The URL can be used to link to this page

Home My WebLink AboutC&C DEVELOPMENT COMPANY, LLC AND ORANGE HOUSING DEVELOPMENT CORPORATION (3)INSURANCE NOT REIUIRED WORK MAY PROCEED sr. 2 5C2018 IL OFFICIAL BUSINESS f, � DNV Document entitled to no pwty: e f�roj?recording fee per Government Code Section 6103 Recording Requested by and When Recorded Return to: C&C DEPOT COMMERCIAL LLC c/o C & C Development Co., LLC 14211 Yorba St., Ste. 200 Tustin, CA 92780. APN: 398-202-13 A-2018-235-02 Lr SPACE ABOVE THIS LINE FOR RECORDER'S USE PARTIAL RELEASE AND TERMINATION OF CITY OF SANTA ANA LOAN AGREEMENT AND AFFORDABILITY RESTRICTIONS (Depot at Santiago) This Partial Release and Termination (this "Release") is entered into as of October _, 2018, by and between Depot at Santiago, L.P., a California limited partnership (the "Developer"), and the City of Santa Ana, a charter city and municipal corporation (the "City"), with respect to that certain real property located in the City of Santa Ana, County of Orange, State of California, more particularly described in the attached Exhibit A (the "Released Property") and with reference to the following facts: A. That certain Loan Agreement between the City and the Developer, dated July 11, 2013, was recorded in the Official Records of Orange County ("Official Records") as Instrument No. 2013000476765 on August 9, 2013, as modified (the "Loan Agreement"). B. That certain Affordability Restrictions on Transfer of Property between the City and the Developer, dated July 11, 2013, was recorded in the Official Records as Instrument No. 2013000476766 on August 9, 2013, as modified (the "Affordability Restrictions"). C. The Developer is now transferring the Released Property to a new owner for use as commercial space and the City and the Developer agree that the Released Property no longer needs to be subject to the Loan Agreement and the Affordability Restrictions. NOW, THEREFORE, it is hereby declared and understood as follows: City Release 1076\49\2456931.1 1. Upon recordation of this Release in the Official Records, the Loan Agreement and the Affordability Restrictions are hereby terminated as to the Released Property and released as encumbrances on the Released Property. It is expressly understood that this is a partial release and that it shall not affect or impact the property remaining under the Loan Agreement and the Affordability Restrictions. 2. This Release may be signed in multiple counterparts, which, when signed by all parties, shall constitute a binding Release. [SIGNATURES ON FOLLOWING PAGES] City Release 1076\49\2456931.1 IN WITNESS WHEREOF, the Developer and the City executed this Release as of the day first above written. DEVELOPER: DEPOT AT SANTIAGO, L.P., a California limited partnership By: OHDC DEPOT, LLC, a California limited liability company, its managing general partner By: Orange Housing Development Corporation, a California nonprofit public benefit corporation, its sole member By:� Eunice Bo ert Chief Executive Officer By: C&C DEPOT, LLC, a California limited liability company, its administrative general partner By: C & C Development Co., LLC, a California limited liability company, its sole member By: Todd R. Cottle, Trustee of the 2007'Todd R. Cottle and Jennifer N. Cottle Revocable Trust, its member By: Barry A. C , rustee of The Cottle Family Trust Dated 3/8/1987, its member [SIGNATURES MUST BE NOTARIZED] City Release 3 1076\49\2456931.1 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of STATE OF CALIFORNIA COUNTY OF On G( er (� jr)Ak , before wvt Tl'' Notary Public, personally appeared 10 A who proved to me on the basis of satisfactory evidence to be the person(s) w ose name(s) i re subscribed to the within instrument and acknowledged to me that he/she/a ecuted the same in his/her/their authorized capacity(ies), and that by his/her elr ignature(s) on the instrument the person(s), or the entity upon behalf of which t e 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. WITNESS my hand and official seal. JOANNE NO Commissionssion # 2128028 a: Notary Public • California Z Orange County M Comm. Expires Sep 29, 2019+ City Release 1076\49\2456931.1 Nam 6AVl �i No ry Public A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of STATE OF CALIFORNIA COUNTY OF On , before me, Notary Public, personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/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. WITNESS my hand and official seal. Name: Notary Public City Release 5 1076\49\2456931.1 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of STATE OF CALIFORNIA COUNTY OF On , before me, Notary Public, personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/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. WITNESS my hand and official seal. IM1i -3 Notary Public City Release 6 1076\49\2456931.1 City CITY OF SANTA ANA, a charter city and municipal corporation By: Raul Godi z II Name: City Manager Its: [SIGNATURES MUST BE NOTARIZED] City Release 7 1076\49\2456931.1 ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document, to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Orange ) On October 29, 2018 before me, Rosa A. Flores , Notary Public (insert name and title of the officer) personally appeared Raul Godinez II. who proved tome on the basis of satisfactory evidence to be the person(o) whose name(s) is tare subscribed to the within instrument and acknowledged to me that he/shefthetexecuted the same in his/her/their authorized capacity(iee), and that by hisPmmq+he{r signaturefx' on the instrument the person(o, or the entity upon behalf of which the personK 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. WITNESS my hand and official seal. OSA A, FLORES ,�.. Notary Public - California z ro'•tw Orange County Commission:2228450 MYCOMM m. Expires Feb 7, 2022 ' Signature (41L� Vt • (��w (Seal) �w EXHIBIT A LEGAL DESCRIPTION OF RELEASED PROPERTY PARCEL 2 OF PARCEL MAP NO. 2013-170, IN THE CITY OF SANTA ANA, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP FILED IN BOOK 390, AT PAGES 1 THROUGH 6 INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPTING AND RESERVING FROM BLOCK 52 UNTO SOUTHERN PACIFIC RAILROAD COMPANY, A CORPORATION, THEIR SUCCESSORS AND ASSIGNS, ALL PETROLEUM, OIL, NATURAL GAS AND PRODUCTS DERIVED THEREFROM WITHIN OR UNDERLYING SAID LAND, OR THAT MAY BE PRODUCED THEREFROM AND ALL RIGHTS THERETO; PROVIDED, HOWEVER, THAT SAID SOUTHERN PACIFIC RAILROAD COMPANY, A CORPORATION, THEIR SUCCESSORS AND ASSIGNS, SHALL NOT USE THE SURFACE OF SAID LAND IN THE EXERCISE OF ANY OF SAID RIGHTS, BUT SHALL HAVE THE RIGHT TO ENTER INTO AND USE THE SUB- SURFACE OF SAID LAND BY LATERAL OR SLANT DRILLING AND BORING FOR SUCH PURPOSES; PROVIDED, FURTHER, THAT IN SO DOING SAID SOUTHERN PACIFIC RAILROAD COMPANY, A CORPORATION, THEIR SUCCESSORS OR ASSIGNS, SHALL NOT DISTURB THE SURFACE OF SAID LAND, OR ANY IMPROVEMENTS THEREON, OR REMOVE OR IMPAIR THE LATERAL OR SUBJECT SUPPORT OF SAID LAND, OR ANY IMPROVEMENT THEREON, BY DEED RECORDED JULY 14, 1945 IN BOOK 1326 PAGE 24 OF OFFICIAL RECORDS OF ORANGE COUNTY, CALIFORNIA. APN: 398-202-13 City Release 1076\49\2456931.1