1984-0801_BANK OF AMERICA_Letter AgreementSAN J ?ISTRA##Q CA{,IFOW41A 92675
"'� �H`O'Nt A93 717 J'
July 26, 1984
Bank of America
Newport Center Branch 1020
500 Newport Center Drive
Newport Beach, California 92660
Attention: Chris Miller, Escrow Officer
Re: Holding Escrow #1020-5485;
Fredricks Development Corporation;
Assessment District No. 78-3
(Ortega Properties)
Gentlemen:
This letter shall set forth the procedure by which the Bank of
America, as escrowholder under the referenced escrow, shall
partially prepay the annual payments of the referenced assessment
on behalf of the condominiums listed on Exhibit "A" to this
letter:
(1) On or before July 1 of each year, commencing on July 1,
1984 and continuing until July 1, 1994, the Bank of America shall
submit to the City, to the attention of the Director of Adminis-
trative Services, a payment in accordance with the schedule of
payments attached as Exhibit "B"; and
(2) Provided that the City timely receive the payments des-
cribed in the preceding paragraph, then for each year in which a
payment is made, the City shall submit to the Orange County
Assessor's Office, on or before the date specified by the Assessor
+ for such purpose, a statement showing a balance due of $200.00 per
condominium listed on Exhibit "A" for inclusion in the real
property tax bill for such condominiums with respect to such
assessment.
Please return a signed copy of this letter for our file.
+ ATTEST:
Very truly yours,
CITY OF SAN JUAN APISTRANO
By:
ry 1Y Hausdorfer, M yor
Mary AnnytlalnOver, City Clerk
Accepted and Agreed:
Date: S__ / , 1984
AP VED AS TO FORM: Bank of Al! �Li,[ca
By TNo
���IN� es S. Okazaci, ty Attorney Its V
)
STATE OF CALIFORNIA Orange yss.
COUNTY OF g y
Au ust 1 1984
g —, before me, the undersigned, a Notary Public in and for
said State, personally appeared_ Chris Miller ____and
U
io — — — — — — — — — — — — — — — — — — — -----, personally known to me (or proved to me on the
a c basis of satisfactory evidence) to be the persons who executed the within instrument as Escrow Officer
n
LLE __ {fr4si1de%t a(n�----------Secretary, on behalf of Rano of AIX1e.PYC8
E
National Trust and Savings Association
6 u the corporation therein named, and acknowledged to me that _
o m 9 ...�.c- _
o 'm such corporation executed the within instrument pursuantto rts::r,,
v
by-laws or a resolution of its board of directors.
m WITNESS my hand and official sea).
m MY comm. expires tUG 4, 1587
m Signature_ __LsS21L - —___—. (This area for official notarial seal)
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SAN
Am
EXHIBIT "A"
CONDOMINIUMS
The following are all of the condominiums in that certain condo-
minium project known as the Capistrano de Oro, located on Lot 1
in Tract No. 11765 in the City of San Juan Capistrano, as per
map recorded in Book 506, Pages 7 and 8, inclusive, of Maps in
the Office of the County Recorder of Orange County, California:
Unit
1
- 31432
Via
La
Mora
Unit
2
- 31436
Via
La
Mora
Unit
3
- 31442
Via
La
Mora
Unit
4
- 31446
Via
La
Mora
Unit
5
- 27502
Via
La
Carta
Unit
6
- 27506
Via
La
Carta
Unit
7
- 27516
Via
La
Carta
Unit
8
- 27512
Via
La
Carta
Unit
9
- 27522
Via
La
Carta
Unit
10
- 27526
Via
La
Carta
Unit
11
- 31441
Via
La
Mora
Unit
12
- 31445
Via
La
Mora
Unit
13
- 31431
Via
La
Mora
Unit
14
- 31435
Via
La
Mora
Unit
15
- 31425
Via
La
Mora
Unit
16
- 31421
Via
La
Mora
Unit
17
- 31404
Via
La
Senda
Unit
18
- 31406
Via
La
Senda
Unit
19
- 31412
Via
La
Senda
Unit
20 -
31416
Via
La
Senda
Unit
21
- 31422
Via
La
Senda
Unit
22
- 31426
Via
La
Senda
Unit
23
- 31446
Via
La
Senda
Unit
24
- 31442
Via
La
Senda
Unit
25
- 31462
Via
La
Senda
Unit
26
- 31466
Via
La
Senda
Unit
27
- 31476
Via
La
Senda
Unit
28
- 31472
Via
La
Senda
Unit
29
- 31492
Via
La
Senda
Unit
30
- 31496
Via
La
Senda
EXHIBIT "A"
T
•
7'400 P�b:,{Id1A'Ix I .
SAN J ' PPSTR GA;,4,F 1A 92675
i
EXHIBIT "B"
PAYMENT SCHEDULE
Amount Owed
(Per Condonimium x 30 - (Total)
July
1,
1984
$ 1,173.30
$35,199.00
July
1,
1985
1,114.86
33,445.80
July
1,
1986
1,056.43
31,692.90
July
1,
1987
997.99
29,939.70
July
1,
1988
939.55
28,186.50
July
1,
1989
881.11
26,433.30
July
1,
1990
822.67
24,680.10
July
1,
1991
764.23
22,926.90
July
1,
1992
705.80
21,174.00
July
1,
1993
647.36
19,420.80
July
1,
1994
588.92
17,667.60
EXHIBIT "B"