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Home My WebLink AboutC-8514-7 - Beacon Bay, 64 - Lessor's Consent and Agreement 2017RECORDING REQUESTED BY: Premier America Credit Union WHEN RECORDED RETURN TO: Premier America Credit Union 19867 Prairie Street Chatsworth, CA 91311 WITH A COPY TO: City of Newport Beach City Clerk's Office 100 Civic Center Drive P.O. Box 1768 Newport Beach, CA 92658-8915 [SPACE ABOVE THIS LINE FOR RECORDER'S USE ONLY] Loan No: 17513 LESSOR'S CONSENT AND AGREEMENT THIS LESSOR'S CONSENT AND AGREEMENT ("Lessor's Consent") is given this day of July 2017, by the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City" and "Lessor"), and acknowledged and agreed to by JOHN M. WALZ AND BARBARA C. WALZ, ("Borrower" and "Lessee"), on the terms and conditions outlined below. RECITALS A. On June 29, 1994, the City entered into that certain Lease Agreement ("Lease") with John M. Walz and Barbara C. Walz as Lessee, concerning certain real property located generally at 64 Beacon Bay in the City of Newport Beach, California ("Property"), as evidenced by a Memorandum of Lease recorded on December 7, 1994, as Instrument No. 94-0701476 in the Official Records of Orange County. B. Borrower, referred to in this Lessor's Consent and as more particularly described in Exhibit A, has applied for a loan from Premier America Credit Union ("Lender") to be secured by the leased Property, as such Property is more particularly described in Exhibit A. Page 1 Loan No: 17513 NOW, THEREFORE, the City does hereby consent to the assignment of Lessee's interest in and to the Lease to Lender under a Leasehold Deed of Trust, subject to the following: 1. The Property is subject to the Lease described above and in "Exhibit A", attached hereto. 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. 2. Lessee has satisfied the provisions of Section 5 of the Lease, and Lessee confirms that it will ensure Lender contemporaneously provides Lessor with any notices of default and notices of foreclosure Lender sends to Lessee as a result of Lender allowing Lessee to use Lessee's interest in the Property as collateral for the refinancing obligations contemplated herein. 3. Lessee acknowledges that any leasehold mortgage now or hereafter placed on Lessee's interest in the Property shall be subject and subordinate to any limitations in the Tidelands Grants, Lessor's interest in the Tidelands, the Lease, and any mortgage now in existence on the leasehold estate. Lessee shall not use, encumber or transfer this Lease or the Property as security or collateral for any action unless directly related to the permitted uses allowed by the Lease. 4. Lessee acknowledges this Lessor's Consent and the provisions of Section 5 of the Lease do not give any entity the right to mortgage, hypothecate, cause a transfer of, or otherwise encumber or cause any liens to be placed against the Lessor's ownership interest in the Property and trustee of the tidelands, nor shall anything in this Lessor's Consent or the Lease be construed as resulting in a subordination in whole or in part of Lessor's interests. 5. 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: Premier America Credit Union, 19867 Prairie Street, Chatsworth, California 91311, 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. 64 Beacon Bay Page 2 Loan No: 17513 6. Should Lessee be in default of the Lease, the Lease shall continue upon satisfaction of the terms, conditions, requirements, and procedures set forth in Section 5(E) of the Lease. 7. This consent and agreement shall not operate to change or supersede the terms & conditions of the Lease in the event of a conflict, the terms of the Lease shall prevail. [SIGNATURES ON FOLLOWING PAGE] 64 Beacon Bay Page 3 Loan No: 17513 IN WITNESS WHEREOF, the duly authorized representatives of Lessee and City have executed this Lessor's Consent effective as of the�2>�ct day of)2017. "Les 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 ('(,,✓L4 }ss. On 71,t�4 3 ; , 20 17 before me, 1� IJ ,McVt_r-_j , Notary Public, personally appeared lOnn Wo I z " ret C i'j)PC , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/& subscribed to the within instrument and acknowledged to me that he/shedNe74 executed the same in his/herd authorized capacity(ies), and that by his/h ye' 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. WITNESS my hand and official seal. ignature (seal) AMBERK MEVERS NotaryPublic- California < Los Angeles County a Commission # 2177813 [ My Comm, Expires Det 31, 2020 64 Beacon Bay Page 4 Loan No: 17513 "City" City of Newport Beach, a California municipal corporation and charter city By: Da ff IQ City Manager ATTEST: -y' " A AA2 rini . Brown City C erk APPRO ED AS TO FORM: Aar C. Har (AM DYIVAP CI y ttorney 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 0P-11AM & I- } ss. On pvc,us-r ► , 20 1'1 before me, .AENN%y-Ln— V%-%VLVE`l Notary Public, personally appeared DA VC. k1 fF , 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 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. WITNE§A my hand and official seal. Sign 64 Beacon Bay JENNIFER ANN MU EY Commission # 2045022 = Notary Public - California z Z '`'- Orange County My Comm. Expires Oct 12, 2017 (seal) Page 5 EXHIBIT "A" Loan No: 17513 LESSOR'S CONSENT AND AGREEMENT 1. Borrower's (Lessee) Name: John M. Walz, Barbara C. Walz 2. Property Address: 64 Beacon Bay, Newport Beach, CA 92660 3. Property Description: See Attachment 1 — Property Description. 4. Lease (including all amendments and dates): See Attachment 2 - Memorandum of Lease. 5. Borrower (Lessee's) Current Monthly Lease Payment: $ 860.42 0 7 E -*3 Payments are current (Yes or No): Through: Deliver notices and payments to Lessor at: City of Newport Beach Attn: Real Property Administrator 100 Civic Center Drive P.O. Box 1768 Newport Beach, CA 92658-8915 Term of Lease: Fifty (50) years Expires on: July 1, 2044 Options: None. Yes July 2017 64 Beacon Bay Page A-1 Loan No: 17513 EXHIBIT A "ATTACHMENT 1" Property Description Lot 3 of the eastside addition to Beacon Bay recorded on Official Maps Book 2, Page 30 in the Office of the County Recorder, County of Orange, State of California. A.P.N. 050-212-12 Address: 64 Beacon Bay, Newport Beach, California 92660 64 Beacon Bay Page A-2 Loan No: 17513 EXHIBIT A "ATTACHMENT 2" Memorandum of Lease 64 Beacon Bay Page A-3 DOC # 94-0701476 RECORDING REQUESTED BY 07—i1EC-1994 11258 AM AND WHEN RECORDED RETURN TO: City Manager's Office Recorded in Official Records City of Newport Beach of Orange County:, California 3300 Newport Boulevard Lee A.. 'Fan, , Cuunt 2e_order Newport Beach, CA 92663 ; Paye 1 of 2 lees= $ 14.000 � MEMORANDUM OF LEASE - Tz, . 0.00 This MEMORANDUM OF LEASE is entered into as of the �_ day of June 1994, by and 02- bgtween THE CITYjnjF NEWPORT BEACH, a chartered municipal corporation ("Lessor"), and ✓�17 !0,A r hAvA It - WAL ("Lessee"), to witness that Les r and L sseeee executed a lease dated T 1, 19 -4 �, a memorandum of which was recorded on t ( 19 as Instrument No. 013$ in the Official Records of Orange Cou . By said lease, the Real Property described below was leased to Lessee until July 1, 2006. The parties agree to terminate said lease as of the Commencement Date set forth below, and to discharge and release each other from all obligations under sald lease as of said date (other than delinquent rent or other charges, if any, owed by Lessee pursuant to said lease as of the termination). Lessor hereby leases to Lessee, commencing on July 1, 1994 (the "commencement Date"), and ending on July 1, 2044, on the terms and conditions set forth in that certain lease by and between the parties hereto executed concurrently herewith, all the terms and conditions of which are made a part hereof as though fully set forth herein, those certain premises in the City of Newport Beach, County of Orange, State of California (the "Real Property"), described as follows: Lot 3 of the eastside addition to Beacon Bay recorded on Official Maps Book 2, Page 30 in the Office of the County Recorder, County of Orange, State of California, sometimes referred to as Beacon Bay Lot 64. IN WIT written. ATTEST: City Clerk 0'(/ __ APPROVED AS TO FORM: G� ity Attorney STATE OF CALIFORNIA COUNTY OF ORANGE have executed this Memorandum of Lease as of the date first about LESSOR: On June 24 , 1994, before me, Wl", 0. 5• a Notary Public in and for said State, personally appeared JoAn M. Walz, R rbare. C. Wats , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is 3r subscribed to the within instrumeM and acknowledged to me that t e executed the same in Ms4� hei authorized capacltyCle.,y and that by his�l�ignature s®on the instrument the persona or the entity upon behalf of which the persore acted, executed the instrument. WITNESS my hand and fficial seal. Signature (Seal) Monica S COMM #1013469 h cNOTARY PUBLIC CALIFORNIAMS' c ORANGE COUNTY �i STATE OF CALIFORNIA ) comm E*res Jan 13.1"# COUNTY OF ORANGE ) Gepkan�6dr On dune tl , 1994, before me, a Notary Public in and for said State, personally appeared ClaLreytee -r. Twrv%er , personally known to me (or proved to me on the basis of satisfactory evidence) to be_113e person(s) whose nameW 3ilam ubscrbed to the within instrument and acknowled ed to me that(119P31ieftey executed the same i hl her/tbeir authorized capacity(+es); and that b hi herAhelr signature(sy on the instrument the person*, or the entity upon behalf of which the persons} acted, executed the instrument. WITNESS my hand and official seal. SignaturEI*3fflf)jti�Et S (Seal) 11` ` ( Monica S. Kutz 0 Comm #1013469 e: NOTARY PUBLIC CALIFORNIA'/ !. ORANGE COUNTY C Comm Expires Jan 13. 1$9.1 }