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Home My WebLink AboutC-6377(F) - Affordable Housing Agreement and Joint Escrow Instructions Assignment and Assumption AgreementNewport Veterans Housing, LP C/O: Community Development Partners 3416 Via Oporto, Suite 301 Newport Beach, CA 92663 Mercy House Living Centers P.O. Box: 1905 Santa Ana, CA 92702 Exempt from recording fees pursuant to Govt. Code section 27383 toj llv Assessor's Parcel Number(s): 045-114-15 Recorded in Official Records, Change County Hugh Nguyen, Clerk -Recorder IIIAIIII1I11IIIIIIAIIIAIIIAVIIIVIIIVIIIVIIIVIIIVIIIIIIIIIIII111I NO FEE *$ R 0 0 0 8 0 4 3 9 5 6$ 2015000645084 4:20 pm 12(22115 232 407 Al2 A30 A38 F15 9 0.00 0.00 0.00 0.00 24.00 0,00 0.00 0.00 Line For Recorder's Use Only AFFORDABLE HOUSING AGREEMENT AND JOINT ESCROW INSTRUCTIONS ASSIGNMENT AND ASSUMPTION AGREEMENT Commonwealth Land Title Company RECORDING REQUESTED BY \^ AND WHEN RECORDED MAIL TO: I r City of Newport Beach Attn: City Manager 100 Civic Center Drive P.O. Box 1768 Newport Beach, CA 92660 v WITH CONFORMED COPIES TO: City of Newport Beach Attn: Community Development Director 100 Civic Center Drive P.O. Box: 1768 Newport Beach, CA 92660 Newport Veterans Housing, LP C/O: Community Development Partners 3416 Via Oporto, Suite 301 Newport Beach, CA 92663 Mercy House Living Centers P.O. Box: 1905 Santa Ana, CA 92702 Exempt from recording fees pursuant to Govt. Code section 27383 toj llv Assessor's Parcel Number(s): 045-114-15 Recorded in Official Records, Change County Hugh Nguyen, Clerk -Recorder IIIAIIII1I11IIIIIIAIIIAIIIAVIIIVIIIVIIIVIIIVIIIVIIIIIIIIIIII111I NO FEE *$ R 0 0 0 8 0 4 3 9 5 6$ 2015000645084 4:20 pm 12(22115 232 407 Al2 A30 A38 F15 9 0.00 0.00 0.00 0.00 24.00 0,00 0.00 0.00 Line For Recorder's Use Only AFFORDABLE HOUSING AGREEMENT AND JOINT ESCROW INSTRUCTIONS ASSIGNMENT AND ASSUMPTION AGREEMENT AFFORDABLE HOUSING AGREEMENT AND JOINT ESCROW INSTRUCTIONS ASSIGNMENT AND ASSUMPTION AGREEMENT This ASSIGNMENT AND ASSUMPTION AGREEMENT ("Agreement") is made and entered into on this V day of December, 2015 ( "Effective Date"), by and between Community Development Partners, Inc., a California corporation ("Assignor") and Newport Veterans Housing LP, a California limited partnership ("Assignee"). Assignor and Assignee, individually referred to herein as a "Party," and collectively referred to herein as the "Parties," hereby agree as follows: RECITALS A. Assignor entered into that certain Affordable Housing Agreement and Joint Escrow Instructions with the City of Newport Beach, a California municipal corporation and charter city ("City'l on December 14, 2015 ("AHA"), pursuant to which Assignor agreed to acquire, rehabilitate and operate as an affordable housing development a twelve (12) residential unit existing development within the boundaries of the City ("Project's and City agreed to make a loan to Assignor in the amount of One Million Nine Hundred Seventy Five Thousand and 00/100 Dollars ($1,975,000.00) ("Loan') to assist in financing the acquisition of the Project, all as more specifically described in the AHA. B. Assignor serves as Administrative General Partner of Assignee and wishes to transfer all of its right, title and interest in, and duties and obligations under, the AHA pursuant to the terms of the AHA to Assignee and Assignee wishes to accept such assignment. NOW, THEREFORE, Assignor and Assignee hereby agree as follows: 1. Assignor hereby assigns, as of the Effective Date, all of its rights, title interest, duties, and obligations under the AHA to Assignee and Assignee accepts such assignment. 2. From and after the Effective Date all references in the AHA to "Developer" shall now be references to Assignee, and City shall look only to Assignee for performance of the duties and obligations of Assignor as required by the AHA. City shall retain its right to require Assignor to perform all of the duties and obligations assigned by Assignor to Assignee under this Agreement, if the Assignee breaches any part of the AHA. 3. All of the covenants, terms, and conditions of the AHA and set forth herein shall be binding upon and shall inure to the benefit of the Parties hereto and their respective heirs, successors, and assigns. 4. Any notice required under AHA shall be made in accordance with Section 6.1 of the AHA, except notice to Assignor shall, from and after the Effective Date, be made to the address below: Assignment and Assumption Agreement Page 2 Newport Veterans Housing, LP c/o Community Development Partners 3416 Via Oporto, Suite 301 Newport Beach, California 92663 with copies to: Mercy House Living Centers P.O. Box 1905 Santa Ana, CA 92702 5. By its signature below, City hereby consents to and acknowledges the assignment described herein as required by Section 1.5 of the AHA. [Signatures on following page] Assignment and Assumption Agreement Page 3 IN WITNESS HEREOF, the parties hereto have executed this Agreement as of the day and year first above written. ASSIGNOR: COMMUNITY DEVELOPMENT PARTNERS, a California corporation By: Eric Paine, Its: Chief Executive Officer ASSIGNEE: NEWPORT VETERANS HOUSING LP, a California limited partnership By: CDP Newport LLC, a California limited liability company Its: Administrative General Partner By: Community Development Partners, a California corporation Its: Sole Managing Me er By: ZL� Eric Paine Its: Chief Executive Officer By: Mercy House Living Centers, a California nonprofit public benefit corporation Its: Managing General Partner By: Larry aynes Its: President [Signatures Continue on Following Page] Assignment and Assumption Agreement Page 4 CITY: CITY OF NEWPORT BEACH, a California municip c rporation and charter city By: Ed rd D. Selich Its: Mayor 7�1 —S TO FORM: Aaron C. Harp cAM \z I ice I r City Attorney ATTEST: bm-- Leilani I. Brown City Clerk Assignment and Assumption Agreement Page 5 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 December 17, 2015 before me, Tim Winger, Notary Public (insert name and title of the officer) personally appeared Eric Paine who proved to me on the basis of satisfactory evidence to be the person(() whose name($)Fare subscribed to the within instrument and acknowledged to me tha&/she/they executed the same in &her/their authorized capacity(iOt), and that by(gher/their signaturevion the instrument the personal, 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. TIM WINGER WITNESS my hand and official seal. COMMON OM7 Nobly Pubk • Cg tomfa Orap County Signature(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 Orange On December 17, 2015 before me, Tim Winger, Notary Public (insert name and title of the officer) personally appeared Eric Paine who proved to me on the basis of satisfactory evidence to be the persona whose name(s)0are subscribed to the within instrument and acknowledged to me that ie he/they executed the same in (9/her/their authorized capacity(i?t), and that by is her/their signature(,5jon the instrument the person($), or the entity upon behalf of which the person(g7 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. TIM WINGER WITNESS my hand and official seal. Commission # 2099074 Z K-� Notary Public - California Oranpe County Comm. as Feb 6 2019 IV Signature d -�. W (Seal) My CALIFORAIIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 cr�r_.. ,�r�r� sarsr.ca¢� _� _.�r�ri..�r r�r_.,rr,^rr�r!�•..ar!�r_.�r�r�r_.�r�r%-�'r_.�r�r r_a � �rr� �r :.r rr^r r�.�.'r�c c�r%��c:. 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 b P 11 �Q C, On 0 i _-S before me,<Jri-1tv(( r� lifVi� t ))I,)�.�/C`I ��;e� i rl��l Pv3�_ IC Date Here Insert Name and Title of the Officer personally appeared L P\, -,j +Ay. c> DIS ` k C° \:-\ Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(a) is/at:e subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity("), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(a) acted, executed the instrument. Place Notary Seal Above 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 Signa re f Notary Public OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Number of Pages: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual I Attorney in Fact ❑ Trustee Ll Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee -1 Guardian or Conservator ❑ Other: Signer Is Representing: Ste.'=/:�: ri.'-.rr.�.'er.'✓ 'y �S�'..�/.��..'✓G'✓.'tr4�:�5�/�✓6� 'ei6'�.'r>.�.'✓: .v �.'ri�.�y4�.'✓.'rr� •�: er.'✓•✓.�✓.4�✓.'.ri.�.h'��:r�'.�•✓..'✓ ' JENNIFER ANN MULVEY Commission # 2045022 Zh s Notary Public - California Z �'4' Orange County MY Comm. Expires Oct 12, 2017 Place Notary Seal Above 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 Signa re f Notary Public OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Number of Pages: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual I Attorney in Fact ❑ Trustee Ll Guardian or Conservator ❑ Other: Signer Is Representing: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee -1 Guardian or Conservator ❑ Other: Signer Is Representing: Ste.'=/:�: ri.'-.rr.�.'er.'✓ 'y �S�'..�/.��..'✓G'✓.'tr4�:�5�/�✓6� 'ei6'�.'r>.�.'✓: .v �.'ri�.�y4�.'✓.'rr� •�: er.'✓•✓.�✓.4�✓.'.ri.�.h'��:r�'.�•✓..'✓ ' 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 0eanber 1$,1005 before me, Tim Winger, Notary Public (insert name and title of the officer) personally appeared Lukrrj 90krtes who proved to me on the basis of satisfactory evidence to be the person(4 whose name(g&are subscribed to the within instrument and acknowI g ed to me that jshe/they executed the same in 0/her/their authorized capacity(Les), and that by er/their signature(sj on the instrument the person), or the entity upon behalf of which the person(,Kacted, 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. TIM WINGER WITNESS my hand and official seal. COMMSSIon N 2099074NoWy pubk„ Califon Onnpe County M Comm. E rea feD 6 2019 Signature ��[j (Seal)