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HomeMy WebLinkAboutC-1472(A) - Purchase of property, Police substation facilityCITY OF NEWPORT BEACH TO: FINANCE DIRECTOR FROM: City Clerk SUBJECT: Contract No. 1472 CALIFORNIA City Hall 3300 W. Newport Blvd, Area Code 714 673 -2110 DATE April 25, 1973 Description of Contract A�reenent for purchase and sale of Police Substa on site on JxltOrne Road Authorized by Resolution No. 7783 , adopted on 8 -21 -72 Effective date of Contract October 23, =972 Contract with The Irvine Canpany Address 500 Newport Center Drive Bead- CA 92660 Amount of Contract S198,G95.G0 + 7 c ty e.c SAS TIAOO ESCROW CCIMPNY 500 NEWPORT CENTER WIVE - sui -rE 4S5 • NEWPORT EIEWH, CALIFORNIA 92660 PHONE 714-644 -5111 TO City of Newport Beach 3300 Newport Boulevard Newport Beach, California 92660 Attn: Laura Lagios L J DA--E April 17, 1973 RE: Newport Beach Police Facility Jamboree Road Our Escrow No. 1651 Enclosed herewith you find an original executed copy of that Agreement for Purchase and Sale Under Threat of Eminent Domain dated October 23, 1972. Thank you. Marta LaVeau Escrow Officer BY DATE SIGN ED`�` - _ ' ESCROW NO. 1651 -JM jq Escrow Receipt i C, 4 5 v Newport Beach, California Date Nov. 7, 1972 Received from City of Newport Beach Bank Name Bank No. Account No. Check Check Cash Cashier's Check $ 39,619.00 Union Bank 90 -2688 45500 0011 Above funds to be credited to the account of City of Newport Beach (Police Facility) and used in accordance with escrow instructions to SANTIAGO ESCROW COMPANY. FOAM 107 -11 -69 SANTIAGO ESCROW COMPANY By v Margaret Trower SANTIAGO ESCROW 500 Newport Center Dr., Suite 455. Newport Beach, Calif. 97660 (714) 644 -5111 COMPANY To: City of Newport Beach 3300 Newport Blvd. Date: February 7, 1973 Newport Beach, California 92660 We enclose: i Escrow Statement ) Check # Escrow No. 1651 payable to your order for S ( X) Policy of Title Insurance No. 387084 for $ 198,095.00 , dated Feb. 1 , 19Z3_ issued by: 1 Note for $ Security Title Insurance dated 19—, executed by in favor of interest adjusted to: 19—. ( ) Insurance policies as follows: Amount Company Number Expiration date ( ) Other Items: Recorded documents to which you are entitled will be mailed to you by the County Recorder. Any other documents to which you are entitled will be sent you as soon as they are available. COUNTY TAXES ON REAL PROPERTY BECOME DELINQUENT AS FOLLOWS: First Installment after December 10, and Second Installment after the following April 10. If Buyer does not receive a Tax Bill one mon pr to the delinquency date, a written request for same should be made to the County Tax Collector; inclu egaj de3oriptiQn. Where Lenders impound funds for payment of taxes they usually secure the tax bill. Our files indicate the followinq: A payment of $ A payment of $ 116 10 -69 is due on is due on Receipt of the above enclosures is hereby acknowledged. held for collection held for collection Very truly yollfs, ; Santiago Escrow Company Please return the signed copy of this form to the Sender and retain the other copy. An envelope is enclosed for your convenience. ESCROW STATEMENT 1* • RE: POLICE FACILITY SITE 500 Newport Center Dr., Suite 455 Newport Beach, Calif. 92660 (714) 644 -5111 Statement of CITY OF NEWPORT BEACH Escrow Number Date February 1, 1973 SANTIAGO ESCROW COMPANY LOT: TRACT: Recorded: February 1, 1973 ITEMS DEBITS CREDITS _ CONSIDERATION: Sale ( X) Loan ( ) 198.095 00 Deposited 41,792 08 Paid Outside of Escrow Trust Deed in favor of Trust Deed in favor of Seller Unsecured Note Balance of Encumbrance of Record _1_58 476_00 ADJUSTMENTS: Interest on $ @ % from to Taxes $ 4,239.80 for 12 Months from 2/1/73 to 7/1/73 Insurance $ , Premium yr /s from to Community Assn. @ $ from to Rents $ Per from to Impounded Funds Held By Lender PAID TO TITLE COMPANY: Title Policy 654 75 654 75 Documentary Stamps On Deed Exe t Recording: Deed ( ) Trust Deed ( ) Reconve ance ( ), Exer Lo t _ Title Polic 25,000 liability) l I Commission Escrow Fee 91S nn Drawing Documents Notary Fees Insurance Endorsements Service Fee: Beneficiary's Statement ( ) Demand ( 1 New Loan ( ) LENDER'S LOAN CHARGES: Loan Fee $ , Appraisal Fee $ , Tax Service $ Interest @ % from to Lender's Forwarding Fee — Beneficiary's Statement PAYMENT OF ENCUMBRANCES: Demand of Principal $ Interest @ % from to $ _ Reconveyance Fee $ Prepayment Charge $ Forwarding Fee _ $_ I 6 ff 75 16r,5 0 Our Check To Balance 2 : F. U U TOTALS 2 0 0.9 2 2,8 3 ;M 200,922 183 200,922 83 1 1 0 10 -69 41.702,E 15845F.,i(i 6t 4.75 J 2 0 0.9 2 2 8 3 AGREEMENT FOR PURCHASE AND SALE UNDER THREAT OF EMINENT DOMAIN �7 THIS AGREEMENT FOR PURCHASE AND SALE made as of this �c day of 1972, by and between the CITY OF NEWPORT BEACH, a municipal corporation, hereinafter referred to as "Buyer ", and THE IRVINE COMPANY, a West Virginia corporation, hereinafter referred to as "Seller ": RECITALS Seller is the owner of certain real property as described on Exhibit "A" attached hereto and made a part hereof by this reference. Buyer wishes to acquire said property as a site for a police facility, and to this end has adopted a resolution authorizing the exercise of the power of eminent domain for its acquisition. The parties hereto mutually desire to provide for the purchase and sale of said property upon mutually acceptable terms to avoid necessity of an action in eminent domain. An_DL'F mvvm 1. Seller hereby agrees to sell to Buyer, and Buyer hereby agrees to buy from Seller, that certain parcel of real pro- perty located in the State of California, County of Orange, City of Newport Beach, more particularly described in the attached legal description marked Exhibit "A" and incorporated herein by this reference, and as delineated on Exhibit "B ", attached hereto and incorporated herein by this reference. 2. Seller agrees to allow Buyer a credit against the purchase price for the subject property in the amount expended by Buyer to obtain a standard CLTA Owners Title Insurance Policy insuring the City as vestee. Conveyance shall be subject to the following: (a) Real property taxes for the fiscal year 1972 -73; (b) Covenants, conditions, restrictions and public utility easements of record as of the date of said deed; N -1- 0 r (c) Reservation in favor of Seller and its successors and assigns of all oil, gas, petroleum and other hydro- carbon substances in and under the option property, together with all necessary and convenient rights to explore for, develop, produce, extract and take the same, subject to the express limita- tion that any and all operations for the exploration, development, production, extraction and taking of any of said substances shall be carried on at levels below the depth of five hundred (500) feet from the surface of said land by means of wells, derrick and /or other equipment from surface locations on adjoining or neighboring land, and subject further to the express limitation that the foregoing reservation shall in no way be interpreted to include any right of entry in and upon the surface of the land hereinabove described. It is understood by the parties that the above stated reservation is expressly subject to all restrictions and regula- tions concerning the drilling for and production of oil, gas, petroleum, and other hydrocarbon substances, which are contained in the City Charter or the municipal ordinances of the City of Newport Beach; (d) If at any time within twenty -five (25) years from the date of the deed, Buyer shall propose to sell or lease all or any portion of the subject property, whether voluntarily.or by eminent domain, Seller shall have the option to purchase the property to be sold, at the original purchase price, prorated on an acreage basis in the event of a proposed sale or lease of only a portion of the subject property. Buyer shall notify Seller in writing of its intent to make bona fide sale or lease, precisely describing the parcel to be sold or leased, and Seller shall have thirty (30) days in which to notify Buyer if it wishes to exercise its option. If Seller shall exercise said option, an escrow for the purchase shall be opened within five (5) days which escrow shall have the term thirty (30) days. Buyer shall convey title to Seller subject only to those matters of record as of the date of the deed and subsequent matters to which Seller shall have given its consent. The parties shall each pay one -half (1/2) the cost -2- tiF RL> ti 1 FRE • i of escrow, and Buyer shall pay for a CLTA Owners Policy of Title Insurance and documentary tax stamps, if required; (e) The Agreement for Purchase and Sale under Threat of Eminent Domain, dated September 15, 1969, between Buyer and Seller, for the conveyance of land to be used by Buyer as the location of a municipal center is rescinded, and Buyer agrees to reconvey said municipal center property to Seller upon close of escrow for the police facility, and Seller agrees to cancel the Pro- missory Note dated September 15, 1969, in the amount of $1,834,500.00. Buyer further agrees to obtain, at his sole expense, a standard CLTA Owners Title Insurance Policy insuring the Seller as Vestee. Conveyance shall be subject to covenants, conditions, restrictions and public utility easements of record as of the date of said Deed. The close of escrow on the police facility transaction is subject to the approval by Seller of the preliminary title report on said municipal center property. If Seller does not approve the pre- liminary title report, then subject transaction may be terminated at Seller's option. 3. The purchase price for the subject property shall be One Hundred Ninety -Eight Thousand Ninety -Five and no /100 Dollars ($198,095.00) payable as follows: (a) Buyer will deposit one -fifth (1/5) of the total purchase price into escrow which will pass to Seller upon the close of escrow; (b) Buyer will execute an unsecured promissory note for the balance of the purchase price, to be paid in four equal installments over the four subsequent years to begin the year next following the close of escrow, plus interest on the unpaid balance at the rate of 5% per year; (c) A special account shall be set aside by Buyer, out of which the installment payments will be made. Buyer agrees to fund the special account with adequate sums of money from the rentals received from the Balboa Bay Club lease, and to annually transfer each installment from the monies held in the special account to Seller, until such time as the full amount of the principal and interest on the note is paid. (d) Buyer shall deliver said note to Sen., y `N� : -3- AR E 0 0 executed at the time that Seller shall deliver to Buyer the deed. It is mutually agreed by the parties hereto that if Buyer shall not pay any said installment upon the due date thereof, Seller shall have the election to enforce payment of the note or may, at its sole option, exercised within 90 days after default, elect to require Buyer to reconvey the subject property to Seller. (e) The obligation of the City under this agreement to pay Seller the purchase price of said property shall not be a lien, charge or encumbrance, legal or equitable, on any City property, or upon any of the income, receipts or other revenues of the City, other than those specific revenues allocated to the special account as hereinabove described. It is specifically agreed by the parties hereto that the purchase price for the subject property established herein represents the best estimate of the parties of the fair market value of the subject property as of the due date of said note, and Buyer hereby specifically stipulates that said obligation to reconvey shall be specifically enforceable, and that satisfaction of the subject note shall be deemed fair consideration for said reconveyance. 4. Taxes on the subject property shall be prorated as of the date of conveyance. In the event that Seller shall have prepaid taxes on the subject property, Buyer shall immediately reimburse Seller for said advance taxes, and shall be solely responsible for obtaining any refund of taxes under Revenue Code Section 5096.7, or any other applicable section. Buyer shall take all necessary action pursuant to the Revalue and Taxation Code to cause the subject property to be removed from the property tax rolls. 5. It is mutually agreed that, upon payment of the following sums, plus interest, the obligation of Buyer to reconvey under Paragraph 3 shall be terminated: Close of Escrow: lst Year: 2nd Year: 3rd Year: 4th Year: WIE $39,619.00 $39,619.00 $39,619.00 $39,619.00 $39.619.00 $198,095.00 E R 6. Seller agrees to construct the proposed 30 -foot wide private drive running along the southeasterly side of subject property, shown as Proposed Vehicular Access Easement on Exhibit "B ", prior to the occupancy of the police facility; and Buyer agrees that if it uses said private drive to gain access to subject property, it shall pay to Seller its prorata share of the cost of maintenance of said private drive; Seller also agrees to landscape and maintain the corner quadrant reserved for such purposes, in accordance with the Newport Center development criteria. With these exceptions, Buyer agrees to accept subject property in an as -is condition, and further agrees that Seller has no further obligations in matters of acreage charges and /or connection fees. 7. Seller shall retain an easement for private road purposes over the southeasterly 15.00 feet of subject property, shown on Exhibit "B" as Reservation No. 1, which Buyer shall have a non - exclusive right to use for the purpose of ingress and egress to and from subject property. Seller shall also retain an easement for landscaping purposes over that portion of subject property so indicated on Exhibit "B" as Reservation No. 3 and as described in Exhibit "A ". 8. Seller, its successors and assigns, for a period of twenty -five (25) years from the date of the deed shall have the right to approve the exterior design of all improvements to be constructed upon the premises. Buyer shall supply to Seller for its approval two complete sets of construction plans and specifica- tions for the exterior of said improvements and adjoining areas to be landscaped, prepared by a licensed architect or licensed engineer, including but not limited to grading and drainage plans and soils report, a plot plan showing the proposed location of said improvements, all utilities and service connections and all places of ingress and egress to public streets and roads and plans for outdoor signs and lighting. Seller shall approve said plans within thirty (30) days from the receipt thereof by returning one set of plans to Buyer with its approval indicated thereon, or shall notify Buyer within thirty (30) days from receipt of said 1 T yF ti FRE plans of the reasons for its disapproval. However, Seller shall not unreasonably withhold its consent. Upon completion of said improvements and within one hundred eighty (180) days from the final inspection by the local municipality, all landscaping proposed with the approved construction plans must be m mpleted. During said twenty -five (25) year period no structure or other improvement, the plans, specifications and proposed location of which have not first received the written approval of Seller or which does not comply with such plans, specifications and locations, shall be constructed and maintained on the land. No material addition to or alteration of any building or structure erected on the premises shall be commenced unless and until plans and specifications covering the exterior of the proposed addition or alteration shall have been first submitted to and approved by Seller in the manner above provided. The approval of Seller of any plans and specifications refers only to the conformity of such plans and specifications to the general architectural plan for the premises and the neighboring lands; such approval of plans and specifications assumes no liability or responsibility therefor or for any defect in any structure constructed from such plans and specifications. 9. Buyer agrees that it will reserve certain areas on the subject property to be devoted to such uses and in such manner as hereinafter in this paragraph set forth and on which no structures will be built, and further that such reservation shall be binding upon Buyer's successors in interest. Said areas and uses shall be as follows: For the full length of the southeasterly side of subject property beginning at the edge of the easement for private roadway purposes reserved in Paragraph 7 above and extending inward toward the center of subject property an area of eighteen feet (181) in width shall be devoted to landscaping and sidewalks. IN WITNESS WHEREOF, the parties hereto have executed 00-7 -6- 0 0 this Agreement as of the date first above written. CITY OF NEWPORT BEACH l� APP D AS TO QpfM: Mayor ATTEST: City Attorney' �� j, l , _ ta- City Clerk Buyer THE IRVINE COMPANY, By: � Title: VICE PRESIDENT ,NL U UMW ASSISTANT SECRETARY Seller SEAL DON:mh 9/19/72 -7- LEGAL DESCRIDTION R parcel of land in the City of Newport Beach, County of Orange, State of California, located in Block 55 of Irvine's Subdivision as per map filed in Book 1, Page 88 of Miscellaneous Record Maps, Records of said County, said parcel being described as follows: Beginning at the intersection of the center line of Jamboree Road (132 feet in width) with the center line of Santa Barbara Drive (101 feet in width) as per map recorded. in Book 31, Page 35 of Parcel Maps of said County; thence north 430 30' 31" east along said center line of Jamboree Road 348.85 feet; thence south 460 29' 29" east 66.00 feet to a point in the southeasterly line of said Jamboree Road, said point being the TRUE POINT OF BEGINNING; thence south 46C'29' 29" east 524.50 -feet to a point in a curve that is the northwesterly line of a proposed vehicular access ease- ment (30 feet in width); thence south 580 37' 11" east along a line radial to the center line of said curve a distance of 15.00 feet to the center line of said proposed vehicular access easement, said last mentioned center line being a curve with a radius of 500 feet and being concave northwesterly; thence south „esterly along said last mentioned curve through a central angle of 150 26' 57” an arc distance of 134.81 feet, more or less, to a point that is the most easterly corner of _ Parcel No. 1 shown. on said map recorded in Book 31, Page 35 of said Parcel Maps; thence north 43o 10' 14" west 15.00 feet along a line radial to said last mentioned curve to the north resterly line of said proposed vehicular access easement; thence north 460 29' 29" '.rest 264.59 feet to the most northerly corner OT Salo. last mentioned Parcel No. 1; thence -south 43030' 31" vrest 184.51 feet to a point in the north- easterly line of said Santa Barbara Drive; thence south 56030' 31" west along a line that is radial to the center line of said Santa Barbara Drive 50.50 feet to said center line of Santa Barbara Drive; thence northwesterly along said center line of Santa Barbara Drive and following the same through all of its various curves and courses to the southeasterly line of said Jamboree Road; thence north 43030'. 31" east along said southeasterly line of Jamboree Road to the TRUE POINT OF BEGINNING• RESERVATION NO, 1 Beginning at a point in a curve that is the north- , westerly line of said proposed Vehicular access drive, said last mentioned point being located south 46029' 29" east 524.50 feet from -said TRUE POINT OF BEGINNING; thence south 580 37' 11" east along a line radial to the center line of said curve a distance of 15.60 feet to the center line of said proposed vehicular accoss ease ;gent, said last mentirned t center line being a curve concave to the north;iest with .a radius of 500 feet; thence scutir,resterly along said last .mentioned curve through a central angle of 15026' 57" an arc distance of 134.Si feet more or less to a point that is the most easterly corner of Parcel No. 1 shown on the map recorded in Book 31, Pace 35 of said Parcel !aps; thence N, r . north 43o 10' l west 15.00 feet along a lino radial to z said last r.,.entic ec curve to the northwesterly line of �• said proposed v :r;cJiar access easement, said last mentioned F north.;esz,arly , ine Zeing a cur... conc:rve to the nort;-,•,;est , with a ratios of 435 :eet; :hecce northeasterly al­ � r last r..e .;i ..e:, curve ti;r con -e 15 v5' ^7" to j tral angi or y the point of :.egln..in-1 FR E r� 0 RESERVATION NO. 2 Beginning at the intersection of the southeasterly line of said Jamboree Road ;with the center line of said Santa Barbara Drive; thence northeasterly along said southeasterly line of Jamboree Road 75.50 feet to the beginning of a tangent curve that is concave easterly and has a radius of 25.00 feet; thence southwesterly, southerly and southeasterly along said curve through a central angle of 900 00' 00" to the tangent northeasterly line of Santa Barbara Drive; thence south- easterly along said northeasterly line of Santa Barbara Drive and following the same through all of its various courses and curves to the northwesterly line of Parcel No. l shown on the map recorded in Book 31, Page 35 of said Parcel Maps; thence south 56 030' 31" west along aline radial to the center line of said Santa Barbara drive 50.50 feet to the center line of said Santa Barbara Drive;. thence northwesterly along the center line of said Santa Barbara Drive to the point of beginning. RESERVATION N0, 3 Beginning at a point in the northeasterly line of Santa Barbara Drive, said point being located south 460 29' 29" east 158.05 feet and north 430 30' 31" east 50.50 feet from the intersection of the center line of Jamboree Road with the center line of said Santa Barbara Drive, said last mentioned point being the beginning of a non - tangent curve that is concave westerly and has a radius of 147.00 feet and whose center is located south 460 29' 29" east 20.00 feet from said last mentioned intersection; thence northerly along said last mentioned curve to the southeasterly line of said .Jamboree Road; thence southwesterly along said southeasterly line of Jamboree Road 64.12 feet to the beginning of a tangent curve that is concave to the east and has a radius of 25.00 feet; thence southerly along said last mentioned tangent curve through a central angle of 900 00' 00" to the tangent northeasterly line of said Santa Barbara Drive; thence south 46 29' 29" east thereon to the point of beginning. -2- s w F 4 K ®RV r - • '._ -._ _..— .�- ..... -y P 1 cs p� SCGL E •J"- �t W r. N� o P 1 St '�P � .'.E.S Or <c.• RG � „7..., SFr <c /cam/ MOST ,wZY _� RESERVATIO)d NO. / 5 F R E /Vo. I n ntr E cs p� SCGL E •J"- �t W r. N� o EXHIBIT "B” 1 St � .'.E.S Or <c.• RG � „7..., SFr <c /cam/ MOST ,wZY _� RESERVATIO)d NO. / 5 F R E I n ntr E Cl � _ r N v `t^ V. C) :z 17 D4AN'te r ;� r Lam/ "� V v t' �•' .� IPE. -.. G ( C�i�� ✓.C_. -'�. �-- = - -�_' /__r i /r- U W J C;C k Y.� DF" �..� EXHIBIT "B” 0 City Clerk City Attorney City Clerk Police Substation Facility October 31, 1972 Attached is the original of Promissory Note - Installment to The Irvine Company in the amount of $158, 476. 00, as authorised by Resolution No. 7783, for transmittal to the escrow holder, Santiago Escrow Co. Please note that no dates have been filled in. dg Att. PROMISSORY NOTE - INSTALLMENT (Unsecured) $158,476.00 1972 IN INSTALLMENTS, as hereinafter set forth, the undersigned promises to pay to THE IRVINE. COMPANY, a West Virginia corporation, or order, at 550 Newport Center Drive, Newport Beach, California, the sum of One Hundred Fifty -Eight Thousand Four Hundred and Seventy -Six and no /100 Dollars ($158,476.00) plus interest from date at the rate of five per cent (5 %) per annum until paid. Principal and interest shall be payable in installments as follows: (a) $39,619.00 plus $7,923.80 interest on (b) $39,619.00 plus $5,942.85 interest on 1973; 1974; (c) $39,619.00 plus $3,961.90 interest on 1975; (d) $39,619.00 plus $1,980.95 interest on 1976. Should interest not be so paid, it shall thereafter bear like interest as the principal, but such unpaid interest so compounded shall not exceed an amount equal to simple interest on the unpaid principal at the maximum rate permitted by law. Should default be made in payment of interest when due, the whole sum of principal and interest due as of the date of default shall become immediately due at the option of the holder of this note. Principal and interest payable in lawful money of the United States. If action be instituted on this note, the under- signed promises to pay such sum as the court may fix as attorneys' fees. This note shall be payable only from the proceeds of that certain special account to be established by the City of Newport Beach pursuant to the terms of the agreement between the City and The Irvine Company, entitled "Agreement for Purchase and Sale Under Threat of Eminent Domain ", dated , 1972, and this note shall not be deemed to pledge the general credit of the City, nor shall it create, or be used as a basis for creating, a lien, charge, or encumbrance, legal or equitable, on any City property, or upon any of the income, receipts or other revenues of the City, other than those specific revenues derived from the special fund established by the City as described above. CITY OF NEWPORT BEACH By: 6.t�6iC Gam. Mayor ATTEST: City Clerk STATE OF CALIFORNIA ) SS County of Orange ) On (L-c = ?� 1972, before me, the undersigned, a Notary Public in and for said State, personally appeared DONALD A. McINNIS, known to me to be the Mayor, and LAURA LAGIOS, known to me to be the City Clerk of the municipal corporation that executed the within instrument, known to me to be the persons who executed the with:i.n instrument on behalf of the municipal corporation therein named, and acknowledged to me that such municipal corporation executed the within instrument pursuant to a resolution of its City Council. WITNESS my hand and official seal. Notary Public and for said State ' Escrow Number ESCROW INSTRUCTIONO 0 3-65' -JM _- Date SELLER AND BUYER � R,S COPY Q=-er 25.12 �� SANTIAGO _ ESCROW 500 Newport Center Dr., Suite 455, Newport Beach, Calif. 92660 (714) 644 -5111 0M PAN Y SELLER THE IRVINE COMPANY BUYER CITY OF NEWPORT BEACH Escrow Agent is hereby instructed that for a total consideration of $ 198,095.00 and on or before the closing date of December 1, 1972 1. SELLER will hand you Deed /AV411m3:ttitv:L cunveying title to the subject property of this escrow in favor of vestee named herein, and all other documents and monies required of seller to enable you to comply with these instructions; and n. BUYER will hand you $ 't9 619.00_. cash through escrow and S 158.476.00 loan(s) being obtained by buyer; the balance, if any, of $ None has been paid to seller outside of escrow; and all other documents and monies required of buyer to enable you to comply with these instructions; which you are authorized to use, record, and /or deliver when you hold for the account of 3. SELLER: The sum of $ 39.619.00 cash (including $ __: gee acknowledged as paid outside of escrow), together with those other amounts credited to seller according to these instructions, and less those amounts chargeable to seller according to these instructions, and the documents, if any, deliverable to seller according to the instructions below; and for 4. BUYER: The documents and /or monies credited to buyer according to the instructions below; and provided instruments have been filed for record entitling you to procure a CLTA Owner's policy of title insurance with a liability in the amount of the total consideration shown above on real property in the County of nrangP , State of California, described as: Legal Description as shown on Exhibit A attached hereto and made a part hereof, being referred to as "Jamboree Road Police Facility site ". and showing FEE title vested in the following VESTEE: CITY OF NEWPORT `!.:EACH, a municipal corporation. SUBJECT ONLY TO: 1101; general and special taxes for the fiscal year 19 72 - 19_.73 Covenants, conditions, reservations, restrictions, rights, rights of way and easements now of record, if any. Additional covenants, conditions, and reservations as shown on the copy of Corporation Grant Deed attached hereto and made a part hereof, referred to as "Exhibit A ". This escrow is for the purpose of carrying out the terms of an "AGREEMENT FOR PURCHASE AND SALE UNDER THREAT OF EMINENT DOMAIN" dated October 23, 1972, between BUYER and SELLER herein. $ Tax exempt in Documentary tax is the proper amount to be affixed to seller's deed and charged to �4b *%XX &YjY1X BUYER'S account MAIL DEED to: City of Newport Beach, 3300 Newport Blvd., Newport Beach, Ca.92660 MAIL TAX STATEMENT to: Tax exempt. (Instructions continued on page 3 attached hereto and made a part hereof) CONSIDERATION MEMO Paid outside of escrow S _ Cash through escrow $ _ 39,619;00 Encumbrance of Record $ New Encumbrance $ 158,475— n1._ —._ $ TOTAL CONSIDERATION $ 1995,095.00______ Each party signing these instructions has read the additional escrow conditions and instructions on the rF.ers- side hereof and approves, accepts and agrees to be bound thereby as though the reverse side hereof aPl, -arec; over their signatures. The undersigned seller a':d buyer acknowledge receipt of a copy of tllese mstrictons. SELLER'S SiG'•: ATUF.E, Address & Telephone THE IRVINE CO TANY By :- BUYER'S :!GNAT URE, Address & Teiephon2 Mayor 500 Newport center Drive. Newport Beach, C,e. 3300 Newport ,h.;d., ;e1•p rt Sea t,TC.a. 526.0 Att: Ron Stone,. L,&rrLand Sales_-- �.__.— _�t.S..;___F!c_Llg;a_ 'Nwi1, Gi; _t1 :>rcte•; (714) 64 4- 3392 Poem 1001 70 Pepe 1 of —3 (71 -4) 673 - 211.0 ADDITIONAL ESCROW CONDITIONS AND INSTRUCTIONS: Both the seller and buyer will pay upon demand, regardless of the consummation of this escrow, all charges incurred by you for them, including your escrow fees. Unless otherwise provided therein, SELLER will pay title charge, fee for preparation of instruments executed by him, recording fees on any documents necessary on his part to complete this escrow, and seller's escrow fee. BUYE R, unless otherwise provided herein, will pay fee for preparation of instru- ments executed by him, recording fees on conveyance documents and any other documents necessary on his part to complete this escrow, buyer's escrow fee and all charges and expenses in connection with loan, if any, obtained by him. YOU WILL INSTRUCT THE TITLE INSURANCE COMPANY TO BEGIN SEARCH OF TITLE AT ONCE. 2. Pay at close of escrow, from SELLER'S funds, any demands for reconveyance, releases or satisfactions of any encumbrances of record and any bonds or taxes, payment, and /or release which are necessary to place title in condition to close this escrow, and pay a commission in accordance with the instructions contained in a separate commission order. 3. Make all adjustments (pro-rations) on the basis of a 30 day month. "Close of escrow" is the day that the conveyance called for in this escrow is recorded and /or filed in the County Recorder's office. 4. When taxes are to be adjusted as called for above, the adjustment is to be made based on the latest tax figures avail- able to you. Taxes shall include personal property taxes of the former owner, if any, and also include any special district levies, payment of which are included therein and collected therewith, and any taxes and assessments levied or assessed subsequent to date of these instructions. 5. Execute on behalf of the parties hereto, assignments of interest in any fire insurance policies handed you and for- ward them upon close of escrow to the proper parties or agent. In all acts in this escrow relating to fire insurance, including adjustments, if any, you shall be fully protected in assuming that each such policy is in force and that the necessary premium therefor has been paid. 6. In the event that the principal amount of encumbrances of record is different than shown in consideration memo found above, the sale price is to remain the same and you are to adjust the cash through escrow accordingly unless you are instructed to the contrary herein. You are to charge buyer and credit seller the amount shown on benefici- ary's statement as an impound account for future payments. 7. The parties to this escrow have entered into these instructions for the purpose of completing the sale and purchase of the herein described real property on the terms and conditions set forth in these instructions. The instructions are not intended to cancel or supersede any agreements between the parties entered into outside of these instructions. 8. In the event of a failure of a performance or condition to be complied with in a stated period of time, or on or before a stated date, or in the event these instructions are not complied with on or before the date shown on page 1, either party may give you a written demand to cancel, otherwise complete this escrow as soon as possible. In the event such demand is signed by less than all of the parties hereto, you are to withhold all documents and proceeds until ten days after you have mailed a copy of said demand to the non - signing parties and their agent, if any, at the respective addresses shown herein. 9. In the event conflicting demands are made or notices served upon you with respect to this escrow, the parties hereto expressly agree that you shall have the absolute right at your election to do either or both of the following: (a) Withhold and stop all further proceedings in, and performance of, this escrow, or (b) File a suit in interpleader and obtain an order from the court requiring the parties to interplead and litigate in such court their several claims and rights amongst themselves. In the event such interpleader is brought, you shall ipso facto be fully released and discharged from all obligations to further perform any and all duties or obligations imposed upon you in this escrow, and the parties jointly and severally agree to pay you all costs, expenses, and reasonable attorney's fees expended or incurred by you, the amount to be fixed and a judgment thereon to be rendered by the court in such a suit. 10. In the event it may be necessary or proper in order to comply with the conditions and instructions of this escrow, you are authorized to (a) Cause to be deposited, during the pendency of this escrow, any funds or documents with any bank, savings and loan association, or title company, to be credited to the account of SANTIAGO ESCROW COMPANY, as required to complete this escrow, and (b) Furnish to any broker hereunder or any lender, or anyone acting on behalf of the lender, any information concerning this escrow, including among other things certified copies of all escrow instructions and any amendments thereto and copies of final closing statements upon request. 11. MISCELLANEOUS INSTRUCTIONS (a) Make all disbursements by your check. (b) These instructions may be executed in counterparts, each of which so executed shall, irrespective of the date of its execution and delivery, be deemed an original and such counterparts together shall constitute one and the same instrument. (c) Any amended, supplemental or additional instructions given in connection with this escrow shall be subject to the conditions contained herein. (d) In these instructions, whenever the context so requires, the masculine gender includes the feminine and /or neuter, and the singular number includes the plural. 12. It is understood that Santiago Escrow Company is a subsidiary of the Irvine Company. FORM 100-1-70? page 2 Escrow Number 1651 -JM ESCROW INSTRUCTIONS Date SUPPLEMENTAL PAGE October 25, 1972 Property: Jamboree Road Police Facility site. 500 Newport Center Dr., Suite 455, Newport Beach, Calif. 92660 (714) 644 -5111 (Instructions continued from page one) SANTIAGO ESCROW COMPANY 5. You are instructed to charge SELLER and credit BUYER in the amount BUYER is charged for a standard CLTA Owners title insurance policy insuring the City of Newport Beach in the amount of the purchase price. 6. Recording of the conveyance on the property covered in this escrow is contingent upon concurrent recording of a conveyance from the BUYER herein to SELLER herein on property referred to as "municipal center property" and described on the attached "Exhibit B ". SELLER herein must approve the preliminary title report on the said "municipal center property" prior to recording of the conveyance of same. BUYER herein will pay all charges to obtain a standard CLTA policy of title insurance insuring SELLER herein as Vestee. The consideration to BUYER herein for this conveyance is cancellation of a Promissory Note dated September 15, 1969 in the amount of $1,834,500.00. Said Promissory Note will be placed into this escrow for delivery to BUYER herein at close of escrow. 7. The loan on the property covered in this escrow, as referred to in Item 2 on page one, shall be in the form of an unsecured Promissory Note in the amount of $158,476.00, the terms of which are specifically set forth in the "AGREEMENT FOR PURCHASE AND SALE UNDER THREAT OF EMINENT DOMAN" dated October 23, 1972, between BUYER and SELLER herein. Escrow holder is instructed to date said Promissory Note the date of recording of the conveyance of the property, and to further date the payment due dates the second, third, fourth and fifth annual successive anniversary dates after recording of the conveyance. 8. Pro -rate real property taxes as of the close of escrow. The foregoing terms, conditions, provisions and instructions have been read and are understood and agreed to by each of the undersigned. THE UNDERSIGNED SELLERS AND BUYERS ACKNOWLEDGE RECEIPT OF A COPY OF THESE INSTRUCTIONS. SELLER'S SIGNATURE BUYER'S SIGNATURE THE IRVINE COMPANY _CT Y OF NRWPDRT_BFACH By: 105 10 .55 Page No. City of Newport Beach ' AND WHEN RECORDED MAIL 10 TO 406 CA [7.681 SPACE ABOVE THIS LINE FOR RECORDER'S USE 1 Corporation Grant Deed I THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY D.T.T. S .1 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, THE IRVINE COMPANY a corporation organized under the laws of the state of West Virginia hereby GRANTS to THE CITY OF NEWPORT BEACH, a municipal corporation, the following described real property in the City of Newport Beach County of Orange State of California: All right, title and interest in and to the real property described by Exhibit "A" attached hereto; SUBJECT to the covenants, conditions, restrictions and other matters on Exhibit "BI' attached hereto. :; In NN'itncss N\'hereof, said corporation has caused its corporate name and seal to be affixed hereto and this instru. rnent to be executed by its President and Secretary thereunto du1Y authorized. Dated: THE IRVINE COMPANY STATE OF CALIFORNIA S 13Y . S COUNTY OF On before me, the under- By signed, a Nor,ry 1'u bli< in and 6.r said Sate. per -onalh' appeared known to me to be the Pre,idcnt. and known to nip to be Secretary of the G,rporanwn that e,eruted the within In.truitot, known 1" Ue b, he dw per -ant- who III, within ln-tt'um,ot .n hehalf nI the r..aporeti..n therein orned. and ark nom lydgrd n, me tiidl -uAi C: rv,rati�m r\e,uted th, withlo In -tot Unfit pur -uant tij it, by la,,: or u rr:vlta ttm of its Loard �4 din•non. 11 my hand nod wlicial seal. si; nature Name tl)p.-d or I'tiwrdt Vice President Assistant m.k M a nn ..m ul n.: ,.•,1 ,.,b Secretary City N... of Newport Beach sTr.El 3300 Newport Blvd. AEdriU Newport Beach, Calif. CITY s s' °tE Ltten :Dennis O'Neil �J 1r MAIL TAX n n ATEMIN TO 1 Aldnu Tax Exempt city a V.I. L J TO 406 CA [7.681 SPACE ABOVE THIS LINE FOR RECORDER'S USE 1 Corporation Grant Deed I THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY D.T.T. S .1 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, THE IRVINE COMPANY a corporation organized under the laws of the state of West Virginia hereby GRANTS to THE CITY OF NEWPORT BEACH, a municipal corporation, the following described real property in the City of Newport Beach County of Orange State of California: All right, title and interest in and to the real property described by Exhibit "A" attached hereto; SUBJECT to the covenants, conditions, restrictions and other matters on Exhibit "BI' attached hereto. :; In NN'itncss N\'hereof, said corporation has caused its corporate name and seal to be affixed hereto and this instru. rnent to be executed by its President and Secretary thereunto du1Y authorized. Dated: THE IRVINE COMPANY STATE OF CALIFORNIA S 13Y . S COUNTY OF On before me, the under- By signed, a Nor,ry 1'u bli< in and 6.r said Sate. per -onalh' appeared known to me to be the Pre,idcnt. and known to nip to be Secretary of the G,rporanwn that e,eruted the within In.truitot, known 1" Ue b, he dw per -ant- who III, within ln-tt'um,ot .n hehalf nI the r..aporeti..n therein orned. and ark nom lydgrd n, me tiidl -uAi C: rv,rati�m r\e,uted th, withlo In -tot Unfit pur -uant tij it, by la,,: or u rr:vlta ttm of its Loard �4 din•non. 11 my hand nod wlicial seal. si; nature Name tl)p.-d or I'tiwrdt Vice President Assistant m.k M a nn ..m ul n.: ,.•,1 ,.,b Secretary NEWPORT CENTER POLICE FACILITY That portion of Block 55 of Irvine's Subdivision, in the City of Newport Beach, County of Orange, State of Cali- fornia, as per map filed in Book 1, Page 88 of Miscellaneous Record Maps in the office of the County Recorder of said County, described as follows: Beginning at the intersection of the center line of Jamboree Road (132 feet in width) with the center line of Santa Barbara Drive (101 feet in width) as per map recorded in Book 31, Page 35 of Parcel Maps of said County; thence north 43 °30'31" east along said center line of Jamboree Road 348.85 feet; thence south 46 °29'29" east 66.00 feet to a point in the southeasterly line of said Jamboree Road, said point being the TRUE POINT OF BEGINNING; thence south 46 °29'29" east 524.50 feet to a point in a curve that is the northwesterly line of a proposed vehicular access easement (30 feet in width); thence south 58 °37'11" east along a line radial to the center line of said curve a distance of 15.00 feet to the center line of said proposed vehicular access easement, said last mentioned center line being a curve with a radius of 500 feet and being concave northwesterly; thence southwesterly along said last mentioned curve through a central angle of 15 °26'57" an arc distance of 134.81 feet, more or less, to a point that is the most easterly corner of Parcel No. 1 shown on said map recorded in Book 31, Page 35 of said Parcel Maps;. thence north 43 °10'14" west 15.00 feet along a line radial to said last mentioned curve to the northwesterly line of said proposed vehicular access easement; thence north 46 °29'29" west 264.59 feet to the most northerly corner of said last mentioned Parcel No. 1; thence south 43 °30'31" west 184.51 feet to a point in the north- easterly line of said Santa Barbara Drive; thence south 56 °30'31" west along a line that is radial to the center line of said Santa Barbara Drive 50.50 feet to said center line of Santa Barbara Drive; thence northwesterly along said center line of Santa Barbara Drive and follow- ing the same through all of its various curves and courses ,,to the southeasterly line of said Jamboree Road; thence north 43 °30'31" east along said southeasterly line of Jamboree Road to the TRUE POINT OF BEGINNING. 1. Reserving to Grantor, its successors and assigns: (a) All oil, gas, petroleum and other hydrocarbon substances in and under the-option property, together with all necessary and convenient rights to explore for, develop, produce and extract and take the same, subject to the express limitation that any and all operations for the exploration, development, pro- duction, extraction and taking of any of said substances shall be carried on at levels below the depth of five hundred (500) feet EXHIBIT "A" Page 1 of 3 from the surf* of said land by means o &ells, derrick and /or other equipment from surface locations on adjoining or neighbor- ing land, and subject further to the express limitation that the foregoing reservation shall in no way be interpreted to include any right of entry in and upon the surface of the land herein - above described. -It is understood by the parties that the above stated reservation is expressly subject to all restrictions and regulations concerning the drilling for and production of oil, gas, petroleum and other hydrocarbon substances, which are con- tained in the City Charter or the municipal ordinances of the City'of Newport Beach. (b) An easement for private road purposes over the southeasterly 15.00 feet of Subject Property described as follows: Beginning at a point in a curve that is the north- westerly line of said proposed vehicular access drive, said last mentioned point being located south 46 °29'29" east 524.50 feet from said TRUE POINT OF BEGINNING; thence south 58 °37'11" east along a line radial to the center line of said curve a distance of 15.00 feet to the center line of said proposed vehicular access ease- ment, said last mentioned center line being a curve con- cave to the northwest with a radius of 500 feet; thence southwesterly along said last mentioned curve through a central angle of 15'26'57" an arc distance of 134.81 feet more or less to a point that is the most easterly corner of Parcel No. 1 shown on the map recorded in Book 31, Page 35 of said Parcel Maps; thence north 43 °10'14" west 15.00 feet along a line radial to said last mentioned curve to the northwesterly line of said proposed vehicular access easement, said last mentioned northwesterly line being a curve concave to the north- west with a radius of 485 feet; thence northeasterly along said last mentioned curve through a central angle of 15 026'57" to the point of beginning, and granting to Grantee, its successors and assigns the non- .; exclusive right to use such easement for the purpose of ingress and egress to and from Subject Property. (c) An easement for landscape purposes and Newport Center identification cube over that portion of Subject Property described as follows: Beginning at a point in the northeasterly line of Santa Barbara Drive, said point being located south 46 °29'29" east 158.05 feet and north 43030'31" east 50.50 feet from the intersection of the center line of Jamboree Road with the center line of said Santa Barbara Drive, said last mentioned point being the be- ginning of a non - tangent curve that is concave westerly and has a radius of 147.00 feet and whose center is located south 46229'29" east 20.00 feet from said last EXHIBIT "A" Page 2 of 3 mentid0d intersection; thence n -Oherly along said last mentioned curve to the southeasterly line of said Jamboree Road; thence southwesterly along said southeasterly line of Jamboree Road 64.12 feet to the beginning of a tangent curve that is concave to the east and has a radius of 25.00 feet; thence southerly along said last mentioned tangent curve through a central angle of 90 °00'00" to the tangent northeasterly line of said Santa Barbara Drive; thence south 46 °29'29" east thereon to the point of beginning. • i' EXHIBIT "A" Page 3 of 3 as follows: 1973; S0ECT TO covenants, Condit 0s and restrictions, (a) Real Property taxes for the fiscal year.1972- (b) Covenants, conditions, restrictions and public utility easements of record as of the date of said deed; (c) The southwesterly 50.50 feet of Subject Property shall be used only for public street and highway purposes; (d) If at any time within twenty -five (25) years from the date of the deed, Grantee shall propose to voluntarily sell or lease all or any portion of the Subject,Property, Grantor shall have the option to purchase the property to be sold or leased, prorated on an acreage basis in the event of a sale or lease of only a portion of the Subject Property. Grantee shall give Grantor written notice of its intent to sell or lease, speci- fically describing the parcel or parcels to be sold or leased, and Grantor shall have thirty (30) days in which to notify Grantee in writing if it wishes to exercise its option. All notices pro- vided for herein shall be deemed to have been duly given if and when deposited in the United States mail, properly stamped and addressed to the party for whom intended at the party's above listed address, or when delivered personally to such party. 'The price at which the property or any portion thereof may be re- purchased by Grantor pursuant to said option shall be the fair market value at the time of the proposL-d sale, to be determined as follows: In the event that the parties are unable to agree on the fair market value of the property to be.repurchased by Grantor, within thirty (30) days following notice of Grantor's intention to exercise its option to repurchase, each party shall appoint an appraiser and shall give the other party written notice of such appointment. If the respective appraisers are unable to agree on the purchase price of the property, the two appraisers shall appoint a third appraiser whose decision as to the fair market value of the property shall be final and binding on both,parties. EXHIBIT "B" Page 1 of 3 If the two appraisers are unable to agreeO n the appointment of a third appraiser within ten (10) days after the appointment of the second appraiser, either party may request the Presiding Judge of the Orange County Superior Court to appoint a third appraiser. Each party shall pay the fees of the appraiser ap- pointed by it or on its behalf, and the fees of the third ap- praiser shall be divided equally between the parties. (e) Grantor, its successors and assigns, for a period of twenty -five (25) years from the date of the deed shall have the right to approve the exterior design of all improvements to be constructed upon the premises. Grantee shall supply to Grantor for its approval two complete sets of construction plans and specifications for the exterior of said improvements and adjoining areas to be landscaped, prepared by a licensed architect or licensed engineer, including but not limited to grading and drain- age plans and soils report, a plot plan showing the proposed lo- cation of said improvements, all utilities and service connec- tions and all places of ingress and egress to public streets and roads and plans for outdoor signs and lighting. Grantor shall approve said plans within thirty (30) days from the receipt thereof by returning one set of plans to Grantee with its approval indi- cated thereon, or shall notify Grantor within thirty_ (30) days from receipt of said plans of the reasons for its disapproval. However, Grantor shall not unreasonably withhold its consent. Upon completion of said improvements and within one hundred eighty (180) days from the final inspection by the local municipality, all landscaping proposed with the approved construction plans must be completed. During said twenty -five (25) year period no structure or other improvement, the plans, specifications and proposed loca- tion of which have not first received the written approval of Grantor or which does not comply with such plans, specifications and locations, shall be constructed and maintained on the land. No material addition to or alteration of any building or structure EXHIBIT "B" Page 2 of 3 erected on th4remises shall be comment *unless and until plans and specifications covering the exterior of the proposed addition or alteration shall have been first submitted to and approved by Grantor in the manner above provided. The approval by Grantor of any plans and specifications refers only to the conformity of such plans and specifications to the general archi- tectural plan for the premises and the neighboring lands; Grantor, by such approval of plans and specifications, assumes no liability or responsibility therefor or for any defect in any structure con- structed from such plans and specifications. (f) Grantee agrees that it will reserve certain areas on the Subject Property to be devoted to such uses and in such manner as hereinafter in this paragraph set forth and on which no structures will be built, and further that such reservation shall be binding upon Grantee's successors in interest. Said areas and uses shall be as follows: (1) For the full length of the southeasterly side of Subject Property beginning at the edge of the easement for private roadway purposes reserved in (b) above and extending inward toward the center of Subject Property an area of eighteen feet (18') in width shall be devoted to landscaping and sidewalks; and (2) For the full length of the southwesterly side of Subject Property adjacent to Santa Barbara Drive an area of twenty feet (20') in width shall be denoted to landscaping only. It is mutually agreed that access to the site may be taken across the above reserved areas. EMIIBIT "B" Page 3 of 3 LEGAL DESCRIPTION on property referred to as "municipal center property ": That portion of Block 93 of Irvine's Subdivision in the City of Newport Beach, County of Orange, State of California, as per map filed in Book 1, page 88 of Miscellaneous Record Maps in the office of the County Recorder of said County together with a portion of Tract No. 6015, as per map filed in Book 239, pages 28 through 41 of Miscellaneous Maps in the office of said County Recorder, described as follows: Beginning at the Southerly terminus of that certain center line course of Newport Center Drive shown as "North 12° 59' 27" West 365.00 feet on a map of Tract No. 6015 filed in Book 239, pages 28 through 41 of Miscellaneous Maps in the office of said County Recorder;thenceNorth 120 59' 27" West 215.36 feet along said center line; thence North 77° 00' 33" East 93.96 feet to the beginning of a curve concave Southerly having a radius of 500.00 feet; thence Southeasterly 340.34 feet along said curve through an angle of 39° 00' 00 "; thence South 63° 59' 27" East 310.06 feet to the beginning of a curve concave Northeasterly having a radius of 500.00 feet; thence Southeasterly 205.16 feet along said curve through an angle of 23° 30' 33 "; thence South 87° 30' 00" East 383.69 feet to the beginning of a curve concave Southwesterly having a radius of 500.00 feet; thence Southeasterly 239.98 feet along said curve through an angle of 27° 30' 00 "; thence South 60° 00' 00" East 128.42 feet; thence South 30° 00' 00" West 608.21 feet; thence South 60° 30' 30" West 269.47 feet; thence South 790 38' 12" West 185.54 feet; thence North 38° 44' 40" West 263.59 feet; thence North 580 17' 58" West 227.70 feet; thence North 740 30' 14" West 279.52 feet to a point on a non - tangent curve concave Southwesterly having a radius of 255.00 feet, a radial to said point bears South 85° 17' 06" East; thence Northwesterly 302.01 feet along said curve through an angle of 67° 51' 28" to a point on the Easterly right of way of said Newport Center Drive, said point being on a curve concave Westerly having a radius of 865.00 feet, a radial to said point bears South 890 40' 06" East thence North 89° 40' 06" West 65.00 feet along said radial to the center line of said Newport Center Drive, said center line being a curve concave Westerly having a radius 'of 800.00 feet; thence Northerly 186.02 feet along said curve and center line through an angle 130 19' 21" to the point of beginning. Said property is also shown as Parcel 1 on a map thereof recorded in Book 27, page 17 of Parcel Maps, records of said County. EXHIBIT B to Escrow No. 1651 consisting of one page CITY ATTORNEY September 21, 1972 AGREEMENT FOR PURCHASE OF JAMOREE ROAD POLICE FACILITY. I am returning signed original and two copies of subject agreement per your request. Please forwad them to The Irvine Company for final execution and return the fully executed original for our files. Laura Lagios City Clerk LL swk enc. J CI�Y OF NEWPORT BEACH MEMORANDUM: From City Attorney To ...... .... ity._ Clerk . ............................... . SeVtt !M'19 72 Re: Purchase of Jamboree Road Police Facility Attached are the original and three copies of the Agreement for Purchase and Sale in connection with the above subject. Because of the time pressure, would you please have the agreement executed on behalf of the City tomorrow, and return the original and two copies to this office no later than Friday morning. We have arranged for it to be picked up then by Ron Stone of The Irvine Company, who will in turn immediately obtain the necessary Irvine Company signatures and proceed to open escrow. We will request that a completely executed copy be returned to you for your file. Reply wanted ❑ Reply not necessary O nsao DON:mh Att. Thanks BYB y . ... . .............. . . [[. . . . . . . . . . . . . . . . . . . . . . . . _' . . ............. Dennis RESOLUTION NO. 7 7 S ;', A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AUTHORIZING THE EXECUTION OF AN AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND THE IRVINE COMPANY FOR THE PURCHASE AND SALE UNDER THREAT OF EMINENT DOMAIN OF JAMBOREE ROAD POLICE FACILITY SITE, AND AUTHORIZING RECONVEY- ANCE OF THE CIVIC CENTER SITE UNDER TERMS OF AGREEMENT DATED SEPTEMBER 15, 1969 WHEREAS, there has been presented to the City Council of the City of Newport Beach a certain contract between the City of Newport Beach and The Irvine Company for the purchase and sale under threat•of eminent domain of a parcel of property located on Jamboree Road adjacent to the Jamboree Fire Station, to be used as a police facility site; and WHEREAS, under the terms of the said purchase and sale agreement, the City of Newport Beach agrees to reconvey to The Irvine Company certain property purchased from The Irvine Company by an agreement for purchase and sale dated September 15, 1969, to have been used as a civic center site; and WHEREAS, the City Council has considered the terms and conditions of said agreement and found them to be fair and equitable; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport Beach that said agreement for purchase and sale of the police facility site above described is approved, and the Mayor and City Clerk are hereby authorized and directed to execute the same on behalf of the City of Newport Beach, together with all documents necessary to effect the conveyance of said Jamboree Road police facility site, and the reconveyance of the Civic Center site as described above. a ADOPTED this 4*hb day of August, 1972. ATTEST: City Clerk Mayor DON:mh 8/8/72