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HomeMy WebLinkAboutC-7266-5 - Beacon Bay, 19 - Lessor's Consent and Agreement 2008 & 2003'RECORDING REQUESTED BY LAWYERS TITLE City Manager's Office City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 is Document"s electronically recorded by Law Title Company B corded in Official Records, Orange County m Daly, Clerk -Recorder I[IIIIIIIIIIII IIII111111111111111111111 1111111111111 18.00 2008000359579 04:30pm 07/28/08 392A125 l0 0.00 0.00 0.00 12.00 0.00 0.00 0.00 II THIS SPACE FOR RECORDER'S USE ONLY LESSOR'S CONSENT AND AGREEMENT Y Loan No: 1775264185 Recitals Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan from Union Bank of California, NA ("Lender) to be secured by leased property, as such property is more particularly described in Exhibit A ("Property"). Lessee currently holds or c 1 will acquire upon consummation of the pending transaction, a leasehold interest `V under the lease described in Exhibit A ("Lease") in which the undersigned t� ("Lessor") is the lessor. Agreement 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: 1775264185 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: Union Bank of California, NA, 3151 East Imperial Hwy., Brea, CA 92821, 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. Homer Bludau, CIK Manager Lessor 2 ALL-PURPOSECALIFORNIA • :.�N„�N=iN=Y✓Of;%7�SG'•�t/��:>Y7�< � ✓:�v:�r�t�Tvc]�$� �� �/'>.�/%>.+'�.'%>4'..�.<�.=»��iC:%7.✓%��L.'\c/=�<!s'\vri:� ..rte. fir/=�il7a • :..�'.\L� ��G:� �%1 State of California County of 0 before me, t-1u� Aly f-rl6r) i4e7em �i2, x[y P U Dat Hare Insert Nemo and T,lle f the 01flcer personally appearedj:kYLeL8&-JJ6,qL,1 Nem l Stgn who proved to me on the basis of satisfactory evidence to be the person whose name is4'q subscribed to the within instrument and acknowledged to me that he/'W/t%executed the same in his/V`APK.authorized 4WgsHk� 952capacit), and that by his/Fy�i HKsignatureWon the CWV0h* 11 instrument the person or the entity upon behalf of NotaY °yam L1'0O�which the person_ d, executed the instrument. my 6Xpkq&Mar6,2 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. Signa re WITNESS m han d offic I seal. Place Notary Seal Above lura of Notary Aublic QPTMA 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 Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(fes) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer—Title(s): _ ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Individual ❑ Corporate Officer --- Title(s): I'llelm ❑ Partner --❑ Limited ❑ Genera! _ AR• ❑ Attorney in Fact • - Top of thumb here ❑ Trustee Top of thumb here ❑ Guardian or Conservator ❑ Other: Signer Is Representing: !G�!G\�i G�r1<\:J, R�!G�G`:GC�.G�:LC✓_.L�✓.G�L�J,L�.':L\�C�G�G�G`:GAG\•J,L\✓1:G�;/GIUG�%G�✓.G�✓,G�G�✓•L�✓.C�.G�_✓,G�'✓,G��'/,G�!G�%G��'/. G�✓.L�G\;!G�✓. ti✓GV^� EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Loan No. 1775264185 Unit No. 1. Borrower's (Lessee) Name: Sheryl Gerrie 2. Property Address: 19 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): Dated June 30, 1994, between The City of Newport Beach and Sheryl S. Genie TTEE FBO Wallace & Sheryl Gerrie Family Trust UTAID7/1/82 6. Borrower (Lessee's) Current Monthly Lease Payment $1,625.00 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 6/30/94; 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. 4 + r r M • ATTACHMENT TO EXHIBIT A -- LESSOR'S CONSENT AND AGREEMENT Property Description Lot 19 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. s RECORDING REQ1kfs rVi FIRST AMERICAN " nLE %SI�RA�l�.' COMc�A�^ �• ` Recorded in Official Records, County of Orange City Managers Office Tom paiy, Clerk -Recorder City of Newport Beach 14 .00 P.O. Box 1768 20Q3001135326 04OM 09116103 Newport Beach, CA 92658-8915 jig 92 C34 5 0.00 0.00 0.00 0.00 0.00 0.00 8.00 THIS SPACE FOR RECORDER'S USE ONLY ECOPY LESSOR'S CONSENT AND AGREEMENT Recitals Loan No: 1195012180 Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan from Union Bank of California, N.A. ("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 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: 1195012180 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: Union Bank of California,8155 Mercury Court, San Diego, CA 92111, 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. Lessor 2 STATE OF CALIFORNIA COUNTY OF OPAGI' • Loan No: 1195012180 On a. �i 2003 before me, � + �� personally appeared MDA L. �a11i , personally known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that hhshelthey executed the same in (hiserltheir authorized capacity (i), and that by (9/her/their signatureKon the instrument the person or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal. LEILANI 1. BROWN Commission # 1338873 z z -r' Notary Public- Caiffomia Orange County My Comm. emirs` JaA 25, 2006 Signature4.4401 (lam Notary Public in and for the State of 3 EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Loan No. 1195012180 Unit No. 1. Borrower's (Lessee) Name: Sheryl S. Gerrie 2. Property Address: 19 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: $1,625.00 Payments are current (circle eithe 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 June 30, 1994; 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. 4 1 i � ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Property Description Lot 19 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.