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HomeMy WebLinkAboutC-7341-10 - Beacon Bay, 5 - Lessor's Consent and Agreement 2001 & 2003City Manager's Office City of Newport Beach ,9 P.O. Box 1768 Newport Beach, CA 92658-8915 M Documens electronically recorded by Fidelity Mional Major Accounts rded in Official Records, County of Orange Daly, Cleric -Recorder 22.00 2003000837335 09:39 am 07/16103 42 C34 A92 6 0.00 0.00 0.00 10.00 0.00 0.00 0.00 THIS SPACE FOR RECORDER'S USE ONLY LESSOR'S CONSENT AND AGREEMENT �Loan No: 0023659 623 Recitals Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan from Wells Fargo Home Mortgage, Inc.("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. 11"140TUFAIS PNSi N11814 �Y T!N r5m, Q� ITSTHT AY BE DESt�tiBBE. 'ROPER Loan No: 0023651623 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 pari 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: Wells Fargo Home Mortgage, Inc., P.O. Box 10304, Des Moines, lA 50306-0304, 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 Loan No: 0023651623 STATE OF CALIFORNIA COUNTY OFiS� OnObefore me, personally appeared personally known to me to be the person whose name is subscribed to the within instrument and acknowledged to me that he helthey executed the same in hi Iherltheir authorized capacity (j, and that by is/ er/their signature(fon the instrument the person or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal. =Y6 Commission #1341009 Notary Public - Callicmis Orange County MyComm. Expires Feb 21,2006 Sig natureQ. `s Notary Public in and for the State of 3 Government Code 27361.7 I certify under the penalty of perjury that the notary seal on this document read as follows: Name of Notary: Date Commission Expires: County where bond is Filed: Commission No.: Manufacturer/Vendor No.: Cathy Fisher February 21, 2006 Orange 1341009 NNA1 Place of execution - Newport Beach P." z V) �to FIDELITY NATIONAL TIT E COMPANY Date - July 11, 2003 EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Loan No. 0023651623 Unit No. 1. Borrower's (Lessee) Name: John L. Curci, Trustee of the John L. Curd Family Trust 2. Property Address: 5 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: $2,403.33 Payments are current (circle eith 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 Expires on July 1, 2044 July 1, 1994 If applicable: Pursuant to the Lease, Lessee has the right, at its option, to renew the terms of the Lease for N/A consecutive renewal terms of N/A years each. 4 0 0 ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Property Description Lot j 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. RECORDING REWESTED BY AND WHEN RECORDED MAIL T0: City Managers Office City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 k M Vat' Lo YwS SPAM foM WORMS UCG ONLY LESSOR'S CONSENT AND AGREEMENT Loan No.: 43-0664-006351966-4 Recitals 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 ® Washington Mutual Sank, FA ("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 €ui( 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. Page 1 of 4 32$U pW 46Wl %&A= HAY Loan No. 03-0664-006351966-4 3, Lessor consents to the granting of a security interest in Lessee's interest in the Lease to Lender. Lessor agrees s defauttend cor Lessor's Intent to terminate the Lease or oncurrently to Lender copies Of anY notices sent to Lessee pertaining to Lessee agree any pan thereof by certified U.S. mail. No defication or termination of the written consent of Lender. Notice upon by Lessee shalt be effective without theexpress will be provided to Lender by certified mail at the following address: Washington Mutual Ave, Northridge, CA 91324, Sank, Collection Support MS: N010201,E hibit A or1 Corbin at such other address given to the referencing the Loan Number set forth an 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. �. This consent & agreement shall not operate to change oe supereede the terms & conditions of the lease and in the event of a conflict, the terms of the lease shall prevail. CA-. L Lessor Page2of4 3]toR(IV4M DZ=M ■AY 0 STATE OF rv4l& SS. COUNTY OF Or� _ 0 Loan No. '03-0664-006351966-4 On W,before me, �.#'ii t�tY!! r • l , !personally appeared -IM*f , ; personalty known to me (or proved to me on rhe basis of sats actory evidence) to be the person se name�j re subscribed to within instrument and acknowledged to me hat she/they executed the some in er/their authorized capacitylk and that by is air/their signature{s] on the instrument the person or the entity upon behalf of w iah the petson� acted, executed the instrument. �'1► WITNESS my hand and official seal. Signature V'• Ab Notary Public In and for the State ofnil LE11AN! V lN1:5 CommisfQn # 1170960 a No -cry Public - C011fornta 3 Orange County My C, -mm. ExpiresJon25, 2007 Page 3of4 MOOM4."iitl►m"y 11 E EXHIBIT A -70 LESSOR'S CONSENT AND AGREEMENT Loan No. 03-0664-006351966-4 Unit No. JOHN L. CURCLtrustse of the John L. Curci 1. Borrower's (Lessee) Name: Family Trust 2. Property Address: 5 BEACON BAY NEWPORT BEACH, CA 92660 S. property's Legal Description (if a metes & bounds attach legal): SEE ATTACHED 4. Developer/Condo Homeowners Assoc, tLessor) Name:. THE CITY OF NEWPORT _BEACH,_ A CHARTERED MUNICIPAL CORP- S. Lease (including all amendments and dates): BEACON BAY Lease dated 7-1.-1994 (Attached) 6. Borrower (Lessee's) Current Monthly Lease Payment: 4 2,403.33 payments are current (circle either Yes or No). 7. Deliver notices and payments to Lessor at: CITY MANAGER ' s OFFICE, CITY of NEEMRT BEACH, 3300 NEWPORT BLVD., NBWPORT BEACH, CA 92663 8. Term of Lease: 50 Years; commenced on juLY 1, 1994 expires on JULY 1, 2044 if applicable., Pursuant to the anseauti es renewal termsright, of at ITS N/A option, to renew aheterm s each.of the Lease for r„ Page 4 of 4 3=AW.s M3"VoxsAY . .1 EXHIBIT "ONE" Lot 5 and the Southeasterly 10 feet of Lot 4, in the City of Newport Beach, County of Orange, State of California, as shown on a map filed in Book S, Pages 42 and 43 of Record of Surveys in the Office of the County Recorder of Orange County, California. • EXHIBIT "TWO" 0 Order No. 30033527 A leasehold as created by that certain lease. dated July k, 1994, executed by The City of Newport Beach, a chartered municipal corporation , as lessor, and John L. Curci, Trustee of the John L. Curci Family Trust, as lessee, as referenced in the document entitled "Memorandum of Lease", which recorded June 30, 1995, instrument/File No. 95-281173, of Offidial Records, for the term, upon and subject to all the provisions contained in said bocument, and in said lease.