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HomeMy WebLinkAboutNO. 1 TPFA T. LEGACY 08-05-02 TPFA 01 AGENDA REPORT o -o -o2 MEETING DATE: AUGUST 5, 2002 400-10 TO: FROM: SUBJECT: WILLIAM A. HUSTON, CITY MANAGER REDEVELOPMENT AGENCY STAFF PLANNING AREA 20, TUSTIN LEGACY- EXCLUSIVE AGREEMENT TO NEGOTIATE WITH JOHN LAING HOMES' SUMMARY On July 1,2002 the City Council directed staff to prepare an Exclusive Agreement to Negotiate .with John Laing Homes for the disposition and development of Planning Area 20 in the Tustin Legacy project. RECOMMENDATION It is recommended that the Tustin Public Financing Authority approve the attached Exclusive Agreement to Negotiate between the City of Tustin and the Tustin Public Financing Authority collectively referred to the "Agency" and the developer, WL Homes, LLC, a Delaware limited liability company doing business as John Laing Homes. FISCAL IMPACT John Laing Homes will deposit a $50,000 good faith deposit with the execution of the Exclusive Agreement to Negotiate. The intent of the negotiating period is to draft a Disposition and Development Agreement (DDA) for both the City Council's and Tustin Public Financing Authority's consideration which will include a purchase price and terms for acquisition of the property. Any fiscal impacts will be evaluated as part of the negotiation process on the DDA. BACKGROUND On July 1,2002 the City Council directed staff to prepare an Exclusive Agreement to Negotiate with the developer for the disposition and development of Planning Area 20 in the Tustin Legacy project. Currently vacant, the City-owned property is 25.3 acres which is located at the northwest corner of Edinger and Harvard Avenues. Adjacent to the site is a vacant 4.1 acre parcel owned by The Irvine Company, the purchase of this property will be discussed during the negotiating period for integration into the overall development of the site. The site is designated for medium-high density residential use (15-25 dwelling units per acre) in the MCAS Tustin Reuse Plan. Since the City may need to transfer the subject property to the Tustin Public Financing Authority prior to any agreement with the Developer on a DDA, approval of the Exclusive City Council RePort Tustin Legacy, Planning Area 20 - Exclusive Negotiation Agreement August 5, 2002 Page 2 of 2 Agreement to Negotiate by the Tustin Public Financing Authority in addition to the City of Tustin is also requested at this time Major issues that will be addressed in drafting the Disposition and Development Agreement include: · Purchase Price - The amount of the base purchase price and the participation price including the terms and conditions of conveyance will be established. · Scope of Development- The Developer will refine the concept/site plan, refine product design, adjust and refine the product mix, and conceptually design specific offsite improvements such as the proposed regional bike trail that is located on the northerly and easterly edges of the site. · Schedule of Performance - Milestone dates for completion of specific responsibilities required of the Agency and the Developer will be established. · Main Library Contribution - The terms and conditions for contributing $1.0 million by the Developer to the City of Tustin towards the construction of a new library will be established. · Adjacent Parcel- The terms and conditions for securing of the adjacent 4.1 acre parcel currently owned by The Irvine Company will be established. The exclusive negotiating period is for ninety days from the date the Agreement is executed by all parties. The negotiating period may be extended to permit approval of any DDA and for an additional time period if mutually agreed to by the representatives of both parties. ~~n Buchanan ~nior Project Manager Attachment RDA\CC Report\format.doc S:\RDA\RDA report~PA-20 - ENA (Laing).05.Aug.02.docpa-20 - ena (laing).05.aug.02.doc EXCLUSIVE AGREEMENT TO NEGOTIATE THIS EXCLUSIVE AGREEMENT TO NEGOTIATE ("Agreement") is entered into this m day of ., 2002 by and between THE CITY OF TUSTIN (the "City") and the Tustin Public Financing Authority (the "Authority), (collectively, the "Agency") and WL Homes LLC, a Delaware limited liability company doing business as John Laing Homes (the "Developer"). The Agency and the Developer are sometimes collectively referred to as the "Parties". RECITALS A. The City desires to encourage and effectuate the redevelopment of certain real property (the "Site") owned by the City located in the City of Tustin and which consists of that certain real property which is depicted on the "Site Map" attached hereto as Exhibit A and incorporated herein by reference. The City may transfer the Site to the Authority. To this end, the Agency desires to negotiate a Disposition and Development Agreement ("DDA") to have the Developer purchase the subject Site and construct a project on the Site. B. The Developer desires to acquire from the Agency an apprOximately 25.3 acre Si~e and has also indicated its intention to acquire an adjacent approximate 4.1 acre parcel owned by The Irvine Company. C. The Developer desires to negotiate a DDA that involves developing a residential ownership project (hereinafter refer~ed to as "Project") utilizing neotraditional urban design principles and traditional town planning concepts. The project as presented in Developer's Response to Agency's Request for Proposal ("RFP") would contain four product types: single family detached homes, townhouses, cluster townhouses and live-work units and a complete accompanying set of amenities. D. The Developer represents that it has the necessary expertise, experience and financial capability to undertake the development contemplated herein. E. The Developer represents and agrees that its intended acquisition of the Site and its other undertakings pursuant to this Agreement' shall be used for the timely development of the Site and not for speculation in land holding. F. The Parties desire, for the period set forth herein, to negotiate diligently and in good faith the terms and conditions of a DDA which will specify rights, obligations and method of participation of the Parties with respect to the sale and development of the Site. NOW THEREFORE, and in consideration of the recitals above and the mutual covenants hereinafter contained, the Parties agree as follows: 1.0 Negotiation 1.1 Good Faith Negotiations. The Agency will prepare the DDA and submit it to the Developer for review and comment. The Agency and the Developer agree for the period set forth in Cdd-rda/rda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2X24440.0000 Page 1 of 13 Section 1.2 to exclusively negotiate with one another diligently and in good faith to prepare a DDA and related documents to be entered into between the Agency and the Developer with respect to that area at the former Marine Corps Air Station (MCAS) Tustin which is designated as the Site on the Site Map. The negotiations shall address the parameters set forth in the MCAS Tustin Reuse Plan approved by the Tustin City Council, the Draft MCAS Tustin Specific Plan, the Request for Proposals (RFP) issued by the City for the Site and the responses thereto submitted by Developer up to and including July 1, 2002, and such other terms and conditions as the Parties deem necessary and desirable. 1.2 Period of Negotiations. A. The Parties agree to negotiate for a period of ninety (90) days from the date this Agreement is signed by all Parties, subject to extensions as further provided in this Section 1.2. If on the 90th day from the date of this Agreement (or within any extension of time mutually approved by the Parties in accordance with the terms of the Agreement), the Developer has not signed and submitted a DDA, then this Agreement shall automatically terminate. The Developer may request from the Agency an extension of the 90-day exclusive negotiation period. The Agency will determine whether reasonable and sufficient progress has been made toward fulfillment of the requirements of this Agreement in its consideration of any extension. The 90-day exclusive negotiation period may be extended by the mutual consent of the Parties for up to two (2) additionhl periods of thirty (30) days each and may be subject to further extensions pursuant to the provisions of paragraph D of this Section 1.2. The City a nd Authority e ach delegate to t he City Manager t he authority t o agree t o grm extensions. The City Manager may agree to grant an extension pursuant to this paragraph an paragraph D in the City Manager's sole and absolute discretion. Prior to granting any suc extension, the City Manager shall determine in the City Manager's sole and absolute discretio whether the Developer has negotiated diligently and in good faith and whether reasonable an sufficient progress has been made toward fulfillment of the requirements of this Agreement. No suc extension of time shall be effective unless it is in writing. B. If a DDA is signed and submitted by the Developer within the 90-day period (t within any extension of time mutually approved by the Parties in accordance with the terms Section 1.2A above), then this Agreement shall automatically be extended for sixty (60) days fro the date of such submittal by Developer to enable the Agency to (1) determine whether it desires enter into such a DDA, (2) take the actions necessary to authorize the Agency to sign the DDA if th Agency desires to do so, and (3) sign the DDA. C. If the Agency has not considered and approved the DDA by such 60th day or, at tl~ end of any extension mutually agreed upon by the Parties in writing, then this Agreement sha automatically terminate. D. In addition to and notwithstanding the provisions of paragraph A of this Section 1.~., in the event the Parties are unable to successfully complete the negotiation of the DDA within the 9( - day term of this Agreement as the result of circumstances not within the control of any of the Partk s (including but not limited to litigation brought by a third party or similar circumstances which interfere with the ability of the Parties to complete the DDA), any Party may request an extension.~f the term of this Agreement for such period of time as may reasonably be necessary under tl3e Cdd-rda/rda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2X24440.0000 Page 2 of 13 circumstances to conclude the negotiation of the DDA, approval of which request shall not b, unreasonably withheld, conditioned or delayed by the other Parties. 1.3 Good Faith Deposit A. Prior to the execution of this Agreement by the Agency, the Developer has submittel to the City a good faith deposit in the sum of fifty thousand dollars ($50,000) in the form of certified cashier's check or other form of security acceptable to the City to ensure that the Develop~ will proceed diligently and in good faith to negotiate and perform all of the Developer's obligation under this Agreement. If the deposit is in cash or a certified cashier's check it shall be deposited an account in a bank or trust company selected by the City. Interest, if any, shall be added to th~ deposit and held as additional security for the Developer's obligations hereunder. If the Parties ente into a DDA within the time period identified in Section 1.2 of this Agreement or any extensio] thereto, the City shall return the deposit to the Developer or apply it to any additional deposi required as security for the performance under the DDA. If the Parties fail to enter into a DDA wit'~ in the time period identified in Section 1.2 of this Agreement or any extension thereto, the City retain the deposit only if the Developer has not negotiated diligently or in good faith or has nc carded out its obligations under this Agreement. The Developer's failure to submit to the Agencl plans, reports, studies, investigations and materials specified in Sections 3.0 and 4.0 of thi Agreement within the time periods specified therein shall be deemed to demonstrate the Developer' failure to negotiate diligently and in good faith and its failure to carry out its obligations hereunde~ If t he Developer h as failed t o d o s o, inasmuch a s t he actual damages which would result from breach by the Developer of its obligations under this agreement are uncertain and would b impractical or extremely difficult to determine, the City shall be entitled to retain the entire origin~ amount of said deposit plus interest, if any, which has accrued thereon, as liquidated and agree. damages. The Developer may terminate the Agreement in the event that during the course the investigations and evaluation of the Site and Project, it determines in good faith that the Project not feasible or financeable. The City shall return the deposit (together with any interest accrm thereon) to the Developer upon termination of the Agreement in the event the Developer ha negotiated in good faith hereunder and materially complied with the terms hereof. / By the initials of their respective signatories hereunder, the City and the Developer acknowledge and agree that forfeiture of the original amount of the deposit (together with a.nV interest earned and accrued thereon) is not in lieu of any other relief, right or remedy to which the City might be entitled by reason of the Developer's default. Initials: Developer Developer City B. The Developer acknowledges that it is currently anticipated that the DDA shall require the deposit of an additional deposit in an amount to be determined as security for tl~e performance of the DeveloPer' s obligations under the DDA. C. In addition, it is currently anticipated that the DDA shall require the Developer to assume certain property maintenance costs of the Site as will be specified in the DDA. i Cdd-rdaYrda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2k24440.0000 Page 3 of 13 1.4 Due Diligence. Developer shall be entitled during the Negotiating Period to enter upon the Site at all reasonable times, upon reasonable advance notice to the Agency, for the purpose of obtaining data and conducting surveys and tests necessary to ascertain the condition of the Site. The Developer shall defend, indemnify and hold harmless the Agency and its officers, employeeS, agents and representatives from the exercise of its rights pursuant to this Section 1.4. : 2.0 Proposed Development Concept and Essential Terms and Conditions 2.1 The proposed development to be negotiated hereunder shall include the development and use of the Site consistent with the MCAS Tustin Reuse Plan, the Draft Specific Plan for MCA$ Tustin, the RFP issued by the Agency for the Site and the Developer's response to the RFP submitted to the Agency dated February 19, 2002, with conditions as may be herein identified. ' 2.2 The Parties agree that it is their intent, upon entry into this Agreement, to negotiate a DDA which is anticipated to address the following terms and conditions. A. The Developer shall acquire the Site from the City or Authority. The terms and conditions of this conveyance, including but not limited to the manner of conveyance, the conditions precedent to conveyance and the amount of the purchase price and any participation price, shall be determined as part of the negotiation of and detailed in the DDA and consistent with the methodology contained in the Developer's Business Plan as reviewed by the Agency. B. The Developer shall provide a $1,000,000 contribution to the City of Tustin towards construction of a new Tustin Branch Library in addition to any amount of purchase price and in conjunction with purchase of the Site. Said contribution will be in cash and will not be financed through an assessment or community facilities district. C. The Developer shall design and construct the development on the Site at its own cost and expense in accordance with a Scope of Development and a Schedule of Performance to be negotiated as part of the DDA and in accordance with plans and specifications prepared by the Developer and approved by the Agency in accordance with such Schedule of Performance and in compliance with all requirements and regulations of the City and, without limitation, applicable zoning. D. The Developer shall attempt to acquire an adjacent approximate 4.1 acre site from The Irvine Company. In connection with the negotiations to acquire such land, the Developer will engage in ongoing discussions with The Irvine Company regarding land use planning for such land, which may also include the discussion and transmission of information regarding the Site and the Project. Developer agrees that it will not release to the Irvine Compnay the business offer and Project financial pro forma information that Developer has provided City until after execution of a DDA E. The Developer has agreed to work with the Agency to modify the Project product mix to increase the number of detached single family homes in the Project. The Developer and the Agency acknowledge that this may reduce slightly the number of total units in the Project and impac:t the Project's Business Plan Financial Pro Forma. F. The Developer shall fully improve a proposed regional bike trail on the easterly and northern edges of the Site as part of development of the Site; provided that the Parties acknowledge Cdd-rda/rda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2~24440.0000 Page 4 of 13 that access rights from third party landowners would be necessary to construct such bike trail on the easterly edge of the Site. · t G. The Developer has agreed to provide a $4,960,000 contribution as the Site's fai share of the off-site MCAS Tustin back-bone infrastructure program, or will enter into an agreemen~ with the City not to oppose imposition of an Assessment District or Community Facilities District ox~ the Site established to finance the Site's $4,960,000 fair share obligations for MCAS Tustin backt bone infrastructure. Developer also acknowledges that the Site is subject to imposition of develop.e~ school impact fees by the Irvine Unified School District and may be subject to a future Communir~ Facilities District for financing of school facilities to benefit the Irvine Unified School District pursuant to an agreement Between the City of Tustin and the Irvine Unified School Distric' regarding the transfer of school site And other mitigation measures. H. The Developer shall prepare and process applications for and obtain from the City and other federal, state and local jurisdictions, all applicable land use, planning and zoning approvals for the proposed development with the support of the Agency. These entitlements will be required tol be consistent with the MCAS Tustin Reuse Plan approved for MCAS Tustin and the Draft MCAS Tustin Specific Plan or any final revisions approved by the City Council. I. The Developer has agreed to provide a total of 90 affordable dwelling units in th, Project to 27 very low income households, 16 low income households and 47 moderate incom, households; provided that such numbers may change if the total number of dwelling units in th, Project is modified as provided in paragraph E above. In the event the total number of dwelling unit in the Project is modified, the Developer shall provide a minimum of 15% of the dwelling units the Project to be affordable for very low to moderate income households, with 40% of these units t4 be affordable to very low income households, 24% to low income households and 36% to moderate income households. Additionally, 22 units shall b e provided to moderate income households t meet the City's housing needs The Developer has agreed to negotiate with the Agency the actual location by product type of these units. J. New development shall be completed within the guidelines of the land uses specifie(~ in the MCAS Tustin Reuse Plan and Draft Specific Plan. K. Project costs and revenues will be separately analyzed and funding of all project cost~ will be the responsibility of the Developer. L. The Developer anticipates implementation of the Project in accordance with the Agency's RFP/the Developer's Response to the RFP, the MCAS Tustin Reuse Plan and the Draft Specific Plan without the need for any expenditure by or loan from the Agency to the Developer. M. The closing of military bases during the last ten years has generated the need for redevelopment to be used as a means of overcoming the negative influences of these closings on communities. The expertise of the Agency is necessary in dealing with large multiple-use projects like MCAS Tustin. It is also essential that the Developer be experienced in redevelopment and understands the flexibility required to make redevelopment projects like MCAS Tustin successful for the public and the private sectors. 3.0 Developer's Responsibilities Cdd-rda/rda/MCASTustin John Laing/ENA/7.3 0.02 DOCSOC\912721 v2524440.0000 Page 5 of 13 During the period of negotiation, the Developer shall prepare and submit to the Agency the following: 3.1 Status Reports. The Developer agrees to make bi-weekly oral and/or written reports advising the Agency and/or its staff of all matters and studies being made, including the Developer's progress in analyzing the feasibility of the Project as may be requested by the Agency or its staff. 3.2 Development Team. The Developer shall, within ten (10) days of execution of this Agreement, submit in writing to the Agency full disclosure of the names of the Developer's agents, authorized negotiators, professional employees or other associates of Developer who may be participants in development of the Project and other relevant information concerning the above, such as addresses, teleph6ne numbers, employers. The Developer shall also designate and submit in writing to the Agency the names of all the Developer' s lead negotiators who shall have authority to make decisions on behalf of the Developer. 3.3 Financial Status. The Developer shall continue to be responsible for demonstrating to the Agency the financial capacity and capability to perform its obligations under this Agreement and the proposed DDA. The Developer shall submit any additional financial information of its key principal or principals as requested by the Agency within thirty (30) days of a request by this Agreement. The Developer shall identify with specificity the documents which the Developer wants the Agency to maintain as confidential documents and a statement as to why the request is consistent and complies with the provisions of the Public Records Act of the State of California. If confidentiality is requested and if nondisclosure under the Public Records Act is allowed, the documents shall be delivered to and maintained by the Agency and copies shall not be disseminated. To the extent permitted by law, the Agency shall not make public disclosure of the documents. The Agency's agents, negotiators and consultants may review the statements as necessary as long as such parties agree to maintain the confidentiality of such statements. If the Developer determines to joint venture or partner development of the Site, or if the Developer determines to form a new legal entity to develop the Site, the Developer shall promptly inform the Agency of such determination and submit to Agency the joint venture's or! partner's most recent financial statements and the financial statements of its key principals. The assignment of the Developer's rights under this Agreement to any new entity, parmership or joint venture may be approved in writing by the City and Authority, provided that each in its sole discretion, is satisfied that the new entity, parmership, or joint venture has the financial capability toi perform under this Agreement and the proposed DDA. 3.4 Design Review/Entitlements. It is understood and agreed to by the Developer that the quality, character and uses proposed for the Project are of particular importance to the Agency and that planning and design review approval and other entitlements by the City will be required for the development of the Site. The Developer and the proposed architect shall meet with representatives of the City to review and come to a clear understanding of the planning and design criteria required by the City. Within 20 days after the date of the execution of this Agreement, the ' Developer shall submit a schedule for entitlement processing. Within sixty (60) days after the date Of the Agency's execution of this Agreement, Developer shall submit for approval of the City, preliminary revised design drawings and related documents containing the overall plan for development of the Developer's Project including the following: preliminary site plan showing building layout and dimensions, parking, landscaping and access on or related to each individual Cdd-rdaJrda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2L24440.0000 Page 6 of 13 parcel, floor plans, preliminary materials call-outs and conceptual building renderings and a development schedule. 3.5 Project Financial Pro Forma. Within sixty (60) days after the date of this Agreement, Developer shall submit revised overall cost and revenue estimates, project cost and revenue data including information on Project's financial return adequate to enable the Agency to evaluate the Developer's Business offer and economic feasibility of the proposed development of the Project. The information submitted shall be in the same Business Plan format provided in response to the Request for Proposal. 3.6 Additional Information. The Developer understands and agrees that the Agency' s negotiating team reserves the right at any time to reasonably request from the Developer additional information, including information, data and commitments to ascertain the depth of the Developer's capability and desire to develop the Site expeditiously. The Agency's negotiating team will provide a reasonable time in which the Developer may obtain and submit to the Agency such additional information. 3.7 Contacts During Negotiation. The Developer shall only negotiate with the Agency's negotiating team as defined in writing by the Assistant City Manager and with no other persons unless expressly authorized to do so by the Agency's negotiating team. During the period of negotiations, the Developer shall make no statements to the media about the proposed Project without the approval of the Assistant City Manager. The Developer's failure to comply with the provisions of this Section shall be conclusive evidence that the Developer has not "negotiated in good faith." During the period of exclusive negotiation, the Agency covenants and agrees to negotiate exclusively with the Developer and shall not solicit another party for the Project or enter into any agreement with any other party regarding the development of the Site or any portion thereol The Agency acknowledges and agrees that but for this exclusivity, the Developer would not have entered into this Agreement. In the event a court of competent jurisdiction determines in a final decision that the Agency has breached this exclusivity covenant, the Agency shall be deemed to hav. failed to negotiate in good faith and providing a DDA has not been entered into pursuant to this Agreement, the Developer shall, in addition to other rights and remedies, be entitled to the return of the good faith deposit (together with interest accrued thereon) and any other deposits made by the Developer. 3.8 Environmental and Other Studies A. Environmental Requirements. Compliance with the California Environmental Quality Act ("CEQA") is a legal precondition to any final Agency action to approve and execute the DDA. The Developer shall cooperate with the Agency and abide by the Agency's environmental compliance procedures and fee requirements, which include but are not limited to the obligation to deposit funds to pay all of the Agency's costs of preparing any additional required environmental studies as may be determined. B. Plans, Reports, Studies and Investigations. The Developer shall provide the City, without cost or expense to the City, copies of all plans, reports, studies or investigations (collectively, "Plans") prepared by or on behalf of the Developer with respect to the Site and the Project. All Plans shall be prepared at the Developer's sole cost and expense. If this Agreement is Cdd-rdaYrda/MCASTustin John Laing/ENAJ7.30.02 DOCSOC\912721 v2~24440.0000 Page 7 of 13 terminated for any reason other than a material breach or default hereunder by the Agency, the Agency may request that the Developer, for consideration to be mutually agreed, transfer Developer's fights to any or all Plans identified by the Agency, but under no event shall the cost to the Agency exceed five hundred dollars ($500.00). Upon such request, the Developer shall deliver t( the Agency copies of all Plans requested by the Agency together with a bill of sale therefore, provided that Developer makes no representations, warrantee or guarantee regarding the completeness or accuracy of the Plans, and Developer does not covenant to convey the copyright or other ownership fights of third parties thereto. Such Plans shall thereupon be free of all claims or interests of the Developer or any liens or encumbrances. Upon the Agency's acquiring the Developer's fights to any or all of the Plans, the Agency shall be permitted to use, grant, license or otherwise dispose of such Plans to any person or entity for development of the Site or any other purpose; provided, however, that the Developer shaI1 have no liability whatsoever to the ~Agency or any transferee or title to the Plans in connection with the use of the Plans. The Agency shall, within ten (10) business days of execution of this Agreement and at no cost to the Developer, provide Developer with copies of all plans, reports, studies, investigations and other materials the Agency may have that are pertinent to the Site and/or development of the Project provided, however, that the Agency makes no representations, warrantee or guarantee regarding the completeness or accuracy of such plans, reports, studies, investigations and other materials. C. Hazardous Materials Assessment. The Parties acknowledge that, in accordance with the City of Tustin's recent acquisition of the Site from the Department of the Navy by quitclaim, the Department of the Navy found and determined that there was no contamination on the Site and issued a Finding of Suitability for Transfer ("FOST") dated February 28, 2001. Agency would intend upon approval of a DDA to sell and convey by quitclaim the Site to Developer in the same manner as the Site was conveyed to Agency to include the covenants and warranties as identified in the Navy's Quitclaim Deed attached hereto as Exhibit B and incorporated herein by reference. The Agency agrees to provide a copy of the FOST to Developer within 10 i days of execution of this Agreement. While the Developer should undertake its own investigation tO determine the presence of hazardous materials and suitability of the Site for development, the Partie~ acknowledge and agree that the Site shall be acquired "as is" and Developer shall release, defend, indemnify and hold Agency harmless with respect to the environmental and soils condition of the Site. The Agency agrees to negotiate with the Developer to add Developer as additional insured on the Agency's environmental insurance policy which covers the Site at a cost reimbursement to the Agency. 4.0 Purchase Price and Other Considerations The purchase Payment to be made by the Developer to the City or Authority will be established in the DDA. The purchase price and other financial considerations will be based upon such factors as market conditions, scope of development, cost of development, risks incurred, estimated or actual profit, public purpose, and other matters relevant to establishing the fair reuse value of the Site for the uses permitted to be developed. Cdd-rdaJrda/MCASTustin John Laing/ENA/7.30.02 DOCS OC\912721 v2X24440.0000 Page 8 of13 5.0 The Developer 5.1 Nature of the Developer. Developer will be WL Homes, LLC, doing business as John Laing Homes or such other business entity (such as another limited liability corporation) as the Agency may approve, upon terms and conditions as the Agency may request and the Parties may agree, as specified in the DDA. Concurrently with the executed DDA, Developer shall submit a copy of the applicable formation documents relating to Developer and any corporate members of Developer (i.e., as applicable: articles of incorporation; parmership agreement; and/or limited liability corporation articles of incorporation, statement of information and operating agreement). 5.2 Offices of the Developer. The principal offices of the Developer are located at 895 Dove Street, Suite 110, Newport Beach, CA 92660.' 5.3 Principals and Employees of the Developer A. The principals of the Developer are as follows: Larry Webb, Chief Executive Officer Steve Kabel, President, Southern California Region Mitchell Bradford, Vice President, Southern California Region g. The Developer's employees or representatives who will be directly involved in the development are as follows: Dan Nahabedian, Vice President Product Development Mitchell Bradford, Vice President Land Acquisition Marianne Browne, Vice President Sales & Marketing Ken Nishikawa, Vice President Project Management Jeff Herrmann, Vice President Finance Rich Nelson, Vice President Operations Abel Avalos, Infill Land Acquisition Manager Terry Crowther, Director of Community Development 5.4 The Developer's Consultants and Professionals The Developer's Response to Agency's RFP submitted to the City provided a list of the Developer's team of in-house project staff, consultants and professionals. A. The Developer is required to make full disclosure to the Agency of any changes to its principals, officers, stockholders, partners, joint venturers, Project employees, and other associates and all other pertinent information concerning the Developer and its associates. B. Developer agrees to substitute or supplement any of its consultants and professionals as reasonably requested by Agency. 6.0 The Developer's Financial Capacity 6.1 Financial Statement. Any additional financial statements of the Developer, if requested, shall be submitted to the Agency or its consultant as requested by the Agency for the purposes of this Agreement. Cdd-rda/rda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2~24440.0000 Page 9 of 13 6.2 Equity. The Developer proposes to obtain its equity capital in the following manner: In-house financing 6.3 Construction Financing. The Developer proposes to obtain its construction financing for the development from a reputable, institutional lender, as approved by the Agency. 6.4 Long-Term Development Financing. The Developer is capable of providing financing for the development of the subject site with(out) the necessity of third party financing. The Developer intends to commit to the provision of long-term development financing in the manner as specified in the DDA to the extent that third party financing is not otherwise advisable or available to implement the Redevelopment Plan. 6.5 Bank and Other Financial References. The Developer's bank and other financial references are as set forth in Developer's RFP submission. 6.6 Full Disclosure. The Developer will be required to make and maintain full disclosure to the Agency of the methods of financing and the financing documents to be used in the development. 7.0 Agency's Responsibilities 7.1 Environmental Requirements. A final Environmental Impact Statement/Environmental Impact Report ("EIS/EIR") has been prepared and certified for the MCAS Tustin Reuse Plan. The Developer agrees to finance and supply information and otherwise assist the Agency as requested to enable the Agency to determine the environmental impact of the proposed development under the DDA and to prepare such additional environmental documents, if any, as may be needed to be completed for the development. 7.2 Assistance and Cooperation. The Agency shall cooperate fully in providing the Developer with appropriate information and assistance. 7.3 Agency Approval. If the negotiations hereunder culminate in a DDA, such agreement becomes effective only after and if the agreement has been considered and approved by the legislative body of the Authority and City Council of the City after noticed public hearing. 8.0 Miscellaneous 8.1 Real Estate Commissions. Neither the City nor the Authority shall be liable for any real estate commission, finder's fee or any broker's fees which may arise from this Agreement. The City and the Authority each represent that they have not engaged any broker, agent, or finder in connection with this Agreement and the Developer agrees to hold the City and the Authority and their respective representatives harmless from any losses and liabilities arising from or in any way related to any claim by any broker, agent, or finder retained by the Developer regarding this Agreement or development of the Project or purchase/sale of other property at the Site. 8.2 No Agency Duty. Except as expressly provided above, the Agency shall have no obligations or duties hereunder and no liability whatsoever in the event the Parties fail to timely execute a DDA. Cdd-rda/rda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721v2~24440.0000 Page 10 of 13 8.3 Non-liability of Agency Officials and Employees. No member, official, representative, director, staff member, attorney or employee of the City or Authority shall be personally liable to the Developer or any successor in interest in the event of any default or breach by the City or Agency or for any amount which may become due to Developer or to its successor, or on any obligations under the terms of this Agreement. 8.4 Public Hearings and Compliance. If the negotiations hereunder culminate in the Developer and the Agency's negotiations concurring on the terms and provisions of a DDA, such DDA will be considered for approval by the Agency only after all required public hearings have been held and after compliance with all applicable laws and ordinances. The concurrence of the Agency negotiators with the terms and provisions of a proposed DDA under any provisions of this agreement shall not be construed or interpreted as the Agency approving or accepting such terms. Such concurrence shall be viewed as nothing more than the willingness of the Agency negotiators to recommend to the legislative body of the Authority and the City Council that they approve such terms. 8.5 Entire Agreement; Attorneys' Fees. This Agreement represents the entire agreement of the Parties with respect to the matters set forth herein and supersedes any prior negotiations or contemporaneous writings or statements. This Agreement may not be amended except in writing signed by each of the Parties hereunder. If any Party brings an action or files a proceeding in connection with the enforcement of its respective rights or as a consequence of any breach by the other Party of its obligations hereunder, then the prevailing Party in such action or proceeding shall be entitled to have its reasonable attorneys' fees and out-of-pocket expenditures paid by the losing Party. 8.6 Covenant Against Discrimination. The Developer shall not discriminate against nor segregate, any person or group of persons on account of sex, race, color, age, marital status, religion, handicaps, creed, national Origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Site, nor shall the Developer establish or permit any such practice or practices of discrimination or segregation in the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees of the Site. 8.7 Notices/Submittals. All notices or submittals required or permitted hereunder shall be delivered in person, by overnight courier, or by registered or certified mail, postage prepaid, return receipt requested to such Party at its address shown below, or to any other place designated in writing by such Party. City/Authority: Christine Shingleton, Assistant City Manager City of Tustin and Tustin Public Financing Authority 300 Centennial Way Tustin, CA 92780 Developer: Mitchell Bradford, Vice President John Laing Homes 895 Dove Street, Suite 110 Newport Beach, CA 92660 Cdd-rda/rda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2k24440.0000 Page 11 of 13 Any such notice or submittal shall be deemed received upon delivery if delivered personally, one (1) day after deliver to the courier if delivered by courier and three (3) days after deposit into the United States mail if delivered by registered or certified mail. 8.8 Prohibition Against Assignments. Except as may be permitted under Section 3.3, this Agreement shall not be assigned by the Developer. 8.9 Supersession by Disposition and Development Agreement. Following mutual execution by the Parties of a DDA, this Agreement shall be of no further force or effect. In the event of any conflict between the provisions of this Agreement and any DDA approved by the Parties, the provisions of the DDA shall for all purposes prevail. 8.10 Governing Law/Exclusive Venue. The Agreement shall be interpreted in accordance with California law. The Parties agree that in the event of litigation, exclusive venue shall be in Orange County, California. IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date set opposite their signatures. "CITY" City of Tustin Dated: By: Jeffery M. Thomas Mayor "TUSTIN PUBLIC FINANCING AUTHORITY" Dated: By: Cdd-rda/rda/MCASTustin John Laing/ENA/7.30.02 DOCSOC\912721 v2X24440.0000 Page 12 of 13 ATTEST: By: Dated: Pamela Stoker, City Clerk APPROVED AS TO FORM By: Lois Jeft~ey City Attorney Dated: "DEVELOPER" WL HOMES, LLC, a Delaware Limited Liability Company, dba John Laing Homes Dated: By: Steve Kabel President, Southern California Region Dated: By: Mitchell Bradford Vice President Cdd-rda/rda/MCASTustin John LaingFENA/7.30.02 DOCSOC\912721 v2X24440.0000 Page 13 of 13 EXHIBIT A SITE MAP "Not an official copy* EXHIBIT A ' SCALE: 1"=200' , PARCEL 2 ' ~ d ~'/~~ ._~m... /~// 10C ~4~3~ 2 ~ e /~-~- POr~ BLOOK ~2 ~ ~-~ S40'57'55"W 464.65 ~ _ ~ .__ ~ .... ~ C ~' *0~7'53'W 1,23.48 --~ ~] d HAnVARD [ AVE. . PARCCL I-A-I (PORTION 0FREUS[ P{./i,N D{SPOS{TIOH 51TE 3;)) . MCAS-TUSTIN '-~_,-c.~.£ i',.2oa'I II DR.'kFTED RAT =~,,'c~,~ L: DATE APRIL: 2002 JOB NUUgER 2TU5010200 Document: 2002-404591 Page: 1 EXHIBIT B QUITCLAIM DEED A AND ENVIRONMENTAL RESTRICTION PURSUANT TO CIVIL CODE SECTION 14'71 *No, t an official copy" lllECORDtNG REQUESTED BY FIRST AMERICAN TITLE COMPANY 8&IBDiVI$iON DEP~TMEtqT 1 2 3 4 5 6 7 8 9 10 11 12 t3 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 CITY OF TUSTIN.OFFICIAL BUSINESS REQUEST DOCUMENT TO BE RECORDED AND TO BE EXEMPT FROM RECORDING FEES PER GOVERNMENT CODE 6103 Recording requested by and when recorded mail to: City Manager The City of Tustin 300 Centennial Way Tustin, CA 92780 EXECUTION VERISON 5/10/02 Recorded in Official Records, County of Orange Darlene Bloom, Interim Clerk-Recorder l lll i lllli llllllllll[llilitltlll tltlill [llllilNO FEE 20020404591 04:30pm 05114t02 107 23 I~10 R29 12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 DOCU~ENTAP. Y TRANSFER X~.X $~,~ ~ [] Computed on full value of property conveyed, or El Computed on full value less liens & ~ncumbrances remaining thereon at tLme of sale. /~ ~i~Aiur. of declarant or .gant deferralS'rig tax, firm nam Space Above This Line ReServed for Recorder's Use QUITCLAIM DEED A AND ENVIRONMENTAL RESTRICTION PURSUANT TO CIVIL CODE SECTION 1471 This DEED is made this ay of 2002, by the UNITED STATES OF AMERICA, acting by and the Department of the Navy, (the ~'.~,:2. "GRANTOR") in favor of the CITY OF TUSTIN, CALIFORNIA the recognized local redevelopment authority for Marine Corps Air Station Tustin (the "GRANTEE"), ~..17 RECITALS: WHEREAS A. The GRANTEE has requested conveyance from the GRANTOR of a portion of' the former Marine Corps Air StatiOn Tustin, ("MCAS Tustin") which was closed pursuant to and in accordance with the Defense Base Closure and Realignment Act of 1990, as amended (Pub. L. No. 101-510; "Base Closure Act") and which is no longer required for military purposes; and B. The GRANTOR is' authorized to convey property at MCAS Tustin to the GRANTEE pursuant to the Base Closure Act; and .. C. The .GRANTOR has completed remedial actions on the property at MCAS Tustin to be conveyed to GRANTEE that are necessary to provide the covenant required by the Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA") 42 U.s.c. Section 9620 (h)(3)(A)(ii)(I); and 03-72538.06 Document: 2002-404591 Page: 1 "1~t0( ~[1 (JlllCli:ll copy" MCAS TUSTIN QUITCLAIM DEED A Page 2 1 2 3 4. 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 D. The GRANTOR has found and determined that the property at MCAS ?ustin to be conveyed to GRANTEE is suitable for transfer pursuant to Finding of Suitability for Transfer ("FOST") dated September 28,2001; and E. The GRANTOR and the GRANTEE have entered into the Agreement between the United States of America and the City of Tustin, California, for the Conveyance of a Portion of the Former Marine Corps Air Station Tustin (the "Agreement"), which sets forth' the terms and conditions of the conveyance of portions of MCAS Tustin fi.om the GRANTOR to the GRANTEE; and F. Pursuant to California Civil Code §1471, GRANTOR has determined that it is reasonably necessary to impose certain restrictions on the use of the Property to protect present and future human health or safety or the environment as a result of the presence of hazardous materials on portions of the Property described hereina~er with particularity. NOW THEREFORE, the GRANTOR, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does hereby remise, release and forever quitclaim to the GRANTEE, all of GRANTOR's right, tire and interest in and to that certain real property, comprising approximately 25.3 ac/es, more or less (hereinafter "Property"), as more particularly described as Parcel Parcel I-A-1 in Exhibit "A." 1. TOGETHER WITH: 1.1. All buildings, facilities, roadways, rail lines, and other infrastructure, including the entire MCAS Tustin storm drainage systems, sewer systems, and the electrical, natural gas, telephone, and water utility distribution systems located thereon, and any other improvements' on the Property, 1.2 All hereditaments and tenements therein and reversions, remainders, issues, profits, privileges and other fights belonging or related thereto, 1.3 All rights to minerals, gas, oil, and water. 2. SUBJECT TO THE FOLLOWING NOTICES, COVENANTS, RESTRICTIONS, AND CONDITIONS, which shall be binding upon and enforceable against the GRANTEE, its successors and assigns, in perpetuity: 2.1 The GRANTEE agrees to accept conveyance of the Property subject to all covenants, conditions, restr/cfions, easements, fights-of-way, reservations, rights, agreements, and encumbrances of record. 03-72538.06 Document: 2002-404591 Page: 2 'INOl. E~rl Olllr---,IE:ll copy' MCAS TUSTIN QUITCLAIM DEED A Page 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 '33 34 35 36 37 38 39 40 41 42 2.2 A FOST has been completed and an Environmental Baseline Survey ("EBS") report is referenced in the FOST. The FOST and EBS reference environmental conditions on the Property and on other property not subject to this Deed. GRANTEE acknowledges that it has received copies of the EBS and the FOST and that all documents referenced therein have. been made available to GRANTEE for inspection and copying. '2.3 Except as otherwise provided herein, or as otherwise provided by law, the GRANTEE acknowledges that it has inspected, is aware of, and accepts .the condition md state of repair of the Property, and that the Property is conveyed "as is" and "where is" without any representation, promise, agreement, or warranty on the part of the GRANTOR regarding such condition and state of repair, or regarding the making of any alterations, improvements, repairs or additions. Except for the environmental remediation which may be required to be undertaken by GRANTOR pursuant to paragraph 2.6 below, the GRANTEE further acknowledges that the GRANTOR shall not be liable for any latent or patent defects in the Property except to the extent required by applicable law. 2.4. Notices And Covenants: 2.4.1. Notices: Hazardous Substance Notification. Pursuant to 42 U.S.C. § 9620(h)(3)(A), and the provisions of 40 C.F.R. part 373, the Grantor has made a complete search of its files and records concerning the Property and hereby gives notice that based on that research no hazardous substances were stored, released, or disposed of on the Property. 2.4.2. Grant of Covenant [CERCLA 42 U,S.C. Section 9620 (h)(3)(A)(ii)(I)l. The GRANTOR covenants and warrants that all remedial action necessary to protect human health and the environment with respect t° any hazardous substance remaining on the Property has been taken before the date of transfer. 2.4.3. Additional Remediation Obligation [CERCLA 42 U.S,C. Section 9620 (h)(3)(A)(ii)(II)l. The GRANTOR covenants and warrants that GRANTOR shall conduct any additional remedial action found to be necessary after the date of transfer for any hazardous substance existing on the Property prior to the date of this Deed. This covenant shall not apply to the extent that the GRANTEE caused or contributed to any release or threatened release of any hazardous substance, pollutant, or contaminant. 2.4.4. Access [CERCLA 42 U.S.C. Section 9620 0a)(3)(A)(iii)]. In connection · with GRANTOR's covenant in 2.4.3 above and in connection with ongoing remediation on GRANTOR's property adjacent to the Property, GRANTEE agrees on behalf of itself, its successors and assigns, as a covenant mrming with the land, that GRANTOR, or its officers, agents, employees, contractors and subcontractors, shall have the fight, upon reasonable notice to GRANTEE, to enter upon the Property in any case in which a response or corrective action is found to be necessary at such property after the date of this deed or such access is necessary to 03-7253B.06 I I · I Document: 2002404591 Page: 3 *NOt an omc~a~ copy' MCAS TUSTIN QUITCLAIM DEED A Page 4 1 2 3 4 5~ 6 7 8 9 10 11 12 13 14 15 16 17 1'8 19 20 21 22 23 24 25 26 27 28 29 3O 31 32 33 34 35 36 37 38 39 40 41 42 carry out a response action or corrective action on adjoining property, Neither GRANTEE, nor its successors and assigns, shall have any claim on account of such entries against the United States or any of its officers, agents, employees, contractors or subcontractors. The fight to enter shall include the right to conduct tests, investigations and surveys, including, where necessary, drilling, test-pitting, boring and other similar activities. Such right shall also include the fight to construct, operate, maintain or undertake any other response or corrective action as required or necessary, including, but not limited to monitoring wells, pumping wells and treatment facilities, and the installation of associated utilities. In exercising these fights of access, except in case of imminent and substantial endangerment to human health or the environment, the GRANTOR (1) shall give the GRANTEE reasonable notice of any action to be taken related to such remedial or corrective actions on .the Property, and (2) make reasonable efforts to minimize interference with the on-going use of the Property. Furthermore, the GRANTOR and GRANTEE agree to cooperate in good faith to minimize any conflict between the necessary environmental investigation and remediation activities and the GRANTEE's use of the Property. Any inspection, survey, investigation or other response, corrective or remedial action undertaken by GRANTOR will, to the maximum extent practical, be coordinated with representatives designated by the GRANTEE. In connection with GRANTOR's remedial actions described above, GRANTEE agrees on behalf of itself, its successors and assigns, as a covenant nmning with the land, to comply with the provisions of any health or safety plan in effect during the course of any such action. 2.5. . Indemnification Regarding Transferees. The GRANTOR hereby recognizes its obligations under Section 330 of the National Defense Authorization Act of 1993 (Pub. L. 102- 484), as amended, regarding indemnification of transferees of closing Department of Defense property. 2.6. Non-Discrimination. GRANTEE covenants for itself, its successors and assigns, that it will comply with all applicable provisions of the Civil Rights Act of 1964, section 504 of the Rehabilitation Act of 1973, and the Age Discrimination in Employment Act of I975 in the use, occupancy, sale or lease of the Property. The foregoing shall not be construed to prohibit the operation of federal or state approved programs focusing on the special needs of the homeless, veterans, victims of domestic violence and other classes of persons at risk; nor shall it be construed to prohibit employment practices not otherwise prohibited by law. The GRANTOR shall be deemed a beneficiary of this covenant without regard to whether it remains the owner of any land or interest therein in the locality of the Property hereby conveyed and shall have the sole righi'to enforce this covenant in any court of competent jurisdiction. 3. FLOOD PLAIN NOTIFICATION: To the extent that any portion of the Property lies within a floodplain as defined in Section 6(c) of Executive Order No. 11988, Floodplain Management, dated May 24, 1977, construction, development and other uses of that portion of the Property could be restricted by the standards and criteria of the National Flood 03-72538.06 Document: 2002-404591 Page: 4 'Not an otticial copy' MCAS TUSTIN QUITCLAIM DEED A Page 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Insurance Program of the Federal Emergency Management Agency, or other applicable regulations. 4. NO HAZARD TO .4XR NAVIGATION: GRANTEE covenants for itself, its successors and assigns, that in connection with any construction or alteration on the Property, it will obtain a determination o£ no hazard to air navigation from the Federal Aviation Administration in accordance with Title 14, Code of Federal Regulations, part 77, entitled "Objects Affecting Navigable Airspace," or under the authority of the Federal Aviation Act of 1958, as amended. 5. THE CONDITIONS, RESTRICTIONS, RESERVATIONS, AND COVENANTS set forth herein are a binding servitude on the Property, shall inure to the benefit of GRANTOR and GKANTEE and their respective successors and assigns, and will be deemed to run with the land in perpetuity, pursuant to California Civil Code sections 1462 and 1471 and other applicable authority. 6. NOTICES: Notices shall be deemed sufficient under tkis Agreement if made in writing and submitted to the following addresses (or to any new or substitute address hereinafter specified, in a writing theretofore delivered in accordance with the notice procedure set forth herein by the intended recipient of such notice): If to the City: City of Tustin 300 Centennial Way · Tustin, California 92780 Attn: City Manager Christine Shingleton Assistant City Manager City of Tustin 300 Centennial Way Tustin, California 92780 With a copy to' · George R. Schlossberg, Esq. Kutak Rock LLP 1101 Connecticut Avenue, N.W. Suite 1000 Washington, DC 20036 03-72538.06 I Document: 2002-404591 Page: 5 "Not an ott~c~al copy' MCAS TUSTIN QUITCLAIM DEED A Page 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 1'5 16 17 18 19 20 21 22 23 24 25 26 27 28 If to Government: With a copy to: 7. EXItlBITS. Quitclaim Deed: 7.1. Exhibit "A" Commanding Officer Southwest Division Engineering Field Division Naval Facilities Engineering Command 1220 Pacific Highway San Diego, CA 92123-5189 Navy BP. AC Operations Office Attention BCM Tustin Southwest Division Naval Facilities Engineering Command '1220 Pacific Highway San Diego, CA 92123-5190 The following exhibit is attached hereto and made a part of this Legal Description and Plats of Property [signature Page FollOws] 03-72538.06 Document: 2002-404591 Page: "NOt an official copy' MCAS TUSTIN QUITCLAIM DEED A Page 7 1 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 IN WITNESS WHEREOF, thc GRANTOR has caused its name to be signed to these presents by an authorized Real Estate Contracting Officer on the day first above written. UNITED STATES OF~VlERICA, acting by and throu~ Departmcmt of the Navy, : William IL ~'arsa,lo Real Estate Contracting Officer Base Realimune~t & Closure Office Dated: '.. ~/~'~' ACKNOWLEDGEME~ OF GRANTEE'S COVENANTS TO INDICATE ACCEPTANCE of its. covenants and agreements contained in this Quitclaim Deed and receipt of the documents described herein, GRANTEE has executed this document on the date written below. 31 32 Attest' 34 3~Pamela Stoker 33~ CityClerk 38 Approved as to Form: 40 :':~ ~,/ 41 Lois Jeffre~ !fsi. ~ 42 City Attorney CITY OF TUSTIN By: William A. City Manager Dated: 03-72538,06 Document: 2002-404591 Page: 7 *Not an official copy* CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT · State of California County of ~ll.)~(fi~ Dale personally appeared SS. Name(s) of Signer(s) ~ personally known to me L_; proved to me on the basis of satisfactory evidence P~ace Notmy Seal Above to be the person~ whose name¢~'s~are subscribed to the within instrument and acknowledged to me,~h.,~at~. _ he/they executed the sam,e, in ¢_.j.Cher/their .,~-a..uthorized capacity({'e4s), and that by ' i~her/[heir 'signature(~)"on the instrument the person~), the entity upon behalf of which the person~") acted, executed the instrument. WITNES,$'Tny hand and official se~. Signature el Not~ublic OPTIONAL .............. Though lhe information below is not required by law, 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 D~~._ ~;~.. ~.~ Title or Type of Document'. ' ' ~._.(~'~ ~'~; ~ Document Date: J~D/~-~ Number of Pages: Signer(s) Other Than Named Above: ~ {~- Capacity(les) Claimed by Signer ,dSigner's Name: ~ [9 Individual Top of thumb here I"I Corporate Officer-- Title(s): ['_1 Partner--[-1 Limited [-~ General C.] Attorney in Fact U Trustee I/ Guardian or Conservator :'1 Other: Signer Is Representing: ~ ~ 997 Nadonal Notary Assaciebon - 9350 De Solo Ave., Re. Box 2402. Chatsworth, CA 91313-2402 Prod. NO, 5907Reorder: Call Toll-Free 1-800-B76-§827 8u'c_ Document: 2002-404591 Page: 8 'Not an otticial copy* CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County Of ~l~r.~L~~ ~ ss. On 5-, '~- O'~-"J. before me, ' ' Name and Ti~ ~ Officer (e.g,, "Jane Do~ Nota~ Public3 · Name(s) o¢ Signer(s) personally appeared I" i personally known to me .proved to me on the basis of satisfactory evidence to be the person(s) whose name(~/are subscribed to the with~ instrument and. acknowledged to me,,,t, ba.,t(~./bhetthey executed the same. in tbj. Cher/their .authorized capacity(~s), and that by (zj~/her/their signature~=a~ on the instrument the person~), o.r the entity upon behalf of which the person¢) acted, executed the instrument. WITNE~S'~y hand and official se, ak Place Notar,j Seal Above Signature of Nc~a~ Public - OPTIONAL Though the information below is not required by law, it may prove valUable to persons relying on the documen! and could prevent fraudulent removaJ and reattachment of this form to another document. Description of Attached Documeot I ~__ Title or Type of Document: ~V~~' '°4"r~ Document Date: ~'~ ~ ~ (~'''-' Number of Pages: Signer(s) Other Than Named Above: Iq( Capacity(les) Claimed by Signer ~igner's Name: x~ Individual r.i corporate officer -- Title(s): I';1 Partner-- [7. Limited '~ General ['1 Attorney in Fact 7-i Trustee I'"; Guardian or Conservator 1'3 Other: Top of thumb here 1997 National Nolary Asaocialion · 9350 Da Soto Ave., P.O, Box 2402. Chalsworlb, CA 91313-2402 Prod, No. 5907Reorder. Call Toll-Free 1-8OO-876-6827 Document: 2002-404591 Page: 9 'Not an official copy' tPSOMAS Legal Description' Exhibit "A" Parcel I-A-1 (Portion of Reuse Plan Disposition Site 33) 1 2 3 4 5 6 7 $ 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Parcel I-A-1 In the City of Tustin, CountY of Orange,'State of California, being all that portion of the land noted as Parcel TP-6A described in the Grant Deed recorded May 1, 1992 as Instrument Number 92-287556 and all that portion of the land described the Grant Deed recorded October 27, 1997, as Instrument Number 19970536329, both of Official Records of said County, in Block 62 of Irvine's Subdivision as shown on the map filed in Book 1, Page 88 of Miscellaneous Record Maps, and as shown on the map filed in Book 165, Pages 31 through 39 inclusive of Records of.Survey, all of the records of said County. Excepting therefrom the following Parcel 10A A strip of land 40.00 feet in width described as follows: The northwesterly 40.00 feet of the land described in said Instrument Number 92-287556. The side lines of said strip shall be lengthened or shortened so as to terminate northeasterly at the southwesterly boundary of the land described in Exhibits A-1 through A-3 of resolution No. 85-79 of the city Council of the City of Tustin recorded as Instrument No. 85-269319 of Official Records of said county, and so as to terminate southwesterly at the northeasterly line of parcel 2 in the easement deed to the City of Tustin recorded as Instrument No. 83-40[960 of Official ReCords of said County. Containing 1,102,22l square feet or 25.30 Acres more or less Page ~ of 2 f:ksurveysk2tusO10200\reporlsLrenumbered parcels\legal-pm'ce[ i-a-I .d~c 4/30i02 I1:44 AM Document: 2002-404591 Page: 10 *Not an official copy* PSOMAS Legal Description Exhibit "A" Parcel I-A-1 (Portion of Reuse Plan Disposition Site 33) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 As shown on Exhibit "B" aitached hereto and by this reference made a part hereof. Prepared under my supervision Walter A. Sheek P.L.S. 4838 Date Page 2 of 2 f:Lqurvcys~tus010200\rcports~renumbered parcels\legal-parcel i-a-I doc 4/30102 I 1:44 AM ; ~ ~ Document: 2002-404591 Page: 11 *Not an official copy* ,, EXHIBIT B / 0 1 oo 200 . ' SCALE: 1"=200' . O PARCEL012960.~ "'---' '"-'-' --'-" "---- ----_ / ~ ~~ N~28'25"E : ~ PARCEL l-A-1 ~l ~ 2s.3o *CRES ~ ~.~. NO. g2-~a755S 0.~. i ~.~o'OFE] / ~ · . I~ ~ · ~ t ~ HARVARD [ AVE. ~ ~ 2 Cl~ OF IRENE LOAT ~.-~ · ~ r~ P~ ~-~-~ (~ ~ P~ a~o~ m~ 3,) ~1 ~1 sc~ ~'=~6o' OR~O RAT MCAS TUSTIN P S O . A S :.,~. ,, ~4)~1-7~ r~l~)~ NUMBER 2~10200 Document: 2002-404591 Page: 12