2002 Spanos Corp - Cert of Completion DOC # 2002-005890CERTIFICATE OF COMPLETION
DOC U 2002—OOMBSO
01/04/2002 08:00A Fee:NC
RECORDING REQUESTED BY page 1 of s
Recorded in Official Records
AND WHEN RECORDED MAIL T0: ) County of Riverside
Gary L. Orso
Assessor, County Clerk b Recorder
LA QUINTA REDEVELOPMENT AGENCY
78-495 Calle Tampico
P. 0. Box 1504 M s U PAGE SIZE DA PC OR NOCOR SMF MISC.
La Quinta, California 92253
Attn: Executive Director
I
A R L COPY LONG REFUND NCHG EXAIt
CERTIFICATE OF COMPLETION) OF CONSTRUCTION AND DEVELOPMEN
T
WHEREAS, by an Affordable Housing Agreement dated September 7, 1999, by
and between the LA QUINTA REDEVELOPMENT AGENCY, a public body, corporate
and politic (hereinafter referred to as the "Agency") and THE SPANOS CORPORATION
(collectively referred to as the "Developer"), the Developer has constructed
improvements upon the real property (the "Site"), legally described on the Attached
Exhibit "A", by constructing or causing to be constructed the improvements thereon
according to the terms and conditions of said Affordable Housing Agreement (the
"Agreement"); and
WHEREAS, pursuant to Section 315 of the Agreement, promptly after
completion of the Improvements the Agency shall furnish the Developer with a
Certificate of Completion upon written request therefor by the Developer; and
WHEREAS, the issuance by the Agency of the Certificate of Completion shall
be conclusive evidence that the construction of the Improvements conforms to the
Agreement; and
WHEREAS, the Developer has requested that the Agency furnish the Developer
with the Certificate of Completion; and
WHEREAS, the Agency has conclusively determined that the construction of the
Improvements conforms to the Agreement;
NOW, THEREFORE:
1. As provided in the Agreement, the Agency does hereby certify that the
construction of the Improvements required to be constructed on the Site described in
Exhibit A hereto has been satisfactorily performed and completed and that such
development and construction work complies with the Agreement.
1
2. This Certificate of Completion does not constitute evidence of compliance
with or satisfaction of any obligation of the Developer to any holder of a mortgage or
any insurer of a mortgage security money loaned to finance the work of construction
if improvements and development of the Site, or any part hereof. This Certificate of
Completion is not a notice of completion as referred to in Section 3093 of the
California Civil Code.
3. This Certificate of Completion does not denote completion of any work
required to be completed, other than on the Site.
4. The Deed of Trust recorded as Document No. 00-090258 among the
official land records of the County of Riverside and those Conditions, Covenants and
Restrictions recorded as Document No. 00-090259 among the official land records of
the County of Riverside shall remain in full force and effect.
IN WITNESS WHEREOF, the Agency has executed this Certificate as of this
14th day of September, 2001.
LA QUINTA REDEVELOPMENT AGENCY
THOMAS P. GENOVESE, Executive Director
ATTEST:
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State of California
County of Riverside
p November 20 .001 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.
(Seal)
//REGENIA HENSLEY
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Document Description: Certificate of Completion
Number of Pages: Three �3) including acknowledgment pane
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EXHIBIT "'A"
LEGAL DESCRUMON OF PROPERTY
LEGAL DESCRIPTION
IN THE CITY OF LA QUINT& COUNTY OF RIVERSIDE, STATE OF CALIFORNIA,
THAT PORTION OF THE SOUTHWEST ONE -QUARTER OF SECTION 29,
TOWNSHIP 5 SOUTH, RANGE 7 EAST, S.B.M., DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF SAID SOUTHWEST ONE -
QUARTER OF SECTION 29;
THENCE NORTH 00° 20' 08" WEST ALONG THE WESTERLY LINE OF SAID
SOUTHWEST ONE -QUARTER A DISTANCE OF 1087.25 FEETTO THE TRUE POINT
OF BEGINNING;
THENCE SOUTH 890 51' 38" EAST A DISTANCE OF 1115.00 FEET;
THENCE SOUTH 000 20' 08" EAST PARALLEL WITH SAID WESTERLY LINE A
DISTANCE OF 580.00 FEET;
THENCE NORTH 890 51' 38" WEST A DISTANCE OF 1115.00 FEET TO A POINT ON
SAID WESTERLY LINE;
THENCE NORTH 000 20' 08" WEST ALONG SAID WESTERLY LINE A DISTANCE OF
580.00 FEET TO THE POINT OF BEGINNING.
EXCEPTING THEREFROM AN EASEMENT FOR PUBLIC STREET AND PUBLIC
UTILITY PURPOSES OVER THE WESTERLY 55.00 FEET OF SAID DESCRIBED
PARCEL.
ALSO EXCEPTING THEREFROM AN EASEMENT FOR LANDSCAPE AND
PEDESTRIAN PURPOSES OVER THE EASTERLY 20.00 OF THE WESTERLY 75.00
FEET OF SAID DESCRIBED PARCEL.
SUBJECT TO EXISTING EASEMENTS OF RECORD.
COMPRISING 14.845 ACRES OF GROSS AREA, 13.847 ACRES OF NET AREA,
MORE OR LESS.
LA
EXHIBIT "A"
THE SITE
48TH AVER .
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