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HomeMy WebLinkAboutM2009-0015Oct 02 02 10:27a BeIlPort Group SEP -26-2002 THU 08.:39..AM CA LANDS COMM STATE OF CALIFORNIA CALIFORNIA STATE LANDS COMMISSION 1 OD tiowe AVenUe, Suite I 00 -South Sacramento, CA 96825-e202 Mr. Sean M. Walsh BellPort Group 301 Shipyard Way Newport Beach, CA 92663 949-723-7782 p.2 FAX NO. 916 1324 P. 02 GRAY DAVIS, PAUL [). THAYER, gx&cutive officer (916) s74 -l000 FAX (916) 574-1810 Callforn,ft R@18y Se_lre pfam TDD phorls isoo-735-2922 fmm Voice Phono 1-800-735-2929 Contact Phone. (946) 574�0234 Contact FAX, (916)574-1324 September 23, 2002 File Ref: SD 2002-09-12.1 RE: Dredging Project at the Balboa Marina, 201 E. Coast Highway, Newport Beach Dear Mr. Walsh: This is in response to your recent request for a determination by the state Lands commission (CSLC) whether it asserts a sovereign title interest in the property that your project will occupy and whether it asserts that the project will intrude into an area that is subject to the public easement in navigable waters. The facts pertaining to your proposed project, as we understand them, are these', You propose to dredge approximately 8000 cubic yards at the Balboa Marina, vAth disposal of dredged material to be at United States Army Corps of Engineers site LA -3. The proposed dredging project will be located within Rancho San Joaquin, landward of the adjudicated mean high tide line along the shore of Newport Bay as set - Irvine CowanY- Superior Court Case Number 20436. forth in orange County v. ThL ly asserts no claim that the project intrudes onto Accordingly, the CSLC present sovereign lands or that it would lie in an area that is subject to the public easement in navigable waters. This conclusion is without prejudice to any future assertion of state ownership or public rights, should circumstances change, or should additional information come to our attention. if you have any questions, please contact Jennifer Lucchesi at (916) 574-0234� 0 Lynch Chief, Land Management Division cc: Kavi Schwing, CCG Oct 02 02 10:27a BellPort Group 949-1723-7782 P.1 0 affinow, left AL., 1:$ 0 R T E L L ry Bayside Marina Bayshore Marina Balboa Marina - Villa Cove Marina FAX TO: Karl Schwing FROM: Sean M. Walsh CO: CCC PAGES: 2 (including cover sheet) FAX: 562-590-5OB4 DATE: October2,2002 RE: Permit Applications for Balboa Marina cc: Tony Melum, Harbor Resources, City of Newport Beach Hi Karl: Thank you for your return call this morning. As we discussed, this has been a long process and we're all very happy to be on the home stretch. Attached is the letter from Robert Lynch at State Lands Commission, which along with the missing application that was sent by Tony Melum, should be the last piece. We want to thank you again for working with us on this project. Regards, A PrlvacyDisclalmen, 777e Information contained In this facsimile message maybe confidential, proprietary andlor legallyptivIleged information Intended only for the It,,& of the Individual or entity named above. If the reader of this message is not the intended reciotent, you are hareby notified' that any copying, olissemination or d1stributlon of confldentlal, proprietary or privileged information is strictly prohibited if you have received this communication In error please notIfy the sender by telephone Immediately, and we will arrange for the return of thIs facsinvle Thank you CALI FORNIA PDCREATION COMPANY 1137 Bayside Drive, Newport Beach, CA 92625-1706 949-721-0111 - fax: 949-721-0118 - www.greatslips.com April 5, 2010 Mr. Chris Miller, Manager Harbor Resources Division City of Newport Beach 829 Harbor Island Drive Newport Beach, CA 92660 S ',X 1. biccl- Baiboa Nlaiina Dock & Dine Boat Slip Signage Dear Mr. Miller: We have completed the sign program update discussed at our January 28, 2010 meeting with you and Assistant City Attorney Leonie Mulvihill. The purpose of the signage is to better assist the boating public to find and gain access to our dock & dine boat slips at the marina. You previously commented that while the dock & dine slips are marked, a boater entering the marina for the first time might have difficulty locating them and additional signage would help alleviate this problem. hi reviewing the signage issues, we reconsidered the location of the dock & dine slips. As a result, we have located these slips directly below the bulkhead at 3 Thirty 3 restaurant and closer to the up -ramp landside gate access adjacent to the Sol restaurant (see attached slip location graphic). Regarding the additional dock & dine signage, please see attached sign detail graphics. As you will note, we have added two new pier cap signs #3.6 and # 3.8 that will be visible to boaters on the main channel when entering the marina. We have also added three directional signs on dock gangways # 3.3, # 3.5, and # 3.7 to assist way -finding back to the dock & dine slips from the landsid e gate. Each dock and dine slip will be labeled "DOCK & DINE" on their whaler as before. The landside gate is a one-way gate so that a boater may gain access to the landside, but would need a key to regain access to the docks. In my correspondence to you dated February 1, 2010, 1 explained the steps that we have taken to insure that members of the boating public can gain access over our docks to the landside commercial uses at Balboa Marina. In particular I noted our offer of a magnetic key card that boaters can obtain by coining to our office and signing up. The key card allows anyone having the device to return to the docks through our security gate at any time they wish. In addition, we have a security guard present on Friday and Saturday nights from 5:30 p.m. to 11:30 p.m. and on Sunday nights from 4:00 p.m. until 10:00 p.m. The guard's responsibility is to open the gate for those boaters who arrive at the marina without a key card and need to return to BAYSHORE BAYSIDE VILLA COVE BALBOA BAIRISLAND AIARTNA MARINTA MARINA AIAMNA MARINA Mr. Chris Miller April 5, 2010 Page 2 their dingy. We provide this service based on our observation of when the majority of visiting boaters arrive and access the landside com mercial uses, primarily the restaurants adjacent to the marina. A third step that we have taken to ensure access is to provide both the Sol and 3 Thirty 3 restaurants with several key cards so that their staff can assist any boater gain access back to the docks when the guard is not present. The dock & dine slips were added to the marina design to implement t -he approval in concept recommended by the Harbor Commission at their February 14, 2007 meeting. However, you - explained, at our January 28, 2010 meeting, and more recently, that the Harbor Commissioners want unrestricted public access over our docks at the marina. We do not believe that is consistent with the City's approval in concept and the action of the California Coastal Commission. We providetthe followin' chronology of the Coastal Develo ment Permit, apprril.-,al process fror your 9 p consideration. Mitigated Negative Declaration A Mitigated Negative Declaration (N4ND) was prepared for the reconstruction of Balboa Marina, which included replacement of an existing 132 slip dock with a 102 slip dock which was compliant with updated ADA and Department of Boating and Waterways standards. The marina was described as a private use. City of N=ort Beach Harbor Commission At its February 14, 2007 meeting, the Harbor Resources Department recommended that an Approval In Concept be granted for the reconstruction of Balboa Marina as outlined in the MND. Commissioner Collins requested that the project follow the Harbor Element of the General Plan and add public dinghy docks. A motion was made to accept the MND and issue an Approval In Concept with the added requirement that a dinghy dock and access to the commercial areas from the water be included in the project. As stated in the minutes for the February 14, 2007 action: "Commissioner Corrough made the motion to accept the Mitigated Negative Declaration (MND) prepared for the Balboa Marina reconstruction project and issue and Approval in Concept (AIC) for the marina and find that the proiect is consistent with the City offNewport, Beach, existing and proposed dock construction standards. The motion was not seconded and died. Commissioner Lawrenz made the same motion, but added that the concept include a dinghy dock and access to the commercial areas from the water. The motion was seconded and carried with all ayes." California Coastal Commission Approval On May 7, 2008, the California Coastal Commission granted Coastal Development Permit 5-07- 241, for a 105 slip layout (that included four "valet/temporary slips") subject to standard and special conditions. The staff report for the project noted in the project description that: "The existing facility is privately owned/operated and accessible to slip lessees and not open for general public use." The report also states � "Public access to the bay is available from Coast Mr. Chris Miller April 5, 2010 Page 3 Highway. In addition, vertical access to- the bay is available on the bridge leading to Linda Isle immediately east of the project site. Public access to the waterfront is available and the proposed project would not impede such access. However, the subject site is a private marina facility which leases boat slips to its members." The City of Newport Beach Approval In Concept that was attached as an exhibit to the Coastal Commission staff report was augmented to show the four "valet/temporary dock" spaces as required by the Harbor Commission in its February 14, 2007 recommendation for approval in concept. We have followed the specific direction of the Harbor Commission for the approval in concept to add dinghy slips to the marina. With our efforts to improve signage and ensure dock & dine access through offering key cards to the public, a guard for peak use and providing key cards to the restaurants, we believe that access will be even easier. Further, I hope that the questions you and the City Attorney's office raised at our meeting are addressed with this update on how our operational plan provides enhanced way -finding to our dock & dine dingy tie-ups at Balboa Marina. Please do not hesitate to contact me directly at (949) 721 -0111 if you have any comments or questions. Sincerely, eenrall'Manager California Recreation Company Attachments: Slip Location Graphic Dock & Dine Directional Sign Graphics cc: VMs. Leonie Mulvihill 4 Mr. Dan Miller E 0 mw z I -Z CD tn 0 z z -2 o a o o �2 R 0 '. -= V) g (D z LIJ m o CD LLJ Z LU w 5 3: u 0 Z .2 t 0 6i z g 0 0 o IV'30VNE)lSdIIS-VN18VV4VOElIV9 /SDM(3 NO /3NIG CINV)100(1 OMEOD /VNINVV4 VOGIVO ISVN&M /:)Ii /Mid N N /x/ tn 0 z z -2 o a o o �2 R 0 '. -= V) g (D z LIJ m o CD LLJ Z LU w 5 3: u 0 Z .2 t 0 6i z g 0 0 o IV'30VNE)lSdIIS-VN18VV4VOElIV9 /SDM(3 NO /3NIG CINV)100(1 OMEOD /VNINVV4 VOGIVO ISVN&M /:)Ii /Mid 0) E mw.2 u LLI E ca z LU -C z LLJ z,- lw Ln t: LU E� w C', 5z! z op 5 us z Z 9 2 ED zw -C 2i < 2 H Ed H CD FEW] 2 -T" i� M Cl z IV*39VNE)ISdI-lS-VNINVV4VOaIV9 /SOMG >10 /3NIG GNV)IDOCI 02000 IVNINVV4 V081VS /SVNIUVV4 /Oli /Mid u z 0 mg:� z 0 u U.1 z 5; Z LU 76 I , u P 0 c) I o u < 0 0 0. lu LZ 6 z 5; uj w E 7R co —o (D moo I I- ;lt u LU z Ln LU 5 'z LU 0 CL F - p ZL 0 z C, Lnu IV*39VN9ISdIIS-VNINVV4VOGIV9 /SOMG NO/3NICI GNV)I:)OCI OLZOOONNINW4 V0131VO /SVNIHVV4 /Dli/Micl LU m z ,<L 2 0 u ui z Z UJ 5 u I�i z 0 d- -P PIIAI < Ll u LU co O'L�: INS E o 'El Q- S (D 1 s > wz @@@(9) T- �-- -T 2 z z C) uj ull L61 C) 7 L -N L ui Lri -j LU z CZD .6 T .8/LZ- u z 0 LU :t 0 z LU CL LU a- 10 - z 0 z z o 0 1 1 �2 z u g z LLI M :6 U0 0 .0 0 � 0 0 1 1 z 0 0 LU 0 > Z LLJ n oi .21 < u 0 0 Z o o 7s g -2 o I 11 z 0 lV'39VNE)lSdllS-VNlNVV4VO9-lVS /SDMCI)IO /3NIG (INV NDOG OLZOEOD /VNINVV4 VOSIV9 /SVNINVV4 /011 /Mid c 0 E o c6 u cD 0 �e 0 IV'30VNE)ISdllS VNI8VV4VO9IVG /S9M(I NO /3NIG GNV LU z C) Cd U 0 t: LLJ z z S Ln kA 0 Z Lu m 0 02 0 z C<L 0 V —0 LU Z > L- C:, t.T z w Lu =j 0 > u u LU ca 0 0 w Im Z —j —2 t .7 > :2 6i z LD > F- 0 /SVNIUVV4 /:)Il /Mid PO U 11Q\1Ll F0 Vpk, 71 - - April 13, 2010 Row dej Mr. Greg Sinks, General Manager California Recreation Company 1137 Bayside Drive Newport Beach, California 92625-1706 RE: Public Access at Balboa Marina Dear Mr. Sinks: CITY MANAGER'S OFFICE Harbor Resources Division This letter is in response to your correspondence dated February 1, 2010 and April 5, 2010 regarding California Recreation Company's ("Cal Rec") efforts to provide public access at the Balboa Marina. As you know, the City of Newport Beach Harbor Commission's ("Commission") recommendation to approve the Balboa Marina on February 14, 2007 included a requirement that Cal Rec provide public dinghy docks and public access. The City appreciates Cal Rec's initial efforts to satisfy the Commission's public access requirement, which includes: 1 . Allowing the public to visit your offsite office ahead of time, and apply for a magnetic key to use the Balboa Marina (assuming a deposit and registration/insurance paperwork is provided). 2. Stationing a security guard at the Balboa Marina on Friday and Saturday nights from 5:30 p.m. to 11:30 p.m., and on Sundays from 4:00 p.m. to 10:00 p.m. to assist boaters back onto the docks. 3. Providing Sol and 3 -Thirty -3 restaurants magnetic keys to assist boaters to gain access to the docks. 4. Improving existing signage to direct boaters to the public dinghy docks. As we conveyed to you at our January 28, 2010 meeting, the City is looking to Cal Rec to provide public access to the docks during the hours when the security guard is not present and when the restaurants are closed. You told us you would look into this issue further and explore ideas to enhance public access at the Balboa Marina. But to date we have not received your revised public access plan. Please understand that public access at Balboa Marina is a priority for the City, and formed the basis for the Commission's original recommendation to approve 829 Harbor Island Drive, Newport Beach, CA 92660 PH: (949) 644-3034 FX (949) 723-0589 e -,vww.newportbeachca.gov/harborresources Mr. Greg Sinks, General Manager California Recreation Company April 13, 2010 the Balboa Marina on February 14, 2007. The City desires for Cal Rec to draft a public access plan that will provide meaningful public access, rather than the limited access currently provided. Please provide the City with Cal Rec's revised public access plan by Friday, April 30, 2010. Failure to submit a revised public access plan that addresses the City's concerns may result in the referral of this matter to the Commission and City Council for review of Cal Rec's pier permit at the Balboa Marina. Please contact me at (949) 644-3043 if you have any questions regarding the information contained in this letter. Thank you for your anticipated cooperation, we look forward to receiving your revised public access plan. Sincerely, Chris Miller Harbor Resources Manager cc: Leonie Mulvihill, Acting City Attorney PO -qJ1 FO December 31, 2008 California Coastal Commission Attn: Karl Schwing 200 Oceangate, STE 1000 Long Beach, CA 90802-4416 Army Corps of Engineers Attn: Dan Swenson 915 Wilshire Blvd. Los Angeles, CA 90017 140161,11 POW I DVA';ZORR'li 1 001 DY'AW *9'1 Santa Ana Regional Water Quality Control Board Attn: Adam Fischer 3737 Main Street, STE 500 Riverside, CA 92501-3348 Subject: Regional General Permit No. 54 — Dredging Application Submittal, 201 East Coast Highway, Newport Beach, California This application is for a supplemental dredging project at Balboa Marina that was previously approved by your agency. The approved dredge project at 201 East Coast Highway is currently underway and is estimated for completion in late January. Please expedite this application so as to allow the subject project to immediately follow in late January without re -mobilization of dredge equipment or delay. Your immediate attention is greatly appreciated. Please contact me with any comments or questions. Yours truly, Cfiris Wiffer Harbor Resources Manager emiller@city.newpoi-t-beach.ca.us (949) 644-3043 829 Harbor Island Drive, Newport Beach, CA 92660 PH: (949) 644-3034 FX: (949) 723-0589 e Website: www.newport-beach.ca.us/HBR/ Applicant Name Project Site Address HARBOR RESOURCES DIVISION 829 Harbor Island Dfive Newport Beach, CA 92660 (949) 718-1844 Fax (949) 723-0589 www.newport-beach.ca.us/hbr M Applicant address, phone number Agent & Contractor name, address, phone number (if applicable) Project site address Assessor's parcel number Dredge site latitude and longitude Disposal site: Beach disposal latitude and longitude Ocean disposal LA -3 Purpose and final goal of dredging Method of dredging. Vessel and equipment description. Vessel(s) Captain, Dredging & Disposal Inspector Cubic yards dredged and disposed ( must be less than 1,000 cy.) Area impacted (in acres) El If beach disposal, linear feet of affected beach area Dredging and Disposal Operations Schedule Scaled drawings (plan view and cross sectional view) Site address Location within the Harbor 829 Harbor Island Drive, Newport Beach, CA 92660 PH: (949) 644-3034 FX: (949) 723-0589 sWebsite: www.newport-beach.ca.us/HBR/ Dredging Application City Checklist Page 2 Location of existing dock structures Location of existing dock structures on adjacent properties Location of Bulkhead, Pierhead and Project Lines Dredge depth (limited to -7 MLLW with a V allowable overdraft) Photo(s) of dredge and disposal areas at low tide (including 30' buffer area) Eelgrass Survey Survey for presence of eelgrass within 30' of the entire project area El Yes No Eelgrass within 15' of entire project area. Project not permitted. El If ocean disposal and eelgrass is located greater than 15' from the project area, then no further monitoring required El If beach disposal and eelgrass is not located within 30' of the project area, then no further monitoring is required El If beach disposal and eelgrass is located between 15' and 30' from the project area, then pre- and post-monitoning is required E] Pre -monitoring survey attached El Post -monitoring survey attached. Date submitted: DU Eelgrass Stamp Caulerpa Survey X Survey for Caulerpa within 30' of the entire project area Grain Size Analysis (1) sample per 1/4 acre and / or at least (1) sample at dredge site and (1) sample at beach disposal site (if applicable) Beach disposal: El Sample(s) must be at least 80% sand, or; El At least 75% sand and within 10% of the sand content of the receiver beach Ocean Disposal: M Sample(s) must be less than 80% sand Project is over (check one box): M City Tidelands Dredging Application City Checklist Page 3 0 County Tidelands (State Lands Commission Dredge Lease Approval) If applicable, check one box: M The Irvine Company owner's approved area El Bay Island owner's approved area 0 Dover Shores owner's approved area El Linda Isle owner's approved area Check made payable to The City of Newport Beach Check for $60 made payable to Santa Ana Regional Water Quality Control Board Signed application Neighbor notification POST DREDGING Post Dredging Report. Date submitted: Post eelgrass monitoring (if applicable) 01/09/2009 09:08 FAX US ARMY CORPS. Z 002/007 -1- DEPARTMENT OF THE ARMY LOS ANGELES DISTRICT, CORPS OF ENGINEERS P.0 BOX 532711 LOS ANGELES, CALIFORNIA 90053-2325 January 9, 2009 RULY TO ATMIU 10.N 0�! Office of the Cl -def Regulatory Division Mr. Dean Kirk The Irvine Company C/O! Lisa Walters City of Newport Beach Harbor Resources Division 829 Harbor Island Drive Newport Beach, California 92660 Dear Mr. Kirk., This is in reply to your application (File No, SPL -2009-00 31, 2008, for a Department of the Army Permit to discharge fill association with maintenance dredging at 201 East Coast High site for the Ruben E, Lee. The proposed work would take place Coast Highway in Newport Bay within the City of Newport B( California, -FBV) dated December :o waters of the U.S., in �, the former mooring 7ward of 201 East i, Orange County, Based on the irtformation you have provided, the Corps of rigineers has determined that your proposed activity complies with the terms ind conditions of Regional General Permit (RGP) No. 54 -Maintenance Dredging, B ?ach Nourishment, and Dock Maintenance. As long as you comply with the general permit conditions f RGP No, 54 - Maintenance Dredging, Beach Nourishment and Dock Maintenance, an individual permit is riot required. 01/08/2008 09:OB FAX US ARMY CORPS. -2- Specifically, you are authorized to: 1. Dredge up to 1,000 cubic yards of material over a 0. 18 ac� 2. Dredgi: material with a mechanical clamshell dredge "D13 3. Transport and discharge dredged material at ocean dispos A general permit does not grant any property rights or exc it does not authorize any injury to the property or rights of other interference with any existing or proposed Federal project. Furth obviate the need to obtain other Federal, State, or local authoriza 1@ 002/007 area; "; and site LA -3. isive privileges. Also, or authorize rmore, it does not ons required by law. Thank you for participating in our regulatory program. If ou have any questions, please contact Forrest Vanderbilt at 213.452,3289 or via e-mail at Forrest. B.Vanderbilt@usace. army mil. Please be advised that you can now comment on your exy Regulatory Division by accessing the Corps web -based customer httl2://12er2.nwp.iisace,army.rnil/survey.h,tm , Sin;erely, Mark Durhai Chief, South Regulatory E Enclosure with form at, Branch Id . -97. 4T 01/09/2003 00:08 FAX US ARKY CORPS. Z 00G/007 i" L; Lo -1, LOU CD W LLI 0 0�, Ou RV 69 If Lo 0 g 9A AL 'k t -8vq qo!c WWOL 5m Z 00G/007 i" L; Lo -1, LOU CD W LLI 0 0�, 01/09/2009 03:08 FAX US ARMY CORPS. Z 007/007 C'-" q (D� 01/0a/2009 00:08 FAX US AR�4'1' CORPS. [a 001/007 =' I -Iffil nn =111- III rzy-- LOS ANGELES DISTRICT U.S. ARMY CORPS OF ENGINEERS REGULATORY DIVISION 915 Wilshire Blvd., Los Angeles, CA. 90017-3401 P.O. Box 532711 Los Angeles, CA. 90053-2325, (213) 452-3425 FAX- (213) 452-4196 FACSIMILE TRANSMITTAL MOM Date: January 9, 2009 To :Lisa WalTers; Harbor Resources Division Fax # 949 -723 -05 8 9 To: Faxft: From; Forrest Vanderbilt F,e; RGP 54: 201 East Coast Highway File #,, 2009-30-FBV Comments; Mark Durham .... ........ (0416) Cori Farrar. (x3296) Yvette Cardenas .............. (0418) Dan Swenson ................. (x3414) Faj,rest Vanderbilt ............ (x3289) Francine M. N varez ......... (X3409 Gerry Salas ................. (0417) Jae Chun& ..................... (0292) Jason Loinbert ........... --(x3361) Valisa Nez ...... .............. (0419) Ken Wong ..................... (x3290) Mark Cohen ........ ----(0413) Shanrion Panku atz.. . ......... (x3412) Stephanie Hall ............... (x3 410) ................ (0408) Phuong Trinh . ............... (x3372) Sophia Huynh ........ (0357) Swidra villane a Signature: page(s) to follow Should you, have any difficulty in receiving all pages, please contact our offict either directly to the sender above, or the main office number at (213) 452-3421, cIa o a) o o C o <\j m O m CY) OD ro a) w ro a r+J o m C o N , N O O M U +1 X U) U N Q u U N O Z co N o �X o U O U oN ro m \ rl co UM ro r N m f LL rl 41 LU ro ff1 Q M LU M LLJ z W ® a Cl) �4 Cl) m 04w a ® o \ M 41 N 41 N Q rl U SD4 U E ® O 3\ o Lz 0 N CCW �k co 4J O C.).rA 'o u 2 U E4 M 4 H 41 O N O O M U J). N U N ® 2 W N o o U o ODx o U N 10 o Q U N m LLFN H p LU j Cl) Cl) LU D U) LLF z LU N G c Cl) N C% W Cil v rl R O 00 -) ® {J O U O M U 1 N _l " a �a v Q) a > w" a G �E H ®@ a o 21 > N � � N H ri �k00 4j O0 Uro ro Ln E co 1.'---!!!1r!1-0 W 13 v. 6-22-07 HARBOR RESOURCES DIVISION 829 Harbor Island Drive Newport Beach, CA 92660 4� (949) 644-3044 Fax (949) 723-0589 www.newpoi1-beacb.ca.us/hbr DREDGING APPLICATION Regional General Pennit 54 CDP 5-06-117 & CC -031-06 Corps File No. 200501233 -DPS Water Board ConsistencyPermit Valid Until October 4, 2011 Applicant Name, Address, Phone Number: Mr. Dean Kirk, The Irvine Company - (949) 720-2878 550 Newport Center Drive Newport Beach, California 92660 Agent & Contractor Name, Address, Phone Number (if applicable): Dr. Joshua Burnam, Anchor Environmental - (9491347-2787 28202 Cabot, Suite 425 Laguna Niguel, California 92677 Project Site Address: Assessor's Parcel Number: 1 201 East Coast Highway, Newport Beach, California See Attachment A Dredge Site: Latitude 133 36'55.91 Longitude 1 117 5416.08 Disposal Site F— Beach Disposal: Latitude Longitude R Ocean Disposal (LA -3): Latitude 33'31'00" Longitude 117'53'30". Purpose and Final Goal of Dredging (Effect on Bulkhead and Beaches): Eemlof shoal at former Ruben Lee site. The dredging will not affect any bulkhead or beach. The purpose v is to facilitate safe navigation at Balboa Marina. Regional General Permit 54 Dredging Application Page 2 Method of Dredging (Hydraulic, Clamshell, Tractor etc ... ), Vessel and Equipment Description: Mechanical Clamshell dredge "DB -3" - See Attachment D Vessel(s) Captain Brad Shoffitt - Dutra Dredging F I Dredging Operations Inspector lAndrew Hunt - Dutra Dredging I Disposal Operations Inspector lRay Waters - Dutra Dredging . I Cubic Yards Dredged and Disposed (Must be less than 1,000 cy. total): 1110-00 Area Impacted (in acres): If Beach Disposal Is Used, Linear Feet of Affected Beach Area: Acres Linear Feet Estimate of Quantity of Material Dredged From or Disposed Onto the Site From Previous Activities: FNone Dredging and Disposal Operations Schedule: lEst. 2-3 days of dredging during 1 st week of February, 2009 Please submit the following on a separate page. Use the check boxes to ensure a complete application is filed. Incomplete applications will not be processed. FX- Scaled drawings of the project and disposal areas (plan view and cross sectional view) IX7 Site address Fx Location within the Harbor FX' Location and physical dimensions of existing structures on subject site (e.g. float, pier, gangway, pile and bulkhead) R Location and physical dimensions of existing structures on adjacentproperties R Location of Bulkhead, Pierhead and Project Lines Fx- Dredge depth (limited to -7 MLLW with a P allowable overdraft) rx- Photo(s) of entire dredge and disposal areas at low tide (including 30'buffer area), with emphasis on eelgrass Regional General Permit 54 Dredging Application Page 3 R Eelgrass Survey - Completed by a Certified Eelgrass Diver A. Survey for the presence of eelgrass within 30' of the entire project area (dredge and disposal site) B. If eelgrass is within 15' of project area, then the project will not be permitted. (An Individual Permit must be sought.) C. If ocean disposal: • Any eelgrass must be located greater than 15' from project area • No further eelgrass monitoring is required D. If beach disposal: • If eelgrass is not present within 30' of the project area, then no further monitoring is required • If eelgrass is present between 15'to 30' of the disposal project area, then pre- and post -monitoring is required. See Harbor Resources website for pre - and post -monitoring requirements -vvww.newport-beach.ca.us/hbr F Caulerpa Survey - Completed by a Certified Caulerpa Diver A. Survey for Caulerpa. within 30'of the project area (dredge and disposal site) R Grain Size Analysis A. (1) sample per 1/4acre and / or at least (1) sample at dredge site and (1) sample at beach disposal site (if applicable) B. If beach disposal, sample(s) must be at least 80% sand 1X_ Project is over (check one box):. 1X_ City Tidelands F County Tidelands (State Lands Commission. Dredge Lease Approval) rx— If applicable, check one box: FX_ The Irvine Company owner's approved area F Bay Island owner's approved area F Dover Shores owner's approved area F Linda Isle owner's approved area FX_ Check made payable to The City of Newport Beach (See Harbor Resources website for appropriate fees) FX_ Check for $60 made payable to Santa Ana Regional Water Quality Control Board Project areas at the Rhine Channel, Newport Island, Promontory Bay, the West Lido Channel orftom within 1,000 feet in any direction from the 15 th Street public pier are not eligible for dredging under this Permit. Regional General Permit 54 Dredging Application Page 4 1. JJoshua Burnam, Anchor Environmental ' (Applicant / Agent), hereby certify that the information on this application is accurate and complete. I also certify that I have read the California Coastal Commission Permit 5-06-117 & Federal Consistency Certification CC -031-06, the Army Corps of Engineers Regional General Permit No. 54 (File No. 200501233 -DPS) and the California Regional Water Quality Control Board General Certification for Regional General Permit No. 54 for maintenance dredging in Newport Harbor and that I will comply with all of the conditions in.those permits. I also certify that by acceptance of this Permit, the applicant acknowledges and agrees that the site may be subject to hazards from waves and erosion. I will further hold the City of Newport Beach harmless from and indemnify the City against any claim for damages arising out of the exercise of these permits. In addition, I shall reimburse the City of Newport Beach for all attorney's fees and other costs expended by them in defending any claim, lawsuit, or judgment arising out of the activities of the applicant carried on under the authority of such Permit. I understand that any work authorized must be completed by October 4, 2011 after which a new authorization is required. I also understand that the applicant will submit a Post Dredging Completion Report no later than 30 calendar days after completion of each dredging project. All work scheduled to be completed before 7:00 AM or after 6:00 PM (Monday - Saturday) or on Sundays or holidays must be approved by Harbor Resources. Per the RGP Permit, all dredging applications will be processed by the various agencies through monthly batch submittals sent to them by Harbor Resources. Therefore, all dredging applications must be submitted to and received by Harbor Resources by the I "Monday of evm month. Applications submitted prior to this deadline are encouraged and appreciated. )'I- I �i)p -? Applicant anU / or Agent ANCHOR 7,0�a�— ENVIRONMENTAL CA, L.P. December 29, 2008 070483-01: Mr. Chris Miller City of Newport Beach, Harbor Resources Division 829 Harbor Island Drive Newport Beach, California 92660 Anchor Environmental CA, L.P. 28202 Cabot Road, Suite 425 Laguna Niguel, California 92677 Phone 949.347.2780 Fax 949.347.2781 Re: Request for Maintenance Dredging Under Regional General Permit 54 for Balboa Marina Dear Mr. Miller: On behalf of The Irvine Company (TIC), Anchor Environmental CA, L.P. (Anchor), is respectfully requesting approval under the City of Newport BeacWs (City's) Regional General Permit (RGP) 54 for maintenance dredging of up to 1,000 cubic yards (cy) of material adjacent to the Balboa Marina project area (Figure 1). Specifically, TIC and its contractors have identified an area of shoaling near the former Ruben E. Lee site, which is outside of the current project area, that represents an operational constraint to the marina. Issuance of a RGP 54 approval for removal of this shoal will help immediately reduce this concern and allow TIC to both ensure maximum safe use of the new marina and take advantage of our contractor who is already mobilized on site. TIC is hereby submitting this request pursuant to RGP 54 and with the Applicant's agreement to abide by all conditions of the permits. All other required resource agency approvals are in hand for the related Balboa Marina dock replacement project, and the removal of the shoaled material under RGP 54 has independent utility from this project. TIC is currently replacing the docks at Balboa Marina, and dredging of the shoal is an independent project and unrelated to the dock replacement, which TIC would be doing with or without the dock replacement. Below is information required and/or requested by the agencies to facilitate issuance of an approval. Mr. Chris Miller December 29, 2008 Paee 2 IDENTIFICATION OF THE APPLICANT, AGENT, AND SITE OWNERSHIP The shoal to be removed is located at Balboa Marina, 201 East Coast Highway in Newport Beach, California. TIC is the Owner of the property and has the ability to perform the subject dredging. Evidence of ownership of the site and the ability to perform -the dredging as requested under Conditions 1(c)v and 1(c)vi of the California Coastal Commission (CCC) permit is included in Attachment A. The Applicant is: Mr. Dean Kirk The Irvine Company 550 Newport Center Drive Newport Beach, California 92660 Anchor is the Apphcanf s Agent in this matter. The Agent' s contact information is: Dr. Joshua Burnam Anchor Environmental CA, L.P. 28202 Cabot Road, Suite 425 Laguna Niguel, California 92677 VOLUME AND AREA TO BE DREDGED The location of the shoal and area to be dredged is depicted on Figure 1. The volume of this removal is 1,000 cy and covers approximately 8,000 square feet. The design depth is of the cut -6 mean lower low water (MLLW) plus I foot of additional overdepth. . Photographs are included as Figure 2. EELGRASS The footprint of Balboa Marina was surveyed for eelgrass and Caulerpa taxifolia in October of 2008. No eelgrass or Caulerpa taxifolia were found in this area of the shoal. A letter from Mr. Rick Ware, of Coastal Resources Management, indicating that no eelgrass or Caulerpa taxifolia were found in this area is included as Attachment B. Mr. Chris lvhtler December 29, 2008 CHARACTERIZATION OF THE MATERIAL The area to be dredged is approved under RGP 54 (RGP 54 station 2-1 is in fact located within a few hundred feet of the shoal). In regards to potential beach placement, the entire Balboa Marina footprint was extensively sampled in May of 2007 for the Balboa Marina dock replacement project. The material was comprised of less than 50 percent sands and determined by the U.S. Army Corps of Engineers (USACE) and U.S. Environmental Protection Agency (USEPA) to be chemically suitable for disposal at LA -3 but unsuitable for beach placement. Therefore, the Applicant would dispose of the shoaled material at the approved LA -3 ocean disposal site. DREDGING OPERATIONS, WATER QUALITY MONITORING, AND BEST MANAGEMENT PRACTICES Dredging would be conducted in Upper Newport Bay. The Applicant is currently utilizing a mechanical dredge and dump scows for the dredging at Balboa Marina. The Applicant is monitoring water quality during dredging (including monitoring for turbidity, dissolved oxygen [DO], and pH) as required under the 401 Water Quality Certification issued for the Balboa Marina dock replacement project (Attachment C), The water quality monitoring provisions for RGP 54 are equivalent and satisfied by continued implementation of this program. In addition, the Applicant is utilizing the following best management practices (BMPs): • Encompassing the dredge and disposal scows in a continuous floating silt curtain • Using debris separation during dredging • Inspecting dredged material disposal scows to ensure proper loading and no leakage during transport • Conducting daily site inspections (completed by the Construction Manager) • Conducted a Contractor Education Program In addition, the Applicant has received approval for their Dredging and Disposal Operations Plan (Attachment D) for Balboa Marina and received Notice to Proceed with dredging. The Applicant will continue to follow all the procedures set forth in the Dredging and Disposal Operations Plan. Mr. Chris Miller December 29, 2008 Given the fact that dredging has begun at Balboa Marina, we respectfully request the City to certify that our request is consistent with RGP 54 and transmit that certification and our request for Notice to Proceed to the USACE as soon as possible. We are obviously interested in removing this shoal as soon as feasible in order to maximize the use of our contractor already on site. Please do not hesitate to contact me with questions at (818) 378-4635 or by email at jbumam@anchorenv.com. Sincerely, Joshua Bumam, MPH, D.Env. Anchor Environmental CA, L.P. CC: Mr. Greg Sinks, TIC Mr. Dean Kirk, TIC FIGURES LINA, I a - C3 8 I Ono I -M51 -- 0) LD . r- :2 -am 0) ca 'D X E a) 0 CD m -0 0 <D cu ca a) CL Cc$ .6 � 2 0 CL b cz ce) 0 0 a) Lo u-) 2 CL :t-- ng w co w 6 6 Lu`� 0 CD 0 ', w Lu'k 0 Ell & 1, 0 M R LLJ 0- 0 a - C3 8 I Ono I -M51 -- 0) LD . r- :2 -am 0) ca 'D X E a) 0 CD m -0 0 <D cu ca a) CL Cc$ .6 � 2 0 CL b cz ce) 0 0 a) Lo u-) 2 CL :t-- ng w co w 6 6 Lu`� 0 CD 0 ', w Lu'k 0 Ell & 1, 0 M R 5 cd' 0 00 0 0 N O M N LM C14co0) @o o L o (n L N � 13 C O L O_ N 2 o LT L O co O N �1 L a ATTACHMENT A EVIDENCE OF SITE OWNERSHIP AND ABILITY TO PERFORM DREDGING CS INU/ ai ra t9 co w C)o rn 00 CIO Bt ct ko ko 0) t", Aj, -------------- (S4 tp, C2 g" Z�. -A, 18: U-) Ln PR ?A: ct: 2 . Ckz LU ,q- LLJ LAJ IN\ �Z �'s I's Rn; IL 71 —7'�7,- I v LQ LU Lo V) V) (:FD 9 Jl/ ATTACHMENT B COASTAL RESOURCES MANAGEMENT LETTER Ms. Jennifer Pettis Anchor Environmental LC 28202 Cabot Road, Suite 425� Laguna Niguel, California 92677 November 20, 2008 Re: Potential dredging effects on eelgrass and invasive algae near the previous site of the Newport Harbor Nautical Museum Dear Ms. Pettis: In regards to your request for additional information re: the potential effects of additional dredging that might be required near the previous site of the Newport Beach Nautical Museum (at the northwest comer of the Balboa Marina), it is highly unlikely that eelgrass (Zostera marina), or invasive algae (Caulerpa taxifolia) is present at that site, based upon the results of previous surveys conducted at the project site by CRM in 2008, 2007, and 2006. Neither of these species was present during previous surveys conducted at the project site by Coastal Resources Management, Inc. in 2008 for the Balboa Marina Pre -Construction Eelgrass Survey; in 2007 for the City of Newport Beach Baywide eelgrass survey project (City of Newport Beach Website, 2008; CRM in progress), or in a site-specific survey conducted by Coastal Resources Management, Inc in October 2006, for the removal of Nautical Museum from the site in 2006. Therefore, I would not anticipate any impacts to eelgrass bed resources or Caulerpa invasive algae from any additional dredging that might be required at the project site. Please call me if you have any questions. Kindest regards, COASTAL RESOURCES MANAGEMENT, INC. Rick Ware President/Senior Marine Biologist Coastal Resources Management, Inc. PMB 327, 3334 E. Coast Highway, Corona del Mar, CA 92625 (949) 412-9446 (949) 675-2970 (fax) email rware.cnn@earthlink.net Sources: Coastal Resources Management, Inc. 2006. Eelgrass (Zostera marina) and Invasive Algae Survey Reporting Forms. Newport Harbor Nautical Museum 151 East Coast Highway, Newport Beach, CA. (Newport Bay). Survey Date: October l2th, 2006. Prepared for: Marshall Steele, Newport Harbor Nautical Museum Coastal Resources Management, Inc. 2008. Caulerpa taxifolia Survey Reporting Form and Pre - Construction Eelgrass Survey Impact Analysis. Balboa Marina Renovation Project. Prepared for: The Irvine Company, 550 Newport Center Drive, Newport Beach, CA 92660. Survey date: September 15th, 2008. Coastal Resources Management, Inc. (in progress). Bay -wide Eelgrass (Zostera marina) Distribution, Abundance, and Biology. Prepared for the City of Newport Beach Harbor Resources Department. Results of surveys conducted between July 2006 and August 2008. (Maps are present on the City of Newport Beach Internet Website). Coastal Resources Management, Inc. PMB 327,3334 E. Coast Highway, Corona del Mar, CA 92625 (949) 412-9446 (949) 675-2970 (fax) email rware.cnn@earthlink.net DREDGED MATERIAL EVALUATION FOR THE BALBOA MARINA DOCK REPLACEMENT PROJECT NOVEMBER 2007 PREPARED FOR: THE IRVINE COMPANY NEWPORT BEACH, CALIFORNIA N: Isitv F -E L �D S Wl Az. � 906. A Z7 UU Dredged Materia! Evaluation for Me Balboa Marina Dock Replacemie,,7tProject Figure 2-2. Existing Bathymetry with Proposed Sample Areas and Station Locations. 7 440 Dred-Iged Material Evaluation for t1?e Balbc)a Marina Dock Replacernent Project 3.2 PHYSICAL AND CHEMICAL ANALYSES OF SEDIMENT Physical characterizations of the collected sediments including grain size determination, percent solids, and total organic carbon (TOC) content were performed on subsamples from each of the individual stations, the reference area samples, and the four composite samples. Chemical analyses for inorganic metals, organotins, pesticides, PCB aroclors, and PAHs were conducted on the four composite samples and the two reference area samples. Quality assurance review of the analyses was performed by NewFields and is included in this report as Appendix A. Laboratory reports can be found in Appendix C. All samples were received, preserved, and analyzed within acceptable holding times. With a few exceptions discussed where applicable, all QA/QC criteria were met. 3.2.1 Physical Characteristics Physical characteristics of the composite and reference area samples are shown in Table 3-2; data for the individual station samples, are included in Appendix C. Quality control criteria were met for these analyses. The sediments in the project area are dominated by silts and clays with gravel and sand (�-62.5lam) only accounting for about 12 to 15% of the composite samples (Table 3-2); the reference areas are made up of coarser material with the sand fraction comprising 38 and 89% of the sample for LA -3 and LA -2, respectively. Sediment grain size in the individual stations was consistently dominated by fine -gained silt. With the exception of Stations 19 and 20, sediment grain size was consistent across the project area. Percent fines in Stations 19 and 20 were 64% and 74%, respectively. TOC content was between 0.95 and 1.4% in the composite samples, similar to that in sediment from LA -3 Reference. With the exception of Stations 8 (0.64%) and 16 (2.0%), TOC content was consistent across the project area, ranging from 0.82% to 1.29% Table 3-2. Physical Characteristics of Sediment, Balboa Marina Ila ytd'' om si es.-: e % (Awresuift, in Y: �CWCOMIP'., WW 0 cm 00 ',E mtomp'�. 'R 'f IL4 f Gravel 0.1 0.6 1.2 0.1 0.1 0.0 Sand 12.4 13.6 10.4 15.8 88.8 38.6 silt 45.0 44.0 44.7 40.9 6.4 45.3 Clay 42.5 41.8 43.7 43.2 4.7 16.1 Total Organic Carbon 0.95 1.18 1.40 1.04 0.33 1.64 Percent Solids 48.9 47.8 43.8 44.2 70.0 44.0 3.2.2 Inorganic Metals Composite and reference area samples were analyzed for ten metals (Table 3-3). Quality control measures were met for these analyses, with the exception of reporting levels for several of the metals; however, all samples contained detectable quantities for those metals. The achieved reporting limit for silver was below the effects range -low value for biological effects. The selenium reporting limit was similar to those used for previous projects in Newport Bay. LDS .. . ......... ... ......... . ............. ... . 0 11HE IRVINIE COMPANY March 22, 2006 California Coastal Conitnission 200 Oceangate, Suite 1000 Long Beach, CA 90802 Attention: Karl Schwing Subject- Linda Isle Dredging Froje'et Newport Beach, California To Whom It May Concern: The Irvine Company LLC ("TIC') is.the fee owner of much of the land under the private waterway surrounding Linda Isle on the north and west sides in Newport Harbor. More specifically, based on the Orange County Assessor's maps, TIC owns the land between the bulkhead line and the center,of the channel adjacent to Lots 1, 3, 4, 5, 6, 7, 8, 9, 11, 12, 14, 15, 16, 18 of Tract 4003; between the bulkhead line and the pier head line adjacent to Lot 8 8 of Tract 40.03 (westerly,jim only);,beNmen.the -bulkhead line and the other si . de of the channel adjacent to Lots 90' . 91,92, 0, 9 1 5, - 9 7,- . 98 :., 10 1 1 1 0 4, 106 and 107 of Tract No. 4003; and between the bulkhead line and the center of the channel adjacent to Lots 2, 3 12, 14 16 and 18 of Tract No. 328�. TIC, as landowner, hereby.consents to the dredging of silt in the channel adjacent to the lots described above under the City of Newport Beach's Regional.,Gencral Permit No. 54, through the endof the ten,n of such permit in 2011. This letter is for the purpose.of giving consent only; the dredging is being performed by others and TIC shall have no responsibility or liability in connection with such work. Very truly yours, 550 Newport Center brive, P.O. Box 6370, Newport B6ach, California 92658-6370 * (949) 720-2000 ATTACHMENT C 401 WATER QUALITY CERTIFICATION <LN"i i�J Linda S. Adams Secresaryfor EnWrommental Prmcfion Caffornia Regional Water Quality Control Board Santa Ana Region January 4, 2007 3737 Main Street, Suite 500, Riverside, Cidifomia 92501-3348 Phone (951) 782-4130 , FAX (951) 791-6288 - MD (951) 782-3221 Arnold Schwarzenegger wwwwaterlbow&cigov/sanuiana Gavemor scot Scialpi The Irvine Company 550 Newport Center Drive Newport Beach, CA 92660 CLEAN WATER ACT SECTION 401 WATER QUALITY STANDARDS CERTIFICATION FOR THE BALBOA MARINA DOCK REPLACEMENT PROJECT, CITY OF NEWPORT BEACH (ACOE REFERENCE NO. NOT AVAILABLE) Dear Mr. Scialpi: On October 26, 2007, we received an application for Clean Water Act Section 401 Water Quality Standards Certification (Certification) for the proposed rqplacement of the Balboa Marina docks in the City of Newport Beach. On November 25, 2007, your application was deemed complete. This letter responds to your request for certification that the proposed project, described in your application and summarized below, will comply with State water quality standards outlined in the Water Quality Control Plan for the Santa Ana River Basin (1995) and subsequent Basin Plan amendments: Project Description: Replacement of an existing dock system with a new 20,931 - square foot dock with 105 boat slips ranging from 20 to 58 feet in length and installation of tieback anchors behind the existing seawall. The new dock'system will include the installation of a new sewage pump -out station, new lighting, fire fighting facilities, and electrical power, water supply, and communication connections. Approximately 36,000 cubic yards of sediment below the new dock system will be excavated for anticipated off -shore disposal at LA -3. The project is located between Pacific Coast Highway and Lido Island within Sections 26 and 27 of Township 6 South, Range 10 West, of the U.S. Geological Survey Newport Beach, Calffibmis, 7.5 -minute topographic quadrangle map (33.6157 degrees NAI 17.9032 degrees W). Receiving water: Lower Newport Bay Fill area: 2.74 acres of temporary impact to a marine channel. Dredge/Fill volume: 36,000 cubic yards CaRfornia Environmental PMecdon Agency ro R-yded Paxr The Irvine Company -2- January 4, 2007 Federal permit: Rivers and Harbors Act Section 10 You have proposed,to mitigate water quality impacts as described in your Certification application. The proposed mitigation is summarized below: Onsite Water Quality Standards Mitigation Proposed: • A sewage pump -out facility will be provided for use by marina tenants. • Trench drains will be installed to intercept storm water runoff from the parking lot areas and convey runoff into storm drain inlet filters. Five new storm drain inlet filters will be added to remove pollutants from storm water runoff from the parking lot areas. • Adequate trash containment facilities will be provided for marina tenants and visitors. • The Irvine Company will participate in the "Clean Marinas California Program". • A program will be implemented to inform visitors and tenants of best management practices (BMPs) to prevent the discharge of pollutants into the marina. The program will include installation of educational signage and distribution of water quality protection materials. • Additional site-specific BMPs are specified in the site's Water Quality Management Plan (WQMP) and will be specified in the Storm Water Pollution Prevention Plan (SWPPP). • 410.7 square feet of selgrass beds will be excavated in the project area. 492.8 square feet of eelgrass beds will be created in an 8 -foot zone along the marina bulkhead. Creation of suitable area will involve placing dredged material in the mitigation zone to raise the sea floor to an appropriate depth. The creation effort will. be completed according to the National Marine Fisheries Service's Southern California Eelgrass Mitigation Policy. Offsite Water Quality Standards Mitigation Proposed: 9 No offske water quality standards mitigation is proposed. Should the proposed project impact state- or federally -listed endangered species or their habitat, implementation of measures identified in consultation with U.S. Fish and Wildlife Service and the California Department of Fish and Game will ensure those impacts are mitigated to an acceptable level. Appropriate Best Management Practices will be implemented to reduce construction -related impacts to Waters of the State. This project is over one acre. Therefore, coverage under the State Water Resources Control Board's General Permit for Storm Water Discharges Associated with Construction Activity, Water Quality Order 99-08 DWQ, is required, as is development of a Storm Water Pollution Prevention Plan (SWPPP), to control the discharge of pollutants from the project site. California Environntental Protection Agency co _ReqmkdPWr The Irvine Company -3- January 4, 2007 You have applied for a federal permit from the U.S. Army Corps of Engineers in compliance with Section 404 of the Clean Water Act and Section 10 of the Rivers and Harbors Act. You have applied for a Coastal Development Permit from the California Coastal Commission. Pursuant to the California Environmental Quality Act (CEQA), the City of Newport Beach adopted a Mitigated Negative Declaration (MND) on February 14, 2007. The Executive Officer has considered the City's MND in the issuance of this Certification. This 401 Cerdfication is contingent upon the execution of the following conditions: Using generally accepted protocols, the discharger must survey for Caulerpa taxilblia, an invasive marine seaweed, to help locate and prevent its spread. If Caulerpa taxifolia is found prior to or during implementation of the project, the applicant must not begin or continue at that location until authorized by Regional Board staff. If the invasive seaweed is discovered, it is not to be disturbed, and the Regional. Board must be notified within 48 - hours of the location and date of the discovery. In addition, any sightings of Cauletpe taxifolia should be reported to the California Department of Fish and Game (William Paznokas at (858) 467-4218 (wDaznokas(cb-dfci.ca.g ) or the National Marine Fisheries Service (Robert Hoffman at (562) 980-4043 (bob. hoffmanO-noaa.goy)) within 24 -hours of discovery. Further information regarding Caulerpa taxifoli6 sightings, can be obtained at www.sccat.net. Should no Cauletpa be observed during the project, the applicant must notify the Regional Board of this fact when all construction has been completed. Please contact Wanda Cross at (951) 782-4468 concerning issues related to Caulerpa taxifolia. 2. Regional Board staff and other authorized representatives must be allowed: a. Entry upon premises where storm water treatment facilities are located, or where records are kept under the requirements of this Certification and applicable waste discharge requirements; b. Access to copy any records that are kept under the requirements of this Certification and applicable waste discharge requirements; c. To, inspect any facility, equipment (including monitoring and control equipment), practices, or operations related to the treatment of storm water runoff from the project site; and d. To photograph, sample and monitor for the purpose of assuring compliance with this Certification and applicable waste discharge requirements. 3. Materials must not be placed in a manner where �they could be discharged to surface waters except as authorized by this certification. In the event Calybrnia Environmenhd Protection Agency R,,).kdPq.,- The Irvine Company -4- January 4, 2007 that trash or debris is discharged to surface waters, the discharger must recover the material to the maximum extent practical. 4. Project activities must not depress the dissolved oxygen content of Lower Newport Bay below 5 mg/L as a result of controllable water quality factors. When natural dissolved oxygen content is less than 5 mg/L, the discharger must not cause further depression. 5. Project activities must not raise the PH of Lower Newport Bay above 8.6 or lower PH below 7.0 as the result of controllable water quality factors; ambient PH levels must not be changed by more than 0.2 units. 6. Project -related activities must not cause the background natural turbidity, as measured in Nephelometric Turbidity Units (NTUs), in the receiving waters to be increased by values greater than the following Basin Plan objectives at a distance of 100 feet from the activity: a. If natural turbidity is between 0 and 50 NTU, the maximum increase must not exceed 20% of the measured natural turbidity. b. If natural turbidity is 50 to 100 NTU, the increase must not exceed 10 NTU. C. If natural turbidity is greater than 100 NTU, the maximum increase must not exceed 10% of the measured natural turbidity. 7. An effective monitoring plan must be developed and implemented to document compliance with conditions 3, 4, 5 and 6 above. Any suspected violation of these conditions must be reported to Regional Board staff in writing within 24 -hours of discovery. The monitoring plan and records of monitoring activities must be maintained on site for the duration of the proposed discharge and be available for inspection by Regional Board staff. 8. Impacts to eelgrass must be compensated for according to the National Marine Fisheries Service's Southern California Eelgrass Mitigation Policy, including the creation of eelgrass beds. Any deficiencies in the mitigation effort must be addressed according to the Policy. 9. A copy of this Certification must remain at the project site for the duration of the work and be available for inspection upon request. Under California Water Code, Section 1058, and Pursuant to 23 -CCR §3860, the following shall be included as conditions of all water quality certification, actions: (a) Every certification action is subject to modification or revocation upon administrative or judicial review, including review and amendment pursuant to Section §13330 of the Water Code and Article 6 (commencing with Section 3867) of this Chapter. California Environmental Notecdon Agency CO Reqrledftper , The Irvine Company -5- January 4, 2007 (b) Certification is not intended and shall not be construed to apply to any activity involving a hydroelectric facility and requiring a FERC license or an amendment to a FERC license unless the pertinent certification application was filed pursuant to Subsection §3855(b) of this Chapter and that application specifically identified that a FERC license or amendment to a FERC license for a hydroelectric facility was being sought. (c) Certification is conditioned upon total payment of any fee required under this Chapter and owed by the applicant. Although we anticipate no further regulatory involvement, if the above stated conditions are changed, any of the criteria or conditions as previously described are not met, or new information becomes available that indicates a water quality problem, we may formulate Waste Discharge Requirements. In the event of any violation or threatened violation of the conditions of this certification, the violation or threatened violation shall be subject to any remedies, penalties, process or sanctions as provided for understate law. For purposes of sedion 401(d) of the Clean Water Act, the applicability of any state law authorizing remedies, penalties, process or sanctions for the violation or threatened violation constitutes a limitation necessary to assure compliance with the water quality standards and other pertinent requirements incorporated into this certification. In response to a suspected violation of any condition of this certification, the Santa Ana Regional Water Quality Control Board (Regional Board) may require the holder of any permit or license subject to this certification to furnish, under penalty of pedury, any technical or monitoring reports the Regional Board deems appropriate. The burden, including costs, of the reports shall be reasonable in relation to the need for the reports and the benefits to be obtained from the reports. In response to any violation of the conditions of this certification, the Regional Board may add to or modify the conditions of this certification as appropriate to ensure compliance. Pursuant to California Code of Regulations Section 3857, we will take no further action on your application. Please notify our office five (5) days before construction begins on this project. This letter constKutes a Water Quality Standards Certification issued pursuant to Clean Water Act Section 401. 1 hereby issue an order certifying that any discharge from the referenced project will comply with the applicable provisions of Sections 301 (Effluent Limitations), 302 (Water Quality Related Effluent Limitations), 303 (Water Quality Standards and Implementation Plans), 306 (National Standards of Performance), and 307 (Toxic and Pretreatment Effluent Standards) of the Clean Water Act, and with other applicable requirements of State law. This discharge is also regulated under State CaUfornia Envirommnial Protection Agency 0 R--x1edPqxr rhe Irvine Company -6- January 4, 2007 Water Resources Control Board Order No. 2003-0017-DWQ (Order No. 2003-0017- DWQ), "General Waste Discharge Requirements for Dredge and Fill Discharges That Have Received Water Quality Certification" which requires compliance with all conditions of this Water Quality Standards Certification. Order No, 200-0017-DWQ is available atwww.swrcb.ca.-gov/resdegLwAorders/2003/wq "/w o200?:0017.R Should there be any questions, please contact Adam Fischer at (951) 320-6363, or Mark Adelson at (951) 782-3234. Sincerely, �� \/. 6Ltt� GERARD J. THIBEAULT Executive Officer cc (via electronic mail): U. S. Army Corps of Engineers, Los Angeles Office — Jae Chung State Water Resources Control Board, OCC — Erik Spiess State Water Resources Control Board, DWQ-Water Quality Certification Unit — Bill Orme California Department of Fish and Game — Naeern Siddlqui U.S. EPA, Supervisor of the Wetlands Regulatory Office WTR- 8 — Eric Raffin! and Dave Smith APFA011cerfifications/balboa marina dock reo 302007-29 California Environmental Prolec&n Agency 0 RecyckdP*- ATTACHMENT D DREDGING AND DISPOSAL OPERATIONS PLAN DREDGING AND DISPOSAL OPERATIONS PLAN BALBOA MARINA DOCK REPLACEMENT Prepared for The Irvine Company LLC 550 Newport Center Drive Newport Beach, California 92660 Prepared by Anchor Environmental CA, L.P. 28202 Cabot Road, Suite 425 Laguna Niguel, California 92677 September 2008 Acronyms and Abbreviations BMP best management practice CY cubic yard DA Department of the Army DB -3 Dutra Dredge DB -3 Dutra Dutra Dredging Company E -Trac E -Trac Engineering, LLC MLLW mean lower low water NOS National Ocean Service USACE U.S. Army Corps of Engineers USEPA U.S. Environmental Protection Agency Dredging and Disposal Operations Plan October 2008 Balboa Marina Dock Replacement ii 070483-01 Table of Contents 1 INTRODUCTION ................................................................................................................................ 1 2 CONTACTS AND VESSELS INFORMATION ...................................... ; ........................................ 2 2.1 Condition 5A .................................................. 7*"*"*** . . ­* ........ .......... * ... * ' 2 2.2 Condition 5B .................................................................................................. I ............................. 2 3 DREDGING AND DISPOSAL OPERATIONS ................................................................................ 6 3.1 Condition 5C through 5D ......................................................................................................... 6 3.2 Condition 5E ............................................................................................................................... 6 4 DEBRIS MANAGEMENT PLAN ...................................................................................................... 7 List of Tables Table 1 Project Contact Information ........................................................................................... 2 Table2 Vessels ............................................................................................................................... 5 Table 3 Control Equipment and Monitoring ............................................................................. 5 List of Appendices Attachment A Pre -dredge Bathymetric Survey Dredging and Disposal Operations Plan 1�z October 2008 Balboa Marina Dock Replacement 070483-01 Introduction I INTRODUCTION Pursuant to Dredging Conditions 5A through 5F of Department of the Army (DA) permit ,SPL-2007-00372-FBV, The Irvine Company is pleased to submit the following information and request for Notice to Proceed with dredging at Balboa Marina. Dredging and Disposal Operations Plan 1�z October 2008 Balboa Marina Dock Replacement 1 070483-01 Contacts and Vessels Information 2 CONTACTS AND VESSELS INFORMATION 2.1 Condition 5A Project contact information is contained in Table 1. Table I Project Contact Information Name Title Phone Number Kurt Grant Bellingham Marine Industdes, Inc. (360) 990-6497 General Contractor Dutra Dredging Company (415) 258-6876 Office Bill Dutra Owner (415) 450-0871 Cell Dutra Dredging Company (415) 847-6640 Cell Ray Waters Project Manager (949) 646-1186 Fax Dutra Dredging Company (415) 519-4262 Cell Andrew Hunt Project Engineer (949) 646-1186 Fax Brad Shoffit Dutra Dredging Company PEoject Supervisor Cliff Hunt Dutra Dredging Co. (805) 223-5456 Administrative Safety Supervisor Adc Schuster Dutra Dredging Co. (707) 333-9338 CQ Manager I DB -3 Dutra Dredging Company VHF Channel 13,16, and 82 1 (916) 257-4642 Tugboat Roland Brusco Brusco Tugboat and Barge VHF Channel 13,16, and 82 Joshua Burnam Anchor Environmental CA, L.P. (818) 378-4635 Owners Representative/Construction Manager 2.2 Condition 513 Vessel names, types, sizes, and navigational/traddng information is contained in Tables 2 and 3. Material dredged during the Balboa Marina dock replacement project is being disposed at LA -3. In order to safeguard against dredge spoils overflowing into the ocean and Newport Bay during transit to the disposal site, disposal scows will only be loaded to 80 percent of bin capacity; and strict guidelines on acceptable weather and sea conditions will be followed in order to avoid potential overflow outside of the designated disposal area. Dredging and Disposal Operations Plan '�Z_ October 2008 Balboa Marina Dock Replacement 2 070483-01 Contacts and Vessels Information Table 2 Vessels Equipment Name Equipment Type Size DB -3 damshelldredge 5 cy bucket Scow No. 6 dump scow 3,000 cv Roland Brusco assist tugboat 75 feet by 18 feet Survey 1 survey boat 23 feet by 9 feet Notes: cy = cubic yard Table 3 Control Equipment and Monitoring PoWtion Azimuth Equipment Control VerticalControl TidalControl Control Software/Hardware Innerspace 448 Fathometer, 3 E -Trac Tide Survev 1 Trimble RS4000 Dearee Transducer Gauae Trimble Hvpack Max E -Trac Tide Dredge Trimble N/A Gauge Trimble Hypack Max Towing Tugboat E-Trac(Nobel Sys/ Roland Brusco Tdmble N/A N/A Sperry E -Trac Notes: NiA = not applicable E -Trac = E -Trac Engineering, LLC Prior to the start of a disposal trip, a barge certification checklist must be filled out and signed by a Dutra. Dredging Company (Dutra) representative. Scows are not permitted to depart for LA -3 until Dutra contract disposal requirements have been met. The system installed by E -Trac Engineering, LLC (E -Trac), is programmed to monitor the position, draft, and track -line history of scows from the start of the disposal trip through the disposal episode and back to the dredge area. This information is downloaded from the internet and submitted as record of disposal activities. In the event that the data is not available on the internet, backup data can be downloaded directly from the vessel by E-Trac's technicians. A radio -link connection between the dump scow and tugboat allows the captain to monitor the operating status of the unit installed on the dump scow as it is being towed to the disposal site. The system will be thoroughly checked prior to each disposal trip. Dredging and Disposal Operations Plan '�Z' October 2008 Balboa Marina Dock Replacement 3 070483-01 Contacts and Vessels Information E -Trac will be contacted immediately for prompt repairs when any problems with the systems are noticed. The tugboats are also equipped with navigation systems of their own, and captains are required to record each disposal trip using their system as additional backup data. Pursuant to the requirements of the permit, the Contractor's real-time scow tracking system has the following features: 1. Real-time display of the disposal scow's position on the towing tugboats 2. National Ocean Service (NOS) chart overlay documenting the scow's position from the dredge area to the disposal area - This feature gives the tugboat operator the ability to track the scow's position while passing out of the mouth of Newport Bay in the main outbound traffic lane, onto the LA -3 disposal site, and back into the Newport Bay Lower Harbor in the main traffic lane. - Traffic lanes to and from LA -3 will also be displayed. 3. Automatic data logging of the scows position, draft, date, time, and duration of the disposal at the LA -3 and nearshore disposal site - This data logging will occur during the trip, at approximately 20 -second intervals, and before, during, and after disposal, at approximately 2 -second intervals. 4. Heading, bearing, and distance from the scow to the center of the nearshore disposal - site and LA -3 5. Real-time disposal location via an internet website - The internet argos (etracweb.com) display of each scow load disposal trip to the disposal sites allows the U.S. Army Corps of Engineers (USACE) and U.S. Environmental Protection Agency (USEPA) to monitor each disposal trip via the internet. - The internet link also displays the position, draft, and location of the scow from the start of the disposal trip through the disposal area and back to the dredge area. Dredging and Disposal Operations Plan I�Z, October 2008 Balboa Marina Dock Replacement 4 070483-01 Contacts and Vessels Information The Contractor will collect the following information relative to each trip to LA -3. This information will be compiled and provided to the USACE and USEPA, per the requirements of the permit: 1. Scow certification checklist (weather, scow load, DDLS scow tracking verification) 2. LA -3 disposal location and duration plot 3. Data versus time plot - This illustrates the draft of the load and any changes during the disposal run and the time of the disposal and duration. A. NOS nautical chart disposaltrip plot - This data is a plot of the disposal trip referenced to its geographical location. Dredging and Disposal Operations Plan 1�z October 2008 Balboa Marina Dock Replacement 5 070483-01 Dredging and Disposal Operations 3 DREDGING AND DISPOSAL OPERATIONS 3.1 Condition 5C through 5D Material to be dredged from Balboa Marina was approved for ocean disposal at LA -3 by the USEPA and USACE. The project involves the dredging of approximately 34,000 cubic yards (cy) of material in order to reach project depths varying from -8 to -10 feet mean lower low water (MLLW), plus a 1 -foot overdepth allowance. The dredged material will be mechanically dredged via a clamshell bucket mounted to the Dutra Dredge DB -3 (DB -3) and placed directly into disposal scows tethered alongside the dredge. Scows will be transported to LA -3 using tugboat assistance. Dredging is scheduled to begin November 17, 2008, and will last approximately 25 working days. The Contractor has supplied the following dredging plan information: The scows will be positioned immediately adjacent to the DB -3 as to allow for the clamshell bucket to deposit the dredged material directly into the scow from the dredge prism. 0 Each clamshell bucket will be placed completely into the scow as to avoid a splash of material outside of the disposal barge. . The disposal barge will be filled to 80 percent capacity at which point tugboats will take the load to the disposal site. . Weekly, pre-, and post -hydrographic surveys will be conducted as per specifications for dredging and as part of the daily quality control. . Lead line soundings will be taken at 40 -foot intervals to assure tide -corrected depths are within the required lines and grades as specified in the specifications. 3.2 Condition 5E The pre -dredging bathymetric survey is included as Attachment A. Dredging and Disposal Operations Plan 1�z October 2008 Balboa Marina Dock Replacement 6 070483-01 Debris Management Plan 4 DEBRIS MANAGEMENT PLAN The source of material to be dredged is located at Balboa Marina. Based on the sampling and analysis program, the material to be dredged is primarily muds and sands. Debris to be encountered should be relative to historic marina operations and should include various debris associated with recreational marinas. The Contractor has the following debris management plan: . Solid waste: - A Grizzly (withl foot by 1 foot mesh) will be utilized on the disposal scows. Any material captured by the Grizzly will be decked and removed to a certified landfill. - All rubbish, garbage, and other discarded solid material, larger than 48 inches in any dimension, resulting from dredging and offloading operations will be retained on board the dredge in provided containers until transfer to appropriate refuse receptacles for upland disposal, as'necessary. - Refuse service used will be an acceptable local refuse company. 0 Chemical waste: - All chemical waste (such as oil and grease) will be retained onboard in special tanks until pumped off for disposal. - Waste oil service will be an acceptable local disposal firm. . Floating debris: - A tending workboat or skiff will be deployed to trap any floating debris resulting from the dredging operations. Once the floating debris has been isolated, it will be picked up by the workboat crew and retained for disposal in compliance with procedures for solid debris. - A containment boom and curtain will be put in place, as needed, if floating debris is encountered. - All debris, floatable or non-floatable, greater than 24 inches in diameter will be removed prior to disposal or placement of dredged material. In addition to the debris management plan, the Applicant and Construction Manager will implement the water quality monitoring plan required under the 401 Water Quality Certification for the project. The Contractor shall deploy, at all times during dredging, a continuous floating silt curtain and maintain proper best management practices (BMPs) to control turbidity and other controllable water quality factors. Dredging and Disposal Operations Plan '�Z October 2008 Balboa Marina Dock Replacement 7 070483-01 ATTACHMENT A PRE -DREDGE BATHYMETRIC SURVEY 51.1, is �6 66 7�j —4"6, 4,5" 6 6 6 CD 6 6 —D-- Im o,n 6 6 Al 1, Id .28 m .2 0 w z z 0 w w x > n. z (D E CL 0 ceq o-! M ON PARCEL NUM13ER RATE AREA EFT # MULTIMAIL# LAND 347.IM 650 NEWPORT CENTER DR 050431-56 07-001 90120 10330 COMPUTED COUNTY OF ORANGE TO PAY BY TAX COLLECTOR ASS81ESSCIR JOHN M. W. MOORLACH, C.P.A., CFP(P CREW CARD FMMF%W&= ANDINWRIES FORAMIRESSCHANGM TREASURER -TAX COLLECTOR TRY OUR WEBSITE www"CAMMM (714) B34 -29M 12 CMc Center Plaza, Room G58 # Santa Aria, CA 92M le 002M ATTENTION HMEOWER BMPTXM Mall to. P.O. Box 1980, Santa Ana, CA 92702-1980 RATE VALUE I%Aq9 AMOUNT= RATE- (7110&34-%21 SECURED PROPERTY TAX BILL BASIC LEW COAST CCD 2002 ED 03 MONDAY -FRIDAY ISM1.98 125M 2006-2007FIsdal Year July 1, 2006 - June 30, 2007 Al M4)224 -W11 FOR VALUE OUEMNS.- (714183&2727 1,381,198 loom gmama_um 8,00KA-M SP 1- MO DAjT.$4 RIDALY 8' .00 A.M. - 4:45 P.M. MOMAY-FRIDAY PROPERTY LQ -CATION: SITUS NA L OL17 90.19 - We DO HOT send separate bills or reminder Al WEB$ITE4 ymwA%awoyom TO PAY YOUR 0110DI162-00D1371 MULM notices for the Zncl Installment. Al PAETRO WATER D-MWIDOC #BWNLBHV ABER LEGAL DESCRIPTION: *0504 5155 2006 3# a T 8 R 10 SEC 26 P III I A#_,QF;_qAM VAI I IF411 As CIPJANUARY 11- 2008 CONTROL# SOICIS71 AUDrrOR- CONTROLLER OOMPUTATION OF PROPERTY TAX EMAIL Vmp.dAlx@a-qp-- WESSITE 1000 A.M. - 3:00 P.M. MONDAY - FRIDAY I .... . . ... . . ... ................................... IRVINE CO DESCRIPTION FULL VALUE EFT # LAND 347.IM 650 NEWPORT CENTER DR 90120 I NEWPORT BEACH CA 92860-7011 IMPROVEMENTS - BUILDING 1110214,002 COMPUTED TAX TOTAL VALUES: l'affl.198 149" FOWNER OF RECORD AS OF 12-01 A.M. ON.IANUARY 1. 2M LESS - IRVINE 00 TOTAL NET TAXABLE VALUE: 002M ATTENTION TAX TYPE RATE VALUE I%Aq9 AMOUNT= RATE- - You may now use a credit card to pay YOUF taxes. Al Ai BASIC LEW COAST CCD 2002 ED 03 11881,190 ISM1.98 125M CSes reverse side for details.) - Hall MOST BE POSTMARKED an or before THE DUE Al NEW -MMU -001308 .00M A= 1,381,198 loom DATE to avoid penalties. (see paragraph ICA) on reverse side for details.) M Al COAST CCD 2002 00 00 NEW -MESA U-00 018 02 Aom .00M I.M.198 1,381,108 OL17 90.19 - We DO HOT send separate bills or reminder Al NEIIII-MESAIU-0012IND01 ME03 1,381,198 99A7 notices for the Zncl Installment. Al PAETRO WATER D-MWIDOC .00470 1,281,198 64.92 Refinance/Loan payoffs - If you have refinanced Al COASTCCD2D02BD06 118001 1,381,198 .14 your loan, please make sure your Property Taxes will be paid. if you have paid off your loan. you SPIL A3MNT USER F;EES"— F;OR INFO CALL: are now responsible for paying 'your Property Taxes BA MOSQ,9REANTASSM7 (11GOV34167 68.24 when you provide a check as payment, funds may be B3 VECTOR CONTROL CHO (MW3.087 4.80 withdrawn from your account an -the same day we C7 MM WATER STOBY CHO (M)80?-dW4 70A receive your payment, AND you will not receive your check back from your financial institution. PLEASE NOTIFY THE ASSESSOR OF NEW MAILING ADDRESS Pay Online: go to ww.ttc.ocgov.com Would you like to know how the County spends your money? See the OC Citizens' Report at bttpl,//Www.ac.ocgov.com/finrpt.asp **Plpase WRITE PARCEL NUIMER an Your check** WFORTAril' rNFORMATION ON REWRSIE GIVE 14.M228 FIRST INSTALLMENT [ $7,251.114 SECONDINSTALLMENT 261 $7, _J14 T00UTEAAND_-* L 1 $14,502.2A DUE 111112068— -_410 DUE 21112007 ---------- 10- PAYABLE T14ENE WILL BE A $30" FEE FOR EACH PAYMENT RETURNED BY THE BANK FOR ANY REASOIL ApfAlmn IMATAI I MF_A NUMBER TAX RATE AREA EFT # rPARCEL 050451-a 07-001 90120 I ORANGE COUNTY SECURED PROPERTY TAX SILL 2006-2007 MAKE CHECKS PAYABLE TO' 2 ORANGE COUNTYTAX COLLECTOR P.O. BOX 1980 SANTA ANA CA 92702-1980 DUEFEBRUARY1,2007 P: ""After ApdI 10, 2007"** Add 10% Penalty $735.11 A1 4' $10.00 cost SECOND INSTALLMENT DUE AFTER APRIL 10, 2DD7. $7,986.25 y AddItIonal penalties are charged It taws are not paid by July Z 2W7 You can pay at wmw_ft.qAov.corn 0105045155000082006a2U4lUD7ODBD72511406300709007986250000BOUBODOUG0004 CinaV IRMVAS A RNIT06M nAVRACILrr PARCEL NUMBER TAX RATE AREA EFT# I A8147002 0604511-9 1 07-01 90120 ASSESSOR To PAY 13Y COUNTY OF ORANGE JOHN M. W. MOORLACH, C.P.A., CFP& CREDrr CARD TRY OUR TREASURER -TAX COLLECTOR WEBSITE 12 Civic Center Plaza, Room G58 0 Santa Ana, CA 9270 14.19 13.27 Mao tD! P.O. Box 19130, Santa Ana, CA 92702 -IM COMPUTATIONOF SECURED PROPERTY TAX BILL men ADWS 2008 -2007 Fiscal Year July 1, 2006 - June 30, 2007 12,67 HOMEOLVER EMAP- M WESSITE: wo 0030**40304-16 SPRE-- #BWNLBW ****"****AUTO** 5 -DIGIT 92660 PARCELiE 0=451572006 If 050-41511. 111111151111111 11111 11111111 11 ASSESi IRVINE CO DESCRIPTION GRACE RESTAURANT GO LAM 55D NEWPORT CENTER OR NEWPORT BEACH CA 92660-7011 12:01 A.M. ON JANUARY I. 2DD& 'Co FULL COMPUTED TAX FT—OTAL VALUES: I 194,09T I ZMSZ441 - You may now use a crea-ir �­ — F -Y Y- - (See reverse side for details.) I A8147002 'AX COLIJECTOR ASSESSOR AUDITOR - MR ALL PAVMEM - Mail MUST BE POSTMARKED on or before THE DUE CONTROLLER ANDRWMIES FOR ADDRESS; CKAMIGIES: 194,097 14.19 13.27 (714) 3MMg COMPUTATIONOF COAST CCD 2002 00 05 NEW-W&SAU-00111IS03 men ADWS PROPERTYTAX 12,67 HOMEOLVER EMAP- PHONSHOURS EXEPA470ft ish;Gff RM A -M. -4:45 P -M. Cn4l) 834=1 At MONDAY - FRIDAY CK70 VVEBSIrE: (H4)6W­3411 FOR VALUE OUMOMR. Al COAST CCD 2M ED 06 (7114)834-2727 (70) 04-2465 OFMEMOURS your loan, please make sure your Property Taxes . &W AM. - 4:46 RIA 8:00 AJA - 4,45 P.M A A P.M 199NC;AY MONDAY - FRIDAY MONDAY -FRIDAY' I :300 FRIDAY - &RWMff,ggMTO PAY YOUR BILL IER LEGAL DESCRIPTION: 2.62 I P BK 16 PG 10 PARC UN IRVINE CO DESCRIPTION GRACE RESTAURANT GO LAM 55D NEWPORT CENTER OR NEWPORT BEACH CA 92660-7011 12:01 A.M. ON JANUARY I. 2DD& 'Co FULL COMPUTED TAX FT—OTAL VALUES: I 194,09T I ZMSZ441 - You may now use a crea-ir �­ — F -Y Y- - (See reverse side for details.) Z aNii-C-6 iii"80 03 .0009 IK097 17.64 - Mail MUST BE POSTMARKED on or before THE DUE Al NEW-MIESA U45 Dig 00 .00731 194,097 14.19 13.27 DATE to avoid penalties. (see paragraph ICA) an reverse side for details.) Al Al COAST CCD 2002 00 05 NEW-W&SAU-00111IS03 men ADWS 194,097 1KO97 12,67 - We 00 NOT send separate bills or reminder Al NEW -MESA U-00 END 01 .00503 ish;Gff 9.77 9.12 notices for the 2nd Installment. At METRO WATER D4AMOC CK70 IK087 1941,097 Refinance/Loan payoffs : If you have refinanced Al COAST CCD 2M ED 06 OOM .02 your loan, please make sure your Property Taxes . will be paid. If you have paid off your loan. you SPL ASMNT UftR FEES*� FOR INFO CALL: (SmOr"167 2.62 are now responsible for paying your Property Taxes SA MOSQ.PIRE ART ASSPAT AS when you provide a check as Payment, funds may be BS VECTOR CONTROL CK9 CHG (WOM"167 IIIAO withdrawn from your account on the same day we C7 MIND WATER STORY receive your payment, - AND you will not receive your check back frare your financial institution. PLEASE NOTIFY THE ASSESSOR OF NEW MAILING ADDRESS 'Pay O"line: go to www.ttc.*CgOv.COM d you like to know how the County spends Your �y? see the OC Citizens' Report at ;//Www.ac.ocgov.com/finrpt.asp **Please WRITE ,ARCEL NURSEK 00 your cmecK:-- Id �RMATION ON REVERSE SIM i 1.039661 2A32A4 FIRST INSTALLMENT SECOND WSTALLMENT —_ 2] TOTAL DUE 1 $1,016.2 DUE AN[)--* $110'6'221 DUE V112007 ------ — -- 10- PAYABLE THERE WILL BEA 6=0 FEE MR EACH PAYMENT RETURNED BYtHE 13ANK FOR ANY REASON. ­�%� -1-A2 a somm-P PARCEL NUMBER TAX RATE AREA EFT# 90120 FEBRUARY 1. 20P $1,016.22 ORANGE COUNTY SECURED PROPERTY TAX BILL 2006-2007 "I'"After April 10, 2007" P Add 10% Penalty $111.62 $10.00 cost MAKE CHECKS PAYABLE TO: AS*ECOND INSTALLMENT DUE $1,127.84 AFTER APRIL 10. 2007' 2 y Additional penalties are charged ORANGE COUNTY TAX COLLECTOR if twies are not paid by July Z 2007 P�O. BOX 1980 LIU can pay at www.tte.22gov.com SANTA ANA CA 92702-1980 GlaS045157DaOG4200602041007000010162206300700001127840000000000000DO01 FIRST IrdqTJU I MFMT PAYMFUT P . ARCEL . NUM BER TAX RATE AREA 5FTW___1 CONTROL# = 05045140 074M 9012 A0147003 To PAY By TAX COLLECTOR ASSESSOR AUIXTOR- COUNTY OF ORANGE JOHN W1. W. MOORLACH, C.P.A ., CFPS CREIDITCARD L FMAL PAymeas ZMWffft= AM WMIFUFS CONTROLLER TREASURER -TAX COLLECTOR Is TRY OUR VVIEBSITE (7`14) &34-21M COMPUTATION OF PROPERIYTAX 12 Civic Center Plaza, Room G58 4 Santa Aria, CA 92701 tw. P.O. Box 1980, Santa Ana, CA 9Z702-1980 HQME~ER FjME HOUIq6 EXEMPTIONt 9:00A_M.-4A6PJA (714) 834-A821 EMAR: P"WWWO-2--m Mail SECURED PROPERTY TAX BILL MONDAY - FRIDAY QUESTION& vvmsrm XWLMM9Ry­_A 2606-2007 Fiscal Yew JUIO, 2006 - June 30, 2007 rR4)834-3411 FOR VALUE (714)834-2727 (7141 S34-240 OFF= HOURS &00 A.K - 4:45 PAL .�A INDMW RRIDAKY I MONDAY -FRIDAY I& I MOO A FA -M ONdAl� JAROHMAY rp RTY LOCAMOK 1261 E COAST HY NEWPORT BEACH WESSITE. To PAY YOUR BILL 0030447-00"7SPRE— PARCELNUMBEIR I LEGAL DESCRIPTION: *BWNLBl-jV *—"***"AUTO"* 5 -DIGIT 92660 $0604 5160 200660 5045140 [!!cc;= TRACT 6381 LOT 2 POR OF L ASSESSED VALUES AS OF JANUARY 1, 2000 I 111111111111111111111111 1111111111111111111 111111 DESCRIPTION IRVINE CO FULLVALUE LAND GRACE RESTAURANT CO 2,511,007 550 NEWPORT CENTER DR IMPROVEMENTS- BUILOM W.068 COMPUTED NEWPORT BEACH CA 92SM-7011 PERSONAL PROPERTY -OTHER 2IA76 TAX TOTALVALUES: SAGZ2151 40AM90 OWNER OF RECORD ASOF 12-011 A.M. ON JANUARY 1, 200M LEM TOTAL NIITTAXABLE VALUE; 3,116Z25111 0A00020 IRVINECO %GRACE RESTAURANT CO ATTENTION TAX TYPE "a RATE a' VALUE BASE AMOUNT= RA� - You may now use a credit card to Oay your taxes - Al BASIC CEWW�y IAMO AM ZISZ251 3,16=511 31,622M 28TA4 (See reverse side for details.) - Mail 14UST BE POSTMARKED an or before THE DUE Al All COAST CCD 2002 SO 03 NEW411ESA U -W DISI 00 Mni 3,162,251 231.16 DATE to avoid penalties. Csee paragraph I(A) on reverse side for details.)' Al Al COAST CCD2002 OD 08 NEIN-MESA U-00 013 03 AOM .00M 3,16Z251 -%16%251 217.119 2DUC - we Do NOT send separate bills or reminder Al NEW-NIESAU-013ND011 M03 3,162,251 $114=51 159.08 148.63 notices for the 2nd installment. Refinince/Loan payoffs : If you have refinanced Al All METROWAM&MWDW COAST CCD 2002 ED 06 A0470 AMM %imm All your loan, pl ease make sure your Property Taxer, will be paid. If you have paid off your loan, you SPL ASUNT USER FEES� FOR INFO CALL' are now responsible for paying your Property Taxes BA MOSORRE ANT ASSN1T (NDWI"167 13.12 420 When you provide a check as payment, funds may he 83 VF=ORCONTROLCHG (801IM"167 11.60 withdrawn from your account an the same day. we C7 MVWWATERSTI)SYCHIS IBGS)W740114 7,"7.90 receive your payment, AND you will not VeMive U4 OCSI)SEWERIUSERFEE your check back from your financial institution. PLEASE NOTIFY THE ASSESSOR OF NEW MAILING ADDRESS Pay Online: go to www.ttc.ocg*v.com Would you I Ike to know how the County spends your, money? See the OC Citizens' Report at http://Www.ac.ocgov.com/fiarpt.asp *15P1aa,_c,R WRITE PARCEL NUMBER on vour check** FIRST INSTALLMENT $2 T TOT 0,000.46] SECOND INSTALLMEN $20,000.45 DUE AND DUE i11112006-.___.. DUE 21112007 ---- - --- PAYABLE THERE VWILL BE A $30MO FEE FOR EACH PAYME14T RETURNED 13YTHE 13ANK FOR ANY REASON. F —PARCEL NUMBER TAX RATE AREA EFT# 07-001 90120 ORANGE COUNTY SECURED PROPERTY TAX BILL 2006-2007 P MAKE CHECKS PAYABLE TO.' A 2 y ORANGE COUNTY TAX COLLECTOR P.O. BOX 1980 SANTA ANA CA 92702-1980 FEBRUARY 1, 2007 Boo""' ';$20,000.46 �Atter Aprit 10, 2 10% Part* $2,010.04 0.00 cost DUE $22.010.49 Additional penalties are olvrqed if taxes are not paid by July 2, 2007 can pay at www_ttq.gWov.cgm 01050451600000820060204100701102000045063007000220104900000000000000005 minew mla�AF I Kfiaarr affivamak" NEWPORT BEACH FIRE AND MARINE DEPARTMENT December 16,1999 Mr. Derrick D. Niblo, V. P. Facilities Newport Nautical Museum 151 East Coast Highway Newport Beach, CA 92660 Re: Utilization of the Beach Facilities to the West Of the Nautical Museum Vessel and Modification of the Existing Landing Dock Adjacent to the Channel and the Vessel Dear Mr. Niblo: Please accept my apology for not responding to your questions put to me some time ago. My recollection was that we discussed this by telephone and I did not realize that you needed something in writing. Use of the beach adjacent to and north of the Nautical Museum: Based . on your proposal, as long as you have approval of the property owners and the City's Planning Department, I can see no objection from the City's Marine Envirom-nental Divisi ' on to the use you propose. In fact, based on the way it has been described, it would not be necessary for the Marine Environmental Division to issue any permit at this time, but as your plans develop, please keep us apprised should your plans change. Regarding the minor revision to the dock: Based on your description of the revision, I believe it could be done with a maintenance permit. However, we would need to see drawings indicating exactly what is to be done. My understanding is that it is a minor extension of the dock to incorporate the piling closest to Linda Isle. To facilitate the next step please submit a drawing to our department and we will make a determination on what permits are necessary. Thank you for your patience and if you need to discuss this further please don�t hesitate to call at 949-644-3041. Sincerely, Tony Melu7 Deputy Chief Marine Environmental Division z STATF OF CALIFORNIA - THE RESOURCES AGENCY GRAY DAVIS, Govemor CALIFORNIA COASTAL COMMISSION South Coast Area Office /0' 'W' 200 Oceangate, Suite 1000 1"5 :� Lona Beach CA 90802-4302 October 2, 2002 (562) 590-5071 Mr. Tony Melum City of Newport Beach P.O. Box 1768 Newport Beach, CA 92658-8915 Subject: Condition Compliance — Coastal Development Permit 5-99-282, as amended & Conformance with Consistency Certification CC -078-99 & CC -077-01 Dear Mr. Melum: Commission staff have received information submitted as evidence of compliance with Coastal Development Permit 5-99-282, as amended, and/or as evidence of conformance with Consistency Certifications CC -078-99 or CC -077-01 for the following sites in the City of Newport Beach: V City Harbor Permit # Site Address Beach Disposal Qty . (cu.yds) Ocean Disposal Qtyt (cu.yds) Cumulative Total� for 2002 oast Hiahwav 0 1000 132-201-B 201 E. Coast Hiahway 0 1000 132-201-C-1 201 E. Coast Hiahway 0 1000 132-201 -C-2 201 E. Coast Hiahway 0 1000 /132-201 -D 201 E. Coast Hiahwav 0 1000 132-201 -E 201 E. Coast Hiahwav 0 1000 132-201 -F 201 E. Coast Hiahwav 0 1000 132-201 -G 201 E. Coast Hiahwav 0 1000 '�132-201-1-1 201 E. Coast Hiahway 0 1000 Sub -total 0 9000 1 I Year-to-date total 1 5090 1 11400 1 16490 Commission staff have reviewed the information submitted and determined that the above referenced dredging events conform with Consistency Certifications CC -078-99 and/or CC -077-01 and that no further federal consistency review is necessary from the Commission for the dredging and off -shore disposal components of the projects. Since there is no beach disposal component to the proposed projects, CDP 5-99-282, as amended, does not apply. Please be advised that only the projects described in the materials submitted for the sites listed above have been found to conform with Consistency Certification CC -078-99 and or CC -077-01. Any change in the projects may cause them to lose their status as consistent with CC -078-99 and/or CC -077-01. This certification is based on information provided by the recipient of this letter. If, at a later date, this information is found to be incorrect or incomplete, this letter will become invalid, and any development occurring at that time must cease until a new determination regarding conformance with CC -078-99 and/or CC -077-01 is obtained. If you have��ny q tions, pjease contact me at (562) 590-5071 or Mr. James Raives at (415) 904-5200. Since I 77 Karl Schwing Coastal Program Analyst CC: Mr. James Raives, California Coastal Commission Ms. Cori Farrar, U.S. Army Corps of Engineers Not to Exceed 500 cubic yards per dredging and beach disposal event Not to Exceed 1,000 cubic yards per dredging and off -shore disposal event Not to Exceed 20,000 cubic yards per year R - YTO L L ATTENTION OF Office of the Chief Regulatory Branch DEPARTMENT OF THE ARMY LOS ANGELES DISTRICT. CORPS OF ENGINEERS P.O. BOX 2711 LOS ANGELES. CALIFORNIA 90053-2325 July 29, 1994 Mr. Tony Melum. Tidelands Administrator City of Newport Beach P.O. Box 1768 Newport Beach, California 92659-1768 SUBJECT: NOTICE TO PROCEED (No. 94 -896 -BH) Dear Mr. Melum: Reference is made to your letter dated July 21, 1994 in which you submitted on behalf of Restaurant Enterprises at 251 East Pacific Coast Highway, a notification for the maintenance dredging of Ill cubic yards of sand and silt material by hydraulic suction and disposal of the.dredged material at LA -3 (latitude 33 31'42" North, longitude 117 54'48" West). Based on the furnished information, we have determined that the proposed maintenance dredging activity complies with the terms and conditions of Permit No. 89 -211 -GS provided that the Restaurant Enterprises' contractor does not exceed the maximum dredging design depth of -5 feet MLLW with a maximum allowable overdepth of -1 foot MLLW. If you have any questions, please contact Bruce Henderson at (213) 894-0351. Sincerely, 0 - John A. Gill Chief, Regulatory Branch PERMIT NO. / �,,7 ?" � DREDGING APPLICATION Project Location: 251 East Coast Highway Cubic Yards to be Drddged: 111 cubic yards method of Dredging: Hydraulic Suction Nature of Dredged Material: Sand/Silt Disposition of Dredged Material: Haul to sea and dump @ 1a titude 33031'42"N Longitude 117-054148" W. method of Material Disposition: Barge to sea. Turbidity Control Method: . Material to be c-ontained in Dump Barge at Dredge Site Effect of dredging on contiguous bulkheading and beaches NONE I 4isa E.. Xiller hereby state that I have read the U. S. Army (print name) Corps of Engineers permit forma.intenance dredging in Newport Harbor, the City of Newport,Beach and Orange County Harbors,Beaches and Parks District (if applicabl6) permit for maintenance dredging and that I accept all the provi,sions.therein. Additionally.I guarantee that the proposed dredging will not occur because of any altering of existing use of the affected zone. Restaurant Enterprises— (Applicant -type name) June 10, 1994 (Datei SHELLMAKER INC. (Contractor -type name) Signed:,,��,, ke,_ Uo_nt&actor I s - Representative /9'v - ICIrr aw N",pa"er 6.0.4c.Av A JL zw, now Air, It re CP I f�,, ". ". - I ov VICINITY XITCW mew -Orr 16' Sea, S'o&,n d.,Aws ape owwassed on Abolo 009me mimoole &&/*AW AVWdW "011IdIF d.SW 116*104M *WW&jjW&4W we I - 'emsojeoe AP%SwA A%P&dw /,or*& are w a #a ow.., &*OA-av oe**b W,~#' Aar. C. C-3 74 C- D C %Njj Ap �Ur,,d 77,pr)�-es p CA -d" Apaggras 6KI., OA rld r CITY 0 F NLEVvFl,-"' �?"'f E; HARBOR PERMIT PERMISSION IS HERE13Y G70-4TED TO CONSTRUCT AND MAINTAIN THE FACIL17Y 5,40404 ON THE REVERSE HEREOF. AT THE SITE INDICATED, 5uAj.ECT TO T14E PROVISIONS OF THE 14ARBOR PERMIT POU610--S OF NEWPORT BEACH AND ANY SPECIAL CONDITIONS LISTED HEREON. THIS: PERMIT IS NOt TRANSFERABLE WITHOUT THE WRITTEN CONSENT OF THE CITY HARBOR COORDINATOR OR CITY COUNCIL, THE RIGWS -GPfi* UNDER THIS PERMIT ARE PERMISSIVE AND THIS PEWIY MAY BE R KED,.BY THE CITY COUNCIL Irt =WT, 00 44'MUNICIPALZODE. CITY HAKBOR,COORDINATOR PERMIT NO. DATE Ce IMUE D SUM Mc r. ro SEJJJG '�AULEDTG SEA RONALD J. LEJMAN, R.G.E. DAVID H. LEE, R.G.E. MICHAEL B. MOSCROR LEJMANAMD LEE INCORPORATED GEOTECHNICAL ENGINEERS May 23, 1994 Ms. Shannon West SHELLMAKER, INC. 875'B West Fifteenth Street Newport Beach, CA 92663 COLIN E. CUNNINGHAM THOMAS A. NEWSOM, C.E.G. DAVID A. HASSER ENGINEERING GEOLOGISTS Our Project 94-06-01 SUBJECT: Grain Size Test Results for Your Soil Sample Obtained f tom the Reubens Restaurant at 251 Pacific Coast Highway, Newport Beach, CA 92660. Dear Ms. West: Presented herewith are the results of a grain size analysis performed on the soil sample provided to us by your firm. The test procedure was in accordance with ASTM D422-63 (1990) and U.S. Army Corp of Engineers Report Number CETA 79-7 criteria. Please do not hesitate to call if you have any questions after you have reviewed the attached data. Respectfully submitted, LEJMAN AND LEE, INCORPORATED Michael B. Moscrop Laboratory Manager DHL/f 1 HK Revie�r`ed by: -.2 -GE 510 David-IT-.- gXPIRES, Geotechnica njineer PEC OF one copy submitted Attachments: Plate 1 Grain Size Summary Plate 2 Cumulative Grain Size Distribution 940601 gr.Itr/f I 23011 Moulton Rarkway e Suite 1-4 9 Laguna Hills e CA 921353 e (714) 5BI -5730 e Fax (714) 7BB-61 4B GRAIN SIZE SUMMARY --------------------------------------------------------------------- % Material Cumulative opening Size Sieve Retained Percent (mm) --------------------------------------------------------------------- Phi Mesh by Weight Retained 4.75 -2.25 4 0.4 0.4 Gravel 2.83 -1.5 7 0.1 0.5 2.00 ---------------------- -1.0 10 0.2 0.7 1.41 7 ---------------------------------------------- -0.5 14 0.2 0.9 1.00 0.0 18 0.7 1.6 0.71 0.5 25 1.6 3.2 0.50 1.0 35 12.9 16.1 Sand 0.35 1.5 45 12.0 28.1 0.25 2.0 60 31.6 59.7 0.177 2.5 80 28.8 88.5 0.125 3.0 120 9.1 97.6 0.088 3.5 170 2.3 99.9 0.074 3.75 200 0.2 100 --------------------------------------------------------------------- Silt-clay <0.074 3.75 <200 0 100 --------------------------------------------------------------------- 0.7% Gravel 99.3% Sand 0% Silt -Clay Sample provided to Lejman and Lee, Inc. in a bulk bag by Shellmaker, Inc. Sample consists of an olive brown fine sand with some seashell fragments and was obtained from Reubens Restaurant at 2151 Pacific Coast Highway, Newport Beach, California at a depth of -4 to -6 feet MLLW. LEJIVIAN ANI:D LEE I N C 0 R P 0 R A T E 0 GEOTEC FANICAL ENGINEERS Fo r: Shellmaker, Inc. GRAIN SIZE SUMMARY le P L A T 1 r __`� P L A T E CUMULATIVE GRAIN SIZE DISTRIBUTION 2 PHI UNITS k�,Project 94-06-01________May, 1994) LL JMAN AND LEE I N C 0 R P 0 R A T E 0 M GEOTECHNICAL ENGINEERS For: Shellmaker Inc. 70 0 00 LLI 50 0 cc 40 W > 30 2 20 10 5 2 I 0.5 0.2 0.1 0.05 0.01 —4 PARTICLE DIAMETER IN PHI UNITS 16 0 6 0.25 OJ 25 0183 0.03113 PARTICLE DIAMETER IN MILLIMETERS Median = 1.8 0 (0.3mm) 0.7 % Gravel Mean = 1.8 0 (0.3mm) 99.3 % Sand 0 % Silt—Clay Sample location: 251 Pacific Coast Highway, Newport Beach, CA. At —4 to —6' MLLW. r __`� P L A T E CUMULATIVE GRAIN SIZE DISTRIBUTION 2 PHI UNITS k�,Project 94-06-01________May, 1994) LL JMAN AND LEE I N C 0 R P 0 R A T E 0 M GEOTECHNICAL ENGINEERS For: Shellmaker Inc. LL JMAN AND LEE I N C 0 R P 0 R A T E 0 M GEOTECHNICAL ENGINEERS For: Shellmaker Inc. CITY OF NEWPORT BEACH PLANNING DEPARTMENT PLAN REVIEW REQUEST • ADVANCE PLANNING DIVISION • PUBLIC WORKS DEPARTMENT • TRAFFIC ENGINEER • FIRE DEPARTMENT • BUILDING DEPARTMENT —PARKS & RECREATION —POLICE DEPARTMENT X MARINE SAFETY —GRADING APPLICATION OF FOR: Date: November 17, 1993 X PLANS ATTACHED (PLEASE RETURN) —PLANS ON FILE IN PLANNING DEPT. Williamson & Schmid Resubdivision No. 1003 DESCRIPTION: Request to resubdivide seven parcels of land into four parcels, for restaurant, commercial marina and private marina purposes on property located in the RMC -H District and unzoned submerged areas of Newport Bay. LOCATION: 201-299 East Coast Highway REPORT REQUESTED BY: November 24, 1993 COMMISSION REVIEW: December 9, 1993 COMMENTS: Signature: Date: WLLIAMSON & SCHMID CONSULTING CIVIL ENGINEERS AND LAND SURVEYORS MEMORANDUM TO: DON WEBB, DICK HOFFSTADT, TONY MELLUM, CITY OF NEWPORT BEACH; BOB ZEIBAK, THE IRVINE COMPANY FROM: JIM GILLE SUBJECT: PARCEL C��(GURATION FOR BALBOA MARINA PARCEL MAP NO. 85286-03 OUR JOB NO: 85286.03 DATE: OCTOBER 8,1993 On October 7, 1993 the Balboa Marina Parcel Map was discussed during a meeting at the City of Newport Beach. The attached exhibit depicts the 4 parcels configured as agreed upon by the City of Newport Beach. Accordingly, Williamson & Schmid will begin preparation of the tentative map based upon this layout. In addition, we will identify easement areas for access and private pier purposes adjacent to the Linda Isle lots as well as navigation access over the channel area that will coincide with existing legal documents. These easement areas will be designated separately on the map for easy reference on any grant deed for the adjoining Linda Isle residential lots. zk(me)MEMO cc: Nfike Padian, TIC Robert Sundstrom, W&S CorporateOffice - 15101 Red Hill Avenue - Tustin, California 92680 - 714/259-7900 - FAX714/259-0210 Inland Empire Office - 1101 S. Milliken Avenue, Suite G - Ontario, California 91761 - 909/988-7880 - FAX 909/988-5299 San Diego County Office - 2011 Palomar Airport Road, Suite 109 - Carlsbad, California 92009 - 619/438-4332 Coachella Valley Office - 77-750 Springfield Lane, Suite A - Palm Desert, California 92260 - 619/360-3744 - FAX 619/360-3745 CITY OF NEWPORT'BEACH Marine Department July 12, 1993 TO: MAYOR AND CITY COUNCIL FROM: Marine Department SUBJECT: HARBOR PERMIT APPLICATION 132-201 BY THE IRVINE COMPANY TO REVISE THE PERMIT FOR THE COMMERCIAL MARINA BAYWARD OF 337 EAST COAST HIGHWAY Recommendation: If desired, approve the revision subject to the following conditions: 1. That the applicant prepare a hold harmless agreement subject to the approval of the City Attorney's office and signed by the owner of the parcel at Reuben's Restaurant indemnifying the City of Newport Beach against any claim for damages and defend the City in any lawsuit filed by the property owner as a result of the revision to this Harbor Permit. 2. That marina tenants be able to park and have access across the "Charlie Brown Parcel" and that should this access or parking become unavailable, the Harbor Permittee will f ind additional parking and access sources subject to the approval of the Marine Department or reduce the size of the marina operation based upon available parking. Background: This application is before the City Council as required by Section 5.C.3. of the Harbor Permit Policies, which states: 5.C.3. "Prior approval of the City Council will be required before issuing a permit for shore connected structures when the upland abutting property is zoned commercial." Currently the Irvine Company, through a subsidiary, the California Recreation Company, operates a commercial marina bayward of several parcels adjacent to Coast Highway and Bayside Drive. on March 8 and May 10, 1993, the City Council approved revisions to the Commercial Harbor Permit which facilitated the sale of Parcels 3, 4 and 5 as delineated on the attached exhibit and allowed the Irvine Company to maintain the marina in front of those parcels. The Irvine Company now wishes to sell a portion of Parcel 1, in front of the marina and to continue to maintain that portion of the marina bayward of Parcel 1. Historically the Harbor Permit zone has been delineated by the bayward extension on the side property lines. When a Harbor Permittee divests himself of the abutting upland property he is required to transfer the Harbor Permit to the new owner. In this particular case the sale of Parcels 3, 4 and 5 meant that the Harbor Permittee did not retain all ownership of the abutting upland property; however, the Marine Department recommended an approval of the sale of these two parcels for the following reasons: 1. Most of the upland amenities including parking, trash disposal, restrooms and access to the docks are on property retained by the Harbor Permittee, 2. The Harbor Permittee is retaining ownership of a significant portion of the uplands that abut this Harbor Permit, 3. The waterway in this particular locat ion, over which the marina is situated, is not State Tidelands, but is a private waterway. The sale of a portion of Parcel 1, identified on the attached exhibit, will change very little the reasons for allowing that sale. The majority of the upland amenities, including parking, trash disposal, restrooms and access to the docks are still on property retained by the Harbor Permittee. The Harbor Permittee is retaining a significant portion of the upland property that abuts this Harbor Permit, and the waterway is still a private waterway in this location and not State Tidelands. Tony Melum Deputy Director (SRJulyl2) California Recreation Co. 1137 Bayside Drive Corona del Mar, California 92625 June 18, 1993 City of Newport Beach Marine Department Tony Melum 3300 Newport Blvd. Newport Beach, CA 92659-1768 Dear Tony: (714) 644-9730 �//O Enclosed is check #486678 for $280.00. This is for that parcel of land by Charlie Brown's Restaurant. Could you please get this on the consent calendar. Thank you. Edward V. wer President' Enclosure (1) FAX (714) 720-9436 -JUN -07-1j'993 15:42 FROM 40g SOUTR HOPE STREET AHr.Q.I-.1; ' I:AtIFQRNIA 90071-ZEI99 TELEPHONE (243) 845%_8000 (21.21 146CP-e4*7 19%q AVENUr <W IMr VAR. LOS ANC;CLPS, CAUVORWA, 90067-8035 TG(.EPHQmr IMM tM3,6700 rACSIMILE (XV) E40-6779 StIE IS" STPFETI N.W. WASMINGTON, ID, G., TELEPHONE M021 383-534DO FAC.SIMILG 1792) Z1S3w_t4I4 C;ITI(;QRP rVNTrR ISO EAST S3'D STREET NEW YOPK, NrW YQPK 10022-40311 TF.6GPMQNS (212) 3243-20QQ FACSIMILe WRITER'S DIRECT DIAL NUMBER (714) 669-6906 VIA TELECOPIER O'MELVENY & MYERS TO 6#413102236#96733056 P.02 O'ME:LVENY & MYERS 5UITIE 1700 610 NKWPORT CIENTCR DRIVE NEWPORT BEACH. CALIFORNIA 91P-GGO-6499 TE615PHONE �N4) 1-4;C)4I6QQ TELrX 4722088 - FACSIMILIC, (714) 6439-6994 ,Tune 7th 1 9 9 3 Mr. Tony Melum City of New -port Beach 330 Newport Boulevard Newport Beach, California 92663 Re: Harbor �?��rmit AP10jjg_qj;ion U2-2,01 ItMeAFH' APr.RQ CENYIEP WEST 275 OATTEAV t7Pr.GT SAN I`AANCIFMQ� GAWFOAHtA 04IM3305 T66rPHONC ;41!;1 V84-6700 f`A&_%;MILE 141S) 984-e!PQI 19 FINSBURY $OUARE LONOON EC2A ILA TMAPHON? 40!r0 ;356-8451 FACSIMI" 1070 638-8201% AKASAKA "IN TOWFI*, rA',T IS— FLOOR 2-17-2-2 AKASAKA, MINATO-KU TOKYO 107 TrI.GPWONE tOW Z567-2800 FACSIMILIC 1924) 3587-07213 AllrNIVS L.Ovisre 106 1050 sput�610.s TSI.EPHONE 102) 847.0115-50 FACMMI�E coa� e46�1-2q OUR FI1.r_ NUM911CR 413,102-236 1155966 Dear Tony. - As we discussed this morning, accompanying this letter is a proposed Addendum to be added the Staff Report dated April 29, 1993. If you have- any questions or comm-ent-g., please do not he��itat-e to 0all me z-_Ur1;s_ct'1y. ZIP Paul E,, Xl-_'­�Iev & �4� CC. 3-ffrey "T. Wal -lace, '42 FROM 0'MELVENY & M"ERS TO 6#413102236#9673305:76 P.03 ADDENDUX TO STMIF BATZZ APRIL S9, 1993 C CONCRANTMO HARBOR ?STRAM."'M APPLICATION 132-202. In approving Harbor Permit Application and in issuing 4 ' -he Permit, it is acknowledged t-Irlat the fee JMteres-C in Parcel 3 is contemplated bebing sold and that, subsequent to such sale, the fGe owner of Par�-_sl 3 will be different from the Harbor Permittee. Further, that some restroom, parking, trash and access aoilities are used by the Harbor Permittee Ithat are locatled upon Parcel 3 and which will remain located uDon such Parcel subsequent tt'o the sale contemplated above. However, the sale of the f ee interest in Parcel 3 shall not affect the Harbor Pernit and such Pern,jit shall remain in full force and effect notwithstanding such sal , e, provided that the recommendations set forth in the Staf f Repozft aM followed. Date : _? i993 Deputy Director Ma.rine 'UepariC.-f�ent Clity Of-' Newport Beach NB , )6 � C,7�92�. TF27AL P. 03 O'MELI J&41' ':l -t413102236#96733056 TeAc4 47Z20M Tax TELECOP"'i" P. oll HIS MES'SAGE tS iNTENDED ONLY FOR THE OF THE INDIVIDUAL OR, ENTj7.'Y 70 WKC�H IT IS ADDRESsEr' AND VW� CONTAIN iNFORMATION THAT iS PRNI�LEGED, ('_'0Nr';DENTiAL AND EXEMPT FROM DISCLOSURE R TP 1;� r_. E UNDER APPLICCABLE LAW. IP THE READER OF THiS MESSAGE IS NOT THE INTENDED RECIPIENT, Or EMPLOYE -E OR AGENT RESPONS�SLE FOR. DELIVERING THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION. DIS7RIBUTION OR COPYING OF THIS COMMUNICATION !s HEREBY PROH11811'ED. IF YOU HAVE RECEIVED THIS 0QfqjklUNICAT!0N iN ERROR, PLEASE N071IFY i_`13 IMINIEDIATELY SYTELEPHONE AND RETURN THE 09�&[,.,IAL MEqSAGE.ro US AT THE ABOVE ADDRESS ',_11:k THE ';ERviC-�L l'HAN'K YOU. LJ, 7C) 1 -DOPIER NUMBER "M T" T E EF "D N'E' NU N'� B E JUNIBEr"I OF PACES 'TO FOLLOW Rl C,,'PIENT: iXj'v'E)Fi PAGE L "I "I LAI NAME i RESPONSMLE A -FL -Y NAIN'=pf Disle-rent b m Se V9 ORIGINAL LOCA7 10N �3P&C-iA-L INSTPUCIPON%3� 'f' M! DO NOT REC'�� i LL PAC, ES OF TfiK.' �? Zz' _,N p"I A, �­-1 A" 15:59 FROM O'MELUENY MYERS TO #413102236#96733056# P.01 FAYERS Boos 001 Fawport East., Abonn .; S&Sil Wephlyne: '714, 780-963c- Imen 4722068 Fanswule: '714) TK$ MESSAGE 13 XTENDED ON& FOR THE USE OF WE IND,V!WAL OR E!"417TY TO W'HICH IT ADDREWD, AND -M.-),Y COiNT 4,;N VFQ'Rl'vlAT if-�N THAT 16 PR.iVILEGED. CO�,Q'FZENTIAI- AND EXEMPT PROlol DiSCLOSURE U�,0ER APPLICABLE LAW �F THE READER OF THIS NMESSAGE iS %10T THE INTENDED RFCP�ENT OR THE� 0v'P;.,0'(EE OR AGEN"i' RESPC,�,�-S!5LE FOR, DELIVERIN'Q THE ,AES3AGF- TO THE INTENDEZ� REC:PIENT� '�Ou 4p,:� H,eREF--',Y NC;TiRED -FHA7i A. -,,,Y DISSEMIINATIONI, 'DISTRIBUITI&I OR COPONG OF THIS 00I,/;MJNlCA-, ION �S STRWY PPOWTED, -Y,;U HAVE RECEIVE'-) THIS IN' ERRORI PLEASE N07IFY US I.'A 'M, E D 1ATELY SY TE'i-EPHC)NE Al`-J�) rRE7URN THE ONGiNAL MESSAGE TO US AT THE ABOVE ADDRESS ViA TH'F E T. '"N -" - Ou oms" Sme or dW No w un, ..... ... lj',,lAI'---� E R TELEP�—'ONE ,7) OFF PAGES Te,--) F'OLLC)'Alf TH",S Cr.;V' F", RA-G�E 7 ..... ....... PILE 0 R�l NA-ME— CrRie—�WlAi— TO IF YOU VQ NO! RECOVE ALL PAGGS Or- KnAW CALL JL ,,!N-03-1993 15:59 FROM O'MELVENY & MYERS 400 sou -,m m*e� sTmarr LOS ANI;.I;LF�'S, CALIFORNIA 00071-2800 TELrPHONC. as*.4L%0" 4000 AV�NVU OF THE STARS LOS ANC-CLES, CAUPOIRWA 0*QE;7-,30.5t TELEPHONE M07 553-8700 rACr,IMILE 431V t40 -t779 SSE, 131A STPqCT, 14.W. wASHiNaTON, 0, C. 20C�C�IIQEI TiCt.r.pWoNr (202) aei3-szoo ,ACSJMILE.L702) 383-5414 ITIdPRP CENTI!R IS -21 CAST WIRD STPLCT NZW Y(;IRK. NEW YORK IQQZP-4eII TISLEPHONIt (21;3) JZS-2000 FACMM04E (2121 326.2!Qist WrAITMW!; PIRECT OIAL NUIVI�%&;t (714) 669-6906 YTA MELEgOPIZ E TO #413102236#96?33056# (:)'ME:LVF-NY & MYE:RS SOITE 1700 (310 NEWPORT Cr6NTCR DRIVE NEWPORT BEACH, CALWORNIA 926GO-6429 trV9PI4QNS i7W A,159 -960O, TELEX 4tIZZ088 - rACSrMILE (71411 *459-415994 June 3rd 1 9 9 3 Mr. Tony Molum CitY Of Newport Beach 330 NeWPOrt BouleVard Newport Beach, California 92663 Re: 5410 Of 8.e�ub� E - Le I_Ear6cej Dear Mr. Tony: P. 02 SMSAPC;AQER0 CICISITEFt WCS'r .AN FRANC:ISCO. CALIFORNIA 04m�,4;305 TS6E PHONE WS) 084-P3700 IpActl"16e: (413) qn4-8701 10 FINS;7, GQU1%RE LONbQN EWA ILA Tz4rw�ONE X513-60at FACSIMIL-C AKAS4KA TW?N '�OWUR. EAST 18- F-LOQR 2-17122 AKASAKA, MIN4,70-Av TOKYO 107 TELEPHONE �03) 3S*7�ejaoo aqS7-07,jej AVENUIE 1,01JISE j,"n 105Q SRU&9ELS TC6r,P1140NE: IQZ) e4j-.Qq_3,5 IFACLIM46E QVR PILE NUME3ER 413,102-236 151-515% This letter is to 0onfirm our conversation of this naorning vshe't-ein we requested that you conmence the action to obtain appr ' �val for the sale of the Reuben E. Lee parce- L.4eparate from the Balboa Marina. As we discussed, 1 will come by your Office Monday, June 7, 1993 at 10:00 a.m. so that we may review a map showing which parcel is to be sold. &is as - before,- Eddie �Power requested that you senT-him a bill- for-"ihe $270 application fee. call. If you have any questions, please don't hasitate to Sinceraiv, <2 ;Ly /aul E. Mosley foF, 01MELVENY & mymRs PEM *. myh .A. Cc*0 JeEfreY J. Wallacet Esq. Lowell C. Martindale, Jr. , Esq. TOTAL P.02 400 SOUTH HOPE STREET LOS ANGELES, CAU FORNIA 90071-2899 TELEPHONE (213) 669-6000 FACSIMILE (213) 669-6407 1999 AVENUE OF THE STARS LOS ANGELES, CALIFORNIA 90067-6035 TELEPHONE (310) 553-6700 FACSIMILE (310) 246-6779 555 13T. STREET, N.W. WASHINGTON, D. C. 20004-1109 TELEPHONE (202) 383-5300 FACSIMILE (202) 383-5414 CITICORP CENTER 153 EAST 53R- STREET NEW YORK, NEW YORK 10022-4611 TELEPHONE (212) 326-2000 FACSIMILE (212) 326-2061 WRITER'S DIRECT DIAL NUMBER (714) 669-6913 0'MELVENY & MYERS SUITE 1700 610 NEWPORT CENTER DRIVE NEWPORT BEACH, CALIFORNIA 92660-6429 TELEPHONE (714) 760-9600 TELEX 4722088 - FACSIMILE (714) 669-6994 May 17th 1 9 9 3 Mr. Tony Melum City of Newport Beach 330 Newport Boulevard Newport Beach, California 92663 Re: Sale of 333 and 341 Bayside Drive Dear Mr. Melum: EMBARCADERO CENTER WEST 275 BATTERY STREET SAN FRANCISCO, CALIFORNIA 94111-3305 TELEPHONE (415) 984-8700 FACSIMILE (415) 984-8701 10 FINSBURY SQUARE LONDON EC2A ILA TELEPHONE (071) 2SG-845i FACSIMILE (071) 638-8205 AKASAKA TWIN TOWER, EAST 18TH FLOOR 2-17-22 AKASAKA, MINATO-KU TOKYO 107 TELEPHONE (03) 3587-2800 FACSIMILE (03) 3587-9738 AVENUE LOUISE 106 1050 BRUSSELS TELEPHONE (02) 647-06-50 FACSIMILE (021 646-47-29 OUR FILE NUMBER 413,102-208 As we previously discussed, enclosed are the originally executed indemnity letter agreements in connection with the sale of the above-mentioned properties. If I can be of any further assistance, please do not hesitate to contact me. Sincerely, Lorie Soares Griffen for 01MELVENY & MYERS LSG: aj g Enclosures CITY OF NEWPORT BEACH Marine Department April 29, 1993 TO: MAYOR AND CITY COUNCIL ly FROM: Marine Department SUBJECT: HARBOR PERMIT APPLICATION 132-201 BY THE IRVINE COMPANY TO REVISE THE PERMIT FOR THE COMMERCIAL MARINA BAYWARD OF 337 EAST COAST HIGHWAY Recommendation: If desired, approve the revision subject to the following conditions: 1. That the applicant prepare a hold harmless agreement subject to the approval of the City Attorney's office and signed by the owner of the parcel at the Reuben's Restaurant indemnifying the City of Newport Beach against any claim for damages and defend the City in any lawsuit filed by the property owner as a result of the revision to this Harbor Permit. 2. That mens and womens restrooms remain available in the Reuben's building for the use of marina tenants, and that should they cease to be available, alternate facilities will be provided by the Harbor Permittee. 3. That marina tenants be able to park and have access to the marina docks from the Reuben's parcel, and that should this access or parking become unavailable, the Harbor Permittee will find additional sources subject to the approval of the Marine Department or reduce the size of the marina operation. B�ckqround: This application is before the City Council as required by Section 5.c.3 of the Harbor Permit Policies, which states: 5.c.3 "Prior approval of the City Council will be required before issuing a permit for shore -connected structures when the upland abutting property is zoned commercial." Currently the Irvine Company, through a subsidiary, the California Recreation Company, operates a commercial marina bayward of several parcels adjacent to Coast Highway and Bayside Drive. on March 8, 1993, the City Council approved a revision to the commercial Harbor Permit, which. facilitated the sale of Parcel 4 and 5 as delineated on the attached exhibit and allowed the Irvine Company to maintain the marina in front of those parcels. Parcel 3 in front of the The -IrVinO 'company now wisha�s-to sell marina and continue to maintain that portion of the marina bayward of Parcel 3. Hist6tiballY,-the- Harbor' Perm it- zone�has been delineated by the� bayward extension on the side property lines. When a Harbor Permittee divests himself of the abutting upland property he is tdqai±ed to-tkdnsfer the' H-arbUr Permit'to the new owner. In this particular case, the sale of Parcel 4 and 5 meant that the Harbor Permittee did not retain all ownership of the abutting upland property, however the Marine Department recommended an approval of the sale of these two parcels for the following reasons: (1) all of the upland amenities including parking, trash disposal, restrooms and access to the docks are on property retained by the Harbor Permittee, (2) the Harbor Permittee is retaining ownership of the majority of the uplands that abut this Harbor Permit, (3) the waterway in this particular location over which the marina is situated is not State Tidelands, but is a private waterway. The sale of Parcel 3, identified on the attached exhibit, will change the reasons for allowing that sale very little. With the sale of Parcel 3, the majority of the upland amenities, including parking, trash disposal, restrooms" and access of the docks are still on property retained by the-Earbor Permittee. The Harbor Permittee is still retaining the m'ajority.of the upland property that abuts this Harbor Permit and the waterway is still, in this particular locationf a private waterway and not State Tidelands. TonytMe7um Deputy Director PO > CITY OF NEWPORT BEACH r) -Z RO. BOX 1768, NEWPORT BEACH, CA 92659-1768 Marine Department - 'C- I F 0 1?X- April 19, 1993 Ed Powers C/O California Recreation 1137 Bayside Drive Corona del Mar, CA 92625 Re: Harbor Permit No. 132-201 (Ruebens Parcel) Dear Mr. Powers: The revision to the above permit, which encompasses the sale of one of the parcels adjacent to the Marina, requires City Council approval. The fee for this review is $280.00, made out to the City of Newport Beach. If you have any questions in this regard, please call me at (714) 644-3044. Very Truly Yours, Tony Melum Deputy Director TM: I a 3300 Newport Boulevard, Newport Beach - 2;�jr 241 Agenda Item 15 CITY OF NEWPORT BEACH Marine Department April 12, 1993 TOI: MAYOR AND CITY COUNCIL FROM: 'Marine Department SUBJECT: HARBOR PERMIT APPLICATION 132-201 BY THE GRC RESTAURANTS TO DO MAINTENANCE WORK AT REUBEN'S RESTAURANT ADJACENT TO THE BULKHEAD AT 251 EAST COAST HIGHWAY Recommendation: If desired, approve the application subject to the following conditions: 1. Approval of the Coastal commission 2. Approval of the Army Corps of Engineers Building 3. Approval of the city of Newpport Beach Department Discussion: This application is before the city- Council as required by Section 5.C.3 of the Harbor Permit Policies,.which states: 5.C.3. "Prior approval of the city council will be required bef ore issuing a � permit for shore -connected structures when the upland abutting property is zoned commercial." Thye "'applicant is proposing repairs I to the Reuben's restaurant building, specifically that portion that is on pilings over a private waterway. The repairs will consist of maintenance repair to existing pilings, existing concrete footings and the replacement of a rock revettment to support the existing bulkhead and to stabilize the slope bayward of the bulkhead. most of the work will be done landward of the existing bulkhead line. A portion of the rock revettment, approximately 14 feet, will be bayward of the bulkhead line, beginning at the bulkhead at an elevation of +2 and tapering to an elevation of -2. The applicant has indicated that the placement of the rock bayward of the existing bulkhead line is necessary to get the appropriate support for the bulkhead and that its bayward distance will not interfere with existing docks or boating traffic in the marina. Tony Melum Deputy Director March I�Q �0 1 9 9 3 City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 Attention: Mr. Tony Melum Re: Marina Permits for 333 Bayside Drive Ladies and Gentlemen: The Irvine Company, a Michigan corporation ("Irvine"), as seller, and Marvin 0. Burton, as trustee of the Marvin 0. Burton Family Trust dated May 25, 1982 ("Buyer"), as buyer, are the parties to that certain Purchase Agreement and Escrow Instructions dated as of January 20, 1993, as subsequently amended (the "Purchase Agreement"), pursuant to which Buyer has agreed to purchase the real property described therein which is commonly known as 333 Bayside Drive, Newport Beach, California (the "Land"). Pursuant to the Purchase Agreement Buyer has released and relinquished unto Seller any and all littoral rights or other rights that it may now or hereafter have or claim with respect to the waterway adjacent to the Land and the marina currently located thereon owned by Seller or any future improvements located thereon or any enhancements, repairs or replacements thereof (collectively, the "Marina"). Buyer hereby consents to the City of Newport Beach ("the City") allowing Irvine to own, use and operate the Marina adjacent to the Land and to have permits for such ownership, use and operation. Buyer agrees to indemnify and hold harmless the City from any and all claims, causes of action, suits, damages, costs and expenses it incurs as a result of Buyer attempting to rescind, modify, challenge or chang c4,,consent. This agreement shall be binding up is heirs, successors and assigns. — /Z/ C Ag MAR,V'IN -U. "rBURTON, AS TRUSTEE OF THE MAAVIN 0. BURTON FAMILY TRUST DATED MAY 25, 1982 March 12 G, T 9 9 3 City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 Attention: Mr. Tony Melum Re: Marina Permits for 341 Bayside Drive Ladies and Gentlemen: The Irvine Company, a Michigan corporation ("Irvine"), as seller, and 341 Bayside Drive, Inc., a California corporation ("Buyer"), as buyer, are the parties to that certain Purchase Agreement and Escrow Instructions dated as of January 20, 1993, as subsequently amended (the "Purchase Agreement"), pursuant to which Buyer has agreed to purchase the real property described therein which is commonly known as 341 Bayside Drive, Newport Beach, California (the "Land"). Pursuant to the Purchase Agreement Buyer has released and relinquished unto Seller any and all littoral rights or other rights that it may now or hereafter have or claim with respect to the waterway adjacent to the Land and the marina currently located thereon owned by Seller or any future improvements located thereon or any enhancements, repairs or replacements thereof (collectively, the "Marina"). Buyer hereby consents to the City of Newport Beach ("the City") allowing Irvine to own, use and operate the Marina adjacent to the Land and to have permits for such ownership, use and operation. Buyer agrees to indemnify and hold harmless the City from any and all claims, causes of action, suits, damages, costs and expenses it incurs as a result of Buyer attempting to rescind, modify, challenge or change in any way such consent. 'This agreement shall be binding upon the undersigned's heirs, successors and assigns. 341 BAYSIDMERIVI, INC a Californ cor o6tji "; l: ,, ,, 400 SOUTH HOPE STREET LOS ANGELES, CALI FORNIA 90071-2899 TELEPHONE (213) 669-6000 FACSIMILE (213) 669-6407 1999 AVENUE OF THE STARS LOS ANGELES, CALIFORNIA 90067-603S TELEPHONE (310) SS3-6700 FACSIMILE (310) 246-6779 555 13TH STREET, N.W. WASHINGTON, 0. C. 20004-1109 TELEPHONE (202) 383-5300 FACSIMILE (202) 383-5414 CITICORP CENTER 153 EAST 53RD STREET NEW YORK, NEW YORK 10022-4611 TELEPHONE (212) 326-2000 FACSIMILE (212) 326-2061 WRITER'S DIRECT DIAL NUMBER (714) 669-6913 VIA MESSENGER O'MELVENY & MYERS SUITE 1700 610 NEWPORT CENTER DRIVE NEWPORT BEACH, CALIFORNIA 92660-6429 TELEPHONE (714) 760-9600 TELEX 4722088 - FACSIMILE (7W 669-6994 March 22nd 1 9 9 3 Mr. Tony Melum City of Newport Beach 330 Newport Boulevard Newport Beach, California 92663 Re: Sale of 333 and 341 Bayside Drive Dear Mr. Melum: EMBARCADERO CENTER WEST 27S BATTERY STREET SAN FRANCISCO, CALIFORNIA 94111-330S TELEPHONE (415) 984-8700 FAC5JMILE (415) 984-8701 10 FINSBURY SQUARE LONDON EC2A 11-A TELEPHONE (071) 256-84SI FACSIMILE (071) 638-8205 AKASAKA TWIN TOWER, EAST 16- FLOOR 2-17-22 AKASAKA, MINATO-KU TOKYO 107 TELEPHONE (03) 3587-2800 FACSIMILE (03) 3587-9738 AVENUE LOUISE 106 IOSC BRUSSELS TELEPHONE (02) 647-06-50 FACSIMILE (02) 646-47-29 OUR FILE NUMBER 413,102-208 Enclosed is the final form of the indemnity side letter agreement in connection with the sale of 333 and 341 Bayside Drive. The enclosed letters combine the indemnity provision that you previously approved with two paragraphs which define the various terms used in the indemnity provision. Since you have already approved the indemnity language that is contained in the side letter! the form of the enclosed letters should be acceptable to you. If they are not, however, I would appreciate if you would let me know immediately since we are planning to close the sales of 333 and 341 Bayside Drive by Tuesday, March 23, 1993. Thank you for your assistance in this matter. Sincerely, lj�- Lorie Soares Griffen for 01MELVENY & MYERS LSG:ajg Enclosures cc: Mr. Stephen Brahs (w/out encl.) Ms. Bonnie Reider (w/out encl.) James Stiepan, Esq. (w/out encl.) March 1 9 9 3 City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 Attention: Mr. Tony Melum Re: Marina Permits for 333 Bayside Drive Ladies and Gentlemen: The Irvine Company, a Michigan corporation ("Irvine") as seller ' and Marvin 0. Burton, as trustee of the Marvin 0. Burton Family Trust dated May 25, 1982 ("Buyer"), as buyer, are the parties to that certain Purchase Agreement and Escrow Instructions dated as of January 20, 1993, as subsequently amended (the "Purchase Agreement"), pursuant to which Buyer has agreed to purchase the real property described therein which is commonly known as 333 Bayside Drive, Newport Beach, California (the "Land"). Pursuant to the Purchase Agreement Buyer has released and relinquished unto Seller any and all littoral rights or other rights that it may now or hereafter have or claim with respect to the waterway adjacent to the Land and the marina currently located thereon owned by Seller or any future improvements located thereon or any enhancements, repairs or replacements thereof (collectively, the "Marina"). Buyer hereby consents to the City of Newport Beach ("the City") allowing Irvine to own, use and operate the Marina adjacent to the Land and to have permits for such ownership, use and operation. Buyer agrees to indemnify and hold harmless the City from any and all claims, causes of action, suits, damages, costs and expenses it incurs as a result of Buyer attempting to ,rescind, modify, challenge or change in any way such consent. This agreement shall be binding upon the undersigned's heirs, successors and assigns. MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED MAY 25, 1982 March 1 9 9 3 City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 Attention: Mr. Tony Melum Re: Marina Permits for 341 Bayside Drive Ladies and Gentlemen: The Irvine Company, a Michigan corporation ("Irvine"), as seller, and 341 Bayside Drive, Inc., a California corporation ("Buyer"), as buyer, are the parties to that certain Purchase Agreement and Escrow Instructions dated as of January 20, 1993, as subsequently amended (the "Purchase Agreement"), pursuant to which Buyer has agreed to purchase the real property described therein which is commonly known as 341 Bayside Drive, Newport Beach, California (the "Land"). Pursuant to the Purchase Agreement Buyer has released and relinquished unto Seller any and all littoral rights or other rights that it may now or hereafter have or claim with respect to the waterway adjacent to the Land and the marina currently located thereon owned by Seller or any future improvements' located thereon or any enhancements, repairs or replacements thereof (collectively, the "Marina"). Buyer hereby consents ("the City") allowing Irvine to adjacent to the Land and to have and operation. Buyer agrees to City from any and all claims, ca costs and expenses it incurs as rescind, modify, challenge or This agreement shall be bindin successors and assigns. to the City of Newport Beach own, use and operate the Marina permits for such ownership, use indemnify and hold harmless the uses of action, suits, damages, a result of Buyer attempting to in any way such consent. the undersigned's heirs, change g upon 341 BAYSIDE DRIVE, INC., a California corporation By: Its: By: Its: 400 SOUTH HOPE STREET LOS ANGELES, CAI-IFORNIA 9007[-2899 TELEPHONE (213) 669-6000 FACSIMILE (213) 669-6407 1999 AVENUE OF THE STARS LOS ANGELES, CALIFORNIA 90067-6035 TELEPHONE (310) S53-6700 FACSIMILE (310) 246-6779 555 13TH STREET, N.W. WASHINGTON, 0. C. 20004-1109 TELEPHONE (202) 383-5300 FACSIMILE (202) 383-5414 CITICORP CENTER 153 EAST 53- STREET NEW YORK, NEW YORK 10022-4611 TELEPHONE (212) 326-2000 FACSIMILE (2121326-2061 WRITER'S DIRECT DIAL NUMBER (714) 669-6913 VIA MESSENGER O'MELVENY & MYERS SUITE 1700 610 NEWPORT CENTER DRIVE NEWPORT BEACH, CALIFORNIA 92660-6429 TELEPHONE (714) 760-9600 TELEX 4722088 - FACSIMILE (714) 669-6994 Mr. Tony Melum City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 Re: Balboa Marina Dear Tony: March 19th 1 9 9 3 EMBARCADERO CENTER WEST 275 BATTERY STREET SAN FRANCISCO, CALIFORNIA 94111-3305 TELEPHONE (415) 984-8700 FACSIMILE (41S) 984-8701 10 FINSBURY SQUARE LONDON EC2A ILA TELEPHONE (071) 256-8451 FACSIMILE (071) 638-8205 AKASAKA TWIN TOWER, EAST 181- FLOOR 2-17-22 AKASAKA, MINATO-KU TOKYO 107 TELEPHONE (03) 3587-2800 FACSIMILE (03) 3587-9738 AVENUE LOUISE 106 ICSO BRUSSELS TELEPHONE (02) 647 -06 -SO FACSIMILE (02) 648-47-29 OUR FILE NUMBER 413,102-236 As we discussed on Thursday, enclosed please find a copy of the existing Reciprocal Grant of Easements that deals with parking on the property serving the Balboa Marina, Reuben's and Charlie Brown's. Also enclosed is a copy of the First and Second Amendments. Exhibit D to the Second Amendment contains a good depiction of the actual parking situation at the property. Please be aware that a further amendment of the enclosed documents will be prepared that extends the parking arrangement at the property beyond the expiration of the existing restaurant leases and that deals with restrooms and access. Once the proposed amendment has been prepared, I will forward a draft to you for your review. If you have any questions, please don't hesitate to call me directly. Thank you for your attention to this matter. Sincerely, Paul E. Mosley for OIMELVENY & MYERS PEM: myh Enclosures cc: Mr. Russell Fluter Mr. Stephen Brahs Jeffrey J. Wallace, Esq. PARKING RELIBEN'S RESTAURA I NT PARKING AREA OF 0 �VIC COAST EXISTING Or 14E EXISTING �EVETM EN BULKHEAD PROJECT LOCATION REUBEN'S RESTAURANT 251 COAST HIGHWAY NEWORT BEACH . CA VICINITY MAP 0 0 300 600 1200 2400 SCALE IN, FEET PARKING RELIBEN'S RESTAURA I NT PARKING AREA OF CONSTRUCTION EXISTING BULKHEAD 14E EXISTING �EVETM EN BULKHEAD 2 �4— 0 -4-1 F)aSTi OA'nNG DOCK PURPOSE: REINSTITUTING NEW REVETMENT PLAN VIEW PROPOSED SLOPE STABILIZATION FOR SLOPE STABILIZATION 0 20 40 80 REVETMENT AND STRUCTURAL REPAIR DATUM: MLLW L I IN: NEWPORT BEACH, CA ADJACENT PROPERTY OWNERS: AT: NEWPORT SAY 1. THE IRVINE COMPANY 1"=40' COUNTY OF: ORANGE 2. THE IRVINE COMPANY OF VIRGINIA APPLICATION BY: CASH & ASSOCIATES 3. OCCUPANT RESTAURANT ENTERPRISES GROUO. INC ATTN: WILLIAM BOGER 18831 VON KARMON AVENUE SHEETS 1 OF 2 DATE: 3-18-93 IRVINE, CA 92715 2 —0" THiCK EXIST'G ARMOR ROCK RESTAURANT EXISTING GRADE 6" THICK UNDERLAYMENT ROCK +7.5 L, 0 lc� 0 C) M. L L. W. L-�� v Tu u— —2 MLLW 0 z —4.0 W �= =1 �jl —5.3 00 C. 1 < 0 —0 —8.3 L� U- 3'-0" MIN 0.0' 20.5' 34.0' 47.0' 61.0' SECTION A -A PURPOSE: REINS11TUTING NEW REVETMENT SECTION VIEW PROPOSED SLOPE STABILIZATION FOR SLOPE STABILIZATION 0 3 6 12 24 REVETMENT AND STRUCTURAL REPAIR DATUM: MLLW IN: NEWPORT BEACH. CA ADJACENT PROPERTY OWNERS: AT: NEWPORT BAY 1. THE IRVINE COMPANY i"=12' COUNTY OF: ORANGE 2. THE IRVINE COMPANY OF VIRGINIA APPLICATION BY: CASH & ASSOCIATES 3. OCCUPANT RESTAURANT ENTERPRISES GROUP, 11 INC ATTN: WILLIAM BOGER 18831 VON KARMON AVENUE IRVINE, CA 92715 SHEETS 2 OF 2 DATE: 3-18-93 400 SOUTH HOPE STREET LOS ANGELES, CALI FORNIA 90071-2899 TELEPHONE (2:3� 669-6000 FACSIMILE 2 3 669-6407 1999 AVENUE OF THE STAR LOS ANGELES, CALIFORNIA go 067-6035 TELEPHONE (310) SS3-6700 FACSIMILE (310) 246-6779 555 13TH STREET, N.W. WASHINGTON, 0. C. 20004-1109 TELEPHONE (202) 363-5300 FACSIMILE (202) 383-5414 CITICORP CENTER 153 EAST 53R. STREET NEW YORK, NEW YORK 10022-4611 TELEPHONE (212) 326-2000 FACSIMILE (212) 326-2061 WRITER'S DIRECT DIAL NUMBER (714) 669-6913 VIA MESSENGER O�MELVENY & MYERS SUITE 1700 610 NEWPORT CENTER DRIVE NEWPORT BEACH, CALIFORNIA 92660-6429 TELEPHONE M4) 760-9600 TELEX 4722088 - FACSIMILE (714) 669-6994 Mr. Tony Melum City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 Dear Tony: March 18th 1 9 9 3 Re: Sale of 333 and 341 Bayside Drive / -,� Z, . . . ..................... EMBARCADERO CENTER WEST 275 BATTERY STREET SAN FRANCISCO, CALIFORNIA 94111-330S TELEPHONE (415) 984-8700 FACSIMILE (415) 984-8701 10 FINSBURY SQUARE LONDON EC2A ILA TELEPHONE (07o a56-84SI FACSIMILE (071) 638-8205 AKASAKA TWIN TOWER, EAST 18TH FLOOR 2-17-22 AKASAKA, MINATO-KU TOKYO 107 TELEPHONE (03) 3587-2800 FACSIMILE (03) 3587-9738 AVENUE LOUISE 106 1050 BRUSSELS TELEPHONE (02) 647-06-50 FACSIMILE (02) 646-47-29 OUR FILE NUMBER 413,102-208 As we discussed, the Buyers of 333 and 341 Bayside Drive are agreeable to providing the City of Newport Beach with an indemnity with respect to future actions that they may take challenging The Irvine Company's retention of the littoral rights and the amendments of the marina permits in connection therewith. The Buyers have proposed that the following indemnity provision (with appropriate definitions) would be contained in a letter addressed to the City of Newport Beach and signed by the Buyers of the property: "NOW THEREFORE, Buyer hereby consents to the City of Newport Beach ("the City") allowing Irvine to own, use and operate the Marina adjacent to the Land and to have permits for such ownership, use and operation. Buyer agrees to indemnify and hold harmless the City from any and all claims, causes of action, suits, damages, costs and expenses it incurs as a result of Buyer attempting to rescind, modify, challenge or change in any way such consent. This agreement shall be binding upon the undersigned's heirs, successors and assigns." While the enclosed language is preliminary only, we would appreciate it if you could let me know, at your earliest possible convenience, whether or not the enclosed language is Page 2 - Mr. Tony Melum - March 18, 1993 acceptable to you. We are, as you know, anxious to resolve this issue as soon as possible. Sincerely, C�� Lorie Soares Griffen for OIMELVENY & MYERS LSG:ajg Enclosures cc: Mr. Stephen Brahs James Stiepan, Esq. Lowell C. Martindale Jr., Esq. Agenda Item No. 26 CITY OF NEWPORT BEACH 7 Marine Department MA, 10, 1 3 TO': MAYOR AND CITY ­COUNCIL FROM: Marine Department SUBJECT: HARBOR PERMIT APPLICATION 132-201 BY THE IRVINE COMPANY TO REVISE THE PERMIT FOR THE COMMERCIAL MARINA BAYWARD OF 337 EAST COAST HIGHWAY Recommendation: If desired, approve the revision subject to the following conditions: 1. That the applicant prepare a hold harmless agreement subject to the approval of the City Attorney's office and signed by the owner of the parcel at the Reuben's Restaurant indemnifying the city of Newport Beach against any claim for damages and defend the city in any lawsuit.filed by the property owner as a res - ult of the revision to this Harbor Permit. restrooms remain available in the 2. That mens and womens Reuben's building for the use of marina tenants, and_ that should they cease to be available, alternate facilities will be provided by the Harbor Permittee. rk and have access to the 3. That marina tenants be able to pa marina docks from the Reuben's parcel, and that should this access or parking become unavailable, 'the Harbor Permittee will find additional sources subject to the approval of the Marine Department or reduce the size of the marina operation. This application is before the city Council as required by Section 5.c.,3 of the Harbor Permit Policies, which states: 5.c..3 "Prior approval of the City Council will be required before issuing a permit for shore -connected structures when the upland abutting property is zoned commercial." Currently the Irvine Company, through a subsidiary, the California Recreation Company, operates a commercial marina bayward of several parcels adjacent to Coast Highway and Bayside Drive. on March 8, 1993,'the city Council approved a revision to the commercial Harbor Permit, which facilitated the sale of Parcel 4 and 5 as delineated on the attached exhibit and allowed the Irvine Company to maintain the marina in front of those parcels. The Irvine company now wishes to sell Parcel 3. in front of the and continue to ­ma intain that.portion_ofl-the marina bayward of Parcel 3. Historically, the Harbor � Permit zone has been delineated by the bayward-,ex-tens ion- -,on,,.. the- ,:s�idel,;,pro-per-i--y�-,,lines ...... � When. a - Harbor— Permittee divests himself of the abutting upland property he is required to transfer the Harbor Permit to the new owner. In this �particular- case), -the,-sale-Of - Parcel- 4, -and -5- meant that the Harbor Permittee did not retain all ownership of the abutting upland property, however the Marine Department recommended an approval of the sale of these two Parcels for the following reasons: (1) all of the upland amenities including parking, trash disposal, restrooms and access to the docks are on property retained by the Harbor Permittee, (2) the Harbor Permittee is retaining ownership of the majority of the uplands that abut this Harbor Permit, (3) the waterway in this particular location over which the marina is situated is not State Tidelands, but is a private waterway. The sale of Parcel 3, identified on the attached exhibit, Will change the reasons for allowing that sale very little. With the sale of Parcel 3, the majority of the upland amenities, including parking, trash disposal, restrooms and access of the docks are still on property retained by the Harbor Permittee. --The Harbor Permittee is still retaining the majority of the upland property . s still, in this that abuts this Harbor Permit.and the waterway I particular location, a private waterway and not State Tidelands. Tony MeXum Deputy Director CITY OF NEWPORT BEACH Marine Department March 8, 1993 TO: MAYOR AND CITY COUNCIL FROM: Marine Department Zw— SUBJECT: HARBOR PERMIT APPLICATION 132-201 BY THE IRVINE COMPANY TO REVISE THE PERMIT FOR THE COMMERCIAL MARINA BAYWARD OF 337 EAST COAST HIGHWAY Recommendation: If desired, approve the revision subject to the following conditions: 1. That the applicant shall prepare a hold harmless agreement subject to the approval of the City Attorney -*s office, indemnifying the City of Newport Beach against any claim for damages and defend the City in any lawsuit filed by the property owner at 333 and 341 Bayside Drive as a result of this revision to the Harbor Permit. Background: This application is before the City Council as required by Section 5.C.3 of the Harbor Permit Policies, which states: I 5.C.3. "Prior approval of the City Council will be required before - issuing a permit for shore -connected structures when the upland abutting property is zoned commercial. Currently the Irvine Company, through a subsidiary the California Recreation Company, operates a commercial marina bayward of several parcels adjacent to Coast Highway and Bayside Drive. The exhibit delineating the parcels in question and the marina adjacent to those parcels is attached'i. The Irvine Company wishes to sell the parcels identified on the Exhibit as 4 and 5, street addresses of 333 and 341 Bayside Drive. Historically the harbor permit zone has been defined by the bayward extension of the side property lines. When a harbor permittee divests himself of the abutting upland property he is required to transfer the Harbor Permit to the new owner. In this particular case, with the sale of the two parcels listed above, the permit zone will not change; it will be defined as in the past except that the permittee will not own all of the upland property. Staff is recommending approval of this application for the following reasons: (1) all of the upland amenities including parking, trash disposalt restrooms and access to the docks are on property retained by the Harbor Permittee, (2) the Harbor Permittee is retaining ownership of the major part of the uplands that abut this harbor permit, (3) the waterway in this particular location over which the marina is situated, is not State Tidelands, but is a private waterway. Tony Melum Deputy Director 'Poo, Ile 4b —J, IS 04C le—ll� J. - AK t4 lb iL 4-1 4rt rb� NL log qr ;ON 16. AM VA 4007 IL 0.0 *ft A CITY OF NEWPORT- BEACH DATE:_..Z.,�,- F.ROM: m TIME:.Z.L—� TO: PROJECT:......._' I womwmmmlw� 7' D: MATERIAL TRANSMITTE COMMENTS:. A TOTAL OF PAGES WILL BE TRANSMITTED (INCLUDING THIS-1COVER LETTER), IF YOU DO NOT RECEIVE ALL PAGESp OR IF THE COPY IS NOT LEGIBLEt PLEASE CALL OUR OFFICE (714) 644-3044: AS SOON AS POSSIBLE OUR TELECOPIER NUMBER: (71.4).673-3056 li 400 SOUTH HOPE STREET LOS ANGELES, CALI FORN I A 90071-2899 TELEPHONE (213) 669-6000 FACSIMILE (2iZ� 669-6407 1999 AVENUE OF THE STARS LOS ANGELES, CALIFORNIA 90067-603S TELEPHONE (310) 553-6700 FACSIMILE (310) 246-6779 555 13TH STREET, N.W. WASHINGTON, 0. C. 20004-1109 TELEPHONE (202) 383-5300 FACSIMILE 1202) 3e3-5414 CITICORP CENTER 153 EAST 53-- STREET NEW YORK, NEW YORK 10022-4611 TELEPHONE (212) 326-2000 FACSIMILE (212) 326-2061 WRITER'S DIRECT DIAL NUMBER (714) 669-6913 VIA MESSENGER Q'MELVENY & MYERS SUITE 1700 610 NEWPORT CENTER DRIVE NEWPORT BEACH, CALIFORNIA 92660-6429 TELEPHONE 1714) 760-9600 TELEX 4722088 - FACSIMILE (7J4) 669-6994 Mr. Tony Melum City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 February 28th 1 9 9 3 Re: Sale of 333 and 341 Bayside Drive Dear Mr. Melum: EMBARCADERO CENTER WEST 275 BATTERY STREET SAN FRANCISCO, CALIFORNIA 94111-3305 TELEPHONE (415) 984-8700 FACSIMILE (415) 984-8701 10 FINSBURY SQUARE LONDON EC2A ILA TELEPHONE (071) 2S6-8451 FACSIMILE (071) 638-8205 AKASAKA TWIN TOWER, EAST 18T- FLOOR 2-17-22 AKASAKA, MINATO-KU TOKYO 107 TELEPHONE (03) 3567-2800 FACSIMILE (03) 3587-9738 AVENUE LOUISE E06 1050 BRUSSELS TELEPHONE (02) 647-06-50 FACSIMILE (02) 646-47-29 OUR FILE NUMBER 413,102-208 As you requested, enclosed are copies of the Parcel Maps for 333 and 341 Bayside Drive, showing the locations of such parcels. If I can be of any further assistance, or if you need any additional information in connection with the March 8, 1993 City Council Meeting for the amendment of The Irvine Company's marina permits, please do not hesitate to contact me. Sincerely, Lorie Soares Griffen for 01MELVENY & MYERS LSG: aj g Enclosures cc: Mr. Stephen Brahs (w/encl.) James Stiepan, Esq. (w/encl.) Pf-� (0) � �/- -I -27�7 I t � ; CITY OF. NEWPORT BEACH P.O. BOX 1768, NEWPORT BEACH, CA 92659-1768 Marine Department February 19, 1993 Ed Powers California Recreation Company 1137 Bayside Drive Corona del Mar, CA 92625 Re: Revision permit for the marina at 337 E. Coast Highway Dear Mr. Powers: The changes for the above marina boundaries necessitated by the sale of the Irvine Company property at 333 and 341 Bayside Drive requires City Council approval in the form of a revision to an existing marina. The fee to process this revision is $280,.payable to the City of Newport Beach. Very truly yours, To ny�Me I u Tidelands Administrator 3300 Newport Boulevard, Newport Beach 400 SOUTH HOPE STREET LOS ANGELES, CALI FORNIA 90071-2699 TELEPHONE (213) 669-6000 FACSIMILE (213) 669-6407 1999 AVENUE OF THE STARS LOS ANGELES, CALIFORNIA 90067-603S TELEPHONE (310) S53-6700 FACSIMILE (310) 246-6779 SSS 13T. STREET, N.W. WASHINGTON, D. C. 20004-1109 TELEPHONE (202) 383-S300 FACSIMILE (202) 383-5414 CITICORP CENTER 153 EAST 53RD STREET NEW YORK, NEW YORK 10022-4611 TELEPHONE (212) 326-2000 FACSIMILE (212) 326-2061 WRITER'S DIRECT DIAL NUMBER (714) 669-6913 OWELVENY & MYERS SUITE 1700 610 NEWPORT CENTER DRIVE NEWPORT BEACH, CALIFORNIA 92660-6429 TELEPHONE (714) 760-9600 TELEX 4722088 - FACSIMILE (7A) 669-6994 Mr. Tony Melum City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 February 7th 1 9 9 3 Re: Sale of 333 and 341 Bayside Drive Dear Mr. Melum: EMBARCADERO CENTER WEST 275 BATTERY STREET SAN FRANCISCO, CALIFORNIA 94111-3305 TELEPHONE (415) 984-8700 FACSIMILE (415) 984-8701 [0 FINSBURY SQUARE LONDON EC2A ILA TELEPHONE (071) 256-8451 FACSIMILE (071) 6 B-8205 AKASAKA TWIN TOWER, EAST ISTH FLOOR 2-17-22 AKASAKA, MINATO-KU TOKYO 107 TELEPHONE (03) 3587-2800 FACSIMILE (03) 3587-9738 AVENUE LOUISE 106 1050 BRUSSELS TELEPHONE (02) 647-06-50 FACSIMILE (02) 646-47-29 OUR FILE NUMBER 413,102-208 As we discussed on Friday, February 5, 1993, this letter will confirm The Irvine Company's desire to have the proposed sale of 333 and 341 Bayside Drive considered during the March 8, 1993 City Council Meeting. If there is anything further that The Irvine Company needs to do in connection with the consideration of this matter, please let me know at your earliest possible convenience. We will contact you after the March 8 City Council Meeting in order to determine the decision of the City Council. Thank you once again for your assistance in this matter. Sincerely, Lorie Soares Griffen for 01MELVENY & MYERS LSG:ajg cc: Mr. Stephen Brahs James Stiepan, Esq. Lowell C. Martindale Jr., Esq. 400 SOUTH HOPE STREET LOS ANGELES, CALIFORNIA 90071-2899 TELEPHONE (213) 669-6000 FACSIMILE (213) 669-6407 1999 AVENUE OF THE STARS LOS ANGELES, CALIFORNIA 90067-6035 TELEPHONE (310) 5S3-6700 FACSIMILE (310) 246-6779 555 13TH STREET, N.W. WASHINGTON, D. C. 20004-1109 TELEPHONE (202) 383-S300 FACSIMILE (202) 383-5414 CITICORP CENTER 153 EAST 53-- STREET NEW YORK, NEW YORK 10022-4611 TELEPHONE (212) 326-2000 FACSIMILE (212) 326-2061 WRITER'S DIRECT DIAL NUMBER (714) 669-6913 VIA MESSENGER 0'MELVENY & MYr-RS SUITE 1700 610 NEWPORT CENTER DRIVE NEWPORT BEACH, CALIFORNIA 92660-6429 TELEPHONE (714) 760-9600 TELEX 4722Oa8 - FACSIMILE (714) 669-6994 Mr. Tony Melum City of Newport Beach 330 Newport Boulevard Newport Beach, CA 92663 February 3rd 1 9 9 3 Re: Sale of 333 and 341 Bayside Drive Dear Mr. Melum: EMBARCADERO CENTER WEST 275 BATTERY STREET SAN FRANCISCO, CALIFORNIA 941ll-3305 TEI-EPHONE (415) 984-8700 FACSIMILE (415) 984-8701 10 FINSBURY SOUARE LONDON EC2A ILA TELEPHONE (071) 256-8451 FACSIMILE (071) 638-820S AKASAKA TWIN TOWER, EAST ISTH FLOOR 2-17-22 AKASAKA, MINATO-KU TOKYO 107 TELEPHONE (03) 3587-2800 FACSIMILE (03) 3587-9738 AVENUE LOUISE 106 1050 BRUSSELS TELEPHONE (02) 647-06-50 FACSIMILE (02) 646-47-29 OUR FILE NUMBER 413,102-208 As we discussed earlier today, The Irvine Company (whom we represent) has entered into Purchase Agreements for the sale of 333 and 341 Bayside Drive (the office building and Yankee Tavern Restaurant adjacent to the Balboa Marina). We would like confirmation from the City that The Irvine Company's marina permits will not be affected by the sale of these properties. For your convenience, I have enclosed complete copies of the Purchase Agreements for the two transactions and I have marked the relevant provisions relating to the marinas. As you will see, the Purchase Agreements and related documents are quite specific that the buyers of the property have no rights with respect to the Balboa Marina and that The Irvine Company retains all of its rights with respect thereto. In addition, the parking facilities and restroom facilities which are used in connection with the Balboa Marina will be unaffected by this transaction. As I mentioned, it is currently contemplated sale will close at the end of the month. Accordingly, appreciate your review of the enclosed documents, and confirmation that The Irvine Company's marina permits that the we would will not be Page 2 - Mr. Tony Melum - February 3, 1993 affected by the transaction set forth therein, at your earliest possible convenience. Thank you in advance for your cooperation. Sincerely, I YIAA�� Lorie Soares Griffen for 01MELVENY & MYERS LSG: aj g Enclosures cc: Mr. Stephen Brahs (w/out encl.) James Stiepan, Esq. (w/out encl.) Lowell C. Martindale Jr., Esq. (w/out encl.) STATE OF ss. COUNTY OF On the A -d day of &&�'be'- , 1991, before me, the undersigned, a Notary Publ:ic, in and for said State and County, personally appeared A:oedepie-lc 0. Sy-ans and ClQrt"Ce W - 66rikel^ . personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons who executed the within instrument as the-v/;te' President and Ass/S.Agn't Secretary, on behalf of THE IRVINE COMPANY, a Michigan corporation, the corporation therein named, and acknowledged to me that such corporation executed the within instrument pursuant to its bylaws or a resolution of its board of directors. WITNESS my hand and official seal. s"n Notary Puy, ic ""M -S'ERA (SEAL) OFFIM �D AUDREY M. POPE NOTARY PUBLJC - CALTORNIA ORANGE COUNTY .y 5 . 19 x0f, My Comm. Expires KTf 25, 1993 CONSENT AND AGREEMENT FOR SUBORDINATION The undersigned, The Prudential Insurance Company of America, a New Jersey corporation ("Prudential"), as beneficiary under that certain deed of trust recorded September 7, 1983 as Instrument Number 83-391352 of the official records of orange County, California (the "Deed of Trust"), which Deed of Trust creates a lien or charge on a portion of the "Easement Area" described in the foregoing Reciprocal Grant of Easements, hereby consents to the terms and conditions of the foregoing Second Amendment to Reciprocal Grant of Easements and to the execution and recordation of said, instrument. Notwithstanding the prior recordation of the Deed of Trust, Prudential hereby further agrees that the Deed of Trust is subordinate and subject to the Reciprocal Grant, of Easements as amended by the First Amendment and the Second Amendment to Reciprocal Grant of Easements. Dated: 1991. The Prudential Insurance Company of America, a New Jersey corporation By: I t s Its: A551S rr 5,cif-9-rAlet STATE OF ss. COUNTY OF 40:5 /410-1499 On the 141_-�day of - Ato A, 1991, before me, the undersigned, a Notary P�blic, in and f said State and County, persor M. ,Wly appe ed r o., Q -n and V6 76 b - L. a-, , personally known to me - K /11 LZ Y7-7 (6 b (or prov6d to me on the basis of satisfactory evidence) t be the persons who e ecuted the within instrument as the President and '755t'- - Secretary, on behalf of THE PRUDENTIAL INSURANCE COMPAZ�Y OF AMERICA, a New Jersey corporation, the corporation therein named, and acknowledged to me that such corporation executed the within instrument pursuant to its bylaws or a resolution of its board of directors. WITNESS my hand and official seal. OFFICIAL SEAL IRENE M. MCDONALD Notary pumc-Carifornia LOS ANGELES COUNTY My Comm. Exp. Oct 16, 1992 Notary Pu lic (SEAL) STATE OF eal,'10,00n;4— ) ss. COUNTY OF Ora nj e-, On the day of S�L\A # 1991, before me, the undersigned, a Notary Publicil in' and for said State and County, pers eared ---E �� 91-7- e - and personally known to me (or proved to me on thi basis of satisfactory evidence) to be the persons who executed the within instrument as the . ViCiP. President and -AZI Secretary, on behalf of GRC RESTAURANTS, INC., -*a California corporation, the corporation therein named, and acknowledged to me that such corporation executed the within instrument pursuant to its bylaws or a resolution of its board of directors. WITNESS my hand and.official seal. jNalf �Public OFF'C'-"' DITH L. PP 0 WR( PUBLIC - CALIFOR NIA (SEAL) OFFICIAL SEAL JUDITH L. ERNST NOT PUBLIC 0 0 RAIANGE COUNTY M kly comm. 'p. �'i y comm. expires JAN 7, 1O.c-4 10 C I ITY Or NEWPOW REACK 14-WRIP19OR PEFR21.1MIT PERM)SSI TRUC.T AND �h MAINTAIN THE FACtLfP',' HEREOF, Of AT THE SIT-jr T L P4 T MZA-tli TWE NW'4ROQ,�7 Ax,11Y TRA,' IS �1 07 7 THE C�,--Y ONL"; "?4CM A 'D 7 E IS N IN '-V5'T;4 I,- � 2--2-01 F®RMIT NO.' CITY HARISUK %;1V%PK1v'9A-T0R DATE SPECIAL CONDITIONS: CONSTRUC-klul"-��,Ii kill, I jij DATE .. SEE ATTACRED SHEET spacs"'go'. C404*PS of Cr2gli-:z-ots r4trrn-at 2112-1�-o Grartge County Permit Other: 5C-0-2 CC - 11;5 / 5�-D 1. Restrooms being provided in accordance with Section 19 of the Harbor Permit Policies. 2. All electrical, plumbing, and fire equipment installed shall comply with Section 18 of the Harbor Permit Policies. 3. Parking be p'rovided as required by Section 17 of the Harbor Permit Policies, and at no time shall there be less than 95 parking spaces available for marina use. -"0 -201 Cl deACI-1 jog .51 TL < 79-9.0 -4.0Allf -*Wr At 49, /0 VICIMITY SKETCH �Nxwpowr t3AY, CA410:01XNIA sbup)olln95 ol*e /r7 Yreel ano' �Av 5 olop e.7)obl."Shlrd l;7 Bar. roll- E-rnll rO IL 1�7 TS 3 PA /S rY - 00 ARC -A 44 A - - tIPIA1,4,L S" rc) / Z- L r r-!;, 0 k ->L=,4 "z" - 1-,5 06' HOArS' ro / I- C- r-5, 51AIeY 7-0 T4 Z- 404 SPI Q C,--- 5 SIIVK�5 / 5? - 05- -0 7' 40 -?4 it ��qcb-/c col-Irr A/W y 7 07- 0 Z- 07- A Z- 0 r J? -S 1 7' S 127 7-OrAZ- f !0, 4 xo� peopo -Vr7-,4C I-IlWeoV 7-) p Ulvc V,4 7-C- 4 -;)OCA -:9- 0 /NVVO? Al -L c--Xlsr. .00(��ef� 2 1017/4 57�,4,MI41,0 &10 -zoo -70' 6)0 APALICA 7;�!AC7 - - IVA"LL 21L r- 0 rkA v r i A az, v lz-r 7.2 7,7�' coAsr I-IA5��Iw,4Y CoAlrrAcrom OA7 -Ioa AODZ6*ss ev V, C -A 87-138004U 5022-082286-11 RECORDING REQUESTED BY AND WHEN RECO.ADED RETURN TO: THE IRVINE COMPANY 550 Newport Center Drive P. 0. Box I Newport Beach. CA 02660-0015 C2 Attn: General Counsel - Retail Arcorow AMESTFU By TICOR IITLE INS. 00. OF CALIF. N ()Fi'-!`;AL PECOMS M.' t Y. CALWOANLA MAr, Aq 3 1'90'37 P1111 =)e�a -Id--t, c=n (Space above this line for Recorder's use only) RECIPROCAL GRANT OF LASEMLNTS PARTIES AND DATE This Reciprocal Grant of Easements (the *AgreementO) Is made this 26L., day of January . 1987. by and between The Irvine Company. a Michigan corptiration, dba Irvine Retail 'N Properties Company ("Irvine'). STEWART FAMILY TRUST ESTABLISHED JUNE 3n, 1977 and TRUST UNDER WILL OF CHARCES ULLMAN DECEASED .(Trust A and Trust B) (collectively "Ste%�art ard Ullmanw) and 4GRACE RESTAURA4T COMPANY. a California corporation. formerly known as Far West Services. Inc. 4"Grace"). Irvine, Stewart and Ullman and Grace are sometimes individually referred to herein as "Owner" and collectively referred to herein an "Owners.* it. RECITALS A. Pursudnt to the folicwji,q dezcribed ground leases (collectively the "Ground Leaseso). Irvine is leasing to Grace and to Stewart and Ullman an interest In real property located near tliv Intersection of Parific Coast Highway and Rayside Drive In the City of Newport Beach. State of Cdlitornia, whicl- -0-^1 property interests (collectively the "Ledsed Premises". particularly described on Exhibit "A" attdch" hereto and incor- porated herein by this referencet 1. Ground Leaup dated Jullu 30. 1960 by and between Irvine. as lessor. and Stvwart atad Ullman, as lessee and successor- in- interest to Richard 1. Stewatt and Charles Ullman, at 'amended by that certain Amendment No. I to Lease dated rebruary 23, 1978. -I- 87-138040 2. Ground Lease dated October 1, 1963 by and between Irvine. as lessor. and Grace. as lessee and successor -in - Interest to John R. McIntosh, James L. Gray and William C. McIntyre. as amended by thet certain Amendment No. I to Ground Lease dated April 1%. 1964 and that certain Amendment No. 2 to Ground Lease dated September 10, 1964. 0. Adjacent to the Leased Premises, Irvine owns that certain real property described on Exhibit "B" attached hereto and incorporated herein by this reference (the 'Marina Parcelm) and that certain real property described on Exhibit *C* attached hereto and incorporated herein by this reference (the "Corner Parcel"). The Marina Parcel, the Corner Parcel, and the Leased Premiser, are sometimes collectively referred to herein as the "Property." C. The owners deem It desirable to establish recIpro- cal easements for access. Ingress and egress to and from, and parking on. each of their respective parcels, all for the purpose of convenience In operating their respective business operations at the Property. The purpose of this Agreement is to set forth the terms and conditions for the reciprocal easeruents. Ill. RECIPROCAL ACCESS A14D PARMIUG CASCMCNTS A. Grant of Casementst For valuable cvnsideration, receipt of which is hereby acknowledged. each of the Ownefa hereby graints to th* other an easement over all of that portion of the Property In which the ?-!spective parties hold a ground lease Interest or an ownership interest. as the case may be. except those portions of the Property upon which improvements. including buildings, foundations, permanent landscaping. fences and w3lls. are now or hereafter constructed (the "Casement Ared"). fort I I ) Vehicular and pedestrian access. Ingress and egress on and over driveways. walkways and parking areas, and driveways and walkways At curb cuts and entryways permitting access to and from publicly dedicated streets and highways. as the same now exists or ate In the future constructed (the "Access Easement"); and (Ill Parking of motor vehicles, motorcycles and bicycles, In marked patking stalls as they now or from tlette to time exist, together with the right of vehicular pedestrian access, ingruss and e9resn to and front such parking stalls (the "Parking Easement"). Notwithstanding the fofegoing. Lite Idndsodped dreas identified on Exhibit 'D' attached hereto and incorpotdted herein by this reference shall comprise a portion of the Casement Area. -2- J. 87-138040 Character of Casements Both the Access Easement and the ParkLng Casement granted herein &rp APPurlunant to and for ' the use and bene It of eacil gf the parcels compr f IsIng the Property and are non-exclusive easements for the purposes &a specified In this Agreement. C. Use of Casement The Owners agree not to avail themselves Of rights under the Access Casement or the Parking Easement in Such manner as to unreasonably interfere with the fight& of the other Owners. Of the lessees, inviteec and licensees of the other Owners, to use and enjoy their respective parcels. None of the Owners shall have the right to install, construct, maintain, and shall not permit the Installation, construction, Or maintenanc& fence. wall, building of, any Impede of cther improvements that may block or the use of the easements granted hefein, Including. specifically, any fence. wall, buildings or other improvements an Of Over the common boundary line separating each of the Owner's parcels. Control and Operation Irvine shall at all times during the term of this Agreement have the sole and exclusive control of the Easement Area and may from time to time Prescribe reasonable parking rules and regulations for the use Of - the Easement -Area. Irvine may restrain by appropr;ate Ptoceedings any use or occupancy of the Casement Area except as authorized by the rules and regulations established by Irvine and may remove any unauthorized person from the Easement Area and/or Low away any vehicle parked in violation Of such rules and regulations. Nothing contained herein t4eemed shall be to create liability upon Irvine for any damage to motor vehicles of Customern or employees of _4 from regard loss of property with to such motor vehicles. The responsibilities of Irvine under this Section ftD." Shall be performed by California Recreation Company, a division of The Irvine Company 1"cal. Rec.01 or such other entity as Irvine may designate from time to time as Its representative. MAINTENANCE AND RCPAIR OF EASVYWNT ARLA A. l0aintenanco and Repair The Owners hereby agree that Irvine shal: maintain and repair during the term of this Agreement Area I all of the Easement subject to reimbursement for the costs thereof In Article -IV.. as provided B.- below. Such maintenance and repair shall lncluJu, without limitation. gardening and landscaping wit respect to all landscaped areas located within h the Easement Area. maintaining and "Pairing all Plumbing and electrical facilities 87-138n4U which service the Easement Area, repaving, resurfacing. removing, replacing. painting, restripinq. lighting. cleaning. sweeping, removing trash (except that Irvine shall not be responsible for the emptying of any trash dumpsters on the Property). replacing necessary appropriate directional signs, and markers and lines. Irvine may also make changes at any time and from time to time in the size, shape, location, number of Spaces and extent of the parking facilities in the Easement Atea. The manner in which the Easement Area shall be maintained and repaired, and the expendi- tures therefor. shall be at the sole discretion of Irvine. The areas to be maintained and repaired shail Include, without limitation. the automobilt- parking areas. driveways. entrances, exits, sidewalks, pedestrian passageways. and landscaped and planted areas located within the parking areas and shown shaded on Exhibit "D" attached tc, thiz Agreement. Nvtwithstanding the foregoing and except ar. provided in paragraph "H." below with respect to th(- Cotner rdicelt all taxes, anuessmentst levies, fees and other governmental charges levied or assessed against or with respect to the Easement Area, and the cost of insurance with respect to the Easement Area shall be excluded from the mainte- nance and repair obligations of Irvine pursuant to this Agreement and each party shall 1,ay. prior to delinquency. In accordaiice with the terms of its respective Ground Lease, all such taxes with respect to that portion of its Leased Premises comprising a portion of the Easement Area, and shall keep in full force and effect insurance as required by Article *V." below. Each party agrees to reimburse Irvine tot the full cost of all repairs in the Easement Area which ate required. in the opinion of Irvine. as a result of any. misuse or neglect committed or permitted by such party or by any guest. invitve or emplvyee of such party or as a direct result of the rippration of such party's business con- ducted at the Property. In additi-n. edcli Owner shall maintain and repair. in accordance with the tofn,s of its respective Ground Lease, that portion Lot itLo LeaL;vd Nerti-A'ses that does not comprise a portion of the Easement Area. All of Irvine's maintenance and repair reuponsibi I !ties as set forth in this Section "A." shall be administer(d through Cil. Rve. or --uch other entity as Irvine may deniqnaLe fr;jtti time to time as its repir-L;entative. Maintenance C�'sts All costs dnd expense:; inctarred by Irvine in the repair and maintendiice (,f the Ujo.ettient Area Ithe "Maintenance Costs"), tegaidless of Whether the Maintenence Costs are incurred by Irvii,.-- directly in the pertr-rmance of the work itself cr pdid by Irvine to outside crintractrr:;, shall be allocated proportion- ately between thf- Owners heretc;. including Irvine. SuCh Mainte- nance Costs shall include a tee to Irvine fur administrative and overhead costs in an amount equal to fitteen percent Il!)%) of all Maintenance Co:;ts. Cacti Owner's dIInCJbIQ shire shall equal the product of the uuni (of all Maintenance Costs multiplied by d fract ion, the nUmerator ct which shal I be the square footage of that portion of the Cdsenit-rit Area in which the respective Owner -4- holds a ground lease Interest or ownership interest, dS the case may be (except that pursuant to the paragraph next below the numerator shall exclude the square footage of the Corner Parcel for purposes of determining Irvine's shate of the Maintenance Costs) which square footage for each Owner is set forth in Exhibit "E" attached hereto and incorpoteted he.ein by this reference. and the denominator of which shall equal One Hundred Fifty -Three Thousand, Five Hundred Sixty-Thfee (153,563) square feet which constitutes the total square footage of the Easement Area (excluding the square footage of the Corner Parcel pursuant to the paragraph next below). or any other reasonable allocation at; determined by Irvine. The Owners agree that the allocable shire of the total Maintenance Costs to be paid by each Owner shall be as set forth on Exhibit "E". The Owners recognize that the real ptcperty com- prising the Corner Parcel is unimproved and therefore Is riot generating any additional use of the Easement Area for the purposes described in Article "Ill., A." above. Accordingly. the calculation of edcli pdrty*r, propurtionate share of the Mainte- nance Costs. as set forth above. excludes the square footage of the Corner Parcel in order that the Maintenance Costs in connec- Lion With the Cornet P4rcel are proportionately shared by all of the parties. includinq Irvine. In addition, the following costs and expenses incurred with te.%pect to the Corner Parcel shall also be proportionately :�vared by all of the Owners in the same manner as Matiliteno"ce C ­51_J: fil the C'J5t and expense -of providiiig public liat.ility, pt ope t t y damage. vandalism and malicious miscilief injurance with respect to the Curtiet Parcel. in accordance with Article "V." below. dnd (ij) all taxes. assess- ments, levies. feeL, and other Qoverrattental charges. including general and special real property taxes, levied or assersed against at with rvspe.�t to the Coiner I'dicel. C. Time of Payment Each Ownvr Shall pay if- Irvine wittiout demand, on or bef,;re the first (Ist) day of each calendar quarter of the term i -I ttis Aqteement. its Share of expenses for the maintenance and rep.�jr of the Easement Area as estimated or at Irvine's optiall as actually incurred and billed by I -vine. either in advance or in arrears, from tirt-e to time, bill. not more often than quarterly. ut-se payments shall be deemed to be ad4itional rent under each of tfie vwner*s respective Giound Lea -es and the failure to pay any such installment art or before such due date. witliout any deduction at offset. shall carry with it the same co;isequencer; as such O%jiicr*s failure to pay rent under its re:;pective Ground Lease. U. Annaal Adjustment Sulj:�.!quent to the end of e-.jctl Calunddr year ot IrvItle's fiscal yvar, at Irvine's tptit,n. Irvine :;hall futnish -12- a 4. a 87-138C40 4. each Owner with a statemeni of the actual amount of each Owner's share o f expenses for the preceding period. If the total amount the actual amount due from such paid by any Owner is less than Owner, such Owner shall pay to Irvine the difference within ten 0 ---% after the date of the statement. Any exccc-- of the due from su ch am�unt paid by any 061—dctudj, amount oext coming due. Owner shall be crediLU- aVdIIIS1, J11titdiiIIII E. interest and Late Charges in addition to Irvine's right to exercise the remedies set forth In the respective Ground Less*& relating to an in the Owner's failure to pay rent under such Ground Leases, lolls time to pay Its ev4nt that Any Owner or refuses at any the Maintenance Costs when due, then, after written shar* Of demand and failuie to pay within ten (10) days after receipt of such demand. legal action may be Instituted against the defaulting owner for reimbursement, and the amount due from such defaulting owner shall bear Interest at the rate of five 15) discount rate of Interest percentage points over the then current from time to time by the rederal Reserve Bank, San as announced rrancisco. California (the "Interest Rate") from the date such payment Is due until paid. During the period of any delinquency hereunder, the interest Rate shall be adjusted quarterly. In no than the shall the rate of Interest hereunder be greater event addition to lost by law. In highest rate then allowable interest. a late payment by an Owner will also cause Irvine to accrue other costs not contemp lated in this Agreement. the exact be difficult and impracticable to amount of which will extremely ascertain. Such other costs include, but are not limited to. it processing, administrative and accounting costs. Accordingly, not be received an Owner's share of Maintenance Costs shall ten (10) days after such aluoul't shall be due, the within to ten d,..dalting owner shall also pay a late charge equal The hereby agree percent (101) of guc.. overdue amount. parties late charge represents a fair a nd reasonable estimate that such of the costs Iry I ne will incur in processing such delinquent late payment by the defaulting owner and that the payment of A Interest are distinct and separate from charge and the payment of one another in that the payme nt of interest is to compensate (or the defaulting owner, while the the use of Irvine's money I for the additiona payment of a late charge 18 to compensate administrative expense In. handling and 'lucessing a delinquent p payment. V. INSURANCC -)ntrdry contained Notwithstdnding anything to the c. any Ground Lease, each Owner at Its sole cost and expense and *Eff6ctive Date" Jas defined below), agrees commencing as of the and keep In full --force and effvct for so long as each to pr ocure Owner Is a party to thii Agreement lite follOwI119 types Of insurance with re �spect to- tha t portion of the Casement Area over -0. -6- Y d 10 Jai Comprehensive liability insurance with limits of not less than One Million Dollars J$1,000,000) Combined single limit bodily injury, personal Injury, death and property damage liability per occurrence or current limit carried by the procuring partye whichever is greater, Insuring against any and all liability which Is occasioned In whole or In part by the procuring party with respect to the use of the Casement Area by such party and its employees, guests, Invitees and represent&- tIves. rurther, all comprehensive liability Insurance shall include. but not be limited to. personal injury, blanket con- tractual. crocs-liability and severability of interest clauses, producL/completed operations, broad form property damage, Independent contractors, owned, non -owned and hired vehicles and, if alcoholic beverages are served, sold, consumed or obtained liquor liability. anywhere on the Leased Premises, (b) Worker's compensation coverage as required by law. t-g-ther with employer's liability coverage. and waiver by each owner's insurer of any right of subrogation against any addl- tional insureds by reason of any payment pursuant to such coverage. Each policy shall name the Owners aa additional insureds and shall be for the mutual benefit and prQtection of all of the Owners. Cortificates evidencing the above-described insurance coverage shall be delivered to each Owner within ten (10) days following the execution of this Agreement. Each policy shall also provide that It may not be cancelled or subject to reduction of coveraqe or other mcdification except after thirty 130) days' prior written notice to each owner. All public liability. prcperty damage and other casualty policies sha I I be written as primary policies and any itisurance carried by the other Owners shall be non-contributing with such policies. V1. INDIN1111Y V4ch Owner hereby agrees to n emni:y. detend and hold the other owilers ivittiiely harmless from and against any and all liabilities. demands. actions. losses or claims for d.%magez for I.trfsQnal injury (including bodily injusy and death). property damage Jincluding damage to property of all of the owners). or other costs ancf charges. including attorneys' fees, arising out of or caused all or in part by the use ct the Casement Area by such Owner and such Owner's employeeso Quests# invitees and representatives of from any breach of this Agreement by such Owner. -7- zc_ r-40 87-13K which an Owner owns a ground lease interest of, In the case of Irvine, a fee Interest unencumbered by a ground Leaset Jai Comprehensive liability insurance with limits of not less than One Million Dollars J$1,000,000) Combined single limit bodily injury, personal Injury, death and property damage liability per occurrence or current limit carried by the procuring partye whichever is greater, Insuring against any and all liability which Is occasioned In whole or In part by the procuring party with respect to the use of the Casement Area by such party and its employees, guests, Invitees and represent&- tIves. rurther, all comprehensive liability Insurance shall include. but not be limited to. personal injury, blanket con- tractual. crocs-liability and severability of interest clauses, producL/completed operations, broad form property damage, Independent contractors, owned, non -owned and hired vehicles and, if alcoholic beverages are served, sold, consumed or obtained liquor liability. anywhere on the Leased Premises, (b) Worker's compensation coverage as required by law. t-g-ther with employer's liability coverage. and waiver by each owner's insurer of any right of subrogation against any addl- tional insureds by reason of any payment pursuant to such coverage. Each policy shall name the Owners aa additional insureds and shall be for the mutual benefit and prQtection of all of the Owners. Cortificates evidencing the above-described insurance coverage shall be delivered to each Owner within ten (10) days following the execution of this Agreement. Each policy shall also provide that It may not be cancelled or subject to reduction of coveraqe or other mcdification except after thirty 130) days' prior written notice to each owner. All public liability. prcperty damage and other casualty policies sha I I be written as primary policies and any itisurance carried by the other Owners shall be non-contributing with such policies. V1. INDIN1111Y V4ch Owner hereby agrees to n emni:y. detend and hold the other owilers ivittiiely harmless from and against any and all liabilities. demands. actions. losses or claims for d.%magez for I.trfsQnal injury (including bodily injusy and death). property damage Jincluding damage to property of all of the owners). or other costs ancf charges. including attorneys' fees, arising out of or caused all or in part by the use ct the Casement Area by such Owner and such Owner's employeeso Quests# invitees and representatives of from any breach of this Agreement by such Owner. -7- 87-138C 4J Vil. RIGHTS Ol� LENDERS A. Mortgagee Defined The term 'Mortqagee' shall include a mortgagee under any mortgage and a beneiiciary under any deed of trust and the term -M4jrtqdqe" shall in-lude 31-Y illuenture C)l picrtgage, deed of trust or similar Instrument oecuring a loan made in good faith and tot value to dny of the Owners with respect to the financing or refinancing of each Owner's respective interest in the Property or ally portion thereof or any Improvements thereon. 0. Protection of Lenders No breach of V101 -l' !-11 Of any Pff'"Slon Ot this Agreement by any of the owners chill defeat or tender invalid the lien of any Mortgdqee; provided. however. that all of the provi- sions of this Agreement. shall be binding upon and effective against any Owner, incitidinq mortgaciee. who acquires either tee title or a leasehild intvIv-';t in any portion of the property by judicial fofeclocure, titirtev's rale or deed In lieu of foreclo- uure Ohe "Owner by l*otecI,:;ufQ"). except that such Owner by Foreci(isure sha!l lake titic. tree and clear of ally unpaid amounts In breach of this Aqrevment ii--isc)nably attributable to its prede- cessor(s) in title oef-istring print to ally such transfer of t I t I e . t1atwithstand&iiQ I ' lie foreyoing ur any other provisioll Of this Agreeii-ent, n, act. cjl oblIgitiin of Irvine shall defeat, invalidate or s1Ipt-r:;fde any obliqatiult of Irvine as set forth in d Mortgage pxecuted by Irvine, and in the case Of & conflict between aisy provision 01 this Agreement and such Mort- gage, the latter uhi!] g.,vL-rn a5 betweell Irvine and such Mc.rt- qdgee. C. Lltec-t of I*c.reciosuie In the ever.t tndt IlVll1@.-%; fee title is acquired by all Owner by and -�%JCII acquisition results III Irvine no longer owning 4 ft- .1iterest in any Of the Property. the follow- ing shall applyl Control and Maintenance of I;asviu;�nt Ate&. c I IV V I il"l-iR the--gai'll"rit V ­_ i"rii; '(-' The sole and exc)usi� ­_6T1t­-'I EVI -� t! Area as provided in Article "Ill., D." above, and the responsi- bilities of Irvine for all maintenance and repair and collection of cooLs therefor as provided in Article 'IV." Above, shall not apply to such r)wlipl by t,creclOsure. Ill livu thvre�,I. the Owners or nuch parties' SucceagOIL; of shall. at their sole cost and expvnse. bec'"le tot all mainte- nance, repair and contrcl Of that p,>rtton zA the Usument Area for which such party hzldr, d leaSehold Interest. of a IPe interest which I:; not subject to a ground leaue. but without isivaliditinq (,I diminishing ally vd:;01helIL rights provided it% Article "Ill.. A." atiovV. -11- 87-138040 2. R±asohableness Standard. In carrying out the responsibilities set7 forth -Un graph '1.* next above. each Owner shall be reasonable in administering, implementing, enforc- Ing and discharging any such rights of maintenance and control, and may lot act with each other according to its sole discretion. 3. Maintenance Entit . In lieu of assuming the maintenance and conf-rol responsi ies set forth In paragraph "I -ft of this Section 'C.* above, the Owners may. at any time, form a CdJifornia non-profit mutual benefit corporation or other entity in order to carry out the maintenance, enforcement and similar Obligations set forth In Article 'IV." and in Article "Ill., D.. above, subject to the consent of all Owners and Mort- gagees. In such event, the Owners shall assign to such entity. and such entity shall assume, all ouch maint.enance obligations slid duties putsuant to d recorded instrument executed by the Owners and Mortgagees and by such maintendrice entity. The voting power of each Owner in any such maintenance entity shall be based upon the Proportionate amount of land in the Easement Area that is , Ithor ground leased by such Owner or owned in fee but not subject to a ground lease. Vill. TERM The term of this Agreement shall contmence as of the date of recarddti011 in the Official Records Of Olange County. California (the %EffeCLive Date"), and Shill continue in effect thereafter (Of a period of twenty J20) years (the *Term"), unless otherwise terminated or extended by writLen agreement which has been duly executed by all of the owners and their Mortqagees (if any) dnd recorded in the Official Records of said County oil or before the expiration of the Term. IX. ENTIRE AGRELMENT This Agreement superuedei; all Other agreemews. Oral or In writinq. which have been entered intr. by and betwt?en any of the Owneir. reqarding the subject matter ileteof, including any parking ea.-;v1i,pnt r19hts that may have been PrevicuLly granted by one of the Owners to another owner. This Agreement ccristatutes the entire dqreement h0twe011 the paitles relating to the rights granted and the obliqations assuated in this Agreentent. X. ENLARGEMENT 01- LASEMENT ARLA The Easement Area may be 011ldt9i-d to include any real property located adjacent to the Property. provided that an amendment to this Agrvemeiit is executed by the Owners. and by all parties owning a fQQ title or ground ledsvhold interest In uuch adjacent real property, which amendment Wiall incorporate such Wz W 87-138-4U adjacent real property as part Ot tile L:jsemctlt Area and shall provide that all parties holding,a fee title or ground leasehold interest in such adjacent real Property Shall be br�und by all the terms and conditions of this Agreement. All c"ts incurred by Irvine in connection with the preparation Of such adjacent real property for use as a parking facility Shall be included in the costs to be proportioned between the pdftit-!; pursuant to Article "IV. B." above. in the event the F.asemetit Area iv. enlarged, each Owner's share of maintendrice costi; as defined its Article "IV -- B." above sliall be recalcul&ted baued upon the new uqua.re footage of, the EaSement Area. X I IJOTICUS All notices# C-*'.vltr,, ruquebts, demands or other com- municationa provided for herein shall be its writing and shall be deemed to have been duly given if and when personally served or forty-eiqht (481 hourz after depa3it in the United States mail in the State of California, rp9istered or certified with return receipt eq-jected, poutaqe prepaid and Properly addressed to the I oppouite the signaLures below. address set forth for each Party rjr notices by Any party may from time to time change its address part ies in the giving written not ice G! such change to tile other manner provided dbove.. X, 1. ATTC1R?.L:7S' ITI-S 111 tile eve nt [,t Jll�, culltrover:;y, :1jln, or di:;pute gelat- inq to thiu AgrQUIld. nt I,, d breact. hert-of, tile pt(,v,iling party shall be entitled to rec,;vet from tile party its reasonable attorneys' I C. -t-5 . and crsts, n-,1 limited to taxable expenses. dt 'd by tl- c ;II rt Ur juri , in addition to all co:jt 0. aL; -terr-iii -v .y be entitled. other relief to which the- ptevailing party It X111. Y. I SCULLAULOLIS it. C�nfliet Of lncvn!;ISICIICY 11% tile event there is any cJIIl lict Et iIIczPI%JiL;t VICY between the tpfmr. ,n,j condiW,,nn of this Aoteement avid the terms Ground Leaue!; with teSPt-cL to tt;e and conditions Of ally Of tile of subject vv1dtt(-r of this Agreer"Clit, the terti,:; and conditions this Agreelitent shall cuntrul avid q,,Velll ttit. tiqht%; and obliga- tiolir. Of the parties- S.jccv!;:;0r:; and A:;%oiqllki contained in All Jf tile covenants and e.,n,1ItiQnL; thin Agreepient shall extend I.o Ind toe bindi liq upon the successors in interest to (.dell vl tlie parly*t; fee Or It-dschl"d illtere"t' as -lu- 87-138AU the case may be, and all heirs, executors, administrators, assignees and subtenants of the parties. C. Governing Law This Agreement shall be governed by dnd construed under the laws Of the State of California. D. Amendment instrument si This Agreentent may be dmended by atily lecordinq an gned by all Owners and Lbuir respective Mort- gagoes. No Owner or Mortgagee may unreasonably withhold agree- Olent to any amendment which does not adversely dlipct impair the its rights, value of its security. Or 1110dify Pach party's propor- tiOndte share of maintenance au defined in Article "IV., B." above. XIV. LXECLITIUN The Parties have pxectited this Agreement on the date set forth in "I. PARTIES AND IPATI;" above. " I I v i ne" Till: 114VINI: CU"PANY. 13Y -1 Executive Vice President. Thq Irvine COn-pdny 42 11y: lrvino- R#.tjll PrOPerLies .1 Th,- Irvin.. IJI- nqj�rt ct-ntej I)tivt-. P.(). Box I Uvich, CA V2660-ool!p At t n: General Cutini;el Adbw 87-138.-4,J "Stewart and Ullman" uck,rilA ULLMAN AS TRUSTEE OF TRUST UNDER WILL OP CHARLES ULLMAN DECEASED (TruL;t A and Trust H) A i BY: � morttia tillman. Trustee RICHARD 1. STEWART AND MARCIA CASS STEWART, AS TRUSICES or STEWART FAMILY TRUST ESTABLISHED JUNE 30, 1977 By: Trustee UK, eje,.4 k�rcjd Cds-O-S—tvwa-ft. TrUSLve Address: M1113IT "A" LEGAL DESCRIPTION 87-138-4J I . Richard 1. Stewart and Charles Ullman: THAT PORTION OF LOTS I AND 2 OF TRACT NO. S361, IN THE CITY OF NEWPORT BEACH. COUNTY OF ORANGE, STATE OF CALIFORNIA AS SHOWN ON MAP FILED IN BOOK 190. PAGES 47 AND 48 OF MISCELLANEOUS MAPS. IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST SOUTHERLY CORNER OF SAID LOT I*. THENCE ALONG THE BOUNDARY LINE OF SAID LOT I THE FOLLOWING TWO COURSES. NORTH 60' 04' 58 - WEST 81.40 FEET AND WESTERLY AL04G A MON-TANGENT CURVE AND ITS WESTERLY PROLONGATION CCHCAVE SOUTHERLY HAVING A RADIUS OF 1803.00 FEET. A RADIAL LINE TO SAID POINT BEARS NORTH 5' 38' 32' EAST THROUGH A CENTRAL ANGLE OF 4' 09' 42' AN ARC DISTANCE OF 130.96 FEET. THENCE NORTH 5* 38' 32" EAST 50.38 FEET*. THENCE SOUTH 84* 211 28" EAST 12.19 FEET 70 A POINT ON THE WESTERLY LINE OF SAID LOT 1; THENCE ALONG SAID WESTERLY LINE NORTH 1* 58% 11" EAST 59.35 FEET TO A POINT ON THE SOUTHERLY LINE OF THE LANEF DESCRIBED AS PARCEL 70046-1 IN DEED TO THE STATE OF CALIFORNIA RECORDED JA4UARY IOj 1979 IN BOOK 12996, PAGE 119 OF OFFICIAL RECORDS OF SAID COUNTY. SAID POINT BEING IN A MON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 1078.00 FEET. A RADIAL LINE TO SAID POINT BEARS SOUTH 2' 30' 28" WEST; THENCE ALONG SAID SOUTHERLY LINE THE FOLLOWING TWO COURSES. EASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 1* 01' 27' AN ARC DISTANCE OF 19.27 FEET AND SOUTH 88* 30' 59' EAST 103.50 FEET TO A POINT ON THE BOUNDARY LINE OF SAID LOT I*. THENCE ALCNG THE BOU40ARY LINE OF SAID LOT I THE FOLLOWING FOUR COURSESj SOUTH 5* 38' 32" WEST 22.59 FEET. SCUTH 44' 33' 09" EAST 39.05 FEET. SOUTH 84' 21' 11" EAST 46.68 FEET AND SCUTH 7* 04' 02' WEST 99.48 FEET TO THE POINT OF BEGINAING. 2. CTace Restnuralit C0--7--1rY: Parrel I Lot 3 of Tract No. 5361 In the city of Newport eeach. county of Orarge. state of California. as per map thereof recorded In book 190. pages .17 and 48 of Miscellaneous Maps In the office of the County Pecorder of Said county and that portion of Lot A of said tract described as follows: Eeginning at the southwesterly ternirus of that certain lot line ccr--�on to said Lots A and 3 Shcwn on said tract ma; as "N 38* 50, 44, E 140.38'," Said southwesterly ternirus being also an angle point In said cc-mn line; thence South 38* !0' 44" West 56.CO feet along the southwesterly prolongation of said c..!rlain lot line to an it,tersection with the southerly line of said Lot �-. thence North 87* 181 31" Ea'%t 56.CO feet alonq said soutlerly lire to the m-st southeasterly corner cf said Lot A; thence North 26'. 5b* 22' West 45.97 feet along the iot lire cc!:—.on tp said Lots A and 3 to the point of beginning. RESERVING UNTO LESSOR. its succe%sorS and assigns. an easement for t�L use. construction, maintenance and repair of a water line and aprurte- nances In, unders over ano along: (a) the easterly 10.00 feet except the southerly 35.00 feet thereof. (b) the northerly 10.00 feet of the southerly 4S.00 feet thereof. -0 87-138-4J ID011hIT "A" CC41't- P4rcel 2 Real preperty situated in the city of Newport Beach. county of Orange. state of Califor'.'ia. described as follows: That portion of block 54 of Irvine's Subdivision as per map thereof recorded in book 1, page sa of Miscellaneous Record Maps in the office of the County Recorder of said county and that portion of Lot A of Tract 5361 as per map thereof recorded In book 190. pages 47 and 48 of Miscellaneous Maps In the office of said County Recorder described as follows: Beginning at the most northwesterly corner of said Lot A. said corner being a point in the southerly right of way line of State Highway 101-A (ORA -60-8) as shown on said tract map. thence North 87' 113' 31* East 190.83 feet along Said southerly right of way line to the northwest corner of that certain easenent described in book 867. page 440 of Official Records,. thence South 2' W 29' East 17.00 feet along the westerly Iiiie of said easement to the southwest corner of said easeDent; thence North 87* 18' 31" East 34.00 feet along the southerly line of sai easement to the southeast corner of said easement*. thence North 2' 41 294 West 17.00 feet along the easterly line of said easement to the northeast Corner of said easement, said northeast corner being in said southerly right of way line of said highway. thence North 871 181 310 East 83.63 feet along said scutherly rig1tt of way line to the most north- easterly corner of said Lot A; thence South 38' 501 44" West 140.38 feet along the lot line conm.on to said Lot A and Lot 3, said Tract No. 5361 to an angle point therein; thence continuing South 38' 501 44" East 56.00 feet to a point In the southerly line of said Lot A which lies South 871 181 311 West 56.00 feet from the southerly corner of said Lot A*. thence South 87* 181 31" West 144.00 feet along said southerly line; th�.nce ,eaving said southerly line South 2* 411 29" East 103.CO feet to an intersection with the northerly plerhead I Ine of that Certain pt Ivate channel as shown on said traco irap; thence South 87' 181 31" West 155.03 feet along said plerhead line to an intersection with the line of mean high tide of Newport Bay, as described In Superior Court Case No. 20436 recorded May 6. 1926 in book 651. page 72 of Official Records and sho.n on said tract map; thence Morth 8* 14' 30" Cast 31.9D feet along said line of mean high tide to Station 11 of said line; thence North 241 561 001 East 80.91 feet cc-linuing along said line of ire.- I�Igh tide to the southwesterly corner of said Lot A; thence continuing North 24' C�61 00" East 165.91 feet along said line of mean high tide being also the northwesterly line of said Lot A to the point of beginning. RESERVING UNTO LESSOR, its successors and assigns. an easerent for the use, construction. maintenance and repair of a water line and appurte- nances in. under. over and along a strip of lard IO.CO feet in width lying between the northwesterly and Southeasterly lines of said Parcel 2. the southerly line of which Is parallel with and distant northerly 3S.CO feet freasured at right angles frc-% said southerly line of Lot A. matim, "B" WMN PAICkI. LEGAL DESCRIPTION 87-138 4J THAT PORTION OF LOT 2 OF TRACT NO. 5361. IN THE CITY OF NEWPOV BEACH, COUNTY OF ORANGE. STATE OF CALIFORNIA, AS SHOWN ON MAP FILED IN BOOK 190. PAGES 47 AND 48 AND MISCELLANEOUS MAPS. IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY DESCRIBED AS FOLLOWS: BEGINNING AT SOUTHWESTERLY CORNER OF SAID LOT 2; THENCE ALONG THE SOUTHERLY LINE OF SAID LOT 2 THE FOLLOWING TWO COURSES. NORTH 87' IS- 31 - EAST 186.90 FEET AND EASTERLY ALONG A TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 1803.00 FEET THROUGH A CENTRAL ANGLE OF 4' 10' 19" AN ARC DISTANCF OF 131.28 FEET; THENCE NORTH 5* 381 32" EAST 50.38 FEET: THENCE SOUTH 84" 21' 28' EAST 12.19 FEET TO A POINT ON THE EASTERLY LINE OF SAID LOT 2. THENCE ALONG SAID EASTERLY LINE NORTH I' Sal 110 EAST 59.35 FEET TO A POINT ON THE SOUTHERLY LINE OF THE LA40 DESCRIBED AS PARCEL 70046-1 IN DEED TO THE STATE OF CALIFORNIA RECORDED JANUARY 10. 1979 IN BOOK 12996, PAGE 119 OF OFFICIAL RECORDS OF SAID COUNTY, $All POINT BEING IN A MON-TANGENT CURVE CONCAVE NORTHERLY HAVING A k4OIUS OF 1078.00 FEET. A RAWAL LINE TO SAID POINT BEARS SOUTH 29 301 2911 WEST; THENCE WESTERLY ALONG SAID CURVE THROUGH A CENTPAL ANGLE OF 12' 081 21* AN ARC DISTANCE OF 228.39 FEET TO A POINT ON THE NnRTHERLY LINE OF SAID LOT 2. BEING ALSO THE SOUTHERLY LINE OF CALIFORNIA STATE HIGHWAY ICIA. ICO.00 FEET WIDE: THENCE ALONG THE BOUNDARY LINE OF SAID LOT 2 THE FOLLOWING -#W0 COURSES, SOUTH 87' 18' 31- WEST 118.68 FEET AND SOUTH 2- 41' 29" EAST 147.CO FEET TO THE POINT OF BEGINNING. fE 8 3 8'- 4J MIUSIT "C" cu'vm mcu. LEGAL DESCRIPTION THAT PORTION OF LOT Co IN THE CITY OF NEWPORT BEACH. COUNTY OF ORANGE. STATE OF CALIFORNIA. AS SHOWN ON KAP FILED IN BOOK 16. PAGE 10. OF PARCEL KAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST EASTERLY CORNER OF SAID LOT C; THENCE ALONG T�E COUNDARY LINE OF SAID LOT C THE FOLLOWING THREE COURSES NORTH 84- 21' 119 WEST 122.02 FEET. NORTH 44- 33' 09- WEST 39.05 FEET AND WORTH 5- 38' 324 EAST 22.59 FEET TO A POINT ON THE SOUTHERLY LINE OF THE LAND DESCRIBED AS PARCEL 70046-1 IN DEED TO THE STATE OF CALIFORNIA RECORDED JANUARY 10. 1979 IN BOOK 12996, PAGE 119 OF OFFICIAL RECORDS OF SAID COUNTY. THENCE ALONG SAID SOUTHERLY LINE THE FOLLOWING THREE COURSES. SOUTH 88- 3Q# 59- EAST 56.66 FEET. EASTERLY ALONG A TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 938.00 FEET THROUGH A CENTRAL ANGLE OF 2* 43' 03* AN ARC DISTANCE OF 44.49 FEET AND SOUTH 59* 15' 33* EAST 28.93 FEET TO A POINT ON THE SOUTHWESTERLY LINE OF BAYSIDE DRIVE 76.00 FEET WIDE. BEING ALSO A POINT ON THE NORTHEASTERLY LINE OF SAID LOT C; THENCE ALONG SAID NORTHEASTERLY LINE, SOUTH 25* 14' 00' EAST 48.48 FEET TO THE POINT OF BEGINNING. IN Ix -, r=_,4 , _, , ,,���� �« �- - �> ' '" � � -= � `,� - r "i- �- '.`� ` r �: L 4 s �,. !` 7 �1717 39��--A pf I 87;2.138AU CONSENT AND AGREEMENT FOR SUBORDINATION The undersigned, The Prudentidl Insurance Company of America, a New Jersey corporation ("Prudential"), as beneficiary under that certain deed of trust recorded September 7. 1983 as Instrument Number 03-391352 of OhO Official records of orange County. California (the "Deed of Trust")- wt)ich Deed of Trust creates a lien or charge on a portion of the "Easement Area" desctibed in the foregoing Reciprocal Grant Of Va:;ements, hereby consents to the terms and conditions of the foregoing Reciprocal Grant of casenents and to the execution and recordation of said instrument. Notwithstanding the PfiO' recordation of the Deed of Trust, Prudential hereby further a9tees that the Deed of Trust is ubordindLe and subject to the Reciprocal Grant oi easements. :ated: _;k /' / 1. 198V The Prudential insurance Ccmpary of America. a New jersey corp3ration By:_ Its.-_ -7/ By. ILS: STATE OF CALII'ORWA . . ... ; : - " ) 5�; COUNTY OF bPA*GE tile undersigned. a 1986. bef.-,te me, On this day of 'r -s -aid State. persondily appedred Notary PubliF-Tin and fo and personally known to me the 1�j p�6ved to mZ-on the basifi-Of-sitisfactOry evidence) to be person(s) who executed the Within instrument as N and on behalf of The Prua-enC-1al insurance --- A oration, the corporation company o(-ki�erc,-,j__New Jersey Corp therein named. and ackncwledged to me that . said corporation executed the within is-Lrument pu r suant. to its By -Laws or a resolution of its Board of Directors. WITNrSS my hand and official sea)- Pum.1c P7PATR1'-,1A SPAIIHES NOT&VT PUDA-C - CALWOMA WS ANGrit, CWNTV -1yr n t c�d 1 .4 " J'U *I atim ,P,es M 30 M11 SLAL (d) PURCHASE MONEY NOTE. The balance of the Purchase Price shalt be paid by a promissory note (the "Note") from Buyer to Setter, or order, in the amount of Three Hundred Seventy -Five Thousand Dollars ($375,000). The Note shall be in form and substance as attached hereto as Exhibit E and by this reference incorporated herein. The Note shalt be secured by a first deed of trust (the "Purchase Money Deed of Trust") on the fee interest in the Land, which Purchase Money Deed of Trust shalt be in form and substance as attached hereto as Exhibit F and by this reference incorporated herein. The Note shall be executed and delivered to Escrow by Buyer for delivery to Setter at the Closing. 5. COSTS AW PRORATIONS. (a) CLOSING COSTS. Buyer and Setter shall each pay one-half (1/2) of the fees and charges of Escrow Holder. Setter shalt bear the cost of all documentary transfer taxes, and the premium for the Title Policy. buyer snaLL pay tne entire CUSL U1, 011U S110— ";it= "Lender's Policy" (as defined below) and any extended coverage, ALTA owner's or other title policy or endorsements in excess of the standard coverage owner's title policy to be provided by Setter, together w;- any [and surveys required in connection therewith. Buyer's failure or inability to obtain any such item, icy or endorsement by the Closing Date shalt not be a condition precedent to or result in any delay of Closing. Buyer shall also deposit in Escrow, for delivery to Setter at Closing, a loan fee in an amount equal to one percent 0%) of the original principal amount of the Note as set forth in Section 4 (e) above. Buyer and Setter shall each bear their own respective Legal, accounting and other consultant fees, charges and costs, if any, incurred in connection with this transaction. ALL recording costs or fees and all other costs or expenses not otherwise provided for in this Agreement shalt be apportioned or allocated by Escrow Holder between Buyer and Setter in the manner customary in Orange County. (b) TAXES AND ASSESSMENTS. 'Escrow Holder shall calculate the proration of aLL current real property taxes and all general and special bonds and assessments on the Land between Buyer and Setter as of the Closing Date based upon the Latest available tax information, using customary escrow procedures, without N81-143164.Vl 01/18/93 PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS (With Purchase Money Mortgage) (333 Bayside Drive) THIS AGREEMENT ("Agreement") is entered as of 007 1993, by and between THE IRVINE COWANY, a Michigan corporation ("Setter"), and MARVIN 0. BURTON, AS TRUSTEE OF THE KkRVIN 0. BURTON FAMILY TRUST DATED 14AY 25, 1982 ("Buyer"). RECITALS A. Setter is the fee owner of those certain parcels of Land situated in the County of Orange, State of California, as more particularly described on EXHIBIT A attached hereto and by this reference incorporated herein (the "Lan&); B. The Land is currently subject to a ground Lease dated September 21, 1967, as amended from time to time prior to the date hereof between Setter, as Lessor, and Marvin 0. Burton, an individual, as Lessee (the "Ground Lessee") (the "Ground Leasell); C. Buyer desires to purchase Seller's fee interest in the Land, and Setter has agreed to sell and convey the Land to Buyer, on the terms and conditions set forth below; W)W, THEREFORE, the parties hereby agree as follows: 1. PURCHASE AND SALE. Upon aLL of the terms and conditions contained herein, Buyer hereby agrees to purchase the Land from Setter and Setter agrees to sell the Land to Buyer. 2. ESCROW. Promptly afier this Agreement has been signed and delivered by and between the parties hereto, Setter shall open an escrow ("Escrow") with Chicago Title Insurance Company, 825 No. Broadway, Santa Ana, California 92701 ("Escrow Holder"), by delivering a fully executed copy of this Agreement to Escrow Holder. The parties agree to be bound by the standard escrow General Provisions attached hereto as EXHIBIT B, and shalt execute and deliver to Escrow Holder such other reasonable or customary supplemental escrow instructions or other instruments as may be required by Escrow Holder or the parties hereto in order to T consummate the sale described herein. The attached EXHIBIT 8 and/or the printed portions of any such instructions shalt not amend or supersede any provision of this Agreement. 3. CLOSING OF ESCROW. Subject to the satisfaction of aLL conditions precedent set forth herein, the closing ("Closing") of the purchase and sale of the Land shalt take place through Escrow on or before FebruaryJy-' 1993 ' as such date may be extended pursuant to the provisions of Section 6(i) below to a da, " no Later-'Yan February" _�> 1993, or such other date as the parties may mutually agree in writing (the "Closing Date"). Buyer and Setter hereby acknowledge and agree that the Closing must occur concurrently with the closing under that certain Purchase Agreement and Escrow Instructions of even date herewith by and between Setter, as Setter, and 341 Bayside Drive, Inc., a California corporation, as buyer (the "Related Purchase Agreement") r with respect to the real property coamnLy known as 341 Bayside. 4. PURCHASE PRICE. The purchase price for the Land (the "Purchase Price") shall be Six Hundred Seventy - Five Thousand Dollars (S675,000). The Purchase Price shall be payable through Escrow as follows: (a) INITIAL DEPOSIT. Concurrently with Buyer's execution and delivery of this Agreement, Buyer shall deliver to Setter the sum of Five Thousand Dollars (S5,0100), which sum shalt be held by Setter and applied towards the Purchase Price upon Closing, subject, however, to being disbursed to Setter as Liquidated damages as provided in Section 9(b) below or returned to Buyer as provided in Sections 9 (a) or 17 below. No interest shalt accrue or be paid to Buyer with respect to said deposit. (b) SECOM DEPOSIT. On or before the "Approval Date" (as that term is defined in Section 6(b) below), Buyer shall deliver to Setter the sum of Fifteen Thousand Two Hundred Fifty Thousand Dollars ($15,250), which sum shalt be held by Setter and applied towards the Purchase Price upon Closing, subject, however, to being disbursed to Setter as liquidated damages as provided in Section 9(b) below or returned to Buyer as provided in Sections 9 (a) or 17 below. No interest shalt accrue or be paid to Buyer with respect to said deposit. The initial deposit, and the second deposit when made, shall hereafter be referred to as the "Deposits". (c) CASH AT CLOSING. The additional sun of Two Hundred Seventy -Nine Thousand Seven Hundred Fifty Dollars ($279,750), together with any additional amounts and costs chargeable to Buyer as provided below, shalt be deposited by Buyer into Escrow not Less than twenty-four (24) hours prior to the Closing Date and shalt be disbursed by Escrow Holder to Setter upon the Closing, Less the costs and prorations'chargeabLe to Setter under Section 5 below. (d) PURCHASE MONEY NOTE. The balance of the Purchase Price shalt be paid by a promissory note (the "Note") from Buyer to Setter, or order, in the amount of Three Hundred Seventy -Five Thousand Dollars ($375,000). The Note shall be in form and substance as attached hereto as Exhibit E and by this reference incorporated herein. The Note shalt be secured by a first deed of trust (the "Purchase Money Deed of Trust") on the fee interest in the Land, which Purchase Money Deed of Trust shalt be in form and substance as attached hereto as Exhibit F and by this reference incorporated herein. The Note shall be executed and delivered to Escrow by Buyer for delivery to Setter at the Closing. 5. COSTS AW PRORATIONS. (a) CLOSING COSTS. Buyer and Setter shall each pay one-half (1/2) of the fees and charges of Escrow Holder. Setter shalt bear the cost of all documentary transfer taxes, and the premium for the Title Policy. buyer snaLL pay tne entire CUSL U1, 011U S110— ";it= "Lender's Policy" (as defined below) and any extended coverage, ALTA owner's or other title policy or endorsements in excess of the standard coverage owner's title policy to be provided by Setter, together w;- any [and surveys required in connection therewith. Buyer's failure or inability to obtain any such item, icy or endorsement by the Closing Date shalt not be a condition precedent to or result in any delay of Closing. Buyer shall also deposit in Escrow, for delivery to Setter at Closing, a loan fee in an amount equal to one percent 0%) of the original principal amount of the Note as set forth in Section 4 (e) above. Buyer and Setter shall each bear their own respective Legal, accounting and other consultant fees, charges and costs, if any, incurred in connection with this transaction. ALL recording costs or fees and all other costs or expenses not otherwise provided for in this Agreement shalt be apportioned or allocated by Escrow Holder between Buyer and Setter in the manner customary in Orange County. (b) TAXES AND ASSESSMENTS. 'Escrow Holder shall calculate the proration of aLL current real property taxes and all general and special bonds and assessments on the Land between Buyer and Setter as of the Closing Date based upon the Latest available tax information, using customary escrow procedures, without N81-143164.Vl 01/18/93 regard to any reassessments or subsequent changes. The foregoing computation of proration of taxes by Escrow Holder is for the convenience of the parties only, and Escrow Holder shall not be concerned with charging the parties for such prorations of any such taxes and assessments through Escrow since the Ground Lessee is required to pay aLt such taxes under the terms of the Ground Lease. Any real property taxes Levied under the Supplemental Tax Roll as a result of this sale, whether prior to the normal assessment date or otherwise, shalt be paid solely by Buyer. Escrow Holder shall prorate and charge Buyer for at( rental, common area maintenance charges, if any, and other sums due and unpaid to Setter under the Ground Lease as of the Closing Date, and Setter shall provide such information as Escrow Holder may request to enable Escrow Holder to calculate such proration. The parties agree that if any rental sum under the Ground Lease is calculated based on a percentage of sates, revenue or income from the [eased promises and if such rental sun cannot readily be determined for the then - current reporting period as of the Closing Date, then such sum shall be deemed unchanged from the last prior reporting period under the Ground Lease and Setter shaLL instruct Escrow Holder as to the amount thereof. 6. CONDITIONS TO CLOSING. The respective obligations of Buyer and Setter to complete the purchase and sale of the Land are subject to satisfaction of the conditions precedent set forth below for their respective benefit at or prior to Closing. (a) TRANSFER AND POSSESSION. Setter shall deliver through Escrow an executed and recordable Grant Deedlin the form attached hereto as EXHIBIT C (the "Grant Deed") sufficient to convey insurable title to Buyer, subject only to the matters described in Section 6(c). Buyer shall deliver through Escrow the executed Note, together with the executed, acknowledged and recordable Purchase Money Deed of Trust sufficient to convey to Setter an insurable first priority Lien on the fee estate in the Land subject only to the matters described in Section 6(c). When all required funds and instruments have been deposited into Escrow by the appropriate parties, and when all other conditions to Closing have been fulfitLed, Escrow Holder shalt cause to be recorded the Declaration of Special Land Use Restrictions and Mortgage Lien (the "Special Restrictions") in the form attached,hereto as EXHIBIT D and, immediately thereafter, the Grant Deed, and immediately thereafter, the Purchase Money Deed of Trust. - k - -1 '�"' (b) TITLE APPROVAL. Bu r�eha'ott� ob--�tain4om"E's'crow -H'o(der a preliminary title report covering the Land (the "Title Report"). 8 er shalt take title to the Land pursuant to this Agreement subject to matters described in Section 6(c), a, to all other matters of record shown on said Title Report or listed as exceptions to coverage there except such matters as Buyer shall expressly disapprove by giving written notice to Setter on or befor +fteeft.-busimess (15) days fo�iewimg Buyer's reeeipt ef the Titie Repept, but in no Q --9R% lat9p thaA %hipty (IQ) AaVS fejLowiRg %he date herso (the "ApprovaL Date"), which notice specify reasonable grounds for each such matter so disapproved. Setter shall have ten business (10 ) d :yh:LL from its receipt of such notice of disapproval within which to notify Buyer in writing as to whether it shall cause the removal of such disapproved exception to coverage under the Title Policy on or before the Closing Date. Setter shalt have no obligation to remove any such exception to coverage under the Title Policy except, if applicable, the Lien of the Existing Deed of Trust (as defined in Section 6(d) below) which shalt be removed by Setter concurrently with the Closing. The failure by Setter to give Buyer written notice of its intention to remove any exception to coverage under the Title Policy disapproved by Buyer in .the manner herein provided shalt be deemed an election by Setter not to remove such exception. in the event that Setter does not so notify Buyer of its election to cause the removal of such disapproved exception to coverage under the Title Policy, Buyer may terminate this Agreement, pursuant to Section 9(a) below, by written notice to Setter and Escrow Holder within ten (10) days thereafter; otherwise, Buyer shall be deemed to have waived its disapproval of such exception to coverage under the Title Policy and approved same. Should Buyer fail to disapprove any matter affecting the condition of title or constituting an exception to coverage under the Title Policy by the Approval Date as set forth above, such matter and/or exception shaLL be deemed approved by Buyer. (c) TITLE CONDITION AT CLOSING. Setter shatt cause Escrow Holder to deliver or commit to deliver to Buyer a standard coverage CLTA Owner's Policy of Title Insurance (the "Title Policy") dated as of the Closing, insuring Buyer in an amount equal to the Purchase Price, and showing title to the Land vested in Buyer subject only to: 0) Real property taxes and all unpaid general and special bonds or assessments; 00 The Special Restrictions to be recorded immediately prior to the Grant Deed; ON) The Ground Lease (it being understood and agreed that it is the intent of Buyer and Setter, as is more fully set forth in the Special Restrictions that the purchase of the fee estate in the Land by Buyer shatt in no event result in a merger of the fee estate in the Land and the leasehoLd estates created by the Ground Lease without the consent of Buyer and the beneficiary of each deed of trust encumbering said fee estate and/or said Leasehold estate from time to time); 00 Any and aLt oil, oil rights, minerals, minerat rights, natural gas rights, and other hydrocarbons by whatsoever name known, geothermal steam, any other material resources and all products derived from any of the foregoing, that may be within or under the Land, together with the perpetual right of drilling, mining, exploring and operating therefor and storing in and removing the same from the Land or any other Land, including the right to whipstock or directionatty driLL and mine from Lands other than those conveyed hereby, oil or gas wells, tunnels and shafts into, through or across the subsurface of the Land, and to bottom such whipstocked or directionaiLy drilled welts, tunnels and shafts under and beneath or beyond the exterior limits thereof, and to redriLt, retunnel, equip, maintain, repair, deepen and operate any such welts or mines; without, however, the right to drill, mine, store, explore and operate through the surface or the upper 500 feet of the subsurface of the Land; (Y) Any and all water, rights or interests therein, no matter how acquired by Setter, and owned or used by Setter in connection with or with respect to the Land, together with the right and power to explore, drill, redriLL, remove and store the same trom the Land or to divert or otherwise utilize such water, rights or interests on any other property owned or leased by Setter, whether such water rights shall be riparian, overlying, appropriative, Littoral, percolating, prescriptive, adjudicated, statutory or contractual; but without, however, any right to enter upon the surface of the Land in the exercise of such rights; NO NonexcLusive easements in gross on, over or across the Land within areas designated or shown on any recorded parcel or tract map of the Land for the following existing or proposed purposes: (i) the installation, emplacement and maintenance of electric, gas, telephone, cable television, water, sanitary sewer Lines, drainage facilities or any other utilities, together with the right to enter upon the Land (without unreasonable interfering with Buyer's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such Lines or facilities; provided that such utilities shalt be installed underground to the maximum extent practicable and the Lard and the improvements N81-143164.Vl upon it shall be restored and repaired to the condition prior to such installation at the cost and expense of the exerciser of such easements; and (ij) ingress and egress over any public or private rights of way, bicycle and pedestrian trails or other specific designated use areas, if any; (vii) NonexcLusive easements in gross on, over, under or across the Land within 15 feet from att property Lines of the Land for the installation, emplacement, repair, replacement, operation and maintenance of electric, gas, telephone, cable television, water, sanitary sewer �fnes, drainage facilities or any other utilities (provided, that such utilities shall be installed underground to the maximum extent practicable so Long as such installation does not unreasonably interfere with the use of the Land and the Land and the improvements upon it shall be restored and repaired to the condition prior to such installation at the cost and expense of the exerciser of such easements) and monument, directional or other signs; (viii) NonexcLusive easements in gross on, over or across the Land within areas which are presentLy used by the public or adjoining landowners as common streets, passage ways, driveways, entrance ways or access ways which shall not unreasonably interfere with Buyer's reasonabLe use and enjoyment thereof, together with the right to enter upon the Land (without unreasonably interfering with Buyer's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such streets or ways; provided, no adjoining Landowner shall have any obligation to service, maintain, repair, reconstruct, relocate or replace such streets or ways or to pay the costs thereof unless specifically agreed to in writing by such Landowner; Ox) Any and all Littoral rights with respect to the Waterway (as hereinafter defined). By its acceptance of the Grant Deed Buyer and its successors and assigns hereby expressly and futty relinquish and release unto Seller any and aLL littorat rights that they may now or hereafter claim with respect to the Waterway, including, without Limitation, any such right, title or interest claimed, asserted on resulting from the fact that the Land abuts the Waterway and Buyer and its successors and assigns fully and unconditionally waive any and all rights they may now or hereafter have or assert to enjoy, invoke or use the Waterway or any ittoraL rights relating thereto and acknowledge and agree that by their acceptance of the Grant Deed Buyer and its successors and assigns are estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. By its acceptance of the Grant Deed Buyer acknowledges and agrees that Seller and its successors and assigns shalt be entitled to own, occupy, use and operate the Waterway in the manner that Setter, or such successors and assigns, elect in their sole discretion and Buyer and its successors and assigns shall not at any time in the future assert any right, title or interest with respect to the Waterway or challenge, object to or interfere with the ownership, occupancy. use or operation thereof; W Nonexclusive easements in gross on, over or across the Land for the installation, emplacement, repair, replacement operation and maintenance of the bulkhead adjacent to the Waterway, together with all systems, tie rods, concrete paneLs,,rockfiLL, tie -back anchor blocks, railings and any other components of such bulkhead or relating theretoi together with the right to enter upon the Land in connection therewith. (xi) The printed exceptions contained in the Title Policy; (xii) ALL recorded covenants, conditions and restrictions and other matters shown on the Title Report that are set forth above or that have been approved or deemed approved by Buyer pursuant to the express provisions of Section 6(b); (xiii) ALL other matters affecting title to the Land approved in writing or deemed approved by Buyer pursuant to the express provisions of Section 6(b), which approval shall not unreasonably be withheld, delayed or conditioned. (d) EXISTIIIG DEED OF TRUST. The Land may currently be encumbered by a blanket deed of trust to Ticor Title Insurance Company of California, as Trustee, for the benefit of The Prudential Insurance Company of America, which deed of trust was recorded September 7, 1983 as Instrument No. 83-391528 in the Official Records of Orange County, California (the "Existing Deed of Trust"). If so, Escrow Holder is hereby instructed to cause the Existing Deed of Trust to be reconveyed as to (and only as to) the Land at the expense of Setter and concurrently with the Closing. (a) LENDER'S POLICY. Buyer shalt cause Escrow Holder to deliver or commit to deliver to Setter an ALTA Lender's Policy of Title Insurance (the "Lender's Policy") dated as of the Closing, insuring the first Lien priority of the Purchase Money Deed of Trust in favor of Seller as to the fee interest in the Land. The Lender's Policy shall have a Liability amount equal to the principal amount of the Note and shall show title to the Lard vested in Buyer subject only to the matters set forth in Section 6(c) above. M CREDIT REVI . Setter shall have until fifteen (15) days prior to the Closing Date (such date being referred to as the "Credit Review Date") to review and approve the creditworthiness of Buyer, which determination shall be made by Setter in its sole and absolute discretion. Buyer agrees to cooperate fuLLy with Setter in providing, in a prompt and thorough manner, such financial statements of Buyer and other information (cotLectiveLy the "Financial information") as Seller or its agents may reasonably request to facilitate such financial review. The foregoing conditions shaL( be deemed satisfied unless Seller notifies Buyer and Escrow Holder in writing, on or before the Credit Review Date, of Setter's election to terminate this Agreement for failure of either of said conditions pursuant to the provisions of Section 9(a). (g) FTUNCIAL REVIEW. Setter shatt also make available for Buyer's inspection the books and records of Seller pertainine to Th -e LaM. nnt lacp than ten rin) rf=.. ­inr tm tho AnnrnvAl Date. Rover shall be deemed to have approved all such matters unless it has delivered to Setter and Escrow Holder written notice of disapproval on or before the Approval Date. Setter hereby represents and warrants to Buyer that Seller has not concealed or knowingly failed to make available to Buyer any of Seller's books and records relating to the Land or the Ground Lease. Should Buyer fail to disapprove any matter by the Approval Date as set forth above, such matter shall be deemed approved. Should Buyer timely deliver a written notice of disapproval as aforesaid, then unless otherwise agreed by both parties, the Agreement shall terminate pursuant to Section 9(a) below. (h) PAST DUE RENT. Prior to the Closing Date the Ground Lessee shall have paid to Seller all past due rent and other charges owing to Setter under the Ground Lease. 0) MARINA PERMITS. Setter shall have received assurances satisfactory to Setter that the City of Newport Beach, and any other applicable governmental authority, consents to the continued ownership, use and NB1-143164.V1 3 01/18/93 operation by Seiler of the marina adjacent to the Land, and that the City of Newport Beach, or such other applicable governmental authority, will not deny the issuance of a permit for such ownership, use and operation as a result of the consummation of the sale of the Land as set forth in this Agreement. Setter shalt use its best efforts to obtain such assurances at least thirty (30) days prior to the Closing Date and if such assurances are not received on or before 30 days prior to scheduled Closing Date the Closing Date shalt be extended to the date which is thirty (30) days after setter's receipt of such assurances; provided that in no event shalt the Closing Date be extended beyond February,,L, 1993. The condition set forth in this Section 60) is solely for the benefit of Setter. 7. NO ASSIGNMENT BY BUYER PERMITTED. Buyer may not assign its interest under this Agreement without the express prior written consent of Setter, which consent may be given or withheld by Setter in its soLe discretion, and any such attempted assignment made in violation of this provision shalt be null and void. Notwithstanding the foregoing, Setter agrees not to withhold its consent to an assignment by Buyer of its rights hereunder to the existing Ground Lessee or any existing subLessees, a corporation owned or controlled by the Ground Lessee or any existing subLessee or other entities (such as a general or Limited partnership) owned by the Ground Lessee or such subtessees or owned by an entity in which the ownership is more than fifty percent (50%) in Buyer, provided that any such entity agrees to assume all obligations of Buyer under th i s Agreement and that any such ass i gnment, or the purchase of the Land by such ass i gnee, does not and w i L not result in a merger of the fee estate in the Land and the LeasehoLd estate of Buyer created by the Ground Lease and/or effect a termination of the Ground Lease. Notwithstanding Setter's approval of such assignment by Buyer, Buyer shalt remain obligated under this Agreement unless Setter determines, in its sole but reasonable discretion, that the financial ability, business experience and reputation of the proposed assignee is equal to or greater than the financial ability of Buyer on the date of this Agreement. For purposes of this Section, the term "control" shalt mean management of the day-to-day operations of such entity and, in the case of a corporation, ownership of at Least fifty-one percent (51%) of all classes of outstanding voting stock of such corporation, and, in the case of a partnership, ownership as a general partner of at Least fifty-one percent (51%) of the interest in profits and Losses and cash flow of such partnership. Promptly after any such assignment, Setter shalt be furnished with copies of the final executed assignment documents. 8. TIME OF THE ESSENCE AND ESCROW CANCELLATION. Time is of the essence of every provision of this Agreement in which time is an element. Failure by any party to perform any obligation within the time and on the terms and conditions required hereunder shalt discharge the other party's duties and obligations to perform hereunder upon written notice or demand from the other party. However, if Escrow is not in condition to close by the agreed Closing Date, Escrow Holder shalt continue to comply with the instructions contained herein until a written demand has been made by a party entitled to do so for the cancellation of Escrow. Escrow Holder shalt notify all other parties to this Agreement of any such demand, and shalt immediately cancel Escrow without any further instructions from any party. TERMINATION RIGHTS. The parties shalt have the right to terminate this Agreement as follows: (a) FAILURE OF CONDITIONS. If Setter fails to perform any covenant when due hereunder, or if Setter is not in a position by the Closing Date to convey title to the Land subject only to the matters described in Section 6(c) above, and Buyer is unwitting to accept such title to the Land as Setter may be able to convey without any reduction in the Purchase Price, then Buyer may, in addition to any rights or remedies available to Buyer at Law, terminate this Agreement and the Related Purchase Agreement and the Escrow by giving written notice thereof to Seiler and Escrow Holder, or Buyer may waive disapproval and acquire the Land and the land covered by the Related Purchase Agreement in accordance with the terms hereof and of the Related Purchase Agreement, but in no event may Buyer unilaterally extend the Closing Date beyond the date provided in Section 3. In the event of any such termination, or if this Agreement and the Related Purchase Agreement are duty terminated pursuant to Sections 6(f) or 6(g) above, Setter and/or Escrow Holder shalt promptly return to Buyer all sums theretofore delivered by Buyer pursuant to Section 4 above and under the Related Purchase Agreement and held by either of them. Additionally, Escrow Holder shalt return all instruments to the parties who deposited same, and all title and escrow cancellation charges shalt be divided equalLy between the parties (except that Setter shalt pay all of such cancellation charges if the termination is due to Setter's defautt). (b) SELLER'S RIGHTAIQUIDATED DAMAGES. If Buyer fails to deposit any required sums by the prescribed time or in the prescribed manner hereunder or under the Related Purchase Agreement, or to perform any other covenant when due hereunder or under the Related Purchase Agreement, or if Buyer commits any other breach of this Agreement or of the Related Purchase Agreement, or if Escrow fails to close due to any reason not described in Section 9(a) above or Section 17 below or of the Related Purchase Agreement, then Setter, at its option, may terminate' this Agreement and the Related Purchase Agreement and Escrow by giving written demand to Buyer and Escrow Holder. Thereupon Escrow shalt be canceled, all instruments shalt be returned to the respective parties who deposited same, and Buyer shalt pay all title and escrow cancellation charges and fees. IN ADDITION, THE PARTIES AGREE THAT SELLER SHALL HAVE SUSTAINED DAMAGES RESULTING FROM 13UYERIS FAILURE TO PERFORM, WHICH DAMAGES ARE DIFFICULT AND IMPRACTICABLE TO ASCERTAIN. ACCORDINGLY, SELLER SHALL BE ENTITLED TO RETAIN THE ENTIRE DEPOSITS SPECIFIED IN SECTIONS 4(a) AND 4(b) ABOVE AND UNDER THE RELATED PURCHASE AGREEMENT AS A LIQUIDATED AND REASONABLE ESTIMATE OF SUCH DAMAGES FOR BUYER'S BREACH OR FAILURE TO COMPLETE THE PURCHASE OF THE LAND AS 0 "EREINABOVE, PURSUANT TO CALIFORNIA CIVIL CODE SECTIONS 1671 AND 167-7. IN SUCH EVENT, ESCROW H0LDERPRg:RERY I RREVOCABLY INSTRUCTED BY BUYER AND SELLER TO DISBURSE IMMEDIATELY TO SELLER, UPON DEMAND OF SELL.#"'ALONE, SUCH PORTION, IF ANY, OF THE DEPOSITS THAT HAVE BEEN DELIVERED TO AND ARE BEING HELD BY ESCROW JNS(DER. "_A� __ yer's SeLLer's VaLs Initialls 10. FURTHER DOCUMENTS AND ACTS. Each of the parties hereto agrees to cooperate in good faith with each other, and to execute and deliver such further documents and perform such other acts as may be reasonably necessary or appropriate to consummate and carry into effect the transactions contemplated under this Agreement. 11. BUYERIS ACKNOWLEDGMENTS. Buyer hereby acknowledges and agrees to each of the following provisions: (a) RECEIPT OF DOCUMENTS. Buyer has received and read, understands and agrees to be bound by the terms and conditions of the Ground Lease and the Special Restrictions. (b) PRIOR INVESTIGATIONS. Buyer acknowledges that they are or are affiliated with the Ground Lessees of the Land pursuant to the Ground Lease and the improvements on the Land were constructed by the Ground Lessees, or its predecessor -in -interest, and the Ground Lessee is in possession of and operates said improvements. Accordingly, Buyer agrees that it has fully inspected the Land, is familiar with the terms N81-143164.Vl 4 01/18/93 and conditions of the Ground Lease and the condition of the improvements, and that it is purchasing the Land on an "as is" basis. Buyer acknowledges that neither Setter, nor any officer, employee or agent of Setter, has made any representations or warranties whatsoever with respect to the Land, its condition, its suitability for any use, or any other matter. Buyer agrees that no patent or Latent condition affecting the Land or any improvement thereon, whether or not known or discoverable or hereafter discovered, shatL give rise to any right of damages, rescission or other remedy against Setter. The provisions of this Section 11 are intended to survive the Closing in accordance with Section 13 below. 12. NOW -FOREIGN STATUS OF SELLER. In accordance with Section 1445 of the Internal Revenue Code, SeLLer hereby represents, warrants and certifies to Buyer, under penaLty of perjury, that Setter is not now, and at the Closing will not be, a "foreign person" (that is, a foreign corporation, foreign partnership, foreign trust or foreign estate, as those terms are defined in the Internal. Revenue Code and regultations promuLgateed thereunder); that Setter's tax identification number is 13-3177751; and that Buyer need not withhold tax at the Closing as a result of this transfer. 13. SLIRVIVABILITY OF COVENANTS. ALL covenants of Buyer or Setter which are expressLy intended hereunder to be performed in whole or in part after the Closing, and aLL representations, warranties and indemnities by either party to the other, shalt survive the Closing and be binding upon and inure to the benefit of the respective parties hereto and their respective heirs, successors and permitted assigns. Any agreements, understandings, warranties or representations not expressly contained herein shalt in no way bind either Setter or Buyer. Setter and Buyer each expressly waives any right of rescission and aLl, claims for damages by reason of any statement, representation, warranty, promise and/or agreement, if any, not contained in or attached to this Agreement. 14. BROKERS' COMMISSIONS. Each of the parties represents to the other that no brokerage commission, finder's fee or other similar compensation of any kind is due or owing to any person or entity other than CS CommrciaL in connection with the transactions covered by this Agreement. Setter shall be responsible to pay CS Commercial any fees to which it may be entitled in connection with the transactions covered by this Agreement since CB Commercial has represented Setter in connection with such transactions. Each party agrees to and does hereby indemnify and hold the other harmless from and against any and aLL costs, Liabilities, Losses, damages, claims, causes of action or proceedings which may result from any broker, agent, finder, or similar person, Licensed or otherwise, claiming through, under or by reason of the conduct of the indemnifying party in connection with the transactions covered by this Agreement. 15. WAIVER, CONSENT AND REMEDIES. Each provision of this Agreement to be performed by Buyer and/or Setter shall be deemed both a covenant and a condition and shalt be a material consideration for the other party's performance hereunder, and any breach thereof by either party shall be deemed a material default hereunder by such party. Either party may specifically and expressly waive in writing any portion of this Agreement or any breach thereof, but no such waiver shall constitute a further or continuing waiver of any preceding or succeeding breach of the same or any other provision. A waiving party may at any time thereafter require further compliance by the other party with any breach or provision so waived. The consent by one party to any act by the other for which such consent was required shalt not be deemed to imply consent or waiver of the necessity of obtaining such consent for the same or any similar acts in the future. No waiver or consent shalt be implied from silence or any failure of a party to act, except as otherwise specified in this Agreement. ALI rights, remedies, undertakings, obligations, options, covenants, conditions and agreements contained in this Agreement shalt be cumulative and no one of them shall be exclusive of any other. Except as otherwise specified herein, either party may pursue any one or more of its rights, options or remedies hereunder or may seek damages or specific performance in the event of the other party's breach hereunder, or may pursue any other remedy at Law or equity, whether or not stated in this Agreement. 16. ATTORNEYSt FEES. In the event of any declaratory or other Legal or equitable action instituted between Setter, Buyer and/or Escrow Holder in connection with this Agreement, then as between Buyer and Setter the prevailing party shall be entitled to recover from the Losing party all of its costs and expenses, including court costs and reasonable attorneys, fees. 17. CONDEMNATION. If at any time prior to the Closing, Legal proceedings are commenced under the power of eminent domain with respect to ail or any portion of the Land, either Setter or Buyer may terminate this Agreement and cancel Escrow by giving written notice to Escrow Holder and the other party. Thereupon, all instruments shalt be returned to the respective parties who deposited same, Buyer and Setter shalt each pay one-half (1/2) of all title and Escrow cancellation charges, all other funds then deposited by Buyer in Escrow and any funds paid outside of Escrow by Buyer shall be returned to Buyer, and each party shalt be excused from any further obligations hereunder or Liability to the other party. In the event of such termination, Buyer shall have no right to participate in the receipt of any condemnation proceeds from the taking; provided, however, that the rights of Setter and the Lessee under,the Ground Lease in the event of condemnation shall continue in full force and effect. Should neither party elect to terminate this Agreement as aforesaid, there shall be no price adjustment as a result of the taking, and Setter shall not be entitled to any condemnation award as may be attributable to the Land. 18. DAMAGE OR DESTRUCTION. In the event any of the improvements on the Land are damaged or destroyed prior to the Closing, Buyer agrees that it shalt bear the risk of such Loss and shall have no right to terminate this transaction; provided, however, that as of the Closing Date, Buyer shalt be entitled to aLL sums, if any, payable to the Lessor under the Ground Lease as the result of such damage. 19. AUTHORITY TO BIND. Each of the individuals signing this Agreement on behalf of any entity thereby specifically represents and warrants that such signatories, either collectively or individually, have the authority to bind that entity to all provisions of this Agreement. 20. NOTICES. Any notice, request, demand, consent, approval or other communication required or permitted hereunder or by law shalt be validly given or made only if in writing and delivered in person or by independent courier service to the other party at the address(es) below, or deposited in the United States mail, duty certified or registered (return receipt requested), postage prepaid, and addressed to the party for whom intended, as follows: If to Setter: copy to: NBI-143164.Vl IRVINE HOTEL COMPANY P.O. Box I Newport Beach, CA 92658-8904 Attention: Stephen Brahs IRVINE HOTEL COMPANY P.O. Box I Newport Beach, CA 92658-8904 Attention: General Counsel 01/18/93 If to Buyer: MARVIN 0. BURTON, AS TRUSTEE 121 East Hopkins Aspen, Colorado 81611 Copy to: Douglas P. Allen, Esq. 600 East Hopkins, Suite 302 Aspen, Colorado 81611 Any party may from time to time, by written notice to the other, designate a different address which sha(t be substituted for that specified above. if any notice or other document is sent by mail. as aforesaid, the same shall be deemed fully delivered and received upon delivery to the addresses set forth above; provided that if delivery is refused by the party to whom such notice is addressed, delivery shall be deemed to have occurred upon such refusal. 21. GENDER AND ULMER. In this Agreement (unless the context requires otherwise), the masculine, feminine and neuter genders and the singular and the plural shall be deemed to include one another, as appropriate. 22. ENTIRE AGREEMENT. This Agreement and its exhibits constitute the entire agreement between the parties hereto pertaining to the subject matter hereof, and the final, complete and exclusive expression of the terms and conditions thereof. Prior agreements, representations, negotiations and understandings of the parties hereto, oral or written, express or implied, are hereby superseded and merged herein. 23. CAPTIONS. The captions used herein are for convenience only and are not a part of this Agreement and do not in any way Limit or amplify the terms and provisions hereof. 24. GOVERNING L.AW. This Agreement and the exhibits attached hereto have been negotiated and executed in the State of California and shall be governed by and construed under the Laws of the State of California. 25. INVALIDITY OF PROVISIONS. If any provision of this Agreement as applied to either party or to any circumstance shalt be adjudged by a court of competent jurisdiction to be void or unenforceable for any reason, the same shall in no way affect (to the maximum extent permissible by taw) any other provision of this Agreement, the application of any such provision under circumstances different from those adjudicated by the court, or the validity or enforceability of the Agreement as a whole, and any provision so adjudged to be void, invalid, illegal or unenforceable for any reason sha(L be replaced, if possible, with a valid provision that is enforceable and most nearly carries out the original intent of the parties hereto. 26. AMEWMENTS. No addition to or modification of any provision contained in this Agreement shalt be effective unless fully set forth in writing and signed by both Buyer and Seller. 27. COLINTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shalt constitute but one and the same instrument. 28. NO RECORDATION. Neither Buyer nor Setter shall, without the consent of the other, record this .Agreement, or a short form or memoranclum thereof, or take any other action which would materially and adversely affect the marketability of Seller's title to the Land. 29. LEASE ASSIGNMENT. Concurrently with the Closing, Seller shall be deemed to have assigned its interest, as Lessor, in the Ground Lease to Buyer, and Buyer hereby agrees to assume all of the obligations and Liabilities of the Lessor thereurder and to indemnify, defend and hold Setter harmless from and against aLL such obligations and Liabilities from and after the Closing. 30. ADJACENT PIARIKA. Buyer hereby acknowledges and agrees that, as a material inducement to Seller to enter into the transaction contemplated by this Agreement, the property being sold to Buyer pursuant to this Agreement does not, and shall not at any time in the future, include any Littoral rights with respect to the waterway adjacent to the Land and the marina currently Located thereon owned by Seller or any future improvements Located thereon or any enhancements, repairs or replacements thereof (collectively, the "Waterway"), aLL of which are expressly reserved by Seller. Buyer further acknowledges that the rights retained by Setter pursuant to this Section 13 enhance the value of Lard owned or Leased by Seller and/or the other interests which Seller may have in such Land and that Setter would not have entered into this Agreement if the property being sold to Buyer included any Littoral rightswith respect to the Waterway and that the Purchase Price for the Land has been established by Setter based upon Seller's continued right to own, occupy, use, operate, lease or otherwise alienate the waterway. Buyer hereby expressly and fully relinquishes and releases unto Seller any and aLL Littoral rights or any other rights that it may now or hereafter have or claim with respect to the Waterway, including without Limitation any such right, title or interest claimed, asserted or resulting from the fact that the Land abuts the Waterway. Buyer further fully and unconditionally waives any and aLL rights it may now or hereafter have or assert to enjoy, invoke or use the Waterway or any Littoral rights relating thereto and acknowledges and agrees that by entering into this Agreement Buyer is estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. Buyer acknowledges and agrees that Seller, or its successors and assigns, shall be entitLed to own, occupy, use, operate, lease or otherwise alienate the Waterway in the manner that Seller, or such successors and assigns, elect in their sole discretion. Buyer hereby covenants and agrees that it shaLL not at any time in the future assert any right, title or interest with respect to the waterway or challenge, object to, or interfere with, Seller's or any successors' or assigns' ownership, occupancy, use, operation, Lease or alienation thereof. In the event Buyer, or any of its successors or assigns, at any time in the 'future asserts any right, title or interest with respect to the Waterway or challenges, objects to, or interferes with Seller's ownership, occupancy, use, operation, lease or alienation thereof, Seller shaLL be entitled to exercise any and aLt of its rights and remedies under the Special Restrictions, including, without Limitation, the right to receive payment of an additional purchase. price from Buyer, or such successors or assigns, as provided in Article V of the Special Restrictions. Notwithstanding anything to the contrary set forth herein, Buyer and Seller acknowledge that, in the highly unlikely event that a court or other governmental authority at some future date decides that the Littoral. rights have been transferred to or are appurtenant to the property conveyed to Buyer despite the express agreement of Buyer and Seller to the contrary, Buyer and Setter have entered into a Lease of the Waterway in the form attached hereto as EXHIBIT G, which Lease shall remain in full force and effectin the event of any such determination adverse to Seller's ownership, occupancy, use, operation, Lease or alienation of the Waterway. Notwithstanding the foregoing, Buyer acknowledges that such Lease is being entered into sollety as a means of fulfilling the express intent of the parties that Seller shalL retain all Littoral rights r La e ating to the Land and the Lease, and its execution thereof by Seller, shall not be deemed or construed to :on::r upon Buyer, or its successors and assigns, any Littoral rights relating to the Land. Seller and its uc ssors and assigns4shalL retain the obligation to maintain the bulkhe d ad' nt to the Waterway, �,ace c ' bLo s to ith aLL syste)m,, tie rods, concrete panels, rockfilt, tie ack :an blocks, raiLi�ygs nd any _Z N81-143164 V1 /6 17 01/18/93 other components of such bulkhead or relating thereto; provided that in no event shall Seller or its successors or assigns be responsible for any maintenance or changes to the bulkhead or any of the foregoing components which results from, or is necessary in connection with, a use of the Land which differs from the use of the Land existing as of the date of this Agreement. Seller shall be responsible for paying any real property taxes and assessments, if any, attributable to or relating to the Waterway; provided that nothing contained herein shall be deemed or construed to require Seller to pay any taxes, or any other amounts, attributable to, or relating to, the Lard. The provisions of this Section 30 shall survive the Closing in accordance with the provisions of Section 13 hereof. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. SELLER: THE IRVINE a Mi BY: By: — `�' fta FtRM �ut A, 11 1� I' -�D o c N t Vice President P 0 C.2 LU BUYER: MARVIN O..,BURTON, AS—JWUSTEE OF THEAWVIN 0. BURTON FAMILY TRUST DATED MAY 25, 1962 N81-143164.Vl 7 01/18/93 EXHIBIT A LEGAL DESCRIPTION OF THE LAND 333 Bayside Parcel 1: Lot B, In the City Of Newport Beach# County of orange, State of California, as per rrulp recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County. Parcel 2: A non-exclusive easement for ingress and egress over Lots A and C as shown on a map filed in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County, described as follows: Beginning at the most Easterly corner of said Lot C; thence along the boundary tine of said Lot C the ill West 1U.02 feet, North 44* 331 og,, west 39.05 feet and North 5* following three courses North 84' 211 1 ne of the land described as Parcel 70046-1 in Deed to 281 3211 East 22.59 feet to q point on the Southerly it the State of California recorded January 10, 1979 in Book 12996, Page 119 of official Records of said County, thence along said Southerly line the following three courses, South 88* 301 5911 East 56.66 feet, Easterly along a tangent curve concave Southerly having a radius of 938.00 feet through a central angte of 2' 43, 031, an arc distance of 44.49 feet and South 59' 15, 3311 East 28.93 feet to a point on the Southwesterly line of sayside Drive 76-00 feet wide, being also a Point on the Northeasterly line of said Lot C; thence along said Northeasterly line, South 25* 141 0011 East 48.48 feet to the point of beginnin I g. Parcel 3: A non-excluslye easement for the encroachment of the second story of the building located on the above described Parcel I onto the adjacent property and any replacements or repairs thereof; provided that any such replacements or repairs shall only be constructed within the air space that the second story Of the building currently occupies as of the date hereof and provided further that in no event shalt the easement granted hereby be deemed or construed to extend beyord the area currently occupied by the second story of such building. 01/18/93 N81-143164.Vl A-1 EXHIBIT 8 GENERAL PR(NISIONS PRORATE all items required in this escrow as of the date of close of escrow or as otherwise set forth in Agreement of the Parties. Assume a 30 -day month in any prorate herein provided, and unless the parties otherwise instruct you, you are to use the information contained in the last available tax statement, rentaL statement as provided by Setter beneficiary's statement, and fire insurance policies delivered into escrow for the prorates provided above. In the event any beneficiary's statement reveals a deposit, account or funds for a future payment of taxes, insurance or other future payment obligations of the loan you are to credit Setter and debit Buyer unless otherwise instructed. YOUR AGENCY AS ESCROW HOLDER shalt terminate six months following the date set forth in Agreement of the parties for the close of escrow (Closing Date), and shalt be subject to earlier revocation by receipt by you prior to close of escrow of written notice signed; (1) In case this escrow has not been placed in a condition to close by the Closing Date, by any party hereto, or (2) If received prior to said date, but after (there shalt have been) a failure of a condition or performance to be complied with or performed on or before a date, or within a period, stated herein, then by any party other than a party responsible for such compliance or performance, or (3) As otherwise set forth in Agreement of the parties. Any such revocation shall be effective upon receipt of such notice, but you shall not return the documents or deposits of the revoking party prior to ten (10) days after you have mailed a copy of such notice to each of the other parties. YOUR KNOWLEDGE OF MATTERS affecting the property, provided such facts do not prevent compliance with these instructions, does not create any liability or duty in addition to your responsibility under these instructions. No notice, demand or change of instruction, except a demand for revocation made in accordance with the foregoing paragraph, shalt be of any effect in this escrow unless given in writing by aLL parties affected thereby. PROCEEDS of this escrow shall be disbursed by your check payable to the parties as their names are signed herein unless otherwise instructed and your checks and documents shalt be mailed to the addresses set forth in the Agreement of the parties. FUNDS DEPOSITED into this escrow are to be maintained in a federally insured trust account, and any escrow retated services provided to escrow holder by any depository bank or savings and Loan association are hereby consented to and approved. If for any reason funds are retained or remain in escrow after closing date, you are to deduct therefrom a reasonable monthly charge as custodian thereof of not less than S10 per month. ALL PARTIES TO THIS ESCROW ACKNOWLEDGE THAT CHICAGO TITLE COMPANY DOES NOT PROVIDE LEGAL ADVICE NOR HAS IT MADE ANY INVESTIGATION, REPRESENTATIONS OR ASSURANCES WHATSOEVER REGARDING THE COMPLIANCE OF THIS TRANSACTION WITH ANY TAX, SECURITIES OR OTHER LAWS OF THE UNITED STATES OR THE STATE IN WHICH THE TRANSACTION IS CONSUMMATED. ESCROW HOLDER RECOMMENDS THAT THE PARTIES OBTAIN INDEPENDENT LEGAL COUNSEL AS TO TAX, SECURITIES OR OTHER LEGAL ASPECTS OF THE TRANSACTION. YOU ARE INSTRUCTED TO FURNISH to any broker or Lender identified with this transaction or anyone acting on behalf of such tender, any information concerning this escrow, copies of all instruction, amendments and statements upon request. INDICATE ON DEED to record, all future tax statements are to be mailed to Buyer at its specified address unLess otherwise indicated in Agreement of the parties. SELLERS AGREES to hand you the instruments, documents and money required to comply with these instructions, which you may use, and pay such costs, taxes, assessments and demands to insure title as set forth herein when you can comply with these instructions and deliver the net proceeds to the order of Setter. PAY A COMMISSION in accordance with the instructions contained in separate commission order. PAY DOCUMENTARY TRANSFER TAX If the documentary tax declaration has not been furnished in connection with the Deed from Setter herein to Buyer herein, you are instructed to complete and sign the declaration on such Deed by computation based on fuLl value of reat property conveyed Less Liens and encumbrances remaining thereon at time of conveyance, if any. EACH PARTY AGREES to pay its own proportionate share of costs and charges incurred herein, including, but not necessarily Limited to escrow fee, document preparation and special handling fees; title insurance policy and endorsement fees; costs and charges of Lender(s) or other vendor(s) identified herein; documentary transfer tax, recording, monument, change of ownership and/or other fees chargeable by the City, County arid/or State in which subject property is Located. END OF GENERAL PROVISIONS N81-143164.Vl B-1 01/18/93 EXHIBIT C FORM OF GRANT DEED N81 -143164.V1 C-1 01/18/93 RECORDING REQUESTED By AND WHEN RECORDED MAIL THIS DEED AND UNLESS OTHERWISE SHOWN BELOW, MAIL TAX STATEMENTS 70 NAME[— STREET ADD 1, r. st CITY. 5 I -AT I ZIPtL Title Order No .......... . . .. .... ... Escrow No ......................... This space for Recorder's use Corporation Grant Deed THE UNDERSIGNED GRANTOR(s) DECLARE(s) DOCUMENTARY TRANSFER TAX is $ [3 -unincorporated area 0 City of Parcel No Q0 computed nit full value of property conveyed, or 0 computed on full value less value of liens or encumbrances remaining at time of sale, and FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, THE IRVINE COMPANY a Corporation organized under the'laws of the state of Michigan hereby GRANT(S) to MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED MAY 25, 1982 the following described real property in the county of Orange , State of California: See Exhibits A and B attached hereto and incorporated herein by reference. Dated STATE 0 ' F CALIFORNIA I S.S. COUNTY OF Oranye On before me, a Notary. Public in and for said County and State, personally appeared Donald McNutt and Stepien A Brahs -- ------- m^ Ini, ntrived to me on the basis of satisfactory evfdonce) to be the person(s) whose name(s) is/are subscribed to the within Instrument and acknowledged to me that he/shelthey executed the same In histher/their authorized capadMies), and that by hLglher/lheir signature(s) on the Instrument the person(s), or the entity upon behalf of which.the person(s) acted, executed the Instrument. WITNESS my hand and official seal THE IRVINE COMPANY, a Michigan Corporation BY: Donald MCNULL, vice President BY: Stephen A. Brahs, AssIt Secretary Signature (space aLive for official notarial seal) MAIL TAX STATEMENTS -16 PARTY SHOWN ON FOLLOWING LINE; IF NO PARTY So SHOWN, MAIL AS DIRECTED ABOVf City & State Street Address Name CTC 1-102 f9-91) EXHIBIT A TO GRANT DEED (333 Bayside Drive) The real property conveyed hereby is described in Exhibit 8 to this Grant Deed. RESERVING UNTO GRANTOR, its successors and assigns, together with the right to grant and transfer all of a portion of the same, as follows: A . Any and all oil, oil rights, minerals, mineral rights, natural gas rights, and other hydrocarbons by whatsoever name known, geothermal steam, any other material resources and at L products derived from any of the foregoing, that may be within or under the Land, together with the perpetual right of drilling, mining, exploring and operating therefor and storing in and removing the same from the Land or any other land, including the right to whipstock or directionatLy dritt and mine from Lands other than those conveyed hereby, oil or gas wells, tunnels and shafts into, through or across the subsurface of the Land, and to bottom such whipstocked or directionaLLy drilled wells, tunnets and shafts under and beneath or beyond the exterior Limits thereof, and to redriLL, retunnet, equip, maintain, repair, deepen and operate any such wells or mines; without, however, the right to dri[1,, mine, store, explore and operate through the surface or the upper 500 feet of the subsurface of the Land. B. Any and all water, rights or interests. therein, no matter how acquired by Grantor, and owned or used by Grantor in connection with or with respect to the Land, together with the right and power to explore, driLL, redritL, remove and store the same from the Land or to divert or otherwise utilize such water, rights or interests on any other property owned or Leased by Grantor, whether such water rights shall be riparian, overlying, appropriative, Littoral, percolating, prescriptive, adjudicated, statutory or contractual; but without, however, any right to enter upon the surface of the Land in the exercise of such rights. C. NonexcLusive easements in gross on, over or across the Land within areas designated or shown on any recorded parcel or tract map of the Land for the following existing or proposed purposes: (i) the installation, emplacement and maintenance of electric, gas, telephone, cable television, water, _ sanitary sewer Lines, drainage facilities or any other utilities, together with the right to enter upon the Land (without unreasonable interfering with Grantee's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such Lines or facilities; provided that such utilities shall be installed underground to the maximum extent practicable and the Land and the improvements upon it shall be restored and repaired to the condition prior to such installation at the cost and expense of the exerciser of such easements; and (ii) ingress and egress over any public or private rights of way, bicycle and pedestrian trails or other specific designated use areas, if any. D. Nonexctusive easements in gross on, over, under or across the Land within 15 feet from all property Lines of the Land for the installation, emplacement, repair, replacement, operation and maintenance of electric, gas, telephone, cable television, water, sanitary sewer tines, drainage facilities or any other utilities (provided, that such utilities shall be installed underground to the maximum extent practicable so Long as such installation does not unreasonably interfere with the use of the Land and the Land and the improvements upon it shall be restored and repaired to the condition prior to such instaLtation at the cost and expense of the exerciser of such easements) and monument, directional or other signs. E. Nonexclusive easements in gross on, over or across the Land within areas which are presently used by the public or adjoining Landowners as common streets, passage ways, driveways, entrance ways or access ways which shall not unreasonably interfere with Buyer's reasonable use and enjoyment thereof, together with the right to enter upon the Land (without unreasonably interfering with Grantee's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such streets or ways; provided, no adjoining Landowner shall have any obligation to service, maintain, repair, reconstruct, relocate or replace such streets or ways or to pay the costs thereof unLess specifically agreed to in writing by such landowner; and provided that Grantee shaLL be entitled to relocate such easements from time to time in its reasonable discretion upon written notice to Grantor provided that any such relocation shall not substantially diminish or reduce the access afforded to Grantor or its ability to service, maintain, repair, reconstruct, relocate or replace any such streets or ways. F. Any and all Littoral rights with respect to the waterway adjacent to the Land and the marina currently Located thereon owned by Grantor or any future improvements Located thereon or any enhancements, repairs or replacements thereof (colLectivety, the "Waterway"). By its acceptance of this Grant Deed Grantee and its successors and assigns hereby expressly and fully relinquish and release unto Grantor any and all Littoral rights that they may now or hereafter claim with respect to the Waterway, including, without Limitation, any such right, title or interest claimed, asserted on resulting from the fact that the Lard abuts the Waterway and Grantee and its successors and assigns fully and unconditionaLLy waive any and all rights they may now or hereafter have or assert to enjoy, invoke or use the Waterway or any Littoral rights relating thereto and acknowledge and agree that by their acceptance of this Grant Deed Grantee and its successors and assigns are estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. By its acceptance of this Grant Deed Grantee acknowledges and agrees that Grantor and its successors and assigns shaLL be entitled to own, occupy, use, operate, Lease or otherwise alienate the Waterway in the manner that Grantor, or such successors and assigns, elect in their sole discretion and Grantee and its successors and assigns shall not at any time in the future assert any right, title or interest with respect to the Waterway or challenge, object to or interfere with the ownership, occupancy, use, operation, Lease or alienation thereof. G. NonexcLusive easements in gross on, over or across the Land for the installation, emplacement, repair, replacement, operation and maintenance of the bulkhead adjacent to the Waterway, together with all systems, tie rods, concrete panels, rockfiLt, tie -back anchor blocks, railings and any other compurienta. ., out-li uul�...cu v. ".Lher with the right to enter upon the Land in connection therewith. SUBJECT TO: 1. General and special taxes and assessments for the current fiscal year and any and all unpaid bonds and/or assessments. 2. That certain Declaration of Special Land Use Restrictions, Mortgage Lien and Option to Repurchase executed by Grantor and Grantee, recorded concurrently herewith and incorporated herein by this reference (the "Declaration"). NB1-143525.V1 1 01/18/93 3. That certain ground Lease dated September 21, 1967, as subsequentLy amended prior to the date hereof, between Grantor, as Lessor, and Marvin 0. Burton, an individuaL, as Lessee, (the "Ground Lease"). 4. ALL covenants, conditions, restrictions, reservations, rights-of-way, easements and other matters of record or apparent (provided that in any such case it is not the intent of this instrument to require a separate consent by Grantor concerning modifications or amendnents thereto, except as may be expressLy required by the instruments evidencing any such matters). NBl-143525.Vl 01/18/93 EXHIBIT B TO GRANT DEED The real property conveyed hereby is described as follows: 333 Bayside Parcel 1: Lot B, in the City of Newport Beach, County of Orange, State of California, as per map recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County. Parcel 2: A non-excLusive easement for ingress and egress over Lots A and C as shown on a map fi Led in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County, described as follows: Beginning at the most Easterly corner of said Lot C; thence along the bo . undary tine of said Lot C the following three courses North 84' 211 'W' West 122.02 feet, North 44' 331 09" West 39.05 feet and North 5' 281 32" East 22.59 feet to a point on the Southerly I ine of the land described as Parcel 70046-1 in Deed to the State of California recorded January 10, 1979 in Book 12996, Page 119 of Official Records of said County, thence along said Southerly Line the following three courses, South 88' 301 59" East 56.66 feet, Easterly along a tangent curve concave Southerly having a radius of 938.00 feet through a central angte of 2* 431 031, an arc distance of 44.49 feet and South 59* 15, 33" East 28.93 feet to a point on the Southwesterly Line of Bayside Drive 76.00 feet wide, being also a point on the Northeasterly line of said Lot C; thence along said Northeasterly line, South 25* 14, 0011 East 48.48 feet to the point of beginning. Pnrcel 3: A non-exclUflye easement for the encroachment of the second story of the building located on the above described parcel 1 onto the adjacent property and any replacements or repairs thereof; provided that any such replacements or repairs shall only be constructed within the air space that the second story of the building currently occupies as of the date hereof and provided further that in no event shall the easement granted hereby be deemed or construed to extend beyond the area currently occupied by the second story of such building. NB1-143525.V1 B-1 01/18/93 EXHIBIT D FORM OF SPECIAL RESTRICTIONS NB1-143164.V1 D-1 01/18/93 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: The Irvine Company Post Office Box I Newport Beach, California 92658-8904 Attention: General Counset/Irvine Hotel Company DECLARATION OF SPECIAL LAND USE RESTRICTIONS AND MORTGAGE LIEN OB Bayside Drive) THIS INSTRUMENT is entered into as of the day of 1 1993, by and between THE IRVINE COMPANY, a Michigan corporation ("DecLarant"), and MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED KAY 25, 1982 ("Buyer") with reference to the following facts: A. Concurrently herewith, Buyer is acquiring from DecLarant that certain parcel of Land situated in the County of Orange, State of California, as more particutarLy described on EXHIBIT A attached hereto and by this reference incorporated herein (the "Land"). B. In connection with such acquisition, Buyer has represented to DecLarant that it is acquiring the Land to own and operate the same in accordance with certain covenants, conditions, rights, restrictions and limitations more particularly set forth below (collectively referred to as the "Restrictions"), and DecLarant is setting the Land to Buyer on the basis of Buyer's continuing compliance with such Restrictions. Buyer acknowledges that: (i) The original purchase price paid by Buyer for the Land reflects the Limitations on use set forth in the Restrictions; (ii) DecLarant has informed Buyer that it is DecLarant's belief that without certain transfer, use and development restrictions set forth below and hereby agreed to be reasonable, the Land or an interest in Buyer could be sold by Buyer for an immediate gain prior to fulfilling certain express requirements of Buyer and contrary to the express intent of the parties hereto; and (iii) DecLarant has informed Buyer that the price charged to Buyer for the Land would have been substantially higher had the Land been sold unencumbered by the Restrictions. C. Buyer acknowledges that Dectarant hap informed Buyer that but for such representations by Buyer, and the covenants of Buyer contained herein, Declarant would not have sold the Land to Buyer; instead, Declarant would have sold the Land to another party willing to conform to these Requirements or would have retained its fee interest in the Land. D. The Land is currently subject to that certain ground Lease dated September 21, 1967, as amended from time to time prior to the date hereof, between DecLarant, as Lessor, and Marvin 0. Burton, an individual, as Lessee (the "Ground Lease"). Wherever herein reference is made to Buyer, such reference shall refer to and include its successors and assigns, insofar as the Restrictions preclude, Limit or establish conditions precedent to any proposed use of the Land, including, without Limitation, the provisions of Section 2.01 below. in the event of any inconsistency between the Ground Lease and this Agreement with respect to such matters, the provisions of this Agreement shall govern and take precedence over such provisions in the Ground Lease. NOW, THEREFORE, in consideration of the foregoing (including the sale of the Land by DecLarant to Buyer), and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by Buyer, the parties hereto agree as follows: ARTICLE I GENERAL PROVISIONS 1.01. STATEMENT OF GENERAL PURPOSES. Dectarant is the owner of a Large and unique Landholding, portions of which have been developed as master -planned communities. Among the distinguishing characteristics of these master-pLanned communities are the clear delineation of use areas, together with the strict exercise of architectural and occupancy controls over individual construction projects, so as to ensure the harmonious growth and development of the Local community and the maximization of the value of Dectarant's remaining landholdings. In addition to those general concerns, it is vitally important to, DecLarant that the intensity of development be Limited on those parcels of property (including the Land) that DecLarant from time to time elects to sell to third parties. Should the development Limitations imposed by DecLarant be exceeded, among other possible consequences adverse to DecLarant's interests, the roadways and other infrastructure improvements servicing the Land and its environs could be over utilized, resulting in undesirable traffic congestion and housing imbalances within the surrounding community. Such conditions could in turn adversely affect the ability of Declarant to develop its remaining landownings, including without Limitation the "Benefited Property" as defined below. It is to promote these purposes that this Declaration is made, and it is the intention of the parties that it will be in furtherance of said purposes that the Restrictions, and ail other declarations supplemental hereto, wilt be understood and construed. 1.02. CERTAIN DEFIWITIONS. I ­­ 1- . (a) "Affiliate of Buyer" shalt mean an entity owned or controlled by or under common control with Buyer. For purposes hereof, "control" shall mean management of the day-to-day operations of such entity and, in the case of a corporation, ownership of at Least fifty-one percent (51%) of all classes of outstanding voting stock of such corporation, and, in the case of a partnership, ownership as a general partner of at Least fifty-one percent (51%) of the interest in profits and losses and/or cash flow of such partnership. (b) "Declarant" shall mean The Irvine Company and all successors, assigns or designees who shall assume the obligation and to whom The Irvine Company shalt specifically assign in writing the right to enforce these Restrictions. NB1-143166.V1 01/12/93 (c) !'Buyer" shall mean the Buyer identified above and each and every successor, assignee, owner, Lessee, Licensee or other occupant during its ownership or occupancy of the Land or any portion thereof or interest therein, as the context may require. (d) "Gross Floor Area" Defined. As used in this instrument and any exhibits hereto, the term "gross floor area" shall mean the square footage area within the exterior facade or Line of the exterior walls of the building, including basement and subterranean areas, balcony and mezzanine space, except that the following areas shall not be included: 0) Areas which are used exclusively to house mechanical, electrical, telephone, heating, ventilation, air conditioning and other such building operating equipment, including trash compactors and bailing equipment; 00 Service corridors, exit corridors or stairs not contained within any area exclusively appropriated for the use of any single occupant; (iii) Mail pedestrian circulation not contained within any area exclusively appropriated for the use of any single occupant, including stairs and vertical transportation; and, Ov) Truck loading areas, truck tunnels, truck parking, turnaround and dock areas, and ramps and approaches to such truck Loading areas. (e) "Restrictions" shalt mean each covenant, condition, restriction, reservation, Limitation or other provision contained in this instrument. ARTICLE 11 GENERAL AND SPECIFIC USE RESTRICTIONS 2.01. GENERAL USE RESTRICTIONS. The violation of any of the following general use limitations within twenty-five (25) years after the recordation of this Instrument shall at DecLarant's option constitute a default hereunder and a breach of the Restrictions, which shall entitle DecLarant to exercise any of the rights and remedies set forth below: (a) SUODIVISION. Buyer shalt not effect any change or amendment to any parcel or final subdivision map covering the Land or record any further parcel or final subdivision map of the Land or any portion thereof or facilities thereon, pursuant to California Government Code Sections 66410 et sec., or any similar or successor statute hereafter enacted, and any Local ordinances adopted pursuant thereto, in any case relating to a use other than a Permitted Use (as hereinafter defined), nor shall Buyer file or record a condominium plan covering the Land relating to a use other than a Permitted Use, or file any applications with any governimental agency with respect thereto relating to a use other than a Permitted Use, unless expressly approved by DecLarant, which approval may be gran' -d or withheld by DecLarant in its soLe discretion. (b) ZONING. Buyer shall not use or develop, or attempt to use or develop, the Land, or any portion thereof, for any purpose other than the Permitted Use (without the benefit of a zoning variance, exception or other special ackninistrative procedure) under the zoning ordinance or ordinances of the governmental entity having zoning jurisdiction over the Land in effect as of the date of recordation of this Instrument. Additionally, Buyer shalt not change or attempt any change in zoning, or obtain or apply for a zoning variance or exception or other similar approval with respect to the use or development of the Land or any portion thereof for a use other than a Permitted Use, unless expressly approved by DecLarant, which approval may be withheld by DecLarant in its sole discretion. W UNAPPROVED DEVELOP14ENT OR LISE. Unless expressly approved by Dectarant, which approval may be withheld by Declarant in its sole discretion, Buyer shall not permit: (i) The commencement of construction, maintenance, operation or use of any structure or improvements on the Land not in full compliance with all requirements of Law or as contained herein or in any recorded covenants, conditions, rights, restrictions and Limitations existing from time to time covering the Land, including without Limitation all architectural approval requirements and use restrictions contained in such documents; or 00 More specifically, any use of the Land that is not a permitted use as set forth in EXHIBIT B to this Declaration (a "Permitted Use"). (d) FLOOR AREA AND HEIGHT LIMITATION. As previously described, Buyer understands that the development potential of other lands owned by DecLarant, including without Limitation the Benefited Property, will depend in material part upon the intensity of development and use on the Land. Accordingly, Buyer covenants that without the prior written consent of DecLarant (which consent may be withheld in DecLarant's soLe and absolute discretion or may be given predicated on the payment to Deciarant of such additional sum as is set forth in section 3.04 below or as otherwise may be required by DecLarant), in no event shall the collective Gross Floor Area of all buildings now or hereafter constructed on the Land exceed the maximum Gross Floor Area set forth in EXHIBIT 8 hereto, nor shall the above -grade height of any such building exceed the height Limitation set forth in EXHIBIT B. ARTICLE III ENFORCB4ENT OF RESTRICTIONS 3.01. GENERAL PURPOSE AND CONSTRUCTIVE NOTICE. The Restrictions shall run and pass with each and every portion of the Land and be binding upon Buyer, its successors and assigns, and shall benefit any and aLL other land owned byDectarant and located inOrangeCounty, California, including without Limitation the real property more particularly described in EXHIBIT C attached hereto and incorporated herein by reference (the "Benefited Property"). The restrictions shalt be criforceable soLcty t-,- nti-! i . t� - 1 -4 ; - - —, �­^­Faro -F --rry of Declarant benefited by the Restrictions, or any portion thereof by DecLarant. Except as specifically set forth herein, the Restrictions shall remain in full force and effect for the period of time specified in Section 2.01 above, notwithstanding DecLarant's exercise of any right or remedy herein due to a previous or repeated violation of any one or more of the previous Restrictions. Every person or entity who now or hereafter owns or acquires any right, title or interest in or to any portion of the Land is and shalt be conclusively deemed to have consented and agreed to every Restriction, provision, covenant, condition, right and Limitation contained herein, whether or not any reference to this Instrument is contained in the instrument by which such person acquired an interest in the Land. 3.02. INSPECTION. Upon twenty-four (24) hours advance notice and subject to the reasonable security requirements of Buyer, Declarant or its authorized representatives may from time to time, at any reasonable hours, enter upon and inspect 'the Land, site or any portion thereof or improvements thereon to ascertain compliance with the Restrictions, but without obligation to do so or liability therefore. NB1-143166.V1 01/12/93 3.03. DEFAULT AND GENERAL REMEDIES. In the event of any breach, violation or failure to perform or satisfy any of the Restrictions which not been cured within the applicable cure period set forth betow, DecLarant at its sole option and discretion may enforce any one or more of the following remedies or any other rights or remedies to which DecLarant may be entitled by taw or equity, whether or not set forth herein. Untess a cure period is otherwise specifically designated, such cure period shalt connence when written notice is given to Buyer of a violation hereunder and shalt end ten (10) days thereafter in the case of a monetary defautt and thirty (30) days thereafter in the case of a non -monetary default; provided, however, that if a non -monetary default is not reasonably susceptible of cure within such 30 -day period, then Buyer shalt have a reasonable time to cure same so Long as Buyer has commenced such cure promptly within the 30 -day period and thereafter diligently prosecutes the cure to completion. To the maximum extent allowable by Law, at[ remedies provided herein or by Law or equity shalt be cumulative and not exclusive; provided. however, that in the event OecLarant elects to exercise the remedy provided for in Section 3.04 hereof, such remedy shalt be OecLarant's sole and exclusive remedy for such violation of the Restrictions, although such remedy may be sought in the alternative with other available remedies in any legal action. (a) DAKAGES. Dec Larant may bring a suit for damages for any compensabLe breach of or noncwpL iance with any of the Restrictions, or declaratory relief to determine the enforceability of any of the Restrictions. (b) EQUITY. It is recognized that a particular or ongoing violation by Buyer of one or more of the foregoing Restrictions may cause DecLarant to suffer material injury or daimage not comipensabLe in money (including, but not Limited to irreparable effects on the type and quality of development on other property owned by DecLarant, or portions thereon, and that Declarant shalt be entitled to bring an action in equity or otherwise for specific performance to enforce compliance with the Restrictions or an injunction to enjoin the continuance of any such breach or violation thereof, whether or not DecLarant exercises any other remedy set forth herein. (c) ABATEMENT. Any such breach or violation of these Restrictions or any provision hereof, if not timely cured as provided above, is hereby declared to be a nuisance, and DecLarant shall be entitled to enter the Land and summarily abate and remove, without further Legal process to the maximum extent permitted by law, any structure, thing or condition that may exist in violation of any of these Restrictions, or to prosecute any remedy allowed by Law or equity for the abatement of such nuisance against any person or entity acting or failing to act in violation of these Restrictions, aLt at the sole cost and expense of Buyer or any person having possession under Buyer. Any costs or expenses paid or incurred by DecLarant in abating such nuisance or prosecuting any such remedy (including all reasonable attorneys' fees and costs of collection) and all other sums owing to DecLarant hereunder, together with interest thereon at the maximLsn rate permitted by Law then in effect, shall be a charge against the Land, shalt be a continuing Lien thereon until paid, and shall also be the personal obligation of Buyer or other person who was owner of the Land when such charges became due and who committed such breach or violation. (d) MORTGAGE LIEN. In addition to any other rights or remedies hereunder, should a default by Buyer not be timely cured, or upon the terms set forth in Article V hereof, Declarant may deliver to Buyer and record in the Official Records of the County of Orange a notice of default and election to sell the Land, and assign the Ground Lease, together with all improvements thereon (the "Improvements"), subject to any mortgage Lien thereon (on either the LeasehoLd estate created by the Ground Lease or on the fee estate of Buyer) which shall not be extinguished by such sate. Thereafter, unless all amounts legally due and owing to Declarant have been paid, and provided that at I of the requirements of Sections 2920 et seq. of the Cat i fornia Civi L Code and of at L other applicable statutes have been satisfied, DecLarant or such trustee as Declarant may appoint ("Trustee") may cause the Land and Improvements thereon to be sold at such time and place as may be fixed in said notice of sate or at such time and place to which the sate may be postponed as hereinafter provided without additionaL notice, either as a whole or in separate parcels, and in such order as DecLarant or its Trustee alone may determine, at public auction to the highest bidder for cash in Lawful money of the United States at the time of sate, or upon such other terms as DecLarant or its Trustee may consider advisable. In the event of a sale of the Land and assignment of the Ground Lease, as herein provided, Declarant shalt have the right to require that the buyer thereof covenant and agree that the fee estate in the Land and the Leasehotd estate created by the Ground Lease shall not merge as a result of such purchase by said buyer. Buyer shalt have no right to direct or determine whether the Land shall be sold as a whole or in separate parcels, or the order of sale of separate parcels or the portion of the Land to be soLd if only a portion is sold. Declarant or its Trustee may postpone the sate of the Land by public announcement thereof at the time and place of sate and from time to time thereafter by public announcement at the time and place of the preceding postponement. In conducting or postponing any such sate, DecLarant may act through its agents, officers or employees or any other person designated by DecLarant, whether or not such party shalt be a Licensed auctioneer. At such sate, DecLarant or its Trustee shalt cause to be del ivered to the buyer or buyers, one or more duty exercised deed or deeds conveying the property so sold, subject to all the provisions of this Instrument, but without any covenant or warranty, either express or implied. The recitals in such deed or deeds with regard to any matters of fact shalt be conclusive proof of the truthfulness thereof against the buyer at such sate, its successors and assigns, and aLL other persons. Any person or entity, including, without Limitation, DecLarant, may bid in or purchase at such sate. No such sate shalt release or extinguish any rights, remedies or provisions contained in this Instrument in the event of any further violation of any Restriction set forth herein. The proceeds of such sate shall be applied as follows: first, to the expenses of sate incurred by Dectarant, including reasonable attorneys, fees; next, to the sums secured hereby; and finally, to the person or persons legally entitled thereto. As an alternative to the foregoing, DecLarant may elect to foreclose the Lien secured hereby by judicial action, in which event Buyer shalt be Liable for the expenses incurred by DecLarant in connection therewith, including reasonable attorneys, fees. To the maximum extent permitted by law, Buyer hereby waives any applicable statue of Limitations, provided that the Lien created herein shalt expire sixty (60) years following the date of recordation of this Instrument. Notwithstanding the foregoing, if Buyer's default is timely cured in accordance with this Instrument or applicable Law, DecLarant shall, upon request by Buyer, record at Buyer's expense an appropriate notice of rescission in accordance with the applicable provisions of the Civil Code of California. 3.04. ADDITIONAL PURCHASE PRICE (a) PATMENT OF ADDITIONAL PURCHASE PRICE. 'r, the sole option ' , ':--' - _-7:7- may elect for any violation of the Restrictions itemized in Section 2.01 not cured within the time set forth above, as its exclusive remedy and in Lieu of any remedies permitted by Section 3.03, to obligate Buyer to pay to DecLarant thirty (30) days after written demand, an additional purchase price for the Land computed as described below, together with interest thereon at the maximum rate then permitted by Law accruing from and after the occurrence of any such event until the date of actual payment. Buyer's obligation to pay such additional purchase price shall be secured by the Lien of this Instrument described in Section 3.03(d) above, and shalt be subject to the power of sate provisions therein. No failure by DecLarant to exercise its rights to require one or more of such payments, and no prior exercise of such as to a previous violation, sha1,1L constitute a waiver of Dectarant's rights to require such payment at any Later time or times white this Instrument is still in effect, and so Long as any such violation may continue. (b) DETER14INATION OF ADDITIONAL PURCHASE PRICE. The additional purchase price resulting from a violation of the Restrictions identified in this Section 3.04 shalt be determined by calculating the difference NB1-143166.V1 01/12/93 between (i) the then current fair market value of the Land based on the use being made of the Land by Buyer and predicated on the assumption that said violation of the Restrictions is authorized and permitted herein and (ii) the then current fair market value of the Land based on the use of the Land by Buyer consistent with the Restrictions and assuming said violation is not authorized and permitted herein, but in no event sha(1, the additional purchase price be a negative number. "Current" fair market value shall refer to the value determir,--d as the date of notice from DecLarant to Buyer of a violation of the Restrictions. If the parties cannot agree upon the additional purchase price within twenty (20) days after written notice by Dec1larant to Buyer of violation of the Restrictions, then such fair market values shalt be determined by an independent appraiser appointed by DecLarant (and reasonably acceptable to Buyer), who shall be a member of the American Institute of Real Estate Appraisers and whose decision in this matter shalt be final, conclusive and binding. All fees for such appraiser shall be borne equally by DecLarant and Buyer. If DecLarant and Buyer are unablte to agree on a single appraiser within twenty (20) days after demand by either party, then,each party shalt select izs own duty qualified M.A.I. appraiser within ten (10) days thereafter and the two such appraisers shalt mutua��y setect a third appraiser within ten (10) days after the second of such appraisers is chosen. The average of the two appraisals closest in amount shall be final conclusive and binding as to the wKxjnt of the additional purchase price. In such event, each of the parties shalt bear the fees and charges of its own appraiser, and those of the third appraiser shall be borne equally by Declarant and "er. The additional purchase price shall be due on the date of notification to Buyer by DecLarant or such Later date as the additional price is determined as herein provided. 3.05. DECL-ARANTIS RIGHT OF FIRST OFFER. If, at any time within sixty (60) years after the recordatior of this Instrument, Buyer shalt determine to sell all or any part of the Land or any interest therein ("Interest") to a person or entity other than an Affiliate of Buyer, then Buyer shall notify DecLarant of the price and the terms on which Buyer wi L L be wi L ( ing to set I . If DecLarant, within thirty (30) days after receipt of Buyer's notice, indicates in writing its agreement to purchase said Interest for the price and on the term stated in Buyer's notice, Buyer shalt sell and convey the Interest to Dec(arant for the price and on the terms stated in such notice. If DecLarant does not indicate its agreement within such thirty (30) day period, Buyer thereafter shalt have the right to sell and convey the Interest to a third party, but only for a price not Less than the price offered to DecLarant and on terms not more favorable than those stated in the notice. If "er does not so sell and convey the Interest within one hundred eighty (180) days, any further transactions or any changes more favorable to DecLarant in the price or terms previously submitted to Declarant shall be deemed a new determination by Buyer to sell and convey said Interest, and the provisions of this Section shall again be applicable. ARTICLE IV APPROVAL OF IMPROVEMENTS AND PERFORMANCE OF WORK 4.01. PLAN REVIEW. No improvement on the Land of any nature costing in excess of Twenty Thousand Dollars ($20,000), including but not Limited to any alteration or addition to any Improvements existing from time to time, but exclusive of any interior or tenant improvement not visible from the exterior of any building on the Land, shalt be installed, developed, constructed, placed or assembled and maintained on the Land at any time during the twenty-five (25) years after the recordation of this Instrument until the various submittals (herein, the "Submittals") required by this Section shalt have been approved in writing by DecLarant. Separate and progressive Submittals regarding Improvements shalt be made by Buyer for approval as follows: (a) Two (2) sets of schematic plans and preliminary specifications shalt be submitted to Declarant, including at Least grading plans and site plans showing in reasonable detait the proposed type of use, size, Land coverage and the shape, height, location, material, color scheme and elevation of each proposed Improvement. (b) Two (2) sets of final working drawings and specifications, based on approved basic design concepts and schematic plans and preliminary specifications, including at Least color and material palette and signage, shalt be submitted before commencement of any Improvements. 4.02. GENERAL REQUIREMENTS. Partial Submittals may be made and approved, but in no event shall construction or assembly of any improvement proceed beyond the scope of the approval received. ALL plans and specifications to be submitted toDecLarant hereunder shall be prepared by an architect and/or engineer Licensed to practice in the State of Catifornia, and shalt be submitted in writing over the signature of Buyer or an agent duty authorized by Buyer in writing. 4.03. APPROVALS. Provided that Submittals are in conformity with these Restrictions and are accompanied by a written notice to Dectarant containing the sentence next following this sentence, DecLarant shall not unreasonably withhold its approval of any such Submittal. Notwithstanding anything to the contrary contained in this Article IV, Dectarant shalt be conclusively deemed to have given its approval thereof unless, within ten (10) business days after any such Submittal has been received, DecLarant shalt give express written notice specifying in reasonable detail each item which DecLarant disapproves and the reasons for the disapproval. Unless so disapproved, Dectarant shalt endorse its approval on one set of submitted documents and return the same to the person from whom the documents were received, provided that two (2) sets had been submitted as required above. 4.04. 13ASIS OF APPROVAL. Without Limiting the generality of the foregoing, Dectarant in its solle discretion may approve or disapprove any Submittals which are not in harmony or conformity with other existing or proposed improvements on or in the vicinity of the Land, or with any restrictions contained in this Declaration, or with any applicable governmental regulations, or with OecLarant's master utility, circulation or general aesthetic or architectural plans and criteria for the Land, including but not Limited to such matters as adequacy of site and Improvement dimensions or external structural appearance, relation of topography, grade and elevations of the Land being improved with neighboring sites and nearby streets, and the effect of Location and use of Improvements on neighboring sites, improvements or operations. 4.05. CERTIFICATES OF COMPLIANCE. Prior to commencement of any such work of Improvement, Buyer shalt, upon Declarant's written request therefore, supply DecLarant with a certificatiull �jy � L;Lt:Y,Se,� engineer or land surveyor verifying that the proposed Improvements wi L L be located on the correct parcel of Land and in accordance with the Submittals previously approved by Declarant. Upon completion of any such Improvements, Buyer shalt, upon DecLarant's written request therefore, supply DecLarant with a certification by a duty Licensed or registered architect (including the Landscape architect in the case of Improvements consisting of Landscaping) that the Improvements as designed by such archi,tect have been completed in accordance with the final working drawings and specifications previously approved by DecLarant pursuant to Sections 4.01 through 4.03 above. 4.06. PRESLIMPTION OF COMPLIANCE. Notwithstanding anything to the contrary herein contained, after the expiration of the earlier to occur of (i) one (1) year from either (a) the date of issuance of a certificate of occupancy by the applicable municipal or other governmentaL authority for any Improvement, if applicable, or (b) the date of recording a valid Notice of Completion with respect to such Improvement, or 00 one4e� 4-wemty (120 calendar days after Buyer has served DecLarant as provided in Section 6.09 below with copies of T j NBI-143166.Vl 01/12/93 either the foregoing certificate of occupancy or Notice of Completion, then any such improvement shalt, in favor of any purchasers and encumbrancers in good faith and for value, be deemed to be in compliance with a�t provisions of this Article IV, unless prior to the passage of the Lesser of such periods of time either (A) actual notice of such noncompliance or noncompLetion, executed by Dectarant, shall have been delivered to Buyer and, if recordable, shall appear of record in the office of the County Recorder of orange County, California, or (8) Legal proceedings shalt have been instituted to enforce compliance or completion. 4.07. EXPIRATION OF APPROVALS. Except as may be specifically required in any other document recorded by Dectarant, Buyer shalt have a period of one (1) year from the date of DecLarant's approval of any Improvement to the Land pursuant to Section 4.03 above within which to commence such work of Improvement in accordance with the approved documents. If Buyer fails to commence the work covered by any approved Submittal within such time period, any previous approvals given by DecLarant for such Improvement or Submittals shall be invalid, and Buyer shall make entirety new Submittals to DecLarant pursuant to Section 4.01 above prior to coffwncing such work of Improvement. In addition, Declarant's approval of any individual Submittal shalt expire one (1) year from the date such approval is given by Declarant unless commencement of construction of the Improvements covered by such Submittal has commenced or Buyer has submitted subsequent Submittals based upon or incorporating the earlier approved Submittal. The time periods in this Section shalt be extended by the period of delays outside Buyer's control, provided that the Buyer shalt have the burden of proving such delays. 4.08. IDENTICAL REPLACEMENTS. Notwithstanding the foregoing, any Improvement on the Land existing as of the recordation hereof or for which Submittals were previously approved by DecLarant as provided above may be repaired, replaced, or reconstructed without further consent by Dectarant, but only if the repair, replacement, or reconstruction is substantially identical to such prior Improvement. 4.09. EXCULPATION. Dectarant shalt not be Liable in damages to anyone making Submittals as provided herein, or to any Buyer, Licensee or other person subject to or affected by Restrictions, on these account of (i) Declarant's approval or disapproval of any Submittat, whether or not defective, (ii) any construction, performance or nonperformance by a Buyer of any work on the Land or Improvements, whether or not pursuant to approved Submittals, (iii) any mistake in judgment, negligence, action or omission in exercising DecLarant's rights, powers and responsibilities hereunder, and (iv) the enforcement or failure to enforce these Restrictions. Every person who makes Submittals to Dectarant for approval agrees by reason of such Submitta(, and every Buyer of the Land, Improvements or any portion thereof agrees by acquiring title thereto or an interest therein, not to bring any suit or action against Dectarant seeking to recover any such damages. DecLarant's approval of any Submittal shalt not constitute the assumption of any responsibility by, or impose any Liability upon, DecLarant or its representatives as to the accuracy, efficacy or sufficiency thereof. Nothing contained in this Section shall, in any way, be deemed to release DecLarant from Liability for fraud, intentional acts, or any breach of DecLarant's obligations under this Instrument. 4.10. ARCHITECTURAL REVIEW FEE. An architectural review fee of Seven Hundred Fifty DoLtars (S750.00) shall be paid to Declarant at or �fore the time preliminary plans and specifications, prepared by a duly licensed architect and/or engineer, are submitted for approval, which fee shalt cover DecLarant's review cost of all Submittals. 4.11. LANDSCAPING. Buyer shall be responsible for regular maintenance for all planted and undeveloped areas and all parking areas upon the Land and shall keep the same free and clear of weeds, debris and rubbish, in a neat and clean condition. In particular, all unpaved areas shall be fully and adequately Landscaped by Buyer, and Buyer shalt provide hose bibs, automatic sprinklers and other reasonable and adequate Landscape maintenance facilities in the vicinity of all landscaped areas. 4.12. DRAINAGE. No water shalt be drained or discharged from the Land or Improvements thereon --and no Buyer shall interfere with the drainage established as of the date of these Restrictions �which drainage is acceptable to and approved by DecLarant)--in or over the remainder of the Land or any other property adjacent to the Land, except in accordance with plans therefor approved by all public agencies having jurisdiction; provided, that no water shall be drained or discharged at any time onto or diverted from any adjacent Lands owned by DecLarant. 4.13. SIGNS. ALL signs shall be subject to the prior written approval of Dectarant in its sole discretion and shall conform to all governmental requirements then in effect. Notwithstanding anything to the contrary contained herein, the signage existing as of the date of these Restrictions has been approved by DecLarant. 4.14. 14AINTEMANCE AND REPAIRS. The Land and all improvements thereon shall at all times be kept and maintained in first-class condition, repair and appearance similar to that maintained by Dec1tarant and other owners of high-cLass properties of similar class and construction in Orange County, ordinary wear and tear excepted. ALL repairs, alterations, replacements or additions to Improvements shalt be at Least equal to the original work in class and quality. Buyer shalt keep the Land and all Improvements adequately insured against toss or damage by fire and other risks and shalt carry adequate public Liability insurance. In the event of any such damage or casualty, Buyer shall promptly restore in a good and workmanlike manner any portions of the Land or Improvements that have been so damaged or destroyed, subject to Buyer's ability to obtain all required governmental approvals therefor; provided, that Buyer shall use its best diligent efforts to obtain all such approvals. Buyer shalt also be responsible at all times for determining that all Improvements and the plans and specifications therefor shalt conform and comply in all respects with these Restrictions, all other restrictions of record, all applicable governmental regulations, and all exterior architectural design, Location and color specifications contained therein. (a) Dectarant agrees that, to the extent that the Improvements are damaged or destroyed and rec--.nstruction is economically unfeasible, Buyer shall have the right to raze and demolish such Improvements arid, within a reasonable time, commence construction of new Improvements on the Land; provided, however, that: 0) The new Improvements must comply with all requirements of thi,s Instrument regarding use and size; and 00 ALL plans and specifications for such Improvements must be approved by DecLarant as provided herein and comply with all then applicable codes and regulations. 4.15. CONFLICTS. In the event of any inconsistency between the provisions of this Article and those of any covenants, conditions and restrictions encumbering the Land and recorded prior to the date hereof, then the latter shalt control. ARTICLE V PIARIKA PROVISIONS 5.01. DECLARANTIS WATERWAY. The provisions of this ArticLe V shalt remain in full force and effect for sixty (60) years after the recordation of this Instrument. Buyer hereby acknowledges and agrees that, as a material inducement to DecLarant to enter into the transaction contemplated by this Agreement, the property NB1-143166.V1 01/12/93 being sold to Buyer pursuant to this Agreement does not, and shalt not at any time in the future, include any tittoraL rights with respect to the waterway adjacent to the Land and the marina currently located thereon owned by Declarant or any future improvements Located thereon or any enhancements, repairs or replacements thereof (collectively, the "Waterway"), all of which are expressly reserved by DecLarant. Buyer further acknowledges that the rights retained by Declarant pursuant to this Article V enhance the value of land owned or teased by DecLarant and/or the other interests which DecLarant may have in such Land and that DecLarant would not have entered into this Agreement if the property being sold to Buyer included any Littoral rights with respect to the Waterway and that the Purchase Price for the Land has been established by Declarant based upon Declarant's continued right to own, occupy, use, operate, tease or otherwise alienate the Waterway. The provisions of this Article V shalt not affect any rights which Buyer my have, if any, to use the Waterway as a member of the general public and not arising out of Buyer's ownership of the Land. Buyer hereby expressly and fully relinquishes and releases unto Dectarant any and all Littoral rights that it may now or hereafter have or claim with respect to the Waterway, including without Limitation any such right, title or interest claimed, asserted or resulting from the fact that the Land abuts the Waterway. Buyer further fully and unconditionally waives any and all rights it may now or hereafter have or assert to enjoy, invoke or use the Waterway or any Littoral rights relating thereto and acknowledges and agrees that by entering into this Agreement Buyer is estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. Buyer acknowledges and agrees that Declarant, or its successors and assigns, shalt be entitled to own, occupy, use, operate, Lease or otherwise alienate the Waterway in the mariner that Dectarant, or such successors and assigns, elect in their soLe discretion. Buyer hereby covenants and agrees that it shalt not at any time in the future assert any right, title or interest with respect to the Waterway or challenge, object to, or interfere with, DecLarant's ownership, occupancy, use, operation, Lease or alienation thereof. In the event Buyer, or any of its successors or assigns, at any time in the future asserts any right, title or interest with respect to the Waterway or challenges, objects to, or interferes with DecLarant's or any successors' or assigns' ownership, occupancy, use, operation, tease or alienation thereof, DecLarant shalt be entitled to exercise any and all of its rights and remedies under the Special Restrictions, including, without Limitation, the right to receive payment of an additional purchase price from Buyer, or such successors or assigns, as provided in Section 5.02. Notwithstanding anything to the contrary set forth herein, Buyer and DecLarant acknowledge that, in the highly, unlikely event that a court or other governmental authority at some future date decides that the tittoraL rights have been transferred to or are appurtenant to the property conveyed to Buyer despite the express agreement of Buyer and DecLarant to the contrary, Buyer and Oectarant have entered into a tease of the Waterway, which tease shalt remain in full force and effect in the event of any such determination adverse to DecLarant's ownership, occupancy, use, operation, tease or alienation of the Waterway. Notwithstanding the foregoing, Buyer acknowledges that such tease is being entered into solely as a means of fulfilling the express intent of the parties that Declarant shalt retain all Littoral rights relating to the Land and the lease, and its execution thereof by DecLarant, shalt not be deemed or construed to confer upon Buyer, or its successors and assigns, any Littoral rights relating to the Land. 5.02. ADDITIONAL PURCHASE PRICE. In the sole option and discretion of DecLarant, Declarant may elect for any violation of the Restrictions itemized in Section 5.01, as its exclusive remedy and in Lieu of any remedies permitted by this Instrument, to obligate Buyer to pay to DecLarant, as compensation for DecLarant's right, title and interest in and to the Waterway, within thirty (30) days after written demand, an additional purchase price for the Land computed as described below, together with interest thereon at the maximum rate then permitted by Low accruing from and after the occurrence of any such event until the date of actual payment. Buyer's obligation to pay such additional purchase price shalt be secured by the Lien of this Instrument described in Section 3.03(d) above, and shalt be subject to the power of sale provisions therein. No failure by Declarant to exercise its rights to require one or more of such payments, and no prior exercise of such as to a previous violation, shalt constitute a waiver of DecLarant's rights to require such payment at any Later time or times white this Instrument is still in effect, and so Long as any such violation may continue. 5.03. DETERMINATION OF ADDITIONAL PURCHASE PRICE. The additional purchase price resulting from a violation of this Instrument identified in Section 5.01 shalt be the greater of (a) the difference between the then current fair market value of the Land and the Waterway based on the use of the Land and the Waterway by Buyer and predicated on the assumption that the use and ownership of the Waterway by Buyer is authorized and permitted herein, and the then current fair market value of the Land (without the Waterway) based on the use of the Land by Buyer and the use and ownership of the Waterway by Setter as permitted herein, or (b) the then current fair market value of the Waterway. In the event the parties are unable to agree, "current" fair market value shalt be determined by the appraisal process provided in Section 3.04(b) hereof. The additional purchase price shalt be due on the date of notification to Buyer by Declarant or such Later date as the additional price is determined as herein provided. At such time as the additional purchase price is paid by Buyer, DecLarant shalt transfer, to Buyer at Buyer's expense, fee ownership of all Littoral rights, rights to use the Waterway and the improvements located thereon, and such other related rights to Buyer, and such permits and Licenses as may be necessary for fee ownership of the foregoing; provided that all of the foregoing shalt be Leased to DecLarant by Buyer pursuant to the tease between the parties of even date herewith. ARTICLE VI MISCELLANEOUS PROVISIONS 6.01. WAIVER. No waiver by Dectarant of a breach of any of the Restrictions by Buyer and no delay or failure to enforce any of the Restrictions shalt be construed or held to be a waiver of any succeeding or preceding breach of the same or any other of the Restrictions. No waiver of any breach or default of Buyer hereunder shalt be implied from any omission by DecLarant to take any action on account of such breach or default if such breach or default persists is repeated, and no express waiver shalt affect a breach or default other than as specified in said waiver. The consent or approval by DecLarant to or of any act by Buyer requiring Dectarant's consent or approval shalt not be deemed to waive or render unnecessary DecLarant's consent or approval to or of any subsequent similar acts by Buyer. 6.02- ADVANCES BY DECLAPANT. Upon ten (10) days written notice to Buyer and Buyer's failure to take appropriate action to protect and preserve DecLarant's security for its rights and interests under this Agreement within such ten (10) day period, DecLarant shalt be entitled to advance any sums DecLarant deems ne,cessary, in its sole discretion, to protect and preserve the security for its rights and interest under this Instrument (including, but not Limited to, sums for completion of construction of any Improvements on the Land, any property taxes or assessments, insurance premiums, or amounts secured or represented by encumbrances or Liens or other charges on any portion of the Land which appear to be prior to Declarant's rights and interest urider this instrument), all of which advances (together with interest at the maximum rate then permitted by Law) shalt be secured by the Lien of this instrument described in Section 3.03(d) above, and shalt be subject to the power of sale provisions in this instrument if Buyer fails to reimburse DecLarant for such advances within ten (10) days after demand from Dectarant. 6.03. COSTS OF ENFORCEMENT. In the event any Legal or equitable action or proceeding shalt be instituted between Dectarant and Buyer to enforce any provision of this instrument, the party prevailing in such action NB1-143166.V1 01/12/93 shalt be entitled to recover from the Losing party all of its costs, including court costs and reasonable attorneys' fees, charges and reimbursements. 6.04. RIGHTS OF LENDERS. No breach or violation of the Restrictions shalt defeat or render invaLid the Lien of any mortgage, deed of trust or similar instrument securing a Loan made in good faith and for vatue by an institutional tender with respect to the acquisition or permanent financing of the Land or any portion thereof, or with respect to the construction of Improvements thereon. However, this Instrument and at[ provisions hereof shalt be binding upon and effective against any subsequent owner or other occupant of the Land or portion thereof whose title is acquired by foreclosure, trustee's sate, deed in Lieu of foreclosure or otherwise, but such subsequent owner shalt have a reasonable period of time after taking title to cure any continuing violation hereunder that is reasonably capable of being cured provided that such subsequent owner continuously and diLigentty acts to effect such cure. 6.05. ASSIGNMENT BY DECLARANT. Any and all of the rights, powers, duties and reservations of Dectarant herein contained may be assigned to any person or entity which will assumie the duties of DecLarant pertaining to the particular rights, powers and reservations assigned, and upon any such person or entity evidencing its consent in writing to accept such assignment and assume such duties, such assignee shalt, to the extent of such assignment, have the same rights and powers and be subject to the same obligations and duties as are given to and assumed by DecLarant herein. 6.06. ' TERP41MATION OR AMENDMENT. The Restrictions may be validly terminated, amended, modified or extended, in whole or in part, only by recordation in the Official Records of the County of Orange of a proper instrument duty executed and acknowledged by DecLarant and Buyer to that effect. 6.07. CAPTIONS. The captions used herein are for convenience only and are not a part of this Instrument and do not in any way limit or amplify the scope or intent of the terms and provisions hereof. 6.08. ' INVALIDITY OF PROVISION. If any provision of this Instrument as applied to DecLarant or Buyer or to any circumstance shalt be adjudged by a court of competent jurisdiction to be void, invalid, illegal or unenforceable for any reason, the same shalt in no way affect (to the maximum extent permissible by taw) any other provision of this Instrument, the application of any such provision under circumstances different from. those adjudicated by the court, or the validity or enforceabitity of the instrument as a whole, and any provision so adjudged to be void, invalid, illegal or unenforceable for any reason shalt be replaced, if possible, with a valid provision that is enforceable and most nearly carried out the original intent of the parties hereto. 6.09. NOTICES. ALL notices, consents, requests demands and other communications provided for herein shat L be in writing and shalt be deemed to have been duty given if and when personalty served or forty-eight (48) hours after being sent byUnited States registered mail, return receipt requested, postage prepaid, to the other party at the following respective addresses: DECLARANT: THE IRVINE COMPANY P.O. Box I Newport Beach, California 92658-8904 Attention: Mr. Stephen Brahs COPY TO: IRVINE HOTEL ANY P.O. Box I Newport Beach, California 92658-8904 Attention: General Counsel BUYER: MARVIN 0. BURTON, AS TRUSTEE 121 East Hopkins Aspen, Colorado 81611 COPY TO: DOUGLAS P. ALLEN, ESQ. 600 East Hopkins, Suite 302 Aspen, Colorado 81611 or at such other address as the Declarant of the Buyer may designate to the other in writing. 6.10. APPLICATION TO DECLARANT. Notwithstanding anything herein contained to the contrary, if DecLarant reacquires title to the Land or any portion thereof at any time after the date hereof, the Restrictions shalt automatically cease and terminate and be of no further force or effect as to DecLarant and such property, effective as of the date of such reacquisition by Declarant. 6.11. TIME OF THE ESSENCE. Time is of the essence of each provision of this Instrument in which time is an element. 6.12. OTHER RESTRICTIONS , . This Instrument may not be the exclusive source of restrictions on the use of the Land, and nothing herein contained shalt prejudice or diminish in any way DecLarant's rights under any other documents of record from time to time affecting all or any portion of the Land. 6.13. NON -MERGER OF FEE AND LEASEHOLD ESTATE. Buyer acknowledges that no merger of the fee estate in the Land and the Leasehold estate of the Lessee under the Ground Lease shalt occur so Long as any sum is owed either (i) to DecLarant under that certain Purchase Agreement and Escrow Instructions pursuant to which Buyer acquired Land from Dectarant or (ii) any third party mortgagee providing purchase money financing for such acquisition. So Long as any sum is owed as aforesaid, Buyer shalt keep in force the Ground Lease and shalt not modify, amend, --- -- -- �tr-.-.-;se alter the Ground Lease in any manner, and any such purported modification, amendment, termination, surrender or other alteration of the Ground Lease shalt not be binding upon or effective as to Dectarant or such mortgagee. NB1-143166.V1 01/12/93 IN WITNESS WHEREOF, the undersigned has executed this Instrument as of the date first above written DECLARANT: THE IRVINE COWANY, A Michigan Corporation By: DonaLd McNutt Vice President By: Stephen A. Brahs Assistant Secretary ACCEPTED AND AGREED TO: BUYER: MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED KAY 25, 1982 NBl-143166.Vl 01/12/93 STATE OF CALIFORNIA COUNTY OF ORANGE on , personally appeared I personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose nanvs are subscribed to the within instrument and acknowLedged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF ORANGE . on , personally appeared I personally known to me (or proved to me on the basis of satisfactory evidence) to,be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon, behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF ORANGE On personalty appeared personalty known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF ORANGE On personalty appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my band and official seat. Notary Public in and for said County and State NBl-143166.Vl 9 01/12/93 EXHIBIT A LEGAL DESCRIPTION OF THE LAND 333 Baysid Parcel 1: Lot 8, in the City of Newport Beach, County of orange, State of California, as per map recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County. Parcel 2: A non-exc(usive easement for ingress and egress over Lots A and C as shown on a map fi Led in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County, described as follows: Beginning at the most Easterly corner of said Lot C; thence along the boundary Line of said Lot C the fot [owing three courses North 84* 211 1111 West 122.02 feet, North 44* 331 0911 West 39.05 feet and North 5* 281 32" East 22.59 feet to a point on the Southerly Line of the land described as Parcel 70046-1 in Deed to the State of California recorded January 10, 1979 in Book 12996, Page 119 of Official Records of said County, thence along said Southerly tine the following three courses, South a8* 301 5911 East 56.66 feet, Easterly along a tangent curve concave Southerly having a radius of 938.00 feet through a central angle of 2* 431 031, an arc distance of 44.49 feet and South 59* 151 3311 East 28.93 feet to a point on the Southwesterly tine of Bayside Drive 76.00 feet wide, being also a point on the Northeasterly Line of said Lot C; thence along said Northeasterly Line, South 25* 141 0011 East 48.48 feet to the point of beginning. N`B1-143166.V1 A-1 01/12/93 EXHIBIT 8 SPECIFIC RESTRICTIONS Permitted Use: Office, retail, restaurant and other commerciaL uses which are approved by ak appticabte governmental agencies and authorities; provided than in no event shall "Permitted Use" incLude any type of residential use whatsoever. Maximum Gross Floor Area: 17,400 square feet Height Limitation: 35 feet NB1-143166.V1 B-1 01/12/93 LEGAL DESCRIPTION OF OREMEFITED PROPERTY - 1. 500 AND 550 NEWPORT CENTER DRIVE Parcel A: Beginning at the easterly terminus of that certain course in the northerly right of way tine of San Nicolas Drive shown as south 80 degrees, 14 minutes, 38 seconds east 91.45 feet on Map of Tract 6015 fi Led in Book 239, pages 28 through 41 of Miscel Laneous Maps, in the Office of said County Recorder; thence along the right of way tines of said San Nicolas Drive, Newport Center Drive East and Santa Rosa Drive as shown on said Map. The following courses and distances, north 80 degrees, 14 minutes, 38 seconds west 91.45 feet to the beginning of a curve concave northeasterly having a radius of 25.00 feet, northwesterly 38.16 feet along said curve through an angle of 87 degrees, 26 minutes, 49 seconds to the beginning of a reverse curve concave westerly having a radius of 1670.00 feet; northerly 472.13 feet along said curve through an angle of 16 degrees, 11 minutes, 54 seconds to the beginning of a reverse curve concave southeasterly having a radius of 25.00 feet; northeasterly 38.16 feet along said curve through an angle of 87 degrees, 26 minutes, 49 seiconds, north 78 degrees, 27 minutes, 06 seconds east 69.97 feet to the beginning of a curve concave northwesterly having a radius of 825.50 feet, northeasterly 195.27 feet along said curve through an angle of 13 degrees, 33 minutes, 11 seconds to a point of a non -tangent curve concave southwesterly having a radius of 25.00 feet, a radial to said point bears north 35 degrees, 38 minutes, 46 seconds east; thence southeasterly 4.81 feet along said curve through an angle of 11 degrees, 01 minutes, 42 seconds to the beginning of a reverse curve concave northeasterly having a radius of 161.00 feet; thence southeasterly 91.20 feet along said curve through an angle of 32 degrees, 27 minutes, 16 seconds to the beginning of a reverse curve concave southwesterly having a radius of 25.00 feet; thence southerly 32.67 feet along said curve through an angle of 74 degrees, 53 minutes, 02 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 25.50 feet to the beginning of a curve concave northwesterly having a radius of 2.00 feet; thence southwesterly 3.14 feet along said curve through an angle of 90 degrees, 00 minutes, 00 seconds to the beginning of a reverse curve concave southeasterly having a radius of 2.00 feet; thence southwesterly 3.14 feet along said curve through an angle of 90 degrees, 00 minutes, 00 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 179.75 feet to the beginning of a curve concave northwesterly having a radius to 10.00 feet; thence southwesterly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 36 degrees, 51 minutes, 54 seconds west 9.49 feet to the beginning of a curve concave southeasterly having a radius of 10.00 feet; thence southerly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 31.50 feet to "Point All hereinafter referred to; thence continuing south 0 degrees, 53 minutes, 46 seconds east 31.50 to the beginning of a curve concave northeasterly having a radius of 10.00 feet; thence southeasterly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 38 degrees, 39 minutes, 26 seconds east 9.49 feet to the beginning of a curve concave southwesterly having a radius of 10.00 feet; thence southerly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 212.75 feet to the beginning of a curve concave northwesterly having a radius of 25.00 feet; thence southwesterly 24.40 feet along said curve through an angle of 55 degrees, 55 minutes, 53 seconds to the beginning of a reverse concave southeasterly having a radius of 147.00 feet; thence southwesterly 66.40 feet along aid curve through an angle of 25 degrees, 52 minutes, 43 seconds to the beginning of a reverse curve concave northwesterly having a radius of 25.00 feet; thence southwesterly 9.78 feet along said curve through an angle of 22 degrees, 24 minutes, 25 seconds to a point on a non -tangent curve concave southerly having a radius of 950.50 feet and the northerly right of way line of said San Nicolas Drive, :radial to said point bears north 22 degrees, 12 minutes, 47 seconds east; thence westerly 206.65 feet along aid curve through an angle of 12 degrees, 27 minutes, 25 seconds to the point of begirning. It. 610 NEWPORT CENTER DRIVE Parcel A: That portion of Lot 22 of Tract No. 6015, in the City of Newport Beach, County of Orange, State of California, as shown on a Map recorded in Book 239, pages 28 through 41, inclusive, of Miscellaneous Maps, in the office of the County Recorder of said County; tying southeasterly of the boundary of a Map filed in Book 25, page 14 of Parcel Maps, Records of said County. 111. 690 NEWPORT CENTER DRIVE Parcel 8: Parcels 2 and 3 of Parel Map No. 83-715, in the City of Newport Beach, County of Orange, State of California, as shown on a Map f I led In Book 196, pages 13 through 16, inclusive, of Parcel Maps, in the off ice of the County Recorder of said County. IV. FASHION ISLAND Parcel A: Parcels I through 9, inclusive, in the City of Newport on Parcel Map No. 86-399 as per Map filed in Book 221, Office of the County Recorder of said County. Parcel 8: Beach, County of Orange, State of California, as shown pages 30 through 36, inclusive, of Parcel Maps, in the Lots 13 through 17, inclusive, Lots 0, R, S, U, R-1, R-2, and R-3 of Tract No. 6015, in the City of Newport Beach, County of orange, State of California, as per Map recorded in Book 239, pages 28 through 41, inclusive, of MiseLtaneous Maps, in the Office of the County Recorder of said county. Parcel C: Parcel 1, in the City of Newport Beach, County of Orange, State of California, as shown on a Parcel Map filed in Book 67, pages 2 and 3 of Parcel Maps, in the office of the County Recorder of said County. Parcel D: Parcel 1, in the City of Newport Beach, County of Orange, State of California, as shown on a Parcel Map filed in Book 75, page 48 of Parcel Maps, in the Office of the County Recorder of said County. Parcel E: Parcel 4 of Parcel Maps, as shown on a Map filed in Book 67, pages 2 and 3 of Parcel Maps and Lot W of Tract No. 6015, as per Map recorded in Book 239, pages 28 through 41, inclusive, of Misetlaneous Maps, all in the City of Newport Beach, County of Orange, State of California, in the Office of the County Recorder of said County, lying within the Land described as Parcels 1 and 2 of that certain Lot Line Adjustment N.B.L.L.A. 87-3, recorded November 13, 1987, as Instrument No. 87-640346, Official Records of said County. FI.EXC Exhibit C to Declaration 11/11/91 EXHIBIT E F0RM OF NOTE N81 -143164.V1 E-1 01/18/93 PURCHASE MONEY PROMISSORY MOTE (333 Hayside Drive) $375,000.00 MAKER'S PROMISE TO PAY 1 1993 Newport Beach, California FOR VALUE RECEIVED, MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED KAY 25, 1982 ("Maker") promise to pay to the order of THE IRVINE COMPANY, a Michigan corporation ("Payee), at the address set forth in Section 3 hereof, the principal sum of Three Hundred Seventy -Five Thousand Doi�ars (S375,000), together with accrued interest on the unpaid principal balance at the appLicable rate as set forth in Section 2 hereof. Maker acknowledges and agrees that Payee may assign or otherwise transfer this Note at any time. Payee or anyone who takes this Note by any such transfer and who is entitled to receive payments under this Note is sometimes hereinafter referred to as the NNote HoLder.0 2. INTEREST The unpaid principal balance hereof shall bear interest from the date the Deed of Trust (as defined in Section 12 hereof) is recorded in the Official Records of orange County, California (the "Initial Datem) and shall continue until the full amount of principal hereof has been paid. Commeming on the Initial Date and continuing until the five (5) year anniversary of the first Ost) day of the calendar month following the Initial Date or, if the initial Date is the first Ost) day of a calendar month, the five (5) year anniversary of the Initial Date (the "Katurity DateA), interest on the unpaid principal balance hereof shall be calculated at a per annum rate equal to the per annum interest rate announced by Wells Fargo Bank, N.A. on,the Initial Date, or on such other subsequent date as hereinafter provided, as its "prime rate,, to commercial customers, plus one percent (1%) (the "Interest Rate"); provided, however, that on the first (1st) day of the calendar month following the Initial Date and on the first (1st) day of each calendar month thereafter unti L the fuL L amount of principal hereof has been paid, the Interest Rate shalt be recalculated in the same manner set forth above (with the use of the "prime rate" announced by We�Ls Fargo Bank, N.A. on the first Ost) day of such calendar month or, if such day is not a business day, then on the next succeeding business day provided that any adjustment to the Interest Rate shall be effective as of the Ost) day of such month) and any adjustment made to the then existing Interest Rate shall be effective as of such date and shalt continue until any subsequent adjustment is made to the Interest Rate as provided herein. If, at any time, Wells Fargo Bank, N.A. shall not publicly announce its "prime rate," then the "prime rate" shall be the highest reference, base or prime rate in effect as announced by the largest bank (in terms of capital and surplus) having its principal offices in Los Angeles, California. Interest shall be catcutated on the basis of a 360 -day year. Notwithstanding the foregoing, upon the occurrence of an Event of Defautt as described in Section 6(a) below, and for so Long as such default continues, the sum(s) of principal and accrued interest then due and payable hereunder, whether by acceleration or otherwise, shall bear interest at the rate of the then -current Interest Rate plus four percent (4%) per annum (the "Default Rate"). 3. PAYMENT NOTICE TO MAKER: THE PAYMENT OF PRINCIPAL AND INTEREST AND ANY OTHER SLIMS THEN DUE HEREUNDER IS A BALLOON PAYMENT. MAKER HAS NO RIGHT WHATSOEVER TO EXTEND OR RENEW THIS NOTE WHEN THE BALLOON PAY14ENT BECOMES DUE ON THE MATURITY DATE. NOTE HOLDER IS UNDER NO OBLIGATION TO REFINANCE THE LOU AT THAT TIME. Maker shall prepay through escrow the amount of interest which will accrue on this Note at the Interest Rate from the Initial Date up to the first (1st) day of the calendar month immediately following the Initial Date; provided that if such initial Date shall be the first Ost) day of a calendar month, then no prepayment of interest by Maker shall be required. Maker shall make monthly payments of interest only under this Note in the amount of Dollars (S ) (based upon 30 year amortization] beginning on the first (1st) day of the second (2nd) calendar month following the Initial Date (the "First Payment Date") and on the first (1st) day of each and every calendar month thereafter until the Maturity Date. On the Maturity Date, the entire unpaid principal balance hereof, together with accrued but unpaid interest thereon and any other sums then due hereunder, shalt immediately become due and payable in full. If all sums of principal and accrued unpaid interest and other amounts due under this Note are not paid on the Maturity Date, then all of such sums shall bear interest from the Maturity Date until paid in full at the Default Rate as adjusted from time to time. Any payments received by Note Holder pursuant to the terms hereof shalt be applied first to the payment of any sums, other than principal and interest, due Note Holder pursuant to the terms hereof, next to the payment of all interest accrued to the date of such payment, and then to the payment of principal. ALL payments hereunder are payable in Lawful money of the United States of America to The Irvine Company, 550 Newport Center Drive, Newport Beach, California 92660, Attention: Irvine Investment Company, or at such other place as the Note Holder hereof may designate from time to time. 4. MAICERIS RIGHT TO PREPAY Maker shalt have the right to prepay all or part of the unpaid principal balance hereof, together with accrued but unpaid interest thereon, at any time without penalty. 5. INTEREST RATE LIMITATION Note Holder and Maker hereby stipulate and agree that the transaction contemplated hereby is not subject to the usury Laws of the State of California. it is determined that the transaction contemplated hereby is subject to the usury Laws of the State of California, Note Holder and Maker stipulate and agree that none of the terms and provisions contained herein or in any document or instrument executed in connection herewith shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the Laws of the State of California. If any Note Holder shall coLLect monies which are deemed to constitute interest which would otherwise increase the effective interest rate on this Note to a rate in excess of the maximum rate permitted to be charged by the taws of the State of California, all such sums deemed to constitute interest in excess of such maximum rate shall, at the option of Note Holder, be credited to the payment of the sums due hereunder or returned to Maker. NB1-143167.V1 1 01/12/93 6. DEFAULT The occurrence of any of the following shall be deemed to be an "Event of Default" under this Note: (a) the failure of Maker to pay interest and any other sums within fifteen (15) days after written notice from Payee that such amounts are delinquent or the failure of Maker to pay principal when due pursuant to the terms hereof; (b) the failure of Maker to fully comply with any other covenant or obligation under this Note; (c) the failure of Maker to fully comply with any covenant or obligation under the Deed of Trust or any other security instrument now or hereafter securing this Note (collectively, the "Security Documents"); (d) a default by maker under any other document evidencing the creation of a Lien or other encumbrance against the Property (as defined in the Deed of Trust), or any portion thereof, incLuding, without Limitation, the Declaration (as defined in the Deed of Trust); provided, however, that nothing in this subparagraph shalt be deemed a consent by Note Holder to the creation of any such Lien or encumbrance, - or (e) a default by 341 Bayside Drive, Inc., a California corporation under (i) that certain Purchase Money Promissory Note of even date herewith executed by such parties in favor of Payee, or (ii) that certain Purchase Money Deed of Trust and Assignment of Rents of even date herewith executed by such parties, as trustor, in favor of Payee, as beneficiary. 7. REMEDIES Upon the occurrence of an Event of Default hereunder, Note Holder may, in its sole and absolute discretion and without demand or notice to Maker, (a) declare the entire unpaid balance hereof, together with accrued but unpaid interest thereon and any other sums then due hereunder, immediately due and payable, (b) take all actions and pursue all remedies permitted under the Security Documents, and (c) exercise any and all rights and powers and pursue any and all remedies now or hereafter available under applicable Law. No delay or omission on the part of Note Holder in exercising any right or remedy under this Note, the Deed of Trust or any other Security Document shall operate as a waiver of such right or remedy. 8. LATE CHARGE If any payment due hereunder is not received by the Note Holder within ten (10) calendar days after the date such payment is due, Maker shall pay to Note Holder, without demand, a Late charge in an amount equal to four percent (4%) of the amount past due. It would be impracticable or extremely difficult to fix the Note HoLder's actual damages if payment is not paid when due hereunder, and said Late charge shall be deemed to be the Note HoLder's damage for any such late payment, but shall not Limit the Note Holder's right to compel prompt performance of any obligation or to exercise any other remedy under this Note, the Deed of Trust or any other Security Document. No Late charge assessed shall exceed the maximum permitted by Law. 9. NOTICES Any notice, request, demand, instruction or other communication to be given to any party hereunder shall be in writing and shall be deemed to have been duLy given three (3) business days after deposit in the United States mail or, if personally delivered or sent by registered or certified mail, return receipt requested, when delivered, as follows: If to Maker: MARVIN 0. BURTON, AS TRUSTEE 121 East Hopkins Aspen, Colorado 81611 copy to: Douglas Allen, Esq. 600 East Hopkins, Suite 302 Aspen, Colorado 81611 If to Payee: THE IRVINE COMPANY c/o Irvine Investment Company P.O. Box I Newport Beach, California 92658-8904 Attn: Mr. Brian McDonald The addresses and addresses for the purpose of this paragraph may be changed by giving written notice of such change in the manner herein provided for giving notice. However, unless and unti L such written notice of charge is actually received, the Last address and addresses as stated by written notice, or provided herein if no written notice of change has been received, shall be deemed to continue in effect for all purposes hereunder. 10. WRIVERS Maker herebywaives diligence, presentment, protest and demand, notice of protest, demand, dishonor and nonpayment of this Note, and notice of intention to accelerate the maturity of this Note and expressly agrees that, without in any way affecting the Liability of Maker hereunder, Note Holder may extend any maturity date or the time for payment of any installment due hereunder, accept additional security, release any party Liable hereunder and release any security now or hereafter securing this Note. Maker further waives, to the full extent permitted by Law, the right to plead any and aLL statutes of limitations as a defenge to any demand on this Note, or on any deed of trust, security agreement, Lease assignment, guaranty or other agreement now or hereafter securing this Note. Maker hereby waives all rights of setoff and counterclaim with respect to this Note, including rights of setoff and counterclaim with respect to this Note which may arise from 'claims heretofore unknown to Maker. 11. ATTORNEYS9 FEES If the Note Holder seeks Legal advice following a default by Maker hereunder or refers this Note to collection or to reclaim, protect, preserve or enforce its interest in this Note, in the Deed of Trust or in any other Security Document, then Maker shall pay all reasonable attorneys, fees and expenses and other costs relating thereto. NB1-143167.V1 01/12/93 12. THIS NOTE SECURED BY A DEED OF TRUST This Note is secured by a Deed of Trust and Assigriment of Rents of even date herewith executed by Maker, as trustor, to Chicago Title Insurance Company, as trustee, and naming Payee, as beneficiary (the "Deed of Trust"), which Deed of Trust shalt be recorded in the Official Records of Orange County, California. 13. ACMILERATION BY REASON OF TRANSFER The Deed of Trust contains the following Limitations on the right of maker to transfer the Property or any beneficial interest in Maker: "Trustor shalt not transfer the Property or any portion thereof or interest therein without the prior written consent of Beneficiary, which consent shalt not be unreasonably withheld. Without Limiting the generality of the foregoing, Trustor acknowledges and agrees that it shalt not be unreasonable for Beneficiary to withhold its consent to any transfer of the Property or an interest therein or a portion thereof to a person or entity whose net worth is less than One Million Dollars ($1,000,000) as of the date of such proposed transfer. If consent should be given, any such transfer shalt be subject to this Deed of Trust, and any transferee shalt assume all of Trustor's obligations hereunder and agree to be bound by aLL provisions and perform all obligations contained herein. In the event of any such transfer without the written consent of Beneficiary, Beneficiary may, at its option, without demand or notice, declare all sums secured hereby immediately due and payable. Consent to one such transfer shalt not be deemed to be a waiver of the right to require consent to future or successive transfers. As used herein, the term "transfer" shalt mean: (a) the sale, agreement to sell, grant of any option to purchase, conveyance or other transfer of the Property, or any portion thereof or interest therein, whether votuntariLy, involuntarily, by operation of Law or otherwise, or the [ease of the Property, or any portion thereof, but shalt not include 0) the conveyance of easements reasonably necessary for the development of the Property, (ii) the Leasing of space in any improvements now or hereafter Located on the Property in the ordinary course of Trustor's business, or (iii) the assignment of the Lessee's interest under that certain ground Lease dated September 21, 1967, as amended from time to time prior to the date hereof, between Beneficiary, as Lessor, and Marvin 0. Burton, an individual, as Lessee (the "Ground LeasAel) to a third party provided that such assignment does not require the prior consent or approval of the Lessor thereunder; (b) any transfer by way of security, including the placing or permitting the placing on the Property of any mortgage, deed of trust, assignment of rents or other security device, but shalt not include any encumbrance now or hereafter existing solely against the lessee's LeasehoLd estate under the Ground Lease; or (c) the transfer of a "controlling interest" in Trustor or a transfer of a "control Ling interest" in any general partner of Trustor which is a joint venture or general or Limited partnership, whether voluntarily, invoLuntarity, by operation of Law or otherwise. For purposes hereof, the term "controlling interest" shalt mean any transfer or other disposition of any interest in such entity whereby the effective control of the management of such entity is attered, Limited or otherwise modified in any mariner." 14. SEVERABILITY Every provision of this Note is intended to be severable. In the event any term or provision hereof is declared by a court of competent jurisdiction to be iLLegat or invalid for any reason whatsoever, such iLtegality or invalidity shalt not affect the balance of the terms and provisions hereof, which terms and provisions shalt remain binding and enforceable, and any provision so adjudged to be void, invalid, iLLegat or unenforceable for any reason shalt be replaced, if possible, with a valid provision that is enforceable and most nearly carries out the original intent of the parties hereto. 15. NLNIRER AND GENDER In this Note the singular shalt include the plural and the masculine shalt include the feminine and neuter gender, and vice versa, if the context so requires. 16. TIME IS OF THE ESSENCE Time is strictly of the essence under this Note and any amendment, modification or revision hereof. 17. CHOICE OF LAW This Note shalt be governed by and California. In the event of a dispute hereunder, a court of competent jurisdiction in Orange County, jurisdiction of such court. 18. JOINT AND SEVERAL LIABILITY construed in accordance with the Laws of the State of it is agreed that the sole and exclusive venue shalt be in California, and the parties hereto agree to submit to the If this Note should be signed by more than one party, the Liability under this Note of each party shalt be joint and several. In addition, if Maker is a partnership, the liability under this Note of each general partner of maker, and the liability of each general partner of a partnership which is itself a general partner of Maker, shatt be joint and several. 04akerg MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED MAY 25, 1982 NB1-143167.V1 01/12/93 EXHIBIT F FORM OF PURCHASE MONEY DEED OF TRUST N81 -143164.V1 F-1 01/18/93 RECORDING REOUESTED BY, AND WHEN RECORDED, MAIL TO: THE IRVINE C014PANY c/o Irvine Investment Company 550 Newport Center Drive, Fifth Floor Post Office Box I Newport Beach, California 92658-8904 Attention: Mr. Brian McDonald (Space above for Recorder's Use Only) PURCHASE MONEY DEED OF TRUST AND ASSIGNMENT OF RENTS (333 Sayside Drive) This PURCHASE MONEY DEED OF TRUST AND ASSIGNMENT OF RENTS ("Deed of Trust") is made this day of � 1993, between MARVIN 0. BUIRTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED KAY 25, 1982 ("Trustor"), whose address is 333 Bayside Drive, Newport Reach, California 92660, CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, whose address is 825 North Broadway, Santa Ana, California 92701 ("Trustee'), and THE IRVINE COMPANY, a Michigan corporation, whose address is 550 Newport Center Drive, Fifth Floor, Post Office Box 1, Newport Beach, California 92658-8904, Attn: Irvine Investment Company - Mr. Brian McDonald ("BeneficiarYl). WITNESSETH: That Trustor irrevocably grants, assigns and transfers to Trustee in Trust, with Power of Sale: GRANTING CLAUSE FIRST The real property in the County of Orange, State of California, described as: As per Exhibit A attached hereto and made a part hereof by reference. Together with (a) all the rights, rights of way, easements, privileges, hereditaments and appurtenances now or hereafter in any way appertaining or belonging thereto, (b) any additional real property acquired by Trustor which is merged into or becomes a part of a Legal parcel containing all or any part of such real property (by reason of a tot Line adjustment, re -subdivision of said real property and other property, or otherwise), (c) all buildings and improvements of every kind and nature now or hereafter placed or erected upon said real property, and (d) the rents, issues and profits thereof, subject to the right, power and authority hereinafter given to and conferred upon Beneficiary to collect and apply such rents, issues and profits. GRANTING CLAUSE SECOND ALL that certain personal property used in the operation of the real property described in GRANTING CLAUSE FIRST, whether now owned or hereafter acquired, including but not limited to all furniture, fixtures and equipment, including maintenance equipment and other decorations, and all renewals, replacements or substitutions thereof or additions thereto, and all materials and equipment acquired for use in or to be incorporated in the improvements constructed or to be constructed on said real property, and ail renewals and replacements therefor, and ail warranties in which Trustor may now or hereafter have an interest relating to work, Labor, skill or materials furnished in connection with the construction of any improvements on said real property'and all plans and specifications which have been or will be prepared by or for Trustor related to improvements on said real property or to the adjacent Lands of Beneficiary, whether constructed or not. ALL of said reat,and personal property granted, assigned and transferred by Trustor to Trustee together with ail other property hereafter granted, assigned and transferred to Trustee under this Deed of Trust is herein called the "Property." For the purpose of securing (1) aLL of the obligations of Trustor under that certain Purchase Money Promissory Note of even date herewith, in the original principal amount of Three Hundred Seventy -Five Thousand Dollars ($375,000), executed by Trustor, as maker, in favor of Beneficiary, as payee, and any and aLL modifications, extensions, renewals and replacements thereof (the "Note), together with interest thereon, according to the terms of the Note (which, by reference is hereby made a part hereof), and the performance of each and every obligation, covenant and agreement of Trustor contained in the Note; (2) the performance of each agreement of Trustor incorporated by reference or contained herein; (3) payment of any sums and interest thereon which may hereafter be loaned to Trustor, or the then owner of the Property, when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust; (4) payment of all sums, with interest thereon at the rate of interest provided herein, which may be expended by Beneficiary or Trustee in protecting the security of this Deed of Trust; and (5) performance of any obligation of Trustor to Beneficiary which may hereafter be evidenced by an agreement or other writing reciting that such obligation is secured by this Deed of Trust. Notwithstanding the foregoing, this Deed of Trust shall not secure the performance of any obligations of Trustor under that certain Declaration of Special Land Use Restrictions, Mortgage Lien and Option to Repurchase of even date herewith by and between as fsuyer, and Beneficiary, as DecLarant, relating to the Property, or any poFtion nereof (and ar,i amendments or modifications thereto) (the "Dectaratior0l). A. To protect the security of this Deed of Trust, Trustor agrees: (1) To keep the Property in good condition and repair; not to remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building which may be constructed, damaged or destroyed thereon and to pay when due all claims for Labor performed and materials furnished therefor; to comply with all Laws affecting the Property or requiring any alterations or improvements to be made thereon; not to commit or permit waste thereof; not to commit, suffer or permit any act upon the Property in violation of Law; to maintain, cultivate, irrigate, fertiLize, fumigate, prune and do ail other acts which from the character or use of the Property may be reasonably necessary, the specific enumerations herein not excluding the general. NBI-143165.Vl 1 01/12/93 (2) (a) To maintain or cause to be maintained, with a reputable company or companies and otherwise in form and substance acceptable to Beneficiary, 0) comprehensive general liability insurance, or) a per occurrence basis, with respect to the Property and the operations of or on behalf of Trustor on or about the Property, including but not limited to owned and nonowned automobile (vehicle) liability, personal, injury (including coverage for Groups of Offenses A, B and C with exclusion (c) deleted), blanket contractual, broad form property damage and product/compLeted operations Liability coverage for not less than one million dollars (Sl,000,000.00) combined single Limit bodily injury, death and property damage Liability per occurrence, or the current limit of Liability carried, whichever is greater; 0i) property insurance against Loss or damage to any improvements now or hereafter Located on the Property by fire and any of the risks covered by insurance of the type known as "all risks of physical Loss coverage" in an amount not Less than the full replacement cost of such improvements (exclusive of the cost of excavations, foundations and footings below the Lowest basement floor) and with a deductible from the Loss payable for any casualty in an amount which is acceptable to Beneficiary; and (iii) workers compensation insurance in an amount required by Law, together with employers Liability. (b) Trustor shalt provide that the policy or policies of cwprehensive general Liability insurance required above shalt be primary and shalt name Beneficiary as additional insured, as indicated below, and shalt apply severally to Beneficiary and Trustor, with the provisions that any other insurance carried by Beneficiary shalt be noncontributing. Such policy or policies shalt contain a provision that the naming of an additional insured would not negate any right the additional insured would have had as claimant under the policy if not so named. For purposes of naming Beneficiary as additional insured, the following provision shalt be included within each applicable policy: "It is understood and agreed that coverage afforded by this Policy shall also apply to The Irvine Company, a Michigan corporation, and its officers, directors, agents, employees, divisions, subsidiaries, partners and affiliated companies as additional insureds, but only with respect to Legal Liability or claims caused by, arising out of or resulting froin the acts or commissions of the named insured or of others performing acts on behalf of the named insured or the ownership or development of the Property." (c) To provide, maintain and deliver to Beneficiary such additional insurance as may be required from time to time by Beneficiary. During the period of time that any construction is to take place on the Property, Trustor shalt maintain or cause to be maintained course -of -construction insurance. (d) ALL policies of insurance required by the terms of this Deed of Trust shall be with companies approved by Beneficiary, shalt contain the standard noncontributory mortgagee clause and the standard Lenders' Loss payable clause, or their equivalents, in favor of Beneficiary, and shalt provide that the proceeds thereof shalt be payable to Beneficiary to the extent of its interest therein. In addition, all policies of insurance required by the terms of this Deed of Trust shalt contain an endorsement or agreement by the insurer that any Loss shalt be payable in accordance with the terms of such policy notwithstanding any act or negligence of Trustor which might otherwise result in forfeiture of said insurance and the further agreement of the insurer waiving all rights of set-off, counterclaim or deductions against Trustor. In the event of the foreclosure of this Deed of Trust or other transfer of title to the Property in extinguishment, in whole or in part, of the indebtedness secured hereby, all right, title and interest of Trustor in and to any insurance policy then in force shalt pass to the purchaser or grantee. Beneficiary shalt be furnished with a certificate of each policy required to be provided by Trustor hereunder, which certificate shalt provide that the policy may not be modified or cancelled without thirty (30) days written notice to Beneficiary. Upon request, Trustor shalt furnish Beneficiary with receipts for the payment of premiums on such insurance policies or other evidence of such payment reasonably satisfactory to Beneficiary. In the event Trustor does not deposit with Beneficiary a new certificate of insurance with evidence of payment of premium thereon at Least thirty (30) days prior to the expiration of any expiring policy, then Beneficiary may, but shalt not be obligated to, procure such insurance and Trustor shalt pay the premiums thereon promptly upon demand. Beneficiary shalt not by the fact of approving, disapproving, accepting, preventing, obtaining or failing to obtain any such insurance, incur any Liability for the form or Legal sufficiency of insurance contracts, solvency of insurers or payment of losses and Trustor hereby expressly assumes full responsibility therefor and all Liability, if any, thereunder. The amount collected under any casualty insurance policy may, subject to the provisions of the Ground Lease (as hereinafter defined), be applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine, or at the option of Beneficiary the entire amount so collected or any part thereof may be released to Trustor. Such application or release shalt not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. (3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee. (4) To pay: prior to delinquency all taxes and assessments affecting the Property, including assessments on appurtenant water stock, if any; when due, all other encumbrances, charges and liens, with interest, on the Property or any part thereof, which appear to be prior or superior hereto; and all allowable expenses of this Trust. (5) To pay when due all. utility charges which are incurred by Trustor for the benefit of the Property or which may become a charge or Hen against the Property for gas, electricity, water and sewer services furnished to the Property and all other assessments or charges of a similar nature, whether public or private, affecting the Property or any portion thereof, whether or not such taxes, assessments or charges are Liens thereon. (6) Trustor shalt not transfer the Property or any portion thereof or interest therein without the prior written consent of Beneficiary, which consent shalt not be unreasonably withheld. Without Limiting the generality of the foregoing, Trustor acknowledges and agrees that it shalt not be unreasonable for Beneficiary to withhold its consent to any transfer of the Property or an interest therein or a portion thereof to a person or entity whose net worth is Less than One Million Dollars ($1,000,000) as of the date Beneficiary may grant or deny such consent in its sole discretion and, if consent should be given, any such transfer shalt be subject to this Deed of Trust, and any transferee shalL assume all of Trustor's obligations hereunder and agree to be bound by all provisions and perform all obligations contained herein. In the event of any such transfer without the written consent of Beneficiary, Beneficiary may, at its option, without demand or notice, declare at( sums secured hereby immediately due and payable. Consent to one such transfer shalt not be deemed to be a waiver of the right to require consent to future or successive transfers. As used herein, the term "transfer" shalt mean: (a) the sate, agreement to sell, grant of any option to purchase, conveyance or other transfer of the Property, or any portion thereof or interest therein, whether voluntarily, involuntarily, by operation of law or otherwise, or the Lease of the Property, or any portion thereof, but shalt not include (i) the conveyance of easements reasonably necessary for the development of the Property, (ii) the Leasing of space in any improvements now or hereafter Located on the Property in the ordinary course of Trustor's business, or (iii) the assignment of the Lessee's interest under that certain ground Lease dated September 21, 1967, as amended from time to time prior to the date hereof, between Beneficiary, as Lessor, and Marvin 0. Burton, an individual as Lessee NBl-143165.Vl 01/12/93 (the "Ground Leasee") to a third party provided that such assignment does not require the prior consent or approval of the Lessor thereunder; (b) any transfer by way of security, including the placing or permitting the placing on the Property of any mortgage, deed of trust, assignment of rents or other security device, but shall not include any encumbrance now or hereafter existing solely against the Lessee's LeasehoLd estate under the Ground Lease; or (c) the transfer of a "controLLing interest" in Trustor or a transfer of a "controlLing interest" in any general partner of Trustor which is a joint venture or general or timited partnership, whether voluntarily, involuntarily, by operation of Law or otherwise. For purposes hereof, the term "controlling interest" shall mean any transfer or other disposition of any interest in such entity whereby the effective control of the management of such entity is altered, Limited or otherwise modified in any manner. (7) Should Trustor fail to make any payment or to do any act as provided in this Deed of Trust, then Beneficiary or Trustee, but without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may: make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon the Property for such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or Lien which in the judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay allowable expenses. Trustor agrees to pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest from date of expenditure at the maximum amount then allowed by Law. (8) Not to engage in any Hazardous Substance Activity (as hereinafter defined) or allow any other person or entity to do so in violation of any Environmental Law (as hereinafter defined). (9) To keep and maintain, and to cause all other persons or entities to keep and maintain, the Property in compliance with, and not to cause or permit the Property to be in violation of, any Environimental Law. (10) To immediately advise Beneficiary in writing of (a) any and all Hazardous Substance Claims (as hereinafter defined) against Trustor or the Property; (b) any remedial action taken by Trustor in response to any (i) Hazardous Substance in, on, under or about the Property or (ii) Hazardous Substance Claims; and (c) Trustor's discovery of any occurrence or condition on any real property adjoining or in the vicinity of the Property that could cause the Property or any part thereof to be classified as "border -zone property" under the provisions of California Health and Safety Code Sections 25220 e :' t seq., or any regulation adopted in accordance therewith, or to be otherwise subject to any restrictions on the ownership, occupancy, transferability or use of the Property under any Environmental Law. Trustor will provide Beneficiary with copies of all communications with federal, state and Local governments or agencies relating to Hazardous Substance Claims. (11) In the event any investigation, site monitoring, containment, cleanup, removal, restoration or other remedial work of any kind or nature (the 11R 'ial Work") is required under any Environmental Law, any judicial order or by any governmental entity because of, or in connection with, the current or future presence, suspected presence, threatened or existing release or suspected release of a Hazardous Substance in or into the air, soil, groundwater, surface water or soil vapor at, on, urxier or about the Property or any portion thereof, Trustor shall, within such period of time as may be required under applicable Law, regulation or order, commence to perform, or cause to be commenced, and thereafter diligently prosecuted to completion, all such Remedial Work; provided, however, that Trustor shall not perform, or commence to perform, any Remedial Work without Beneficiary's prior written consent, which consent may be granted or withheld in Beneficiary's reasonable discretion; provided further, however, that Beneficiary's prior consent shall not be necessary in the event that the presence of Hazardous Substances in, on, under or about the Property either poses an immediate threat to the health, safety or welfare of any individual or is of such a nature that immediate Remedial Work is necessary and it is not possible to obtain Beneficiary's consent before performing or commencing such Remedial work, provided that in such event Trustor shall notify Beneficiary as soon as practicable of any Remedial Work so performed or commenced. Beneficiary agrees not to withhold its consent, where such consent is required hereunder, if particular Remedial Work is ordered by a court of competent jurisdiction or is imposed upon Trustor (without Trustor's consent or approval) by a governmental authority with regulatory jurisdiction over the Property. ALL costs and expenses of such Remedial Work shall be paid by Trustor within ten (10) days of Beneficiary's demand therefor, which costs and expenses shall include, but shall not be Limited to, the charges of all contractor(s) and/or consulting engineers, and Beneficiary's attorneys' fees and costs incurred in connection with monitoring or review of such Remedial Work. In the event Trustor shall fail to timely commence, or cause to be commenced, or fail to diligently prosecute to completion, such Remedial Work, Beneficiary may, but shall not be required to, cause such Remedial Work to be performed and all costs and expenses thereof, or incurred in connection therewith, shall become part of the indebtedness secured hereby. (12) Beneficiary is authorized, by itself, its agents, employees or workmen to enter at any reasonable time upon any part of the Property for the purpose of inspecting the same for Hazardous Substances and Trustor's compliance with Paragraphs A(8) through (11), inclusive, above, and such inspections may include soil borings and groundwater testing (provided that any damage caused by soil borings shall be repaired by Beneficiary). Trustor agrees to pay to Beneficiary, within ten (10) days of Beneficiary's demand therefor, all expenses, costs or other amounts incurred by Beneficiary in performing any inspection for the purposes set forth in this Paragraph A(12). (13) Without the prior written consent of Beneficiary, which consent may be granted or withheld in Beneficiary's sole discretion, Trustor shall not create or permit to continue in existence any Lien (whether or not such tien has priority over the Lien created by this Deed of Trust) upon the Property imposed pursuant to any Environmental Law. (14) Beneficiary shall have the right to join and participate in, as a party if it so eLects, any LegaL proceeainvz. %ji dGLIons initiated in connection with any Hazardous Substance Claims. Trustor agrees to pay to Beneficiary, within ten (10) days of Beneficiary's demand therefor, all expenses, costs and other amounts incurred by Beneficiary in connection with exercising its rights under this Paragraph A(14). (15) Trustor agrees to protect, indemnify, defend, save and hold harmless Beneficiary, its directors, officers, agents and employees from and against any foreseeable or unforeseeable claim, action, suit, proceeding, Loss, cost, damage (incL ' uding, without limitation, any consequential damage), Liability, deficiency, fine, penalty, punitive damage or expense (including, without Limitation, attorneys, fees), directly or indirectly, resulting from, arising out of, or based upon (a) the presence, release, use, generation, discharge, storage or disposal of any Hazardous Substance in, on, under or about, or the transportation of any Hazardous Substance to or from, the Property by Trustor, its partners, directors, officers, agents, employees, contractors, tenants, invitees, successors or assigns or any residual contamination affecting any natural resource or the environment or (b) the violation, or alleged violation, NB1-143165.V1 3 01/12/93 of any statute, ordinance, order, rule, regulation, permit, judgment or license relating to the use, generation, release, discharge, storage, disposal or transportation of any Hazardous Substance in, on, a -der or about, to or from the Property by Trustor, its partners, directors, officers, agents, employees, contractors, tenants, invitees, successors or assigns. This indemnity shaLl include, without [imitation, any damage, Liability, fine, penalty, punitive damge, cost or expense arising from or out of any claim, action, suit or proceeding for personal injury (including sickness, disease or death), tangible or intangible property damage, compensation for Lost wages, business income, profits or other economic loss, damage to the natural resources or the environment, nuisance, pollution, contamination, Leak, spill, release or other adverse affect upon the environment. The indemnity obligation on the part of Trustor under this Paragraph A(15) shalt survive the repayment of the indebtedness secured hereby. (16) As used in this Deed of Trust, the following terms shaLL have the following meanings: "Environmental Laws" means any and all present and future federal, state or Local Laws (whether under common Law, statute, rule, regulation or otherwise), permits and any other requirements of governmental authorities relating to the environment or to any Hazardous Substance or Hazardous Substance Activity (including, without Limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 19W (42 U.S.C. §§9601 et seq.), as heretofore or hereafter amended from time to time, and T Health and Safety Code and the California Water Code). the applicable provisions of the California "Hazardous Substance" means (a) any chemical, compound, material, mixture or substance that is now or hereafter defined or listed in, or otherwise classified pursuant to, any Environmental Law as a "hazardous substance," "hazardous material," "hazardous waste," "extremely hazardous waste," "infectious waste," "toxic substance," "toxic pollutant" or any other formulation intended to define, list, or classify substances by reason of deleterious properties such as ignitabiLity, corrosivity, reactivity, carcinogenicity, toxicity, reproductive toxicity, or 11EP toxicity" and (b) petroleum, natural gas, natural gas Liquids, Liquified natural gas, synthetic gas usable for fuel (or mixtures of natural gas and such synthetic gas), ash produced by a resource recovery facility utilizing a municipak solid waste stream, and driLting fluids, produced waters, and other wastes associated with the exploration, development or production of crude oil, natural gas, or geothermal resources. "Hazardous Substance Activity" means any actual, proposed or threatened storage, holding, existence, release, emission, discharge, generation, processing, abatement, removal, disposition, handling or. transportation of any Hazardous Substance from, under, into or on the Property or surrounding property. "Hazardous Substance Claims" shall mean any and all enforcement, cLean-up, removal or other governmental or regulatory actions or orders threatened, instituted or completed pursuant to any Environmental Law, together with all claims made or threatened by any third party against Trustor, Beneficiary or the Property relating to damage, contribution, cost recovery compensation, Loss or injury resulting from any Hazardous Substance. a. It is mutually agreed: (1) That any award of damages in connection with any condemnation for public use of or injury to the Property or any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received by it in the same manner and with the same effect as above provided for disposition of proceeds of casualty insurance. (2) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive its right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. (3) That at any time or from time to time, without Liability therefor and without notice, upon written request of Beneficiary and presentation of this Deed of Trust for endorsement, and without affecting the personal Liability of any person for payment of the indebtedness secured hereby, Trustee shall: reconvey any part of the Property; consent to the making of any map or plat thereof; join in granting any easement thereon; or join in any extension agreement or any agreement subordinating the lien or charge hereof. (4) That upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed of Trust to Trustee for cancellation and retention or other disposition as Trustee in its sole discretion may choose and upon payment of its fees, Trustee shall reconvey, without warranty, the Property then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The Grantee in such reconveyance may be described as "the person or persons Legally entitled thereto.,, (5) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and authority, during the continuance of these Trusts, to collect the rents, issues and profits of the Property, reserving unto Trustor the right, prior to any default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any such default, Beneficiary may at any time without notice, either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured,� enter upon and take possession of the Property or any part thereof, in its own name sue for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same, less allowable expenses of operation, upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. (6) That if by virtue of being the beneficiary under this Deed of Trust, Beneficiary is made a party defendant to any Litigation concerning this Deed of Trust or the Property or any part thereof or interest therein, or the occupancy thereof by Trustor, then Trustor shalt indemnify, defend and hold Beneficiary harmless from all Liability by reason of said Litigation, including reasonable attorneys' fees and expenses incurred by Beneficiary in any such Litigation, whether or not such Litigation is prosecuted to judgment., if Beneficiary commences an action against Trustor to enforce any of the terms hereof or because of the breach by Trustor of any of the terms hereof, or for the recovery of any sum secured hereby, or participates in any bankruptcy or other similar action regarding Trustor, Trustor shalt pay to Beneficiary reasonable attorneys' fees and expenses, and the right to such attorneys' fees and expenses shall be deemed to have accrued on the commenC ement of such action and shaLL be enforceable whether or not such action is prosecuted to judgment. If Trustor breaches any term of this Deed of Trust, Beneficiary make take whatever action it deems appropriate, including without Limitation employing an attorney or attorneys, to protect the security of its rights hereunder and in the event of such action following any breach by Trustor, NBI-143165.Vl 4 01/12/93 Trustor shalt pay Beneficiary reasonable expenses incurred by Beneficiary in so doing, whether or not an action is actually commenced against Trustor by reason of breach. (7) That any of the following events, in addition to those set forth elsewhere herein, shalt be deemed a default entitling Beneficiary to the remedies set forth herein, in the Note, and otherwise at Law or in equity: (a) Trustor shalt file a voluntary petition in bankruptcy or shalt be adjudicated a bankrupt or insolvent and such adjudication shalt remain unvacated, unstayed or unappealed for an aggregate of sixty (60) days (whether or not consecutive), or shalt file any petition or answer seeking or acquiescing in any reorganization, arrangement, composition, readjustment, Liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, �aw or regulation relating to bankruptcy, insolvency or other relief for debtors; or shalt seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Trustor or of all or any part of the Property, or of any or all of the royalties, revenues, rents, issues or profits thereof, or shalt make any general assignment for the benefit of creditors, or shalt admit in writing in inability to pay its it debts generally as they become due; or (b) A court of competent jurisdiction shalt enter an order, judgment or decree approving a petition filed against Trustor seeking any reorganization, dissolution or similar relief under any present or future federal, state or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such order, judgment or decree shalt remain unvacated, unstayed or unappeated for an aggregate of sixty (60) days (whether or not consecutive) from the first day of entry thereof; or any trustee, receiver or Liquidator of Trustor or of aLL or any part of the Property, or of any or all of the royalties, revenues, rents, issues or profits thereof, shalt be appointed without the consent or acquiescence of Trustor and such appointment shalt remain unvacated, unstayed or unappeated for an aggregate of sixty (60) days (whether or not consecutive); or (c) A writ of execution or attachment or any similar process shalt be issued or Levied against all or any part of or interest in the Property, or any judgment involving monetary damages shalt be entered against Trustor which shalt become a Lien on the Property or any portion thereof or interest therein and such Lien is senior to the Lien of this Deed of Trust and such execution, attachment or similar process or judgment is not released, bonded, satisfied, vacated or stayed within sixty (60) days after its entry or Levy; or (d) There has occurred a breach of or default under any term, covenant, agreement, condition, provision, representation or warranty contained in any of the documents or instruments secured hereby. (8) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, or upon a default by 341 Bayside Drive, Inc., a California corporation in payment of any indebtedness secured by that certain Purchase Money Deed of Trust and Assignment of Rents of even date herewith executed by such parties, as trustor, in favor of Beneficiary, as beneficiary, or a default by such parties in the performance of any obligation thereunder, Beneficiary may declare all sums secured hereby, and the same shalt thereupon become, immediately due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary at its option may: (a) Commence an action to foreclose this Deed of Trust or specifically enforce any of the covenants hereof; (b) Deliver to Trustee a written declaration of default and demand for sale and of written notice of default and of election to cause the Property to be sold, which notice Trustee shalt cause to be filed for record. Beneficiary also shalt deposit with Trustee this Deed of Trust and alt documents evidencing expenditures secured hereby. After the Lapse of such time as may then be required by Law following the recordation of said notice of default, and notice of sale having been given as then required by law, Trustee, without demand on Trustor, shalt sell the Property at the time and place fixed by it in said notice of sate, either as a whole or in separate parcels, and in such order as it may determine, at public auction to the highest bidder for cash in Lawful money of the United States, payable at time of sate. Trustee may postpone sate of all or any portion of the Property by public announcement at such time and place of sate, and from time to time thereafter may postpone such sate by public announcement at the time fixed by the preceding postponement. Trustee shalt deliver to such purchaser its deed conveying the Property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shalt be conclusive proof of the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary as hereinafter defined, may purchase at such sate. After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title in connection with sate, Trustee shall apply the proceeds of sate to payment of: the costs and expenses of the sate, including but not Limited to Trustee's fees and expenses, legal fees and disbursements, title charges and transfer taxes; all sums expended under the terms hereof, not then repaid, with accrued interest at the maximum amount then allowed by Law; aLL other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto; and/or (c) Exercise all other rights and remedies provided herein or in the Note or any other agreement securing all or any portion of the obligations secured hereby, or provided by Law. (9) That Beneficiary may from time to time, by instrument in writing, substitute a successor or successors to any Trustee named herein or acting hereunder, which instrument, executed by the Beneficiary and duty acknowledged and recorded in the office of the recorder of the county or counties where Lfit: rioperty is �—;Zitution of such successor Trustee or Trustees, who shalt, without conveyance from the Trustee predecessor, succeed to all its title, estate, rights, powers and duties. Said instrument must contain the name of the original Trustor, Trustee and Beneficiary hereunder, the book and page where this Deed of Trust is recorded and the name and address of the new Trustee. (10) That this Deed of Trust applies to and inures the benefit of, and binds all parties hereto, their heirs, Legatees, devisees, administrators, executors, successors and assigns. In this Deed of Trust, whenever the context so requires, the masculine gender includes the feminine and/or neuter, and the singular number includes the plural. (11) That Trustee accepts this Trust when this Deed of Trust, duty executed and acknowledged, is made 6 public record as provided by Law. Trustee is not obligated to notify any party NBI-143165.Vl 5 01/12/93 hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shalt be a party unless brought by Trustee. The urdersigr*d Trustor requests that a copy of any notice of default and of any notice of sale hereunder be mailed to it at its address hereinbefore set forth. (12) That the rights and remedies of Beneficiary hereunder are cumulative with and in addition to, and are not in limitation of, all rights and remedies of Beneficiary otherwise avaiLabte at Law or in equity. (13) That Trustor waives, to the fullest extent permitted by Law, the right to plead any and all statutes of (imitation as a defense to any demand on the Note, this Deed of Trust or any other security instrument now or hereafter securing the Note. (14) That every provision of this Deed of Trust is intended to be severable. In the event that any term or provision hereof is declared by a court of competent jurisdiction to be iLlegaL or invalid for any reason whatsoever, such illegality or invalidity shalt not affect the balance of the terms and provisions hereof, which terms and provisions shalt remain binding and enforceable, and any provision so adjudged to be void, invalid, illegal or unenforceable for any reason shalt be replaced, if possible, with a valid provision that is enforceable and most nearly carries out the orig'inal intent of the parties hereto. (15) That this Deed of Trust and the Note shalt be governed and construed in accordance with the taws of the State of California. In the event of any dispute hereunder or under the Note it is agreed that the sole and exclusive venue shalt be in a court of competent jurisdiction in Orange County, California, and Trustor agrees to submit to the jurisdiction of such court. (16) That the Lien of this Deed of Trust shalt at all times be subordinate and subject to the Declaration. (17) That, unless Beneficiary so elects as evidenced by the recording of a declaration so stating, no merger of the fee estate in the Property and the Leasehotd estate of Lessee under the Ground Lease shalt occur by virtue of the conveyance of the fee estate in the Property to Trustor or the Lien created hereby, or as a result of any subsequent act or expression of Trustor and/or the Lessee under the Ground Lease. Unless and until Beneficiary so elects, Beneficiary shalt continue to have and enjoy all of the rights and privileges of Beneficiary as to the separate estates. In addition, upon the foreclosure of the Lien created by this Deed of Trust on the Property pursuant to the terms hereof, the Ground Lease shaLL not be destroyed or terminated by the application of the Law of merger or as a matter of Law or as a result of such foreclosure unless Beneficiary or any purchaser at the foreclosure sale shalt so elect. Trustor shalt keep in force the Ground Lease and shalt not modify, amend, terminate, surrender or otherwise alter the Ground Lease in any manner, and any such purported modification, amendment, termination, surrender or other alteration of the Ground Lease shalt not be binding upon Beneficiary or effective in the event of any foreclosure of the lien created by this Deed of Trust or a deed in lieu of foreclosure. (18) That Trustor shalt cooperate fully with Beneficiary in providing not more frequently than once per annum, in a prompt and thorough manner upon Beneficiary's request, such financial statements of Trustor, records of income and expenses concerning the Property, tenant Leases and other information concerning the Property as Beneficiary may reasonably request. MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED MAY 25, 1982 KB1-143165.V1 01/12/93 STATE OF CALIFORNIA COUNTY OF ORANGE On personaLLy appeared personaLLy known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seal. Notary Public in and for said County and State NB1-143165.V1 -01/12/93 EXHIBIT A DESCRIPTION OF LAND 333 Baysid Parcel 1: Lot 8, in the City of Newport Beach, County of Orange, State of California as per map recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County.' Parcel 2: A non-exctusive easement for ingress and egress over Lots A and C as shown on a map filed in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County, described as follows: Beginning at the most Easterly corner of said Lot C; thence along the boundary Line of said Lot C the following three courses North 84* 211 1111 West 122.02 feet, North 44* 331 091, West 39.05 feet and North 5* 28, 3211 East 22.59 feet to a point on the Southerly Line of the Land described as Parcel 70046-1 in Deed to the State of California recorded January 10, 1979 in Book 12996, Page 119 of Official Records of said County, thence along said Southerly Line the following three courses, South a8* 301 591, East 56.66 feet, Easterly along a tangent curve concave Southerly having a radius of 938.00 feet through a central angle of 2* 43, 0311 an arc distance of 44.49 feet and South 59* 151 3311 East 28.93 feet to a point on the Southwesterly tine of gayside Drive 76.00 feet wide, being also a point on the Northeasterly tine of said Lot C; thence along said Northeasterly Line, South 25* 14, 0011 East 48.48 feet to the point of beginning. NBI-143165.Vl A-1 01/12/93 EXHIBIT G FORM OF LEASE N81 -143164.V1 G-1 01/18/93 LEASE AGREEMENT (333 Bayside Drive) THIS LEASE AGREEMENT ("Lease") is made this _ day of _, 1993 between THE IRVINE COWANY, a Michigan corporation ("TIC"), and MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED RAY 25, 1982 ("Buyer"). RECITALS A. TIC and Buyer are the parties to that certain Purchase Agreement and Escrow Instructions dated as of _, 1993 (the "Purchase Agreement") pursuant to the terms of which TIC agreed to seLL, and Buyer agreed to purchase, that certain real property more particuLarty described therein (the "Land"). ALL initia(Ly- capitalized terms not otherwise defined herein shalt have the meanings given such terms in the Purchase Agreement. 8. Pursuant to the Purchase Agreement and the Grant Deed TIC expressly reserved any and atL Littora( rights with respect to the waterway adjacent to the Land and the marina Located thereon owned by TIC (collectively, the "Waterway") and Buyer fully relinquished and released unto TIC any and aLL Littoral rights that it or its successors and assigns may now or hereafter claim with respect to the Waterway, inctuding, without Limitation, any such right, title or interest claimed, asserted or resulting from the fact that the Land abuts the Waterway. C. Notwithstanding Buyer's express and complete waiver of any and aLL rights, titLe or interest that Buyer or its successors or assigns may now or hereafter have in or to the waterway as contained in the Purchase Agreement, Grant Deed and Special Restrictions, Buyer and TIC desire to enter into this Lease, which Lease shalt govern in the unlikely event that a court or other governmental authority at some future date (the "Adverse Determination Date") decides that the Littoral rights with respect to the waterway have been transferred to or are appurtenant to the Land despite the express agreement of Buyer and Seller to the contrary. NIDW, THEREFORE, the parties hereto hereby agree as follows: 1. LEASE OF WATERWAY. Buyer hereby Leases to TIC and TIC Leases from Buyer for the term, at the rental, and upon all of the terms and conditions set forth herein, the Waterway. 2. TERM. This Lease shall be for a term commencing on _ , 1993 and shall be in effect for a period of ninety-nine (99) years. TIC shalt have the option of extending the term of this Lease for additional five (5) year periods upon ten (10) days written notice to Buyer. 3. RENTAL. Commencing on the Adverse Determination Date, TIC shalt pay to Buyer as rental for the Waterway the amount of Ten Dollars (S10) per annum, which amount shalt be payable in advance on the first day of each year of the term of this Lease. 4. USE OF WATERWAY. TIC and its successors and assigns shall be entitled to occupy, use and operate the Waterway in the manner that TIC or such successors or assigns elects in their sole discretion; provided that such use and operation by TIC shalt not have a material adverse effect upon Buyer's use and operation of the Land. TIC and Buyer hereby agree that the present use and operation of the Waterway, and any use and operation of the Waterway in a manner substantially similar to the present use and operation of the Waterway, does not and will not have a material adverse effect upon Buyer's use and operation of the Land. Buyer hereby acknowledges and agrees that it shall not challenge, object to or interfere with TIC's occupancy, use or operation of the Waterway in accordance with this Section 4. 5. REAL ESTATE TAXES. TIC shall pay all real property taxes, if any, imposed upon the Waterway. In the event the Land and the Waterway are not at any time separately assessed, the real property taxes shall be allocated between the Land and the Waterway based upon the method used by the tax assessor in calculating such taxes. Nothing contained herein shall be deemed or construed to require TIC to pay any taxes, or any other amounts, attributable to, or retating to, the Land. 6. ASSIGNMENT. TIC shall be entitled to transfer, sublease, assign or hypothecate this Lease and its interest in t;e Waterway without the consent of Buyer. TIC may, if it so elects, be released from any and aLt Liability under this Lease in connection with any such transfer, sublease, assignment or hypothecation. 7. SIL)CCESSORS AND ASSIGNS. This Lease shalt be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. 8. QUIET ENJOYMENT. Buyer covenants and agrees that TIC, upon paying the rent required hereunder, shalt quietly have and enjoy the Waterway during the term of this Lease without hindrance or molestation by anyone claiming by or through Buyer. 9. CHOICE OF LAW. This Lease shall be governed by, and construed and enforced in accordance with, the Laws of the State of California. NB1-143168.V1 1 01/12/93 IN WITNESS WHEREOF, TIC and Buyer have executed this Lease as of the date first above written IfTIC" THE IRVINE COMPANY, a Michigan corporation By: Its: By: Its: "Buyer" MARVIN 0. BURTON, AS TRUSTEE OF THE MARVIN 0. BURTON FAMILY TRUST DATED MAY 25, 1982 NBl-143168.Vl 01/12/93 PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS (With Purchase money MortqaW) (341 Bayside DLrijj) 0�_, THIS AGREEMENT ("Agreement") is entered as of_,%,,/,�312 0-0, 1993, by and between THE IRVINE COWANY, a Michigan corporation ("Setter"), and 341 . �AYSIDE DRIVE, INC., a California corporation ("Buyer"). RECITALS A. Setter is the fee owner of those certain parcels of land situated in the County of Orange, State of California, as more particularly described on EXHIBIT A attached hereto and by this reference incorporated herein (the "Land"); B. The Land is currently subject to a ground Lease dated April 30, 1968, as amended from time to time prior to the date hereof between Setter, as Lessor, and Balboa Investment Group, a California general partnership, as Lessee (the "Ground Lessee") (the "Ground Leaself); C. Buyer desires to purchase Setter's fee interest in the Land, and Setter has agreed to sell and convey the Land to Buyer, on the terms and conditions set forth below; NOW, THEREFORE, the parties hereby agree as follows: 1. PURCHASE AND SALE. Upon all of the terms and conditions contained herein, Buyer hereby agrees to purchase the Land from Setter and Setter agrees to sell the Land to Buyer. 2. ESCROW. Promptly after this Agreement has been signed and delivered by and between the parties hereto, Setter shall open an -escrow ("Escrow") with Chicago Title Insurance Company, 825 No. Broadway, Santa Ana, California 92701 ("Escrow Holder"), by delivering a fully executed copy of this Agreement to Escrow Holder. The parties agree to be bound by the standard escrow General Provisions attached hereto as EXHIBIT B, and shall execute and deliver to Escrow Holder such other reasonable or customary supplemental escrow instructions or other instruments as ma be r --A k c U ]A r "1 7 sciow o er or t e parties hereto in order to consummate the sate described herein. The attached EXHIBIT B and/or the printed portions of any such T instructions shalt not amend or supersede any provision of this Agreement. /Y E 3. CLOSING OF ESCROW. Subject to the satisfaction of all conditions precedent set forth herein, the closing ("Closing") of the purchase and sate of the Land shalt take place through Escrow on or before February� ':' 1993, as such date may be extended pursuant to the provisions of Section 6(i) below to a date )."Later than February��, 1993, or such other date as the parties may mutually agree in writing (the osing Date"). Buyerlanjd Setter hereby acknowledge and agree that the Closing must occur concurrently i h the closing under that certain Purchase Agreement and Escrow Instructions of even date herewith by and ween Setter, as Setter, and Marvin 0. Burton, as trustee of the Marvin 0. Burton Family Trust dated May 1982, as buyer (the "Related Purchase Agreement") with respect to the real property commonly known as 333 Bayside. 4. PURCHASE PR I CE. The purchase price for the Land (the "Purchase Price") shalt be Six Hundred Seventy - Five Thousand Dollars ($675,000). The Purchase Price shall be payable through Escrow as follows: (a) INITIAL DEPOSIT. Concurrently with Buyer's execution and delivery of this Agreement, Buyer shall deliver t etter the Sum of Five Thousand Dollars ($5,000), which sum shalt be held by Setter and applied towards the Purchase Price upon Closing, subject, however, to being disbursed to Setter as Liquidated damages as provided in Section 9(b) below or returned to Buyer as provided in Sections 9 (a) or 17 below. No interest shall accrue or be paid to Buyer with respect to said deposit. (b) SECOM DEPOSIT. On or before the "Approval Date" (as that term is defined in Section 6(b) below), Buyer shalt deliver to Setter the sum of Fifteen Thousand Two Hundred Fifty Thousand Dollars (S15,250), which surn shall be held by Setter and applied towards the Purchase Price upon Closing, subject, however, to being disbursed to Setter as Liquidated damages as provided in Section 9(b) below or returned to Buyer as provided in Sections 9 (a) or 17 below. No interest shall accrue or be paid to Buyer with respect to said deposit. The initial deposit, and the second deposit when made, shalt hereafter be referred to as the "Deposits". (c) CASH AT CLOSING. The additional sum of Two Hundred Seventy -Nine Thousand Seven Hundred Fifty Dollars (S�_79,750), together with any additional amounts and costs chargeable to Buyer as provided below, shalt be deposited by Buyer into Escrow not less than twenty-four (24) hours prior to the Closing Date and shall be disbursed by Escrow Holder to Setter upon the Closing, Less the costs and prorations chargeable to Setter under Section 5 below. (d) PURCHASE MONEY NOTE. The balance of the Purchase Price shall be paid by a promissory note (the "Note") frc(n Buyer to Setter, or order, in the amount of Three Hundred Seventy -Five Thousand Dollars ($375,000). The Note shalt be in form and substance as attached hereto as Exhibit E and by this reference incorporated herein. The Note shalt be secured by a first deed of trust (the "Purchase Money Deed of Trust") on the fee interest in the Land, which Purchase Money Deed of Trust shall be in form and substance as attached hereto as Exhibit F and by this reference incorporated herein. The Note shalt be executed and delivered to Escrow by Buyer for delivery to Setter at the Closing. 5. COSTS AND PRORATIONS. (a) CLOSING COST . Buyer and Setter shall each pay one-half (1/2) of the fees and charges of Escrow Wri]Har. SPQPr qhal! he ' ar the cost of all documentary transfer taxes, and the premium for the Title PoLicy. Buyer shalt pay the entire cost of, and shall be responsible for obtaining, the "Lender's Policy" (as defined below) and any extended coverage, ALTA owner's or other title policy or endorsements in excess of the standard coverage owner's title policy to be provided by Setter, together with any Land surveys required in connection therewith. Buyer's failure or inability to obtain any such item, policy or endorsement by the Closing Date shall not be a condition precedent to or result in any delay of Closing. Buyer shall atso deposit in Escrow, for delivery to Setter at Closing, a Loan fee in an amount equal to one percent (1%) of the original principal amount of the Note as set forth in Section 4 (e) above. Buyer and Setter shalt each bear their own respective Legal, accounting and other consultant fees, charges and costs, if any, incurred in connection with this transaction. ALL recording costs or fees and aLL other costs or expenses not otherwise provided for in this Agreement shall be apportioned or allocated by Escrow Holder between Buyer and Setter in the manner customary in Orange County. (b) TAXES AND ASSESSMENTS. Escrow Holder shall calculate the proration of aLL current real property taxes and aLL general and special bonds and assessments on the Land between Buyer and Setter as of the Closing Date based upon the Latest available tax information, using customary escrow procedures, without N81-143265.Vl 1 01/18/93 regard to any reassessments or subsequent changes. The foregoing computation of proration of taxes by Escrow Holder is for the convenience of the parties only, and Escrow Holder shall not be concerned with charging the parties for such prorations of any such taxes and assessments through Escrow since the Ground Lessee is required to pay atL such taxes under the terms of the Ground Lease. Any real property taxes Levied under the Supplemental Tax Roll as a result of this saLe,.whether prior to the normal assessment date or otherwise, shalt be paid solely by Buyer. Escrow Holder shall prorate and charge Buyer for all rental., common area maintenance charges, if any, and other sums due and unpaid to Setter under the Ground Lease as of the Closing Date, and Setter shalt provide such information as Escrow Holder may request to enable Escrow Holder to calculate such proration. The parties agree that if any rental sum under the Ground Lease is calculated based on a percentage of sates, revenue or income from the Leased promises and if such rental sum cannot readily be determined for the then - current reporting period as of the Closing Date, then such sum shall be deemed unchanged from the Last prior reporting period under the Ground Lease and Setter shall instruct Escrow Holder as to the amount thereof. 6. 00NDITIONS TO CLOSING. The respective obligations of Buyer and Setter to complete the purchase and sale of the Land are subject to satisfaction of the conditions precedent set forth below for their respective benefit at or prior to Closing. (a) TRANSFER AND POSSESSION. Setter shall deliver through Escrow an executed and recordabLe Grant Deed in the form attached hereto as EXHIBIT C (the "Grant Deed") sufficient to convey insurable title to Buyer, subject only to the matters described in Section 6(c). Buyer shalt deliver through Escrow the executed Note, together with the executed, acknowledged and recordable Purchase Money Deed of Trust sufficient to convey to Setter an insurable first priority Lien on the fee estate in the Land subject onty to the matters described in Section 6(c). When all required funds and instruments have been deposited into Escrow by the appropriate parties, and when aAL other conditions to Closing have been fuLfitlledl Escrow Holder shall cause to be recorded the Declaration of Special Land Use Restrictions and Mortgage Lien (the "Special Restridtions") in the form attached hereto as EXHIBIT 0 and, immediately thereafter, the Grant c Deed, and inliediately thereafter, the Purchase Money Deed of Trust. (b) LITLE,APIPROVAL Buyer shaV obtain from Escrow Holder a preliminary title report covering the nd (the "Title Repori:6). Buyer shall take title to the Land pursuant to this Agreement subject to matters scribed in Section 6(c), and to all other matters of record shown on said TitLe Report or Listed as xceptions to coverage therein except such matters as Buyer shalt expressly disapprove by giving written notice to Setter on or 5)-days-­fe i I o*i ng -"er I-&- r-ec-e4pt-<4L -the- T i -t �e R epor-t , but �atep than thipty (304--days-fol-l-o�+ing-the-date hereo*. (the "Approval Date"), which notice shall specify reasonable grounds for each such matter so disapproved. Setter shall have ten business (10) days from its receipt of such notice of disapproval within which to notify Buyer in writing as to whether it shalt cause the removal of such disapproved exception to coverage under the Title Policy on or before the Closing Date. Seller shalt have no obligation to remove any such exception to coverage under the Title Policy except, if applicable, the Lien of the Existing Deed of Trust (as defined in section 6(d) below) which shall be removed by Setter concurrently with the Closing. The failure by Setter to give Buyer written notice of its intention to remove any exception to coverage under the Title Policy disapproved by Buyer in the manner herein provided shalt be deemed an election by Setter not to remove such exception. In the event that Setter does not so notify Buyer, of its election to cause the removal of such disapproved exception to coverage under the Title Policy, Buyer may terminate this Agreement, pursuant to Section 9(a) below, by written notice to Seller and Escrow Holder within ten (10) days thereafter; otherwise, Buyer shalt be deemed to have waived its disapproval of such exception to coverage under the Title Policy and approved same. Should Buyer fail to disapprove any matter affecting the condition of title or constituting an exception to coverage urxier the Title Policy by the Approval Date as set forth above, such matter and/or exception shall be deemed approved by Buyer. (c) TITLE CONDITION AT CLOSING. Setter shalt cause Escrow Holder to deliver or commit to deliver to "er a standard coverage CLTA Owner's Policy of Title Insurance (the "Title Policy") dated as of the Closing, insuring Buyer in an amount equal to the Purchase Price, and showing title to the Land vested in Buyer subject only to: (i) Real property taxes and all unpaid general and special bonds or assessments; 00 The Special Restrictions to be recorded immediately prior to the Grant Deed; (M) The Ground Lease (it being understood and agreed that it is the intent of Buyer and Setter, as is more fully set forth in the Special Restrictions, that the purchase of the fee estate in the Land by Buyer shalt in no event result in a merger of the fee estate in the Land and the LeasehoLd estates created by the Ground Lease without the consent of Buyer and the beneficiary of each deed of trust encumbering said fee estate and/or said Leasehold estate from time to time); (iv) Any and all oil, oil rights, minerals, mineral rights, natural gas rights, and other hydrocarbons by whatsoever name known, geothermal steam, any other material resources and all products derived from any of the foregoing, that may be within or under the Land, together with the perpetual right of drilling, mining, exploring and operating therefor and storing in and removing the same from the Land or any other Land, including the right to whipstock or directionaLLy drill and mine from Lands other than those conveyed hereby, oil or gas wells, tunnels and shafts into, through or across the subsurface of the Land, and to bottom such whipstocked or directionaLLy drilled wells, tunnels and shafts under and beneath or beyond the exterior Limits thereof, and to redriLL, retunneL, equip, maintain, repair, deepen and operate any such wells or mines; without, however, the right to drill, mine, store, explore and operate through the surface or the upper 500 feet of the subsurface of the Land; (Y) Any and all water, rights or interests therein, no matter how acquired by Setter, and owned — --^-A 6— e-11-- ;� c,nnection with or with respect to the L;%rd, together with the right and power to explore, drill, redritt, remove and store the same from the Land or to divert or otherwise utiLize such water, rights or interests on any other property owned or [eased by Seller, whether such water rights shalt be riparian, overlying, appropriative, Littoral, percolating, prescriptive, adjudicated, statutory or contractual; but without, however, any right to enter upon the surface of the Land in the exercise of such rights; (vi) Nonexclusive easements in gross on, over or across the Land within areas designated or shown on any recorded parcel or tract map of the Lard for the following existing or proposed purposes: 0) the installation, emplacement and maintenance of electric, gas, telephone, cable television, water, sanitary sewer Lines, drainage facilities or any other utilities, together with the right to enter upon the Land (without unreasonable interfering with Buyer's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such Lines or facilities; provided that such utilities shalt be installed underground to the maximum extent practicable and the Land and the improvements N81-143265.Vl 2 01/18/93 r \T/ upon it shalt be restored and repaired to the condition prior to such installation at the cost and expense of the exerciser of such easements; and (H) ingress and egress over any public or private rights of way, bicycle and pedestrian traits or other specific designated use areas, if any; (vii) NonexcLusive easements in gross on, over, under or across the Land within 15 feet from aLL property lines of the Land for the installation, emplacement, repair, replacement, operation and maintenance of electric, gas, telephone, cable television, water, sanitary sewer Lines, drainage facilities or any other utilities (provided, that such utilities shalt be installed underground to the maximum extent practicable so Long as such installation does not unreasonably interfere with the use of the Land and the Land and the improvements upon it shalt be restored and repaired to the condition prior to such installation at the cost and expense of the exerciser of such easements) and monument, directional or other signs; (viii) NonexcLusive easements in gross on, over or across the Land within areas which are presently used by the public or adjoining landowners as common streets, passage ways, driveways, entrance ways or access ways which shalt not unreasonably interfere with Buyer's reasonable use and enjoyment thereof, together with the right to enter up -on the Land (without unreasonably interfering with Buyer's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such streets or ways; provided, no adjoining Landowner shalt have any obligation to service, maintain, repair, reconstruct, relocate or replace such streets or ways or to pay the costs thereof unless specifically agreed to in writing by such Landowner; Ox) Any and all Littoral rights with respect to the Waterway (as hereinafter defined). By its acceptance of the Grant Deed Buyer and its successors and assigns hereby expressly and futLy relinquish and release unto Setter any and all Littoral rights that they may now or hereafter claim with respect to the Waterway, including, without Limitation, any such right, title or interest claimed, asserted on resulting from the fact that the Land abuts the Waterway and Buyer and its successors and assigns fully and unconditionally waive any and at[ rights they may now or hereafter have or assert to enjoy, invoke or use the Waterway or any Littoral rights relating thereto and acknowledge and agree that by their acceptance of the Grant Deed Buyer and its successors and assigns are estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. By its acceptance of the Grant Deed Buyer acknowledges and agrees that Setter and its successors and assigns shalt be entitled to own, occupy, use and operate the Waterway in the manner that Setter, or such successors and assigns, elect in their sole discretion and Buyer and its successors and assigns shalt not at any time in the future assert any right, title or interest with respect to the Waterway or challenge, object to or interfere with the ownership, occupancy, use or operation thereof; M NonexcLusive easements in gross on, over or across the Land for the installation, emplacement, repair, replacement operation and maintenance of the bulkhead adjacent to the Waterway, together with all systems, tie rods, concrete panels, rockfiLL, tie -back anchor blocks, railings and any other components of such bulkhead or relating thereto, together with the right to enter upon the Land in connection therewith. (xi) The printed exceptions contained in the Title Policy; (xii) ALL recorded covenants, conditions and restrictions and other matters shown on the Title Report that are set forth above or that have been approved or deemed approved by Buyer pursuant to the express provisions of Section 6(b); (xiii) Ali other matters affecting title to the Lard approved in writing or deemed approved by Buyer pursuant to the express provisions of Section 6(b), which approval shall not unreasonably be withheld, delayed or conditioned. (d) EXISTING DEED OF TRUST. The Land may currently be encumbered by a blanket deed of trust to Ticor Title Insurance Company of California, as Trustee, for the benefit of The Prudential Insurance Company of America, which deed of trust was recorded September 7, 1983 as Instrument No. 83-391528 in the Official Records of Orange County, California (the "Existing Deed of Trust"). If so, Escrow Holder is hereby instructed to cause the Existing Deed of Trust to be reconveyed as to (and only as to) the Land at the expense of Setter and concurrently with the Closing. (e) LENDER'S POLICY. Buyer shall cause Escrow Holder to deliver or commit to deliver to Setter an ALTA Lender's Policy of Title Insurance (the "Lender's Policy") dated as of the Closing, insuring the first Lien priority of the Purchase Money Deed of Trust in favor of Setter as to the fee interest in the Land. The Lender's Policy shalt have a liability amount equal to the principal amount of the Note and shall show title to the Land vested in Buyer subject only to the matters set forth in Section 6(c) above. M CREDIT REVIEW. Setter shall have until fifteen (15) days prior to the Closing Date (such date being referred to as the "Credit Review Date") to review and approve the creditworthiness of Buyer, which determination shalt be made by Setter in its sole and absolute discretion. Buyer agrees to cooperate fully with Setter in providing, in a prompt and thorough manner, such financial statements of Buyer and other information (collectively the "Financiall information") as Setter or its agents may reasonably request to facilitate such financial review. The foregoing conditions shall be deemed satisfied unless Setter notifies Buyer and Escrow Holder in writing, on or before the Credit Review Date, of Seiler's election to terminate this Agreement for failure of either of said conditions pursuant to the provisions of Section 9(a). (g) FIKMCIAL REVIEW. Setter shalt also make available for Buyer's inspection the books and records of Setter nertainina to the Land not Less than ten (10) days prior to the Approval Date. Buyer shall be deemed to have approved all such matters unless it has delivered to Setter and Escrow Holder written notice of disapproval on or before the Approval Date. Setter hereby represents and warrants to Buyer that Setter has not concealed or knowingly failed to make available to Buyer any of Seller's books and records relating to the Land or the Ground Lease. Should Buyer fail to disapprove any matter by the Approval Date as set forth above, such matter shalt be deemed approved. Should Buyer timely deliver a written notice of disapproval as aforesaid, then unless otherwise agreed by both parties, the Agreement shalt terminate pursuant to Section 9(a) below. (h) PAST DUE RENT. Prior to the Closing Date the Ground Lessee shalt have paid to Setter all past due rent and other charges owing to Setter under the Ground Lease. 0) MARINA PERMITS. Setter shall have received assurances satisfactory to Setter that the City of Newport Beach, and any other applicable governmentaL authority, consents to the continued ownership, use and operation by Setter of the marina adjacent to the Land, and that the City of Newport Beach, or such other N81-143265.Vl 3 01/18/93 I applicable governmental authority, will not deny the issuance of a permit for such ownership, use and operation as a result of the consismiation of the sale of the Land as set forth in this Agreement. SeLter! shalt use its best efforts to obtain such assurances at least t�irty (30) days prior to the Closing Date arK if such assurances are not received on or before 30 days prior to scheduled Closing Date the Closing Date, shalt be extended to the date which is thirty (30) days after Setter's, receipt of such assurances; provided that in no event shalt the Closing Date be extended beyond February,-`,, 1993. The condition set forth in' this Section 60) is solely for the benefit of Setter. 7. NO ASSIGNMENT BY BUYER PERMITTED. Buyer may not assign its interest under this Agreement without the� express prior written consent of Setter, which consent may be given or withheld by Seller in its sole discretion, and any such attempted assignment made in violation of this provision shalt be null and void.!, Notwithstanding the foregoing, Setter agrees not to withhold its consent to an assignment by Buyer of itsl rights hereunder to the existing Ground Lessee or any existing subLessees, a corporation owned or control I Led by the Ground Lessee or any existing sublessee or other entities (such as a general or limited partnershi p) owned by the Ground Lessee or such subLessees or owned by an entity in which the ownership is more than :� fifty percent (50%) in Buyer, provided that any such entity agrees to assume a1,1L obligations of Buyer under this Agreement and that any such assignment, or the purchase of the Land by such assignee, does not and w : �tL not result in a merger of the fee estate in the Land and the teasehoLd estate of Buyer created by the Ground Lease and/or effect a termination of the Ground Lease. Notwithstanding Setter's approval of such assignment by Buyer, Buyer shalt remain obligated under this Agreement unless Setter determines, in its sole but i reasonable discretion, that the financial ability, business experience and reputation of the proposed assignee is equal to or greater than the financial ability of Buyer on the date of this Agreement. For purposes of this Section, the term "control" shalt mean management of the day-to-day operations of such entity and, in the case of a corporation, ownership of at least fifty-one percent (51%) of aLL classes of� outstanding voting stock of such corporation, and, in the case of a partnership, ownership as a general 1 partner of at Least fifty-one percent (51%) of the interest in profits and Losses and cash flow of such partnership. Promptly after any such assignment, Setter shalt be furnished with copies of the final executed assignment documents. 8. TIME OF THE ESSENCE AND ESCROW CANCELLATION. Time is of the essence of every provision of this Agreement in which time is an element. Failure by any party to perform any obligation within the time a on the terms ard conditions required hereunder shalt discharge the other party's duties and obligations perform hereunder upon written notice or demand from the other party. However, if Escrow is not in condition to close by the agreed Closing Date, Escrow Holder shaLL continue to comply with the instructi contained herein until a written demand has been made by a party entitled to do so for the cancellation Escrow. Escrow Holder shalt notify all other parties to this Agreement of any such demand, and shalt immediately cancel Escrow without any further instructions from any party. TERMINATION RIGHTS. The parties shalt have the right to terminate this Agreement as follows: (a) FAILURE OF CONDITIONS. If Setter fails to perform any covenant when due hereunder, or if Se[Leri is not in a position by the Closing Date to convey title to the Land subject only to the matters described in Section 6(c) above, and Buyer is unwitting to accept such title to the Land as Setter may be able to convey without any reduction in the Purchase Price, then Buyer may, in addition to any rights or remedies� available to Buyer at Law, terminate this Agreement and the Related Purchase Agreement and the Escrow by giving written notice thereof to Setter and Escrow Holder, or Buyer may waive disapproval and acquire the Land and the Land covered by the Related Purchase Agreement in accordance with the terms hereof and of the Related Purchase Agreement, but in no event may Buyer unilaterally extend the Closing Date beyond the date! provided in Section 3. In the event of any such termination, or if this Agreement and the Related Purchase Agreement are duty terminated pursuant to Sections 6(f) or 6(g) above, Setter and/or Escrow Holder shalt :i promptly return to Buyer all sums theretofore delivered by Buyer pursuant to Section 4 above and under the' Related Purchase Agreement and held by either of them. Additionally, Escrow Holder shalt return all instruments to the parties who deposited same, and all title and escrow cancellation charges shalt be i divided equally between the parties (except that Setter shalt pay all of such cancellation charges if thel termination is due to Setter's default). (b) SELLER'S RIGHTAIQUIDATED DAMAGES. If Buyer fails to deposit any required sums by the prescribed time or in the prescribed manner hereunder or under the Related Purchase Agreement, or to perform any other covenant when due hereunder or under the Related Purchase Agreement, or if Buyer commits any other breach of this Agreement or of the Related Purchase Agreement, or if Escrow fails to close due to any reason not described in Section 9(a) above or Section 17 below or of the Related Purchase Agreement, then Seller at its option, may terminate this Agreement and the Related Purchase Agreement and Escrow by giving writ;en demand to Buyer and Escrow Holder. Thereupon Escrow shalt be canceled, all instruments shalt be returned to the respective parties who deposited same, and Buyer shalt pay all title and escrow cancellation charges and fees. IN ADDITION, THE PARTIES AGREE THAT SELLER SHALL HAVE SUSTAINED DAMAGES RESULTING FROM BUYER'S FAILURE TO PERFORM, WHICH DA14AGES ARE DIFFICULT AND IMPRACTICABLE TO ASCERTAIN. ACCORDINGLY, SELLER SHALL BE ENTITLED TO RETAIN THE ENTIRE DEPOSITS SPECIFIED IN SECTIONS 4(a) AND 4(b) ABOVE AND LINDER THE RELATED PURCHASE AGREEMENT AS A LIQUIDATED AND XREA LE ESTIMATE OF SUCH DAMAGES FOR BUYER'S BREACH OR FAILURE TO COMPLETE 71 -7 THE PURCHASE OF THE LAND A ROV HEREINABOVE, PURSUANT TO CALIFORNIA CIVIL CODE SECTIONS 1671 AND 167 S P H AND S IN SLACH EVENT, ESCROW HOLDER I S EREBY IRREVOCABLY INSTRUCTED BY BUYER AND SELLER TO DISBURSE IMMEDIATELY�T'0 SELLER, UPON DEM.AND OF SELLER ONE, SLJCH PORTION, IF ANY, OF THE DEPOSITS THAT HAVE BEEN DELIVERED TO AND! ARE BEING HELD BY ESCROW R. 1�/� All L/7�_ O?f� SetLer's aLs Initiats :-_rees to cooperate in good faith with each other, and to execute and deliver such further documents and perform such other acts as may be reasonably necessary or appropriate to consummate and carry into effect the transactions contemplated under this Agreement. 11. BUYERPS ACKNOWI-EDGMENTS. Buyer hereby acknowledges and agrees to each of the following provisions: (a) RECEIPT OF DOCUMENTS. Buyer has received and read, understands and agrees to be bound by the terms and conditions of the Ground Lease and the Special Restrictions. (b) PRIOR INVESTIGATIONS. Buyer acknowledges that they are or are affiliated with the Ground Lessee of the Land pursuant to the Ground Lease and the improvements on the Lard were constructed by the Ground Lessees, or its predecessor -in -interest, and the Ground Lessee is in possession of and operates said improvements. Accordingly, Buyer agrees that it has fully inspected the Land, is familiar with the terms and conditions of the Ground Lease and the condition of the improvements, and that it is purchasing the La N81 -143265.V1 4 01/1 ( A/ E 0 \T1 on an "as is" basis. Buyer acknowledges that neither Setter, nor any officer, employee or agent of Setter, has made any representations or warranties whatsoever with respect to the Land, its condition, its suitability for any use, or any other matter. Buyer agrees that no patent or latent condition affecting the Land or any improvement thereon, whether or not known or discover,ibl,e or hereafter discovered, shaLL give rise to any right of damages, rescission or other remedy against Setter. The provisions of this Section 11 are intended to survive the Closing in accordance with Section 13 below. 12. NOW -FOREIGN STATUS OF SELLER. In accordance with Section 1445 of the Internat Revenue Code, SeLLer hereby represents, warrants and certifies to Buyer, under penalty of perjury, that SeLter is not now, and at the Closing will not be, a "foreign person" (that is, a foreign corporation, foreign partnership, foreign trust or foreign estate, as those terms are defined in the Internal Revenue Code and reguLations promuLgated thereunder); that Setter's tax identification number is 13-3177751; and that Buyer need not withhoLd tax at the Closing as a result of this transfer. 13. SURVIVABILITY OF COVENANTS. ALL covenants of Buyer or Setter which are express1ty intended hereunder to be performed in whole or in part after the Closing, and a1l[ representations, warranties and indemnities by either party to the other, shalt survive the C,Losing and be binding upon and inure to the benefit of the respective parties hereto arid their respective heirs, successors and permi ' tted assigns. Any agreements, understandings, warranties or representations not expressly contained herein shall in no way bind either Setter or Buyer. Setter and Buyer each expressly waives any right of rescission and all claims for damages by reason of any statement, representation, warranty, promise arid/or agreement, if any, not contained in or attached to this Agreement. 14. BROKERS' COMMISSIONS. Each of the parties represents to the other that no brokerage commission, finder's fee or other similar compensation of any kind is due or owing to any person or entity other than CS Commercial in connection with the transactions covered by this Agreement. Setter shall be responsibLe to pay CB Commercial any fees to which it may be entitled in connection with the transactions covered by this Agreement since CS Commercial has represented Setter in connection with such transactions. Each party agrees to and does hereby indemnify arid hold the other harmless from and against any and all costs, liabilities, tosses, damages, claims, causes of action or proceedings which may result from any broker, agent, finder, or similar person, Licensed or otherwise, claiming through, under or by reason of the conduct of the indemnifying party in connection with the transactions covered by this Agreement. 15. WAIVER, CONSENT AND REMEDIES. Each provision of this Agreement to be performed by Buyer and/or Setter shalt be deemed both a covenant and a condition and shall be a material consideration for the other party's performance hereunder, and any breach thereof by either party shall be deemed a material default hereunder by such party. Either party may specifically and expressly waive in writing any portion of this Agreement or any breach thereof, but no such waiver shall constitute a further or continuing waiver of any preceding or succeeding breach of the same or any other provision. A waiving party may at any time thereafter require further compliance by the other party with any breach or provision so waived. The consent by one party to any act by the other for which such consent was required shall not be deemed to imply consent or waiver of the necessity of obtaining such consent for the same or any similar acts in the future. No waiver or consent shalt be implied from silence or any failure of a party to act, except as otherwise specified in this Agreement. ALL rights, remedies, undertakings, obligations, options, covenants, conditions arid agreements contained in this Agreement shall be cumulative and no one of them shall be exclusive of any other. Except as otherwise specified herein, either party may pursue any one or more of its rights, options or remedies hereunder or may seek damages or specific performance in the event of the other party's breach hereunder, or may pursue any other remedy at law or equity, whether or not stated in this Agreement. 16. ATTORNEYS# FEES. In the event of any declaratory or other Legal or equitable action instituted between Setter, Buyer and/or Escrow Holder in connection with this Agreement, then as between Buyer and Setter the prevailing party shalt be entitled to recover froom the Losing party aLL of its costs and expenses, including court costs and reasonable attorneys' fees. 17. CONDEMNATION. If at any time prior to the Closing, Legal proceedings are commenced under the power of eminent domain with respect to aLL or any portion of the Lard, either Setter or Buyer may terminate this Agreement and cancet Escrow by giving written notice to Escrow Holder arid the other party. Thereupon, all instruiments shall be returned to the respective parties who deposited same, Buyer and Setter shall each pay one-half (1/2) of aLL title and Escrow cancellation charges, all other funds then deposited by Buyer in Escrow arid any funds paid outside of Escrow by Buyer shall be returned to Buyer, arid each party shall be excused frorn any further obligations hereunder or liability to the other party. in the event of such termination, Buyer shall have no right to participate in the receipt of any cordemnation proceeds from the taking; provid , however, that the rights of Setter and the Lessee under the Ground Lease in the event of condemnation shall continue in full force arid effect. Should neither party elect to terminate this Agreement as aforesaid, there shall be no price adjustment as a result of the taking, and Setter shall not be entitled to any condemnation award as may be attributable to the Land. 18. DAMAGE OR DESTRUCTION. In the event any of the improvements on the Land are damaged or destroyed prior to the Closing, Buyer agrees that it shall bear the risk of such loss and shall have no right to terminate this transaction; provided, however, that as of the Closing Date, Buyer shalt be entitled to all sums, if any, payable to the Lessor under the Ground Lease as the result of such damage. 19. AUTHORITY TO BIND. Each of the individuals signing this Agreement on behalf of any entity thereby specifically represents and warrants that such signatories, either collectively or individually, have the authority to bind that entity to all provisions of this Agreement. 20. NOTICES. Any notice, request, demand, consent, approval or other communication required or permitted hereunder or by Law shalt be validly given or made only if in writing and delivered in person or by independent courier service to the other party at the address(es) below, or deposited inrthe United States mail, duty certified or registered (return receipt'requested), postage prepaid, and addressed to the party for whom intended, as follows: If to Setter: copy to: If to Buyer: NB1-143265.V1 IRVINE HOTEL COMPANY P.O. Box I Newport Beach, CA 92658-8904 Attention: Stephen Brahs IRVINE HOTEL COMPANY P.O. Box I Newport Beach, CA 92658-8904 Attention: General Counsel c/o MARVIN 0. BURTON, AS TRUSTE 121 East Hopkins Aspen, Colorado 81611 5 01/18/93 C/o PATRICK C. STACKER One World Trade Center, Suite 1800 Long Beach, California 90831 c/o ROGER GEYER 8251 Westminster Avenue Westminster, California 92683 Copy to: Douglas P. Allen, Esq. 600 East Hopkins, Suite 302 Aspen, Colorado 81611 Any party may from time to time, by written notice to the other, designate a different address which shatL be substituted for that specified above. If any notice or other document is sent by mail as aforesaid, the same shall be deemed fully delivered and received upon delivery to the addresses set forth above; provided that if delivery is refused by the party to whom such notice is addressed, delivery shall be deemed to have occurred upon such refusal. 21. GENDER AND NUMBER. in this Agreement (unless the context requires otherwise), the masculine, feminine and neuter genders a�� the singular and the plural shall be deemed to include one another, as appropriate. 22. ENTIRE AGREEMENT. This Agreement and its exhibits constitute the entire agreement between the parties hereto pertaining to the subject matter hereof, and the final, complete and exclusive expression of the terms and conditions thereof. Prior agreements, representations, negotiations and understandings of the parties hereto, orat or written, express or implied, are hereby superseded and merged herein. 23. CAPTIONS. The captions used herein are for convenience only and are not a part of this Agreement and do not in any way Limit or amplify the terms and provisions hereof. 24. GOVERNING LAW. This Agreement and the exhibits attached hereto have been negotiated and executed in the State of California and shaLL be governed by and construed under the laws of the State of California. 25. INVALIDITY OF PROVISIONS. If any provision of this Agreement as applied to either party or to any circumstance shall be adj ged by a court of competent jurisdiction to be void or unenforceable for any reason, the same shalt in no way affect (to the maximum extent permissible by Law) any other provision of this Agreement, the application of any such provision under circumstances different from those adjudicated by the court, or the validity or enforceability of the Agreement as a whole, and any provision so adjudged to be void, invalid, illegal or unenforceable for any reason shalt be replaced, if possible, with a valid provision that is enforceable and most nearly carries out the original intent of the parties hereto. 26. AMENDMENTS. No addition to or modification of any provision contained in this Agreement shalt be effective unless fully set forth in writing and signed by both Buyer and Setter. 27. COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shaLL be deemed an original, but aLL of which together shaLL constitute but one and the same instrument. 28. NO RECORDATION. Neither Buyer nor Setter shall, without the consent of the other, record this Agreement, or a short form or memoranckin thereof, or take any other action which would materially and adversely affect the marketability of Setter's title to the Land. 29. LEASE ASSIGNMENT. Concurrently with the Closing, Setter shalt be deemed to have assigned its interest, as Lessor, in the Ground Lease to Buyer, and Buyer hereby agrees to assume aLL of the obligations and liabilities of the Lessor thereunder and to indemnify, defend and hold Setter harmless from and against aLL such obligations and Liabilities from and after the Closing. �0 30. ADJACENT MARINA. Buyer hereby acknowledges and agrees that, as a material inducement to Setter to enter into the transaction contemplated by this Agreement, the property being sold to Buyer pursuant to this Agreement does not, and shatt not at any time in the future, include any Littoral rights with respect to the waterway adjacent to the Land and the marina currently Located thereon owned by Setter or any future improvements Located thereon or any enhancements, repairs or replacements thereof (collectively, the "Waterway"), all of which are expressly reserved by Seller. Buyer further acknowledges that the rights retained by Setter pursuant to this Section 13 enhance the value of Land owned or Leased by Setter and/or the other interests which Setter may have in such Land and that Setter would not have entered into this Agreement if the property being sold to Buyer included any Littoral rights with respect to the Waterway and that the Purchase Price for the Land has been established by Setter based upon Setter's continued right to own, occupy, use, operate, Lease or otherwise alienate the Waterway. Buyer hereby expressly and fully relinquishes and releases unto Setter any and all Littoral rights or any other rights that it may now or hereafter have or claim with respect to the Waterway, including without Limitation any such right, title or interest claimed, asserted or resulting from the fact that the Land abuts the Waterway. Buyer further fully and unconditionally waives any and all rights it may now or hereafter have or assert to enjoy, invoke or use the Waterway or any Littoral rights relating thereto and acknowledges and agrees that by entering into this Agreement Buyer is estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. Buyer acknowledges and agrees that Setter, or its successors and assigns, shall be entitled to own, occupy, use, operate, Lease or otherwise alienate the Waterway in the manner that Setter, or such successors and assigns, elect in their sole discretion. Buyer hereby covenants and agrees that it shall not at any time in the future assert any right, title or interest with respect to the Waterway or challenge, object to, or interfere with, Setter's or any successors' or assigns' ownership, occupancy, use, operation, lease or alienation thereof. In the event Buyer, or any of its successors or assigns, at any time in the future asserts any right, Llt�e or inteiazL .;,.. — .:— -.� ....... — - L, to, or interferes with Setter's ownership, occupancy, use, operation, lease or alienation thereof, Setter shall be entitled to exercise any and aLL of its rights and remedies under the Special Restrictions, including, without Limitation, the right to receive payment of an additional purchase price from Buyer, or such successors or assigns, as provided in Article V of the Special Restrictions. Notwithstanding anything to the contrary set forth herein, Buyer and Setter acknowledge that, in the highly unlikely event that a court or other governmentaL authority at some future date decides that the Littoral rights have been transferred to or are appurtenant to the property conveyed to Buyer despite the express agreement of Buyer and Setter to the contrary, Buyer and Setter have entered into a Lease of the Waterway in the form attached hereto as EXHIBIT G, which Lease shall remain in full force and effect in the event of any such determination adverse to Setter's ownership, occupancy, use, operation, Lease or alienation of the Waterway. Notwithstanding the foregoing, Buyer acknowledges that such Lease is being entered into solely as a means of fulfilling the express intent of the parties that Setter shaLL retain aLL Littoral rights \ T relating to the Land and the lease, and its execution thereof by Setter, shatt not be deemed or construed to confer upon Buyer, or.its successors and assigns, any tittoraL rights relating to the Land. Seller and its successors and assigrAhalL retain the obligation to maintain the bulkhead adjacent to the waterway, /Y CE?�,r together with all systems, tie rods, concrete panels, rockfiLL, tie -back anchor blocks, railings and any other components of such bulkhead or relating thereto; provided that in no event shalt Setter or its successors or assigns be responsible for any maintenance or changes to the bulkhead or any of the foregoing components which results from, or is necessary in connection with, a use of the Land which differs from the use of the Land existing as of the date of this Agreement. Setter shaLL be responsible for paying any real property taxes and assessments, if any, attributable to or relating to the Waterway; provided that nothing contained herein shalt be deemed or construed to require Setter to y any taxes, or,any other amounts, attr(�7�6 '�table to, oLrsrjeLating to, the LaD4, The p ovisions of his Sec ve— Losing in a an-ce with the- e6tion 13 is 6 cc d tion 30 OaLL iurvi' thr p0jj�i s i �ons o­fS hereof. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. SELLER: THE IRVINE COW a Michigan = ation By Ri ard _� Sim Ex ut' -Vice Presi By: &6naLd McNutt' Vice President Pio 0 Cz N81-143265.Vl E 7 BUYER: 341 BAYSID I , INC., a Cali or poration By Its: By: Its: J"/, 01/18/93 EXHIBIT A LEGAL DESCRIPTION OF THE LAND 341 Bayside Parcel 1: Los A, in the City of Newport Beach, County of Orange, State of California, as per map recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County. Parc 2: A n exclusive easement for the encroachment of the second story of the building located on the above described rcel 1 onto the adjacent property and any replacements or repairs thereof; provided that any such repL c nts or repairs shaLL only be constructed within the air space that the second story of the building curr tLy occupies as of the date hereof and provided further that in no event shall the easement granted ereby deemed or construed to extend beyond the area currently occupied by the second story of such Wing. 2 ' ex c Lus r c el c nts curr tL a y r b i A n *kd ri bed r epL d ng t ed T N81-143265.Vl A-1 01/18/93 EXHIBIT 6 GENERAL PROVISIONS PRORATE all items required in this escrow as of the date of close of escrow or as otherwise set forth in Agreement of the Parties., Assume a 30 -day month in any prorate herein provided, and unless the partfes otherwise instruct you, you are to use the information contained in the Last available tax statement, renta� statement as provided by Seller beneficiary's statement, and fire insurance policies delivered into escrow for the prorates provided above. In the event any beneficiary's statement reveals a deposit, account or funds for a future payment of taxes, insurance or other future payment obligations of the Loan you are to credit Seller and debit Buyer unless otherwise instructed. YOUR AGENCY AS ESCROW HOLDER shall terminate six months following the date set forth in Agreement of the parties for the close of escrow (Closing Date), and shall be subject to earlier revocation by receipt by you prior to close of escrow of written notice signed; (1) In case this escrow has not been placed in a condition to close by the Closing Date, by any party hereto, or (2) if received prior to said date, but after (there shalt have been) a failure of a condition or performance to be complied with or performed on or before a date, or within a period, stated herein, then by any party other than a party responsible for such compliance or performance, or (3) As otherwise set forth in Agreement of the parties. Any such revocation shall be effective upon receipt of such notice, but you shalt not return the documents or deposits of the revoking party prior to ten (10) days after you have mailed a copy of such notice to each of the other parties. YOUR KNOWLEDGE OF MATTERS affecting the property, provided such facts do not prevent compliance with these instructions, does not create any Liability or duty in addition to your responsibility under these instructions. No notice, demand or change of instruction, except a demand for revocation made in accordance with the foregoing paragraph, shatt be of any effect in this escrow unless given in writing by all parties affected thereby. PROCEEDS of this escrow shall be disbursed by your check payable to the parties as their names are signed herein unless otherwise instructed and your checks and documents shalt, be mailed to the addresses set forth in the Agreement of the parties. FUNDS DEPOSITED into this escrow are to be maintained in a federally insured trust account, and any escrow related services provided to escrow holder by any depositury bank or savings and loan association are hereby consented to and approved. if for any reason funds are retained or remain in escrow after closing date, you are to deduct therefrom a reasonable monthly charge as custodian thereof of not Less than $10 per month. ALL PARTIES TO THIS ESCROW ACKNOWLEDGE THAT CHICAGO TITLE COMPANY DOES NOT PROVIDE LEGAL ADVICE NOR HAS IT MADE ANY INVESTIGATION, REPRESENTATIONS OR ASSURANCES WHATSOEVER REGARDING THE COMPLIANCE OF THIS TRANSACTION WITH ANY TAX, SECURITIES OR OTHER LAWS OF THE UNITED STATES OR THE STATE IN WHICH THE TRANSACTION IS CONSUMMATED. ESCROW HOLDER RECOMMENDS THAT THE PARTIES OBTAIN INDEPENDENT LEGAL COUNSEL AS TO TAX, SECURITIES OR OTHER LEGAL ASPECTS OF THE TRANSACTION. YOU ARE INSTRUCTED TO FURNISH to any broker or tender identified with this transaction or anyone acting on behalf of such tender, any information concerning this escrow, copies of all instruction, amendments and statements upon request. INDICATE ON DEED to record, ail future tax statements are to be mailed to Buyer at its specified address unless otherwise indicated in Agreement of the parties. SELLERS AGREES to hand you the instruments, documents and money required to comply with these instructions, which you may use, and pay such costs, taxes, assessments and demands to insure title as set forth herein when you can comply with these instructions and deliver the net proceeds to the order of Seller. PAY A COMMISSION in accordance with the instructions contained in separate commission order. PAY DOCUMENTARY TRANSFER TAX If the documentary tax declaration has not been furnished in connection with the Deed from Seller herein to Buyer herein, you are instructed to complete and sign the declaration on such Deed by computation based on full value of real property conveyed Less Liens and encumbrances remaining thereon at time of conveyance, if any. EACH PARTY AGREES to pay its own proportionate share of costs and charges incurred herein, including, but not necessarily Limited to escrow fee, document preparation and special handling fees; title insurance policy and endorsement fees; costs and charges of Lender(s) or other vendor(s) identified herein; documentary transfer tax, recording, monument, change of ownership and/or other fees chargeable by the City, County and/or State in which subject property is Located. END OF GENERAL PROVISIONS N81-141265.Vl B-1 01/18/93 EXHIBIT C FORM OF GRANT DEED N61 -143265.V1 C-1 01/18/93 RECORDING REQUESTED BY AND WHEN RECORDED MAIL THIS DEED AND UNLESS OTHERWISE SHOWN BELOW, MAIL TAX STATEMENTS 10 N—KF STREET ADO Isr. 32 C Ty. STATtj Z? Title Order No ...... ... .... ... Escrow No...... .... ........ ..... This spoco for Recefd*r'i vt4 I Corporation Grant Deed L THE UNDERSIGNED CRANTOR(s) DECLARE(s) DOCUMENTARY TRANSFER TAX is $ 0 -unincorporated area 0 City of Parcel No X computed on full value of property conveycd, or C] computed on full value less value of liens or encumbrances remaining at time of sale, and FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, THE IRVINE COMPANY a Corporation organized under the laws of the state of Michigan hereby GRANT(S) to 341 BAYSIDE DRIVE, INC., A CALIFORNIA CORPORATION i the following d�escribed real property in the County of Orange State of California: See Exhibits A and B attached hereto and incorporated herein by reference. Dated STATE OF CALIFORNIA COUNTY I OF Orange S.S. On I - before me, a Notary. Public In and for said County and State, personally appeared Uonald McNutt and Ste h n hs personally known to me (or proved to me on the basis of satisfactory evidonce) to be the person(s) whose name(s) Is/are subscribed to the within Instrument and acknowledged to me that he/shelthey executed the same In hisi(heritheir authorized capecity(les), and that by histher/I heir signature(s) on the Instrument the person(s), or the entity upon behalf of which.the person(s) acted, executed the Instrument. WITNESS my hand and official seal THE IRVINE COMPANY, a Michigan Corporation BY: u0nald MCNUCL, vice President BY: Stephen A. Brahs, AssIt Secretary Signature (Space aL.)ve for official notarial S-!21) MAIL TAX STATEMENTS 70 PARTY SHOWN ON FOLLOWING LINE; IF NO PARTY SO SHOWN, MAIL AS DIRECTED ABOVE Name Street Address 'ity & State C.TC 1-102 f9-91) EXHIBIT A TO GRANT DEED (341 Bayside Drive) The real property conveyed hereby is described in Exhibit 6 to this Grant Deed. RESERVING UNTO GRANTOR, its successors and assigns, together with the right to grant and transfer at[ of a portion of the same, as follows: A. Any and all oil, oil rights, minerals, mineral rights, natural gas rights, and other hydrocarbons by whatsoever name known, geothermal steam, any other material resources and aLl pro -ducts derived from any of the foregoing, that may be within or under the Land, together with the perpetual right of drilting, mining, exploring and operating therefor and storing in and removing the same from the Land or any other land, including the right to whipstock or directiona[Ly dritt and mine from Lands other than those conveyed hereby, oil or gas welts, tunnels and shafts into, through or across the subsurface of the Land, and to bottom such whipstocked or directionaLLy drilled wells, tunnels and shafts under and beneath or beyond the exterior Limits thereof, and to redriLL, retunneL, equip, maintain, repair, deepen and operate any such wells or mines; without, however, the right to drill, mine, store, explore and operate through the surface or the upper 500 feet of the subsurface of the Land. B. Any and aLL water, rights or interests therein, no matter how acquired by Grantor, and owned or used by Grantor in connection with or with respect to the Land, together with the right and power to explore, drill, redrill, remove and store the same from the Land or to divert or otherwise utiLize such water, rights or interests on any other property owned or Leased by Grantor, whether such water rights shalt be riparian, overlying, appropriative, Littoral, percolating, prescriptive, adjudicated, statutory or contractual; but without, however, any right to enter upon the surface of the Land in the exercise of such rights. C. NonexcLusive easements in gross on, over or across the Land within areas designated or shown on any recorded parcel or tract map of the Land for the following existing or proposed purposes: 0) the installation, emplacement and maintenance of electric, gas, telephone, cable television, water, sanitary sewer Lines, drainage facilities or any other utitities, together with the right to enter upon the Land (without unreasonable interfering with Grantee's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such Lines or facilities; provided that such utilities shall be installed underground to the maximum extent practicable and the Land and the improvements upon it shalt be restored and repaired to the condition prior to such installation at the cost and expense of the exerciser of such easements; and (H) ingress and egress over any public or private rights of way, bicycle and pedestrian traits or other specific designated use areas, if any. D. NonexcLusive easements in gross on, over, under or across the Land within 15 fePt from aLL property Lines of the Land for the installation, emplacement, repair, replacement, operation and maintenance of electric, gas, telephone, cable television, water, sanitary sewer Lines, drainage faciLities or any other utilities (provided, that such utilities shall be installed underground to the maximum extent practicable so Long as such installation does not unreasonably interfere with the use of the Land and the Land and the improvements upon it shalt be restored and repaired to the condition prior to such installation at the cost and expense of the exerciser of such easements) and monument, directional or other signs. E. NonexcLusive easements in gross on, over or across the Land within areas which are presently used by the public or adjoining landowners as common streets, passage ways, driveways, entrance ways or access ways which shall not unreasonably interfere with Buyer's reasonable use and enjoyment thereof, together with the right to enter upon the Land (without unreasonably interfering with Grantee's reasonable use and enjoyment thereof) in order to service, maintain, repair, reconstruct, relocate or replace any of such streets or ways; provided, no adjoining Landowner shalt have any obligation to service, maintain, repair, reconstruct, relocate or replace such streets or ways or to pay the costs thereof unless specifically agreed to in writing by such landowner; and provided that Grantee shalt be entitled to relocate such easements from time to time in its reasonable discretion upon written notice to Grantor provided that any such relocation shalt not substantially diminish or reduce the access afforded to Grantor or its ability to service, maintain, repair, reconstruct, relocate or replace any such streets or ways. F. Any and all Littoral rights with respect to the waterway adjacent to the Land and the marina currently located thereon owned by Grantor or any future improvements Located thereon or any enhancements, repairs or replacements thereof (collectively, the "Waterway"). By its acceptance of this Grant Deed Grantee and its successors and assigns hereby expressly and fully relinquish and release unto Grantor any and all Littoral rights that they may now or hereafter claim with respect to the Waterway, including, without Limitation, any such right, title or interest claimed, asserted on resulting from the fact that the Land abuts the Waterway and Grantee and its successors and assigns fully and unconditionaLty waive any and all rights they may now or hereafter have or assert to enjoy, invoke or use the Waterway or any Littoral rights relating thereto and acknowledge and agree that by their acceptance of this Grant Deed Grantee and its successors and assigns are estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. By its acceptance of this Grant Deed Grantee acknowledges and agrees that Grantor and its successors and assigns shalt be entitled to own, occupy, use, operate, Lease or otherwise alienate the Waterway in the manner that Grantor, or such successors and assigns, elect in their sole discretion and Grantee and its successors and assigns shall not at any time in the future assert any right, title or interest with respect to the Waterway or challenge, object to or interfere with the ownership, occupancy, use, operation, Lease or alienation thereof. G. Nonexclusive easements in gross on, over or across the Land for the installation, emplacement, repair, replacement, operation and maintenance of the bulkhead adjacent to the Waterway, together with at[ systems, tie rods, concrete panels, rockfiLL, tie -back anchor blocks, railings and any z.=,—onents of such bulkhead or relating thereto, together with the right to enter upon the Land i - connection therewith. SUBJECT TO: 1. General and special taxes and assessments for the current.fiscaL year and any and aLL unpaid bonds and/or assessments. 2. That certain Declaration of Special Land Use Restrictions, Mortgage Lien and Option to Repurchase executed by Grantor and Grantee, recorded concurrently herewith and incorporated herein by this reference (the "Declaration"). NB1-143524.V1 1 01/18/93 3. That certain ground Lease dated April, 30, 1968 as subsequentty amended prior to the date hereof, between Grantor, as Lessor, and BaLboa Investment Group, a CaLifornia generat partnership, as. Lessee, (the "Ground Lease"). 4. ALL covenants, conditions, restrictions, reservations, rights-of-way, easements and other matters of record or apparent (provided that in any such case it is not the intent of this instrument to require a separate consent by Grantor concerning modifications or amenciments thereto, except as may be expressLy required by. the instruments evidencing any such matters). NBI-143524.Vl 01/1V93 EXHIBIT 6 TO GRANT DEED The real property conveyed hereby is described as follows: 341 Bayside Parcel 1 Lot A, in the City of Newport Beach, County of Orange, State of California, as per map recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County. Par L 2: A on -exclusive easement for the encroachment of the second story of the buiLding Located on the above de ribed parcel 1 onto the adjacent property and any replacements or repairs thereof; provided that any suc placements or repairs shall only be constructed within the air space that the second story of the buiLdi c rentLy occupies as of the date hereof and provided further that in no event shaLL the easement r L 2 ve de A r suc on - e i bed y p I ac, Ld i c ren I g t P a a rant here be deemed or construed to extend beyond the area currently occupied by the second story of uc Id. g u h iLding. NB1-143524.VI B-1 01/18/93 EXHIBIT D FORM OF SPECIAL RESTRICTIONS N81 -143265.V1 D-1 01/18/93 RECORDING REQUESTED BY AND WHEN RECORDED 14AIL TO: The Irvine Company Post Office Box I Newport Beach, California 92658-8904 Attention: General CounseL/Irvine Hotel Company DECUkRATION OF SPECIAL LAND USE RESTRICTIONS AND MORTGAGE LIEN (341 Rayside Drive) THIS INSTRUMENT is entered into as of the day of 1 1993, by and between THE IRVINE COMPANY, a Michigan corporation ("DecLarant"), and 341 BAYSIDE DRIVE, INC., a California corporation ("Buyer") with reference to the following facts: A. Concurrently herewith, Buyer is acquiring from DecLarant that certain parcel of Land situated in the County of Orange, State of California, as more particularly described on EXHIBIT A attached hereto and by this reference incorporated herein (the "Land"). B. In connection with such acquisition, Buyer has represented to DecLarant that it is acquiring the Land to own and operate the same in accordance with certain covenants, conditions, rights, restrictions and limitations more particularly set forth below (collectively referred to as the "Restrictions"), and Declarant is setting the Land to Buyer on the basis of Buyer's continuing compliance with such Restrictions. Buyer acknowledges that: (i) The original purchase price paid by Buyer for the Land reflects the Limitations on use set forth in the Restrictions; 00 DecLarant has informed Buyer that it is DecLarant's belief that without certain transfer, use and development restrictions set forth below and hereby agreed to be reasonable, the Land or an interest in Buyer could be sold by Buyer for an immediate gain prior to fulfilling certain express requirements of Buyer and contrary to the express intent of the parties hereto; and (iii) DecLarant has informed Buyer that the price charged to Buyer for the Land would have been substantially higher had the Land been sold unencumbered by the Restrictions. C. Buyer acknowledges that DecLarant has informed Buyer that but for such representations by Buyer, and the covenants of Buyer contained herein, DecLarant would not have sold the Land to Buyer; instead, Dectarant would have sold the Land to another party willing to conform to these Requirements or would have retained its fee interest in the Land. D. The Land is currently subject to that certain ground lease dated April 30, 1968, as amended from time to time prior to the date hereof, between DecLarant, as Lessor, and Balboa Investment Group, a California general partnership, as Lessee (the "Ground Lease"). Wherever herein reference is made to Buyer, such reference shalt refer to and include its successors and assigns, insofar as the Restrictions precLude, Limit or establish conditions precedent to any proposed use of the Land, including, without Limitation, the provisions of Section 2.01 below. in the event of any inconsistency between the Ground Lease and this Agreement,,with respect to such matters, the provisions of this Agreement shalt govern and take precedence over such provisions in the Ground Lease. NOW, THEREFORE, in consideration of the foregoing (including the sate of the Land by Dectarant to Buyer), and other good and vatuable consideration, the receipt and adequacy of which are hereby acknowledged by Buyer, the parties hereto agree as follows: ARTICLE I GENERAL PROVISIONS 1.01. STATEMENT OF GENERAL PURPOSES. DecLarant is the owner of a Large and unique Landholding, portions of which have been developed as master-pLanned communities. Among the distinguishing characteristics of these master -planned communities are the clear delineation of use areas, together with the strict exercise of architectural and occupancy controls over individual construction projects, so as to ensure the harmonious growth and development of the Local community and the maximization of the value of Dectarant's remaining Landholdings. In addition to those general concerns, it is vitaLLy'important to DecLarant that the intensity of development be Limited on those parcels of property (including the Land) that DecLarant from time to time elects to sell to third parties. Should the development Limitations imposed by 0ecLarant be exceeded, among other possible consequences adverse to DecLarant's interests, the roadways and other infrastructure improvements servicing the Land and its environs could be over utilized, resulting in undesirable traffic congestion and housing imbalances within the surrounding community. Such conditions could in turn adverseLy affect the ability of Dectarant to develop its remaining Landownings, including without Limitation the "Benefited Property" as defined below. It is to promote these purposes that this Declaration is made, and it is the intention of the parties that it will be in furtherance of said purposes that the Restrictions, and all other declarations supplemental hereto, wilt be understood and construed. 'I . u;e.- L. CKIRAN LPCr1N111LMa; (a) "Affiliate of Buyer" shalt mean an entity owned or controlled by or under common control with Buyer. For purposes hereof, "control" shalt mean management of the day-to-day operations of such entity and, in the case of a corporation, ownership of at least fifty-one percent (51%) of all classes of outstanding voting stock of such corporation, and, in the case of a partnership, ownership as a generaL partner of at Least fifty-one percent (51%) of the interest in profits and Losses and/or cash flow of such partnership. (b) "Dectarant" shalt mean The Irvine Company and all successors, assigns or designees who shalt assume the obligation and to whom The Irvine Company shalt specifically assign in writing the right to enforce these Restrictions. NB1-143264.V1 01/13/93 (c) "Buyer" shalt mean the Buyer identified above and each and every successor, assignee, owner, Lessee, licensee or other occupant during its ownership or occupancy of the Land or any portion thereof or interest therein, as the context may require. (d) "Gross Floor Area" Defined. As used in this Instrument and any exhibits hereto, the term "gross floor area" shalt mean the square footage area within the exterior facade or line of the exterior watts of the building, including basement and subterranean areas, balcony and mezzanine space, except that the following areas shalt not be included: (i) Areas which are used exctusiveLy to house mechanical, electrical, telephone, heating, ventilation, air conditioning'and other such building operating equipment, including trash compactors and baiting equipment; 00 Service corridors, exit corridors or stairs not contained within any area exclusively appropriated for the use of any single occupant; (iii) Matt pedestrian circulation not contained within any area exclusively appropriated for the use of any single occupant, including stairs and vertical transportation; and, (iv) Truck Loading areas, truck tunnels, truck parking, turnaround and dock areas, and ramps and approaches to such truck Loading areas. (e) "Restrictions" shalt mean each covenant, condition, restriction, reservation, timitation or other provision contained in this instrument. ARTICLE 11 GENERAL AND SPECIFIC USE RESTRICTIONS 2.01. GENERAL USE RESTRICTIONS. The violation of any of the following general use limitations within twenty-five (25) years after the recordation of this Instrument shalt at DecLarant's option constitute a default hereunder and a breach of the Restrictions, which shalt entitle Dectarant to exercise any of the rights and remedies set forth below: (a) SUBDIVISION. Buyer shalt not effect any change or amendment to any parcel or final subdivision map covering the Land or record any further parcel or final subdivision map of the Land or any portion thereof or facilities thereon, pursuant to California Government Code Sections 66410 et seq., or any similar or successor statute hereafter enacted, and any Local ordinances adopted pursuant thereto, in any case relating to a use other than a Permitted Use (as hereinafter defined), nor shalt Buyer file or record a condominium plan covering the Land for a use other than a Permitted Use, or file any applications with any goverryr-ritaL agency with respect thereto relating to a use other than a Permitted Use, unless expressly approved by DecLarant, which approval may be granted or withheld by DecLarant in its sole discretion. (b) ZONING. Buyer shalt not use or develop, or attempt to use or develop, the Land, or any portion thereof, for any purpose other than the Permitted Use (without the benefit of a zoning variance, exception or other special administrative procedure) under the zoning ordinance or ordinances of the governmental entity having zoning jurisdiction over the Land in effect as of the date of recordation of this Instrument. Additionally, Buyer shalt not change or attempt any change in zoning, or obtain or apply for a zoning variance or exception or other similar approval with respect to the use or development of the Land or any portion thereof for a use other than a Permitted Use, unless expressly approved by DecLarant, which approval may be withheld by DecLarant in its sole discretion. (c) UNAPPROVED D LOPMENT OR USE. Unless expressly approved by Dectarant, which approval may be withheld by Dectarant in its sole discretion, Buyer shalt not permit: (i) The commencement of construction, maintenance, operation or use of any structure or improvements on the Land not in full compliance with all requirements of Law or as contained herein or in any recorded covenants, conditions, rights, restrictions and limitations existing from time to time covering the Land, including without Limitation all architectural approval requirements and use restrictions contained in such documents; or 00 More specifically, any use of the Land that is not a permitted use as set forth in EXHIBIT 8 to this Dectariktion (a "Permitted Use"). (d) FLOOR AREA AND HEIGHT LIMITATION. As previously described, Buyer understands that the development potential of other Lands owned by Dectarant, including without Limitation the Benefited Property, wit1l depend in material part upon the intensity of development and use on the Land. Accordingly, Buyer covenants that without the prior written consent of Dectarant (which consent may be withheld in DecLarant's sole and absolute discretion or may be given predicated on the payment to Dectarant of such additional sum as is set forth in Section 3.04 below or as otherwise may be required by DecLarant), in no event shalt the cotLective Gross Floor Area of,aLL buildings now or hereafter constructed on the Land exceed the maximum Gross Floor Area set forth in EXHIBIT 8 hereto, nor shalt the above -grade height of any such building exceed the height Limitation set forth in EXHIBIT B. ARTICLE III ENFORCEMENT OF RESTRICTIONS 3.01. GENERAL PURPOSE AND CONSTRUCTIVE NOTICE. The Restrictions shalt run and pass with each and every portion of the Land and be binding upon Buyer, its successors and assigns, and shalt benefit any and all other Landowned byDectarant and Located inorangeCounty, California, including without Limitation the real property more particularly described in EXHIBIT C attached hereto and incorporated herein by reference (the "Benefited t�standing any tra nsfers of property of DecLarant benefited by the Restrictions, or any portion thereof by DecLarant. Except as specifically set forth herein, the Restrictions shalt remain in full force and effect for the period of time specified in Section 2.01 above, notwithstanding DecLarant's exercise of any right or remedy herein due to a previous or repeated violation of any one or more of the previous Restrictions. Every person or entity who now or hereafter owns or acquires any right, title or interest in or to any portion of the Land is and shalt be conctusiveLy deemed to have consented and agreed to every Restriction, provision, covenant, condition, right and [imitation contained herein, whether or not any reference to this Instrument is contained in the instrument by which such person acquired an interest in the Land. 3.02. INSPECTION. Upon twenty-four (24) hours advance notice and subject to the reasonable security requirements of Buyer, Dectarant or its authorized representatives may from time to time, at any reasonable hours, enter upon and inspect the Land, site or any portion thereof or improvements thereon to ascertain compliance with the Restrictions, but without obligation to do so or Liability therefore. NBl-143264.Vl 01/13/93 3.03. DEFAULT AND GENERAL REMEDIES. In the event of any breach, violation or failure to perform or satisfy any of the Restrictions which has not been cured within the applicable cure period set forth below, DecLarant at its sole option and discretion may enforce any one or more of the following remedies or any other rights or remedies to which DecLarant may be entitled by law or equity, whether or not set forth herein. Unless a cure period is otherwise specifically designated, such cure period shalt commence when written notice is given to Buyer of a violation hereunder and shall end ten (10) days thereafter in the case of a monetary default and thirty (30) days thereafter in the case of a non -monetary default; provided, howe�Lerl that if a non -monetary default is not reasonably susceptible of cure within such 30 -day period, then Buyer shalt have a reasonable time to cure same so Long as Buyer has commenced such cure promptly within the 30 -day period and thereafter diligently prosecutes the cure to completion. To the maximum extent allowable by Law, all remedies provided herein or by Law or equity shalt be cumulative and not exclusive; Provided, however, that in the event DecLarant elects to exercise the remedy provided for in Section 3.04 hereof, such remedy shall be Dec1,arantls sole and exclusive remedy for such violation of the Restrictions, although such remedy may be sought in the alternative with other available remedies in any Legal action. (a) DAMAGES. Declarant may bring a suit for damages for any compensable breach of or noncompliance with any of the Restrictions, or declaratory relief to determine the enforceability of any of the Restrictions. (b) EQUITY. It is recognized that a particular or ongoing violation by Buyer of one or more of the foregoing Restrictions may cause DecLarant to suffer material injury or damage not compensabLe in money (including, but not Limited to irreparable effects on the type and quality of development on other property owned by Dectarant, or portions thereon, and that Declarant shall be entitled to bring an action in equity or otherwise for specific performance to enforce compliance with the Restrictions or an injunction to enjoin the continuance of any such breach or violation thereof, whether or not DecLarant exercises any other remedy set forth herein. (c) ABATEMENT. Any such breach or violation of these Restrictions or any provision hereof, if not timely cured as provided above, is hereby declared to be a nuisance, and DecLarant shalt be entitled to enter the Land and surrmariLy abate and remove, without further Legal process to the maximum extent permitted by Law, any structure, thing or condition that may exist in violation of any of these Restrictions, or to prosecute any remedy allowed by Law or equity for the abatement of such nuisance against any person or entity acting or failing to act in violation of these Restrictions, all at the sole cost and expense of Buyer or any person having possession under Buyer. Any costs or expenses paid or incurred by OecLarant in abating such nuisance or prosecuting any such remedy (including all reasonable attorneys' fees and costs of collection) and at[ other sums owing to Declarant hereunder, together with interest thereon at the maximum rate permitted by Law then in effect, shalt be a charge against the Land, shalt be a continuing Lien thereon until paid, and shalt also be the personal obligation of Buyer or other person who was owner of the Land when such charges became due and who committed such breach or violation. (d) MTGAGE �LIEN. In addition to any other rights or remedies hereunder, should a default by Buyer not be timely cured, or upon the terms set forth in Article V hereof, DecLarant may deliver to Buyer and record in the Official Records of the County of Orange a notice of default and election to sell the Land, and assign the Ground Lease, together with all improvements thereon (the "Improvements"), subject to any mortgage Lien thereon (on either the teasehold estate created by the Ground Lease or on the fee estate of Buyer) which shall not be extinguished by such sate. Thereafter, unless all amounts Legally due and owing to Dectarant have been paid, and provided that at t of the requirements of Sections 2920 et seq. of the Cat ifornia Civi L Code and of at L other applicable statutes have been satisfied, DecLarant or su�_htrustee as Dectarant may appoint ("Trustee") may cause the Land and Improvements thereon to be sold at such time and place as may be fixed in said notice of sate or at such time and place to which the sate may be postponed as hereinafter provided without additional notice, either as a whole or in separate parcels, and in such order as Declarant or its Trustee alone may determine, at public auction to the highest bidder for cash in Lawful money of the United States at the time of sate, or upon such other terms as DecLarant or its Trustee may consider advisable. In the event of a sate of the Land and assignment of the Ground Lease, as herein provided, Declarant shalt have the right to require that the buyer thereof covenant and agree that the fee estate in the Land and the Leasehotd estate created by the Ground Lease shall not merge as a result of such purchase by said buyer. Buyer shalt have no right to direct or determine whether the Land shalt be sold as a whole or in separate parcels, or the order of sate of separate parcels or the portion of the Land to be sold if only a portion is sold. Declarant or its Trustee may postpone the sale of the Land by public announcement thereof at the time and place of sate and from time to time thereafter by public announcement at the time and place of the preceding postponement. In conducting or postponing any such sate, DecLarant may act through its agents, officers or employees or any other person designated by DecLarant, whether or not such party shalt be a Licensed auctioneer. At such sate, DecLarant or its Trustee shalt cause to be delivered to the buyer or buyers, one or more duty exercised deed or deeds conveying the property so sold, subject to all the provisions of this Instrument, but without any covenant or warranty, either express or implied. The recitals in such deed or deeds with regard to any matters of fact shalt be conclusive proof of the truthfulness thereof against the buyer at such sate, its successors and assigns, and at( other persons. Any person or entity, including, without Limitation, DecLarant, may bid in or purchase at such sate. No such sate shalt release or extinguish any rights, remedies or provisions contained in this Instrument in the event of any further violation of any Restriction set forth herein. The proceeds of such sate shalt be applied as follows: first, to the expenses of sate incurred by Declarant, including reasonable attorneys, fees; next, to the sums secured hereby; and finally, to the person or persons Legally entitled thereto. As an alternative to the foregoing, Deciarant may elect to foreclose the lien secured hereby by judicial action, in which event Buyer shall be Liable for the expenses incurred by DecLarant in connection therewith, including reasonable attorneys' fees. To the maximum extent permitted by Law, Buyer hereby waives any applicable statue of Limitations, provided that the Lien created herein shalt expire sixty (60) years following the date of recordation of this Instrument. Notwithstanding the foregoing, if Buyer's default is timely cured in accordance with this instrument or applicable Law, DecLarant shalt, upon request by Buyer, record at Buyer's expense an appropriate notice of rescission in accordince with the applicable provisions of the Civil Code of California. . t 3.04. ADDITIONAL PURCHASE PRICE. (a) PArp;Z�T ZW ZZ:TIONAL ;­ ; -- ---- --- ;—. ­,� ­' Dectarant, DecLarant may elect for any violation of the Restrictions itemized in Section 2.01 not cured within the time set forth above, as its exclusive remedy and in Lieu of any remedies permitted by Section 3.03, to obligate Buyer to pay to DecLarant thirty (30) days after written demand, an additional purchase price for the Land computed as described below, together with interest thereon at the maximum rate then permitted by Law accruing from and after the occurrence of any such event until the date of actual payment. Buyer's obligation to pay such additional purchase price shalt be secured by the lien of this instrument described in Section 3.03(d) above, and shalt be subject to the power of sate provisions therein. No failure by DecLarant to exercise its rights to require one or more of such payments, and no prior exercise of such as to a previous violation, shalt constitute a waiver of Dectarant's rights to require such payment at any Later time or times white this Instrument is stilt in effect, and so Long as any such violation may continue. (b) DETERMINATION OF ADDITIONAL PURCHASE PRICE. The additional purchase price resulting from a violation of the Restrictions identified in this Section 3.04 shall be determined by callcutating the difference NBI-143264.Vl 3 01/13/93 between (i) the then current fair market value of the Land based on the use being made of the Land by Buyer and predicated on the assumption that said violation of the Restrictions is authorized and permitted herein and (ii) the then current fair market value of the Land based on the use of the Land by Buyer consistent with the Restrictions and assuming said violation is not authorized and permitted herein, but in no event shaiL the additional purchase price be a negative number. "Current" fair market value shalt refer to the value determined as the date of notice from DecLarant to Buyer of a violation of the Restrictions. If the parties cannot agree upon the additional purchase price within twenty (20) days after written notice by Dectarant to Buyer of violation of the Restrictions, then such fair market values shalt be determined by an independent appraiser appointed by DecLarant (and reasonably acceptable to Buyer), who shalt be a member of the American institute of Rest Estate Appraisers and whose decision in this matter shalt be final, conclusive and binding. At[ fees for such appraiser shalt be borne equally by Dectarant and Buyer. If Dectarant and Buyer are unable to agree on a single appraiser within twenty (20) days after demand by either party, then each party shalt select its own duty qualified M.A.I. appraiser within ten (10) days thereafter and the two such 'appraisers shall mutually select a third appraiser within ten (10) days after the second of such appraisers is chosen. The average of the two appraisals closest in amount shalt be final conclusive and binding as to the amount of the additional purchase price. In such event, each of the parties shalt bear the fees and charges of its own appraiser, and those of the third appraiser shalt be borne equally by Dectarant and Buyer. The additional purchase price shalt be due on the date of notification to Buyer by DecLarant or such later date as the additional price is determined as herein provided. 3.05. DECLARANTIS RIGHT OF FIRST OFFER. If, at any time within sixty (60) years after the recordation of this Instrument, Buyer shalt determine to sell all or any part of the Land or any interest therein ("Interest") to a person or entity other than an Affiliate of Buyer, then Buyer shalt notify Dectarant of the priceand the terms onwhich Buyer will be willing toseLL. If Dectarant, within thirty (30) days after receipt of Buyer's notice, indicates in writing its agreement to purchase said Interest for the price and on the terms stated in Buyer's notice, Buyer shalt sell and convey the Interest to Declarant for the price and on the terms stated in such notice. If DecLarant does not indicate its agreement within such thirty (30) day period, Buyer thereafter shalt have the right to sell and convey the Interest to a third party, but only for a price not Less than the price offered to DecLarant and on terms not more favorable than those stated in the notice. If Buyer does not so sell and convey the Interest within one hundred eighty (180) days, any further transactions or any changes more favorable to DecLarant in the price or terms previously submitted to DecLarant shalt be deemed a new determination by Buyer to sell and convey said Interest, and the provisions of this Section shalt again be applicable. ARTICLE TV APPROVAL OF 114PROVEMENTS AND PERFORMANCE OF WMK 4.01. PLAN REVIEW. No improvement on the Land of any nature costing in excess of Twenty Thousand DoLtars (S20,000), including but not Limited to any alteration or addition to any Improvements existing from time to time, but exclusive of any interic.- or tenant improvement not visible from the exterior of any building on the Land, shalt be installed, developed, constructed, placed or assembled and maintained on the Land at any time during the twenty-five (25) years after the recordation of this Instrument until the various submittals (herein, the "Submittals") required by this Section shalt have been approved in writing by DecLarant. Separate and progressive Submittals regarding Improvements shalt be made by Buyer for approval as follows: (a) Two (2) sets of schematic plans and preliminary specifications shalt be submitted to DecLarart, including at Least grading plans and site plans showing in reasonable detait the proposed type of use, size, Land coverage and the shape, height, location, material, color scheme and elevation of each proposed Improvement. W Two (2) sets of final working drawings and specifications, based on approved basic design concepts and schematic plans and preliminary specifications, including at Least color and material palette and signage, shalt be submitted before commencement of any Improvements. 4.02. GENERAL REQUIREMENTS. Partial Submittals may be made and approved, but in no event shatL construction or assembly of any Improvement proceed beyond the scope of the approval received. ALL plans and specifications to be submitted toDecLarant hereunder shalt be prepared by an architect and/or engineer Licensed to practice in the State of California, and shalt be submitted in writing over the signature of Buyer or an agent duty authorized by Buyer in writing. 4.03. APPROVALS. Provided that Submittals are in conformity with these Restrictions and are accompanied by a written notice to Vectarant containing the sentence next following this sentence, Dectarant shalt not unreasonably withhold its approval of any such Submittal. Notwithstanding anything to the contrary contained in this Article IV, Declarant shalt be conclusively deemed to have given its approval thereof unless, within ten (10) business days after any such Submittal has been received, DecLarant shalt give express written notice specifying in reasonable detait each item which DecLarant disapproves and the reasons for the disapproval. Unless so disapproved, Declarant shalt endorse its approval on one set of submitted documents and return the same to the person from whom the documents were received, provided that two (2) sets had been submitted as required above. 4.04. BASIS OF APPROVAL. without ti-miting the generality of the foregoing, DecLarant in its sole discretion may approve or disapprove any Submittals which are not in harmony or conformity with other existing or proposed Improvements on or in the vicinity of the Land, or with any restrictions contained in this Declaration, or with any applicable governmental regulations, or with DecLarant's master utility, circuL'ation or general aesthetic or architectural plans and criteria for the Land, including but not Limited to such matters as adequacy of site and Improvement dimensions or external structural appearance, retation of topography, grade and elevations of the Land being improved with neighboring sites and nearby streets, and the effect of Location and use of Improvements on neighboring sites, improvements or operations. 4.05. CERTIFICATES OF COMPLIANCE. Prior to commencement of any such work of Improvement, Buyer shat1l, upon DecLarant's written request tneretoee, suppty ueckdFaIlL witn a Ctfl'Llyicatjon oy a uuty ticensea civil, engineer or Land surveyor verifying that the proposed Improvements will be Located on the correct parcel of Land and in accordance with the Submittals previously approved by DecLarant. upon completion of any such Improvements, Buyer shalt, upon Dectarant's written request therefore, supply DecLarant with a certification by a duty Licensed or registered architect (including the Landscape architect in the case of Improvements consisting of Landscaping) that the Improvements as designed by such architect have been completed in accordance with the final working drawings and specifications previously approved by Declarant pursuant to Sections 4.01 through 4.03 above. 4.06. PRESLWTION OF COMPLIANCE. Notwithstanding anythingto the contrary herein contained, after the expiration of the earlier to occur of (i) one (1) year from either (a) the date of issuance of a certificate of occupancy by the applicable municipal or other governmental authority for any Improvement, if applicable, or (b) the date of recording a valid Notice of Completion with respect to such Improvement, or (ii) one-bAe4oed tvemofi-(4� calendar days after Buyer has served DecLarant as provided in Section 6.09 below with copies of C? T NBI-143264.Vl 4 01/13/93 either the foregoing certificate of occupancy or Notice of Completion, then any such Improvement shaLt, in favor of any purchasers and encumbrancers in good faith and for value ' be deemed to be in compliance with all provisions of this Article IV, unless prior to the passage of the Lesser of such periods of time either (A) actual notice of such noncompliance or noncompLetion, executed by DecLarant, shalt have been deLivered to Buyer and, if recordable, shalt appear of record in the office of the County Recorder of orange county, California, or (8) Legal proceedings shalt have been instituted to enforce compliance or completion. 4.07. EXPIRATION OF APPROVALS. Except as may be specifically required in any other document recorded by DecLarant, Buyer shalt have a peri�d of one (1) year from the date of Dectarant's approval of any Improvement to the Land pursuant to Section 4.03 above within which to commence such work of Improvement in accordance with the approved documents. If Buyer fails to commence the work covered by any approved Submittal within such time period, any previous approvals given by Dectarant for such Improvement or Submittals shalt be invalid, and Buyer shalt make entirety new Submittals to DecLarant pursuant to Section 4.01 above prior to commencing such work of Improvement. In addition, Dectarant's approval of any individual Submittal shalt expire one (1) year from the date such approval is given by Declarant unless commencement of construction of the Improvements covered by such Submittal has commenced or Buyer has submitted subsequent Submittals based upon or incorporating the earlier approved Submittal. The time periods in this Section shalt be extended by the period of delays outside Buyer's control, provided that the Buyer shalt have the burden of proving such delays. 4.08. IDENTICAL REPLACEWNTS. Notwithstanding the foregoing, any Improvement on the Land existing as of the recordation hereof or for which Submittals were previously approved by Declarant as provided above may be repaired, replaced, or reconstructed without further consent by DecLarant, but only if the repair, replacement, or reconstruction is substantially identical to such prior Improvement. 4.09. EXCULPATION. Declarant shalt not be Liable in damages to anyone making Submittals as provided herein, or to any Buyer, Licensee or other person subject to or affected by Restrictions, on these account of (i) Dectarant's approval or disapproval of any Submittal, whether or not defective, (ii) any construction, performance or nonperformance by a Buyer of any work on the Land or Improvements, whether or not pursuant to approved Submittals, (iii) any mistake in judgment, negligence, action or omission in exercising Declarant's rights, powers and responsibi L i ties hereunder, and Ov) the enforcement or failure to enforce these Restrictions. Every person who makes Submittals to Dectarant for approval agrees by reason of such Submittal, and every Buyer of the Land, Improvements or any portion thereof agrees by acquiring title thereto or an interest therein, not to bring any suit or action against DecLarant seeking to recover any such damiages. DecLarant's approval of any Submittal shalt not constitute the assumption of any responsibility by, or impose any Liability upon, DecLarant or its representatives as to the accuracy, efficacy or sufficiency thereof. Nothing contained in this Section shalt, in any way, be deemed to release DecLarant from liability for fraud, intentional acts, or any breach of Dectarant's obligations under this Instrument. 4.10. ARCHITECTURAL REVIEW FEE. An architectural review fee of Seven Hundred Fifty Dollars ($750.00) shalt be paid to DecLarant at or before the time preliminary plans and specifications, prepared by a duty Licensed architect and/or engineer, are submitted for approval, which fee shalt cover DecLarant's review cost of ail Submittals. 4.11. LANDSCAPING. Buyer shalt be responsible for regular maintenance for all planted and undeveloped areas and all parking areas upon the Land and shalt keep the same free and clear of weeds, debris and rubbish, in a neat and clean condition. In particular, all unpaved areas shalt be fully and adequately Landscaped by Buyer, and Buyer shalt provide hose bibs, automatic sprinklers and other reasonable and adequate landscape maintenance facilities in the vicinity of ail Landscaped areas. 4.12. DRAINAGE. No water shalt be drained or discharged from the Land or Improvements thereon --and no Buyer shalt interfere with the drainage established as of the date of these Restrictions (which drainage is acceptable to and approved by DecLarant)--in or over the remainder of the Land or any other property adjacent to the Land, except in accordance with plans therefor approved by aLL public agencies having jurisdiction; provided, that no water shalt be drained or discharged at any time onto or diverted from any adjacent lands owned by Dectarant. 4.13. SIGNS. ALL signs shalt be subject to the prior written approval of Dectarant in its sole discretion and shalt conform to all governmental requirements then in effect. Notwithstanding anything to the contrary contained herein, the signage existing as of the date of these Restrictions has been approved by Dectarant. 4.14. MAINTENANCE AND REPAIRS. The Land and at[ Improvements thereon shalt at ail times be kept and maintained in first-class, condition, repair and appearance similar to that maintained by Dectarant and other owners of high-class properties of similar class and construction in Orange County, ordinary wear and tear excepted. ALL repairs, alterations, replacements or additions to Improvements shalt be at Least equal to the original work in class and quality. Buyer shalt keep the Land and aLL Improvements adequately insured against Loss or damage by fire and other risks and shalt carry adequate public liability insurance. In the event of any such damage or casualty, Buyer shalt promptly restore in a good and workmanlike manner any portions of the Land or Improvements that have been so damaged or destroyed, subject to Buyer's ability to obtain all required goverrtwntat approvals therefor; provided, that Buyer shalt use its best ditigent efforts to obtain all such approvals.. Buyer shalt also be responsible at ail times for determining that all improvements and the plans and specifications therefor shalt conform and comply in all respects with these Restrictions, all other restrictions of record, all appticabLegovernmentat regulations, and all exterior architectural design, Location and color specifications contained therein. (a) Dectarant agrees that, to the extent that the Improvements are damaged or destroyed and reconstruction is economically unfeasible, Buyer shalt have the right to raze and demolish such Improvements and, within a reasonable time, commence construction of new Improvements on the Land; provided, however, that: 0) The new Improvements must comply with ail requirements of this instrument regarding use and size; and Cii) ALL plans and specifications for such Improvements must be approved by Declarant as provided herein and comply with ail then applicable codes and regulations. 4.15. CONFLICTS. In the event of any inconsistency between the provisions of this Article and those of any covenants conditions and restrictions encumbering the Land and recorded prior to the date hereof, then the latter shalt control. ARTICLE V PLARIMA PROVISIONS 5.01. DECLARANTIS WATERWAY. The provisions of this Article V shalt remain in full force and effect for sixty (60) years after the recordation of this Instrument. Buyer hereby acknowledges and agrees that, as a material inducement to Declarant to enter into the transaction contemplated by this Agreement, the property ffB1-143264,V1 5 01/13/93 being sold to Buyer pursuant to this Agreement does not, and shalt not at any time in the future, include any Littoral rights with respect to the waterway adjacent to the Land and the marina currently located thereon owned by Declarant or any future improvements Located thereon or any enhancements, repairs or replacements thereof (collectively, the "Waterway"), all of which are expressly reserved by Declarant. BLryer further acknowledges that the rights retained by DecLarant pursuant to this Article V enhance the value of Land owned or Leased by Dectarant and/or the other interests which Dectarant may have in such Land and that Declarant would not have entered into this Agreement if the property being sold to Buyer included any littorat rights with respect to the Waterway and that the Purchase Price for the Land has been established by Dectarant based upon Dectarant's continued right to own, occupy, use, operate, Lease or otherwise alienate the Waterway. The provisions of this Article V shall not affect any rights which Buyer may have, if any, to use the Waterway as a member of the general public and not arising out of Buyer's ownership of the Land. Buyer hereby expressly and fully relinquishes and releases unto Dectarant any and all Littoral rights that it may now or hereafter have or claim with respect to the Waterway, including without Limitation any such right, title or interest claimed, asserted or resulting from the fact that the Land abuts the Waterway. Buyer further fully and unconditionally wal . Yes any and aLL rights it may now or hereafter have or assert to enjoy, invoke or use the Waterway or any Littoral rights relating thereto and acknowledges and agrees that by entering into this Agreement Buyer is estopped from asserting or exercising any rights to enjoy, invoke or use the Waterway or any Littoral rights relating thereto at any time now or hereafter. Buyer acknowLedges and agrees that Dectarant, or its successors and assigns, shalt be entitled to own, occupy, use, operate, Lease or otherwise alienate the Waterway in the manner that DecLarant, or such successors and assigns, elect in their sole discretion. Buyer hereby covenants and agrees that it shall not at any time in the future assert any right, title or interest with respect to the Waterway or challenge, object to, or interfere with, DecLarant's ownership, occupancy, use, operation, Lease or alienation thereof. In the event Buyer, or any of its successors or assigns, at any time in the future asserts any right, title or interest with respect to the Waterway or challenges, objects to, or interferes with DecLarant's or any successors' or assigns' ownership, occupancy, use, operation, Lease or alienation thereof, Dectarant shalt be entitled to exercise any and all of its rights and remedies under the Special Restrictions, including, without Limitation, the right to receive payment of an additional purchase price from Buyer, or such successors or assigns, as provided in Section 5.02. Notwithstanding anything to the contrary set forth herein, Buyer and DecLarant acknowledge that, in the highly unLikety event that a court or other governmental authority at some future date decides that the Littoral rights have been transferred to or are appurtenant to the property conveyed to Buyer despite the express agreement of Buyer and Declarant to the contrary, Buyer and DecLarant have entered into a Lease of the Waterway, which tease shall remain in full force and effect in the event of any such determination adverse to DecLarant's ownership, occupancy, use, operation, tease or alienation of the Waterway. Notwithstanding the foregoing, Buyer acknowledges that such tease is being entered into solely as a means of fulfilling the express intent of the parties that DecLarant shalt retain all Littoral rights relating to the Land and the Lease, and its execution thereof by DecLarant, shall not be deemed or construed to confer upon Buyer, or its successors and assigns, any Littoral, rights relating to the Land. 5.02. ADDITIONAL PURCHASE PRICE. In the sole option and discretion of Declarant, Dectarant may elect for any violation of the Restrictions itemized in Section 5.01, as its exclusive remedy and in Lieu of any remedies permitted by this Instrument, to obligate Buyer to pay to Dectarant, as coq*nsation for DecLarant's right, title and interest in and to the Waterway, within thirty (30) days after written demand, an additional purchase price for the Land computed as described below, together with interest thereon at the maximum rate then permitted by Law accruing from and after the occurrence of any such event until the date of actual payment. Buyer's obligation to pay such additional purchase price shalt be secured by the Lien of this instrument described in Section 3.03(d) above, and shalt be subject to the power of sale provisions therein. No failure by Dectarant to exercise its rights to require one or more of such payments, and no prior exercise of such as to a previous violation, shalt constitute a waiver of Declarant's rights to require such payment at any Later time or times white this Instrument is still in effect, and so Long as any such violation may continue. 5.03. DETERMINATION OF ADDITIONAL PURCHASE PRICE. The additional purchase price resulting from a violation of this Instrument identified in Section 5.01 shalt be the greater of (a) the difference between the then current fair market value of the Land and the waterway based on the use of the Land and the Waterway by Buyer and predicated on the assumption that the use and ownership of the waterway by Buyer is authorized and permitted herein, and the then current fair market value of the Land (without the Waterway) based on the use of the Land by Buyer and the use and ownership of the Waterway by Seller as permitted herein, or (b) the then current fair market value of the Waterway. In the event the parties are unable to agree, "current" fair market value shalt be determined by the appraisal process provided in Section 3.04(b) hereof. The additional purchase price shall be due on the,date of notification to Buyer by DecLarant or such Later date as the additional price is determined as herein provided. At such time as the additional purchase price is paid by Buyer, DecLarant shalt transfer, to Buyer at Buyer's expense, fee ownership of aLL Littoral rights, rights to use the Waterway and the improvements Located thereon, and such other related rights to Buyer, and such permits and Licenses as may be necessary for fee ownership of the foregoing; provided that all of the foregoing shalt be Leased to DecLarant by Buyer pursuant to the Lease between the parties of even date herewith. ARTICLE VI MISCELLANEOUS PROVISIONS 6.01. WAIVER. No waiver by DecLarant of a breach of any of the Restrictions by Buyer and no delay or failure to enforce any of the Restrictions shalt be construed or held to be a waiver of any succeeding or preceding breach of the same or any other of the Restrictions. No waiver of any breach or default of Buyer hereunder shall be implied from any omission by Declarant to take any action on account of such breach or default if such breach or default persists is repeated, and no express waiver shall affect a breach or default other than as specified in said waiver. The consent or approval by Deciarant to or of any act by Buyer requiring DecLarant's consent or approval shall not be deemed to waive or render unnecessary Dec(arant's consent or approval to or of any subsequent similar acts by Buyer. 6.02. ADVANCES BY DECLAPANT. Upon ten (10) days w. ; ",— t�, :-, -.-'z -- -- -Z':Z appropriate action to protect and preserve DecLarant's security for its rights and interests under this Agreement within such ten (10) day period, DecLarant shall be entitled to advance any sums DecLarant deems necessary, in its sole discretion, to protect and preserve the security for its rights and interest under this Instrument (including, but not Limited to, sums for completion of construction of any Improvements on the Land, any property taxes or assessments, insurance premiums, or amounts secured or represented by encumbrances or Liens or other charges on any portion of the Land which appear to be prior to DecLarant's rights and interest under this Instrument), all of which advances (together with interest at the maximum rate then permitted by Law) shalt be secured by the Lien of this instrument described in Section 3.03(d) above, and shalt be subject to the power of sale provisions in this instrument if Buyer fails to reimburse DecLarant for such advances within ten (10) days after demand from DecLarant. 6.03. COSTS OF ENFORCEMENT. In the event any Legal or equitable action or proceeding shall be instituted between DecLarant and Buyer to enforce any provision of this Instrument, the party prevailing in such action NB1-143264.V1 01/13/93 shall be entitled to recover from the losing party all of its costs, incLuding court costs and reasonabLe attorneys' fees, charges and reimbursements. 6.04. RIGHTS OF LENDERS. No breach or violation of the Restrictions shaLt defeat or render invatid the Lien of any mortgage, deed of trust or similar instrument securing a [can made in good faith and for vaLue by an institutional Lender with respect to the acquisition or permanent financing of the Land or any portion thereof, or with respect to the construction of Improvements thereon. However, this instrument and alt provisions hereof shalt be binding upon and effective against any subsequent owner or other occupant of the Land or portion thereof whose title is acquired by foreclosure, trustee's sate, deed in Lieu of forecLosure or otherwise, but such subsequent owner shalt have a reasonabte period of time after taking titLe to cure any continuing violation hereunder that is reasonably capable of being cured provided that such subsequent owner continuously and diligently acts to effect such cure. 6.05. ASSIGNMENT BY DECLARANT. Any and aLt of the rights, powers, duties and reservations of DecLarant herein contained may be assigned to any person or entity which wilt assume the duties of DecLarant pertaining to the particular rights, powers and reservations assigned, and upon any such person or entity evidencing its consent in writing to accept such assignment and assume such duties, such assignee shalt, to the extent of such assignment, have the same rights and powers and be subject to the same obligations and duties as are given to and assumed by Declarant herein. 6.06. TERP41KATION OR AMENDMENT. The Restrictions may be validly terminated, amended, modified or extended, in whole or in part, only by recordation in the Official Records of the County of Orange of a proper instrument duty executed and acknowledged by DecLarant and Buyer to that effect. 6.07. CAPTIONS. The captions used herein are for convenience only and are not a part of this instrument and do not in any way Limit or amplify the scope or intent of the terms and provisions hereof. 6.08. INVALIDITY OF PROVISION. If any provision of this Instrument as applied to DecLarant or Buyer or to any circumstance shalt be adjudged by a court of competent jurisdiction to be void, invalid, iLLegaL or unenforceable for any reason, the same shall in no way affect (to the maximum extent permissible by taw) any other provision of this Instrument, the application of any such provision under circumstances different from those adjudicated by the court, or the validity or enforceability of the Instrument as a whole, and any provision so adjudged to be void, invalid, iLLegaL or unenforceable for any reason shall be replaced, if possible, with a valid provision that is enforceable and most nearly carried out the original intent of the parties hereto. 6.09. NOTICES. ALL notices, consents, requests demands and other communications provided for herein shaLL be in writing and shall be deemed to have been duty given if and when personally served or forty-eight (48) hours after being sent by United States registered mail, return receipt requested, postage prepaid, to the other party at the following respective addresses: DECLARANT: THE IRVINE COMPANY P.O. Box I Newport Beach, California 92658-8904 Attention: Mr. Stephen Brahs COPY TO: IRVINE HOTEL COMPANY P.O. Box I Newport Beach, California 92658-8904 Attention: General Counsel BUYER: c/o MARVIN 0. BLIRTON, AS TQUS"r 121 East Hopkins Aspen, Colorado 81611 c/o PATRICK C. STACKER 5 - One WorLd Trade Center, Suite 1800 Long Beach, California 90831 c/o ROGER GEYER 8251 Westminster Avenue Westminster, California 92683 COPY TO: DOUGLAS P. ALLEN, ESQ. 600 East Hopkins, Suite 302 Aspen, Colorado 81611 or at such other address as the Deciarant of the Buyer may designate to the other in writing. 6.10. APPLICATION TO DECLARANT. Notwithstanding anything herein contained to the contrary, if DecLarant reacquires title to the Land or any portion thereof at any time after the date hereof, the Restrictions shatL automatically cease and terminate and be of no further force or effect as to DecLarant and such property, effective as of the date of such reacquisition by Declarant. 6.11. T114E OF THE ESSENCE. Time is of the essence of each provision of this Instrument in which time is an element. 6.12. OTHER RESTRICTIONS. This Instrument may not be the exclusive source of restrictions on the use of the Land, and nothing herein contained shalt prejudice or diminish in any :zz':,-=nt's -7' documents of record from time to time affecting all or any portion of the Land. 6.13. NON -MERGER OF FEE AND LEASEHOLD ESTATE. Buyer acknowledges that no merger of the fee estate in the Land and the Leasehotd estate of the Lessee under the Ground Lease shall occur so tong as any sum is owed either (i) to Deciarant under that certain Purchase Agreement and Escrow Instructions pursuant to which Buyer acquired Land from Declarant or 00 any third party mortgagee providing purchase money financing for such acquisition. So tong as any surn is owed as aforesaid, Buyer shall keep in force the Ground Lease and shalt not modify, amend, terminate, surrender or otherwise atter the Ground Lease in any manner, and any such purported modification, amendment, termination, surrender or other alteration of the Ground Lease shall not be binding upon or effective as to DecLarant or such mortgagee. NB1-143264.V1 01/13/93 IN WITNESS WHEREOF, the undersigned has executed this Instrument as of the date first above written. DECLARANT: THE IRVINE COMPANY, A Michigan Corporation By: DonaLd McNutt Vice President By: Stephen A. Brahs Assistant Secretary ACCEPTED AND AGREED TO: BUYER: 341 BAYSIDE DRIVE, INC., a California corporation By: Its: By: I ts: NB1-143264.V1 01/13/93 STATE OF CALIFORNIA COUNTY OF ORANGE on personalty appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF ORANGE On personalty appeared personalty known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF ORANGE on , personalty appeared I personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF.ORANGE on , personally appeared I personalty known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State NB1-143264.V1 01/13/93 EXHIBIT A LEGAL DESCRIPTION OF THE LAND 341 Bayside Pace[ 1: Lot A, in the City of Newport Beach, County of Orange, State of California, as per map recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder'of said County. Parcel 2: A non-excLusive easement for the encroachment of the second story of the building Located on the above described parceL 1 onto the adjacent property and any repLacements or repairs thereof; provided that any such replacements or repairs shall only be constructed within the air space that the second story of the bui(ding currently occupies as of the date hereof and provided further that in no event shaLL the easement granted hereby be deemed or construed to extend beyond the area currently occupied by the second story of such building. NB1-143264.V1 A-1 01/13/93 EXHIBIT 9 SPECIFIC RESTRICTIONS Permitted Use: Office, retail, restaurant and other commercial uses which are approved by all applicabLe governmental agencies and authorities; provided than in no event shall "Permitted Use" include any type of residential use whatsoever. Maximum Gross Floor Area: 12,600 square feet i Height Limitation: 35 feet NB1-143264.V1 B-1 01/13/93 LEGAL DESCRIPTION OF NBENEFITED PROPERTYN 1. 500 AND 550 NEWPORT CENTER DRIVE Parcel A: Beginning at the easterly terminus of that certain course in the northerly right of way Line of San Nicolas Drive shown as south 80 degrees, 14 minutes, 38 seconds east 91.45 feet on Map of Tract 6015 fited in Book 239, pages 28 through 41 of Miscellaneous Maps, in the Office of said County Recorder; thence along the right of way Lines of said San Nicolas Drive, Newport Center Drive East and Santa Rosa Drive as shown on said Map. The following courses and distances, north 80 degrees, 14 minutes, 38 seconds west 91.45 feet to the beginning of a curve concave northeasterly having a radius of 25.00 feet, northwesterly 38.16 feet along said curve through an angle of 87 degrees, 26 minutes, 49 seconds to the beginning of a reverse curve concave westerly having a radius of 1670.00 feet; northerly 472.13 feet along said curve through an angle of 16 degrees, 11 minutes, 54 seconds to the beginning of a reverse curve concave southeasterly having a radius of 25.00 feet; northeasterty 38.16 feet along said curve through an angle of 87 degrees, 26 minutes, 49 seconds, north 78 degrees, 27 minutes, 06 seconds east 69.97 feet to the beginning of a curve concave northwesterly having a radius of 825.50 feet, northeasterly 195.27 feet along said curve through an angle of 13 degrees, 33 minutes, 11 seconds to a point of a non -tangent curve concave southwesterly having a radius of 25.00 feet, a radial to said point bears north 35 degrees, 38 minutes, 46 seconds east; thence southeasterly 4.81 feet along said curve through an angte of 11 degrees, 01 minutes, 42 seconds to the beginning of a reverse curve concave northeasterly having a radius of 161.00 feet; thence southeasterly 91.20 feet along said curve through an angle of 32 degrees, 27 minutes, 16 seconds to the beginning of a reverse curve concave southwesterly having a radius of 25.00 feet; thence southerly 32.67 feet along said curve through an angle of 74 degrees, 53 minutes, 02 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 25.50 feet to the beginning of a curve concave northwesterly having a radius of 2.00 feet; thence southwesterly 3.14 feet along said curve through an angle of 90 degrees, 00 minutes, 00 seconds to the beginning of a reverse curve concave southeasterly having a radius of 2.00 feet; thence southwesterly 3.14 feet along said curve through an angle of 90'degrees, 00 minutes, 00 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 179.75 feet to the beginning of a curve concave northwesterly haying a radius to 10.00 feet; thence southwesterly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 36 degrees, 51 minutes, 54 seconds west 9.49 feet to the beginning of a curve concave southeasterly having a radius of 10.00 feet; thence southerly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 31.50 feet to "Point All hereinafter referred to; thence continuing south 0 degrees, 53 minutes, 46 seconds east 31.50 to the begirning of a curve concave northeasterly having a radius of 10.00 feet; thence southeasterly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 38 degrees, 39 minutes, 26 seconds east 9.49 feet to the beginning of a curve concave southwesterly having a radius of 10.00 feet; thence southerly 6.59 feet along said curve through an angle of 37 degrees, 45 minutes, 40 seconds; thence south 0 degrees, 53 minutes, 46 seconds east 212.75 feet to the beginning of a curve concave northwesterly having a radius of 25.00 feet; thence southwesterly 24.40 feet along said curve through an angle of 55 degrees, 55 minutes, 53 seconds to the beginning of a reverse concave southeasterly having a radius of 147.00 feet; thence southwesterly 66.40 feet along said curve through an angle of 25 degrees, 52 minutes, 43 seconds to the beginning of a reverse curve concave northwesterly haying a radius of 25.00 feet; thence southwesterly 9.78 feet along said curve through an angle of 22 degrees, 24 minutes, 25 seconds to a point on a non -tangent curve concave southerly having a radius of 950.50 feet and the northerly right of way Line of said San Nicolas Drive, a radial to said point bears north 22 degrees, 12 minutes, 47 seconds east; thence westerly 206.65 feet along said curve through an angle of 12 degrees, 27 minutes, 25 seconds to the point of beginning. 11. 610 NEWPORT CENTER DRIVE Parcel A: That portion of Lot 22 of Tract No. 6015; in the City of Newport Beach, County of orange, State of California, as shown on a Map recorded in Book 239,.pages 28 through 41, inclusive, of Miscellaneous Maps, in the office of the County Recorder of said County; tying southeasterly of the boundary of a Map filed in Book 25, page 14 of Parcel Maps, Records of said County. 111. 690 NEWPORT CENTER DRIVE Parcel 8: Parcels 2 and 3 of PareL Map No. 83-715, in the City of Newport Beach, County of Orange, State of California, as shown on a Map f I I ad I n Book 196, pages 13 through 16, 1 nc L us I ve, of Parcel Maps, I n the Of f I ce of the County Recorder of said County. IV. FASHION ISLAND Parcel A: Parcels 1 through 9, inclusive, in the City of Newport on Parcel Map No. 86-399 as per map filed In Book 221, Office of the County Recorder of said County. Parcel 9: Beach, County of orange, State of California, as shown pages 30 through 36, inclusive, of Parcel Maps, in the Lots 13 through 17, inclusive, Lots 0, R, S, U, R-1, R-2, and R-3 of Tract No. 6015, in the City of Newport Beach, County of orange, State of California, as per Map recorded in Book 239, pages 28 through 41, inclusive, of MfseLLaneous Maps, in the Office of the County Recorder of said County. Parcel C: Parcel 1, in the City of Newport Beach, County of Orange, State of California, as shown on a Parcel Map filed in Book 67, pages 2 and 3 of Parcel Maps, in the Office of the County Recorder of said County. Parcel 1, in the City of Newport Beach, County of Orange, State of California, as shown on a Parcel Map filed in Book 75, page 48 of Parcel Maps, in the Office of the County Recorder of said County. Parcel E: Parcel 4 of Parcel Maps, as shown on a Map filed in Book 67, pages 2 and 3 of Parcel Maps and Lot W of Tract No. 6015, as per Map recorded in Book 239, pages 28 through 41, inclusive, of MiseLlaneous Maps, all in the City of Newport Beach, County of Orange, State of California, in the Office of the County Recorder of said County, lying within the Land described as Parcels 1 and 2 of that certain Lot Line Adjustment N.B.L.L.A. 87-3, recorded November 13, 1987, as Instrument No. 87-640346, Official Records of said County. FI.EXC Exhibit C to Declaration 11/11/91 EXHIBIT E FORM OF NOTE N81 -143265.V1 E-1 01/18/93 PURCHASE MONEY PROMISSORY NOTE (341 Bayside Drive) $375,000.00 MAKER'S PROMISE TO PAY 1 1993 Newport Beach, California FOR VALUE RECEIVED, 341 RAYSIDE DRIVE, INC., a California corporation ("Maker") jointly and severally promise to pay to the order of THE IRVINE COMPANY, a Michigan corporation ("Payee"), at the address set forth in Section 3 hereof, the principal sum of Three Hundred Seventy -Five Thousand Dollars ($375,000), together with accrued interest on ihe unpaid principal balance at the applicable rate as set forth in Section 2 hereof. Maker acknowledges and agrees that Payee may assign or otherwise transfer this Note at any time. Payee or anyone who takes this Note by any such transfer and who is entitled to receive payments under this Note is sometimes hereinafter referred to as the "Note Notcler." 2. INTEREST The unpaid principal balance hereof shall bear interest from the date the Deed of Trust (as defined in Section 12 hereof) is recorded in the Official Records of orange County, California (the "Initial Daten) and shall continue until the full amount of principal hereof has been paid. Commencing on the initial Date and continuing until the five (5) year anniversary of the first (Ist) day of the calendar month following the Initial Date or, if the Initial Date is the first (1st) day of a calendar month, the five (5) year anniversary of the Initial Date (the RKaturity Daten), interest on the unpaid principal balance hereof shall be calculated at a per annum rate equal to the per annum interest rate announced by WeLLs Fargo Bank, N.A. on the Initial Date, or on such other subsequent date as hereinafter provided, as its "prime rate" to commercial customers, plus one percent 0%) (the "Interest Rate"); provided, however, that on the first (1st) day of the calendar month following the Initial Date and on the first (1st) day of each calendar month thereafter until the full amount of principal hereof has been paid, the Interest Rate shall be recalculated in the same manner set forth above (with the use of the "prime rate" announced by Wells Fargo Bank, N.A. on the first (1st) day of such calendar month or, if such day is not a business day, then on the next succeeding business day provided that any adjustment to the Interest Rate shall be effective as of the Ost) day of such month) and any adjustment made to the then existing interest Rate shall be effective as of such date and shall continue until any subsequent adjustment is made to the Interest Rate as provided herein. If, at any time, Wells Fargo Bank, N.A. shall not publicly announce its "prime rate," then the "prime rate', shall be the highest reference, base or prime rate in effect as announced by the Largest bank (in terms of capital and surplus) having its principal offices in Los Angeles, California. Interest shall be calculated on the basis of a 360 -day year. Notwithstanding the foregoing, upon the occurrence of an Event of Default as described in Section 6(a) below, and for so Long as such default continues, the sum(s) of principal and accrued interest then due and payable hereunder, whether by acceleration or otherwise, shall bear interest at the rate of the then -current Interest Rate plus four percent (4%) per annum (the "Default Rate"). 3. PAYMENT NOTICE TO MAJCER: THE PAYMENT OF PRINCIPAL AND INTEREST AND ANY OTHER SUMS THEM DUE HEREUNDER IS A BALLOON PAYMENT. MAXER HAS NO RIGHT WHATSOEVER TO EXTEND OR RENEW THIS NOTE WHEN THE BALLOON PAYMENT BECOMES DUE ON THE MATURITY DATE. NOTE HOLDER IS UNDER NO OBLIGATION TO REFINANCE THE LOAN AT THAT TIME. Maker shall prepay through escrow the amount of interest which will accrue on this Note at the Interest Rate from the Initial Date up to the first (1st) day of the calendar month immediately following the Initial Date; provided that if such Initial Date shall be the first Ost) day of a calendar month, then no prepayment of interest by Maker shall be required. Maker shall make monthly payments of interest only under this Note in the amount of ' Dollars (S ) [based upon 30 year amortization] beginning on the first Ost) day of the second (2nd) calendar month following the Initial Date (the "First Payment Date") and on the first (1st) day of each and every calendar month thereafter until the Maturity Date. On the Maturity Date, the entire unpaid principat balance hereof, together with accrued but unpaid interest thereon and any other sums then due hereunder, shall immediately become due and payable in full. If all sums of principal and accrued unpaid interest and other amounts due under this Note are not paid on the Maturity Date, then all. of such sums shall bear interest from the Maturity Date until paid in full at the Default Rate as adjusted from time to time. Any payments received by Note Holder pursuant to the terms hereof shall be applied first to the payment of any sums, other than principal and interest, due Note Holder pursuant to the terms hereof, next to the payment of all interest accrued to the date of such payment, and then to the payment of principal. ALL payments hereunder are payable in Lawful money of the United. States of America to The Irvine Company, 550 Newport Center Drive, Newport Beach, California 92660, Attention: Irvine Investment Company, or at such other place as the Note Holder hereof may designate from time to time. 4. NAJCERIS RIGHT TO PREPAY Maker shall have the right to prepay all or part of the unpaid principal balance hereof, together with accrued but unpaid interest thereon, at any time without penalty. 5. INTEREST RATE LIMITATION Note Holder and Maker hereby stipulate and agree that the transaction contemplated hereby is not SuL. =1 t,: t�z usur". � --:- -A .1.. ­­ -9 — I , 1-h- immediately preceding sentence, if it is determined that the transaction contemplated hereby is subject to the usury laws of the State of California, Note Holder and Maker stipulate and agree that none of the terms and provisions contained herein or in any document or instrument executed in connection herewith shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the Laws of the State of California. If any Note Holder shall coLLect monies which are deemed to constitute interest which would otherwise increase the effective interest rate on this Note to a rate in excess of the maximum rate permitted to be charged by the Laws of the State of California, all such sums deemed to constitute interest in excess of such maximum rate shall, at the option of Note Holder, be credited to the payment of the sums due hereunder or returned to Maker. NBI-143263.Vl 1 01/18/93 6. DEFAULT The occurrence of any of the fot Lowing shatL be deemed to be an "Event of Default" under this Note: (a) the failure of Maker to pay interest and any other sums within fifteen (15) days after written notice from Payee that such amounts are delinquent or the failure of Maker to pay principal when due pursuant to the terms hereof; (b) the fai Lure of Maker to fully comply with any other covenant or obligation under this Note; (c) the failure of Maker to fully comply with any covenant or obligation under the Deed of Trust or any other security instrument now or hereafter securing this Note (collectively, the "Security Documents"); or (d) a default by Maker under any other document evidencing the creation of a Lien or other encumbrance against the Property (as defined in the Deed of Trust), or any portion thereof, including, without Limitation, the Declaration (as defined in the Deed of Trust); provided, however, that nothing in this subparagraph shall be deemed a consent by Note Holder to the creat'ion of any such lien or encumbrance. 7. RBIEDIES Upon the occurrence of an Event of Default hereunder, Note Holder may, in its sole and absolute discretion and without demand or notice to Maker, (a) declare the entire unpaid balance hereof, together with accrued but unpaid interest thereon and any other sums then due hereunder, immediately due and payable, (b) take all actions and pursue all remedies permitted under the Security Documents, and (c) exercise any and all rights and powers and pursue any and aLL remedies now or hereafter available under applicable Law. No delay or omission on the part of Note Holder in exercising any right or remedy under this Note, the Deed of Trust or any other Security Document shall operate as a waiver of such right or remedy. 8. LATE CHARGE If any payment due hereunder is not received by the Note Holder within ten (10) calendar days after the date quch payment is due, Maker shaLL pay to Note Holder, without demand, a late charge in an amount equal to four ercent (4%) of the amount past due. it would be impracticable or extremely difficult to fix the Note Holder's actuaL damages if payment is not paid when due hereunder, and said Late charge shall be deemed to be the Note Holder's damage for any such Late payment, but shaLL not Limit the Note Holder's right to compel, prompt performance of any obligation or to exercise any other remedy under this Note, the Deed of Trust or any other Security Document. No Late charge assessed shalL exceed the maximum permitted by Law. 9. NOTICES Any notice, request, demand, instruction or other communication to be given to any party hereunder shall be in writing and shall be deemed to have been duly given three (3) business days after deposit in the United States mail or, if personally delivered or sent by registered or certified mail, return receipt requested, when delivered, as follows: If to maker: c/o MARVIN 0. BURTON, kg-TRUSTEr 121 East Hopkins Aspen, Colorado 81611 c/o PATRICK C. STACKER One World Trade Center, Suite 1800 Long Beach, California 90831 c/o ROGER GEYER 8251 Westminster Avenue Westminster, California 92683 copy to: Douglas Allen, Esq. 600 East Hopkins, Suite 302 Aspen, Colorado 81611 If to Payee: THE IRVINE COMPANY c/o Irvine Investment Company P.O. Box I Newport Beach, California 92658-8904 Attn: Mr. Brian McDonald The addresses and addresses for the purpose of this paragraph may be changed by giving written notice of such change in the manner herein provided for giving notice. However, unless and until such written notice of change is actually received, the Last address and addresses as stated by written notice, or provided herein if no written notice of change has been received, shall be deemed to continue in effect for all purposes hereunder. 10. WAIVERS Maker herebywaives diligence, presentment, protest ancidemand, notice of protest, demand, dishonor and nonpayment of this Note, and notice of intention to accelerate the maturity of this Note and expressly agrees that, without in any way aTTecting Toit: LiacitiLy ui ndKt:i may extend any maturity date or the time for payment of any installment due hereunder, accept additional security, release any party Liable hereunder and release any security now or hereafter securing this Note. Maker further waives, to the full extent permitted by law, the right to plead any and all statutes of Limitations as a defense to any demand on this Note, or on any deed of trust, security agreement, Lease assignment, guaranty or other agreement now or hereafter securing this Note. Maker hereby waives all rights of setoff and counterclaim with respect to this Note, including rights of setoff and counterclaim with respect to this Note which may arise from claims heretofore unknown to Maker. 11. ATTORNEYS' FEES If the Note Holder seeks Legal advice following a default by Maker hereunder or refers this Note to collection or to reclaim, protect, preserve or enforce its interest in this Note, in the Deed of Trust or NB1-143263.V1 01/18/93 in any other Security Document, then Maker shaL I pay at L reasonable attorneys' fees and expenses and other costs relating thereto. 12. THIS NOTE SECURED BY A DEED OF TRUST This Note is secured by a Deed of Trust and Assignment of Rents of even date herewith executed by Maker, as trustor, to Chicago Title Insurance Company, as trustee, and naming Payee, as beneficiary (the "Deed of Trust"), which Deed of Trust shall be recorded in the Official Records of Orange County, California. 13. ACCELERATION BY REASON OF TRANSFER The Deed of Trust contains the foL towing t imitations on the right of Maker to transfer the Property or any beneficial interest in Maker: "Trustor shalt not transfer the Property or any portion thereof or interest therein without the prior written consent of Beneficiary, which consent shall not be unreasonably withheld. Without Limiting the generality of the foregoing, Trustor acknowledges and agrees that it shalt not be unreasonable for Beneficiary to withhold its consent to any transfer of the Property or an interest therein or a portion thereof to a person or entity whose net worth is Less than One Million Dollars ($1,000,000) as of the date of such proposed transfer. If consent should be given, any such transfer shall be subject to this Deed of Trust, and any transferee shalt assume aLL of Trustor's obligations hereunder and agree to be bound by aLL provisions and perform all obligations contained herein. In the event of any such transfer without the written consent of Beneficiary, Beneficiary may, at its option, without demand or notice, declare aLL sums secured hereby immediately due and payable. Consent to one such transfer shall not be deemed to be a waiver of the right to require consent to future or successive transfers. As used herein, the term "transfer" shalt mean: (a) the sale, agreement to sell, grant of any option to purchase, conveyance or other transfer of the Property, or any portion thereof or interest therein, whether voluntarily, involuntarily, by operation of Law or otherwise, or the Lease of the Property, or any portion thereof, but shalt not include (i) the conveyance of easements reasonably necessary for the development of the Property, 00 the Leasing of space in any improvements now or hereafter Located on the Property in the ordinary course of Trustor's business, or (iii) the assignment of the Lessee's interest under that certain ground lease dated April 30, 1968, as amended from time to time prior to the date hereof, between Beneficiary, as Lessor, and Balboa Investment Group, a California general partnership as Lessee (the "Ground LeaseJl) to a third party provided that such assignment does not require the prior consent or approval of the Lessor thereunder; (b) any transfer by way of security, including the placing or permitting the placing on the Property of any mortgage, deed of trust, assignment of rents or other security device, but shalt not include any encumbrance now or hereafter existing solely against the Lessee's leasehoLd estate under the Ground Lease; or (c) the transfer of a "controlling interest" in Trustor or a transfer of a "controtting interest" in any general partner of Trustor which is a joint venture or general or Limited partnership, whether voluntarily, involuntarily, by operation of Law or otherwise. For purposes hereof, the term 11controLLing interest" shalt mean any transl�r or other disposition of any interest in such entity whereby the effective control of the management of such entity is altered, Limited or otherwise modified in any manner." 14. SEVERABILITY Every provision of this Note is intended to be severable. In the event any term or provision hereof is declared by a court of competent jurisdiction to be illegal or invalid for any reason whatsoever, such illegality or invaLidity shalt not affect the balance of the terms and provisions hereof, which terms and provisions shall remain binding and enforceable, and any provision so adjudged to be void, invalid, illegal or unenforceable for any reason shall be replaced, if possible, with a valid provision that is enforceable and most nearly carries out the original intent of the parties hereto. 15. NLMER AND GENDER In this Note the singular shalt include the plural and the masculine shalt include the feminine and neuter gender, and vice versa, if the context so requires. 16. TIME IS OF THE ESSENCE Time is strictly of the essence under this Note and any amendment, modification or revision hereof. 17. CHOICE OF LAU This Note shall be governed by and construed in accordance with the Laws of the State of California. In the event of a dispute hereunder, it is agreed that the sole and exclusive venue shall be in a court of competent jurisdiction in Orange County, California, and the parties hereto agree to submit to the jurisdiction of such court. 18. JOINT AND SEVERAL LIABILITY If this Note should be signed by more than one party, the liability under this Note of each party shall be joint and several. In addition, if Ma ' ker is a partnership, the liability under this Note of each general partner of Maker, and the Liability of each general partner of a partnership which is itself a general partner of Maker, shall be joint and several. NBI-143263.Vl wMakerO 341 BAYSIDE DRIVE, INC., a California corporation By: Its: By: Its: 3 01/18/93 EXHIBIT F FORM OF PURCHASE MONEY DEED OF TRUST N81 -143265.V1 F-1 01/18/93 RECORDING REQUESTED BY, AND WHEN RECORDED, MAIL TO: THE IRVINE COMPANY c/o Irvine Investment Company 550 Newport Center Drive, Fifth Floor Post Office Box I Newport Beach, California 92658-8904 Attention: Mr. Brian McDonald (Space above for Recorder's Use Only) PURCHASE MONEY DEED OF TRUST AND ASSIGNMENT OF RENTS (341 Bayside Drive) This PURCHASE MONEY DEED OF TRUST AND ASSIGNMENT OF RENTS ("Deed of Trust") is made this day of 1993, between 341 RAYSIDE DRIVE, INC., a California corporation ("Trustor"), whose a ress is 333 Bayside Drive, Newport Beach, California 92660, CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, whose address is 825 North Broadway, Santa Ana, California 92701 ("Trustee4l), and THE IRVINE COMPANY, a Michigan corporation, whose address is 550 Newport Center Drive, Fifth Floor, Post Office Box 1, Newport Beach, California 92658-8904, Attn: Irvine Investment Company - Mr. Brian McDonald ("Beneficiary'). WITNESSETH: That Trustor irrevocably grants, assigns and transfers to Trustee in Trust, with Power of Sate: GRANTING CLAUSE FIRST The real property in the County of Orange, State of California, described as: As per Exhibit A attached hereto and made a part hereof by reference. Together with (a) all the rights, rights of way, easements, privileges, hereditaments and appurtenances now or hereafter in any way appertaining or belonging thereto, (b) any additional real property acquired by Trustor which is merged into or becomes a part of a Legal parcel containing all or any part of such real property (by reason of a Lot Line adjustment, re -subdivision of said real property and other property, or otherwise), (c) all buildings and improvements of every kind and nature now or hereafter placed or erected upon said real property, and (d) the rents, issues and profits thereof, subject to the right, power and authority hereinafter given to and conferred upon Beneficiary to collect and apply such rents, issues and profits. GRANTING CLAUSE SECOND ALL that certain personal property used in the operation of the real property described in GRANTING CLAUSE FIRST, whether now owned or hereafter acquired, including but not Limited to aLL furniture, fixtures and equipment, including maintenance equipment and other decorations, and atL renewals, replacements or substitutions thereof or additions thereto, and aLL materials and equipment acquired for use in or to be incorporated in the improvements constructed or to be constructed on said real property, and all renewals and replacements therefor, and ail warranties in which Trustor may now or hereafter have an interest relating to work, Labor, skill or materials furnished in connection with the construction of any improvements on said real property and all plans and specifications which have been or will be prepared by or for Trustor related to improvements on said real property or to the adjacent Lands of Beneficiary, whether constructed or not. ALL of said real and personal property granted, assigned arid transferred by Trustor to Trustee together with ail other property hereafter granted, assigned and transferred to Trustee under this Deed of Trust is herein called the "Property." For the purpose of securing (1) all of the obligations of Trustor under that certain Purchase Money Promissory Note of even date herewith, in the original principal amount of Three Hundred Seventy -Five Thousand Dollars ($375,000), executed by Trustor, as maker, in favor of Beneficiary, as payee, and any and all modifications, extensions, renewals and replacements thereof (the "Note"), together with interest thereon, according to the terms of the Note (which, by reference is hereby made a part hereof), and the performance of each and every obligation, covenant and agreement of Trustor contained in the Note; (2) the performance of each agreement of Trustor incorporated by reference or contained herein; (3) payment of any sums and interest thereon which may hereafter be Loaned to Trustor, or the then owner of the Property, when evidenced by a Promissory note or notes reciting that they are secured by this Deed of Trust; (4) payment of all sums, with interest thereon at the rate of interest provided herein, which may be expended by Beneficiary or Trustee in protecting the security of this Deed of Trust; and (5) performance of any obligation of Trustor to Beneficiary which may hereafter be evidenced by an agreement or other writing reciting that such obligation is secured by this Deed of Trust. Notwithstanding the foregoing, this Deed of Trust shall not secure the performance of any obligations of Trustor under that certain Declaration of Special Land Use Restrictions, Mortgage Lien and Option to Repurchase of even date herewith by and between Trustor, as Buyer, and Beneficiary, as Dectarant, relating to the Property, or any portion thereof (and any amendments or modifications thereto) (the "DeclaratiorYI). A. To protect the security of this Deed of Trust, Trustor agrees: (1) To keep the Property in good condition and repair; not to remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building which may be constructed, damaged or destroyed thereon and to pay when due atL claims for Labor performed and materials furnished therefor; to comply with all Laws affecting the Property or requiring any alterations or improvements to be made thereon; not to commit or permit waste thereof; not to commit, suffer or permit any act upon the Property in violation of Law; to maintain, cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character or use of the Property may be reasonably necessary, the specific enumerations herein not excluding the general. NB1-143262.V1 01/13/93 (2) (a) To maintain or cause to be maintained, with a reputable company or companies and otherwise in form and substance acceptable to Beneficiary, (i) comprehensive general liability insurance, or a per occurrence basis, with respect to the Property and the operations of or on behalf of Trustor on or about the Property, including but not Limited to owned and nonowned automobile (vehicle) liabitity, persona� injury (including coverage for Groups of Offenses A, 8 and C with exclusion (c) deleted), blanket contractual, broad form property damage and product/compLeted operations liabiLity coverage for not �ess than one million dollars ($1,000,000.00) combined single Limit bodily injury, death and property damage Liability peroccurrence, or the current limit of Liability carried, whichever is greater; 00 property insurance against toss or damage to any improvements mw or hereafter located on the Property by fire and any of the risks covered by insurance of the type known as "all risks of physical toss coverage', in an amount not Less than the full replacement cost of such improvements (exclusive of the cost of excavations, foundations and footings below the Lowest basement floor) and with a deductible from the Loss payab�e for any casualty in an amount which is acceptable to Beneficiary; and (iii) workers compensation insurance in an wxx-nt required by Law, together with employers Liability. (b) Trustor shall provide that the policy or policies of comprehensive generaL Liability insurance required above shalt be primary and shalt name Beneficiary as additional insured, as indicated below, and shalt apply severally to Beneficiary and Trustor, with the provisions that any other insurance carried by Beneficiary shall be noncontributing. Such policy or policies shall contain a provision that the naming of an additional insured wouLd not negate any right the additionat insured wouLd have had as claimant under the policy if not so named. For purposes of naming Beneficiary as additional, insured, the following provision shall be included within each applicable policy: "It is understood and agreed that coverage afforded by this Policy shall also apply to The Irvine Company, a Michigan corporation, and its officers, directors, agents, employees, divisions, subsidiaries, partners and affiliated companies as additional insureds, but only with respect to Legal liability or claims caused by, arising out of or resulting from the acts or commissions of the named insured or of others performing acts on behalf of the named insured or the ownership or development of the Property." (c) To provide, maintain and deliver to Beneficiary such additional insurance as may be required from time to time by Beneficiary. During the period of time that any construction is to take place on the Property, Trustor shalt maintain or cause to be maintained course -of -construction insurance. (d) ALL policies of insurance required by the terms of this Deed of Trust shall be with companies approved by Beneficiary, shall contain the starKiard noncontributory mortgagee clause and the standard Lenders, loss payable clause, or their equivalents, in favor of Beneficiary, and shalt provide that the proceeds thereof shalt be payable to Beneficiary to the extent of its interest therein. In addition, all policies of insurance required by the terms of this Deed of Trust shall contain an endorsement or agreement by the insurer that any Loss shall be payable in accordance with the terms of such policy notwithstanding any act or negligence of Trustor which might otherwise -esult in forfeiture of said insurance and the further agreement of the insurer waiving aLL rights of set-off, counterclaim or deductions against Trustor. In the event of the foreclosure of this Deed of Trust or other transfer of title to the Property in extinguishment, in whole or in part, of the indebtedness secured hereby, all right, title and interest of Trustor in and to any insurance policy then in force shalt pass to the purchaser or grantee. Beneficiary shalt be furnished with a certificate of each policy required to be provided by Trustor hereunder, which certificate shalt provide that the policy may not be modified or cancelled without thirty (30) days written notice to Beneficiary. Upon request, Trustor shalt furnish Beneficiary with receipts for the payment of premiums on such insurance policies or other evidence of such payment reasonabLy satisfactory to Beneficiary. in the event Trustor does not deposit with Beneficiary a new certificate of insurance with evidence of payment of premium thereon at least thirty (30) days prior to the expiration of any expiri,ng policy, then Beneficiary may, but shall not be obligated to, procure such insurance and Trustor shalt pay the premiums thereon promptly upon demand. Beneficiary shalt not by the fact of approving, disapproving, accepting, preventing, obtaining or failing to obtain any such insurance, incur any liability for the form or Legal sufficiency of insurance contracts, solvency of insurers or payment of losses and Trustor hereby expressly assumes full responsibility therefor and all Liability, if any, thereunder. The amount collected under any casualty insurance policy may, subject to the provisions of the Ground Lease (as hereinafter defir*d), be applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine, or at the option of Beneficiary the entire amount so collected or any part thereof may be released to Trustor. Such application or release shalt not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. (3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee. (4) To pay: prior to delinquency all taxes and assessments affecting the Property, including assessments on appurtenant water stock, if any; when due, all other encumbrances, charges and Liens, with interest, on the Property or any part thereof, which appear to be prior or superior hereto; and all allowable expenses of this Trust. (5) To pay when due all utility charges which are incurred by Trustor for the benefit of the Property or which may become a charge or Lien against the Property for gas, electricity, water and sewer services furnished to the Property and all other assessments or charges of a similar nature, whether public or private, affecting the Property or any portion thereof, whether or not such taxes, assessments or charges are Liens thereon. (6) Trustor shall not transfer the Property or any portion thereof or interest therein without the prior written consent of Beneficiary, which consent shalt not be unreasonably withheld. Without Limiting the generality of the foregoing, Trustor acknowledges and agrees that it shalt not be unreasonable for Beneficiary to withhold its consent to any transfer of the Property or an interest therein or a portion thereof to a person or entity whose net worth is Less than One Million Dollars ($1,000,000) as of the date of such proposed transfer. Beneficiary may grant or deny such consent. li, 1�b suLe _�, ;: consent should be given, any such transfer shall be subject to this Deed of Trust, and any transferee shalt assume sit of Trustorls obligations hereunder and agree to be bound by all provisions and perform all obligations contained herein. In the event of any such transfer without the written consent of Beneficiary, Beneficiary may, at its option, without demand or notice, declare all sums secured hereby immediately due and payable. Consent to one such transfer shalt not be deemed to be a waiver of the right to require consent to future or successive transfers. As used herein, the term "transfer" shall mean: (a) the sale, agreement to sell, grant of any option to purchase, conveyance or other transfer of the Property, or any portion thereof or interest therein, whether voluntarily, involuntarily, by operation of Law or otherwise, or the Lease of the Property, or any portion thereof, but shall not include (i) the conveyance of easements reasonably necessary for the development of the Property; (ii) the Leasing of space in any improvements now or hereafter Located on the Property in the ordinary course of Trustor's business, or (iii) the assignment of the Lessee's interest under that certain ground Lease dated April 30, 1968, as amended from time to time prior to the date hereof, between Beneficiary, as Lessor, and Balboa Investment Group, a California general NB1-143262.V1 01/13/93 partnership as lessee (the "Ground Lewel) to a third party provided that such assignment does not require the prior consent or approval of the Lessor thereunder; (b) any transfer by way of security, incLuding the placing or permitting the placing on the Property of any mortgage, deed of trust, assignment of rents or other security device, but shalt not include any encumbrance now or hereafter existing solely against the Lessee's Leasehoid estate under the Ground Lease; or (c) the transfer of a "controLting interest" in Trustor or a transfer of a "controlling interest" in any general partner of Trustor which is a joint venture or general or Limited partnership, whether voluntarily, involuntarily, by operation of taw or otherwise. For purposes hereof, the term "controlling interest" shalt mean any transfer or other disposition of any interest in such entity whereby the effective control of the management of such entity is altered, limited or otherwise modified in any manner. (7) Should Trustor fail to make any payment or to do any act as provided in this Deed of Trust, then Beneficiary or Trustee, but without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may: make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon the Property for such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or Lien which in the judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay allowable expenses. Trustor agrees to pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest from date of expenditure at the maximum amount then allowed by Law. (8) Not to engage in any Hazardous Substance Activity (as hereinafter defined) or allow any other person or entity to do so in violation of any Environmental Law (as hereinafter defined). (9) To keep and maintain, and to cause all other persons or entities to keep and maintain, the Property in compliance with, and not to cause or permit the Property to be in violation of, any Environmental Law. (10) To immediately advise Beneficiary in writing of (a) any and all Hazardous Substance Claims (as hereinafter defined) against Trustor or the Property; (b) any remedial action taken by Trustor in response to any (i) Hazardous Substance in, on, under or about the Property or (ii) Hazardous Substance Claims; and (c) Trustor's discovery of any occurrence or condition on any real property adjoining or in the vicinity of the Property that could cause the Property or any part thereof to be classified as "border -zone property" under the provisions of California Health and Safety Code Sections 25220 et seq., or any regulation adopted in accordance therewith, or to be otherwise subject to any restr-T-c-tions on the ownership, occupancy, transferability or use of the Property under any Environmental Law. Trustor will provide Beneficiary with copies of all communications with federal, state and Local governments or agencies relating to Hazardous Substance Claims. (11) In the event any investigation, site monitoring, containment, cleanup, removal, restoration or other remedial work of any kind or nature (the "Remedial Work") is required under any Environmental Law, any judicial order or by any governmental entity because of, or in connection with, the current or future presence, suspected presence, threatened or existing release or suspected release of a Hazardous Substance in or into the air, soil, groundwater, surface water or soit vapor at, on, under or about the Property or any portion thereof, Trustor shall, within such period of time as may be required under applicable Law, regulation or order, commence to perform, or cause to be commenced, and thereafter diligently prosecuted to completion, all such Remedial Work; provided, however, that Trustor shall not perform, or commence to perform, any Remedial Work without Beneficiary's prior written consent, which consent may be granted or withheld in Beneficiary's reasonable discretion; provided further, however, that Beneficiary's prior consent shall not be r*cessary in the event that the presence of Hazardous Substances in, on, under or about the Property either poses an immediate threat to the health, safety or welfare of any individual or is of such a nature that immediate Remedial Work is necessary and it is not possible to obtain Beneficiary's consent before performing or commencing such Remedial Work, provided that in such event Trustor shall notify Beneficiary as soon as practicable of any Remedial Work so performed or commenced. Beneficiary agrees not to withhold its consent, where such consent is required hereunder, if particular Remedial Work is ordered by a court of competent jurisdiction or is imposed upon Trustor (without Trustor's consent or approval) by a governmental authority with'reguLatory jurisdiction over the Property. All costs and expenses of such Remedial Work shalt be paid by Trustor within ten (10) days of Beneficiary's demand therefor, which costs and expenses shalt include, but shall not be Limited to, the charges of all contractor(s) and/or consulting engineers, and Beneficiary's attorneys' fees and costs incurred in cornection with monitoring or review of such Remedial Work. In the event Trustor shall fait to timely commence, or cause to be commenced, or fait to diligently prosecute to completion, such Remedial work, Beneficiary may, but shalt not be required to, cause such Remedial Work to be performed and all costs and expenses thereof, or incurred in comection therewith, shalt become part of the indebtedness secured hereby. (12) Beneficiary is authorized, by itself, its agents, employees or workmen to enter at any reasonable time upon any part of the Property for the purpose of inspecting the same for Hazardous Substances and Trustor's compliance with Paragraphs A(8) through (11), inclusive, above, and such inspections may include soil borings and groundwater testing (provided that any damage caused by soil borings shall be repaired by Beneficiary). Trustor agrees to pay to Beneficiary, within ten (10) days of Beneficiary's demand therefor, all expenses, costs or other amounts incurred by Beneficiary in performing any inspection for the purposes set forth in this Paragraph A(12). (13) Without the prior written consent of Beneficiary, which consent may be granted or withheld in Beneficiary's sole discretion, Trustor shalt not create or permit to continue in existence any Lien (whether or not such Lien has priority over the Lien created by this Deed of Trust) upon the Property imposed pursuant to any Environmental Law. (14) Beneficiary shalt have the right to join and participate in, as a party if it so elects, any Legal proceedings or actions initiated in connection with any Hazardous :,Uustance CLair[r.. Trustor agrees to pay to Beneficiary, within ten (10) days of Beneficiary's demand therefor, all expenses, costs and other amounts incurred by Beneficiary in connection with exercising its rights under this Paragraph A(14). (15) Trustor agrees to protect, indemnify, defend, save and hold harmless Beneficiary, its directors, officers, agents and employees from and against any foreseeable or unforeseeable claim, action, suit, proceeding, toss, cost, damage (including, without Limitation, any consequential damage), Liability, deficiency, fine, penalty, punitive damage or expense (including, without Limitation, attorneys' fees), directly or indirectly, resulting from, arising out of, or based upon (a) the presence, release, use, generation, discharge, storage or disposal of any Hazardous Substance in, on, under or about, or the transportation of any Hazardous Substance to or from, the Property by Trustor, its partners, directors, officers, agents, employees, contractors, tenants, invitees, successors or assigns or any residual contamination affecting any natural resource or the environment or (b) the violation, or alleged violation, KB1-143262.V1 01/13/93 of any statute, ordinance, order, rule, regulation, permit, judgment or License relating to the use, generation, release, discharge, storage, disposal or transportation of any Hazardous Substance in, on, under or about, to or from the Property by Trustor, its partners, directors, officers, agents, employees, contractors, tenants, invitees, successors or assigns. This indemnity shalt include, without Limitation, any damage, liability, fine, penalty, punitive damage, cost or expense arising from or out of any claim, action, suit or proceeding for personal injury (including sickness, disease or death), tangible or intangible property damage, compensation for lost wages, business income, profits or other economic toss, damage to the natural resources or the environment, nuisance, pollution, contamination, Leak, spitt, release or other adverse affect upon the environment. The indemnity obligation on the part of Trustor under this Paragraph A(15) shall survive the repayment of the indebtedness secured hereby. meanings: (16) As used in this Deed of Trust, the following terms shall have the following "Environmental Laws" means any and all present and future federal, state or Local Laws (whether under common law, statute, rule, regulation or otherwise), permits ard any other requirements of governmental authorities relating to the environment or to any Hazardous Substance or Hazardous Substance Activity (including, without Limitation, the Comprehensive Environmental Response, Compensation and �iability Act of 1980 (42 U.S.C. §§9601 et seq.), as heretofore or hereafter amended from time to time, and the applicable provisions of the California Health and Safety Code and the California Water Code). "Hazardous Substance" means (a) any chemical, compound, material, mixture or substance that is now or hereafter defined or Listed in, or otherwise classified pursuant to, any Environmental Law as a "hazardous substance," "hazardous material," "hazardous waste," "extremely hazardous waste," "infectious waste," "toxic substance," "toxic pollutant" or any other formulation intended to define, List, or classify substances by reason of deleterious properties such as ignitabitity, corrosivity, reactivity, carcinogenicity, toxicity, reproductive toxicity, or IIEP toxicity" and (b) petroleum, natural gas, natural gas liquids, Liquified natural gas, synthetic gas usable for fuel (or mixtures of natural gas and such synthetic gas), ash produced by a resource recovery facility utilizing a municipal solid waste stream, and drilling fluids, produced waters, and other wastes associated with the exploration, development or production of crude oil, natural gas, or geothermal resources. "Hazardous Substance Activity" means any actual, proposed or threatened storage, holding, existence, release, emission, discharge, generation, processing, abatement, removal, disposition, handling or transportation of any Hazardous Substance from, under, into or on the Property or surrounding property. "Hazardous Substance Claims" shalt mean any and ail enforcement, cLean-up, removal or other governmental or regulatory actions or orders threatened, instituted or completed pursuant to any Environmental Law, together with aLL claims made or threatened by any third party against Trustor, Beneficiary or the Property relating to damage, contribution, cost recovery compensation, Loss o- injury resulting from any Hazardous Substance. It is mutually agreed: (1) That any award of damages in connection with any condemnation for public use of or injury to the Property or any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received by it in the same manner and with the same effect as above provided for disposition of proceeds of casualty insurance. (2) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive its right either to require prompt payment when due of aLL other sums so secured or to declare default for failure so to pay. (3) That at any time or from time to time, without liability therefor and without notice, upon written request of Beneficiary and presentation of this Deed of Trust for endorsement, and without affecting the personal Liability of any person for payment of the indebtedness secured hereby, Trustee shall: reconvey any part of the Property; consent to the making of any map or plat thereof; join in granting any easement thereon; or join in any extension agreement or any agreement subordinating the Lien or charge hereof. (4) That upon written request of Beneficiary stating that ail sums secured hereby have been paid, and upon surrender of this Deed of Trust to Trustee for cancellation and retention or other disposition as Trustee in its sole discretion may choose and upon payment of its fees, Trustee shalt reconvey, without warranty, the Property then held hereunder. The recitals in such reconveyance of any matters or facts shalt be conclusive proof of the truthfulness thereof. The Grantee in such reconveyance may be described as "the person or persons Legally entitled thereto." (5) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and authority, during the continuance of these Trusts, to collect the rents, issues and profits of the Property, reserving unto Trustor the right, prior to any default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any such default, Beneficiary may at any time without notice, either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of the Property or any part thereof, in its own name sue for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same, Less allowable expenses of operation, upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. (6) That if by virtue of being the beneficiary under this Deed of Trust, Beneficiary is made a party defendant to any Litigation concerning this Deed of Trust or the Property or any part thereof or interest therein, or the occupancy thereof by Trustor, then Trustor shall indemnify, defend and hold Beneficiary harmless from all liability by reason of said litigation, including reasonable attorneys' fees and expenses incurred by Beneficiary in any such Litigation, whether or not such Litigation is prosecuted to judgment. If Beneficiary commences an action against Trustor to enforce any of the terms hereof or because of the breach by Trustor of any of the terms hereof, or for the recovery of any sum secured hereby, or participates in any bankruptcy or other similar action regarding Trustor, Trustor shall pay to Beneficiary reasonable attorneys' fees and expenses, and the right to such attorneys' fees and expenses shall be deemed to have accrued on the commencement of such action and shall be enforceable whether or not such action is prosecuted to judgment. If Trustor breaches any term of this Deed of Trust, Benefici,ary make take whatever action it deems appropriate, including without Limitation employing an attorney or attorneys, to protect the security of its rights hereunder and in the event of such action following any breach by Trustor, NBI-143262.Vl 4 01/13/93 Trustor shalt pay Beneficiary reasonable expenses incurred by Beneficiary in so doing, whether or not an action is actually commenced against Trustor by reason of breach. (7) That any of the following events, in addition to those set forth elsewhere herein, shalt be deemed a default entitling Beneficiary to the remedies set forth herein, in the Note, and otherwise at Law or in equity: (a) Trustor shalt file a voluntary petition in bankruptcy or shalt be adjudicated a bankrupt or insolvent and such adjudication shalt remain unvacated, unstayed or unappeated for an aggregate of sixty (60) days (whether or not consecutive), or shalt file any petition or answer seeking or acquiescing in any reorganization, arrangement, composition, readjustment, Liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, Law or regulation relating to bankruptcy, insolvency or other relief for debtors; or shalt seek or consent to or acqui . esce in the appointment of any trustee, receiver or liquidator of Trustor or of atL or any part of the Property, or of any or all of the royalties, revenues, rents, issues or profits thereof, or shalt make any general assignment for the benefit of creditors, or shalt admit in writing in inability to pay its it debts' generally as they become due; or (b) A court of competent jurisdiction shalt enter an order, judgment or decree approving a petition filed against Trustor seeking any reorganization, dissolution or similar relief under any present or future federal, state or other statute, Law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such order, judgment or decree shalt remain unvacated, unstayed or unappeaLed for an aggregate of sixty (60) days (whether or not consecutive) from the first day of entry thereof; or any trustee, receiver or liquidator of Trustor or of all or any part of the Property, or of any or aLL of the royalties, revenues, rents, issues or profits thereof, shalt be appointed without the consent or acquiescence of Trustor and such appointment shalt remain unvacated, unstayed or unappeated for an aggregate of sixty (60) days (whether or not consecutive); or (c) A writ of execution or attachment or any similar process shalt be issued or Levied against aLt or any part of or interest in the Property, or any judgment involving monetary damages shalt be entered against Trustor which shalt become a Lien on the Property or any portion thereof or interest therein and such Lien is senior to the Lien of this Deed of Trust and such execution, attachment or similar process or judgment is not released, bonded, satisfied, vacated or stayed within sixty (60) days after its entry or levy; or (d) There has occurred a breach of or default under any term, covenant, agreement, condition, provision, representation or warranty contained in any of the documents or instruments secured hereby. (8) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, Beneficiary may declare all sums secured hereby, and the same shaLL thereupon become, immediately due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary at its option may: (a) Commence an action to foreclose this Deed of Trust or specifically enforce any of the covenants hereof; (b) Deliver to Trustee a written declaration of default and demand for sale and of written notice of default and of election to cause the Property to be sold, which notice Trustee shalt cause to be filed for record. Beneficiary also shalt deposit with Trustee this Deed of Trust and all documents evidencing expenditures secured hereby. After the Lapse of such time as may then be required by Law following the recordation of said notice of default, and notice of sate having been given as then required by Law, Trustee, without demand on Trustor, shalt sell the Property at the time and place fixed by it in said notice of sate, either as a whole or in separate parcels, and in such order as it may determine, at public auction to the highest bidder for cash in Lawful money of the United States, payable at time of sate. Trustee may postpone sate of all or any portion of the Property by public announcement at such time and place of sate, and from time to time thereafter may postpone such sate by public announcement at the time fixed by the preceding postponement. Trustee shalt deliver to such purchaser its deed conveying the Property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shalt be conclusive proof, of the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary as hereinafter defined, may purchase at such sate. After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title in connection with sate, Trustee shalt apply the proceeds of sate to payment of: the costs and expenses of the sate, including but not Limited to Trustee's fees and expenses, Legal fees and disbursements, title charges and transfer taxes; all sums expended under the terms hereof, not then repaid, with accrued interest at the maximum amount then allowed by Law; aLL other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto; arid/or (c) Exercise all other rights and remedies provided herein or in the Note or any other agreement securing all or any portion of the obligations secured hereby, or provided by law. (9) That Beneficiary may from time to time, by instrument in writing, substitute a successor or successors to any Trustee named herein or acting hereunder, which instrument, executed by the Beneficiary and duty acknowledged and recorded in the office of the recorder of the county or counties where the Property is situated, shalt be conclusive proof of proper substitution of such successor Trustee or Trustees, who shalt, without conveyance from the Trustee predecessor, succeed to all its title, estate, rights, powers and duties. Said instrument must contain the name,of the original Trustor, Trustee and aw.— t. -v y hereWider, the book and page where this Deed of Trust is recorded and the name and address of the new Trustee. (10) That this Deed of Trust applies to and inures the benefit of, and binds at( parties hereto, their heirs, Legatees, devisees, administrators, executors, successors and assigns. In this Deed of Trust, whenever the context so requires, the masculine gender includes the feminine and/or neuter, and the singular number includes the plural. (11) That Trustee accepts this Trust when this Deed of Trust, duty executed and acknowledged, is made a public record as provided by Law. Trustee is not obligated to notify any party hereto of pending sate under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shalt be a party unless brought by Trustee. NB1-143262.V1 01/13/93 The undersigned Trustor requests that a copy of any notice of default and of any notice of sale hereunder be mailed to it at its address hereinbefore set forth. (12) That the rights and remedies of Beneficiary hereunder are cumulative with and in addition to, and are not in Limitation of, all rights and remedies of Beneficiary otherwise available at Law or in equity. (13) That Trustor waives, to the fullest extent permitted by Law, the right to plead any and all statutes of Limitation as a defense to any deimnd on the Note, this Deed of Trust or any other security instrument now or hereafter securing the Note. (14) That every provision of this Deed of Trust is intended to be severable. In the event that any term or provision hereof is declared by a court of competent jurisdiction to be illegal or invatid for any reason whatsoever, such illegality or invalidity shall not affect the balance of the terms and provisions hereof, which terms and provisions shall remain binding and enforceable, and any provision so adjudged to be void, invalid, illegal or unenforceable for any reason shall be replaced, if possible, with a valid provision that is enforceable and most nearly carries out the original intent of the parties hereto. (15) That this Deed of Trust and the Note shalt be governed and construed in accordance with the Laws of the State of California. In the event of any dispute hereunder or under the Note it is agreed that the sole and exclusive venue shall be in a court of competent jurisdiction in Orange County, California, and Trustor agrees to submit to the jurisdiction of such court. (16) That the Lien of this Deed of Trust shall at all times be subordinate and subject to the Declaration. (17) That, unless Beneficiary so elects as evidenced by the recording of a declaration so stating, no merger of the fee estate in the Property and the LeasehoLd estate of Lessee under the Ground Lease shall occur by virtue of the conveyance of the fee estate in the Property to Trustor or the lien created hereby, or as a result of any subsequent act or expression of Trustor and/or the Lessee under the Ground Lease. Unlessand until Beneficiary so elects, Beneficiary shalt continue to have and enjoy all of the rights and privileges of Beneficiary as to the separate estates. in addition, upon the foreclosure of the Lien created by this Deed of Trust on the Property pursuant to the terms hereof, the Ground Lease shalt not be destroyed or terminated by the application of the Law of merger or as a matter of taw or as a result of such foreclosure unless Beneficiary or any purchaser at the foreclosure sale shalt so elect. Trustor shalt keep in force the Ground Lease and shall not modify, amend, terminate, surrender or otherwise alter the Ground Lease in any manner, and any such purported modification, amendment, termination, surrender or other alteration of the Ground Lease shall not be binding upon Beneficiary or effective in the event of any foreclosure of the lien created by this Deed of Trust or a deed in Lieu of foreclosure. (18) That Trustor shall cooperate fully with Beneficiary in providing not more frequently than once per anmxn, in a prompt and thorough manner upon Beneficiary's request, such financial statements of Trustor, records of income and expenses concerning the Property, tenant teases and other information concerning the Property as Beneficiary may reasonably request. 341 BAYSIDE DRIVE, INC., a California corporation By: By: I ts: I ts: NB1-143262.V1 01/13/93 STATE OF CALIFORNIA COUNTY OF ORANGE on personalLy appeared personaLLy known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose nams are subscribed to the within instrLmnt and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behaLf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF ORANGE On personalty appeared personalty known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowLedged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State STATE OF CALIFORNIA COUNTY OF ORANGE On personalty appeared personalty known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and officiaL seat. Notary Public in and for said County and State . STATE OF CALIFORNIA COUNTY OF ORANGE On personally appeared personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which persons acted, executed the instrument. WITNESS my hand and official seat. Notary Public in and for said County and State NBI-143262.Vl 01/13/93 EYHIBIT A DESCRIPTION OF LAND 341 Bayside Parcel 1 : Lot A, in the City of Newport Beach, County of Orange, State of California, as per map recorded in Book 16, Page 10, Parcel Maps, in the office of the County Recorder of said County. Parcel 2: A ron-excLusive easement for the encroachment of the second story of the building Located on the above described parcel I onto the adjacent property and any replacements or repairs thereof; provided that any such replacements or repairs shall only be constructed within the air . space that the second story of the building currently occupies as of the date hereof and provided further that in no event shaLL the easement granted hereby be deemed or construed to extend beyond the area currently occupied by the second story of such building. NB1-143262.V1 A-1 01/13/93 EXHIBIT G FORM OF LEASE NB1-143265.V1 G-1 01/18/93 LEASE AGREE14ENT (341 Rayside Drive) THIS LEASE AGREEMENT ("LeaseH) is made this _ day of _, 1993 between THE IRVINE COWANY, a Michigan corporation ("TIC"), and 341 UYSIDE DRIVE, INC., a California corporation ("Buyer"). RECITALS A . TIC and Buyer are the parties to that certain Purchase Agreement and Escrow Instructions dated as of -, 1993 (the "Purchase Agreement") pursuant to the terms of which TIC agreed to sell, and Buyer agreed to purchase, that certain real property more particuLarty described therein (the "Land"). At[ initiaL�y- capitalized terms not otherwise defined herein shalt have the meanings given such terms in the Purchase Agreement. B. Pursuant to the Purchase Agreement and the Grant Deed TIC expressly reserved any and all rights with respect to the waterway adjacent to the Land and the marina Located thereon owned by TIC (coLLectivety, the "Waterway") and Buyer fully reLinquished and released unto TIC any and aLL Littoral rights that it or its successors and assigns may now or hereafter claim with respect to the Waterway, including, without Limitation, any such right, title or interest claimed, asserted or resulting from the fact that the Land abuts the Waterway. C. Notwithstanding Buyer's express and complete waiver of any and all rights, title or interest that Buyer or its successors or assigns may now or hereafter have in or to the Waterway as contained in the Purchase Agreement, Grant Deed and Special Restrictions, Buyer and TIC desire to enter into this Lease, which Lease shalt govern in the unlikeLy event that a court or other governmental authority at some future date (the "Adverse Determination Date") decides that the Littoral rights with respect to the waterway have been transferred to or are appurtenant to the Land despite the express agreement of Buyer and Set ter to the contrary. NOW, THEREFORE, the parties hereto hereby agree as follows: 1. LEASE OF URTEMMY. Buyer hereby Leases to TIC and TIC leases from Buyer for the term, at the rental, and upon all of the terms and conditions set forth herein, the Waterway. 2. TERN. This Lease shalt be for a term commencing on _ , 1993 and shall be in effect for a period of ninety-nine (99) years. TIC shalt have the option of extending the term of this Lease for additional five (5) year periods upon ten (10) days written notice to Buyer. 3. RENTAL. Commencing on the Adverse Determination Date, TIC shalt pay to Buyer as rental for the Waterway the amount of Ten Dollars ($10) per annum, which amount shalt be payable in advance on the first day of each year of the term of this Lease. 4. USE OF UATERUAY. TIC and its successors and assigns shall be entitled to occupy, use and operate the Waterway in the manner that TIC or such successors or assigns elects in their sole discretion; provided that such use and operation by TIC shalt not have a material adverse effect upon Buyer's use and operation of the Land. TIC and Buyer hereby agree that the present use and operation of the Waterway, and any use and operation of the Waterway in a manner substantially similar to the present use and operation of the Waterway, does not and will not have a material adverse effect upon Buyer's use and operation of the Land. Buyer hereby acknowledges and agrees that it shall not challenge, object to or interfere with TIC's occupancy, use or operation of the Waterway in accordance with this Section 4. 5. REAL ESTATE TAXES. TIC shall pay all real property taxes, if any, imposed upon the Waterway. In the event the Land and the Waterway are not at any time separately assessed, the real property taxes shalt be allocated between the Land and the Waterway based upon the method used by the tax assessor in calculating such taxes. Nothing contained herein shall be deemed or construed to require TIC to pay any taxes, or any other amounts, attributable to, or relating to, the Land. 6. ASSIGNMENT. TIC shall be entitled to transfer, sublease, assign or hypothecate this Lease and its interest in the Waterway without the consent of Buyer. TIC may, if it so elects, be released from any and aLL Liability under this Lease in connection with any such transfer, sublease, assignment or hypothecation. 7. SUCCESSORS AND ASSIGNS. This ttase shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. S. QUIET ENJOYMENT. Buyer covenants and agrees that TIC, upon paying the rent required hereunder, shall quietly have and enjoy the Waterway during the term of this Lease without hindrance or molestation by anyone claiming by or through Buyer. 9. CHOICE OF LAW. This Lease shall be governed by, and construed and enforced in accordance with, the Laws of the itate of Cati?ornia. NB1-143261.V1 01/13/93 IN WITNESS WHEREOF, TIC and Buyer have executed this Lease as of the date first above written. "TIC" THE IRVINE COMPANY, a Michigan corporation By: Its: By: Its: "Buyer" 341 BAYSIDE DRIVE, INC., a CaLifornia corporation B Its: By:_ I ts: NBl-143261.Vl 01/13/93 MAR 24 '92 03:03PM CB COMMERCIAL NPTBCH PARCEL SIZE % TOTAL 1,261 Acre 54�929 SF 27% 2 .0133 Acre 578 Sip 3 .800 Acre 34,866 SF 17% 53 1.6S Acre 71,874 SF 35% .5529 Acre 24tO86 SF 12% -.4 .4088 Acre 17�808 SF 8.8% TOTALS 4.6860 Acre 204J22 SF 100% Total # Boat Slips Total # Parking Spaces bwp4rw -12r%g. RR*4 7 4-; j6 PAR WEST SERVI.MS NEWWRT COMPLEX PARKING SUMMARY Seatin5l Parkincr DiniM Bar Total Required Actual Zzadore"s 174 8 182 61 70* -Reubens 132 60 192 64 326** Reuben 324 122: 446 149. Total 274 396 .70 int use of 35 spaces weekdays before 5:00 p.rx. Joint use of 88 spaces with Balboa Marina Deducting 88 spaces for the marina nets a total of 308 spaces for restaurant use, which is 34 in excess of Code requirements. Additionally, Far West Services has obtained 50 spaces for an. indefinite time at Vie Bayside Village Trailer Park for use of its employees. This increases the excess spaces to 84. �a 51 A, 3. BALBOA MARINA TECHINICAI., INFORMATION 01(72'0i� P.�ILTLNG IT'liE REQG11RE.mENTS'� T��'e Contractor f-ki-cniish a. -LT tools, materials, equip- r,�,ert and su-nervJis-i-on necessary to install anchor piles as sliown on the drawings and as sDecified herein. F A rn TP 0 T A T 0 All anchor -iles shqll be 1,4" diameter -orestressed concrete piles to the length, location and design as shown on the drqwings. C. ALIGNMENT AND TOLERANCES All anchor riling shall he r)],,aced within a horizontal toler- ,qncp of nl,us or minus �" ind a 'vertical tolerance of T)Ius or mi n u i� 3 " . The T)j 'I i nP �7,h-O ) he n I timb to within �/4 inch in iO foot vertic�il mo--, �.:;ur��ment. I'ilinp connections shall be nositioned in Such a ma-riner that the system shall not move horizontally more than 1" before encountering anchor piling. Cut off elevation = +11 M.L.L.W.. D. HANDLING AND DRIVING 1. All piles shall be driven by such methods and equipment as will not impair their strength or damage the piles. 2. Requirements for handl-Ing, during driving operations shall be the sa-me ;�s those -J"or handling after fabrica- tionp but in addit.�Ion, s-,,�ecial. precautions sha.11, be taken in handling to nrc�vent leading away from plumb or true position when driving. 3. Should any obstruction be encountered which prevent the pile from reaching, adequate penetration or cause the rile to drift fxom the reoiired loc�ition., driving shall cease, and the Contr:-ictor snall.notify the Engineer for instructions as to the best means of correcting the situation. 4. Under no circumstances are -niles to be jacked or other- wise forced into pro -per alignment after driving has been completed. P A G 12 1 (D. Handling and Driving) 5. Piles that are overdrivin, mislocated or driven out of alignment shall be withdrqwn and redriven at no cost to Owner. Piles that are damaged during handling or driv- �ing shall be replaced with a pile of equal size and design at no expense to the Owner. CONCRETE WORK A. CONCRETE Lightweight concrete used for the manufacturing of Tee Dock panels and pontoons sh�911. have a dry unit weight of 105 pounds per cubic foot, The minimum compressive strength shall. be 3,000 p.s.i. at 28 days. Lightweight aggreg ,ate used in the mix shall be maximum 3/8" agpregate as manufactured by Rigelite or eq.ual. B. MANUFACTURIN Forms The pontoons shall be c-)st in steel forms with a smooth, true surface. Forms shall have a total tolerance of plus or minus 1/8" in all directions. Forms shall be cleaned and oiled with an acceptable form oil before each rontoon is cast. 2, Concrete Placement Concrete shall be placed in forms in such a manner as to prevent any segregation of the concrete mix. The concrete shall be 'vibrated both internally and externally in order to insure a dense and smooth finish. 3. Finish Deck surfaces shall be trowel finished with a steel trowel and a light broom finish applied. The surface shall be s- ' prayed with an acceptable curing compound immediately after finishing, The remainder of the float should be s-orayed after stripping. C. REINFORCING MATERIALS Extreme care shall be taken to insure proper placement of reinforcing material during casting. PAG E 2 FOAM CORE �The float core shall be expanded polystyrene foam. The core shall be placed and held in true position during the casting oneration. The tolerance of -the foam core shall be.a total of -ol.us or minus 1/8" variation in any direction. Proper vibration of the concrete shall be maintained to in- sure a bond between foam and concrete surfaces# EATERIALS FOR FLOATATION SYSTEM A. LUMBER All lumber used in the construction of the floating dock system shall be construction #1 grade douglas fir or better, provided. there are no loose knots or other defects. 'All lumber to be S4S and selected for appearance. B. LUMBER TRj7,ATMENT All lumber for the construction of the floating docks shall be pressure treated per AWPA Specification C2-74 (CCA) to prevent dry rot. No incising on ex-oosed lumber. All,field cuts and bored holes to receive a brush coat of concentrated preservative. C. PLYWOOD Plywood when used as a,deck surface on knees, finger ends, etc. shall,be Grade A -B exterior with a medium density overlay, Durinly,' Harborite or equal. D., BUMPER STRIPPING Bumppr�:stri ing shall. be.white or off- white, extruded Pp vinyl plastic,.ethylene troDlene, neoprene or other synthetic rubber, com-oounded to2 resist salt water, ozone -and sunlight, E. BUMPER NATLS Bumper, stri-oping shall be secured to the fender lumber with 11" hot dip galvanized, domestic roo-ring , nails at 4" O.C9 staggered top and bottom'. Nails to be as manu- .factured by Keystone or appr�v �equal. o ed, ,F.' HARDWARE hardware, �includi. na bolts, cleats, knee frames, iclip angles, etc. shall be hot dipped galvanized after fabrication. PAGE RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: THE IRVINE COMPANY c/o Irvine Retail Properties Company 2 Park Plaza Third Floor Irvine, California 92714-5904 Attn: David Fields, Esq. (Space above this line for Recorder's use only) SECOND AMENDMENT TO RECIPR6CAL GRANT OF EASEMENTS PARTIES AND DATE This Second Amendment to Reciprocal Grant of Eliements (the "Second Amendment") is made this,j,-,!!:e day of �h -01 1991, by and between THE IRVINE COMPANY, a Michigan corporation ("Irvine") and GRC RESTAURANTS, INC., a California corporation, successor in interest to Grace Restaurant Company, a California corporation, formerly known as Far West Services, Inc. ("GRC"). Irvine and GRC are sometimes individually referred to herein as "Owner" and collectively referred to herein as "Owners." II. RECITALS A. Pursuant to the following described ground leases (collectively the "Ground Leases"), Irvine is leasing to GRC an interest in real property located near the intersection of Pacific Coast Highway and Bayside Drive in the City of Newport Beach, State of California, which real property interests (collectively the "Leased Premises") are more particularly described on Exhibit "A" attached hereto and incorporated herein by this reference: 1. Ground Lease dated June 30, 1960 by and between Irvine, as lessor, and GRC, as lessee and successor -in - interest to Richard I. Stewart and Charles Ullman, as amended by that certain Amendment No. 1 to Lease dated February 23, 1978, that certain Amendment No. 2 to Lease dated December 15, 1984 and that certain Third Amendment to Ground Lease dated August 20, 1987. 2. Ground Lease dated October 1, 1963 by a rid between, Irvine, as lessor, and GRC, as lessee and successor. -in - interest to John R. McIntosh, James L. Gray and william C. McIntyre, as amended by that certain Amendment No. 1 to ' Ground Lease dated April 15, 1964, that certain Amendment. No. 2 to Ground Lease dated September 10, 1964, that certain Amendment No. 3 to Ground Lease dated November 15, 1984 and that certain Fourth Amendment to Ground Lease dated August 20, 1987. B. Adjacent to the Leased Premises, Irvine owns that certain real property described on Exhibit "B" attached hereto and incorporated herein by this reference (the "Marina Parcel") and that certain real property described on Exhibit "C" attached hereto and incorporated herein by this reference (the "Corner Parcel"). The Marina Parcel, the Corner Parcel, and the Leased Premises are sometimes collectively referred to herein as the "Property..N C. The owners established certain reciprocal easements for access, ingress and egress to and from, and parking on, each of their respective parcels, all for the purpose of convenience in operating their respective business operations at the Property by the execution of that certain Reciprocal Grant of Easements Agreement dated January 26, 1987, and recorded on March 13, 1987 as Instrument No. 87-138040 in the official Records of the County Recorder's office for the County of Orange (the "REA"). D. The Owners amended the REA by the execution of that certain First Amendment to Reciprocal Grant of Easements dated August 20, 1981 ("First Amendment"). E. The owners now desire to amend the REA and First Amendment to allow for GRC to conduct valet parking. NOW, THEREFORE, the owners hereby agree as follows: III. AMENDMENTS TO REA AND FIRST AMENDMENT 1. Permission to Usem Valet Parking. The Owners hereby agree that GRC shall be permitted to conduct a valet parking service pursuant to the following terms and conditions. 2. Term. The term of this Second Amendment is for one year from the date this Second Amendment is signed by the Owners ("Term"). The Term will be automatically extended at the end of each and every year for an additional one year period unless either party elects to terminate this Second Amendment upon at least 30 days written notice before the expiration of the Term but in no event more than 60 days before the expiration of the Term. In addition to the foregoing and 8870r/3400/640 -2- except as provided in paragraph 4F of this Second Amendment, in the event GRC or its agents violate any term or provision of this Second Amendment, then Irvine shall have the right to terminate this Second Amendment for cause if GRC shall fail to cure such violation within 3 days from the date of notice from Irvine to GRC of such violation; provided, however, that if such violation by its nature cannot be cured within 3 days Irvine shall not have the right to terminate this Second Amendment for cause so long as GRC shall commence curing such violation within 3 days from the date of the notice from Irvine of such violation, and shall diligently prosecute such cure to completion within a reasonable time not to exceed 30 days after the date of such notice. 3. valet Parking Service Used. GRC shall have the right to select a valet parking service company ("Service") of its choice. Irvine shall have the right to request from GRC any and all reasonable information concerning the proposed Service. 4. Restrictions on the Service. Any Service used by GRC must comply with the following: A. Identification. Valets must wear identification at all times while on the Property. B. Are . Valets shall be allowed the non-exclusive use of the areas depicted on Exhibit."DN attached hereto and incorporated herein by this reference ("Valet AreaN). C. Signage - nd Cones. Valets may,use signage to designate that there is valet parking available, provided that the specific signage used and the location of such signage shall be pre -approved by Irvine, said approval not to be unreasonably withheld. Absolutely no cones shall be used by GRC or Service. D. Insurance. Service, at its sole cost and expense, commencing on the earlier of (i) the date the Service commences operations, or (ii) the date the Service enters the Property, and continuing during the Term, shall procure, pay for and keep in full force and effect the following types of insurance, in at least the amounts and in the forms specified below: (1) Comprehensive liability insurance with coverage limits of not less than One Million Dollars for bodily injury, personal injury, death and property damage liability per occurrence, insuring against any and all liability of the insureds with respect to the Valet Area or Property or arising out of the maintenance, use or occupancy of the Valet Area or related to the exercise of any rights of the Service pursuant to this Second Amendment, or the operation of 8870r/3400/640 -3- the Service subject to increases in amount as Irvine may reasonably require from time to time. All such comprehensive liability insurance shall specifically insure the performance by Service of the indemnity agreement as to liability for injury to or death of persons and injury or damage to property set forth in paragraph 7. Further, all comprehensive liability insurance shall include, but not be limited to, personal injury, blanket contractual, cross-liabilitY and severability of interest clauses, products/completed operations, broad form property damage, independent contractors, and owned, nonowned and hired vehicles. (2) Worker's compensation coverage as required by law, including employer's liability coverage, in amounts satisfactory to Irvine, and waiver by Service's insurer of any right of subrogation against Irvine by reason of any payment pursuant to such coverage. E. Policy Form. All policies of insurance provided for herein shall be issued by insurance companies with general policy holder's rating of not less than A and a financial rating of not less than Class xII, as rated in the most current available "Best's Key Rating Guide," and which are qualified to do business in the State of California. All such policies shall name and shall be for the mutual and joint benefit and protection of Irvine, the Service, Sunwest Asset Management Corporation, California Recreation Company and Irvine's mortgagee(s) or beneficiary(ies), and the employees, agents, officers, directors and shareholders of each of the foregoing, (collectively the "Indemnitees") as additional insureds. Executed copies of the policies of insurance or certificates thereof shall be delivered to Irvine prior to Service, its agents or employees entering the Property for any purpose. Thereafter, executed copies of renewal policies or certificates thereof shall be delivered to Irvine within 30 days prior to the expiration of the term of each policy. All public liability, property damage and other casualty policies shall be endorsed to read that such policies are primary policies and any insurance carried by Indemnitees, jointly or individually, shall be noncontributing with such policies. F. FaiLure by 5ervice to Maintain Insul3ln-C&- Notwithstanding the 3)K -day right to cure provision under paragraph 2 of this Second Amendment, if Service refuses INITbkL or neglects to secure and maintain insurance poliC complying with the provisions of this Paragraph 4, Irvine(#) may terminate this Second Amendment effective ten (10) days after the date of written notice from Iry ine to GRC \T of such failure. 8870r/3400/640 -4- 5. other Rules an ReqkL4t�i�n * Irvine shall have the power to promulgate reasonable rules and regulations for the operation of the Service, and GRC and the Service shall promptly comply with same. 6. operation Costs. Irvine shall not be responsible or liable for any start-up, operation, management, repair or any other cost directly or indirectly associated with the management or operation of the Service. 7. Indemnity. To the fullest extent permitted by law, GRC covenants with Irvine that the Indemnitees, shall not be liable for any damage or liability of any kind or for any injury to or death of persons or damage to property of GRC or any other person occurring after the date this Second Amendment is signed by the owners from any pause whatsoever related to the use, occupancy or enjoyment of the Valet Area or the Property by GRC or any person thereon or holding under GRC including, but not limited to, damages resulting from any labor dispute. GRC shall defend, indemnify and save the Indemnitees harmless from all liability whatsoever on account of any real or alleged damage or injury and from liens, claims and demands related to the use ofthe Valet Area and its facilities and the Property, or any repairs, alterations or improvements which GRC may make or cause to be made upon the Valet Area, and any loss or interruption of business or loss of rental income resulting therefrom. GRC shall in all cases accept any tender of defense of any action or proceeding in which the Indemnitees are named or made a party and shall, notwithstanding any allegations of negligence or misconduct on the part of the Indemnitees, defend the Indemnitees as provided herein. This obligation to indemnify shall include reasonable attorneys' fees and investigation costs and all other reasonable costs, expenses and liabilities incurred by the Indemnitees or their counsel from the first notice that any claim or demand is to be made or may be made. GRC shall not be liable for any damage or injury to the extent and in the proportion that the same is ultimately determined to be attributable to the negligence of Irvine or its designated agents, servants, contractors or employees, and Irvine shall reimburse to GRC its reasonable cost of defense to the extent and in the proportion of Irvine's negligence. 8. No Vicari Li -ility. The owners agree that GRC and the Indemnitees are not to be deemed partners or joint venturers, and that the services to be rendered by the Service are as an independent contractor. Indemnitees shall not be vicariously liable for the acts or omissions of the Service, its officers, employees, or agents. 9. Licenses and -Permits. All licenses and permits required for the operation of the Service shall be in either GRC's or the Service's name. Irvine shall not be liable for the cost or the obtaining of any licenses or permits-. 8870r/3400/640 -5- 10. Ssafetty and Cleanliness. GRC and its agents or representatives shall at all times maintain the Valet Area in a safe, clean and orderly manner, and in a condition which is acceptable to Irvine. 11. Approval by Beneficiar The Owners hereby acknowledge that this Second Amendment is subject to the prior approval of Prudential Insurance Company of America. 12. Conflict or Inconsistency. In the event of any conflict or inconsistency between the terms and conditions of this Second Amendment and the terms and conditions as set forth in the REA or First Amendment, the terms and conditions of this Second Amendment shall control and govern the rights and obligations of the parties. 13. REA and First Amendme-n-t. The REA and First Amendment in all other respects shall remain the same and -be binding and enforceable as against the Owners and their successors and assigns. 14. CounterparU. If this Second Amendment is executed in counterparts, each counterpart shall be deemed an original. IV. EXECUTION The parties have executed this Second Amendment on the date set forth in "I. PARTIES AND DATE" above. "Irvine" THE IRVINE COMPANY, a Mich* Van rporation P, Pp By. frAderick 0. Evans Presid nt Me C.7 By: Clarence W. Barker Its: Assistnnt Address: c/o Irvine Retail Properties Company 2 Park Plaza Third Floor Irvine, California 92714-5904 Attn: David Fields, Esq. 8870r/3400/640 -6- "GRC" GRC RESTAURANTS, INC., a California corporation By: 104 I S By: --- I t s Address: 2701 Alton Avenue Irvine, CA 92714 8870r/3400/640 -7- VESSEL MOORING AGREEMENT THIS VESSEL MOORING AGREEMENT is made by and between CALIFORNIA RECREATION CO. (hereinafter referred to as "Company") and (hereinafter individually and collectively referred to as "Vessel owner"). The Vessel Owner desires to moor his vessel described below (hereinafter referred to as the. "Vessel") at mooring space No. (hereinafter referred.to as the "Mooring") at (hereinafter referred to as the "Marina!'). in reliance on the promise made by the Vessel Owner to perform all the terms and conditions of use contained in this Agreement, Company hereby grants to Vessel Owner the right to moor the Vessel described below at the Mooi*ig and for no other purpose, beginning on the day of 19 _ . and continuing thereafter on a month -t6 --month basis until term,inated according t Paragraph 7 below. 1. Vessel Description. Vessel Name: CF/Doc. No.: Builder: Builder's Hull No. Type Total Length Beam Draft (including bowsprit, pulpit,, boarding step, etc.) Insurance Carrier/Agent- Insurance Policy No. - Vessel Owner agrees to give Company written notice of any change in the Insurance Carrier, 0 Insurance Agent, or Insurance Policy Number, within five (3) days after the occurrence or any such change. Z. Owner. Name: --- Residence Address(es), Business Address(es), Phone- Res. Bus. Le -al Owner: (such as corporation, lienholder or other name appearing on evidgnce or tit7a7— Address: Phone: Vessel Owner agrees to give Company written notice of any changes in the above information. within five (5) days after the occurrexiceof any such change. 3. moorinR Fees. Vessel Owner agrees to pay Company mooring fees of Dollars (� ) per month, in advance, on or before the first day of each month, at company's ice at 550 Newport Center Drive, Newport Beach, California, or at such other place as may from time to time be designated by Company in writing. Vessel Owner agrees and under- stands that Company will not bill Vessel Owner for monthly mooring fees, and that Vessel Owner must pay these fees to Company each month without any prior billing, demand or notice. Vessel Owner agrees to pay a service charge of Dollars ($ ) mooring 0 fees are not paid within ten (10) days of the due data, 5lus an additio-n-31 charge or Dollars ($ for each ) day period thereafter, until same shall hav-e-Fe-e-n-7-uEr7- -paid. Upon not less than—sixt7 (60) days' prior written notice to Vessel Owner, Company may alter At any time the amount of monthly mooring fees payable under this Agreement. 4. Securit:7 Denosit. Vessel Owner agrees, upon the execution of this Agreement, to deposit with the Company the sum or Dollars (' as a deposit to the faithful pertormafice of Vessel Owner's W=gations hereun—der7-7`ompany­ma7 , at its sole option, claim such amounts of said deposit as are,teasonab17 necessary in Company's judgment to remedy Vessel owner's defaults in the payment of mooring fees and other charges, to repair damages to the Mooring or the Marina caused by Vessel Owner or any person in or about the Marina through or under Vessel Owner, to clean the Mooring when Company regains possession of the.same, and t ' o pay any reasonable attorneys' fees incurred by Company in connection with any default or breach hereof by Vessel Owner. In the event this security depogit or any portion thereof shall be applied as provided herein, Vessel Owner agrees to deposit with Company within ten (10) days after written demand from Company an amount sufficient to restore said security deposit to its original amount; and failure to do so shall constitute a breach of this Agreement. 4. Securit7 Deposit. (Cont'd) Upon termination of this Agreement as provided in Paragraph 7, any remaining portion of said Security Deposit will be returned to Vessel Owner as soon after Company has regained possession of the Mooring and is able to determine the amount of said deposit it may claim hereunder. Vessel.Owner may not use any portion of said Security Deposit as payment of his last month's mooring fees.� Company shall have the right to commingle said security deposit with other funds of Company. Company shall not.be obligated to pay interest on said security deposit. 5. Use Conditions. Vessel Owner promises that he,,Lll perform or abide by each and every condition of use conFaMned in this Agreement. Vessel Owner will not cause or allow'the Mooring to be used for Any purpose other than the mooring of only the Vessel described in Paragraph I above, and forather uses consistent with said mooring not prohibited herein. (a) Live Aboards. While at the Mooring, the Vessel shall not be used as a primary or secondary .residence r any person without the prior written approval of Company. No person shall live.aboa-rd the Vessel for a period in excess of fort7-eight� (48) hours without the prior written approval of Company. �,b) Discharge of Waste. No waste matter from sinks, toilets, marine heads, holding tanks, bilaes or any ottier receptacles shall be discharged into the waters of the Marina. If Vessel is equipped with a toilet, a marine head, or any other permanent or temporary receptacle for human body wastes, then the Vessel must be equipped with a holding tank designed to retain all human body wastes deposited in the receptacle until.such.time as tary sewer system or discharged otherwise in Accor - the wastes can be discharged into a sani� dance with law. Vessel Owner agrees to permit Company to inspect such holding tanks from time to time upon demand by the Company. (c) Signs. No sign for the purpose of advertising or display shall be placed on the vessel the prior written Approval of Company. (d) Overhangs. No part of the Vessel shallat =7�time extend over any portion of any dock in the �artna, and Vessel Owndr-agrees to indemnify and hold Company haimless for any injury or damage caused by any failure to comply with this condition. (e) Securing Vessel. At all times during which the -Vessel is berthed at,the mooring, Vessel Owner shall cause it to be safely and properly secured.to its mooring in a manner acceptable to Ccmpan7. If Company deems it necessary to resecure the Vessel. for any reason, Vessel Cromer agrees to pay Company a reasonable service charge for doing so plus the cost of all materials used therefor. However, Company assumes no responsibili"7 for the safety Of the Vessel and will not be liable for fire, theft or any damage to said Vessel, its equipment, or any property in or on said Vessel by reason of Company?s decision either to resecure saLd-vessel or to not resecure said Vessel.. (f) Condition of Mooring. Vessel Ow.ner.hereb7 acknowledges that Vessel Owner has inspected the Mooring and those portions of the Marina associated with the Mooring, including, without limitation, the floats; walks, gangways, and ramps, knows the condition of same, hereby accepts the Mooring in such condition and agrees that no statement or representation as to condition has been made by the Company. Company shall not be responsible for injuries to persons or property Occurring thereon or for any, other reason. (g) Vessel Owner's Care of Mooring and Docks. Vessel Owner shall not store any small boats, dinghies, skiffs, bait tanks, boat gear, power lines, water,hoses or other personal property whatsoever at the Mooring (other than aboard the Vessel) or�on the docks or gangways adjacent to the Mooring, but shall keep the Mooring and said docks and gangways in a neat, clean and orderly condition, free and clear of all such items other than power lines and water hoses in use. No wheels, fenders, rubbing strips or other cushioning devices may, be attached to a dock for the purpose of protecting hulls, without the prior written approval of Company, No. alterations,may be made to the docks by the Vessel Owner, No f1mmmable or combustible materials shall be stored or'left on the docks of the Marina. Vessel.Owner, agrees to make a written report to Company of any conditions existing on or. about the Marina which Vessel Owner'believes to -be a hazardous condition or which might develop into a hazardous condition. (h) Commercial Enterprise. Vessel Owner will not conduct or allow the Vessel to be used for commercial enterprisg during the existence of this Agreement without the prior written approval of the Company. (i) Guests. Vessel Owner agrees.that all -guests and hired personnel will conform their Tc-tivities to the requirements of this 0 Agreement, and Vessel Owner agrees to be liable for, and tolindemnily and hold Company harmless from, any damages or injury causedb7 any, such guest or hired personnel while in the Marina. Company reserves the right to regulate the entry into the Marina by yachtbrokers and yacht service personnel. Company may ascertain that third parties aboard the Vessel are authorized by Vessel Owner to be aboard. 2 5. Use Conditions (Cont'd) (j) Extended Vessel Absence. Continuous vacancy of the Mooring for more than fifteen (15) days is conclusively presumed to constitute both an abandonment of the Mooring by Vessel Owner and an immediate termination of this Agreement, unless the Company is notified in writing prior to the commencement of said period of absence of Vessel Owner's intention to maintain this Agreement in full force and effect. (k) Change of M2or Company reserves the right to move or to require a Vessel Owner to The move the Ve m the Mooring to another mooring within the Marina at any time for any reason whatsoever. Vessel Owner hereby grants to the Company permission to board the Vessel for said purpose. Neither Company nor any of its officers, agents or employees shall have'any liability for loss or damage resulting from any such movement of the Vessel or from any failure to move the Vessel. (1) Insurance. Vessel Owner agrees to maintain in force a policy of complete marine insurance coverage, including liability coverage. Said insurance policy shall be maintained on a minimum basis of $50,000 for damage to property,.$100,000 for bodily injury to or death of any one person, and $200,000 for bodily injury or death in any one accident. (m) Assignment and Subletting. Vessel Owner shall have no right or power whatsoever to assign this Agreement or sublet the Mooring or any part thereof to any other person or party whatsoever or for use by any other vessel whatsoever. No attempted transfer or assignment, whether voluntary or involuntary, by operation of law, under legal process or proceedings, by receivership, in bankruptcy, or otherwise, and no attenpted subletting, shall be valid or effective, but shall automatically terminate this Agreement. If Vessel Owner notifies the Company in writing of his intention to have the Mooring vacant for a stated period, the ­- --.7 - --- ­­ ­­ ­­­ ­­C6�U&A, �L=U�L V1=Zb1=.L VWLAU.L: ZS &LUL;UUL1L LUr Ele-L income received from such use. (n) Regulatio ns. Vessel Owner agrees to use the Mooring and the Marina in accordance with the Company's Rules and Regulations, a current:copy of which Vessel Owner has received and which, by this reference, is made a part hereof. Company reserves the right to modify its Rules and Regulations from time to time. Vessel Owner further agrees not to violate any law, ordinance, rule or regulation ofany governmental authority with respect to the Mooring or Marina. 6. Parties' Liabilities. Vessel Owner hereby agrees to hold Company harmless from and to I pay upon demand all costs of repair and restoration necessitated by any damage or destruction to the Mooring or the Marina or any part thereof or any vessels located therein or thereabout resulting from any act or omission of Vessel Owner and/or any person in or about the Mooring orthe Marina through or under Vessel Owner. Vessel Owner agrees that any electrical service taken from a common outlet to his Vessel will be properly connected by Vessel Owner so as to prevent any damage orinjury to the Vessel, persons, docks, other vessels in and all portions:of the Marina. Vessel Owner hereby assumes liability for all such damage or injury arising from his use of electrical service. Vessel Owner agrees to indemnify and hold Company harmless from any damage or injury to the Vessel, to the Vessel Owner, to his family, guests or hired personnel, from any cause. Vessel Owner waives all claims against the Company for damage to persons or property arising for any reason. Vessel Owner agrees that Company shall not be liable for, and this Agreement shkll not be ter- minated or altered by, any interruption of or interference with the Mooring, utility services or restroom accommodations due Vessel Owner hereunder caused by strike, riot, orders or acts of public authorities, acts of third parties, accident, the making of necessary repairs to the Marina, or any cause beyond Company's control. If more than one Vessel Owner is a party to this Agreement, the obligations of all such Vessel Owners shall be and is joint and several. 7. Termination. Except as otherwise provided in subparagraph 5(j) above: (a) This Agreement may be terminated at any time by either party for any reason whatsoever upon not less than thirty (30) days' written notice. (b) This Agreement shall, at the sole option of Company, automatically and immediately terminate at such time as Vessel Owner sells, leases, charters or otherwise transfers any or all of his interest in the Vessel to any other party, whether or not such transfer is voluntary or involuntary by operation of law, under legal process or proceedings, by receivership, in bankruptcy or otherwise. 0 (c) If Vessel Owner fails to perform any of the terms, conditions and promises as set forth in this Agreement, Company may, without waiving any other remedies it may have, immediately terminate this Agreement upon written notice to Vessel Owner.. 3 7. Termination (Cont'd) (d) This Agreement shall automatically terminate upon any destruction of the Mooring by reason of fire, storm or any other cause. 8. Surrender. Upon termination of this Agreement, Vessel Owner shall remove the Vessel from the Ro-oring, shall remove all other of his personal property, if any, from the Marina, and shall surrender to the Company the Mooring and all keys to the Marina in as good conditionas existed at the date of this Agreement. 9. Remedies for Default. If Vessel Owner fails to pay mooring.fees, costs of repair or restoration or other charges to be paid by Vessel Owner, or in the event of any other default by Vessel Owner, Company may, at its option, pursue any and/or all rights and remedies as are now or may hereafter be provided or allowed by law or in equity, including, without limitation, the right to recover from Vessel Owner all amounts provided or allowed by law, the right to take possession And control of and remove and store the Vessel for the purpose of perfecting and executing upon Company's statutory lien rights in the Vessel and/or the remedy of prosecuting an unlawful detainer action against Vessel Owner. In the event of any default by Vessel 6wner in the pay- ment of charges for mooring or for the furnishing of services by Company for the benefit of the Vessel, Vessel Owner does hereby give Company permission to take possession of said Vessel for purposes of executing any lien arising againstsaid Vessel, said possession to be conclusively presumed to be lawful. 10. No Waiver. The exercise or failure to exercise any available remedy for any breach of this Xg-reement shall not constitute a waiver of Company's right. to have that or any other remedy for any other breach of the same or anyother provision of this Agreement. Failure of Company to exercise any of its rights under this Agreement or Company's acceptance of the mooring fee after any default shall not be considered or construed to waive any right of Company or to affect any notice or legal proceedings theretofore given or commenced. 11. Attorneysi Fee s. In the event Company shall bring an legal action to enforce or have declared ajany of its rights or remedies hereunder, Company sh I be entitled to recover as part of such Action its reasonable attorneys' fees and court costs, , 12. Notice. Any notice to be given or document to be delivered by either party to the other shall E-ein writing and may be delivered inperson to Any officer'of Company, or to Vessel Owner, or may be deposited in the United States mail in the State of California, with postage prepaid and addressed to Company at its address set forth in Paragraph 3 above, and to Vessel Owner at the residence address set forth in Paragraph 2, or at such other address as either of the parties may hereafter designate by written notice given in accordance with this paragraph. If more than one Vessel Owner is, a party to this Agreement, service of any notice upon any one of said Vessel Owners shall be deemed as service upon. all of said Vessel Owners. VESSEL OWNER REPRESENTS AND WARRANTS THAT ALL STATEMENTS MADE HEREIN ARE FULL, TRUE AND CORRECT. VESSEL OWNER ACKNOWLEDGES THAT THE COMPANY HAS FULLY RELIED UPON THESE STATEMENTS IN EXECUTING THIS AGREEMENT. COMPANY DOES NOT HEREBY ASSUME CUSTODY OR POSSESSION OF THE VESSEL NOR ANY RESPONSIBILITY WHATSOEVER FOR THE CARE OR PROTECTION OF SAME. RATHER, VESSEL OWNER HEREBY ASSUMES ALL RISKS ASSOCIATED WITH THE USE AND OCCUPANCY OF THE MOORING AND AGREES THAT:COMPANY, ITS DIRECTORS, OFFICERS,, AGENTS AND EMPLOYEES SHALL NOT BE LIABLE FOR ANY INJURY, INCLUDING DEATH, TO ANY PERSON CAUSED BY ANY USE OR OCCUPANCY OF THE MOORING OR ARISING FROM ANY ACCIDENT OR FIRE OR OTHER CASUALTY THEREIN OR THEREABOUT OR FROM ANY OTHER CAUSE WHATSOEVER, NOR SHALL COMPANY, ITS DIRECTORS, OFFICERS, AGENTS OR EMPLOYEES BE LIABLE FOR ANY LOSS OF OR DAMAGE TO ANY VESSEL, GEAR, EQUIPMENT, FITTINGS, FIXTURES, CONTENTS AND OTHER ARTICLES BELONGING TO VESSEL OWNER OR LOCATED IN OR ABOUT THE MOORING OR THE MARINA. VESSEL OWNER HEREBY AGREES TO'INDEMNIFYAND HOLD COMPANY, ITS DIRECTORS, OFFICERS, AGENTS AND EMPLOYEES HARMLESS FROM ALL LIABILITY FOR ANY SUCH INJURY, LOSS, DAMAGE OR CLAIM, INCLUDING, WITHOUT LIMITATION, REASONABLE ATTORNEYS' FEES AND COURT COSTS. IN WITNESS WHEREOF, the parties have executed this Vessel Mooring Agreement as of the day of 19 CALIFORNIA RECREATION CO. By: I'Company" I EXISTING EASEMENTS I I I I 0 UTILITY EASEMENT RESERVED IN FAVOR OF SOUTHERN CALIFORNIA EDISON COMPANY, ORANGE COUNTY SANITATION DISTRICT NO. 5, SOUTHERN CALIFORNIA GAS COMPANY, TELEPROMPTER CABLE TV, PACIFIC TELEPHONE & TELEGRAPH - COMPANY AND THE STATE OF CALIFORNIA PER INSTRUMENT NO. 83-549259, O.R. � . � . � EASEMENT FOR UTILITY VUKPWtb THE CITY OF NEWPORT (D BEACH PER TRACT 5361. � ' ' (D EASEMENT FOR WATERLINE PUR SES TO THE CITY OF NEWPORT BEACH PER 74451777, O.R. � ' 0 EASEMENT TO SOUTHERN CALIFOR A EDISON COMPANY PER 11456/1130, O.R. 0 EASEMENT TO SOUTHERN CALIFOR A EDISON COMPANY PER 13718/1004, O.R. � . I � G) 'EASEMENT FOR RETAINING WALL F90TINGS TO THE STATE OF CALIFORNIA PER 14242/1773, O.R. � I EASEMENT FOR BUILDING STRUCTURE PER 86-227836, O.R. 0 ' � ! I , (�) VEHICULAR ACCESS RIGHTS TO PACIFIC COAST HIGHWAY HAVE I BEEN RELEASED AND RELINQUISHED TO THE CITY OF NEWPORT - " I'l- I .1 I BEACH PER TRACT5361, 7166/657, O.R., AND 7166/661, O.R. I I � , ' I G) EASEMENT FOR UTILITY PURPOSES �O THE CITY OF NEWPORT BEACH PER TRACT 5361. 1 � e EASEMENT TO SOUTHERN CALIFORNIA, EDISON PER 7199/699, O.R., I I AND RE-RECORDED PER 7449/689, O.R. , I � I ­ 111. ­­­­ - 1. 1-11.1- 1--.11-1 __ .1�11 I 0 EASEMENT FOR INGRESS & EGRESS FOR THE BENEFIT OF THE . "PCH PARKING PARCEL " PER INSTR MENT NO. 93-0639213, O.R. I �, � I PROPOSED EASEMENTS � I I EASEMENT AREA WILL BE DESCR'13 D AS "PROPOSED EASEMENT � 0 FOR NAVIGATIONAL ACCESS PURP SES" ON FINAL PARCEL MAP ''I 93-206. 1 1 1 1 1 1 1 (�) - @ EASEMENT AREAS WILL BE (DESCRIBED AS "PROPOSED EASEMENTS FOR ACCESS AND kIVATE PIER PURPOSES" ON FINAL PARCEL MAP 93-206. 1 . I ' ' NOTE: THE,EASEMENT AREAS NOTED AS A THROUGH 0 COINCIDE WITH . EXISTING LEGAL DOCUMENTATION FORITHE SANE PURPOSE. . � a THERE WILL BE A RECIPROCAL INGRESS, EGRESS & PARKING AGREEMENT RECORDED BY SEPARATE INSTRUMENT PRIOR TO THE RECORDATION OF THE FINAL PARCEL MAP. . . I � 11 I NOTES I I I I � . 1� I 1. I ASSESSOR'S PARCEL NUMBERS: . 1 050-451-01, 050-451-03, 0507451-010, 050-451-053 & 050-451-055 1 . � ­ , � � I I - . , 2. EXISTING USE: RESTAURANT, MARINA & ASSOCIATED PARKING. � , I - � I PROPOSED USE: � THERE WILL BE NO CHANGE IN USE. I I . 3. 1 WITH THIS SUBDIVISION, INCLUDING DRAINAGE, WATER & SANITARY I SEWER FACILITIES. THERE IS NO PROPOSED TREE PLANTING OR . � LANDSCAPING. I I I � 4. ALL BUILDINGS & IMPROVEMENTS ARE TO REMAIN. NO GRADING IS PROPOSED. � I 1 5. THE EASEMENT FOR INGRESS & EGRESS AS SHOWN ON TRACT 1, 5361 WILL NOT BE SHOWN ON FINAL PARCEL MAP 93-206 AND ­­ 1-1 ­­ -----------�--WILL--MIE-RED'i"13r-ADAT-(rL>Or-ILL'>.,---- - I � . - I � � 6. 1 THE- EASEMENT TO THE CITY OF NEWPORT BEACH FOR PUMPING � �l PLANT PURPOSES PER 867/440, 0 i R., WILL NOT BE SHOWN ON 1� � I I FINAL PARCEL MAP 93-206 AND WILL THEREBY BE ABANDONED. �j z I j, � � , 1 7. DATE OF AERIAL PHOTOGRAPHY: 10/13/93 ,;I � I � !J_ 8. THERE IS AN EXISTING RECIPROCAL EASEMENT AGREEMENT ILI. r I WHICH ACCOUNTS FOR MUTUAL ACCESS & PARKING FOR THE 1 , PROPERTY �SHOWN HEREON. :,�i . ,,�I.: ,�� .� I 1 ;,4" 9. THE PROPERTY SHOWN HEREON LIES WITHIN FLOOD ZONE X & �`�-,- � AE AS DEFINED BELOW ON FEDERAL EMERGENCY 11 � '-' I .-�,' .,� � MANAGEMENT AGENCY (FEMA) FLOOD INSURANCE RATE MAP f - I ,!Nl, NO. 06059CO055E, EFFECTIVE DATE: 9/15/89. ,�,�-`nl` I "', I i,N-,-��.l� ZONE X: AREAS OF 500 -YEAR FLOOD; AREAS OF 100 -YEAR FLOOD h -.,,,`s . , I , - i. WITH AVERAGE DEPTHS OF LESS THAN 1 FOOT OR WITH,"�­,_. DRAINAGE AREAS LESS THAN I SQUARE MILE; AND AREAS,-- A':,'-,, PROTECTED BY LEVEES FROM 100 -YEAR FLOOD. lll�*�`,'�,�;; I ,Tb�i',- � I" """ ' ­" ' ­ � , ZONE X: AREAS DETERMINED TO BE OUTSIDE 500 -YEAR FLOOD,'�"-,,�''.�F , , I I PLAIN. I f"I", I t"_,'� `,iel . '�',,­ �,'I,l I ,­?.� - I . P:, ��,,.��l , �, ZONE AE: BASE FLOOD ELEVATIONS DETERMINED. I ,;_ ,,, ,,, ;i � ,�.,,"� 4 1 , � .,�n'�­��: , , ,- 1. , " �_,. _ " " '.,�., /��...,_��l � � 1, I 11, ----i / "A "; "' t. .,. �.." �,,�,� -, "� .'�� ', 1.!,�:,,��,,.,', �� ,,, �1, �,'_'-:; � � ­� ,� I , "� , , " . __ � �: lll,*%'ll` � .. �, , -, _. �.: , �, � �, : -,� 1.�;_:k I _,�� , :�- ".'� '-'; �,11:1�% 11 � � �,��,­._­.',..' I � I "-i �41!,,!,., f , " ,. ;.�: , � I I . I'll — �­",.,�:,:�':� I I , , , , , �:�:_`,`i_,,.-c,.- �, �': �­ �`,,-,,�. / �,:­, '%­,­�.�"11' , I . I _PARCEL AREA SUMMARY aj �­�!'�,,­��',;;',', ''I'.-- 11 - I .2 I ,`�!�;:�',!,,�,�`.'�": � ". �.,�- 4'.�.:� ­'�'- � _j / f�-,.� �Z.l ,. 1, it , I"'- , 1. 11 - "i549,11.1 .:1,1, � PARCEL 1 : 3.8 1 4� �.­, 1� C, � �_­:%"��' PARCEL 2: 0.8 1 �_� � � _ �, - __,';7,7-,.-,,--,-% _< �1� 1�,..'.;,:ll _� _� '- , PARCEL 3: 3.8 . � di - 'li��!,,.�,.��::,�i, I , � ��',',-,,'�:,�,.�',��,',*,-, 4.2 � z I ll"__� 1, PARCEL 4: i ,�,�,:;"..�'�",�',��ll'�'ll��� � , , , :, � t( �;,,�;,+( � I ',­i,-��!.� z Lu ��-"�,�.�,�'!."-""��ll.�".,,�; ': — I — V-1 I ,".. It ': , - JN- I ,,�,'�:�;�`." � TOTAL 10.6 / 1.11 I - .7 � v" . ,.,A�z�:, , p-,�-, : �, ,,,'.I- , , , �!,:,�'_ . �� I"�'��,,,�'�,",.''�'�!��i�",�,!., I I �_,�--��. , � 1.1: I ��`�"",;�,",-,� . �,�_ , , " � , '." �,l I I ',�'l , � I '. �, " ,� _,,, ,�, 1�,�­,,`,:, , I I �,.- ,:�: . ,,�!-�._i"­'��,%*,�� �,�,;: �, �.m I ,z - . "�, � - , ; �� ­;,,��, "� �.:, r, �, ". .. �,., � - w � / il_�,,_ �:"�% ','��.,�',"'�. - . 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I BEING A DIVISION OF LOTS 213 & A OF TRACT 5361 IN THE CITY OF NEWPORT I BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON THE MAP RECORDED IN BOOK 190,'PAGES 47 AND 48 OF MISCELLANEOUS MAPS, TOGETHER WITH, PARCEL 4 OF PARCEL MAP 93-111 IN SAID CITY OF NEWPORT BEACH RECORDED IN BOOK 298, PAGES 40 THROUGH 45 OF PARCEL MAPS, TOGETHER WITH THAT PORTION OF BLOCK 54 OF IRVINE'S SUBDIVISION IN SAID CITY OF NEWPORT BEACH RECORDED IN BOOK ly � PAGE 88, OF MISCELLANEOUS RECORD MAPS, ALL IN THE OFFICE OF THE . COUNTY�l RECORDER OF SAID COUNTY, TOGETHER WITH THAT PORTION OF � SECTIONS 26 & 27, TOWNSHIP 6 SOUTH, RANGE 10 WEST, SAN BERNARDINO � I MERIDIAN. � � I I � � � � � I ! WILLIAMSON & ..SCHMID, CONSULTING CIVIL ENGINEERS AND LAND� SURVEYORS . I I I � I .00TOBER, 1993 JAMES F. GILLEN, L.S. 5557 . 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