HomeMy WebLinkAboutC-8970-2 - Termination of Affordable Housing Agreement11/13/23, 11:07 AM Batch 16629466 Confirmation
Recorded in Official Records, Orange County
Hugh Nguyen, Clerk -Recorder
I] JI II III IIIII I III II IIII 1[ NO FEE
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202300027625411:02 am 11/13123
RECORDING REQUESTED BY
AND WHEN RECORDED, MAIL TO:
Attention: City Clerk's Office
City of Newport Beach
P.O. Box 1768
Newport Beach, California 92658-8915
90 CR-SC06 T02 38
0.00 0.00 0.00 0.00 111.00 0.00 0.000.000.00 0.00
Space above this line reserved for recorder's use only
EXEMPT FROM RECORDING FEES PURSUANT TO GOV'T CODE §§ c, 27383
EXCEPT FOR GOV'T CODE § 27361.3
TERMINATION OF AFFORDABLE HOUSING AGREEMENT
WHEREAS, the City of Newport Beach, a California municipal corporation and charter
city ("City"), approved Newport Harbor 'Apartments II, a California general partnership,
("Developer") request to construct a multifamily residential project including fourteen(14)
affordable dwelling units ("Project'), commonly known as the Newport Harbor Apartments II,
located at 1530 Placentia Avenue, in the City of Newport Beach, California (APN No. 424-161-
05), and as legally described in Exhibit "A," which is attached hereto and incorporated herein by
this reference ("Property");
WHEREAS, the City and Developer entered into that certain Affordable Housing
Agreement, dated as of February 1, 1991, and recorded on February 8, 1991, by the Office of the
County Recorder in the Official Records of Orange County as Instrument Number 91-058763
("Agreement") in connection with the Project;
WHEREAS, a true and correct copy of the Agreement is attached hereto as Exhibit "B"
and incorporated herein by this reference;
WHEREAS, in connection with the Agreement, the City acquired an interest in the
Property by way of that certain Grant Deed recorded, by the Office of the County Recorder in the
Official Records of Orange County as Instrument Number 87-643418 ("Grant Deed"), a true and
correct copy of which is attached hereto as Exhibit "C" and incorporated herein by this reference;
WHEREAS, pursuant to the Agreement, Developer promised, covenanted, and agreed to
maintain the fourteen (14) dwelling units constructed on the Property as affordable to lower
income families for a period of thirty (30) years;
WHEREAS, the Agreement was made binding upon and inured to the benefit of the
parties' respective successors and assigns;
https://gs.secure-erds.com/Batch/Confirmation/l 6629466 1 /2
RECORDING REQUESTED BY
AND WHEN RECORDED, MAIL TO:
Attention: City Clerk's Office
City of Newport Beach
P.O. Box 1768
Newport Beach, California 92658-8915
Space above this line reserved for recorder's use only
EXEMPT FROM RECORDING FEES PURSUANT TO GOV'T CODE §§ 27383
EXCEPT FOR GOV'T CODE § 27361.3
TERMINATION OF AFFORDABLE HOUSING AGREEMENT
WHEREAS, the City of Newport Beach, a California municipal corporation and charter
city ("City"), approved Newport Harbor 'Apartments II, a California general partnership,
("Developer") request to construct a multifamily residential project including fourteen(14)
affordable dwelling units ("Project'), commonly known as the Newport Harbor Apartments II,
located at 1530 Placentia Avenue, in the City of Newport Beach, California (APN No. 424-161-
05), and as legally described in Exhibit "A," which is attached hereto and incorporated herein by
this reference ("Property");
WHEREAS, the City and Developer entered into that certain Affordable Housing
Agreement, dated as of February 1, 1991, and recorded on February 8, 1991, by the Office of the
County Recorder in the Official Records of Orange County as Instrument Number 91-058763
("Agreement") in connection with the Project;
WHEREAS, a true and correct copy of the Agreement is attached hereto as Exhibit "B"
and incorporated herein by this reference;
WHEREAS, in connection with the Agreement, the City acquired an interest in the
Property by way of that certain Grant Deed recorded, by the Office of the County Recorder in the
Official Records of Orange County as Instrument Number 87-643418 ("Grant Deed"), a true and
correct copy of which is attached hereto as Exhibit "C" and incorporated herein by this reference;
WHEREAS, pursuant to the Agreement, Developer promised, covenanted, and agreed to
maintain the fourteen (14) dwelling units constructed on the Property as affordable to lower
income families for a period of thirty (30) years;
WHEREAS, the Agreement was made binding upon and inured to the benefit of the
parties' respective successors and assigns;
WHEREAS, DRC Investments, Inc., a California corporation, and Capilouto
Incorporated, a California corporation, are the successor in interest to Developer and the legal
owner of all rights, title, and interest in the Property pursuant to the Grant Deed recorded July 27,
1994, by the Office of the County Recorder in the Official Records of Orange County as Instrument
Number 94-0474084 which is attached hereto as Exhibit "D" and incorporated herein by
reference;
WHEREAS, the obligation under the Agreement to maintain the fourteen (14) dwelling
units constructed on the Property as affordable to lower income families for thirty (30) years
expired on February 1, 2021;
WHEREAS, in connection with the expiration of the obligations under the Agreement, the
City is obligated to release and quitclaim its interest in the Property; and
NOW, THEREFORE, the parties hereto agree to terminate the Agreement, and thereby
terminate all promises, covenants, agreements, rights, duties, and obligations under the Agreement
to maintain the fourteen (14) dwelling units constructed upon the Property as affordable housing
units and remove the affordable housing unit obligation as a matter affecting title to the Property,
and the City hereby remises, releases and quitclaims the Property to DRC Investments, Inc., a
California corporation, and Capilouto Incorporated, a California corporation.
[Remainder of page intentionally left blank; signature page follows]
IN WITNESS WHEREOF, this instrument is duly executed as of the date first above
written.
APPROVED AS TO FORM: CITY OF NEWPORT BEACH,
CITY ATTORNEY'S OFFICE a California municipal corporation
By: By: 02-�
Aaro 3 0` . Harp Ct j� ,G . Leung
City A orney City Manager
ATTEST:
6
By:
Leilam L. Brown
City Clerk
CAPILOUTO, INCORPORATED,
a California corporation
Signed in Counterpart
By:
David L. Waters
Chief Executive Officer / Secretary
DRC INVESTMENTS, INC.,
a California corporation
Signed in Counterpart
By:
Dennis Ray Capilouto
Chief Executive Officer
Signed in Counterpart
Susan Mary Capilouto
Secretary
[END OF SIGNATURES]
Owners must sign in the presence of notary public
Attachments: Exhibit A - Property Legal Description
Exhibit B - Affordable Housing Agreement, dated February 1, 1991
Exhibit C - Grant Deed Recorded in the Office of the County Recorder in the
Official Records of Orange County as Instrument Number 87-643418
Exhibit D - Grant Deed Recorded in the Office of the County Recorder in the
Official Records of Orange County as Instrument Number 94-
0474084
11
IN WITNESS WHEREOF, this instrument is duly executed as of the date first' aliov�:e
written.
APPROVED AS TO FORM: CITY OF NEWPORT BEACH,
CITY ATTORNEY'S OFFICE a California municipal corporation
By: By: ,
Aaro . Harp 5 Grace K. Leung
City A orney City Manager
ATTEST:
By:
Leilani L. Brown
City Clerk
CAPILOUTO, INCORPORATED,
a California corporation
By:
David L. Waters
Chief Executive Officer / Secretary
DRC INVESTMENTS, INC.,
a California corporation
By:
Dennis Ray Capil4uto
Chief Executive Officer
By: c,lt1' c>t
Susan Many Capilout
Secretary
[END OF SIGNATURES]
Owners nsust sign in the presence of notary public
Attachments: Exhibit A - Property Legal Description
Exhibit B - Affordable Housing Agreement, dated February 1, 1991
Exhibit C - Grant Deed Recorded in the Office of the County Recorder in the
Official Records of Orange County as Instrument Number 87-64341 IS"
Exhibit D - Grant Deed Recorded in the Office of the County Recorder in the
Official Records of Orange County as Instrument Number 94-
0474084
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 ORANGE
On 10),3 before me, Darby Payne Hawke Driskill Notary Public
(insert name and title of the officer)
personally appeared O ckU , ;' L , V raj eri
who proved to me on the basis of satisfactory evidence to be the person(() whose name(O is/art
subscribed to the within instrument and acknowledged to me that he/slat✓/twey executed the same in
his/heT/thq,fr authorized capacity(i�s), and that by his/I &/their signature(.9) on the instrument the
person(, or the entity upon behalf of which the person(o 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.
............................
DARBY PAYNE ;
WITNESS my hand and official seal. �` NUU., $. \ HAWKE DRISKILL
y.p COMM A.: 2382150 1X
_ ORANGE County
r California Notary Public
Comm Exp Nov. 7. 2025
Signature (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
fh
, o t at ydocument.
' - State of California
V.
�� II County of _ (�r[V1c�Pe } ss, �u��
it on
, 20 Z before me, �n �y� , Notary Public, personally appeared
C a ' t� , who proved to me on the basis of satisfactory evidence to be the persons)
whose names I scribed to the within instrument and acknowledged to me tha(gOteA* executed the
same authorized capacity(ies), and that by(� signatures(s) on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I il,ti
II
I certify under PENALTY OF PERJURY under the laws foregoing paragraph
. is true and correct. NATHAN SHETLAND ai
COMM ... 2314953
NOTARY PUBLIC-CALIFORNIA —�
WITNESS my hand and official seal. a] , ,. ORANGE COUNTY W
My Term Exp. December 4, 2023
Signature (seal)
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the individual
�4 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 } I; ss. O (� t , 20 before me, ark r , Notary Public, personally appeared
,
'' 1,•. 11 fitA C , who proved to me on the basis of satisfactory evidence to be the person(s)
whose names is ; u scribed to the within instrument and acknowledged to me that hiOA4w),f-executed the
Or
same in orized capacity(ies), and that by+ /t� oei ignatures(s) on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
11 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing g g paragrapb,P ,
is true and correct.
Ii : • NATHAN SHETLAND
WITNESS my hand and official seal. Im- �; COMM...2314953 m
U NOTARY PUBLIC
•CALIFORNIA —i
' c LIJ �® ORANGE COUNTY W
o
I{ I My Term Exp. December 4, 2023
low
' Signature (sell)
dv:-
11 J.
i
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 } SS.
On , 20 before me, , 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 signatures(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.
Signature
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
(seal)
County of } SS.
On , 20 before me, , 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 signatures(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.
Signature (seal)
EXHIBIT A
LEGAL DESCRIPTION
THE LAND REFERRED TO IN THIS DOCUMENT IS SITUATED IN THE STATE OF
CALIFORNIA, COUNTY OF ORANGE, CITY OF NEWPORT BEACH, COMMONLY
KNOWN AS 1530 PLACENTIA AVENUE AND DESCRIBED AS THE WEST 308.55 FEET
OF LOT 715, FIRST ADDITION TO NEWPORT MESA TRACT, AS SHOWN ON A MAP
THEREOF, RECORDED IN BOOK 8, PAGE 61, MISCELLANEOUS MAPS, RECORDS OF
SAID ORANGE COUNTY.
Except the North 235.66 feet thereof.
Also except the South 30.00 feet thereof.
EXHIBIT B
AFFORDABLE HOUSING AGREEMENT DATED FEBRUARY 1, 1991
GRANGE COAST nTLE
0�=o�8T63
TO BE RECORDED AND
WHEN RECORDED RETURN TO:
City of Newport Beach
City Clerk
3300 Newport Boulevard
P.O. Box 1768
Newport Beach, CA 92659-1768
F
qq ,00
C1
Recorded at the request of
ORANGE COAST TITLE CO.
M. AFEE 81°91
A.M.
Official Records
Orange County, California
% - e2• r7gRecorder
AFFORDABLE HOUSING AGREEMENT
RECEIVED
MA CM can
1;w Kr BEAD
I
THIS AGREEMENT is entered into this _ day of 199 L by and
between THE CITY OF NEWPORT BEACH, a municipal corporation and charter city,
(hereinafter "City") and NEWPORT HARBOR APARTMENTS II, a California general
partnership (hereinafter "Developer") and is made with reference to the following facts:
RECITALS
WHEREAS, Developer is the owner of that certain parcel of land described 'on
Exhibit "A" attached hereto and located in the City of Newport Beach (hereinafter the
"Property"); and
WfTEREAS, the City's Housing Element of the General Plan has established goals
and objectives pertaining to preserving and increasing rental housing opportunities for low-
income households; and
WHEREAS, on November 26, 1990, City approved Site Plan Review No. 60, the
Developer's request for a Density Bonus pursuant to Section 65915 of the California
Government Code, so as to construct an apartment complex with 14 units affordable to low -
income individuals or families; and
WHEREAS the City has granted Developer the sum of fifty thousand dollars
($50,000) of Community Development Block Grant funds to acquire an interest in the
Property so as to guarantee the affordability of the development for a
period, and City and Developer shall execute a thirty (30) year
grant deed in favor of the City granting a
Exhibit "B
Power of termination of Developer's interest in real property to be recorded against Property in the form attached hereto as g nst the
;" and
WHEREAS, Developer has received the sum of one hundred forty seven thou
five hundred seventy six dollars ($147,576.00) from N R sand
/ Marina Partners, a California
general partnership (hereinafter "N R"
/ ) as consideration for Developer's agreement to
adept the obligation of N/R to provide four two -bedroom affordable housin
established by Conditions of Approval for Coastal Residential Development g Units asNo. 18; and P t Permit (CItDp)
WHEREAS, City and Developer desire to enter into this Agreement establishing
certain criteria a related to a thirty (30) year period p of affordability,
tenancy, and rents within
this housing development; and
• WHEREAS, the parties, through this agreement, wish to establish
administration of the affordable housing condition of Site plan Re Procedures for the
Review No. 60 and CRDP
No. 18.
NOW, 'THEREFORE, in consideration of the mutual covenants,
conditions stated below, the promises and
Parties agree as follows:
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AGREEMENT'S
1. Developer, for itself and for its successors -in -interest and assigns, agrees to
provide within 3 years of approval of Site Plan Review No. 60, and maintain for a period
of thirty (30) years from the date of initial occupancy of the eighth unit, a 14 unit rental
apartment development consisting of 10 two -bedroom units and four "SRO style" efficiency
dwelling units affordable to and occupied by "low-income" individuals or families as that
term is herein defined, at "restricted rents," as that term is herein defined.
2. As used herein, for the 10 two bedroom units the term "low-income individuals
or families" shall mean an individual or individuals, or families, who possess an "active"
Section 8 Existing Rental Assistance Certificate or Voucher and currently receive rental
assistance or are eligible to receive rental assistance. The parties to this agreement and
their successors or assigns, shall select or develop a substitute income standard should the
Section 8 Existing Rental Assistance Certificate or Voucher programs be discontinued. For
the 4 efficiency dwelling units, the term "low-income individuals or families" shall mean an
individual only that has a maximum income at or below 30% of the Orange County median
income as established on the State of California's Section 6932 income limits table. Should
the calculation of Section 6932 income limits table be discontinued by the State, the parties
to this agreement and their successors and assigns shall select or develop a substitute income
standard. The occupancy of an efficiency unit is limited to one person in consideration for
reduced on -site parking.
3. As used herein, the term "restricted rents" shall mean the maximum rent which
may be charged and which may be adjusted from time to time by the Developer as provided
in this agreement. The maximum monthly rent which may be charged for the two -bedroom
-3-
units is the Section 8 Fair Market Rent (FMR) as established
by unit size and Published by
the Department of Housing and Urban Development (HUD). The two -bedroom rental ra
may be adjusted periodically to reflect published changes in the to
by HUD. The m Section 8 FMR as published
maximum monthly rent which may be charged for the effi'
units is 28.5% of the permitted m ciency dwelling
maximum income for an occupant of an efficien
es the cy unit
divided by 12. The efficiency dwelling unit rental rate may be adjusted periodical] to
reflect published thanin Y
g Orange County median income identified in No, 2 above.
However, rents may not be increased within 6 months of th
apartments nor ma a initial occupant, of the
Y the rents of individual tenants be increased within 6 month
occupancy occurring after the initial occu s of an
Pancy.
4• In consideration for Community m
Develo ent Block
P Grant funds, the
following shall apply to the calculation of the substitute income standard 2 above. d discussed in No.
a. For the 10 two -bedroom
units, the substitute income -standard shall
never exceed the Iower-income standard of eighty per (SO%
calculated by family) of the median income as
size for the Anaheim -Santa Ana SMSA (Orange County, Califo
as determined by the Secret �a)�
ary of the United States Department Development ( of Housing and Urban(,,HUD,,)in the "Revised Section 8 Income'
income maybe adjusted periodically Limits" published annually. The
p �y to reflect published changes in the HUD income limits
When no acceptable Section 8 Existing Rental assistance Certificate rt�ficate or Voucher holders are
available, the 10 two bedroom units may also be rented to individuals
incomes at or below the 80% HUD standard described and families with
above.
-4-
1
b. The maximum monthly rent for the two -bedroom units shall be the
Section 8 FMR described in No. 3 above.
C. The substitute income- standard for the efficiency dwelling units shall
never exceed 30% of the median income of the Anaheim -Santa Ana SMSA (Orange County,
California), as determined by the Secretary of the United States Department of HUD in the
"Revised Section 8 Income Limits."
d. The rent shall be calculated as described in No. 3 above for the
efficiency dwelling units using the HUD income.
e. At the request of the Developer and no more than once in any calendar
year, City shall reevaluate the substitute income and rent standards. In no event shall any
substitute income standard exceed the income limitations described above.
5. If HUD requires the repayment of funds utilized by City to acquire the power
of termination provided for in the Grant Deed, and the interest in real property described
in the Grant Deed is quitclaimed, this affordable agreement shall remain in full force and
effect but only as to two (2) of the efficiency units for which the Density Bonus was granted
pursuant to Section 65915 of the California Government Code and four (4) of the two -
bedroom units being provided as a condition of Coastal Residential Development Permit
No. 18 for which consideration was accepted, shall continue to be rented at restricted rents
to low-income families, as provided for above, for the balance of the thirty (30) year period
of affordability.
6. The Developer shall be responsible for ensuring that the "low-income"
individuals or families as defined herein, who rent a unit in the development covered by this
agreement, properly meet the income limits set forth herein. In order to ensure that the
-5-
individuals or families are properly qualified in t
the elms of income lUnits are selected is fair and
evel, and to ensure that
process by which the Occupants of the affordable
equitable, the Developer shall, at a minimum for the i
mtial occupancy, do the following.
a• Advise the orange
o f the
County Housing Authority, in writing,
availability of the affordable units and advertise the a _
least two se availability of affordable units on at
separate occasions in a newspaper of general circulation within n the County of
b• Allow at least 30 days for Y individuals or families to be assisted by the
Orange County Housing Authority or to apply with the Developer for re
Affordable Unit, and accept applications for occu an rental of an
after the Last date on which
P cy for a period of not less than 10 days
C. Develop the availability of the unit is
advertised;
for use a form that requires ,all
a determination q inf°rmation necessary to make
Of the total income earned by the individual ar indi
applying* The Developer shall investigate the facts and vtduals or families
applications submitted and/or take other a entations contained in all
confirm that those facts and represen ate action to attempt, in good faith, to
tations are accurate.
d• After an impartial screening of applicants, the developer shall acce t
Section 8 Existing Certificate holders without prejudice
P
J e.
7• When no acceptable Section 8 tenants are available, vacancies occurring
the initial occupancy maybe filled through a after
g method of razido�Yselecting qualified tenants
from a list of all known qualified prospective tenants that have expressed an interest in
months. All prospective tenants must be advised that
they must renew their interest after a period of 12 months.
-6-
I
8. In the event that an Affordable Unit is rented to an individual or family who
does not qualify under the terms of this Agreement, the Developer shall, within 90 days
from the date on which it learns of the failure of the individual or family to qualify, take all
legal actions necessary to replace the occupant or occupants of that unit with an individual,
individuals or a family who do qualify as provided in this Agreement.
9. The Developer shall require that any individual, individuals or family
occupying a unit in this development enter into a rental agreement which shall contain at
least the following terms:
a. The occupant or occupants of any unit shall be required, at least once
a year, to provide the Developer under the penalty of perjury with information regarding
the total income of the occupants, to determine if the individual or family still qualifies for
occupancy as set forth herein. When requalifying tenants, the income received during the
immediately prior calendar year shall be used and be reported by using the form developed
to satisfy 6.c above. This information shall also be provided to the City on an annual basis;
and
b. A provision that gives the Developer the right, in the event of a
material misrepresentation made by an individual, individuals or family with respect to
income, or in the event the individual or family no longer qualifies, as provided in this
Agreement, to terminate the tenancy upon 30 days written notice.
10. Developer understands that the Davis -Bacon regulations, as set forth in
Section 110 of the Housing and Community Development Act of 1974, may be applicable.
If applicable, Developer agrees to fully comply, at its sole cost, with the Davis -Bacon
regulations.
-7-
11. The parties agree that any breach of this Agreement by the Developer shall
cause irreparable injury to the City of Newport Beach and that monetary damages, or any
other legal remedy, would be inadequate to remedy such a breach. The parties further
agree that the City, in the event of a breach of the Agreement by the Developer, is entitled
to obtain an Order of the Superior Court requiring the Developer to specifically perform
in accordance with this Agreement, and that the City would be entitled to interim injunctive
relief pending the issuance of such an Order. In the event the City is required to enforce
the terms and conditions of this Agreement, the City shall be entitled to recover reasonable
attorney's fees and costs incurred in conjunction with such litigation. The City and
Developer agree that the terms of this Paragraph No. 11 are in addition to all rights and
remedies set forth in the grant deed attached hereto as Exhibit T."
12. Notices required or permitted hereunder shall be sufficiently given if made in
writing and delivered either personally or by registered or certified mail, postage prepaid,
to the following addresses, or to such other address as may be designated for formal notice:
City of Newport Beach
City Manager
P.O. Box 1768
Newport Beach, CA 92658-8915
Newport Harbor Apartments 11
c/o Mesa Development Co.
2925 College Ave., A-3
Costa Mesa, CA 92626
13. This Agreement shall be binding upon and inure to the benefit of the parties
and their respective successors and assigns, and shall be recorded in the County Recorder's
Office, Orange County, California.
14. No change in or addition to this Agreement or any part hereof shall be valid
sinless in writing and signed by or on behalf of the parties hereto.
15. If any portion of this Agreement is held by a court or arbitrator of competent
jurisdiction to be invalid, void and unenforceable, the remainder of the provisions hereof
shall remain in full force and effect and shall in no way be affected, impaired or invalidated.
16. This Agreement constitutes the entire understanding between the parties with
respect to the subject matter hereof, superseding all negotiations, prior discussions and
preliminary agreements or understandings, written or oral.
17. This Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of California, and the Developer shall, in the
performance of its duties under this Agreement, comply with all applicable Federal, State i
and local fair Housing Laws.
18. The parties shall each execute and deliver or cause to be executed and
delivered such further instruments and documents and shall take such other action as may
be reasonably required to more effectively carry out the intent and purpose of this
Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement on the day and
year first above written.
CITY OF NEWPORT BEACH
By
Mayor
ATTEST:
APPROVEDCity Clerk
�M
•
Cit� Attorney
NEWPORT HARBOR IT APARTMENTS
A General Partnership
Bres G. Whi e r.
f
By -z
Cl:�ftwrence Campeau
By
Wayne Fraser
1M\AN-AG REF.\NLWP-HARII
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The land referred to in this document is situated in the State of California, County of
Orange, City of Newport Beach, commonly known as 1530 Placentia Avenue and described
as the West 30855 feet of Lot 715, First Addition to Newport Mesa Tract, in the County
of Orange, as per map recorded in Book 8 Page 61 of Miscellaneous Maps, in the office of
the County Recorder of said County.
Except the North 235.66 feet thereof.
Also except the South 30.00 feet thereof.
-11-
Exhibit "A" to the Affordable Agreement
t � �
EXHIBIT "A"
That property located in Newport Beach, California, known
as Lot 3 of Tract No. 14025 recorded as Instrument #90-106036
on February 28, 1990, in the City of Newport Beach, County of
Orange, State of California, recorded in Book 657, pages 9-15
of Miscellaneous Maps. Recorded in the office of the County
Recorder of Orange County, CA.
CITY OF NEWPORT BEACH
BY _
Mayor
ATTEST:
STATE OF MIFOMA
Orange �
COUM OF
in the year 1991 , before me the undersigned a
On this 4th _day of February Notary Public in and for said State, personally appeared Phil Sansone known
known to
to me to be the Mayor of the City of Newport Beach and Wanda F Raggio
me to be the City Clerk of the City of Newport Beach and known to me to be the
persons
who executed the within instrument on behalf of said governmental agency, a
nd
acknowledged to me that such governmental agency executed the same.
WITNESS my hand and official seal.
No y Public in and for said State.
�d
.° OFFICIAL SEAL
DOROTHY 1. PALEN
NOTAR7 FU LIC - CALIFORNIA
." ORANGE COUNTY
My Comm. Exolres May 25.1993
wu.,1y VI )
On this I�� day of Fp-li9GIAl,I,;/)_t/I , in the year 19 "1► , before me, �
q Notary Public in and for the said State, residing therein, duly eommissioneo and swgrn�personally ppe d
Illln, IP (,1/ /ilr1li01ni's H/1 ( '12JAA rVi� II A A . (.l,f/1(� I i1J1lIAD �I%---
personally known to me ( to be the person(s):
t L-i I N DT7tDt'At) Whose name is subscribed to this instrument. and acknowledged that he (she or
they) executed it.
4LGO&PC1k3AU9Al)~ Who executed the within instrument as president and sec-
retary, on behalf of the corporation therein named, and acknowledged to me
that such corporation executed the within instrument pursuant to its articles and
by-laws and a resolution of its Board of Directors.
(Q PARTNERSHIP) That L1/ executed the within instrument on behalf of the partnership,
and acknowledged to me that the partnership executed it.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, in and for said State, the day and year first
v-wriftn
a o b e
.
I cs S_; OFFICIAL SEAL
ti t; DENISE L. HOOD
Notary Publ,c-Gautprnia
t;'fjy ORANGE COUNTY
r ,
•
My Comm Exp Aug. 3C. 1991
Ptlbhc in and for said State of California
My commission expires: n u�tLy� �i„f 1 LI
EXHIBIT C
GRANT DEED RECORDED IN THE OFFICE OF THE COUNTY RECORDER IN THE
OFFICIAL RECORDS OF ORANGE COUNTY AS INSTRUMENT NUMBER 87-643418
87-643418
WHEN RECOPMED MAIL TO:
City of Newport Beach EnE17Ii i
3303 Newport Boulevard
Newport Beach, CA 92663
Att`ntion: James D. Hewicker, Planning Direrror
MAI1, TAX STATt:Mt:NI'S '110 ADDRESS ABOVE
14 S 'f, 4 f. - :6
(Space above line for Recorder's use)
Recorded at rile request of
nRST AIMER, TITLE 11S. Cq.
6.00 NOV 161987
A.M.
Official Records
orange County. Calli/ifomia
DOCUMENTARY '.[ ANSFER TAX $ Exempt
( } Computed on the consideration or
value of property conveyed; or
( ) Computed on the consideration or
value less liens and encumbrances
remaining at time of sale.
( ) Unincorporated area:
(X) City of Newport Beach
G R A N T D E E D
For valuable consideration in the form of the payment to Grantor
of three hundred fifty thousand dollars ($350,000) of Community Development
Block Grant Funds from the U. S. Department of Housing and Urban Develop-
ment, the receipt (and sufficiency) of which is hereby acknowledged,
NEWPORT HARBOR APARTMENTS, a Ge;teral Partnership (hereinafter the "Gran -
for";, grants to the CITY OF NEWPORT BEACH, a California Municipal Corpora-
tion (hereinafter the "Grantee"), a power to terminate the interest. cf
Grantor in that certain parcel of real property described on EXHIBIT "A"
attached hereto, exercisable upon and subject to the following terms and
conditions:
Exhibit "B" to the Affordable Agreement - 1
i
i
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I. The power of termination can only be exercised upon the
occurrence oi• the following condition subsequent:
In the event that, following completion and construction of twen-
ty-one (21) two -bedroom rental units and five (5) three -bedroom rental
units on the subject property and issuance of Certificates of Occupan-
cy therefore, and thereafter for a period of thirty (30) years from
the date on which the first fovrteen (14) of the rental units are oc-
cupied, Grantor fails to make said twenty-six (26) rental units
available for rent to "lower -income families" as that term is herein
defined and at "restricted rents," as that term is herein defined. As
used herein, the term "lower -income families" shall mean an individual
or individuals, or families, who possess an "active" Section a
Existing Rental Assistance Certificate or Voucher, and currently
receive rental assistance or are eligible to receive rental assis-
tance. The parties to this agreement and their successors or assigns.
shall select or develop a substitute income standard should the
Section 8 Existing Rental Assistance Certificate or Voucher programs
be discontinued. As used herein, the term "Restricted Rents" shall
mean the maximum rent which may be charged and which may be adjusted
from time to time by the Grantor. The maximum monthly rent which may
be charged for the 26 units is the Section 8 Fair Market Rent (FMR) as
established by unit size and published by the Department of Housing
and Urban Development (HUD). The rental rates may be adjusted
periodically to reflect published changes in the Section 8 FMR as
I
published by HUD. However, rents may not,. be increased within 6 months
of the initial occupanc.1 of the apartments nor may the rents of
Exhibit "B" to the Affordable Agreement - 2
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87-643418
individual tenants be increased within 6 months. of an occupancy
occurring after the initial occupancy. Because of the use of Com-
munity Development Block Grant funds, the Gubstitute income standard
discussed above shall never exceed the lower income standard of eighty
percent (80%) of the nwdian income as calculated for a family of four
in the Anaheim -Santa Ana SMSA (Orange County, California), as deter-
mined by the Secretary of the United States Department of Housing and
Urban Development ("HUD") in the "Revised Section 8 Income Limits"
published annually. The maximum monthly rent shall be based on the
substitute income and never exceed 30% of that income divided by 12,
nor ever exceed 30% of the HUD lower -income (80%) standard divided by
12 ((maximum annual income x .30)/121. The income and rental rates
may be adjusted periodically to reflect published changes in the HUD
area median income. When no acceptable Section 8 Existing Rental
Assistance Certificate or Voucher holders are available, the 26 units
may also be rented to individuals and families at or below the 80% HUD
standard described above. The rent shall never exceed 30b of that
standard as also described above.
II. This pcuer of termination shall be SUBJECT To the following
terms and conditions:
1. Nothing herein shall be interpreted to prohibit
occupancy of any two -bedroom unit constructed on the Subject Property by
fewer than a four -person household or of any three -bedroom unit con-
sZ:ruL:ted on the Subject Property by fewer than a six -person household.
Exhibit "B" to the Affordable Agreement - 3
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87-643418
2. Grantee agrees that upon written request of Grantor
following satisfaction of the Condition specified in I. above, Grantee
shall record a quitclaim deed in a form a1iich is customary at such time and
is acceptable at such time to the Orange County Recorder, in which Grantee
shall release and forever quitclaim any interest it holds in the Subject
property.
3. The Condition specified in I. above shall also be
considered a covenant of Grantor. Grantee, its successors or assigns may,
in addition to the power to terminate the estate of Grantor as provided
herein, seek any remedy available at law or in equity for Grantor's breach
thereof including, without limitation, the right to seek specific perfor-
mance or enjoin the continuance of the breach of any such covenants or
restrictions on use. It is specifically understood that any of the
foregoing remedies may be employed at the option of Grantee, its successors
and assigns, and thp failure of Grantee to employ any such remedies shall
not be a waiver of the right to employ such remedies upon the continuance
of any such occurrences or any subsequent occurrence.
4. It the event Grantee determines that Grantor, its
successors or assigns has violated any restriction or covenant contained
herein, Grantee shall promptly send written notice of such violation to
Grantor, its successors or assigns. Grantor, its successors or assigns
shall have sixty (60) days from receipt of such notice to commence curing
any noticed violation, or to seek a judicial determination by way of an
action for declaratory relief that Grantor is not in violation hereof,
before Grantee may comoen=e any action to enforce any restrictions or
covenant contained herein, including any action to terminate Grantor's
Exhibit "B" to the Affordable Agreement - 4
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87-643418
estate in the Subject Property. In the event and only in the event that
Grantor, its successors and assigns do not commence correction and,
thereafter diligently pursue correction, of any noticed violation within
sixty (60) days after the later to occur of (i) receipt of such notice or
entry of a final declaratory judgment that Grantor is in violation
hereof, Grantee may commence an action at law or in equity to compel
compliance with such restrictions or covenants and/or exercise its power of
termination. In the event Grantcr cures or corrects the violation, the
term of affordability shall be extended by the time Grantor was in viola-
tion of the covenants and restrictions. Grantee hereby covenants on behalf
of itself and any successors in interest herein and in the Subject. Property
that, in the event Grantee exercises its power of termination hereunder,
Grantee and its successors and assigns thereafter shall reconvey title to
the Subject Property to Grantor by quitclaim deed, subject only to the same
conditions, restrictions, exceptions to title as may have existed at the
time of exercise of the power of termination, upon (i) the expiration of
the thirty (30) year period specified in Condition I. above, for twenty-six
(26) rental units to be available for occuparicy by "lower -income families"
plus the time from the Notice of Violation to the exercise of the Power of
i
Termination, and (ii) the tender to Grantee, or its successors or assigns,
of an amount equal to al) costs, plus interest thereon at the rate of 10%
per annum, incurred by Grantee, or its successors or assigns related to the
exercise of the Power of Termination and Ownership, operation and rrain-
tenance of the Subject Property, which costs are in excess of revenues
received by Grantee, or its successors or assigns, from the Subject
Property.
Exhibit "B" to the Affordable Agreement - 5
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5. Grantor and Grantee acknowledge that any funds paid by
Grantee to Grantor for the purpose of this power of termination shall have
been received by Grantee from HUD and that such H'Jl7 funding is conditioned
upon compliance by Grantor and Grantee with all applicable Federal, state
and local statutes and regulations restricting the uses of su:h funds. In
the event that prior to satisfaction of Condition I. above, HUD requires
repayment of funds utilized by Grantee to acquire this power of termina-
tion, Grantor will refund to Grantee any funds it has received from Grantee
that are so required by HUD to be refunded and Grantee shall execute a
quitclaim deed in a form which .is customary at such time and is acceptable
at such time to the Orange County Recorder, in which Grantee shall release
and forever quitclaim any interest it holds in the Subject Property to
Grantor. In the event that HUD requires the repayment of funds utilized by
Grantee to acquire this power of termination, the 9 units for which the
Density Bonus was granted pursuant to Section G5915 of the California
Government Code shall be rented at restricted rents as provided for in
Section 65915 of the California Government Code for the balance of the
thirty (30) year period of affordability.
6. Grantor and Grantee recognize the reasonableness of the
foregoing covenants, conditions and restrictions on use, which recognition
and covenants, conditions and restrictions shall be binding on Grantor's
and Grantee's respective successors and assigns.
7. If any term, provision, condition or covenant of this
Deed or the application thereof to any party or circumstances shall, to any
extent, be held invalid or unenforceable, the remainder of this Deed or the
application of such term, provision, condition or covenant to xersons or
Exhibit "B" to the Affordable Agreement - 6
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87-64 3418
unenforceable shall not be affected thereby, and each term and provisior of
this Deed shall be valid and enforceable to the fullest extent permitted by
1dW.
CITY OF NEWPORT BEACH
A
By
City Clerk /
APPROVED AS TO FORM: c�G_F0�'R
City Attorney
NEWPORT HARBOR APARTMENT'S
A General Partners 'p
�ames WhIlt4i
} r. ,
once Ca a
M w«�
By7,
Wayn Fraser `
C:\CTB\GRANYDED.NHA
Exhibit "B" to the Affordable Agreement - 7
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Doc: 1987-643418 DED 11-16-1987
STATE Of fJILIFORIIIA, — ----- i oT-6434 1 8
Orange 4 ss
On this �C% day of � _ t �. 1n the year' % f re me the ndersigned a
Notary Public in and for said State, personally appeared _ w.(" �r known ;I
j to me to be the Mayor of the City of Newport Beach and (4��_fz+c 4, , known to
me to be the City Clerk of the City of Newport Beach and known to me t e the persons
!I who executed the within instrument on behalf of said governmental agency, and
acknowledged to me that such governmental agency executed the same.
fl 'dITNESS my hand and official seal.
OFFICIAL SEk C
- E
DC)ROTHY L. PALEN
NOTARY PUBLIC • CALI$URNIA
FRI
NCiPAL OFFICE IN
ORANGE COUNTY
MoVry m and fa said SUte. M1 GrIfrailoa f1 Early. AR. S, 1M
STATE OF CALlronNIA ',ss
1 coUN ry 6F Orange
E
or. October 14, 1987 h••h r. ,.., ,In ,,•,,,,;-.,d allotur lruhh, .r, .vd ur
U said st:de Pe'sonally apw.wed Jams G. Wt ite, Jr., Lawrence C. Campeau,
and Wayne Fraser
Y •
C
E
E
6
p1•rSUn,111y HnOwn to •ne �.lr prUvnd lu me un tn1• U:1 , of SHUN
Vl
f.lrtory ev dencel IC bl• Ihn person ihal 1•.1 the wdh:n � OFFICIAL SEAL
a nsdumanl as partnerim. ���� NORITA CIROU
•yi:•. 1101AHr 1•;r lll.l: I Alll ,lNhtA
on bnhall 01 Newport Harbor Apartments rumrllAL •n11:L In
Ihr• p.11 i111!rSh�I)
OHAfJGE CVUNTy
My commisslo,l f 1; "ues A _til 12, 1988
n thmwa named and aci,n0A:rdyor) to Ina Ihal the Partnnrsn�p
m ,,ecuh•d d
n WITNCSS my honJ and olhual sent
�junlrtur.• .. � _ �/ _ _ r� I Ih•s ., 11•.1 IUr I.11„ ,al nnt.,r l,ll ♦ral
Non-Order Search Page 22 of 33 Requested By: Jill Wright , Printed: 4/9/2021 8:17 AM
Doc: 1987-643418 DED 11-16-1987
B7-6430 8
The land referred to in this document is situated in the State of Califor-
nia, County of Orange, City of Newport Beach, commonly known as 1538
Placentia Avenue and described as the South 128.66 feet of the North 235.66
feet of the West 308.55 feet of Lot 715, First Addition to Newport Mesa
Tract, as shown on a map thereof, recorded in book. 8, page 61, Miscel-
lF.neous Maps, records of said Orange County, the East line of said parcel
tieing parallel with and 338.55 feet East of the center line of Placentia
Avenue.
Exhibit "A°' to the Grant Deed - 1
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Doc:1987-643418 DED 11-16-1987
87-643418
This is to certify that the interest in real erooert:v rnnvPvr--ct by the
affordable housing agreement and grant deed dated October 22, 1987, from
Newport Harbor Apartments, a General Partnership, to the City of Newport
Beach, a Municipal Corporation and Charter City, is hereby accepted by
order of the City Council on July 27, 1987, :and by the undersigned officer
on behalf of the City Council pursuant to authority conferred by Resolution
6773 of the City Council adopted on May 13, 1968, and the grantee consents
to recordation thereof by its duly authorized officer.
Dated October_, 1987,
By
Robert L. Wynn
City Manager
I
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Doc: 1987-643418 DED 11-16-1987
I
8?-643418
STATE OF CALIFORNIA )
) ss.
COUNTY OF ORANGE )
On this 22nd day of October, 1987, before me, the
undersigned, a Notary Public In and for said State, personally
appeared Robert L. Wynn, personally known to me (or proved to me
on the basis of satisfactory evidence) to be the City Manager of
the City of Newport Beach and known to me to be the person who
executed the within instrument on behalf of said governmental
agency, and acknowledged to me that such governmental agency
executed the same.
OFFICIAL SEAL
MAOREEN L HUFFMAN
NOTACY PUBLIC - CALIFORNIA
y ORANGE COUNTY
:;rn tlOY 3 ]3A3! Notary Public
V�
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Doc: 1987-643418 DIED 11-16-1987
EXHIBIT D
GRANT DEED RECORDED IN THE OFFICE OF THE COUNTY RECORDER IN THE
OFFICIAL RECORDS OF ORANGE COUNTY AS INSTRUMENT NUMBER 94-0474084
Order No. M35201-3
Escrow No. 10076AB/M
Loan No.
WHEN RECORDED MAIL TO:
DRC Invesurents
Capilouto Inc.
3293 Moritz Drive
Huntington Beech, CA 92749
Dios # 94-0474084
27-3UL-1994 03 = 37 PM
Recorded in Official Records
of Oranse County, California
Lee A. Branch, County Recorder
Pass 1 of 7 Fees: f $4,00
Taxt f 1,166.00
sRuce ABOVE TH38 UNE FOR RR•s use
MAIL TAX STATEMENTS TO:
DOCUMENTARY TRANSFER TAX i.... .......all
................ Fialil9 88 above $...... Computed on the fwrrsldwetlon Or value of Property conveyed; OR
RECORDING REQUESTED IN CO ftputW on me 00r4jfta M Of vsko Im IWM or wlwrftmncm
APN ORANGE COAST TITLE CIL ^tee at tmw of ea1e.
LA. SUBDIVISION DEn 7HR MOBa
GRANT DEED
FOR A VALUABLE CONSIDERATION, rece(pt of whIch Is hereby acknowiedA9d,
Newport Harbor Apartm nt, I1, a California General Partnership
hereby GRANT(S) to
MC Investments, Inc., a California Corporation as to an undivided 502 interest and
Capilouto Inc., a California Corporation, as to an undivided 502-interest
the real property In the City Of
County of Orange Newport Beach
State of CeliiwnL% desalbed as
11
The West 308.55 feet of Lot 715, First Addition to Newport Mesa Tract as per map recorded 1
0 book 8, page 61 of Misc. Maps in the office of the County Recorder of Orange County, State
California. EXCEPT the North 235.66 feet thereof. ALSO EKCFPr the South 30.00 feet thereof.
Dated
Mraft ,
STATE OF CAUFORNrA )
COUNTY OF Orange
On June 16, 1994 beftn nwk
Pwswb ePPww Larry Campeau
pwwn* known to me (of pfovrd to me as fhe Cob W uobta W
*VkW0)t0b*Vwp*w(s)whoaendsrj&h)bareWAM0 WtothewkNn
WOnarbrd and edmw Wgod to mt fhat h&W*Mwy Ow ttd the wrw
b h *Ihllr a galmd ), end hurt by hb WMW tt()nt-
WWI) - the Yw Am wd (y or fhe upon bow of wtrioh
the txrtanp) nee
WTFN B$
Newport Harbor Apartment. II. a Cnlifnrni.
tmh W" fa oftow noww @am
uwu r...— - ---- -
d
a
r
swam OF OaLlr4mmis )
comma OF Orange )
on June 16, 1994 before se, Brian Fdscroft ,
personally appeared Laerence K. Ca�eau
personally known to ao (or proved to u on the basis of satisfaatory evidence,
to be the parson(s) whose nans(s) is/ese subscribed to the within instrnaant
and acimonledged to as that he/she/tbsy ezeauted the sass in his/her/their
authorised capacity(iea), and that by hia/her/their signature(s) on the instsn-
snout the persoa(s) org�yy ty upoo behalf of abioh the persons) coked,
ezeauted the instrnerini. / \
9i xmmuss my
BRMN PDXCROF1
��k-Caqo�jo
COUNTY
GOVERNMENT CODE 27361.7
1 CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE DOCUMENT TO
CH THIS STATEMENT I8 ATTACHED READMS FOLLOWS:
E OF THE NOTARY:
DATE COMMISSION EXPIRES: 7
COUNTY WHERE BOND 18 FILED:
OOMMISSION NO.: 71
MANUFACTURER/VENDOR NO.:
PLACE OF EXECUTION: DATE:
SIGNATURE: -_-- -- --
Fwm Na oar.se
r„
COMM Or
on 192 1. 1994 before me, Brian Fosxroft
Personally appeared _ Jswes 6. Wdte. Jr. '
personally known to se (or proved to me on the basis of satisfactory evidence
to be the person(*) whose uaae(e) is/are subscribed to the within iustrussnt
and acknowledged to me that he/she/they executed the same in his/her/their
authorised capacity(ies), and that by his/her/their signature(s) on the iustwu-
.lent the persona) or City upon behalf of which the person(.) acted,
executed the inn t
ifITl�88 mY� o i_ _
F 8MANFoxCR
COMK •969871
QypL*Xicfiald0mla
� m>s�a1. t997
GOVERNMENT CODE 27M.7
RTIFI CH T UNDER PENALTY OF PERJURY THAT' THE NOTARY SEAL ON THE DOCUMENT Tt�
CH THIS STATEMENT IS ED READS AS
NA E OF THE NOTARY: �S'
)ATE COMMISSION EXPIRES: ^
)OUNTY WHERE BOND IS FILEC).
X)MMISSION NO.: 'E
IANUFACTURER/VENDOR NO.:
LACE OF EXE ON:
IGNATURE: _!� �_ DATE:ai�d
Form No, 0=6b
)
Oounn QT --- Qtanite )
on Jnly 18..1294 before may, Br&M F=Croft
Personally appeared Wayne A. Fraser
,
personally known to as (or proved to ass on the basis of satisfactory evidence
to bo the persoa(s) whose naa(s) is/are subscribed to the within iastraumt
and acknowledged to me that he/she/they executed the ease in his/her/their
authorised capacity(ies), and that by his/her/their signatures) on the instra-
aunt the person(@) or t"tity upon behalf of which the person(s) acted,
executed the
w12"Im
CoMmml
VdARCaftmia
COIJkIV
a RNMENT CODE 27W.7
1 ERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE DOCUMENT TO
ICH THIS STATEMENT IS ATTA READS AS FOLLOWS:
NAME OF THE NOTARY:
DATE COMMISSION EXPIRES: �3—&
COUNTY WHERE BOND IS FILED:
COMMISSION NO:
MANUFACTURER/VENDOR NO:
PLACE OF EXECUTION:: 7
SIGNATURE:
ORANGE COMPANY Form Na =43b