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ORD 587U ORDINANCE NO. 587U AN URGENCY ORDINANCE OF THE CITY OF RANCHO PALOS VERDES APPROVING AMENDMENT NO. 16 TO THE TRUMP NATIONAL DEVELOPMENT AGREEMENT, AUTHORIZING AN EXTENSION TO THE DEVELOPMENT AGREEMENT TO SEPTEMBER 21, 2018, AND DECLARING THE URGENCY THEREOF. WHEREAS, California Government Code Section 65864 et seq. authorizes cities to enter into development agreements with private property owners; and WHEREAS, the Rancho Palos Verdes City Council (the "City Council") previously adopted Ordinance No. 328 approving that certain Development Agreement (the "Development Agreement") by and between the City of Rancho Palos Verdes (the "City") and Palos Verdes Land Holdings Company, L.P., a California limited partnership, and the Zuckerman Entities (as defined in the Development Agreement), dated as of November 20, 1997, and recorded on December 8, 1997, as Instrument No. 97-1929840 in the Official Records of Los Angeles County, California; and WHEREAS, pursuant to Government Code Section 65868, development agreements may be amended; and WHEREAS, the City Council previously approved an Amendment to Ocean Trails Development Agreement (the "First Amendment"), by and between the City and Ocean Trails, L.P., the successor in interest to Palos Verdes Land Holdings Company, L.P. and the Zuckerman Entities, on September 18, 2001, and recorded on December 3, 2001 as Instrument No. 01-2301342 in the Official Records of Los Angeles County, California. Additionally, the City Council previously approved a second Amendment to the Ocean Trails Development Agreement (the "Second Amendment"), by and between the City and VH Property Corp., a Delaware corporation, on March 4, 2003, and recorded as Instrument No. 03-1139102. Furthermore, the City Council previously approved a third Amendment to the Ocean Trails Agreement (the "Third Amendment") by and between the City and VH Property Corp., a Delaware corporation, on November 20, 2007. Furthermore, the City Council previously approved a fourth Amendment to the Ocean Trails Agreement (the "Fourth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on March 4, 2008. Furthermore, the City Council previously approved a fifth Amendment to the Ocean Trails Agreement (the "Fifth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on July 15, 2008. Furthermore, the City Council previously approved a sixth Amendment to the Ocean Trails Agreement (the "Sixth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on October 21, 2008. Furthermore, the City Council previously approved a seventh Amendment to the Ocean Trails Agreement (the "Seventh Amendment") by and between the City and VH Property Corp., a Delaware corporation, on January 21, 2009. Furthermore, the City Council previously approved an eighth Amendment to the Ocean Trails Agreement (the "Eighth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on September 15, 2009. Furthermore, the City Council previously approved a ninth Amendment to the 01203.0005/307606.1 Ocean Trails Agreement (the "Ninth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on March 16, 2010. Furthermore, the City Council previously approved a tenth Amendment to the Ocean Trails Agreement (the "Tenth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on September 21, 2010. Furthermore, the City Council previously approved an eleventh Amendment to the Ocean Trails Agreement (the "Eleventh Amendment") by and between the City and VH Property Corp., a Delaware corporation, on March 15, 2011. Furthermore, the City Council previously approved a twelfth Amendment to the Ocean Trails Agreement (the "Twelfth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on September 20, 2011. Furthermore, the City Council previously approved a thirteenth Amendment to the Ocean Trails Agreement (the "Thirteenth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on March 6, 2012. Furthermore, the City Council previously approved a fourteenth Amendment to the Ocean Trails Agreement (the "Fourteenth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on August 7, 2012. Furthermore, the City Council previously approved a fifteenth Amendment to the Ocean Trails Agreement (the "Fifteenth Amendment") by and between the City and VH Property Corp., a Delaware corporation, on September 16, 2014. The Development Agreement, First Amendment, Second Amendment, Third Amendment, Fourth Amendment, Fifth Amendment, Sixth Amendment, Seventh Amendment, Eighth Amendment, Ninth Amendment, Tenth Amendment, Eleventh Amendment, Twelfth Amendment, Thirteenth Amendment, Fourteenth Amendment, and Fifteenth Amendment are sometimes referred to collectively herein as the "Agreement"; and WHEREAS, VH Property Corp. ("Developer") is the successor in interest to Ocean Trails, L.P; and WHEREAS, the parties wish to extend the life of the Development Agreement from September 21, 2016 through September 21, 2018; and WHEREAS, the City Council conducted a duly noticed public hearing on August 16, 2016, at which time all interested parties were given an opportunity to be heard and present evidence regarding the proposed Sixteenth Amendment. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES DOES HEREBY ORDAIN AS FOLLOWS: Section 1. The proposed Sixteenth Amendment to the Development Agreement makes a minor amendment to the Development Agreement to extend its life from September 21, 2016 through September 21, 2018. This minor change to the Development Agreement does not make any physical change to the Project or to the conditions of approval that were imposed on the Project and conforms to the maps and policies of the City's General Plan. Accordingly, the revision to the Development Agreement is consistent with all applicable provisions of the General Plan. Ordinance No. 587U Page 2 of 4 Section 2. The proposed Sixteenth Amendment to the Development Agreement complies with the requirements of California Government Code Sections 65865 through 65869.5. Section 3. The proposed Sixteenth Amendment to the Development Agreement will not be detrimental, or cause adverse effects, to adjacent property owners, residents, or the general public, since the project will be constructed in accordance with the plans that were approved previously by the City Council, including any amendments to the plans that have been approved previously by the City Council. Section 4. The proposed Sixteenth Amendment to the Development Agreement does not alter the clear and substantial benefit to the residents of the City of the Project, since the proposed amendment makes no substantive changes to the Project or to the Development Agreement. Section 5. During the original ten-year term of the Development Agreement a major landslide occurred on the property that is subject to the Development Agreement. The landslide delayed completion of the project for several years while the landslide was being studied and repaired. In addition, two additional landslides on the property caused geologic concerns regarding the completion of the portion of the project that is within Tentative Tract Map No. 50666. The geologic issues were not easily resolved and required a panel of three experts to be retained by the City, as requested by the Developer. The failure to resolve these geologic issues in a satisfactory manner could result in additional land failures on the site, which could have an immediate and adverse impact upon the public health, safety and welfare. Furthermore, California Government Code Section 66452.24 requires the extension of the life of Vesting Tentative Tract Map No. 50666 for an additional two-year term, because the Map is consistent with the City's General Plan, Local Coastal Plan and Zoning Ordinance, and said Map is a portion of the "Development Plan" that said Development Agreement assures the Developer to be able to complete. If the Development Agreement is not extended to September 21, 2018, the Vesting Tentative Tract Map No. 50666 would continue to be in effect without the benefit of the Development Agreement to govern various provisions of the "Development Plan". Further, the Development Agreement needs to be revised to consider amendments over the past years and if it expires, the parties will not be able to revise its terms before it expires. This urgency ordinance, therefore, is necessary for the protection of the public health, safety and welfare and shall take effect immediately upon adoption as an urgency ordinance. Section 6. For the foregoing reasons, and based on the information contained in the staff reports, supporting documentation, minutes and other records of the proceedings, all of which are incorporated herein by this reference, the City Council hereby approves the proposed Sixteenth Amendment to the Development Agreement with VH Property Corp., which amendment is attached hereto as Exhibit "A" and incorporated herein by this reference. Section 7. The City Clerk shall cause this Urgency Ordinance to be posted in three (3) public places in the City within fifteen (15) days after its passage, in accordance Ordinance No. 587U Page 3 of 4 with the provisions of Section 36933 of the Government Code. The City Clerk shall further certify to the adoption and posting of this Ordinance, and shall cause this Ordinance and its certification, together with proof of posting, to be entered in the Book of Ordinances of the Council of this City. Section 8. This Ordinance shall go into effect and be in full force and effect immediately upon its passage. This ordinance is effective until 11:59 p.m. on September 21, 2018, unless further extended by the City Council by the adoption of another ordinance. PASSED, APPROVED and ADOPTED this 16th day of August 2016. May ATTEST: getit-A-4-fik7A — City Clerk STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES )ss CITY OF RANCHO PALOS VERDES ) I, Carla Morreale, City Clerk of the City of Rancho Palos Verdes, do hereby certify that the whole numbers of the City Council of said City is five; that the foregoing Ordinance No. 587U was duly and regularly adopted by the City Council of said City at a regular meeting thereof held on August 16, 2016 and that the same was passed by the following roll call vote: AYES: Brooks, Campbell, Misetich, and Mayor Dyda NOES: None ABSENT: Duhovic ABSTAINED: None 40a44, City Clerk Ordinance No. 587U Page 4 of 4 A This page is part of your document-DO NOT DISCARD 7,f,A44,0 20161223020 firlit7:(- Pk+ ).1114111111111011101101111111111 Pg$�s° Recorded/Filed in Official Records j � � ff Recorders Office, Los Angeles County, «���� CaliTo �c'it#01 *. 10/05/16 AT 04:65PM FEES: 0.00 TAXES: 0.00 OTHER: 0.00 PAID: 0.00 111111111011131111:1111011011111111110111111LEAD liii I II II II IIIII I II III IIIII ifi I II IIII III IIII HI I IIII 201670053270031 00012744085 III IIM IIHVIII�VI�I��l�l1n� 007853661 SEQ: 01 DAR - Counter tFont Scan) IIIOIIOI1I�III�IIN1IIIII� �11IIIiIIYIWMIll III011hIIIONI I111II10I1 II1u1 1111I01IU1111 I111'I101 ,I1 N A THIS FORM IS NOT TO BE DUPLICATED A E520311 Ordinance No.587U Exhibit A Page 1 of 6 10/0512016 RECORDING REQUESTED BY AND 11111111111111111111 WHEN RECORDED RETURN TO: *20161223020* CITY CLERK CITY OF RANCHO PALOS VERDES 30940 Hawthorne Boulevard Rancho Palos Verdes, CA 90275-5391 AMENDMENT NO. 16 TO TRUMP NATIONAL DEVELOPMENT AGREEMENT (Pursuant to California Government Code Section 65868) THIS AMENDMENT NO. 16 TO TRUMP NATIONAL DEVELOPMENT AGREEMENT("Sixteenth Amendment")is entered into this 16th day of August 2016 by and between VH Property Corp., a Delaware corporation("Developer"), and the City of Rancho Palos Verdes,a municipal corporation organized under the laws of the State of California(the"City"). RECITALS A. Palos Verdes Land Holdings Company,L.P.,a California limited partnership,and the Zuckerman Entities(as defined in the Agreement), as predecessors in interest to Developer,and City entered into that certain Development Agreement(the"Original Agreement")dated as of November 20, 1997, and recorded on December 8, 1997,as Instrument No. 97-1929840 in the Official Records of Los Angeles County,California,as amended by that certain Amendment to Ocean Trails Development Agreement(the"First Amendment"), dated as of September 18,2001,and recorded on December 3,2001 as Instrument No. 01-2301342 in the Official Records of Los Angeles County,California; and as further amended by that certain.Amendment No. 2 to Ocean Trails Development Agreement(the"Second Amendment"), dated as of March 4,2003,and recorded as Instrument No. 03-1139102 in the Official Records of Los Angeles County,California; and as further amended by that certain Amendment No. 3 to the Ocean Trails Development Agreement(the"Third Amendment"),approved on November 20,2007; and as further amended by that certain Amendment No.4 to the Ocean Trails Development Agreement(the"Fourth Amendment"),approved on March 4,2008; and as further amended by that certain Amendment No. 5 to the Ocean Trails Development Agreement(the"Fifth Amendment"), approved on July 15,2008; and as further amended by that certain Amendment No. 6 to the Ocean Trails Development Agreement(the "Sixth"Amendment), approved on October 21, 2008; and as further amended by that certain Amendment No. 7 to the Ocean Trails Development Agreement(the"Seventh" Amendment), approved on January 21,2009; and as further amended by that certain Amendment No. 8 to the Ocean Trails Development Agreement(the "Eighth" Amendment), approved on September 15,2009; and as further amended by that certain Amendment No. 9 to the Ocean Trails Development Agreement(the "Ninth" Amendment), approved on March 16,2010;and as further amended by that certain Amendment No. 10 to the Ocean Trails Development Agreement(the"Tenth" Amendment), approved on September 21,2010; and as further amended by that certain Amendment No. 11 to the Ocean Trails Development Agreement(the"Eleventh" Amendment), approved on March 15,2011;and as further amended by that certain Ordinance No.587U Exhibit A Page 2 of 6 Amendment No. 12 to the Ocean Trails Development Agreement(the"Twelfth" Amendment), approved on September 20,2011; and as further amended by that certain Amendment No. 13 to the Ocean Trails Development Agreement(the"Thirteenth" Amendment),approved on March 6, 2012;and as further amended by that certain Amendment No. 14 to the Ocean Trails Development Agreement(the"Fourteenth" Amendment),approved on August 7,2012;and as further amended by that certain Amendment No. 15 to the Ocean Trails Development Agreement(the"Fifteenth" Amendment),approved on September 16,2014; (referred to collectively with the Original Agreement,as the"Agreement"),pursuant to which Developer has certain vested rights to develop that certain real property described and/or depicted on Exhibit A attached hereto(the"Property"). Except as expressly stated to the contrary,all capitalized terms set forth herein shall have the same meaning as set forth in the Agreement. B. City previously approved Vesting Tentative Tract Map No. 50666 and Vesting Tentative Tract Map No. 50667 regarding the Property and subsequently approved certain amendments thereto. C. Final Tract Map No. 50667 was previously recorded as Instrument No. 99-1934089 in the Office of the County Recorder of Los Angeles County,California,on October 12, 1999. D. Both parties wish to extend the Development Agreement to September 21,2018. E. On August 16,2016,the City Council of City adopted Urgency Ordinance No. 587U,approving this Sixteenth Amendment. Developer and City desire to amend the Agreement to reflect the foregoing. AGREEMENT NOW,THEREFORE, in consideration of the foregoing recitals,and the mutual promises and agreements contained herein,and for other good and valuable consideration,the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows: 1. Section 7 of the Agreement, entitled Term, is hereby amended by replacing the paragraph with the following new paragraph,to read as follows: "7. Term. The term of this Agreement shall commence upon the Effective Date and shall continue until all building permits required to complete the development of the Project as contemplated by the Development Plan have been issued,provided that in no event shall such term exceed nineteen(19)years following the Effective Date of this Agreement." 2. Section 7 of the Agreement, entitled Term, is hereby amended by replacing paragraph 7.2 at the end of that Section 7 with the following new paragraph 7.2,to read as follows: "7.2 Extension of Development Agreement. This Development Agreement is hereby extended from September 21,2016 through September 21,2018. The term of Vesting Tentative Tract Map No. 50666 is hereby extended along with the term of this Development Agreement." 3. Full Force. Except as specifically set forth herein,the Agreement shall remain in full force and effect. Ordinance No.587U Exhibit A Page 3 of 6 4. Counterparts. This Sixteenth Amendment may be executed in one or l d x 0 4 2016 counterparts,each of which shall be deemed an original,but all of which shall constitute,.one and the same instrument. A facsimile signature shall be deemed an original signature. DEPARTMENT 5. Authority. The persons executing this Sixteenth Amendment on behalf of Developer and City represent and warrant that they are duly authorized so as to fully and legally bind Developer and City,respectively. IN WITNESS WHEREOF,this Sixteenth Amendment is executed as of the date first written above. "DEVELOPER": VH PROPERTY CORP., a Dela . e core ratio / 4 By• A Nam- Pad, k i1/41:13-ea+P Title: •REn.8e-- , 1 10 t4e:e'd ‘5'By. t Name: HOA) A ' "'t'i'c:+ Title: SICLEntiVid.,... THE"CITY": CITY OF RANCHO PALOS VE ES By .," ,,,,A , it„......" 4 May ATTEST: CLIe-AtaiZAtetil- 4lit-ioN? City cclerk 01203.0005/307604.1 Ordinance No.587U Exhibit A Page 4 of 6 STATE OF NEW YORK ) ss.: COUNTY OF NEW YORK ) On the 23rd day of September in the year 2016, before me, the undersigned, personally appeared Donald J. Trump, personally known to me or proved to me on the basis of satisfactory evidence to be the individualf) whose name* is (afe) subscribed to the within instrument and acknowledged to me that he/s ekh€y executed the same in his/ it capacity(4e9), and that by his/lex/weir signature4s) on the instrument, the individual(*), or the person upon behalf of which the individualN acted, executed the instrument. .1.07/ No ary R9111;*;:or: ; HOMY ct ABY QIialifiE-d in f!'�}�;�e'�, ro�L �Y`b Y :9rci: .f�F�s►s ` ti�lz �t f y "`SL. 6S �ef�'�'.9i' +�'�/ .✓vim.:.«s /7 STATE OF NEW YORK ) ss.: COUNTY OF NEW YORK ) On the 23rd day of September in the year 2016, before me, the undersigned, personally appeared Rhona Graff-Riccio,personally known to me or proved to me on the basis of satisfactory evidence to be the individual-whose name( is (ar,c) subscribed to the within instrument and acknowledged to me that4e/she/the.y.that- e/she/texecuted the same in l €/her/tl it capacity( , and that by Lirdher/tkoir signature( -on the instrument, the individual(; or the person upon behalf of which the individualk acted, executed the instrument. _ 424.1 4._ Ns.ary Public «h�. ian.f f,R< .,7 4 Ye.>`i1 Ace.V N VI NOTARY 'X A :.P :.:;:.si-A a York 0 1 I C r`'' ..,,. iP�'P'pt.y�,�f ,tns?SEafi#:l'i sy ttL«„,4k(otirty � 7!�f M �^e`,Y f C%`�.• yS:.?... .:u p€!- i+14;iF.-;1;wsdi 00 Ordinance No.587U Exhibit A Page 5 of 6 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§ 1189 xirlo t 1\,:-Ti1/4- - wte.4\\74s, 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 s PiirujeleS On OcAo _ise• 4 ) ;rot to before me, -1**.4ii.si).1na‘iotra.--"--rate-ittoir.4,i Date Here Insert Name and Title of thtivacer personally appeared er Namej,$),of Signea* who proved to me on the basis of satisfactory evidence to be the person*whose name.(s). is/afee subscribed to the within instrument and acknowledged to me that he/s1;tetthey-executed the same in his/be/their-authorized capacity(iebt and that by his/berftI -signature(s)-on the instrument the person( or the entity upon behalf of which the personceracted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph TERESA PRIMAVERA-TAKAOKA is true and correct. Commission#2113492 )1 Notary Public-California WITNESS my hand and official seal. V11,9 Los Angeles County t My Comm.Exoires Jun 26,2019 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: 0 Corporate Officer — Title(s): Li Corporate Officer — Title(s): 0 Partner — Li Limited El General 0 Partner — Ei Limited Li General LI Individual El Attorney in Fact Li Individual 0 Attorney in Fact El Trustee Li Guardian or Conservator LI Trustee El Guardian or Conservator LI Other: 0 Other: Signer Is Representing: Signer Is Representing: NPMWOMMige. -S(4-.74 ‘,4'4Y:4W4 • ,te.4.4f4W/ 'IgIAWK..."?..4ggagWX:1WWWWW$V2M.KA ©2014 National Notary Association •www.NationalNotary.org • 1-800-US NOTARY(1-800-876-6827) Item#5907 Ordinance No.587U Exhibit A Page 6 of 6 A This page is part of your document-DO NOT DISCARD ,•�,,�;, 20161223020 1III, IIIIII111.0111III IIIIII P0�06: 16017?Pf+ ` RecordedlFiled ficial Records 1: 31( ff RecoMeYs�aliforn California County, C44r011*' 10/05116 AT 04:55PM FEES: 0.00 TAXES: 0.00 OTHER: 0.00 PAID: 0.00 Ui I IIll 111110 II I I II 111111LEAD'�1�I�IIU 1 ILII 11111 l 11 1 1 III I IIII HEET Ii I111 IIII N Hi I II Iii loll 001 I11111 11111 111111111111 UH Hi I Ii 201 61 0053270031 00012744085 111I 111 I0 61 p 1 1u11 1 1 SEQ: 01 DAR - Counter ( front Scan) 111011110 11101 11111 11111 1111 I1lII1III1iFllll 110 111111 11111 11011 1111 III Ill 111111 111111 11111 11011 1111 1111 0110 1101 111111 1111 1111111011 111111111 10111 1111 11011 11111 III 111I - THIS FORM IS NOT TO BE DUPLICATED - 10/05/2016 RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: *20161223020* CITY CLERK CITY OF RANCHO PALOS VERDES 30940 Hawthorne Boulevard Rancho Palos Verdes, CA 90275-5391 AMENDMENT NO. 16 TO TRUMP NATIONAL DEVELOPMENT AGREEMENT (Pursuant to California Government Code Section 65868) THIS AMENDMENT NO. 16 TO TRUMP NATIONAL DEVELOPMENT AGREEMENT("Sixteenth Amendment") is entered into this 16th day of August 2016 by and between VH Property Corp., a Delaware corporation("Developer"),and the City of Rancho Palos Verdes,a municipal corporation organized under the laws of the State of California(the"City"). RECITALS A. Palos Verdes Land Holdings Company,L.P.,a California limited partnership,and the Zuckerman Entities(as defined in the Agreement),as predecessors in interest to Developer,and City entered into that certain Development Agreement(the"Original Agreement")dated as of November 20, 1997, and recorded on December 8, 1997,as Instrument No. 97-1929840 in the Official Records of Los Angeles County,California,as amended by that certain Amendment to Ocean Trails Development Agreement(the"First Amendment"), dated as of September 18,2001,and recorded on December 3,2001 as Instrument No. 01-2301342 in the Official Records of Los Angeles County,California; and as further amended by that certain Amendment No. 2 to Ocean Trails Development Agreement(the"Second Amendment"),dated as of March 4,2003,and recorded as Instrument No. 03-1139102 in the Official Records of Los Angeles County,California; and as further amended by that certain Amendment No. 3 to the Ocean Trails Development Agreement(the"Third Amendment"),approved on November 20,2007; and as further amended by that certain Amendment No.4 to the Ocean Trails Development Agreement(the"Fourth Amendment"),approved on March 4,2008;and as further amended by that certain Amendment No. 5 to the Ocean Trails Development Agreement(the"Fifth Amendment"), approved on July 15,2008; and as further amended by that certain Amendment No. 6 to the Ocean Trails Development Agreement(the "Sixth"Amendment), approved on October 21,2008; and as further amended by that certain Amendment No. 7 to the Ocean Trails Development Agreement(the"Seventh" Amendment),approved on January 21,2009; and as further amended by that certain Amendment No. 8 to the Ocean Trails Development Agreement(the "Eighth" Amendment), approved on September 15,2009; and as further amended by that certain Amendment No. 9 to the Ocean Trails Development Agreement(the"Ninth" Amendment), approved on March 16,2010;and as further amended by that certain Amendment No. 10 to the Ocean Trails Development Agreement(the"Tenth" Amendment), approved on September 21,2010; and as further amended by that certain Amendment No. 11 to the Ocean Trails Development Agreement(the"Eleventh" Amendment),approved on March 15,2011; and as further amended by that certain Amendment No. 12 to the Ocean Trails Development Agreement(the"Twelfth" Amendment), approved on September 20,2011; and as further amended by that certain Amendment No. 13 to the Ocean Trails Development Agreement(the"Thirteenth" Amendment), approved on March 6,2012; and as further amended by that certain Amendment No. 14 to the Ocean Trails Development Agreement(the"Fourteenth" Amendment),approved on August 7, 2012; and as further amended by that certain Amendment No. 15 to the Ocean Trails Development Agreement(the"Fifteenth" Amendment),approved on September 16,2014; (referred to collectively with the Original Agreement, as the"Agreement"),pursuant to which Developer has certain vested rights to develop that certain real property described and/or depicted on Exhibit A attached hereto(the"Property"). Except as expressly stated to the contrary, all capitalized terms set forth herein shall have the same meaning as set forth in the Agreement. B. City previously approved Vesting Tentative Tract Map No. 50666 and Vesting Tentative Tract Map No. 50667 regarding the Property and subsequently approved certain amendments thereto. C. Final Tract Map No. 50667 was previously recorded as Instrument No. 99-1934089 in the Office of the County Recorder of Los Angeles County,California,on October 12, 1999. D. Both parties wish to extend the Development Agreement to September 21,2018. E. On August 16, 2016,the City Council of City adopted Urgency Ordinance No. 587U,approving this Sixteenth Amendment. Developer and City desire to amend the Agreement to reflect the foregoing. AGREEMENT NOW, THEREFORE, in consideration of the foregoing recitals,and the mutual promises and agreements contained herein,and for other good and valuable consideration,the receipt and sufficiency of which is hereby acknowledged, it is agreed as follows: 1. Section 7 of the Agreement,entitled Term, is hereby amended by replacing the paragraph with the following new paragraph,to read as follows: "7. Term. The term of this Agreement shall commence upon the Effective Date and shall continue until all building permits required to complete the development of the Project as contemplated by the Development Plan have been issued,provided that in no event shall such term exceed nineteen(19)years following the Effective Date of this Agreement." 2. Section 7 of the Agreement,entitled Term, is hereby amended by replacing paragraph 7.2 at the end of that Section 7 with the following new paragraph 7.2,to read as follows: "7.2 Extension of Development Agreement. This Development Agreement is hereby extended from September 21,2016 through September 21,2018. The term of Vesting Tentative Tract Map No. 50666 is hereby extended along with the term of this Development Agreement." 3. Full Force. Except as specifically set forth herein,the Agreement shall remain in full force and effect. RECEIVED 4. Counterparts. This Sixteenth Amendment may be executed in one or i &r 0 4 2016 counterparts,each of which shall be deemed an original,but all of which shall constitute one and the same instrument. A facsimile signature shall be deemed an original signature. COMMUNITY DEVELOPM DEPARTMENT 5. Authority. The persons executing this Sixteenth Amendment on behalf of Developer and City represent and warrant that they are duly authorized so as to fully and legally bind Developer and City,respectively. IN WITNESS WHEREOF,this Sixteenth Amendment is executed as of the date first written above. "DEVELOPER": VH PROPERTY CORP., a Dela : e co • ratio• 4 By: . At., „ A A4 A AtAi Nam-. ••►JI a 1 -' Title: 1 • .qc. By: fJ . Name: 'Ilop Title: THE"CITY": CITY OF RANCHO PALOS VE' D ES • i Mayo/ ATTEST: City_.‘L/v"Acatcgok.._. 4k-c-10, clerk 01203.0005/307604.1 STATE OF NEW YORK ) ss.: COUNTY OF NEW YORK ) On the 23rd day of September in the year 2016, before me, the undersigned, personally appeared Donald J. Trump, personally known to me or proved to me on the basis of satisfactory evidence to be the individual) whose nameN-) is (aye) subscribed to the within instrument and acknowledged to me that heigheithey executed the same in his it capacity( ), and that by his/lac /fir signature4 on the instrument, the individualW, or the person upon behalf of which the individual]acted, executed the instrument. i I IdI/IA �� N•�ary Ps ''q r 7�, ''ti..'y tr•z.�i:��j 'r�'CLLC 4/gg((�* CilonlImAtslY11:441. Y apt F�:� r ZO Lsfr t� STATE OF NEW YORK ) ss.: COUNTY OF NEW YORK ) On the 23r1 day of September in the year 2016, before me, the undersigned, personally appeared Rhona Graff-Riccio,personally known to me or proved to me on the basis of satisfactory evidence to be the individual-whose name(*) is ( ) subscribed to the within instrument and acknowledged to me that. e/she/t executed the same in l /her/tl it capacity(, and that by 14/her/their signature( -on the instrument, the individual(; or the person upon behalf of which the individual(-acted, executed the instrument. N. ary Public STEN-E A.EE IG NOTARY PFJE_UC,St ht ofG'W York o<<C •4.65i71 QuaBfd in New County Cornmi2bn Expires Sepi4A1 S.2017 /►f 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 Lv s Pwlejf.,Les On Oct b - 4 ;.01 Le before me, 'des a 'nrn't✓P.,�.--fak,�t.ok�,, ,r,�, Date 1 Here Insert Name and Title of the O icer personally appeared .en Djcla, NameJ)'of Signer who proved to me on the basis of satisfactory evidence to be the person*.whose name,,(.$)' is/are- subscribed s/aresubscribed to the within instrument and acknowledged to me that he/stietthey-executed the same in his/latifitheirMthorized capacity(bes);and that by his/WItlr.i signature(s)-on the instrument the person(s)— or the entity upon behalf of which the person(a)'acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph TERESA PRIMAVERA-TAKAOKA is true and correct. ;` 0`` Commission#2113492 1 Notary Public-California i WITNESS my hand and official seal. �� r►/ Los Angeles County -• Comm.E ires Jun 26,2019 Signature C't �. Rtria4)-1/1a----Cleilt,-(64— 9 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): ❑ Corporate Officer — Title(s): ❑ Partner — ❑ Limited ❑ General ❑ Partner — ❑ Limited ❑General ❑ Individual ❑Attorney in Fact ❑ Individual ❑Attorney in Fact ❑Trustee ❑Guardian or Conservator ❑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 CITY OF RANCHO PALOS VERDES STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) SS AFFIDAVIT OF POSTING CITY OF RANCHO PALOS VERDES) The undersigned, being first duly sworn, deposes and says: That at all times herein mentioned, she was and now is the appointed City Clerk of the City of Rancho Palos Verdes; That on August 18, 2016, she caused to be posted the following document entitled: ORDINANCE NO. 587U, AN URGENCY ORDINANCE OF THE CITY OF RANCHO PALOS VERDES APPROVING AMENDMENT N0. 16 TO THE TRUMP NATIONAL DEVELOPMENT AGREEMENT, AUTHORIZING AN EXTENSION TO THE DEVELOPMENT AGREEMENT TO SEPTEMBER 21, 2018, AND DECLARING THE URGENCY THEREOF, a copy of which is attached hereto, in the following locations: City Hall Ladera Linda Community Center 30940 Hawthorne Blvd. 32201 Forrestal Drive Rancho Palos Verdes Rancho Palos Verdes Hesse Park 29301 Hawthorne Blvd. Rancho Palos Verdes I certify under penalty of perjury that the foregoing is a true and correct affidavit of posting. City Clerk