Option Agreement 2008-0493247
if -- -
R<,!cording requested by . DOC~
' CHICAGO TITLE COMPANY 2008-0493247
~ " "?:c>d-I /(PO. 'S 1111111111111111111111111111111111111111111111111111111111111111111111
RECORDING REQUESTED BY SEP 17, 2008 11 15 AM
AND WHEN RECORDED MAIL TO'
\J.r I]FFICI.LI.L RECIIRCIS
('\ Y Poway Redevelopment Agency ';At',~ [IIH;O LuurH'1 FiEcnF:CIER":1 IIFFICE
ClRECiOF:'1 .1 Sh.1ITH CuUtH'1 RECOF:[IEF:
13325 CiVIC Center Drive FEES [I,DI]
Poway. California 92074-0789 PAGES: 14
Attention. Executive Director 1I1111I1111111111II1I1111111111I11I1111111111II111111111111111111111111111111111
3410
This document is exempt from the payment of a recording
fee pursuant to Government Code Section 27383
OPTION AGREEMENT
THIS OPTION AGREEMENT is entered into as of September lb. 2008. by and between
the POW A Y REDEVELOPMENT AGENCY, a public body. corporate and politic (the
"Agency"), and POW A Y MEADOWS, L.P., a California limited partnership (the "Developer").
RECITALS
A. Developer and the Agency havc entered into a Disposition and Development
Agreemcnt dated as of July 17,2007 (the "DDA"). Under the terms of the DDA, the Developer has
acquired certain real property from the Agency (the "Site"). One ofthe portions of the Site is
referred to in the DDA as the "I' ork Parcel," which is particularly described in thc Legal Description
attached hcreto as Exhibit A, and incorporated herein by reference.
S Pursuant to Section 506 of the DDA, the Developer has agreed to grant to the Agency
an option to purchase the York Parcclupon the occurrence of certain events set forth therein. In
addition, the Agency has granted to the Developer the right to require the Agency to purchase the
York Parcel upon the occurrence of certain events set forth therein.
C Developer desires to grant to Agency an option to purchase the York Parcel, and
Agency desires to grant to Developer an option to require Agency to repurchase the York Parcel, on
the terms and conditions set forth herein below For purposes of this Option Agrecment, the "York
Parcel" shall also be deemed to include any and all improvements locatcd on the real property, and
all of Developcr's light, title and intcrest in and to any and all casements, rights of way, licenses,
permits, applications, reports or other personal property utilized in conjunction with or in any way
related to or appurtenant to such real property and improvements (but cxcluding Developer's trade
fixtures and equipment).
NOW, THEREFORE, in consideration of the foregoing, and the mutual covenants and
condItions contained herein, the Parties hereto agree as follows:
I. Grant of Option. Developer hereby grants to the Agency an option (the "Option")
to purchase the York Parcel on the temlS and conditions set forth in this Option Ab'Teement. The
purchase price payable by the Agency to the Developer lor the York Parcel shall be One Dollar
($1 (lO) plus an amollnt equal to one-half of the Developer's actual and direct third party costs
relating to design and engineering costs fix the York Parcel which onc-half( 1/2) is estimated to be
1 552\u4\.5Y(,(d '.J
08-/7...10
. .
3411
$80,000. but not to exceed $100,000 (the "Option Price"). Notwithstanding the foregoing, however,
in the event that Developer is in default of its obligation pursuant to Section 303 to use good faith
efforts to obtain the recordation of an easement which provides vehicular access to the York Parcel
from Edgemoor A venue and York A venue, and such default has not been cured after notice and an
opportunity to cure in accordance with Section 501 ofthe DDA, the purchase price shall be only One
Dollar ($1 00). The Option created hereby shall be irrevocable by Developcr and shall be binding
upon the successors and assigns of Developer The Agency shall have the right of specific
performance \0 enforce the terms ofthis Option Agreement.
2. Grant of Put. The Agency hcreby grants to the Developer the right to require the
Agency to repurchase the York Parcel from Developer on the terms and conditions set forth in this
Option Agreement (the "Put"). The purchase price payable by the Agency to the Developer for the
York Parcel shall be the Option Price, The Put created hereby shall be irrevocable by Agency and
shall be binding.upon the successors and assigns of Agency The Developer shall have the right of
specific performance to enforce the terms of this Option Agrccment.
3. Exercise of Option and Put.
a. Option. The Option may be exercised by Agency's delivery to Developer of
written notice of such exercise (the "Exercisc Notice") in the event that as of two (2) ycars after the
Closing ofthc York Parccl, (a) the Developer has not obtain cd the rccordation of an easemcnt which
providcs vehicular acccss to the York Parccl from York Avenue, as set forth in Section 303 of the
DDA, or (b) thc Devcloper has not obtained the land use entitlements and approvals for the
construction of the Residential Units on the York Parcel, or (c) the Developer has not obtained
Agency approval of financing for the construction of the Residential Units on the York Parcel. Upon
the occurrence of all of the foregoing events (i.e., Developer's obtaining the easement, land use
entitlements, approvals, and Agency approval of financing), Agency's right to exercise the Option
shall tern1inatc; provided, however, that Agency may exercise the Option if the construction loan is
not funded within ninety (90) days after the occurrcnce of (a), (b) and (c).
b. Put. The Put may be exercised by Developer's delivery to Agency of an
Excrcise Notice in the event that as oftwo (2) years after the Closing of the York Parcel, despite
using its diligent efforts to do so, the Developer has not obtained (a) the recordation of an easement
whIch provides vehicular access to the York Parcel from York A venue. as set forth in Section 303 of
thc DDA. or (b) the land use approvals and entitlcments for the constructIOn of the Residential Units
on the York Parcel, or (c) Agency approval of financing for the construction of the Residcntial Units
on the York Parcel. Upon the occurrence ofallllfthe foregoing events (i.e., Dcveloper's obtaining
the casement, land use entitlements and approvals, and o\gency approval of financing and thc funding
ofthe construction loan, concurrent with which this Option Agreement shall be terminated of
record), Developer's right to exercise the Put shall terminate and Option Agreement shall be
terminated ofrecord.
4. Escrow and Completion of Sale. Within five (5) days after Agency has exercised
the Option Or Dcveloper has exercised the Put, or as soon thcreafter as reasonably practicable, an
cscrow shall be opened with an escrow company mutually acccptable to Agency and Developer for
thc conveyance ofthe York Parcel to the Agency The Agency shall deposit the Option Pnce in
cscrow not later than one (1) business day prior to the anticipated close of escrow date. The
Agency's obligation to close escrow shall be subject to the Agency's reasonable approval of a then-
CUlTent preliminary title report and, at Agency's option, environmental and other site testing. Any
1552\04\596613.1
. .
3412
exceptions shown on such preliminary title report created on or after the Developer's acquisition of
the York Parcel shall be removed by Developer at its sole expense prior to the close of escrow
pursuant to this Section 4 unless such exception(s) is(are) accepted by Agency in its reasonable
discretion; provided, however, that Agency shall accept the following exceptions to title: (i) current
taxcs not yet delinquent. (ii) matters affecting title existing on the date of Developer's acquisition of
the York Parcel, (iii) liens and encumbrances in favor of the City of Po way. and (iv) matters shown
as printed exceptions in the standard fornl CL T A owner's policy of title insurance. The Parties shall
each be responsible for one-halfofthc escrow fecs, documentary transfer taxes, recording fees and
any other costs and expenses of the escrow, and the Developer shall be responsible for the cost ofa
CL T A owner's policy of title insurance. Agency shall have thirty (30) days after exercise of the
Option or Put to enter upon the York Parcel to conduct any tests, inspections, investigations, or
studies of the condition ofthc York Parcel. Developer shall pernlit the Agency access to the York
Parcel for such purposes, The Agency shall indemnify, defend, and hold harmless Developer and its
officers, directors, shareholders, partners, employees, agents, and representatives from and against all
claims, liabilities, or damages, and including expert witness fees and reasonable attorney's fees and
costs, caused by Agency's activities with respect to or arising out of such testing, inspection, or
investigatory activity on the York Parcel. Escrow shall close promptly after reasonable acceptance
by Agency of the condition of title and thc physical and environmental condition of the York Parcel.
Until thc Closing, the temlS of the DDA and the documents executed and recorded pursuant thereto
shall remain in full force and effect.
5. Failure to Exercise Option. If the Option and Put are not exercised in the manner
provided in Section 3 abovc before thc expiration ofthc times set forth therein, the Option and Put
shall terminate. Either party may request that a quitclaim deed terminating or releasing any and all
OptIOn and Put rights (the "Quitclaim Deed") be recorded in the Official Records of San Diego
County, California, and the other party shall cooperate in the execution and recording of the
Quitclaim Deed.
6. Assignment. Neither party shall have the right to assign its intcrests hercunder,
except that if a party assigns its interest under and in accordance with Section 603 ofthe DDA, such
party shall conculTently assign its interest hereundcr to the same assignee.
7. Representations and Warranties. Each party hereby represcnts, warrants and
covenants as follows, which representations and warranties shall survive the exercise of the Option or
Put and the Close of Escrow'
(a) that this Option Agreemcnt and the other documents to be executed by such
party hereunder, upon execution and delivery thereof by such party, will have been duly entered into
by such party, and will constitute legal, valid and binding obligations of such party;
(b) neither this Option Agreement, nor anything provided to be done under this
Option Agreement, violates or shall violate any contract, document, understanding, agreement or
instnrment to which such party is a party or by which it is bound; and
Each party agrees to indemnify, protect, defend, and hold the other party harmless from and
against any damage, e1aim, liability, or expense of any kind whatsocver (including, without
limitation, reasonable attorneys' fees and fees of expert witnesses) arising from or in connection with
any breach of the foregoing representations, warranties and covenants. Such representations and
1552\O~\596613.1
. .
3413
warranties shall be true and correct on and as of the date of this Option Agreement and on and as of
the date of thc Close of Escrow
8. Title. Following the date hereof, except as permitted by the DDA, Developer agrees
not to cause, and shall use commercially reasonable etforts not to permit, any lien, easement,
encumbrance or othcr exception to title to be recorded against the York Parcel without Agency's
prior written approval, such approval not to be unreasonably withheld. Developer shall not permit
thc recordation of the construction lender's deed of trust as an encumbrance to the York Parcel until
thc Option and Put rights hereunder havc ternlinated.
9. General Provisions.
9.1 Paragraph Headings. The paragraph headings used in this Option
Agreement are for purposes of convenience only They shall not be construed to limit or extend the
meaning of any part of this Option Agreement.
9.2 Notices. Any notice, dcmand, approval, consent, or other communication
required or desired to be given under this Option Agreemcnt shall be in writing and shall be either
personally served, sent by telecopy, mailed in the United States mails, certitied, return receipt
rcquestcd, postage prepaid, or sent by other commercially acceptable mcans, addressed to the Party
to be scrved with the copies indicated below, at the last address given by that Party to the othcr under
the provisions of this section. All communications shall be deemed delivered at the earlier of actual
receipt, the ncxt business day aftcr dcposit with Federal Express or other overnight delivery service
or two (2) business days following mailing as aforesaid, or iftelecopied, when sent, provided a copy
is mailed or delivered as provided herein:
To Agency' Poway Redevelopment Agency
13325 Civic Center Drive
Poway, California 92074-0789
Attention. Deputy Executive Dircctor
To Developer' Poway Mcadows, L.P
2505 Congress Street
San Diego, California 92110
Attention. Dennis M. Ferdig
9.3 Binding Effect. The terms. covenants and conditions of this Option
Agreement shall be binding upon and inure to thc benefit of the Parties hereto and their respective
successors, assigns ano transferees.
9.4 Entire Agreement. This Option Agreement scts forth thc entire agrcement
between the Parties hereto respecting the Option, and superscdes all prior negotiations and
agreemcnts, written or oral, concerning or relating to the subject matter of this Option Agreement.
9.5 California Law. This Option Agreement shall be governed by the laws of
the State of California and any question arising hereunder shall be construed or determined according
to such laws.
]552\04\5%613.1
. .
3414
9.6 Time of the Essence. Time is of the essence of each and every provision of
this Option Agreement.
9.7 Counterparts. This Option Agreement may be signed by the Parties hereto
in duplicate counterparts which together shall constitute one and the same agrecment between the
Partics and shall become effective at such time as both of the Parties shall have signed such
counterparts.
9.8 Attorneys' Fees. If either Party commences an action against the other to
enforce any of the terms hereof or because of the breach by either Party of any of the terms hereof,
the losing Party shall pay to the prevailing Party reasonable attorneys' fees, costs and expenses
incurred in connection with the prosecution or defensc of such action, including appeal of and/or
enforcement of a judgmcnt.
9.9 Computation of Time. All periods of time referred to in this Option
Agreement shall include all Saturdays. Sundays and state or national holidays, unless the period of
time is specified as business days (which shall not include Saturdays, Sundays and slate or national
holidays), provided that if the date or last date to perform any act or give any notice with respect to
this Option Agreement shall fall on a Saturday, Sunday or state or national holiday, such act or notice
may be timely performed or given on the next succeeding day which is not a Saturday, Sunday or
state or national holiday
9.10 Definition of Terms. Terms not otherwise defined in this Option Agreement
are defined in the DDA.
[Signatures on following pagcJ
lS)2\o4\S9bD 13.]
. . 3415
IN WITNESS WHEREOF. this Option Agreement is executed by the Parties hereto on the
date first above written.
AGENCY:
POWA Y REDEVELOPMENT AGENCY, a public
body corporate and politic
By P i (~ctoR"
~ern C:.bLJ... \ ct. cOt.e.a.cfl tv<....
ATTEST:
APPROVED AS TO FORM:
~"))I ~~
Goldttrb and Lipman. L
Age~cy Special Counsel
DEVELOPER:
POWA Y MEADOWS, L.P., a California limited
partnership
By' Loma Verde. Inc., a California corporation, its
General Partner
By'
Jason S Khoury, President
By'
Dennis M. ferdig. Executive Vice
President
1';;'l2\04\5966 u. J
'" . .
3416
IN WITNESS WHERE()F;.,this Option Agreement iscexecutedby the Parties' hereto on,the
date first,above written.
AGENCY:
POW A Y REDEY,ELOPMENT AGENCY, a public
body, corporate'and politic
Sy
ATTEST:
AgencySecretary
APPROVED AS TO FORM.
Goldfarb and Lipman,. LLP
Agency Special Counsel
DEVELOPER:
POWAY MEADOWS, L.P., a California limited
partnership
By' LomaVerde,. nc., California corporat;on, its
Generai Partner
Sy' \
Jason B miry, President
By'
Dennis M. Ferdig, Exec
President
Error! Unknown document' property name.
. . 3417
CALlFORNIA~LL~PURPOSE ACKNOWLED~MENT
~ -- :: :...::--.- ....~ =- - -:~~~ -=-~t~,"" - ~:-:: ~~-
State of California }
County of Si'ln niRon
on~~~/2mg before me Shell"'y (;"lliI")5 .t.!~t"'rll PIIIVirc
(lQ~Dld a ' '" ""'rt ,me., Woofth.OO""
personally appeared
Name(s)of Slgner(sl
who proved to me on the basis of satisfactory evidence to
- - a... - !!~~o?uiN\.' -I be the person,(gf whose name~/are subscribed to the
je -. n.,." within instrument and acknowledged to me that
i NOIGtY - . California I ~lleIlftey executed the same in ~el:tl ,dr authorized
San DIogo county . c pacity(~ and thatby~ir signalure.(5) on the
,~ _ _ _ ~ _~:.:~~~~~_' _I instrument the perso~, or the entity upon behalf of
which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws
of the State of California that the foregoing paragraph is
true and correct.
WITNESS ~nd and official seal.
Place NOlary Seal Above Signature 1 ~ ~ ~AMG
- rgn or alary Public
OPTIONAL
Though the information below is not required by laVY, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of Attached Document D ~ ~tllMi
Title or Type of Document: ,~t ~
DocumentDate:~~J(1J)D ~. J Number of Pages:
M.W~_
Signer(s) Other Than Named Above: -d al16Y\ . \l.\!Iffi,tv~ ~ /1>rrw3
Capaclty(ies) Claimed by Signer(s)
Signer's Name: Signer's Name:
o Individual o Individual
o Corporate Officer - Title(s): o Corporate Officer - Trtle(s):
o Partner - 0 limited 0 General RIGHTTHUMBPRJNT o Partner - 0 Limited 0 General AIGHTTHUMBPRINT
o Attorney in Fact OF SIGNER o Attorney in Fact OF SIGNER
o Trustee lop of.lhumhhere o Trustee Top of thumb here
o Guardian or Conservator o Guardian or Conservator
o Other' o Other'
Signer Is Representing: Signer Is Representing:
_._ "V"~"-"_ _~._.~. __ . _~~ ~~
02007 NatroMl Notary AsSociatiOO. 9350 -De Solo Ave., P.O.Sox 2402 .Chatsworth, CA 91313-2402. www.NatlOl18fNotary.org /lem #5907 Aoorder.CaitTolI.Free l-B()()..876-6827
ACKNOWLEDGMEN.T 3418
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State. of California
Couhtyaf San Dieqa ) SS,
On September 4, 2008 before me, Juan J. Lara, Notary Public, personally appeared
Jason B. KhotlfY ,who proved to me on.,thebai?.is of satisfactory evidence
to be the person.(81 whose namre~ubscr'ibed to the within instrufllent and
acknowledged to me th~ executed the s"me i~/tre';lIleil authorized
capacity~, and that bi1lsJher/tl:1gir-signatures(sron.the instrument the persorlfar. or
the entity upon behalf ofliVhichthe perso~tted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing .iJaragraph is ,true and correct.
WITNESS my hand,and offrciaiseal. r--- -:~-dtAu-'l
. ........:. ."",' "
i .Noliuy PuDllC . C<ll~1IIo I
- . :1ICIrl~COUIIly
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,3eai1
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OPTIONALmFORMATION
Date of Document September 4 2008 Thumbprint of Signer
Type or Title of Do cum en I Opition Aoreement
Number of Pages in Document 7
Document in a Foreign Language NO
'Type of Satisfactory Evidence:'
~ f?efsonally'Known with -Papefldentificatiori
-i= Paper;ldentification
_ Credible,witness(es)
o Check here if
Capacity of Signer' no thumbprint
Trustee or fingerprint
_ Pbwer of Attorney is'available.
CEO;! CFO I COO
--::;c-: Pr""';geAt I Vice~President I Secretary I Treasurer
- Other'
Other'lnformation:
,,-
ACKNOWLEDGMENT 3419
......'..;..'.'~..~.........~......'..~..............'...............,.........'1
State of California
County of San Dieqo } SS,
On September 4,2008 beforecme.i Juan J. Lara, Notary Public, personally appeared
Dennis M. Ferdiq ,who proved to me on, the basis of satisfactory evidence
to be the person(s) whose 11C1I11.e~/are-subscrib!,d to ,the within instrument and
acknowledged io me th~.shg.qAeY executed the sameir(]JsLher/theirauthorized
capacitYi~, ,and that b . . r.1orttl ,dr signatureskeron .the instrument the personfsJ, or
the entity upon b,ehalf of which the 'person~cted, executed the iristrument.
I certify under PENALTY OF PERJURY under the laws ofthe.State of California that the
foregoing paragraph is true and correct. l@ ~:~,;,,<..
WITNESS my hand and official seal. . .~PuDlIc. CaIIfomIo
J ,lIan!lleloeOunt; I,
I. _ _ _ _~:.~~~_II..U ,
---~----
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II II II II ...:.'. II II ..... II ... II II II II a.'ii'IIi.'. .'. ..11. Ii II II II II II II II .:. II'. II .'. II II.. II II II II II II II'. II II II II II .:. II II II II II II II II.
OPTIONAL INFORMATION
DateofOocument September 4, 2008 Thumbprint of Signer
Type or Title.of Document Opition AQreement
Number of Pages in Document 7
Document in"a Foreign Language NO
Type of Satisfactory Evidence:
Per~onally Known with Paper Identification
,,/ Paper identificaticln
+-- ,Credible Witness( es) o Check here if
Capacity of Signer' no t~umbprint
Trustee or fingerprint
_ Power of Attorney i~,available.
~O/COO
.~:Presiden.'/MceoPresident I'Secretary I Treasurer
~ r----
Other.lnformation:
. EXHIBIT A .
3420
PARCEL A ASSESSORS PARCEL NO 314-213-18 5< 314-213-19
ALL THAT PORTION OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION
12, 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, BEING ALSO DESCRIBED AS A PORTION OF THE RESERVE TRACT OF
PIERMONT, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA,
ACCORDING TO MAP THEREOF NO 785, FILED IN THE OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY, AUGUST 4, 1894, TOGETHER WITH THOSE PORTIONS OF IRVING
AVENUE AND AN UNNAMED STREET ON THE WESTERLY SIDE OF SAID RESERVE TRACT, BOTH
CLOSED TO PUBLIC USE, AS DESCRIBED IN VARIOUS DEEDS OF RECORD FILED IN THE
OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS
COMMENCING AT A POINT ON THE CENTER LINE OF SAID IRVING AVENUE (CLOSED TO
PUBLIC USE) THAT BEARS NORTH 000 20' 08" WEST 451 30 FEET (NORTH PER DD) FROM
THE INTERSECTION OF SAID CENTER LINE OF IRVING AVENU~ WITH THE SOUTHERLY LINE
OF WINDSOR STREET (CLOSED TO PUBLIC USE) AS SHOWN ON SAID MAP NO 785; THENCE
NORTH 890 39' 52" EAST 30 00 TO THE EASTERLY RIGHT OF WAY LINE OF SAID IRVING
STREET (CLOSED) , SAID POINT BEING THE TRUE POINT OF BEGINNING; THENCE
RETRACING AND CONTINUING SOUTH 890 39' 52" WEST 270 49 FEET TO THE WESTERLY
LINE OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER, BEING ALSO A POINT ON
THE WESTERLY LINE OF SAID UNNAMED STREET (CLOSED TO PUBLIC USE) ; THENCE ALONG
SAID WESTERLY LINES NORTH 000 20' 38" WEST (NORTH PER DD) 169 92 FEET TO THE
NORTHWEST CORNER OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER; THENCE
ALONG THE NORTHERLY LINE OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER
SOUTH 890 24' 17" EAST 240 55 FEET (EAST 240 00 FEET PER DD) TO THE
INTERSECTION WITH THE CENTER LINE OF SAID IRVING AVENUE (CLOSED TO PUBLIC
USE) ; THENCE ALONG SAID CENTER LINE SOUTH 000 20' De" EAST (SOUTH PER DD) 7 13
FEET TO THE WESTERLY PROLONGATION OF THE NORTHERLY LINE OF BLOCK 25 OF SAID
PIERMONT ACCORDING TO MAP THEREOF NO 785; THENCE ALONG SAID WESTERLY
PROLONGATION NORTH 890 35' 55" EAST (EAST PER DD) 30 00 FEET TO SAID EASTERLY
RIGHT OF WAY LINE OF IRVING AVENUE; THENCE ALONG SAID EASTERLY RIGHT OF WAY
LINE SOUTH 000 20' 08" EAST (SOUTH PER DD) 158 91 FEET TO THE TRUE POINT OF
BEGINNING.
EXCEPTING THEREFROM 25 PERCENT OF ALL OIL, GAS AND MINERALS BENEATH SAID LAND
AS RESERVED IN BOOK 6014, PAGE 23 OF OFFICIAL RECORDS
EXCEPTING THEREFROM ONE-HALF OF ALL OIL, GAS AND MINERALS BENEATH SAID LAND,
AS RESERVED IN DEED RECORDED SEPTEMBER 16, 1955 IN BOOK 5795, PAGE 494 OF
OFFICIAL RECORDS
PARCEL Al
AN EASEMENT FOR INGRESS, EGRESS AND UTILITIES OVER, UNDER, ALONG AND ACROSS
THE FOLLOWING DESCRIBED LAND
THAT PORTION OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 12,
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, BEING ALSO DESCRIBED AS A PORTION OF BLOCK 25 OF PIERMONT, IN
THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP
THEREOF NO 785, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY,
AUGUST 4, 1894, TOGETHER WITH THOSE PORTIONS OF YORK AVENUE AND IRVING AVENUE,
CLOSED TO PUBLIC USE, AS DESCRIBED IN VARIOUS DEEDS OF RECORD FILED IN THE
OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS
- - - -- .~
. . .
3421
COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST
QUARTER; THENCE ALONG THE NORTHERLY LINE THEREOF SOUTH 89' 24' 17" EAST 440 67
FEET (EAST 440 00 FEET PER DD) TO THE INTERSECTION WITH THE CENTER LINE OF
SAID YORK AVENUE; THENCE ALONG SAID CENTER LINE OF YORK AVENUE SOUTH DO' 21'
08" EAST (SOUTH PER DD) 260 00 FEET TO THE SOUTHEAST CORNER OF LAND DESCRIBED
IN DEED TO WILLIAM H SMITH, ET UX, RECORDED MARCH 3, 1958 IN BOOK 6974, PAGE
190 OF OFFICIAL RECORDS, SAID POINT BEING THE TRUE POINT OF BEGINNING; THENCE
CONTINUING ALONG SAID CENTER LINE OF YORK AVENUE SOUTH DO' 21' DB" EAST ( SOUTH
PER DD) 20 00 FEET; THENCE SOUTH 89' 38' 52" WEST 170 18 FEET (WEST 170 00 FEET
PER DD) TO A POINT ON THE WESTERLY LINE OF SAID BLOCK 25, BEING ALSO A POINT
ON THE EASTERLY RIGHT OF WAY LINE OF IRVING AVENUE (CLOSED) ; THENCE ALONG SAID
EASTERLY RIGHT OF WAY LINE SOUTH DO' 20' 0811 EAST (SOUTH PER DD) 60 00 FEET;
THENCE SOUTH 89' 39' 52 n WEST (WEST PER DD) 30 00 FEET TO THE CENTER LINE OF
SAID IRVING AVENUE (CLOSED) ; THENCE ALONG SAID CENTER LINE NORTH DO' 20' 08"
WEST (NORTH PER DD) 177 29 FEET TO A POINT ON THE CENTER LINE OF SAID IRVING
AVENUE THAT BEARS NORTH DO' 20' 08" WEST (NORTH PER DD) 451 30 FEET FROM THE
INTERSECTION OF SAID CENTER LINE WITH THE SOUTHERLY LINE OF WINDSOR STREET
(CLOSED TO PUBLIC USE) AS SHOWN ON SAID MAP NO 785; THENCE NORTH 89' 39' 52 n
EAST (EAST PER DD) 30 00 FEET TO SAID EASTERLY RIGHT OF WAY LINE OF IRVING
AVENUE; THENCE ALONG SAID EASTERLY RIGHT OF WAY LINE SOUTH 00' 20' 08" EAST
(SOUTH PER DD) 97 29 FEET TO AN INTERSECTION WITH A LINE THAT BEARS SOUTH 89'
38' 5211 WEST (WEST PER DD) FROM THE TRUE POINT OF BEGINNING; THENCS NORTH 890
38 ' 52" EAST 170 17 FEET (WEST 170 00 FEET PER DD) TO THE TRUE POINT OF
BEGINN~NG
SAID EASEMENT WILL NOT BECOME A LEGAL EASEMENT UNTIL GRANTED/RESERVED IN A
FUTURE CONVEY ACE
PARCEL B ASSESSORS PARCEL NO 314-213-20
ALL THAT PORTION OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION
12, TOWNSHIP 14 SOUTH, RANGE 2 WEST, SAN BERNARDINO MERIDIAN, IN THE CITY OF
POWAY, COUNTY OF S~~ DIEGO, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL
PLAT THEREOF, BEING ALSO DESCRIBED AS A PORTION OF THE RESERVE TRACT OF
PIERMONT, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA,
ACCORDING TO MAP THEREOF NO 785, FILED IN THE OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY, AUGUST 4, 1894, TOGETHER WITH THOSE PORTIONS OF IRVING
AVENUE AND AN UNNAMED STREET ON THE WESTERLY SIDE OF SAID RESERVE TRACT, BOTH
CLOSED TO PUBLIC USE, .AS DESCRIBED IN VARIOUS DEEDS OF RECORD (DD) FILED IN
THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS
COMMENCING AT A POINT ON THE CENTER LINE OF SAID IRVING AVENUE (CLOSED TO
PUBLIC USE) THAT BEARS NORTH 000 20' 08" WEST (NORTH PER DD) 451 30 FEET FROM
THE INTERSECTION OF SAID CENTER LINE OF IRVING AVENUE WITH THE SOUTHERLY LINE
OF WINDSOR STREET (CLOSED TO PUBLIC USE) AS SHOWN ON SAID MAP NO 785; THENCE
NORTH 890 39' 5211 EAST (EAST PER DD) 30 00 FEET TO THE EASTERLY RIGHT OF WAY
LINE OF SAID IRVING STREET (CLOSED) , SAID POINT BEING THE TRUE POINT OF
BEGINNING; THENCE ALONG SAID EASTERLY RIGHT OF WAY LINE SOUTH 000 20' 08" EAST
(SOUTH PER DD) 88 00 FEET; THENCE SOUTH 890 39' 5211 WEST (WEST PER DD) 270 48
FEET TO THE WESTERLY LINE OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER,
BEING ALSO ON THE WESTERLY LINE OF SAID UNNAMED STREET (CLOSED TO PUBLIC USE);
THENCE ALONG SAID WESTERLY LINE NORTH 000 20' 38" WEST (NORTH PER DD) 88 00
FEET TO AN INTERSECTION WITH A LINE THAT BEARS SOUTH 890 39' 52" WEST FROM THE
TRUE POINT OF BEGINNING; THENCE NORTH 890 39' 52" EAST 270 49 FEET TO THE TRUE
POINT OF BEGINNING
EXCEPTING THEREFROM 25 PERCENT OF ALL OIL, GAS AND MINERALS BENEATH SAID LAND
, . . . .
.. 3422
.
AS RESERVED IN BOOK 6014, PAGE 23 OF OFFICIAL RECORDS
EXCEPTING THEREFROM ONE-HALF OF ALL OIL, GAS AND MINERALS BENEATH SAID LAND,
AS RESERVED IN DEED RECORDED SEPTEMBER 16, 1955 IN BOOK 494, PAGE 494 OF
OFFICIAL RECORDS
PARCEL Bl
AN EASEMENT FOR INGRESS, EGRESS, AND UTILITIES OVER, UNDER, ALONG AND THROUGH
THE FOLLOWING DESCRIBED LAND
THAT PORTION OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 12,
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, BEING ALSO DESCRIBED AS A PORTION' OF BLOCK 25 OF PIERMONT, IN
THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP
THEREOF NO 785, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY,
AUGUST 4, 1894, TOGETHER WITH THOSE PORTIONS OF YORK AVENUE AND IRVING AVENUE,
AS DESCRIBED IN VARIOUS DEEDS OF RECORD (DD) FILED IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY, CLOSED TO PUBLIC USE DESCRIBED AS FOLLOWS
COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST
QUARTER; THENCE ALONG THE NORTHERLY LINE THEREOF SOUTH 890 24' 17" EAST 440 67
FEET (WEST 440 00 FEET PER DD) TO THE INTERSECTION WITH THE CENTER LINE OF
SAID YORK AVENUE; THENCE ALONG SAID CENTER LINE OF YORK AVENUE SOUTH 000 21'
08" EAST (SOUTH PER DD) 260 00 FEET TO THE SOUTHEAST CORNER OF LAND DESCRIBED
IN DEED TO WILLIAM H SMITH, ET UX/ RECORDED MARCH 3, 1958 IN BOOK 6974, PAGE
190 OF OFFICIAL RECORDS, SAID POINT BEING THE .TRUE POINT OF BEGINNING; THENCE
CONTINUING ALONG SAID CENTER LINE OF YORK AVENUE SOUTH 000 21 ' 08" EAST ( SOUTH
PER DD) 20 00 FEET; THENCE SOUTH 890 38' 52" WEST 170 18 FEET (WEST 170 00 FEET
PER DD) TO A POINT ON THE WESTERLY LINE OF SAID BLOCK 25, BEING ALSO A POINT
ON THE EASTERLY RIGHT OF WAY LINEOF IRVING AVENUE (CLOSED) ; THENCE ALONG SAID
EASTERLY RIGHT OF WAY LINE SOUTH 000 20' 0811 EAST (SOUTH PER DD) 60 00 FEET;
THENCE SOUTH 890 39' 5211 WEST (WEST PER DD) 30 00 FEET TO THE CENTER LINE OF
SAID IRVING AVENUE (CLOSED) ; THENCE ALONG SOUTH CENTER LINE NORTH 000 20' 08"
WEST (NORTH PER DD) 89 29 FEET TO A POINT ON THE CENTER LINE OF SAID IRVING
AVENUE THAT BEARS NORTH 000 20' 0811 WEST (NORTH PER DD) 363 30 FEET FROM THE
INTERSECTION OF SAID CENTER LINE WITH THE SOUTHERLY LINE OF WINDSOR STREET
(CLOSED TO PUBLIC USE) AS SHOWN ON SAID MAP NO 785; THENCE NORTH 890 39' 5211
EAST 30 00 FEET TO SAID EASTERLY RIGHT OF WAY LINE OF IRVING AVENUE; THENCE
ALONG SAID EASTERLY RIGHT OF WAY LINE SOUTH 000 20' 08" EAST (SOUTH PER DD)
9 29 FEET TO AN INTERSECTION WITH A LINE THAT BEARS SOUTH 890 38' 52" WEST
(WEST PER DD) FROM THE TRUE POINT OF BEGINNING; THENCE NORTH 890 38' 52" EAST
170 17 FEET (EAST 170 00 FEET PER DD) TO THE TRUE POINT OF BEGINNING
SAID EASEMENT WILL NOT BECOME A LEGAL EASEMENT UNTIL GRANTED/RESERVED IN A
FUTURE CONVEYACE
PARCEL C ASSESSORS PARCEL NO 314-213-21
ALL THAT PORTION OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION
12, 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, BEING ALSO DESCRIBED AS A PORTION OF LOT 6 IN BLOCK 25, AND A
PORTION OF THE RESERVE TRACT OF PIERMONT, IN THE CITY OF POWAY, COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO 785, FILED IN THE
OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, AUGUST 4, 1894, TOGETHER
. . . 3423 \~
WITH THOSE PORTIONS OF YORK AVENUE, IRVING AVENUE AND l'-ll UNNl>.MED STREET ON THE
, WESTERLY LINE OF SAID RESERVE T~~CT, ALL CLOSED TO PUBLIC USE, AS DESCRIBED IN
VARIOUS DEEDS OF RECORD (DD) , FILED IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS
CO~~ENCING AT THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST
QUARTER; THENCE ALONG THE NORTHERLY LINE THEREOF SOUTH 89' 24' 17" EAST 440 67
FEET (EP.ST 440 0 FEET PER DD) TO THE INTERSECTION WITH THE CENTER LINE OF SAID
YORK AVENUE; THENCE ALONG SAID CENTER LINE OF YORK AVENUE SOUTH 00' 21' 0811
EAST I SOUTH PER DD) 260 00 FEET TO THE SOUTHEAST CORNER OF LAND DESCRIBED IN
DEED TO WILLIAM H SMITH, ET UX/ RECORDED MARCH 3, 1958 IN BOOK 6974, PAGE 190
OF OFFICIAL RECORDS, SAID POINT BEING THE TRUE POINT OF BEGINNING, THENCE
CONTINUING ALONG SAID CENTER LINE OF YORK AVENUE SOUTH 00' 21 ' 0811 EAST ( SOUTH
PER DD) 20 00 FEET; THENCE SOUTH 89' 38' 52" WEST 170 18 FEET (WEST 170 00 FEET
PER DD) TO A POINT ON THE WESTERLY LINE OF SAID BLOCK 25, BEING ALSO A POINT
ON THE EASTERLY RIGHT OF WAY LINE OF IRVING AVENUE (CLOSED) ; THENCE ALONG SAID
EASTERLY RIGHT OF WAY LINE SOUTH 00' 20' 0811 EAST (SOUTH PER DD) 60 00 FEET;
THENCE SOUTH 89' 39' 52!! WEST (WEST PER DD) 30 00 FEET TO A POINT ON THE CENTER
LINE OF SAID IRVING AVENUE THAT BEARS NORTH 00' 20 ' 0811 WEST (NORTH PER DD)
274 01 FEET FROM THE INTERSECTION OF SAID CENTER LINE OF IRVING AVENUE WITH
THE SOUTHERLY LINE OF WINDSOR STREET (CLOSED TO PUBLIC USE) AS SHOWN ON SAID
MAP NO 785; THENCE ALONG SAID CENTER LINE NORTH 00' 20' 0811 WEST (NORTH PER
DD) 1 29 FEET; THENCE SOUTH 89' 39' 52" WEST 240 47 FEET (WEST 240 00 FEET PER
DD) TO THE WESTERLY LINE OF SAID SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER,
BEING ALSO A POINT ON THE WESTERLY LINE OF SAID UNNAMED STREET (CLOSED TO
PUBLIC USE); THENCE ALONG SAID WESTERLY LINES NORTH 00' 20' 38" WEST (NORTH PER
DD) 88 00 FEET TO AN INTERSECTION WITH A LINE THAT BEARS SOUTH 89' 39' 52!! WEST
(WEST PER DD) FROM A POINT ON THE CENTER LINE OF SAID IRVING AVENUE THAT BEARS
NORTH 00' 20' 08" WEST (NORTH PER DD) 363 30 FEET FROM THE INTERSECTION OF SAID
CENTER LINE OF IRVING AVENUE WITH SAID SOUTHERLY LINE OF WINDSOR STREET
(CLOSED TO PUBLIC USE) AS SHOWN ON SAID MAP NO 785; THENCE NORTH 89' 39' 52"
EAST (EAST PER DD) 270 48 FEET TO SAID EASTERLY RIGHT OF WAY LINE OF IRVING
AVENUE; THENCE ALONG SAID EASTERLY RIGHT OF WAY LINE SOUTH 00' 20' 0811 EAST
(SOUTH PER DD) 9 29 FEET TO AN INTERSECTION WITH A LINE THAT BERAS SOUTH 89'
38' 52" WEST (WEST PER DD) FROM THE TRUE POINT OF BEGINNING; THENCE NORTH 89'
38' 52" EAST 170 17 FEET (EAST 170 00 FEET PER DD) TO THE TRUE POINT OF
BEGINNING
EXCEPTING THEREFROM 25 PERCENT OF ALL OIL, GAS I AND MINERALS BENEATH SAID Ll>~
AS RESERVED IN BOOK 6014, PAGE 23 OF OFFICIAL RECORDS
EXCEPTING THEREFROM ONE-HALF OF ALL OIL, GAS AND MINERALS BENEATH SAID LAND,
AS RESERVED IN DEED RECORDED SEPTEMBER 16, 1955 IN BOOK 5795, PAGE 494 OF
OFFICIAL RECORDS