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HomeMy WebLinkAboutOrd. No. 1990-891ORDINANCE NO. 891 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE APPROVING A DEVELOPMENT AGREEMENT WITH PARDEE- GROSSMAN/COTTONWOOD CANYON. WHEREAS, the Planning Commission of the City of Lake Elsinore held a duly noticed public hearing on a proposed Development Agreement between the City of Lake Elsinore and Pardee-Grossman/Cottonwood Canyon on March 14, 1990, and found that the Development Agreement is consistent with the City's General Plan; and WHEREAS, the City Council of the City of Lake Elsinore held a duly noticed public hearing on the Development Agreement on April 24, 1990, and found that (1) the Development Agreement is consistent with the City's General Plan and the Pardee-Grossman/Cottonwood Canyon and (2) the previously certified environmental impact report prepared for the Cottonwood Canyon Specific Plan is adequate and complete for the Development Agreement; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES HEREBY ORDAIN AS FOLLOWS: Section 1. The Development Agreement between the City of Lake Elsinore and Pardee-Grossman/Cottonwood Canyon, as set forth in Exhibit A attached hereto, is hereby approved. The Mayor is authorized to execute the Development Agreement and, following such execution, the City Clerk shall cause a copy thereof to be recorded with the Riverside County Recorder within ten (10) days. Section 2. The City Clerk shall certify to the passage and adoption of this Ordinance and shall cause the same to be published in the manner required by law. This Ordinance shall become effective upon the expiration of thirty (30) days from and after its passage. PASSED UPON FIRST READING this 8 th day of .May_ , 1990 upon the following roll call vote: ~ AYES: COUNCILMEMBERS: BUCK, DOMINGUEZ, STARKEY, WINKLER NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: WASHBURN ABSTAIN: COUNCILMEMBERS: NONE PASSED, APPROVED AND ADOPTED this 2znd day of May, 1990 upon the following roll call vote: AYES: COUNCILMEMBERS: BUCK, DOP4INGUEZ, STARKEY, WINKLER, WASHBURN NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEI~IBERS: NONE ABSTAIN: COUNCILMEMBERS: NONE YVu~ . ,.~..w.. ,, uY., of Lake Elsinore ATTE3To 1 . 0 V"icki I~ nn Kasad, City Clerk City of Lale ~lsinore APPROVED AS TO FORM AND LEGALITY: ~ ~~ John R. H- rper;,~Attorney City of Lake E s' ore STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) SS: CITY OF LAKE ELSINORE ) I, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore, DO HEREBY CERTIFY that the foregoing Ordinance had its first reading on May 8, 1990, and had its second reading on May 22, 1990 and was passed by the following vote: AYES: COUNCILMEMBERS: SUCK, DOMINGUEZ, STARKEY, WASHBURN, WINKLER NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE ABSTAZN: COUNCILMEMBERS: NONE ~ ~~%`~'I VICKI LYNN KASAD, CITY CLERK CITY OF LA E EY~SINORE (SEAL) STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) SS: CITY OF LAKE ELSINORE) I, Vicki Lynne Kasad, City Clerk of the City of Lake Elsinore, DO HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of Ordinance No. 891 of said Council, and that the same has not been amended or repealed. DATED: Ma~y 23, 1990 ~ VICKI LYb` KASAD, CITY C ERK CITY OF LA E ELSINORE (SEAL) i .• , . ,.; DEVELAPMENT AGREEMENT BETWEEN THE CITY OF LAKE ELSINORE AND PARDEE-GROSSMAN/COTTONWOOD CANYON TABLE OF CONTENTS DEVEIAPMENT AGREEMENT BETWEEN THE CITY OF LAKE ELSINORE AND PARDEE-GROSSMAN/COTTONWOOD CANYON Page No. 1. 2 3. 4. 5. 6. 7 PARTIES AND DATE ............................... 1 RECITALS ....................................... 1 2.1 Developer's Interest in Property.......... 1 2.2 Development Agreement Fee ................. 1 2.3 Environmental Report ...................... 2 2.4 Development Approvals ..................... 2 2.5 Approval of Development Agreement......... 2 2.6 Legal Authority ........................... 2 2.7 Consideration ............................. 2 DEFINITIONS ................................... 6 PROPERTY COVERED ............................... 8 INTEREST OF DEVEIAPER .......................... 9 DURATION OF AGREEMENT .......................... 9 6.1 Effective Date and Term ................... 9 6.2 Scheduling .. ............................ 9 6.3 Periodic Review.... .. ................ 10 6.4 Certification of Completion ............... 12 VESTED RIGHT ................................... 12 7.1 Acknowledgment of Vested Right............ 12 7.2 No Conflicting Enactments ................. 13 7.3 Intent of Parties ......................... 13 [Revised 5-7-90] 1 8. GENERAL DEVEIAPMENT OF THE PROJECT ............. 14 8.1 Project .. . . . ... .................... 14 8.2 Phasing of~Developments ................... 15 8.3 Reservations or Dedications ............... 15 8.4 Administrative Changes and Amendments..... 16 9. RULES, REGULATIONS AND OFFICIAL POLICIES....... 17 9.1 Effect of Agreement on Land Use Regulations ............................... 17 9.2 Modified Rules ........................ . 18 9.3 Fees... .... . ..................... 20 9.4 Comparative Evaluation .................... 21 9.5 Subsequent Actions and Approvals.......... 21 9.6 State and Federal Laws .................... 21 9.7 Unforeseen Circumstances ................. 23 I0. COOPERATION AND COVENANT OF FURTHER ASSURANCES. 24 10.1 Third Party Actions ....................... 24 10.2 Further Assurances ........................ 25 10.3 Processing...... ....................... 25 10.4 Governmental Permits.. ............. 26 10.5 Financing of Public Facilities and/or Services... ..................... 26 10.6 Utilities Coordination.. . .... .... 28 10.7 Covenant of Good Faith and•Fair Dealing.... 28 10.8 Stephens Kangaroo Rat ..................... 28 11. PERMITTED DELAYS ............................... 29 I2. ESTOPPEL CERTIFICATES .......................... 29 13. RECORDATION BY CITY CLERK ...................... 30 14. DEFAULT ........................................ 30 14.1 Events of Default ......................... 30 14.2 Default by City ........................... 32 14.3 No Waiver.... . ...................... 32 14.4 Effect of Termination ..................... 32 15. ENFORCED DELAY AND EXTENSION OF TIME OF PERFORMANCE .................................... 33 16. APPLICABI,E LAW ................................. 33 17. NO JOINT VENTURE OR PARTNERSHIP ................ 33 18. ADDRESSES FOR NOTICES .......................... 34 [Revised 5-7-90] ~ ii 19. ASSSGNMENT AND NOTICE .......................... 35 20. ENCUMBRANCES AND RELEASES OF REAL PROPERTY..... 36 20.1 Discretion to Encumber.. ............... . 36 Conveyances.... 20.2 Subordination to Liens and 37 20.3 Entitlement to Written Notice of Default.. 37 21. AFFORDABLE HOUSING ............................. 37 22. CONSISTENCY FINDING ............................ 38 23. CONSENT OF OTHER PARTIES ....................... 38 24. RELEASE ........................................ 39 25. OPERATING MEMORANDA ............................ 39 26. INSTITUTION OF LEGAL ACTION .................... 40 27. INDEMNITY ...................................... 41 28. INSURANCE ...................................... 42 29. TERMS AND CONDITIONS ........................... 42 29.1 Entire Agreement .......................... 42 29.2 Signature Pages ........................... 42 29.3 Time ...................................... 43 EXHIBITS EXHIBIT A: Legal description of the Property EXAIBIT B: City ordinance adopting Specific Plan EXHIBIT C: City ordinance adopting General Plan amendment EXHIBIT D: Conditions of Approval for Specific Plan 88-1 (Cottonwood Hills) EXHIBIT E: Addendum Re: Implementation of Conditions [Revised 5-7-90] , iii 1 2 3 4 5 6 7 8 9 I0 11 12 13 DEVELAPMENT AGREEMENT BETWEEN THE CITY OF LAKE ELSINORE AND PARDEE-GROSSMAN/COTTONWOOD CANYON i. PARTIES AND DATE The parties to this Development Agreement ("Agreement") are the City of Lake Elsinore, California, a municipal corporation and political subdivision of the State of California ("City"), and PARDEE-GROSSMAN/COTTONWOOD CANYON, a general partnership organized and existing under the laws of the State of California ("Developer°). The project to which this Agreement applies is commonly known as Cottonwood Hills. This Agreement is made and entered into on Sulv 9, 1990 with reference to the following 14II facts: 15 16 17~ 181 19 20 21 22 23 24 25 261 27 28 2. RECITALS 2.1 Developer's Interest in Propertv. Developer has an option to purchase certain real property located in the County of Riverside, California, more particularly described in Exhibit °A~p attached hereto and incorporated herein by reference ("the Property"). Developer has an equitable interest in the Property. The Property constitutes approximately 1,968.7 acres of undeveloped land in the western portion of Riverside County. The Property is located between Interstates 15 and 215. 2.2 Development Aureement Fee. Developer has agreed to pay City a development agreement fee equal to $2,000 times the number of residential building permits to be issued to Developer under this Agreement, subject to the credits set forth in this section. 002P3BDA.010 1 [5-9-90] 1 2 3 4 5 6 7 ` 8 9 10' 11 12 13 14 15 16 17 18 191 20 21 22 23 24 25 26 27 28 Developer has agreed to undertake responsibility for construction of Railroad Canyon Road as set forth in this Agreement. City acknowledges that the value to City for such undertaking is at least $1,000 times the number of residential building permits to be issued to Developer under this Agreement. City agrees therefore that Developer is entitled to a credit against the $2,000 per residential building permit fee of $1,000 per ` residential building permit. In light of the foregoing, the parties agree that Developer will pay a development agreement fee to City of $1,000 per residential building permit issued pursuant to this Agreement. Said fee shall be paid at the time of issuance of each building permit. 2.3 Environmental Report. An Environmental Impact Report has been submitted to City in connection with the Specific Plan, General Plan amendment, sphere amendment, City annexation, and Phase 1 Vesting Tentative Map applications. 2.4 Develooment Avbrovals. Developer submitted and City considered and approved a Specific Plan covering all of the Property. The Specific Plan addresses conformance with General Plan policies and objectives and provided the basis for a General Plan amendment enacted by the City. The Specific Plan includes prezoning for the Property and provision for municipal services. On March 14, 1989, the City Council adopted the Cottonwood Hills Specific Plan (S.P. 88-1) by duly enacted ordinance and adopted Conditions of Approval for Specific Plan 88-1 (Cottonwood Hills). On March 14, 1989, the City Council also enacted an amendment to the General Plan consistent with the Specific Plan. Copies of the resolutions of the City Council adopting the Specific Plan 002P38DA.030 2 [5-9-90J 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 ? 17 18 19 20 21 22 23 24 25 : 26 27 28 and the General Plan amendment are attached hereto as Exhibits °B~ and °C.° A copy of the Conditions of Approval For Specific Plan 88-1 (Cottonwood Hillsj is attached hereto as Exhibit °D." Developer has submitted a Vesting Tentative Map for Phase 1 of the Specific Plan which was approved by the City. 2.5 ~~roval of Develonment Agreement. On April 5 , 1990, the Planning Commission of City, after giving notice ~ pursuant to Government Code sections 65854, 65854.5, 65856, and section 17.92.020 of the City of Lake Elsinore Municipal Code held a public hearing on the application for this Development Agreement. The City Council of City, after providing public ~ notice as required by law, similarly held a public hearing on April 24 , 1990. On May p~ , 1990, the City Council of City adopted Ordinance No. gg7 approving the ~ I Development Agreement with Developer and the Ordinance thereafte: took effect on ,n , 1990. 2.6 Leaal Authoritv. California Government Code Sections 65864 et seq. authorize City to enter into binding development agreements in connection with the development of real property within City. This Agreement is made and entered into pursuant to those provisions of state law and local regulations. 2.7 Consideration. (a) Constructing the Cottonwood Hills project pursuant ' to City's Approved Specific Plan will require major investment by Developer in public facilities and on-site and off-site improvements. The Development has been analyzed and reviewed by City as part of its process of granting development approvals in light of the enacted larnl use standards and policies of City OOZP3BDA.030 [5-9-90] 3 i I'~ 1 embodied in its Existing Land Use Ordinances and pursuant to state 2 law, including but not limited to CEQA. City has determined that ' , 3 entry into this Agreement will further the goals and objectives of ' 4 City's land use planning policies by eliminating uncertainty in 5 planning for the orderly Development of the Project so that 6 adequate long term plans regarding the provision of necessary 7 infrastructure for existing and future City residents can be i 8> developed and implemented. Further, the maximum effective '! 9 utilization of resources within City will be pursued at the least 10 economic cost to its citizens. City acknowledges that the Project ~ 11 is and shall be considered a single, integrated development I 12 project, that each phase of the Project is dependent upon the 13 completion and occupancy of each other phase, and that the 14 viability of each phase of the Project is and shall be dependent 15 upon the completion and occupancy of each other phase and the fulll 16 performance of this Agreement. The benefits conferred by ~ 17 Developer herein will facilitate the installation of certain vital 18 public improvements and will help increase traffic capacity for 19 the road system of City, both of which will significantly promote 20 the health, safety and general welfare of existing and future City -21 residents. 22 (b) In exchange for these benefits to City and its 23 residents, City desires to make a commitment to Developer that 24 Developer may proceed to develop the Project in accordance with 25 Existing Land Use Ordinances, and its existing financial and 26 contractual commitments, and at a rate of development of its 27 choosing, subject to the terms and conditions contained in this 28 Agreement. The assurandes`provided by City and Developer to each 002P3BDA.010 4 [5-9-90] 1 other herein and provided pursuant to and as contemplated by 2 statute, were bargained for and given in consideration for the 3 undertakings of the parties, and are intended to be and have bee~ 4 relied upon by the parties to their detriment. 5 (c) City and Developer agree that the amenities and 6 improvements being provided by Developer and others as part of the 7 planning, financing and construction of the project will result in 8 substantial general public benefit. A description of those 9 amenities and improvements is set forth in the Specific Plan, 10 General Plan Amendment, and Conditions of Approval. 11 (d) Because of the complexities of financing an urban 12 infrastructure, certainty in the development process is an 13 absolute necessity. The phasing, timing and development of public 14 infrastructure including community parks, fire station, roads, 15 signals, neighborhood parks, sewer and water facilities, other 16 utilities, and open space maintenance necessitates a significant =17 commitment of resources, planning and effort by Developer in order 18 for the public facilities financing to be successfully completed. 19 Accordingly, City desires to make a commitment for certainty in 24 the development process. 21 (e) City acknowledges that Developer would not enter 22 into this Agreement, and would not consent to annexation of the 23 Property by City, or agree to provide the public benefits and 24 improvements described in this Agreement (which exceed the public 25 improvements Developer would be required to provide as part of the 26 normal subdivision process), if it were not for the agreement of '27 City that the Property can be developed in accordance with j 28 Existing Land Use Ordinaric~s throughout the term of this Agreeme 002P3BDA.030 5 ~ [5-9-907 ~ 1 2 3 41 5I 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27, 28 and the commitment of City in good faith to pursue public infrastructure financing. (f) City acknowledges that it would not be economically' feasible for Developer or any other developer to develop the Property and incur the obligations required, pursuant to this Agreement without having the assurances as provided herein that .Developer will be able to develop the Property consistent with the Specific Plan submitted by Developer and the terms hereof. (g) In consideration for City's entering into this Agreement and the uses permitted herein, Developer agrees that it will comply with all the Conditions of Approval during the time this Agreement is in full force and effect. The parties acknowledge that this Agreement is a material consideration for Developer's aeceptance of the Conditions of Approval. 3. DEFINITIONS 3.1 "Agreement" means this Development Agreement made and entered into by and between the City and Developer in accordance with applicable state laws and local regulations. 3.2 "CEQA" means the California Environmental Quality Act of 1970 (California Public Resources Code Section 21000 et s~.) and the State CEQA Guidelines (California Code of Regulations, Title I 14, Section 15000 et se~c.). ~ 3.3 "City" means the City of Lake Elsinore, including its officials, officers, employees, commissions, committees and ' boards. 3.4 "City Council" means the duly elected City Council of the City of Lake Elsinore.~ 002P3BDA.010 [5-9-90) 6 7 8 9 IO I1 12 13 I4 15 16 17 18 19 20 21 22 23 24 25 26 271 281 3.5 °Developern means PARDEE-GROSSMAN/COTTONWOOD CANYON and its successors in interest to all or any part of the Property. 3.6 NDevelopment° means the improvement of the Property fo2 the purposes of constructing and otherwise effecting the structures, improvements and facilities comprising the Project as set forth in this Agreement, including but not limited to grading, the construction of infrastructure and public facilities related to the Project (whether located within or outside the Property), the construction of structures and buildings and the installation of landscaping. 3.7 °Development Approval(s)H means the Specific Plan, General Plan Amendment, and Conditions of Approval as in effect on the date of this Agreement. 3.8 °Effective Daten means the date described in Section 6.1 of this Agreement. 3.9 °EIRn means an environmental impact report prepared in accordance with the provisions of CEQA. 3.10 "Existing Land Use Ordinances" means the Specific Plan, as in effect on the date of this Agreement, and, to the extent applicable and not inconsistent with the Specific Plan, the City's rules, ordinances, regulations, laws, official policies governing development, density, permitted uses, growth management, environmental considerations and design criteria, taxes and fee programs, including, without limitation, the City's general plan and zoning, subdivision, and building regulations, whether adopted by the City Council or by the voters in an initiative, in effect as of the date of this Agreement. 002P3HDA.010 [5-9-90] 7 1 2 3 41 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 < 27 28 3.11 °Projectn means the development project, as set forth I in the Specific Plan, as in effect on the date of this Agreement. ~ 3.12 °Property° means the real property which is the subject' of this Agreement and is described in Section 4 below. , 3.13 pSpecific Plan° means the Cottonwood Hills Specific Plan (S.P. 88-1). 3.14 °Substantial compliancey for the purposes of this Agreement.and periodic review hereunder means the party has sufficiently followed the terms of this Agreement so as to carry out the intent of the parties in entering into this Agreement. 3.15 The ~exhibitsn to the Agreement are as follows and are incorporated herein as though set forth in full: EXHIBIT A: Legal description of the Property. EXHIBIT B: City ordinance adopting Specific Plan. EXHIBIT C:, City ordinance adopting General Plan . amendment. EXHIBIT D: Conditions of Approval For Specific Plan 88-1 (Cottonwood Hills). EXHIBIT E: Addendum Re Implementation of Conditions. 4. PROPERTY COVERED The property covered by this Agreement is described in i Exhibit °A" attached hereto and incorporated herein by this reference. This Agreement may be amended as provided in paragraph 8.4 to include additional real property owned by Developer provided that any reference herein to Existing Land Use Ordinances' shall, with respect to such additional property, refer to those ' 002P3BDA.010 $ I~ (5-9-90] I 2 3 4 5 6 7 8i 9i 10'~I 11' 12 13 14 15 16 `17 18 19 20 21 22 23 24 25 26~i 27'' 28 land use ordinances in effect upon the effective date of any such amendment. 5. INTEREST OF DEVELAPER Developer represents that it has a legal or equitable interest in the Property and that all other persons presently holding legal or equitable interests in the Property will be bound by the Agreement as of its effective date. 6. DURATION OF AGREEMENT 6.1 Effective Date and Term. The term of this Agreement shall be for twenty (20) calendar years from its effective date. Said term may be extended by the circumstances set forth in Sections li and 15. The effective date of this Agreement shall be the last'`date of (a) adoption by City of an ordinance authorizinc execution of this Agreement; (b) All the Property being formally annexed to the City; and (c) execution of this Agreement by the Parties. 6.2 Schedulinu. Construction of the Project covered by this Agreement will be undertaken following receipt of requisite Development Approvals from City. City'and Developer acknowledge that Developer cannot at this time accurately predict the time schedule within which the Project will be developed, except that it will be completed within the aforesaid twenty (20) year period. So long as the Project is constructed in a manner consistent with the City's Existing Land Use Ordinances as of the date of this Agreement and the Specific Plan, Developer shall have the right construct the Project at~the rate and in the sequence deemed 002P380A.030 [5-9-90] 9 11 2 -3 4 ~ 7 8 9 10 11 12 13~ 14I ' 15 16I 171 18 19 20 21, 22 23 2~ 25 26 ; 27 28 appropriate by Developer within the exercise of its sound business judgment. It is Developer's present reasonable expectation that Development of the Project will be completed within the term of this Agreement. For purposes of this Agreement, completion of the Project shall mean the date on which a certificate of occupancy or comparable instrument is issued for the last improvement or structure constructed pursuant to this Agreement. Following the expiration of the aforesaid twenty (20) year term, this Agreement shall be deemed terminated and of no further force and effect. 6.3 Periodic review. (a) City shall, in accordance with applicable state law, review this Agreement at least once every twelve (12) months from and after the Effective Date hereof. During each such periodic review, City and Developer shall have the duty to demonstrate their good faith compliance with the terms and conditions of this Agreement. Both parties agree to furnish such evidence of good faith compliance as may be reasonably necessary or required. City's failure to review at least annually Developer's compliance with this Agreement shall not constitute or be asserted by either party as a breach of the other party. Such periodic review shall be limited in scope to the compliance, by Developer, with the terms of this Agreement. A finding by City of good faith compliance by Developer with the terms of the Agreement shall conclusively determine said issue up to the date of such finding. (b) City shall deposit in the mail to Developer a copy of all staff reports, and to the extent practical, related exhibits concerning confract performance a minimum of ten (10) 002P3BDA.010 (5-9-90] 10 1 2 3' 4 5 6 ` 7 8 9 10 11 12 I3 14 15 I6 `' 17 18 19 20 21 22 23 24 25 ';26~ 27 I 2al ~ calendar days prior to any such review or action upon the I Development Agreement by City. Upon request by Developer, Developer shall be permitted an opportunity to be heard orally ~ and in writing regarding its performance under the Agreement at ~ any review on the Development Agreement. (c) Developer's duty to demonstrate its good faith compliance may be satisfied by the presentation to City of (1) a I written report identifying Developer's performance or the reasons I! for its non-performance excused pursuant to the terms of this Agreement or (2) oral or written evidence submitted at the time of review. The parties recognize that this Agreement and the documents incorporated herein could be deemed to contain thousands of reguirements (i.e. construction standards, landscape standards et al.), and that evidence of each and every requirement would be a wasteful exercise of the parties resources. Accordingly, Developer shall be deemed to have satisfied its duty when it presents evidence on its good faith and substantial compliance with the major provisions of the Specific Plan and the uses, numher, types, densities, heights and sizes of structures completed and any reservations and dedications to the City. Generali2ed evidence or statements shall be accepted in the absence of evidence that such evidence is untrue. Either party may address any requirement of this Agreement; provided, however, that City shall provide ten (10) days written notice to Developer of any requirement it desires to be addressed. If, at any time of review an issue not previously identified in writing is required to be addressed by City, the review, at the request of 002P3HDA.010 [5-9-90] ii 1 2 3 4 ,' 's i Es 7 8 9 10 11 12 13 14 15 16 17i 1 18 19 20 21 22I 23 24 25 26 27 28 either party, shall be continued to afford sufficient time for analysis and preparation. (d) Developer may seek judicial review of any finding by City of failure by Developer to demonstrate good faith compliance with the terms of the Agreement under this section. Any such legal action shall be commenced in the Superior Court of Riverside County. Zn any judicial proceeding, the court shall r apply the standard of judicial review utilized in cases affecting vesting rights. 6.4 Certification of comoletion. Promptly upon completion of the Project, Developer will submit a draft letter of completion for City review. Upon review, City shall provide Developer with a letter of completion so certifying. This certification shall be a conclusive determination that the obligations of Developer under this Agreement have been met. The certification shall be in such form as will enable it to be recorded in the Official Records of Riverside County, California. ~ 7. VESTED RIGHT 7.1 Acknowledctment of Vested Right. By entering into this I Agreement:and relying thereon, Developer is obtaining a vested right to proceed with the Project in accordance with the Development Approvals and Existing Land Use Ordinances, but subject to any remaining discretionary approvals required in order I to complete the Projects as contemplated by the Development Approvals (which discretion shall be exercised reasonably and in I accordance with the terms of this Agreement). By entering into II this Agreement and relying thereupon, City is securing certain 002P3BDA.010 [5-9-90] 12 11 21 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 public benefits which help to alleviate potential problems in City and enhance the public health, safety and welfare. City therefore agrees to the following: 7.2 No conflicting enactments. Neither the City Council of City nor any other agency of City shall enact an ordinance, policy, rule, regulation or other measure applicable to the I Project which relates to the rate, timing or sequencing of the I development or construction of all or any part of the Project or which is otherwise in conflict with this Agreement. 7.3 Intent of oarties. In addition to and not in limitation of the foregoing, it is the intent of Developer and City that no moratorium or other limitation (whether relating to the rate, timing or sequencing of the development or construction of all or any part of the Project and whether or not enacted by initiative or otherwise) affecting parcel or subdivision maps, building permits, site development permits, special use permits, a~cupancy certificates or other entitlements to use approved, issued or granted within City, or portions of City, shall apply to the Project to the extent such moratorium or other limitation is in conflict with this Agreement. Notwithstanding the foregoing, should an ordinance, general plan or zoning amendment, measure, moratorium, policy, rule, regulation or other limitation enacted by citizens of City through the initiative process be determined by a court of competent jurisdiction to invalidate or prevail over all or any part of this Agreement, Developer shall have no recourse against City pursuant to this Agreement, but shall retain all other rights, claims and causes of action at law or in equit . which Developer may have~under this Agreement and independent of 002P38DA.030 [5-9-90) 13 1 2 3 4 5 6 7 8 9 10 11 '12 13 14 15 16 17 18 19 20 21 22~ 23 24 25 26 " 27 28 this Agreement. The foregoing shall not be deemed to limit Developer's right to appeal any such determination of such ordinance, general plan or zoning amendment, measure, ploy, rule, regulation, moratorium or other limitation which purports to invalidate or prevail over all or any part of this Agreement. City and Developer agree to cooperate in all reasonable manners 'in order to keep this Agreement in full force and effect. 8. GENERAL DEVELOPMENT OF THE PROJECT 8.1 Proiect. While this Agreement is in effect, Developer shall have a vested right to develop the Project in accordance with the terms and conditions of this Agreement, and in accordance with, and to the extent of the Development Approvals. Except as otherwise specified in this Agreement, the Development Approvals `shall control the overall design, development and construction of the Project and all on-site and off-site improvements and appurtenances in connection herewith, including, without limitation, all mitigation measures required in order to minimize or eliminate material adverse environmental impacts caused by the Project. The permitted uses of the Property, the density and 'intensity of use, the maximum height and si2e of proposed buildings, the provisions for reservation and dedication of land for public purposes and other terms and conditions of development applicable to the Property shall be those set forth in this Agreement and the Development Approvals or as may otherwise be mutually agreed upon by the parties. The Project shall be configured generally as indicated on the Specific Plan. The location of the improvements shall be generally as indicated on 002Y38DA.030 14 [5-9-90] II 21 3~ 4 5 6 7 81 9 IO 11 12 131 14 15 16 I7 18 19 20 21 22 23 24 25 26 27 28 the Specific Plan; provided, however, that the Specific Plan placement and location of improvements including common area facilities, roadways and landscaping as shown on said plan is descriptive only and may be varied, amended, changed or modified at the election of Developer, with approval of the Community Development Director, in accordance with the applicable provisions of the Existing Land Use Ordinances. Such right of approval is to ensure compliance with the Specific Plan, and to ensure that amendments to the Specific Plan do not adversely affect compatibility with offsite improvements. The number of residential units actually constructed in any planning unit may vary in accordance with the provisions of the Specific Plan. 8.2 Phasina of Develooments: The construction of improvements and development of the Property may be accomplished at the times and in the phases or increments which are selected 1 Developer. No moratoriums or ordinances imposing limitations on the number of building permits which may be issued by City shall apply to the Property unless a finding is made in accordance with i, ~ Section 9.7. City specifically acknowledges that Developer's ' discretionary control over timing and phasing of construction is a major consideration being provided to Developer under this , Agreement, and such discretionary control over timing and phasing of construction is a vested right provided to Developer under this ' Agreement. ' 8.3 Reservations or Dedications: Reservations or I dedications of portions of the Property are set forth on the Phase I Vesting Tentative Map which will be approved, as described in the Recitals set forth akiove. Other reservations or dedications 002P3BDA.010 1 5 [5-9-90~ ll 2I 3~ 4~ i 51 6 7 8 9 10 11 12 13 14 15 16 17 18 19'. 20 21 22 23 24 25 26 27 28 of portions of the Property may, from time to time, be required by City in accordance with or as part of subdivision map approvals for the remainder of the Property. Said reservations and dedications are to be imposed in accordance with Existing Land Use Ordinances. For the purposes of this Section 8.3 and the Vesting Tentative Map relating to Phase I of the project, any >reference to the ~dedicationM or ~reservation° of land shall be ~ construed to include the acquisition of such land by a Mello-Roos Community Facilities District, or other financing district at a ~ purchase price equal to the fair market value thereof. I Accordingly, all park and other sites to be "dedicated" or ~°reserved" to the City pursuant to the Vesting Tentative Map I relating to Phase I of the project or this Section 8.3, may be purchased by a, Community Facilities District (or other financing `district) formed over property owned by the Developer to the extent funds are legally available for such purpose. 8.4 Administrative changes and amendments. This Agreement may be amended from time to time by mutual consent of the parties in the same manner as its adoption by ordinance. The parties acknowledge that refinements and further development of the Project may demonstrate that changes are appropriate with respect to the details and performance of the parties under this Agreement. The parties desire to retain a certain degree of flexibility with respect to the details of the Project development and with respect to those items covered in general terms under this Agreement. If and when the parties find that changes or adjustments are necessary or appropriate, they shall, unless otherwise required by lai~r, effectuate such changes or adjustments 002P38DA.010 [5-9-90] 16 1 2 7 8 9 IO 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 281 through administrative amendments approved by the City Director of Community Development, which, after execution, shall be attached hereto as an addendum and become a part hereof, and may be further changed and amended from time to time as necessary, with approval by City and Developer. Any such administrative changes or amendments shall not be deemed to be an amendment to this Agreement under Government Code Section 65868. Unless otherwise required by law, no such administrative amendments shall require notice or hearing. Notwithstanding the foregoing, the following matters shall not be considered administrative changes or amendments, but shall be considered substantive amendments which shall be reviewed by the Planning Commission and approved by the City Council: (a) Alteration of the permitted uses of the Property; >'(b) Increase in the density or intensity of use or number of lots; (c) Increase in the maximum height and size in permitted buildings; (d) Deletion of a requirement for the reservation or dedication of land for public purposes except for minor boundary adjustments approved by the Planning Di~rector; and (e) Any amendment or change requiring a subsequent or supplemental Environmental Impact Report pursuant to Public Resources Code Section 21166. 9. RULES, REGULATIONS AND OFFICIAL POLICIES 9.1 Effect of aareement on land use reaulations. The rule; regulations and official~~policies governing permitted uses of tht 002Y3BDA.010 [5-9-9U] 17 1 2 3~ 4 5 6 7 8~ 9I 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 281 Property, the density and intensity of use of the Property, the maximum height and size of proposed buildings and the design, improvement and construction standards and specifications applicable to development of the Property are those rules, regulations and official policies in force as of the Agreement Date set forth in the Specific Plan, and City agrees that during the term of this Agreement, Developer shall have the right to develop the Property in any manner consistent with the Specific Plan and,said rules, regulations and official policies. In connection with any approval which City is permitted or has the right to make under this Agreement relating to the Project, or otherwise under the Existing Land Use Ordinances, City shall exercise its discretion or take action in a manner which is as diligent as possible and which complies and is consistent with the i Development Approvals and the standards, terms and conditions I contained in this Agreement, and in a manner which will not interfere with the development of the Project for these uses, and to the height, density and intensity specified in this Agreement, or with the rate of development selected by Developer. City shall accept for processing and normal timely review and act on all applications for further land use entitlement approvals with respect to the Project called for or required under this Agreement. Such application shall be processed in the normal manner for processing such matters. 9.2 Modified Rules. City may, during the term of this Agreement, apply only such newer, modified rules, regulations, ordinances, laws, general or specific plans, and official policies which are not in conflic~ with those in effect on the date of this 002P3BDA.010 [5-9-907 18 1 2 3 4 5 6 7 8 91 10 11 12 13 I4 15 16 17 18 19 20 21 22 23 24 ` 25 ' 26 27I 28 ' Agreement; provided that such application shall not prevent development in accordance with Sections 8.1 and 8.2 above. However, this section shall not preclude the application to development of the Property of changes in City laws, regulations, plans or policies specifically mandated and required by changes in state or federal laws or regulations. In the event such changes in state or federal laws prevent or preclude compliance with one or more provisions of this Agreement and implementation of the Specific Plan, the parties agree to take appropriate action pursuant to Section 9.6 of this Agreement. This Agreement shall not prevent City from applying the following new rules, I regulations and policies: (a) Processing fees and charges imposed by City to cover the estimated actual costs to City of processing applications for development approvals, for monitoring complianc with any development approvals, or for monitoring compliance with environmental impact mitigation measures. (b) Procedural regulations relating to hearing bodies, petitions, applications, notices, findings, records, hearings, reports, recommendations, appeals and any other matter of procedure. (c) Regulations governing construction standards and specifications including, without limitation, the City~s Building Code, Plumbing Code, Mechanical Code, Electrical Code and Fire Code provided that such construction standards and specifications are applied on a City-wide basis. (d) Regulations which are not in conflict with the Development Approvals or this Agreement. OOZP3BDA.010 IS-9-90] 19 1 2 3 4 r. 6 7 8: 9 10 11 12 13 14 15. 16 17 18 19 20 21 22 23 24 25 26 27 28 (e) Regulations which are in conflict with the Development Approvals or this Agreement if such regulations have been consented to in writing by Developer. 9.3 ees. Any application, processing and inspection fees, building codes or construction standards and specifications, now ..existing or hereafter in existence, shall apply to development pursuant to this Agreement; provided that: (i) such fees, standards and specifications are applicable to all applications for construction or building permits for private projects in the ! City or apply to all public works within the City and (ii) their application to the development of the Property is prospective only as to applications for building and other development permits or approvals of tentative subdivision maps not yet accepted for processing; and (iii) their application shall not prevent development in accordance with sections 8.1 and 8.2 of this Agreement. City shall not impose, in any form, any development impact fee upon Developer or the Property other than those specific fees described in Exhibit "E" to this Agreement, entitled Addendum Re Implementation of Conditions. City shall not increase any fee described on Exhibit "En from the amount of the fee set forth on Exhibit °E." A development impact fee shall be considered to be any direct or indirect fee, charge or assessment based upon or arising from the impact or effect of any development of the Property upon City, including, but not limited to, its infrastructure, facilities, or roadways, or upon the need for capital improvements or maintenance caused by any development of the Property. 002P3HDA.Olo 2 0 [5-9-90] 9.4 ComDarative Evaluation. City agrees not to apply any 5 6 7 8 91 10 11 12 I3 141 15 16 17 '18 19 20 21 22 23 24 25 ' 26 27 28 comparative evaluation of Developer's proposed development of the Property with a proposed development of any other project of any developer in connection with issuance of building permits or other approvals for development of the Property. 9.5 Subsequent actions and approvals. In accordance with Government Code Section 65866, this Agreement shall not prevent City in subsequent actions applicable to the Property from applying new rules, regulations and policies which do not conflict with those existing rules, regulations and policies set forth in the Development Approvals, nor shall this Agreement prevent City from denying or conditionally approving any subsequent development project application not subject to this Agreement on the basis of such existing or new rules, regulations or policies. 9.6 State and federal laws. (a) In the event that state or federal laws or regulations, enacted after this Agreement is executed, prevent or preclude compli~nce with one or more of the provisions of this Agreement, such provisions of this Agreement shall be modified or suspended as may be necessary to comply with such state or federal laws or regulations; provided, however,` that this Agreement shall remain in full force and effect to the extent it is not inconsistent with such laws or regulations and subject to the following provisions: In the event that State or Federal laws or regulations enacted after this Agreement have been entered into or the action or inaction of any other affected governmental jurisdiction prevent or preclude compliance with one or more provisions of this Agreement or require changes in plans, maps o. 002P3BDA.010 2 1 [5-9-90] ll 2~ 3I 4 ~ b 7 81 permits approved by City (including a court decision affecting the validity of development agreements pursuant to Government Code Section 65864 through 65869.5), the parties shall: (1) provide the other party with written notice of such state or federal restriction, provide a copy of such regulation or policy and a statement of conflict with the provisions of this Agreement; and (2) promptly meet and confer with the other party in good faith and reasonably attempt to modify or toll this Agreement to comply 9 with such federal or state law or regulation in a manner 10 consistent with the intent and objectives of this Agreement, to 11 the extent feasible. 12 (b) Thereafter, regardless of whether the parties reach i 13 agreement on the effect of such federal or state law or regulation 14 upon this Agreement, the matter shall be scheduled for hearing ~ 15 before the Council, ten (10) days written notice of such hearing ;i 16 shall be provided to Developer, and the Council, at such hearing, ~ i 17 shall determine the exact modification or tolling which is 18 required by such federal or state law or regulation. Developer, 19II at the hearing, shall have the right to offer testimony. Any 20II modification or tolling shall be taken by the affirmative vote of 21II not less than a majority of the authorized voting members of the 22 Council. Any suspension or modification may be subject to I 23 judicial review in conformance with this Agreement. 28 24 Notwithstanding the above, this Agreement is deemed to be a valid 25 and legitimate exercise by City of its police power to provide 26 for future public improvements and facilities for the benefit of 27 the health, safety and welfare of City. OOZP3BDA.010 [5-9-90] 22 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 "17 '18 19 20 21 22 23 24 25 `''' 26 27 28 9.7 Unforeseen Circumstances: If, as a result of facts, events or circumstances presently unknown, unforeseeable and which could not have been known to the parties to this Agreement, City ~ determines that the health and safety of City requires the I modification, suspension or termination of this Agreement, City shall (1) notify Developer in writing of (a) City~s determination, (b) the reasons for City's determination and all facts upon which such reasons are based, and (c) forward to Developer ten (10) days prior to the hearing referred to below all documents relating to such determination and reasons therefor; (2) notify Developer, in writing, at least ten (10) days prior to the date, the time and place of the hearing; and (3) hold a hearing at which Developer shall have the right to offer witnesses, reports and testimony, and further have the right to examine witnesses, City staff or ' other persons; and (4) make a finding that, based upon clear and convincing evidence, it has been established that: (a) The circumstances were unknown, unforeseeable and could not have been known; (b) The health and safety of the community require the suspension, modification or termination of the Agreement as opposed to any other alternative; and (c) City to the extent feasible has provided Developer with an equitable program to reimburse to Developer unused fees, and provide equitable reimbursement for dedications or improvements not required by the extent of development as of the date of such suspension, modification or termination. In the event the City Council should fail to make such findings then this Agreement shall not be so terminated, modified or suspended; and in the event the City Council should make such-~findings, Developer shall have the right 002P3BDA.030 2 3 [5-9-90] 1 2 3 411 91 IO 11 12 13 14 15 16 17 18 19 20 21 22 23 24i 25I 26 27 28 to file an action in the Superior Court, County of Riverside, challenging said findings. The Superior Court shall utilize the standard of review applicable in cases involving vested rights. The unforeseen circumstances, which shall cause the operation of •this provision shall not be the result of changes in State or Federal law. In the event of changes in State or Federal law, the provisions of Section 9.6 shall govern. 10. COOPERATION AND COVENANT OF FURTHER ASSURANCES 10.1 Third vartv actions. Developer and City shall cooperate in defending any action or proceeding instituted by any third party challenging the validity of any provision of this ,Agreement or any action taken or decision made hereunder. Developer agrees to assume the lead role in the defense of any such action or proceeding so as to minimize litigation expenses incurred by City. In addition, any court action or proceeding brought by any third party to challenge this Agreement or any other permit or approval required from City or any other governmental entity for Development or construction of all or any portion of the Project covered by this Agreement shall constitute a permitted delay under Section 11. Notwithstanding the foregoing, the filing of any third party litigation against City and/or Developer relating to this Agreement or any provision thereof shall not be a reason to delay or stop the Development, processing or construction of the Project (including but not limited to the issuance of building permits or certificates of occupancy) unless the third party obtains a court order preventing 002P3BDA.030 [5-9-90] 24 1 2 3 4 5 6 7 8~~ 9 10 11 12 13 14 I5 I6 I7 I8 19 20 21 22 23 24 25 ;' 26 27 28 the activity. City will not stipulate to the issuance of any I such court order. 10.2 Further assurances. Each party covenants on behalf of I itself and its successors and assigns to take all actions and do I all things, and to execute with acknowledgments or affidavits if required any and all documents and writings that may be necessary or proper to achieve the purposes and objective of this Agreement. Each party shall take all necessary measures to see that the ~ provisions of this Agreement are carried out in full. 10.3 Processina. If necessary or required, upon ~ satisfactory completion by Developer of all required preliminary actions and payments of appropriate filing and processing fees, if any, City shall commence and proceed to complete all steps required or necessary for the implementation of this Agreement and the Development by Developer of the Project in accordance with the Existing Development Approvals including: (1) Scheduling, convening and concluding all required public hearings in a diligent manner consistent with applicable laws and regulations in force as of the Effective Date of this Agreement. (2) Processing and approval of all maps, plans, land use permits, building plans and specifications and other applications for Development Approvals relating to the Development of the Project, filed by Developer. Developer will, in a timely manner, provide City with all documents, applications, plans and other information necessary for City to carry out its obligations hereunder and cause Developer's planners, enc~ineers and all other consultants to 002P38DA.030 [5-9-90] 25 1 2 3 4 5 6 7; 8 9 '10 - 11 12 13 14 15 16 17 181 19 20 21 22 23 24 25 26 27 28 submit in a timely manner all required materials and documents therefor. It is the express intent of Developer and City to cooperate and diligently work to implement the Specific Plan. 10.4 Governmental permits. Developer shall apply in a timely manner for such other permits and approvals as are required by other governmental agencies having jurisdiction over the `Project in connection with the development of, or provision of services to, the Project. City shall use its best efforts to assist Developer in coordinating the implementation of the Project with such other governmental agencies. City shall cooperate with Developer in its efforts to obtain such permits and approvals. If ',' City's execution of a document or agreement is necessary or required by law to obtain or give effect to any such permit or approval, then City will execute such document or agreement. 10.5 Financina of public facilities and/or services. (a) Attached hereto as Exhibit "D" is a statement of the Conditions of Approval For Specific Plan 88-1 (COttonwood Hills) adopted by the City Council on March 14, 1989. Said conditions relate to public improvements to be provided by I Developer. Attached hereto as Exhibit "E° is an Addendum Re I"Implementation of Conditions, which relates to the conditions I imposed by Exhibit nD.° Each party shall perform the obligations imposed upon that party by Exhibit °E~n and each party may exercise and enforce the rights given that party by Exhibit "E." (b) City will cooperate and use its best efforts to assist Developer in obtaining and implementing and placing in effect a Mello-Roos, or other improvement bond program, or other public financing program'~which may be available for the purpose of ooas3a~a. oio [5-9-90] 26 1 2 3 4 5 6 7 81 9 10 11 12 13 14 15 16 ~~ 17 IS 19 20 21 22 23 24 25 26 27 28 I~ funding the planning, design, construction and maintenance of ' public facilities, including related fees and the acquisition of land therefor, and/or the provision of public services for the Project. In addition, the City shall not require the Developer to I join an existing Mello-Roos District or require that the financing ' districts participate in any pooled financing program or bond issue sponsored directly or indirectly by the City, unless at the time of the issuance of bonds, a formal policy provides that all developments for which the City is sponsoring a Mello-Roos District shall be required to participate in such financing program. Unless Developer otherwise consents, in the event that Developer is required to participate in a pooled financing or Marks-Roos Program, ,. [i] the Marks-Roos bonds or pool bonds to purcha the Mello-Roos obligations from Developer's property will only be available to purchase such Mello-Roos obligations; and [ii~ the City will retain an underwriter ~ recommended by Developer and agreeable to the City to participate in not less than 50 percent of the underwriting. The parties expect that bonds, assessments, liens or other such financing devices would be issued or levied to provide sufficient funds for the above-mentioned purposes. The parties, however, acknowledge that such puiilic improvements may not be completely 002P3HDA.010 [5-9-90] 27 1 II _ 21 ;. 3 # 4 ~) 7~ . 8~ 9 `10~ `11 12 ;13 14 - 1 161 17 18 19 20 21 22 23 24 25 26 27 -- 28 financed by said financial mechanism and the City retains the right to establish a maximum tax rate or assessment per parcel/lot or acre. City acknowledges that completion of proceedings to establish one or more public financing districts as discussed above is critical to provide the parties with security for performance by Developer of its obligation to commence and 'complete construction of major infrastructure. City will also assist Developer in securing construction and/or permanent financing and/or seller financing in connection with the development of the Property, and in condemning and obtaining all necessary rights of way. 10.6 Utilities coordination. City shall use its best efforts to assist Developer in obtaining all electrical, gas, telephone and other necessary utility connections required by the Project. Within a reasonable time after request therefor by Developer, City shall approve all connection and access points ~ for such utilities if in compliance with all applicable ~ ordinances, rules and requlations. 10.7 Covenant of aood faith and fair dealina. Except as may be required by law, neither party shall do anything which shall have the effect of harming or injuring the right of the other party to receive the specified and described benefits of this Agreement; each party shall refrain from doing anything which would render its performance under this Agreement impossible or impractical; and each party shall do everything which this Agreement describes that such party shall do. 10.8 Stephens Kanaaroo Rat. City will use its best efforts ', to maximize the amount o~ aoreage which is released for grading 002P38DA.030 [5-9-90] 28 1 2 3 4 5 6 7 8 9 10 11' 12 13 14 151 16 17 18 19 20 21 22 23 24 25 26 27 28 and allocate it to City pursuant to the Riverside County Short- Term Habitat Conservation Plan for the Stephens Kangaroo Rat, and City will take such steps as may be necessary or appropriate fro~ time to time, to secure such maximum allocation. 11. PERMZTTED DELAYS Developer shall be excused from performance of its obligations hereunder during any period of delay caused by acts of God or civil commotion; riots, strikes, picketing, or other labor disputes; unavoidable shortage of materials or supplies, damage to work in progress by reason of fire, flood, earthquake or other casualty, litigation which prohibits processing or ! constructing the Project; initiatives or referenda; moratoria; or unanticipated restrictions imposed or mandated by other governmental entities. Each party shall promptly notify the oth~ party of any delay hereunder as soon as possible after the same has been ascertained, and the term of this Agreement shall be extended by the period of any such delay.. Notwithstanding Section 14.3, any claim for delay must be presented within 30 days of knowledge of the cause of such delay, or any entitlement to time extension shall be deemed waived. 12. ESTOPPEL CERTIFICATES Either party may at any time, and from time to time, deliver written notice to the other party requesting the other party certify in writing that to the knowledge of the certifying party: (1) this Agreement is in full force and effect and is a binding obligation of the parties;~(2) this Agreement has not been amend~_ 002P38DA.030 [5-9-90] 29 1 or modified, and, if so amended or modified, to identify the 2 relevant documents; and (3) no default in the performance of the ~ 3 requesting party's obligations under this Agreement exists or, if 4 in default, the nature of any default. A party receiving a ~ request hereunder shall execute and return the certificate within 6 thirty (30) days following the receipt thereof. 7 8' 13. RECORDATION BY CITY CLERK 9 Pursuant to Government Code Section 65868.5, within ten (10) 10 days of City's execution of this Agreement, the City Clerk shall 11 record a copy with the Riverside County Recorder. Thereafter, 12 pursuant to Government Code Section 65868.5, n[t]he burdens of the 13 agreement shall be binding upon, and the benefits of the agreement 14 shall inure to, all successors in interest to the parties to the 15 agreement.° 16 17 14. DEFAULT 18 14.1 Events of default. 19 (a) Subject to any written extension of time by mutual 20 consent of the parties, and subject to the provisions of Sections 21 li and 15 regarding permitted delays, the failure of either party 22 to perform any material term or provision of this Agreement shall 23 constitute default if such defaulting party does not cure such 24 failure within thirty (30) days following written notice of 25 default from the other party; provided, however, that if the 26 nature of the default is such that it cannot be cured within 27 thirty (30) days, the commencement of a cure within such period 28 and the diligent prosecution to completion of the cure shall be 002Y3BDA.010 ~ 3 ~ . [5-9-90] 1 2 3 4 5 6, 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 ; 26 27 28 deemed to be a cure within such period. Any notice of default ~ given hereunder shall specify in detail the nature of the alleged default and the manner in which such default may be satisfactori: cured in accordance with the terms and conditions of this Agreement. During the time periods herein specified for cure of a failure of performance, the party charged with such failure of performance shall not be considered to be in default for purposes of termination of this Agreement, or for purposes of institution of legal proceedings with respect thereto, or for purposes of issuance of any building or grading permit with respect to the Project. (b) After proper notice and the expiration of the time for cure, the noticing party to this Agreement, at its option, may institute legal proceedings pursuant to Section 25 hereof or give notice of intent to terminate this Agreement pursuant to Government Code Section 65868. Following notice of intent to terminate, the matter shall then be scheduled for consideration and review in the manner set forth in California Government Code Sections 65865, 65867 and 65868 by the City Council within thirty (30) days. The City Council shall utilize the standard of review applicable in cases involving vested rights. (c) In the event the City Council finds a default on the basis of evidence presented before it, the non-defaulting party may at its option give written notice of termination of this Agreement to the party found to be in default by certified mail. The party found to be in default may seek judicial review of the City Council decision by filing an action in the Superior Court ~' 002P3BDA.010 [5-9-907 31 1 Riverside County. The Superior Court shall utilize the standard 2 of review applicable in cases involving vested rights. 3 14.2 Default bv Citv: In the event that City does not 4 accept, review, approve and issue requested development permits or 5 entitlements; or City otherwise defaults on this Agreement; or 6 City otherwise fails to comply with any term or provision of this 7-Agreement; City shall be in default. City agrees that Developer 8 in no event shall be obligated to proceed with or complete the 9II project or any phase thereof nor shall resulting delays in l0ll Developer's performance constitute grounds for termination or lll cancellation of this Agreement. 12 14.3 No waiver. Failure by a party to insist upon the 13 strict performance of any of the provisions of this Agreement by 14 the other party shall not constitute waiver of such party's riqht 15 -to demand strict compliance with such other party in the future. 16 All waivers must be in writing to be effective or binding upon 17 the waiving party, and no waiver shall be implied from any 18 omission by a party to take any action with respect to such 19 default. No express written waiver of any default shall affect I 20 any other default, or cover any other period of time except that 21 specified in such express waiver. 22 14.4 Effect of termination. Termination of this Agreement 23 by one party due to the other party~s default shall not affect any 24 right or duty emanating from City entitlements or approvals on the 25 Project, but the rights, duties and obligations of the parties 26 hereunder shall otherwise cease as of the date of such 27II termination. 28 002P3SDA.030 3 2 [5-9-90] : 11 2 3 4 5 6 7 8 9 I01 11 I2 13 14 15 16 17 I8 19 20 21 22 23 24 25 26 27 281 15. ENFORCED DELAY AND EXTENSION OF TIME OF PERFORMANCE In addition to specific provisions of this Agreement, performance by either party hereunder shall not be deemed to be : default where delays or defaults are due to war, insurrection, strikes, walk-outs, riots, floods, earthquakes, fires, casualties, acts of God, litigation, referenda, initiatives, moratoria, governmental restrictions imposed or mandated by other governmental entities, enactment of conflicting City, county, state or federal 3aws or regulations, judicial decisions, or similar basis for excused performance which is not within the reasonable control of the party to be excused. If written notice of such delay is given to either party within thirty (30) days of the commencement of such delay, an extension of time for such cause will be granted in writing for the period of the enforced delay, or longer as may be mutually agreed upon. 16. APPLICABLE LAW This Agreement shall be construed and enforced in accordance with the laws of the State of California. 17. NO JOINT VENTURE OR PARTNERSHIP City and Developer hereby renounce the existence of any form of joint venture or partnership between City and Developer, and expressly agree that nothing contained herein or in any document executed in connection herewith shall be construed as making City and Developer joint venturers or partners. It is understood that the contractual relationship between City and Developer is such that Developer is an independent contractor and not an agent of 002P3BDA.030 [5-9-90] 33 1 2 3 4 I' 5 6 7 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 City. Furthermore, this Agreement is not intended, nor shall it ; be construed, to create any third party beneficiary rights in any , person who is not a party to this Agreement. ', `18. ADDRESSES FOR NOTICES Any notice sent to either party under this Agreement shall be in writing and shall be given by delivering the same to such party in person or by sending the same by registered mail, return receipt, with postage prepaid, to the following addresses: To City: City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92330 Attn: City Manager To Developer:, Pardee Construction Company 10880 Wilshire Boulevard Suite 1400 Los Angeles, CA 90024 Attn: Theodore J. Cullen with a copy to: Sandler and Rosen 1801 Avenue of the Stars Suite 510 Los Angeles, CA 90067 Attn: Charles L. Birke Notices shall be deemed given on the date delivered in person or the date when the postal authorities indicate that the mailing was delivered. Written notices and demands shall be sent in the same manner to such other persons and addresses as either party may from time to time designate in a written notice pursuant to this section. 28 002P38DA.010 [5-9-90) 34 1 2 3 4 5 6 7 8 9 10 11 12 13 141 15 I6 17 18 19 20 21 22I 23 24 25 26 27 281 I 19. ASSIGNMENT AND NOTICE (a) Subject to Section 19(b), Developer shall have the I right to assign or transfer all or any portion of its interest, ~I rights or obligations under this Agreement to third parties acquiring an interest or estate in Project, the Property or portions thereof, including but not limited to purchasers or long- term ground lessees of individual lots, parcels, or any of the buildings located within the Project with or without prior approval of City. Developer shall give written notice to the City of its intention to assign or transfer any of its interest, rights or obligations under this Agreement. Any failure by Developer to provide said notice shall be curable in accordance with the provisions of this Agreement. City's approval of the assignment shall not be unreasonably withheld or delayed. Upon City's approval of the assignment, the express assumption of any of Developer's obligations under this Agreement by its assignee transferee shall thereby relieve Developer of any further obligations under this Agreement. No assignee or transferee shall be deemed to have assumed any of the obligations of this Agreement in the absence of an express written undertaking. If City reasonably withholds approval, then Developer may nevertheless ~ complete the assignment, but Developer will not be relieved of its obligations under this Agreement. Notwithstanding the foregoing, Developer shall have no obligation whatsoever to provide said notice when it intends to assign an interest in this Agreement in connection with a conveyance or transfer to a bank or other financial institution or corporation for financing purposes of a> 002P38DA.010 [5-9-90] 35 1 2 3 4 5 6 7 8 9 ` 10 I 11 12 13 14I 15 16~ 17~ 18 19 20 21 22 23 24 25 26 27 28 equitable interest in the Project and/or the Property whether by means of a deed of trust or other instrument. (b) Notwithstanding the provisions of Section 19(a), 'upon the sale or lease for more than one year of a dwelling unit i'or office or commercial or industrial space by Developer to a member of the public, but not upon the bulk sale thereof to any ' person or entity for resale to the public, such residential unit or office, commercial or industrial space shall be automatically released from the terms, provisions, covenants and obligations of this Agreement without notice and without the necessity of executing or recording any specific instrument of release or approval. 20. ENCUMBRANCES AND RELEASES OF REAL PROPERTY 20.1 Discretion to encumber. The parties hereto agree that this Agreement shall not prevent or limit Developer in any manner at Developer's sole discretion, from encumbering the subject real Property or any portion of any improvement thereon by any mortgage, deed of trust or other security device securing financing with respect to the Property. City acknowledges that the lenders providing such financing may require certain modifications and City agrees, upon request, from time to time, to meet with Developer and/or representatives of such lenders to negotiate in good faith any such request for modification. City further agrees that it will not unreasonably withhold its consent to any such requested modification so long as the modifications do not materially alter this Agreement. 002P3BDA.030 [5-9-90] 36 1 2, 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 271 281 20.2 Subordination to Liens and Convevances. City's rights to enforce any obligation of this Agreement are subordinate to thP lien of any mortgage or deed of:trust or other instrument utiliz~ to secure financing with respect to the Property, or any improvement thereon. Nothing in this Agreement shall be deemed to create a lien on behalf of City against the Property. City will execute and deliver to any lender or other interested person such I documents as may be reasonably requested to acknowledge that City I has no lien on the Property by reason of this Agreement, and that . I'I City's rights under this Agreement are subordinate as set forth herein. Nothing herein, however, shall be deemed to relieve li Developer of its obligations under this Agreement. 20.3 Entitlement to written notice of default. The ' mortgagee of a mortgage or beneficiary of a deed of trust, and their successors and assigns, or any mortgage or deed of trust encumbering the property, or any part thereof, which mortgagee, beneficiary, successor or assign has requested notice in writing receive by City, shall be entitled to receive written notification form City of any default by Developer in the performance of Developer's obligations under this Agreement which is not cured within thirty (30) days. 21. AFFORDABLE HOUSING In order to be consistent with the City's xousing Element, Developer will provide its fair share of affordable rental housing in the event Developer builds rental housing in the Multi-Family zones of the project. Such affordable rental housing will be available to persons in fhe low and very low income ranges, as 002P3BDA.010 (5-9-90] 37 1 2 ` 3 4 5 6 ry', 8 9 10 11 12 '13 14 15 16 17 18 19 20 21 22 23 24 25' 26 27 28 determined by the County Median Average when the building permits are issued for such units by the City. Such affordable rental housing shall be not less than fifteen percent (15~) of any rental units built by Developer, and shall not exceed twenty percent '`(20~) of such rental units. Nothing herein shall require Developer to build any rental units in order to provide such affordable housing. Developer agrees that if densities for the project are reduced, the reduction will not eliminate the aforementioned affordable rental housing. City will assist Developer in providing such fair share of affordable housing by providing economic incentives to Developer, including but not by way of limitation, access to so-called "set aside" funds. Developer may provide the Cottonwood Hill Project~s fair share of affordable rental housing by providing the aforesaid number of rental housing units at one or more other locations within the City limits acceptable to City Council. 22. CONSISTENCY FINDING By approving and executing this l~greement, City finds that its provisions are consistent with the City's General Plan and with the Specific Plan, and City further finds and determines that execution of this Agreement is in the best interests of the public health, safety and general welfare of City's residents, property owners and taxpayers. 23. CONSENT OF OTHER PARTIES Developer may, at its discretion, elect to have other holders of legal, equitable or tieneficial interests in the Project, the oozessna.oio [5-9-90] 38 1 2. 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 271 Property or portions thereof, acknowledge and consent to the execution and recordation of this Agreement by executing an appropriate instrument therefor. It is understood by the partie, that the execution of such document by other holders of legal, equitable, or beneficial interest in the Project is not a condition precedent to this Agreement. 24. RELEASE. City hereby covenants and agree that upon completion of the public improvements and payment of all fees required under this Agreement with respect to the Property, or any portion thereof, City shall execute and deliver to the Riverside County Recorder appropriate release or releases of further obligations in form and substance acceptable to the County Recorder or as may otherwise be necessary to effect such release. 25. OPERATING MEMORANDA The parties acknowledge that from time to time it may be in the mutual interest of the parties that certain details relative to performance of this Agreement be refined. Therefor, to the extent allowable by law, the parties retain a certain degree of flexibility with respect to those provisions covered in general under this Agreement which do not relate to the term, permitted uses, density or intensity of use, height or size of building, provisions for reservation and dedication of land, timing, rate or sequence of development, conditions, terms, restrictions and requirements relating to subsequent discretionary actions, 28~~ development of public improvements or monetary contributions by 002P38DA.010 3 9 [5-9-90) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27' 28 Developer or any conditions or covenants relating to the use of the Property. When and if the parties find it necessary or appropriate to make changes or adjustments to such provisions, they shall effectuate changes of adjustments through operating memoranda in recordable form approved by the parties in writing which reference this Section 24. For purposes of this Section 24, the City Manager or his/her designee upon report to and approval by the City Council, shall have the authority to approve the operating memoranda on behalf of City. No operating memoranda shall require notice or hearing or shall be deemed to constitute an amendment to this Agreement. 26. INSTITUTION OF LEGAL ACTION In addition to any other rights or remedies, either party may institute legal action to cure, correct or remedy any default, to enforce any covenants or agreements herein or to enjoin any threatened or attempted violation thereof or to obtain any remedies consistent with the purpose of this Agreement. In the event of any such legal action involving or arising out of this Agreement, the prevailing party shall be entitled to recover reasonable litigation expenses, attorneys' fees and costs incurred. It is understood between the parties that in the event a breach of this Agreement by City occurs, irreparable harm is likely to occur to Developer and damages may be an inadequate remedy. To the extent permitted by law, therefore, it is expressly recognized that specific enforcement of this Agreement by Developer is a proper and desirable remedy in addition to any and all other remedies which may be available to Developer under 002P3BDA.010 [5-9-90] 40 / I 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 >~: 26 27 28 law or at equity. Each party shall have the right to enforce one or more remedies hereunder successively and concurrently and any such action shall not estop or prevent such party form pursuing any further remedy which it may have; and all remedies, either under this Agreement or at law or in equity or otherwise afforded to the parties shall be cumulative and not alternative. In all judicial proceedings, the court shall utilize the standard of judicial review applicable to vested rights. 27. INDEMNITY (a) Developer agrees to and shall hold the City, its officers, agents, employees and representatives harmless from liability for damage or claims for damage for personal injury including death and claims for property damage which may arise out' of the direct or indirect operation of the Developer or those oi their contractors, subcontractors, agents, employees or other persons acting on their behalf which relate to the Project. Developer agrees to and shall defend the City and its officers, agents, employees and representatives from actions for damages caused or alleged to have been caused by reason of Developer's activities in connection with the Project. (b) This hold harmless agreement applies to all damages and claims for damages suffered or alleged to have been suffered by reason of the operations referred to in this paragraph, regardless of whether or not the City prepared, supplied, or approved plans or specifications or both for the Project and regardless of whether or not insurance coverage exists. 002P38DA.030 (5-9-90J 41 11 21 31 41 51 6 7 81 9 10 11 12 13 14 15 " 16 17 18 19 20 21 22 23 24 25 26 27 28 (c) The provisions of this Section shall not apply to the extent such damage, liability or claim is proximately caused by the intentional or negligent act of City, its officers, agents, employees or representatives. All indemnity rights and obligations shall be governed by principles of comparative fault. °28. INSURANCE Imarovement Security/Insurance: As a condition of approving a subdivision map for all or a portion of the Property, City may require the furnishing of appropriate and reasonable security pursuant to local ordinances and California Government Code Section 66499, et seq. City may also require evidence of compliance with labor standards and insurance required as a standard condition under federal, state or local law at the time of City action on any necessary development permits or any other entitlements for the use and development of the Property pursuant to this Agreement. 29. TERMS AND CONSTRUCTION 29.1 Entire Agreement. This written Agreement contains all the representations and the entire agreement between City and Developer.' Any prior correspondence., memoranda, agreements, warranties or representations are superseded in total by this Agreement. This Agreement shall be construed as a whole according to its common meaning and not strictly for or against any party in order to achieve the objectives and purposes of the parties hereunder. Whenever required by the context of this Agreement, the singular shall include the plural and vice versa, and the 002P3BDA.030 [5-9-907 42 1 2 3 4 51 6 7 8 9 10 I1 12 13 14 15 16 17 18 191 20 21 22 23 24 25 26 27, 28 masculine gender shall include the feminine or neuter gender. °Shall° is the mandatory and pmayy is the permissive. 29.2 Signature oaaes. For convenience, the signatures of the parties to this Agreement may be executed and acknowledged on separate pages which, when attached to this Agreement, shall constitute this document as one complete Agreement. 29.3 Time. Time is of the essence of this Agreement and of each and every term and condition hereof. CITY OF LAKE ELSINORE By: WASHBUIiN, "4P,Y6R DEVEIAPER: PARDEE-GROSSMAN, COTTONWOOD CANYON, a General Partnership by PARDEE CONSTRUCTION COMPANY, a California corporation, GENERAL PARTNER By : /!/(~A> //, ~`,~ Michael V. McGee Vice President [Title] Approved as to form and legality this ~~the day of ~, 1990 oozessna.oxo ~s-s-va~ ATTEST: ~ ~ City Clerk 43 CITY ATTORNEY