or City's interest to proceed with the corrective action necessary to preserve the Entitlements, this Agreement shall tenninate and any Entitlements that have been approved by the City shall be considered void ab initio and be of no effect. In the event Owner and City elect to proceed with the corrective aetion necessary to preserve the Entitlements, the City shall be entitled to accept the Offers of Dedication for tile University Property and Open Spaee Property upon entry ofa final, nonappealable judgment affinning the validity of the Entitlements. In the event the City does not approve the Entitlements in substantially the fonn of the Final Draft Entitlements or in such corrected fonn as necessary to preserve the Entitlements, on or before twenty tour (24) months after Owner has submitted a completed application for the Project to the City, as such time may be extended as provided for in Paragraph 5.9 (Force Majeure), any Entitlements received by Owner shall be considered to have been withdrawn by Owner and City's action on the Entitlement,; shall be void ab initio and be of no effect. 3.4 Third Partv Litigation. In tile event of the occurrence of'TIurd Party Litigation, the tenn of this Agreement shall be extended for the period of the pendency of tile Third Party Litigation or until such time as either the City or Owner (ilTespective of who is named in the Third Party Litigation) decides it is no longer desirable to defend against the Third Party Litigation, at which time written notice shall be provided to the other party reqtlesting tennination ofthis Agreement. In such event, the Entitlements received by Owner shall be considered withdrawn by Owners and be null and void. The City shall return the Irrevocable Offers of Dedication to the Owner. 3.5 Communitv Public Facilities Credit. Onee the City has accepted the Offer of Dedication to the University Property, Owner's obligations to provide Community Public Facilities umd Offer AgR.'elllenl Belween Otay land Company LtC and City ofC1mla Vista 10 7-15 land uses within the Property shall be deemed satisfied. Notwithstanding the foregoing, Owner shall provide (subject to the approval of the Planning Director) two (2) CPF sites within the Project of four (4) acres each. 3.6 Discretion ofCitv. Owner understands and agrees that the City reserves the right to exercise its discretion as to all matters which the City is by law entitled or required to exercise its discretion with respect to the Entitlements, including but not limited to California Environmental Quality Act and other similar laws. In addition the Entitlements shall be subject to and brought to City Council for consideration in accordance with applicable legal requirements, including laws related to notice, public hearings and due process. In addition, nothing herein shall be construed as to restrict fhe City's ability to exercise its discretion as provided by the City's Growfh Management Program or to condition the Project in the mmmer City determines appropriate in accordance with its general police powers. 3.7 [Intentionally omitted.] 3.8 [Intentionally omitted.] 3.9 Endowment. Upon execution ofthis Agreement, Owner shall provide the City with one million dollars for City to use in its sole discretion for the plmming and recruitment of a university or any other higher educational institution to be located within the Otay Ranch GDP area. Within five (5) days prior to the last public hearing for the Entitlements, Owner shall deliver to Chicago Title Company ("Escrow Agcnt") an addition~ one million dollars ("Escrow Amount") for the City to use in its sole discretion for the planning and recruittnent of a university or mlyother higher educational institution to be located within fhe Otay Ranch GDP area., subject to the terms and conditions of this Paragraph. vVhen all conditions to the City's acceptance of the Offers of Dedication for the University Property and the Open Space Property have been satisfied pursuant to Paragraph 3.3 of this Agreement, Escrow Agent will immediately and automatically release the Escrow Amount to the City. However, if the City does not approve the Entitlements, or if this Agreement terminates for any reason prior to the City's acceptance ofthe Offers of Dedication for theUniversity Property and the Open Space Property pursuant to Paragraph 3.3 ofthis Agrecment, Escrow Agent will immediately and automatically release the Escrow Amount to the Owner. Escrow Agent will deposit the Escrow Amount in one or more accounts designated by Owner. All interest on the Escrow Amount wi1l be paid to Owner. The parties will deliver such instructions as may be reasonably requested by the Escrow Agent so long as they are consistent with the terms of this Agreement. If the City does not approve the Entitlements pursuant to Paragraph 3.3, or in the event this Agreement terminates in accordance with Paragraph 5.19, City shall reimburse the Owner the amount of one million dollars previously paid to the City upon execution of this Agreement within thirty (30) days and Owner shall not be entitled to any interest on said money. In the event Owner fails to pay one million dollars to the City upon execution ofthis Agreement, or fails to place another one million dollars in escrow in accordance with the terms and time frame set forth herein, this Agreement and the Processing Agreement shall be terminated and any applications submitted for LamI Otfer Agreement Bet\Veel'1 Otay Land Company LLC and City of Chula Vista 11 7-16 the Project shall be considered withdrawn by the Owner and any and all hearings for the Entitlements shall be cancelled. 3.1 () Uni versitv Design. The parties acknowledge and agree that a university will benefit the citizens of the City and the reglon and could provide a unique opportunity to complement the development ofthc Property. The City aclmowJedges that the Owner may participate, by providing input and feedback to the City, in the design of any future university within Gtay Ranch including the design of the University Property. City agrees to solicit input from Owner, and the public, meet with Owner to discuss the design of a university, and provide to Owner all non-privileged documents, stndies and materials relevant to the design and development ofa university. It is the desire of the parties to work cooperatively, as allowed by law, in the design of the university to insure compatibility ofJand uses, design and architectnre with other adjacent properties, including the Project. Notwithstanding the foregoing, nothing contained herein shall be construed as to restrict the City's ability to exercise its legislative authority or its discretion as to all matters which the City is by law entitled or required to exercises its discretion with respect to any future decisions of the City with respectto any matter pertaining to the University Property or design of a university. ARTICLE 4 GENERAL PROVISIONS 4.1. Infrastructure To Serve University Propertv. Owner will not be required to fund, and the development ofthe Property shall not be conditioned upon the funding or construction of public infrastructnre required to serve the University Property including, without limitation, streets, sanitary, sewer, storm drain, water, park, open space, landscaping and dry utility facilities llnless City provides reasonable assurance of funding or reimbursement in accordance with State Law and/or the City's ordinances. 4.2. Universitv Propertv Assessments. City agrees not to impose on the University Property any special taxes, assessments, fees, charges or other exactions prior to City acceptance of the Irrevocable Offer of Dedication of the University Property. Owner shall be responsible for paying any taxes, liens and assessments currently being imposed on the University Property and Open Space Property tmtil the City has accepted the Offer of Dedication. 4.3. Term. The term of this Agreement and the rights, duties and obligations of the parties under this Agreement shall expire five (5) years from the Effective Date unless extended due to Third Party Litigation or Force Majeure as herein defined, except for such provisions herein which expressly survive beyond the expiration of this five-year term. 4.4. "As Is" Convevance. City is relying solely upon its own inspection, investigation, and analysis of the University Property and the Open Space Property in entering into this Agreement. The University Property and Open Space Property will be conveyed to City on an "as is" basis. The parties agree that Owner makes no representations or warranties regarding the L.and Otfer Agreement Betwt:en Ohty Land Company UC and City ofChulll Vista 12 7-17 . condition of the University Property or Open Space Property, or the fitness of said land for City's intended use or development thereof. ARTICLE 5 MISCELLANEOUS PROVISIONS 5.1. Entire Al2Ieement. This Agreement, the Processing Agreement and Entitlements set forth and contains the entire understanding and agreement of the parties, and there are no oral or written representations, understandings or ancillary covenants, undertakings or agreements which are not contained or expressly referred to as an Exhibit herein. No testimony or evidence of any such representations, understandings or covenants shall be admissiblc in any proceeding of any kind or nature to interpret or determine the terms or conditions of this Agreement. 5.2. Severability. If any term, provision, covenant or condition of this Agreement shall be determined invalid, void or unenforceable, then this Agreement shall terminate in its entirety, unless the parties otherwise agree in writing. 5.3. Interpretation and Governing Law. This Agreenlent and any dispute arising hereunder shall be governed and interpreted in accordance with the laws of the State of California. This Agreement shall be construed as a whole according to its fair language and common meaning to achieve the objectives and purposes of the parties hereto, and the rule of constmction to the effect that ambiguities are to be resolved against the drafting party shall not be employed in interpreting this Agreement, all parties having been represented by counsel in the negotiation and preparation hereof. 5.4. Paragraoh Headings. All Paragraph heading and subheadings are inserted for convenience only and shall not affect any constl1.1ction or interpretation of this Agreement. 5.5. Singular and Plural. As used herein, the singular of any word includes the plural. 5.6. Time of Essence. Time is ofthe essence in the perf01mance of the provisions of this Agreement as to which time is an element. 5.7. Waiver. Failure of a party to insist upon the strict performance of any of the provisions of this Agreement by the other party, or the failure by a party to exercise its rights upon the default of the other party, shall not constitute a waiver of such party's right to insist and demand strict compliance by the other party with the terms of this Agreement thereafter. 5.8. No Third Partv Beneficiaries. This Agreement is made and entered into for the sole protection and benefit for the parties and their successors and assigns. No other person shall have any right of action based upon any provisions of this Agreement. 5.9. Force Maieure. Neither party shall be deemed to be in default where failure or delay Land Offer Agrcemenl Between Otay Land Company LLC and City ofChula Vista 13 7-18 in performance of any of its obligations under this Agreement is caused by earthquakes, other Acts of God, fires, wars, riots or similar hostilities, strikes and other labor difficulties beyond the party's control (including the party's employment force), governmental reguJ.ations beyond the City's reasonable control, court actions (such as restraining orders or injunctions), or other causes beyond the party's reasonable control. If any such event shall occur or should delays be caused by Owner failing to submit plans or other documents in a timely manner that causes a delay in the City's processing of the Entitlements, or requests farther changes or amendments to the Project or Entitlements, the term of this Agreement and the time for performance shall be extended for the duration of each such event, provided that the te.rm of this Agreement shall not be extended under any circumstances for more than five (5) years. 5.10. Mutual Covenants. Unless expressly provided otherwise in this Agreement, the covenants contained herein are mutual covenants and also constitute conditions to the coucurrent or subsequent performance by the party benefited thereby of the covenants to be performed hereunder by such benefited party. 5.11. Successors In Interest. Unless expressly provided otherwise in this Agreement, this Agreement shall be binding upon and inure to the benefit of the successors, assigns and interests of the parties as to any or all of the Property until released by the mutual consent of the parties. The burden ofthe covenants contained in this Agreement benefit and burdens the Property, its successors and assigns and any successor in interest thereto as wen as benefit the City. City is deemed the beneficiary of such covenants for and in its own right and for the purposes of protecting the interest ofthe community and other parties public or private, in whose favor and for whose benefit of such covenants running with the land have been provided without regard to whether City has been, remained or are owners of any particular land or interest therein. 5.12. Counteroarts. The parties may execute this Agreement in counterpmts, which counterparts shall be construed together and have the sam.e affect as if all the parties had executed tbe same instrument. 5.13 Jurisdiction and Venue. Any action Dr law or inequity arising under tbis Agreement or brought by an party hereto for the purpose of enforcing, construing or detennining the validity of any provision of this Agreement shall be med and tried in the Superior Court ofthe County of San Diego, State of California, and the parties hereto waive all provisions oflaw providing for the filing, removal or change of venue to any other court. 5.14. Further Actions and Instnnnents. Each of the parties shall cooperate with and provide reasonable assistance to the other to the extent contemplated hereunder in the performmlce of all obligations under this Agreement aud the satisfaction of the conditions oftbis Agreement. Upon tbe request of either party at any time, the other party shall promptly execute, with acknowledgment or afiidavit ifreasonably required., and file or record suchreqnired instruments and writings reasonably acceptable to such party and take any actions as may be reasonably neCeSSlliy under the terms of this Agreement to carry out the intent and to fulfill the provisions ofthis Agreement, including without Land OtTer Agrec.."menl Between Omy Lmd Company I.LC and City ofChuin Vista 14 7-19 limitation actions necessary to remove this Agreement from the chain of title as to al] or a portion of the Property when authorized by this Agreement, provided that neither party will be obligated to modify any rights or accept any additional obligations or liabilities in connection therewith. Following City's acceptance ofthe Irrevocable Offer of Dedication for the University Property and Open Space Property, upon the request of Owner, City will talee actions reasonably necessary to remove this Agreement from the chain of title of that portion of the Property being conveyed to a third party. 5.15. Amendments in Writin!!!CootJeration. This Agreement may be amended only by \"ritten consent of both parties specifically approving the amendment. 5.16. Notices. Any notice caned for in this Agreement shall be sent by hand delivery, overnight courier service, or by registered or certitied mail as follows: To City at: City of Chula Vista 276 Fourth Avenue \ Chula Vista, CA 9]9]0 Altn: Ann Moore, City Attorney I . ...........-....-.-------.....-..--.. i Otay Land Company, LLC . 1903 Wright Place, Suite 220 i Carlsbad, CA 92008 . Attn: Mr. Curt R. Noland i To Owner at: \ With a copy to: 1 _..._..__.._._____.___..___......_._...___m .. Luce, Forward, Hamilton & Scripps LLP i 600 West Broadway, Suite 2600 . San Diego, CA 9210] , Attn: Jeffrey A Chine, Esq. "_..m.________.._ Or such other address as a party may inform the others of from time to time. Any such notices sent by registered or certified mail, return receipt requested, shall be deemed to have been duly given and received three (3) business days after the same is so addressed and mailed with postage prepaid. Notices delivered by overnight service shall be deemed to have been given upon delivery, charges prepaid to the U.S. Postal Service or private courier. Any notice or other document sent by any other matter shall be effective only upon actual receipt thereof. 5.17. Authoritv to Executc. Owner and the City each wamUlls and represents that the person or persons executing this Agreement and Irrevocable Offers of Dedication on their behalf have the authority to execute this Agreement and Irrevocable Offers of Dedication. 5.18 Exhibits and Attachments. All Exhibits referenced within the Agreement are incorporated herein and made a part of this Agreement. L:l1'Id Ofter Agreement Between Omy Land Company LLC and City ofCl,ula Vista 15 7-20 5.19 Termination. In the event this Agreement terminates as provided in Paragraphs 2.6, 2.7, 2.8, 3.2, 3.3, 3.4, and 3.9 herein, the Entitlements shall be withdrawn, the Offers of Dedication shall be null and void, and of no further force and effect (the parties shall promptly take all actions reasonably necessary to promptly remove the document from the chain of title) and the Processing Agreement also shall tenninate, Owner agrees to promptly pay any outstanding processing fees due the City in accordance with the Processing Agreement. 5.20 Proiect as A Private UndeJtakillg. It is specifically understood by City and Owner that (i) theProj ect is a private development; (ii) City has no interest andlor responsibilities for or duty to the Owner or third parties concerning any improvements to the Property; (iii) Owners shall have the full power and exclusive control ofthe Property subject to the obligations of Owner set forth in this Agreement, any otheJ. agreements with City and applicable law; and (iv) the Project is not a joint venture or partnership between the City and Owner. 5.21 No Attornev fees. No attorneys fees shall be recoverable in connection with this Agreement, except that in any action between the parties arising our of or related to the City's obligation to reimburse Owner funds paid City pursuant to Paragraph 3.9, entitled "Endowment", the prevailing party shall be entitled, in addition to any other relief; to recover its reasonable attorneys' fees and all other costs reasonably incurred. (NEXT PAGE IS SIGNATURE PAGE) Land Offer Agreement Between Otay Lnnd Company LLC 2nd City ofChuJa Vista 16 7-21 APR-09-200a 03:12PM FROM-HomeFed Corporation 7609188200 T-442 P.002/002 F-012 SIGNATURE PAGE TO LAND OFFER AGREEMENT IN' WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first set forth above. CITY OF CHULA'V1STA, apolitical subdivision of the State of California OTAYLAND COMPANY, LLC, a Dela lia .. company By: Its: Donna Norris, Interim Cit Clerk APPROVED AS TO FORM EXECUTED BY Ann Y. Moore, City Attorney Cheryl Cox, Mayor Land Offc:r Agreement Betw:cn ~y Land Compllny LLC and City of Chula Vista. 17 7-22 CALIFORNIA AI.L-PURPOSE ACKNOWLEDGMENT County at ,-.. .' j/tr :,(:(:,.\ I before me, } State of California ,'.,',- ! '"" ' On ."!'. -,1'" ,J , )':,y'Y , : /. .' '-oala J/::. , / / ' ",.1., '/ }'t,'f/{ Here Insert Name and TilW at IhG Officer \, personally appeared /1,'. (/ , ,,/')"'<'i~~'/'; Name(S}oiSigner(s) - - - - - - - .. I<AIlEN st PIERRE "'1 ,;:mrniS!ion.. lS0S61S ary Public . Califomia " SO"....._~_ ! Mveo -""""""'UtIly mrn. &pr.... Aug a, 2000 who proved to me on the basis of satisfactory evidence to be the person(-s) whose name(,,) isia", subscribed to the within instrument and acknowledged to me thai helsfle/lAey executed L'1e same in his/Me,ilheir authorized capacity(ies), and that by hisih€>J:/\~eir signature(s} on the instrument the person(s}, or the entity upon behalt 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. Place Notary Seal AOOvs WITNESS my h;lnd and oificial seal. . Signature ,I (~{{:,,/ "';, t~>l ( Signature 01 NCll!l'Y P;.lblic ._--~"----_.__. OPTlOflfAl.. Though the information below is not required by taw, It may prove valuable to persons (!3{ying 0/7 the docwTJent and could prevent fraudulent removal and reattachment of this form to anoihl3r document. Description of Attached Document Title or Type of DOGument: __..___.________.___._ Document Date: Number of Pages: Signer(s) Other Than Named Above: -_.~--_._.._._--_..._------------_.- Capacily(ies) Claimed by Signer(s) Signer's Name: u Individual jJ Corporate Officer - Titie(s): CJ Partner - 0 Limited [J General [] Attorney in Fact [] Trustee o Guardian or Conservator [] Other:_____________ . . Top ollhumb hare SigFle~-'s Name: = lndjvfduq,l Corporate Ofiteer - TitJe(s): L.:: Partner - 0 Limi1~d U General C Attorney in Fact o Trustee [J Guardian or. Conservator _, I U Other:".! -----.--..-------.- 't". " - Signer Is Representing: Signer Is Representing: '" 6l1313-2402' W'M'I.Na~onaINclary:o;'Q Item #5SQ7 Reorder: Gall Toll-Flee :-t1lJO..'376-6!J2.7 7-23 List of Exhibits Exhibit A........ Property Description for Undeveloped real property within Villages 4,7,8,9 and the EUC Exhibit B........ Property Description for 50 acres Exhibit B-1.... Open Space Description for 160 acres EJ0ibit c....... Development Agreement Provisions Exhibit D....... Design Plan Exhibit E....... Form rOD Exhibit F. . . . . . .Purchase Agreement Land Offer Agreement Between Qtay Land Company LLC and City ofChLlln Vista ]8 7-24 EXHIBIT "A" LEGAL DESCRIPTION THOSE PORTIONS OF LOTS 16, 17 18,27 AND 28 OF OTAY RANCHO, IN THE COUNTY OF SAN DIEGO STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF, NO. 862 FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY; FEBRUARY 7,1900 AND AS SHOWN ON RECORD OF SURVEY 16504 FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 9, 2000, MORE PARTICULARLY DESCRIBED AS FOLLOWS: OTAY LAND COMPANY PARCEL "B" LOTS 27 AND 28 OF OTAY RANCHO, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 862, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, FEBRUARY 7,1900. EXCEPTING THEREFROM THAT PORTION DESCRIBED AS FOLLOWS: COMMENCING AT THE CORNER WHICH IS COMMON TO LOTS 23, 24, 27, AND 28 OF SAID OTAY RANCHO; THENCE SOUTH 71016'00" WEST (RECORD: SOUTH 72013;00" WEST), A DISTANCE OF 544.20 FEET TO THE TRUE POINT OF BEGINNING; THENCE NORTH 1r31'00" WEST (RECORD: NORTH W34'00" WEST), A DISTANCE OF 97.14 FEET; THENCE NORTH 61008'00" WEST, A DISTANCE OF 1,225.69 FEET; THENCE SOUTH 28059'39" WEST, A DISTANCE OF 449.11 FEET; THENCE SOUTH 38046'05" EAST, A DISTANCE OF 980.94 FEET; THENCE 74004'00" EAST, A DISTANCE OF 810.00 FEET; THENCE NORTH 15056'00" WEST, A DISTANCE OF 195.88 FEET; THENCE NORTH 1r31'00" WEST, A DISTANCE OF 66.13 FEET, RETURNING TO SAID TRUE POINT OF BEGINNING. ALSO EXCEPTING THEREFROM THOSE PORTIONS OF SAID LOTS 27 AND 28 CONVEYED BY SAN DIEGO LAND COMPANY TO THE SOUTHERN CALIFORNIA MOUNTAIN WATER COMPANY, BY DEED DATED APRIL 11, 1912, AND RECORDED JUNE 24,1912 IN BOOK 570, PAGE 113 OF DEEDS, RECORDS OF SAN DIEGO COUNTY, THE PARCELS OF LAND SO CONVEYED TO SAID WATER COMPANY BEING THE SOUTH 492.5 FEET OF THE EAST 506 FEET OF LOT 4 OF SAID OTAY RANCHO AND STRIP OF LAND VARYING IN WIDTH FROM 100 FEET TO 50 FEET FOllOWING THE LINE OF THE RIGHT OF WAY OF THE OTAY-SAN DIEGO PIPE LINE AND THE RIGHT OF WAY OF THE OTAY-CORONADO PIPE LINE, AS DESCRIBED IN SAID DEED AND SHOWN ON THE MAPS WHICH ARE ATTACHED TO AND MADE A PART OF SAID INSTRUMENT, REFERENCE BEING HEREBY MADE TO THE RECORD OF SAID INSTRUMENT FOR A MORE PARTICULAR DESCRIPTION OF SAID PARCELS. 0:\ 160 136.00IExhibits\LEGAL\leg-163-ex-a.doc 7-25 Page 1 of4 EXHIBIT "A" LEGAL DESCRIPTION ALSO EXCEPTING THEREFROM THAT PORTION CONVEYED AS PARCEL 3 IN AMENDED COMPLAINT IN CONDEMNATION CIVIL NO. 79-0907-N, RECORDED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, JANUARY 15,1980 AS DOCUMENT NO. 80-137651. CONTAINING 278.72 ACRES, MORE OR LESS. OTAY LAND COMPANY PARCEL "C" LOTS 16, 17 AND 18 OF OTAY RANCHO, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 862, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, FEBRUARY 7,1900. EXCEPTING THEREFROM THAT PORTION OF SAID LOT 17, CONVEYED BY SAN DIEGO LAND COMPANY TO THE SOUTHERN CALIFORNIA MOUNTAIN WATER COMPANY, BY DEED DATED APRIL 11, 1912, AND RECORDED JUNE 24, 1912 IN BOOK 570, PAGE 113 OF DEEDS, RECORDS OF SAN DIEGO COUNTY, THE PARCELS OF LAND SO CONVEYED TO SAID WATER COMPANY BEING THE SOUTH 492.5 FEET OF THE EAST, 506 FEET OF LOT 4 OF SAID OTAY RANCHO AND STRIPS OF LAND VARYING IN WIDTH FROM 100 FEET TO 50 FEET FOLLOWING THE LINE OF THE RIGHT OF WAY OF THE OTAY-SAN DIEGO PIPE LINE AND THE LINE OF THE RIGHT OF WAY OF THE OTAY-CORONADO PIPE LINE, AS DESCRIBED IN SAID DEED AND SHOWN ON THE MAPS WHICH ARE ATTACHED TO AND MADE A PART OF SAID INSTRUMENT, REFERENCE BEING HEREBY MADE TO THE RECORD OF SAID INSTRUMENT FOR A MORE PARTICULAR DESCRIPTION OF SAID PARCELS. ALSO EXCEPTING THEREFROM THAT PORTION OF LOTS 17 AND 18 CONVEYED TO THE STATE OF CALIFORNIA IN DEED RECORDED SEPTEMBER 1, 2005 AS DOCUMENT NO. 2005-0759298 LYING SOUTHWESTERLY OF THE FOLLOWING DESCRIBED LINE: 0:\ 160 136. OOlExhibitslLEGAL \leg-163-ex -a. doc 7-26 Page 2 of4 EXHIBIT" A" LEGAL DESCRIPTION BEGINNING AT A 2" IRON PIPE WITH DISC STAMPED "R.C.E. 22606" PER RECORD OF SURVEY NO. 16504, RECORDED MARCH 9TH, 2000 IN THE OFFICE OF SAID COUNTY RECORDER, SAID PIPE MARKING THE NORTHEAST CORNER OF LOT 2 3 OF SAID OTAY RANCHO, AND BEARING NORTH 71057'57" EAST 804.798 METERS FROM A 2" IRON PIPE WITH DISC STAMPED "L.S. 5284" MARKING THE SOUTHWEST CORNER OF LOT 10 OF MAP NO. 14432, RECORDED AUGUST 30TH, 2 0 02 IN THE OFFICE OF SAID COUNTY RECORDER; THENCE SOUTH 18040'36" EAST 324.223 METERS TO A POINT HEREIN REFERRED TO AS POINT "A"; THENCE CONTINUING SOUTH 18040'36" EAST 178.898 METERS TO THE BEGINNING OF A NON-TANGENT 1629.700 METER RADIUS CURVE CONCAVE SOUTHWESTERLY, A RADIAL BEARING TO SAID BEGINNING BEARS NORTH 62020'18" EAST; THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 03046'15" A DISTANCE OF 107.257 METERS; THENCE NON-TANGENT TO SAID CURVE SOUTH 66004'27" WEST 2.000 METERS TO THE BEGINNING OF A NON-TANGENT 1627.700 METER RADIUS CURVE CONCAVE SOUTHWESTERLY, A RADIAL BEARING TO SAID BEGINNING BEARS NORTH 66006'33" EAST; THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 07"22'45" A DISTANCE OF 209.633 METERS; THENCE NON-TANGENT TO SAID CURVE SOUTH 46012'45" EAST 7.041 METERS TO THE BEGINNING OF A NON-TANGENT 1631.200 METER RADIUS CURVE CONCAVE SOUTHWESTERLY, A RADIAL BEARING TO SAID BEGINNING BEARS NORTH 73042'11" EAST; THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 01037'25" A DISTANCE OF 46.228 METERS; THENCE SOUTH 75019'37" WEST 3.500 METERS TO THE BEGINNING OF A 1627.700 METER RADIUS CURVE CONCAVE SOUTHWESTERLY; THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 04031'29" A DISTANCE OF 128.541 METERS; THENCE NON-TANGENT TO SAID CURVE SOUTH 18040'36" EAST 87.291 METERS; THENCE SOUTH 08000'06" EAST 19.092 METERS; THENCE SOUTH 11041'19" EAST 24.481 METERS; THENCE SOUTH 16027'43" EAST 24.874 METERS; THENCE SOUTH 20032'09" EAST 26.118 METERS; THENCE SOUTH 20053'50" EAST 30.314 METERS; THENCE SOUTH 04019'10" WEST 29.530 METERS; THENCE SOUTH 06003'38" 0:\160136.00IExhibitsILEGAL lleg-163-ex -a. doc 7-27 Page 3 of4 EXHIBIT "A" LEGAL DESCRIPTION WEST 77.800 METERS; THENCE SOUTH 05049'22" WEST 22.546 METERS; THENCE NORTH 79053'42" EAST 32.402 METERS; THENCE SOUTH 01031 '37" WEST 25.439 METERS; THENCE SOUTH 06034'53" WEST 11.008 METERS; THENCE SOUTH 45000'54" WEST 30.733 METERS; THENCE SOUTH 01 24'21" WEST 77.485 METERS; THENCE SOUTH 11 22'20" WEST 30.117 METERS; THENCE SOUTH 13045'02" WEST 28.527 METERS; THENCE SOUTH 31010'10" WEST 28.222 METERS; THENCE SOUTH 16 38'48" WEST 22.806 METERS; THENCE SOUTH 08 41'59" WEST 25.640 METERS; THENCE SOUTH 17028'45" WEST 27.925 METERS; THENCE SOUTH 250 54'42" WEST 26.053 METERS; THENCE SOUTH 01051'20" WEST 90.226 METERS; THENCE SOUTH 12017'55" EAST 34.960 METERS; THENCE SOUTH 03015'57" WEST 31.934 METERS TO THE BEGINNING OF A NON- TANGENT 63.657 METER RADIUS CURVE CONCAVE NORTHWESTERLY, A RADIAL BEARING TO SAID BEGINNING BEARS SOUTH 77041'34" EAST; THENCE SOUTHWESTERLY AND WESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 76000'21" A DISTANCE OF 84.444 METERS; THENCE NON-TANGENT TO SAID CURVE SOUTH 16012'00" WEST 157.318 METERS TO THE BEGINNING OF A 1561.900 METER RADIUS CURVE CONCAVE EASTERLY; THENCE ALONG THE ARC OF SAID CURVE SOUTHERLY 634.612 METERS THROUGH A CENTRAL ANGLE OF 23016'47" TO A POINT ON THE SOUTH LINE OF LOT 25 OF SAID OTAY RANCHO, SAID POINT BEING THE POINT OF TERMINUS AND BEARING NORTH 71022'55" EAST 2555.510 METERS FROM A 2" IRON PIPE WITH DISC STAMPED "R.C.E. 22606" PER SAID RECORD OF SURVEY, SAID PIPE MARKING THE SOUTHWEST CORNER OF LOT 3 6 OF SAID OTAY RANCHO. ALSO EXCEPTING THEREFROM THAT PORTION OF LOT 16 CONVEYED TO THE COUNTY OF SAN DIEGO IN DOCUMENT RECORDED FEBRUARY 28, 2006 AS DOCUMENT NO. 2006-0139662. CONTAINING 373.00 ACRES, MORE OR LESS. DESCRIBED PARCELS CONTAINING A TOTAL OF 651.72 ACRES MORE OR LESS, AS SHOWN ON EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. L . KOEPKE, 1.:.8. 7841 SE EXPIRES 12/31/2008 PREPARED UNDER THE DIRECTION OF: 0;\ 160] 36.00lExhibitslLEGAL \leg-163-ex -a. doc 7-28 Page4of4 ~ EXHIBIT "A" f}(; aC;;Y~ Q,<1;'.:,.~~ LEGEND 1.........4 SUBJECT PROPERTY EAST H ST. OL YMP/C PKwY s.. 7.... ~~ ^~ ~ ~q;-R OTAY RES. OLC OTAYLAND COMPANY DESIGNA TED NOTES o TA Y VALLE ROAD 1. ALL BEARINGS SHO""" ARE PER R.O.S. 16504, RECORDED 3/9/2000, AS FILE NO. 2000-120683, IN THE COUNTY OF SAN DIEGO, STA TE OF CAliFORNIA. 8 AREA TOTALS NO T TO SCALE OLC PARCEL "B" OLC PARCEL "C" TOTAL TOTAL FEE AREA = 278.72 ACRES:J: TOTAL FEE AREA = 373.00 ACRES:J: 651. 72 A CRES:J: DESCRIPTION EXCEPTIONS OLC PARCEL "B" ITEMS.' 1 SAN DIEGO-OTA Y PIPEliNE RIGHT OF WA Y, AS SHO""" IN DEED BOOK 937, PAGE 463, RECORDED 7/14/1923 &: DEED BOOK 598, PAGE 54, RECORDED 12/20/1912. 2 SOUTH SAN DIEGO RESERVOIR, PORTION OF LOT 28 &: 27 GRANTED TO THE CITY OF SAN DIEGO IN DEED RECORDED 8/22/1972 UNDER FlLE/pAGE NO. 2222672, ornCIAL RECORDS. 3 SAN DIEGO-CORONADO PIPELINE RIGHT OF WA Y, AS SHO""" IN DEED BOOl< 570. PAGE 113, RECORDED 6/24/1912. 4 PARCEL 3 IN AMENDED COMPLAINT IN CONDEMNA TlON CIVIL NO. 79-0907-N, RECORDED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY. JANUARY 15. 1980 AS DOCUMENT NO. 80-137651 OLC PARCEL "C" ITEMS 5 PORTION OF LOT 17, CONVE:'lFD TO THE SOUTHERN CAliFORNIA MOUNTAIN WAm? COMPANY, BY DEED DATED APRIL 11, 1912, AND RECORDED JUNE 24, 1912 IN BOOl< 570, PAGE 113 OF DEEDS, OmClAL RECORDS. 6 PARCEL 32018-1, A PORTION OF LOTS 17 &: 18 OF OTA Y RANCHO IN THE CITY OF CHULA VISTA, COUNTY OF SAN DIEGO, GRANTED TO THE STA TE OF CAliFORNIA IN DEED RECORDED 9/1/2005 UNDER Doc. NO. 2005-0759298. 7 PORTION OF LOT 16 CONVE:'lFD TO THE COUNTY OF SAN DIEGO IN DEED RECORDED 2/28/2006 AS DOC. NO. 2006-0139662. _ C/C. . KOEPKE, L.s. 7841 EXP. DA TE: 12/31/2008 ~ <:> -: 1 r::: ~ L..i :l ~ - - ~ <:> - 8 <<S "\ - " '" - - ~ PREPARED BY: STANTEC CONSULTING INC. 277 RANCHEROS DRIVE SUITE 300 SAN MARCOS, CA 92069 stantec 760.891.3200 stantec.com OWNERSHIP EXHIBIT OTAY RANCH, LLC COUNTY OF SAN DIEGO DA TE: 04 0 '2008 DlIG' 163V EXOTl 1 JOB 160163.00 R Yo' SHEET: 1 OF 3 . EXHIBIT "A" J I J~' 29 N71'57'56"E ........', ". ..... ........... . :.::.~::~::~:::.::::~:~~::~:::~::::::::~:::~. ........:....::........ ...................:::.....:........::..: OTAY '. . ............ " " ..... :....... . . ,,', .:........................:........:.......\::..:\:...:..\\'" '. . . . ..::.........,...:.:::.:......:..:.....:.: 2.3 .3.3 2, . . . :..:...:...:.....\\... .:...... . '. .......... RANCHO .34 ',.....:...:..............:..... ............ ....:........< :>.<....:.. ..:.......\... .:....~. '.:' '.:" :....:..:: '. :.\::..\:..:..:.... ~ ......~..::.........:..:..;.:..6tC:.P~.RCEL' i3": :..~..:.:\.....:.::. ~ r\::..::~::;<:..;...:...\.\<:\..:~\;:\<.....:.\\.::.\.\:<<.\..\......:.\:.. ",: ''':':::'..\'' ~ - '. . '. . '. . '27 .... .... ~ . . . ,,',', . " " ,,', ............ " . ,,', " . . ,,', . " ,,', .... -', . -', .'. .:.' .... .... . .:".:..::......\:.:.\.......:...\\.. . . .... ~ ....... ....:...... '..":.' ..\': :'. ~'" . . ;....:..::.\\\ :\; ..:.:.:.......;..:.-\\::.::\\..\..::..;:..\\:...:...:......:\.\.. ,,', ',....', ',- . .................." . ,,', 24 2.L, ~ <::l '" I 1::: ~ l"j :!.. ~ - " " RAI' 5 71'58'JI" W 2641.40' 26 Stantec .;s STANTEC CONSULTING INC. 2n RANCHEROS DRIVE SUITE 300 SAN MARCOS, CA 92069 760.891.3200 """'""'"'" OWNERSHIP EXHIBIT LOTS 27 & 28, RANCHO OTAY COUNTY OF SAN DIEGO DA Tc: 04 10 '2008 Dft{;: 16JV-EXOn-1 JOB . 16016J.00 R SHEET: 2 OF J ~ c::. ..: I 1:: ~ l.o.i :!.. ~ - - ~ c::. - :s '" '" ~ - - c;:s 23 24 EXHIBIT "A" N71"57'SrE 2640.38' ......:........::.:......:.:..........:.......:......:..:.:..... . " . ,,', ,,'. . . . " ',' ...:....... .... ....................::..........:...... ..:.... .:..................:..::... .... .................... ....... .....: .............:. ,', '. . . '. .... ....................:...... .', ............. ........................:.......:.........:..................:.. .....:..:: ',: :..........:..:........:..:. ...:.......:..:. .:................ . ..............:..:....... '.':..; :\:.....\'......:....\..............:. :..:......:.:...\......:\:\.:\\:.\\ :......\..:.:...:...:......::....:...:..:. " . " . " . . . . '. . . . . : . . . ." . ...:........::......:...:.....:................:.....:.:......... '. . . . '. .... '. . '. . . .... .:...........:.......... .::......:.......:...:.:....... \: \\~\::...\.~.:::.\.\.\\.1./..3....:................\.\\:.\;.\.\\::\\\.\\ . ....... . .~ ,~.,~:,'::" ~::~::~\:~\ . :......::..:...:..:.:.\......\"......:.:.::.::.:.......\.........:.:...:.....:..:........::.... : ::~~.~~ :\..'\~:~~:~~\~:\:~~:~~~:.:: . . :'. .............. '" ...::......:....... ............ .... ..... .... ". ..:............. .... .: ..::.:::.:....:\......\.:.:.:.:.:.:......:.:..........:.:.:..:.i........:..::....:..:....... b :..:..:::.:.OLC..PAR.CE'L.i..Ci;..........:...:. ~ .::..:.:\:\\::..\....\.;...\...).... ". ".\:. ". :'.\". \:.;...~.\:.::.:\\....:....\:~:...\.\~ ~ ......\...\\...::..\.\...\\...\.\:{.0.\:.;..:~\:..::::\\'\:",\'\'\'..\: .':: ....:. .....................:....... . ;.........~..:.~...............~:.......:....:.....:..::..~....\..~:...:.:..:...\:..... . ....::...::: ..... . .... :'. ... '. ~ .... . . '.' .' .'. . . . '. . '. . ::::~~~\~\~~~~~~\~~~~~~~~~:~~~~~~~~~~~~~:~~~\: RANCHO R.0.5, Stantec .... . . . . '" . 13 14 DrAY ;:. ~ b :0- "" ~ l'-' "- ,... ;: ~ ====== = II) ~= ="","'" ~ 25 . ". .'. . '. . .... ...... ". .......... ..... ............... ....::..:................................ . ..:...:..............:....................... .... '. . . . . . .... . '. . '. :....:....:............. ...:...........:..................... '.:. . .... :.' .'. '.:.' .......... ....: ". . '.. ". .....:........ . . '. .... . .... .... ". ..........:.........:.....::......:....:......:....:.....:'.:'.' . . . .... .... . . . ...:........:......:............... .... ................... .' ............::.........:......:........... ......: ..... I\.~: M"~' ~ 16504 15 STANTEC CONSULTING INC. 277 RANCHEROS DRIVE SUITE 300 SAN MARCOS. CA 92069 760,891.3200 sI3ntel;.ron OWNERSHIP EXHIBIT LOTS 16, 17, 18, RANCHO OTAY COUNTY OF SAN DIEGO OA TE: 04 0 "2008 01+1>: 163V-EXOn 1 JOB . 160163. 00 1? IW . SHEET: 3 OF 3 EXHIBIT "B" LEGAL DESCRIPTION UNIVERSITY SITE THAT PORTION OF LOT 18 OF OTAY RANCHO, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 862, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, FEBRUARY 7, 1900, AND AS SHOWN ON RECORD OF SURVEY NO. 16504 AS RECORDED IN SAID COUNTY, CONTAINING 50 ACRES, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE MOST NORTHERLY CORNER OF SAID LOT 18 OF OTAY RANCHO, THENCE ALONG THE EASTERLY LINE OF SAID LOT 18 AND THE EASTERLY LINE OF LOT 17 OF SAID OTAY RANCHO SOUTH 18'41'16" EAST, A DISTANCE OF 129.28 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID LINE, SOUTH 18"41'16" EAST, A DISTANCE OF 3952.36 FEET; THENCE LEAVING SAID LINE SOUTH 72'22'53" WEST, A DISTANCE OF 291.33 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTHERLY AND HAVING A RADIUS OF 2063.95 FEET SOUTH 18'41'16" EAST, A DISTANCE OF 3952.36 FEET; THENCE ALONG THE ARC OF SAID CURVE, AN ARC DISTANCE OF 208.02 FEET THROUGH A CENTRAL ANGLE OF 5046'29"; THENCE NORTH 68'32'44" WEST, A DISTANCE OF 13.57 FEET; THENCE NORTH 24'54'50" WEST, A DISTANCE OF 41.94 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE WESTERLY AND HAVING A RADIUS OF 568.49 FEET; THENCE ALONG THE ARC OF SAID CURVE, AN ARC DISTANCE OF 64.89 FEET THROUGH A CENTRAL ANGLE OF 6032'24"; THENCE NORTH 18'22'26" WEST, A DISTANCE OF 2661.09 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTHWESTERLY AND HAVING A RADIUS OF 331.49 FEET; THENCE ALONG THE ARC OF SAID CURVE, AN ARC DISTANCE OF 137.85 FEET THROUGH A CENTRAL ANGLE OF 23049'36",; THENCE NORTH 42'12'02" WEST, A DISTANCE OF 875.51 FEET; THENCE NORTH 08'27'06" EAST, A DISTANCE OF 29.29 FEET; THENCE NORTH 54'25'57" EAST, A DISTANCE OF 149.29 FEET; THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTHERLY AND HAVING A RADIUS OF 1435.96 FEET; O:1160136.00lExhibitsILEGALlleg-163-ex-b.doc Page 1 ~ ~3 2 EXHIBIT "B" LEGAL DESCRIPTION UNIVERSITY SITE THENCE ALONG THE ARC OF SAID CURVE, AN ARC DISTANCE OF 37.92 FEET THROUGH A CENTRAL ANGLE OF 1030'47"; THENCE NORTH 55056'44" EAST, A DISTANCE OF 682.53 FEET; THENCE SOUTH 73020'04" EAST, A DISTANCE OF 35.34 FEET TO THE TRUE POINT OF BEGINNING; DESCRIBED PARCEL CONTAINING: 50.00 ACRES AND AS SHOWN ON ATTACHED EXHIBIT "B". PREPARED BY: -r: /,0 oS D TE O:\160136.00lExhibits\LEGAL\leg_163_ex_b.doc Page 2 of 2 7-33 EXHIBIT "B" o AY VALLE ~I'\l ;Ie ,<GI'r2 "\~v- VICINITY MAP: NOT TO SCALE NOTES: LEGEND: ( ) INDlCAT<S RfC()RD LlA7iI PER ROS 16504 P,O.C. INDlCAT<S POINT OF COMMENCD/ENT T.P.O.B. INDlCAT<S TRUE POINT OF BEGINNING. TOTAL AR60I OF UNIVERSITY SITE PARCEL = 50.00 ACRES INDICAT<S EASEMENT UNE. INDlCAT<S PARCEL UHf. 1) ALL DIMENSIONS SHOWN HEREON ARE COMPIlED F1/OI.t RECORD LlATA. 2) EXlSTING PROPEl?TY AREAS SHOWN HEREON ARE CALCULATED F1/OI.t RECORD LlATA EA~ NOTFS : @ AN EASDlENT TO THE car OF CHUIA lofSTA FOR SLOPE AND DI1AINAGE PURPOSES. RECORDED DECElIBER 28, 2005 AS DOCUMENT NO. 2005-1108994. @ AN EASDlENT FOR GENEI1AL UTII.ITY AND ACCESS PURPOSES TO TIlE car OF CHUIA lofSTA, RECORDED DECElIBER 28, 2005 AS DOCUMENT NO. 2005-1108995- @ AN EASDlENT FOR STORM ORNN PURPOSES TO THE car OF CHUIA 1oISTA, RECORDED DECD/HER 28, 2005 AS DOCUMENT NO. 2005-1108996. DA TE: 04 10 '2008 DHG: 163V-EXOT3 1 JOB 160163.00 STANTEC CONSULTING INC. 277 RANCHEROS DRIVE SUITE 300 SAN MARCOS, CA 92069 760.891.3200 stantse.com UNIVERSITY SITE, OTAY RANCHO CITY OF CHULA VISTA COUNTY OF SAN DIEGO 5tantec EXHIBIT "B" LOT 19 P.O.C. t.lOST NORTHERLY I CORNER LOT l' \,~ t\r;fi'!IJ. r;'S 6B'2- , '- ....-r', \ \ I T.P.O.B. ---I "J 0~ ~ C'f"") \\J DY) ...... l- I-.. \ g I-.. () '" () z -J :J -J ~ '" ~. "'" I!! "! en 1ii < '" O. ~ LOT 18 ~~ LU N'" q... OTA Y RANCHO .,,"" I- ~:;t= ., '" 00 Z "! Ul u; ~5 '" '" --- -30 -<( . 000 '" '" 0::0 .. LUci f' ., > III Z Z ~ "'i- \\J I-.. ,.... () LOT 17 b -J OTA Y RANCHO "'i- -' '" ...... z :J I-.. ~ () '" -J I!! UNE TABLE CURVE TABLE j L2 en < NO. BEARING DIST. NO. DELTA RADIUS LENGTH L1 N7 "22'53" 291.33' C1 5'46'29" 2063.95' 08.02' L2 N88"32' 44"W 1 .57' C2 6'32'24" 568.49' 64.89' L3 N24'54'50"W 41.94' C3 23'49'36" 331.49' 137.85' L4 N08"27'06"E 29.9' C4 1"30'47" 1435.96' 37.92' L5 N54"25'57"E 149.29' SCALE: 1" = 600' L6 N73"20'04"W 35.34' UNIVERSITY SITE, OTAY RANCHO DA TE: 04 10 '2008 STANTEC CONSULTING INC. DI+G: 163V-EXDTJ 1 277 RANCHEROS DRIVE CITY OF CHULA VISTA SUITE 300 JOB 160163. 00 SAN MARCOS, CA 92069 COUNTY OF SAN DIEGO yo. 5tamec 760.891.3200 -.con SHEET.' 2 OF 3 EXHIBIT "B" LOT 19 c)' Q' q... \ \ 66'2-!iS\ ,~t A"tI!i!i"':J6 r;J ~ \ \'"oY) ;0 . ., - , 15ltZ '" on ~ LOT 18 OTA Y RANCHO UNIVERSITY SITE 50.00 ACRES t ., .... 9 '" z :J ~ 0: j!:! ~ '" c<J -. I-- <:) -J j SCALE: 1" = 100' DETAIL 'A' UNE TABLE NO. BEARING DIST. l6 N73'20'04"W 35.34' Stantec STANTEC CONSULTING INC. 277 RANCHEROS DRIVE SUITE 300 SAN MARCOS, CA 92069 760.891.3200 UNIVERSITY SITE, OTAY RANCHO CITY OF CHULA VISTA COUNTY OF SAN DIEGO ""'"'-='" DA TE: 04 0 '2008 D~: 16.JV-EXOT.J-l JOB 160163. 00 SHEET: .J OF .J EXHIBIT "B-1" LEGAL DESCRIPTION THOSE PORTIONS OF SECTIONS 29 AND 30, TOWNSHIP 17 SOUTH, RANGE 1 EAST, S.B.M., ALL IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: THE SOUTHEAST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 30; TOGETHER WITH THE NORTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 30; AND TOGETHER WITH THE WESTERLY 598.81 FEET AS MEASURED PARALLEL WITH THE SOUTH LINE OF SAID SECTION 29 OF THE SOUTHWEST QUARTER OF SAID SECTION 29. AND TOGETHER WITH LOTS 16 OF OTAY RANCHO, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 862, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, FEBRUARY 7, 1900, EXCEPTING THEREFROM THAT PORTION OF LOT 16 CONVEYED TO THE COUNTY OF SAN DIEGO IN DOCUMENT RECORDED FEBRUARY 28, 2006 AS DOCUMENT NO. 2006-0139662. ALL CONTAINING 160.00 ACRES, AS SHOWN ON EXHIBIT "B-1", ATTACHED HERETO AND MADE A PART HEREOF. PREPARED UNDER THE DIRECTION OF: ~~ L,~j :;- JO " . KOEPKE, L.S. 7841 LI SE EXPIRES 12/31/2008 --f/?CJ <'~ DATE 0:\ 160136.00\Exhibils\LEGAL\leg-163-ex-b1.doc 7-37 Page 1 of 1 EXHIBIT "B-1" 8 ~ f}c rf;j{l q;:,,"~ SUBJECT PR.OP. ERTYj ~.'.. .-" ' s... .- "-<. ~ ~~ ~~ '" LEGEND .. . .1 SUBJE:CTPROPERTY, CONTAiNiNG 160.00 AC.:J: EAST H ST. NOTES o TA Y VALLEY ROAD 1. ALL DiSTANCES SHOftN HEREON ARE GROUND DiSTANCES. THE SCALE FACTOR is 0.999999861 AND is BASED ON THE P.O.B. SHOWN. 2. ALL BEARiNGS SHOftN ARE PER R.O.S. 16315. RECORDED 8/27/1999. AS ALE NO. 1999-594396 iN THE COUNTY OF SAN DiEGO. STA 7E OF CALIFORNiA. VICINITY MAP NO T TO SCALE /JI~ t-. ffIf- JOItf.!- KOEPKE, L.s. '841 LIe. EXP. DA TE: 12/31/2008 ~%& VA TE: PREPARED BY: STANTEC CONSULTING INC. 277 RANCHEROS DRIVE SUITE 300 SAN MARCOS, CA 92069 760.891.3200 """"'""'" PORTIONS OF SEC. 29 & 30, TWP. 17S, R. 1E, S.B.M. COUNTY OF SAN DIEGO DA TE: 04 10 '2008 DlK;: 163'1 "X0T2-1 JOB 160163.00 stantec EXHIBIT "B-1" 19 20 30 29 ! -~- CENTeR OF SEC770N 30 30 P.O.B. 'J' O. 'f.' 6 ... " <:>. !Ii' .. ~ ..... - . ft........ ..... . . ~ . n. 'll.... N' <:> ..... ~ ". <t . .' ..' ~ ~ ~ - ~...... - ,!<). !lJ'. -' ~: N88V4'59"W 1J4J.71' .' ." ,., ... '.,- " . ..... 5e1/4. .. '.': NeJ/4 .'. . .. . NS775Y.rW'" 1371.04' '. ... ". ~ . .. . ,. ..... \ . (~'j ..:' . \\J .. .. Ne1/4 5e1/4. N87~7'12"W o.AJ 1348.90' 7 RANCHO JANAL STANTEC CONSULTING INC. 277 RANCHEROS DRIVE SUITE 300 SAN MARCOS, CA 92069 760.891.3200 Stantec ~ F"RAC. SEC. 31 ~ oi ~ - ... ft. "- ~ ~ ." . - .. '" "- .'" ". - ."-' ". .... tl . .;"; ..... ~ .. .' <t N89"J9'12"E 598.81' .200.00' . " - '" "- ~ ~. ._.. .~ ..... .... - ~ tl ;"; ~ ." 30 29 598.81' N89"J912 E 32 PORTIONS OF SEC. 29 & 30, TWP 17S, R.1E, S.B.M. COUNTY OF SAN DIEGO 29 ." .- '" "- ... ... ~ tl ;"; . !'>I ~ OA TC: 04 10 '2008 01+(;: 163'1 EXOT2 1 JOB 160163.00 SHEET.' 2 OF 3 EXHIBIT "B-1" (N71 '58'31 "E 2641.42' CALC'O) ~- - '" ~ '" o. ., '" ... a. N71 '27'S1"E ~ NS8"SS'2S"E N64'54'33"E 233.61' N77'28'33"E 199.06" 86.68' ~ 243.13' NSS"36'~-::::::=-::::::==-- -:::::::::::::::::::-29--1' ' ' ' ' _ . I .1 .6 , '.',',' ',' -' > ' , N66'03'1S"E , N69'59'34~ ' ' ' , :163:57' ' 121:32':', ' ' , ';'6Q'36~3~~E,' ,," , ':179,61, 16 ~ ~ '" .,: o '" '" ~' " ' , , N4D"S4'31'"E. " : ' '9~;96':'" " " " , ' ", ~5:i1'22"E,'" 63;e1.', " , , . N69'OS'2.0"E , ' ,14S.05', . N59~49'02'E q1,:29' () , . ' ,..' g '> ;;l o ~ , ' , ' , ' , . . . , ,,", 'N74'26'47"E,' " 124.04' ' N81:4Q'39"E ' " 234.88" .' , 79'00'1 e~ . 175.72"'" .:. ' " .L3.L4 N79"20'53"E' . : 64.SS" .' .' . L1 N70'2'3e"E 03.94' N76'2e'23"E 148.11' N8S'46'S7"W ~_ 9- 149.41' ~ \\ S!. \\ \\ \\ \\ \ ~ ~ ~ ~ \ ~ " (N71 '22'SS"E 2641.81') N60"37' 4D"E 269.6S' v PORTION OF LOT 16, RANCHO OTAY COUNTY OF SAN DIEGO STANTEC CONSULTING INC, 277 RANCHEROS DRIVE SUITE 300 SAN MARCOS. CA 92069 760.891.3200 Stantec """""""" 15 h' V ===::;::::;- c;; . . . ~Ol ~ ~'g;. N, . .'~ Sl . . ~ "! L5 .() . g '> 8 ~ o .... '" l!:. ~ DA TF: 04 10 '2008 0lM:;: 16JV-FX0T2 1 JOB ' 16016J.00 Yo' SHUT: J OF J EXHIBIT C DEVELOP1'v1ENT AGREE1'v1ENT PROVISIONS 1. Term. The following language shall be added to the end of the last sentence of the fIrst full paragraph of Section 3 of the existing Development Agreement: "from , 20_, the date upon which the City may accept the Offers of Dedication in Sections 3.3 of that certain "Land Offer Agreement" by and between the City and Otay Land Company, LLC, a Delaware limited liability company, approved by the City Council on ,2008." 2. Tentative Mao/Permit Duration. Section 6.2 of the existing Development Agreement, entitled "Length of Validity of Tentative Subdivision Maps," is hereby deleted in its entirety and replaced with the following: "6.2 Tentative Mao/Permit Duration. Pursuant to California Government Code section 66452.6, any tentative subdivision map, parcel map or other map authorized by the State Subdivision Map Act that is approved for the Project shall remain valid for a period of time equal to a term of this Agreement. In addition, notwithstanding any condition or provision to the contrary, every permit and approval for the Project other than ministerial approvals shall remain valid for a period of time equal to the term of this Agreement." 3. Growth Management. The second full paragraph of Section 5.2 appearing at page 8 of the existing Development Agreement, entitled "Development of Property," which begins "Notwithstanding the foregoing," shall be deleted in its entirety and replaced with the following: "Notwithstanding any provision of this Agreement to the contrary, the City's Growth Management program, as set forth in the Growth Management Element of the City's General Plan, applicable to the Project shall be those in effect on the date the City approves the Land Offer Agreement referenced in Section 3 hereof." 4. ModifIcations to Existing Proiect Aoorovals. The following sentence shall be added to the end of Section 5.2.3 of the existing Development Agreement: "The parties agree that they accept the modifications to the Existing Project Approvals approved by the City Council on ,20_." 5. Reimbursement. At the end of the fIrst sentence of Section 7.5 of the existing Development Agreement, entitled "Facilities Which are the Obligations of Another Party, or are of Excessive Size, Capacity, Length or Number," a new sentence shall be inserted as follows: 101071974.2 7-41 101071974.2 "City shall not require such monies or improvements unless City provides reasonable assurance of funding or reimbursement in accordance with State law and/or the City's ordinances." 7-42 / / ! I \ \ 1 ) EXHIBIT "0" OTA Y LAND COMPANY I PARCEL "B" LAND USE PLAN '00 G~APHI~ SCALE: (DHUT) i ~ i. ! I, ~ ~. ----- 4 6 I PARK SCHOOL . COMMUNITr' USE TRANSIT STOP ~ i j I " j~ ii ~i n Ii " " i@ PARCEL B LAND GROSS ACRES DU USE/DISTRICT TC 27,78 306 MUlTO n91 487 M 37,61 380 lM 135.96 627 RE5ERVD1R 21,26 0 DS 25.40 0 319.92 1800 AREA 1i'i1~.~ 3 4 6 TOTALS GROS5 DU/AC 11.0 6.8 10.1 4.6 0.0 0.0 . Stantet 2nRanchamDr.,Suit&300 Sill Marcas.CA1l2069 P: (760l 8S,':I2lJO F: (7110) 891-3201 www.Sl8<1leC.<;Om DATE: 04107/08 ; ; ~ .----- / } ~ I (r~ '\ .~ EXHIBIT "0" OTAY LAND COMPANY PARCEL "C" LAND USE PLAN fa ..._' c:- ',' <~,_. .". . .. '."- fi GRAPHIC SCALE . ... - ... L-.......I --- 3 ( IN m:r l 4 5 - -- __-J / , / I / L/~ ----/// "'""'- "------ - - -- -- -- , i !. ,. ,; :j ~'E o. .^ 11 I. H I' ;;, ~ ii :a h " ,. .1 t! l' -=... n PARCEL C 1- PARK SCHOOL : COMMUN/TY USE ,,- TRANSIT STOP LAND USE/DISTRICT GROSS ACRES DU GROSS DUlAC AR54 23.2 19.8 14.4 11.0 S.4 0.0 EUC 59.30 1375 TC 94.82 1874 MH 31.13 449 M 24.42 269 LM 52.21 283 UNIV 54.70 (1) 0 TOTALS 316.58 4250 (1) SONET ACRES (EXCLUDING ADJACENy!..R!7{ RIGHTS-OF-WA Y) '- 8.Ed ~~ S'<1.~ Z17 RancherosOr.,Sllilll 300 San Mal'COi,CA920ag P: I7GO) S91.3200 (<-(7601691.3201 """,:S18nlec.cam DATE: 04107108 EXHIBIT "E" Ion TO BE PROVIDED AT THE MEETING PER CITY ATTORNEY MOORE 7-45 EXHIBIT E TO AGENDA ITEM #7 (LAND OFFER AGREEMENT BETWEEN THE OTAY LAND COMPANY AND THE CITY OF CHULA VISTA) 7-Lt'-. -I /-' EXHIBIT E Recording Requested by and Please &turn to: / City Clerk City of Chula Vista P.O. Box 1087 Chub Vista, California 91912 This Instrument Benefits City Only No Pee Required This Space for &corder's Use Only APN(s) C.V. File No. IRREVOCABLE OFFER OF DEDICATION OF FEE INTEREST FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, THE OTA Y LAND COMPANY LLC, a Delaware limited liability company ("Owner"), represent tbat, as tbe owner of tbe herein-described real property, hereby makes an Irrevocable Offer of Dedication of fee interest to THE CITY OP CHULA VISTA, A MUNICIPAL CORPORATION ("City"), tbe hereinafter described real property for tbe following public purpose: FOR HIGHER EDUCATION AND RELATED COMPATIBLE USES, ACTIVE PUBLIC RECREATION, QUASI PUBLIC AND ALL OTHER USES INCLUDING RESIDENTIAL USES, INDUSTRIAL AND COMMERCIAL. The property referred to above is situated in tbe City of Chula Vista, County of San Diego, State of California and is more particularly described on Exhibit "A" attached hereto and incorporated herein by this reference tbe ("Property"). This Offer of Dedication is made pursuant to Section 7050 of the Government Code of tbe State of California and tbe terms and conditions of tbat certain Land Offer Agreement by and between Owner and City dated April 7, 2008, which Land Offer Agreement is incorporated herein by reference. This Offer of Dedication may be accepted by tbe City Clerk of tbe City of Chula Vista only in accordance witb tbe Land Offer Agreement. This Offer of Dedication of fee interest shall be irrevocable and shall be binding on tbe Owner, its heirs, executors, administrators, successors and assigns. - 1 - 7 ,/- ). "'-h .~-. "" j--' ..-.I;,."." EXHIBIT E Pursuant to Article 2 of the Land Offer Agreement, following the City's acceptance of this Offer of Dedication, Owner shall retain certain rights to repurchase all or a portion of the Property ("Repurchase Rights") for the term specified in Section 2.1 of the Land Offer Agreement. It is the intention of the parties that the Repurchase Rights shall be covenants running with the land pursuant to applicable law, including, but not limited to Section 1468 of the Civil Code of the State of California. The City and Owner agree that each of the limitations, covenants, conditions, and restrictions contained herein, and as incorporated by reference from the Land Offer Agreement (i) is for the benefit of certain real property described on Exhibit "B" attached hereto and incorporated herein (the "Benefited Property") and is a burden upon the Property, (ii) attaches to and runs with the Property and the Benefited Property, (iii) benefits each successor owner during its ownership of the Benefited Property or any portion thereof, and (iv) is binding upon each successor owner during its ownership of the Property or any portion thereof, and each owner having any interest therein derived in any manner through any owner of the Property or any portion thereof, whether by operation of law or any manner whatsoever. Notwithstanding the foregoing, Owner may elect from time to time, in accordance with the terms of the Land Offer Agreement, by a duly recorded document to remove any portion of the Benefited Property from the benefit of the covenants set forth herein. [SIGNATURES ON FOLLOWING PAGE] - 2 - '''1 ~ /r'S-3 / .~ EXHIBIT E SIGNATURE PAGE TO IRREVOCABLE OFFER OF DEDICATION OF FEE INTEREST IN WITNESS WHEREOF, the parties hereto have executed this Irrevocable Offer of Dedication of Fee Interest on the day and year first set forth above. CITY OF CHULA VISTA, a political subdivision of the State of California OTA Y LAND COMPANY, LLC, a Delaware limited liability company By: Its: By: Curt Noland, Vice President Donna Norris, Interim City Clerk APPROVED AS TO FORM EXECUTED BY Ann Y. Moore, City Attorney Cheryl Cox, Mayor 101086936.1 - 3 - 7~t/5~t./ EXHIBIT E Recording Requested !Jy and Please Return to: / City Clerk City of Chula Vista P.O. Box 1087 Chub Vista, California 91912 This Instrument Benifits City OnlY No Fee Required This Space fOr Recorder's Use OnlY APN(s) C.V. File No. IRREVOCABLE OFFER OF DEDICATION OF FEE INTEREST FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, THE OT A Y LAND COMPANY LLC, a Delaware limited liability company ("Owner"), represent that, as the owner of the herein-described real property, Owner hereby makes an Irrevocable Offer ofDedication offee interest to THE CITY OF CHULA VISTA, A MUNICIP AL CORPORATION, the hereinafter described real property for the following public purpose: OPEN SPACE, MITIGATION, ACTIVE RECREATION AND ANY USES PERMITTED IN ACCORDANCE WITH THE OTAY RANCH GENERAL DEVELOPMENT PLAN The real property referred to above is situated in the City of Chula Vista, County of San Diego, State of California and is more particularly described on Exhibit "A" attached hereto and incorporated herein by this reference ("Property"). This Offer of Dedication is made pursuant to Section 7050 of the Government Code of the State of California and the terms and conditions of that cert:Un Land Offer Agreement dated April 7, 2008, by and between City and Owner ("Land Offer Agreement"). This Offer of Dedication be accepted by the City Clerk of the City of Chula Vista only in accordance with the Land Offer Agreement. This Offer of Dedication of fee interest shall be irrevocable and shall be binding on the Owner, its heirs, executors, administrators, successors and assigns. [SIGNATURES ON FOLLOWING PAGE] - 1 - 7-7'S~ 5" EXHIBIT E SIGNATURE PAGE Signed this day of .2008. OTAY LAND COMPANY, LLC, a Delaware limited liability company By: By: 101087018.1 - 2 - 7~~S-(P EXHIBIT F AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS TO: THIS AGREEMENT OF and entered into between "SELLER"), and "Buyer") . PURCHASE AND SALE AND ESCROW this day of INSTRUCTIONS is made by 'and (hereinafter (hereinafter RECITALS SELLER is the owner of certain real property located in the County of San Diego, State of California, containing approximately 45 acres, as legally described on Exhibit "1" attached hereto ("Property") . AGREEMENT NOW, THEREFORE, in consideration of the covenants and promises contained herein, the parties agree as follows: 1. PURCHASE OF PROPERTY SELLER agrees to sell the Property to Buyer and Buyer agrees to purchase the Property, upon the terms and conditions herein contained. 2. PURCHASE PRICE The purchase price for the Property to be paid by Buyer SHALL BE Dollars ($ ) . 3. TERMS OF PAYMENT OF PURCHASE PRICE The purchase price shall be paid as follows: 4. CONDITIONS PRECEDENT TO CLOSING 7-46 EXHIBIT F 5. ESCROW This Agreement constitutes joint escrow instructions to ___ ("Escrow Holder") instructing it to consummate this sale upon the terms and conditions set forth herein. Escrow Holder shall be concerned with the provisions of this paragraph and the paragraphs and sUbparagraphs below. (a) Opening. Escrow shall open within three (3) days after execution of this Agreement by the parties. (b) Deposit. Upon opening escrow, Buyer shall deposit: (c) Effective Date. The effective date for all time requirements under this Agreement shall be the opening of escrow. (d) Closing Date. This escrow shall close on or before (e) Prorations. All ordinary real property taxes levied or assessed against the Property shall be prorated between Buyer and SELLER on the basis of the latest bills and thirty (30) day month (360 day year) as of the close of escrow. (f) Payment of Costs. The expenses of escrow described herein shall be paid in the following manner: 1. Seller shall pay the full cost of preparing, executing and acknowledging any deeds or other instruments required to convey title to the Property to Buyer, any tax that may be imposed on the conveyance of title to the Property to Buyer under the Documentary Transfer Tax Act of California, and one-half of the escrow fees. 2. Buyer shall pay the cost of recording the Grant Deed or other instrument executed by SELLER conveying title to the Property to Buyer and one-half of the escrow fees. (g) Possession. Possession of the Property shall be delivered to Buyer on close of escrow. 2 7-47 EXHIBIT F 6. NOTICES All notes under this Agreement shall be effective upon personal deliver to SELLER, Buyer, or Escrow Holder, as the case may be, or forth-eight (48) hours after deposit in the United States mail, registered or certified mail, postage fully prepaid, and addressed to the respective parties as follows: To SELLER: To BUYER: To Escrow Holder: or to such other address as the parties may from time to time designate in writing. 7. ACCESS Buyer shall be entitled to reasonable access to the Property at any time prior to the close of escrow for the purpose of making such engineering, surveying, soils, geology and environmental studies as Buyer may reasonably deem necessary, all of which will be completed at no expense to SELLER. Buyer agrees to indemnify and hold SELLER and the Property free and harmless from any and all liens, costs, liabilities or expenses incurred in connection with such engineering, surveying, soils, geology and environmental studies. 8. ATTORNEYS' FEES In any action between Buyer and SELLER seeking enforcement or interpretation of any of the terms or provisions of this Agreement, or in connection with any of the Property described herein, the prevailing party in such action shall be awarded, in addition to damages, injunctive or other relief, its reasonable cost and expenses, not limited to taxable costs, and reasonable attorneys' fees. 1-48 EXHIBIT F 9. ASSIGNMENT Buyer shall have the right to assign this Agreement and the rights and responsibilities under it with the consent of SELLER, which consent shall not be unreasonably withheld. 10. TIME OF ESSENCE Time is of the essence in this Agreement. 11. PERFORMANCE OF ACTS The parties hereto agree to perform documents as may be required to purposes of this Agreement. such acts and execute such carry out the terms and 12. PROPERTY "AS IS" Buyer is relying solely upon its own inspections, investigations and analyses of the Property in entering into this Agreement and is not relying in any way upon any representations, statements, agreements, warranties, studies, reports, descriptions, guidelines or other information or material furnished by Seller or its representatives, whether oral or written, express or implies of any nature whatsoever regarding any such matters. Buyer acknowledges that it has become familiar with the Property and made such independent investigations and analysis as Buyer deems necessary or appropriate concerning Buyer's proposed use, sale and development of the Property. 13. MISCELLANEOUS This Agreement shall be construed in accordance with the laws of the State of California. This Agreement may be executed in counterparts. This Agreement shall be binding upon and shall inure to the benefit of all the parties hereto, their beneficiaries, successors and assigns. Headings at the beginning of each numbered section of the Agreement are solely for the convenience of the parties and are not a part of this Agreement. This Agreement contains all of the agreements of the parties hereto with respect to the matters contained herein and no prlor agreement or understanding pertaining to any such matter shall be effective for any purpose. No provision of this Agreement may be amended or added to except by an agreement in writing signed by the parties hereto or their respective successors in interest. (NEXT PAGE IS SIGNATURE PAGE) 4 7-49 EXHIBIT F SIGNATURE PAGE TO AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS IN WITNESS WHEREOF, Buyer and SELLER have executed this Agreement the day and year first above written. "BUYER" By "SELLER" By Receipt of executed copy of this Agreement is hereby acknowledged this day of By 7-50 EXHIBIT F Legal Description H; \Home\Attomey\OfferPur.l 6 7-51 4-~1 RESOLUTION NO. RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORlZING THE MAYOR TO ENTER INTO A LAND OFFER AGREEMENT BETWEEN THE CITY OF CHULA VISTA AND OTAY LAND COMPANY FOR CONVEYANCE OF 210 ACRES TO THE CITY FOR UNIVERSITY/REGIONAL TECHNOLOGY PARK DEVELOPMENT AND MITIGATION PURPOSES, ACKNOWLEDGING THE OFFERS OF DEDICATION AND ACCEPTANCE OF 1 MILLION DOLLARS FOR UNIVERSITY RECRUITMENT AND PLANNING PURPOSES. WHEREAS, in adopting the Otay Ranch General Development Plan in 1993 the City of Chula Vista formally declared its intent to plan for and pursue an institution(s) of higher learning within it's municipal boundaries; and WHEREAS, the updated City of Chula Vista General Plan in December 2005 recognized the many benefits of a Regional Technology Park, which would be associated with the University(ies); and WHEREAS, under the terms of the proposed Land Offer Agreement, The Otay Land Company would agree to convey 210 acres, 50 of which will be utilized as a portion of the proposed "University / Regional Technology Park Site"; and WHEREAS, under terms of the Land Offer Agreement, the Otay Land Company will provide the City of Chula Vista with 2 million dollars to be utilized for University Recruitment and Land Planning purposes, one million upon execution of this Agreement and one million upon approval of the entitlements. NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does hereby approve the Land Offer Agreement between the City of Chula Vista and Otay Land Company for conveyance of 210 acres to the City for University/Regional Technology Park and associated mitigation purposes, a copy of which shall be kept on file in the Office of the City Clerk. BE IT FURTHER RESOLVED that the Mayor of the City of Chula Vista is hereby authorized and directed to execute said Agreement on behalf of the City of Chula for staff to acknowledge the offer to dedicate 210 acres, and accept one million dollars for university recruitment and planning purposes. Presented by Approved as to form by James D. Sandoval, AICP Director of Planning and Building ~~ Annoore City Attorney C\Documents and Settings\dianav\Local Settings\Temporary Internet Files\OLK29\UNIVERSITY LAND OFFER AGRMNT OT A Y LAND CO.doc 7-52