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Home My WebLink AboutD-2070 Amendment to Lease - Housing Authority 1090 Orcutt 1092 Orcutt 1105 LaurelRECORDING REQUESTED BY: AND WHEN RECORDED RETURN TO: City of San Luis Obispo FAUG IVED - 990 Palm Street San Luis Obispo, Ca. 93401 7 2017 Attn: City Clerk APN 004-962-027 AMENDMENT TO LEASE 2117033671 Tommy Gong 072:-Ms-npMO4nty Clerk -Recorder Recorded at the request of, PUBLIC Titles: 1 Pages: 7 Fees: $0.00 Taxes:0.00 Total: $0.00 ��jtlll This Amendment to Lease (the "Amendment") is entered into as of July 26, 2017, by and between the City of San Luis Obispo (the "Lessor") and SLO 55, L.P., a California limited partnership (the "Lessee") with reference to the following facts: A. The Housing Authority of the City of San Luis Obispo, a public body, corporate and politic (the "Authority") as "Lessee" and the City of San Luis Obispo (the "City"), as "Lessor", entered into that certain Lease Agreement (Agreement A -24 -91 -CC) for that certain real property situated at 1090 and 1092 Orcutt Road and 1105 Laurel Lane, City of San Luis Obispo, County of San Luis Obispo, California (the "Property"), dated as of April 29, 1991, between the Assignor and City, a memorandum of which lease was recorded in the Official Records of San Luis Obispo County, California (the "Official Records") on September 17, 1993 as Instrument No. 1993-056148 (the "Original Lease"). The Authority's interest in the Original Lease was assigned to SLO Nonprofit Housing Corporation ("SLO") pursuant to an assignment agreement recorded in the Official Records on November 8, 1993, as Instrument No. 1993- 069666. SLO's interest in the Original Lease was subsequently assigned to Laurel Creek Apartments, a California Limited Partnership ("Laurel") pursuant to an assignment agreement recorded in the Official Records on October 20, 1994, as Instrument No. 1994-061783. B. Laurel's interest in the Original Lease was thereafter assigned to Authority pursuant to an assignment agreement recorded in the Official Records on April 10, 2017, as Instrument No. 2017015714. C. On April 4, 2017, the Authority and the City entered into an Amended and Restated Ground Lease (the "Ground Lease") which Ground Lease superseded the terms of the Original Lease. A Memorandum of Ground Lease recorded in the Official Records on April 10, 2017, as Instrument No. 2017-015715 (the "Memorandum"). D. Pursuant to an assignment and assumption agreement recorded in the Official Records on June 26, 2017, as Instrument No. 2017-028138, the Assignor assigned to the Lessee and the Lessee accepted the assignment from the Authority of all of Authority's obligations with respect to the Ground Lease. E It has been determined that the metes and bounds legal description attached to the Ground Lease and the Memorandum was not the most current and correct legal description of the Q- 'k0-70 Property and the description did not close to a point in the beginning. The Lessor and the Lessee desire to amend the Ground Lease and the Memorandum to incorporate the correct legal description as provided in the attached Exhibit A. NOW, THEREFORE, in consideration of the foregoing, of the mutual promises of the parties hereto and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties mutually agree as follows: 1. Amendment to Ground Lease and Memorandum. The Ground Lease and the Memorandum are amended to correct the metes and bounds legal description with the attached Exhibit A. 2. No other Amendments. Except as provided in this Amendment, there are no other amendments to the Ground Lease and Memorandum. 3. Ca italized Terms. Capitalized terms not defined herein shall have the meanings ascribed to them in the Ground Lease. 4. Effective Date. The amendment set forth above shall be effective as of the date of this Amendment. 5. Counter. arts. This Amendment may be signed by different parties hereto in counterparts with the same effect as if the signatures to each counterpart were upon a single instrument. All counterparts shall be deemed an original of this Amendment. 6. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California. [SIGNATURES BEGIN ON FOLLOWING PAGE] IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. LESSOR: City of San Luis Obispo By: q Its: AA o cnr d UGVIti ) LESSEE: SLO 55, L.P., a California limited partnership By: San Luis Obispo Nonprofit Housing Corporation, a California nonprofit public benefit corporation, its managing general partner By: Its: C CLi� [SIGNATURES MUST BE NOTARIZED] EXHIBIT A LEGAL DESCRIPTION THE LAND SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN LUIS OBISPO, CITY OF SAN LUIS OBISPO, DESCRIBED AS FOLLOWS: THAT PORTION OF LOT 3 IN SECTION 1 OF TOWNSHIP 31 SOUTH, RANGE 12 EAST, MOUNT DIABLO BASE AND MERIDIAN, IN THE CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT OF SAID LAND FILED IN THE DISTRICT LAND OFFICE DECEMBER 13, 1875, DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE CENTERLINE OF ORCUTT ROAD, 40 FEET WIDE, WITH THE CENTER LINE OF LAUREL LANE, 40 FEET WIDE; THENCE ALONG THE CENTERLINE OF SAID LAUREL LANE, NORTH 30° 40' EAST, 303.74 FEET; THENCE SOUTH 59°20' EAST 38.00 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTH 59°20' EAST 100.00 FEET; THENCE SOUTH 30'40' WEST 39.89 FEET TO THE NORTHERLY LINE OF THE LAND DESCRIBED IN THE DEED TO HENRY A. BERNARD, ET UX., RECORDED MAY 22, 1953 IN BOOK 711 PAGE 62 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY; THENCE ALONG SAID NORTHERLY LINE, SOUTH 82° 1 T EAST 182.52 FEET TO THE NORTHEASTERLY CORNER OF SAID LAND OF BERNARD; THENCE ALONG THE EASTERLY LINE OF SAID LAND OF BERNARD AS FOLLOWS: FROM A TANGENT LINE BEARING SOUTH 190 56' WEST, SOUTHERLY ALONG A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 175 FEET, THROUGH A CENTRAL ANGLE OF 20°18' AN ARC DISTANCE OF 62 FEET; TANGENT TO SAID CURVE, SOUTH 0° 22' EAST 28.40 FEET AND SOUTHWESTERLY ALONG A TANGENT CURVE, CONCAVE NORTHWESTERLY HAVING A RADIUS OF 20 FEET, THROUGH A CENTRAL ANGLE OF 900, AN ARC DISTANCE OF 31.42 FEET TO THE NORTHERLY LINE OF ORCUTT ROAD, 40 FEET WIDE; THENCE ALONG SAID ORCUTT ROAD, NORTH 89°38' EAST 90 FEET TO THE WESTERLY TERMINUS OF THE COURSE RECITED AS HAVING A BEARING AND LENGTH OF SOUTH 890 38' WEST, 197.00 FEET IN THE DEED TO CHARLES E. FREEMAN AND WIFE, RECORDED MAY 1, 1957, AS INSTRUMENT NO. 6777, IN BOOK 890, PAGE 85 OF OFFICIAL RECORDS, IN THE OFFICE OF SAID COUNTY RECORDER; THENCE ALONG THE WESTERLY BOUNDARY OF THE LAND DESCRIBED IN SAID DEED TO FREEMAN AS FOLLOWS: NORTHWESTERLY ALONG A CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 20 FEET, THROUGH A CENTRAL ANGLE OF AN ARC 90 -AN ARC DISTANCE OF 31.42 FEET; TANGENT TO SAID CURVE NORTH 0° 22' WEST 28.40 FEET, AND NORTHEASTERLY ALONG A TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 125 FEET THROUGH A CENTRAL ANGLE OF 31 °, AN ARC DISTANCE OF 67.63 FEET; THENCE NORTHEASTERLY IN A DIRECT LINE TO THE MOST SOUTHERLY CORNER OF LOT 7 IN BLOCK A OF TRACT NO. 208, AS SHOWN ON MAP RECORDED IN BOOK 6, PAGE 49 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY; THENCE ALONG THE SOUTHWESTERLY LINE OF SAID BLOCK A, NORTH 59°20' WEST 312.70 FEET TO THE MOST WESTERLY CORNER OF LOT 43 IN SAID BLOCK A, THENCE SOUTH 30°40' WEST 90.69 FEET TO THE TRUE POINT OF BEGINNING. (APN 004-962-027) CALIFORNIA NOTARY ACKNOWLEDGEMENT 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 _San Luis Obispo On July 26, 2017 before me, Heather Suzanne Goodwin, Notary Public , (Insert the name and title of the officer) personally appeared Katie Lichtig who proved to me on the basis of satisfactory evidence to be the personxwhose namp4o isly'fi subscribed to the within instrument and acknowledged to me that >61shellhey executed the same in , TWherlpi6ir authorized capacity(*), and that by .hWherl'taeir signatures on the instrument the person ,(Wor the entity upon behalf of which the personal 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. HEATHER SUZANNE GOODWIN a Notary Public - California z San Luis Obispo County Commission # 219a"D My Comm. Expires Jun 21, 2021 WITNESS my hand and official seal. Signature(SEAL) 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. OFFICIAL CALIFORNIA NOTARIAL CERTIFICATE Acknowledgment STATE OF CALIFORNIA ) ) ss COUNTY OF SAN LUIS OBISPO) On v 2* .a -I before me, Victoria L. Connerley, Notary Public, personally appeared Ken Litzinger, 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 California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. VICTOMA L. CQirNERLEY c�a . $I zvrxaia NOTARY SCAJAOMM SAN -LUIS OBISPO COUNTY Comm. Eq. JUNE 27 201 lb Victoria L. Connerle0lotary Public END OF DOCUMENT