HomeMy WebLinkAboutResolution 2005-026 partial release document for the proposed M&I bank site
MARANA RESOLUTION NO. 2005-26
RELATING TO DEVELOPMENT; AUTHORIZING THE TOWN MANAGER TO EXECUTE
A PARTIAL RELEASE DOCUMENT, RELEASING THE PROPOSED M&I BANK SITE
FROM THE REAL ESTATE EXCHANGE AND DEVELOPMENT AGREEMENT
RECORDED DECEMBER 19, 2003.
WHEREAS, the Mayor and Council of the Town of Marana adopted Ordinance No.
2003.32 on December 16, 2003, authorizing the execution of a Real Estate Exchange and
Development Agreement relating to the Town of Marana District Park and Continental Ranch
Library site located generally east and south of the intersection of Silverbell and Cortaro Fanns
Roads; and
WHEREAS, Arizona Pavilions Development has sold a parcel of adjacent land to the
M&I Bank for the construction of a bank building and related improvements; and
WHEREAS, First American Title Insurance Company is requiring Arizona Pavilions
Development to obtain a release from the Town of Marana, releasing the M&I Bank site from
the Real Estate Exchange and Development Agreement; and
WHEREAS, it was not the intention of the Town of Marana to encumber surrounding
properties retained by the developer in connection with the execution of the Real Estate
Exchange and Development Agreement; and
WHEREAS, the Town of Marana desires to expressly authorize the Town Manager to
execute documents that facilitate the sale of surrounding private property free and clear of any
apparent encumbrance resulting from the Real Estate Exchange and Development Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE
TOWN OF MARANA, ARIZONA, that the Town Manager is hereby authorized to execute on
behalf of the Town of Marana the Partial Release of Real Estate Exchange and Development
Agreement in the fonn attached as Exhibit A to this resolution, and to execute any other similar
documentation on behalf of the Town evidencing that privately owned property surrounding the
Town of Maran a District Park and Continental Ranch Library site is not encumbered by the Real
Estate Exchange and Development Agreement approved and executed pursuant to Town of
Marana Ordinance No. 2003.32.
{OOOOO570. DOC I}
- 1 -
FJC/cds 3/3/05
BE IT FURTHER RESOLVED THAT the Town's Manager and staff are hereby directed
and authorized to undertake all other and further tasks required or beneficial to carry out the
terms, obligations, and objectives of the aforementioned Partial Release.
PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN OF
MARANA, ARIZONA, this 15 day of March, 2005.
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ATTEST:
APPROVED AS TO FORM:
{OOOOO570.DOC /}
When recorded return to:
PARTIAL RELEASE OF REAL ESTATE
EXCHANGE AND DEVELOPMENT AGREEMENT
TOWN OF MARANA, an Arizona municipal corporation, ARIZONA PAVILIONS
DEVELOPMENT INe., an Arizona corporation and RANCH HOLDINGS, LLC, an Arizona
limited liability company (collectively, the "Parties") entered into a Real Estate Exchange and
Development Agreement recorded on December 19, 2003 in the Office of the Pima County
(Arizona) Recorder in Docket 12201 commencing at page 4073 (the "Agreement").
The Parties hereby release the real property legally described in Exhibit A from the
Agreement. No other real property encumbered by the Agreement is released by this instrument.
0 v< - / 1 , 2005
TOWN OF MARANA, an Arizona
municipal corporation
By ~ tt~
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Title f /Jot» f1 tlM4j~1'
RANCH HOLDINGS LLC., an Arizona
limited liability company
Approved as to Form
By ,~-f
Title ¡¡LA i){xr 7-<"(./ 1l7'!"",,- // ~
ARIZONA PAVILIONS DEVELOPMENT,
INC., an Arizona corporation
BY~
¡ltu}Yv n (r'(/ 0 if-! A,h'i '-
Title
140\12385.016\2004111617490000
ST ATE OF ARIZONA
County of Pima
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The foregoing instrument was acknowledged before me this & day of MattI¡
2005 by M I tÁIl.d,4. Ife«,IVSur as 7íùJl1 /f¡/AUA~ r of the TOWN OF
MARANA, an Arizona municipal corporation.
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My Appointment Expires 03-17-08
My Commission Expires:
AJa('f.Á /7, ø1()O~
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STATE OF C uII-J[f' !C~
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County of S;'(~",\ ,7)( "'<Ii)
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The foregoing instrument was acknowledged before me this I J day of Fr¿;rua<:/ ,
2005 by /lL(I/I" ,(~( Jl:,slbt as _Ju /1:<.>(1<'-,'(/ IM,/,.6f, of ,RAN, CH HOLDmGS
LLc., an Arizona limited lia dity company, (~. ., ... .,,' ,
1'1/[.[:,( ,L
Notary Public
My 70mmis~ion Expires:
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STATE OF Ca[ft//i/cl..
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@ CIOMARA GALEANO
Commi%ionI1368103
i' Notary, PUbl,Î,C - California ~
i San Diego County
My C'..oolm, Expi¡m Aug 5, 2000
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County of ,)0:'1 /)/.f'90
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The foregoing il1;Strum~nt was acknowledged bef~re me th,is I t- day of Ft6;-ud' ~,' ,
2005 by /:l¿/,~ Its C/I~ SS¡; i 'C) as Ad /)1iUl i ! ,-(/ ¡n/,/. ¡; è'~ of ARIZONA ,/
PAVILIONS DEVELOPMENT; INC., an Arizona corporation. (í , -
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L/ ,in r?4¿! -Z
Notary Public
My Commission Expires:
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140\12385,016\2004111617490000
No. 230-4055739
EXHIBIT" A "
PARCEL 1:
CONTINENTAL RANCH
PARCEL 56-57 (PORTION)
THAT PORTION OF THE NORTHEAST ONE-QUARTER (NW 1/4) OF SECTION 34,
TOWNSHIP 12 SOUTH, RANGE 12 EAST, GILA AND SALT RIVER MERIDIAN, PIMA
COUNTY, ARIZONA, DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 34;
THENCE SOUTH 01 DEGREES 01 MINUTES 00 SECONDS EAST, ALONG THE EAST
LINE OF THE SAID NORTHEAST QUARTER (NE 1/4), A DISTANCE OF 592.01 FEET TO
THE SOUTHEASTERLY RIGHT-OF-WAY LINE OF CORTARO ROAD;
THENCE SOUTH 33 DEGREES 30 MINUTES 07 SECONDS WEST ALONG SAID RIGHT-
OF-WAY LINE, 505.26 FEET TO THE POINT OF BEGINNING;
THENCE SOUTH 56 DEGREES 29 MINUTES 53 SECONDS EAST, 201.36 FEET TO A
POINT OF INTERSECTION WITH A NON-TANGENT CURVE, A RADIAL LINE
THROUGH SAID POINT BEARS NORTH 67 DEGREES 49 MINUTES 20 SECONDS
WEST;
THENCE SOUTHWESTERLY ALONG SAID CURVE TO THE LEFT, HAVING A RADIUS
OF 325.00 FEET, A CENTRAL ANGLE OF 07 DEGREES 28 MINUTES 40 SECONDS, FOR
AN ARC LENGTH OF 42.44 FEET TO A POINT OF TANGENCY;
THENCE SOUTH 14 DEGREES 42 MINUTES 00 SECONDS WEST, 137.81 FEET TO A
POINT OF CURVATURE OF A TANGENT CURVE CONCAVE TO THE NORTHWEST;
THENCE SOUTHWESTERLY ALONG SAID CURVE TO THE RIGHT, HAVING A
RADIUS OF 275.00 FEET, A CENTRAL ANGLE OF 04 DEGREES 21 MINUTES 35
SECONDS, FOR AN ARC LENGTH OF 20.93 FEET TO A POINT OF INTERSECTION
WITH THE EASTERLY LINE OF A PARCEL RECORDED IN DOCKET 11096, PAGE 770;
THENCE NORTH 56 DEGREES 29 MINUTES 53 SECONDS WEST, ALONG SAID LINE A
DISTANCE OF 262.77 FEET TO THE MOST NORTHERLY CORNER THEREOF; SAID
CORNER BEING ON THE SOUTHEASTERLY RIGHT -OF- WAY LINE OF CORT ARO
ROAD;
THENCE NORTH 33 DEGREES 30 MINUTES 07 SECONDS EAST, ALONG SAID RIGHT-
OF-WAY LINE, A DISTANCE OF 191.43 FEET TO THE POINT OF BEGINNING.
No. 230-4055739
PARCEL 2:
NON-EXCLUSIVE CROSS-EASEMENT OF INGRESS AND EGRESS OF VEHICULAR
AND PEDESTRIAN TRAFFIC, FOR THE PURPOSE OF ACCESS TO SIL VERB ELL ROAD
AND CORTARO ROAD, OVER DESIGNATED AREAS, AS SET FORTH IN THE
RECIPROCAL ACCESS AGREEMENT RECORDED IN DOCKET 10930, PAGE 3074.