Assignment, Delegation and Asumption of the Owner Participation Agreement as Amended 1996-0594396®-,' �►
C,
RECORDING REQUESTED BY:
a't1olp 1532
City of Poway
and
WHEN RECORDED MAIL TO:
City Clerk
,I n
City of Poway �
P.O. Box 789
Poway, California 92074
No Transfer Tax Due
A, � 1996-0594396
22 —NOV -1996 0 .�9 PM
RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
GREGORY SnITH, COUNTY RECORDER
RF: 14.00 _ FEES, 26.00
AF: 10.00
UF: 2.00
Above Space For Recorder's Use Only
ASSIGNMENT,
DELEGATION, AND ASSUMPTION
OF THE OWNER PARTICIPATION AGREEMENT AS AMENDED
BY AND BETWEEN
THE POWAY REDEVELOPMENT AGENCY,
AGENCY,
AND
TRIDENT HOMES OF CALIFORNIA, INC.
PARTICIPANT.
THIS ASSIGNMENT, DELEGATION AND ASSUMPTION OF THE OWNER PARTICIPATION
AGREEMENT AS AMENDED BY AND BETWEEN THE POWAY REDEVELOPMENT
AGENCY, AGENCY, AND TRIDENT HOMES OF CALIFORNIA, INC., PARTICIPANT,
("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 Poway Redevelopment Agency 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 Poway Redevelopment Agency
( "Agency ") are parties to the Owner Participation Agreement by and between the Poway
Redevelopment Agency, Agency, and McMillin Communities, Inc., a California corporation,
Participant, dated as of June 18, 1990, and recorded with the San Diego County Recorder on July
26, 1990, as Document No. 90- 408019, as amended by the Amendment to Owner Participation
Agreement on May 16, 1991, and recorded with the San Diego County Recorder on May 30, 1991,
as Document No. 1991- 0252919, and as amended by the Second Amendment to Owner Participation
Agreement on November 1, 1994, and recorded with the San Diego County Recorder on February
7, 1995, as Document No. 1995- 0055474 ( "Owner Participation Agreement ").
pppp-
J533
b. Shea Homes Limited Partnership holds all legal interest in a portion of the
property governed by the Owner Participation 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 Owner Participation Agreement to Shea Homes Limited
Partnership, only with respect to the Property and the obligation to relocate underground adjacent
to the new Pomerado Road the existing 12KV electric transmission line.
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 Owner Participation Agreement, only
with respect to the Property and the obligation to relocate underground adjacent to the new
Pomerado Road the existing 12KV electric transmission line.
4. RELEASE OF OBLIGATION: The Poway Redevelopment Agency hereby releases
Trident homes of California, Inc., from the obligations of the Owner Participation Agreement only
with respect to the Property and the obligation to relocate underground adjacent to the new
Pomerado Road the existing 12KV electric transmission line.
IN WITNESS WHEREOF, Trident Homes of California, Inc., Shea Homes Limited
Partnership and the Poway Redevelopment Agency have executed and delivered this Assignment,
Delegation and Assumption as of the date written above.
ATTEST:
POWAY REDEVELOPMENT AGENCY, a public
body, corporate and politic
By:
Chairman
Secretary
[Signatures continued on following page]
FL\ ... l sheatiomcAPoway135 \OPA_Agmt.Asn - 2 -
r •
[Signatures continued from preceding page]
APPROVED AS TO FORM AND SUBSTANCE:
Stephdn NJ!Eckis, Agency Counsel
1534
TRIDENT HOMES OF CALIFORNIA, INC., a
California corporation
By:
Its VACS 412 'c5 /DE I
SHEA HOMES LIMITED PARTNERSHIP, a
California limited partnership
BY: J. F. SHEA CO., INC., a Nevada
nA corporation, General Partner
\v "
By:
S
HA ... \ SheaHontesftwayI35\OPA_Agmt.Asn - 3 -
, Vice President
Gary Okonowsky, Assistant Secretary
.
r 0
STATE OF CALIFORNIA
ss.
COUNTY OF SAN DIEGO
On November 1, 1996 , before me,
1535
Susan L. Trimingham , Notary
Public, personally appeared Mary Brock and Gary Okonowsky , known to me
(or- pfeved- to- me-on- the - basis- e�ga +ts•€aetor�vadaw.ee to be the person(s) whose name(s) i are
subscribed to the within instrument and acknowledged to me that he /she the xecuted the same
in his/hevztheir uthorized capacity(ies), and that by hi s/he eEDs ignatures) 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 1�9 (Seal)
STATE OF CALIFORNIA )
) ss.
COUNTY OF ORANGE )
SUSAN L TRIMINGHAM
COMM. #987034
NOTARY PUBL
f SAN DIEGO CO NW
My Commission tes —�
MARCH 26, 1997
On NOVEMBER 7, 1996 , before me, JOSEPHINE C. CHIEN , Notary
Public, personally appeared DANIEL ZAU , known to me
(or�t ®n ig € # e idenee) to be the person( whose name(s�) is /am
subscribed to the within instrument and acknowledged to me that he /executed the same
in his /bodftir authorized capacity(, and that by his/Jae>htbRir signature(k) on the instrument,
the person(, or the entity upon behalf of which the person(j) acted, executed the instrument.
WITNESS my hand and official seal.
Signature �►^ L1�
r
HA ... \ShcaHomcs \Poway 135 \0PA_Agmt.Asn
JOSEPHINE C CHIEN
COMM. # 1015061 Z
(Seal) Z '� ; Notary PubUc — Callfomla
ORANGE COUNTY
MV Comm. Expires JAN 20.1998
LEGAL DESCRIPTION - EXHIBIT "A" TOTAL
1536
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 000 19' 53"
WEST, ALONG THE WESTERLY LINE THEREOF, 437.00 FEET; THENCE SOUTH 860 51' 34"
EAST, 283.36 FEET; THENCE SOUTH 850 53' 30" EAST, 261.05 FEET; THENCE SOUTH 890
50' 57" EAST, 360.53 FEET THENCE NORTH 52° 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.