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HomeMy WebLinkAboutC-1795 - Purchase property for Senior Citizens facility - 5th Street & Marguerite; see D-1302, D-1331, D-1332 & D-1463; see also C-1693 & C-1770STATE OF CALIFORNIA — BUSINESS AND TRANSPORTATION AGENCY DEPARTMENT OF TRANSPORTATION 1120 N STREET SACRAMENTO, CALIFORNIA 95814 (916) 445 -8636 November 14, 1975 Mr. Robert L. Wynn City Manager City of Newport Beach City Hall 3300 Newport Boulevard Newport Beach, CA 92660 Dear Bob: N EDMUND G. BROWN JR., Governor �gya.,�►f�/ 7 Jo1�4 '4,9 r" 8 ,S� 9 X07 -Ora -1 -15.0 DD 041339 -01 -01 This is in response to your letter of November 5 regarding the 5th and Marguerite Avenue property. Caltrans shall, per Clause #2 of the Agreement dated October 29, 1975, retain the sum of $105,000 previously paid by the City until such time as the exact amount of interest loss to Caltrans has been calculated. The Director's Deed conveying the property back to the City shall be submitted to the Highway Commission for review and approval at their December 17 meeting. The Deed could be recorded in late December and the interest loss to Caltrans calculated immediately thereafter: " Since ely Harry L. Kag , Chief Division of fight of Way COUNCILMEN \o�Co��? ippmo@ CITY OF NEWPORT BICH MINUTES LOLL CALL piu'29C iP * a March 8, 1976 INDEX of Commerce, and Paul Hummel, immediate Past President of the Corona del Mar Civic Association and originator %u I of the letter from the Association regarding the curb l cuts, addressed the Council and urged that the curb cuts be filled. Motion x Councilman Kuehn made a motion to direct the staff to abate the unused curb cuts and driveway approaches in old Corona del Mar using Chapter 13.07 of the Munici- pal Code, giving priority to those curb cuts on East Coast Highway. Motion x Mayor McInnis made a substitute motion to direct the Ayes K x x x x x X staff at City expense to close the unused curb cuts and driveway approaches at the more critical locations as time and funds are available, which motion carried. CURRENT BUSINESS: 1. A report was presented from the Community Development Hillside Department regarding the recommendations of the Dev Planning Commission in connection with hillside devel- opment. Motion x The recommendations of the Planning Commission were Ayes K x x x x X N approved, and the staff was directed to prepare a Council Policy Statement on Hillside Development for consideration on March 22, 1976. I 2. A letter from the Orange County Division of the League League of of California Cities was presented regarding increased Calif Citie: staffing requirements with staffing alternatives and funding requirements. Motion x The matter was postponed pending further information Ayes x x x x x x Y on the League's reorganization plan. It was directed that a letter be written to the League of Cities advising them of this action, and the Council's representative to the League was directed to make the Council's position known to the Orange County Division. 3. A report was presented from the City Manager regarding CdM acquisition of property in Corona del Mar for the State Lots/ I Senior Citizens' facility. Acquisition Resolution No. 8714, accepting the offer of the State R -8714 Department of Transportation to sell certain State - owned property to the City of Newport Beach and authorizing the Mayor and City Clerk to accept the Grant Deed for said property and further authorizing the Mayor and City Clerk to execute a Deed of Trust and Installment Note - interest included for the Motion x balance of the purchase price (Parcel No. 041339- 01 -01, Ayes K x x xlxix Corona del Mar), was adopted. 4. A report was presented from the City Manager's Admin- PCH istrative Assistant regarding bid results for sublease City of the Coast Highway Parking Lot. Prkg Lot iSuzanne Rudd, representing West Newport Beach Improve- ment Association, and Bob Abbott addressed the Council in support of the proposal for tennis courts on the Coast Highway Parking Lot. III Volume 30 - Page 47 �i s -/' 0 G N,6 CITY OF NEWPDXF BEAC$1 CALIFORINIA March 12, 1976 Department of Transportation, Dist. 7 P.O. Box 2304, Terminal Annex Los Angeles, California 90051 Gentlemen: Attached you will find: -- 9%Sn0 City Tlali 3300 Newport 1 lv4. (714)673-2110 1. The original copy of the Letter Agreement between the Department and the City for the acquisition of certain property in Corona del Mar. 2. An executed Installment Note for $345,000. 3: An executed Corporation Deed of Trust and Assignment of Rents. 4. A check in the amount of $130,612.50. The check total consists of the following; -- $105,000 for payment as provided by the attached Agreement; $7,500 as the City's portion of the rent collected on the property during the period in which the State owned said property; $18,112.50 interest from July 1, 1975 througi March 31, 1976. It is my understanding, and please consider this letter a demand for p,jo .r,t,.that the State will reimburse the City in the amount of 0105,000./ This amount represents a check previously submitted to the State Department of Transportation. A check should be made pay- able to the City of Newport Beach. Sincerely, ROBERT L. WYNN City Manager Attachments (4) CC: Plr. Harry L. Kagan, Chief Office of Right of '.,lay Mr. E. C. Purpus, Right of Way Agent SATE OF CA TO'tNIA - SUSTNESS AND TBAN ION AGENCY DEPARTMENT OF TRANSPOR ATION DISTRICT 7, P.O. SOX 2774, LOS ANGELES 90051 March s, 1976 City of Newport Beach 330 Newport Boulevard. Newport Beach, California 92660 Attn: DW. Robert L. Wynn City Manager Gentlemen: EDMUND G. BROWN JR., C...mgr 07 -0R4 -1 Parcel 41339 -01 -01 The Department of Transportation hereby offers to sell the above referenced property to the City of Newport Beach for the appraised value of $450,000.00. The following portion of this letter vfnen the duplicate copy is executed and returned by you with a Resolution from the City Council will constitute.the agreement for the purchase, This Resolution must indicate that this property will be purchased for public purposes. The description of the public use must be specified in said Resolution. In the absence of the fore -. going Resolution, a clause will be added to the Director's Deed restricting the property to a public use. This transaction will not be processed for the California Highway Commission approval until the duplicate copy of this letter is fully executed and returned with above Resolution,. The City of Newport Beach, hereinafter known as purchaser, offers to purchase from the California Department of Trans- portation that certain property referred to above and depicted on the attached map for the State's appraised value of $450,000. The City will make payment in the following manner: 1, Remit $1055000 at the time this agreement is executed and returned to the Department of Transportation, 2. Execute a Deed of Trust naming the State of California as beneficiary with payments, including interest of seven percent (7;o) of ?200,000 due July 1, 1976. The remainin.- balance, including interest, will be due July 1, 1977, t: ?� s City of iletiaport Beach -2- Please indicate exactly how title is to be vested: City of Newport Beach, a municipal corporation It is expressly understood by the purchaser that the right, title and interest in the property to be transferred by this sale shall not exceed that vested in the State of California and that no Policy of Title Insurance will be furnished or escrow fees paid by the State of California in this transaction. It is further understood that the purchaser shall not have use of the property until a Director's Deed has been recorded. The purchaser agrees to the above terms and conditions of sale. Place of execution Newport Beach, California Date of execution ATTES ^i : /% CITY OF NEUPORT BEACH _ City Clerk (J 0 Mayor The terms and conditions of the above offer are hereby accepted subject to the approval of the California Highway Com"Tdssion. IIAL ForjDega tment i 'i'ransportation W. �(T. Keey Dej�uty District Director Right of Way �T COPY STATE OP CAII: O'ti1:, —BJSIN E55 AND AGENCY Ed:;aznd G. Bro;•:n Jr. F,Qy,A1� ;7cA�.:+7J�. Gorerrtor DE°ART,'AENT 01 TRANS?ORT77ON D(STP.ICT 7. P.O. BOX 2304, toy ANGELES 9005.1 /,�°.," ,i Viarch 31, 1970- 7 -0ra -1 Parcel 041339-01 -01 INSTALLYEiW NOTE - Interest Included $345,000.00 Newport Beach, California Narch 31, 1976 In installments as herein stated, for value received, we, jointly and severally, promise to pay to the State of California, or order at 120 South Spring Street, Los Angeles,. California, the sum of Three Hundred Forty Five Thousand and 001/100 Dollars ($345,000,00) with interest from Parch 31, 1976, on unpaid principal at the rate of seven (7) percent per annum; principal and interest payable in two installments, the first installment due July 1, 1976, in the amount of $200,000.00 or more, the second installment due July 1, 1977, on which day the unpaid balance of said principal sum faith the unpaid interest due thereon, shall become due and payable. Each payment shall be credited first on interest then due and the remainder on principal, and interest shall thereon cease upon the principal so credited. Should default be made in payment of any installment when due, the whole sum of principal and interest shall. at the option, of the holder of this note become immediately dice, principal and interest payable in lawful money of the United States. If action be instituted on this note, we promise to pay such sum as the Court may fix as attorney fee. This note is secured by Deed of Trust to Title Insurance and Trust Company, a California corporation, as Trustee. There shall be a penalty of 5/ of any payment which is paid more than 10 days after its due date. ATTEST: c'TTV nF NPITPnRT 'REAe'ii i by: � ✓."Lim �vi-� RY• ��%'��,�,%/'`.✓✓.i�i°'�� . Acting City Clerk Mayor �- %.i ,../.�_.Z ........... Ll AND \VHEN RECORDED MAIL. 'rO T,c fi?_ .:'h '_. o `iranL O_ "tea U-0n 70 4:7 C W M AP120 -27 -19 SPACE ASOVE THIS LING FOR RECORDER'S US`. CORPORATION DEED OF TRUST AND ASSIGNMENT OF RENTS —SHORT FORM Ord -1/"1339 This Dcetl of TI-11st, nmdt• thk 30th day of (-;arch, 19 , 0 , brlIvaco the Ci _1 o£ f;eVEpOrU Beach a corporation organized under the laic, of the State of California herein called inusTnk, chose address is 3300 W. Newport Boulevard, Newport Beach, CA 92000 , (number and street) - (city) (zone) (state) TITLE INSURANCE AND TRUST COMPANY, a California corporation, herein called TRUs i-.F, and the State of California herein called BENEFICIARY, Wttnesseth: That Trustor IRREVOCABLY CPINTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POH'FIi OF SALE, that property in County, California, described as: Attached hereto !narked Exhibit "A" TOGETHER WITH the rents, i =sue> and profits thereof, SUBJECT, HOWEVER, to the right, power and authority given to and conferred upon Beneficiary by paragraph (10) of the provisions incorporated herein by reference to collect and apply such ants, i ?sues anti pro fit =. For the Purpose of Securing: 1. Performance of each agreement of 'rruetor incorporated by reference ur contained herein. 2. Payment of the indebtedness evidenced by one promissory rente of even date herewith, and any extension or rer ical thereof, in the principal vm: of ?_3 �IS..r..QQQ_�_(L.__._ raecitted by Tru =tor in favor of Beneficiary. To Protect the Security of Ti-is Deed of Trust, Trustor Agrees: By the execution and delivery of this Deed of Trust and the note secured hereby-, that provisi,rns (1) to (11) inclusive, of the fictitious deed of trust recorded in Santa Barbara Count, and Sonoma County October 18, 1961, and in all ether counties October 23, 1961, in the book and at the page of Official Records in the office of the county recorder of the county wham said property is located, noted below optosile the name of such county, viz.: - COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE - COUNTY GOOK PAGE Af.meda 435 684 Kings 792 833 Placer 895 301 Sierrc 29 325 Alpi. 1 250 lake 362 39 Plumps 151 5 Srskiyoa 468 131 Am.dor 104 348 l.esen 171 471 - Riverside 3005 523 " S.l.no 1105 ' 182 Butte 1145 1 Loa Angeles T2055 'B" _.. Secr.m'e.te. 4331 61- Sonoma _. 1851 639 C.l.verm 145 152 - Madera 810 - 170 S.n.Sani +.. 271 397_ Sranw.u, 1715 456 Cola. 296 617 M.AII 1508 339 San Ber.erdina 3567' 61 Svtier' -- 572 297 Contra C.O. 3978 47 Mariposa 77 292 Son Fr..6w. A332 905 Tehom. 401' 289 Del Norte 78 414 ldendoaino 579 530 son Joaquin 2470 311 T.i.;ry - 93 366 Et D.r.do 568 456 - Merced 1547 538 $on Luis Obispo 1151. 12.' _W.,. 22941 275 Fee,.. 4626 572 Modoc 184 851 Son Metes 4078" '420' Tu ot.mt» 155 - 47 Glenn 422 184 Mono 52 429 Soatn B'arbora 1878 -' 860 - Venlvra 2062- 386 Humboldt 657 527 Monterey 2194 538 Seni. Clara 5336 341' Y610 - 653- 245 Imperial 1091 501 Napa 639 86 Sant. Cruz 1431 494 Yub '334 486 rnyo 147 593 N...d. 305 320 Shmio 694 S28 Kern 3427 60 Orangs 5889 611 Son Diego Sarin 2 Book 1961, Po Be 133387 (which provis!oa:s, identical in all counties, are printed on the reverse hereof) hereby are adopt.d and incorporated here er and mode a part hereof as fully as though set forth herein at length; that it will otr•rrve and perform said proci>iuns; and that the reference. to propw'ty, obligation;, and parties in said proiisinn. tall be construed tc. refer to the property; cbli,lgatinns, and parties set forth ill this"I :rrd of • ZLIsl. The under -iGned Trostor requests that a copy of any Notice of Default and of any Notice of ae hervnatler he mailed to it at its :iMress hereinhefore set forth. CITY OF 11E[iP ORT" BEACH STATE OF C.,MFOR.'\fA, ) S"i);nalx.e nJ Troup, COUNTY Of'-- OFS�C4C� _ y }S5. .✓r�,{ �y�.r�� ..� -,-•� On_c.3'._= �.;s._ 7 before rat the . y.1_. w?'s� X17 .:✓_3?>•n.;2.*r]i�s_ —_ undersigned, a Notary Public it and for said State, personally appean:d —._ known ti Mr, - 11 .._. ........... .._._ r- .tee -e!r rand —..� - - pct inr ,, ^i t keo rr� to :nr. t 1 P r r ---'- • C I'.. ��.. - -•'i` of the c rpor!t: rl I'" t _recut A f. v 1 m,[L- 'a I. 9, 1 Ln t to me to .: the Ire!' I.,,e cl the co:,: rf'� •L,)r n naw ,l, an I trrrp.•rainar :'..I :L "i tit^ 1111: 1611 il:.;I :..n' ".lrirard pu; 'tar.: j:....h by lows nr a r vf 4t of dirertnrs. / ... (\:I ell« t'f Jp. •�r !' r'i.,. :1. f :jA. TIP TJT : ._ ACtlntr C1. t CIeL 'f .. .... .........._Frry :r„-;_. a .— i Titb 01.4, + NIT. )�..I'rrrl•: 111 :.h r:l (r �,•.. _. ... ... 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I,1 yrl 0-o / •.. . ... �•,, IP.. r .. ,.., i. o-d r ru- alSl� o{ Pu t.ot ,r I , v .a ti P ... tl: It ^r• IA.: ._. > rV'm A, uo r.0 a 0-r 140-0-.. t. u.:.•p .s an_r as ,.. - spa. - 011]':4 n.l e[ {au -,Ir .614..1 Ir I 1,1 , 1..,, p,. r.. .I+ [-! p• 'ra,o , 1+n., i')- U Cks "3 an C1 ')�5 Of.' `1'i1 +3 i "•rl "+ Su.bd i vis_on, !I, r- .:o�iC1 tiOO!C'l, i:)(1 __ Gv Of lla!':eoas i,T, os. i'`_"C: 1'i'•:A:i of Oran[ "e .:OO.nty, ClescribeO as follO-is 3t the Intersection of the noriilerly extension of Fo „let", Averu.u, nor: knorm as i�2rcissus Avenue ::.ith t o northeast. l ..e of Co -on: del i;br as said cent--r line and northeast line are Silo' ; -C: or, a i:':2Q recorded in Book 3, paws 41 and 42 of - Vilsc311aIle Ouo Enos, Records of OranSe County, California, said northeast line being; the southwest line of said Block 96; thence North 500 141 20" West along said tract and block line and the south;,iest line of said Block D3 to the northeasterly extension of the center line of Thirty- Sixth Avenue as shov.n on said Corona del I1ar map, now lelornl as Jas-aine Avenue; thence North 520 341 20" East 197.40 feet to a point in a curve, the radius point of which bears North 370 561 10" East 4905).00 feet from said point; thence southeasterly along said curve through a central angle of 80 101 30 ", a distance of 699.85 feet to the beginning of a tangent line; thence South 60° 141 20" East along said tangent line 485.00 feet; thence South 390 151 30." West 348.75 feet to the point of beginning. EXCEPTING THEREFRO;•i all oil, gas and other hydrocarbon substances in and under said land, together with the right to explore for, develop, extract and remove the same therefrom by slant drilling or other like methods, vith derricks or drill rigs located outside of the boundaries of said property, as reserved in the deed from The Irvine Company, a corporation, recorded T' --=1y 5, 1959, in Book 4698, page 478 of Official Records. rl: —PAS OP:Jvp NO. 4084Parce 'NPOICE ti0. I _ _ C. C O U_N T 1 :1 I .MIO U NT 0413390101 Down I „ 1! Payment 027791072 100,000.00 ; P 0229000 5,000.00 PLEASE DETACH THIS STATEMENT . BEFORE DEPOSITING CHECK CITY OF NEWPORT BEACH CALIFORNIA to TOTAI. �MCIJNT 105,000.00 THIS CHECK 15 TENDERED IN PAYMENT OF ITEMS LISTED 0GR7-N;1-\- CITY OF NEWPORT BEF;CH SECURITY PACIFIC NATIONAL BANK 3475 VIA LIDO CALIFORNIA NMPORT BEACH, CALIFO ?NIA 92660 PAY T THE r,F= OP 704 . No. 15343 EI"a..JF ^1.11::. and d'lalt Ira vm; State of California t ✓arch 15, 1976 15343 Dept. of Transportation 120 S. Spring St., PO Box 2304 Los Angeles, Ca. 90051 u °015343,1° 1:1. 2 2 2 111 2 2 L, 0 v: 0 7 2... 9 2 IM SSit, 90 -2240 izz2 - 005,0OO.OD %1 105,000.00 Parcel 0413390101 Parcel F 0413390101 Interest Rent due PLEASE DETACH THIS STATEMENT BEFORE DEPOSITING CHECK m 7/1/ to 027797072 18,112.50 i 0251500 7,500.00 I 75 to 3/31/76 CITY OF NEWPORT BEACH CALI FORM IA y ClTY OF NIEIrVPO.RT r"3.EAC!-1 CALIFORNIA 25,612.50 THIS CHECK IS TEND'RED IN PAYMENT OF IT2MS LISTED SECURITY PACIFIC NATIONAL SANK 3475 VIA LIDO NEWPORT BEACH. CPUFLPNIA 526.60 .N0. !0 -2240 P+iEt /elh�I::iF —'1.i •'�F 1; "�' I'�I I 11';.I :i I uI I':: ::;� _L S1 PAY TO THE ORDER OF l 704 State oI L California March 15, 1975 15342 ,,2,�e?'2,5C€:; -<; 25,612.50 Dept. of Transportation 120 S. Spring Street PO Bog 2304 Los Ange ?es, Ca. 90051 1120 1531,2114 1: 12 2 2111 2 2 401:072111 "26055 Join* Fund Use isputed By WILLIAMSCHREIBER a m.oaar AIMSUfl SANTA ANA — Orange County supervisors have made it clear they want toretain full "over- view authority" on expenditure of federal hous- ing and community development funds flowing into the county. That demand has apparently put them in line for a confrontation with officials of several small cities who joined the county last year in a con- sortium to qualify for the funding. The county consortium has already received nearly $1.4 million in the community develop- ment money and Reed Flory, county housing of- ficer, said second -year allocations could top the $3millionmark: •. TO QUALIFY as an "urban county" eligible for the U.S. aid, a county must have had 200,000 or more population in the 1970 census. Orange County had only 180,000. But the federal law permits any number of local government entities to band together to meet the population guideline. Last year, Flory said, all 17 cities in the county that had populations under 50,000 in 1970 chose to join the consortium. The larger cities were eligible to setup their own programs. "This year, we won't know until January which cities will participate because they ha- ven't signed cooperation agreements as yet," Flory said. ATTHEIR meeting Wednesday, supervisors were asked to adopt general guidelines for the kind of community improvement projects that would be top priority for funding. The board members adopted the guidelines but said they want to be sure the county main- tains control over all project planning, even if it lies in a city. There was some difference of opinion about that philosophy among supervisors but a majori- ty seemed to favor county control with city cooperation. Flory said the cities that don't like the ar- rangement could simply drop out. The result would be a loss of a portion of re- venues since money is added to the county's al- Iocation with each city that joins the program. THE MAIN difference of opinion that seemed to be appearing at this week's 90- minute public hearing revolved around Flory's contention that too much of the money is being spent on "public improvement projects" such as curbs, gutters, sidewalks and street lights." Flory's new guidelines, which were ul- timately accepted by the board, call for more emphasis orrsenior citizen projects, reduction in housing costs and actual rehabilitation of homes and other buildings in blighted areas. But members of the audience, particularly those representing Mexican-American barrio communities, said they want more of the public improvements in addition to the other projects. Several city representatives who spoke, in- cluding Newport Beach Councilwoman Lucille Kuehn, stressed the desire of the cities to choose their own priority projects rather than having the county do the selecting for them. . Flory assured supervisors that additional public meetings will take place before any pro- ject list is drawn up for the coming year. OFFICE OF THE CITY CLERK DATE March 11, 1976 TO: City Manager / J SUBJECT: Acquisition of Corona del Mar Property G._,7c. Attached are the original Agreement to Purchase, Deed of Trust and Promissory Note which have been fully executed by the City for transmittal to the State. Acting City Clerk DG:dl Att cc: City Attorney r, STATE OF CALIFORNIA — BUSINESS AND TRANSPORTATION AGENCY EDMUND G. BROWN JR., Governor DEPARTMENT OF TRANSPORTATION DISTRICT 7, P.O. BOX 2304, LOS ANGELES 90051 o7 -ORA -1 Parcel 41339 -01 -01 City of Newport peach 330 Newport Boulevard Newport Beach, California 92660 Attn: Mr. Robert L. Wynn City Manager Gentlemen: The Department of Transportation hereby offers to sell the above referenced property to the City of Newport Beach for the appraised value of $450,000.00. The following portion of this letter when the duplicate copy is executed and returned by you with a Resolution from the City Council will constitute the agreement for the purchase. This Resolution must indicate that this property will be purchased for public purposes. The description of the public use must be specified in said Resolution. In the absence of the fore- going Resolution, a clause will be added to the Director's Dead restricting the property to a public use. This transaction will not be processed for the California Highway Commission approval until the duplicate copy of this letter is fully executed and returned with above Resolution. The City of Newport Beach, hereinafter known as purchaser, offers to purchase from the California Department of Trans- portation that certain property referred to above and depicted on the attached map for the State's appraised value of =450,000. The City will make payment in the following manner: 1. Remit $105,000 at the time this agreement is executed and returned to the Department of Transportation. 2. Execute a Deed of Trust naming the State of California as beneficiary with payments including interest of seven percent (7%5 of $200,000 due July 1, 1976. The remaining balance, including; interest, will be due July 1, 1977. City of Newport Beach .2- Please indicate exactly how title is to be vested% City of Newport Beach, a ggoicipal corporation It is expressly understood by the purchaser that the right, title and interest in the property to be transferred by this sale shall not exceed that vested in the State of California and that no Policy of Title Insurance will be furnished or escrow fees paid by the State of California in this transaction. It is further understood that the purchaser shall not have use of the property until a Dissector's Deed has been recorded. The purchaser agrees to the above terms and conditions of sale. Place of execution Newport Beach, California Date of execution . ATTEST: CITY OF NEWPORT BEACH By City Mayor The terms and conditions of the above offer are hereby accepted subject to the approval of the California Highway Commission. For Department of anspor a on W. J. Kenney Deputy District Director Right of Way Approved as to Form Asat. City Attorney N iw Edmund G. Brown Jr. STATE OF CALIFORNIA— BUSINESS AND TRANSPORTATION AGENCY 9QXftX;L911 AW Go.,m, DEPARTMENT OF TRANSPORTATION DICTRICT 7, P.O. BOX 2304, LOS ANGELES 90054 March 31, 1976 7 -Ora -1 Parcel 041339 -01 -01 INSTALLMENT NOTE - Interest Included $345,000.00 Newport Beach, California March 31, 1976 In installments as herein stated, for value received, we, jointly and severally, promise to pay to the State of California, or order at 120 South Spring Street, Los Angeles, California, the sum of Three Hundred Forty Five Thousand and 00 /100 Dollars ($345,000.00) with interest from March 31, 1976, on unpaid principal at the rate of seven (7) percent per annum; principal and interest payable in two installments, the first installment due July 1, 1976, in the amount of $200,000.00 or more, the second installment due July 1, 1977, on which day the unpaid balance of said principal sum with the unpaid interest due thereon, shall become due and payable. Each payment shall be credited first on interest then due and the remainder on principal, and interest shall thereon cease upon the principal so credited. Should default be made in payment of any installment when due, the whole sum of principal and interest shall at the option of the holder of this note become immediately due, principal and interest payable in lawful money of the United States, If action be instituted on this note, we promise to pay such sum as the Court may fix as attorney fee. This note is secured by Deed of Trust to Title Insurance and Trust `' Corlpany, a California corpora�icn, as Trustee. Tnere shall be a penalty of 5;p of any payment lmiich is paid more than 10 days after its due date. ATTEST: Cj TY nF NF.FdPQRT RFAMI I by. By Acting City Clerk Mayor RECORDI`trs - FQUESTED BY.. r N AND WHEN RECORDED MAIL TO N.— Department of 'Transportation St. =et P 0. B v 2304, Terminal Address City a S:er= _Los Anoe'es, CA 90051 TO 497 C N AP#F120 -27 -19 SPACE ABOVE THIS LINE FOR RECORDER'S USE CORPORATION DEED OF TRUST AND ASSIGNMENT OF RENTS —SHORT FORM Ora- 1/41339 This Deed of Trust, made this 30th day of !',larch, 1976 between the City of Newport Beach a corporation organized under the laws of the State of California herein called TRUSTOR, whose address is 3300 W. Newport Boulevard, Newport Beach, CA 92660 (number and street) (city) (zone) (state) TITLE INSURANCE AND TRUST COMPANY, a California corporation, herein called TRUSTEE, and the State of California herein called BENEFICIARY, Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF SALE, that property in County, California, described as: Attached hereto marked Exhibit "A" TOGETHER WITH the rents, issues and profits thereof, SUBJECT. HOWEVER, to the right, power and authority given to and conferred upon Beneficiary by paragraph (10) of the provisions incorporated herein by reference to collect and apply such rents, issues and profits. For the Purpose of Securing: 1. Performance of each agreement of Tru =tor incorporated by reference or contained herein. 2. Payment of the indebtedness evidenced by one promissory note of even date herewith, and any extension or renewal thereof, in the principal sum of S-3-5 , 00-00 executed by Truster in favor of Beneficiary. To Protect the Security of This Deed of Trust, Trustor Agrees: By the execution and delivery of this Deed of Trust and the note secured hereby, that provisions (1) to (14), inclusive, of the fictitious deed of trust recorded in Santa Barbara County and Sonoma Countv October 18, 1961, and in all other counties October 23. 1961, in the book and at the page of Official Records in the office of the county recorder of the county where said property is located, noted below opposite the name of such county, viz.: COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE Alameda 435 684 Kings 792 833 Placer 895 301 Sierra 29 335 Alpine 1 250 Lake 362 39 Plumas 151 5 5iskiyou 468 181 Amador 104 348 Lassen 171 471 Rivenide 3005 523 5.1. no 1105 182 Buffo 1145 1 Los Angeles T2055 699 Sacramento 4331 62 Sonoma 1851 689 Calaysras 145 152 Madera 810 170 Snn Benito 271 383 Stonislaus 1715 456 Colusa 296 617 Maria 1508 339 San Bernardino 5567 61 suite, 572 297 Contra fcsto 3978 47 Mariposa 77 292 Sea Francisco A332 905 T�hama 401 239 Dei Norte 78 414 Mendocino 579 530 Son Joaquin 2470 311 Trinity 93 356 El Dorado 568 456 Merced 1547 538 San Luis Obispo 1151 12 Tulare 2294 275 Fresno 4626 572 Mod. 184 851 Son Mateo 4078 420 Tuolumne 135 47 Glenn 422 184 Mono 52 429 Sonto Barbaro 1878 860 Ventura 2062 3a6 Humboldt 657 527 Monterey 2194 538 Santa Clara 5336 341 Y.I. 653 245 Imperial 1091 SDI N.P. 639 86 Santa Co.. 1431 .494 Yuba 334 486 Inyo 147 598 Nevada 305 320 Shosta 684 528 Kern 3427 60 Orange 5889 611 San Diego Series 2 Book 1961, Page 183887 (which provisions, identir;al iu all counties, are printed on the reverse hereof) hereby are adopters and incorporated herein and made a part hereof as fully as though set forth herein at length; that it will observe and perform said provisions: and that the references to property, obligations, and parties in said provisions shall be construed to refer to the property, obligations, and parties set forth in this Deed of Trust. The undersigned Truster requests that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to it at its sddrrss herainbefore set for.:_ CITY OF NEWPORT BEACH STATE OF CALIFORtiL4. 1 Signature ofTrusior COUNTY OF O?ANCE }SS. �''� On "a In 1 r1 19 7ti before me, the I - -BY [.-/r 91_ _00 / -.' 1) -• Y�^�' "Or undersigned, a Notary r':' —hhC In and for said State, personally �a�y %.a y+ucauut appeared- _ Zonald A. McInnis known to rye to be theOr 'fkt- ti,tee:t, and known to roe to be of the corporation than executed the within instrument, and known to we to be the persun oho executed the within insuumeat on behalf of the corpora;,fon therein ndmed, and acknowledged to ire that such corporrinor`e.x,,wed the within instrument pursuant fu its by -lawe . or a resuhrl,+_flt oard of directors. j W}TNESS m: hand and :vial eal. ! 1 r'SeaL /'pp , Signature -_,__. Name '' pe�pr Print rd) Notary Public in and for said State i;t1!TEST_ — '� h' neelent Acting, City Cler see m t l_L J EXHIBIT "A" That portion of Blocks 93 and 96 of The Irvine Subdivision, as shown on a map recorded in Book 1, page 88 of Miscellaneous t +aps, Records of Orange County, described as follows: Be�,inning at the intersect"en of the northerly extension of Fortieth Avenue, now known as Narcissus Avenue, with the northeast line of Corona del Polar as said center line and northeast line are shown on a map recorded in Book 3, pages 41 and 42 of i +iiscellaneous i1a ps, Records of Orange County, California, said northeast line being the southwest line of said Block 96; thence North 50° 14' 20" West along said tract and block line and the southwest line of said Block 93 to the northeasterly extension of the center line of Thirty - Sixth Avenue as shown on said Corona del Nlar map, now known as jasmine Avenue; thence North 520 341 20" East 197.40 feet to a point in a curve, the radius point of which bears North 370 56t 10" East 4905.00 feet from said point; thence southeasterly along said curve through a central angle of 80 10' 30 ", a distance of 699.85 feet to the beginning of a tangent line; thence South 60° 141 20" East along said tangent line 485.00 feet; thence South 390 15' 30" West 348.75 feet to the point of beginning. EXCEPTING THEREFROM all oil, gas and other hydrocarbon substances in and under said land, together with the right to explore for, develop, extract and remove the same therefrom by slant drilling or other like methods, with derricks or drill rigs located outside of the boundaries of said property, as reserved in the deed from The Irvine Company, a corporation, recorded May 5, 1959, in Book 4698, page 478 of Official Records. STATE OF CALIFORNIA— BUSINESS AND TRANSPORTATION AGENCY L'`- �1TiUi1d G. Bro:,rn Jr. 243V11AB ro i.1 n Governor DEPARTMENT OF TRANSPORTATION 1 DISTRICT 7, P.O. BOX 2301, LOS ANGELES 90056;�,n i" March 31, 1976 7 -Ora -1 Parcel 041339 -01 -01 INSTALLIVMNT NOTE - Interest Included $345,000.00 Newport Beach, California March 31, 1976 In installments as herein stated, for value received, we, jointly and severally, promise to pay to the State of California, or order at 120 South Spring Street, Los Angeles, California, the sum of Three Hundred Forty Five Thousand and 00 /100 Dollars (345,000.00) with interest from March 31, 1976, on unpaid principal at the rate of seven (7) percent per annum; principal and interest payable in two installments, the first installment due July 1, 1976, in the amount of $200,000.00 or more, the second installment due July 1, 1977, on which day the unpaid balance of said principal sum with the unpaid interest due thereon, shall become due and payable. Each payment shall be credited first on interest then due and the remainder on principal, and interest shall thereon cease upon the principal so credited. Should default be made in payment of any installment when due, the whole sum of principal and interest shall at the option of the holder of this note become immediately due, principal and interest payable in lawful money of the United States, If action be instituted on this note, we promise to pay such sum as the Court may fix as attorney fee. This note is secured by Deed of =rust to Ti .-le Insurance and Trust Company, a California corporation, as Trustee. re.re shall be a penalty of 5j of any payment vnich is paid more than 10 days after its due date. ATTEST: CITY CIF NEWPORT BEACH by: By Actin; City Clerk Mayor AND WHEN RECORDED MAIL TO Name '_Departk ment of Transportat::.. I S"s.t P. 0. _o.,: 2304, Terminal . -nc Address Coy 8 5,.,e LLos An;eles, CA 90051 TO 497 C N AP #120 -27 -19 ' SPS:GE ABOVE THIS LINE FOR RECORDER'S USE CORPORATION DEED OF TRUST AND A� :i'.GNMENT OF RENTS —SHORT FORM Ora - 1/41339 This Deed Of Trust, made this �Oth 'I�iy of March, 1976 between the City of Newport Beach a corporation organized under the laws of the State of Ca i ifornia ' herein called TRUSTOA, whose address is 3300 W. Newport Boulevard, Newport Beach, CA 9266o (number and street) (city) (zone) (state) TITLE INSURANCE AND TRUST COMPANY, a California corporation, herein called TRUSTEE, and the State of California , herein called BENEFICIARY, �p W Itnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF SALE, that property in County, California, described as: Attached 'hereto marked Exhibit "A" TOGETHER WITH the rents, issues and profits thereof, SUBJECT. HOWEVER, to the right, power and authority given to and conferred upon Beneficiary by paragraph (10) of the provisions incorporated herein by reference to collect and apply such rents, issues and profits. For the Purpose of Securing: 1. Performance of each agreement of Trustor innu'porated by reference or contained herein. 2. Payment of the indebtedness evidenced by one promissory note of even date herewith, and am' extension or renewal thereof, in the principal sum of 8 3 4 5 , H 0 U _ 0 0 executed by Trustor in facer of Beneficiary, To Protect the Security of This Deed of 'Crust, Trustor Agrees: By the execution and delivery of this Deed of Trust and the note secured hereby, that provisions (1) to (14), inclusive, of the fictitious deed of trust recorded in Santa Barbara County and Sonoma County October 18, 1961, and in all other counties October 23, 1961, in the book and at the page of Official Records in the office :+f the county recorder of the county where said property is located, noted below opposite the name of such county, viz.: COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE Alameda 435 684 Kings 792 833 Placer 895 301 Sierra 29 335 Alpine 1 250 Lake 362 39 Plumes 151 5 Siskiyou 468 181 A...Jo, 104 348 - Lassen 171 471 Riverside 3005 523 Solon. - 1105 182 Butte 1145 1 Los Angeles T2055 899 Sacramento 4331 62 Sonoma 1851 689 Cniaveras 145 152 Madera 810 170 son Benito 271 383 Stanishe., 1715 456 Calusa 296 617 Mari. 1508 339 San Bernardino 5567 61 Sutter 572 297 Contra Cost, 3978 47 Mariposa 77 292 San Francisco A332 905 Tehama 401 289 Del Norte 78 414 Mendocino 579 530 San Joaquin 2470 311 Trinity 93 366 El Dorado 568 456 Merced 1547 538 San Luis Obispo 1151 12 Tuiare 2294 275 Fresno 4626 572 Mad. 184 851 San Mateo 4078 420 Tuolumne 135 47 Glenn 422 184 Mono 52 429 Santo Barbara 1878 860 Venture 206L 386 Humboldt 657 527 Monterey 2194 538 Santa Clore 5336 341 Yale 653 245 Imperial 1091 501 Napo 639 86 Santa Crux 1431 494 Yaba 334 486 Ingo 147 598 Nevada 305 320 Shasta 684 528 Kern 3427 60 Ora.ge 5889 611 San Diego Series 2 Book 1961, Page 183887 (which provisions, ides!i, a! in all counties, are phi "ted on the reverse I -reef) hereby are adopted and incorporated herein and made a part hereof as fully as thoa_h set forth herein at lrns;h; that it will observ- and perform said provisions' and that the references to property, obligations, and parties ,n said provisions shall he construed to refer to the property, obligations, and parties set forth in this Deed of Trust. The undersigned True,: requests that a copy of any Notice of Defa,:lt and of any Notice of Sale hereunder he mailed to it at its address hereinbefore.set forth. CITY OF NERTPORT BEACH STATE OF CALIFO °L IA, Signature of Trustor SS. COUNTY OF. PA' .- - may: z - /e :;? —.. Ot>____�?_'- "S - ^_- 1!,' lo7ti ._.., before me, the 3 /�LL�_L >i� lib undersigu:d, a Notar+ .;Public in and for said Y:'._te, personally IlaVOr u- cucpr:atien _ Donald A. McL_;, }is known to me to h, th- t1aV0r _..= rea eeeq and - „— -- Doris George y known to -.r -z to . y the ACtlnq City ClrU ` M of the corporation executed the within instrument, and known to me to he the -r, ,r, who executed the within mst rc:: -n on behalf of the mrpt c: i h the rein named, and aokrowled_ n r to [hut such co no a d th, within instrument nu its by -laws or s�Y,r_ ,hard of directors. i iS�Crv1 =•;j, n7and, na] y,u. \acne Vgpp,i nr l'nm-d, N.,tary Public, in and for said me ' BAT TEST - -- -_ _ -- � �� Rrrrieferst r ,'r''G Acting City Clem seems Title Ortiz r No. - . . Escrow or bete: 1n_. EXHIBIT "q" Tl:"t portion of Blocks 93 and 96 of The Irvine Subdivision, as shown c; a map recorded in Book 1, page 88 of Miscellaneous Maps, Recordz: of Orange County, described as follows: 3, .inning at the intersection of the northerly extension of Fortie'-..i Avenue, now known as Narcissus Avenue, with the northeast line o:" Jorona del Mar as said center line and northeast line are shown a map recorded in Book 3, pages 41 and 42 of Mli5 cellarneous Maps, (: cords of Orange County, California, said northeast line being the so"..;hwest line of said Block 96; thence North 50° 141 20" West along —id tract and block line and the southwest line of said Block " "? to the northeasterly extension of the center line of Thirty - 4i:cth .'venue as shown on said Corona del Mar map, now known as Jasmine Avenue; thence North 520 341 20" East 197.40 feet to a point in a curve, "-he radius point of which bears North 37° 561 10" East 4905.00 feet from said point; thence southeasterly along said curve through a central angle of 8° 101 30 ", a distance of 699.85 feet to the beginning of a tangent line; thence South 60° 14' 20" East along said tangent line 485.00 feet; thence South 390 151 30" West 348.75 feet to the point of beginning. EKCEPTING THEREFROM all oil, gas and other hydrocarbon substances in and under said land, together with the right to explore for, develo_., extract and remove the same therefrom by slant drilling or other ;.ke methods, with derricks or drill rigs located outside of the bounda_ies of said property, as reserved in the .deed from The Irvine Compan,:, a corporation, recorded May 5, 1959, in Book 4698, page 478 of Off.__ial Records. t,