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Home My WebLink AboutC-3090(H) - Harbor Island, 829 - Termination of Lease 2025 - "Balboa Yacht Basin Office"9/29/25, 3:41 PM Batch 19916595 Confirmation Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder II II II III II�III II I II ��II II NO FEE *$ R 0 0 1 5 8 1 8 0 0 9$ 2025000266158 11:36 am 09/29/25 Recording Requested By 661 Ex10A T02 11 and When Recorded Return To: 0.00 0.00 0.00 0.00 30.00 0.00 0.00 0.00 0.00 0.00 City of Newport Beach 100 Civic Center Drive, Newport Beach, California 92660 Attn: City Clerk (Exempt From Recording Fees Pursuant to Government Code § 27383) i (SPACE ABOVE THIS LINE FOR RECORDER'S USE) TERMINATION OF LEASEHOLD This Termination of Leasehold is made this 2.3 day of September, 2025, by and between the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City"), and West Point Investment Corporation, a California corporation ("Tenant"). RECITALS . I A.. City and Tenant executed that certain Lease Agreement, dated February 10, 2020, for the Property and Premises as legally described and depicted in i Attachment 'A," attached hereto and by this reference made a part hereof for a term of five (5) years, commencing on February 10, 2020, and expiring February 10, 2025, with an option to renew for one (1) additional term of five (5) years ("Lease"). B. Withrespect to the Lease, City and Tenant executed that certain Memorandum of Lease Agreement, . dated February 10, 2020, which was recorded February 11, 2020, in the office of the County Recorder of Orange County, California, t as Instrument No. 2020000057942 ("Memorandum of Lease"). C. City and Tenant desire to terminate said Lease and Memorandum of Lease. AGREEMENT In consideration of the foregoing, and other valuable consideration, the receipt and sufficiency of which are. hereby acknowledged, City and Tenant hereby agree as follows: 1. The Recitals above are incorporated herein by reference and made a part hereof. .2. As of February-. 13, 2025 ("Effective Termination Date"), the Lease is hereby terminated and is of .no further force and effect. City and Tenant are hereby released fro'rri any and all obligations under the Lease which accrue after the Effective Termination Date. West Point Investment Corporation Page 1 https://gs.secure-erds.com/Batch/Confirmation/l9916595 1/2 3. The Memorandum of Lease is hereby terminated and is of no further force or effect, and is hereby intended to be fully released as an encumbrance against the Property and Premises. [SIGNATURES ON NEXT PAGE] West Point Investment Corporation Page 2 IN WITNESS WHEREOF, the parties hereto have executed this Termination of Leasehold as of the date set forth above. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: Z� Z By: J7✓!J �1�^ t> Aargn)C. Harp City''Attorney ATTEST: Date: 'I By: -fQf Molly er Interim City Clerk CITY OF NEWPORT BEACH, A California municipal corporation and charter cit Date: bal 10 Z5- By: Gra . Leung Ci anager TENANT: West Point Investment Corporation, a California corporation Date: Signed in Counterpart Bv: Kevin John Hayes Chief Executive Officer Date: Signed in Counterpart Bv: Alice Herren Hayes Chief Financial Officer [END OF SIGNATURES] ATTACHMENTS: Attachment A — Legal Description and Depictions of Property and Premises West Point Investment Corporation Page 3 IN WITNESS WHEREOF, the parties hereto have executed this Termination of Leasehold as of the date set forth above. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: Aaron C. Harp City'Attorney ATTEST: Date: By: Molly Perry Interim City Clerk CITY OF NEWPORT BEACH, A California municipal corporation and charter city Date: Bv: Grace K. Leung City Manager TENANT: West Point Investment Corporatio , a alifornia corporation Date: By: Kevi ohn Hayes Chieff Executive Officer Date: Oq l ak I --�— By: Aloe H ren Hay Chief Financial Officer [END OF SIGNATURES] ATTACHMENTS: Attachment A — Legal Description and Depictions of Property and Premises West Point Investment Corporation Page 3 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 e -A0E, } SS. On '3tpV 23 20 Z before me, ENNi'F 12. PNCJ ►rYLIj Ly e r Notary Public, personally appeared 612- - c-E K • L-EL) 6 who 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. JENNIFEA CNN MULVEY i Notary ►ublic - California 11, WIT ESS y han fficial seal. a. Cb nOm iange SSIon county 375299 My Comrr.:xpires Oc; 12. 2025 Si a ur sea 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. 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) West Point Investment Corporation Page 4 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 Cal*fornia County of 01 " _)SS. On r O 20 '�S before me, �ii1 VA,�C� Mtn -T t'Yt-°'C-t'+ Z_ Notary P blic, personally appeared -k ;i�l cAul who 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 oftheState of California that the foregoing paragraph is true and correct. WENDY M. VALENTIN-JIMENEZ ,. COMM. #2433524 n WITNE nd and official seal. NOTARY DIEGPUBLICOUNT NIA Q � � SAN DIEGO COUNTYn, —(� V • My Commission Expires Signatu a 27 _ l 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 Cali rnia Courp of ay t Sq. On 20)155_ before me,t Notary Public, personally appeared Ptk� ce- He rre-V proved to me on the basis of satisfactory evidence to be t subscribed to the within instrument and acknowledged to same in his/her/their authorized capacity(ies), and that by instrument the person(s), or the entity upon behalf of which instrument. I certify under PENALTY OF PERJURY foregoing paragraph is true and correct. WITNES hand and official seal. __414V Signature K U�,tQ-nAi n = he person(s) whose name(s) is/are me that he/she/they executed the his/her/their signatures(s) on the the person(s) acted, executed the under the laws of the State of California that the W DY M. VALENTIN-JIMENEz r. COMM. #2433524 n U NOTARY PUBLIC-CALIFORNIA (A V SAN DIEGO COUNTY n My Commission Expires to JANUARY 8, 2027 (seal) West Point Investment Corporation Page 4 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 850 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. West Point Investment Corporation Page A-1 t , 1 4tSA r /IJ s•k• -�' i 4 Newpori Beach ai&cIgirrr8r Every few-0-Able,QRrrj h6A t><ian ar'9C�i 0 Mauro 0.3 aampacy affm data pmeded, hcwffoar, I- a Cty d GI u FkrvrprA Mach aaN Its employ@(* end aw to disdain any we afi respr mibility tram ar rakwu to errs retwfh+ chlartad in Itri +rso �` r 0 d,43�, E►,�1� - _ Imagery: 217CS2B 11 phrdes prmkWd by Eagle `+e awr Feet IrmyirgwwY.esglsxriahxm West Point Investment Corporation Page A-2 West Point Investment Corporation Page A-3 �Y ti 'hi �7i , to , of �' - >`;tm BAYSFD> Y_ HARSOR ISLAND ntt W ;Ozjj; F �Fr— U1 7; ¢ S 6..1II l3 ae ae u • as B€MON BAY u Non-exclusive, non -designated parking at the Property -8 4 y-xR nib bp�i„� e gAY"aoNY Nevvp o -t B a c h Disclaimer_ Every reasonable effort has been made to assure the accuracy of the data provided, however, The City of Newport Beach and its employees and agents disclaim any and all responsibility from or relating to s any results obtained in its use. -'� 0 200 400 Imagery: 2002-2013 photos provided by Eagle _= J Feet Imaging www.eagleaerial.com West Point Investment Corporation Page A-4 Office SCALE: 112" = T-O" �uas��t scn. Rom: M sr SHEET SIZE: 11x17 1514 829 Harbor Island Drive Newport Beach, CA �� kim�warl�&ceG�rs�.arttti jil�wwk:Gsee(icirm.ct�tr West Point Investment Corporation Page A-5