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Home My WebLink AboutC-3090(F) - Harbor Island, 829 - MOL 2020 - "Balboa Yacht Basin Office"Batch 5888185 Confirmation Page 1 of 2 Memorandum of Lease RECORDING REQUESTED AND WHEN RECORDED RETURN TO: City Clerk's Office City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder II I I II III II I II IIII III III 111 NO FEE *$ R 0 0 1 1 4 7 6 4 9 5$* 2020000057942 12:08 pm 02/11/20 65 Se c4A M 11 8 0.00 0.00 0.00 0.00 21.00 0.00 0.000.000.00 0.00 [Exempt from Recordation Fee - Govt. Code Sec.0 .7'3 8' 3 MEMORANDUM OF LEASE AGREEMENT This Memorandum of Lease Agreement ("Memorandum") is datedfit90 In , 2020, and is made between City of Newport Beach, a California municipal cor ration and charter city ("City") and West Point Investment Corporation, a Califomia corporation ("Tenant"), concerning the Property and Premises as legally described and depicted in Attachment "A" attached hereto and by this reference made a part hereof. For good and adequate consideration, City leases the Premises to Tenant, and Tenant leases the Premises from City, for the term and on the provisions contained in the Agreement dated 10 , 2020, including without limitation provisions prohibiting assignment, subleasing, nd encumbering said leasehold without the express written consent of City in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The term is five (5) years, beginning t43 , 2020, and endingfdaYl& �w- t0 , 2025, and one (1) elective additional successive Term" of five (5) years, on the same terms and conditions contained in the Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts of the Agreement shall control. Execution hereof constitutes execution of the Agreement itself. [SIGNATURES ON NEXT PAGE] West Point Investment Corporation Page 1 https://gs.secure-recording.com/Batch/Confirmation/5888185 02/11/2020 Batch 5888185 Confirmation Page 2 of 2 IN WITNESS WHEREOF, the Parties hereto have executed this Memorandum as of the date first written above. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: 2 7/,-o By: Aaron C. Harp City Attorney ATTEST: Date: 0Z./0.A0 By: 0614 Leilani I. Brown City Clerk CITY OF NEWPORT BEACH, a California municipal corporation Date: -/0 - a.0 at) By: Grace ung City M ger TENANT: WEST POINT INVESTMENT CORPORATION, a California corporation Date: dS 202o By: Kevi ohn Hayes Chief Executive Officer/ Chief Financial Officer [END OF SIGNATURES] ATTACHMENTS: Attachment A — Legal Description and Depictions of Property and Premises West Point Investment Corporation Page 2 https://gs.secure-recording.com/Batch/Confirmation/5888185 02/11 /2020 Memorandum of Lease RECORDING REQUESTED AND WHEN RECORDED RETURN TO: City Clerk's Office City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 [Exempt from Recordation Fee - Govt. Code Sec. ys' MEMORANDUM OF LEASE AGREEMENT This Memorandum of Lease Agreement ("Memorandum") is dated 1O , 2020, and is made between City of Newport Beach, a California municipal cor oration and charter city ("City") and West Point Investment Corporation, a California corporation ("Tenant"), concerning the Property and Premises as legally described and depicted in Attachment "A" attached hereto and by this reference made a part hereof. For good and adequate consideration, City leases the Premises to Tenant, and Tenant leases the Premises from City, for the term and on the provisions contained in the Agreement dated- to , 2020, including without limitation provisions prohibiting assignment, subleasing, nd encumbering said leasehold without the express written consent of City in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The term is five (5) years, beginningfu o,.v1...1-0 , 2020, and endingtAiy j - l0 , 2025, and one (1) elective additional successive `Option Term" of five (5) years, on the same terms and conditions contained in the Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts of the Agreement shall control. Execution hereof constitutes execution of the Agreement itself. [SIGNATURES ON NEXT PAGE] West Point Investment Corporation Page 1 IN WITNESS WHEREOF, the Parties hereto have executed this Memorandum as of the date first written above. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: N7/i:0 By: Aaron C. Harp City Attorney ATTEST: Date: Z /0 2O By: Oglitbs Leilani I. Brown City Clerk CITY OF NEWPORT BEACH, a California municipal corporation Date: cg. -lO ' U at By: �L Grace ung City M ger TENANT: WEST POINT INVESTMENT CORPORATIO , a California corporation Date: /5 /t...,, 202o By: Keviv ohn Hayes Chief Executive Officer/ Chief Financial Officer [END OF SIGNATURES] ATTACHMENTS: Attachment A — Legal Description and Depictions of Property and Premises West Point Investment Corporation Page 2 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of ORtWtoe. } ss. On JRNvwft-1 IS , 20 .2-0 before me, JENNiFele, ANN (l Lve-1 Notary Public, personally appeared eevt *1 JoWtI I4A-I ES who proved to me on the basis of satisfactory evidence to be the person(s-) whose name(s4 is/are subscribed to the within instrument and acknowledged to me that he/re'fthey executed the same in his/hert'their authorized capacity(ies), and that by his/heir signatures°(s) on the instrument the person(,), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITN Sign y hanand official seal. • Jennifer Ann Mulvey! 1` ,.,; _ COMM #2214138 > wF. •: Notary Public - California z ¢ a `' %/� ORANGE COUNTY f iali •' My Commission Expires ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of (MAN be } ss. On ESRVA0-4 10 , 20 ZO before me, JENNiFe& ANN I'Vlvk..vE-1 Notary Public, personally appeared &RALE K • (Eu Nita proved to me on the basis of satisfactory evidence to be the person(,) -whose namefs) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in laisiher/41creir authorized capacity(ies), and that by his/her/their signatures{s) on the instrument the person(s)-, or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITN �j y hand an : official seal. Si: "ture Jennifer Ann Mulvey; �.,.w,a•, COMM #2214138 a La f!la ;' Notary Public - California ` rah N .7 ORANGE COUNTY � ••.«t«v� MyCommi••�siinExpires Oct.12,2021 (seal) West Point Investment Corporation Page 3 ATTACHMENT A PROPERTY AND PREMISES DESCRIPTION AND DEPICTIONS A parcel of land situated in the Northwest quarter (NW 1/4) of Section Thirty Five (35), Township Six (6) South, Range Ten (10) West, S.B.B.& M., Orange County, California, more particularly described as follows, to -wit: Beginning at a point in the U.S. Bulkhead line between Station No. 200 and Station No. 101 as shown upon a map entitled "Harbor Lines, Newport Bay Harbor, California," approved May 2, 1936, by the Secretary of War, and on file in the office of the U.S. District Engineer at Los Angeles, California, said point of beginning being East 754.25 feet of said bulkhead Station No. 200, running thence North 424.71 feet to a point in the Northerly line of that certain parcel of land conveyed to City of Newport Beach by the Irvine Company, as described in a deed recorded September 25, 1929, in Book 306, Page 375, of official records of Orange County, California; thence South 85° 43' East 772.15 feet to the Northeasterly corner of the last mentioned parcel of land; thence South along the Easterly line of the last mentioned parcel of land 367.01 feet to a point in said U.S. Bulkhead line between Station No. 200 and Station No. 101, thence West along said bulkhead line 770 feet to the point of beginning, containing approximately seven (7) acres. Page 1 West Point Investment Corporation Page 4 Now port Beat 0 4,45d Feet 0,912 OisoI1rni Erymarong410 ORA a0 aide lYS*49ufe toe accuracy al' tut data vowing, remetroar, The ty Ngwpgr. 8030 and Its emplo,ses arci we4E. diatharn any Imaponsitidity 'rum ar ralatrg to any results ottlatuad In Ile 0% Innagnry: 2CCIE‘20-1 1 pholna prmidad by Eagle Itrugirs wrow.attgletaarialrorn 1 LW4113 Page 2 West Point Investment Corporation Page 5 mar '4 i!`illtt 1t3 a No LP ��a 4u ladd{Rr�I ..w 1, �Ck�_nra enr Newport Beach GIS 0 O 417 833 Feet Disclaimer: Every reasonable effort has been made to assure the accuracy of the data provded, however. The City of Newport Beach and its employees and agents disclaim auvy and all responsibility from or relating to any results obta rt c in its use. Imagery: 200g-2013 photos provided by Eagle Imaging tirww.eagIeaeriatccm 41122]16 Page 3 West Point Investment Corporation Page 6 101 .44 jj'1, 4.4 1,erf r Le BEACON BAY II 41 12 Non-exclusive, non-designatecl parking at tile Property / 7_4 44' 4,_ - / qr . 7 A Newport Beach GIS owp, 0 0 200 400 Feet ... 1 I f i 1 a 4 I I 7 2 4 I • " fg; 1 .1- — - 254 14143 ',FRU.. 1,, 2 444 135 I I I Disclaimer: Every reasonable effort has been made to assure the accuracy of the data provbeci, however. The City of Newport Beach and As employees and agents disclaim any and al responsbility from or relating to any results obtained in its use Imagery: 2009-2013 photos provided by Eagle Imaging vnenv.eagleaerial.com 111E016 Page 4 West Point Investment Corporation Page 7 Office SCALE: 1 /2" = 1 tv GfA?F+ec scxe 829 Harbor Island Drive Newport Beach, CA SHEET S12E 11x17 1614 ■ 1 WorkSpacePlans kitmrernorlopeceptietaxotn jig52workspacepreneeom Page 5 West Point Investment Corporation Page 8