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Home My WebLink AboutC-7313-11 - Beacon Bay, 63 - Lessor's Consent and Agreement 2013Recording Requested By and When Recorded Return To: City Manager's Office City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 -1 7-A4 tW Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder III I I I I I II I II I III I I I I III II I III II I I I II I I II II �.00 *$ R 0 0 0 6 4 3 2 3 5 8$ 2014000007880 2:53 pm 01108114 62 404 C34 Al2 F14 6 0.00 0.00 0.00 0.00 15.00 0.00 0.00 0.00 THIS SPACE FOR RECORDER'S USE ONLY LESSOR'S CONSENT AND AGREEMENT Recitals Loan No: 117-0215597-1998 NEW LOAN NO: 117-0785806-1998 Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan from Wells Fargo 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 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. 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 Recording Requested By and When Recorded Return To: City Manager's Office City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 19007 I l -AS, WF THIS SPACE FOR RECORDER'S USE ONLY LESSOR'S CONSENT AND AGREEMENT Recitals Loan No: 117-0215597-1998 NEW LOAN NO: 117-0785806-1998 Borrower, referred to in this Agreement as "Lessee" and as more particularly described in Exhibit A, has applied for a loan from Wells Fargo 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 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. 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 1 Loan No: 117-0215597-1998 NEW LOAN NO: 117-0785806-1998 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: Wells Fargo Bank, N.A., P.O. Box 31557, Billings, MT 59107 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. Davi'd* Kiff, City Manager City of Newport Beach Lessor 2 STATE OF CALIFORNIA C0UNrY, OF Loan No: 117-0215597-1998 NEW LOAN NO: 117-0785806-1998 On before me, , personally appeared , personally known to me to be the person whose name is, 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 signature(s) on the instrument the person or the entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal. Signature see &I-tAGtreio Notary Public in and for the State of 3 CALIFORNIA.ACKNOWLEDGMENT CIVIL CODE § 1189 C�Ca� _� .� _�'r�.�_s� _n`!.�'.C_c� .. .�¢�•.�S.�C_.� _.�¢CC� .TS_s��_c�C!cY�.a�_a . ��_.�C_ca¢_saCC_r�C�C.. State of California County of 0R N L� On Q 113 before me, �t�l(�11FiV�- INN '( uuE-`1 Date Here Insert Name and Title of the Officer personally appeared uk\,� E y__k r JENNIFERANN MULVEY Commission # 2045022 Notary Public - California z Orange County My Comm. Expires Oct 12, 2017 Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(g) is/4rk subscribed to the within instrument and acknowledged to me that he/sem/they executed the same in hisftw/tpeir authorized capacity(ie�, and that by his/hoer/Meir signatureW 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 h d and official seal. Place Notary Seal Above Signature: 7 � gnature f otary P 'c OPTIONAL Though this section is optional, completing this information can deter alterat f the document or fraudulent reattachment of this form to an unintended document. Document Date: Description of Attached Document Title or Type of Document: Number of Pages Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: L4'✓4'✓�4'er4v •�' '�6�4�%4�✓4'�'4�.'✓ •e� 'ei4�'n-�. 'y4�ti4'er4'ar4'✓4'si4'ai'.��.4v 'rr4'rr.-✓4•• .-rr�•• 4�, �.. ✓.�..\�.4�4'✓G�4V4 e/4`�.'✓.'✓; tr4•✓6�4� .y4. � 1 • • � • • • • • • ill � �' ill i • •i •1 EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT NEW LOAN NO: 117-0785806-1998 Loan No. 117-0215597-1998 N/A Unit No 1. Borrower's (Lessee) Name: Samuel D. Anderson and Mary Ann H. Anderson, Trustees of the Samuel and Mary Ann Anderson Trust dated March 22, 1979 2. Property Address: 63 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 1F'CoM d 172-q-,,141 6,�, JrM zumfivrf-'+ g4-101475 6. Borrower (Lessee's) Current Monthly Lease Payment Payments are current (circle eithe Yes r No). 7. $ 2,435.00 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 20, 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. Id ATTACHMENT TO EXHIBIT A — LESSOR'S CONSENT AND AGREEMENT Property Description Lot 2 of the eastside addition to Beacon Bay recorded on Official Maps Book 2, Page 30 in the Office of the County Recorder, County of Orange, State of California, sometimes referred to as Beacon Bay Lot 63. 5