2023-162473FREE RECORDING REQUESTED
PURSUANT TO GOV. CODE § 27383
Recording Requested By:
City of Encinitas
Development Services Department
505 S. Vulcan Avenue
Encinitas, CA 92024
And When Recorded Mail To:
City of Encinitas
City Clerk's Office
505 S. Vulcan Avenue
Encinitas, CA 92024
DOC# 2023-0162473
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ASSUMPTION AND CONSENT AGREEMENT
THIS ASSUMPTION AND CONSENT AGREEMENT ("Assumption Agreement") is
dated as of the 3± day of M&q , 2023, by and among the City of
Encinitas ("City"), and David Ri and Santistevan and Marjorie Ellwood Santistevan,
trustees of the David and Molly Santistevan Living Trust dated February 7, 2017
("Assignee or Borrower").
RECITALS
A. Santiara, LLC, a California limited liability company ("Assignor"), and the
City are all of the current parties to (collectively, the "Density Bonus Agreements"): (i) that
certain Affordable Housing Regulatory Agreement (Density Bonus) dated as of November
70 2013, and recorded in the Office of the Recorder of the County of San Diego, State of
California on November 7, 2013, as Instrument No. 2013-0665718; and (ii) that certain
Affordable Housing Regulatory Agreement (Density Bonus) dated as of November 7, 2013,
and recorded in the Office of the Recorder of the County of San Diego, State of California
on November 7, 2013, as Instrument No. 2013-0665719.
B. The Assignee desires to acquire the real property ("Property") described in
the Density Bonus Agreements and Assignee desires to assume all of the interest, rights
and responsibilities of Assignor under the Density Bonus Agreements.
C. Assignee has requested the City document its consent to: (i) the Assignee's
acquisition of the Property; and (ii) the assumption by Assignee of Assignor's obligations
under the Density Bonus Agreements. The City hereby consents to such conveyance and
assignment and assumption on the terms and conditions set forth in this Assumption
Agreement.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the parties hereto agree as follows:
FREE RECORDING REQUESTED
PURSUANT TO GOV. CODE § 27383
Recording Requested By:
City of Encinitas
Development Services Department
505 S. Vulcan Avenue
Encinitas, CA 92024
And When Recorded Mail To:
City of Encinitas
City Clerk's Office
505 S. Vulcan Avenue
Encinitas, CA 92024
ASSUMPTION AND CONSENT AGREEMENT
THIS ASSUMPTION AND CONSENT AGREEMENT ("Assumption Agreement") is
dated as of the ,` day of M a. , 2023, by and among the City of
Encinitas ("City"), and David Ric and Santistevan and Marjorie Ellwood Santistevan,
trustees of the David and Molly Santistevan Living Trust dated February 7, 2017
("Assignee or Borrower").
RECITALS
A. Santiara, LLC, a California limited liability company ("Assignor"), and the
City are all of the current parties to (collectively, the "Density Bonus Agreements"): (i) that
certain Affordable Housing Regulatory Agreement (Density Bonus) dated as of November
7, 2013, and recorded in the Office of the Recorder of the County of San Diego, State of
California on November 7, 2013, as Instrument No. 2013-0665718; and (ii) that certain
Affordable Housing Regulatory Agreement (Density Bonus) dated as of November 7, 2013,
and recorded in the Office of the Recorder of the County of San Diego, State of California
on November 7, 2013, as Instrument No. 2013-0665719.
B. The Assignee desires to acquire the real property ("Property") described in
the Density Bonus Agreements and Assignee desires to assume all of the interest, rights
and responsibilities of Assignor under the Density Bonus Agreements.
C. Assignee has requested the City document its consent to: (i) the Assignee's
acquisition of the Property; and (ii) the assumption by Assignee of Assignor's obligations
under the Density Bonus Agreements. The City hereby consents to such conveyance and
assignment and assumption on the terms and conditions set forth in this Assumption
Agreement.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the parties hereto agree as follows:
Intentionally Omitted.
2. Assumption. Concurrently with recordation of this Assumption Agreement, Assignee
assumes and agrees to perform all of the obligations, covenants and agreements of
Assignor under the Density Bonus Agreements, in the manner, at the times and in all other
respects as therein provided. Assignee further agrees to be bound by all of the terms,
covenants and conditions contained in the Density Bonus Agreements as though the
Density Bonus Agreements had been originally made, executed and delivered by Assignee.
3. Acknowledgement. The City hereby acknowledges that Assignor is assigning all of
its rights, title, interest and obligations under and pursuant to the Density Bonus Agreements
to the Assignee concurrently with recordation of this Assumption Agreement, and agrees
that the rights of Assignor under the Density Bonus Agreements shall inure to the benefit of
Assignee. Except for this Assignment Agreement, the City is neither a party to nor bound
or otherwise affected by the terms and provisions of any document executed by and
between or understanding or agreement among the Assignor and Assignee.
4. Representations and Warranties of Assignee. Assignee represents and warrants to
the City and Assignor that: (i) Assignee is the successor in interest to Assignor with respect
to the Density Bonus Agreements; (ii) Assignee is thereby a party to the Density Bonus
Agreements; and (iii) Assignee has the power and authority to enter into this Assignment
Agreement.
5. Continuation of Rights and Interests. The parties hereto acknowledge and agree
that, notwithstanding the City's execution and delivery of this Assignment Agreement, the
City does not and shall not be deemed to waive any of the provisions of the Density Bonus
Agreements, and the parties hereto agree that all of the terms, conditions, and provisions of
the Density Bonus Agreements are valid and are hereby recognized, renewed, extended
and continued in full force and effect.
6. Notices. The City and Assignee agree to give to each other copies of all notices
of events of default under their respective documents. All notices given under this
Assumption Agreement shall be in writing and sent to the party at its address appearing
below (a) by certified or registered U.S. mail, return receipt requested, (b) overnight by a
nationally recognized overnight courier such as UPS Overnight or Fed Ex, or (c) by
personal delivery. All notices shall be effective upon receipt (or refusal to accept delivery).
These addresses may be changed by any party by written notice to all other parties.
If to City: City of Encinitas
505 S. Vulcan Ave.
Encinitas, CA 92024
Attn: Housing
2
If to Assignee: David Santistevan and Marjorie Santistevan, Trustees
David and Molly Santistevan Living Trust
P.O. Box 8528
Rancho Santa Fe, CA 92067
7. Whole Agreement; Binding Effect. ffect. This Assumption Agreement is the whole and only
agreement with regard to the priority of the liens, claims and charges of the Density Bonus
Agreements. This Assumption Agreement is binding on and inures to the benefit of the legal
representatives, heirs, successors and assigns of the parties.
8. Governing Law. This Assumption Agreement is governed by, and shall be construed
in accordance with, the laws of the State of California.
9. Counterparts. This Assumption Agreement may be executed in counterparts, and all
counterparts constitute but one and the same document.
10. Signatures. All individuals signing this Assumption Agreement for a party which is a
corporation, limited liability company, partnership or other legal entity, or signing under a
power of attorney, or as a trustee, guardian, conservator, or in any other legal capacity,
covenant to one another that they have the necessary capacity and authority to act for, sign
and bind the respective entity or principal on whose behalf they are signing.
IN WITNESS WHEREOF, the parties have executed this Assumption Agreement as of the date
first set forth above and agree to be bound hereby.
BORROWER:
David and Molly Santistevan Living Trust dated February 7, 2017
By:
David Richard Santistevan, Trustee
y
Ma jorie .Ellwood Santistevan, Trustee
[SIGNATURES CONTINUED ON FOLLOWING PAGE]
3
CITY OF ENCINITAS:
Pamela Antil, City Manager
Approved a�,-tq Form for City:
By:
T.jrquin Pr'46si, City Attorney
ACKNOWLEDGMENT
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 San Diego
On r� '�� • �?� 2023, before me, TX.
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
Signature
.01
(Seal)
' or rs� DEANA GAY i
W = Notary Public - California
<�
Z W San Diego County
y Commission # 2396124
`�OF01 My Comm. Expires Mar 8, 2026
ACKNOWLEDGMENT
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 San Diego
On 2023, before me ,
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.
certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct. r"i—`'NOLE AARIE BUIE
Wotary Public - California
Z San Diego County
WITNESS my hand and official seal. _Z*my
Commission # 2340302
Comm. Expires Jan 8, 2025
Signature (Seal)
0
ACKNOWLEDGMENT
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 San Diego
On `, 2023 before me,
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.
certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct. I
WITNESS my hand and official seal.
NICOLE MARIE ouiE
Notary Public - California
San Diego County
Commission # 2340302
0my
Comm. Expires Jan 8, 2025
__
Signature (Seal)
7