HomeMy WebLinkAboutC-7408-15 - Beacon Bay, 3 - Lessor's Consent and Agreement 2012City Manager's Office
City of Newport Beach
P.O. Box 1768
Newport Beach, CA 92658-8915
Recorded in Official Records, Orange County
Renee
I�1��IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�IIIII'lllltl 24IX
21IlgO711132 3:Egn12112113
117 406 C34 Al2 5
0.00 0.00 0.00 0.00 12.00 0.00 0.00 0.00
THIS SPACE FOR RECORDER'S USE ONLY
LESSOR'S CONSENT AND AGREEMENT
Loan No: 8903
Recitals
Borrower, referred to in this Agreement as "Lessee" and as more
particularly described in Exhibit A, has applied for a loan from Val -Chris
Investments, 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 (City of
Newport) 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.
City Manager's Office
City of Newport Beach
P.O. Box 1768
Newport Beach, CA 92658-8915
THIS SPACE FOR RECORDER'S USE ONLY
LESSOR'S CONSENT AND AGREEMENT
Loan No: 8903
Recitals
Borrower, referred to in this Agreement as "Lessee" and as more
particularly described in Exhibit A, has applied for a loan from Val -Chris
Investments, 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 (City of
Newport) 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.
1
Loan No: 8903
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: Val -Chris Investments, Inc., 2601 Main
Street, Suite 280, Irvine, CA 92614 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 to 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 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.
�l
DavW A. Kiff, City Manag r
City of Newport Beach
Lessor
0
STATE OF CALIFORNIA
COUNTY OF ¢
Loan No: 8903
On 'ne_c _ ko, before me, aA ( ocp--4 ,
personally appeared 14-:J �4 , who proved to me on the
basis of satisfactory evidence to be the persons whose name(s)'dDare
subscribed to the within instrument and acknowledged to me that she\they
executed the same in SAher\their authorized capacity(je , and that by
fWher/their signature) 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.
M. LOCEY [
Commission * 1864451
WITNESS my hand and official seal. Notary Public -California m
Orange County
M Comm. Ex ires Oct 7, 2013
Signature (seal)
3
EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT
Loan No. 8903
Unit No.
1. Borrower's (Lessee) Name: Paul A. Ramsey and Florence Patricia Ramsey, Trustees
of the Ramsey Family Revocable Trust established 1/17/1995
2. Property Address: 3 Beacon Bay, Newport Beach, CA 92660
3. Property's Legal Description (if a metes & bounds attach legal): See Attached
4. Developer/Condo Homeowners Assoc.: Beacon Bay
5. Lease (including all amendments and dates): See attached memorandum.
6. Borrower (Lessee's) Current Monthly Lease Payment $ 2,630.00
Payments are current (circle eithe 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 March 14, 1997
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.
rd
ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT
Property Description
The Northwesterly 45 feet of Lot 3 and the Southeasterly 10
feet of Lot 2, in the City of Newport Beach, County of
Orange, State of California, as shown on a Record of Survey
map recorded in Book 9, Pages 42 and 43 of Record of
Survey's in the office of the county recorder of said county.
5