Title
Consider Adopting a resolution to:
a. Accept the Re-Assignment of the previous Partial Assignment of the Deed of Trust Document No. 2021017449 and all beneficial interests under the Subdivision Improvement Agreement, Document No. 2012031807.
b. Authorize the Chair to execute the Re-Assignment of the previous assignment of the Deed of Trust and
c. Direct the Clerk of the Board to submit the Re-Assignment to the Recorder for filing.
Located south of the intersection of Highway 68 at Post Mile marker 8 and York Road (Attachment H)
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RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a resolution to:
a. Accept the Re-Assignment of the previous Partial Assignment of the Deed of Trust Document No. 2021017449 and all beneficial interests under the Subdivision Improvement Agreement, Document No. 2012031807.
b. Authorize the Chair to execute the Re-Assignment of the previous assignment of the Deed of Trust and
c. Direct the Clerk of the Board to submit the Re-Assignment to the Recorder for filing.
SUMMARY/DISCUSSION:
On October 18, 2011, the Board of Supervisors approved a Combined Development Permit (PLN100020) for York Highlands Resubdivision, which included a Vesting Tentative Map for the re-subdivision of Monterra Ranch Final Map Phases 6, 8 & 10 consisting of the reconfiguration of 24 residential lots together with a subdivision improvement agreement (Attachment B).
The owners United Security Bank, Monterey County Bank and Signature York Highlands, LLC referred to herein as “SIGNATURE”, had not remitted payment to Don Chapin Construction company “CHAPIN” for the construction of certain subdivision improvements. Therefore, under the subdivision improvement provisions, SIGNATURE was liable to CHAPIN for payment related to the construction of these improvements.
On March 9, 2021, CHAPIN, SEATEC UNDERGROUND UTLITIES (sub-contractor to CHAPIN) and COUNTY OF MONTEREY executed an agreement to assign a deed of trust and the benef...
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