HomeMy WebLinkAbout20784 - RESOLUTIONS - 11/19/2003 ' RESOLUTION NO. 20784
OF THE CITY COUNCIL OF THE CITY OF PALM
SPRINGS,CALIFORNIA,APPROVING AN AMENDMENT
TO LEASES WITH THE HOMEOWNERS IN SUNRISE
NORTE, EXTENDING EACH OF THE LEASES TO A
TERM OF SIXTY(60)YEARS, IN A FORM ACCEPTABLE
TO THE CITY ATTORNEY
WHEREAS, the City of Palm Springs approved that certain Lease Agreement No. 1779 with
Fredricks Development Corporation, a California Corporation, dated March 1, 1982 for the
development of 60 acres of land located at the northwest corner of Sunrise Way and San Rafael
Drive, a memorandum of which was recorded on March 22, 1982 as Instrument No. 47803 of the
Official Record of the Riverside County Recorder; and
WHEREAS, the Parties made a Declaration of Covenants, Conditions and Restrictions
("Declaration")and subsequently recorded the Declaration on October 22, 1982 as Instrument No.
182722 of the Official Records of the Riverside County Recorder; and
WHEREAS, on February 8, 1983, the City entered an Agreement Re Enforcement of Lease
Number 1779 with the State of California Department of Housing and Community Development
to facilitate the State making California Homeownership Assistance Program ("CHAP") loans to
' eligible households, recorded on February 15, 1983 as Instrument No. 28930 of the Official
Record of the Riverside County Recorder; and
WHEREAS, the parties entered an Amendment to Lease Agreement on February 23, 1983 as
Instrument No. 37067 of the Official Record of the Riverside County Recorder, for the purpose
of assisting the Lessee obtain Federal Housing Administration Insurance for the loans taken by
purchasers which were to be secured by the lots into which the Property was to be subdivided and
improvements constructed thereon; and
WHEREAS Lessee subdivided and sold homes in the Tract as described in the Legal Description
shown as Exhibit"A"to the Resolution, subject to the terms of subleases executed by Lessee and
Sublessee; and
WHEREAS Lessee Executed a Quitclaim Deed on December 12, 1991, recorded on December
27, 1991 as Instrument No. 446363 of the Official Record of the Riverside County Recorder;
terminating and cancelling the Lease Agreement by and between City and Lessee, as well as the
Lessee's interest in the Covenants, Conditions and Restrictions (the "Declaration").
WHEREAS, with the execution of the Quitclaim Deed by the Lessee and acceptance by the City,
the City's real property interest merged with the Lessee's interest for the,purpose of the subleases
with the individual subleases.
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Resolution 20784
Page 2
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Palm Springs, that: '
SECTION 1. Term. Lease Term shall be Sixty (60) years from date of execution of the
Amendment.
SECTION 2. Lease Otherwise Unaffected. Except as expressly set forth herein,the terms of the
Lease and Sublease, as amended, shall remain unaffected and unimpaired by
reason of the foregoing amendments, and the Lease and Sublease, as amended,
shall remain in full force and effect and binding on all parties hereto.
SECTION 3. The City Manager or his designee is authorized to execute this formal amendment
to the Lease(s) and any agreements, letters, documents, deeds, easements to
facilitate this transaction.
ADOPTED this 19th day of November 2003,
AYES: Members Mills, Reller-Spurgin and Mayor pro tem Oden
NOES: None
ABSENT: Member Hodges and Mayor Kleindienst
ATTEST: THE CITY OF PALM SPRINGS, CALIFORNIA
City Clerk City Manager
REVIEWED & APPROVED AS TO FORM
By:
City Attorney