Stradling Yocca Carlson & Rauth
Draft of 9/9/2026
4920-3108-4746v6/022432-0051
RECORDING REQUESTED BY:
Moreno Valley Public Financing Authority
AND WHEN RECORDED RETURN TO:
Stradling Yocca Carlson & Rauth
660 Newport Center Drive, Suite 1600
Newport Beach, California 92660
Attention: Brian Forbath, Esq.
[Space above for Recorder’s use.]
This First Amendment to Assignment Agreement is recorded for the benefit of the City of Moreno Valley and is exempt from California documentary transfer tax pursuant to Section 11928 of the California Revenue and Taxation Code and from recording fees pursuant to Sections 6103, 27383 and 27388.1 (a)(2)(D) and (d)(2) of the California Government Code.
FIRST AMENDMENT TO ASSIGNMENT AGREEMENT
Dated as of November 1, 2026
amending and supplementing the
ASSIGNMENT AGREEMENT
dated as of August 1, 2024
by and between
MORENO VALLEY PUBLIC FINANCING AUTHORITY
and
WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Trustee
Relating to
$_______
MORENO VALLEY PUBLIC FINANCING AUTHORITY
LEASE REVENUE BONDS, SERIES 2026A
4920-3108-4746v6/022432-0051 1
FIRST AMENDMENT TO ASSIGNMENT AGREEMENT
THIS FIRST AMENDMENT TO ASSIGNMENT AGREEMENT (this “First Amendment to Assignment Agreement”), executed and entered into as of November 1, 2026, is by and between the MORENO VALLEY PUBLIC FINANCING AUTHORITY, a joint exercise of powers entity organized and existing under and by virtue of the laws of the State of California (the “Authority”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States, as Trustee (the “Trustee”) and amends and supplements the Assignment Agreement, dated as of August 1, 2024 (the “2024 Assignment Agreement”), by and between the Authority and the Trustee, recorded on August 6, 2024 in the Official Records of the County of Riverside as Instrument No. 2024-0234309 (as supplemented and amended by this First Amendment to Assignment Agreement, the “Assignment Agreement”).
WITNESSETH:
WHEREAS, the Authority previously issued its Moreno Valley Public Financing Authority Lease Revenue Refunding Bonds, Series 2024A to refund the outstanding Moreno Valley Public Financing Authority Lease Revenue Refunding Bonds, Series 2014, and in connection therewith, the City of Moreno Valley (the “City”) leased certain real property and the improvements located thereon (the “Existing Property”) to the Authority pursuant to a Ground Lease, dated as of August 1, 2024 (the “2024 Ground Lease”), recorded on August 6, 2024 in the Official Records of the County of Riverside as Instrument No. 2024-0234307, and the City subleased the Existing Property back from the Authority pursuant to a Lease Agreement, dated as of August 1, 2024 (the “2024 Lease Agreement”) recorded on August 6, 2024 in the Official Records of the County of Riverside as Instrument No. 2024-0234308; and
WHEREAS, the City and the Authority desire to finance the costs of the acquisition, construction and/or installation of certain City facilities, including but not limited to the development of the Public Safety Campus project and certain other public capital improvements of the City (the “2026 Project”); and
WHEREAS, in order to finance the 2026 Project, the City will lease certain additional real property and the improvements located thereon (together with the Existing Property, the “Property”) to the Authority pursuant to the 2024 Ground Lease, as amended by the First Amendment to Ground Lease dated as of November 1, 2026, and the City will sublease the Property back from the Authority pursuant to the 2024 Lease Agreement, as amended by the First Amendment to Lease Agreement dated as of November 1, 2026 (as amended, the “Lease Agreement”); WHEREAS, the Authority and the Trustee desire to amend the 2024 Assignment Agreement to include all of the Property in Exhibit A hereto;
WHEREAS, all acts, conditions and things required by law to exist, to have happened and to have been performed precedent to and in connection with the execution and entering into of this First Amendment to Assignment Agreement do exist, have happened and have been performed in regular and due time, form and manner as required by law, and the parties hereto are now duly authorized to execute and enter into this First Amendment to Assignment Agreement; 4920-3108-4746v6/022432-0051 2
NOW, THEREFORE, in consideration of the premises and of the mutual agreements and covenants contained herein and for other valuable consideration, the parties hereto do hereby agree as follows:
Section 1. Amendment to Exhibit A of 2024 Assignment Agreement. Exhibit A to the 2024 Assignment Agreement is hereby amended and restated in its entirety and replaced with Exhibit A hereto.
Section 2. Conditions. This First Amendment to Assignment Agreement shall impose no obligations upon the Trustee beyond those expressly provided in the Indenture (as defined in the Lease Agreement).
Section 3. Further Assurances. The Authority shall make, execute and deliver any and all such further resolutions, instruments and assurances as may be reasonably necessary or proper to carry out the intention or to facilitate the performance of this First Amendment to Assignment Agreement, and for the better assuring and confirming to the Trustee, for the benefit of the owners of the Bonds, the rights intended to be conveyed pursuant hereto.
Section 4. Effectiveness of First Amendment to Assignment Agreement. This First Amendment to Assignment Agreement shall be effective upon the issuance of the Series 2026A Bonds (as defined in the Lease Agreement).
Section 5. Governing Law. THIS FIRST AMENDMENT TO ASSIGNMENT
AGREEMENT SHALL BE GOVERNED EXCLUSIVELY BY THE PROVISIONS HEREOF AND
BY THE LAWS OF THE STATE OF CALIFORNIA AS THE SAME FROM TIME TO TIME EXIST.
Section 6. Execution. This First Amendment to Assignment Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all together shall constitute but one and the same First Amendment to Assignment Agreement. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]
4920-3108-4746v6/022432-0051 3
IN WITNESS WHEREOF, the Authority and the Trustee have caused this First Amendment to Assignment Agreement to be executed by their respective officers thereunto duly authorized, all as of the day and year first above-written.
MORENO VALLEY PUBLIC FINANCING
AUTHORITY
By:
Brian Mohan
Executive Director
ATTEST:
M. Patricia Rodriguez, MMC
Secretary
WILMINGTON TRUST, NATIONAL
ASSOCIATION, as Trustee
By:
___________
___________
4920-3108-4746v6/022432-0051
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA )
) ss.
COUNTY OF RIVERSIDE )
On ___________________ before me, ____________________________________, Notary Public, personally appeared _____________________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose names(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal
SIGNATURE OF NOTARY PUBLIC
4920-3108-4746v6/022432-0051
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA )
) ss.
COUNTY OF __________ )
On ___________________ before me, __________________________________, Notary Public, personally appeared _____________________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose names(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.
WITNESS my hand and official seal
SIGNATURE OF NOTARY PUBLIC
4920-3108-4746v6/022432-0051 A-1
EXHIBIT A
DESCRIPTION OF THE PROPERTY
Real property in the City of Moreno Valley, County of Riverside, State of California, described as follows:
ALL OF PARCELS 2, 3, 4 AND 5 OF PARCEL MAP 17864, IN THE CITY OF MORENO
VALLEY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 129, PAGES 79 THROUGH 82, INCLUSIVE OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
ALSO INCLUDING THAT PORTION OF PARCEL 1 OF SAID PARCEL MAP 17864, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF SAID PARCEL 1; THENCE ON THE SOUTHERLY LINE OF SAID PARCEL 1, SOUTH 88° 40' 53" WEST, 509.84 FEET TO THE NORTHWEST CORNER OF SAID PARCEL 5; THENCE NORTH 00° 06' 25" WEST, 60.02 FEET; THENCE NORTH 88° 40' 53" EAST, 509.84 FEET TO A POINT ON THE EASTERLY LINE OF SAID PARCEL 1, SAID POINT ALSO BEING ON THE WESTERLY SIDELINE OF FREDERICK STREET; THENCE SOUTHERLY ON THE EASTERLY LINE SOUTH 00° 06' 28" EAST, 60.02 FEET TO THE POINT OF BEGINNING.
[LEGAL DESCRIPTIONS OF THE FOLLOWING PROPERTIES TO COME:] • Fire Station #48 (APN 260460009)
• Fire Station #99 (APN 487370018)
• Animal Shelter (APNs 297210008, 297210009, 297210010) • Fire Station #65 (APN 485042029)
• Fire Station #91 (APNs 308030018, 308030019)
• Public Safety Building (EOC) (APN 297140020)
• Fire Station #6 (APN 291650017)
• Public Safety Building (APNs 297140020, 297140045, 297140043) • Fire Station #2 (APN 481322044)
• Fire Station #58 (APN 488330001)
• Corporate Yard (APNs 486170018, 486170019, 486170020, 486170026, 486170029, 486170031, 486170033)
• Conference and Recreation Center (APNs 297140043, 297140046, 297140047) • New Public Safety Campus (APNs 478100012, 478100035, 478110001, 478110002, 478110003,478110004, 478110005, 478110006, 478110007, 478120001, 478120002, 478120005, 478120006 and 478120025)