HomeMy WebLinkAboutC-7423-12 - Beacon Bay, 43 - Lessor's Consent and Agreement 20117- Rewilding Requeste,,.. �y
First American Title
City Manager's Office
City of Newport Beach
P.O. Box 1768
Newport Beach, CA 92658-8915
Recording Requested By:
Zang Recording Services on
Behalf of: ZANG
This D®cument -as electronically recorded by
Zang 1,. -cording Services GG
rded in Official Records, Orange County
Daly, Clerk -Recorder
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THIS SPACE FOR RECORDER'S USE ONLY
LESSOR'S CONSENT AND AGREEMENT
Recitals
Loan No: 1915431181
Borrower, referred to in this Agreement as "Lessee" and as more
particularly described in Exhibit A, has applied for a loan from Union Bank, 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 (City of Newport) is the
lessor.
Agreement
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.
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
Loan No: 1915431181
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, N.A., 3151 E. Imperial
Hwy., Brea, CA 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.
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.
David A. Kiff, City M ager
City of Newport Beach
Lessor
2
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
State of Californiaal,/�
County ofV RAN1�(EF-
On q )zi( 5efore me, lkwA) AAA S1+)N6q Il C
Date Here Insert Name anfi Title of the Offic '
personally appeared LAV
L. WASHINGTON
Commission #t 1840150
Notary Public - California
Z Orange County
My Comm. Expires Mar 12, 2013
Place Notary Seal and/or Stamp Above
who proved to me on the basis of satisfactory
evidence to be the person)( whose name) is/A
subscribed to the within instrument and acknowledged
to me that he/ne/thy executed the same in
his/*/tNir authorized capacity( , and that by
his/[Xr/#i it signature�0 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.
WITNESS my hand a offic21seal.
Signature:
Signature of Notary Public
OPTIONAL
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
Title or Type of Document:
Document Date:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Individual
❑ Partner— ❑ Limited ❑ General
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
Other:
Signer Is Representing:
RIGHT THUMBPRINT
OF SIGNER
Number of Pages:
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Individual
❑ Partner — ❑ Limited ❑ General Top of thumb here
❑ Attorney in Fact
❑ Trustee
❑ Guardian or Conservator
❑ Other:
Signer Is Representing
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EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT
1. Borrower's (Lessee) Name:
Loan No. 1915431181
Unit No
Robert & Julie Thorne, Trustees of the Robert &
Julie Thorne Trust
2. Property Address: 43 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
Payments are current (circle either(Yes r No).
$ 1102.67
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 June 27, 1994;
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.
M
ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT
Property Description
Lot 43 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.
ATTACHMENT TO EXHIBIT A - MEMORANDUM OF LEASE