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2007-562857 11466 TITLE r1o, '-)OC 4 -'0 0 7-0 5 2j.-r' U lll1�ll���lil��III��ll�li I�IiI IlI�1 i:111�llll Ili!Illl fill Recording Request By and AUG 23, 2007 4:42 P When Recorded Mail To: M OFFILIAL RELI-IRD'D I HUN F', kI I FIRDEF!"-. I FF11 I TH 0-JIN I 'RUCIROFF; F F 1F I;Li City Clerk F= 4 City of Encinitas 505S Vulcan Avenue 111i 1h,hill I'll 1111�11 1111i 111111 Hill Encinitas, CA 92024 2007-0562857 FOR THE BENEFIT OF THE CITY) 646, -Vic- SPACE ABOVE FOR RECORDER'S USE ONLY RELEASE OF DEVELOPMENT AGREEMENT This release of Development Agreement is executed by the City of Encinitas ("City") with reference to the following facts: �\� A The City and Carltas Company, a California limited partnership; Paul Ecke Ranch, a California corporation; P.E. III Properties LLC, a California limited liability company; Paul Ecke, Jr. and Elisabeth K. Ecke, both individually and as Co-Trustees under Trust Agreement dated March 7, 1983; North Mesa LLC, a California limited liability company; R.E.L.S., Inc., a California corporation; Charles S. Carter and Ruth Draper Carter, both as Co-Trustees under the Declaration of Trust dated June 2, 1982; Raymond A. Whitwer, an individual; David N. Whitwer, an individual; Craig P. Whitwer, an individual; and Geneen L. Whitwer, an individual (collectively, "Owners") have entered into that certain Development Agreement adopted by the City Council of the City on September 28, 1994 and recorded on December 14, 1994 in the Official Records of the Office of the County Recorder of San Diego County as Document No. 1994-0713677; in relation to which the Owners and the City entered into a Memorandum of Allocation and Indemnity Agreement, which was recorded on December 11, 1995 in the Official Records of the Office of the County Recorder of San Diego County as Document No. 1995-0561223; and assigned to Exchange Resources, Inc., a California corporation, which was recorded on January 31, 2000 in the Official Records of the Office of the County Recorder of San Diego County as Document No. 2000-0050162 and further assigned to Encinitas Ranch Apartments LLC, a California limited liability company, which assignment was recorded on January 31, 2000 in the Official Records of the Office of the County Recorder of San Diego County as Document No. 2000-0050163 (collectively, the "Development Agreement"). B. The Development Agreement encumbers certain real property in the City of Encinitas, California, described in the Development Agreement. The Development Agreement provides that individual residential lots shall be released from the encumbrance of the Development Agreement upon the City's receipt of a certificate of completion of improvements for a lot. 11467 C. The City wishes to release real property described herein, commonly known as San Diego County Assessor's Parcel No. 257-040-46, Encinitas, California, more particularly described on Exhibit A attached hereto and incorporated herein by this reference (the "Released Property"), from the encumbrance of the Development Agreement. NOW THEREFORE, the City hereby agrees as follows: 1. The improvements on the Released Property have been completed and the Released Property is hereby released from any and all of the rights and obligations of the Development Agreement other than land use and affordable housing such that the Released Property shall hereafter be held, leased, encumbered, sold and/or conveyed free and clear of any and all limitations, restrictions, covenants or conditions, easements, rights, benefits or obligations set forth in the Development Agreement except for land use and affordable housing covenants and restrictions. IN WITNESS WHEREOF, this Release of Development Agreement has been executed as of August 22, 2007. City f Encinitas By: P. E. Cotton, City Manager ATTEST: By: 0)0 Deborah Cery t one, C C erk be�tct 11468 EXHIBIT A LEGAL DESCRIPTION LOT 45 OF AMENDED MAP OF CITY OF ENCINITAS MAP NO. 13258, CITY OF ENCINITAS TRACT NO. 94-0666, UNITS I, II AND III, IN THE CITY OF ENCINITAS, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 13333, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, JUNE 3, 1996. ASSESSOR PARCEL NUMBER 257-040-46 11469 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of_ V T/l _6 b ss. On 4UyM Si Al t,2007 , before me, 61N11- FRAlu aS 2,0-n46 IJ07-0-y f uhlf� Date Name and Title of Officer(e.g.,"Jane Doe,Notary Public") personally appeared . L. Comtj ano elauata HinQhaf71 Name(s)of Signer(s) ,personally known to me proved to me on the basis of satisfactory evidence to be the person(s) whose names) is/are subscribed to the within instrument and acknowledged to me that 4FFX:I&3EAL he/she/they executed the same in his/her/their GINA FRANCES ZENNS authorized capacity(ies), and that by his/her/their NOT 1 signature(s) on the instrument the person(s), or the MY 2001� entity upon behalf of which the persons) acted, executed the instrument. WITNESS my hand and official seal. Place Notary Seal AboveI� Signature o otary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: IQE SASE df D�V�LOPrn Eni7 �16R� m✓� Document Date: /� 67-1 "2 Db`7 Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: P E. 6D-rT6 J Signer's Name: -ail Au DI A B16.6HdM X Individual Y Individual ❑ Corporate Officer—Title(s): ❑ Corporate Officer—Title(s): ❑ Partner—❑ Limited ❑ General ❑ Partner—❑ Limited ❑ General _ Attorney in Fact Top of thumb here ❑ Attorney in Fact 7�7 ❑ Trustee ❑ Trustee ❑ Guardian or Conservator ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer Is Representing: :,�,< -. � -: .t.,� �.'7't:.;L` Z,,'r�t'�C,< ',�t�'�`ti,c�;<-` >�i< �;'�-C,<-, •;c1„ ;%;Z`:,`5 ©2004 National Notary Association•9350 De Soto Ave.,P.O.Box 2402•Chatsworth,CA 91313-2402 Item No.5907 Reorder:Call Toll-Free 1-800-876-6827