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Home My WebLink AboutC-6296(D) - West Coast Highway, 2751 - Memo of Assignment of Lease and Amendment to MOL 2020Batch 7290556 Confirmation N® �J C� RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Newport Beach City Clerk's Office P.O. Box 1768 Newport Beach, CA 92658-8915 Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder 11 11 11 1 ]1]JI $ 1 fllfjllJll32.00 *$ R 0 0 1 1 9 5 9 2 2 0$* 2020000432087 2:53 pm 08124120 90 RW1A M11 A17 5 0.00 0.00 0.00 0.00 12.00 0.00 0.000.000.00 6.00 SPACE ABOVE THIS LINE FOR ------------ E MEMORANDUM OF ASSIGNMENT OF LEASE AND AMENDMENT TO LEASE MEMORANDUM (2751 West Coast Highway, Newport Beach, CA) THIS MEMORANDUM OF ASSIGNMENT OF LEASE AND AMENDMENT TO LEASE MEMORANDUM ("Memorandum") is made and executed in connection with that certain Assignment and Assumption of Leases dated on or about December 24, 2019 ("Assignment"), by KHOSHBIN'S LANDING, LLC, a California limited liability company, ("Assignor"), and 2751 & 2801 PCH LLC, a Califomia limited liability company ("Assignee"). RECITALS A. GP's Landing, LLC, a California limited liability company, and the City of Newport Beach, a California municipal corporation and charter city ("City") are parties to a certain Lease Agreement with Options for Renewal dated March 1, 2013 ("Lease"), respecting the Tidelands located generally at 2751 West Coast Highway in Newport Beach, California (the "Property""), as evidenced by a Memorandum of Lease Agreement with Options for Renewal recorded on August 26, 2015, in the Official Records of Orange County, California, as Instrument No. 2015000442678. B. Pursuant to an Assignment and Assumption of Leases dated December 22, 2015, GP's Landing, LLC transferred and assigned the Lease to Assignor, subject to approval by the City, which the City approved pursuant to that certain Consent to Assignment of Lease recorded on May 12, 2016, in the Official Records of Orange County California, as Instrument No. 2016000212196, and as further evidenced by a Memorandum of Assignment of Leases and Amendment to Lease Memoranda recorded on May 12, 2016, in the Official Records of Orange County, California, as Instrument No. 2016000212199, the Lease was assigned to Assignor. C. In connection with Assignee's purchase of the Property from Assignor, which closed escrow on or about December 24, 2019, Assignor and Assignee executed the Assignment pursuant to which Assignor assigned to Assignee (and Assignee Page 1 of 4 https://gs.secure-recording.com/Batch/Confirmation/7290556 08/24/2020 RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Newport Beach City Clerk's Office P.O. Box 1768 Newport Beach, CA 92658-8915 SPACE ABOVE THIS LINE FOR RECORDER'S USE MEMORANDUM OF ASSIGNMENT OF LEASE AND AMENDMENT TO LEASE MEMORANDUM (2751 West Coast Highway, Newport Beach, CA) THIS MEMORANDUM OF ASSIGNMENT OF LEASE AND AMENDMENT TO LEASE MEMORANDUM ("Memorandum") is made and executed in connection with that certain Assignment and Assumption of Leases dated on or about December 24, 2019 ("Assignment"), by KHOSHBIN'S LANDING, LLC, a California limited liability company, ("Assignor"), and 2751 & 2801 PCH LLC, a California limited liability company ("Assignee"). RECITALS A. GP's Landing, LLC, a California limited liability company, and the City of Newport Beach, a California municipal corporation and charter city ("City") are parties to a certain Lease Agreement with Options for Renewal dated March 1, 2013 ("Lease"), respecting the Tidelands located generally at 2751 West Coast Highway in Newport Beach, California (the "Property""), as evidenced by a Memorandum of Lease Agreement with Options for Renewal recorded on August 26, 2015, in the Official Records of Orange County, California, as Instrument No. 2015000442678. B. Pursuant to an Assignment and Assumption of Leases dated December 22, 2015, GP's Landing, LLC transferred and assigned the Lease to Assignor, subject to approval by the City, which the City approved pursuant to that certain Consent to Assignment of Lease recorded on May 12, 2016, in the Official Records of Orange County California, as Instrument No. 2016000212196, and as further evidenced by a Memorandum of Assignment of Leases and Amendment to Lease Memoranda recorded on May 12, 2016, in the Official Records of Orange County, California, as Instrument No. 2016000212199, the Lease was assigned to Assignor. C. In connection with Assignee's purchase of the Property from Assignor, which closed escrow on or about December 24, 2019, Assignor and Assignee executed the Assignment pursuant to which Assignor assigned to Assignee (and Assignee assumed from Assignor) all of Assignor's right, title, interest, and obligations under the Lease. D. On or about Amll- Z. ) i , 2020, City consented to the Assignment by and between Ass=ZY d Assignee pursuant to a certain Consent to Assignment of Lease recorded on, 2020, and recorded in the Official Records of Orange County, California, as Instrument No. 2.021%OY?D 2- 3D which shall be further evidenced by this Memorandum to be immediately recorded thereafter. AGREEMENTS NOW, THEREFORE, in order to memorialize and give notice of the Lease and the Assignment thereof, the parties acknowledge and agree as follows: 1. Purpose of Memorandum. This Memorandum is being recorded to place the public on notice of the terms and provisions of the Lease, which terms and provisions are hereby incorporated by reference into this Memorandum, and of the Assignment. In the event of any conflict between the terms and conditions of this Memorandum and the Lease, the terms and conditions of the Lease shall prevail. 2. Amendment of Lease Memorandum. The Memorandum is amended such that the "Lessee" identified therein shall mean and refer to Assignee from and after the date of recording of this document. 3. Counterparts. This Memorandum may be executed in one or more counterparts, each of which shall be deemed an original, but all which together shall constitute but one and the same instrument. [SIGNATURES ON FOLLOWING PAGE] 2751 & 2801 PCH LLC Page 2 IN WITNESS WHEREOF, the duly authorized representatives of Assi n�or, Assignee and City have executed this Memorandum effective as of the �oday of ff-I _ , 2020. "Assignor" KHOSHBIN'S LANDING, LLC a California limited liability company By: The Khoshbin Co., Inc., a California corporation, its Manager a By: Manuchehr Khoshbin President 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 6~4 )SS. On A4a!;t il 4 2020 before me, C ehrt/;'�4- A,4yej.e� Notary Public, personally #ppearE(d Manacl4thi - 1rh&sAh)1 1 `J , who proved to me on the basis of satisfactory evidence to be the person(s) whose 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 paragraph is true and correct. WITNESS my hand and official seal. JENNIFER NGUYEN COmmifBion No. 2M758 �n� NOTARY PUBLIC -CALIFORNIA Y f\ _ .. _ ORANGE COUNTY SignaTre 2751 & 2801 PCH LLC Page 3 "Assignee" 2751 & 2801 PCH LLC a California limited Iia ility ompany By: Craig Starbuck Atkins, III, Trustee of The Craig Starbuck Atkins III Revocable Trust, dated November 19, 2004, its sole Member 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 VAVIOC }ss, On M0\1 II UID before me, hchwy omYo, Notary Public, personally appeared CYO15 CVVVACk Ak:*A& III , who proved to me on the basis of satisfactory evidence to be the personM whose name( is/aTo subscribed to the within instrument and acknowledged to me that he/st*/th)& executed the same in his/1'Kr/tf�6ir authorized capacity(io), and that by his/hAr/thKr signaturesp) 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 foregoinq paragraph is true and correct. WITNESS my hand and official seal. Signature ASHLEY SCHROEDER COMM, #2204632 z i Notary Public • California o 1 Orange County Comm. Expires July 13, 2021 (seal) 2751 & 2801 PCH LLC Page 4 APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: aron Harp City Att ney ATTEST: IV A; Date: pC� c Leilani 1.1Yrown City Clerk «City„ CITY OF NEWPORT BEACH, a California municipal corporation Date: 5.2 civ, ZO Gra . Ceung C" anager 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 op qt'( (mac }ss. On M R'i 7 LV ,ZOZO before me, J =NNI FEK ANN MV--'JF-q, Notary Public, personally appeared &124Ac.0 LEV 1r.1(, , who proved to me on the basis of satisfactory evidence to be the person(&) whose name(&) is/a*e subscribed to the within instrument and acknowledged to me that #e/she/twiiy executed the same in hi&4her/ter authorized capacity(4a&), and that by cher/t4sii; signatures(.&) on the instrument the personks), or the entity upon behalf of which the persorjs) 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 pm7 hand and official seal. Sign 0 � ,Jenn Jennifer A Mulvey .::: ,�;� 2, COMM #2214138 a LU "� Notary Public -California ORANGE COUNTY :r; » My Commission E P_111_10d_11_11 1_11 � (seal) 2751 & 2801 PCH LLC Page 5