HomeMy WebLinkAboutCC Res 7252 2022-02-14RESOLUTION 7252
A RESOLUTION OF THE SEAL BEACH CITY COUNCIL
APPROVING AND AUTHORIZING THE CITY MANAGER TO
EXECUTE A TERMINATION OF MAINTENANCE AGREEMENT
AND AGREEMENT REGARDING ONGOING MAINTENANCE
FOR OLD RANCH PARKWAY
WHEREAS, TERRA FUNDING — BIXBY RANCH, LLC ("Ground Lessor") is the
owner of certain real property located in the City of Seal Beach, County of
Orange, State of California, more particularly described on Exhibit A (the
"Property"). The Property includes Parcels 1, 2, 3 and 4, as shown on Exhibit C;
and,
WHEREAS, PCPI BIXBY, LP ("Ground Lessee") is the holder of a 99 -year
leasehold interest in the Property, pursuant to that certain Ground Lease dated
as of January 10, 2013, a memorandum of which was recorded in the Official
Records of Orange County, California (the "Official Records") on May 16, 2013,
under Instrument No. 2013000297764 (as amended from time to time, the
"Ground Lease"); and,
WHEREAS, the City of Seal Beach ("City") is the owner of that certain public right
of way located in the City of Seal Beach, County of Orange, State of California,
more particularly described on Exhibit B (the "Old Ranch Parkway"). Old Ranch
Parkway is also identified as Parcel 6, as shown on Exhibit C; and,
WHEREAS, the City and Bixby Ranch Company, a California limited partnership
(a predecessor owner of the Property), entered into that certain Maintenance
Agreement, dated as of September 24, 1987, and recorded in the Official
Records on September 30, 1987, as Instrument No. 87-551047 (the
"Maintenance Agreement"). The Maintenance Agreement runs with the land
and is, therefore, currently between Bixby (i.e., as of the date hereof, Ground
Lessor and Ground Lessee) and the City, each of which is identified as an
"Owner" under the Maintenance Agreement; and,
WHEREAS, the circumstances and uses of the Property and Old Ranch Parkway
have changed significantly since the date of the Maintenance Agreement, the
parties now desire (i) to terminate the Maintenance Agreement, and (ii) to
document their new agreement with respect to the maintenance of certain
improvements located on Old Ranch Parkway.
NOW, THEREFORE, THE SEAL BEACH CITY COUNCIL DOES HEREBY
RESOLVE:
Section 1. The City Council hereby approves the Termination of Maintenance
Agreement and Agreement Regarding Ongoing Maintenance with
TERRA FUNDING — BIXBY RANCH, LLC, AND PCPI BIXBY, LP.
Section 2. The City Council hereby authorizes the City Manager to execute
the Termination of Maintenance Agreement and Agreement
Regarding Ongoing Maintenance.
Section 3. The City Clerk is hereby directed to record the Termination of
Maintenance Agreement and Agreement Regarding Ongoing
Maintenance with the Orange County Clerk -Recorder.
PASSED, APPROVED AND ADOPTED by the Seal Beach City Council at a
regular meeting held on the 14th day of February, 2022 by the following vote:
AYES: Council Members Kalmiclt, Moore, Sustarsic, Varipapa. Massa-Lavitt
NOES: Council Members
ABSENT: Council Members
ABSTAIN: Council Members
W
loria D. Harper, City Clerl�,. ._
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14A;6_
Joe Kalmick, Mayor
STATE OF CALIFORNIA }
COUNTY OF ORANGE } SS
CITY OF SEAL BEACH }
I, Gloria D. Harper, City Clerk of the City of Seal Beach, do hereby certify that the
foregoing resolution is the original copy of Resolution 7252 on file in the office of
the City Clerk, passed, approved, and adopted by the City Council at a regular
mee ing hq d! on the 14th day of February, 2022.
GI ria D. Har, er, Ciiy Clerk
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