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Home My WebLink AboutC-7241-13 - Beacon Bay, 7 - Acknowledgement of Waterfront Hazards and Waiver of Claims 20244/11/24, 12:03 PM Batch 17275932 Confirmation RECORDATION REQUESTED BY AND WHEN RECORDED, RETURN TO: James and Elizabeth Irwin 7 Beacon Bay Newport Beach, CA 92660 WITH A COPY TO: City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658 Attention: City Clerk's Office Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder II I II III I III II II 11111 III 1111 NO FEE *$ R 0 0 1 4 8 8 8 9 5 8 $ * 202400009047811:59 am 04/11/24 90 CRSCo6 W01 4 0.00 0.00 0.00 0.00 9.00 0.00 0.000.000.00 0.00 (Exempt From Recording Fees Pursuant to Government Code § 27383) APN: 050 221 11 [Space Above For Recorder's Use Only] ACKNOWLEDGEMENTOF WATERFRONT HAZARDS AND WAIVER OF CLAIMS (7 Beacon Bay, Newport Beach, California) (Coastal Development Permit) This Acknowledgement of Waterf; nt�iazards and Waiver of Claims ("Acknowledgment and Waiver") is made- this day of ��, 2024 by Tradition Asset Management, LLC, a California limited liability company ("Lessee"). On June 10, 2022, City and Lessee entered into a lease for the lot commonly known as 7 Beacon. Bay, in the City of Newport Beach, County of Orange, State of California, County Assessor's Parcel Number 050-221-11, as more fully described in the legal description attached hereto as Exhibit A and incorporated herein by reference ("Property"), and as evidenced by a Memorandum of Lease recorded with the Orange County Recorder's Office as Instrument Number 2022000211164. On January 24, 2024, Coastal Development Permit (PA2023- 0123) was conditionally approved for the Property ("CDP"). In exchange for City issuing the CDP, Lessee hereby acknowledges and assumes all risk of injury or damage that may arise from or in any way relate to existing conditions and hazards on the Property as well as any and all future conditions and hazards that develop on the Property including, but not limited to, conditions and hazards arising from or relating to waves, erosion, storm conditions, landslides, seismic activity, bluff retreat, flooding, soil conditions, groundwater, sea level rise, and/or other natural events. Hereinafter, existing and future conditions/hazards are collectively referred to as "Hazards." Lessee hereby unconditionally waives any claims of damage against City from the Hazards, and agrees to indemnify, with counsel selected by the City, and hold -harmless City, its City Council, its boards, commissions, and committees officials, officers, employees, volunteers, and agents from and against any and all claims, demands, obligations, damages, actions, causes of action, suits, losses, judgments, fines, penalties, liabilities, costs and expenses (including without limitation, attorney's fees, disbursements and court costs) of https://gs.secure-erds.com/Batch/Confirmation/l7275932 18/21 RECORDATION REQUESTED BY AND WHEN RECORDED, RETURN TO: James and Elizabeth Irwin 7 Beacon Bay Newport Beach, CA 92660 WITH A COPY TO: City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658 Attention: City Clerk's Office (Exempt From Recording Fees Pursuant to Government Code § 27383) APN: 050 221 11 [Space Above For Recorder's Use Only] ACKNOWLEDGEMENT OF WATERFRONT HAZARDS AND WAIVER OF CLAIMS (7 Beacon Bay, Newport Beach, California) (Coastal Development Permit) This Acknowledgement of Waterfront. f.i,�Iazards and Waiver of Claims ("Acknowledgment and Waiver") is made this o day of tjo--VL, 2024 by Tradition Asset Management, LLC, a California limited liability company ("Lessee"). On June 10, 2022, City and Lessee entered into a lease for the lot commonly known as 7 Beacon Bay, in the City of Newport Beach, County of Orange, State of California, County Assessor's Parcel Number 050-221-11, as more fully described in the legal description attached hereto as Exhibit A and incorporated herein by reference ("Property"), and as evidenced by a Memorandum of Lease recorded with the Orange County Recorder's Office as Instrument Number 2022000211164. On January 24, 2024, Coastal Development Permit (PA2023- 0123) was conditionally approved for the Property ("CDP"). In exchange for City issuing the CDP, Lessee hereby acknowledges and assumes all risk of injury or damage that may arise from or in any way relate to existing conditions and hazards on the Property as well as any and all future conditions and hazards that develop on the Property including, but not limited to, conditions and hazards arising from or relating to waves, erosion, storm conditions, landslides, seismic activity, bluff retreat, flooding, soil conditions, groundwater, sea level rise, and/or other natural events. Hereinafter, existing and future conditions/hazards are collectively referred to as "Hazards." Lessee hereby unconditionally waives any claims of damage against City from the Hazards, and agrees to indemnify, with counsel selected by the City, and hold harmless City, its City Council, its boards, commissions, and committees officials, officers, employees, volunteers, and agents from and against any and all claims, demands, obligations, damages, actions, causes of action, suits, losses, judgments, fines, penalties, liabilities, costs and expenses (including without limitation, attorney's fees, disbursements and court costs) of every kind and nature whatsoever which may arise from or in any manner relate (directly or indirectly) to the Hazards and/or City's approval of the CDP. This Acknowledgment and Waiver is intended to benefit the City, and may be enforced by the City. This Acknowledgment and Waiver shall remain in full force and effect from execution thereof unless revoked or terminated with the prior written consent of the City; shall run with the land, be binding upon the heirs, successors, and assigns of Lessee's interest in the land, whether fee or otherwise; and shall be recorded in the Office of the County Recorder of Orange County, California. have caused this Acknowledgment and Waiver to be executed on the dates written below. LESSEE(S): Tradition Asset Management, LLC, a California limited liability company Date: By: James J: I in, Mana er Date: q l Elizabeth A. Irwin, Manager [END OF SIGNATURES] Lessee's must sign in the presence of notary public ATTACHMENTS: Exhibit A — Legal Description Acknowledgment and Waiver of Waterfront Hazards Page 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 } ss. On 01- 20 L4( before me, _ L� i Notary Public, personally appeared who proved to me on the basis of satisfactory evidence to be the person("hose name(&) is/afe subscribed to the within instrument and acknowledged to me that 13,e/she/they executed the same in hj'a/her/their authorized capacity(, and that by his/her/their signatures(s� on the instrument the person(W, or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the la s, of the- t e o al f KD a that the foregoing is true and correct. =E EVELIN TAR10 9 g COMM. #2441048 z W Notary Public . California o WITNESS my hand and official seal. Z .. Riverside County My Comm. Expires Mar. 11, 2027 ignature (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 } ss. On , 20 G` before me, ,t--- �� ,� �,," D Notary Public, personally appeared ,TA -,A L-S mow/ N , proved to me on the basis of satisfactory evidence to be the person(sl whose name(s.)-is/are subscribed to the within instrument and acknowledged to me that he/she4tey executed the same in hisLher/their authorized capacity(ie5), and that by his/h,Wthoir signatures(s) on the instrument the person(sr)-, 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 Sta foregoing paragraph is true and correct. WITNESS my hand and off�.ci eal. z �-- d �iz'i✓` Signature (seal) EVELIN TARIO d COMM. #2441048 z Notary Public - California � Riverside County o .11, 2027 f Acknowledgment and Waiver of Waterfront Hazards Page 3 EXHIBIT A LEGAL DESCRIPTION That certain real property located in the City of Newport Beach, County of Orange, California, described as follows: Lot 7 as shown on the map filed in Book 9, Pages 42 and 43 of Record of Surveys in the Office of the County Recorder, County of Orange, State of California. Acknowledgment and Waiver of Waterfront Hazards Page A-1