Loading...
HomeMy WebLinkAboutRESOLUTIONS - 09132004 - 71-741 IN THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, STATE OF CALIFORNIA In the Matter of Approval of Consent Agreement for Assign- ment of Lease and Mortgage of Navajo Aviation Leasehold RESOLUTION NO. 71/ 741 Interest and Improvements (Buchanan Field Airport The Board of Supervisors of Contra Costa. County RESOLVES THAT: An Agreement entitled "Lessor's Consent to Leasehold Mortgage" between the County, as Lessor; Navajo Aviation, Inc. , as Lessee; Federal Engineering Corporation, as Lender; and Glenn W. Sorensen, as original Assignee, has been presented to this Board. Said agreement provides for the consent of the Lessor in paragraph 4 to assign said lease from Glenn W. Sorensen to Navajo Aviation, Inc . and to hypothecate the leasehold interest and im- provements thereon by loan agreement by and between said Lessee and said Lender secured by a Deed of Trust, pursuant to Section Eighteenth in the lease between. Contra Costa County and Patterson Aircraft Company, dated September 19, 1c,1661. Said lease was subse- quently assigned to Glenn W. Sorensen by Board approval on May 15, 1962 and the sublease thereof was assigned to Navajo Aviation pursuant to Board Resolution No. 3625 on December 22, 1964. IT IS BY THE BOARD ORDERED that said Agreement be and the same is hereby APPROVED and the Chairman of this Board is authorized to execute the consent on behalf of the County of Contra Costa to be delivered to said Lessee for acceptance. PASSED AND ADOPTED on November 9th , 1971 by the following vote of the Board: AXES: Supervisors A. M. Dias, J. E. Moriarty, W. N. Boggess, E. A. 1,inscheid, J . P. Kenny. NOES : None. ABSENT: None. GTD:mrs cc : Recorder (via R/W) Lessee (c/o R/W) Auditor Administrator Airport Manager Public Warks Dept. (R/6' (2) } RESOLUTION NO. 71/741 i LESS CONSENT TO LEASEHOLD MORTGAGE ubdivTHIS AGREEMENT, made this day of v , 1971, between the COUNTY OF CONTRA COSTA, a political sub- division ision of the State of Cali 'ornia Lessor") , NAVAJO AVIATION, INC. , a corporation ("Lessee") , FEDERAL "NGINEERING LORRATION 'a eprporation Mender") ,, and `"W 'SO rgina Assignee") , W I T N E S S E T H; Whereas Lessor owns the real property ("Property") described in Exhibit A, which it leased to Patterson Aviation Co. , pursuant to a written lease, dated December 19, 1961, and the amendments thereto, dated November 1, 1962, March 31, 196 €, November 24, 1964, and November 2,, 1965 (the "Lease") , all recorded concurrently herewith; and Whereas the Original Assignee's interest under the Lease (theLeasehold Estate") was assigned to Lessee by written instrument, dated ,. 1971 (the "Assignment") recorded concurrently herewith; and Whereas Lessee desires to borrow from Lender and Lender desires to loan to Lessee certain funds (the "Loan"), to be secured in part by a first deed of trust (the "Bleed of Trust") on the buildings, improvements and fixtures now or hereafter located on the Property (the "Building"), and the Leasehold Estate; N o w, T h e r e f o r e, in consideration of Lender.; making the Loan to Lessee and of the covenants herein contained, #she parties hereto agree as follows: 1. Lessor certifies to Lender that the Lease is presently in full force and effect and is unmodified; that the lessee 's obligations under paragraph Seventh of the Lease have been fully performed; that Lessee owns the lessee's interest under the Lease; that Lessee is not in default in the payment of rent or in the performance or observance ' - , 11-4-71 ......._ ......... ......... ......... ......... ......... ......_.. 11.11 _ .... ............ ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... ......... _.. ......... ......... of any other covenant or condition to be performed or observed by it as lessee thereunder; and that no event has occurred which authorizes , or which with the lapse of time will authorize, Lessor to terminate the Lease. 2. Lessor acknowledges that Navajo owns the Building and that Lessor neither has nor claims any rights with respect thereto, other than as set Barth in the Lease. 3. Until such time as the Loan and any other obligations secured by the Deed of Trust are paid and performed in full, and the Leasehold Estate has been re- conveyed under the Deed of Trust (the "Loan Payment Date") , the Lease will not be voluntarily canceled (except by the County pursuant to paragraph Twenty Fifth of the Lease , and then subject to Lender's rights referred to in paragraph 4 below) , surrendered, terminated (except in accordance with 1 paragraph Five of this Agreement) , amended, modified , or in any manner altered without Lender's prior written consent which will not be unreasonably withheld. I . 4 . Lessor hereby consents to the Assignment ; the hypothecation of the Leasehold Estate and the Building to Lender, ,including the assignment to Lender of Lessee 's rights under paragraphs Nineteenth and Twenty Fifth of the Lease and under paragraph (1) on page 16 of that certain Instrument of Transfer between Lessor and the United States of America, dated October 2 , 1947 and recorded in book 1137 at page 114 of Official Records , Contra Costa County , California; any assignment of the Loan and Deed of Trust by Lender to a recognized lending institution and any re- assignment thereof to Lender; and the sale, assignment or other transfer of the Leasehold Estate to Lender or Standard Oil Company of California. I 5. Until the Loan Payment Date, Lessor shall give Lender notice of any default under or breach of the Lease and of any other event authorizing the termination thereof, and will not terminate the Lease or take possession of the premises if, within forty-five (45) days after receipt of such notice by Lender, Lender, if it chooses, either: (I) Makes good the default or breach, whether by the payment or expenditure of money or the performance of any other matter or thing required under the terms of the Lease, which payment, expenditure or performance-Lessor ' will accept as though made or performed by Lessee, Lender being subrogated to Lessee ' s rights under the Lease upon so doing; or (ii) Commences and diligently pursues to completiop foreclosure under the Deed of Trust or other appropriate proceedings in the nature thereof or otherwise acquires the Lease- hold Estate with diligence, and keeps and per- forms all covenants and conditions of the Lease requiring the payment or expenditure of money by the lessee thereunder until such time as the Leasehold Estate is so acquired or sold upon foreclosure or other appropriate pro- ceedings in the nature thereof, 6. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their heirs, admini- strators, executors, successors and assigns. The execution of this Agreement shall not in any manner subject Lessor or Lender to any personal liability for the obligations of the lessee under the Lease, or in any manner whatsoever me C)ify the terms and provisions of the Lease, except as provided herein. 7. Notices and other communications hereunder shall be in writing and shall be delivered personally or sent by registered mail, postage prepaid, to the party intended at the address set forth below such partyss name below or at such other address as such party may designate by notice given in the manner aforesaid. IN WITNESS WHEREOF, the parties hereto have executed this greeme�as of the day and year first hereinabove written. Attests COUNTY OF CONTRA COSTA, a political subdivision of the W. T. Paaseh, Clerk State of California, By Deputy The Administration Buildings 651 Pine St_,_._ Martinez., Ca. 94551 FORM APPROVED JOHN B. CLAUSEN CountY C unset B . $Y DEW i Chairman Bd. Super. "Lessor"" NAVAJO AVIATION, 1NC . , a corporation, 145 John Glenn Drive, Concord, California � r 't ,� z z By I Glenn W. Sorensen, Its ice Fres dent ' I'Orlj:�l Assignee" X))CI-7 ftLB a tt M It'k;DLBAL ENGTN1:3E111.N0 CORPOIIA`I'ION, a corporation, 225 Bush Street , San 'raac©,. California STATE OF CAL�FCRSIA ACKNOWLEDGEMENT 9E 9Y C.;r lC AGENCY fis`",,. C014TRA CC3tA CQtifirY (C.C. 1'.91. 11$1. itty4) By ' ' _ , reasurer XRIItYti St7 By IC i :) ... f t F :•t7U ) t-:t� Ci>vrt� rar• u oa hSSii3't'dTiST S�GTtLTA�tp 1h L• r .. a--.,..u.. ,y .J 's.} .i+2i SHL1 ¢;,:iC uCy t1xCC:::Ci1 iris , "Lender" Y:. 3. 'i..sl;:;.GUbay(:1 !A ,.ey;�z4::�..o t`w 4rk u! e;y,YtG Ct Sup4tJlERisYr -3- ................ ..... ..... EXHIBIT A That certain real property situated in the State of California, County of Contra Costal Unincorporated, described as follows : A portion of Rancho Monte Del Diablo, described as follovis : Commencing at point "A" as said point is shown in the resolution of the Board of Supervisors., County of Contra Costa, State of California, in the matter of declaring the airport access road, a county road, dated and recorded- September 21, 1961, In Boo'.t 3957, page 591, of Official Records, instrument No. 6505,6' thence from said point of commencement south 24* 28, 42" nest, 164 feet to the true point of ,beginning" of the hereinafter described parcel of land; thence'-.:�south 240 28, 4211 west 250 feet; thence north 65* 311 18" vest 220 feet; thence north 24* 28t 42" east,' 250 feet; thence south 65' 311 18" east, 220 feet, to the true point of beginning. ...........