2024-08-01 Robert Green Company Notice of Termination of MOUTHE
ROBERT GREEN
COMPANY
August 1, 2024 (12:01 am)
City of La Quinta
78495 Calle Tampico
La Quinta, CA 92253
Attention: Jon McMillen, City Manager
Email: Lmcmillen@laquintaca.gov
Poppy Bank
438 First Street
Santa Rosa, CA, 95401
Attn: Ed Gomez Attn: Lisa Mills
Email: egomez@poppy.bank;
Imills@poppy.bank
Cypress Ascendant Holdings, LLC
12707 High Bluff Dr., Suite 340
San Diego, CA 92130 Attn: Bill Trzos
Email: bill(c�cypress-ascendant.com
R.D. Olson Construction
400 Spectrum Center Drive, Suite 1200
Irvine, CA 92618
Attn: William Wilhelm
Email: BWilhelm@rdolson.com
Sent via email, read confirmation requested
Granite Construction Corporate
Headquarters
585 W. Beach Street
Watsonville, CA 95076
Attn: Jordy Murray, Deputy Senior
Counsel Email: Jordy.Murray@gcinc.com
Montage North America, LLC
3 Ada Parkway, Suite 100
Irvine, CA 92618
Attn: Jason S. Herthel
Email: jason.herthel@montage.com
CMG
3160 Crow Canyon Road, Suite 400
San Ramon, California 94583
Attn: Christopher George
Email: cgeorge@cmqfi.com
Re: Notice of Termination of MEMORANDUM OF UNDERSTANDING AND AGREEMENT
RELATING TO DEFAULT AND DEVELOPER REQUIREMENTS (PURCHASE, SALE, AND
DEVELOPMENT AGREEMENT) (the " MOU") dated May 24, 2024
Dear Mr. McMillen and all other parties to the referenced MOU:
I call your attention to Section 4.5 to the MEMORANDUM OF UNDERSTANDING AND
AGREEMENT RELATING TO DEFAULT AND DEVELOPER REQUIREMENTS (PURCHASE,
SALE, AND DEVELOPMENT AGREEMENT) (the " MOU") dated May 24, 2024, which states, in
part:
"CMG shall pay-off all Developer Unpaid Obligations no later than thirty (30) days after
July 1, 2024 (i.e., July 31, 2024, and referred to as the `Developer Unpaid Obligations
Payment Deadline'), unless the creditor and/or beneficiary of an Developer Unpaid
Obligation expressly consents to nonpayment of the Developer Unpaid Obligation by
delivering written notice, no later than July 15, 2024, to the Parties, that said
creditor/beneficiary has voluntarily agreed to an accord and satisfaction for the debt
owed and no sale at auction will be pursued by said creditor/beneficiary for payment (in
whole or in part) of the Developer Unpaid Obligation..."
343 Fourth Ave 1 San Diego, CA 92101 1 760.634.6543
August 1, 2024
Section 4.5 of the MOU further states that:
THE
ROBERT GREEN
COMPANY
"If CMG fails to make any required payment on the terms and conditions set forth in this
Section 4.5, this MOU shall automatically terminate, and CMG shall have no further
rights, liabilities or obligations under this Agreement."
CMG has failed to pay all required payments on the terms and conditions set forth in Section 4.5
of the MOU. Furthermore, the creditors/beneficiaries have not voluntarily agreed to an accord
and satisfaction for the debt owed nor provided any notice of any such agreements.
Therefore, the Developer, as defined in the MOU, hereby confirms that the MOU is terminated,
and CMG henceforth has no further rights, liabilities or obligations under the MOU or the PSDA
or in connection with the Developer -Held Properties.
Thank you,
SILVERROCK DEVELOPMENT COMPANY, LLC,
a Delaware limited liability company
By: THE ROBERT GREEN COMPANY,
a California corporation
Its: Manager
By:
Robert S. Green, Jr., Presi.ent
SILVERROCK PHASE I, LLC,
a Delaware limited liability company
By: THE ROBERT GREEN COMPANY,
a California corporation
Its: Manager
By:
Robert S. Green, Jr., Presi•ent
SILVERROCK LODGING, LLC,
a Delaware limited liability company
By: THE ROBERT GREEN COMPANY,
a California corporation
Its: Manager
By:
Robert S. Green, Jr., Pres • ent
2
August 1, 2024
SILVERROCK LUXURY RESIDENCES, LLC,
a Delaware limited liability company
By: THE ROBERT GREEN COMPANY,
a California corporation
Its: Manag
By:
Robert S. Green, Jr., Presi.ent
THE
ROBERT GREEN
COMPANY
SILVERROCK LIFESTYLE RESIDENCES, LLC,
a Delaware limited liability company
By: THE ROBERT GREEN COMPANY,
a California corporation
Its: Manan --
By:
Robert S. Green, Jr., Presi•ent
RGC PA 789, LLC,
a Delaware limited liability company
By: THE ROBERT GREEN COMPANY,
a California corporation
Its: Manage
By:
Robert S. Green, Jr., Presi.ent
Copy to:
Rutan & Tucker, LLP.
18575 Jamboree Road, 9th Floor
Irvine, CA 92130
Attention: William H. Ihrke
Email: bihrke@rutan.com
Abbey, Weitzenberg, Warren & Emery
100 Stony Point Rd, Ste. 200
Santa Rosa, CA 95401
Attn: Mitchell B. Greenberg
Email: mgreenberg@abbeylaw.com
Michelman & Robinson, LLP
10880 Wilshire Blvd 19th Floor
Los Angeles CA 90024
Attn: Edward D. Vaisbort Attn: Eric Rans
Email: evaisbort@mrllp.com Email: ERans@mrllp.com
3
August 1, 2024
Watt, Tieder, et al., LLP
4 Park Plaza, Suite 1000
Irvine, CA 92614
Attn: David McPherson
Email: dmcpherson@watttieder.com
Finch, Thornton & Baird, LLP
4747 Executive Drive
San Diego, CA 92121
Attn: Andrea L. Petray
Email: apetray@ftblaw.com
Dentons US, LLP
2398 E. Camelback Road, Suite 850
Phoenix, AZ 85016
Attn: Chair, Global Hotels and Leisure
Email: rick.ross@dentons.com
Rodriguez Wright LLP
Attn: Stephen M. Wright, Esq.
Email: swright(a�rodriquezwright.com
Crosbie Gliner Schiffman et al.
12750 High Bluff Drive, Suite 250
San Diego, California 92130
Attention: Dana Schiffman
Email: dschiffman@cgs3.com
Attention: Thomas Crosbie
Email: tcrosbie@cgs3.com
Caldarelli Hejmanowski Page & Leer
3398 Carmel Mountain Road Suite 250
San Diego, CA 92121
Attention: William Caldarelli, Esq.
Email: wjc@chpllaw.com
4
THE
ROBERT GREEN
C 0 M 1' A N Y