HomeMy WebLinkAbout7097 RESOLUTION NO. 7097
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ARCADIA, CALIFORNIA, APPROVING A SEVENTH AMENDMENT TO
AGREEMENT AND LEASE BY AND BETWEEN THE CITY OF
ARCADIA AND METHODIST HOSPITAL OF SOUTHERN
CALIFORNIA
WHEREAS, on May 28, 1953, the City of Arcadia, a municipal corporation, as
lessor, and Hospital Foundation of the Methodist Church, Southern California-Arizona
Conference, a nonprofit California corporation, executed an Agreement and Lease
covering the real property described therein, which Agreement and Lease was recorded
January 11, 1955 in Book 46609, Page 39 of the Official Records of Los Angeles
County, California; and
WHEREAS, on August 9, 1955, the parties to said Agreement and Lease
executed an amendment thereto, which amendment was recorded August 25, 1955 in
Book 48769, Page 295, Official Records of Los Angeles County, California; and
WHEREAS, also on August 9, 1955, Hospital Foundation of the Methodist
Church, Southern California-Arizona Conference with the written consent of the City
assigned its interest in said Agreement and Lease to Methodist Hospital of
Southern California, a nonprofit California corporation, which corporation assumed all
of the obligations of the Hospital Foundation of the Methodist Church, Southern
California-Arizona Conference under said Agreement and Lease; and
WHEREAS, said Agreement and Lease was further amended by a Second
Amendment to Lease dated July 5, 1956 and recorded on August 22, 1956 in Book
52099, Page 103, Official Records of Los Angeles County, California; and
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WHEREAS, said Agreement and Lease was further amended by a Third
Amendment to Lease dated September 18, 1961 and recorded on January 27, 1966 in
Book M2109, Page 272, Official Records of Los Angeles County, California; and
WHEREAS, said Agreement and Lease was further amended by a Fourth
Amendment to Lease dated December 23, 1963 and recorded May 11, 1964 in Book
M1518, Page 761, Official Records of Los Angeles County, California; and
WHEREAS, said Agreement and Lease was further amended by a Fifth
Amendment to Agreement and Lease dated August 5, 1980 and recorded on June 10,
1981, as Document Number 81-578698, in the Official Records of Los Angeles County,
California; and
WHEREAS, said Agreement and Lease was further amended by a Sixth
Amendment to Lease dated February 1, 2009, and recorded February 2, 2009, as
Document No. 09-132665 in the Official Records of Los Angeles County; and
WHEREAS, in support of the Hospital's defeasement of the FHA Insured
Mortgage Revenue Bonds (Methodist Hospital of Southern California Project), Series
2009 and the refinancing of the Hospital's indebtedness relating thereto ("Project
Financing") with a loan to be insured by the U.S. Department of Housing and Urban
Development under Section 242 pursuant to Section 223(f) of the National Housing Act,
as amended, the City desires and intends to approve a Seventh Amendment to
Agreement and Lease with Methodist Hospital of Southern California.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:
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SECTION 1 . The City Council hereby approves the Seventh Amendment to
Agreement and Lease by and between the City of Arcadia and Methodist Hospital of
Southern California ("Seventh Amendment"), a copy of which is attached hereto as
Exhibit "A" and incorporated herein by reference, as well the Memorandum of Lease
Amendment ("Memorandum"), a copy of which is attached hereto as Exhibit "B" and
incorporated herein by reference.
SECTION 2. The Mayor is authorized and directed to execute the Seventh
Amendment and the Memorandum on behalf of the City, together with such other
documents consistent therewith which are determined by the City Manager and City
Attorney to be reasonable and necessary to effectuate the Seventh Amendment.
SECTION 3. This Resolution shall take effect upon its adoption.
SECTION 4. The City Clerk shall certify to the adoption of this Resolution.
Passed, approved and adopted this 17th day of November , 2015.
/NI IN
yr'.yor '.f the Ciy of Arcadia
ATTEST:
Ci Clerk
APPROVED AS TO FORM:
cjt tQ 1
Stephen P. Deitsch
City Attorney
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS:
CITY OF ARCADIA )
I, GENE GLASCO, City Clerk of the City of Arcadia, hereby certifies that the
foregoing Resolution No. 7097 was passed and adopted by the City Council of the City of
Arcadia, signed by the Mayor and attested to by the City Clerk at a regular meeting of said
Council held on the 17th day of November, 2015 and that said Resolution was adopted by
the following vote, to wit:
AYES: Council Member Beck, Chandler, Segal, Tay, and Kovacic
NOES: None
ABSENT: None
City ler • —1City of Arcadia
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EXHIBIT "A"
SEVENTH AMENDMENT
TO
AGREEMENT AND LEASE
This Seventh Amendment to Agreement and Lease ("Seventh Amendment") is made and
executed effective as of this day of , 2015, by and between the CITY
OF ARCADIA, a municipal corporation (hereinafter referred to as the "City") and METHODIST
HOSPITAL OF SOUTHERN CALIFORNIA, a California nonprofit public benefit corporation
(hereinafter referred to as the "Hospital").
RECITALS
WHEREAS, on May 28, 1953, the City of Arcadia, a municipal corporation, as lessor,
and Hospital Foundation of the Methodist Church, Southern California-Arizona Conference, a
nonprofit California corporation, executed an Agreement and Lease covering the real property
described therein, which Agreement and Lease was recorded January 11, 1955 in Book 46609,
Page 39 of the Official Records of Los Angeles County, California; and
WHEREAS, on August 9, 1955, the parties to said Agreement and Lease executed an
amendment thereto, which amendment was recorded August 25, 1955 in Book 48769, Page 295,
Official Records of Los Angeles County, California; and
WHEREAS, also on August 9, 1955, Hospital Foundation of the Methodist Church,
Southern California-Arizona Conference with the written consent of the City assigned its interest
in said Agreement and Lease to Methodist Hospital of Southern California, a nonprofit
California corporation, which corporation assumed all of the obligations of the Hospital
Foundation of the Methodist Church, Southern California-Arizona Conference under said
Agreement and Lease; and
WHEREAS, said Agreement and Lease was further amended by a Second Amendment to
Lease dated July 5, 1956 and recorded on August 22, 1956 in Book 52099, Page 103, Official
Records of Los Angeles County, California; and
WHEREAS, said Agreement and Lease was further amended by a Third Amendment to
Lease dated September 18, 1961 and recorded on January 27, 1966 in Book M2109, Page 272,
Official Records of Los Angeles County, California; and
WHEREAS, said Agreement and Lease was further amended by a Fourth Amendment to
Lease dated December 23, 1963 and recorded May 11, 1964 in Book M1518, Page 761, Official
Records of Los Angeles County, California; and
WHEREAS, said Agreement and Lease was further amended by a Fifth Amendment to
Agreement and Lease dated August 5, 1980 and recorded on June 10, 1981, as Document
Number 81-578698, in the Official Records of Los Angeles County, California; and
964354.4
EXHIBIT "A"
WHEREAS, said Agreement and Lease was further amended by a Sixth Amendment to
Lease dated February 1, 2009, and recorded February 2, 2009, as Document No. 09-132665 in
the Official Records of Los Angeles County; and
WHEREAS, said Agreement and Lease affect the land described in Exhibit A attached
hereto and the improvements thereon; and
WHEREAS, in support of the Hospital's defeasement of the FHA Insured Mortgage
Revenue Bonds (Methodist Hospital of Southern California Project), Series 2009 and the
refinancing of the Hospital's indebtedness relating thereto ("Project Financing") with a loan to be
insured by the U.S. Department of Housing and Urban Development under Section 242 pursuant
to Section 223(f) of the National Housing Act, as amended, the parties hereto desire to further
amend said Agreement and Lease.
NOW, THEREFORE, the parties hereto agree that said Lease and Agreement is hereby
amended as follows:
AGREEMENT
1. Effectiveness of this Seventh Amendment. This Seventh Amendment shall be
conditioned upon, and effective (without the requirement of any further action on the part of
either Hospital or City) concurrent with, the closing of the Project Financing, provided that this
Seventh Amendment shall be effective only if the closing of the Project Financing occurs on or
before May 27, 2016. Within ten (10) calendar days of the closing of the Project Financing, the
Hospital shall provide to the City Manager of the City written certification of the date of such
closing.
2. Extension of Term. Section 1 of the Agreement and Lease is hereby amended to
read in its entirety as follows:
This Agreement and Lease shall be for a term from the 28th day of May 1953 and
continuing through and including the 27th day of May 2066, which period of time
is hereinafter referred to simply as the "Term."
3. No Further Changes. Except as further amended by this Seventh Amendment to
Agreement and Lease, said Agreement and Lease dated May, 28, 1953 as heretofore amended
remains in full force and effect. This Seventh Amendment may be executed in counterparts, each
of which shall be an original, but all of which, together, shall constitute one and the same
instrument.
4. Modification. This Agreement and Lease shall not be modified without the
consent of the Secretary of Housing & Urban Development acting by and through the Federal
Housing Commissioner.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK)
[SIGNATURE PAGE FOLLOWS)
964354.4
EXHIBIT "A"
IN WITNESS WHEREOF, City and Hospital have executed this Seventh Amendment
as of the date set forth above.
CITY:
CITY OF ARCADIA
a municipal corporation
ATTEST:
By:
City Clerk Gary A. Kovacic
Mayor
Approved as to Form:
Stephen P. Deitsch
City Attorney
964354.4
HOSPITAL:
METHODIST HOSPITAL OF SOUTHERN CALIFORNIA
a California nonprofit public benefit corporation
By:
Dan F. Ausman
President and Chief Executive Officer
By:
William Grigg
Chief Financial Officer
964354.5
EXHIBIT "A"
LAND DESCRIPTION
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF LOS
ANGELES, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:
PARCEL 1:
THAT PORTION OF LOT 5, OF TRACT NO. 949, IN THE CITY OF ARCADIA, COUNTY
OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 17,
PAGE 13, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY,
DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST WESTERLY CORNER OF THAT PARCEL OF LAND
CONVEYED TO THE LOS ANGELES TURF CLUB, INC., AND DESCRIBED AS PARCEL
2 IN DEED RECORDED IN BOOK 12619, PAGE 275, OF OFFICIAL RECORDS OF SAID
COUNTY, THENCE ALONG THE BOUNDARY OF THE LAND DESCRIBED IN SAID
PARCEL 2 AS FOLLOWS:
SOUTH 51° 27' 00" EAST 481.12 FEET; SOUTH 38° 33' 00" WEST 150.00 FEET; AND
SOUTH 51° 27' 00" EAST 30.00 FEET TO THE INTERSECTION WITH THE
SOUTHEASTERLY LINE OF SAID LOT 5; THENCE SOUTHWESTERLY AND
WESTERLY ALONG THE SOUTHEASTERLY AND SOUTHERLY LINE OF SAID LOT 5
TO ITS POINT OF INTERSECTION WITH THE SOUTHERLY LINE OF HUNTINGTON
DRIVE, 80.00 FEET IN WIDTH, AS THE SAME IS DESCRIBED IN THE DEED TO THE
CITY OF ARCADIA, RECORDED IN BOOK 9396, PAGE 145, OF OFFICIAL RECORDS,
OF SAID COUNTY; THENCE EASTERLY AND NORTHEASTERLY ALONG THE
SOUTHERLY AND SOUTHEASTERLY LINE OF SAID HUNTINGTON DRIVE, TO THE
POINT OF BEGINNING.
EXCEPTING THEREFROM THE NORTHEASTERLY 260 FEET, MEASURED AT RIGHT
ANGLES TO THE NORTHEASTERLY LINE THEREOF, AND ALSO EXCEPTING
THEREFROM THAT PORTION THEREOF LYING SOUTHWESTERLY OF A LINE
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE SOUTHEASTERLY LINE OF HUNTINGTON DRIVE
80 FEET WIDE, AS DESCRIBED IN DEED TO CITY OF ARCADIA, RECORDED IN
BOOK 9396, PAGE 145, OFFICIAL RECORDS OF SAID COUNTY, SAID POINT BEING
SOUTHWESTERLY 1859.0 FEET FROM THE MOST WESTERLY CORNER OF THAT
PARCEL OF LAND CONVEYED TO THE LOS ANGELES TURF CLUB, INC., AND
DESCRIBED AS PARCEL 2 IN DEED RECORDED IN BOOK 12619, PAGE 275, OF
OFFICIAL RECORDS OF SAID COUNTY; THENCE SOUTHEASTERLY IN A DIRECT
LINE TO A POINT OF INTERSECTION WITH THE SOUTHEASTERLY LINE OF LOT 5
OF TRACT 949; SAID POINT OF INTERSECTION BEING 4043.0 FEET
964354.5
SOUTHWESTERLY FROM THE NORTHEAST CORNER OF SAID LOT 5, MEASURED
ALONG THE SOUTHEASTERLY LINES OF SAID LOT 5.
PARCEL 2:
THE NORTHEASTERLY 260 FEET, MEASURED AT RIGHT ANGLES TO THE
NORTHEASTERLY LINE THEREOF, OF THAT PORTION OF LOT 5, TRACT NO. 949, IN
THE CITY OF ARCADIA, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS
PER MAP RECORDED IN BOOK 17, PAGE 13, OF MAPS, IN THE OFFICE OF THE
COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST WESTERLY CORNER OF THAT PARCEL OF LAND
CONVEYED TO THE LOS ANGELES TURF CLUB, INC., AND DESCRIBED AS PARCEL
2 IN DEED RECORDED IN BOOK 12619, PAGE 275, OF OFFICIAL RECORDS OF SAID
COUNTY; THENCE ALONG THE BOUNDARY OF THE LAND DESCRIBED IN SAID
PARCEL 2 AS FOLLOWS:
SOUTH 51° 27' 00" EAST 481.12 FEET; SOUTH 38° 33' 00" WEST 150.00 FEET; AND
SOUTH 51° 27' 00" EAST 30.00 FEET TO THE INTERSECTION WITH THE
SOUTHEASTERLY LINE OF SAID LOT 5; THENCE SOUTHWESTERLY AND
WESTERLY ALONG THE SOUTHEASTERLY AND SOUTHERLY LINE OF SAID LOT 5,
TO ITS POINT OF INTERSECTION WITH THE SOUTHERLY LINE OF HUNTINGTON
DRIVE, 80.00 FEET IN WIDTH, AS THE SAME IS DESCRIBED IN THE DEED TO THE
CITY OF ARCADIA, RECORDED IN BOOK 9396, PAGE 145, OF OFFICIAL RECORDS OF
SAID COUNTY; THENCE EASTERLY AND NORTHEASTERLY ALONG THE
SOUTHERLY AND SOUTHEASTERLY LINE OF SAID HUNTINGTON DRIVE, TO THE
POINT OF BEGINNING.
APN: 8940-013-005
964354.5
EXHIBIT "B"
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
METHODIST HOSPITAL OF SOUTHERN
CALIFORNIA
300 W. Huntington Drive
Arcadia, CA 91007
Attention: Bill Grigg, Chief Financial Officer
SPACE ABOVE THIS LINE FOR RECORDER'S USE ONLY
MEMORANDUM OF LEASE AMENDMENT
THIS MEMORANDUM OF LEASE AMENDMENT("Memorandum")is effective as of
, by and between CITY OF ARCADIA, a municipal corporation ("Lessor")
and METHODIST HOSPITAL OF SOUTHERN CALIFORNIA, a California nonprofit public
benefit corporation ("Lessee").
1. Amendment of Lease. Lessor and Lessee have entered into that certain Seventh Amendment
to Agreement and Lease made and executed and effective as of , in the
form attached at Exhibit"A"to this Memorandum and incorporated herein by this reference
(the "Seventh Amendment"),pursuant to which Lessor and Lessee have agreed to certain
amendments to that certain Agreement of Lease, to which they are currently parties, and
which was originally made on May 28, 1953 and recorded January 11, 1955 in Book 46609,
Page 39 of the Official Records of Los Angeles County, California (which Agreement of
Lease, as previously amended is referred to herein as the "Lease"). The Lease covers that
certain real property located in the City of Arcadia, County of Los Angeles, State of
California, more particularly described on Exhibit "B" attached hereto and incorporated
herein by this reference.
2. Miscellaneous. The purpose of this Memorandum is to give notice of the existence of the
Seventh Amendment, all the terms of which are incorporated herein by this reference. This
Memorandum may be executed in counterparts,each of which shall be an original,but all of
which, together, shall constitute one and the same instrument.
[SIGNATURES OCCUR ON THE FOLLOWING PAGES]
60186.800 968756.2 1
EXHIBIT "B"
IN WITNESS WHEREOF,the parties hereto have executed this Memorandum as of the date
and year first above written.
LESSOR:
CITY OF ARCADIA
a municipal corporation
By:
Gary A. Kovacic
Mayor
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 Los Angeles )
On , before me, , a 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
60186.800 968756.2 2
EXHIBIT "B"
LESSEE:
METHODIST HOSPITAL OF
SOUTHERN CALIFORNIA
a California nonprofit public benefit corporation
By:
Dan F. Ausman
President and Chief Executive Officer
By:
William Grigg
Chief Financial Officer
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 Los Angeles )
On , before me, , a 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
60186.800 968756.2 3
EXHIBIT "B"
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 Los Angeles )
On , before me, , a 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
60186.800 968756.2 4
EXHIBIT "B"
EXHIBIT "A"
SEVENTH AMENDMENT FORM
[SEE ATTACHED]
60186.800 968756.2 5
EXHIBIT "B"
EXHIBIT "B"
LAND DESCRIPTION
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE COUNTY OF LOS
ANGELES, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:
PARCEL 1:
THAT PORTION OF LOT 5,OF TRACT NO. 949,IN THE CITY OF ARCADIA,COUNTY OF
LOS ANGELES,STATE OF CALIFORNIA,AS PER MAP RECORDED IN BOOK 17,PAGE 13,
OF MAPS,IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY,DESCRIBED
AS FOLLOWS:
BEGINNING AT THE MOST WESTERLY CORNER OF THAT PARCEL OF LAND
CONVEYED TO THE LOS ANGELES TURF CLUB,INC., AND DESCRIBED AS PARCEL 2
IN DEED RECORDED IN BOOK 12619, PAGE 275, OF OFFICIAL RECORDS OF SAID
COUNTY, THENCE ALONG THE BOUNDARY OF THE LAND DESCRIBED IN SAID
PARCEL 2 AS FOLLOWS:
SOUTH 51°27' 00"EAST 481.12 FEET; SOUTH 38°33'00"WEST 150.00 FEET;AND SOUTH
51°27' 00"EAST 30.00 FEET TO THE INTERSECTION WITH THE SOUTHEASTERLY LINE
OF SAID LOT 5; THENCE SOUTHWESTERLY AND WESTERLY ALONG THE
SOUTHEASTERLY AND SOUTHERLY LINE OF SAID LOT 5 TO ITS POINT OF
INTERSECTION WITH THE SOUTHERLY LINE OF HUNTINGTON DRIVE, 80.00 FEET IN
WIDTH, AS THE SAME IS DESCRIBED IN THE DEED TO THE CITY OF ARCADIA,
RECORDED IN BOOK 9396, PAGE 145, OF OFFICIAL RECORDS, OF SAID COUNTY;
THENCE EASTERLY AND NORTHEASTERLY ALONG THE SOUTHERLY AND
SOUTHEASTERLY LINE OF SAID HUNTINGTON DRIVE,TO THE POINT OF BEGINNING.
EXCEPTING THEREFROM THE NORTHEASTERLY 260 FEET, MEASURED AT RIGHT
ANGLES TO THE NORTHEASTERLY LINE THEREOF, AND ALSO EXCEPTING
THEREFROM THAT PORTION THEREOF LYING SOUTHWESTERLY OF A LINE
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE SOUTHEASTERLY LINE OF HUNTINGTON DRIVE 80
FEET WIDE,AS DESCRIBED IN DEED TO CITY OF ARCADIA,RECORDED IN BOOK 9396,
PAGE 145, OFFICIAL RECORDS OF SAID COUNTY, SAID POINT BEING
SOUTHWESTERLY 1859.0 FEET FROM THE MOST WESTERLY CORNER OF THAT
PARCEL OF LAND CONVEYED TO THE LOS ANGELES TURF CLUB, INC., AND
DESCRIBED AS PARCEL 2 IN DEED RECORDED IN BOOK 12619,PAGE 275,OF OFFICIAL
RECORDS OF SAID COUNTY; THENCE SOUTHEASTERLY IN A DIRECT LINE TO A
POINT OF INTERSECTION WITH THE SOUTHEASTERLY LINE OF LOT 5 OF TRACT 949;
SAID POINT OF INTERSECTION BEING 4043.0 FEET SOUTHWESTERLY FROM THE
NORTHEAST CORNER OF SAID LOT 5, MEASURED ALONG THE SOUTHEASTERLY
LINES OF SAID LOT 5.
60186.800 968756.2 6
EXHIBIT "B"
PARCEL 2:
THE NORTHEASTERLY 260 FEET, MEASURED AT RIGHT ANGLES TO THE
NORTHEASTERLY LINE THEREOF, OF THAT PORTION OF LOT 5, TRACT NO. 949, IN
THE CITY OF ARCADIA, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA,AS PER
MAP RECORDED IN BOOK 17, PAGE 13, OF MAPS, IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST WESTERLY CORNER OF THAT PARCEL OF LAND
CONVEYED TO THE LOS ANGELES TURF CLUB, INC., AND DESCRIBED AS PARCEL 2
IN DEED RECORDED IN BOOK 12619, PAGE 275, OF OFFICIAL RECORDS OF SAID
COUNTY; THENCE ALONG THE BOUNDARY OF THE LAND DESCRIBED IN SAID
PARCEL 2 AS FOLLOWS:
SOUTH 51°27' 00"EAST 481.12 FEET;SOUTH 38°33'00"WEST 150.00 FEET;AND SOUTH
51°27' 00"EAST 30.00 FEET TO THE INTERSECTION WITH THE SOUTHEASTERLY LINE
OF SAID LOT 5; THENCE SOUTHWESTERLY AND WESTERLY ALONG THE
SOUTHEASTERLY AND SOUTHERLY LINE OF SAID LOT 5, TO ITS POINT OF
INTERSECTION WITH THE SOUTHERLY LINE OF HUNTINGTON DRIVE, 80.00 FEET IN
WIDTH, AS THE SAME IS DESCRIBED IN THE DEED TO THE CITY OF ARCADIA,
RECORDED IN BOOK 9396, PAGE 145, OF OFFICIAL RECORDS OF SAID COUNTY;
THENCE EASTERLY AND NORTHEASTERLY ALONG THE SOUTHERLY AND
SOUTHEASTERLY LINE OF SAID HUNTINGTON DRIVE,TO THE POINT OF BEGINNING.
APN: 8940-013-005
60186.800 968756.2 7