HomeMy WebLinkAboutCovenant to InstallDOC #2018045301 Page 3 of 13
the City for the Prado Road right-of-way needed to accommodate the Prado Interchange ("Prado
ROW") consistent with the setback areas shown on project site plan depicted in Attachme 4 to
the ARC Agenda Report dated January 21, 2015.
5. Offer of Dedication for Prado Bus Stop. CAPSLO hereby covenants with i
submit an approved signed irrevocable offer of dedication in a form approved by t e-Ci for any
additional right-of-way needed to construct a permanent City standard bus s o aldn rado
Road if needed in the future. CAPSLO will not be responsible for construe in the b stop
unless triggered by a future development permit for 40 Prado.
6. City Acceptance of Offers of Dedication. The offers of dedic i n for 1 s R and
Prado ROW(collectively "Prado/Elks ROW") will be recorded-' ffice f the County
Recorder of San Luis Obispo County and may be accepted y the Ci _y/ time without
further action by CAPSLO. If it is determined at a later da a that some all of the Prado/Elks
ROW is not needed as public right-of-way and that the exce s ight-of-wa as a negative impact
on CAPSLO's ability to use or develop 40 Prado, then i agrees process a summary
vacation of any excess rights -of --way at no cost to CAPSLO.
7. Covenant to Install Prado Frontage Im rove eeb s. CAPSLO hereby covenants with the
City to install the Prado Road Frontage Improvements�it(out cost to the City, upon six (6)
months written notice from the City requesting t i _saidjrnprovements be installed. The written
notice may be given by the City at any time at i s Sol Ztloyfid discretion: However, the extent
of Prado Frontage Improvements nece��a to the Prado Interchange has not yet
been determined. Until such time as th s imp o eui�ts are determined and become the
responsibility of another party, CAPSL �� 'n responsible for the installation of these
deferred improvements.
V
a. The City ag e�stj(;
r�o� ble effort to construct as much, if not all, of the
Prado Fro dentswith the Prado Interchange project. If the City
constru is s �o��ll ofM Prado Frontage Improvements, CAPSLO agrees to
pay De�elop ent'-s 'r share of the cost to construct the Prado Frontage
g
Improve eft as�equir d in Section 2 of this Agreement.
b. City ay rec�t3i e �APSLO to install the Prado Frontage Improvements prior to
fina eterminMon of the Prado ROW alignment. If that occurs and it is later
dete ne_ jh the Prado Frontage Improvements need to be relocated to
cc rirnodate the Prado Interchange, CAPSLO will not be responsible for
reloe tinsS, the public improvements associated with the Prado Frontage
'�l
mproriients, but will be responsible for relocating any private improvements
t�encroach within the Prado ROW in accordance with Section 10 of this
8Cov�n�nt to Install Elks Lane Improvements. CAPSLO hereby covenants with the City
to lta "' lks Lane Improvements without cost to the City, upon six (6) months written
notice -fro: the City requesting that said improvements be installed. The written notice may be
given by the City at any time at its sole option and discretion.