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HomeMy WebLinkAboutC-7267-19 - Beacon Bay, 29 - Assignment and Assumption of Lease and Consent 2016RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 G, i ��-70 � _C; I Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder III III I I II I IIII II II II I I I I I I I I I I I I II I I I I II 36.00 *$ R 0 0 0 8 4 4 6 6 5 5$ 20160002663513:27 pm 06/13/16 276 401 A30 C34 F14 7 0.00 0.00 0.00 0.00 18.00 0.00 0.00 0.00 [Exempt from Recordation Fee - Govt. Code Sec. til ujj ASSIGNMENT AND ASSUMPTION OF LEASE AND CONSENT This ASSIGNMENT AND ASSUMPTION OF LEASE AND CONSENT ("Agreement") is made and entered into this _,R day of June, 2016 ("Effective Date"), by and between the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City"), MAUREEN H. PIERCE ("Assignor") and PETER HITCH, TRUSTEE OF THE JOHN D. PIERCE MARITAL TRUST, U/D/T NOVEMBER 30, 2010 ("Assignee"). RECITALS A. On January 3, 2000, the City entered into that certain Lease with Assignor, concerning certain real property commonly referred to as Beacon Bay Lot 29, and as more particularly described on Exhibit "A" attached hereto and incorporated by reference ("Property"), as evidenced by a Memorandum of Lease recorded on January 5, 2000 as Instrument No. 20000005802 in the Official Records of Orange County ("Lease"). B. Concurrently on January 5, 2000, an Interspousal Transfer Deed was recorded as Instrument No. 20000005803, whereby John D. Pierce transferred the leasehold estate interest in the Property to Maureen H. Pierce, a married woman as her sole and separate property. C. On November 28, 2001, without notice to the City, the leasehold estate interest in the Property was transferred from Maureen H. Pierce, a married woman as her sole and separate property, to John D. Pierce and Maureen H. Pierce, Husband and Wife as Joint Tenants, as evidenced by an Individual Grant Deed recorded on November 28, 2001 as Instrument No. 20010851096. D. On December 17, 2010, without notice to the City, the leasehold estate interest in the Property was transferred to John D. Pierce, Trustee of the John D. Pierce Revocable Inter-vivos Trust, u/d/t June 24, 2010 as evidenced by a Trust Transfer Grant Deed recorded on December 17, 2010 as Instrument No. 2010000679745. RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, CA 9 51 c15 -Z( T:�'7) [Exempt from Recordation Fee - Govt. Code Sec. 6103] ASSIGNMENT AND ASSUMPTION OF LEASE AND CONSENT This ASSIGNMENT AND ASSUMPTION OF LEASE AND CONSENT ("Agreement") is made and entered into this � day of June, 2016 ("Effective Date"), by and between the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City'), MAUREEN H. PIERCE ("Assignor") and PETER HITCH, TRUSTEE OF THE JOHN D. PIERCE MARITAL TRUST, U/D/T NOVEMBER 30, 2010 ("Assignee"). RECITALS A. On January 3, 2000, the City entered into that certain Lease with Assignor, concerning certain real property commonly referred to as Beacon Bay Lot 29, and as more particularly described on Exhibit "A" attached hereto and incorporated by reference ("Property"), as evidenced by a Memorandum of Lease recorded on January 5, 2000 as Instrument No. 20000005802 in the Official Records of Orange County ("Lease"). B. Concurrently on January 5, 2000, an Interspousal Transfer Deed was recorded as Instrument No. 20000005803, whereby John D. Pierce transferred the leasehold estate interest in the Property to Maureen H. Pierce, a married woman as her sole and separate property. C. On November 28, 2001, without notice to the City, the leasehold estate interest in the Property was transferred from Maureen H. Pierce, a married woman as her sole and separate property, to John D. Pierce and Maureen H. Pierce, Husband and Wife as Joint Tenants, as evidenced by an Individual Grant Deed recorded on November 28, 2001 as Instrument No. 20010851096. D. On December 17, 2010, without notice to the City, the leasehold estate interest in the Property was transferred to John D. Pierce, Trustee of the John D. Pierce Revocable Inter-vivos Trust, u/d/t June 24, 2010 as evidenced by a Trust Transfer Grant Deed recorded on December 17, 2010 as Instrument No. 2010000679745. E. Upon the death of John D. Pierce, without notice to the City, the leasehold estate interest in the Property was transferred to Peter Hitch, Trustee of the John D. Pierce Revocable Inter-vivos Trust, u/d/t June 10, 2010, as evidenced by an Affidavit — Death of Trustee recorded on March 2, 2011 as Instrument No. 2011000112930. The leasehold estate interest in the Property was ultimately transferred, without notice to the City, to Peter Hitch, Trustee of the John D. Pierce Marital Trust, u/d/t November 30, 2010, as evidenced by a Trust Transfer Grant Deed recorded on June 29, 2011 as Instrument No. 201100316972. F. For financing purposes, Assignor desires to assign all of its right, title and interest in, and duties and obligations under, the Lease to Assignee and Assignee wishes to accept such assignment. NOW, THEREFORE, the parties hereby agree as follows: 1. The City hereby consents to the assignment of Maureen H. Pierce's interest in and to the Lease as an individual, to Peter Hitch, Trustee of the John D. Pierce Marital Trust, u/d/t November 30, 2010. Any further distribution of the Property under the Trust, whereby Maureen H. Pierce is not the sole beneficiary, shall not be considered an exempt transfer, as defined in the Lease. 2. Assignor hereby assigns as of the Effective Date, all of its rights, title and interest, and duties and obligations under, the Lease to Assignee and Assignee accepts such assignment. 3. All of the covenants, conditions, and restrictions of the Lease and set forth herein shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, successors, and beneficiaries. 4. Any successor trustee of the John D. Pierce Marital Trust u/d/t November 30, 2010 shall comply with all provisions of the Lease, including those conditions precedent and fee requirements of Section 4 of said Lease. 5. Any notice required under the Lease shall be made in accordance with Section 21 of the Lease, except notice to Lessee shall, from and after the Effective Date, be made to each of the addresses below: Maureen Pierce 29 Beacon Bay Newport Beach, CA 92660 Justin Pierce 1848 Port Margate PI Newport Beach, CA 92660 Peter Hitch Assignment, Assumption and Consent Agreement Page 2 Peter Hitch 4 Corporate Plaza, Suite 250 Newport Beach, CA 92660 6. This Agreement shall become effective upon recording. [SIGNATURES ON NEXT PAGE] Peter Hitch Assignment, Assumption and Consent Agreement Page 3 IN WITNESS HEREOF, the parties hereto have executed this Agreement as of the day and year first above written. ASSIGNOR Maureen H. Pierce CITY OF NEWPORT BEACH, a municipal corporation By: Dave iff City Manager ATTEST: By.J-P�-J' Leilani I. Brown City Clerk APPROVED A T FORM: By: Cir ) Aaron C. Harp cam ociviII(P City Attorney U c �ORN%P- ASSIGNEE By. Pet r Hitch, Trustee of the John D. Pierce Marital Trust u/d/t November 30, 2010 [END OF SIGNATURES] Owners must sign in the presence of notary public ATTACHMENTS: Exhibit A — Property Description Peter Hitch Assignment, Assumption and Consent Agreement 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 California County of A_)SS. --f�On 20 �o before me, A&Ad CSC{`. Notary Publ' , personally appeared QUr, en it. Pferee , 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 sianatures(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. MELINDA JACK Commission #r 2059102 a Notary Public - California 'Ila ZOrange County 114 My Comm. Expires Feb 24, 2018 Signature —" s 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 &9 CtiyL ss. On X2 310 20 1,b before me Notary P lic, personally appeared proved to me on the basis of satisfactory e iv d cen e 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. VI DA JACK WITNESS my hand and official seal. Commission # 2059102 til Notary Public - California n Orange County My Comm. Ex ires Feb 24, 2018 Sig ture (seal) si� Peter Hitch Assignment, Assumption and Consent Agreement Page 5 CALIFORNIA• • OD Ss.N�.-..:!� .� s�e_.�c_ca.!.,�c_.ae�.!�.,:..<�<�c�..:.c�<_..c�s�c!�a_� ,�-..<...c•�.•:�.�c�c_..-.,;._.•:_..•�.•:=.cam: c_.�c�c•�cc•..,:a..- 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 ©Q_A til (n � ) On JUNE- 2 . 2-0I lQ before me,� fEQ ANN UL\k-i' OT�)k-j R'( Date Here Insert Name and Title of the Officer personally appeared 1aVh Y1 F F Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(4 whose name(e) is/a*e subscribed to the within instrument and acknowledged to me that he/she*my executed the same in his/N e. -authorized capacity(ies); and that by his/herkheit-signature(s) on the instrument the persoR(s), or the entity upon behalf of which the persor4&) 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. JENNIFER ANN MULVEY WITNESS a and official seal. Commission # 2045022 Notary Public - California = Z Orange County 9 Signature zA, My Comm. Expires Oct 12, 2017 Signa Place re of Not ry Public Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Number of Pages: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: L:�✓ti✓4'�6��..��'✓5� '�6�y4�✓,." �.',v�4�.'er •sG'✓ •.:r •er6'��.�.'rr,�4v •✓.'ei�:'✓.'✓6�:��'✓ "✓6V .h-��'.Lz..� v4'L�tidG�'.��.:� ' 02014 National Notary Association - www.NationalNotary.org - 1 -800 -US NOTARY (1 -800-876-6827) Item #5907 EXHIBIT A PROPERTY DESCRIPTION Lot 29 in the County of Orange, State of California, as per shown on record of survey map filed in Book 9, Pages 42 and 43 of Record of Surveys, in the Office of the County Recorder of said County, California, together with certain portions of adjoining lots E and F as shown upon said Map. Peter Hitch Assignment, Assumption and Consent Agreement Page A-1