Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
Recorded doc 2015-129
2015-129 1 Q / NO FEE DOCUMENT 2015-0422082 RECORDING REQUESTED BY: 09/23/2015 08:19 AM Fee: $ 0.00 Page 1 of 47 Recorded in Official Records County of Riverside Peter Aldana WHEN RECORDED, MAIL TO Assessor-County Clerk-Recorder City of Cathedral City Attn: City Manager R A Exam: Page DA PCOR Misc Long RFD 1st Pg Adtl Pg Cert CC 68-700 Avenida Lab Guerrero Cathedral City, California 92234 SIZE NCOR SMF : C} 6CC PURCHASE AND PERFORMANCE AGREEMENT This Purchase and Performance Agreement(the"Agreement") is entered into effective this 2nd day of June, 2015 (the "Effective Date"), by and between the CITY OF CATHEDRAL CITY, a municipal corporation organized and existing under the laws of the State of California (the "City"), and VERANO RECOVERY, LLC, a California limited liability company (the "Developer"). Any reference hereafter to "Developer" shall also be deemed to include any successors to or assigns of Verano Recovery, LLC. The City and the Developer are sometimes individually referred to herein as a "Party" or jointly referred to herein as the "Parties." This Agreement bears, for record purposes only,the date of June 2, 2015 (the "Record Date"). RECITALS A. The Developer currently owns that certain real property in the City of Cathedral City, County of Riverside,State of California, more particularly described on Exhibit"A"-"Developer Property Description" attached hereto and incorporated by this reference and as further defined herein below (the "Developer Property"). The Developer Property is located in close proximity to the intersection of Landau and Vista Chino. B. The City owns the properties foreclosed upon and acquired by the City, some of which are located in Tract 28639-1, and the balance of which are located outside of Tract 28639-1 but inside the Specific Plan 97-55 adopted Ordinance No. 471 ("Specific Plan" and as further defined below), all of which is located in the City of Cathedral City, County of Riverside, State of California (the "City Property"). The City acquired properties are legally described in Exhibit "H"—"City Acquired Properties" attached hereto and incorporated by this reference. C. The City desires to sell to the Developer, and the Developer desires to purchase from the City,the City Property to develop residential single family homes(the "Project"), with the necessary infrastructure and amenities, in accordance with the Project approvals and amended .1 C ® ry w'Ifin UtilVe c vied plans. The City would not sell the City Property without all of the obligations of Developer under this Agreement. Together,the Developer Property and the City Property shall be combined for the development of the Project and be known as the Project Property(the"Project Property"). D. The Project Property will be developed with necessary infrastructure and amenities such that the lots may be legally developed by Developer, or by merchant builders who purchase lots from Developer,for the Project. E. On January 14, 1998, the City adopted Ordinance No. 471 approving Specific Plan 97-55, dated December 5, 1997, establishing land use and development standards for approximately 303 acres in the Rio Vista Village, Environmental Assessment 97-558, a Negative Declaration and a Notice of Determination filed on January 22, 1998, Tentative Tract Map 28639 ("TTM 28639"), and related conditions of approval affecting the Project Property. On that same date,the City adopted Resolution 98-3 which approved General Plan Amendment 97-67,and the City approved Resolution 98-4, approving TTM 28639. Ordinance 471 was subsequently amended by action of the City by Ordinance No. 556, in November of 2001 (collectively, the "Prior Approvals"). F. In conjunction with the Prior Approvals, the City Council approved the Negative Declaration and a Notice of Determination filed on January 22, 1998, and adopted applicable legally required findings. The Mayor and City Council certified that the Negative Declaration was legally adequate, and that it satisfied the requirements of the California Environmental Quality Act ("CEQA;" California Public Resources Code Section 21000 et seq.),the CEQA Guidelines (California Code of Regulations Section 15000 et seq.),and applicable ordinances and regulations of the City. G. On June 20, 2002, articles of incorporation for the Rio Vista Village Community Association ("Homeowners Association" or "HOA") were filed with the Secretary of State of California. H. On August 29, 2002, a Declaration of Covenants, Conditions, Restrictions and Reservation of Easements for Rio Vista Village Community Association was recorded as Document No. 2002-482548 in the Official Records of the County of Riverside, California ("Master Declaration"). I. The Specific Plan, the tentative map for TTM 28639, and the boundary map for Community Facilities District (CFD) 2000-1 include 303 acres as generally depicted Exhibit "B"- "Project Property", attached hereto and incorporated by this reference. Tract 28639-1 was the first increment of TTM 28639 to be recorded. Subsequent maps were intended to subdivide the remainder parcel as well as several of the larger lots in TTM 28639. J. Although certain streets and other improvements were completed in Rio Vista Village, many improvements contemplated by the Specific Plan and the TTM 28639 have not been 2 completed (and not by way of limitation, include the Club House, streets, alleys, curbs, gutters, sidewalks, streetlights, backbone infrastructure, water and drainage improvements, and "dry utilities"); repairs on certain streets are necessary; the fence along the perimeter of the Specific Plan is in a state of disrepair; and blown sand has accumulated on the Project Property located in the Specific Plan. K. In 2014 and 2015,the Developer held several meetings with the City Manager and members of City Staff,as well as outside consultants representing both the City and the Developer, and outlined a proposal wherein Developer, or its successors or assigns, would complete the development of the Project,which is a portion of the Project Property covered by the Specific Plan, in a manner substantially consistent with the terms of the Specific Plan and related entitlements. L. The Specific Plan and any other discretionary land use approvals relating to the Project (including the Prior Approvals, to the extent not expired and not inconsistent) are incorporated herein by this reference, and collectively comprise the "Project Approvals." Any and all Maps and other future discretionary land use approvals relating to the Project shall become part of the Project Approvals upon receiving approval from the City. M. In conjunction with this Agreement,the Developer may(in the Developer's sole and absolute discretion)negotiate one or more agreements with the Homeowners Association (collectively the "HOA Agreement"),that provide for joint cooperation on the development and maintenance of certain landscape parkways and detention basins, parks,streets and alleyways, and adjoining landscaped areas,joint cooperation on the Letter of Map Revision (commonly referred to as a "LOMR")for the entire Project issued by the Federal Emergency Management Agency(commonly known as"FEMA"),architectural review and annexation of future phases,and processing of matters under the jurisdiction of the California Bureau of Real Estate,and, upon the occurrence of specified events,the Developer's conveyance to the Homeowners Association of certain real property(e.g.,commonly known as the circle park,alleys,retention basins,and the Club House). However, nothing in this Agreement obligates the Developer to enter into an HOA Agreement with the Homeowners Association. The Developer shall cause the construction of the improvements contemplated to be covered by the HOA Agreement, as generally described in Recital M hereto,with or without successfully obtaining the HOA Agreement with the Homeowners Association prior to the first anniversary of the Effective Date. NOW, THEREFORE, in consideration of the foregoing recitals and the covenants and mutual obligations contained in this Agreement, and in reliance on the representations and warranties set forth herein,the City and the Developer agree as follows: 1. RECITALS The recitals are true and correct and are hereby incorporated herein. 2. DEFINITIONS 3 The following terms and their derivatives have the meanings set forth below wherever used in this Agreement, attached exhibits,or documents incorporated into this Agreement by reference: 2.1. Approved Plans. The term "Approved Plans" means the grading, building, plumbing, electrical, and other improvement plans already approved or to be approved by the City for the residences and other improvements to be constructed on the Project Property,as the same may be amended from time to time with the City's approval. 2.1.1. Prior Approvals. The term "Prior Approvals" means Specific Plan 97-55, General Plan Amendment 97-67, a Negative Declaration and a Notice of Determination filed on January 22, 1998,Tentative Tract Map 28639, and related conditions of approval affecting the Project Property that were adopted by City Ordinance No.471 on January 14, 1998. 2.1.2. Proiect Approvals. The term "Project Approvals" means the approvals identified in Recitals E and F, inclusive, of this Agreement,and any Maps and other discretionary land use approvals relating to the Project to the extent not expired and not inconsistent, and any and all maps and other discretionary land use approvals relating to the Project already approved or approved in the future by the City. 2.2. CFD 2000-1. The term "CFD 2000-1" means Community Facilities District No. 2000-1 of the City. CFD 2000-1 and the Specific Plan are coextensive, having the same boundaries. 2.3. City. The term "City" means the City of Cathedral City, a municipal corporation organized and existing under the laws of the State of California. Any reference hereafter to "City" shall also be deemed to include any departments,successors or assigns of the City of Cathedral City. 2.4. City Laws. The term "City Laws" means all City resolutions,codes, rules, regulations,and official policies, including but not limited to the City's General Plan, ordinances, resolutions,codes, rules, regulations, and official policies governing all aspects of this Agreement, including those governing land use, density,development standards, construction, and the like. 2.5. City Property. The term "City Property" means that certain real property, together with any improvements thereon, located in the City described and/or depicted on Exhibit "H"—"City Acquired Properties"attached hereto. 2.6. Club House. The term "Club House" means the club house buildings and related 4 improvements as shown as Phase 1 and 2 on Exhibit "C"—"Club House Phasing", attached hereto and incorporated by this reference,on the Club House Parcel. 2.7. Club House Parcel. The term "Club House Parcel" means Lot 294 of Tract No. 28639-1. 2.8. CVWD. The term "CVWD" means the Coachella Valley Water District. Any reference hereafter to "CVWD" shall also be deemed to include any successors or assigns of the Coachella Valley Water District. 2.9. CVWD Development Agreement. The term "CVWD Development Agreement" means the Domestic Water and Sanitation System Installation Special Agreement, dated November 12, 2002, and recorded as Document No. 2003-014704 of the Riverside County Records, between Rio Vista Land, LP, and the Coachella Valley Water District, as the same may be amended from time to time. 2.10. Days. The term "days"shall mean calendar days. Unless otherwise indicated,all time frames for performance of an act required or permitted by this Agreement shall be calendar days. Time frames measured in months shall be calculated with reference to the actual number of days in the relevant months. Annual time frames shall mean a period of 365 days. 2.11. Dedicated Streets. The term "Dedicated Streets"shall mean those streets and alleys dedicated to the City, located within TTM 28639,whether or not completed. 2.12. Design Guidelines. The term "Design Guidelines"shall mean the Rio Vista Village Community Character Guidelines approved on April 18, 2001. 2.13. Development Impact Fees. The term "Development Impact Fees" means any fees or other monetary exactions which are established or contemplated under City ordinances or resolutions which are intended to defray the costs of public facilities or other amenities related to the Project. The Development Impact Fees do not include fees charged by the City for processing applications for City actions or approvals. 2.14. Developer. The term "Developer" means Verano Recovery, LLC, a California limited liability company. Any reference hereafter to "Developer"shall also be deemed to include property owned by Los Portales Recovery, LLC,Sol Recovery, LLC, Cassia at Rio Vista Recovery, LLC, Portales Recovery, LLC, as well as their successors and assigns and any successors to or assigns of Verano Recovery, LLC. 2.15. Developer Property. The term "Developer Property" means that certain real property,together with any improvements thereon, located in the City described and/or 5 depicted on Exhibit "A"- "Developer Property Description" attached hereto. 2.16. Effective Date. The term "Effective Date" of this Agreement is the date as first written above. 2.17. HOA Agreement. The term "HOA Agreement," as herein referenced in Recital M of this Agreement, means the one or more homeowners association agreement(s)the Developer (in the Developer's sole and absolute discretion) may negotiate and enter into with the current Homeowners Association, Rio Vista Village Community Association,concerning the development of the Project. 2.18. Homeowners Association. The term "Homeowners Association"or"HOA" means the Rio Vista Village Community Association, a California nonprofit corporation formed pursuant to the Nonprofit Mutual Benefit Corporation Law. Any reference hereafter to "Homeowners Association" shall also be deemed to include any successors or assigns of the Rio Vista Village Community Association. 2.19. Map; Map Act. The terms "map"or"maps," "tentative map"or"tentative maps,"whether capitalized or lower case,shall, unless specifically designated to the contrary, mean and refer to tentative subdivision maps,final subdivision maps, and tentative parcel maps and final parcel maps, all as defined in, and regulated by, California Government Code Sections 66410 et seq. (collectively,the "Subdivision Map Act" or the "Map Act"). 2.20. Master Declaration. The term "Master Declaration" means the Declaration of Covenants, Conditions, Restrictions and Reservation of Easements for Rio Vista Village recorded on August 29, 2002, as Document No. 2002-482548, in the Official Records of the County of Riverside, California,as the same may be amended from time to time in accordance with the provisions of such declaration and applicable law. 2.21. Phase. The term "Phase" or "Phases"shall refer to the phase or phases of development proposed by the Developer and set forth in Exhibit "F"—"Proposed Construction Phasing", attached hereto and incorporated by this reference; provided, however,that the Club House Phasing described in Exhibit"C"—"Club House Phasing"shall be referred to as "Clubhouse Phasing." 2.22. Project. The term "Project" means the residential community to be constructed on the 303 acres generally depicted on Exhibit"B"-"Project Property"attached hereto,which includes the Project Property. 2.23. Project Property. The term "Project Property" means that certain real property, together with any improvements thereon, located in the City described and/or depicted on Exhibit"B"- "Project Property" attached hereto. 6 2.24. PSRV Properties. The term "PSRV Properties" means the properties foreclosed upon by the City, and acquired by the City, located in TTM 28639 and Tract 28639-1,and inside the Specific Plan,which are to be transferred to the Developer. The PSRV Properties are also referred to as the "City Property" and are legally described in Exhibit"H"—"City Acquired Properties" attached hereto. 2.25. Public Streets. The term "Public Streets" shall mean the streets and alleys dedicated to the City by TTM 28639 or Tract 28639-1,or to be dedicated to the City,which are or will be, once constructed, located in the Tracts,together with the streets and alleys to be constructed in the balance of the Project. 2.26. RVVA Properties. The term "RVVA Properties" are Lots QQ, 279, 280, 282, 283, 284 and 285, owned by the entity Rio Vista Village Associates, LLC("RVVA"), as located in Tract 28639-1. 2.27. Specific Plan. The term "Specific Plan" means Specific Plan 97-55 which was approved by Ordinance No. 471 adopted by the City on January 14, 1998,as the same may be amended from time to time. The Specific Plan and CFD 2000-1 are coextensive, having the same boundaries. 2.28. Tract;Tracts;Tract No. 28639-1;Tract 32559;Tract Property. The terms shall mean Tract No. 28639-1,comprised of 193.6 subdivided acres excluding the remainder parcel, in the City of Cathedral City, California,as recorded in Book 300, Pages 53 through 66, inclusive, or Tract 28559, comprised of 12.367 acres, in the City of Cathedral City, California, as recorded in Book 390, Pages 37 through 41,inclusive,of Maps, in the Office of the County Recorder of Riverside County, California. 2.29. Vested Provisions. The term "Vested Provisions"means the provisions of the Specific Plan,the terms and provisions in the other Project Approvals, and the City Laws,all as in effect as of the Effective Date. 3. DEVELOPER'S OBLIGATIONS 3.1. Phase 1:Actions To Be Taken By End Of First Year. Prior to the first anniversary of the Effective Date,the Developer shall cause all of the following actions to be taken: 3.1.1. Monuments. The final monuments in the Specific Plan area, as shown on the recorded maps of Tract No. 28639-1,Tract No. 32559 and Parcel Map 34148,have not been completely set,or are in some cases missing. The Developer will complete the setting of the monuments and the replacement of any missing monuments, so that all monuments are complete. The Parties recognize that this is a priority so that future builders and owners can reliably locate the lots. 7 3.1.2. Public Streets Improvements. Prior to the City's acceptance of the public streets,the Developer shall cause the public streets on Lots A through Z,inclusive,and Lots Al through AS, inclusive, of Tract No. 28639-1 (as generally described in Exhibit"D" —"Streets to be Dedicated to the City" and Exhibit"E"-"Depiction Of Streets To Be Dedicated To City With Maintenance Obligations",attached hereto and incorporated by this reference), to be constructed and/or slurry sealed to City standards, cause all damage to the constructed public street curbs in excess of normal wear-and-tear damage to be repaired,cause all cracks in the constructed public street sidewalks that present safety concerns to be repaired, cause all damage to the constructed public street cross-gutters in excess of normal wear-and-tear damage to be repaired, cause all disabled persons ramps on the constructed public streets to be modified to comply with current City standards, and cause all erected regulatory and directional signage for the public streets to be upgraded to meet the City's current standards for heights and locations of such signage. 3.1.2.a. Upon completion of the improvements as identified herein and the City's acceptance of said improvements,the Developer shall deed to the City in fee simple title the public streets and alleys in the Project. The City shall then convey the maintenance responsibilities including, but not limited to,the alleys, raised landscape medians, sidewalks, pedestrian ramps, parkways,street lights, and in-pavement trees and tree wells,to the Developer or City-approved designee by appropriate document. If said designee is the Homeowners Association,then conveyance of maintenance responsibilities will be through an amendment to the Master Declaration or other appropriate document. 3.1.2.b. The above-noted maintenance responsibilities are notwithstanding City Municipal Code Section 14.12.010, Duty to Maintain, regarding adjacent property owners' responsibility for repairing and maintaining public improvements. 3.1.3. Alley Improvements. All constructed and completed alleys on Lots AA through EE, inclusive, Lots LL through PP, inclusive, Lot GG, and a portion of Lot FF in the Project shall be deeded and maintained as noted in 3.1.2 above. 3.1.4. Construction Improvements for the Completed Construction Area. The Developer shall cause the following missing improvements within the completed construction area as depicted on Exhibit "F"—"Proposed Construction Phasing", attached hereto,to be completed within the first anniversary year (Phase A) in accordance with the Approved Plans and City standards: (a) Missing sidewalks; 8 (b) Final pavement cap and fog seal; (c) Missing curbs and gutters; (d) Missing backbone street infrastructure for Rio Vista Drive, Rio Rosalia Drive, Rio Oso Road, Rio Felicia, Rio Madre Drive, Rio Largo Drive, and Avenida Quintana Drive; (e) Water and sewer improvements; (f) Drainage improvements; (g) Signage and striping(including adjustment to current existing signs to meet current codes and standards); (h) Missing Street lights within the Completed Construction Area, as defined in Exhibit"F"-"Proposed Construction Phasing" attached hereto;and (i) Parkway landscaping and irrigation. 3.1.5. Sand Removal. The Developer shall cause the blown sand that has accumulated in the public spaces within the Project Area boundaries as of the Effective Date to be removed and properly disposed of in accordance with all applicable laws.The Developer shall remove and properly dispose of the blown sand that is within the public spaces of the Project Property for the term of this Agreement. In addition, in order to deter the formation of sand dunes,the Developer shall cause all existing chain link green fabrics and wooden snow fences in the Project Area to be removed and replaced with a sand deterrent acceptable to the City. 3.1.6. Perimeter Fence. In order to deter trespassing and the illegal dumping of trash and other debris on the Project Property,the Developer shall cause the chain link fence around the perimeter of the Project Property to be repaired and maintained to the satisfaction of the City for the term of this Agreement. 3.1.7. Club House Improvements. The Developer shall cause the repair and renovation to the Club House, including,without limitation, repair and renovation to the exterior walls of all three buildings;the hardscape and walkway improvements;the landscaping and irrigation improvements;and Pool No. 1. The Developer shall remodel and restore and/or complete in accordance with the Approved Plans to a condition acceptable to the City,the interiors of the restroom shower facilities and the middle office building in "Phase 1 Remodeling" as depicted on Exhibit "C"—"Club House Phasing" attached hereto. Such remodeling and restoration activities shall include, 9 without limitation, electrical work to the Club House buildings and facilities and re- painting the exterior of the Club House buildings. The North and South interiors of Community Rooms shall be completed subsequently as home building warrants and may extend into Phase B of the Project. Upon completion of the Club House Improvements to the satisfaction of the City,the City will issue the Developer a Certificate of Occupancy, limited to the remodeled and rehabilitated areas,for the Club House. 3.2. Phase 2: Actions To Be Taken By End Of Fifth Year. Prior to the fifth (5th) anniversary of the Effective Date,the Developer shall cause the following actions to be taken: 3.2.1. Remaining Club House Improvements. The Developer shall cause the remainder of the Club House improvements not completed in Phase 1- Remodeling, including, but not limited,the North and South interiors of Community Rooms and other such remaining improvements in "Phase 2 Remainder" as depicted in Exhibit "C"- "Clubhouse Phasing" attached hereto, to be completed in accordance with the Approved Plans to a condition reasonably acceptable to the City prior to the fifth (5th) anniversary of the Effective Date. The City shall grant no Certificate of Occupancy or Certificate of Completion to Developer until the Club House improvements are complete to a condition reasonably acceptable to the City except as referenced in Section 3.1.7. for the work completed within Phase 1 Remodeling. 3.2.2. Backbone Street Infrastructure. The Developer shall cause the sidewalks, pavement and fog seal, curbs and gutters, water and sewer improvements, drainage improvements, signage and striping, street lights, parkway landscaping and irrigation systems, and other backbone street infrastructure for the PSRV parcels to be completed and maintained in accordance with the public streets and alleys, as depicted on Exhibit "F"- "Proposed Construction Phasing" attached hereto. Notwithstanding the foregoing, in the event the Developer is unable to complete the backbone street infrastructure improvements for Phase 3, as depicted on Exhibit "F"- "Proposed Construction Phasing" attached hereto, by the fifth (5th) anniversary of the Effective Date,the date by which such improvements shall be completed and the term of this Agreement shall be extended for three (3) additional years,as described below,without any modification of the other terms and provisions of this Agreement. During the three (3)year extension,the Development Impact Fees will be those normally charged by the City as of the commencement of the three (3)year extension. 3.2.3. CVWD Improvements. The Developer shall cause all CVWD water improvements for the Project Property to be completed in accordance with the timeline and milestones set forth in the CVWD Development Agreement, and through the sales of second tranche of bonds or a new bond issuance if possible. It is expressly agreed herein that no Certificate of Occupancy or Certificate of Completion will be issued for any 10 residence or unit for which CVWD will not issue a "will serve" letter. 3.3. Taxes and Assessments. Ad valorem taxes and assessments, if any, on the Project Property and taxes upon this Agreement or any rights hereunder levied, assessed or imposed, whether delinquent or prospective, as to any following the Close of Escrow, shall be borne by Developer. 3.4. Developer's General Obligations. The Parties agree that the intent of this Agreement is to allow and require the Developer to improve the Project to a condition such that subdivided property within the Project can be transferred to merchant builders, all to the end goal of permitting the completion of the development originally contemplated by the Prior Approvals. The Developer believes that the tasks assumed by it, when taken with the City's Obligations as described in Section 4. below, will be sufficient to accomplish the general obligations identified herein. The Developer agrees that to the extent that issues arise which were not contemplated by this Agreement but which are required to enable the Developer to meet its general obligation, it will be solely responsible for resolving said issues at its sole cost and expense. Other than as to such actions as are heretofore described, this Agreement does not obligate the Developer, or its successor(s) or assign(s) to take any further obligations with respect to the Project or the Project Property, other than those which are necessary to complete the Developer's express obligations and meet its general obligations. 4. CITY'S OBLIGATIONS 4.1. Obligations of City Generally. The Parties acknowledge and agree that Developer's agreement to perform and abide by its covenants and obligations in this Agreement is a material consideration for City's agreement to perform and abide by the covenants and obligations of City and for City's agreement to sell Developer the City Property,as set forth herein. 4.2. Protection of Vested Rights. To the maximum extent permitted by law, City shall take any and all actions as may be necessary or appropriate to ensure that the rights provided by this Agreement are vested, applicable to the Project, and may be exercised by the Developer and/or its successors in interest and binding on the City. Any city laws on other actions will not apply to the Project to the extent provided herein. The City agrees to make best efforts to preserve the provisions and intent of the Project Approvals and this Agreement, including: (i) to • preserve current entitlement per the approved Specific Plan; (ii) to guarantee density to a maximum of 1,362 units; (ii) to not be subject to any moratorium declared under the City's discretion; and (iii) to not be subject to CFD 2006-1 (Improvement Districts for Police, Fire, Paramedics and Parks). 4.3. Development Impact Fees. During the five (5) year period commencing on the Effective Date and ending on the fifth (5th) anniversary of the Effective Date,the City shall freeze the rate of the Development Impact Fee schedule, commencing on the Effective Date, and shall 11 not increase the rate of any of the Development Impact Fees controlled by the City, described on Exhibit "G"- "Schedule of Development Impact Fees", attached hereto and incorporated by this reference, nor require the payment of any Development Impact Fees controlled by the City other than those shown on Exhibit "G"- "Schedule of Development Impact Fees" hereto in connection with the development and construction of improvements in the Project. The freeze of the rate of the Development Impact Fees shall not apply to any extension of time under this Agreement; and the Development Impact Fees shall return to the regular rate controlled by the City upon the fifth (5th) anniversary of the Effective Date. Nothing contained in this Agreement shall be deemed in any way to restrict the inherent powers of the City or to prevent an increase in development fees applicable to projects other than the Project. The applicable pro rata share of any Development Impact Fees shall be paid by the Developer, or if applicable, by the merchant builder,to the City at the time of the issuance of a building permit for the construction of a structure within the Project. In computing the amount of any Development Impact Fees due under the Quimby Act or any other law requiring the payment of Development Impact Fees for parkland or recreational facilities, the City shall credit the Developer for the parks and recreational improvements in the Project in accordance with Section 9.106.120 of the Cathedral City Municipal Code. 4.4. Financing Plan; Acquisition of PSRV Properties. The City shall generally cooperate with and support the Developer's efforts to refinance the CFD 2000-1 described on Exhibit "I"- "Public Facilities Financing Mechanism", attached hereto and incorporated by this reference, to the extent that such Financing Plan is not in violation of any law or regulation of any governmental entity having jurisdiction with respect thereto and is not in conflict with any fiduciary obligation of the City, to obtain additional bond issuance under the CFD 2000-1 or to support the creation of a new CFD to handle additional infrastructure improvements needed for the balance of the build-out of the Project. Without any limitation of the foregoing,the City shall also generally cooperate with and support the Developer's efforts to implement those portions of the Financing Plan requiring: (a)the CFD 2000-1 to sell and convey the PSRV Properties;and(b)the CFD 2000-1 to waive any and all penalties, administrative and collection fees, and interest that may be owed to CFD 2000-1 as a result of the non-payment of any assessments for the PSRV Properties and the properties described on Exhibit"J"-"Cassia,Sol &Verano Delinquent CFD 2000- 1",attached hereto and incorporated by this reference. In addition,if requested by the Developer by written application and if the request is valid under any and all applicable laws or regulations and if the City reasonably determines that doing so will not cause serious negative impacts to the City's credit rating, the City, upon receipt of payment from Developer for costs, shall initiate proceedings for the establishment of one or more new public facilities districts, community facilities districts, landscape maintenance districts or other similar financing mechanisms in accordance with the Financial Plan set forth in Exhibit "I"- "Public Facilities Financing Mechanism" attached hereto. The City's obligations in this regard shall be subject to and consistent with the City's ordinances and policies, regarding use of public financing, as well as any applicable provisions of state or federal law. 12 The Parties acknowledge that the issuance of bonds in connection with the financing plan is contingent upon market conditions over which neither Party has any control. The City agrees to use reasonable efforts to accomplish the financing plan, but the Developer recognizes that the City will not authorize any plan that in the opinion of the City Council is ill-considered, unfair, excessively expensive or otherwise a violation of the City's obligations to its current and future residents, and that the City cannot waive or contract away those obligations. 4.5. Maintenance of Properties. The City will use its best efforts to have the RWA Properties maintained per City Municipal Code as described in Section 2.26 included herein. 4.6. Flood Hazard Map Revisions. The City shall generally cooperate with and support the Developer's efforts in filing a Letter of Map Revision ("LOMR") to obtain modifications to the flood hazard maps maintained by the Federal Emergency Management Agency (FEMA) that are applicable to the Project Property. 4.7. CVWD Development Agreement. The City shall, to the extent not in violation of any existing City obligation, generally cooperate with and support the Developer's efforts to: (i) obtain modifications to the CVWD Development Agreement; (ii) use CFD Bond proceeds to support the offsite infrastructure; i.e. Reservoir, pipelines, access road easements, etc.; (iii) negotiate the Domestic Water and Sanitation System Installation Special Agreement, dated November 12, 2002, if necessary, between CVWD and Rio Vista Land Company,and the revision of the Domestic Water and Sanitation System Installation Special Agreement, dated October 27, 2003,from Steve Robbins of CVWD to Lynn Burnett with a revised "Appendix A". 4.8. Road Easement to Offsite Reservoir Site. The City shall make its best effort to assist the Developer in the perfection of the existing Road Easements over the real properties as described in the Easement Documents, Instrument Nos. 20498, 20499, 20500 and 20501 recorded February 3, 1982 (copies of which are included in Exhibit"L"—"Road Easement to Offsite Reservoir Site" attached hereto and incorporated by this reference) and to cooperate with the Developer with the construction of said road to a standard that minimally satisfies CVWD requirements. Responsibilities for construction and maintenance of said roadway have yet to be determined and the City and the Developer acknowledge same. The Parties hereby agree that the City shall not be responsible for maintenance of said roadway until the public roadway is fully improved, curb to curb. 4.9. Acceptance of Subsequent Subdivisions. Notwithstanding any language in this Agreement to the contrary, all future subdivisions within the Specific Plan will require the submission of tentative maps,will go through the normal subdivision process in order to subdivide property within the Specific Plan, and nothing herein shall preclude or inhibit the City's requirement of subdivision improvement agreements with each map, and the ability to require standard improvement securities to guarantee completion of improvements within specified time periods. However,future subdivision projects shall receive expedited processing if requested and 13 available. Property Owner shall be responsible for any cost associated with expedited processing. 4.10. Indemnity Agreement. The City agrees to indemnify First American Title Insurance in accordance to the terms and provisions set forth in Exhibit "K"- "Indemnity Agreement", attached hereto and incorporated by this reference. 4.11. CFD 2000-1 Taxes, Penalties, Fees, Assessments and Interest. The City will insure that all CFD related Taxes, Penalties, Fees, Assessments and Interest will be current for all parcels listed on Exhibit "H"- "City Acquired Properties" and Exhibit "J" "Cassia, Sol & Verano Delinquent CFD 2000-1", attached hereto, as of the close of escrow upon the payment made pursuant to Section 7. The City and their CFD consultant will work together to ensure that the Assigned CFD Taxes for the tax year 2015/2016 will be calculated according to the formula required within the bond offering documents based upon the reserve account considered fully funded and their being no delinquencies for undeveloped properties within the CFD. 5. PROJECT DEVELOPMENT REQUIREMENTS 5.1. Standard of Development. The Project shall be developed in accordance with the Project Approvals and this Agreement. Except as specifically provided herein, during the Term of this Agreement (see Sections 6.1. and 6.2.), the permitted uses within the Project, the density and intensity of use, maximum height and size of buildings, other zoning standards, the requirements for reservation or dedication of land for public purposes, the mitigation requirements and all other terms and conditions of development of the Project shall be those set forth in the Project Approvals. 5.2. New City Laws. City Laws which are enacted, adopted, or imposed by initiative or referendum after the Effective Date may be applicable to the Project and the Project Property, but only to the extent that: (a) such new City Laws are not inconsistent with and do not conflict with the Applicable City Laws and the Project Approvals; (b) do not diminish any of the Developer's rights under this Agreement or increase any of the Developer's obligations under this Agreement; and (c) are not inconsistent with and do not conflict with any of the terms of conditions of this Agreement. Developer reserves the right to challenge in court any City Laws that would conflict with the Applicable City Laws or any portion of this Agreement or adversely impact the development rights provided in this Agreement. 5.3. Tentative Maps, Permits and Other Approvals. In accordance with the provisions of Government Code Section 66452.6, all tentative maps, and all permits and other approvals, shall be extended,from time to time in accordance with state and local law, pursuant to application by the Developer,consistent with the term of this Agreement. The number of phased final maps that may be filed shall be determined by the City's Subdivision Map Act, is subject to appeal to the Mayor and City Council, at the time of approval or conditional approval of a tentative map. Such tentative and final maps shall comply with State and Federal laws. The Vested Provisions may be 14 modified only by the City as it determines to address a compelling public necessity regarding health and safety that cannot reasonably be addressed by other means, or as otherwise provided in this Agreement. The life of the Tentative Tract Map shall follow State allowances. A substantial conformance process would allow changes to comply with current design standards,water quality issues or similar changes, or modifications to the Project to transfer density may be made by staff determination,appealable to the Planning Commission at a public hearing. 5.4. Timing of Development. The Parties acknowledge that development of the Project will be affected by numerous factors outside the control of the Developer(e.g.,general economic conditions, interest rates and market demand, etc.). Developer agrees to use best efforts to develop the Project in such order and at such rate and times as stated herein. Nevertheless, the Parties hereby acknowledge and agree that the Developer may develop the Project in such order and at such rate and times as are appropriate within the Developer's business judgment,subject to compliance by the Developer with the Project Approvals and such other conditions and requirements imposed by the City and not in conflict with this Agreement. 6. TERM OF AGREEMENT 6.1. Initial Term. The initial term of this Agreement shall be five (5)years,commencing on the Effective Date of this Agreement, and shall be subject to the extensions set forth in Section 6.2. below. 6.2. Extensions of Initial Term. As set forth in Section 3.2.2. of this Agreement, in the event the Developer is unable to complete the backbone street infrastructure improvements, as depicted on Exhibit "F"- "Proposed Construction Phasing" attached hereto, by the fifth (5th) anniversary of the Effective Date, the date by which such improvements shall be completed and the term of this Agreement shall be extended for three (3) additional years, without any modification of the other terms and provisions of this Agreement (excluding the provisions relating to Development Impact Fees as set forth in Section 4.3.). The City and the Developer may,but are not obligated to, agree in writing to further extensions of the term of this Agreement that may be appropriate in connection with the development and construction of improvements on the Project Property and are permitted by law. 6.3. Reimbursement for Oversize Public Improvements. Public facility improvements that are currently considered are offsite-roads and water infrastructure. This includes oversizing of improvements to provide more capacity than the Project's needs require. Such improvements would be subject to reimbursement per Section 14.32 of the Cathedral City Municipal Code unless reimbursement is provided by another jurisdiction for that portion that is oversized. Only land outside the ownership of the Project Property shall pay the reimbursement as part of improvements subject to this provision. 6.4. Compliance with Laws. The Project will comply with all applicable laws,ordinances, 15 rules and regulations of federal,state and local governments and agencies having jurisdiction over either the Developer or the Project Property and with all applicable directions, rules and regulations of the fire marshal, health officer, building inspector and other officers of any such government or agency. All permits, consents, permissions and licenses required by any federal, state or local government or agency to which the Developer or the Project Property is subject, which may be necessary in relation to this Agreement or the acquisition, development, construction, or ownership of the Project, at, or prior to,the commencement of construction have been obtained, and none of such consents, permissions and licenses are subject to appeal or to conditions which have not been met. 6.5. Amendment of Agreement. 6.5.1. Formal Amendment. This Agreement, including the term hereof, may be amended from time to time by mutual consent of the Parties. Consent by the City shall mean an affirmative vote of the City Council. 6.5.2. Clarification. The foregoing notwithstanding, the Parties acknowledge that refinements and further development of the Project may demonstrate that changes are appropriate with respect to the details and performance of the Parties under this Agreement. If and when the Parties find that changes or adjustments are necessary or appropriate, which changes do not necessitate a formal amendment of the Agreement as determined by City in the exercise of its discretion, they shall, unless otherwise required herein or by law, effectuate the changes or adjustments as follows: 6.5.2.a. Community Development Director Authority. Subject to appeal permitted by the Municipal Code, the Community Development Director shall have the authority over the following requests for change or modification: (i) Approval of minor site plan revisions; (ii) Changes in Project infrastructures; (iii) Product types; (iv) Annual review and approval of the Mitigation Monitoring and Reporting Program; (v) Minor revisions to Design Guidelines; (vi) Density transfer between Planning Areas without 16 exceeding to top number of units allowed by the approved Specific Plan. 6.5.2.b. Planning Commission Authority. Subject to appeal permitted by the Municipal Code, the Planning Commission shall have the authority over following requests for change or modification: (I) Change in total number of proposed Units; (ii) Approval of major site plan revisions; (iii) Major revisions to Design Guidelines; and (iv) Minor revisions to land use when uses could be considered accessory to approved uses; and (v) Increase/decrease in number of lots. 6.5.2.c. City Council Authority. Subject to appeal permitted by the Municipal Code, the City Council shall have the authority over the following requests for change or modification: (i) Alteration of the permitted uses of the Project Property; (ii) Increase in the intensity of use or the number of lots; (iii) Deletion of a requirement for the reservation or dedication of land for public purposes except for minor boundary adjustments approved by the Community Development Director;and (iv) Extension of the Term 7. PURCHASE PRICE;TERMS OF PAYMENT 7.1. Purchase Price. The Initial Payment and the Second Payment, together, shall result in a total purchase price of Two Million One Hundred Seven Thousand Seven Hundred Sixty-One Dollars ($2,107,761)for the City Property. 7.2. Initial Payment. The Developer shall pay, on or before July 15, 2015, One Million Five Hundred Thousand Dollars ($1,500,000) in cash, which amount is sufficient to restore in full the CFD Reserve Account. 17 7.3. Second Payment. The Second Payment of Six Hundred Seven Thousand Seven Hundred Sixty-One Dollars ($607,761) in the form of a Promissory Note secured by a Deed of Trust against the four (4) PSRV parcels (677-050-031-9, 677-050-032-0, 677-050-033-1, and 677-050-034-2). The Second Payment shall bear no interest if paid as agreed and shall be due and payable by the Developer to the City on or before June 25, 2016. 8. ESCROW 8.1. Title Company. The City and the Developer agree to establish an escrow for the purchase and sale of the City Property at First American Title Insurance ("Title Company"); located at 72-690 Fred Waring Drive, Palm Desert, CA, 92260; Attention: Sharon Elkins; (the "Escrow Agent"). The escrow shall be opened with the Escrow Agent within ten (10) days from the Effective Date of this Agreement. 8.2. Escrow Agent Duties. The City and the Developer shall provide and execute such additional escrow instructions consistent with this Agreement as shall be necessary or required by the Escrow Agent. The Escrow Agent is hereby empowered to act under this Agreement, and, upon indicating its acceptance of this Section in writing, delivered to the City and the Developer, within five (5) calendar days after the establishment of the escrow, shall carry out its duties as the Escrow Agent hereunder. 8.3. Delivery of Documents. The City and the Developer shall deliver to the Escrow Agent all documents necessary for the conveyance of title to the City Property, to the extent provided in this Agreement, in conformity with,within the times, and in the manner provided in this Agreement. 8.3.1. Delivery by City. The City shall timely and properly execute, acknowledge and deliver to the Escrow Agent the Grant Deed conveying to the Developer title to the City Property in accordance with the requirements of this Agreement. 8.3.2. Delivery by Developer. The Developer shall timely provide to the City the Promissory Note and Deed of Trust, which shall be validly approved by resolution of Board of Directors. The Board of Directors shall also provide to the City a resolution approving this Agreement, including all transactions contemplated herein. 8.4. Escrow Fees. The City and the Developer shall each bear responsibility for certain costs and fees relating to the escrow determined in compliance with local practice escrow fees and costs,the City shall pay any applicable County and City Documentary Transfer Fees, if not otherwise exempt, and the Parties shall remit all such amounts due by them under the terms of this Agreement to the Escrow Holder not less than three (3) business days before the scheduled Close of Escrow(as defined below). 18 8.5. Preliminary Title Report. The Escrow Agent shall cause a Preliminary Title Report to be prepared and issued by First American Title and shall promptly provide the City and the Developer with copies thereof along with legible copies of all reported title exceptions.The City and the Developer must approve the Preliminary Title Report in writing as a condition precedent to Close of Escrow. Developer shall deliver the Purchase Price to the Escrow Agent in accordance with the Escrow Agent's usual requirements. 8.6. Escrow Funds. All funds received in escrow shall be deposited by the Escrow Agent in an insured account with any state or national bank doing business in the State of California, and such funds may be combined with other escrow funds of the Escrow Agent. Such funds shall draw the highest reasonable rate of interest and such interest shall accrue to the Party to this Agreement who shall have made the deposit thereof with the Escrow Agent. 8.7. Escrow Agent Communications. All communications from the Escrow Agent to the City and the Developer shall be directed to the respective Parties at the addresses set forth in Section 9.8. of this Agreement for notices, demands and communications between the City and the Developer. 8.8. Close of Escrow. Close of Escrow shall occur on or before July 15, 2015 (the "Escrow Closing Date"). If for any reason the Close of Escrow has not occurred on or before the Escrow Closing Date, then any Party not then in default of this Agreement may cancel the Escrow and terminate this Agreement without liability to the other Party or any other Person for such cancellation and termination, by delivering written notice of termination to both the other Party and the Escrow Agent. Without limiting the right of either Party to cancel the Escrow and terminate this Agreement, pursuant to the preceding sentence, if the Escrow does not close on or before the Escrow Closing Date, and neither Party has exercised its contractual right to cancel the Escrow and terminate this Agreement before such time, then the Escrow shall close as soon as reasonably possible following the first date on which the Escrow Holder is in a position to close the Escrow, pursuant to the terms and conditions of this Agreement. 9. GENERAL PROVISIONS 9.1. Conflicts of interest. The Developer and City each warrants and represents,to the best of its present knowledge, that no public official of the City who has been involved in the making of this Agreement, or who is a member of a City board or commission which has been involved in the making of this Agreement, has or will receive a direct or indirect financial interest in this Agreement or the Project in violation of the rules contained in California Government Code Section 1090, et seq., pertaining to conflicts of interest in public contracting. The Developer and the City shall each exercise due diligence to ensure that no such official will receive such an interest. The Developer and City each further warrants and represents, to the best of its present 19 knowledge and excepting any written disclosures as to these matters already made to the other Party,that (1) no public official of the City who has participated in decision-making concerning this Agreement or the Project or has used his or her official position to influence decisions regarding this Agreement or the Project, has an economic interest in the Developer or the Project, and (2) neither the Project nor this Agreement will have a direct or indirect financial effect on said official, the official's spouse or dependent children, or any of the official's economic interests. The Developer and City each agree to promptly disclose to the other Party in writing any information it may receive concerning any such potential conflict of interest. The Developer's attention is directed to the conflict of interest rules applicable to governmental decision-making contained in the Political Reform Act (California Government Code Section 87100, et seq.) and its implementing regulations(California Code of Regulations,Title 2,Section 18700,et seq.). 9.2. Nonliability. No member,official,employee,or agent of the City or the City shall be personally liable to the Developer, or any successor in interest, in the event of any default or breach by the City or for any amount which may become due to the Developer or successor under the terms of this Agreement. 9.3. Developer's Warranties and Representations. The Developer represents and warrants to the City that: (a)the Developer is duly organized, validly existing and in good standing under the laws of the State of California; (b) the Developer is the true and correct owner of the Developer Property described on Exhibit"A"-"Property Legal Description" attached hereto;(c)the Developer has full right, power and lawful authority to enter into and perform the obligations of the Developer under this Agreement; and (d) the execution, performance and delivery of this Agreement by the Developer has been fully authorized by all requisite actions on the part of the Developer. 9.4. City's Warranties and Representations. The City warrants and represents to the Developer that: (a)the City is a municipal corporation organized and existing under the laws of the State of California; (b)the City has full right, power and lawful authority to enter into and perform the obligations of the City under this Agreement, and (c)the execution, performance and delivery of this Agreement by City has been fully authorized by all requisite actions on the part of the City. 9.5. Amendments. Any amendment to this Agreement must be in writing, approved by a majority vote of the City Council, and must be executed by both the City and the Developer or the Developer's successor in interest. 9.6. Time. Time is of the essence in the performance of this Agreement. 9.7. Delay. Performance by either Party under this Agreement shall not be deemed to be in default where delays or default are due to war, acts of terrorism, insurrection, strikes, lockouts, riots, floods, earthquakes, fires, casualties, acts of God, acts of the public enemy, epidemics, quarantine restrictions, freight embargoes, lack of transportation, unusually severe 20 weather, acts or failure to act of any public or governmental agency or entity with respect to Project permitting (provided that acts or failure to act of the City shall not extend the time for the City to act hereunder), or any other causes beyond the control or without the fault of the Party claiming an extension of time to perform; provided, however, that a Party's lack of funds or financing shall not be deemed to be a cause beyond the control of such Party. An extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause,if notice by the Party claiming such extension is sent to the other Party within thirty days of the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the City and the Developer. 9.8. Notices, demands and communications. Notices, demands and communications under this Agreement shall be given in writing by any commercially accepted means to the principal offices of a party as follows,or if any such office is relocated,to the new address specified by the relocated Party: To City: City of Cathedral City Attn:City Manager City of Cathedral City 68-700 Avenida Lalo Guerrero Cathedral City, California 92234 With a copy to: Green de Bortnowsky, LLP Attn: Charles Green,City Attorney 23801 Calabasas Road,Suite 1015 Calabasas, California 91302 Facsimile: (818)704-4729 To Developer: Verano Recovery, LLC c/o Inland Communities Corp. Attn:Jim Ahmad, President 6430 W Sunset Boulevard,Suite 460 Los Angeles,CA 90028 Facsimile:(323)874-8800 With a copy to: Gallagher&Moore Attn: Frederick C. Moore,Esq. 2 Park Plaza,Suite 680 Irvine, CA 92614 Facsimile: (949)955-2875 If mailed,the written notice shall be deemed received and shall be effective three(3) 21 business days after deposit in the United States mail in the State of California or upon actual receipt by the addressee if earlier. 9.9. Covenants Run With The Land. All of the terms, provisions, covenants, and obligations contained in this Agreement shall be binding upon the Parties and their respective heirs, successors and assigns, and all other persons or entities acquiring all or any portion of the Project Property, or any interest therein,whether by operation of law or in any manner whatsoever, and the rights thereof shall inure to the benefit of such Parties and their respective heirs, successors and assigns. The Parties intend that the covenants contained in this Agreement shall constitute covenants running with the land and shall bind the Project Property and every person having an interest in the Project Property during the term of this Agreement. The Developer agrees for itself and for its successors that in the event that a court of competent jurisdiction determines that the covenants herein do not run with the land,such covenants shall be enforced as equitable servitudes against the Project Property. 9.10. No Damages Relief Against City. The Parties acknowledge that City would not have entered into this Agreement had City been exposed to damage claims from the Developer for any breach of this Agreement. As such,the Parties agree that in no event shall the Developer be entitled to recover damages against City for the breach of this Agreement. 9.11. Violations. 9.11.1. Violation by the Developer. The Developer shall be deemed in violation of the terms of this Agreement if a finding and determination is made by the City Manager, upon the basis of substantial evidence, however received,that the Developer has not complied with one or more of the material terms or conditions of this Agreement,or if, at the end of the Term, as extended, if applicable,the Developer has not met its general obligations as set forth in Section 3. hereof. A default on the part of an assignee after an assignment pursuant to Section 9.15., below, of this Agreement shall not constitute a violation of this Agreement by the Developer. 9.11.2. Violation by City. 9.11.2.a. The City shall be deemed in violation of the terms of this Agreement upon failure of the City to carry out any of its obligations hereunder, except that, notwithstanding any language or provision to the contrary in this Agreement,the City shall not be required to take any action or omit to take any action which is illegal and/or outside its powers and jurisdiction,and a refusal to take such action or to omit to take such action cannot constitute a breach of this Agreement by the City. 22 9.11.2.b. If the Developer believes the City to be in violation of this Agreement,the Developer promptly shall notify the City, in writing,through its City Manager,with a copy to the City Attorney,to that effect,setting forth the grounds upon which a violation is claimed,facts in support of such grounds,and the means through which such violation may be cured. The City shall have thirty (30)calendar days following the date of receipt of the notice within which to take action to deny the claim,cure the violation or undertake substantial action toward the cure. If the City fails to cure the noticed alleged violation within the time provided,the Developer may pursue such remedies which are legally afforded to it which are not in violation of this Agreement. 9.11.2.c. If the action of the City is unsatisfactory to the Developer,the Developer may make an appeal to the City Council, provided that, within ten (10) days following the date of receipt of the notice of denial of the claim, or within ten (10) days following the date of expiration of the cure period described in the preceding paragraph,whichever occurs first,the Developer files with the City Clerk a notice of appeal to the City Council. The City Council thereafter shall consider this matter on the agenda of its next regularly scheduled meeting, which shall be an open meeting but not a public hearing, at which the Developer and City staff may present information regarding the alleged violation. Based upon the information presented by the Developer and/or City staff,the City Council shall make a determination as to whether the City is in violation of this Agreement, as alleged by the Developer. 9.11.3. Enforcement of Agreement. Subject to the prior exhaustion of all administrative remedies set forth in Sections 9.11.1. and 9.11.2. above, each party hereby waives all rights save for the right of specific performance or other equitable remedy against the other hereunder and otherwise specifically set forth herein. This specifically constitutes an expression of the intent of the Developer, its heirs,successors and assigns,joint venturers and all others bound hereby, and the City to be a waiver of any alleged Constitutional violations that may be waived by the Parties and, as specified in Section 9.14., below, a waiver of any and all contractual damages of whatever source or type. Any such equitable action or proceeding shall be brought in the Superior Court of Riverside County,State of California,or in an appropriate federal court. 9.12. Attorneys'fees. In the event any legal action is commenced to interpret or to enforce the terms of this Agreement as a result of any breach of this Agreement,the party prevailing in any such action shall be entitled to recover against the party not prevailing all reasonable attorneys'fees and costs incurred in the action. 9.13. Developer Default. No building permit shall be issued or building permit application accepted for any structure on the Project Property with the exception of any 23 structure to be constructed by a merchant builder who acquired the Project Property on which such structure is located from Developer, and who is otherwise in compliance with all requirements for the issuance of said permit, after the Developer is determined by City to be in default of the terms and conditions of this Agreement in accordance with Section 9.11.1., above, of this Agreement, and until such default thereafter is cured by the Developer or is waived by the City. 9.14. Waiver. All waivers of any rights, duties or obligations under this Agreement must be in writing to be effective or binding upon the waiving party,and no waiver shall be implied from any omission by a Party to take any action with respect to any event of default. Failure by a Party to insist upon the strict performance of any of the provisions of this Agreement by the other Party shall not constitute waiver of such party's right to demand strict compliance by such other Party in the future. No express written waiver of any event of default shall affect any other event of default or cover any other period of time specified in such express waiver. 9.15. Developer's Right to Assign or Transfer. The Developer may not assign or transfer any of its rights or interests under this Agreement without the express written consent of the City. The City hereby expressly consents that the Developer may assign its rights and obligations under this Agreement to any other person or entity("Assignee"), at any time during the term of this Agreement,on the terms and conditions set forth in this Section (including all subsections hereof). 9.15.1. Restrictions. Any assignment of the Developer's rights or obligations under this Agreement must meet the following requirements: (i)The assignment(a) must occur in connection with sale, hypothecation or other transfer of a legal or equitable interest in the Project Property or a portion thereof, including any foreclosure of a mortgage or deed of trust or a deed in lieu of foreclosure,or in connection with formation of a new entity which is the assignee and in which the Developer is a partner, member or other form of co-owner,or(b) must result from the formation, by the Developer,of a new legal entity, in which the Developer has an interest,which will own all or a portion of the Project Property; and (ii)the assignee must demonstrate the following,to the reasonable satisfaction of the City Manager: (a)the ability to perform or secure any public improvement obligations required by the City in connection with the Project phase or other interest being transferred, as identified in the conditions of approval of the applicable subdivision map or elsewhere in the Project Approvals; (b) the financial capabilities to meet the obligations of this Agreement as they relate to that portion of the Project assigned to Assignee; and (c) its expertise in managing projects similar in size to the Project phase or other interest being assigned. The City shall give the Developer written notice of its satisfaction or dissatisfaction with the proposed Assignee within thirty(30) calendar days of receipt by the City of the information the City requires pursuant to this Section. If it fails to do so,the Developer may give written 24 notice to the City of its failure to respond, indicating that the City must do so within thirty(30)days of the receipt by the City of the Developer's notice or the City's approval will be deemed to have been given. The City's failure to timely communicate to the Developer its approval or disapproval within said ten (10) days period shall result in City being deemed to have approved the proposed assignment. The City shall,to the extent permitted by law,treat all such information as confidential and proprietary,to be made available solely to City officials and staff required to review it in order to carry out the purposes of this paragraph. If the Developer assigns less than its full interest in the Project or the Project Property,this Agreement shall be binding on the Assignee and on the Developer,to the extent of the interest of each. 9.15.2. Notice Requirement. The Developer shall give the City prior written notice of any such assignment, including a copy of all documents executed by the Developer and the Assignee in connection with the assignment, and the Assignee shall provide the City with notice acknowledging its acceptance of its obligations hereunder as a successor in interest to the Developer. Upon such assignment,the acceptance thereof by the Assignee and provision of the required notices to the City by both the Developer and the Assignee,the Developer shall be relieved of its rights and obligations hereunder to the extent that such rights and obligations have been specifically transferred to and accepted by the Assignee. 9.15.3. Compliance With Project Approvals. Each Assignee acquiring all or any portion of the Project Property, and thus becoming an Assignee of the rights and obligations in this Agreement to the extent of such property acquisition,shall be entitled to each and all of the rights, and be subject to each and all of the conditions and obligations,set forth in,and established by,the Project Approvals. The Assignee takes any such rights, obligations, entitlements or approvals as it finds them as of the date of the Assignment, and the Assignment in and of itself shall not cure any default, or any condition which with notice and an opportunity to cure might become a default,nor shall it act to extend any time for compliance by the Developer or Assignee. Subsequent to an Assignment under this Section, all references in this Agreement to the "Developer" shall mean and refer, instead,to the Assignee as such references pertain to a portion of the Project acquired by the Assignee. 9.15.4. Effect of Assignment; Effect of Default. Upon Assignment and approval of that Assignment as provided in Section, such Assignee shall be entitled to all of the rights and be subject to all of the obligations as set forth in this Agreement, as such rights and obligations apply specifically,either wholly or pro-rata,to that portion of the Project to which Assignee has acquired an interest as the result of such Assignment. Such rights and obligations shall include, by way of example only,the obligations concerning Development Impact Fees and the rights concerning waivers and refunds, each and all as they apply to that portion of the Project so assigned. Any default by the 25 Developer in the terms or conditions of this Agreement or in the Project Approvals, existing at the time of assignment of any of its rights and obligations hereunder,shall remain the obligation of the Developer, unless the Assignee expressly accepts such obligation and the City expressly approves the assignment of such obligation. Any default by the Assignee in the terms or conditions of this Agreement or in the Project Approvals, occurring after the time of assignment of any rights and obligations of the Developer to the Assignee, shall be solely the responsibility of that Assignee, and shall not be deemed to be a default by either the Developer or any other Assignee and shall not affect the rights occurring to any other portion of the Project Property pursuant to this Agreement or the Project Approvals. 9.16. Applicable Law. This Agreement shall be construed and enforced in accordance with the laws of the State of California. 9.17. Cooperation In The Event Of Legal Challenge. In the event of any legal or equitable action or other proceeding instituted by any third party(including a governmental entity or official) challenging the validity of any provision of this Agreement or any potential subsequent development approvals,should any be obtained,the parties hereby agree to cooperate in defending such action or proceeding. 9.18. Hold Harmless Agreement. The Developer hereby agrees to and shall defend, save and hold City and its elected and appointed boards,commissions,officers,agents and employees harmless from any and all claims,costs and liability for any damages, personal injury or death,which may arise, directly or indirectly,from the Developer's or the Developer's contractors'subcontractors', agents' or employees' operations under this Agreement,whether such operations be by the Developer or by any of the Developer's contractors, subcontractors, agents or employees. 9.19. Indemnification. The Developer shall defend, indemnify and hold harmless City and its agents, officers and employees against and from any and all liabilities, demands,claims, actions or proceedings and costs and expenses incidental thereto (including costs of defense, settlement and reasonable attorneys'fees),which any or all of them may suffer, incur, be responsible for or pay out as a result of or in connection with any challenge to the legality, validity or adequacy of any of the following: (a)this Agreement; (b) any environmental impact report prepared in connection with the City's adoption of the Project that is the subject of this Agreement; and (c)the proceedings undertaken in connection with the City's adoption or approval of any of the above. 9.20. Severability. If any term, provision, covenant or condition of this Agreement is held by a court of competent jurisdiction to be invalid,void or unenforceable,the remaining provisions of this Agreement shall continue in full force and effect, unless enforcement of this Agreement as so invalidated would be unreasonable or grossly inequitable under the 26 circumstances or would frustrate the purposes of this Agreement. 9.21. Mortgagee Protection. The Parties hereto agree that this Agreement shall not prevent or limit the Developer, in any manner, at the Developer's sole discretion,from encumbering the Project Property or any portion thereof or any improvements thereon by any mortgage, deed of trust or other security device. The City acknowledges that the lender(s) providing such financing may require certain Agreement interpretations and modifications and agrees, upon request,from time to time,to meet with the Developer and representatives of such lender(s)to negotiate in good faith any such request for interpretation or modification. The City will not unreasonably withhold its consent to any such requested interpretation or modification provided such interpretation or modification is consistent with the intent and purposes of this Agreement. Any mortgagee of a mortgage or a beneficiary of a deed of trust or any successor or assign thereof, including without limitation the purchaser at a judicial or non judicial foreclosure sale or a person or entity who obtains title by deed-in-lieu of foreclosure ("Mortgagee") on the Project Property shall be entitled to the following rights and privileges. 9.21.1. Mortgage Not Rendered Invalid. Neither entering into this Agreement nor a breach of this Agreement shall defeat, render invalid, diminish,or impair the lien of any mortgage or deed of trust on the Project Property made in good faith and for value. No Mortgagee shall have an obligation or duty under this Agreement to perform the Developer's obligations, or to guarantee such performance, prior to taking title to all or a portion of the Project Property; provided, however that a Mortgagee shall not be entitled to a building permit unless the Mortgagee satisfies all of the requirements under this Agreement,the Applicable Rules and any future Project Approvals granted by the City. The above notwithstanding,the Mortgagee shall be on notice of and shall act in compliance with the requirement for a Homeowners Association and Master Declaration described herein. 9.21.2. Request for Notice to Mortgagee. The Mortgagee of any mortgage or deed of trust encumbering the Project Property,or any part thereof,who has submitted a request in writing to the City in the manner specified herein for giving notices,shall be entitled to receive a copy of any Notice of Default delivered to the Developer. Failure of the City to provide notice to the Mortgagee as provided here shall not constitute a limitation on the City's ability to proceed against the Developer for a cure. 9.21.3. Mortgagee's Time to Cure. The City shall provide a copy of any Notice of Default to the Mortgagee within ten (10) calendar days of sending the Notice of Default to the Developer. The Mortgagee shall have the right, but not the obligation,to cure the default for a period of thirty(30)days after receipt of such Notice of Default. Notwithstanding the foregoing, if such default shall be a default which can only be remedied by such Mortgagee obtaining possession of the Project Property, or any 27 portion thereof, and such Mortgagee actively seeks to obtain possession,and continues that effort in a diligent and continuous manner,such Mortgagee shall have until thirty (30) days after the date of obtaining such possession to cure or, if such default cannot reasonably be cured within such period,to commence to cure such default, and thereafter diligently prosecute such cure to completion. 9.21.4. Cure Rights. Any Mortgagee who takes title to all of the Project Property, or any part thereof, pursuant to foreclosure of the mortgage or deed of trust,or a deed in lieu of foreclosure,shall succeed to the rights and obligations of the Developer under this Agreement as to the Project Property or portion thereof so acquired. Such Mortgagee shall not be liable for defaults or monetary obligations of the Developer arising prior to acquisition of title to the Project Property by such Mortgagee, except that, any such Mortgagee shall not be entitled to a building permit or occupancy certificate until all delinquent and current fees and other monetary obligations due under this Agreement for the Project Property,or portion thereof acquired by such Mortgagee, have been paid to City and until all conditions, including installation of infrastructure and other improvements, have been complied with. Notwithstanding the foregoing,the Parties acknowledge that the City has duties to the bond holders under the bond documents which funded the assessment district and nothing contained in this Agreement shall require the City to violates its contractual responsibilities under the bond documents. 9.22. Relationship of Parties. The relationship of the Developer and the City for this Project is that of independent contractors and shall not be construed as a joint venture, equity venture, partnership,or any other relationship. 9.23. City approvals. Whenever a reference is made herein to an action or approval to be undertaken by the City,the City Manager or his or her designee is authorized to act on behalf of the City and/or to sign on his/her own authority amendments to this Agreement which are of routine or technical nature, unless specifically provided otherwise or unless the rules and regulations of the City or other applicable law, rule or regulation, prohibit the City Manager from acting unilaterally in such matters. The approval of a party of any documentation or submissions herein called for shall not be unreasonably withheld, delayed or conditioned. Notwithstanding any language in this Agreement to the contrary,the City Council must approve any extension of the term of this Agreement, any determination of a breach by the Developer or an assignee of the Developer. 9.24. Execution of other documentation. The City and the Developer agree to execute any further documentation that may be necessary to carry out the intent and obligations under this Agreement, provided said documentation does not conflict with this Agreement. 9.25. Estoppel certificates. Either Party to this Agreement shall provide an estoppel 28 certificate to the other as requested from time to time stating, if factually correct,that this Agreement has not been modified, or, if modified,stating the nature of such modification,and certifying that this Agreement, as modified, is in full force and effect. This estoppel certificate may be executed and approved by the City Manager; and approved as to form by the City Attorney. 9.26. Integration. This Agreement constitutes the entire understanding and agreement of the parties with respect to the transaction contemplated by this Agreement. 9.27. Execution and counterparts. This Agreement is executed in duplicate originals, each of which is deemed to be an original. This Agreement may be signed in multiple counterparts,which,when signed by all parties,shall constitute a binding agreement. 9.28. Waiver. No waiver of any right by itself or failure to declare a default when one exists shall constitute a waiver of such right or such default. 9.29. Exhibits. The following Exhibits are attached to this Agreement and are hereby incorporated into this Agreement by reference: Exhibit A: Developer Property Description Exhibit B: Project Property Exhibit C: Club House Phasing Exhibit D: Streets To Be Dedicated To City Exhibit E: Depiction Of Streets To Be Dedicated To City With Maintenance Obligations Exhibit F: Proposed Construction Phasing Exhibit G: Schedule of Development Impact Fees Exhibit H: City Acquired Properties Exhibit I: Public Facilities Financing Mechanism Exhibit J: Cassia,Sol&Verano Delinquent CFD 2000-1 Exhibit K: Indemnity Agreement Exhibit 1: Road Easement to Offsite Reservoir Site 9.30. Recordation of Agreement. The City Clerk shall record a copy of this Agreement with the County Recorder's Office for Riverside County,California. [SIGNATURE BLOCKS ON NEXT PAGE] 29 IN WITNESS WHEREOF,the undersigned parties have executed this Agreement effective as of the date first above written. "DEVELOPER" "CITY" VERANO RECOVERY, LLC CITY OF CATHEDRAL CITY, a California limited liability a municipal corporation company By: INLAND COMMUNITIES CORP., a California corporation, its Managing Member By: _ By: _ v� Jamal A. Ah ' .`! _ Stan Henry, Mayor APPROVED AS TO FORM. F ,. Charles Green, City Attorney ATTEST: — gliZtiot / Gary F. Howell, City Clerk P:\APPS\W PDATA\OATH\0046-57 Verano Development Agreement-001.14 Purchase and Performance Agreement (KAP revise 5-26-15).docx 30 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§1189 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 )VI/side, ) • On 12 12DI5 before me,T1T't(`e \1Z• 1--t4 iA■ 2./k)(A-C4 vv\ 4I2l'Cs , Date J� Here Insert Name and Title of the Officer personally appeared V(A r li 11 Ahfl' A Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person'vs)'whose name‘s1 subs ribe to the within instrument and acknowledged to me that he/sb(e/th)y executed the same in his/hbr/tlir authorized capacity(ies'f,and that by his/hf/tFir signatureM'on the instrument the person(sf, or the entity upon behalf of which the person0 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. TpA/1Ey WITNESS my hand and official seal. MARTINEZ Commission 2100591 Notary Public-Cwlerde . SignatureU A.,e,G ; Riverside County *- Comm 31 3019 Sig tune of Notary Publ Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document p, �L � Title or Type of Document:-Putt-EA/1W Pe✓ ccvvtci rice /�J' ocumen Date:C j(-trr zt 201S- Number of Pages: 4(p Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Signer's Name: ❑Corporate Officer — Title(s): ❑Corporate Officer — Titl- s): ❑Partner — ❑ Limited ❑General ❑ Partner — ❑Limited • General ❑Individual ❑Attorney in Fact ❑ Individual ❑ • orney in Fact ❑Trustee ❑Guardian or Conservator ❑Trustee • uardian or Conservator C Other: Drr9 i -I- Cl Other: Sjgner Is Representing: Ifll(Afl A Signer Is Repre nting: GOmrnu141-h?� Ci ∎rp�eit-htvl Lc'uc� „ " erv,eptic dc'c'4 02014 National Notary Association •www.NationalNotary.org • 1-800-US NOTARY(1-800-876-6827) Item#5907 PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBITS"A"THROUGH "1" (to be attached) 31 PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery,'LLC-Cathedral City) EXHIBIT"A" DEVELOPER PROPERTY DESCRIPTION (to be attached) j2 EXHIBIT "A" DEVELOPER PROPERTY DESCRIPTION That certain real property,together with the improvements thereon, located in the City of Cathedral City, County of Riverside, State of California,more particularly described as follows: Lots 9 through 16,inclusive, 57 through 60,inclusive, 64, 72, 145 through 217, inclusive,238 through 261, inclusive,270,275 through 277,inclusive,289,291,293, 294 Lettered Lots A through Z, inclusive, AA through KK, inclusive,NN, PP Al,A2, A4 and A5 of Tract No. 28639-1 in the City of Cathedral City, California, as shown by Map on file in Book 300, Pages 53 through 66, inclusive,of Maps,Records of Riverside County California. Lots 1 through 71, inclusive, of Tract No. 32559 in the City of Cathedral City, California,as shown by Map on file in.Book 390, Pages 37 through 41,inclusive,of Maps, Records of Riverside County California. PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"B" PROJECT PROPERTY (located on file in the City Clerk's Office of the City of Cathedral City, California) 34 3' .y..... fc 0. ;�' �� , ---�._ C� ,,,r 4,,,,,,,, i, ., , ' -7 / 1,,i',:.,-.„--.„71..--..i_.„,i,. ---1,.--__--i. i': itl', ii'-: iri,,,,,- eLgel... : , � - ; ; gym �.' - 7311 I Ik. • ' - aI ) .. --"ter- i 1 f,W.y. —r � ~a{ ! f , , .,,,,,7:1;,...,•/•40,,=-4;i- 9+u',"1/ . I 4 t _r , 1 fl y' zrYB _ ! r ; I a 9 a .7 :3i .f; - }t(,s e amok j . 4 S 1 I 'x # t �,, a ii ,r,r ¢k t "` t4a b ee# k It Eill$ r.< „II: f Z� c:. �. S as ,.• +rte "'" ez tF{ 1 n_!1, rd y a sa (i et 4 3.. i �i " 'a-y PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"C" CLUB HOUSE PHASING (located on file in the City Clerk's Office of the City of Cathedral City, California) ,'f-"1:.::;;:1.7";ItA*''' -:-4'--:'. 4;'*41**"-*''''**4..*'‘i k. •'i4''' o i"".‘. ,='**.,,'f i''''',!-;'' '' 4*,* s* .411.'r., 4,40, ' '''. ' est g 00 .' i: ` I. A's t, / r O 111 P 4111111 r sK � � T i �.41. 01 Ch ,,,,,,, U It*. s 4 ..- . t t r *It .. ..... ., b * 4?:P"' .. ro " N: «„y k 4 .,, 44. '', , 1 . - Y L}v A s 'At'''' ? R asc PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"D" STREETS TO BE DEDICATED TO CITY (to be attached) EXHIBIT "D" STREETS TO BE DEDICATED TO CITY Lots A through Z and Al through A5 of Tract No. 28639-1, AS SHOWN BY MAP ON FILE IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CAUFORNIA Said streets and limits of maintenance responsibilities are shown on the attached Exhibit "E" - Depiction of Streets to Be Dedicated and Maintenance Obligations, pages 1 through 4 of 4 which is made a part of this exhibit "D". 37 PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"E" DEPICTION OF STREETS TO BE DEDICATED WITH MAINTENANCE OBLIGATIONS (located on file in the City Clerk's Office of the City of Cathedral City, California) 35 t,) d- I-- CO o 4 w a, C' co a r- O a U- 9 C' Y ..i L 0 _ _ y LU Q Q _k -7- a.l .al W CCI Vm x W O O + W r. m W Z �) F- = W Q t`_-- C' X Z W N W r. }z, ,,. u Q LL Z 1 H- O r -1 Z Q H A 7,1 mit O d Q r W ...4 0 J Ci E ...., 2 ', 0 II .1" .4- 0 C•I C) On CO 0- i\lit r 1\ -4 k. ,..g.,,, ■ , I. • 1. <4 .4 fit .`1. 4 < l.:. - -r I 1:, ,. 4----i---T— , ,J • .,.skr. 1 , .z., ■ r *.t _ 1 .4t 44. , '• t__ I" „i r 1 ' i 4' * , 4 if "... 1. 1 7 1 .1 4 i :I .1" f , , c t -, ..,- 't 1 ,.t 4 . -,-. , , ....._ _ .,i i o ■,(' X , GC t X- b- f.4:114 1. r . k .,.. I CI „ - A AI I ,„I, IJJ k Or, 11 fr C * ' 4` * g x 4 - ' L • .. , I t - / • U 0 j ' • * It , X Cl 1— si 14 ---t ,1, .,, ,.., •LLI 4:( 1 is . -Pr i. i - 'i I, :t ■ - , LL r -1 . I = I. t •,- * - . , 1 CO ea . i; ...- ' X .. -, !^, IJ 0 0 1 I. 4 : : ^ i ''' .4 A ' ,t _/* t : _. _It_L I— (/) t I 4 1 _' ..„E g — I— •-• l'' M ed X SM.' Z II LLI te, uj 0 Z 7 0 * i ..- .--. ft.'; it: c-4 i 7% 4J r4I't . 44. c,■..., .-- rt '-.. .., .k, ■ , i T II - 1.1.1 . . ..' 1 . 4- . ... ■ ,i, 0 ITO... 1"" ; i ‘..k., I,- 4 ,1. 1 - I • i t. -1--- t' . t ) ri i .., 1 44 I - ' I q A I'S 1.1 .4 4 k , .,. . , . <I * 09N c L t, ,_ , . t,r., ,4! - * :4 ' \,.... ,<I • , I ' - 1, t<-' x• C '' ' ,;,'... • '. 1 "4, - 1 1 - * '..4.:l* l'A''''l , ..41L. `174,,.. 1 i. 1 '1' ..■ -IL 4,, ir: ''i * Iii 1 . .r, '- .1 - 4 f . . .,= ,, , 4 1,A, r • A -...L ._ ... I i ' 1 .. ,.. ... .,' ** CC k , - ',... ,-. 4.. t ... .. 4 :1 ": , f.„_, A t ' I . . u. , / I ri_ .1_ , ..1... -_, 4 ..' ..j '. r 1r1 `;` __. 1 -, ____L..._. ..C.....__ ., i t 1 . i . lr 4..... . .. i 30b 4:r t 0 .: m ai �' 04 ca o. x 2 vac', w 4 ,. ,,,k. :4,,.4„,, ,..‘,.., 4 i t .$* *,,,.,...... ,,:I.,, : ',:,,,,t.1' til 1:4,4::* 1.1'": sz, ,4,1, I.' 7,...,.* ' ,,,,,.' ..0 6 Ai a1 ). y ''' is 7. flt __ _ I „..1 :�t� 'Iii a` ti,, . sLY a _._ __ , ? r ,Q Z ? ..,,if f _ _ W J + m m W O O H W W m Z = CC Q W N W O , Y' v * 44.Z Q yyy it -I rt y It W a d".! .V' 4' Z t " 4""v.° 4 'r 1T t aj t i4 t �i `C .4 t z R' + a 4. i r{ `4 i t r I t � 3 4 1 r: —t—,.*-1— 44 30 c1 w r• :,,.„(a,,,4 o a., tkA z t t eL `2 1 4 Ct ro Cv tt�`c I �1 ,i �.�a k Id t F W 't 1� 1 R i.l 1 = i ( � - o •a ti- ,�*t� - co m WOO • ~ W t U W Z ti CO W ,. xoca t y �: T It O Z -4- "' 0 �--:�; Cff� '�' F -III' ° �r.7�C;4Z': Z Q v,. _ M ,i w fi~t^v S` �. U Z - '` ra '•t .t. i. 41•' ■ I • • ya M 3S PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"F" PROPOSED CONSTRUCTION PHASING (located on file in the City Clerk's Office of the City of Cathedral City, California) ...� o 0 W • O N - r ✓ Q -H,I.,:'-:7:', �� CL a.�„ i #- - O-I �.., " `" ' "' � X O r"- -{ , 4 y z 2 7�lf . 3 2Q 'a. uc7 / J d 4 �F 4; ' �+, ,Y , , ;,, 3" r 11 . _ 4nr ya,,.""t, ',m I P ;4 O Ems f I,ems. ."r x. 4 �1 4 ,�f Z '� r a a1.:2'"s ti ` s,' t�,,,. .., 4") ..�. „..,,....fie'” 5 i a z S0SiG .:,, :- -:-. i'r ;. -",,ellottioj:t i it !IN, - '',,,14'- , $ �a P ->a ;rte IIe Z• 4144 ',;•lots, ' fir....°,,,,■,a > . ;' Z i r �, I f :a o. 3 ` P n. t, f. aM ,.�✓ �� �k ..�Ore ..ir .,. ,�p. . {4E %{ W ...,ry 3 {{ fl tar VI a CA 6 Z # d3 , h lair. 1 { ww. f PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"G" SCHEDULE OF DEVELOPMENT IMPACT FEES (to be attached) AV • EXHIBIT "G" SCHEDULE OF DEVELOPMENT IMPACT FEES 1. Fire and Police Facilities and Equipment Fund and Traffic Signalization Fund: As per fee schedule in Section 3.17.020 of the Cathedral City Municipal Code, as adopted by City Ordinance 21, as it existed at the effective date of this Agreement. 2. Master Underground Plan (MUP) fee: As per Chapter 8.30 of the Cathedral City Municipal Code and City Council Resolution 90-94, adopted October 3, 1990, as they existed at the effective date of this Agreement. 3. Development Impact fee: As per City Council Resolution 2006-1, adopted January 25, 2006, as it existed at the effective date of this Agreement. AI PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"H" CITY ACQUIRED PROPERTIES (located on file in the City Clerk's Office of the City of Cathedral City, California) 42- EXHIBIT "H" CITY ACQUIRED PROPERTIES Real property in the City of Cathedral City, County of Riverside, State of California, described as follows: PARCELS 1 THROUGH 4, INCLUSIVE, OF PARCEL MAP 34148, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN ON THE MAP RECORDED IN BOOK 220, PAGES 8 THROUGH 10, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. APN: 677-050-031-9, 677-050-032-0, 677-050-033-1, 677-050-034-2 PARCEL A OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2006-434; RECORDED SEPTEMBER 29, 2006 AS INSTRUMENT NO. 2006- 0720930 OF OFFICIAL RECORDS, BEING A PORTION OF LOT 273 OF TRACT 28639, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY MAP RECORDED IN BOOK 300, PAGES 53 THROUGH 66, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY, CALIFORNIA. EXCEPT THEREFROM THAT PORTION DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE SOUTHERLY LINE OF SAID LOT 273 WITH THE CENTERLINE OF RIO GUADALUPE ROAD, AS SHOWN ON SAID TRACT NO. 28639-1 ; THENCE NORTHERLY ALONG THE WEST LINE OF SAID LOT 273, NORTH 00° 08' 10" EAST, 148.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE PARALLEL WITH THE CENTERLINE OF RIO ROSALIA DRIVE AS SHOWN ON SAID TRACT NO. 28639-1, SOUTH 89° 51 ' 50" EAST, 1,356.00 FEET; THENCE ALONG THE EASTERLY LINE OF SAID LOT 273, NORTH 00° 08' 10" EAST, 139.53 FEET; THENCE ALONG THE NORTHERLY LINE OF SAID LOT 273, SOUTH 89° 46' 13" WEST, 1,356.03 FEET; THENCE ALONG SAID WEST LINE OF LOT 273, SOUTH 00° 08' 10" WEST, 130.87 FEET TO THE TRUE POINT OF BEGINNING. APN: 677-050-027-6 It ALL THAT PORTION OF THE WEST ONE-HALF OF THE NORTH ONE-HALF OF FRACTIONAL SECTION 5, TOWNSHIP 4 SOUTH, RANGE 5 EAST, SAN BERNARDINO BASE AND MERIDIAN, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF, SHOWN AND DESIGNATED AS "REMAINDER PARCEL" ON PARCEL MAP NO. 34148 RECORDED IN BOOK 220, PAGES 8 THROUGH 10 INCLUSIVE OF PARCEL MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. APN: 677-050-029-8 LOT 65 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THE WESTERLY 4.50 FEET OF LOT 66 OF SAID TRACT NO. 28639-1 . SAID DESCRIPTION IS MADE PURSUANT TO THAT CERTAIN CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-400 RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 197072 AND RE-RECORDED APRIL 15, 2005 AS INSTRUMENT NO. 2005-297757 BOTH OF OFFICIAL RECORDS. APN: 667-551-027-4 LOT 2 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE WESTERLY 19.38 FEET OF LOT 2 OF SAID TRACT NO. 28639-1 . TOGETHER WITH THE WESTERLY 19.38 FEET OF LOT 1 OF SAID TRACT NO. 28639-1 . SAID DESCRIPTION IS PURSUANT TO PARCEL B OF CERTIFICATE OF COMPLIANCE RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 197073 OF OFFICIAL RECORDS. APN: 677-551-020-7 LOT 8 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THE WESTERLY 11 .38 FEET OF PARCEL "G" AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402, RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005-197074 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. SAID DESCRIPTION IS PURSUANT TO PARCEL 1 OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2004-409, RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 0197075 OF OFFICIAL RECORDS. APN: 677-551-025-2 LOT 66 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE WESTERLY 4.50 FEET OF LOT 66 OF SAID TRACT NO. 28639-1. TOGETHER WITH THE WESTERLY 21 .25 FEET OF LOT 67 OF SAID TRACT NO. 28639-1 . SAID DESCRIPTION IS PURSUANT TO PARCEL B OF CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-400 RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005-197072 AND RE-RECORDED APRIL 15, 2005 AS INSTRUMENT NO. 2005-297757 BOTH OF OFFICIAL RECORDS. APN: 677-551-028-5 LOTS 67 AND 68 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 TO 66, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE WESTERLY 21 .25 FEET OF LOT 67 OF SAID TRACT NO. 28639-1. SAID DESCRIPTION IS PURSUANT TO PARCEL A OF CERTIFICATE OF COMPLIANCE, LOT LINE ADJUSTMENT NO. 2004-400 RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005-0197072 AND RE-RECORDED APRIL 15, 2005 AS INSTRUMENT NO. 2005-0297757, BOTH OF OFFICIAL RECORDS. APN: 677-551-029-6 4Zc- PARCEL E, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402 RECORDED ON MARCH 11, 2005 AS DOCUMENT NO. 2005-0197074 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE EASTERLY 6.50 FEET OF PARCEL E AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402 RECORDED ON MARCH 11, 2005 AS INSTRUMENT NO. 2005-0197074 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THE EASTERLY 13.00 FEET OF PARCEL F AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402, RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 0197074, OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. SAID DESCRIPTION IS PURSUANT TO PARCEL 2 OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2005-431 RECORDED AUGUST 03, 2006 AS INSTRUMENT NO. 2006-0569754 OF OFFICIAL RECORDS. APN: 677-551-031-7 PARCEL H, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-409 RECORDED ON MARCH 11, 2005 AS INSTRUMENT NO. 2005-0197075 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPTING THEREFROM THE EASTERLY 6.50 FEET OF PARCEL H AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-409 RECORDED ON MARCH 11, 2005 AS INSTRUMENT NO. 2005- 0197075 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. SAID DESCRIPTION IS PURSUANT TO PARCEL 4 OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2005-431 RECORDED AUGUST 03, 2006 AS INSTRUMENT NO. 2006-0569754 OF OFFICIAL RECORDS. APN: 677-551-033-9 LOT 299 TRACT 28639-1, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. APN: 677-050-016-6 42.d . ,. r ; =4:• ,. •r< "K< j ;4 - "• - . k- �11F yF > ,,"if,e: t r a .:,:.r. .1:::,...,4:.,... ...44.4-2*''...:..,3i'f• 4" �.-: .[R.?• .. ''''''. '........': ' 7' ''.. ;:-.. -.' 1� �, f i ,s l 3 • I * w . , mss;' _ ". ,xt a a.•5+7 . - w#.��y,I• ,` •'R IL • .`.., •.. F , ; ,!' i t 4I. 9I •4, • ts rk:-. : r cfr• , .. ri 9° .'.•• (. I '• ,fy�... ... _g�� t3.-.. I�' w.. .tom, .-►, . '. !1� x•bus¢+w" :'t�' 1... t A �• ;:•,. , f •1! 1 44 -; i/, xti 1 ;TM's-, ... .• w•' • •M "_+ : _. t. `P': ,wnw..+m,- ." .. •..� -. •+ice t +a'# • •s•t . ..,F R �" V f .i ax � S k t .a"4 vF ',i'�•'+a►a : r` .a • .7 . t t ..: {sue ° - r .': t ' ' ' , i .,:ea s r r"*, yr• 1 .F ,- , F i--.I: . 3,. .+ ,.t . E„.„ j tt; •.� i . +;.i .0 t S• •` .gyp_ .4,ay 2.+ti.._ 4.. t 7 1 .y 7` ft {J^•*-_:40,-, .£ 4 1' M'- d ''''..r* • ij.. .1'40... ♦ • ufi . , y E !. ; F w r � • r ., .-'''.' .,..,,,,r„..?.... ..':. ..,:-'..:. 4si....":7',-- i__;:: .7 ;:r!.'"/-.# 4:,-'4 .7: ."„4.•::4:.4',,%..-,- -.,.. :.... .i.....'.1'' .'... . ....''',;''''.-, -: '..:'-':-4.'.,',:::.,t1,`" ,.... 1.4.;' i le ler' . ¢'. w :q r F a i� a irw k. 4 • i •-. - . •:• •. ••• 4 •T Yri,=yy • • F, . ` F« µMI.4.`ti•"`... ..MY f 'F . r , ,., .• • • . F • r . i .. ..,M ' M i` ` ir+• : ....• PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"I" PUBLIC FACILITIES FINANCING MECHANISM (located on file in the City Clerk's Office of the City of Cathedral City, California) �3 EXHIBIT"I" PUBLIC FACILITIES FINANCING MECHANISM This Rio Vista Village CFD Restructuring Plan ("Financing Plan") outlines the basic terms and conditions pursuant to which the City and Property Owner will cooperate to place CFD No. 2000-1 ("CFD") in good financial standing, as well as set forth criteria for issuing new or additional bonds to fund the acquisition and/or construction of public improvements applicable to the Project. The primary goals of the Financing Plan in conjunction with the Purchase and Performance Agreement of which this is an exhibit hereto are: : • Establish a plan to remedy the existing property tax delinquencies of parcels within the CFD so that the CFD is placed in good financial standing; • Establish a plan so that the Owner has reasonable certainty as to how the CFD will be implemented, and how additional bonds will be available to fund remaining public improvements of the Project; • Establish a plan that is consistent with the City's Goals and Policies for Land Secured Financings, and the CFDs Additional Bonds test; • Provide for the issuance of additional bonds in series in order to minimize carrying costs and improve overall bondholder security. Capitalized terms not otherwise defined in this Financing Plan shall be defined as provided in the Purchase and Performance Agreement to which this Financing Plan is an exhibit hereto. 1. The City has acquired a number of parcels known as "PSRV" which are more fully described in the Purchase and Performance Agreement dated l'Unl6 2 ZDic of which this is an Exhibit hereto and in Exhibit H "City Acquired Properties" of that Agreement. 2. The City has also acquired title through a credit bid on the delinquent parcel known as "RVVA Well Site, Lot 299" which is comprised of assessor parcel number 677-050-016 and more fully described in the Purchase and Performance Agreement and in Exhibit H "City Acquired Properties". 3. The City will simultaneously resell such parcels to the Property Owner under the terms of the Purchase and Performance Agreement;, and, will waive all penalties, fees and interest owed to the CFD from these parcels. Upon acquisition of the PSRV and RVVA parcels under the terms of the Purchase and Performance Agreement, The Property Owner would be subject to County of Riverside secured delinquent taxes (if any), as well as future CFD and ad-valorem related taxes. The City will insure that all CFD related Taxes, Penalties, Fees, Assessments and Interest will be current for all parcels listed on Exhibit H "City Acquired Properties" and Exhibit J "Cassia,Verano and Sol Delinquent CFD 2001" as of the close of escrow upon the payment made pursuant to Section 6.2. of the Purchase and Performance Agreement. The City and their CFD consultant will work together to insure that the Assigned CFD Taxes for the tax year 2015/2016 will be calculated according to the formula required within the bond offering documents 1 `"f3 based upon the reserve account considered fully funded and there being no delinquencies for undeveloped properties within the CFD. 4. Upon the Property Owner obtaining ownership of the City Acquired Properties, the Property Owner will own approximately 99% of remaining developable land within the CFD. 5. Currently, there are about 137 homes ("Existing Homes") and about 192 remaining acres of developable land with the CFD ("Undeveloped Land") that are estimated to yield about 1,225 future housing units. 6. The Property Owner will have the option of either requesting the issuance of Additional Bonds pursuant to the "Additional Bonds" test in the existing CFD Bond Indenture or, alternatively, forming a New CFD ("New CFD") on the Undeveloped Land with one or more improvement areas established concurrently with the formation of the new CFD for the purpose of: (i) paying off the existing CFD lien on the Undeveloped Land, and (ii) generating additional bond proceeds to fund certain public improvements of the Undeveloped Land. The City shall make best efforts to cooperate with the Property Owner relative to the timing of one or more bonds issuances. 7. If the Property Owner chooses to pursue a New CFD, the existing CFD 2000-1 area would be reduced to only include the Existing Homes and the Existing Homes would repay the CFD allocated to those Existing Homes. In the event the New CFD bond proceeds exceed the amount required to to put the Existing Homes into their original position of debt service coverage at the time the CFD bond were issued, then any excess bond proceeds shall be deposited into the improvement account of the New CFD to be used to fund public improvements. 8. If the Property Owner requests that the City issue Additional Bonds for the CFD, the City mad determine to issue one or more bond issuancesr and each bond issuance shall be sized to include the following features: (i) up to 24 months capitalized interest, and (ii) the term of the bonds shall match the remaining year to levy CFD taxes under the existing CFDs Rate and Method of Apportionment. 9. If the Property Owner requests that the City chooses to issue New CFD bonds, the first bond issue would be issued including funds to pay off the existing CFD lien on the Undeveloped Land and include the following features: (i) 2 years capitalized interest, and (ii) 32 year bond term. A second additional bond on parity with the first bond issuance may be issued at a later date based on development activity with the same features applying to the second issuance that were used in the first issuance or alternatively, if, at that time of formation, the new CFD contains more than one improvement area with bonds,shall be secured by specific improvement areas. 10. If selected, the New CFD will use a modified Rate and Method of Apportionment based on house square footage ranges in one or more tax zones with different tax rates for developed property based on updated and current home price estimates. Wage 4312 11. The New CFD shall be authorized to finance all City or other Agency on-site and off-site public improvements ("Facilities" or "Facility"), city capital improvement fees and reimbursement for Owner financed City improvements incurred after the establishment of the new CFD required by the Project's conditions of approval or the Agreement ("Contributions"). Costs of the Facilities to be constructed by the Property Owner that are eligible to be financed in the New CFD are as follows: a. The actual hard costs for the construction of a Facility, including labor, materials and equipment costs; b. The costs incurred in designing and preparing the plans and specifications for a Facility; c. The costs of environmental evaluation of or relating to the Facility; d. Fees paid to governmental agencies for obtaining permits, licenses or other governmental approvals for a Facility; e. Costs of construction management and supervision; f. Professional costs associated with the improvements , such as engineering, legal, accounting, inspection, construction staking, materials and testing and similar professional services; g. Costs directly related to the construction of a Facility, such as costs of payment, performance and/or maintenance bonds and insurance costs, and h. The value of any real property or interests therein that is required for the construction, maintenance or operation of a Facility provided such real property is not required to be dedicated pursuant to the Agreement. Discrete components of the Facilities consisting of usable segments and various cost categories relating to such segments may be funded by the CFD. Examples of cost categories consisting of discrete components are as follows: Streets • Planning, design, engineering and permitting; • Grading; • Paving (other than final asphalt cap, curb, gutter, lighting and dry utilities); • Sidewalks; • Real property costs; and • Final lift, asphalt cap and other final completion items and remaining soft costs. Wet Utilities (Sewer, Water, Reclaimed Water,Storm Drain) • Planning, design, engineering and permitting; • Grading and trenching; • Installation of channels, pipes, basins, rip rap and other structures; • Real property costs;and 11-3c, • Final completion items and remaining soft costs. Parks and Trails • Planning,design, engineering and permitting; • Grading; • Installation of irrigation, landscaping, parking facilities, play and recreation equipment, bathrooms and other structures; • Real property costs; and • Final completion items and remaining soft costs. Facilities and Contributions may be financed as payment requests are submitted based on actual cost without prioritization. Facilities and Contributions may be authorized to be financed with the New CFD bond proceeds and special taxes of more than one improvement area. If Owner or its designee serves as construction manager on Facilities and/or Contributions, such entity shall be paid a management fee of 5% of the contract prices of all contracts managed by such entity. 12. Receiving Agencies. The City agrees to assume responsibility for the ownership, operation and maintenance of the completed public improvements acquired or constructed with the New CFD bond proceeds, provided that such improvements are reflective of the type of improvements which are typically owned, operated and maintained by the City. Furthermore, the City agrees to cooperate and pursue intergovernmental agreements with other public agencies such as the Palm Springs Unified School District, if applicable, to secure ownership, operation, and maintenance of completed public improvements acquired or constructed with the New CFD bond proceeds which are typically not owned, operated, and maintained by the City. School facilities would be included as a "Contribution" if included in the New CFD. Alternatively, if an agent other than Cathedral City is the lead agency in the formation of a New CFD, the City agrees to cooperate in securing an intergovernmental agreement with that agency so that City-related public improvements can be acquired or constructed by such New CFD. 13. Additional Financing Criteria. The City will assist in issuing New CFD bonds in one or more series to acquire or construct the Facilities and Contributions using the following parameters: (i) a precondition to the issuance of bonds shall be that the value of the real property subject to special taxes required to repay the bonds shall be at least 3 times the amount of the bonds and any other land-secured debt (excluding any proceeds of the bonds to be deposited in an escrow fund), (ii) total effective annual tax rates paid by the ultimate users of residential property shall not exceed 2% of the estimated sales prices at the time of CFD formation, (iii) special taxes and bond debt service may escalate up to 2% per year, (iv) the amount of each New CFD bond issue shall be determined by using $25,000 in priority administrative costs and 110% debt service coverage, (v) the backup special tax shall apply to the ultimate users of residential property, (vi) full or partial prepayment of the special taxes shall be permitted, and (vii) special taxes may be levied at 100% of the assigned special tax rate on each parcel of developed property in each fiscal year in which the special taxes are levied and collected to pay debt service on the New CFD bonds or until payment of all approved payment requests, acceptance of all Facilities and submittal and approval of payment requests for all Facilities, whichever is earlier. 41Page, 13O 14. Bond Release and Fee Credits. The City agrees to relieve Owner or its designee of any improvement security or performance bond requirements relating to and otherwise applicable to the Facilities and Contributions to be funded with the New CFD bonds which have been issued and sold. 15. Other Funding Sources. The City agrees to exercise best efforts in accordance with applicable law to apply for and diligently pursue regional, state, and federal funds that may be available to supplement funding of some or all of the cost of Facilities or Contributions. 43e Wage PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) EXHIBIT"J" CASSIA, SOL&VERANO DELINQUENT CFD 2000-1 (located on file in the City Clerk's Office of the City of Cathedral City, California) 44 EXHIBIT "J" CASSIA, SOL & VERANO DELINQUENT CFD 2000-1 CASSIA PROPERTY: Lots 72, 191 through 217, inclusive, 238 through 261, inclusive & 270 of Tract No. 28639-1, AS SHOWN BY MAP ON FILE IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA VERANO PROPERTIES: Lots 275, 276, 277 & 293 of Tract No. 28639-1, AS SHOWN BY MAP ON FILE IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA SOL PROPERTY: Lot 289 of Tract No. 28639-1, AS SHOWN BY MAP ON FILE IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA 44 CA . . • w «, .F. .' �+• 0.t...,„fir i . h' ,, '°ff ,: .r�� ,� r Pi t ti ' ° t - tr)' . . i N a + r . .w r ems:, .` * M°.-,i 1 - '. , ► C '.* ' r. ' ''' : - '---7 . 4 . 4,-,r, , - ii„, . , ... ..,.. , , . ...... ...: . .. , , .....: „ ,,. ...„ .„,..... .... ....„, . , ... ,,,i; ... i. . . „„. ,....,-7i if ?to.' 441 5 14 1 �"', * f *****? 16 >6 CX .06*.°4$"0. &,..,..... iit ---4.4,,, alkk' S:04 • ' ' ' .! �• @--- , f.40 (✓F � 9.1 `sue -1", c • . +,. 6 .+ ." 1.- .,, orretriviiiap),,,,,. , _ 4 Li,* 46; s' ^ V H, CC ry c= _ CD'. `10•0•= 4 gyp" p hf- Co th °w Ilk is 0 iii4 "t3 ....4";"6,.. § *t , w 44i (j 111114111110: r‘loalammeimmposoittomai fM a PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) Exhibit "K" INDEMNITY AGREEMENT (located on file in the City Clerk's Office of the City of Cathedral City, California) A-5 Reference Information Accepting Office/Agent: Property Address/Project Reference;,Cathedral City,CA File Number:NHSC-4894052; 4894089; 4894097&4894117 INDEMNITY AGREEMENT II (Record Matters) INTRODUCTION THIS INDEMNITY AGREEMENT II (this"Agreement")is made and entered into as of this Twentieth day of May,2015, by The City of Cathedral City(such named Persons, along with any other Person who executes this Agreement, individually and collectively, the "Indemnitor")in favor of FIRST AMERICAN TITLE INSURANCE COMPANY, a Nebraska corporation, Its affiliates,subsidiaries,and agents(collectively"First American"). • RECITAI.S: A. Indemnitor is the owner of,and/or has a material Interest in, the Property or a transaction involving the Property. B. The Property Is subject to the Record Matters described more fully below. C. In connection with a contemplated transaction involving the Property, First American has been requested to issue one or more Title Policies in respect to the Property insuring against loss or damage by reason of the Record Matters. D. In connection with future transactions, First American may Issue one or more Title Policies insuring against loss or damage by reason of the Record Matters, If First American, In its discretion,elects to issue a Title Policy for the Property, it will do so in material reliance on each of the covenants, agreements, representations,and warranties of Indemnitor set forth in this Agreement,and First American would not have issued a Title Policy but for such covenants, agreements,representations,and warranties of Indemnitor. NOW,THEREFORE, the parties hereto agree as follows: AGREEMENT: 1. DEFINITIONS. As used herein,the following terms shall have the following meanings: Effective Date: The date this Agreement becomes effective in accordance with Paragraph 3 below, Person: A natural person, or an artificial person(Including, without limitation, a corporation, partnership,limited liability company,trust,or other artificial person),as the context may require. Policy Date: The"Date of Policy"as indicated on Schedule A of a Title Policy. Property: That certain real property as described on Exhibit A attached hereto and incorporated herein by reference. Property Owner: The Person or Persons that own(s)the Property. Record Matters: The matter(s)of record existing against the Property as more fully described on Exhibit B attached hereto and incorporated herein by reference. Reference Information: The informational Items Indicated on the header of page one of this Agreement, State: The state,commonwealth,territory,or similar political subdivision In which the Property is located. Title Policy(les): Policy or policies of title insurance issued by First American with respect to the Property. Revised July 2,2014 ©2014 First American Tide Ins.co. Ail Rights Reserved 2. REPRESENTATIONS AND WARRANTIES. As of the Effective Date, Indemnitor represents and warrants to First American that all information regarding the Record Matters disclosed to First American(whether orally or in writing) by Indemnitor or any Person(s)controlling, controlled by,or under common control with Indemnitor is true,correct, complete, and accurate in all material respects, 3. EFFECTIVE DATE AND TERM. 3.1. Effective Date. The Effective Date of this Agreement shall be the earlier of the date First American issues or becomes contractually obligated to issue its Title Policy in connection with the Property. Where First American issues more than one Title Policy in connection with the Property,the Effective Date shall be the earliest Policy Date of the respective Title Policies. Indemnitor acknowledges and agrees that delivery of this Agreement by Indemnitor to First American shall not be deemed a commitment to issue a Title Policy for the Property. First American has no obligation or duty to Indemnitor, Property Owner, or any other person to accept this Agreement or,in the future,to issue a Title Policy for the Property solely by reason of this Agreement. 3.2. Term. Upon acceptance of this Agreement by First American as evidenced by the issuance of a Title Policy,this Agreement shall remain in effect until terminated by written agreement signed by each of Indemnitor and First American, Indemnitor acknowledges and agrees that First American may rely on this Agreement to issue a Title Policy at any time without notice to or further approval of Indemnitor. 4. MULTIPLE INDEMNITORS. 4.1. Joint and Several. If there is more than one Indemnitor under this Agreement, then all of the obligations contained in this Agreement shall be the joint and several obligations of each and every Indemnitor. Each Indemnitor shall be fully liable to First American even if another Indemnitor is not liable for any reason, including the failure of such Indemnitor to execute this Agreement. 4.2. Waiver and Release. First American has the right,in its discretion and without notice to or consent by Indemnitor, to(a)waive any provision of this Agreement as it relates to any Indemnitor,at any time or from time to time, without providing the same or similar waiver for the benefit of any other Indemnitor,and/or(b) release any Indemnitor from any or all obligations under this Agreement at any time or from time to time, without releasing any other Indemnitor. 5. INDEMNIFICATION OBLIGATIONS ANp RELATED COVENANTS. 5.1. Indemnity. In addition to any other rights or remedies available to First American at law or in equity, Indemnitor agrees to pay, protect, defend,indemnify, hold and save harmless First American from and against any and all liabilities,claims, obligations,losses, costs,charges, expenses,causes of action,suits,demands, judgments, and damages of any kind or character whatsoever,including,but not limited to, actual attorneys'fees and costs(including appellate fees and costs)incurred or sustained by First American, and actual attorneys'fees awarded against First American, directly or indirectly, by reason of, relating to,or arising under any Title Policy relating to the Record Matters, or in any other action at law or in equity under any theory of recovery as a result of the existence of the Record Matters. For the avoidance of doubt, it is the intent of the parties that all loss, cost, or expense relating to the Record Matters will be borne by Indemnitor,and not by First American. 5.2. Duty to Notify First American. Indemnitor shall notify First American in writing if Indemnitor is in any manner notified or becomes aware of a claim or dispute which relates to the Record Matters, or of the filing or commencement of any action at law or in equity or any judicial or non-judicial proceeding (including mediation or arbitration)relating to the Record Matters, Indemnitor agrees to notify First American In writing of any such matter as soon as practicable, but in no event later than seven(7)days from Indemnitor's being notified or becoming aware of such matter. 5.3. Rights and Obligations. Indemnitor acknowledges and agrees that First American has a duty of good faith to its insured under any Title Policy. Therefore,upon the filing of any action at law or in equity or the assertion of any claim, cause of action, or judicial or non-judicial proceeding relating to the Record Matters,or at any other time which First American deems It necessary to protect itself or Its insured under a Title Policy in light Revised)uly 1,2014 ©2014 First American Title Ins.Co. All Rights Reserved 4 of First American's duties, First American shall have the right, but not the obligation, (1)to take such action as First American deems necessary to protect its interests and those of its insured under any Title Policy, and/or(2) to require that Indemnitor,at Indemnitor's sole cost and expense,promptly do one or more of the following: (a) Cause a valid release of the Record Matters to be filed of record in the proper governmental office. (b) Cause to be recorded with respect to the Record Matters a bond releasing the Property from the effect of the Record Matters,should such bond be available and effective In removing the effect of such Record Matters from the Property as a matter of law. (c) In situations where affirmative legal action or proceedings at law or in equity are necessary to discharge,eliminate, or remove the Record Matters,cause counsel selected by First American to institute such action or proceeding as is necessary to discharge,eliminate or remove the Record Matters. Indemnitor may object to First American's choice of counsel for reasonable cause. Indemnitor agrees to cause such counsel to keep First American apprised as to the status of such action or proceeding, at no cost to First American. (d) If an action or proceeding concerning the Record Matters is instituted by a third party,cause such action or proceeding to be timely defended and resisted by counsel selected by First American,which counsel will protect First American and any and all insured(s)to whom First American may have potential liability as a result of the Record Matters. Indemnitor may object to First American's choice of counsel for reasonable cause. Indemnitor agrees to cause such counsel to keep First American apprised as to the status of such action or proceeding, at no cost to First American. (e) If the payment of a sum of money will discharge,eliminate, or remove the effect of the Record Matters as to the Property, pay such sum as Is sufficient to discharge,eliminate,or remove the Record Matters in a manner legally sufficient to effect the release of the Record Matters of record, and deliver documents evidencing such payment to First American, in a form satisfactory to First American. (f) Take such action with respect to the Record Matters as First American authorizes Indemnitor in writing to undertake, provided that any such authority shall not be a waiver by First American to require Indemnitor at any time to comply with the foregoing subparagraphs of this Paragraph above, within ten(10)days of First American's written revocation of authority to take action other than that under any other subparagraphs of this Paragraph, and demand that Indemnitor comply with any other subparagraphs of this Paragraph. Indemnitor covenants and agrees to cooperate with First American and to act diligently and in good faith In connection with First American's rights under this Paragraph 5.3. 5.4. Interest. Indemnitor agrees that any sums which are actually advanced or incurred by First American pursuant to this Agreement or by its exercise of any rights hereunder shall be repaid by Indemnitor to First American within ten(10) days of Indemnitor's receipt of First American's written demand therefor, together with interest thereon at four percent (4%) above the prime rate as published in the Wall Street Journal as of the date such sum was first advanced by First American,and continuing until it Is repaid in full, but in no event shall such rate of interest exceed the lesser of: (a) ten percent(10%) per annum, or (b)the maximum rate permitted by law in the State. 5.5. Determination of Coverage. Any determination of coverage by First American shall be conclusive evidence that the matter is within the Title Policy coverage as to the Record Matters for purposes of this Agreement. Indemnitor acknowledges and agrees that Indemnitor has no right to participate in First American's coverage decisions. If First American accepts the defense of a matter within the Title Policy as to the Record Matters with a reservation of rights, then all costs, damages,expenses,and legal fees actually Incurred by First American shall be deemed within the terms and obligations of Indemnitor under this Agreement even if the matter is subsequently determined by a court to not be within the Title Policy as to the Record Matters. 6. REMEDIES. Indemnitor specifically acknowledges that upon any default by any Indemnitor under this Agreement, First American shall have the right to exercise any and all remedies available at law, in equity, or under this Agreement against any, some, or all of the Indemnitors,including but not limited to Injunctive relief, specific performance, damages,self-help, and/or resort to any collateral held by First American to secure the obligations of Indemnitor under this Agreement, T. ¢IJBROGATION AND SUBORDINATION.Indemnitor hereby unconditionally grants to First American any and all rights of subrogation Indemnitor may have with respect to the Record Matters. Indemnitor agrees to Revised July 1,2014 ©2014 First American Title Xns.Co. All Rights Reserved 4SCi promptly execute any documents with respect to the Record Matters or any other matter relating to this Agreement requested by First American with respect to such right of subrogation and to deliver same to First American. Indemnitor hereby subordinates any and all debts owed to any one Indemnitor from any other Indemnitor to the obligations owed to First American under this Agreement. Indemnitor acknowledges and agrees that First American is subrogated under its Title Policy to any obligations of Indemnitor that may be owed to First American's insured under such Title Policy, and nothing in this Agreement modifies, amends, replaces, or supersedes First American's rights under its Title Policy. 8. FINANCIAL INFORMATION. 8.1. Representations and Warranties Regarding Financial Information. Each Indemnitor represents and warrants to First American as follows regarding the financial information delivered with respect to such Indemnitor: (a)such financial statements are true,complete, accurate, and correct in all material respects; (b) such finandal statements disclose all material financial information regarding Indemnitor; (c)such financial statements fairly and accurately present the financial condition and operations of Indemnitor; and(d)since the date of the financial statements as reflected thereon and the Effective Date, there has been no material adverse change in the financial condition of Indemnitor. 8.2. Covenants Regarding Financial Information. Should any Indemnitor be notified or become aware of any event which could be a material adverse change in the financial condition of such Indemnitor, then such Indemnitor shall provide written notice to First American as soon as practicable,but in no event later than seven (7) days after such Indemnitor is notified or becomes aware of such event, Upon request by First American,each Indemnitor further agrees to deliver to First American updated financial information. Each Indemnitor agrees that by delivery thereof,such Indemnitor shall be deemed to make all the same representations and warranties as to the updated financial information set forth above,except as otherwise disclosed In writing to First American concurrently with the delivery of the updated financial information. • 9. WAIVERS AND RELATED COVENANTS. In the event that Indemnitor is not the Property Owner, Indemnitor understands and agrees that First American has no obligation to secure an Indemnity from the Property Owner. Indemnitor agrees that the validity of this Agreement and the obligations of Indemnitor hereunder shall in no way be terminated,affected, limited,or impaired by reason of(a)the assertion by First American of any rights or remedies which it may have under any agreement or cause of action against any other Person(including but not limited to Property Owner); (b)First American's failure to exercise,or delay in exercising,any such right or remedy that First American may have against any other Person(including but not limited to Property Owner); (c) First American's failure to exercise, or delay in exercising,any right or remedy First American may have hereunder or in respect to this Agreement; (d)the commencement of a case under Title ii of the United States Code and/or any similar State insolvency or creditors' rights laws by or against any Person (including but not limited to Property Owner); or(e) Indemnitor's ownership interest in the Property or lack thereof. Indemnitor further covenants that this Agreement shall remain and continue In full force and effect as to any Title Policies issued at any time by First American with respect to the Property and that First American shall not be under a duty to protect, secure, or enforce any rights it may have under any indemnity agreement or any other right against any third party, and that other indulgences or forbearances may be granted under any or all of such documents, all of which may be made,done or permitted without notice to, or further consent of, Indemnitor. First American may,at its option, proceed directly and at once,without notice,against any Indemnitor to collect and recover the full amount of the liability hereunder or any portion thereof,without proceeding against the Property Owner or any other Person. Indemnitor hereby waives and relinquishes(f)any right or claim of right to cause a marshaling of any Indemnitor's assets; (g)all rights and remedies accorded by applicable law to indemnitors or guarantors,except any rights of subrogation which Indemnitor may have, provided that the assurances and obligations provided for hereunder shall not be contingent upon the existence of any such rights of subrogation; (h) notice of acceptance hereof and.of any action taken or omitted in reliance hereon; (I)presentment for payment, demand of payment, protest or notice of nonpayment or failure to perform or observe,or other proof,or notice or demand; 0)any defense based upon an election of remedies by First American, including without limitation an election to proceed in a manner which has impaired, eliminated or otherwise destroyed Indemnitor's rights of subrogation and reimbursement, if any, against the Property Owner or any third party; (k) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor In other respects more burdensome than that of the principal; (I)the defense of the statute of limitations in any action hereunder or in any action for the collection or performance of any obligations covered by this Agreement; (m)and any duty on the part of First American to disclose to Indemnitor any facts First American may now or hereafter know about the Property Owner, since Indemnitor acknowledges that Indemnitor is fully responsible for being and keeping Informed of the financial condition of the Revised July 1,2014 )2014 First American Title Ins.Ce, All Rights Reserved 40 i Anansmer ,aim Property Owner and of all circumstances bearing on the risk of nonperformance of any obligations covered by this Agreement. 10, NOTICE. Any notices,demands or communications under this Agreement between Indemnitor and First American shall be in writing,shall include the Reference Information, and may be given either by commercial overnight delivery service, or by mailing via first-class United States certified mail,postage prepaid,return receipt requested. Any such notice,demand, or communication must be addressed to each party as set forth on the signature page of this Agreement. If the address for First American is not completed on the signature page, notice to First American shall be given to First American's office for the State. All notices given in accordance with the requirements in this Paragraph shall be deemed to be received as of the earlier of(a)actual receipt by the addressee thereof,or(b)the expiration of five(5)business days after depositing same with the commercial overnight delivery carrier or the United States Postal System, as applicable. 11. MISCELLANEOUS. 11.1. No Waiver. No delay, error,or omission by First American in exercising any right or power under this Agreement shall impair any such right or power or be construed as a waiver thereof. A waiver by First American of a breach of any of the covenants, agreements, restrictions,obligations,or conditions of this Agreement with respect to the Indemnitor shall not be construed as a waiver of any succeeding breach of the same or other . covenants, agreements, restrictions, obligations or conditions under this Agreement. No waiver of any of First American's rights or powers under this Agreement is effective unless in writing and executed by First American. 11.2. No Third Party Beneficiaries. This Agreement is only between Indemnitor and First American,and is not intended to be, nor shall it be construed as being, for the benefit of any third party, 11.3. Partial Invalidity. If any term, provision, condition,or covenant of this Agreement or the application thereof to any party or circumstance is held Invalid or unenforceable to any extent, the remainder of this Agreement, or the application of such term, provision,condition,or covenant to persons or circumstances other than those as to whom or which it is held invalid or unenforceable, will not be affected thereby, and each term and provision of this Agreement will be valid and enforceable to the fullest extent permitted by law. 11.4. Modification or Amendment, Any alteration,change, modification,amendment, or supplement to this Agreement or any documents incorporated herein,in order to become effective,can only be made by written instrument executed by all parties hereto. 11.5. Execution in Counterpart. This Agreement and any alteration, change, modification, amendment or supplement to this Agreement may be executed by Indemnitor in several counterparts, and as so executed,will constitute one agreement binding on all Indemnitors, notwithstanding that all Indemnitors are not signatories to the original or the same counterpart. Any signature page may be detached from its counterpart and attached to another counterpart so as to form one complete document. Counterparts executed and delivered by electronic means, including but not limited to facsimile or portable document format(PDF),shall be fully effective and binding and shall constitute originals. 11.6. Qualification:Authority. Each natural person executing this Agreement on behalf of an Indemnitor which is an artificial person represents,warrants,and covenants to First American that(a)such artificial person is duly formed, in good standing, and authorized to do business in the State, (b)such natural person is duly authorized to execute and deliver this Agreement on behalf of such artificial person in accordance with authority granted under the organizational documents of such artificial person,and(c)such artificial person is bound under the terms of this Agreement. 11.7. Merger of Prior Agreements and Understandings, This Agreement and other documents Incorporated herein by reference contain the entire understanding and agreement between the parties relating to the obligations of the parties with respect to the Record Matters, and all prior or contemporaneous agreements, understandings, representations,warranties, and statements,whether oral or written,shall be of no force or effect. 11.8. Jurisdiction and Venue. Indemnitor hereby submits to the personal jurisdiction of any state or federal court of First American's choosing having subject matter jurisdiction with respect to this Agreement,and Indemnitor waives any objection to venue therein should any action at law or in equity be necessary to enforce or interpret this Agreement. If any action at law or in equity is necessary to enforce or interpret this Agreement, Revised July 1,2014 ©2014 First American Title Ins.Co. All Rights Reserved 45. mommimasionairmassmiam then the prevailing party in such action shall be entitled to recover from the other party the prevailing party's actual attorneys'fees and other expenses Incurred in connection with such action or proceeding in addition to its actual court costs. 11,9. Other, This Agreement Is to be interpreted according to the laws of the State and is to be construed according to its fair meaning. AU parties contributed materially to the preparation and negotiation of this Agreement,and this Agreement is not to be construed against any party. Titles and captions in this Agreement are for convenience only and are not part of the substance of this Agreement. The introduction,recitals,and Reference Information set forth hereinabove are all incorporated into this Agreement as material and essential terms of this Agreement. As used in this Agreement,masculine, feminine or neuter gender and the singular or plural number will each be deemed to include the others wherever and whenever the context so dictates. This Agreement inures to the benefit of and binds the personal representatives,successors, heirs, and assigns of the parties hereto. 12. SECURITY. Indemnitor has provided or will provide security for this Agreement to First American as follows: [ X ] None at this time [ ] Letter of Credit Agreement w/ Sight Draft [ ] Security Agreement* (Cash) [ ] Control Agreement [ ] Security Agreement* (Non-Cash) [ ] Deed of Trust/ Mortgage / Security Deed [ ] Security Agreement** (Other) [ ] Other: (Note:If security is to be taken, additional forms must be executed. Please be advised that additional documents may be needed to perfect a security Interest, Please follow directions on said forms as to additional requirements or consult your local underwriter.) A breach by an obligor, piedgor or debtor under any of the foregoing documents as well as any documents which may be referenced in such documents shall be deemed a breach by Indemnitor under this Agreement. Unless otherwise agreed in writing, any sums held by First American as security may be held by First American in its general accounts and not deposited into an interest bearing account. Indemnitor understands that as a result of maintaining its accounts with a financial institution and its on-going banking relationship with the specific financial Institution, First American may receive certain financial benefits such as an array of bank services, accommodations,loans or other business transactions from the financial institution ("collateral benefits"). Indemnitor agrees that any and all such collateral benefits belong solely to First American and First American has no obligation to account to Indemnitor for the value of any such collateral benefits. If the funds are deposited into a special interest bearing account, all such interest will be added to and retained in the account as part of the security for First American. Any such interest earned will be attributed for tax purposes to the Indemnitor depositing same. 13. ESTOPPEL. NOTWITHSTANDING ANY POSSIBLE DIFFERENCE IN THE PARITY OF THE PARTIES HERETO, INDEMNITOR UNDERSTANDS THAT FIRST AMERICAN IS UNDERTAKING A RISK SIGNIFICANTLY GREATER THAN THAT UNDERTAKEN IN THE NORMAL COURSE OF PROVIDING TITLE INSURANCE POLICIES AND RELATED SERVICES BY ENTERING INTO THIS AGREEMENT AND ISSUING POLICIES OF TITLE INSURANCE IN RELIANCE ON THIS AGREEMENT AND EACH AND EVERY ONE OF THE COVENANTS,AGREEMENTS,REPRESENTATIONS,AND WARRANTIES OF INDEMNITOR CONTAINED HEREIN. THEREFORE,INDEMNITOR HEREBY DECLARES ITS WILLINGNESS TO ENTER INTO THIS AGREEMENT AND TO INDUCE FIRST AMERICAN TO ACCEPT THIS AGREEMENT, REALIZING THAT INDEMNITOR'S BEST INTEREST,IN THE OPINION OF INDEMNITOR, IS BEING SERVED THEREBY. [Signature page follows] *Requires a UCC Financing Statement to be executed and flied. **May require a UCC Financing Statement to be executed and flied. • Revised July 1,2014 et 2014 First American Title Ins.Co. MI Rights Reserved File number: NHSC-4894052,etal NOTICE: THIS AGREEMENT CONTAINS PROVISIONS WHICH PERSONALLY OBLIGATE INDEMNITOR. IT IS STRONGLY RECOMMENDED THAT INDEMNITOR CONSULT LEGAL COUNSEL PRIOR TO EXECUTING THIS AGREEMENT. INDEMNITOR: The City of Cathedral City By its Social Security or Tax I j . No. Social Security or Tax T.D. No. Tax Payer Name: Tax Payer Name: Notice Address:,Cathedral City,CA Notice Address: Revised July 1,2014 ©2014 First American Title Ins.Co. All Rights Reserved EXHIBIT A DESCRIPTION OF PROPERTY File Number: NHSC-4894052 • Street address:,Cathedral City,CA • Legal description: PARCEL F, IN THE CITY OF CATHEDRAL CITY,COUNTY OF RIVERSIDE, STATE OF CALIFORNIA,AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO.04-402 RECORDED ON MARCH 11, 2005 AS DOCUMENT NO. 2005-0197074 OF OFFICIAL RECORDS,IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THE EASTERLY 6.50 FEET OF PARCEL H AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO.04-409, RECORDED MARCH 11,2005 AS INSTRUMENT NO. 2005-0197075,OF OFFICIAL RECORDS,IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE EASTERLY 13.00 FEET OF PARCEL F AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO.04-402 RECORDED ON MARCH 11,2005 AS INSTRUMENT NO. 2005-0197074 OF OFFICIAL RECORDS,IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. SAID DESCRIPTION IS PURSUANT TO PARCEL 3 OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2005-431 RECORDED AUGUST 03, 2006 AS INSTRUMENT NO.2006-0569754 OF OFFICIAL RECORDS. Revised July 1,2019 ©2014 First American Title Ins,Co. All Rights Reserved Asexamormatimissumussum EXHIBIT A DESCRIPTION.OF PROPERTY File Number: NHSC-4894089 • Street address: ,Cathedral City,CA • Legal description: PARCEL 1 OF PARCEL MAP 34148, IN THE CITY OF CATHEDRAL CITY,COUNTY OF RIVERSIDE, STATE OF CALIFORNIA,AS SHOWN ON THE MAP RECORDED IN BOOK 220, PAGES 8 THROUGH 10, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. • • Revised July 1,2014 Q 2014 First American Title Ins.Co. All Rights Reserved �1 EXHIBIT B DESCRIPTION OF RECORD MATTERS File Number: NHSC-4894052 2. General and special taxes and assessments for the fiscal year 2014-2015. First Installment: $836.00, DELINQUENT Penalty: $83,60 Second Installment: $836.00, DELINQUENT Penalty: $122.20 Tax Rate Area: 019-061 A. P.No.: 677-551-032-8 3. The lien of defaulted taxes for the fiscal year 2009-2010, and any subsequent delinquencies. Tax Rate Area: 019-061 A. P. No.: 677-551-032-8 Amount to redeem: $7,959.51 Valid through: May 31, 2015 Amount to redeem: $8,034.16 Valid through: June 30, 2015 Revised July 1,2014 0 2014 First American Title Ins.Co. ` All Rights Reserved V AVM EXHIBIT B DESCRIPTION OF RECORD MATTERS File Number: NHSC-4894089 • 2, General and special taxes and assessments for the fiscal year 2014-2015. First Installment: $134,385,05,DELINQUENT Penalty: $13,438.51 Second Installment: $134,385.05,DELINQUENT Penalty: $13,477.11 Tax Rate Area: 019-061 A.P.No.: 677-050-031-9 3. The lien of defaulted taxes for the fiscal year 2008-2009, and any subsequent delinquencies. Tax Rate Area: 019-061 A. P.No.: 677-050-031-9 Amount to redeem: $962,502.92 Valid through: May 31,2015 Amount to redeem: $972,353.57 Valid through: June 30,2015 Revised July 1,2014 p 2014 First American Title Ins.Co. All Rights Reserved 4si EXHIBIT A DESCRIPTION OF PROPERTY File Number:NHSC-4894097 • Street address: , Cathedral City, CA • Legal descriptions PARCEL 2 OF PARCEL MAP 34148,IN THE CITY OF CATHEDRAL CITY,COUNTY OF RIVERSIDE, STATE OF CALIFORNIA,AS SHOWN ON THE MAP RECORDED IN BOOK 220, PAGES 8 THROUGH 10, INCLUSIVE OF PARCEL MAPS,IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. • Revised July 1,2014 ©2014 First American Title Ins.Co. Aif Rights Reserved t EXHIBIT B DESCRIPTION OF RECORD MATTERS File Number;NHSC-4894097 2. General and special taxes and assessments for the fiscal year 2014-2015. First Installment: $91,072,34,DELINQUENT Penalty: $9,107.23 Second Installment: $91,072.34, DELINQUENT Penalty: $9,145.83 Tax Rate Area: 019-061 A.P.No.: 677-050-032-0 3. The lien of defaulted taxes for the fiscal year 2008-2009, and any subsequent delinquencies. Tax Rate Area: 019-061 A. P.No.: 677-050-032-0 Amount to redeem: $652,403.11 Valid through: May 31, 2015 Amount to redeem: $659,078.16 Valid through: June 30, 2015 Revised July 1,2014 ©2014 First American Title Its.Co. All Rights Reserved m AMMO EXHIBIT A DESCRIPTION OF PROPERTY File Number: NHSC-4894117 • Street address:,Cathedral City,CA • Legal description; • PARCEL 4 OF PARCEL MAP 34148,IN THE CITY OF CATHEDRAL CITY,COUNTY OF RIVERSIDE, STATE OF CALIFORNIA,AS SHOWN ON THE MAP RECORDED IN BOOK 220, PAGES 8 THROUGH 10, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. • Revised?Lily 1,2014 O 201.4 First American Title Ins.Co, /ir n All Rights Reserved EXHIBIT B, DESCRIPTION OF RECORD MATTERS File Number: NtfSC-4894117 2, General and special taxes and assessments for the fiscal year 2014-2015. First Installment: $79,256,03,DELINQUENT Penalty: $7,925.60 Second Installment: $79,256.03,DELINQUENT Penalty: $7,963.10 Tax Rate Area: 019-061 A, P. No.: 677-050-034-2 3. The lien of defaulted taxes for the fiscal year 2008-2009, and any subsequent delinquencies. Tax Rate Area: 019-061 A,P.No.: 677-050-034-2 Amount to redeem: $567,807.03 Valid through: May 31,2015 Amount to redeem: $573,615.76 Valid through: June 30,2015 Revised July 1,2014 ®2014 first American Title Ins,Co, All Rights Reserved EXHIBIT "A" CITY ACQUIRED PROPERTIES Real property in the City of Cathedral City, County of Riverside, State of California, described as follows: PARCELS 1 THROUGH 4, INCLUSIVE, OF PARCEL MAP 34148, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN ON THE MAP RECORDED IN BOOK 220, PAGES 8 THROUGH 10, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. APN: 677-050--031-9, 677-050-032-0, 677-050-033-1, 677-050-034-2 PARCEL A OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2006-434; RECORDED SEPTEMBER 29, 2006 AS INSTRUMENT NO. 2006- 0720930 OF OFFICIAL RECORDS, BEING A PORTION OF LOT 273 OF TRACT 28639, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY MAP RECORDED IN BOOK 300, PAGES 53 THROUGH 66, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY, CALIFORNIA. EXCEPT THEREFROM THAT PORTION DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE SOUTHERLY LINE OF SAID LOT 273 WITH THE CENTERLINE OF RIO GUADALUPE ROAD, AS SHOWN ON SAID TRACT NO. 28639-1 ; THENCE NORTHERLY ALONG THE WEST LINE OF SAID LOT 273, NORTH 00° 08' 10" EAST, 148.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE PARALLEL WITH THE CENTERLINE OF RIO ROSALIA DRIVE AS SHOWN ON SAID TRACT NO. 28639-1, SOUTH 89° 51' 50" EAST, 1,356.00 FEET; THENCE ALONG THE EASTERLY LINE OF SAID LOT 273, NORTH 00° 08' 10" EAST, 139.53 FEET; THENCE ALONG THE NORTHERLY LINE OF SAID LOT 273, SOUTH 89° 46' 13" WEST, 1,356.03 FEET; THENCE ALONG SAID WEST LINE OF LOT 273, SOUTH 00° 08' 10" WEST, 130.87 FEET TO THE TRUE POINT OF BEGINNING. APN: 677-050-027-6 4 ? ALL THAT PORTION OF THE WEST ONE-HALF OF THE NORTH ONE-HALF OF FRACTIONAL SECTION 5, TOWNSHIP 4 SOUTH, RANGE 5 EAST, SAN BERNARDINO BASE AND MERIDIAN, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF, SHOWN AND DESIGNATED AS "REMAINDER PARCEL" ON PARCEL MAP NO. 34148 RECORDED IN BOOK 220, PAGES 8 THROUGH 10 INCLUSIVE OF PARCEL MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. APN: 677-050-029-8 LOT 65 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THE WESTERLY 4.50 FEET OF LOT 66 OF SAID TRACT NO. 28639-1 . SAID DESCRIPTION IS MADE PURSUANT TO THAT CERTAIN CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-400 RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 197072 AND RE-RECORDED APRIL 15, 2005 AS INSTRUMENT NO. 2005-297757 BOTH OF OFFICIAL RECORDS. APN: 667-551-027-4 LOT 2 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE WESTERLY 19.38 FEET OF LOT 2 OF SAID TRACT NO. 28639-1 . TOGETHER WITH THE WESTERLY 19.38 FEET OF LOT 1 OF SAID TRACT NO. 28639-1 . SAID DESCRIPTION IS PURSUANT TO PARCEL B OF CERTIFICATE OF COMPLIANCE RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 197073 OF OFFICIAL RECORDS. APN: h6Ct LOT 8 OF TRACT NO. 28639-1 , IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THE WESTERLY 11.38 FEET OF PARCEL "G" AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402, RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005-197074 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. SAID DESCRIPTION IS PURSUANT TO PARCEL 1 OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2004-409, RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 0197075 OF OFFICIAL RECORDS. APN: 677-551-025-2 LOT 66 OF TRACT NO. 28639-1 , IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 THROUGH 66, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE WESTERLY 4.50 FEET OF LOT 66 OF SAID TRACT NO. 28639-1. TOGETHER WITH THE WESTERLY 21 .25 FEET OF LOT 67 OF SAID TRACT NO. 28639-1 . SAID DESCRIPTION IS PURSUANT TO PARCEL B OF CERTIFICATE OF COMPLIANCE LOT LINE ADJUSTMENT NO. 2004-400 RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005-197072 AND RE-RECORDED APRIL 15, 2005 AS INSTRUMENT NO. 2005-297757 BOTH OF OFFICIAL RECORDS. APN: 677-551-028-5 LOTS 67 AND 68 OF TRACT NO. 28639-1, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 300, PAGES 53 TO 66, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE WESTERLY 21.25 FEET OF LOT 67 OF SAID TRACT NO. 28639-1 . SAID DESCRIPTION IS PURSUANT TO PARCEL A OF CERTIFICATE OF COMPLIANCE, LOT LINE ADJUSTMENT NO. 2004-400 RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005-0197072 AND RE-RECORDED APRIL 15, 2005 AS INSTRUMENT NO. 2005-0297757, BOTH OF OFFICIAL RECORDS. APN: 677-551-029-6 4r PARCEL E, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402 RECORDED ON MARCH 11, 2005 AS DOCUMENT NO. 2005-0197074 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THE EASTERLY 6.50 FEET OF PARCEL E AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402 RECORDED ON MARCH 11, 2005 AS INSTRUMENT NO. 2005-0197074 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THE EASTERLY 13.00 FEET OF PARCEL F AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-402, RECORDED MARCH 11, 2005 AS INSTRUMENT NO. 2005- 0197074, OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. SAID DESCRIPTION IS PURSUANT TO PARCEL 2 OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2005-431 RECORDED AUGUST 03, 2006 AS INSTRUMENT NO, 2006-0569754 OF OFFICIAL RECORDS. APN: 677-551-031-7 PARCEL H, IN THE CITY OF CATHEDRAL CITY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-409 RECORDED ON MARCH 11 , 2005 AS INSTRUMENT NO. 2005-0197075 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPTING THEREFROM THE EASTERLY 6.50 FEET OF PARCEL H AS DESCRIBED IN CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 04-409 RECORDED ON MARCH 11, 2005 AS INSTRUMENT NO. 2005- 0197075 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. SAID DESCRIPTION IS PURSUANT TO PARCEL 4 OF CERTIFICATE OF COMPLIANCE FOR LOT LINE ADJUSTMENT NO. 2005-431 RECORDED AUGUST 03, 2006 AS INSTRUMENT NO. 2006-0569754 OF OFFICIAL RECORDS. APN: 677-551-033-9 AO EXHIBIT "A" CASSIA, SOL & VERANO DELINQUENT CFD 2000-1 CASSIA PROPERTY: Lots 72, 191 through 217, inclusive, 238 through 261, inclusive & 270 of Tract No. 28639-1, AS SHOWN BY MAP ON FILE IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA VERANO PROPERTIES: Lots 275, 276, 277 & 293 of Tract No. 28639-1, AS SHOWN BY MAP ON FILE IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA SOL PROPERTY: Lot 289 of Tract No. 28639-1, AS SHOWN BY MAP ON FILE IN BOOK 300, PAGE 53 THROUGH 66 OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA PURCHASE AND PERFORMANCE AGREEMENT (Verano Recovery, LLC-Cathedral City) I Exhibit"L" ROAD EASEMENT TO OFFSITE RESERVOIR SITE (located on file in the City Clerk's Office of the City of Cathedral City, California) I i&IEN RECORDED NAIL TO: Ea +Security Pacific Hank 114 L#1 , P. V, Dcr RrS ' Palm Spricass, CA 922G3 r«,�Q Attn: Sealy Sullivan: $ , 3 P G�! '- 3Ft? ^"(.++ R .TRH r e t ,.T. Tt n i1 s s j I -n"-ir(= re fro'd. nn urrnnrri Pd ;Y 0...rt e.. 11'"1 Pr eve. Ft -cants,''S.. 7 i T oi"s' hereby. irr evoksehiy ded i Cate to reroretni.ty for use es n rrivate coati, T ennins thereby us$ by the or•nars of edincent lend to . n rossd from bate Faln Drive-to Faction '12.their ernrioyoes, dtrli`cress, and visitors. the real- oronerty in the County of °iversitae.cioreribed +• Ar fella:S: - sr The' south forty feet. of the .FE SE Fend the South forty feet esf the E3.-SWIISL?i, both of Section 33. Township 3 south. "•ar-ae .�: '. n:rtA,3111:1- . :• helnp hl-so known es Assessors parcels Aemmhered i•60-?o0-01.3 and nit. withthe provision thnt the oil. f-nr, :entt ninerse2 rirhts sere reserved for no send my heirs. '�t J r � +ce- c,G DR i'o d e�e / l_El�_ _ _ `?°'ATP: OF C.ALII'Q`U'IA •-s COUNTY Cr}' s' niele• - On „t9Nc r Ars4c"r- /dr 4/ . before me. the underris-nod, V. - Notery Public in and for said (`ounty end !-'tnt.e.ncrsornily lnr- -Ii rBsered ig'.a.�,n e_ �__.41a('7'.-•-Y __ . -` +�'t knt?An Tn no to be the narsor whosse nsme is ri:hrc.rihod to the within 4 nctrumont arri _nC knovled4sed the r /. _ she eseeuted the sems. . /Ty: -/1 . .T.�.M1aK .^ my heart end orfieinl reel . -- ____�_ ---._----- ___ _ Vii,, OFFICIAL SEAL• anr` ':' JACK H PORTER. . ni:` ttocwrt utter. .c.►usotnew �.K1.°;;~ LOS ARO;LES COMM ' Mr town, e9lotfee I L WO J-- • 101110 Sarni Istessa,a Moray q■riles • • WHEN RECORDED MAIL TO: '7 Security Pacific Hank 32 P. Q. Drawer R • il es, II . .r. Palm Springs, CA 92263 • 4 ATTN: Emily Sullivan Ell f OW a{ 1 , PM ; e,8., m 3s" F �a t'f 3 DACLARAIION CF LED:CATION < s I. Martha J. Cheney, an unmarried woman ' Fe-Fail Viii--e`vacaLly-lei]1<.e 4ea iii'pei pe i iiy-`or .:Whit ic.ro�iec---- z purposes, including pup31c utllity and public et:rvice uses". 1Q the real prceccrty In the County ct,Pivcrelde,doccrIbed as follows' The south 40 feet of Parcel 39,. Book F�9, Pafe'23( , of Aeaea.cora tra. w maps for Riverside County,California,1 'and being also described a�IsS an the Routh 40 feet of the southwest quarter of the southwest quarter of the southwest quarter of Section '14, Township "I South, "'= R.anpe a Rest SABl1.11,of Riverside r'ounty.California.,lyinf► west of L. Date Palm Drive,tetween Date Palm Drive and the aeetion line ., a distance of 207.60 feet. . ` 4s.• . K i J • • • Dated: No. 1441A1 I STA7t Ol CAL:FO1*NTA y)• <th • sa - a e- dev PP/ . we R... the utden _d i!N*a.y Pulc A+aatf � +fo FA i awn end State, prnunaur & pod / , r OFFICIAL.SEAL + .._._ • — 4, :v. .SACK WILBANKS • known to one to be tho ..,„ex.':'1` NOTARY Mel= cOWtW tHA pc,ann_.whow n:w,e—�__ �;? .if •WSAN6nacousin subsetibed the_within metemarnt mall uakatooir3ryd *Ay swim AM 1. ISO • that 1✓rr^c" eeveuted the tame. t WZTNE$$sty hand and *Metal seal. t e...A,. i I 4(019 . ...TO: — . .. . , . :' ," ?...,,, •.' . . WRSTI.RECORDE, D HAL ll f . . • :40 ..Il ,.. 1. Security-Pacific Bank Sit . . .., -. .'•-P. 0. Orawer R . . Pah* Sprints, CA 92263 Er,1 •••• . : ..=;. ,, AWN z Sealy Sullivan c+ -414 AT co 1.. .: - i ; . .. .. . • . -- .., . . .... .1.. . DXCLARATiON CF DED:CATION . . .-.. Ct. • - .Rn..oe,rr9e.tw,i.v _i 2r.0re__v:or_acga.k.naty 4 kr.er4,,11t1.ft C iell t.•...3 8 2 V3$4 1 .KftrasliructprIZatriclua..,Farise. 270 perpetuity z-or •:,ub.s.lc road purposes, including gr.,:lic,utillty and public screlos uses,. the re•1 pro -.krt., in the County of;P:Awareide,d tit c rated as I"011eve 8 t , tike south 40 feet of the EINSIEtS91* Sac. 33.*PS..R 51M .R Iv er-side Cpurity. C8 tirOVVVia. also known as Parcel 66ozz 390-oo7 s Assessors -. - --‘ -- RArd oz-cts..R 1..v ere idle Countycalifornla. I ` -V:-1`J- .... ......- -- : •-•C.:,=- . - . Bi .t ,... . „ - Ei t.-..743 , • Z...! •ra - 'kV i'•••!6 , . .. , . . . . • -7 . . . . •.. . - - . . . . - . .- . . . . . . . . -. • . -'.•-• ., . . f .. , .. . - - . --- • ..., • . . .. . . , . . . . .. • . Daces!: tuov.3 0. 1911 ' ,. . 4 ' . . . . . . . . ciijvro or ckuroanzA. 1 • - s. . couNnt or Ri.„„ei.siciel. ss. , —-4-- 1 • , . Nov. 30, 1981 oft ' x ellakr.aterttna""tesia.Ketiia44°-4aseic-I" "led . ' A ' _I-Inrest+v,y Weinstein end . !....;,..,, orsict.0.1.sitila. .....,...e..0..........c..A........a..,........e......4......1 , .,,,i,x,,,.„11%. ttouurvutunuouett.c:Scre.extolsoutaw - ' -4.''n2 ItNtritSKIC , uhr=uvro zr.,111624.0 pi,e7ran,74:voinarxtseete..-,."...-- '. Kfr twzw..7.164:Writ.air ' that they - - aarrated di* SWORE. leVn1411111111114P limed and dada&end. -or - /7 , . • ' -4t- ." -:%-)eteee:"Pi . - . . ..s. . ..- 'A-- I . .. I . _ 4{P. Os t WHEN RECORDED HAIL TO • ..,, ‘ .'1 . i . ' ", re'5. Security Pacific Bank $k.• csa4m ' P. O. Drawer R : v.f R Palm Springs, CA 92263 ,r a � es ATMs Emily Sullivan • �+g 7 ...— g tz' I v • DhCL..nR$ZION CF D.B:L.CA^ION « Har tt - o..-o.-Z-rsl1.Xtr trrb..�+n. Anc.eles.J'a .9O R 4 ereby .irrcvoceiblyy cetee in perpetuity for .:ublic road bo purposes, including nuzlic utility and public scrvioe uses, g* the real property in the County of;Riseraide,uaucr:tbed se to110-we: the south 40 feet of the Y/i-SWiSEt ^ee.*33.T3S.R5E,sE y,aiso known an assessors parcel No. 660-390-012, arid also ,iii • • the south t-O feet of the ti*SE.S11 sec. 33. T35•.RSE,SDB&M.aiso • known as Parcel 660-390-00 ,both in Ri.ver_side County,California 8 g a - - 2i - • . t w i-' _.W ii:3 - i a . X R ti Dated: _17/T/1.'• 19011 .STATE OF CALtFO/012\ a COUNTY OF . i SS. • ' l.mc. 11w uedentysac, a Notary ry iuhU aa( . v - bo 1/ : .4 - en d ,> ts, .pp.weed r; ; --- •-1 -• - - - .- -% ' - _ -n to me to he the oesnt__whote e.L i s tttreo. the wAl in louou not and lr it _' �1s NORMLOPEZ • WrrNESS wt hand asee. he �t ewrwn �,r•eAtxae.ra Y OFtTCE w _ �rafR, IOSAtytpet rgln ::Ar t • tio MY moutoon Etp lune 11 1982 - •,� -.-.ice/ � I 4tkid