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LOEB&
LOEBLLP
June 15, 2022
Theresa Bass, City Clerk
City of Anaheim
200 South Anaheim Blvd. 2nd Floor,
Room 217
Anaheim, California 92805
Re: Notice of Claim
Dear Ms. Bass:
ALLAN J. ABSHEZ
Partner
Two Embarcadero Center
Suite 2320
San Francisco, CA 94111
Via Hand Delivery
Direct 415.903.3227
Main 415.903.3200
Fax 310.919.3982
[email protected]
We are writing on behalf of our client, SRB Management, LLC to provide notice of a claim by it against the City of Anaheim ("City").
1. Name and address of claimant:
2. SRB Management, LLC ("SRB" or "Buyer")
2850 W. Horizon Ridge Parkway #200
Henderson, NV 89052
and
c/o Allan Abshez, Esq.
Loeb & Loeb LLP
Two Embarcardero Center
San Francisco, CA 94111
Date and place of the event from which the claim arises:
SRB's claim arises from the City's May 24, 2022 repudiation of the transaction contemplated by the Amended and Restated Purchase and Sale Agreement ("Amended and Restated PSA") between SRB and the City (which superseded the Purchase and Sale Agreement between the City and SRB dated December 20, 2109 (the "PSA")). The City's repudiation of the transaction contemplated by the Amended and Restated PSA constitutes a default pursuant to section 12. 1 of the Amended and Restated PSA.
Therefore, in accordance with the Amended and Restated PSA, SRB is entitled to recover its "Transaction Costs, not to exceed $5,000,000 (in addition to attorneys' fees) .... "
Section 4.15 of the Amended and Restated PSA provides, "'Transaction Costs' means all out-of-pocket title, escrow, legal and inspection fees and costs actually incurred by Los Angeles New York Chicago Nashville Washington. DC San Francisco Beijing Hong Kong www.loeb.com F0< Iha United Sta1es off,ces, a hm,led l1ab1I 1y partnership 1ncJud1ng p1ofesS10nal corpcra�ons For Hong Kong office a Im led l1a!>il,ty partn.r1h p 22315934 1
225763-10004
CS ITEM #03