1992-0218_SAN JUAN CAPISTRANO, CITY OF_Loan Agreement. 46 Agency Copy
CITY/AGENCY LOAN AGREEMENT
SAN JUAN CAPISTRANO CENTRAL REDEVELOPMENT PROJECT
THIS AGREEMENT is entered into this 18th day of February,
1992, by and between the SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, a public body, corporate and politic (the
"Agency"), and the CITY OF SAN JUAN CAPISTRANO, a municipal corporation
(the "City").
RECITALS:
A. By Ordinance No. 488 adopted July 12, 1983, Ordinance No. 509
adopted on May 15, 1984, Ordinance No. 547 adopted on July 16, 1985 and
Ordinance Nos. 582 and 583 adopted on August 19, 1986, the City Council of
the City of San Juan Capistrano (the "City Council") approved and amended the
Redevelopment Plan (the "Plan") for the San Juan Capistrano Redevelopment
Project (the "Project Area") of the San Juan Capistrano Community
Redevelopment Agency (the "Agency").
B. Pursuant to the Community Redevelopment Law of the State of
California (Health and Safety Code Section 33000 et. seg., the Agency is
carrying out the Redevelopment Plan for the Project in the redevelopment
project area (the "Project Area").
C. Under the Redevelopment Plan, the City shall aid and
cooperate with the Agency in carrying out the Project and take actions
necessary to ensure the fulfillment of the purposes of the Plan and to prevent
the recurrence or spread in the Project Area of conditions causing blight.
-1-
• 4
D. In furtherance of the Project, the Agency and the City desire
to enter into an agreement under which the City will loan to the Agency the
amount of Seven Million Two Hundred Thousand Dollars ($7,200,000), which the
Agency shall use solely for the acquisition of real property identified on that
certain promissory note attached hereto as Attachment "A" (the "Note") and
related costs.
AGREEMENT
The Agency and the City hereby agree as follows:
1. Loan. The City loans to the Agency the amount of Seven
Million Two Hundred Thousand Dollars ($7,200,000) (the "Loan Amount:), which
the Agency shall use for the acquisition of the real property identified in the
Note and related costs.
2. Repayment by the Agency. The Agency shall repay to the
City the Loan Amount, plus interest at the rate per annum which is available on
a month -by -month basis during the term of this Loan for funds invested with
the State of California Local Agency Investment Fund all due and payable three
years from the date hereof.
3. Indebtedness of Agency. This Agreement constitutes an
indebtedness of the Agency incurred in carrying out the Project, and a pledging
of tax allocations from the Project to repay such indebtedness, under the
provisions of Section 16 of Article XVI of the California Constitution and
Section 33670-33674 of the Health and Safety Code; provided, however, that
such pledge of tax allocations shall always be subordinate and subject to the
right of the Agency pledge or commit tax allocations from the Project to repay
bonds or other indebtedness incurred by the Agency in carrying out the Project.
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46
IN WITNESS WHEREOF, the Agency and the City have executed this
Agreement as of the date first above written.
SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY
0
By:
ATTEST:
��54
%1 _Wrte ��
r j
CITY OF SAN JUAN CAPISTRANO
By: "' , 2: ��
Step en B. Julian, City anager
By:
David P. Bentz, Dir&Ar of
Administrative Services
ATTEST:
City Clerk
APPROVED AS TO FORM
City At orney
• i
PROMISSORY NOTE SECURED BY DEED OF :ROUST
5-,=OU,000 Sart Juan Capistrano, Calcfo;cta
February 131 -72
For value received, the undersigned, SAN JUAN CAPISIRANO CO"l:1UNITY
REDEVELOPMENT AGENCY, a public body corporate and politic created under the
laws of the State of California ("Borrower"), promises to pay to t order o.
the CITY OF SAN JUAN CAPISTRANO, a municipal corporation organised and
existing under the Laws of the State of California ("Lender'), at '_2400 Faseo
Adelanto, Sart Juan Capistrano, California, or at such other place as may ce
designated in writing by Lender, the principal sum of [insert amount, not to
exceed 57,200,0001 DOLLARS (S 7,2200,000 ) with interest at the monthly rate
per annum which is available during the term hereof for funds invested with
the State of California Local Agency Investment Funds, and as such rate may
vary from month to month. Interest shall be due and payable in one
installment on the Maturity Date (as hereinafter defined).
The outstanding principal balance of this note, together with any accrued
and unpaid interest, shall be due and payable in one installment on or before
the third anniversary date of this note ("Maturity Date"). Notwithstanding
the foregoing sentence, the principal balance of this note, together with
accrued and unpaid interest, is payable at any time upon demand by Lender.
All sums owing hereunder are payable in lawful money of the United States of
America. All or any portion of the principal balance of this note may be
prepaid at any time without penalty or premium.
This note is secured by a deed of trust ("Deed of Trust") dated the date
hereof, on certain real property (the "Property") located in San Juan
Capistrano, California, and described on that certain ALTA/AGSM Land Title
Survey dated December 16, 1991, W.O. No. 1100-1, prepared by Hunsaker &
Associates, Inc., 3 Hughes, Irvine, CA 92718 (the "Survey"), which Survey is
incorporated herein by reference.
PRINCIPAL OTHERWISE DUE UNDER THIS NOTE SHALL BE REDUCED FROM TIME TO TIME
PURSUANT TO THE FOLLOWING PROVISIONS:
BORROWER MAY REPAY ALL OR ANY PORTION OF THE PRINCIPAL DUE UNDER -HIS
NOTE BY TRANSFERRING TO LENDER FEE -SIMPLE TITLE TO THE PROPERTY OR
PORTIONS THEREOF OR OTHER REAL PROPERTY WHICH IS IN AN OPEN SPACE
CONDITION AT THE TIME OF TRANSFER TO THE CITY BUT WHICH HAS NOT BEEN
PREVIOUSLY DEDICATED OR TRANSFERRED TO THE CITY OR ANY OTHER PUBLIC
ENTITY FOR OPEN SPACE USE. BORROWER SHALL BE ENTITLED TO A REDUCTION
OF PRINCIPAL ON A DOLLAR FOR DOLLAR BASIS BY CREDITING BORROWER WITH
AN AMOUNT EQUAL TO THE PRODUCT DERIVED BY MUTIPLYING THE NUMBER OF
SQUARE FEET OF PROPERTY CONVEYED TO LENDER BY BORROWER TIMES THE
APPLICABLE PRICE PER SQUARE FOOT SET FORTH BELOW:
Price Per Square Foot Property Description (by reference to
property description set forth in the Survey)
a. $1.83 psf: Parcels A, 1, 3, 4, 5, 6, 7
b. 515.00 psf: Parcel 2
C. 512.00 psf: Parcels B-1 and B-2
For example, and by way of illustration only, if Borrower transferred to
Lender a total of 300,000 square feet of category "a" property and 50.000
square feet of category "c" property, the principal balance of this note would
be reduced by a total of $1,149,000.00 ($549,000.00 [$1.83 psf x 300,000 sf] +
5600,000 [512.00 psf x 50,000 sf]). Borrower is entitled at any time to make
one or more transfers of portions of the Property to Lender and the reduction
in the principal amount of this note shall be effective as of the date of each
such transfer. All costs, fees, charges and expenses of any kind whatsoever
in connection with such transfers shall be borne by Borrower. Title to the
Property or portion thereof transferred by Borrower to Lender shall be by
grant deed subject only to the same exceptions to title as the Property or
portion thereof was subject at the time of the acquisition of the Property by
Borrower, except as Lender may otherwise agree in writing.
0 0
BORROWER SHALL ALSO BE ENTITLED TO A REDUCTION OF PRINCIPAL ON A
DOLLAR FOR DOLLAR BASIS BY CREDITING BORROWER WITH AN AMOUNT E2UAL -3
THE COSTS INCURRED BY BORROWER IN CONNECTION WITH EXAMINATION OF ANY
PORTION OF THE PROPERTY TRANSFERRED BY BORROWER TO LENDER FOR THE
EXISTENCE OF HAZARDOUS MATERIALS OR HAZARDOUS WASTE AND IHE
REMEDIATION OF ANY SUCH CONDITION ON ANY PORTION OF THE PROPERTY
TRANSFERRED BY BORROWER TO LENDER. PRINCIPAL REDUCTIONS PURSUANT TO
THIS PARAGRAPH SHALL BE EFFECTIVE AS OF THE DATE OF TRANSFER BY
BORROWER TO LENDER OF THE PORTION OF THE PROPERTY TO WHICH THE COSTS
INCURRED FOR SUCH EXAMINATION AND REZIEDIA7ION IS APPLICABLE.
If (a) Borrower shall fail to pay when due any sums payable hereunder; or
(b) a default occurs under the Deed of Trust or under any obligation secured
thereby; or (c) the property covered by the Deed of Trust or any portion
thereof or interest therein, is sold, transferred, mortgaged, assigned,
encumbered or leased, whether voluntarily or involuntarily or by operation of
law or otherwise, other than a transfer of all or any part of the Property by
Borrower to Lender or as otherwise expressly permitted by Lender in writing,
or (d) a petition in bankruptcy is filed by Borrower or any such petition is
initiated against Borrower which is not withdrawn or dismissed within sixty
(60) days after the date of filing; or (e) Borrower makes a general assignment
for the benefit of its creditors or suffers the appointment of a receiver for
all or any portion of its assets which is not dismissed within sixty (60) days
after the date of such appointment, then Lender may, at its sole option,
declare all sums owing under this note immediately due and payable.
In the event that suit be brought hereon, or an attorney be employed or
expenses be incurred to compel payment of this note or any portion of the
indebtedness evidenced hereby or to enforce any of the provisions of this
note, the undersigned promises to pay reasonable attorneys' fees and expenses,
inc'_-.!--ng but not limited to attorneys- fees incurred in any legal or
ban; .icy proceeding or any judicial or nonjudicial foreclosure proceeding.
No previous waiver and no failure or delay by Lender in acting with
respect to the terms of this note or the Deed of Trust shall constitute a
waiver of any breach, default, or failure of condition under this note, the
Deed of Trust or the obligations secured thereby. A waiver of any term of
this note, the Deed of Trust or of any of the obligations secured thereby must
be made in writing and shall be limited to the express written terms of such
waiver.
Borrower waives presentment; demand; notice of dishonor; notice of default
or delinquency; notice of acceleration; notice of protest and non-payment;
notice of costs, expenses or losses and interest thereon; and diligence in
taking any action to collect any sums owing under this note or in proceeding
against any of the rights or interests in or to properties securing payment of
this note. Time is of the essence with respect to every provision hereof.
This note shall be construed and enforced in accordance with the laws of the
State of California, except to the extent that Federal laws preempt the laws
of the State of California, and all persons and entities in any manner
obligated under this note consent to the jurisdiction of any Federal court or
State of California court having proper venue and also consent to service of
process by any means authorized by California or Federal law. This Note and
all of its provisions, conditions, promises and covenants shall be binding in
accordance with the terms hereof upon Borrower, Lender and their respective
successors and assigns.
By:
Executive Director
(signatures continued on next page)
02/13/92
1131c/2299/053
"Borrower--
By:
Borrower"
SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, a public body
corporate and politic created under the
laws of the State of California
By:
Chairman, Board of Directors
rD
• i
PROMISSORY MOTE SECURED BY GEED OF -RUST
S -,_00,J00 San Juan Capistrano, Ca: ucr-.a
r-bruary 13
For value received, the undersigned, SAN JUAN CAPISTRANO _CNMUM17Y
REDEVELOPMENT AGENCY, a public body corporate and politic created under the
laws of the State of California ("Borrower"), promises to pay to the order =:
the CITY OF SAN JUAN CAPISTRANO, a municipal corporation argantzed and
existing under the laws of the State of California ("Lender'), at 324CO 7aseo
Adelanto, San Juan Capistrano, California, or at such other place as -,ay ze
designated in writing by Lender, the principal sum of [insert amount, not to
exceed 57,200.0001 DOLLARS ($ 7,:00,000 ) with interest at the monthly rate
per annum which is available during the term hereof for funds invested 41th
the State of California Local Agency Investment Funds, and as such rate ray
vary from month to month. Interest shall be due and payable in one
installment on the Maturity Date (as hereinafter defined).
The outstanding principal balance of this note, together with any accrued
and unpaid interest, shall be due and payable in one installment on or before
the third anniversary date of this note ("Maturity Date"). Notwithstanding
the foregoing sentence, the principal balance of this note, together with
accrued and unpaid interest, is payable at any time upon demand by Lender.
All sums owing hereunder are payable in lawful money of the United States of
America. All or any portion of the principal balance of this note may be
prepaid at any time without penalty or premium.
This note is secured by a deed of trust ("Deed of Trust") dated the date
hereof, an certain real property (the "Property") located in San Juan
Capistrano, California, and described on that certain ALTA/AGSM Land Title
Survey dated December 16, 1991, W.O. No. 1100-1, prepared by Hunsaker &
Associates, Inc., 3 Hughes, Irvine, CA 92718 (the "Survey"), which Survey is
incorporated herein by reference.
PRINCIPAL OTHERWISE DUE UNDER THIS NOTE SHALL BE REDUCED FROM TIME 10 TIME
PURSUANT TO THE FOLLOWING PROVISIONS:
BORROWER MAY REPAY ALL OR ANY PORTION OF THE PRINCIPAL DUE UNDER THIS
NOTE BY TRANSFERRING TO LENDER FEE -SIMPLE TITLE TO THE PROPERTY OR
PORTIONS THEREOF OR OTHER REAL PROPERTY WHICH IS IN AN OPEN SPACE
CONDITION AT THE TIME OF TRANSFER TO THE CITY BUT WHICH HAS NOT BEEN
PREVIOUSLY DEDICATED OR TRANSFERRED TO THE CITY OR ANY OTHER PUBLIC
ENTITY FOR OPEN SPACE USE. BORROWER SMALL BE ENTITLED TO A REDUCTION
OF PRINCIPAL ON A DOLLAR FOR DOLLAR BASIS BY CREDITING BORROWER WITH
AN AMOUNT EQUAL TO THE PRODUCT DERIVED BY MUTIPLYING THE NUMBER OF
SQUARE FEET OF PROPERTY CONVEYED TO LENDER BY BORROWER TIMES THE
APPLICABLE PRICE PER SQUARE FOOT SET FORTH BELOW:
Price Per Square Foot Property Description (by reference to
property description set forth in the Survey)
a. S1.83 psf: Parcels A, 1, 3, 4, 5, 6, 7
b. $15.00 psf: Parcel 2
C. $12.00 psf: Parcels B-1 and B-2
For example, and by way of illustration only, if Borrower transferred to
Lender a total of 300,000 square feet of category "a" property and 50,000
square feet of category "c" property, the principal balance of this note would
be reduced by a total of $1,149,000.00 ($549,000.00 [$1.83 psf x 300,000 sf] +
S600,000 ($12.00 psf x 50,000 sf]). Borrower is entitled at any time to make
one or more transfers of portions of the Property to Lender and the reduction
in the principal amount of this note shall be effective as of the date of each
such transfer. All costs, fees, charges and expenses of any kind whatsoever
in connection with such transfers shall be borne by Borrower. Title to the
Property or portion thereof transferred by Borrower to Lender shall be by
grant deed subject only to the same exceptions to title as the Property or
portion thereof was subject at the time of the acquisition of the Property by
Borrower, except as Lender may otherwise agree in writing.
successors and assigns.
--Borrower--
SAN
Borrower"
SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, a public body
corporate and politic created under the
laws of the State of California
By: By,
Executive Director Chairman, Board of Directors
(signatures continued on next page)
02/13/92
113Ic/22991053 -2-
ATTEST:
City Clerk
retary
02/13/92
1131q/2299/053 -3-
nrde, Vo
Loan
WHEN RECORDED MAIL TO.
STRADLING, YOCCA, CARISCN & RAUM
660 Newport Center Drive
Suite 1600
Newport Beach, CA 92660
Attn: M. D. Talbot, Esq.
FAL
fall ABOVE THE LINE FOR RECORDER'S USE
DEED OF TRUST WITH ASSIGNMENT OF RENTS
(LONG FORM)
rhos DEED OF TRUST, made FebruarT 18 , 1992 oe"wee'
SAN JLAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY,
herein called *R USTCR
whose address is 32400 Paseo Adelanto, San Juan Capistranor California
ImMmb.n and sf.nn (e.ly) slae�
FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation, nerem called TRUSTEE. and
CITY OF SAN JUAN CAPISTRANO,
, herein called BENEFICIARv,
WITNESSETH: That Trustor grants to Trustee in Trust, with Power of Sale, that property In the
City of San Juan Capistrano, County of Orange , State of California, described as.
a Ge r w � ria I21• • a n • •a Ix ar.
It is mutually agreed that this Deed of Trust is subject to the tears, covenants,
conditions and agreements set forth in the Rider to Deed of Trust attached to this
Deed of Trust and made a part hereof (the "Rider"). Th the extent there are any
inconsistencies between the printed provisions of this Deed of Trust and the
Rider, the terms of the Rider shall prevail.
ToyathEr wrh the renis. IYues and Profits Mar.f, Wbbct. InorvwN, to the rend, power and Mil ni hereinafter given . and conferr. upon Benefn
clary to collect and Mady such hands, WIM Ertl poll
For the Purp of Security; 111 Parynamt of the win of B with interest Thomson according. This tarnnt of a promissory note or
nobs of ON. data herewith mala by TN... Gysble to Ord. of Bmeri cal a. wilenagns w rmewels thereof, s. (2) the performance of each afire!
Allot 01 Tluflor Intprpormad by Iefehance Or Contained herein 131 PIYrMnt Of additional Wmf am Interest TMrpn whKh NO, hNeafnl be IOanm to
Trustor, or hes WaeaMra w Ogee. when theam ed by a womog Mn Or notes recalls that they .a Yc iled by MIs 0. of Trurt.
A. To pros.\ this YKunny OI Mn dead Of Trutt. Trv,,or qea
Ito To keep Mid properly, on Eland corMltlM and Noti not to mmwe OF ONntlaYa any Wi1MM thelCOn. 10 ComNNe w.1. 01.00, and In gpM two
workmanlike manner MY Dulldms which may, M cmNrvctM, dYnegM wd.,MWM.. Nq no OM sorer Me YI cl.ove for lap. pMalmb Md mNenY, Nonni
In...f.r; to cm.warousi
py with YI las.ng nM pu
property Or rlll N MY YnNM. wNMnn b cilli
rIeImprto mice MMM: n. to or comfit were Manor n
n CM1mlr WNaIw permit any .t upon Mid progrly In violation o1 IM. to Cu1MM, Iingate, fam.h... fYmlgNa, peril. Nod Op YI OMN.M1'M1Kn to. Me Cn..nr
.1 uM of Yb OIopMY mry he IaYOna , A..,, tris fp.IlY M orn.1m.p hNIM not... hider, Me lathers.
121 TO propose mMYm MO OsnN t0 BMefKIYY lin nWINKa WKl.nly IO and wish lots gysHe to BNNIKIM. The NnWnt Grouter under Mr lire
. *Met IoW tarifa pd.cy may, of Y i'W by Beneficiary upon mac nldaDtadrMY.Curatd nerfpr and In WM order Y SmOlclan they aMlm,M, a1 M cohM "1 Bon.
IKlary Me entire Nn.lnt Y COII.M Of MY pert InstMl mar, OR rsfYad t0 Trvet.. Such application of MIaY NYI not Gun. wenn my default Or notice of dalYllt
nelNMe, O, IMYtlM nd MY .t doer pu..l t0 Won n.K..
191 To= In mal defemy, .. aed
lionpr.ing Motioning to ear t the.Cun. honest or Me rents pren of BmeIiINY of Theories, ash to pay to
CorMp m
n d x. including Coot Of NMmees Of Into and alNMy', IeY on is n.OIVWe Wm, In MY Ych .FM. tr..d q m m1Kn eeMlYlmY or Try,,. An.,
ppeN, ash In ens W l\ Dlwdlt DY BMNKIary to fonCIOY MO ON.
hal TO pay. at rout IM days before OSInpU car YI W N and ... aN.IIM Yid OlOperty, iAchhh" M . M ppYTnmt water N.k, sorer
ape, YI lncumblM[0. chNg. ash hens, with interim, M Mod Otppertr . my part tNMt. men WP to Me prop Or W Gra. hints; sl C.O, IM and axq, s of
MS TrvY
Should TryNOI lad t0 m.. MYpe..l.\O do my.1. hei .w o .MM somehaery.Trollies, pool wlMw\ OsipN1M as 10 do a,H wnnw\no,.n
Or d.m u. T W e:0r and wnhou\ MMing TN,n1 from mac oallpench 1M01. May: mora . p0 Me V on such maMN YM of MCO.Mt no either mer Moyes
na ll 1. Motect Me seri ha,pl, Bmelclary . TnfiN pacer mMMOYd t0 inter upNt YC .opeM I. On pulp0.e, appal In a,p carry. my .tier al p10
[.diMGrportlM nan.1 Me.curin hereof or on. no or power of BmafKlw. That.: Mayr, pcne., con. N c.nprore. Mr lrKumO.Yoca. cnN.. I,.n
wnKn In Me IudgmMl at NMN a .10 De a,.., or W parlor hM10. Ytl. Il .Mn,og mac Inch Miami pear MCa.NY.ap.r.a. Ynplw ...I and Dw hal, re.Olw
We Nes
ISI TO pay immmii Yoa wlM4ll OYllmd YI ai to . 4 ON eMNKia y ON T..e..IM on�e�ea1 fr.OM Of YpYClnn N Me YnwM.11.vp
bit IYu In .Nei . on. it.. M . and to per for my Nalement prwoded for by My on a nt N the 0 h. rpYMM Me oWIBmin FaculYd MnpY any Nnount
MIYYed by Me BYMiK N. 1...e MI M.Mum 0IOWs1 Oy 1. Of Me sol. wll. Mod aY1YlYl1.OYnsbsl.
B, ItYmuWWY a- :
(l) Th. My sYNd OI OEM In lonnic n NAM MY cOMMMIM I. M.M. over of . onlury to sod plpparh a1 MY part ..f.. 1.10, aYgnp and
Mall b. Gid re B.MIO mac ap01Y . rY.a. Wcn mpMY, ,.Mm by nom In der Ysae mMM1 aro wish Me Yne eN.i. sa0ye p,wlop I.OIfpM40n of
..sod. of fin or ~ odour AN n.lannc..
(21 That by a..bM PayMMt OI My.. ,.unit ha akar,. We der. 8. Wiary dm.New. no. tyle.~ ion nwin prompt prymenl whom due
dl all OMer W l4. a.ursl . to dourer OelYlt to, fallun Of io pry.
19) That . an, time . Inco lmla to nm., waM.at liability Meer. W wIMGt not... upon vim. Norm Of Be .." erld MMmAM an OI Mo.Oa.
and YId nab f. mR.aart.nt Nb woMoui aM.ing Me Grohs b.11iry . MY Mer.,l I. pryroom, of Me mdNMap .. McMyd her.y, Th. may Lanier .nee
part Of Yq oO ; c..n, . Me mak.M OF MY Map . s. Mar.f: Ian in W.I." Yn ea. 11Mraan:.loln on ary, o.I,PeYlent Or ivy .r.Ynmt
Wsomphi in, the I. n. creep. normal.
UI Th. Moen wnmm rpu.l of penelKiary ..Ire M. m W in. Yat. nareby rare O.n pend. Ytl upon W rreMer al Mc O.M W ,e. nM to Trv,t.
1or cYKY1." and n1.MIM orOM. oi.,.. Trvam In o. p. gicrabM Nom, 0.and upon prymMl of m Nn, Trustee .sl r. a... wlmwt wNranry.
Me prOpMY M.. her I.... TN,.IW. In Wcn rcoMNarc.0 Mr m.1M. NatiM.1 pei.cluwe Fora. Of The inMhlM. Merl. Th. Greenstein Wcn
rcorwW arc. mry N tlRnp.. "Me peon. Gran IymY Moll.
(SI That . a pttonY MCu niy, Trv.Or h.aDY aN. [O Yb CMIM upon gNNlKoary Me right pwNr aria YM.o., during M. CMhmance of May TrvsU.
t0 ColY9 Me rMq I.r. and Prall. Of Moi pr. . raleryne units Teri. Me ,Igni. M. as MY defal by Thus. At prythMt Of mV I.a.rNM Mprr. farm,
or M Ghill—WIC101 mac MraNnmt Nr..N.. cmc, MO I.NA WU IMS.... N. PrOlib. Mry b..la.e alM MvFo upon mac WM Mfaull gM.11tlery
mar at any Come wlM W I motif.. elmN In p , by semi or by is r.mar 10 a.p.nba by ... n, this m.pt IFORM O 10 Me mmucy of my .cu rlry f. M. In
a.t.neY A., upon NO tMeppW... of Mod a,., or mac part MNwI, In nn Own nyn.we for .oma,wl.1.1.1YcnnAr.impa.oRf-
...Incwdma mW pa due and MOW. ands, Me.. AM coo NM e.M.nMf of Monsoon al. CMc"on. InclualnR n.On.0 erornev I feac open env InaeOt.-
nas .haw. .
nNy,. anio. a M
. Nm M onto. B.fb.ermMmu
ary mer "m.. T.n."pon.ourerO.e.
YtO.n of .0 M11. M. fdP.110A of win nnA, .mar a.
Profits .. IM NaMniou. thereof . afOr.YY, mel not can Or wen. MY Mi . noon. OI d.Nll A.,Nnear . wompala MY M, ..A. ..an, r0 a civ A.Ine.
bl T y� Odell by rwror m Owment of env mOrotfonq tiunef neredv nformaec. or am grffmfm nvdmN. Bane• c a. — an
uIq ImTCINNV out an0 par Mia by ONwery 10 rules o1 wnrlan Oile I dflsuii ace ONnarb ror Va and or m,"Fir 1Otc. atV
OI Tisch On TO o be told Lid OropaT. wn.cm m.l.. Trustee Met CYfe TO be Tiled for ret BenanclNV al. NYI lapid ..in Truffle this Deed �alo me into
all documene Nidimump eaOMolNr...'ed nehydu.
4her theTepee OI on time all Try Ino be npulfed by law followme me recordation of Lid note. of off Nlla aft 80140 Of we nadide been even i than if,
Yued by law. TNNae, wlmoul d.n On TNROr, snuff WI Red: officially at me Fifty and p14. fla! 01 IT in Mid notice of wig. .,Me' i f wade Of ,n iONe s ON
crus, aril in sucn order as n may d.d '...1 WOIe Lctlon to If. hienit bidder IOf 1. in lawful mons, OI Th. United ST.lee, oavilf al i.Me OI seta T.r
R
OOone W. of MI or any pMllon of MidOropMY b, oubuft o announcement such t.Me.M pile. of We. an0 hon time us time Th .... It., me, ogtpon. a" Me
OY oubuc immemosmar, at me Imre filed by M. ofibine pgicOnemant Trustee NNI dNlrb f0 such Pumhier .O dead comN rs me.bevel", 10 sod, Out -m
-
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STATE OF CALIFORNIA Is•
COUNTY OF I
before me, the undersigned a Notary Public In and for said State. personally appeared
personally known tome (or proved tome on the basis of satisfactory, evidence) to be the person) a) whose name).) Is/are TIFF bsCflb90 to the wit nln
instrument and acknowledged to me that M/she they executed the Sams.
WITNESS my hand and official seaL
OO NOT a1COSD
TO FIRST AMERICAN TITLE INSURANCE COMPANY, TRUSTEE.
Rhee alfa for oW.-I narand saa0
REQUEST FOR FULL RECONVEYANCE
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EXHIBIT "A"
DESCRIPTION
OR -1570738
THE LAND REFERRED TO IN THIS REPORT IS SITUATED IN THE STATE OF
CALIFORNIA, COUNTY OF ORANGE, CITY OF SAN JUAN CAPISTRANO, AND IS
DESCRIBED AS FOLLOWS:
PARCEL 1:
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 25, TOWNSHIP 7 SOUTH,
RANGE 8 WEST, AND THAT PORTION OF THE NORTHWEST QUARTER OF SECTION 36,
TOWNSHIP 7 SOUTH, RANGE 8 WEST, BOTH OF SAN BERNARDINO MERIDIAN,
ACCORDING TO THE OFFICIAL PLAT FILED IN THE DISTRICT LAND OFFICE MAY 19,
1873, DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE CENTERLINE OF THE STATE HIGHWAY AS DESCRIBED
IN THE DEED TO THE STATE OF CALIFORNIA, RECORDED MARCH 22, 1916 IN BOOK
281, PAGE 245 OF DEEDS, RECORDS OF ORANGE COUNTY, CALIFORNIA, SAID POINT
BEING THE EASTERLY CORNER OF THAT CERTAIN ONE ACRE PARCEL OF LAND
CONVEYED TO GUY WILLIAMS BY DEED RECORDED SEPTEMBER 11, 1916 IN BOOK
288, PAGE 90 OF SAID DEEDS; THENCE SOUTH 51 DEGREES 11' 00" EAST ALONG
SAID CENTERLINE, 251.95 FEET; THENCE SOUTH 38 DEGREES 49' 00" WEST
158.00 FEET; THENCE SOUTH 51 DEGREES 11' 00" EAST 97.00 FEET; THENCE
NORTH 38 DEGREES 49' 00" EAST 158.00 FEET TO A POINT IN THE CENTERLINE
OF SAID CALIFORNIA STATE HIGHWAY; THENCE SOUTH 51 DEGREES 11' 00" EAST
ALONG SAID CENTERLINE, 1190.58 FEET TO THE BEGINNING OF A TANGENT CURVE
CONCAVE SOUTHWESTERLY, HAVING A RADIUS OF 600.00 FEET; THENCE
SOUTHEASTERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF 30 DEGREES
52' 00", AN ARC DISTANCE OF 323.23 FEET TO A POINT ON SAID CURVE, BEING
AN ANGLE POINT IN THE SOUTHWESTERLY LINE OF THE LAND CONVEYED TO OSCAR
ROSENBAUM BY DEED RECORDED DECEMBER 16, 1914 IN BOOK 265, PAGE 69 OF
SAID DEEDS; THENCE, CONTINUING ALONG SAID CENTERLINE, SOUTHERLY TO THE
NORTHERLY TERMINUS OF THAT CERTAIN COURSE DESCRIBED IN DEED TO CHARLES
D. SWANNER AND OTHERS, RECORDED NOVEMBER 29, 1941 IN BOOK 1121, PAGE 251
OF OFFICIAL RECORDS OF SAID ORANGE COUNTY, SAID COURSE BEING CITED AS
"NORTH 10 DEGREES 17' WEST ALONG SAID TANGENT LINE 116.81 FEET"; THENCE,
ALONG THE BOUNDARY OF THE LAND DESCRIBED IN SAID DEED, SOUTH 67 DEGREES
33' 50" WEST 306.88 FEET; THENCE NORTH 29 DEGREES 48' WEST 360.24 FEET;
THENCE NORTH 19 DEGREES 19' 00" WEST 199.12 FEET; THENCE SOUTH 75
DEGREES 15' 40" WEST 160.19 FEET; THENCE NORTH 34 DEGREES 28' 00" WEST
165.62 FEET; THENCE NORTH 84 DEGREES 10' 20" WEST 140.43 FEET; THENCE
SOUTH 73 DEGREES 51' 20" WEST 208.66 FEET; THENCE SOUTH 16 DEGREES 11'
50" EAST 1089.10 FEET; THENCE SOUTH 44 DEGREES 51' 40" WEST 109.08 FEET;
THENCE SOUTH 19 DEGREES 50' 40" WEST 140.56 FEET; THENCE SOUTH 17
DEGREES 54' 20" EAST 503.86 FEET; THENCE SOUTH 37 DEGREES 36' 40" WEST
258.80 FEET TO A POINT IN THE NORTHEASTERLY RIGHT OF WAY LINE OF THE
ATCHISON, TOPEKA AND SANTA FE RAILWAY COMPANY'S 60 -FOOT RIGHT OF WAY, AS
A-1
0
0
OR -1570738
CONVEYED TO THE CALIFORNIA CENTRAL RAILWAY COMPANY BY DEED RECORDED IN
BOOK 504, PAGE 305 OF DEEDS, RECORDS OF IAS ANGELES COUNTY, CALIFORNIA,
SAID POINT BEING ON A CURVE CONCAVE NORTHEASTERLY AND HAVING A RADIUS OF
5699.65 FEET, THE CENTRAL POINT OF WHICH BEARS NORTH 71 DEGREES 53' 50"
EAST; THENCE, FROM SAID POINT, NORTHWESTERLY ALONG SAID CURVE AND ALONG
THE NORTHEASTERLY LINE OF THE ATCHISON, TOPEKA AND SANTA FE RAILWAY
COMPANY'S 60 -FOOT RIGHT OF WAY, THROUGH A CENTRAL ANGLE OF 1 DEGREE 59'
50111 A DISTANCE OF 198.68 FEET TO A LINE TANGENT; THENCE NORTH 16
DEGREES 06' 20" WEST ALONG SAID TANGENT LINE AND ALONG THE NORTHEASTERLY
LINE OF THE ATCHISON, TOPEKA AND SANTA FE RAILWAY COMPANY'S 60 -FOOT
RIGHT OF WAY, 2647.95 FEET TO THE SOUTHERLY CORNER OF THE SAID GUY
WILLIAMS LAND; THENCE NORTH 47 DEGREES 10' EAST ALONG THE SOUTHEASTERLY
LINE OF SAID LAND, 418.01 FEET TO THE EASTERLY CORNER OF SAID LAND AND
THE POINT OF BEGINNING.
EXCEPTING THEREFROM, THAT PORTION CONVEYED TO THE ATCHISON, TOPEKA AND
SANTA FE RAILWAY COMPANY BY DEED RECORDED DECEMBER 9, 1927 IN BOOK 115,
PAGE 19 OF OFFICIAL RECORDS; THE LAND HEREIN CONVEYED CONTAINING 69.95
ACRES, MORE OR LESS.
ALSO EXCEPTING THEREFROM, THAT PORTION WITHIN THE CALIFORNIA STATE
HIGHWAY LYING NORTHEASTERLY OF COURSE "NORTH 35 DEGREES 47' WEST 304.3
FEET" IN THE DEED FROM R. Y. WILLIAMS AND OTHERS, TO OSCAR ROSENBAUM,
RECORDED DECEMBER 16, 1914 IN BOOK 265, PAGE 69 OF DEEDS.
ALSO EXCEPTING THEREFROM, THAT PORTION INCLUDED WITHIN THE LAND
DESCRIBED IN DEED TO THE ORANGE COUNTY FLOOD CONTROL DISTRICT RECORDED
JULY 1, 1971 IN BOOK 9702, PAGE 463 OF OFFICIAL RECORDS OF SAID ORANGE
COUNTY.
ALSO EXCEPTING THEREFROM, A PUMPING PLANT SITE, THE WATER DEVELOPED
THEREON, THE PUMPING PLANT, AND ALL APPURTENANCES THERETO; SAID PUMPING
PLANT SITE BEING DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE CENTERLINE OF THE STATE HIGHWAY HEREINABOVE
DESCRIBED, SAID POINT BEING THE EASTERLY CORNER OF SAID CERTAIN ONE ACRE
OF LAND CONVEYED TO GUY WILLIAMS; THENCE SOUTH 51 DEGREES 11' 00" EAST
ALONG SAID CENTERLINE, 364.58 FEET; THENCE SOUTH 33 DEGREES 26' 00" EAST
196.05 FEET; THENCE SOUTH 16 DEGREES 06' 00" EAST 116.01 FEET; THENCE
SOUTH 03 DEGREES 56' 00" EAST 253.31 FEET; THENCE SOUTH 13 DEGREES 19'
00" WEST 202.37 FEET; THENCE SOUTH 79 DEGREES 53' 30" WEST 32.05 FEET TO
THE TRUE POINT OF BEGINNING; THENCE SOUTH 10 DEGREES 06' 30" EAST 64.00
FEET; THENCE SOUTH 79 DEGREES 53' 30" WEST 24.00 FEET; THENCE NORTH 10
DEGREES 06' 30" WEST 64.00 FEET; THENCE NORTH 79 DEGREES 53' 30" EAST
24.00 FEET TO THE TRUE POINT OF BEGINNING.
A-2
0 i
PARCEL 2:
OR -1570738
THAT PORTION OF THE NORTH HALF OF SECTION 36, TOWNSHIP 7 SOUTH, RANGE 8
WEST, SAN BERNARDINO MERIDIAN, ACCORDING TO THE OFFICIAL PLAT FILED IN
THE DISTRICT LAND OFFICE, MAY 19, 1873, DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF THE SOUTHWEST QUARTER OF THE
NORTHEAST QUARTER OF SAID SECTION 36; THENCE SOUTH 0 DEGREES 44' 00"
WEST ALONG THE EAST LINE OF SAID SOUTHWEST QUARTER, 630.73 FEET; THENCE
NORTH 88 DEGREES 43' 40" WEST 1648.31 FEET TO A POINT IN THE CENTERLINE
OF THE CALIFORNIA STATE HIGHWAY, AS DESCRIBED IN DEED RECORDED MARCH 22,
1916 IN BOOK 281, PAGE 245 OF DEEDS, RECORDS OF ORANGE COUNTY,
CALIFORNIA, SAID POINT BEING NORTH 26 DEGREES 40' 00" EAST 93.28 FEET
FROM THE SOUTHWESTERLY END OF A COURSE IN SAID DEED WHICH BEARS "NORTH
26 DEGREES 40' 00" EAST 641.11 FEET", SAID POINT ALSO BEING THE TRUE
POINT OF BEGINNING; THENCE NORTHEASTERLY ALONG SAID CENTERLINE TO THE
MOST WESTERLY CORNER OF THE LAND DESCRIBED IN PARCEL 1 OF DEED TO THE
STATE OF CALIFORNIA RECORDED AUGUST 12, 1957 IN BOOK 4002, PAGE 77 OF
OFFICIAL RECORDS OF SAID ORANGE COUNTY; THENCE SOUTHEASTERLY AND
NORTHEASTERLY ALONG THE BOUNDARY OF SAID LAST MENTIONED LAND, TO THE
NORTHWESTERLY CORNER OF THE LAND DESCRIBED IN PARCEL 1 OF DEED TO THE
STATE OF CALIFORNIA RECORDED OCTOBER 17, 1967 IN BOOK 8406, PAGE 469 OF
SAID OFFICIAL RECORDS; THENCE SOUTHERLY ALONG THE WESTERLY LINE OF SAID
LAST MENTIONED LAND TO THE SOUTHWESTERLY CORNER OF SAID LAST MENTIONED
LAND, SAID CORNER BEING A POINT ON THE COURSE HEREINABOVE CITED AS
"NORTH 88 DEGREES 43' 40" WEST 1648.31 FEET"; THENCE, ALONG SAID COURSE
NORTH 88 DEGREES 43' 40" WEST TO THE TRUE POINT OF BEGINNING.
PARCEL 3:
THAT PORTION OF THE NORTHWEST QUARTER OF SECTION 361 TOWNSHIP 7 SOUTH,
RANGE 8 WEST, SAN BERNARDINO MERIDIAN, ACCORDING TO THE OFFICIAL PLAT
FILED IN THE DISTRICT LAND OFFICE, MAY 19, 1873, DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE CENTER LINE OF THE STATE HIGHWAY, AS
CONVEYED TO THE STATE OF CALIFORNIA BY DEED RECORDED MARCH 22, 1916 IN
BOOK 281, PAGE 245 OF DEEDS, SAID POINT BEING THE EASTERLY CORNER OF
THAT CERTAIN ONE ACRE PARCEL OF LAND CONVEYED TO GUY WILLIAMS BY DEED
RECORDED SEPTEMBER 11, 1916 IN BOOK 288, PAGE 90 OF DEEDS; THENCE, FROM
SAID POINT OF BEGINNING, SOUTH 51 DEGREES 11' EAST ALONG SAID CENTER
LINE, 364.58 FEET; THENCE SOUTH 33 DEGREES 26' 00" EAST 196.05 FEET;
THENCE SOUTH 16 DEGREES 06' 00" EAST 116.01 FEET; THENCE SOUTH 3 DEGREES
56' 00" EAST 253.31 FEET; THENCE SOUTH 13 DEGREES 19' 00" WEST 202.37
FEET; THENCE SOUTH 79 DEGREES 53' 30" WEST 32.05 FEET TO A POINT, SAID
POINT BEING THE TRUE POINT OF BEGINNING OF THIS DESCRIPTION; THENCE,
FROM SAID TRUE POINT OF BEGINNING, SOUTH 10 DEGREES 06' 30" EAST 64.00
FEET; THENCE SOUTH 79 DEGREES 53' 30" WEST 24.00 FEET; THENCE NORTH 10
A-3
0
OR -1570738
DEGREES 06' 30" WEST 64.00 FEET; THENCE NORTH 79 DEGREES 53' 30" EAST
24.00 FEET TO THE TRUE POINT OF BEGINNING.
EXCEPTING THEREFROM, AN UNDIVIDED 149/200THS INTEREST IN AND TO THE
PUMPING PLANT SITE, THE WATER DEVELOPED THEREON, THE PUMPING PLANT, AND
ALL APPURTENANCES THERETO; SAID PUMPING PLANT SITE BEING DESCRIBED
ABOVE.
PARCEL 4:
AN EASEMENT FOR ROAD PURPOSES OVER THAT PORTION OF THE NORTHWEST QUARTER
OF SECTION 36, TOWNSHIP 7 SOUTH, RANGE 8 WEST, SAN BERNARDINO MERIDIAN,
ACCORDING TO THE OFFICIAL PLAT FILED IN THE DISTRICT LAND OFFICE, MAY
19, 1873, DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE CENTER LINE OF THE STATE HIGHWAY, AS
CONVEYED TO THE STATE OF CALIFORNIA BY DEED RECORDED MARCH 22, 1916 IN
BOOK 281, PAGE 245 OF DEEDS, SAID POINT BEING THE EASTERLY CORNER OF
THAT CERTAIN ONE ACRE PARCEL OF LAND CONVEYED TO GUY WILLIAMS BY DEED
RECORDED SEPTEMBER 11, 1916 IN BOOK 288, PAGE 90 OF DEEDS; THENCE, FROM
SAID POINT OF BEGINNING, SOUTH 51 DEGREES 11' EAST ALONG SAID CENTER
LINE, 364.58 FEET; THENCE SOUTH 33 DEGREES 26' 00" EAST 196.05 FEET;
THENCE SOUTH 16 DEGREES 06' 00" EAST 116.01 FEET; THENCE SOUTH 3 DEGREES
56' 00" EAST 253.31 FEET; THENCE SOUTH 13 DEGREES 19' 00" WEST 202.37
FEET; THENCE SOUTH 79 DEGREES 53' 30" WEST 32.05 FEET; THENCE SOUTH 10
DEGREES 06' 30" EAST 64.00 FEET; THENCE NORTH 30 DEGREES 50' 00" EAST
46.42 FEET; THENCE SOUTH 71 DEGREES 13' 40" EAST 118.61 FEET TO THE TRUE
POINT OF BEGINNING OF THIS DESCRIPTION; THENCE SOUTH 84 DEGREES 10' 20"
EAST 140.43 FEET; THENCE SOUTH 34 DEGREES 28' 00" EAST 165.62 FEET;
THENCE SOUTH 75 DEGREES 16' 40" WEST 21.25 FEET; THENCE NORTH 34 DEGREES
28' 00" WEST 162.30 FEET; THENCE NORTH 84 DEGREES 10' 20" WEST 147.48
FEET; THENCE NORTH 73 DEGREES 51' 20" EAST 26.73 FEET TO THE TRUE POINT
OF BEGINNING.
PARCEL 5:
AN UNDIVIDED 51/200THS INTEREST IN AND TO THE PUMPING PLANT SITE, THE
PUMPING PLANT, AND ALL APPURTENANCES THERETO, TO BE USED FOR DOMESTIC
PURPOSES UPON AND/OR TO IRRIGATE THE LAND DESCRIBED IN THE DEED FROM R.
Y. WILLIAMS AND OTHERS, TO ROBERT SCOTT AND WIFE, RECORDED OCTOBER 21,
1919 IN BOOK 344, PAGE 307 OF DEEDS; SAID PUMPING PLANT SITE BEING
DESCRIBED AS FOLLOWS:
THAT PORTION OF SECTION 36, TOWNSHIP 7 SOUTH, RANGE 8 WEST, SAN
BERNARDINO BASE AND MERIDIAN, DESCRIBED AS FOLLOWS:
A-4
OR -1570738
BEGINNING AT A POINT IN THE WESTERLY BOUNDARY LINE OF LAND DESCRIBED IN
PARCEL V OF A DECREE OF DISTRIBUTION, A CERTIFIED COPY BEING RECORDED
AUGUST 24, 1956 IN BOOK 3623, PAGE 542 OF OFFICIAL RECORDS, SAID POINT
BEING SOUTH 16 DEGREES 11' 50" EAST 275.50 FEET FROM THE MOST WESTERLY
CORNER OF SAID PARCEL V; THENCE SOUTH 16 DEGREES 11' 50" EAST 25.00
FEET; THENCE NORTH 73 DEGREES 48' 10" EAST 25.00 FEET; THENCE NORTH 16
DEGREES 11' 50" WEST 25.00 FEET; THENCE SOUTH 73 DEGREES 48' 10" WEST
25.00 FEET TO THE POINT OF BEGINNING.
PARCEL 6:
AN UNDIVIDED 51/200THS INTEREST IN AND TO THE FOLLOWING:
THE RIGHT OF WAY FOR AND THE RIGHT TO CONSTRUCT, USE, MAINTAIN, REPAIR,
REPLACE AND CHANGE THE SIZE OF AN UNDERGROUND PIPE LINE FOR THE
CONVEYANCE OF WATER FOR DOMESTIC AND/OR IRRIGATION PURPOSES OVER, UNDER
AND ACROSS A STRIP OF LAND PARTICULARLY DESCRIBED AS FOLLOWS:
THAT PORTION OF SECTION 36, TOWNSHIP 7 SOUTH, RANGE 8 WEST, SAN
BERNARDINO BASE AND MERIDIAN, DESCRIBED AS FOLLOWS:
COMMENCING AT THE MOST WESTERLY CORNER OF LAND DESCRIBED IN PARCEL V OF
A DECREE OF DISTRIBUTION, A CERTIFIED COPY BEING RECORDED AUGUST 24,
1956 IN BOOK 3623, PAGE 542 OF OFFICIAL RECORDS; THENCE SOUTH 16 DEGREES
11' 50" EAST 275.50 FEET ALONG THE WESTERLY BOUNDARY LINE OF SAID PARCEL
V; THENCE NORTH 73 DEGREES 48' 10" EAST 22.50 FEET TO THE TRUE POINT OF
BEGINNING; THENCE NORTH 73 DEGREES 48' 10" EAST 2.50 FEET; THENCE SOUTH
16 DEGREES 11' 50" EAST 12.50 FEET; THENCE NORTH 73 DEGREES 48' 10" EAST
2.50 FEET; THENCE NORTH 16 DEGREES 11' 50" WEST 287.97 FEET TO THE
NORTHWESTERLY BOUNDARY LINE OF SAID PARCEL V; THENCE SOUTH 73 DEGREES
51' 20" WEST 5.00 FEET ALONG SAID NORTH-WESTERLY LINE; THENCE SOUTH 16
DEGREES 11' 50" EAST 275.48 FEET TO THE TRUE POINT OF BEGINNING.
PARCEL 7:
THAT PORTION OF THE NORTH HALF OF SECTION 36, TOWNSHIP 7 SOUTH, RANGE 8
WEST, SAN BERNARDINO MERIDIAN, ACCORDING TO THE OFFICIAL PLAT FILED IN
THE DISTRICT LAND OFFICE, MAY 19, 1873, DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE CENTERLINE OF THE STATE HIGHWAY, AS
DESCRIBED IN DEED RECORDED MARCH 22, 1916 IN BOOK 281, PAGE 245 OF
DEEDS, RECORDS OF ORANGE COUNTY, CALIFORNIA, WHICH POINT BEARS SOUTH 26
DEGREES 40' 00" WEST 100.24 FEET FROM THE NORTHEASTERLY TERMINUS OF A
COURSE IN SAID DEED CITED AS "NORTH 26 DEGREES 40' 00" EAST 641.11
FEET"; THENCE, ALONG A CURVE CONCAVE TO THE WEST, HAVING A RADIUS OF
700.00 FEET, THROUGH A CENTRAL ANGLE OF 36 DEGREES 57' 00", AN ARC
A-5
OR -1570738
DISTANCE OF 451.43 FEET TO THE INTERSECTION WITH SAID CENTERLINE;
THENCE, ALONG SAID CENTERLINE, SOUTH 10 DEGREES 17' 00" EAST 100.24 FEET
TO THE BEGINNING OF A TANGENT CURVE CONCAVE WESTERLY, HAVING A RADIUS OF
400.00 FEET; THENCE SOUTHERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE
OF 36 DEGREES 57' 00", AN ARC DISTANCE OF 257.96 FEET TO SAID
NORTHEASTERLY TERMINUS; THENCE, ALONG SAID COURSE SOUTH 26 DEGREES 40'
00" WEST 100.24 FEET TO THE POINT OF BEGINNING.
A-6
• EXHIBIT "A" •
OR -1572609
ALL THAT CERTAIN LAND SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF
ORANGE, CITY OF SAN JUAN CAPISTRANO, DESCRIBED AS FOLLOWS:
PARCEL A: HOMESTEAD TRACT.
THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 251 TOWNSHIP 7 SOUTH,
RANCH 8 WEST, AND THAT PORTION OF THE NORTHWEST QUARTER OF SECTION 36,
TOWNSHIP 7 SOUTH, RANGE 8 WEST, BOTH OF SAN BERNARDINO MERIDIAN,
ACCORDING TO THAT OFFICIAL PLAT FILED IN THE DISTRICT LAND OFFICE MAY
19, 1873, DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT IN THE CENTERLINE OF THE STATE HIGHWAY, AS
DESCRIBED IN THE DEED TO THE STATE OF CALIFORNIA, RECORDED MARCH 22,
1916 IN BOOK 281, PAGE 245 OF DEEDS, RECORDS OF ORANGE COUNTY,
CALIFORNIA, SAID POINT BEING THE EASTERLY CORNER OF THAT CERTAIN ONE
ACRE PARCEL OF LAND CONVEYED TO GUY WILLIAMS BY DEED RECORDED SEPTEMBER
11, 1916 IN BOOK 288, PAGE 90 OF SAID DEEDS; THENCE SOUTH 51 DEGREES 11'
00" EAST ALONG SAID CENTERLINE 251.95 FEET TO THE TRUE POINT OF
BEGINNING; THENCE SOUTH 38 DEGREE 49' 00" WEST 158.00 FEET; THENCE SOUTH
51 DEGREES 11' 00" EAST 97.00 FEET; THENCE NORTH 38 DEGREES 49' 00" EAST
158.00 FEET TO A POINT IN THE CENTERLINE OF SAID CALIFORNIA STATE
HIGHWAY; THENCE NORTH 51 DEGREES 11' 00" WEST 97.00 FEET ALONG THE
CENTERLINE OF SAID CALIFORNIA STATE HIGHWAY TO THE TRUE POINT OF
BEGINNING.
PARCEL B: CHRISTMAS TREE TRACT.
THE FOLLOWING DESCRIBED TWO (2) PARCELS OF LAND OUT OF SECTIONS 25 AND
36, TOWNSHIP 7 SOUTH, RANGE 8 WEST, SAN BERNARDINO MERIDIAN, IN ORANGE
COUNTY, CALIFORNIA:
PARCEL B-1:
THOSE PORTIONS OF SECTIONS 25 AND 36, TOWNSHIP 7 SOUTH, RANGE 8 WEST,
SAN BERNARDINO BASE AND MERIDIAN, AND THAT PORTION OF LOT 6 OF TRACT NO.
112, AS SHOWN ON A MAP RECORDED IN BOOK Il, PAGE 12 OF MISCELLANEOUS
MAPS, RECORDS OF ORANGE COUNTY, CALIFORNIA, DESCRIBED AS FOLLOWS:
BEGINNING AT THE INTERSECTION OF THE SOUTHEASTERLY LINE OF SAID IAT 6
WITH A LINE PARALLEL WITH AND DISTANT 40.00 FEET NORTHEASTERLY, MEASURED
AT RIGHT ANGLES, FROM THE CENTER LINE OF THE CALIFORNIA STATE HIGHWAY,
AS DESCRIBED IN THE DEED RECORDED MARCH 22, 1916 IN BOOK 281, PAGE 245
OF DEEDS, RECORDS OF SAID COUNTY;
A-1
0 0
OR -1572609
THENCE SOUTH 51 DEGREES 11' 00" EAST, 131.98 FEET ALONG SAID PARALLEL
LINE TO THE NORTHWESTERLY LINE OF THAT CERTAIN 20.00 -FOOT WIDE STRIP OF
LAND DESCRIBED IN A DEED TO THE STATE OF CALIFORNIA, RECORDED MARCH 30,
1934 IN BOOR 660, PAGE 483 OF OFFICIAL RECORDS; THENCE NORTH 38 DEGREES
49' 00" EAST, 10.00 FEET TO THE MOST NORTHERLY CORNER OF SAID 20.00 FOOT
WIDE STRIP OF LAND; THENCE SOUTH 51 DEGREES 11' 00" EAST 911.91 FLET TO
THE MOST EASTERLY CORNER OF SAID 20.00 FOOT WIDE STRIP OF LAND; THENCE
NORTH 38 DEGREES 49' 00" EAST, 14.76 FEET ALONG THE NORTHEASTERLY
PROLONGATION OF THE SOUTHEASTERLY LINE OF SAID STRIP OF LAND; THENCE
NORTH 38 DEGREES 49' 01" WEST, 293.39 FEET; THENCE NORTH 46 DEGREES 20'
54" WEST, 368.64 FEET TO THE BEGINNING OF A NON -TANGENT CURVE CONCAVE
SOUTHWESTERLY AND HAVING A RADIUS OF 2870.00 FEET, A RADIAL LINE TO THE
CENTER OF SAID CURVE BEARS SOUTH 40 DEGREES 32' 45' WEST; THENCE
NORTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 1 DEGREE 43'
45", A DISTANCE OF 86.62 FEET; THENCE TANGENT TO SAID CURVE NORTH 51
DEGREES 11' 00" WEST, 680.35 FEET; THENCE SOUTH 38 DEGREES 49' 00" WEST,
108.21 FEET TO THE BEGINNING OF A NON -TANGENT CURVE CONCAVE
NORTHEASTERLY HAVING A RADIUS OF 2560.00 . FEET, A RADIAL LINE TO THE
CENTER OF SAID CURVE BEARS NORTH 44 DEGREES 18' 37" EAST; THENCE
SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 5 DEGREES 29'
37", A DISTANCE OF 245.46 FEET TO THE POINT OF TANGENCY WITH THE FIRST
HEREIN MENTIONED PARALLEL LINE: THENCE SOUTH 51 DEGREES 111 00" EAST,
131.89 FEET TO THE POINT OF BEGINNING.
EXCEPTING THAT PORTION DEEDED TO THE ORANGE COUNTY FLOOD CONTROL
DISTRICT, DESCRIBED AS FOLLOWS:
A STRIP OF LAND, 170 FEET WIDE, IN THOSE PORTIONS OF SECTIONS 25 AND 36,
TOWNSHIP 7 SOUTH, RANGE 6 WEST, SAN BERNARDINO MERIDIAN, ACCORDING TO
THE OFFICIAL PLAT OF SAID LAND FILED IN THE DISTRICT LAND OFFICE, AS
DESCRIBED IN THE DEED TO CHARLES R. WILLIAMS, RECORDED JULY 12, 1961 IN
BOOR $782, PAGE 373 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY, SAID STRIP LYING 85.00 FEET ON EACH SIDE OF A
LINE HAVING A BEARING OF NORTH 5 DEGREES 17' 04" EAST AND PASSING
THROUGH A POINT OF THE CENTER LINE OF THAT CERTAIN STRIP OF LAND, 60
FEET WIDE, DESCRIBED IN DEED TO THE STATE OF CALIFORNIA, RECORDED MARCH
22, 1916 IN BOOR 281, PAGE 245 OF DEEDS, IN THE OFFICE OF SAID COUNTY
RECORDER, SAID BEING DISTANT ALONG SAID CENTER LINE NORTH 51 DEGREES 11'
00" WEST, 267.98 FEET FROM A LEAD AND TACK MARRING THE NORTHERLY
TERMINUS OF THAT CERTAIN -CURVE CITED AS HAVING A RADIUS OF 800 FEET, A
CENTRAL ANGLE OF 40 DEGREES 54' AND AN ARC LENGTH OF 571.07 FEET IN THE
CENTER LINE OF THAT CERTAIN STRIP OF LAND, 60 FEET WIDE, DESCRIBED IN
DEED TO THE STATE OF CALIFORNIA, RECORDED JANUARY 24, 1925, IN BOOR 557,
PAGE 305 OF SAID DEEDS.
A-2
0 0
OR -1372609
EXCEPT THAT PORTION THEREOF INCLUDED WITHIN THAT CERTAIN STRIP OF LAND,
100 FEET WIDE, DESCRIBED IN DEED TO THE ORANGE COUNTY FLOOD CONTROL
DISTRICT, RECORDED AUGUST 27, 1937 IN BOOK 898, PAGE 576 OF SAID
OFFICIAL RECORDS.
PARCEL B-2:
A NON-EXCLUSIVE EASEMENT FOR PUBLIC UTILITY AND PIPE LINE PURPOSES
INCLUDING THE RIGHT TO REPLACE, REMOVE, REPAIR AND MAINTAIN SAID PIPE
LINE OR LINES OVER, THROUGH, UNDER AND ALONG THAT PORTION OF IAT 6 OF
TRACT NO. 112, AS SHOWN ON A MAP RECORDED IN BOOK 11, PAGE 12 OF
MISCELLANEOUS MAPS, RECORDS OF ORANGE COUNTY, CALIFORNIA, DESCRIBED AS
FOLLOWS:
COMMENCING AT THE INTERSECTION OF THE SOUTHEASTERLY LINE OF SAID LOT 6
WITH A LINE PARALLEL WITH AND DISTANT 40.00 FEET NORTHEASTERLY, MEASURED
AT RIGHT ANGLES FROM THE CENTER LINE OF THE CALIFORNIA STATE HIGHWAY, AS
DESCRIBED IN A DEED RECORDED MARCH 22, 1916 IN BOOK 281, PAGE 245 OF
DEEDS; THENCE NORTH 51 DEGREES 111 00" WEST 131.89 FEET TO THE BEGINNING
OF A TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 2560.00
FEET; THENCE NORTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF
5 DEGREES 29' 37" A DISTANCE OF 245.46 FEET, SAID POINT BEING THE TRUE
POINT OF BEGINNING; THENCE NORTH 38 DEGREES 49' 00" EAST 108.21 FEET;
THENCE NORTH 51 DEGREES 11' 00" WEST 5.00 FEET; THENCE SOUTH 38 DEGREES
49' 00" WEST 107.73 FEET TO THE BEGINNING OF A CURVE CONCAVE
NORTHEASTERLY HAVING A RADIUS OF 2560.00 FEET, A RADIAL LINE THROUGH
SAID POINT BEARS SOUTH 44 DEGREES 25' 22" WEST; THENCE SOUTHEASTERLY
ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 0 DEGREES 06' 45" A DISTANCE
OF 5.03 FEET TO THE TRUE POINT OF BEGINNING.
A-3
"lammtempi:*•
THIS RIDER is attached to and forms a part of that
certain Deed of Trust with Assignment of Rents made
1992 between SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, a public body corporate and politic
created under the laws of the State of California, as Trustor,
FIRST AMERICAN TITLE INSURANCE COMPANY, a California
corporation, as Trustee, and the CITY OF SAN JUAN CAPISTRANO, a
municipal corporation organized and existing under the laws of
the State of California, as Beneficiary.
The said Deed of Trust is hereby modified/supplemented
(and as modified/supplemented is hereinafter referred to as
"this Deed of Trust") in the following particulars only:
i 4R
1. Promptly, upon request, Beneficiary shall cooperate
with Trustor and/or shall execute and/or cause Trustee to
execute:
1.1 Certificates consenting to the preparation and
recordation of a plan dividing the described property, or any
portion thereof, as Trustor shall request, provided such
division is approved by Beneficiary, which approval shall not
be unreasonably withheld, together with certificates on any
such plan or separate instruments to make dedications or offers
of dedication required by the applicable governmental
authorities for such subdivision;
1.2 Consents and/or partial releases and
reconveyances with respect to the grant of easements to public
and/or private utility companies required to provide utility
services to improvements constructed on or to be constructed on
the described property or within the right of way of any street
shown on a recorded subdivision plan; and
1.3 Documents that may be required in connection with
obtaining any governmental approval, permit and/or consent,
zone change, variance, conditional use permit, environmental
impact report or similar matter.
1.4 Any portion of the described property released
for the purpose of dedication for streets, highways and/or
rights of way shall be without payment of compensation to
Beneficiary.
2. Beneficiary shall cause Trustee to execute partial
releases and reconveyances of any one or more portions of
E
the described real property which need not be contiguous with a
previously released portion, from the lien of this Deed of
Trust upon satisfaction of each of the following conditions
precedent:
2.1 No release shall be had or will be given if an
unrescinded Notice of Default then appears of record.
2.2 Trustor shall have delivered to Trustee and
Beneficiary written demand for any release of a portion of the
described property encumbered by the lien of this Deed of
Trust, which demand shall contain a legal description
identifying the portion to be released; provided, however, that
the foregoing shall be deemed to have occurred with respect to
portions of the property conveyed by Trustor to Beneficiary
when Trustor executes, acknowledges and delivers a grant deed
to Beneficiary for any such portion of the described property.
2.3 Trustor shall not be in default under any term or
condition of the Promissory Note Secured by Deed of Trust which
this Deed of Trust secures.
2.4 Trustor shall concurrently convey to Lender title
to the portion of the property to be released from the lien of
this Deed of Trust.
2.5 Trustor shall also pay all costs and fees in
connection with the releases.
B.
Beneficiary agrees, upon request, to execute or cause
Trustee to execute certificates consenting to the preparation
and recordation of a parcel or tract map ("Parcel Map")
creating a new parcel or parcels comprised of the real property
secured by this Deed of Trust alone or together with adjacent
other real property provided and only if each of the following
conditions are satisfied:
1. Trustor delivers to Beneficiary for recordation
concurrently with the recordation of said parcel or tract map a
new deed of trust (the "New Deed of Trust"), duly executed and
acknowledged, to be recorded against all the real property
described in the parcel or tract map for the purpose of
securing the unpaid balance of principal and accrued interest
of the note presently secured by this Deed of Trust, less any
portion of the property conveyed by Trustor to Beneficiary.
Concurrently with recordation of said New Deed of Trust,
Beneficiary shall reconvey this Deed of Trust.
2. Unless waived by Beneficiary in writing, Trustor shall
deliver to Beneficiary an ALTA lender's policy of title
insurance issued by a reputable title company of Beneficiary's
01/22/92
1133q/2299/053 -2-
selection, in the amount of the note secured by the New Deed of
Trust, insuring Beneficiary's New Deed of Trust in a first lien
position against the real property described in the New Deed of
Trust subject only to:
(i) Non-deliquent general and special real
property taxes and assessments;
(ii) Easements, covenants, conditions restrictions,
reservations, rights of way and other matters of
whatever kind or nature which are of record on the
date of recordation of this Deed of Trust, or which
Beneficiary has previously approved in writing.
(iii) The standard printed exceptions and exclusions
contained in the ALTA policy.
3. No unrescinded Notice of Default then appears of
record.
C. MISCELLANEOUS.
1. If any provision of this Rider or the application
thereof to any person or circumstance shall be invalid or
unenforceable to any extent, the remainder of said Rider and
the application of such provisions to other persons or
circumstances shall not be affected thereby and shall be
enforced to the extent permitted by law.
2. Should it be necessary for any party to commence an
action at law or in equity against the other to enforce the
terms of this Rider set forth herein, the prevailing party
shall have a right to judgment against the losing party for
reasonable attorneys' fees and costs as set by the court,
together with such other relief as may be appropriate.
3. This Rider shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs,
executors, legal representatives, successors and assigns.
9. The agreements contained herein represent the entire
agreement between the parties hereto with respect to the
subject matter dealt with herein. No variation, modification,
or change herein or hereof shall be binding upon any party
hereto unless set forth in a document fully executed by or on
behalf of such party.
D. RIGHT TO ACCELERATE.
In the event that
any part of said property
it is agreed that it will
to purchase, or alienated
01/22/92
1133q/2299/053
the property described herein, or
or any interest therein, is sold or
be sold, conveyed, leased with option
whether voluntarily or by operation
-3-
0 0
of law or otherwise, then at the option of Beneficiary, and
without demand or notice, all obligations secured by this
instrument shall immediately become due and payable.
IN WITNESS WHEREOF the undersigned have executed this
Rider to Deed of Trust the day and year first above written.
SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, a public
body corporate and politic created
under the laws of the State of
California
By: By:
Executive Director Chairman, Board of Directors
"Trustor"
Approved as to form: ATTEST:
Stradling, Yocca, Carlson
& Rauth, Special Counsel
Approved as to form:
City Attorney
01/22/92
1133q/2299/053
City Clerk
Agency Secretary
CITY OF SAN JUAN CAPISTRANO, a
municipal corporation organized
and existing under the laws of the
State of California
By:
Mayor
ATTEST:
City Clerk
-4-
"Beneficiary"
0
STATE OF CALIFORNIA )
ss.
COUNTY OF )
9
On this day of
in the year before me, the undersigned, a Notary Public
in and for said State, personally appeared
personally known to me
(or proved to me on the basis of satisfactory evidence) to be
the person who executed this instrument as the
of the SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY and
acknowledged to me that the SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY executed it.
gnature of Notary Public
Name typed or printed
STATE OF CALIFORNIA
ss.
COUNTY OF
On this day of
in the year before me, the undersigned,
in and for said State, personally appeared
a Notary Public
personally known to me
(or proved to me on the basis of satisfactory evidence) to be
the person who executed this instrument as the
of the CITY OF SAN JUAN CAPISTRANO and acknowledged to me that
the CITY OF SAN JUAN CAPISTRANO executed it.
Signature of Notary Public
Name typed or printed
01/22/92
1133q/2299/053 -5-
_ • 11•] W.. 411 Told, ! area 11*7;-1ZM',1CIul. ►1l 8 : ZIk7J 1.1 4E61 967AEOI
1 l ;#Vlgiqjnxejs M.1 • 3131 jalm Ird,04 U20 4.• ' u SII tl :yI
Written Communication
Report dated December 15, 1992, from the Finance Officer, recommending that a loan agreement
between the City and the Agency be approved transferring funds from the City to the State's
Educational Revenue Allocation Fund, in an amount not to exceed $100,000. The Agency determined
that it was unable to transfer the full allocation of 4303,50635 in tax increment funds to the Educational
Revenue Allocation fund, as required by the 1992 Budget Act and related legislation, and requested that
the City provide the balance through a loan agreement and the execution of a promissory note payable
to the City over a ten-year period
Resolution Approving the Execution of Loan Agreement and Promissory Note:
It was moved by Director Hausdorfer, seconded by Director Jones, that the following Resolution be
adopted:
u
AUTHORIZING THE EXECUTION OF A PROMISSORY NOTE - A
RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING A LOAN AGREEMENT
BETWEEN THE CITY OF SAN JUAN CAPISTRANO AND THE SAN JUAN
CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY, AND
APPROVING AND AUTHORIZING THE EXECUTION OF A PROMISSORY
NOTE FOR THE REPAYMENT THEREOF
The motion carried by the following vote:
AYES: Directors Campbell, Hausdorfer, Jones, Vasquez, and Chairman Nash
NOES: None
ABSENT: None
The Board recessed to the Council meeting at 8:34 p.m. and reconvened in Closed Session at 9:45 p.m. for
discussion of litigation matters per Government Code Section 54956.9(x) (Committee to Restore Integrity v. City,
Juliany. Negete. Can Juan Mobile Estates y. San J= l• ra9kWMtnexposure to initiation of litigation per
a�,avaa�r
Government Code See&= 54956.9(b) and (c); and labor negotiations per Government Code Section 54957.6,
the Agency Secretary being excused therefrom, and reconvened at 12.•00 a.m., December 16.
CRA Minutes -3- 12/15/92
AGENDA ITEM• February 18, 1992
TO: Stephen B. Julian, Executive Director
Community Redevelopment Agency
FROM: David P. Bentz, Finance Officer
Community Redevelopment Agency
SUBJECT: Resolution Approving Loan Agreement Between the City and the
Community Redevelopment Agency and Approving and Authorizing the
Execution of a Promissory Note
------------------------------------------------------------------------------
-----------------------------------------------------------------------------
RECOMMENDATION:
By motion, adopt resolution
SITUATION:
The Redevelopment Agency adopted a Redevelopment Plan for the Central Project under
Health and Safety Code Section 33000 and the City adopted several ordinances approving
and amending the Plan. Under the redevelopment plan the City shall aid and cooperate
with the Agency in carrying out the Project.
This loan agreement and investment of Bond Proceeds is limited to a three year time
period at an interest equal to that paid by the State of California Local Agency
Investment Fund.
The purpose of this transaction is to allow the Redevelopment Agency to use its powers
of assemblying land in acquisition of the Swanner parcels and the ultimate use of these
parcels for the benefit of the Open Space Program.
COMMISSION/BOARD REVIEW, RECOMMENDATION:
N/A
FINANCIAL CONSIDERATIONS:
All costs for the Swanner Acquisition will be paid from bond proceeds.
NOTIFICATION:
Stradling, Yocca, Carlson and Rauth
ALTERNATE ACTIONS:
I. Adopt Resolution.
2. Request additional information from staff. f�
FOR CITY COUNCIL AGEN —]
C�
• •
AGENDA ITEM -2- February 18, 1992
RECOMMENDATION:
By motion, adopt resolution
Respectfully submitted,
David P. Bentz
DPB:ja
RESOLUTION NO. CRA 92-2-18-1
A RESOLUTION OF THE SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY, APPROVING A LOAN AGREEMENT
BETWEEN THE CITY OF SAN JUAN CAPISTRANO AND THE SAN
JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY
AND APPROVING AND AUTHORIZING THE EXECUTION OF A
PROMISSORY NOTE FOR THE REPAYMENT THEREOF
(SWANNER)
WHEREAS, by Ordinance No. 488 adopted July 12, 1983, Ordinance No. 509
adopted on May 15, 1984, Ordinance No. 547 adopted on July 16, 1985 and Ordinance Nos.
582 and 583 adopted on August 19, 1986, the City Council of the City of San Juan
Capistrano (the "City Council") approved and amended the Redevelopment Plan (the
"Plan") for the San Juan Capistrano Redevelopment Project (the "Project Area") of the
San Juan Capistrano Community Redevelopment Agency (the "Agency"); and,
WHEREAS, the City of San Juan Capistrano (the "City") desires at this time to
invest and loan a portion of the proceeds of its $4,995,000 Series 1990 General Obligation
Bonds (Open Space Program) and its $6,955,000 Series A of 1992 General Obligation
Bonds (Open Space Program) pursuant to a loan agreement in substantially the form
attached hereto as Attachment "A" (the "Loan Agreement") and secured by a promissory
note and deed of trust of the Agency (Collectively, the "Note") in substantially the forms
attached hereto as Attachment "B," which proceeds may be used by the Agency solely for
the acquisition of certain real property located within the Project Area and described in
the Note and related costs; and,
WHEREAS, the Agency has determined that such investment and loan by the
City and borrowing by the Agency as evidenced in the Agency Note will promote the
public health, safety and welfare and benefit the Project Area; and,
WHEREAS, the Agency desires to evidence the principal amount and the
interest amount of such investment in the Loan Agreement and in the Note to assure
repayment of the total indebtedness of not to exceed $7,200,000.00 plus interest thereon,
to the City (the "Note Amount").
NOW, THEREFORE, BE IT RESOLVED, by the San Juan Capistrano
Community Redevelopment Agency as follows:
SECTION 1. The above recitals are true and correct.
SECTION Z The execution and delivery of the Loan Agreement and
Note is in the best interests of the Agency and will promote the public health, safety and
welfare.
SECTION 3. The Loan agreement is hereby approved. The Chairman
and Executive Director are hereby authorized to execute the Loan agreement on behalf
of the Agency, together with such changes thereto as are approved by Bond Counsel and
the Executive Director of the Agency, execution thereof being conclusive evidence of
the Agency's approval of such changes.
-1-
SECTION 4.
authorizes and directs the
providing for the repayment
thereon, in substantially the
with such changes thereto &
of the Agency, execution th
such changes.
0
The Note is hereby approved. The Agency hereby
Chairman and Executive Director to execute the Note,
3y the Agency to the City of the Note Amount plus interest
form attached hereto on behalf of the Agency, together
are approved by Bond Counsel and the Executive Director
reof being conclusive evidence of the Agency's approval of
PASSED, APPROVED, AND ADOPTED this 18th day
of February 1992.
KENNETH E. FRIESS, CHAIRMAN
ATTEST:
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, Secretary of the San Juan Capistrano Community
Redevelopment Agency, DO HEREBY CERTIFY that the foregoing is a true and correct
copy of Resolution No. CRA 92-2-18-1 adopted by the Board of Directors of the
San Juan Capistrano Community Redevelopment Agency, at a regular meeting thereof
held on the 18th day of February , 1992, by the following vote:
AYES: Directors Hausdorfer, Jones, Harris, Vasquez and
Chairman Friess
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL)
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