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HomeMy WebLinkAboutC-9272-1 - Conveyance Agreement (Balboa Marina West - Public Docks) (201 East Coast Highway)U CONVEYANCE AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND THE IRVINE COMPANY LLC (Balboa Marina West — Public Docks) This Conveyance Agreement ( "Agreement ") is made and entered into as of April 25, 2023 (the "Effective Date"), by and between the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ( "City ") and THE IRVINE COMPANY LLC, a Delaware limited liability company ("Company"). City and Company are sometimes referred to herein individually as a "Party" and collectively as the "Parties." RECITALS A. On November 25, 2014, City adopted Resolution No. 2014-99 upholding and affirming the approval of Mitigated Negative Declaration 2013-002 for a joint project by City and Company (the "Balboa Marina West Project"), which includes reconfiguring Company's existing private marina property to construct a new public boat berthing facility (the "Public Docks") which shall include a gangway and twelve (12) public boat slips (comprising eight (8) new boat slips and four (4) boat slips relocated from the existing private marina), and constructing a public pedestrian walkway from E. Coast Highway to the Public Docks (the "Public Walkway"). B. On January 16, 2015, City and Company filed a joint application to the California Coastal Commission ("CCC') under Application No. 5-15-0087 (the "Application") for the Balboa Marina West Project, which Application was updated on February 29, 2016. C. On February 9, 2017, CCC approved the Application (as updated) as Coastal Development Permit No. 5-15-0087 with certain conditions as more specifically set forth in that certain Notice of Intent to Issue Permit dated March 16, 2017 (the "Initial CDP"), which Initial CDP was amended on April 12, 2023 by Coastal Development Permit No. 5-15-0087-Al (together with the Initial CDP, the "CDP"). As amended, Conditions 15 and 17 of the CDP require that the Public Walkway Dedication (as defined in Section 3(a) below) and a deed restriction including all the CDP special conditions (the "Deed Restriction") be executed and recorded prior to City's issuance of a certificate of occupancy or its equivalent for the Public Docks. D. The CDP contemplates that the Public Docks will be constructed partly on a portion of Company's property more particularly described and depicted on Exhibit A-1 and A-2 attached hereto (the "Company Property"), and partly on a portion of State of California tidelands held in trust and managed by the County of Orange ("County") more particularly described and depicted on Exhibits B-1 and B-2 attached hereto (the "Tidelands"). E. Company will initially lease Tidelands from the County for construction of the Public Docks (the "Company Lease"). Upon completion of the Public Docks and Public Walkway and their inspection and acceptance by City, Company shall convey and/or dedicate the Public Docks, Public Walkway, Company Property, and a vehicular access easement as further described herein, to the City. Concurrently with City's acceptance of the aforesaid conveyance and/or dedication, City will execute a lease with County for the Tidelands for the operation and maintenance of the Public Docks (the "City Lease"), which City Lease shall be in the form approved by the County on December 20, 2023 under County Board of Supervisor Resolution No. 22-160, subject to any modifications approved by City and County with respect to the Americans with Disabilities Act 78334_2 issue as raised by County in such Resolution No. 22-160. The Company Lease, in accordance with its terms, shall expire and terminate on the effective date of the City Lease. F. Company desires to proceed with the Balboa Marina West Project, to construct the Public Docks and the Public Walkway and upon completion of their construction to convey and/or dedicate the Company Property, the Public Docks, the Public Walkway, and a vehicular access easement to the City pursuant to the terms and conditions of this Agreement, and City desires to accept the conveyance and/or dedication of the same pursuant to the terms and conditions of this Agreement. AGREEMENT NOW, THEREFORE, in consideration of the above recitals and the mutual covenants set forth below, City and Company agree as follows: 1. Recitals Incorporated. The above Recitals are true and correct and are incorporated into this Agreement by this reference. 2. Construction of Public Docks and Public Walkway. Once Company receives all remaining approvals necessary to commence construction of the Balboa Marina West Project, including construction of the Public Walkway and the Public Docks, and once Company elects to proceed with the construction of the Balboa Marina West Project, Company shall construct such improvements in accordance with improvements plans as submitted to and approved by City and pursuant to building permits issued by City. The CDP requires Company, prior to obtaining a certificate of occupancy or its equivalent for the Public Docks, to execute and record the Public Walkway Dedication and the Deed Restriction in forms that have been approved by the Executive Director of the CCC. Due to delay by the CCC in approving the forms of Public Walkway Dedication Easement and Deed Restriction required by Conditions 15 and 17 of the CDP, with no guarantee these forms will be approved by the CCC prior to completion of the private dock portion of the Balboa Marina West Project (the "Private Docks"), City shall not withhold issuance of a permanent or temporary certificate of occupancy or its equivalent for the Private Docks upon completion of the Private Docks on the sole basis that the City might not yet be authorized to issue a certificate of occupancy or its equivalent for the Public Docks. 3. Convey. Company shall convey and/or dedicate to City the Company Property, the Public Docks, the Public Walkway, and a vehicular access easement in accordance with the following terms and conditions: a) Public Walkway. As required by the CDP, after CCC approves the form of Irrevocable Offer to Dedicate a Public Access Easement substantially in the form of Exhibit C attached to this Agreement, subject to any modifications required by the CCC (the "Public Walkway Dedication"), and prior to City issuance of a certificate of occupancy or its equivalent for such Public Docks, Company shall dedicate the easement for the Public Walkway pursuant to the Public Walkway Dedication. Company shall record the Public Walkway Dedication in the Official Records of Orange County, California (the "Official Records"). b) Company Property. Upon Company's completion of the Public Docks as evidenced by City's issuance of a final certificate of occupancy or its equivalent for such Public Docks, and subject to only those conditions or restrictions that are reasonably 78334_2 2 of 7 Conveyance Agreement Balboa Marina West approved by the City, and City's inspection of and acceptance of the improvements, Company shall convey to City the Company Property along with the portion of the Public Docks located therein and attached thereto pursuant to a gift deed in the form of Exhibit D attached to this Agreement (the "Gift Deed"). Company shall deliver the executed Gift Deed to City in recordable form within ten (10) business days after Company's receipt of such certificate of occupancy. c) Vehicular Access and Parking Easement. Concurrent with conveyance of the Gift Deed, Company shall convey to City an easement appurtenant to the Company Property over, across and upon the adjacent portion of Company's property for purpose of vehicular access to and from East Coast Highway and limited non-public parking, pursuant to an access and parking easement agreement in the form of Exhibit E attached to this Agreement (the "Easement"). Company shall deliver the executed Easement to City in recordable form concurrently with the Gift Deed. d) Public Dock portion on Tidelands. Concurrent with conveyance of the Gift Deed, Company shall convey to City the portion of the Public Docks located on the Tidelands, pursuant to a Bill of Sale in the form of Exhibit F attached to this Agreement (the "Bill of Sale"). Company shall deliver two (2) counterpart originals of the executed Bill of Sale to City concurrently with the Gift Deed. 4. Ci , Acceptance and Recordation. Subject to Company's satisfaction of the conditions precedent set forth herein, City shall, within ten (10) business days after City's receipt of the executed Gift Deed, Easement, and Bill of Sale from Company pursuant to Section 3 above: a) Accept or execute, and record Gift Deed and Easement in the Official Records, b) Countersign each counterpart original of the Bill of Sale and deliver one (1) fully -executed original of the Bill of Sale to Company, c) Execute and record an acceptance of the Public Walkway Dedication in the Official Records, which acceptance shall specifically reference the Public Walkway Dedication and which acceptance shall be unconditional, d) Execute the City Lease and deliver it to County, and e) Execute or provide any documentation reasonably required by the Clean Water Act Section 401 Water Quality Standards Certification SARWQCB Project No. 302014-22 permit and Department of the Army Permit No. SPL-2013-00450-GS (collectively "Permits") to notify those agencies of the transfer of the Public Docks. 5. Conditions Precedent to City's Acceptance. City's acceptance of the conveyances and/or dedications as provided herein, shall be subject to the satisfaction or written waiver, in whole or in part, by City of each of the following conditions precedent: a) Certificate of Occupancy. Company has obtained a certificate of occupancy for the Public Docks, which certificate shall be final, and subject to only those conditions or restrictions that are reasonably approved by the City. 78334_2 3 of 7 Conveyance Agreement Balboa Marina West b) Release of Liens. Company has delivered to City a copy of the final release and waiver of liens received by Company (if any) from Company's general contractor and any subcontractors related to the development and construction of the Public Docks. Company is responsible for causing the release of any liens recorded against the Public Docks or Public Walkway to the extent arising out of the construction of such Public Docks or Public Walkway. c) Bonds; Warranties. Company has assigned, or caused to be assigned, on a non-exclusive basis, to City all of Company's bonds (if any), guarantees, and warranties for products, materials, and workmanship. d) As-Builts. Company has delivered to City a copy of the final "as -built" construction documents and specifications for the Public Docks and such other relevant written documentation regarding final inspections, reports and studies in Company's possession relating to the development and construction of the Public Docks. e) Taxes and Assessments. City shall be responsible for any and all general and special real property taxes and supplemental assessments, if any, for the current fiscal year; provided, however, that Company shall pay for (i) any such taxes and assessments applicable to the Public Docks prior to the date of recordation of the Gift Deed, and (ii) any assessments, special taxes or other payments arising from bonds, contracts, or liens created by, through or as a result of the efforts or activities of Company. f) Encumbrances. Unless otherwise approved by City, which approval shall not be unreasonably withheld, delayed or conditioned, no covenants, conditions, restrictions, reservations, rights, rights of way, easements and other matters of record or apparent that have not been previously disclosed to City prior to the date of this Agreement will encumber the Company Property after the date the Company Property is transferred to City. 6. Compan�Representations Regarding the Company Property. Company makes the following representations with respect to Company Property: a) To the best of Company's knowledge, as of the date of this Agreement, (i) Company has not taken any action with respect to the Company Property in violation of any federal or state hazardous waste laws and is not aware of any Company violations of such laws with respect to the Company Property, (ii) Company has not received any written notice currently in effect that a condition on the Company Property violates any federal, state or local law, ordinance or regulation related to environmental conditions on the Property, and (iii) there are no pending or threatened lawsuits or governmental actions specifically involving the condition of the Company Property. Company shall notify City prior to recordation of the Gift Deed if any of the foregoing representations has changed between the Effective Date of this Agreement and the recordation date of the Gift Deed. In the event of such notice by Company to City of a changed representation, and such changed representation would have a material adverse impact on City's use or operation of the Company Property or Public Docks, then City and Company shall cooperate in good faith to resolve such changed representation in a manner reasonably acceptable to Company and City. The words "to the best of Company's knowledge" as used herein shall 78334_2 4 of 7 Conveyance Agreement Balboa Marina West mean the current actual knowledge of Greg Sinks and Dean Kirk, without any duty of inquiry or investigation. b) Company is the lawful owner of the Company Property and the Public Dock Improvements and Company has the right to transfer the same to City, subject to the exceptions and reservations set forth in the Gift Deed. c) There are no written contracts, leases or agreements entered into by or under Company that would be binding on the City with respect to the Company Property or the Public Docks except as heretofore disclosed in writing by Company to City, and/or which City has elected to assume pursuant to the terms of this Agreement. 7. Disputes. In the event of any dispute arising under this Agreement, the damaged Party shall notify the other Party in writing of the damaged Party's contentions by submitting a claim therefor to the other Party by written notice. The damaged Party shall continue performing its obligations hereunder so long as the other Party commences to cure such default within thirty (30) days of service of such notice. Compliance with the provisions of this Section shall be a condition precedent to any legal action, and such compliance shall not be a waiver of either party's right to take legal action in the event that the dispute is not cured). 8. No Attorneys' Fees. In the event of any dispute or legal action arising under or related to this Agreement, the Gift Deed, the Offer of Dedication, or Bill of Sale, the prevailing party shall not be entitled to a judgment against the other for attorneys' fees, or court or other costs incurred. 9. Exhibits. Exhibits A through F, which are attached hereto, are incorporated herein by this reference. 10. Notices. Any notice or communication under this Agreement shall be in writing and served or delivered (a) personally, (b) by reputable overnight courier that provides a receipt with a date and time of delivery, or (c) by prepaid, United States certified mail, return receipt requested, to the address set forth below. Notice shall be deemed given upon (a) personal delivery, (b) the date and time provided in the overnight courier's receipt, or (c) the date specified in the certified mail receipt. If to City: CITY OF NEWPORT BEACH 100 Civic Center Drive Newport Beach, CA 92660 Attention: Harbor Department With a copy to: CITY OF NEWPORT BEACH 100 Civic Center Drive Newport Beach, CA 92660 Attention: City Attorney's Office If to Company: THE IRVINE COMPANY LLC 550 Newport Center Drive Newport Beach, CA 92660 Attention: CRC General Manager 78334_2 5 of 7 Conveyance Agreement Balboa Marina West With a copy to: THE IRVINE COMPANY LLC 550 Newport Center Drive Newport Beach, CA 92660 Attention: General Counsel's Office Either Party may, from time to time by written notice to the other Party, designate a different address that shall be substituted in place of the one specified above. 11. Assignment. City shall not assign its rights and obligations hereunder without the prior written consent of Company, which consent may be withheld by Company in its sole discretion. If Company transfers the Company Property to an affiliated entity prior to completion of the Public Docks, Company may assign its rights and obligations hereunder to such affiliated entity. Except as provided above, this Agreement and the provisions contained herein shall be binding upon and inure to the benefit of City, Company, and their respective successors and assigns. 12. Interpretation. The paragraph headings of this Agreement are for reference and convenience only, are not made part of this Agreement and shall have no effect upon the construction or interpretation of any part hereof. The provisions of this Agreement shall be construed in a reasonable manner to implement the purposes of the Parties and of this Agreement. 13. Severability. Each term, covenant, condition or provision of this Agreement is intended to be severable. If any term, covenant, condition or provision contained in this Agreement is held to be invalid, void or illegal by any court of competent jurisdiction, such provision shall be deemed severable from the remainder of this Agreement and shall in no way affect, impair or invalidate any other term, covenant, condition or provision contained in this Agreement. If such term, covenant, condition or provision shall be deemed invalid due to its scope or breadth, such covenant, condition or other provision shall be deemed valid to the extent of the scope or breadth permitted by law. 14. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, and construed as if drafted jointly by City and Company. 15. Authority. The persons executing this Agreement on behalf of each Party warrant that (a) they are duly authorized to execute this Agreement on behalf of the Party for whom they sign, and (b) by so executing this Agreement, the Party for whom they sign is formally bound to the provisions of this Agreement. 16. Amendment. This Agreement may be amended at any time by the mutual consent of the Parties by a written instrument signed by both Parties. 17. Entire Agreement. This Agreement and the Exhibits attached hereto, and the CDP, represent the entire understanding of City and Company as to the matters contained herein, and no prior oral or written understanding shall be of any force or effect with respect to the matters covered in this Agreement. [Signature Page Follows] 78334_2 6 of 7 Conveyance Agreement Balboa Marina West [Signature Page to Conveyance Agreement] IN WITNESS WHEREOF, City and Company have caused this Agreement to be executed by their respective duly authorized officers and representatives as of the date first set forth above. CITY OF NEWPORT BEACH, THE IRVINE COMPANY LLC, a California municipal corporation a Delaware limited liability company By: By: We K. Leung ity Manager ATTEST: IIn Leilani I. 1 City Clerk By: ��W F ' F U APPROVED S TO FORM: '%�_°F09 By: -lc_ on /8 Z3 ity Attorney Signed in Counterpart Roger Ploum Division President Corporate Business Properties Signed in Counterpart Justin Kim Vice President Finance & Administration Exhibit A-1 -Legal Description of Company Property Exhibit A-2 - Depiction of Company Property Exhibit B-1 - Legal Description of Leased Property Exhibit B-2 - Depiction of Leased Property Exhibit C - Form of Irrevocable Offer to Dedicate a Public Access Easement Exhibit D - Form of Gift Deed Exhibit E - Form of Easement Exhibit F - Form of Bill of Sale 78334_2 7 of 7 Conveyance Agreement Balboa Marina West [Signature Page to Conveyance Agreement] IN WITNESS WHEREOF, City and Company have caused this Agreement to be executed by their respective duly authorized officers and representatives as of the date first set forth above. CITY OF NEWPORT BEACH, a California municipal corporation Grace K. Leung City Manager ATTEST: IN Leilani I. Brown City Clerk APPROVED S TO FORM: By: �iilon ty At orney THE IRVINE COMPANY LLC, a Delaware limited liability company rJ By: Roger P Divi-sion President Corporate Business Properties By: Just Kim Vice President Finance & Administration Exhibit A -I -Legal Description of Company Property Exhibit A-2 - Depiction of Company Property Exhibit B-I - Legal Description of Leased Property Exhibit B-2 - Depiction of Leased Property Exhibit C - Form of Irrevocable Offer to Dedicate a Public Access Easement Exhibit D - Form of Gift Deed Exhibit E - Form of Easement Exhibit F - Form of Bill of Sale 78334_2 7 of 7 Conveyance Agreement Balboa Marina West Exhibit A-1 Legal Description of Company Property (see attached) 78334_2 EXHIBIT ""A-1" LEGAL DESCRIPTION CITY TIDELAND DEDICATION THAT PORTION OF PARCEL 1 OF PARCEL MAP NO. 93-206, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, PER MAP FILED IN BOOK 289, PAGES 1 THROUGH 7, INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: CObZdENCING AT THE SOUTHERLY TERMINUS OF THAT CERTAIN COURSE HAVING A BEARING AND DISTANCE OF "NORTH 0104546" WEST, 100.00 FEET" IN A WESTERLY LINE OF SAID PARCEL 1; THENCE, ALONG A NORTHERLY LINE OF SAID PARCEL 1, SOUTH 88°13'14" WEST, 102.92 FEET TO THE POINT OF BEGINNING; THENCE, CONTINUING ALONG SAID NORTHERLY LINE OF PARCEL 1, SOUTH 88013'14" WEST, 44.30 FEET TO THE MOST WESTERLY NORTHWESTERLY CORNER OF SAID PARCEL 1; THENCE, ALONG THE NORTHWESTERLY LINE OF SAID PARCEL 1, SOUTH 25050'43" WEST, 69.00 FEET; THENCE, TRAVERSING THE INTERIOR OF SAID PARCEL 1, THE FOLLOWING COURSES: LEAVING SAID NORTHWESTERLY LINE OF PARCEL 1, SOUTH 64009'17" EAST, 31.07 FEET; SOUTH 26010'09" EAST, 39.21 FEET; NORTH 63049'51" EAST, 20.00 FEET; NORTH 26010'09" WEST, 18.00 FEET; NORTH 01046'46" WEST, 74.60 FEET; NORTH 88013'14" EAST, 21.80 FEET TO A LINE PERPENDICULAR TO SAID NORTHERLY LINE OF PARCEL 1 AND RUNNING THROUGH SAID POINT OF BEGINNING; ALONG SAID PERPENDICULAR LINE, NORTH 01046'46" WEST, 12.00 FEET TO THE POINT OF BEGINNING. CONTAINING 3923 SQUARE FEET, MORE OR LESS. U:\2042431240\geomatics\legals\City Tideland Dedication_20230414.doc 1 OF 2 EXHIBIT ""A-1" LEGAL DESCRIPTION CITY TIDELAND DEDICATION ALSO AS SHOWN ON EXHIBIT "A-2" ATTACHED HERETO AND HEREBY MADE A PART HEREOF. SUBJECT TO COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS, AND RIGHTS —OF —WAY OF RECORD, IF ANY. *� No.6088 )z PREPARED BY: STANTEC CONSULTING UNDER THE DIRECTION OF: JAMES 0. STEINES, P.L.S. 6086 APRIL 14, 2023 J.N. 2042 431240 U:\2042431240\geomatics\legals\City Tideland Dedication_20230414.doc 2 OF 2 Exhibit A-2 Depiction of Company Property (see attached) 783342 Q z Of U LL. rn O 00 N Lv H CO � U) �(D O _ N co Z `< U Q °'o W o� zz m 0-o 0 . p_ U g I 2 LL. = w X �i ~ W J m W � U Qo U C� �w Oz z LL. O O H n U Q Li 1- Z 3 z A. co W z��o0000 ONOO(DaOO V) �)r7ON-I- W J m W W W W z r Q� '— O) (D (D W Z O (U O:t r 7t zE 000)O(Dr,)c0 J W 4 (D M CD - 00 m W N (D N O 00 O (/)UZZZZZ Cj J J J J J Z J J �N�bti Nbtij� b8 (fl 00 O (D W vi w z w V) O V) LLI Q 0 O W J Q U U) O I O N �I J Exhibit B-1 Leaa1 Description of Leased Property (see attached) 78334_2 EXHIBIT B-1 LEGAL DESCRIPTION Project: Lower Newport Bay Tideland Leases Facility No.: HA55D Parcel No.: 452 That portion of the tide and submerged lands of Newport Bay, in the City of Newport Beach, County of Orange, State of California, described in the decree of the Superior Court of the State of California, in and for the County of Orange, in Case No. 20436, recorded May 6, 1926 in Book 651, Page 72 of Deeds, in the office of the County Recorder of said county, described as follows: Beginning at the northwest corner of Lot A of Tract No. 5361, filed in Book 190, Pages 47 and 48 of Miscellaneous Maps, in said County Recorder's Office, said corner also being a point on that certain line shown as the "Line of Mean High Tide" on said map; thence South 24°56'00" West, 66.03 feet along the northwesterly line of said Lot A and said Line of Mean High Tide; thence leaving said line, South 87018'31" West, 61.50 feet to a line shown as the "U.S. Pierhead Line" on said map; thence North 24°56'00" East, 66.03 feet along said U.S. Pierhead Line to the westerly prolongation of the northerly line of said Lot A; thence North 87018'31" East, 61.50 feet along said westerly prolongation to the POINT OF BEGINNING. Containing 3,598 Square Feet, more or less. See EXHIBIT B-2 attached and by reference made a part. APPROVED Kevin Hills, County Surveyor, L.S. 6617 By: Raymond J. Rivera, L.S. 8324 LA ND J/ Date: NO. 8324 )* 9 QF CA Page 1 of 1 Exhibit B-2 Depiction of Leased Property (see attached) 78334_2 0 "T N Q Cl) r co ~O �— W O J O F� r Z > J e- W o `O Q � W W Z co w � LLIZ co F- m It w �� �I W W 103.00' w N Q Mrl� LO <- W O� I J +' J Q OM LO O iCi r' N N - ap Q O O11) M O Lf) N d I Q p II _ m G M 06� �z w o w CV J m J Q Q O � Q J r 4 CD J (� F- CO I Q Cl) C) O CY)L c0 Z O m Q OD c O `z m ��� O r Z 103.00, I (n W o- } a JO� J Y v Z Q 1= o = W W r N z I J 3 00 �' H 67 LO � N m AGE bf U) a jj tg' J ��O G� U T "� a� w D Q � a> > a O M °— �-+ O °" v� Q ) \ —� c� r 00 o •- � 0 ~ z° a) ® �® o o J L1 � 00 07 In O O r Cfl Ln .-- lI) p CD lf') O CO LC') r w J w w � Z� M� O M O O M O M w � � c0 00 co c0 0� co a0 z W r r Lf'7 l('i � � a0 I� co � ti � � � � � J m O M O N� N N o0 N aO cn COcn Z Z Z cn C� COC� Z Z w Z J J J J J J J J J J J Exhibit C Form of Irrevocable Offer to Dedicate a Public Access Easement [attached hereto] 78334_2 Recording Requested By: The Irvine Company LLC 550 Newport Center Drive Newport Beach, CA 92660 When Recorded, Return To: The Irvine Company LLC 550 Newport Center Drive Newport Beach, CA 92660 (Space above this line for Recorder's use only) IRREVOCABLE OFFER TO DEDICATE A PUBLIC ACCESS EASEMENT (201 E. Coast Highway, Newport Beach, California) THIS IRREVOCABLE OFFER TO DEDICATE A PUBLIC ACCESS EASEMENT (this "Offer") is made as of , 202 by THE IRVINE COMPANY LLC, a Delaware limited liability company ("Owner"), with reference to the following facts: A. Owner owns the fee simple estate in that certain real property in Orange County, California that is more particularly described on the attached Exhibit A (the "Property"). B. In connection with Owner's application for a development permit for the Property (Coastal Development Permit No. 5-15-0087), and as a condition precedent to the issuance of such permit, Owner is being required to execute and record this Offer. NOW, THEREFORE: 1. Offer to Dedicate; Revocation. Owner hereby offers to dedicate the easement described below. Such offer shall be irrevocable for a period of twenty-one (21) years from the date this Offer is recorded. If such offer is not validly accepted prior to such date, Owner may revoke this offer by recording a revocation in the official records of Orange County, California, which revocation shall specifically reference this Offer. 2. Acceptance of Offer. Owner's offer to dedicate the easement described below may be accepted, at any time before it is revoked, by a public agency or private entity approved by the Executive Director of the California Coastal Commission, by recording an acceptance in the official records of Orange County, California, which acceptance shall specifically reference this Offer and which acceptance shall be unconditional. 3. Establishment of Easement. Upon valid acceptance per Section 2 above, Owner grants to the State of California a perpetual, non-exclusive easement over that portion of the Property that is more particularly described on the attached Exhibit B and which is generally depicted on the attached Exhibit C (the "Easement Area") for the following purpose: public access and recreational purposes. 75030_2 Page I of 4 4. Rights Reserved; Restrictions on Development. Owner reserves all other rights and uses with respect to the Easement Area. In addition, Owner shall at all times have the rights (i) to use the Easement Area in any way that does not unreasonably impair the use of the Easement Area for the permitted purpose, and (ii) to grant non-exclusive rights on, over, under, upon, and through, the Easement Area so long as such rights do not unreasonably impair the use of the Easement Area for the permitted purpose. However, no development, as defined in section 30106 of the California Coastal Act, shall occur within the Easement Area, except for development authorized by a valid Coastal Development Permit (it being acknowledged that Coastal Development Permit No. 5-15-0087 authorizes construction of the public accessway, including paving hardscape, landscape, utilities, public access amenities, and signage as necessary). 5. Benefit and Burden. This Offer shall run with and burden the Easement Area. All obligations, terms, conditions, and restrictions imposed by this Offer shall be deemed covenants and restrictions running with the land, and shall bind and benefit Owner (as the fee owner of the Easement Area) and all its successors and assigns. This Offer shall benefit the People of the State of California. 6. Effective Date. This Offer shall become effective on the date it is recorded in the Office of the County Recorder of Orange County, California (the "Effective Date"). (Signature page follows) 75030_2 Page 2 of 4 above. IN WITNESS WHEREOF, Owner has executed this Offer as of the date first set forth THE IRVINE COMPANY LLC, a Delaware limited liability company By:_ Name: Title: By:_ Name: Title: 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 the document. 611 FEN 1x6»[y."I01To] 0Ell ) ss. COUNTY OF On , before me, , a Notary Public, personally appeared , 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. Notary Public 75030_2 Page 3 of 4 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 the document. STATE OF CALIFORNIA ) ss. COUNTY OF ) On , before me, , a Notary Public, personally appeared , 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. Notary Public 75030_2 Page 4 of 4 FXHIRIT A LEGAL DESCRIPTION OF PROPERTY The Property referred to herein below is situated in the City of Newport Beach, County of Orange, State of California, and is described as follows: PARCELS 1, 2 AND 3 OF PARCEL MAP NO. 93-206, IN THE NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 289, PAGES 1 THROUGH 73 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. APN: 440-132-39; 050-451-03; 050-451-60 75030_2 Exhibit A EXHIBIT ""B" LEGAL DESCRIPTION EASEMENT AREA THOSE PORTIONS OF PARCELS 1, 2 AND 3 OF PARCEL MAP NO. 93-206, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, PER MAP FILED IN BOOK 289, PAGES 1 THROUGH 7, INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, LYING WITHIN A STRIP OF LAND 8.00 FEET WIDE, THE CENTERLINE OF WHICH IS DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY TERMINUS OF THAT CERTAIN COURSE HAVING A BEARING AND DISTANCE OF "NORTH 0104546" WEST, 100.00 FEET" IN A WESTERLY LINE OF SAID PARCEL 1; THENCE, ALONG A NORTHERLY LINE OF SAID PARCEL 1, SOUTH 88°13'14" WEST, 100.02 FEET; THENCE, LEAVING SAID NORTHERLY LINE OF PARCEL 3, SOUTH 01°46'46" EAST, 7.72 FEET TO THE POINT OF BEGINNING; THENCE, TRAVERSING THE INTERIOR OF SAID PARCELS 1, 2 AND 3, THE FOLLOWING COURSES: NORTH 86036'07" EAST, 88.41 FEET; NORTH 88013'14" EAST, 257.85 FEET TO THE BEGINNING ON A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 17.00 FEET; EASTERLY 10.72 FEET ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 36007'44" TO THE BEGINNING OF A REVERSE CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 9.00 FEET AND TO WHICH A RADIAL LINE BEARS NORTH 37054'30" WEST; EASTERLY 5.68 FEET ALONG SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF 36007'44"; NORTH 88013'14" EAST, 88.72 FEET TO THE BEGINNING ON A CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 9.00 FEET; EASTERLY 5.68 FEET ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 36007'44" TO THE BEGINNING OF A REVERSE CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 17.00 FEET AND TO WHICH A RADIAL LINE BEARS SOUTH 34020'58" WEST; EASTERLY 10.72 FEET ALONG SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF 36007'44"; NORTH 88013'14" EAST, 75.52 FEET TO THE BEGINNING ON A CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 64.00 FEET; V:\2042\active\2042431200\survey\legals\Public Access Esmt_20220503.doc 1 OF 2 EXHIBIT ""B" LEGAL DESCRIPTION EASEMENT AREA EASTERLY 18.68 FEET ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 16043'30" TO THE BEGINNING OF A REVERSE CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 1082.75 FEET AND TO WHICH A RADIAL LINE BEARS SOUTH 14056'44" WEST; EASTERLY 33.89 FEET ALONG SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF 01047'37" TO THE BEGINNING OF A REVERSE CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 94.00 FEET AND TO WHICH A RADIAL LINE BEARS NORTH 13°09'07" EAST; EASTERLY 22.28 FEET ALONG SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF 13034'51" TO THE BEGINNING OF A REVERSE CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 94.00 FEET AND TO WHICH A RADIAL LINE BEARS SOUTH 26043'58" WEST; EASTERLY 46.78 FEET ALONG SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF 28030'44"; NORTH 88013'14" EAST, 28.60 FEET; NORTH 30016'58" WEST, 4.76 FEET TO THE NORTHERLY BOUNDARY OF SAID PARCEL 3. THE SIDELINES OF SAID STRIP SHALL BE LENGHTENED OR SHORTENED TO END AT SAID NORTHERLY BOUNDARY OF PARCEL 3. ALSO AS SHOWN ON EXHIBIT "C" ATTACHED HERETO AND HEREBY MADE A PART HEREOF. SUBJECT TO COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS, AND RIGHTS —OF —WAY OF RECORD, IF ANY. PREPARED BY: STANTEC CONSULTING UNDER THE DIRECTION OF: ') Gi" o- S-t"- JAMES 0. STEINES, P.L.S. 6086 MAY 3, 2022 J.N. 2042 431240 V:\2042\active\2042431200\survey\legals\Public Access Esmt_20220503.doc 2 OF 2 w N O �'10OR �c b/ -J ELLJ \ �J �g tid U o u a-)w 3� o a Q Lij U o V> �Oco Lid �6 MI6 ono 00Ick� m =-� � �Ir 4J U 1 N N 00 .o \ wZ� 11 'co, Vi co o h / U—�J mQ O Ui a / V w� Q J Z �U I 00 o �' 8 ��� 0IQ pin Q ��'1 I Q � � I ��� o N W M II II IIIII �IIII I IIII>I� IJ r" U NE��bbyyIm �yoMoz wmJU Jz Exhibit D Form of Gift Deed [attached hereto] 78334_2 RECORDING REQUESTED BY AND WHEN RECORDED, MAIL TO: City Clerk City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 WITH A CONFORMED COPY TO: The Irvine Company LLC 550 Newport Center Drive Newport Beach, CA 92660 Attn: General Counsel's Office SPACE ABOVE THIS LINE FOR RECORDER'S USE Parcel No. 050-451-01 THE UNDERSIGNED GRANTOR DECLARES: This document is recorded at the request of and for the benefit of the City of Newport Beach, and therefore is exempt from the payment of a recording fee pursuant to California Government Code§§ 6103 and 27383 and from payment of documentary transfer tax pursuant to California Revenue and Taxation Code § 11922. GIFT DEED FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, THE IRVINE COMPANY LLC, a Delaware limited liability company ("Grantor"), hereby GIFTS in fee simple interest ("Gifts" or "Deeds") to the CITY OF NEWPORT BEACH, a California municipal corporation and charter city (hereinafter referred to as "City"), the portion of property located at 201 East Coast Highway, Newport Beach, California as more particularly described in Exhibit "A" and depicted in Exhibit `B" which are attached hereto and incorporated herein by this reference (the "Property"). The Property shall include the new public dock improvements constructed by Grantor (the "Public Dock Improvements"). Grantor and City are sometimes hereinafter referred to collectively as the "Parties". THE PROPERTY IS CONVEYED TO CITY SUBJECT TO THE FOLLOWING: 1. CONDITION OF TITLE. The Property shall be transferred to and accepted by City subject to the following: (a) General and special real property taxes and supplemental assessments, if any, for the current fiscal year; provided, however, that Grantor shall pay for (i) any such taxes and assessments applicable to the Property prior to the date of recordation of this Gift Deed, and (ii) any assessments, special taxes or other payments arising from bonds, contracts, or liens created by, through or as a result of the efforts or activities of Grantor. 78356_2 1 Gift Deed Property Adjacent to Balboa Marina (b) All covenants, conditions, restrictions, reservations, rights, rights of way, easements and other matters of record or apparent other than monetary liens created by Company, including, without limitation, usual and customary exceptions to title insurance consistent with ALTA policies with Regional Exceptions (Standard Coverage) issued by First American Title Insurance Company in Orange County, California, as identified on the Commitment for Title Insurance under File No. NCS-1144568-SA1 last revised on , 2023 attached hereto as Exhibit "C", and that certain Deed Restriction in favor of the California Coastal Commission dated , and recorded in the Official Records of Orange County, California on as Instrument No. 2. RESERVATIONS. The Property shall be accepted by City subject to the following reservations in favor of Grantor, its successors and assigns, together with the right (without the consent of City or any other owner of an interest in the Property) to grant, transfer, license or otherwise convey all or a portion of the same to one or more grantees, transferees or licensees: (a) A reservation of any and all oil, oil rights, minerals, mineral rights, natural gas rights and other hydrocarbons by whatsoever name known, geothermal steam and all products derived from any of the foregoing, that may be within or under the Property, together with the perpetual right of drilling, mining, exploring and operating therefor and storing in and removing the same from the Property or any other land, including the right to whipstock or directionally drill or mine from lands other than the Property, oil or gas wells, tunnels and shafts into, through or across the subsurface of the Property and to bottom such whipstocked or directionally drilled wells, tunnels and shafts under and beneath or beyond the exterior limits hereof, and to re -drill, re -tunnel, equip, maintain, repair, deepen and operate any such wells or mines; but without, however, the right to drill, mine store, explore or operate through the surface or the upper 500 feet of the subsurface of the Property. (b) A reservation of permanent nonexclusive easements appurtenant to adjacent slopes, whether owned by Grantor or a third party, on, over, under and across the Property, for access to and from such slopes as reasonably necessary to perform dredging, repair and maintenance thereof in connection with the use and operation of property adjacent to the Property; provided, however, that (i) the exercise of such rights shall not unreasonably interfere with City's reasonable use and enjoyment of the Property, and (ii) any party that enters the Property in the exercise of the easements reserved herein shall (A) use reasonable efforts to minimize damage to any improvements affected by such entry, (B) promptly repair and restore at its cost any damage caused by such entry, as nearly as practicable, to the condition which existed prior to such entry, and (C) defend, indemnify, protect and hold harmless City, its City Council, boards, commissions, officers, agents, and employees ("Indemnitees") from all losses, claims, liens, suits, costs, damages, expenses (including actual attorneys' fees), liabilities and actions of any name, kind or description ("Claim" or "Claims"), whether incurred by or made against any Indemnitee or made by any third party, arising out of or related to injuries to or death of any person or damage to any property resulting from or caused by use of the easement (as well as any activity related to or connected with said use) by Grantor, its employees, contractors, and agents. Grantor's indemnity obligation shall not extend to any Claim arising from the sole negligence or willful misconduct of the Indemnitees. This indemnity obligation shall apply to all claims and liability regardless of whether any insurance policies are applicable and the policy limits of any such insurance policies shall not act as a limitation upon the amount of indemnification to be provided. 78356_2 2 Gift Deed Property Adjacent to Balboa Marina (c) A reservation of permanent nonexclusive easements appurtenant to adjacent slopes, whether owned by Grantor or a third parry, on, over, under and across the Property, for storm water draining naturally from such slopes. (d) A reservation of permanent nonexclusive easements on, over, under and across the Property, to access adjacent dock facilities of Grantor and its successors, and to install, use, maintain, repair and replace utility facilities, lighting and signs serving such adjacent dock facilities and the access thereto; provided, however, that (i) the design, installation, and construction of the utility facilities, lighting and signs shall be subject to the review, approval, and applicable permits of the City, (ii) the exercise of such rights shall not unreasonably interfere with City's reasonable use and enjoyment of the Property, and (iii) any party that enters the Property in the exercise of the easements reserved herein shall (A) use reasonable efforts to minimize damage to any improvements affected by such entry, (B) promptly repair and restore at its cost any damage caused by such entry, as nearly as practicable, to the condition which existed prior to such entry, and (C) defend, indemnify, protect and hold harmless Indemnitees from all Claims, whether incurred by or made against any Indemnitee or made by any third party, arising out of or related to injuries to or death of any person or damage to any property resulting from or caused by use of the easement (as well as any activity related to or connected with said use) by Grantor, its employees, contractors, and agents. Grantor's indemnity obligation shall not extend to any Claim arising from the sole negligence or willful misconduct of the Indemnitees. This indemnity obligation shall apply to all claims and liability regardless of whether any insurance policies are applicable and the policy limits of any such insurance policies shall not act as a limitation upon the amount of indemnification to be provided. (e) A reservation of a temporary, non-exclusive easement on, over, under and across the Property, to perform any post -construction monitoring or mitigation requirements of the Permits, as defined below; provided, however, that (i) the exercise of such rights shall not unreasonably interfere with City's reasonable use and enjoyment of the Property, and (ii) any party that enters the Property in the exercise of the easements reserved herein shall (A) use reasonable efforts to minimize damage to any improvements affected by such entry, (B) promptly repair and restore at its cost any damage caused by such entry, as nearly as practicable, to the condition which existed prior to such entry, and (C) defend, indemnify, protect and hold harmless Indemnitees from all Claims, whether incurred by or made against any Indemnitee or made by any third party, arising out of or related to injuries to or death of any person or damage to any property resulting from or caused by use of the easement (as well as any activity related to or connected with said use) by Grantor, its employees, contractors, and agents. Grantor's indemnity obligation shall not extend to any Claim arising from the sole negligence or willful misconduct of the Indemnitees. This indemnity obligation shall apply to all claims and liability regardless of whether any insurance policies are applicable and the policy limits of any such insurance policies shall not act as a limitation upon the amount of indemnification to be provided. 3. COVENANTS. The Property shall be accepted by City subject to the following covenants (the "Covenants"): (a) The Property may only be used solely for purposes of either open space or a boat berthing facility for free, public, transient use in compliance with all applicable requirements of Coastal Development Permit No. 5-15-0087 (most recently amended on April 12, 2023 CDP 78356_2 3 Gift Deed Property Adjacent to Balboa Marina No. 5-15-0087-A1), Clean Water Act Section 401 Water Quality Standards Certification SARWQCB Project No. 302014-22 (most recently amended October 6, 2016), and Department of the Army Permit No. SPL-2013-00450-GS (most recently amended September 1, 2022), each as may be further amended (collectively the "Permits"); (b) City shall not permit the Property to be used for storage, fishing, overnight berthing or holding tank pump out purposes; (c) Grantor will have the right to review and comment on future improvement plans and signage for the Property; (d) City will not require Grantor to provide, directly or indirectly, parking related to public use of the Property; (e) City will maintain the Property in a safe and attractive condition; and (f) City will not abandon the Property nor transfer it or any portion of it to a third party without Grantor's prior written consent, which consent will not be withheld if the transfer is to another public entity for uses in compliance with these Covenants. 4. MATTERS RELATED TO COVENANTS. (a) Amendment. The Covenants may be amended by mutual agreement of Grantor and City. Any amendment must be recorded in the recorder's Office, County of Orange, California. (b) Term. The Covenants shall run with and bind the Property and shall inure to the benefit of and be enforceable by Grantor, its successors and assigns, in perpetuity, unless Grantor records a declaration terminating the Covenants. (c) Default and Remedies. In the event of any breach, violation or failure to comply with any of the Covenants which has not been cured within thirty (30) days after written notice from Grantor to do so (or if any such breach, violation or failure cannot be fully cured within such thirty (30) day period, then upon failure of City to commence such cure to Grantor's reasonable satisfaction), then Grantor in its sole and absolute discretion may enforce any other rights or remedies to which Grantor may be entitled by law or equity, other than the remedy of damages. It is recognized that a violation by City of one or more of the Covenants may cause Grantor to suffer material injury or damage not compensable in money and that Grantor shall be entitled to bring an action in equity or otherwise for specific performance to enforce compliance with the Covenants or an injunction to enjoin the continuance of any such breach or violation thereof. (d) Waiver. No waiver by Grantor of a breach of any of the Covenants and no delay or failure to enforce any of the Covenants shall be construed or held to be a waiver of any succeeding or preceding breach of the same or any other restrictions or conditions. No waiver of any breach or failure of any of the Covenants shall be implied from any omission by Grantor to take any action on account of such breach of failure if such breach or failure persists or is repeated, and no express waiver shall affect a breach or failure other than as specified in said waiver. The consent or approval by Grantor to or of any act by City requiring Grantor's consent or approval 78356_2 4 Gift Deed Property Adjacent to Balboa Marina shall not be deemed to waive or render unnecessary Grantor's consent or approval to or of any subsequent similar acts by City. (e) Cost of Enforcement. In the event any declaratory or other legal or equitable action or proceeding shall be instituted between Grantor and City to enforce any provisions of these Covenants, the party prevailing in such action shall be entitled to recover from the losing party or parties its costs and expenses, including court costs and reasonable attorneys' fees. 5. MISCELLANEOUS. (a) Effect of Acceptance. Acceptance by City of this Gift Deed shall constitute City's agreement to be bound by all of the terms, conditions, restrictions, exclusions and reservations included in this Gift Deed. (b) Captions. The captions used herein are for convenience only and are not a part of this instrument and do not in any way limit or amplify the scope of interest of the terms and provisions hereof. (c) Binding Effect. Except as otherwise provided herein, all terms, conditions, restrictions, exclusions and reservations of this Gift Deed, and the acquisition of all or any portion of the Property by acceptance thereof, shall be binding upon and inure to the benefit of City's successors and assigns. (d) Application to Grantor. Notwithstanding anything herein contained to the contrary, if Grantor reacquires title to the Property or any portion thereof, the Covenants herein shall automatically cease and terminate as to such reacquired property and be of no further force or effect as to Grantor or such Successor. The term "Grantor" shall also mean and include any "Successor" of Grantor, which term is used in this Gift Deed to mean and refer to: (i) any person or entity which acquires ten percent (10%) or more of the assets of Grantor; (ii) any division, subsidiary, group, operating Grantor or wholly -owned entity of Grantor; (iii) any Real Estate Investment Trust or other entity formed by or through the efforts of Grantor; (iv) any entity resulting from a merger with or an acquisition by or of Grantor; and (v) any person or entity owning the majority of stock or other ownership interest in either Grantor or any entity described in (i) through (iv). [signatures on following page) 78356_2 5 Gift Deed Property Adjacent to Balboa Marina IN WITNESS WHEREOF, the undersigned has executed this Gift Deed as of the date set forth below. This Gift Deed shall not be effective for any purpose unless and until the Acceptance below has been duly executed by City. Date: GRANTOR THE IRVINE COMPANY LLC, a Delaware limited liability company wa 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 ORANGE On , 20_, before me, , a Notary Public, personally appeared , 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. Notary Public (SEAL) 78356_2 ( Gift Deed Property Adjacent to Balboa Marina ACCEPTANCE I, Grace K. Leung, City Manager of the City of Newport Beach, a California municipal corporation and charter city, hereby accept on behalf of the City of Newport Beach the fee simple interest in a portion of property located at 201 E. Coast Highway, Newport Beach, California conveyed by The Irvine Company, LLC, a Delaware limited liability company, by the Gift Deed dated , 20 and consent to the recordation of the Gift Deed and this Acceptance pursuant to authority conferred by Resolution No. 1992-82 of the City Council of the City of Newport Beach adopted July 27, 1992. APPROVED AS TO FORM: Date: By: Aaron C. Harp City Attorney CITY OF NEWPORT BEACH, A California municipal corporation Date: By: Grace K. Leung City Manager ATTEST: Date: By: Leilani I. Brown City Clerk 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 ORANGE On 20_, before me, , a Notary Public, personally appeared 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. Notary Public (SEAL) 78356_2 7 Gift Deed Property Adjacent to Balboa Marina LEGAL DESCRIPTION OF PROPERTY [see attached] 78356_2 Exhibit "A" Exhibit "A" to Gift Deed Property Adjacent to Balboa Marina EXHIBIT ""A" LEGAL DESCRIPTION CITY TIDELAND DEDICATION THAT PORTION OF PARCEL 1 OF PARCEL MAP NO. 93-206, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, PER MAP FILED IN BOOK 289, PAGES 1 THROUGH 7, INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY TERMINUS OF THAT CERTAIN COURSE HAVING A BEARING AND DISTANCE OF "NORTH 01045'46" WEST, 100.00 FEET" IN A WESTERLY LINE OF SAID PARCEL 1; THENCE, ALONG A NORTHERLY LINE OF SAID PARCEL 1, SOUTH 88°13'14" WEST, 102.92 FEET TO THE POINT OF BEGINNING; THENCE, CONTINUING ALONG SAID NORTHERLY LINE OF PARCEL 1, SOUTH 88013'14" WEST, 44.30 FEET TO THE MOST WESTERLY NORTHWESTERLY CORNER OF SAID PARCEL 1; THENCE, ALONG THE NORTHWESTERLY LINE OF SAID PARCEL 1, SOUTH 25050'43" WEST, 69.00 FEET; THENCE, TRAVERSING THE INTERIOR OF SAID PARCEL 1, THE FOLLOWING COURSES: LEAVING SAID NORTHWESTERLY LINE OF PARCEL 1, SOUTH 64009'17" EAST, 31.07 FEET; SOUTH 26010'09" EAST, 39.21 FEET; NORTH 63049'51" EAST, 20.00 FEET; NORTH 26010'09" WEST, 18.00 FEET; NORTH 01046'46" WEST, 74.60 FEET; NORTH 88013'14" EAST, 21.80 FEET TO A LINE PERPENDICULAR TO SAID NORTHERLY LINE OF PARCEL 1 AND RUNNING THROUGH SAID POINT OF BEGINNING; ALONG SAID PERPENDICULAR LINE, NORTH 01°46'46" WEST, 12.00 FEET TO THE POINT OF BEGINNING. CONTAINING 3923 SQUARE FEET, MORE OR LESS. U:\2042431240\geomatics\legals\City Tideland Dedication_20230414.doc 1 OF 2 EXHIBIT "A" LEGAL DESCRIPTION CITY TIDELAND DEDICATION ALSO AS SHOWN ON EXHIBIT "B" ATTACHED HERETO AND HEREBY MADE A PART HEREOF. SUBJECT TO COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS, AND RIGHTS —OF —WAY OF RECORD, IF ANY. PREPARED BY: STANTEC CONSULTING �r1Pt-L4Np UNDER THE DIRECTION OF: O. STF SG9 ° No.6086 JAMES 0. STEINES, P.L.S. 6086 '9T �OFCAUF APRIL 14, 2023 J.N. 2042 431240 U:A2042431240\geomatics\legals\City Tideland Dedication_20230414.doc 2 OF 2 DEPICTION OF PROPERTY [see attached] 78356_2 Exhibit "B" Exlribit „B„ to Gift Deed Property Adjacent to Balboa Marina W M O N 0 � U \ W J N LLJ> P �o 0 li 0 <CD d � CD w A _ ��o c zu- o V� ujza N I� 00 > v C7 P It N CN � of 04 K/ O r0 O Q z N a � W � U M 00 C) rn o Q � m a Nw O m Z Lj co z C� w N � Q o U o w r" ) LL- Q N01°45'46"W �� O Z � M 100.00' � m �o Z ci a' cv No N LL = w d r7 r co X Llco Wco Jm r ui U ~ r N > J Of 0 (\/ z oZ w� W 3 O O � �O w 6� 9� Mi Z o 41 Z �I W Q Z � z 0 o N M Z i — m a, �N�by d 3 0 d�H II o O v < IDLil N J (Z.1 U a' U CD N C) O N W � ��00000 Qz ONOOCD o00 �rn000� �N W TITLE COMMITMENT FOR PROPERTY [see attached] 78356_2 Exhibit "C" Exbibit °c° to Gift Deed Property Adjacent to Balboa Marina _ ALTA Commitment for Title Insurance First American ISSUED BY Commitment First American Title Insurance Company File No: NCS-1144568-SA1 COMMITMENT FOR TITLE INSURANCE Issued By FIRST AMERICAN TITLE INSURANCE COMPANY NOTICE IMPORTANT -READ CAREFULLY: THIS COMMITMENT IS AN OFFER TO ISSUE ONE OR MORE TITLE INSURANCE POLICIES. ALL CLAIMS OR REMEDIES SOUGHT AGAINST THE COMPANY INVOLVING THE CONTENT OF THIS COMMITMENT OR THE POLICY MUST BE BASED SOLELY IN CONTRACT. THIS COMMITMENT IS NOT AN ABSTRACT OF TITLE, REPORT OF THE CONDITION OF TITLE, LEGAL OPINION, OPINION OF TITLE, OR OTHER REPRESENTATION OF THE STATUS OF TITLE. THE PROCEDURES USED BY THE COMPANY TO DETERMINE INSURABILITY OF THE TITLE, INCLUDING ANY SEARCH AND EXAMINATION, ARE PROPRIETARY TO THE COMPANY, WERE PERFORMED SOLELY FOR THE BENEFIT OF THE COMPANY, AND CREATE NO EXTRACONTRACTUAL LIABILITY TO ANY PERSON, INCLUDING A PROPOSED INSURED. THE COMPANY'S OBLIGATION UNDER THIS COMMITMENT IS TO ISSUE A POLICY TO A PROPOSED INSURED IDENTIFIED IN SCHEDULE A IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS COMMITMENT. THE COMPANY HAS NO LIABILITY OR OBLIGATION INVOLVING THE CONTENT OF THIS COMMITMENT TO ANY OTHER PERSON. COMMITMENT TO ISSUE POLICY Subject to the Notice; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions; and the Commitment Conditions, FirstAmerican Title Insurance Company, a Nebraska Corporation (the "Company"), commits to issue the Policy according to the terms and provisions of this Commitment. This Commitment is effective as of the Commitment Date shown in Schedule A for each Policy described in Schedule A, only when the Company has entered in Schedule A both the specified dollar amount as the Proposed Policy Amount and the name of the Proposed Insured. If all of the Schedule B, Part I -Requirements have not been met within six months after the Commitment Date, this Commitment terminates and the Company's liability and obligation end. FIRST AMERICAN TITLE INSURANCE COMPANY By: iz Kenneth D. DeCiorgio, President By. Lisa W. Cornehl, Secretary If this jacket was created electronically, it constitutes an original document. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice,• the Commitment to Issue Policy; the Commitment Conditions,- Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Frm50003700 (8-23-18) Page 1 of 13 ALTA Commitment for Title Insurance (8-1-16) California COMMITMENT CONDITIONS 1. DEFINITIONS (a) "Knowledge" or "Known": Actual or imputed knowledge, but not constructive notice imparted by the Public Records. (b) "Land": The land described in Schedule A and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate, or easement in abutting streets, roads, avenues, alleys, lanes, ways, or waterways, but this does not modify or limit the extent that a right of access to and from the Land is to be insured by the Policy. (c) "Mortgage": A mortgage, deed of trust, or other security instrument, including one evidenced by electronic means authorized by law. (d) "Policy": Each contract of title insurance, in a form adopted by the American Land Title Association, issued or to be issued by the Company pursuant to this Commitment. (e) "Proposed Insured": Each person identified in Schedule A as the Proposed Insured of each Policy to be issued pursuant to this Commitment. (f) "Proposed Policy Amount": Each dollar amount specified in Schedule A as the Proposed Policy Amount of each Policy to be issued pursuant to this Commitment. (g) "Public Records": Records established under state statutes at the Commitment Date for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. (h) "Title": The estate or interest described in Schedule A. 2. If all of the Schedule B, Part I —Requirements have not been met within the time period specified in the Commitment to Issue Policy, this Commitment terminates and the Company's liability and obligation end. The Company's liability and obligation is limited by and this Commitment is not valid without: (a) the Notice; (b) the Commitment to Issue Policy; (c) the Commitment Conditions; (d) Schedule A; (e) Schedule B, Part I —Requirements; and (f) Schedule B, Part II —Exceptions. 4. COMPANY'S RIGHT TO AMEND The Company may amend this Commitment at any time. If the Company amends this Commitment to add a defect, lien, encumbrance, adverse claim, or other matter recorded in the Public Records prior to the Commitment Date, any liability of the Company is limited by Commitment Condition 5. The Company shall not be liable for any other amendment to this Commitment. 5. LIMITATIONS OF LIABILITY (a) The Company's liability under Commitment Condition 4 is limited to the Proposed Insured's actual expense incurred in the interval between the Company's delivery to the Proposed Insured of the Commitment and the delivery of the amended Commitment, resulting from the Proposed Insured's good faith reliance to: (i) comply with the Schedule B, Part I —Requirements; (ii) eliminate, with the Company's written consent, any Schedule B, Part II —Exceptions; or (iii) acquire the Title or create the Mortgage covered by this Commitment. (b) The Company shall not be liable under Commitment Condition 5(a) if the Proposed Insured requested the amendment or had Knowledge of the matter and did not notify the Company about it in writing. (c) The Company will only have liability under Commitment Condition 4 if the Proposed Insured would not have incurred the expense had the Commitment included the added matter when the Commitment was first delivered to the Proposed Insured. (d) The Company's liability shall not exceed the lesser of the Proposed Insured's actual expense incurred in good faith and described in Commitment Conditions 5(a)(i) through 5(a)(iii) or the Proposed Policy Amount. (e) The Company shall not be liable for the content of the Transaction Identification Data, if any. (f) In no event shall the Company be obligated to issue the Policy referred to in this Commitment unless all of the Schedule B, Part I —Requirements have been met to the satisfaction of the Company. (g) In any event, the Company's liability is limited by the terms and provisions of the Policy. This page is only apart of a 2016 AL TA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. F 50003700 (8-23-18) Page 2 of 13 ALTA Commitment for Title Insurance (8-1-16) California 6. LIABILITY OF THE COMPANY MUST BE BASED ON THIS COMMITMENT (a) Only a Proposed Insured identified in Schedule A, and no other person, may make a claim under this Commitment. (b) Any claim must be based in contract and must be restricted solely to the terms and provisions of this Commitment. (c) Until the Policy is issued, this Commitment, as last revised, is the exclusive and entire agreement between the parties with respect to the subject matter of this Commitment and supersedes all prior commitment negotiations, representations, and proposals of any kind, whether written or oral, express or implied, relating to the subject matter of this Commitment. (d) The deletion or modification of any Schedule B, Part II —Exception does not constitute an agreement or obligation to provide coverage beyond the terms and provisions of this Commitment or the Policy. (e) Any amendment or endorsement to this Commitment must be in writing and authenticated by a person authorized by the Company. (f) When the Policy is issued, all liability and obligation under this Commitment will end and the Company's only liability will be under the Policy. 7. IF THIS COMMITMENT HAS BEEN ISSUED BY AN ISSUING AGENT The issuing agent is the Company's agent only for the limited purpose of issuing title insurance commitments and policies. The issuing agent is not the Company's agent for the purpose of providing closing or settlement services. 8. PRO -FORMA POLICY The Company may provide, at the request of a Proposed Insured, a pro -forma policy illustrating the coverage that the Company may provide. A pro -forma policy neither reflects the status of Title at the time that the pro -forma policy is delivered to a Proposed Insured, nor is it a commitment to insure. 9. ARBITRATION Arbitration provision intentionally removed. This page is only a part of a 2016 AL TA® Commitment for Title Insurance issued by First American Ttle Insurance Company. This Commitment is not valid without the Notice,, the Commitment to Issue Policy,- the Commitment Conditions, Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. F 0003700 (8-23-18) Page 3 of 13 ALTA Commitment for Title Insurance (8-1-16) California ALTA Commitment for Title Insurance .first American ISSUED BY Schedule A First American Title Insurance Company File No: NCS-1144568-SAl Transaction Identification Data for reference only; Issuing Agent: First American Title Insurance Company National Issuing Office: 18500 Von Karman Ave, Suite 600, Commercial Services Irvine, CA 92612 Commitment No.: NCS-1144568-SAl Issuing Office File No.: NCS-1144568-SAl Property Address: 151 and 201 East Coast Highway, Newport Escrow Officer/Assistant: / Beach, County of Orange, CA Reference No.: Balboa Marina Phone: / Revision No.: i. Updated Febraury 21, 2023; Amended April 17, Email: / 2023 Title Officer/Assistant: Devon Boyles/Andrew Nhim Phone: (949)885-2453/(949)885-2447 Email: dboyles@firstam.com/anhim@firstam.com SCHEDULE A 1. Commitment Date: April 06, 2023 at 7:30 AM 2. Policy to be issued: (a) ❑ To Be Determined Proposed Insured: To Be Determined Proposed Policy Amount: $ To Be Determined (b) ❑ To Be Determined Proposed Insured: To Be Determined Proposed Policy Amount: $ To Be Determined (c) ❑ 2006 ALTA@ Policy Proposed Insured: Proposed Policy Amount: $ 3. The estate or interest in the Land described or referred to in this Commitment is Fee Simple 4. The Title is, at the Commitment Date, vested in: The Irvine Company LLC, a Delaware limited liability company 5. The Land is described as follows: See Exhibit "A" attached hereto and made a part hereof This page is only a part of a 2016 AL TA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements,• Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. (Form 50003700 (8-23-18) IPage 4 of 13 I ALTA Commitment for Title Insurance (8-1-16)I California A�=: ALTA Commitment for Title Insurance ~ First American ISSUED BY Schedule BI & BII First American Title Insurance Company File No: NCS-1144568-SA1 Commitment No.: NCS-1144568-SA1 SCHEDULE B, PART I Requirements All of the following Requirements must be met: A. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. B. Pay the agreed amount for the estate or interest to be insured. C. Pay the premiums, fees, and charges for the Policy to the Company. D. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. E. Releases(s) or Reconveyance(s) of Item(s): None F. Other: None G. You must give us the following information: a. Any off record leases, surveys, etc. b. Statement(s) of Identity, all parties. c. Other: None The following additional requirements, as indicated by "X", must be met: [X] H. Provide information regarding any off -record matters, which may include, but are not limited to: leases, recent works of improvement, or commitment statements in effect under the Environmental Responsibility Acceptance Act, Civil Code Section 850, et seq. The Company's Owner's Affidavit form (as provided by the company) must be completed and submitted prior to close in order to satisfy this requirement. This Commitment will then be subject to such further exceptions and/or requirements as may be deemed necessary. [] I. An ALTA/NSPS survey of recent date, which complies with the current minimum standard detail requirements for ALTA/NSPS land title surveys, must be submitted to the Company for review. This Commitment will then be subject to such further exceptions and/or requirements as may be deemed necessary. This page is only a part of a 2016 AL TAO Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice,- the Commitment to Issue Policy,, the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. rM r50003700 (8 23 7T e5 of 13 ALTA Commitment for Title Insurance (8 1 16) California [] J. The following LLC documentation is required from: (i) a copy of the Articles of Organization (ii) a copy of the Operating Agreement, if applicable (iii) a Certificate of Good Standing and/or other evidence of current Authority to Conduct Business within the State (iv) express Company Consent to the current transaction [] K. The following partnership documentation is required : (i) a copy of the partnership agreement, including all applicable amendments thereto (ii) a Certificate of Good Standing and/or other evidence of current Authority to Conduct Business within the State (iii) express Partnership Consent to the current transaction [X] L. The following corporation documentation is required: (i) a copy of the Articles of Incorporation (ii) a copy of the Bylaws, including all applicable Amendments thereto (iii) a Certificate of Good Standing and/or other evidence of current Authority to Conduct Business within the State (iv) express Corporate Resolution consenting to the current transaction [X] M. Based upon the Company's review of that certain partnership/operating agreement dated Not disclosed for the proposed insured herein, the following requirements must be met: Any further amendments to said agreement must be submitted to the Company, together with an affidavit from one of the general partners or members stating that it is a true copy, that said partnership or limited liability company is in full force and effect, and that there have been no further amendments to the agreement. This Commitment will then be subject to such further requirements as may be deemed necessary. [] N. A copy of the complete lease, as referenced in Schedule A, #3 herein, together with any amendments and/or assignments thereto, must be submitted to the Company for review, along with an affidavit executed by the present lessee stating that it is a true copy, that the lease is in full force and effect, and that there have been no further amendments to the lease. This Commitment will then be subject to such further requirements as may be deemed necessary. [X] O. Approval from the Company's Underwriting Department must be obtained for issuance of the policy contemplated herein and any endorsements requested thereunder. This Commitment will then be subject to such further requirements as may be required to obtain such approval. [] P. Potential additional requirements, if ALTA Extended coverage is contemplated hereunder, and work on the land has commenced prior to close, some or all of the following requirements, and any other requirements which may be deemed necessary, may need to be met: [] Q. The Company's "Indemnity Agreement I" must be executed by the appropriate parties. This page is only apart of a 2016 AL TAO Commitment for Ttle Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice,- the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements • Schedule B, Part II -Exceptions Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50003700 (8-23-18) Page 6 of 13 ALTA Commitment for Title Insurance (8-1 16) California [] R. Financial statements from the appropriate parties must be submitted to the Company for review. [] S. A copy of the construction contract must be submitted to the Company for review. [] T. An inspection of the Land must be performed by the Company for verification of the phase of construction. [] U. The Company's "Mechanic's Lien Risk Addendum" form must be completed by a Company employee, based upon information furnished by the appropriate parties involved. This page is only a part of a 2016 AL TA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice,, the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50003700 (8-23-18) Page 7 of 13 ALTA Commitment for Title Insurance (8 1 16) California A � _ First .mer-ica_n ALTA Commitment for Title Insurance �,. ISSUED BY Schedule BI & BII (Cont.) First American Title Insurance Company File No: NCS-1144568-SA1 Commitment No.: NCS-1144568-SA1 SCHEDULE B, PART II Exceptions THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN. The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I -Requirements are met. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. "Upon transfer of title to the City of Newport Beach, no further general special taxes and assessments will be levied against the City" Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 4. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 5. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 6. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 7. General and special taxes and assessments for the fiscal year 2022-2023, a lien not yet due or payable. This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements; Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50003700 (8-23-18) Page 8 of 13 ALTA Commitment for Title Insurance (8-1-16) California "Upon transfer of title to the City of Newport Beach, no further general special taxes and assessments will be levied against the City" General and special taxes and assessments for the fiscal year 2022-2023. First Installment: Penalty: Second Installment: Penalty: Tax Rate Area: A. P. No.: (Affects Portion of Said Land) $15,317.46, PAID $0.00 $15,317.46, DELINQUENT $1,554.17 07-001 050-451-01 9. This item has been intentionally deleted. 10. This item has been intentionally deleted. 11. The lien of supplemental taxes, if any, assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code. "Upon transfer of title to the City of Newport Beach, no further general special taxes and assessments will be levied against the City" 12. Any adverse claims that the line of ordinary high tide described in Orange County Superior Court Decree No. 20436, Orange County vs. The Irvine Co., May 06, 1926, is not the established boundary between the uplands in the Rancho San Joaquin and the tide and submerged lands in Newport Bay by instrument recorded May 06, 1926 in Book 651, Page 72 of Deeds. 13. This item has been intentionally deleted. 14. This item has been intentionally deleted. 15. This item has been intentionally deleted. 16. This item has been intentionally deleted. 17. This item has been intentionally deleted. 18. This item has been intentionally deleted. 19. This item has been intentionally deleted. 20. A perpetual avigation easement in and through the air above the herein described and other land, as conveyed to the County of Orange by the Irvine Company, by deed recorded March 17, 1964 in Book 6965, Page 721 of Official Records, and the terms and conditions as set forth in said deed to which record reference is hereby made for all particulars. 21. This item has been intentionally deleted. 22. This item has been intentionally deleted. This page is only a part of a 2016 ALTAO Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements,- Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. F 0003700 (8-23-18) Page 9 of 13 ALTA Commitment for Title Insurance (8-1-16) California 23. This item has been intentionally deleted. 24. This item has been intentionally deleted. 25. This item has been intentionally deleted. 26. This item has been intentionally deleted. 27. This item has been intentionally deleted. 28. This item has been intentionally deleted. 29. This item has been intentionally deleted. 30. This item has been intentionally deleted. 31. This item has been intentionally deleted. 32. An easement and right at any time, or from time to time, to maintain, operate, replace, remove, renew and enlarge the existing public utility facilities, namely 4 inch power conduits namely a 12 3/4 inch high pressure main with a 2 inch main, namely conduits in the land and facilities incidental thereto including access to protect the property from all hazards in, upon and over the land as reserved to the Southern California Edison Company in the resolution vacating state highway; Any and all rights of ingress to and egress from the land in and to the adjoining highway, except at such points as now are or may be established by resolution of the California Transportation Commission as reserved to the State of California in the resolution vacating state highway; Any private easements or lesser rights in, to, or over Pacific Coast Highway that were not affected by the proceedings vacating said highway recorded December 01, 1983 as Instrument No. 83-549259, Official Records. 33. This item has been intentionally deleted. 34. This item has been intentionally deleted. 35. This item has been intentionally deleted. 36. This item has been intentionally deleted. 37. This item has been intentionally deleted. 38. This item has been intentionally deleted. 39. This item has been intentionally deleted. 40. This item has been intentionally deleted. 41. This item has been intentionally deleted. 42. This item has been intentionally deleted. 43. This item has been intentionally deleted. This page is only a part of a 2016 AL TAO Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice,- the Commitment to Issue Policy; the Commitment Conditions Schedule A; Schedule B, Part I -Requirements, Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50003700 (8-23-18) Page 10 of 13 ALTA Commitment for Title Insurance (8-1-16) California 44. This item has been intentionally deleted. 45. This item has been intentionally deleted. 46. This item has been intentionally deleted. 47. This item has been intentionally deleted. 48. The note on Parcel Map No. 93-206 which recites as follows: "Pursuant to Section 66426(C) of the Subdivision Map Act this map is excluded from being defined as a final map in that the land is zoned commercial or industrial." 49. This item has been intentionally deleted. 50. An easement for navigational access purposes over Parcel 1 hereby reserved for the benefit of Parcel 3, as set forth on Parcel Map No. 93-206. 51. This item has been intentionally deleted. 52. This item has been intentionally deleted. 53. This item has been intentionally deleted. 54. This item has been intentionally deleted. 55. This item has been intentionally deleted. 56. This item has been intentionally deleted. 57. Any facts, rights, interests or claims which would be disclosed by a correct ALTA/NSPS survey. 58. Rights of parties in possession. This page is only apart of a 2016 AL TA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice, the Commitment to Issue Policy; the Commitment Conditions, Schedule A; Schedule B, Part I -Requirements,- Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. F 0003700 (8-23-18) Page 11 of 13 ALTA Commitment for Title Insurance (8-1-16' CaliforniE' INFORMATIONAL NOTES ALERT - CA Senate Bill 2 imposes an additional fee of $75 up to $225 at the time of recording on certain transactions effective January 1, 2018. Please contact your First American Title representative for more information on how this may affect your closing. According to the latest available equalized assessment roll in the office of the county tax assessor, there is located on the land a Commercial Structure known as 151 East Coast Highway, Newport Beach, County of Orange, California. 2. According to the public records, there has been no conveyance of the land within a period of twenty- four months prior to the date of this report, except as follows: None 3. This preliminary report/commitment was prepared based upon an application for a policy of title insurance that identified land by street address or assessor's parcel number only. It is the responsibility of the applicant to determine whether the land referred to herein is in fact the land that is to be described in the policy or policies to be issued. The map attached, if any, may or may not be a survey of the land depicted thereon. First American Title Insurance Company expressly disclaims any liability for loss or damage which may result from reliance on this map except to the extent coverage for such loss or damage is expressly provided by the terms and provisions of this Commitment or the Policy, if any, to which the map is attached. This page is only a part of a 2016 ALTAO Commitment for Ttle Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice,- the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements,• Schedule B, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. F 0003700 (8-23 18) T e 12 of 13 ALTA Commitment for Title Insurance (8-1-16) California Firs t me.r-ican Exhibit A File No.: NCS-1144568-SAl ISSUED BY First American Title Insurance Company File No: NCS-1144568-SA1 The Land referred to herein below is situated in the City of Newport Beach, County of Orange, State of California, and is described as follows: THAT PORTION OF PARCEL 1 OF PARCEL MAP NO. 93-206, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, PER MAP FILED IN BOOK 289, PAGES 1 THROUGH 7, INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY TERMINUS OF THAT CERTAIN COURSE HAVING A BEARING AND DISTANCE OF "NORTH 010 45' 46" WEST, 100.00 FEET" IN A WESTERLY LINE OF SAID PARCEL 1; THENCE, ALONG A NORTHERLY LINE OF SAID PARCEL 1, SOUTH 88° 13' 14" WEST, 102.92 FEET TO THE POINT OF BEGINNING; THENCE, CONTINUING ALONG SAID NORTHERLY LINE OF PARCEL 1, SOUTH 88° 13' 14" WEST, 44.30 FEET TO THE MOST WESTERLY NORTHWESTERLY CORNER OF SAID PARCEL 1; THENCE, ALONG THE NORTHWESTERLY LINE OF SAID PARCEL 1, SOUTH 25° 50' 43" WEST, 69.00 FEET; THENCE, TRAVERSING THE INTERIOR OF SAID PARCEL 1, THE FOLLOWING COURSES: LEAVING SAID NORTHWESTERLY LINE OF PARCEL 1, SOUTH 640 09' 17" EAST, 31.07 FEET; SOUTH 260 10' 09" EAST, 39.21 FEET; NORTH 630 49' 51" EAST, 20.00 FEET; NORTH 260 10' 09" WEST, 18.00 FEET; NORTH 010 46' 46" WEST, 74.60 FEET; NORTH 880 13' 14" EAST, 21.80 FEET TO A LINE PERPENDICULAR TO SAID NORTHERLY LINE OF PARCEL 1 AND RUNNING THROUGH SAID POINT OF BEGINNING; ALONG SAID PERPENDICULAR LINE, NORTH 01° 46' 46" WEST, 12.00 FEET TO THE POINT OF BEGINNING. For conveyancing purposes only: APN: PTN 050-451-01 This page is only a part of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions; Schedule A; Schedule B, Part I -Requirements,• Schedule S, Part II -Exceptions. Copyright 2006-2016 American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Form 50003700 (8-23-18) Page 13 of 13 ALTA Commitment for Title Insurance (8-1-16) California Exhibit E Form of Easement [attached hereto] 78334_2 RECORDED REQUESTED BY AND WHEN RECORDED, RETURN TO: City of Newport Beach 100 Newport Center Drive Newport Beach, CA 92660 Attn: City Clerk WITH A COPY TO: Irvine Management Company 550 Newport Center Drive Newport Beach, CA 92660 Attn: General Counsel's Office The undersigned declares that this document is recorded at the request of and for the benefit of the City of Newport Beach and is therefore exempt from the payment of the recording fee pursuant to Government Code Section 6103 and from payment of the documentary transfer tax pursuant to Revenue and Taxation Code Section 1922. Space above this line for Recorder's Use Only ACCESS AND PARKING EASEMENT (Public Docks Adjacent to Balboa Marina) WHEREAS, THE IRVINE COMPANY LLC, a Delaware limited liability company ("Company") is the owner of land more particularly described on Exhibit "A" attached hereto (the "Land"). WHEREAS, in connection with its construction and dedication of land and improvements (collectively, the "Public Docks") to the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City"), which Public Docks are to be used as a boat berthing facility for free, public, transient use, City has requested an access and parking easement over the Land in order to maintain and repair the Public Docks in the future. The dedication of the Public Docks was made pursuant to that certain Gift Deed dated by and between Company and City and recorded in the Official Records of Orange County, California ("Official Records") on , as Instrument No. (the "Gift Deed"). WHEREAS, subject to the terms and conditions set forth below, Company is willing to grant to City (i) an access easement over a portion of the Land consisting of drive aisles between Pacific Coast Highway and the Public Docks, as such drive aisles locations may be modified from time to time by Company in its sole discretion (the "Access Easement Area"), and (ii) a parking easement over a portion of the Land consisting of up to three (3) available parking spaces, as such parking spaces locations may be modified from time to time by Company in its sole discretion (the "Parking Easement Area"; collectively with the Access Easement Area, the "Easement Areas"), and City is willing to accept the terms and conditions set forth in this Access and Parking Easement. 58475_2 1 NOW, THEREFORE, for valuable consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows: 1. Grant of Access Easement. Company hereby grants to City a perpetual easement (the "Access Easement") of ingress and egress over the Access Easement Area. 2. Grant of Parking Easement. Company hereby grants to City a perpetual easement (the "Parking Easement"; together with the Access Easement, the "Easements") to park up to three (3) maintenance or service vehicles in the Parking Easement Area. 3. Nature of Easements. The Easements conveyed hereunder are limited solely to use by City and its employees, contractors, invitees and agents (collectively, the "City Parties") in connection with City's maintenance, repair and replacement of the Public Docks, and only between the hours of 7:OOam and 6:OOpm Monday thru Friday while maintenance and repair work is being performed on the Public Docks. No rubbish, trash, garbage, refuse, debris or materials of any kind shall be placed or abandoned by City on the Easement Areas. In the event any such materials are left on the Easement Areas, City shall promptly clean the affected portions of the Easement Areas to Company's reasonable satisfaction. The use of the Easements shall be subject to Company's access and parking rules and regulations related to the Land, as such rules and regulations may be modified from time to time by Company in its sole and absolute discretion upon written notice thereof to City. If Company permits, in its sole and absolute discretion, staging of equipment on any portion of the Land in connection with City's maintenance, repair or replacement of the Public Docks, such staging of equipment will be part of the Easements granted hereunder, and the location thereof will be part of the Easement Areas, and subject to all terms and conditions of this Access and Parking Easement and any other terms and conditions required by Company in connection with Company's consent to such staging of equipment. 4. Subject to Matters of Record or Apparent. In addition to the terms and conditions set forth in this Access and Parking Easement, the Easements conveyed to City hereunder shall be subject to all easements, covenants, conditions, restrictions, reservations, rights and rights -of - way of record prior to the date hereof or apparent or of which City has actual or constructive notice. 5. Non -Exclusive Rights. City's use of the Easement Areas shall be non-exclusive, and Company retains the rights to use and to grant to others the non-exclusive right to use the property burdened by the Easements for any and all lawful purposes, to the extent such uses, or any of them, do not unreasonably interfere with the exercise by City of the rights granted hereunder. 6. Repairs & Maintenance Activities. The parties acknowledge that the Easements affect land that is part of an existing marina operation (the "Marina") and, in order to minimize inconveniences to the Marina operations arising from exercise of the rights and obligations under these Easements to the extent reasonably possible, agree to the following with respect to City's use of the Easement Areas: 58475_2 2 a. Minor Maintenance and Repair. Prior to entering the Easement Areas to perform any maintenance or repair of the Public Docks that does not require use of a staging area, City shall provide telephonic notice to Company's marina leasing office (the "Marina Office") at least two (2) business days prior to commencement of the proposed maintenance. b. Major Maintenance, Repair or Replacement. Prior to entering the Easement Areas to perform repair or replacement or maintenance of the Public Docks that will require the use of staging area(s), City shall provide written notice (each, a "Maintenance Notice") to the Marina Office at least five (5) business days prior to such entry (except in case of emergency, in which event City shall provide such notice to the Marina Office within three (3) business days after such entry detailing the nature and time of such entry). Each Maintenance Notice shall contain a description of the matters listed on Exhibit `B" attached hereto and incorporated herein by this reference. Prior to commencement of City's use of the Easement Areas pursuant to a Maintenance Notice, City's representative and Company's General Manager of the Marina Office (or such other representative of Company as designated from time to time) shall meet and coordinate with respect to the final locations for staging, parking and other matters set forth in the Maintenance Notice in order to reasonably minimize inconvenience to Marina operations arising from the proposed work. C. Cleanup & Other Obligations During Maintenance & Repair Activities. City shall clean the staging area(s) of the Easement Areas at the end of the period of its entry and shall clean the vehicle parking areas of the Easement Areas at the end of each day during the period of its entry, and shall comply with all applicable laws, ordinances and regulations, including but not limited to those regarding surface drainage, groundwater and surface water quality applicable to such cleanup activities. In exercising its rights under this Access and Parking Easement, City will cooperate with the Company's General Manager of the Marina Office to minimize interference with the use, access, ingress and egress over the Easement Areas and other Marina operations. 7. Damage to Company Improvements. If any of the City Parties damage any improvements on the Land, City shall reimburse (or shall cause the applicable City Parties to reimburse) Company for the cost of replacement and restoration of any such damaged improvements (whether "standard" or "non-standard"). City shall make (or cause the applicable City Parties to make) such reimbursement to Company within thirty (30) days of City's receipt of Company's invoice and backup documentation, if any, substantiating the replacement and restoration work performed. 8. Liens. City shall not suffer, cause or permit any liens of any kind related to City's activities or City's repair work to be filed against the Easement Areas or any other portion of the Land or any improvements thereon. If any such lien is filed, City shall, at its sole cost and ssa75_2 3 expense, promptly take such actions as are necessary to cause the lien to be satisfied and discharged or to cause such lien to be removed of record. 9. Insurance. City shall require its contractors that utilize the Easement Areas to obtain, provide and maintain at all times during such use of the Easement Areas, at no cost or expense to Company, policies of liability insurance of the types and amounts described below. Certification of all required policies shall be signed by a person authorized by that insurer to bind coverage on its behalf and must be filed with Company prior to use of the Easement Areas. Said policies shall be for the following coverages and shall be issued by companies authorized or licensed to do business in California and assigned Best's A- VII or other rating acceptable to Company: a. Workers compensation insurance, including a "Waiver of Subrogation" clause, covering all employees of such contractor, per the laws of the State of California. b. Commercial general liability insurance, including additional insured and primary and non-contributory wording, covering third party liability risks, in a minimum amount of one million dollars ($1,000,000) combined single limit per occurrence for bodily injury and property damage. If commercial general liability insurance or other form with a general aggregate is used, either the general aggregate limit shall apply separately to the work to be performed under this Access and Parking Easement, or the general aggregate limit shall be twice the occurrence limit. C. Commercial auto liability insurance, covering any owned, hired and non -owned vehicles of such contractor in a minimum amount of one million dollars ($1,000,000) combined single limit per accident for bodily injury and property damage. Company may, from time to time and upon prior written notice to City, require increases in the amounts of coverage specified above to conform with the levels of insurance required by Company in contracts for similar maintenance work. City shall require its contractors to provide Company with an endorsement to contractor's commercial general liability policy providing ongoing and completed operations coverages for the additional insureds listed below and shall contain the following language or otherwise include the following coverages generally: "It is understood and agreed that coverage afforded by this policy shall also apply to The Irvine Company LLC, Irvine Management and all persons and entities controlling, controlled by, or under common control with such entities, and any lender with an interest in the Land and/or any improvements thereon, together with their respective owners, shareholders, partners, members, divisions, officers, directors, employees, representatives and agents, and all of their respective successors and assigns, as additional insureds, but only with respect to legal liabilities or claims caused by, arising out of or resulting from the acts or omissions of the named insured or of others performed on behalf of the named insured. This insurance is primary and any other insurance maintained by such additional insureds is excess and shall not be required to contribute with this 5847s_2 4 insurance as respects claims or liability arising out of or resulting from the acts or omissions of the named insured, or of others performed on behalf of the named insured. Any of such additional insureds may, at his/her/its election, pay any self -insured retention or deductible amount in connection with any claim or liability for which coverage is or may be provided by such insurance notwithstanding any other provision of the policy." Said policy or policies shall be endorsed to state that coverage shall not be subject to cancellation or non -renewal without thirty (30) days prior written notice to be delivered to Company. All contractors providing insurance as required hereunder shall give Company prompt and timely notice of claim made or suit instituted arising out of contractor's use of the Easement Areas. Each contractor shall also procure and maintain, at its own cost and expense, any additional kinds of insurance that in its own judgment may be necessary for its property protection and prosecution of the work. Each contractor will be required to agree that in the event of loss due to any of the perils for which it has agreed to provide commercial general and automotive liability insurance, contractor shall look solely to its insurance for recovery. The commercial general and workers' compensation policy and any other policy pertaining to the Easement Areas carried by each contractor will contain a waiver of subrogation with respect to Company as to any claims that may be asserted against Company by virtue of the payment of any loss under such insurance. 10. Indemnity. City shall defend, indemnify, protect and hold harmless Company and the additional insureds described in Section 9 (individually, an "Indemnitee"; collectively, the "Indemnitees") from all losses, claims, liens, suits, costs, damages, expenses (including actual attorneys' fees), liabilities and actions of any name, kind or description (individually, a "Claim"; collectively, "Claims"), whether incurred by or made against any Indemnitee or made by any third parry, arising out of or related to injuries to or death of any person or damage to any property resulting from or caused by (a) use of the Easement Areas (as well as any activity related to or connected with said use) by City, its employees, contractors, and agents, and the respective employees thereof, or (b) breach of any of the terms of this Access and Parking Easement by City. Notwithstanding the foregoing, nothing herein shall be construed to require City to indemnify the Indemnitees from any Claim arising from the sole negligence or willful misconduct of the Indemnitees. Nothing in this indemnity shall be construed as authorizing any award of attorney's fees in any action on or to enforce the terms of this Access and Parking Easement. This indemnity shall apply to all claims and liability regardless of whether any insurance policies are applicable. The policy limits of any such insurance policies shall not act as a limitation upon the amount of indemnification to be provided by City. Payment of any Claim shall not be a condition precedent to enforcement of the indemnity obligations contained herein. 11. Relocation of Easement Areas. If Company desires to relocate the Easement Areas in the future, Company may relocate the Easement Areas in its sole and absolute discretion and unilaterally record an amendment to this Access and Parking Easement to identify the new location of the Easement Areas without City's countersignature thereto, but Company shall provide prior written notice to City. Notwithstanding the foregoing, any such relocation of the Easement Areas shall continue to provide City with access to, and parking for, the Public Docks through and on the Land. 58475_2 5 12. Termination of Easements. In the event City stops operating the Public Docks for more than two (2) consecutive calendar years, the Easements shall terminate automatically. If requested by Company, City promptly will execute and notarize a document in recordable form that acknowledges the termination and quitclaim of such Easements. 13. Controlling Law. This Access and Parking Easement shall be governed by and interpreted in accordance with the laws of the State of California. Any action brought relating to this Access and Parking Easement shall be adjudicated in a court of competent jurisdiction in the County of Orange. 13. Notices. Any notice, demand or other communication to be given by either parry to the other hereunder shall be given by personal service, or Express Mail, Federal Express, DHL, UPS or any other similar form of reputable airborne/overnight delivery service, or mailing in the United States mail, postage prepaid, certified and return receipt requested, addressed to the parties at their respective addresses as follows: IF TO CITY: City of Newport Beach 100 Newport Center Drive Newport Beach, CA 92660 Attention: Harbor Department With copy to: City of Newport Beach 100 Newport Center Drive Newport Beach, CA 92660 Attention: City Attorney's Office IF TO COMPANY: CRC Marinas - Newport Beach 1137 Bayside Drive Newport Beach, CA 92625 Attn: General Manager With copy to: Irvine Management Company 550 Newport Center Drive Newport Beach, CA 92660 Attn: General Counsel's Office Any such notice shall be deemed to have been given upon delivery or, if mailed, upon actual receipt or the date on which actual receipt is rejected. Either party may change the address where it desires to receive notice upon giving written notice of such request to the other party. 14. Waiver; Remedies. No delay on the part of any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party hereto of any right, power or privilege hereunder operate as a waiver of any other right, power or privilege hereunder, nor shall any single or partial exercise of any right, 58475_2 6 power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. 15. Run with the Land. This Access and Parking Easement and the terms, conditions and covenants contained herein shall be perpetual in nature and shall run with the Public Docks, Easement Areas and the Land, and shall be binding upon and inure to the benefit of Company and City and each of their respective successors and assigns, whether the interest held by such party is in fee or otherwise. 16. Incorporation of Exhibits. Exhibits A and B, as attached hereto, are hereby incorporated herein by this reference. 17. Authority. The parties to this Access and Parking Easement represent and warrant that this instrument has been duly authorized and executed and constitutes the legally binding obligation of their respective organization or entity, enforceable in accordance with its terms. 18. No Attorneys' Fees. In the event of any dispute arising under this Access and Parking Easement, the prevailing parry shall not be entitled to its attorneys' fees. 19. Entire Agreement. This Access and Parking Easement, together with the Exhibits attached hereto, constitutes the entire agreement between the parties pertaining to the subject matter hereof, and all prior and contemporaneous agreements, representations, negotiations and understandings of the parties, whether oral or written, are hereby superseded and merged herein. [signature on following page) 58475_2 7 IN WITNESS WHEREOF, the parties hereto have executed this Access and Parking Easement as of , 202 "Company" THE IRVINE COMPAMNY LLC, a Delaware limited liability company By: Name: Title: By: Name: Title: "City" CITY OF NEWPORT BEACH, a California municipal corporation By: Grace K. Leung City Manager ATTEST: By: Leilani I. Brown City Clerk APPROVED AS TO FORM: Aaron C. Harp City Attorney 58475_2 8 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 ORANGE On , 20_, before me, , a Notary Public, personally appeared 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. Notary Public (SEAL) 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 ORANGE On , 20_, before me, , a Notary Public, personally appeared 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. Notary Public (SEAL) 58475_2 9 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 ORANGE ) On , 20_, before me, , a Notary Public, personally appeared 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. Notary Public (SEAL) 58475-2 10 Exhibit "A" Description of the Land PARCELS 1, 2 AND 3 OF PARCEL MAP NO. 93-206, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, PER MAP FILED IN BOOK 289, PAGES 1 THROUGH 7, INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. APNs: 050-451-01, -02, -03, and -60; 440-132-39 and -51 584752 � E N O co � W U N � � LLJ Vw w cn > �Fl� 0 o �0cq °cqo OU� m o MP U LLJ CV w Z N j r Cho N LO o L w N U � a z a � I 0 LO J a 00 N W Q m J Q � N — 2 O � z cli U w (� as a_ w U a �NNb/yj�b9 -(be�b'oyM ��dd�N Exhibit "B" Contents of Maintenance Notice Each Maintenance Notice provided by City under Section 6.b of this Access and Parking Easement shall specify or contain the following information: The proposed dates when the work will take place (estimated start and completion dates). 2. Location of the proposed staging area. If work crews will require parking of their vehicles for more than one (1) day, the proposed location of such parking. 4. City's proposed plan for such work. 58475_2 Exhibit F Form of Bill of Sale [attached hereto] 783342 BILL OF SALE (Public Dock Improvements Within Tidelands Adjacent to Balboa Marina) For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, THE IRVINE COMPANY LLC, a Delaware limited liability company ("Company's, hereby transfers and conveys to the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City', all of Company's right, title and interest in and to the structures and other improvements constituting the public dock facilities (collectively, the "Public Dock Improvements") located within the portion of State tidelands held in trust and maintained by the County of Orange, depicted on Exhibit A attached hereto. The Public Dock Improvements, which are attached to and a part of a larger public dock facility that will be conveyed by Company under a separate instrument, are described on Exhibit B attached hereto. This Bill of Sale is executed in accordance with the terms of that Conveyance Agreement between Company and City dated April 25, 2023 ("Agreement's. Company does hereby covenant that it is the lawful owner of the Public Dock Improvements, that Company has good right to transfer and convey the same, that the Public Dock Improvements are free of monetary liens (mechanics, materialmens, or other) and encumbrances, and that Company will warrant and defend the title thereto unto City, its successors and assigns, against the claims and demands thereon with respect to any work performed by Company prior to the date of this Bill of Sale. In conjunction with this Bill of Sale, Company shall assign or transfer to City all bonds, guarantees, and warranties obtained by Company for the Public Dock Improvements. City hereby accepts the Public Dock Improvements and acknowledges and agrees that the Public Dock Improvements shall be the sole property of City, and City shall have the obligation to operate, maintain and repair the Public Dock Improvements. [Signature Page Follows] 78334_1 1 of 2 The persons executing this Bill of Sale on behalf of Company and City warrant that (a) they are duly authorized to execute this Bill of Sale on behalf of the party for whom they sign and (b) ownership of the Public Dock Improvements shall be vested in City upon execution of this Bill of Sale and acceptance and recordation of the Offer of Dedication, Public Walkway Dedication, and Easement Deed, in accordance with the Agreement. COMPANY THE IRVINE COMPANY LLC, a Delaware limited liability company am go CITY CITY OF NEWPORT BEACH, a California municipal corporation and charter city I0 Grace K. Leung City Manager ATTEST: 52 Leilani I. Brown City Clerk APPROVED AS TO FORM: Aaron C. Harp City Attorney 78334_1 2 of 2 EXHIBIT A DEPICTION OF THE TIDELANDS 78334_1 EXHIBIT B DESCRIPTION OF THE PUBLIC DOCK IMPROVEMENTS 78334_1