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HomeMy WebLinkAboutResolution No. 79920 6 JHHW:ACH:cmw 02/05/86 H7144 02/06/86 RESOLUTION NO. 7092 A RESOLUTION APPROVING AND DIRECTING THE EXECUTION OF A SUPPLEMENTAL TRUST AGREEMENT AND AMENDMENT TO LEASE -PURCHASE AGREEMENT AND TO SITE AGREEMENT BETWEEN FIRST INTERSTATE BANK OF CALIFORNIA, AS TRUSTEE, THE CITY OF AZUSA AND .F_ M LEASING CORPORATION RELATING TO THE CITY'S MUNICIPAL FACILITIES PROJECT, AND PROVIDING OTHER MATTERS PROPERLY RELATING THERETO CITY OF AZUSA (MUNICIPAL FACILITIES PROJECT) RESOLVED, by the City Council of the City of Azusa, as follows: WHEREAS, the City and E M Leasing Company (the "Leasing Company") have entered into a Lease -Purchase Agreement dated is of .0:p.6t 1, 1985 (the "Lease -Purchase Agreement"), whereby Leasing Company has agrAed to construct on the respective parcels of land constituting the Site, which Site is owned by the City and has been leased by the City to the Leasing Company pursuant to the Site Lease (the "Site Agreement"), certain senior citizen facilities and improvements to the City Hall of the City (collectively, the "Municipal Facilities Project" or the "Project"), and to lease the Project and to sublease the Site to the City, and the City has agreed to lease the Project and to sublease the Site from Leasing Company, in the manner and on the terms set forth in the Lease -Purchase Agreement; WHEREAS, under the Lease -Purchase Agreement, the City is obligated to make Lease Payments to Leasing Company for the use anii occupancy of the Project and the Site, and Leasing Company has assigned the Lease•Payments to the Trustee pursuant to the Assignment Agreement dated as of August 1, 1985; WHEREAS, to provide for the execution and delivery of Certificates, each evidencing a proportionate interest in the Lease Payments, and for the repayment of the Certificates, and for application of moneys required to be 0 0 deposited by Leasing Company for the financing of the Project, First Interstate Bank of California, as trustee (the "Trustee"), the Leasing Company and the City entered into a Trust Agreement (the "Trust Agreement"), dated August 1, 1985; and WHEREAS, the Trustee, the Leasing Company and the City desire to amend the legal description of the Site, as set forth in Exhibit A to both the Lease -Purchase Agreement and the Site Agreement, to reflect accurately the parcels intended to be included therein, such amendment being authorized by Section 12.02 of the Trust Agreement and all as more particularly set forth in the Supplemental Trust Agreement and Amendment to Lease -Purchase Agreement and to Site Agreement, in form presented to and reviewed by the City Council; NOW, THEREFORE, IT IS HEREBY ORDERED, as follows: 1. The Supplemental Trust Agreement and Amendment to Lease -Purchase Agreement and to Site Agreement, in form presented to and reviewed by the City Council, is hereby approved and the Mayor shall execute such Agreement on behalf of the City and the City Clerk shall attest his signature thereto and shall affix thereto the corporate seal of the City. 2. The Mayor, City Clerk, City Manager and any and all other officers of the City are hereby authorized and directed, for and in the name and on behalf of the City, to do any and all things and take any and all actions, and to execute and deliver any and all certificates, requisitions and agreements, which they, or any of them, may deem necessary or advisable in execution of the provisions of the Supplemental Trust Agreement and Amendment to Lease -Purchase Agreement and to Site Agreement. 3. This Resolution shall take effect from and after its adoption. -2- 0 0 PASSED AND ADOPTED on March 3, 1986, by the following vote: AYES: COUNCILMEMBERS: CRUZ, COOK, CAMARENA, LATTA, MOSES NOES: COUNCILMEMBERS: NONE ABSENT: COUNCILMEMBERS: NONE (S EA L) Attest: 1'—ZeI4 ity Clerk -3- !n Pm Z e Mayor EXHIBIT A PROPERTY DESCRIPTION Situate in the City of Azusa, County of Los Angeles, State of California and described as follows: PARCEL 1 Lot 23, in Block 18 of Azusa, in the City of Azusa, as per map recorded in Book 15, pages 93 through 96 inclusive, of Miscellaneous Records, in the office of the County Recorder of said County. PARCEL 2 Lot 24 in Block 18 of Azusa, in the City of Azusa, as per map recorded in Book 15, pages 93 through 96 inclusive, of Miscellaneous Records, in the office of the County Recorder of said County. PARCEL 3 Lots 15 through 20 inclusive, and Lots 46 through 48 inclusive, in Block 30 of Azusa, in the City of Azusa, as per map recorded in Book 15, pages 93 through 96 inclusive, of Miscellaneous Records, in the office of the County Recorder of said County. PARCEL 4 Lot 15 of Block 31 of Azusa Tract, in the City of Azusa, as per Map recorded in Book 15, pages 93 through 96 inclusive, of Miscellaneous Records, in the office of the County Recorder of said County. PARCEL 5 Lot 22 in Block 18 of Azusa, in the City of Azusa, as per Map recorded in Book 15, pages 93 through 96 inclusive, of Miscellaneous Records, in the office of the County Recorder of said County. PARCEL 6 Lot 12 of Block 31 of the City of Azusa, County of Los Angeles, State of California, as per map recorded in Book 15, page 93, of Miscellaneous Records, in the office of the County Recorder of said County. PARCEL 7 The north 10 feet of Lot 13 and all of Lot 14 in Block 31 of the City of Azusa in the County of Los Angeles, State of California, as per map recorded in Book 15, pages 93 through 96 inclusive, of Miscellaneous Records, in the office of the County Recorder of said County. PARCEL 8 The south 40 feet of Lot 13 in Block 31 of Azusa, in the City of Azusa, County of Los Angeles, State of California, as per map recorded in Book 15, pages 93 through 96 inclusive, of Miscellaneous Records, in the office of the County Recorder of said County. 0 Page 2/EXHIBIT A PARCEL 9 0 Beginning at the northeast corner of Lot 22 of Block 18, Map of Azusa as recorded in Miscellaneous Records 43, page 94, thence north 61.40 feet to the beginning of a curve concave southeast having a radius of 5659.65, then south westerly an arc distance of 154.59 and delta of 10 33' 54" to the easterly line of Dalton Avenue, 80 feet wide thence south to the northwest corner of said Lot 22 thence northeasterly along the north line of said Lot 22 to the point of beginning. PARCEL 10 Beginning at the southeast corner of Lot 24 of Block 18, Map of Azusa as recorded in Miscellaneous Record 43, page 94, thence west 150.00 feet thence south 60.00 feet, thence east 150.00 feet, thence north 60.00 feet to the point of beginning.