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Home My WebLink About00409C - BURNETT DEVELOPMENT SUNRISE SAN RAFAEL Burnett Development Exclusive Agr to Negotiate AGREEMENT #409C Amend 2 — R1152, 10-17-7-01 f SECOND AMENDMENT TO EXCLUSIVE AGREEMENT TO NLUU 1 rH rc SECOND THIS-FRSTAMENDMENT TO EXCLUSIVE AGREEMENT TO NEGOTIATE ("Amendment ) is entered into this 5th day of November 2001 (the "Effective Date") by and between the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, a public body, corporate and politic, ("Agency") whose offices are located at P.O. Box 2743, 3200 East Tahquitz Canyon Way, Palm Springs, California 92263 and Burnett Development Corporation whose offices are located at 1300 Bristol Street North, Suite 200, Newport Beach, California 92660 ("Developer"). RECITALS A. On October 18, 2000, the Agency approved that certain Exclusive Agreement to Negotiate ("Original Agreement") with Developer pursuant to which Agency and Developer agreed to work mutually on the development of a single family home development at the northwest corner of Sunrise Way and San Rafael Road in Palm Springs, as more particularly described therein, and which was amended on June 6, 2001 by Amendment No. 1. B. Agency and Developer desire to amend the terms of the Original Agreement and Amendment No. 1 as more particularly described herein. C. Any capitalized terms not defined herein shall have the meanings ascribed to them in the Original Agreement. The Original Agreement, as modified by this Amendment, is hereinafter referred to as the "Agreement." NOW, THEREFORE, the parties hereto agree as follows: } SECTION 2. PERIOD OF NEGOTIATIONS. The period of negotiation shall be one hundred eighty (180) days from the expiration date of the Original Agreement,*and this Agreement shall terminate after the expiration of such period unless extended as follows: as amended June 6, 2001 A. For sixty (60) days if an agreement has been prepared by the Agency and executed by the Developer, and has been submitted to the Agency but has not yet been approved by the Agency Board; or B. For thirty (30) days if the major business terms have been agreed to and the Executive Director determines that further negotiations are likely to result in a written agreement; or C. By mutual agreement of the parties. Developer understands and acknowledges that if negotiations culminate in an agreement, such agreement shall be effective only after and if the agreement has been considered and approved by the Agency Board after public hearing thereon as required by law. 0 IN WITNESS WHEREOF the Agency and Participant have executed this Agreement as of the date first written above. "AGENCY" ATTEST: COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, a public body, corporate and politic® Ass istan cre ary xecu irector APPROVED AS TO FORM: BURKE, WILLIAMS & SORENSEN, LLP By: v Agency nsel "DE L ER" liver B. Cagle BURNETT DEVELOPMENT CORPORATION C 1 "u'B°Il'i'; l:C L'a LluLiL" Lo �L�. Ya, 12,y Gas Burnett Development Corp " Exclusive Agr to Negotiate AGREEMENT #409C AMEND 1 R1127, 6-6-01 FIRST AMENDMENT TO EXCLUSIVE AGREEMENT TO NFGUTIA i t - ---- THIS FIRST AMENDMENT TQ,EXCLUSIV AGREEMENT TO NEGOTIATE ("Amendment') is entered into this day of t 2001 (the "Effective Date") by and between the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, a public body, corporate and politic, ("Agency") whose offices are located at P.O. Box 2743, 3200 East Tahquitz Canyon Way, Palm Springs, California 92263 and Burnett Development Corporation whose offices are located at 1300 Bristol Street North, Suite 200, Newport Beach, California 92660 ("Developer"). RECITALS A. On October 18, 2000, the Agency approved that certain Exclusive Agreement to Negotiate ("Original Agreement') with Developer pursuant to which Agency and Developer agreed to work mutually on the development of a single family home development at the northwest corner of Sunrise Way and San Rafael Road in Palm Springs, as more particularly described therein. B. Agency and Developer desire to amend the terms of the Original Agreement as more particularly described herein. C. Any capitalized terms not defined herein shall have the meanings ascribed to them in the Original Agreement. The Original Agreement, as modified by this Amendment, is hereinafter referred to as the "Agreement." NOW, THEREFORE, the parties hereto agree as follows: SECTION 2. PERIOD OF NEGOTIATIONS. The period of negotiation shall be three sixty (360) days from the date the Original Agreement was signed by the Agency, and this Agreement shall terminate after the expiration of such period unless extended as follows: A. For sixty (60) days if an agreement has been prepared by the Agency and executed by the Developer, and has been submitted to the Agency but has not yet been approved by the Agency Board; or B. For thirty (30) days if the major business terms have been agreed to and the Executive Director determines that further negotiations are likely to result in a written agreement; or C. By mutual agreement of the parties. Developer understands and acknowledges that if negotiations culminate in an agreement, such agreement shall be effective only after and if the agreement has been considered and approved by the Agency Board after public hearing thereon as required by law. IN WITNESS WHEREOF the Agency and Participant have executed this Agreement as of the date first written above. "AGENCY" ATTEST: COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, a public body, corporate and politic LL4L By:Assistatary Executive Director APPROVED AS TO FORM: BURKE,,�WILLIAMS & SORENSEN, LLP By: ' A m9 Agency unsel "DEVELOPER" BURNETT DEVELOPMENT CORPORATION A California corporation ,J I?IcrCo):"LP3 LV u'LJG l l d6U�lt)C Itll"( I, h �V PALM F S City of Palm Springs Office of the City Clerk y3 * hrn� ORgTEO q 3200 Taloyn=Canyon Way • Palm Springs,California 92262 TEL:(760)323-8204 • TDD (760)864-9527 July 18, 2001 Burnett Development Corp. 1300 Bristol St. North, Suite 200 - Newport Beach, CA 92660 RE: Amendment No. 1 to Agreement#409C Dear Mr. Burnett: Enclosed please find one copy of the fully executed Amendment#1 to A409C, Exclusive Agreement to Negotiate, between Burnett Development Corp. and the Community Redevelopment Agency of the City of Palm Springs, approved by the Community Redevelopment Agency on June 6, 2001, by Resolution No. 1127. Should you have any questions, please do not hesitate to contact me at (760) 323-8206. Sincerely, i8a', Barbara J. White Assistant City Clerk Enclosure cc: CRA-John Raymond w/agreement Finance w/agreement File Post Office Box 2743 0 Palm Springs, California 92263-2743 Burnett Development Corp Exclusive Agr to Negotiate AGREaE.NT #409C R1112, 10-18-00 EXCLUSIVE AGREEMENT TO NEGOTIATE - - — - — - BURNETT DEVELOPMENT CORPORATION THIS�EXCLUSIVE AGREEMENT TO NEGOTIATE ("AGREEMENT") , is made this� day of D , 2000, by and between the PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY ("AGENCY"), and BURNETT DEVELOPMENT CORPORATION ("DEVELOPER"). RECITALS The parties entered into this Agreement on the basis of the following facts,understandings,and intentions: A. The Agency is a public body,corporate and politic, exercising governmental functions and powers and organized and existing under the Community Redevelopment Law of the State of California (Health and Safety Code Sections 33000, et seq.). B. TheAgencydesirestoeffectuatethe Redevelopment PlanforthePalmSpringsMerged Redevelopment Project Area No. 2 (formerly, Project Area#9C) by providing for the development of no fewer than 400 single family homes in the area east and west of Sunrise Way north of San Rafael Road ("the Site"). C. The Developer desires to construct market rate,single-family housing at the Site. The term"Developer"as used herein includes the principals, partners,and joint venturers of Developer and all obligations of Developer herein shall be the joint and several obligations of such principals,partners, and joint venturers. D. The Agency and Developer desire,forthe period setforth herein,to negotiate diligently and in good faith to prepare an agreement whereby the Developerwould develop such single family home development on the site. NOW,THEREFORE,and in consideration of the mutual covenants hereinafter contained,it is mutually agreed upon by the parties as follows: SECTION 1. NATURE OF NEGOTIATIONS. A. Good Faith. The Agency and the Developer agree that for the period set forth in Section 2 herein they will negotiate diligently and in good faith to prepare and enter into an agreement (the"DDA")consistentwith the provisions of this Agreementforthe development of single family homes on the Site specified herein. The development will be subject to all rules, regulations, standards, and criteria set forth in the Redevelopment Plan, the City's General Plan, applicable specific plans and zoning regulations, and with this Agreement. B. Site. The Project shall be located upon the following real property,as shown in the"Site Map," attached hereto as Exhibit"A" and incorporated herein by this reference. C. Construction and Ownership Concept. The Developer's interest shall be fee. The design shall be consistent with the Agency's and the City's design guidelines. Developer's architect shall work with the City's design guidelines to create a harmonious and attractive single family home development with a distinct identity. The Developer is responsible for financing and constructing all improvements upon the Site. The single family home development shall consist of up to 400 homes, consistent with the City's General Plan and Zoning Code. The homes shall be designed to be priced between$100,000 and$350,000 and shall be in lots averaging approximately 7,000 s.f.in area. The Site will be subject to a declaration of covenants, conditions, and restrictions to govern the development and ownership of the development. D. Financial Provisions. The Developer is responsible for acquisition of the site and financing and constructing all improvements upon the Site. Developer shall pay for all necessary public improvements and pay all City's fees for processing the Project,without assistance from the Agency. E. Schedule. The Developers goal is to develop the single family homes by December 31,2003. The DDA shall contain a Schedule of Performance. Due to the need to possibly acquire at least one small parcel through condemnation, such parcel may be delivered in a later phase. F. Use and Transfer Restrictions. The DDA will generally be subject to restrictions on use and transfer during construction and for a specified period thereafter through recorded restrictions (i) to assure that the use will be consistent with and promote reasonable quality single-family home development,(ii)to prevent speculation,(iii)to assure that any transferee has the resources,capability and experience to successfully complete construction of the development, (iv) to assure long-term maintenance of the homes in a productive and attractive condition, and (iv)to provide an adequate financial return to the Agency. G. Property Acquisition. The Developer has proposed acquiring a 22.21 acre City-owned parcel, as well as a 19.17 acre Agency-owned parcel. The Agency completed an MAI appraisal in June, 2000,which offers a per-square-foot value on the two parcels. Negotiations between the City, Agency, and Developer has proceeded based on those appraisals. The Developer has offered $465,000 forthe City-owned parcel,consistentwith the appraisal,and$545,000 forthe Agency-owned parcel, which is $165,000 above the appraised value. The parcels would be conveyed to the Developerthrough a Disposition and DevelopmentAgreement between the Agency and the Developer. Most of the rest of the project site is owned in fee by the Developer; however, the assembly of the entire site may also involve an involuntary acquisition of property. To the extent provided by law,the DDA will contain provisions that the Agency will considerthe use of its powerof eminent domain forsite assemblage should voluntary negotiations be unsuccessful but Agency shall have no liability whatsoeverto Developer if Agency should decide not to undertake condemnation. Nothing herein shall be deemed to obligate Agency to undertake such acquisition by condemnation. If the Agency shall undertake such acquisition, Developer shall be solely liable for the cost thereof, including the legal costs, attorney fees, the amount of just compensation, irrespective of the amount, or the award of attorney fees to the defendant, if awarded. Appraisal of Properties. Upon successful negotiation of a Disposition and Development Agreement between Agency and Developer,the property shall be conveyed at the agreed-upon price above(fair market value) based on an MAI appraisal submitted to the City Engineer and the Agency on June 15, 2000. If the DDA is not negotiated during the term of this Agreement,the appraisal shall be updated to determine newvalues forthe property;Agency shall commission the update,which shall be paid from the Good Faith Deposit described in Section 5. H. Exclusivity. The Agency agrees for the period set forth in Section 2 that it will not negotiate with or enter into any agreement with any other entity for development of the Site, and the a • Developer agrees notto negotiate with any otherperson or entity regarding the development of a single family home development within the territorialjurisdiction of Palm Springs without approval of Agency. SECTION 2. PERIOD OF NEGOTIATIONS. The period of negotiation shall be one hundred eighty(180)days from the date this Agreement is signed by the Agency, and this Agreement shall terminate after the expiration of such period unless extended as follows: A. For sixty(60) days if an agreement has been prepared by the Agency and executed by the Developer,and has been submitted to the Agency but has not yet been approved by the Agency Board; or B. Forthirty(30)days if the major business terms have been agreed to and the Executive Director determines that further negotiations are likely to result in a written agreement; or C. By mutual agreement of the parties. Developer understands and acknowledges that if negotiations culminate in an agreement,such agreementshall be effective only after and if the agreement has been considered and approved bythe Agency Board after public hearing thereon as required by law. SECTION 3. DEVELOPER'S RESPONSIBILITIES. During the period of negotiation, Developer will prepare such studies, reports, and analysis as shall be necessary to permit Developer to determine the feasibility of its participation in the single family home development. The Developer shall fully cooperate in the development of the Project design and financing plan. During the period of negotiation and as requested by the Agency, the Developer shall submit to the Agency the following: A. Full disclosure of Developer's principals, partners, joint venturers, negotiators, u consultants, professional employees, or other associates of the Developer who are participants or- principals of the Project, and all other relevant information concerning the above. B. Statement of financial condition in sufficient detail to demonstrate Developers financial capabilities,those of its principals, partners,joint venturers,and those of its prospective Developers to satisfy the commitments necessitated by the Project. To the extent Developer wants such financial statements to remain confidential,they shall be supplied to the Agency only if the confidentiality of the statements can be maintained. C. All information necessary forthe design of the Project to meetthe Agency's reasonable requirements. In addition, Developer shall take all actions necessary to obtain construction and permanent financing. This information shall be sufficient to allow the Agency to evaluate site configuration, architectural design, housing quality and similar issues. The Developer shall negotiate exclusivelywith the Agency's negotiating team and with no other persons unless expressly authorized to do so by the Agency's negotiating team. During the period of negotiations, no statements will be made by the Developer to the media without the approval of the Agency's negotiating team. No prepared statements shall be released to the media without the mutual consent of the respective negotiating teams. SECTION 4. AGENCY'S RESPONSIBILITIES. A. Preparation of Agreement. If agreement is reached on the business terms for inclusion in the agreement, the Agency shall prepare such agreement for consideration by the Developer. Agency's expenses, including legal expenses for preparation of the Agreement, shall be chargeable against the Good Faith Deposit. B. Zoning. The Agency will undertake all acts necessary to rezone such portions of the property as may be necessary to permit the single family homes on the Site. SECTION 5. GOOD FAITH DEPOSIT. Concurrently with the execution of this Agreement,Developershall submit to the Agency a good faith deposit in the sum of Fifteen Thousand Dollars ($15,000.00) in the form of a cash deposit, cashiers'check, irrevocable letterof credit,orotherform of security acceptable to the Agency to insure that the Developer will proceed diligently and in good faith to negotiate and perform all of the Developer's obligations under this Agreement. If the deposit is in cash or a certified cashiers' check, it shall be deposited in an interest-bearing account of the City. Interest, if any, shall be added to the deposit and held as additional security for the Developer's obligations hereunder. Upon termination of this Agreementthe balance,less charges deducted from the deposit pursuant to section 4(A),shall be returned to the Developer provided that the Developer has negotiated diligently and in good faith and carried out its obligations hereunder. If Developer has failed to do so, in as much as the actual damages which would result from a breach by Developer of its obligations under this Agreement are uncertain and would be impractical or extremely difficult to determine,Agency shall be entitled to retain the entire amount of said deposit, as liquidated and agreed damages. It is further understood that the DDA will require an increase in the good faith upon execution of the DDA. The aggregate good faith deposit then required shall be at least Fifty Thousand Dollars ($50,000.00). SECTION 6. MISCELLANEOUS. A. No commissions. The Agency shall not be liable for any real estate commission or any broker's fees which may arise herefrom. The Agency represents that it has engaged no broker,agent, or finder in connection with this transaction, and the Developer agrees to hold the Agency harmless from any claim by any broker, agent, or finder retained by the Developer. B. Ownership of Documents. If the negotiations contemplated by this Agreement do not result in the execution of an agreement, Developer shall transfer to Agency copies of any reports, studies, analysis,site plan layouts,development cost estimates, engineering studies, memorandums, or similar documents regarding the proposed development and prepared during the period of negotiations,which copies shall become the property of Agency. Such transfer shall be made without any representation or warranty by the Developer as to the accuracy or sufficiency of the contents of such documents and shall be made subject to the rights of the preparers of such documents including, without limitation, the copyright(if any) associated with such documents. C. Purpose of Contract. It is expressly understood and agreed by the parties hereto that this is an Agreement regarding the conduct of contract negotiations only and does not convey any interest in the property whatsoever. it is further agreed and understood that this Agreement does not imply any obligation on the part of the Agency to enter into any agreement that may result in negotiations contemplated herein. D. Amendment. This Agreement may only be amended by a document in writing signed by the parties hereto. E. Time for Acceptance. This Agreement,when executed by the Developer and delivered to the Agency,shall constitute a binding offer which cannot be withdrawn prior to September30,2000, so that the Agreement may be presented to the Agency Board. Notwithstanding any other provision herein to the contrary, Agency shall not be obligated hereunder unless and until the Agency Board authorizes the Chairman to execute this Agreement. F. Corporate Authority. The persons executing this Agreement on behalf of the parties hereto warrant that(i)such party is duly organized and existing, (ii)they are duly authorized to execute and deliver this Agreement on behalf of said party, (iii) by so executing this Agreement, such party is formally bound to the provisions of this Agreement, and (iv)the entering into this Agreement does not violate any provision of any other Agreement to which said party is bound. IN WITNESS WHEREOF,the parties have executed this Agreement as of the day first above written. "AGENCY" COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a public body, corporate and politic Chairman mST: c :�2� Agency Secretary APPROVED AS TO FORM: 1-JT,'R C,*@"EN.-) LY `li C J 26uutv`d�1L'J�u d t �G'i ks'" AGENCY ff VIM L620e e l — 0,7/F—O�) Ager'Counsel [SIGNATURES CONTINUED ON NEXT PAGE] "DEVELOPER" BURNETT DEVELOPMENT CORPORATION (Check One: _individual, _partnership, 'corporabon) [NOTARIZED] (�,� � Signature Print Name: � . 15o"ZlOr— f Pn itle: Chief Executive Officer 7 [NOTARIZED] ✓'`eve l� �'' ' Signature Print Name: DL(�I;' Le= J'7, c%,y;�c_ Print Title: President Mailing Address: d30(D FtSa�C aCi. 1`dnl' fJ -rF �f o JEylFM-Ij- Q(4 (Corporations require two signatures; one from each of the following: (A) Chairman of Board, President,any Vice President;AND(B)Secretary,Assistant Secretary,Treasurer,Assistant Treasurer, or Chief Financial Officer.) [END OF SIGNATURES I NOTARY JURAT(S) FOLLOW] STATE OF CALIFORNIA ) ) ss. COUNTY OF ORANGE ON Oct. 25 , 2000 before me, Linda M. Williams Notary Public, personally appeared C. L. Burnett and Oliver B. Cagle personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is(are subscribed to the within instrument and acknowledged to me that hsdske/they executed the same in Ns/taar/theirauthorized capacity(ies),and that by hisAMr/their signature(s)on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Witness my hand and official seal. [SEAL i1NDA K YAULAW Commission 81199175 Q?MyCornrn.WrmOct2Z2M2t Notary PubUc-Carlforrin Orange County Ir fdry dad �/ � � Signature _ ' STATE OF CALIFORNIA ) ) ss. COUNTY OF ) ON before me, Notary Public, personally appeared personally known to me (or proved to me on the basis of satisfactory evidence)to be the 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(ies),and that by his/her/theirsignature(s)on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. Witness my hand and official seal. [SEAL) Signature EXHIBIT"A" TO EXCLUSIVE AGREEMENT TO NEGOTIATE LEGAL DESCRIPTION OF THE PROPERTY PARCELO THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 36, TOWNSHIP 3 SOUTH, RANGE 4 EAST, SAN BERNARDINO BASE AND MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF, DESCRIBED AS FOLLOWS: COMMENCING AT A POINT ON THE SOUTH LINE OF SAID SECTION 36,THAT BEARS SOUTH 89° 55' EAST, A DISTANCE OF 544 FEET FROM THE SOUTHWEST CORNER THEREOF; THENCE NORTH 00°6' 05" EAST,AND PARALLEL TO THE WEST LINE OF SAID SECTION 36, A DISTANCE OF 160 FEET; THENCE NORTH 89' 55'WEST AND PARALLEL TO SAID SOUTH LINE, 120 FEET,TO THE TRUE POINT OF BEGINNING; THENCE NORTH 00°05'EAST 50 FEET; THENCE ALONG A CURVE TO THE LEFT HAVING A CENTRAL ANGLE OF 47°33'AND A RADIUS OF 50 FEET AND ARC LENGTH OF 41.50 FEET; THENCE 42° 22' EAST, 24.35 FEET; THENCE NORTH 89°55'WEST AND PARALLEL TO SAID SOUTH LINE 434 FEET MORE OR LESS TO THE WEST LINE OF SAID SECTION;THENCE SOUTH00°605 WEST,ALONG SAID WEST LINE105 FEET; THENCE SOUTH 89' 55' EAST AND PARALLEL TO SAID LINE 434 FEET TO THE TRUE POINT OF BEGINNING; EXCEPTING THEREFROM THE WEST 40 FEET AS CONVEYED TO THE CITY OF PALM SPRINGS,CALIFORNIA MUNICIPALCORPORATION,BY DOCUMENT RECORDED OCTOBER 10, 1968 AS INSTRUMENT NO. 97820 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. PARCEL Q LOTS 9 AND C,OF TRACT NO. 17642-1,AS SHOWN BY MAP ON FILE IN BOOK 122 PAGE(S)88, 89 AND 90 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; EXCEPTING THEREFROM THAT PORTION THEREOF LYING WITHIN TRACT NO. 26943-1, AS SHOWN BY MAP ON FILE IN BOOK 235 PAGE(S)84 AND 85 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; ALSO EXCEPTING THEREFROM THE EASTERLY 920 FEET OF LOT C; ALSO EXCEPTING FROM LOT C THAT PORTION THEREOF CONVEYED TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA,A PUBLIC BODY, CORPORATE AND POLITIC,BY DEED RECORDEDAPRIL25,1996AS INSTRUMENT NO. 148930 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. PARCEL R LOT 1,OF TRACT NO. 17642-1,AS SHOWN BY MAP ON FILE IN BOOK 122 PAGES)88, 89 AND 90 OF MAPS. RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. TOGETHER WITH THAT PORTION OF LOT C OF TRACT NO. 17642-1, AS SHOWN BY MAP ON FILE IN BOOK 122 PAGES) 88, 89 AND 90 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOT C; THENCE NORTHERLY ALONG THE WEST LINE OF SAID LOT C NORTH 00' 15' 14" EAST 1,467.00 FEET; THENCE SOUTH 89°46' 28 EAST 50 FEET TO THE NORTHWEST CORNER OF LOT 1 OF SAID TRACT NO. 17642-1; THENCE SOUTHERLY ALONG THE LINE BETWEEN SAID LOT C AND LOT 1 OF TRACT NO. 17642-1;SOUTH 00° 15' 14"WEST 1467.00 FEET TO THE SOUTHWEST CORNER OF SAID LOT 1,SAIDCORNER BEING ALSO THE SOUTHEAST CORNER OF SAID LOTC;THENCE WESTERLY ALONG THE SOUTH LINE OF SAID LOT C NORTH 89°46'28"WEST 50 FEET TO THE POINT OF BEGINNING. EXHIBIT"B" TO EXCLUSIVE AGREEMENT TO NEGOTIATE MAPS OF THE PROPERTY APW 40F3 -0f1 FD. 3/4- I.P. OPEN VACANT N';, N 89-52.35-W 2052.00 aNl EXIST. OWA WELL SITES 398 N 89'52'35W 1112.00 N 895235Nf 970,00 TN LOT9.84 0009'D7'EPARCEL QQ^nPORTION LOT 9 @ APR�OFiOo-o26 1 QV` TR. 17642-1 �Q MB. 122/88-90 31 PARCEL Q �F 2 24' c ; -I =C I VACANT — _ LET-2 II - - N ST52'35'W 1182.99 I I COYOTE SPRINGS ' I' L_ APARTMENTS PARCEL R NOT A PART D. NAL @ N Gr NORTH HALF VACANT j!. DIRT ROADS/-,=:�- TRAILS LOT 1 -1 TR. 26943-1 I I•I, - I �l MB. 235/84-85 I q I CF:t AN""OO-On ZONE Ciz I S o f0 •o EXIST. MOBILE jHOME PARK n II RS 65/33 g I I S II I n PARCEL R APM"9400-001 I i 0 I I I1 70 bMry I I �� 4362- I I LOT 1I I TR. 17642-1MB. 122/88-90I I I I 1 I I I N 00'09'07E 14' 747N 89'52'35W O]S� " 1152.00 FD NNL $ TIN N 69052'35'W 2150.93 . - 2 0 EXHIBIT"B" TO EXCLUSIVE AGREEMENT TO NEGOTIATE MAPS OF THE PROPERTY iLlii eewsTo-Dn +'92,r"__o,� ``\ PARCEL P °sT yqy \ APx w9+4�o�001 I, 13 a 10 N 3T33'2TE RCFC MOt�.\ REMNA 44' N 10'S9'41'E 0.64 �N 11'45'52'L� _ 0.53 FD 1 1/4- BE 0.31 j6,7535 FD 1 1/4-I.P. IS 2344 -. 1- FD,1'I.P. LS 2344` N 13'58'38'E 0.52yk0'Oq N 89'5205 \ FO 1 1/4'LS 2344 0fs33q / 502.98 ¢Iwus¢my 4 I � 5, N 54W9'11'E 1 FD 3/4'I.P. RCFC`WCD 2,77.a5PARCE7LE 1\ RCFC M0' N 89'41': 9 titi �� s P B 26 I `� \ rF °o 2 2 'd I \`� \`♦ P`l 16 N,I,Q C. KQa^ 9u i PARCEL D �5 ytil - FD z'W/B�KEN TOP O 4 . G m APN 0MTO-013 q 17 RCFC MON. A4 \\ \\ i I 3185 N Sao n$ m TSOp'1y'E D FD-2X21'f/i,1CN $s i>• \�\ \\ FD 1 3/4'I.P�,�CE �B21 FD i 1/27.P. RCE 8821 NOT A PART ,y 6, \ \�\ EXIST, GOLF COURSE ?y�p � �` SV FD 1 #4t[.P. PE 86 PARCEI ESfAB BY PRORATE ��5, " -�"i ARM 669- APN wa=wD ow VACNfI aL Ii 11 1 FD 19.P. LS 2344 �.,_. FD 19.P. LS 2344—FD 344 n 1 V FD 19.P.IS 2344 PARR n CL .:_-j- T S cl JJ PARCEL Dwov a ]c�=c,.� , . �7 APN w�-4 - �,� .::_ ,. _ _=_= — NO 1'I.P. LS 2344 F -f k N OT59'11'E 100.6 PAR.' .-1 _ FD 1'I.P. is 2344 7 35.00 'ItCE -._. N 89'5236.,- 1504.59 . , P .E! O , 7..: :I . . .- EXIST. GOLF COURSE . _5 FI PAR' N NOT A PART APH wW✓f0 U SPQR. 1 PJR PART y//i ANNF4�Od07 N 1 -I I-I C-I{I _ TQWNSWP _ 53.9�, LI =-P 1 LJ Q 52�J 21� . 1-1/41P IN'MON.WELL 'LS 3561 SINGLE FAMILY RESIDENTIAL 1