City of Culver City, California
Redevelopment Agency Agenda Item Report
RECOMMENDATION:
Staff recommends the Culver City Redevelopment Agency (“Agency”) approve an
Implementation Agreement with Axis Mundi RE II, LLC, for the development of the
Baldwin Site at 12803-23 West Washington Boulevard (the “Site”).
BACKGROUND:
On February 4, 2008, the Agency approved a Disposition and Development
Agreement (DDA) with Axis Mundi RE II, LLC (“Axis Mundi”) which provides for the
sale of the Site to Axis Mundi and the subsequent development of the Site by Axis
Mundi. The development proposed for the Site will create: a 37,000 square foot
commercial building featuring office condominiums above ground floor retail, a 39
space public parking lot to be operated in partnership with the City, underground
parking for the office users, extensive environmentally friendly “green” features and
incorporates the public art component into the building design.
The DDA contained a Schedule of Performance, which listed tasks and dates which
the parties must achieve leading to the sale and development of the Site. On
August 20, 2008, Axis Mundi wrote to the Assistant Executive Director to request
revisions to the Schedule of Performance. The request was made necessary
because the current economic conditions have delayed Axis Mundi’s ability to
secure financing for the project.
On October 6, 2008, the Agency met in closed session to give negotiation
instructions to staff regarding the requested changes to the terms of the sale of the
Site.
Meeting Date: 12/08/2008 Item Number: A-1
AGENDA ITEM: Approval of an Implementation Agreement with Axis Mundi RE II,
LLC, for Development of the Baldwin Site (12803-23 West Washington Boulevard.)
Contact Person/Dept.: John Fisanotti Phone Number: (310) 253-5767
Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: [X]
Public Notification:
Master E-Mail Notification List (12/03/08)
Department Approval:
Sol Blumenfeld (11/19/08)
Exec. Director Approval:
Jerry B. Fulwood (12/02/08)
Chief Financial Officer Approval:
Jeff Muir (12/02/08)
City of Culver City, California
Redevelopment Agency Agenda Item Report
DISCUSSION:
Recent economic events have affected Axis Mundi’s ability to line up the financing
needed to meet its obligations in the Schedule of Performance to the DDA. After
considering its options, the Agency directed staff to prepare amendments to the
DDA in the form of an Implementation Agreement. The Implementation Agreement,
which is enclosed in the Agenda packet as Attachment No. 1, is consistent with the
negotiation instructions given to staff.
The primary revisions to the terms of the sale of the Site which are incorporated into
the Implementation Agreement are:
• The close of escrow was moved back six months from December 10, 2008 to
June 10, 2009;
• The buyer’s second deposit into escrow is no longer due when entitlements
for the Site are obtained. The deposit is now due 60 days before the close of
escrow.
Other, secondary revisions incorporated into the Implementation Agreement include:
• Clean up of inconsistencies in the original Schedule of Performance;
• Minor Revisions to the Subterranean Easement Agreement.
FISCAL ANALYSIS:
Approval of the proposed Implementation Agreement does not change the financial
terms of the DDA. It does give the developer more time to arrange financing and to
close escrow on the purchase of the Site from the Agency. If the Implementation
Agreement is approved, then the land sale proceeds the Agency expects to realize
will still be received in Fiscal Year 2008-09, just as in the original DDA.
Barring any further time extensions, the Agency will receive $3.2 million in land sale
proceeds no later than June 2009. In June 2007, the City loaned $9 million to the
Agency, to be repaid from land sale proceeds. The Agency has made one payment
so far and the loan balance is currently $7 million. Proceeds received from the sale
of the Site in June 2009 will still be received in time to make a payment against the
remaining balance of the loan during Fiscal Year 2008/2009.
ATTACHMENTS:
1. Implementation Agreement City of Culver City, California
Redevelopment Agency Agenda Item Report
MOTION:
That the Redevelopment Agency:
1. Approve an Implementation Agreement with Axis Mundi, RE II, LLC for the
development of the Baldwin Site (12803-23 West Washington Boulevard.);
and,
2. Authorize the Agency General Counsel to review/prepare the necessary
documents; and,
3. Authorize the Executive Director to execute such documents.
MEETING DATE: 12/08/08
AGENDA ITEM: Authorization for the Executive Director to Execute an
Implementation Agreement with Axis Mundi RE II, LLC, for Development of the
Baldwin Site (12803-23 West Washington Boulevard.)
ATTACHMENTS
Pages
1. Implementation Agreement 1-15FIRST IMPLEMENTATION AGREEMENT
TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT
by and between
THE CULVER CITY REDEVELOPMENT AGENCY
and
AXIS MUNDT RE II, LLCFIRST IMPLEMENTATION AGREEMENT TO THE
DISPOSITION AND DEVELOPMENT AGREEMENT
This FIRST IMPLEMENTATION AGREEMENT TO THE DISPOSITION AND DEVELOPMENT
AGREEMENT ("First Implementation Agreement") is dated as of , 2008, and is
entered into by and between the CULVER CITY REDEVELOPMENT AGENCY, a public body, corporate
and politic ("Agency"), and AXIS MUNDI RE II, LLC, a California limited liability company ("Developer"),
with reference to the following facts:
RECITALS
A. The Agency and Developer entered into that certain Disposition and Development Agreement dated
as of February 7, 2008, pertaining to the development and construction of a high quality 37,300
square foot commercial/office condominium building ("the Project"). The DDA is incorporated
herein by this reference. DDA as used herein shall mean, refer to and include the DDA, as well as
any riders, exhibits, addenda, implementation agreements, amendments and attachments thereto
(which are hereby incorporated herein by this reference). Any capitalized term not defined herein
shall have the meaning ascribed to such term in the DDA.
B. Due to the current turmoil in the national economy, Developer has requested, and the Agency has
agreed, to adopt a revised development and construction schedule for the Project to replace
Attachment No. 3 to the DDA, as set forth in the Revised Schedule of Performance, attached hereto
as Attachment No. 1.
C. Developer and Agency additionally agree to adopt the Revised Subterranean Encroachment
Agreement to replace Attachment No. 10 to the DDA, in a form approved by the City Engineer and
attached hereto as Attachment No. 2.
NOW, THEREFOR, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:
1. Recitals
The Recitals and attachments referenced above are hereby incorporated by reference into this First
Implementation Agreement and adopted by the parties to this First Implementation Agreement as
true and correct.
2. Schedule Changes
The Developer's obligations regarding the schedule of development and construction for the Project
shall be in accordance with the Revised Schedule of Performance, attached hereto as Attachment No.
1. The Revised Schedule of Performance shall supersede in its entirety the Schedule of Performance
attached to the DDA as Attachment No. 3 and any conflicting language in the DDA.
Version 13. Subterranean Encroachment.
The Developer's obligations regarding the subterranean encroachment contemplated by Section 801
of the DDA shall be in accordance with the Revised Subterranean Encroachment Agreement,
attached hereto as Attachment No. 2. The Revised Subterranean Encroachment Agreement shall
supersede in its entirety the Subterranean Encroachment Agreement attached to the DDA as
Attachment No. 10.
4. Binding on Successors and Assigns. This Agreement and all of the terms and conditions herein shall
be binding upon and inure to the benefit of the successors, assignees, personal representatives, heirs
and legatees of the parties.
5. DDA in Full Force and Effect. Except as otherwise expressly provided herein, the terms and
conditions of the DDA shall remain unmodified and in full force and effect.
6.
Further Assurances. The parties agree to execute such other documents and to take such other action
as may be reasonably necessary to further the purposes of this Agreement.
7. Third Party Beneficiaries. The parties to this Agreement acknowledge and agree that the provisions
of this Agreement are for the sole benefit of Agency and Developer, and not for the benefit, directly
or indirectly, of any other person or entity.
8.
Effectiveness of this Agreement. This Agreement shall not be effective unless and until both of the
following conditions have been satisfied:
a. This Agreement has been duly approved by the Agency; and
b.
This Agreement has been duly executed by the Agency and Developer.
SIGNATURES ON NEXT PAGE
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Version IBy: James Suhr & Associates, LLC,
a California limited liability company,
Member
Date:
/I
The date of this Agreement shall be the date it is signed by the Agency.
DEVELOPER
AXIS MUNDT RE II, LLC, a California limited
liability company
By: Walter N. Marks Realty Company,
a California corporation, Member
CULVER CITY REDEVELOPMENT AGENCY
Date: By: Jerry Fulwood
Executive Director
APPROVED AS TO FORM:
KANE, BALLMER & BERKMAN
By:
Murray 0. Kane
Agency General Counsel
Version 1
LiATTACHMENT NO. 1
REVISED SCHEDULE OF PERFORMANCE
I. GENERAL PROVISIONS
I. Opening of Escrow. Opening of escrow Within five (5) days of the Agency's
shall occur. execution of the DDA.
2. Submission - Architect, Landscape Architect Within seven (7) days of Agency
and Civil Engineer. Developer shall submit execution of the DDA.
to Agency for approval of the names and
qualifications of its architect, landscape
architect, and civil engineer.
3. Approval - Architect, Landscape Architect Within seven (7) days following receipt
and Civil Engineer. Agency shall approve by the Agency.
or disapprove the architect, landscape
architect, and civil engineer.
II. ACQUISTION
1. Submission of First Deposit. Developer shall
deposit into escrow the First Deposit in the
amount of $160,000.
2. Submission of Second Deposit. Developer
shall deposit into escrow the Second Deposit
in the amount of $640,000.
3. Submission of Final Deposit. Developer
shall deposit into escrow the Second Deposit
in the amount of $2,400,000.
4. Close of Escrow. Developer shall satisfy all
conditions precedent to conveyance of the
Site listed under Sections 215(a)(1)-(10) and
216(a)(1)-(5) of the DDA.
Within five (5) business days after
execution of the DDA by the Agency
and upon opening of Escrow.
No later than sixty (60) days prior to
Close of Escrow.
At least two (2) business days prior to
Close of Escrow.
No later than June 10, 2009_
HI. DEVELOPMENT
Submission — Schematic Level Drawings.
Developer shall prepare and submit to
Agency the Schematic Level Drawings for
the Improvements on the Site.
Within thirty (30) days of execution of
the DDA by the Agency.
Version.]
Attachment No.2. Approval - Schematic Level Drawings. Within seven (7) business days after
Agency shall approve or disapprove the receipt by Agency.
Schematic Level Drawings for the
Improvements on the Site.
3. Submission - Preliminary Construction Within ninety (90) days after Agency's
Drawings, and Preliminary Landscaping and approval of Schematic Level Drawings.
Grading Plans. Developer shall prepare and
submit to Agency preliminary construction
drawings and preliminary landscaping and
grading plans for the Improvements on the
Site.
4. Approval - Preliminary Construction Within fifteen (15) business days after
Drawings, and Preliminary Landscaping and receipt by Agency.
Grading Plans Agency shall approve or
disapprove the preliminary construction
drawings and preliminary landscaping and
grading plans for the Site.
5. Submission - Local Storm Water Pollution No later than March 16, 2009.
Prevention Plan ("LSWPPP") and Standard
Urban Storm Water Mitigation Plan
("SUSMP"). Developer shall obtain written
approval from the City Engineer or designee
of a LSWPPP and SUSMP for the
Improvements on the Site.
6. Submission - Final Construction Drawings No later than April 13, 2009.
and Landscaping and Finish Grading Plans.
Developer shall prepare and submit the final
construction drawings and specifications and
the final landscaping and finish grading
plans for the Improvements on the Site.
7. Approval - Final Construction Drawings and Within seven (7) business days after
Landscaping and Finish Grading Plans. receipt by Agency.
Agency shall approve or disapprove the final
construction drawings and specifications and
the final landscaping and finish grading
plans for the Improvements on the Site.
Version 1
Attachment No. lNo later than sixty (60) days prior to
Close of Escrow.
7. First Submission of Evidence of Financing.
Developer shall submit to Agency for
approval the First Submission of evidence of
financing in accordance with Section 214 of
the DDA.
8. Building Permit. Developer shall obtain a
building permit for the Project
9. Approval of Financing. Agency shall
approve or disapprove the First Submission
of evidence of financing with respect to the
Site, and shall so notify Developer.
10. Second Submission of Evidence of
Financing. Developer shall submit to
Agency for approval the Second Submission
of evidence of fmancing in accordance with
Section 214 of the DDA.
11_ Approval of Financing. Agency shall
approve or disapprove the Second
Submission of evidence of financing with
respect to the Site, and shall so notify
Developer.
12. Site Mobilization. Developer shall
commence Site mobilization.
13_ Site Preparation_ Developer shall commence
Site preparation, including utility relocation.
14. Commencement of Construction/Site
Excavation. Developer shall commence
construction and Site excavation.
15. Completion of Construction. Developer
shall complete construction of all the
Improvements on the Site in accordance
with the DDA.
No later than thirty (30) days prior to
Close of Escrow.
With respect to the First Submission,
within fifteen (15) business days after
receipt of such submission by Agency.
No later than thirty (30) days prior to
Close of Escrow.
With respect to the Second Submission,
within fifteen (15) business days after
receipt of such submission by Agency.
Within seven (7) day after Close of
Escrow.
Within seven (7) days after Close of
Escrow.
Within seven (7) day after Close of
Escrow.
Within twenty-one (21) months after
Developer's contractor commences
construction.
Version 1
Attachment No. 1ATTACHMENT NO. 2
REVISED SUBTERRANEAN
ENCROACHMENT AGREEMENT
OFFICIAL BUSINESS
Document entitled to free recording
per Government Code Section 6103
RECORDING REQUES'i ED BY
AND WHEN RECORDED MAIL TO:
THE CULVER CITY REDEVELOPMENT AGENCY
9770 Culver Boulevard
Culver City, California 902324)507
Attention: John Fisanotti
SPACE ABOVE THIS LINE FOR RECORDER'S USE
SUBTERRANEAN
ENCROACHMENT AGREEMENT
THIS SUB MRANEAN ENCROACHMENT AGREEMENT ("Agreement") dated as
of this day of , 2008, is entered into by and between CITY OF CULVER
CITY, a public body, corporate and politic ("Grantor"), THE CULVER CITY
REDEVELOPMENT AGENCY, a public body, corporate and politic ("Owner") and AXIS
MUNDI RE II, LLC, a California limited liability company ("Grantee") with reference to the
facts set forth below:
RECITALS
A.
The Owner is owner in fee of certain real property in the City of Culver City,
County of Los Angeles, State of California, more particularly described in Exhibit "A" attached
hereto and made a part hereof (the "Owner's Property").
B. The Grantor is the owner of an easement for public street purposes over a certain
portion of the Owner's Property, more particularly described in Exhibit "B" attached hereto and
made a part hereof (the "Grantor's Street Easement").
C. Grantee desires a subterranean encroachment over a portion of the Grantor's
Street Easement for the purpose of developing a subterranean parking garage ("Parking Garage")
in accordance with that certain Disposition and Development Agreement, dated 2008 ("DDA") entered into by and between the Owner ("Agency" therein) and Grantee
("Developer" therein).
Version 1
11/18/2008
Page 1 of 5D. In connection with the construction of the Parking Garage, Grantee desires to
excavate a certain portion of and erect certain structures upon and within the Owner's Property
and Grantor's Street Easement.
E. The parties now desire to enter into this Agreement to provide for certain rights
with respect to such excavation and construction, and to provide also for the granting of certain
rights to Grantee over the Owner's Property and Grantor's Street Easement in connection with
the DDA.
NOW, THEREFORE, in consideration of the mutual promises herein contained, and for
other good and valuable consideration, the parties hereto do hereby agree as follows:
1. Excavation of Grantor Property. Grantee intends to excavate within the following
dimensions below the present surface area of the Owner's Property and
Grantor's Street Easement ("Excavation Area"), commencing approximately
[date]. Grantee shall construct retaining walls, shoring, underpinning and
any other structures, or undertake any other measures reasonably necessary to prevent loss of
lateral support to the Grantor's Street Easement and Owner's Property or any structures thereon.
Prior to recordation of this Agreement, Grantee shall provide Grantor and Owner with a copy of
the shoring plan for such work prior to the commencement thereof. Prior to recordation of this
Agreement, Grantee shall also provide to Grantor and Owner an ALTA survey of the Excavation
Area performed by a California licensed civil engineer. Prior to recordation of this Agreement,
Grantee shall obtain all required approvals and shall pay all expenses in connection with such
activities, including, without limitation, payment for removal and relocation of any utilities
located within the proposed Excavation Area ("Utilities") and full compensation or
indemnification of Grantor and Owner for any property damage or personal injuries resulting
therefrom. Grantor and Owner hereby consent to such excavation and the protective measures
described herein.
2. Grant of Tieback Easement. Owner and Grantor do hereby create, grant, and
convey to Grantee a temporary encroachment in, to, and under the Owner's Property and
Grantor's Street Easement for the purpose of installing and maintaining tiebacks which are
necessary to be installed in connection with the shoring system being constructed in conjunction
with the construction by Grantee of the Parking Garage. Such temporary encroachment shall be
referred to herein as the "Tieback Encroachment". Prior to completion of the Parking Garage,
Grantee shall de-tension and remove the tiebacks. The location of tiebacks should be shown on a
shoring plan to be reviewed and approved by the City Engineer prior to commencement of
excavation.
3. Grant of Parking Garage Encroachment. Grantor and Owner do hereby create,
grant, and convey to Grantee an irrevocable, exclusive right in, to, over, and under the Owner's
Property and Grantor's Street Easement for the purpose of constructing, installing, maintaining,
and using the Parking Garage; provided, however, that Grantor reserves the right, on behalf of
itself and the owner(s) of any Utilities removed and relocated by Grantee within the Excavation
Area (Utilities"), to install the Utilities within the Parking Garage and have reasonable access in,
to, over, and under the Parking Garage, at no cost to Grantor or the owner(s) of the Utilities, for
the purpose of installing and maintaining the Utilities ("Grantor's Reservation"). Such
Version
11/18/2008
Page 2 of 5encroachment, subject to Grantor's Reservation, shall be referred to herein as the "Parking
Garage Encroachment."
4. Indemnification. Grantee shall indemnify, defend and save Grantor and Owner
harmless from any and all costs, losses, liabilities or damages resulting from bodily injury,
property damage or loss of business income suffered by Grantor, Owner, or their respective
tenants, guests, invitees, agents, representatives, or employees which may occur on the Grantor's
Street Easement or Owner's Property in connection with the Grantee's activities within the
Excavation Area or the grant of any encroachment hereunder, except to the extent such costs,
losses, liability or damages are the result of the intentional or negligent actions of Grantor,
Owner or their respective tenants, guests, invitees, representatives, agents or employees.
5. Miscellaneous Provisions.
(a) All of the rights and obligations and covenants, agreements and conditions
contained in this Agreement shall be binding upon and shall inure to the benefit of Grantor,
Grantee and Owner, their respective heirs, successors and assigns, devisees, administrators,
representatives, tenants and all other persons acquiring either the Grantor's Street Easement
and/or the Owner's Property, or any portion thereof, or any interest therein, whether by operation
of law or in any manner whatsoever and all of the easements, rights and obligations and
covenants, agreements and conditions contained in this Agreement shall run with the land and
shall be enforceable in accordance with applicable law, including, but not limited to, the law of
contracts, easements, equitable servitudes and the provisions of Section 1468 of the California
Civil Code.
(b) All of the provisions of this Agreement shall be covenants running with
the land pursuant to applicable law.
(c) Nothing in this Agreement is intended nor shall it be construed as creating
any rights in or for the benefit of the general public, and each owner of the properties affected
hereby retains the right to take any action as may be reasonably necessary to avoid the accrual of
any rights in the general public by easement, prescription, adverse possession, or otherwise with
respect to the Grantor's Street Easement or the Owner's Property.
(d) In the event that any term, covenant, condition, provision, or agreement
herein contained is held to be invalid, void or otherwise unenforceable by any court of competent
jurisdiction, the fact that such term, covenant, condition, provision or agreement is invalid, void
or othei wise unenforceable shall in no way affect the validity or enforceability of any other term,
covenant, condition, provision or agreement herein contained.
(e)
No breach of any term, covenant, condition, restriction, provision or
agreement herein contained, nor the enforceability of any provision herein, shall affect, impair,
defeat, or render invalid the lien or charge of any duly recorded mortgage or deed of trust made
in good faith and for value encumbering either the Grantee's Street Easement or the Owner's
Property, but all of said terms, covenants, conditions, restrictions, provisions and agreements
shall be binding upon and effective against any person whose title to either of such properties is
derived through foreclosure or trustee's sale.
Version 1
11/18/2008
Page 3 of 5(f)
This Agreement is not intended to create a joint venture, partnership, or
agency relationship between or among the parties hereto, nor is it intended to create joint
ownership by the parties hereto of either the Grantee's Street Easement or the Owner's Property,
nor is it intended to create or constitute a "condominium project" or other "common interest
development" as defined by applicable law.
(g) This Agreement shall be governed by and construed in accordance with
the laws of the State of California.
(II) The waiver of or failure to enforce any breach or violation of any covenant
herein contained shall not be deemed to be a waiver or abandonment of such covenant, or any
waiver of the right to enforce any subsequent breach or violation of such covenant.
In the event of any litigation or dispute between the parties hereto or the
institution of any action or proceeding to interpret or enforce this Agreement, or arising out of
the subject matter of this Agreement or the transactions contemplated hereby, the prevailing
party shall be entitled to recover its actual expenses, its actual attorneys' fees and costs,
including professional or expert consultation or testimony, in-house counsel fees and paralegal
fees.
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Version 1
11/18/2008
Page 4 of 5Version 1
1/18/2008
By: James Suhr & Associates, LLC,
a California limited liability company,
Member
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Page 5 of 5
Date:
EN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day
and year first written above.
Grantor:
Owner:
CITY OF CULVER gry,
CULVER CITY REDEVELOPMENT
a public, non-profit corporation
AGENCY
By: By: Name: Jerry B. Fulwood
Title: Executive Director
By: Name: Title: AXIS MUNDT RE H, LLC, a California limited
liability company
By: Walter N. Marks Realty Company,
a California corporation, MemberSignature otary Public
State of California
)
)
County of Los Angeles
)
On Oki 11 , 2008 before me, E... (here insert name of the
officer), Notary Public, personally appeared 0,)141...X-c 1 / 442._ , lit , who
proved to me on the basis of satisfactory evidence to be the person( whose name(s1 is/&e
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in his/w/ther authorized capacity(ios), and that by his/her/their signature(e)- on the instrument
the person, or the entity upon behalf of which the person(st 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.
E. FLYNN
Commission * 17161911
Notary Public - California I
temee
la mpurtgu s .:=.1. ngeles Cou o,...ligj nty
Caron .icri30,2011
[Seal]
State of California
)
)
County of Los Angeles )
On A.10 \I . - , 2008 before me, E., (here insert name of the
officer), Notary Public, personally appeared - -•, who
proved to me on the basis of satisfactory evidence to be the person.(srwhose name(s-) . is/ape
subscribed to the within instrument and acknowledged to me that he/she/they executed the same
in his/hef/tiaelr authorized capacity(ios), and that by his/her/ther signature(s)-on the instrument
the person(e)7 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 ailid official deal.
_ E. FLMiladhali
.411111in -- Commission • 1716194
-2!
Notary Public - California
Los Angeles County
CLtesJc3O.2O11
Sig/natur Notary Public
[Seal]EXHIBIT A
LEGAL DESCRIPTION OF OWNER'S PROPERTY
Real property in the City of Culver City, County of Los Angeles, State of California, described
as follows:
LOTS 55, 56, 57, 58, 59, 60, 61, 62 and 63 of TRACT NO. 5951, IN THE CITY OF CLTLVER
CITY, AS PER MAP RECORDED IN BOOK 77 PAGE 72 OF MAPS, IN THE OFFICE OF
THE COUNTY RECORDER OF SAID COUNTY.
APN: 4236-021-007; 4236-021-008; 4236-021-009; 4236-021-010 (Old APN)
4236-021-900; 4236-021-901; 4236-021-902; 4326-021-903 (Current APN)EXHIBIT "B"
DESCRIPTION OF GRANTOR'S PROPERTY
The north half of Washington Boulevard, between Moore and Meier Streets, and the east half of
Moore Street and the west half of Meier Street, bounded by Washington Boulevard to the south
and the City of Culver City boundary to the north, all within the City of Culver City, County of
Los Angeles, State of California, as shown on Tract No. 5951 recorded on Book 77, Page 72 of
Maps.