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HomeMy WebLinkAboutC35820 - PSA - APN 694-060-010 - CVWDCONTRACT NO. C35820 CITY OF PALM DESERT ECONOMIC DEVELOPMENT DEPARTMENT STAFF REPORT REQUEST: AUTHORIZATION FOR THE MAYOR TO EXECUTE A PURCHASE AND SALE AGREEMENT WITH COACHELLA VALLEY WATER DISTRICT (CVWD) TO PURCHASE THE .67 ACRE WELL SITE PROPERTY, APN: 694-060-010 SUBMITTED BY: PROPERTY: BUYER/SELLER DATE: CONTENTS: Recommendation Rudy Acosta, Assistant City Manager City of Palm Desert/CVWD October 13, 2016 Agreement of Purchase and Sale and Escrow Instructions Parcel/Site Map By Minute Motion: 1. Authorize the Mayor to execute a Purchase and Sale Agreement, Grant Deed and escrow documents between the City of Palm Desert and the Coachella Valley Water District (CVWD) for the purchase of CVWD well site property APN: 694-060-010 (.67acre) located along Dinah Shore Drive. 2. Appropriate funds in the amount of $122,830, plus escrow closing costs, not to exceed $3,000 for a total of $125,830 to Economic Development Account No. 4254430-4401000. Envision Palm Desert Not applicable to this transaction. Backaround The subject property is an existing CVWD well site (.67 acre) located along the north side of Dinah Shore Drive approximately 500 feet east of Monterey Avenue. As Staff Report Authorize Purchase/Sale Agreement with City for APN: 694-060-010 October 13, 2016 Page 2 of 3 situated, the site configuration is somewhat a narrow triangle shape with one property line (or leg) along the road frontage of Dinah Shore Drive. As Council is aware, staff has been working with the potential buyer/developer of the adjacent 14 acre commercial property to the west of the well site. Initial reviews of the developer's proposed project design revealed challenges with safe and sufficient ingress/egress to the commercial site. The existing well site improvements along the frontage of Dinah Shore Drive such as the six foot high wall constrict the developer's options to provide optimum spacing between the proposed project driveways. Additionally, the wall height inhibits visibility into the commercial site (from westbound Dinah Shore Drive). In short, the general opinion of City and the developer's staff is that the well site presents an unfortunate impediment to the optimum exposure and safest access option at the commercial site. Last year, staff initiated discussions with CVWD to propose the City's acquisition of the well site. The benefits of acquiring the well site are as follows: 1. If acquired by the City, the well site (in a separate transaction) could be sold to the adjacent commercial site developer. 2. The removal of the well site improvements will improve the visibility of the commercial site from Dinah Shore Drive. 3. The removal of the well site allows for improved and safer ingress/egress designs for the commercial project. 4. CVWD will be able to re -invest sale proceeds into a more viable well site of sufficient area to accommodate Chromium 6 extraction facilities. CVWD staff was amenable to the City's proposal provided they could locate and acquire an alternate property. At this date, CVWD has identified the City owned (one acre) property along Country Club Drive (east of Portola) as its preferred future well site. The City Council agenda includes a separate staff report that addresses the Purchase and Sale Agreement for that action. Discussion Approximately two years ago, City staff was approached by the developer who was considering acquiring the County of Riverside's 14 acre property at Monterey and Dinah Shore Drive. In his due diligence, the developer, who is now in escrow to purchase the property, discovered a number of constraints that limited optimum utilization of the property as a regional commercial center. The primary constraint is the existing CVWD well site at the east of the commercial property. Conceptual designs were developed for staff review that depicts both the removal of the well site and the inclusion of the well site. Staff agreed that the concept without the well site appeared to be the superior option. G 1Econ Deveiopment\Ruoy Acosta�StaB Reports 20161SR 10 13 16 CITY 5ac ooc Staff Report Authorize Purchase/Sale Agreement with City for APN: 694-060-010 October 13, 2016 Page 3 of 3 CVWD's agreement to sell the Dinah Shore well site property is contingent upon the City's agreement to sell CVWD the one -acre City property at Country Club Drive. CVWD has informed the City that the District Board will act on the related PSA's at the Board meeting of October 10, 2016. The City Attorney has prepared the Purchase and Sale Agreement (Exhibit A) for the City's purchase of the .67 acre CVWD well site. The City Attorney's firm, BB&K, is also responsible for preparing the PSA for the related transaction. Upon Council authorization, the respective transactions will be processed via concurrent escrow closings. The sale price of the .67 acre is derived from the valuation amount of $122,830 for the 'in -place' improvements of the well site including the perimeter wall, the driveway, entry gates and drainage infrastructure. CVWD provided staff with evidence of the actual cost to construct said improvements and staff concurs with the amount. Per CVWD's proposal, land costs are factored in the 'net difference' in land area values between the City Country Club property (one acre) and the CVWD Dinah Shore property (.67 acre) or .33 acre. Therefore, in the concurrent PSA transaction, CVWD has agreed to a total purchase price of $100,650 for the Country Club property. Fiscal Analysis City funds to purchase the .67 acre CVWD site will be appropriated from the Economic Development Unobligated Reserve. Submitted By: udj Acosta, Assist�t Manager Revie�w(edWe,irector FjI JI- Janet Moinance Approved: . k1t au -i Aylaian, City Ma r G \Ecor Deveiopmenl\Rudy Acosta\Sta eports 016\SR 10 13 16 CITY 5ac doc CONTRACT NO. C35820 AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS Foresite Escrow Escrow No: ("Escrow") 41-995 Boardwalk, Ste G-2 Palm Desert, CA 92211 Attention: Esther Lopez, Escrow Officer ("Escrow Holder") THIS AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS ("Agreement") is dated for reference purposes as of this day of , 2016 (the "Effective Date"), by and between COACHELLA VALLEY WATER DISTRICT, a public agency of the State of California ("Seller"), and the CITY OF PALM DESERT, a public entity ("Buyer"). This Agreement is made with reference to the following facts: RECITALS A. Seller is the owner of certain real property located in the City of Palm Desert, Riverside County, California, commonly known as APN: 694-060-010 and more particularly described in Exhibit A attached hereto ("Property"). Reference herein to the Property includes 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 in any way connected with the Property. B. Buyer is the owner of certain real property located in the City of Palm Desert, Riverside County, California, commonly known as APN: 620-430-024 ("Country Club Property") and more particularly described in that certain Agreement of Purchase and Sale and Escrow Instructions of even date by and between the City of Palm Desert and Coachella Valley Water District ("Country Club Purchase Agreement"). C. Buyer desires to purchase the Property from Seller and Seller desires to sell the Property to Buyer pursuant to the terms and conditions set forth in this Agreement. D. Through a separate but related transaction, Seller intends to purchase the Country Club Property from Buyer and Buyer intends to sell the Country Club Property to Seller pursuant to the terms and conditions set forth in the Country Club Purchase Agreement. 72500 00893\29145075 3 CONTRACT NO. C35820 THE PARTIES AGREE AS FOLLOWS: 1. Purchase and Sale of Property. Upon the terms and conditions described below, Buyer agrees to purchase and Seller agrees to sell and convey the Property to Buyer. 2. Purchase Price. The purchase price for the Property will be an amount equal to One Hundred Twenty -Two Thousand Eight Hundred Thirty Dollars ($122,830.00) ("Purchase Price"). The purchase price shall be paid in cash, and this Agreement is not subject to any financing contingency. The parties acknowledge and agree that the Purchase Price hereunder, when considered along with the purchase price in the related transaction pursuant to the Country Club Purchase Agreement, represents fair and reasonable value. 3. Pavment of Purchase Price. Not later than two (2) business days prior to Closing, Buyer shall deposit with Escrow Holder in immediately available funds the Purchase Price, together with such other amounts, if any, as may be required in order to pay Buyer's share of closing costs prorations. 4. Title. 4.1 Preliminary Title Report. Upon execution of this Agreement by both parties, Seller will order from Fidelity National Title Company (through its Riverside, California office — "Title Company") a preliminary title report, together with legible copies of all title exception documents described therein (collectively the "Report"). Within five (5) business days after Buyer's receipt of the Report, Buyer may object, by written notice to Seller, to any title exceptions which Buyer determines are unacceptable, in Buyer's sole discretion. Seller may thereafter elect, at its option and at its sole cost and expense, either to eliminate such title objections prior to or at the Close of Escrow, or not to do so. Failure by Seller to elect in writing whether to eliminate title objections will be deemed an election by Seller not to eliminate title objections. If Seller is unable or unwilling to eliminate any such title objections, Buyer may elect to terminate this Agreement. Alternatively, Buyer may elect to waive any such title objections and accept title to the Property subject to such matters. The Closing Date (described in Section 7.3 below) shall be extended if necessary in order to allow for the receipt, review and notice of title objections and response thereto, as described in this Section 4.1. 4.2 Title Policv. At Close of Escrow, Seller will convey good and marketable title to the Property to Buyer as evidenced by a CLTA Standard Form Owners Policy of Title Insurance, or at Buyer's election and expense, an ALTA Extended Owner's Policy of Title Insurance, issued by the Title Company in an amount equal to the Purchase Price, and containing such endorsements (the "Endorsements") as Buyer may, at Buyer's expense, reasonably require ("Title Policy"). At Buyer's election, Buyer may obtain a binder rather than a Title Policy. 5. [Intentionally Omittedl. 72500 00893\29145075 3 2 CONTRACT NO. C35820 6. As Is Acceptance of Property. Buyer acknowledges that prior to Close of Escrow, it will have had the opportunity to conduct such tests and evaluations as it deems reasonably necessary in order to investigate the condition of the Property, including its environmental status. Buyer acknowledges that it is acquiring the Property in its "as is" condition with no warranty or representation from Seller regarding the physical condition of the Property, its environmental condition or its suitability for Buyer's intended purposes. Buyer acknowledges that it is acquiring the Property based solely in reliance on its own inspections and examination and its own evaluation of the Property. Buyer agrees that no representations, statements or warranties have at any time been made by Seller or its agents regarding the physical condition of the Property except as may be contained in this Agreement. Buyer acknowledges that there may be conditions affecting the Property unknown to Buyer that may adversely affect its value or use for Buyer's intended purposes. Buyer nevertheless waives any rights or recourse it may have with respect to such unknown conditions and any damage, loss, costs or expense related thereto, including rights accruing under California Civil Code § 1542, which provides: "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor." Buyer acknowledges that it has either consulted with or had an opportunity to consult with legal counsel regarding the above waiver. The provisions of this Section 6 will survive Close of Escrow. Buyer Initials 7. Escrow. 7.1 Escrow Instructions. This Agreement shall constitute instructions of Buyer and Seller to Escrow Holder. The parties agree to execute such additional pro forma instructions as Escrow Holder may reasonably require, however, in the event of a conflict, the terms and provisions of this Agreement shall govern. 7.2 Openinq of Escrow. Upon execution of this Agreement, Buyer and Seller shall cause an escrow to be opened with Escrow Holder by depositing with Escrow Holder a fully executed copy of this Agreement. Escrow shall be deemed opened as of the date this Agreement is deposited with Escrow Holder ("Escrow Opening"). 7.3 Close of Escrow; Closinq Date. "Close of Escrow" shall mean the date on which the Grant Deed conveying title from Seller to Buyer is recorded in the Official Records of the County Recorder of Riverside County, California. The form of the Grant Deed will be as set forth in Exhibit B attached hereto. Provided that this 72500 OO893\29145075 3 3 CONTRACT NO. C35820 Agreement is not earlier terminated pursuant to the terms and provisions hereof, and provided that all of the conditions precedent to the Close of Escrow set forth in this Agreement have been approved or waived as herein provided, Escrow shall close on or before thirty (30) days following the Escrow Opening ("Closing Date"). Seller may terminate this Agreement if Seller has performed its obligations hereunder, and failure to close Escrow results from a material default by Buyer. Buyer may terminate this Agreement if Buyer has performed its obligations hereunder, and failure to close Escrow results from a material default by Seller. By causing the Close of Escrow to occur, Escrow Holder shall be deemed to have irrevocably committed to cause the Title Company to issue the Title Policy to Buyer. If the County Recorder of Riverside County, California is closed on the last day for closing Escrow, then the parties agree that Escrow Holder shall have until the next day the Recorder is open to record the Grant Deed and close Escrow. 7.4 Documents and Funds from Buver. Not later than two (2) business days prior to the Closing Date, Buyer will deliver or will assure that the following documents and funds have been delivered to Escrow Holder: (a) Purchase Price. The Purchase Price, as described in Section 2 above. (b) Preliminary Change of Ownership Statement. A Preliminary Change of Ownership Statement or in lieu thereof, the appropriate fee, to be provided to the Recorder's office at Close of Escrow. (c) Other Sums and Documents. All other sums and documents required by Escrow Holder according to this Agreement to carry out and close the Escrow. 7.5 Documents and Funds from Seller. Not later than two (2) business days prior to the Closing Date, Seller will deliver or will assure that the following documents and funds have been delivered to Escrow Holder: (a) Grant Deed. A fully executed and acknowledged Grant Deed conveying the Property to Buyer, or Buyer's nominees or assigns, in fee simple. (b) FIRPTA Affidavit. An original affidavit, using Escrow Holder's standard forms, certifying that Seller and this transaction are not subject to the withholding requirements of the Foreign Investment in Real Property Tax Act and equivalent California legislation. (c) Other Sums and Documents. All other documents and sums required by Escrow Holder according to this Agreement to carry out the Escrow and to issue the Title Policy to Buyer in the form required by Buyer. 7.6 Conditions to the Close of Escrow. Close of Escrow shall not take place unless and until: 72500 00893\29145075 3 4 CONTRACT NO. C35820 (a) Seller's Obliqation. Seller's obligation to sell the Property to Buyer is contingent on the following: (i) Buyer shall have delivered the Purchase Price, less any credits described in this Agreement, for the Property. (ii) Buyer shall have timely performed all other obligations of Buyer under this Agreement. In the event that any of the foregoing conditions have not occurred or been satisfied or waived by the Closing Date, Seller shall be entitled to terminate this Agreement and, subject to the provisions of Section 7.9 below, any funds deposited by Buyer and any interest thereon will be returned to Buyer. (b) Buyer's Obligation. Buyer's obligation to purchase the Property is contingent on the following: (i) Buyer shall have approved or shall be deemed to have approved the Report for the Property pursuant to Section 4.1. (i i) Seller shall have delivered insured title to the Property on the terms required by Section 4. (iii) No loss or damage to the Property shall have occurred which would permit Buyer to terminate this Agreement pursuant to the provisions herein below. (iv) Seller shall have performed all of its other obligations under this Agreement. (v) Escrow regarding the Country Club Property pursuant to the Country Club Purchase Agreement shall close and the transactions contemplated thereby shall be complete prior to or contemporaneous with the Close of Escrow hereunder. In the event that any of the foregoing conditions have not occurred or been satisfied or waived by the date(s) specified, Buyer shall be entitled to terminate this Agreement and, subject to the provisions of Section 7.9 below, any funds deposited by Buyer, and any interest thereon will be returned to Buyer. (c) Delivery of Sums and Documents. Both parties have deposited with Escrow Holder all sums and documents required by this Agreement. (d) Title Policv. The Title Company is prepared to issue the Title Policy to Buyer with title as described in Section 4 above. 72500 00893\29 WO75 3 5 CONTRACT NO. C35820 7.7 Closinq Procedure. Upon receipt of all funds and instruments described in this Section 7, and upon satisfaction or waiver of all contingencies and conditions set forth in this Agreement, Escrow Holder shall: (a) Record the Grant Deed. Record the Grant Deed in the Official Records of Riverside County, California. (b) Title Policv. Cause the Title Policy to be issued. (c) Purchase Price. Deliver the Purchase Price to Seller, less any costs and expenses shown on the closing statements approved by Seller and Buyer, which costs and expenses shall be disbursed as instructed by Seller and Buyer in escrow instructions delivered to Escrow Agent prior to the Closing Date. 7.8 Electronic/Counterpart Documents. In the event Buyer or Seller utilizes "facsimile" or other electronically transmitted signed documents, the parties hereby agree to accept and instruct Escrow Holder to rely upon such documents as if they bore original signatures. Buyer and Seller hereby agree, if requested by Escrow Holder, to provide to Escrow Holder within seventy-two (72) hours after transmission, such documents bearing the original signatures. Buyer and Seller further acknowledge and agree that electronically transmitted documents bearing non -original signatures will not be accepted for recording and that the parties will provide originally executed documents to Escrow Holder for such purpose. Escrow Holder is authorized to utilize documents which have been signed by Buyer and Seller in counterparts. 7.9 Costs of Escrow and Closinq Costs. Buyer will pay one-half of Escrow Holder's fee, and any additional costs and charges customarily charged to buyers in accordance with common escrow practices in Riverside County. Seller shall pay one-half of Escrow Holder's fee, the costs and expenses associated with the Title Policy as described in Section 4. Due to the status of Buyer and Seller as public agencies, no recording fee will be payable (pursuant to Government Code Section 27383) and no documentary transfer tax will be payable (pursuant to Revenue & Taxation Code Section 11922). Any additional costs and charges customarily charged to sellers in accordance with common escrow practices in Riverside County. 7.10 Propertv Taxes and Assessments. Under Seller's ownership, the Property has not been subject to real property taxes or assessments. At the Close of Escrow, Buyer will become liable for all real property taxes and assessments (including any supplemental assessments) allocable to the Property after the Close of Escrow. 7.11 Brokers' Commissions. Neither party has had any contact or dealings regarding the Property, or any communication in connection with the subject matter of this transaction, through any real estate broker or other person who can claim a right to a commission or finder's fee in connection with the sale contemplated herein. If any other broker or finder perfects a claim for a commission or finder's fee based upon any such contact, dealings or communication, then the party through whom such person makes its claim shall indemnify, hold harmless and defend the other party 725W00893\29145075 3 6 CONTRACT NO. C35820 (the "Indemnified Party") from any and all costs, damages, claims, liabilities, losses, or expenses, (including without limitation, reasonable attorneys' fees and disbursements) incurred by the Indemnified Party in defending against the claim. The provisions of this Section shall survive termination of this Agreement and the Close of Escrow. 7.12 Possession. Possession of the Property shall be surrendered to Buyer at the Close of Escrow. 7.13 Report to IRS. After Close of Escrow and prior to the last date on which such report is required to be filed with Internal Revenue Service ("IRS"), and if such report is required pursuant to Section 6045(e) of the Internal Revenue Code, Escrow Holder shall report the gross proceeds of the purchase and sale of the Property to the IRS on Form 1099-B, W-9 or such other form(s) as may be specified by the IRS pursuant to said Section 6045(e). Concurrently with such filing, Escrow Holder shall deliver a copy thereof to Buyer and Seller. 8. Remedies for Default. If Seller defaults under this Agreement, Buyer may, at its option, terminate this Agreement or initiate an action for specific performance of this Agreement. 9. Notices. Any and all notices required or permitted to be given hereunder shall be in writing and shall be (i) personally delivered, or (ii) sent by recognized overnight delivery service, mailed by certified or registered mail, return receipt requested, postage prepaid. Any such notice or communication shall be effective when received by the addressee or upon refusal of such delivery to the parties at the addresses indicated below: To Seller: Coachella Valley Water District 75515 Hovley Lane East Palm Desert, CA 92211 Attn: Jim Barrett, General Manager To Buyer: City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260 Attn: City Manager Any party may change its address by a notice given to the other party in the manner set forth above. 10. Miscellaneous. 10.1 Integration. This Agreement supersedes all prior agreements and understandings between the parties relating to the subject matter hereof. Neither of the parties has relied upon any oral or written representation or oral or written information given to it by any representative of the other party. 72500 00893\29145075 3 7 CONTRACT NO. C35820 10.2 Bindinq Effect. This Agreement shall bind and inure to the benefit of the parties, their respective heirs, successors and assigns. 10.3 Amendment/Modification. No change or modification of the terms or provisions of this Agreement shall be deemed valid unless in writing and signed by both parties. 10.4 Governinq LawNenue. This Agreement shall be construed, interpreted and applied in accordance with the laws of the State of California. Any litigation or arbitration regarding the Property or this Agreement will be brought in Riverside County Superior Court or conducted in Riverside County. 10.5 Business Days. Reference herein to "business days" means any day excluding Saturday, Sunday and any day which is a legal holiday under the laws of the State of California or in the City of Palm Desert. 10.6 Waiver. No waiver of any breach or default shall be construed as a continuing waiver of any provision or as a waiver of any other or subsequent breach of any provision contained in this Agreement. 10.7 Attornevs' 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 reasonable attorneys' fees and costs. 10.8 Assiqnabilitv. Any assignment of Buyer's rights under this Agreement shall require the prior written consent of Seller, which Seller may grant or withhold in its sole discretion. 10.9 Time of the Essence. Time is of the essence of this Agreement. 10.10 Escrow Agent. Escrow Agent shall conduct the Close of Escrow in accordance with the terms and provisions of the escrow instructions to be given to Escrow Agent by the parties in a form consistent with this Agreement. To the extent of any conflict or inconsistency between the terms and provisions of this Agreement and the escrow instructions, the terms of this Agreement shall control. 10.11 Exhibits. All Exhibits which are referred to herein and which are attached hereto or bound separately and initialed by the parties are expressly made and constitute a part of this Agreement. 10.12 Counterparts. This Agreement may be executed in counterparts and when so executed by the parties, shall become binding upon them and each such counterpart will be an original document. REMAINDER OF PAGE INTENTIONALLY LEFT BLANK SIGNATURE PAGE FOLLOWS 72500 00893\29145075 3 8 CONTRACT NO. C35820 BUYER: CITY OF PALM DESERT, A California municipal corporation By: Name: Robert A. Spiegel Its: Mayor SELLER: COACHELLA VALLEY WATER DISTRICT, a public agency of the State of California AD ATTEST: APPROVED AS TO LEGAL FORM: BEST BEST & KRIEGER LLP Rachelle Klassen, City Clerk Robert W. Hargreaves, City Attorney 72500 00893\29145075 3 9 CONTRACT NO. C35820 CONSENT AND ACKNOWLEDGMENT OF ESCROW HOLDER Escrow Holder hereby agrees to (i) accept the foregoing Agreement, (ii) act as the Escrow Holder under said Agreement and (iii) be bound by said Agreement in the performance of its duties as Escrow Holder. Escrow Holder acknowledges receipt on the date hereof of originals or counterparts of the foregoing Agreement fully executed by Seller and Buyer. Escrow Holder advises the parties that the date of the Opening of Escrow is , 2016. Dated: 2016 FORESITE ESCROW By: Its: Escrow Officer 72500 00993\291 a 5075.3 10 CONTRACT NO. C35820 EXHIBIT A LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF PALM DESERT, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA. AND IS DESCRIBED AS FOLLOWS: THAT PORTION OF PARCEL. 32. AS SHOWN ON PARCEL NIAP NO. 24255. ON FILF: I\ BOOK 206. PAGES 94 THROUGH 99. INCLUSIVE, OF PARCEL !MAPS. RIVERSIDE COUNTY RECORDS. CALIFORNIA. BEING WITHIN A PORTION OF THE NORTH ONE-HALF OF SECTION 29, TOWNSHIP 4 SOUTH. RANGE 6 EAST. SAN BERNARDINO BASF: AND \lERIDIAN. IN THE CITY OF PAI-Al DESERT. COUNTY OF RIVERSIDE. STATE OF CALIFORNIA. DESCRIBED AS FOLLOWS: COMMENCING Al THE \-LOST SOUTHERLY CORNER OF SAID PARCEL 32. SAID POINT BEING THE BEGINNING OF A CURVE CONCAVE: SOUTHWESTERLY. HAVING A RADIUS OF 2.050.00 FEET. A RADIAL LINE PASSINGTHROUGH TROUGH SAID POINT I3EAIZS NORFI I 32= 1 1 ' 28" LAST: THENCE NORTHWESTERLY ALONG THE SOU FI1WESTTERLY LINE OF SAID PARCEL 32 AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 030 39' 58". AN :1RC DISTANCE OF 131.17 FEET TO THE TRUE POINT OF BEGINNING. THENCE CONTINUING NORTHWESTERLY ALONG SAID SOUTHWESTERLY LINE AND ALONG THE :SRC OF SAID CURVE TI IROUGH A CE:N"IRAL. ANGLE OF 10 32* 41". AN ARC DISTANCE OF 377.28 FEET TO A POINT LYING 50.00 FEET SOUTHERLY OF THE NORTHERLY LINE OF SAID PARCEL 32. A RADIAL. LIN PASSING THROUGH SAID POINT BEARS NORTH 17c 58' 49" FAS I-: THENCE SOUT11 890 59' 23" EAST PARILLEL "*ITH AND 50.00 FEET SOUTHERLY OF SAID NORTHERLY LINT_ A DISTANCE OF 426.95 FEET: THENCE SOUTI 1280 31' 30" WEST A DISTANCE OF 169.20 FELT TO THE TRUE POINT OF BEGINNING. SAID LAND IS SHOW`,, AS PARCEL --A'- COMPLIANCE RECORDED NOVENIBER 8 OFFICIAL RECORDS. -\PN: 694-060-010 ON THAT CERTAIN CERTIFICATE OF 2004 AS INS FIZU.\IL:N l NO. 2004-0887571. CONTRACT NO. C35820 EXHIBIT B GRANT DEED [See Attached] 72500 00893\29145075.3 No Recording Fee Pursuant to Gov't Code §27383 No Documentary Transfer Tax Pursuant to California Revenue & Taxation Code §11922 RECORDING REQUESTED BY: COACHELLA VALLEY WATER DISTRICT Post Office Box 1058 Coachella, CA 92236 WHEN RECORDED RETURN TO: CITY OF PALM DESERT 73510 Fred Waring Drive Palm Desert, CA 92260 APN: 694-060-010 Above Space for Recorder's Use FILE: TRA. 018-226 GRANT DEED FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, COACHELLA VALLEY WATER DISTRICT, a public agency of the State of California ("Grantor"), hereby grants to the CITY OF PALM DESERT, a California municipal corporation ("Grantee"), the following described real property (the "Property") situated in the City of Palm Desert, County of Riverside, State of California: SEE EXHIBIT "A" ATTACHED HERETO IN WITNESS WHEREOF, Grantor has caused its name to be affixed hereto and this instrument to be executed by its duly authorized officer. DATED: 2016 GRANTOR: COACHELLA VALLEY WATER DISTRICT, a public agency of the State of California By: Name: Title: Doc. No. 72500 00893\29145075 3 CONTRACT NO. C35820 n notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. STATE OF CALIFORNIA ) COUNTY OF On before me, Notary Public, personally appeared , who 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. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature (Seal) 72500 00893\29145075 3 7 CONTRACT NO. C35820 EXHIBIT A LEGAL DESCRIPTION THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF PALM DESERT. COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS: THAT PORTION OF PARCEL 32. AS SHO�'N ON PARCEL %LAP NO. 24255, ON FILL'. IN BOOK 206. PAGES 94 THROUGH 99. EXCLUSIVE. OF PARCEL RIVERSIDE COUNTY RECORDS. CALIFORNIA. BEING \k'ITIIIN A PORTION OF THE NORTH ONE-HALF OF SECTION 29. TO\VNSHIP -I SOUTIL RANGE 6 EAST. SAN BERNARDINO BASF :AND \IERIDIAN. IN THE CITY OF PAL'�1 DESERT, COUNTY OF RIVERSIDE. STATE OF CALIFORNIA. DESCRIBED AS FOLLOWS: CO�T.MENCING AT THE \10S T SOUTHERLY CORNER OF SAID PARCEL. 32. SAID POINT BEING THE BEGINNING OF A CURVE CONCAVE SOUTHWESTERLY. HAVING A RADIUS OF 2.050.00 FI:ET..A RADIAL I.1NF PASSING TIIROUGH SAID POINT BEARS NORTH 32° 1 1' 28" EAST: TIIF:NCE NORTI-I vVESTERLY ALONG DELI: SOUTHWESTERLY LINE OF SAID PARCEL 32 AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL .ANGLE OF 03° 39' 58". AN :SRC DISTANCE OF 131.17 FEET TO THE "TRUE POINT OF BEGINNING. THENCE CONTINUING NORTH %VESTER1.Y ALONG SAID SOUTHWESTERLY LINE AND ALONG THE ARC OF SAID CURVE Tl IROUGH .A CENTRAL ANGLE OF 100 32' 41 ", AN .ARC DISTANCE OF 377.28 FEET TO A POIN FLYING 50.00 FEET SOt;THFRLY OF THE NORTHERLY LINE OF SAID PARCEL 32. A RADIAL. LINE PASSFNG THROUGH SAID POINT BEARS NORTH 17` 58' 49" FAST: THENCE SOUTH 890 59' 23" EAST PARALLEL V\ I'I'H AND 50.00 FFF I* SOUTHERLY OF SAID 'NORTHERLY LINE A DISTANCE OF 426.95 FEET: THENCE SOUTH 28° 31' 30" WEST A DISTANCE OF 169.20 FLET TO THE TRUE POINT OF BEGINNING. SAID LAND IS SHOWN AS PARCEL "A" COMPLIANCE RECORDED NOVE.\IBER 8 OFFICIAL RECORDS. APN: 694-060-010 ON THAT CERTAIN :SIN CERTIFICATE OF 2004 AS INS TRI, \LENT NO. 2001-0887571. CONTRACT NO. C35820 CITY OF PALM DESERT CERTIFICATE OF ACCEPTANCE This is to certify that the interest in real property conveyed by the Grant Deed to which this Certificate of Acceptance is attached from: COACHELLA VALLEY WATER DISTRICT, a public agency of the State of California ("Grantor") to: CITY OF PALM DESERT, a California municipal corporation ("Grantee") 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 said Grant Deed. Dated: CITY OF PALM DESERT, a California municipal corporation By: Name: Its: 72500 00893\29145075 3 CONTRACT NO. C35820 Part III — Presentation of Data Land Description Plat Map 694-06 L rPA 6 fl(i o� ISO 06!-,n a, 'm;47- _ 40 r ©Capital Realty Analysts, 2016 Page 23