2024-04-17 SDC - NOTICE of DEFAULT by City Under PSDA Amend 5.�� Ottigra
CAI IFORNIA -
April 17, 2024
VIA E-MAIL AND
REGISTERED FIRST CLASS MAIL
RETURN RECEIPT REQUESTED
SilverRock Development Company, LLC
c/o The Robert Green Company
3551 Fortuna Ranch Road
Encinitas, CA 92024
Attention: Robert Green
Re: Notice of Default of Purchase, Sale, and Development Agreement
Dear Mr. Green:
As public records reflect, the City of La Quinta ("City") and SilverRock Development Company, LLC ("Developer"
or "SDC"), entered into a Purchase, Sale, and Development Agreement on or about November 19, 2014
("Original PSDA"), as amended by that certain Amendment No. 1 to PSDA dated on or about October 29, 2015
("Amendment No. 1"), that certain Amendment No. 2 to PSDA dated on or about April 18, 2017 ("Amendment
No. 2"), that certain Amendment No. 3 to PSDA dated on or about November 28, 2018 ("Amendment No. 3"),
that certain Amendment No. 4 dated on or about October 12, 2021 ("Amendment No. 4") and that certain
Amendment No. 5 dated on or about November 16, 2023 ("Amendment No. 5" and collectively referred to as the
"PSDA") for the SilverRock Resort Project, renamed Talus project (the "Project"). Under Amendments Nos. 4
and 5, the Developer and City memorialized the City -approved Revised Capitalization that was then presented
to the City by Developer.
On December 7, 2023, First American Title Insurance Company ("Trustee") recorded in the Riverside County
Official Records ("Recorder's Office") that certain IMPORTANT NOTICE / NOTICE OF DEFAULT AND
ELECTION TO SELL UNDER DEED OF TRUST, recorded as Document No. 2023-0363986 (the "Trustee's
Default Notice"), a copy of which is attached to this Notice of Default. The Trustee's Default Notice was caused
to be recorded by Cypress Point Holdings, LLC ("Cypress") c/o Michelman & Robinson, for a delinquent payment
specified therein, secured by that certain Second Deed of Trust And Fixture Filing With Assignment of Rents
dated 11/18/2022, executed by Developer in favor of Cypress and recorded on November 30, 2022 as Document
No. 2022-0486431 (the "Cypress Deed of Trust").
Additionally, on April 17, 2024, Cypress caused to be recorded and delivered that certain NOTICE OF
TRUSTEE'S SALE recorded by the Trustee as Document No. 2024-0111080 (the "Trustee's Notice of Sale"),
setting a public auction date of sale for May 16, 2024, at 9:30 a.m. A copy of the Trustee's Notice of Sale is also
attached to this Notice of Default.
CALIFORNIA -
The Cypress Deed of Trust is recorded against and secured by certain real property that is part of the Project
and designated locations and construction sites for "Core Project Components" as defined in Recital K of
Amendment No. 5. With the recording and delivery of the Trustee's Notice of Sale, which expressly notices a
date of sale for the real property secured by the Cypress Deed of Trust, Developer is and will remain unable to
perform its obligations under the PSDA; specifically, Developer is and will be unable to perform in accordance
with the City's approved financing for the Project as authorized under Section 211 of the Original PSDA and
most recently updated in Amendment No. 5, unless and until the obligation secured by the Cypress Deed of
Trust is satisfied and the Trustee's Default Notice and Trustee's Notice of Sale is removed from record title.
Default and Cure
YOU ARE HEREBY ON NOTICE that, pursuant to that certain AGREEMENT TO WAIVE AND MODIFY NOTICE
AND CURE PERIOD (PURCHASE, SALE, AND DEVELOPMENT AGREEMENT) (Cypress Point Holdings LLC
Trustee Notice), dated February 7, 2024, between City and Developer (the "Waiver And Modification
Agreement"), entered into pursuant to Section 605 of the Original PSDA, the City hereby declares the Developer
in "Default" of its obligations under the PSDA. This letter serves as written Notice of the Default and demands
the cure of the Default, as governed by Paragraph 3 of the Waiver and Modification Agreement, within seven (7)
days from receipt of this Notice of Default. Cure of the Default must be timely completed either by: (a) payment
of all obligations owing to Cypress to remove from title and terminate Trustee's Default Notice and Trustee's
Notice of Sale, and to prevent the sale of any or all real property subject to the Cypress Deed of Trust, or
(b) execution of forbearance agreement(s) with Cypress and any and all other lienholders with a deed of trust
securing any unpaid obligations, owed by Developer and secured by an interest in real property conveyed to
Developer for the Project, to prevent the sale of any or all real property subject to the Cypress Deed of Trust.
Developer shall timely deliver to the City Manager and City Attorney all documents (such as any forbearance
agreement(s)) evidencing compliance with the cure of Developer's Default as specified in this Notice of Default.
Developer shall immediately take all actions necessary and proper to prevent the sale of any real property subject
to the Cypress Deed of Trust.
Additionally, pursuant to Sections 2 and 7.9 of Amendment No. 5, Developer is obligated prior to closing of
escrow, which shall not be later than June 30, 2024, to deliver to the City Manager and City Attorney a copy of
all loan documents relating to the Recapitalization Loans, as identified in Amendment No. 5. The City Manager
and City Attorney are aware that alternative recapitalization funding sources are undergoing due diligence
review, and in connection therewith, the City requested the following information and documents:
1. Schedule(s) that true -up and reconcile SDC's (including SDC's affiliates') costs incurred and payments made,
to date. These amounts would be based on invoices from contractors, subcontractors, consultants, and other
third -party vendors, and remittances (or other documentation evidencing payments) by SDC.
78495 Calle Tampico I La Quinta, Californ a 92253 1 760 777.7000 I wwwJaquintaca gm!
4 &Kg
- CAI.IFORNIA -
2. Copy(ies) of the prospectus/financial details presented to Oppenheimer and Counterpointe with respect to
amounts needed to re -start and complete the "Core Project Components" as defined in Amendment No. 5 at a
minimum, and likely cover all property currently encumbered by deeds of trust at the project site.
3. Detail of the current and proposed capital stack, including terms, and balances for all debt and equity.
To date, no documents relating to the above -referenced items or recapitalization loans have been received by
the City. Therefore, within seven (7) days of receipt of this Notice of Default, you are demanded to deliver the
documents identified above so that the City may review them by the June 30, 2024 deadline for closing of escrow
under Amendment No. 5.
Additionally, the City hereby retains and reserves any and all rights and remedies available at law or in equity,
including those available under any and all provisions in the PSDA, due to Developer's Default and anticipatory
default(s). Additionally, pursuant to Sections 508 and 509 of the Original PSDA and Section 7.1 of Amendment
No. 5, the City retains and reserves all of its rights cumulatively, and does not waive any other default(s) that
Developer may otherwise now or in the future have by delivery of this Notice of Default.
Should you have any questions and to schedule a meeting, please contact me at (760) 777-7100.
Sincerely,
City
ill en
CiManager
cc: Bill Ihrke, City Attorney (via email)
78495 Calle Tampico 1 la Ouinta, Calilornia 922531 /80,777.70001 www.laquintaca,gov
4 a ilea
Clinton L. Blain, Attorney at Law
3990 Old Town Avenue,
Suite B-101
San Diego, CA 92110
Attention: Clinton Blain, Esq.
Crosbie Gliner Schiffman et al.
12750 High Bluff Drive, Suite 250
San Diego, California 92130
Attention: Dana Schiffman
Attention: Thomas Crosbey
dschiffman@cgs3.com
tcrosbie@cgs3.com
Caldarelli Hejmanowski Page & Leer
3398 Carmel Mountain Road
Suite 250
San Diego, CA 92121
Attention: William Caldarelli, Esq.
wjc@chpllaw.com
Michelman & Robinson, LLP
10880 Wilshire Blvd.
19th Floor
Los Angeles, CA 90024
Attn: Edward D. Vaisbort, Esq.
Attn: Eric Rans, Esq.
evaisbort@mrllp.com
ERans@mrllp.com
Abbey, Weitzenberg, Warren
& Emery
100 Stony Point Rd, Ste. 200
Santa Rosa, CA 95401
Attn: Mitchell B. Greenberg,
Esq.
mgreenberg@abbeylaw.com
First Pathway Partners
Attn: Dan Wycklendt
311 E. Chicago Street, Suite 510
Milwaukee, WI 53202
Keillor Capital
Attn: Eric Keillor
2429 W. Coast Hwy, suite 210
Newport Beach, CA 92663
Silver Arch Capital
Attn: Jeff Wolfer
411 Hackensack Ave,
Suite 803
Hackensack, NJ 07601
Ziegler Investment Banking
Attn: Aaron Gadouas
One North Wacker Drive,
Suite 2000
Chicago, Illinois 60606
Lieef Real Estate Energy Partners LLC
Attn: Caleb Stokes
5 Union Square West FRNT 1, #1265
New York, NY 10003
Orrick
400 Capitol Mall
Suite 3000
Sacramento, CA 95814-4497
Attn: Jenna Magan, Esq.
Attn: Bandon Dias, Esq.
jmagan@orrick.com
bdias@orrick.com
78495 Calle Tampico I La Ouinta, California 92253 1760.777.7000 I www.laquintaca gov
RECORDING REQUESTED BY
First American Title Insurance Company
AND WHEN RECORDED MAIL TO
First American Title Insurance Company
9255 Town Center Drive
Suite 200
San Diego, CA 92121
DOC # 2023-0363986
12/07/2023 10:01 AM Fees: $104.00
Page 1 of 2
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: ELENA#448
Trustee Sale No. 1197779 Loan No. Title Order No.
Space above this line for recorder's use only
IMPORTANT NOTICE
NOTICE OF DEFAULT AND ELECTION TO SELL UNDER DEED OF TRUST
IF YOUR PROPERTY IS IN FORECLOSURE BECAUSE YOU ARE BEHIND IN
YOUR PAYMENTS, IT MAY BE SOLD WITHOUT ANY COURT ACTION, and you
may have the legal right to bring your account in good standing by paying all of your past
due payments plus permitted costs and expenses within the time permitted by law for
reinstatement of your account, which is normally five business days prior to the date set for
the sale of your property. No sale date may be set until approximately 90 days from the date
this notice of default may be recorded (which date of recordation appears on this notice).
This amount is $37,413,260.00 as of 12/06/2023 and will increase until your account becomes
current.
While your property is in foreclosure, you still must pay other obligations (such as insurance
and taxes) required by your note and deed of trust or mortgage. If you fail to make future
payments on the loan, pay taxes on the property, provide insurance on the property, or pay
other obligations as required in the note and deed of trust or mortgage, the beneficiary or
mortgagee may insist that you do so in order to reinstate your account in good standing. In
addition, the beneficiary or mortgagee may require as a condition to reinstatement that you
provide reliable written evidence that you paid all senior liens, property taxes, and hazard
insurance premiums.
Upon your written request, the beneficiary or mortgagee will give you a written itemization of
the entire amount you must pay. You may not have to pay the entire unpaid portion of your
account, even though full payment was demanded, but you must pay all amounts in default
at the time payment is made. However, you and your beneficiary or mortgagee may mutually
agree in writing prior to the time the notice of sale is posted (which may not be earlier than
three months after this notice of default is recorded) to, among other things, (1) provide
additional time in which to cure the default by transfer of the property or otherwise; or (2)
establish a schedule of payments in order to cure your default; or both (1) and (2).
1
DOC #2023-0363986 Page 2 of 2
Trustee Sale No. 1197779 Loan No. Title Order No.
Following the expiration of the time period referred to in the first paragraph of this notice,
unless the obligation being foreclosed upon or, a separate written agreement between you
and your creditor permits a longer period, you have only the legal right to stop the sale of
your property by paying the entire amount demanded by your creditor.
To find out the amount you must pay, or to arrange for payment to stop the foreclosure, or if
your property is in foreclosure for any other reason, contact:
Cypress Point Holdings, LLC
c/o Michelman & Robinson
10880 Wilshire Blvd„ 19th Floor
Los Angeles, CA 90024
Attn: Edward D. Vaisbort (310) 299-5500
If you have any questions, you should contact a lawyer or the governmental agency which
may have insured your loan. Notwithstanding the fact that your property is in foreclosure,
you may offer your property for sale, provided the sale is concluded prior to the conclusion
of the foreclosure.
REMEMBER, YOU MAY LOSE LEGAL RIGHTS IF YOU DO NOT TAKE PROMPT
ACTION. NOTICE IS HEREBY GIVEN THAT: First American Title Insurance Company
is the duly appointed Trustee under a Deed of Trust dated 1111812022, executed by SilverRock
Development Company, LLC, as trustor, to secure obligations in favor of Cypress Point
Holdings, LLC, as Beneficiary recorded on November 30, 2022 as Document Number 2022-
0486431 of official records in the Office of the Recorder of Riverside County, California, as
more fully described on said Deed of Trust, including the note(s) for the sum of
$31,464,425.00; The beneficial interest under said Deed of Trust and the obligations secured
thereby are presently held by the beneficiary; that a breach of, and default in, the obligations
for which said Deed of Trust is security has occurred in that the payment has not been made
of: THE UNPAID PRINCIPAL BALANCE OF $31,464,425.00 WHICH BECAME DUE ON
09/30/2023 PLUS ACCRUED INTEREST AND LATE CHARGES.
That by reason thereof, the present beneficiary under such Deed of Trust, has executed and
delivered to said Trustee, a written Declaration and Demand for Sale, and has deposited with
said duly appointed Trustee, such Deed of Trust and all documents evidencing the
obligations secured thereby, and has declared and does hereby declare all sums secured
thereby immediately due and payable and has elected and does hereby elect to cause the
trust property to be sold to satisfy the obligations secured thereby.
DATE: 12/6/23
First American Title Insurance Company
u
David Z. Bark, Foreclosure Trustee
2
P.O. Box 23159
San Diego, CA 92193-3159
ELECTRONIC RETURN RECEIPT
REQUESTED
i
i
R
i
i
71 96900 2484 0813 7679 1
Mailed On: 1/8/2024 Order Number: 0003762-01
ClientID: FASD000307 ER Reference Number: 1197779
CITY OF LA QUINTA C/0 RUTAN & TUCKER, LLP ATTN: WILLIAM H. IHRKE, ESQ. CITY OF LA QUINTA
611 ANTON BOULEVARD., SUITE 1400
COSTA MESA CA, 92626
GenericAddressfnsert.doc Rev. 12/19/2018
P.O. Box 23159
San Diego, CA 92193-3159
ELECTRONIC RETURN RECEIPT
REQUESTED
1111 i•iiiiiii II 1111111111
71 96 oo/44a4 0813 7679
Mailed -On: 1/8/2024 Order Number: 0003762-01
ClientID: FASD000307 ER Reference Number: 1197779
CITY OF LA QUINTA C/0 RUTAN & TUCKER, LLP ATTN: WILLIAM H. IHRKE, ESQ.
611 ANTON BOULEVARD., SUITE 1400
COSTA MESA CA, 92626
PI'fNi�
Y i:�l%itrl.
JAN087024
zip 92123
3010645
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO
First American Title Insurance Company
9255 Town Center Drive
Suite 200
San Diego,. CA 92121
DOC # 2024-0111080
04/17/2024 08:51 AM Fees: $317.00
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: CRISTINA#7700
Space above this line for recorder's use only
Trustee Sale No. 1197779 Loan No. Title Order No.
APN TRA No.
NOTICE OF TRUSTEE'S SALE
YOU ARE IN DEFAULT UNDER A DEED OF TRUST DATED 11/18/2022. UNLESS YOU TAKE ACTION TO PROTECT
YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF
THE PROCEEDINGS AGAINST YOU, YOU SHOULD CONTACT A LAWYER.
On 05/16/2024 at 09:30AM, First American Title Insurance Company as the duly appointed Trustee under and pursuant
to Deed of Trust recorded on November 30, 2022 as Document Number 2022-0486431 of official records in the Office of
the Recorder of Riverside County, California„ executed by: SilverRock Development Company, LLC, as Trustor, Cypress
Point Holdings, LLC, as Beneficiary', WILL SELL AT PUBLIC AUCTION TO THE HIGHEST BIDDER FOR CASH (payable
at time of sale in lawful money of the United States, by cash, a cashier's check drawn by a state or national bank, a check
drawn by a state or federal credit union, or a check drawn by a state or federal savings and loan association, savings
association, or savings bank specified in section 5102 of the Financial Code and authorized to do business in this state).
At: the bottom of stairway of building located at 849 W. Sixth Street, Corona, CA, all right, title and interest conveyed to
and now held by it under said Deed of Trust in the property situated in said County, California describing the land therein:
See Exhibit "A" attached hereto and incorporated by reference herein
The property heretofore described is being sold "as is". The street address and other common designation, if any, of the
real property described above is purported to be: Vacant Land.
The undersigned Trustee disclaims any liability for any incorrectness of the street address and other common designation,
if any, shown herein. Said sale will be made, but without covenant or warranty, expressed or implied, regarding title,
possession, or encumbrances, to pay the remaining principal sum of the note(s) secured by said Deed of Trust, with
interest thereon, as provided in said note(s), advances, if any, under the terms of the Deed of Trust, estimated fees,
charges and expenses of the Trustee and of the trusts created by said Deed of Trust, to -wit: $45,550,467.00 (Estimated)
Accrued interest and additional advances, if any, will increase this figure prior to sale.
1
DOC #2024-0111080 Page 2 of 7
Trustee Sale No. 1197779
Loan No.
Title Order No.
APN
The beneficiary under said Deed of Trust heretofore executed and delivered to the undersigned a written Declaration of
Default and Demand for Sale, and a written. Notice of Default and Election to Sell. The undersigned caused said Notice
of Default and Election to Sell to be recorded in the county where the real property, is located and more than three months
have elapsed since such recordation.
NOTICE TO POTENTIAL BIDDERS:. If you are considering bidding on this property lien, you should understand that there
are risks involved in bidding at a trustee auction. You will be bidding on a lien, not on the property itself. Placing the highest
bid at a trustee auction does not automatically entitle you to free and clear ownership of the property. You should also be
aware that the lien being auctioned off may be a junior lien.. If you are the highest bidder at the auction, you are or may be
responsible for paying off all liens senior to the lien being auctioned off, before you can receive clear title to the property.
You are encouraged to investigate the existence, priority, and size of outstanding liensthat may exist on this property by
contacting the county recorder's office or a title insurance company, either of which may charge you: a fee for this
information. If you consult either of these resources, you should be aware that the same lender may hold more than one
mortgage or deed of trust on the property.
NOTICE TO PROPERTY OWNER: The sale date shown on this notice of sale may be postponed one or more times by
the mortgagee, beneficiary, trustee, or a court, pursuant to Section 2924g of the California Civil Code. The law requires
that information about trustee sale postponements be made available to you and to the public, as a courtesy to those not
present at the sale. If you wish to learn whether your sale date has been postponed, and, if applicable, the rescheduled
time and date for the sale of this property', you may visit the website below using the file number assigned to this case.
Information about postponements that are very short in duration or that occur close in time to the scheduled sale may not
immediately be reflected on the Internet Web site. The best way' to verify postponement information is to attend the
scheduled sale.
2
DOC #2024-0111080 Page 3 of 7
Trustee Sale No. 1197779
Loan No.
Title Order No.
APN
NOTICE TO TENANT: You may have a right to purchase this property after the trustee auction pursuant to Section
2924m of the California Civil Code. If you are an "eligible tenant buyer," you can purchase the property if you match
the last and highest bid placed at the trustee auction. If you are an "eligible bidder," you may be able to purchase
the property if you exceed the last and highest bid placed at the trustee auction. There are three steps to exercising
this right of purchase. First, 48 hours after the date of the trustee sale, you can call (858) 410-2154, or visit this
internet website [iSee Link Below], using the file number assigned to this case [TS 1197779] to find the date on
which the trustee's sale was held, the amount of the last and highest bid, and the address of the trustee. Second,
you must send a written notice of intent to place a bid so that the trustee receives it no more than 15 days after the
trustee's sale. Third, you must submit a bid so that the trustee receives it no more than 45 days after the trustee's
sale. if you think you may qualify as an "eligible tenant buyer" or "eligible bidder," you should consider contacting an
attorney or appropriate real estate professional immediately for advice regarding this potential right to purchase.
For information on sale dates please visit our website at:
https://foreclosure.firstam.com/#/foreclosure
DATE: 4/16/24
First American Title Insurance Company
9255 Town Center Drive
Suite 200
San Diego, CA 92121
(858) 410-2158
David Z. Bark, Foreclosure Trustee
3
Exhibit "A"
PARCEL B:
DOC #2024-0111080 Page 4 of 7
THAT PORTION OF PARCELS 4 AND 18 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
LOT "C" OF LOT UNE ADJUSTMENT NO. 2020-0010, RECORDED JULY 15, 2021 AS INSTRUMENT
NO. 2021-0426711 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF CALIFORNIA, AS
DESCRIBED THEREIN.
PARCEL C:
THAT PORTION OF PARCEL 3 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA, COUNTY OF
RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES 72
THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID
COUNTY, DESCRIBED AS FOLLOWS:
LOT "B" OF LOT UNE ADJUSTMENT NO. 2020-0010, RECORDED JULY 16, 2021 AS INSTRUMENT
NO. 2021-0428113 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF CALIFORNIA, AS
DESCRIBED THEREIN.
PARCEL G:
THAT PORTION OF PARCELS 6 AND 7 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
PARCEL "A" OF LOT LINE ADJUSTMENT NO. 2020-0005, RECORDED SEPTEMBER 2, 2021 AS
INSTRUMENT NO. 2021-0527060 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF
CALIFORNIA, AS DESCRIBED THEREIN.
PARCEL H:
THAT PORTION OF PARCELS 6, 7 AND 8 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
PARCEL "B" OF LOT UNE ADJUSTMENT NO. 2020-0005, RECORDED SEPTEMBER 2, 2021 AS
INSTRUMENT NO. 2021-0527060 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF
CALIFORNIA, AS DESCRIBED THEREIN.
PARCEL I:
THAT PORTION OF PARCELS 7 AND 8 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
4
DOC #2024-0111080 Page 5 of 7
PARCEL "C" OF LOT UNE ADJUSTMENT NO. 2020-0005, RECORDED SEPTEMBER 2, 2021 AS
INSTRUMENT NO. 2021-0527060 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF
CALIFORNIA, AS DESCRIBED THEREIN.
PARCEL J:
PARCELS 5 AND 12 AND LETTERED PARCELS E, F AND G OF PARCEL MAP NO. 37207, AS SHOWN BY
A MAP FILED IN BOOK 242, PAGES 72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE CITY OF
LA QUINTA, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY.
EXCEPTING THEREFROM PARCELS 5 AND 12, ALL OIL, GAS, HYDROCARBON SUBSTANCES, AND
MINERALS OF EVERY KIND AND CHARACTER LYING MORE THAN FIVE HUNDRED (500) FEET
BELOW THE SURFACE, TOGETHER WITH THE RIGHT TO DRILL INTO, THROUGH, AND TO USE AND
OCCUPY ALL PARTS OF THE PHASE 1A AND 1B PROPERTY LYING MORE THAN FIVE HUNDRED (500)
FEET BELOW THE SURFACE THEREOF FOR ANY AND ALL PURPOSES INCIDENTAL TO THE
EXPLORATION FOR AND PRODUCTION OF OIL, GAS, HYDROCARBON SUBSTANCES OR MINERALS
FROM SAID PHASE 1A AND 1B PROPERTY OR OTHER LANDS, BUT WITHOUT, HOWEVER, ANY
RIGHT TO USE EITHER THE SURFACE FROM SAID PHASE 1A AND 1B PROPERTY OR ANY PORTION
THEREOF WITHIN FIVE HUNDRED (500) FEET OF THE SURFACE FOR ANY PURPOSE OR PURPOSES
WHATSOEVER, OR TO USE THE PHASE 1A AND 1B PROPERTY IN SUCH A MANNER AS TO CREATE A
DISTURBANCE TO THE USE OR ENJOYMENT OF THE PHASE 1A AND 16 PROPERTY, AS RESERVED
BY THE CITY OF LA QUINTA, A CALIFORNIA MUNICIPAL CORPORATION AND CHARTER CITY, IN
THE GRANT DEED RECORDED NOVEMBER 28, 2018, AS INSTRUMENT NO. 2018-0464674 AND
RECORDED NOVEMBER 6, 2017, AS INSTRUMENT NO. 2017-0463950, BOTH OF OFFICIAL
RECORDS.
THE FOLLOWING LEGAL DESCRIPTION IS SHOWN AND DESCRIBED IN SAID DEED OF TRUST AS
FOLLOWS:
PARCEL B:
THAT PORTION OF PARCELS 4 AND 18 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
LOT "C" OF LOT UNE ADJUSTMENT NO. 2020-0010, RECORDED JULY 15, 2021 AS INSTRUMENT
NO. 2021-0426711 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF CALIFORNIA, AS
DESCRIBED THEREIN.
PARCEL C:
THAT PORTION OF PARCEL 3 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA, COUNTY OF
RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES 72
THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID
COUNTY, DESCRIBED AS FOLLOWS:
LOT "B" OF LOT UNE ADJUSTMENT NO. 2020-0010, RECORDED JULY 16, 2021 AS INSTRUMENT
NO. 2021-0428113 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF CALIFORNIA, AS
DESCRIBED THEREIN.
5
DOC #2024-0111080 Page 6 of 7
PARCEL G:
THAT PORTION OF PARCELS 6 AND 7 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
PARCEL "A" OF LOT LINE ADJUSTMENT NO. 2020-0005, RECORDED SEPTEMBER 2, 2021 AS
INSTRUMENT NO. 2021-0527060 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF
CALIFORNIA, AS DESCRIBED THEREIN.
PARCEL H:
THAT PORTION OF PARCELS 6, 7 AND 8 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
PARCEL "B" OF LOT UNE ADJUSTMENT NO. 2020-0005, RECORDED SEPTEMBER 2, 2021 AS
INSTRUMENT NO. 2021-0527060 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF
CALIFORNIA, AS DESCRIBED THEREIN.
PARCEL I:
THAT PORTION OF PARCELS 7 AND 8 OF PARCEL MAP NO. 37207, IN THE CITY OF LA QUINTA,
COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY A MAP FILED IN BOOK 242, PAGES
72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY, DESCRIBED AS FOLLOWS:
PARCEL "C" OF LOT LINE ADJUSTMENT NO. 2020-0005, RECORDED SEPTEMBER 2, 2021 AS
INSTRUMENT NO. 2021-0527060 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, STATE OF
CALIFORNIA, AS DESCRIBED THEREIN.
PARCEL 3:
PARCELS 5 AND LETTERED PARCELS D, E, F AND G OF PARCEL MAP NO. 37207, AS SHOWN BY A
MAP FILED IN BOOK 242, PAGES 72 THROUGH 87, INCLUSIVE OF PARCEL MAPS, IN THE CITY OF
LA QUINTA, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY.
RESERVING THEREFROM PARCELS 5 AND 12, ALL OIL, GAS, HYDROCARBON SUBSTANCES, AND
MINERALS OF EVERY KIND AND CHARACTER LYING MORE THAN FIVE HUNDRED (500) FEET
BELOW THE SURFACE, TOGETHER WITH THE RIGHT TO DRILL INTO, THROUGH, AND TO USE AND
OCCUPY ALL PARTS OF THE PHASE 1A AND 1B PROPERTY LYING MORE THAN FIVE HUNDRED (500)
FEET BELOW THE SURFACE THEREOF FOR ANY AND ALL PURPOSES INCIDENTAL TO THE
EXPLORATION FOR AND PRODUCTION OF OIL, GAS, HYDROCARBON SUBSTANCES OR MINERALS
FROM SAID PHASE 1A AND 1B PROPERTY OR OTHER LANDS, BUT WITHOUT, HOWEVER, ANY
RIGHT TO USE EITHER THE SURFACE FROM SAID PHASE 1A AND 1B PROPERTY OR ANY PORTION
THEREOF WITHIN FIVE HUNDRED (500) FEET OF THE SURFACE FOR ANY PURPOSE OR PURPOSES
WHATSOEVER, OR TO USE THE PHASE 1A AND 1B PROPERTY IN SUCH A MANNER AS TO CREATE A
DISTURBANCE TO THE USE OR ENJOYMENT OF THE PHASE 1A AND 1B PROPERTY, AS RESERVED
BY THE CITY OF LA QUINTA, A CALIFORNIA MUNICIPAL CORPORATION AND CHARTER CITY, IN
THE GRANT DEED RECORDED NOVEMBER 28, 2018, AS INSTRUMENT NO. 2018-0464674 AND
RECORDED NOVEMBER 6, 2017, AS INSTRUMENT NO. 2017-0463950, BOTH OF OFFICIAL
RECORDS.
6
DOC #2024-0111080 Page 7 of 7
APN: 777-490-057; 777-490-058; 777-490-059; 777-490-060; 777-490-061; 777-490-062; 777-490-
063; 777-490-064; 777-490-065; 777-490-066; 777-490-037; 777-490-068; 777-490-072; 777-490-
076; 777-490-073; 777-490-074; 777-490-075; 777-490-080; 777-490-077; 777-490-078; 777-490-
079; 777-490-054; 777-490-042; 777-490-055; 777-490-053
7
Monika Radeva
From: Jon McMillen
Sent: Wednesday, April 17, 2024 12:39 PM
To: Robert S. Green Jr. (robert@therobertgreencompany.com)
Cc: Dana Schiffman; Tom Crosbie; wjc@chpllaw.com; Edward D. Vaisbort (LA); Eric Rans
(OC); mgreenberg@abbeylaw.com;jmagan@orrick.com; bdias@orrick.com; Monika
Radeva; Bill Ihrke
Subject: Notice of Default of Purchase, Sale, and Development Agrement
Attachments: Notice of Default of Purchase, Sale and Development Agreement Letter[49].pdf; Cypress
Holdings - Trustee Notice of Default and Intent to Sell Real Property [Recorded Dec 7
2023][82].pdf; Cypress Point Holdings - 4.17.2024 Recorded Notice of Sale[78].pdf
Good Afternoon Robert, Please see attached Notice of Default. Please contact me to discuss.
Regards
4 Gin
Jon McMillen 1 City Manager
City of La Quinta
78495 Calle Tampico 1 La Quinta, CA 92253
Ph. 760.777.7030
www.laquintaca.gov
www.playinlaquinta.com
1
1
USPS CEF(TIFLED MAIL
lI'1'i 11Iflll1 1 UiI1 I"1ilIl
9214 8901 8804 0800 058 40
SILVERROCK DEVELOPMENT COMPANY LLC
C1G: THE ROBERT GREEN COMPANY
ATTN: ROBERT GREEN
ENCINITAS CA 92024-7214
CO412ailig
of La Ovinta
78495 Call, Tampico
La Guin;a CA 92253
CERTIFIED #1A _
111
1
USPS CERTIFIED MAIL
111111111
1 111
1111
1
ll I
9214 8901 8804 0800 0584 34
111
CLINTON L BLAIN ATTORNEY AT LAW
ATTM CLINTON BLAIN ESQ
5TE B101
3990 OLD TOWN AVE
SAN DIEGO CA 92110-2967
quadrent LL!
FIRST CI ASS MAIL
$008.35
OGI x/1,324 ;P ?2263{ 043M312A-04E4
IYI
4 ailittai
---.VJ1;WAN -
City Of La Quinta
nos Calle Tampico
riiiirda CA 92253
c:ERTIFIED riAII
JF CERTIFIED MAIL
i
8214 8901 8804 ONO 0584 41
ATTENTION= DANA SCHIFFMAN
ATTN: THOMAS CROSBEY
STE 250
12150 HIGH BLUFF DR
SAN MOO DA 92130-2230
City of La QuGrrta
7E495 Calle Tampico
L$ QJ Anka CA 92253
CF TIFIF' t MA11
1
11
USPS CERTIFIED MAIL
GN
04 08001:1584 41
k _ II 11 1
ATTENTION.: DANA SCHIFFMAN
ATTN- THOMAS CROSBEY
STE 250
12750 HIGH BLUFF DR
SAN DIEGO CA 92130-2230
quadienk LU
C'3
F IR3T-1.71:;.S M14Ik III
OO8.3 a i
p41.70 '24 TIP Y22:,_+ {l7
r 13 :l Z -Ila
1 •
a
of La Quints
95 Cale Tampico
Quinta CA 92253
f
iiiTERTiFEW MAIL
11
i
11
USPS CERTIFIED MAIL
i
i
ASI
i
I X1214 8901 880-4 0800 058.4 S5
111
MICHELMAN & ROBINSON LLP
ATTN: EDWARD D VAISBORT ESQ
ATTN: ERIC RANS ESQ
10880 WILSHIRE B02 ?a�. , 1=L 19
_ - IES-.^. d 03
Sty cilia Ou°
11495 Cath Tampico
a Quinta CA 9225
�o connectsuite
Natio City of La Quinta,
Thank you for using ConnectSuite. Attached is your POD!
MICHELMAN & ROBINSON LLP
ATTN: EDWARD D VAISBORT ESQ
ATTN: ERIC RANS ESQ
10880 WILSHIRE BLVD FL 19
LOS ANGELES CA 90024-4101
q,..10:1 ',ern; il`,T f:l. —ST Nr�li
NI
$008.35
;1.1,I,�;0?4 ZIP'.P725'J
i4;+10,131.2444LL'
Tracking Number: 9214 8901 8804 0800 0584 65
Shipment Activity
Location
Date & Time
DELIVERED {system added}
1
IJSPS CERTIFIED MAIL 1
101
1
11
LI2.12.121.1 8804 08AS 0584 72
ABBEY, WEITZENBERG. WARRENMFRY
ATTN MITCHELL B GREENBERG, ESC)
STE 200
100 STONY POINT RD
SANTA ROSA CA 95401.4150
04/22/2024 06:07
a&addira
,ity of La Quinta
18495 Calle Tampico
Quinta CA 92253
CERTIFIED MAIL
1
1
Iu
USPS CERTIFIED MAIL
111
1
1
II
1
111
1
111
1
9214 8901 8804 0800 0584 89
II
1
11
FIRST PATHWAY PARTNERS
ATTN: DAN WYCKLENDT
STE 510
311 E CHICAGO ST
MILWAUKEE WI 53202-5896
USPS CERTIFIED MAIL
Il
KEILLOR CAPITAL
ATTN: ERIC KEILLOR
STE 210
2429 W COAST HWY
re
Tracking Number:
9214890188040800058496
Copy •". Add to Informed Delivery
'tt
quod
0 1
k•4 FIRST-CLentASS MAIL
IMI
y $008.35 °
• 04'17/;'U24 21p 92;1'
sle%71c. 04341312444V)
US POSTAGE
Latest Update
Your item was delivered to the front desk, reception area, or mail
room at 4:42 pm on May 20, 2024 in NEWPORT BEACH, CA
92663.
Get More Out of USPS Tracking:
USPS Tracking Plus-
G Delivered
Delivered, Front Desk/Reception/Mail Room
NEWPORT BEACH. CA 92663
May 20, 2024. 4:42 pm
See All Tracking History
What Do USPS Tracking Statuses Mean?
adea
lity of La Quinta
8495 CaIIe Tampico
a Quinta CA 92253
CER11FlEO MAIL
11
11
1
USPS CERTIFIED MAIL
1
1
1 1
1
it
1
1
9214 8901 8804 0800 0585 02
11
1
1
SILVER ARCH CAP'TAL
ATTN: JEFF WOLFER
STE 803
411 HACKENSACK AVE
HACKENSACK NJ 07601-6448
ly of La Quinta
:3495 CaIIe Tampico
Quinta CA 92253
CERTIFIED MAIL
USPS CERTIFIED MAIL
11! 11 11i 1111 .h1IUlI IIII'.I
9214 89Q1 8804 0800 0585 26
LIEEF REAL ESTATE ENERGY PARTNERS LLC-
ATTN:
LCATTN: CALEB STCKES
FRNT 1, # 1265
5 UNION SQ W
NEW YORK NY 10003-0060
1
1
1
9214890188040800058526
0 Copy *. Add to Informed Delivery
Latest Update
FIRS; :LASS MAI1.
t +MI
$008.35 2
'.!43M31214460
Your item was delivered to the front desk, reception area, or mail
room at 2:53 pm on April 23, 2024 in NEW YORK, NY 10003.
Get More Out of USPS Tracking:
ui USPS Tracking Plus®
V5 POSTAGE
quad+ent �U
C�
FIRST-CLASS MAK kQ-
I ri1 Ic1?
$008.35' 2
04'1112424 11P97.25.3
O.3M312444G0
G Delivered
Delivered, Front Desk/Reception/Mail Room
NEW YORK, NY 10003
April 23, 2024, 2:53 pm
See All Tracking History
Whet Do USPS Tracking Statuses Mean?
&aging,
Ity of La Quints
495 Calla TampI
CUinld CA 92263
CERTIFIED MAIL
iii
1
II
USPS CERTIFIED MAIL
1
1
I 1
i
1
9214 0901 5804 0800 0585 19
ZIEGLER INVESTMENT BANKING
ATTN: AARON GADOIJAS
TE 2000
N WALKER DR
CHICAGO 'L 60606-2809
1
1
CERTIFIED
PC4Zdea I
t -y a a Quint
W95 Calle Tarnpioa
Q4linla CA 92253
11
111
USPS CERTIFIED MAIL.
I I
111
1
9214 5901 8804 0800 0585 33
1
ORRICE
ATTN: - ENNA MAGAN ESO
ATTN; BANDON DIASESQ
SUITE 3000
400 CAPITOL MALL
SACRAMENTO CA 95814-4407
quodrent LU
I RS1-{;LASS MAIL 1
IpI L!}
$008.35
�sr1 �,2Cf� ZI' 9?75-3
quadiOnt
1 ERST CLASH MALL cr
IML
$008.352
far ?'2C2� ZIP 97253 vi
pg3313124•14&'