Covenant Regarding Real Property 2017-0067753 I
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• DOC# 2017-0067753
/IIIIII�II/IIIIIIIII/IIII/IIII/III)/III/IIIII/1111/IIIII IIIII IIIIIIII
RECORDING REQUEST BY: ) Feb 09, 2017 04:39 PM
CITY OF POWAY ) OFFICIAL RECORDS
Ernest J. Dronenburg, Jr.,
SAN DIEGO COUNTY RECORDER
WHEN RECORDED MAIL TO: ) FEES: $24.00
CITY CLERK ) PAGES: 4
Af CITY OF POWAY
PO BOX 789 )
POWAY CA 92074-0789 )
(This space for Recorder's Use)
APNs: 323-092--35
COVENANT REGARDING REAL PROPERTY
PERTAINING TO A SHARED PARKING AGREEMENT
Sorrento West Properties, Inc., a Delaware corporation ("Owner" hereinafter), is the
owner of the real property located at 14004 Kirkham Way, ("Property" hereinafter) and more
specifically described as Parcel 4 of Parcel Map 18491, in the City of Poway, County of San
Diego, State of California, filed in the Office of the County Recorder of said County, on June
14, 2000.
In consideration of a request by General Atomics Aeronautical Systems, Inc., a
Delaware corporation as a tenant of the Property for, and the approval by the City of Poway
("City") of, a building permit (B16-2061) for an approximately 10,000 — 12,000 square foot
addition to the existing building on the Property (the "Addition"), Owner acknowledges and
agrees to maintain for the term of this agreement ("Covenant Agreement") a minimum of 36
parking spaces, consisting of 20 parking spaces required for the Addition and the
replacement of 16 existing parking spaces which are being removed to accommodate the
Addition (collectively, the "Addition Parking Requirement"). The Addition Parking
Requirement shall be satisfied by parking spaces located on properties owned by Owner
having sufficient surplus parking spaces to accommodate the Addition Parking Requirement
at all times, and/or by Owner securing rights to use available parking spaces located on
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• properties owned by other property owners pursuant to parking agreements with such owners
that have been provided to the City for its verification of satisfaction of the Addition Parking
Requirement. Owner and the owner of each property used to satisfy the Addition Parking
Requirement shall enter into such written agreements, in form and substance approved by
the City, in order to guarantee that Owner is, during the term of this Covenant Agreement,
satisfying the Additional Parking Requirement. Owner's satisfaction of the Additional Parking
Requirement may include the use of shuttle services between the Property and such
additional parking sites as Owner utilizes for satisfaction of the Addition Parking
Requirement, provided that if the additional parking sites are located south of Scripps Poway
Parkway and east of Tech Center Drive, Owner's use of such shuttle services shall be in
Owner's discretion, but if the additional parking sites are located north of Scripps Poway
Parkway or west of Tech Center Drive then Owner's use of such shuttle services shall be
required.
This Covenant Agreement shall run with the land and be binding upon and inure to the
benefit of future owners, encumbrancers, successors, heirs, personal representatives,
4323-8335-2335.v I
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transferees and assigns of the respective parties, provided that, this Covenant Agreement will
be binding on each Owner and its successors and assigns only during their respective
periods of ownership of the Property.
If any party is required to incur costs to enforce the provisions of this Covenant
Agreement, the prevailing party shall be entitled to full reimbursement of all costs, including
reasonable attorneys' fees, from the other party.
This Covenant Agreement is in perpetuity and can only be terminated by the
City's Director of the Development Services and written notice of termination of this
agreement has been provided to the other party at least sixty (60) days prior to the
termination date, provided that, notwithstanding the foregoing, this Covenant Agreement
shall terminate in the event any of the following shall occur: (A) the Addition is removed by
Owner (or a successor or assignee of Owner ) from the Property and any required parking
spaces which were eliminated to accommodate the Addition are restored on the Property
to the extent such parking spaces are still required under applicable zoning and other
entitlements affecting the then-current use of the Property ("Current Zoning"); (B) the
Addition Parking Requirement is no longer required under Current Zoning as the same
concerns the use of the Property, or (C) if Owner (or a successor or assignee of Owner )
and City mutually agree in writing to terminate this Covenant Agreement or portion
thereof. Upon any termination of this Covenant Agreement, Owner (or a successor or
assignee of Owner) and City shall promptly execute, acknowledge and deliver a
memorandum of such termination to be recorded by either party in the Official Records of
the County of San Diego removing the Covenant Agreement from title to the Property.
No breach of the covenants herein contained shall affect, impair, defeat or render
invalid the lien or charge of any deed of trust or mortgage made in good faith and for value
encumbering•all or any part of the Property ("Mortgage"), but this Covenant Agreement shall
be binding upon and effective against any Owner whose title is derived through foreclosure or
trustee's sale, or otherwise. The holder or beneficiary of a Mortgage ("Mortgagee") shall
have the right but not the obligation to cure any breach of the provisions of this Covenant
Agreement relating to the portion of the Property encumbered by such Mortgagee's
Mortgage, unless the Mortgagee becomes the owner of the Property.
[Remainder of Page Left Intentionally Blank- Signatures Follow On Next Page]
4823-8335-2385.v1
This Agreement is entered into and effective February 3, 2017, by and the Owner and the
City of Poway. •
In Witness whereof, the undersigned have executed this Agreement.
OWNER:
Sorrento West Properties, Inc., aDelawar
corporationAtithcaki
Dated: February 3, 2017 By:
Name: Joseph E. Maskalenko
Title: Vice President
(Notarize)
CITY OF POWAY:
Dated: 407 By: 14-
Rob rt J. Manis, irector f De pment Services
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4323-8335-2385.v'
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
who signed the document to which this certificate is
attached, and not the truthfulness, accuracy, or
validity of that document.
STATE OF CALIFORNIA )
County of ,�
On Feb.es. 3 � 0017 , before me, Jojcs a Z ,>
a Notary Public, personally appeared
70seph ('laskal en kb who proved to me on the basis of satisfactory
evidence to be the person() whose name(4) is/as subscribed to the within instrument and
acknowledged to me that he/fie/thyxy executed the same in his/t /thW authorized capacity(
and that by his/l1 /tltti rr signature(%)on the instrument the person(!), or the entity upon behalf of
which the person(*) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
(Affix seal here)
0y4.6_52_t --)art,CAA44a41
JOYCE.E:!ADMAN • Signature Of Notary Commission *2021691
,a4! Notary Public-Calilarnfe
San Oleg6 County
" "` My Comm..Exp ref'Apr252017
4823-8335-2385.vI