City Council

Item No. 16. 2023-0514 CONSIDER MUTUAL TERMINATION OF\nREGULATORY AGREEMENT AND DECLARATION OF\nCOVENANTS AND RESTRICTIONS; RELEASE OF\nALL REFERENCES TO SETTLEMENT, RELEASE AND\nINDEMNITY AGREEMENT; MUTUAL TERMINATION\nOF DECLARATION OF COVENANTS, CONDITIONS &\nRESTRICTIONS AND GRANT OF EASEMENTS; AND\nTERMINATION OF DEVELOPMENT AGREEMENT\nRELATED TO AND AS SUCCESSOR IN INTEREST TO\nPRIOR TRANSACTIONS MADE BY CARSON\nMARKETPLACE, LLC BY AND BETWEEN CM AND\nTHE CITY OF CARSON\nRecommendation: 1. APPROVE the Release of Regulatory Agreement and\nDeclaration of Covenants and Restrictions dated September 29,\n2006, which was recorded on November 28, 2006 as Instrument\nNo. 2006-2621524 and modified by Instrument No. 20150585320\nin the Official Records of Los Angeles County.\n2. APPROVE the Release of All References to the Settlement,\nRelease, and Indemnity Agreement in the form of the Grant Deed.\n3. APPROVE the Mutual Termination of Declaration of CC&Rs\nand Grant of Easements set forth in that certain Declaration of\nCovenants, Conditions and Restrictions and Grant of Easements\ndated December 13, 2013 which was recorded on January 3,\n2014 as Instrument No. 20140004197 in the Official Records of\nLos Angeles County.\n4. APPROVE the termination of the Development Agreement\ndated March 21, 2006 which was recorded on October 3, 2006 as\nInstrument No. 20062201898 in the Official Records of Los\nAngeles County as amended by: (i) the First Amendment recorded\non November 14, 2012 as Instrument No. 20121727624; (ii) the\nSecond Amendment recorded on September 4, 2014 as\nInstrument No. 20140920683; and (iii) Partial Assignment and\nAssumption Agreement recorded on May 20, 2015 as Instrument\nNo. 20150585319 (collectively, the "Development Agreement").\n5. AUTHORIZE the Mayor to execute all documents related to\nthese terminations and direct Staff to cause the recordation.\n6. AUTHORIZE the City Manager to send letters to Fidelity Title to\nrequest the removal of certain exceptions to the title on the\nproperty related to the Community Facilities District 95-1 and the\neffectiveness of the former Redevelopment Plan.\n1.\nAttachments: Mutual Termination of Regulatory Agreement and Declaration of Covenants and Restrictions\nRelease of Deed References to Settlement Agreement\nMutual Termination of Declaration of Covenants, Conditions & Restrictions and Grant of Easements\nTermination of Development Agreement\nLetter to Fidelity - Removing Title Exceptions Related to CFD 95-1\nLetter to Fidelity - Removing Title Exceptions Related to the Redevelopment Agency