The City Standard Storm Water Facilities Maintenance Agreement with Access Rights and Covenants (SWFMA) is a recorded agreement for the maintenance and repair of storm water management facilities, entered into between the Owner and the City of Oceanside. The Agreement binds the Owner, the Successors and runs with the property.
The SWFMA provides the City with access rights for the purpose inspection of annual inspections, as required by the Municipal Permit and to possibly perform BMP maintenance, should the owner default.
The SWFMA includes a non-refundable security to assure faithful performance of the obligations of the agreement. The security is based upon a Storm Water Facilities BMP Maintenance Estimate prepared by a Registered Civil Engineer. The security amount is based upon annual BMP maintenance costs multiplied by a factor of ten (10); not to exceed $25,000.00.
There is no mechanism to release the SWFMA security. An Owner conveying interest in the property to another party should consider recovering the capital associated with the non-refundable security as part of negotiating the transaction.