HomeMy WebLinkAboutC-4070 - Termination of Affordable Housing Agreement for Villa PointRECORDED AT REQUEST OF,
AND WHEN RECORDED MAIL TO:
City of Newport Beach
Attn: City Clerk
3300 Newport Blvd.
P.O. Box 1768
Newport Beach, CA 92658 -8915
Recorded in Official Records, orange County
Tom Daly, Clerk - Recorder
III NO NO FEE
2011000301062 1035 am 06/21/11
227 415 T01 6
0.00 0.00 0.00 0.00 15,00 0.00 0.00 0.00
This document is exempt from recording fees
per Govt. Code § 27383
WHEREAS, the City of Newport Beach, a California municipal corporation ( "City ") and the
Irvine Company, a Delaware corporation ( "Irvine ") entered into an affordable housing agreement
for Villa Point on January 31, 1990, with official document recording number 90- 069298
("Agreement"); and
WHEREAS, under the Agreement Irvine contracted to provide affordable housing units for
a period of twenty years to mitigate the development of a multifamily residential project of 138
dwellings units at 1200 East Coast Highway, Newport Beach, California as described in Exhibit "A"
which is incorporated by reference herein; and
WHEREAS, Irvine elected to provide the affordable housing units at an offsite location
commonly referred to as the Baywood Apartment Project described in Exhibit "B" which is
incorporated by reference herein; and
WHEREAS, Irvine's obligation to provide affordable housing units under the Agreement
expired on April 1, 2010.
NOW, THEREFORE, the City does hereby terminate Irvine's obligation to provide
affordable housing units under the Agreement and removes this affordable housing unit obligation
as a matter affecting title to the Baywood Apartment Project described in Exhibit "B."
IN WITNESS WHEREOF, this instrument is duly executed this _day of May, 2011.
APPROVED AS TO FORM:
OFFICE OF THE CITY ATTORNEY
Leonie Mulvihill,
Assistant City Attorney
ATTEST:
By:
L i I rown,
City Clerk
CITY OF NEWPORT BEACH,
A Municipal Corporation
David Kiff, .
City Manager
STATE OF CALIFORNIA
COUNTY OF
On S 1 l-7 20 t 1. , before me, YV— LDC.9-y , the
undersigned Notary Public in and for said County and State, personally appeared
pt�js a A 1c1 9 who proved to me on the basis of satisfactory evidence to be
the person(,aywhose name(5&are subscribed to the within instrument and acknowledged to me
that `she /they executed the same inkier /their authorized capacitykie , and that by
(:T�iher /their signature(s} on the instrument the person(,sfi or the entity upon behalf of which the
person(g) acted, executed the instrument.
certify under PENALTY OF PERJURY under the laws of the State of California thatthe foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
M LOCEY
commlasloeai 1864451 NOtary Publ
Notarq Poblic:- California
Orange County
M comm. Ez Irea Oct 7, 2013
EXHIBIT " A39
LEGAL D.ESCR,7PTI:ON OF THE PROPERTY
BACK BAY DRIVE TOGETHER WITH THAT PORTION OF PARCEL I OF PARCEL
MAP NO. 19 -704, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE', .
STATE OF CALIFORNIA,.. AS SHOWN ON MAP FILED IN .BOOK 15.2,. PAGES 17
THROUGH 20, INCLUSIVE, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY DESCRIBED AS A WHOLE AS FOLLOWS:
BEGINNING AT THE MOST SOUTHERLY CORNER OF SAID BACK BAY DRIVE
3.6.00. FEET WIDE, AS SAID DRIVE IS SHOWN ON SAID .PARCEL MAP 79-
704; THENCE ALONG THE SOUTHWESTERLY LINE OF SAID BACK DAY DRIVE
NORTH 25 028'21" WEST 31.0.03 FEET; THENCE ALONG THE NORTHWESTERLY
LINE OF SAID BACK BAY DRIVE NORTH 64 °31'39" EAST 36.00 FEET TO
THE MOST NORTHERLY CORNER OF SAID BACK BAY DRIVE, SAID CORNER
BEING ALSO A POINT ON THE NORTHWESTERLY LINE OF SAID PARCEL 1;
THENCE. ALONG NORTHWESTERLY LINE NORTH 5'B °34115" EAST 105.00 :FEET;
THENCE. SOUTH 13016'5,5" EAST 328.81 FEET TO A POINT ON THE
SOUTHEASTERLY LINE OF SAID PARCEL 1; THENCE ALONG THE
SOUTHEASTERLY LINE OF SAID PARCEL 1 AND SAID BACK BAY DRIVE SOUTH
64054'33" WEST 71.00 FEET TO THE POINT OF BEGINNING.
EXHIBIT "B15
LEGAL DESCRIPTION OF THE HAYWOOD APARTMENT PROJECT
PROPERTY .SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF ORANGE,
CITY OF NEWPORT BEACH, 'DESCRIBED MORE PARTICULARLY AS PARCEL MAP
RECORDED IN BOOK 189, PAGES 6 THROUGH 16 OF PARCEL MAPS, IN THE
OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
EXHIBIT B TO AFFORDABLE HOUSING AGREEMENT
101989 14BB11 -04