2018-11-28 (04) SRR Amend Grant Deed Phase 1A (PSDA Amend 3) DOC # 2018-0464670I—iVvi V v..J rs
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RECORDING REQUESTED BY,
MAIL TAX STATEMENTS TO
AND WHEN RECORDED MAIL TO:
SilverRock Development Company, LLC
c/o The Robert Green Company
3551 Fortuna Ranch Road
Encinitas, California 92024
DOC # 2018-0464670
11/28/2018 03:02 PM Fees: $0.00
Page 1 of 7
Recorded in Official Records
County of Riverside
Peter Aldana
Assessor -County Clerk -Recorder
"This document was electronically submitted
to the County of Riverside for recording—
Receipted by: TERESA #134
This document is exempt from payment of a recording fee
pursuant to Government Code Section 27383
AMENDMENT TO GRANT DEED
(Phase — 1A Property — PSDA Amendment No. 2)
THIS AMENDMENT TO GRANT DEED (Phase — 1A Property — PSDA Amendment No.
2) (this "Amendment") is entered into by and between The CITY OF LA QUINTA, a California
municipal corporation and charter city (the "City"), and SILVERROCK DEVELOPMENT
COMPANY, LLC, a Delaware limited liability company ("Developer").
For and in consideration of the mutual covenants and conditions herein set forth, the City
and the Developer hereby agree as follows:
1. This Amendment is made to GRANT DEED (Phase — 1A Property — PSDA
Amendment No. 2) dated May 3, 2017 and recorded November 6, 2017 as Document #2017-
0463950 in Official Records of the County of Riverside, California (the "Grant Deed"), wherein the
City granted to Developer, that certain real property hereinafter referred to as the "Phase 1A
Property," described in Exhibit A, attached hereto and incorporated herein, subject to the existing
easements, restrictions, covenants of record described in the Grant Deed.
2. The Phase 1A Property was conveyed in accordance with and subject to the
Redevelopment Plan for the La Quinta Redevelopment Project Area No. 1 ("Redevelopment
Plan") which was approved and adopted by Ordinance No: 43, on November 29, 1983, of the City
Council of the City of La Quinta, and a Purchase, Sale, and Development Agreement entered into
between City and Developer dated November 19, 2014 ("Original PSDA"), as amended by
Amendment No. 1 to Purchase, Sale and Development Agreement dated October 29, 2015
("Amendment No. 1 ") and by Amendment No. 2 to Purchase, Sale and Development Agreement
dated on or about April 18, 2017 ("Amendment No. 2") (collectively, the "PSDA").
3. Subsequent to the date of the Grant Deed, the PSDA was further amended by
Xendment No. 3 to Purchase, Sale and Development Agreement dated on or about November
2018 ("Amendment No. 3")
4. In connection with Amendment No. 3, Developer and City desire to amend the
Grant Deed.
5. Section 2 of the Grant Deed is hereby amended to revise the definition of the term
"PSDA" to read as follows:
"Purchase, Sale, and Development Agreement entered into between City
and Developer dated November 19, 2014 ('Original PSDA'), as amended
by Amendment No. 1 to Purchase, Sale and Development Agreement
dated October 29, 2015 ('Amendment No. 1') and by Amendment No. 2 to
4824-7113-94452
DOC #2018-0464670 Page 2 of 7
Purchase, Sale and Development Agreement dated on or about April 18,
2017 ('Amendment No. 2') and by Amendment No. 3 to Purchase, Sale and
Development Agreement dated on or about November _, 2018
('Amendment No. 3) (collectively, and as may be further amended, the
'PSDA')"
6. Section 4 of the Grant Deed is hereby amended and restated to read in its entirety
as follows:
"Restrictions on Transfer. Developer further agrees that, except as
permitted or approved by City pursuant to Section 603 of the PSDA, (i) no
voluntary or involuntary successor in interest of Developer shall acquire
any rights or powers under the PSDA or this Grant Deed, nor shall
Developer make any total or partial sale, transfer, conveyance,
assignment, subdivision, refinancing or lease of the whole or any part of
the Phase 1A Property or the Phase 1A Project thereon, and (ii) Developer
shall retain full managerial and operational control of the Phase 1A Project.
The restrictions set forth in this Section 4 shall automatically terminate (1)
as to any individual residential dwelling unit that has been sold and
transferred to a buyer pursuant to the terms of the PSDA, and (II) as to any
Project Component (as that term is described in Section 100 of the Original
PSDA) for which City has recorded a Release of Construction Covenants
(as that term is described in Section 100 of the original PSDA), substantially
in the form of Attachment No. 8 to the PSDA, with no further action required
of City or Developer."
7. Section 10 of the Grant Deed is hereby deleted in its entirety.
8. The Grant Deed shall remain in full force and effect, with only such
supplementation and changes as are expressly set forth in this Amendment.
9. This Amendment may be executed in counterparts and when so executed, each
such counterpart will constitute an original document and such counterparts will constitute one
and same instrument.
[signatures on next page]
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DOC #2018-0464670 Page 3 of 7
Date: , 2018
CITY:
CITY OF LA QUINTA, a California municipal
cornecation and charter. ei
�r" lL a. 5PeJA.Ce (
ATTEST:
vl�r"b7 -
City Clerk
APPROVED AS TO FORM:
RUTAN & TUCKER, LLP
4/j-
William H. Ihrke
City Attorney
[signatures continue on next page]
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DOC #2018-0464670 Page 4 of 7
Date: NOU. /W , 2018
DEVELOPER:
SILVERROCK DEVELOPMENT COMPANY, LLC,
a Delaware limited liability company
By: The Robert Green Company,
a California corporation
Its: M
17-
By:
Name: Robert S. Gree , Jr.
Its: President and Chief Executive Officer
4824-7113-9445.2
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DOC #2018-0464670 Page 5 of 7
A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or
validity of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On N4Ve M'bQ4,- -1, IC19 , before me AO V� i U`P/1%R �� Cut\ \W�C.
(insert name and title of the officer) V
personally appeared . �Jt�211OLUV, , who 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/ktw 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.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and fficial seal.
Signature
MONIKA RADEVA
Notary Public - Caiifornia Z
-� Riverside County z
i Commission * 2168979
My Comm. Ex ices Oct 22, 2020
(Seal)
A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or
validity of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On , before me
(insert name and title of the officer)
personally appeared , who 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.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
Signature
(Seal)
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4824-7113-94452
DOC #2018-0464670 Page 6 of 7
A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or
validity of that document.
STATE OF CALIFORNIA
COUNTY OF RMERSt@E Id DIES
On 1\10yemb& before meDi
D cc /� (insert name ar44itle cif the offlcW
personally appeared ^ 0uA os , cor"�n J'r— , who 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.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal
4t,j,,� (y (jMt L-eA=
Signature
*My
DIANA L. LYTLE
Notary Public - CaliforniaSan Diego CountyCommission # 2160643 Comm. Expires Aug 19, 2020
(Seal)
A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or
validity of that document.
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE
On before me ,
(insert name and title of the officer)
personally appeared , who 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.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
Signature
(Seal)
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DOC #2018-0464670 Page 7 of 7
EXHIBIT A
LEGAL DESCRIPTION
PHASE 1 A PROPERTY:
Those portions of Sections 5, 6 and 8 Township 6 South, Range 7 East, San Bernardino
Meridian, in the City of La Quinta, County of Riverside, State of California, described as follows:
Parcels 1, 3, 4, 5, and 6 of Parcel Map No. 37207 in the City of La Quinta, County of Riverside,
State of California, per map filed May 3, 2017 in Book 242, Pages 72 through 87, inclusive, of
Parcel Maps, in the office of the County Recorder of Riverside County, State of California.
EXHIBIT A
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