Second Supplement to Deed Covenants 1997-0552034,Y ,
RECORDING REQUESTED
WHEN RECORDED RETURN TO:
CITY OF POWAY
13325 Civic Center Drive
Poway, CA 92064
Attention: Lori Anne Peoples.
Assistant City Clerk;
1709 JOC # 1997 - 0552034
NOV 03, 1997 3:50 PM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFF'
GREGORY J. SMITH, COUNTY RECT
FEES: 23.00
AN
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SECOND SUPPLEMENT TO DEED COVENANTS
This Second Supplement to Deed Covenants is made and entered
into as of the 14th day of July , 1997, by and between
ROGER A. MOHRHOFF, TRUSTEE OF THE MOHRHOFF FAMILY TRUST DATED
APRIL 16, 1987 ( "Mohrhoff "); CARL KARCHER ENTERPRISES, INC., a
California corporation ( "Purchaser "), and THE POWAY REDEVELOPMENT
AGENCY, a public body, corporate and politic of the State of
California ( "Agency ").
R E C I T A La
A. Mohrhoff is the owner of that certain real property
legally described as Parcels 3, 4, 6, 8, and 11, inclusive, of
Parcel Map No. 15808 in the City of Poway, County of San Diego,
State of California, as shown on a Map filed in Book 89- 510338,
Pages 16808 to 16813, inclusive, of Parcel Maps, County of San
Diego, California (the "R &R Parcels ").
B. Concurrently with the recordation of this instrument,
Mohrhoff is selling and conveying Parcel 8 of said Parcel Map No.
15808 (the "Purchaser Parcel ") to Purchaser.
C.- Parcels 3, 4, 6 and 11 of said Parcel Map No. 15808 are
hereinafter referred to as the "Mohrhoff Parcels."
D. A predecessor in interest to Mohrhoff acquired title to
the R &R Parcels from the Agency by Grant Deed recorded May 27,
1987, as Instrument No. 87- 290444 of Official. Records, San Diego
County, California (the "Grant Deed ") . The Grant Deed was executed
and delivered pursuant to that certain Disposition and Development
Agreement dated February 9, 1986, by and between said predecessor
in interest and the Agency as amended (the "DDA"). Pursuant to the
Grant Deed and the DDA, the covenants and agreements set forth in
the DDA will no longer be binding upon or enforceable against
successors in interest of R &R as the owners of the R &R Parcels
following the recordation of a Certificate of Completion executed
by the Agency. Said Certificate of Completion was executed by the
01MI6444-00IM090012.2 a07124M
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Agency and recorded on April 10, 1989, as Instrument No. 89- 186446
of Official. Records, San Diego County, California. Said
Certificate of Completion supplemented and amended the Grant Deed.
The Grant Deed has been further supplemented by that certain
Supplement To Deed Covenants And Approval To Conveyance recorded
November 28, 1994 as Instrument No. 1994- 0680392 of official
Records, San Diego County, California. The Grant Deed as
supplemented and amended by said Certificate of Completion and by
said Supplement To Deed Covenants And Approval To Conveyance is
hereinafter referred to as the "Amended Grant Deed."
E. Subject to the satisfaction of certain requirements,
Section 7 of the Amended Grant Deed obligates the owners of the
R &R Parcels to pay the Agency the amount by which (i) the real
property taxes for.any fiscal tax year that would have been levied
or assessed against the R&R Parcels, if the R&R Parcels had been
assessed for real property tax purposes at One Million Four Hundred
Sixty Thousand Dollars ($1,460,000.00) is greater than (ii) the
actual real property taxes levied or assessed against the
R&R Parcels, for such fiscal tax year. Section 7 further provides
that in the event any portion of the R &R Parcels is transferred or
sold separately, the parties owning such separate portions may
allocate the payment obligation imposed by Section 7 between their
respective interests in any reasonable manner approved by the
Agency, which approval by the Agency will not unreasonably be
withheld.
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. Section 7 Payment Obligation. Purchaser and Mohrhoff
hereby agree to allocate any payment obligation to the Agency
arising under Section 7 of the Amended Grant Deed allocated to the
R&R Parcels by the Amended Grant Deed as between the Parcels making
up the R &R Parcels, as follows:
(a) First, any such payment obligation under
Section 7 shall be calculated separately for the Mohrhoff
Parcels substituting Eight Hundred Ten Thousand Dollars
($810,000.00) for the One Million Four Hundred Sixty
Thousand Dollar ($1,460,000.000) amount under said
Section 7 and, second, said payment obligation shall be
calculated separately for the Purchaser Parcel
substituting Six Hundred Fifty Thousand Dollars
($650,000.00), for the One Million Four Hundred Sixty
Thousand Dollar ($1,460,000.00) amount used under
Section 7.
(b) Any such payment obligation to the Agency for
the R &R Parcels shall be allocated as among (i) the
Mohrhoff Parcels and (ii) the Purchaser-Parcel, whichever
has or have a separate payment obligation greater than
zero, as calculated under (a) above, in proportion to
said separate payment obligations. The fee owner or
owners of the Mohrhoff Parcels shall only be responsible
01VQ16 4 4 4-0010r4Mn.2 9=24197 -2-
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for the payment obligation allocated to the Mohrhoff
Parcels under this Paragraph (b) and not to any such
payment obligation allocated to the Purchaser Parcel
under this Paragraph (b). The fee owner or owners of the
Purchaser Parcel shall only be responsible for the
payment obligation allocated to the Purchaser Parcel
under this Paragraph (b) and not to any such payment
obligation allocated to the Mohrhoff Parcels under this
Paragraph (b).
The Agency hereby grants its approval to the above allocations
of the Section 7 payment obligation of. the R &R Parcels under the
Amended Grant Deed and agrees to look solely to the fee owner(s) of
the Purchaser Parcel for the payment of any such payment obligation
allocated to the Purchaser Parcel and solely to the fee owner(s) of
the Mohrhoff Parcels for the payment of any such payment obligation
allocated to the Mohrhoff Parcels. The Agency certifies to
Purchaser and agrees. that no payments are required under Section 7
of the Amended Grant Deed for the 1995 -96 real property tax year or
for any prior real property tax years with respect to the
R&R Parcels.
2. Certification. The Agency certifies to Purchaser that to
Agency's best actual knowledge Mohrhoff is not in default under the
Amended Grant Deed.
3. Reliance. The Agency and Mohrhoff acknowledge that
Purchaser will rely upon the ,terms and provisions of this
Instrument in acquiring title to the Purchaser Parcel.
4. Effective Date. The terms and provisions of this
Instrument shall become effective only upon (i) the recordation of
this Instrument in the Official Records of San Diego County,
California, and (ii) the recordation of a Grant Deed conveying
title to the Purchaser Parcel to Purchaser.
01&016444001013090012.2 207/24/97 -3-
•
IN WITNESS WHEREOF, the parties
Supplement to Deed Covenants as
herei na b ove set forth.
MOHRHOFF, TRUSTEE OF THE
MOHRHOFF FAMILY TRUST DATED
APRIL 16, 1987
ATTEST:
K 7A
Secre ar1�
APP OAS TO FORM:
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have duly executed this Second
of the day and year first
"Mchrhoff"
CARL KARCHER ENTERPRISES, INC., a
Californ' rporation
By: l�
Its:
vrc,� President. Corogate Rta
urc aser
THE POWAY REDEVELOPMENT AGENCY
By:
xec ive Director
"Agency"
McDougal, Love, Eckis and Grindle
Special ou 1 to the Agency
i
BY e /
Ste M. Eckis, ncy Counsel
001016U4-0910r7M12.3 aO7l14197
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STATE OF CALIFORNIA )
) ss.
COUNTY OF �� p,ey U )
On -, before
personally pp re ' 'gz5 �
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personally known to me
re Le.riAa�l to be the person W whose namej-s.) isfaxe subscribed
to the within instrument and acknowledged to me that h-4eke4t4iey—
executed the same in hi_,' j= � authorized capacity'(ies)-, and
that by hisfherftheir signature'(s.)`on the instrument the person
or the entity upon behalf of which the person't&j acted, executed
the instrument.
Witness my hand and official seal.
[SE A %hMvC*ffmEq*a3EP21.1998
VAMN MACM
CoMM.lI0=1
NOfMV PibiC - Cdfomb IM OEG0 Gown,
STATE OF CALIFORNIA
COUNTY OF
Notary Public
ss.
totV -yid.ence) to be the persons s} whose name} is /a-re subscribes
to the within instrument and acknowledged to me that he/
executed the same in his /he24the ir authorized capacity(-ies), and
that by his /hae-r-�r signaturels -- on the instrument the person.(a+
or the entity upon behalf of which the person W+ acted, executed
the instrument.
witness my hand and official seal.
yjj,t'Gi44;"A /i±
Notary Public
[SEAL]
MRGNA R. PARKER r
Canrninlai 11 W
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018/01644 -00! 013090012.2 a0724197 — —
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1714
STATE OF CALIFORNIA
COUNTY OF ORANGE
On August 4, 1997, before me, Barbara A. Bandoli, the undersigned Notary Public,
personally appeared CARL A. ARENA, Vice President, Real Estate, personally known to me to
be the person whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity as an officer of CARL KARCHER ENTERPRISES,
INC., a California corporation, and that by his signature on the instrument the person, or the
entity upon behalf of which the person acted, executed the instrument.
WITNESS my hand and official seal.
BARBARA A. BMIDOU
Corrvnlsson i 1061261
Notary pt" c — CcH n w
Orange County
My Comm. Expires Feb S. [090