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HomeMy WebLinkAboutOB-106RESOLUTION NO. OB- 106 A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY AUTHORIZING THE EXECUTION OF A PURCHASE AND SALE AGREEMENT WITH THE CITY OF PALM DESERT FOR PROPERTY LOCATED AT 72-565 HIGHWAY 111, PALM DESERT, CA (APN 640-370- 016), PROPERTY NO. 8 OF THE LONG RANGE PROPERTY MANAGEMENT PLAN RECITALS: A. Pursuant to AB X1 26 (enacted in June 2011), as modified by the California Supreme Court's decision in California Redevelopment Association, et al. v. Ana Matosantos, et al., 53 Cal. 4th 231 (2011), the Palm Desert Redevelopment Agency (the "Former Agency") was dissolved as of February 1, 2012 and the Successor Agency was established, and the Oversight Board to the Successor Agency (the "Oversight Board") was constituted. B. AB 1484 (enacted June 2012) amended and supplemented AB X1 26 (AB X1 26 and AB 1484, together, being referred to below as the "Dissolution Act"). C. Pursuant to the Dissolution Act, the Successor Agency is tasked with winding down the affairs of the Former Agency. D. Pursuant to Section 34175(b) of the California Health and Safety Code ("HSC"), all real properties of the Former Agency transferred to the control of the Successor Agency by operation of law. E. On May 5, 2014, the Oversight Board adopted Resolution No. OB-073, approving a long-range property management plan (the "LRPMP") which addresses the disposition of the real properties owned by the Successor Agency. F. As indicated in the DOF's letter dated June 2, 2014, the DOF has approved the LRPMP. G. Pursuant to HSC Section 34191.3, the DOF-approved LRPMP shall govern, and supersede all other provisions of the Dissolution Act relating to, the disposition and use of the real property assets of the Former Agency. H. Pursuant to the approved LRPMP, the Oversight Board authorizes the execution of a Purchase and Sale Agreement (see Exhibit A) with The City of Palm Desert for Property No. 8 of the LRPMP (APN 640-370-016) in the amount of $207,000.00 (fair market value). I. In accordance with the terms of California Health and Safety Code Section 34191.5(c)(2)(B), the proceeds of this property sale will distributed as property taxes to the affected taxing entities. -1- RESOLUTION NO. OB-106 J. The Oversight Board is adopting this Resolution to direct the execution of the Purchase and Sale Agreement (see Exhibit A) with The City of Palm Desert for fair market value as directed by the approved LRPMP. K. Notice of the proposed action presented in this Resolution was posted on the Successor Agency's website (being a page on the City's website) and at three public places: beginning on November 20 , 2014. NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: Section 1. The above recitals, and each of them, are true and correct. Section 2. The Oversight Board hereby authorizes and directs the Successor Agency to complete the execution of the Purchase and Sale Agreement (see Exhibit A) with The City of Palm Desert for fair market value as directed by the approved LRPMP. The Executive Director of the Successor Agency is hereby authorized to execute the Purchase and Sale Agreement to complete the disposition of the properties. Section 3. The members of the Oversight Board and officers and staff of the Successor Agency are hereby authorized and directed, jointly and severally, to do any and all things which they may deem necessary or advisable to effectuate this Resolution. Section 4. This Resolution shall become effective in accordance with HSC Section 34181(f). APPROVED and ADOPTED this 1ST day of DECEMBER , 2014. AYES: CARVER, JONATHAN, RINNAMON, LARSON, RODRIGUEZ, and SPIEGEL NOES: BUCK ABSENT: NONE ABSTAIN: NONE ATTEST: RA' ' D. EN_ " CRETARY OVERSIGHT BOARD FOR THE SUCCES OR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY RESOLUTION NO. OB -106 EXHIBIT A OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY PURCHASE AND SALE AGREEMENT WITH THE CITY OF PALM DESERT FOR PROPERTY LOCATED AT 72-565 HIGHWAY 111, PALM DESERT, CA (APN 640- 370-016, PROPERTY NO. 8 OF THE LONG RANGE ROPERTY MANAGEMENT PLAN -3- RESOLUTION NO. OB-106 CONTRACT NO. SA34050 AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS Foresite Escrow ("Escrow") 41-995 Boardwalk, Ste G-2 Palm Desert, CA 92211 Attention: Esther Lopez, Escrow Officer ("Escrow Holder") Escrow No: THIS AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS ("Agreement") is dated for reference purposes as of this day of , 2014 (the "Effective Date"), by and between the SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY, a public entity ("Seller"), and CITY OF PALM DESERT, a California municipal corporation ("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: 640-370-016 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 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. 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 Two Hundred and Seven Thousand Dollars ($207,000.00) ("Purchase Price"). The purchase price shall be paid in cash, and this Agreement is not subject to any financing contingency. 3. Payment of Purchase Price. Not later than two (2) business day 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 prorations. RESOLUTION NO. OB-106 CONTRACT NO. SA34050 4. Title. 4.1 Preliminary Title Report. Upon execution of this Agreement by both parties, Seller will order from Lawyer's 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. 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. 4.2 Title Policy. 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"). 5. [Intentionally Omitted'. 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, Toss, 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." G \Eton Development\Manin Alvarez\SA Property Sales\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Pasco) doc 2 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 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 Opening 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: Closing 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 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 Buyer. 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. G \Econ Developmenalartin Alvarezl.SA Property Sales\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Paseo) doc 3 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 (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 day 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: (a) Seller's Obligation. 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 \Eton Development\Martin Alvarez\SA Property Sales\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Paseo) doc 4 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 (ii) 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. 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 Policy. The Title Company is prepared to issue the Title Policy to Buyer with title as described in Section 4 above. 7.7 Closing 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 Policy. 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. G \Econ Development)Martin Alvarez'SA Property Salea\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Paseo) doc 5 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 7.9 Costs of Escrow and Closing Costs. Seller shall pay all of the Escrow Holder's fee, the costs and expenses associated with the Title Policy as described in Section 4, and any additional closing costs and charges relating to the closing of the sale of the Property. 7.10 Property 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 (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: G.\Econ DevelopmentWarlin Alvarez\SA Property Sales\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Paseo) doc 6 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 To Seller: To Buyer: Successor Agency of the Palm Desert Redevelopment Agency c/o City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260 Attn: Executive Director 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. 10.2 Binding 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 Governing 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 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 reasonable attorneys' fees and costs. G \Econ Development\Martin Alvarez\SA Property Sales\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Paseo) doc 7 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 10.8 Assignability. 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 G 'Eton Development\Marto) Alvarez1SA Property Sales\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Pasco) doc 8 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 SELLER: SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY By: Name: John M. Wohlmuth Its: Executive Director BUYER: CITY OF PALM DESERT, a California municipal corporation By: John M. Wohlmuth, City Manager ATTEST: APPROVED AS TO LEGAL FORM: BEST BEST & KRIEGER LLP Rachelle Klassen, City Clerk David J. Erwin, City Attorney GAEcon Development\Martin Alvarez\SA Property Sales\Entrada Del Paseo\PD - SARDA - Purchase and Sale Agreement (Entrada Del Paseo) doc 9 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 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. Dated: Escrow Holder advises the parties that the date of the Opening of Escrow is , 2014. , 2014 FORESITE ESCROW By: Its: Escrow Officer (i \F.con Development\Martin Alvarez\SA Property Sales\Entrada Del Paseo\Pt) - SARDA - Purchase and Sale Agreement (Entrada Del Paseo) doc 10 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY 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: Exhibit A 72500.00000\9420714.1 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 EXHIBIT A LEGAL DESCRIPTION (APN: 640-370-016) THAT CERTAIN PORTION OF LAND SITUATED IN THE CITY OF PALM DESERT, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA DESCRIBED AS FOLLOWS: PARCEL l: ALL THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 19, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE END MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH 89°14'36" WEST ALONG THE SOUTH LINE OF SAID SOUTHWEST QUARTER A DISTANCE OF 5.73 FEET TO THE WESTERLY LINE OF THE COACHELLA VALLEY COUNTY WATER DISTRICT STORM WATER CHANNEL RIGHT OF WAY (BEING 150.00 FEET WIDE) AND THE TRUE POINT OP BEGINNING; THENCE CONTINUING SOUTH 89°14'36" WES1 ALONG SAID SOUTH LINE TO THE SOUTHWEST CORNER OF SAID SOUTHWEST QUARTER; THENCE IN A NORTHERLY DIRECTION ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER A DISTANCE OF 500.00 FEET; THENCE NORTH 89°14'36" EAST AND PARALLEL TO THE SOUTH LINE OF SAID SOUTHWEST QUARTER TO THE WESTERLY LINE OF SAID COACHELLA VALLEY COUNTY WATER DISTRICT STORM WATER CHANNEL RIGHT OF LAY (BEING 150.00 FEET WIDE); THENCE IN A SOUTHEASTERLY DIRECTION ALONG SAID WESTERLY RIGHT OF WAY TO THE SOUTHLINE OF SAID SOUTHWEST QUARTER AND THE TRUE POINT OF BEGINNING; EXCEPTION THEREFROM THE SOUTHERLY 30.00 FEET AND THE EASTERLY 30.00 FEET FOR ROAD AND UTILITY PURPOSES; ALSO EXCEPTING THEREFROM THAT PORTION LYING WITHIN ABOVE DESCRIBED PARCEL 1 AS CONVEYED TO THE COACHELLA VALLEY COUNTY WATER DISTRICT BY DEED RECORDED JUNE 10, 1987 AS INSTRUMENT NO. 163487 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA, DESCRIBED AS FOLLOWS: THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 19 AND THAT PORTION OF THE NORTHWEST QUARTER OF SECTION 30, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, DESCRIBED AS FOLLOWS: RESOLUTION NO. OB-106 CONTRACT NO. SA34050 BEGINNING AT THE INTERSECTION OF WILLOW STREET AND GREENE WAY OF TRACT NO. 4380-1, AS SHOWN BY MAP ON FILE IN BOOK 81 PAGE 1 1, OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; THENCE SOUTH 87°23'5l" WEST 322.33 FEET TO THE "TRUE POINT OF BEGINNING; THENCE NORTH 10°26'00" EAST 76.13 FEET TO THE BEGINNING OF A CURVE WHOSE RADIUS BEARS SOUTH 72°28'16" WEST AT THIS POINT, SAID POINT BEING ON THE WESTERLY RIGHT OF WAY LINE OF THE PALM VALLEY STORMWATER CHANNEL; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, CONCAVE TO THE RIGHT, HAVING A RADIUS OF 510.00 FEET THROUGH A CENTRAL ANGLE OF 17°00'00" A DISTANCE OF 151.32 FEET, SAID CURVE BEING THE WESTERLY RIGHT OF WAY LINE OF SAID PALM VALLEY STORMWATER CHANNEL; THENCE NORTH 26°49'59" WEST 82.96 FEET T() THE TRUE POINT OF BEGINNING. PARCEL 2: AN EASEMENT FOR INGRESS AND EGRESS OVER THAT PORTION OF THE SOUTHEAST QUARTER OF SECTION 19, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, AND OVER THAT PORTION OF THE NORTHEAST QUARTER OF SECTION 30, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, DESCRII3ED AS FOLLOWS: BEING THE SOUTH 30.00 FEET (MEASURED AT RIGHT ANGLES) OF THE SOUTHEAST QUARTER OF SAID SECTION 19, AND BEING THE NORTH 30.00 FEET (MEASURED AT RIGHT ANGLES) OF THE NORTHEAST QUARTER OF SAID SECTION 30, BOTH BEING BOUNDED ON THE EAST BY THE WESTERLY RIGHT OF WAY LINE OF WILLOW STREET (66 FEET WIDE) AS DEEDED TO THE COUNTY OF RIVERSIDE FEBRUARY, 1965, AS INSTRUMENT NO. 29434 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA, AND BOUNDED ON THE WEST BY THE EASTERLY RIGHT OF WAY LINE OF COACHELLA VALLEY COUNTY WATER DISTRICT FLOOD CONTROL RIGHT OF WAY (150 FEET WIDE). PARCEL 3: THE NORTH HALF OF GOVERNMENT LOT 12 IN THE WEST HALF OF SECTION 30, AS SHOWN ON DEPENDENT RESURVEY AND SUBDIVISION OF SECTION 30, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, ACCORDING TO THE OFFICIAL PLAT OF SAID LAND FILED rN THE DISTRICT LAND OFFICE ON MAY 31, 1950; EXCEPTING AND RESERVING TO THE UNITED STATES SUCH OIL, GAS AND ALL OTHER MINERAL DEPOSITS, TOGETHER WITH THE RIGHTS TO PROSPECT FOR, MINE AND REMOVE THE SAME, AS WERE REQUIRED TO BE RESERVED TO THE UNITED STATES BY THE ACT OF JUNE 1, 1938 (52 STAT. 609) AS AMENDED, AND AS RESERVED IN THE PATENT FROM THE UNITED STATES TO NAHUM VINCENT PARSONS RECORDED NOVEMBER 3, 1952 IN BOOK 1413 PAGE 189 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. RESOLUTION NO. OB-106 CONTRACT NO. SA34O5O EXHIBIT B GRANT DEED [See Attached] Exhibit 1 to Grant Deed 72500.00000\9420714.1 RESOLUTION NO. OB-106 CONTRACT NO. SA34050 Exhibit "B" Form of Grant Deed RECORDING REQUESTED BY: SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY c/o CITY OF PALM DESERT 73-510 Fred Waring Drive Palm Desert, California 92260 Attn: Executive Director WHEN RECORDED RETURN TO: CITY OF PALM DESERT 73-510 Fred Waring Drive Palm Desert, California 92260 Attn: City Clerk Exempt from Recording Fees Pursuant to G.C. 6103 APN: 640-370-016 Above Space for Recorder's Use Documentary transfer tax is $0.00 Exempt from Documentary Transfer Taxes Pursuant to R & T Code Section 11922 GRANT DEED FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY, a public entity ("Grantor"), hereby grants to 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. AND excepting therefrom any public rights of way or easements. IN WITNESS WHEREOF, Grantor has caused its name to be affixed hereto and this instrument to be executed by its duly authorized officer. DATED: , 2014 GRANTOR: SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY By: Name: John M. Wohlmuth Its: Executive Director RESOLUTION NO. OB-106 CONTRACT NO. SA34050 ACKNOWLEDGEMENT 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) RESOLUTION NO. OB-106 CONTRACT NO. SA34050 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY 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: RESOLUTION NO. OB-106 CONTRACT NO. SA34050 EXHIBIT A LEGAL DESCRIPTION (APN: 640-370-016) THAT CERTAIN PORTION OF LAND SITUATED IN THE CITY OF PALM DESERT, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA DESCRIBED AS FOLLOWS: PARCEL l: ALL THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 19, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE END MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH 89°14'36" WEST ALONG THE SOUTH LINE OF SAID SOUTHWEST QUARTER A DISTANCE OF 5.73 FEET TO THE WESTERLY LINE OF THE COACHELLA VALLEY COUNTY WATER DISTRICT STORM WATER CHANNEL RIGHT OF WAY (BEING 150.00 FEET WIDE) AND THE TRUE POINT OP BEGINNING; THENCE CONTINUING SOUTH 89° 14'36" WEST ALONG SAID SOUTH LINE TO THE SOUTHWEST CORNER OF SAID SOUTHWEST QUARTER; THENCE IN A NORTHERLY DIRECTION ALONG THE WEST LINE OF SAID SOUTHWEST QUARTER A DISTANCE OF 500.0(0 FEET; THENCE NORTH 89°14'36" EAST AND PARALLEL TO THE SOUTH LINE OF SAID SOUTHWEST QUARTER TO THE WESTERLY LINE OF SAID COACHELLA VALLEY COUNTY WATER DISTRICT STORM WATER CHANNEL RIGHT OF LAY (BEING 150.00 FEET WIDE); THENCE IN A SOUTHEASTERLY DIRECTION ALONG SAID WESTERLY RIGHT OF WAY TO THE SOUTHLINE OF SAID SOUTHWEST QUARTER AND THE TRUE POINT OF BEGINNING; EXCEPTION THEREFROM THE SOUTHERLY 30.00 FEET AND THE EASTERLY 30.00 FEET FOR ROAD AND UTILITY PURPOSES; ALSO EXCEPTING "THEREFROM THAT PORTION LYING WITHIN ABOVE DESCRIBED PARCEL 1 AS CONVEYED TO THE COACHELLA VALLEY COUNTY WATER DISTRICT BY DEED RECORDED JUNE 10, 1987 AS INSTRUMENT NO. 163487 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA, DESCRIBED AS FOLLOWS: THAT PORTION OF THE SOUTHWEST QUARTER OF SECTION 19 AND THAT PORTION OF THE NORTHWEST QUARTER OF SECTION 30, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, DESCRIBED AS FOLLOWS: RESOLUTION NO. OB-106 CONTRACT NO. SA34050 BEGINNING AT THE INTERSECTION OF WILLOW STREET AND GREENE WAY OF TRACT NO. 4380-1, AS SHOWN BY MAP ON FILE IN BOOK 81 PAGE 11, OF MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA; THENCE SOUTH 87°23'51" WEST 322.33 FEET TO THE TRUE POINT OF BEGINNING; THENCE NORTH 10°26'00" EAST 76.13 FEET TO THE BEGINNING OF A CURVE WHOSE RADIUS BEARS SOUTH 72°28' 16" WEST AT THIS POINT, SAID POINT BEING ON THE WESTERLY RIGHT OF WAY LINE OF THE PALM VALLEY STORMWATER CHANNEL; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, CONCAVE TO THE RIGHT, HAVING A RADIUS OF 510.00 FEET THROUGH A CENTRAL ANGLE OF 17°00'00" A DISTANCE OF 151.32 FEET, SAID CURVE BEING TFIE WESTERLY RIGHT OF WAY LINE OF SAID PALM VALLEY STORMWATER CHANNEL; THENCE NORTH 26°49'59" WEST 82.96 FEET TO THE "FRUE POINT OF BEGINNING. PARCEL 2: AN EASEMENT FOR INGRESS AND EGRESS OVER THAT PORTION OF THE SOUTHEAST QUARTER OF SECTION 19, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, AND OVER THAT PORTION OF THE NORTHEAST QUARTER OF SECTION 30, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, DESCRIBED AS FOLLOWS: BEING THE SOUTH 30.00 FEET (MEASURED AT RIGHT ANGLES) OF THE SOUTHEAST QUARTER OF SAID SECTION 19, AND BEING THE NORTH 30.00 FEET (MEASURED AT RIGHT ANGLES) OF THE NORTHEAST QUARTER OF SAID SECTION 30, BOTH BEING BOUNDED ON THE EAST BY THE WESTERLY RIGHT OF WAY LINE OF WILLOW STREET (66 FEET WIDE) AS DEEDED TO THE COUNTY OF RIVERSIDE FEBRUARY, 1965, AS INSTRUMENT NO. 29434 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA, AND BOUNDED ON THE WEST BY THE EASTERLY RIGHT OF WAY LINE OF COACHELLA VALLEY COUNTY WATER DISTRICT FLOOD CONTROL RIGHT OF WAY (150 FEET WIDE). PARCEL 3: THE NORTH HALF OF GOVERNMENT LOT 12 IN THE WEST HALF OF SECTION 30, AS SHOWN ON DEPENDENT RESURVEY AND SUBDIVISION OF SECTION 30, TOWNSHIP 5 SOUTH, RANGE 6 EAST, SAN BERNARDINO BASE AND MERIDIAN, ACCORDING TO THE OFFICIAL PLAT OF SAID LAND FILED IN THE DISTRICT LAND OFFICE ON MAY 31, 1950; EXCEPTING AND RESERVING TO THE UNITED STATES SUCH OIL, GAS AND ALL OTHER MINERAL DEPOSITS, TOGETHER WITH THE RIGHTS TO PROSPECT FOR, MINE AND REMOVE THE SAME, AS WERE REQUIRED TO BE RESERVED TO THE UNITED STATES BY THE ACT OF JUNE 1, 1938 (52 STAT. 609) AS AMENDED, AND AS RESERVED IN THE PATENT FROM THE UNITED STATES TO NAHUM VINCENT PARSONS RECORDED NOVEMBER 3, 1952 IN BOOK 1413 PAGE 189 OF OFFICIAL RECORDS OF RIVERSIDE COUNTY, CALIFORNIA.