HomeMy WebLinkAboutC-7298-6 - Beacon Bay, 33 - Assignment and Assumption of Lease 202412/18/24, 3:36 PM
Batch 18504350 Confirmation
Recording Requested By
and When Recorded Return To:
City of Newport Beach
City Clerk's Office
100 Civic Center Drive
Newport Beach, CA 92660
Recorded in Official Records, Orange County
Hugh Nguyen, Clerk -Recorder
II jIIIIIIII1II III1IIIIII II NO FEE
*$ R 0 0 1 5 3 0 5 3 6 4 $ *
2024000329231 1:30 pm 12/18/24
90 CRSC06 A38 A34 8
0.00 0.00 0.00 0.00 21.00 0.00 0.000.000.00 0.00
THIS SPACE FOR RECORDER'S USE ONLY
ASSIGNMENT AND ASSUMPTION OF LEASE
THIS ASSIGNMENT AND ASSUMPTION OF LEASE ("Assignment") is made and
entered into as of this to day of DEc-Gnm g3e>z , 2024 ("Effective Date"), by and
between the City of Newport Beach, a California municipal corporation and charter city
("Lessor" or "City"), Timothy Hodges, a married man as his sole and separate property
("Assignor"), and Timothy William Hodges and Thanhhai Tran Hodges as trustees of The
Tim and Tiffany Hodges Revocable Trust, established May 20, 2013 ("Assignee"). Lessor,
Assignor and Assignee are sometimes individually referred to herein as "Party" and
collectively as the "Parties."
RECITALS
A. On July 13, 1994, Lessor and Robert V. Hodges and Marilyn W. Hodges, Trustees
of the Hodges Family Trust dated June 15, 1981, entered into a fifty (50) year lease
with Lessor ("Lease") for the real property commonly known as Beacon Bay Lot
33, and legally described as:
Lot 33 as shown on the map filed in Book 9, Pages 42 and 43 of
Record of Surveys, in the Office of the County Recorder, County of
Orange, State of California ("Property").
B. The Lease was evidenced by a Memorandum of Lease recorded on December 7,
1994, as Instrument No. 94-0701496 in the Official Records of Orange County.
C. On October 12, 2016, Robert V. Hodges died, as evidenced by an Affidavit — Death
of Trustee, recorded on October 17, 2017, as Instrument No. 2017000440803 in
the Official Records of Orange County.
D. Assignor and Assignee represent that upon the death of Robert V. Hodges, without
notice to Lessor, the leasehold interest transferred to Marilyn W. Hodges, as the
sole surviving trustee of the Hodges Family Trust dated June 15, 1981, as
amended.
https://gs.secure-erds.com/Batch/Confirmation/l8504350 1/2
Recording Requested By
and When Recorded Return To:
City of Newport Beach
City Clerk's Office
100 Civic Center Drive
Newport Beach, CA 92660
-13 an
THIS SPACE FOR RECORDER'S USE ONLY
cording ees Pursuant to GovernFi
ASSIGNMENT AND ASSUMPTION OF LEASE
THIS ASSIGNMENT AND ASSUMPTION OF LEASE ("Assignment") is made and
entered into as of this lv day of vtc-Em ,:5r rz , 2024 ("Effective Date"), by and
between the City of Newport Beach, a California municipal corporation and charter city
("Lessor" or "City"), Timothy Hodges, a married man as his sole and separate property
("Assignor"), and Timothy William Hodges and Thanhhai Tran Hodges as trustees of The
Tim and Tiffany Hodges Revocable Trust, established May 20, 2013 ("Assignee"). Lessor,
Assignor and Assignee are sometimes individually referred to herein as "Party" and
collectively as the "Parties."
RECITALS
A. On July 13, 1994, Lessor and Robert V. Hodges and Marilyn W. Hodges, Trustees
of the Hodges Family Trust dated June 15, 1981, entered into a fifty (50) year lease
with Lessor ("Lease") for the real property commonly known as Beacon Bay Lot
33, and legally described as:
Lot 33 as shown on the map filed in Book 9, Pages 42 and 43 of
Record of Surveys, in the Office of the County Recorder, County of
Orange, State of California ("Property").
B. The Lease was evidenced by a Memorandum of Lease recorded on December 7,
1994, as Instrument No. 94-0701496 in the Official Records of Orange County.
C. On October 12, 2016, Robert V. Hodges died, as evidenced by an Affidavit — Death
of Trustee, recorded on October 17, 2017, as Instrument No. 2017000440803 in
the Official Records of Orange County.
D. Assignor and Assignee represent that upon the death of Robert V. Hodges, without
notice to Lessor, the leasehold interest transferred to Marilyn W. Hodges, as the
sole surviving trustee of the Hodges Family Trust dated June 15, 1981, as
amended.
E. Assignor and Assignee represent that the leasehold interest again transferred,
without notice to Lessor, to Marilyn W. Hodges, as sole trustee of the Hodges
Survivors Trust, created from the Hodges Family Trust Established June 15, 1981,
as amended, as evidenced by a Quitclaim Deed recorded on October 17, 2017, as
Instrument No. 2017000440802 in the Official Records of Orange County.
F. Assignor and Assignee represent that on April 14, 2018, Timothy Hodges was
appointed an additional trustee of the Hodges Family Trust dated June 15, 1981.
G. On May 14, 2022, Lessor and Marilyn W. Hodges, as sole trustee of the Hodges
Survivors Trust, entered into an Amendment No. One to Lease to amend the name
of the lessee identified in the Lease to be Marilyn W. Hodges, Trustee of the
Hodges Survivors Trust created from the Hodges Family Trust Dtd 6-15-81, as
amended, and to amend the insurance requirements as set forth in the Lease.
H. On February 27, 2024, Marilyn W. Hodges died, as evidenced by an Affidavit —
Death of Trustee, recorded on April 5, 2024, as Instrument No. 2024000085031 in
the Official Records of Orange County.
Assignor and Assignee represent to that upon the death of Marilyn W. Hodges, the
leasehold interest transferred to Timothy Hodges, Trustee of The Hodges Family
Trust dated June 15, 1981, as amended.
J. On October 23, 2024, pursuant to that certain Assignment and Assumption of
Lease, recorded on October 23, 2024, as Instrument No. 2024000276893 in the
Official Records of Orange County, Timothy Hodges, Trustee of The Hodges
Family Trust dated June 15, 1981, assigned all of its right, title and interest to the
Lease to Assignor.
K. Assignor now desires to transfer, convey, assign, and set over unto Assignee, and
Assignee desires to accept and assume same from Assignor, all of the right, title,
and interest of Assignor as tenant in, to, and under the Lease.
NOW, THEREFORE, in consideration of the foregoing, the mutual covenants
herein, and for such other good and valuable consideration the receipt and sufficiency of
which are hereby acknowledged, it is hereby agreed as follows:
1. Assignment. As of the Effective Date, Assignor hereby assigns, transfers
and sets over unto Assignee, his successors and permitted assigns, all of the right, title
and interest of Assignor as tenant in, to and under the Lease. This assignment shall be
subject to each and all of the covenants, conditions and restrictions set forth in the Lease
and shall be subject to all rights and interests of the City thereunder, except as herein
otherwise provided.
2. Assumption. As of the Effective Date, Assignee, for himself and his
successors and permitted assigns, hereby accepts and assumes the Lease and agrees
to timely pay, perform, observe and discharge all of the covenants, conditions,
Assignment and Assumption of Lease (Lot 33) Page 2
agreements, terms and obligations to be performed as tenant under the Lease. Assignor
shall have no liability for any obligations arising under the Lease as of the Effective Date.
3. Consent. The City does hereby consent to the assignment of Assignor's
interest in and to the Lease to Assignee, subject to the terms and conditions of this
Assignment.
4. Indemnity. Assignor and Assignee shall defend, indemnify and hold the City
harmless from all costs, expenses, claims, causes of action or damages (including,
without limitation, reasonable attorney fees and costs), which may arise out of or in
connection with this Assignment.
5. Exempt Transfer. The transfer effectuated by this Assignment is an exempt
transfer pursuant to Section 3(13)(3)(g) of the Lease because the transfer is to a living
trust, and shall not operate to increase rent.
6. Binding Effect. This Assignment and all provisions hereof shall be binding
upon and inure to the benefit of the Parties hereto and their respective successors and
permitted assigns.
7. Waiver. A waiver by either party of any breach, of any term, covenant or
condition contained herein shall not be deemed to be a waiver of any subsequent breach
of the same or any other term, covenant or condition contained herein, whether of the
same or a different character.
8. Entire Agreement. This Assignment represents the full and complete
understanding of every kind or nature whatsoever between the parties hereto, and all
preliminary negotiations and agreements of whatsoever kind or nature are merged herein.
No verbal agreement or implied covenant shall be held to vary the provisions herein. The
Recitals set forth above are incorporated herein by this reference.
9. Interpretation. The terms of this Assignment shall be construed in
accordance with the meaning of the language used and shall not be construed for or
against either party by reason of the authorship of the Assignment or any other rule of
construction which might otherwise apply.
10. Amendments. This Assignment may be modified or amended only by a
written document executed by the Parties approved as to form by the City Attorney.
11. Severability. If any term or portion of this Assignment is held to be invalid,
illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining
provisions of this Assignment shall continue in full force and effect.
12. Controlling Law and Venue. The laws of the State of California shall govern
this Assignment and all matters relating to it and any action brought relating to this
Assignment shall be adjudicated in a court of competent jurisdiction in the County of
Orange, State of California.
Assignment and Assumption of Lease (Lot 33) Page 3
13. No Attorneys' Fees. In the event of any dispute or legal action arising under
this Assignment or the Lease, the prevailing party shall not be entitled to attorneys' fees.
14. Counterparts. This Assignment may be executed in two (2) or more
counterparts, each of which shall be deemed an original and all of which together shall
constitute one (1) and the same instrument.
[SIGNATURES ON NEXT PAGE]
Assignment and Assumption of Lease (Lot 33) Page 4
IN WITNESS WHEREOF, the parties have caused this Assignment to be executed
on the dates written below.
APPROVED AS TO FORM:
CITY ATTORNEY'S OFFICE
Date:
By:
, alron C. Harp ►l I4014yVX,
dity Attorney
ATTEST:
Date: �h
By:l�_'.Il, ��� •�% %tile
Brow'�n/
City Clerk
CITY: CITY OF NEWPORT BEACH,
a California municipal corporation and
charter city
Date: 2 Zo L
By:
�KLeung
ity Manager
ASSIGNOR: TIMOTHY HODGES, a
married man as his sole and separate
property
Date:
Bv: Signed in Counterpart
Timothy Hodges
ASSIGNEE: TIMOTHY WILLIAM
HODGES AND THANHHAI TRAN
HODGES AS TRUSTEES OF THE TIM
AND TIFFANY HODGES REVOCABLE
TRUST, ESTABLISHED MAY 20, 2013
Date:
Signed in Counterpart
By:
Timothy William Hodges, Trustee
Date:
Signed in Counterpart
By:
Thanhhai Tran Hodges, Trustee
[END OF SIGNATURES]
Assignor and Assignee must sign in the presence of a notary public
Assignment and Assumption of Lease (Lot 33) Page 5
IN WITNESS WHEREOF, the parties have caused this Assignment to be executed
on the dates written below.
APPROVED AS TO FORM:
CITY ATTORNEY'S OFFICE
Date:
By:
'ron C. Harp 11Iw�3y�
City Attorney
ATTEST:
Date:
in
Signed in Counterpart
Leilani I. Brown
City Clerk
CITY: CITY OF NEWPORT BEACH,
a California municipal corporation and
charter city
Date:
Signed in Counterpart
Grace K. Leung
City Manager
ASSIGNOR: TIMOTHY HODGES, a
married man as his sole and separate
property
Date: l 2 1X /7aZ41
By:
Timothy Hodges
ASSIGNEE: TIMOTHY WILLIAM
HODGES AND THANHHAI TRAN
HODGES AS TRUSTEES OF THE TIM
AND TIFFANY HODGES REVOCABLE
TRUST, ESTABLISHED MAY 20, 2013
Date: 2 ZOZ
BY71;�-
Timothy Willia odges, Trus e
Date: / 7. / is / ZO Z
By: v
Thanhhai T n H dges, Trustee
[END OF SIGNATURES]
Assignor and Assignee must sign in the presence of a notary public
Assignment and Assumption of Lease (Lot 33) Page 5
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 OR } ss.
On 12 . 10 , 20 2 `-I before me, J E i'J N r f )Z P N N M u t—\(E,
Notary Public, personally appeared GIZ O (-e (--C'JNLto , who
proved to me on the basis of satisfactory evidence to be the person(s-) whose name(s-) is/afire
subscribed to the within instrument and acknowledged to me that hE/she/thay-executed the same in
hasher/their authorized capacity(ies), and that by fags/her/ttietr 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.
WITNESS Inv hand and official seal.
Sign
R , ' JENNIFER ANN MULVEY
,Votary Public • California
_ .. Orange County
Commission # 2375299
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 } ss.
(seal)
On , 20 before me,
Notary Public, personally appeared
proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their 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.
WITNESS my hand and official seal.
Signature (seal)
Assignment and Assumption of Lease (Lot 33) Page 6
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 Califomia
County of ®���RtCL� // } ss. 11
On ��'°'u- �P 20� before me,
Notary Public, personally appeared d ' t l (i aa..,% 1L who
proved to me on the basis of satisfactory evidence to be the pers n(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same in
his/her/their 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. A
- ARLIN PAUL NESE;R
WITNESS my hand and official seal. NotaOryraublifornia q
n9e'Counry
Commission # 2445715
J L My Comm. Expires May 7, 2027
Signature (seal)
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 Califomia
County of ® V'I e } ss.
On bf—d"A LW 20 ZA before me, AVIl $ VA Psi i� '
Notary Public, personally appeared T- h l r` ,
proved to me on the basis of satisfactory evidence to be the person(s) hose name(s) is/are
subscribed to the within instrument and acknowledged to me that helshe/they executed the same in
his/her/their authorized capacity(ies), and that by his/herltheir 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.
ARLIN PAUL NESE
WITNESS my hand and official seal, a °� NotaryPublic- Califomia N
N ® Orange County
Commission # 2445715
My Comm, Expires May 7, 2027
Signature (seal)
Assignment and Assumption of Lease (Lot 33) Page 7