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HomeMy WebLinkAboutR-8747 Acquisition of Bishop Peak from Ray B. BunnellRESOLUTION NO. 8747 (1997 Series) RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS OBISPO APPROVING A CONTINGENT PURCHASE AND SALE AGREEMENT WITH RAY B. BUNNELL FOR THE ACQUISITION OF REAL PROPERTY COMMONLY KNOWN AS BISHOP PEAK WHEREAS, the City of San Luis Obispo ( "Cite is a California Charter Municipal Corporation; and WHEREAS, City, acting through its City Council and through adopted public procedures, has determined that certain lands surrounding the City of San Luis Obispo are important to the scenic character; healthy natural environment, and economic and social well -being of the community and its citizens and has designated these lands as the San Luis Obispo Greenbelt; and WHEREAS, within said Greenbelt, City seeks to preserve and conserve characteristics such as visual quality, wildlife habitat, healthy agricultural economy; and rural setting through a variety of techniques and programs; including purchase of land; and WHEREAS, City, the County of San Luis Obispo, and the State of California all consider the preservation of the chain of peaks an from Morro Bay to San Luis Obispo, commonly • known as the "Morros," to be a high priority for the community and for the people of the State; and WHEREAS, the City of San Luis Obispo, City of Morro Bay and County of San Luis Obispo are cooperating in a special planning project with a citizens' advisory committee (known as the Morros Advisory. Committee) whose goal is to develop a long -term plan for protection and proper stewardship of the Morros; and WHEREAS, Mr. Ray B. Bunnell ( "Seller ") is owner of certain lands which he within said Greenbelt, which are of scenic, ecological_; and agricultural value to the City and County of San Luis Obispo; and WHEREAS, said lands include the summit and upper elevations of the tallest of the Morros, commonly known as Bishop Peak; and WHEREAS, Seller is desirous of preserving such values of said property by the sale of property for permanent open space purposes to the City of San Luis Obispo; and WHEREAS, the purchase of said land in the judgment of City would act to preserve the values indicated above and serve an important municipal purpose. NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Luis Obispo hereby approves the "Contingent Purchase and Sale Agreement with Ray B. Bunnell, covering • all of Seller's rights, title and interest in that certain real property in the County of San Luis Obispo, R -8747 together with all easements, rights and appurtenances thereto (specifically including all water and is mineral rights, and an access easement for maintenance and emergency purposes), as incorporated herein by reference, and subject to the specific contingencies described therein. • BE IT FURTHER RESOLVED, that the Council hereby finds that the purchase of said property is an exempt project under Section 15325 of the California Environmental Quality Act. BE IT FURTHER RESOLVED, that the Council hereby finds that the purchase of said property is consistent with applicable policies of the City's General Plan and Elements thereof. BE IT FURTHER RESOLVED, that the Mayor is authorized and directed to execute said Contingent Purchase and Sale Agreement with Ray B. Bunnell. On motion of Councilmember Roalman , seconded by Councilmember Smith and on the following roll call vote: AYES: Roalman, Romero, Smith, Williams, Mayor.Settle NOES: None ABSENT: None The foregoing resolution_ was adopted this 2 day of December_ _ , 1997. Allen K. Settle, Mayor Cl APPROVED AS TO FORM: END OF DocuMENT 0 E CONTINGENT PURCHASE AND SALE AGREEMENT This CONTINGENT PURCHASE AND SALE AGREEMENT is entered into by and between the CITY OF SAN LUIS OBISPO ( "Buyer "), a California Charter Municipal Corporation, and RAY B. BUNNELL ( "Seller "), pursuant to the following recitals: WHEREAS, Buyer is a California Charter Municipal Corporation, and WHEREAS, Buyer, acting_ through its City Council and through adopted public procedures, has determined that. certain lands surrounding the City of San Luis Obispo are important to the scenic character, healthy natural'envronment, and economic and social well being of the community and its citizens, and has designated these lands as the San Luis Obispo Greenbelt.; and WHEREAS, within said Greenbelt, Buyer seeks to preserve and conserve characteristics such as visual quality, wildlife habitat, healthy agricultural economy, and rural setting through a variety of techniques and programs, including purchase of land; and WHEREAS, Buyer., the County of San Luis Obispo, and the State of California all consider the preservation of the chain of peaks stretching from Morro Bay to San Luis Obispo commonly.known as the "Morros" to be a high priority for the community and for the people of the State, to the extent that the City of Morro Bay, City of San Luis Obispo and County of San Luis Obispo are cooperating in a special planning project with a citizens' advisory committee (known as the Morros Advisory Committee) whose goal is to develop a long -term plan for protection and proper stewardship of the Morros; and WHEREAS, Seller is owner of certain lands which lie within said Greenbelt, and which are of scenic, ecological, and agricultural value to the City of San Luis Obispo; and WHEREAS, said lands include the summit and upper elevations of the tallest of the Morros, commonly known as Bishop Peak; and WHEREAS, the purchase of said land in the judgment of Buyer would act to preserve the values indicated above and serve an important municipal purpose; and WHEREAS, Seller and City wish to settle their differences. regarding the value of said land and the authority of and options available to the City of San Luis Obispo to acquire said land; and WHEREAS, Seller wishes to protect the scenic character, natural environment, security and development of Sellers retained property that adjoins said land. RNR.11.13.97 1 1 NOW, THEREFORE, THE PARTIES HEREBY AGREE AS FOLLOWS:. CITY OF SAN LUIS OBISPO hereby agrees to purchase, and RAY B. BUNNELL hereby agrees to sell, all of Seller's right, title and interest in that certain real property in the County of San Luis Obispo, together with all easements, rights and appurtenances thereto (specifically including all water and.mineral rights), described in Exhibit A attached hereto, subject to the terms and conditions of this Agreement. Said property is hereinafter referred to as the "Property" and generally depicted in Exhibit B attached hereto, 1. PURCHASE PRICE AND DEPOSITS (a) The.purchase price for the Property is Eight Hundred Ninety Five Thousand Dollars ($89.5,000:00), payable by cashier's check to Seller.. (b) Buyer shall deposit the following sums with Cuesta Title insurance Company ( "Escrow Holder "), 1011 Pacific Street, San Luis Obispo, California: (i) $10,000 (the "Deposit ") on the opening of escrow, which sum shall be released from escrow and paid to Seller on opening of.escrow. Such sum shall be nonrefundable once the conditions in Paragraphs 3(a)- 3(c:), inclusive, and 4(a) have been satisfied. (ii) $885,000 plus Buyer's closing costs not less than one (1) day prior to the Closing Date, as defined below. 2.. Conveyance and Easement Agreement (a) Conveyance. Title to the Property shall be conveyed by Grant Deed and shall be insured by a CLTA (or at Buyer's election, an ALTA) owners policy of title insurance in the amount of the purchase price, showing title vested in Buyer, subject only to those exceptions listed .in the Preliminary Title Report and /or Supplemental Report approved or deemed approved by Buyer and Seller, and the Easement Agreement described in the next paragraph. (b) Easement and Boundary-maintenance-Agreement. Buyer and Seller shall execute an Easement and Boundary Maintenance Agreement.in the form of Exhibit C hereto which sets forth the parties obligations regarding public access of the Property, emergency and maintenance access through Seller's retained property, fencing and posting the Property, and establishment of buffer zones to prevent public access to Seller's retained property (the ''Easement Agreement "). MR 11.13.97 2 3. Conditions Precedent for Benefit of Buyer. Buyer's obligation to purchase the Property is expressly conditioned upon the satisfaction, deemed approval, or Buyer's waiver of each of the following conditions: (a) Title Report. Buyer's approval of the preliminary title report for the Property (the "Preliminary Title Report "). Buyer shall have ten (10) days after the receipt of the Preliminary Title Report and copies of all documents referenced therein, to give Seller and Escrow Holder written notice of Buyer's disapproval of any specific title exception (other than an exception to be removed at the close). Buyer shall have ten (10) calendar days after receipt of any Supplemental Report to similarly disapprove any new title exception. The Preliminary Title Report and such Supplemental Reports, if any, shall be deemed approved as to all items not disapproved by Buyer within the 10 -day period to disapprove the same. (b) Inspection and Approval of Property.. Buyer's inspection and approval of the Property and all improvements thereon. Buyer shall have thirty (30) days from the execution of this Agreement to give Seller and Escrow Holder written notice of Buyer's disapproval of any specific condition of the Property. The condition of the Property shall be deemed approved if not disapproved by Buyer within such 30 -day period. Buyer may at Buyer's option and expense obtain a noise study, a soils investigation, a Phase I or Phase II environmental report or any other investigation that the Buyer deems necessary concerning the physical condition of the Property, provided that the closing shall not be extended thereby without Seller's consent. Copies of all such reports will be delivered concurrently to Buyer and Seller. Access to the Property shall be given to Buyer, its agents and authorized representatives during normal business hours upon at least one (1) business day's notice to Seller, at their own cost and risk, for any purposes relating to Buyer's conditions. Buyer shall indemnify and defend Seller against and hold Seller harmless from all losses, costs, damages, liabilities, and expenses, including, without limitation, reasonable attorney fees arising out of Buyer's entry onto the Property or any activity thereon by Buyer or its agents, or authorized representatives prior to the Close of Escrow, except to the extent any such losses, costs, damages, liabilities, and expenses arise out of the gross negligence or willful acts of Seller. In the event of any claim of lien for materials supplied, or labor or professional services performed on behalf or at the request of Buyer, Buyer shall promptly satisfy and discharge such lien at its sole cost and expense upon demand therefore by Seller. Buyer shall RNR 11.13.97 3 repair any and all damages to the Property caused by any such tests and inspections. Any entry onto the Property by Buyer or its agents, or authorized representatives shall be at reasonable times. The provisions of this Section shall survive the Close of Escrow. (c) Anbroval of Grants. Formal approval of the State Coastal Conservancy to fund a grant in the amount of approximately Three Hundred Fifty Thousand Dollars ($350,000.00), and, formal . approval of the Morros Preservation Fund of the Sierra Club to fund a grant in the amount of approximately Forty -five Thousand . Dollars ($45,000), which approvals shall be secured before January 2, 1998; otherwise, this condition is deemed waived. The receipt of such funds is not a condition of Buyer's obligations. (d) Buyer's Disapproval and Election. Buyer shall have ten (10) days after giving its-notice of disapproval of either.title under subparagraph (a), or the condition of the property under subparagraph (b), or failure to obtain grant approvals under subparagraph (c); to elect in writing ,given to Seller and Escrow Holder to (i) terminate its obligations under this Agreement, or (ii) waive its objections, or (iii) elect to correct the subject of objection, in which case Seller will provide reasonable assistance to Buyer to cure the same, provided that Seller is not obligated to cure such defect or bear any expense thereby. The close of escrow shall not be extended by. reason of such disapproval or the period to cure, if any, without Seller's consent. Notwithstanding the foregoing, if Buyer elects ,o terminate .its obligations under this Agreement, such election shall be of no force or effect if Seller is able to remove or cure the defect disapproved by Buyer at the Closing. 4. Conditions Precedent for Benefit of Seller. Seller's obligation to sell the Property is expressly conditioned upon the satisfaction, deemed approval, or Seller's waiver of each of the following conditions: (a) Lot Line Adjustment. Approval by the County of San Luis Obispo of a lot line adjustment creating a parcel of 108 acres, more or less, which parcel shall be the Property to be conveyed to Buyer at the close of escrow under this Agreement. The size of the Property.shall be increased or deceased as necessary to ensure that the adjoining property owned by Seller contains not less than 170 acres and shall consist of such parcels, configuration of parcels, and conditions that Seller approves ( "Seller's Retained Property "). (b) Title Report. Seller's approval of the title to be conveyed to Buyer and the title to Seller's Retained Property after satisfaction of condition 4(a) above, provided that such approval shall not be unreasonably withheld. RNR 11.17.97 4 (c) Performance. Buyer's performance of all of the obligations which it is required to perform pursuant to this Agreement. 5. Escrow. (a) Escrow. Buyer and Seller.will establish an escrow ( "Escrow ") with Escrow Agent within ten (10) days of the execution of this Agreement, subject to the provisions of the standard conditions for acceptance of escrow and the terms and conditions in this Agreement, with a signed counterpart of this document to be delivered as escrow instructions to Escrow Holder. In the event of any conflict between the terms of this Agreement and the standard conditions for acceptance of escrow, the terms of this Agreement shall control. If Buyer fails to open Escrow by January 2, 1998, unless such date is extended by the written agreement of the parties, Seller may terminate this Agreement by written notice to Buyer and Escrow Holder, in which event Seller shall have no further. obligation to Buyer or Escrow Holder. (b) Closing Date. The close of Escrow shall occur on or before sixty (60) days (the "Closing Date ") after a copy of this Agreement (executed by both .Buyer and Seller) is deposited with the Escrow Holder, but in no event later than March 2, 1998, lu unless extended by mutual agreement of the parties. In no event shall Seller be required to extend the Closing Date. (c) Survey. Seller may complete a record boundary and topographic survey for the Property and for Seller's Retained Property. Buyer and Seller agree to each pay one -half of the cost of such survey, provided that Buyer's expenses shall not exceed $7,500.00. (d) Prorations and Fees. (i) Real property taxes shall be prorated to the close of escrow. (ii) The costs to complete the record boundary and topographic survey for the Property and for Seller's Retained Property shall be born equally between Buyer and Seller, subject to the limitations set forth in paragraph 5(c) above. (iii) Seller shall pay (1) the documentary transfer tax, (2) the premium for a CLTA policy of title insurance, and (3) recording fees. If Buyer elects an ALTA policy of title insurance, Buyer shall pay the portion of the premium that exceeds the premium for a CLTA policy of title insurance RNR 11.13.97 5 (iv) All Escrow fees shall be borne equally between Buyer and Seller. All other fees and costs shall be allocated according to custom in San Luis Obispo County. (e) Other Offers. Until the opening of Escrow, Seller may continue to market the Property, and, following the opening of escrow, Seller may take back -up offers subject to this Agreement. If Seller sells the Property to a third party before the opening of Escrow, this Agreement shall terminate without further notice or liability to Seller, Buyer, or such purchaser. 6. .Representations, Warranties, and Agreements. (a) Authorized - Representative. Buyer and Seller hereby represent and warrant to each other that the persons who sign this agreement and any other documents required to be executed by such party to perform its obligations hereunder, shall have all requisite power and authority to have entered into this Agreement, and that all authorizations required to be obtained by or on the part of such party to execute and perform this Agreement have been obtained. (b) Proof of Citizenship. Seller is not a foreign person as such term is used in Section 1445 of the Internal Revenue Code. Prior to the Close of Escrow, Seller shall deposit in Escrow a non - foreign affidavit as provided under said Section 1445, and the failure to do so shall entitle Buyer to withhold from the purchase price such sums as are required by said Section .1445: (c), Delivery of Proper be delivered by Seller to Bu: IS - WHERE IS" condition and thereto. Seller may remove, Close of Escrow all personal Property. ry. Possession of the Property shall der upon.the Close of Escrow in an "AS Seller makes no warranty with respect at Seller's expense, prior to the property and trade fixtures on the (d) Legal Actions. Each of the parties represents and warrants to the other that as of the Close of Escrow there are no actions, suits, or legal proceedings related to the ownership, use, operation or sale of the Property and that such party has not received any notice that any such actions are pending or threatened. (e) Brokers. Buyer and Seller, each represent to the other that it knows of no claim for broker's or finder's fees or other commissions in connection with this transaction. If any broker or finder asserts a claim for a commission or finder's fee, the party through whom the broker or finder makes this claim shall indemnify the other party for any and all costs and is (including attorney's fees) incurred by the other party in defending the same. RNR 11.13.97 6. (f) No -Build Areas. Seller has received preliminary approval of the County of San Luis Obispo to construct a 17 -unit residential development on Seller's Retained Property. On consummation of the sale contemplated by this Agreement, Seller will forfeit the right to construct four (4) residential units. The parties wish to ameliorate each other's concerns with respect to the location of the remaining units on Seller's residential development. Seller therefore agrees that to the extent permitted by the County of San Luis Obispo, he will refrain from constructing residences or accessory residential structures in the areas generally depicted on Exhibit D as "No- Build" Areas, and further agrees that his development request to the County of San Luis Obispo shall evidence this understanding, subject, however, to Seller's right to make adjustments to such "No Build" Areas as necessary to meet County requirements to protect the integrity and development of 13 units on Seller's Retained Property. 7. Notices. All notices, communications, consents, approvals and disapprovals required or permitted hereunder must be in writing and shall be delivered by personal delivery, facsimile, or deposited in the United States mail, postage prepaid and addressed as follows: TO BUYER: City of San Luis Obispo Dr. Neil Havlik Natural Resources Manager 990 Palm Street San Luis Obispo, CA 93401 Fax No. (805) 781 -7104 TO SELLER: Ray B. Bunnell 141 Suburban Road, A -5 San Luis Obispo, CA 93401 Fax Nos. (805) 545 -0878 / 541 -3985 The foregoing addresses may be changed by written notice. If served personally, or by facsimile, service shall be conclusively deemed made at the time of service. If served by mail, service shall be conclusively deemed made seventy -two (72) hours after deposit thereof in the United. States mail. 8. Miscellaneous. (a) Entire Agreement.. This Agreement, and the exhibits hereto, contains the entire agreement between the parties hereto. No modification or addition.to any term or provision hereof shall be effective unless made in writing and signed by both parties hereto. The captions and headings in this Agreement are for reference only and shall not be deemed to define or limit the scope or intent of any of the terms, covenants, conditions or agreements contained herein. RNR 11.13.97 7 (b) Attorneys' Fees. If litigation is commenced between the parties, the prevailing party in that litigation shall be entitled to recover from the nonprevailing party all reasonable attorney fees and costs. (c) Survival. All of the terms, provisions, representations, warranties, and covenants of the parties under this Agreement shall survive the Close of Escrow and shall not be merged in the Deed or other documents. (d) Successors. This Agreement shall inure to the benefit of and shall be binding upon the parties to this Agreement and their respective heirs, successors, and assigns. (e) Governing Law. This Agreement shall be governed and construed in accordance with California law. (f) Time of Essence: Time is of the essence in this Agreement. (g) Offer and Acceptance. This Agreement shall be of no force or effect whatsoever until signed by authorized representatives of both Buyer and Seller. (h) Exhibits. e. A Legal Description - 108 acres, more or less B Graphic Description of Property C Easement and Boundary Maintenance. Agreement D Graphic Description of No Build Areas; more or less "Seller" RAY B. BUNNELL Date: "Buyer " CITY OF SAN LUIS OBISPO by: .Allen Settle Mayor of the City of San Luis Obispo Date: RNA 11.13.97 8 ATTEST: Bonnie Gawf City Clerk _ or y ns RNR 11.13.97 C� C Exhibit A Legal Description (Draft) (Note: Exact description to be included upon completion of record survey and lot line adjustment.) . Parcel 1 — PORTIONS of both of the following: Parcel B of Parcel Map No. CO 73 -32, in the County of San Luis Obispo, State of California, according to map recorded June 18, 1979, in Book 11, page 71 of parcel maps. Parcel 2 of Parcel Map COAL 87 -028, in the County of San Luis Obispo, State of California, according to map recorded April 11, 1988, in Book 43, page 18 of parcel maps. Parcel 2 — An easement for maintenance and emergency purposes as described on Parcel Map No. CO 73 -32, appurtenant to Parcel B of said map, extended to the new property boundary as follows: (to be.provided by record survey) 1, IN Z)6 e J�l J Maintenance and Emergency Access Easement 47o?X M 4 F r 7�7 V N Property To Be Acquired I Fee L, �to. L-571% f j w ZA e Il I 111111 3 Ilk 2 "0 GeoData Services city of san Us oi3ispo 0 2DO 400 60O 800 Nistem 0 500 1000 1500 2000 2500 Feet rmm city of sAn LUIS OBISPO Map Exhibit B Greenbelt Program — Ray Bunnell Property Property To Be Acquired `•,. 4�'� -jet r'� �� I•`Z P f t= } r 9 M rJ d. a �• Bunnell -- `1 0 Ranch Remainder `r No-Build Area C I Id Area A . 1 ON• . • r. AnIO.� 4 i ' = d it 114 • kis �5 h � v�kk 4. if ,i 1 Y �1 Y 1ti w 3 City of san LUIS OBispo- Map Exhibit D Greenbelt Program - Ray Bunnell Property I No -Build Areas i Y 1ti w 3 City of san LUIS OBispo- Map Exhibit D Greenbelt Program - Ray Bunnell Property I No -Build Areas n Recording Requested By When Recorded Mail To EASEMENT AND BOUNDARY MAINTENANCE AGREEMENT This EASEMENT AND BOUNDARY.MAINTENANCE AGREEMENT ( "Agreement ") is entered into by and between the CITY OF SAN LUIS OBISPO ( "City "), a California Charter Municipal Corporation, and RAY B. BUNNELL ( "Bunnell "), pursuant to the following recitals: WHEREAS, City is a California Charter Municipal Corporation; and WHEREAS, City acquired from Bunnell by deed recorded concurrent herewith, all of that real property described in Exhibit A attached hereto ( "City Property "); and WHEREAS, the City Property is included in certain lands surrounding the City of San Luis Obispo, which the City has designated as the San Luis Obispo Greenbelt to preserve the scenic character, healthy natural environment, and economic and social well being of the community and its citizens; and WHEREAS, Bunnell is owner of certain lands described in Exhibit B attached hereto (the "Bunnell Ranch ") which adjoins the City Property; and WHEREAS, Bunnell wishes to preserve the scenic character, natural environment, security and development of the Bunnell Ranch. NOW, THEREFORE, for valuable consideration, the parties agree as follows: AGREEMENT A. Use of the City Property The City Property will forever remain in its natural state, and forever be and remain open space improved only with hiking and equestrian trails. The City will establish and keep such trails in a safe and well - maintained condition. RNR 11.13.97 1 C B. Buffer Zone i� Within 10 days after recording this Agreement, City, at its expense, shall post "no trespassing" signs in the Buffer- Zone depicted on Exhibit C attached hereto. City thereafter will keep posted no- trespassing signs, mark common boundaries, and take all reasonable steps to protect against trespassing on the Bunnell Ranch from land owned by the City. Trails on the City Property shall be setback generally 100' from the common property line separating the City Property and the Bunnell Ranch, and between 100' and 300' from the common boundary separating the former Ferrini Ranch and the Bunnell Ranch, except as otherwise agreed to by the parties and shown on Exhibit C. C. Access, Uses and Fencing (1) Neither public or private access to the City Property will traverse the Bunnell Ranch, except as expressly provided in paragraph D of this Agreement; however, the owners of parcels on the Bunnell Ranch and their invitees shall have unrestricted access through Bunnell's designated gates to the City Property for hiki -ng and equestrian uses without fee or charge. Such uses shall be subject to City open space rules and policies regarding hours of use and safety, provided that such rules and policies do not deny, prohibit or unreasonably restrain such hiking or equestrian use by the owners of parcels on the Bunnell Ranch and their invitees. (2) City and Bunnell will cooperate to promptly reconstruct as necessary the existing barbed wire fences on (i) the common boundary between the Bunnell Ranch and the former Ferrini Ranch, and (ii) the boundary between the City Property and the remainder of the Bunnell Ranch. The cost of such installation and /or reconstruction shall be shared equally between City and Bunnell. (3) City, at its expense, will construct a fence on the newly established boundary between the City Property and the remainder of the Bunnell Ranch where no such fence currently exists. Such construction or reconstruction shall be to a standard of 6 strands of barbed.wire. City, at its expense, will maintain, repair and replace the fence on the newly established boundary as needed to protect the Bunnell Ranch from trespass by the public. (4) Bunnell may select a minimum of two (2), but not more than four (4) gates through such fencing for access for Bunnell Ranch.owners and invitees at locations mutually acceptable. The cost of such gates shall be borne by Bunnell. City and Bunnell shall jointly control gate security. Location of the new and reconstructed fencing, and gates shall be generally as shown in Exhibit D. RNR 11.13.97 2 D. Grant and Reservation of Easement City is hereby granted a non - exclusive.easement to use the road described in Exhibit E only for emergency and maintenance access by employees of the City or the State of California to the City Property. Such road shall not be used by the general public for.access to the City Property for any purpose. City shall pay for any damage caused by the use of such.road on the Bunnell Ranch and all costs to repair, maintain and replace such road from the last house on the Bunnell Ranch to the City Property, which shall be maintained as an unpaved road in a reasonably accessible condition. Bunnell reserves the right of vehicular access on the road described in Exhibit E on the 28 -acre parcel for periodic inspection of the common boundary, and the repair of any fences damaged by Bunnell, his successors, assigns and invitees. E. Default and Remedies Each of the following shall constitute an "Event of Default" under this Agreement: (1) Either party fails to pay any amount due under this Agreement and such default continues for 3.0 days after notice that such amount is due and has not been paid. (2) Either party fails to perform or observe any other term, covenant, or undertaking in this Agreement to be performed or observed by such party and such default continues for 10 calendar days after the nondefaulting party gives the defaulting party . notice of such failure to perform, unless within that time period the defaulting party commences and continues diligent efforts to remedy the default, in which event the defaulting party shall have such additional time as is necessary to remedy the default before an Event of Default occurs. The non - defaulting party, in addition to any other remedies provided by this Agreement or law, may, after an Event of Default, pay the amount due or cure the default of the defaulting party; And in that event, the defaulting party.shall pay on demand the amount advanced by and all expenses incurred by the non - defaulting party to pay the amount due or to cure such default, together with interest at the maximum rate allowed by law from the date of demand until paid in full. In cases of emergency posing a risk of harm to individuals or animals, either party may proceed without prior notice to cure the default of the other party and shall,. upon demand, be immediately reimbursed for all costs and expenses in the course of such emergency cure. RNR 11.13.97 3 F. Attorneys' Fees If litigation is commenced between the parties, the prevailing party shall be entitled to recover from the nonprevailing party all reasonable attorney fees and costs in addition to any award granted. G. Successors This Agreement shall inure to the benefit of and shall be binding upon the parties to this Agreement and their respective heirs, successors, and assigns. , H. Governing Law This Agreement shall be governed and construed in accordance with California law. I. Time of Essence Time is of the essence in this Agreement. Bunnell RAY B. BUNNELL Date: City CITY OF SAN LUIS OBISPO by: Allen Settle Mayor of the City of San Luis Obispo Date: ATTEST: Bonnie Gawf City Clerk AVON RNR 11.13.97 4 Acknowledgment STATE OF CALIFORNIA ) ss COUNTY OF SAN LUIS OBISPO ) On , 1997, before me, a Notary Public for the State of California, personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons,,or the entity upon behalf of which the persons acted, executed the instrument. WITNESS my hand and official seal. Notary Public Exhibit A Legal Description (Draft) 0 (Note: Exact description to be included upon completion of record survey and lot line adjustment.) Parcel 1 — PORTIONS of both of the following: Parcel B of Parcel Map No. CO 73 -32, in the County of San Luis Obispo, State of California, according to map recorded June 18, 1979, in Book 11, page 71 of parcel maps. Parcel 2 of Parcel Map COAL 87 -028, in the County of San Luis Obispo, State of California, according to map recorded April 11, 1988, in Book 43, page 18 of parcel maps. Parcel 2 — An easement for maintenance and emergency purposes as described on Parcel Map No. CO 73 -32, appurtenant to Parcel B of said map, extended to the new property boundary as follows: (to be provided by record survey) fi pit 1 fi r' t i�i I� ' i �r.•i -"�� t y,✓ ry r���Et N y.'�r:.' .,,� 5 jam= �"— ."."�� �•' �.+�� �,,.•• "tie' ti+p� it 7 Bunnell -�- f � �i • tr it � r Ranch t �i Remainder 'l � R J ~f�J {PP 472 X t}-m 4 f �,� .. � �Yl .e��`.a_ ` fit• "�4_ •f ��41 �•t. 4t ' 4rh •� -� .z It -E' ' __ 11-. NIN !• . E �`° ' .r ;�•! ill °'wtiY, `,', i ! j"•j �'a P' •�' L,. Uri �o i 41 �f i lam: I WIN t !r GeoData Services city of san Luis oBispo 0 200 400 600 800 Meters T " 0 5w 1000 1500 2000 2500 Feet r _ city of san LUIS OBISPO Map Exhibit B Greenbelt Program — Ray Bunnell Property I Bunnell Ranch Remainder IIi� I III \11 ' rl drP 1 r ` t 'IGate r i _l If t Bunnell Ranch Remainder J I r' li 1�i1 4e MM 47ax _. M 300 Foot Buffer;` ' rII J S rrini O en S ace Bdstin Trails '1 0, , r } + % iM1 gy` II % 1.1 w GL city of san 1U IS OBISp0 Map Exhibit C Greenbelt Program — Ray Bunnell Property I Buffer Zone and Trails f City Obli atior Y 4 t I r I It Fence * cs� Potential Trails Joint r, Gate V A aIFZYW.(-stinciTrailst 57 W7 ' '2x 2 x ition Fence 14 4 — —7- itt 4 , , `:- x., i U 11 41 lit t NWI Cou OW SpacXP 1 10 GeoData Services city of san Luis oBispo 14 0 200 400 600 800 RMers TM 0 500 1000 1500 2000 2500 Feet city of sAn WIS OBISPO neap Exhibit D Greenbelt Program — Ray Bunnell Property Trails, Fences and Gates ^L Id' F� � t!y' -' • �-,� k r - R f ° Maintenance and Emergency Access Easement 5 'ell Property To Be rN Acquired In Fee � �. /r f l ! ,a"i'' . ��`=•; i' A�' l � �I `, t � �.- ti3 �,- -,. ._ 'ti '� t '+ 4 r^kx J F--1 I ti I' 3 ' a r F , 1 ■ 1 W r de s �r, > l 5 YT• F coo t � ''•' S•Z• �`'o ��r�� city of san Luis osispo Map Exhibit E Greenbelt Program — Ray Bunnell Property Access Easeinlellt %J ^L Id' F� � t!y' -' • �-,� k r - R f ° Maintenance and Emergency Access Easement 5 'ell Property To Be rN Acquired In Fee � �. /r f l ! ,a"i'' . ��`=•; i' A�' l � �I `, t � �.- ti3 �,- -,. ._ 'ti '� t '+ 4 r^kx J F--1 I ti I' 3 ' a r F , 1 ■ 1 W r de s �r, > l 5 YT• F coo t � ''•' S•Z• �`'o ��r�� city of san Luis osispo Map Exhibit E Greenbelt Program — Ray Bunnell Property Access Easeinlellt