HomeMy WebLinkAboutAuthorize the sale of an Agency-owned housing unit - 18862 B YV ✓
Council/Agency Meeting Held: D
Deferred/Continued to:
,Appr ed ❑ Conditionally Approved ❑ Denied �City,Gl rk's S nature
Council Meeting Date: 4/6/2009 Department ID umber: ED 09-09
CITY OF HUNTINGTON BEACH
REQUEST FOR REDEVELOPMENT AGENCY ACTION
SUBMITTED TO: Honorable Chairman and Red yelopment Agency Members
SUBMITTED BY: Fred A. Wilson, Executive Di
PREPARED BY: Stanley Smalewitz, Deputy E cutive Director
SUBJECT: Authorize Sale of Agency-Owned Housing Unit
Statement of Issue,Funding Source,Recommended Action,Alternative Action(s),Analysis,Environmental Status,Attachment(s)
Statement of Issue: In March 2007, the Redevelopment Agency authorized the acquisition
of a housing unit that was being sold through a Trustee Sale. The Agency currently owns the
property located at 18862 Breezy Lane and seeks authorization to sell the housing unit to a
qualified buyer.
Fundinq Source: Not applicable.
Recommended Action: Motion'to:
1. Authorize the sale of Agency-owned housing unit to.a qualified buyer.
2. Authorize the Executive Director, or his designee, to prepare, execute and process all
necessary documents to facilitate the sale of Agency-owned housing located at 18862
Breezy Lane.
Alternative Action(s):
1. Direct staff to renegotiate sale of property.
ATTACHMENT # 1
' 4
Council/Agency Meeting Held:
Deferred/Continued to:
❑Approved ❑ Conditionally Approved ❑ Denied City Clerk's Signature
Council Meeting Date: 3/5/2007 Department ID Number: ED 07-07
CITY OF HUNTINGTON BEACH
REQUEST FOR REDEVELOPMENT AGENCY ACTION
SUBMITTED TO: Honorable Chairman and Redevelo ent Agency Members
SUBMITTED BY: Penelope Cu eth Graft, DP , Exe tive Director
i'
PREPARED BY: Stanley Smalewitz, Deputy Executive Direct
Jennifer McGrath, Redevelopment Agency
SUBJECT: Authorize Acquisition of Inclusionary Houso nit - Cape Ann
Statement of Issue,Funding Source,Recommended Action,Alternative Action(s),Analysis,Environmental Status,Attachment(s)
Statement of Issue: On February 20, 2007, Economic Development Housing staff received
a Notice of Trustee Sale (Attachment 1) for a unit located at 18862 Breezy Lane, within the
Cape Ann Inclusionary Housing Program. The Trustee Sale is scheduled for March 8, 2007,
at 2:00 PM at the County Courthouse located at 700 Civic Center Drive West, Santa Ana.
Council consideration is requested to reinstate the loan or to acquire the property to maintain
it within the City's Inclusionary moderate-income housing inventory.
Funding Source: Housing Set Aside Fund 30680301.81100
Recommended Action: Motion to:
1. Authorize the Executive Director, or her designee, to expend up to $41 3,475 in order to.
preserve and maintain 18862 Breezy Lane, within the community's supply of low- and
moderate-income housing, pursuant to Section 33334.2 of the Redevelopment Agency_
Resolution No. 174 (Attachment 2)_ Such expenditure may be made in order to buy
the unit at the foreclosure sale in an amount in excess of the mortgage lender's credit
bid, negotiating with the mortgage lender to take over the first trust deed, or reinstate
the loan and then agree to a work-out with the homeowner.
Alternative Action(s):
1. Do not authorize the acquisition of the affordable unit and advise the Trustee of said
action.
Z
f ) '
t
r Analysis: 18862 Breezy Lane is located within Cape Ann, a moderate-income
affordable project established pursuant to the Holly Seacliff Specific Plan. All units
in Cape Ann are subject to a set of CC & Rs ensuring that the units will be sold at
restricted prices to ensure that they are affordable to moderate income
households.
The mortgage lender of 18862 Breezy Lane gave notice to the Agency on
February 20, 2007, of a Notice of Trustee Sale for March 8, 2007. Although the
City will contend that the unit will remain subject to the CC & Rs even after a
foreclosure sale, the mortgage lender likely will contend that the City will lose the
ability to continue to enforce the CC & Rs following foreclosure.
The City's Housing staff is working in conjunction with the City Attorney's office to
determine the best means to resolve this matter to preserve the unit. The options
include buying the unit at the foreclosure sale in an amount in excess of the
mortgage lender's credit bid, negotiating with the mortgage lender to take over the
first trust deed, and reinstating the loan and then agreeing to a work-out with the
homeowner.
The original note was for $382,500, which would approximately be the amount of
the mortgage lender's credit bid. The reinstatement amount is $13,313. As of this
date, the maximum sales price for this home is calculated at $413,475
(Attachment 3).
Environmental Status: Not applicable.
Attachment(s):
R. o - Npmbor N% Descripfion
1. Notice of Trustee Sale
2. Resolution No. 174
3. Maximum Sales Price Calculation
E7 .2
ID
7187 7930 3131 0955 3178 FEB 2 0 2007
F-v "(1-11eRDM�opine ,
TS NO:06-25047
REDEVELOPMENT AGNY OF THE CITY OF HUNTINGTON BEACH
2000 MAIN STREET
HUNTINGTON BEACH,CA 92648
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Form insert(03101)
PLCORDING REQUESTED BY:
RECONTRUST COMPANY,N.A.
1757 TAPO CANYON ROAD,SVW-88
SIMI VALLEY, CA 93063
' WIIEN RECORDED MAIL TO:
1757 TAPO CANYON ROAD,SVW-88
SIMI VALLEY, CA 93063
Attn:
TS No. 06-25047
Doc ID#000483080102005N
Title Order No. 06-8-215434
Investor/insurer No. 048308010
APN No.:93387477
NOTICE OF TRUSTEE'S SALE
YOU ARE IN DEFAULT UNDER A DEED OF TRUST, DATED 01/15/2004.
UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE
SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE
NATURE OF THE PROCEEDING AGAINST YOU, YOU SHOULD CONTACT A
LAWYER.
Notice is hereby given that RECONTRUST COMPANY,N.A.,as duly appointed trustee pursuant to the Deed of Trust
executed by ROBERT SCOTT,A MARRIED MAN AS HIS SOLE&SEPARATE PROPERTY,dated 01/I5/2004 and
recorded 01/22/2004,as Instrument No. 2004000048906,in Book ,Page ,),of Official Records in
the office of the County Recorder of ORANGE County,State of California,will sell on 03/08/2007 at 02:00 PM,AT THE
NORTH FRONT ENTRANCE TO THE COUNTY COURTHOUSE,700 CIVIC CENTER DRIVE WEST,SANTA ANA,
CA
a
at public auction,to the highest bidder for cash or check as described below,payable in full at time of sale,all right,title,and
interest conveyed to and now held by it under said Deed of Trust,in the property situated in said County and State and as
more frilly described in the above referenced Deed of Trust_ The street address and other common designation,if any,of the
real property described above is purported to be: 18862 BREEZY LANE,I IU TINGTON BEACH, CA 92648. The
undersigned Trustee disclaims any Iiability for any incorrectness of the street address and other common designation,if any,
shown herein.
The total amount of the unpaid balance with interest thereon of the obligation secured by the property to be sold plus
reasonable estimated costs,expenses and advances at the time of the initial publication of the Notice of Sale is$412,409.90.
It is possible that at the time of sale the opening bid may be less than the total indebtedness due.
In addition to cash,the Trustee will accept cashiers checks drawn on a state or national bank,a check drawn by a state or
federal credit union,or a check drawn by a state or federal savings and loan association,savings association,or savings bank
specified in Section 5102 of the Financial Code and authorized to do business in this state_
Said sale will be made,in an"AS IS"condition,but without covenant or warranty,express or implied,regarding title,
possession or encumbrances,to satisfy the indebtedness secured by said Deed of Trust,advances thereunder,with interest as
provided,and the unpaid principal of the Note secured by said Deed of Trust with interest thereon as provided in said Note,
plus fees,charges and expenses of the Trustee and of the trusts created by said Deed of Trust.
DATED: February 11,2007
RECONTRUST COMPANY,N.A.
1757 TAPO CANYON ROAD,SVW-88
SIMI VALLEY, CA 93063
Phone:(800)281-8219, Sale Information(626)927A399
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By:/S/Title Officer
RECONTRUST COMPANY,N.A. is a debt collector attempting to collect a debt_ Any information obtained will be used for
that purpose.
Form mlgnos(07101)
RECORDING REQUESTED BY:
WHEN RECORDED MAIL TO: THIS DOCUMENT IS BEING SENT TO YOU
RECONTRUST COMPANY,N.A_ IN ACCORDANCE WITH CIVIL CODE
1757 TAPO CANYON ROAD,SVW-88 SECTION 2934.
SIMI VALLEY, CA 93063
Attn: Paresh Kavlekar
TS No. 06-25047
Title Order No. 06-8-215434
Investor/Insurer No. 048308010
SPACE ABOVE THIS LINE FOR RECORDERS USE
AFFIDAVIT OF MAILING
FOR SUBSTITUTION OF TRUSTEE BY CODE
TS#: 06-25047
Trustor: ROBERT SCOTT,A MARRIED MAN AS HIS SOLE&SEPARATE PROPERTY
I,Paresh Kavlekar,TRUSTEE SALE OFFICER,declare: That I am an officer, agent or employee of
RECONTRUST COMPANY, N.A.,whose business address is 1757 TAPO CANYON ROAD,
SVW-88, SIMI VALLEY,CA 93063.
I am over the age of eighteen years; On 02/15/2007,by Certified and First Class mail, enclosed in a
sealed envelope with postage fully prepaid, I deposited in the United States Mail, a copy of the attached
Substitution of Trustee to the trustee of record under the Deed of Trust described in said Substitution,
and;
A copy of the attached Substitution has been mailed prior to the recording thereof, in the manner
provided in Section 2924(b) of the Civil Code of the State of California to all persons to whom a copy
of the Notice of Default would be required to be mailed by the provisions of said section.
I certify(or declare)under penalty of perjury under the laws of the State of California that the foregoing
is true and correct.
Date:February 15, 2007
/S/Paresh Kavlekar
TRUSTEE SALE OFFICER E7. 6
Form affdvtsub(04102)
RECORDING REQUESTED BY:
RECONTRUST COMPANY,N-A.
AND WHEN RECORDED MAIL DOCUMENT THIS DOCUMENT IS BEING SENT TO YOU IN
AND TAX STATEMENTS TO: ACCORDANCE WITH CIVIL CODE SECTION 2934. THE
ORIGINAL OF THIS DOCUMENT HAS CONCURRENTLY
RECONTRUST COMPANY,N.A. BEEN SENT FOR RECORDING WITH THE COUNTY
1757 TAPO CANYON ROAD,SVW-88 RECORDER
SIMI VALLEY, CA 93063
ATTN:
Doc ID#000483080102005N
TS No. 06-2MM7
INVESTOR/INSURER No. 048308010
TSG No. 06-8-215434
SPACE ABOVE THIS LINE FOR RECORDER'S USE
SUBSTITUTION OF TRUSTEE
WHEREAS,ROBERT SCOTT,A MARRIED MAN AS HIS SOLE&SEPARATE PROPERTY was the
original Trustor,CTC REAL ESTATE SERVICES was the original Trustee,and MORTGAGE ELECTRONIC
REGISTRATION SYSTEMS,INC.was the original Beneficiary under that certain Deed of Trust dated
01/15/2004 recorded on 01/22/2004 as Instrument No.2004000048906 in Book Page
of Official Records of Orange County,California;
WHEREAS,the undersigned is the present Beneficiary under said Deed of Trust,and
WHEREAS,the undersigned desires to substitute a new Trustee under said Deed of Trust in place and instead
of said original Trustee,or Successor Trustee,thereunder,in the manner in said Deed of Trust provided,
NOW THEREFORE,the undersigned hereby substitutes RECONTRUST COMPANY,N.A.,WHOSE
ADDRESS IS: 1757 TAPO CANYON ROAD,SVW-88
SIMI VALLEY, CA 93063,as Trustee under said Deed of Trust.
Whenever the context hereof so requires,the masculine gender includes the feminine and/or neuter,and the
singular number includes the plural.
DATED: November 09, 2006 MORTGAGE ELECTRONIC REGISTRATION SYSTEMS,INC.
State of California )
BY: /S/Beneficiary or Investor
County of: )
On before me, ,notary public,personally appeared
personally known to me(or proved to me on the basis of
satisfactory evidence)to be the person(s)whose name(s)is/are subscribed to within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies),and that by his/her/their signature(s)on the
instrument the person(s),or the entity upon behalf of which the person(s)acted,executed the instrument.
Witness my hand and official seal.
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Form mingsub(10/01)
RESOLUTION NO. �0 4
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF HUNTINGTON BEACH
FINDING AND DETERMINING THAT THE USE OF MONIES FROM
THE LOW AND MODERATE INCOME HOUSING FUND OUTSIDE
THE PROJECT AREAS WILL BENEFIT THE PROJECT AREAS, AND
AUTHORIZING THE EXPENDITURE OF SUCH FUNDS
WHEREAS, the Redevelopment Agency of the City of Huntington
Beach ("Agency") is a Community Redevelopment Agency organized and
existing under the Community Redevelopment Law, Health and Safety
Code §33000, et seq. , (the "Act") ; and
The Agency is authorized to implement the Redevelopment Plans
for each of the Huntington Beach Redevelopment Projects (the
"Plans") for each of the Project Areas (the "Project Areas") ,
including the Main-Pier Redevelopment Project Area, the Oakview
Redevelopment Project Area, the Huntington Center Redevelopment
Project Area, the Yorktown-Lake Redevelopment Project Area and the
Talbert-Beach Redevelopment Project Area; and
Section 33334 .2 of the Act requires that not less than twenty
percent (200) of all taxes which are allocated to the Agency
pursuant to §33670 of the Act shall be used by the Agency for
purposes of increasing and improving the community' s supply of low
and moderate income housing ("Low and Moderate Income Housing
Fund") ; and
Pursuant to §33334 .2 of the Act the Legislature declares its
intent that the Low and Moderate Income Housing Fund shall be used
to improve and increase housing in the community; and
To carry out the purposes of increasing and improving the
community's supply of low and moderate income housing §33334 .2 (e)
of the Act states the Agency may exercise any or all of its powers,
-1- 174
E7 .9
,.6
including without limitation, acquiring land or building sites,
improving land or building sites with onsite or offsite
improvements, donating land to private or public persons or
entities, constructing buildings or structures, acquiring buildings
or structures, rehabilitating buildings or structures, providing
subsidies to, or for the benefit of, very low income households,
lower income households, or persons or families of low and moderate
income, or other powers to carry out the purposes of the Act; and
Subsection (g) of §33334 . 2 of the Act authorizes the Agency
to use monies from the Low and Moderate Income Housing Fund inside
or outside the Project Area, but the Agency may only use the funds
outside the Project Area upon resolutions of the Agency and the City
Council finding that such use will be of benefit to the Project
Area; and
Under said subsection (g) of §33334 .2 the Legislature
declares that the provision of replacement housing pursuant to
§33413 is always of benefit to a project area, and
The Agency desires by this Resolution to declare that the
expenditure of monies from the Low and Moderate Income Housing Fund
outside the Project Area for purposes authorized under the Act are
and will be of benefit to the Project Area;
NOW, THEREFORE, the Redevelopment Agency of the City of
Huntington Beach finds, declares, and resolves as follows:
1 . The Recitals above are fully incorporated into this
resolution and finding.
2. The expenditure of monies from the Low and Moderate
Income Housing Fund for purposes authorized under the Act outside
the Project Areas in which such funds are generated are and will be
_2_ 174
E7 . 10
of benefit to the respective Project Areas.
3 . The Agency is authorized to expend monies from the Low
and Moderate Income Housing Fund for said authorized purposes.
PASSED AND ADOPTED at a regular meeting of the Redevelopment
Agency of the City of Huntington Beach on the :.26th- day
-o f 1989 ,
REDEVELOPMENT AGENCY_ OF THE CITY
OF HUNTINGTON BEACH
Chairman
ATTEST: APPROVED AS TO FORM:
�1,1 0 ✓ J'
Secretary of the Redevelopment )ity Attorn Agency -of- the --City of Huntington
Beach
REVIEW AND APPROVED: I ITIATED AND APPROVED:
Executive Director ect of Economic Development
E7 . 11
-3- 1,74
7
s
STATE OF CALIFORNIA }
COUNTY OF ORANGE )SS
CITY OF HUNTINGTON BEACH )
I, Connie Brockway Secretary of the
Redevelopment Agency of the City of Huntington Beach hereby certify
that the above and foregoing. Resolution No. _174 was duly and
regularly passed and adopted by the said Agency at a publicly
noticed regular meeting thereof, held on the L2 ' day
Of c~June: 1989 .
Secretary of the Rede opment
Agency of the City of Huntington
Beach
-4- 174
E7 . 12
- Res. No. 174
STATE..OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF HUNTINGTON BEACH)
I, CONNIE BROCKWAY, Clerk-of the Redevelopment.,Agency of the
City of Huntington .Beach, California,. DO HEREBY CERTIFY that the foregoing..
resolution was duly adopted by the, Redevelopment Agency of the City of
Huntington Beach at a meeting of said. Redevelopment Agency held on the
26th day of June 19 -89, and that it-was so adopted
by the following vote:
AYES: Members:
MacAllister, .Green, Winchell,. .Bannister, Silva -
NOES: Members:
None
ABSENT: Members:
Mays, Erskine out of room
- Clerk of- the Redevelo ent- Agency of
the Cityof Huntington Beach., Ca.
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MAXIMUM SALES PRICE CALCULATION
CAPE ANN �
18862 Breezy
2006 MODERATE INCOME LIMITS ANNUAL HOUSING EXPENSES
FAMILY SIZE ANNUAL INCOME MONTH YEAR
1 65,800 161 1,932 HOMEOWNER'S ASSOCIATION DUES
2 75,200 55 660 UTILITIES
3 84,600 60 720 INSURANCE
4 94,000 50 600 MAINTENANCE
5 101,500 $413,475 372 4,466 PROPERTY TAX(1.08%)
698 $ 8,377.53 TOTAL EXPENSES
4 NUMBER OF BEDROOMS
101,500 HOUSEHOLD ANNUAL INCOME
35,525.00 INCOME AVAILABLE FOR HOUSING(35%OF GROSS INCOME)
27,147.47 INCOME LESS HOUSING EXPENSES
2,262.29 MAXIMUM MONTHLY MORTGAGE PAYMENT
6.13% CURRENT INTEREST RATE
$372,127 MAXIMUM MORTGAGE.
$413,475 MAXIMUM SALES PRICE(ASSUMING 10%DOWN PAYMENT)
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PREPARED:2/22/2007
ATTACHMENT #2
CITY OF HUNTINGTON B. A��qC
` E CE 3
Interoffice ® uniCa i® °
Economic Development Departms 7 MAR-5 PM 2: 22
CITY OF
HUN TINGTOi j BEACH
TO: Honorable Chairman and Redevelopment Agency Members
VIA: Penelope Culbreth Graft, DPA, Executive Director
FROM: Steve Holtz, Real Estate and Housing Manager
DATE: March 5, 2007
SUBJECT: Late Communication--E7 {Notice of Trustee Sale}
Amended Recommended Action:
Staff recommends authorizing up to. an additional $6,525 in order to pay accrued
interest and fees, bringing the total amount requested to an amount not to
exceed $420,000.
Analysis:
The City's outside legal representative, Richard Egger of Best Best Krieger, has been in ongoing discussions with the Trustee Sale agent and the mortgage
holder, Countrywide Mortgage, and has been advising staff as to how best
protect the City's interests in the subject foreclosure.
Staff would like to ensure that the Agency authorizes sufficient funds to cover not
only the first mortgage payoff, but also any associated fees and interest that may
have accrued. As of this date, the mortgage holder has been uncooperative in
providing a payoff amount of the loan in foreclosure, so the total payoff amount is
not currently known. This may be greater than the $413,475 requested in the
Agency's Recommended Action.
Staff recommends authorizing an additional $6,525 to pay accrued interest and
fees in the event this is necessary,
s a
3�
ATTACHMENT #3
This Document was electronically recorded by
VIRST AMERICAN TITLE INSURANCE COMPANY Lenders Advantage B
WHEN RECORDED MAIL TO: Recorded in Official Records,Orange County
MAIL TAX STATEMENTS TO Tom Daly,Clerk-Recorder
WL HOMES LLC,A DELAWARE LIMITED
LIABILITY COMPANY AND THE IIIIIIIIIIRIIIIIIIII�III�III�II1�101111111111111111�.fl�
REDEVELOPMENT AGENCY OF THE CITY OF
HUNTINGTON BEACH 2O09000000667 01.12pmm 01/02/09
120 8 T09 4
0.00 0.00 0.00 0.00 9.00 0.00 0.00 0.00
iPr~ 1 M13T►-0 BY
FIRST Ail,,, COilrif'AN
AS AN ACCO t i 0C-Ai ION ONLY
Space above this line for recorder's use only
Trustee Sale No. 08-24832 Loan No. SCOTT Title Order No. 3847549
TRUSTEE'S DEED UPON SALE
THIS TRANSACTION IS EXEMPT FROM THE REQUIREMENTS OF THE REVENUE AND
TAXATION CODE, SECTION 480.3
The undersigned grantor declares:
1) The Grantee herein was the foreclosing beneficiary.
2) The amount of the unpaid debt together with costs was...................$445,491.17
3) The amount paid by the grantee at the trustee sale was...................$445,491.17
4) The documentary transfer tax is........................................................$ 0.00
5) Said property is in HUNTINGTON BEACH
and FIRST AMERICAN TITLE INSURANCE COMPANY (herein called Trustee), as the duly
appointed Trustee or substituted Trustee under the Deed of Trust hereinafter described, does
hereby grant and convey, but without covenant or warranty, express or implied, to
WL HOMES LLC, A DELAWARE LIMITED LIABILITY COMPANY AND THE REDEVELOPMENT
AGENCY OF THE CITY OF HUNTINGTON BEACH
(herein called Grantee), all of its right, title and interest in and to that certain property situated in
the County of ORANGE, State of California, described as follows:
SEE EXHIBIT "A"ATTACHED HERETO AND MADE A PART HEREOF
APN: 933-87-477
RECITALS:
This conveyance is made pursuant to the powers conferred upon Trustee by that certain Deed of
Trust dated 08-09-2000 and executed by ROBERT SCOTT, A MARRIED MAN AS HIS SOLE
AND SEPARATE PROPERTY, as Trustor, and Recorded 08-17-2000, Instrument 20000430759
of official records of ORANGE County, California, and after fulfillment of the conditions specified in
said Deed of Trust authorizing this conveyance.
Default occurred as set forth in a Notice of Default and Election to Sell which was recorded in the
Office of the Recorder of said County, and such default still existed at the time of sale.
1
Trustee Sale No,: 08-24832
Loan No.: SCOTT
Title Order No.: 3847549
All requirements of law regarding the mailing of copies of notices or the publication of a copy of the
Notice of Default or the personal delivery of the copy of the Notice of Default and the posting and
publication of copies of the Notice of a Sale have been complied with.
Trustee, in compliance with said Notice of Trustee's Sale and in exercise of its powers under said
Deed of Trust, sold the herein described property at public auction on 12-31-2008. Grantee, being
the highest bidder at said sale, became the purchaser of said property for the amount bid being
$445,491.17 in lawful money of the United States, or by credit bid if the Grantee was the
beneficiary of said Deed of Trust at the time of said Trustee's Sale.
DATE: December 31, 2008
FIRST AMERICAN TITLE INSURANCE COMPANY
A LENE C. BOWDIT H
STATE OF CALIFORNIA
COUNTY OF ORANGE
On December 31, 2008 before me, KRISTINA BOYD Notary Public, personally
appeared ARLENE C. BOWDITCH who proved to me on the basis of satisfactory evidence
to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to
me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
~as'Q COMM ssfon R. tt774
WITNESS my hand and officials z tvotaty Putt # 7�aa 19
san BeynQ�a cl -Colltornlq
\ C tno County -
Dies OCt2jL
Signature �� � _ {Seal) 2°tT
� ''
2
S
ORDER NO:3847549
REFERENCE NO:08-24832
EXHIBIT "A"
THE LAND REFERRED TO IN THIS GUARANTEE IS SITUATED IN THE STATE OF CALIFORNIA,
CITY OF HUNI'INGTON BEACH,COUNTY OF ORANGE AND IS DESCRIBED AS FOLLOWS:
A CONDOMINIUM COMPRISED OF;
PARCEL I:
UNIT 118 OF MODULE"A"1N LOT 1 OF TRACT NO. 15531, AS SHOWN ON A MAP RECORDED IN
BOOK 771,PAGES 26 TO 32 INCLUSIVE,OF MISCELLANEOUS MAPS,RECORDS OF ORANGE
COUNTY,CALIFORNIA, AS SHOWN AND DEFINED IN THE CONDOMINIUM PLAN FOR PHASE 11
RECORDED OCTOBER 29, 1999 AS INSTRUMENT NO. 19990760899 OF OFFICIAL RECORDS OF SAID
ORANGE COUNTY("CONDOMINIUM PLAN"),AND AS DEFINED IN THE DECLARATION OF
COVENANTS,CONDITIONS AND RESTRICTIONS,AND RESERVATION OF EASEMENTS FOR CAPE
ANN RE-RECORDED FEBRUARY 25, 1999 AS INSTRUMENT NO. 19990136116, AND THE NOTICE OF
ANNEXATION OF TERRITORY AND SUPPLEMENTAL DECLARATION OF COVENANTS,
CONDITIONS AND RESTRICTIONS FOR PHASE I 1 OF CAPE ANN RECORDED OCTOBER 29, 1999 AS
INSTRUMENT NO, 19990700901,BOTH OF SAID OFFICIAL RECORDS (COLLECTIVELY,
"DECLARATION").
PARCEL 2:
A ONE/TENTH (I/IOTH)UNDIVIDED FRACTIONAL FEE INTEREST IN AND TO MODULE B OF THAT
PORTION OF SAID LOT I OF SAID TRACT NO. 15 53 1, AS SHOWN AND DEFINED IN THE
CONDOMINIUM PLAN.
PARCEL 3:
AN EXCLUSIVE USE EASEMENT APPURTENANT TO THE AFORE-DESCRIBED CONDOMINIUM
UNIT IN,ON, OVER, ACROSS AND THROUGH THE CORPORATION PROPERTY FOR PARKING
SPACES,IF APPLICABLE, AS MORE PARTICULARLY DESCRIBED IN THE DECLARATION AND
SHOWN IN THE CONDOMINIUM PLAIT("EXCLUSIVE USE COMMON AREA").
PARCEL 4:
A NON-EXCLUSIVE EASEMENT APPURTENANT TO THE AFORE-DESCRIBED CONDOMINIUM UNIT
FOR INGRESS,EGRESS,USE,MAINTENANCE,REPAIR,DRAINAGE,ENCROACHMENT AND
ENJOYMENT IN,ON,OVER,UNDER,ACROSS AND THROUGH ALL PORTIONS OF THE
CORPORATION PROPERTY OF THE PROJECT WHICH ARE DESCRIBED IN THE DECLARATION,
EXCEPTING THEREFROM THOSE PORTIONS DESCRIBED THEREIN AND SHOWN IN THE
CONDOMINIUM PLAN AS EXCLUSIVE USE COMMON AREA,AND ACROSS ALL PORTIONS OF ANY
CORPORATION PROPERTY SUBSEQUENTLY ANNEXED INTO THE PROJECT WHICH IS NOT
DESCRIBED AS EXCLUSIVE USE COMMON AREA.
PARCEL 5:
NON-EXCLUSIVE EASEMENTS FOR INGRESS,EGRESS,ACCESS,MAINTENANCE,REPAIR,
DRAINAGE AND ENCROACHMENT,ALL AS DESCRIBED IN THAT CERTAIN DECLARATION OF
COVENANTS,CONDITIONS AND RESTRICTIONS AND RESERVATION OF EASEMENTS FOR THE
SEAGATE COMMUNITY RECORDED JULY 31, 1997 AS INSTRUMENT NO. 19970365470 OF OFFICIAL
RECORDS OF ORANGE COUNTY,CALIFORNIA(THE"COMMUNITY DECLARATION").
PARCEL 6:
i
REFERENCE NO:08-24832
A NON-EXCLUSIVE EASEMENT FOR YARD,DRAINAGE;LANDSCAPE,IRRIGATION,UTILITIES,
ENCROACHMENT,INGRESS,EGRESS AND ACCESS PURPOSES,IF APPLICABLE,AS DESCRIBED
AND DEPICTED IN THE DECLARATION.
t '
PRELIMINARY CHANGE OF OWNERSHIP REPORT FOR RECORDER'S USE ONLY
(To be completed by transferee(buyer)prior to transfer of subject property in
accordance with Section 480.3 of the Revenue and Taxation Code.)
THIS REPORT IS NOT A PUBLIC DOCUMENT
SELLERITRANSFEROR:ROBERT SCOTT
BUYERITRANSFEREE:WL HOMES LLC,A DELAWARE LIMITED LIABILITY COMPANY AND
THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH
ASSESSOR'S PARCEL NUMBER(S) :933-87-477
LEGAL DESCRIPTION:SEE EXHIBIT"A"ATTACHED HERETO AND MADE APART HEREOF
PROPERTY ADDRESS 18862 BREEZY LANE
HUNTINGTON BEACH,CA 92648
MAIL TAX INFORMATION TO:
WL HOMES LLC, A DELAWARE LIMITED LIABILITY
COMPANY AND THE REDEVELOPMENT AGENCY OF THE
CITY OF HUNTINGTON BEACH
2000 MAIN STREET
HUNTINGTON BEACH,CA 92648
The property which you acquired may be subject to a supplemental assessment in an amount to be determined by the County Assessor. For further
information on your supplemental roll obligation,please call the ORANGE County Assessor,
PART 1: TRANSFER INFORMATION Please answer all questions
YES NO
[ I [X J A. Is this transfer solely between husband and wife?(Addition of a spouse,death of a spouse,divorce settlement,etc.)
[ J [X J B. Is this transaction only a correction of the name(s)of the person(s)holding title to the property?
[ ] [X] (For example,a name change upon marriage)
[X] [ j C. Is this document recorded to create,terminate,or reconvey a lender's interest in the property?
[ ] [X] D. Is this transaction recorded only to create,terminate,or reconvey a security interest(e_g.,cosigner)?
[ ] [X} E. is this document recorded to substitute a trustee under a deed of trust,mortgage,or other similar document?
[ J [X j F. Did this transfer result in the creation of a joint tenancy In which the seller(transferor)remains as one of the joint tenants?
[ ) [X] G. Does this transfer return property to the person who created the joint tenancy(original transferor)?
( ] [X] H. Is this transfer of property:
[ ] [X} 1. to a trust for the benefit of the grantor,or grantor's spouse?
[ ] [X) 2. to a trust revocable by the transferor?
t J [X) 3. to a trust from which the property reverts to the grantor within 12 years?
[ [ [X] I. If this property is subject to a lease,is the remaining lease term 35 years or more including written options?
[ ] [X] J. Is this a transfer from parents to children or from children to parents?
[ ] [X] K. Is this transaction to replace a principal residence located in Orange County by a person 55 years of age or older?
Please provide any other information that would help the Assessor to understand the nature of the transfer.
IF YOU HAVE ANSWERED"YES"TO ANY OF THE ABOVE QUESTIONS,PLEASE SIGN AND DATE ON THE BACK SIDE.
IF YOU HAVE ANSWERED"NO"TO ALL OF THE ABOVE QUESTIONS,PLEASE COMPLETE BALANCE OF THE FORM.
PART II: OTHER TRANSFER INFORMATION
A. Date of transfer if other than recording date
B. Type of transfer. Please check appropriate box.
[ } Purchase [X} Foreclosure [ J Gift [ } Trade or Exchange
[ ] Contract of Sale-Date of Contract
[ J inheritance-Date of Death ( } Other.Please explain:Deed in Lieu of Foreclosure
[ J Creation of a Lease; [ ] Assignment of a Lease; [ ] Termination of a Lease
Date lease began
Original term in years(including written options)
Remaining term in years(including written options)
C. Was only a partial interest in the property transferred? [ ] Yes [ } No
If yes,indicate the percentage transferred %
PRELIMINARY CHANGE OF OWNERSHIP REPORT
Please answer,to the best of your knowledge,all applicable questions,sign and date. IF a question does not apply, indicate with"NIA".
PART III: PURCHASE PRICE&TERMS OF SALE
A.CASH DOWN PAYMENT OR Value of Trade or Exchange(excluding closing cost) Amount
B. FIRST DEED OF TRUST @ %interest for--years.Pymts.lMo.=$ (prin_&Int.only) Amount S____
( ]FHA [ j Fixed Rate [ ]New Loan
[ ]Conventional [ ]Variable Rate [ ]Assumed Existing Loan Balance
[ ]VA [ ]All Inclusive D.T.($ Wrapped) [ ] Bank or Savings&Loan
[ ]Cal-Vet ( ]Loan Carried by Seller [ I Finance Company
Balloon Payment [ ]Yes [ ]No Due Date Amount$
C. SECOND DEED OF TRUST @ %interest for years.Pymts./Mo.=$ (Prin.& Int.only) Amount$
[ ]Bank or Savings&Loan [ ]Fixed Rate [ ]New Loan
[ ]Loan Carried by Seller [ ]Variable Rate [ }Assumed Existing Loan Balance
Balloon Payment [ ]Yes [ ]No Due Date Amount$
D. OTHER FINANCING: Is other financing involved not covered in(b)or(C)above? [ ]Yes [ ]No Amount$
Type @ %interest for years.Pymts.lMo.=$ (Prin.&Int.only)
[ ]Bank or Savings&Loan [ ]Fixed Rate [ ]New Loan
[ ]Loan Carried by Seller [ )Variable Rate [ ]Assumed Existing Loan Balance
Balloon Payment [ J Yes [ ] No Due Date Amount$
E. IMPROVEMENT BOND [ ] Yes [ ]No Outstanding Balance: Amount$-__
F. TOTAL PURCHASE PRICE(of acquisition price,It traded or exchanged,include real estate commission if paid.)
Total Items A through E $
Please explain any special terms or financing and any other information that would help the Assessor understand the purchase price and terms of sale.
PART IV: PROPERTY INFORMATION
A. IS PERSONAL PROPERTY INCLUDED IN THE PURCHASE PRICE?
(other than a mobllehome subject to local property tax)? [ ] Yes t ] No
If yes,enter the value of the personal property included in the purchase price S (Attach itemized list of personal property)
B. IS THIS PROPERTY INTENDED AS YOUR PRINCIPAL RESIDENCE: [ ] Yes [ J No
If yes,enter date of occupancy / ,19 or,intended occupancy / ,19
Month Day Month Day
C. TYPE OF PROPERTY TRANSFERRED:
[ J Single-family residence [ j Agricultural [ ]Timeshare
[ ]Multiple-family residence(no.of units: } [ ]Co-op/Own-your-awn [ ] Mobilehome
[ ]Commercial/industrial [ ]Condominium [ ]Unimproved lot
[ J Other(Description: )
D. DOES THE PROPERTY PRODUCE INCOME? [ J Yes I ] No
E. IF THE ANSWER TO QUESTION D IS YES,IS THE INCOME FROM:
[ ]Lease/Rent [ ]Contract [ j Mineral Rights [ j Other-explain:
Enter here,or on an attached sheet,any other information that would assist the Assessor in determining value of the property such as the
physical condition of the property,restrictions,etc.
I certify that t or rue,correct a�ENEC
lete to the best of my knowledge and belief.
Signed - Date:12-31-2008
FORECLC E TRUSTEE: F RST A ERICA TITLE INSURANCE CO BY ARLO"VDITCH
Please Print Name of New Owneftegal Representative/Corporation Officer DENISE BAZANT
Phone No.where you are available from 8:00 a.m.-5:00 p.m.(714)536-547D. 'TRANSFERRED FROM AGENT TO PRINCIPLE'
(NOTE:The Assessor may contact you for further Information)
If a document evidencing a change of ownership is presented to the recorder for recordation without the concurrent filing of a preliminary
change of ownership report,the recorder may charge an additional recording fee of twenty dollars($20).The additional fee shall not be charged
if the document is accompanied by an affidavit that the transferee is not a resident of California.
AFFIDAVIT OF NON-RESIDENT TRANSFEREE
The Transferee(buyer)named above is a resident of — and not a resident of the State of California.
Signed _ _ Date:
New OwnerlLegal Representative/Corporate Officer
R`CA ROUTING SHEET
INITIATING DEPARTMENT: Economic Development
SUBJECT: Authorize Sale of Agency-Owned.Housing Unit
COUNCIL MEETING DATE: April 6, 2009
CA.ATTACHMENTS STATUS
Ordinance (w/exhibits & legislative draft if applicable) Attached ❑
Not Applicable
Resolution (w/exhibits & legislative draft if applicable) Attached ❑
Not Applicable.
Tract Map, Location Map and/or other Exhibits Attached ❑
Not Applicable
Contract/Agreement (w/exhibits if applicable) Attached ❑
(Signed in full by the City Attorney) Not Applicable
Subleases, Third Party Agreements, etc. Attached ❑
(Approved as to form by City Attorney) Not Applicable
Certificates of Insurance (Approved by the City Attorney) Attached ❑
Not Applicable
Fiscal Impact Statement (Unbudgeted, over $5,000) Attached ❑
Not Applicable
Bonds(If applicable) Attached ❑
Not Applicable
Staff Report (If applicable) NotAttached
h d El
licable
Commission, Board or Committee Report (If applicable) Attached ❑
Not Applicable
Findings/Conditions for Approval and/or Denial Attached ❑
Not Applicable
EXPLAl ATION FOR K➢MNG ATTACH RflENTS _.
REVIEWED RE> U FOR RDED N'�°D
Administrative Staff )
Deputy City Administrator (Initial)
City Administrator (Initial) ( ) )
City Clerk ( )
EXPLANATION FOR RETURN OF ITEM:
RCA Author: Bazant