HomeMy WebLinkAbout10/4/2006 - STAFF REPORTS - RA.2.DATE: October 4, 2006
COMMUNITY REDEVELOPMENT AGENCY
STAFF REPORT
Consent Calendar
SUBJECT: APPROVAL OF AN EXCLUSIVE AGREEMENT TO NEGOTIATE FOR A
PERIOD OF TWELVE MONTHS WITH GLOBAL INNOVATION
DEVELOPMENT, INC. OF SANTA MONICA, CALIFORNIA FORA PARCEL
OF APPROXIMATELY 39,500 SQUARE FEET AT THE NORTHEAST
CORNER OF BELARDO ROAD AND ALEJO ROAD FOR THE PURPOSE
OF DEVELOPING A RESIDENTIAL AND PUBLIC PARKING PROJECT,
MERGED PROJECT AREA #1 (APN 505-324-002)
FROM: David H. Ready, Executive Director
BY: Community & Economic Development
SUMMARY
Global Innovation Development, Inc. (the Developer) proposed to acquire an Agency -
owned parcel at the northeast corner of Alejo Road and Belardo Road for the purpose of
developing a residential project on the site. Since the site is one of the Agency -owned
parking lots in the downtown area (known as the "Catholic Church Parking Lot") and has an
ongoing commitment to make spaces available for the Our Lady of Solitude Church, the
initial response from staff to the proposal was negative. However, the Developer has
modified the proposal to create more public parking (underground) than what currently
exists on the site, as part of the project. Additionally, the existing parking lot is in serious
need of upgrade to bring it to the same standard as the other Agency lots on Belardo. The
price of upgrading the lot is estimated to be in excess of $500,000.
RECOMMENDATION.
Adopt Resolution No. "A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING AN EXCLUSIVE AGREEMENT TO NEGOTIATE FOR A PERIOD OF
TWELVE MONTHS WITH GLOBAL INNOVATION DEVELOPMENT, INC. OF
SANTA MONICA, CALIFORNIA FOR A 39,500 SQUARE FOOT PARCEL AT THE
NORTHEAST CORNER OF BELARDO ROAD AND ALEJO ROAD FOR THE
ITEM NO. �
PURPOSE OF DEVELOPING A RESIDENTIAL AND PUBLIC PARKING
PROJECT, MERGED PROJECT AREA #1
AUTHORIZE THE EXECUTIVE DIRECTOR OR HIS DESIGNEE TO EXECUTE
ALL DOCUMENTS RELATED TO THE AGREEMENT
STAFF ANALYSIS:
In April, 2006 Global Innovation Development, Inc. (Developer) made a proposal to acquire
an Agency -owned parcel at the northeast corner of Alejo Road and Belardo Road for the
purpose of developing a residential project on the site. Since the site is one of the Agency -
owned parking lots in the downtown area (popularly known as the "Catholic Church Parking
Lot") and has an ongoing commitment to make spaces available for the Our Lady of
Solitude Church, the initial response from staff to the proposal was negative. However,
the Developer has modified the proposal to create more public parking (underground) than
what currently exists on the site, as part of the project. Additionally, the parking lot is in
serious need of upgrade to bring it to the standard of the other Agency lots on Belardo,
which price is estimated to be in excess of $500,000.
As described above, the replacement of the existing parking spaces at the site is absolutely
essential, as the development of the surrounding vacant parcels (such as the La Sierra
University parcel to the north) and under utilized parking lots (such as on the Rae[
Development site) will squeeze the available public parking in the vicinity. There are
several cultural attractions in the area, such as the Palm Canyon Theatre and Frances
Stevens Park itself that will find it difficult to park over the next several years, even without
this project. Staff will confirm the number of existing spaces on the site and then review
the preliminary schematic design of the covered (or underground) parking in order to
determine the basis for new, additional parking to be gained from the project. In addition,
the Purchase and Sale Agreement between the Agency and Catholic Church, from whom
we purchased the property in 1983, obligates the Agencyto continue to provide the church
45 parking spaces.
Of particular concern, of course, is the interface between the project and the neighbors on
Belardo Road. The Developer has proposed two story townhome units facing Belardo,
Chino, and Alejo.
The three story elements (two stories over parking) would need to be set back at least 60
feet from the east -west streets and 75 feet from Belardo. lit's likely that the Architectural
Advisory Commission will want to see a view model that will show the relationship of any
third floor element to the three streets. Part of the ultimate approval of the project will be
conditioned on the third story elements being set back far enough as to not be visible from
the homes on Belardo Road.
This Agreement does not commit the Agency to providing any financial assistance to the
project. However, any Agency assistance request made by the Developer would only be
considered after the Agency has commossioned the standard "warranted assistance"
analysis of their pro Forma, done by Keyser Marston in Los Angeles. The warranted
assistance analysis will take the Developer's pro forma and test the cost and revenue
assumptions to derive a projected return. If the projected return, as vetted by Keyser
Marston, drops below the benchmark return (which varies according to the risk inherent in
the project) because of either extraordinary costs or a weak revenue picture then public
assistance is warranted to the project. The Agency is still free to decide to not provide any
assistance in the project.
Another part of the analysis of any assistance request, as noted above, will be the
calculation of the public benefit derived from the tax increment on the project, and figure
out when our payback is. We'll look at the opportunity cost, too. The basic deal is that the
,Agency swap the value of the land (or the air rights) in return for the Developer's cost to
redevelop the lot. The avoided parking lot redevelopment cost is a factor in that
calculation, too.
The Developer would own both air rights and the residential improvements, plus the private
(parking. However, we'll need to work on demising those ownerships so that we will be able
to figure out how the CC & Rs will work and how the Agency (or City) will vest its
ownership.
The steps in the negotiation process are as follows: (1) staff presents the Agreement for
approval bythe Agency; (2) once executed, the Agreementwill give the Developerthe right
to submit the project to Planning for approval, much as an option would; (3) the DDAwill be
negotiated during the Agreement period; and (4) and staff will bring the DDA forward for
approval once the project is nearing approval. The Planning approval process will be
concurrent and we could not bring the DDA for approval until the CEQA action can be
certified since, under California Redevelopment Law, the disposition of property by a
redevelopment agency is a CEQA action. Therefore, the Developer cannot finalize the
purchase of the property until after the entitlements have been obtained from the City.
The Developer has made an offer a value for the property that suggests that the value of
the land, since the Agency would retain the public parking on the site, is approximately the
same as the fee value of the property less the usage retained by the Agency.
The Exclusive Agreement is for a period of twelve months, during which staff will negotiate
a Disposition and Development Agreement with the Developer. A draft Agreement has
been included. In addition, the Developers, upon execution of this agreement, will make a
deposit to the Agency sufficient to cover the Agency's legal cost in preparing .DDA, as
well as their entitlement costs. i
FISCAL IMPACT: IFinance Director Review: C U 1
The Agency would receive a deposit for the Developer to cover its cost in the transaction,
as well as avoid a capital project cost in excess of $500,000 to renovate and upgrade the
parking lot.
J H AY ON
ctor of mmunity &
Economic Development
DAVID H. READYr�
Executive Director G
ATTACHMENTS:
'I. Agency Resolution
2. Exclusive Agreement to Negotiate
3. Conceptual Site Plans
4. Blocking Models (Photos)
THOMAS J. I' ON
Assistant City anager -
Development Services
1V0.Y.]Raj lIs] ►1►c a
OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS,
CALIFORNIA, APPROVING AN EXCLUSIVE
AGREEMENT TO NEGOTIATE FOR A PERIOD
OF TWELVE MONTHS WITH GLOBAL
INNOVATION DEVELOPMENT, INC. OF SANTA
MONICA, CALIFORNIA FOR A PARCEL OF
APPROXIMATELY 39,500 SQUARE FEET AT THE
NORTHEAST CORNER OF BELARDO ROAD AND
ALEJO ROAD FOR THE PURPOSE OF
DEVELOPING A RESIDENTIAL AND PUBLIC
PARKING PROJECT, MERGED PROJECTAREA
#1 (APN 505-324-002)
WHEREAS, the Community Redevelopment Agency of the City of Palm Springs, California
("Agency") is constituted underthe Community Redevelopment Law (California Health and
Safety Code Section 33000 et. seq.) to carry out the purpose as the redevelopment in the
City of Palm Springs ("the City"); and
WHEREAS in the project area is a parking lot parcel acquired by the Agency from the
Diocese of San Bernardino in 1983 to provide public parking in the north end of the Project
Area; and
WHEREAS the Agency is responsible for eliminating blight within the Central Business
District Constituent Area of Merged Redevelopment Project Area #1; and
WHEREAS Brian Linnekens of Global Innovation Development, Inc. has requested the
Agency to enter into an Exclusive Agreement to Negotiate on the parcel while he
negotiates a Disposition & Development Agreement with the Agency to acquire the parcel
For the purpose of developing a public parking and residential project on the site; and
WHEREAS, Section 33430 of the Community Redevelopment Law allows that an agency
may, "for purposes of redevelopment, sell, lease, for a period not to exceed 99 years,
exchange, subdivide, transfer, assign, pledge, encumber by mortgage, deed of trust, or
otherwise, or otherwise dispose of any real or personal property or any interest in property;"
and
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the
City of Palm Springs, as follows:
SECTION 1. This Amendment No. Ito the Exclusive Agreement to Negotiate with
Global Innovation Development, Inc., is hereby approved.
SECTION 2. The Executive Director, or his designee, is hereby authorized to
execute on behalf of the Agency the Amendment, in a form approved
by Agency Counsel.
ADOPTED this day of , 2006.
AYES:
NOES:
ABSENT:
ATTEST: COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA
By
Assistant Secretary Executive Director
REVIEWED & APPROVED AS TO FORM
EXCLUSIVE AGREEMENT TO NEGOTIATE
GLOBAL INNOVATION DEVELOPMENT, INC.
THIS EXCLUSIVE AGREEMENT TO NEGOTIATE ("AGREEMENT"), is made this
day of , 2006, by and between the PALM SPRINGS
COMMUNITY REDEVELOPMENT AGENCY ("AGENCY"), and GLOBAL INNOVATION
DEVELOPMENT, INC. ("DEVELOPER").
RECITALS
The parties entered into this Agreement on the basis of the following facts,
understandings, and intentions:
A. The Agency is a public body, corporate and politic, exercising governmental
functions and powers and organized and existing under the Community Redevelopment
Law of the State of California (Health and Safety Code Sections 33000, et seq.).
B. The Agency desires to effectuate the Amended and Restated Redevelopment
Plan for Merged Project Area # 1, formerly the Central Business District Redevelopment
Project Area, by providing for the development of a high quality residential condominium
project and downtown subterranean public parking structure project (the "Project') at the
northeast corner of Belardo Road and Alejo Road, commonly known as the Catholic
Church Parking Lot ("the Site")-
C. The Developer desires to construct a high quality residential condominium
project and downtown subterranean public parking structure project (the "Project') at the
Site using condominium financing. In addition, the Developer will keep the public parking
spaces on the Site by constructing subterranean parking. The term "Developer" as used
herein includes the principals, partners, and joint venturers of Developer and all obligations
of Developer herein shall be the joint and several obligations of such principals, partners,
and joint venturers.
D. The Agency and Developer desire, for the period set forth herein, to negotiate
diligently and in good faith to prepare an agreement whereby the Developerwould develop
such a hotel and residential project on the site.
NOW, THEREFORE, and in consideration of the mutual covenants hereinafter
contained, it is mutually agreed upon by the parties as follows:
SECTION 1. NATURE OF NEGOTIATIONS.
A. Good Faith. The Agency and the Developer agree that forthe period set forth
in Section 2 herein they will negotiate diligently and in good faith to prepare and enter into
an agreement (the "DDA") consistent with the provisions of this Agreement for the
development of a new public parking structure and residential project on the Site specified
herein. The development will be subject to all rules, regulations, standards, and criteria set
forth in the Redevelopment Plan, the City's General Plan applicable specific plans and
zoning regulations, and with this Agreement.
B. Site. The Project shall be located upon the following real property, as shown
in the "Site Map," attached hereto as Exhibit "A" and incorporated herein by this reference.
The Site is currently owned by the Community Redevelopment Agency-
C. Construction and Ownershio Conceot. The Agency shall retain a fee
ownership of the Site and shall grant to Developer any and all easements, ownership
rights, or other interests (collectively, the "Residential Easement") as are necessary or
helpful for Developer's proposed Residential Project. The design shall be consistent with
the Agency's and the City's design approval process (Architectural Advisory Committee and
Planning Commission approvals). Developer's architect shall work with the City's design
guidelines to create a harmonious and attractive high quality residential project with a
distinct identity. The Developer shall be responsible for financing and constructing all
improvements upon the Site, and the Agency may be responsible for some of the off -site
and street improvements as they serve the public parking structure. The project shall be of
a size and quality adequate to achieve the mutual vision of the property. The Site will be
subject to a declaration of covenants, conditions, and restrictions to govern the co-
existence of the public parking lot and the residential community.
D. Financial Provisions, The Developer is responsible for acquisition of the site
and financing and constructing all improvements upon the Site. Developer and Agency
shall negotiate the cost share of all necessary public improvements.
E. Schedule. The Developer's goal is to complete the entitlement and design of
the Project by October 31, 2007. The DDA shall contain a Schedule of Performance. The
Agency and Developer shall agree on a proposed itemized project schedule through the
DDA process; attached hereto as Exhibit C. Agency and Developer shall meet semi-
monthly in order to review Developer's progress and to allow the Agency to comment upon
the acceptability of the Developer's efforts to date. In the event that the Executive Director
determines that the Developer's efforts are not progressing to the Executive Director's
satisfaction, then, Executive Director will notify Developer of his concerns and propose
reasonable options for Developer to rectify them.
In the event that during the course of Development, Agency and Developer agree
that for reasons out of the Developer's control the schedule per Exhibit C needs to be
adjusted in order to allow more time then the Agency, in good faith, agrees to adjust the
schedule to provide a reasonable opportunity for Developer to complete the development
process.
F. Adiustment of Period of Negotiation. In the event that during the Period of
Negotiation, Executive Director and Developer agree that in the event the Period of
Negotiation needs to be adjusted in order to allow more time to complete negotiations due
to reasons out of the Developer's control, the Executive Director may recommend to the
Agency that the Period of negotiation be adjusted to provide a reasonable opportunity for
Developer to complete the development process.
The above time requirements may be adjusted up to a cumulative 180 days at the
discretion of the Executive Director where Developer is proceeding in good faith to perform
under this Agreement.
G. Use and Transfer Restrictions. The DDA will generally be subject to
restrictions on use and transfer during construction and for a specified period thereafter
through recorded restrictions (i) to assure that the use will be consistent with and promote
the residential project, (ii) to prevent speculation, (iii) to assure that any transferee has the
resources, capability and experience to successfully develop the project, (iv) to assure
Gong -term maintenance of the public parking in attractive condition, and (tv) to provide an
adequate financial return to the Agency.
H. This Section Reserved.
I. Exclusivitv. The Agency agrees for the period set forth in Section 2 that it will
not negotiate with or enter into any agreement with any other entity for development or sale
of the Site.
SECTION 2. PERIOD OF NEGOTIATIONS..
The intent of this period of negotiation shall be for both parties to proceed with the drafting
of the Disposition and Development Agreement, which shall require a CEQA action by the
Agency. An Initial Study for CEQA purposes shall be undertaken for the purpose of
determining the appropriate CEQA action. Once the appropriate action is determined, a
more precise environmental timeline can be developed. Therefore, this Agreement shall
be for up to one year from the date this Agreement is signed by the Agency, and this
Agreement shall terminate after the expiration of such period unless extended as follows:
A. For sixty (60) days if a Disposition and Development Agreement has been
prepared by the Agency and executed by the Developer, and has been submitted to the
Agency but has not yet been approved by the Agency Board; or
B. For thirty (30) days if the major business terms have been agreed to and the
Executive Director determines that further negotiations are likely to result in a written
agreement; or
C. By mutual agreement of the parties.
D. Or the cumulative days of extension granted by the Executive Director per
Section 1.E above.
Developer understands and acknowledges that if negotiations culminate in an
agreement, such agreement shall be effective only after and if the Agreement has been
considered and approved by the Agency Board after public hearing thereon as required by
law.
SECTION 3. DEVELOPER'S RESPONSIBILITIES.
During the period of negotiation, Developer will prepare such studies, reports, and
analysis as shall be necessary to permit Developer to determine the feasibility of the hotel
project. The Developer shall fully cooperate in the development of the Project design and
financing plan. During the period of negotiation and as requested by the Agency, the
Developer shall submit to the Agency the following:
A. Full disclosure of Developer's principals, partners, joint venturers, negotiators,
consultants, professional employees, or other associates of the Developer who are
participants or principals of the Project, and all other relevant information concerning the
above.
B. Statement of financial condition in sufficient detail to demonstrate Developer's
financial capabilities, those of its principals, partners, joint venturers, and those of its
prospective Developers to satisfy the commitments necessitated by the Project. To the
extent Developer wants such financial statements to remain confidential, they shall be
supplied to the Agency only if the confidentiality of the statements can be maintained.
C. All information necessary for the design of the Project to meet the
Developer's reasonable requirements
D. The Developer shall negotiate exclusively with the Agency's negotiating team
and with no other persons unless expressly authorized to do so by the Agency's negotiating
team. During the period of negotiations, Developer and Agency shall coordinate
community and neighborhood outreach efforts; no statements will be made by the
Developer to the media without the approval of the Agency's negotiating team. No
prepared statements shall be released to the media without the mutual consent of the
respective negotiating teams. The Developer shall also cooperate with Agency, which will
manage the environmental review of the project, as well as the project planning contract
through the City' Focused Entitlement Process
E. Prior to and as a condition precedent to the execution of this Agreement by
the Agency, Developer shall submit to the Agency a minimum initial deposit in the amount
of Twenty Five Thousand Dollars ($25,000.00) in the form of cash or check, deposited into
a trust account selected by the City Treasurer, in his sole discretion, to pay for all costs
incurred by the Agencies in the preparation, review, and analysis of all applications,
entitlements, and approvals required for or related to, the negotiation, preparation, and
processing of the DDA and any documents related to the conveyances of interests in real
property, the preparation and circulation of all requisite environmental documents and
reviews required under law, the conduct of all required and desired public hearings, public
reviews, and any other public meetings, and for any other costs incurred by the Agency,
and the Agency's respective officers, staff, employees, agents, and consultants in the
furtherance of this Agreement. The term "all costs incurred by the Agency" includes all in-
house staff time and expenses and all costs, fees, and expenses reasonably incurred by
outside consultant and professional service providers of any kind retained by the Agency to
assist the Agency in any or all of the above functions, including any legal, environmental,
planning, engineering, financial analysis, negotiations, appraisals, public relations, and any
other appropriate services, and all out of pocket expenses incurred by the Agency. If the
Agency's costs associated with its obligations under this Agreement exceed the deposit
amount, the Agency at its sole discretion reserves the right to require the Developer to
increase the deposit to an amount adequate to cover the actual or anticipated costs.
Within ten calendar days of written notice of such increase, Developer shall submit to the
Agency in cash or check an amount equal to the difference between the initial deposit and
the increased deposit amount.
SECTION 4. AGENCY'S RESPONSIBILITIES.
A. Negotiate Exclusively. The Agency agrees that, during the Period of
Negotiation and provided that the Developer is not in default of its obligations under this
Agreement, the Agency shall negotiate exclusively and in good faith with Developer with
respect to the DDA. During the Period of Negotiation, the Agency shall not solicit or
entertain offers or proposals from other parties concerning the Site. Developer
acknowledges, however, that the Agency may, from time to time, be contacted by other
developers respecting the Site and that such contact is expressly permitted so long as the
Agency does not initiate such contacts and the Agency indicates to such other developers
that the Agency has executed this Agreement with Developer and that the Agency is
unable to discuss anything concerning these negotiations with Developer, entertain any
offer or proposal, or negotiate with any other developer regarding the Site until the Period
of Negotiation expires or this Agreement is terminated, as provided in this agreement.
B. Preparation of Aareement. If agreement is reached on the business terms for
inclusion in the DDA, the Agency shall prepare such DDA for consideration by the
Developer. Agency's legal and appraisal expenses shall be chargeable against the initial
deposit as provided in Section 3 E of this Agreement. Agency shall notify Developer of the
amount of the appraiser contract and provide monthly notification of the legal costs of
preparing the DDA.
C. Plannina ADorovals. The Agency will undertake all acts necessary to assist
Developer in securing necessary permits as may be necessary to permit the
commercial/residential development at the Site, including hiring the environmental review
firm and planning firm and assisting with the presentations and staff reports made to the
City's review boards.
D, Contract Authority. The Executive Director is authorized to enter into
contracts on behalf of the Agency for the purposes of planning, environmental review,
appraisals, and such other services identified in Section 3 E of this Agreement in any
amount, provided such contracts have been funded by Developer and the contract amount
has been deposited with Agency by Developer under the same terms and conditions
described in Section 3 E above.
SECTION 5. MISCELLANEOUS.
A. Brokeraae commission. No brokerage has been retained during the
negotiation of this agreement.
B. Exchanoe of Prooertv Riohts for Assets. The Developer has offered and
the Agency has have preliminarily determined that the Residential Easement is
substantially equal to the value of the New Parking Structure. It is the opinion of both
parties that the exchange of the Residential Easement for the New Parking Structure,
delivered to the Agency free -and clear of all.debts, represents a fair market exchange and
constitutes sufficient inducement and consideration for the parties to enter into this
Agreement.
C. Ownership of Documents. In the event the Period of Negotiations expires
without execution of the DDA, Developer shall transfer to Agency copies of any reports,
studies, analysis, site plan layouts, development cost estimates, engineering studies,
regarding the proposed development and prepared during the Period of Negotiations,
which copies shall become the property of Agency. Such transfer shall be made without
any representation or warranty by the Developer as to the accuracy or sufficiency of the
contents of such documents and shall be made subject to the rights of the preparers of
such documents including, without limitation, the copyright (if any) associated with such
documents.
D. Purpose of Contract. It is expressly understood and agreed by the parties
hereto that this is an Agreement regarding the conduct of contract negotiations only and
does not convey any interest in the property whatsoever. It is further agreed and
understood that this Agreement does not imply any obligation on the part of the Agency to
enter into any agreement that may result in negotiations contemplated herein.
Nevertheless, the Agency would not have entered the Agreement if the Developer's
proposal did not fulfill Agency's objectives under the Redevelopment Plan and have merit,
as represented.
E. Amendment. This Agreement may only be amended by a document in
writing signed by the parties hereto.
F. Time for Acceptance. This Agreement, when executed by the Developer and
delivered to the Agency, shall constitute a binding offer which cannot be withdrawn prior to
September 30, 2006, so that the Agreement may be presented to the Agency Board.
Notwithstanding any other provision herein to the contrary, Agency shall not be obligated
hereunder unless and until the Agency Board authorizes the Chairman to execute this
Agreement.
G. Corporate Authoritv. The persons executing this Agreement on behalf of
the parties hereto warrant that (i) such party is duly organized and existing, (ii) they are duly
authorized to execute and deliver this Agreement on behalf of said party, (iii) by so
executing this Agreement, such party is formally bound to the provisions of this Agreement,
and (iv) the entering into this Agreement does not violate any provision of any other
Agreement to which said party is bound,
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
first above written.
"AGENCY"
ATTEST:
Agency Secretary
APPROVED AS TO FORM:
Agency Counsel
COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS, a public body,
corporate and politic
Chairman
[SIGNATURES CONTINUED ON NEXT PAGE]
[NOTARIZED]
[NOTARIZED]
"DEVELOPER"
GLOBAL INNOVATIVE DEVELOPMENT, INC.
(Check One:
_individual, _partnership, _corporation)
Print Name:
Print
Title:
Print Name:
Print
Title:
Mailing Address:
Signature
Signature
(Corporations require two signatures; one from each of the following: (A) Chairman of
Board, President, any Vice President; AND (B) Secretary, Assistant Secretary, Treasurer,
Assistant Treasurer, or Chief Financial Officer.)
[END OF SIGNATURES / NOTARY JURAT(S) FOLLOW]
STATE OF CALIFORNIA )
) ss.
COUNTY OF 1
ON
Public,
personally
before me,
,, Notary
appeared
personally known to me (or 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.
Witness my hand and official seal.
Signature
STATE OF CALIFORNIA )
) ss.
COUNTY OF 1
ON
Public,
personally
, before me,
[SEAL]
_, Notary
appeared
personally known to me (or 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), orthe entity upon behalf of which
the person(s) acted, executed the instrument.
Witness my hand and official seal.
Signature
[SEAL]
EXHIBIT "A°
TO EXCLUSIVE AGREEMENT TO NEGOTIATE
LEGAL DESCRIPTION OF THE PROPERTY
The parcel is located in the City of Palm Springs, County of Riverside, bearing APN
Numbers APN 505-324-002.
EXHIBIT "B"
TO EXCLUSIVE AGREEMENT TO NEGOTIATE
MAP OF THE PROPERTY
i
J
p uHaC� IH n`•He.uuu C 6 G rh L IN Y 0
I _
•j mull,
IIII(r IIIr m'. - iL
J1�-IuuuWlllllunlllw 1 �� �� R- yy Q ��; L - ; uuuGuy�uoouuu
l�il ==p` = I a'�"rts p.penifmwenw aims m. li I M,
f
{ y II UIII-
{ iGa il{I11 IJ .
:I
II-
_ ! ,.w .,e. a,m, 1b _
t
161 1- - — --------� --_-------r Ohl -�_
I i
I
NOcTl I BELA�I� �yj�
W-H
- rr--
I
...... _— _ E ..u_L.
� II
I�
r
T I
I! CI i
---....J---- ............... ...........
�.......- ---... y
r
Street View from Corner of
Chino Road and Belardo Road
r