2018-11-28 (06) SRR Amend Memo PSDA Phase 1A (Amend 3) Recorded360112b •54
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Attn: City Manager
DOC # 2018-0464672
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
Ckzr` q-�- &G a "I3 S�. (Space Above For Recorder's Use)
This Amendment to Memorandum of Purchase,
Sale, and Development Agreement is recorded
at the request and for the benefit of the City of La
Quinta and is exempt from the payment of a
recording fee pursuant to Government
Code § 27383.
AMENDMENT TO MEMORANDUM OF PURCHASE, SALE, AND DEVELOPMENT
AGREEMENT
(Phase 1A Property — PSDA Amendment No. 2)
This AMENDMENT TO MEMORANDUM OF PURCHASE, SALE, AND DEVELOPMENT
AGREEMENT ("Amendment") is entered into this day of N00d , 2018, by and
between the CITY OF LA QUINTA, a California municipal corporation and charter city ("City"),
and SILVERROCK DEVELOPMENT COMPANY, LLC, a Delaware limited liability company
("Developer").
This Amendment is made with reference to the following:
1. City and Developer entered into that certain Purchase, Sale, and Development
Agreement 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") and by Amendment No. 3 to Purchase, Sale, and
Development Agreement dated on or abouti�4)etebcr 2l', 2018 ("Amendment No. 3")
(collectively, and as may be further amended, the "PSDA"), which provides for (i) City to sell to
Developer that certain real property located in the City of La Quinta, County of Riverside, State of
California, more particularly described in the legal description attached hereto as Exhibit "A" and
incorporated herein by this reference (the "Phase 1A Property" as defined in Amendment No.
2), and (ii) Developer to develop and operate on the Phase 1A Property a commercial
development with one luxury hotel with associated branded luxury residential units, a conference
and shared service facility, and related amenities as more particularly described in the PSDA.
The definitions of all terms contained in the PSDA shall apply to this Memorandum.
2. Pursuant to Amendment No. 2, City conveyed the Phase 1A Property to Developer
by 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"), subject to the existing easements, restrictions,
covenants of record described in the Grant Deed
"W-em her
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DOC #2018-0464672 Page 2 of 7
3. Pursuant to the PSDA, on or about the date of the Grant Deed, City and Developer
entered into that certain Memorandum of Purchase, Sale, and Development Agreement (Phase
1A Property — PSDA Amendment No. 2) ( the "Memorandum"), recorded November 6, 2017 as
Document #2017-0463953 in the Official Records of the County of Riverside to provide notice to
all persons of the existence of PSDA with respect to the Phase 1A Property and to cause the
PSDA to run with the Phase 1A Property and be binding on Developer and Developer's
successors -in -interest as to the Phase 1A Property.
4. In connection with Amendment No. 3, Developer and City desire to amend the
Memorandum
5. Notwithstanding anything to the contrary contained in the PSDA, with respect to
any portion of the Phase 1A Property as to which the City has recorded a Release of Construction
Covenant, the Memorandum shall automatically terminate as to the released property only and
there shall be no requirement to amend or modify the Memorandum. However, at the request of
Developer, City shall record a quitclaim or termination document sufficient to remove the
Memorandum from the released property.
6. This Amendment may be executed in several counterparts, and all so executed
shall constitute one agreement binding on both parties hereto, notwithstanding that both parties
are not signatories to the original or the same counterpart.
[signatures on next page]
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DOC #2018-0464672 Page 3 of 7
IN WITNESS WHEREOF, City and Developer hereby execute this Amendment as set
forth herein.
CITY:
CITY OF LA QUINTA, a California municipal
corporation and charter cilty.
Date: 20_L&
ATTEST:
t i
MONIKA RADEV , City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
RUTAN & TUCKER, LLP
Wil iam H. Ihrke
City Attorney
[signatures continue on next page]
na er
rL -a-. *eVAQ-4
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DOC #2018-0464672 Page 4 of 7
"DEVELOPER"
SILVERROCK DEVELOPMENT COMPANY,
LLC, a Delaware limited liability company
By: The Robert Green Company,
a California corporation
Its: Manager
By:
Name: Robert S. een, Jr.
Its: President and Chief
Executive Officer
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DOC #2018-0464672 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
validit of that document.
STATE OF CALIFORNIA
COUNTY OF KA1IMV-6 &
On g , before me, ��V��C�r F'Tt(T"a Notary
appeared FR-RNK- . S i?.JAE;Q-<<—
Public, personally pp ,who proved to me
on the basis of satisfactory evidence to be the pers n(4 whose name(4 is/are subscribed to the
within instrument and acknowledged to me that he/she/they executed the same in his/13erkheir
authorized capacity, and that by his/helltheir-signaturexon the instrument the personk4, or
the entity upon behalf of which the person'-K 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. MONIKA RaoEva
Notary Public - California
WITNESS my hand and official seal. i Riverside County
Commission # 2168979
My Comm. Expires Oct 22, 2020
,4��4 ---------------
Name: MOvc. " i}
Notary Public
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
On before me, Notary
Public, personally appeared , who proved to me
on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the
within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
I certify UNDER PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Name:
Notary Public
-5-
4847-1485-7333.2
DOC #2018-0464672 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 U J NE6.4
On NoY t Y , before me,' t Notary
Public, personally appeared d3 Eza S , e who proved to me
on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the
within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
I certify UNDER PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
f DIANA L. LYTLE .
Notary Public . California
San Diego County > Name: I t
Commission # 2160643 Nota Public
My Comm. Expires Aug 19, 2020 ry
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
On , before me, Notary
Public, personally appeared , who proved to me
on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the
within instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
I certify UNDER PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Name:
Notary Public
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EXHIBIT "A"
LEGAL DESCRIPTION OF THE PHASE 1A PROPERTY
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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