HomeMy WebLinkAboutBrookfield Assign & Assump Ivy PH5RECORDING REQUESTED BY:
First American Title Company
WHEN RECORDED MAIL TO:
Brookfield Bay Area Holdings LLC
c/o Brookefield Residential
12657 Alcosta Boulevard, Suite 250
San Ramon, CA 94583
Atten: Josh Roden, President
2024011923 01/23/2024 10:52 AM
OFFICIAL RECORDS OF ALAMEDACOUNTY
MELISSAWILK, CLERK -RECORDER
RECORDING FEES: $93.00
4 11 *411 :N 011 NO III IVA :1*9101 V IN
986-0078-030 through 986-0078-039 and 986-0078- File No.: 0131-625566-005
042 through 986-0078-045 and 986-0078-007 and 986-
0078-008 and 986-0078-010
Dublin, CA
ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT AGREEMENT AND
CONSENT OF CRY
(Please fill in document title(s) on this line)
(X) Exempt from fee under GC 27388.1(a)(2) due to being recorded in connection with a concurrent transfer that
is subject to the imposition of documentary transfer tax, or
() Exempt from fee under GC 27388.1(a)(1) due to the maximum fees ($225) being paid on documents in this
transaction, or
() Exempt from fee under GC 27388.1(a)(2) due to being recorded in connection with a transfer of real property
that is a residential dwelling to an owner -occupier, or
() Exempt from fee under GC 27388.1(a) (1); Not related to real property, or,
Document is executed or recorded by the state or any county, municipality, or other political subdivision of the
state - GC 27388.1(a)(2)
() Exempt from fee under GC 27388.1(a) (1) for the following reasons:
NOTE: The following exemptions may not be acceptable for use in all counties:
() Exempt from fee under GC 27388.1 due to being recorded in Connection with a transaction that was subject to
documentary transfer tax which was paid on document recorded as Document No. of Official Records, or
() Exempt from fee under GC 27388.1 due to the maximum fees having been paid on document(s) recorded as
Document No. of Official Records, or
() Exempt from fee under GC 27388.1 due to it being recorded in connection with a transfer of real property that
is a residential dwelling to an owner -occupier. The recorded document transferring the dwelling to the owner -
occupier was recorded as Document No. of Official records.
THIS PAGE ADDED TO PROVIDE EXEMPTION INFORMATIOR FOR T
AFFORDABLE HOUSING FEE)
(Additional recording fee applies)
18 PGS
SIGNED IN COUNTERPART
#6�1JOIN V/ i IM
IOWN I Z ,t B. a
Brookfield Bay Area Holdings LLC
c/o Brookfield Residential
12657 Alcosta Boulevard, Suite 250
San Ramon, CA 94583
Attention: Josh Roden, President
ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT AGREEMENT AND
CONSENT OF CITY
J
THIS ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT AGREEMENT AND
CONSENT OF CITY (this "Assignment") is made effective as of the date of the conveyance of
the Property (defined below) to Assignee (defined below) (the "Effective Date"), by and between
DUBLIN CROSSING, LLC, a Delaware limited liability company ("Assignor"), and
BROOKFIELD BAY AREA HOLDINGS LLC, a Delaware limited liability company
("Assignee").
RECITALS
A. Assignor has acquired certain real property, or the rights to acquire certain
real property, located in the City of Dublin (the "City"), County of Alameda, State of
California (the "Overall Property"), pursuant to the terms of that certain Purchase and Sale
and Assignment Agreement and .Escrow Instructions entered into as of June 2, 2015, by
and between Assignor and Dublin Crossing Venture LLC, a Delaware limited liability
company ("DCV LLC").
B. DCV LLC and the City entered into that certain Development Agreement
approved by the City on December 19, 2013 pursuant to Ordinance No. 08-13 and recorded
in the Official Records of Alameda County, California (the "Official Records") on June 4,
2014 as Document No. 2014134795, which was amended by that certain Amendment No.
1 to Development Agreement approved by the City on June 2, 2015 pursuant to Ordinance
No. 101-15 and recorded in the Official Records on July 22, 2015 as Document No.
2015202606, as further amended by that certain Amendment No. 2 to Development
Agreement approved by the City on February 2, 2016 pursuant to Ordinance No. 2-16 and
recorded in the Official Records on March 8, 2016 as Document No. 2016056821, and as
further amended by that certain Amendment No. 3 to Development Agreement approved by
the City on June 15, 2017 pursuant to Ordinance No. 5-17 and recorded in the Official
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
Records on June 26, 2017 as Document No. 201713 8465 (as amended, the "➢evelopment
Agreement'). The Development Agreement relates to and affects the Property.
C. DCV LLC assigned all of its rights, interests and obligations under the
Development Agreement to Assignor, pursuant to that certain Assignment and Assumption
of Development Agreement recorded in the Official Records on August 28, 2015 as
Document No. 201523 9932.
D. Assignor is developing a master -planned community on the Overall
Property and has subdivided a portion of the Overall Property into two (2) neighborhoods
that will be developed in one phase known as "Phase 5," which is described more
particularly on Exhibit "A" attached hereto and incorporated herein by this reference.
E. Assignee has acquired the real property described on Exhibit "B" attached
hereto (the "Property"), which is a portion of Phase 5 pursuant to that certain Agreement
for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of
February 23, 2023, as amended from time to time (as amended, the "Purchase
Agreement").
F. Assignor desires to assign, and Assignee desires to assume, all of
Assignor's rights, interests and obligations under the Development Agreement solely to
the extent such rights, interests and obligations relate to the Property.
G. Section 22 of the Development Agreement states the City Manager's (as
defined in the Development Agreement) approval is required for any assignment of the
rights, interests, and obligations under the Development Agreement, and Assignor and
Assignee desire to secure the City Manager's approval for the assignment set forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, Assignor and Assignee agree as follows:
1. Incorporation of Recitals. The recitals of fact set forth above are true and correct
and incorporated into this Assignment in their entirety by this reference.
2. Assignment Subject to the consent of the City Manager, Assignor hereby transfers
and assigns to Assignee all of Assignor's rights, interests and obligations under the Development
Agreement solely to the extent such rights, interests and obligations relate to the Property.
3. Acceptance and Assumption. Subject to the consent of the City Manager, Assignee
hereby accepts the transfer and assignment set forth in Section 2 of this Assignment and assumes
and agrees to perform all of Assignor's obligations under the Development Agreement solely to
the extent such obligations relate to the Property, including, but not limited to, the obligation to
pay all impact and other fees required to be paid when a building permit is obtained from the City
(collectively, the "Assumed Obligations"). Notwithstanding anything to the contrary in the
vesting tentative map approval, Assignee acknowledges and agrees that the City can apply the
requirements in Sections 9.2 and 9.5.6 of the Development Agreement to require assignee to
W
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
provide security for, respectively, fees in lieu of parkland dedication and Public Facilities Fee
payments. Assignee hereby agrees to indemnify, protect, defend (with legal counsel reasonably
acceptable to Assignor) and hold Assignor harmless from and against any and all claims arising
from or related to any Assumed Obligations.
4. Further Assurances. Assignor hereby covenants that it shall, at any time and from
time to time upon written request therefor, execute and deliver to Assignee, including its nominees,
successors and/or assigns, any reasonable new or confirmatory instruments and perform any other
reasonable acts which Assignee or its nominees, successors and/or assigns may request in order to
fully transfer possession and control of, and protect the rights ofAssignee and its successors and/or
assigns in, all of the rights, interests and obligations intended to be transferred and assigned to
Assignee by this Assignment. Assignee hereby covenants that it shall, at any time and from time
to time upon written request therefor, execute and deliver to Assignor, including its nominees,
successors and/or assigns, any reasonable new or confirmatory instruments and perform any other
reasonable acts which Assignor or its nominees, successors and/or assigns may request in order to
fully transfer possession and control of all of the rights, interests and obligations intended to be
transferred and assigned to Assignee by this Assignment.
5. Approval of Assignment Pursuant to Section 22.3 of the Development Agreement,
Assignor shall be released from any assigned obligations under the Development Agreement, so
long as (a) such assignment has been approved by the City Manager in accordance with
Section 22.2 of the Development Agreement and (b) such obligations are expressly assumed by
the assignee in a written assignment agreement executed by the parties. By executing the Consent
By City attached to this Assignment, the City Manager, on behalf of the City, hereby approves the
assignment and assumption set forth in this Assignment, pursuant to Section 22.2 of the
Development Agreement, and releases Assignor from its obligations relating to the Property,
pursuant to Section 22.3 of the Development Agreement.
6. Successors. This Assignment shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns.
7. Counterparts' This Assignment may be executed in counterparts, each of which
shall be deemed an original, but all of which, taken together, shall constitute one and the same
instrument.
8. Amendment. This Assignment may only be amended or modified by a written
instrument executed by all of the parties hereto.
9. Governing Law. The validity, interpretation and performance of this Assignment
shall be controlled by and construed under the laws of the State of California.
10. Attorneys' Fees. Should any dispute arise between the parties hereto or their legal
representatives, successors or assigns concerning any provision of this Assignment or the rights
and duties of any person in relation thereto, the party prevailing in such dispute shall be entitled,
in addition to such other relief that may be granted, to receive from the other party all costs and
expenses, including reasonable attorneys' fees, incurred by the prevailing party in connection with
such dispute.
3
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
11. Entire Agreement. This Assignment, together with the Purchase Agreement,
constitutes the entire agreement among the parties hereto with respect to the subject matter hereof,
and supersedes all prior understandings or agreements. In the event of any conflict between this
Assignment and the Purchase Agreement, the terms of the Purchase Agreement shall govern and
control.
12. Severabilfty, If any term, covenant, condition or provision of this Assignment, or
the application thereof to any person or circumstance, shall to any extent be held by a court of
competent jurisdiction or otherwise by law rendered invalid, void or unenforceable, the remainder
of the terms, covenants, conditions or provisions of this Assignment, or the application thereof to
any person or circumstance, shall remain in full force and effect and shall in no way be affected,
impaired or invalidated thereby.
13. Notices. All notices shall be in writing, and shall be given in the manner prescribed
by Section 27 of the Development Agreement. Pursuant to Section 27 of the Development
Agreement, the address for Assignee is:
Brookfield Bay Area Holdings LLC
c/o Brookfield Residential
12657 Alcosta Boulevard, Suite 250
San Ramon, CA 94583
Attention: Josh Roden, President
14. Authority. Each individual executing this Assignment on behalf of a corporation
or other legal entity represents and warrants that: (a) he or she is duly authorized to execute and
deliver this Assignment on behalf of said corporation or other legal entity in accordance with and
without violating the provisions of its governing documents, and (b) this Assignment is binding
upon and enforceable against said corporation or other legal entity in accordance with its terms.
Any entity signing this Assignment on behalf of a corporation or other legal entity hereby
represents and warrants in its own capacity that it has full authority to do so on behalf of the
corporation or other legal entity.
[Signature Page Follows]
4
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
Date.
IN WITNESS WHEREOF, the parties have entered into this Assignment as of the Effective
DUBLIN CROSSING, LLC,
a Delaware limited liability company
By: BrookCal Dublin LLC,
a Delaware limited li ity company
Its: Member
By: Inch Rnrion,*
Name: /Ailth ----sentatve�:00-1'-k �a,Acw)
Its: AH1horr*.7jt<_,A
By: L�Vl
Name: 'C"Mahalt; V. Wt f- 13
joy
Its:
-Authadzed Signer
By: SPIC Dublin LLC,
a Delaware limited liability company
Its: Member
By: Standard Pacific Investment Corp.,
a Delaware corporation
Its: Member
By: SIGNED IN COUNTERPART
Name:
Its:
SiVature Page to Assignment and Assumption o
Development Agreement and Consent 6f� City f
Assignment of Development Agmt. for
Phase 5 of Ivy (N8 21).SFW.v2
Date.
IN WITNESS WHEREOF, the parties have entered into this Assignment as of the Effective
ASSIGNOR:
DUBLIN CROSSING, LLC,
a Delaware limited liability company
By: BrookCal Dublin LLC,
a Delaware limited liability company
Its: Member
By: SIGNED IN COUNTERPART
Name:
Its:
By: SIGNED IN COUNTERPART
Name:
Its:
By: SPIC Dublin LLC,
a Delaware limited liability company
Its: Member
By: Standard Pacific Investment Corp.,
a Delaware corporation
Its: Member
By:
Name:
Its: ( trli /tip/oLw
Chad KIRz. "" U6 Pre,s1 del+
Si ature Page to Assignment and Assumption of
Development Agreement and Consent cfCity
Assignment of Development Agmt. for
Phase 5 of ivy (NB 21).SFW.v2
ASSIGNEE:
10,31MONA191"
a Delaware limited liability company
By:
Name:
Its: W josh Raden 4 pl-�tn
AuthaiizedftwesentaWe 44hor.--�-e
By:
Name: WhPIP.10V
Its: Authorized Signer
SiVature Page to Assignment and Assumption of
Development Agreement and Consent of City
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
CWffi CODE § 1189
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
Contra Costa
On January 22, 2024 before me, Tiffany Grubbs, Notary Public
Date Name and Title of Qjf1cer
personally appeared
Josh Roden and Michele J
Name of Signer
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.
- - - - - - - - - - - - -
TIFFANY GRUBBS
Notary Public - California
Contra Costa County
Commission # 2415110
*my Comm. Expires Sep 6, 2026
Place Notary Seal Above
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:
Sinatureof NotaPublic
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 7Cam? (4 k2V' . before me,
� I - -a Date ' _ - A —1 1 - Here Insert Name Andy, Of the officer
personally appeared
— — — — — — — — — — — — -
ELIZABEMSEAL
Notary Public - California
Contra Costa County
Commission 9 2359448
My Comm. Expires May 29, 2025
Place Notary Sea] Above
Name(s) of'Signer(s)
who proved to me on the basis of satisfactory evidence
to be the person(4) whose name(s) is/afe-subscribed to
the within instrument and acknowledged to me that
he/s4eAhey executed the same in hisftwW44@ir.
authorized capacity(im), and that by his/h@A4@4
signature(4 on the instrument the personF4- or the
entity upon behalf of which the person(4 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
Acknowledgement Page to Assignment and Assumption of
v
Deveqpment Agreement and Consent of City
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
ILLEGIBLE NOTARY SEAL & HANDWRITTEN ACKNOWLEDGEMENT
DECLARATION (CODE 27361.7)
1 CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE
DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS
FOLLOWS:
Name of Notary: ELIZABETH NEAL
Date Commission Expires: MAY 29, 2025
Commission Number: 2359448
State of Execution:
County of Execution:
CALIFORNIA
I CERTIFY UNDER PENALTY OF PERJURY THAT THE HANDWRITTEN
INFORMATION IN THE NOTARY ACKNOWLEDGMENT ON THE DOCUMENT
TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS:
State:
County:
Date:
Notary Name:
Name of Person(s) Notarized:
IMINUM11w
CONTRA COSTA
JANUARY 22,2024
ELIZABETHNEAL
Place of Execution of this Declaration: Pleasanton, CA
Date: January 22,
Signature:
Agent for: Fj
F-
CIVIL CODE § 1189
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 Contra Costa
On January 22, 2024 before me, Tiffany Grubbs, Notary Public
Date Name and Title of Officer
personally appeared Josh Roden and Michele Joy
Name of Signer
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.
- -am—
TIFFANY GRUBBS
Notary Public - California
Contra Costa County 9
Commission # 2415110
My Comm, Expires Sep 6, 20264
Place Notary Seal Above
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: —tl ; � �j
gig"natu'rie of Not Public
Exhibit "A"
Real property in the City of Dublin, County of Alameda, State of California, described as
follows:
i i 1 ! 1 i i •' # !MIAMI
1 � !
I : I a) "A I # # :1 • ' •l M410 4601 1*, 100MMaMelle
i' i 1 ' li :1 • • " '
' 1 '# 1 1'i 1 1� ' '•' #
1 � i# 1 ! 1 '• i i• ! # ' IM !
1 i ' #• I i' . • i I
!! i
1� ! 1 i • i' i `' 1
i• I to]i 1 «: i 1 •i i
ISM,01 1# • • t1 i ",1I! «1 • � ' ' '
EAST — 1857.51 FEET FOR THE POINT OF BEGINNING HEREOF; THENCE
CONTINUING A# li NORTHi : 191177.65 FEET;
Consent► Assignment and Assumption
Development Agi-eement and Consent of City f
Assignment of Development Agmt. for
Phase 5 of ivy (NB 21).SFWd.v2
THENCE CROSSING THROUGH THE USA PARCEL FOR THE FOLLOWING SEVEN (7)
COURSES: (1) SOUTH 38' 42' 03" WEST - 407.75 FEET FOR THE BEGINNING OF A
CURVE TO THE RIGHT, FROM WHICH POINT THE CENTER BEARS NORTH OS° 02.23
WEST, (2) IN A WESTERLY DIRECTION 48.42 FEET ALONG THE ARC OF SAID
CURVE TO THE RIGHT, HAVING A RADIUS OF 418.00 FEET AND THROUGH A
CENTRAL ANGLE OF 06° 38' 14", (3) NORTH 88° 24' 09" WEST-170.00 FEET FOR THE
BEGINNING OF A CURVE TO THE LEFT, (4) IN A SOUTHWESTERLY DIRECTION
362.71 FEET ALONG THE ARC OF SAID CURVE TO THE LEFT, HAVING A RADIUS OF
582.00 FEET AND THROUGH A CENTRAL ANGLE OF 350 42' 26", (5) SOUTH 55° 53' 25"
WEST-188.66 FEET FOR THE BEGINNING OF A CURVE TO THE RIGHT, (6) IN A
SOUTHWESTERLY DIRECTION 244.28 FEET ALONG THE ARC RIGHT OF SAID
CURVE TO THE RIGHT, HAVING A RADIUS OF 639.00 FEET AND THROUGH A
CENTRAL ANGLE OF 210 54' 12", AND (7) NORTH 0.1° 35' 51" EAST - 649.19 FEET TO
THE POINT OF BEGINNING.
APN: 986-0001-001-33 (Affects this and other property)
Consent by City to Assignment and Assumption of
Development Agreement and Consent of City
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
Exhibit "B"
Leval Description of Property
Real property in the City of Dublin, County of Alameda, State of California, described as
follows:
� y liW "IMM411111311F
[OWUMM11N.(0 111Os EF! ' P1�M�•
.?IN@NM.
APN: 986-0078-030 through 986-0078-039 (Lots 43 through 52);
986-0078-042 through 986-0078-045 (Lots 55 through 58);
986-0078-007 (Parcel M);
986-0078-008 (Parcel N); and
986-0078-010 (Parcel P)
Consent by City to Assignment and Assumption of
Development Agreement and Consent of City
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 21).SFW.v2
CONSENT BY CITY
The City of Dublin, a municipal corporation, by and through its City Manager, hereby consents to
the foregoing Assignment and Assumption of Development Agreement and further acknowledges
and agrees that Assignor is hereby released of any and all obligations under the Development
Agreement relating to the Property.
ckq Lit3dcuVan 5rni
By: '19111-4,11,
W-V VW-f VS& I- F V A
Name: NM -WA/
Title: City Clerk
By:
Name:
Title:
City Attorney
Consent by City to Assignment and Assumption of
Development Agreement and Consent of City
Assignment of Development Agmt. for
Phase 5 of Ivy (N13 21).SFW.v2
DocuSign Envelope ID: C33373AO-AI29-40EE-ABDA-IEBODD2FFOB6
CONSENT BY CITY
The City of Dublin, a municipal corporation, by and through its City Manager, hereby consents to
the foregoing Assignment and Assumption of Development Agreement and further acknowledges
and agrees that Assignor is hereby released of any and all obligations under the Development
Agreement relating to the Property.
LOW
CITY OF DUBLIN
SIGNED IN COUNTERPART
By:
Name:
Title: City Manager
ATTEST:
SIGNED IN COUNTERPART
By:
Name:
Title: City Clerk
APPROVED AS TO FORM
DocuSigned by.
By:
Name:
Title: City Attorney
Consent by City to Assignment and Assumption of
Development Agreement and Consent of City
Assignment of Development Agmt. for
Phase 5 of Ivy (N13 21).SFW.v2
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 Pd
On 119'0 V before me,
D- I 'I Here Insert NAAAnd Tk1110fthe Offices
personally appeared
CIEVA LYNN FAMGM
MoUry,Publk - Calffornia
Alameda County
Commission # 2346295
My Comm. Expires Feb 10, 2025
�rzl M-4 Q?? y &02 9S
Pj /0' .10 9%6
Place Notary Sea] Above
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 offigial seal.
Acknowled ement Page to Assignment and Assumption of
v
Development Agreement and Consent of City
Assignment of Development Agmt. for
Phase 5 of Ivy (NB 211.5FW.v2