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NDC SKYLINE ASSOCIATES, LLC AND INTEGRAL COMMUNITIES I, INC.
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NDC SKYLINE ASSOCIATES, LLC AND INTEGRAL COMMUNITIES I, INC.
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Last modified
1/3/2012 2:40:42 PM
Creation date
8/20/2009 4:56:03 PM
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Contracts
Company Name
NDC SKYLINE ASSOCIATES, LLC AND INTEGRAL COMMUNITIES I, INC.
Contract #
A-2009-128
Agency
Planning & Building
Council Approval Date
5/4/2009
Destruction Year
0
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CONSENT OF LENDER <br />IndyMac Bank, F.S.B. ("Original Beneficiary") is the original holder of the <br />beneficial interest in that certain Deed of Trust recorded in the Office of the County <br />Recorder of Orange on September 7, 2006 as Instrument No. 2006000598226 (as <br />amended or modified, the "IndyMac Deed of Trust"), which IndyMac Deed of Trust <br />encumbers a portion of the Property covered by the Development Agreement dated as of <br />August 5, 2005, entered into by and among The City of Santa Ana, The Grand Plan 2, <br />LLC, NDC Skyline Associates, LLC and Integral Communities I, Inc. <br />The Development Agreement referred to in the preceding paragraph was amended <br />pursuant to the terms of that certain First Amendment to Development Agreement dated <br />as of July 7, 2008. <br />The Development Agreement referred to above is being further amended pursuant <br />to the terms of the Second Amendment to Development Agreement to which this consent <br />is attached. As amended by the First Amendment to Development Agreement and the <br />Second Amendment to Development Agreement, the Development Agreement referred to <br />above shall be hereinafter referred to as the "Development Agreement." <br />On July 11, 2008, Original Beneficiary and the FDIC, as conservator for Indymac <br />Federal Bank, FSB ("Indymac Federal") entered into that certain Amended and Restated <br />Insured Deposit and Assumption Agreement pursuant to which, among other things, <br />Original Beneficiary transferred to Indymac Federal, all of Original Beneficiary's right, <br />title and interest in and to, among other assets, the IndyMac Deed of Trust <br />On March 19, 2009, Indymac Federal and Indymac Venture, LLC <br />("Beneficiary") entered into that certain Asset Contribution and Assignment Agreement <br />whereby, among other things, Indymac Federal assigned to Beneficiary all of its right, <br />title and interest in and to the IndyMac Deed of Trust. <br />The undersigned Beneficiary hereby consents to the foregoing Second <br />Amendment to Development Agreement and agrees that the Development Agreement, <br />including but not limited to the provisions of Section 8 of the original Development <br />Agreement, shall continue in full force and effect, even in the event of foreclosure or <br />trustee's sale pursuant to such IndyMac Deed of Trust, or any other acquisition of title by <br />the undersigned, its successors or assigns, of all or any portion of the real property <br />covered by such Ind Mac Deed of Trust. <br />Dated: 7 ~7 ~~ INDYMAC VENTURE, LLC, <br />a Delaware limited liability company <br />By: <br />Name: .~~.~",. _... <br />Title: S/~ <br />
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