2022/09/21 Sutter Mitland 01, LLC Cash in lieu agreement Audie Murphy Ranch IS19-063Docu,Sign Envelope ID: 4 72A 7E6E-0G 16-43B2-B821-0E2G28218A58
CITY OF MENIFEE AUDIE MURPHY RANCH IS19-063
CASH IN-LIEU AGREEMENT
THIS CASH IN-LIEU AGREEMENT ("Agreement") is made and entered into this ____ day of ________, 2022, by and between the City of Menifee ("City") and Sutter Mitland 01, LLC, a Delaware Limited Liability Company ("Developer").
RECITALS
WHEREAS, in or about September 2016, Developer submitted to City, and City thereafter approved, a Street Improvement Plan for Tract 31822-1 (the "Plans"), which are
attached hereto as Exhibit A for reference only; and
WHEREAS, page 7 of 9 of the Plans contained a plan for the construction of a headwall
on Normandy Road in the City of Menifee; and
WHEREAS, based upon information currently available, the parties acknowledge that said headwall should not be constructed as indicated in the Plans; and
WHEREAS, the parties desire this Agreement to set forth their agreement regarding a
cash in-lieu payment instead of construction of said headwall.
AGREEMENT
Based on the foregoing Recitals, which are incorporated herein by reference, and for mutual consideration, which is hereby acknowledged, the parties agree as follows:
1.Developer shall pay to City forty-nine thousand, eight hundred ten dollars($49,810.00) as a cash in-lieu payment ("In-Lieu Payment").
2.The In-Lieu Payment shall be in the fonn of a check or cashier' s check.
3.The In-lieu Payment shall be made on the date of execution of this Agreement.
4.Five business days after City's receipt of funds from the In-Lieu Payment, Cityshall no longer require the construction of the headwall on Normandy Road, as indicated on page 7 of 9 of the Plans.
5.To the extent practicable, the amount of the In-Lieu Payment will be used by Cityfor a future Normandy Road widening project. If said project is not undertaken, the amount of
the In-Lieu Payment will be used by the City for capital improvement projects.
hereto. 6.This Agreement shall be binding on the successors and assigns of the parties2671/03 l 858-0003 17937220.1 a06/ J 4/22 DocuSign Envelope ID: DE18B83E-B492-418F-84D9-5EB5D35B380D
September21st
DocuSign Envelope ID: 472A7E6E-0C16-43B2-B821-0E2C28218A58
7.This Agreement may not be assigned, conveyed, or otherwise transferred by any
party without the other party's written consent.
8.This Agreement may be executed in counterparts, each of which shall be deemedan original.
9.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 paity, (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.
10.As to the subject matter herein, it is understood that there are no oral agreementsbetween the paities hereto affecting this Agreement and this Agreement supersedes and cancels any and all previous negotiations, arrangements, agreements and understandings, if any, between
the parties, and none shall be used to interpret this Agreement.
11.This Agreement may be amended at any time by the mutual consent of the pa1tiesby an instrument in writing.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
CITY:
City of Menifee
Daniel Padilla, Deputy Public W arks Director / City Engineer
ATTEST:
Sarah Manwaring, City Clerk
2671 /031858-0003 17937220.1 a06/14/22 -2-
DEVELOPER:
utte�,a,<MU, LLC
By:���President
Address: 3200 Park Center Drive, Suite 1000
Costa Mesa, CA 92626
DocuSign Envelope ID: DE18B83E-B492-418F-84D9-5EB5D35B380D
City of Menifee
Armando G. Villa, City Manager
_____________________________________
Stephanie Roseen, Acting City Clerk
_________________________
DocuSign Envelope ID: DE18B83E-B492-418F-84D9-5EB5D35B380D
DocuSign Envelope ID: DE18B83E-B492-418F-84D9-5EB5D35B380D
DocuSign Envelope ID: DE18B83E-B492-418F-84D9-5EB5D35B380D