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HomeMy WebLinkAboutC-7435-12 - Beacon Bay, 51 - MOL 2022�AWED @Y AyF.WS TITLE Recording Requested By and When Recorded Return To: City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 Attn: City Clerk Recorded in Official Records, Orange County Hugh I uyen, Clerk -Recorder NO FEE *$ R 0 0 1 3 8 9 5 6 3 2$* 20220002732731:50 pm 08/09/22 9 RW9A M 11 5 0.00 0.00 0.00 0.00 12.00 0.00 0.000.000.00 0.00 (Exempt From Recording Fees Pursuant to Government Code § 27383) &ZE 7 1 M 4 (SPACE ABOVE THIS LINE FOR RECORDER'S USE) MEMORANDUM OF LEASE tAW&Jf-;WV4/Ve 1 D C�xs�2.1.�kel H �THIS MEMORANDUM OF LEASE is made and entered into betweeenof Newport Beach, a California municipal corporation and charter city ("Lessor") and CC Realty Investors 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 August �2022 and ending August _ 9 2072. This Memorandum of Lease is subject to the terms, conditions and provisions of an unrecorded Lease between the parties dated August _ 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 August !1_ 2072. [SIGNATURES ON NEXT PAGE] Ag�1bR�RS TITLE EC S 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) �i 34 (SPACE ABOVE THIS LINE FOR RECORDER'S USE) MEMORANDUM OF LEASE od 641 i 41"e vF tiry c 0-,f v F A�,#-// THIS MEMORANDUM OF LEASE is made and entered into between fhe i of Newport Beach, a California municipal corporation and charter city ("Lessor") and CC Realty Investors 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 August 12022 and ending August 9, 2072. This Memorandum of Lease is subject to the terms, conditions and provisions of an unrecorded Lease between the parties dated August I , 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 August �J2072. [SIGNATURES ON NEXT PAGE] IN WITNESS WHEREOF, the Parties have caused this Memorandum of Lease to be executed on the dates written below. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date: 7-0'--�' By: AV City Attor ey o *yam ATTEST: Date: rt , AM BrownBy: du(k�� City Clerk 0 t o � CITY OF NEWPORT BEACH, a California municipal corporation Date: B .� GraceK. Leung City Manager LESSEE: CC REALTY INVESTORS LLC, a California limited liability company Date: OK By: John L. rci Managing Member K LEGAL DESCRIPTION OF THE PROPERTY That certain real property located in the City of Newport Beach, County of Orange, California, described as follows. - Lot 51 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 CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT A notary public oir 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 OFCO QA ;Dr-ht 0— } } S.S. COUNTY OP �� } Orr �' �7 7 efore me, 1�►`l a Notary Public in and for said state, pehonally appeared L t, CC,% J who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY of PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. �\ WITNESS my hand and official seal. *My MICHELLE PAGE Notary Public • California Orange CountyCommission M 2303565 Comm, Expires Sep 17, 2023 OPTIONAL SECTION CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. [ ] INDIVIDUAL [ ] CORPORATE OFFICER(S) TITLE(S) [ ] PARTNER(S) -- [ ] LIMITED [ ] GENERAL [ ] ATTORNEY -IN -FACT [ ] TRUSTEE(S) [ ] GUARDIAN/CONSERVATOR [ ] OTHER SIGNER IS REPRESENTING: Name of Person or Entity Name of Person or Entity OPTIONAL SECTION THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED BELOW TITLE OR TYPE OF DOCUMENT: NUMBER OF PAGES DATE OF, DOCUMENT SIGNER(S) OTHER THAN NAMED ABOVE CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 ....................... —•_ateC_�. _sa._z� _s� _a�`J-s�.C�Cs�CCs�C_z�C.z� svC.•.aC.�QCC_z�C_�.CCC.. 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 ORAN (9 E ) Na-774R-4 On AuGuv ZIZD'2.1before me, ; 6N/yIFE9. f "..) MV`%/E'i PUBLIC Date �Here Insert Name and Title of the Officer y� / A personally appeared QA F'OS' I:Z P11JiI/ GAt4 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 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. JENNIFER ANN MULVEY Notary Public - California ,; Orange County • Commission/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 Signature d official seal. of N4tary 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: 02016 National Notary Association • www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 Escrow No.: 62969-BF BOE-502-A (P1) REV. 13 (06-17) 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. FOR ASSESSOR'S USE ONLY CC Realty Investors, LLC 7, 7 tt A Park. . f W pjw# berGti, CA otarucv v CLAUDE PARRISH ORANGE COUNTY ASSESSOR (714) 834-5031 ASSESSOR's PARCEL NUMBER 988-880-44 SELLER/TRANSFEROR The McGuinness Family Trust Dated March 14, BUYER'S DAYTIME TELEPHONE NUMBER BUYER'S EMAIL ADDRESS STREET ADDRESS OR PHYSICAL LOCATION OF REAL PROPERTY 51 Beacon Bay, Newport Beach, CA 92660 This property is intended as my principal residence. If YES, please indicate the date of occupancy MO AY YE DAR ❑ YES [:1 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) CC Realty Investors, LLC MAIL PROPERTY TAX INFORMATION TO (ADDRESS) CITY. STATE I ZIP CODE PART 1. TRANSFER INFORMATION Please complete all statements. This section contains possible exclusions from reassessment for certain types of transfers. YES NO ❑ ❑ A. This transfer is solely between spouses (addition orremoval 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). ❑ ❑ " 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 ❑ ❑ F. This transaction is to replace a principal residence by a person who is severely disabled as defined by Revenue and Taxation Code section 69.5. Within the same county? ❑ YES ❑ NO ❑ ❑ G. 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: ❑ ❑ H. The recorded document creates, terminates, or reconveys a lender's interest in the property. ❑ ❑ I. 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: ❑ ❑ J. The recorded document substitutes a trustee of a trust, mortgage, or other similar document. K. This is a transfer of property: ❑ ❑ 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. ❑ ❑ 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. ❑ ❑ L. This property is subject to a lease with a remaining lease term of 35 years or more including written options. ❑ ❑ M. 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. ❑ ❑ N. This is a transfer subject to subsidized low-income housing requirements with governmentally imposed restrictions, or restrictions imposed by specified nonprofit corporations. ❑ ❑ - O. This transfer is to the first purchaser of a new building containing an active solar energy system. ❑ ❑ " P. Other. This transfer is to " Please refer to the instructions for Part 1. Please provide any other information that will help the Assessor understand the nature of the transfer. THIS DOCUMENT IS NOT SUBJECT TO PUBLIC INSPECTION Escrow No.: 62969-BF BOE-502-A (P2; REV. 13 (J6-1 7) PART 2. OTHER TRANSFER INFORMATION A. Date of transfer, if other than recording date: Check and complete as applicable. B. Type of transfer: ❑ 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 PART 3. PURCHASE PRICE AND TERMS OF SALE A. Total purchase price B. Cash down payment or value of trade or exchange excluding closing costs If YES, indicate the percentage transferred: % Check and complete as applicable. $ i 1a. oCi C4H Amount $ C. First deed of trust @ % interest for years. Monthly payment $ Amount $ ❑ 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/Saving & Loan/Credit Union ❑ Loan carried by seller ❑ Balloon payment $ Due date: E. Was an Improvement Bond or other public financing assumed by the buyer? ❑YES ❑NO 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: ❑ Through real estate broker. Broker name: Phone number: ( ) ❑ 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 ❑ Single-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. DYES ❑NO 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 ❑NO 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: ElLease/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 1 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. SIGNATURE ► e OR C�� OFFICER NAME OF BU SFEREEIPERSONAL REPRESENTATIVE/CORPORATE OFFICER (PLEASE PRINT) TITLE EMAIL ADDRESS The Assessor's office may contact you for additional information regarding the transaction.