HomeMy WebLinkAboutC-7435-2 - Beacon Bay, 51 - Assignment of Lease 1985ASSIGNMENT OF LEASE
In consideration of the mutual promises herein and in order
to more accurately reflect the ownership interest of the assignor
and assignees herein, S.E. BRIGGS AND SON, INC., a California
corporation,hereby sells, transfers, and assigns, to ROBERT O.
BRIGGS and GERI G. BRIGGS, husband and wife, all of its right,
title, and interest in and to the lease executed between THE CITY
OF NEWPORT BEACH, as landlord, and S.E. BRIGGS AND SON INC., as
tenant, covering the entire premises located at #51 Beacon
Bay, Newport Beach, California. This assignment includes the
rights to all prepaid rent and security deposits under the lease.
Attached hereto and made a part hereof are the following:
(1) The Resolution of the City Council of the City of
Newport Beach, California, approving the agreement to lease
Beacon Bay Residential lots, (Resolution No. 10040);
(2) Agreement to Lease, between the City of Newport Beach
and S.E. Briggs and Son, a California Corporation, entered into
on October 1, 1981;
(3) Lease between the City of Newport Beach and Lessee to be
effective on January 1, 1988, and marked Exhibit "C", in item
(2) above;
(4) Legal description of Beacon Bay, marked Exhibit "1" [to
Exhibit "C", item (3) above]•
(5) Legal description of #51 Beacon Bay, Newport Beach,
California, marked Exhibit "2" [to Exhibit "C", item (3) above];
(6) Document entitled DECLARATION OF COVENANTS, CONDITIONS
AND RESTRICTIONS BEACON BAY COOMMUNITY ASSOCIATION, marked
Exhibit "3" [to Exhibit "C", item (3) above];
(7) Document entitled Effective Rental Value Change With
Assumed 12% Per Year Increase, marked Exhibit "D" [to item (2)
above].
Dated: �j , 1985
S.E. nRIGGS"Apb SON, INC.
by ROBERT O. BRIGGS, PRESIDENT
1.
In consideration of the mutual promises herein, and in order
to more accurately.reflect the ownership interest of the assignor
and assignees herein, ROBERT 0. BRIGGS and GERI G. BRIGGS hereby
accepts the assignment of such lease, subject to all of the
terms, covenants and conditions in the lease. ROBERT 0. BRIGGS
and GERI G. BRIGGS covenants and agree to faithfully keep and
perform each and all of said terms, covenants, and conditions of
the lease.
Dated: `'1985
ROBERT 0. BR GGS
RI G. IG
In consideration of the premises and covenants on the part
of ROBERT 0. BRIGGS and GERI G. BRIGGS, assignees under the above
assignment and acceptance, the CITY OF NEWPORT BEACH hereby
consents to the above assignment.The assigment herein shall not
result in a increase in the lease payments to be paid by ROBERT
0. BRIGGS and GERI G. BRIGGS to the CITY OF NEWPORT BEACH.Consent
to this assignment is subject to all of the terms, covenants and
conditions contained in the lease, and shall not be deemed a
consent to any future assignment of the lease.
Dated: 1985
CITY OF NEWPORT BEACH,
a municipal corporation
APPROVED AS TO FORM:)
BY Wfta�f-
CAR6L
KORADE
E