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Home My WebLink AboutWISEPLACE (14)\ .,ommonwealth Land Title Company RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of Santa Ana 20 Civic Center Plaza M-26 Santa Ana, California 92702 Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder 1�lll�l111111Illll111lillllllll1111illlJill lJllIlllllIll NO FEE + S R 0 0 1 4 2 6 3 1 4 8 S+ 2023000065931 11:34 am 03/23/23 90 CRSC06 R09 T02 6 0.00 0.00 0.00 0.00 15.00 0.00 0.000.000.00 0.00 0Y/ I (o&0-�D To be recorded without fee. (Government (Space Above This Line For Recorder's INSURANCE NOfRft6W0 and 27383) Use Only) A - ZoZ3-o&-o3 Af N: 39g- 523 - O 4 WORK MAY PROCEED CLERK OF THI9f;kiQLAND TERMINATION OF AMENDED AGREEMENT BETWEEN i THE CITY OF SANTA ANA AND DEVELOPER FOR USE OF COMMUNITY (DATE: DEVELOPMENT BLOCK GRANT FUNDS FOR RENTAL HOUSING APR 18 2023 This RELEASE AND TERMINATION OF AMENDED AGREEMENT BETWEEN THE CITY OF SANTA ANA AND DEVELOPER FOR USE OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS FOR RENTAL HOUSING ("Release and Termination") is dated as of March 11; 2023 ("Effective Date"), by the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California, serving as the Successor Agency to the Community Redevelopment Agency of the City of Santa Ana, a public body, corporate and politic ("Successor Agency") for the benefit of WISEPlace, a California nonprofit public benefit corporation, formerly known as YWCA of South Orange County ("Developer"). RECITALS A. Developer is the fee owner of the Property located at 1411 North Broadway, Santa Ana, California ("Property"). The legal description of the Property is attached herewith as Exhibit A and incorporated herein by reference. B. Developer and Successor Agency executed that certain Agreement Between the City of Santa Ana and Developer for Use of Community Development Block Grant Funds For Rental Housing, which was dated September 25, 1996 and \ ommonwealth Land Title Company RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of Santa Ana 20 Civic Center Plaza M-26 Santa Ana, California 92702 (ov To be recorded without fee. (Government Code, §§ 6103 and 27383) APN 3q8-5z3-04 (Space Above This Line For Recorder's Use Only) RELEASE AND TERMINATION OF AMENDED AGREEMENT BETWEEN THE CITY OF SANTA ANA AND DEVELOPER FOR USE OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS FOR RENTAL HOUSING This RELEASE AND TERMINATION OF AMENDED AGREEMENT BETWEEN THE CITY OF SANTA ANA AND DEVELOPER FOR USE OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS FOR RENTAL HOUSING ("Release and Termination") is dated as of March 13; 2023 ("Effective Date"), by the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California, serving as the Successor Agency to the Community Redevelopment Agency of the City of Santa Ana, a public body, corporate and politic ("Successor Agency") for the benefit of WISEPlace, a California nonprofit public benefit corporation, formerly known as YWCA of South Orange County ("Developer"). RECITALS A. Developer is the fee owner of the Property located at 1411 North Broadway, Santa Ana, California ("Property"). The legal description of the Property is attached herewith as Exhibit A and incorporated herein by reference. B. Developer and Successor Agency executed that certain Agreement Between the City of Santa Ana and Developer for Use of Community Development Block Grant Funds For Rental Housing, which was dated September 25, 1996 and recorded against the Property on September 26, 1996, in the Official Records of the County of Orange, as Document No. 19960490978, as amended by that certain Amended Agreement Between the City of Santa Ana and Developer for Use of Community Development Block Grant Funds For Rental Housing, which was dated March 1, 2001, and recorded against the Property on May 21, 2001, in the Official Records of the County of Orange, as Document No. 20010326934 (together, as amended, the "Loan Agreement"). C. Pursuant to the Loan Agreement, the Successor Agency committed to provide a loan to Developer in the aggregate principal amount of $912,265 to assist with the predevelopment budget for an affordable housing project to be developed on the Property. D. Pursuant to the terms of an Amended Promissory Note Secured by Deed of Trust entered into in connection with the Loan Agreement (the "Note"), Developer promised to pay the Successor Agency the sum of $916,265, unless forgiven by the Successor Agency. E. The Loan was forgiven by the Successor Agency on January 31, 2023, as evidenced by a letter from the Loan servicer to Developer dated February 1, 2023. F. Accordingly, the Successor Agency and Developer now mutually desire to release and terminate the Loan Agreement and Note. RELEASE AND TERMINATION NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein and made a part hereof, and the covenants and promises hereinafter contained, and other good and valuable consideration, the receipt and sufficiency of which is acknowledged by the Successor Agency and the Developer, the Parties hereto agree as follows: The Loan Agreement and the Note are hereby terminated and released. 2. Notwithstanding the foregoing, nothing herein is intended to or does release or terminate any covenants, conditions, or restrictions contained in any other instrument recorded against the Property, all of which shall survive the recordation of this Release and Termination. 3. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original. This Agreement may be validly executed and delivered by , facsimile, electronic mail and/or portable document format (collectively, "Electronic Copy"). Any signer who executes this document and transmits this document by Electronic Copy intends that the Electronic Copy of their signature is to be deemed an original signature for all purposes. Any such Electronic Copy printout and any complete photocopy of such Electronic Copy printout is deemed to be an original counterpart of this document. 4. This Release and Termination shall be governed by, and construed and enforced in accordance with, the laws of the State of California. [SIGNATURE PAGES FOLLOW] IN WITNESS WHEREOF, the Parties hereto have duly executed this Release and Termination as of the date set forth herein. SUCCESSOR AGENCY: 1 Clerk of the Council Dated: 3 tS a APPROVED AS TO FORM: SONIA R. CARVV�ALHO, City Attorney By: .�[{ Matthew Cody Special Counsel to the City Dated: 3 to 23 If I RECOMMENDED FOR APPROVAL: ,fGarcia Executive Director Community Development Agency CITY OF0. eA ANA a Kristine Ridge City Manager Dated: ACKNOWLEDGMENT 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 Orange ) On March 15, 2023 before me, Claudia M. Fernandez -Shaw, Notary Public (insert name and title of the officer) personally appeared who proved to me on the basis of satisfactory evidence to be the person ) whose name )A� subscribed to the within instrument and acknowledged -to me that y executed the same in Heir authorized capacity(iesrand that by signature(s)-on the instrument the persor""r the entity upon behalf of which the persons}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. �. CUUDIA M. FE0.NANDQ�SHAW my hand and official seal. NUDIAM. FE NANDEZ.SK Ora Cmnty y Comm.itsionExpires s Ja 8597 /J " `My om. Expires !an 25, 2026 1 EXHIBIT A LEGAL DESCRIPTION All that certain real property situated in the County of Orange, State of California, described as follows: PARCELI The east 130.00 feet of that portion of the land allotted to Jacob Ross, as described in the Final Decree of Partition of the Rancho Santiago De Santa Ana, which was entered September 12, 1868 in Book "B", Page 410 of Judgments of the District Court of the 17th Judicial District in and for Los Angeles County, California, described as follows: Beginning at a point 1028.50 feet south of the northeast corner of section 12, township 5 south, range 10 west, San Bernardino Meridian; thence west 319.70 feet to a portion the centerline of Sycamore Street, as described in that certain Final Judgment, Superior Court Case No. 23280, a certified copy of which was recorded January 8, 1929 in Book 227, Page 401 of Official Records of Orange County, California, said point being the true point of beginning; -thence west 310.37 feet to the southwest corner of the land described in a deed to T. J. Mullinix recorded October 29, 1897 in Book 33, Page 197 of deeds of said Orange County; thence north 77 feet 1 inch; thence east 310.37 feet to said centerline; thence south 77 feet 1 inch to the true point of beginning. . PARCEL 2: The west half of that portion of the land allotted to Jacob Ross, as described in the Final Decree of Partition of the Rancho Santiago De Santa Ana, which was entered September 12, 1868 in Book "B", Page 410 of Judgment of the District Court of the 17th Judicial District in and for Los Angeles County, Califomia,'described as follows: Beginning at a point 1028.50 feet south of the northeast corner of section 12, township 5 south; • •.range 10 west, San Bernardino Meridian; thence west 630.00 feet, thence south 75.00 feet; thence east 630.00 feet; thence north 75.00 feet to -the point of beginning. The east line of. said west half being the centerline of Sycamore Street, as described in that certain Final Judgment, Superior Court Case No. 23280, a certified copy of which was recorded January 8, 1929 in Book 227, Page 401 of Official Records of Orange County, California.