HomeMy WebLinkAboutC-8187-3 - San Clemente Drive, 850 & 856 - Estoppel Certificate (Vivante Senior Living)ESTOPPEL CERTIFICATE
March 19, 2020
CITY OF NEWPORT BEACH
100 Civic Center Drive
Newport Beach, California 92660
949 644-3131 1 949 644-3139 FAX
newportbeachca.gov/cityattorney
Vivante Newport Center, LLC Bank of America, N.A.
1 MacArthur Place 520 Newport Center Drive
Suite 300 Suite 1100
Santa Ana, CA 92707 Newport Beach, California 92660
Attn: Rob Eres Attention: Cynthia Goodfellow
Telephone: (949) 546-5600 Telephone: (949) 287-0452
Re: Estoppel Certificate - Development Agreement executed by and between the City of Newport
Beach ("City") and Vivante Newport Center, LLC ("Owner") regarding Vivante Senior
Living located at 850 and 856 San Clemente Drive, Newport Beach, California (APN 442-
261-05 and 442-261-17) ("Property")
To Whom It May Concern:
The undersigned City of Newport Beach ("City"), a California municipal corporation and charter city,
understands that Vivante Newport Center, LLC, a Delaware limited liability company ("Owner") is
fee simple owner of the Property and has obtained a construction loan from Bank of America, N.A.,
as Administrative Agent for certain lenders, which is secured by a Deed of Trust encumbering the
Property, more particularly described in the Development Agreement. Capitalized terms used and
not otherwise defined herein shall have the meanings set forth in the Development Agreement.
Pursuant to Section 14.5 of the Development Agreement, the undersigned City does hereby certify to
the best of its knowledge:
1. The "Development Agreement" means that certain Development Agreement between
City of Newport Beach and Vivante Newport Center, LLC concerning Vivante Senior Living,
850 and 856 San Clemente Drive dated as of September 10, 2019, executed by and between
Owner and City and recorded in the Official Records of Orange County, California (the
"Official Records") on December 14, 2019, as Instrument No. 2019000506951;
2. The Development Agreement is in full force and effect and is binding on the City and
Owner;
3. The Development Agreement has not been amended or modified either orally or in
writing; and
4. Owner is not in Default in the performance of their obligations under the Development
Agreement and no event or situation has occurred that, with the passage of time or the giving
of Notice or both, would constitute a Default.
APPROVED AS TO FORM:
CITY ATTORN + Y'S OFFICE
Date: --31
By:
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Aaron arp
City A rney
ATTEST: 2
Date: 3 0
, 1.Awjo
am
Leilani I. Brown
City g$416 '
CITY OF NEWPORT BEACH,
a California municipal corporation
Date: 2,3-2--2-v
By: J-�U�
Seimone Jurjis
Community Dev pment Director