HomeMy WebLinkAboutRecorded Doc 2019-034 • 0l� l61 -- o2A
RECORDING REQUESTED BY: DOC # 2019-0152112
RecordingRequested By 05/02/2019 12:55 PM Fees: $115.00
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First American Title HSD Recorded in Official Records
CITY OF CATHEDRAL CITY IN ITS CAPACITY Pof Riverside
Peeteerr Aldana
AS HOUSING SUCCESSOR AGENCY Assessor-County Clerk-Recorder
WHEN RECORDED MAIL TO:
"This document was electronically submitted
to*
o the County of Riverside for recording"
City of Cathedral City Receipted by:MARIA VICTORIA#411
Attn: City Clerk
68-700 Avenida Lalo Guerrero
Cathedral City,California 92234
;•?5-6 (Space above for Recorder's Use)
ASSIGNMENT AND ASSUMPTION AGREEMENT
BY AND BETWEEN
URBAN COMMUNITIES, LLC,
a CALIFORNIA LIMITED LIABILITY COMPANY
AND
A0685 CATHEDRAL CITY, L.P.,
a CALIFORNIA LIMITED PARTNERSHIP
TRA:
DT:
RECORDING REQUESTED BY:
Recording Requested By
First American Title HSD
CITY OF CATHEDRAL CITY IN ITS CAPACITY
AS HOUSING SUCCESSOR AGENCY
WHEN RECORDED MAIL TO:
City of Cathedral City
Attn: City Clerk
68-700 Avenida Lalo Guerrero
Cathedral City, California 92234
S"/37",r6 (Space above for Recorder's Use)
ASSIGNMENT AND ASSUMPTION AGREEMENT
BY AND BETWEEN
URBAN COMMUNITIES, LLC,
a CALIFORNIA LIMITED LIABILITY COMPANY
AND
A0685 CATHEDRAL CITY, L.P.,
a CALIFORNIA LIMITED PARTNERSHIP
TRA:
DT:
ASSIGNMENT AND ASSUMPTION AGREEMENT
This ASSIGNMENT AND ASSUMPTION AGREEMENT (this "Agreement") is
entered into effective as of Apt►c 2' , 2019 ("Effective Date"), by and between Urban
Housing Communities, LLC, a California limited liability company ("Assignor") and A0685
Cathedral City, L.P., a California limited partnership ("Assignee").
RECITALS
A. Assignor, Ikaika Ohana, a Hawaii nonprofit corporation, and the City of
Cathedral City, a municipal corporation, acting in its capacity as the Housing Successor Agency
to the former Redevelopment Agency of the City of Cathedral City (in such capacity, referred to
herein as the "Agency") entered into that certain Disposition, Development and Grant
Agreement dated as of December 4, 2018 (the "DDA") addressing the disposition and
development of the real property consisting of ten (10) vacant parcels located on Landau Avenue
between Vega Road and Elizabeth Road, in the City of Cathedral City, California, known as
Riverside County Assessor's Parcel Nos. 678-060-001, -002, -003, -004, -005, -0049, -050, -051,
-052, and -053 (the "Property").
B. Assignor desires to assign all of its right, title and interest in and to, and
obligations under, the DDA to the Assignee, and the Assignee desires to assume all of
Assignor's right, title and interest in and to, and obligations under, the DDA, subject to the
Agency's consent.
NOW THEREFORE, for good and valuable consideration the receipt and sufficiency of
which are hereby acknowledged, Assignor and Assignee agree as follows:
1. Assignment by Assignor. Assignor hereby assigns to Assignee all of Assignor's
right, title, and interest in and to, and obligations under, the DDA.
2. Acceptance of Assignment and Assumption by Assignee. Assignee hereby
accepts the above assignment of Assignor's right, title and interest in and to, and assumes all of
Assignor's obligations under, the DDA, and agrees to perform all of Assignor's obligations and
covenants under the DDA as if Assignee were the original signatory thereto.
3. Representations. Assignor and Assignee each represents and warrants that each
is duly formed, validly existing, and in good standing under the laws of the State of
California, and has the power and authority to execute this Agreement and perform its
respective obligations hereunder.
4. Binding on Successors. The terms of this Agreement shall be binding upon and
shall inure to the benefit of the parties hereto and their respective successors and assigns.
OAK#4816-0284-9672 v2
5. Counterparts. This Agreement may be executed in counterparts, each of which
shall constitute an original, and all of which taken together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, Assignor and Assignee have entered into this Assignment and
Assumption Agreement effective as of the date first written above.
ASSIGNOR:
Urban Housing Communities, LLC, a California limited liability company
By:
Print ame:
;SDI n/ LS'lC LLY
Title: e--ao
ASSIGNEE:
A0685 Cathedral City, L.P., a California limited partnership
By: A0685 Cathedral City Holdings LLC, a California limited liability company
Its: General Partner
By: Urban Housing Communities, LLC, a California limited liability company
Its: Sole Member
By: ,114 / r
Print /me: 3771-1A/ 1114/.4.-:/
Title: /2W4- 17
AGENCY'S ACKNOWLEDGEMENT AND CONSENT
The City of Cathedral City, a municipal corporation, acting in its capacity as the Housing
Successor Agency to the former Redevelopment Agency of the City of Cathedral City hereby
consents to the above-described assignment and assumption of Assignor's rights and obligations
under the DDA to the Assignee.
AGENCY:
City of Cathedral City, a municipal corporation, acting in its capacity as the Housing Successor Agency
to the former '-i •velopment Agency of the City of Cathedral City
By: �' �L.
Charles P. McClendon, City Manager
Approved as to form:
2
OAK#4816-0284-9672 v2
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} ss.
On March 4, 2019 before me, Arturo Rosiles, Notary Public, personally appeared
John F. Bigley, who proved to me on the basis of satisfactory evidence to be the person
whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his authorized capacity, and that by his 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.
id .4-ta ARTURO ROSILES
_ % Notary Public-California
Signature a'
Z s Orange County
Commission:2188563
My Comm.Expires Apr 23,2021
(seal)
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.
ALL-PURPOSE ACKNOWLEDGEMENT NOTARY FOR CALIFORNIA
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE )
On "Y' 2-C1 , 2019, before me, Tracey R. Martinez, Notary Public,
personally appeared ( Y 4 V1tg p. ►-ACCle Mon
Name of Signer(s)
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 acknowledged to me that
he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their
TRACEY R.MAR7iNE� ' "( signature(s) on the instrument the person(s), or the
Notary Public•California
Riverside County £ entity upon behalf of which the person(s) acted,
M Commission x 2282778 - executed the instrument.
My Comm.Expires Apr 21,2023
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.
.L1 .
`ignature of Nota wublic