HomeMy WebLinkAbout5/28/2008 - STAFF REPORTS - 2.D. Q4pALM SA?
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</FORN� CITY COUNCIL STAFF REPORT
DATE: MAY 28, 2008 Consent
SUBJECT: GROUND LESSOR'S CONSENT, NONDISTURBANCE AND
ATTORNMENT, AND ESTOPPEL AGREEMENT WITH AP-PALM
SPRINGS AIRPORT LLC AND BANK OF AMERICA.
FROM: DAVID H. READY, CITY MANAGER
BY: DOUGLAS C. HOLLAND, CITY ATTORNEY
RECOMMENDATION:
Staff recommends that the City approve the attached Ground Lessor's Consent,
Nondisturbance and Attornment, and Estoppel Agreement ("Consent") with AP-Palm
Springs Airport LLC ("Lessee") and Bank Of America.
STAFF ANALYSIS:
The City entered into ground leases (Leases) with Lessee's predecessor in interest in
1988 with reference to three parcels of land owned by the City near the airport. Due to
slow payment, and for other reasons, the Lease was amended in 1993 and 2002, and
the City executed an additional Estoppel in 2002. Two buildings have been built on two
the three parcels covered by the Leases. These buildings will become property of the
City when the Lease, as amended, terminates in the year 2037. The Lessee has
secured financing to construct a third building on the third parcel of land. In connection
with that financing, it submitted to the City a standard Ground Lessor's Consent,
Nondisturbance and Attornment, and Estoppel Agreement.
The purpose of such an Consent is three-fold: 1) it serves as written documentation that
the City consents to an assignment of Lessee's rights and obligations to the Lender in
the event of Lessee's default of its obligations to the Lender; 2) it provides the Lender
reassurance that the Lease is currently in farce because the City makes representations
that the Lessee is not currently in default; and 3) it further memorializes that the Lender
understands that, should it acquire the Lessee's obligations under the Lease
Agreement, it is obligated to the City to the same extent as the Lessee from which it
acquired the Lease.
5772861 Item No. 2 • D •
City Council Staff Report May 28,2008
Ground Lessor's Agreement Pagc 2 of 2
The City's discretion to reject the Agreement is extremely limited. Under the terms of
the Leases, as amended, the Lessee is allowed to encumber its leasehold interest (but
not the land itself) and requires the City to consent to an assignment by Lessee of its
leasehold interest except when such assignment would be unreasonable. The City
Attorney's office asked the Lessee to further amplify in the agreement that the City's
underlying rights in the land are unaffected by the encumbrance of the Lessee's
leasehold and the Lessee made conforming changes to the Agreement. The City's
consent to he Agreement is necessary for the Lessee to complete its financing.
Dougla Holland, City Attorney David Ready, ager
Attachments: Proposed Ground Lessor's Consent, Nondisturbance and
Attornment, and Estoppel Agreement
$777,FF 1
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
Snell & Wilmer L.L.P.
600 Anton Boulevard, Suite 1400
Costa Mesa, California 92626
Attention: Coleen Gregory
Space above for Recorder's use
GROUND LESSOR'S CONSENT,NONDISTURBANCE AND ATTORNMENT. AND
ESTOPPEL AGREEMENT
This Ground Lessor's Consent, Nondisturbance and Attornmeut, and Estoppel
Agreement (this "Aarccmcnt") is dated as of May _, 2008, by and among CITY OF PALM
SPRINGS, a municipal corporation ("Lessor"), AP-PALM SPRINGS AIRPORT LLC, a
Delaware limited liability company ("Lessee"), and BANK OF AMERICA, N.A., a national
banking association ("A•ent") as agent for itself and each of the lenders (each a "Lender" and
collectively "Lenders") under the Loan Agreement by and between Agent, Lenders and Lessee
as "Borrower" dated as of May _, 2008 ("Loan Agreement"), with reference to the following
facts and circumstances:
A. Lessor and Lessee are parties to that certain Indenture of Lease Agreement No.
2528 elated as of May 1, 1988, as amended by that certain First Amendment to Lease Agreement
#2528 dated as of April 28, 1993, that certain Second Amendment to Lease Agreement #2528
dated as October 21, 1993, that certain Third Amendment to Lease Agreement#2528 dated as of
December 15, 1993, that certain Fourth Amendment to Lease Agreement No. 2528 dated as of
October 25, 2000, and that certain Agreement and Estoppel of Ground Lessor for Lease No.
2528 dated as of January 7, 2002, by and among the City of Palm Springs, as lessor, and Trustor,
as lessee; (ii) that certain Indenture of Lease Agreement No. 2529 dated as of May 1, 1988, as
amended by that certain First Amendment to Lease Agreement#2529 dated as of April 28, 1993,
that certain Second Amenchnent to Lease Agreement 42529 dated as October 21, 1993, that
certain Third Amendment to Lease Agreement #2529 dated as of December 15, 1993, that
certain Fourth Amendment to Lease Agreement No. 2529 dated as of October 25, 2000, and that
certain Agreement and Estoppel of Ground Lessor for Lease No. 2529 dated as of January 7,
2002, by and among the City of Palm Springs, as lessor, and Trustor, as lessee; and (iii) that
certain Indenture of Lease Agreement No. 2636 dated as of November 3, 1988, as amended by
that certain Amendment No. I to Indenture of Lease Agreement No. 2528 dated as of January 2,
1991, that certain Second Amendment to Lease Agreement tt2636 dated as October 31, 1993,
that certain Third Amendment to Lease Agreement #2636 dated as of December 15, 1993, that
certain Fourth Amendment to Lease Agreement No. 2636 dated as of October 25, 2000, and that
certain Agreement and Estoppel of Ground Lessor for Lease No. 2636 dated as of January 7,
2002, (as amended and as may be hereafter amencled from time to time, the "Current Ground
Leases'), as more particularly described in Exhibit A attached hereto, pursuant to which Lessor
has leased to Lessee, and Lessee has leased from Lessor, certain real property in the City of Pahn
Springs, Riverside County, California, as more particularly described on Exhibit B attached
hereto (the"Pro e
MC1,1ILGl5NDM5\6728508 3 -1-
0UCH
B. Pursuant to that certain Constriction Deed of Trust, Assignment, Security
Agreement and Fi%lure Filing (California) dated as of _, 2008 (the "Deed of
TrusC'), made by Lessee, as Mistor, to PRLAP, INC., a North Carolina corporation, as trustee,
for the benefit of Agent in its capacity as Agent for the Lenders as Beneficiary, Lessee is
granting a lien to Agent, for the benefit of Lenders, on all oC Lessee's right, title and interest in
the Property and the Lease (the "Tenants Estate")- Tr is the intent of Lessor and Lessee by way
of this Agreement to provide certain rights to Agent (and any successor-in-interest to Agent,
whether by designation, assignment, refinancing or otherwise) and Lender's with respect to the
Current Ground Leases that they might not otherwise have as the holder of an encumbrance on
the Property ("Encumbrance Holder"). Accordingly, this Agreement shall be interpreted as
providing additional protections for the benefit of Agent, Lenders and their permitted assigns and
the other parties hereto. Agent confirms and agrees that the Deed of Trust will not encumber or
create a lien on the fee interest of Lessor in the Property or on any interest of Lessor as "Lessor"
under the Current Ground Leases-
C. In this Agreement, (i) the term"Tenant" shall mean and be deemed to refer to the
holder of Tenant's Estate during any time that any obligation of Lessee to Agent and/or Lenders
which is secured by the Deed of Trust remains unsatisfied, (ii) the tern "Transfer of the
Pro e " shall mean any transfer of Tenant's interest in the Property, including, but not limited
to Tenant's light, title and interest under the Curent Ground Leases, by foreclosure, trustee's
sale or other action or proceeding for the enforcement of the Leasehold Mortgage (as hereinafter
defined) or by deed or assignment in lieu thereof, and (iii) the tern "Purchaser", shall mean any
transferee, including Leasehold Mortgagee (as hereinafter defined), of the interest of Tenant as a
result of any such Transfer of the Property and also includes any and all successors and assigns,
including Agent or Lenders, of such tunsferee, (iv) the term "Leasehold Mortgagee" shall mean
Agent and Lenders, collectively, and any successor-in-interest to Agent or Lenders, whether by
designation, assignment, refinancing or otherwise, and (v) the term "Leasehold Mortgage" shall
mean the Deed of Trust and any corresponding successor thereto.
NOW, THEREFORE, for good and valuable consideration the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows:
1. Lessor's Consent to Leasehold Morteaue. Lessor hereby consents to the lien of the Deed
of Trust upon Lessee's interest under the Current Ground Leases. Agent confirms and agrees
that the Deed of Trust will not encmnber or create a lien on the fee interest of Lessor in the
Property or on any interest of Lessor as "Lessor" under the Current Ground Leases. Lessor
hereby consents to the assignment of the Lessee's leasehold interest under the Current Ground
Leases pursuant ro the temps of the Deed of Trust. Lessor acknowledges and agrees that any
limitations set forth in doe Current Ground Leases regarding doe Transfer of the Property or the
sale or transfer of Lessee's interest thereunder shall be inapplicable to any sale of Lessee's
interest under the Current Ground Leases which may be effected in connection with any judicial
or non judicial foreclosure of the Deed of Trust. The Current Ground Leases may be assigned
without Lessor's further consent to Agent, any Lender or to any other person or entity, pursuant
to a foreclosure of, or trustee's sale under the Deed of Trust, or pursuant to an assiggmnent of
Lessee's interest in Current Ground Leases in lieu of foreclosure.
MCMILLASWDMS\S7IS5US 3 -�-
2. Request for Notices. Agent shall be deemed to have requested notice under the Current
Ground Leases for all notices that are either required to be given Linder the terms of the Current
Ground Leases or which are specifically authorized to be given under Current Ground Leases in
order for a party to pursue its rights. This includes, without limitation, any notice of default,
notice to terminate and any other notice under the Current Ground Leases which is required to
implement any term of the Current Ground Leases or to make any election provided in the
Current Ground Leases. Lessor and Lessee shall deliver or mail in the United States mail,
postage prepaid, to Agent a duplicate and concurrent copy of any such notice. Agent shall not be
required to make any further request for notice.
3. Nondisturbance. Lessor agrees that the cnforccmcnt of the Deed of Trust shall not
terminate the Current Ground Leases or disturb any Purchaser, including Agent or any Lender if
it should be the Purchaser, in obtaining the right of, and continuing as, lessee (as successor-in-
interest to Lessee) in the possession and use of the Property, unless, after such foreclosure, such
Purchascr fails to cure any default under the Current Ground Leases susceptible to cure by such
Purchaser, in accordance with the terns of this Agreement. This nondisturbance applies to any
option to extend or renew the Current Ground Ceases term which is set forth in the Current
Ground Leases as of the date of this Agreement, or which is later entered into between Lessor
and Lessee with the consent of Agent. This nondisturbanee shall be effective and self-operative
without the execution of any further instruments upon Purchaser's succeeding to the interest of
the lessee under the Current Ground Leases. Upon completion of any foreclosure or trustee's
sale proceedings by Agent or Lenders wider the Deed of Trust (or completion of an assignmem
of the Current Ground Leases in lieu of foreclosure), Lessor will recognize Agent, Lenders, or
any other successor thereby to Lesscc's interest in the Current Ground Leases, as the lessee
under the terms of the Current Ground Leases for all purposes thereunder and for the remaining
term thereof.
4. Attonunent. Subject to Section 3 above, if any Transfer of the Property should occur,
any Purchaser, including Agent or Lenders, if either should be the Purchaser, shall, and hereby
does, attorn to Lessor, as the landlord under the Current Ground Leases, and Purchaser shall be
bound to Lessor under all of the terms, covenants and conditions of the Current Ground Leases
for the balance of the Current Ground Leases' respective terns and any extensions or renewals
of it which may then or later be in effect under any validly exercised extension or renewal option
contained in the Current Ground Leases, all with the same force and effect as if Purchaser had
been the original lessee under the Current Ground Leases.
5. Limitation on Agent's Performance Agent's Rights Prior to Foreclosure. Nothing in this
Agreement shall be deemed to construed to be an agreement by Agent or Lenders to perform any
covenant of Lessee as lessee Linder the Current Ground Leases, unless and until Agent or Lenders
become a Purchaser and succeeds to the Lights and obligations of lessee under the Current
Ground Leases. Lessor agrees that, if Agent or Lenders become a Purchaser, then, upon
subsequent transfer of the Property by Agent or Lenders to a new owner, Agent or Lenders shall
have no further liability under the Current Ground Leases after said transfer. Agent or Lenders
may, but shall not be required to, pay any of the rent due under the Current Ground Leases,
procure and maintain any insurance, pay any taxes or other impositions, make any repairs or
improvements, make any election (such as an election to extend the temi or coverage of the
Current Ground .Leases, if that were provided in the Current Ground Leases), and do any other
MCMILLJ\MINIS\8728509 1 -3-
act required of Lessee by the terms of the Current Ground Leases in order to cure a default of
Lessee, prevent a forfeiture of the Current Ground Leases, or otherwise protect its interest in the
Tenant's Estate. Any such payment or act by Agent or Lenders shall be as effective hereunder as
if done by Lessee, and may be done by Agent or Lenders without assuming the obligations of
Lessee under the Current Ground Leases and without causing a default under the Current Ground
Leases, and Lessor shall accept such payment or act by or at the instance of Agent or Lenders as
if the same had been made by Lessee. In this regard, Agent or Lenders,pursuant to the terms of
the Deed of Trust and for purposes of protecting its interest in the Tenant's Estate, may seek a
court-appointed receiver to enter into possession and control of the Property.
6. Limitation of Agent's Obligations. Agent or Lenders, if they become the Purchaser or if
they takes possession under the Deed of Trust, or any other Purchaser, shall not (a) be liable for
any damages or other relief attributable to any act or omission of any prior lessees under the
Current Ground Leases, including Lessee (excepting the cure of existing defaults raider the
Current Ground Leases to the extent that such Purchaser has knowledge of such defaults); or (b)
be bound by any modification or amendment of or to the Current Ground Leases unless the
amendment or modification shall have been approved in writing by Agent.
7. Mortgagee Protection Provisions. Agent or Lenders shall be deemed to be a third party
beneficiary of the Current Ground Leases with respect to any and all provisions of the Current
Ground Leases, if any, which benefit a lender(`,Mortgagee Protection Provisions"). This section
is intended to supplement and not to limit any Mortgagee Protection Provisions in the Current
Ground Leases. Notwithstanding anything to the contrary in the Current Ground Leases, Lessor
may terminate the Current Ground Leases because of a default thereunder (where termination is
an available remedy under the Current Ground Leases) only after Lessor, in accordance with the
Current Ground Leases and this Agreement, has delivered or mailed notice of such termination
to Agent at the address set forth herein, specifying such default, and Agent and Lenders shall
have the cure rights provided in the Mortgagee Protection Provisions of the Current Ground
Leases.
8. No Amendments.
(a) So lung as the Deed of Trust is in effect, then except with respect to termination
of the Current Ground Leases as a result of a default as permitted herein, the Current Ground
Leases will not be voluntarily canceled, surrendered, terminated, amended, modified or in any
manner altered, or any provisions thereof waived or deferred by Lessee, without the prior written
consent of Agent, which consent shall not be unreasonably withheld, conditioned or delayed.
(b) Lessor and Lessee covenant and agree to cooperate in executing such additional
documents as may reasonably be requested by Agent as are reasonably necessary and are for the
purpose of implementing the Current Ground Leases and this Agreement, including, without
limitation, the Mortgagee Protection Provisions contained in the Current Ground Leases or
herein and allowing Agent reasonable means to protect or preserve the lien of the Deed of Trust
on the occurrence of a default by Lessee hereunder.
9. No Merger. So long as the Deed of Trust is in effect, Tenant's Estate will not merge with
Lessor's fee estate in the Property by reason of the fact that (a) Tenant's Estate is acquired by
MC 11LLI\S kDMS\87285U8 3 -4-
Lessor, or(b) Lessor's fee estate is acquired by Lessee, and no merger shall otherwise operate to
defeat any lien held by Agent or Lendcrs. While the Deed of Trust is in effect, Lessor shall not
transfer its fee interest in the Property unless such transfer is made subject to the Current Ground
Leases and this Agreement.
10. Sublease. Lessor hereby consents to Lessee's grant to Agent and Lenders of a security
interest in the personal property owned by Lessee and located at the Property and a collateral
assignment of subleases by Lessee of all or any portion of the Property and the rents, issues and
profits therefrom, if any. Lessor agrees that any interest Lessor may have in such personal
property or subleases, as the case may be, whether granted pursuant to the Current Ground
Leases or by statute, shall be subordinate to the interest of Aacnt and Lenders tinder the Deed of
Trust. For so long as the Current Ground Leases or any new lease shall be in effect, Lessor shall
not disturb the possession, interest or quiet enjoyment of any subtenant.
11. Insurance Proceeds; Condemnation Awards. Notwithstanding anything to the contrary in
the Current Ground Leases, in the event of any damaac to or destruction of the Property or any
portion thereof or interest therein, upon the request of Agent, the proceeds of Lessee's insurance
shall be deposited with Agent and shall be applied in accordance with the applicable provisions
of the Deed of Trust. It is understood and acknowledged that the failure to apply the insurance
proceeds to repair and reconstruction of the Property shall not limit, restrict or in any way waive
Lessee's obligation to repair and reconstruct the Property following an event of damage and
destruction as more specifically provided in the Current Ground Leases. Lessor acknowledges
that Lessee's interest in its portion of any condenmatuon proceeds to which it is entitled under the
Current Ground Leases shall be applied in accordance with the applicable provisions of the Deed
of Trust and the Loan Documents (as defined in the Deed of Trust). Nothing herein shall be
construed to effect, in any way, any separate insurance or condemnation proceeds payable to
Lessor based upon Lessor's fee interest in the Property, or otherwise separate insurance or
condemnation proceeds from those proceeds attributable to Lessee's leasehold estate in the
Property and interest in the improvements located thereon.
12. Recourse Against Agent. Lessor's recourse against Agent or Lenders shall be expressly
limited to Agent's or Lenders' interest in the Current Ground Leases.
13. Ground Lessor's Esioppcl Certificate.
(a) True and Complete Lease. Lessor represents and warrants to Agent and Lenders
that Exhibit A accurately identifies the Current Ground Leases and all amendments,
supplements, side letters and other agreements and memoranda pertaining to the Current Ground
Leases,the leasehold estate and/or the Property.
(b) No Default. As of the date of this Agreement, Lessor represents and warrants
that, to the best of Lessor's knowledge, there exist no events of default or events that, with notice
or the passage of time or both, would be events of default under the Current Ground Leases on
the part of Lessor or Lessee. Lessor represents arid warrants that the Current Ground Leases are
in full force and effect as of the date of this Agreement.
MC.MIu.nSWT)W8728508 3 -5-
f3��� � s
(c) No Other Leases. To the best of Lessor's knowledge and belief, as or the date of
this Agreement, there are no leases, options or other agreements regarding transfer of any interest
in, or otherwise materially affecting the Property other than the Current Ground Leases.
(d) No Advance Payments. No rent or other,Sums payable under the Current Ground
Leases have been paid more than thirty (30) days in advance;.
(e) No Prior Assignments. Lessor has not received notice of any prior assigmment,
hypothecation or pledge of Lessee's interest in the Current Ground Leases.
(f) No Pending Litigation/Violations. Lessor has not received notice of any litigation
pending, proposed or threatened against or in connection with the Property or the Current
Ground Leases. Lessor has not sent or, to the best of Lessor's knowledge and belief, received
any written notice that the Property, or any part thereof, is in violation of any laws, ordinances or
regulation-, which could materially affect any of Lessee's rights or materially increase any of
Lessee's obligations under the Current Ground Leases.
(g) Hazardous Substances. Except for such legal and commercially reasonable use by
Lessor, Lessee and any subtenant, Lessor has no actual knowledge that any Hazardous Substance
is present or has been used, generated, released, discharged, stored or disposed of by any party
on, under, in or about the Property. As used herein, "Hazardnuus Substance" means any
substance, material or waste (including petroleum and petroleum products), which is designated,
classified or regulated as being "toxic" or "hazardous" or a "pollutant" or which is similarly
designated, classified or regulated under any federal, state or local law, regulation or ordinance.
14. Authorization. Lessor and Lessee represent that Lessor and Lessee each have the
necessary power and authority to execute this Agreement and each have obtained all of the
consents or approvals of all parties necessary to effectuate the terms of this Agreement.
15. Termination of Agreement. This Agreement shall terminate when the obligations secured
by the current Leasehold Mortgage have been paid in full; it being understood and agreed that
this Agreement shall survive any transfer or assignment of Tenant's interest in the Current
Ground Leases.
16. Address of Agent.
Bank of America,N.A.
5 Park Plaza, Suite 500
Irvine, California 92614
Attn: Angie Phan
with a copy to :
Snell & Wilmer L.L.P.
600 Anton Boulevard, Suite 1400
Costa Mesa, California 92626
Attn: Victor J. Roehrn III, Esq.
MChIRS❑SWpMM7205003 -6-
17, lntehration. This Agreement integrates all of the terms and conditions of the parties'
agreement regarding Lessor's consent to the Deed of Trust, attonnnent, nondisturbance, and the
other matters contained herein. This Agreement supersedes and cancels all oral negotiations and
prior and other writings with respect to such attoinment, non-disturbance and other matters
contained herein. This Agreement may not be modified or amended except by a written
agreement signed by the parties or their respective successors-in-interest.
18. Counterparts. This Agreement inay be executed in one or more counterparts, each of
which shall be deemed an oiiginal, but all of which together constitutes one and the same
instrument.
[Signalirres appear on following page,]
MCMILI,MWgNMS728500 3 -7-
IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto as of
the date first set forth above.
LESSOR:
APPROVED AS TO FORM
CITY OF PALM SPRINGS, a
municipal corporation
City Attorney
By: Date:
Name:
Title:
TENANT:
AP-PALM SPRINGS AIRPORT LLC,
a Delaware limited liability company
By DGA-Properties II LLC,
a Delaware limited liability company
its manager
By: Abbey-Properties LLC,
a California limited liability company,
its Manner
By:
Name:
Title:
APPROVED BY AGENT:
BANK OF AMERICA,N.A.,
a national btniting association
By:
Name:
Title:
MCMILLJ\SWAM$\X91X50$3
EXHIBIT A
DESCRIPTION OF THE LEASE
That certain leasehold estate of the Property set forth in Exhibit 13 to this Agreement. The
Current Ground Leases is evidenced by the following documents and instruments:
1. That certain Indenture of Lease Agreement No, 2528 dated as of May I, 1988, as
amended by that certain First Amendment to Lease Agreement 42528 dated as of April 28, 1993,
that certain Second Amendment to Lease Agrecment #2528 dated as October 21, 1993, that
certain Third Amendment to Lease Agreement 42528 dated as of December 15, 1993, that
certain Fourth Amendment to Lease Agreement No. 2528 dated as of October 25, 2000, and that
certain Agreement and Estoppel of Ground Lessor for Lease No. 2528 dated as of January 7,
2002, by and among the City of Palm Springs, as lessor, and AP-Palm Springs Airport LLC, as
lessee;
2. That certain Indenture of Lease Agreement No. 2529 dated as of May 1, 1988, as
amended by that certain First Amendment to Lease Agrecment 42529 dated as of April 28, 1993,
that certain Second Amendment to Lease Agrecment t�2529 dated as October 21, 1993, that
certain Third Amendment to Lease Agrecment 42529 dated as of December 15, 1993, that
certain Fourth Amendment to Lease Agreement No. 2529 dated as of October 25, 2000, and that
certain Agreement and Estoppel of Ground Lessor for Lease No. 2529 dated as of January 7,
2002, by and among the City of Palm Springs, as lessor, and AP-Palm Springs Airport LLC, as
lessee;
3. That certain Indenture of Lease Agreement No. 2636 dated as of November 3, 1988, as
amended by that certain Amendment No. I to Indenture of Lease Agreement No. 2528 dated as
of January 2, 1991, that certain Second Amendment to Lease Agreement 42636 dated as October
31, 1993, that certain Third Amendment to Lease Agreement 92636 dated as of December 15,
1993, that certain Fourth Amendment to Lease Agreement No. 2636 dated as of October 25,
2000, by and among the City of Palm Springs, as lessor, and AP-Palm Springs Airport LLC, as
lessee; and
4. That certain Agreement and Estoppel of Grouuid Lessor for Lease No. 2636 dated as of
January 7, 2002,by and among the City of Palm Springs, as lessor, and AP-Palm Springs Airport
LLC, as lessee.
mrwv.0 swnMs e aesne a A-1
EXHIBIT B
LEGAL DESCRIPTION OF THE PROPERTY
(To be Inserted)
MCMILLAS WDMS\8728508 3 B-I
0008 2
ACKNOWLEDGEMENT
State of California
County of
On before me,
(here insert name and title of the officer)
personally appeared who 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 aclmowledged 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.
I certify tinder 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 (Sea))
MCMILLJ\5 W UMS\HPH50H.3
6Galr
ACKNOWLEDGEMENT
State of California
County of
On before me,
(here insert name and title of the officer)
personally appeared who 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 acknowledbed to me that he/she/they executed the same in his/her/their
authorized capacity(ics), 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.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing parabraph is true and correcr.
WITNESS my hand and official seal.
Signature (Seal)
MCMILLSWOMS\0185083
���1Lx 4f
ACKNOWLEDGEMENT
State of California
County of
On_ before me,
(here insert name and title of the officer)
personally appeared who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(,) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in Iris/her/their
authorized capacity(ies), and that by his/her/their signaure(s) on The instrument the person(s), or
the entity upon behalf of which the person(s) 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 (Seal)
MCMILLESWDMSN87285OR 3