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HomeMy WebLinkAboutHotel Fresno Apartments LC RELEASE OF OWNER PARTICIPATION AGREEMENT THIS RELEASE OF OWNER PARTICIAPTION AGREEMENT ("Termination") is executed this Z9 th day of May 2019 by City of Fresno, in its capacity as Housing Successor to the Redevelopment Agency of the City of Fresno, a municipal corporation, ("Agency"), with reference to the following facts: BACKGROUND WHEREAS, the Agency entered into that certain Owner Participation Agreement (the "Original OPA"), dated March 9, 2011, recorded on December 22, 2011 as instrument number 2011-0171328, in the Official Records of the Recorder's Office of Fresno County, California, affecting that certain real property described in the Agreement (the "Property"); and WHEREAS, the Property has been acquired by Hotel Fresno Apartments, LP, a California limited partnership ("Hotel Fresno LP"), and the Original OPA was assigned to Hotel Fresno LP; WHEREAS, an Amended and Restated Owner Participation Agreement ("Amended and Restated OPA"), dated January 15, 2015, was entered into between the Agency and Hotel Fresno LP; WHEREAS, the Original OPA was replaced in its entirety by the Amended and Restated OPA and is of no further force or effect; and WHEREAS, the Agency now desires to remove the Original OPA from title. TERMINATION 1. The City hereby certifies that the Agreement has been replaced in its entirety and is released from the Property described in said Original OPA. 2. The Property is not encumbered in any way by, or subject to the terms and conditions contained in, the Original OPA. IN WITNESS WHEREOF, this Agreement has been executed as of the day and year first above written. (Signatures follow on next page.) 1 AGENCY City of Fresno in its capacity as Housing Successor to the Redevelopment Agency of the City of Fresno ! By: Name: Marlene Murphey bate Title: Executive Director APPROVED AS TO FORM: Douglas T. Sloan City At ey By: Ji W. Hastrup Date Deputy City Attorney ATTEST: YVONNE SPENCE, MMC City Clerk /7,' y X 0//0) --�euty (Attach notary certificate of acknowledgment) 2 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT 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_ !"n1) _, ) On 211L 120 1 OIL before me, r� Date �1 Here Insert Name and 'tie of the Officer personally appeared �-`�uf��. rrre(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose names) 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. r C.HEED Commission N 2136955 WITNESS my hand and official seal. Notary Public-Calllornis Fresno County - Al Comm.EN irss Doc 30.2U19 Signature — Signature of Notary Public Place Notary Seal Above OPTIONAL Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: Document Date: _ Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: Signer's Name: ❑Corporate Officer — Title(s): 1.1 Corporate Officer — Title(s): _ ❑ Partner — ❑ Limited ❑ General !:.] Partner — I-] Limited C1 General ❑ Individual I Attorney in Fact ❑ Individual i Attorney in Fact Trustee i.I Guardian or Conservator C I Trustee Guardian or Conservator ❑ Other: _ ❑ Other: Signer Is Representing: Signer Is Representing: ©2014 National Notary Association - www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907