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HomeMy WebLinkAbout2016 CON CDC HA - Paradise Creek II Housig Partners - Memorandum of Ground LeaseOld Republic Title Company- . ' Oakland 1//ti 4 RECORDING REQUESTED BY: COMMUNITY DEVELOPMENT COMMISSION -HOUSING AUTHORITY OF THE CITY OF NATIONAL CITY H4' i i' 5t4A-erei( ft) AND WHEN RECORDED RETURN TO: COMMUNITY DEVELOPMENT COMMISSION -HOUSING AUTHORITY OF THE CITY OF NATIONAL CITY Records Management Department 1243 National City Blvd. National City, California 91950 1• r DOC# 2016-0621142 IIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Nov 15, 2016 08:00 AM OFFICIAL RECORDS Ernest J. Dronenburg, Jr., SAN DIEGO COUNTY RECORDER FEES: $3,578.00 PCOR: YES PAGES: 8 MEMORANDUM OF GROUND LEASE (Paradise Creek Apartments Project/Phase II) e✓tjne,l Aora,rviewiluitisfrA/4)4 is; it Z6 n1p,3i-813u 11- THIS MEMORANDUM OF GROUNDLEASE is executed in connection with that certain GROUND LEASE FOR PHASE II [Transit -Oriented Infill Affordable Housing and Paradise Creek Enhancement Project], dated as of November 1, 2016 ("Ground Lease"), between the Community Development Commission -Housing Authority of the City of National City ("Housing Authority"), �6,u.fC and Paradise Creek II Housing Partners, L.P., a California limited partnership ("Tenant"), relating to the real property ("Property") located in the City of National City, California, more particularly described in the attached Exhibit "A," which is incorporated herein by this reference. Pursuant to the Ground Lease, the Housing Authority has leased the Property to the Tenant for a period commencing on the date this Memorandum of Ground Lease is recorded, and continuing thereafter until the ninety-ninth (99`h) anniversary of the date on which a notice of completion for the construction of the project described in the Ground Lease is recorded in the Official Records. This Memorandum of Ground Lease is being recorded in order to give notice of the Ground Lease. This Memorandum of Ground Lease is not a complete summary of the terms and conditions of the Ground Lease and is subject to, and shall not be used to interpret or modify, the Ground Lease. Landlord: Community Development Commission -Housing Authority of the City of National City Byr- Leslie Deese, Executive Director Approved as to Form: Christensen & Spath LLP By: W. ter F. p.`� i , Special Counsel to the Landlord [ IGNATURES CONTINUED ON FOLLOWING PAGE] 1 3 Old Republic Title Company- • Oakland 4 I RECORDING REQUESTED BY: COMMUNITY DEVELOPMENT COMMISSION -HOUSING AUTHORITY OF THE CITY OF NATIONAL CITY Had 1 i c- bteheM-e, f +� AND WHEN RECORDED RETURN TO: COMMUNITY DEVELOPMENT COMMISSION -HOUSING AUTHORITY OF THE CITY OF NATIONAL CITY Records Management Department 1243 National City Blvd. National City, California 91950 MEMORANDUM OF GROUND LEASE (Paradise Creek Apartments Project/Phase II) wnke✓43 a,✓A-1-ra.(45{w-64 i s; it 2cx' p0} a0-Pull, THIS MEMORANDUM OF GRO LEASE is executed in connection with that certain GROUND LEASE FOR PHASE II [Transit -Oriented Infill Affordable Housing and Paradise Creek - Enhancement Project], dated as of November 1, 2016 ("Ground Lease"), between the Community �( Development Commission -Housing Authority of the City of National City ("Housing Authority"), v ed and Paradise Creek II Housing Partners, L.P., a California limited partnership ("Tenant"), relating to the real property ("Property") located in the City of National City, California, more particularly described in the attached Exhibit "A," which is incorporated herein by this reference. Pursuant to the Ground Lease, the Housing Authority has leased the Property to the Tenant for a period commencing on the date this Memorandum of Ground Lease is recorded, and continuing thereafter until the ninety-ninth (99th) anniversary of the date on which a notice of completion for the construction of the project described in the Ground Lease is recorded in the Official Records. This Memorandum of Ground Lease is being recorded in order to give notice of the Ground Lease. This Memorandum of Ground Lease is not a complete summary of the terms and conditions of the Ground Lease and is subject to, and shall not be used to interpret or modify, the Ground Lease. Landlord: Community Development Commission -Housing Authority of the City of National City By��=�,t�►. Leslie Deese, Executive Director Approved as to Form: Christensen & Spath LLP By: W "ter F. Sp. I, Special Counsel to the Landlord [ IGNATURES CONTINUED ON FOLLOWING PAGE] 1 3 i TENANT: Paradise Creek II Housing Partners, L.P., a California limited partnership By: Related/Paradise Creek II Development Co., LLC, a California limited liability company Its: Administrative General Partner Frank Cardone, President By: CHW Paradise Creek II Development Co., LLC, a California limited liability company Its: Managing General Partner By: Community HousingWorks, a California nonprofit public benefit corporation Its: Managing Member Wilson, Senior Vice President 2 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 San Diego On b. J 0 r 2 e' l I ? (, 2016, before me, 14r e 0,, \o�,k rr� , notary public, personally appeared l t.s<<c‘ \ e S-c.-- who proved to me on the basis of satisfactory evidence to be the person whose name(5 is/a* subscribed to the within instrument and acknowledged to me that 1/she/th,ey executed the same in hK/her/tlir authorized capacity(ie1), and that by h(s/her/thir signature() on the instrument the person(,; or the entity upon behalf of which the person 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. Signature G-� vux/L_ u, ANGELITA PALMA COMM. 0 2046893 NOTARY PUBLIC • CALIFORNIA SAN DIEGO COUNTY Con,riooion Wins OCTOBER 25, 2017 3 (Seal) 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 November 8, 2016, before me, Gail P. Fee, Notary Public, personally appeared Frank Cardone, who proved to me on the basis of satisfactory evidence to be the personk4 whose names} is/aye subscribed to the within instrument and acknowledged to me that heklleAlley executed the same in his/hcr/thcir authorized capacity(ics), and that by his/hcr/thcir signaturefs} on the instrument the persons}, or the entity upon behalf of which the person 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. Signature GAIL P. FEE Commission # 2093501 Z 4 ► Orange County ,3� Notary Public - California z Comm. Expires Jan 102019 C (Seal) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 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 C.A,-ckvv On MOV-ariat,r cd1 alb before me, itAkin `R� -C F(�[,h�,(r /UtrAark/ Here Insert Name and Title of the Officer Date personally appeared Anr C3. W;bon Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person whose name(;;'] isfare subs 'bed to the within instrument and acknowledge to me that h_. en they executed the same in hi-C their authorized capacity i , and that b his/ er heir signature the instrument the person(a'j, or - entity upon behalf of which the person fs 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. ROBYN RITA FISCHER WITNESS my hand and official seal. Commission # 2103744 Notary Public - California i Orange County L_c_�'iw/ Signature MX Comm. Expires Mar 19_2019 C Place Notary Seal Above OPTIONAL Lli�Sigfth1/4.qAMIrje nature of Notary Pub V-LA--ot.-r-h-e/ this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: LI Corporate Officer — Title(s): D Partner — ❑ Limited ❑ General ❑ Partner — I I Limited I 1 General ❑ Individual I Attorney in Fact ❑ Individual C1 Attorney in Fact ❑ Trustee 1 1 Guardian or Conservator ❑ Trustee ❑ Guardian or Conservator ❑ Other: ❑ Other: Signer Is Representing: Signer Is Representing: Signer's Name: LI Corporate Officer — Title(s): ©2014 National Notary Association • www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 Exhibit "A" Property Description That certain real property situated in the City of National City, County of San Diego, State of California, described as follows: 6 Exhibit A The land referred to is situated in the County of San Diego, City of National City, State of California, and is described as follows: PARCEL ONE: Portions of Blocks 84, 85 and 86, according to Map thereof No. 348, filed in the Office of the County Recorder of San Diego County, October 2, 1882, together with a portion of 20th and 21st Street Vacated, described as follows: Beginning at the southwest corner of Block 107 as shown on the above referenced map, said point also being a point in the northerly right of way line of 22nd Street, having a half right of way width of 40.00 feet; thence easterly along said line north 72° 16' 45" east 543.65 feet to a tangent curve, said curve concave northwest having a radius of 20.00 feet; thence along said curve through a central angle of 77° 55' 20" an arc length of 27.20 feet to a compound curve, said curve concave west with a radius of 760.00 feet and a radial south 84° 21' 25" west; thence along said curve through a central angle of 12° 04' 44" an arc distance of 160.22 feet to a point in the westerly right of way of Hoover Avenue with a half width of 40.00 feet; thence northerly along said right of way north 17° 45' 42" west 61.65 feet to point "A" and the True point of beginning of this description; thence south 72° 12' 08" west 182.86 feet; thence north 17° 43' 08" west 352.88 feet; thence north 19° 34' 38" east 92.41 feet; thence north 18° 15' 31" east 172.78 feet; thence north 23° 37' 12" east 37.08 feet to a point in the westerly right of way of Hoover Avenue having a half width of 40.00 feet; thence southerly along said right of way south 17° 48' 25" east 209.35 feet; thence south 17° 45' 42" east 384.46 feet to the true point of beginning. Being Parcel 2 in the Certificate of Compliance recorded August 20, 2013, Instrument 2013-521150, of Official Records. EXCEPTING FROM PARCEL ONE: That portion thereof described as follows: Beginning at the northerly corner of said Parcel 2 above; said point also being a point in the westerly right of way of Hoover Avenue having a width of 40.00 feet; thence south 17° 48' 25" east 5.77 feet to the true point of beginning; thence south 17° 48' 25" east 51.47 feet; thence leaving said right of way south 72° 04' 38" west 3.11 feet; thence along a non -tangent curve with a radius of 42.57 feet and an exit radial of south 67° 03' 28" east; thence along said curve an arc distance of 55.40 feet through a central angle of 74° 33' 40" to the true point of beginning. APN: 560-391-11 & Portion 560-206-08 PARCEL TWO: A portion of Hoover Avenue (formerly 2nd Ave) and portion Lots 13 through 21, inclusive, lying within Block 86, according to Map thereof No. 348, filed in the County of San Diego, October 2, 1882, as vacated in the Resolution Authorizing an Order of Vacation recorded June 17, 2014, document no. 2014-250448, being only that portion of the following described parcel that is adjacent to Parcel One above (Parcel 2 Certificate of Compliance, 2013-521150), and more particularly described as follows: Beginning at the centerline intersection of 21st Street and Hoover Avenue; thence south 72° 14' 18" west, 25.21 feet to the true point of beginning; thence south 17° 45' 42" east, 263.41 feet to a concave curve westerly with a radius of 27.00 feet; thence along said curve through a central angle of 90° 02' 26" an arc distance of 42.43 feet; thence leaving said curve south 72° 16' 45" west, 24.27 feet to a non tangent curve concave westerly with a radius of 20.00 feet; thence along said curve through a central angle of 77° 55' 20" an arc distance of 27.20 feet to a tangent compound curve concave westerly with a radius of 760.00 feet; thence along said curve through a central angle of 12° 04' 44" an arc distance of 160.22 feet; thence leaving said curve north 17° 47' 56" west 598.21 feet along the westerly right of way of Hoover Avenue having a half right of way width of 40.00 feet; thence leaving said right of way north 72° 04' 38" east, 13.71 feet; thence south 17° 48' 25" east, 482.71 feet; thence north 71° 08' 38" east, 1.09 feet to the true point of beginning. EXCEPTING THEREFROM: BEGINNING AT THE CENTERLINE INTERSECTION OF 21ST STREET AND HOOVER AVENUE; THENCE SOUTH 72°14'18" WEST, 25.21 FEET THENCE SOUTH 17°45'42" EAST 53.90 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTH 17°45'42" EAST, 209.47 FEET TO A CONCAVE CURVE WESTERLY WITH A RADIUS OF 27.00 FEET; THENCE ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 90°02'26" AN ARC DISTANCE OF 42.43 FEET; THENCE LEAVING SAID CURVE SOUTH 72°16' 45" WEST, 24.27 FEET TO A NON TANGENT CURVE CONCAVE WESTERLY WITH A RADIUS OF 20.00 FEET; THENCE ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 77°55' 20" AN ARC DISTANCE OF 27.20 FEET TO A TANGENT COMPOUND CURVE CONCAVE WESTERLY WITH A RADIUS OF 760.00 FEET; THENCE ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 12° 04' 44" AN ARC DISTANCE OF 160.22 FEET; THENCE LEAVING SAID CURVE NORTH 17° 47' 56" WEST 61.65 FEET ALONG THE WESTERLY RIGHT OF WAY OF HOOVER AVENUE HAVING A HALF RIGHT OF WAY WIDTH OF 40.00 FEET; THENCE LEAVING SAID RIGHT OF WAY NORTH 72°12'08" EAST, 14.79 FEET TO THE TRUE POINT OF BEGINNING. BOE-502-A(P1) *EV. 12 (05-13) ERNEST J. DRONENBURG, JR. SAN DIEGO COUNTY ASSESSOR/RECORDER/COUNTY CLERK 1600 PACIFIC HIGHWAY, SUITE 103, SAN DIEGO, CA 92101 TELEPHONE (619) 531-5848 PRELIMINARY CHANGE OF OWNERSHIP REPORT To be completed by the transferee (buyer) prior to a transfer of subject property, in accordance with section 480.3 of the Revenue and Taxation Code. A Preliminary Change of Ownership Report must be filed with each conveyance in the County Recorder's office for the county where the property is located. ASSESSORS PARCEL NUMBER 560-391-11 & 560-206-08 SELLER/TRANSFEROR Community Development Commission -Housing Authority of the City of National City BUYER/TRANSFEREE Paradise Creek II Housing Partners, L.P. BUYER'S DAYTIME TELEPHONE NUMBER (949) 660-7272 BUYERS EMAIL ADDRESS fcardone@related.com FOR RECORDER USE ONLY STREET ADDRESS OR PHYSICAL LOCATION OF REAL PROPERTY 2010 and 2030 Hoover Avenue, National City, CA 91950 MAIL PROPERTY TAX INFORMATION TO (NAME) Paradise Creek II Housing Partners, L.P., a California limited partnership ADDRESS 18201 Von Karman Avenue, Suite 900 CITY Irvine STATE CA ZIP CODE 92612 I��YES VVO This property is intended as my principal residence. If YES, please indicate the date of occupancy or intended occupancy. MO DAY YEAR PART 1. TRANSFER INFORMATION Please complete all statements. This section contains possible exclusions from reassessment for certain types of transfers. YES NO I • A. This transfer is solely between spouses (addition or removal of a spouse, death of a spouse, divorce settlement, etc.). B. This transfer is solely between domestic partners currently registered with the California Secretary of State (addition or removal of a partner, death of a partner, termination settlement, etc.). C. This is a transfer: between parent(s) and child(ren) NO 17 G. This transaction is only a correction of the name(s) of the person(s) holding title to the property (e.g., a name change upon marriage). If YES, please explain: nH. The recorded document creates, terminates, or reconveys a lender's interest in the property. roI. This transaction is recorded only as a requirement for financing purposes or to create, terminate, or reconvey a security interest (e.g., cosigner). If YES, please explain: (LI ✓ J. The recorded document substitutes a trustee of a trust, mortgage, or other similar document. from grandparent(s) to grandchild(ren). 12 * D. This transfer is the result of a cotenant's death. Date of death V* E. This transaction is to replace_a.princi al residence by a person 55 years of age or older. _ Within the same county? O'YES �0 NO lu 11 . F. This transaction is to replace a principal residence b as person who is severely disabled as defined by Revenue and Taxation Code section 69.5. Within the same county? I0 YES K. This is a transfer of property: IEFit 1. to/from a revocable trust that may be revoked by the transferor and is for the benefit of ❑ the transferor, and/or ❑ the transferor's spouse registered domestic partner. lu F 17 2. to/from a trust that may be revoked by the creator/grantor/trustor who is also a joint tenant, and which names the other joint tenant(s) as beneficiaries when the creator/grantor/trustor dies. 3. to/from an irrevocable trust for the benefit of the Iu IY creator/grantor/trustor and/or grantor's/trustor's spouse grantor's/trustor's registered domestic partner. L. This property is subject to a lease with a remaining lease term of 35 years or more including written options. I1JM. This is a transfer between parties in which proportional interests of the transferor(s) and transferee(s) in each and every parcel being transferred remain exactly the same after the transfer. 17 N. This is a transfer subject to subsidized low-income housing requirements with governmentally imposed restrictions. I� II * O. This transfer is to the first purchaser of a new building containing an active solar energy system. * Please refer to the instructions for Part 1. Please provide any other information that will help the Assessor understand the nature of the transfer. THIS DOCUMENT IS NOT SUBJECT TO PUBLIC INSPECTION • BOE-502-A (P2 REV. 12 (05-13) PART 2. OTHER TRANSFER INFORMATION A. Date of transfer, if other than recording date: B. Type of transfer: Purchase ❑ Foreclosure - Gift I I Trade or exchange Contract of sale. Date of contract: Check and complete as applicable. Merger, stock, or partnership acquisition (Form BOE-100-B) ❑ Inheritance. Date of death: ❑ Sale/leaseback V Creation of a lease ❑ Assignment of a lease _ Termination of a lease. Date lease began: Original term in years (including written options): 99 Remaining term in years (including written options): _ Other. Please explain: C. Only a partial interest in the property was transferred. r YES NO If YES, indicate the percentage transferred: OA PART 3. PURCHASE PRICE AND TERMS OF SALE A. Total purchase price Check and complete as applicable. B. Cash down payment or value of trade or exchange excluding closing costs C. First deed of trust @ % interest for years. ❑ FHA (_Discount Points) Cal -Vet C Monthly payment $ VA (_Discount Points) Bank/Savings & Loan/Credit Union ❑ Loan carried by seller Balloon payment $ Due date: Fixed rate Variable rate $,93 3 274ysr, Amount $ Amount $ D. Second deed of trust @ % interest for years. Monthly payment $ Amount $ Fixed rate ❑ Variable rate Bank/Savings & Loan/Credit Union _ Balloon payment $ E. Was an Improvement Bond or other public financing assumed by the buyer? I Due date: Loan carried by seller YES NO Outstanding balance $ F. Amount, if any, of real estate commission fees paid by the buyer which are not included in the purchase price $ G. The property was purchased: _ Through real estate broker. Broker name: Phone number Direct from seller From a family member -Relationship Other. Please explain: H. Please explain any special terms, seller concessions, broker/agent fees waived, financing, and any other information (e.g., buyer assumed the existing loan balance) that would assist the Assessor in the valuation of your property. PART 4. PROPERTY INFORMATION A. Type of property transferred Check and complete as applicable. Single-family residence E Co-op/Own-your-own ❑ Manufactured home ❑ Multiple -family residence. Number of units: Condominium Z Unimproved lot ❑ Other. Description: (i.e., timber, mineral, water rights, etc.) Timeshare Commercial/Industrial B{ YES 11 NO Personal/business property, or incentives, provided by seller to buyer are included in the purchase price. Examples of personal property are furniture, farm equipment, machinery, etc. Examples of incentives are club memberships, etc. Attach list if available. If YES, enter the value of the personal/business property: $ Incentives $ C1❑ YES IL NO A manufactured home is included in the purchase price. If YES, enter the value attributed to the manufactured home: $ YES I NO The manufactured home is subject to local property tax. If NO, enter decal number: DYES 17 NO The property produces rental or other income. If YES, the income is from: ❑ Lease/rent Contract ❑ Mineral rights ❑ Other: E. The condition of the property at the time of sale was: Please describe: Good Average ❑ Fair ❑ Poor CERTIFICATION I certify (or declare) that the foregoing and all information hereon, including any accompanying statements or documents, is true and correct to the best of my knowledge and belief. SIG)ITURE OF BUYER/TRANSFEREE OR CORPORATE OFFICER NAME OF BUYER/TRANSFEREE/LEGAL REPRESENTATIVE/CORPORATE OFFICER (PLEASE PRINT) Frank Cardone DATE IIism/ TITLE Authorized Signatory tor Related/ Paradise Creek II Development Co.. LLD TELEPHONE (949) 660-7272 EMAIL ADDRESS fcardone@related.com The Assessor's office may contact you for additional information regarding this transaction.