08-0219_SEASONS SENIOR APARTMENTS II, L.P._Memo of Option Agr (2)•
FIRST AMERICAN TITLE INSURANCE COMPANY
NATIONAL COMMERCIAL SERVICES
LOS ANGELES OFFICE
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
San Juan Capistrano Community
Redevelopment Agency
32400 Paseo Adelanto
San Juan Capistrano, California 92675
Attention: Agency Secretary
This Documents electronically recorded by
OS Norwalk B
Recorded in Official Records, Orange County
Tom Dalv. Clerk -Recorder
DY6NN�I��N��N� NO FEE
10428M157 2008000077137 04:07pm 02/20/08
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
►yes- ae�k qSa !J�`L This document is exempt from the payment of a recording fee pursuant to
Government Code Section 27383
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.
DOC SOC/ 1266855 v2/022299-0081
SD
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:
Dave Adams, Executive Director
ATTEST:
R. Monahan, Agency Secretary
Al?P\RrpVED AS TO FORM:
�V
Stradling Yocca Carlson & Rauth,
Agency Special Counsel
[Signatures continue on following page.]
DOCSOC/ 1266855 v2/022299-0081
n
U
[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:
Name: unter L. Johnson
Its: President and Chief Executive Offic
By: Affordable Multi -Family, LLC, a Colorado
limited liability Company, its Managing
General Partner
Thomas Erickson,
Senior Vice President
DOC SOC/ 1266855v2/022299-0081
n
U
ATTACHMENT NO. 1
DESCRIPTION OF SITE
0
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 I
through 8 inclusive of Parcel Maps, in the office of the County
Recorder of said County.
ATTACHMENT NO. 1-1
DOCSOC/ 1266855v2/022299-0081
0 0
STATE OF CALIFORNIA )
ss.
COUNTY OF
On 66114 13, 2009 before me, OiZ -6e.4k A. Notary Public,
(Print Name of Notary Public)
personally appeared Ow^}e✓ L. JOkm son
who proved to me on the basis of satisfactory evidence to be the personj�whose name,4 is/arm
subscribed to the within instrument and acknowledged to me that he/�Wey executed the same
in his/jwr'/tjheirauthorized capacity(jao and that by his1harftIwk signature(s�-on the instrument the
persorg,9j, or the entity upon behalf of which the personf 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.
El12ABETN A DAMS
z COWAN8810N s 17G202
0) NMKY Pubk _ COfbmie 12
ORANGE COIMTv
Nr Caaaw. EW tAke b. 7011
WITNESS my hand and official seal.
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
❑ Individual
[K Corporate Officer
¢CE0
Title(s)
❑ Partner(s) ❑ Limited
❑ General
❑
Attorney -In -Fact
❑
Trustee(s)
❑
Guardian/Conservator
❑
Other:
Signer is representing:
Name Of Person(s) Or Entity(ies)
S�xSO "Mire, M ^gyp
A'A n 0. re, 'iti��Ts'r 3 �;�� i
DOCSOC/ 1266855v2/022299-0081
DESCRIPTION OF ATTACHED DOCUMENT
_ _/l.{Catn.�Lrtw D t' �a�ii�@liYtt 7"
w� Rpft Title Or Type OfUocument
s
Number Of Pages
Date Of Documents
r
Signers) Other Than Named Above
9
STATE OF CALIFORNIA )
ss.
COUNTY OF W) AvY�dcs )
0
On ��l�tictl�� 177,�OC7< before me,�iCc69L ll l/"F<) Notary Public,
—�J (Print Name of Notary Pu ic)
personally appeared E r OJKZ 1
who proved to me on the basis of satisfactory evidence to be the person(&) whose narl Warre
subscribed to the within instrument and acknowledged to me that hefshefthey executed the same
in hisAwrhheir authorized capacity(-ies} and that by his/her4heir signature(&) on the instrument the
person(&), 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.
�E^C
WRIGHT
commlulon • t Taaa21
Notary Puck - California
Los ArQ*1 8 County
f,q,Ca mPr-a.Anl3.301t
WITNESS my hand and official seal.
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
❑ Individual
❑ Corporate Officer
❑ Partner(s) ❑ Limited
❑ General
❑ Attorney -In -Fact
❑ Trustee(s)
❑ Guardian/Conservator
❑ Other:
Signer is representing:
Name Of Person(s) Or Entily(ies)
DOC SOC/ 1266855 v2/022299-0081
DESCRIPTION OF ATTACHED DOCUMENT
Title Or Type Of Document
Number Of Pages
Date Of Documents
Signer(s) Other Than Named Above
0 0
PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT
State of California )
County of Orange ) ss.
City of San Juan Capistrano )
(Gov't Code 40814 & Civil Code 1181)
On February 12, 2008, before me, Marearet 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) .:!x-,
WITNESS my hand and offica seal:''
Mar eY .Monahan, City',Gfe(1�
OPTIONAL
Capacity Claimed by Signers
Officer title
Title
Executive Director
Signers are Representing
San Juan Capistrano, Community
Redevelopment Agency
Description of Attached Document
Title or Type of Document
Memorandum of Option Agreement
MEMORANDUM March 24, 2008
TO: FILE
FROM: Christy Swanson, Administrative Specialist
REF: SEASONS SENIOR APARTMENTS II
Please refer to the following files for additional information:
670.50 2008
Grant Deed
SEASONS SENIOR APARTMENTS II
Parcel 17 of Parcel Map No. 79-856
670.50 2008
Deed of Trust
SEASONS SENIOR APARTMENTS II
Parcel 17 of Parcel Map No. 79-856
600.40 2008
Regulatory Agreement
SEASONS SENIOR APARTMENTS II
Parcel 17 of Parcel Map No. 79-856
600.40 2008
Memorandum of Option Agreement
SEASONS SENIOR APARTMENTS II
Parcel 17 of Parcel Map No. 79-856
• e