Fibre Innovations Limited
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DOC U MEN T : 1 51 32538 Tit I es : 1 / Pages: 6
RECORDING REQUESTED BY
AND
WHEN RECORDED MAIL TO:
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City of Gilroy
7351 Rosanna Street
Gilroy, CA 95020
Attn: City Clerk
BRENDA DAVIS
SANTA CLARA COUNTY RECORDER
Recorded at the request of
Ci ty
ROE tt 005
1/25/2000
2:1216 PM
APN: 841-16-073
SPACE ABOVE THIS LINE FOR RECORDER'S USE
COVENANT REGARDING DEVELOPMENT FEES
(COVENANT RUNNING WITH THE LAND)
This Covenant Regarding Development Fees ("Covenant") is made and entered into as of
January IS, 2000 ("Effective Date") by and between the City of Gilroy, a municipal corporation
("City") and Fibre Innovations Limited Liability Corporation, a California corporation ("Owner").
RECITALS
A. Owner is the fee owner of certain real property located at 6791 Alexander Street,
Gilroy, California, more particularly described on Exhibit "1" attached hereto ("Property"). Owner
desires to construct a new industrial building comprised of approximately One hundred twenty-four
thousand, eight hundred (124,800) square feet upon the Property (the "New Business"). In
connection with the development ofthe New Business, Development Impact Fees in the amount of
Three hundred forty-two thousand four hundred seven dollars and fifty-six cents ($342,407.56) will
be due and owing to City upon issuance of a building permit for construction of the New Business.
Pursuant to a certain Agreement between the City of Gilroy and Fibre Innovations Limited Liability
Corporation, being entered into concurrently herewith ("Deferral Agreement"), the City will grant
Owner a contingent credit against Development Impact Fees in the amount One Hundred Forty
Thousand Dollars ($140,000) ("the Deferred Fees"), pursuant to which all or a portion of the
Deferred Fees, together with interest thereon at the City's highest investment rate for new monies
computed from the date of issuance of the building permit for the New Business until the amount
owing is paid in full ("Interest"), may become payable to the City at a later date on the terms and
conditions set forth in the Deferral Agreement. The parties desire to enter into and record this
Covenant as notice to all subsequent owners of the Property that the Deferred Fees and Interest may
be payable by the Property Owner to the City in accordance with the terms and conditions of the
Deferral Agreement.
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EXHIBIT "1"
Being a portion of Las Animas Ranch Lot 48, Santa Clara County Records, described as follows:
Beginning at a 4" x 4" post marked B. 3M. common comer for Las Animas Ranch Lots 48 and
47, as surveyed by A. T. Herrmann at the partition of the Las Animas Rancho; thence South 830
06' West 683.70 feet to the East boundary line of Ranch Lot 68 "Southern Pacific RR Co's
R/W"; thence Northerly along the East boundary line of Rancho Lot 68 to the right along a curve
of radious of 17,139 feet, 1191.40 feet to the intersection of the East boundary line of Ranch Lot
68 with the South boundary line of Bane Lane; thence along South boundary line of Bane Lane,
South 890 45' East 1138.10 feet; thence South 00 12' West 1013.50 feet to the point of
beginning.
Excepting therefrom that certain parcel ofland conveyed to the City of Gilroy, recorded
December 29, 1972 in Book 0172 OR pages 455 and 458, Santa Clara County Records, described
as follows:
Beginning at the Northeasterly comer of said parcel; thence along the Easterly line of said parcel
S. 00 50' 45" W. 1014.13 feet to the Southeasterly comer of said parcel; thence along the
Southerly line of said parcel S. 83044' 35" W. 32.08 feet; thence N. 120 57' 57" W. 59.91 feet;
thence N. 2023' 27" W. 912.49 feet to the point of tangency with a 20 foot radius curve to the
left; thence along said 20 foot radius curve through a central angle of 860 46' 08" an arc distance
of30.29 feet to a point distant 30 feet measured at right angles from the South line of Banes
Lane; thence N. 0050' 25" E. 30.00 feet to the said South line of Banes Lane being also the
Northerly line of said parcel; thence along said Northerly line S. 89009' 35" E. 117.63 feet to the
point of beginning.
Assessor's Parcel No: 841-16-073
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NOW, THEREFORE, FOR VALUABLE CONSIDERATION, THE PARTIES AGREE AS
FOLLOWS:
1. Owner hereby agrees, on behalf of itself and all subsequent owners of the Property,
to pay, when due, all Deferred Fees and Interest, in accordance with the terms and conditions set
forth in the Deferral Agreement.
2. The City and Owner hereby declare their express intent that the covenants set forth
in this Agreement are covenants running with the land, and apply to and bind Owner and each of
Owner's heirs, assigns, successors and successors-in-interest, and all subsequent owners of the
Property, all of whom shall have joint and several liability for the payment of the sums due to City
as described in this Covenant. Each and every contract, deed or other instrument hereafter executed
conveying the Property or any portion thereof shall be held conclusively to have been executed,
delivered and accepted subject to such covenants, regardless of whether such covenants are set forth
in such contract, deed or other instrument. All covenants contained herein shal~ without regard to
technical classification or designation, be binding upon the Owner and its heirs, assigns, successors
and successors-in-interest, and all subsequent owners of the Property, for the benefit of the City, and
such covenants shall run in favor of City without regard to whether the City is an owner of any land
or interest therein to which such covenants relate.
3. If any action or suit is brought by one party against the other to enforce or interpret
this Covenant, the prevailing party in such action or suit shall be entitled to have and recover from
the other party all costs and expenses incurred in such action or suit, including reasonable attorneys'
fees.
4. If any provision of this Covenant is, or hereinafter is determined to be, for any reason
void, unenforceable or invalid, the remainder of this Covenant shall be and remain in full force and
effect. This Covenant shall be governed and construed in accordance with the laws of the State of
California. The waiver or failure to enforce any provision of this Covenant shall not operate as a
waiver of any future breach of any such provision or any other provision hereof.
Executed on the date set forth below.
Dated: \ - I 9 - 00
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STATE OF CALIFORNIA )
)ss.
COUNTY OF SANTA CLARA )
On January 19,2000, before me, Rhonda Pellin, Notary Public, personally appeared Jay Baksa
personally known to me 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 the entity upon behalf of which the person acted,
executed the instrument.
WITNESS my hand and official seal.
~LMI~ eu~'
Sigpature of Notary Public
t - - - - - ~H~N;A;~N - --I
a Commission # 1142623 2
~ ~ Notav Public - Califania ~
z Sante Ciao County I
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per GC Sec. 40814; CC Sec. 1181
(Notary Seal)
Dated:
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Dated~ \ 0 I Vll
ATTES~~'
City Clerk
APPROVED AS TO FORM:
~~.~
City Attorney
FillRE INNOVATIONS LIMITED LIABILITY
CORPORATION, a California Corporation
By:
Robert Pederzani, Man
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.'
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
No. 5907
State of
County of
C' or
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On :SAUL< 4f2'J. 10: 700 u before me,
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personally appeared KQb<?/r 1- r 0. Ar I
2JCifI/ld (', : ?'(:,J ( ,'Yl j.vof-c<.J--<A Ou..blf C
NAME, TITLE OF OFFICER - E.G., "JANE DoE, NOTARY PUBLIC"
fJ e d E ,r z: Cl ,V] ('
NAME(S) OF SIGNER(S)
D personally known to me - OR - [2l 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 ac-
knowledged to me that he/she/they executed
the same in his/her/their authorized
capacity(ies), and that by his/her/thei r
signature(s) on the instrument the person(s),
or the entity upon behalf of which the
person(s) acted, executed the instrument.
I~-------~---J
. RHQNDAPEiUN .
_ Camnission. 1142623 2
~ NDtav Public - CaIifcrrIa s:
? Santa Ctaa County -
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WIT~E';J'Y hand andofficial seaL
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SIGNATURE OF NOTARY
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent
fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER
D INDIVIDUAL
D CORPORATE OFFICER
DESCRIPTION OF ATTACHED DOCUMENT
TITLE OR TYPE OF DOCUMENT
TlTLE(S)
D PARTNER(S)
D LIMITED
D GENERAL
D ATTORNEY-IN-FACT
D TRUSTEE(S)
D GUARDIAN/CONSERVATOR
D OTHER:
NUMBER OF PAGES
DATE OF DOCUMENT
SIGNER IS REPRESENTING:
NAME OF PERSON(S) OR ENTITY(IES)
SIGNER(S) OTHER THAN NAMED ABOVE
@1993NATIONALNOTARY ASSOCIATION. 8236 Remmel Ave., P.O, Box 7184. Canoga Park, CA 91309-7184