HomeMy WebLinkAbout1991-5305
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"city")
RESOLUTION NO. 5305
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF SAN BERNARDINO,
CALIFORNIA, APPROVING A CERTAIN LOAN
TRANSACTION BY AND BETWEEN THE REDEVELOPMENT
AGENCY OF THE CITY OF SAN BERNARDINO AND
SAN GORGONIO LAND COMPANY
WHEREAS, the city of San Bernardino, California (the
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created and existing pursuant to the Constitution and the laws of
is a municipal corporation and a charter ci ty duly
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the State of California; and
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WHEREAS, the Community Development Commission of the
City of San Bernardino (the "Commission") on behalf of the
of the City of San Bernardino (the
Redevelopment Agency
"Agency"), is a redevelopment agency, a public body, corporate
and politic of the State of California, organized and existing
pursuant to the Community Redevelopment Law (Part 1 of Division
24) commencing with section 33000 of the Health and Safety Code
of the State of California (the "Act"); and
the Redevelopment Plan for the Central City North Redevelopment
WHEREAS, the City has previously approved and adopted
Project Area (the "Redevelopment Plan") pursuant to a duly
adopted Ordinance of the City; and
WHEREAS, the Commission deems it desirable to assist in
causing the acquisition of certain property located within the
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project area sUbject to the Redevelopment Plan (the "Project
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Area"); and
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WHEREAS, San Gorgonio Land Company, Inc., a California
corporation (the "Buyer"), has requested the Agency's assistance
in connection with the acquisition of certain real property which
consists of certain land and structures generally located at 701
North "E" Street and 767 North "E" Street as well as certain
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8 "Property"); and
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18 evidenced by a Promissory Note executed by the Buyer in favor of
19 the Agency and which Agency Loan shall be secured by a Deed of
20 Trust pertaining to the Property; and
related parking areas bounded on the west by "E" Street, on the
south by Seventh Street and on the east by Arrowhead Avenue (the
WHEREAS, the Buyer desires to acquire the Property for
the purposes of causing its use in a manner consistent with the
provisions of the Redevelopment Plan; and
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WHEREAS, in order to assist the Buyer, the Agency deems
it desirable to provide a short term loan (the "Agency Loan") to
the Buyer so that the Buyer is able to close escrow and complete
the acquisition of the Property which Agency Loan shall be
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22 WHEREAS, the Agency Loan is to be in an amount not to
23 exceed Three Million Five Hundred Eight Thousand Eight Hundred
24 Fifty Dollars ($3,508,850.00) as evidenced by the Promissory Note
25 a copy of which is attached hereto as Exhibit "A" and
26 incorporated herein by this reference and which Promissory Note
27 shall be secured by the Deed of Trust, a copy of which is
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28 attached hereto as Exhibit "B" and incorporated herein by this reference.
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NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO, CALIFORNIA, DOES HEREBY FIND,
RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
Section 1. The Commission hereby approves the
Agency Loan, in an amount not to exceed Three Million Five
Hundred Eight Thousand Eight Hundred Fifty Dollars
($3,508,850.00), to the Buyer for the purposes of causing the
acquisition of the Property and its subsequent use in accordance
with the provisions of the Redevelopment Plan.
Section 2. The Commission hereby approves the form
of the Promissory Note and the Deed of Trust to be executed by
the Buyer in favor of the Agency, copies of which are attached
hereto as Exhibits "A" and "B", respectively.
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1 STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO ss
2 CITY OF SAN BERNARDINO
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I, Kenneth J. Henderson Secretary of the Community
Development Commission of the city of San Bernardino, DO HEREBY
CERTIFY that the foregoing and attached copy of Community
Development commission of the city of San Bernardino Resolution
No. 5305 is a full, true and correct copy of that now on
file in this office.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official seal of the Community Development Commission
of the ci ty of San Bernardino this 16th day of
September , 1991.
sec~e
Community Development
Commission of the City of San
Bernardino
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO, CALIFORNIA, APPROVING A CERTAIN LOAN TRANSACTION
BY AND BETWEEN THE REDEVELOPMENT AGENCY OF THE CITY OF
SAN BERNARDINO AND SAN GORGONIO LAND COMPANY
section 3.
This Resolution shall take effect upon
its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the Community Development Commission of the City of
San Bernardino at a
Joint Reqular
meeting
thereof, held on the 16th
day of
September
1991, by the following vote, to wit:
Commission Members:
AYES
NAYS
ABSTAIN
ABSENT
ESTRADA
REILLY
HERNANDEZ
MAUDSLEY
MINOR
POPE-LUDLAM
MILLER
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x
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x
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--X-
--X-
16th
The foregoing resolution is
day of september , 1991.
approved this
b, Chairman
Community De elopment Commission
of the City of San Bernardino
Approved as to form and legal content:
By: /1.~~d~~~4 ~
~el
SBEO\OOOl \DOC\S13
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RECORDING REQUESTED BY:
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Redevelopmalt Agency of the
City of San Bernardino
300 North oDo Street
San Bemardino, Califomia 92418
WHEN RECORDED MAIL TO:
Sabo &. Green, A Professional Corporation
6320 euop Avenue, Suite 400
Woodland Hills, Califomia 91367
This Space for Recorder's Use
DEED OF TRUST
TInS DEED OF TRSUT, made on September 16, 1991, between SAN GORGONIO LAND COMPANY, a
California corporation, herein C8lled TRUSTOR, FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation,
herein C8lled TRUSTEE, and REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, a body corporate and politic,
herein C8lled BENEFICIARY.
WITNESSETH: THAT Trustor Jl'lUIts to Trustee in Trust, with Power of Sale, that property located in the City
of San Bemardino, County of San Bernardino, State of California, described in the attached Exhibit 0 A 0, which is incorporated herein
by reference.
TOIether with the rents, issues and profits thereof, IUbject, however, to the ript, power and authority hereinafter
Jiven to and conferred upon Beneficiary to collect and apply IUch rents, i$IUes and profits.
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This Deed of Trust is given for the purposes of Iecuring (I) payment of the IUm of THREE MILLION FIVE
HUNDRED mGHT THOUSAND EIGHT HUNDRED FIFTY DOLLARS ($3,508,850.00), according to the terms of a Promissory
Note of even date herewith made by Trustor, payable to order of Beneficiary, and extCDsiOOll or renewals thereof; and (2) the
performance of each aareement of Trustor incorporated by reference or contained herein; and (3) payment of additional sums and
interest thereon which may heresfter be loaned to Trustor, or hislUCCe&SOra or -IDS, when evidenced by a Promissory Note or
notes reciting that they are secured by this Deed of Trust.
To protect the security of this Deed of Trust, and with respect to the proeprty above described, Trustor expressly
makes each and all of the aareements, and adopts and agrees to perform and be bound by each and all of the terms and provisions
let forth in IUbdivision A, and it is mutually aareed that each and all of the termI and provWOOlI set forth in subdivision B of the
-- fictitiOus d'eed of trust recorded in Orange County on August 17, 1%4, and in all other counties on August 18, 1964, and in Book
6213 at Page 768 of the Official Records of the County of San Bemardino, which provisiOOllIball inure to and bind the parties hereto,
with respect to the property above described. Said agteemalts, terms and provWOOlI contained in said IUbdivision A and B are by
this reference incorporated herein and made a part of this Deed of Trust for all purposes as if fully set forth at length herein.
Dated: ~A'><t<-'2_ /1, /94/ SAN GORGONIO LAND COMPANY,
a California corporation
STATE OF CAYFORNIA /J f
COUNTY OF.....s-'Q./7 B.t.'}~/U$tno
)
) $S.
/
On this /i day of ~tm6.M-
in the year 1991, before me, the undenigned, a Notary Public
in and for said County and State, personally
appeared William Leonard, known to me (or I)roved to me
on the basis of aatisfactory evidence) to be the President of
. 0 y, an acknowledged to me that he executed the aame.
(S' alure)
/lJdR6ic VANce
(Name, typed or printed)
Of'I'IClAl. SEAL
MARGIE VANCE
IlOTAIIV fOUIllC. CALIFOllNlA
__COUNTY
..,_ e_ FOb. '0. 'H5
(Space above for Official Seal)
1IEOOOO11DOC\51_
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EXHIBIT "A"
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LEGAL DESCRIPTION
A. PARCEL NO. 1:
LOT 2, BLOCK 52 OF THE CITY OF SAN BERNARDINO, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN
BERNARDINO, STATE OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 7 OF MAPS, PAGE 1, RECORDS OF SAID
COUNTY.
EXCEPTING THEREFROM THE EAST 76 FEET.
ALSO EXCEPTING THEREFROM THAT PORTION OF SAID LOT 2 DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE SOUTH LINE OF SAID LOT 2, BLOCK 52, 76.0 FEET WESTERLY FROM THE
SOUTHEAST CORNER OF SAID LOT: THENCE WESTERLY ALONG SAID SOUTH LINE, 9.5 FEET: THENCE NORTH
TO THE NORTII LINE OF SAID LOT: THENCE EASTERLY ALONG THE SAID NORTII LINE TO A POINT 76.0 FEET
WESTERLY FROM THE NORTIIEAST CORNER OF SAID LOT: THENCE SOUTHERLY TO THE POINT OF BEGINNING.
PARCEL NO.2:
THE EAST 101 FEET OF LOT 5 OF THE SUBDMSION OF LOTS 1 AND 8, IN BLOCK 52, ONE ACRE SURVEY OF SAN
BERNARDINO, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, AS
PER PLAT RECORDED IN BOOK 2 OF MAPS, PAGE 26, RECORDS OF SAID COUNTY.
B. PARCEL NO.1:
LOT 3 AND THE EAST 76 FEET OF LOT 2, ALL IN BLOCK 52, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN
BERNARDINO, STATE OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 7, PAGE 1 OF MAPS, RECORDS OF SAID
COUNTY: AND THE WEST 34 FEET OF THE SOUTH 270 FEET OF LOT 5 OF PORTER'S SUBDIVISION AS PER PLAT
RECORDED IN BOOK 2, PAGE 26 OF MAPS, RECORDS OF SAID COUNTY.
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PARCEL NO.2:
THE NON-EXCLUSIVE RIGHT TO USE FOR ACCESS TO AND EGRESS FROM PARCEL 1, A 9.5-FOOT DRIVEWAY OVER
AND ACROSS THE WEST 9.5 FEET OF THE EAST 85.5 FEET OF LOT 2 IN SAID BLOCK 52.
C. PARCEL NO.1:
THE NORTIl6O FEET OF LOT 2, ACCORDING TO MAP OF SUBDMSION OF LOTS 1 AND 8, BLOCK 52 OF TIlE ONE
ACRE SURVEY OF SAN BERNARDINO, IN TIlE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE
OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 2 OF MAPS, PAGE 26, RECORDS OF SAID COUNTY.
PARCEL NO.2:
TIlAT PORTION OF PORTER'S SUBDIVISION, IN TIlE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO,
STATE OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 2 OF MAPS, PAGE 26, RECORDS OF SAID COUNTY,
DESCRIBED AS FOLLOWS:
BEGINNING ON THE WEST LINE OF "D" STREET, 60 FEET SOUTH OF THE NORTIlEAST CORNER OF LOT 2 OF SAID
SUBDMSION: THENCE SOUTH 62-1/2 FEET; TIlENCE WEST TO AN ALLEY IN THE REAR OF SAID LOT; THENCE
NORTII 62-1/2 FEET: THENCE EAST TO TIlE POINT OF BEGINNING.
PARCEL NO.3:
THOSE PORTIONS OF LOTS 3 AND 4 OF THE SUBDIVISION OF LOTS 1 AND 8, BLOCK 52, CITY OF SAN
BERNARDINO, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, AS
PER PLAT RECORDED IN BOOK 2 OF MAPS, PAGE 26, RECORDS OF SAID COUNTY, DESCRIBED AS FOLLOWS:
COMMENCING AT A POINT IN THE EAST LINE OF SAID LOT 4, DISTANT 60 FEET NORTII OF TIlE SOUTHEAST
CORNER OF SAID LOT 4: THENCE RUNNING NORTIl4O FEET; THENCE WEST 150 FEET TO THE ALLEY SHOWN ON
SAID MAP; THENCE SOUTH ON THE EAST LINE OF SAID ALLEY, 40 FEET: THENCE EAST 150 FEET TO THE POINT
OF BEGINNING.
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EXHIBIT "A" . Page 1
PARCEL NO.4:
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THAT PORTION OF LOT I, BLOCK 52, CITY OF SAN BERNARDINO, IN THE CITY OF SAN BERNARDINO, COUNTY
OF SAN BERNARDINO, STATE OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 7 OF MAPS, PAGE I, RECORDS
OF SAID COUNTY. DESCRIBED AS FOu.oWS:
BEGINNNO AT THE SOUTHEAST CORNER OF SAID LOT 1; THENCE NORTH 60 FEET; THENCE WEST 150 FEET TO
AN ALLEY AS SHOWN ON MAP OF THE SUBDMSION OF LOTS 1 AND 8, BLOCK 52, CITY OF SAN BERNARDINO,
AS PER PLAT RECORDED IN BOOK 2 OF MAPS, PAGE 26, RECORDS OF SAID COUNTY; THENCE SOUTH ALONG THE
EAST L1NE OF SAID ALLEY, TO THE NORTH L1NE OF 7TH STREET; THENCE EAST ALONG THE NORTH UNE OF
7TH STREET TO THE POINT OF BEGINNING.
PARCEL NO.5:
THE NORTH 112 OF LOT 4, BLOCK 52, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE
OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 7 OF MAPS, PAGE I, RECORDS OF SAID COUNTY.
PARCEL NO.6:
THAT PORTION OF LOT 2, IN BLOCK 52 OF THE CITY OF SAN BERNARDINO, IN THE COUNTY OF SAN
BERNARDINO, STATE OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 7 OF MAPS, PAGE I, RECORDS OF SAID
COUNTY, DESCRIBED AS FOu.oWS:
BEGINNING AT A POINT ON THE SOUTH L1NE OF SAID LOT 2, BLOCK 52, 76.0 FEET WESTERLY FROM THE
SOUTHEAST CORNER OF SAID LOT; THENCE WESTERLY ALONG SAID SOUTH UNE 9.5 FEET; THENCE NORTH TO
THE NORTH LINE OF SAID LOT; THENCE EASTERLY ALONG THE SAID NORTH LINE TO A POINT 76.0 FEET
WESTERLY FROM THE NORTHEAST CORNER QF SAID LOT; THENCE SOUTHERLY TO THE POINT OF BEGINNING.
TOGETHER WITH A RIGHT AND EASEMENT TO USE FOR DRIVEWAY PURPOSES, THAT CERTAIN STRIP OF LAND
DESCRIBED ABOVE, SUBJECT TO SAID EASEMENT.
D. PARCEL NO.1:
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PARCEL 2, AS PER PLAT ATTACHED TO CERTIFICATE OF COMPUANCE FOR LOT UNE ADJUSTMENT NO. 88-9,
RECORDED SEPTEMBER 14, 1988, INSTRUMENT NO. 88-308278, OFFICIAL RECORDS, BEING FURTHER DESCRIBED
THEREIN AS FOLLOWS:
THE NORTH 10.00 FEET OF LOT I, SUBDMSION OF LOTS 1 AND 8, BLOCK 52 OF PORTER'S SUBDIVISION IN THE
-- CITY' OF.SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CAUFORNIA, AS PER PLAT RECORDED
IN BOOK 2 OF MAPS, PAGE 26, RECORDS OF SAID COUNTY.
AND ALL OF LOT 7, BLOCK 52, CITY OF SAN BERNARDINO, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN
BERNARDINO, STATE OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 7 OF MAPS, PAGE I, RECORDS OF SAID
COUNTY.
EXCEPTING THEREFROM THAT PORTION OF SAID LOT 7 DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF SAID LOT 7; THENCE SOUTH, ALONG THE EAST UNE OF SAID LOT
7, A DISTANCE OF 57.50 FEET; THENCE WEST 149.90 FEET, MORE OR LESS, TO A POINT 150.00 FEET EAST OF THE
WEST LINE OF SAID LOT 7; THENCE NORTH, PARALLEL WITH SAID WEST UNE, A DISTANCE OF 57.50 FEET,
MORE OR LESS, TO THE NORTH LINE OF SAID LOT 7; THENCE EAST 149.90 FEET TO THE POINT OF BEGINNING.
ALSO EXCEPTING THEREFROM THAT PORTION OF SAID LOT 7 LYING WITHIN THE FOLLOWING DESCRIBED
PROPERTY:
BEGINNING AT A POINT 75.00 FEET EAST OF THE NORTHWEST CORNER OF LOT 6 OF SAID BLOCK 52; THENCE
EAST 75.00 FEET; THENCE SOUTH 206.88 FEET; THENCE WEST 75.00 FEET; THENCE NORTH 206.88 FEET TO THE
POINT OF BEGINNING.
ALSO EXCEPTING THEREFROM THAT PORTION OF SAID LOT 7, LYING WITHIN THE FOLLOWING DESCRIBED
PROPERTY:
BEGINNING AT THE NORTHWEST CORNER OF LOT 6 OF SAID BLOCK 52; THENCE EAST 75.00 FEET; THENCE
SOUTH 207.50 FEET TO A POINT 57.50 FEET SOUTH OF THE NORTH UNE OF SAID LOT 7; THENCE WEST 75.00 FEET
TO THE WEST LINE OF SAID LOT 7; THENCE NORTH 207.50 FEET TO THE POINT OF BEGINNING.
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EXHIBIT . A' - Page 2
PARCEL NO.2:
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ALL THAT PORTION OF LOT 1. ACCORDING TO MAP OF SUBDIVISION OF LOTS 1 AND 8. BLOCK 52 OF THE ONE
ACRE SURVEY OF SAN BERNARDINO. IN THE CITY OF SAN BERNARDINO. COUNTY OF SAN BERNARDINO, STATE
OF CALIFOR.~, AS PER PLAT RECORDED IN BOOK 2 OF MAPS. PAGE 26. RECORDS OF SAID COUNTY. DESCRIBED
AS FOLLOWS:
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BEGINNING AT THE SOlJTHEAST CORNER. OF SAID LOT 1; lHENCE NORm 64.375 FEET; THENCE WEST ISO FEET;
THENCE SOUTH 64.375 FEET; THENCE EAST 150 FEET TO THE POINT OF BEGINNING.
PARCEL NO.3:
THE SOUTH 1/2 OF LOT 4. BLOCK 52, OF THE CITY OF SAN BERNARDINO, IN THE CITY OF SAN BERNARDINO,
COUNTY OF SAN BERNARDINO. STATE OF CALIFORNIA. AS PER PLAT RECORDED IN BOOK 7 OF MAPS, PAGE I,
RECORDS OF SAID COUNTY.
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EXHIBIT . A. . Page 3