HomeMy WebLinkAboutSTEADFAST COURTYARDS 1A - 2005
.
A_2005-309A
RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
Manatt I Phelps I Phillips
11355 W. Olympic Blvd.
Los Angeles, CA 90064
Attention: Justin X. Thompson, Esq.
MEMORANDUM OF LAND EXCHANGE AGREEMENT AND JOINT ESCROW
INSTRUCTIONS
This MEMORANDUM OF LAND EXCHANGE AGREEMENT AND JOINT
ESCROW INSTRUCTIONS (this "Memorandum") is made as of this 6th day of September,
2005, by and between the City of Santa Ana, a charter city duly organized under the Constitution
and laws of the State of California ("City"), and Steadfast Courtyards, L.P., a California limited
partnership ("Steadfast") with reference to the following facts:
I. City is the owner of that certain real property located in the City of Santa
Ana, County of Orange, State of California, bearing Assessors Parcel Numbers 002-162-05, 002-
162-06,002-162-07,002-162-30,002-162-31, 002-162-32, 002-162-33 and 002-162-34, as more
particularly described on Exhibit A attached hereto ("City Land").
2. Steadfast is the owner of that certain real property located in the City of
Santa Ana, County of Orange, State of California, bearing Assessors Parcel Numbers 399-102-
05, 399-102-06, and 399-102-07 as more particularly described on Exhibit B attached hereto
("Steadfast Land").
3. Pursuant to that certain Land Exchange Agreement and Joint Escrow
Instructions ("Agreement") dated of even date herewith, Steadfast has agreed to convey the
Steadfast Property (which includes the Steadfast Land and is defined in the Agreement) to City
and City has agreed to convey the City Property (which includes the City Land and is defined in
the Agreement) to Steadfast subject to and in accordance with the terms and conditions set forth
therein.
4. All of the terms, provisions and covenants of the Agreement are
incorporated in this Memorandum by reference as though written out at length herein, and the
Agreement and this Memorandum shall be deemed to constitute a single instrument or document.
5. This Memorandum is prepared for recordation purposes only, and it in no
way modifies the terms, conditions, provisions and covenants of the Agreement. In the event of
any inconsistency between the terms, conditions, provisions and covenants of this Memorandum
and the Agreement, the terms, conditions and covenants of the Agreement shall prevail.
40836735.16
The parties hereto have executed this Memorandum on the dates specified immediately
below their respective signatures.
Steadfast:
Steadfast Courtyards, L.P.,
a California limited partnership
By: SRP Urban Developments, Inc.,
a Californ' corporation, its sole General
Partner
Citv:
City of Santa Ana, a charter city duly organized
under the Constitution and laws of the State of
California
By:
Name:
Title:
fL:4Ja-
Uavl.d N. Re.am
City Manager
~
[INSERT REQUISITE ACKNOWLEDGEMENTS PRIOR TO EXECUTION]
PA TRIOlA E. HEALY
CLERK OF THE COUNCIL
APPROVED Jff3 TO Fl.,
;( /LC/
. I (;
...<BEN.JA:.", i KAlJf'/AN
'Chief Assistclnf Clef A1tomey
40836735.16
EXHIBIT A
TO
MEMORANDUM OF LAND EXCHANGE AGREEMENT AND JOINT ESCROW
INSTRUCTIONS
Legal Description of City Land
PARCEL 1:
LOT 1 IN BLOCK "A" OF ORANGE GROVE TRACT, AS PER MAP RECORDED IN BOOK 31, PAGE 27
OF MISCELLANEOUS RECORDS IN THE OFFICE OF THE COUNTY RECORDER OF LOS ANGELES
COUNTY, CALIFORNIA.
EXCEPT THEREFROM THE EAST 4-1/2 FEET, CONVEYED TO THE CITY OF SANTA ANA, FOR
WIDENING OF MAIN STREET.
PARCEL 2:
THAT PORTION OF THE LAND ALLOTTED TO WILLIAM FERGUSON IN DECREE OF PARTITION
OF THE RANCHO SANTIAGO DE SANTA ANA, RECORDED IN BOOK "B" OF JUDGMENTS OF THE
17TH JUDICIAL DISTRICT COURT OF CALIFORNIA DESCRIBED AS FOLLOWS:
.
BEGINNING AT A POINT NORTH 1 DEG. EAST 718 FEET FROM A POINT NORTH 89 DEG. 52'
WEST 33 FEET FROM THE COMMON CORNER OF SECTIONS 1, 6, 7 AND 12, IN TOWNSHIP 5
SOUTH, RANGES 9 AND 10 WEST, THENCE NORTH 1 DEG. EAST 52 FEET; THENCE NORTH 88
DEG. 47' WEST 158 FEET; THENCE SOUTH 1 DEG. WEST 52 FEET; THENCE SOUTH 88 DEG. 47'
EAST 158 FEET TO THE POINT OF BEGINNING.
PARCEL 3:
THAT PORTION OF THE LAND ALLOTTED TO WILLIAM FERGUSON IN DECREE OF PARTITION
OF THE RANCHO SANTIAGO DE SANTA ANA, RECORDED IN BOOK "B" OF JUDGMENTS OF THE
17TH JUDICIAL DISTRICT COURT OF CALIFORNIA, DESCRIBED AS FOLLOWS:
COMMENCING AT A POINT NORTH 1 DEG. EAST 718 FEET AND NORTH 83 DEG. 47' WEST 151
FEET FROM THE COMMON CORNER IN SECTIONS 1, 12,6 AND 7, IN TOWNSHIP 5 SOUTH,
RANGES 9 AND 10 WEST, THENCE NORTH 88 DEG. 47' WEST 40 FEET; THENCE SOUTH 1 DEG.
WEST 64 FEET; THENCE SOUTH 89 DEG. 52' EAST 40 FEET; AND THENCE NORTH 1 DEG. EAST
64 FEET, MORE OR LESS, TO THE POINT OF BEGINNING.
PARCEL 4:
LOT 3 IN BLOCK "A" OF THE ORANGE GROVE TRACT, AS SHOWN ON A MAP OF A RESUBDIVISION OF
THE ORANGE GROVE TRACT, RECORDED IN BOOK 1 PAGE 14 OF
MISCELLANEOUS MAPS, RECORDS OF ORANGE COUNTY, CALIFORNIA.
PARCEL 5:
LOT 1 IN BLOCK "A" OF GEOPPER'S ADDmON TO THE TOWN OF SANTA ANA, AS SHOWN ON A
MAP RECORDED IN BOOK 21 PAGE 98 OF MISCELLANEOUS RECORDS OF LOS ANGELES
COUNTY, CALIFORNIA.
40836735.16
..-..... - ~........ ......... . .,...... ... ........., ..........."...."" ............. oJ.... ............ <J..J' .......L-. . ...~.-. ..~.... ..........._