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Home My WebLink AboutC-9397-2 - Lido Marina Village Marina - MOL 20238/7/23, 11:21 AM Batch 16154109 Confirmation Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder II II III II III III[III IIIII [II III' II NO FEE *$ R 0 0 1 4 4 9 Z 5 8 3$ 202300018968211:00 am 08/07/23 90 CR-SC06 M11 6 0.00 0.00 0.00 0.00 15.00 0.00 0.000.000.00 0.00 RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive PO Box 1768 Newport Beach, CA 92658 (Exempt from Recordation Fee - Govt. Code Sec: . 27383] MEMORANDUM OF LEASE AGREEMENT This Memorandum of Lease Agreement ("Memorandum") is dated August 1, 2023, and is made between City of Newport Beach, a California municipal corporation and charter city("Lessor' or "City") and DJM Arc Lido, LLC, a Delaware limited liability company ("Lessee"), concerning the Premises described in Exhibit "A" and depicted in Exhibit "B," attached hereto and by this reference made a part hereof. For good and adequate consideration, Lessor leases the Premises to Lessee, and Lessee leases them from Lessor, for the term and on the provisions contained in the Agreement dated August 1, 2023, including without limitation provisions prohibiting assignment, subleasing, and encumbering said leasehold without the express written consent of Lessor in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The initial term is twenty five (25) years, beginning August 1, 2023, and ending July 31, 2048, with one (1) option term for one (1) additional successive "Renewal Term" of ten (10) years, on the same terms and conditions contained in this Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts shall control. Execution hereof constitutes execution of the Agreement itself. (SIGNATURES ON NEXT PAGE] H https://gs.secure-erds.com/Batch/Confirmation/16154109 1 /2 RECORDING REQUESTED AND WHEN RECORDED RETURN TO: Office of the City Clerk City of Newport Beach 100 Civic Center Drive PO Box 1768 Newport Beach, CA 92658 [Exempt from Recordation Fee - Govt. Code Sec: 27383] MEMORANDUM OF LEASE AGREEMENT This Memorandum of Lease Agreement ("Memorandum") is dated August 1, 2023, and is made between City of Newport Beach, a California municipal corporation and charter city ("Lessor" or "City") and DJM Arc Lido, LLC, a Delaware limited liability company ("Lessee"), concerning the Premises described in Exhibit "A" and depicted in Exhibit "B," attached hereto and by this reference made a part hereof. For good and adequate consideration, Lessor leases the Premises to Lessee, and Lessee leases them from Lessor, for the term and on the provisions contained in the Agreement dated August 1, 2023, including without limitation provisions prohibiting assignment, subleasing, and encumbering said leasehold without the express written consent of Lessor in each instance, all as more specifically set forth in said Agreement, which said Agreement is incorporated in this Memorandum by this reference. The initial term is twenty five (25) years, beginning August 1, 2023, and ending July 31, 2048, with one (1) option term for one (1) additional successive "Renewal Term" of ten (10) years, on the same terms and conditions contained in this Agreement. This Memorandum is not a complete summary of the Agreement. Provisions in this Memorandum shall not be used in interpreting the Agreement's provisions. In the event of conflict between this Memorandum and other parts of the Agreement, the other parts shall control. Execution hereof constitutes execution of the Agreement itself. [SIGNATURES ON NEXT PAGE] -1- LESSOR City of Newport Beach, a California municipal corporation and charter city5 Z� Date: Z 2.02 LESSEE DJM Arc Lido, LLC a Delaware limited lic, Date: I — 3 � — Gr - e . Leung Lindsay A. Pa Ci anager (pursuant to a ATTEST: Leilani I. Brown City Clerk APPROVED AS TO FORM: Date: % i% • 23 A n Harp City orney Attachments: Exhibit A — Description of Premises Exhibit B — Depiction of Premises O�� corppany n dated May 11, 2023) -2- ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Sa(ykz-t } ss. ; On 5L'\y 2-5 20 �3 before me, G�AWa,-CLs No}arcl P��t personally appeared LKindsa�:j Ak-. "Wuf-Mll\ , who proved to me on the basis of satisfactory evidence to be the person(,g) whose name(,a)(Dare subscribed to the within instrument and acknowledged to me that i /she/they executed the same inl�i /her/their authorized capacity(i45-s), and that by&/her/their signaturesA on the instrument the persorl(�5), or the entity upon behalf of which the personf-'j acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragrah is true and correct. ..................... .....:............ w><tu ry Kelsey Elizabeth Edwards: WITNE S my hand nd official seal. ; COMM # 2396027 1 S _ SANTA BARBARA County ,x, ' California Notary Publie ' q4 ..Comm Mar, 7. 2026. Sig re (seal) ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of OQAim GC } ss. On NVVUbT 2 , 20 23 before me, JOWIKI2 aNN rrit�t.VEY personally appeared cpaAc�& V-- L-euj t(. , proved to me on the basis of satisfactory evidence to be the person(.&) whose name(e) is/are subscribed to the within instrument and acknowledged to me that hWshe/tbQ* executed the same in has/.her/t4gir authorized capacity(4@4q, and that by h"er/t"r signatures(.&) on the instrument the person(4), or the entity upon behalf of which the person(&) 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. JENNIfER ANN MUL`/EY Notary public • ratifernia WITMmy hand and official seal. A oran;eCounty 'ram Commission # 2375219 `My Comm. Expires Oct 12, 2425 (seal) EXHIBIT "A" DESCRIPTION OF PREMISES Lido Marina Village Marina The Lido Marina Village Marina is made up of a West Parcel of submerged tidelands: West Parcel (100' x 595.83) = 59,583 total square feet of submerged tidelands The Lido Marina Village Marina includes the northern and middle docks (as supported by the uplands property associated with buildings 3400-3450 Via Oporto), with some of the structural elements of the marina dating back to 1955, and with the most recent comprehensive rebuild taking place in 1974. (Refer to attached Proposed Plan map diagram.) Northern and Middle Docks The northern dock was designed and constructed in the late 1950s as a wood -framed and decked system with the support of concrete or foam -filled plastic pontoons. The 12-inch square, traditionally reinforced concrete piles are also not believed to be pre -stressed. The deck surface of this marina is composed of primarily by a 2-inch by 6-inch timber deck. Seawall The seawall, 950 feet in length, is made up of a concrete cap, concrete panel sheets, and un-encased steel rod tieback systems linking the concrete cap and concrete deadmen. Some pilings at the western edge of the marina were constructed in 1955 and other elements of the westerly portion of the existing docks/guide piles and the former sheet pile bulkhead (now replaced by a concrete bulkhead) appear to date from the mid-1950s, and have been continuously repaired and replaced from the 1960s to today. Repairs to the dock, piling elements and access ramps due to marina changes have been made by owners and tenants, typically using standard design criteria. Utility Systems Utility connections for water and power exist, however, there are utilities supported by the docks or seawall that are submerged. There are utility flex lines at the land/water interface. EXHIBIT "A" -1- 701 Crd�.N. pws. .. 1703 Crdra N Pv 1— v 1704-/we Newpo,t l... ri1 I705 G.A.U. li,dra N.wP.rt I,r. NI, I706 707 I.W.. N.".,L lam. .,d .. N—pon. I— 709 1.h—. P..IIk Mtl4r 71Fa R..YI. m 1711 rn NnYk I712 FD w.d. 1 7I 3/714 1:21 Rs.Y4 525a Ilumlrnn lnleaB M1..luonteck _. -. 5256 iko.wt.ro. w.rn.K I 509 — �- 508 Ak Kl.0 T.dr 1 1T'( 507 k.M1.1k.Y, .111b211 �6 Nlchv.IMdli,�,(vtlr)1) �05 M.Su01�Lu..d. I ..� 425.1 425.2 s.. C1..11 M. n.. c., 425b s..co..lnwd..c,p 5041 M1g1mr. Il d.anµ 11 lkrrT (5046 Naffr...11NidYll..tYl kr.r n..dl 3 EXHIBIT "A" -2- I EXHIBIT "B" DEPICTION OF PREMISES _ a t ry a Gal h ti v .A ro 42311101}h' 423 123 0 + _ 3d i Newport Df Beach accuracy Every reasonable effort has been made to assure the accuracy of the data provided, however, The City of GI S Newport Beach and its employees and agents disclaim any and all responsibility from or relating to ? any results obtained in its use. 0 100 200 Imagery: 2009-2013 photos provided by Eagle YYY Feet Imaging www.eagleaerial.com �LI�Rrr 13125A201, EXHIBIT "B" —1 —