HomeMy WebLinkAboutC-7267-18 - Beacon Bay, 29 - Lessor's Consent and Agreement 2001N,ov-21-01. 01:43Pm From- T-337 P.03/06 F-404 _),V"
RECORDING REQUCSTLD BY
INVESTORS TITLE COMPANY
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
CITY MANAGER'S OFFICE
CITY OF NEWPORT BEACH
P.O. BOX 1768
NEWPORT BEACH, CA 92658-8915
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Recorded in Official Record, County of Orange
Gary Granville, Clerk -Recorder
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YHIS SPACE FOR RKORDEA'S U" ONLY
LESSOR'S CONSENT AND AGREEMENT
Recitals
Loan No.: 03-2090-005871936--6
Borrower, referred to in this Agreement as `Lessee" and as more particularly
described in Exhibit A, has applied for a loan from ❑ Washington Mutual Bank ❑
Washington Mutual Bank fsb W Washington Mutual Bank, FA ("Lender") -o 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 entird 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 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
of 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.
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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: Washington Mutual
Bank, Collection Support MS: N010201, 9451 Corbin Ave, Northridge, CA 91324,
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 Lease") with Lender as the
lessee. The New Lease shall have a term equal to the remainder of the stated term of the
Lease had it not been terminated prior to the end of 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
pursuing completion of the cure of all nonmonetary defaults of Lessee susceptible to cure
by any party other than by the original Lessee.
5. This consent & agreement shall not operate to change or supersede the
terms & conditions of the lease and in the event of ' conflict, the s of the lease shall
prevail. /
/� Lessor
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33A= (ft" l.o) HEAOOSI SAY
NOU-21-2001 14:34 P,04
Nov -21-01, 01:43pm From -
STATE OF Wt�) il/11
ss.
COUNTY OF rol!
T -337 P,05/06 F-404
Loan No. 03-2090-005871936-6
On 0vmkX( before me, V • 106 personally appeared
�. personally known to me for proved to me on
the basis of satisfactory evidence) to be the person*hose name()are subscribed to
e within instrument and acknowledged to me that e she/they executed the same in
hi her/their authorized capacity(*) and that by 5ch
her/their signature* on the instrument
t e person or the entity upon behalf of w the person acted, executed the
instrument.
WITNESS my hand and official seal.
Signature M&V" V , S/" .
Notary Public in and for the State of rA1 LLD(✓bihl
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EXHIBIT A - TO LESSOR'S CONSENT AND AGREEMENT
Loan No. 03-2090-005871936-6
unit No.
Borrower's (Lessee) Name:
MAUREEN H. PIERCE
,
2, Property Address: 29 BEACON BAY, NEWPORT E
EACE CA q2660
g, Property's Legal Description (if a metes & bounds attach legal):
4. Developer/Condo Homeowners Assoc. (Lessor) Name: BEACON BAY COMMUNITY ASSOC.
5. Lease (including all amendments and dates): Dated 1/5/00 between Maureen
Pierce (lessee) and CITY OF NEWPORT BEACH (lessor) for Beacon B (lease attached)
6. Borrower (Lessee's) Current Monthly Lease Payment: $ 916.67 Payments are
current (circle either Yes)or No).
RT
CITY MANAGER'S OFFICE, CITY OF NEWPO
7. Deliver notices and payments to Lessor at:
BEACH, P.O. BOX 1768, NEWPORT BEACH CA 92658-8915
8. Term of Lease: 50 YEARS Years; commenced on 1-9-2000
expires on July 1 4
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 _�/ A Years each
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