HomeMy WebLinkAboutC-7309-13 - Beacon Bay, 56 - Lessor's Consent and Agreement 2018Recorded in Official Records, Orange County
RECORDING REQUESTED BY: Hugh Nguyen, Clerk-Recorder
04`e'
201.00
II I I II III I III I III II II I II II
h+ai#s-E�ank-ot'I-ong-Beach *$ R 0 0 1 0 1 7 2 2 8 7$
WHEN RECORDED RETURN TO: 20180002284221:28 pm 06/21/18
232 407 Al2 C34 12
Farmers and Merchants Bank of Long
12515 Seal Beach Boulevard
Seal Beach, CA 90740
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
0.00 0.00 0.00 0.00 33.00 0.00 0.000.00150.00 6.00
[SPACE ABOVE THIS LINE FOR RECORDER'S USE ONLY]
Loan No: 9027011079
LESSOR'S CONSENT AND AGREEMENT
THIS LESSOR'S CONSENT AND AGREEMENT ("Lessor's Consent") is given this ,tl^
day of June 2018, by the CITY OF NEWPORT BEACH, a California municipal corporation
and charter city ("City" and "Lessor"), and acknowledged and agreed to by Gerald
Nicholas Madigan and Maureen O. Madigan ("Borrower" and "Lessee"), on the terms and
conditions outlined below.
RECITALS
A. On March 4, 2003, the City entered into that certain Lease Agreement
("Lease") with Gerald Nicholas Madigan and Maureen O. Madigan, as Lessee,
concerning certain real property located generally at 56 Beacon Bay in the City of Newport
Beach, California ("Property"), as evidenced by a Memorandum of Lease recorded on
March 7, 2003, as Instrument No. 2003000256099 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 Farmers and Merchants Bank of Long
Beach ("Lender") to be secured by the leased Property, as such Property is more
particularly described in Exhibit A.
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Loan No: 9027011079
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 of 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: Farmers and
Merchants Bank of Long Beach, 12515 Seal Beach Boulevard, Seal Beach, California
90740, 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.
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Loan No: 9027011079
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 Lessor's 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]
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Loan No: 9027011079
IN WITNESS WHEREOF, the duly authorized representatives of Lessee and City
have executed this Lessor's Consent effective as of the 24N^ day ofTy , JAe, 2018.
"Lessee"
Ve'Z
BY:�Y
rald Nicholas Madigan
By. aL
Mafqen O. Madigan
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 V[g, n Qjl= }SS.
On 7) L)n ?,—d `6 , 20 before me,
Notary Public, personally appeared
2 1 ichDkS Madiqcin nnd Wyr,--no o. mg , who proved to me on the
basis of satisfactory evi nce to be the person(s) who8b 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 paragrap is rue and correct.
SHANNON M.HEROD
Zure
p a d official seal. Notary Public - California
Los Angeles County z
z > Commission # 2150097 n
My Comm. Expires Apr 23, 2020 ,.
(seal)
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ATTE _j
Leilani I. Brown e(tC
City Clerk
APPR aTO FORM:
0.
�W- Aaron a p �-•b•«
City Attor e
Loan No: 9027011079
"City"
City of Newport Beach,
a California municipal corporation and charter
city
By: \L/U
Da iff
City Manager
LYPo RN:.
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 MAtAL,E } Ss.
On Jul -AE l ST14 , 20 IB before me,
j Q44IFEii2 Ai. M VY\V Ly E`! Notary Public, personally appeared
DA -VF- 11 FF , who proved to me on the
basis of satisfactory evidence to be the person(a) whose name(() is/afe subscribed to the
within instrument and acknowledged to me that he/&4eA4-,e executed the same in
his/he## eif authorized capacity(ia&), and that by his/hefAlgen signatures() on the
instrument the perso*), or the entity upon behalf of which the perso*) 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.
Jaen fer A� nn M Ivey
WITNESS y hand and official seal. ,� NotaPublic - CaCOMM Ili-- a* 38 m
� ry lffornia �
Q ORANGE COUNTY
MY commission Fxpues Oct i2, 7n)i
Signature (seal)
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EXHIBIT "A"
TO
LESSOR'S CONSENT AND AGREEMENT
1. Borrower's (Lessee) Name:
Gerald Nicholas Madigan and Maureen O. Madigan
2. Property Address:
56 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:
$ 3,363.91
7
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.
Loan No: 9027011079
Yes
May 31, 2018
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Loan No: 9027011079
ATTACHMENT 1
EXHIBIT "A"
TO
LESSOR'S CONSENT AND AGREEMENT
Property Description
Lot 56 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.
A.P.N. 988-880-41
Address: 56 Beacon Bay, Newport Beach, California 92660
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ATTACHMENT 2
EXHIBIT "A"
TO
LESSOR'S CONSENT AND AGREEMENT
Memorandum of Lease
Loan No: 9027011079
Page A-3
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` RECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
r
City Manager's Office
City of Newport Beach
3300 Newport Boulevard
9 Newport Beach, CA 92663
This Documents electronically recorded by
Cal Title MV
Recorded in Official Records, County of Orange
Tom Daly, Clerk -Recorder
11101MOINin ff 11 72.00
2003000256099 04:10pm 03107/03
718 4 M114
0.00 0.00 0.00 0.00 6.00 0.00 0.00 0.00
MEMORANDUM OF LEASE (O DDv;Ds �cstiiCY Z'p,,a�rrEfl
TAX Gv�•
t SAID LEc,SO 1S FO
THIS MEMORANDUM OF LEASE is made and entered ina i�b&Wa'Wi..AE CITY
OF NEWPORT BEACH, a chartered municipal corporation, herein called "Lessor", and
r1 Gerald Nicholas Madigan and Maureen O. Madigan, herein called ",Lessee", to witness
\ that:
Lessor hereby leases to Lessee, commencing on X3 and ending on
July 1, 2044, on the terms and c nditlons set forth in that certain lease by,and between
the parties hereto dated mQYn Y, 9&:3 —, all the terms and conditions of which
lease are made a part hereof as though fully set forth herein, all those certain premises
in the County of Orange, State of California, described as follows:
Lot 56 as shown on the map fled in Book 9, Pages 42 and 43 of Record of
Surveys, in the Office of the County Recorder, County of Orange, State of California.
EXECUTED on&gd,'7 90 2003, at Newport Beach, Orange County,
California. No Do0UMMtTAA;1 TRANSFER
TAX DUE. SAID LEASE f8 Foil
LESSOR LESS TW.N ss y-IFIs,
THE CITY OF NEWPORT BEACH
ATTEST:
CITY CLERK
APPROVED AS TO FORM:
10
ee: Gerald Nicholas Madigan
Maureen O.
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ORPNGE Ml;$T4ITLE FaX:7145584892
GOVERNMENT CODE -2736.17
Jan #02 16=14 P.04
i
I CERTIFY UNDER PENALTY OF PERMRY THAT THE ILLEGIBLE PORTION O
TIRS DOCUMET, TO WHICH THIS STATE14iENT IS ATTACHED, READS AS
FOLLOWS:
-.�* -�
PLACE OF EXECUTION: r
DATE OF EXECUTION: -7
SIGNATURE:
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Page 10 of 12
Requested By: , Printed: 10/4/2018 10:05 AM
Document Date;
STATE OF CALIFORNIA )SS
COUNTY of
On ]' b C'CW C4,0. amo'a before me,
personally appeared A N
personally known to me (or proved to me on the basis of salisfactorY evidence) to be the person(s) whose name(s) is/am subscribed to the within instrument
and acknowledged to me that helshe/t$ty executed the same in his/her/their authorized capacity(fes) and that by his1her/their signature(s) on the instrument
the person(s) or the entity upon behalf of which the persons) acted, executed the instrument.
VATNFSS Ilmhand and official se
NANCY R. CRAVM
CCMM. it2MM
Signature sr WrAWPUBUC-CAtrMIM O
02 ORANGE COUN Y ,..
My Caam. B#m FA 20, 2004
to
4�7Fitl Dl?)•
Document Date:
STATE OF CALIFORNIA )SS
COUNTY OF 0AAWAS ) n
On 7,IorugAj •2 ',.9003 before me, Al��,�l� g?. r—i2n- Ve-- `f
personally appeared Gip ^A 1 a 1\i ; 0 i As Ae1(a fa t.3
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose namc(s) is/are subscribed to the within instrument
and acknowledged to me that be/she/ihey executed the same in histher/their authorized capacity(les) and that by hislher/their signatures) on the fnstnu eat
the person(s) or the entity upon behalf of which the person(s) acted. executed the instrument
%handfficial seal. NANCY R. CRAVEN
NOTARYPUSUC-CAUFQRNtASignatto ORANGE COUNTY r»
MIC m. E*=Feb.28.2004
This area for official notarial SC21.
Document Date: 0IM dj1- ('P I ?-,) a 217
STATE OF CALIFNj9 )SS
On %.A 01,% before tae, , { JUC.
personally appeared t_... 4bW.IUI._
personally known to, o be the person whose name si / re subscribed to the within insttumcat
and acknowledged to me tha e/they executed the same is crltheir authorized capacity and that by r. er/their signature(} on the inshnment
the person ,Vor the entity upon behalf of which the personVacted. executed the instrument.
WITNES my hand and official seal
Signature ��
his area for official notarial seal.
CATHY FISHER
COmrnt88101191341 OM
Notary Public - CalNornfa
orange County
Count FV&W Feb 21, 2008 y
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Government code -- 2736.17
ICERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE
DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS
FOLLOWS:
NAME OF NOTARY:
Nancy R. Craven
DATE COMMISSION EXPIRES:
Feb. 28, 2004
COUNTY WHERE BOND IS FILED:
Orange
COMMISSION NO.:
1255039
MANUFACTURER/VENDER NO.:
SIO1
PLACE OF EXECUTION:
Mission Viejo
DATE OF EXECUTION: 3/7/2003
SIGNATURE:
Government code — 2736.17
I CERTIFY UNDER PENALTY OF PERJURY THAT THE ILLEGIBLE PORTION OF
THIS DOCUMENT, TO WHICH THIS STATEMENT IS ATTACHED, READS AS
FOLLOWS: "
PLACE OF EXECUTION:
DATE OF EXECUTION:
SIGNATURE:
Penalty of Perjury Doc.
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