HomeMy WebLinkAboutA1895 - STATE LOW INCOME HOUSING COYOTE RUN LEASEDATE: February , 1992
TO: Redevelopment - Attention: Amy Parker
FROM: City Clerk
COYOTE RUN APARTMENTS/CVHC
Attached are copies of the face sheet of the recorded documents which
have been returned to me, i.e.:
City Grant Deed
Agency Grant Deed
Regulatory Agr & Decl of C&R
Deed of Trust (CRA beneficiary)
Subordination Agr
Apparently, the CRA Res 838 was attached to the City's grant deed
and recorded as a part of that document. Also attached to that document
is a copy of a "Quitclaim Deed" to evidence the cancellation and termin-
ation of Lease Agreement between the City and Fredricks Development
Corp., and cancellation and termination of CCRs both executed by
Fredricks Development Corp., and both recorded in 1982. I do not
have either of the recorded documents referred to in the quitclaim,
although the numbers and dates are referred to in other document,
and it raises the following questions to fill in some holes in the
record:
By what Council action was the City's "lease agreement" terminated?
The Council Resolution 17707 on 12-19-91 only authorized acceptance
of the quitclaim, and Resolution 17706 authorize doing whatever
was necessary to consummate amendment to the DDA. If that is
construed as terminating the "Fredricks lease" - which of the
following is it terminating, and how does the quitclaim effect:
Agr 1696, originally dated 3-18-81 (portion assgined to AFCOM
Mobilehome Parks, Ltd and portion/and participation to Fredricks)
Agr 1779, originally dated November 1, 1981, and substituted and
restated March 1, 1982 (60 ac Fredricks) Separate CCR document
dated March 1, 1982, notarized February 22, 1983. Agr had 2 amend-
ments between March 1982 and February, 1983.
Agr 1843, originally dated September 3, 1982 (Fredricks to develop
30 mobile home spaces)
Agr 1878, originally dated November 18, 1982 (Agreement and consent
to assignment and encumbrance of lease refers to Agr 1696, and
Fredricks as substitute lessee)
Agr 1895, originally dated February 2, 1983 - recorded Feb 15,
1983 as #28930 - between City and State Dept of Housing, provides
enforcement provisions in event of default of Agr 1779.
Although the quitclaim deed was an attachment to the City's grant
deed, when was the original of it actually recorded, and where is
the original?
The above documents refer to either a metes & bounds description,
or Lot 1, or Lots 8 and 9 of Tract 17642-1. The newly recorded
documents refer to Lot 1 Tract 26943-1. Is Tract 27943-1 a
resubdivision of a portion of 17642-1? Who now owns, or leases
the mobilehome/mod housing project, and if it is leased by other
than Santiago (assigned from Fredricks) by what authority? Do legal
descriptions in the above agreements need to be changed?
Which of the above agreements does the County Assessor need to know
are still in effect - cancelled, for possessory leasehold tax
purposes?
2-5-92 - Redev., Parker
Page 2
Coyote Run/CVHC
The Reg. & Subord. agreements, and Deed of Trust, will be filed with
the DDA (City Agr 2935/CRA A261C), and the grant deed incorporated
into each entities' deed records. No changes will be given to the
Assessor until the above questions are answered, or clarified. A
copy of this memo will be placed in each of the above agreement files.
There is no current "lessee" insurance certificate on the mobilehome/mod
hsg project site.
JUDITH SUMICH
City Clerk
Attached
cc: City Attorney
cc
RECORDING REQUESTED BY: � v so,LU
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RETURN TO: ` Enforcement Provision in evnt
CITY CLERK of defaul of Agr 1779 with
CITY OF PALM SPRINGS State Dept. of Hsng & Com Dev I
BOX 1786 AGREEMENT #1895
f^PALM SPRINGS, CA. 92263 MO 3199, (orig 2-3-83)2-2-83
AGREEMENT RE ENFORCEMENT
OF LEASE NUMBER 1779
WHEREAS, the City of Palm Springs, a municipal corporation, (herein-
after referred to as the "City") has entered into Lease Agreement No. 1779,
dated March 1 , 1982, a memorandum of which was recorded on March 22, 1982,
in Book 1982, page 47803, Official Record of Riverside County Recorder
(hereinafter referred to as the "Lease") , with the City as Lessor and
Fred`lricks Development Corporation, a California corporation, as Lessee,
through which the City has leased certain real property in the City of Palm
Springs, County of Riverside, State of California, more particularly
described in Exhibit "A" attached hereto and incorporated herein by this
reference (hereinafter referred to as the "Property") .
WHEREAS, said Lease Agreement provides for the development by Lessee of
a manufactured housing subdivision for Pventual assignment of common areas
Additional Material ' I#em 6
to a homeowner' s association and individual lots to purchasers of manufac-
tured housing units.
WHEREAS, the State of California, Department of Housing and Community
Development (hereinafter referred to as the "State") operates the California
Homeownership Assistance Program (hereinafter referred to as "CHAP") for the
purpose of making home purchase loans to eligible households.
WHEREAS, through a joint powers agreement with the County of Riverside,
the City has entered into a state contract with State, No. 80 CHAP 008,
dated October 23, 1981 , in which the State has agreed to make CHAP loans
within the geographical area of the City's jurisdiction and the City has
agreed to facilitate the making of such loans by the State.
WHEREAS, the City desires to have the Stat- make CHAP loans specifi-
cally to individual purchasers of units on the Property.
NOW, THEREFORE, for and in considertion of the foregoing recitals, and
for valuable consideration, receipt of which is hereby acknowledged, the
City and the State agree that solely with regard to the application of the
Lease to individual lots on the Property which secure loans made under the
CHAP Program, the following shall be applicable:
1 . Article IV, Subsection A. In accordance with the provisions of
Article IV, Subsection A of the Lease, the City agrees to approve any
encumbrance of the Lease for the purposes of securing CHAP financing or
refinancing, or for the purpose of permitting a CHAP borrower to sell his or
-2-
her manufactured unit to an eligible purchaser who needs to encumber the
Lease to secure purchase money financing.
2. Article IV, Subsection E. In accordance with the provisions of
Article IV, Subsection E of the Lease, the City agrees that it shall not
terminate the Lease if within one hundred and twenty (120) days after
service of written notice to the State of City's intention to terminate the
Lease, the State has taken one of the following actions:
1 . Cures such default or breach if the same can be cured;
provided, however, that for the purpose of the foregoing, the State
shall not be required to pay money to cure the bankruptcy or insolvency
of Lessee or its assignee; or
2. Arranges for replacement of Lessee or its assignee with a new
Lessee or assignee who agrees to be bound and to comply with the terms
and conditions of the Lease; or
3. If such default is not so curable, causes the trustee under
the trust deed to commence and thereafter diligently to pursue to
completion steps and proceedings for judicial foreclosure, the exercise
of the power of sale under and pursuant to the trust deed in the manner
provided by law, or accepts an assignment in-lieu of foreclosure, and
keeps and performs all of the covenants and conditions of the Lease
requiring the payment or expenditure of money by Lessee or assignee
until such time as said Leasehold shall be sold upon exercise of power
of sale pursuant to the trust deed, or be released or reconveyed
-3-
thereunder, or• be sold upon judicial foreclosure or be transferred by
deed in-lieu of foreclosure.
3. Article XIII. In accordance with the provisions of Article XIII
of the Lease, the City agrees that it shall approve any subsequent
assignment of a lot after the initial assignment by Grantor, as long as the
following two conditions are satisfied:
1 . The City must have approved the sales price as required by
the Declaration of Covenants, Conditions and Restrictions.
2. The proposed assignee must agree to occupy the manufactured
unit located on the lot to be assigned.
The above restriction on approval concerning owner-occupancy shall not
apply to a sale of a unit by the State pursuant to its exercise of a power
of sale under a deed of trust or pursuant to judicial foreclosure, or to a
voluntary transfer of the affected unit by deed in lieu of foreclosure.
4. Without the prior written approval of the State, the City agrees
that it shall not amend the Lease; or approve any amendment of the
Declaration of Covenants, Conditions and Restrictions, the Articles of
Incorporation or the Bylaws which govern the Property.
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Agreement on I_ 1983
CITY OF PALM SPRINGS, CALIFORNIA
BY
ty arc 1ty anager
REVIEWED AND APPROVED: 1 +-s Aj
APPROVED BY THE CITY COUI CIL STATE OF CALIFORNIA
BYE NO. e7 DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT
BY
7?U—
STATE OF CALIFORNIA, On this 25th day of Jan�y In the year 1983
before me, Gail J. Hunt a Notary Public, state
OUNTY OF Sacramento , ss, of California, personally appeared Ron S. Javor
personally known to me to be the person who executed this
OFFICIAL SEAI, instrument as General Counsel 1
Title cf Officer IJ
MOTAfl1'PUBLIC-CAUFORNU of the Department of Housing and Community Development, State of
SACMMENTO COUNTY California, and acknowledged to me that the Department of Housing
MY Canm, Expire+ Oct. 79, 1985 and Community Developih>~n t, S t of lifornia, executed it.
Notary's Signature—/✓/-3I
R STATE OF CALIFORNIA) --
)ss,
COUNTY OF RIVERSIDE)
on February 8
19.$3__, before me, the undersigned, a Notary Public in
and for said state, personallyappeared ppeared rrmTmv eTrry n_` and NORMAN R. KING
known, to me to be the
City Q1 t and Pi Manager of the CITY OF PALM
SPRINGS and known to me to be the persona who executed the within instrument on behalf of
the CITY OF PALM SPRINGS, and acknowledged to me that the CITY OF PALM SPRINGS executed
the same,
, OFFICIAL =RsIoeUNTYk
EA: .,. .
-.a. SEAL: IFOgN14TY NOTARY PUBLIC
Io, 19
/6 b
EXHIBIT "A"
Lots 8 and 9 of Tract No. 17642-1 , according to map thereof recorded in
Book 122, Pages 88, 89 and 90 of Maps, Records of Riverside County, Cali-
fornia, together with all of Tract No-17642-2, according to map thereof
recorded in Book 124, Pages 27 and 28 of Maps, Records of Riverside County,
California.
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