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HomeMy WebLinkAboutC-5570(C) - West Coast Highway, 2547 - Assignment of Lease Agreement 2025 (Viking's Port Marina)ASSIGNMENT OF LEASE AGREEMENT This Assignment of Lease Agreement ("Assignment") is dated June 5, 2025 ("Assignment Date"), and is made between Viking's Port Marina, LLC, a California limited liability company ("Assignor"), and Viking's Port Landing, LLC, a California limited liability company ("Assignee"), with respect to the following facts: A. The City of Newport Beach ("Lessor"), as lessor, and Assignor, as lessee, are parties to that certain unrecorded Lease Agreement dated as of March 1, 2018 ("Lease"), a memorandum of which was recorded March 22, 2018, as Document No. 2018000102957 in the Official Records of Orange County, California, with respect to those certain leased premises more particularly described in the Lease. Capitalized terms used herein and not separately defined have the meanings ascribed to them in the Lease. B. Effective as of the Assignment Date, Assignee has acquired from Assignor the fee title interest in the Other Real Property along with other real property. C. Assignor desires to assign to Assignee, and Assignee desires to assume, all of Assignor's estate, right, title and interest in and to the Lease, on the terms and conditions set forth below. Effective as of the Assignment Date, Assignor hereby assigns, sells, transfers, sets over and delivers unto Assignee all of Assignor's estate, right, title and interest in and to the Lease and Assignee hereby accepts such assignment. Assignee hereby assumes the performance of all of the terms, covenants and conditions imposed upon Assignor as lessee under the Lease first accruing or arising on or after the Assignment Date. Assignor hereby covenants that Assignor will, at any time and from time to time upon written request therefor, execute and deliver to Assignee, Assignee's successors, nominees or assigns, such documents as Assignee or they may reasonably request in order to fully assign and transfer to and vest in Assignee or Assignee's successors, nominees and assigns the Lease. In the event of the bringing of any action or suit by a party hereto against another party hereunder by reason of any breach of any of the covenants, conditions, agreements or provisions on the part of the other party arising out of this Assignment, then in that event the prevailing party shall be entitled to have and recover of and from the other party all costs and expenses of the action or suit, including reasonable attorneys' fees. This Assignment may be executed in counterparts, each of which shall be deemed an original, but all of which, together, shall constitute one and the same instrument. This Assignment shall be binding upon and inure to the benefit of the successors, assignees, personal representatives, heirs and legatees of all the respective parties hereto. This Assignment shall be governed by, interpreted under, and construed and enforceable in accordance with, the laws of the State of California. [Signatures on the next page] IN WITNESS WHEREOF, Assignor and Assignee have executed and delivered this Assignment of lease Agreement as of the Assignment Date. "Assignor" Viking's Port Marina, LLC, a California limited liability company B. Victoria Lenich Managing Member "Assignee" Viking's Port Landing, LLC, a California limited lability company By: Victoria Lenich Managing Member By: Jason Lenich Managing Member ASSIGNOR AND ASSIGNEE SIGNATURES MUST BE NOTARIZED [Signatures continue on the next page] -2- IN WITNESS WHEREOF, Assignor and Assignee have executed and delivered this Assignment of Lease Agreement as of the Assignment Date. "Assignor" Viking's Port Marina, LLC, a California limited liability company in Victoria Lenich Managing Member "Assignee" Viking's Port Landing, LLC, a California limited liability company LM- _ Victoria Lenich Managing Member By. obi Lenich Managing Member ASSIGNOR AND ASSIGNEE SIGNATURES MUST BE NOTARIZED [Signatures continue on the next page] -2- By its signature below, Lessor hereby consents to the terms and conditions of this Assignment: ATTEST: y Date: l `' Molly Perry Interim City Clerk W 71 . 0 APPROVED AS TO FORM: 6�/z5 By A -ro i Aarod C. Harp s o1,yS City Attorney °`'' -AL "Lessor" CITY OF NEWPORT BEACH, a California municipal corporation Date: P61 ?,o ff 0��- ��� Gr c K. Leung C Manager -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 00-AM(aE --)SS. On Iyoi Z8 20 2S before me, JENt4t Feoz A►,)N VWj LdC y , Notary Public, personally appeared G ►2 K . Lev k V who proved to me on the basis of satisfactory evidence to be the person(s4 whose name(s) is/af--e subscribed to the within instrument and acknowledged to me that h.e/she/they executed the same in h-is/her/their authorized capacity(i-s), and that by his/her/their 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 oaraaraoh is true and correct. WITNESS my hand and official seal. Signatu JENNIFER ANN MULVEY ` Notary Public • California Orange County L c My Commission d 2375299 Comm. Expires Oct 12, 2025 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 (seal) County of } SS. On 20 before me, , Notary Public, personally appeared 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 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 hand and official seal. Signature (seal) -4- 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 Coun of �O1r���CP �� sss��� On L�.y 2r, -s , R8---before me, Notary Public, personally appeared , 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 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 hand and official seal. ,-,'\r CRYSTAL R, GUS!rAN COMM, #2447540 -�" Notary Public -California 1' County of Monterey 0- My Comm, Fxp. May 20, 2027 g ture (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 _ I ss. On , 20 before me, , Notary Public, personally appeared 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 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 hand and official seal. Signature (seal) -4- 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 (moo �-Vk e,<-,e—../ } ss. 6-fK-SSA, On 'Sy\ 1 S , 202 before me, � A to.Cl% Ce Notary Public, personally appeared 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 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 hand and official seal. Signature VANESSA PARADICE COMM. #2380685 s' NOTARY PUBLIC - CALIFORNIA rn MONTEREY COUNTY My Comm. Expires Oct. 28.2025 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. (seal) State of California County of } ss. On , 20 before me, , Notary Public, personally appeared , 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 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 hand and official seal. Signature (seal) 303 + 4 2 61 ® U qSearch Insured Name Vikings Port Marina LLC (FV00000343) Vikings Port Marina LLC (FV00000343) Active Records Only Advance Search Insured Tasks Admin Tools View s:a Insured Notes 1L) History �= Deficiencies Coverages Requirements Add Edit Help Video Tutorials .._.._.... _._.__..._..._.._._.. .._.._.._._.__.._._._.._.--- 7= Deficiencies Name: Account Number: Address: Status: Vikings Port Marina LLC n FV00000343 20117 Belma Court, Victoria (Vicki) Lenich, Salinas, CA, 93907 Compliant with Waived Deficiencies. The following deficiencies are according to last validation on :07/28/2025 Deficiencies Information Waiver Cre Date Policy Coverage Deficiency Waived Reason By Contractor Pollution Liability_ Contractor Missing Business 07/26/2024 Pollution Required Yes Set( Decision Liability Contractor Pollution Liability Coverage. Contractor Pollution Liability_ Contractor Missing Business 07/23/2025 Pollution Required Yes Set( Liability Contractor Decision Pollution Liability Coverage. I Workers Comp= Missing Workers Business _ 07/26/2024 Required Yes Comp Decision Workers Compensation Coverages. Major deficiencies are displayed in red. Minor deficiencies are displayed in black. Waived deficiencies are displayed in blue. Future waived deficiencies are displayed in orange.