The URL can be used to link to this page

Home My WebLink AboutC-6208(C) - Beacon Bay, 49 - Lessor's Consent and Agreement 2010u RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City Manager City of Newport Beach P. O. Box 1768 Newport Beach, CA 92658-8915 TITLE OF DOCUMENT: LJ Recorded in Official Records, Orange County Tom Dal , Clerk -Recorder 11111111111N111V 1111111111111111111gW1119111111111 NO FEE 201000005166610:10 am 02/02110 37 415 C34 Al2 6 0.00 0.00 0.00 0.00 16.00 0.00 0.00 0.00 S SPACE FOR RE4 'S USE ONLY. Exempt Recording Request per Government Code 6103 Lessor's Consent and Agreement • City Manager's Office City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 THIS SPACE FOR RECOROERB USE ONLY LESSOR'S CONSENT AND AGREEMENT Loan No. 1080679045 Recitals Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan from J. P. Morgan Chase and Company, N.A., 601 Oakmont Lane, Ste. 300, Westmont, IL 60559 ("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 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. To the best of Lessor's knowledge at this time, Lessor has no claims outstanding against Lessee in connection with the Property. Loan No: 1080679045 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: J. P. Morgan Chase and Company, N.A., 601 Oakmont Lane, Ste. 300, Westmont, IL 60559, 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 of 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 first 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 non -monetary defaults of Lessee susceptible to cure by any party other than by the original Lessee. 5. This consent and agreement shall not operate to change or supercede the terms and conditions of the lease. In the event of a conflict, the terms of the lease shall prevail. LESSOR: CITY OF NEWPORT BEACH, A Municipal Corporation By:_ I�V— ") Dave Kiff City Manager 2 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California/rn County ofyPrl DA-AJ6 O U� n before me, Uw t:%jm�yki Dae ^� _ Here Insert Name and Title of the Officer personally appeared L. WASHINGTON con Ilion ! 1N0150 ve Notary poo . CWornia Dept cool ft 12.-20413J Place Notary Seal Above who proved to me on the basis of satisfactory evidence to be the person(kwhose name) is/, subscribed to the within instrument and acknowledged to me that he/*E/tidy executed the same in his/t*r/*ir authorized capaclty(iis), and that by his*r/t�r signature�4 on the instrument the perso*, or the entity upon behalf of which the person 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 f 'cial seal. Signat e Signature of Notary Public OPTION, 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 /p,, ��G A }}— Title or Type of Document: %(,� li M50V r � ACRBF "J Document Date: Ne, Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Individual ❑ Corporate Officer —Title(s): — El Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: RIGHTTHUMBPRINT OF SIGNER Number of Pages: Signer's Name: ❑ Individual ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing RIGHTTHUMBPRINT OF SIGNER Top of thumb here rr4•✓ •✓4"er 'L: ar4�6 /•✓4'-.•r4'u4"✓6 4"✓6 4'✓4"U4 �'4 L4�,.', . "-4v: ✓4•.✓'4`✓.•✓' "✓' -�6"✓4"✓4"✓41A4�",r.4"✓ ✓/".r4 4�✓4 4"✓4"z6�✓4"i/.�".r.4"✓4"rra O 11 • •. It• '• 1 • 1 •. •• •1 ••• :11: .4.A EXHIBIT A -- LESSOR'S CONSENT AND AGREEMENT Loan No. 1080679045 Unit No, 1. Borrower's (Lessee) Name: John E. Viola 2. Property Address: 49 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: $3,600 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 January 8, 2010 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 i ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Property Description Lot 49 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