Loading...
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