GRAND PLAN I & II 1 - Laserfiche WebLink

Home Browse Search

ESTOPPEL CERTIFICATE May 9, 2007 From: The City of Santa Ana 20 Civic Center Plaza Santa Ana, California 92701 Attn: David N. Ream, City Manager Telephone No.: (714) 647-5200 Facsimile No.: (714) 647-6954 The undersigned, the City of Santa Ana ("City") is a party to that certain Development Agreement recorded in the official records of Orange County, California on July 21, 2005 as Document Number 2005000565108 (the "Agreement"), by and between the City on one hand, and The Grand Plan 1, LLC, a California limited liability company and The Grand Plan 2, LLC, a California limited liability company (collectively "Nexus") on the other hand, with respect to the real property described therein (the "Property"). The City understands that Nexus ~ subsequently conveyed -a portion of the Property to Integral Communities I, a Delaware corporation ("Integral"). City has been advised .that an affiliate of Integral is obtaining a loan from Fremont Investment & Loan, a California industrial bank (together with its successors and. assigns, "Lender") having a notice address of 2727 East Imperial Highway, Brea, California 9282, Loan No. 950115127. City hereby states to Lender as follows: 1. The Agreement has not been amended. 2. The Agreement is presently in full force and effect according to its terms. 3. To the best of the City's actual knowledge after reasonable inquiry, neither the City nor Integral is in default under the Agreement. This Statement does not (a) constitute a waiver of any rights the City may have under the Agreement, or (b) modify, alter, waive, or change any of the terms or conditions of the Agreement nor otherwise constitute any discharge or waiver of any claims that the City has, or may have, against Integral. No officer or employee signing this Statement on behalf of the City shall have any liability as a result of having given this statement. The statements contained in this Statement are not affirmative representations, warranties, covenants or waivers, and the City shall not be liable to Integral, Lender or any third party on account of any information herein contained, notwithstanding the failure, for any reason, to disclose and/or correct relevant information. Notwithstanding the preceding sentence, the City shall be estopped from asserting any claim or defense against Lender to the extent such claim or assertion is based upon facts, now known to the person(s) signing below on behalf of the City, which are contrary to those contained herein, if Lender has acted in reasonable reliance