HomeMy WebLinkAboutR-10693 - Real Property Exchange Agreement 2881 Broad, Tract 1150, for N Edge of Perkins (SBDV-1990-2015)RESOLUTION NO.10693 (2016 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, APPROVING A REAL PROPERTY
EXCHANGE AGREEMENT WITH THE PROPERTY OWNER(S) OF
2881 BROAD STREET, TO EXCHANGE CITY SURPLUS PROPERTY,
BEING A PORTION OF LOT A OF TRACT 1150, FOR PROPERTY
ALONG THE NORTHERLY EDGE OF PERKINS LANE (SBDV-1990-
2015)
WHEREAS, the City of San Luis Obispo is a Charter City as defined in the California
Constitution article XI, section 5 and may transfer real property as provided by City Charter
Section 906; and
WHEREAS, title reports show that the City of San Luis Obispo ("City") has fee
ownership of "Lot A" of Tract 1150, and that California Coastal Investment, LLC a California
Limited Liability Company, and Vista Da Praia, LP, a California Limited Partnership
(collectively referred to herein as "Developers") have fee ownership to the property known as
2881 Broad Street (APN 004-581-001); and
WHEREAS, the City has received a request from the Developers to acquire a portion of
"Lot A" of Tract 1150 ("Surplus Property") in exchange for a portion of 2881 Broad Street at its
border with Perkins Drive ("Perkins Street Dedication"), along with the construction of certain
improvements that benefit the City and the public; and
WHEREAS, the City of San Luis Obispo Planning Commission conducted a public
hearing on December 9, 2015, to consider whether the disposition of the "Surplus Property" and
the acquisition of the "Perkins Street Dedication" conforms to applicable goals and policies of
the City's General Plan, and found that the proposed exchange is consistent with the City's
General Plan.
NOW THEREFORE, BE IT RESOLVED, by the Council of the City of San Luis
Obispo as follows:
SECTION 1. The above recitals are true and correct and incorporated herein by this
reference.
SECTION 2. Fines Based upon all the evidence, the City Council makes the
following findings:
1. The City no longer has need for the portion of "Lot A" of Tract 1150 directly adjacent
to 2881 Broad.
2. The property exchange is consistent with the policies of the Land Use and Circulation
Elements of the City's General Plan, and is consistent with similar disposition of
property in the immediate vicinity.
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SECTION 3. Environmental Review. The property exchange is categorically exempt
under Class 15312 of the California Environmental Quality Act (CEQA) Guidelines because it
involves the disposition and acquisition of property that does not have significant value for
wildlife habitat or other environmental purposes and would qualify for an exemption under any
other class of categorical exemption in the CEQA Guidelines. Any future development of the
property would be subject to CEQA at the time the project is filed.
SECTION 4. The City Council does hereby declare Lot A of Tract 1150 to be surplus
property, and that it does not have any significant value as wildlife habitat or other
environmental purposes and that, due to the size and shape of the property, it is incapable of
independent development or use.
SECTION 5. The City Council does hereby approve the proposed property exchange
and authorizes the City Manager to execute a Real Property Exchange Agreement substantially
in the form attached hereto as Exhibit 1, and authorizes the City Manager and City staff to take
action necessary to carry out the intent of this Resolution.
Upon motion of Council Member Ashbaugh, seconded by Council Member Christianson, and on
the following roll call vote:
AYES: Council Members Ashbaugh, Christianson and Rivoire,
Vice Mayor Carpenter and Mayor Marx
NOES: None
ABSENT: None
The foregoing resolution was passed and adopted this 16th day of February 2016.
Mayor J Marx
ATTEST:
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Resolution No. 10693 (2016 Series) Page 3
APPROVED AS TO FORM:
. Christine Dietrick
City Attorney
IN WITNESS WHEREOF, 1 have hereunto set my hand and affixed the official seal of the City
of San Luis Obispo, California, this 22 day of Ac,1A _.
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EXHIBIT 1
RECORDING REQUESTED BY
AND WHEN RECORDED, RETURN TO:
City Clerk
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
REAL PROPERTY EXCHANGE AGREEMENT
THIS REAL PROPERTY EXCHANGE AGREEMENT ("Agreement") is dated as of
, 2016, and is made and entered into by and between California
Coastal Investments, LLC, a California Limited Liability Company and Vista Da Praia, LP, a
California Limited Partnership (collectively "Developers"), and the City of San Luis Obispo, a
California municipal corporation and charter city ("City"). Developers and City are collectively
referred to as "Parties".
RECITALS
A. Developers own that certain real property located at 2881 Broad Street. Said property is
described in Exhibit A ("2881 Broad Street").
B. City owns that certain real property located adjacent to 2881 Broad Street. Said City
property is described in Exhibit B ("City Property").
C. City acquired City Property in fee as Lot A of Stoneridge Tract 1150 as shown in map
recorded in Book 13 of Maps Page 48 on file in the office of the County Recorder of San
Luis Obispo County, State of California.
D. Said Lot A is a remnant parcel from Tract 1150 (Stoneridge I), dedicated in fee to the
City, with the intent that it be included with future development south of Stoneridge
Drive.
E. Developer wishes to acquire a portion of the City Property conceptually shown in Exhibit
C attached hereto ("Surplus Property") in order to facilitate development of 2881 Broad
Street.
F. City Council Resolution No. made findings regarding the
disposition of the Surplus Property. It was determined that City no longer has need for
the Surplus Property, and that the disposition of Surplus Property to facilitate residential
development is consistent with the policies of the Land Use and Housing Elements of the
General Plan.
G. In exchange for obtaining Surplus Property, Developers will dedicate right-of-way to the
City for street purposes at the easterly end of Perkins Lane to accommodate future street
improvements benefitting the City and the public. The Perkins Lane right-of-way is also
conceptually shown in Exhibit C attached hereto ("Perkins Lane Dedication").
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AGREEMENT
Page 5
NOW, THEREFORE, in consideration of the above recitals and the mutual covenants set
forth below, City and Developers agree as follows:
1. Recitals Incorporated. The above Recitals are true and correct and are incorporated into
this Agreement by this reference.
2. Transfer of Real Property.
a. Surplus Property to Developers. Upon satisfaction or waiver by City of each and
every condition precedent set forth in Section 4 below, City agrees to convey title the
Surplus Property to Developers. The method of conveyance shall be by quit claim
deed substantially in the form attached hereto as Exhibit E (the "Quit Claim Deed")
b. Perkins Lane Dedication. Subject to the terms and conditions hereof, Developers shall
irrevocably offer to dedicate to City the Perkins Lane Dedication to the City
substantially in the form attached hereto as Exhibit F (the "Offer of Dedication").
Any fees and property taxes required by County to record the exchange shall be the
sole responsibility of Developers.
3. Escrow and Closin r. This transaction contemplated by this Agreement shall be
consummated through an escrow ("Escrow") established at First American Title Company, San
Luis Obispo, California ("Escrow Company"), or another escrow company mutually agreeable
by City and Developers. Upon Escrow Company's receipt of written notice from City of
satisfaction or completion of the conditions precedent set forth in Section 4 below, Escrow
Company shall record in the following order: Quit Claim Deed, Offer of Dedication, Street
Easement (as defined in Section 4.b), Landscape Easement (as defined in Section 4.c), and
Notice of Merger (as defined in Section 4.d), in the Official Records of San Luis Obispo County
("Closing"). All costs and expenses related to this Agreement and Escrow, including, but not
limited to, escrow fees, documentary transfer taxes, and recording fees, shall be the sole and
absolute responsibility of Developers.
4. Conditions Precedent to Conve ance for Cit 's Benefit. Closing this transaction and
City's obligation to convey title to the Surplus Property to Developers is expressly conditioned
upon Developers completion of the following conditions precedent, which may only be approved
or waived by City in writing:
a. Developer's submittal to City of the signed Offer of Dedication in a form
approved by the City.
b. Developer's submittal to City of an approved signed offer of dedication in a
form approved by the City for a street easement along Stoneridge Drive to
accommodate installation of future sidewalk and/or a right -turn lane ("Street
Easement"). The configuration of said easement is conceptually shown in
Exhibit D attached hereto.
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c. Developer's submittal to City of an approved signed easement agreement
between Developers and the Homeowner's Association for Stoneridge Tracts
1150 and 2126 for an easement at the intersection of Stoneridge Drive and
Broad Street to accommodate maintenance and repair of the existing
monument sign, electrical service and landscaping for the Stoneridge Tracts
1150 and 2126 subdivisions as noted in Exhibit D ("Landscape Easement").
d. Developer's submittal to City of an approved signed Notice of Merger merging
2881 Broad and Surplus Property into a single lot ("Notice of Merger").
e. Developer's submittal of any fees and property taxes, including recording fees
and title fees, required by County and the Escrow Company to record the
exchange and the associated documents.
Page 6
f. The City's receipt of an updated preliminary title report from Escrow
Company as of the date of the Closing showing title to 2881 Broad Street
Property in the name of Developers subject only to the following conditions of
title:
i. A lien to secure payment of real estate taxes and supplemental taxes, if any,
not delinquent;
ii. Matters affecting the condition of title created by or with the written
consent of City;
g. Printed exceptions and exclusions as specified on the Preliminary Title Report
approved by City. Submittal by Developers to Escrow any preliminary change
of ownership reports.
h. Any other documents, information or fees requested by City to consummate
this transaction.
5. Condition of Title of Real ProL)erty. Developers agree to offer the Perkins Lane
Dedication to the City free and clear of any conflicting liens and encumbrances, leases,
assessments, easements, and other possessory or non -possessory interests in the real property,
except for recorded public utility easements, recorded public rights of way, or other liens or
encumbrances approved by the City. Prior to Closing, Developers shall submit a current
preliminary title report or Lot Book Guarantee for property overlying the Perkins Lane
Dedication area to confirm the acceptability of the condition of title in advance of Closing.
6. Consideration. The Parties agree that Perkins Lane Dedication and Surplus Property are
of equal value. The Perkins Lane Dedication provides a significant public benefit as a whole and
constitutes adequate consideration for the property transferred, and no monetary consideration
shall be exchanged.
7. "As -Is": Environmental Indemnity Agreement.
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EXHIBIT 1
AS -IS. WHERE IS
To the maximum extent permitted by law, Developers agree to accept the Surplus
Property on an "as -is" and "where -is" basis, with all faults and any and all latent and patent
defects and without any representation or warranty, all of which Cit and its representatives
hereby disclaim.
As a material part of the consideration for the City's agreement to enter into the Real
Property Exchange Agreement, City shall be released, held harmless and indemnified by
Developers and their successors and assigns, and completely protected, to the fullest extent
possible under the law, from any and all claims, liabilities and obligations associated with the
physical or environmental condition of Surplus Property and Developers and their successors and
assigns, as transferees, shall accept all risks, liabilities and financial obligations arising from or
relating to the physical and environmental condition of Surplus Property, regardless of the nature
or degree of any defect in such condition.
8. Waiver. No delay or omission in the exercise of any right or remedy of a non -defaulting
party regarding any default by the other party shall impair such right or remedy or be construed
as a waiver. A party's consent or approval of any act by the other party requiring consent or
approval shall not be deemed to waive or render unnecessary said party's consent to or approval
of any subsequent act of the other party. Any waiver by either party of any default must be in
writing and shall not be a waiver of any other default concerning the same or any other provision
of this Agreement.
9. Legal Action. In addition to any other rights or remedies either party has under this
Agreement, either party may take legal action to: (a) cure, correct or remedy any default by the
other party; (b) compel specific performance of this Agreement; (c) obtain injunctive relief; or
(d) obtain any other remedy consistent with the purpose of this Agreement.
10. Notices. Any notice, demand, request, consent, approval or communication under this
Agreement shall be in writing and either served personally or sent by prepaid, first-class mail to
the address set forth below. Either party may change its address by notifying the other party of
the change of address in writing. Notice shall be deemed given (a) upon personal delivery or (b)
forty-eight (48) hours from deposit of such notice in the United States mail, postage prepaid.
To City:
City of San Luis Obispo
919 Palm Street
San Luis Obispo, CA 93401
Attn: City Manager
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Resolution No. 10693 (2016 Series)
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To Deveiopci•s:
California Coastal Investments, LLC
2436 Broad Street
San Luis Obispo CA 93401
Vista Da Praia Investments, LP
PO Box 1410
Arroyo Grande CA 93421
Page 8
11. A eement Assignment. Developers shall not assign, transfer, convey or otherwise
dispose of the contract, or its right, title or interest, or its power to execute such a contract to any
individual or business entity of any kind without the previous written consent of the City.
12. Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of California.
13. Amendment. This Agreement may be amended at any time by the mutual consent of the
Parties by a written instrument signed by both Parties.
14. Authority. The persons executing this Agreement on behalf of the Parties hereto warrant
that they are duly authorized to execute this Agreement on behalf of said Parties and that by so
executing this Agreement, the Parties hereto are formally bound to the provisions of this
Agreement.
15. Severability. Each term, covenant, condition or provision of this Agreement is intended
to be severable. If any term, covenant, condition or provision contained in this Agreement is
held to be invalid, void or illegal by any court of competent jurisdiction, such provision shall be
deemed severable from the remainder of this Agreement and shall in no way affect, impair or
invalidate any other term, covenant, condition or provision contained in this Agreement. If such
term, covenant, condition or provision shall be deemed invalid due to its scope or breadth, such
covenant, condition or other provision shall be deemed valid to the extent of the scope or breadth
permitted by law.
16. Intemretation. The paragraph headings of this Agreement are for reference and
convenience only, are not made part of this Agreement and shall have no effect upon the
construction or interpretation of any part hereof. The provisions of this Agreement shall be
construed in a reasonable manner to implement the purposes of the Parties and of this
Agreement. This Agreement shall be construed as if drafted jointly by City and Developers.
17. Indemnification. Developers shall defend, indemnify, and hold harmless the City or its
agents, officers, and employees from any claim, action, or proceeding against the City or its
agents, officers, or employees arising out of or related to the City's approval of this Agreement.
The City shall promptly notify Developers of any claim, action, or proceeding received by the
City.
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18. Entire Agreement. This Agreement represents the entire understanding of City and
Developers as to the matters contained herein, and no prior oral or written understanding shall be
of any force or effect with respect to the matters covered in this Agreement.
19. Attorney's Fees. If any legal action or proceeding arising out of or relating to this
Agreement is brought by either party to this Agreement, the prevailing party will be entitled to
receive from the other party, in addition to any other relief that may be granted, the reasonable
attorney's fees, costs, and expenses incurred in the action or proceeding by the prevailing party.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by
their respective duly authorized officers and representatives as of the date first set forth above.
CITY OF SAN LUIS OBISPO, a California municipal corporation
M.
Katie Lichtig
City Manager
Pursuant to authority conferred by Resolution No.
ATTEST:
By:
Jon Ansolabehere
Interim City Clerk
APPROVED AS TO FORM:
By: ._
J. Christine Dietrick
City Attorney
DEVELOPERS
CALIFORNIA COASTAL INVESTMENTS, LLC, a California Limited Liability Company
Rodessa A Newton, Member
Eric Newton, Member
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VISTA DA PRAIA INVESTMENTS, LP, a California Limited Partnership
By: DC Property Investments, LLC
A California limited liability company
its General Partner
Dustin J. Pires, Manager
Cristina C. Pires, Manager
By: Ezequiel F. Correia,
Trustee of the Correia 2005 Living Trust Dated March 1, 2005
its Limited Partner
Ezequiel F. Correia, Trustee
By Maria A. Cr. Correia,
Trustee of the Correia 2005 Living Trust Dated March 1, 2005
its Limited Partner
Maria A. Cr. Correia, Trustee
By: Ezequiel R. Correia
its Limited Partner
Ezequiel R. Correia
Page 10
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Resolution No. 10693 (2016 Series)
EXHIBIT 1
By: Rachel A. Correia
its Limited Partner
Rachel A. Correia
By: Dustin J. Pires
its Limited Partner
Dustin J. Pires
By: Cristina C. Pires
its Limited Partner
Cristina C. Pires
Page 11
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Resolution No. 10693 (2016 Series)
EXHIBIT 1
Exhibit A
Legal Description of 2881 Broad
Page 12
(A.P.N.: 004-581-001) THAT PORTION OF LOT 1 OF YOAKUM POULTRY UNITS,
ACCORDING TO MAP RECORDED MARCH 11, 1927, IN BOOK 3, PAGE 89 OF
MAPS, DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST NORTHERLY CORNER OF SAID LOT; THENCE
SOUTH 32°29' EAST ALONG THE NORTHEASTERLY LINE OF SAID LOT, 90 FEET
TO THE MOST EASTERLY CORNER OF SAID LOT; THENCE SOUTH 57°31'
WEST ALONG THE SOUTHEASTERLY LINE OF SAID LOT, 171 FEET; THENCE
NORTHWESTERLY IN A STRAIGHT LINE TO A POINT IN THE NORTHWESTERLY
LINE OF SAID LOT WHICH BEARS SOUTH 66°40' WEST 163.5 FEET FROM THE
MOST NORTHERLY CORNER OF SAID LOT; THENCE NORTH 66°40' EAST
ALONG SAID NORTHWESTERLY LINE OF SAID LOT, 163.5 FEET TO THE POINT
OF BEGINNING.
End of description.
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Resolution No. 10693 (2016 Series)
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Exhibit B
Legal Description of City Property
Page 13
LOT "A" OF TRACT NO. 1150, ACCORDING TO THE MAP THEREOF, RECORDED
SEPTEMBER 10, 1986 IN BOOK 13 OF MAPS, AT PAGE 48, SAN LUIS OBISPO
COUNTY RECORDS.
End of description.
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Resolution No. 10693 (2016 Series)
EXHIBIT 1
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Resolution No. 10693 (2016 Series)
EXHIBIT 1
RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
City of San Luis Obispo
Attn: City Clerk
990 Palm Street
San Luis Obispo, CA 93401
APN(s):
Page 16
Exhibit E
The undersigned grantor(s) declare(s):
DOCUMENTARY TRANSFER TAX
❑ computed on full value of property conveyed; or
❑ computed on full value less liens and encumbrances
remaining at time of sale.
❑ Unincorporated Area ❑ City of
QUITCLAIM DEED
FOR VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged, the City
of San Luis Obispo, a California municipal corporation hereby REMISE(S), RELEASE(S) and
QUITCLAIM(S) to California Coastal Investments, LLC, a California Limited Liability
Company and Vista Da Praia, LP, a California Limited Partnership a portion of Lot "A" of Tract
No. 1150 in the City of San Luis Obispo, County of San Luis Obispo, State of California,
according to the map thereof, recorded September 10, 1986, in Book 13 of Maps, at Page 48, in
the office of the County Recorder of said county, described as follows:
[LEGAL DESCRIPTION OF SURPLUS PROPERTY]
CITY OF SAN LUIS OBISPO,
a California Municipal Corporation
Katie Lichtig, City Manager
Pursuant to City Council Resolution No.
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EXHIBIT 1
Exhibit F
Recording Requested by
and when recorded, return to:
City Clerk
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
IRREVOCABLE & PERPETUAL
OFFER TO DEDICATE STREET RIGHT OF WAY
(Perkins Lane)
Page 17
APN 004-581-001
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
California Coastal Investments, LLC, a California Limited Liability Company and Vista Da
Praia, LP, a California Limited Partnership as OFFERORS, hereby OFFERS to the City of San
Luis Obispo, a Municipal Corporation and Charter City, as OFFEREE, an irrevocable easement for
public street and utilities purposes upon, over, under and across a portion of certain property
described as:
That portion of Lot 1 of Yoakum Poultry Units, according to map recorded March 11,
1927, in Book 3, Page 89 of Maps, described as follows: Beginning at the most Northerly
corner of said Lot; thence South 32°29' East along the Northeasterly line of said Lot, 90
feet to the most Easterly corner of said Lot; thence South 57°31' West along the
Southeasterly line of said Lot, 171 feet; thence Northwesterly in a straight line to a point in
the Northwesterly line of said Lot which bears South 66°40' West 163.5 feet from the most
Northerly corner of said Lot; thence North 66°40' East along said Northwesterly line of
said Lot, 163.5 feet to the point of beginning.
Said irrevocable easement offer is described as follows:
[LEGAL DESCRIPTION OF PERKINS LANE DEDICATION]
IN WITNESS WHEREOF, OFFERORS hereunto caused its/their name(s) to be subscribed this
day of.__
OFFERORS:
,20
CALIFORNIA COASTAL INVESTMENTS, LLC, a California Limited Liability Company
VISTA DA PRAIA INVESTMENTS, LP, a California Limited Partnership
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Exhibit F
(continued)
CONSENT OF BENEFICIARY TO SUBORDINATE
Page 18
is a Beneficiary under that certain Deed of
Trust(s) dated , executed by
Trustor, and recorded as Instrument Number(s)
_ of Official Records in the Office of the County Recorder,
County of San Luis Obispo, State of California. The Deed of Trust(s) encumber(s) the real
property described in the attached offer. As the Beneficiary of said Deed of Trust(s), the
undersigned hereby consents (a) to the execution and recordation of the attached Irrevocable &
Perpetual Offer to Dedicate Street Right of Way, (b) to the execution and recordation of an
easement to the City of San Luis Obispo, if the offer is accepted by the City, and (c) to
subordinate the undersigned's interest in the real property to the Irrevocable & Perpetual Offer to
Dedicate Street Right of Way, and the easement.
Date:
Date:
Beneficiary
Beneficiary
[Signatures of Beneficiaries must be notarized.]
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