2023-7657FREE RECORDING REQUESTED
PURSUANT TO GOV. CODE § 27383
Recording Requested By:
City of Encinitas
Development Services Department
505 S. Vulcan Avenue
Encinitas, CA 92024
And When Recorded Mail To:
City of Encinitas
City Clerk's Office
505 S. Vulcan Avenue
Encinitas, CA 92024
A.P.N: 216-052-0100
DOC# 2023-0007657
III I I I I IIIII IIII IIII IIIII IIII !I II II II IIIII I II III I IIII IIII
Jan 11, 2023 10:22 AM
OFFICIAL RECORDS
JORDAN Z. MARKS,
SAN DIEGO COUNTY RECORDER
FEES: $0.00 (SB2 Atkins: $0.00)
PCOR: N/A
PAGES: 18
REGULATORY AGREEMENT AND DECLARATION OF COVENANTS,
CONDITIONS AND RESTRICTIONS FOR AFFORDABLE HOUSING UNITS
(Affordable Housing Ordinance/Density Bonus)
THIS REGULATORY AGREEMENT AND DECLARATION OF COVENANTS,
CONDITIONS AND RESTRICTIONS FOR AFFORDABLE HOUSING UNITS (hereafter
"REGULATORY AGREEMENT" or "AGREEMENT") is made and entered into and is
effective as of this 2023 by and between the City of Encinitas
(hereafter "CITY") and Vulcan Encinitas, LLC, a Delaware limited liability company (here-
after "OWNER").
RECITALS
A. Whereas, the CITY has adopted an affordable housing ordinance, Encinitas
Municipal Code ("EMC") Chapter 30.41 (hereafter "Affordable Housing Ordinance") to
enhance the public welfare by establishing policies which require the development of
housing affordable to households of very low, low, and moderate incomes, meet the
CITY'S regional share of housing needs, and implement the goals and objectives of the
general plan and housing element, and which requires that a percentage of residential units
that are developed be affordable to very low or low income households;
B. Whereas, the CITY has adopted a density bonus ordinance, EMC §
30.16.020(C) (hereafter "Density Bonus Ordinance") in conformance with state density
bonus law, Government Code §§ 65915 — 65918 (Density Bonus Ordinance and state law
collectively hereafter "Density Bonus Law"). Density Bonus Law allows a density bonus,
concessions, and other regulatory incentives when a developer proposes to provide
affordable housing meeting the standards of Density Bonus Law;
c
C. Whereas, the OWNER is the owner of real property (hereafter "PROPERTY")
located in the City of Encinitas, County of San Diego, California, described in Exhibit A
attached hereto and made a part hereof;
D. Whereas, the CITY approved the development of a housing project (MULTI-
003917-2020; DR-003918-2020; & CDP-003919-2020) consisting of seventy-two (72) units
by City Council Resolution (Reso. 2021-86) on August 25, 2021 (hereafter "PROJECT");
E. Whereas, a total of twelve (12) units located at the PROJECT are subject to
affordable housing requirements (hereafter "AFFORDABLE UNITS" or "UNITS") under the
Affordable Housing Ordinance and/or Density Bonus Law, and the OWNER has agreed to
construct the AFFORDABLE UNITS on the PROPERTY;
F. Whereas, nine (9) AFFORDABLE UNITS are required by the Affordable
Housing Ordinance to be maintained as affordable to LOW-INCOME HOUSEHOLDS in
perpetuity in accordance with EMC § 30.41.060(A)(1) and the remaining three (3)
AFFORDABLE UNITS are to be maintained as affordable to LOW-INCOME
HOUSEHOLDS for fifty-five (55) years from certificate of occupancy in accordance with
EMC § 30.16.020(C)(9).
G. Whereas, in accordance with Density Bonus Law, OWNER acknowledges
and agrees that, in addition to the Density Bonus, OWNER is receiving incentives and
concessions pursuant to and in accordance with the requirements of the State Density
Bonus Law.;
H. Whereas, the OWNER has designated the descriptions and location(s) of the
AFFORDABLE UNITS on Exhibit "B";
I. Whereas, in order to obtain the Density Bonus, the OWNER: (i) has agreed
to restrict the use of the AFFORDABLE UNITS; (ii) agrees that the OWNER and the
PROPERTY are bound by this REGULATORY AGREEMENT; (iii) agrees that this
REGULATORY AGREEMENT shall run with the land and shall be binding upon the
PROPERTY and upon every person having any interest therein at any time and from time
to time during the term of this Agreement; and (iv) has consented to regulation and restriction
of the OWNER and the PROPERTY as provided herein.
NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the parties hereto agree as follows:
1. RECITALS. The foregoing recitals and City Council Resolution No. 2021-86
which was recorded as Document No. 2022-0382747 in the Official Records of the San
Diego County Recorder on September 29, 2022 are a part of this REGULATORY
AGREEMENT.
2. TERM OF AGREEMENT. The term of this REGULATORY AGREEMENT
shall commence on the date hereof and shall continue to govern the PROPERTY and the
AFFORDABLE UNITS thereon for at least fifty-five (55) years for the three (3) units specified
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in Exhibit B as "Density Bonus Affordable Units" and in perpetuity for the nine (9) units
specified therein as "Inclusionary Housing Affordable Units," in accordance with EMC §§
30.16.020(C)(9) and 30.41.100 as applicable, from the date the PROJECT receives a
certificate of occupancy from the CITY.
3. DEVELOPMENT OF THE AFFORDABLE UNITS
A. OWNER shall construct the AFFORDABLE UNITS as defined within Exhibit
B on the PROPERTY. The AFFORDABLE UNITS shall receive final inspection approval
no later than the date that the market -rate units receive final inspection and approval.
Time is of the essence in the occupancy of the AFFORDABLE UNITS.
B. Pursuant to EMC §§ 30.16.020(C)(10)(b) and 30.41.060(A), the exterior
appearance and overall quality of construction of the AFFORDABLE UNITS and the
appearance and landscaping and the availability of amenities for the AFFORDABLE
UNITS shall be comparable to that of market -rate units within the PROPERTY.
C. Pursuant to EMC §§ 30.16.020(C)(10)(b) and 30.41.060(A), 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 exterior appearance and overall quality of construction of the AFFORDABLE
UNITS is comparable to that of market -rate units within PROPERTY and that interior
finishes and amenities are not of substandard or inferior quality, to the satisfaction of the
Development Services Director (hereinafter, the "DIRECTOR"). Such documentation
shall be provided from the OWNER to the CITY prior to the issuance of a building permit.
D. The AFFORDABLE UNIT sizes and bedroom mix shall be as set forth on
Exhibit "B," which the parties acknowledge is proportional to the unit mix and bedroom
count of the market -rate units. AFFORDABLE UNITS shall be dispersed throughout the
PROJECT, on each floor, elevation, and section of the building(s) and throughout the site
pursuant to EMC §§ 30.16.020(C)(10)(c) and 30.41.060(A).
4. GENERAL CONDITIONS
A. OWNER shall only rent AFFORDABLE UNITS to LOW-INCOME
HOUSEHOLDS. LOW-INCOME HOUSEHOLD shall mean a household with household
income that does not exceed the low-income limits applicable to San Diego County as
published annually by the Department of Housing and Community Development under
Title 25 of the California Code of Regulations, Section 6932 (or successor provision),
adjusted for actual household size. Persons who own any other real property do not
qualify as LOW-INCOME HOUSEHOLDS for purposes of this AGREEMENT.
B. OWNER shall advertise the availability of the AFFORDABLE UNITS for a
minimum of two consecutive weeks. The OWNER shall employ marketing methods that
are in accordance with industry standards. The CITY may also advertise the
AFFORDABLE UNITS and provide contact information to interested households. The
advertisements must include the following details: that the AFFORDABLE UNITS are
K
subject to affordability restrictions, set forth the application instructions and deadlines,
contact information, and fair housing statement. OWNER shall utilize an advertisement
template provided by the CITY and the advertisement period shall be for a minimum of
two weeks. OWNER shall not begin the selection process until after the two -week
advertisement period has ended. OWNER shall maintain a record of all interested
households and applications, and shall provide such documentation to the CITY.
C. OWNER shall comply with all applicable State, Federal and local laws,
including but not limited to the Americans with Disabilities Act, Fair Housing Act and
California Fair Employment and Housing Act and shall not discriminate against any
prospective tenant or homebuyer on the basis of race, color, religion, sex, national origin,
familial status, disability, gender, gender identity, gender expression, sexual orientation,
marital status, national origin, ancestry, familial status, source of income, disability,
veteran or military status, or genetic information of that person or any other status
protected under State and Federal fair housing laws.
D. OWNER is prohibited from renting any AFFORDABLE UNIT to OWNER or
any relative (by blood or marriage) of OWNER or any person employed by OWNER or of
any individuals who are members, principals, executives, directors, partners or
shareholders of OWNER or in any entity having an ownership interest in OWNER or in
the Property, or to any pre -determined household. A "pre -determined household" is any
household with a pre-existing relationship with the OWNER, such as a friend, associate,
or any other household that has an existing relationship with the OWNER, or whose
occupancy of the UNIT would decrease its availability to the general public as intended
by DENSITY BONUS LAW.
E. Other than renting or leasing to a QUALIFIED TENANT HOUSEHOLD, as
defined in Section 5.A., below, or a change in ownership of the PROPERTY specifically
allowed by this AGREEMENT, OWNER shall not sell, transfer, allow the possession of,
and/or dispose of any AFFORDABLE UNIT to any person and/or entity, unless the
proposed transferee shall have executed and delivered to the City an express written
assumption of all of OWNER's obligations under this Agreement, on a form reasonably
acceptable to the CITY. Any purchaser of the AFFORDABLE UNITS(s) shall be, and must
agree in writing, to bound by the terms of this AGREEMENT.
F. During the term of this AGREEMENT, the PROPERTY and the
AFFORDABLE UNITS 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.
G. Occupancy of the AFFORDABLE UNITS shall be appropriate to the number
of bedrooms in the AFFORDABLE UNIT. As a general rule and policy, an appropriately
sized household is no less than one person per bedroom, unless a reasonable
accommodation must be made under federal or state fair housing laws.
H. The OWNER has received the regulatory incentives and waivers
acknowledged in Recital G from the CITY under the DENSITY BONUS LAW. The
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OWNER hereby agrees to limit rents and sales prices as provided in this REGULATORY
AGREEMENT in consideration of the OWNER's receipt of the incentives and waivers
acknowledged in Recital G and further agrees that any limitations on rents imposed on
the AFFORDABLE UNITS are in conformance with the Costa -Hawkins Act.
5. QUALIFIED TENANT HOUSEHOLD
A. QUALIFICATION OF ELIGIBLE TENANT HOUSEHOLD
i. Each AFFORDABLE UNIT shall only be rented to a qualifying low-income
household as set forth herein (hereinafter "QUALIFIED TENANT HOUSEHOLD").
ii. The OWNER shall verify the income of all adult members of any proposed
QUALIFIED TENANT HOUSEHOLD. For the purposes of determining the QUALIFIED
TENANT HOUSEHOLD's annual gross income, all adult (eighteen (18) years of age and
over) members of household shall provide recent (within one (1) year) source
documentation to verify income. Source documentation includes, but is not limited to tax
returns, paystubs, wage statements, W2s, bank statements, social security documents, and
employment verification.
iii. OWNER shall provide CITY with any proposed QUALIFIED TENANT
HOUSEHOLD'S recent income qualifying source documentation, including, but not limited
to, tax returns, W2's, paystubs, social security statements, bank statements, etc. The CITY
may require additional documentation to verify eligibility. DIRECTOR shall confirm or deny
eligibility based on the documentation provided.
B. CALCULATION OF AFFORDABLE RENTAL RATE
i. The maximum monthly rent for the AFFORDABLE UNITS shall be calculated
in accordance with California Health and Safety Code Section 50053 and Title 25 of the
California Code of Regulations, Section 6918 (or successor provision), and, in accordance
with these provisions, shall result in housing cost that does not exceed 1 /12 of thirty percent
(30%) of sixty percent (60%) of AREA MEDIAN INCOME, adjusted for assumed household
size.
ii. No additional fees or charges shall be charged to the QUALIFIED TENANT
HOUSEHOLD in excess of the affordable rent.
iii. An allowance for tenant -paid utilities shall be deducted from the maximum
affordable rent. The OWNER shall only use the most current Utility Allowance Schedule,
published by the Encinitas Housing Authority.
iv. The DIRECTOR shall approve the maximum rental rate for the
AFFORDABLE UNITS, including the applicable utility allowance.
6. MANAGEMENT AND MAINTENANCE
G
A. 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.
i. OWNER shall re -certify the QUALIFIED TENANT HOUSEHOLD's income
eligibility every twelve months. If, upon recertification of a QUALIFIED TENANT
HOUSEHOLD's income, the QUALIFIED TENANT HOUSEHOLD's income exceeds the
income for a LOW-INCOME HOUSEHOLD, but the QUALIFIED TENANT HOUSEHOLD's
income does not exceed the AREA MEDIAN INCOME, adjusted for household size, then
the LOW-INCOME HOUSEHOLD shall continue to pay rent as restricted by this
AGREEMENT. In the event that the TENANT HOUSEHOLD's income exceeds AREA
MEDIAN INCOME, adjusted for household size, then the TENANT HOUSEHOLD shall be
given written notice that the TENANT HOUSEHOLD must vacate the UNIT on the later of
the expiration of the TENANT HOUSEHOLD's lease or upon ninety (90) days written notice
to the TENANT HOUSEHOLD.
B. QUALIFIED TENANT HOUSEHOLD shall enter into a written occupancy
agreement or lease with the OWNER, which shall incorporate the provisions contained in
Section 6.A.i above.
i. 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.
ii. OWNER is responsible to always maintain the leased AFFORDABLE UNITS
and the PROPERTY in a decent, safe, sanitary and habitable condition and in good repair.
OWNER is responsible for maintenance costs, including all repairs, corrections, and
replacements necessary to maintain and preserve the AFFORDABLE UNITS in a safe and
sanitary condition in accordance with the U.S. Department of Housing and Urban
Development's (HUD) Housing Quality Standards (HQS) and State Law. Upon written
request by the CITY, the OWNER shall provide DIRECTOR or representative with access
to inspect the AFFORDABLE UNITS and the PROPERTY for compliance with this section.
Failure by the OWNER to maintain the AFFORDABLE UNITS or the PROPERTY shall
constitute a default under this REGULATORY AGREEMENT.
C. 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 AFFORDABLE
UNITS in the event of fire or other major damage. OWNER may self -insure, with the prior
written approval of the DIRECTOR.
D. OWNER may contract with a management agent for the performance of the
services or duties required under this REGULATORY AGREEMENT. However, such an
9
arrangement does not relieve the OWNER of responsibility for proper performance of
these duties. OWNER shall notify the CITY in writing within thirty (30) days of any change
of property management of the AFFORDABLE UNITS and/or PROPERTY.
E. OWNER shall make a good faith effort to expeditiously re -rent the
AFFORDABLE UNITS whenever an AFFORDABLE UNIT becomes vacant. In the event
an AFFORDABLE 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, if the UNIT is not continuously rented (i.e., vacancies of more than thirty (30)
days).
ANNUAL MONITORING. OWNER shall submit a report to the DIRECTOR at initial
occupancy and annually thereafter, on a form prescribed by the DIRECTOR. The report
shall include information on the households occupying the AFFORDABLE UNITS,
including, without limitation, the 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 households occupying the AFFORDABLE
UNITS.
WAITING LIST. OWNER shall maintain a waiting list of eligible households and
inform eligible households when units are available.
7. VIOLATION OF REGULATORY AGREEMENT BY THE OWNER. In the
event of any breach, default or other violation of any of the provisions of this
REGULATORY AGREEMENT by the OWNER, the CITY may give written notice thereof
to the OWNER at the address stated in Section 16 below, 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 discretion, may permit), the CITY
may, without further prior notice, declare in writing a default under this REGULATORY
AGREEMENT and the CITY shall have standing to initiate and pursue any and all actions
or proceedings, at law or in equity, to enforce the provisions of this this REGULATORY
AGREEMENT and/or to recover damages for any default hereunder which remains
uncured, notwithstanding the fact that such damages or the detriment arising from such
a default that remains uncured as aforesaid may have actually been suffered by some
other person or by the public at large. Further, OWNER expressly agrees that injunctive
relief and specific performance are proper pre-trial and/or post -trial remedies hereunder
to assure compliance with this REGULATORY AGREEMENT. Nothing in this Section
and no recovery by the CITY shall restrict or limit the rights or remedies of persons or
entities other than the CITY, against OWNER in connection with the same or related acts
by OWNER, provided that OWNER shall not be subject to duplicate awards or recoveries.
The remedies set forth in this Section are cumulative and not mutually exclusive, except
to the extent that their award is specifically determined to be duplicative by final order of
a court of competent jurisdiction. Further, an award of damages hereunder shall not bar
the exercise of police power or other governmental powers, or the pursuit of criminal, civil
or administrative penalties by the CITY in connection with any default under this
7
REGULATORY AGREEMENT that remains uncured as aforesaid. OWNER
acknowledges that a default under this REGULATORY AGREEMENT that remains
uncured may constitute a violation of state law.
8. ENFORCEMENT. OWNER expressly agrees and declares that the CITY or
any successor public agency is a proper party and shall have standing to initiate and
pursue any and all actions or proceedings, at law or in equity to enforce the provisions
hereof and/or to recover damages for any default hereunder and/or to enforce the terms
of this REGULATORY AGREEMENT. Further, the CITY or any successor public agency
shall be the proper party to waive, relinquish, release or modify the rights, covenants,
obligations, or restrictions contained in or arising under this REGULATORY
AGREEMENT.
9. ATTORNEYS' FEES. In the event of any litigation for the enforcement or
interpretation of this REGULATORY AGREEMENT, whether an action -at -law, arbitration or
any manner of non judicial dispute resolution agreed to by both parties by reason of the
breach of any condition or covenant, representation or warranty in this REGULATORY
AGREEMENT or otherwise arising out of this REGULATORY AGREEMENT, the prevailing
party in such action, arbitration or proceeding shall be entitled to recover from the other
reasonable attorneys' fees to be fixed by the court which shall render a judgment, as well as
the costs of suit.
10. AMENDMENT. This REGULATORY AGREEMENT shall not be altered or
amended except by writing executed between the parties and recorded against the
PROPERTY.
11. 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.
12. BINDING ON SUCCESSORS. This AGREEMENT shall inure to the benefit
of and be binding upon the parties and their respective successors and assigns, heirs,
personal representatives, grantees, and successors -in -interest.
13. COVENANTS TO RUN WITH THE LAND. The covenants contained herein
shall constitute "covenants running with the land" pursuant to Civil Code Sections 1460,
1462, 1463, 1464, 1465, 1467 and 1468, to the extent applicable, and shall bind the
PROPERTY and every person having an interest therein during the term of this
REGULATORY AGREEMENT, including OWNER and its successors, heirs, and assigns.
OWNER agrees for itself and its successors that, in the event that, for any reason
whatsoever, a court of competent jurisdiction determines that the foregoing covenants do
not run with the land, such covenants shall be enforced as an equitable servitude against
the PROPERTY.
14. RECORDATION. This REGULATORY AGREEMENT shall be recorded in
the Office of County Recorder of San Diego, California, senior to all monetary liens. Any
amendments to this REGULATORY AGREEMENT, shall at the expense of the OWNER,
be acknowledged by each of the parties and recoded in the official records of the County
of San Diego.
15. 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.
16. HEADINGS. The headings used in this REGULATORY AGREEMENT are for
convenience only and are not to be used to interpret the meaning of any of the provisions
of this REGULATORY AGREEMENT.
17. LIBERAL CONSTRUCTION. The provisions of this REGULATORY
AGREEMENT shall be liberally construed to effectuate its purpose. Failure to enforce any
provision of this REGULATORY AGREEMENT by the CITY shall not constitute a waiver of
the right to enforce the provision later.
18. NUMBER; GENDER. The singular shall include the plural and the plural the
singular, unless the context requires the contrary; and the masculine, feminine and neuter
shall include the masculine, feminine or neuter, as the context requires.
19. EXHIBITS. Any exhibits referenced herein and attached to this
REGULATORY AGREEMENT are hereby incorporated by reference.
20. 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.
21. GOVERNING LAW. This REGULATORY AGREEMENT shall be construed
in accordance with and governed by the laws of the State of California. Venue shall be
San Diego County.
22. 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.
E
CITY OWNER
City of Encinitas Vulcan Encinitas, LLC
505 S. Vulcan Ave. 5120 Shoreham PI #150
Encinitas, CA 92024 San Diego, CA 92122
Attn: Housing Attn: Vulcan Encinitas, LLC
23. INDEMNIFICATION AND WAIVER. OWNER agrees to defend with attorneys
of CITY's choosing and indemnify the CITY and its agents, elected officials, employees, and
officers, and hold the CITY and its agents, employees and officers harmless from, any
losses, damages, liabilities, claims, actions, judgments, costs, and legal or other expenses
(including attorneys' fees) of every name, kind and description, which the CITY may incur
as a direct or indirect consequence of (i) OWNER's failure to perform any obligations as and
when required by this REGULATORY AGREEMENT; (ii) any failure at any time of any of
the OWNER's representations or warranties to be true and correct; (iii) any act or omission
by the OWNER, any contractor, subcontractor, material supplier, engineer, architect, or
other person or entity with respect to the PROPERTY or the construction, management,
maintenance or operation of the PROJECT; (iv) the presence of hazardous substances at
the PROJECT or on the PROPERTY; or (v) otherwise arising in any way from the
construction, sale, rental or operation of the PROPERTY and/or any of the PROJECT;
provided, however, that OWNER shall not be required to indemnify, defend or hold harmless
any of the Indemnitees from claims, losses, damages, costs and expenses related to the
sole negligence or willful misconduct of the Indemnitees. The duty of the OWNER to
indemnify and hold harmless includes the duties to defend as set forth in Section 2778 of
the Civil Code. OWNER shall indemnify and hold harmless the CITY and its agents, elected
officials, officers, and employees as set forth herein regardless of the existence or degree
of fault or negligence of the OWNER, whether active or passive, primary or secondary.
OWNER's duty to indemnify the CITY shall survive the termination of this REGULATORY
AGREEMENT.
24. ACCEPTED AND AGREED.
OYA0"",
Vulcan Encinitas, LLC, a Delaware limited liability company
By: Wermers Properties, a California corporation, its Manager
Dated DecevA,he.f (I- by
Richard L. Lemmel, Chief Financial Officer
(Notarization of OWNER signature is attached.)
10
CITY OF ENCINITAS:
z o23
Dated byA
Pamela Antil, City Manager
(Notarization of CITY signature is attached.)
Approved as to Form for City:
Dated r Z/ Z/ /'1 Z
(Notarization not required)
by
11
EXHIBIT A
LEGAL DESCRIPTION
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF
ENCINITAS, IN THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, AND IS
DESCRIBED AS FOLLOWS:
ALL THAT CERTAIN REAL PROPERTY SITUATED IN THE COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS:
ALL THAT PORTION OF EATONVILLE, IN THE COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, ACCORDING TO MAP THEREOF NO. 513, FILED IN THE OFFICE OF
THE COUNTY RECORDER OF SAN DIEGO COUNTY MARCH 20, 1888, AND THE
NORTH HALF OF THE SOUTHEAST QUARTER OF THE SOUTHWEST QUARTER
OF SECTION THIRTY-THREE (33), TOWNSHIP TWELVE (12) SOUTH, RANGE FOUR
(4) WEST, SAN BERNARDINO BASE AND MERIDIAN, IN THE COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO UNITED STATES GOVERNMENT
SURVEY, DESCRIBED AS FOLLOWS:
BEGINNING AT THE POINT OF INTERSECTION OF THE TOWNSHIP LINE
BETWEEN TOWNSHIPS TWELVE (12) AND THIRTEEN (13) SOUTH, RANGE FOUR
(4) WEST, WITH THE EASTERLY BOUNDARY LINE OF THE RIGHT OF WAY OF THE
ATCHISON, TOPEKA AND SANTA FE RAILWAY COMPANY, FORMERLY THE
CALIFORNIA SOUTHERN RAILROAD COMPANY, ACCORDING TO THE PROFILE
OF ITS ROAD APPROVED BY THE DEPARTMENT OF THE INTERIOR, MAY 12, 1881,
UNDER THE ACT OF CONGRESS OF MARCH 3, 1875; THENCE NORTH 15° 43' 30"
WEST ALONG SAID EASTERLY LINE OF SAID RIGHT OF WAY A DISTANCE OF
620.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG
SAID EASTERLY LINE OF SAID RIGHT OF WAY NORTH 150 43' 30" WEST A
DISTANCE OF 107.56 FEET TO THE POINT OF INTERSECTION OF SAID EASTERLY
LINE WITH THE SOUTHEASTERLY LINE OF THAT CERTAIN COUNTY ROAD
KNOWN AS COUNTY ROAD SURVEY NO. 346; THENCE ALONG A CURVE
CONCAVE TO THE SOUTHEAST TANGENT TO THE LAST MENTIONED BEARING,
HAVING A RADIUS OF 175 FEET THROUGH AN ANGLE OF 700 12' FOR A LENGTH
OF ARC 214.41 FEET ALONG THE SOUTHEASTERLY LINE OF SAID COUNTY
ROAD; THENCE NORTH 540 28' 30" EAST ALONG THE SOUTHERLY LINE OF SAID
COUNTY ROAD A DISTANCE OF 175.0 FEET TO A POINT; THENCE SOUTH 35° 31'
30" EAST A DISTANCE OF 305.84 FEET TO A POINT; THENCE SOUTH 67° 46' 30"
WEST A DISTANCE OF 386.46 FEET TO THE TRUE POINT OF BEGINNING.
NOTE: THE PROPERTY HEREIN DESCRIBED IS BOUNDED ON THE WEST BY A
ROAD 50 FEET IN WIDTH, DESIGNATED ON VARIOUS MAPS OF RECORD AS
"VULCAN AVENUE", WHICH SAID AVENUE APPEARS TO LIE WITH THE
BOUNDARIES OF THE RIGHT OF WAY OF THE ATCHISON, TOPEKA AND SANTA
FE RAILWAY COMPANY, FORMERLY THE CALIFORNIA SOUTHERN RAILROAD
IN
COMPANY AND THE RIGHTS OF THE PUBLIC IN AND TO SAID VULCAN AVENUE
ARE APPARENTLY SUBSERVIENTTO THE RIGHTS OF SAID RAILWAY COMPANY.
APN: 216-052-01
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AFFORDABLE UNITS
Location and Unit Mix Breakdown Tables
Inclusionary Housing Affordable Units
Unit
Sq.
Bedroom(s)
Quantity # of
% of Total
Affordability
Deed
Type
Ft.
j Affordable
Affordable
Rate
Restriction
Units
Plan
509 —
Studios
4 3
75%
60% AMI
Perpetuity
0-1
510
Plan
621 —
(1x1) 1-
37 4
11 %
60% AMI
Perpetuity
1-1
758
Bedroom
Plan
758 —
(2x2) 2-
26 2
8%
60% AMI
Perpetuity
2-1
1,122
Bedroom
Plan
1,342
(3x2) 3-
5 0
0%
60% AMI
Perpetuity
3-1
-
Bedroom
1,368
r
-
Total
72 9
12.5%
-
-
Density Bonus Affordable Units
Unit
Sq.
Bedroom(s) Quantity # of % of Total
i Affordability
;Deed
Type
Ft.
Affordable Affordable
Rate
Restriction
Units_
Plan
509 —
Studios
4 0 0%
60% AMI
55 Years
0-1
510
Plan
621 —
(1x1) 1-
37 1 3%
60% AN
55 Years
1-1
758
Bedroom
--
Plan
758 —
--
(2x2) 2-
26 1 4%
60% AMI
55 Years
2-1
1,122
Bedroom
Plan
1,342
(3x2) 3-
5 1 20%
60% AMI
55 Years
3-1
-
Bedroom
1,368
Total
72 3 4.2%
m
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