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Home My WebLink AboutC-7436-10 - Beacon Bay, 40 - Termination of Leasehold 2024RECORDED AT THE REQUEST OF CHICAGO TITLE Recording Requested By and When Recorded Return To: City of Newport Beach 100 Civic Center Drive Newport Beach, California 92660 Attn: City Clerk Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder II II 1[� 1111 [11111 [� 111 [� II II NO FEE *$ R 0 0 1 5 1 9 9 0 9 0 $ * 2024000266828 8:00 am 10/15/24 9 NC-5 T01 5 0.00 0.00 0.00 0.00 12.00 0.00 0.000.000.00 0.00 (Exempt From Recording Fees Pursuant to Government Code § 27383) (SPACE ABOVE THIS LINE FOR RECORDER'S USE) TERMINATION OF LEASEHOLD This Termination of Leasehold is made this 15 day of October, 2024, by and between the CITY OF NEWPORT BEACH, a California municipal corporation, Tidelands trustee, and charter city hereinafter called "Lessor", and Hollis J. Price, Trustee of The Mary Ann Price -Bower 1991 Revocable Trust ("Lessee"). RECITALS A. Lessor and Mary Ann Price -Bower ("Original Lessee") executed a lease on June 20, 1994, for which a Memorandum of Lease was recorded December 7, 1994, by the County Recorder of Orange County, California as Instrument No. 94-0701501. By the terms of the Lease, the following described property was leased to Lessee until July 1, 2044. Lot 40 as shown on the map filed in Book 9, Page 42 and 43 of Record of Surveys, in the Office of the County Recorder, County of Orange, State of California. B. Original Lessee transferred and assigned all rights, interests, and obligations under the Lease to The Mary Ann Price -Bower 1991 Revocable Trust dated May 23, 1991, with Mary Ann Price -Bower serving as the trustee of said trust, without notice to the City. C. On October 14, 2021, without notice to the City, The Mary Ann Price - Bower 1991 Revocable Trust dated May 23, 1991, was amended to reflect the addition of Hollis J. Price as a co -trustee, with all rights, interests, and obligations of the Lease jointly held by both trustees. D. On December 5, 2023, Original Lessee passed away as evidenced by that Affidavit — Death of Trustee, recorded on j0 h zy, as Instrument No. -4 in the Official Records of Ventura County. Upon the death of Original Lessee, without notice to the City, the leasehold transferred to Lessee as the sole surviving trustee of The Mary Ann Price -Bower 1991 Revocable Trust dated May 23, 1991. E. Lessee desires to terminate said Lease and all rights to the possession of the Lease premises and to release Lessor from its obligations under the Lease, and Lessor desires to accept said termination and to release Lessee from his obligations under the Lease. AGREEMENT Lessee agrees to terminate the Lease as described herein above as of October /5 , 2024, and Lessor agrees to accept such termination, and Lessor and Lessee agree to discharge and release each other from all obligations under the Lease as of said date. [SIGNATURES ON NEXT PAGE] 2 IN WITNESS WHEREOF, the Parties have caused this Termination of Leasehold to be executed on the dates written below. APPROVED AS TO FORM: OFFICE OF THE CITY ATTORNEY Date: 1 O l C,-7i By: Aaron arp 'b City Attorney 6 y,Ic ATTEST: Date: ttl • p, By: a" Leilani I. Brown City Clerk CITY OF NEWPORT BEACH, A California municipal corporation Date:_L � 7024 By: Grac eung City nager LESSEE: Hollis J. Price, Trustee of The Mary Ann Price -Bower 1991 Revocable Trust, dated May 23, 1991 Date: eL, ( !21 j24 By: Hollis J. Price Trustee 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 County of V E N7v e, A On $W M tO21 before me, JA Notary Public personally appeared NUe-c is T PR l cc - who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(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 hand and official seal. Signature A�"`�`� JOYCE A. MULLER Comm. # 2393138 Ig b NOTARY PUBLIC-CALIFORNIA V1 VENTURA COUNTY 100 Gum+' MY Comm. EXP. MAR. 6, 2020 (Seal) CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 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 O P-4k Q (_V E ) (UOTV-1 +2-4 On 10 • '-1- before me, C— N N a, (Fa NIV VV� V L_v C— Y Date Here Insert Name and Title of the Officer personally appeared GQ A (-t LE V Imo( u Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(q is/are subscribed to the within instrument and acknowledged to me that he/she/t" executed the same in hisfher/their authorized capacity(ies), and that by hWher/th& signature(*on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. JENNIFER ANN MULVEY Notary Public - California Orange County Commission # 2375299 My Comm. Expires Oct 12, 2025, __ — — — t certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature Public Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: Number of Pages: Signer's Name: ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: