z2005 Senior Affordable Housing Corp - Release of Construction Covenants (Rev. 9/12/2005)PLEASE COMPLETE THIS INFORMATION
RECORDING REQUESTED BY:
JUNE S. GREEK, City Clerk
AND WHEN RECORDED MAIL TO:
CITY OF LA QUINTA
Attn: June Greek
P. 0. Box 1504
La Quinta, CA 92247-1504
DOC " 2005-0504697
06/24/2005 08:00A Fee:11.00
Page 1 of 6
Recorded in Official Records
County of Riverside
Larry W. Ward
Assessor, County Clerk & Recorder
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RELEASE OF CONSTRUCTION COVENANTS
Senior Affordable Housing Corp. No. 3
Hadley Villas
Title of Document
THIS AREA FOR
RECORDER'S
USE ONLY
THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
0 a
RECORDED AT THE REQUEST OF
AND WHEN RECORDED RETURN TO:
LA QUINTA REDEVELOPMENT AGENCY
78495 Calle Tampico
La Quinta, California 92253
Attn: Executive Director
(SPACE ABOVE THIS LINE FOR RECORDER'S USE)
This Release of Construction Covenants is recorded
at the request and for the benefit of the La Quinta
Redevelopment Agency and is exempt from the
payment of a recording fee pursuant to Government
Code Section 6103.
RELEASE OF CONSTRUCTION COVENANTS
WHEREAS, SENIOR AFFORDABLE HOUSING CORP. NO. 3, a California nonprofit
public benefit corporation ("Developer"), is the owner in fee of that certain real property more
particularly described in the legal description attached hereto as Exhibit "A" (the "Property");
and
WHEREAS, by a Disposition and Development Agreement (the "Agreement") dated
-October 15 , 2002, by and between Developer and the La Quinta Redevelopment Agency, a
public body, corporate and politic ("Agency"), Developer has developed the Property according
to the terms and conditions of said Agreement; and
WHEREAS, pursuant to Section 306 of the Agreement, promptly after completion of all
construction work to. be completed by Developer on the Property, Agency shall furnish
Developer with a Release of Construction Covenants upon written request therefor by
Developer, and
WHEREAS, the issuance by Agency of this Release of Construction Covenants shall be
conclusive evidence that Developer has complied with the terms of the Agreement pertaining to
the development of the Property; and
WHEREAS, Developer has requested that Agency furnish Developer with this Release of
Construction Covenants; and
WHEREAS, Agency has determined that the development of the Property has been
satisfactorily completed as required by the Agreement.
538/015610-0047
247806.06 PM02
NOW, TIEREFORE:
1. As provided in the Agreement, Agency does hereby certify that
development of the Property has been fully and satisfactorily performed and completed, and that
such development is in full compliance with said Agreement.
2. This Release of Construction Covenants shall not constitute evidence of
compliance with or satisfaction of any obligation of Developer to any holder of a mortgage, or
any insurer of a mortgage, securing money loaned to finance construction work on the Property,
or any part thereof. Nothing contained herein shall modify in any way any other provision of
said Agreement.
3. This Release of Construction Covenants shall not constitute evidence of
Developer's compliance with those covenants in the Agreement that survive the issuance of this
Release of Construction Covenants, or of the covenants in the Regulatory Agreement and
Declaration of Covenants and Restrictions recorded on August 1 , 2004 as Instrument No.
2003-627956 in the Official Records of Riverside County.
4. This Release of Construction Covenants is not a Notice of Completion as
referred to in California Civil Code Section 3093.
IN WITNESS WHEREOF, Agency has executed this Release of Construction Covenants
as of this Y' day of , 2005
LA QUINTA REDEVELOPMENT AGENCY, a
pub ' ody orporate7and�politi
By:'
Its:
CONSENT TO RECORDATION
On behalf of SENIOR AFFORDABLE HOUSING CORP. NO. 3, a California nonprofit
public benefit corporation, I hereby consent to the recordation of this Release of Construction
Covenants against the Property described herein.
Dated: 6• Qa. 0,5
a
Its:
H ,,USING CORP. NO.
zblic benefit corporation
V�
$38/015610-0047 y�
247806.06 PM02 -2-
EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
That certain property located in the City of La Quinta, County of Riverside, State of
California, described as follows:
LOT 285 OF TRACT NO. 24230, IN THE CITY OF LA QUINTA, COUNTY
OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN
BOOK 214, PAGE(S) 69 THROUGH 82, INCLUSIVE, OF MAPS, IN THE
OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
538/015610-M7
247906.06 PM02 eL--,
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
}
ss.
)
On June 2, 2 0 0 5 , before me, Linda Wreede , personally
appeared Benjamin F . Beckler . personally known to me (or
proved to me on the basis of satisfactory evidence) to be the person whose name(s) is/
subscribed to the within instrument and acknowledged to me that he/swwy executed the same
in his*/tWr authorized capacity(i , and that by hisAVr/tbWr signature(A) on the instrument
the personoo or the entity upon behalf of which the personM acted, executed the instrument.
Witness my hand and official seal.
i Lit. �i'1 C'�' L-��
No lic
[SEAL) LINDA WREEDE
41
Commission #1 1521900
Notary KAft - CaNtomia
Los An"Im County
My Comm. Ex0a Oct 24. 20
STATE OF CALIFORNIA )
LOS ANGELES ) ss.
COUNTY OF )
On June 2, 2005 , before me, Linda Wreede personally
appeared S a I l y Little personally known to me (or
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 11�/she/th* executed the same
in **/her/tWr authorized capacity(ks), and that by */hedthWr signature(h) on the instrument
the person(lo or the entity upon behalf of which the person(,) acted, executed the instrument.
[SEAL]
Witness my hand and official seal.
UNDA WREEDE
Commluton # 1521900
Nokwy Public - C0111bow
LOS Angeles County
'COMM. Expkes Oct 24. 20
1
Notary Pu lic
5-IMIS610.0047
247M.06 PM02 -3- `Z✓
STATE OF CALIFORNIA 1
COUNTY OF RIVERSIDE ) ss.
CITY OF LA QUINTA )
On June 8, 2005 , before me, Regenia Hensley, Notary Public, personally
appeared THOMAS P. GENOVESE personally known to me 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.
WITNESS my hand and official seal
RE NIA HENSLEY
Notary Public
Commission # 1521423
Expiration: October 23, 2008
(Seal)
Type of Document: Release of Construction Covenants
Company: Senior Affordable Housing Corp #3 Hadley Villas