City Council

Item No. 16. 2023-0514 CONSIDER MUTUAL TERMINATION OF REGULATORY AGREEMENT AND DECLARATION OF COVENANTS AND RESTRICTIONS; RELEASE OF ALL REFERENCES TO SETTLEMENT, RELEASE AND INDEMNITY AGREEMENT; MUTUAL TERMINATION OF DECLARATION OF COVENANTS, CONDITIONS & RESTRICTIONS AND GRANT OF EASEMENTS; AND TERMINATION OF DEVELOPMENT AGREEMENT RELATED TO AND AS SUCCESSOR IN INTEREST TO PRIOR TRANSACTIONS MADE BY CARSON MARKETPLACE, LLC BY AND BETWEEN CM AND THE CITY OF CARSON Recommendation: 1. APPROVE the Release of Regulatory Agreement and Declaration of Covenants and Restrictions dated September 29, 2006, which was recorded on November 28, 2006 as Instrument No. 2006-2621524 and modified by Instrument No. 20150585320 in the Official Records of Los Angeles County. 2. APPROVE the Release of All References to the Settlement, Release, and Indemnity Agreement in the form of the Grant Deed. 3. APPROVE the Mutual Termination of Declaration of CC&Rs and Grant of Easements set forth in that certain Declaration of Covenants, Conditions and Restrictions and Grant of Easements dated December 13, 2013 which was recorded on January 3, 2014 as Instrument No. 20140004197 in the Official Records of Los Angeles County. 4. APPROVE the termination of the Development Agreement dated March 21, 2006 which was recorded on October 3, 2006 as Instrument No. 20062201898 in the Official Records of Los Angeles County as amended by: (i) the First Amendment recorded on November 14, 2012 as Instrument No. 20121727624; (ii) the Second Amendment recorded on September 4, 2014 as Instrument No. 20140920683; and (iii) Partial Assignment and Assumption Agreement recorded on May 20, 2015 as Instrument No. 20150585319 (collectively, the "Development Agreement"). 5. AUTHORIZE the Mayor to execute all documents related to these terminations and direct Staff to cause the recordation. 6. AUTHORIZE the City Manager to send letters to Fidelity Title to request the removal of certain exceptions to the title on the property related to the Community Facilities District 95-1 and the effectiveness of the former Redevelopment Plan. 1. Attachments: Mutual Termination of Regulatory Agreement and Declaration of Covenants and Restrictions Release of Deed References to Settlement Agreement Mutual Termination of Declaration of Covenants, Conditions & Restrictions and Grant of Easements Termination of Development Agreement Letter to Fidelity - Removing Title Exceptions Related to CFD 95-1 Letter to Fidelity - Removing Title Exceptions Related to the Redevelopment Agency