2018-11-07 (00) Transmittal Letter - SRR PSDA Amend No. 3
November 8, 2018
Ms. Samantha Maestas, Commercial Escrow Officer
Fidelity National Title, National Title Services
4370 La Jolla Village Drive, Suite 240
San Diego, California 92122
Re: Escrow No. 30019421 – 005 SM1
Amendment No. 3 to Purchase, Sale, and Development Agreement
(November 7, 2018) between the City of La Quinta, a California charter city
and municipal corporation (“City”) and SilverRock Development Company,
LLC, a Delaware limited liability company (“SRDC”) and related documents
Dear Ms. Maestas,
Enclosed are the following Closing Documents executed by the City of La Quinta:
Escrow Documents:
Seller Settlement Statement
Substitute Form 1099-S
Real Estate Withholding Certificate 593-C
General Provisions
Non-Recordable Documents:
1. One (1) original Amendment No. 3 to Purchase, Sale and Development Agreement
by and between City and SRDC (the “Amendment No. 3”) executed City.
2. One (1) original Agreement to Share Transient Occupancy Tax Revenue (Lifestyle)
(“TOT Revenue Share Agreement”) by and between City and SilverRock Phase I,
LLC, a Delaware limited liability company (“SRP”) executed by City.
Recordable Documents:
3. One (1) original Declaration of Conditions and Reservation of Easements (“Reserved
Easement”) by the City executed and acknowledged by the City.
4. One (1) original Amendment to Grant Deed (Phase 1A- PSDA Amendment No. 2) (the
“Grant Deed Amendment”) by and between City and SRDC and executed and
acknowledge by City.
5. One (1) original Amended and Restated Agreement Containing Covenants,
Conditions, And Restrictions Affecting Real Property (Luxury Hotel) (“Amended and
Restated TOT Covenant (Luxury Hotel)” by and between City and SRDC executed
and acknowledged by City.
6. One (1) original Amendment to Memorandum of Purchase, Sale and Development
Agreement (Phase 1A Property- PSDA Amendment No. 2) (“Amendment to Memo
of PSDA”) by and between City and SRDC executed and acknowledged by City.
7. One (1) original Grant Deed (Phase 1B) (“Grant Deed (Phase 1B)”) by and between
City and SRP executed and acknowledged by City.
8. One (1) original Memorandum of Purchase, Sale and Development Agreement (Phase
1B Property – PSDA Amendment No 3) (“Memo of PSDA (Phase 1B)”) by and
between City and SRP executed and acknowledged by City.
9. One (1) original Option Agreement (Phase 1A Property & Phase 1B Property
(excluding Planning Areas 7, 8, & 9)) and Termination of Prior Phase 1A Option
Agreement (“Option Agreement (Phase 1A/1B)”) by and between City and SRP
executed and acknowledged by City.
10. One (1) original Option Agreement (Phase 1B Property - PA 7, 8, & 9) (“Option
Agreement (PA 7, 8, 9)”) by and between City and SRP executed and acknowledged
by City.
11. One (1) original Agreement Containing Covenants, Conditions, And Restrictions
Affecting Real Property (Lifestyle Hotel) (“TOT Covenant (Lifestyle Hotel))” by and
between City and SRP executed and acknowledged by City.
12. One (1) original Release of Covenant Affecting Real Property (Golf Course Use)
(“Release”) by City and approved by SRP executed and acknowledged by City.
13. One (1) original Grant of Easement and Agreement (“Grant of Easement”) by and
between SRP and City executed and acknowledged by City.
14. One (1) original Assignment and Assumption Agreement by and between SRDC and
SRP (“Assignment and Assumption”) with Consent signed by City.
Sincerely,
Monika Radeva, City Clerk
Tel: (760) 777 – 7035
Email: MRadeva@LaQuintaCA.gov