Assignment, Delegation, and Assumption of the Development Agreement as Amended 1996-0594395! ,.
ASSIGNMENT,
DELEGATION, AND ASSUMPTION
OF THE DEVELOPMENT AGREEMENT AS AMENDED
BY AND BETWEEN
THE CITY OF POWAY,
AND
TRIDENT HOMES OF CALIFORNIA, INC.
CITY,
DEVELOPER.
THIS ASSIGNMENT, DELEGATION AND ASSUMPTION OF THE DEVELOPMENT
AGREEMENT AS AMENDED BY AND BETWEEN THE CITY OF POWAY, A MUNICIPAL
CORPORATION, CITY, AND TRIDENT HOMES OF CALIFORNIA, INC., DEVELOPER,
( "Assignment, Delegation and Assumption "), is made as of October 22, 1996, by and among Trident
Homes of California, Inc., a California corporation, Shea Homes Limited Partnership, a California
limited partnership, and the City of Poway who agree as follows:
1. RECITALS: This Assignment, Delegation and Assumption is made with reference
to and in contemplation of the following facts and circumstances:
a. Trident Homes of California, Inc., and the City of Poway ( "City ") are parties
to the Development Agreement by and between the City of Poway, City, and McMillin Equity
Partners II, Developer, dated as of June 13, 1991, and recorded with the San Diego County Recorder
on June 13, 1991, as Document No. 1991- 0282464, as amended by the First Amendment to
Development Agreement on March 9, 1993, and recorded with the San Diego County Recorder on
March 30, 1993, as Document No. 1993- 0193225, and as amended by the Second Amendment to
Development Agreement on October 12, 1993, and recorded with the San Diego County Recorder
on October 26, 1993, as Document No. 1993 - 0714757 ( "Development Agreement ").
Ln b 001
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OUKIA R Rn:
RECORDING REQUESTED BY:
SAN DIEGO COUNTY RECORDER'' S OFFICE
Cott
GREGORY SMTTN, COUNTY RECORDER
City of Poway
RFe 14.00 FEES:
i527 AF: 1.00
Mr. '_.00
and
WHEN RECORDED MAIL TO:
City Clerk
City of Poway
P.O. Box 789
Poway, California 92074
No Transfer Tax Due
Above Space For Recorder's Use Only
ASSIGNMENT,
DELEGATION, AND ASSUMPTION
OF THE DEVELOPMENT AGREEMENT AS AMENDED
BY AND BETWEEN
THE CITY OF POWAY,
AND
TRIDENT HOMES OF CALIFORNIA, INC.
CITY,
DEVELOPER.
THIS ASSIGNMENT, DELEGATION AND ASSUMPTION OF THE DEVELOPMENT
AGREEMENT AS AMENDED BY AND BETWEEN THE CITY OF POWAY, A MUNICIPAL
CORPORATION, CITY, AND TRIDENT HOMES OF CALIFORNIA, INC., DEVELOPER,
( "Assignment, Delegation and Assumption "), is made as of October 22, 1996, by and among Trident
Homes of California, Inc., a California corporation, Shea Homes Limited Partnership, a California
limited partnership, and the City of Poway who agree as follows:
1. RECITALS: This Assignment, Delegation and Assumption is made with reference
to and in contemplation of the following facts and circumstances:
a. Trident Homes of California, Inc., and the City of Poway ( "City ") are parties
to the Development Agreement by and between the City of Poway, City, and McMillin Equity
Partners II, Developer, dated as of June 13, 1991, and recorded with the San Diego County Recorder
on June 13, 1991, as Document No. 1991- 0282464, as amended by the First Amendment to
Development Agreement on March 9, 1993, and recorded with the San Diego County Recorder on
March 30, 1993, as Document No. 1993- 0193225, and as amended by the Second Amendment to
Development Agreement on October 12, 1993, and recorded with the San Diego County Recorder
on October 26, 1993, as Document No. 1993 - 0714757 ( "Development Agreement ").
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:1528
b. Shea Homes Limited Partnership holds all legal interest in a portion of the
property governed by the Development Agreement as of October 18, 1996. The property owned by
Shea Homes Limited Partnership is more particularly described in Exhibit "A" attached hereto (the
"Property ") and incorporated herein by reference, which is the subject of this Assignment,
Delegation and Assumption.
2. ASSIGNMENT AND DELEGATION: For valuable consideration, the receipt of
which is hereby acknowledged, Trident Homes of California, Inc., hereby assigns its rights and
delegates its obligations under the Development Agreement only with respect to the Property to Shea
Homes Limited Partnership,
3. ASSUMPTION: For valuable consideration, the receipt of which is hereby
acknowledged, Shea Homes Limited Partnership hereby accepts the rights and assumes the
obligations of Trident Homes of California, Inc.. under the Development Agreement only with
respect to the Property.
4. RELEASE OF OBLIGATION: The City of Poway hereby releases Trident Homes
of California, Inc., from the obligations of the Development Agreement only with respect to the
Property.
IN WITNESS WHEREOF, Trident Homes of California, Inc., Shea Homes Limited
Partnership and the City of Poway have executed and delivered this Assignment, Delegation and
Assumption as of the date written above.
ATTEST:
CITY OF POWAY
By:
ayor
City Clerk
[Signatures continued on following page]
HA ... \SheaHomesftway135\Dev_Agmt.Asn - 2 -
[Signatures continued from preceding page] 1 5 2 9
APPROVED AS TO FORM AND SUBSTANCE:
1 (City'
S ph M. Eckis Attorney
TRIDENT HOMES OF CALIFORNIA, INC., a
California corporation
By: i%g�---
Its VALE PIZ 51DEA)
SHEA HOMES LIMITED PARTNERSHIP, a
California limited partnership
BY: J. F. SHEA CO., INC., a Nevada
corporation, General Partner
am
HA ... \SheaHomesToway135\Dev_Agmt.Asn -3 -
, Vice President
Its Gary Okonowsky, Assistant Secretary
•
STATE OF CALIFORNIA )
) ss.
COUNTY OF SAN DIEGO )
1530
On November 1, 1996 , before me, Susan L. Trimingham , Notary
Public, personally appeared Mark Brock and Gary Okonowsky , known to me
( to be the person(s) whose name(s) �/are
subscribed to the within instrument and acknowledged to me that he /sh the xecuted the same
in his /h the' authorized capacity(ies), and that by his /he their ignature(s) on the instrument,
the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
STATE OF CALIFORNIA )
) ss.
COUNTY OF ORANGE )
SUSAN L TRIMINGHAM
•
COMM. #987034 g
SAN DIES�p N C?
My Commissirn �+
(Seal) MARCH 26.1 7
On NOVEMBER 7, 1996 , before me, JOSEPHINE C. CHIEN Notary
Public, personally appeared DANIEL ZAU , known to me
to be the person(6) whose name(s) is /aa
subscribed to the within instrument and acknowledged to me that he/AldlWy executed the same
in his /l *i@k authorized capacity( W, and that by his /kwiftk signature(sro on the instrument,
the person(s), or the entity upon behalf of which the person(x) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
H:\...\ SheaHomes\Poway135 \Dev_Agmt.Asn - 4 -
JOSEPHINE C CHIEN
' COMM. # 1015051 Z
(Seal) z `� o Notary Public — Colifomia
ORANGE COUNTY
My Comm. Expires JAN 20,1998
LEGAL DESCRIPTION - EXHIBIT "A" TOTAL 1 53 1
PARCEL 1:
THE NORTHWEST QUARTER OF SECTION 26, TOWNSHIP 14 SOUTH, RANGE 2 WEST, SAN
BERNARDINO MERIDIAN, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF.
EXCEPTING THAT PORTION OF THE EAST HALF OF SAID NORTHWEST QUARTER LYING
NORTHEASTERLY OF THE CENTER LINE OF THAT 60 FOOT EASEMENT FOR ROAD PURPOSES
DESCRIBED IN DEED TO THE COUNTY OF SAN DIEGO, RECORDED APRIL 4, 1924 IN BOOK
751, PAGE 369 OF DEEDS.
ALSO EXCEPTING THAT PORTION OF THE NORTH HALF OF SAID NORTHWEST QUARTER
DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID SECTION 26; THENCE SOUTH 00' 19' 53"
WEST, ALONG THE WESTERLY LINE THEREOF, 437.00 FEET; THENCE SOUTH 86' 51' 34"
EAST, 283.36 FEET; THENCE SOUTH 85' 53' 30" EAST, 261.05 FEET; THENCE SOUTH 89°
50' 57" EAST, 360.53 FEET THENCE NORTH 520 31' 37" EAST, 148.35 FEET; THENCE
NORTH 600 40' 53" EAST, 146.18 FEET; THENCE NORTH 130 21' 20" WEST, 85.55 FEET TO
A POINT ON A NON - TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 6000.00
FEET, A RADIAL TO SAID POINT BEARS NORTH 020 43' 01" WEST; THENCE EASTERLY ALONG
THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 000 14' 26" A DISTANCE OF 25.19
FEET; THENCE NORTH 870 31' 25" EAST, 178.29 FEET TO A POINT ON A TANGENT CURVE
CONCAVE NORTHERLY HAVING A RADIUS OF 1971.00 FEET; THENCE EASTERLY ALONG THE ARC
OF SAID CURVE THROUGH A CENTRAL ANGLE OF 060 47' 10" A DISTANCE OF 233.45 FEET TO
A POINT ON THE WESTERLY RIGHT -OF -WAY OF OLD POMERADO ROAD AS DESCRIBED IN DEED
TO THE COUNTY OF SAN DIEGO RECORDED APRIL 4, 1924 IN BOOK 751 AT PAGE 369 OF
DEEDS IN THE OFFICE OF THE RECORDER OF SAID SAN DIEGO COUNTY, SAID POINT BEING
ON A CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 1030.00 FEET, A RADIAL TO
SAID POINT BEARS SOUTH 430 26' 29" WEST; THENCE NORTHWESTERLY ALONG THE ARC OF
SAID CURVE, BEING ALSO THE WESTERLY RIGHT -OF -WAY OF SAID OLD POMERADO ROAD,
THROUGH A CENTRAL ANGLE OF 050 40' 35" A DISTANCE OF 102.04 FEET; THENCE NORTH 400
48' 32" WEST CONTINUING ALONG SAID WESTERLY RIGHT -OF -WAY 123.08 FEET; THENCE
LEAVING SAID WESTERLY RIGHT -OF -WAY NORTH 370 26' 30" EAST, 30.64 FEET TO THE
INTERSECTION OF THE NORTH LINE OF SAID SECTION 26 AND THE CENTERLINE OF SAID
POMERADO ROAD; THENCE NORTH 890 52' 20" WEST ALONG SAID NORTH LINE OF SAID
SECTION 26, 1429.79 FEET, MORE OR LESS, TO THE POINT OF BEGINNING.
ALSO EXCEPTING THEREFROM CITY OF POWAY TRACT NO. 88 -04R, IN THE CITY OF POWAY,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 13364,
FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON OCTOBER 17,
1996.
PARCEL 2:
LOTS 1 THRU 64 INCLUSIVE, OF CITY OF POWAY TRACT NO. 88 -04R, IN THE CITY OF
POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO.
13364, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON OCTOBER
17, 1996.