2013-493530 D O C # 2013-0493530
111111111111111111111111111111111111111111111111111111111 III
FREE RECORDING REQUESTED AUG 06, 2013 4:13 PM
PURSUANT TO GOV. CODE SECTION OFFICIAL RECORDS
27383 SAN DIEGO COUNTY RECORDER'S OFFICE
Ernest J. Dronenburg,Jr.,COUNTY RECORDER
FEES: 0.00
Recording Requested By: PAGES: 20
I City of Encinitas
Planning and Building Department
505 S. Vulcan Avenue
Encinitas, CA 92024
And When Recorded Mail To:
City of Encinitas
Planning and Building Department
505 S. Vulcan Avenue
Encinitas, CA 92024
\� Attn: Housing Administrator
A.P.N. 254-731-02, 06, 08, 11, 18, 23,, 26 & 30
AMENDED AND RESTATED AFFORDABLE HOUSING REGULATORY
AGREEMENT
This Amended and Restated Affordable Housing Regulatory Agreement (hereinafter th(
"REGULATORY AGREEMENT") is made and entered into and is effective as of this \_J
day of July, 2013 by and between the City of Encinitas (hereinafter the "CITY"), and
Shea Homes Limited Partnership, a California limited partnership (hereinafter the
"OWNER").
RECITALS
A. Whereas, the OWNER is the owner of the real property (hereinafter the
"PROPERTY") described in Attachment A, attached hereto and made a part
hereof;
B. Whereas, on June 1, 2006, the Planning Commission of the City of Encinitas
adopted Resolution No. PC 2006-29 that approved Tentative Map #03-090, with
a 69-unit residential subdivision; this subdivision is to be called "Coral Cove";
C. Whereas, the PROPERTY is subject to that certain Affordable Housing
Regulatory Agreement dated June 20, 2007 (the "ORIGINAL REGULATORY
AGREEMENT") that was attached as Exhibit "B" to Document No. 2007-0615432
recorded in the Official Records of the San Diego County Recorder on
September 19, 2007;
US-WEST 803815438.4 1
D. Whereas, on April 21, 2011, the CITY passed and adopted Resolution No. PC
2011-10, which modified Resolution No. PC 2006-29 dated June 1, 2006, which
is referred to in this REGULATORY AGREEMENT as "Approval," and the
applicable timing and manner of satisfaction of affordable housing requirements
as further described herein;
E. Whereas, the OWNER has designated the PROPERTY as the location of the
eight (8) required affordable housing units and the OWNER has agreed to
construct the required affordable housing units (hereinafter, individually "UNIT" or
collectively "UNITS") on the PROPERTY;
F. Whereas, consistent with the Approval, OWNER and CITY wish to terminate the
ORIGINAL REGULATORY AGREEMENT and record in its place this
REGULATORY AGREEMENT; and
G. Whereas, in order to restrict use of the UNITS, the OWNER is bound by this
REGULATORY AGREEMENT and has consented to be regulated and restricted
as provided herein.
NOW, THEREFORE, the parties hereto agree as follows:
1. TERMINATION OF ORIGINAL REGULATORY AGREEMENT.
Upon the execution of this REGULATORY AGREEMENT, the ORIGINAL
REGULATORY AGREEMENT is hereby cancelled, terminated, and the
PROPERTY is thereby released from the same.
2. TERM OF AGREEMENT.
The term of this REGULATORY AGREEMENT shall commence on the date hereof
and shall continue, as to an individual UNIT for 55 years from the first day of the
month after the date that UNIT is occupied by an eligible household as defined
herein.
3. DEVELOPMENT OF THE AFFORDABLE UNIT.
A. OWNER shall construct the new UNITS on the PROPERTY.
B. The exterior appearance of the UNITS shall be compatible with units in the
surrounding neighborhood, including units within TM 03-090. The interior
appearances, finishes, and amenities of the UNITS shall be comparable to
new, affordable units in the City and consistent within all affordable homes
within this community.
C. Prior to the commencement of construction, the quality of materials, floor
coverings, cabinets, fixtures, appliances, doors, and windows shall be
specified in sufficient detail to ensure that the quality level is comparable
US WEST 803815438.4 2
to new affordable units in the CITY or surrounding communities to the
satisfaction of the Planning and Building Director (hereinafter, the
"DIRECTOR").
D. The UNITS shall be constructed and receive certificate of final occupancy no
later than the following: (a) two of the UNITS prior to issuance of the first
certificate of final occupancy for a market rate unit in Phase II; (b) two UNITS
prior to issuance of the first certificate of occupancy for a market rate unit in
Phase III; (c) two UNITS prior to issuance of the first certificate of final
occupancy for a market rate unit in Phase IV; and (d) the remaining two
UNITS prior to issuance of the last certificate of occupancy for a market rate
unit in Phase IV. The anticipated Phases for each of the UNITS are
described in the Phasing Plan attached hereto as Attachment B, as
amended.
E. As authorized by Resolution No. PC 2011-10, two (2) of the UNITS shall be
sold or rented to households with household incomes, adjusted for family
size, at or below sixty percent (60%) of the Area Median Income ("AMI") for
San Diego County, as published periodically by the U.S. Department of
Housing and Urban Development ("HUD"), and six (6) of the UNITS shall be
sold or rented to households with household incomes, adjusted for family
size, at or below eighty percent (80%) of AMI.
F. Occupancy of a UNIT shall be appropriate to the number of bedrooms in the
UNIT. As a general rule and policy, an appropriately sized household is no
less than one person per bedroom and no more than two persons per
bedroom, which is reasonable under the Fair Housing Act and intent of
program assistance.
G. The UNITS shall be provided with patio areas similar to other attached
residences within this community.
H. During the term of this REGULATORY AGREEMENT, a UNIT shall be
utilized for residential use only in accordance with applicable local
ordinances and regulations; any commercial use or transient habitation (of
less than thirty days) is specifically prohibited.
4. OPTION TO RENT OR SELL UNIT.
A. Upon completion of construction of a UNIT, the OWNER shall either rent or
sell the UNIT to an eligible household (as defined in Section 3.E), and in
accordance with the terms and conditions contained herein.
B. OWNER shall make a UNIT available for sale or rent to the general public
through an advertisement in local newspaper(s) for two consecutive weeks.
Applications shall be made available and accepted for a minimum of
fourteen days. The OWNER may employ additional marketing methods that
are in accordance with professional standards of the industry and fair
US-WEST 803815438.4 3
housing laws. The CITY will require documentation of the selection process
and the CITY may additionally advertise the UNIT availability.
C. OWNER is prohibited from renting or selling a UNIT to a family member,
relative, employee, or pre-determined household.
D. OWNER may sell the PROPERTY with the prior written approval of the
DIRECTOR. At the time of said sale, the subsequent owner shall execute a
new Affordable Housing Regulatory Agreement with the CITY. If
construction of the UNIT is not complete at the time of the sale of the
PROPERTY, and the CITY determines the Approval's construction
phasing is not sufficient security given the unique circumstances of the
sale, the CITY shall require the subsequent owner to post a performance
bond or provide other assurances of performance within the construction
schedule identified in the Approval.
5. OPTION TO SELL. Except as provided for in Section 4.D, the following shall
apply to an UNIT that is sold:
A. A UNIT shall only be sold to a qualifying household (as defined in Section
3.E). In addition, the homebuyer must certify that the household will
occupy the UNIT as owner-occupant and principal residence; and that, as
of the Close of Escrow, the household does not own an interest in any
other real property.
B. For any proposed homebuyer, the income of all adult members of the
household must be verified by the OWNER using source documentation
(e.g., tax return, wage statement, bank statement, public benefit
statement)
C. Prior to opening escrow to sell a UNIT, OWNER shall provide CITY with
the proposed homebuyer's income statement and copies of the
documentation of income. The DIRECTOR shall confirm or deny eligibility
based on the documentation provided.
D. The maximum affordable sales price for a UNIT shall be consistent with
State law and be based on a total housing cost (including principal,
interest, taxes, insurance and HOA fee) of thirty three percent (33%) of
gross household income. For the two (2) bedroom UNITS, CITY will
assume a three (3) person household; and, for the three (3) bedroom
UNITS, CITY will assume a five (5) person household.
1) The calculation of the affordable sales price shall include a five
percent downpayment.
US WEST 803815438.4 4
2) The interest rate used in the calculation shall be based on the
current Freddie Mac Monthly Average Commitment Rate on 30-
Year Fixed-Rate Mortgages.
3) Actual financing to be obtained by any prospective homebuyer shall
be a fixed rate loan fully amortized over thirty years.
Prior to the sale of a UNIT, the DIRECTOR shall approve the sales price (as
described in this Section 5.D).
E. Prior to the close of escrow on a UNIT, OWNER shall record deed
restrictions against that UNIT, approved by the DIRECTOR, that restrict
the resale of the UNIT only to other eligible households for the term of the
REGULATORY AGREEMENT. The CITY shall enforce the deed
restrictions by recording a second deed of trust against the UNIT securing
a note; the amount of the note shall be equal to the amount of subsidy
provided by the OWNER (the difference between the market price and the
affordable sales price); or, other determined enforceable document
approved by the CITY.
6. OPTION TO RENT. The following shall apply to any UNIT that is rented:
A. The UNITS shall be rented only to qualifying households (as defined in
Section 3.E). Prior to occupancy, the proposed tenant's household
income must be verified using source documentation for all adult members
of the household (e.g., tax return, wage statement, bank statements,
public benefit statements).
B. The maximum monthly rental rate to be charged for a UNIT shall be
consistent with State law and be based on thirty three percent (33%) of the
applicable percentage of AMI (as defined in Section 3.E) for the appropriate
sized household (divided by 12 months). For the two (2) bedroom UNITS,
CITY will assume a three (3) person household; and, for the three (3)
bedroom UNITS, CITY will assume a five (5) person household. The
DIRECTOR shall approve the maximum rental rate for a UNIT, including the
applicable utility allowance. Rental rate may be adjusted periodically in
accordance with the current AMI schedule (as defined in Section 3.E).
C. OWNER shall maintain tenant files containing information on the
household income and the source documentation used by OWNER to
determine household income. Said files shall be maintained for a period
of three years from the termination of any tenancy. Upon written request,
OWNER shall allow the CITY access to review tenants' files and financial
records for compliance with this REGULATORY AGREEMENT.
US-WEST 803815438.4 5
D. OWNER shall re-certify the tenant's income status every twelve months. In
the event a tenant no longer qualifies as very low-income, the OWNER shall
provide said tenant with the most expeditious eviction notice process, in
accordance with applicable State law.
7. MANAGEMENT AND MAINTENANCE (APPLIES TO RENTAL OPTION ONLY).
A. Any tenant selected to occupy a UNIT shall enter into a written occupancy
agreement or lease with the OWNER. OWNER shall use the standard
lease form published by the California Apartment Association or other
form approved by the DIRECTOR
B. Leases and the landlord-tenant relationship shall be subject to California
law and the provisions of this REGULATORY AGREEMENT. The
OWNER shall establish reasonable rules of conduct and occupancy that
comply with State and local laws and regulations.
C. OWNER is responsible to maintain the leased UNIT in a habitable condition
and in good repair at all times. OWNER is responsible for maintenance
costs, including all repairs, corrections and replacements necessary to
maintain and preserve the UNIT in a safe and sanitary condition in
accordance with the U.S. Department of Housing and Urban
Development's (HUD) Housing Quality Standards (HQS). Upon written
request by the CITY, the OWNER shall provide DIRECTOR or
representative with access to inspect the UNIT for compliance with this
section.
D. OWNER shall obtain, and at all times during the term of this
REGULATORY AGREEMENT shall maintain policies of general liability
and property damage insurance from an insurance company authorized to
be in business in the State of California. The property damage insurance
shall be in an amount sufficient to replace the UNIT in the event of fire or
other major damage. OWNER may self-insure, with the prior written
approval of the DIRECTOR.
E. OWNER may contract with a management agent for the performance of
the services or duties. However, such an arrangement does not relieve
the OWNER of responsibility for proper performance of these duties.
F. OWNER shall make a good faith effort to expeditiously re-rent the UNIT
whenever it becomes vacant. In the event a UNIT is vacant for a period of
more than thirty (30) days, the OWNER shall notify the CITY. If available,
CITY shall provide OWNER with a list of eligible households seeking rental
housing. CITY can extend the affordable housing restriction period for a
UNIT, if that UNIT is not continuously rented (i.e., vacancies of more than 30
days).
US-WEST 803815438.4 6
8. REPORTING REQUIREMENTS (APPLIES TO RENTAL OPTION ONLY).
OWNER shall submit a report to the DIRECTOR immediately after initial lease-up
of a UNIT and annually thereafter, on a form prescribed by the DIRECTOR. The
report shall include information on the household(s) occupying the UNIT during the
prior year, household income, and the amount of rent collected. Whenever
requested by the CITY, the OWNER shall provide source documentation
demonstrating the qualified status of the household(s).
9. NON-DISCRIMINATION.
OWNER shall not discriminate against any prospective tenant or homebuyer on the
basis of race, color, religion, sex, national origin, familial status, disability or other
individuals protected under State and Federal fair housing law.
10. MODIFICATION OF PROPERTY DESCRIPTION.
OWNER may substitute lots that make up the PROPERTY on a one for one basis
provided the substituted lot(s) are also within TRACT NO. 03-090, according to
Map thereof No. 15613 and has/have the same number of bedrooms and
affordability level as the UNIT it/they replace(s). Subject to the CITY staff
administratively determining compliance with the conditions described in this
section, and the requirement that no single six (6) unit complex include more than
three (3) affordable units, the CITY shall effectuate such a change by executing and
recording a document, the form of which is attached hereto and incorporated herein
as Attachment C, that encumbers the new lot(s) with, and releases the old lot(s)
from, this REGULATORY AGREEMENT.
11. CERTAIN ACTS PROHIBITED.
OWNER shall not make any sale, encumbrance (except for a first Deed of Trust
associated with mortgage financing), assignment or conveyance, or transfer in
any other form, of the PROPERTY or of its entire interest therein other than in
accordance with the terms of this REGULATORY AGREEMENT without the prior
approval of the CITY.
12. VIOLATION OF REGULATORY AGREEMENT BY THE OWNER.
In the event of the violation of any of the provisions of this REGULATORY
AGREEMENT by the OWNER, the CITY may give written notice thereof to the
OWNER by registered, certified or overnight mail addressed to the OWNER at
the address stated in this REGULATORY AGREEMENT, or to such other
address as may have been designated by the OWNER, and if such violation is
not corrected to the satisfaction of the CITY within thirty (30) days after the date
such notice is mailed (or within such further time as the CITY, in its reasonable
US WEST 803815438.4 7
discretion, may permit), the CITY may, without further prior notice, declare in
writing a default under this REGULATORY AGREEMENT effective on the date of
such declaration of default, and upon any such declaration of default the CITY
may apply to any court, State or Federal, for specific performance of this
REGULATORY AGREEMENT; for an injunction against any violation by the
OWNER of this REGULATORY AGREEMENT; for the appointment of a receiver
to take over and operate the UNIT in accordance with the terms of this
REGULATORY AGREEMENT; or for such other relief as may be appropriate, it
being agreed by the OWNER that the injury to the CITY arising from a default
under any of the terms of this REGULATORY AGREEMENT would be
irreparable and that it would be extremely difficult to ascertain the amount of
compensation to the CITY which would afford adequate relief, in light of the
purposes of the Density Bonus program.
13. AMENDMENT.
This REGULATORY AGREEMENT shall not be altered or amended except by
writing executed between the parties.
14. SEVERABILITY.
In the event that any provision or covenant of this REGULATORY AGREEMENT
is held by a court of competent jurisdiction to be invalid or unenforceable, then it
shall be severed from the remaining portions of this REGULATORY
AGREEMENT, which shall remain in full force and effect.
15. BINDING ON SUCCESSORS.
This REGULATORY AGREEMENT shall bind, and the benefits thereof shall
inure to, the respective parties hereto, their legal representatives, executors,
administrators, successors in the office or interest, and assigns; provided,
however, that the OWNER may not assign this REGULATORY AGREEMENT or
any of its obligations hereunder, voluntarily or by operation of law, without the
prior approval of the CITY, excluding an assignment to an affiliate. As used
herein, "affiliate" means (i) any entity which has an ownership interest in
OWNER, (ii) any entity in which OWNER holds an ownership interest or (iii) any
person or entity that holds an ownership interest in the PROPERTY.
16. GENDER.
The use of the plural in this REGULATORY AGREEMENT shall include the
singular and the singular shall include the plural; and the use of one gender shall
be deemed to include all genders.
US-WEST 803815438.4 8
17. ELECTION OF REMEDIES: EVENT OF DEFAULT.
The remedies of the CITY hereunder or under any other instrument providing for
or evidencing the financial assistance provided herein are cumulative, and the
exercise of one or more of such remedies shall not be deemed an election of
remedies and shall not preclude the exercise by the CITY of any one or more of
its other remedies.
18. WAIVER.
No waiver by the CITY of any breach of or default under this REGULATORY
AGREEMENT shall be deemed to be a waiver of any other or subsequent breach
or default hereunder.
19. GOVERNING LAW.
This REGULATORY AGREEMENT shall be construed in accordance with and
governed by the laws of the State of California.
20. MORTGAGEE PROTECTION.
No violation or breach of the covenants, conditions, restrictions, provisions or
limitations contained in this REGULATORY AGREEMENT shall defeat, render
invalid or, in any way, impair the lien or charge of any permitted deed of trust
recorded on the PROPERTY provided, however, that any subsequent owner of
the PROPERTY shall be bound by the covenants, conditions, restrictions,
limitations and provisions of this REGULATORY AGREEMENT, whether such
owner's title was acquired by foreclosure, deed in lieu of foreclosure, trustee's
sale or otherwise.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
US WEST 803815438.4 9
21. NOTICES.
Written notices and other written communications by and between the parties
hereto shall be addressed as follows unless and until a party hereto has in
writing, communicated a different address to the other party hereto.
CITY OWNER
City of Encinitas Shea Homes Limited Partnership
505 S. Vulcan Ave. 9990 Mesa Rim Road
Encinitas, CA 92024 San Diego, CA 92121
Attn: Housing Administrator Attn: Dir. of Community Development
IN WITNESS WHEREOF, OWNER has executed this REGULATORY AGREEMENT as
of the day and year first above written.
OWNER
Shea H s Limite Partnership, a California limited partnership
By: Date: 7 ' 13
Its Authorize gent
By: Date: 7
Authorized Agent
(Notarization of signature must be attached)
CITY
City of Encinitas
By: C,µ—� Date: 0-0/
Tom Curriden, City Planner
(Notarization not required)
US-WEST 803815438.4 10
ACKNOWLEDGMENT
State of California
County of San Diego )
On July 17, 2013 before me, Patty Rivas, Notary Public
(insert name and title of the officer)
personally appeared Paul Barnes and John B. Vance
who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s)Ware
subscribed to the within instrument and acknowledged to me thate/they executed the same in
/their authorized capacity(ies), and that by-h+; /their signature(s) on the instrument the
person(s), or the entity upon behalf 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.
WITNESS my hand and official seal. co nT #196 3 0
NOTARY PUBLIC •CALIFORNIA-y+
SAN DIEGO COUNTY
Commission Expires Nov 13,2015
'.•.tiL:•.Y.•N.tiW.Y.'.�:.Lti
Signatur (Seal)
ATTACHMENT A
Legal Description
of the PROPERTY
Lots 41, 45, 47, 50, 57, 62, 65 and 69 of CITY OF ENCINITAS TRACT NO. 03-090
CORAL COVE, according to Map thereof No. 15613, filed with the County Recorder of
San Diego County, California, on September 19, 2007.
US WEST 803815438.4 ATTACHMENT A
ATTACHMENT B
Phasing Plan
[Attached]
US_WEST803815438.4 ATTACHMENT B
1
1
CORAL COVE PHASING PLAN
ta# Al" < : street NA sheet Name pttaditedAI-~othet.:.
Models 58 25443149 1656 Shorebreak Way Attached
Models 59 254-731.20 1660 Shorebreak Way Attached
Models 60 254-731-21 1664 Shorebreak Way Attached
Models 61 254-731-22 1668 Shorebreak Way Attached
Models 62 254-731-23 1672 Shorebreak Way Attached Affordable
Models 63 254-731-24 1676 Shorebreak Way Attached
Models 28 254-730-28 196 Coral Cove Way Detached
Models 29 254-730-29 192 Coral Cove Way Detached
Models 30 254-730-30 188 Coral Cove Way Detached
Phase 1 52 254-731-13 1675 Shorebreak Way Attached
Phase 1 53 25443144 1671 Shorebreak Way Attached
Phase 1 54 254-731-15 1667 Shorebreak Way Attached
Phase 1 55 254-731-16 1663 Shorebreak Way Attached
Phase 1 56 254-731-17 1659 Shorebreak Way Attached
Phase 1 57 254-731-18 1655 Shorebreak Way Attached Affordable
Phase 1 24 254-730-24 212 Coral Cove Way Detached
Phase 1 25 254-730-25 208 Coral Cove Way Detached
Phase 1 26 254-730-26 204 Coral Cove Way Detached
Phase 1 27 254-730-27 200 Coral Cove Way Detached
Phase 1 36 254-730-36 201 Coral Cove Way Detached
Phase 1 37 254-730-37 205 Coral Cove Way Detached
Phase 1 38 2S4-730-38 209 Coral Cove Way Detached
Phase 1 39 254-730-39 213 Coral Cove Way Detached
Phase 46 254-731-07 1699 Shorebreak Way Attached
Phase 2 47 254-731-08 1695 Shorebreak Way Attached Affordable
Phase 48 2S4-731-09 1691 Shorebreak Way Attached
Phase 2 49 254-731-10 1687 Shorebreak Way Attached
Phase 2 50 254-731-11 1683 Shorebreak Way Attached Affordable
Phase 51 254.731.12 1679 Shorebreak Way Attached
Phase 2 1 254-730-01 1653 Tabletop Way Detached
Phase 2 2 254-730-02 1661 Tabletop Way Detached
Phase 2 3 254-730-03 1669 Tabletop Way Detached
Phase 2 4 254-730-04 1677 ITabletop Way Detached
Phase 2 5 2S4-730-OS 1685 Tabletop Way Detached
Phase 6 254-730-06 1693 Tabletop Way Detached
Phase 2 7 254-730-07 1697 Tabletop Way Detached
Phase 3 40 254-731-01 152 Stonesteps Way Attached
Phase 3 41 2S4-731-02 148 Stonesteps Way Attached Affordable
Phase 3 42 254-731-03 144 Stonesteps Way Attached
Phase 3 43 254-731-04 140 Stonesteps Way Attached
Phase 3 44 254-731-05 136 Stonesteps Way Attached
Phase 3 45 2S4-731-06 132 Stonesteps Way Attached Affordable
Phase 3 8 254-730-08 210 Stonesteps Way Detached
Phase 3 9 254-730-09 206 Stonesteps Way Detached
Phase 3 10 254-730-10 202 Stonesteps Way Detached
Phase 3 11 254-730-11 198 Stonesteps Way Detached
Phase 3 20 254-730-20 199 Stonesteps Way Detached
Phase3 21 254-730-21 203 Stonesteps Way Detached
Phase 3 22 254-730-22 207 Stonesteps Way Detached
Phase 3 23 254.730-23 211 Stonesteps Way Detached
Phase 64 254-731-25 133 Stonesteps Way Attached
Phase 65 254-731-26 137 Stonesteps Way Attached Affordable
Phase 4 66 254-731-27 141 Stonesteps Way Attached
Phase 67 2S4.731.28 145 Stonesteps Way Attached
Phase 68 254-731-29 149 Stonesteps Way Attached
Phase 69 254.731-30 153 Stonesteps Way Attached Affordable
Phase 12 254-730-12 194 Stonesteps Way Detached
Phase 4 13 254-730-13 190 Stonesteps Way Detached
Phase 14 254-730-14 186 Stonesteps Way Detached
Phase 4 35 254-730.15 182 Stonesteps Way Detached
Phase 4 16 254-730-16 183 Stonesteps Way Detached
Phase 4 17 254-730-17 187 Stonesteps Way Detached
Phase 18 254-730-18 191 Stonesteps Way Detached
Phase4 19 254-730-19 195 Stonesteps Way Detached
Phase 4 31 254-730-31 184 Coral Cove Way Detached
Phase 4 32 254-730-32 18S Coral Cove Way Detached
Phase 33 254-730-33 189 Coral Cove Way Detached
Phase 4 34 254-730-34 193 Coral Cove Way Detached
Phase 4 35 254-730-35 197 Coral Cove Way Detached
NON RESIDENTIAL LOTS
70 1 254-731-31 160 istonesteps Way i Attached
75 254-731-36 1671 Reef Break Way Park/Tot Lot
76 254-731-37 155 Coral Cove Way Common Open HOA area
US-WEST 803815438.4 ATTACHMENT B
2
ATTACHMENT C
Form of Modification of Property Description
FREE RECORDING REQUESTED
PURSUANT TO GOV. CODE SECTION
27383
Recording Requested By:
City of Encinitas
Planning and Building Department
505 S. Vulcan Avenue
Encinitas, CA 92024
And When Recorded Mail To:
City of Encinitas
Planning and Building Department
505 S. Vulcan Avenue
Encinitas, CA 92024
Attn: Housing Administrator
A.P.N.
MODIFICATION AND RELEASE OF DECLARATION OF COVENANTS
CONDITIONS AND RESTRICTIONS AND REGULATORY AGREEMENT
THIS MODIFICATION AND RELEASE OF DECLARATION OF COVENANTS,
CONDITIONS AND RESTRICTIONS AND REGULATORY AGREEMENT (hereafter
"Declaration") is made as of this day of , 20_, by Shea Homes Limited
Partnership, a California limited partnership (hereafter, "DECLARANT'), in connection
with that certain real property described on Exhibit "A" ("the Released Property") and
that certain other real property described on Exhibit "B" (the "Substitute Property"), both
of which are located in the City of Encinitas ("CITY"), County of San Diego, California.
RECITALS
A. Whereas, DECLARANT is the owner of the Released Property and the Substitute
Property;
B. Whereas, the Released Property is presently subject to a certain Amended and
Restated Declaration of Covenants, Conditions and Restrictions dated July _ ,
2013, and recorded in the Official Records of the County of San Diego on
2013 with document number 2013- (the "CC&R")
and that certain Amended and Restated Affordable Housing Regulatory
Agreement dated July _, 2013, and recorded in the Official Records of the
US-WEST 803815438.4 ATTACHMENT C
1
County of San Diego on 2013 with document number 2013-
(the "REGULATORY AGREEMENT"); and
C. Whereas, upon recordation of this DECLARATION, the CC&R and
REGULATORY AGREEMENT are modified in accordance with the terms set
forth herein.
NOW, THEREFORE, DECLARANT hereby declares, and the CITY hereby agrees as
follows:
1. TERMINATION OF CC&R AND REGULATORY AGREEMENT. Upon
recordation of this Declaration, the CC&R and the REGULATORY AGREEMENT as
they relate to the Released Property are hereby cancelled, terminated, and the
Released Property is thereby released from the same.
2. MODIFICATION OF CC&R AND REGULATORY AGREEMENT. Upon
recordation of this Declaration, the CC&R and the REGULATORY AGREEMENT are
modified to add the Substitute Property as a portion of the PROPERTY, as defined in
those agreements, that is subject to the terms and conditions of the CC&R and the
REGULATORY AGREEMENT.
3. RECORDATION. This Declaration shall be recorded in the Office of
County Recorder of San Diego, California.
4. HEADINGS. The headings used in this Declaration are for convenience
only and are not to be used to interpret the meaning of any of the provisions of this
Declaration.
5. EXHIBITS. Any exhibits referenced herein and attached to this
Declaration are hereby incorporated by reference.
6. BINDING EFFECT. This Declaration shall inure to the benefit of and be
binding upon the successors and assigns of the DECLARANT and the CITY the heirs,
personal representatives, grantees, tenants, successors-in-interest or assigns of the
owners.
US WEST 803815438.4 ATTACHMENT C
2
ACCEPTED AND AGREED
DECLARANT
SHEA HOMES LIMITED PARTNERSHIP, a California limited partnership
By: J. F. Shea LLC, a Delaware limited liability company, its General Partner
By:
Title: Authorized Agent
By:
Title: Authorized Agent
(Notarization of signature(s) must be attached)
ACCEPTED
CITY OF ENCINITAS
By: Date:
Name: Tom Curriden
Title: City Planner
(Notarization not required)
US-WEST 803815438.4 ATTACHMENT C
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STATE OF )
COUNTY OF )
On , before me, , a Notary
Public, personally appeared , who proved to me
on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument, and acknowledged to me that he/she/they executed
the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s)
on the instrument the person(s), or the entity upon behalf 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.
WITNESS my hand and official seal.
Notary Public
STATE OF )
COUNTY OF )
On , before me, , a Notary
Public, personally appeared , who proved to me
on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument, and acknowledged to me that he/she/they executed
the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s)
on the instrument the person(s), or the entity upon behalf 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.
WITNESS my hand and official seal.
Notary Public
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EXHIBIT "A"
LEGAL DESCRIPTION OF RELEASED PROPERTY
Lot of CITY OF ENCINITAS TRACT NO. 03-090 CORAL COVE, according to Map
thereof No. 15613, filed with the County Recorder of San Diego County, California, on
September 19, 2007.
US-WEST 803815438.4 ATTACHMENT C
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EXHIBIT "B"
LEGAL DESCRIPTION OF SUBSTITUTE PROPERTY
Lot of CITY OF ENCINITAS TRACT NO. 03-090 CORAL COVE, according to Map
thereof No. 15613, filed with the County Recorder of San Diego County, California, on
September 19, 2007.
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