Loading...
2013/07/18 Agreement Eldorado Lien Agreement TR 31582-1RECORDING REQUESTED BY AND WHEN RECORDED PLEASE RETURN TO: Kathy Bennett City Clerk City of Menifee 29714 Haun Road Menilee, CA 92586 DOC ll "77*i;.=47as,s Jlir Fiiiflil, :i;:i!i!Iliffd*:,1: - Larry lJ lJarda.=.".!il"tLilrray!f i,g.r."o"o." A. Pursuant to section 2 ofthat certain cooperative Agreement dated July 2,zol3, by and between City and Owner, Owner is constructing certain site improvements der".ibed onExhibit B attached hereto (the "Improvemcnt work") on or in the viiinity olthe real propeny described on Exhibit A attacl.red hereto (the "Property,'). Note 'l'his document is exempt fronr the paymenr of a recording l'ee pursuant to calilornia Code Section 27383 LIEN AGII.E EMI'NT (TR 31s82-1) THIS LIEN AGREEMENT (this "Lien Agreement") is entered inro as of July 2, 2013, by and among the CITY OF MENIFEE, a political subdivision of the State of California (.,City,,) and Eldorado (Riverside) Venture, LLLp, a Delaware limited liability limited partnership("Orvner"). RECITALS B. As part of the construction olthe lmprovement Work, the City has requested securitl, lo guarantee the completion of the hnprovement Work. c. The City is authorized 10 accept the security proposed by owner, known as a lien agreement, for the completion of the lmprovements work pursuanl to cily ordinance No. 2010- 74, which amended counly ordinance No. 460 ("ortlinance 460"), which ordinance 460 rvas adopted by the City upon incorporation. Now, THEREFoRE, for valuable consideration, the receipt and sulliciency of which are hereby acknowledged, the parties hereto agree as lollows: U52003 4696482 I RECORDED AS BENEFIT TO THE CITY OF MENIFEE I. Owner's Perfbrmance and Obligations A, Owner hereby grants to City, in accordance with the terms and conditions of this Lien Agreement, a lien upon the property, as security for the construction ofthe Improvement Work more specifically described on Exhibit B attached hereto, and in the estimated amounts and specitied in Exhibit C attached herelo (the "Sccurity Amount"), rvhich Security Amount as required by Section 17.1(A).5 ofOrdinance 460; provided, however, rhat Owner's obligation hereunder shall extend only to the actual cosl ofconstruction ofthe lmprovements, notrvithstanding that such costs may be more or less than the estimate set fbrth in Exhibit C. This lien secures said obligation and the remedies provided herein for breach ofsaid obligation. B. The value of the Property is at least 1.5 times the Security Amount, as required by Section 17. 1(A).5 of Ordinance 460. A. Following Owner's completion of the Inrprovement Work, the completion of which are secured by this Lien Agreement, City shall release the Property fiom the provisions ol this Licn Agreement and shall execute any necessary release to enable Owner or its transferee to clear the record of title of the Property so released of the lien herein imposed. B. In no instances shall this Lien Agreement compel the City to construct the Improvement Work. IIl. Effect ol Lien Asreement A. From the date of recordation of this Lien Agreen.rent, a lien shall attach to the Property which shall have the priority ofajudgment lien in an amounl necessary to discharge Improvcment Work. B. Orvner shall have the right to convey or sell f'ee title to the entire property encunrbered by this Lien Agrcement, so long as the purchaser agrees in writing to accept and be bound by the terms and provisions of this Lien Agreement or has provided altemative security acceptable to the City per Ordinance 460. Any new lien agreement entered into by a purchaser of the Propcrty must provide for completion ofthe Improvements by the then-applicable deadline therelbr pursuant 1o the operative agreements between tl.re Ownel and the City. C. l'his l-ien Agreenrent shall expire upon the release ofthe Property by the City, except that Owner's obligation to perfornr and complete the Implovement Work nrust be complctccl ar.rd shall not expire but shall remain in lill lorce and cfl'ect until satislhctoly cornpletion olthe Improvcment Work in Iull compliance plans approved by the City. rJS2008 4696182 I IL Citv's Perhrrmance and Oblisations IV. Events ol Default Upon the occurrence ofany one ofthe following events, Owner shall be deemed in delault hereunder: A. Failure by Owner to complete the Improvement Work by the then-applicable deadline therelbr pursuant to the operative agreements between the Or.vner and the City. B. Commencement of any improvement work without replacement bonds C. F'iling ofany proceedings or action by or against Owner to declare Owner bankrupt or to appoint a receiver or trustee for Owner or to reorganize Owner or to make an assignment for the benefit ofcreditors or to do anything else ofa similar nature or purpose under any state or f-ederal bankruptcy or insolvency laws, if such proceedings or actions are not discharged within one hundred twenty (120) days. D. Levy of any attaclment or writ of execution againsl Owner and the Property ',vhereby the Property is taken or occupied or attempted to be taken or occupied by someone other than Owner and such attachment or executiort is not released within sixty (60) days. Upon receipt of written notice from the City ofthe occulrence ofany of the events described in Section IV above, and the failure of the Owner to commence to cure such del'ault within thirty (30) days and thereafter diligently prosecute such cttre to completion, the City may declare a breach of this Lien Agreemenl by giving rvritten notice to Owner, and may, at City's option, exercise any one or more olthe following remedies: A. Enforce this lien by appropriate action in court and the amount ofsaid lien shall include reasonable attorneys' fees which shall be taxed as a cost in any suit for such enlorcement; and B. Estimate the cost of the r'vork required to complete the Improvements, and all Fces, and foreclose said lien in said amount. All references to Owner in this Section shall be deemed to include Owner's suecessors, assignees, and transferees. A. Recordation. This Lien Agreement shall be recorded by City with the County Recorder imrnediately following execution of this Lien Agreement indexed by (1) all parlies hereto, and (2) all parties having any record title interest in the subject real property, pursuant to Govermnent Code Section 66436, acknowledging subordination of their interests to this Lien Agrcement. US2003 4(196482 I V. City's Remedies Vl. General Provisions I]. Contin[cncy.'l-his l,icn Agreenlent shall not take eI-fcct until it has been approved by thc City Council C, Entire Asreement. This Lien Agreement together with all exhibits and other agreerncnts cxpressly relerred 1o herein, constitutes the cntire agreement between the parties with respect to the subjcct matter contained herein. All prior or contemporaneous agreements, understandings, representations, warranties and statements, oral or written, are superseded. D. Further Assurances. The parties agree to perform such lurther acts and to execute and deliver such additional documents and instruments as may be reasonably required in order to carry out the provisions of this Lien Agreement and the intentions ofthe parties. E. Governinq Larry. l'his Lien Agrcement shall be governed, interpreted, constructed and enforced in accordance with the laws of the State of California. F. Headines. The captions and Section headings used in this Lien Agreement are inserted for convenience of reference only and are not intended to define, limit or affect the construction or interpretation of any term or provision hereof. G. Modification. Waiver. No modification , waiver, amendment or discharge of this Lien Agreement shall be valid unless the same is in writing and signed by all parties. H. No Other Inducement. The making, execution and delivery of this Lien Agreement by the parties hereto has been induced by no representations, statements, warranties or agreements other than those expressed herein. Severabil itv. Ifany term, provision, covenanl or condition ofthis Lien Agreement is held to be invalid, void or otherwise unenforceable, to any extent, by any court ofcompetent jurisdiction, the remainder of this Lien Agreement shall not be affected thereby, and each term, provision, covenant or condition of this Lien Agreement shall be valid and enforceable to the lrillesl extent permitted by larv. ISignature Page Follows] ti5200lt 469(14tt2 I lN WITNESS WHEREOF, the pafties hereto have executed this Agreement as of the day and year first written above. CITY CITY OF MEN IFEE, a political subdivision of thc State of rn ta By Kathy Bennett, City Clerk Approved as to tbrm: J Lr lie tggs,City Att ev Olvi\*ER ELDORADO (RIVERSIDE) VENTURE, L.L.l..P. a Delaware limited liabiliti" limited partnership By: Eldorado (Riverside) ASLI V, L.l-.L.P.. a Delarvare limited liability limited partnership, its solc general partner By: Eldorado (Riverside) GP, LLC, a Delaware limited liability limited partnership. its sole general partner By, Avanti Properties Group II, L.L.L.P., a Delar.vare limited liability limited partnership. its sole manager and member By: Avanti Management Corporation, a Florida corporation, its sole general partner Rv Marvin Shapiro, President ts2008.1696,182 I kAtnuul- A1"tES1' STATE OF FLORIDA COLINTY OF ORANCE On June 26, 2013, befbre me, Bernadette Sostillio, a Notary Public in and lbr said State. personally appeared Marvin M. Shapiro, 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 rvhich the person acted executed the instrument. I certify under PENALTY OF PERJURY that the foregoing paragraph is true and correct WITNESS my hand and official seal. ) ) ) ss ) l:Jl- \ '..r' ,.l I H^ ii,,kl(.i, SIGNATT]ITE OF NOTARY PUI}LIC NO'I'AIIY PUI}LIC SIIAI- BERNADETTE SOSTILLIO coMMtSStoN I E€848991 EXPTRES NOV 17 2014 IOITDED IHiOUGsiu lnsgRA{Ct COM PTJBLIC U.Z89.9ZS-008. I ) lUVION Sn-OOA-t . 610 l]EtoNteuo leN . lorlErlossv tuEroN leuorleN OtOA ri) :6u[uaso]deU sl rauOtS :raqlo lt 6urluesaJdag sl rauOrS :reLllo t roleruosuoc to uPtplEn0 [ solsnll I lcPl ur ^aurollv t lErauae t] palluJll I l- rauuPd lEnpr^rpul t aUeN S,rauOrS iolEruosuoc lo uPrpJPn9 t salsnrf l l lceJ ut ^aulollv t l lBJsuaS I palrur'] I I- rauued I lenpr^rpul ft (s)ellrl - racuo ate.lodroC I I :(s)olt!l - JoJTUO olprodloC t l :euJeN s,]au6ts (s)reu6rg [q peu;e13 (sar)Alrcedeg :o^oqv paureN uEr.]l Jorllo (s)reu6tS :alec lueurncoc luaurnco6 lo adII ro allll luaunco6 paqcegv 1o uo11d1tcsa6 'lueuncop )aqtoue ol w)ol stLll Jo tuawqce$eal pue p^oua Uonpnu! pa^ d pnoo pue tuauncop aqt uo 6u p1 suosad ol elqenp^ €^ud Aeu I .het lq patnbu pu s! r,opq uot)ewtolu at11 r.16noq1 lVNOudO eu6rs leas lercrlio pue pueq tru SS=Nllnn 'loaltoc puB antl sr qdet6eted 6uro6aro; aql leql EtuloltleC lo atels eql lo smel aql rapun UntUSd lO AltVNld rapun {ryac 1 9toz'5 tnf I rur1J09 sa6Ed lo raqurnN --- arnl 7 a^oqv |Pas tuRloN or?td --=7 'luaulnllsur aql palncaxa ,palce (9)uosJad aql qcrLl^ lo lleqaq uodn [1r1ua aq1 to /e)uouadaql luaurnllsul aql uo .(s)atnleu6rs _.tteqlpaqTsrqIq 1eq1 pue'lsar,fucedEo pazuoqlns jaqy.larystq ur otuEs oql palnoaxa [aqyaqs/aq ]Eql eul ol pa6pa;moulce pue luaulnllsur utqy^ aql ol pequcsqns jue7sr (s)aueu asor]^ -(a)uosrad aql aq ol acuapha fuolcelsrles lo srseq aql uo aur ol paro.rd oqm Auool.plirc^tU rlurollF, - qtqnd turlof, s'91861, uoll3lmr.lroc tt]'r'lv u:lJl[N]r 2 a)aq qlunql p dof tEt{lts lol,{EdEnnHtJ{otE aaNcls Jof{tSdstmHr lH9tu U ++0)S t 'aur a]olaq uo -7t'srd^-.Y lo AlunoC Erurolrlec lo alEls utl ]?paiEaddE ^lleuoslad d Ssrr 5 rooo 1t^tc rNSUtCOt-lrnoNxcv f, sodund-11v vtNuoJt-tvc , €lao (\-r0rTl-htrs { Propcrt_Y 051\qb I Ll3 IN THE UNINCOREOI?ATED TERRIIORY Of THE COUN|Y OF RI,r'ERSID€. STATE OF CALIFORNIA TRACT NO. 31582-1 I .l/'clg{MAE 5rr rAc r iE!,50r tr ^ Pfi)rar f Lot 210 itrcuto Rr\ata ctrNfs g,I,\rrfi. tB ,/1.. An mtu6 0 PAA@ x t PL.@ r^Pi4 ?a\ ?t t!5/ efiD i, Rtc@s .. slfxsaa ca,*rt a]rmqt LoatrEn N N gJn#:st aAPla i: gcfilp a r. tt.2 J. PCAfCT D(gdr CArSrrlnTS gPEtA$ 2@. ri 1i\ PROCEDURE OF SUR WY TFACT MAP T.IO, 3266,1M.B 422i!5-e4 LOT 5 rRACT l{O. 3C/O5-r M'B $r/4{-53 o o a , l_ 0 !50 loo E ]RACT iJO. 31455, li IF iI I iEilr- l I ixfrtel eii =lt i,l=r Eq \v.B. az I 42 - 53 o rpu&r-a!1fi @6@tt/ftuav4,l. dd ,ta' tl trn r'aq.iee@a!.d:48 ,t, O @6'oi,,.!D'6r&i 8,,S-(f-E/d!5 I Atr o tr E o o a ? RE d:P, A! -- - FvVlaor!/rvm COaSri,4 r rcra J UJ c EA:EIIXLdaE ta * n tu Dr E n q f G a.fis rN tt lt'a@ @{ E F E ;1 u ; L ; rl::ilq, -^ -.46!^,6l@A rqoa6,L \/15/4 I I I EXHIBIT I] DIlSCI{IP'I-ION OF TII E INIPITOVINIENI' WOI{I( TITACT 31582-1 Description of the improvenrent work per plans and bonds listed below PLANS Construction of improvements per Perimeter Wall Plans prepared by ProjectDesign Consultants and as approved by the Valley Wide Recreation & Park District Construction of improvements per Rough Grading Plans prepared by ProjectDesig:r Consultarlts and as approved by the County of Riverside Constmction of improvements per Water, Sewer & Recycled Water Plans prepared by ProjectDesign Consultants and as approved by Eastern Municipal Water District Construction of in.rproverrents per On-Site Signing & Striping Plans prepared by ProjectDesign Consultants and as approved by the County ofRiverside Transpofiation Department Construction of improvements per Salt Creek - Trailhead Dr. Stonn Drain Stage 2 Salt Creek- Redrvood Street Debris Basin Itnprovement Plans prepared by ProjectDesigr.r Consultants and as approved by the County of Riverside Constr-uction of irnprovements per Streetscape Plans prepared by Cornrnunity Works Design Group and as approved by the County of Riverside Transporlation Department Construction of improvements per Permanent Erosion Control Plans for Brendle Mills prepared by Architerra Design Group and as approved by the County olRiverside Construction of improvements per Water Quality Basins prepared by Architena Design Group and as approved by the County of Riverside Tlansportation Department BONDS Cor.rstnrction of improvements per Faithful Perfonnance Bond for Grading Projects No. 41209002 and Agreement for Crading Projects and/or Erosion Control Improvements for s 120,500 Constmction of improvernents per Faithflul Perfonnance Bond lor Grading Projects No, 41209003 Agreelncnt lbr Grading Projects and/or Erosion Control Improvements fbr S I I 6,500 Construction of irnprovernents per Faithful Perfonnance Bond for Grading projects No. 41209004 and Agreernent for Grading Projects and/or Erosion Control Improvernents for s25,000 Construction of improvements per Sr"rbdivision Monument Bond No. 41208999 and Agreement tbr the Placerneut of Survey Monuments for $79,200 EXTIIBIT C Description Tract 31582-1 Su bdivision Monuments Rough Grading Rough Grading Erosion Control 79,200 1r.6,500 25,000 120,500 Gra nd Total 347,200