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20-1113_DC PROPERTIES 2, LP_Release of Lien and TerminationRECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: Best Best & Krieger LLP Attention: Jeffrey C. Ballinger, Esq 655 W. Broadway, 15th Floor San Diego, CA 92101 Exempt from Recording Fees: Gov Code 27383 City of San Juan Capistrano Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder 11111111 II III 11 1 111 II 111111111 111 NO FEE *$ R 0 0 1 2 4 0 7 2 2 9$* 20210000083561:00 pm 01106121 9 RW9A R13 3 0.00 0.00 0.00 0.00 6.00 0.00 0.000.000.00 0.00 RELEASE OF LIEN AND TERMINATION This RELEASE OF LIEN AND TERMINATION (this "Release") is made as of , 2020 by the City of San Juan Capistrano (the "City"). WITNESSETH.• WHEREAS, the City previously entered into that certain Transient Occupancy Tax Payment Deferral Agreement (the "TOT Deferral Agreement"), dated as of July 16, 2020, with DC Properties 2, LP, a California limited partnership, doing business as Best Western Capistrano Inn ("Hotel Operator"), for the purpose of establishing the terms of Hotel Operator's deferral of payment of its 2020 first quarter transient occupancy taxes (the "Deferred TOT"); and WHEREAS, the TOT Deferral Agreement was recorded on August 10, 2020, as Document No. 2020000391407 of the Official Records of Orange County, California, and by its recording, pursuant to the terms of the TOT Deferral Agreement, served as constructive notice of the City's lien on all of Hotel Operator's real property within Orange County in the amount of the Deferred TOT; and WHEREAS, on October 28, 2020, the Hotel Operator timely paid, and the City received, the Deferred TOT; and WHEREAS, the City desires to cause the filing of this Release in the official records of the Recorder of the County of Orange to release and terminate any and all liens and encumbrances on the Hotel Operator's property created by the TOT Deferral Agreement.- NOW, greement: NOW, THEREFORE, the parties hereto hereby agree as follows: 1. The foregoing recitals are true and correct and by this reference are incorporated herein. The parties hereto acknowledge and agree that any lien or encumbrance for their S-1 15326.00059\33385788.1 respective part on the Hotel Operator's property wherever situated in the City created by the TOT Deferral Agreement is hereby terminated and released without recourse, representation or warranty, and the TOT Deferral Agreement is hereby terminated. 2. This Release shall be binding on and inure to the benefit of the parties and their successors and assigns. 3. This Release shall be governed by the laws of the State of California. W WITNESS WHEREOF, the City has caused this Release to be executed by its duly authorized officer as of the day and year first above written. CITY OF SAN JUAN CAPISTRANO ATTEST: Benjamin Siegel L4 Clerk Christv Jakl APPROVED AS TO FORM: CitfAttdmey Jeffrey Ballinger PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT 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 ) ss. City of San Juan Capistrano ) (Gov't Code 40814 & Civil Code 1181) On January 4, 2021, before me, Christy Jakl, Assistant City Clerk, personally appeared Benjamin Siegel, City Manager and Jeffrey Ballinger, City Attorny, who proved to me on the basis of satisfactory evidence to the be 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/there signature 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. (SEAL) Capacity Claimed by Signers City Manager City Attorney Title Signer is Representing City of San Juan Capistrano WITNESS my hand and official seal. OPTIONAL Description of Attached Document Title or Type of Document Release of Lien and Termination TOT Deferral Agreement Best Western