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RECORDING REQUESTED BY
California Community Housing Agency
WHEN RECORDED RETURN TO:
Orrick, Herrington & Sutcliffe LLP
405 Howard Street
San Francisco, CA 94105
Attention: Jesse Albani
THIS DOCUMENT IS EXEMPT FROM RECORDING FEES PURSUANT TO SECTION 27383 OF THE
CALIFORNIA GOVERNMENT CODE
PUBLIC BENEFIT AGREEMENT
By and Between
CALIFORNIA COMMUNITY HOUSING AGENCY
and
CITY OF SAN BERNARDINO
_________________________
Relating to
CALIFORNIA COMMUNITY HOUSING AGENCY
ESSENTIAL HOUSING REVENUE BONDS
(SB LIGHT APARTMENTS)
4160-9700-5108.2
PUBLIC BENEFIT AGREEMENT
This PUBLIC BENEFIT AGREEMENT (“ Agreement”), dated July ______, 202 5 and effective as of the Effective Date (as hereinafter defined), by and between the CALIFORNIA COMMUNITY HOUSING AGENCY, a joint exercise of powers agency organized and existing under the laws of the State of California (including its successors and assig ns, “Owner”), and the CITY OF San Bernardino (“Host”).
BACKGROUND
WHEREAS, Owner is a public entity organized pursuant to a joint exercise of powers agreement (the “ JPA Agreement ”) among a number of California counties, cities and special districts, including Host, and is validly existing under the laws of the State of California, in particular, Title 1, Division 7, Chapter 5 of the California Government Code (the “ Joint Exercise of Powers Act”); and
WHEREAS, Owner and Host have determined that there is an undersupply of affordable housing for “middle -income” residents of Host and wish to provide for the public good and promote the health and welfare of such residents by making dwelling units available to middl e- income tenants according to income criteria to be established by Owner from time to time; and WHEREAS, pursuant to the Joint Exercise of Powers Act and the JPA Agreement, Owner proposes to issue Bonds (as hereinafter defined) to finance Owner’s acquisition, construction, and development of certain new -construction multifamily rental housing projects (the “Project”) located at 211 West 2nd Street, in the City of San Bernardino, California, on the real property sites described in Exhibit A hereto; and
WHEREAS, the Projects will provide public benefit through the production, preservation and/or protection of below -market-rate rental housing, pursuant to a Regulatory Agreement and Declaration of Restrictive Covenants (the “ Regulatory Agreement”) by and between Owner and Bond Trustee (as hereinafter defined); and
WHEREAS, Owner intends to make a contribution to Host by (a) paying or causing to be paid to Host Fifty percent (50%) of excess revenues derived from the Projects after payment in full of related debt, taxes and other expenses.
AGREEMENT
In consideration of the mutual covenants herein contained, and such other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, Owner and Host mutually agree as follows:
Section 1. Definitions. Capitalized terms used in this Agreement shall have the meanings assigned to them in this Section 1; capitalized terms used in this Agreement and not defined in this Section 1 or elsewhere herein shall have the meanings assigned to them in the Indenture (herein defined).
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(a) “Appraised Value ” – the value of the Gifted Property as determined by an independent appraiser, selected by Owner, regularly engaged in making appraisals of property similar to the Gifted Property.
(b) “Bonds” – bonds of the Owner issued to finance its acquisition of the Projects and related transaction costs, bearing the designation “Essential Housing Revenue Bonds ( SB Light Apartments),” issued in one or more series or sub -series with such series and sub -series designations as may be set forth in the Indenture, including subordinate bonds which may be placed with Projects Administrator, or an affiliate thereof, if applicable , and including bonds issued to refund the Bonds, if applicable.
(c) “Bond Trustee ” – Wilmington Trust, National Association or any successor trustee under the Indenture.
(d) “Closing” – shall have the meaning set forth in Section 8 of this Agreement. (e) “Conveyance” – that transaction or series of transactions by which Owner shall transfer, bargain, sell and convey any and all right, title or interest in and to the Gifted Property. (f) “County” – the County of San Bernardino.
(g) “Effective Date ” – shall have the meaning set forth in Section 12 of this Agreement.
(h) “Extraordinary Costs and Expenses ” – shall have the meaning set forth in the Indenture.
(i) “Fair Market Value” – the price, in no event less than the Purchase Gift Price, a willing purchaser and a willing seller in an arm’s length transaction would agree upon as a fair sales price that could reasonably be expected to be received upon the sale of the Gifted Property, as determined by Owner pursuant to such means as Owner shall deem suitable for such purpose; provided that Owner’s determination of the manner of sale and Fair Market Value shall be final and incontestable.
(j) “Indenture” – the Trust Indenture between Owner, as issuer, and the Bond Trustee, as trustee, pursuant to which the Bonds are issued. (k) “Gift” – has the meaning set forth in Section 2 of this Agreement. (l) “Gift Term Commencement Date ” – the date of Bonds payoff from the date of issuance of the Bonds.
(m) “Gift Term” – shall commence on the Gift Term Commencement Date and, if not exercised, shall terminate at 11:59 p.m. local time on the date that is fifty-five (55) years from the Gift Term Commencement Date.
(n) “Gifted Property” – means all of Owner’s right, title and interest (which includes fee simple title to the real property) in and to all property and assets used in or otherwise related
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to the operation of the Projects including, without limitation, all real property and interests in real property, all tangible and intangible personal property including furniture, fixtures, equipment, supplies, intellectual property, licenses, permits, ap provals, and contractual rights of any kind or nature together with the right to own and carry on the business and operations of the Projects. (o) “Outstanding” – with respect to Bonds, as of any given date, all Bonds which have been authenticated and delivered by Bond Trustee under the Indenture, except: (i) Bonds cancelled at or prior to such date or delivered to or acquired by Bond Trustee at or prior to such date for cancellation; (ii) Bonds deemed to be paid in accordance with Article VIII of the Indenture; and (iii) Bonds in lieu of which other Bonds have been authenticated under the Indenture. (p) “Owner Indemnified Parties ” – Owner and each of its officers, governing members, directors, officials, employees, attorneys, agents and members. (q) “Projects Administrator ” – The Code Solution, Inc./Betula Lenta, Inc. and its successors and assigns.
(r) “Projects Administrator Sale ” – a sale of the Gifted Property at its Appraised Value to Projects Administrator in accordance with Section 6(c) of this Agreement. (s) “Projects Debt” – any debt secured by the Projects and incurred to finance or refinance Owner’s acquisition of the Projects and related transaction costs, including any portion of the Bonds and any bonds, notes or other indebtedness issued by Owner to improve the Projects or to refund the Bonds in whole or in part.
(t) “Purchase Gift Price” – the sum of the amounts set forth below:
i. an amount sufficient to either prepay, redeem in whole or fully defease for redemption on the earliest call date all Projects Debt; plus ii. any fees or other amounts not identified in clause (i) that may be necessary to effect the complete release from and discharge of any lien, mortgage or other encumbrance on the Gifted Property (the amounts in clauses (i) and (ii) being collectively referred to as the “Satisfied Indebtedness”); plus iii. any amounts due to Owner (including the Owner Indemnified Persons, as provided in the Indenture), the Bond Trustee or any predecessor or successor, or any other Person under any indenture, loan agreement, bond, note or other instrument relating to any Sati sfied Indebtedness (including, without limitation, indemnification amounts, Owner’s Extraordinary Costs and Expenses, recurrent and extraordinary fees and expenses, and reimbursable costs and expenses of any kind or nature); plus iv. Transaction Costs; minus
v. Any funds held by or for Owner under the Indenture applied to the retirement of Projects Debt, but, for avoidance of doubt, the Owner shall retain amounts in the Extraordinary Expense Fund and may, in addition, retain such portion of moneys in other funds under the Indenture it deems reasonable as a reserve against future costs
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and expenses of the type described in subparagraph (iii) above, which amount shall be final and incontestable.
(u) “Third-Party Sale” - a sale of the Gifted Property to a third -party purchaser at Fair Market Value.
(v) “Transaction Costs” – to the extent not otherwise described herein, any costs or expenses of any kind or nature associated with or incurred by Owner and Host in connection with the consummation of the Conveyance, any refinancing of the Projects or assumption of Projects Debt regardless of whether such costs and expenses are customarily borne by the seller or purchaser in any such transaction, including but not limited to taxes, recording fees and other impositions, Owner’s and Host’s legal and other professional fees, fees f or verification agents, bidding agents, escrow agents, custodians or trustees, assumption fees, prepayment fees, the cost of the appraisal (regardless of whether the Appraised Value is ultimately determined to be the Fair Market Value), surveys, inspections, title commitments, title insurance premiums and other title - related fees, and all amounts required for indemnification of Owner, Bond Trustee and Projects Administrator.
Section 2. Economic Contributions and Gift . To provide a public benefit and economic contribution to Host as described in the Recitals to this Agreement, Owner hereby (a) agrees to pay or cause to be paid to Host Fifty percent (50%) o f the amounts held in the Excess Revenue Fund pursuant to Section 3 hereof and the Indenture, and
(b) agrees to fund $1 Million through a CFD bond to the Host for improvements to Meadowbrook Park or an adjacent park upon the choosing of the Host. (c) grants to a Non-Profit with a housing initiative of the Project Administrators choosing the Gift (the “Gift”) with respect to the Gifted Property, as more fully described in Section 6 of this Agreement.
Section 3. Excess Revenues.
(a) Owner shall cause Bond Trustee to create an account (the “ Excess Revenue Fund”) under the Indenture into which surplus cash from the Projects will be deposited following payment of all other obligations and expenses as required pursuant to the Indenture. Upon exercise of the Gift as provided herein, Bond Trustee shall transfer the balance of the Excess Revenue Fund to Host in connection with the Conveyance.
(b) On the first date upon which no Bonds or other Projects Debt remains Outstanding, which may be the date of the Conveyance, any and all monies in the Excess Revenue Fund shall be transferred by Bond Trustee to Host, to be applied by Host in its sole discretion.
Thereafter, for so long as Owner remains the owner of the Projects and there is no Projects Debt outstanding, Owner shall pay or cause to be paid to Host, all Projects-related revenue in excess of Projects-related expenses, to be applied by Host in its sole discretion. At Host’s written request
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and expense, Owner will appoint a third-party paying agent or trustee to handle payment of excess revenues to Host following retirement of all Bonds and all Projects Debt. (c) Upon any Conveyance of the Gifted Property by Owner pursuant to the terms hereof, Owner shall apply the proceeds of the sale (i) to redeem the Bonds then Outstanding, (ii) to prepay, redeem in whole or fully defease any other Projects Debt, and (iii) to pay any fees or other amounts listed in (iii) and (iv) of the Purchase Gift Price definition.
Section 4. Gift Term. The Gift shall become effective on the Gift Term Commencement Date and may be exercised during the Gift Term at Project Administrator’s sole discretion. Owner agrees that it will not enter into any agreement to sell all or any part of the Gifted Property during the Gift Term other than as may be required by the Indenture (e.g., in the event of default), without the specific written request of Project Administrator , which consent shall not be unreasonably withheld, and, if Projects Debt is outstanding, delivery of an Opinion of Bond Counsel to Owner substantially to the effect that such sale will not, in and of itself, adversely affect the exclusion of interest on the tax-exempt Bonds from gross income for purposes of federal income taxation. Upon the expiration of the Gift Term, Owner shall use its best efforts to sell the Gifted Property at Fair Market Value. Following the expiration of the Gift Term, Project Administrator shall not be precluded from purchasing all or any portion of the Gifted Property from Owner at a price and on the terms agreed upon by Project Administrator and Owner, but Owner shall not be precluded from seeking or agreeing to sell, or consummating the sale of, all or any portion thereof to any third party.
Section 5. Intentionally BLANK
Section 6. Fixing of Gift and Purchase Price; Contractual Obligation. (a) Gift. Owner shall gift the respective Projects to a non -profit organization with housing as its prime initiative, at a time which is at a minimum of continued operation of the respective Projects for a period of not less than the payoff of the Bonds, when they have matured and been paid down.
(b) Intentionally BLANK
Section 7. Terms of Conveyance of Gifted Property.
(a) The Conveyance shall be in the nature of a grant deed in which Owner shall deliver one or more deeds, bills of sale, or other instruments of transfer without recourse or warranty of any kind or nature.
(b) The Gifted Property will be conveyed in AS IS CONDITION, WITH ALL FAULTS, and without representations or warranties of any kind or nature as to the condition of the Gifted Property.
(c) There shall be no partial transfer and that, upon consummation of the Conveyance, Owner shall be fully divested of any and all right, title or interest in and to the Gifted Property.
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Section 8. Closing of Conveyance of Gifted Property. The closing of the Conveyance to the Project Administrator (“Closing”) shall take place not later than the ninetieth (90th) calendar day following the date on which Owner and Project Administrator agree on the terms of the purchase agreement pursuant to Section 6(a) hereof at such time within normal business hours and at such place as may be designated by Project Administrator. (a) Prorations. All general and special real property taxes and assessments, and rents shall be prorated as of the Closing, with Host responsible for all such items to the extent arising or due at any time following the Closing. General real property taxes shall be prorated at the time of Closing based on the net general real property taxes for the year of Closing. (b) Limitation. If, after taking into account all adjustments and prorations, the net amount due Owner at Closing is less than the Purchase Gift Price, it is fully understood and agreed that in no event shall Owner receive proceeds less than the amount necessary to fully retire or defease the Bonds and otherwise satisfy all of the payments constituting the components of the Purchase Gift Price and the prorations in Section 8(a) hereof. (c) Possession. Physical possession of the Gifted Property shall be delivered to Project Administrator at the time of Closing.
Section 9. Gifted Property: Title Insurance, Title Defects. (a) Within fifteen (15) business days after it receives an Exercise Notice specifying Project Administrator ’s intent to purchase the Gifted Property, Owner shall provide Project Administrator with a title commitment (the “Title Commitment”) in the customary ALTA form of Standard Owner’s Policy of Title Insurance in Project Administrator ’s favor, for the amount equivalent to the Purchase Gift Price (whichever is applicable), with a commitment to insure good and marketable fee simple title to the Gifted Property in Project Administrator, issued by a title insurance company licensed to do business in the State of California and acceptable to Project Administrator (the “ Title Company ”). The policy shall show the status of title to the Gifted Property and show all exceptions, including easements, restrictions, rights -of-way, covenants, reservations, and other conditions of record, if any, affecting the subject real estate. Accompanying the Title Commitment, Owner shall also have Title Compan y furnish Project Administrator with true, correct, complete, and legible copies of all documents affecting title to the subject real estate.
The cost and expense of such Standard Owner’s Title Commitment shall be payable as a Transaction Cost. Project Administrator shall pay the additional premium due if Project Administrator elects to obtain an extended coverage policy of title insurance and/or extended coverage endorsements. Owner shall cooperate with Project Administrator , at no expense to Owner, by providing an affidavit to Title Company to induce Title Company to issue to Project Administrator at Closing a “GAP” endorsement to the Title Commitment showing the effective date of the Title Commitment to be the time and date of Closing. (b) If the Title Commitment shows exceptions to title which are unacceptable to Project Administrator, Project Administrator shall, within ten (10) business days after receipt of the Title Commitment and not later than twenty (20) business days before the date for Closing, notify Owner of such fact and Owner shall have twenty (20) business days after Owner receives Project Administrator’s written objections to cure such defects and to present a Title Commitment
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on the basis of which Closing may occur or to notify Project Administrator that Owner will not cure same. If Owner cannot or will not cure such defects within such twenty (20) business day period and thereafter convey title to the Gifted Property as required in this Agreement, then Project Administrator shall have the right (at Project Administrator’s Gift) to either:
(i) Rescind the Exercise Notice and Owner may proceed to close the sale under the terms of a Third-Party Sale, if there is a third-party offer; or (ii) Accept whatever title Owner can or will convey, without reduction in the purchase price because of such title defects. Any exceptions to title disclosed on the Title Commitment to which Project Administrator does not timely object to in writing or to which Project Administrator objects but thereafter accepts by Closing shall be included as a “Permitted Exception.”
Section 10. Assignment of Gift. Project Administrator shall not assign the Gift without the prior written consent of Owner, which consent shall not be unreasonably withheld, and delivery of an Opinion of Bond Counsel to Owner substantially to the effect that such assignment will not, in and of itself, adversely affect the exclusion o f interest on the tax -exempt Bonds from gross income for purposes of federal income taxation. Notwithstanding the foregoing, neither party to this Agreement shall assign its interests, obligations, rights and/or responsibilities under this Agreement without the prior written consent of the other party.
Section 11. Recording of Agreement . This Agreement, and any amendment thereto, shall be recorded with the recorder’s office of the County. Project Administrator shall cooperate with Owner to remove any such recorded Agreement or amendment thereto from title to the Gifted Property upon Owner’s reasonable request therefor and, in any event, by no later than the earliest of (i) a Conveyance or (ii) the expiration of the Gift Term. In the event that, within said time, Project Administrator fails to so cooperate and provide its original signature to a termination of such recorded Agreement or amendment thereto, then Project Administrator hereby irrevocably constitutes and appoints Owner as Project Administrator’s true and lawful attorney (and agent-in- fact) strictly for the purpose of executing in Project Administrator’s name any such termination.
Section 12. Conditions Precedent; Effective Date . Effectiveness of this Agreement shall be conditioned upon satisfaction of each of the following conditions:
(a) Issuance of the Bonds;
(b) Purchase of the Gifted Property by Owner as evidenced by a grant deed or comparable instrument; and
(c) Recording in the real property records of the County of this Agreement and the Regulatory Agreement.
The first date upon which each of the above conditions is satisfied shall be the effective date of this Agreement (the “Effective Date”).
Section 13. No Individual Liability.
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(a) The Owner shall not be directly, indirectly, contingently or otherwise liable for any costs, expenses, losses, damages, claims or actions, of any conceivable kind on any conceivable theory, under or by reason of or in connection with this Agreement or any sale or Conveyance or failure or price thereof or application of proceeds thereof, except only as to moneys available therefor under and in accordance with the Indenture or this Agreement. (b) No Owner Indemnified Person shall be individually or personally liable for the payment of any sum hereunder or be subject to any personal liability or accountability by reason of the execution and delivery of this Agreement, or by any proceedings for the s ale or Conveyance of the Projects or the determination of the Purchase Gift Price, or Project Administrator’s exercise or waiver of same, or otherwise except in the case of such Owner Indemnified Person’s own willful misconduct.
(c) No officer or employee of Project Administrator shall be personally liable to Owner, or any successor in interest, in the event of any default or breach by Project Administrator of any obligation of the terms of this Agreement. No officer or employee of Owner shall be personally liable to Project Administrator, or any successor in interest, in the event of any default or breach by Owner of any obligation of the terms of this Agreement.
Section 14. Notices, Governing Law, Binding Effect and Other Miscellaneous Provisions.
(a) Notices. All notices provided for in this Agreement shall be in writing and shall be given to Owner or Host at the address set forth below or at such other address as they individually may specify thereafter by written notice in accordance herewith:
If to Owner: California Community Housing Agency
1400 W. Lacey Blvd., Building 1
Hanford, California 93230
Attention: Michael LaPierre
With a copy to: Betula Lenta, Inc (TCS)
800 West 6th Street, Suite 1250
San Bernardino, CA 90017
Attention: David Park
If to Host: City of San Bernardino
Office of _________________
290 North D Street
San Bernardino, CA 92401
Attention: _______________
Such notices shall be deemed effective upon actual delivery or upon the date that any such delivery was attempted and acceptance thereof was refused, or if mailed, certified return receipt requested, postage prepaid, properly addressed, three (3) days after posting.
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(b) Consents and Approvals. All consents and approvals and waivers required or asserted hereunder shall be in writing, signed by the party from whom such consent, approval, waiver or notice is requested.
(c) Maintenance of Membership. In order to preserve the Projects’s exemption from property tax, Host agrees to remain a member of the Owner joint powers authority so long as any Bonds remain Outstanding.
(d) Pronouns. Where appropriate to the context, words of one gender include all genders, and the singular includes the plural and vice versa. (e) Amendments. This Agreement may not be modified except in a written instrument signed by Host and Owner.
(f) Complete Agreement; Benefits. This Agreement together with all schedules and exhibits attached hereto and made part thereof supersedes all previous agreements, understandings and representations made by or between the parties hereto. This Agreement shall inure solely and exclusively to the benefit of the Owner and Host, and no other party shall have any right, remedy or claim under or by reason of this Agreement. (g) Governing Law . This Agreement shall be governed by and construed in accordance with the laws of the State of California, without regard to conflicts of law principles.
All claims of whatever character arising out of this Agreement, or under any statute or common law re lating in any way, directly or indirectly, to the subject matter hereof or to the dealings between Owner and any other party hereto, if and to the extent that such claim potentially could or actually does involve Owner, shall be brought in any state or fed eral court of competent jurisdiction located in Kings County, California. By executing and delivering this Agreement, each party hereto irrevocably: (i) accepts generally and unconditionally the exclusive jurisdiction and venue of such courts; (ii) waives any defense of forum non-conveniens; and (iii) agrees not to seek removal of such proceedings to any court or forum other than as specified above. The foregoing shall not be deemed or construed to constitute a waiver by Owner of any prior notice or procedural requirements applicable to actions or claims against or involving governmental units and/or political subdivisions of the State of California that may exist at the time of and in connection with such matter.
(h) Subordination. This Agreement shall be subordinate to any claim, pledge or interest in the Gifted Property securing the Bonds or any Projects Debt. (i) Legal Construction. In case any one or more of the provisions contained in this Agreement shall for any reason be held by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such invalid provision shall be deemed severable, and shall not affect the validity or enforceability of any other provisions of this Agreement, all of which shall remain fully enforceable.
(j) Conflicts. For sake of clarity, Bond Counsel represents the Owner in the matters covered by this Agreement, and does not represent or owe any attorney -client or similar duty to Host with respect to any such matters. If Bond Counsel has represented, currently
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represents or in the future represents Host in any other matter, no conflict -of-interest shall be deemed to exist on that account, and to the extent a conflict is considered to exist anyway or arises, both Host and Owner waive any such conflict and consent to such representation of both Host and Owner.
(k) Term. This Agreement shall terminate upon the earliest of (i) Conveyance or (ii) the expiration of the Gift Term in accordance with this Agreement. (l) Captions. The captions used in this Agreement are solely for convenience and shall not be deemed to constitute a part of the substance of the Agreement for purpose of its construction.
(m) Counterparts. This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original; and all such counterparts shall together constitute but one and the same Agreement.
[SIGNATURE PAGE TO FOLLOW]
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IN WITNESS WHEREOF , the parties have executed this Agreement as of the date set forth above.
CALIFORNIA COMMUNITY HOUSING
AGENCY
By:
________________
CITY OF San Bernardino
By
:
_______________________________
_
Signature Page to Public Benefit Agreement
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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 )
County of ______________________ )
On _________________________, before me, ,
(insert name and title of the officer)
Notary Public, personally appeared ,
who proved to me on the basis of satisfactory evidence to be the person(s) whose name(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 (Seal)
EXHIBIT “A”
ALL THAT CERTAIN REAL PROPERTY SITUATED IN THE COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS:
THAT PORTION OF BLOCK 2 OF THE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, AS PER PLAT RECORDED IN BOOK 7, PAGES 1 OF MAPS, RECORDS OF SAID COUNTY, LYING SOUTHERLY OF 2ND STREET, 82.5 FEET WIDE, EASTERLY OF ARROWHEAD AVENUE, 82.5 FEET WIDE, (FORMERLY CRAFTON STREET), WESTERLY OF MOUNTAIN VIEW AVENUE, 82.5 FEET WIDE, (FORMERLY CAMEL STREET) AS SHOWN ON SAID PLAT DESCRIBED
ABOVE NORTHERLY OF KING STREET, (FORMERLY BRIDGE STREET) AS SHOWN ON BEDFORD BROTHERS SUBDIVISION PER PLAT RECORDED IN BOOK 8, PAGE 30 OF MAPS, RECORDS OF SAID COUNTY.
EXCEPT THAT PORTION OF SAID BLOCK 2, DESCRIBED IN THE QUITCLAIM FROM ROY T. COE AND HELEN C. COE, HUSBAND AND WIFE, TO GEORGE EDWARD COE AND ROYNA MAE COBB RECORDED AUGUST 24, 1967 IN BOOK 6878, PAGE 738, OFFICIAL RECORDS OF SAID COUNTY, DESCRIBED AS FOLLOWS:
THAT UNSUBDIVIDED PORTION OF LOTS 4 AND 5, IN CITY BLOCK 2, AS RECORDED IN BOOK 7, PAGE 1 OF MAPS, OFFICIAL RECORDS OF SAN BERNARDINO COUNTY, CALIFORNIA, DESCRIED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 5, THENCE SOUTH 225 FEET; THENCE NORTHEASTERLY TO A POINT 50 FEET SOUTH AND 184 FEET EAST OF THE POINT OF BEGINNING; THENCE NORTHEASTERLY TO THE NORTHEAST CORNER OF SAID LOT 5; THENCE WEST TO THE POINT OF BEGINNING.
A PORTION OF SAID LAND IS ALSO SHOWN AS LOTS 1 THROUGH 10, INCLUSIVE, OF BLOCK 4, AND
THE ALLEY VACATED ADJACENT TO SAID LOTS, OF BEDFORD BROTHERS SUBDIVISION, AS PER PLAT RECORDED IN BOOK 3, PAGE 84 OF MAPS AND BOOK 8, PAGE 30 OF MAPS, RECORDS OF SAID COUNTY.
Assessor’s Parcel Number: 0135-281-22
Physical Address: 211 West 2nd Street