HomeMy WebLinkAboutRES CC 1993 918 1993 0217RESOLUTION NO. 93- 918
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF MOORPARK, CALIFORNIA PASSING ON
PROTESTS, APPROVING THE FINAL ENGINEER'S
REPORT FOR THE CITY OF MOORPARK
ASSESSMENT DISTRICT NO. 92 -1 (MISSION BELL
PLAZA), CONFIRMING THE ASSESSMENTS,
ORDERING THE IMPROVEMENTS AND OTHER
ACTIONS RELATED THERETO
WHEREAS, the City Council of the City of Moorpark, California (the "City
Council "), on August 19, 1992, adopted its Resolution No. 92 -880 (the "Resolution of
Intention ") stating its intention to form a special assessment district under and pursuant
to the Municipal Improvement Act of 1913 (the "Improvement Act "), being Division 12
of the California Streets and Highways Code, and to issue bonds related thereto under
and pursuant to the Improvement Bond Act of 1915 (the "Bond Act "), being Division 10,
including Part 10.7 of the California Streets and Highways Code, for the financing,
acquisition, construction and installation of certain public improvements, the special
assessment district to be known as "City of Moorpark Assessment District No. 92 -1
(Mission Bell Plaza)" (the "District "); and
WHEREAS, pursuant to the Resolution of Intention, a report (the "Engineer's
Report") containing plans and specifications, an estimate of costs of the work and
improvements, a diagram, the proposed assessments according to benefit and other
information called for by law and as required by Section 10204 of the Improvement Act
and Part 7.5 of Division 4 of the California Streets and Highways Code (commencing
with Section 2960), was duly made and filed with the City Clerk of the City of
Moorpark, California (the "City "), and presented to the City Council, and is incorporated
herein by reference; and
WHEREAS, the City Council, on November 18, 1992, adopted Resolution
No. 92 -896, whereby the City Council duly considered the Engineer's Report, found that
the Engineer's Report was done in the form and manner required by law, preliminarily
approved the Engineer's Report, declared that the Engineer's Report should stand as the
report for the purpose of all subsequent proceedings under the Improvement Act and
called for a public hearing to be held on the proposed District, the proposed work and
improvements, the proposed assessments, the Engineer's Report and the City Council's
intent to issue limited obligation bonds; and
ELI
WHEREAS, in accordance with the Improvement Act, notice of two (2) public
hearings concerning the proposed District, the proposed work and improvements, the
proposed assessments, the Engineer's Report and the City Council's intent to issue
limited obligation bonds, to be held on January 6, 1993 and January 20, 1993, was duly
given by mail to each property owner within the District, and by publication in the
Moorpark News Mirror on December 3, 1992 and December 10, 1992, in the form and
manner provided by law and as evidenced by affidavits on file with the transcript of these
proceedings; and
WHEREAS, at the January 6, 1993, and January 20, 1993, public hearings,
certain owners of property liable to be assessed for the work and improvements filed
written protests or objections and delivered the same to the City Clerk not later than the
times set for the hearing of such objections; and
WHEREAS, at the January 20, 1993, City Council meeting, the City Council
opened the second public hearing, and in order to give the City's Public Works, Facilities
and Solid Waste Committee (the "Committee ") additional time to meet with concerned
property owners and to discuss the deferment and loan program hereinafter described,
the second public hearing was continued to February 3, 1993 and then again continued
to February 17, 1993; and
WHEREAS, at the public hearings, all persons desiring to be heard on all matters
pertaining to the proposed District, the proposed work and improvements, the proposed
assessments, the Engineer's Report and the City Council's intent to issue limited
obligation bonds, were heard and their concerns fully considered, and all matters as to
the method and formula of the assessment spread and the determination as to whether or
not the properties did receive a benefit and whether the assessments were apportioned in
accordance to benefit were heard and fully considered; and
WHEREAS, at the conclusion of the continued second public hearing, the owners
of at least one -half (1/2) of the area of land within the District, did not file written
protests, and the City Council considered and overruled all other protests; and
WHEREAS, the Engineer's Report states that the total amount of the principal
sum of all unpaid special assessments levied against the parcels proposed to be assessed,
plus the principal amount of the special assessment proposed to be levied in the instant
proceedings, does not exceed one -half ('h) of the total value of the parcels proposed to
be assessed; and
WHEREAS, an initial environmental study has been completed for the District
in compliance with the California Environmental Quality Act of 1970 (commencing with
California Public Resources Code Section 21000) ( "CEQA ") and the City's CEQA
Guidelines, which indicates that the project does not have a significant effect on the
environment and that approval of a Negative Declaration would be appropriate; and
;,
WHEREAS, pursuant to the Committee's meetings by itself and with concerned
property owners, it is in the best interest of both the City and the concerned property
owners for the City to develop a deferment and loan program for owners of property
within the District who use their property solely for residential and /or agricultural
purposes. The program provides that the City lend the assessment amount to qualified
property owners from its Los Angeles Avenue Area of Contribution funds and that
participating property owners repay such loan upon the occurrence of certain specified
events;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK,
CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND DECLARE THAT:
Section 1. The above recitals are all true and correct.
Section 2. All protests and objections of every kind and nature be were
considered, and the same hereby are, overruled and denied, and it is further determined
that said protests and objections are made by owners of less than one -half (1 /2) of the
area of property to be assessed within the District.
Section 3. All properties within the District receive a local and direct benefit
from the work and improvements as proposed and all assessable costs and expenses have
been apportioned and spread over the properties within the boundaries of the District in
direct proportion to the benefits received thereby.
Section 4. The final Engineer's Report, as now submitted to the City Council,
and with such modifications and amendments, if any, as directed by the City Council
upon the close of the public hearings (the "Final Engineer's Report"), is hereby
incorporated by reference and made a part of the record. Such final Engineer's Report
shall stand as the report for the purpose of all subsequent proceedings for the District and
shall govern all details thereof.
Section 5, The Final Engineer's Report is hereby confirmed and approved.
The assessments of the costs and expenses of the work and improvements contained in
the Final Engineer's Report are hereby confirmed and approved and such assessments are
hereby levied upon the respective parcels of land as set forth in the Final Engineer's
Report. The diagram (the "Diagram ") for the District as presented to the City Council
in the Final Engineer's Report is hereby confirmed and approved and the District is
hereby formed.
Section 6. The public interest and convenience require the work to be done and
the improvements to be constructed, and, therefore, it is hereby ordered that the work
be done and the improvements be constructed in accordance with the Resolution of
Intention and the Final Engineer's Report for the District.
SU. - I -
Section 7. This Resolution shall be final as to all persons and the assessments
is hereby levied upon the respective parcels of land in the District according to the Final
Engineer's Report.
Section g. The total amount of the principal sum of all unpaid special
assessments levied against the parcels proposed to be assessed, plus the principal amount
of the special assessment proposed to be levied in the instant proceedings, does not
exceed one -half ('h) of the total value of the parcels proposed to be assessed, and this
finding shall be final and conclusive.
Section 9. The City Clerk shall forthwith deliver to the Superintendent of
Streets the assessments, together with the Diagram attached thereto and made a part
thereof, as confirmed, with the certificate of the City Clerk of such confirmation attached
and the date thereof; and the Superintendent of Streets shall immediately record the
Diagram and assessments in his office in a book suitable for such purpose and attach
thereto his certificate of the date of such recording.
Section 10. The City Clerk shall file a copy of the Diagram in the office of the
County Recorder of the County of Ventura (the "County ") and cause to be paid the filing
fee therefor.
Section 11. The City Clerk shall execute and record a Notice of Assessment in
the office of the County Recorder of the County.
Section 12. Upon the recording of the Diagram and the Notice of Assessment,
the City Clerk shall mail to each owner of property within the District at his or her last
known address as the same appears on the tax rolls of the County or on file in the office
of the City Clerk, a statement containing a designation by street number or other
description of the property assessed sufficient to enable the owner to identify the same,
the amount of the assessment, the time and place of the payment thereof, the effect of
failure to pay within such time, and a statement of the fact that bonds will be issued on
the unpaid assessments pursuant to the Bond Act.
Section 13. The City Clerk shall publish once a week for two (2) consecutive
weeks in a newspaper of general circulation within the City a Notice of Recordation of
Assessment.
Section 14. The City Council shall deposit all funds collected during the 30 -day
cash collection period in the District Improvement Fund (the "Improvement Fund ")
established by the Resolution of Intention.
Section 15. The City Council has considered the Negative Declaration prepared
for the District which is on file with the City Clerk and finds, on the basis of the initial
study attached thereto, that there is no substantial evidence that the project will not have
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a significant effect on the environment. The Negative Declaration respecting the District
is hereby approved and the City Clerk shall record the Notice of Determination in the
office of the County Recorder.
Section 18, The City hereby determines that it is in the best interests of both the
City and the concerned property owners for the City to develop a deferment and loan
program for owners of property within the District who use their property solely for
residential and /or agricultural purposes.
Section 19. The City hereby approves the deferment and loan program and
authorizes the advance of funds from the Los Angeles Avenue Area of Contribution Fund
for such purposes as set forth in the "Deferment and Loan Agreement ". The form of the
"Deferment and Loan Agreement" presented at this meeting, and attached hereto and
incorporated herein as Exhibit A, is hereby approved, and the Mayor, City Manager or
other authorized official of the City and the City Clerk of the City are authorized and
directed to execute the Deferment and Loan Agreement in substantially the form hereby
approved, with such additions thereto and changes therein as are recommended and
approved by the City Manager and Bond Counsel, with such approval to be conclusively
evidenced by the execution of the Deferment and Loan Agreement with individual
participating property owners.
Section 20, The City Clerk shall certify to the adoption of this Resolution, and
thenceforth and thereafter the same shall be in full force and effect.
PASSED, APPROVED AND ADOPTED this 17th day of February, 1993.
ATTEST:
40.
City Clerk
Paul W. fawrason Jr., Mayor
EXHIBIT "A"
FORM OF DEFERMENT AND LOAN AGREEMENT
40.
WHEN RECORDED RETURN TO:
Cheryl J. Kane, Esq.
City Attorney, City of Moorpark
c/o Burke, Williams & Sorensen
611 West Sixth Street, Suite 2500
Los Angeles, California 90017
DEFERMENT AND LOAN AGREEMENT
REGARDING CITY OF MOORPARK ASSESSMENT DISTRICT NO. 92 -1
(MISSION BELL PLAZA)
This Deferment and Loan Agreement (the "Agreement ") is entered into this
day of , 1993, by and between the CITY OF MOORPARK,
CALIFORNIA (the "City "), a municipal corporation and
_ _ __ (the "Property Owner ").
RECITA1,S
A. The Property Owner is the owner of certain real property in the County
of Ventura (the "County "), State of California, more particularly described in
Exhibit "A" attached hereto and incorporated herein by reference (the "Property ").
B. On or about August 10, 1992, the City received a petition requesting that
the City form the City of Moorpark Assessment District No. 92 -1 (Mission Bell Plaza)
(the "District "), pursuant to the Municipal Improvement Act of 1913 (the "Act "), issue
assessment bonds and levy special assessments on benefitted property owners within the
District boundaries to finance the costs of certain public capital improvements. The
Property is within the boundaries of tl 1)i,tnct
4:(,
C. On August 19, 1992, at a regular meeting of the City of Moorpark City
Council (the "City Council "), the City Council adopted its Resolution No. 92 -880, which
declared the City's intention to order the creation of the District, issue bonds and levy
assessments on parcels, including the Property.
D. On November 18, 1992, at a regular meeting of the City Council, the City
Council adopted its Resolution No. 92 -896, which preliminarily approved the Engineer's
Report (the "Report") relating to the District.
E. Two public hearings concerning the District were held. The Property
Owner was duly and properly notified of these hearings by first -class mail and by
publication in the Moorpark News - Mirror. At such public hearings, held on January 6,
1993, January 20, 1993, February 3, 1993, and continued until February 17 at the City
Council Chamber, written protests were received in connection with the District,
including a written protest from the Property Owner
F. As a result of the public hearings, the Public Works, Facilities and Solid
Waste Committee (the "Committee ") met with owners of property within the District,
including the Property Owner, to address the concerns raised at the public hearings.
G. This Agreement is the result of the meetings and discussions between the
Committee and the Property Owner, and the City's recognition of potential financial
inability or difficulty in timely paying the assessments by certain owners of property
within the District currently used for residential or agricultural purposes.
H. . On February 17, 1993, at a regular meeting of the City Council, the City
Council adopted its Resolution No. 93 -_ which formed the District, levied an
assessment in the amount of $ _ _ on the Property and authorized the City
to enter into this Agreement.
NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and agreements contained herein, the parties do hereby covenant and agree as
follows:
Section I. Deferment and Reimbursement of Assessment Amounts.
A. Property Use. The Property Owner hereby represents and warrants that
the Property is currently used solely for residential and /or agricultural purposes.
1;(,..
B. Rights-Of-Way. The Property Owner shall either dedicate and receive a
corresponding credit to lower the Advance (as hereinafter defined) or
transfer for a mutually agreed upon price, any and all rights -of -way on the
Property relating to the Improvements as determined by the City. The
Property Owner hereby agrees to execute any documentation necessary to
effectuate such dedication or transfer.
C. City's Advance. The City shall advance the sum of $ ,
representing the total amount of the Property Owner's assessment levied
on the Property (the "Advance "), upon execution of the Agreement, and
delivery by the Property Owner of a Promissory Note (the "Note ")
secured by a Deed of Trust and Assignment of Rents for the City's benefit
(the "Deed of Trust ") in substantially the form of Exhibit "B" attached
hereto and incorporated herein by reference. The Advance shall be
deposited in the "City of Moorpark Assessment District No. 92 -1 (Mission
Bell Plaza) Improvement Fund ", to discharge and remove the assessment
lien on the Property. The Property Owner shall execute the Agreement,
and Note and Deed of Trust and the City shall make its Advance on behalf
of the Property Owner during the thirty (30) day cash collection period
beginning February 17, 1993, and ending March 20, 1993. The City shall
record the Deed of Trust. The Advance shall be payable solely, and only
to the extent funds are available, from moneys on deposit in the City's
Los Angeles Avenue Area of Contribution Fund (the "LAAOC Fund ").
The principal amount of the Note shall equal the amount of the Advance.
If the amount of the assessment is hereafter reduced, the amount of the
Advance shall be correspondingly reduced and the Property Owner shall
execute an amended Note. Any default under the Note shall constitute a
default under the Agreement
D. Interest. The Advance, evidenced by the Note, shall bear simple interest
at the variable rate equivalent to the Local Agency Investment Fund
( "LAIF ") rate of interest determined on the first day of each month, but
in no event shall the interest rate exceed seven percent (7 %) per annum.
If LAIF is discontinued or revised, such successor fund or computation
with which LAIF is replaced shall be used in order to obtain substantially
the same result as would otherwise have been obtained if LAIF had not
been discontinued or revised. The Property Owner may pay to the City
once during a calendar year all interest currently due and owing on the
Note. The Property Owner shall contact the City Treasurer and request
the amount of interest to be calculated. The City shall not be obligated
to perform such calculation more than once a calendar year. Interest shall
be payable in lawful nione:v of the United States of America, without set
off, deduction or an11t: r�l,um. +)y c.i`hier's check or other immediately
available funds.
4 >..
E. Repayment. Repayment by the Property Owner of the Advance, plus
accrued interest, shall be immediately due and payable in lawful money
of the United States of America, without set off, deduction or counter-
claim, by cashier's check, or other immediately available funds, upon the
earliest occurrence of any one of the following events:
1. The date on which the City issues a building permit with a
valuation of over $1,000 for the Property (other than a building
permit for walls) pursuant to the laws and regulations currently in
existence or which may be in effect from time to time.
2. The date on which a City official executes an approved final map
of the Property to permit recordation or the date of a court order to
subdivide the Property
3. The expiration of thirty (30) years from the date hereof.
F. Pre - Payment. The Property Owner may prepay in full, without penalty
the principal and accrued interest on the Note prior to the occurrence of
any of the events specified above in Section II.E .
G. Existing Liens and Title Report. The Property Owner hereby represents
and warrants that Exhibit "C" attached hereto and incorporated herein by
reference contains a true, correct and complete list of all mortgages, liens
or other encumbrances on or affecting the Property as of the date of this
.Agreement. Prior to execution of this Agreement, a preliminary title
report shall be provided by the Property Owner at his or her expense.
Section II. Miscellaneous.
A. Not A City Debt. This Agreement shall not be construed as a debt of the
City within the meaning of any constitutional or statutory debt limitation
or restriction, nor as a legal or equitable pledge, charge, lien or
encumbrance upon any City property, City income, City receipts or City
revenues, except as provided herein. No officers, employees or agents of
the City shall in any event be personally liable hereunder.
B. Advance Solely from the l_AAOC Fund. The LAAOC Fund shall be the
sole source of the Advance to the Property Owner. The City's general
fund, its credit, and its taxing power are not liable for any obligation to
the Property Owner arising mit of this Agreement.
4It. _4
C. Indemnification. The Property Owner shall indemnify and hold harmless
the City and its officers, employees, servants and agents against any
liability (including but not limited to, liability under any federal or state
law or regulation regarding hazardous materials), claims, demands,
damages or costs, including attorneys' fees, arising out of, or in
connection with, this Agreement, except to the extent the same are directly
caused by the gross negligence or wilful misconduct of the City.
Section III. General Provisions.
A. Notices. Any notices or other communication which either party is
required or desires, to give under this Agreement, shall be made by
personal delivery or by deposit in the United States mail, duly certified or
registered, return receipt requested, with postage prepaid, and addressed
to the party for whom intended, as follows:
To the City at:
City of Moorpark
799 Moorpark Avenue
Moorpark, California 93021
Attn: City Manager
To the Property Owner at:
[list names and addresses]
Any party to this Agreement may from time -to -time, by written
notice to all other parties, designate a different address which shall be
substituted for the one specified above.
B. Governing Law. This Agreement shall be governed by the laws of the
State of California.
C. Interpretation. Should interpretation of this Agreement, or any portion
thereof, be necessary, it shall be deemed that the Agreement was prepared
by the parties jointly and equally, and shall not be interpreted against any
party on the ground that the party prepared the Agreement or caused it to
be prepared. The section headings are solely for the purposes of
convenience and shall not be construed to limit or extend the meaning of
this Agreement.
D. Entire Agreement. This Agreement with its attached Exhibits, and the
Note and Deed of Trust constitute the entire agreement between the City
and the Property Owner with respect to the subject matter hereof.
E. Severability. The parties agree that if any section, paragraph, sentence or
clause of this Agreement is declared by a court of competent jurisdiction
to be unenforceable or void by reason of public policy or otherwise; the
remaining provisions of this Agreement shall nonetheless remain enforced
to the fullest extent permitted by law.
F. Attorneys' Fees. In the event a legal proceeding is brought by the
Property Owner or the City for the enforcement of, or the declaration of
rights pursuant to, this Agreement, the prevailing party in such proceeding
shall be entitled to recover its reasonable costs and expenses, including
reasonable attorneys' fees, from the losing party, and any judgment or
decree rendered in such proceeding shall include an award thereof.
G. Modification. This Agreement shall not be modified except by the written
agreement of the parties.
H. Successors and Assigns. This Agreement shall in all respects bind, and
.inure to the benefit of, the heirs, executors, administrators, successors and
assigns of each of the parties. The Deed of Trust shall be fully assumable
by any successors in interest to the Property and notice thereof shall be
provided to the City.
I. Recordation. Upon execution of this Agreement, this Agreement, or a
memorandum thereof, shall be recorded in the Official Records of the
County.
13o f,_
IN WITNESS WHEREOF, the City of Moorpark, California, and the Property
Owner have duly executed this Agreement as of the date first written above.
CITY OF MOORPARK, CALIFORNIA
ATTEST:
Lillian Hare, City Clerk
Mayor
[signature lines for each property owner to follow]
4 ;�
EXHIBIT "A
THE PROPERTY
116'.
EXHIBIT "B"
PROMISSORY NOTE
SECURED BY DEED OF TRUST
This Promissory Note (the "Note ") is dated and effective as of , 1993, by and
between the City of Moorpark, California (the "City "), a municipal corporation and
(the "Property Owner "). The City and the Property Owner agree as follows:
1. Deferment and Agreement. This Note is issued pursuant to and subject to the
terms and conditions of that certain agreement entitled "Deferment and Loan Agreement" by and
between the City and the Property Owner dated , 1993 (the "Agreement "). This
Note represents money advanced to the Property Owner by the City in the amount of the
Property Owner's assessment levied on certain real property in connection with the City of
Moorpark Assessment District No. 92 -1 (Mission Bell Plaza) (the "District "), pursuant to and
subject to the Agreement. Any default under the Agreement shall constitute a default under this
Note.
2. Repayment of Advance. For the above - described value received, the Property
Owner promises to pay to the City, or order, at: The City of Moorpark, 799 Moorpark Avenue,
Moorpark, California 93021, Attention: City Manager, or at such other place as the City may
from time to time designate by written notice to the Property Owner, the principal sum of
$ dollars ($ ), with simple interest on the unpaid principal sum
on the date hereof, at the variable rate equivalent to the Local Agency Investment Fund
( "LAIF ") rate of interest determined on the first day of each month, but in no event shall the
interest rate exceed seven percent (7 %) per annum. If LAIF is discontinued or revised, such
successor fund rate or computation with which 1_AIF is replaced shall be utilized. Interest shall
be based on a 360 -day year, consisting of twelve (12) 30 -day months. Principal and accrued
interest shall be due and payable in lawful money of the United States of America, without set
off, deduction or counter - claim, by cashier's check, or other immediately available funds upon
the earliest occurrence of any one of the following events:
a. The date on which the City issues a building permit with a valuation of
over $1,000 for the Property (other than a building permit for walls)
pursuant to the laws and re,,ulations currently in existence or which may
be in effect from time io rile e.
5 .),,. 4
b. The date on which a City official executes an approved final map of the
Property or the date of a court order to subdivide the Property.
C. The expiration of thirty (:30) years from the date hereof.
3. Default Interest Rate. If the Property Owner defaults under the Agreement,
interest for the period commencing with the date of default and ending when full payment is
made to the City shall be simple interest at seven percent (7 %). The City has no intent to
require the Property Owner to pay interest at a rate higher than the lawful rate.
4. Prepayment of the Note. At the option of the Property Owner, the principal sum
of this Note and all accrued interest may be prepaid, without penalty, in whole, at any time prior
to its maturity. The Property Owner may pay to the City once during a calendar all interest
currently due and owing on the Note. The Property Owner shall contact the City Treasurer and
request the amount of interest to be calculated. The City shall not be obligated to perform such
calculation more than once a calendar year.
5. Cost of Collection. The Property Owner agrees to pay the following costs,
expenses and attorneys' fees paid or incurred by the City, or adjudged by a court: (1) reasonable
costs of collection, costs, expenses and attorneys' fees paid or incurred in connection with the
collection or enforcement of this Note, whether or not suit is filed; and (2) costs of suit and such
sum as the court may adjudge as attorneys' fees in an action to enforce payment of this Note or
any part of it.
6. Security for Note. The Property Owner's indebtedness evidenced by this Note
is secured by a Deed of Trust and Assignment of Rents (the "Deed of Trust ") encumbering the
Property Owner's real property in Ventura County, California, and within the District
boundaries. The property is more fully described in the Deed of Trust.
7. Forbearance Not A Waiver: Remedies Cumulative. No delay or omission on the
part of the City in exercising any rights remedies, powers or privileges under this Note, the
Deed of Trust or any other agreements, shall operate as a waiver of such right, remedy, power
or privilege or any other right, remedy, power or privilege under this Note, Deed of Trust or
any other agreements. No exercise or partial exercise of any right, remedy, power or privilege
shall preclude any other or further exercise of such right, remedy, power or privilege or the
exercise of any other right, remedy, power or privilege. No right, remedy, power or privilege
conferred upon the City by the Agreement, Note or Deed of Trust or by any other agreements,
is intended to be exclusive of any other right, remedy, power or privilege provided or permitted
by the Agreement, the Note, the Deed of "Crust, ativ other agreements or by law, but each shall
be cumulative and in addition to every other right, remedy, power or privilege so provided or
permitted and each may be exercised concurrentl,, or independently from time -to -time and as
often as may be deemed expedient by the Ultv
4 ?O,
8. Assiiznment. The City shall have the right to sell, assign or otherwise transfer,
either in part or in its entirety, this Note, the Deed of Trust, and any other instrument
evidencing or securing the indebtedness of this Note without the consent of the Property Owner.
9. Successors and Assigns. To the extent permitted by this Note and by operation
of law, this Note and all of its covenants, promises and agreements contained in it shall be
binding on, and inure to the benefit of, the respective legal and personal representatives,
devisees, heirs, successors and assigns of the City and the Property Owner. The Deed of Trust
shall be fully assumable by any successors in interest to the Property and notice thereof shall be
provided to the City.
10. Time Is Of The Essence. Time is of the essence for each and every obligation
under this Note.
IN WITNESS WHEREOF, this Note is executed at , California, on
the day of , 1993, and the provisions hereof are hereby accepted by the
City of Moorpark, California, as of said date.
ACCEPTED:
ATTEST:
CITY CLERK
PROPERTY OWNER
By- --
CITY OF MOORPARK, CALIFORNIA
By____
MAYOR
EXHIBIT "C"
LIST OF ENCUMBRANCES
MOORPARK
799 Moorpark Avenue Moorpark, California 93021 (805) 529 -6864
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) 3S.
CITY OF MOORPARK )
I, Lillian E. Hare, City Clerk of the City of Moorpark,
California, do hereby certify under penalty of perjury that
the foregoing Resolution No. 93 -918 was adopted by the
City Council of the City of Moorpark at a meeting held on
the 17th day of FEBRUARY -., 1993, and that the same
was adopted by the following vote:
AYES: COUNCILMEMBERS HUNTER, MONTGOMERY, PEREZ AND WOZNIAK
NOES: NONE
ABSENT: MAYOR LAWRASON
ABSTATN: NONE
this
PAUL W LAWRASUN .ik
Mayor
WITNESS my hand and the official seal of said City
18th day of FEBRUARY 1993.
City -'lurk
rr
SCOT1 MONTGOMELO PATRi(.K H 1NTFR BERNARDO M PERE/ ,,-N E WOZNIAK
Mayor Pro Tom Cournilmi•mbee Counalmember COUnalmember