HomeMy WebLinkAboutRDA Res 85-4 1985-10-28
RESOLUTION NUMBER ~~--~
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE
CITY OF SEAL BEACH, CALIFORNIA, APPROVING A
SECOND AMENDED AND RESTATED DECLARATION OF
ESTABLISHMENT OF COVENANTS FOR THE SEAL BEACH
TRAILER PARK
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WHEREAS, a Participation and Disposition Agreement was entered
into between the Agency and Seal Beach Associates dated
July 25, 1977 for development of the Seal Beach Trailer
Park, as amended by a First Amendment dated as of January
30, 1978, by a Second Amendment dated as of April 24,
1978, and as amended by an Amended Participation and
Disposition Agreement dated July 14, 1981 between the
Agency and Riverbeach Associates; and
WHEREAS, Riverbeach Associates proposes to sell the land and
improvements of the Seal Beach Trailer Park to Seal Beach
Partners, Ltd. and refinance the current loan; and
WHEREAS, the Riverbeach Associates has proposed an amendment to
the existing Amended Declaration of Establishment of
Covenants in the form of an Amended and Restated Declaration
of Establishment of Covenants.
NOW, THEREFORE, the Redevelopment Agency of the City of Seal Beach
hereby resolves as follows:
SECTION 1. The Agency hereby approves the Amended and Restated
Declaration of Establishment of Covenants in t~e form
as attached hereto as Exhibit A.
SECTION 2. The Executive Director or the Deputy Executive Director
are hereby authorized to execute the Amended and Restated
Declaration on behalf of the Agency.
SECTION 3. The Executive Director or the Deputy Executive Director
are hereby authorized to take all action necessary
to carry out such Amended Declaration and are further
authorized to make such technical changes to the Amended
Declaration as may be reasonably required by Coast
Savings & Loan.
PASSED, APPROVED and ADOPTED by the Redevelopment Agency of the
~~f Seal B ,Califor "a, at a meeting thereof held on the
_day of 1985, by the following vote:
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AYES: Agency Members
NOES: Agency Members
ABSENT: Agency Members
w.,4 ·
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ATTEST:
Resolution Number ~S;-~
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF SEAL BEACH )
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I, Joanne M. Yeo, City Clerk of the City of Seal Beach, California, do
hereby certify that the ~egOing resolution is the original copy of
Resolution Number B's- on file in the office of the City Clerk,
passed, approved and adopted by the Redevelopment Agency of the City
of se~e~gUlar meeting thereof held on the ozB'I:f: day
of a , 1985. .
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Resolution Number 6?~~~
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RECORDING REQUESTED BY AND
WHEN RECORDED, RETURN TO:
Redevelopment Aqency of the
City of Seal Beach
2ll Eiqhth Street
Seal Beach, California 90740
AilBlO)iID AIID RBSTATJW DBCLAiCAT.lUII Or
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BSTABLISJIMEH'f' OP COVENAR"l'S
This Amended and Restated Declaration of Establishment of
Covenants (-Amended and Restated Declaration-) is entered into by
and between the REDEVELOPMENT AGENCY OF THE CITY OF SEAL BEACH
(-Agency-), a public body corporate and politic, formed and
orqanized and existinq under the provisions of the California
Community Redevelopment Law, and RIVERBEACH ASSOCIATES (-River-
beach-), a limited partnership.
51.00 RECITALS
This Amended and Restated Declaration is beinq entered into
with reference to the followinq facts and circumstances:
51.01 The City of Seal Beacb (the -City-) approved and
adopted a certain redevelopment plan by Ordinance No. 780, as
amended by Ordinance Nos. 937 and 983, for a project area located
within the boundaries of the City in Orange County, State of
California, entitled the Riverfront Redevelopment Project (the I
WProjectW).
51.02 A portion of the Project area was developed by River-
beach as a Mobile Home and Trailer Park (-Trailer Park-I.
51.03 East Naples Land Company was the owner of certain
parcels of land which constitute the Site of the Trailer Park
(the -Site-), which is leqally described on Exhibit A, attached
hereto and made a part hereof.
51.04 East Naples Land Company was the Lessor and River-
beach was the Lessee of the Site under that certain Lease Agree-
ment dated October 3, 1977, which was shown in the Memorandum of
Lease and recorded on June 30, 1978, as Document No. 47347,
Official Records of Orange County, C~lifornia (the -Master
Lease-).
51.05 Riverbeach purchased the fee estate of the Site from
East Naples Land Company on December 19, 1983, as evidenced by
qrant deeds dated December 5, 1983, and recorded on December 19,
1983, as Document No. 83-5748l, Official Records of Oranqe
County, California; and recorded on December 19, 1983, as Docu-
ment No. 83-1504528, Official Records of Los Anqeles County,
California.
51.06 The Trailer Park has been developed with l25 lots for
mobile homes and trailers pursuant to plans submitted to and
approved by Aqency.
Sl.07 Agency and Riverbeach desire to amend the rental
schedule for the Trailer Park which will apply to rental rates
during the term hereof.
51.08 Aqency and Riverbeach also desire to provide for the
maintenance of 120 of the lots and any trailers or mobile homes
owned by Riverbeach or its successor for rental by persons and
families of low and moderate income.
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Resolution Number ~~--~
5l.0' Seal Beach Partners, Ltd., a California limited part-
nership (WPartnersW) is purchasing both the fee title to the Site
and the improvements thereon identified as the Trailer Park from
Riverbeach pursuant to a separate agreement.
51.lD This Amended and Restated Declaration shall replace
and amend in its entirety that Amended Declaration of Establish-
ment of Covenants dated July 2l, 1981, and recorded November 24,
1981 as Document No. 2753l, Official Records of Orange County,
. California.
52.00 COVBlIARTS
Agency and Riverbeach covenant and agree as follows:
52.0l Rental Rates.
(l) Riverbeach's current monthly expenses based on the
itemization of items to be attributed to rent pursuant to 52.02
hereof are attached hereto as Exhibit B and made a part hereof.
(2) Partner's proposed monthly expenses pursuant to 52.02
hereof and based on its purchase of both the fee title to the
Site and the improvements thereon identified as the Trailer Park
from Riverbeach pursuant to a separate agreement, and as limited
by subsection (4) of 52.02 hereof, are attached hereto as Exhibit
C and made a part hereof.
(3) The total monthly rental, based on Exhibit C hereof,
and effective January l, 1986, is hereby approved by Agency.
Said monthly rental shall be subject to allocation by Partners to
the lots based upon the rental schedule set forth in Exhibit D,
attached hereto and made a part hereof. Any increase or decrease
in rental shall be allocated among the lots by an amount equal to
the percentage increase or decrease in total rental for the
Trailer Park.
52.02 Rental Adjustment. The monthly rental established in
accordance with subsection (2) of 52.0l hereof shall be increased
or decreased on an annual basis commencing January 1, 1987 and
each year thereafter during the term of this Amended and Restated
Declaration (wAdjustment DateW) to reflect:
(l) Increases in lease payments for ground rent provided in
the Master Lease, which Master Lease provides for a One Percent
UI) per annum increase in rental every five (5) years. If the
Heeter Leaee ie terminated by virtue of Partner's purchase of fee
title to the Site from Riverbeach, the leasehold payments shall
be excluded from the monthly rental, but the Four Hundred Thou-
sand Dollars ($400,000.00) purchase price and financing costs for
such purchase may be included in permanent financing obtained by
Partners as provided in subsection (4), below;
(2) Increases or decreases for property taxes and assess-
ments (exclusive of penalties or late charges), utility expenses,
property and liability insurance, reasonable legal and accounting
expenses, repairs and maintenance, reasonable automobile
expenses, reasonable dues and subscriptions, and supplies based
on actual out-of-pocket expenses to Riverbeach or its successor
in interest in the Trailer Park.
(3) Expenses consisting of: salaries and wages, including
payroll taxes, for management of the Trailer Park; overhead and
management; all as set forth on Exhibit
B, shall be subject to increase or decrease as provided in this
subsection (3) of 52.02. The base for computing the adjustment
shall be the Consumer Price index.for Urban Wage Earners and
Clerical Workers for the Los Angeles-Long Beach-Anaheim Metro-
politan Area, published by the United States Department of Labor,
Bureau of Labor Statistics (WIndexW), which is published for the
date nearest November 16, 1985 (WBeginning IndexW). If the Index
published nearest the Adjustment Date (WAdjustment IndexW) has
Resolution Number85-9-
increased or decreased from the Beginning Index, the monthly
amount of the expenses listed in this subsection (3) of 52.02 to
be included in the monthly rental for the year following the
Adjustment Date (until the next year's adjustment) shall be set
by multiplying the amount of such expenses, as established pur-
suant to S2.0l by a fraction, the numerator of which is the
Adjustment Index and the denominator of which is the Beginning
Index. The resulting amount shall be used as the expenses to be
included in determining the total monthly rental for the year
following the Adjustment Date. If the Index is discontinued or
revised, such other government index or computation with which it
is replaced shall be used in order to obtain substantially the
same result as would be obtained in the Index had not been dis-
continued or revised.
(41 Increases or decreases in the loan payment expense to
reflect actual monthly loan amortization expense. The Trailer
Park may be refinanced for the purchase of the Site and Trailer
Park by Partners (hereinafter referred to as the wRefinance
LoanW) provided that the total principal amount of such Refinance
Loan which constitutes a lien against the Site and Trailer Park
shall not exceed One Million Seven Hundred Thousand Dollars
($l,700,000.001 and the monthly debt service which may be
included in the rent formula does not exceed Eighty-Four Percent
(8411 of the total monthly debt service. At such time as such
Refinance Loan is obtained, but in no event prior to January l,
1986, the monthly rental shall be adjusted to reflect any
increase or decrease in monthly debt service on the portion of
the lOAn equal to One Million Pour Hundred Twenty-Eight Thousand
Dollars ($l,428,000.001. If the Refinance Loan is a variable
interest rate loan, the monthly rental shall be increased or
decreased to reflect any increase or decrease in monthly debt
service on Eighty-Pour Percent (84\) of the then-outstanding
balance of the loan. The debt service on such portion of the
loan in excess of Eighty-Pour Percent (841) of said balance shall
not be included in the monthly rental.
(5) In the event that capital expenditures are made to the
Trailer Park "after completion of construction pursuant to plans
and specifications approved by Agency, Riverbeach shall be
entitle1 to increase the monthly rental by an amount sufficient
to amortize any capital expenditure over the reasonable life of
the investment at Riverbeach's cost plus a return on investment
not to exceed Two Percent (21) above the prime lending rate of
Bank of America, N.T. 'S.A. A capital expenditure is defined as
an improvement to the real property of the Trailer Park which the
Internal Revenue Service rules and regulations require to be
depreciated over the life of the improvement.
(6) If the lender of the Refinance Loan or any successor in
interest of such lender's interest in the Trailer Park acquires
fee title to the Site and the Trailer Park, the lender of such
successor in interest shall be bound by this Amended and Restated
Declaration. However, the lender or any successor in interest
through the lender shall be permitted to include as a part of the
monthly rental an amount equal to the monthly debt service on
that portion of the Refinance Loan which equals One Million Four
Hundred Twenty-Eight Thousand Dollars ($1,428,000.001 even though
such Refinance Loan may have been canceled and any lien of such
Refinance Loan canceled/or reconveyed. The amount equal to such
debt service shall be subject to increase or decrease on the same
terms and conditions as the variable rate provisions of the
Refinance Loan. The lender of the Refinance Loan or successor in
interest of such lender who acquires fee title to the Site and
the Trailer Park may obtain a new loan which is a lien against
the Site and the Trailer Park for a principal amount of not in
excess of One Million Seven Hundred Thousand Dollars
($1,700,000.00) with the consent of Agency, which consent shall
not be unreasonably withheld, provided that (lJ the interest rate
and debt service amortization do not exceed the interest rate and
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Resolution Number ~~--~
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amortization schedule of the Refinance Loan, and (2) only the
debt service on the portion of the loan equal to One Mi llion Four
Hundred Twenty-Eight Thousand Dollars ($1,428,000.00) may be
included in the monthly rent for the Trailer Park.
(7) Upon repayment in full of the Refinance Loan, Partners
or its successor in interest shall be permitted to include as a
part of the monthly rental an amount equal to Eighty-Four Percent
(841) of the last full monthly debt service payment. Said amount
shall be treated as a return on investment expense and shall be
subject to adjustment in accordance wth subsection (3) of this
52.02.
52.03 Notice of Rental Increases or Decreases. At such
time as Riverbeach is entitled to increase the monthly rental or
is required to decrease the monthly rental under the terms of
52.02, Riverbeach agrees to give written notice to Agency of the
proposed change in rental rates not later than sixty (60) days on
or before giving written notice of increase or decrease to the
tenants of the Trailer Park. Agency approval shall be required,
unless waived by Agency, before Riverbeach may make such change
in rental. Agency shall have the right to dispute any increase
by giving written notice to Riverbeach within thirty (30) days
after receipt'of the written notice from Riverbeach. Such Agency
notice shall specify the basis upon which Agency is disputing
such increase under the terms of this Amended and Restated
Declaration. If Agency fails to either approve or dispute such
increase within such thirty (30) days, Agency approval shall be
deemed to be waived. If Agency and Riverbeach cannot resolve any
dispute within an additional thirty (30) days after Agency's
written notice to Riverbeach, then either Riverbeach or Agency
may take such legal action as may be appropriate to enforce the
terms hereof.
52.04 Maintenance of Lots for Persons and Families of
Low and Moderate Income Persons.
(l) Riverbeach agrees that not less than One Hundred and
Twenty (l20) of the trailer lots (including any trailers on such
lots owned and leased by Riverbeach or its sublessee) shall be
maintained as a housing resource for persons and families of low
and moderate income as those terms are defined in California
Health and Safety Code 550093 in effect as of the date of this
Amended and Restated Declaration, and as it may be amended
throughout the term hereof.
(2) Not less than half of said units (i.e., sixty [60] lots
on the Site) shall be maintained for persons and families of low
income as defined in California Health' Safety Code 550093 in
effect as of the date of this Amended and Restated Declaration,
and as it may be amended throughout the term hereof.
(3) Riverbeach shall cooperate with Agency in accepting
persons and families of low and moderate income referred by
Agency or the City for rental of trailers or pad spaces as they
become available within the Site. Notwithstanding such agreement
to cooperate with Agency and the City in considering referral of
persons and families of low and moderate income, the final selec-
tion of tenants Shall be the decision of Riverbeach. In the
event that persons meeting the requirements of subsections (l)
and (2) of this 52.04 are not ftvailable to rent vacant trailer
lots or cannot afford the then current monthly rental after
reasonable efforts by Riverbeach to locate such persons, includ-
ing written notice to Agency and the City of any vacancies,
Riverbeach may rent such vacant lots to persons and families
having incomes above the limits set forth in subsections (l) and
(2) of this 52.04.
(4) Riverbeach shall be required to determine of each
tenant referred to in subsections (1) and (2) of this 52.04 that
such tenant is of low or moderate income as defined herein. .
Resolution Number ~~-~
(5) Agency may examine, at least once per year, any rele-
vant records of operation by Riverbeach's Trailer Park manage-
ment, subjct to the confidentiality of individual tenant finan-
cial information, to insure that such income determinations have
been appropriately performed by Riverbeach in fulfilling the
standards set forth in subsections (1) and (2) of this 52.04.
(6) Upon dissolution or cessation of operation of Agency,
the City shall undertake the duties imposed upon Agency by sub-
section (5) of this 52.04.
52.05 Duration of this Declaration. If the Master Lease is I
terminated by Partner's purchase of fee title to the Site from
Riverbeach, or terminates for any reason other than expiration of
the term of the Master Lease, this Amended and Restated Declara-
tion shall remain in effect until February l, 2044, at which time
all covenants and restrictions herein shall terminate.
53.00 GBRBllAL
53.0l The burdens and benefits of all covenants and agree-
ments contained herein shall run with the leasehold and any fee
interest of Riverbeach in the Site. All burdens shall be binding
upon Riverbeach so long as it has an interest in the Site and
shall be binding upon any successor or assign of Riverbeach in
the Site, including any sublessee of Riverbeach. The benefits of
this Amended and Restated Declaration shall accrue to the benefit
of Agency.
53.02 Notice of Amendments
(1) Any amendment to this Amended and Restated Declaration
or the Exhibits hereto shall require the consent of (1) Partners
so long as Partners is the tenant or lessee of the Site, and (2)
the beneficiary of any deed of trust secured by the leasehold
interest of Riverbeach in the Site. Any amendment shall not 1
require the consent of any other lienholder whether such lien
arises voluntarly or involuntarily.
(2) Agency and Riverbeach, its successors and assigns, from
time to time, shall have the right to consent and agree to
changes in, or to eliminate in whole or in part, any of the
covenants or restrictions contained herein, or to subject the
leasehold interest of Riverbeach to additional covenants or
restrictions, without the consent of any tenant, lessee, easement
holder, licensee or any other person or entity except: (l)
Partners, so long as Partners is the tenant or lessee of the
Site, and (2) the beneficiary of any deed of trust secured by the
leasehold interest of Riverbeach or secured by fee title to the
Site.
(3) Before any amendment hereto is approved by Agency,
Riverbeach (or its successor in interest in the Trailer Park)
shall give not less than thirty (30) days written notice deli-
vered personally or by United States mail, postage prepaid, to
the tenants of the Trailer Park as shown on the then current
register of tenants maintained by the then current operator of
the Trailer Park. Such notice shall contain the text of any
proposed amendment.
53.03 Agency has the right at all reasonable times to I
inspect the books and records of Riverbeach and its successors
and assigns in the Site pertaining to the Site as pertinent to
the purposes hereof. Riverbeach also has the right at all
reasonable times to inspect the books and records of Agency
pertaining to the Site as pertinent to the purposes hereof.
53.04 Riverbeach covenants by and for Riverbeach and its
assigns, and all persons claiming under or through Riverbeach,
that there shall be no discrimination against or segregation of,
any person or group of persons on account of race, color, creed,
religion, sex, marital status, national origin, or ancestry in
the sale, lease, sublease, transfer, use, occupancy, tenure or
enjoyment of the Site, nor shall Riverbeach or any person claim-
ing under or through Riverbeach, establish or permit any such
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Resolution Number ~~-~
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practice or practices of discrimination or segregation with
reference to the selection, location, number, use or occupancy of
tenants, lessees, subtenants, sublessees, or vendees in the Site
~he foregoing covenants shall run with the leasehold and fe~
interests of Riverbeach in the Site, and shall obligate River-
bfeach and any subcontracting party or parties, or other trans-
ereelS hereunder.
53.05 In the event Agency shall be dissolved or its
suspended, the City shall be the suceessor in interest to ~Og:~~yS
of all rights and benefits hereof.
S3.05 Upon conveyance of fee title to the Site by River-
beach to Partners, Partners shall sueceed to all of the rights
and obligations of Riverbeach hereunder and at such time River-
beach shall be fully relieved of same.
53.06 Construction of Two-Story Cabanas.
(l) In order to insure the continued attractiveness of the
~railer Park and to insure the continuation of adequate space for
light and air of lots within the Trailer Park, and to minimize
any fire hazards, Riverbeach agrees that it shall not construct
or permit any tenants of the Trailer Park to construct or install
a cabana in excess of one (l) story in height, if any such cabana
would be located within twenty (20) feet of any structure or cabana
in excess of fifteen (l5} !pct in height.
(2) Riverbeach further agrees that it shall require any
tenant who commences construction of a cabana but who has not
completed construction within seve" h"n~~A~ thirty (730) days
from the date of issuance of a building permit for such cabana to
remove such structure from the Trailer Park.
(3) If Riverbeach fails to take action to enforce the
requirements of this 53.06 within sixty (60) days after written
notice from Agency of a violation of this 53.06, Agency may bring
any appropriate legal or equitable proceedings against any person
having interest in the Trailer Park, including any tenant. In
the event proceedings are brought by any party or parties to
enforce or restrain violation of any of these restrictions, or to
determine the rights or duties of any person hereunder, the
prevailing party in such proceedings may recover all costs and
reasonable attorneys' fees to be fixed by the court, in addition
to court costs and any other relief awarded by the court in such
proceedings.
ZR WZTNBSS WBBRBOF, Agency and Riverbeach have caused this
instrument to be executed on their behalf by t~~esp~tive
~thorized officers this JJfI~ day of, t(e, ,
REDEVELOPMENT AGENCY OF ~BE
CITY OF SEAL BEACH
RIVERBEACB ASSOCIATES,
A Limited Partnership
By:
General Partner
By:
Consent to this Amended and Resated Declaration of Establishment
of Covenants is hereby given pursuant to 53.02.
SEAL BEACH PARTNERS, LTD.,
A California Limited Partnership
By: William T. Dawson,
General Partner
Resolution Number ~~~
Consent to this Amended and Restated Declaration
of Covenants is hereby given pursuant to 53.02.
COAST SAVINGS AND LOAN ASSOCIATION,
formerly COAST FEDERAL SAVINGS AND
LOAN ASSOCIATION,
as beneficiary of the deed of trust
of Riverbeach Associates recorded
January 30, 1980, as Document No.
35497 in Official Records of Orange
County, California.
of Establishment
By:
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By:
STATE OP CALIFORNIA
)
) Slil.
)
COUNTY OF ORANGE
, On ,f)'_'T1':Ji''f~.-?: .~I !>1'" , /?PC, before me, the under-
signed, a Notary Public in and for said State. personally
appeared ALLEN J. PARKER, known to me to be the Executive Direc-
tor of the Redevelopment Agency of the City of Seal Beach, and
known to me to be the person who executed the within instrument
on behalf of said public agency and acknowledged to me that such
agency executed the same.
WITNESS my hand and official seal.
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l-~ JO~i~I~~~1~~~:\
,G~~.;\ N~TARY PUBLI::-.c'UFORIU" i
. "f.)_~V. PRllt\:IP'.l :J::'!'lCE IN (
~ "'S;-~" CiiANGE CQU".TY .
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COUNTY OP
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STATE OP CALIFORNIA
On ., before me, the under-
signed, a Notary Public in and for said State, personally
appeared . known to me to be the General
Partner of the limited partnership which executed the within
instrument and acknowledged to me that such limited partnership
executed the same. .
WITNESS my hand and official seal.
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Resolution Number B!i'-4
STATE OF CALIFORNIA
COUNTY OF ORANGE
)
) ss.
)
On " before me, the under-
signed, a Notary Public in and for said State, personally
appeared WILLIAM T. DAWSON, known to me to be the General Partner
of the limited partnership which executed the within instrument
and acknowledged to me that such limited partnership executed the
same.
WITNESS my hand and official seal.
STATE OP CALIFORNIA
)
) ss.
)
COUNTY OF
, , before me, the under-
Public in and for said State, personally
, known to me to be the
and , known to
me to be the of the corporation which
executed the within instrument, known to me to be the persons who
executed the within instrument on behalf of the corporation
therein named, and acknowledged to me that such corporation
executed the within instrument pursuant to its bylaws or a reso-
lution of its board of directors.
On
signed, a Notary
appeared
WITNESS my hand and official seal.
Resolution Number l7Jr-~
BXBIBI"l' A
Legal Description
A PORTION OP THAT PARCEL OF LAND GRANTED TO THE CITY OP SEAL
BEACH BY THAT CERTAIN PINAL ORDER OF CONDEMNATION, SUPERIOR COURT
OF LOS ANGELES COUNTY, CASE NUMBER C-78004, PARCEL 4, A CERTIFIED
COpy OP WHICH WAS RECORDED MARCH 2, 1977 IN BOOK l2l15, PAGE 195
OF OFFICIAL RECORDS OP ORANGE COUNTY, CALIFORNIA; AND A PORTION
OP TIDE LAND LOCATION NO. l37 -SURVEY NO. 106,. AS PATENTED BY
THE STATE OF CALIFORNIA ON FEBRUARY 12, 1901 AND RECORDED APRIL I
27, 1901 IN BOOK 9, PAGE 105 OF PATENTS, RECORDS OF LOS ANGELES
COUNTY. AND RECORDED SEPTEMBER 5, 1905 IN BOOK 1, PAGE 231 OF
PATENTS, RECORDS OF ORAGE COUNTY; SAID ABOVE PORTIONS OF LAND
BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST NORTHERLY CORNER OP TRACT NUMBER 9783 IN
THE CITY OF SEAL BEACH, COUNTY OF ORANGE, STATE OP CALIFORNIA AS
SHOWN ON A MAP PILED IN BOOK 437, PAGES 32 TO 36, OF MISCELLA-
NEOUS MAPS RECORDS OP ORANGE COUNTY, SAID CORNER BEING A POINT IN
THE SOUTHEASTHERLY LINE OF THE LOS ANGELES COUNTY FLOOD CONTROL
DISTRICT LAND DESCRIBED AS PARCEL 8 IN S.C.C. NO. 231287 IN AND
POR THE COUNTY OP LOS ANGELES, IN BOOK 2383, PAGE 42, RECORDS OF
ORANGE COUNTY, SAID SOUTHEASTERLY LINE BEING A CURVE CONCAVE
SOUTHEASTERLY AND HAVING A RADIUS OF 2000.00 FEET, A RADIAL LINE
FROM SAID POINT BEARS SOUTH 350 57' 55. EAST, THENCE NORTH-
EASTERLY ALONG SAID CURVE AND SOUTHEASTERLY LINE AN ARC DISTANCE
OP 356.05 FEET; THENCE TANGENT TO SAID CURVE AND CONTINUING ALONG
SAID SOUTHEASTERLY LINE NORTH 540 02' 05. EAST 239.79 FEET TO THE
NORTHEASTERLY LINE OP THAT 200.00 FOOT WIDE STRIP OP LAND
DESCRIBED IN THE QUIT CLAIM DEED TO THE PACIFIC ELECTRIC RAILWAY
COMPANY RECORDED PEBRUARY 21, 1924 IN BOOK 5l4, PAGE 44 OF DEEDS,
RECORDS OP ORANGE COUNTY, THENCE SOUTHEASTERLY ALONG SAID NORTH-
EASTERLY LINE SOUTH 420 l5' 32. EAST 492.08 PEET TO THE NORTH-
WESTERLY LINE OP PIRST STREET AS IT NOW EXISTS, SAID LAST
MENTIONED NORTHWESTERLY LINE BEING A LINE PARALL~L WITH AND I
DISTANT NORTHWESTERLY llO.OO FEET, MEASURED AT RIGHT ANGLES, FROM
THE BOUNDARY LINE OP THE RANCHO LOS ALAMlTOS PER MAP RECORDED IN
BOOK l, PAGES 460, 461 AND 462 OP PATENTS OF LOS ANGELES COUNTY,
CALIFORNIA AND AS SHOWN ON RECORD OF SURVEY RECORDED IN R.S. BOOK
90, PAGES 23 TO 30; AND AS MORE PARTICULARLY ESTABLISHED BY SEAL
BEACH BOUNDARY LINE AGREEMENT NO.2, DATED FEBRUARY 5, 1968 AND
RECORDED APRIL 8, 1968 IN BOOK 8565, PAGE 1 OP OFPICIAL RECORDS
OP ORANGE COUNTY, THENCE SOUTHWESTERLY ALONG SAID LAST MENTIONED
PARALLEL LINE, AND THE NORTHWESTERLY LINE OP FIRST STREET, SOUTH
540 48' 38. WEST 606.8l FEET TO THE BEGINNING OP A TANGENT CURVE,
CONCAVE SOUTHEASTERLY, AND HAVING A RADIUS OF 610.00 FEET, THENCE
SOUTHWESTERL ALONG SAID CURVE AN ARC DISTANCE OP 6.79 PEET TO THE
MOST EASTERLY BOUNDARY CORNER OP SAID TRACT NUMBER 9783, THENCE
NORTHWESTERLY ALONG THE NORTHEASTERLY BOUNDARY LINE OP SAID TRACT
NUMBER 9783 THE FOLLOWING COURSES; NORTH 420 l7' ll. WEST 203.39
PEET TO THE BEGINNING OP A TANGENT CURVE CONCAVE EASTERLY AND
RAVING A RADIUS OP l5.00 PEET; THENCE NORTHERLY ALONG SAID CURVE
AN ARC DISTANCE OF 21.79 FEET TO THE BEGINNING OF A REVERSE CURVE
CONCAVE NORTHWESTERLY AND HAVING A RADIUS OP l12.50 FEET: THENCE
NORTHEASTERLY ALONG SAID CURVE AN ARC DISTANCE OF 10.24 PEET TO
THE INTERSECTION OF A NON-TANGENT LINE BEARING NORTH 430 58' 37.
WEST, A LINE FROM SAID POINT OP INTERSECTION BEARS NORTH 540 l5'
24. WEST; THENCE NORTH 430 58' 37- WEST 230.28 FEET TO THE MOST
NORTHERLY CORNER OP SAID TRACT NUMBER 9783 AND THE POINT OP
BEGINNING. SAID ABOVE DESCRIBED PARCEL OP LAND IS SHOWN AS -NOT I
A PART. ON THE MAP OF TRACT NUMBER 9783 PILED IN BOOK 437, PAGES
32 TO 36, OF MISCELLANEOUS MAPS, RECORDS OP ORANGE COUNTY,
CALIPORNIA.
EXCEPTING THEREFROM THAT PORTION LYING NORTHWESTERLY OP THE BOUN-
DARY LINE BETWEEN LOS ANGELES AND ORANGE COUNTIES AS SHOWN ON LOS
ANGELES COUNTY SURVEYOR'S MAP NO. 8l75, SHEET 21, AND AS SHOWN ON
SAID MAP OF TRACT NUMBER 9783.
Resolution Number ~.yI
BXBIBI'l' B
Current Monthly bpeDses - Riverbeacb
1
1985 ,'l'OTAL ALLOWABLE RENT
$ 3,500.00
11,060.00
298.35
.83
1,881.69
325.66
245.85
745.45
1,500.60
2,754.70
260.04
193.26
3,443.22
2,354.00
2.130.74
$ 30,694.39
Ground Rent
Loan Payment
Auto
Dues & Subscriptions
Insurance
Legal & Accounting
Operating Supplies
Taxes & Licenses
Repairs & Maintenance
Salaries & Wages
Taxes - Payroll
Telephone
Overhead & Management
Return on Investment
Utilities
I
I
Resolution Number ~~-~
BXBIBIT C
Proposed Monthly 1btpenses - Effective January 1, 19B6
Seal Beacb Partners, Ltd. P_ Title Purchase
I
Loan Payment
Auto
Dues , Subscriptions
Insurance
Leqal , Accounting
Operatinq Supplies
Taxes , Licenses
Repairs , Maintenance
Salaries , Waqes
Taxes - Payroll
Telephone
Overhead , Manaqement
Return on Investment
Utilities
$ 13,33B.00
298.35
.B3
l,881.69
325.66
245.85
1985 TOTAL ALLOWABLE RENT
745.45
1,500.60
2,754.70
260.04
193.26
3,443.22
2,354.00
2,130.74
$ 29,472.39
I
I
Resolution Number ~~~
BXBIBI'l' D
Space Rental Schedule Bffective January 1, 1986
Based OD Proposed JIonthl!, h_nses
I Seal Beach PartDers, Ltd. Pee 'l'i tIe Purchase
5 Lots @ $ 148.00 $ 740.00
3 Lots @ $ l54.00 462.00
5 Lots @ $ l60.00 800.00
1 Let " $ ,171.00 l71. 00
~
13 Lots @ $ 178.00 2,314.00
2 Lots @ $ l83.00 366.00
1 Lot @ $ 189.00 189.00
7 Lots @ $ 191.00 l,337.00
1 Lot @ $ 195.00 195.00
2 Lots @ $ 201. 00 402.00
4 Lots @ $ 2l2.00 848.00
6 Lots @ $ 225.00 l,350.00
lO. Lots @ $ 230.00 2,300.00
1 Lot @ $ 249.00 249.00
44 Lots @. $ 265.00 11,660.00
1 Lot @ $ 278.00 278.00
14 Lots @ $ 294.00 4,116.00
2 Lots @ $ 308.00 6l6.00
1 Lot @ $ 313.00 313.00
2 Lots @ $ 383.00 766.00
I 1985 TOTAL MONTHLY INCOME $ 29,472.00
I