HomeMy WebLinkAboutC-7139-2 - Beacon Bay, 37 - Lessor's Consent and Agreement 2018RECORDING REQUESTED BY:
American First Credit Union
WHEN RECORDED RETURN TO:
American First Credit Union
6 Pointe Drive, Suite 400
Brea, CA 92821
Attn: Paula Ginter
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: 1000236998
LESSOR'S CONSENT AND AGREEMENT
THIS LESSOR'S CONSENT AND AGREEMENT ("Lessor's Consent") is given this
day of May 2018, by the CITY OF NEWPORT BEACH, a California municipal
corporation and charter city ("City" and "Lessor"), and acknowledged and agreed to by
Eric and Evelyn Lowey, Trustees of the Lowey Trust dated 05/16/1996 ("Borrower" and
"Lessee"), on the terms and conditions outlined below.
RECITALS
A. On February 8, 2013, the City entered into that certain Lease Agreement
("Lease") with Eric and Evelyn Lowey, Trustees of the Lowey Trust dated 05/16/1996, as
Lessee, concerning certain real property located generally at 37 Beacon Bay in the City
of Newport Beach, California ("Property"), as evidenced by a Memorandum of Lease
recorded on February 13, 2013, as Instrument No. 2013000090575 in the Official Records
of Orange County, California.
B. Borrower, referred to in this Lessor's Consent and as more particularly
described in Exhibit A, has applied for a loan from American First Credit Union ("Lender")
to be secured by the leased Property, as such Property is more particularly described in
Exhibit A.
Page 1
Loan No: 1000236998
CONSENT & AGREEMENT
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 7 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
7 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: American First Credit
Union, 6 Pointe Drive, Suite 400, Brea, California 92821, 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.
37 Beacon Bay Page 2
Loan No: 1000236998
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 7
of the Lease.
7. This consent and agreement shall not operate to change or supersede the
terms and conditions of the Lease in the event of a conflict, the terms of the Lease shall
prevail.
[SIGNATURES ON FOLLOWING PAGE]
37 Beacon Bay Page 3
Loan No: 1000236998
IN WITNESS WHEREOF, the duly authorized representatives of Lessee and City
have executed this Lessor's Consent effective as of the day of , 2018.
"Lessee"
By: L��
_ .
Eric Lowey
Trustee of the Lowey Trust dated
05/16/1996
By:
Evelyn Low
Trustee of the Lowey Trust dated
05/16/1996
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 012"GE }ss.
On M Al -1 , 20 I before me,
5Es51 c s Kn1-+iiLl tic (012D a uD Notary Public, personally appeared
M1(- LbwC-y froh qyE"N l,ow 64 , 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.
WITNESS my h
Signatu
and official seal.
E• ,_°. ryF^ JESSICA KATHERINE ORA
Notary Public -California
Z
i �. = •Y c Orange County D
Commission a 2232549
My Comm. Expires Mar 24, 2022
(seal)
37 Beacon Bay Page 4
ATTS:
i j
L(Ellani 1. Brown
City Clerk
AP VED AS TO FORM:
n C. Harp
City Attor�ley�
Loan No: 1000236998
"C ity"
City of Newport Beach,
a California municipal corporation and charter
city
By:
Dave Kiff
City Manager
6:9Foa"i
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 ORIARUE } SS.
On IM iA Y %1 2018 before me,
Ire NNIFe%Z ANN rv\y%-ys-1 Notary Public, personally appeared
DAV E V�%FF who proved to me on the
basis of satisfactory evidence to be the persons whose name q) is/afe subscribed to the
within instrument and acknowledged to me that he/&hefthey executed the same in
hisA4efi4ha r authorized capacity(ie*, and that by his/he theivr signatures(e) on the
instrument the persor4&), or the entity upon behalf of which the person48) 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.
WITNESSVand and official seal.
Signature
Jennifer nn Mulvey
COMM #2214138 m
ry
LU NotaPublic California z
ORANGE COUNTY
My Commission ExpiresOct.12,1021
(seal)
37 Beacon Bay Page 5
Loan No -.1000236998
EXHIBIT "A"
LESSOR'S CONSENT AND AGREEMENT
1. Borrower's (Lessee) Name:
Eric and Evelyn Lowey, Trustees of the Lowey Trust dated 05/16/1996
2. Property Address:
37 Beacon Bay, Newport Beach, California 92660
3. Property Description:
See Attachment 1 — Property Description
4. Lease (including all amendments and dates):
See Attachment 2 - Memorandum of Lease
5
C
7
Borrower (Lessee's) Current Monthly Lease Payment:
$ 3,841.31
Payments are current (Yes or No): Yes
Through: March 31, 2018
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: February 8, 2063
Options: None
37 Beacon Bay Page A-1
Loan No: 1000236998
EXHIBIT A
"ATTACHMENT 1"
Property Description
Lot 37 as shown on the map filed in Book 9, Pages 42 and 43, Record of Surveys in the
Office of the County Recorder, County of Orange, State of California.
APN: 988-893-39
Address: 37 Beacon Bay, Newport Beach, California 92660
37 Beacon Bay Page A-2
Loan No: 1000236998
EXHIBIT A
"ATTACHMENT 2"
Memorandum of Lease
37 Beacon Bay Page A-3
F�EOUESTED BY
Recording Requested By
and When Recorded Return To:
City of Newport Beach
3300 Newport Beach Blvd.
P.O. Box 1768
Newport Beach, California 92658-8915
Attn: City Clerk
Recorded in Official Records, Orange County
Renee Ramirez, Assistant Clerk -Recorder
IIIII I I Illlll III Illli II II IIIII II II IIIII IIIII Illl IIII II II I II I !IIII NO FEE
*$ R 0 0 0 5 5 9 3 1 0 4$
201300009057512:20 pm 02113/13
117 4021VH I 5
0.00 0.00 0.00 0.00 12.00 0.00 0.00 0.00
(Exempt From Recording Fees Pursuant to Government Code § 27383)
(SPACE ABOVE THIS LINE FOR RECORDER'S USE)
DT -T.-# 1,8$1.OD MEMORANDUM OF LEASE
THIS LEASE is made and entered into between the City of Newport Beach, a
California municipal corporation and charter city ("Lessor") and Eric and Evelyn Lowey,
Trustees of the Lowey Trust dated 05/16/1996 ("Lessee").
Lessor hereby leases to Lessee that real property located in the City of Newport
Beach, County of Orange, California, described in Exhibit "1" attached hereto
("Property"). The term of the Lease is fifty (50) years, commencing February �, 2013
and ending February ?, 2063.
This Lease is subject to the terms, conditions and provisions of an unrecorded
lease between the parties dated February B , 2013, which is incorporated herein by
reference. Unless extended by a recorded amendment or supplement hereto, this
Memorandum of Lease will automatically terminate as of February 8 , 2013.
[SIGNATURES ON NEXT PAGE]
Recording Requested By
and When Recorded Return To:
City of Newport Beach
3300 Newport Beach Blvd,
P.O. Box 1768
Newport Beach, California 92658-8915
Attn: City Clerk
(Exempt From Recording Fees Pursuant to Government Code § 27383)
75 CI ,C (SPACE ABOVE THIS LINE FOR RECORDER'S USE)
D'i T Isis I u7 MEMORANDUM OF LEASE
THIS LEASE is made and entered into between the City of Newport Beach, a
California municipal corporation and charter city ("Lessor") and Eric and Evelyn Lowey,
Trustees of the Lowey Trust dated 05/16/1996 ("Lessee").
Lessor hereby leases to Lessee that real property located in the City of Newport
Beach, County of Orange, California, described in Exhibit 1" attached hereto
("Property'). The term of the Lease is fifty (50) years, commencing February , 2013
and ending February'j� , 2063.
This Lease is subject to the terms, conditions and provisions of an unrecorded
lease between the parties dated February P; , 2013, which is incorporated herein by
reference. Unless extended by a recorded amendment or supplement hereto, this
Memorandum of Lease will automatically terminate as of February 2013.
[SIGNATURES ON NEXT PAGE]
APPROVED AS TO FORM:
OFFICE OF THE CITY ATTORNEY
Date:
By: C r
Aaron Har
City Attorney dt�
ATTEST:
Date: '
C By:
Leilani I. Brown
City Clerk
CITY OF NEWPORT BEACH,
A California municipal corporation
Dater _
By:
David Ki
City Manager
LESSEE��
Date:
Eric Lowey, Trustees'
Lowey Trust dated 05/16/1996
Date: t 1,3
Evelyn Lowey, `trustee
Lowey Trust dated 05/16/1996
[END OF SIGNATURES]
2
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
STATE OF CALIFORNIA }
COUNTY OF
On ;� ' D-- _ cow U/' , befor me;v • % I)%14&—N7✓t
personally appeared 1�-7Z/6 Lz1 V)9AJn/ / JLIV a, , Notary Public,
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 signaturem
s) on the instruent the
persori(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
1 certify under PENALTY OF PERJURY under, -the laws of the State of California that the foregoing paragraph is true and
correct.
S. AR MENTA
WITNESS my hand and of6ct seal. Commission # 196387o
Notary Public -California Zz
Orange County
Signature _ (Seat) My Comm. Expires Dec 16, 2015
OPTIONAL SECTION
CAPACITY CLAIMED BY SIGNER
Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on
the documeht.
[ ] Individual
[ ] Corporate Officer(s)
Title(s)
[. ] Partners) , [ ) Limited [ ] General
] Attomey-In-Fact .
[ ] Trustee(s)'
[ ) Guardian/Conservator
[ 1 Other
SIGNER IS REPRESENTING:
Name of Person or Entity Name of Person or Entity
OPTIONAL SECTION
Though the date requested here is not required by law, it could prevent fraudulent reattachment of this form_
THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED BELOW
Title or Type of Document:
Number of Pages:
Signer(s) Other Than Named Above:
Date of Document:
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
STATE OF CALIFORNIA)
COUNTY OF ORANGE )
On February 7, 2013 before me, M Locey, Notary Public, personally appeared David
Kiff who proved to me on the basis of satisfactory evidence to be the person whose
name is subscribed to the within instrument and acknowledged to me that he executed
the same in his authorized capacity, and that by his signature on the instrument the
person, 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.
M. LOCEY
Commission # 1864451
WITNESS my hand and official seal. Notary Public - California
Orange County
My Comm. Expires Oct 7, 2013
kt/�_ Ler� (SEAL)
Notary Public in and for said ate
OPTIONAL INFORMATION
Title or Type of Document:
Memorandum of Lease
EXHIBIT "1"
LEGAL DESCRIPTION OF THE PROPERTY
That certain real property located in the City of Newport Beach, County of
Orange, California, described as follows:
Lot 37 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.
-t-