HomeMy WebLinkAboutRecorded Doc 2021-062 4 C-iw-
DOC # 2021-0189516
• Recording Requested By: 03/25/2021 02:46 PM Fees: S0.00
First American Title insurance Company Page 1 of 9
National Commercial Services,Ontario,CA Recorded in Official Records
County of Riverside
1" J Peter Aldana
Recording Requested by Assessor-County Clerk-Recorder
and when Recorded, return to:
Cityof Cathedral City "This document was electronically submitted
to the County of Riverside for recording"
68-700 Avenida Lalo Guerrero Receipted by: MARY#420
Cathedral City, CA 92234
Attention: City Clerk
EXEMPT FROM RECORDING FEES PER
GOVERNMENT CODE§§6103,27383
(SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE)
MEMORANDUM OF OPTION
(Public Purpose Parcels)
This Memorandum of Option (this "Memorandum"), dated as of March 1, 2021, is
entered into by and between the City of Cathedral City, a municipal corporation, ("City")
and A0685 Cathedral City, L.P., a California limited partnership ("Developer"). City and
Developer are hereinafter collectively referred to as the "Parties."
1. Disposition and Development Agreement. Pursuant to that certain Disposition,
Development, and Grant Agreement (the "Agreement") dated as of December 4, 2018,
executed by and among the City, acting in its capacity as the Housing Successor Agency to
the former Redevelopment Agency of the City of Cathedral City (in such capacity referred
to herein as "Agency"), Urban Housing Communities, LLC, a California limited liability
company ("UHC"), and lkaika Ohana, a Hawaii nonprofit corporation, and recorded in the
Official Records of Riverside County ("Official Records") on December 11, 2018 as
Document No. 2018-0481937, the Agency has agreed to convey to Developer (as
successor to UHC under the Agreement), and Developer has agreed to develop, certain
real property consisting of ten (10) vacant parcels located on Landau Avenue between
Vega Road and Elizabeth Road, in the City of Cathedral City, California, known as
Riverside County Assessor's Parcel Nos. 678-060-001, -002, -003, -004, -005, -049, -050, -
051, -052, and -053 (collectively, the "Property"). A memorandum of the Agreement will be
recorded in the Official Records of Riverside County ("Official Records") substantially
concurrently herewith.
2. City Option to Purchase Public Purpose Parcels. In accordance with Section 3.1.1
of the Agreement, Developer hereby grants to City an option (the "Option") to purchase
parcels 678-060-053 and 678-060-051 (as more particularly described in Exhibit A attached
hereto and incorporated herein by this reference, the ""Public Purpose Parcels") upon the
terms and conditions set forth herein.
3. Terms. If Developer determines that the Public Purpose Parcels are not necessary
for development of the Project (as defined in the Agreement), and the Public Purpose
Parcels are excluded from the final site development plan submitted to City for the Project,
the City shall have the option to purchase the Public Purpose Parcels for the price of One
Dollar ($1.00). The Option shall expire on the earlier of (i) the first anniversary of the Close
of Escrow for conveyance of the Property to Developer, and (ii) the first anniversary of the
OAK 114834-9774-2700 v4 1
Recording Requested By:
• First American Title Insurance Company
National Commercial Services,Ontario,CA
NcS-513'
Recording Requested by
and when Recorded, return to:
City of Cathedral City
68-700 Avenida Lalo Guerrero
Cathedral City, CA 92234
Attention: City Clerk
EXEMPT FROM RECORDING FEES PER
GOVERNMENT CODE§§6103,27383
(SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE)
MEMORANDUM OF OPTION
(Public Purpose Parcels)
This Memorandum of Option (this "Memorandum"), dated as of March 1, 2021, is
entered into by and between the City of Cathedral City, a municipal corporation, ("City")
and A0685 Cathedral City, L.P., a California limited partnership ("Developer"). City and
Developer are hereinafter collectively referred to as the "Parties."
1. Disposition and Development Agreement. Pursuant to that certain Disposition,
Development, and Grant Agreement (the "Agreement") dated as of December 4, 2018,
executed by and among the City, acting in its capacity as the Housing Successor Agency to
the former Redevelopment Agency of the City of Cathedral City (in such capacity referred
to herein as "Agency"), Urban Housing Communities, LLC, a California limited liability
company ("UHC"), and Ikaika Ohana, a Hawaii nonprofit corporation, and recorded in the
Official Records of Riverside County ("Official Records") on December 11, 2018 as
Document No. 2018-0481937, the Agency has agreed to convey to Developer (as
successor to UHC under the Agreement), and Developer has agreed to develop, certain
real property consisting of ten (10) vacant parcels located on Landau Avenue between
Vega Road and Elizabeth Road, in the City of Cathedral City, California, known as
Riverside County Assessor's Parcel Nos. 678-060-001, -002, -003, -004, -005, -049, -050, -
051, -052, and -053 (collectively, the "Property"). A memorandum of the Agreement will be
recorded in the Official Records of Riverside County ("Official Records") substantially
concurrently herewith.
2. City Option to Purchase Public Purpose Parcels. In accordance with Section 3.1.1
of the Agreement, Developer hereby grants to City an option (the "Option") to purchase
parcels 678-060-053 and 678-060-051 (as more particularly described in Exhibit A attached
hereto and incorporated herein by this reference, the ""Public Purpose Parcels") upon the
terms and conditions set forth herein.
3. Terms. If Developer determines that the Public Purpose Parcels are not necessary
for development of the Project (as defined in the Agreement), and the Public Purpose
Parcels are excluded from the final site development plan submitted to City for the Project,
the City shall have the option to purchase the Public Purpose Parcels for the price of One
Dollar ($1.00). The Option shall expire on the earlier of (i) the first anniversary of the Close
of Escrow for conveyance of the Property to Developer, and (ii) the first anniversary of the
OAK#4834-9774-2700 v4 1
date that this Memorandum is recorded in the Official Records. If City exercises the Option,
Developer shall convey the Public Purpose Parcels to City by grant deed, and escrow shall
close for conveyance of the Public Purpose Parcels within sixty (60) days following City's
delivery of written notice of exercise of the Option. All title and escrow fees and charges
incurred in connection with conveyance of the Public Purpose Parcels to City shall be paid
by City.
4. Agreement Controls. The Parties have executed and recorded this instrument to
give notice of the Option. This Memorandum is solely for recording purposes and shall not
be construed to alter, modify, amend or supplement the Agreement. In the event of any
inconsistency between this Memorandum and the Agreement, the Agreement shall control.
5. Interpretation; Counterparts. This Memorandum shall be interpreted and enforced in
accordance with California law without regard to principles of conflict of laws. This
Memorandum may be executed in counterparts, each of which shall be an original and all
of which together shall constitute one instrument.
6. Binding Effect. The Agreement shall bind and inure to the benefit of the Parties and
their a res iv
pct a successors and assigns.
SIGNATURES ON FOLLOWING PAGE
OAK#4834-9774-2700 v4 2
IN WITNESS WHEREOF, the Parties hereto have executed this Memorandum
as of the date first set forth above.
CITY:
City • -dral Ci , a unici•al corporation
Print Name: V LACCt
Cv,
Title: C t it (A(
rr
APPROV ! AST► • :,;;
City Attorney
DEVELOPER:
A0685 Cathedral City, L.P., a California limited partnership
By: A0685 Cathedral City Holdings LLC, a California limited liability company
Its: Managing General Partner
By: Ikaika Ohana, a Hawaii nonprofit corporation
Its: Sole Member and Manager
By: COUNTERPART
John F. Bigley
Its: Secretary
By: A0685 Cathedral City Admin Holdings LLC, a California limited liability company
Its: Administrative General Partner
By: COUNTERPART
John F. Bigley
Its: Manager
SIGNATURES MUST BE NOTARIZED.
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IN WITNESS WHEREOF, the Parties hereto have executed this Memorandum
as of the date first set forth above.
CITY:
City of Cathedral City, a municipal corporation
By: COUNTERPART
Print Name:
Title:
APPROVED AS TO FORM:
COUNTERPART
City Attorney
DEVELOPER:
A0685 Cathedral City, L.P., a California limited partnership
By: A0685 Cathedral City Holdings LLC, a California limited liability company
Its: Managing General Partner
By: Ikaika Ohana, a Hawaii nonprofit corporation
Its: Sole Member and Manager
By:
Jo► ' . :i.+
Its: S-cretary
By: A0685 Cathedral City Admin Holdings LLC, a California limited liability company
Its: Administrative General Partner
By:
Jo F. Bigle
Its: Manager
SIGNATURES MUST BE NOTARIZED.
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ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the
individual who signed the document to which this
certificate is attached, and not the truthfulness,
accuracy, or validity of that document.
State of California )
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County of ve VS I Cry )
On i Pa) 1(0 , 2& . before me, -I�L1 . �- 1Gt� I✓�2
*1
ame of Notary)
notary public,personally appeared aianV)CS P ptac,(,/ld
who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in his/her/their authorized capacity(ies), and that by his/her/their signature(s)on the instrument
the person(s),or the entityupon behalf of which the person(s)acted, executed the instrument.
P ( ) P P ( )
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
� o TRACEY R.MARTINEZ
taryd4L0A10(Signature) — Notary public California
Riverside County
Commission#2282778
„o•. My Comm.Expires Apr 21,2023
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ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the
individual who signed the document to which this
certificate is attached, and not the truthfulness,
accuracy, or validity of that document.
State of California )
/', ) ss
County of vp"z )
01M4- , 2021 , before me, •Q r e- -<,V►, A1C
(Name of otary(
notary public, personally appeared
301,v, -; 6[ L,
who proved to me on the basis of satisfactory evidence be the person(s)whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s)acted, executed the instrument.
I certif •e 'E ALTY OF PERJURY under the laws of the State of California that the
forego g p- agrap is true and correct.
W 'e : my hand :nd official seal.
/ � CESAR DELGADO
(Notary Signat e) s.'��f6_ Notary Public•County California
��?__� Orange County
r `1'►!° Commission tt 2334223
,,°I" My Comm.Expires Sep 23,2024
OAK#4834-9774-2700 v4 4
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the
individual who signed the document to which this
certificate is attached, and not the truthfulness,
accuracy, or validity of that document.
State of California )
ss
County of Or4zrvyi )
On
7144- L/ . 20 2( , before me, ar_V I 411)0A-r541)//C1
(Name M'Notary)
notaryT1V\public,personally appeared V /
who proved to me on the basis of satisfactory eviden to a the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in his/her/their authorized capacity(ies), and that by his/her/their signature(s)on the instrument
the person(s), or the entity upon behalf of which the person(s)acted, executed the instrument.
I cert.. •der P.NALTY OF PERJURY under the laws of the State of California that the
fore: :ing s aragra s is true and correct.
W S my han s and official seal.
GA
NotaryCESAR PublicDEL.CalDOifornia
(Notary Signat e) I I%;&-ice Orange County
Commission#2334221
My Comm.Expires Sep 23_2024
OAK#4834-9774-2700 v4 5
ACKNOWLEDGMENT
A notary public or other officer completing this
certificate verifies only the identity of the
individual who signed the document to which this
certificate is attached, and not the truthfulness,
accuracy, or validity of that document.
State of California )
) ss
County of )
On , 20 , before me,
(Name of Notary)
notary public,personally appeared
who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in his/her/their authorized capacity(ies), and that by his/her/their signature(s)on the instrument
the person(s), or the entity upon behalf of which the person(s)acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
(Notary Signature)
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,
Exhibit A
PUBLIC PURPOSE PARCELS
Real property in the City of Cathedral City, County of Riverside, State of California, described as follows:
PARCEL B OF LOT MERGER/LOT LINE ADJUSTMENT NO. 2020-529 RECORDED JANUARY 25, 2021 AS
INSTRUMENT NO. 2021-0048173 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA,
DESCRIBED AS FOLLOWS:
Lots 109 and 110 and a portion of Lot 108 inclusive as shown by Assessors Map No. 46 on file in Book 2
Page 3 of Assessor's Maps, in the Office of the County Recorder of Riverside County, in the City of
Cathedral City, State of California, lying within the Northwest quarter of the Southwest quarter of the
Northwest quarter of Section 16, Township 4 South, Range 5 East, San Bernardino Meridian, more
particularly described as follows:
BEGINNING at the Northeast Corner of Lot C as shown by Tract No. 26424 on file in Book 257 Pages 49
and 50 inclusive records of said County, said point also being the Southeast Corner of Lot 110 as shown
on said Assessor's Map;
THENCE along the North line of said Lot C of said Tract Map and South line of said Lot 110 and
subsequent Lots 109 and 108 of said Assessor's Map, North 89°27'13"West, a distance of 174.56 feet;
THENCE North 00°32'47" East, a distance of 633.52 feet to a point on the Southerly Sideline of
FrankNega Road (30.00 foot half width Right of Way) as shown on said Assessor's Map and the North
line of said Lot 108 said point being 169.90 feet from the Northeast Corner of said Lot 110;
THENCE along said Southerly Sideline and North line of said Lot 108 and subsequent Lots 109 and 110,
South 89°34'59" East, a distance of 169.90 feet to the said Northeast corner of said Lot 110 said Corner
being on the Westerly line of Palm Springs Highlands Unit No. 3 on file in Book 37 Pages 77 and 78
inclusive records of said County;
THENCE along the East line of said Lot 110 of said Assessor's Map and West line of said Palm Springs
Highlands Map South 00°07'30"West, a distance of 633.92 feet to the TRUE POINT OF BEGINNING.
APN 678-060-51, 53, and a portion of 52.
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