2015 RREF II-CWC LaQ, LLC - Payment of Transfer Fee RequiredTO:
VIA:
FROM
DATE:
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MEMORANDUM
Frank J. Spevacek, City Manager
Les Johnson, Community Development Director
Monika Radeva, Executive Secretary Ra a °` ^,g _O
March 25, 2015 R a&Ag
RE: RREF II — CWC LaQ, LLC. Payment of Transfer Fee Required Agreement
Attached for your signature is a Payment of Transfer Fee Required Agreement between
the City of La Quinta and RRFE II — CWC, LaQ, LLC. (assumed from Crowne Pointe
Partners, LLC.) for The Signature at PGA West project (formerly Eden Rock) requiring
each owner to pay the City a Transfer Payment of 0.55% of the sales price for each unit
(APN: 775-220-021).
Please sign and return both originals to the City Clerk for final distribution.
Requesting department shall check and attach the items below as appropriate:
N/A A Conflict of Interest Form 700 Statement of Economic Interests from Consultant(s) is attached with
no reportable interests in LQ or reportable interests
N/A A Conflict of Interest Form 700 Statement of Economic Interests is not required because this Consultant does
not meet the definition in FPPC regulation 18701(2).
Authority to execute this agreement is based upon:
X Approved by the City Council on _ 04/15/2008 date
City Manager's signature authority provided under Resolution No. 2005-095
Public Works projects for $30,000 or less.
City Manager's signature authority provided under Resolution No. 2005-096
Service agreements for $30,000 or less.
City Manager's signature authority provided under Contract Change Order Policy
Contracts under $100,000= 10% max, contracts over $100,000= $25,000 max
The following required documents are attached to the agreement:
N/A Insurance certificates as required by the agreement (initialed by Risk Manager on date)
N/A Performance bonds as required by the agreement (originals)
N/A City of La Quinta Business License (copy or note number & expiration date here_)
DOC # 2015-0126317
03/30/2015 01:52 PM Fees: $30.00
Page 1 of 6
Recorded in Official Records
County of Riverside
Peter Aldana
Assessor, County Clerk & Recorder
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
**This document was electronically submitted
Clty of La Quinta to the County of Riverside for recording —
City by: MABRERA
78-495 Calle Tampico
La Quinta, CA 92253
Attn: City Manager
(Space Above This Line for Recorder's Office Use Only)
(Exempt from Recording Fee per Gov. Code § 27383)
PAYMENT OF TRANSFER FEE REQUIRED
Important notice to owners, purchasers, tenants, lenders, brokers, escrow and title
companies, and other persons: A document imposing a requirement to pay a transfer
payment (a "Transfer Payment") has been recorded with respect to the property described
below (referred to in this instrument as the "Property").
Current Owner of Property Subject to CC&Rs: RREF II — CWC LaQ, LLC, a
California limited liability company (the "Developer').
Title of Document Containing Transfer Payment Obligations: Declaration of
Covenants, Conditions, and Restrictions (hereafter, "CC&Rs"), entered into by and between the
City of La Quinta, a California municipal corporation and charter city organized and existing
under the Constitution of the State of California ("City"), and Developer. The CC&Rs are
recorded concurrently with this instrument, in the official records of Riverside County. The
CC&Rs contemplate that the Developer will develop the Property into a resort containing two
hundred thirty (230) units (each, a "Unit"), and that each of the Units will be sold to individual
third party purchasers (each, an "Owner").
Legal Description of Property: See Exhibit "A" attached hereto and incorporated
hefein by this reference.
I
Assessor's Parcel Number of Property: 775-220-021.
Amount of Transfer Payment: The Transfer Payment amount is .55 of one percent
(.55%) of the Owner's actual sales price for his or her Unit, with the amount of such sales price
verified by the City. For example, if the sales price is $500,000, then the Transfer Payment will
be $2,750; and if the sales price is $700,000, then the Transfer Payment will be $3,850.
Date Transfer Payment Requirement Expires: The Transfer Payment requirement
has no expiration date and runs with the land, in perpetuity.
Purpose of Transfer Payment and Entity to which Payment is Paid: The purpose of
the Transfer Payment is to compensate the City for loss of "Transient Occupancy Tax" (as that
term is defined in Chapter 3.24 of the La Quinta Municipal Code resulting from development of
the Property as a resort and not a traditional hotel. All Transfer Payments are to be paid to the
City, and sent to:
882;015610-0096
799454.11 a02,26. 15
DOC #2015-0126317 Page 2 of 6 03/30/2015 01:52 PM
City of La Quinta
78-495 Calle Tampico
La Quinta, CA 92253
Attn: Finance Director
This instrument does not contain a full description of the details of all of the terms and
conditions of the CC&Rs. You are hereby notified to read the CC&Rs to fully understand the
Transfer Payment requirements which apply to the Property, and the individual Units to be
developed thereon.
This instrument is being recorded and filed in compliance with Civil Code Section
1098.5.
[End — Signature page follows]
882/015610-0096
799454.1] a02/26/15 -2-
ATTEST:
City Clerk , Susan M els
APPROVED AS TO FORM
RUTAN & TUCKER, LLP
Allison LaMoine-Bui
Deputy City Attorney
La Quinta, California
"CITY"
CITY OF LA QUINTA,
a Calif i municipal on
BY=
Frank h �pevacek ity Manager
City of La Quinta, California
882/015610-0096
8142850 1 a02/26/15 -3-
NOTARY ACKNOWLEDGMENT
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 March '2-6 . 2015 before me, SUSAN MAYSELS, Notary Public, personally appeared
FRANK J. SPEVACEK 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 executed the same in his authorized capacity, and that by his 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.
SUSAN-MOSELS
WITNESS my hand and official seal.z
Commission #► 2017258
; Notary Public - California s
Rivlrside County
M Comm- Expires* A r 13, 2017
Signature:
(notary seal)
DOCUMENT:
PAYMENT OF TRANSFER FEE REQUIRED re: APN 775-220-021, owner: RREF II —
CWC LaQ, LLC.
DOC #2015-0126317 Page 5 of 6 03/30/2015 01:52 PM
EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
TRACT NO, 36537-1 AS SHOWN BY MAP ON FILE IN BOOK 442 AT PAGES 55 THROUGH
63, INCLUSIVE OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA ("TRACT NO.
36537-1"), EXCLUDING THEREFROM LOTS 97 AND T OF TRACT NO. 36537-1, AND
TRACT NO. 36537-2 AS SHOWN BY MAP ON FILE IN BOOK 443 AT PAGES 38 THROUGH
43, INCLUSIVE OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA ("TRACT NO.
36537-2")
8821015610.00%
799454.11 a02,26/15 -5-
DOC #2015-0126317 Page 6 of 6 03/30/2015 01:52 PM
CONSENT TO RECORDATION
RREF II -- CWC LaQ, LLC, a California limited liability company ("Developer"), owner of the fee
interest in the real property legally described in Exhibit "A" hereto, hereby consents to the
recordation of the foregoing Payment of Transfer Fee Required against said real property.
RREF 11 — CWC LaQ, LLC, a California limited
liability company
By: California West Construction, Inc.,
a California corporation, Its Authorized
Agent � 4
By.
Donald W, Fant resident
A notary public or other officer completing this
certificate verified 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 )
} ss.
COUNTY OF San Diego }
On March 4. , 2015, before me, M K Stuckey-
-Notary Public, personally appeared Donald W. Fontana
, who proved to me on the basis of satisfactory evidence to be the
person(�) whose name( is/aN subscribed to the within instrument and acknowledged to me
that hels4e/thi*/executed the same in his/4rlt it authorized capacity(i4o) and that by
his/h,kr/til it signatureN) on the instrument the pers%n(�), or the entity upon behalf of which the
person() acted,
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.
M. K. STUCKEY
Commission # 1933217
a (OlAy
Notary Public - California z
San Diego County D
Comm. Expires May 15, 2015 y
Notary Public
8821,OI5610-0096
799454.11 a02i V15 -6-