Assignment of Rents 2007-0625816RECORDING REDUESTED RY
FIRST AMERICAN TITLE
Rational Commercial Services
RECORDATION REQUESTED BY:
FIRST REGIONAL BANK
970 W. 190th Street, Suite 400
Torrance, CA 90502
WHEN RECORDED MAIL TO:
FIRST REGIONAL BANK
South Bay Real Estate
970 W. 1901h Street, Suite 400
Torrance, CA 90502
r
THE ORIGINAL OF
WAS RECORDED ON SEP 25, 2007
DOCUMENTNUMBER 20070625816
GREGORYJ. SMITH, COUNTYRECORDER
SAN DIEGO COUNTY RECORDER'S OFFICE
TIME: 4:34 PM
ti1CS 1A.Vo iS FOR RECORDER'S USE ONLY
ASSIGNMENT OF RENTS
THIS ASSIGNMENT OF RENTS dated September 20, 2007, is made and executed between Ocean Park
Hotels-PWY, LLC, a California limited liability company, whose address Is 27441 Tourney Road, Suite 220,
Valencia, CA 91355 (referred to below as "Grantor") and FIRST REGIONAL BANK, whose address is 970 W.
190th Street, Suite 400, Torrance, CA 90502 (referred to below as "Lender").
ASSIGNMENT. For valuable consideration, Grantor hereby assigns, grants a continuing security Interest in,
and conveys to Lender all of Grantor's right, title, and Interest in and to the Rents from the following
described Property located in San Diego County, State of California:
See Attached Exhibit "A", which is attached to this Assignment and made a part of this Assignment as if
fully set forth herein.
The Property or Its address Is commonly known as NEC of Scripps Poway Parkway and Stowe Drive,
Poway, CA 92074.
This is an absolute assignment of Rents made in connection with an obligation secured by property
pursuant to California Civil Code section 2938.
THIS ASSIGNMENT IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE
OF ANY AND ALL OBLIGATIONS OF GRANTOR UNDER THE NOTE, THIS ASSIGNMENT, AND THE RELATED
DOCUMENTS. THIS ASSIGNMENT IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
PAYMENT AND PERFORMANCE, Except as otherwise provided in this Assignment or any Related Documents,
Grantor shall pay to Lender all amounts secured by this Assignment as they become due, and shall strictly
perform all of Grantor's obligations under this Assignment. Unless and until Lender exercises its right to collect
the Rents as provided below and so long as there is no default under this Assignment, Grantor may remain in
possession and control of and operate and manage the Property and collect the Rents, provided that the granting
of the right to collect the Rents shall not constitute Lender's consent to the use of cash collateral in a bankruptcy
proceeding.
GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that:
Ownership. Grantor is entitled to receive the Rents free and clear of all rights, loans, liens, encumbrances,
and claims except as disclosed to and accepted by Lender in writing.
Right to Assign. Grantor has the full right, power and authority to enter into this Assignment and to assign
and convey the Rents to Lender.
ASSIGNMENT OF RENTS
Loan No: 9750406 (Continued) Page 2
No Prior Assignment. Grantor has not previously -assigned or co 7hha RRents-to-any-otherperson-b
any instrument now in force.
No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantor's rights
in the Rents except as provided In this Assignment.
LENDER'S RIGHT TO RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even
though no default shall have occurred under this Assignment, to collect and receive the Rents. For this purpose,
Lender is hereby given and granted the following rights, powers and authority:
Notice to Tenants. Lender may send notices to any and all tenants of the Property advising them of this
Assignment and directing all Rents to be paid directly to Lender or Lender's agent.
Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and
receive from the tenants or from any other persons liable therefor, all of the Rents; Institute and carry on all
legal proceedings necessary for the protection of the Property, Including such proceedings as may be
necessary to recover possession of the Property; collect the Rents and remove any tenant or tenants or other
persons from the Property.
Maintain the Property. Lender may enter upon the Property to maintain the Property and keep the same in
repair; to pay the costs thereof and of all services of all employees, Including their equipment, and of all
continuing costs and expenses of maintaining the Property in proper repair and condition, and also to pay all
taxes, assessments and water utilities, and the premiums on fire and other insurance effected by Lender on
the Property.
Compliance with Laws. Lender may do any and all things to execute and comply with the laws of the State
of California and also all other laws, rules, orders, ordinances and requirements of all other governmental
agencies affecting the Property.
Lease the Property. Lender may rent or lease the whole or any part of the Property for such term or terms
and on such conditions as Lender may deem appropriate.
Employ Agents. Lender may engage such agent or agents as Lender may deem appropriate, either in
Lender's name or in Grantor's name, to rent and manage the Property, including the collection and
application of Rents.
Other Acts. Lender may do all such other things and acts with respect to the Property as Lender may deem
appropriate and may act exclusively and solely in the place and stead of Grantor and to have all of the
powers of Grantor for the purposes stated above.
No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and the fact
that Lender shall have performed one or more of the foregoing acts or things shall not require Lender to do
any other specific act or thing.
APPLICATION OF RENTS. All costs and expenses incurred by Lender in connection with the Property shall be
for Grantor's account and Lender may pay such costs and expenses from the Rents. Lender, in its sole
discretion, shall determine the application of any and all Rents received by it; however, any such Rents received
by Lender which are not applied to such costs and expenses shall be applied to the Indebtedness. All
expenditures made by Lender under this Assignment and not reimbursed from the Rents shall became a part of
the Indebtedness secured by this Assignment, and shall be payable on demand, with interest at the Note rate
from date of expenditure until paid.
FULL PERFORMANCE. If Grantor pays all of the Indebtedness when due and otherwise performs all the
obligations imposed upon Grantor under this Assignment, the Note, and the Related Documents, Lender shall
execute and deliver to Grantor a suitable satisfaction of this Assignment and suitable statements of termination of
any financing statement on file evidencing Lender's security interest in the Rents and the Property. Any
termination fee required by law shall be paid by Grantor, if permitted by applicable law.
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's
k
ASSIGNMENT OF RENTS
Loan No: 9750406 (Continued) Page 3
interest in the Property or if Grantor fails to comply wit ani prcvtsfion-o"hi"ssignment—orany—Related
Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor is
required to discharge or pay under this Assignment or any Related Documents, Lender on Grantor's behalf may
(but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to
discharging or paying all taxes, liens, security Interests, encumbrances and other claims, at any time levied or
placed on the Rents or the Property and paying all costs for Insuring, maintaining and preserving the Property.
All such expenditures incurred or paid by Lender for such purposes will then bear Interest at the rate charged
under the Note from the date Incurred or paid by Lender to the date of repayment by Grantor. All such expenses
will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added
to the balance of the Note and be apportioned among and be payable with any installment payments to become
due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C)
be treated as a balloon payment which will be due and payable at the Note's maturity. The Assignment also will
secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which
Lender may be entitled upon Default.
DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Assignment:
Payment Default. Grantor fails to make any payment when due under the Indebtedness.
Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition
contained in this Assignment or in any of the Related Documents or to comply with or to perform any term,
obligation, covenant or condition contained in any other agreement between Lender and Grantor.
Default on Other Payments. Failure of Grantor within the time required by this Assignment to make any
payment for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of
any lien.
Default in Favor of Third Parties. Grantor defaults under any loan, extension of credit, security agreement,
purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may
materially affect any of Grantor's property or Grantor's ability to perform Grantor's obligations under this
Assignment or any of the Related Documents.
Environmental Default. Failure of any party to comply with or perform when due any term, obligation,
covenant or condition contained in any environmental agreement executed in connection with the Property.
False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on
Grantor's behalf under this Assignment or the Related Documents Is false or misleading in any material
respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.
Defective Collateralization. This Assignment or any of the Related Documents ceases to be in full force and
effect (including failure of any collateral document to create a valid and perfected security interest or lien) at
any time and for any reason.
Death or Insolvency. The dissolution of Grantor's (regardless of whether election to continue is made), any
member withdraws from the limited liability company, or any other termination of Grantor's existence as a
going business or the death of any member, the insolvency of Grantor, the appointment of a receiver for any
part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the
commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor.
Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by
judicial proceeding, self-help, repossession or any other method, by any creditor of Grantor or by any
governmental agency against the Rents or any property securing the Indebtedness. This includes a
garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of
Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the
claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of
the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or
forfeiture proceeding, in an amount determined by Lender, in Its sole discretion, as being an adequate
reserve or bond for the dispute. A+—
.
ASSIGNMENT OF RENTS
Loan No: 9750406 (Continued) Page a
Property Damage or Loss. The Property is lost, stolen, Substantially, sold orborrowed-agains .
Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the
Indebtedness or any Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or
liability under, any Guaranty of the Indebtedness. In the event of a death, Lender, at its option, may, but
shall not be required to, permit the Guarantor's estate to assume unconditionally the obligations arising under
the guaranty in a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the
prospect of payment or performance of the Indebtedness is impaired.
Insecurity. Lender In good faith believes itself insecure.
Cure Provisions. If any default, other than a default in payment is curable and if Grantor has not been given
a notice of a breach of the same provision of this Assignment within the preceding twelve (12) months, it may
be cured if Grantor, after receiving written notice from Lender demanding cure of such default: (1) cures the
default within thirty (30) days; or (2) if the cure requires more than thirty (30) days, immediately initiates
steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereafter
continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as
reasonably practical.
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of any Event of Default and at any time
thereafter, Lender may exercise any one or more of the following rights and remedies, in addition to any other
rights or remedies provided by law:
Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the
entire Indebtedness immediately due and payable, including any prepayment fee that Grantor would be
required to pay.
Collect Rents. Lender shall have the right, without notice to Grantor, to take possession of the Property and
collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above
Lender's costs, against the Indebtedness. In furtherance of this right, Lender shall have all the rights
provided for in the Lender's Right to Receive and Collect Rents Section, above. If the Rents are collected by
Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments
received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds.
Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations
for which the payments are made, whether or not any proper grounds for the demand existed. Lender may
exercise its rights under this subparagraph either in person, by agent, or through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any
part of the Property, with the power to protect and preserve the Property, to operate the Property preceding
foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the
cost of the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law.
Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property
exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person
from serving as a receiver.
Other Remedies. Lender shall have all other rights and remedies provided in this Assignment or the Note or
by law.
Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other
remedy, and an election to make expenditures or to take action to perform an obligation of Grantor under this
Assignment, after Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise
its remedies.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this
Assignment, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys'
fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not
ASSIGNMENT OF RENTS
Loan No: 9750406
(Continued)
Page 5
prohibited by law, all reasonable expenses Lender incurs mar in Lenanl Z UP1111vil o,o -------, -- --
for the protection of its Interest or the enforcement of its rights shall become a part of the Indebtedness
payable on demand and shall bear Interest at the Note rate from the date of the expenditure until repaid.
Expenses covered by this paragraph Include, without limitation, however subject to any limits under
applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit,
including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any
automatic stay or injunction), appeals, and any anticipated post -judgment collection services, the cost of
searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal
fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law. Grantor also will pay
any court costs, in addition to all other sums provided by law.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Assignment:
Amendments. This Assignment, together with any Related Documents, constitutes the entire understanding
and agreement of the parties as to the matters set forth in this Assignment. No alteration of or amendment to
this Assignment shall be effective unless given in writing and signed by the party or parties sought to be
charged or bound by the alteration or amendment.
Caption Headings. Caption headings in this Assignment are for convenience purposes only and are not to
be used to interpret or define the provisions of this Assignment.
Governing Law. This Assignment will be governed by federal law applicable to Lender and, to the
extent not preempted by federal law, the laws of the State of California without regard to Its conflicts of
law provisions. This Assignment has been accepted by Lender in the State of California.
Merger. There shall be no merger of the interest or estate created by this assignment with any other interest
or estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written
consent of Lender.
Interpretation. (1) In all cases where there Is more than one Borrower or Grantor, then all words used in
this Assignment in the singular shall be deemed to have been used In the plural where the context and
construction so require. (2) It more than one person signs this Assignment as "Grantor," the obligations of
each Grantor are joint and several. This means that if Lender brings a lawsuit, Lender may sue any one or
more of the Grantors. If Borrower and Grantor are not the same person, Lender need not sue Borrower first,
and that Borrower need not be joined in any lawsuit. (3) The names given to paragraphs or sections in this
Assignment are for convenience purposes only. They are not to be used to interpret or define the provisions
of this Assignment.
No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Assignment unless
such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in
exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a
provision of this Assignment shall not prejudice or constitute a waiver of Lender's right otherwise to demand
strict compliance with that provision or any other provision of this Assignment. No prior waiver by Lender,
nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or
of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required
under this Assignment, the granting of such consent by Lender in any instance shall not constitute continuing
consent to subsequent Instances where such consent is required and in all cases such consent may be
granted or withheld in the sole discretion of Lender.
Notices. Any notice required to be given under this Assignment shall be given in writing, and shall be
effective when actually delivered, when actually received by telefacsimile (unless otherwise required by law),
when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United
States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near
the beginning of this Assignment. Any party may change its address for notices under this Assignment by
giving formal written notice to the other parties, specifying that the purpose of the notice is to change the
party's address. For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's
current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notices
Loan No:9750406
ASSIGNMENT OF RENTS
(Continued)
given by Lender to any Grantor is deemed to be notice given Wo-atl-Grantor .
Page 6
Powers of Attorney. The various agencies and powers of attorney conveyed on Lender under this
Assignment are granted for purposes of security and may not be revoked by Grantor until such time as the
same are renounced by Lender.
Severability. If a court of competent jurisdiction finds any provision of this Assignment to be illegal, invalid,
or unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or
unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified
so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be
considered deleted from this Assignment. Unless otherwise required by law, the illegality, invalidity, or
unenforceability of any provision of this Assignment shall not affect the legality, validity or enforceability of
any other provision of this Assignment.
Successors and Assigns. Subject to any limitations stated in this Assignment on transfer of Grantor's
interest, this Assignment shall be binding upon and inure to the benefit of the parties, their successors and
assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice
to Grantor, may deal with Grantor's successors with reference to this Assignment and the Indebtedness by
way of forbearance or extension without releasing Grantor from the obligations of this Assignment or liability
under the Indebtedness.
Time is of the Essence. Time is of the essence in the performance of this Assignment.
Waive Jury. To the extent permitted by applicable law, all parties to this Assignment hereby waive the
right to any jury trial in any action, proceeding, or counterclaim brought by any party against any other
party.
Waiver of Right of Redemption. NOTWITHSTANDING ANY OF THE PROVISIONS TO THE CONTRARY
CONTAINED IN THIS ASSIGNMENT, GRANTOR HEREBY WAIVES ANY AND ALL RIGHTS OF
REDEMPTION FROM SALE UNDER ANY ORDER OR JUDGMENT OF FORECLOSURE ON GRANTOR'S
BEHALF AND ON BEHALF OF EACH AND EVERY PERSON, EXCEPT JUDGMENT CREDITORS OF
GRANTOR, ACQUIRING ANY INTEREST IN OR TITLE TO THE PROPERTY SUBSEQUENT TO THE DATE
OF THIS ASSIGNMENT.
DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this
Assignment. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in
lawful money of the United States of America. Words and terms used in the singular shall Include the plural, and
the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this
Assignment shall have the meanings attributed to such terms in the Uniform Commercial Code:
Assignment. The word "Assignment" means this ASSIGNMENT OF RENTS, as this ASSIGNMENT OF
RENTS may be amended or modified from time to time, together with all exhibits and schedules attached to
this ASSIGNMENT OF RENTS from time to time.
Borrower. The word "Borrower" means Ocean Park Hotels-PWY, LLC .
Default. The word "Default" means the Default set forth in this Assignment in the section titled "Default".
Event of Default. The words "Event of Default" mean any of the events of default set forth in this
Assignment in the default section of this Assignment.
Grantor. The word "Grantor" means Ocean Park Hotels-PWY, LLC .
Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the
Indebtedness.
Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a
guaranty of all or part of the Note.
Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and :✓
E �
ASSIGNMENT OF RENTS
Loan No: 9750406 (Continued)
Page 7
expenses payable under the Note or is together-Mth—all—renewals of, xtensions of,
modifications of, consolidations of and substitutions for the Note or Related Documents and any amounts
expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Lender to
enforce Grantor's obligations under this Assignment, together with interest on such amounts as provided in
this Assignment.
Lender. The word "Lender" means FIRST REGIONAL BANK, its successors and assigns.
Note. The word "Note" means the promissory note dated September 20, 2007, in the original principal
amount of $11,745,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications
of, refinancings of, consolidations of, and substitutions for the promissory note or agreement.
Property. The word "Property" means all of Grantor's right, title and interest in and to all the Property as
described in the "Assignment" section of this Assignment.
Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan
agreements, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all
other Instruments, agreements and documents, whether now or hereafter existing, executed in connection
with the Indebtedness; except that the words do not mean any guaranty or environmental agreement,
whether now or hereafter existing, executed in connection with the Indebtedness.
Rents. The word "Rents" means all of Grantor's present and future rights, title and interest in, to and under
any and all present and future leases, including, without limitation, all rents, revenue, income, issues,
royalties, bonuses, accounts receivable, cash or security deposits, advance rentals, profits and proceeds
from the Property, and other payments and benefits derived or to be derived from such leases of every kind
and nature, whether due now or later, including without limitation Grantor's right to enforce such leases and
to receive and collect payment and proceeds thereunder.
THE UNDERSIGNED ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS ASSIGNMENT, AND
NOT PERSONALLY BUT AS AN AUTHORIZED SIGNER, HAS CAUSED THIS ASSIGNMENT TO BE SIGNED
AND EXECUTED ON BEHALF OF GRANTOR ON SEPTEMBER 20, 2007.
GRANTOR:
OCEAN PARK HOTELS-PWY, LLC
By:
James M. Flagg, Managerof Ocean Park Hotels-PWY, LLC
ASSIGNMENT OF RENTS
Loan No: 9750406 (Continued) Page 8
CERTIFICATE OF ACKNOWLEDGMENT
STATE OF
�� V ) SS
COUNTY OF L5
On _ ' ( 2-1 20 67 before me, ___ J Ac (NIA J
(here insert name and title of the officer)
personally appeared James M. Flagg, (or proved to me on the basis of satisfactory
evidence) to be the person(sr) whose name(ayis,, Fe -subscribed to the within Instrument and acknowledged to me
that (h�YeMefHrey executed the same in�liy�/her it authorized capacity(ies), and that by,6/her/them signature(S)
on the instrument the person(A), or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
,,
Signature 1L I/Y
JACMTA L ABRAHAM
_01MYCOMM.
Commission • 1503788
Notary Pubk - CoNW)ks
Los Angeles County
Expires Jul 26, 2008
WER PRO WFq,W.6.]1W.Ol]Cap. WlwlfwwW WUW.Ye.IAI. YAI. NRg1Y P.,,wN. CEP E]IR�OIIf R4 ,y
(Seal)
PARCEL A:
PARCEL 2 OF PARCEL MAP NO. 19954, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO PARCEL MAP THEREOF FILED IN THE OFFICE OF
THE COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 21, 2006, AS INSTRUMENT
NO. 2006-0192773 OF OFFICIAL RECORDS.
EXCEPTING THEREFROM THAT PORTION OF SAID PARCEL 2 DESCRIBED AS FOLLOWS:
BEGINNING AT SOUTHWEST CORNER OF SAID PARCEL 2, THENCE ALONG WESTERLY
BOUNDARY OF SAID PARCEL 2, NORTH 01041'30" EAST, 109.79 FEET, THENCE NORTH
88018'30" WEST, 6.00 FEET; THENCE NORTH 01041'30" EAST 72.09 FEET; THENCE
NORTH 88024'04" WEST 41.16 FEET, THENCE NORTH 01035'56" EAST 38.92 FEET;
THENCE SOUTH 88024'04" EAST 62.83 FEET; THENCE INTO A NONTANGENT CURVE OF
RADIUS 61.50 FEET WITH A CENTER AT A BEARING SOUTH 21052'41" WEST, A
DISTANCE OF 12.87 FEET, WITH A DELTA OF 11059'12"; THENCE SOUTH 01035'56"
WEST 215.17 FEET; THENCE NORTH 88019'00" WEST 27.48 FEET TO POINT OF
BEGINNING.
TOGETHER WITH A PORTION OF PARCEL 1 OF SAID PARCEL MAP NO. 19954 DESCRIBED
AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF SAID PARCEL 1, THENCE ALONG THE
EASTERLY BOUNDARY OF SAID PARCEL 1, SOUTH 01035'56" WEST 61.08 FEET, THENCE
NORTH 88024'04" WEST FOR 17.00 FEET, THENCE SOUTH 01035'56" WEST 102.92 FEET;
THENCE NORTH 88024'04" WEST 45.09 FEET; THENCE TO NORTHERLY BOUNDARY OF
SAID PARCEL 1, NORTH 01035'56" EAST 164.00 FEET; THENCE SOUTH 88024'04" EAST
62.09 FEET TO POINT OF BEGINNING.
SAID PROPERTY BEING DESCRIBED AS "PARCEL B" IN A CERTIFICATE OF COMPLIANCE
RECORDED DECEMBER 26, 2006 AS INSTRUMENT N0, 2006-0913338 OF OFFICIAL
RECORDS.
PARCEL B:
AN EASEMENT AND RIGHT OF WAY FOR ACCESS, INGRESS AND EGRESS AND UTILITY
PURPOSES OVER, UNDER ALONG AND ACROSS THAT PORTION OF PARCEL 1 OF SAID
PARCEL MAP NO. 19954 DELINEATED AND DESIGNATED AS "EASEMENT FOR ACCESS,
GENERAL UTILITY AND DRAINAGE PURPOSES FOR PARCEL 2 RESERVED HEREON".
PARCEL C:
A PERPETUAL NON-EXCLUSIVE EASEMENT FOR INGRESS AND EGRESS OF MOTOR
VEHICLES AND PEDESTRIANS, TO PERMIT THE FREE FLOW OF VEHICULAR AND
PEDESTRIAN INGRESS AND EGRESS TO, FROM, OVER AND ACROSS THOSE PORTIONS
OF THE REAL PROPERTY DEFINED IN SECTION i(a) AS THE RESTAURANT PARCEL
NCS -228675 -SD 1 of 2
First American Title Insurance Company National Commercial File No.: NCS -228675 -SD (LG)
Services
Date: September 25, 2007
EASEMENT AREA (SAID EASEMENT BEING FOR THE USE AND ENJOYMENT, COMFORT
AND CONVENIENCE OF ALL TENANTS, CUSTOMERS, EMPLOYEES, SUPPLIERS, INVITEES,
LICENSEES), TOGETHER WITH A NON-EXCLUSIVE EASEMENT FOR PARKING SPACES,
ALL AS CONVEYED, SET FORTH AND DESCRIBED IN THAT CERTAIN RECIPROCAL
EASEMENT AGREEMENT DATED AUGUST 10, 2007, BY AND BETWEEN THE POWAY
REDEVELOPMENT AGENCY, A PUBLIC BODY, CORPORATE AND POLITIC AND OCEAN
PARK HOTELS-PWY, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY,
R^ECORDED�p � ice. . 2007 AS DOCUMENT NO. 2007-
c�� Q X002 14 OF OFFICIAL RECORDS, IN THE OFFICE OF THE COUNTY
RECORDER OF SAN DIEGO COUNTY, CALIFORNIA.
NCS -228675 -SD 2 oft