MARBELLA RANCH ASSURANCE AGREEMENT.PDF

When recorded, return to:
ASSURANCE AGREEMENT
This Agreement is made on , 2019, by and between MARICOPA
COUNTY, a political subdivision of the State of Arizona, (hereinafter "County"); and Marbella
Ranch Limited Partnership, a Delaware limited partnership, with an address of 18835 N.
Thompson Peak Parkway, Suite 215, Scottsdale, AZ 85255 (hereinafter "Developer"). The term
"Developer" as used herein shall include Developer and any and all successors in title to the
Property.
Whereas, Developer is the owner of certain real property full described in Exhibit A
attached hereto and made a part hereto (herein referred to as "Property"); and
Whereas, Developer has applied to the County pursuant to A.R.S. §11-821 et seq. to
subdivide the Property for single family residential development; and
Whereas, A.R.S. §11-821(C) provides: "The regulations shall require the posting of
performance bonds, assurances or such other security as may be appropriate and necessary to
ensure the installation of required street, sewer, electric and water utilities, drainage, flood control
and improvements meeting established minimum standards of design and construction;" and
Whereas, A.R.S. §11-822(A) provides: "No plat of a subdivision of land within the area of
jurisdiction of the County shall be accepted for recording or recorded until it has been approved
by the Board. The approval of the Board shall be endorsed in writing on the plat and shall also
include specific identification and approval of the assurances;" and
Whereas, development of the Property will require internal infrastructure necessary to
serve the subdivision, and infrastructure for improvements that are located along the perimeter or
outside the boundaries of the Property, including a traffic signal at the intersection of the Collector
Rd. and El Mirage Rd. ("Signal Plans").
Whereas, Developer has requested that, to satisfy the statutory requirement for providing
an assurance to ensure the design and installation of required improvements, that the County enter
into an agreement with Developer that no building permits for the construction of homes for sale
to third parties shall be issued in connection with the Property unless and until such time as all
required onsite improvements that meet the minimum standards of design and construction
established by the County pursuant to plans and specifications that have been approved by the
County (i) have been installed at no cost or expense to the County and (ii) have been inspected by
the County, which has been satisfied with such installation pursuant to guidelines adopted by the
County; and

Whereas, any such agreement entered into between the parties shall be deemed to be a
"Building Permit Hold;" and
Whereas, the County is agreeable to entering into such a Building Permit Hold to serve as
the statutorily required assurance of performance provided all of the terms of such Agreement are
satisfied.
NOW THEREFORE, in consideration of the mutual promises contained herein and other
good and valuable consideration, the parties agree as follows:
1. The above recitals are incorporated herein as if fully reproduced at length.
2. No building permit shall be issued to allow construction on or in connection with the Property
except:
a. Building permits for the installation and completion of all required infrastructure for
the project pursuant to plans approved by any and all applicable agencies.
b. Not more than eight (8) building permits issued by the County in accordance with
applicable building codes for model homes, each home to be located on specific lots
approved by the County and be part of a "model home complex". No issued building
permit shall include the right to occupy any model home for any purpose other than to
demonstrate the style of home available to purchasers within the project; provided that
the garage and kitchen areas of one such home per model complex, as designated by
Developer, may be used for the purpose of conducting sales of homes to prospective
third party purchasers.
3. No building permit of any kind shall be issued unless and until this Agreement has been
recorded in the office of the Maiicopa County Recorder. Upon completion of the infrastructure
which this Agreement assures or other proper termination of this Agreement, the County shall
execute an appropriate document presented to it by Developer for recording to provide notice that
this Agreement has terminated.
4. In the event the County Board of Supervisors shall not approve the subdivision plat for the
Property, this Agreement shall be deemed to be terminated properly and of no force or effect.
5. From and after the date that the subdivision plat has been recorded in the office of the
Maricopa County Recorder and the first building permit for the required subdivision infrastructure
has been issued, Developer shall, at all times during the pendency of this Agreement, maintain a
valid, active building permit for construction of any and all required subdivision infrastructure
which has not been completed and approved by the appropriate agency.
6. Should Developer breach this Agreement, any and all building permits that have been
issued for the Property shall immediately cease to be valid unless and until a financial assurance,
in form and amount satisfactory to the County, has been provided to and accepted by the County.
7. This Agreement shall not be deemed to be satisfied unless and until all infrastructure
building permits issued for the Property have been completed and all required or acceptable
substitute warranty assurances have been provided.
2

8. This Agreement may be terminated by Developer providing substituted assurances as
required by ordinances and regulations of Maricopa County as a substitute for this Agreement.
Any financial assurance shall be based upon one hundred twenty percent (120%) of a County
approved cost estimate, as prepared by a civil engineer licensed in the State of Arizona, for the
remaining improvements at the time of termination. Said estimate shall be based on current unit
costs for the various remaining work items.
9. This Building Permit Hold shall remain in full force and effect until financial assurances
acceptable to the County are provided for all infrastructure improvements required to service the
subdivision and infrastructure located along the perimeter or outside the boundaries of the
Property, including the Traffic Signal.
10. Nothing contained in this Agreement shall be construed as obviating the necessity of
Developer providing fmancial warranty assurances for any improvements pursuant to applicable
County ordinances, resolutions or rules.
11. This Agreement may be cancelled by the County pursuant to the terms of A.R.S. § 38-511.
12. All notices, and communications to be given under this Agreement shall be in writing and
shall be deemed to have been duly given if delivered personally (in which case the date of delivery
would the actual date), if mailed first-class, postage prepaid, or certified mail (in which case the
date of delivery would be three (3) days from the date of mailing), or if sent by telegram, telex,
facsimile, telecommunication or other similar form of communication (in which case the date of
delivery would be the date of receipt confirmation), as follows, or as otherwise provided by notice
to the other party:
If to County:
Maricopa County Planning and Development Department
501 N. 44th Street
Phoenix AZ
Attention: Director
If to Developer:
Marbella Ranch Limited Partnership
18835 N. Thompson Peak Parkway, Suite 215
Scottsdale, AZ 85255
Attn: Brian Hegardt
3

And to:
KB Home Phoenix Inc.
10429 S. 51st St., Suite 100
Phoenix, AZ 85044
Attn: Roman Gorecki and Jarmelle Speake
And to:
Lennar Arizona, Inc.
1665 W Alameda Dr., Suite 130
Tempe, Arizona 85282
Attn: Jeff Gunderson and Erik Molina
13. This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the
parties to this Agreement and their respective successors and assigns. This Agreement shall run
with and be an encumbrance upon the Property.
14. This Agreement, including all Exhibits, constitutes the entire agreement and understanding
between the parties relating to the provision of assurances required by statute and supersedes all
prior representations, communications and arrangements, whether oral, written or inferred,
between the parties relating to that subject matter. This Agreement shall not be amended or
modified except by a writing duly executed by Developer and the County. The waiver of any
breach of any term or condition of this Agreement shall not be deemed to constitute the waiver of
any other breach of the same or any other term or condition.
15. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions of this Agreement, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.
16. This Agreement may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.
17. Developer shall provide to the County, satisfactory evidence that the person executing this
Agreement for Developer has been authorized to do so.
Dated as of the day and year first above written.
II
2355.408.1610745.2 4

[Signature page to Assurance Agreement]
Developer:
Marbella Ranch Limited Partnership,
a Delaware limited partnership
By: TRS Marbella Ranch Management, LLC, an
Arizona limited liability company, its General
Partner
By: Hegardt Investments, LLC, an Arizona
limited liability company, its Manager
STA 1E, OF ARIZONA
) ss.
County of Maricopa
This instrument was acknowledged before me this /V day of -7/10 uermilPvc_ , 2019 by Brian Hegardt, the
Manager of Hegardt Investments, LLC, an Arizona limited liability company, as the Manager of TRS Marbella
Ranch Management, LLC, an Arizona limited liability company, as a General Partner of Marbella Ranch
Limited Partnership, a Delaware limited partnership, on behalf of the limited partiership.
-
Notary Pu
My commission expires: /
RENAE OFFICIAL LINDLEY SEAL
Notary Public - Arizona
Commission MARICOPA COUNTY #552558
I M.y_Commisel4ion_Ex_pire:
AUGUST 1 2022
5

[Continuation signature page to Assurance Agreement]
COUNTY:
MARICOPA COUNTY BOARD OF SUPERVISORS
By:
Name:
Title:
ATTEST:
Date:
Clerk of the Board of Supervisors
Approved as to form and content:
Date: 7,-(e••
Deputy County Attorney
6

EXHIBIT A
(Legal Description of the Property)
[See attached]

EXHIBIT 'A'
Legal Description
MARBELLA RANCH 5
Job No. 16-364 April 8, 2019
A portion of the northeast quarter of Section 2, Township 2 North, Range 1 West
of the Gila and Salt River Meridian, described as follows:
COMMENCING at a brass cap in handhole at the northeast corner of said Section
2, from which a brass cap in handhole at the east quarter-corner of said Section
2 bears South 1 degrees 22 minutes 42 seconds East, 2637.24 feet;
thence along the east line of said northeast quarter, South 1 degrees 22 minutes 42
seconds East, 1308.75 feet to the POINT OF BEGINNING;
thence continuing along said east line, South 1 degrees 22 minutes 42 seconds East,
1308.46 feet;
thence North 89 degrees 05 minutes 18 seconds West, 1602.76 feet;
thence North 0 degrees 54 minutes 42 seconds East, 221.83 feet;
thence North 89 degrees 05 minutes 18 seconds West, 38.59 feet;
thence North 0 degrees 54 minutes 42 seconds East, 363.17 feet;
thence South 89 degrees 05 minutes 18 seconds East, 115.00 feet;
thence North 0 degrees 54 minutes 42 seconds East, 114.44 feet to the beginning of
a curve, concave Southeast, having a radius of 625.00 feet;
thence Northeasterly 483.99 feet along the arc of said curve to the right through a
central angle of 44 degrees 22 minutes 08 seconds;
thence North 45 degrees 16 minutes 50 seconds East, 11.91 feet;
thence North 45 degrees 16 minutes 50 seconds East, 244.73 feet to the beginning
of a curve, concave Westerly, having a radius of 60.00 feet;
thence Northerly 94.25 feet along the arc of said curve to the left through a central
angle of 90 degrees 00 minutes 00 seconds;
thence North 44 degrees 43 minutes 10 seconds West, 65.15 feet to the beginning
of a curve, concave Northeast, having a radius of 580.00 feet;

EXHIBIT 'A'
thence Northwesterly 461.49 feet along the arc of said curve to the right through a
central angle of 45 degrees 35 minutes 20 seconds;
thence North 0 degrees 52 minutes 10 seconds East, 309.66 feet to the beginning of
a curve, concave Southwest, having a radius of 20.00 feet;
thence Northwesterly 31.42 feet along the arc of said curve to the left through a
central angle of 90 degrees 00 minutes 00 seconds;
thence South 89 degrees 07 minutes 50 seconds East, 100.00 feet to the beginning
of a curve, concave Southeast, having a radius of 20.00 feet;
thence Southwesterly 31.42 feet along the arc of said curve to the left through a
central angle of 90 degrees 00 minutes 00 seconds;
thence South 0 degrees 52 minutes 10 seconds West, 309.66 feet to the beginning
of a curve, concave Northeast, having a radius of 520.00 feet;
thence Southeasterly 413.75 feet along the arc of said curve to the left through a
central angle of 45 degrees 35 minutes 20 seconds;
thence South 44 degrees 43 minutes 10 seconds East, 70.78 feet to the beginning
of a curve, concave Northeast, having a radius of 60.00 feet;
thence Southeasterly 43.36 feet along the arc of said curve to the left through a
central angle of 41 degrees 24 minutes 35 seconds to a point of reverse curvature of
a curve having a radius of 60.00 feet;
thence Southeasterly 82.59 feet along the arc of said curve to the right through a
central angle of 78 degrees 51 minutes 55 seconds to a point of reverse curvature of
a curve having a radius of 60.00 feet;
thence Southeasterly 47.86 feet along the arc of said curve to the left through a
central angle of 45 degrees 41 minutes 56 seconds to a point of compound curvature
of a curve having a radius of 569.00 feet;
thence Southeasterly 358.76 feet along the arc of said curve to the left through a
central angle of 36 degrees 07 minutes 32 seconds;
thence South 89 degrees 05 minutes 18 seconds East, 529.06 feet to the beginning
of a curve, concave Northwest, having a radius of 20.00 feet;
thence Northeasterly 32.22 feet along the arc of said curve to the left through a
central angle of 92 degrees 17 minutes 26 seconds;
thence North 1 degrees 22 minutes 44 seconds West, 60.43 feet;

EXHIBIT 'A'
thence South 89 degrees 16 minutes 55 seconds East, 70.09 feet to the POINT OF
BEGINNING.
Contains 44.9368 acres, more or less.

NORTH QUARTER—CORNER EXHIBIT "A" POINT OF COMMENCEMENT
SECTION 2, T2N, R1W NORTHEAST QUARTER —CORNER
FOUND BRASS CAP FLUSH SECTION 2, T2N, R1W
FOUND BRASS CAP IN HANDHOLE
N89.07'48N1 2638.55'
NORTHERN PARKWAY
L11
C4—'TN' —05
-J
L13
L'1 2 n C7
0(5) C9 L16
L9 L15
C2 Cio L14
POINT
OF
C11 BEGINNING
MARBELLA RANCH 5
L4
L2
\ CENTER QUARTER —CORNER EAST QUARTER—CORNER
SECTION 2, 12N, R1W SECTION 2, T2N, R1W
NOT FOUND FOUND BRASS CAP IN HANDHOLE
500 0 500 1000 1 OF 2
scale feet www.epsgroupinc.corn
EXHIBIT EPS
cn `0
MARBELLA RANCH 5

f ,
EXHIBIT "A"
CURVE TABLE
CURVE LENGTH RADIUS DELTA TANGENT CHORD CHORD BRG
Cl 483.99' 625.00' 4422'08" 254.86' 471.99' N2305'46"E
C2 94.25' 60.00' 90'00'00" 60.00' 84.85' NO016'50"E
C3 461.49' 580.00' 45'35'20" 243.74' 449.42' N21'55'30"W
C4 31.42' 20.00' 90'00'00" 20.00' 28.28' N44'07'50"W
C5 31.42' 20.00' 90'00'00" 20.00' 28.28' 54552'10"W
C6 413.75' 520.00' 4535'20" 218.53' 402.92' S21'55'30"E
C7 43.36' 60.00' 41'24'35" 22.68' 42.43' S6525'28"E
C8 82.59' 60.00' 7851'55" 49.34' 76.22' 546'41'47"E
C9 47.86' 60.00' 45'41'56" 25.28' 46.60' 530'06'48"E
C10 358.76' 569.00' 36'07'32" 185.57' 352.85' S71'01'32"E
C11 32.22' 20.00' 9217'26" 20.82' 28.84' N4445'59"E
LINE TABLE LINE TABLE
LINE BEARING LENGTH LINE BEARING LENGTH
L1 SO1'22'42"E 1308.46' L9 N44'4310"W 65.15'
L2 N8905'18"W 1602.76' L10 N00'52'10"E 309.66'
L3 N00'54'42"E 221.83' L11 S8907'50"E 100.00'
L4 N89'05'18"W 38.59' L12 S00'52'10"W 309.66'
L5 N00'54'42"E 363.17' L13 54443'10"E 70.78'
L5 58905/ 8"E 115.00' L14 589'05'18"E 529.06'
L6 N00'54'42"E 114.44' L15 N0122'44"W 60.43'
L7 N4516'50"E 11.91' L16 38916'55"E 70.09'
L8 N4516'50"E 244.73' 2 OF 2
www.epsgroupinc.corn
EXHIBIT
4 EPS
MARBELLA RANCH 5 r GROUP

EXHIBIT 'A'
Legal Description
MARBELLA RANCH 6
Job No. 16-364 April 11, 2019
A portion of the northeast quarter of Section 2, Township 2 North, Range 1 West
of the Gila and Salt River Meridian, described as follows:
COMMENCING at a brass cap in handhole at the northeast corner of said Section
2, from which a brass cap in handhole at the east quarter-corner of said Section
2 bears South 1 degrees 22 minutes 42 seconds East, 2637.24 feet;
thence along the east line of said northeast quarter, South 1 degrees 22 minutes
42 seconds East, 1419.59 feet;
thence South 88 degrees 37 minutes 18 seconds West, 1292.99 feet to the POINT
OF BEGINNING;
thence South 45 degrees 16 minutes 50 seconds West, 11.91 feet to the
beginning of a curve, concave Southeast, having a radius of 625.00 feet;
thence Southwesterly 483.99 feet along the arc of said curve to the left through
a central angle of 44 degrees 22 minutes 08 seconds;
thence South 0 degrees 54 minutes 42 seconds West, 114.44 feet;
thence North 89 degrees 05 minutes 18 seconds West, 115.00 feet;
thence South 0 degrees 54 minutes 42 seconds West, 363.17 feet;
thence South 89 degrees 05 minutes 18 seconds East, 38.59 feet;
thence South 0 degrees 54 minutes 42 seconds West, 221.83 feet;
thence North 89 degrees 05 minutes 18 seconds West, 910.00 feet;
thence North 0 degrees 54 minutes 42 seconds East, 138.58 feet to the beginning
of a non-tangent curve, concave Northeast, from which the radius point bears
North 36 degrees 12 minutes 44 seconds East a distance of 63.00 feet;
thence Northwesterly 79.67 feet along the arc of said curve to the right through
a central angle of 72 degrees 27 minutes 08 seconds to a point of reverse
curvature of a curve having a radius of 42.00 feet;

EXHIBIT 'A'
thence Northeasterly 13.01 feet along the arc of said curve to the left through a
central angle of 17 degrees 45 minutes 10 seconds;
thence North 0 degrees 54 minutes 42 seconds East, 165.97 feet to the beginning
of a curve, concave Southwest, having a radius of 42.00 feet;
thence Northwesterly 13.01 feet along the arc of said curve to the left through a
central angle of 17 degrees 45 minutes 10 seconds to a point of reverse curvature
of a curve having a radius of 63.00 feet;
thence Northeasterly 88.63 feet along the arc of said curve to the right through
a central angle of 80 degrees 36 minutes 23 seconds to the beginning of a non-
tangent curve, concave Northwest, from which the radius point bears North 68
degrees 43 minutes 29 seconds West a distance of 1340.00 feet;
thence Northeasterly 539.96 feet along the arc of said curve to the left through a
central angle of 23 degrees 05 minutes 15 seconds;
thence North 1 degrees 48 minutes 44 seconds West, 139.13 feet;
thence South 89 degrees 05 minutes 18 seconds East, 1089.67 feet to the POINT
OF BEGINNING.
Contains 24.2423 acres, more or less.

NORTH QUARTER-CORNER EXHIBIT "A" POINT OF COMMENCEMENT
SECTION 2, T2N, R1W NORTHEAST CORNER
FOUND BRASS CAP FLUSH SECTION 2, T2N, R1W
FOUND BRASS CAP IN HANDHOLE
N89'07'48 1'W 2638.55'
NORTHERN PARKWAY
7.41-
I r(Zi
N
POINT OF
BEGINNING
S89'05'18”E 1089.67' 1 S88'37'18''W
1292.99'
Li
L3-
MARBELLA
RANCH 6
C5
EAST QUARTER-CORNER
C2 SECTION 2, T2N, R1W
L.4...]Lr) FOUND BRASS CAP IN HANDHOLE
N89'05'18''W 910.00'-
CENTER QUARTER-CORNER
SECTION 2, T2N, R1W
NOT FOUND
500 0 500 1000 1 OF 2
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EXHIBIT
4r EPS
MARBELLA RANCH 6 GEOV