HomeMy WebLinkAboutC-7368-13 - Beacon Bay, Lot C (Harbor Island Road, 101) - Lessor's Consent and Agreement 2009`:_C; `DED AT THE R' 'JEST OF
CHICAGO TITLE COMPANY
City Manager's Office
City of Newport Beach
P.O. Box 1768
Newport Beach, CA 92658-8915
This Document, as electronically recorded by
Chica,, _ Title Insurance Co
rded in Official Records, Orange County
Daly, Clerk -Recorder
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2009000261203 04:01 pm 05/22/09
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THIS SPACE FOR RECORDER'S USE ONLY
LESSOR'S CONSENT AND AGREEMENT
Loan No: 684001683673
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, 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
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.
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Loan No: 684001683673
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, N.A., 8228
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.
Homer Blud , City Manager
Lessor
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STATE OF CALIFORNIA
COUNTY OF
Loan No: 684001683673
Y\4
On Q""1 2� ' ZL5D�j , before me, M� C9,Y1.1 1 �f,y1���Q�'1 �j,�,� /'Pt
�. lid a,� I
personally appeared �1W1�12- , personally known t• me
to be the person whose name is subscribed to the within instrument and
acknowledged to me that &77ejt executed the same in his hertthe
authorized capacity.OeS ,' and that byQd0VreFAHeir signatureJ<on the instrument
the person or the entity upon behalf of which the person acted, executed the
instrument.
WITNESS my hand and official seal.
Signature
Notary Public in and"for the State of_ Q3
NOELANI F. IAIDDENWAY
Commission # 1554892
Notary Public California
orange County
My comm. Expires Feb 25, 2009
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3
EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT
Loan No. 684001683673
Unit No.
1. Borrower's (Lessee) Name: Kenneth & Barbara J. Strottman, Trustees of the
Strottman Family Trust dated March 15, 1989
2. Property Address: 101 Harbor Island Road (also referred to as Lot C, 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 $1,593.75
Payments are current (circle either Yes r No).
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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
January 4, 1996;
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.
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ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT
Property Description
Lot C as shown on the map filed in Book 13, Pages 42 of Record of
Surveys in the Office of the County Recorder, County of Orange, State of
California.
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