Agenda packet — El Centro City Council, June 7, 2022 (part 2 of 2)

1.18 Trustee’s Powers. At any time, or from time to time, without liability therefor and without notice, upon written request of Beneficiary and presentation of this Deed of Trust and the Note secured hereby for endorsement, and without affecting the personal liability of any person for payment of the indebtedness secured hereby or the effect of this Deed of Trust upon the remainder of the Trust Estate, Trustee may (a) reconvey any part of the Trust Estate, (b) consent

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Packet Pg. 293 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 12 in writing to the making of any map or plat thereof, (c) join in granting any easement thereon, or (d) join in any extension agreement or any agreement subordinating the lien or charge hereof.

1.19 Beneficiary’s Powers. Without affecting the liability of any other person liable for the payment of any obligation herein mentioned, and without affecting the lien or charge of this Deed of Trust upon any portion of the Trust Estate not then or theretofore released as security for the full amount of all unpaid obligations, Beneficiary may, from time to time and without notice (a) release any person so liable, (b) extend the maturity or alter any of the terms of any such obligation, (c) grant other indulgences, (d) release or reconvey, or cause to be released or reconveyed at any time at Beneficiary’s option any parcel, portion or all of the Trust Estate, (e) take or release any other or additional security for any obligation herein mentioned, or (f) make compositions or other arrangements with debtors in relation thereto.

1.20 Personal Liability. The loan secured by this Deed of Trust shall be nonrecourse to Beneficiary, and neither the Trustor nor any partner or officer of the Trustor shall have any direct or indirect personal liability for payment of the principal of, or interest on, the Note. The sole recourse of the Beneficiary with respect to the principal of, or interest on, the Note shall be to the Property securing the indebtedness evidenced by the Note; provided, however, that nothing contained in the foregoing limitation of liability shall (a) limit or impair the enforcement against all such security for the Note of all the rights and remedies of the Beneficiary, or (b) be deemed in any way to impair the right of the Beneficiary to assert the unpaid principal amount of the Promissory Note as a demand for money within the meaning and intendment of Section 431.70 of the California Code of Civil Procedure or any successor provision thereto. The foregoing limitation of liability is intended to apply only to the obligation for the repayment of the principal of, and payment of interest on the Promissory Note; nothing contained therein is intended to relieve the Trustor and, if Trustor is a partnership, any general partner of Trustor of liability for (i) fraud or willful misrepresentation; (ii) the failure to pay taxes, assessments or other charges which may create liens on the real property described in the Loan Documents that are payable or applicable prior to any foreclosure under this Deed of Trust (to the full extent of such taxes, assessments or other charges); (iii) the retention of any rental income or other income arising with respect to the Project collected by Trustor after the Beneficiary has given any notice that Trustor is in default to the full extent of the rental income or other income retained and collected by Trustor after the giving of any such notice; (iv) the fair market value as of the time of the giving of any notice referred to in subparagraph (iii) above of any personal property or fixtures removed or disposed of by Trustor other than in accordance with the Loan Documents after the giving of any notice referred to above; and (v) the misapplication of any proceeds under any insurance policies or awards resulting from condemnation or the exercise of the power of eminent domain or by reason of damage, loss or destruction to any portion of the Project; and (vi) breach of any environmental covenant or representation made by the Trustor relating to the Project.

1.21 Indemnity. In addition to any other indemnities to Beneficiary specifically provided for in this Deed of Trust and/or in the Loan Agreement, Trustor hereby indemnifies, and shall defend and save harmless, Beneficiary and its authorized representatives from and against any and all losses, liabilities, suits, obligations, fines, damages, penalties, claims, costs, charges and expenses, including, without limitation, reasonable attorneys’ fees and all costs which may be imposed upon, incurred by or asserted against Beneficiary by reason of: (a) the construction of any

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Packet Pg. 294 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 13 improvements on the Property, (b) any capital improvements, other work or things done in, on or about the Property or any part thereof, (c) any use, nonuse, misuse, possession, occupation, alteration, operation, maintenance or management of any portion of the Trust Estate or any part thereof or any street, drive, sidewalk, curb, passageway or space comprising apart thereof or adjacent thereto, (d) any gross negligence or willful act or omission on the part of Trustor and its agents, contractors, servants, employees, licensees or invitees, (e) any accident, injury (including death) or damage to any person or property occurring in, on or about the Property or any part thereof, (t) any lien or claim which may be alleged to have arisen on, against, or with respect to any portion of the Trust Estate under the laws of the local or state government or any other governmental or quasi-governmental authority or any liability asserted against Beneficiary with respect thereto, (g) any tax attributable to the execution, delivery, filing or recording of this Deed of Trust, the Note or the Loan Agreement, (h) any contest due to Trustor’s actions or failure to act, permitted pursuant to the provisions of this Deed of Trust, (i) subject to the nonrecourse provisions set forth in Section 1.21, any Event of Default under the Note, the Regulatory Agreement, this Deed of Trust or the Loan Agreement, or (j) any claim by or liability to any contractor or subcontractor performing work or any party supplying materials in connection with the Property or the Improvements, except in all events to the extent caused by the negligence or willful misconduct Beneficiary, its commissioner’s, officers, agents or employees.

ARTICLE 2. ASSIGNMENT OF RENTS, ISSUES AND PROFITS

2.1 Assignment. Trustor hereby irrevocably, absolutely, presently and unconditionally assigns and transfers to Beneficiary all the Rents of or from any portion of the Trust Estate, and hereby gives to and confers upon Beneficiary the right, power and authority to collect such Rents.

Trustor irrevocably appoints Beneficiary its true and lawful attorney-in-fact, at the option of Beneficiary at any time and from time to time, to demand, receive and enforce payment, to give receipts, releases and satisfactions, and to sue, in the name of Trustor, Trustee or Beneficiary, for all such Rents, and apply the same to the indebtedness secured hereby; provided, however, that so long as an Event of Default shall not have occurred hereunder and be continuing beyond any applicable notice and cure period, Trustor shall have the right to collect such Rents. Upon the request of Beneficiary, Trustor shall execute and deliver to Beneficiary, in recordable form, a specific assignment of any leases now or hereafter affecting the Trust Estate or any portion thereof to evidence further the assignment hereby made. The Assignment of Rents in this Article 2 is intended to be an absolute assignment from Trustor to Beneficiary and not merely an assignment for security only.

2.2 Election of Remedies. Subject to Trustor’s right to collect the Rents pursuant to Section 2.1 , Beneficiary may subject to the rights of any tenants, either in person, by agent or by a receiver appointed by a court, enter upon and take possession of all or any portion of the Property and the Improvements, enforce all Leases, in its own name sue for or collect all Rents, including those past due and unpaid, and apply the same to the costs and expenses of operation and collection, including, without limitation, reasonable attorneys’ fees, and to any indebtedness then secured hereby, in such order as Beneficiary may determine. The collection of such Rents, or the entering upon and taking possession of the Property or the Improvements, or the application thereof as provided above, shall not cure or waive any Event of Default or notice of default

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Packet Pg. 295 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 14 hereunder or under any of the Loan Documents or invalidate any act done in response to such Event of Default or pursuant to such notice of default.

ARTICLE 3. REMEDIES UPON DEFAULT

3.1 Events of Default; Cure. For all purposes hereof, the term “Event of Default” shall mean (a) at Beneficiary’s option, the failure of Trustor to pay any amount due hereunder or under the Note when the same is due and payable, whether by acceleration or otherwise; (b) the failure of Trustor to perform any non-monetary obligation hereunder, or the failure to be true in any material respect when made of any representation or warranty of Trustor contained herein, without curing such failure within ten (10) days after receipt of written notice from the Agency (or from any party authorized by the Agency to deliver such notice as identified by the Agency in writing to Trustor) for a monetary default and thirty (30) days for a non-monetary default, and the continuance of such failure for thirty (30) days after notice; provided, however, if the nonmonetary default is of the type that cannot reasonably be cured within thirty (30) days, Trustor shall have such additional time as may be reasonably necessary to cure such default if Trustor commences to cure such default within such thirty (30) day period and thereafter diligently prosecutes such cure to completion, or (c) the existence of any Event of Default under the Loan Documents that is continuing beyond any applicable notice and cure period.

3.2 Acceleration Upon Default, Additional Remedies. Upon the occurrence and continuance of an Event of Default beyond any applicable notice and cure period, Beneficiary may, at its option, declare all indebtedness secured hereby to be immediately due and payable upon notice and demand. Thereafter Beneficiary may:
(a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, subject to the rights of tenants enter upon and take possession of the Property and the Improvements, or any part thereof, in its own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of any portion of the Trust Estate, including, without limitation (i) taking possession of Trustor’s books and records with respect to the Property and Improvements, (ii) completing the construction of the Improvements, (iii) maintaining or repairing the Improvements or any other portion of the Trust Estate, (iv) increasing the income from the Trust Estate, with or without taking possession of the Property or the Improvements, (v) entering into, modifying, or enforcing Leases, (vi) suing for or otherwise collecting the Rents or other amounts owing to Trustor, including those past due and unpaid, and (vii) applying the same, less costs and expenses of operation and collection including, without limitation, reasonable attorneys’ fees, upon any indebtedness secured hereby, all in such order as Beneficiary may determine. The entering upon and taking possession of the Property or the Improvements, the collection of such Rents and the application thereof as provided above shall not cure or waive any Event of Default under the Loan Documents or this Deed of Trust or notice of default hereunder;
(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof;

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Packet Pg. 296 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 15 (c) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor’s interest in the Trust Estate to be sold, which notice Trustee or Beneficiary shall cause to be duly filed of record in the Official Records of the county in which the Property is located; or
(d) Exercise all other rights and remedies provided herein, in any of the Loan Documents or other document now or hereafter securing all or any portion of the obligations secured hereby, or by law.

3.3 Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured hereby as Trustee may require.
(a) Beneficiary or Trustee shall give such notice of default and election to sell as is then required by applicable law. Trustee shall, without demand on Trustor, after lapse of such time as may then be required by law and after recordation of such notice of default and after notice of sale having been given as required by law, sell the Trust Estate at the time and place of sale fixed by it in the notice of sale, either as a whole, or in separate lots or parcels or items as Beneficiary shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof a trustee’s deed conveying the property so sold, which shall not contain any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including, without limitation, Trustor, Trustee or Beneficiary, may purchase at such sale and Beneficiary shall be entitled to pay the purchase price by crediting the purchase price of the property against the obligations secured hereby. Trustor hereby covenants to warrant and defend the title of such purchaser or purchasers.
(b) After deducting all costs, fees and expenses of Trustee and of this Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale in the following priority, to payment of: (i) first, all sums expended under the terms hereof: not then repaid, with accrued interest at the Default Rate;(ii) second, all other sums then secured hereby; and (iii) the remainder, if any, to the person or persons legally entitled thereto. (c) Subject to California Civil Code 2924g, Trustee may postpone sale of all or any portion of the Trust Estate by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public announcement or subsequently noticed sale, and without further notice make such sale at the time fixed by the last postponement, or may, in its discretion, give a new notice of sale.

3.4 Appointment of Receiver. Upon the occurrence and continuance of an Event of Default hereunder, Beneficiary, as a matter of right and without notice to Trustor or anyone claiming under Trustor, and without regard to the then value of the Trust Estate or the adequacy for any security for the obligations then secured hereby, shall have the right to apply to any court having jurisdiction to appoint a receiver or receivers of the Trust Estate, and Trustor hereby

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Packet Pg. 297 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 16 irrevocably consents to such appointment and waives notice of any application therefor. Any such receiver or receivers shall have all the usual powers and duties of receivers in like or similar cases and all the powers and duties of Beneficiary in case of entry as provided herein.

3.5 Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Deed of Trust or under any Loan Documents or other agreement or any laws now or hereafter in force, notwithstanding some or all of the indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement whether by court action or pursuant to the power of sale or other powers herein contained, shall prejudice or in any manner affect Trustee’s or Beneficiary’s right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Beneficiary or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted, but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. Every power or remedy given by any of the Loan Documents to Trustee or Beneficiary or to which either of them may be otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed expedient by Trustee or Beneficiary and either of them may pursue inconsistent remedies.

3.6 Request for Notice. Trustor hereby requests a copy of any notice of default and that any notice of sale hereunder be mailed to it at the address set forth in Section 4.3 of this Deed of Trust.

3.7 Forbearance by Lender Not a Waiver. Any forbearance by Beneficiary in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy. The acceptance by Beneficiary of payment of any sum secured by this Deed of Trust after the due date of such payment shall not be a waiver of Beneficiary’s right either to require prompt payment when due of all other sums so secured or to declare an Event of Default for failure to make prompt payment. The procurement of insurance or this payment of taxes or other liens or charges by Beneficiary shall not be a waiver of Beneficiary’s right to accelerate the maturity of the indebtedness secured by this Deed of Trust nor shall Beneficiary’s receipt of any awards, proceeds or damages under this Deed of Trust operate to cure or waive any Event of Default with respect to any payment secured by this Deed of Trust.

3.8 Environmental Provisions. Without limiting any of the remedies provided in the Loan Documents, Trustor acknowledges and agrees that portions of Section 4 of the Loan Agreement and Section 1 .2 of this Deed of Trust are environmental provisions (as defined in Section 736(t)(2) of the California Code of Civil Procedure) made by the Trustor relating to the real property security (the “Environmental Provisions”), and that Trustor’s failure to comply with the Environmental Provisions is a breach of contract such that Beneficiary shall have the remedies

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Packet Pg. 298 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 17 provided under Section 736 of the California Code of Civil Procedure (“Section 736”) for the recovery of damages and for the enforcement of the Environmental Provisions. Pursuant to Section 736, Beneficiary’s action for recovery of damages or enforcement of the Environmental Provisions shall not constitute an action within the meaning of Section 726(a) of the California Code of Civil Procedure or constitute a money judgment for a deficiency or a deficiency judgment within the meaning of Sections 580a, 580b, 580d, or 726(b) of the California Code of Civil Procedure. Other than the remedy provided under Section 736, all remedies provided for by the Loan Documents are separate and distinct causes of action that are not abrogated, modified, limited or otherwise affected by the remedies provided under Section 736(a) of the California Code of Civil Procedure.

ARTICLE 4. MISCELLANEOUS

4.1 Amendments. This instrument cannot be waived, changed, discharged or terminated orally, but only by an instrument in writing signed by the party against whom enforcement of any waiver, change, discharge or termination is sought.

4.2 Trustor Waiver of Rights. Trustor waives to the extent permitted by law, (a) the benefit of all laws now existing or that may hereafter be enacted providing for any appraisement before sale of any portion of the Trust Estate, (b) all rights of redemption, valuation, appraisement, stay of execution, notice of election to mature or declare due the whole of the secured indebtedness and marshalling in the event of foreclosure of the liens hereby created, (c) all rights and remedies which Trustor may have or be able to assert by reason of the laws of the State of California pertaining to the rights and remedies of sureties, (d) the right to assert any statute of limitations as a bar to the enforcement of the lien of this Deed of Trust or to any action brought to enforce the Loan Agreement or any other obligation secured by this Deed of Trust, and (e) any rights, legal or equitable, to require marshalling of assets or to require upon foreclosure sales in a particular order, including any rights under California Civil Code Sections 2899 and 3433. Beneficiary shall have the right to determine the order in which any or all of the Trust Estate shall be subjected to the remedies provided herein. Beneficiary shall have the right to determine the order in which any or all portions of the indebtedness secured hereby are satisfied from the proceeds realized upon the exercise of the remedies provided herein. Nothing contained herein shall be deemed to be a waiver of Trustor’s rights under Section 2924c of the California Civil Code.

4.3 Notices. All notices and demands given under the terms hereof shall be in writing and sent by first-class registered or certified mail, postage prepaid, return receipt requested, or by private courier service which provides evidence of delivery. Unless a different address is given by any party as provided in this Section, all such communication will be addressed as follows:

If to Trustor: [TBD AFFORDABLE DEVELOPER]
6339 Paseo del Lago
Carlsbad, CA 92011
Attn: Cheri Hoffman
If to Beneficiary: Successor Agency to Redevelopment Agency of the City of El Centro

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Packet Pg. 299 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 18 Attn: Executive Director
1275 Main Street
El Centro, California 92522
Any Notice shall be deemed received immediately if delivered by hand and shall be deemed received on the third day from the date it is postmarked if delivered by registered or certified mail.

Each party shall promptly notify the other party of any change(s) of address to which notice shall be sent. Any address for service of notice on any party may be changed by that party serving a notice upon the other of the new address, except that any change of address to a post office box shall not be effective unless a street address is also specified for use in effectuating personal service.

4.4 Acceptance by Trustee. Trustee accepts this Trust when this Deed of Trust, duly executed and acknowledged, is made a public record as provided by law.

4.5 Captions. The captions or headings at the beginning of each Section hereof are for the convenience of the parties and are not a part of this Deed of Trust.

4.6 Invalidity of Certain Provisions. Every provision of this Deed of Trust is intended to be severable. I n the event any term or provision hereof is declared to be illegal, invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction, such illegality or invalidity shall not affect the balance of the terms and provisions hereof, which terms and provisions shall remain binding and enforceable.

4.7 Subrogation. To the extent that proceeds of the Note arc used to pay any outstanding lien, charge or prior encumbrance against the Trust Estate, such proceeds have been or will be advanced by Beneficiary at Trustor’s request and Beneficiary shall be subrogated to any and all rights and liens held by any owner or holder of such outstanding liens, charges and prior encumbrances, irrespective of whether the liens, charges or encumbrances are released.

4.8 Attorneys’ Fees. If any payment secured hereby is not paid when due, Trustor promises to pay all costs of enforcement and collection, including, but not limited to, reasonable attorneys’ fees, whether or not such enforcement and collection includes the filing of a lawsuit. As used herein, the terms “attorneys’ fees” or “attorneys’ fees and costs” shall mean the fees and expenses of counsel to the parties hereto (including, without limitation, in-house counsel employed by Beneficiary) which may include printing, duplicating and other expenses, air freight charges, and fees billed for law clerks, paralegals and others not admitted to the bar but performing services under the supervision of an attorney. The terms “attorneys’ fees” or “attorneys’ fees and costs” shall also include, without limitation, all such fees and expenses incurred with respect to appeals, arbitrations and bankruptcy proceedings, and whether or not any action or proceeding is brought with respect to the matter for which said fees and expenses were incurred.

4.9 No Merger of Lease. If both the lessor’s and lessee’s estate under any lease or any portion thereof which now or hereafter constitutes a part of the Trust Estate shall at any time become vested in one owner, this Deed of Trust and the lien created hereby shall not be destroyed or terminated by application of the doctrine of merger unless Beneficiary so elects as evidenced

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Packet Pg. 300 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 19 by recording a written declaration so stating, and, unless and until Beneficiary so elects, Beneficiary shall continue to have and enjoy all of the rights and privileges of Beneficiary as to the separate estates. In addition, upon the foreclosure of the lien created by this Deed of Trust on the Trust Estate pursuant to the provisions hereof, any leases or subleases then existing and affecting all or any portion of the Trust Estate shall not be destroyed or terminated by application of the law of merger or as a matter of law or as a result of such foreclosure unless Beneficiary or any purchaser at such foreclosure sale shall so elect. No act by or on behalf of Beneficiary or any such purchaser shall constitute a termination of any lease or sublease unless Beneficiary or such purchaser shall give written notice thereof to such tenant or subtenant.

4.10 Governing Law. This Deed of Trust shall be governed by and construed in accordance with the laws of the State of California.

4.11 Joint and Several Obligations. Should this Deed of Trust be signed by more than one party, all obligations herein contained shall be deemed to be the joint and several obligations of each party executing this Deed of Trust.

4.12 Interpretation. In this Deed of Trust the singular shall include the plural and the masculine shall include the feminine and neutral and vice versa, if the context so requires.

4.13 Completion of Construction. This Deed of Trust is a construction deed of trust within the meaning of California Commercial Code Section 9313. For purposes of subdivision (6) of that statute, “completion of construction” shall not be deemed to occur prior to completion of all work as evidenced by a certificate of occupancy or equivalent document from the jurisdiction, and installation or incorporation into the Improvements of all materials, for which sums secured hereby are disbursed by Beneficiary.

4.14 Reconveyance by Trustee. Upon written request of Beneficiary stating that all sums secured hereby have been paid or that all obligations under the Regulatory Agreement have been satisfied, and upon surrender of this Deed of Trust and the Note to Trustee for cancellation and retention and upon payment by Trustor of Trustee’s fees, Trustee shall reconvey to Trustor, or to the person or persons legally entitled thereto, without warranty, any portion of the Trust Estate then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as ‘‘the person or persons legally entitled thereto.” Such grantee shall pay Trustee a reasonable fee and Trustee’s costs incurred in so reconveying the Trust Estate.

4.15 Counterparts. This document may be executed and acknowledged in counterparts, all of which executed and acknowledged counterparts shall together constitute a single document.

Signature and acknowledgment pages may be detached from the counterparts and attached to a single copy of this document to physically form one document, which may be recorded.

4.16 Nonforeign Entity. Section 1445 of the Internal Revenue Code of 1986, as amended (the “Code”) and Sections 18805, 18815 and 26131, as applicable, of the California Revenue and Taxation Code (“CRTC”) provide that a transferee of a U.S. real property interest must withhold tax, in the case of the Code, if the transferor is a foreign person, or if, in the case of

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Packet Pg. 301 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 20 the CRTC, the transferor is not a California resident. To inform Beneficiary that the withholding of tax will not be required in the event of the disposition of the Property or the Improvements, or any portion thereof or interest therein, pursuant to the terms of this Deed of Trust, Trustor hereby certifies, under penalty of perjury, that: (a) Trustor is not a foreign corporation, foreign partnership, foreign trust or foreign estate, as those terms are defined in the Code and the regulations promulgated thereunder; and (b) Trustor’s U.S. employer identification number 90-1001541; and (c) Trustor’s principal place of business is 1230 Columbia Street, San Diego, CA 92101. It is understood that Beneficiary may disclose the contents of this certification to the Internal Revenue Service and the California Franchise Tax Board, and that any false statement contained herein could be punished by fine, imprisonment or both. Trustor covenants and agrees to execute such further certificates, which shall be signed under penalty of perjury, as Beneficiary shall reasonably require. The covenant set forth herein shall survive the foreclosure of the lien of this Deed of Trust or acceptance of a deed in lieu thereof.

4.17 Substitute Trustee. Beneficiary at any time and from time to time, by instrument in writing, may substitute and appoint a successor Trustee (either corporate or individual) to any Trustee named herein or previously substituted hereunder, which instrument when executed, acknowledged, and recorded in the Official Records of the Office of the Recorder of the county or counties where the Property is located shall be conclusive proof of the proper substitution and appointment of each successor trustee or trustees, who shall then have all the title, powers, duties and rights of the predecessor Trustee, without the necessity of any conveyance from such predecessor. Trustee shall not be obligated to notify any party hereto of pending sale under any other Deed of Trust, or, unless brought by Trustee, or any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party.

4.18 Fixture Filing. This Deed of Trust constitutes a financing statement filed as a fixture filing in the Official Records of the County Recorder in the county in which the Property is located with respect to any and all fixtures included within the term “Trust Estate” as used herein and with respect to any goods or other personal property that may now be or hereafter become such fixtures.

4.19 Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, TRUSTOR

AND BENEFICIARY EACH HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN

ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS

DEED OF TRUST OR ANY OTHER LOAN DOCUMENTS OR RELATING THERETO OR

ARISING FROM THE RELATIONSHIP WHICH IS THE SUBJECT OF THE LOAN

AGREEMENT AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

TRUSTOR ACKNOWLEDGES RECEIPT OF A TRUE COPY OF THIS DEED OF TRUST WITHOUT CHARGE.

TRUSTOR PLEASE NOTE: UPON THE OCCURRENCE OF AN EVENT OF

DEFAULT, CALIFORNIA PROCEDURE PERMITS TRUSTEE TO SELL THE TRUST

ESTATE AT A SALE HELD WITHOUT SUPERVISION BY ANY COURT AFTER EXPIRATION OF A PERIOD PRESCRIBED BY LAW. UNLESS YOU PROVIDE AN

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Packet Pg. 302 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 21 ADDRESS FOR THE GIVING OF NOTICE, YOU MAY NOT BE ENTITLED TO NOTICE OF THE COMMENCEMENT OF ANY SALE PROCEEDINGS. BY EXECUTION OF THIS DEED OF TRUST, YOU CONSENT TO SUCH PROCEDURE. BENEFICIARY URGES YOU TO

GIVE PROMPT NOTICE OF ANY CHANGE IN YOUR ADDRESS SO THAT YOU MAY RECEIVE PROMPTLY ANY NOTICE GIVEN PURSUANT TO THIS DEED OF TRUST.

4.20 Request For Notice. Pursuant to California Government Code Section 27321.4(b) Trustor hereby requests that a copy of any notice of default or notice of sale given under this Deed of Trust be mailed to Trustor at the address for Trustor set forth herein.

4.21 Reconveyance. Except upon the Event of Default by Trustor, Beneficiary shall reconvey this Deed of Trust upon termination of the Affordability Period as that term is defined in the Loan Agreement.

4.22 Subordination. This Deed of Trust and the provisions contained herein shall be subordinate to any senior financing approved by Beneficiary in accordance with the Loan Agreement and such exceptions to title shown in the title report for the Property which are approved in writing.

4.23 Tax Credit Provisions. Notwithstanding anything to the contrary contained herein or in any documents secured by this Deed of Trust or contained in any subordination agreement, and to the extent applicable, the Beneficiary acknowledges and agrees that in the event of a foreclosure or deed-in-lieu of foreclosure (collectively, "Foreclosure") with respect to the Security encumbered by this Deed of Trust, the following rule contained in 26 U.S.C. Section 42(h)(6)(E)(ii), as amended, applies:

For a period of three (3) years from the date of Foreclosure, with respect to an existing tenant of any low-income unit, (i) such tenant may not be subject to eviction or termination of their tenancy (other than for good cause), (ii) nor may such tenant's gross rent with respect to such unit be increased, except as otherwise permitted under Section 42 of the Internal Revenue Code of 1986, as amended.
[SIGNATURE PAGE FOLLOWS]

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Packet Pg. 303 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 22 IN WITNESS WHEREOF, Trustor has executed this Deed of Trust as of the day and year first above written.
“TRUSTOR”
[TBD AFFORDABLE OWNER],
a California limited partnership
By:_________________________________
Name:

Title:

By: __________________________________
Name:

Title:

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Packet Pg. 304 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 1 EXHIBIT A
LEGAL DESCRIPTION [Attached]

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Packet Pg. 305 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) BEING A PORTION OF PARCEL 3 OF MAP ON FILE IN BOOK 8, PAGE 12 OF PARCEL MAPS, WITHIN TRACT 209, TOWNSHIP 15 SOUTH, RANGE 13 AND 14 EAST, SAN BERNARDINO MERIDIAN, IN

THE CITY OF EL CENTRO, COUNTY OF IMPERIAL, STATE OF CALIFORNIA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

BEGINNING (POB) AT THE SOUTHEAST CORNER OF SAID PARCEL 3; THENCE ALONG THE SOUTH LINE OF SAID PARCEL 3 SOUTH 89°13'25" WEST A DISTANCE OF 429.02 FEET;
THENCE NORTH 45°41'37" WEST A DISTANCE OF 29.66 FEET ;
THENCE NORTH 00°36'38" WEST A DISTANCE OF 217.21 FEET TO THE TRUE POINT OF BEGINNING NO. 1 (TPOB NO.1);
THENCE CONTINUING NORTH 00°36'38" WEST A DISTANCE OF 296.71 FEET; THENCE NORTH 89°10'39" EAST A DISTANCE OF 450.02 FEET TO THE POINT OF INTERSECTION WITH THE EAST LINE OF SAID PARCEL 3 OF PARCEL MAP BOOK 8, PAGE 12, SAID POINT BEING 535.28 FEET NORTHERLY OF THE SOUTHEAST CORNER OF SAID PARCEL 3; THENCE ALONG SAID EAST LINE OF PARCEL 3 SOUTH 00°36'38" EAST A DISTANCE OF 298.59 FEET;
THENCE DEPARTING FROM SAID EAST LINE SOUTH 89°25'01" WEST A DISTANCE OF 450.02 FEET TO THE TRUE POINT OF BEGINNING NO. 1 (TPOB NO.1);
CONTAINS 3.08 ACRES OF LAND, MORE OR LESS.

THIS LEGAL DESCRIPTION ENTITLED "EXHIBIT A" AND THE PLAT ATTACHED HERETO DESIGNATED EXHIBIT "B" WERE PREPARED BY ME OR UNDER MY DIRECT SUPERVISION. __________ _______________ DAVID BELTRAN, PLS 8482 LICENSE EXP. 12/31/2022
PAGE 1 OF 3
EXHIBIT "A"
DATE:_______________ PRELIMINARY 05-19-2022
PARCEL 1

LEGAL DESCRIPTION

17.b
Packet Pg. 306 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 1 ATTACHMENT NO. 10

PROMISSORY NOTE
(Jacaranda Gardens Phase I)
$1,217,143
_______, 202_
El Centro, California
FOR VALUE RECEIVED, the undersigned, [TBD Affordable Owner] a California limited partnership (“Borrower”), hereby promises to pay to the order of the Successor Agency to the Redevelopment Agency for the City of El Centro (together with its successors and assigns, the “Agency”), having an address at 1275 Main Street in the City of El Centro, California 92243, at the Agency’s said address or at such other place or to such other person as may be designated in writing to Borrower by the Agency, the sum of One Million Two Hundred Seventeen Thousand One Hundred Forty-Three Dollars ($1,217,143) (the “Loan”), which amount includes principal plus interest accrued thereon at the rate hereinafter set forth.

1. Purpose. The purpose of the loan evidenced by this Promissory Note (the “Note”) is to provide financing to be used by Borrower for the acquisition of that certain real property located at 1625 N. Waterman Avenue in the City of El Centro and known as Assessor Parcel No. ____________ (the “Land”), a site that will support the construction of a mixed use multifamily, affordable housing development consisting of approximately ninety-six (96) units, including one (1) unrestricted manager’s units, of which Borrower shall own a fee interest (the “Project”, together with the Land, the “Property”).

2. Security. This Note is secured by that certain Deed of Trust, Fixture Filing, and Assignment of Rents executed by Borrower for the benefit of the Agency, dated as of even date herewith and recorded against the Property in the official records of the County of Imperial (the “Official Records”) substantially concurrent herewith (the “Deed of Trust”). The Loan is evidenced by, among other documents, that certain Disposition, Development, and Loan Agreement by and between the Agency, dated as of even date herewith (the “Loan Agreement”) and encumbered by that certain Regulatory Agreement by and between the Agency and Borrower, dated as of even date herewith, and recorded against the Property in the Official Records substantially concurrent herewith (the “Regulatory Agreement”), and that certain Notice of Affordability Restrictions on Transfer of Property by and between the Agency and the Borrower, dated as of even date herewith, and recorded against the Property in the Official Records substantially concurrent herewith (the “Affordability Restrictions”) together with the Note, the Deed of Trust and the Loan Agreement, and the Regulatory Agreement and any other document entered into by Borrower in connection with the Loan (the “Loan Documents”).

3. Terms of Payment.
a. Term. The principal of the Loan, together with all accrued interest, shall be due and payable on the earliest of: (a) fifty-five (55) years from the recordation of the Release of

17.b
Packet Pg. 307 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 2 Construction Covenants, but in no event later than December 31, 20___; (b) the date the Property is sold; or (c) an Event of Default by Borrower, which has not been cured as provided for in the Loan Documents (the “Term”).
b. Interest. The Loan shall bear simple interest at the rate of three percent (3%) per annum [OR SUCH GREATER RATE OF INTEREST REQUIRED BY THE PROJECT TAX CREDIT INVESTOR].
c. Repayment. Commencing on June 1, 20__, and on June 1 of each calendar year thereafter through the end of the Term, Borrower shall make payments of the Loan equal to the Agency’s Share of Residual Receipts. Payments under this Note shall be made in lawful money of the United States of America and shall be credited first against accrued interest and then against outstanding principal. Borrower shall provide the Agency with any documentation reasonably requested by the Agency to substantiate Borrower’s determination of Residual Receipts.

4. Definitions. Except as otherwise noted, the following definitions shall apply for purposes of this Note.
(i) “Annual Operating Expenses” means with respect to a particular calendar year the following costs reasonably and actually incurred for operation and maintenance of the Property to the extent that they are consistent with the annual operating budget for the Property approved in advance by the Agency, and substantiated by an annual independent audit performed by a certified public accountant using generally accepted accounting principles:
(A) property taxes and assessments imposed on the Property, if any;
(B) debt service currently due on a non-optional basis (excluding debt service due from residual receipts or surplus cash of the Property) on loans associated with the Property and approved by the Agency;
(C) property management fees and reimbursements, not to exceed fees and reimbursements which are standard in the industry and pursuant to a management contract approved by the Agency;
(D) premiums for property damage and liability insurance; (E) utility services not paid for directly by tenants, including water, sewer, and trash collection;
(F) maintenance and repair;
(G) any annual license or Certificate of Occupancy fees required for operation of the Property;
(H) security services;
(I) advertising and marketing;

17.b
Packet Pg. 308 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 3 (J) fees for resident services in the annual amount approved by the Agency, as set forth in the annual operating budget; (K) cash deposited into reserves for capital replacements of the Property in the amount of Two Hundred Fifty Dollars ($250) per unit per year, or such other higher amount required by a senior lender or investor; (L) cash deposited into an operating reserve in an amount to be approved by the Agency, but with the operating reserve of at least two percent (2%) of gross rent until the operating reserve reaches the equivalent of three (3) months of Annual Operating Expenses (including debt service) for the Property, or such greater amount as approved in writing by the Agency; Borrower may apply all or a portion of capitalized operating reserves funded during development to satisfy this requirement; (M) cash deposited into any other reserve accounts as required by permanent lenders and investors and as approved by the Agency; (N) payment of any previously unpaid portion of the
development fee (without interest) not exceeding a cumulative development fee in the maximum amount set forth in the Projections;
(O) extraordinary operating costs specifically approved in writing by the Agency;
(P) payments of deductibles in connection with casualty insurance claims not normally paid from reserves, the amount of uninsured losses actually replaced, repaired or restored, and not normally paid from reserves, and other ordinary and reasonable operating expenses not listed above;
(Q) annual asset management fees payable to the partners of the Developer in an amount approved by the Agency; and
(R) payments of deferred developer fees.

Annual Operating Expenses shall not include the following: depreciation, amortization, depletion or other non-cash expenses; any amount expended from a reserve account; and any capital cost with respect to the Property, as determined by the accountant for the Property.
(ii) “Gross Revenue” means with respect to a particular calendar year all revenue, income, receipts, and other consideration actually received from operation and leasing of the Property. Gross Revenue shall include, but not be limited to the following:
(A) all rents, fees and charges paid by tenants;
(B) Section 8, or other rental subsidy payments received for the dwelling units;

17.b
Packet Pg. 309 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 4 (C) deposits forfeited by tenants;
(D) all cancellation fees;
(E) price index adjustments and any other rental adjustments to leases or rental agreements resulting in actual income; (F) proceeds from vending and laundry room machines;
(G) the proceeds of business interruption or similar insurance; (H) the proceeds of casualty insurance to the extent not utilized to repair or rebuild the Property (or applied toward the cost of recovering such proceeds); and
(I) condemnation awards for a taking of part of all of the Property for a temporary period.

Gross Revenue does not include non-forfeited tenants’ security deposits, loan proceeds, capital contributions, or similar advances.
(iii) “Agency’s Share of Residual Receipts” shall mean the Agency’s Pro Rata Share of the Lenders’ Share of Residual Receipts. The Pro Rata Share shall be determined by calculating the percentage resulting from dividing the amount of the Loan funds disbursed to Borrower in accordance with the Loan Agreement, by the total of the sum of all loans for the Project.
(iv) “Lenders’ Share of Residual Receipts” shall mean one hundred percent (100%) of Residual Receipts.
(v) “Residual Receipts” shall mean in a particular calendar year the amount by which Gross Revenue exceeds Annual Operating Expenses.

5. Acceleration. Except as may be otherwise provided in the Deed of Trust or the other loan documents evidencing this Loan, this Note shall be due and payable in one lump sum upon the sale, conveyance, assignment, hypothecation, or refinance of the Property without prior written consent of the Agency, or transfer of this Note to any other party(ies) other than in connection with Permitted Transfers under the Loan Agreement. With the prior written consent of the Agency, which consent shall not be unreasonably withheld, conditioned or delayed, this Note may be assumed by an affiliate of Borrower.

6. Default. Any failure in the performance by Borrower of any non-monetary term, condition, provision or covenant set forth in this Note or the Regulatory Agreement shall be a default under this Note, and shall cause, at the option of the Agency, the entire unpaid balance, together with all unpaid sums then payable under this Note to become immediately due and payable upon written notice by the Agency to Borrower without further demand.

7. Prepayment. No prepayment penalty, fee or premium will be charged to Borrower

17.b
Packet Pg. 310 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 5 for payment of all or any portion of the Loan amount prior to the end of the term described herein.

8. Agency’s Remedies for Default; Cure.
a. Upon the occurrence of a default, the Agency shall provide Borrower written notice of said occurrence, and Borrower shall have thirty (30) days to cure the default unless the Agency shall agree in writing to an extension of such cure period prior to its expiration, which consent shall not be unreasonably withheld, conditioned or delayed; provided, however, if the default is of the type which is incapable of being cured within thirty (30) days, Borrower shall have such time as is reasonably necessary to cure such default, so long as Borrower has commenced such cure within such thirty (30) days and continues to diligently proceed to cure such default. If, after the cure period provided in this subparagraph (a), (i) Borrower has not cured the default, and (ii) the Agency has not waived its rights under this Note, the entire unpaid balance, together with all unpaid sums then payable under this Note shall, at the option of the Agency, become immediately due and payable upon written notice by the Agency to Borrower without further demand.
b. If a default shall occur and be continuing beyond any applicable notice and cure period, the Agency may pursue all rights and remedies available under this Note or as may be otherwise available to the Agency.
c. Any cure of any default made or tendered by an affiliate of Borrower or one or more of Borrower’s limited partners shall be deemed to be a cure by Borrower and shall be accepted by the Agency as if made or tended by Borrower.

9. Limited Recourse. Notwithstanding any contrary provision contained in this Note, there shall be no personal liability of Borrower or its partners, or their respective members, officers, directors, agents or employees and the liability of Borrower shall be limited to the Property securing the Note. The Agency shall, however, be entitled to institute an action, suit, claim or demand against, and to recover a judgment against the Borrower, but only for any deficiency and the cost of collections, and only to the extent that such deficiency results directly from: (a) intentional or willful misconduct, fraud or material misrepresentation by Borrower in connection with the representations and warranties provided by Borrower; (b) the misappropriation of any rents from the Property by Borrower after an event of default has occurred and the cure period for such an event of default has expired (to the full extent of such rents misappropriated by Borrower); (c) the willful removal or disposal by Borrower of personal property or fixtures of the Property constituting a significant value, except for that which occurs through reasonable maintenance and repair; (d) the misapplication or misappropriation by Borrower of any insurance proceeds or any condemnation award with respect to the Property to the extent of such insurance proceeds and/or condemnation award; or (e) the intentional or negligent waste of any portion of the Property by Borrower.

10. Notice. Formal notices, demands, and communications between the Agency and Borrower shall be sufficiently given if, and shall not be given unless, dispatched by certified mail, postage prepaid, return receipt requested or sent by express delivery service or overnight courier service, to the principal office of the Agency and Borrower as follows, or at such other address as

17.b
Packet Pg. 311 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 6 the parties may designate in writing from time to time:

AGENCY:

Successor Agency to the Redevelopment Agency for
the City of El Centro
1275 Main Street
El Centro, CA 92243
Attn: Executive Director
BORROWER:
[TBD AFFORDABLE DEVELOPER]
6339 Paseo del Lago
Carlsbad, CA 92011
Attn: Cheri Hoffman
With a copy to:
[Developer’s limited partner – TBD]
Any notices provided from Agency to Borrower or from Borrower to Agency shall also be provided as set forth in this Section to Borrower’s limited partner at the address such limited partner shall provide to the Agency. Such written notices, demands and communications shall be effective on the date shown on the delivery receipt as the date delivered or the date on which the delivery was refused.

11. Attorneys’ Fees. In the event of litigation arising from the enforcement of or a default under this Note, the non-prevailing party promises to pay all reasonable costs and expenses, including reasonable attorneys’ fees, incurred by the prevailing party in such litigation.

12. Modifications. This Note may not be changed orally. Any waiver, change, modification or discharge of this Note may be made only by the written consent of both parties.

13. Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of California.

17.b
Packet Pg. 312 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) IN WITNESS WHEREOF, Borrower has executed this Note as of the day and year first above written.

Borrower:
[TBD Affordable Owner], a California limited partnership By: ________________________________
Name:

Title:

By: ________________________________
Name:

Title:

17.b
Packet Pg. 313 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 1 ATTACHMENT NO. 11

RELEASE OF CONSTRUCTION COVENANTS

RECORDING REQUESTED BY )
AND WHEN RECORDED MAIL TO: )
)
)
Successor Agency to the Redevelopment )
Agency for the City of El Centro )
1275 Main Street )
El Centro, CA 92243 )
Attn: Executive Director )
)
Project: Jacaranda Gardens Phase I )
(Space above for Recorder’s Use Only)
This document is exempt from the payment of a recording fee pursuant to Government Code Section 27383.

RELEASE OF CONSTRUCTION COVENANTS
THIS RELEASE OF CONSTRUCTION COVENANTS (“Release”) is hereby made as of this day of , 202__, by THE SUCCESSOR AGENCY TO THE
REDEVELOPMENT AGENCY OF THE CITY OF EL CENTRO (“Agency”) in favor of [TBD AFFORDABLE OWNER] a California limited partnership (“Developer”).

R E C I T A L S
A. The Agency and the Developer entered into that certain Disposition, Development, and Loan Agreement dated for identification purposes only as of _____________, 202_ (“Disposition Agreement”).

B. Pursuant to the Agreement, the Agency and the Developer entered into that certain Regulatory Agreement dated ________________, 202__. The Agreement provides for the completion of certain improvements (“Project”) to certain real property (“Site”) situated in the City of El Centro, California, and more particularly described on Exhibit “A” attached hereto and made a part hereof by this reference. Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Regulatory Agreement.

C. As required in the Disposition Agreement and the Regulatory Agreement, the Agency shall furnish the Developer with a Release of Construction Covenants upon completion of the Project which Certificate shall be in such form as to permit it to be recorded in the Imperial County Recorder’s Office.

17.b
Packet Pg. 314 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) 2 D. The Agency has conclusively determined that the construction of the Project required by the Disposition Agreement, and the Regulatory Agreement on the Site has been satisfactorily completed.

NOW, THEREFORE, the Agency hereto certifies as follows:

1. As provided in the Regulatory Agreement, the Agency does hereby certify that all of the construction of the Project on the Site has been fully and satisfactorily performed and completed in accordance with the Disposition Agreement and the Regulatory Agreement.

2. After the recordation of this Release any person or entity then owning or thereafter purchasing, or otherwise acquiring any interest in the Site will not (because of such ownership, purchase, or acquisition) incur any obligation or liability under the Disposition Agreement, or the Regulatory Agreement to construct the Project, however, such party shall be bound by any and all of the covenants, conditions, and restrictions concerning the use, maintenance and operation of the Site which survive such recordation.

3. This Release is not a notice of completion as referred to in Section 3093 of the California Civil Code.

IN WITNESS WHEREOF, the Agency has executed this Release as of the date set forth above.

SUCCESSOR AGENCY TO THE

REDEVELOPMENT AGENCY OF THE CITY

OF EL CENTRO
By:______________________________________
Executive Director
ATTESTED TO:

By: _______________________________
Agency Secretary
APPROVED AS TO FORM:

By:

Agency General Counsel

17.b
Packet Pg. 315 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) EXHIBIT “A”

LEGAL DESCRIPTION
(ATTACHED)

17.b
Packet Pg. 316 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) ATTACHMENT NO. 12

REQUEST FOR NOTICE OF DEFAULT

REQUEST FOR NOTICE OF DEFAULT
(Under Section 2924b Civil Code)
In accordance with Section 2924b, Civil Code, request is hereby made that a copy of any notice of default and a copy of any notice of sale under the deed of trust recorded on ______________, 20__, in Book ______, Page _______, Official Records of Imperial County, California, executed by ___________________________, in which ________________is named as Beneficiary, and Lawyer’s Title, as Trustee, be mailed to:

City of El Centro
1275 Main Street
El Centro, California 92243
Attn: Executive Director
NOTICE: A copy of any notice of default and of any notice of sale will be sent only to the address contained in this recorded request. If your address changes, a new request must be recorded.

SUCCESSOR AGENCY TO THE

REDEVELOPMENT AGENCY OF THE CITY

OF EL CENTRO
By:____________________________________
Executive Director

17.b
Packet Pg. 317 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) BEING A PORTION OF PARCEL 3 OF MAP ON FILE IN BOOK 8, PAGE 12 OF PARCEL MAPS, WITHIN TRACT 209, TOWNSHIP 15 SOUTH, RANGE 13 AND 14 EAST, SAN BERNARDINO MERIDIAN, IN

THE CITY OF EL CENTRO, COUNTY OF IMPERIAL, STATE OF CALIFORNIA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

LEGAL DESCRIPTION

17.b
Packet Pg. 318 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) ATTACHMENT NO. 13

ASSIGNMENT OF PLANS, REPORTS AND DATA
FOR VALUE RECEIVED, and subject to the rights of any senior lender, [TBD AFFORDABLE OWNER], a California limited partnership (“Owner”), does hereby assign, pledge, transfer and set over to the SUCCESSOR AGENCY TO THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF EL CENTRO (“Agency”), all of its rights, title and interest in and to the following (collectively, “Plans, Reports and Data”): any and all plans, drawings, studies, reports and related documents concerning the Property, and all amendments, modifications, supplements, general conditions and addenda thereto, including, without limitation, Environmental Reports, all architectural and engineering plans, any architect’s agreement entered into hereafter (“Architect’s Agreement”) by and between the Owner and any architect engaged to perform services with respect to the Property (“Architect”) and those certain plans and specifications referred to therein, and all amendments, modifications, supplements, general conditions and addenda thereto (collectively, “Architectural Plans”) prepared by Architect for the account of the Owner in connection with the development of certain real property located in the City of El Centro, Imperial County, State of California more particularly described on Exhibit “A” attached hereto (“Property”). The Plans, Reports and Data, including, without limitation, the Architect’s Agreement and the Architectural Plans, are hereby assigned as collateral security under the Disposition, Development, and Loan Agreement (“DDA”) executed by the parties. All capitalized terms not defined herein shall have the meaning set forth in the DDA. For purposes hereof, “Environmental Reports” means any “Phase 1” and/or “Phase 2” investigations of the Property and all final reports and test results (not including drafts) provided by the Developer’s environmental consultant, if any.

Upon the occurrence and during the continuance of an Event of Default under the DDA, or any other document relating to the DDA (collectively, “DDA Documents”), the Agency shall have the right, but not the obligation, at any time, in its own name or in the name of the Owner, or otherwise, to take such action as the Agency may at any time or from time to time determine to be necessary or desirable in order to cure any default by the Owner under the Architect’s Agreement, including, without limitation, the protection of the Owner’s rights with respect to the Architectural Plans or to protect the rights of the Owner thereunder. The Agency shall not incur any liability if any action taken by the Agency or on its behalf in good faith, pursuant to the foregoing sentence, shall prove to be, in whole or in part, inadequate or invalid, and the Owner hereby indemnifies and agrees to hold the Agency harmless from and against any and all loss, claim, demand, cost, liability, damage or expense, including, without limitation, reasonable attorneys’ fees and expenses in connection with any such action or actions. The Owner agrees to have each architect engaged to perform services in connection with the Property execute a Consent in the form attached hereto.

Subject to the rights of the Project’s senior lenders, upon the occurrence of an Event of Default or termination under Section 8 of the DDA, the Agency may exercise its rights hereunder and take possession of and title to the Plans, Reports and Data, including, without limitation, all architectural plans and the Architect’s Agreement. The Agency shall notify the Owner in writing of its exercise of its rights hereunder in accordance with the notice provisions set forth in the

17.b
Packet Pg. 319 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) DDA. The Owner shall deliver possession of and title to the Plans, Reports and Data to the Agency within forty-eight (48) hours of receipt of the Agency’s written notice.

The Owner and Architect, by executing the Consent to this Assignment, agree that the Agency does not assume any of the Owner’s obligations or duties concerning the Architect’s Agreement and the Architectural Plans, including, but not limited to, the obligation to pay for the preparation of the Architect’s Agreement and the Architectural Plans, until and unless the Agency shall exercise its rights hereunder.

Except for an Assignment to the senior lender, the Owner hereby represents and warrants to the Agency that no previous assignment of its interest in the Plans, Reports and Data, including, without limitation, the Architect’s Agreement and the Architectural Plans, has been made, and the Owner agrees not to assign, sell, pledge, transfer, mortgage or otherwise encumber its interest in the Plans, Reports and Data, including, without limitation, the Architect’s Agreement and the Architectural Plans, so long as this Assignment is in effect.

This Assignment shall be binding upon and inure to the benefit of the heirs, legal representatives, assigns, or successors in interest of the Owner and the Agency. (Signatures on following page.)

17.b
Packet Pg. 320 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) IN WITNESS WHEREOF, the Owner has caused this Assignment of Plans, Reports and Data to be executed as of _____________, 202__.

OWNER:
[TBD AFFORDABLE OWNER],
a California limited partnership
By:_________________________________
Name:

Title:

By: __________________________________
Name:

Title:

17.b
Packet Pg. 321 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement)

CONSENT
The undersigned has prepared the Architectural Plans and hereby consents to the assignment and other conditions set forth in the above Assignment of Plans, Reports and Data.

The undersigned also agrees that in the event of a breach by the Owner of any of the terms and conditions of the Architect’s Agreement or any other agreement entered into with the undersigned in connection with the Architectural Plans, that so long as the Owner’s interest in the Plans is assigned to the Agency, the undersigned will give written notice to the Agency of such breach. The Agency shall have sixty (60) calendar days from the receipt of such notice of default to remedy or cure said default; however, nothing herein shall require the Agency to cure said default, the Agency shall only have the option to do so.

The undersigned also agrees that in the event of default by the Owner under any of the documents or instruments entered into in connection with the Disposition, Development, and Loan Agreement, the undersigned, at the Agency’s request, shall continue performance under the Architect’s Agreement in accordance with the terms hereof, provided that the undersigned shall be reimbursed in accordance with the Architect’s Agreement for all services rendered on the Agency’s behalf.

Dated:

ARCHITECT:
______________________________
By:

Name:

Title:

17.b
Packet Pg. 322 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) EXHIBIT “A”

LEGAL DESCRIPTION
(ATTACHED)

17.b
Packet Pg. 323 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement) BEING A PORTION OF PARCEL 3 OF MAP ON FILE IN BOOK 8, PAGE 12 OF PARCEL MAPS, WITHIN TRACT 209, TOWNSHIP 15 SOUTH, RANGE 13 AND 14 EAST, SAN BERNARDINO MERIDIAN, IN

THE CITY OF EL CENTRO, COUNTY OF IMPERIAL, STATE OF CALIFORNIA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

LEGAL DESCRIPTION

17.b
Packet Pg. 324 Attachment: Exhibit B- Disposition, Development, and Loan Agreement (5531 : Jacaranda Gardens Development Disposition Agreement)

17.c
Packet Pg. 325 Attachment: Exhibit C_Site Plan_Elevation (5531 : Jacaranda Gardens Development Disposition Agreement) X

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1 CURRENT ZONING INFORMATION:

EXISTING: R3 (MULTI-FAMILY RESIDENTIAL)
OWNER INFORMATION:

CITY OF EL CENTRO
1275 WEST MAIN STREET
EL CENTRO, CA. 92243
ASSESOR'S PARCEL NO.:
064-470-103-000

OF SHEETS
SHEET NO.
1 CIVIL ENGINEERING - LAND SURVEYING - CONSTRUCTION MANAGEMENT 2415 IMPERIAL BUSINESS PARK DRIVE. SUITE B.,
IMPERIAL CA. 92251
TEL. (760) 545-0162 FAX (760) 545-0163
GENERAL NOTES:

1. TOTAL PROPOSED MULTI-FAMILY RESIDENTIAL LOTS: 2

2. TOTAL PARCEL BOUNDARY: ±5.91 ACRES
PARCEL 1: 3.08 ACRES
PARCEL 2: 2.45 ACRES
PARCEL A (FOR ROAD AND UTILITY PURPOSES): 0.38 ACRES

3. SCHOOL: EL CENTRO UNIFIED SCHOOL DISTRICT

4. SEWER: CITY OF EL CENTRO
2255 NORTH La BRUCHERIE, EL CENTRO, CA. 92243
PHONE: 760-337-4562

5. WATER: CITY OF EL CENTRO
1101 WEST DANENBERG DRIVE, EL CENTRO, CA. 92243
PHONE: 760-337-4575

6. ELECTRIC: IMPERIAL IRRIGATION DISTRICT
1284 MAIN STREET, EL CENTRO, CA. 92243
PHONE: 760-339-9225

7. GAS: SOUTHERN CALIFORNIA GAS COMPANY
970 NORTH 4TH STREET, EL CENTRO, CA. 92243
PHONE: 760-352-5812

8. TELEPHONE: SBC PACIFIC BELL
PHONE: 1-800-750-2355

9. CABLE: SPECTRUM CABLE
313 N. 8th STREET, EL CENTRO, CA. 92243
PHONE: 877-842-2493

10. FIRE DISTRICT: EL CENTRO FIRE DEPARTMENT:
1910 N. WATERMAN AVE, EL CENTRO, CA.

PHONE: 760-337-4530

12. TITLE COMPANY: FIRST AMERICAN TITLE COMPANY
1250 CORONA POINTE COURT, SUITE 200
CORONA, CA. 92879
ORDER NO.: NHSC-6542921 (DG)
PROPERTY_LINE
RW_EX
FENCE
EXIST. ASPHALT PAVEMENT
EXIST. ELEVATION

EASEMENT
X
EXIST. CONCRETE
LEGEND
EXIST. SIGN
EXIST. FIRE HYDRANT (F.H.)
W EXIST. WATER LINE
S EXIST. SANITARY SEWER LINE
EXIST. TREE, OR PALM

FOUND SURVEY MONUMENT
EXIST. VALVE
EXIST. SANITARY MANHOLE
XXXX
CONSULTING Dynamic ENGINEERS

CIVIL SITE PLAN
450.02'
PROPOSED ZONING INFORMATION:

PROPOSED: R3 (MULTI-FAMILY RESIDENTIAL)
ENGINEER/SURVEYOR:

DYNAMIC CONSULTING ENGINEERS, INC.
2415 IMPERIAL BUSINESS PARK DRIVE, SUITE B
IMPERIAL, CA. 92251
760-545-0162
GENERAL PLAN AND LAND USE DESIGNATION:

R3 - MULTI-FAMILY RESIDENTIAL
PROPOSED RIGHT OF WAY DEDICATION (PARCEL A):
1 PORTION OF WATERMAN AVENUE TO BE OFFER TO THE CITY

OF EL CENTRO FOR ROAD RIGHT OF WAY AND UTILITIES
PURPOSES.

LINCOLN AVENUE WATERMAN AVENUE

VICINITY MAP LA BRUCHERIE ROAD

VILLA AVENUE

PICO AVENUE

EL DORADO AVE

BRADSHAW ROAD
CRUICKSHANK DRIVE HIGHWAY 86 HIGHWAY 86
BENCH MARK:

THE BENCHMARK USED HEREON IS THE COUNTY OF IMPERIAL BENCHMARK "N-90" BEING A BRASS CAP RESET IN 1995 AT THE SOUTHWEST CORNER OF

THE HEADGATE FOR THE UNDERGROUND DAHLIA CANAL ON THE EAST SIDE OF LA BRUCHERIE AND THE SOUTH SIDE OF THE RAILROAD TRACKS.

ELEVATION = 964.32' (NAVD 88 +1000')
BASIS OF BEARINGS:

THE BASIS OF BEARINGS FOR THIS SURVEY IS S89°53'57"E WHICH IS THE BEARING OF SOUTH LINES OF PARCEL 4 OF PARCEL MAP NO. 43-350-29 ACCORDING TO THE PARCEL MAP RECORDED IN BOOK 12, PAGE 6 OF PARCEL MAPS IN THE OFFICE OF THE COUNTY IMPERIAL COUNTY RECORDER.

APPLICANT INFORMATION:

CHELSEA INVESTMENT CORPORATION
6339 PASEO DEL LARGO
CARLSBAD, CA. 92011

LINCOLN AVENUE
S89°13'25"W 450.02' S00°36'38"E 535.28' N00°36'38"W 485.52' S89°13'25"W
450.02'

32.00'

29.66'

21.0' 21.0' WATERMAN AVENUE
APN 064-470-106 APN 064-470-071 1620 N. IMPERIAL AVE
APN 064-470-061
APN 064-493-009 1400 N. IMPERIAL AVENUE
1495 N. WATERMAN AVE APN 064-470-048 GIO'S MOBILE HOME ESTATES APN 064-470-070 FIRST RESPONDERS PARK

62.00'

62.00' 82.00' 82.00' EX. S/W R/W R/W R/W R/W

R/W R/W R/W

R/W R/W
R/W EX. SIDEWALK
EX. S/W EX. S/W
EX. S/W
EX. RAMP
EX. S/W EX. C&G
EX. C&G
EX. C&G
EX. GUT EX. FH EX. UTBX EX. ECLP EX. WTMT EX. FH
EX. ECLP
EX. C/G
EX. UTBX

TO BE RELOCATED
RIM:954.49' INV:950.03'
RIM:953.65' INV:947.57'
RIM:953.37' INV:947.08' N00°36'38"W 534.92' PARCEL
A ±0.38 ACRES 236.69' 298.59' 238.21' 296.71'
N89°25'01"E 450.02'
N89°10'39"E 482.02'
PARCEL 2
±2.45 ACRES
PARCEL 1
±3.08 ACRES 24.9' 31.0'

35.0'

15.0'

15.0' 5.0' 5.0'

5.0'

20.0'

22.6'

22.6' 32.2'

20.0'

35.0' 34.0' 30.0' 10' 10' 10' 10'
10'
13'
13'

PROPOSED TWO WAY
GATE

PROPOSED VEHICULAR

GATE PROPOSED VEHICULAR GATE

PROPOSED BLOCK

FENCE PROPOSED BLOCK WALL PROPOSED BLOCK FENCE

PROJECT SITE

ABBREVIATIONS

PROPOSED BLOCK
WALL

PROPOSED TRASH

ENCLOSURE PROPOSED TRASH ENCLOSURE
PROPOSED 5' STEEL
FENCING PROPOSED 5' STEEL FENCING

PROPOSED DRIVEWAY

PROPOSED

DRIVEWAY

PROPOSED SIDEWALK PROPOSED C&G

PROPOSED
RAMP
(FL952.98')
(FL953.19')
(FL953.40')
(FL953.40')
(FL953.19')
(FL952.64')
(FL953.10')
(FL952.85')
(FL953.60')
(FL954.16')
(FL954.24')
(FL954.20')
(FL954.62')

PROPOSED USPS

PARKING SPACE

PROPOSED

MAILBOX

PROPOSED

MAILBOX

PROPOSED ADA

PARKING PROPOSED ADA PARKING PROPOSED ADA PARKING

PROPOSED ADA

PARKING

PROPOSED FIRE

HYDRANT

PROPOSED FIRE

HYDRANT

PROPOSED FIRE

HYDRANT

PROPOSED FIRE

HYDRANT PROPOSED FIRE HYDRANT PROPOSED FIRE HYDRANT

PROPOSED SEWER LINE

PROPOSED SEWER LINE PROPOSED SEWER LINE PROPOSED SEWER LINE PROPOSED WATER LINE PROPOSED WATER LINE

PROPOSED WATER LINE

PROPOSED WATER LINE
SETBACKS:

FRONT: 20'
SIDE YARD: 5'
REAR: 25'
OPPOSITE INTERIOR SIDE: 10'
SEPARATION BETWEEN BUILDINGS: 6'
PARKING SPACES:

PARKING SPACES: 213
ADA VAN ACCESSIBLE: 2
ADA PARKING SPACES: 8
POST OFFICE PARKING SPACE: 1
TOTAL PARKING SPACES: 224
CARPORTS (168 TOTAL)

17.c
Packet Pg. 326 Attachment: Exhibit C_Site Plan_Elevation (5531 : Jacaranda Gardens Development Disposition Agreement)

17.c
Packet Pg. 327 Attachment: Exhibit C_Site Plan_Elevation (5531 : Jacaranda Gardens Development Disposition Agreement)

17.d
Packet Pg. 328 Attachment: Exhibit D_Offsite Improvements (5531 : Jacaranda Gardens Development Disposition Agreement)

17.d
Packet Pg. 329 Attachment: Exhibit D_Offsite Improvements (5531 : Jacaranda Gardens Development Disposition Agreement)

17.d
Packet Pg. 330 Attachment: Exhibit D_Offsite Improvements (5531 : Jacaranda Gardens Development Disposition Agreement)

17.d
Packet Pg. 331
Attachment: Exhibit D_Offsite Improvements (5531 : Jacaranda Gardens Development Disposition 06/2022/A22-0020/liz/Reso/SuccAgency/ExemptSurplusLand
RESOLUTION NO. SA 22-

RESOLUTION OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF

THE CITY OF EL CENTRO, DECLARING AS EXEMPT SURPLUS LAND APPROXIMATELY 5.53 ACRES OF SUCCESSOR HOUSING AGENCY-OWNED VACANT PROPERTY LOCATED AT 1625 N. WATERMAN AVENUE IN THE CITY OF EL CENTRO (APN: 064-470-103), PURSUANT TO ASSEMBLY BILL 1486, AND APPROVING THE TRANSFER OF THE PROPERTY FOR THE DEVELOPMENT OF 100% LOWER INCOME

UNITS AND APPROVING OTHER ACTIONS RELATED THERETO
WHEREAS, by action of the City Council of the City of El Centro (“City Council”) pursuant to Chapter 2 of the California Community Redevelopment Law (Health & Safety Code § 33000, et seq., “Community Redevelopment Law”), the City of El Centro (“City”) established the Redevelopment Agency of the City of El Centro (the “Redevelopment Agency”), whose purpose included increasing, improving, and preserving the community’s supply of housing affordable to and occupied by very low and low-income households pursuant to Sections 33334.2, 33334.3, 33334.6 and 33413 of the Community Redevelopment Law; and WHEREAS, the City Council elected to have the City retain the housing assets of the Redevelopment Agency and perform functions previously performed by the Redevelopment Agency. Accordingly, as of, on, and after February 1, 2012, the City, as successor agency to the former Redevelopment Agency of the City of El Centro (hereafter referred to as “Agency”), began to perform and continues to perform its functions as the “successor housing agency” of the former Redevelopment Agency pursuant to the Dissolution Act; and WHEREAS, the Agency owns certain real property located at 1625 N. Waterman Avenue within the City of El Centro, California, and further identified as Assessor Parcel No. (APN) 064- 470-103, consisting of approximately 5.53 acres of vacant land (“Property”); and WHEREAS, pursuant to the Agency’s Long-Range Property Management Plan, the use and disposition of the Property must be for the benefit of affordable housing in accordance with Community Redevelopment Law; and
WHEREAS, effective January 1, 2020, Assembly Bill 1486 (“AB 1486”) expanded the Surplus Land Act to provide that written findings are to be made and adopted declaring property as either surplus property or exempt surplus property before a public agency may take any action to dispose of its property; and
WHEREAS, specifically, Government Code Section 54221(f)(1)(F) states that property is “exempt surplus land” if it is put out to open, competitive bid, provided all housing entities identified in subdivision (a) of Section 54222 of the Government Code are invited to participate in the competitive bid process, for the following purpose: “(i) A housing development…that restricts 100 percent of the residential units to persons and families of low or moderate income, with at least 75 percent of the residential units restricted to lower income households, as defined in Section 50079.5 of the Health and Safety Code, with...an affordable rent, as defined in …Section 50053 of the Health and Safety Code, for a minimum of 55 years for rental housing...”

17.e
Packet Pg. 332 Attachment: Exhibit E - Resolution (5531 : Jacaranda Gardens Development Disposition Agreement) 06/2022/A22-0020/liz/Reso/SuccAgency/ExemptSurplusLand
WHEREAS, the Property is no longer necessary for the Agency’s use, and on September 23, 2020, the Agency advertised a Request for Proposals for the purchase of the Property, providing notice thereof to all entities identified in Government Code Section 54222(a); and WHEREAS, the Request for Proposals specified that the purchaser of the Property would be required to construct an affordable housing project available exclusively to lower income households, as is consistent with Government Code Section 54221(f)(1)(F)(i); and WHEREAS, Chelsea Investment Corporation (“Affordable Housing Developer”) was the highest scoring respondent, indicating its willingness to construct two multi-family housing projects on the Property restricted exclusively to lower income households as specified in the Request for Proposals, and as is consistent with Government Code Section 54222(f)(1)(F)(i); and WHEREAS, the Agency has since reached agreement with the Affordable Housing Developer, whereby following the subdivision of the Property into two parcels, the Affordable Housing Developer will construct, in two phases, two multi-family affordable housing projects, consisting of a total of one hundred sixty-eight (168) units, supported by a land loan provided by the Agency for each parcel’s purchase price (“Project”); and WHEREAS, the Affordable Housing Developer will be required to record affordability restrictions on each newly-created parcel of the Property, restricting the units to lower income, very low income, and extremely low income households at an affordable rent, as defined in 50053 of the Health and Safety Code, for not less than fifty-five (55) years; and WHEREAS, the Affordable Housing Developer is currently seeking funding for the Project from the State of California Tax Credit Allocation Committee (“TCAC”), which facilitates the investment of private capital into affordable rental housing development for low-income households; and
WHEREAS, to support the financial feasibility of the Project and to meet the upcoming TCAC deadline for funding applications, the Agency and the Affordable Housing Developer have agreed in principle on a Disposition, Development, and Loan Agreement (“DDA”), which sets forth the terms under which the first phase of the Project will be undertaken for the development of affordable housing on the first portion of the Property that meets the requirements of Government Code Section 54221(f)(1)(F)(i), but the DDA will not be executed until thirty (30) days after this Resolution has been provided to the Department of Housing and Community Development; and
WHEREAS, pursuant to Government Code Section 54222.3, the Surplus Lands Act is inapplicable to the disposal of exempt surplus land by a local agency; and WHEREAS, pursuant to Section 103(b)(3)(F) of the “Surplus Land Act Guidelines” adopted by the California Department of Housing and Community Development in April 2021 (the “Guidelines”), land meeting the requirements of Government Code Section 54221(f)(1)(F) is exempt from Articles II and III of the Guidelines.

17.e
Packet Pg. 333 Attachment: Exhibit E - Resolution (5531 : Jacaranda Gardens Development Disposition Agreement) 06/2022/A22-0020/liz/Reso/SuccAgency/ExemptSurplusLand

NOW, THEREFORE, THE SUCCESSOR AGENCY TO THE CITY OF EL CENTRO REDEVELOPMENT AGENCY DOES RESOLVE AS FOLLOWS:

Section 1. Recitals. The Recitals set forth above are true and correct and are incorporated into this Resolution by this reference.

Section 2. Property Declared Exempt Surplus Land. The requirements of Government Code Section 54221(f)(1)(F) are hereby declared to have been fulfilled by the competitive bidding process used by the Agency and the substantive requirements the Agency will establish for the development of the Property, and the Property is hereby declared to be “exempt surplus land” pursuant to Government Code Section 54221(f)(1)(F)(i).

Section 3. Submission to HCD. The Executive Director, or her designee, is hereby authorized and directed to take all necessary actions to further the purpose of this Resolution including providing these written findings to the California Department of Housing and Community Development ("HCD") pursuant to Section 400(e) of HCD's "Surplus Land Act Guidelines." Section 4. Agreements. After thirty (30) days from the submission of this Resolution to HCD pursuant to Section 400(e) of the Guidelines, the Executive Director, or her designee, is hereby authorized and directed to execute the Disposition, Development, and Loan Agreement with Chelsea Investment Corporation, and to make and/or execute any changes, amendments, or related documents necessary to effectuate the transaction for the first phase of the Project. The Executive Director, or her designee, is also authorized and directed to negotiate and execute a Disposition, Development, and Loan Agreement with Chelsea Investment Corporation for the second phase of the Project, substantially similar in form to the first phase Disposition, Development, and Loan Agreement, restricting the units to lower income, very low income, and extremely low income households at an affordable rent, as defined in 50053 of the Health and Safety Code, for not less than fifty-five (55) years, and to make and/or execute any changes, amendments, or related documents necessary to effectuate the transaction for the second phase of the Project.

PASSED AND ADOPTED at a regular meeting of the Successor Agency to the El Centro Redevelopment Agency held on the ____day of ________ 2022.

SUCCESSOR AGENCY TO THE

EL CENTRO REDEVELOPMENT AGENCY
By_____________________________
Tomas Oliva Chairperson
ATTEST:

By_________________________________
Norma Wyles, Agency Secretary

17.e
Packet Pg. 334 Attachment: Exhibit E - Resolution (5531 : Jacaranda Gardens Development Disposition Agreement) 06/2022/A22-0020/liz/Reso/SuccAgency/ExemptSurplusLand
APPROVED AS TO FORM:

Office of the City Attorney
By_________________________________
Elizabeth Martyn Evans, Agency Counsel

STATE OF CALIFORNIA )
COUNTY OF IMPERIAL ) ss

CITY OF EL CENTRO )
I, Norma Wyles, Agency Secretary of the Successor Agency to the El Centro Redevelopment Agency, do hereby verify that the foregoing Resolution No. SA 22- was duly adopted at a regular meeting of the Successor Agency to the El Centro Redevelopment Agency held on the day of , 2022, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAINED:

By______________________________
Norma Wyles, Agency Secretary

17.e
Packet Pg. 335 Attachment: Exhibit E - Resolution (5531 : Jacaranda Gardens Development Disposition Agreement) City Council of the City of El Centro Meeting: 06/07/22 11:30 AM 1275 Main Street Department: City Clerk's Office
El Centro, CA 92243 Category: Claim Filed
Prepared By: Norma Wyles
SCHEDULED Department Head: Norma Wyles
INFORMATION ITEM (ID # 5559) DOC ID: 5559
Notification of rejection of claim of Bianca Garnica by Carl Warren & Co., Claims Administrator
Notification of rejection of claim of Bianca Garnica by Carl Warren & Co., Claims Administrator
ATTACHMENTS:
• Rejection of Claim Cover Letter - Bianca Garnica (PDF) • Claim - Bianca Garnica_Redacted (PDF)
18 Packet Pg. 336
City of El Centro
Meeting of the City Council
June 7, 2022
REJECTION OF CLAIM – BIANCA GARNICA
Claim for Damages against a Governmental Entity
(2 Pages)
The above attachment has been included with the agenda packets distributed to members of the Governing Board. It has not been included with other agenda packets. A copy of this document is available for review at Office of the City Clerk.

18.a
Packet Pg. 337 Attachment: Rejection of Claim Cover Letter - Bianca Garnica (5559 : Notification of rejection of claim of Bianca Garnica by Carl Warren & Co.,

18.c
Packet Pg. 338 Attachment: Claim - Bianca Garnica_Redacted (5559 : Notification of rejection of claim of Bianca Garnica by Carl Warren & Co., Claims

18.c
Packet Pg. 339 Attachment: Claim - Bianca Garnica_Redacted (5559 : Notification of rejection of claim of Bianca Garnica by Carl Warren & Co., Claims City Council of the City of El Centro Meeting: 06/07/22 11:30 AM 1275 Main Street Department: City Clerk's Office
El Centro, CA 92243 Category: Claim Filed
Prepared By: Norma Wyles
SCHEDULED Department Head: Norma Wyles
INFORMATION ITEM (ID # 5560) DOC ID: 5560
Notification of rejection of claim of Fernando Valenzuela by Carl Warren & Co., Claims Administrator.

Notification of rejection of claim of Fernando Valenzuela by Carl Warren & Co., Claims Administrator.

ATTACHMENTS:
• Rejection of Claim Cover Letter - Fernando Valenzuela (PDF) • Claim - Fernando Valenzuela_Redacted (PDF)
19 Packet Pg. 340
City of El Centro
Meeting of the City Council
June 7, 2022
REJECTION OF CLAIM – FERNANDO VALENZUELA
Claim for Damages against a Governmental Entity
(2 Pages)
The above attachment has been included with the agenda packets distributed to members of the Governing Board. It has not been included with other agenda packets. A copy of this document is available for review at Office of the City Clerk.

19.a
Packet Pg. 341 Attachment: Rejection of Claim Cover Letter - Fernando Valenzuela (5560 : Notification of rejection of claim of Fernando Valenzuela by Carl

19.c
Packet Pg. 342 Attachment: Claim - Fernando Valenzuela_Redacted (5560 : Notification of rejection of claim of Fernando Valenzuela by Carl Warren & Co.,

19.c
Packet Pg. 343 Attachment: Claim - Fernando Valenzuela_Redacted (5560 : Notification of rejection of claim of Fernando Valenzuela by Carl Warren & Co., City Council of the City of El Centro Meeting: 06/07/22 11:30 AM 1275 Main Street Department: City Clerk's Office
El Centro, CA 92243 Category: Informational
Prepared By: Aimee Osuna
SCHEDULED Department Head: Norma Wyles
INFORMATION ITEM (ID # 5555) DOC ID: 5555
Received and filed notification of Southern California Gas Company's request for rate increase Application A.22-05-015 Received and filed notification of Southern California Gas Company's request for rate increase Application A.22-05-015
ATTACHMENTS:
• So Cal Gas Application Filing A.22-05-015 (PDF)
20 Packet Pg. 344

20.a
Packet Pg. 345 Attachment: So Cal Gas Application Filing A.22-05-015 (5555 : Southern California Gas Company Application Filing A.22-05-015)

20.a
Packet Pg. 346 Attachment: So Cal Gas Application Filing A.22-05-015 (5555 : Southern California Gas Company Application Filing A.22-05-015)

El Centro City CouncilJune 7, 2022

El Centro City Council
June 7, 2022