HomeMy WebLinkAboutResolution No. 06-R06• 0
RESOLUTION NO. 06-R6
A RESOLUTION OF THE AZUSA REDEVELOPMENT AGENCY
BOARD OF DIRECTORS APPROVING AN AGREEMENT FOR
PURCHASE AND SALE AMONG THE AGENCY, THE AZUSA VALLEY
WATER COMPANY AND THE CITY OF AZUSA LIGHT AND WATER
DEPARTMENT PERTAINING TO CERTAIN REAL PROPERTY
COMMONLY KNOWN AS 617 NORTH AZUSA AVENUE (THE
"BREEZEWAY PARCEL") AND PROVIDING FOR THE AGENCY'S
REIMBURSEMENT OF CERTAIN DEMOLITION COSTS IN
CONNECTION THEREWITH
THE BOARD OF DIRECTORS OF THE REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA DOES HEREBY RESOLVE AS FOLLOWS:
WHEREAS, the Redevelopment Agency of the City of Azusa ("Agency") is authorized
by the Community Redevelopment Law (Health & Safety Code Sections 33000 et sec..) and
other applicable law to undertake redevelopment projects in order to best accomplish the
purposes and goals of the redevelopment plans for the Agency's various project areas; and
WHEREAS, The Agency is engaged in activities necessary to execute and implement the
Redevelopment Plan for the Merged Central Business District Project Area ("Project Area"); and
WHEREAS, the Agency has entered, or desires to enter into, that certain "Agreement for
Purchase and Sale" ("Agreement"), a copy of which is attached hereto as Exhibit A, with the
Azusa Valley Water Company ("Water Company") and the City of Azusa Light and Water
Department ("Water Department") for the purposes of acquiring certain real property commonly
known as 617 North Azusa Avenue (APN 8611-004-909) (`Breezeway Parcel") to facilitate the
construction a pedestrian breezeway in the Project Area within the City of Azusa ("Project"); and
WHEREAS, the Agreement also provides for the Agency's reimbursement of certain
expenses in the amount of Fifty Seven Thousand Four Hundred Fifty Dollars ("57,450") in
connection with the demolition of certain improvements previously constructed on the
Breezeway Parcel; and
WHEREAS, the Agency staff, as the lead agency, has determined that pursuant to the
California Environmental Quality Act ("CEQA"), in accordance with State CEQA Guidelines
(14 California Code of Regulations Section 15000 et seq.) Section 15162, the environmental
impacts of the Project are specifically addressed in that certain Negative Declaration dated
October 3, 2003 and adopted by the Agency regarding the approval of that certain "Talley
Building Disposition and Development Agreement" dated as of November 11, 2003, and
subsequently amended, and that no subsequent or supplemental environmental review is
necessary or appropriate because: (i) there have been no substantial changes with respect to the
development of the Project that require revisions to the Negative Declaration, (ii) no substantial
changes have occurred with respect to the development of the Project, and (iii) since the adoption
of the Negative Declaration, no new information of substantial importance has been discovered
with respect to the construction of the Project.
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NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the
Redevelopment Agency of the City of Azusa as follows:
SECTION 1. That certain Purchase and Sale Agreement (Breezeway Parcel) among the
Agency, the Water Company, and the City of Azusa Light & Water Department dated as of
February 21, 2006 is hereby approved and the Executive Director is hereby authorized to execute
the Agreement on behalf of the Agency in substantially the form attached hereto. The Executive
Director is fu Cher authorized, with the concurrence of Agency Counsel, to approve and execute
on behalf of the Agency such non -substantive amendments and implementing documents as may
be convenient to the administration of the Agreement.
SECTION 2. The Board of Directors hereby determines that it can be seen with
certainty that the approval of the Agreement will not result in any direct or indirect
environmental effects, in that the Agreement is simply an agreement to negotiate and does not
commit or permit either the Agency or the Developer to take any actions which could have a
direct or indirect material impact upon the environment. Accordingly, Agency staff is directed to
file a notice of determination pursuant to State CEQA Guidelines Section 15162 and the
Agency's adopted Local CEQA Guidelines with the Los Angeles County Clerk within three (3)
days from the adoption of this Resolution.
SECTION 3. The Secretary shall certify the adoption of this Resolution.
PASSED, APPROVED AND ADOPTED this 21' day of February, 2006.
Chairperson
I HEREBY CERTIFY that the foregoing Resolution No.06-R6, was duly adopted
by the Board of Directors of the City of Azusa Redevelopment Agency, at a regular meeting
hereof, held on the 21st day of February, 2006, by the following vote of the Board.
AYES: DIRECTORS: HARDISON, CARRILLO, ROCHA, HANKS, CHAGNON
NOES: DIRECTORS: NONE
ABSEN DIRECTORS: NONE
Agency Secretary ;
APPROVED AS TO FORM:
By: A
Agency Counsel
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EXHIBIT A
Agreement for Purchase and Sale
[attached behind this page]
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AGREEMENT OF PURCHASE AND SALE
This AGREEMENT OF PURCHASE AND SALE ("Agreement") is dated February 1, 2006
for reference purposes only and is entered into by and among (i) AZUSA VALLEY WATER
COMPANY, a corporation ("Seller"); (ii) REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, apublic body, corporate and politic ("Buyer"); and (iii) CITY OF AZUSA LIGHT AND
WATER DEPARTMENT, a municipal utility owned and operated by the City of Azusa ("Light
and Water Department"). Seller, Buyer and City of Azusa Light and Water Department are
sometimes referred herein individually as "Party" and collectively as "Parties." The Parties have
executed this Agreement on the dates set forth below next to their respective signatures. This
Agreement shall be effective as of the date ("Effective Date"), following all legally required. notices
and hearings, this Agreement has been approved, if applicable, by each Party's governing body or its
delegated representatives, and is signed by all Parties.
RECITALS
A. Seller is the owner in fee of that certain real property located within the City of Azusa,
County of Los Angeles, State of California, commonly known as 617 North Azusa Avenue or
portion of Los Angeles County Assessor Parcel Number 8611-004-909 ("Property"). The Property
is more particularly described in EXHIBIT A attached hereto and incorporated herein by reference.
The term "Property" as used herein shall include all of Seller's right, title and interest in and to any
and all improvements, fixtures, rights -of- way, utility rights, entitlements, claims or other benefits
connected with the Property.
B. The Property is located within the Merged Redevelopment Project Area of the City of
Azusa and, upon the terms and conditions set forth herein, Buyer desires to purchase the Property
from Seller for the purposes of constructing a pedestrian breezeway in the Downtown Central
Business District of the City of Azusa and Seller desires to sell the Property to Buyer.
C. The purchase price to be paid by Buyer for the Property is Thirty -Seven Thousand
Five Hundred Dollars and No Cents ($37,500.00).
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EXHIBIT A
D. City of Azusa Light and Water Department previously expended the sum of Fifty -
Seven Thousand Four Hundred Fifty Dollars ($57,450) as costs to demolish previously -existing
structures on the Property ("Demolition Costs").
E. In undertaking certain actions that are necessary and incidental to carrying out the
Redevelopment Plan previously adopted by the City of Azusa, for purposes of the Merged
Redevelopment Project Area, with the consent of its Board of Directors and for the purpose of
evidencing its intent to purchase the Property at a future date and to reimburse City of Azusa Light
and Water Department for the Demolition Costs, Buyer previously executed and delivered to City of
Azusa Light and Water Department that certain Secured Promissory Note dated March 22, 2004 in
the principal amount of Ninety -Four Thousand Nine Hundred Fifty Dollars and No Cents
($94,950.00) ("2004 Note"), a copy of which is attached hereto as EXHIBIT B and incorporated
herein by reference. Notwithstanding the term "Secured" in the title of the 2004 Note, and reference
therein that the 2004 Note is secured by the Property, no deed of trust or other security instrument
has been executed or delivered by Buyer to secure the 2004 Note.
NOW, THEREFORE, in consideration of the above facts and for the covenants and
agreements contained herein, the Parties hereto agree as follows:
TERMS
1. PURCHASE AND SALE.
1.1 Prope . Seller agrees to sell and convey the Property to Buyer, and Buyer
agrees to purchase the Property from Seller, upon the terms and conditions set forth in this
Agreement.
1.2 Purchase Price. The total purchase price for the Property is Thirty Seven
Thousand Five Hundred Dollars ($37,500) ('Purchase Price").
1.3 Payment of Purchase Price. Buyer shall pay the Purchase Price to Seller by
the execution and delivery to Seller of a promissory note in substantially the same form as attached
hereto as EXHIBIT C and incorporated herein by this reference (Promissory Note"), with the same
interest and payment terms as set forth in the Promissory Note.
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EXHIBIT A
1.4 Grant Deed. Concurrent with the execution and delivery by Buyer to Seller of
the Promissory Note, Seller shall execute and deliver to Buyer a grant deed for conveyance of the
Property to Seller in substantially the same form as attached hereto as EXHIBIT D and incorporated
herein by reference ("Grant Deed"). Buyer and Seller shall cause the Grant Deed to be recorded in
the Official Records of the County of Los Angeles and shall obtain conformed copies thereof for all
Parties. Buyer shall pay the costs, if any, associated with recording the Grant Deed.
1.5 Conveyance Date. For purposes of this Agreement, the term "Conveyance"
means the recording of the Grant Deed in the Official Records of Los Angeles County, California.
The Conveyance shall occur on or before thirty (30) days following the Effective Date ("Outside
Conveyance Date"). In the event the Conveyance does not occur by the Outside Conveyance Date,
then any Party who is not then in default of the terms of this Agreement may terminate this
Agreement by giving written notice of termination to the other Parties at any time prior to occurrence
of the Conveyance. If no notice of termination is given, then the Conveyance shall be accomplished
as soon as possible.
1.6 Condition Precedent to Conveyance. The Conveyance is conditioned upon the
receipt by Buyer and Seller of the Title Commitment required pursuant to Section 2.2 herein, or
Buyer's waiver thereof.
1.7 Demolition Costs — Quitclaim Deed. No later than five (5) business days
following the Conveyance, Buyer shall pay to City of Azusa Light and Water Department, in cash, a
sum equal to the Demolition Costs as and for reimbursement to City of Azusa Light and Water
Department for payment of the Demolition Costs. Concurrent with payment of said sum to City of
Azusa Light and Water Department by Buyer, City of Azusa Light and Water Department shall: (i)
cancel and surrender the 2004 Note to Buyer; and (ii) execute and deliver to Buyer a quitclaim deed
remising, releasing and quitclaiming to Buyer all of City of Azusa Light and Water Department's
rights, title and interest in and to the Property, in substantially the same form as attached hereto as
EXHIBIT E and incorporated herein by reference ("Quitclaim Deed"). Buyer and City of Azusa
Light and Water Department shall cause the Quitclaim Deed to be recorded in the Official Records
of the County of Los Angeles and shall obtain conformed copies thereof for all Parties. Buyer shall
pay the costs, if any, associated with recording the Quitclaim Deed.
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2. TITLE REPORT AND TITLE POLICY.
2.1 Title Report. Within five (5) business days following the Effective Date,
Buyer shall obtain, and provide a copy to Seller, a standard preliminary report for the Property from
First American Title Company ("Title Company"), together with the underlying documents relating
to the Schedule B exceptions set forth in such report (collectively, the "Title Report").
2.2. Title Policy. It is a condition to the execution and delivery by Buyer of the
Promissory Note and the execution and delivery by Seller of the Grant Deed, for Buyer's benefit, that
fee title to the Property and the right to possession to any portion of the Property conveyed to Buyer
pursuant to this Agreement shall be subject only to matters affecting the condition of title disclosed
in the Title Report that are approved in writing by Buyer ("Permitted Exceptions"), as evidenced by
the receipt by Buyer of an irrevocable commitment from Title Company to issue to Buyer, upon
recording of the Grant Deed, its Standard Owner's Form Policy of Title Insurance ("Title Policy") in
an amount equal to the total of the Purchase Price and the Demolition Costs showing title to the
Property vested in Buyer, subject only to the Permitted Exceptions ("Title Commitment"). Buyer
may, at its option and cost, request any title endorsements or any increased coverage amounts to the
Title Policy. Buyer shall pay all costs of the Title Policy.
POSSESSION.
Buyer shall be entitled to possession of the Property immediately upon the execution
and delivery of the Grant Deed.
4. DOCUMENTS AND MATERIALS.
Seller shall furnish, within ten (10) days following the Effective Date, to Buyer any
and all documents and materials respecting the Property that are within Seller's possession and
control. Seller does not warrant or certify the accuracy, adequacy or completeness of any such
documents and materials.
5. MISCELLANEOUS.
5.1 Amendment; Modification; Waiver. No change or modification of the terms
or provisions of this Agreement shall be deemed valid unless in writing and signed by all Parties. No
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EXHIBIT A
obligations shall be considered waived unless waived by written instrument signed by the waiving
Party, or a duly authorized agent thereof.
5.2 Attorneys' Fees. In the event of any action or proceeding to enforce or
construe any of the provisions of this Agreement; the prevailing Party in any such action or
proceeding shall be entitled to attorneys' fees and costs.
5.3 Authori . Each Party hereby covenants and represents to the other Parties
that it has the legal power, right and authority to enter into this Agreement and the instruments
referenced herein, and to consummate the transactions contemplated hereby.
5.4 Entire Agreement. This Agreement (including all exhibits attached hereto) is
the final expression of and contains the entire agreement between the Parties with respect to the
subject matter hereof and supersedes all prior understandings with respect thereto. The Parties do no
intend to confer any benefit hereunder on any person, firm or corporation other than the Parties
hereto.
5.5 Countemarts. This Agreement maybe executed in counterparts and when so
executed by the Parties, shall become binding upon them and each such counterpart will be an
original document.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of
the date(s) set forth below next to their respective signatures.
[signatures on following pages]
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EXHIBIT A
SIGNATURE PAGE TO
AGREEMENT OF PURCHASE AND SALE
SELLER:
AZUSA VALLEY WATER COMPANY, a
corporation
By: AZUSA PUBLIC FINANCING
AUTHORITY, a joint powers authority
of the City of Azusa
Its: Sole Member
By:
Diane Chagnon, Mayor of the
City of Azusa
Its: President
Date:
ATTEST:
Secretary
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EXHIBIT A
SIGNATURE PAGE TO
AGREEMENT OF PURCHASE AND SALE
BUYER:
REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, a public body, corporate and politic
By:
Francis M. Delach
Its: Executive Director
Date:
ATTEST:
By:
Agency Secretary
APPROVED AS TO FORM:
BEST BEST & KRIEGER LLP
By:
Agency Counsel
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ATTEST:
LE
City Clerk
EXHIBIT A
SIGNATURE PAGE TO
AGREEMENT OF PURCHASE AND SALE
CITY OF AZUSA LIGHT AND WATER
DEPARTMENT:
CITY OF AZUSA LIGHT AND WATER
DEPARTMENT, a municipal utility owned and
operated by the City of Azusa
to
Joseph Hsu
Its: Director of Utilities
Date:
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EXHIBIT A
EXHIBIT A TO
AGREEMENT OF PURCHASE AND SALE
Legal Description of Property
LOT 41, IN THE CITY OF AZUSA, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA,
AS SHOWN ON THE MAP OF AZUSA, RECORDED IN BOOK 15, PAGES 93-96 INCLUSIVE
OF MISCELLANEOUS RECORDS OF SAID COUNTY.
EXCEPTING THEREFROM THAT PORTION OF SAID LOT 41 DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEASTERLY CORNER OF SAID LOT 41; THENCE ALONG THE
SOUTHERLY LINE OF SAID LOT NORTH 890 69'31" WEST 37.33 FEET TO THE TRUE
POINT OF BEGINNING; THENCE CONTINUING ALONG SAID SOUTHERLY LINE NORTH
890 59' 31" WEST 3133 FEET; THENCE LEAVING SAID SOUTHERLY LINE NORTH 00'00'
29" EAST 14.17 FEET TO A POINT ON A LINE BEING PARALLEL WITH AND 14.17 FEET
NORTHERLY OF SAID SOUTHERLY LINE; THENCE ALONG SAID PARALLEL LINE
SOUTH 890 59'31" EAST 31.33 FEET; THENCE SOUTH 00° 00'29" WEST 14.17 FEET TO
THE TRUE POINT OF BEGINNING
[CONTAINS 3055 SQUARE FEET, MORE OR LESS]
[PORTION APN 8611-004-909
EXHIBIT A
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IWA
EXHIBIT B TO
AGREEMENT OF PURCHASE AND SALE
2004 Note
[attached behind this page]
EXHIBIT B
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EXHIBIT C TO
AGREEMENT OF PURCHASE AND SALE
Form of Promissory Note
[attached behind this page]
EXHIBIT C
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EXHIBIT A
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REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
PROMISSORY NOTE
(Azusa Valley Water Company)
Dated:
Principal Amount: $37,500.00
Rate of Interest: Five Percent (5%) per annum
Term: Five (5) Years
THIS PROMISSORY NOTE ("Note") evidences an indebtedness of the
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public body, corporate and politic
("Agency") to the AZUSA VALLEY WATER COMPANY, a corporation ("AVWC"). For value
received, the Agency hereby promises to pay to the order of AV W C, at such address as AV W C shall
designate, the principal sum of Thirty -Seven Thousand Five Hundred Dollars and No Cents
($37,500.00) at the times specified in this Note, together with interest accrued thereon in accordance
with the terms of this Note. This Note is hereby tendered in accordance with that certain Agreement
of Purchase and Sale dated as of February 1, 2006 for reference purposes only ("Agreement'), by
and between AVWC and the Agency.
SECTION 1. This Note is tendered by the Agency to AV WC as and for payment
of the Purchase Price for certain real property conveyed pursuant to the Agreement. The terms and
provisions of the Agreement are incorporated into this Note by this reference. Capitalized terms
used in this Note and not otherwise defined in this Note shall have the meaning ascribed to them in
the Agreement.
SECTION 2. Interest on the outstanding principal balance of this Note shall
accrue from the date of this Note, at the rate of five percent (5%) per annum.
SECTION 3. The Agency shall pay the principal amount and all accrued interest
thereon as follows: The Agency shall pay a total of five (5) successive, annual installments in the
amount of Eight Thousand Six Hundred and Sixty -Two Dollars and No Cents ($8,6662.00)
each, payable on the first, second, third, fourth and fifth year anniversary dates, respectively, of this
Note. The fifth and final payment shall be increased or decreased, as necessary, to equal the entire
then -outstanding principal balance, accrued interest and all other sums due and payable under this
Note.
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EXHIBIT A
SECTION 4. This Note shall mature on the fifth (5`h) year anniversary date of
this Note ("Maturity Date"), unless prepaid in full before such date. The entire then -outstanding
principal balance, accrued interest and all other sums due and payable under this Note shall be
immediately due and payable upon the Maturity Date, and the Agency shall tender to the Agency
such amount on or before the Maturity Date.
SECTION 5. The Agency may prepay the principal amount of this Note and
accrued interest thereon, at any time, without penalty.
SECTION 6. AWWC shall have no power to transfer or assign its right to
receive the payment of principal and payments of accrued interest under this Note, unless the Agency
has first granted written approval to AV WC for such a proposed assignment, in the Agency's sole
and absolute discretion.
SECTION 7. Each payment made hereunder shall be credited first to interest
then accrued and the remainder, if any, to principal Interest shall cease to accrue upon principal so
credited.
SECTION 8. Principal and interest are payable in lawful money of the United
States of America.
Executed at Azusa, California.
REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, a public body, corporation and politic
Francis M. Delach
Its: Executive Director
ATTEST:
Agency Secretary
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EXHIBIT A
EXHIBIT D TO
AGREEMENT OF PURCHASE AND SALE
Form of Grant Deed
[attached behind this page]
EXHIBIT D
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RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
Redevelopment Agency of the
City of Azusa
213 East Foothill Boulevard
Azusa, CA 91702
Portion APN 8611-004-909 Exempt from Recording Fees per Govt. Code §27383
Exempt from Documentary Transfer Tax per Calif. Rev. & Tax. Code § 11922
GRANT DEED
FOR VALUE RECEIVED, receipt of which is hereby acknowledged,
AZUSA VALLEY WATER COMPANY, a corporation,
hereby grants to
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public body, corporate
and politic,
all that certain real property situated in the City of Azusa, County of Los Angeles, State of
California, more fully described in EXHIBIT A attached hereto and incorporated herein by reference.
Dated:
AZUSA VALLEY WATER COMPANY,
a corporation
By: AZUSA PUBLIC FINANCING
AUTHORITY, a joint powers authority of
the City of Azusa
Its: Sole Member
By:
Diane Chagnon, Mayor of the
City of Azusa
Its: President
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EXHIBIT A TO
GRANT DEED
Legal Description of Property
LOT 41, IN THE CITY OF AZUSA, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA,
AS SHOWN ON THE MAP OF AZUSA, RECORDED IN BOOK 15, PAGES 93-96 INCLUSIVE
OF MISCELLANEOUS RECORDS OF SAID COUNTY.
EXCEPTING THEREFROM THAT PORTION OF SAID LOT 41 DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEASTERLY CORNER OF SAID LOT 41; THENCE ALONG THE
SOUTHERLY LINE OF SAID LOT NORTH 890 69'31" WEST 37.33 FEET TO THE TRUE
POINT OF BEGINNING; THENCE CONTINUING ALONG SAID SOUTHERLY LINE NORTH
89d59'31" WEST 31.33 FEET; THENCE LEAVING SAID SOUTHERLY LINE NORTH 000 00'
29" EAST 14.17 FEET TO A POINT ON A LINE BEING PARALLEL WITH AND 14.17 FEET
NORTHERLY OF SAID SOUTHERLY LINE; THENCE ALONG SAID PARALLEL LINE
SOUTH 890 59'31" EAST 31.33 FEET; THENCE SOUTH 00° 00'29" WEST 14.17 FEET TO
THE TRUE POINT OF BEGINNING
[CONTAINS 3055 SQUARE FEET, MORE OR LESS]
[PORTION APN 8611-004-909]
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NOTARY ACKNOWLEDGMENT
(California All -Purpose Acknowledgment)
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
loin
ss.
2006 before me,
notary public,
personally appeared , 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 he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature of Notary Public
ATTACHED TO: GRANT DEED
[Portion APN 8611-004-9091
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REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
CERTIFICATE OF ACCEPTANCE OF
GRANT DEED
This Certificate of Acceptance pertains to the interest in real property conveyed by the Grant
Deed dated to which this Certificate of Acceptance is attached,
from: AZUSA VALLEY WATER COMPANY, a corporation
to: REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public
body, corporate and politic ("Grantee")
Said Grant Deed is hereby accepted by the undersigned officer on behalf of Grantee pursuant
to authority conferred by the Grantee's governing board, and Grantee hereby consents to recordation
of such Grant Deed.
Dated:
ATTEST:
Agency Secretary
REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, a public body, corporate and politic
LE
Francis M. Delach
Its: Executive Director
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EXHIBIT E TO
AGREEMENT OF PURCHASE AND SALE
Form of Quitclaim Deed
[attached behind this page]
EXHIBIT E
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RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
Redevelopment Agency of the
City of Azusa
213 East Foothill Boulevard
Azusa, CA 91702
Portion APN 8611-004-909 Exempt from Recording Fees per Govt. Code §27383
Exempt from Documentary Transfer Tax per Calif. Rev. & Tax. Code § 11922
QUITCLAIM DEED
FOR VALUE RECEIVED, receipt of which is hereby acknowledged,
CITY OF AZUSA LIGHT AND WATER DEPARTMENT, a municipal utility owned
and operated by the City of Azusa
does here remise, release and forever quitclaim to
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public body, corporate
and politic,
all its rights, title and interest in that certain real property situated in the City of Azusa, County of
Los Angeles, State of California, more fully described in EXHIBIT A attached hereto and
incorporated herein by reference.
Dated:
DEPARTMENT,a
CITY OF AZUSA LIGHT AND WATER
municipal utility owned and operated by the City of
Azusa
go
Its:
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EXHIBIT A TO
QUITCLAIM DEED
Legal Description of Property
LOT 41, IN THE CITY OF AZUSA, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA,
AS SHOWN ON THE MAP OF AZUSA, RECORDED IN BOOK 15, PAGES 93-96 INCLUSIVE
OF MISCELLANEOUS RECORDS OF SAID COUNTY.
EXCEPTING THEREFROM THAT PORTION OF SAID LOT 41 DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEASTERLY CORNER OF SAID LOT 41; THENCE ALONG THE
SOUTHERLY LINE OF SAID LOT NORTH 890 69'31" WEST 37.33 FEET TO THE TRUE
POINT OF BEGINNING; THENCE CONTINUING ALONG SAID SOUTHERLY LINE NORTH
890 59'3 1 " WEST 31.33 FEET; THENCE LEAVING SAID SOUTHERLY LINE NORTH 00'00'
29" EAST 14.17 FEET TO A POINT ON A LINE BEING PARALLEL WITH AND 14.17 FEET
NORTHERLY OF SAID SOUTHERLY LINE; THENCE ALONG SAID PARALLEL LINE
SOUTH 890 59'31" EAST 31.33 FEET; THENCE SOUTH 00° 00'29" WEST 14.17 FEET TO
THE TRUE POINT OF BEGINNING
[CONTAINS 3055 SQUARE FEET, MORE OR LESS]
[PORTION APN 8611-004-9091
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NOTARY ACKNOWLEDGMENT
(California All -Purpose Acknowledgment)
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On
) ss.
2006 before me,
notarypublic,
personally appeared , personally known tome (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 he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature of Notary Public
ATTACHED TO: QUITCLAIM DEED
[Portion APN 8611-004-909]
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REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
CERTIFICATE OF ACCEPTANCE OF
QUITCLAIM DEED
This Certificate of Acceptance pertains to the interest in real property conveyed by the
Quitclaim Deed dated to which this Certificate of Acceptance is attached,
from: CITY OF AZUSA LIGHT AND WATER DEPARTMENT, a municipal utility
owned and
operated by the City of Azusa
to: REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public
body, corporate and politic ("Grantee")
Said Quitclaim Deed is hereby accepted by the undersigned officer on behalf of Grantee
pursuant to authority conferred by the Grantee's governing board, and Grantee hereby consents to
recordation of such Grant Deed.
Dated:
ATTEST:
Agency Secretary
REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, a public body, corporate and politic
Francis M. Delach
Its: Executive Director
RVPUBVSB-DKG\706791.4 E-4
0 0
SECURED PROMISSORY NOTE
MERGED REDEVELOPMENT PROJECT AREA
AZUSA, CALIFORNIA
MARCH 22,204
For value received, the REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public body corporate and
politic ("Agency") promises to pay the CITY OF AZUSA WATER DEPARTMENT, a municipal corporation and
general law city organized and existing under the laws of the State of California ("City"), the principal sum of Ninety -
Four Thousand Nine Hundred Fifty Dollars ($94,950) forthe demolition of improvements on, and acquisition of, 617
North Azusa Avenue ("Property'l. Of the total loan amount, $57,450 is due and payable immediately upon
conveyance of the Property, at zero (0%) percent interest. The remaining $37,500 will accrue interest at the Tate of five,
(5%) percent per annum, and Aril] be payable over a term of five (5) years. Interest is payable annually, beginning on
the first anniversary date of conveyance of the Property, and is accrued beginning on the date of conveyance of the
Property. TheNoteissecured bytheProperty. The principal balance is tobepaidinfive annualinstallments, withthe
last installment due and payable on or before the fifth anniversary of conveyance of the Property. The Note is payable
from tax increment revenues in excess of those pledged for Agency bonded indebtedness and/or any other resources
available to the Agency from which such payment may legally be made, allocated to and received by the Agency for the
Merged Redevelopment Project Area, The Note may be prepaid at any time without penalty.
This note is issued in connection with the provision of funds to finance redevelopment activities of the Merged
Redevelopment Project Area. The Merged Project provides for tax increment financing in accordance with the
provisions of the California Health and Safety Code. The Agency is authorized, with the consent of the Board of
Directors, to undertake certain actions which are necessary and incidental to carrying out the Redevelopment Plan
which has previously been adopted by the City of Azusa, for purposes of the Merged Redevelopment Project area. The
City Council has authorized the loan for purposes of funding acquisition of 617 North Azusa Avenue for the purposes
of constructing a Pedestrian Breezeway in Downtown Central Business District. This note is issued under the authority
and pursuant to the Community Redevelopment law,commencing with Section 33600 ofthe Health and Safety Code
of the State of California, as amended-
. REFERENCE: The Merged Redevelopment Project
Each payment shall be credited first to principal due and the remainder to interest; and interest shall thereupon cease
upon the principal so credited_ Any unpaid interest shall accrue and be added to the outstanding principal balance. In
event of default in payment of any amount as herein provided, then the entire amount shall become due at the option of
the City of Azusa. Principal and interest shall be payable in lawful money of the United States at Azusa, California.
Demand, presentment for payment, protest and notice of protest are hereby waived.
REDEVELOPMENT AGENCY OF THE
CITY OF AZUSA
Ex cutive Director
PEDESTRIAN BREEZEWAY PROPERTY
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U:\WPROOCORRESPO\PGENDA\677NAzusaAcgnNae dor
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0 0
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
PROMISSORY NOTE
(Azusa Valley Water Company)
Dated:
Principal Amount: $37,500.00
Rate of Interest: Five Percent (5%) per annum
Term: Five (5) Years
EXHIBIT C
THIS PROMISSORY NOTE ("Note") evidences an indebtedness of the
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public body, corporate and
politic ("Agency") to the AZUSA VALLEY WATER COMPANY, a corporation ("AVWC").
For value received, the Agency hereby promises to pay to the order of AVWC, at such address as
AVWC shall designate, the principal sum of Thirty -Seven Thousand Five Hundred Dollars and
No Cents ($37,500.00) at the times specified in this Note, together with interest accrued thereon
in accordance with the terms of this Note. This Note is hereby tendered in accordance with that
certain Agreement of Purchase and Sale dated as of February 1, 2006 for reference purposes only
("Agreement"), by and between AVWC and the Agency.
SECTION 1. This Note is tendered by the Agency to AVWC as and for
payment of the Purchase Price for certain real property conveyed pursuant to the Agreement.
The terns and provisions of the Agreement are incorporated into this Note by this reference.
Capitalized terms used in this Note and not otherwise defined in this Note shall have the meaning
ascribed to them in the Agreement. .
SECTION 2. Interest on the outstanding principal balance of this Note shall
accrue from the date of this Note, at the rate of five percent (5%) per annum.
SECTION 3. The Agency shall pay the principal amount and all accrued
interest thereon as follows: The Agency shall pay a total of five (5) successive, annual
installments in the amount of Eight Thousand Six Hundred and Sixty -Two Dollars and No
Cents ($8,662.00) each, payable on the first, second, third, fourth and fifth year anniversary
dates, respectively, of this Note. The fifth and final payment shall be increased or decreased, as
necessary, to equal the entire then -outstanding principal balance, accrued interest and all other
sums due and payable under this Note.
RVPU13\JSB-DKG\707615.1 1
EXHIBIT C
SECTION 4. This Note shall mature on the fifth (5`h) year anniversary date
of this Note ("Maturity Date"), unless prepaid in full before such date. The entire then -
outstanding principal balance, accrued interest and all other sums due and payable under this
Note shall be immediately due and payable upon the Maturity Date, and the Agency shall tender
to the Agency such amount on or before the Maturity Date.
SECTION 5. The Agency may prepay the principal amount of this Note and
accrued interest thereon, at any time, without penalty.
SECTION 6. AWWC shall have no power to transfer or assign its right to
receive the payment of principal and payments of accrued interest under this Note, unless the
Agency has first granted written approval to AVWC for such a proposed assignment, in the
Agency's sole and absolute discretion.
SECTION 7. Each payment made hereunder shall be credited first to interest
then accrued and the remainder, if any, to principal Interest shall cease to accrue upon principal
so credited.
SECTION 8. Principal and interest are payable in lawful money of the
United States of America.
Executed at Azusa, California.
REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, a public body, corporation and politic
Francis M. Delach
Its: Executive Director
ATTEST:
Agency Secretary
RVPUBVSB-DKG\707615.1 2
• •.
EXHIBIT D
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
Redevelopment Agency of the
City of Azusa
213 East Foothill Boulevard
Azusa, CA 91702
Portion APN 8611-004-909 Exempt from Recording Fees per Govt. Code §27383
Exempt from Documentary Transfer Tax per Calif. Rev. & Tax. Code §11922
GRANT DEED
FOR VALUE RECEIVED, receipt of which is hereby acknowledged,
AZUSA VALLEY WATER COMPANY, a corporation,
hereby grants to
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public body,
corporate and politic,
all that certain real property situated in the City of Azusa, County of Los Angeles, State of
California, more fully described in EXHIBIT A attached hereto and incorporated herein by
reference.
Dated:
RV PUB\DGILSON\707616.1
AZUSA VALLEY WATER COMPANY,
a corporation
By: AZUSA PUBLIC FINANCING
AUTHORITY, a joint powers authority of
the City of Azusa
Its: Sole Member
By:
Diane Chagnon, Mayor of the
City of Azusa
Its: President
EXHIBIT D
EXHIBIT A TO
GRANT DEED
Legal Description of Property
LOT 41, IN THE CITY OF AZUSA, COUNTY OF LOS ANGELES, STATE OF
CALIFORNIA, AS SHOWN ON THE MAP OF AZUSA, RECORDED IN BOOK 15, PAGES
93-96 INCLUSIVE OF MISCELLANEOUS RECORDS OF SAID COUNTY.
EXCEPTING THEREFROM THAT PORTION OF SAID LOT 41 DESCRIBED AS
FOLLOWS:
BEGINNING AT THE SOUTHEASTERLY CORNER OF SAID LOT 41; THENCE ALONG
THE SOUTHERLY LINE OF SAID LOT NORTH 890 69'31" WEST 37.33 FEET TO THE
TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID SOUTHERLY
LINE NORTH 890 59' 31" WEST 31.33 FEET; THENCE LEAVING SAID SOUTHERLY
LINE NORTH 000 00'29" EAST 14.17 FEET TO A POINT ON A LINE BEING PARALLEL
WITH AND 14.17 FEET NORTHERLY OF SAID SOUTHERLY LINE; THENCE ALONG
SAID PARALLEL LINE SOUTH 890 59'31" EAST 31.33 FEET; THENCE SOUTH 000 00'
29" WEST 14.17 FEET TO THE TRUE POINT OF BEGINNING
[CONTAINS 3055 SQUARE FEET, MORE OR LESS]
[PORTION APN 8611-004-9091
RVPUMDGILSOM707616.1 EXHIBIT A
NOTARY ACKNOWLEDGMENT
(California All -Purpose Acknowledgment)
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On
ss.
2006 before me,
EXHIBIT D
notary
public, personally appeared , 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 he/she/they executed the
same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the
instrument.
WITNESS my hand and official seal.
ATTACHED TO
RV PUMI)G[LSOM707616.1
Signature of Notary Public
GRANT DEED
[Portion APN 8611-004-9091
• 0
EXHIBIT D
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
CERTIFICATE OF ACCEPTANCE OF
GRANT DEED
This Certificate of Acceptance pertains to the interest in real property conveyed by the
Grant Deed dated to which this Certificate of Acceptance is attached,
from: AZUSA VALLEY WATER COMPANY, a corporation
to: REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public
body, corporate and politic ("Grantee")
Said Grant Deed is hereby accepted by the undersigned officer on behalf of Grantee
pursuant to authority conferred by the Grantee's governing board, and Grantee hereby consents
to recordation of such Grant Deed.
Dated:
ATTEST:
Agency Secretary
RV PUB\DGILSON\707616.1
REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, a public body, corporate and politic
Francis M. Delach
Its: Executive Director
EXHIBIT E
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
Redevelopment Agency of the
City of Azusa
213 East Foothill Boulevard
Azusa, CA 91702
Portion APN 8611-004-909 Exempt from Recording Fees per Govt. Code §27383
Exempt from Documentary Transfer Tax per Calif. Rev. & Tax. Code § 11922
QUITCLAIM DEED
FOR VALUE RECEIVED, receipt of which is hereby acknowledged,
CITY OF AZUSA LIGHT AND WATER DEPARTMENT, a municipal utility
owned and operated by the City of Azusa
does here remise, release and forever quitclaim to
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public body,
corporate and politic,
all its rights, title and interest in that certain real property situated in the City of Azusa, County of
Los Angeles, State of California, more fully described in EXHIBIT A attached hereto and
incorporated herein by reference.
Dated:
DEPARTMENT,a
RVPUB\DGILSONVV 07617.1
CITY OF AZUSA LIGHT AND WATER
municipal utility owned and operated by the City of
Azusa
0
Its:
0 0
EXHIBIT E
EXHIBIT A TO
QUITCLAIM DEED
Legal Description of Property
LOT 41, IN THE CITY OF AZUSA, COUNTY OF LOS ANGELES, STATE OF
CALIFORNIA, AS SHOWN ON THE MAP OF AZUSA, RECORDED IN BOOK 15, PAGES
93-96 INCLUSIVE OF MISCELLANEOUS RECORDS OF SAID COUNTY.
EXCEPTING THEREFROM THAT PORTION OF SAID LOT 41 DESCRIBED AS
FOLLOWS:
BEGINNING AT THE SOUTHEASTERLY CORNER OF SAID LOT 41; THENCE ALONG
THE SOUTHERLY LINE OF SAID LOT NORTH 890 69'31" WEST 37.33 FEET TO THE
TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID SOUTHERLY
LINE NORTH 890 59' 31" WEST 31.33 FEET; THENCE LEAVING SAID SOUTHERLY
LINE NORTH 000 00'29" EAST 14.17 FEET TO A POINT ON A LINE BEING PARALLEL
WITH AND 14.17 FEET NORTHERLY OF SAID SOUTHERLY LINE; THENCE ALONG
SAID PARALLEL LINE SOUTH 890 59'31" EAST 31.33 FEET; THENCE SOUTH 00° 00'
29" WEST 14.17 FEET TO THE TRUE POINT OF BEGINNING
[CONTAINS 3055 SQUARE FEET, MORE OR LESS]
[PORTION APN 8611-004-909]
RVPUMDGILSON767617.1 EXHIBIT A
NOTARY ACKNOWLEDGMENT
(California All -Purpose Acknowledgment)
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On
public, personally appeared
ss.
2006 before me,
EXHIBIT E
notary
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 he/she/they executed the
same in his/her/their authorized capacity(ies), and, that by his/her/their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the
instrument.
WITNESS my hand and official seal.
ATTACHED TO:
RV PUBOGILSOM707617.1
Signature of Notary Public
QUITCLAIM DEED
[Portion APN 8611-004-909]
0 0
EXHIBIT E
REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
CERTIFICATE OF ACCEPTANCE OF
QUITCLAIM DEED
This Certificate of Acceptance pertains to the interest in real property conveyed by the
Quitclaim Deed dated to which this Certificate of Acceptance is
attached,
from: CITY OF AZUSA LIGHT AND WATER DEPARTMENT, a municipal
utility owned and
operated by the City of Azusa
to: REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, a public
body, corporate and politic ("Grantee")
Said Quitclaim Deed is hereby accepted by the undersigned officer on behalf of Grantee
pursuant to authority conferred by the Grantee's governing board, and Grantee hereby consents
to recordation of such Grant Deed.
Dated:
ATTEST:
Agency Secretary
RV PUB\DGILSON\707617.1
REDEVELOPMENT AGENCY OF THE CITY OF
AZUSA, a public body, corporate and politic
Francis M. Delach
Its: Executive Director