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12-0215_OLSON REAL ESTATE GROUP, INC._Agreement for Deferral of ImprovementsRECORDING REQUESTED BY: City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 AND WHEN RECORDED, MAIL TO: Maria Morris, City Clerk City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 Exempt from Recording Fees: Gov Code 27383 & 6903 City of San Juan Capistrano Title of Document: Recorded In Official Records, Orange County Tom Daly, Clerk -Recorder 11111111 lj[j III Jill 111111111111 jjjjIII[ jjjj jjjj� 111111111111111111 N0 FEE *$ R 0 0 0 4 5 5 a 5 5 4$* 2012000085858 9:10 am 02115112 62 417 Al2 7 0.00 0.00 0.00 0.00 18.00 0.00 0.00 0.00 ' This Space for Recorder's Use Only f-4 AGREEMENT FOR DEFERRAL OF IMPROVEMENTS Architectural Control (AC) 10-18, Marriott Residence Inn between THE CITY OF SAN JUAN CAPISTRANO, a California municipal corporation and Olson Real Estate Group, Inc. Agreement for Deferral of Improvements AC 10-18, Marriott Residence Inn Pane 2 of 5 I. PARTIES AND DATE. This Agreement for the Deferral of Improvements ("Agreement") is entered into on this � day of1(,°,� 2012, by and between the City of San Juan Capistrano, a California muAcipal corporation ("City") and, Olson Real Estate Group, Incorporated with its principal office located at 2955 Main Street, Third Floor; Irvine, California 92614. II. RECITALS. A. On December 14, 2010, the Planning Commission of the City of San Juan Capistrano adopted PC Resolution No. 10-12-14-04 approving Architectural Control (AC) 10-18. This project approval became effective on December 29, 2010 and includes the property located at 33711 Camino Capistrano on a 4.5 acre parcel more precisely referred to as Assessor Parcel Number (APN) 121- 254-44. B. The application has been approved for construction of a 130 -room Marriott Residence Inn, extended -stay hotel totaling 91,489 square feet of building area. The proposed hotel would be three -stories with the main roof elements extending to a maximum height of thirty-seven feet, six inches (37'-6"), and with non - habitable, architectural elements extending to a maximum height of fifty feet (50'- 0"). The proposed project includes a minor exception to reduce the hotel parking standard from the City's minimum standard of 1.0 space per guest room to 0.94 space guest room. C. Developer has constructed certain improvements on the Project Site in accordance with the approval granted by PC Resolution No. 10-12-14-04. D. Developer desires to obtain a Certificate of Occupancy (C of O) for the Project Site in order to allow utility connections and occupancy of the building. Agreement for Deferral of Improvements AC 10-98, Marriott Residence Inn Pape 3 of 5 E. Developer desires to defer the installation of Historic Depiction Program (HDP) improvements required by City Council Policy and the Planning Commission's adopted conditions of approval and City agrees to such deferment in accordance with the terms contained herein. III. EXPIRATION OF AGREEMENT. This agreement shall expire upon the completion of all the project improvements required by Resolution PC No. 10-12-14-04: IV. TERMS. 1. AGREEMENT BINDING ON SUCCESSOR IN INTEREST. This agreement is an instrument affecting the title to or possession of the real property described in Section 11.1 above. Upon sale or division of the property described in Exhibit 1, the terms of this Agreement shall apply separately to each parcel, and the owner of each parcel shall succeed to the obligations imposed on Developer by this Agreement. 2. IMPROVEMENTS TO BE DEFERED. No later than six (6) months from the date of execution of this agreement, Developer shall secure Cultural Heritage Commission and Planning Commission approval of the Historic Depiction Program (HDP) for the subject project, shall complete installation of the City - approved HDP, and shall secure Development Services Department staff acceptance of the completed HDP as being consistent with City -approved plans. City shall cooperate with Developer to secure timely Commission approval of the Historic Depiction Program (HDP). 3. CASH DEPOSIT. The Cash Deposit for faithful performance, labor, and materials for improvements submitted by Developer to City in the amount of $10,000 (ten Agreement for Deferral of Improvements AC 10-18. Marriott Residence Inn Pape 4 of 5 thousand dollars and no cents) shall be deemed by City as adequate surety to ensure completion of improvements as specified in this Agreement. Upon the completion of all improvements cited in Section 2 of this agreement by Developer and at Developer's request, City shall process and refund deposited monies provided herein. The refunded amount shall be equal to the original deposit amount. 5. INDEMNIFICATION. Developer agrees to protect, defend and hold harmless City, its elected and appointed officials and employees from any and all claims, liabilities, expenses or damages of any nature, including attorneys' fees, for injury or death of any person or damage to property or interference with use of property and for errors and omissions committed by Developer arising out of or in connection with the work, operation or activities of Developer, its agents, employees and subcontractors in carrying out its obligations under this Agreement. 6. QUALITY OF WORK. All improvements as described in the Agreement shall be constructed and installed pursuant to City review and approval. The construction plans and specifications for the improvements shall be prepared in accordance with all applicable federal, state and local laws, ordinances, regulations and other requirements. In addition, the improvements shall be completed in accordance with all maps, plans and specifications on file with City, as well as all applicable federal, state and local laws, ordinances, regulations and other requirements. Developer understands and agrees that all work and improvements done pursuant to this Agreement shall conform to the standards applicable at the time work is actually commenced. V. DEMAND TO PERFORM. Upon default of any obligation hereunder, and at any time after any such default, City may make written demand upon Developer or its surety, or both, to immediately remedy Agreement for Deferral of Improvements AC 10-18 Marriott Residence Inn Page 5 of 5 the default or complete the improvements. If the required work is not substantially commenced within ten (10) days of such demand, or if it is not thereafter diligently pursued to a completion acceptable to City within the time frame contained in the demand, City may then complete all remaining work, manage for the completion of all remaining work, and/or conduct such remedial activity as it deems necessary, in its sole discretion. All such work or remedial activity shall be at the sole and absolute expense and obligation of Developer and its surety, without the necessity of City giving any further notice to Developer or surety. City's right to take such actions shall in no way be limited by the fact that Developer or its surety may have constructed any portion of the required improvements at the time of City's demand for performance. In the event City elects to complete or contract for completion of the remaining work and improvements, City may require all work by Developer or its surety to cease in order to permit adequate coordination by City. In addition, City may revoke the Certificate of Occupancy and/or withhold issuance of any future permits until the default is remedied to the satisfaction of city. THE CITY OF SAN JUAN CAPISTRANO By: /%✓1 47S '✓ Date: 1-2-'1-12- Grant L`11ZGrant Taylor, Development Services Director Olson Real Estate Group Inc. By: Date: Robert A. Olson CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of CIVIL CODE §Hee On U"- . Iq, anyi before me, I -°�' Tn Oaler tt ��//11 Ne,O 1no,I NnmUa ll. Ne 1�/ personally appeared 206e_� 4>!!_, meUml s' am KRISTY MUTCN Commis 1926075 -: Notary Public - Calilornla i Orange County > AlComm. trainee Apr 6, 2015 J who proved to me on the basis of satisfactory evidence to be the person(* whose name* is/are subscribed to the within instrument and acknowledged to me that he/akWhgt executed the same in his/herAAMeir- authorized capacity(Eal and that by his/Meatheir signatureW on the instrument the person(d), or the entity upon behalf of which the personal acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Sianature Plar»wo,Sn>I A.. SI WrPUI fl0(ey FEW OPTIONA Though the information below is not required by law, if may prove teluable to reons relying on the document and could prevent fraudulent removal and reattachment o/ this form to another document. Description of Attached Rocument Title or Type of Document: . A. 0, Document Dale: Number of Pages: Signers) Other Than Named Above: _ Capacity(les) Claimed by Signer(s) Signer's Name: Corporate Officer — Title(s): Individual Limited CGenerel Ton or womb bare Panner — Signer's Name: Corporate Officer — Tllle(s): Individual Panner — Limited _. Attorney in Fact i Attorney in Fact i Trustee I I Trustee Guardian or Conservator -1 Other: Signer is Representing: ❑ General Top of thumb here I I Guardian or Conservator Signer is Representing: O POte Nallonel Nolery Aeaodallon - NalionelNolery.wp - I . US NOTARY N San 816 6821) Ilam IS., PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT State of California ) County of Orange ) as, City of San Juan Capistrano ) (Gov't Code 40814 & Civil Code 1181) On January 24, 2012, before me, Maria Morris, City Clerk, personally appeared Grant Taylor, Development Services Director, who proved to me on the basis of satisfactory evidence to the be person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/there signature on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. (SEAL) A Capacity Claimed by Signers Development Services Director Title Signer is Representing City of San Juan Capistrano and official seal. Maria OPTIONAL Description of Attached Document Title or Type of Document Agreement for Deferral of Improvements — Architectural Control (AC) 10-18, Marriott Residence Inn; The City of San Juan Capistrano and Olson Real Estate Group, Inc Date of Document: January 24, 2012 Number of Pages: 7 9. MEMORANDUM JanuaryQ 2012 TO: Christy Jakl, Deputy City Clerk �� ) FROM: Ayako Rauterkus, Management Anaw SUBJECT: Recording of Agreement for Deferral of Improvements, Architectural Control (AC) 10-018, Marriott Residence Inn Please send the attached agreement to the County Recorder's office. Once it's recorded, please provide us a copy and the original should be fled with the City Clerk's office. m Attachments 32400 PASEO ADELANTO SAN JUAN CAPISTRANO, CA 92675 (949) 493-1171 (949) 493.1053 FAX ►v►vw.sat juaNcaplstrano.ag February 7, 2012 Clerk -Recorder's Office County of Orange P.O. Box 238 Santa Ana, California 92701 MEMBERS OF THE CITY COUNCIL SAM ALLEVATO LAURAFREESE LARRYKRAMER DEREK REEVE JOHN TAYLOR Re_ : Document for Recording — Agreement for Deferral of Improvements (Marriott Residence Inns) The noted documents are enclosed for recording: Agreement for Deferral of Improvements (Marriott Residence Inns) When placed of record, please return the recorded documents to this office. Thank you for your. assistance. Kindest Re ards, 0 k Christy Jakl Deputy City Clerk San Juan Capistrano: Preserving the Past to Enhance the Futui e 0 Pooled anIW%rogdodpapw RECORDING REQUESTED BY: City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 AND WHEN RECORDED, MAIL TO: Maria Morris, City Clerk City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 Exempt from Recording Fees: Gov Code 27383 & 6103 City of San Juan Capistrano This Space for Recorder's Use Only Title of Document: AGREEMENT FOR DEFERRAL OF IMPROVEMENTS Architectural Control (AC) 10.18, Marriott Residence Inn between THE CITY OF SAN JUAN CAPISTRANO, a California munici and Olson Real Esta Agreement for Deferral of improvements AC 904A Marriyott'Residence inn Pane 2 of 5 I. PARTIES AND DATE. This Agreement for the Deferral of Improvements ("Agreement") is entered into on this AA day of 2012, by and between the City of San Juan Capistrano, a California mu cipal corporation ("City") and, Olson Real Estate Group, Incorporated with its principal office located at 2955 Main Street, Third Floor; Irvine, California 92614. II. RECITALS. A. On December 14, 2010, the Planning Commission of the City of San Juan Capistrano adopted PC Resolution No. 10-12-14-04 approving Architectural Control (AC) 10-18. This project approval became effective on December 29, 2010 and includes the property located at 33711 Camino Capistrano on a 4.5 acre parcel more precisely referred to as Assessor Parcel Number (APN) 121- 254-44. B. The application has been approved for construction of a 130 -room Marriott Residence Inn, extended -stay hotel totaling 91,489 square feet of building area. The proposed hotel would be three -stories with the main roof elements extending to a maximum height of thirty-seven feet, six inches (37'-6"), and with non - habitable, architectural elements extending to a maximum height of fifty feet (50'- 0"). The proposed project includes a minor exception to reduce the hotel parking standard from the City's minimum standard of 1.0 space per guest room to 0.94 space guest room. C. Developer has constructed certain improvements on the Project Site in accordance with the approval granted by PC Resolution No. 10-12-14-04. D. Developer desires to obtain a Certificate of Occupancy (C of O) for the Project Site in order to allow utility connections and occupancy of the building. Agreement for Deferral of Improvements AC 10-M Mamlott Residence Inn Page 3 of a E. Developer desires to defer the installation of Historic Depiction Program (HDP) Improvements required by City Council Policy and the Planning Commission's adopted conditions of approval and City agrees to such deferment in accordance with the terms contained herein. Ill. EXPIRATION OF AGREEMENT. This agreement shall expire upon the completion of all the project improvements required by Resolution PC No. 10-12-14-04: IV. TERMS. 1. AGREEMENT BINDING ON SUCCESSOR IN INTEREST. This agreement is an Instrument affecting the title to or possession of the real property described in Section 11.1 above. Upon sale or division of the property described in Exhibit 1, the terms of this Agreement shall apply separately to each parcel, and the owner of each parcel shall succeed to the obligations imposed on Developer by this Agreement. 2. IMPROVEMENTS TO BE DEFERED. No later than six (6) months from the date of execution of this agreement, Developer shall secure Cultural Heritage Commission and Planning Commission approval of the Historic Depiction Program (HDP) for the subject project, shall complete installation of the City - approved HDP, and shall secure Development Services Department staff acceptance of the completed HDP as being consistent with City -approved plans. City shall cooperate with Developer to secure timely Commission approval of the Historic Depiction Program (HDP). 3. CASH DEPOS,IT. The Cash Deposit for faithful performance, labor, and materials for improvements submitted by Developer to City In the amount of $10,000 (ten . Agreement for Defenai of Improvements AC 10.18 M-afott Residence Inn Page 4 of 5 thousand dollars and no cents) shall be deemed by City as adequate surety to ensure completion of improvements as specified in this Agreement. Upon the completion of all improvements cited In Section 2 of this agreement by Developer and at Developer's request, City shall process and refund deposited monies provided herein. The refunded amount shall be equal to the original deposit amount. 5. INDEMNIFICATION. Developer agrees to protect, defend and hold harmless City, its elected and appointed officials and employees from any and all claims, liabilities, expenses or damages of any nature, including attorneys' fees, for Injury or death of any person or damage to property or interference with use of property and for errors and omissions committed by Developer arising out of or in connection with the work, operation or activities of Developer, its agents, employees and subcontractors in carrying out its obligations under this Agreement. 6. QUALITY OF WORK. All Improvements as described in the Agreement shall be constructed and installed pursuant to City review and approval. The construction plans and specifications for the improvements shall be prepared in accordance with all applicable federal, state and local laws, ordinances, regulations and other requirements. In addition, the improvements shall be completed In accordance with all maps, plans and specifications on file with City, as well as all applicable federal, state and local laws, ordinances, regulations and other requirements. Developer understands and agrees that all work and improvements done pursuant to this Agreement shall conform to the standards applicable at the time work Is actually commenced. V. DEMAND TO PERFORM. Upon default of any obligation hereunder, and at any time after any such default, City may make written demand upon Developer or its surety, or both, to Immediately remedy Agreement forDeferral of Improvements AC 10-18, 'ManiotfResidence Inn Page 5 of 5 the default or complete the improvements, If the required work is not; substantially commenced within ten (10) days of such demand, or if it is not thereafter diligently pursued. to a completion acceptable to City :within the time frame contained in the demand, City may then complete all remaining work, manage for the completion of all remaining work, and/or conduct such remedial activity as it deems necessary., in .its sole discretion. All such work or remedial activity shall be at the sole and absolute expense and :obligation of Developer and its surety, without the necessity of City ;giving any further notice to Developer orsurety. City's right to take such actions shall in no way be limited by the fact that Developer or its surety may have constructed any portion of the required improvements at the time of City's demand for performance. In the event City elects to complete or contract for completion of the remaining work and improvements, City may require all work by Developer or its surety to cease in order to permit adequate coordination by City. In addition, City may revoke the Certificate of Occupancy and/or' withhold, issuance of any future permits until the default is remedied to the satisfaction of City. THE CITY OF SAN JUAN CAPISTRANO By: Grant Taylor, Development Services Director Olson Real Estate Grou Inc. By: Robert A. Olson Date: b '-/, 12 -- Dater CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 11041 State of California County of�! / A��,, On T". i� rl 2 before me; , Datel Hero tnaort Name— add Title of She officer personally appeared gQi2� . a ta] of s or(s) KRIS TY MUTCH 1641 Commission # 1926075 a W. � Notary Public - California a Orange County 111% Comm. Ex fres A r.6; 2015 who proved to me on the basis of satisfactory evidence to be the person(sk whose name(* is/are subscribed to the Within instrument'`and acknowledged to me that he/sheAhey executed the same in his/her!'tgelr~ authorized capacity(ieo, and that by his./hes#iw signature(a) on the instrument the person(d), or the entity upon behalf of which the person(s) acted, executed the instrument. certify under PENALTY .OF PERJURY' under the laws of the State of California that the foregoing paragraph is, true and correct. WITNESS my hand and official seal. Sionature: Place Nolnry90ol Above turdof Notbry "Ic OPTIONAL Though the information below is not required by law, it may prove aluabie to ersons relying on the document and could prevent fraudulent removal and reattachment of this form to another document Description of Attached Rocument Title or'Type of Document: o,tMa&A .11 P ak22I. Document'Datet Number ofPeges: Signer(s) Other Than Named Above: Capacity(les) Claimed by Signer(s) Signer's; Name: ❑ Corporate.. Officer — Title(s): la Individual _ O Panner — O Limited ❑ General Top of Thumb here 0 Attorney in Fact 11 Trustee L] Guardian or Conservator D Others Signer Is Representing: Signer's Name: U Corporate Officer — Title(s): D Individual 0 Partner — l::"] Limited 1-1 General Top of thtrinb halo ❑ Attorney, in Fact D Trustee' I -I Guardian or Conservator I Other: Signer. Is Representing: 2010Nationnl Nolary Association, NallonelNotamom • 1.000•SiS NOTAnV it•II00.5m-an27S Ilern. 05907 PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT State of California ) County of Orange ) ss. City of San Juan Capistrano ) (Gov't Code 40814 & Civil Code 118 1) On January 24, '2012, before me, Maria Morris. City Clerk, personally appeared Grant Taylor, Development Services Director, who proved to me on the basis of satisfactory evidence to the be person(s) whose name(s) is/are subscribed to the within 'instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/there signature on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY Or PERJURY under the laws of the State of California thatthe foregoing paragraph is true and correct. (SEAL) Capacity Claimed by Signers Development Services Director Title Signer is Representing City of San Juan Capistrano OPTIONAL Description of Attached Document Title or Type of Document Agreement for Deferral of improvements — Architectural Control (AC) 10-18, Marriott Residence Inn; The City of San Juan Capistrano and Olson Real Estate Group, Inc Datc of Document: January 24, 2012 Number of Pages: 7 TOM DALY CLERK -RECORDER • ORANGE COUNTY HALL OF RECORDS AND FINANCE 12 CIVIC CENTER PLAZA, ROOM 101. P.O. BOX 238. SANTA ANA, CALIFORNI Ok?E?'?En ED WW PHONE 834-2E00 FAX 834-2675 V W W W.00RECORDER.CO.COM CITY OF SAN JUAN CAPISTRANO CITY CLERK'S OFFICE 32400 PASEO ADELANTO SAN JUAN CAPISTRANO, CA 92675 Dear Sir/ Madam: 1011 yFEB//��-��jl A 8: 03 SAN y� A"'Pisial;1,'0 When the enclosed original documentation was presented for recording, some information in one or more areas was incomplete or not clear. Because of this, we are unable to record the submitted document(s) as is. We are returning your unrecorded document(s) along with your remittance. Please refer to the item checked below to correct the information needed to record the document(s). ® Other: Please submit recording fees or exempt fee code. If you wish to have the document(s) recorded, you will need to make the changes indicated above and re -submit the document(s) along with the corresponding fee to: Tom Daly Orange County Clerk -Recorder P.O. Box 238 Santa Ana, CA 92702-0238 Thank you for your cooperation and we look forward to serving you. Sincerely, Orange County Clerk -Recorder Department Enclosure Document(s) Returned: Agreement -Olson Real Estate Remittance: Total Amount Returned: none Check Number(s): none 32400 PASEO ADELANTO SAN JUAN CAPISTRANO, CA 92675 (949) 4931171 (949) 4931053 RAX www sanjuancapistrano.org January 24, 2012 Clerk -Recorder's Office County of Orange P.O. Box 238 Santa Ana, California 92701 MEMBERS OF THE CITY COUNCIL SAM ALLEVATO LAURAFREESE LARRYKRAMER DEREK REEVE JOHN TAYLOR Re: Document for Recording — Agreement for Deferral of Improvements (Marriott Residence Inns) The noted documents are enclosed for recording: • Agreement for Deferral of Improvements (Marriott Residence Inns) When placed of record, please return the recorded documents to this office. Thank you for your assistance. Kindest Regar , Christy Jakl Deputy City Clerk San Juan Capistrano: Nave,'ving the Past to Enhance the Future Cep Printed an 100% racycled papa RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: CITY OF SAN JUAN CAPISTRANO 32400 Paseo Adelanto San Juan Capistrano, CA 92675 ATTN: Grant Taylor, Director Development Services Department SPACE ABOVE THIS tdl+lE FOR RgCOROEW$ USE AGREEMENT FOR DEFERRAL OF IMPROVEMENTS Architectural Control (AC) 10-18, Marriott Residence Inn between THE CITY OF SAN JUAN CAPISTRANO, a Callfomla municipal corporation and Olson Real Estate Group, Inc. Agreement for Deferral of Improvements AC 10-18, Marriott Residence Inn Paae 2 of 5 I. PARTIES AND DATE. This Agreement for the Deferral of Improvements ("Agreement") is entered into on this day of 2012, by and between the City of San Juan Capistrano, a California mu cipal corporation ("City") and, Olson Real Estate Group, Incorporated with its principal office located at 2955 Main Street, Third Floor; Irvine, California ,92614. 11. RECITALS. A. On December 14, 2010, the Planning Commission of the City of San Juan Capistrano adopted PC Resolution No. 10-12-14-04 approving Architectural Control (AC) 10-18. This project approval became effective on December 29, 2010 and includes the property located at 33711 Camino Capistrano on a 4.5 acre parcel more precisely referred to as Assessor Parcel Number (APN) 121- 254-44. B. The application has been approved for construction of a 130 -room Marriott Residence Inn, extended -stay hotel totaling 91,489 square feet of building area. The proposed hotel would be three -stories with the main roof elements extending to a maximum height of thirty-seven feet, six inches (37'-6" ), and with non - habitable, architectural elements extending to a maximum height of fifty feet (50'- 0"). The proposed project includes a minor exception to reduce the hotel parking standard'from the. City's minimum standard of 1.0 space per guest room to 0,94 space guest room. C. Developer has constructed certain improvements on the Project Site in accordance with the approval granted by PC Resolution No. 10-12-14-04. D. Developer desires to obtain a Certificate of Occupancy (C of O) for the Project Site in order to allow utility connections and occupancy of the building. Agreement for Deferral of improvements AC 10.18, Manion Residence !nn page 3 of 5 E. Developer desires to defer the installation of Historic Depiction Program (HDP) Improvements required by City Council Policy and the Planning Commission's adopted conditions of approval and City agrees to such deferment in accordance with the terms contained herein. III. EXPIRATION OF AGREEMENT. This agreement shall expire upon the completion of all the project improvements required by Resolution PC No. 10-12-14-04: IV. TERMS. 1. AGREEMENT BINDING ON SUCCESSOR IN INTEREST. This agreement is an Instrument affecting the title to or possession of the real property described in Section 11.1 above. Upon sale or division of the property described in Exhibit 1, the terns of this Agreement shall apply separately to each parcel, and the owner of each parcel shall succeed to the obligations Imposed on Developer by this Agreement. 2. IMPROVEMENTS TO BE DEFERED. No later than six (6) months from the date of execution of this agreement, Developer shall secure Cultural Heritage Commission and Planning Commission approval of the Historic Depiction Program (HDP) for the subject project, shall complete installation of the City - approved HDP, and shall secure Development Services Department staff acceptance of the completed HDP as being consistent with City -approved plans. City shall cooperate with Developer to secure timely Commission approval of the Historic Depiction Program (HDP). 3. BASH DELOSIT. The Cash Deposit for faithful performance, labor, and materials for improvements submitted by Developer to City in the amount of $10,000 (ten Agreement for Deferral of Improvements AC 10.18. Mardaft Residence inn Page 4 of 5 thousand dollars and no cents) shall be deemed by City as adequate surety to ensure completion of improvements as specified In this Agreement. Upon the completion of all improvements cited in Section 2 of this agreement by Developer and at Developer's request, City shall process and refund deposited monies provided herein. The refunded amount shall be equal to the original deposit amount. 5. INDEMNIFICATION. Developer agrees to protect, defend and hold harmless City, its elected and appointed officlals and employees from any and all claims, liabilities, expenses or damages of any nature, Including attomeys' fees, for injury or death of any person or damage to property or interference with use of property and for errors and omissions committed by Developer arising out of or in connection with the work, operation or activitles of Developer, its agents, employees and subcontractors in carrying out its obligations under this Agreement. 6. QUALITY OF WORK, All Improvements as described In the Agreement shall be constructed and installed pursuant to City review and approval. The construction plans and specifications for the improvements shall be prepared In accordance with all applicable federal, state and local laws, ordinances, regulations and other requirements. In addition, the Improvements shall be completed in accordance with all maps, plans and specifications on file with City, as well as all applicable federal, state and local laws, ordinances, regulations and other requirements. Developer understands and agrees that all work and improvements done pursuant to this Agreement shall conform to the standards applicable at the time work is actually commenced. V. DEMAND TO PERFORM. Upon default of any obligation hereunder, and at any time after any such default, City may make written demand upon Developer or its surety, or both, to immediately remedy ferral of lmproveMenfs the default or complete the improvements. If the. required work is not substantially commenced within ten (10) 'days of such demand, or if it is not thereafter diligently pursued to a completion acceptable to "City within the time frame contained in the demand, City may then complete all remaining work, manage for the completion of all remaining, work,;and/or conduct such remedial activity as it deems necessary,: in its sole discretion. All such work or remedial activity shall be at the sole and absolute expense and obligation, of Developer and its surety, without the "necessity of City giving any further notice to Developer or surety. City's eight to take such actions shall in noway be limited by the fact that Developer or its surety. may have constructed any portion of the required improvements at the time of City's demand for performance. In the event City elects to complete or contract for completion of the remaining work and ,imotb ements, City may require all'work by Developer`orits surety to cease in order to permit adequate coordination by City. In.addition, City may revoke the Certificate W Occupancy and/or withhold issuance of any future permits until the default is remedied to the satisfaction of city. THE CITY OFSAN JUAN CAPISTRANO By, Grant Taylor, Development Services. Director Olson Real Estate;,Group Inc. By: Robert A. Olson Date.1 kv/-/L Date: CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of 6;/ j"4- A If g.., i On 'r-7". 14, Qj!�� before me, j���, A Dato Hero [AsanN— aid We o1 the _01h6er / personally appeared KRISTY MUTCH Commission 0 1928075 a Notary Public - California q Orange County MZ Comm. Expires Apr 6.2015 CIVIL CODE § I M who proved to me on the basis of satisfactory evidence to be the person(sk whose name(4 is/are subscribed to the within Instrument and acknowledged to me that he/sheAWy executed the same in his/beMhei, authorized capacity(les), and that by hist' signature(a) on the instrument the person(d), or the entity upon behalf of whichthe person(4 acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. C Sianature: Ptaeo Kelary Seal Above lurrral aoaty K to OPTIONAL Though the Information below Is not required bylaw, If tnayprove Valluable.10 , ersons rolying on the document and could prevent frnudulent'removat and reattachment of this form to anothor document: Description of Attached R9curnent Title or Type of Document: T Document Date: Number of Pages: Signer(s) Other Than Named Above: _ Capacity(les) Claimed by Signer(s) Signer's Name: Signer's Name: 0 Corporate Officer — Title(s): U Corporate Officer — Title(s): ID Individual • Partner — ❑ Limited I-IGeneral Ta, lrxartb rlaro ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: U Individual ! =1 Partner — ❑ Limited 1] General TQp or Irwm b Irmo ❑ Attorney in Fact ❑ Trustee U Guardian or Conservator ❑ Other: Signer Is Representing: &i RA10 Nallonnt NolnryAseoclntton - NnllnnalNolary.ora - l -EMUS NOTAnY (1 •a0thtl7lF0ox7) 11arn 115007 PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT State of California ) County of Orange ) ss. City of San Juan Capistrano ) (Gov't Code 40814 & Civil Code 118 1) On January 24, 2012, before me, Maria Morris, City Clerk, personally appeared Grant Taylor, Development Services Director, who proved to me on the basis of satisfactory evidence to the be person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/there signature on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. (SEAL) WITNTSS hh d ,and official seal. � Maria 11IIo" s, Ci jerk / Capacity Claimed by Signers Development Services Director Title Signer is Representing City of San Juan Capistrano OPTIONAL Description of Attached Document Title or Type of Document Agreement for Deferral of Improvements — Architectural Control (AC) 10-18•, Marriott Residence inn; The City of San Juan Capistrano and Olson Real Estate Group, Inc Date of Document: January 24, 2012 Number of Pages: 7