2001 Miraflores LP (LINC - DC&TC) - Assignment & Assumption AgrmtASSIGNMENT AND ASSUMPTION AGREEMENT OF
AFFORDABLE HOUSING AGREEMENT
(SENIOR APARTMENTS DEVELOPMENT)
THIS ASSIGNMENT AND ASSUMPTION AGREEMENT OF AFFORDABLE
HOUSING AGREEMENT (SENIOR APARTMENTS DEVELOPMENT) ("Assignment and
Assumption") is made and entered into as of this // day of 2001, by and
among the LA QUINTA REDEVELOPMENT AGENCY, a putlic body, corporate and politic
("Agency"), DC & TC, LLC, a California limited liability company ("Assignor"), and
MIRAFLORES, L.P., a California limited partnership ("Assignee").
RECITALS:
A. Agency and Assignor entered into that certain Affordable Housing Agreement dated
as of December 20, 2000 ("AHA"), pursuant to which Assignor, as the "Developer" defined in the
AHA, agreed to develop, with Agency's financial assistance, a 118 unit apartment complex for senior
citizens on certain real property in the City of La Quinta, State of California, as described in the AHA.
B. Assignor desires to assign the AHA, and all of Assignor's rights and obligations
thereunder, to Assignee and Assignee desires to assume Assignor's position with respect to the AHA
and all of Assignor's rights and obligations under the AHA subject to the terms of this Assignment
and Assumption.
C. In connection with the foregoing described assignment and assumption, the Agency
and Assignee have agreed to a modification to the AHA as set forth to be effective upon full
execution of this Assignment and Assumption by all the parties hereto.
AGREEMENT:
NOW, THEREFORE, in consideration of the foregoing Recitals and the covenants and
promises hereinafter contained, and for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:
I. Assignment and Assumption. Assignor hereby transfers and assigns to Assignee all
of Assignor's right, title and interest in and to, and obligations under, the AHA, and Assignee hereby
assumes all right, title and interest in and to, and obligations under, the AHA. Agency hereby
consents to the foregoing assignment and assumption.
2. Modification to AHA. Agency and Assignee agree that the AHA as assigned by
Assignor to Assignee and as assumed by Assignee as set forth in Paragraph I above shall be modified
as follows:
RMBUMME\181813 1 4/26/01
Section 107 of the AHA is modified in part to revise the first paragraph thereof to read as
follows (the remainder of Section 107 is not modified):
"The Developer is Miraflores, L.P., a California limited partnership. The
principal office and mailing address of the Developer for purposes of this Agreement
is c/o LINC Housing Corporation, 110 Pine Ave., Ste. 525, Long Beach, California
92802."
3. No Other Modifications. Except for the modifications to the AHA set forth in
Paragraph 2 hereof, the AHA shall remain in full force and effect and the provisions thereto, as
modified herein, shall apply to the interpretation and enforcement ofthis Assignment and Assumption.
4. Counterparts. This Assignment and Assumption may be executed in counterparts,
each of which, when this Assignment and Assumption has been signed by all the parties hereto, shall
be deemed an original, and such counterparts shall constitute one and the same instrument.
(signature page follows)
RI BUSOMEA81813 2 4/26/01
IN WITNESS WHEREOF, the parties hereto have executed and entered into this Assignment
and Assumption as of the date first above written.
"Assignor"
DC & TC, LLC
By
Michael J. SSh vlin, Managing Member
"Assignee"
MIRAFLORES, L.P., a California limited partnership
By: LINC Housing Corporation
Its: General Partner
Y
HunO CYohnson, President
"Agency"
LA QUINTA REDEVELOPMENT AGENCY
By �a✓J
Thomas P. Genovese, Executive Director
ATTEST:
Ju ek, Agency Secretary
2MBUSONEA 81813 j 4/26/01
,smART TITLE—R Iverside
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
BEST BEST a KRIEGER LLP (DEO)
7478C Highway 111, Suite 200
Indian Wells, CA 92210
Doc a 2001-282071
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ASSUMPTION AGREEMIP.NT
THIS ASSIIMPI'ION AGREEM>vNT ("Assumption A,g umem") is made end entered into as of
this// dayof 2001, by andamongtheLAQUINTARIEDEVELOPMENT AGENCY,
a public body, co rate and politic ("Agency"), DC & TC, LLC, a California limited liability company
("Assigner, and MtRAFLORES, L.P., a Califotnia limited partnership ("Asaisnee").
RECUALS
A. Agency and Assignor entered into that certain Affordable housing Agreement dated as of
December 20, 2000, pursuant to which Agency &steed to advance cenain monies to Assignor (the "Loan"),
which Loan is secured by certain real property in the City of La Quints County of Riverside, State of
California, and more particularly described on Exhibit "A" attached hereto and incorporued.herein by
reform=.
B. Assignor executed a Promissory Note evidencing the Loan dated December 20, 2000 in the
original principal amount of %.Oo0,000.00, payable to Agency (the "Note").
C. To seats repayrn ad of the Note, Assignor executed and delivered to Agency a Deed of Trust
Ind Secu * Agreetnetn with Aaetgomeet of Rents and Agreements (the "Deed of Trust") of even date with
the Note, whieki was recorded in the Official Records of Riv"da County, California on January 26, 2001
as Inatnnnad No. 2001-035562.
D. Assignor desire, to assign to Assignee all of Assignor's rights and obligations tender the Note
and Deed of Tnut, and Assiugttae h" a8rad to wars all of Assgnors dos, obligations eodUabilities arising
out of the Note and Deed of Trust (the "Assumption"). The Agency has agreed to coneerd to Assignee's
Assumption,
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AGREEMENT
NOW, THEREFORE, in consideration of the foregoing Recitals and the covenants and promises
hawatter contained, and for good and valuable consideration, the receipt and udWeney ofwhich are hereby
acknowledged, the parties hereto agree as follows.
1. A jI maent and Assumotion. Assignor hereby transfers and assigns to Assignee all of
Assignor's right, title and interact in and to, and all obligations and liabilities under, the Note and Deed of
Trust, and Assignee hereby unconditionally iswmes all right, title and interest ii and to, and agrees to be
bound by an terms, provIsons, covenants and obligations under the Note and Deed of Trust, as if Assignee
bad been the original maker ofthe Note and Deed of Trust. Assignee will pay all sums to be paid and perform
each mid every obligation to be performed by Assignor under and in accordance with the terms and conditions
of the Note and Deed of Trust.
2. NafigWop to NWe Uld Deed of Trust. Assignee agrees that the property described in
the Deed of Trust will remain subject to the lien, charge and eicumbrance of the Deed of Trust. Nothing
contained in this Assumption Agreement or done putsu&M to this Assumption Agreement will al3bet or be
construed to affect the lien, charge and encumbrance of the Dad of Taut
3, Countertiarts. This Assumption Agraanmt may be executed in counterparts, each of which,
when this Assumption Agreement has been signed by all the parties hereto, shell be deemed an original, and
such counterparts shall constitute one and the same instrument.
4. (�.g=&a r aw. This Assumption Agreement will be construed in accordance with the laws
of the State of California.
S. &=rM, This Assumption Agreement will be binding upon and will slurs to the benefit of
the parties to this Assumption Agreement and their respective hairs, wcceseon and assigns. Except as
assigned and assumed hereunder, the Note and Dead of Trust will be unchanged and remain in full force and
effect, and the provisions thereof shall apply to the interpretation and enforcement of this Assumption
Agraetnent.
anuosnsoI"M
(signature page follows)
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IN WITNESS WITREOF, the parties hereto have executed and entered into this Assignment and
Assumption as of the date first above written.
"Assignor"
DC & TC, LLC
Michael J. ShDAE, Managing Member
"Asaipee„
MIRAFLORES, L.P., a California limited parvrership
By; LILAC Housing Corporation
Its; General Partner
i
Hunter L. JoRmoN, President
"Agency"
LA QUINTA R®EVEL•OPMENT AGENCY
Byzd
Thomas P. Genoves4 Executive Director
ATTEST:
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STATE OF CALIFORNIA
COUNTY OF COUNTY OF RIVERSIDE
On _ June 11 2001 _ before me. _ donna M Ellis
personally appeared Michael J. Shovlln
to be the person
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acknnariedged to me that he executed the same in his
authorized capacfiy, and the! by his signature on the
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Description of Atfached Document
Title or Type of Document:
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Document Date:
Signer(s) Other Than Named Above: �—
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COUNTY OF COUNTY OF RIVERSIDE
On _ June 11. 2001 before me. _ Donna M E111%
personally appeared Hunter L Johnson
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whom name Ie subscribed to the wM t Instrument and
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STATE OF CALIFORNIA
COUNTY OF COUNTY OF RIVERSIDE
On - June 11 2001 _- before me, _ REGENIA HEN51 EX - -
personally apr eared Thomas P. Genovese
e personaAy known to me - OR - c proved to me on the basis of sstblfadory evidence to be the person
whose name Is aubeaibed to the within Instrument and
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Description of Attached Document
Title or Type Of Document:
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Capscity(iea) Claimed by Stgner(s)
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Rivaside CeuuYI Cahfocma.
TED UPON AND
SUBJECT ANY TAUS, ASSESSMENTS, LIENS, COVENANTS' Y CO ONSS,, RESTRICTIONS)
EASEMENTS, nRMLAL RIG= R1MM-OF-WAY AND ENCUMBRANCES AS THEY MAY APPEAR OF
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Order No.
ERT TITLE-AlVerSWO
Loan No.
RECORDING REQUESTED BY:
BEST DIST 6 RRIEM, LLP
ATTENTIyb#kD
ON�: t�D�,aavnv Olivier
Acc el�(,MAIL, TO:
Best Beat 3 Water
76760 Highway 111, Suite 200
Indian Weller, CA 92210
GRANT DUD
THE UNDERSIGNED ORANTOR DECLARES:
Doe as p200o1-2020'70
12312
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MW Mt b~ aaeparod with arlalnal
Gary L O`no
�r�r R�wtlt
naa�ecer, Raasrdar
7W,W CRO ^O// .e,
T)�mentary Tamdar Tax is $d&GMM 412)
Drier
Congalred m the full value of the itnarest f am or broo raoaie+e8 shemon at the =0 of sale.
� Campuoed m the fn11 value less the value of Baas of eacemdttaoeee � vrldrb is hdd, gsaame(s)
No Docurnes>te�' TtanatbrTax ie due siace this ooaveyaaee �
and gtano mw ramie the same and cm=ue m hold the am Ptaportioerta mtaeat-
APN:
FOR VALUABLE CONSIDERATION, the recwpt of which is hemby aelmoevlcdmO-
DC 8: TC, LLC. a California limited liability o=PanY.
hereby gl2M to:
MIRAFLORES, L.P., a California limited partnership
the teal pmprty in the City of La QWM Camay of Riveee* State of California:
SEE EXEflB[f `A' Ar j AC[�D ECER>:TO AND l INCORPORATED BY REF£R>3'iCE
Dated: // 2001
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Rcmaiad ParccL of iced No. 2S601-1 ae per"recorded in Bock 279, ?ages S6 oum& 90 of Maps. Rmords of
Riverside County, Califomis.
JJW CONVEYANCE IS MADE AND ACCEPTED AND SAID PROPERTY IS HEREBY GRANTED RESTRICTIONS,
SOSIBCT TS, ANY
RAAL RIGHTSSRIG �F WAY AAND ENCUMBRANCLIENS. coVENANTS. ESAS nWY MAY APPPEAR OF
6ASEM6NTS,NmdS
RECORD,
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STATE OF CALIFORNIA
COuN W OF RIVERSIDE
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and that M s on
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OPTIONAL
Tbagh the data below is act Muieed by �", it UW P� ylaable to Pin >c1Y�i on the docutnrnt and mould
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op„gCBIpTION Op ATTACHED
CAPACITY CLAIMED BY SIGNER DOCUMENT
IMrVIDUAL
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�(,E OR TYPE OF DOCUMENT
1TeLE(S)
❑ PARTNIBR(S) a LiMrrW
GENERAL
t rl ATCORNEY•IN'FACL gER OF PAGES
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p GUARDIANICONSERVATOR
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STATE OF CALIFORNIA
CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE
915 CAPITOL MALL, ROOM 311 MEMBERS
SACRAMENTO, CA 95814 TELEPHONE: (916) 653-3255 SPhilitate pAn eadessurelides, Chairman
FAX: (916) 653-6827
Laurie Weir
Executive Director
May 18, 2002
Gray Davis
Governor
Kathleen Connell
State Controller
William Marticorena, Esq.
Rutan & Tucker, LLP
611 Anton Boulevard, Suite 1400
Costa Mesa, CA 92626
Dear Mr. Marticorena:
RE: IRS CERTIFICATION (Application #01-212)
Enclosed is the required certification stating that the bonds issued by the Redevelopment
Agency of the City of La Quinta for the Miraflores Senior Apartments Project met the
requirements of Section 146 of the Internal Revenue Code.
Please do not hesitate to contact either Carolyn Lutton or myself at (916) 653-3255 should
you have questions.
Sincerely,
URIE WEIR
Executive Director
Enclosure
cc: Thomas P. Genovese, La Quinta Redevelopment Agency
Frank J. Spevacek, Rosenow Spevacek Group, Inc.
STATE OF CALIFORNIA
CALIFORNIA DEBT LIMIT ALLOCATION COMMITTEE
915 CAPITOL MALL, ROOM 311 MEMBERS
SACRAMENTO, CA 95814
TELEPHONE: (916) 653-3255 \ A/�� Philip Apelides, Chairman
FAX: (916) 653-6827 ' J State Treasurer
Laurie Weir yp Gray Davis
Executive Director 1 /1 _`J�� Governor
MAY 3 �(l Kathleen Connell
State Controller
May 18, 2002
Thomas P. Genovese
Executive Director
Redevelopment Agency of the City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Dear Mr. Genovese:
RE: RELEASE OF PERFORMANCE DEPOSIT (Application #01-212)
This letter provides written authorization for the release of the $40,000 performance
deposit that was certified by the Redevelopment Agency of the City of La Quinta in
support of the application for an allocation of the 2001 State Ceiling on Private Activity
Bonds for the Miraflores Senior Apartments Project.
This release is being provided based upon information presented in the Report of Action
Taken that was filed with the California Debt Limit Allocation Committee on April 16, 2002.
The full amount of the deposit is being released since the full amount of the allocation was
used to issue bonds.
Please do not hesitate to contact either Carolyn Lutton or myself at (916) 653-3255 should
you have questions.
Sincerely,
LAYR WEIR
Executive Director
cc: Frank J. Spevacek, Rosenow Spevacek Group, Inc.
Hunter L. Johnson, LINC Housing Corporation
eit# 4 .C'a 2u4rz`4
f a c s i m i l e OFFICE THE CITY CLERK
TRANS M I T T A L JUNE S. GREEK
To: Kathy Jenson
Of: Rutan and Tucker
Fax: (714)546-9035
Phone: (714) 641-3413
Pages: 4, including this cover sheet.
Date: May 29, 2002
Kathy,
Here are the letters and the form I called you about. Please advise if I need to do
anything further.
June
From the desk of...
State of California
County of Riverside
On before /O �-- before me, Phyllis Manley, Notary Public,
personally appeared Thomas P. Genovese and June S. Greek, personally known to me
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 person or the entity upon behalf of
which the persons acted, executed the instrument.
WITNESS my hand and official seal.
(Seal)
PHYLUS MANLEY
Commission # 1196590 Z
Z Notary Public - California;
Riverside County
QoMyComm. B
sOa,t16,MQ2
2062-171478
F,EC;ORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
Best Best & Krieger LLP
74-760 Highway 111, Suite 200
Indian Wells, California 92210
Attention: Daniel E. Oliver, Esq.
(Space Above For Recorder's Use)
ASSIGNMENT OF DECLARANT'S STATUS
THIS ASSIGNMENT OF DECLARANT'S STATUS (this "Assimnent") is made this
3& ' day of July, 2002 by and between CATELLUS RESIDENTIAL COMMUNITIES, INC.,
a California corporation ("Catellus") and DC&TC, LLC, a California limited liability company
("Assignee").
WITNESSETH:
A. Catellus is the "Declarant" under the Declaration of Covenants, Conditions,
Restrictions and Reservation of Easements for Miraflores, recorded on February 3, 2000, as
Instrument No: 2000-041793, in the Official Records of Riverside County, California, as
amended (the "Declaration"). The Declaration covers certain real property in the City of La
Quinta, Riverside County, California, including "Annexable Territory," as more particularly
described in the Declaration (the "Propert ").
B. Pursuant to Section 1.20 of the Declaration, Catellus desires to assign to Assignee
any and all of Catellus' right, title and interest as "Declarant" under the Declaration (the
"Declarant's Rights").
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows:
1. Catellus hereby assigns, sells, transfers, sets over and delivers unto Assignee all
of Catellus' estate, right, title and interest in and to the Declarant's Rights, and Assignee hereby
accepts such assignment "AS -IS", without any representation or warranty of any kind from
Catellus and without any recourse against Catellus.
2. Assignee hereby assumes the performance of all of the terms, covenants and
conditions imposed upon Catellus as Declarant under the Declaration accruing or arising on or
after the "Effective Date" (as defined below).
3. Assignee hereby agrees to indemnify, protect, defend (with counsel chosen by
Catellus) and hold Catellus harmless from and against any and all liability, loss, damage or
expense (including, without limitation, reasonable attorneys' fees) which Catellus may incur
630167.03/OC
-1-
under the Declaration, and from any and all claims or demands whatsoever which may be
asserted against Catellus by reason of any alleged obligation or undertaking on its part to
perform or discharge any of the terms, covenants or agreements contained therein, to the extent
such claims or demands are attributable to the period after the Effective Date.
4. In the event any action or suit is brought by a party hereto against the other party
by reason of any breach of any of the covenants, conditions, agreements, indemnities or
provisions on the part of the other party arising out of this Assignment, then in that event the
prevailing party (which for purposes herein, is the party obtaining substantially the relief sought)
shall be entitled to have and recover of and from the other party all costs and expenses of the
action or suit, including reasonable attorneys' fees.
5. This Assignment may be executed in counterparts, each of which shall be deemed
an original, but all of which, together, shall constitute one and the same instrument.
6. This Assignment shall be binding upon and inure to the benefit of the successors,
agents, personal representatives, heirs and legatees of the respective parties hereto.
7. This Assignment shall be governed by, interpreted under, and construed and
enforceable in accordance with, the laws of the State of California.
8. This Assignment shall be effective as of October 25, 2000, which is the date that
certain portions of the Property were conveyed to Assignee by Catellus' successor in interest, La
Quinta Redevelopment Agency. The portions of the Property were conveyed to Assignee
pursuant to that certain Grant Deed recorded on October 25, 2000, as Instrument No. 420072,
Official Records of Riverside County, California.
HI
///
630167.03/0C
-2-
STATE OF CALIFORNIA )
ss.
COUNTY OF C)P- p,, 4 6 6-
On j,tr . L i , 2002, before me, a notary public, personally appeared
jC, ev-,^ M A . S 0 AL personally known to me (or proved to me on the basis of
satisfactory evidence) to be the person whose name is subscribed to the within instrument and
acknowledged to me that he/she executed the same in his/her authorized capacity, and that by
his/her signature on the instrument the person, or the entity upon behalf of which the person
acted, executed the instrument.
WITNESS my hand and official seal.
,!
Jf f SMOOT By. \
Commission # 1271264
Mta y Pubic - Caffaida
son Francisco CCU*
1„h,C0mm.eVh sJuf21,2M)4
STATE OF CALIFORNIA )
) ss.
COUNTY Op i V ei�5 id.Q )
OnaLt� t � � , 2002, before me, a notary public, personally appeared
M i c'hn e 13. shod f i n personally known to me (or rov . to me on the basis of
satisfactory evidence) to be the person whose name is s bscribed to the within instrument and
knowledged tome that(d/she executed the same iniher authorized capacity, and that by
hi /her signature on the instrument the person, or the entity upon behalf of which the person
acted, executed the instrument.
WITNESS my hand and official seal.
NORA CARRANZA B
l i Commission # 1239134 Y
+� -, G" Nolary Public - California
# Rives my Cou^tY
i CCMn16'.3.`i;'"S�ci`,2m:'
6301 G7.03.00
-4-
IN WITNESS WHEREOF, Catellus and Assignee execute this Assignment below.
"Assignee": DC&TC, LLC, a California limited liability
company
By: -�
Name:
Title: AW AIA G /.yG
"Catellus": CATELLUS RESIDENTIAL COMMUNITIES,
INC., a California corporation
By:
Name: q rs
Title:
ACKNOWLEDGED AND APPROVED:
LA QUINTA REDEVELOPMENT AGENCY,
a public body, corporate and politic
Name: MARK WRTSS
Title: Acting Exec„t;ytz Director
By:
Name:
Title:
630167.03/OC
-3-
LINC Housing
1 10 PinC AVCMIC, SnIte S00
Lone Lkach.CA90802-4408
Telepn
CERTIFICATION OF COMPLIANCE lC �02.hSa.1 too
Fucsimlle- 562.6R4-1137
,owcv linchoLI WII" ore
Project Name: SEASONS=at-AAiraflores=Affordable=Housing- SF;12ViNG,
our.
CDLAC Application No.: 01-212 COY1MUNITtES
THROUGH
Pursuant to Section 12 of Resolution No. 01-202 (the "Resolution"),
Resolution„ HOUSING ),
adopted by the California Debt Limit Allocation Committee (the
"Committee") on (12/19/2001), coaroRATE orriCras
i Karen N. Maeshima, an Officer of the Project Sponsor, hereby Hunter L. Johnson
certify under penalty _ of perjury that, as of the date of this President & Ccg
Certification, the above mentioned Project is in compliance with all ';m r Lay Chan,
6-coo i
of the terms and conditions set forth in the Resolution. Bxccr,ti�e vice President
iinla
I further certify that I have read and understand Section 3 of the K` "cu -coo" cooi/
Resolution, which specifies that once the Bonds are issued, the C,;er rinnncial officer
terms and conditions set forth in Resolution shall be enforceable by Nina Doolev
the Committee through an action for specific performance or any vice President
other available remedy (as further explained in Section 12 of the
Resolution). BOARD OF DIRECTORS
Dee Hardison
Chair
Jeffrev M. Mindes
Vice Chair
Date Pant M. Non�atka
Signatur� o Officer secre ry
Robert J. Norris, Jr.
Treasurer
Karen Maeshima
John � ,ive,n
Printed Name of Officer
'I'icna Johnson -Hall
Roger A. Martinez
-
Mark A. Montoya
Co-COO/CFO
Jodie Newtiery
Title of Officer
Jay Prag
Cathy Roonev
'Ferry F. Tornek
Per Section 17 I.G.:
Elaine M. Winer
pph ant (I uer) Affirmation Date
CERTIFICATION OF COMPLIANCE
Project Name: SEASONS at Miraflores Affordable Housing
CDLAC Application No.: 01-212
Pursuant to Section 12 of Resolution No. 01-202 (the "Resolution"),
adopted by the California Debt Limit Allocation Committee (the
"Committee") on (12/19/2001),
1 Karen N. Maeshima, an Officer of the Project Sponsor, hereby
certify under penalty of perjury that, as of the date of this
Certification, the above mentioned Project is in compliance with all
of the terms and conditions set forth in the Resolution.
I further certify that I have read and understand Section 3 of the
Resolution, which specifies that once the Bonds are issued, the
terms and conditions set forth in Resolution shall be enforceable by
the Committee through an action for specific performance or any
other available remedy (as further explained in Section 12 of the
Resolution).
Signature of bfficer Date
y
Karen N. Maeshima
Printed Name of Officer
SVP/CFO
Title of Officer
Per Section 17 L-
aZ \txt AOL -7/
uer) Affirmation ate
CERTIFICATION OF COMPLIANCE
Project Name: SEASONS at Miraflores Affordable Housin
CDLAC Application No.: 01-212
Pursuant to Section 12 of Resolution No. 01-202 (the "Resolution),
adopted by the California Debt Limit Allocation Committee (the
"Committee") on (12/19/2001),
1 Karen N. Maeshima, an Officer of the Project Sponsor, hereby
certify under penalty of perjury that, as of the date of this
Certification, the above mentioned Project is in compliance with all
of the terms and conditions set forth in the Resolution.
I further certify that I have read and understand Section 3 of the
Resolution, which specifies that once the Bonds are issued, the
terms and conditions set forth in Resolution shall be enforceable by
the Committee through an action for specific performance or any
other available remedy (as further explained in Section 12 of the
Resolution).
ignature Offt r Dat
Karen Maeshima
Printed Name of Officer
Co-COO/CFO
Title of Officer
Per Section 17 I.G.:
ram'
pplicant ( sue ffirmation Date
� Nr, Ho u.s
555 E.Ocean Blvd, Suite 900
Lang Beach, CA 90802-5056
Telephone: 562.684.1100
Facsimile: 562,684,1 137
www.linchousing.org
SERVING
OUR
COMMUNITIES
THROUGH
HOUSING
CORPORATE OFFICERS
Rebecca F. Clark
President & CEO
Karen Maeshima
Sr. Vice President & CFO
Suny Lai, Chang
Sr. Vice President
Nina Dooley
Vice President
BOARD OF DIRECTORS
Mark A. Montoya
Chair
Cathy Rooney
Vice Chair
Paul M. ielowatka
Secretary
Terry E. Tornek
Treasurer
William A. Cipes
John Given
Tiena ohnson-hall
Tina Lock_lear
Roger A. Martinez
Jill McCullough
Jeffrey M. % index
Jodie NeMibery
Jennifer Orlick
M e I i sna, 1,e�1a
Jay Prag
lff-
U S. R :+t7.LLJ.L:eL V 1. AL
GROUP
Qwv/iryMutw%TySrMces
February 09, 2015
Re: Village at Beechwood
Pursuant to Section 13 of Resolution No. 02-30 (the "Resolution), adopted by the California Debt Limit
Allocation Committee (the "Committee") on, December 19, 2001, I, Simone Rojas, Compliance Specialist of
U.S Residential Group, hereby certify under penalty of perjury that, as of the date of this Certification, the
abovementioned Project is in compliance with all of the terms and conditions set forth in the Resolution.
"Q I C, [gb?s
Simone Rojas Compliance Specialist Date
Annual Applicant Public Benefits and Ongoing Compliance Self -Certification
"Self -Certification"'
ACKNOWLEDGMENT: The California Debt Limit Allocation Committee ("CDLAC" or "Committee") does
not expect to hold an Applicant (Issuer) responsible for. conditions they are not aware of; only for the
Applicant to confirm their understanding of the status of the project/program based upon their own
post -issuance compliance procedures. CDLAC will not review the Applicant's procedures, and in good
faith, will assume that the Applicant has in -place procedures they judge to adequately satisfy their post -
issuance responsibilities as defined under the Internal Revenue Code and CDLAC Regulations. An
Applicant is free to request project information from the Project Sponsor and rely on that information if
they believe it satisfies their own compliance procedures and responsibilities. That information can then
serve as the basis for the Applicant's response to the questions within this certification.
INSTRUCTIONS: Per the CDLAC Regulations, all Projects/Programs within an existing bond regulatory
period and/or CDLAC compliance period shall be monitored for compliance with the terms and
conditions of the Committee Resolution by the Applicant -(issuer). Mortgage Credit Certificate Single
Family Housing Programs with outstanding authority shall be monitored for the same requirements.
The Applicant shall complete and submit the Annual Applicant Public Benefits and On -going Compliance
Self Certification provided on the CDLAC website; certifying whether or not the Project/Program meets
the terms and conditions of the Committee Resolution. The self -certification must be submitted by the
Applicant to CDLAC no later than March 1 of each year (or at such other time as defined in the CDLAC
Regulations or requested by the Committee). This form will not be accepted if it has been altered in
anyway other than to answer the questions provided.
ALL APPLICANTS: Applicant/Issuer Certification of Delivery of Public Benefits
Applicant/Issuer Name: City of La Quinta Housing Authority (formerly La Quinta Redevelopment
Agency)
Project Name (N/A for Single Family Housing Programs): SEASONS at Miraflores Affordable Housing
Program Type_(QRRP, SFH, EXEMPT, IDB, Etc.): QRRP
Application Number (s): 01-212
Resolution Number(s): 01-202
Property Address (N/A for Single Family Housing Programs): 47747 Gertrude Way, La Quinta, CA
92253
Project Completion Date (NIA for Single Family Housing Program): If the depreciable assets and/or
project is "under rehabilitation or "under construction'; please note this and then respond to
questions 1 and 2.
Revision 5/21/14
Annual Applicant Public Benefits and Ongoing Compliance Self -Certification
"Self -Certification"
SECTION A:
All Applicants Must Complete:
1. To the best of your knowledge, have there been any changes to the ownership entity, principles
or property management of the project since the bonds were issued, or since the last
certification was provided? Please answer "Yes" or "No". If YES, please explain the change
below and attach a request to revise the resolution along with Attachment W-1, the legal status
questionnaire (Attachment Y) from the standard application along with an organizational chart
of the organizational structure noting all pertinent information regarding the change of
ownership. For changes to the property management company, please explain the change,'
attach a request to revise the resolution (if necessary), and include Attachment X from the
standard application.
lue
2. To the best of your knowledge, has there been a change of use for the project?
NO
Revision 5/21 /14
Annual Applicant Public Benefits and Ongoing Compliance Self -Certification
"Self -Certification"
SECTION B:
QRRP APPLICANTS ONLY: Applicant/Issuer Certification of Ongoing Compliance
(Please attach the project sponsor -completed Ceertification of Compliance form as provided
in the Committee Resolution)
1. To the best of your knowledge, has the project satisfied all of the requirements memorialized in
the Exhibit A of the Committee Resolution and bond regulatory agreement (i.e. qualifying
project completion;lqualifying depreciable asset purchase, qualifying loan originations, the use
of public funds, QRRP manager units, QRRP income rent restrictions, QRRP sustainable building
methods, etc.; as applicable), and thus achieving all public benefit requirements (excluding
QRRP service amenities) as presented to the Committee? (if there is more than one resolution
for this project the most recent resolution will supersede all previous resolutions)
a) As Issuer for the subject project, were you able to confirm to the satisfaction of your
current requirements that the defined public benefits were conveyed at the completion
of the development of the subject project?
N/A
b) If the public benefits have been confirmed, what evidence to the satisfaction of your
current requirements was received (i.e. invoices, contracts, agreements, rent rolls, on -
site audits, etc.)?
Rent rolls, resident services contract, CTCAC audits, and quarterly financials
c) When was the evidence provided to the Issuer, or a site visit completed, to confirm the
public benefits?
Financial rolls are sent to lender and trustee (Wells Fargo)
d) Is the project currently in compliance? If not, what corrective action was taken to bring
the project into compliance?
The project is currently in compliance. There has been no history of non-compliance.
CTCAC conducted -a site inspection and file review in April 2014,.with no findings.
e) For projects awarded an allocation post 2011, were the Minimum Sustainable Building
Standards achieved (within the scope of work completed)? If so, please provide the
third party evidence of completion (evidence must be provided within two years of
receiving the award of allocation).
N/A
Revision 5/21/14
Annual Applicant Public Benefits and Ongoing Compliance Self -Certification
"Self -Certification"
2. As captured in Exhibit A of the resolution, the QRRP project has committed to and is currently
providing the following service amenities for a minimum of ten years, on a regular and ongoing
basis, which are provided free of charge (with the exception of day care services):
Please check the services that apply or write N/A where appropriate. if necessary, please
modify the list below to reflect service amenity commitments as captured in the Exhibit A:
.After -school Programs
X Educational, health and wellness, or skill building classes
Health and Wellness services and programs (not group classes)
Licensed Childcare provided for a minimum of 20 hours per week (Monday -Friday)
X Bona -Fide Service Coordinator/ Social Worker
a) For this reporting period, what evidence (i.e. MOU's, contracts, schedules, calendars,
flyers, sign-up sheets, etc.) was provided to the satisfaction of your current
requirements to confirm that the above listed services. are being provided and have met
the requirements of Exhibit A of the Resolution?
- -- - — - - - -Rent rolls resident services contract;-CTCAC audits, -and -quarterly -financials -- -- - --
b) Is the project currently in compliance with all service amenity requirements? If all
compliance requirements were not met, what corrective action has been taken thus far?
Yes
Revision 5/21/14
Annual Applicant Public Benefits and Ongoing Compliance Self -Certification
"Self -Certification"
SECTION C:
INDUSTRIAL DEVELOPMENT BOND AND RECOVERY ZONE BOND APPLICANTS ONLY:
. Applicant/Issuer Certification of Post -Issuance Compliance (if applicable)
(Note: Once the job creation/retention goals have been achieved, no additional reporting for
this section is required by CDLAC in the subsequent annual certifications.)
1. As captured in Exhibit A of the Committee Resolution, the Applicant or Project Sponsor
reasonably expects a certain minimum number of new and/or retained jobs associated with the
project within two (2) years following the completion of that project:
Please provide the following information:
Number of Existing Jobs Originally Anticipated to be Retained
Number of New Jobs Originally Anticipated to be Created
Is the project complete?
No. STOP HERE (no additional reporting on this section is necessary until project
completion).
Yes. Please Complete the Following Information:
- -- - - --- --a)---What evidence -was -provided -to -confirm -that -the -above -listed jobs -were -retained and/or---
provided and that the project achieved the job creation/retention goals noted in Exhibit
A of the Committee Resolution?
b) Did the evidence received or observed meet your standards for compliance with the
applicable job creation/retention goals?
Revision 5/21 /14
Annual Applicant Public Benefits and Ongoing Compliance Self -Certification
"'Self -Certification"
SECTION D:
SINGLE FAMILY HOUSING APPLICANTS ONLY: The Applicant/Issuer is required to report to
CDLAC until the authority/bond proceeds have been exhausted.
1. To the best of your knowledge, has the program satisfied the requirements memorialized in
the Exhibit A of the Committee Resolution? If not, please explain.
2. Was the MCC authority/Were the bond proceeds exhausted by the IRS -required deadline?
If "Yes", no future Compliance Self -Certifications are required for this allocation. If "No",
please explain.
3. If the MCC authority/bond proceeds balance for this allocation award exceeds $1 million,
please provide the balance of the amount remaining along with an explanation of the
planned use of the authority/proceeds (i.e. rate of issuance, existing pipeline loans, etc.).
Revision 5/21 /14
Annual Applicant Public Benefits and Ongoing Compliance Self -Certification
"Self -Certification"
SECTION E:
QUALIFIED ENERGY CONSERVATION BONDS ONLY:
Applicant/Issuer Certification of Post -Issuance Compliance
To the best of your knowledge, has the program satisfied the requirements memorialized in
the Exhibit A of the Committee Resolution? Check the item that applies below, answer
"Yes" or "No", and provide any necessary third party documentation. If the requirement was
not satisfied please explain.
Did the program meet the energy consumption in publicly -owned buildings by 20
percent? Please attach the third party verification showing the improvement was met.
Did the program meet the estimated reduction in energy consumption measured by
Kilowatt Hours of Electricity per year? Please attach the third party verification showing the
reduction was achieved.
Did the program meet the estimated greenhouse gas emissions measured in MMTCO2e
(million metric tons of CO2 equivalent)?
Did the, program provide the estimated funding of grants and loans anticipated?
;Siginat re of Issu
Frank J. Spevacek
Printed Name of Issuer
Executive Director. La Quinta Housing Author!
Title of Issuer / Officer
Carla Triplett, Housing Program Coordinator
Contact Person
ctriplett@la-guinta.org
E-mail Address
760.777.7000
Phone number
760.777.7120
Phone number
Revision 5/21 /14