Resolution No. 6605047
RESOLUTION NO. 6605
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
APPROVING A SETTLEMENT AGREEMENT AMONG THE CITY OF CYPRESS,
THE SUCCESSOR AGENCY TO THE DISSOLVED CYPRESS REDEVELOPMENT
AGENCY, DEFENDANTS CALIFORNIA DEPARTMENT OF FINANCE, AND MICHAEL
COHEN IN HIS OFFICIAL CAPACITY AS THE DIRECTOR OF THE CALIFORNIA
DEPARTMENT OF FINANCE, THE STATE CONTROLLER'S OFFICE,
AND JOHN CHIANG IN HIS OFFICIAL CAPACITY AS CONTROLLER
FOR THE STATE OF CALIFORNIA
WHEREAS, the City of Cypress ( "City ") is a California municipal corporation
operating under the laws of the State of California; and
WHEREAS, the Successor Agency to the Dissolved Cypress Redevelopment
Agency ( "Successor Agency ") is a public agency pursuant to Health and Safety Code
Section 34173; and
WHEREAS, the Cypress Redevelopment Agency ( "RDA ") was a public body,
corporate and politic, exercising governmental functions and previously exercised
powers under the Community Redevelopment Law, Health and Safety Code Section
33000 et seq. ( "CRL "); and
WHEREAS, in January 2011, the Governor of California first proposed as part of
the 2011 -12 budget, the possible dissolution of redevelopment agencies to cover an
estimated $25 billion shortfall. In June 2011, Assembly Bill 26 from the 2011 -2012 First
Extraordinary Session of the California Legislature ( "ABx1 26 ") was enacted as a bill
related to the 2011 Budget Act. In June 2012, Assembly Bill 1484 from the 2011 -2012
Regular Session of the California Legislature ( "AB 1484 ") was enacted as a bill related
to the 2012 Budget Act. ABx1 26, as modified by the California Supreme Court
Decision in California Redevelopment Association v. Matosantos (2011) 53 Ca1.4th 231,
dissolved all redevelopment agencies and redevelopment functions of community
development commissions in California on February 1, 2012; and
WHEREAS, pursuant to Health and Safety Code Section 34173, added by ABx1
26 and amended by AB 1484, the Successor Agency assumed on February 1, 2012, all
authority, rights, powers, duties, and obligations previously vested with the RDA, except
for those provisions of the CRL that were repealed, restricted, or revised pursuant to
Part 1.85 of Division 24 of the Health and Safety Code; and
WHEREAS, City and Successor Agency filed the following Sacramento Superior
Court action against, inter alia, Defendants California Department Of Finance, Michael
Cohen in his official capacity as the Director of the California Department of Finance,
the State Controller's Office, and John Chiang in his official capacity as Controller for
the State of California (defendants together, "DOF "): City of Cypress v. State of
California, case no. 34- 2013 - 80001585 ( "Lawsuit "); and
WHEREAS, the City, Successor Agency, and DOF have reached a settlement of
their disputes related to the Lawsuit, which settlement is set forth in the "Settlement
Agreement" dated February 2, 2017, which is attached hereto as Exhibit "A"
( "Settlement Agreement "); and
WHEREAS, pursuant to Health and Safety Code Section 34180, the Successor
Agency will submit the Settlement Agreement to the Oversight Board and request its
approval of the Settlement Agreement; and
WHEREAS, this matter was considered by the City Council at a regular meeting
held on January 9, 2017.
NOW, THEREFORE, BE IT RESOLVED by the City Council as follows:
Section 1. The above recitals are true and correct and incorporated herein.
048
Section 2. The City Council hereby approves the Settlement Agreement.
Section 3. The City Clerk shall certify to the adoption of this Resolution.
PASSED AND ADOPTED by the City Council of the Cjty of Cypress at a regular
meeting held on the 9th day of January 2017.
ATTEST:
A-it/WC z
CITY CLERK OF THE CITY OF CYPRESS
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
AYOR OF THE CITY OF CYPRESS
I, DENISE BASHAM, City Clerk of the City of Cypress, DO HEREBY CERTIFY
that the foregoing Resolution was duly adopted at a regular meeting of the said City
Council held on the 9th day of January, 2017, by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Berry, Johnson, Yarc, Peat, and Morales
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
CITY CLERK OF THE CITY OF CYPRESS
049
SETTLEMENT AGREEMENT
City of Cypress v. State of California,
Sacramento Superior Court, Case No. 34- 2013- 80001585
PARTIES
This Settlement Agreement ( "Agreement ") is entered into by petitioners and plaintiffs the
City of Cypress ( "City ") and the Successor Agency to the Dissolved Cypress Redevelopment
Agency ( "Successor Agency ") (collectively "Plaintiffs ") on the one hand, and on the other hand,
Respondents and Defendants California Department Of Finance ( "Finance "), Michael Cohen in
his official capacity as the Director of the California Department of Finance, the State Controller's
Office ( "Controller's Office "), and John Chiang in his official capacity as Controller for the State
of California Defendants (collectively "Defendants "). Plaintiffs and Defendants are sometimes
collectively referred to as the "Parties."
RECITALS
A. Plaintiffs have filed the following Sacramento Superior Court action, which
remains pending, against Respondents: City of Cypress v. State of California, case no. 34 -2013-
80001585 (the "Action ").
B. The Action relates to the wind down of the Cypress Redevelopment Agency
( "RDA ") pursuant to Assembly Bill 26 of the 2011 -12 First Extraordinary Session of the
California Legislature ( "AB xl 26 "), Assembly Bill 1484 of the 2011 -12 Regular Session of the
California Legislature ( "AB 1484 ") and Senate Bill 107 of the 2015 -16 Regular Session of the
California Legislature ( "SB 107 ") (collectively the "Dissolution Law ").
C. Under AB xl 26, as interpreted by Community Redevelopment Association v.
Matosantos (2011) 53 Ca1.4th 231, the RDA was dissolved on February 1, 2012. Plaintiffs allege
that following the dissolution of the RDA, but prior to the passage of AB 1484, the City and the
Successor Agency re- entered into a loan that had originally been entered into by the City and the
RDA on or about July 1, 2009, years prior to the passage of the Dissolution Act. The original loan
agreement is referred to herein as the "2009 Loan." A Copy of the 2009 Loan is attached and
incorporated herein by reference as Exhibit A. The original amount owing under the 2009 Loan
agreement was $42,500,000.
D. On or about June 30, 2011, the RDA made a $1,196,000 interest payment on the
2009 Loan to the City ( "Interest Payment ").
E. On March 18, 2011, the RDA purported to sell 13.329 acres of land (the "Land ")
to City for $18,580,000. The City purported to pay the purchase price for the Land by reducing
the balance on the 2009 Loan from $42,500,000 to $23,920,000.
F. On May 22, 2012, City and Successor Agency allegedly re- entered the 2009 Loan
( "Re- Entered Loan "). Per the terms of the Re- Entered Loan, the balance due on the Re- Entered
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Loan was $25,116,000 with simple interest accruing at an amount equal to the amount earned on
the State's Local Agency Investment Fund ( "LAIF ") per annum.
G. Plaintiffs allege that the Re- Entered Loan was approved by the Oversight Board to
the Successor Agency. A copy of the Re- Entered Loan agreement is attached and incorporated
herein by reference as Exhibit B.
H. The Successor Agency requested authorization on each of its Recognized
Obligation Payment Schedules ( "ROPS ") to make payment on the $25,116,000 Re- Entered Loan
amount beginning with the January to June 2012 period.
I. Finance disallowed the Successor Agency's ROPS requests to make payment on
the $25,116,000 Re- Entered Loan amount until the January 1, 2016 to June 30, 2016 period
( "ROPS 15 -16 B period ") at which time Finance allowed and approved the Re- Entered Loan and
payments thereon. For purposes of reference, the Re- Entered Loan agreement was identified in
the ROPS 15 -16B as line item 2. During the ROPS 15 -16 period, the Successor Agency did not
receive sufficient money from the Redevelopment Property Tax Trust Fund ( "RPTTF ") to pay the
full amount approved by Finance for the Re- Entered Loan. For the period covering July 1, 2016
to June 30, 2017 ( "ROPS 16 -17 period "), Cypress added ROPS line item 11 to request funds from
the RPTTF for the ROPS 16 -17 period to pay for the amount approved on the Re- Entered Loan
during the ROPS 15 -16 period that the Successor Agency was unable to pay ( "Shortfall
Payment ").
J. As of July 1, 2016, the Re- Entered Loan has a current outstanding balance of
$20,882,539 ( "Re- Entered Loan Balance ").
K. On May 5, 2013, through the Other Funds and Accounts Due Diligence Review
Process ( "OFA DDR ") Finance disallowed (i) the March 18, 2011 transfer of the Land from the
RDA to the City, and (ii) the Interest Payment.
L. On or about January 13, 2014, the Successor Agency remitted the Interest Payment
that was disallowed by Finance through the OFA DDR to the Orange County Auditor - Controller
for allocation to the affected taxing entities.
M. On or about February 23, 2015, as part of the wind down of redevelopment agencies
pursuant to Dissolution Law, the Controller's Office completed an audit of asset transfers from the
RDA to other public entities during the period January 1, 2011 through January 31, 2012. The
Controller's Office concluded that the Land had been wrongfully transferred from the Successor
Agency to the City during that period, and ordered that the transfer be reversed. The Land is
described in detail in the quitclaim attached hereto as Exhibit C and incorporated herein by
reference. In addition, the Controller's Office concluded $170,536 had been wrongfully
transferred from the Successor Agency to the City as payment on the 2009 Loan and ordered that
the transfer be reversed. To date, the City has not completed the transfer of the Land to the
Successor Agency, as ordered by the Controller's Office.
N. Plaintiffs have commissioned and completed two studies to value the Land. The
first study, completed on March 11, 2011, determined the fair market value of the property to be
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$18,580,000. The second study, completed on November 17, 2015, determined that the total fair
market value of the property is $12,500,000.
O. Without admission of fault or wrongdoing, the Parties have agreed to completely
resolve any and all disputes between the Parties pertaining to, or in any way relating to, the Action
by entering into this Agreement.
AGREEMENT
Accordingly, in consideration of the mutual promises contained herein, the Parties agree
as follows:
1. Principal Terms. The Parties agree to the following resolution of the litigation:
(a) Defendants shall not take any action to enforce the Controller's
Office order that City transfer the Land back to the Successor Agency, and shall allow the retention
of the Land by the City. Additionally, Defendants shall treat remittance of the Interest Payment
described in Recitals K and L of this Agreement as compliance with the order by the Controller's
Office to reverse the $170,536 transfer described in Recital M of this Agreement.
(b) Between July 1, 2016 and the effective date of this Agreement the
Re- Entered Loan Balance will accrue simple interest at the LAIF rate.
(c) On the effective date of this Agreement the Re- Entered Loan
Balance shall be reduced by $15,000,000. As a result of the reduction, the outstanding principal
balance on the Re- Entered Loan will be $5,882,539 ( "New Re- Entered Loan Balance "). Per the
terms of the Re- Entered Loan, the New Re- Entered Loan Balance will accrue simple interest at
the LAIF rate per annum. Plaintiffs shall only request authorization to pay the New Re- Entered
Loan Balance, and the interest specified in this paragraph and in paragraph 1(b), on the Successor
Agency's ROPS.
(d) Both the City and Successor Agency waive and release any rights
and claims they may have to pay and/or to receive payment for the 2009 Loan and the Re- Entered
Loan, except as provided in paragraphs 1(b) and 1(c). This waiver also relates to any ROPS line
item related to the payment or receipt of payment for the 2009 Loan and the Re- Entered Loan,
including ROPS line item 11 for the 2016 -2017 period regarding the Shortfall Payment on the Re-
Entered Loan, except as provided in paragraphs 1(b) and 1(c).
(e) Within seven (7) days of the effective date of this Agreement,
Plaintiffs shall dismiss the Action with prejudice.
2. Claims Disputed. This Agreement does not constitute, nor shall it be construed as,
an admission or concession by any of the Parties for any purpose. This Agreement is a compromise
settlement of the Action, and by executing this Agreement, none of the Parties admits wrongdoing,
liability, or fault in connection with either the Action or the allegations asserted in the Action.
3. Mutual Release. The Parties specifically and mutually release and discharge each
other, including their respective officers, directors, commission members, trustees, agents,
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employees, representatives, attorneys, insurers, departments, divisions, sections, successors and
assigns, from all obligations, damages, costs, expenses, liens, attorney fees of any nature
whatsoever, whether known or unknown, suspected or not suspected to exist, claimed or not
claimed, disputed or undisputed, pertaining to the Action.
4. Successors and Assigns. This Agreement shall be binding upon the Parties'
respective officers, directors, commission members, trustees, agents, employees, representatives,
attorneys, departments, divisions, sections, successors and assigns.
5. Assumption of Risk. The Parties each represent that they fully understand that if
the facts pertaining in any way to the Action are later found to be different from the facts now
believed to be true by any Party, each of them expressly accepts and assumes the risk of such
possible differences in facts and agrees that this Agreement shall remain effective notwithstanding
such differences in facts. The Parties also each represent that this Agreement was entered into
under the laws current as of the effective date, and agree that this Agreement shall remain effective
notwithstanding any future changes in the law.
6. Independent Advice of Counsel. The Parties each represent that they know and
understand the contents of the Agreement and that this Agreement has been executed voluntarily.
The Parties each further represent that they have had an opportunity to consult with an attorney of
their choosing and that they have been fully advised by the attorney with respect to their rights and
obligations and with respect to the execution of this Agreement.
7. Entire Agreement. No promise, inducement, understanding, or agreement not
expressed has been made by or on behalf of the Parties, and this Agreement contains the entire
agreement between the Parties related to the Action.
8. Indemnity. Each Party represents that it has not assigned, transferred, or purported
to assign or transfer to any person or entity any matter released herein. The Plaintiffs in the Action
also agree to indemnify and hold harmless the Defendants in the Action and their successors and
assigns against any claims, demands, causes of action, damages, debts, liabilities, costs or
expenses, including, but not necessarily limited to, attorney fees, arising out of or in connection
with the Action.
9. Amendments in Writing. This Agreement may not be altered, amended, modified,
or otherwise changed in any respect except by a writing duly executed by the Parties. The Parties
agree that they will make no claim at any time or place that this Agreement has been orally altered
or modified or otherwise changed by oral communication of any kind or character.
10. Construction. The Parties agree that this Agreement is to be construed and
interpreted without regard to the identity of the party drafting this Agreement.
11. Additional Acts. The Parties agree to take such actions and to execute such
documents as are necessary to carry out the terms and purposes of this Agreement.
12. Attorneys' Fees. The Parties shall each bear their respective attorney fees and costs
incurred in the litigation.
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13. Enforcement. If any Party to this Agreement files a lawsuit to enforce or interpret
this Agreement, the prevailing Party in any such suit shall be entitled to reimbursement for
reasonable attorney fees and costs.
I4. Choice of Law and Jurisdiction. This Agreement shall be governed by the laws of
the State of California. If any Party to this Agreement brings a lawsuit to enforce or interpret this
Agreement, the lawsuit shall be filed in the Superior Court for the County of Sacramento,
Califomia.
15. Counterparts. This Agreement may be executed by facsimile and in counterparts,
each of which is deemed an original and all of which shall constitute this Agreement.
16. Effective Date. The date on which the last counterpart of this Agreement is
executed shall be the effective date of this Agreement.
17. Authority to Execute. Each Party represents that they have the authority to enter
into and perform the obligations necessary to provide the consideration described in this
Agreement. Each person signing this Agreement represents and warrants that they have the
authority to sign on behalf of the Party for which they sign.
This Agreement consists of Recital Paragraphs A - 0, Agreement Paragraphs 1 - 17, and
Exhibits A -C.
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[SIGNATURES ON NEXT PAGE]
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053
Dated 1 H 1
Dated: 1— 31,-13
ATTEST:
lOtGut.9e.- e'cotaeY1
City Clerk of the City of Cypress
CITY OF CYPRESS
SUCCESSOR AGENCY TO THE DISSOLVED
CYPRESS REDEVELOPMENT AGENCY
By:
Its: Di ector
Dated: CALIFORNIA DEPARTMENT OF FINANCE
and Michael Cohen in his official capacity as its
Director
By: Kari Krogseng
Its: Chief Counsel
Dated: CALIFORNIA STATE CONTROLLER'S
OFFICE and Betty Yee in her official capacity as
Controller
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By:
Its: Chief Counsel
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054
Dated: CITY OF CYPRESS
By:
Its: Mayor
Dated: SUCCESSOR AGENCY TO THE DISSOLVED
CYPRESS REDEVELOPMENT AGENCY
ATTEST:
City Clerk of the City of Cypress
Dated: A
By:
Its: Director
CALIFORNIA DEPARTMENT OF FINANCE
and Michael Cohen in his official capacity as its
Director
By: Kali Krogseng
Its: Chief Counsel
Dated: CALIFORNIA STATE CONTROLLER'S
OFFICE and Betty Yee in her official capacity as
Controller
680,'017943-0033
9988246.4 x01.04.'17
By:
Its: Chief Counsel
-6-
055
Dated: CITY OF CYPRESS
By:
Its: Mayor
Dated: SUCCESSOR AGENCY TO THE DISSOLVED
CYPRESS REDEVELOPMENT AGENCY
By:
Its: Director
ATTEST:
City Clerk of the City of Cypress
Dated: CALIFORNIA DEPARTMENT OF FINANCE
and Michael Cohen in his official capacity as its
Director
Dated:
680/0I7943 -0033
9988246.4 601/04/17
By: Kari Krogseng
Its: Chief Counsel
CALIFORNIA STATE CONTROLLER'S
OFFICE and Betty Yee in her official capacity as
Controller
By: RI
Its: Chief Counsel
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056
Approved as to Form:
Dated: 3 /a/ 7
Dated:
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9966746.4 401/04/17
RUTAN & TUCKER, LLP
,L
ey elching
Attorneys for City of Cypress and Su
Agency to the Dissolved Cypress Re
Agency
CALIFORNIA DEPARTMENT OF JUSTICE
OFFICE OF THE ATTORNEY GENERAL
Deputy Attorney General
Attorneys for Defendants
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057
Approved as to Form:
Dated: RUTAN & TUCKER, LLP
Dated: Fe b'U 2 r 2.0j
6E0/017943 -0033
99101246.4 .01/04/17
Jeffrey T. Melching
Attorneys for City of Cypress and Successor
Agency to the Dissolved Cypress Redevelopment
Agency
CALIFORNIA DEPARTMENT OF JUSTICE
OFFICE OF THE ATTORNEY GENERAL
Deputy Attorney General
Attorneys for Defendants
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058
EXHIBIT A
2009 LOAN
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9437156.1 .03/10/16
059
060
EXHID T" A"
REPAYMiM AGREEMENT
Repayment AW.smsnt is instated Into as of the 23rd day of March 2009, by and
behveen the Cypress Redevelopment Agency, a pubic body carnotite and pone (the
"Agency" j and the City of Cypress. a public body corporate and po1II (1*'City).
REOITAL6
A. Whereas, the C2ly and Agency wvauid hies to consolidate all outstanding notes
between the Agency and My is a single note as of Juty 1, 2008, and
R, Sufficient cash flows ruilll not be avertable to pay off the outstanding notes as of Jutp
1, 2009, and
C. At aooruMd interest associated with the sewn notes currenity outstanding wit be
paid by the Amino/ to the C lly on June 30, 2008, and
0. Whereas, the C y and Agency would Ike to formally nissus *42.5 millon
s� an July 1.2009 and establish en applicable interest rate of
eve percent (5%),
E. The $42.5 million ($42.500,000) In notes are aesoclated with the Agency's three
protect areas as fotiom:
Clvtc Center $ 7,000,000
uncolnAvenue $ $.000.
Los Alamitos Race Track $ 32,500.000
NOW, THEREFORE, to consideration of the fotegob g mutual covenants and condition
set forth herein, the pules herein agree as follows:
8aotlnn 1, The Agency hereby agrees to pay Ere City se full consideration for the loan
referred to in the recitals fser in Bove, the totat sum of Forty Two Mnlbn and flyer
Hundred Thousand Dollars ($42,300,000) with interest thereon calculated at a rate of
Aye percent (5.O%) per annum. The Agency's obligations hereunder shah be evidenced
bby neleren Ohs Note 'Purchase In the form Note`). hereto and Irtparporated turrskt
Payment of all accrued Weisel with mepsot to the PuNehatie Money Promiseory Note
shall be due annually on June 300 starting on June 30, 2010. Payment of the
prirrctpal with respect to the Purchase Money Promissory Nots shall be due
on June 2012 unties extended by mutual agreement c4 the parties hereto.
However, a portion of the outstandhs principal *11 be due at the tuns the approximately
13 acres of land ours endy owned by the Agency has been resold and If the Agency has
sufficient monies to repay the City or al any other tine during the term of the Purchase
Money Promissory Note that euliloient monies become available based co staff's
recommendations.
061
The Agency stiaa execute and delver the Purchase Money Promissory Note as of the
date dal execution of this Agreement.
Section Z. The Agency*. obligatan to make patymenb to the City pursuant to the
Purchase Money Psrdaecry Note shat be payable solely fncm (a) properly taxes
allocated to the cy from the Project Area in aohordenos with Health and Safety
Codes Section 3� (b) (Max fracrenenl but only If and to the extent Tax Increment
h reoelued, or (b) funds that the Agency MOWN* from the sale of property located in
any of the three project areas and deter dose to Its sole demotion b use to repay said
amounts. in the anent that there are insufficient funds from the source* warmed
herein to make the required payment. with respect to the Purchase Money Promissory
Node to the year in which such payments we to be made, the RMy shall reasonably
consider (but shall not be obligated to) extend the erne for payment by adding such
amounts to the phfnatpel balance evidenced by the Purchase Money Promissory Nob
and interest at the rats set forth in the Purchase Mosey Promissory Note.
lisatton S. The puttee hereto acknowledge and agree that the Agency's obligation to
pay the amounts evidenced by the Purchase Money Promissory Note Wra! be
automatiwxy subordinated to any other obligation of the Agency secured by Tex
Increment or for which Tax increment le otherwise pledged to.cormection with the
Issuance of bonds or cart/Neates d parbcipstion as part of the implementation of Ito
Redevelopment Plan for fine Project Ames.
Sedan 4. The Agency strati have the right at any tuna, from time to tee, upon at least
ten (10) days written notice to the Clbr, tc propay without premium or permtly, the
outstanding balance of the Purchase Money Promissory Note, or any portion thereof,
with Interest payable through the date of such prominent.
Aeptlan 5. This Agreement embodies the entire Agreement understanding between the
parties hereto with respect b the matters set forth hsnain and supersedes all peon
agreements and undastandinge retested to the subject matter hereof.
Section & This Agreement shall terminate when mil obligatiodns of the Agency es
evidenced by the Purchase Money Promissory Note stall have been dlscherged in full.
7. in case any one or more of the provisions contained in tits Agreement
be i nvaibd, Hiegel l ar unenforceable M any respect, the validity, legality and
entaroeabmMty of the remaining provIsices contained herein shay not In any way be
effected or impaired thereby.
Section g, i+to member, officer, agent or employee of the Agency shall be individually or
personally Vable for the payment d, the pdnc psi of or interest on the PurohasarMortey
Promissory We.
Sedan 9. The parties hereto acknowledge end agree that the obflgattona of the
Agency evidenced by the Purchase Money Promlueary Note constitute an
indebtedness' wthin the meaning of Health and Safety Code Section 99670 (b).
IN WITNESS WHEREOF, the parties have executed this Repayment Agreement as of
the date lust above vwlttett.
CITY CIF CYPRESS
ATTEST;
NteHurt taaM,.i
City Cleric
CYPRESS RR EVELOPMENT AGENCY
By
sney Board
ATTEST
062
PURL IASE MONEY PROMISSORY NOTE (RDA 1)
$42,$S0,000 Cypress, CA
Juty1,*
The Cypress Redevelopment Agency, a pubic body corporate and poltio (the
- Apencyq, for value reoetved, hereby prom es to to the City of Cypress, prabl(o
Huunndreed Thous x,500 000 sum eta of Ninon and
race. with interest
a percent thereon %) pier unpaid
r to tlurc cries hereof Mona at ec
Promhrscry Nolo, the Agency shall Pay aM Merest annually on June �Id" and the
principal l an or before Jun. 3D, 2012. thfsnr*.haell be computed upon the bar of a
three hundred ebdy (300) day year and a thhty (30) day month.
This NM is the Punters. Money Prandisory Note taloned to In the Repayment
AIs.mant dated as of Judy t, 2009, between the City and the Agency and is entitled to
all the bombs and is eub)..ott to aM the limitation. provided far Meath Reference is
mar. to said Apream.nt for, inter thy, the rights of preparye ont and the eouten of
payment of the principal of and Interest on this Purchase Money Promissory Note. '
CYPRESS R EDEVEi 0 WENT AGENCY
063
064
EXHIBIT B
RE- ENTERED LOAN
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9437156.1 x0170116
ABTA= AND R -INTE1 ED
WtPAYMEPIT AGREEMENT
This RESTATED AND RE- ENTERED REPAYMENT AGREEMENT ("Reeteted
Agreement") is entered into this 22nd day of May, 2012, by and between the QTY OF
CYPRESS, a charter city of flee State of Calitimnia and atmiaipal corporation, adding and
operating ®der the Cation of the State of California C""), and the CITY OF CYPRESS
in its capacity es the S anssor Agency ("Successor Agency") to the diseolved Cypress
Redevelopment Agency ("RDA"), end bas been approved by the Oversight Board to the
Snooemor Agency to the dissolved RDA CsO,oraight Board") by adoption of Oversight Board
Resolution No. OB 4.
BBSITg��
A. City is a Chlittu nia charter city and rannicipel corporation operating under the
Caution of the State of California.
H. RDA was a public body, corporate and politic, araeaieiag govermmxnal functions
and powers under the Community pity Redoveloprmeant Law, Health and Safety Code Section 33000
et seq. ("CRL").
C. RDA was established to exat tae and undertake redevelop activities tbr
purposes of implementing the Redevelopment Plan for the RDA's Redeveloptnaut Project Areas.
D. Under the CL, the City had the express authority to provide RDA with financial
assistance far purposes of irnplanenting redevelopment activities (see„ e.g., Health mood Safety
Code Sections 33220, 33600, 33601, 33610, 33614; gee ciao Govanmama Code Section 53600 et
seq.).
E. Pmnaaat to the authority granted under the CRL, the City and RDA entered into
that email Repayment Agreement, dated March 23, 2009, a copy of which is attached to this
Restated Agreement as Bxblbit "A" and incorporated herein by this reference ("Repayment
P. On or abort January 10, 2011, the Governor of Califeasia first proposed ea pact of
his 2011 -12 budget proposal the dlaeoludan of redevelopment agencies.
O. Pennant to Assembly Bill 26 frau the 2011 -12 Piat Extraordinary Seaman ofthe
California Legislators rABx1 26"), emoted es a bill related to the 2011 -12 Budget Act in June
2011, as modified by the California Supremo Court Decision in CCa tf nda Reds
Association v. Afedolantos (2011) 53 CaLe 231, all redevelopment agencies in California were
dissolved on Pebruary 1, 2012.
H. Punauant to Health and Safety Code Section 34173(a) end (b), added by Mel 26,
the City, as the Successor Agency to the RDA, aanmad on February 1, 2012, all authority,
rights, power, dam, and obligations ley vested with the RDA, except for those
provisions of the CRL that were repealed, reatrlsaed, or revised pureeing to Part 1.85 of Dlvbaioa
24 of the Health and Safety Code.
00e407604Wi
MYICJ 01t1M2
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066
L Pungent to Health and Seibty Code Section 34179, added by Mel 26, members
of the Ord Bard of the Successor Agcacy to the former RDA have been duly appointed.
L Pureteant to Health sod Sedety Code Scotian 34178(a), added by ABxl 26.
commencing an Febxoacy 1, 2012, agreements between the city, may, or city and cranky that
created tae redevelopment agency and the radevaiopmea# agency wane deemed to be not binding
on the euooseror cogency; provided, however, that under Health and Safety Code Sections
34178(x) and 34180(h). the Oversight Board Les the authootity to approve, et the regune of the
Successor Agency, the enWog of re-e taring into avenne is with the city, county, or city and
oasmty that foamed the format redevelopment agency.
�. Puraesnt to Health and Salty Code Sections 34178(a) and 341B00), the City, in
its capacity as a municipal corporation and its capacity u the Successor Agency, mks to restate
and re-enter into the Repayment Agreement. as set %rth 1a this Restated Agreement.
L. Because sufficiaot cash Bowe off nner ptapeaty tax increment (now defined by
ABU 26 as property taxes) evert if the Repay Ageoement ware not rejected as an
anfim sable obligation by DOF, would not be available to pay off the debt evidenced by the
Repqment Ageesm&nt when such debt is schethded In mature on hoe 30, 2012, the Restated
Agreement t restates the ootalmding prioclpal balance [with interest accruing at the ate of retu n
on investments in the Local Agency laywomen' Fated (" LAIF")] and a zepme memt schedule
calling fbr an annual repayment of two maim' a dollar (52,000,000) plus applicable inborvet and
continuing until June 30, 2024, and a final principal repayment of one minion erne Itemized
S IAM thou rand dollars (51,116,000) plus apldloable harem on June 30, 2025.
hl. At its meedng of idly 13, 2012, the Oversight Board adopted Resolution No. OB
4 approving the reentering into the Repaymet Agreement and the terns of this Restated
ASiBEBME�3�
Breed upon the faesgoing Recitals, which are incoeporated herein by this r ihrenoe, and
for good end valuable consideation, the receipt and sufficiency of which is hereby
acimowledgcd. CSt► and Successor Agency agree to follows:
1. Balfingliaglaillefill82Alumfa Sobjact to the Tana and condition in this
Restated Agreement, City, he its oepaoity as a nemiripal oorparadar and as the Successor
Agency. hereby cantatas and reenters into the Repayment Agreement with the re- armed terms
sat ihrth in the Rratsted and Re-Entazcd Repayment Note attached hereto as MOIR and by
this reference iceorporsted herein. Except as modified by this Restated Agreement. the tame
and conditions of the Repayment Agreement shall remain in full three and effect.
2. Beenevadlon of Alba The City, in its capemity as a memieipel corpoeation and as the
Successor Agency, hereby reserves any and all rights, end does not waive any rights which it
my now or In the ft dare haver for repayment under the Repayment Agcae melt, including but
Dot limited to the tight to roeeive repayment coder the orating Repayment Agaennent as may he
audhortaed pursuant to any carted or enure taw, amendment to ABxl 26, admhdstrative sir
judicial decision, or otherwise.
.awroh.
ser*1.1 teem
3. Bffigltelhag. Thta Restated Agreement she be etSettve only upon the oval ofthe
Oversight Boers. If the city, in its opacity as a municipal caeportatioc and es the Successor
Agency, has not approved. this Negated Agreement prior to the approval of the Oversight Hoard,
then dui City may wren this Restated Agreement by ratlfioation thezeof at a duly noticed
public meeting ofthe City CoandL
4, Citadieggoaddigufsglign. The City Manager shall have the authority to enatte ouch
other and Sam agreements and documents, and tale smell other and Sather salons, necessary
to implement nt this Restated Agreement an behalf of the City, in iss capeeity at a charter city of
the State of Califca:afa aced a mamidpal eceporatloa, and on behalf ofthe City in its capacity u
the Saccesaes Agency.
IN Wm BSS WHEREOF, the City, in its (opacity as a dozier city of the !Susie of
California and a municipal corpoaation, and the City in its capacity as the Successor Agency,
enters hutO lids Restated Agreement ms of the data Brat set forth above.
"City"
CITY OP CYPRESS, in ita capacity as chutes city
of the Stab of Califteel* and a municipal
corporation
Sv,
ATTEST:
IOe-tat- Px�.�oRam
City Clerk
"Successor Agency"
CITY' OF CYPRESS, snits opacity as
the Successor Agency to the dissolved CYPRESS
REDEVELOPMENT AGENCY
ATTEST: At p
Secretary of the Successor AVM
ermM+swrm,
IOWA WI/17M
067
068
EXHIBIT 'A"
REPAYMENT AGREEMENT
This Repayment Agmament is entered into es of the EBrd doge of March 2009. by and
between the Cypreee Radsyslapment Agency, • Cubic body corporate and politic (the
'Agency") and the City of Cypress, a pubic body corporate and politic (the "City).
RECITALS
A. Wherein, the City and Agency would Aloe to consolidate alt outstanding notes
between the Agency and City to a single note es of July 1, 2009, and
B. Sufficient cash flaws will not be available to pay off the outstanding notes as of July
1, 2009, and
C. Al accrued Interest associated with the seven notes cumentfy outstanding wit be
paid by the Agency to the City on June * 3009, and
D. Whereas, the City and Agency would iliac 10 formally reissue $42.6 minor
($42,500, 000) in notes on July 1, 2009 and establish an applicable interest rate of
five mutant (5%), and
E. The $42.5 million ($42,500,000) In notes are associated with the Agency's three
project areas as follows:
Cho Center $ Z000,000
Lincoln Avenue '$ $,000,000
Los Alamitos Rare Trails $ 32,500,000
NOW, THEREFORE, in consideration of the 10 egohg mute& covenants and ccncitlona
est forth hemp, the parties hereto agree MI MOM
Election 1. The Agency hereby agrees to pay the City as full oonsldeaotion for Ms roan
referred to in the recitals hareinabovi. the total sum Of Forty Two Miicn and Pive
Hundred Thousand Delius (042,500,000) with Interest thereon calculated at a retie of
five percent (5.0% per annum. The Agency's Wootton, hsre�tmder shell be evidenced
by a � archaise M+ MPrarnisectY No6e►'y, hereto and irworpanxtad heroin
Payment of al accrued Interest vidhjespeot to tic ('archers Money Promissory Note
shall be clue annually on June Mr starting on June 30, 2010. Payment of the
outstanding principal with respect to the Puucheaa Money Promissory Note slid be due
on June 30, 3012 unless erdended by mutual agreement the parties hereto.
However, a portion of the outstanding principal wtlt be due at the time the approximately
13 acres of land currently owned by the Agency het been resold and Me Agency he s
sufficient monies to repay the City or at any other time during the term of the Purchase
Money Promissory trots that sufficient monks become a *ilable based on stars
recommendations.
069
The Apsnsy short exeoiti and deliver the Fourche** Money Promissory Note as of iha
der genie esoulbn of this Agreement.
The Agway* ob>igstbn to make payments io the Chy pummel to the
Purchase Money Pronttrsory Note shall be payable solely from (a) properly times
allocated to the Agency from the Project Area in accordance with Health and Safety
Codes Seca= 39670 (r) ("Tax tnannnsnt') but only If end lc the extent Tex Inc mment
is received, or (b) funds test the Agency rash= from the sale of pmperly located h
afw of the erns protect epee and detainees in Ms rote dtsotalon to use to repay said
emaurdss. to the event that there am tnndYbtsnt funds from the SWIM identified
herein to awake the r ubed payments with tower* to the Purchase Money Promissory
Note in the year M which such payments are to be masts, the CV shall meaonabiy
consider but shall not be obligated 10) extend the lure for payment by adding such
amounts to the principal balance evidenced by the Purchase Money Promissory Note
and interest at the rats set forth In the Puruhaee Money Promissory Note.
Section 3. The parties hereto =knowledge and agree MS the Agency* obligation to
pay the amounts svMenced by the Purdue.) Morey Promissory Note shell be
automaflca%y subordinated to any otter ob1IIsticn of the Agency secured by Tax
tncremeut or for which Tax Increment is otherwise pledged in connection with the
issuance of bonde or aertlffcates of pardedpatbn as part of the Impterneniation of the
Redevelopment Plan for the Project Areas.
Section 4. The Agency shall have the tight at any tine, from the to tune, upon al least
ten (10) days wither notice to the City, to prepay without premium or psnelty, the
outstanding Wants of the Punchese Money Promissory Note, or any portion thereof,
with Interest payebte through the date of such prepayment.
;3e*nAThis Agreement ernbodles the entire Agreement understanding between the
panes wrtlh respect to the matters set torh herein and supersedes a!I prior
agreements and understandings related to the ambient matter hereof.
Section p. This Agreement shall terminate when all obligation* of the
evidenced by the Purchase Money Promissory Note shat haw been discharged In
Section 7. in case any one or moss of the pmvisions contained in this Agreement
should be Invalid, illegal or unenforceable In any 'seeped, the vatldlly, legality and
enforoesbtRgr of the remaining provisions contained herein shall not In any way be
effected or Impaired thereby.
8ecllon B. Nc member, officer, agent or employee of the Agency shall be Individually or
persorudly kw minion! td, the prim)* of or Interest on the Purchase Money
Seo tonj. The partlee hereto aciarmNsdgs and spree that the obligations of the
Agency evidenced by the Purohetse Money Promissory Note oonsaluts an
Indebtsdnsss° within the meanbg of Health and Safely Code Section 3$$7o lb).
IN WITNESS WHEREOF, the penes have wooded this Repayment Agreement ae of
the dale first above edam
CITY OF CYPRESS
ATTEST:
n
eitY Clot
CYPIRESS REDEVELOPMENT AGENCY
ATTEST
070
PURCHASE MONEY PROMISSORY NOTE (RDA 1)
*,800•000 0oree3, CA
July1, 2000
The Cy1Orua Redevelopment Agency. a pub,* body corporate and p of tb Oho
'Agency'), for value tusked, hereby promisee to pay to the Ctty of Cygnets, s, public
body oorporats and politic (lhe "City'), the principal raven of Rely Moo titian and Rye
Hundred Thousand (;x,800,000), in tawhd money of the Lk Pod Slates of Amerlos
together we interest thereon on the unpaid bwdsnoe thereof from the date hereof at a
rate equal to the percent (6.0%) per annum. W!h mapsot to tide Purchase Money
Promissory Mote, the AOenoy shall pay al lateral annually on June 301 end the
dares wndraf elegy 1100) day year ands (30) day month.
>8 lens bash of a
This Note is the Purchase Money P Note referred to in the
Agreement dated as of July 1, 2000, bowmen the and the Agency and = in%
all the benefits and is subject to el the limitations provided for therein. Reference w
made to add Agreement for, j,dg„ the rights of prepayment and the sources of
pe4Yment of the principal of and Interest an this Purchase Money Promissory Note.
CYPRESS REDEVELOPMENT AGENCY
071
RESTATED AND RE-ENURED REPAYIVOIliff NOTE
S23,920►000 piss trued Ist*rat
Cypraa, CA
May 22, 2012
The Smeoeaar Agency of the Cypress Redevelopment Agency, a public body empanels end
politic (the "Successor Agency"), for value received, beauty pevonises to pay is the City of
Cypress. puldie body corporate and politic (the Million N Handced Twenty Thousand Dolkni $23,92 fire 00) pins cue: d interest 1 os t Thrace
rune 30, 2012 of One Militan Oas Hundred tom." -Six .o11n ,19 through
lawfd money of to United States of Medea d Thousand Others (an the unpaid
In
together with interest thereon an the unpaid
Inhume thereof commencing July 1, 2012, at a rate egad to amount earned on the State 's Load
Agency investment And (LAIF) per sanuem. With respect to this Restated and RaBnta ed
Repayment Note, the Successor Agency shall pay Two Million Dollars ($2,000,000) of principal
(which includes the accrued interest as of hme 30, 2012 amortised over the tarn of this Note),
plus interest thereon at the LAID ate, ammalbr on Jane 306 for the podod Ilene 30, 2013 through
June 30, 2024 The reed One Mlion One Hundred Sitdeen Thousand ($1,116,000) of
principal and interest will be paid on Jame 30, 2025. Interest ebell be competed upon the basis of
a
tom b nthed sixty (360) day year and a thirty (30) day month.
This Note is the Restated and Re-Eatetad Repayment Note teamed to in dee Repayment
to benefits and is subject to all limitations and the Suoaesear Agency sand is entitled
acid � f _alum the right of prepayment and s of payment o is made to
principal of and batmest on thin Resisted and Ra-B of thr
Agency ding not be liable Lot Note. The bussed to
any payment haaei:tdar accept from property hexes disbursed to
the Suooeetor Agency by the County Auditor- Controller as a melt of the indebtedness
evidenced by We Note head boat approved ar deemed approved as an 'enforceable
obligation" as set tank in Hesla & Seta() Cede Section 34177 and other applicable provision of
Inv, including Past 1,85 of the Community Redevelopment Law.
CITY OP CYPRESS AS SUCCESSOR AGENCY
TO THE DISSOLVED CYPRESS
Ri VELOP/v1ENPAOBNCY
By -411,
Mnyor, of Cypress As Successor Agency to
the Dissolved Cypress Redevelopment Agency
esonnsaear
34$111T4 AZIM2
072
EXHIBIT C
LAND
DESCRIPTION
680;017943 -0033
943"154.1 403!0046
073
074
When Recorded Mail To:
City of Cypress
5275 Orange Avenue
Cypress, California 90630
Attu: City Clerk
The undersigned to (e) declare(a) that this transaction is
mumrpt front flue payment of a documentary trap shr tax
pursuant to Revenue and Taxation. Code Seeder 11922.
APNs:
241-091 -22
241491-23
241 - 091 -24
241- 091 -25
241- 091 -26
This document is being recorded Air the benefit
of the City of Cypress and is 40:0E 2p1 from
payment of a recordation fee pursuant. to
Qoventurant Cade 4¢27383 and 6103.
QUITCLAIM DRED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
CYPRESS REDEVELOPMENT AGENCY, a public body, corporate and politic ("Grantor").
Does hereby remise, release and forever quitclaim to the CITY OP CYPRESS, a charter city and
municipal corporation ("Grantee "), aU of Grantor's tight, title and interest in and to certain real
property described located in the City of Cypress, County of Orange, State of California,
described in the legal description attached hereto as Exhibit "1" and incorporated herein by this
reference (the "Property").
Grantor's conveyance of the Property is further subject to the Ibilowing covenants and
restrictions as required by the Community Redevelopment Law, Health and Safety Code section
33000 et seq. (the "CRL"):
1. In addition to any other nondiscrimination provisions applicable to the Property
under federal, state or local law, the following nondiscrimination provisions apply:
(a) There shall be no discrimination against, or segregation d any persons, or
group of persons, on account of any basis listed in subdivision (a) or (d) of Section 12955 of the
Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (nn) and
paragraph (1) of subdivision (p) of Section 12955, and Section 12955.2 of the Government Code,
in the sale, lease, or rental, or in the use, occupancy, or enjoyment of the Property, nor shall
Grantee itself or any person claiming under or through it; establish or permit any such practice
or practices of discrimination or segregation with reference to the selection, location, number,
use or occupancy of tenants, lessees, subtenants, sublessees, or vendces of the Property or any
portion thereof The foregoing covenants shall net with the Property and shall remain in enact
in perpetuity,
3awa17944 0004
115900.02 a03/07/11
(b) Notwithstanding subsec:don (a) above, with respect to familial status,
subsection (a) above shall not be constnred to apply to housing for older persons, as defined in
Section 12955.9 of the Government Code. With respect to familial status, nothing in
subsection (a) above shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and
799.5 of the Civil Code, relating to housing kr senior citizens. Subdivision (d) of Section 51
and Section 1360 of the Civil Code and subdivisions (n), (o), and (p) of Section 12955 of fhs
Government Code, shall apply to subsection (a) above.
2. All deeds, leasers or contracts for the sale or leasing of the Property or any interest
therein shall contain or be subject to substantially the following nondiaaiminatlon or
nonsegregation clauses:
form:
2.1 juin& In deeds, language shall appear in substantially the Blowing
(a) "The grantee hcresitt covenants by and for ltmnetf or herself; his or her
heirs, executors, administratacs and assigns, and all pavans claiming under or through him or
beer, and this lease is made and accepted upon and subject to the following conditions: There
shall be no discrimmination against or segregation of say person or group of persons on account of
any basis listed is subdivision (a) or (d) of Section 12955 of the Government Code, as those
bases are defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of
subdivision (p) of Section 12955, and Section 12955.2 of the Government Cade, in the sate,
leasing, subleasing, transferring, use, occupancy, tenure or enjoyment of the premises heroin
leased nor shall the lessee himself or herself or any person claiming under or through him or her,
establish or permit any such practice or practices of discrimination or segregation with refaxeace
to the selection, location, number, use or occupancy of tints, lessees, sublessees, subtenants or
vcndees in the premises heroin conveyed. The foregoing covenants shall nun with the land."
(b) " Notwithstanding subsection (a) above, with respect to familial status,
subsection (a) above shall not be construed to apply to housing for older persons, as defined in
Section 12955.9 of the Government Code. With respect to familial status, nothing in
subsection (a) above shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and
799.5 of the Civil Code, relating to housing far senior chisels. Subdivision (d) of Section 51
and Section 1360 of the Civil Code and subdivisions (n), (o), and (p) of Section 12955 of the
Government Cote, ahail apply to subsection (a) above."
form:
2.2 lit leases. in leases, language shall appear in substantially the following
(a) "The lessee herein covenants by and for himself or herself, his or her heirs,
executors, administrators and assigns, and all pawns claiming under or through him or heir, and
this lease is made and accepted upon and subject to the following conditions: Thane shall be no
discrimination against or segregation of any person or group of persons on account of any basis
listed in subdivision (a) or (d) of Section 12955 of the Government Code, as those bases are
defined in Sections 12926, 12926.1, subdivision (m) and paragraph (1) of subdivision (p) of
Section 12955, and Section 12955.2 of the Goverltmcnt Code, in the leasing, subleasing,
tramarfbrring, use occupancy, tenure or enjoyment of the premises herein leased nor shall the
Imam himself or herself, or any person claiming under or through him or ha, establish or permit
any each practice or practices of discrimination or segregation with reference to the selection,
39410179444004
1199110,02 a18/07)11
-2-
075
location, number, use or occupancy of tenants, lessee's, sublessees, subtenaatas or vendees in the
prenises herein leased,"
(b) `Notwithstanding subsection (a) above, with respect to familial status,
subsection (a) above shall not be construed to apply to housing for older parsons, as defined in
Section 12955.9 of the Government Code. With respect to status, nothing in
subsection (a) above shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and
799.5 of the Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51
and Section 1360 of the Civil Code and subdivisions (n:), (o), and (p) of Section 12955 of the
Government Code, shall apply to subsection (a) above."
2.3 In contracts pertaining to the sale, transfer or teasing of the land or any
interest them, language shall appear in substantially the following form:
(a) "There shall be no discrimination against or segregation of any person
or group of persons on account of any basis listed in subdivision (a) or (d) of Section 12955 of
the Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m)
and paragraph (1) of subdivision (p) of Section 12955, and Section 12955.2 of the Government
Code„ in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the premises,
nor shall the transferee himself or herself or any parson claim' under or through him or her,
establish or permit any such practice or practices of discrimination or segregation with ref rence
to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or
vcndees of the land. The foregoing provisions shall be binding upon and shall obligate the
contracting party or parties and any subcontracting party or parties, or other transferee, under the
contract."
(b) ` Notwithstandinng subsection (a) above, with respect to familial status,
subsection (a) above shall not be construed to apply to housing for older perms, as defined in
Section 12955.9 of the Government Code. With respect to familial status, nothing in
subsection (a) above shall be construed to affect Sections 51.2, 51.3, 51.4, 51.10, 51.11, and
799.5 of the Civil Code, relating to housing for senior citizens. Subdivision (d) of Section 51
and Section 1360 of the Civil Code and subdivisions (n), (o), and (p) of Section 12955 of the
Government Code, shall apply to subsection (a) above."
3. The covenants and restrictions in this Quitclaim Deed shall bind Grantee and its
successor in interest to the Property or any portion thereof.
3941017944-0004
i IS963Q.Q2.0@./77
[ NI3 --- SIGNATURES ON NEXT PAGE]
-3-
076
ATTEST:
"GRANTOR"
llut-wt etta.4.4i
Agency Secretary
APPROVED AS TO FORM
RUTAN & TU
ATTEST:
"GRANTEE"
Agency Stxzetary
APPROVED AS TO FORM
ALESHIRE WYNUER, LLP
City Attorn
]99A179440004
11S960.02 103/07/11
[END OF SIGNATURES]
-4-
077
State of California )
County of Change )
On f YLre. a/ 4Z 1 , before me„ - 101-1,X. ''.5.7051/12-111 , Notary Public,
Owe inset neve personally a 1-0h41. 5 and title of the
who proved to me on the basis of satisfactory evidence to be the peso whose .name) -ie%d
subscribed to the within instrument, and acknowledged to me that hchafrithef executed the aline
is his/lser /th r authorized capacit3 (*), and that by nignature, s) on the instrument the
personns , or the entity upon behalf of which the pe srmfii executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct
WITNESS my hand and official seal.
Signabxre tik pt ort,Ative)
State of California
County of Orange
)
)
On , before me, terry Public,
these Insert acme and title old* officer)
personally appeared
who proved to me on the basis of satisfactory evidence to be the a I. whose name(s) is/are
subscribed to the within instrument, and acknowledged to me that , 1, .2/they executed the same
in his/her/'their authorized capacity(ie s), and that by his/her/their a :. e(s) on the instrument the
person(s), or the entity upon behalf of which the person(s) , M' • et touted the instrument.
I certify under PENALTY OP PERJURY under aws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature
39410179440004
1134830SO .0310711
_5-
078
=EMIT "I»
TO QUITCLAIM DEED
GALDE€CRIPTION
That cratain real property located in the City of Cypress, County of Orange, State of California
legally deer ribed as follows:
PARCEL A:
PARCEL 7 OF PARCEL MAP 96 -121, IN THE C1TY OF CYPRESS, COUNTY OF
ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP FILED IN BOOK 298,
PAGE(S) 13 TO 16 INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY
RECORDER OF ORANGE COUNTY, CALIFORNIA.
PARCEL 13:
APPURTENANT EASEMENTS TO USE, MAINTAIN, OPERATE, ALTER, REPAIR,
REPLACE, RECONSTRUCT AND INSPECT THE UTILITIES, AS SAID EASEMENT I5
SET FORTH IN THAT CERTAIN RECIPROCAL UTILITIES EASEMENT AGREEMENT
RECORDED JULY 31, 1991, AS INSTRUMENT NO. 91-404179, OF OFFICIAL RECORDS.
PARCEL C:
AN APPURTENANT EASEMENT FOR STORM DRAINAGE, AS SAID EASEMENT IS SET
FORTH IN THAT CERTAIN GRANT OF DRAINAGE EASEMENT RECORDED
SEPTEMBER 11, 1990, AS INSTRUMENT NO. 90- 482118. AS AMENDED BY THAT
CERTAIN AMENDMENT TO DRAINAGE EASEMENT RECORDED JANUARY 18, 1991,
AS INSTRUMENT NO. 91- 026004, AND ALSO AS AMENDED BY THAT CERTAIN
GRANT OF EASEMENTS AND AGREEMENT REGARDING DRAINAGE EASEMENT
RECORDED JUNE 3, 1997, AS INSTRUMENT NO. 19970253674, ALL OF OFFICIAL
RECORDS.
PARCEL D:
PARCEL 8 OF PARCEL MAP NO. 96 -121, IN THE CITY OF CYPRESS, COUNTY OF
ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP FILET) TN BOOK 298,
PAGE(S) 13 TO 16 INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY
RECORDER OF ORANGE COUNTY, CALIFORNIA.
PARCEL E:
APPURTENANT BASEMENTS TO USE, MAINTAIN, OPERATE, ALTER, REPAIR,
REPLACE, RECONSTRUCT AND INSPECT THE UTILITIES, AS SAID BASEMENT IS
M*11794+44104
1159130.02 s03/97111
6
079
SET FORTH IN THAT CERTAIN RECIPROCAL UTILITIES EASEMENT AGREEMENT
RECORDED JULY 31, 1991, AS INSTRUMENT NO 91- 404179, OF OFFICIAL RECORDS.
PARCEL F:
AN APPURTENANT BASEMENT FOR STORM DRAINAGE, AS SAID EASEMENT IS SET
FORTH IN THAT CERTAIN GRANT OF DRAINAGE EASEMENT RECORDED
SEPTEMBER. 11, 1990„ AS INSTRUMENT NO. 90- 482118. AS AMENDED BY THAT
CERTAIN AMENDMENT TO DRAINAGE EASEMENT RECORDED JANUARY 18, 1991,
AS INSTRUMENT NO. 91- 026004, AND ALSO AS AMENDED BY THAT CERTAIN
GRANT OP EASEMENTS AND AGREEMENT REGARDING DRAINAGE EASEMENT
RECORDED JUNE 3, 1997, AS INSTRUMENT NO. 19970253674, AIL OF OFFICIAL
RECORDS.
PARCEL G:
PARCEL 9 OF PARCEL MAP NO. 96 -121, IN THE CJTY OF CYPRESS, COUNTY OF
ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP FILED IN BOOK 298,
PAGE(S) 13 TO 16 INCLUSIVE, OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY
RECORDER OF ORANGE COUNTY, CALIFORNIA.
PARCEL H
APPURTENANT BASEMENTS TO USE, MAINTAIN, OPERATE, ALTER, REPAIR,
REPLACE, RECONSTRUCT AND INSPECT THE UTILITIES, AS SAID EASEMENT IS
SET FORTH IN THAT CERTAIN RECIPROCAL UTILITIES EASEMENT AGREEMENT
RECORDED JULY 31, 1991, AS INSTRUMENT NO. 91-404179, OF OFFICIAL RECORDS.
PARCEL I:
A NON- EXCLUSIVE, PERPETUAL EASEMENTS FOR PEDESTRIAN AND VEHICULAR
ACCESS AND FOR INSTALLATION AND MAINTENANCE PURPOSES, AS SAID
BASEMENT IS SET FORTH IN THAT CERTAIN ACCESS AND UTILITY EASEMENT
AGREEMENT RECORDED SEPTEMBER 11, 1990 AS INSTRUMENT NO. 90- 482112, AS
AMENDED BY THAT CERTAIN AMENDMENT TO ACCESS AND UTILITY EASEMENT
AGREEMENT RECORDED JANUARY 18, 1991, AS INSTRUMENT NO. 91- 025992, ANY
AS FURTHER AMENDED BY THAT CERTAIN SECOND AMENDMENT RECORDED
OCTOBER 9, 1997, AS INSTRUMENT NO. 19970507990, ALL OF OFFICIAL RECORDS.
PARCEL J:
AN APPURTENANT EASEMENT FOR STORM DRAINAGE, AS SAID EASEMENT IS SET
FORTH IN THAT CERTAIN GRANT OF DRAINAGE EASEMENT RECORDED
SEPTEMBER 11, 1990, AS INSTRUMENT NO. 90.482118. AS AMENDED BY THAT
CERTAIN AMENDMENT TO DRAINAGE EASEMENT RECORDED JANUARY 18, 1991,
AS INSTRUMENT NO. 91- 026004, AND ALSO AS QED BY THAT CERTAIN
394 017944400s
1 t89113O.02 43101111
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080
081
GRANT' OF EASEMENTS AND AGREEMENT REGARDING DRAINAGE EASEMENT
RECORDED JUNE 3, 1997, AS INSTRUMENT NO, 19970253674, ALL OF OFFICIAL
RECORDS.
APIA: 2A1-091-22 and 241-091-23 nod 241 - 091 -24 and 241 - 091 -25 and 241- 091 -26.
3944917944.0004
1199930.03 f0i107111 -8-
RTIFICATE OF ACCEPTANCE
This to certify that the interest in real paopaty and other intaneste conveyed by the ®oing
Quitclaim Deed, dated March 8, 2011, from the Cypress Redevelopment Agency, a public body,
corporate and politic ("Gnuttof , to the City of Cypress, a abater city and municipal corporation
t"Granten is hereby accepted by the undersigned officer of the Grantee City of Cypress, on
behalf of the Grantee City of Cyprese , pursuant to authority confetrred by Resolution No. 554 of
the City Council of the City of Cypress adopted on February 23, 1965, and the Grantee City of
Cypress, consents to the recordation thereof by its undersigned duly authorised offer.
ATTEST:
I(0-4ye- Ikatt,.'sel
City Clerk
State of California )
County of Orange )
On nlittettel %,,V.11 ,before me, Dttl far- rr , Notary Public,
en (hue py�
UO1 1.7 - rme.nd tine of the officer)
who proved to me on the basis of satisfactory a vidcnnce to be the person(erwhose name s'j ishoin
subscribed to the within instrument, and acknowledged to me that he/tilltitke5 executed the same
in h is/t t heir authorized capaedtyOrs), and that by histlyrttliait signature a) on the instrument the
pt son f), , or the entity upon behalf of which the peosonyi acted, executed ed the instrument.
1 c crtify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is tree and correct.
WITNESS my hand and offcial seal.
Signature JOeu 04-61$4411
394401794440004
110830.02 403/07:1 I
9
082