This Shared Use and Maintenance Agreement ("Agreement"), is entered into by HCC INVESTORS, LIC, a Delaware limited liability company ("HCC"), and THE BRIDGES COMMUNITY ASSOCIATION, a California nonprofit mutual benefit corporation ("Master Association"). HCC and Master Association (collectively the "Parties") are entering into this Agreement with reference to the following recitals:
A. HCC is the owner and developer of real property in the unincorporated Rancho Santa Fe area of San Diego County identified to the California Department of Real Estate ("DRE") as Phase 1 of a master planned residential community known as The Bridges at Rancho Santa Fe ("The Bridges"). Current plans call for The Bridges to include an eighteen hole golf course ("Golf Course Property").
B. Phase I is subject to a Master Declaration of Covenants, Conditions, Restrictions and Reservation of Easements for The Bridges at Rancho Santa Fe ("Master Declaration"), which shall be recorded in the Official Records of San Diego County, California. Except as otherwise defined herein, the capitalized terms in this Agreement have the same meaning given them in the Master Declaration.
C. The single family Lots to be developed in The Bridges are served by private streets. Access to these Lots and the Golf Course Property is provided through an "Entry Drive" (defined below) which is a portion of "Lot 32" (defined below).
D. The Golf Course Property and Lot 32 are described on Exhibit "A" attached to this Agreement, and the Parties intend this Agreement to be recorded as an encumbrance upon said real property.
(Space Above for Recorderʼs Use)
E. As the "Annexable Territory", defined in the Master Declaration, is developed by HCC, these developed areas or "Phases" will become subject to the Master Declaration (collectively referred to as the "Properties"). Pursuant to the Master Declaration, the Master Association has been formed to manage and maintain the Master Common Areas within the Properties and to participate in the sharing of uses and expenses as provided in this Agreement.
F. The Properties include certain slope areas adjacent to the Golf Course Property ("Slope Maintenance Areas," defined below), the appearance and consistent maintenance of which will benefit all of The Bridges community. Slope Maintenance Areas within each Phase of the Properties will be maintained and repaired as a part of the maintenance of the Golf Course Property, and the costs of such maintenance and repair will be shared by the Master Association and the "Course Owner" defined below.
G. The Parties also foresee that the need to share other services or the operation and maintenance of other facilities, benefiting both The Bridges community and the Golf Course Property (a "Community Benefit Facility," defined below), may arise in future Phases. If developed as planned, the Golf Course Property will include a clubhouse and recreational facilities, to be used by persons who may be either residents or nonresidents of The Bridges community. HCC currently owns title to the Golf Course Property, but may transfer all or a portion of its interest therein to others, as described below. The Parties desire to provide in this Agreement for (i) ownership of Lot 32, (ii) easements for use of the Entry Drive, other streets and the Slope Maintenance Areas, (iii) rights and duties concerning operation, maintenance and expense sharing for the Entry Drive, the Slope Maintenance Areas and future Community Benefit Facilities; and (iv) drainage easements over the Golf Course Property.
Therefore, the Parties hereby declare that: the real property described on Exhibit A, and the Properties, are to be held, conveyed, used and improved subject to the easements and covenants contained herein for the use and maintenance of the Entry Drive, the Slope Maintenance Areas, the Golf Course Property, the Master Common Area and any Community Benefit Facility, to enhance the value and desirability of the Properties; all provisions of this Agreement are hereby imposed as equitable servitudes on the Properties and the Golf Course Property (collectively the "Benefited Properties"); and all provisions of this Agreement shall, unless otherwise stated, run with the Benefited Properties and be binding upon and inure to the benefit of the Benefited Properties, and all parties having or acquiring any right, title, or interest in the Benefited Properties, or any portion thereof or interest therein. Further, the Parties do agree as follows:
This Agreement shall be effective as of the date ("Effective Date") of the first close of escrow for the sale of a Lot in Phase 1, in a transaction requiring the issuance of a Final Subdivision Public Report by the DRE ("Close of Escrow").
Community Benefit Expense means all expenses incurred in operating and maintaining an Improvement, other community facility, or any activity defined as a Community Benefit Facility, pursuant to Sections 2.2 and 5.3 below.
Community Benefit Facility means any Improvement or community facility of any kind (other than the Entry Drive and Slope Maintenance Areas), or any other activity, located or performed within or in proximity to the Properties, which is:
Course Owner means the owner from time to time of fee title to the Golf Course Property, being HCC or its successor in interest thereto, and any agent or lessee of such owner who is responsible for the operation and maintenance of the Entry Drive or the Slope Maintenance Areas.
Entry Drive means (i) the portion of Lot 32 which is the private entry street from Aliso Canyon Road, along Seven Bridges Road, to the furthest point of vehicular access to the parking lot or lots serving the Golf Course Property clubhouse and other member facilities, together with the Improvements thereto including the street and walkways, walls, fences, signs, landscaping, lighting, fountains, and all utilities serving those Improvements, and (ii) any portions of the Golf Course Property located adjacent to said private entry street at the intersection of Aliso Canyon Road, upon which said Improvements may encroach, all as shown on Exhibit "B" attached to this Agreement. Entry Drive Improvements also include the Entry Gate, an access-control facility within the Entry Drive which may include one or more gates, controlled-access arms, buildings, walls or fences, operated pursuant to Section 5.1.3 below. The Entry Drive does not include either the "Residential Streets" defined below, or the structure housing mailboxes. If there is any discrepancy between the depiction of Entry Drive and Entry Gate Improvements on said Exhibit and their actual as-built conditions, the as-built conditions will control.
Entry Drive Expenses means all expenses incurred by Course Owner in operating, managing, maintaining, repairing, replacing and insuring the Entry Drive and all Improvements therein, pursuant to Section 5.1 below.
Fiscal Year means the fiscal year adopted by the Board of the Master Association.
Lot 32 means Lot 32 on the Map of Tract No. 4569-1, described in Exhibit "A" attached to this Agreement, or as shown or described in any deed of resubdivision, certificate of compliance, lot line adjustment, or other instrument reconfiguring Lot 32, which may enlarge or reduce the Lot 32 land area, and which HCC shall have the right to cause to be recorded over all or any portion of Lot 32, at any time prior to the conveyance of fee title to all of Lot 32 by HCC.
Residential Streets means those portions of the Properties, other than the Entry Drive, designated on any subdivision map, certificate of compliance, or lot line adjustment as "private streets".
Shared Expenses means the sum of the actual Entry Drive Expenses, Slope Maintenance Expenses, and Community Benefit Expenses, which sum is shared by Master Association and Course Owner pursuant to Section 7, below.
Actual Shared Expenses means the Shared Expenses actually incurred by Course Owner for the immediately preceding Fiscal Year.
Estimated Shared Expenses means an estimate of the Shared Expenses to be incurred by Course Owner during the next Fiscal Year.
Slope Maintenance Areas means those portions of certain Lots within the Properties, the approximate location of which is shown on Exhibit "B" attached to this Agreement. Slope Maintenance Areas within Phase I are described in Exhibit "E" attached to the Master Declaration, and any Slope Maintenance Areas within subsequent Phases of the Properties will be described in a Notice of Addition. All Slope Maintenance Areas described in the Master Declaration and any Notice of Addition shall be subject to this Agreement. If there is any discrepancy between the information contained within said Exhibits and the actual as-built conditions of the Slope Maintenance Areas, the as-built conditions will control.
Slope Maintenance Expenses means all expenses incurred by Course Owner in operating, maintaining, repairing, replacing, and insuring the Slope Maintenance Areas and the Improvements pursuant to Section 5.2 below. Because Slope Maintenance Areas are part of the Golf Course Property, some or all of Course Ownerʼs actual expenses of operation and maintenance exclusive to the Slope Maintenance Areas may not be reasonably ascertainable. Therefore, Course Owner shall have the right to determine such Slope Maintenance Expenses by proration of expenses attributable to such larger area on either the basis of the ratio that the actual square footage of the Slope Maintenance Areas bears to the approximate square footage of such larger area, or such other method of proration that Course Owner may determine more closely approximates its actual expense. Any such proration shall be calculated utilizing the best available cost information for the operation and maintenance of the Golf Course Property. In such case, these prorated expenses of operation and maintenance shall be deemed to be the actual Slope Maintenance Expenses.
Title to Lot 32 is held by HCC. HCC shall transfer fee title to all of Lot 32 to the Master Association, in a single conveyance or in multiple conveyances of portions of Lot 32, not later than the earlier of (1) the date of the Close of Escrow for the first sale of a Lot in the fifth (5th) Phase of the Properties, or (ii) the ten (10) year anniversary of the Effective Date. Such conveyance shall be by a grant deed free of all liens and encumbrances other than the reservations then of record and then-current real property taxes constituting a lien on the property but not delinquent, and subject to the reservation of easements and other provisions of this Agreement.
HCC hereby reserves for itself and its agents, invitees, successors in interest and assignees, every right of use and enjoyment of the Entry Drive which may be necessary or convenient for the use, development, construction and marketing of the Properties, the Annexable Territory and the Golf Course Property. Such use and enjoyment shall be limited only by the requirements that it be in conformance with applicable laws. These rights of use and enjoyment shall automatically be reserved or excepted for the benefit of HCC and others by the Recording of the grant deed transferring the Entry Drive from HCC to the Master Association, and shall include (i) the temporary marketing, construction and development rights and easements, and the permanent marketing rights and easements, all as more specifically described in Sections 14.2.2 and 14.2.3 of the Master Declaration, and (ii) the rights and easements appurtenant to the Golf Course Property described in Section 4.1.3, below.
HCC hereby grants to the Master Association, its agents, invitees, and Members, and the families, tenants, and invitees of Members, a non-exclusive easement, appurtenant to the Master Common Area and the Lots, over the Entry Drive, for the purpose of:
HCC hereby reserves over the Entry Drive rights and easements appurtenant to the Golf Course Property, for the benefit of the successor Course Owner, its agents, tenants, lessees, invitees, successors in interest, and assignees, which rights and easements shall be automatically granted upon the conveyance by HCC of the Golf Course Property to the successor Course Owner, and shall include, without limitation, the following:
HCC hereby reserves over the Slope Maintenance Areas exclusive rights and easements appurtenant to the Golf Course Property, for the benefit of the successor Course Owner, its agents, tenants, lessees, invitees, successors in interest, and assignees, which rights and easements shall be automatically granted upon the conveyance of the Golf Course Property to the successor Course Owner, and shall include the following:
These rights and easements shall also be automatically reserved over the Slope Maintenance Areas in the conveyance by HCC of any Lot to an Owner.
HCC hereby reserves over the Residential Streets, including the Master Common Area as defined in the Master Declaration, non-exclusive easements appurtenant to the Golf Course Property, for the benefit of the successor Course Owner, its agents, tenants, lessees, invitees, successors in interest and assignees, and for the purpose of vehicular and pedestrian access, ingress, egress and crossing, including, without limitation, golf carts authorized for use by the Course Owner, golf course maintenance vehicles, and the vehicles of golf course members and guests. This non-exclusive easement shall be automatically granted upon the conveyance of the Golf Course Property to the successor Course Owner.
HCC hereby reserves over the Golf Course Property non-exclusive easements, appurtenant to the adjacent residential Lots and the Master Common Area in each Phase of Development, for drainage of surface waters from the Properties, provided that such Lot drainage and the design and construction of any facilities for the conveyance of such Lot drainage, shall conform with Lot drainage plans and specifications approved pursuant to Article VIII, Design Control, of the Master Declaration, and approved by Course Owner pursuant to Section 10.14 of the Master Declaration. These drainage easements shall respectively be granted automatically to the Owner of a Lot upon the conveyance of a Lot by HCC, and granted automatically to the Master Association upon the conveyance of Master Common Area by HCC.
Operation and maintenance of the Entry Drive includes operating, managing, and insuring the Entry Drive and maintaining, repairing, and replacing all improvements located within the Entry Drive (excluding the clustered mailboxes and the structure housing them), in accordance with:
From the Effective Date, HCC shall operate and maintain the Entry Drive in accordance with the Accounting Procedures herein, until title to the Golf Course Property, together with the exclusive Entry Drive maintenance easement described in Section 4.1.3(b), above, is transferred to the Course Owner.
From the date of the transfer of the Golf Course Property to a successor Course Owner, with the exclusive Entry Drive maintenance easement, the successor Course Owner shall operate and maintain the Entry Drive in accordance With the Accounting Procedures, and shall maintain its Entry Drive golf course signs, monuments and media, but excluding HCC signs, media and the mailbox structure and clustered mailboxes to be maintained by the Master Association.
HCC shall have the right, in its sole discretion, to establish the methods of operating the Entry Gate. Until the issuance of the first Certificate of Occupancy for a residence within The Bridges and the actual occupancy of such residence (the "Occupancy Date"), such methods of operation may include (i) operation without any access control, (ii) electronically-operated (unmanned access control), (iii) operation with access-control personnel of such number and during such hours as HCC may determine, or (iv) operation using a combination of these methods. Course Owner shall have the same rights to establish the methods of Entry Gate access control, provided that Course Owner shall not operate the Entry Gate in any manner which interferes in any way or at any time, seven days per week, with the access rights of HCC for marketing, construction and development purposes as described in Section 4.1.1 above, or which unreasonably interferes with the access right of the Master Association and its Members, as described in Section 4.1.2, above. After the Occupancy Date, unless otherwise agreed between HCC or the Course Owner and the Owner of the occupied residence or residences, the Entry Gate shall be operated by not less than one person, on a twenty-four hour basis.
Course Owner shall operate and maintain the Slope Maintenance Areas, including the cultivation, maintenance and replacement of landscaping and natural vegetation, and the maintenance, repair, installation and replacement of all other Improvements therein, such as irrigation and drainage facilities, in compliance with applicable laws, and in accordance with the Accounting Procedures (the "Slope Maintenance Responsibilities"). Slope Maintenance Responsibilities shall commence as to Phase 1 on the first day of the month following the Effective Date, and as to Slope Maintenance Areas in each subsequent Phase of development on the first day of the month following the first Close of Escrow for a Lot in such Phase.
Course Owner shall maintain liability insurance insuring the Slope Maintenance Areas and the Owners of Lots subject to an easement for Slope Maintenance Areas, against liability arising from Course Ownerʼs performance of its Slope Maintenance Responsibilities. This insurance obligation may be fulfilled by naming the Owners of such Lots as an additional insured under a liability insurance policy maintained for the Golf Course Property. Costs attributable to this insurance obligation, if any, shall be a Slope Maintenance Expense.
Except for the liability of others for damage caused to the Slope Maintenance Areas described in Section 6.1 below, Course Owner shall be responsible, at its sole cost, for the repair and replacement of slopes, landscaping and other improvements within the Slope Maintenance Areas, damaged as the direct result of either (i) Course Ownerʼs negligence or willful misconduct in the performance of its Slope Maintenance Responsibilities ("Course Ownerʼs Acts"), or (ii) the subsurface condition, grading or compaction of the Slope Maintenance Areas (collectively "Slope Conditions"). Costs of repair and replacement necessitated by Course Ownerʼs Acts or Slope Conditions shall not be a Slope Maintenance Expense. However, repair and replacement of slopes, landscaping and other improvements within the Slope Maintenance Areas damaged as the direct result of fire, flood, earthquake or other natural disaster, shall be a Slope Maintenance Expense.
Any Community Benefit Facility shall be operated and maintained, including the obligation to insure, repair and replace such Improvement or facility, as applicable, or shall be performed, in compliance with the terms of the Notice of Addition which describes the respective Community Benefit Facility, and with the Accounting Procedures. If Master Association is not to operate and maintain or provide the Community Benefit Facility, then, to the extent they are reasonably applicable, provisions of the Accounting Procedures pertaining to Course Owner shall instead mean Master Association, and the provisions pertaining to Master Association shall instead mean Course Owner.
Except for liability for Course Ownerʼs Acts and Slope Conditions, described in Section 5.2.2 above, Course Owner shall have no responsibility or liability to Master Association, to any Lot Owner, or to any other owners' association ("Project Association"), for any slope damage, slope failure or other loss to Slope Maintenance Areas resulting from (1) the drainage of water into or across the slope which does not conform with drainage plans approved pursuant to Article VIII of the Master Declaration, or (ii) any other act or use by Master Association, any Lot Owner or a Project Association.
Course Owner shall indemnify and hold the Owner of any Lot subject to Slope Maintenance Areas free from all loss or liability for injury to persons and property damage arising directly from the performance by Course Owner of its Slope Maintenance Responsibilities, which does not include injury and damage resulting from fire, flood, earthquake and other natural disasters.
The Master Associationʼs share of Shared Expenses (Master Associationʼs Share) shall be an amount not to exceed fifty percent (50%) of Shared Expenses, and shall be determined from time to time by multiplying fifty percent (50%) of the Shared Expenses by a fraction, the numerator of which is the number of Lots in the Properties for which Annual Assessments have commenced, pursuant to the Master Declaration, and the denominator of which is two hundred six (206).
Course Ownerʼs share of Shared Expenses shall be the difference from time to time between total Shared Expenses and the Master Associationʼs Share.
Shared Expenses shall be paid in twelve (12) equal monthly installments (Installment) which shall be due on the first day of each calendar month, commencing on the first day of the first full month following the Effective Date, and continuing on the first day of each calendar month thereafter ("Due Date").
No less than sixty (60) nor more than ninety (90) days prior to the first day of the Fiscal Year of the Master Association, Course Owner shall deliver to the Master Association Board a budget showing the Estimated Shared Expenses. Master Association shall pay to Course Owner the Master Associationʼs Share of the Estimated Shared Expenses as provided in Section 7.3, above.
No later than sixty (60) days after the first day of each Fiscal Year of the Master Association, Course Owner shall deliver to the Master Association Board a statement showing the Actual Shared Expenses. If the Master Associationʼs Share of the Estimated Shared Expenses exceeds its share of the Actual Shared Expenses, Course Owner shall apply such amount toward the Master Associationʼs Share due in the succeeding Fiscal Year. If the Master Associationʼs share of the Actual Shared Expenses exceeds its share of the Estimated Shared Expenses, then it shall pay such excess amount ("Deficit") to Course Owner within sixty (60) days after receipt of the statement of Actual Shared Expenses. If the Deficit cannot be so paid in full by the Master Association either from excess Operating Funds or other Maintenance Funds due to an insufficiency of funds, or from a supplemental Annual Assessment due to the limitations set forth in Section 6.7.3 of the Master Declaration, then the Master Association shall pay the Deficit in full no later than the last day of the then-current Fiscal Year.
Any Estimated Shared Expenses prepared by Course Owner which would cause Shared Expenses to exceed one hundred and twenty percent (120%) of the Actual Shared Expenses for the preceding Fiscal Year, must be approved in advance by the vote or written consent of at least a majority of the voting power of the Master Association exercised in accordance with the Master Declaration. Notwithstanding the foregoing, a proposed increase may cause Shared Expenses to exceed one hundred twenty percent (120%) of the Actual Shared Expenses for the preceding Fiscal Year without approval of Master Association, if such increase is necessary for an "Emergency Situation," as defined below.
If Course Owner determines the need for capital improvements to the Entry Drive, Slope Maintenance Areas, or any Community Benefit Facility (collectively the Shared Facilities"), the cost of which, in the aggregate, exceeds five percent (5%) of the Estimated Shared Expenses for the current Fiscal Year, then the vote or written consent of at least a majority of the voting power of Master Association shall be required to approve the cost of such expenditure (Capital Improvement Fee). Notwithstanding the foregoing, a Capital Improvement Fee in excess of five percent (5%) of the Estimated Shared Expenses for the current Fiscal Year may be levied by Course Owner, if such increase is necessary for an Emergency Situation. The Master Associationʼs Share of such Capital Improvement Fee shall be paid by Master Association within sixty (60) days of the due date established by Course Owner. If the Capital Improvement Fee cannot be so paid in full by the Master Association either from excess Operating Funds or other Maintenance Funds due to an insufficiency of funds, or from a supplemental Annual Assessment due to the limitations set forth in Section 6.7.3 of the Master Declaration, then the Master Association shall pay the Capital Improvement Fee in full no later than the last day of the then-current Fiscal Year.
An "Emergency Expense" is any one of the following pertaining to the Shared Facilities, or any part or improvement thereof: (a) an expense required by an order of a court, or (b) an expense necessary to repair or maintain the Shared Facilities, where a threat to personal safety is discovered; or (c) an expense necessary to repair or maintain the Shared Facilities that could not have been reasonably foreseen by Course Owner in preparing and distributing the statement of Estimate Shared Expenses. Course Owner shall decide whether an increase is an Emergency Situation. However, prior to the imposition or collection of the expense of an Emergency Situation, Course Owner shall provide a written statement of the reasons why the expense could not have been reasonably foreseen, and such written statement shall be distributed to Master Association within thirty (30) days of such expenditure.
Upon reasonable notice to Course Owner, an authorized representative of the Master Associationʼs Board shall be entitled, during normal business hours, at Course Ownerʼs place of business, to inspect and copy, at its sole expense, the records of Course Owner relating to the Shared Expenses. Course Owner shall maintain all such records for each Fiscal Year for at least three (3) years after the end of such Fiscal Year.
Course Owner shall deposit all amounts collected from Master Association attributable to Shared Expenses and any Capital Improvement Fee in a federally insured financial institution. The amounts shall be used exclusively for the operation, maintenance, repair, replacement and insurance of the respective Shared Facilities for which they were collected. Annually Course Owner shall provide Master Associationʼs Board with a written statement of receipts and disbursements from the account during the preceding year, and its balance at the end of that year. This statement shall be included with the statement of Actual Shared Expenses required above.
Any Installment shall be delinquent if not paid within fifteen (15) days of the Due Date, and if delinquent the Master Association may be required to pay a late charge equal to ten percent (10%) of the delinquent Installment, or ten dollars ($10.00) whichever is greater. If any Installment is not paid within thirty (30) days after the Due Date, such Installment plus all reasonable costs of collection (including attorney fees), shall bear interest at the maximum legal rate, commencing thirty (30) days after the Due Date until paid.
Any disputes between Master Association (or any Owners) and HCC or Course Owner, or between HCC and Course Owner, and including any directors, officers, partners, shareholders, members or agents of such parties, relating to this Agreement, the use or condition of the Entry Drive, Master Common Area, Slope Maintenance Areas or Golf Course Property, or the construction of any Improvements thereon, shall be subject to the dispute notification and resolution procedure set forth in Sections 15.14.1 through 15.14.6 of the Master Declaration, which are incorporated herein by this reference. In applying the provisions of said Sections, the term "Declarant" therein shall mean HCC.
9.1 Recordation. This Agreement shall be recorded by the Parties in the Office of the San Diego County Recorder, thereby encumbering the real property described in Exhibit "A" attached hereto.
9.2 Amendment and Termination. This Agreement may be amended, restated or terminated only by a written agreement executed by all Parties and recorded in the Office of the San Diego County Recorder; provided, however, that HCC shall have the unilateral right to execute and record any amendment or restatement of this Agreement which is for the purpose of (i) correcting a legal description contained in Exhibit "A," attached hereto, or (ii) revising to enlarge or reduce the real property described in "Exhibit A," attached hereto, if such real property is owned solely by HCC, and such revision corresponds with a resubdivision, certificate of compliance, lot line adjustment or other instrument reconfiguring or affecting either Lot 32 or the Golf Course Property.
If an action is commenced to enforce or interpret any provision hereof, the prevailing party as determined by a final court judgment shall be entitled to recover from the other party, reasonable attorney fees and expenses incurred in the action as the court may award, including but not limited to, expert witness fees, photocopying and telephone charges, deposition costs, travel expenses, and investigation expenses.
Exhibits "A" and "B" are attached and incorporated herein by this reference.
The provisions hereof shall be interpreted to give effect to their fair meaning and shall be construed as though prepared by both Parties. The entire agreement of the Parties is set forth herein, and all prior negotiations, documents, and discussions are superseded. The Parties acknowledge there are no applicable representations, warranties or terms which are not stated herein. The invalidity of any provision shall not affect the validity of any other provision. Section headings are for convenience only and may not be used in interpretations. All interpretations are to be made in accordance with California law.
All notices and consents required or allowed shall be in writing and shall be sent to the addresses shown beside the signatures of the Parties. A party may change its address for notices and consents by giving notice to the other party. Notice may be delivered by personal delivery, facsimile transmission during normal business hours of the recipient, an overnight delivery service, or U.S. mail sent certified. Notices and consents are effective on the earlier of the date received, the date of the delivery receipt, or the third day after postmark, as applicable.
No right or remedy will be waived unless the waiver is in writing and signed by the party claimed to have made the waiver. One waiver will not be interpreted as a continuing waiver.
No portion of this Agreement shall operate to defeat or render invalid, in whole or in part, the rights of the beneficiary, insurer, guarantor, or holder of any mortgage or deed of trust encumbering any portion of the Golf Course Property, Lot. 32, and the Properties; provided that, after foreclosure of any such mortgage or deed of trust, the property encumbered by the foreclosed mortgage or deed of trust shall remain subject to all the easements, rights, obligations, and other provisions of this Agreement.
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COUNTY OF ORANGE ) ) ss. ) [NOTARY ACKNOWLEDGMENT FOR SHARED USE AND MAINTENANCE AGREEMENT On 1999, before me, _ the undersigned, a Notary Public in and for said State, personally appeared _ personally known tom e (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or theentity upon behalfofwhich the person acted, executed the instrument. WITNESS my hand and official seal. Notary Public in andfor said State
Lot 32 of Tract No. 4569-1 according to Map thereof No. 12109 filed on July 6, 1988, in the Office of the San Diego County Recorder, California.
Legal Description of Golf Course Property:
The Golf Course Property is described as Parcels 1, 2 and 3 as shown on Exhibit "A" attached to that Grant of Open Space Easement (Recreational) recorded on August 11, 1987, as Instrument No. 87-452194, and rerecorded on April 14, 1988, as Instrument No. 88-172855, in Official Records of San Diego County, California.
Drawing Depicting Golf Course, Lot 32, Entry Drive and Slope Maintenance Areas
Lots 1 and 19 of Tract No. 4569-1 according to Map thereof No. 12109, Filed on July 6, 1988, in the Office of the County Recorder of San Diego County, California; and Parcels "A" through "L," inclusive, and Parcels "Q," "R," "S," and "CC," described on Exhibit "A" of Certificate of Compliance, filed on November 20, 1998, as Document No. 1998-0755851 in Official Records of the San Diego County Recorder's Office, and described on pages G-2 through G-7 of this Exhibit "G".