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HomeMy WebLinkAboutReso 1979-9731_~ Form No. 342 Rev. 9-71 RESOLUTION NO. 9731 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA, APPROVING AGREEMENT BETWEEN THE CITY OF CHULA VISTA AND PALO DEL AMO PROVIDING FOR SECURITY FOR PAYMENT OF PARK AND DEVELOPMENT FEES AND AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT The City Council of the City of Chula Vista does hereby re olve as follows: NOW, THEREFORE, BE IT RESOLVED that that certain agreement be weep THE CITY OF CHULA VISTA, a municipal corporation, and Palo del Am , a limited partnership, providing for security for payment of park an development fees da ed the 28th day of August wh ch is attached hereto and incorporated herein, fu ly set forth herein be, and the same is hereby Vita be, ag Bement 19 79 , a copy of the same as though approved. BE IT FURTHER RESOLVED that the Mayor of the City of Chula and he is hereby authorized and directed to execute said for and on behalf of the City of Chula Vista. Presented by Gec~rge~D. Lindberg, City At Approved as to form by ~, ~~ ~ ey George D indberg, City Attorn ADOPTED AND APPROVED by the CITY COUNCIL of the CITY OF CHULA VI TA, CALIFORNIA, this 21st day of August , 19 79 , by th following vote, to-wit: AYE1S : Councilmen Hyde, McCandliss, Scott NAYIES : Councilmen None Councilmen ~~~~ow, Cox ~ Mayor of the City of Chula Vista ATT ST (~{,~~ eputy City Clerk STA OF CALIFORNIA ) COU TY OF SAN DIEGO ) ss. CIT OF CHULA VISTA ) I~ , City Clerk of the City of Chu a Vista, California, DO HEREBY CERTIFY that the above is a full, true and correct copy of Resolution No. , and that the same has not bee amended or repealed. DATED City Clerk ~" AGREEMENT PROVIDING FOR SECURITY FOR PAYMENT OF PARK AND DEVELOPMENT FEES BY PALO DEL AMO, A LIMITED PARTNERSHIP THIS AGREEMENT, made and entered into this 28th day o August, 1979, by and between THE CITY OF CHULA VISTA, a m nicipal corporation, hereinafter referred to as "City" and N RMAN STARR and CHRISTINA STARR, husband and wife, as to an u divided ninety percent interest; and GARY E. FINE and ROBERTA F NE, husband and wife, as to an undivided ten percent interest, 8 4 Jamaica Court, San Diego, CA. 92109, hereinafter referred to a "Developer"; W I T N E 5 5 E T H WHEREAS, Palo del Amo, a partnership and developer, is t e owner of certain real property in the City of Chula Vista a described in Exhibit "A", attached hereto and by this reference i corporated herein as if set forth in full, and WHEREAS, Developer desires to convert the project 1 Gated upon said property to condominiums comprised of forty ( 0) two and three bedroom apartments located at 54, 64, 74, 84 a d 94 Kingswood Drive, Chula Vista, California 92011, which p oject is known as Palo del Amo and is hereinafter referred to a "Development", and WHEREAS, it has been determined that Developer must p y the sum of SEVENTEEN THOUSAND DOLLARS ($17,000) consisting of N NE THOUSAND DOLLARS ($9,000) in residential construction taxes, a d EIGHT THOUSAND DOLLARS ($8,000) for park land and development f es, and WHEREAS, the final subdivision map for Chula Vista Tract . 79-11, being said Palo del Amo condominium project, will be bmitted for approval by the City Council concurrent with the ceptance of this agreement. NOW, THEREFORE, IT IS MUTUALLY AGREED by and between parties hereto as follows: 1. Developer agrees to pay to the City of Chula Vista he total sum of SEVENTEEN THOUSAND DOLLARS ($17,000) consisting f EIGHT THOUSAND DOLLARS ($8,000) for park and development fees nd NINE THOUSAND DOLLARS ($9,000) for residential construction axes in consideration for the approval of the final subdivision ap authorizing the conversion of those apartment units, owned by eveloper and known as Palo del Amo, to condominium usage. 2. City agrees that the sum of NINE THOUSAND DOLLARS or residential construction taxes must be paid to the City prior o the issuance of any certificates of occupancy for said units n accordance with the provisions of Section 3.32.040 of the hula Vista Municipal Code. 3. City further agrees that the sum of EIGHT THOUSAND OLLARS ($8,000) shall be paid by developer prior to the close f the first escrow in the sale of any condominium units. It s further understood and agreed that said conditions shall be ontained in all escrow agreements entered into by Developer ~~~ -1- Revised 8-22-79 >r the sale of said Palo del Amo units to and until :GHT THOUSAND DOLLARS ($8,000) has been paid to the iat said escrow agreement shall be submitted to the iat said condition has been so included. f. E. the sum of City and City to insure 4. City agrees to reduce the amount of park and develop- m nt fees owed, being EIGHT THOUSAND DOLLARS ($8,000), in exchange f r the value of three ornamental vapor lamps previously installed b Developer at a cost of FIVE HUNDRED DOLLARS ($500) each for a t tal of FIFTEEN HUNDRED DOLLARS ($1500). Therefore, Developer s all be required to pay the sum of SIX THOUSAND FIVE HUNDRED D LLARS ($6,500). 5. If and in the event that Developer should fail to p y to the City the amounts as indicated hereinabove prior to the c ose of any escrow in the sale of said properties, it is understood a d agreed that no certificates of occupancy shall be issued for any o said units in said project. Further, the failure of Developer t pay the sums as required herein on or before December 1, 1979 s all require an interest payment in the amount of one percent (l~) p r month for each month that said fees have not been paid there- a ter. 6. This agreement shall be binding upon and shall inure ~ the benefit and shall apply to, the respective successors and signs of Developer and the City and references to Developer or he City herein shall be deemed to be reference to and include heir respective successors and assigns without specific mention f such successors and assigns. If Developer should cease to have ny interest in the property, all obligations of Developer hereunder hall terminate, provided, however, that any successor of Developer's nterest in the property shall have first assumed in writing the eveloper's obligations hereunder. IN WITNESS WHEREOF, the parties hereto have caused this greement to be executed the day and year first hereinabove set orth. HE CITY OF CHULA VISTA DEVELOPER: VU ayor o t e City of Ch a Vista Norman Starr .TTEST~. ~ ~ ~; City Cle k Christina Starr approved as to form by ~~ CCj ~ ry Fi aty Att ney ~;~ ;~ ~ ~ - / ,y Roberta Fine (Attach Notary Acknowledgment) _2 ..