The URL can be used to link to this page

Home My WebLink AboutCALIFORNIA STATE OF - 2008 ~~ ~~~' ~. DISTRICT COUNTY ROUTE LOCATION NUMBER l2 ORA 5 32.9 DT)-()G93{l6-OI-A1 DD-073912-01-(11 NOTE AND AGREEMENT SECURED HX A DEED OF TRUST THIS NOTE AND AG1tI~EMENT, dated February 20, 200], is rnadc by CYTy' Ot? SANTA ANA, a charter city and municipal corporation duty organised under the constitution and law of the State of California (BUYER) as evidence of a debt to the STATE OF CALIFORNIA acting by and through the DEPARTMENT OF TRANSPORTATION (SELLER), 3347 Michelson Drive, Suite CN3130, Irvine, California 92G I2-OGFr 1 1. For the sum of FOUR HUNDRED FORTY 1~IVE THOUSA,NA DOLLARS ($445,000.00) BUYER hereby agrees to purchuso and SELLER hcmb_y ag+eees to sell portions of real property commonly known as: Z 1.27 N..Main Street and 2060 N. Bush Strcc[, Santa Ana, Couniy of Orange, California and legally described on Dinxtor's Dads No. DA-Of,9306-0101 and DD-073912-01.01 (hereinafter referred to as the "property") 2. BUYER agrees [a pay anon-rcfandable amen payment 30% of the ptuchase price amounting to S133~00, A note i:n the amount of S 311,500 in favor. of the SELLER will be issued to BUYER. The principal and interest on this note will be at an annual rate of interest of 9.5°1°, for a. terim of four (4) Yea*is, Payahte fn siiteen (] 6) quittrterly a»stallmcnts of $23,629.09 and commencing on November 1, 2001. .All sales made suitject to the approval of the California Transportation Commission. In the mrcnt that the California Trarispottation Commission fails to approve this sale, all monies hcrctaforC paid by the buyer will be refunded without imcrest. 4. Ali installments arc to be paid in lawfit] money of the United States of America and shalt be delivered to: Dcpartfiettt of Transportation Acoonntitgg Services Center, Cashier PO Box 168019 Sacramento, California 9581 f,-8019 5. Each installment shall be credited first on interest then due and the remainder an principal ~ credited. 6. BUYER may make additional payments on the principal at arty time before final installment, and interest shall thereupon cease upon said principal so credited. 7. if BUYER should default in the payment of any monthly installment, or any part therevl; when due aS herein provided, and such default should continue for thirty (3U) days after notice thereof in writing to HUYBR the whole of said purchase price shall at. the option of the State become forthwith due and payable. 8. A late fee of 5'/° of rite monthly payment, will be charged if payment has not bast received within IO days of its due date. 9_ ,BUYER agrees to pay all taxes and assessmcstts which axe and which may be levied or assessed against said premises. 10_ BUYER shall protrtptly pay all inddxedness incurred by acts of the BUYER on the property on which ma_y boeorne a lien on said premises, 11. Should the BUYER, its successors or assigns, sell or otherwise transfer rate PROPERTY without the prior express written consent of the SELLER, at its sole election, may declare nil or arty portion of the principal aiod aecxued merest on thi€ NOTE AND AGREEMENT to be immediately due and payable and may prooecd at once without further notice to enforce this NOTE AND AGREEMENT according to law. 12. No delay or faihue of SELLER in the exercise of any right or remedy hereunder or under arty other aSrCCmcnt, which secures or i€ related hereto, shall affect any such right or remedy, and no single or partial exercise of any such right or remedy shall preclude any further exercise thereof., and no action ~alcen Or omitted by the SELLER shall be deemed a waiver of any such right of remedy_ . NpTE AND AGREEMENT SECURED BY A DEED OF TRUST ~g z or ~ (Cont. ) 13, The indebtedness evidenced by this NOTE AND AGREEMENT is secured bJ' a Decd of Trust dated Fcbrt><1ry 20, 2x)01 14, Should it become necessary to commence 1ega1 ptoeeeCiings to enforce any of nc~ provisions of this NOTE AND AGREEMENT, the parties agree that the prevailing party shall be entitled to alf legal costs incurred in connection therewith including a reasonable sum for attorney's fees. 15, if any provision or application of this NOTE AND AGREEMENT is held imraHd by a cottrt of laa~. such ittvalidity shall not affect other provisions or applications of tltis NOTE AND AGREEMENT which can be given effect without the invalid provision or application, and to this end tltc grovisians of this NOTE AND AGREEMENT arc severable. 1t~, In the event the PROPERTY is sold pursuant to a Power of Sale under a Deed of Trust encumbering the PROPERTY or under any other lien encumbering the PROP>RTY, this NOTE AND AGREEMENT shall terminate and become void. Arty paytttettts of surplus proceeds from such sale raxived by BUYER shall be paid by BUYER to the SELLER Dated: ~ ~t r .'~v o / APPROVED AS TO FORM Joseph W. Fletcher City Attorney By `" Bcnjantin Kaufman (/ Chief Assistant City Attorney STATE OF CALIFORNIA DEPT OF TRANSPORTATiQN SELLER By B A MORRISON Real Property SCrvices, Chief (Notary acknowledgments must be attached per Civil Code Section 1 !80 et seq.) r~' - -`~ Attest: Patricia E Hc;aly Clerk of2lte Caunc~ •~ - _~ CALIFOR~M~A ALL•PU~tPOSE ACKNOWLEDGIIUIENT State of California County of _ QA ~,NG ~ Ss' On o~^ a~ ~s'd~l/ ,before me, ~11~.~dF7%t 1v ~/yr~J ~q~~, Oete Name and TI . f Ortleer (e.p., "Jnnn nq, NotAry blic•}blic'} personally appeared IfIIG~~L„ ~} ~-°k L ~ po Name(s) d SlgngKs) ~ (cCJ personally known to me f~ proved to me on the basis of satisfac#ory evidence HJt11dETH /~ bANt` Conr~dprl ~ 1~~ OrQga Caunltr MrCami 6mir~sAu~6.~ WITNESS my hand and official seal. Rlece Nolnry SgAI AbOVe SN1netUra~~c 4pr~oNaL ._ Though fhs Infomfafiorr below Is nor required bylaw, !t may prove valuable fo parsCns relylrrg on the document and Could prevent fraudulent removal and raaflRChmenf of this form fa another documsnt. Description of Attached Document T(tle ar Type of Document: Document Date: Signer(s) Other Than Named Above; Capacity(ies) Claimed by Signer Signer's Name: _ Ll Ittdividual rl Corporate Officer -Title(s): n Partner - C-I Limited Cl General n Attorney in Fact CJ Trustee l' I Guardian or Conservator ^ Other; Signer Is Representing: to be the person(s') whose namefs'J islare subscribed to the within instrument and acknowledged to me that he/siael~4e~r executed the same in his/~feN4heir authorized capacity(ri~sj, and that by his/~+errfN~refr signaturel~j-on the instrument the person(s~, or the entity upon behalf of which the person(s~ acted, executed the instrument. Number of Pages: ~,~•-, Tnp of thumh nrrn ~^-,^---. - vwu vv aura wtm., r.u. nna 'J.902 • (:hal!wgrlh, CA Q1'f11.74P2 • www.nntlgWrwury.mp Prod Ne. 5l1y goortlar: Cnl~ TnM-F.ee I-B00-87fl.OR9~ . ~ } • REQUEST FOR ` COUNCIL ACTION CITY COUNCIL MEETING DATE: FEBRUARY 20, 2001 TITLE: ~~~ Eduntion 1St CLERK OF COUNCIL USE ONLY: APPROVED 8 2 ~ 2001 As Recommend~dE As Amended ^ Ordinance on 15` Reading ^ Ordinance on 2"d Reading ^ Implementing Resolution ^ Set Public Hearing For CONTINUED TO RECOMMENDED ACTION FILE NUMBER 1. Authorize the Mayor and the Clerk of the Council to execute an agreement with the State of California, Department of Transportation for the purchase of the property located at 2127 N. Main Street and 2060 N. Bush Street, also as described Director's Deed DD-069306-01-01, in the amount of $450,000. 2. Approve an appropriation adjustment transferring $108,000 from the Educational Revenue Augmentation Fund Relief Revenue account (account no. 11-01-5699-11) to the Capital Outlay Fund (account no. 51-271- 6611) for the purpose of purchasing the property. DISCUSSION In the late 1980's, the City established the Santa Ana Museum District, which is a triangular area bounded by the Santa Ana Freeway to the east, Broadway to the West, and Seventeenth Street to the south. The District plan called for mixed-use cultural and commercial development. This triangular 90-acre area contains the Bowers Museum, Kidseum and St. Joseph's Ballet, and is adjacent to Discovery Science Center. The property at 2127 N. Main Street and 2060 N. Bush Street is within the limits of the district (Exhibit 1). It is the excess portion of a group of parcels acquired by the State of California, Department of Transportation (Caltrans) for the recent I-5 Freeway widening. Public Works Agency staff has had discussions with Caltrans regarding the sale of the property. The area of the property totals 35,385 square feet. It is comprised of two parcels separated by an alley right of way (Exhibit 2) Caltrans has agreed to sell the property to the City for the appraised value of $450,000 plus $3,000 to cover escrow costs. The City will provide $135,000 down payment and finance $315,000 through Caltrans over a four-year period. Page 63 25. K. PURCHASE AGREEMENT WITH STATE DEPARTMENT OF TRANSPORTATION FOR 2127 N. MAIN STREET AND 2060 N. BUSH STREET Purchase Agreement for 2127 N. Main Street and { 2060 N. Bush Street February 20, 2001 Page 2 The acquisition of the property will benefit the City by providing control of the property for its long-term future use consistent with the goals of the Museum District. The property is situated at a key entry point to the City and the District. Prior to its ultimate development, the property may be landscaped and improved with an entry sign. At this time, however, no plans have been developed regarding the use of the property. Any future development of the property would be subject to CEQA Compliance. In 1993, with the adoption of the Budget Act, the State of California began requiring cities and redevelopment agencies to shift a portion of general fund property taxes and tax increment revenue respectively to the State for allocation to the Educational Revenue Augmentation Fund (ERAF). This ERAF fund was established by the State to help support its obligation to fund the facilities and operations of K-12 schools and community colleges. This re-direction of tax increment revenue from redevelopment agencies was discontinued after the 1994-95 fiscal year. However, the property tax shift from the City's general fund continues and constitutes a loss of approximately $5 million in current fiscal year. In order to offset the impact of this loss of traditional revenue and provide some budgetary relief to the cities, the State began providing a partial refund to ERAF monies in the 1999-00 fiscal year. This partial relief effort was also approved by the State for the current fiscal year and the proposed action will appropriate $108,000 of the approximately $1 million of these funds for this project. ENVIRONMENTAL IMPACT In accordance with Section 15004 (b) (2) (A) of the CEQA guidelines, the proposed request is not subject to CEQA review, based on the condition that any future use or activity on the property would be subject to CEQA compliance. FISCAL IMPACT With approval of the appropriation adjustment and the $30,000 currently funded in the CIP, a $135,000 down payment towards purchase of the property and $3,000 for escrow costs will be funded from the Capital Outlay Fund (account no. 51-271-6611). The remaining $315,000 will be financed through a loan from Caltrans over a four-year period. ~~ ~ :~ James G. Ross Executive Director Public Works Agency APPROVED AS TO FUNDS AND ACCOUNTS: od R. Coloma Executive Director Finance & Management Services 25. K. Page 64 ~ COPY REQUEST FOR APPROPRIATION ADJUSTMENT Appropriation Adjustment No: 01-129 Date: 02/09/01 Department: Public Works Agency TYPE OF ADJUSTMENT Transfer of Funds (No Council Action Required) ~x Transfer of Funds (Council Action Required) rron,: General Fund Fund -Activity -Account 11 - 01 - 5699 -11 51 - 01 - 5990 - 11 51 - 271 - 6631 Amount $ 108,000.00 108,000.00 30,000.00 138,000.00 a~ .;~.. Council Action FEB 2 0 2001 Approved: Yes ~ No Clerk of the Coun To: Capital Outlay Fund Fund -Activity -Account Amount 11 -013-6800-51 51-271-6611* New line item. JUSTIFICATION FOR REQUEST: $ 108,000.00 138,000.00 To recognize Edatcutionul Reve~lue Azrgntentation Ftuid (ERAF) relief revenue, and to transfer same to the Capital Ozrtlay Fzrnd. This will szrpplement $ 30, 000.00 in existing Capital Outlay funds and provide a dotivn payment oii property at 2127 N. Main and 2060 N. Bush Street. ~' ~1~~~.~~~~ D~nartmont I-lA~.~ DISTRICT COUNTY ROUTE LOCATION NUMBER 12 ORA 5 32.9 DD 069306-O1-Ol NOTE AND AGREEMENT SECURED BY A DEED OF TRUST ~"uo~flt~''", u ~•t ~ ~'„~A ?'~j~~° i A-2001-0 39 THIS NOTE AND AGREEMENT, dated Februan' 2.0, 2001, is made by CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the constitution and law of the State of California (BUYER) as e~zdence of a debt to the STATE OF CALIFORNIA acting by and through the DEPARTMENT OF TRANSPORTATION (SELLER). 3347 Michelson Drive, Suite CN380, Irvine. California 92612-0661 1. For the sum of FOUR HUNDRED FORTY FIVE THOUSAND DOLLARS (5445,000.00) BUYER hereby agrees to purchase and SELLER hereby agrees to sell portions of real property commonly known as: 2127 N. Main Street and 2060 N. Bush~Street, Santa Ana, County of Orange, California and legally described on Director's Deeds No. DD-069306-01-01 and DD-073912-01-01 (hereinafter referred to as the "propert}") 2. BUYER agrees to pay anon-refundable down payment 30% of the purchase price amounting to 5133,500. A note in the amount of 5 311„5(10 in favor of the SELLER will be issued to BUYER. The principal and interest on this note will be at an annual rate of interest of 9.5%, for a term of four (4) years, payable in sixteen (16) quarterly installments of 523,629.09 and commencing on June 1, 2001. 3. All sales made subject to the approval of the California Transportation Commission. In the event that the California Transportation Commission fails to approve this sale, all monies heretofore paid by the buyer will be refunded without interest. 4. All installments are to be paid in lawful money of the United States of America and shall be delivered to: Department of Transportation Accounting Services Center, Cashier PO Box 168019 Sacramento, California 95816-8019 5. Each installment shall be credited first on interest then due and the remainder on principal so credited. 6. BUYER may make additional payments on the principal at any time before final installment, and interest shall thereupon cease upon said principal so credited. 7. If BUYER should default in the payment of an}° monthly installment, or any part thereof, when due as herein provided, and such default should continue for thirty (30) days after notice thereof in writing to BUYER, the whole of said pwchase price shall at the option of the State become forthwith due and payable. 8. A late fee of 5% of the monthly payment, will be charged if pavment has not been received within 10 days of its due date. 9. BUYER agrees to pay all taxes and assessments which are and which may be levied or assessed against said premises. 10. BUYER shall promptly pay all indebtedness incurred by acts of the BUYER on the property on which may become a lien on said premises. 11. Should the BUYER, its successors or assigns, sell or otherwise transfer the PROPERTY without the prior express written consent of the SELLER, at its sole election, may declare all or any portion of the principal and accrued interest on this NOTE AND AGREEMENT to be immediately due and payable and may proceed at once without further notice to enforce this NOTE AND AGREEMENT according to law. 12. No delay or failure of SELLER in the exercise of any right or remedy hereunder or under any other agreement, which secures or is related hereto, shall affect any such right or remedy, and no single or partial exercise of any such right or remedy shall preclude any further exercise thereof, and no action taken or omitted by the SELLER shall be deemed a waiver of any such right of remedy. • • NOTE AND AGREEMENT SECURED BY A DEED OF TRUST Page 2 of 2 (.Cont.) 13. The indebtedness evidenced by this NOTE AND AGREEMENT is secured by a Deed of Trust dated February 20, 2001. 14. Should it become necessar}• to commence legal proceedings to enforce any of the pro~zsions of this NOTE AND AGREEMENT, the parties agree that the prevailing party shall be entitled to all legal costs incurred in connection therewith including a reasonable sum for attorne}''s fees. 15. if an}' provision or application of this NOTE AND AGREEMENT is held invalid by a court of law, such invalidity shall not affect other provisions or applications of this NOTE AND AGREEMENT which can be given effect without the invalid provision or application, and to this end the provisions of this NOTE AND AGREEMENT arc severable. 16. In the event the PROPERTY is sold pursuant to a Power of Sale under a Deed of Trust encumbering the PROPERTY or under any other lien encumbering the PROPERTY, tlus NOTE AND AGREEMENT shall terminate and become void. Am payments of surplus proceeds from such sale received by BiJYER shall be paid by BUYER to the SELLER. Dated: ~ - d ~ - a-OD/ City of Santa A GUEL A. PULIDO Mayor Attest: Patricia E lv Clerk of the Council APPROVED AS TO FORM Joseph W. Fletcher Gity Attorney By Benjamin Kaufman Chief Assistant City Attorney STATE OF CALIFORMA DEPT OF TRANSPORTATION SELLER By BRENDA MORR[SON Real Property Services, Chief (Notary acknowledgments must be attached per Civil Code Section 1180 et seq.) • CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California ss. County of O1~.d6 On ~~~a ~ aoOf ,before me, ~,Lly ~/~. b /Goi~~Qil PccdG! _ , Date Name and Title of Officer (e.g., "Jane Doe, Notary ublic'") personally appeared Gt? /G-U rL fI • ~ccL ! ~D , Name(s) of Signer(s) ~' personally known to me ^ proved to me on the basis of satisfactory evidence ~~~ n. t ,.:: .,-,,,r,:~ ~ EJ t<.gG 'h ,~. DAtiG z ':hY+••~'.+~C.~a;~. I'v.~sttYy f Lrn.l^ - ~QI~~G'r:fa °~ ~~,. Oronns Coun#y Niy Comm. 6c~ire3 P,ug 6, 2f:04 to be the person(-~} whose name(s) is/a~e- subscribed to the within instrument and acknowledged to me that he%sf3e~ey~executed the same in his/#s~~iei~- authorized capacity(ies); and that by his/fit signature( on the instrument the person{s3; or the entity upon behalf of which the person(~sj acted, executed the instrument. WITNESS my hand and official seal. Place Notary Seal Above _~~~ ~~~~ Signatu of Notary Pu Ic OPTIONAL Though the information below is not required bylaw, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: _ Capacity(ies) Claimed by Signer Signer's Name: ^ Individual ^ Corporate Officer -Title(s): ^ Partner - ^ Limited ^ General ^ Attorney in Fact ^ Trustee ^ Guardian or Conservator ^ Other: Signer Is Representing: Top of thumb here Number of Pages: ® 1999 National Notary Association • 9350 De Soto Ave., P.O. Box 2402 • Chatsworth, CA 91313-2402 • www.nationalnotary.org Prod. No. 5907 Reortler: Call Toll-Free 1-800-876-6827