HomeMy WebLinkAboutAssignment and Assumption Agreement **This document was electronically submitted
to San Luis Obispo County for recording**
2018053341
RECORDING REQUESTED BY: Tommy Gong
San Luis Obispo-County Clerk-Recorder
Fidelity National Title Company 12/31/2018 01:32 PM
theEscrow Order No.: FSLC-0021801061 RFecordedatNT SOUTTHH T:
COOUNUNTY COST CENTER
Titles: 1 Pages: 8
When Recorded Mail Document and Tax Fees:$0.00
Statement To: Taxes: $0.00
City of Arroyo Grande Total: $0 00
214 East Branch Street
Arroyo Grande, CA 93420
Attn: City Clerk
APN/Parcel ID(s): 077-163-044 SPACE ABOVE THIS LINE FOR RECORDER'S USE
The undersigned declares exemption under the following:
Exempt from fee per GC 27388.1 (a)(2):recorded In connection with a transfer subject
to the Imposition of documentary transfer tax.
Assignment and Assumption Agreement
THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
(Additional recording fee applies)
Recording Document Cover Page Printed: 12.28.18 @ 12:36 PM
SCA0000079.doc/Updated: 04.26.18 Page 1 CA-FT-FSLC-01500.076002-FSLC-0021801061
Recording Requested By
And When Recorded Mail To:
City of Arroyo Grande
214 East Branch Street
Arroyo Grande, CA 93420
Attn: City Clerk
' (Space above for Recorder's use)
(Exempt from Recording Fee Per Gov.Code§6103 and 27383)
ASSIGNMENT AND ASSUMPTION AGREEMENT
This Assignment and Assumption Agreement ("Agreement"), is made as of
2ct yn,b�r
? 7- Ao/8(the "Effective Date"), by and among the CITY OF ARROYO
GRANDE, a California municipal corporation ("City"), JOSHUA S. BLAIR AND JAYDYN A.
BLAIR, HUSBAND AND WIFE AS JOINT TENANTS ("Assignor"), and LOYD WENZEL AND
ZENA LAL, HUSBAND AND WIFE AS COMMUNITY PROPERTY WITH RIGHT OF
SURVIVORSHIP ("Assignee").
WITNESSETH:
A. Assignor is the owner in fee of that certain real property located in the City of Arroyo
Grande, County of San Luis Obispo, State of California described in Exhibit "A" attached hereto
and made a part hereof(the "Property").
B. Assignor purchased the property from Matthew G. Maurer and Joanne A. Maurer,
the former owner of the Property(the "Prior Owner").
C. Pursuant to Arroyo Grande Planning Commission Resolution No. 95-1539, which
requires that the Property be restricted for ownership and occupancy by an income-qualified
household, City and the Prior Owner entered into that certain Affordable Housing Agreement,
which was recorded on November 14, 2002, in the Official Records of the County of San Luis
Obispo ("Official Records"), as Instrument No.2002-099222 (the"Original Affordable Housing
Agreement"). The Original Affordable Housing Agreement restricts the Property, for a period of
thirty (30) years, to ownership and occupancy by an income-qualified household, and requires
that the sales price of the Property be consistent with the then-current City Affordable Housing
Standards. By its terms the Original Affordable Housing Agreement runs with the land and is
binding on successor owners of the Property.
D. Pursuant to the terms of Section 2.05 of the Original Affordable Housing
Agreement, in connection with Assignor's purchase of the Property from the Prior Owner, on or
about October 1, 2002, Assignor and City executed that certain Agreement and Promissory Note
Secured by Deed of Trust, which was recorded in the Official Records on November 14, 2002, as
Instrument No. 2002-099223 (the "Agreement and Note"). The Agreement and Note
incorporates by reference the Original Affordable Housing Agreement and, among other
882/029456-0003
13204937.1 a12/28118 1
provisions, requires repayment of the "City Loan" (as defined in the Agreement and Note) on the
occurrence of certain, specified events, including the sale and transfer of the Property to a
household that does not qualify as an income-eligible household, or at a sales price in excess of
the sales price permitted by the Original Affordable Housing Agreement.
E. To secure repayment and performance under the Agreement and Note, Assignor
executed that certain Purchase Money Deed of Trust, Deed of Trust Covenants, Assignment of
Rents, Security Agreement and Fixture Filing, which was recorded in the Official Records on
November 14, 2002, as Instrument No. 2002-099224 (the "Deed of Trust").
F. Assignee is acquiring the Property from Assignor and has met all of City's
requirements to qualify therefor.
G. City will consent to such acquisition provided that Assignee assumes the
obligations of Assignor under the Agreement and Note (which, as indicated above, incorporates
by reference the terms and provisions of the Original Affordable Housing Agreement), and the
Deed of Trust (collectively, the "City Documents") as set forth in this Agreement.
NOW THEREFORE, in consideration of the foregoing Recitals, which are incorporated
herein by this reference, and for other good and valuable consideration, the sufficiency of which
is hereby acknowledged, City, Assignor and Assignee hereby agree as follows:
1. Assignment by Assignor. As of the Effective Date,Assignor assigns all of its rights
and obligations under the City Documents to Assignee.
2. Assumption by Assignee. As of the Effective Date,Assignee assumes and agrees
to be bound by the City Documents. Assignee shall fully and faithfully pay, perform and discharge,
as and when payment, performance and discharge are due, all of the obligations of Assignor
under the City Documents, and each of them.
3. Consent by City. As of the Effective Date, City consents to the transfer of the
Property by Assignor to Assignee. Such consent by City shall not constitute a consent to any
further or subsequent sale, conveyance or transfer by Assignee of the Property, or any part
thereof, or any interest therein.
4. Entire Agreement. This Agreement contains the entire agreement among City,
Assignor and Assignee with respect to the subject matter hereof and supersedes all prior
agreements, understandings, offers and negotiations, oral or written, with respect thereto. This
Agreement shall bind and inure to the benefit of City, Assignor and Assignee and their respective
personal representatives, heirs, successors and assigns. This Agreement shall be governed and
construed in accordance with the laws of the State of California.
5. Counterparts. This Agreement may be executed in two (2) or more counterparts,
each of which shall be deemed an original but all of which together shall constitute but one and
the same instrument.
882/029456-0003 2
13204937 1 a12/18/18
EXHIBIT B
Grantees hereby expressly declare and accept the transfer of the herein
described property as community proper • of survivo hip.
oyd '`'�enzel - ►>'--
IN WITNESS WHEREOF, City, Assignor and Assignee have executed this Agreement as
of the date first hereinabove written.
"City"
CITY OF ARROYO GRANDE, a California
municipal corp• ation
By: =4i ]'
James ergm. , ity Manager
"Assignor" "Assignee"
JOSHUA S. BLAIR AND JAYDYN A. BLAIR, LOYD WENZEL AND ZENA WENZEL,
HUSBAND AND WIFE A JOINT TENANTS HUSBAND AND WIFE AS COMMUNITY
11PROPERTY WITH RIGHT OF
1 SURVIVORSHIP
Y: I/1
.s ua `. Blair / BY•!
► �. Loy• + enzelBY: I�1I Ili (011,1
In211 f
OPP
did;
lair : • '��
�►w� ,,�- a kVikeV Lal
882/029456-0003 3
13204937.1 a12/18/18
A Notary Public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy,
or validity of that document.
State of California )
County of San Luis Obispo )
On QQ7.C'n1ook-z2i- 2-U[g , before me,\.43‹.S -rrk -crn
(insert name and title of the offs )
Notary Public, personally appeared ,\CILICNeS ��CC 1ry 11"1�
who proved to me on the basis of satisfactory evidence id 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.
JESSICA MATSON
Notary Public-California
WITNESS my hand and official seal. _ tea ' San Luis Obispo County
t . f.° Commission#2235281
""° My Comm.Expires Mar 22,2022
Signature (Seal)
A Notary Public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy,
or validity of that document.
State of California )
County of San Lu's Obispo )
On e 0 .20(8 , before m7- ZE.0 41C.l e,
(insert name and title of the officer)
Notary Public, personally speared " 10 - 4
who proved to me on the ba 's of satisfacto vidence to be the person(s)whose name(s) is/are
subscribed to the within instru 'ent and ac. owledged to me that he/she/they executed the same
in his/her/their authorized capa (ies) =nd that by his/her/their signature(s) on the instrument
the person(s), or the entity upon b: of which the person(s) acted, executed the instrument.
I certify under PENALTY F P="JURY under the laws of the tate of California thii the
foregoing paragraph is true a correct.
WITNESS my han and official seal.
Signature (Seal)
882/029456-0003
13204937.1 a12/18/18
,
A Notary Public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy,
or validity of that document.
State of California )
County of San Luis Obispo )
On D , 2 e5 , before me, W. /.g. '�'? ,
(insert name and title of the officer)
Notary Public, personally appeared LYS ili&UZtL R-e.44- Ldt"� ,
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 I • e- - •. -. '.• .. .- tie
foregoing paragraph is true and correct. , "'`,'� , A. ZELIS
p',405,41.!? Commission#2143938
. or Notary Public
WITNESS my hand and official seal. %x / California
4 SAN LUIS OBISPO COUNTY
:'' '":,,,y
"' / My Commission Expires March 23,2020
Signature (Seal)
A Notary Public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy,
or validity of that document.
State of California )
County of San Luis Obispo ) ( o&
rI
On Z$ 20 18- , before me, �" Ia /tn.&DOSS en me and title of the offic
(insert a )
Notary Public, personally appeared T kuc 5.I- lcit.r and ScLY d yn A - 13 tear' ,
who proved to me on the basis of satisfactory evidence to be the person(s)whose name(s) i�
subscribed to the within instrument and acknowledged to me that he/sh=-d. -xecuted the same
in his/her/ uthorized capacity(ies), and that by his/he 1 egnature(s) on the instrument
the person(s), or the entity upon behalf of which the person(s acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature c, LeQ Jlt IANNAV055
/' :;v Notary Public-California z
r W^.. San Luis Obispo County n
`\• f.•°
Commission 41-2231665
.. 4'.""s My Comm.Expires Mar 18,2022
882/029456-0003
13204937 1 a12/18/18
EXHIBIT "A"
LEGAL DESCRIPTION
Parcel 2 of Parcel Map AG 95-068 in the City of Arroyo Grande, County of San Luis
Obispo, State of California, according to the Map filed November 6, 1996, in Book 52, Page 25 of
Parcel Maps
882/029456-0003 4
13204937 1 a12/18/18