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HomeMy WebLinkAboutH-2b - Proposed Easement to Southern California Edsion Company at Balboa Bay Clubr 0 FEB 12 1973 By the CITY COUNCIL CITY 410 HOW0904 4FACH TO: CITY COUNCIL FROM: Public Works Department A February 12, 1973 CITY COUNCIL AGENDA ITEM NO. H -2(b) SUBJECT: PROPOSED EASEMENT TO SOUTHERN CALIFORNIA EDISON COMPANY AT BALBOA BAY CLUB. RECOMMENDATION: Adopt a resolution authorizing the Mayor and City Clerk to execute a grant of easement to provide electrical power to a new building now under construction at the Balboa Bay Club, 1221 West Coast Highway. DISCUSSION: Attached is a letter to the Public Works Department from Mr. John Stockwell, Jr., Division Manager, Real Estate and Development, Balboa Bay Club, requesting the City to grant the subject easement. Attached also is a City. drawing, No. R /W- 5266 -L, showing the location of the proposed easement. The proposed easement is 10 feet in width and 38 feet in length. Att. (2) ]in )irector ► 1221 WEST,COAST HIGHWAY • NEWPORT BEACH, CALIF. 92850 January 18, 1973 Mr. Jos. Devlin, Director Department of Public Works City of Newport Beach 3300 Newport Boulevard Newport Beach, CA 92660 ,i71i4) . 645 6002 „1 Mr. Devlin, the Balboa Bay Club respectfully requests that the City of Newport Beach grant Southern California Edison Co, any_+. easement to provide primary underground electrical power to the new guest facility presently under construction at 1221 West Coast Highway, Newport Beach. '' �ILUVoI -T CKy�. Southern California "son Co, requires this easement as they will install ; 12 KY/ line to the building transformer. The pro- posed easement is located near the main entrance to the club and crosses the private service road to the new building (see attached plan). We are enclosing two Grant of Easement documents and would appreciate your recommending that the Newport Beach City Council grant said easement at its earliest opportunity as we are trying to complete the project as quickly as possible. Sincexei'S, hwell, Jr., Division Manager Real Estate &.Development JS: pb Enclosures cc: Mr. W. D. Ray C(IT` JAN 2 ,519 .73 *11. 1y 1!..' '!F A ,o o' \ • �4 ELECTiF' /C,4L L ©r /7/ 13. 13. C. o G,•Q 839/ a U CITY OF NEWPORT BEACH PUBLIC WORKS DEPARTMENT EL �G T.e /CQ L E.4 SE/19F/V T by /TH /N .4 .o0.?T /0N OF LOT / 7/ OF /QY /NE $ SU.B. 114643 I 1 4� t J- 2 0 \�L A DRAWN 4. LEE DATE 7- Z4 - 7-7 APPROVED a55'T. PUBLIC WORKS DIREC7DR R.E. NO. Lz o6 DRAWING NO. /Q1,W 5Z6 6 —1- M M RESOLUTION NO. 7 9 2 9 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AUTHORIZING THE EXECUTION OF A GRANT OF EASEMENT TO THE SOUTHERN CALI- FORNIA EDISON COMPANY TO ENABLE.THEM TO PROVIDE ELECTRICAL POWER TO THE BUILDING UNDER CONSTRUC- TION AT THE BALBOA BAY CLUB LEASEHOLD PROPERTY WHEREAS, the Balboa Bay Club is presently building a new guest facility on the property leased to them by the City; and WHEREAS, said facility will require electrical power; and WHEREAS, in order for the.Southern California Edison Company to install the necessary equipment to provide electri- cal power, it is necessary that an easement be granted to it by.the City for that purpose. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport Beach that the Mayor and City Clerk are hereby authorized and directed to execute a grant of easement . conveying to the Southern California Edison Company an easement over certain real property in the City of Newport Beach,-for the purpose of installing an electrical line to provide electricity to the new facility at the Balboa Bay Club lease- hold property, said property being described as follows: A strip of land, 10 feet in width, lying within a portion of Lot 171, of Irvine's Subdivision, as shown on map recorded in Book 1, page 88 of Miscellaneous Maps, in the office of the Recorder of Orange County; the centerline of said strip being described as follows: Commencing at the intersection of the northwesterly line of Tract No. 1140, as shown on map recorded in Book 36, page 28 of Miscellaneous Maps, records of said County, and the southerly line.of Coast Highway, 100 feet wide as now established; thence, westerly along said, southerly line, 418 feet to the TRUE POINT OF BEGINNING; thence, southerly at right angles from said southerly line, a distance of 38 feet. ADOPTED this 12th day of February 1973. Mayor ATTEST: !+4+Y t M>4 3.Ih �4M N .11;1,1 Much 7, 1973 i�' "7 i !9 ; 1�1... •" � i i � ir. 1:7111.. i Attached are two signed and notarized "Consent to Assigmsrrt for Leasehold Estate by Deeds of Th st and/or by Sale lease- Back," for trermmittal to the Balboa Bay Club for execution by the Club and by Fidelity Mortgage Investors and return a fully executed copy to my offios. Laurs Legios city clerk LL:swk enc. Feebruary 16, 1973 0' Keefe, Peeebt t G' -Aepp Suite 400 2323 North Broa&W Santa Ana, CA 92706 Attenticn- Mr. Thaaas J. O'Keefe Subject: Approval of Fidelity Mortgage investors as a Secured Lender on Balboa Bay Club Property Enclosed is a copy of Resolution No. 7927 which is a resolution of the City of Report Beads ap� of Fidelity Mortgage Investors as a secured lender on Balboa Bay Club Leesseahold property. this resolution was adopted by the City Ommil at its meeting on February 12, 1973. Laura Lagtos, C.M.C. City Clerk LL:swk am. cc: City Atto¢say CONSENT TO ASSIGN';ENT OF LEASEHOLD ESTATE BY DEEDS OF TRUST PVD /OR BY SALE LEASE -BACK Reference is hereby made to that certain lease dated March 24, 1948, as amended April 10, 1950, September 29, 1952, and March 28, 1960, wherein the CITY OF NE;PORT BEACH, a municipal corporation, is the lessor (the "LESSOR "), and BALBOA BAY CLUB, INC., a Cali- fornia corporation, is the lessee (the "LESSEE ") covering anti af- fecting certain real property situated in the City of Newport Beach, County of Orange, State of California, which property is,more parti- cularly described in said lease, as amended (said lease, as amended, is hereinafter referred to as the "Main Lease "). BALBOA BAY CLUB, INC. proposes to further hypothecate that por- tion of the leasehold estate created by the Main Lease, -which estate is described on the attached Exhibit "A" by an all- inclusive deed of trust and note in the sum of Four Million ,Five Hundred Ninety -four Thousand Dollars ($4,594,000.00) dated February 26, 1973, in favor of Fidelity Mortgage Investors, payable with interest and upon the terms and conditions described therein, which all - inclusive deed of trust is to be recorded concurrently herewith; and which all- inclusive deed of . trust is inclusive of an underlying indebtedness of Two Million One Hundred Forty -five Thousand Three Hundred Dollars ($2,145,300.00) being the balance due under an obligation in the original amount of Tiro Million Five Hundred Thousand Dollars ($2,500,000.00) repre- sented by a note and deed of trust dated July. 26, 1967 in favor of Equitable Savings and Loan Association (now Great Western Savings and Loan Association), and recorded on August 15, 1967 in boot: 8341, page 169 in the official records of.,the Orange County Re- . corder`s office. The CITY OF NEWPORT BEACH, as,Lessor, hereby consents to the financing documents and transactions described hereinabove upon the condition that the same is given and accepted subject to the fol..lov.i.ng covenants and conditions, to -wit: (a) That excent as herein otherwise provided, the fi- nancing documents and all rights now or hereafter ac- quired thereunder, are, and shall be subject to each and all of the covenants, conditions and restrictions set forth in the Main Lease, and to all rights and . interests of the Lessor therein, none of which are or shall be waived by this consent; (b) That should there be a conflict between the-pro- visions of the :lain Lease and the provisions of the financing documents, the former shall control; (c) That if the leasehold estate of the Lessee which is the subject of the financing documents shall be foreclosed or otherwise acquired under the terns of the financing documents, the transferee thereof shall thereupon and thereby assume the performance of and shall be bound by each and all of the covenants, con- ditions and obligations provided in the main Lease to be performed and observed by the Lessee thereunder; (d) That nothing in this Consent shall be deemed to prohibit the assignment by the holder of the evidence of the indebtedness secured by the financing docu- ments,- together with the financing documents without the prior consent of the Lessor; (e) That the Lessor agrees that it will not termin- ate the Main Lease because of any default or breach thereunder on the part of the Lessee if the holder of the financing documents, within thirty (30) days a €- ter the service of written notice from the Lessor of its intention to terminate the Main Lease for such default or breach, shall either cure such default or .default if the same can be cured by the payment of money, or if otherwise, shall undertake in writing with and for the benefit of the Lessor, to keep and .perform all of the covenants and conditions of the Main Lease provided therein to be kept and performed by the Lessee until such time as the leasehold estate of the Lessee shall be sold upon foreclosure pursuant to the financing documents, or shall be released or reconveyed thereunder; provided, however, that .if the holder of the financing documents shall fail or re- fuse to comply with any and all of the conditions of this subparagraph (e),.then and thereupon the Lessor shall be released from the covenant of forebearance herein contained, and any notice provid d for in this subparagraph (e) shall be for the service of notices, and shall b�� delivs•red or elirected to the holder of -- 2 - the financing documents at its address as last shown on the records of the Lessor; (f) That the Lessor assumes no liability or respon- sibility for the.order of uriority of the financing documents or the relation of it to any other deed of . trust affecting said leasehold estate; (g) That upon and immediately after the recording of the financing documents the Lessee, at its own ex- pense, shall cause to be recorded in the office of the County Recorder of said Orange County a written . request executed.and acknowledged by the Lessor for a copy of any notice of default and of any notice of sale under the financing documents as provided by. the statutes of the State of California relating thereto: Concurrently with the recordation of such. financing documents, the Lessee shall furnish to the Lessor a complete copy of the financing docu- ments, together with the name and address of each . holder thereof; This Consent is conditioned upon the execution by the Lessee and by Fidelity Mortgage Investors of the acceptances and agreements . attached hereto and made a part hereof. 'This Consent is further conditioned upon review and final ap- proval by the City Attorney of the legal documents necessary to carry, out the assignment. Prior consents of Lessor dated December 28, 1965 (as amended by the Consent dated July 8, 1968), August 14, 1967 and December 15, 1971 concerning the I -lain Lease are not modified or affected by this Consent. DATED: I MAR .7 . 1973 1973 CITY OF NEWPORT BEACH - 3 ACCEPTANCE A14D AGREEMENT The Undersigned FIDELITY 21,1ORTGAGE INVESTORS, as the Benficiary or Grantee .named in certain financing documents mentioned in the foregoing Consent, in its own behalf and for its successors in in- terest, and with and for the benefit of the Lessor named in said Consent, does hereby approve, accept and agree to be bound by each and all of the conditions, covenants and acknowledgments set forth in said Consent. Dated at , this day of , 1973. FIDELITY MORTGAGE INVESTORS By The Undersigned BALBOA BAY CLUB, INC., a California corpora tion, as the Lessee and Assignor named in the foregoing Consent,. and as the Trustor or Grantor under the financing documents therein mentioned, in its own behalf, and with and for the benefit of the Lessor named in said Consent does hereby approve, accept and agrees to be bound by each and all of the conditions, covenants and acknowl- edgments set forth in said Consent. Dated at ... , California, this day of " 1973. BALBOA BAY CLUB, INC. By.... By . . - 4 -- .9 C, 0. ICotpuratinn) • .. STATt .OF CALIFORNIA ) 'I Orange } SS. g COUNTY OF l i On March 7, 1.973 _ before me, the undersigned. a Notary Public in and for said State, personally appeared Donald A. McInnis ' m known to me to be t Mayor t. and Laura Lagios he City Clerk }&27[oCTCptof the corporation that executed the within Instrument. w known to me to be - z known to me to be the persons who esecr.ted the within Instni ment an behalf of the corporation therein named. and °• aeknowied_ed to me that such o.,rporation executed the within minstrument pursuant to its bylaws or a resolution of it- board I-- _ Rf dirertor,. DOiOTHY I WITNESS my hand and official seal. i �'s' t L. PALEN� j 111 '. Y`diA ^Y PUuUC Cr,L1�C4YIAi T I '.�`.��e P21,y^,IPAL OFFICE IN i Signature '^ � '""" "•'••— 1 5 ;' ORANGE COON yY My Commission Expires 9, 1977 1 Name (Typed or Printed) ' (Tht, ama for 6014a1 notarial rWI (Corporation) T STATE OF CALIFORNIA )} / SS i COUNTY OF tOn before me, the undersirned, a Notary Public in and for said State, personally appeared to known to me to be the President, and w known to me to be Secretary of the corporation that executed the, within Instrument, : known tome to be the persons who executed the within Instrument on behalf of the corporation therein named, and ' acknowledged to to me that such corporation executed the within ainstrument pursuant to its by-laars or a resolution of its board of directors. WITNESS my hand and official seal. ' Sio azure Name (Typed or Printed) {This area tw MOW notariA r 4 TO 362 e O • (Partnership) STATE OF CALIFORNIA ) ' s COUNTY 01' I On before me, the undersigned, a' 'Notary Public in and for said State., personally appeared C W Z known 101110 -�+ to Inc _— of the partners of Ihs partnerA6ip a ti that cxecw, d the within instrument. and acknowledged to me itn than such parurenhip exrewvd the same. !. \ITINC» my hand and n$icial seal. fT }pwl m Prinierl) IThis arta Ion oECial polar:,, +1 reap EXHIBIT "A": That certain Part_1_of L- =d situ=tcd :In the'City of :,_wort Basch, County of Orange, State of Califc_nia,;_0re particularly described as: follolsr Beginning at a point cn tare .U. S. rUl:craad .LIns1 a to .dad fro ='II. S. Bulkhead Static= A;o. 129 to U. S. £ui :u. ^_ad Station t.o. 1305 as said. Bul!zhcad line and Bulkhead Staticrs rrn laid c-it zm d c n on a =-p of P+2cz.7ort.Bay, California, showing F.�rbor.Lim_5 a:�rc eu by t ar Depart=_mt, January 38, 1917,: which said point, is eintnnt South ol° CO' CO" East, =casured along said Bulkhead - -line, 700.00 feat fro= ths.intarsecticn of said, Bulkhead Line with the:South- westerly arolom^_aticn of the ccnt_r.13ae of :Irvine Avenue, as she zs an a rap of First ?ddition to ;;2r,ort Emiohts, recorded in book 4, page 94 of llis cellaaeous Nsns, in the office of the County Recorder of said Orange County, said .point of intersection being the most Southerly corner of lot H of.Tract No." 919, as shc;.-i on .a rag, recorded in book 29, paves 31 to 34: inclusive of Miscellaneous L­ps, in the office of the County Recorder of said Orange-County; ' thence ;:brth Zy° Co' 00", - zest. "154.19.feet to I the Southerly. line of the 100 .` foot right of way of the California State'Highs:ay ORA -50-B; thence Easterly along -Laid Southerly lima of the 100 .foot right of :::ay of the California, State li:glnuny to an intersection with the Northwesterly line of Tract No .'. 1140,. as sha- -m on, a rap recorded. in nook. 35, page 28 of Iiiscellan2aus- 41taps, ,' in the office of the County Recorder. of said Orange. County.;.thce Sauib 290 00' 00" .'ast along said Northwesterly line and that Soutln westerly prolongation thereof 624.99 feat to a point on the said U. S. £ulkhead.Liru between Station '.o. 229 a-id Station Vo. 130, said point being. Station No. 130 as described in decree in Case ;;o. 20435 in Supariar..Caurt of the State of California, ,n and for the County of Orange, thence. contiruing.South 29° " 00' 00" :rest 350. Do feat to a line parallel with and distant :330.00 feet Southwesterly, ~assured at Tight angles`.frc= the above rentioned U. S. Bulhhecd line .bat -- een Station ito. 129 End Station :;o, 130; thence ;;orth 61 00' CO" S:ast Zlong --nid parallel line, 11574.54 feet to a:point Which bears SauL'n "19° CO' 00" :7est.350.00 ;:eet from the point of beginning; thence' North 29° 011' 00" East 350.CD feet to said point of beginning. • i EYCEPT that porting described as follows: Enginning at a point on the Sa.itherly L'ma of t-_- 10D foot right of way of the California State Highway 02LA -GO -B in Orar,e Cavn.ty, Califo_ -la, said point :of beginning being at .. right angles to Engine 's Station 7+495.46 in the center line of said: FISIPmy; t::_mce South 15° 33' 30" Vost,44.00 feet; thence North 74° 21' 30" Lest 34.00 feet; hence forth 15° 3S1 3D" East t6 mi intersection with the said Sout erly line of the State Highray; thence Southeasterly along said Southerly line to the point of beginning. /j.SD EXCEPT that portion thereof lyir_g Southwesterly of the existing concrete Du1L•hesd or below the neap hi,, ^,h tide line of the Paciiie Ocean in 11cuport Bay as to those portions where no icproved Dulkhaad exists. EXFIBIT "A" - _ T ALSO E C'PT the folla,ing'destribed Bedinnin- at a point ca the U. S. Bulkhead ]ins extending from U. S. Bulkhead Station :a. 129 to.U. S. 1 .`._ad Stat-4- L-a ::o. 130, as said Eulkhaad line: and Bulkh^ad Statiens are la_d c•t and s --in on a nap of Its-.-port Bap, California, showing ?sro; lirrs t nro ti by t, a t; :- Daparta= tt, Jauy ^ry.13, 1917, : e hich said. point is dista:t south 61° Ol' 07" East., z_acurad along said Bullhead line, 7�O.OD feet Fran t e intersection of.said Bulkhead line with the --a. Southwesterly. pr o' C . ati=n 'O� th^ c-ntaX line a£ 1� ��i'1° i�V ^wll2, as Sh4�7LI. AA - a nap of, irst A_4, tacn to :_ort rights, recard_d in.book 4, page "94 of Hisc211c-_ow "cps, in the office :of, t::_ County Recordcr•of said Orange County, said point herly corner o£ Lot uH" of intersection being -the :ost Sout a£,;. Tract ..0. 919, as shc3 on a ya recoreed in bock 29, naves 31 to 34 inclusive of Miscellaneous :ac3, in the of ice of.the.County Recorder of said Orange County; thence .North 23' 53' 53" East.154.19 feet to a point in the South westerly line of .the 100 foot right of kay of the California State Highway 0 A-60 -B, said point being radial:to Engineer's Station 6-55:15 in the center line of said hivI-vey,.said radial bears :orth.l9° 37' 57" K L from said 'Point, said South.:= sterly !in- being a curve, coscave`narteasterly and having a radius of 2050.00 fact ;'Th >rce 5out'reasterly along said San *_haesterly line threu�h a c� tnl ar.;le os 3° 59' "27 ",.142.79 feet to n,tan,ent line; thence South 74° 21' 3D" East along said tangent line and said Southwesterly line, 652.0& `cez; th =nce South 23° 5£' 53'!AZast i95.71.feet; thence Scnth.27° CO' CO" East 10.66 feel; thence ce South 2B °:38' 53" Last 480 00 feet to a line parallal sr.th a-d sou-'p,7_ 350.00.izet from said Bulkhead line; .B thence North 61° O1' 07" Nest along said Pa line a distsnce of 7903.00 feet to 8 point which bears South 4^8° 53' 53" I:est 350. CD feet from the point of beginning,; thence r:=h 250.581 53" Ezst 350.00 feet to the: point of beginning. EXHIBIT "An, TM TSUSTOR'.S L .<1S_ OLD 1_ TE ?SST L'I'THE. FOREGOING.PROPERTY 14A5 MATED.. BY.TBr FOLLO'i1G DESCRIBED LEASE: A Leasehold Estate created by.the folio- .,ring described Lease,:,,..,. . A lease covering.this and other pronerty;,dated Parch 24,_1948; executed`. by. City of F.eu ort Bench, a m;inicipal corporation, •' as Lessor, and by the Newport Bay Company, a corporation, as Lessee,.for the term of 50 years, from. September 1943 and ccntiaui� to and includin- the 31st day of August,. 1998; upon:the< terms, ccnditions a- cov=rnts therein provided, recorded January 14; 1954; in boos: 2651, page 126, Official Records; and as amended by instrument dated April 10, 1950, executed by. said Lessor `and said,-Lessee, recorded January 14, 1954, in book 2651,. ?age I46,,Official Re cords, ,.and as further,amenced: fly instrument dated Seute =.ber 29, 1952, ,executed by- sai.d.Lessor and said Lessee, recorded January 14, 1954, in book: 2651,_,paoe 152,._Official Records, and by an instrt eat Bated Mar 2S, 1960, e_xecuted'bv said.Lessor and Lessee, recorded April 69 1900, in boo: 5179, page 430 of. Official'Records, upon. the terms,.... conditions and covenants, :as therein provided. The interest of the lessee under said lease was.: assigned to.Sfrather Investment, Inc., a corperatic_t,.by ass.ipment recorded.aprii 6, 1960, as Document•No: 60015,- >; "r;:. in book 5179, pzge 561 of Official Records. Wrather Investment; Inc., a.: corporation, ch its name to Balboa, Bay Club,..on April 13.; 1960. EXHIBIT "A"