HomeMy WebLinkAboutC-5803(L) - Beacon Bay, 48 - Assignment of Lease 2000i
ASSIGNMENT OF LEASE
THIS ASSIGNMENT OF LEASE is made and is effective as of June 12, 2000.
WHEREAS, on or about July 26, 1994 MICHAEL A. FORD and NANCY G. FORD
as lessee ("Lessee") and THE CITY OF NEWPORT BEACH a chartered municipal
corporation as lessor ("Lessor") entered into a lease (the "Lease") of real property a
memorandum of which was recorded on December 7, 1994 as instrument number 94-
0701508 in the Official Records of Orange County for those certain premises in the City
of Newport Beach, County of Orange, State of California (the "Real Property") described
as:
Lot 48 as shown on the map filed in Book 9, Pages 42 and 43 of Records of
Surveys, in the Office of the County Recorder, County of Orange, State of
California.
WHEREAS, Lessee desires to assign all of Lessee's right, title, and interest in and
to the Lease and the Real Property to MICHAEL A. FORD and NANCY G. FORD, Trustees
of the MICHAEL AND NANCY FORD TRUST dated June 28, 1990 ("Assignee") and
Assignee desires to accept the assignment as provided in the Lease:
NOW TH EREFORE, for good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged:
1. Assignment of Lease. Lessee hereby absolutely conveys, transfers, and assigns
all of Lessee's rights, titles, and interests in and to the Lease and the real property to
Assignee effective as of June 12, 2000.
2. Acceptance of Lease. Assignee hereby accepts the assignment of the Lease
and assumes and agrees to perform and fulfill all of the terms, covenants, conditions, and
obligations required to be performed and fulfilled by Lessee under the Lease, including the
making of all payments due to or payable on behalf of the Lessor under the Lease as they
become due and payable.
Executed at Newport Beach, California on June 12, 2000:
Lessee:
0
Michael A. Ford
Nancy G. Ford
Ass: The Mich I and Nancy Ford Trust `
Michael A. For , Trustee Nancv G. Ford, T