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HomeMy WebLinkAboutC-7241-10 - Beacon Bay, 7 - MOL 2022Recorded in Official Records, Grange County Hugh Nguyen, Clerk -Recorder II $�i III III 111 III I 111 11 III II NO FEE Recording Requested By *$ R 0 0 1 3 7 8 4 9 1 5 $ * and when Recorded Return To: 2022000211164 9:26 am 06/10/22 105 403A M 11 507 City of Newport Beach 4083.75 4083.75 0.00 0.00 12.00 0.00 0.000.000.00 0.00 100 Civic Center Drive Newport Beach, California 92660 Attn: City Clerk (Exempt From Recording Fees Pursuant to Government Code § 27383) pT-r 4 �G 7' �� C` (SPACE ABOVE THIS LINE FOR RECORDER'S USE rpm f„ I I ✓'A /v MEMORANDUM OF LEASE THIS MEMORANDUM OF LEASE is made and entered into between the City of Newport Beach, a California municipal corporation and charter city ("Lessor") and Tradition Asset Management, LLC, a California limited liability company ("Lessee"). Lessor hereby leases to Lessee that real property located in the City of Newport Beach, County of Orange, California, described in Exhibit "1" attached hereto ("Property"). The term of the Lease is fifty (50) years, commencing June2022 and ending June 1() 2072. This Memorandum of Lease is subject to the terms, conditions and provisions of an unrecorded Lease between the parties dated June 1_, 2022, which is incorporated herein by reference. Unless extended by a recorded amendment or supplement hereto, this Memorandum of Lease will automatically terminate as of June 102072. [SIGNATURES ON NEXT PAGE] UNRECORDED LEASE Recording Requested By and When Recorded Return To. - City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 Attn: City Clerk (Exempt From Recording Fees Pursuant to Government Code § 27383) r LL- .fL (SPACE ABOVE THIS LINE FOR RECORDER'S USE Comt*A Ij%uli Va ���-' I MEMORANDUM OF LEASE THIS MEMORANDUM OF LEASE is made and entered into between the City of Newport Beach, a California municipal corporation and charter city ("Lessor") and Tradition Asset Management, LLC, a California limited liability company ("Lessee"). Lessor hereby leases to Lessee that real property located in the City of Newport Beach, County of Orange, California, described in Exhibit 1" attached hereto ("Property"). The term of the Lease is fifty (50) years, commencing June2022 and ending June 10 2072. This Memorandum of Lease is subject to the terms, conditions and provisions of an unrecorded Lease between the parties dated June lb , 2022, which is incorporated herein by reference. Unless extended by a recorded amendment or supplement hereto, this Memorandum of Lease will automatically terminate as of June 110 [SIGNATURES ON NEXT PAGE] UNRECORDEDLEAST IN WITNESS WHEREOF, the Parties have caused this Memorandum of Lease to be executed on the dates written below. APPROVED AS TO FORM: OFFICE OF T E C TY ATTORNEY Date: S 2 2 By: 7 A ro Harp City Attorney ATTEST: Date: & 1' By: Leilani I. Brown City Clerk r ,u CITY OF NEWPORT BEACH, a California municipal corporation Date: 617I ?4 ?'4� By: Gra . Leung City Manager LESSEE: TRADITION ASSET MANAGEMENT, LLC, a California limited liability company Date: 6 Z-ZozZ By: I -. A James J. Irwin, Manager Date: 6 - Z-Zv Z.Z Elizabeth A. Irwin, Manager 2 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California ) County of QRArIAGE ) On 3VT4E 1 , 2022 before me, JEI Date IfEo, IAWP j rovL,vEY Here Insert Name and Title of the Officer personally appeared 6?-ACE IC . UEVN(7 Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that l4e/she/the�4 executed the same in his/her/t"r authorized capacity(+&&), and that by4ie/her/t4eir signature(e) on the instrument the persol-4), or the entity upon behalf of which the person(&} acted, executed the instrument. ------------- JENNIFER ANN MULVEYY Notary Public • California Orange County Commission d 2375299 «•'�,MY Comm. Expires Oct 12, 2025 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my nd and official seal. Signature Sig atu of Notary Public Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: 4•r�i,�✓.-�G'�: J 'N 'L �.Y��dI•.�/ •rr,•er: rr�•J6 .ter/•✓ '� 'tr 'erI 'ei 'rri rr, ✓ '�6'�r '��'d •ram 'er •ter •✓� ✓ • •✓yrJ .t ..4.•✓5-✓ ' '✓6 � 'ari• •ry .� . CALIFORNIA ALL- PURPOSE CERTIFICATE OF ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of C IFORNIA } P County of r Mirko Castillo Notary Public On � � �i ' ��� before me, y � inname and ti e oft o ices WWI personally appeared 1 74/j ,�ti �li�/� lll/l — �, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. I� MIRKO CASTILLO VVqNESS my hand and official seal. Notary Public - California =r _ Orange CountyIt t Commission 2 2291631 LAA-f My Comm. Expires Jun 12, 2023 ---NDtary Public Signature (Notary Public Seal) ADDITIONAL OPTIONAL INFORMATION INSTRUCTIONS FOR COMPLETING THIS FORM This form complies• with current California statutes regarding notary wording and, DESCRIPTION OF THE ATTACHED DOCUMENT if needed, should be completed and attached to the document. Acknowledgments front other states may be completedfor documents being sent to that state so long as the wording does not require the California notary to violate California notary law. (Title or description of attached document) • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment. • Date of notarization must be the date that the signer(s) personally appeared which (Title or description of attached document continued) must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her Number of Pages Document Date commission followed by a comma and then your title (notary public). • Print the name(s) of document signer(s) who personally appear at the time of notarization. CAPACITY CLAIMED BY THE SIGNER • Indicate the correct singular or plural forms by crossing off incorrect forms (i.e. he/she/they,- is /are ) or circling the correct forms. Failure to correctly indicate this ❑ Individual (s) information may lead to rejection of document recording. ❑ Corporate Officer . The notary seal impression must be clear and photographically reproducible. Impression must not cover text or lines. If seal impression smudges, re -seal if a (Title) sufficient area permits, otherwise complete a different acknowledgment form. ❑ Partner(s) • Signature of the notary public must match the signature on file with the office of the county clerk. ❑ Attorney -in -Fact Additional information is not required but could help to ensure this ❑ Trustee(s) acknowledgment is not misused or attached to a different document. Other Indicate title or type of attached document, number of pages and date. ❑ Indicate the capacity claimed by the signer. If the claimed capacity is a corporate officer, indicate the title (i.e. CEO, CFO, Secretary). 3 :%ersic�'> >��re==. tictrCi3�=G� uGtr: i O-?T; -i £ 65 • Securely attach this document to the signed document with a staple. EXHIBIT "1" LEGAL DESCRIPTION OF THE PROPERTY That certain real property located in the City of Newport Beach, County of Orange, California, described as follows. - Lot 7 as shown on the map filed in Book 9, Pages 42 and 43 of Record of Surveys in the Office of the County Recorder, County of Orange, State of California. 3 Escrow No.: 22-8021-JM EF-502-A-R15-0221-30004936-1 BOE-502-A (P1) REV. 15 (02-21) PRELIMINARY CHANGE OF OWNERSHIP REPORT To be completed by the transferee (buyer) prior to a transfer of subject property, in accordance with section 480.3 of the Revenue and Taxation Code. A Preliminary Change of Ownership Report must be filed with each conveyance in the County Recorder's office for the county where the property is located. NAME AND MAILING ADDRESS OF BUYER/TRANSFEREE (Make necessary corrections to the printed name and mailing address) Tradition Asset Management, LLC, a California Limited Liability Company 19450 Countrywood Dr. Yorba Linda, CA 92886 I Claude Parrish Orange County Assessor 500 S. Main Street, First Floor, Suite 103 Orange, CA 92868-4512 or P.O. Box 1948 Santa Ana, CA 92702-1948 (714) 834-5031 www.ocgov.com/assessor ASSESSOR'S PARCEL NUMBER 988-88-039 SELLERrrRANSFEROR Taylor Pillsbury Globe Trust BUYER'S DAYTIME TELEPHONE NUMBER I BUYER'S EMAIL ADDRESS STREET ADDRESS OR PHYSICAL LOCATION OF REAL PROPERTY 7 Beacon Bay, Newport Beach, CA 92660 This property is intended as my principal residence. If YES, please indicate the date of occupancy MO [-67AR ❑ YES NO or intended occupancy. ❑ YES ® NO Are you a disabled veteran or a unmarried surviving spouse of a disabled veteran who was compensated at 100% by the Department of Veterans Affairs? MAIL PROPERTY TAX INFORMATION TO (NAME) Tradition Asset Management, LLC, a California Limited Liability Company MAIL PROPERTY TAX INFORMATION TO (ADDRESS) CITY STATE I ZIP CODE 19450 Countrywood Dr. Yorba Linda CA 92886 PART 1. TRANSFER INFORMATION Please complete all statements. YES NO This section contains possible exclusions from reassessment for certain types of transfers. ❑ A. This transfer is solely between spouses (addition or removal of a spouse, death of a spouse, divorce settlement, etc.). ❑ B. This transfer is solely between domestic partners currently registered with the California Secretary of State (addition or removal of a partner, death of a partner, termination settlement, etc.). ❑ * C. This is a transfer: ❑ between parent(s) and child(ren) ❑ from grandparent(s) to grandchild(ren). Was this the transferor/grantor's principal residence? ❑ YES ❑ NO ❑ E" D. This transfer is the result of a cotenant's death. Date of death ❑ ' E. This transaction is to replace a principal residence owned by a person 55 years of age or older. Within the same county? ❑ YES ❑ NO ❑ E" F. This transaction is to replace a principal residence by a person who is severely disabled. Within the same county? ❑ YES ❑ NO ❑ E I" G. This transaction is to replace a principal residence substantially damaged or destroyed by a wildfire or natural disaster for which the Governor proclaimed a state of emergency. Within the same county? ❑ YES ❑ NO ❑ H. This transaction is only a correction of the name(s) of the person(s) holding title to the property (e.g., a name change upon marriage). If YES, please explain: ❑ E 1 I. The recorded document creates, terminates, or reconveys a lender's interest in the property. ❑ E I J. This transaction is recorded only as a requirement for financing purposes or to create, terminate, or reconvey a security interest (e.g., cosigner). If YES, please explain: ❑ E I K. The recorded document substitutes a trustee of a trust, mortgage, or other similar document. L. This is a transfer of property: ❑ E 1 1. to/from a revocable trust that may be revoked by the transferor and is for the benefit of ❑ the transferor, and/or ❑ the transferor's spouse ❑ registered domestic partner. ❑ E 2. to/from an irrevocable trust for the benefit of the ❑ creator/grantor/trustor and/or ❑ grantor's/trustor's spouse ❑ grantor's/trustor's registered domestic partner. ❑ E M. This property is subject to a lease with a remaining lease term of 35 years or more including written options. ❑ N. This is a transfer between parties in which proportional interests of the transferor(s) and transferee(s) in each and every parcel being transferred remain exactly the same after the transfer. ❑ O. This is a transfer subject to subsidized low-income housing requirements with governmentally imposed restrictions, or restrictions imposed by specified nonprofit corporations. ❑ ' P. This transfer is to the first purchaser of a new building containing an active solar energy system. ❑ Q. Other. This transfer is to * Please refer to the instructions for Part 1. Please provide anv other information that will help the Assessor understand the nature of the transfer. THIS DOCUMENT IS NOT SUBJECT TO PUBLIC INSPECTION EF-502-A-R15-0221-30004936-2 BOE-502-A (P2) REV. 15 (02-21) PART 2. OTHER TRANSFER INFORMATION Check and complete as applicable. Escrow No.: 22-8021-J M A. Date of transfer, if other than recording date: B. Type of transfer: j�Purchase ❑ Foreclosure ❑ Gift ❑ Trade or exchange ❑ Merger, stock, or partnership acquisition (Form BOE-100-B) ❑ Contract of sale. Date of contract: ❑ Inheritance. Date of death: ❑ Sale/leaseback ❑ Creation of a lease ❑ Assignment of a lease ❑ Termination of a lease. Date lease began: Original term in years (including written options): Remaining term in years (including written options):. ❑ Other. Please explain: C. Only a partial interest in the property was transferred. ❑ YES NO If YES, indicate the percentage transferred: PART 3. PURCHASE PRICE AND TERMS OF SALE Check and complete as applicable. A. Total purchase price $ % VeS B. Cash down payment or value of trade or exchange excluding closing costs Amount $M V27r&C AM C. First deed of trust @ % interest for years. Monthly payment $ Amount $AJ/, _ ❑ FHA ( Discount Points) ❑ Cal -Vet ❑ VA (_ Discount Points) ❑ Fixed rate ❑ Variable rate ❑ Bank/Savings & Loan/Credit Union ❑ Loan carried by seller ❑ Balloon payment $ Due date: D. Second deed of trust @ % interest for years. Monthly payment $ Amount $ ❑ Fixed rate ❑ Variable rate ❑ Bank/Savings & Loan/Credit Union ❑ Loan carried by seller ❑ Balloon payment $ Due date: E. Was an Improvement Bond or other public financing assumed by the buyer? DYES MNO Outstanding balance $ F. Amount, if any, of real estate commission fees paid by the buyer which are not included in the purchase price $ G. The property was purchased: K Through real estate broker. Broker name,�nr _- Phone number: 9!/9_7/7- ❑ Direct from seller ❑ From a family member -Relationship ❑ Other. Please explain: H. Please explain any special terms, seller concessions, broker/agent fees waived, financing, and any other information (e.g., buyer assumed the existing loan balance) that would assist the Assessor in the valuation of your property. PART 4. PROPERTY INFORMATION A. Type of property transferred NSingle-family residence ❑❑__Multiple -family residence. Number of units: ❑ Other. Description: (i.e., timber, mineral, water rights, etc.) Check and complete as applicable. ❑ Co-op/Own-your-own ❑ Manufactured home ❑ Condominium ❑ Unimproved lot ❑ Timeshare ❑ Commercial/Industrial B. ❑YES XNO Personal/business property, or incentives, provided by seller to buyer are included in the purchase price. Examples of personal property are furniture, farm equipment, machinery, etc. Examples of incentives are club memberships, etc. Attach list if available. If YES, enter the value of the personal/business property: $ C. [—]YES MNO A manufactured home is included in the purchase price. If YES, enter the value attributed to the manufactured home: $ ❑YES ❑NO The manufactured home is subject to local property tax. If NO, enter decal number: D. ❑YES []NO The property produces rental or other income. If YES, the income is from: ❑ Lease/rent ❑ Contract ❑ Mineral rights ❑ Other: E. The condition of the property at the time of sale was: ❑ Good Please describe: Incentives $ ❑ Average ❑ Fair ❑ Poor CERTIFICATION I certify (or declare) that the foregoing and all information hereon, including any accompanying statements or documents, is true and correct to the best of my knowledge and belief. NAME OF BUYER/TRANSFEREE/PERSONAL REPRESENTATIV /COR ORATE OFFICER (PLEASE PRINT) TITLE EMAIL ADDRESS Elizabeth A. Irwin and James J. Irwin Managers The Assessor's office may contact you for additional information regarding this transaction.