08-0219_SEASONS SENIOR APARTMENTS II, L.P._Memo of Option Agr This Documents electronically recorded by
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FIRST AMERICAN TITLE INSURANCE COMPANY Recorded in Official Records, Orange County
NATIONAL COMMERCIAL SERVICES Tom Dalv. Clerk-Recorder
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RECORDING REQUESTED BY104 28 M15 7 2008000077137 04:07pm 02/20/08
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H o San Juan Capistrano Community
0 o .. Redevelopment Agency
0 32400 Paseo Adelanto
o = San Juan Capistrano, California 92675
o m Attention: Agency Secretary
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yes-aceto aSa-U�2 This document is exempt from he payment of a recording fee pursuant to
Government Code Section 27363
MEMORANDUM OF OPTION AGREEMENT
This MEMORANDUM OF OPTION AGREEMENT ("Memorandum") is hereby
executed as of February 19, 2008, by and between the SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, a public body, corporate and politic ("Agency"), and SEASONS
SENIOR APARTMENTS II, L.P., a California limited partnership ("Owner").
RECITALS
A. Agency and Owner have entered into that certain Disposition and Development
Agreement dated as of November 7, 2006 ("DDA"), as amended by that certain First Amendment to
Disposition and Development Agreement dated as of February 19, 2008 ("First Amendment").
Pursuant to and in consideration of Agency's agreement to enter into the First Amendment, Owner
agreed to convey to Agency an Option to repurchase certain real property described in the legal
description attached hereto as Attachment No. 1 and incorporated herein ("Site") in the event certain
Post-Closing Obligations are not performed within the time set forth in the First Amendment.
B. The First Amendment provides that a short form memorandum of the Option granted
therein shall be executed and recorded against the Site in the Official Records of Orange County,
California.
C. All terms used herein have the meanings set forth in the DDA, as amended by the
First Amendment.
NOW, THEREFORE, the parties hereto certify as follows:
Pursuant to the DDA, as amended by the First Amendment, Owner has granted to Agency an
Option to repurchase the Site in the event Owner fails to satisfactorily perform certain Post-Closing
Obligations as set forth in the DDA, as amended by the First Amendment, upon the terms and
conditions provided for therein. This Memorandum is not a complete summary of the DDA or the
First Amendment, and shall not be used to interpret the provisions of the DDA or the First
Amendment.
1
DOCSOC/1266855v2/022299-0081
IN WITNESS WHEREOF, Agency and Owner have executed this Memorandum of Option
Agreement as of the date first set forth above.
AGENCY:
SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY,
a public body,corporate
��and
``politic
By: ty-Mr.
Dave Adams,Executive Director
AeVED
han, Agency Secretary
A \ r TO FORM:
V
Stradling Yocca Carlson&Rauth,
Agency Special Counsel
[Signatures continue on following page.]
2
DOCSOC/]266855v2/022299-0081
[Signatures continued from previous page.]
OWNER:
SEASONS SENIOR APARTMENTS II, L.P., a
California limited partnership
By: LINC Housing Corporation, a California
nonprofit public benefit corporation, its
Managing General Partner
By: -r-
Name: unter L.Johnson
Its: President and Chief Executive Offic
By: Affordable Multi-Family, LLC, a Colorado
limited liability Company, its Managing
General Partner
By:
Thomas Erickson,
Senior Vice President
3
DOC SOC/1266855 v2/022299-0081
ATTACHMENT NO. 1
DESCRIPTION OF SITE
That real property located in the State of California, County of Orange, City of San Juan
Capistrano, and described as follows:
Parcel 17 of Parcel Map No. 79-856, in the City of San Juan
Capistrano, County of Orange, State of California, as shown on a map
filed in Book 143,Pages 1 through 8,inclusive, of Parcel Maps and as
amended by that certain amended map filed in Book 176, Pages 1
through 8 inclusive of Parcel Maps, in the office of the County
Recorder of said County.
ATTACHMENT NO. 1-1
DOCSOC/1266855v2/022299-0081
STATE OF CALIFORNIA )
ss.
COUNTY OF )
On before me, 0i za.6e-+h /><- DO-Jis Notary Public,
(Print Name of Notary Public)
personally appeared Lkl. -Oh
who proved to me on the basis of satisfactory evidence to be the personf�whose namefo is/arc'
subscribed to the within instrument and acknowledged to me that he/sWShey executed the same
in his/Jser/th�authorized capacity(aej;and that by his/Ijcrft1)air signature(s,)'on the instrument the
persoty(g), 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.
ELMISS 017"2A.DAVIS WITNESS my hand and official seal.
COANAI3810N117N202
NOWy ANW Ceiram4
OR/ulOE r.0U/11Y '
%MyCanes.EyPMAW 20.2017
Sigma e of NqWy Public
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent
fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT
❑ Individual
52 Corporate Officer
fres;den {' 4 CE0 /L,*,,.,,.-,..,.,/u_r.. o-f Ob•�i'or, FfArebn..7'
Title(s) �/Rpft Tile Or Type O ocument
❑ Partner(s) ❑ Limited
❑ General
❑ Attorney-ln-Fact 5
❑ Trustee(s)
❑ Guardian/Conservator Number Of Pages
❑ Other:
Signer is representing: /q
Name Of Person(s)Or Entity(ies)
Date Of Documents Signer(s)Other Than Named Above
DOC SOC/1266855v2/022299-0081
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STATE OF CALIFORNIA )
ss.
COUNTY OF It-) A"?Y00 )
.i
On before me, �i G�l� f�1��� Notary Public,
(Print Name of Notary Public)
personally appeared 7 F'l l`-maS f fir/
who proved to me on the basis of satisfactory evidence to be the person(&) whose name(s) is/aTe
subscribed to the within instrument and acknowledged to me that he>� executed the same
in histherhheir authorized capacity(ies} and that by his/herkhetr 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.
DIANE C.Wg16N7WITNESS my hand and official seal.
COMMIsslon N 1745521
s Notary Public -Calltornla 1 /1
f Los Anp0144 County 1 �
l//�; (/j�,
�rCpnn.6nll�.kn1J,2011 !Got /1
Signature of Notary Public
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent
fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT
❑ Individual
❑ Corporate Officer
Title(s) Title Or Type Of Document
❑ Partner(s) ❑ Limited
❑ General
❑ Attomey-In-Fact
❑ Trustee(s)
r-1 Guardian/Conservator
Number Of Pages
❑ Other:
Signer is representing:
Name Of Person(s)Or Entily(ies)
Date Of Documents
Signer(s)Other Tban Named Above
DOCSOC/1266855v2/022299-0081
c
PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT
State of California )
County of Orange ) ss.
City of San Juan Capistrano )
(Gov't Code 40814 & Civil Code 118 1)
On February 12,2008,before me,Margaret R.Monahan,Agency Secretary,personally appeared
David F.Adams,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/their
signature(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.
(SEAL) ox' ';
fl~ 1rAa
WITNESS my hand and officialrseai
Mar e . Monahan, City Chex$
OPTIONAL
Capacity Claimed by Signers Description of Attached Document
Title or Type of Document
Officer title
Memorandum of Option Agreement
Title
Executive Director
Signers are Representing
San Juan Capistrano, Community
Redevelopment Agency