2018-11-28 (12) SRR Release Covenants (Golf Course Use) RecordedRECORDING REQUESTED BY,
AND WHEN RECORDED MAIL TO:
SilverRock Development Company, LLC
c/o The Robert Green Company
3551 Fortuna Ranch Road
Encinitas, California 92024
DOC # 2018-0464679
11/28/2018 03:02 PM Fees: $8.00
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
rve.&\_P.V t ')-`1 3 This document is exempt from the payment of a recording
Ftz Ca-r o-( -p-e 4-C 1-t°1 fee pursuant to Government Code Section 27383
RELEASE OF COVENANT AFFECTING REAL PROPERTY
(GOLF COURSE USE)
THIS RELEASE OF COVENANT AFFECTING REAL PROPERTY (GOLF COURSE
USE) (the "Release") by the CITY OF LA QUINTA, a California municipal corporation and charter
city (the "City"), in favor of SILVERROCK PHASE I LLC, a Delaware limited liability company
(the "Developer"), is dated as of ZS� day of 140V - , 2018.
RECITALS
A. Unless otherwise defined herein, the definitions of all terms contained in the PSDA
shall apply to this Release.
B. City and Developer have 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 the U day of , 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 as Exhibit "A" to the Grant
Deed (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.
C. 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 the 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.
D. Also pursuant to Amendment No. 2, City and Developer entered into and the City
caused to be recorded that certain Covenant Affecting Real Property (Golf Course Use) dated
May 3, 2017 and recorded November 6, 2017 as Document #2017-0189004 in the Official
Records of the County of Riverside, California (the "Golf Course Covenant"), which is binding
4833-7413-6696.3
DOC #2018-0464679 Page 2 of 7
upon and runs with the Phase 1A Property for the Planning Areas, Parcels and other real property
identified in the Golf Course Covenant.
E. Pursuant to Section 2.3 of the Golf Course Covenant, the Luxury Hotel Parcels (as
defined in the Golf Course Covenant and legally described on Exhibit "A" attached hereto), are
not required to be used as part of the Golf Course (as defined in the Golf Course Covenant) as
long as the Developer uses the Luxury Hotel Parcel in furtherance of the Golf Course Realignment
and development of the Luxury Hotel thereon pursuant to the PSDA. This Release is conclusive
determination of satisfactory completion of the construction and development of the Golf Course
Realignment required by the PSDA. This Release is requested to confirm the construction of the
Golf Course Realignment has been completed and to enable the development of the Luxury Hotel
Parcels pursuant to Amendment No. 3.
NOW, THEREFORE, City hereby certifies as follows:
1. The construction of the Golf Course Realignment (as that term is defined in the
Golf Course Covenant) by Developer on (i) Parcels 17, 18, 19 and 20 (collectively, the "Golf
Course Parcels" as defined in the Golf Course Covenant), (ii) Parcels A, B, C, D, E, F, and G
(collectively, the "Golf Course Access/Operations Parcels" as defined in the Golf Course
Covenant), (iii) Parcel 8 ("Permanent Golf Clubhouse Parcel" as defined in the Golf Course
Covenant), (iv) portions of Parcels 13, 14, 15, and 16 (collectively, the "Driving Range/Golf
Couse Parcels" as defined in the Golf Course Covenant) and (v) Parcels 3 and 4 (collectively,
the "Luxury Hotel Parcels" as defined in the Golf Course Covenant), as identified on Parcel Map
No. 37207 attached as Exhibit "B" of the Golf Course Covenant (the "Parcel Map"), has been
completed and , is in full conformance with the PSDA. Except for any liability which may have
accrued under the Golf Course Covenant prior to the date of this Release, the Golf Course
Covenant shall have no continuing or ongoing effect relative to the Luxury Hotel Parcels only, but
the Golf Course Covenant shall remain in full force and effect as to the Golf Course Parcels, Golf
Course Access/Operations Parcels, Permanent Golf Clubhouse Parcel and Driving Range/Golf
Couse Parcels. Any and all operating requirements, and all use, maintenance, and
nondiscrimination covenants, set forth in other documents executed and recorded pursuant to the
PSDA, including, but not limited to, the Golf Course Covenant, shall remain in effect and
enforceable according to their terms notwithstanding this Release.
2. Following the date of recordation of this Release, the Golf Course Covenant shall
be of no further force or effect with respect to the Luxury Hotel Parcels only. This Release shall
become affective upon the date of such recording.
3. This Release may be executed in two or more counterparts, each of which when
so executed and delivered shall be deemed an original and all of which, when taken together,
shall constitute one and same instrument.
[signatures on next page]
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DOC #2018-0464679 Page 3 of 7
IN WITNESS WHEREOF, City has executed this Release as of the date set forth above.
CITY:
CITY OF LA QUINTA, a California municipal
corooratiov and charter
By
Fri
ATTEST:
Monika Radev , City er c
APPROVED AS TO FORM:
RUTAN & TUCKER, LLC
William H. Ihrke, City Attorney
[signature page continues next page]
Manager
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DOC #2018-0464679 Page 4 of 7
APPROVED BY DEVELOPER:
SILVERROCK PHASE I, LLC, a Delaware
limited liability company
By: The Robert Green Company,
a California corporation
Its: Ma
Date: MQJ- Z(', , 2018 By:
Name: Robert S. Gr en, Jr.
Its: President and Chief Executive Officer
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DOC #2018-0464679 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 NUJ �� �, �g , before me, �'1�1N� 1�t F�t'�UIP/�A , ►"� �!�^�" C
(insert name and title of the officer) { 1
Notary Public, personally appeared �-(kl� S V
who proved to me on the basis of satisfactory evidence to bd the persono whose name is/aFe-
subscribed to the within instrument and acknowledged to me that he/sey-executed the same
in his/fte�r authorized capaci%i ' and that by his/her4heir signaturex on the instrument
the personK or the entity upon behalf of which the persons') 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 RADEVA
Notary Public - California
WITNESS my hand an official seal. i -. Riverside County Z
Z Commission #t 2168979 D
M Comm. Expires Oct 22, 2020
Signature (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)
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.
Signature.
(Seal)
-5-
4833-7413-6696.3
DOC #2018-0464679 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 Riverside&n b 1 ego JJJ
On �orember- -. ca 18 , before me, lidpa (- , Lo4(R. A66 hm iPubl,'t
Notary Public, personally appeared KO�_r4 off, 1'�L�/']s(iVrrt nan4E and Utle of the of ler)
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.
DIANA L. LYTLE
WITNESS m hand and official seal. - Notary Public - California
y .';�„ � San Diego County _
Commission # 2160643
My Comm. Expires Aug 19, 2020
Signature (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)
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.
Signature
(Seal)
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DOC #2018-0464679 Page 7 of 7
EXHIBIT A
LEGAL DESCRIPTION
LUXURY HOTEL PARCELS:
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 3 AND 4 OF PARCEL MAP NO. 37207 PER MAP FILED 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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