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Home My WebLink AboutC-7254-18 - Beacon Bay, 13 - Consent to Assignment of Leasehold Interest 20244/30/24, 3:22 PM Batch 17363602 Confirmation RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Newport Beach City Clerk's Office 100 Civic Center Drive Newport Beach, CA 92660 APN: 050-222-11 Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder II 11�1 II III 1IIII1III II1 II II 10 FEE *$ R 0 0 1 4 9 2 0 7 0 0$ 2024000107799 3:17 pm 04/30/24 227 403A C34 5 0.00 0.00 0.00 0.00 12.00 0.00 0.000.000.00 0.00 SPACE ABOVE THIS LINE FOR RECORDER'S USE EXEMPT FROM RECORDING FEES PER CAL. GOV. CODE §§ I 27363 CONSENT TO ASSIGNMENT OF LEASEHOLDINTEREST THIS CONSENT TO ASSIGNMENT OF LEASEHOLD INTEREST ("Consent to Assignment") is made and entered into this 75 day of PP¢eL- 2024 by and between the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City" or "Lessor"), C&C RE Portfolio LLC, a Delaware limited liability company ("First Assignor'), Chad Christopher Peets, an individual ("Second Assignor"), and Can Olson Peets, in her individual capacity ("Assignee" or "Lessee"), on the following terms and conditions: RECITALS A. On August 10, 2022, the City entered into a Lease with C&C RE Portfolio LLC, a Delaware limited liability company, concerning certain real property described as: Lot 13 as shown on the map filed in Book 9, Pages 42 and 43 of Record of Surveys, in the Office of the County Recorder, County of Orange, State of California, sometimes referred to as Beacon Bay Lot 13 ("Property"), as evidenced by a Memorandum of Lease recorded on August 10, 2022, as Instrument No. 2022000274588 in the Official Records of Orange County ("Lease"). B. On January 11, 2024, the interests in the Lease and the improvements on the Property were distributed and transferred from First Assignor to its sole two members, Chad Christopher Peets and Cari Olson Peets, each as individuals, as evidenced by an Agreement to Distribute Beacon Bay Lot 13, dated January 11, 2024. C. Concurrently on January 11, 2024, Second Assignor transferred his interests in the Lease and the improvements on the Property to Assignee, a married woman as her sole and separate property, as evidenced by an Agreement to Transfer Full and Complete Ownership of Any and All Improvements on Beacon Bay Lot 13, dated January 11, 2024. https://gs.secure-erds.com/Batch/Confirmation/17363602 4/15 RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: City of Newport Beach City Clerk's Office 100 Civic Center Drive Newport Beach, CA 92660 SPACE ABOVE THIS LINE FOR RECORDER'S USE EXEMPT FROM RECORDING FEES PER CAL. GOV. CODE §§ 27383 APN: 050-222-11 CONSENT TO ASSIGNMENT OF LEASEHOLD INTEREST THIS CONSENT TO ASSIGNMENT OF LEASEHOLD INTEREST ("Consent to Assignment") is made and entered into this 2; day of PIPReL- 2024 by and between the CITY OF NEWPORT BEACH, a California municipal corporation and charter city ("City" or "Lessor"), C&C RE Portfolio LLC, a Delaware limited liability company ("First Assignor"), Chad Christopher Peets, an individual ("Second Assignor"), and Cari Olson Peets, in her individual capacity ("Assignee" or "Lessee"), on the following terms and conditions: RECITALS A. On August 10, 2022, the City entered into a Lease with C&C RE Portfolio LLC, a Delaware limited liability company, concerning certain real property described as: Lot 13 as shown on the map filed in Book 9, Pages 42 and 43 of Record of Surveys, in the Office of the County Recorder, County of Orange, State of California, sometimes referred to as Beacon Bay Lot 13 ("Property"), as evidenced by a Memorandum of Lease recorded on August 10, 2022, as Instrument No. 2022000274588 in the Official Records of Orange County ("Lease"). B. On January 11, 2024, the interests in the Lease and the improvements on the Property were distributed and transferred from First Assignor to its sole two members, Chad Christopher Peets and Cari Olson Peets, each as individuals, as evidenced by an Agreement to Distribute Beacon Bay Lot 13, dated January 11, 2024. C. Concurrently on January 11, 2024, Second Assignor transferred his interests in the Lease and the improvements on the Property to Assignee, a married woman as her sole and separate property, as evidenced by an Agreement to Transfer Full and Complete Ownership of Any and All Improvements on Beacon Bay Lot 13, dated January 11, 2024. CONSENT NOW, THEREFORE, the parties hereby agree as follows: 1. The City does hereby consent to the assignment of the interest in and to the Lease from First Assignor, as a Delaware limited liability company, ultimately to Assignee, a married woman as her sole and separate property (collectively "Lease Assignment"). 2. Said Lease Assignment shall be subject to each and all of the covenants, conditions and restrictions set forth in the Lease and shall be subject to all rights and interest of the City thereunder, except as herein otherwise provided. 3. Upon the death of the Assignee, all successors shall comply with all provisions of the Lease, including those conditions precedent and rent requirements of Section 4 of said Lease. 4. Should Assignee transfer her interest to a trust, trustors agree to provide a copy of the complete trust containing these provisions to the City to ensure that any transfer of the leasehold will not circumvent that provision of the Lease calling for increased rent upon transfer. 5. All notices and other communications required or permitted under the Lease shall be in writing, served personally on, or mailed by certified or registered United States mail to the party to be charged with receipt thereof. Notices and other communications served by mail shall be deposited in a United States post office, as certified or registered mail with postage prepaid and duly addressed to the party to whom such notice or communication is to be given as follows: Notice to Lessee: Cari Olson Peets 13 Beacon Bay Newport Beach, CA 92660 Notice to City: Attention: Real Property Administrator City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 Any such party may change said party's notices address by giving to the party intended to be bound thereby, in the manner provided herein, written notice of such change. 6. This Consent to Assignment shall become effective upon recording. [SIGNATURES ON FOLLOWING PAGE] Consent to Assignment Page 2 EXECUTED on the dates indicated below, at Newport Beach, Orange County, California. APPROVED AS TO FORM: CITY ATTORNEY'S OFFICE Date:61"3 �` C. p �s ttor7ey ATTEST: Date: � O- Leilani I. Brown City Clerk �jqt-1FoVi CITY OF NEWPORT BEACH, a California municipal corporation Date: / Z ZvL� n , Grace K. Leu City Manager FIRST ASSIGNOR: C&C RE Portfolio LLC, a Delaware limited liability company Date: Signed in CounterpaFt Chad Christopher Peets Manager SECOND ASSIGNOR: Chad Christopher Peets, an individual Date: Signed in Counterpart Chad Christopher Peets ASSIGNEE/LESSEE: CARI OLSON PEETS, a married woman as her sole and separate property Cari Olson Peets Consent to Assignment Page 3 EXECUTED on the dates indicated below, at Newport Beach, Orange County, California. APPROVED AS TO FORM: CITY OF NEWPORT BEACH, CITY ATTORNEY'S OFFICE a California municipal corporation Date: 3 �' Date: ~f Signed In oun erp: �p 3 s Grace K. Leung City ttor ey,-_ ��z/zY City Manager ATTEST: FIRST ASSIGNOR: C&C RE Portfolio LLC, a elaw re limited liability company Date: ptepart Date: Leilani I. Brown XAA_ City Clerk Chad Christopher Peets Manager SECOND ASSIGNOR: Chad Christop 'er Pee , an individual Date: 94? LAB &o c Chad Christopher Peets ASSIGNEE/LESSEE: CART OLSON PEETS, a married woman as her sole and sepa ate pr perty II II -Date: / son Peets Consent to Assignment Page 3 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 r County of �x1 ? ss. ; -) d Barbara Augustus elvey On o 7 before JJa�e, , Notary Public, personally appeared G S 2 /'ee, who proved to me on the basis of satisfactory aqqence to be the personW-who a na are subscribed to the within instrument and, ack wledged to me that hehe/they executed the same in i her/their authorized capacity(i�- and that y hi her/their signature*) on the instrument the person(s), or e 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. WITNESS my hand a d official aI. v , _ry BARBARAAUGUSTUS MCKELVEY �. W = s Notary Public • California Orange County z ` Commission M 2477406 _��"''.µy Comm, Expires Jan 21, 2028 Si na re (seal) 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 d/tv } ss. �1 Barbara Augustus McKelvey Notary Public, On '/ 20 ,,Z P6�; fore me, , personally appeared SD - &2S proved to me on the basis of satisfactory evidence to be the person(6Twhose name - are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his er heir authorized capacity0es), and that by histOltheir signatures(-s) on the instrument the person(-s), or the entity upon behalf of which the person(s-) 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. =.? WITNESS my cial I. /� BARBARAAUGUSfUSMCKELVEY SI nat re (seal) Notary Public California g - Orange County Commission # 2477406 My Comm. Explres Jan 21, 2028