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RCR BRISTOL, LLC (2)
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RCR BRISTOL, LLC (2)
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Entry Properties
Last modified
11/21/2024 10:53:56 AM
Creation date
11/14/2024 11:13:46 AM
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Contracts
Company Name
RCR BRISTOL, LLC
Contract #
A-2024-182
Agency
Planning & Building
Council Approval Date
10/15/2024
Notes
PERM
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JOINDER <br /> Unless expressly defined herein, all capitalized terms used herein shall have the meanings ascribed to <br /> such terms in the Development Agreement(the"Development Agreement")to which this Joinder is <br /> attached. <br /> The undersigned Fee Owners are hereby entering into this Joinder for the sole purpose of subjecting their <br /> fee title to the Property to the burden and effect of the Development Agreement and, upon the recording <br /> of the Development Agreement in the Official Records of Orange County, fee title to the Property shall be <br /> encumbered by all of the terms and conditions of the Development Agreement; provided, however, <br /> notwithstanding the foregoing, the City acknowledges and agrees that unless the Fee Owners hereafter <br /> execute an Assignment and Assumption Agreement in a form approved by Fee Owners and the City in <br /> the manner described in Section 2.5.1 of the Development Agreement(the"Approved Form"), the Fee <br /> Owners (including members, partners, officers, agents or representatives of Fee Owners) shall have no <br /> liability, rights or obligations under the Development Agreement except for such rights or obligations <br /> expressly set forth for the benefit or burden of Fee Owners under the Development Agreement. Unless <br /> and until an Assignment and Assumption Agreement, in the Approved Form, is executed by the Fee <br /> Owners and City,City shall have no recourse against the Fee Owners or the fee title to the Property. Fee <br /> Owners shall receive notice of default and have the right, but not obligation,to cure any default as <br /> permitted in Sections 9.1.2 and 9.1.3 of the Development Agreement. Fee Owners and their lenders shall <br /> be entitled to receive a Certificate of Compliance upon request as provided in Section 10.20 of the <br /> Development Agreement. In addition, in the event that the Ground Lease is terminated, Fee Owners shall <br /> thereafter have the right to terminate the Development Agreement upon written notice to City, in which <br /> event the City shall cause to record a Termination Release with the Orange County Recorder. For <br /> avoidance of doubt, no modification of the Development Agreement pursuant to Section 2.7 of the <br /> Development Agreement shall limit or impair the rights of Fee Owners under this Joinder without the <br /> consent of Fee Owners. <br /> Greenville Ranch, LLC, • <br /> a Californi limited liability company <br /> By: <br /> Alice Z. Calle , President <br /> By: � Z • <br /> Louise A. Callens, Secretary/Treasurer <br /> Executed as of 0 cko bee- 1 ,2024 <br /> • <br /> • <br /> -33- <br /> Exhibit 4 <br />
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