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2015/04/28 Agreement Stark Menifee Land, LLC, lien agreement PM 36299-1 DOC # 2015-0171371 04/28/2015 08:44R Fee:NC RECORDING REQUESTED BY, AND Page 1 of 10 WHEN RECORDED MAIL TO: Recorded in Official Records County of Riverside Peter Rldana MenifeeAssessor, County Clerl 1, Recorder City of City Clerk's Office i IIIIII IIIIIII IIIII III IIIII IIIII IIIIIII III IIIII IIII IIII 29714 Haun Road Menifee, CA 92586 S R U PAGE SIZE DA MISC LONG RFD COPY RECORDED AS A BENEFIT TO THE CITY I OF MENIFEE.Note: This document is exempt M A L 465 1 426 PCOR NCOR SM NCHG EXAM from payment of recording fees pursuant to California Government Code Section 27383 T: CTY UNI Space above this line for Recorder's use. FIRST AMENDMENT TO LIEN AGREEMENT 268 The City of Menifee, a political subdivision of the State of California ("City") and Stark Menifee Land, LLC, a Wisconsin limited liability company ("Owner") entered into that certain, Lien Agreement, dated March 13, 2013 and recorded as Document No. 2013-0182114 on April 17, 2013 in the official records of Riverside County, as modified by that certain Partial Release and Termination of Lien Agreement dated August 6, 2014 and record as Document No. 2014- 0314404 on August 19, 2014 (collectively, "Lien Agreement"). Exhibit "A", Exhibit "B" and Exhibit "C" of the Lien Agreement are each hereby replaced and superseded, each in their entirety, by Exhibit B, Exhibit C, and Exhibit D respectively, attached hereto. In addition, a new Exhibit A is incorporated and attached hereto. The Lien Agreement otherwise remains in full force and effect. This document may be signed in counter parts and shall be recorded in the official records of Riverside County. Dated: C S , 2015 CITY OF MENIFEE, a political subdiv' 'on of the State of California By: Name: Robe ohnson Title: City nager Attest: Kathy Bennett, City Clerk Approved as to form: Jeffrey Melching, City Attorney #34122458_vl Dated: ,2015 STARK MENIFEE LAND, LLC, , a Wisconsin limited liability company By: Stark Offshore Management, LLC, Its: Manager By: Name: Title: M(�[Y,-o;ftG VJ j Signatures require notary acknowledgement 434122458_vl 2 ACKNOWLEDGMENT State of Wisconsin ) County of Milwaukee ) On April 6, 2015 before me, Jenifer C. Bersch, notary public, personally appeared Michael A. Roth, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of Wisconsin that the foregoing paragraph is true and correct. `�auuuuu�p��� WITNESS my hand and official seal. p y 3 NOTAgy y y OF WISG�p�+`• Notary Flublic, Ntate of Wisconsin ""�n liM0 My Commission expires: May 29, 2016 (Notary Stamp) Acknowledgement Page to First Amendment to Lien Agreement o m � —_ — o < V V Q g Z N c as 3331N31`1 N oa NnvH U as A3�avae 0 0 i as VIRMN I d o i i i ILL I_.. 'i rY`7V ui k 1 j r \� X I W i �� ICI I� I A M C.=!%� I _ 1IU n ry t N LL I/VT ! CIA I III ry 1! it I I i _- N M EXHIBIT B LEGAL DESCRIPTION OF THE PROPERTY THOSE PORTIONS OF PARCELS 10, 11 AND 12 OF PARCEL MAP 9504,AS SHOWN BY MAP ON FILE IN BOOK 67 OF PARCEL MAPS AT PAGES 5 AND 6, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA, LYING IN SECTION 3, TOWNSHIP 6 SOUTH, RANGE 3 WEST, SAN BERNARDINO MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF PARCEL 9, SAID CORNER BEING ON THE CENTERLINE OF SHERMAN ROAD (44.00 FEET IN HALF WIDTH), BOTH AS SHOWN ON SAID PARCEL MAP; THENCE SOUTH 000 13' 11" WEST ALONG THE WESTERLY LINE OF SAID PARCEL 9 AND ALONG THE WESTERLY LINE OF SAID PARCEL 10 AND ALONG SAID CENTERLINE OF SHERMAN ROAD, A DISTANCE OF 1185.74 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTH 000 13' 11" WEST ALONG SAID WESTERLY LINE OF PARCEL 10 AND ALONG THE WESTERLY LINES OF SAID PARCELS 11 AND 12 AND ALONG SAID CENTERLINE, A DISTANCE OF 888.03 FEET; THENCE LEAVING SAID WESTERLY LINE OF PARCEL 12 AND SAID CENTERLINE NORTH 890 42' 18" EAST, A DISTANCE OF 1041.37 FEET TO A POINT ON THE WESTERLY LINE OF THAT CERTAIN PARCEL OF LAND CONVEYED TO RIVERSIDE COUNTY FLOOD CONTROL AND WATER CONSERVATION DISTRICT BY GRANT DEED RECORDED SEPTEMBER 29, 2011 AS DOCUMENT NO.2011-0432006, OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; THENCE NORTH 000 11' 02" EAST ALONG SAID WESTERLY LINE OF SAID PARCEL SO CONVEYED, A DISTANCE OF 234.44 FEET TO THE BEGINNING OF A TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 1112.50 FEET; THENCE NORTHERLY ALONG SAID WESTERLY LINE AND ALONG SAID CURVE, TO THE RIGHT, THROUGH A CENTRAL ANGLE OF V 48'43", AN ARC DISTANCE OF 35.18 FEET TO THE BEGINNING OF A REVERSE CURVE, CONCAVE WESTERLY, HAVING A RADIUS OF 887.50 FEET, THE RADIAL LINE TO SAID POINT BEARS NORTH 880 00' 15" WEST; THENCE NORTHERLY ALONG SAID WESTERLY LINE AND ALONG SAID CURVE, TO THE LEFT, THROUGH A CENTRAL ANGLE OF 1° 48'43",AN ARC DISTANCE OF 28.07 FEET; THENCE CONTINUING NORTH 000 11' 02" EAST ALONG SAID WESTERLY LINE, A DISTANCE OF 590.35 FEET TO A POINT THEREON; 434122458_vl 5 THENCE LEAVING SAID WESTERLY LINE SOUTH 89° 42' 18" WEST, A DISTANCE OF 1041.82 FEET TO THE TRUE POINT OF BEGINNING. SAID LAND IS SHOWN AS PARCEL B OF LOT LINE ADJUSTMENT NO.10-002, RECORDED AUGUST 2, 2012 AS INSTRUMENT NO. 2012-364246, OF OFFICIAL RECORDS. APN: 360-130-13 #34122458_vl 6 EXHIBIT C DESCRIPTION OF THE IMPROVEMENT WORK PHASE 1 Construction of Improvements per Riverside County Flood Control and Water Conservation District— Sherman Road Storm Drain and Laterals Line CC,Line S, Line D and Line I prepared by Webb Associates and as approved by the City of Menifee and Riverside County Flood Control Construction of Improvements per City of Menifee Water, Recycled Water and Sewer Improvement Plans—Sherman Road, prepared by Webb Associates and as approved by Eastern Municipal Water District and the City of Menifee Construction of Improvements per Street Improvement Plans—Sherman Road prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Signing& Striping and Traffic Signal Plans—Sherman Road prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Street Light Improvement Plans— Sherman Road prepared by Webb Associates as approved by the City of Menifee Construction of Improvements per Mass Grading Plans Parcel Map No. 36299 prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Erosion Control Plans Parcel Map No. 36299 prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Utility Company Facilities Specifications and Requirements—Dry utilities—Southern California Edison, Telephone, CATV, Gas Trench and Gas System per plans prepared by RGI Utility Consultants and as approved by each utility company. PHASE 2A Construction of Improvements per Mass Grading,Plans Parcel Map No. 36299 Delta Revision 2 prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Erosion Control Plans Parcel Map No. 36299 prepared by Webb Associates and as approved by the City of Menifee 434122458_vl 7 Construction of Improvements per Landscape Plans Town Center Drive Streetscape Phase 1 prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Street Improvement Plans—Sherman Road Delta Revision 5 prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Signing & Striping and Traffic Signal Plans—Sherman Road Delta Revision 4 prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per City of Menifee Water, Recycled Water and Sewer Improvement Plans Delta Revision 2— Sherman Road,prepared by Webb Associates and as approved by Eastern Municipal Water District and the City of Menifee PHASE 2B Construction of Improvements per City of Menifee Water, Recycled Water and Sewer Improvement Plans—Loop Roads,prepared by Webb Associates and as approved by Eastern Municipal Water District and the City of Menifee Construction of Improvements per Street and Storm Drain Improvement Plans—Loop Roads prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Signing & Striping Plans—Loop Roads prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Street,Light Improvement Plans—Loop Roads prepared by Webb Associates as approved by the City of Menifee Construction of Improvements per Utility Company Facilities Specifications and Requirements—Dry utilities—Southern California Edison, Telephone, CATV, Gas Trench and Gas System per plans prepared by RGI Utility Consultants and as approved by each utility company. PHASE 2C Construction of Improvements per City of Menifee Water,Recycled Water and Sewer Improvement Plans—Great Oak Road,prepared by Webb Associates and as approved by Eastern Municipal Water District and the City of Menifee Construction of Improvements per Street and Storm Drain Improvement Plans—Great Oak Road prepared by Webb Associates and as approved by the City of Menifee Construction of Improvements per Signing& Striping and Traffic Signal Plans—Great Oak Road prepared by Webb Associates and as approved by the City of Menifee #34122458_vl 8 Construction of Improvements per Street Light Improvement Plans—Great Oak Road prepared by Webb Associates as approved by the City of Menifee Construction of Improvements per Utility Company Facilities Specifications and Requirements —Dry utilities— Southern California Edison, Telephone, CATV, Gas Trench and Gas System per plans prepared by RGI Utility Consultants and as approved by each utility company. 434122458_vl 9 EXHIBIT D Security Amount Description of work Phase 213 Street Improvements 686,551 0% $ 686,551 Remedial Grading 127,560 0°% $ 127,560 Storm Drain Improvements 365,885 0% $ 365,885 Water Quality Basins 190000 0% $ 190,000 Sewer Improvements 481,400 0% $ 481,400 Water Improvements 341,470 0% $ 341,470 Recycled Water Improvements 172,475 0% $ 172,475 Ornamental Street Lights 188,000 0% $ 188,000 Dry Utilities 206,162 0% $ 206,162 Signing and Striping 15,500 0% $ 15,500 Sub Total Phase 2B 2,775,003 2,775,003 Phase 2C Street Improvements 527,423 0% $ 527,423 Remedial Grading 103,050 0% $ 103,050 Storm Drain Improvements 125,104 0% $ 125,104 Sewer Improvements 205,200 0% $ 205,200 Water Improvements 187,240 0% $ 187,240 Recycled Water Improvements 228,330 0% $ 228,330 Ornamental Street Lights 106,000 0% $ 106,000 Dry Utilities 309,243 0% $ 309,243 Signing and Striping 3,900 0% $ 3,900 Monument Estimate 54,000 0% $ 54,000 Sub Total Phase 2C 1,849,490 1,849,490 Sub Total Phase 2B and 2C 4,624,493 4,624,493 Total for Phase 2B and 2C 4,624,493 4,624,493 Lien Total (1.5 x the total) $ 6,936,739 Remaining Lien still on the property $ 1,268,354 Property Lien for Balance of Improvements plus existing lien $ 8,205,093 Land Value per County of Riverside Tax Records Assessment# 360130014-6 $1,642,045 Assessment# 360130014-6 $1,696,954 Assessment# 360130014-6 $5,409,383 Total Value of land $8,748,382 #34122458_v1 10