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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) r,. 0 * e 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"