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HomeMy WebLinkAboutAGENDA REPORT 2019 0320 CCSA REG ITEM 11BCITY OF MOORPARK, CALIFORNIA City Council Meeting of March 20, 2019 ACTION Adopted Ordinance No. 469. BY B.Garza B. Consider Ordinance No. 469 Approving Development Agreement No. 2013-01 by and between the City of Moorpark and Grand Pacific Asset 2 LLC for General Plan Amendment No. 2013-02, Zone Change No. 2013-02, and Residential Planned Development No. 2013-01, a 390-Unit Senior Community on 49.52 Acres North of Casey Road and West of Walnut Canyon Road. Staff Recommendation: Waive full reading, declare Ordinance No. 469 read for the second time, and adopted as read. ROLL CALL VOTE REQUIRED Item: 11.B. Item: 11.B. ORDINANCE NO. 469 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, APPROVING DEVELOPMENT AGREEMENT NO. 2013-01 BY AND BETWEEN THE CITY OF MOORPARK AND GRAND PACIFIC ASSET 2 LLC FOR GENERAL PLAN AMENDMENT NO. 2013-02, ZONE CHANGE NO. 2013-02, AND RESIDENTIAL PLANNED DEVELOPMENT NO. 2013- 01, A 390-UNIT SENIOR COMMUNITY ON 49.52 ACRES NORTH OF CASEY ROAD AND WEST OF WALNUT CANYON ROAD WHEREAS, Section 65864, Article 2.5, Chapter 4, Division 1, Title 7 of the State Planning and Zoning Law provides that cities may enter into contractual obligations known as Development Agreements with persons having equitable interest in real property for development of that property; and WHEREAS, on September 3, 2013, applications for General Plan Amendment No. 2013-02, Zone Change No. 2013-02, Residential Planned Development Permit No. 2013-01, and Development Agreement No. 2013-01 were filed by Ernie Mansi for Aldersgate Investment, LLC, for property owned by Grand Pacific Asset 2 LLC, for a proposed development for a 390-Unit Senior Community on 49.52 Acres North of Casey Road and West of Walnut Canyon Road; and WHEREAS, on November 27, 2018, the Planning Commission adopted Resolution No. PC-2018-634, recommending that the City Council adopt a Mitigated Negative Declaration and Mitigation Monitoring Program and approve General Plan Amendment No. 2013-02, Zone Change No. 2013-02, Residential Planned Development Permit No. 2013-01, and Development Agreement No. 2013-01, on the application of Ernie Mansi for Aldersgate Investment, LLC.; and WHEREAS, a duly noticed public hearing was conducted by the City Council on January 16, 2019, February 6, 2019, and March 6, 2019, to consider the Development Agreement and to accept public testimony related thereto; and WHEREAS, the City Council has considered all points of public testimony relevant to the Development Agreement and has given careful consideration to the content of the Development Agreement, and has reached a decision on the matter; and WHEREAS, on March 6, 2019, the City Council adopted Resolution No. 2019- 3792, adopting a Mitigated Negative Declaration and Mitigation Monitoring and Reporting Program and approving General Plan Amendment No. 2013-02 and introduced Ordinance No. 468, approving Zone Change No. 2013-02, for the project referenced above. 118 Ordinance No. 469 Page 2 NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES ORDAIN AS FOLLOWS: SECTION 1. The City Council of the City of Moorpark does hereby find as follows: A. The Development Agreement attached hereto and incorporated herein (Exhibit A) is consistent with the General Plan as most recently amended in that the project is consistent with the planned use and density of the General Plan Land Use Element and helps achieve the goals of the Housing Element and is consistent with the goals and policies of all other elements. There is no applicable Specific Plan for the area covered by the Development Agreement. B. The Development Agreement and the assurances that said agreement places upon the project are consistent with the provisions of Chapter 15.40 of the Moorpark Municipal Code because the Development Agreement contains the elements required by Section 15.40.030, has been reviewed and recommended by the Planning Commission following a noticed public hearing and otherwise contains the required contents and has been processed as required by law. SECTION 2. The City Council hereby adopts the Development Agreement attached hereto and incorporated herein (Exhibit A) between the City of Moorpark, a municipal corporation, and Grand Pacific Asset 2 LLC and the City Clerk is hereby directed to cause one copy of the signed, adopted agreement to be recorded with the County Recorder no later than ten (10) days after the City enters into the development agreement pursuant to the requirements of Government Code Section 65868.5. SECTION 3. Upon the effective date of this ordinance, the Community Development Director shall cause the property that is the subject of the Development Agreement to be identified on the Zoning Map of the City by the designation “DA” followed by the dates of the term of said Agreement. SECTION 4. If any section, subsection, sentence, clause, phrase, part or portion of this Ordinance is for any reason held to be invalid or unconstitutional by any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this Ordinance. The City Council declares that it would have adopted this Ordinance and each section, subsection, sentence, clause, phrase, part or portion thereof, irrespective of the fact that any one or more section, subsections, sentences, clauses, phrases, parts or portions be declared invalid or unconstitutional. 119 Ordinance No. 469 Page 3 SECTION 5. This Ordinance shall become effective thirty (30) days after its passage and adoption. SECTION 6. The City Clerk shall certify to the passage and adoption of this ordinance; shall enter the same in the book of original ordinances of said City; shall make a written record of the passage and adoption thereof in the minutes of the proceedings of the City Council at which the same is passed and adopted; and shall publish notice of adoption in the manner required by law. PASSED AND ADOPTED this 20th day of March, 2019. Janice S. Parvin, Mayor ATTEST: __________________________________ Maureen Benson, City Clerk EXHIBIT A: - Development Agreement 120 Ordinance No. 469 Page 4 EXHIBIT A DEVELOPMENT AGREEMENT NO. 2013-01 Recording Requested By And When Recorded Return to: CITY CLERK CITY OF MOORPARK 799 Moorpark Avenue Moorpark, California 93021 EXEMPT FROM RECORDER'S FEES Pursuant to Government Code § 6103 DEVELOPMENT AGREEMENT BY AND BETWEEN CITY OF MOORPARK AND GRAND PACIFIC ASSET 2 LLC 121 Ordinance No. 469 Page 5 DEVELOPMENT AGREEMENT This Development Agreement the ("Agreement") is made and entered into on ______________, 2019 by and between the CITY OF MOORPARK, a municipal corporation (referred to hereinafter as "City") and Grand Pacific Asset 2 LLC, the owner of real property within the City of Moorpark generally referred to as Residential Planned Development Permit 2013-01 (referred to hereinafter as "Developer"). City and Developer are referred to hereinafter individually as a "Party" and collectively as the "Parties." In consideration of the mutual covenants and agreements contained in this Agreement, City and Developer agree as follows: 1. Recitals. This Agreement is made with respect to the following facts and for th e following purposes, each of which is acknowledged as true and correct by the Parties: 1.1 Pursuant to Government Code Section 65864 et seq. and Moorpark Municipal Code Chapter 15.40, City is authorized to enter into a binding contractual agreement with any person having a legal or equitable interest in real property within its boundaries for the development of such property in order to establish certainty in the development process. 1.2 Grand Pacific Asset 2 LLC is the owner in fee simple of certain real property in the City of Moorpark identified in the legal description set forth in Exhibit “A”, which exhibit is attached hereto and incorporated by reference, referred to hereinafter collectively as the “Property”. 1.3 Prior to, and in connection with, the approval of this Agreement, the City Council reviewed the project to be developed pursuant to this Agreement as required by the California Environmental Quality Act (“CEQA.”) On March 6, 2019, the City Council adopted Resolution No. 2019-3792, adopting the Mitigated Negative Declaration (“MND”) and Mitigation Monitoring and Reporting Program the ("MMRP") prepared for this Agreement and the Project Approvals as defined in Subsection 1.4 of this Agreement. 1.4 General Plan Amendment (GPA) No. 2013-02, Zone Change (ZC) No. 2013-02, and Residential Planned Development (RPD) No. 2013-01, including all subsequently approved modifications and permit adjustments to the RPD and all amendments thereto (collectively "the Project Approvals"; individually "a Project Approval") provide for the development of the Property with a 390-unit senior housing community and the construction of certain off-site improvements in connection therewith ("the Project"). 122 Ordinance No. 469 Page 6 1.5 By this Agreement, City desires to obtain the binding agreement of Developer to develop the Property in accordance with the Project Approvals and this Agreement. In consideration thereof, City agrees to limit the future exercise of certain of its governmental and proprietary powers to the extent specified in this Agreement. 1.6 By this Agreement, Developer desires to obtain the binding agreement of City to permit the development of the Property in accordance with the Project Approvals and this Agreement. In consideration thereof, Developer agrees to waive its rights to legally challenge the limitations and conditions imposed upon the development of the Property pursuant to the Project Approvals and this Agreement and to provide the public benefits and improvements specified in this Agreement. 1.7 City and Developer acknowledge and agree that the consideration that is to be exchanged pursuant to this Agreement is fair, just and reasonable and that this Agreement is consistent with the General Plan of City, as currently amended. 1.8 On September 25, 2018, the Planning Commission commenced a duly noticed public hearing on this Agreement, and at the conclusion of the hearing on November 27, 2018 recommended approval of this Agreement. 1.9 On January 16, 2019, the City Council of City (“City Council”) commenced a duly noticed public hearing on this Agreement, and following the conclusion of the hearing on March 6, 2019 closed the hearing and introduced and provided first reading to Ordinance No. 469 (“the Enabling Ordinance”) that approves this Agreement. On March 20, 2019, the City Council gave second reading to and adopted the Enabling Ordinance. 2. Property Subject To This Agreement. All of the Property shall be subject to this Agreement. The Property may also be referred to hereinafter as "the site". 3. Binding Effect. The burdens of this Agreement are binding upon, and the benefits of the Agreement inure to, each Party and each successive successor in interest thereto (subject to Subsection 3.2 below) and constitute covenants that run with the Property. Whenever the terms "City" and "Developer" are used herein, such terms shall include every successive successor in interest thereto. 3.1 Constructive Notice and Acceptance. Every person who acquires any right, title or interest in or to any portion of the Property shall be conclusively deemed to have consented and agreed to be bound by this Agreement, whether or not any reference to the Agreement is contained in 123 Ordinance No. 469 Page 7 the instrument by which such person acquired such right, title or interest, subject to Subsection 3.2 below. 3.2 Release Upon Subsequent Transfer. Upon the conveyance of Developer’s interest in the Property or any portion thereof by Developer or its successor(s) in interest, the transferor shall be released from its obligations hereunder with respect to the portion of Property conveyed as of the effective date of the conveyance, provided that the transferee expressly assumes all obligations of the transferred portion of the Property and a copy of the executed assignment and assumption agreement is delivered to the City prior to the conveyance. Failure to provide a written assumption agreement hereunder shall not negate, modify or otherwise affect the liability of the transferee pursuant to this Agreement. Nothing contained herein shall be deemed to grant to City discretion to approve or deny any such conveyance, except as provided in Subsection 6.13 of this Agreement with respect to the sale of completed “affordable units” (as defined in that subsection) to qualified buyers. Notwithstanding the foregoing, this Agreement shall not be binding upon the transferee of a Completed Unit with respect to the transferee’s interest in such Completed Unit, and the rights and obligations of Developer under this Agreement shall not run with the portion of the Property that is conveyed with the Completed Unit after such conveyance of the Completed Unit by Developer or its successor in interest. For purposes of this Agreement, “Completed Unit” means a completed residential unit within the Property for which the City has issued a certificate of occupancy. 4. Development of the Property. The following provisions shall govern the subdivision, development and use of the Property. 4.1 Permitted Uses. The permitted and conditionally permitted uses of the Property shall be limited to those that are allowed by the Project Approvals and this Agreement. 4.2 Development Standards. All design and development standards, including but not limited to density or intensity of use and maximum height and size of buildings, that shall be applicable to the Property are set forth in the Project Approvals and this Agreement. 4.3 Building Standards. All construction on the Property shall adhere to all City building codes in effect at the time the plan check or permit is approved per Title 15 of the Moorpark Municipal Code and to any federal or state building requirements that are then in effect (collectively "the Building Codes"). 124 Ordinance No. 469 Page 8 4.4 Reservations and Dedications. All reservations and dedications of land for public purposes that are applicable to the Property are set forth in the Project Approvals and this Agreement. 5. Vesting of Development Rights. 5.1 Vested Right to Develop; Timing of Development. Developer and its successors in interest shall have the vested right to develop the Property in accordance with the terms and provisions of the Project Approvals and this Agreement. The Parties intend that this Agreement, together with the Project Approvals, shall serve as the controlling document for all subsequent actions, discretionary and ministerial, relating to the development and occupancy of the Property, including, without limitation, all Subsequent Approvals (as defined below). Developer shall have the right, without obligation, to develop the Property in such order and at such rate and times as Developer deems appropriate within the exercise of its subjective business judgment. No future amendment of any existing City ordinance or resolution, or future adoption of any ordinance, resolution or other action, that purports to limit the rate or timing of development over time or alter the sequencing of development phases, whether adopted or imposed by the City Council or through the initiative or referendum process, shall apply to the Property provided the Property is developed in accordance with the Project Approvals and this Agreement. Nothing in this subsection shall be construed to limit City's right to ensure that Developer timely provides al l infrastructure required by the Project Approvals, Subsequent Approvals, and this Agreement. 5.2 Amendment of Project Approvals. No amendment of any of the Project Approvals, whether adopted or approved by the City Council or through the initiative or referendum process, shall apply to any portion of the Property, unless the Developer has agreed in writing to the amendment. 5.3 Issuance of Subsequent Approvals. Applications for land use approvals, entitlements and permits, including without limitation subdivision maps (e.g. tentative, vesting tentative, parcel, vesting parcel, and final maps), subdivision improvement agreements and other agreements relating to the Project, lot line adjustments, preliminary and final planned development permits, use permits, design review approvals (e.g. site plans, architectural plans and landscaping plans), encroachment permits, and sewer and water connections that are necessary to or desirable for the development of the Project (collectively "the Subsequent Approvals"; individually "a Subsequent Approval") shall be consistent with the Project 125 Ordinance No. 469 Page 9 Approvals and this Agreement. For purposes of this Agreement, Subsequent Approvals do not include building permits. Subsequent Approvals shall be governed by the Project Approvals and by the applicable provisions of the Moorpark General Plan, the Moorpark Municipal Code and other City ordinances, resolutions, rules, regulations, policies, standards and requirements as most recently adopted or approved by the City Council or through the initiative or referendum process and in effect at the time that the application for the Subsequent Approval is deemed complete by City (collectively "City Laws"), except City Laws that: (a) change any permitted or conditionally permitted uses of t he Property from what is allowed by the Project Approvals; (b) limit or reduce the density or intensity of the Project, or any part thereof, or otherwise require any reduction in the number of proposed buildings or other improvements from what is allowed by the Project Approvals; (c) limit or control the rate, timing, phasing or sequencing of the approval, development or construction of all or any part of the Project in any manner, provided that all infrastructure required by the Project Approvals to serve the portion of the Property covered by the Subsequent Approval is in place or is scheduled to be in place prior to completion of construction; (d) are not uniformly applied on a citywide basis to all substantially similar types of development projects or to all properties with similar land use designations; (e) control residential rents; (f) prohibit or regulate development on slopes with grades greater than 20 percent, including without limitation Moorpark Municipal Code Chapter 17.38 or any successor thereto, within the Property; or (g) modify the land use from what is permitted by the City's General Plan Land Use Element at the Operative Date of this Agreement or that prohibits or restricts the establishment or expansion of urban services including but not limited to community sewer systems to the Project. 126 Ordinance No. 469 Page 10 5.4 Modification of Approvals. Throughout the term of this Agreement, Developer shall have the right, at its election and without risk to or waiver of any right that is vested in it pursuant to this Section, to apply to City for modifications to Project Approvals and Subsequent Approvals. The approval or conditional approval of any such modification shall not require an amendment to this Agreement, provided that, in addition to any other findings that may be required in order to approve or conditionally approve the modification, a finding is made that the modification is consistent with this Agreement and does not alter the permitted uses, density, intensity, maximum height, size of buildings or reservations and dedications as contained in the Project Approvals. Notwithstanding the foregoing or any provision of this Agreement to the contrary, Developer shall have the right, at its election and without risk to or waiver of any right that is vested in it pursuant to this Agreement, to apply to the City Manager for modifications to the product mix for the Project (i.e., to reasonably vary the number of Villas, Independent Living Apartments and Assisted Living and Memory Care Apartments, as well as the mix of studio, 1, and 2 bedroom unit mix), and the City Manager shall have the authority to approve such modifications administratively provided that they do not cause the maximum development density of the Project to exceed 390 units and such modifications does not exceed 15% of any one unit/product type (villas, Independent Living Apartments, Assisted Living and Memory Care Apartments, and 1, and 2 bedroom units). Modification of unit/product types of more than 15% shall require City Council approval. 5.5 Issuance of Building Permits. No Building Permit shall be unreasonably withheld or delayed from Developer if Developer is in compliance with this Agreement and the Project Approvals and Subsequent Approvals. In addition, no Final Building Permit final inspection or Certificate of Occupancy will be unreasonably withheld or delayed from Developer if all infrastructure required by the Project Approvals, Subsequent Approvals, and this Agreement to serve the portion of the Property covered by the Final Building Permit is in place or is scheduled to be in place prior to completion of construction, the Developer is in compliance with all provisions of this Agreement, the Project Approvals and Subsequent Approvals, and all of the other relevant provisions of the Project Approvals, Subsequent Approvals and this Agreement have been satisfied. Consistent with Subsection 5.1 of this Agreement, in no event shall building permits be allocated on any annual numerical basis or on any arbitrary allocation basis. 5.6 Moratorium on Development. Nothing in this Agreement shall prevent City, whether by the City Council or through the initiative or referendum process, from adopting or imposing a moratorium on the processing and 127 Ordinance No. 469 Page 11 issuance of Subsequent Approvals and building permits and on the finalizing of building permits by means of a final inspection or certificate of occupancy, provided that the moratorium is adopted or imposed (i) on a Citywide basis to all substantially similar types of development projects and properties with similar land use designations and (ii) as a result of a utility shortage or a reasonably foreseeable utility shortage including without limitation a shortage of water, sewer treatment capacity, electricity or natural gas. 6. Developer Agreements. 6.1 Development as a Residential Project. Developer shall comply with (i) this Agreement, (ii) the Project Approvals, (iii) all Subsequent Approvals for which it was the applicant or a successor in interest to the applicant and (iv) the MMRP of the MND and any subsequent or supplemental environmental actions. Developer agrees not to apply for any non- residential uses on the Property. The administrative and support offices, kitchen/dining facilities, personal care and service uses, sundries market, library, computer room, lounge, movie theater, bank, salon, recreational facilities and other structures and amenities to serve the residents of the Project are considered to be part of the residential use of the Property. 6.2 Condition of Dedicated or Conveyed Property. All lands and interests in land dedicated to City shall be free and clear of liens and encumbrances other than easements or restrictions that do not preclude or interfere with use of the land or interest for its intended purpose, as reasonably determined by City. 6.3 Development Fee Per Unit. As a condition of the issuance of a building permit for each residential dwelling unit within the Property, Developer shall pay City a one-time development fee as described herein (the “Development Fee”). The Development Fee may be expended by City in its sole and unfettered discretion. The amount of the Development Fee shall be as follows: Villas: $9,015.00/unit Independent Living Apartments: $6,040.00/unit Assisted Living and Memory Care Apartments: $2,975.00/unit The Development Fee shall be adjusted annually commencing January 1, 2021, by the Consumer Price Index (CPI). The annual CPI adjustment shall be determined by using the information provided by the U.S. Department of Labor, Bureau of Labor Statistics, for all urban consumers within the Los Angeles/Long Beach/Anaheim metropolitan area during the 128 Ordinance No. 469 Page 12 prior year. The calculation shall be made using the month of October over the prior October. In the event there is a decrease in the referenced Index for any annual indexing, the current amount of the fee shall remain until such time as the next subsequent annual indexing which results in an increase. 6.4 Traffic Mitigation Fee. As a condition of the issuance of building permit for each residential dwelling unit within the boundaries of the Property, Developer shall pay City a one-time traffic mitigation fee as described herein (“Citywide Traffic Fee”). The Citywide Traffic Fee may be expended by City in its sole and unfettered discretion. The amount of the Citywide Traffic Fee shall be as follows: Villas: $8,880.00/unit Independent Living Apartments: $8,880.00/unit Assisted Living and Memory Care Apartments: $4,440.00/unit The Citywide Traffic Fee shall be adjusted annually commencing January 1, 2021 and annually thereafter by the change in the Caltrans Highway Bid Price Index (Bid Price Index) for Selected California Construction Items for the twelve (12) month period available on December 31 of the preceding year (“annual indexing”). In the event there is a decrease in the Bid Price Index for any annual indexing, the current amount of the fee shall remain until such time as the next subsequent annual indexing which results in an increase. 6.5 Los Angeles Avenue Area of Contribution (LAAOC) Fees. Developer shall pay the LAAOC fee in effect at the time of building permit issuance for each residential dwelling unit within the Property. 6.6 Air Quality Fees. Developer agrees that the Mitigation Measures included in the City Council approved MND and MMRP, or subsequent environmental clearance document approved by the Council, set forth the mitigation requirements for air quality impacts. Developer agrees to pay to City a one-time air quality mitigation fee, as described herein (“Air Quality Fee”), in satisfaction of the Transportation Demand Management Fund mitigation requirement for the Project. The Air Quality Fee may be expended by City in its sole discretion for reduction of regional air pollution emissions and to mitigate residual Project air quality impacts. The Air Quality Fee shall be as follows: 129 Ordinance No. 469 Page 13 Villas: $1,320.00/unit Independent Living Apartments: $884.00/unit Assisted Living and Memory Care Apartments: $660.00/unit The Air Quality Fee shall be paid prior to the issuance of a building permit for each residential dwelling unit in the Project. If the Air Quality Fee is not paid by January 1, 2021, then commencing on January 1, 2021, and annually thereafter, the Air Quality Fee shall be adjusted by any increase in the Consumer Price Index (CPI) until all fees have been paid. The CPI increase shall be determined by using the information provided by the U.S. Department of Labor, Bureau of Labor Statistics, for all urban consumers within the Los Angeles/Long Beach/Anaheim metropolitan area during the prior year. The calculation shall be made using the month of October over the prior month of October. In the event there is a decrease in the CPI for any annual indexing, the fee shall remain at its then current amount until such time as the next subsequent annual indexing which results in an increase. 6.7 Park Fees. Prior to the issuance of the building permit for each residential dwelling unit within the Property, Developer shall pay a one-time fee in lieu of the dedication of parkland and related improvements (“Park Fee”). The amount of the Park Fee shall be as follows: Villas: $9,015.00/unit Independent Living Apartments: $6,040.00/unit Assisted Living and Memory Care Apartments: $2,975.00/unit If the Park Fee is not paid by January 1, 2021, the Park Fee shall be adjusted annually commencing January 1, 2021 by the larger increase of a) or b) as follows: (a) The change in the CPI. The change shall be determined by using the information provided by the U.S. Department of Labor, Bureau of Labor Statistics, for all urban consumers within the Los Angeles/Long Beach/Anaheim metropolitan area during the prior year. The calculation shall be made using the month of October over the prior October; or (b) The calculation shall be made to reflect the change in the Caltrans Highway Bid Price Index (Bid Price Index) for Selected California Construction Items for the twelve (12) month period available on December 31 of the preceding year (annual indexing). In the event there is a decrease in both of the referenced Indices for any annual indexing, the Park Fee shall remain at its then 130 Ordinance No. 469 Page 14 current amount until such time as the next subsequent annual indexing which results in an increase. Developer agrees that the above-described payments shall be deemed to satisfy the parkland dedication requirement set forth in California Government Code Section 66477 et seq. for the Property. 6.8 Community Services Fee. As a condition of issuance of a building permit for each residential dwelling unit within the boundaries of the Project, Developer shall pay City a one-time community services fee as described herein (Community Services Fee). The Community Services Fees may be expended by City in its sole and unfettered discretion. The amount of the Community Services Fees shall be $2,811.00 per residential dwelling unit. Commencing on January 1, 2021, and annually thereafter, the Community Services Fee shall be adjusted by any increase in the Consumer Price Index (CPI) until all Community Service Fee have been paid. The CPI increase shall be determined by using the information provided by the U.S. Department of Labor, Bureau of Labor Statistics, for All Urban Consumers within the Los Angeles/Long Beach/Anaheim metropolitan area during this prior year. The calculation shall be made using the month of October over the prior month of October or in the event there is a decrease in the CPI for any annual indexing, the Community Service Fee shall remain at its then current amount until such time as the next subsequent annual indexing which results in an increase. 6.9 Art in Public Places Fee. Developer agrees to pay the Art in Public Places Fee (Art Fee) in effect at the time of building permit issuance for each building prior to the issuance of the building permit for that residential building within the Project consistent with City Resolution No. 2005-2408 or any Successor Resolution (1.0 percent of total building valuations excluding land value and off-site improvement costs, for such building). 6.10 Other Development and Processing Fees. In addition to fees specifically mentioned in this Agreement, Developer agrees to pay all City capital improvement, development, and processing fees at the rate and amount in effect at the time the fee is required to be paid. Said fees include but are not limited to Library Facilities Fees, Police Facilities Fees, Fire Facilities Fees, drainage, entitlement processing fees, and plan check and permit fees for buildings and public improvements. Developer further agrees that unless specifically exempted by this Agreement, it is subject to all fees imposed by City at the Operative Date of this Agreement and such future fees imposed as determined by City in its sole discretion so long as such 131 Ordinance No. 469 Page 15 fees are imposed on a citywide basis on all projects similar to the Project or on all property similar to the Property. 6.11 Processing Fees. On the Operative Date, Developer shall pay all outstanding City processing costs related to preparation of this Agreement, the Project Approvals and the MND. 6.12 Community Facilities District (a) It is the mutual intent of the Parties that the development of the Project will not have any impact on or require any contribution from the General Fund of the City. To facilitate such intent, the City and Developer shall use reasonable efforts to form a Community Facilities District(s) (“CFD”), pursuant to Chapter 2.5 of Part 1 of Division 2 of the California Government Code (the “CFD Act”), for the purposes of financing facilities and services required to be constructed, provided or funded under this Agreement, as the City determines are lawfully and appropriately financed by the CFD. Such facilities and services may include but are not limited to: public facility fees, all fees and other amounts payable by Developer pursuant to Section 6 of this Agreement (including, without limitation, Development, Citywide Traffic, LAAOC, Air Quality, Park, Community Services, Art, Library Facilities, Police Facilities, Fire Facilities, Drainage, Processing, and In-Lieu Fees), construction and installation of landscaping, and future costs for the maintenance of landscaping and irrigation of the landscaped area. (b) Developer shall: (i) file with the City a petition for the formation of the CFD, (ii) provide any deposit required by Section 53318 of the CFD Act, (iii) not oppose formation of the CFD and (iv) vote in favor of the special tax to fund the CFD. (c) Developer acknowledges and agrees that the City will not accept any improvements or facilities to be maintained by the CFD nor shall the Developer receive any payments from the CFD for any improvements or facilities until such facilities and improvements have been inspected and the City determines in its reasonable discretion, that such improvements and facilities have been completed in accordance with the applicable plans, and have no liens outstanding. (d) Upon issuance of the bonded indebtedness for the CFD, to the extent permitted by applicable law as determined by bond counsel, the Developer may be reimbursed for costs advanced or paid by Developer for CFD formation and related proceedings. 132 Ordinance No. 469 Page 16 6.13 Densities Allowed for Development and Affordable Housing. (a) Developer agrees that densities vested and incentives and concessions received in the Project Approvals include all densities available as density bonuses and all incentives and concessions to which Developer is entitled under the Moorpark Municipal Code, and Government Code Sections 65915 through 65917.5; Developer shall not be entitled to further density bonuses or incentives or concessions and further agrees, in consideration for the density bonus obtained through the Project Approvals, to provide twenty-six (26) housing units, on one or more sites, within the City of Moorpark but not on the Project Site, with a minimum of 1,200 square feet each, affordable to low income households (not to exceed 80% of median income adjusted for family size). These twenty-six (26) housing units are referred to herein as “affordable units” or “units affordable to low income households” or “required affordable units.” (b) Subject to Subsection 6.13(c), Developer must construct all twenty- six (26) units in accordance with this Agreement and the City's General Plan, Zoning Codes, and the Moorpark Municipal Code. Nothing in this Agreement requires City to consider a General Plan Land Use Amendment, Zone Change, or any other land use entitlement to allow or permit said proposed construction. (c) In order to provide some or all of the required affordable units, Developer may purchase and rehabilitate units within the City of Moorpark. All single family detached units shall include a standard size two-car garage with roll-up garage door and a minimum driveway length of eighteen (18) feet measured from the back of sidewalk, meet minimum setback requirements of the City RPD zone, include concrete roof tiles, and other amenities typically found in moderately priced housing in the City (e.g., air conditioning/central heating, toilets, washer/dryer hookups, garbage disposal, built-in dishwasher, concrete driveway, automatic garage door opener). The duplex type units in Tracts 3841, 3070-2, 3070- 3, 3070-4, 4170, and 5133 are considered to be single family detached units for the purposes of this subsection 6.13. Subject to City's sole discretion, this obligation, in whole or part, may be met by providing attached for-sale units in lieu of single family detached units at the ratio of one and one-half (1 1/2) attached for-sale unit for each single family detached unit. In the 133 Ordinance No. 469 Page 17 event such substitution results in any fraction of a unit, then the requirement shall be rounded up to the next higher whole number (e.g. the requirement of 3 single family detached units are met by 41/2 attached for-sale units, then 5 attached for-sale units are required). Each of the substituted units shall be at the income level of the units for which they are being substituted. The attached for sale-units shall provide the same number of bedrooms and bathrooms and contain all of the same amenities for a single family detached unit as described above, except the minimum driveway length. Prior to acquiring any housing unit to meet the obligations of this subsection 6.13, Developer must first receive the written approval of City Manager or his/her authorized representative that the unit meets the requirements of this Development Agreement and the executed Affordable Housing Agreement required by subsection 6.13(f). Developer agrees that lack of a written response from City is deemed a rejection of the Developer's request. (d) Developer agrees that it shall provide twenty-six (26) affordable housing units as specified above regardless of the cost to acquire or construct said housing units. Developer further agrees that City has no obligation to use eminent domain proceedings to acquire any of the required affordable housing units, that this Subsection 6.13 is specifically exempt from the requirements of Subsection 7.2, and that the cost of purchasing property, obtaining all necessary entitlements and permits, and completing design, engineering, and construction of the affordable units shall be entirely the obligations of the Developer. The City has no obligation to approve any entitlement or permit applications for the affordable units which do not meet applicable zoning requirements, or the engineering, and building standards of the City or are not of comparable quality to the market rate housing units, except as provided in Subsection 6.13(c). (e) Developer also explicitly acknowledges that its agreement to construct or provide these affordable units is given both as specific consideration for the density bonus and in general as consideration for City’s willingness to negotiate and enter into this A greement and for the valuable consideration given by City through this Agreement. Developer further acknowledges that its agreement to construct or provide these affordable units is not the result of an 134 Ordinance No. 469 Page 18 existing policy or regulation imposed by City but instead is the result of arm’s length negotiation between Parties. (f) Prior to issuance of the first building permit for this Project, the parties agree to execute an Affordable Housing Agreement (“Affordable Housing Agreement”) that sets forth the Developer’s and City’s obligations and provides procedures and requirements to ensure that all of the required affordable housing units are provided consistent with this Agreement and applicable State laws and remains affordable for the longest feasible time. The Affordable Housing Agreement shall include but not be limited to the following items: initial purchase price, market value, buyer eligibility, affordability and resale covenants and restrictions, equity share and second trust deed provision, respective role of City and Developer, the responsibility of providing the affordable units by each developer in the event of successors and/or assigns to this Agreement, quality of and responsibility for selection of amenities and applicability of home warranties to meet all or a portion of its obligation and any other items determined necessary by the City. Developer shall pay the City’s out-of-pocket costs (including attorneys’ fees, but excluding staff time) for preparation and review of the Affordable Housing Agreement up to a maximum of ten- thousand Dollars ($10,000.00). (g) All affordable units shall meet the criteria of all California Health and Safety Code statutes and implementing regulations pertaining to for-sale affordable housing units affordable to low income households and to satisfy a portion of the City’s RHNA obligation. The affordable units required by this Agreement are consideration for City’s entry into this Agreement and therefor none of the affordable units shall duplicate or substitute for the affordable housing requirement of any other developer or development project. All subsequent approvals required of City under this Subsection 6.13 shall be made at City’s sole discretion. If any conflict exists between this Agreement and the Affordable Housing Agreement required by clause (f) above or between the Affordable Housing Agreement and the conditions of approval for RPD No. 2013-01, then the Affordable Housing Agreement shall prevail. (h) In the event monthly HOA fees for any of the affordable units exceed two hundred dollars ($200.00), Developer shall deposit one hundred twenty dollars ($120.00) for each dollar or portion thereof of the monthly HOA fees that are in excess of two hundred dollars 135 Ordinance No. 469 Page 19 ($200.00) into a City administered trust account to assist with future HOA fees for each affected unit. (i) The Affordable Sales Price for low-income buyers shall not exceed affordable housing cost, as described in the first sentence of Section 50052.5(b)(3) of California Health and Safety Code. Section 50052.5(h) of the California Health and Safety Code provides that an appropriate household size in terms of determining purchase price, is one more person than the number of bedrooms. This means that the pricing for a three (3) bedroom unit will be based on a household of four (4) regardless of the actual size of the household purchasing the unit. For example, the monthly “affordable housing cost” for a three (3) bedroom unit would be 30% times 70% of the then-current median income for a household of four (4) in Ventura County divided by twelve (12). This monthly amount includes the components identified in Section 6920 of Title 25 of the California Code of Regulation shown below (See Section 50052.5(c) of the Health and Safety Code). The Affordable Sales Price for a low income household purchasing a three (3) bedroom unit under current market conditions, based upon the following assumptions: (j) The assumptions associated with the above figures in Subsection 6.13(i) for low income households include a 5% down payment, based on Affordable Sales Price for a three (3) bedroom unit, mortgage interest rate of 4.65%, no mortgage insurance, property tax rate of 1.25%, based on Affordable Sales Price, homeowners’ Item Detail Amount 3 Bedroom Affordable Sale $208,000.00 Down Payment 5% of Affordable Sales Price $10,400.00 Loan Amount Affordable Sales Price less Down $197,600.00 Interest Rate 4.65% Monthly Property Tax 1.25% of Initial Purchase Price 217.00 LMD Not Currently N/A HOA 200.00 Fire Insurance 60.00 Maintenance 30.00 Utilities 180.00 Low Income Buyer 136 Ordinance No. 469 Page 20 association dues of $200.00 per month, fire insurance of $60.00 per month, maintenance costs of $30.00 per month, and utilities of $180.00 per month for a three (3) bedroom unit. (k) Developer acknowledges that changes in market conditions may result in changes to the Affordable Sales Price, down payment amounts, mortgage interest rates, and other factors for both low income and very low income buyers. Furthermore, if “affordable housing cost”, as defined in the first sentence of Section 50052.5(3) of the California Health and Safety Code, should change in the future, the above figures will be modified. The Affordable Housing Purchase and Sale Agreement negotiated pursuant to this Agreement shall address any such changes. Consequently, Developer acknowledges that amounts listed in the “Low Income Buyer” table in Subsection 6.13(g), above, are for illustration purposes only and are subject to change. (l) The City, may, in its sole discretion purchase one or more of the units from Developer in lieu of a qualified buyer purchasing such units. In that event, (and in the case of any units purchased by City under clause (u) below), the Affordable Sales Price shall be based on a household size appropriate to the number of bedrooms in the unit being purchased by the City, consistent with all requirements of this Subsection 6.13. Developer agrees that, pursuant to City’s rights under this Agreement and/or the Affordable Housing Agreement, and prior to and upon the sale of a required unit to a qualified buyer (or City in lieu of a qualified buyer, as determined by City at its sole discretion), City may at its sole discretion take any actions and impose any conditions on said sale or subsequent sale of the unit to ensure ongoing affordability to low income households and related matters. After the sale of a housing unit by Developer to a qualified buyer (or City in lieu of a qualified buyer, as determined by City at its sole discretion), City, not Developer, shall have sole responsibility for approving any subsequent sale of that housing unit. (m) Developer agrees that City shall be responsible at its sole discretion for marketing the affordable units, selecting and qualifying eligible buyers for these units, and overseeing the escrow processes to sell the affordable units to low income households, providing (for approval by City) the forms of Deed of Trust, Promissory Note, Resale Refinance Restriction Agreement and Option to Purchase Property and Notice of Affordability Restriction 137 Ordinance No. 469 Page 21 on Transfer of Property and all necessary contracts and related documents to ensure that the referenced affordable units remain occupied by low income households for the longest feasible time (the “Affordability Documents”). Developer further agrees that the difference between the Affordable Sales Price (as referenced in this Agreement) paid by a qualified buyer and market value shall be in a promissory note by the buyer to the City secured by a second priority deed of trust in favor of City. (n) Developer shall pay closing costs for each affordable unit, not to exceed eight thousand dollars ($8,000.00). Beginning January 1, 2021 and on January 1st for each year thereafter, the maximum eight thousand dollars ($8,000.00) to be paid for closing costs shall be increased annually by any percentage increase in the Consumer Price Index (CPI) for All Urban Consumers for Los Angeles/Long Beach/Anaheim metropolitan area during the prior year. The calculation shall be made using the month of October over the month of October. In the event there is a decrease in the CPI for any annual indexing, the closing costs for each affordable unit shall remain at its then-current amount until such time as the next subsequent annual indexing which results in an increase. The referenced Developer-funded closing costs shall be for the benefit of qualified buyers (or City in lieu of qualified buyers, for any required units purchased by the City) in their acquisition of a unit from Developer (not Developer’s acquisition of a unit from one or more third parties). However, the Developer’s escrow cost shall not exceed the then-applicable maximum amount per unit regardless of the number of escrows that may be opened on a specific unit. (o) Developer warrants that the quality of materials and construction techniques of the affordable units sold to the qualified low income buyers, or City shall in all manner be substantially identical to that of all other units constructed in this Project and subject to all Conditions of Approval and shall meet all Building Codes. (p) Developer agrees that the City shall have approval authority over basic finish options in the affordable units and final walk-through approval of condition of unit before close of sale. Basic finish options provided to buyers of affordable units shall be provided to City for review and approval, including but not limited to color and style choices for carpeting and other floor coverings, counter tops, roofing materials, exterior stucco and trim of any type, fixtures, and other decorative items. The City staff person responsible for affordable housing will select basic finish options for the affordable 138 Ordinance No. 469 Page 22 units. This applies to both new affordable housing units, or existing housing stock, purchased and rehabilitated pursuant to this Agreement. (q) Developer agrees that all warranties for the affordable units shall be consistent with California Civil Code Sections 895-945 for new residential construction and shall inure to the benefit of and be enforceable by the ultimate occupants of the affordable units and that all warranties by subcontractors and suppliers shall also inure to the benefit of and be enforceable by such occupants. The home warranties for the new affordable units shall be the same duration as warranties for new housing units and not less than the durations required under California Civil Code Sections 895-945. Developer shall be required to provide an extended 10 year warranty, which may be provided directly by a reputable 3rd party (at Developer’s sole discretion) and shall cover foundation, structural, plumbing and electrical building systems and include a one year fit and finish warranty. (r) Developer agrees to provide comparable quality standard features for the affordable units (purchased by the low income buyer, or City) as those amenities that are provided for the market rate Villa units. The standard features shall include but not be limited to concrete roof tiles; air conditioning/central heating; garage door opener; washer/dryer hook-ups; garbage disposal; built-in dishwasher, toilets, stove, oven and microwave; windows; wood cabinets; shelving; counter-tops; floor coverings; electrical outlets, lighting fixtures and other electrical items; plumbing fixtures including sinks, bathtubs and showers; and door and cabinet hardware, and shall all be of the same quality and quantity as provided in the Project’s market rate Villa units as determined by the City’s Community Development Director and City staff person responsible for City’s Affordable Housing Programs. (s) For newly constructed affordable units, the floor plan and size of the units shall be approved by the Community Development Director and City staff person responsible for City’s Affordable Housing Programs, and include a downstairs bathroom if the affordable units are two stories. (t) The parties agree that prior to and upon the sale of an affordable unit to a qualified buyer or City, City may at its sole discretion take any actions and impose any conditions on buyer eligibility and on said sale or subsequent sale of the unit to ensure ongoing 139 Ordinance No. 469 Page 23 affordability to low income households and related matters. Developer agrees if it sells any of the affordable units directly to qualified low income buyers, all requirements of the buyer noted in clause (m) above, including, but not limited to, completion of a City approved homebuyer education training workshop and the Affordability Documents, shall be included as a requirement of the sale. The language of all such documents shall be approved by City at its sole discretion. Developer may select lenders, escrow and title companies to assist with the sale of the affordable units, however, selection of said professionals is subject to City approval at its sole discretion. Lenders submitted for consideration shall be required to provide confirmation in writing that they are able to underwrite the loans for the affordable units with no mortgage insurance, subject to the City’s Affordability Documents described in clause (m). Developer’s selected lender(s) shall not be exclusive to the program. Future buyers of the affordable units shall be able to choose any qualified lenders. City shall provide a qualified real estate professional to work with the affordable home buyers at City’s cost. Developer may select whatever real estate professional Developer deems appropriate to represent the Developer’s side of the transaction. (u) In the event City is unable to provide a qualified buyer when one of the low-income units has received final inspection approval, Developer shall be allowed to continue to obtain building permits and/or final inspection approval for the non-affordable units. Any low-income units remaining unsold six (6) months after the final inspection approval of the last unit associated with RPD No. 2013- 01 will be purchased by the City, and that obligation will be included in the Affordable Housing Agreement. Developer is required to maintain low-income units in move-in condition until such time as the City finds a buyer. For purposes of this schedule, final inspection approval requires approval of the City’s Building Official and Community Development Director. (v) Developer also agrees that subsidiaries, divisions or affiliates of Developer may not be used to provide lending or escrow services relevant to the purchase transactions for the affordable units. (w) If a qualified low income buyer is identified by City prior to or at the time of final inspection approval of any of the affordable units, Developer shall open escrow for the sale of said unit as provided for in the Affordable Housing Agreement, and shall enter escrow directly with the buyer identified by City, and proceed to closing of 140 Ordinance No. 469 Page 24 said escrow. If a qualified low income buyer has not been identified at the time Developer receives final inspection approval for an affordable unit, City, at its option, may agree to purchase the affordable unit required to be provided by Developer for the amount and at the time as provided for in this agreement. If City elects to purchase, Developer and City agree to use their best efforts to complete the close of escrow within forty-five (45) days of the final inspection approval of an affordable unit. (x) Developer shall satisfy all mechanic’s, laborer’s, material man’s, supplier’s, or vendor’s liens and any construction loan or other financing affecting any affordable unit, before the close of escrow for that affordable unit. (y) Developer agrees that the required construction of the low income affordable units must receive City final inspection approval on terms consistent with this Agreement and the Affordable Housing Agreement as specified in the following schedule: Prior to Occupancy of Number of Affordable Units 75th Market Rate Unit 6 Units 150th Market Rate Unit 6 Units 225th Market Rate Unit 6 Units 300th Market Rate Unit 8 Units TOTAL 26 Units (z) In addition to the twenty-six (26) affordable units required in Subsection 6.13 (a) above, Developer also agrees to pay to City a one-time In-Lieu Fee (In-Lieu Fee) of $5,200,000.00 equivalent to the estimated subsidy of $200,000 per unit for 26 additional affordable units (16 Low-Income and 10 Very Low Income). The one-time In-Lieu Fee shall be paid as follows: Prior to Building Permit for In-Lieu Fee Amount 100th Market Rate Unit $1,300.000.00 175th Market Rate Unit $1,300.000.00 250th Market Rate Unit $1,300.000.00 325th Market Rate Unit $1,300.000.00 TOTAL $5,200.000.00 Commencing on January 1, 2025, and annually thereafter, the In lieu fee shall be adjusted by any increase in the Consumer Price Index (CPI) until all In Lieu Fees have been paid. The CPI increase shall be determined by using the information provided by the U.S. Department of Labor, Bureau of Labor Statistics, for All Urban Consumers within the Los Angeles/Long Beach/Anaheim 141 Ordinance No. 469 Page 25 metropolitan area during this prior year. The calculation shall be made using the month of October over the prior month of October or in the event there is a decrease in the CPI for any annual indexing, the In Lieu Fee shall remain at its then current amount until such time as the next subsequent annual indexing which results in an increase. 6.14 Casey Road Improvement. Prior to issuance of the first building permit for a residential unit in the Project, Developer shall at its sole cost irrevocably offer to the City all rights of way, permanent easements and construction easements on the north side of Casey Road necessary for construction of the Project’s improvements to Casey Road for an ultimate 76-foot wide public right-of-way from Walnut Canyon Road to the westerly project boundary (the “Casey Road Improvements”), including a Caltrans- compliant curve radius at the northwest intersection of Casey Road and Walnut Canyon Road, 8-foot wide sidewalks on both sides of Casey Road, an 8-foot wide bike lane on the north side of Casey Road, two 12’ fo ot wide travel lanes, 14’ wide parking/bike lane on the south side of Casey Road, and a 14-foot wide left turn median, with the design subject to review and approval by the City Engineer/Public Works Director and Caltrans. Developer shall also have prepared improvement plans for the Casey Road Improvements that are consistent with the City’s and Caltrans requirements as determined by the City Engineer/Public Works Director, and finalize plans for the Casey Road Improvements so plans are submitted to Caltrans prior to issuance of the first building permit for a residential unit in the Project. Developer shall obtain a Caltrans encroachment permit for the construction of the Casey Road Improvements and complete construction of the Casey Road Improvements to the satisfaction of the City Engineer/Public Works Director prior to issuance of the first certificate of occupancy for a residential unit in the Project. Upon receipt of a written request from Developer, City may construct all or part of the Casey Road Improvements and Developer shall reimburse City for all actual and reasonable costs thereof, including but not limited to construction, permits, contract administration, design, inspection, utility relocation and all other Caltrans requirements. 6.15 Annual Review Procedures. Developer agrees to comply with Section 15.40.150 of the Moorpark Municipal Code and any provision amendatory or supplementary thereto for annual review of this Agreement and further agrees that the annual review shall include evaluation of its compliance with the approved MND and MMRP. 142 Ordinance No. 469 Page 26 6.16 Eminent Domain. Developer agrees that any election to acquire property by eminent domain shall be at City’s sole discretion, and only after compliance with all legally required procedures including but not limited to a hearing on a proposed resolution of necessity. 6.17 Street Improvement Standards. The street improvements for all streets scheduled for dedication to the City shall be designed and constructed by Developer to provide for a 50-year life as determined by the City Engineer. 6.18 Implementation Plan. Prior to the issuance of the first building permit, Developer shall submit and gain approval from City Council a plan to guarantee the Developer agreements contained in this Agreement and in the conditions of approval for the RPD. The plan shall address the entities responsible and method and timing of guarantee for each component of Developer’s obligations and is subject to City approval at its sole discretion. 6.19 Fee Protest Waiver. Developer agrees that any fees and payments specifically provided for in this Agreement for the Project shall be made without reservation, and Developer expressly waives the right to payment of any such fees under protest pursuant to California Government Code Section 66020 and statutes amendatory or supplementary thereto. Developer further agrees that the fees it has agreed to pay pursuant to Subsections 6.3, 6.4 and 6.8 of this Agreement are not public improvement fees collected pursuant to Government Code Section 66006 and statutes amendatory or supplementary thereto. 6.20 CPI Indexes. In the event the “CPI” referred to in Subsections 6.3, 6.6, 6.7, 6.8, 6.13(n), and 6.13(z) or the Bid Price Index referred to in Subsections 6.4 and 6.7 are discontinued or revised, a successor index with which the “CPI” and or Bid Price Index are replaced shall be used in order to obtain substantially the same result as would otherwise have been obtained if either or both the “CPI” and Bid Price Index had not been discontinued or revised. 6.21 North Hills Parkway Improvements. Prior to the issuance of a zoning clearance for filing of a Final Map, Developer agrees to provide an irrevocable offer of dedication for a two-hundred-foot (200’) wide future right-of-way along the entire northerly boundary of the Property for North Hills Parkway, along with necessary slope easements for construction. Developer agrees to construct the full width grading of North Hills Parkway from the top of slope at the eastern end of the Developer’s Property to the eastern boundary of the Hitch Ranch Specific Plan property. Additionally, 143 Ordinance No. 469 Page 27 Developer agrees to construct the southern one-half (1/2) of North Hills Parkway, including a driveway for a northern project entrance, two (2) lanes of travel, emergency parking/bicycle lane, curb, gutter, sidewalk, drainage, full median and parkway landscaping and street lighting along the entire frontage of the project and west to the eastern boundary of the Hitch Ranch Specific Plan property (the “North Hills Parkway Improvements”). Developer shall cause the North Hills Parkway Improvements to be completed prior to occupancy of the 225th residential unit in the Project. Developer agrees that all horizontal and vertical alignments of the North Hills Parkway shall be determined by the City in its reasonable discretion. The cost to acquire any fee title property or easements necessary to complete the required construction and maintenance of the North Hills Parkway Improvements that are outside the Property boundaries shall be borne by the Developer. Per Section 7.7 of this Agreement, City agrees that credit will be given by the City toward the payment of the Citywide Traffic Fee in Section 6.4 of this Agreement for the fair market value of off-site property acquired by the City or Developer as determined by City to be necessary to complete these improvements. 6.22 City Ability to Modify. Developer acknowledges the City’s ability to modify the development standards and to change the General Plan designation and zoning of the Property upon the termination or expiration of this Agreement (if the Project has not been built), and Developer hereby waives any rights they might otherwise have to seek judicial review of such City actions after the termination or expiration of this Agreement (if the Project has not been built) to change the development standards, General Plan designation and zoning to those development standards and density of permitted development to those that were in existence prior to the approval of GPA 2015-02 and ZC 2015-03. 7. City Agreements. 7.1 Commitment of Resources. At Developer’s expense, City shall commit reasonable time and resources of City staff to work with Developer on the processing of applications for Project Approvals and all Subsequent Approvals and Building Permits for the Project area and if requested in writing by Developer shall use overtime and independent contractors whenever possible. 7.2 Easement and Fee Title Acquisitions. If requested in writing by Developer and limited to City’s legal authority, City at its sole and absolute discretion shall proceed to acquire, at Developer’s sole cost and expense, easements or fee title to land in which Developer does not have title or interest in order to allow construction of public improvements required of 144 Ordinance No. 469 Page 28 Developer including any land which is outside City's legal boundaries. The process shall generally follow Government Code Section 66462.5 et seq. and shall include the obligation of Developer to enter into an agreement with City, guaranteed by cash deposits and other security as the City may require, to pay all City costs including but not limited to, acquisition of the interest, attorney fees, appraisal fees, engineering fees, City staff costs, and City overhead expenses of 15% on all out-of-pocket costs. 7.3 Concurrent Entitlement Processing. City agrees that whenever possible as determined by City in its sole discretion to process concurrently all land use entitlements for the Project so long as the application for such entitlements are “deemed complete” in compliance with the requirements of Chapter 4.5 Review and approval of Development Projects (Permit Streamlining Act) of the California Government Code. 7.4 Park Fees. City agrees that the Park Fee required under Subsection 6.7 of this Agreement meets all of Developer's obligations under applicable law for park land dedication. 7.5 Reimbursements from other Developments. City shall facilitate the reimbursement to Developer of any costs incurred by Developer that may be subject to partial reimbursement from other developers as a condition of approval of a tract map, development permit or development agreement with one or more other developers and at City’s discretion may include provisions requiring such reimbursement to Developer for the same in such other development project conditions of approval. 7.6 Early Grading Agreement. The City Manager is authorized sign an early grading agreement on behalf of the City to allow rough grading of the Project prior to City Council approval of a final subdivision map. Said early grading agreement shall be consistent with the conditions of the Project’s approved tentative map and contingent on City Engineer and Director of Community Development acceptance of a performance bond in a form and amount satisfactory to them to guarantee implementation of the erosion control plan and completion of the rough grading; construction of on-site and off-site improvements consistent with the City Council approved Project and Tentative Map. In the case of failure to comply with the terms and conditions of the early grading agreement, the City Council may by resolution declare the surety forfeited. 7.7 Credit toward Payment of Citywide Traffic Fees. City agrees that credit will be given by the City toward the payment of the Citywide Traffic Fee in Section 6.4 of this Agreement for the fair market value of off-site property 145 Ordinance No. 469 Page 29 acquired by the developer as determined by City to be necessary to complete the improvements identified in Section 6.21 of this Agreement. 7.8 Hillside Management Ordinance. City agrees that per Section 17.38.030(M) of the Moorpark Municipal Code, this project is exempt from the provisions of the Hillside Management Ordinance. 8. Supersession of Agreement by Change of Law. In the event that any state or federal law or regulation enacted after the date the Enabling Ordinance was adopted by the City Council prevents or precludes compliance with any provision of the Agreement, such provision shall be deemed modified or suspended to comply with such state or federal law or regulation, as reasonably determined necessary by City. 9. Demonstration of Good Faith Compliance. In order to ascertain compliance by Developer with the provisions of this Agreement, the Agreement shall be reviewed annually in accordance with Moorpark Municipal Code Chapter 15.40. of City or any successor thereof then in effect. The failure of City to conduct any such annual review shall not, in any manner, constitute a breach of this Agreement by City, diminish, impede, or abrogate the obligations of Developer hereunder or render this Agreement invalid or void. At the same time as the referenced annual review, City shall also review Developer’s compliance with the MMRP. 10. Authorized Delays. Performance by any Party of its obligations hereunder, other than payment of fees, shall be excused during any period of "Excusable Delay", as hereinafter defined, provided that the Party claiming the delay gives written notice of the delay to the other Parties as soon as possible after the same has been ascertained. For purposes hereof, Excusable Delay shall mean delay that directly affects, and is beyond the reasonable control of, the Party claiming the delay, including without limitation: (a) act of God; (b) civil commotion; (c) riot; (d) strike, picketing or other labor dispute; (e) shortage of materials or supplies; (f) damage to work in progress by reason of fire, flood, earthquake or other casualty; (g) failure, delay or inability of City or other local government entity to provide adequate levels of public services, facilities or infrastructure to the Property including, by way of example only, the lack of water to serve any portion of the Property due to drought; (h) delay caused by a delay by other third party entities which are required to approve plans or documents for Developer to construct the Project, or restrictions imposed or mandated by such other third party entities or governmental entities other than City, (including but not limited to, Ventura County Watershed Protection District); or (i) litigation brought by a third party attacking the validity of this Agreement, a Project Approval, a Subsequent Approval or any other action necessary for development of the Project. 146 Ordinance No. 469 Page 30 11. Default Provisions. 11.1 Default by Developer. The Developer shall be deemed to have breached this Agreement if it: (a) practices, or attempts to practice, any fraud or deceit upon City; or willfully violates any order, ruling or decision of any regulatory or judicial body having jurisdiction over the Property or the Project, provided that Developer may contest any such order, ruling or decision by appropriate proceedings conducted in good faith, in which event no breach of this Agreement shall be deemed to have occurred unless and until there is a final adjudication adverse to Developer; or (b) fails to make any payments required under this Agreement within five (5) business days after City gives written notice to Developer that the same is due and payable; or (c) breaches any of the other provisions of this Agreement and fails to cure the same within thirty (30) days after City gives written notice to Developer of such breach (or, if the breach is not able to be cured within such thirty (30) day period, Developer fails to start to cure the same within thirty (30) days after delivery of written notice by City of such breach or fails to thereafter diligently prosecute the cure to completion). 11.2 Default by City. City shall be in breach of this Agreement if it breaches any of the provisions of this Agreement and fails to cure the breach within thirty (30) days after Developer gives written notice to City of the breach (or, if the breach is not able to be cured within such thirty (30) day period, City fails to start to cure the same within thirty (30) days after delivery of written notice from Developer of such breach or fails to thereafter diligently prosecute the cure to completion). 11.3 Content of Notice of Violation. Every notice of breach shall state with specificity that it is given pursuant to this section of this Agreement, the nature of the alleged breach, and the manner in which the breach may be satisfactorily cured. Every notice shall state the applicable period to cure. The notices shall be given in accordance with Section 20 hereof. 11.4 Remedies for Breach. The Parties acknowledge that remedies at law, including without limitation money damages, would be inadequate for breach of this Agreement by any Party due to the size, nature and scope of the Project. The Parties also acknowledge that it would not be feasible 147 Ordinance No. 469 Page 31 of possible to restore the Property to its natural condition once implementation of the Agreement has begun. Therefore, the Parties agree that the remedies for breach of this Agreement shall be limited to the remedies expressly set forth in this subsection. The remedies for breach of the Agreement by the City shall be injunctive relief and/or specific performance. Developer shall not be entitled to monetary damages or consequential damages for the City’s breach. In addition, in the event this Agreement is terminated by City pursuant to the provisions of Chapter 15.40 of the Moorpark Municipal Code, and such termination is found invalid or unenforceable by a court of competent jurisdiction, Developer shall not be entitled to monetary damages for th e termination or consequential damages incurred that are the result of the termination. In addition, and notwithstanding any other language of this Agreement, if the breach is of Subsection 6.13, 6.14 or 6.21 of this Agreement, City shall have the right to withhold the issuance of building permits from the date that the notice of violation was given pursuant to Subsection 11.3 hereof until the date that the breach is cured as provided in the notice of violation. Nothing in this subsection shall be deemed to preclude City from prosecuting a criminal action against Developer if it violates any City ordinance or State statute. 12. Mortgage Protection. 12.1 Discretion to Encumber. The Parties hereto agree that this Agreement shall not prevent or limit Developer, in any manner, at Developer’s sole discretion, from encumbering the Property or any portion thereof or any improvements thereon then owned by such person with any mortgage, deed of trust or other security device (“Mortgage”) securing financing with respect to the Property or such portion. Any mortgagee or trust deed beneficiary of the Property or any portion thereof or any improvements thereon and its successors and assigns (“Mortgagee”) shall be entitled to the following rights and privileges. 12.2 Lender Requested Modification/Interpretation. City acknowledges that the lenders providing financing to Developer for the Property may request certain interpretations and modifications of this Agreement. City therefore agrees upon request, from time to time, to meet with Developer and representatives of such lenders to discuss in good faith any such request for interpretation or modification. The City will not unreasonably withhold its consent to any such requested interpretation or modification provided 148 Ordinance No. 469 Page 32 such interpretation or modification is consistent with the intent and purposes of this Agreement, provided, further, that any modifications of this Agreement shall be subject to the provisions of this Agreement pertaining to modifications and amendments. 12.3 Mortgage Protection. This Agreement shall be superior and senior to the lien of any Mortgage. Notwithstanding the foregoing, no breach of this Agreement shall defeat, render invalid, diminish or impair the lien of any Mortgage made in good faith and for value, but this Agreement shall be binding and effective against the Mortgagee and every owner of the Property, or part thereof, whose title thereto is acquired by foreclosure, trustee sale or otherwise; provided, however, Mortgagee and such owner shall not be responsible for any matters that occurred prior to their acquisition of the Property or such portion. 12.4 Written Notice of Default. If a non-monetary default is not cured by Developer within thirty (30) days after written notice by City to Developer or a monetary default is not cured with in five (5) days after written notice by City to Developer, then each Mortgagee shall be entitled to received written notice from City of the applicable default by Developer under this Agreement provided the Mortgagee has delivered a written request to the City for such notice and shall have provided its address for notices in writing to the City. Each such Mortgagee shall have a further right, but not the obligation, to cure such default for an additional period of thirty (30) days after delivery of such notice of default by City to the Mortgagee. City shall not commence legal action against Developer by reason of Developer’s breach without allowing the Mortgagee to cure the same as specified herein. 13. Estoppel Certificate. At any time and from time to time, Developer may deliver written notice to City and City may deliver written notice to Developer requesting that such Party certify in writing that, to the knowledge of the certifying Party, (i) this Agreement is in full force and effect and a binding obligation of the Parties, (ii) this Agreement has not been amended, or if amended, the identity of each amendment, and (iii) the requesting Party is not in breach of this Agreement, or if in breach, a description of each such breach. The Party receiving such a request shall execute and return the certificate within ten (10) days following receipt of the notice. City acknowledges that a certificate may be relied upon by successors in interest to the Developer who requested the certificate and by holders of record of deeds of trust on the portion of the Property in which that Developer has a legal interest. 14. Administration of Agreement. Any consent or approval herein to be given by the City may be given by the City Manager provided it is express and is in writing. 149 Ordinance No. 469 Page 33 Any decision by City staff concerning the interpretation and administration of this Agreement and development of the Property in accordance herewith may be appealed by the Developer to the City Council, provided that any such appeal shall be filed with the City Clerk of City within thirty (30) days after the affected Developer receives written notice of the staff decision. The City Council shall render its decision to affirm, reverse or modify the staff decision within thirty (30) days after the appeal was filed. The Developer shall not seek judicial review of any staff decision without first having exhausted its remedies pursuant to this section. 15. Amendment or Termination by Mutual Consent. In accordance with the provisions of Chapter 15.40 of the Moorpark Municipal Code of City or any successor thereof then in effect, this Agreement may be amended or terminated, in whole or in part, by mutual consent of City and the affected Developer. 15.1 Exemption for Amendments of Project Approvals. No amendment to a Project Approval or Subsequent Approvals shall require an amendment to this Agreement and any such amendment shall be deemed to be incorporated into this Agreement at the time that the amendment becomes effective, provided that the amendment is consistent with this Agreement and does not alter the permitted uses, density, intensity, maximum height, size of buildings or reservations and dedications as contained in the Project Approvals or Subsequent Approvals. 16. Developer Indemnification. Developer shall indemnify, defend with counsel approved by City, and hold harmless City and its officers, employees and agents from and against any and all losses, liabilities, fines, penalties, costs, claims, demands, damages, injuries or judgments arising out of, or resulting in any way from, Developer's performance pursuant to this Agreement including, but not limited to, Developer’s construction of the Project on the Property and any injury sustained by any person in connection with the construction or partial construction of buildings and improvements on the Property by or on behalf of Developer. Developer shall indemnify, defend with counsel approved by City, and hold harmless City and its officers, employees and agents from and against any action or proceeding to attack, review, set aside, void or annul this Agreement, or any provision thereof, the environmental documents prepared and approved in connection with the approval of the Project, or any Project Approval or Subsequent Approval or modifications thereto, or any other subsequent entitlements for the project and including any related environmental approval. 150 Ordinance No. 469 Page 34 17. Time of Essence. Time is of the essence for each provision of this Agreement of which time is an element. 18. Operative Date. As described in Subsection 1.9 above, this Agreement shall become operative on the Operative Date, being the date the Enabling Ordinance becomes effective pursuant to Government Code Section 36937. 19. Term. This Agreement shall remain in full force and effect for a term of twenty (20) years commencing on the Operative Date or until one year after the issuance of the final building permit for occupancy of the last unit of the Project, whichever occurs last, unless said term is amended or the Agreement is sooner terminated as otherwise provided herein. Expiration of the term or earlier termination of this Agreement shall not automatically affect any Project Approval or Subsequent Approval or Building Permit or Final Building Permit that has been granted or any right or obligation arising independently from such Project Approval or Subsequent Approval or Building Permit or Final Building Permit. Upon expiration of the term or earlier termination of this Agreement, the Parties shall execute any document reasonably requested by any Party to remove this Agreement from the public records as to the Property, and every portion thereof, to the extent permitted by applicable laws. Notwithstanding the foregoing, the following shall survive the expiration or earlier termination of this Agreement: (i) all obligations arising under this Agreement prior to the expiration or earlier termination of this Agreement; and (ii) Subsection 6.22 of this Agreement. 20. Notices. All notices and other communications given pursuant to this Agreement shall be in writing and shall be deemed received when personally delivered or upon the third (3rd) day after deposit in the United States mail, registered or certified, postage prepaid, return receipt requested, to the Parties at the addresses set forth in Exhibit “B” attached hereto and incorporated herein. Any Party may, from time to time, by written notice to the other, designate a different address which shall be substituted for the one above specified. 21. Entire Agreement. This Agreement and those exhibits and documents referenced herein contain the entire agreement between the Parties regarding the subject matter hereof, and all prior agreements or understandings, oral or written, are hereby merged herein. This Agreement shall not be amended, except as expressly provided herein. 151 Ordinance No. 469 Page 35 22. Waiver. No waiver of any provision of this Agreement shall constitute a waiver of any other provision, whether or not similar; nor shall any such waiver constitute a continuing or subsequent waiver of the same provision. No waiver shall be binding, unless it is executed in writing by a duly authorized representative of the Party against whom enforcement of the waiver is sought. 23. Severability. If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable, the remainder of this Agreement shall be effective to the extent the remaining provisions are not rendered impractical to perform, taking into consideration the purposes of this Agreement. 24. Relationship of the Parties. Each Party acknowledges that, in entering into and performing under this Agreement, it is acting as an independent entity and not as an agent of any of the other Parties in any respect. Nothing contained herein or in any document executed in connection herewith shall be construed as creating the relationship of partners, joint ventures or any other association of any kind or nature between City and Developer, jointly or severally. 25. No Third Party Beneficiaries. This Agreement is made and entered into for the sole benefit of the Parties and their successors in interest. No other person shall have any right of action based upon any provision of this Agreement. 26. Recordation of Agreement and Amendments. This Agreement and any amendment thereof shall be recorded with the County Recorder of the County of Ventura by the City Clerk of City within the period required by Chapter 15.40 of the Moorpark Municipal Code of City or any successor thereof then in effect. 27. Cooperation Between City and Developer. City and Developer shall execute and deliver to the other all such other and further instruments and documents as may be necessary to carry out the purposes of this Agreement. 28. Rules of Construction. The captions and headings of the various sections and subsections of this Agreement are for convenience of reference only, and they shall not constitute a part of this Agreement for any other purpose or affect interpretation of the Agreement. Should any provision of this Agreement be found to be in conflict with any provision of the Purchase and Sale Agreement, the Project Approvals or the Subsequent Approvals, the provision of this Agreement shall prevail. 29. Joint Preparation. This Agreement shall be deemed to have been prepared jointly and equally by the Parties, and it shall not be construed against any Party on the ground that the Party prepared the Agreement or caused it to be prepared. 152 Ordinance No. 469 Page 36 30. Governing Law and Venue. This Agreement is made, entered into, and executed in the County of Ventura, California, and the laws of the State of California shall govern its interpretation and enforcement. Any action, suit or proceeding related to, or arising from, this Agreement shall be filed in the appropriate court having jurisdiction in the County of Ventura. 31. Attorneys' Fees. In the event any action, suit or proceeding is brought for the enforcement or declaration of any right or obligation pursuant to, or as a result of any alleged breach of, this Agreement, the prevailing Party shall be entitled to its reasonable attorneys' fees and litigation expenses and costs, and any judgment, order or decree rendered in such action, suit or proceeding shall include an award thereof. 32. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which constitute one and the same instrument. 33. Authority to Execute. Developer warrants and represents that to its knowledge as of the Operative Date and with respect to each entity that is defined as Developer: (i) it is duly organized and existing; (ii) it is duly authorized to execute and deliver this Agreement; (iii) by so executing this Agreement, Developer is formally bound to the provisions of this Agreement; (iv) Developer’s entering into and performance of its obligations set forth in this Agreement do not violate any provision of any other agreement to which Developer is bound; and (v) there is no existing or threatened litigation or legal proceeding of which Developer is aware that could prevent Developer from entering into or performing its obligations set forth in this Agreement. IN WITNESS WHEREOF, the Parties have executed this Development Agreement effective as of the Operative Date. CITY OF MOORPARK Janice S. Parvin, Mayor ATTEST: Maureen Benson, City Clerk 153 Ordinance No. 469 Page 37 GRAND PACIFIC ASSET 2 LLC, a California limited liability company By: Gil Priel – Managing Member 154 Ordinance No. 469 Page 38 EXHIBIT “A” LEGAL DESCRIPTION For APN/Parcel ID(s): 513-0-130-070, 513-0-130-060, 511-0-110-115, 511-0-110-125, 511-0-040-190 and 511-0-110-035 THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF MOORPARK, COUNTY OF VENTURA, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS: Parcel 1: Those portions of Lots "T" and "U" of Tract "L", Rancho Simi, in the City of Moorpark, County of Ventura, State of California, as per Map recorded in Book 5, Page 5 of Maps, in the office of the County Recorder of said County, described as a whole as follows: Beginning at the Southwesterly corner of Lot 1 of Walnut Grove Tract, as per Map recorded in Book 8, Page 22 of Maps; thence along the Westerly line of said Lot 1, 1st: North 10° 48' East 46.25 feet; thence, 2nd: North 0° 26' West 405.9 feet; thence, 3rd: North 89° 34' East 40 feet; thence, 4th: North 0° 26' West 16.91 feet to an angle point in the Northwesterly line of the land described in deed to Pilar Dominguez, recorded August 21, 1942, Book 660, Page 264 of Official Records; thence along said Northwesterly line to and along the Northwesterly line of the land described in deeds to Refugio Garcia, recorded August 21, 1942, Book 660, Page 263; Basilio Reyes, recorded August 21, 1942, Book 660, Page 264; Antonio Aquirre, recorded July 1, 1941, in Book 638, Page 460; Santos Hernandez, recorded August 21, 1942, Book 660, Page 262; Joe Dominguez, recorded August 21, 1942, Book 660 Page 262; and Mary Macias, recorded August 21, 1942, Book 660, Page 261 all of Official Records, by the following three courses, 5th: North 31° 41' East 235.84 feet to an angle point in the Northwesterly line of said land of Basilio Reyes; thence, 6th: North 33° 41' East 339.91 feet to an angle point in the Northwesterly line of said land of Joe Dominguez; thence, 7th: North 35° 48' East 304.7 feet, more or less, to the most Northerly corner of said land of Mary Macias; thence along the Northeasterly line of said last mentioned land, 8th: South 41° 12' East 120.38 feet to the Northwesterly line of said Walnut Grove Tract; thence along said last mentioned Northwesterly line, 9th: North 35° 48' East 56.50 feet to the most Westerly corner of Lot 24 of Walnut Grove Tract; thence along the Westerly prolongation of the Southerly line of said Lot 24, 10th: South 89° 58' East 6.67 feet to the most Easterly corner of the land described in Parcel 2 in deed to Alfonso Valenzuela and wife, recorded October 17, 1957, Book 1558 Page 181 of Official Records; thence along the boundary of said Parcel 2 by the following two courses, 155 Ordinance No. 469 Page 39 11th: North 49° 21' 34" West 140.90 feet; thence in a direct line, 12th: North 1° 35' East 29.5 feet, more or less, to the most Westerly corner of the land described in deed to Eduvijar Addapa, recorded November 19, 1929, Book 290, Page 305 of Official Records; thence along the Northwesterly line of said last mentioned land to and along the Northwesterly line of the land described in deeds to Toribia Rosas Herrez, recorded June 20, 1929, Book 275, Page 37; Jubencio Guerrero, recorded September 27, 1930, Book 328, Page 181; Virginia R. Armenta, recorded June 22, 1940, Book 615, Page 642; Manuel Banuelos, recorded August 21, 1942, Book 659, Page 219; and Patrick J. Chavez, as Administrator, recorded December 29, 1941, Book 648, Page 684 all of Official Records, 13th: North 35° 48' East 565.3 feet, more or less, to the Southerly line of Lot 36 of Vallette Tract, as per Map recorded in Book 3, Page 41 of Maps; thence along the Southerly line of Lots 36 and 32 of said Vallette Tract, 14th: South 89° 53' West 1476.27 feet, more or less, to the Northwesterly corner of the land described in deed to Maxwell W. Wright, recorded October 1, 1914, Book 144, Page 283 of Deeds; thence along the Westerly line of said last mentioned land, 15th: South 1360.3 feet, more or less, to the most Northerly corner of the land described in deed to Letha C. Richards, recorded October 10, 1929, Book 286, Page 292 of Official Records; thence along the boundary of said last mentioned land by the following three courses, 16th: South 68° 17' East 222.42 feet to the Northeasterly corner thereof; thence, 17th: South 4° 01' West 46.56 feet to an angle point; thence, 18th: South 22° 33' East 128.24 feet to the Northeasterly corner of the land described in deed to R. R. Casey, recorded April 3, 1930, Book 309, Page 319 of Official Records; thence along the boundary of said last mentioned land by the following two courses, 19th: South 22° 33' East 9.7 feet to an angle point; thence, 20th: South 28° 54' East 178.22 feet to the most Westerly corner of the land described in Parcel 3 in deed to the County of Ventura, recorded October 21, 1931, Book 358, Page 107 of Official Records; thence along the Northerly line thereof, 21st: North 89° 59' 30" East 266.56 feet to the Westerly line of the land described in deed to County of Ventura recorded December 12, 1922, Book 189, Page 269 of Deeds; thence along said Westerly line, 22nd: North 10° 48' East 47.96 feet to the point of beginning. EXCEPT all public roads lying within said land. ALSO EXCEPT that portion thereof described as follows: Beginning at a point in the Westerly line of the land described in deed to Maxwell W. Wright, recorded October 1, 1914, Book 144, Page 283 of Deeds; being also the Westerly line of the herein before described Parcel 1, distant along said Westerly line North 736.09 feet from the Northwesterly corner of 156 Ordinance No. 469 Page 40 the land described in deed to Moorpark Memorial Union High School District, dated July 3, 1920, recorded in Book 176, Page 275 of Deeds; thence along said Westerly line, 1st: South 285.05 feet to the most Northerly corner of the land described in deed to Letha C. Richards, recorded October 10, 1929, Book 286, Page 292 of Official Records; thence along the Northeasterly line of said last mentioned land, 2nd: South 68° 17' East 222.42 feet to the Northeasterly corner of said land of Letha C. Richards; thence, 3rd: North 4° 01' East 162.37 feet; thence, 4th: North 4° 30' West 152.20 feet; thence, 5th: North 19° 51' West 72.64 feet; thence in a direct line, 6th: South 85° 23' West 182.04 feet to the point of beginning. ALSO EXCEPT the property described in deed recorded February 1, 1957, Book 1479, Page 316 of Official Records, described as follows: Beginning at the Southwest corner of Lot 23 of Walnut Grove Tract; thence, North 35° 48' East 2.17 feet; thence, North 41° 12' West 120.48 feet to the true point of beginning of said Parcel to be described; thence, 1st: North 41° 12' West 33.50 feet to a point; thence, 2nd: South 25° 37' 24" West 184.74 feet to a point; thence, 3rd: North 35° 48' East 174.29 feet to the point of beginning. ALSO EXCEPT 49% of oil, gas and other hydrocarbon substances and minerals, but without the right to enter on the surface or within 500 feet of the surface on a line drawn vertically, as reserved by Arnold F. Dush and Ethel M. Dush, also known as A. F. Dusch and Ethel M. Dusch, in deed recorded May 27, 1959, Book 1739, Page 9 of Official Records. Parcel 2: A part of Lot "U" of Tract "L", Rancho Simi, in the City of Moorpark, County of Ventura, State of California, as per Map recorded in Book 5, Page 5 of Maps, in the office of the County Recorder of said County, and a part of Lots 32 and 36 of Vallette Tract, being a Subdivision of Lot."2", Block "L" of Rancho Simi, as per Map recorded in Book 3, Page 41 of Maps, in the office of the County Recorder of said County, said real property particularly described as an entirety as follows: Beginning at the corner common to Lots "T" and "U", as per Map first above described, and at the corner common to Lots 32 and 36, as per Map last above described; thence from said point of beginning. 1st: North 89° 53' East 10 chains to a redwood fence post set at an angle of fence on spur of hills at the Southwest corner of that certain parcel of land as described in the deed to Maxwell W. Wright to James M. Robinson, dated February 12, 1912, recorded in Book 128, Page 319 of Deeds; thence, 157 Ordinance No. 469 Page 41 2nd: North 89° 58' East 2.715 chains to a point in the West line of Lot 35, as per Map entitled, "Map of Walnut Grove Tract", recorded in Book 8, Page 22 of Maps, in the office of the County Recorder of said County; thence along the Westerly line of Lots 35 to 44, inclusive as per Map last above described, by the following t h r e e courses and distances, 3rd: North 35° 48' East 4.193 chains to a point at an angle in the Westerly line of Lot 40 of Walnut Grove Tract; thence, 4th: North 5° 18' East 2.716 chains to a point in the Westerly line of Lot 43 of Walnut Grove Tract; thence, 5th: North 17° 18' East 1.052 chains; at 0.735 of a chain, the Northwest corner of Lot 44 of Walnut Grove Tract; at 1.052 chains a point in the South line of Lot 36 of Vallette Tract; thence, 6th: North 89° 58' West 20.415 chains to a 2" x 2” stake set on West bank of a barranca at the Northeast corner of that certain parcel of land, containing 4.123 acres, as conveyed by James M. Robinson to George M. Carter, by deed dated February 28, 1919, recorded in Book 162, Page 265 of Deeds; thence Southerly along the general course of the Westerly bank of said barranca by the following two courses and distances, 7th: South 24° 59' East 1.879 chains to a 2" x 2" stake; thence, 8th: South 13° 35' West 5.560 chains to a 2" x 2" redwood stake set on the Westerly bank of said barranca in the South line of Lot 32 of Vallette Tract, and at the Southeast corner of said lands of George M. Carter; from which a 2" x 2" stake set at the Northeast corner of that certain parcel of land, containing 10 acres, as conveyed by Alice M. Graham, et al. to Maxwell W. Wright, by deed dated September 10, 1914, recorded in Book 144, Page 283 of Deeds, bears South 89° 53' West 4.894 chains distant; thence, 9th: North 89° 53' East 5.116 chains along the South line of Lot 32 of Vallette Tract to the point of beginning. Parcel 3: Lot 23 of Walnut Grove Tract, in the City of Moorpark, County of Ventura, State of California, as per Map recorded in Book 8, Page 22 of Maps, in the office of the County Recorder of said County. 158 Ordinance No. 469 Page 42 EXHIBIT “B” ADDRESSES OF PARTIES To City: City of Moorpark 799 Moorpark Avenue Moorpark, CA 93021 Attn: City Manager To Developer: Grand Pacific Asset 2 LLC 300 E. Esplanade Drive, Suite 1550 Oxnard, CA 93036 159