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HomeMy WebLinkAboutC-7260-9 - Beacon Bay, 14 - Lessor's Consent and Agreement 2002 & 2006This Document as electronically recorded by i'REF1�;tFd%I!uC; pf:( ULA �U I Zang hecording Services B '-ff7S i- AMr"Pr AN TITLE COWIANY City Manager's Office City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 Recording Requested by Zang Recording Services on Behalf of: _� A R corded in Official Records, Orange County T m Daly, Clerk -Recorder IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 111111 27.00 2006000732271 03:52pm 10/30/06 1873C34A126 0. 0 0.00 0.00 0.00 15.00 0.00 0.00 0.00 THIS SPACE FOR RECORDER'S USE ONLY LESSOR'S CONSENT AND AGREEMENT Recitals Loan No: 246290837 Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan from PFF Bank and Trust ("Lender) to be secured by leased property, as such property is more particularly described in Exhibit A ("Property"). Lessee currently holds or will acquire upon consummation of the pending transaction, a leasehold interest under the lease described in Exhibit A ("Lease") in which the undersigned ("Lessor") is the lessor. Agreement 1. The information on Exhibit A is incorporated herein by reference. 2. The property is subject to the Lease described in Exhibit A. The lease documents described in Exhibit A constitute the entire agreement of Lessee and Lessor regarding the Property. The lease is in full force and effect and unmodified. All rents and other charges due have been paid, there are no other defaults and the Lease is in good standing. Lessor has no knowledge of any facts which now or after the passage of time or the giving notice, or both, would constitute a default under the Lease. The payments required under the Lease are set forth in Exhibit A. Payments and notices to Lessor are deliverable as set forth in Exhibit A. Lessor has no claims outstanding against Lessee in connection with the Property. Loan No: 246290837 3. Lessor consents to the granting of a security interest in Lessee's interest in the lease to Lender. Lessor agrees to send concurrently to Lender copies of any notices sent to Lessee pertaining to Lessee's default or Lessor's intent to terminate the Lease or any part thereof by certified U.S. mail. No modification or termination of the Lease agreed upon by Lessee shall be effective without the express written consent of Lender. Notice will be provided to Lender by certified mail at the following address: PFF Bank and Trust, 9467 S. Milliken Ave., Rancho Cucamonga, CA 91729, referencing the Loan Number set forth on Exhibit A or at such other address given to the undersigned by Lender, at the same time as the notices are sent to Lessee. 4. Should the Lease be terminated for any reason prior to expiration of its stated term, Lessor shall, upon written request by Lender to Lessor made within sixty (60) days after such termination, enter into a new lease ("New Lessee") with Lender as the Lessee. The New Lease shall have a term equal to the remainder to the stated term of the Lease has it not been terminated prior to the end its stated term. The New Lease shall have the same covenants, conditions and agreements (except for any requirements which have been satisfied by Lessee prior to termination) as are contained in the lease. Lessor shall be required to enter into the New Lease only if Lender has 'remedied and cured all monetary defaults under the lease and has cured or has commenced and is diligently pursing completion of the cure of all non -monetary defaults of Lessee susceptible to sure any party other than by the original Lessee. 5. This consent and agreement shall not operate to change or supercede the terms & conditions of the lease in the event of a conflict, the terms of the lease shall prevail. e Ho er ludau, City Manager Lessor 061 Loan No: 246290837 STATE OF CALIFORNIA COUNTY OF nm�C%/, & OniIV VI — I *b' before me, ) 1. �i? A/� jo -, ��I�&( i personally appeared VMI NR�J r personally known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that he\s4&W3..,--* executed the same in hisk4air authorized capacity.(i , and that by his/heather signature(s.) on the instrument the person or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal. Signature Notary Public in and for the State of �� I il(VY1R LOZVZuor -wujo3AW Nunoo eawjo gUJMDC) - koM itnegl #uo uoo -- oil _ Mirlf8l LIE AM I. BROVM Commission N 1633477 Notary Public - co"fornla Orange County My Comm. Expkw Jan 25,201 3 ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Property Description Lot 14 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. 5 EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Loan No. 246290837 Unit No 1. Borrower's (Lessee) Name: David L. Arnold and Grace E. Arnold 2. Property Address: 14 Beacon Bay, Newport Beach, CA 92660 3. Property's Legal Description (if a metes & bounds attach legal): See Attached 4. Developer/Condo Homeowners Assoc. (Lessor) Name: Beacon Bay 5. Lease (including all amendments and dates): See Attached 6. Borrower (Lessee's) Current Monthly Lease Payment $5,104.17 Payments are current (circle either Yes r No). 7. Deliver notices and payments to Lessor at: City Manager's Office, City of Newport Beach, P.O. Box 1768, Newport Beach, CA 92658-8915 8. Term of Lease: 50 Years; commenced on September 18, 2000; Expires on July 1, 2044 If applicable: Pursuant to the Lease, Lessee has the right, at its option, to renew the term of the Lease for N/A consecutive renewal terms of N/A years each. 0 4�(ieoo- (714)542-3424 www.zangrecordingservices.com PENALTY OF PERJURY AFFIDAVIT (GOVERNMENT CODE 27361.7) I Certify under the penalty of perjury that the notary seal on the document to which this statement is attached reads as follows: Name of the Notary: ` - l�i 1 V-O-rn;N V -Y Date Commission expires: I I , I County Where Bond is Filed: State of CALIFORNIA Commission Number: 1<jf 77 Vendor #: �t> I certify under penalty and the laws of the State of California that the illegible portion of this document to which this statement is attached reads as follows: Place of Execution Signature: Garden Grove Zang Recording Services, Inc. Date: k<D( qc%(z� Newno RECORDING REQUESTED BY- . FIRST SOUTHWESTERN TITLE COMPANY City Manager's Office City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 1230 This Document -,3s electronically recorded by Firs iuthWestern Title Recorded in Official Records,County of Orange Darlene Bloom, Interim Clerk -Recorder 111111111111111111111111111111III 60.00 20020495585 08:00am 06/13/02 9 49 C34 Al2 25 00 0.00 0.00 0.00 48.00 0.00 0.00 0.00 THIS SPACE FOR RECORDER'S USE ONLY LESSOR'S CONSENT AND AGREEMENT Loan No: 0907320-6 This Lessor's Consent and Agreement is dated as of June 3, 2002. Recitals Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan (the "Loan") from Hawthorne Savings, F.S.B., a federal savings bank ("Lender) to be secured by leased property, as such property is more particularly described in Exhibit A ("Property"). Lessee currently holds or will acquire upon consummation of the pending transaction, a leasehold interest under the lease described in Exhibit A ("Lease") in which the undersigned ("Lessor") is the lessor. Agreement 1. The information on Exhibit A is incorporated herein by reference. 2. The property is subject to the Lease described in Exhibit A. The lease documents described in Exhibit A constitute the entire agreement of Lessee and Lessor regarding the Property. As of June 3, 2002, the lease is in full force and effect and unmodified. All rents and other charges due have been paid, and there are no other defaults and the Lease is in good standing as of June 3, 2002. Lessor has no knowledge of any facts, which now or after the passage of time or the giving notice, or both, would constitute a default under the Lease. The payments required under the Lease are set forth in Exhibit A. Payments and notices to Lessor are deliverable as set forth in Exhibit A. Lessor has no claims outstanding against Lessee in connection with the Property. L:Spcprov\Transpc\Residential Lending\Lessor's Consent Agreement. (City of Newport Beach & Arnold). 060302.doc Loan No: 0907320-6 3. Lessor consents to the Loan and the granting of a security interest in Lessee's interest in the lease to Lender. Lessor agrees to send concurrently to Lender copies of any notices sent to Lessee pertaining to Lessee's default or Lessor's intent to terminate the Lease or any part thereof by certified U.S. mail in accordance with the terms of the Lease. No modification or termination of the Lease agreed upon by Lessee shall be effective without the express written consent of Lender. Notice will be provided to Lender by certified mail at the following address: Hawthorne Savings, F.S.B, 2381 Rosecrans Avenue, EI Segundo, CA 90245, referencing the Loan Number set forth on Exhibit A or at such other address given to the undersigned by Lender, at the same time as the notices are sent to Lessee. 4. Should the Lease be terminated for any reason prior to expiration of its stated term, Lessor shall, upon written request by Lender to Lessor made within sixty (60) days after such termination, enter into a new lease ("New Lessee") with Lender as the Lessee. The New Lease shall have a term equal to the remainder to the stated term of the Lease has it not been terminated prior to the end its stated term. The New Lease shall have the same covenants, conditions and agreements (except for any requirements which have been satisfied by Lessee prior to termination) as are contained in the lease. Lessor shall be required to enter into the New Lease only if Lender has remedied and cured all monetary defaults under the lease and has cured or has commenced and is diligently pursing completion of the cure of all non -monetary defaults of Lessee susceptible to cure any party other than by the original Lessee. 5. Lessor agrees that all the provisions set forth in Paragraph 5 of the Lease shall apply to Lender. 6. This consent and agreement shall not operate to change or supercede the terms & conditions of the IeaseAin the event of a conflict)the terms of the lease shall prevail. and 7. Lessor has executed this Lessor's Consent and Agreement for the benefit and protection of Lender with full knowledge that Lender is relying on this Lessor's Consent and Agreement. "Lessor" City of Newport Beach, a chartere unicipal corpration Name: ---Sharon- Wand ------- Title: City Manager (Acting) L:Spcprov\Transpc\Residential Lending\Lessor's Consent Agreement. (City of Newport Beach & Arnold). 060302.doc CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California County of �.J (\� To,%,M, ss. �J�t•� On � ��� � ,before me, %1 �� r 0" Date Name aLd Title of Officer (e.g., "Jane Doe, Notary Pu lic") personally appeared CATHY FISHER LIPCommission # 1341 oog Notary Public - Cafffomia z Orange County Myr Fjinn Feb 21, 2006 Place Notary Seal Above Name(s) of Signer(s) Xpersonally known to me ❑ proved to me on the basis of satisfactory evidence to be the person(K whose name(V(9/are subscribed to the within instrument and acknowledged to me tha,Lbe/(q/they executed the same in his e /their au razed capacity(i, and that by his e their signature(14 on the instrument the person(, or the entity upon behalf of which the person acted, executed the instrument. fITNJ,S my hand an official seal. Sign ture of Notary Public OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document q� p_,, Title or Type of Document: 2.5,3il t ) �Shl �^'� 1 " ►YC r ttn-X Document Date: 1/i y �� Number of Pages: Signer(s) Other Than Named Above: �, ��'�- " 9 c) r7.3 �-0 Capacity(ies) Claimed by Signer Signer's Name: ❑ Individual Top of thumb here ❑ Corporate Officer— Title(s): ❑ Partner — ❑ Limited []General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 0 1999 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 - Chatsworth, CA 91313-2402 - www.nationalnotary.org Prod. No. 5907 Reorder: Call Toll -Free 1-800-876-6827 EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Loan No. 0907320-6 Unit No. 1. Borrower's (Lessee) Name: David L. Arnold and Grace E. Arnold 2. Property Address: 14 BEACON BAY, NEWPORT BEACH, CA 92660 3. Property's Legal Description (if a metes & bounds attach legal): SEE ATTACHED 4. Developer/Condo Homeowners Assoc. (Lessor) Name: BEACON BAY 5. Lease (including all amendments and dates): SEE ATTACHED 6. Borrower (Lessee's) Current Monthly Lease Payment: $ 5,104.17 Payments are current (circle either Yes or No). 7. Deliver notices and payments to Lessor at: CITY MANAGER'S OFFICE, CITY OF NEWPORT BEACH, P.O. BOX 1768, NEWPORT BEACH, CA 92658-8915 8. Term of Lease: 50 Years; commenced on September 18, 2000 Expires on July 1, 2044 If applicable: Pursuant to the Lease, Lessee has the right, at its option, to renew the term of the Lease for NSA consecutive renewal terms of N/A years each. L:Spcprov\Transpc\Residential Lend ing\Lessor's Consent Agreement. (City of Newport Beach & Arnold). 060302.doc ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Property Description Lot 14 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.