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HomeMy WebLinkAboutDriftwood Beach Club Mobile Homeowners Association, Inc. - 1988-09-26P,,e-b exi e,I o r mad- tom~ ,-b.-, ?:,� REQUEST FOR ACTION �° 30 RH 91-24 �F17 Date May 6, 1991 Submitted to: Honorable Mayor and City Council Members Submitted by: Michael T. Uberuaga, Executive Director) Prepared by: Barbara A. Kaiser, Deputy City Admin:strator/Economic Develop a DiAector: Subject: DRIFTWOOD BUYOUTS AND THE FAVORED NATIONS C Consistent with Council Policy? N Yes [ ] New Policy or Exception �� , K r F Ti�.-•• i CJ <i S7�L, Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions, Attachments: JA } "IF OA 4 11101*k$'t The Driftwood Emergency Buyout program, authorized by City Council in January 1991 and expanded on April 15, 1991 allows staff to proceed with buyouts of Driftwood mobile homes. The Agency is negotiating an Amended Driftwood Acquisition and Relocation Agreement, wherein a "Favored Nations" concept is introduced. The "Favored Nations" provision and Driftwood Residents to whom the provision will apply needs to be defined. If the "Favored Nations" language is accepted, then the tenant may benefit monetarily from a future bond issue and related costs may be deducted from this amount. 1) Approve the "Favored Nations" language as stated in the "Declaration of Vacancy and Receipt of Benefits," Alternative A. and approve that all Driftwood tenants, who are defined in the "Resident" category in the Driftwood Acquisition and Relocation Agreement and as determined by the May 15, 1997 date, receive the "Favored Nations" benefit. AWNW&M Implementation of the 1989 Driftwood Mobilehome Acquisition and Relocation Agreement has been delayed beyond the original scope of the program. The Agency is currently negotiating an Amended Acquisition and Relocation Agreement with the Driftwood Mobilehome Association. The Association must have 175 Driftwood tenants In agreement with the Agency's proposal before ratification. The negotiations have introduced a "Favored Nations" provision, which is included and underscored in the Declaration of Vacancy and Receipt of Benefits forms, Alternatives A through D. The negotiations of the Amended Acquisition and Relocation Agreement may result in various payment schedules which will identify the "Favored Nations" award (it may be a percentage of agreed value or a constant value) and what costs will be deducted from the award. The intent of the "Favored Nations" provision is to provide to the Emergency Buyout tenants the same benefit as to whatever is agreed upon in the Amended Relocation Agreement. f Plo 5/05 RCA RH 91-24 May b, 1991 Page two The current agreement defines the category of resident and nonresident by the determination date of May 15, 1987. The "Favored Nations" status of current residents who are also original residents is clear; however, the "Favored Nations" status of original residents who are now non-residents, that is, moved out of Driftwood since the signing of the 1988 agreement or have died, is unclear. Approximately thirty-three (33) original residents have moved out of Driftwood since the signing of the agreement (five of these are weekenders, three have died). Some of these secondary non-resident tenants have maintained two households and did not rent out their unit. There are approximately 20 original non-residents. FUNDING SOURCE: Not applicable. Funding; for the "Favored Nations" amount will only be available after the Agency has been issued the bonds. ALTERNATIVE ACTION: 1) Do not approve the "Favored Nations" language (see Alternative B.) 2) Approve that all current residents receive the "Favored Nations" consideration and exclude all current non-residents (see Alternative Q. 3) Approve that all tenants regardless of residency receive the "Favored Nations" consideration (see Alternative D). ATTACHMENTS: 1) Declaration of Vacancy and Receipt of Benefits forms (Alternatives A through D). I-iTU/BAK/CAR: jar 8913r ALTERNATIVE A DRIFTWOOD MOBILE HOME OWNER DECUMATION OF VACANCY AND RECEIPT OF BENEFITS I (We), , the undersigned owner(s) of the mobile home in Space and tenant(s) of Driftwood Beach Club Mobile Home Park, hereby acknowledge(s) receipt of any and all relocation benefits to which he/she/they is/are entitled. and waive(s) all rights to receive further benefits under the Mobile Home Acquisition and Relocation Agreement (the Agreement) except eligibility to purchase or rent, housing accommodations as specified in Section VIII (B), (1), (2) and (3) thereof. Notwithstanding anything -herein to the n r agreement is entered into which amends_thg 11Qj2ilgllgma bcouisition and Relocation Agreement by increasing _thg Agreed Value (as defined in the_Agreemen%1 of th,e mobile home, Iemaining at Driftwood, Agency shall be obligated to pav to_ S Iler an amount: equal to the lUnn gum or -percentage by xhich the Agreed Value was in r a the „purchase �price (defined Q Agreement hereundgrj less attorney's feesegdgggts. _This covenant... Shall survive the close of escrow and DOES NOT APPLY TO NON-RESIDENT OWNERS prior to May 15, 1987, as defined in the Agreement, nor to increases in agreed value which result from the initiation of eminent domain proceedings or subsequent annual adjustments. The undersigned further warrant(s) and declare(s) 0 that he/she/they has/have vacated the above listed space and hereby relinquish(es) any and all rights, title, interest to possess or occupy the above listed space. Mobile Home Owner: 1. Print Name: Signature: Date: 1. Print Name: Signature: Date: Accepted and approved for payment of balance of funds. Huntington Beach Redevelopment Agency By: Date: Title APPROVED AS TO FORM: City Attorney Agency Special Counsel 2 ALTERNATIVE NO._ B DRIFTWOOD MOBILE HOME OWNER DECLARATION OF VACANCY A2rD RECEIPT OF BENEFITS I (we) , , the undersigned owner(s) of the mobile home in Space and tenant(s) of Driftwood Beach Club Mobile dome Park, hereby acknowledge(s) receipt of any and all relocation benefits to which he/she/they is/are entitled, and waive(s) all rights to receive further benefits under the Mobile Home Acquisition and Relocation Agreement (the Agreement) except eligibility to purchase or rent, housing accommodations as specified in Section VIII (B), (1), (2) and (3) thereof. Notklithstandina. n thin herein to the contrary, in the event —that agreement is entered into which amends -the -Mobile Home Acquisition and Relocation Agreement by increasing — the -Agreed -Value (ag defined in the Agreement) -of remaining at Driftwood, Agency shall not be obligated to pay to Seller any amount whatsoever by which the Agreed Value was increased by such amendment. The undersigned further warrant(s) and declare(s) that he/she/they has/have vacated the above listed space and hereby relinquish(es) any and all - 1 - rights, title, interest to possess or occupy the above listed space. Mobile Home Owner: 1. Print Name: Signature: _ 1. Print Name: Signature: _ Accepted and approved for payment of balance of funds. Huntington Beach Redevelopment Agency By: Title APPROVED AS TO FORM: City Attorney Agency Special Counsel - 2 - Date: Date: Date: ALTERNATIVE NO. DRIFTWOOD MOBILE HOME OWNER DECLARATION OF VACANCY AND RECEIPT OF BENEFITS FAVORED NATIONS CLAUSE the undersigned owner(s) of the mobile home in Space and tenant(s) of Driftwood Beach Club Mobile Home Park, hereby acknowledge(s) receipt of any and all relocation benefits to which he/she/they is/are entitled, and waive(s) all rights to receive further benefits under the Mobile Home Acquisition and Relocation Agreement (the Agreement) except eligibility to purchase or rent, housing accommodations as specified in Section VIII (B), (1), (2) and (3) thereof. Notwithstanding Anything herein to the contrary, in the event that a subseguent agreement is entered into which amends the Mobile Home Acquisition and Relocation Agreement by increasing the Agreed Value (as defined in the Agreement„) of the mobile homes remaining at Driftwood, Agency shall be obligated to pay,, Seller an amount equal to the lump sum or percentage by which the Agreed Value was increased by such amendment, applied to the purchase Price (defined in the Agreement) paid Seller hereunder, less attorney's fees and costs. This covenant shall survive the close of escrow and DOES NOT APPLY TO NON-RESIDENT OWNERS nor to increases in agreed value which result from the initiation of eminent domain proceedings or subsequent annual adjustments. The undersigned further warrant(s) and declare(s) - 1 - that he/she/they has/have vacated the above listed space and hereby relinquish(es) any and all rights, title, interest to possess or occupy the above listed space. Mobile Home Owner: 1. Print Name: Signature: Date: 1. Print Name: Signature: Accepted and approved for payment of balance of funds. Huntington Beach Redevelopment Agency By: Title APPROVED AS TO FORM: City Attorney Agency Special Counsel 2 - Date: Date: ALTERNATIVE NO. b DRIFTWOOD MOBILE HOME OWNER DECLARATION OF VACANCY AUD RECEIPT OF BENEFITS I (we), the undersigned owner(s) of the mobile home in Space and tenant(s) of Driftwood Beach Club Mobile Home Park, hereby acknowledge(s) receipt of any and all relocation benefits to which he/she/they is/are entitled, and waive(s) all rights to receive further benefits under the Mobile Home Acquisition and Relocation Agreement (the Agreement) except eligibility to purchase or rent, housing accommodations as specified in Section VIII (B), (I), (2) and (3) thereof. Notwithstanding_ v agreement is entered into which amends the =ile Hgma_ Acquisition and Relocation _& eerl�at by increasing the Aq ++ Value (as defined in the Agreement) of the mobile homes Seller an amount equal to the lump -sum or RCXcent_ag a by which the Agreed Value was increased by -such ame-ndment, p2plied to the purchase price tdgfined in the, Agreemena Paid Seller hereunder, less attorneylp Jee2 and costs, :[hig Cnven=t, applies to all owners and shall survive the close of escrow, but does not apply to increases in agreed value which result from the initiation of eminent domain proceedings or subsequent annual adjustments. The undersigned further warrant(s) and - 1 - declare(s) that he/she/they has/have vacated the above listed space and hereby relinquish(es) any and all rights, title, interest to possess or occupy the above -listed space. Mobile Home Owner: 1. Print Name: Signature: 1. Print Name: Date: Signature: Date: Accepted and approved for payment of balance of funds. Huntington Beach Redevelopment Agency By: Title APPROVED AS TO FORM: City Attorney Agency Special Counsel 2 Date: &JA COCA 3a APPROVED BY CITY CO UEST FOR CITY COUNCIL LOPMENT AGENCY ACT16 RH91-19 Dote April 15, 1991 Submitted to: Honorable Mayor/Chairman & City Council/Redevelopment Agency Members Submitted by: Michael T. Uberuaga, City Administrator/Chief Executive Off Prepared by. Barbara A. Kaiser, Deputy City Administrator/Economic Developmentu,..� AUTHORIZATION TO PURCHASE ADDITIONAL MOBILEHOMES AT Subject: DRIFTWOOD MOBILEHOME PARK UNDER AN EMERGENCY BUYOUT PROGRAM/MAIN-PIER REDEVELOPMENT PROJECT AREA Consistent with Council Policy? pQ Yes [ } New Policy or Exception Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions, Attachments: STATEMENT OF ISSUE: The Driftwood Mobilehome Acquisition and Relocation Agreement provides mobilehome owners the opportunity to sell their mobilehomes to the Agency at an "agreed value," described within the Relocation Agreement. The Driftwood Emergency Buyout Program, authorized by the City Council in January of 1991, needs an appropriation of funds and authorization to continue additional buyouts for Driftwood tenants in emergency situations. 13:1401MUTUNoat • 1) Authorize staff to expand the Driftwood Emergency Buyout program from 14 acquisitions to an additional 20 acquisitions for a total of 34. The program would include making offers to Driftwood Mobilehome owners at the agreed value for each purchase, opening escrow accounts, and expending funds from Redevelopment Agency resources to be reimbursed upon issuance of project bonds. 2) Approve a transfer of $1,275,000 to the Main --Pier Redevelopment Project fund from 1988/89 Tax Allocation Bond proceeds, and appropriate $1,275,000 from the Main -Pier Redevelopment Project fund to the Driftwood Buyout Capital Project Account (E-TM-ED-801-3-96-00). implementation of the 1989 Driftwood Mobilehome Acquisition and Relocation Agreement has been delayed beyond the original scope of the program. The Agreement provided residents with choices in relocation benefits. These included the option of moving to a n--wly developed Ocean View Estates or selling the mobilehome to the Agency for an agreed value. There are 198 privately -owned mobilehomes remaining in the Park, fourteen of which are in escrow under the Driftwood Emergency Program authorized by the City Council in January of 1991. Under the 1989 Disposition and Development Agreement for the Waterfront project, Robert L. Mayer provided funding for the initial phase of buyouts through a reimbursement program, payable by the Agency to the developer from future tax increment and transient occupancy tax revenues generated by the Waterfront project. This funding reimbursement program no longer has cast available to continue the buyout program. The Agency has proposed a bond issue, netting $31.5 million to fund the Buyout Program and for various public improvements associated with Waterfront's commercial development of Phases 2 & 3, and residential development. After the Bond Issue is approved by the City Council as part of the approvals for the Waterfront project and sold, funds will be available for the complete Buyout Program. No date for this sale has been set, as yet. There were 34 tenants who were certified by the Immediate Buyout Committee in February, 1991. The Driftwood Emergency Buyout program could only fund 14 of these tenants. Continuing with the limited Buyout Program will allow staff to make 20 additional offers on mobilehomes at agreed value for previously certified emergency tenants. Funds of $1.275,000 will allow the purchase of approximately 20 additional coaches following the procedure outlined in the Relocation Agreement. Proceeding with buyouts at this time has two major advantages: 1) tenants in emergency situations will be able to receive relief and, 2) buyouts at this time may lower future costs for the Agency. These additional emergency buyout tenants will be eligible for the "favored nations" provision as stipulated at the conclusion of the Driftwood re -negotiations. This means that eligible tenants will receive an additional amount calculated by a percentage of their agreed value (offer price). Funding for the "favored nations" amount will only be available after the Agency has issued the Bonds. I11t.'I Tax Allocation Bonds were issued in 1988/89 for fcur redevelopment project areas. $3.275 million of the proceeds are reserved to be used for redevelopment purposes. Staff recommends allocating $1,275,000 of the total $3.275 million for the Buyout Program. The Agency will be reimbursed from the Bonds to be issued in conjunction with development of the Waterfront project. The Agency remains at risk for these funds if Waterfront Project does not proceed. A1.TERNAIM ACTION: Do not authorize staff to expand the Buyout Program for Driftwood Nlobilehome Owners at this time. ATTAINMENTS: 1) Fiscal Impact Statement MMBAK/CR:Is 9808r Ji CITY OF HUNTINGTON BEACH -�� INTER -DEPARTMENT COMMUNICATION MVNi1NG10% MACH Michael T. Uberuaga Robert J. Franz To City Administrator From Deputy City Administrator REQUEST FOR APPROPRIATION April 3, 1991 Subject TO PURCHASE 20 COACHES AT THE Date DRIFTWOOD MOBILE HOME PARK As requested under the authority of Resolution 4832, a Fiscal Impact Statement has been prepared and submitted relative to the proposed purchase of approximately 20 coaches, pursuant to the procedure outlined in the Relocation Agreement. Anticipations are that an appropriation of $1.275,000 would be adequate for this limited buyout program. An affirmative response by the City Council would reduce the balance of the City's currently reserved Tax Allocation Bond Proceeds from $3,275,000 to $2,000,0001 Robert JI Frariz Deputy City Admini rator RJF:jar 8809r t a &V a r m u.r+xfcrr 4 REQUEST FOR -CITY COUNCILS-�G�o���.�� r REDEVELOPMENT AGENCY ACTION ED 90-42 Die January 7, 1991 Submitted to: Honorable Mayor/Chairman & City Council/Redevelopment Agency Members Submitted by; Michael T. Uberuaga, City Administrator/Chief Executive Officer `Af J ' Prepared by: Barbara A. Kaiser, Deputy City Administrator/Economic Development'" Subject: AUTHORIZATION TO PURCHASE MOBILE HOMES AT DRIFTWOOD MOBILE HOME PARK, MAIN -PIER REDEVELOPMENT PROJECT Consistent with Council Policy? M Yes t i New Policy or Exception Statement of Issue, Recommendation, Analysis, Funding Source, AlternativpA 9emyA ` CUt1Nt:t'.1. The Driftwood Mobilehome Acquisition and Relocation Agreement provides mobile home owners the opportunity to sell their mobile homes to the Agency at an "agreed value", described within the Relocation Agreement. There are currently 200 mobile home owners remaining in the park. A significant number of mobile home owners have expressed strong interest in the buyout program. Contingent upon the approval of a bond issue for the Waterfront project, funds would be available to initiate the buyout program. lax el U11 9, e 1) Authorize staff to proceed with a buyout program for the Driftwood Mobilehome owners. The program would include making offers at the agreed value for each purchase, opening escrow accounts and expending funds from Redevelopment Agency resources to be reimbursed upon issuance of project bonds. 2) Approve a transfer of $1,125,000 to the ?lain -Pier Redevelopment Project from Tax Allocation Bond Proceeds 1989/89 (currently reserved in the General Fund for Redevelopment Agency purposes) and appropriate $1,125,000 for the Driftwood buyout program. ANALYSIS: Implementation of the 1988 Driftwood Mobilehome Acquisition and Relocation Agreement has been delayed beyond the original scope of the program. The Agreement provided residents with choices in relocation benefits. These included the option of moving to a newly developed OceanView Estates or selling the mobilehome to the Agency for an agreed upon value. Under the 1988 Disposition and Development Agreement for the Waterfront project, Robert L. Mayer provided funding for the initial phase of buyouts through a reimbursement program, payable by the Agency to the developer from future tax increment and transient occupancy tax revenues generated by the Waterfront Project. This funding reimbursement program no longer has cash available to continue the buyout program. Pl0 4/84 RCA/RAA ED 90-42 January 7, 1991 Page Two The Agency has proposed a bond issue netting $.31.5 million to fund the buyout program, the construction of a new mobile home park for relocatees, and for various public Improvements associated with Waterfront's commercial development of phases 2 and 3 and residential development. After the bond issue is approved by City Council as part of the approvals for the Waterfront Project and sold, funds will be available for the complete buyout program. Commencement of a limited buyout program now will allow staff to make offers on some mobile home roaches at agreed value for emergency situations. Funds of $1,125,000 will allow the purchase of approximately 16 coaches following the procedure outlined in the Relocation Agreement. Immediate buyouts by the Agency has several advantages in that it allows those waiting for the past two years to sell their coaches and lowers future costs for the Agency, since buyouts are less expensive than relocation. The original Relocation Agreement offered the "agreed value" to mobilehome owners. The 1990-1991 agreed value is based upon individual appraisals. The current average agreed value is $70,000. Staff recommends offering the agreed value at this time to allow the maximum number of coaches to be purchased. However, those selling at this time would be provided with a "favored nations" clause wich would provide for additional payments if later buyouts are completed at a value greater than agreed value. DING SOUR Tax Allocation Bonds were issued in 1988/89 for four redevelopment areas. $4.4 million of the proceeds are reserved in the General Fund to be used for redevelopment purposes. Staff recommends allocating $1,I25,000 of the total $4.4 million for the buyout program. The Agency will be reimbursed from the bonds to be issued in conjunction with development of the Waterfront project. The Agency remains at risk for these funds if Waterfront does not proceed. ALTERNATCVE ACTION: Do not authorize staff to implement the buyout program for Driftwood mobilehome owners at this time. 1. Fiscal Impact Statement MTU/BAK/CAR:jar 8101r JJ CITY OF HUNTINGTON BEACH INTER -DEPARTMENT COMMUNICATION HVNTINGTUM BEACH To MICHAEL T. UBERUAGA From ROBERT J. FRANZ City Administrator Deputy City Administrator Subject REQUEST FOR APPROPRIATION Date DECEMBER 27. 1990 TO PURCHASE 16 COACHES AT THE DRIFTWOOD MOBILE HOME PARK FIS 90-50 As requested under the authority of Resolution 4832, a Fiscal Impact Statement has been prepared and submitted relative to the proposed purchase of approximately 16 coaches. pursuant to the procedure outlined in the Relocation Agreement. Anticipations are that an appropriation of $1,125,000 would be adequate for this limited buyout program. An affirmative response by the City Council would reduce the balance of the City's currently reserved Tax Allocation Bond Proceeds from $4.4 million to $3,275.000. /? ROBERT J. FRA Z k Deputy City A ministrator RJF:skd WPADSERT:58 �REQUEST������.-�PMENT ,,,aENCY ACTION 1910 ED 90-30 fl Date November 5, 1990 CI Y C _SK Honorable Chairman and Redevelopment Agency Members Submitted to: Michael T. Uberuaga, Chief Executive Officer�`C�� Submitted by: Barbara A. Kaiser, Deputy City Administrator/Economic Developmen� Prepared by: APPROPRIATION OF REDEVELOPMENT FUNDS FOR DRIFTWOOD PHASE I MOBILE HOME RELOCATION AND RENOVATION/MAIN-PIER Subject: _ REDEVELOPMENT PROJECT AREA Consistent with Council Policy? Yes j ] New Policy or Exception Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions, Attachments: STATEMENT OF ISSUE: The City's expenditure to date for the Ocean View Estates (Driftwood) Phase I Relocation Project is $2,706,779.78 out of a $3.2 million budget allocated for the a project. An appropriation of $55,000 is needed for FY 1990/91 in order to continue implementation of the Agency's obligation under the previously approved ReIocatiorP1 ., r, r, -� to Agreement. � r .�� -cnrn RECOMMENDATION: q Q a Approve the appropriation of $55,000 to the Driftwood relocation (Ocean View Estafu, I)= account. o 71 ANALYST : Ocean View Estates I is the location where the Driftwood Phase I residents have been relocated. The $55,000 should be appropriated in order to complete outstanding work orders for individual mobile homes within Ocean View Estates Mobile Home Park, purchase furnishings for the clubhouse, and other minor improvements to the Park. The estimated cost to finish these projects is $55,000. The Relocation Agreement requires the Robert Mayer Corporation to advance $3.2 million dollars to the Agency to complete this work. To date, $2,706,779.78 has been expended by the Agency from this fund. These expenditures will be reimbursed to the Robert Mayer Corporation from tax increment dollars generated from the project. FUNDING SOURCE: 1990/91 Main -Pier Redevelopment Fund balance. ALTERNATIVE ACTIONS: 1. Do not approve the appropriation, and stop all further improvements at Ocean View Estates I. ATTACHMENTS: 1 1. Fiscal Impact Statement. 2. Driftwood Phase 1 Relocation Expenditure Report. NITU/BAK/CR:sar 7842r P1011185 DRIFTWOOD PITASE I EXPENDITURE REPORT OCTOBER 3, 1990 FY 87-88 FY 88-82 YF 99-90 FYI TOTALS Buyouts — $ 495,484.83 -- — $ 495,484.83 Purchase of New Mobile Homes -- 646,595.81 — — 646,595.81 Design & Construction — 691,355.S0 $ 186,560.10 102,297.15 980,212.75 Graner Oil -- 111,224.89 33,170.09 -- 144,394.96 Relocation OVE—I & Park Improvements $ 5,387.64 331,962..Q6 95,369.52 7,372.21 440,091.43 TOTALS $ 5,397.64 $ 2,276,623.08 $ 31S,099.70 $ 109,669.36 2.706, 79.71 7846r f J� IIUKTINGTOM IEACM CITY OF HUNTIPIGTON BEACH INTER -DEPARTMENT COMMUNICATION To MICHAEL T. UBERUAGA From City Administrator Subject REQUEST FOR APPROPRIATION Date TO FUND DRIFTWOOD MOBILEHOME RELOCATION/RENOVATION FIS 90-39 ROBERT J. FRANZ Deputy City Administrator OCTOBER 17, 1990 As requested under the authority of Resolution 4832, a Fiscal Im. pact Statement has been prepared and submitted relative to the proposed appropriation of 1990/91 Redevelopment Funds to complete outstanding contracts within the Ocean View Estates Mobilehome Park. Anticipations are that an appropriation of $55,000 would be adequate for this purpose. An affirmative response by the City Council would reduce the unaudited, undesignated balance of the Main Pier Redevelopment Project Area Capital Improvement Fund to $5,770,436. _ ROBE:RT J. FRANZ Deputy City Administrator RJF:sd 5454j CITY OF HUNTINGTON BEACH INTER -DEPARTMENT COMMUNICATION , To City Administrator Subject 60-Day Notice Date: of Termination of Tenancy (Driftwood Mobilehome Park) From ly Connie Brockway City Clerk Date November 2, 1990' I have transmitted to Dan Brennan, Real Property, the original of the two communications --(I) 60-Day Notice of Termination of Tenancy, and (2) 3-Day Notice to Homeowner to Pay Rent Or Vacate Tenancy in Mobilehome Park. I have also sent copies to Barbara Kaiser, Redevelopment, in the event the Department is involved. 1 2 3 4 5 6 7 8 91 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 NIFLSI:N a GLOVER ATTORNEYS AT L11ti 1600EPST FLORIDA, S1JR E211 LIEW.T. CA 92341 (7),i) 6S2.9007 ` MEWED ttTT 6LERX CITT OF A U 67 1 N C TNJ F :_ Cfl.rAaLlF. hbv 2 815 [.i1 '90 60—DAY NOTICE OF TERMINATION OF TENANCY To: City of Huntington Beach 2000 Main St. Huntington Beach, CA 92648 You are hereby notified that you must remove from and deliver to the Mountain View Mobilehome Park possession of the mobilehome premises described below, at the end of a sixty-day period, beginning on November 1, 1990 or the day you are served with this notice, and terminating on January 1, 1991 or Eixty days from the date you are served with this notice. The premises to be vacated are Space 3 of the Mountain View Mobilehome Park, 485 Idyllwild Dr., San Jacinto, CA 92383. A coach obtained by you from Harry and Bette Stone, of the Driftwood Mobilehome park, and placed with Performance Mobile Home, is on this space. The termination of your tenancy is demanded for the following reason: you have not paid the rent on this space for the month of October, 1990, and have not paid the utilities on this space for the month of September, 1990. Dated; October 25, 1990 SHERRY K. SALLS NIELSEN & GLOVER Attorneys for Landlord/Owner MOUNTAIN VIEW MOBILEHOME PARK . �w i RECEIVED CITY CLERK CITY OF HUNTINCTC'Y F. IMf- CALIF. Nov 2 8 is fill '90 3-DAY NOTICE TO HOMEOWNER TO PAY RENT OR VACATE TENANCY IN MOBILEHOME PARR To: City of Huntington Beach 2000 Main St. Huntington Beach, CA 92648 You are hereby notified and required to pay the rent in the sum of $ 275.00 for the month of October, 1990, utilities in the sum of $ 62.90 for the month of Septemter, 1990, and a late charge in the amount of $ 25.00 for the month of October, 1990, for a total of $ 362.90, which is due to the undersigned for your occupancy of the premises located at Space 21* of the Mountain View Mobilehome Park, 485 Idyllwild Dr., San Jacinto, CA 92383, and which amount has been unpaid for a period of twenty-five days from its due date, or to quit and vacate the premises within 3 days after the service of this notice on you under the penalty of the laws of the State of California. Dated: October 25, 1990 SHERRY K.-SALLS NIELSEN & GLOVER Attorneys for Landlord/Owner MOUNTAIN VIEW MOBILEHOME PARK * A coach obtained by you from Mary Shelton and Robert Hodge, of the Driftwood Mobilehome park, and placed with Performance Mobile Home, is on this space. Ile 'REQUEST E-R-EDEVELOPMENT­' aENCY ACTION APPROVED BY CITY CO UNCI-- 19 _ Date February 6. 1989 GI'I' CLI:R Honorable Chairman and Redevelopment Agency Members Submitted to: Paul Cook, City Administrato Submitted by: Douglas N. La Belle, Deputy City Administrator/Econom' Prepared by: Development Subject: APPOINTMENT FOR IMMEDIATE BUY—OUT COMMITTEE Consistent with Council Policy? X Yes [ ] New Policy or Exception Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions, Attachments: STATEMENT OF ISSUE• The Driftwood Mobilehome Acquisition and Relocation Agreement stipulates that the Redevelopment Agency shall appont two members to serve on the Immediate Buy-out Committee . Transmitted for your approval is the appointment of Mr. Jim Townsend and Mr. Ralph Caruthers as recommended by Council liaisons. RECOMMENDATION• x Approve the appointment of these individuals. rya X cam,.• ANALYSIS • M 4 -< 00 Pursuant 'to the Driftwood Mobilehome Acquisition and Relocation' jq Agreement, a buy-out option is provided to residents who are interested in an immediate purchase of their coach but are loctgeif in an area of the Park affected by later phases of constructic4p arTd therefore, not immediately eligible for relocation benefits. Within the limits of a 3.2 million dollar fund allocated primarily to cover relocation benefits for Phase I residents, the offer to purchase will be extended to any Driftwood coach owner requesting an immediate buy-out. If the requests for immediate buy-out exceed the funds allocated, than a committee comprised of two Driftwood Association members, one resident elected by tenants who are not Association members, and two members appointed by the Agency will establish criteria and determine eligibility for immediate buy-out. Submitted for your approval is the appointment of Mr. Jim Townsend and Mr. Ralph Caruthers. FUNDING SOURCE: Not applicable. ALTERNATIVE ACTIONS: Do not approve these appointments. DLB:SRH:ss P10/1/85 (1934d) %` REQUE54T FOR CITY COUNCI ACTION Date December 5, 1988 Submitted to: Honorable Mayor and City Council Submitted by: Paul Cook, City Administrator�� Prepared by:• w Douglas La Belle, Dep. City Administrator/Economic D Subject: ti APPROPRIATION OF FUNDS FOR RELOCATION PIFTWOOD RESIDENTS Consistent witfi Council Policy? Yes I ] New Policy or Except on 'rY Statement of Issue, Recommendation, Analysis, Funding Source, TATEMENT OF I Attachments: The appropriation of 3.2 million dollars is requested to implement the relocation of Driftwood Mobilehome Park residents displaced by the first phase of the Waterfront project. IRECOMMENDAT-100. Approve the appropriation of $3,200,000 in the Capital Improvement Budget of the Main Pier Redevelopment Project Area in an account titled "Driftwood Relocation Project". ANALYSIS Phase I of the Waterfront project will displace twenty-nine coach owners now residing in the Driftwood Mobilehome Park. The Driftwood Mobilehome Acquisition and Relocation Agreement stipulates that 3.2 million dollars will be allocated to relocate the twenty-nine residents designated as Phase I and Phase I Optional. The expenditure priorities outlined in the Relocation Agreement include the offer to purchase at in -park value, the development and construction costs for the expansion of Ocean View Estates, relocation of tenants to Ocean view Estates, relocation to another space in the park or relocation to another mobilehome park. After fulfilling relocation obligations to the first phase residents, the Agreement stipulates that the Agency shall allocate the remainder of the 3.2 million dollars for an immediate buy-out of residents impacted by a later construction phase but requesting immediate receipt of benefits. Attached is a breakdown of the estimated costs for this project. The Agreement requires the Agency to accomplish most of these tasks in the current fiscal year. The developer is financing all of these initial costs by way of an advance of funds as the expenditures occur. An appropriation is required for the Agency to expend the advanced funds in fulfillment of the Agency's committments under the agreement. Plo 5M ING SOURCE: The 3.2 million dollars will be advanced by the developer. Repayment to the developer will be through an allocation of 38.5% of the tax increment and 50% of the Transient Occupancy Tax revenues generated by the project in future years as specified in the recently approved agreement. LTERNATIVEACTION: Do not approve appropriation of funds. ATTACHMENT: 1. Driftwood Mobilehome Park Relocation Costs - Phase I DLD:SRH:gbm RCA - 12/5/88 -2- (1551d) i DRIFTWOOD MOBILEHOME PARR P.ELOCATION COSTS - PHASE I OPTIONS • Buy-out at appraised value 10 coaches, average value $60,288 • Relocation within Park 1 family (includes purchase of relocation coach) . Construction of Ocean View Estates 24 pads constructed at a cost of $25,000 per pad Purchase of new mobilehomes 15 coaches at a purchase price of $35,000. Relocation of existing coach to Ocean View Estates 1 coach Land acquisition costs TOTAL COSTS $ 602,880 $ 77,900 $ 600,000 $ 525,000 (1679d) REQUE, r FOR CITY COUNCk, ACTION Submitted to: Honorable Mayor and City Coi Submitted by: Paul Cook, City Administratc Prepared by: Douglas N. La Belle, Dep. C: Subject: DRIFTWOOD MOBILEHOME PARK ACQUISITION AND RELOCATION AGREEMENT AND MASTER LEASE AGREEMENT BETWEEN THE CITY OF HUNTINGTON BEACH AND DRIFTWOOD HOMEOWNER'S ASSOCIATION FOR OCEAN VIEW ESTATES Consistent with Council Policy? X Yes [ ] New Policy or Exception Statement of Issue, Recommendation, Analysis, Funding Source, Alternative Actions, Attachments: STATEMENT OF ISSUE• Transmitted for City Council/Redevelopment Agency consideration is a revised Master Lease Agreement between the City of Huntington Beach and Driftwood Homeowner's Association for Ocean View Estates. This document is an attachment of the Driftwood Mobilehome Park Acquisition and Relocation Agreement which was approved by Council on August 15, 1988 subject to review by the City Attorney as to form. The Relocation Agreement now presented includes minor revisions concerning deadline dates for Phase I residents. RECOMMENDATION: Approve the Master Lease Agreement and minor changes in the Acquisition and Relocation Agreement. ANALYSIS• On August 15, 1988, the City Council/Redevelopment Agency approved the Driftwood Mobilehome Park Acquisition and Relocation Agreement. The Acquisition and Relocation Agreement outlines relocation options offered to the residents of the Driftwood Mobilehome Park, displaced due to the conversion of the Park. One of the options offered is relocation to a mobilehome park to be constructed by the Agency. The proposed location for the new park is at the site of Ocean View Estates, an existing mobilehome park at Ellis and Goldenwest. The Relocation Agreement stipulates that the Agency shall lease Ocean View Estates to the Driftwood Beach Club Mobilehomeowners Association. The Agreement further established November 15, 1988, as the deadline for implementation of relocation' options for Phase I coach owners including construction of mobilehome pads at Ocean View Estates and closing of escrow for the sale of affected mobilehomes. The Agreement has been revised to show March 15, 1989 as the deadline date. No 5/85 The lease agreement states that the term of the lease shall run for twenty-five years, beginning when the last mobilehome space constructed in the Park is available for occupancy. The lease further stipulates that Ocean View Estates is a temporary mobilehome park, constructed for tenants displaced from Driftwood Mobilehome Park and Pacific Trailer Park and extends no rights beyond the twenty-five year period. The Association (the lessee) shall have the right to operate and manage Ocean View Estates as a mobilehome park and approve or disapprove prospective tenants except tenants relocated from Driftwood or Pacific Trailer Park. The Association :hall notify the Agency of any vacancy at Ocean View Estates and shall consider subsequent applicants referred by the Agency in the same manner as it would any other sublease applicant. The lease agreement also states that relocation benefits will not be offered to Ocean View Estates tenants at the end of the twenty-five year term. The base rent that the Association shall pay to the Agency will be calculated at ten percent of the original construction cost of the park including pools, buildings, club house, common areas, roads, infrastructure and design and construction of new mobilehome spaces (not to exceed a total cost of $25,000 per space). The base rent will increase annually not more than 6% or less than 3% based upon cost of living increases reflected through the Consumer Price Index. The Association shall calculate rent to tenants based upon cost of operation including the base rent to the Agency and incorporating some reasonable reserves. The Lease Agreement states that the Agency will assume the rights and obligations of the City concerning the rental agreement with the twelve coach owners already residing at Ocean View Estates. The existing residents may negotiate a new sublease with the Association or maintain their existing lease in which case the Agency will become a subtenant to the Association with respect to these residents. ill all I KeNTONEX45A The developer will advance $4.5 million to the Agency as needed for relocation costs. This cost will be repaid with 38.5% of the property tax increment and 50% of the transient occupancy tax revenues generated by the Waterfront project. Do not approve the Mobilehome Acquisition and Relocation Agreement. 1. Mobilehome Acquisition and Relocation Agreement 2. Master lease between the City of Huntington Beach and Driftwood Homeowners Association for Ocean View Estates. 3. 33433 Report DLB:SRH:sds 1268d tf"T r4AZ- H A4 i x 1► L a T 44ERWiOME ACQUISITION AND RE.U.)CATION AGREEMENT LEHOME ACQUISITION AND RELOCATION AGREEMENT (_"Agreementrl "YY entered into this &7tday of , 1988 by and among the REDEVELOPMENT- AGENCY OV THE CITY OF HUNTINGTON BEACH ("Agency"), RLM PROPERTIES, LTD., a California Limited Partnership ("RLM"), DRIFTWOOD BEACH CLUB MOBILE HOMEOWNERS ASSOCIATION, INC., a California Non -Profit Corporation ("Association") and the INDIVIDUAL TENANTS of the Driftwood Beach Club _Mobile Home Park, who have executed this Agreement (individually "Tenant" and collectively "Tenants"). RECITALS A. The City of Huntington Beach ("City") is the owner of that certain real property comprised of approximately 44 acres, shown on the Site Map attached hereto as Exhibit A and incorporated herein by reference ("Site"). B. In 1963 the City entered into a lease ("Master Lease") with the original Master Tenant, of which RLM is a successor in interest, for. .the development and use of the Site as a Mobilehome Park, golf course, clubhouse, pool, hotel, restaurant and gas station. Under the provisions of this Master Lease the term expires in the year 2013. C. RLM contends that the Mobilehome Park, clubhouse and pool are separate from the other operations described above. The Association contends that the golf course and clubhouse are part of the Mobilehome Park. D. For purposes of reference within this Agreement, the Mobilehome Park, golf course, clubhouse and pool. will be referred to as the "Park." E.: In 1978 RLM became the Master Lessee and presently operates the Site in substantLal compliance with the original author i-zed use. F. In 1983," the City and RLM modified the Master Tease to provide that RLM, as Tenant, was authorized to develop and maintain the Site in accordance with its highest and best lawful use. G. RLM subleases spaces ("Space Leases") within the Park to the Tenants on which spaces Tenants have located individually owned mobilehomes ("Mobilehomes"). A list of the Tenants, their membersbip in the Association, and the location of each within the Park is set forth in Exhibit B attached hereto and incorporated me I L.J herein by reference. �..,; F Y N A L, H. The Association is authorized, by its members, tc negotiate a reso.lution'of their disputes regarding the use of the Sites ihowever, each individual Tenant has retained the' right to execute this Agreement and must agree to be bound by its provisions in -order to qualify for the 'benefits bestowed upon the Tenants as hereinafter provided. I. The City and the Agency would like the Site redeveloped as part of an overall redevelopment plan for the downtown area of the City of Huntington Beach. As part of this plan, the City intends to transfer a portion or all of: its ownership interest in the Site to the Agency. J. RLM has proposed to the Master Lease and a redevelopment of hereto and incorporated herein proposed phasing schedule of the hereinafter to "Conversion Phases" designation as shown on Exhibit C. Agency a renegotiation of the the Site. Exhibit C, attached by reference, indicates the redevelopment. All references shall he with reference to the K. The redevelopment of the Site as proposed by RLM would ultimately require a complete demolition of the. existing improve- ments on the Site, removal of the Mobilehomes and relocation of the Tenants. •. L. RLM has given to the Tenants and others various notices of its intent to change the use of the Park and discontinue the use of the Park as a mobilehome park. The Association contends that: 1. Once these notices were given to the Tenants and others, the tenants have been unable to sell their Mobilehomes and/or refinance same. 2. Prospective buyers have been unwilling to buy because RLM has required proposed Eiuyers to waive relocation rights and benefits, as. ,well as acknowledge that the Site will cease ,being used as a mobilehome park anti golf course during the year 1990. 3. Despite these actions, those persons who have been willing to buy have been unable to finance the purchase, as Lenders will not lend money using the Mobilehomes as collateral in light of the announced intent by RI,M to change the use of the Park. 4. The City and RLM are obligated to maintain the current use of the Park 'at least until the year 2013 when the Master Lease expires, and the Association has requested that the City reject the proposed change of use and maintain the Site as _ -2- ;• � � I� I N h L ,`. pre*ently developed until the year 201 . ' 4 M. RLM contends as follows: 1.' That as Master Lessee it has the complete right to change the use of the Mobilehome Park under said Master Lease and understate, federal and local law; 2. That all notices that have thus far been required have been properly served upon the Teni.itts; 3. That RLM has thus far complied with all laws concerning the change of use and propc.ses to comply with all state, federal and local laws in order w effect a change of use of the Park; 4. That RLM has not required any prospective buyer of any Mobilehome in the Park to waive any rights or relocation benefits; 5. That neither RLM'nor any Agency has any responsibil- ity, legal or moral, for the loss in value of the Mobilehomes in the Park; and 6. That the inflated value of the Mobilehomes in the Park deprives-RLM of its property rights as a lessee. N. Agency would like the Site redeveloped as proposed and the Tenants compensated for the resulting dislocation as provided for herein. D. RLM, the Agency, as successor in interest of the City, the Association, and the Tenants desire to compromise their disputes regarding RLM's right to develop the Site prior to the year 2013, the relinquishment of property rights by the Tenants, and the adequacy of a Relocation Assistance Plan. P. Concurrently herewith, the Agency and RLM have entered into a Disposition and Development AgUement and Ground Lease pursud'ht to which, subject to the terms and conditions set forth therein and herein, the Agency 'would convey certain Land to RLM and Ground Lease (modifying and extending the existing Master Lease) other Land .to RLM all for purposes of development thereon in accordance with the ❑DA and Lease and this Agreement. TERMS OF AGREEMENT In view of the above, the parties do hereby agree to resolve, compromise and settle their disputes regarding their respective entitlements under any plan to redevelop the Site as follows: l L! N A L I. AGENCY OBLIGATIONS The Agency hereby agrees on behalf of itself, its successors and assigns that it will guarantee to the Tenants executing this Agreement the following: A. It will immediately cause appraisals to be made, at its expense, of the Tenants' Mobilehomes on the Site according to the method described in Section TV below to determine the "Appraised Value" of the Mobilehomes; and B. Any development, redevelopment or change of use of the Site prior to December 31, 2013 will contain a plan which; 1. -Bestows upon the Tenants the same rights and benefits being given them as set forth in this Agreement; -and 2. Provides for a Conversion Phasing schedule consistent with that contained in Exhibit C hereto, and that the scheduled phases of development contained therein will not he accelerated unless additional benefits are paid to the Tenants as provided for in this Agreement. C. The obligations of the Agency under this Agreement shall inure to the benefit of RLM, the Association and the Tenants, their successors or assigns. The Agency shall adhere to the Conversion Phasing schedule and shall timely take any and all actions which are necessary to carry out and enforce the terms of this Agreement as to the Tenants, including: 1. Preparing and serving all Notices necessary to notify Tenants to vacate the Mobilehome Park spaces .including but not limited to: (a) Within fifteen (15) days after receipt of Notice from RLM of its intent to begin construction of each and any Post Conversion Phase A development,' the Agency shall serve all remaining 'Tenants notice of its intent to proceed with adds-tional construction. t (b) To those_ Tenants Yspecifical.ly affected by the next. scheduled development the Agency shall serve a one hundred eighty (180) day Notice to Vacate their Mobilehome space. In the event Tenants fail to vacate within the one hundred eighty (180) day period the Agency shall also serve the Tenants with a :sixty (60) day Notice to Terminate.Tenancy. required, accomplish the Site 2. Implementing and enforcing, by legal action if any and all terms of this Agreement necessary to this Agreement. 3. Taking any and all actions and implement the phasing schedule ..q_ necessary to clear to allow RLM to A L ,develop the Site including, but not limLted to: (a) using its best efforts to acquire the necessary possessory rights to Ocean View Estates I, as herein- after defined, to enable it to provide for the occupancy at that location by those Tenants affected by' -Conversion Phase A of the redevelopment, however, the possessory rights -to Ocean View Estates I shall be acquired before any construction at the Site may commence; and (b) Clearing the property, constructing mobile - home spaces and otherwise improving Ocean View Estates I suffi- ciently to accomodate those eligible Tenants electing to be moved to this location; and, (c) In the event the Agency desires to proceed with any Post Conversion Phase A construction, it shall: (i) acquire the necessary possessory rights to Ocean View Estates I and Ocean View Estates II to enable it to provide for the occupancy of those areas by the Tenants as provided for herein; and (ii) clear the property, construct mobile - home spaces, and otherwise improve Ocean View Estates i and Ocean View Estates II sufficiently to accommodate up to one hundred forty-five (145) spaces for Tenants electing to be moved to Ocean View Estates I and Ocean View Estates II. (d) In the event the Agency fails to acquire the possessory rights to Ocean View Estates I and II through good faith negotiations, the Agency will duly schedule, notice, and hold a public hearing at which it will consider the adoption of resolutions of necessity to authorize acquisition by eminent domain of the possessory rights of ocean View Estates I and II not then owned by the Agency. F'ollnwing such public hearing, the hgency will exercise its discretion in determining whether or not to adopt the resolutions of necessity and to proceed with eminent domaip._ In this regard, the Agency unnertakes no ohligation to exercise powers of eminent domain with respect •to Ocean View Estatee I or II, or the leasehold interests, or any interests therein. 77. RLM OPLIQATIONS R1.M hereby agrees, on behalf of itself, its successors and .'signs, as to TE-nants executing this Agreement, that: A. Any development, redevelopment or change of use of the Site prior to December 31, 2013 will contain a plan which: 1. Bestows upon the Tenants the same rights and P I N A L benefits being given them as set fortn in this Agreement; and 2. Provides for ,a phasing schedule that is consistent with that contained in Exhibit C hereto, and that the scheduled levels of development ' cnnt:ained therein will not be acce Lerated unless additional benefits &re paid to the Tenants as expressly provided for in -this Agreement. B. RLM shall notify Agency, in writing, of its intention to begin construction of any Post Conversion Phase A development two hundred forty (240) drys prior to the scheduled date of construction on the particular phase identified. Said notice shall identify the specific a,ea to be involved in the construction and shall specifically lis: the spaces involved. III. ASSOCIATION AND TENANT OBLIGATIONS The Association and those Tenants executing this Agreement hereby -agree, on behalf of themselves -and their successors and assigns, that: A. The Association will confirm and approve this Agreement, on behalf of itself, in accordance with any and all laws,. rules and regulations that govern its organization and operation; and B. The Association shall recommend to its members that execution of this Agreement by the Tenants is in the Tenants' best interest; and C. Benefits and obligations flow to the Tenants under this Agreement and the Tenants executing this Agreement are bound by its terms and shall timely perform the obligations contained herein in order to be entitled to the benefits; and D. The Association and Tenants agree, recognize and acknowledge that. any and all alleged representations, written or oral, previously made to them concerning the use of the Site, including the facts that the present.lease for the Site expires in the year 2013 and that the use -of .the Site may be changed at that time -if •changes have not 'previously been made according to the terms of .this Agreement have been fulfilled as a result of this Agreement. E. The Tenants shall vacate the' Park within the Notice periods referenced herein provided they receive the benefits to which they are entitled under this Agreement, and that upon receipt of those benefits all prior representations, oral or written, have been fulfilled and satisfied. F. Association and Tenants stipulate that the reason for any termination of tenancy contained herein shall be change of -6- use -and so long as RLM and Agency this Agreement,. all requirements shall thereby be deemed satisfied; • �Wj P I N A i satisfy their obligations under of state, federal and local law and G, To the extent provided in Section XI1 of this Agreement,. Association and Tenants ,shall accept any. and all changes to the proposed Site Plan and the development of . the Site so long as such changes do not affect the Conversion Phasing Schedule as set forth on Exhibit "C" hereof and the benefits they are to receive according to the terms of this Agreement. 'IV. APPRAISAL OP MOBILEHOMES A. Selection of Ap2raisers. Within fifteen (15) days from the date hereoft t e Agency and the Association shall each separately designate -a membet OF Real Esftte saccessor -Society -of--Real Estate -Appraisers cir any atice"ser shei; not the;I.- -be-- in -emi-tem ee, a disinterested real estate appraiser having appropriate qualifications) to appraise the Mobilehomes as set forth immediately below. All appraisers selected pursuant to the provisions hereof .shall be impartial and unrelated, directly or indirectly, so far as employment for services is concerned to any of the parties hereto, or their successors, and shall have at least ten (10) years professional experience in Southern California appraising mobilehomes with land and improvements similar to the Mobilehomes on the Site. B. Appraisal Criteria for Determination of "Appraised Value". As used herein, the Appraise Value" of the Mohilehomes s Fabe the in-place/in-park fair market value of the homes as of November 1, 1986 in location on the Site, as adjusted for general Orange County in --place mobilehome housing inflation to the date of appraisal as determined by the appraisers. In determining the "Appraised value," the appraisers shall base their determinations on comparable sales in the Park during -.the twelve (12) month period prior to Novemher 1, 19B6. ' The appraisers shall, in addition to the in-place/in- park factors such as the location of the Park and the amenities provided in the Park, consider the size, age, condition and special features of each Mobilehome, the location of each Mobile - home in the Park and the value of, any improvements made by Tenant to the Mobilehome since November 1, 1986. The appraisers shall also consider the Space Lease and rental rates applicable thereto as they were in effect on November 1, 1986, and assume the continued existence of these leases in the Park through December 319 2013 with all amenities= but, shall not consider the effect moving a Mobilehome would have on its value, -the effect of any change of use of the Park, including, but not limited to, that proposed by RLM, or the value of the Mobilehome under, any local ordinances or codes. - All Space Leases shall be cansidered.as being renewable with -reasonable rent increases and all language in Space Leases, notices or other documents concerning possible change of use of the Park shall be disregarded. The terms of an existing sublease between the Tenant, as sublessor, and a Renter, as sublessee, may be considered by the appraiser in determining the Appraised Value. However, a Renter's relocation entitlements, if any,' under Article 927 of the Ordinances of Huntington Beach will not be considered for purposes of reducing this Appraised Value. C. Aa raisal Process and Appraised Value. The two (2) appraisers so appointed shal , indepen ent y o each other, determine the value of each Mobilehome within sixty (60) days after they have been selected, as to Phase 1 and Phase 1-Optional Tenants and ninety (90) days as to the balance of the Mobilehomes. If the two (2) appraisers appointed concur on the determined value of a Mobilehome, the amount so determined shall be the Appraised Value. If the appraisers do not concur, and the difference between the 'two (2) determinations is an amount less than ten percent (10%) of the amount of the higher determination, the mean average of the two (2) determinations shall be the Appraised Value. If the difference between the two (2) determinations exceeds the amount specified above, the determination of value shall be deemed "disputed." Within fifteen (15) days after it is determined that the value of a Mobilehome is disputed, the two appraisers shall jointly select a third appraiser meeting the qualifications set forth hereinabove, and if they are unable_ to agree on a third appraiser, either the Agency or Association, by giving fifteen (15) days notice to the other, may apply to the Presiding Judge of the Superior Court of. Orange County to select a third appraiser who meets the appraiser qualifications set forth above. The third appraiser, however selected, shall be a person who fies not acted in any capacity for either -party. Within thirty (30) jay$ after being selected, the third appraiser shall make an independent appraisal of the Mobilehome using the criteria set forth in Section -IV, Paragraph B. above. This appraiser shall not have access to the findings, data or conclusions of the other appraisers. The original appraisers' determinations as to the value of the Mobilehome will then be compared to the value determination of the third appraiser for the same Mobilehome. The initial determination that is closest to the value determination made by the third appraiser shall be deemed to be the Appraised Value of that Mobilehome. All expenses related to the selection and services of all three appraisers shall be the sole responsi- bility -of the Agency. F I N A L D. Alternate Valuation: Once the Appraised Value of a Mobilehome is established by the appraisal method, the Appraised Value may be adjusted to a higher value equal to either: y 1.- That which Tenant would be entitled to receive under the provisions of Article 927._ of the Huntington Beach Municipal Ordinancel or 2. The amount of the actual purchase price paid by the Tenant for the Mobilehome plus proveable costs of any subsequent capital improvements made to the Mobilehome after the purchase, but before November 1, 1986, plus the actual value of any capital improvements made after November 1, 19861 or 3. The amount necessary to pay in full those secured financial obligations which were transacted prior to November 1, 1986, to the extent that the amount does not exceed the Appraised Value plus ten percent (10%), plus the actual value of those capital improvements made after November 1, 1986. "Secured financial obligation" as used herein shall be defined as the principal sum as of May 1, 1988 which the Mobilehome owner was obligated to pay to a lender whose sole security for the loan was the Mobilehome, its improvements, the Space Lease and the personal signature of the Tenant. E. Determination of Agreed Value of Mobilehomes. The Appraised Value• or each Mobilehome a be a33ustea accor ing to the provisions of Exhibit D, attached hereto and incorporated herein by reference, in order to determine the adjusted fair market value (Agreed Value) for each Mobilehome through December 318 2013. in all cases where the application of the provisions of Exhibit D would increase or reduce the value of a particular Mobilehome, references in this Agreement to the "Agreed Value" shall be deemed to mean the adjusted fair market value as determined by the application of the provision of Exhibit D; however, in no case shall the rent changes occasioned by this Agr p_ement affect Exhibit D except for regular annual increases. Further, in no case shall the Agreed Value be reduced below the Appraised Value prior to year 14 on Exhibit D. V: TENANT CLASSIFICATION AND ENTITLEMENTS A. Tenant Classifications. All Tenants shall be clas- sified as follows: 1. Immediate Buyout Tenants; A limited number of Tenants who apply regardiess at their lo5ation within the Park, because of their individual circumstances, will be qualified as an Immediate Buyout Tenant. E 1 ! A L _ t ' 2. Phase. I Tenants: 11'.:nants who own Mobilehomes .located within the area Zesignated Conversion Phase A on Exhibit C shall be Phase I Tenants. . 3. Phase I-0 tional: Tenants who own Mobilehomes located within the area designated Conversion Phase B-Optional on Exhibit C shall be Phase I -Optional Tenants. 4. Phase II Tenants: All other Tenants of the Park not specifically referenced e shall be Phase II Tenants. 5, Non -Resident Tenants: Tenants who own Mobile - homes in the Park, regardless of t eir .location within the Park, who sublet the premises to non -relatives, with or without' compen- sation, shall have the additional classification of Non -Resident Tenants. 6.. Renters: All persons who sublease from Tenants shall be Renters andnot Tenants as referenced herein, except that a person who was a non -owner resident on May 15, 1987 shall be entitled to the Tenant's rights and benefits hereunder if that Resident had an option to buy the Hobilehome on that date and has subsequently either: (a) exercised the option to purchase; or (b) still has the option to purchase and exercises same before the Tenant's final election of benefits is due hereunder; or (c) has renewed the option and exercises same before the Tenant's final election of benefits is clue hereunder. Any person who has obtained an option to purchase a Mobilehome since May 15, 1987 may obtain the rights and benefits due the Tenant hereunder by proper exercise of the option to purchase and be entitled to elect benefits as limited by this paragraph 6. 'Both Tenant and resident/optionee shall be entitled to concurrently select benefits under this- Agreement; however, When the :renrint and resident/optionee conflict in their election of benefits,. the Tenant's election shall prevail unless the option to purchase has been exercised. 7. Determination Date: The status of Tenants as of May 15, 1987 shalf be the contro ing factor for determining the Tenants' classifications hereunder. B. Tenant Entitlements. Tenants shall be entitled to select certain relocation benefits under this Agreement. The particular benefits to which each Tenant may be entitled depends -10- \_ 4,- A L upon the individual Tenant's _classii .ation and the options the Tenant selects. Tenants shall be obls.lated to select the benefits which they desire under this Agreemeto. and notify the Agency and the' Buyout • Committee, as the, case - ay . be,, of their selection within the time periods specified ht.ein. The entitlements by Tenant classification are as follows:'- 1 . Immediate_Buyout'Tec,.ints (a) Pur ose of Classifications: It is the mutual desire of the parties hereto to i enti y and provide for those Tenants who (because of personal circumstances, financial need or a particular impact the pri•jecc's phasing plan may have upon them) find it necessary or advi..ab+e to receive the financial benefits of the Relocation Assistance elan, to which they may be entitled, in advance of the phasing sch.gdule as established by the Relocation Assistance Plan. -For this reason the Immediate Buyout Classification is established. W Available Funds: The Agency will provide the sum of Three Million Two Hun re'cT —Thousand Dollars ($3 200 n00) to pay for certain relocation costs it incurs to provide the benefits to the Tenants herein during Conversion Phase A of the plan. . (c) Expenditure Priorities: These expenditures will be made for the following items in the following order of priority: (1) pay Buyout Tenants located in Conversion 'Phase A and Phase B-Optional who elect to.sell their Mobilehomes as coon as possible= then. (fi) -Pay development and construction costs (excluding costs associated with acquiring land or right .to possess same except for trucking and related uses at the corner of Ellis and Goldenwest) to build out the existing Ocean View Estates I property to provide spaces for all Phase I and Phase I -Optional Tenants who elect to be relocated to Ocean View Estates I before commeAcement of construction of Conversion Phase A; ( i i i ) Pay. the _'costs to move eligible Tenants to Ocean View Estates I either; (aa) by acquiring a new mobilehome for Tenant and placing it at the new site with the necessary hookups, and moving costs] or (bb) by moving the Tenants' exist- ing Mobilehomes to the new site and paying the other benefits to which those Tenants may be entitled, as hereinafter described; then (iv) Pay the costs to relocate Phase I and Phase I -Optional Tenants who elect to be relocated in another section of the Park; and (v) Pay the costs to relocate Phase I and Phase. I Optional Tenants who elect to -be relocated to any location within the United States within the limits of Section VIII. A. hereof. (vi) With all funds remaining, purchase the -Mobilehomes of those remaining Tenants applying for Immediate Buyout who are certified by the Buyout Committee. (d) Buyout Committee to Determine Cualifica- tion: All applications for certification as an Immediate Buyout Tenant shall be submitted to and the issue of qualification determined by. the Buyout Committee. This Committee shall be comprised of five (5) members. Two (2) seats on the Committee will be filled with individuals designated by the Association, two (2) seats as designated by the Agency and one (1) seat as designated by those Tenants who are not members .of the Association. The Agency designees shall not be Tenants at the Park. A majority vote of the Committee members shall be final and binding. (e) Time Limitations: (i) A written application by the Tenant, to be certified as an Immediate Buyout Tenant, must be submitted to the - Committee within 'thirty (30) days after receipt by that Tenant of written notice of the Appraised Value determination for his/her Mobilehome. Any application received by the Committee after that date shall be deemed to be unqualified. The Committee, however, may consider and rule upon a later filed application if it deems that denial of the .application, under all of the circumstances, would work an extreme hardship on the Tenant. (ii) All. phase I and Phase I -Optional Tenents who timely apply for certification as Immediate Buyout Tenants shall be immediately qualified and certified. (iii) The Committee shall determine as qualified or not qualified all Phase II and Non -Resident Tenants who apply within forty-five (45) days of the last Tenant in the Perk being notified of his/her Appraised Value. (f) pualification Criteria: (i) No criteria required. When the total cost to purchase the Mobilehomes sought to be certified does not exceed 'the remaining available funds, after meeting the priorty expenditures listed above, there will be'no qualification criteria -12- _ established. In such event, all Immediate Buyout applicants will be certified by the Committee to the Agency and the Agency will thereafter purchase the applicants' Mobilehomes as provided for hereunder. (ii) Establishment of Criteria. In the event the total cost to purchase the Mobilehomes sought to be certified exceeds the funds available, after paying the priority items, then the Buyout Committee will establish criteria used to qualify the Phase II and Non -Resident applicants as Certified Immediate Buyout Tenants. This criteria will strive to qualify an applicant on the basis of the physical and financial hardship that will be created if the applicants are unable to sell their Mobilehomes. (g) Application by Tenant: Any Tenant desirous of immediate sale of h s or her Mo•obi e�iome shall apply, in writing, to the Buyout Committee for Immediate Buyout Certification and sale pursuant to this paragraph. The application shall state that the Tenant desires to sell and, if he or she wishes, may set forth the reasons and/or state the hardship that the applicant believes will be created should the application be denied. (h) Certification: The Buyout Committee shall consider all applications for Immeaiate Buyout Certification based on the agreed criteria. The Buyout Committee shall thereafter, within the time allowed by paragraph (e)(i) above, determine those Tenants who qualify in view of the funds available and certify those as Immediate Buyout Tenants to the Agency in writing. (i) Acquisition Escrow: Within fifteen (15) days of receipt of the written - .nor- ice of certification by the Agency, it shall establish an escrow for its acquisition of the Mobilehome with the closing to occur as soon as possible (approximately thirty (301 days) after the opening of said escrow, but in no event later than 'March 15, 1989 for Phase I Tenants. The Immediate Buyout purchase price shall be: (i) for Phase I and Phase I -Optional Tenants: the Appraised Value at time of close of escrow; and (ii) for Phase II and Non -Resident Tenants: the Appraised Value less five percent (5%). (j) Close of Escrow. Payment to Tenant and Possession of Mobilehome: (i) Before close of escrow the selling Tenant shall execute and deliver to escrow all documents necessary to transfer marketable title, free and clear of all liens and encumbrances, to the Mobilehome to the Agency and Agency shall pay -13- F I N A L k to escrow the entire purchase price and any additional amounts necessary to pay all escrow costs. (ii) Upon close, escrow shall: ( as ) par all liens. and encumbrances against the Mobilehome; and (bb) pay to Tenant seventy-five percent (75%) of the remaining sale proceeds and deliver to Tenant an acknowledgment that it holds the remaining sale proceeds which shall be disbursed to the Tenant upon the Tenant vacating the premises• and providing escrow with an executed Declaration of Vacancy and Receipt of Benefits in the form of Exhibit E attached hereto; and - (cc) deliver all transfer documents to the -Agency. (iii) Tenant shall vacate the premises within fourteen (14) days after receipt of the payment of seventy- five percent (75%) of the net sale proceeds and any holdover after that date will be unlawful; (k) Acknowledgment of Notice: A Tenant elect- ing this Option hereby acknowledges that this Agreement shall constitute a sixty (60) day Notice of Termination of Tenancy which is effective as of the date of this Agreement and the tenancy shall terminate within two (2) days after the date of closing. (1) Condition Precedent to Construction: With the exception of the demo iton of that portion of the Hotel located on the Site consisting of the forty-eight (48) units closest to Huntington Street, RLM shall not commence construction on the Site until all escrows for Immediate Buyout cases for Phase I and Phase I -Optional Tenants have been funded and escrows for spaces 325, 326, 327, 328, 329, 312 and 311 have all closed or thtse Tenants have been relocated to Ocean View Estates I as the TenKrts shall elect. 2. Phase I Tenants Within_ thirty (30) days after Tenant's receipt of the Notice of the Appraised Value of the Tenant's Mobilehome, the Tenant shall select, in writing, one of the following options: (a) Option 1-Immediate Buyout/Offer to Sell All Phase I Tenants who apply for certifi- cation as an Immediate Buyout Tenant shall be certified and -14- _ - F I N A L ' •entitled to have their Mobilehomes purchased by the Agency as • provided in Section V, Paragraph D.1.'above. (b) 'Option__2--Relocation within Park (i) Exercise .of One Time Option: Tenant shall have the option, subject to availability of space, to be moved once to another existing Mobilehome within an area of the Park which is scheduled- for redevelopment later than the Conversion Phase in which the Tenant is currently located. The selection of Mobilehome and the actual location of the relocation space must be determined no less than thirty (30) days before construction of the Conversion Phase in which the former Mobilehome is located. Up to this time, the Tenant may revoke this Option and elect Option-1 Immediate Buyout for Phase I Tenants. (ii) Purchase of Relocation Mobilehome: The Tenant shall select the Mobilehome to which relocation is desirdd and enter into a purchase agreement with the owner provid- ing for the close of escrow before scheduled commencement of construction. The Agency shall pay all escrow costs and that portion of the purchase price, up to the whole• thereof, that the Agency would have been obligated to pay if the selling Tenant were selling direct?y to the Agency for the Agreed Value. In the event the purchase price of the relocation Mobilehome is less than the Agreed Value of the Buyer's Mobilehome, the Agency shall pay the difference to the Buying Tenant as provided in paragraph (iv) below. If the price paid for the relocation Mobilehome is more than the Agreed Value of the Buyer's Mobilehome, the Buying Tenant shall pay the difference. (iii) Costs of Relocation: Agency shall pay all costs of the within -Park move including, but not limited to, packing and unpacking of household goods and, in addition, shall reimburse the Tenant for up to One Thousand Five Hundred Dollars ($1,500) in costs incurred for refurbishment of. the Mobilehome to which Tenant moves. �-- (iv) Purchase of Tenant's Existing Mobile - home: A Tenant. who exercises -this option shall he paid, at the time -of the move, cash for his/her .original Mobilehome at the Agreed Value. (v) Right to Purchase, Costs and Rents for Tenant at Pelocation Mobilehome: The Phase I Tenant electing this Option may: (aa) Require the Agency to purchase the relocation Mobilehome and thereafter rent the Mobilehome to which the Tenant is being moved from the Agency for an initial monthly rental of the Mobilehome equal to one -twelfth (1/12) of nine -percent (9%) of the Agency's purchase price for same plus . •► �) F I N h Y. space rent equal to one-half (1/2) or the rental rate that would have otherwise been paid for that space. These rental rates shall continue until the Mobilehome's removal is necessary for further development of the 'Site or, two (2) years after the date of the relocation, whichever occurs first. If the Tenant occupies the space after this date, the Mobilehome rent shall continue unchanged; however, the space rent shall be determined in the same manner as other Tenants who remain in the Park. A Tenant who sells his/her Mobilehome and elects to rent a Relocation Mobile - home will not be entitled to be relocated again, and will receive no further relocation benefits other than those specified herein; or (bb) Purchase the Relocation Mobile - home for the Agency's purchase price or less, pay space rent as provided in (aa) above and thereafter, be eligible For all other Phase lI Tenant benefits except further in -park relocation. (c) Option 3-Relocation to Ocean View Estates I Al2 Phase I Tenants who have not elected either Option 1 or Option 2 above may elect to he relocated to Ocean View Estates I by the Agency as hereinafter provided. (i) Location: Ocean View Estates t is the area specifically marked as such on Exhibit F-2 and includes, but is not limited to, the existing mobilehome park located in the City northeast of the intersection of Ellis Avenue and Goldenwest Street, presently known as Ocean View Estates. (ii) Qualification as Relocatable M3bile- home and Notices: Within thirty (30) days after receipt by the Agency of a Tenant's written notice to elect to be relocated to Ocean View Estates I, the Agency, in its sole discretion, shall determine if a Mobilehome is relocatable to Ocean View Estates I. The Agency shall, within five (5) days thereafter, give the Tenant written notice of its determination. The notice shall state whether or not the Mobilehome is relocatable and,••i€ it is, the AgeVy's estimate of the relocation costs as described in subpara- graph (c)(iv) below. (iii) Election's Determined by Mobilehome Condition: ❑epending upon the relocatability of the .Tenant's Mobilehome, the Tenant may he entitled to the following benefits: (aa) When the Mobilehome is over nineteen (19) years old, a• single -wide or has been determined to be not relocatable, then the Tenant shall be entitled to have a new mobilehome purchased in the Tenant's name by the Agency and located at Ocean View Estates I; or (bb) When the Mobilehome is over nineteen (19) years old, not a single -wide, but is relocatable, the Tenant may elect to have the Mobilehome relocated to Ocean View Estates I, and in such event, the Agency shall pay to the Tenant Five Thousand dollars ($50000) in addition to the reloca- tion costs as described in subparagraph (c)(iv) below. (cc) When the condition of the Mobilehome meets the requirements for relocation but the Tenant prefers a new mobilehome, then the Tenant may, within thirty (30) days after receipt by the Tenant of the Agency's written determi- nation regarding relocatability and estimated relocation costs, require the Agency to purchase a new mobilehome for the Tenant. The Tenant shall pay to the Agency the amount of the cost of the new mobilehome after deducting therefrom the estimated relocation costs. In this event the Tenant shall cause the old Mobilehome to be removed from the Site. (dd) Any new mobilehome purchased by the Agency to fulfill its obligations hereunder shall be purchased in Tenant's name and delivered to Ocean View Estates I, at Agency cost and expense. The new mobilehome shall be unused and substantially equivalent in size, utility and quality as Tenant's existing Mobilehome. Agency shall consult with each Tenant and cooperate to -attain Tenant's reasonable preference with regard to style and floorplan of the substitute mobilehome. Should a Tenant desire a larger or upgraded Substitute mobilehome, the Tenant shall be required to pay the additional costs attributable to the upgrade. (iv) Costs of Relocation: The Agency will pay all costs of relocating the Mobilehome, its contents and add-ons, including, but not limited to, relocation of the Mobile - home, packing, moving and unpacking of all contents, all set up and hook up charges and all replacement and/or refurbishment inside and out to put the Mobilehome and all add-ons into a condi- tion on site at Ocean View Estates I at least equivalent to that it enjoyed at the Park. (v) Relocation Availability: The Agency will make available at Ocean View Estates I prior to March 159 11989 as many spaces as are necessary to accommodate Phase I and Phase I Optional Tenants who select this Option. (vi) Rent Abatement: A Tenant electing this Option will receive a one hundred percent (100%) abatement of his/her space rent for the first twenty-four (24) months of his/her residency at Ocean View Estates I. If, by that date, Ocean View Estates II has not been completed, the rent shall thereafter be set at the same rate as those tenants who resided t r prior to the date of this Agreement. Upon completion of Oa PII, the rental rate shall be set by the Assoc a'Ci� ,SFP U 81988 -17- DCPARTMENT OF Cor"MVK'ITY DEVELOPMENT PLANNING DIVI,,-.10-Pi (vii) Space Selection and Placement: Space assignment for each new Tenant at Ocean View Estates I shall be determined by the Agency based upon the availability of loca- tions and, whenever feasible, the Tenant's expressed preference in this regard. (d) Those Tenants failing to provide the Agency with written notice of their elections contained herein, within the time allowed, will be deemed to have elected to sell their Mobilehomes at the earliest possible time at the then exist- ing Agreed Value. (e) Notwithstanding the above, the implementa- tion of any of these Options shall occur prior to March 15, 1989. 3. Phase I-0 tional Phase I -Opt ion= Tenant shall select, in writing, within thirty (30) days after receipt by the Tenant of written Notice of Appraised Value: (a) All Phase I Options: Phase I -Optional Ten- ants shall have the right to Telect,any benefit available to Phase I Tenants; or (b) Option 4-Ri ht to Remain: Within the same thirty (30) day period, Phase 1- ional Tenants may elect to remain in their Mobilehomes at their present locations until the commencement of any Post Conversion Phase A of the development of the Park under the following terms and conditions: (i) Abatement of Rents: Should Tenant elect to remain in the Mobilehome at its present location, then the Tenant will pay space rents from the commencement of construction of Conversion Phase A for a period of twenty-four (24) months, thereafter at the rate of fifty percent (50%) of the rental rate as adjusted according to this Agreement. If, at that time, there has been no Post Conversion Phase A development, the space rents shall be computed in the same manner as Phase II Tenants. Should construction commence after that date, the rents would be abated to seventy-five percent (75%) of the regular rate as determined for other Tenants who remain in the Park, or until the space is deemed by RLM to be necessary for the development of the next Conversion Phase and the Mobilehome is either purchased by the Agency, the Tenant relocated to Ocean View Estates II as hereinafter provided, or the Tenant elects to be relocated outside the Park. (ii) Election Exclusion: All Phase I - Optional Tenants, who elect to remain in their present space after commencement of Conversion Phase A, shall not be entitled to exer- cise the Option to be relocated to Ocean View Estates I. I". V VJ L (iii): _Right to Phase II Tenant Benefits. Those Phase I? -Optional. Tenants who elect to remain 'in their current space or.who relocate within the Park during the develop- ment .of Conversion Phase A small, in addition to those benefits specified above be entitled to the same benefits and Options bestowed upon Phase II Tenants, - (c) Selection BX Default: Those Tenants fail- ing to provide the Agency %ijth written notice of their elections contained hereint within -the time allowed, will be deemed to have elected to sell their Mobilehome at the earliest possible time at the then !existing Agreed Value. 4, Phase 11 Tenants Phase II Tenants shall, within thirty (30) days of receipt of Notice of Appraised Value of their Mobilhomes, select, in writing, one of the following relocation benefit Options: (a) Option Z-Immediate Buyout Cases: Any Phase II Tenant may apply to the Buyout Committee for certifica-- tion.as an Immediate Buyout Tenant as provided in Section v para- graph B.i. above. (b) Option ion. 2-Limited Right to Remain: Any Phase II Tenant may elect to continue to occupy his her Mobile - home, at its present location, until the commencement of any Post Conversion Phase A construction which affects his/her location and shall be entitled to: (i) Restricted Rents; Effective on the date of this Agreement+ the Tenant shall pay to RLM, or its designee, monthly space rent equal to the rental rate paid by the Tenant of that space otl January 1, 1988 (the initial rent). This rate shall be increased annually from the date of this Agreement by.six percent (6%). Upon commencemest Cat any Post Conversion Phase A construction, the rent will be reduced to.seventy-five percent (75%) of the rent paid by Tenant just prior to the construction and -this new rate shall "be increased by six percent (6%) per annum. - ( i i ) Revival of Opt ion to Sel 1: - 11pon commencement of any construction after the completion of the second construction area, those Phase 11 Tenants selecting this Option shall be entitled to a new offer to purchase before commencement of each. and any subsequent Conversion Phase in the same manner as stated in paragraph (c) next below. (c) Option 3-Right to Sell Mobilehome: Any Phase II Tenant may elect to sell his/her mobilehome as follows: (i) Offer to Purchase: Prior to one F 1 0 it b .hundred eighty (180) days'before the =.cheduled commencement of any Post Conversion Phase A construction, the Agency shall offer to purchase for the Agreed Value the 14obilehomes of the then remain- ing Tenants. (1i) Acceptance or Rejection of Offer: If the Tenant's space falls within the area designated as the next construction phase, then the Tenant shall give written notice to the Agency, within sixty (60) days, of their acceptance of the offer to purchase, or of their election to select another option, as herein- after provided, but in no event, shall these Tenants be allowed to remain in their present space. (iii) Escrow and Payment for Mobilehome: Within thirty (30) days after receipt of acceptance of its offer to purchase, the Agency shall open an escrow with a scheduled closing date sixty (60) days thereafter, or sooner if the parties so agree. All costs of the escrow shall be borne by the Agency. (iv), Close of Escrow, Payment to Tenant and Possession of Mobilehome: (aa) Before close -of escrow the selling Tenant shall execute and deliver to escrow all documents necessary to transfer free, marketable and clear title to the Mobilehome to.the Agency and Agency shall pay to escrow the entire purchase price and any additional amounts necessary to pay all escrow costs. (bb) Upon close, escrow shall: (1) pay all liens and encum- brances against the Mobilehome; and (2) pay to the Tenant seventy- five percent (751) of the remaining sale proceeds and deliver to Tenant an acknowledgement that it holds the- remaining sale proceeds which shall be disbursed to the Tenant upon the Tenant vacating the premises and providing escrow with an executed eclaration of Vacancy and Receipt of Benefits in the form 'of Exhibit E attached hereto; and (3) deliver all transfer docu- vents to the Agency. (cc) Tenant shall vacate the premises within fourteen (14) days after receipt of the payment of seventy- five percent (73%) of the. net sale Proceeds at which time the balance due shall he'paid and any holdover after that date will be unlawful. (d) Oetion_4-Right to Relocate Within Park: L -20- `"'' F I td A L (i) After receipt of a'one hundred eighty (18D) day notice 'from the Agency of ,its intention to proceed with any Post Conversion Phase A construction, any Phaseill Tenant, who has.. not previously been relocated,- may elect to be relocated within the Park under the same terms and conditions offered Phase I Tenants at the commencement -of thfs Agreement. This Option is averilable and may be exercised, in writing, by all Phase II Tenants for sixty (60) days after receipt by the Tenant of Notice from the Agency of its intention to proceed with any Post Conversion Phase A construction. After that date this Option expires. (ii) Phase II Tenants will be relocated within the Park under this provision prior to the thirty (30) day period just preceding the commencement of any Post Conversion Phase A construction. (iii) Phase II Tenants, who are relocated under, this provision, shall pay the same space rents charged for the "new" space as the former owner would have paid under this Agreement. Subsequent increases cr decreases in the rents will be determined in the same manner as any other Phase 71 Tenants remaining in the Park. (iv) Phase II Tenants choosing this option will not be entitled to be relocated more than one time within the Park, but remain entitled to sell as provided herein and remain eligible for those benefits enumerated under Section VIII of this Agreement. (v) Phase II Tenants electing this Option agree to: (aa) Sell his/her existing Mobile - home to the Agency for the Agreed Value within one hundred twenty (120) days from receipt by the Tenant of written notice from the Agency of its intention to proceed with any Post Conversion Phase A development involving the Tenant's new location; or, (bb) Select any other Option availa- ble to the Tenant under the Terms of this Agreement. (e) D tion 5-Relocation to Ocean View Estates II: All Phase II Tenants shall have the option, sub3ect to their t mimi ely election thereof and the availability of space, to be relocated to Ocean View Estates II. (i)•- Location: For purposes of this Agreement, Ocean View Estates II is the area specifically marked as such on Exhibit F-2 and is located adjacent to an existing mobilehome park in the City, Which is northeast of the intersection of Ellis Avenue and Goldenwest Street, Presently �.�. -21- �� F I N A L �.Wi . -- - — known as Ocean View Estates. ' This urea shall be that which is improved by the Agency in general conformity with the development plan attached hereto as Exhibit F and incorporated herein by reference. (ii) Offer to--- Relocate: Unless other- wise provided herein, the Agency shall offer to those eligible Phase II Tenants within the Park, and others who qualify, the Option to be relocated to Ocean View Estates tI when it is completed. (iii) Completion of Ocean View Estates II: The Agency shall be under no obligation to develop Ocean view Estates II, nor- relocate any Tenant to Ocean View Estates II, unless and until it decides it wishes to commence development of any portion of.the Site beyond Conversion Phase A. In addition, no construction, other than that necessary to complete Conversion Phase A, shall commence on the Site, nor shall any Tenant electing to be relocated to Ocean View Estates II be required to vacate his or her Mobilehome and/or space at'the Park unless: (aa) right to possess all real property for the period of twenty-five (25) years required for Ocean View Estates II is vested in the Agency; and (bb) the area previously described as Ocean view Estates I is fully developed as shown on Exhibit F; and (cc) Ocean View Estates IT is either: ( 1 ) fully developed as shown on Exhibit F including the public park land, lake, golf course, clubhouse and the mobilehome park; or (2) the mobilehome park is fully developed and the remaining portions of the new site is at least fully designed, but only partially completed, with the balance of the construction guaranteed by a completion bond in favor of the Association and the Agency as their respective interest may appear. . (iv) Cost of Felocation: The Agency will pay for the costa of relocating each Mobilehome and all add-ons, including, but not limited to, relocation of the Mobilehome, packing, moving, and unpacking of. all contents, all set up and hook up charges at Ocean View Estates II, and all replacemetist and/or refurbishment inside*and out to put the Mobilehome anti all add-ons into a condition on -site at Ocean View Estates IT at least equivalent to that it enjoyed at the Park. M Space Availability: The Agency shall make available at Ocean View Estates I and Ocean View Estates II -22- p I N A L as many spaces as are required for the relocation of Tenants from the Park up to one -hundred forty-five (145)..relocation spaces and may add to Ocean View Estates I up to eight (8) additional spaces for relocation of Pacific - Shores Tenants being relocated as a result of Conversion Phase A. (vi) Selection of Tenants for Ocean View Estates II: (aa) Qualification for relocation to Ocean View Estates II will first be granted to those Tenants who apply in writing, for this relocation at the time the Tenant executes this Agreement. If the nssmher of these applications exceeds the number of spaces remaining, then the selection will he from this group and determined by lot. ( bb ) In the event the first group of applicants do not occupy all available spaces at Ocean View Estates II, then those Tenants who apply, in writing, for relocation to Ocean View Estates II within thirty (30) days after receipt of their Notice of Appraised Value, will next be qualified for this relocation benefit. If the number of these applicants exceeds the number of remaining spaces, selection among this second group will be determined by lot. (cc) In the event the first two (2) groups of applicants do not occupy all available spaces at Ocean View Estates II, then those Tenants who apply, in writing, for relocation to Ocean View Estates II, within thirty (30) days after receipt of written notice from the Agency of its intent to proceed with the construction of any Post Conversion Phase A, will next he qualified for this relocation benefit. If the number of these applicants exceeds the number of remaining spaces, selection among this third group will he determined by lot. (dd) 3f more then one hunched forty- five (145) Tenants elect to be relocated to Ocean View Estates T and -Ocean View Estates I1, then the Tenants electing this Option 5, bL%t.who are not selected, may elect ta: - (1) Sell their Hobilehome to the Agency for the Agreed Value as other Phase Ii Tenants electing Option 3 above -Right to Sell their Mobilehome; or (2) If their space is not required to be vacant for the completion of the Conversion Phase about to he commenced, tkien they may resnain in the Park and receive the same benefits as Phase iI Tenants electing Option 2-Limited Right to Remain; or (3) Select one of the other Relocation Assistance Benefits as defined in Section VIII hereof; -23- F I N A L or (4) Select mobilehome park spare -within a seventy-five (75) mile radius of the City and be entitled to the same benefits affora d Phase I Tenants under Section V. B.2.(c), except that these T,:nants will not be entitled to relocation within the Park, Ocean View Estates I or Ocean View Estates 11 locations. If no space is available within the City for this purpose, because of the age of a certain Tenant's Mobilehome then the Agency shall purchase a new mobilehome for that -Tenant and relocate same to new park of Tenant's choice, within that radius, in the same manner- as stated in Section V, (vii) Space Selection: Specific space assignments within Ocean View Estates .I1 will be made by the Buyout Committee using the guideline that each Tenant selected will be placed on a space (as nearly as possible) comparable to the location of the space presently occupied by the Tenant at the Park. (viii) Qualification as Relocatable Mobile - home and Notices: Within thirty (30) days after receipt by the Agency of a Tenant's written notice to elect to be relocated to Ocean View Estates II, the Agency, in its sole discretion, Ehall determine if a Mobilehome is relocatable to Ocean View Estates II. The Agency shall, within five (5) days thereafter, give the 'tenant written notice of tis determination. The notice shall state whether or not the Mobilehome is relocatable and, if it is, the Agency's estimate of the relocation costs as described in subpara- graph (e)(iv) above. (ix) Elections Determined by Mobilehome Condition: Depending upon the relocatability of the Tenant's Mobilehome, the Tenant may be entitled to the following benefits: (aa) When the Mobilehome is over nineteen (19) years old, a single -wide or has been determined to be n(;;r- relocatable, then the Tenant sh er11 be entitled to have a new mobilehome purchased in the Tenant's name by the Agency and located at Ocean View Estates il,; or (bb) When the Mobilehome is over nineteen (19) years old, not a single -wide, but is relocatable, the Tenant may elect to have the Mobilehome relocated to Ocean View Estates II, and in such event, the Agency shall pay to the Tenant Wave Thousand dollars ($5,400) in addition to the relocation costs as described in subparagraph (e)(iv) above. (cc) When the condition of the Mobilehome meets the requirements for relocation but the Tenant." prefers a new mobi 1 ehome, then the Tenant may, within thirty ( 30 ) -24- _ ' F I 11 A L days after receipt by the Tenant of Lt.-. Agency's written determi- nation regarding relocatability and estimated relocation costs, require the Agency to purchase a new mobilehome for 'the Tenant. The Tenant shall pay to the Agency the' amount of the cost of the new Mobilehome after deducting therefrom the estimated relocation costs. In this event the Tenant shail.,cause-the old Mobilehome to be Y&moved from the Site. (dd) Any new mobilehome purchased by the Agency to fulfill its obligations hereunder shall be purchased in Tenant's name and delivered to Ocean View Estates II, at Agency cost- and expense. The new mobilehome shall be unused and substantially equivalent in size, utility and quality as Tenant's existing Mobilehome. Agency shall consult with each Tenant and cooperate to attain Tenant's reasonable preference with regard to style and floorplan of the substitute mobilehome. Should a Tenant desire a larger or upgraded substitute mobilehome, the Tenant shall be required to pay the additional costs attributable to the upgrade. (x) In the event that Tenant does not notify the Agency, in writing, of his/her selection of this Option within the allowed time frame, the Tenant will he deemed to have waived the election to be relocated to Ocean View Estates II and this Option will no longer be available to that Tenant. S. Non -Resident Tenants Each Non -Resident Tenant shall sell his/her Mobilehome to the Agency and the Agency shall buy same under the following terms and conditions: (a) O tion 1-Immediate Bu out Cases: Any Non - Resident Tenant may, -wit in thirty (30) days of the date of receipt of the Notice- of Appraised Value, apply to the Buyout Committee for certification as an Immediate Buyout Tenant as specified under the Immediate Buyout Option above. All who are in the Conversion Phase A or Conversion Phase B area, who timely apply, shall be deemed qualified for cer_tification as an immediate BuyoLTt- case. ' (b) Option 2,-Sale (i) Offer to Purchase: up to one hundred eighty.(180) days before the scheduled commencement of any Post Conversion Phase A construction,, 'the Agency shall offer to pur- chase the Mobilehomes of the then remaining Non -Resident Tenants for the Agreed Value. If the Agency determines that the removal of any Mobilehome is required For that scheduled development, it shall so notify the Tenant and it will be compulsory for the Tenant to accept the offer. If the removal of the Mobilehome is not required, as determined by the Agency, then the Tenant shall P Y N A L M within same. sixty (60) days after receipt of the offer accept or reject -� (ii) Escrow and Payment for Mobilehome: Within thirty (30) days after receipt of acceptance of its offer to purchase, the Agency shall open Ah escrow with a scheduled closing date sixty (60) days thereafter, or sooner if the parties so agree. All costs of the escrow shall be borne by the Agency. (iii) Close of Escrow, Payment to Tenant and Possession of Mobilehome: (aa) Before selling Tenant shall execute and deliver necessary to transfer free, marketable Mobilehome to the Agency, and the Agency entire purchase price and any additional all escrow costs. close of escrow, the to escrow all documents and clear title to the shall pay to escrow the amounts necessary to pay (bb) Upon close escrow shall: (1) pay all liens and encum- brances against the Mobilehome; and (2) pay to the Tenant 1001 of the remaining sale proceeds upon the Tenant vacating the premises and providing escrow with an executed Declaration of Vacancy and Receipt of Benefits in the form of Exhibit E attached hereto; and (3) Deliver all transfer docu- ments to the Agency. (cc) All Non -Resident Tenants who sell their Mobilehomes, either under the Immediate Buyout provi- sion or this paragraph, shall, in addition to other obligations they may have herein, at close of escrow, deliver to the Agency the Mobilehome free of any occupants. (c) Option 3-Limited-Right `to Remain and Rents Due: If the Mobilehome owned -by- the Non -Resident Tenant is not located -within the next scheduled development phase, then the Non -Resident Tenant may elect to regain in the space. In that event, the rental rate for the space shall continue to be the same with annual increases determined in the same manner as other Tenants who remain in the Park, Eligible Tenants electing to reject the offer to purchase will be entitled to a new offer to purchase before commencement of any- subsequent construction phase. (d) Responsibility for Subtenants: It shall be the. responsibility of the Non -Resident Tenant to deliver his or her Mobilehome to the Agency free of occupants, and any compen- -26- - • � �../ F X N 1! L 'sation to.which the Tenant's sublesseals) may be entitled, if at all, shall be paid one-half•(1/2) by 6e Non -Resident. Tenant up to a total paid by the Non -Resident Tenant of One Thousand Dollars ($1,00'0) and the remaining sum paid by the Agency. The Agency shall indemnify and hold the Tenant harmless from any other claim for relocation benefits made by such occupants. (e) Non -Availability of Options; Except for the right and duty to sell for the Agreed Value as specified above, or to apply as an Immediate Buyout Tenant, the Non -Resident Tenant shall have no other Options to receive Relocation Assist- ance Benefits under this Agreement. 6. Renters (a) Those parties who, as of the date of this Agreement, occupy a Mobilehome within the Park, but have no owner- ship interest therein are not entitled to. receive 'any benefits from the parties hereto under this Agreement. However, benefits, If any, that might be due such Renters shall be paid in accordance with the paragraph entitled Responsibility for Subtenants. under Paragraph 5.(d) of this Section. ( b ) A party who, as of the date of this Agree- ment, owns an option to purchase the Mobilehome in which he/she resides and who timely exercises the option to purchase shall he deemed to be the Tenant for purposes of this Agreement and entitled to the benefits herein contained. There shall, however, be only one benefit package offered for each•space. VIII. OTHER RELOCATION BENEFITS A. Moving 'of Mobilehome: All Tenants shall, in the alternative to any other benetits specified herein, have the right to have their Mobilehome relocated anywhere within the United States at Agency's expense. rrhe cost: of this relocation shall not exceed fifty percent (50%) of the- Agreed Value. if the actual cost -of relocation is less than fifty percent (50%) of the Agreed Values -then the difference shall be paid to the Tenant by the Agency.' If the cost is greater, then the Teant shall bear the excess -expense. B. Discount and Low Cost tlousinq: All Tenants shall he offered, if reasonably avax a e, t e addi ional right to: 1. Purchase a condominium, if one is built on the Site, at a discounted price bf Fair Market Value less ten percent (10%), provided Tenant agrees to, and does, reside in the premises for a two (2) year period and not sell or otherwise transfer the ownership interest therein for that period,- unless Tenant pays to the developer the amount previously discounted from the Fair Market Value. RUM shall give each eligible Tenant written notice -27- - F I 11 A L of the scheduled completion and availability of these units no less than six (C) months before such date. Within thirty (30) days thereafter, Tenant must contact RLM, in writing, indicating the Tenant's interest therein. This offer thereafter terminates as to those Tenants who do not respond. -Those who have indicated an interest must open an escrow for the purchase of the condo- minium within thirty (30) days of the date the units are First available for occupancy. 2. For a period of cne (1) year from the first day units are available, rent from RLM any available new residential rental units built on the Site at the -same rental rate offered to the public less ten (10) percent provided a written application to rent is given RLM within thirty (30) days of the date the units are first'available for occupancy. 3. Obtain low cost rental housing in the City at Emerald Cove or housing similar thereto when available. This offer shall expire one year after the Option is first made avail- able to the Tenants. C. EarlX Relocation Benefits: The parties anticipate that the entire redevelopment wi occur in the manner and/or on the time schedule as stated in Exhibit C previously referenced. if, however, -the Agency desires to accelerate the redevelopment of the Site, and as a result, a Tenant is required to relocate sooner than the projected dates affecting that Tenant, the Tenant shall be entitled to receive an additional benefit. This benefit will be the payment by the Agency of an additional amount to the Tenant equal to four percent (0) of the Agreed Value for each year, or part thereof, that such Tenant is required to vacate his/her space in the Park in advance of the projected crates. This sum shall be paid at the time of payment of any other sums due hereunder or at the time of relocation, whichever first occurs. D. Payment of, Existing Secured Financial Obligations. In the event a Tenant elects to relocate -his/her Mobilehome during the term of this Agreement, either to Ocean View Estates I or TI, or to some other location, or buy a relocation Mobilehome within the Park'provided for herein, it is the -intent of the parties that any secured financial obligation attached to the Mobilehome will merely be transferred to the Mobilehome at the new location or to the new mobilehome, as the case may be. however, if for any reason, the action of moving the Mobilehome or acquiring title to a different mobilehome causes a secured financial obligation to become due and payable, in**full, then the Agency shall pay that entire obligation and provide the Tenant with secured financing for the same amount, under the same terms, at the new location of the same or different mobilehome. The amount so financed shall not exceed those sums eligible as defined in Section T . D. above. -28- ' . ' IX. TERMINATION OF SPACE AVAILAIsILITY AT OCEAN VIEW ESTATES •I AND II It is understood that Ocean View. Estates I and II shall be constructed pursuant to this Agreement and shall exist only for a period of twenty-five (25) years from the opening for occupancy of the area known as Ocean View Estates II. It is further under- stood that Ocean View Estates I and II will be a mobilehome park constructed solely for the purpose of providing temporary mobile - home housing for certain Tenants displaced by the redevelopment of Driftwood Beach Club Mobilehome Park. The Agency, as the provider of the property upon which Ocean View Estates I and II will be constructed, transfers no rights to occupy said property beyond that twenty-five (25) year period. Therefore, the following provisions shall apply: A. Tenant hereby agrees that he/she has no right to possess or own the property upon which Ocean View Estates I and II shall be located except as a Tenant of -a mobilehome park and said right shall cease automatically twenty-five (25) years after the area known as Ocean View Estates II first opens for occupancy. B. Tenant hereby represents that he/she has no expecta- tions as to the "in .place value" or "in park value" of mobilehomes which are to be located in Ocean View Estates I and II other than the Agreed Value as established by the provisions of this Agree- rr.ent. C. Tenant hereby represents that he/she has not retied upon any belief or representation that the value of the mobile - homes in Ocean View Estates I and II will inflate or decline prior to the termination of his/her possessory rights thereto. D. It is mutually agreed that this Agreement shall act as and shall be considered as the eighteen (18) month Notice of Change of Use of Ocean View Estates I and It which is to take place twenty-five (25) years after the area known as Ocean View Estates II is first opened for. occupancy.: On said date, upon proper notice by the Agency to the Tenants, Ocean View Estates .I and I.will convert to use as a_public park. E. It is mututally agreed that this Agreement shall be considered to be -and shall act as the six (6) month Notice of Change of Use and any other notices of change of use required by state, federal or local law. F. Tenants, on behalf of themselves, and each of their executors, administrators, heirs, successors, and assigns hereby waive the right to receive further notice that their tenancy at Ocean View Estates I and II shall be terminated as of a date twenty-five (25) years after the area known as Ocean View Estates II is first opened for occupancy. .� -29- r- F I N A L G.. It is further agreed that the construction and maintenance of Ocean View Estates I -and II are part of a Reloca- tion Assistance Plan. and Reiocatioi, Agreement that have been .prepared and negotiated pursuant to a Conversion Impact Report on the Park and 'Article 927 of the H untinyton Beach Municipal Code. Tenant- agrees that the Conversion Impact Report, Relocation Assis- tance plan and Relocation Agreement also apply to the conversion of Ocean View Estates I and II to public use which will take place twenty-five (25) years after the area known as Ocean View Estates 11 is first opened for occupancy. -Tenants, on behalf of them- selves and each of their heirs, executors, administrators, successors and assigns hereby waive any and all .right, now and in the future, to demand or require additional Conversion Impact Reports and/or Relocation Assistance Plans as to Ocean View Estates I and II. H. Tenants, on behalf of themselves and each of their heirs, executors, administrators, successors and assigns hereby naive any and all right to receive any relocation benefit wfien Ocean View Estates I and II close except those specifically enumerated herein. I. Tenants, on behalf of themselves and each of 'their heirs, executors, administrators, successors and assigns hereby waive any and all right to object to the closure of Ocean View Estates I and I1 after the termination date and agree to vacate the space immediately upon receipt of a written sixty (60) clay tlotice of Termination of Tenancy. J. Tenants agree to give notice to subsequent purchasers of their mobilehomes at Ocean View Estates I and IT of this status and the requirements placed upon the buyers under this Agreement. Said notice shall conform substantiaSly to the notice attached hereto marked Exhibit G. X. PAYMENT OF UTILITY COSTS It shall be the Tenant's obliga_tion to pay all utility chards attributable to his/her Mobilehome for so long as it is owned or occupied by the Tenant or a Renter while at the present Site .or by the Tenant after relocation --to Ocean View Estates I or XI. . XI. FREE ALIENABILITY OF MOBILF.110MES AND VALUE GUARANTEE A. Sale Within Park: 1. It is the intent of the parties that this Agree- ment will result in the Tenants enjoying free alienability of their Mobilehomes without being burdened with a possible change of use and the resulting consequences to the value of the Mobilehome that might result. Therefore, Tenants wishing to sell their -3n- I x H A L Mobilehomes within the Park may attemp4 to do so after the date of this Agreement. on each anniversary of this Agreement, up to ten (10) Tenants who have attempted to sell their Mobilehomes in the Park,.for a period of at least ninety (90) days and have been unable to sell for the Agreed Value, may then offer to sell the Mobilehomes to the Agency for the Agreed Value. The Agency may then -elect within thirty (30) days to acquire the Mobilehomes at the Agreed Value or elect to allow the Tenants to sell the Mobile - "homes on the open market for ninety (90) days and immediately upon the close of escrow, if the Tenants receive less than the Agreed Value (before paying any liens) the Agency shall pay the differ- ence to Tenants, but if the Tenants receive more than the Agreed Value, Tenants shall retain all sale proceeds. In the event more than ten (10) qualified Tenants offer to sell their Mobilehomes to the Agency on each anniversary date, the Agency will determine by lot which ten of these Mobilehomes it will buy and/or guarantee the sale price. 2. Tenants may transfer all of their relocation benefits to buyers of the Mobilehomes, and the buyers shall receive all benefits to which the sellers were entitled, except that the Agreed Values at time of purchase will be reduced for the buyers to the amount paid by the buyers if the sale price is for less than the Agreed Value, but it will not increase the Agreed Value if the sale price exceeds that amount. After purchase, the Agreed Values will be adjusted according to the provisions contained in Exhibit D. 3. Buyers will he approved and allowed to reside in the Park only under the following conditions and/or circumstances; (a) Buyers must agree, in writing, to accept the benefits which _the selling Tenants would have been entitled to under this Agreement, and no more; and (b) Buyers inust comply with all reasonable prerequisites, rules and regulations maintained by RLM for the management of the Park. B. Sale Fit Ocean View Estates I and II: 1. Right of Resale and Price Guarantee: Any Tenant who relocates to Ocean View Estates I or II, and after the second year following occupancy, is unable to sell the Mobilehoine for a price equal to the Agreed Value for a period of no less than ninety (90) days, may then offer to sell to the Agency for the Agreed Value. The Agency.may elect, within thirty (30) days following written notice of the offer to sell, to either: (a) Acquire Tenant's Mobilehome at the Agreed Value and pay all costs occasioned by the sale; or -31- '•�_ I ?: A L (b) Permit .Tenant to sell the Mobilehome on the open market and. immediately upon close of escrow, if the Tenant receives less than the Agreed Value (before paying any liens-), the Agency shall pay the difference to Tenant, but if the Tenant receives more than the Agreed Value, Tenant -shall retain all sale proceeds; (c) Failure by the Agency to provide Tenant with written notice of its election within thirty (30) days of receipt of the offer to sell by the Agency shall be deemed to be rejection of the offer and an agreement to proceed under paragraph R.1.(b) of this Section. C. Certificate of Tenant Benefits and Rights: Upon receipt of proper notice of any election of benefits by any Tenant hereunder, Agency and/or RLM, as the .case may be, shall promptly issue to the Tenant written receipt of the notice and certification of the particular rights and benefits involved. These shall be confirmed in writing to third parties such as a prospective buyer or a lending institution by Agency and/or RLM promptly upon written request of the Tenant. XII. WAIVER OF RIGHTS AND ASSUMPTION OF OBLIGATIONS A. Tenants' Waiver of Rights. Upon execution of this Agreement, the Tenants do hereby relinquish, release and waive any rights they might have, past, present or future to object to any redevelopment of the Site on the following grounds: 1. That they are entitled to continued use and occupancy of the Site because of a sublease agreement they have with RLM which extends beyond the commencement date of this Agreement, 2. That they are entitled to occupy or possess any space in the Park and any common areas therein under Claim of right which may be contained in the Mobile Home Residency Law (Cali-fornia Civil Code Section 798 et seq.); California Government Code Sections 65863.7 and 66427.4; California Health and Safety Code -Sections 33411-33417; California' Government Code Section 7260 '(et seq.) and Section 6000 (et seg.); California Administra- tive Code Title 25 and Article 927 of the Huntington Beach Municipal Code. 3. That their relocation benefits, or any other form of financial compensation to which they are entitled under this Agreement, are inadequate or do not provide for affordable or replacement housing on or off of the Site. B. Association Waiver of Rights. Upon execution of this Agreement, the Association, for itself alone, and not on -32- P I h A L behalf of its individual members, ,does hereby relinquish and waive any right it has, past; present or_ future, to object to the present RLM plan to redevelop the Site.- C. Assumption of Obli atiorns. in the event the Site is redeveloped under any pan approve -Fy the Agency prior to the year 2013, the Tenants do hereby agree to: 1. Vacate the spaces being occupied by the Tenants upon, being given at least one hundred eighty (180) days written notice by the Agency that the Agency has approved a redevelopment plan for a portion of the Site, and that possession by the Agency, or its designee, of the spaces being occupied by the Tenants is necessary for the implementation of the next Conversion Phase. This determination shall be made by the Agency in its sole discretion; however, there shall be no development commenced beyond Conversion Phase A before .the minimum commencement dates indicated in the Conversion Phase portion of Exhibit C, except as provided for herein. 2. Notify the Agency of the relocation benefit Option under which they elect to receive relocation benefits as provided herein.. 3. Cooperate with the Agency in anyway necessary to implement the plans, except, notwithstanding the foregoing, Tenant specifically reserves the right to object at any public hearing pertaining to a plan for redevelopment of the Site provided the basis for objection is not specifically waived in Section XII.A. above. XIII. PAYMENT OF COSTS AND EXPENSES TO ASSOCIATION Upon execution of this Agreement, RLM shall pay to the Association a sum up to One Hundred Seventy-five Thousand Dollars (S175,000) for reimbursement of all costs and expenses including attorney's fees incurred by 'it, and its predecessors to date of - this, -,Agreement, These costs and expenses were incurred in responding to the proposed change of use of the Site and the negotiation and preparation of this Agreement. Any additional costs and expenses including attorney s fees incurred by the Association after the date of. this Agreement, to implement the terms of this Agreement, shall he paid by RIM. This additional sum shall not exceed Twenty-five 'thousand Dollars ($25,0n0). XIV. ASSOCIATION TO 13E.MASTER TENANT AT OCEAN VIEW ESTATES I AND II�' Upon commencement of any Post Conversion Phase A construct- ion, the Agency shall lease to the Association the premises previously referred to as Ocean View Estates I and Ocean View Estates II except the public park, 1ple` and golf course areas -33- F I N R L MW contained herein. The terms of that -tease are indicated in that certain Lease Agreement between the' -Agency and the Association which is attached hereto, marked Exhibit 11 and incorporated herein. XV. AVAILABILITY OF BENEFITS UNDER THIS AGREEMENT Tenants shall be required to execute this Agreement within thirty (30) days after receipt of a copy of this Agreement and Notice of its approval by RLM, the Association, the City and the Agency. In the event that any Tenant fails to execute this Agreement within that time period, or sooner, it shall he presumed that the Tenants who so refuse to sign are refusing the benefits herein, and those Tenants shall only be entitled to the minimum benefits allowed under Article 927 of the Huntington Beach Municipal Code. XVI. MISCELLANEOUS PROVISIONS A. Waiver. The waiver of any term, covenant or condi- tion herein conta—f e� shall not be deemed to be a waiver of such term, covenant or condition to any subsequent breach of the same or any other term, covenant or condition herein contained. B. Marginal headings_. The Marginal headings and titles of this Agreement are not a part of this Agreement and shall have no effect upon construction or interpretation of any part hereof. C. Time. Time is of the essence of this Agreement and each and all ofitsprovisions in which performance is a factor. D. Successors and Assiqns. The covenants and condi- tions herein contained apply to ana bind the heirs, successors, executors, administrators and assigns of the parties hereto. E. Prior Agreements. . This Agreement contains all of the Agreements ot the parties hereto with respect to any matter convelyed or mentioned in this Agreement, and no prior agreements or understanding pertaining to any such matters shall be effective for any purpose. No provision of this Agreement may be amended or added to except by an agreement, in writing, signed by the parties or their respective successors in interest. F. Partial Invalidity. Any provisions of this Agreement which` shall prove to be invalid, void, or illegal, shall in no way affect, impair or invalidate any other provisions hereof, and such other provisions shall remain in full force and effect. G. Choice of Law. This Agreement shall be governed by the laws of the State of California. -34- 1 F I N A L H. Attorneys Fees. In ifie event of any action or proceeding broui9-Ft by any party against another party to this Agreement, the prevailing party shall be entitled to recover reasonable attorneys fees, including costs of appeal. I., Notices. All notice, and demands which may or are to. he required or permitted to be given by a party on another, shall be in writing. All notices and demands shall be sent by United States mail, postage prepaid,, certified/return receipt, addressed to the receiving party at- the address hereinafter stated, or to such other address as a party may from time to time designate in a notice to the other parties. J. Enforcement. 1. This Agreement is specifically enforceable by the Agency, RLM, the Association and any Tenant who has executed this Agreement and who has not received the benefits herein due to a breach of this Agreement by either RLM or the Agency. 2. A breach of obligation by RLM or the Agency with respect to one or more Tenants shall not act to prevent perform- ance by other Tenants. 3. Tenants shall be obligated to perform under this Agreement so' -long as Agency and RLM perform those obligations herein that specifically affect or apply to each of them indivi- dually. No Tenant may refuse to perform under this Agreement where the Agency or RLM have failed to perform obligations that are particular to any other Tenant. continued on next page F I N A L K. Counterpart Execution. . This Agreement may be executed in counterparts, each of which shall be fully effective as an original and all of which together shall constitute one and the same instrument. In witness_ whereof, the parties have executed this Agreement as of this day of `�;,�,��,� 1988. REDEVELOPMENT GFNC OF THE APPROVE TO FORM: CITY- OF HUNTI� ' TON EAC By By ��ti Agency Counsel v� RLM P 0 ERTIES, LTD., a California ATTEST: Limited Partnership Clerk By DRIFTWOOD BEACH CLUB MOBILE HOMEOWNERS ASSOCIATION, INC., a California Non -Profit Corporation By INDIVIDUAL TENANT SIGNATURE PAGE ATTACHED -36- • P I N A L INDIVIDUAL TENANTS SIGNATURE PAGE �I/We, the undersigned, '(Please Print Your Name(s)- owner(s) of the mobilehome located on Space , of (Fill in Number) the Driftwood Beach Club Mobilehome Park, do hereby agree to the terms and conditions of the MOBILEHOME ACQUISITION AND RELOCATION AGREEMENT by and between REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, RLM •PROPERTIES, LTD., a California Limited Partnership, DRIFTWOOD BEACH CLUB MOBILE HOMEOWNERS ASSOCIATION, Inc., a California Non -Profit Corporation and the INDIVIDUAL TENANTS of the Driftwood Beach Club Mobile Home Park dated 1988 and hereby acknowledge receipt of a copy of the Agreement totaling pages, including Exhibits A through H and this signature page. Date Date r - Signature Signature -37- .� - --- ---------------- ----•------------------�-------------------------; ------------------------ - "ti •r I / tI � I I •� '� �tI11II111�` 1 / lost$ �1 t" .. :. • + + ■1 • • . 1+ ■ ■ ► +r 1, + + I �1 �I Yt 1�� �Y r 1} Y 1 ffe c . —1 lU�s��1, i , L Ili •]�1 ��` /� ��� h� 1 r. Im w �j �..... V r SITE BOUNDARY 21462 Pacific Coast Highway Huntington Beach, Ca. 92648 } EXHIBIT A SPACE ----- M/M -------- I Mr. & Mrs. 2. Ms. O Ms. A Mr. & Mrs. 5 Ms. Mr. & Mrs. V Mr. & Mrs. LSD Ms. Mrs. 9� Mr. & Mrs. 10 Mr. & Mrs. G Mr. Ms. 12 Ms. Mr.. Mr. & Mrs. 15 Mr. Mr. & Mrs. 19 Ms. 18 Mr. & Mrs. 19 Ms. 20 Ms. 2 Mr. & Mrs. 22 Mr. & Mrs. 23 Ms. 24 Mr. & Mrs. 25 Mr. 2S Mr.. 27 Mr. & Mrs. 28 Mr. & Yrs. V FIRST George Dorothy Willa Vee Dennis Marian Donald Paul Geraldine Marie Claude 11.B. Edward Roger John Richard Lois Ione Bonnie Richard Charles Albert William Fern Ethel Frank Elizabeth Susan Aniello Dan Carol David Donald otis Willis William -.I- LAST Corbari Pinkham Winthers Shea Phillips Cosby Beck Floret (Trustees Williams Watson Fountain Cooper Earl Figgins Upton Castrop Behar Shatto Gordon Cutrone Rosenhauer Ziegler DiCrisci Gleason Bell Markley Mullen Werb Anderson -.Shannon EXHIBIT 8 SPACE ?:f M FIRST IAST P I I. ----------------- -------------------- . x9 Hr. & Mrs. Everton Crormett Ms. Mary Bradbury 31 Mr. Ray Dolan Mrs. Margerie ca s - fiaward 3� Mr. & Mrs. Joseph Anderson 34 Mrs. June Steinmetz 35 HE. Marilyn McCabe 36 Mr. & Mrs. Samuel b Francis Beatty 37 Mr. & Mrs. Alan & Barbara Le 38 vs. Betty Smith Ms. Helen Snider Mr. Robert Berkner 4o Mr. John Heirs 41 Mr. & Mrs. William Essick Mr.' & Mrs. Read Whittemore 43 Ms. Vera Wadleigh 44 Mr. Gerald Jordan 45 Mr. & Mrs. James ]tall Mr. & Mrs. William Dowell Mr. & Mrs. Albert Crawford 48 Ms. Patricia Fells Ms. Gladys Berry o Mr. Gary Gascon 5 Mrs. Robert Bryden Estate of Robert Bryden 5 X.S. Xeldee Perry 53 Ms, Jeanne Howell 54 fdx. David Weisbart 55 Ms. Bernice Stoddard 56 far. & Mrs. Robert - ruder -2- .- ��-� ••.+ram+-••r w.• • • . SPACE X/M FIRST ------------ ---------------- 57 Mr. & Mrs. Dwaine 8 Mr. Leroy 59 Ms. Audrey 6Q Mr. Ralph 6� Mr. & Mrs. Richard b2 Mr. & Mrs. Roberto 63 Mr. Douglas Ms. Jan 64 Mr. Gary 65 Mr. & Mrs. Mark 66 Mr. P. 0 Mr. & Mrs. Richard 68 Ms. Dorothy 69 Mr. & Mrs. Mortimer 70 MS.' Joan 71 Mr. Dale Mr. & Mrs. Billie & Alonzo 72 Ms. Myrtle 73 74 Ms. Ruth Ms. Trudy 75 Mr. & Mrs. Art 76 Ms. Kirsten 77 Ms. Dorothy 78 Mr. & Mrs. Harold aMs. Betty 80 Ms. Nancy.. 8 Mr. & Mrs. Dan 82 Mr. & Mrs. William 63 Mr. & Mrs. H.W. 84 Mr. & Mrs. Robert -3- nuux � -�t uuwc owners r LAST F -------------------- Stephenson Davis Bridges Provow Jones Russo Bailey wood Brooks Hartl Walker Miller Barker Shea Allan Carter Carter Stubkjaer RLM Properties, Ltd. Harrison Harrison Petersen Wilson Fowler Fratus Yates Stover Keeney Radovich McClain - Mascorro I ?7 A L - __-ti r.,..i. ro- K MOD' a tiome owners. SPACE M/K � � FIRST LAST � rt rD85 -----------i-..------------ w------------------- Mr. David H. Friedemann Mr. Richard C. Stratton 1I s5 Mr. Charles i,amberson 87 Ms. Maria. Mitchell 88 Hs. Anna Bashforth Ms. Maria Sanders 89 Ms. Mary Perry 90 Ms. Yvetta Sheneman 91 Mr. & Mrs. Harry Mood 9� Mrs. Georgie Pulliam 93 Ms. June Johnson 94 Mr. & Mrs. Stephan hall 95 Mr. & Mrs. Earl Wallace 96 Mr. I Mrs. Beverly Roll 97 Mr. Frank Chambers 98 Mr. & Mrs. Jerry Shaw 9�3 V..r. John Fleming Ms. Ann Marie Fleming 0� Mr. & Mrs. Robert Conger 101 Ms. Wilma Bloodhart 102 Ms. Diddy Bauman 203 RIB Properties, Ltd. 144 Mr. & Mrs. Don Ray Z05 fir. & Mrs. Alan Leahy 105 Mr. Don Curry 107 Mr. & Mrs. Arthur Bray 108 Mr. & Mrs. Leonard Barker 0 Mr. Dean Painter 110 Mr. & Mrs. John Chung ill Mr. & Mrs. Jerrold Kreps i12 Mr. J. McNeil -a- I N A L _ __ _»...._ ..�.,4.• �,iuo rioplieliume ! :,k }fobNome Owners SPACE MjM FIRST LAST F I N A L r---w--- --- w------------------------------- -113 Mrs. Katherine Groszkruger Mr. Fred Groszkruger 114 Ms. Ann Hammond 115 Ms. Maxine ball 116 Mr. & Mrs. Michael Sweeney i17 Mrs. Harold Derrick Estate of Harold Derrick 118 Mr. & Mrs. Wayne ]iann 119 Mr. & Mrs. John Hamann 12 Mr. & Mrs. Vernon Pettey 200 Mr. Gary fleck 20 Ms. Eleanor Comer 204 Mr. & Mrs. James Parmeter 05 Mr. Sabina Cici Estate ❑f Mrs. Sabino Ciei 208 ms. Loretta Luce 210 Ms. Margaret Pickett 212 Ms. Marilyn McCabe 214 Mr. & Mrs. Richard Welsch 216 Ms. Linda Earle 218 Mr. & Mrs. Roger Stadlman 220 Mr. & Mrs. Robert Kent 222 Mr. & Mrs. Ivan Schoenthal 224 Mr. R.W. "Bill" schoepf 226 Ms. Bonnie Ahrens 228 Ms. Esther Teele 230 Mr. & Mrs. Patrick Butters Ms. Marie Noppenhafer 232 Mr. & Mrs. Hurst Gentry 234 Ms. Esther Stamp 236 ks. Jan _ Benkin Ms. Barbara Benkin -5- .._ _..........A .,«..c' %-iUb Mooiienome ra:k Mobi' come owners ' SPACE M/P. FIRST LAST p I N A L ----------------------------------------------------.. - 238 Ms. Margaret Ann Tarr Mr. William B. Tarr 240 Mr. & Mrs. Ronald Macrory 242 Mr. Kerry Levan Ms. Carol Levan 244 Hs. Janet Lee . 24b Ms. Emily May Munson 248 Mr. Robert Brilhart 250 Mr. & Mrs. Robert Stutler 252 Mr. Scott Bryant 254 Mr. William Baldwin 256 Mr. & Mrs. Carlo peMarco 258 Mr. & Mrs. Randy Blanford 60 Ms. Betty Richardson 62 Ms. Mildred 3ohnson 254 Ms. Joanna Rhynsburger 266 Ms. Patricia Kolsky 268 Mr. Mark Riehm 270 Mr. & Mrs. Penrod Rideout 272 Estate of Maragaret Smith Ms. Margaret Smith c/o P. tiorris 274 Mr. & Mrs. James nuke 276 Ms. Carol Montoya Margarita Montoya 128D Mr. & Mrs. George Sotier )Jr. & Mrs.' G. Alexander 282 Mr. & Yrs. Ralph Stone 284 Ms. Sarah Schafer 286 F.S. Louise Evanstad 288 Ms. Hilary Sween 290 Mr. Wesley - Badger Ms. Marie Pedro - 6- Driftwood Beat -it Club Mobilehome P, i. Mobile Home Owners SPACE M/M FIRST LAST F I N ------------------------------- -------------------- 301 Ms. Evelyn Claude 30 Ms. Varole Cattilini Estate of Ruth Converse 303 Mr. Steve Fagnant 304 Mr. & Mrs. 305 Ms. 306 Mr. & Mrs. 307 308 Mr. & Mrs. 309 Ms. 310 Ms. 311 Ms. 312 Mr. & Mrs. 313 314 Mr. & Mrs. 315 Ms. 316 Ms. Ms. 3 77 Mr. & Mrs. 1320 Ms. Mr. & Mrs. Mr. & Mrs. 321 Mr. & Mrs. 322 Mr. Ms. 323 Ms. Mrs. 324 Mr. & Mrs. 325 Ms. Mr. Robert Shelton Ingrid Gaddis Stanley Parker RL.M Properties, Ltd. Reed Blattman Rose Perez Marguerite Stipe Eleanor Corella Ted Hendrix RLM Properties, Ltd. Phillip Carlin Patricia Falkenstein Ellen Josephine William Grace Harold Bill George Robert Mazie Rebecca Roscoe Estate .of Peter Barbara Donald 326 Mr. & Mrs. Dale Hanley Moore Franke Brooks Jones Humphries Fadar Boardman Kroesch Bolton Marinovich Roscoe Marinovich Pence Dittrick Kolosjnik - Wilson A L -7- Driftwood Beat,.. Club Mobilehome I -k Mobiie Home Owners SPACE M/M FIRST LAST F I N A L 327 Mr. Dan Brennan 328 Estate of Moses Simon Mrs. Moses Simon 329 Estate of John Hubbard Ms. Mary Dawson 401 Mr. & Mrs. Michael Stuhl 402 Mr. Edward Hoag Ms. Virginia Lynn Singer 403 Mr. Ben Zuazua, 404 Mr. & Mrs. Wayne Combs 405 Mr. Richard Russell 406 Ms. Frances Tobar 407 Mr. & Mrs. James Blough 408 Mr. & Mrs. Phillip Battaglia 409 Mr. & Mrs. Clyde Frishholtz 410 Mr. & Mrs. Henry Anderson 411 Ms. Annie Ferguson Ms. Sara Ferguson C4121 Ms. Kay Fogel 413 Community Disposal Mr. & Mrs. Russell Otting 414 Estate of Robert Webb Mrs. Robert Webb 415 Mr. & Mrs. Sherman Thompson 416 Mr. Edward Sine 417 Mr. & Mrs. Douglas Webb 418 Ms. Ruth Waller 419 Mr. & Mrs. Ross Dodge 420 Mr. & Mrs. Floyd Curnett 42 Mr. & Mrs. Richard Bluel 422 Ms. Dorothy Clement 423 Ms. Eleanor - Thompson 0f10 Driftwood Be�.,i Club Mobilehome I= .rk Moe home Owners • - SPACE Y./Y.FIRST LAST F x -N A L - ----- 4Z4 ---------- Mr. & Mrs. ---------------- Kenneth -------------------- Sidwell 4Z5 Mr. & Mrs. Paul Feeger 425 Mr. & Mrs. Fredrick O'Keefe 427 Ms. Elizabeth Stowell 428 Mr. &-Mrs.. Ted Turrell 4 99 Mr. & Mrs. Eldon Van Rtta C 430 Ms. Barbara McIver 431 Mr. & Mrs. Robert Junginger 432 Mr. & Mrs. van Killian 43 Mr. & Mrs. Richard Lynch 434 Mr. 6 Mrs. Theodore Tennies 435 Ms. Evelyn Gorman 436 Mr. & Mrs. George Elms . 437 Xr. Lee Saroni 438 Ms. Ida Stoico 439 Y.r. &Mrs. Robert Rederer 440 Ms. Letitia Matlock Ms. Ruth Sawyer 44 Ms. Claudine 11offman 442 Ms. Teri Guy 443 Mr. & Mrs. Willard Gnagy 444 Mr. & Mrs. John Busta NOTE: Space numbers of Association members are circled. -9- ;onversion C NOTE: — -- -- -- z --- — A -------------------- -- - _ _ 0 CONVERSION PHASE C Park Estimated ame Numbers =otal Count DAte of Closure 11--19 5b--120 . 200-204 258-290 401 95 5/1990 EXHIBIT C-2 ---------------------------- ------------------------- ----------------------------------------- i-�-.�,.. i� � F I tJ A i. ,• - 0 c / CONVERSION PHASE A & B /Conversion Park Estimated / _Phase 5pace_Ngmhers Zo_tal ou of Cloure A 306-315 i 321-329 ; 19 11 /15/1988 B—Optional 301--305 Optional with 316--320 10 Phase A t DCF l= C-1 ----------------------------------------- M CONVERSION Park Spa ers Total Count Estimated Date of -Closure D 1-10 402-444 53 5/1993 EXHIBIT C-3 .____._ ---4..�-----. -- �. ..------------ - - - - ---------------------------, f E 2065256 62 5/1994 EXHIBIT C-4 rc 5 Q C 260 240% CONCEPTUAL ADJUSTMENT TO'"APPRAISED VALUE" TO DETERMINE "AGREED VALUE" 220 0 a 200" in 180ee 1� Q 140 S�'� �r 0 ��� tzs G.P�r�r 1� � Z 120 a � 1 r �5000000 t w r �� 2 iw�"ar ASSUMES C.P.I. D%/YEAR a *APPRAISED VALUE" w AT DRIFTWOOD ` % 20% OF iE3 e , 1 "APPRAISED VALUED F- ,% AT DRIFTWOOD 20:-t--_....--_._._--_.-----------.—_..,.._.._------_ I►0 n -,—�------�--r -- t IH 0 1 2 3 4 6 6 7 3 9 10 11 12. 13 14 15 16 17 18 19 20 21 22 23 24 25 YEAR GRAPH IS AN ILLUSTRATION OF THE CONCEPT ONLY. SEE THE AGREEMENT FOR DEFINITION OF TERMS AND FORMULA ON FOLLOWING PAGE FOR THE METHOD OF CALCULATION. GRAPiI ASSUME:$ PARK SPACE RCNUT ADJUSTMU TS EQUAL TO C.P.I. F I tl A L Let: n the year, where n - 0 is the date of the "Notice of Appraised Value" per Section IV of. the Agreement. Vn - Agreed Value at year n,- where V0 is the "Appraised Value" per Section IT of the Agreement. Cn W: Change in the Consumer Price Index from the previous year, calculated as follows: (CPIn - CPIn_1)/CPIs-1 Exatrple: (1.4 - 1.35)/1.35 .. .0370 Rn F Change in the mobile home park space rent from the previous year, calculated as follows: (Rents - Rentn_1)/Rentn_1 Example: ($200 - $195)/$195 - .0256 S Salvage Value equal to 20% of the Appraised Value, i.e., S - 0.2 x VO Given the above, then: For. n - 1 throyab 13 • Vn " Vn-1 + (Vn-1 x Cn) + (Vr.-1 x (Cn - Rn) ] Example: $50,OD0 + ($50,000 x .037) + ($50,000 X (.037 - .0256)) $50,000 + $1,850 + $570 - $52,420 For n _- 14 through 25: Vn - ([(Vn-1 - S)/12] x (25 - n)) + S Example assuming year 15 with V14 - $75,000 and S - $10,00D: ([($75,000 - $10,000)/123 x (25 - 15)) + $10,000 (($65,000/123 x 10) + $10,000 $54,167 + $10*000 - $64,167 Exhibit D-2 DECLARATION OF VAChNCY AND RECEIPT OF BENEFITS undersigned owner s of the Mo i e ome in Space and Tenant(s) of Driftwood Beach Club Mobilehome Par ereby acknowledges) receipt of any and all relocation benefits to which 'he/she/they is/are entitled, and waive(s) all rights to receive further benefits under the Mobilehome Acquisition and Relocaton Agreement except eligibility to purchase or rent housing accomodations as specified in Section VIII thereof. The undersigned further warrant(s) and declare(s) that he/she/they has/have vacated the above listed space and hereby relinquish(es) any and all rights, title, interest and right to possess the above listed space. 0 EXHIBIT "E" ,h � _ �— tr,,, __, _ter. � , � ,'. ,M ' y . '. ; .r ... -, .�. I • _ • ��.i�ZAti::�Jlwi.CS•ri1�'7�.�w�'fc�ilf.. _�, '�„�r�i.�'ii1. '� . * �� � * •ram.,. .• _f•¢� � � ���-•� �r •Sat ,_'�• 1 1 J �,:e.+� •'4. � ail Hsi all :ILA , all + �,�,• 4*4 +#a,♦ jai • 1 rt 1^`�M �r •� ��� ' �Iti '� , �.. :I .JJ.r1 rJ •� �, vo +rPEDESTRIAN CDXF� F)- 1 ove �' r '.I J✓ J r r r J .J GBeST PARKING l i xti �J =CLUS eUE_/gECREA`iiONA1 AREA 719; .Sq. It. ClWbhouse�' I r e415x5a1I LEGEND • ��, .�5p.fl�.` ( •TRASH ENCLOSURE Office 1•...,.. +. r ..,�~'_.:a` LAUNDRY FACILITIES `.�\.`��. ']�A�,•' `-� *SECURITY GATE �.5'� •' f A ! 1 E-sTArES 1 �'gF�?'BLIf �� • aIp ..�` R WASH :'..J 4 oveQ ! �s�Ar�v�E•.� •,� i� v'r � 1I �. .• rI +NOTE• �-' 1',: • �'�� .. ,,, ,; r P I GNI C to Rl A '.� 30' TYPICAL. ROAD w f•*- p 4 F" 6J NC ER O D M''r ,1 4 • PEDESTRIAN CORRIDOR - Jti1 r...1Z�0 SO. FT. f D. V. .•-r;• 15' MINIMUM ..��:. ;t _ �A -*MINIMUM LOT SIZE 45'x 15' r . • ~ ' ' ' ' ' �r J1 • R.V./TRAILER PARKING TO BE �i = •' 1 "'+ `�•�. PROVIDED IN THE IMMEDIATE - 5U LY-MILLE`LAKE AREA. PARKING COMMUNITY PROGRAM FLCEXHIBIT •t F-*,Z, OCEAN VIEW ESTATES r: CITY OF HIINTINGTON BEACH P I N x L OCEAN VIEW ESTATES MOBILEH61E PARK AMEUTTIES * Clubhouse/recreational area including: - 2,750 sq. ft. clubhouse. to include large meeting room, Board meeting room 16' x 24', and fully equipped 10' x 20' kitchen, rest rooms - 45' x 50' swimming pool; spa; barbeque - Administration Offices facing entrance to park i * Picnic Area including: - 1250 square foot conference room - Barbeque * 15' minimum pedestrian corridor leading to all open space/ recreational area * 30' wide roads built to City standards * Provision of street landscaping for every tot to enhance neighborhood aesthetics. * Provision of guest parking at convenient locations. All-Mobilehome spaces shall be improved with driveways f rom :street to far end of coach, mi nimuin 65' x 121 ; Awnings will be provided full width of driveway. * Provision of entry monument. * 25' landscape buffer along major arterial streets to minimize noise impact; 20' outside (between right of way and wall) of Mobil.ehome Park and 5' inside of wall (added to minimum tot dimensions); All 25' to he Inncdscaped at Agency expense not included in cost of development of Mobilehome Park; exterior 20' maintained by Agency interior 5' to be maintained by individual residents. * Car Wash, covered area for (3) three cars * Laundry Robms with Washers and pryers * Security Gates * Access to adjoining Public Golf Course, Park and Take * RV parking 120 spaces) off site in immediate area * Agency and Association shall meet and confer regarding additional design detail for Ocean View Estates including but not limited to surrounding Public park, golf course and lake improvements. EXHIBIT F-3 N A _ •• ADDENDUM TO EXHI i IT F 1. Agency will develop the area surrounding the mobilehome park generally as shown on the Illustrative Plan Exhibit F-1 including but not limited to the following: a) Agency will relocate the shooting range: b) Agency will improve the public park area; c) Agency will construct a nine hole public golf course; ; and, i d) Agency will terrace, landscape and otherwise improve Sully -Miller Lake. 2. Agency will do what is necessary to deal with the methane gas problem that exists on the property so that no adverse effects will exist for Ocean View Estates residents or for users of the public park and/or golf course. 3. Agency will remove all existing buildings from the property and clean up the entire area including all concrete slabs (other than.mobilehomes and pads) prior to locating any mobilehome tenants north of the area marked "Ocean View Estates I" on Exhibit F-- 2 . 10 11 F I N A L NOTICE TO BUYER OF MOBILEHOME Ocean View Estates I and II are, as combined, a temporary Mobilehome Park designed to provide temporary housing assistance to displaced Tenants of mobilehome parks in Huntington Beach that have been torn down and redeveloped. Ocean View Estates I and II have been developed pursuant to a Mobilehome Park Relocation Assistance Plan approved by the City of Huntington Beach. Ocean View Estates I and II will cease to operate twenty-five (25) r years from the date Ocean View Estates II is first open for occupancy, at which time all Tenants at that location. will be • required to vacate. Tenancy in Ocean View Estates I and II exists pursuant to a Mobilehome Acquisition and Relocation Agreement containing certain obligations of the Tenants, their successors and assigns, and various relocation benefits. Rights to relocation benefits are limited to those specifically enunciated in the Agreement. All terms, conditions and obligations under the Agreement must be acknowledged and accepted before approval as a Tenant of Ocean View Estates I or II is obtained. Date Date Selling Tenant Receipt acknowledged and the terms Accepted. EXHIBIT "G" Buying Tenant 0 OCEEN VIEW ESTATES I XKD II MASTER LEASE (to be supplied at a later date) iEXHIBIT "ii" MASTER LEASE AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY OF HUNTINGTON BEACH AND DRIFTWOOD BEACH CLUB MOBILE HOMEOWNERS ASSOCIATION FOR OCEAN VIEW ESTATES This Lease, dated for reference purposes only, A"ttrst 1988, is made by and between the Redevelopment Agency of the City of Huntington Beach (herein called "LESSOR" or "AGENCY") and Driftwood Beach Club Mobile Homeowners Association, Inc., a California Non -Profit Corporation (herein called "LESSEE" or "ASSOCIATION"). RECITALS A. The City of Huntington Beach is the owner of certain real property located at the corner of Beach Boulevard and Pacific Coast Highway in the City of Huntington Beach . Said real property is leased to RLM Properties, Ltd., a California Limited Partnership (herein called "RLM"). RLM owns and operates a mobile horse park on a portion of said real property known as Driftwood Beach Club Mobile Home Park (herein called "DBC"). B. RLM desires to redevelop said real property with said redevelopment requiring the relocation of the mobilehome tenants at DBC. C. AGENCY, ASSOCIATION and RLM have entered into a Mobilehome Acquisition and Relocation Agreement (herein called the "RAP") which, among other things, requires the AGENCY, as a condition precedent to the commencement of the second phase of the above -referenced redevelopment, to develop, construct, build and improve that real property located northeast of the intersection of Goldenwest Boulevard and Ellis Avenue in the City of Huntington Beach, California. This development, if constructed, will contain a mobilehome park, golf course, lake, shooting range and public park areas, and is depicted on the Site Plan marked Exhibit "A" hereto and incorporated herein. This entire area shall be referenced herein as the "Site." D. The mobilehome park within Exhibit A shall contain 165 mobilehome spaces, or less, a number that shall be agreed upon by the ASSOCIATION or its assignee, and the AGENCY. E. For purposes of this Master Lease Agreement, the mobilehome park as shown on Exhibit "A" shall be known as Ocean View Estates (herein called "OVE" or the "Premises."). �! F. The LESSEE desires to hire that certain real property known as OVE to which the AGENCY has the right to possession, or has agreed to acquire, and the AGENCY desires to let such real property to LESSEE. _ ETA THEREFORE, in consideration of the covenants and promises herein contained, the parties do hereby agree as follows: SECTION 1. CONDITIONS -PRECEDENT TO THE LEASE. 1.1 Alterations and Improvements. LESSOR shall make alterations and improvements to the Site in substantial conformity with the Site Plan. These alterations and improvements shall be hereinafter referred to as the "Improvement Plans," specific provisions of which shall be approved by the LESSOR and LESSEE. 1.2 New Corporate Assignee. The AGENCY has required, and the ASSOCIATION has agreed, that all benefits and obligations of the ASSOCIATION existing by virtue of this Lease Agreement are to be assigned, transferred and conveyed by the Driftwood - Beach Club Mobile Homeowners Association, Inc. to a California nonprofit mutual benefit corporation which will be formed specifically and solely for the purpose of accepting assignment of said lease rights from LESSEE. The parties hereto agree that assumption of these Lease obligations and acceptance of its benefits by the new corporation shall forever release the ASSOCIATION from these Lease obligations. The new corporate assignee shall limit its shareholders or membership to subtenants of OVE. 2.1 Premises. LESSOR hereby leases to LESSEE, and LESSEE leases from LESSOR for the term, at the rental, and upon all of the conditions set forth herein, real property situated in the County of Orange, State of California, heretofore described as OVE, including rights to the Common Areas as hereinafter specified (collectively the "Premises"). 2.2 General Premises Description. The Premises which will be subject to this Lease Agreement is further described as follows: (a) The mobilehome spaces which are presently in existence at OVE, and any and all spaces which are to be constructed at OVE pursuant to the RAP, and (b) The pool, clubhouse and any and all structures to be constructed and maintained for the benefit of the subtenants of OVE, and 9/7/88 1106n/2460/12 -2- �1 (c) Any and all roads, driveways, loading and unloading areas, trash areas, sidewalks, walkways, within park landscaped areas and parking areas which are necessary for the ingress or egress to OVE, which primarily serve the tenants of OVE, and (d) The Common Areas within the Premises ("Common Areas") which exclusively serve or are exclusively used by subtenants at OVE. 2.3 Common Areas - Lessee's Rights. LESSOR hereby grants the LESSEE, for the benefit of LESSEE and its sublessees, employees, suppliers, shippers, customers and invitees, during the term of this Lease, the exclusive right to use the Common Areas as they exist from time to time, subject to any rights, powers and privileges reserved by LESSOR under the terms hereof. 2.4 Common Areas - Rules and Regulations. LESSEE, or such other person(s) as LESSEE may appoint, shall have the exclusive control, management and maintenance of the Common Areas, and shall have the right, from time to time, to establish, modify, amend and enforce reasonable rules and regulations with respect thereto. LESSEE agrees to abide by and conform to all laws and ordinances relating to the use of the Common Areas and to cause its sublessees, employees, suppliers, shippers, customers and invitees to so abide and conform. 2.5 Common Areas -- Changes. LESSOR shall have the right, with LESSEE's reasonable approval, from time to time, to: (a) Make changes to the Common Areas, and (b) Close temporarily any of the Common Areas for maintenance purposes of sewage or utilities as long as reasonable access to OVE remains available to subtenants, and (c) Use the Common Areas while engaged in making additional improvements, repairs or alterations to OVE or any portion thereof. 2.6 Vehicle Parking. LESSEE shall be entitled to parking spaces, reserved and unreserved, on those portions of the Common Areas designated by LESSOR for parking. LESSOR shall at all times provide the parking facilities required by applicable law, and in no event shall the number of parking spaces that Lessee is entitled to be reduced. SECTION 3. TERM -OF LEASE.- 3.1 Commencement and Duration. The term of this Lease shall be for a period of twenty-five (25) years commencing on 9/7/88 1106n/2 460/1: -3- the date that the last mobilehome space to be constructed at OVE is available for occupancy. LESSOR shall notify LESSEE of the date that the last mobilehome space to be constructed at OVE is available for occupancy; said date shall be deemed to be the commencement date of the twenty-five (25) year lease term. 3.2 Agreed Termination. It is understood that as specifically set forth in Article IX of the RAP, OVE shall be a mobilehome park constructed solely for the purpose of providing temporary mobilehome housing for certain parties displaced by the redevelopment of DBC and the adjoining areas. The LESSOR, as the provider of the property upon which OVE will be constructed, transfers no rights to occupy said property beyond that twenty-five (25) year period. LESSEE shall provide written notice to every subtenant that occupies a mobilehome space in OVE of the fact that this master lease will only last for twenty-five (25) years and shall specify the commencement and termination dates of this master lease in such notice. SECTION 4. RENT. 4.1 Base Rent. Commencing one hundred fifty (150) days after the date that the last space to be constructed is available for occupancy, LESSEE shall pay to LESSOR, as "Base Rent" for OVE, without any offset or deduction, except as may be otherwise expressly provided in this Lease, ten percent (10%) per year return on the LESSOR's original construction cost for the existing mobilehome park at OVE plus construction costs to complete and expand the existing mobilehome park at OVE to its ultimate design. The total cost shall include the design and construction of new mobilehome spaces, pools, buildings, club house, common areas, infra structures and roads. For purposes hereof, the cost of construction shall not exceed a figure equal to the total number of mobilehome spaces constructed times Twenty -Five Thousand Dollars ($25,000). The Base Rent shall be paid by the twentieth (20th) day of each month in a sum equal to the annual rent divided by twelve (12). 4.2 Rent Adjustments. The Base Rent described in Section 4.1 of this Lease shall be increased (and in no event decreased) on each anniversary of the commencement date of this Lease to reflect the increase in the cost of living. The cost of living adjustment to the monthly base rent shall be calculated on each anniversary of the commencement date (the "Adjustment Date") in the manner and pursuant to the following formula: A R - W x P 9/7/88 1106n/2460/12 -4- kh..� �.W) In such formula "R" represents the monthly base rent to be paid during succeeding twelve (12) month period for which monthly base rent is being computed under such formula; "W" represents the monthly base rent paid by LESSEE during the - initial twelve (12) months following the commencement date; "A" represents the Consumer Price Index (the "CPI") for all Urban Consumers, all item, most recently published and released two months prior to the Adjustment Date then being computed for the Los Angeles -Long Beach -Anaheim Metropolitan Area as reported by the United States Department of Labor, Bureau of Labor Statistics based upon the establishment of one hundred as the index for the year 1982-84; "P" represents the CPI released two months prior to the commencement date of the Lease. If the CPI which is used or published for any relevant time as provided in this Lease is based upon the establishment of 100 as the price index for a year or group of years other than 1982-84, the CPI to be substituted for "A" in the above formula shall be computed by converting the index as then issued or published to the basis of 100 as the price index for 1982-84. In the event that no such index is issued or published for the period for which such rent is being adjusted and computed hereunder or that said Bureau should cease to publish said index figure, then any similar index published by any other branch or department of the United State Government shall be used and if none is so published, then another index generally recognized as authoritive shall be substituted by agreement. In any event, the base used by any index shall be reconciled to the 1982-84 index. Notwithstanding anything to the contrary above stated, in no event shall the monthly base rent be increased on any Adjustment Date by less than three percent (3%) or more than six percent (6%) over the monthly base rent payable immediately prior to such Adjustment Date. 4.3 Pro Rata Rent. Rent for any period during the term hereof which is less than one month shall be a pro rata portion of the Base Rent. 4.4 Rental Payment. Rent shall be payable to LESSOR at the address stated herein, or to such other persons or at such other places as LESSOR may designate in writing. 4.5 Rent Credits. At the time of execution of this Lease Agreement LESSOR had previously assumed various individual rental agreement obligations with existing occupants (hereinafter "Special Tenants") at OVE. The LESSOR intends to honor those obligations or modify same during the term of this Lease. Accordingly, the LESSEE will determine rental rates for these Special Tenant spaces in the same manner it does for all other spaces and deduct from the monthly rent LESSEE pays to 9/7/88 1106n/2460/12 -5- IN LESSOR the monthly charges for these Special Tenants. Any financial obligations the Special Tenant may owe for occupying the Premises shall be paid to LESSOR. 4.6 Net Lease. It is the intent of the parties hereto that the rent provided herein shall be absolutely net to LESSOR and that LESSEE shall pay all costs, charges and expenses of every kind and nature against the Premises which may arise or become due during the term hereof and which, except for execution and delivery hereof, would or could have been payable by LESSOR. Such costs, charges and expenses shall include but shall not be linited to "real property tax" (as defined in Section 8 below) and the following: (1) Repair and maintenance of the Common Areas, including parking areas, loading and unloading areas, trash areas, roadways, sidewalks, walkways, parkways, driveways, landscaped areas, striping, bumpers, irrigation systems, Common Area lighting facilities and fences and gates which are within the OVE premises; (2) Trash disposal services; (3) Subtenant directories; (4) Fire detection systems including sprinkler system maintenance and repair; and (5) Security services, if provided. (6) The cost of all water, gas, heat, light, power, telephone and other utilities and services provided to the Premises, together with any taxes thereon. (7) The cost, if any, to administrate the operation of OVE. 4.7 Existing OVE Tenants. Lessor and Lessee hereby recognize and acknowledge that twelve mobile homes currently exist on the Premises, each of which are subject to a RENTAL .AGREEMENT BETWEEN THE CITY OF HUNTINGTON BEACH AND LESSEE FOR SPACE IN HUNTINGTON BEACH MOBILEHO:E PARK ("Rental Agreement"), a copy of which has been provided to the Lessee. The term of each such Rental Agreement is a life estate. It is hereby agreed that the Lessor will assune the rights and obligations of the City of Huntington Beach under the Rental Agreements and, thereafter, seek to renegotiate the Rental Agreements so as to require that each such tenant enter into a sublease with the Association consistent with all the subleases including without limitation rental and terms. In the event that any tenant refuses to enter into a sublease with the Association, the Agency shall then become a member of the Association and 9/7/88 1106n/2460/12 -6- shall be the subtenant of the Association with respect to any such mobilehomes. If one or more of such tenants refuse to enter into a sublease with the Association then the Association hereby agrees that its rules and regulations as to those tenants will not be inconsistent with the Rental Agreement. SECTION 5. M. 5.1 Use. The Premises at OVE shall be used and occupied only as a mobilehome park. No other use shall be made of the Premises without the express written consent of LESSOR, which consent may be granted or withheld in LESSOR's sole and absolute discretion. 5.2 Compliance With Law. (a) LESSOR warrants to LESSEE that as of the date that the Lease term commences neither the Premises nor the use thereof as provided for in Section 5.1 above violates any covenant or restriction of record, or any applicable building code, zoning or other regulation or ordinance in effect on such Lease term commencement date. In the event it is determined that this warranty has been violated, then it shall be the obligation of the LESSOR, after written notice from LESSEE and at LESSOR's sole cost and expense, to rectify any such violation within a reasonable time. (b) Subject to paragraph (a) above, LESSEE shall, at LESSEE's expense, promptly comply with all applicable statutes, ordinances, rules, regulations, orders, covenants and restrictions of record, and requirements of any fire insurance underwriters or rating bureaus, now in effect or which may hereafter come into effect, whether or not they reflect a change in policy from that now existing, during the term or any part of the term hereof, relating in any manner to the Premises and the occupation and use by LESSEE of the Premises and of the Common Areas. LESSEE shall not use nor permit the use of the Premises or the Common Areas in any manner that will tend to create waste or a nuisance. 5.3 Condition of Premises. (a) LESSOR shall deliver the Premises to LESSEE clean and free of debris and with the improvements specified in Section 1.1 completed on the Lease commencement date, and LESSOR warrants to LESSEE that the construction of the mobilehome spaces, the streets, sewage, utilities, fencing and the building structure, roofing, plumbing, electrical, lighting, air conditioning (if any) and heating at OVE shall be in good operating condition on the Lease commencement date. In the event that it is determined that this warranty has been violated, then it shall be the obligation of LESSOR, after 9/7/88 1106n/2460/12 -7- k..O; receipt of written notice from LESSEE setting forth, with specificity, the nature of the violation, to promptly, at LESSOR's sole cost, rectify such violation. (b) Except as otherwise provided in this Lease, LESSEE hereby accepts the Premises in their condition existing as of the Lease commencement date, or the date that LESSEE takes possession of the Premises, whichever is earlier, subject to all applicable municipal, county and state laws, zoning ordinances and regulations governing and regulating the use of this real property, as a mobileho_e park, and accepts this Lease subject to any restrictions on that use as they may be disclosed herein on any exhibits attached hereto. SECTION 6. MAINTENANCE, REPAIRS, ALTERATIONS AND COMMON AREA -SERVICES. 6.1 LESSEE's Obligations. Subject to the provisions of paragraphs 5 (Use) and 6.2 (LESSEE's Obligations), and except for damage caused by any negligent or intentional act or omission of LESSOR, LESSOR's employees, suppliers, shippers, customers or invitees, in which event LESSOR shall repair the damage, LESSEE, at LESSEE's expense, shall keep in good condition, and repair, reasonable wear and tear excepted, the foundations, exterior walls, structural condition of interior bearing walls and roof of any building on the Premises, as well as the mobilehome spaces, parking lots, walkways, driveways, landscaping, fences, signs and utility installations of the Common Areas, and all other improvements on the Premises. LESSEE shall be obligated to paint the exterior and interior surface of walls, and shall be required to maintain, repair or replace windows, doors and/or plate glass of structures on the Premises. In the case of latent defects, LESSEE shall have no obligation to make the repairs, and shall give to LESSOR a reasonable time to correct same after receipt of written notice from LESSEE of the need for such repairs. LESSEE expressly waives the benefits of any statute now or hereafter in effect which would otherwise afford LESSEE the right to make repairs at LESSOR's expense or to terminate this Lease because of any alleged LESSOR's failure to keep the Premises in good order, .condition and repair. 6.2 LESSEE's Further Obligations. (a) In addition to the provisions of paragraphs 5 (Use) and 6.1 (LESSEE's Obligations), LESSEE at LESSEE's expense, shall also keep in reasonably good order, condition and repair the Premises and every part thereof including, without limiting the generality of the foregoing, the Common Areas , all plumbing, heating, ventilating and air conditioning systems, electrical and lighting facilities and equipment within the Premises, fixtures, exterior and interior walls, 9/7/88 1106n/2460/12 -8- ceilings, windows, doors, plate glass, and skylights located within the Premises. (b) If LESSEE fails to perform LESSEE's obligations under this paragraph 6.2 or under any other paragraph of this Lease, LESSOR may enter upon the Premises after ten (10) days prior written notice to LESSEE (except in the case of emergency, in which no notice shall be required), perform such obligations on LESSEE's behalf and put the Premises in good order, condition and repair, and the cost thereof, together with interest thereon at the maximum rate then allowable by law, shall be due and payable as additional rent to LESSOR together with LESSEE's next Base Rent installment. (c) On the last day of the term hereof, or on any sooner termination, LESSEE shall Surrender the Premises to LESSOR in the same condition as received, ordinary wear and tear excepted, clean and free of debris. Any damage or deterioration of the Premises shall not be deemed ordinary by the installation or removal of LESSEE's trade fixtures, alterations, furnishings and equipment. Notwithstanding anything to the contrary otherwise stated in this Lease, LESSEE shall leave any air lines, power panel, electrical distribution systems, lighting fixtures, space heaters, air conditioning, plumbing and fencing on the Premises in operating condition. 7.1 Liability Insurance LESSEE. LESSEE shall, at LESSEE's expense, obtain and keep in force during the term of this Lease a policy of Combined Single Limit Bodily Injury and Property Damage Insurance insuring LESSEE and LESSOR against any liability arising out of the use, occupancy or maintenance of the Premises. Such insurance shall be in an amount not less than Five Hundred Thousand Dollars ($500,000) per occurrence. The policy shall insure performance by LESSEE of the indemnity provisions of this paragraph 7.1. 7.2 Liability Insurance LESSEE. LESSEE shall obtain and keep in force during the term of this Lease a policy of General .Liability insurance consistent with City of Huntington Beach Resolution No. 5835 insuring against any liability arising out of the ownership, use, occupancy or maintenance of the Premises. 7.3 Property Insurance. LESSEE shall obtain and keep in force during the term of this Lease a policy or policies of insurance covering loss or damage to the Premises, including LESSEE's personal property, fixtures, equipment or tenant improvement, in an amount equal to the full replacement cost thereof, as the same may exist from time to time, providing protection against all perils included within the classification of fire, extended cover age, vandalism, 9/7/88 1106n/2460/12 -9- malicious mischief, flood (in the event same is required by a lender having a lien on the Premises), special extended perils ("all risk," as such term is used in the insurance industry), plate glass insurance and such other insurance as LESSOR reasonably deems advisable. 7.4 Deposit of Insurance Policy. LESSEE shall within thirty (30) days after commencement of this Lease term, and promptly thereafter when any such policy is replaced, rewritten, or renewed, deliver to LESSOR a true and correct copy of each insurance policy required by this Section 7, or a certificate for said insurance executed by the insurance company or companies or their authorized agent including such policy or policies. 7.5. Notice of Modification or Cancellation. Each insurance policy required by this Section shall contain a provision that it cannot be modified or cancelled for any reason unless thirty (30) days prior written notice thereof is given to LESSOR in the manner required by this Lease for service of notices on LESSOR by LESSEE. 7.6 Indemnity. LESSEE shall indemnify and hold harmless LESSOR from and against any and all claims arising from LESSEE's use of the Premises, or from the conduct of LESSEE's business or from any activity, work or things done, permitted or suffered by LESSEE in or about the Premises or elsewhere, and shall further indemnify and hold harmless LESSOR from and against any and all claims arising from any breach or default in the performance of any obligation on LESSEE's part to be performed under the terms of this Lease, or arising from any act or omission of LESSEE, or any of LESSEE's agents, contractors or employees, and from and against all costs, attorney's fees, expenses and liabilities incurred in the defense of any such claim or any action or proceeding brought thereon; and in case any action or proceeding be brought against LESSOR by reason of any such claim, LESSEE, upon notice from LE$SOR, shall defend the sage at LESSEE's expense by counsel reasonably satisfactory to LESSOR and LESSOR shall cooperate with LESSEE in such defense. LESSEE, as a material .part of the consideration to LESSOR, hereby assumes all risk of damage to property of LESSEE or injury to persons, in, upon or about the Premises arising from any cause, and LESSEE hereby waives all claims in respect thereof against LESSOR. • 32 "i 10J3*1021& V4 W�i:�.' � 8.1 Payment of Property Tax. LESSEE shall pay or cause to be paid prior to delinquency all real property tax applicable to the Premises and not merely on the assessed value of its leasehold interest during the term of this Lease. 9/7/88 1106n/2460/12 -10- 8.2 Definition of "Real Property Tax." As used herein, the term "real property tax" shall include any form of real estate tax or assessment, general, special, ordinary or extraordinary, and any license fee, commercial rental tax, improvement bonds or bonds, levy or tax (other than inheritance, personal income or estate taxes) imposed on the Premises by any authority having the direct or indirect power to tax, including any city, county, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district thereof, as against any legal or equitable interest of LESSOR in the Premises or in any portion thereof, as against LESSOR's right to rent or other income therefrom, and as against LESSOR's business of leasing the Premises. The term "real property tax" shall also include any tax, fee, levy, assessment or charge (i) in substitution of, partially or totally, any tax, fee, levy, assessment or charge hereinabove included within the definition of "real property tax," or (ii) the nature of which was herein before included within the definition of "real property tax," or (iii) which is imposed by reason of this transaction, any modifications or changes hereto, or any transfers hereof. SECTION 9. ASSIGNMENT AND SUBLETTING. 9.1 LESSEE's Right to Sublet. LESSEE shall have the right to sublet the individual mobilehome spaces without LESSOR's consent so long as such subleases comply with Section 14 hereof and the rent charged by LESSEE pursuant to such subleases is reasonably related to LESSEE's cost of operating the Premises, including, a pro rata share of (i) the Lease Payments hereunder, (ii) improvements, maintenance and operation (iii) reasonable reserves, and (iv) reasonable compensation to association officers, directors and employees and any management company; however, LESSEE shall not have the right to assign, transfer, mortgage or otherwise transfer or encumber all or any part of LESSEE's interest in the Lease or in the Premises in any other manner. 9.2 Except as specified in paragraph 1.2, no assignment shall release LESSEE of LESSEE's obligations hereunder or alter the primary liability of LESSEE to pay the Base Rent and to perform all other obligations to be performed by LESSEE hereunder. SECTION 10. DEFAULT; REMEDIES. 10.1 Default. The occurrence of any one or more of the following events shall constitute a material default of this Lease by LESSEE: (a) After one hundred and eighty (180) days from commencement of this Lease Term the failure by LESSEE to make 9/7/88 1106n/2460/12 -11- any payment of rent or any other payment required to be made by LESSEE hereunder, as and when due, where such failure shall continue for a period of fifteen (15) days after written notice thereof from LESSOR to LESSEE. (b) Except as otherwise provided in this Lease, the failure by LESSEE to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by LESSEE where such failure shall continue for a period of thirty (30) days after written notice thereof from LESSOR to LESSEE; provided, however, that if the nature of LESSEE'S noncompliance is such that more than thirty (30) days are reasonably required for its cure, then LESSEE shall not be deemed to be in default if LESSEE commenced such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (c) The abandonment by LESSEE of the Premises or a substantial portion thereof; (d) The issuance of any writ, attachment order or levy against LESSEE which is not cured within sixty (60) days, whereby the Premises or any portion thereof shall be taken or occupied or attempted to be taken or occupied by someone other than LESSEE; (e) The filing, at any time after the date of the execution and prior to the expiration of this Lease, against LESSEE in any court pursuant to any statute, either of the United States or of the state, of a petition in bankruptcy or insolvency, or for reorganization, or for the appointment of a receiver or trustee of the Premises, which petition is not dismissed or discharged within sixty (60) days after the filing thereof; or (f) The filing by LESSEE of a voluntary petition in bankruptcy or insolvency, or for reorganization, or for the appointment of a receiver or trustee for the Premises, or the making of an assignment for the benefit of creditors or for the relief of debtors. 10.2 Remedies. Upon the occurrence of any one or more of the events of default specified in Section 11.1 above, LESSOR shall have the right at any time thereafter to cancel and terminate this Lease and reenter and take possession of the Premises, or any part thereof in the name of the whole, and repossess the same, and expel (forcibly, if necessary) LESSEE and those claiming through or under LESSEE, without prejudice to any remedies which LESSOR might otherwise have for arrears of rent or for a prior breach of the provisions of this Lease. Upon any such entry by LESSOR, this Lease shall terminate. Upon such termination, LESSOR shall be entitled to recover from 9/7/88 1106n/2460/12 -12- LESSEE such sums as are provided under California Civil Code Section 1951.2 (or any similar applicable statute or rule of law), the provisions of which are hereby incorporated herein and made a part hereof as if herein set forth verbatim. Additionally, upon any such termination, LESSOR shall be entitled to recover from LESSEE all costs incurred in collecting amounts due from LESSEE under this Lease (including attorneys' fees, cost of litigation and the like), including all reasonable cost incurred by Landlord in attempting to relet the Premises including advertisements and brokerage commission. Should LESSOR fail to make the election to terminate the Lease provided for in the preceding paragraph, this Lease shall continue in full force and effect. During the period LESSEE is in default, LESSOR may enter the Premises and relet them, or any part of the:, to third parties for LESSEE's account. LESSEE shall be liable immediately to LESSOR for all costs LESSOR incurs in reletting the Premises, including, without limitation, brokers' commissions, expenses of remodeling the Premises required by the reletting, and like costs. Reletting can be for a period shorter or longer than the remainder of the term hereof. Tenant shall pay to LESSOR the rent due under this Lease on the dates the rent is due, less the rent Landlord receives from any reletting. No act by LESSOR allowed by this paragraph shall terminate this Lease unless LESSOR notifies LESSEE that LESSOR elects to terminate this Lease. After LESSEE's default and for as long as LESSOR DOES NOT TERMINATE LESSEE's right to possession of the Premises, if LESSEE obtains LESSOR's consent, LESSEE shall have the right to assign or sublet its interest in this Lease, but LESSEE shall not be released from liability. 10.3 Default by LESSOR. LESSOR shall not be in default unless LESSOR fails to perform obligations required of the LESSOR within a reasonable time, but in no event later than thirty (30) days after written notice by LESSEE to LESSOR, specifying wherein LESSOR has failed to perform such obligation; provided, however, that if the nature of LESSOR's obligation is such that more than thirty (30) days are required for performance then LESSOR shall not be in default if LESSOR commences performance within such thirty (30) day period and thereafter diligently prosecutes the same to completion. 10.4 Remedies for LESSEE. In the event of a default by LESSOR, LESSEE may abate its rent due to recover any damages suffered as a result of the default. SECTION 11. CONDEMNATION. If the Premises or any porticn thereof are taken under the power of eminent domain by the State of California or the 9/7/88 1106n/2460/12 -13- United States of America, or sold under the threat of the exercise of said power (all of which are herein called "condemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title -or possession, whichever first occurs. If more than ten percent (10%) of the area of the Premises, or more than twenty-five percent (25%) of that portion of the Common Areas designated as parking for the Premises, is taken by such.condemnation, LESSEE may at LESSEE's option, to be exercised in writing only within twenty (20) days after LESSOR shall have given LESSEE written notice of such taking (or in the absence of'such notice, within twenty (20) days after the condemning authority shall have taken possession), terminate this Lease as of the date the condemning authority takes such possession. If LESSEE does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the rent shall be reduced in the proportion that the area of the Premises taken bears to the total area of the Premises. No reduction of rent shall occur if the only area taken is that which does not have the Premises located thereon. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of the parties as their interest exists at the time of the condemnation. In the event that this Lease is not terminated by reason of such condemnation, LESSOR shall to the extent of severance damages received by LESSOR in connection with such condemnation repair any damage to the Premises caused by such condemnation except to the extent that LESSEE has been reimbursed thereof by the condemning authority. LESSEE shall pay any amount in excess of such severance damages paid to LESSOR required to complete such repair to the extent of severance damages received by LESSEE. SECTION 12. OWNERSHIP OF IMPROVEMENTS AT TERMINATION. Any and all buildings and improvements placed or erected on said Premises before or during the term of this Lease, except the mobilehomes and the appurtenances thereto, shall be considered part of the real property of the Premises and on expiration or sooner termination of this Lease shall remain on the Premises and become the property of LESSOR. SECTION 13. 'MANAGEMNT AND. 13.1 Rights to Sublease and Management. LESSEE shall operate and manage OVE as a mobilehome park, and as such shall have the right, subject to the terms and provisions of the RAP, to: 9/7/8S 1106n/2460/12 -14- (a) sublease spaces to tenants; and, (b) approve or disapprove prospective tenants; and, (c) approve or disapprove subsequent purchases of mobilehomes within OVE; and (c) set rental rates for its subtenants; and, (e) charge its tenants a pro rata share of the Common Area maintenance. charges; and, (f) collect rents, cocm:on area maintenance and utility charges from its tenants; and, (g) otherwise manage the Premises and charge the tenants. Notwithstanding anything herein to the contrary, the Association shall not have the right to approve or disapprove the initial tenants being relocated from Driftwood and Pacific Trailer Park pursuant to the RAP. 13.2 Notice of Space Availability. LESSEE shall notify LESSOR of any vacant space at OVE and shall consider any sublease applicants referred by the LESSOR in the same manner as it would any other sublease applicants. 13.3 Compliance with Laws. The LESSEE shall comply with all State, Federal and Local laws in the management and operation of OVE, including but not limited to, the Mobilehome Residency Law (Civil Code Section 798 et. seq.) and all laws prohibiting discrimination. 13.4 Sublease Rules and Regulations. LESSEE shall require all tenants, their successors and assignors to execute and agree to a sublease which contains provisions which requires the tenants to: (a) maintain the spaces in a clean, attractive, and Yell kept condition; and, (b) comply with all State, Federal and Local laws; and, (c) refrain from interfering with the quiet enjoyment by other tenants of their mobilehome. 13.5 Lease Acknowledgements. Each sublease shall contain provisions whereby each tenant agrees: 9/7/88 1106n/2460/12 -15- (a) that he/she has no right to possess or own the property upon.which OVE shall be located except as a tenant of a mobilehome park and that said right shall cease automatically twenty-five (25) years after the Lease commencement date. (b) that he/she has no expectation as to the "in -place value" or "in -park value" of mobilehomes which are to be located at OVE other than the Agreed Value as established by the provisions of the RAP. (c) that the sublease shall act as and shall be considered as the eighteen (18) month and six (6) month Notice of Change of Use of OVE as required by State, Federal and Local law, which is to take place twenty-five (25) years after commencement of this Lease term. On the termination date, OVE will convert to use as a public park. (d) on behalf of themselves, their successors and assigns, to abide by and be subject to all of the terms and provisions of Article IX of the RAP, and to waive any right they might have to additional notices of the Change of Use of OVE at termination of this Lease. (e) that the construction and maintenance of OVE are part of a Relocation Assistance Plan and Relocation Agreement have been prepared and negotiated pursuant to a Conversion Impact Report on DBC and Article 927 of the Huntington Beach Municipal Code. Tenant agrees that the Conversion Impact Report, Relocation Assistance Plan and Relocation Agreement also apply to the conversion of OVE to public use which will take place twenty-five (25) years after commencement of this Lease term. Tenants, on behalf of themselves, their successors and assignors shall thereby waive any and all right, now and in the future, to demand or require additional Conversion Impact Reports and/or Relocation Assistance Plans as to OVE. (f) on behalf of themselves, their successors and assignors, to waive any and all right to object to the closure of OVE after the termination date and agree to vacate the space immediately upon receipt of a written sixty (60) day Notice of Termination of Tenancy. (g) in the event this Lease terminates, he/she shall continue to occupy the particular space for the balance of the term of the particular sublease, under the same terms and conditions of such sublease, and will attorn to'LESSOR, its successors and assigns, to the same extent and with the same force as if LESSOR were the sublessor under such sublease. 13.6 Sublease Enforcement. LESSEE shall, at its own expense, strictly enforce all terms and conditions of the sublease. Failure to so enforce the terms may be considered to be material breach of this Lease Agreement. 9/7/88 1106n/2460/12 -16- 13.7 Warning Regarding Future Relocation Benefits. All subleases shall contain the following language: • raltal • • •U52) a tell *3 166wo 90MMM• • The subleased Premises are within a redevelopment project area, however the Sublessee, if displaced at the end of the term would not be entitled to Relocation Benefits pursuant to Government Code Section 7262 et seq by virtue of the fact that the Premises have heretofore been or will be acquired and are being held by Sublessor expressly for redevelopment purposes. Sublessee hereby acknowledges that no benefits are available and expressly waives any claim to Relocation Benefits pursuant to Civil Code Section 3513. ) Initial SECTION 14. TERMINATION QF-LESSOR-5-TENANCY AS A SUBLESSEE. Upon termination of any tenancy between LESSOR and an existing occupant at OVE, the LESSORS status as a sublessee of that space shall also terminate and LESSOR shall cause the mobilehome located thereon to be removed and shall not enter into a new tenancy with a third party for the space. The LESSOR's obligation to LESSEE for payment of rent and other charges relating to said mobilehome space shall terminate thirty (30) days after the existing mobilehome has been removed. SECTION 15. BROKER'S FEE. All parties certify that no brokerage fee is due as a result of this Lease. SECTION 16. SEVERABILITY9 The invalidity of any provision of this Lease, as determined by a court of competent jurisdiction, shall in no way affect the validity of any other provision hereof. SECTION 17. INTEREST ON PAST -DUE MIGATIONS. Except as expressly herein provided, any amount due to LESSOR not paid when due shall bear interest at the maximum rate then allowable by law from the date due. Payment of such interest shall not excuse or cure any default by LESSEE under this Lease; provided, however, that interest shall not be payable on late charges incurred by LESSEE nor on any amounts upon which late charges are paid by LESSEE. 9/7/88 1106n/2460/12 -17- SECTION 18. TINE OF ESSENCE. Time is of the essence with respect to the obligations to be performed under this Lease. This Lease and the RAP contain all agreements of the parties with respect to any matter mentioned herein. Except for the provisions of the RAP, no prior or contemporaneous agreement or understanding pertaining to any such matter shall be effective. In the event the PAP and this Lease have inconsistent provisions pertaining to the same matter, the provisions of the RAP shall prevail. This Lease may be modified in writing only, signed by the parties in interest at the time of the modification. SECTION 20. NOTICES,. Any notice required or permitted to be given hereunder shall be in writing and may be given by personal delivery or by certified mail, and if given personally or by mail, shall be deemed sufficiently given addressed to LESSEE or to LESSOR at the address noted below the signature of the respective parties, as the case may be. Either party may by notice to the other, specify a different address for notice purposes. A copy of all notices required or permitted to be given to LESSOR hereunder shall be concurrently transmitted to such party or parties at such addresses as LESSOR may from time to time hereafter designate by notice to LESSEE. SECTION 21. RECORDING. Either LESSOR or LESSEE shall, upon request of the other execute, acknowledge and deliver to the other a "short form memorandum of this Lease for recording purposes. SECTION 22. HOLDING OVER. If LESSEE, with LESSOR's consent, remains in possession of the Premises or any part thereof after the expiration of the term hereof, such occupancy shall be a tenancy from month to month upon all the provisions of this Lease pertaining to the obligations of LESSEE. SECTION 23. C=ATIVE REMEDIES. No remedy or election hereunder shall be deemed exclusive but shall, wherever possible, be cumulative with all other remedies at law or in equity. 9/7/88 1106n/2460/12 -18- SECTION 24. W. Subject to any provisions hereof restricting assignment or subletting by LESSEE and subject to the provisions of Section 10, this Lease shall bind the parties, their personal representatives, successors and assigns. This Lease shall be governed by the laws of the State of California any any litigation concerning this Lease between the parties hereto shall be initiated in Orange County. • mil• ; � • ,��% � � : • � 25.1 Subordination. This Lease, at LESSOR's option, may be subordinate to any mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the Premises and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. 25.2 Attornment. LESSEE agrees to execute any documents required to effectuate an attornment, subordination or to make this Lease prior to the lien of any mortgage deed of trust or ground lease, as the case may be. LESSEE's failure to execute such documents within ten (10) days after written demand shall constitute a material default by LESSEE hereunder without further notice to LESSEE or, at LESSOR's option, LESSOR shall execute such. documents on behalf of LESSEE as LESSEE's attorney -in -fact. LESSEE does hereby make, constitute and irrevocably appoint LESSOR as LESSEE's attorney -in -fact and in LESSEE's name, place and stead, to execute such documents in accordance with this paragraph 25.2. SECTION 26. ATTORNEY'S FEES. If either party brings an action to enforce terms hereof or declare rights hereunder, the prevailing party in any such action, on trial or appeal, shall be entitled to his reasonable attorney's fees to be paid by the losing party as fixed by the court. SECTION 27. ELEL SSOR-S ACCESS. LESSOR and LESSOR's agents shall have the right to enter the Premises at reasonable times for the purpose of inspecting the same, showing the same to prospective purchasers, lenders, or lessees, and making such alterations, repairs, improvements or additions to the Premises as LESSOR may deem necessary or desirable. 9/7/88 1106n/2460/12 -19- SECTION 28. CONSENTS. Wherever in this Lease the consent of one party is required to an act of the other party, such consent shall not be - unreasonably withheld or delayed. SECTION 29. OUIET POSSESSI -. Upon LESSEE paying the rent for the Premises and observing and performing all of the covenants, conditions and provisions on LESSEE's part to be observed and performed hereunder, LESSEE shall have quiet possession of the Premises for the entire term hereof subject to all of the provisions of this Lease. The individuals executing this Lease on behalf of LESSOR and LESSEE represent and warrant to LESSOR and LESSEE that they are fully authorized and legally capable of executing this Lease on behalf of LESSOR and LESSEE. SECTION 30. EASEMENTS. LESSOR reserves to itself the right, from time to time, to grant such easements, rights and dedications that LESSOR deems necessary or desirable, and to cause the recordation of parcel maps and restrictions, so long as such easements, rights, dedications, maps and restrictions do not unreasonably interfere with the use of the Premises by LESSEE. LESSEE shall sign any of the aforementioned documents upon request of LESSOR and failure to do so shall constitute a material default of this Lease by LESSEE without the need for further notice to LESSEE. SECTION 31. AUTHORITY. Each individual executing this Lease.on behalf of such entity represents and warrants that he or she is duly authorized to execute and deliver this Lease on behalf of said entity. In the event that LESSEE or LESSEE'S successor or assign are unable to carry out any of its duties and obligations or enforce its rights under this master lease or any sublease LESSEE may have with subtenants who are subleasing mobilehome space in OVE, LESSOR shall have the right to appoint a receiver of LESSOR'S own choosing to take over and perform LESSEE'S duties and obligations and enforce LESSEE'S rights under this master lease or any sublease. Situations wherein LESSEE shall be considered as unwilling or unable to carry out its duties or obligations or enforce its rights include, but are not limited to, situations wherein it is determined that LESSEE is not a viable legal entity; LESSEE becomes insolvent; a bankruptcy 9/7/88 1106n/2960/12 -20- petition is filed by or against LESSEE; LESSEE makes a general assignment for the benefit of creditors; LESSEE fails or is unable to form a governing board with power to make binding decisions on behalf of LESSEE; the governing board of LESSEE becomes stalemated and unable or unwilling to make decisions on behalf of LESSEE. LESSOR shall give LESSEE thirty (30) days prior written notice of the fact that LESSOR deems LESSEE to be unwilling or unable to carry out its duties or obligations or enforce its rights as specified in this paragraph and that LESSOR intends to appoint a receiver to take over LESSEE'S position. LESSEE shall have thirty (30) days to take corrective action and provide evidence satisfactory to LESSOR that such correcctive action has taken place. In the event that LESSEE does not take corrective action or provide satisfactory evidence thereof to LESSOR within said thirty (30) days, LESSOR may appoint a receiver to take over LESSEE'S position in regard to this master lease or any sublease LESSEE may have with subtenants who are subleasing mobilehome spaces in OVE. Such receiver shall remain in place for as long as LESSEE is unwilling or unable to carry out its duties or obligations or enforce its rights as specified herein. LESSEE does hereby make, constitute and irrevocably appoint LESSOR as LESSEE'S attorney -in -fact and in LESSEE'S name, place and stead to appoint a receiver to take over LESSEE'S position in the event LESSEE is unwilling or unable to carry out its duties or obligations or enforce its rights as specified herein. e!�W� ooe� Attest Secretary APPROVED AS TO FORM: 4-" *Agency Counsel Specialgency nsel 9/7/88 1106n/2460/12 LESSEE President LESSOR REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH -21- J-�:�,.•, � ,! `mil/ �J':JJiJJ JJJ '•J J JrJ J �rw� '! J J� � +J J J PEDESTRIAN �J �.JJJ-1J JJJ JJ JJ J J r .0 �• �.% ;� GDE?,9T �PA�KING } • Te USEY.BE CREAYl-O'N-A� AREA 975; s4.t`. Cl4hbuse 415 }'J •Office J. �� P A R-WASH •� EW)ERGEN6Y; CCEtS �r r ,�� • « PICNIC R A �. — r C"A `lijk7h C E R O O hf;, r ��� r r J `■ V .� r r � „ + }�•}I • JJJ 1 J '� SU ,LY--MILLER-LAK PARKING COMMUNITY PROGRAM ULI� � , I—z� 7, P LL•r111111 [ OCEAN VIEW ESTATES MY OF HUNTINGTON BEACH �S3 �1 _jj 1 cogwR� %J�J• fi `J .l•�J J �J .. J J. JI J� .40 `J LEGEND ♦TRASH ENCLOSURE *LAUNDRY FACILITIES *SECURITY GATE NOTE: 30' TYPICAL. ROAD • PEDESTRIAN CORRIDOR - 15' MINIMUM *MINIMUM LOT SIZE 45X75' • R.V./TRAILER PARKING TO BE PROVIDED IN THE IMMEDIATE AREA. _ EXHIBIT fA rrl 4-7TACHR E-Ar' 3 K., vserMarstonAsso6atesInc. Richard L. Botti 500 South Grand Avenue, Suite 1480 Calvin E. Hollis, II Los Ange:es, California 90071 213/622-8095 Fax 2131622-�204 SAN DIEGO 619/942.0380 Heinz A. Schilling SAN FRANCISCO 4!5i398-3050 Timothy C. Kelly A. Jerry Keyser Kate Earle Funk Robert J. Wetmore Michael Conlon Denise E. Conley August 22, 1988 Mr. Douglas La Belle Deputy City Administrator City of Huntington Beach 2000 Main Street Huntington Beach, California 92648 Dear Mr. La Belle: RECEIN/T D AUG 2 3 1988 DE"ANDAEN1 ;,, _QflMMUNITY DEV9LOPMENT As a part of the Summary Report prepared for the Waterfront commercial/residential project pursuant to Section 33433 of the California Health and Safety Code, KMA determined the net costs to the Huntington Beach Redevelopment Agency associated with relocat- ing the Driftwood Mobilehome Park residents. This analysis con- sidered the costs to be incurred to develop a new mobilehome park, as well as the relocation benefits to be provided to the Driftwood residents. These costs were offset by the rental income to be gen- erated to the Agency from the new mobilehome park. VThe net costs were estimated at $7.7 million, in present value terms., The assumption used to estimate the rental income from the new mobilehome park was that the Agency would receive rents of $350 per space per month in the first year of operation, escalating at 6% per annum thereafter. The vacancy allowance was set at 3%, and the operating expenses were estimated at 35% of gross income. Subse- quently, the Agency agreed to fix the rents in the first year at $208 per space per month. These rents would then escalate at 6% annually. However, the spaces would be master leased to the mobilehome association on a triple net basis. Thus, the Agency will not incur operating expenses, nor will there be any loss of income to the Agency dale to vacant spaces. KMA prepared a revised cash flow analysis based on the alteration in the achievable rent level. This cash flow projection is presented_ in Table 1.--While the cost estimates remain the same, the renal income generated by the project is substantially decreased. However, given the fact that the Agency will incur no Real Estate Predeveloornent P: Evaluation Services Mr. Douglas La Belle August 22, 1988 Page 2 operating expenses or losses due to vacancies, the net income gen- erated is actually slightly higher than originally projected. Thus, the net costs are reduced to $7.6 million, a reduction of $100,000. According to the terms of the Waterfront project DDA, the developer must loan the Agency $4.5 million of these costs. This leaves $3.1 million to be funded from other redevelopment project area resources. Please do not hesitate to call if you require -additional informa- tion. Yours very truly, KEYSER MARSTON ASSOCIATES, INC. !�Y Kathleen H . Head KHH:lp 88346.HTB 14066.0006 Keyse: MarstonAssociatesInr. lAElt ! Ya1lIFRoA1 ComditIAL/RES)DENT] At rl011C1 MCI nuA11E trod h it ;l aAiloii COSTS ' ! In1N11HGi0H ICACH, CALLFORNIA TEAS 1 TEAS 2 TEAS 3 TEAR 6 TEAS 5 WEAR 6 TEAR 7 TEAR I TEAR 9 TEAS 10 TEAT 11 1989 1990 1991 1992 1993 1994 1995 1996 1997 1"1 1999 COSTS(1) '-' -- -- ------- ----�.-...._..-....-.�.�......_-------------------------------» ..--------- COST OF APP11134 11D0,000 NE1 IUT-OUT COSTS PHASE 1 6 1 01110NAL 13S,000 ADDITIONAL FOR Si0 5,000 PHASE 11 118D01000 t1,2"AO ADDITIONAL FOR SFI 201000 15,000 RELOCATIOW 10 OCEAN VIEW PHASE I I OPIIONAL 7S,D00 , CASH PAYMENT SS,000 PURCHASE NEW CDACHES 160,000 PHASE 11 511,ON CASH PATNEHT 380,DYO PURCHASE NEW COBS I,OOO,CDO RELOCATION 10 OWN MRi PHASE I I OfflONA! 25,000 , PHASE 11 200.000 RELOCATION WITHIN PARK PHASE tt 1I,000 i MDILLENOME REFURIISHINC 15,000 TENANI SURIESSEE COMPENSAINN PHASE 1 I OP1IDKA1 1,000 PRASE 11 SD,DOO ASSOCIL1I01 RENUISEM UT 200,000 OCEAW VIEW 1EYELDPMENT COSTS NOM EHOKE HEEYELOPKIN1 3,125,000 GOLF COURSE KVELOPMEIII 126,000 rill DEYELO►MEW1 I,707,OD0 TOTAL COSTS I611271000 t8,9/31000 t0 s0 t0 t0 t0 t0 t0 10 i .` INCOME OCEAN VIEW ESTATES RUT 1NCK PDIENTIAL (2) 147,400 t21710D0 1406,700 1131,100 145919DO 1486,300 1513,400 t516,2DO 076,800 16111500 26+8,100 (IESS) AEAIENENIS (3) 67,100 /7,100 • PLUS NE1 SALES PROCEEDS 141 7,396,ODO PE1 INCOME I 10 1169,600 1106,700 1431,103 1451,900 WOOD 1513,400 2514,200 IS16,600 18,D07,50D NET A6fMtl COS11 11,327,000 t1,1IS,100 (1106,700) (1431.1001 (1451,900) (1186,300) (013,400) (1514,200) (1576,100 (18.007,SD0) 17Y COSTS 1 It 17,570,000-