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EXHIBIT "A"
PARCEL NO. 1 :
That portion of Lot 1, Black "D" , WATRDUS FIRST ADDITION TO
REDLANDS, in the City of Redlands, County of San Bernardino,
State of California, as per plat recorded in Book 5 of Maps,
page 34 , records of said County, described as follows :
BEGINNING a, -the Northwescerl.y corner of said Lot 1; thence
Northeasterly along the North line of said Lot , 80 Feet;
thence at right angles Southeasterly 105 feet to the
Northeast corner of land conveyed to Joseph C. Layman, et
ux, by deed recorded in Book 497 , page 153, of Deeds; thence
Southwesterly along the Northerly line of said land conveyed
to Joseph C. Layman, et ux, to the West line of said Lot 1:
thence North along the West line of Lot 1, 105 feet to the
point of beginning.
r
PARCEL NO. 2
The Northeasterly 20 feet of Lot 1 and the Southwesterly 20
feet of Lot 2 , Block "D" , WATROUS FIRST ADDITION, in the
City of Redlands, County of San Bernardino, State of
California, as per plat recorded in Book 5 of Maps, page 34 ,
records of said County.
PARCEL NO. 3 :
Portion of Lot 1, Block "D" , WATROUS FIRST ADDITION TO
REDLANDS, in the City of Redlands, County of San Bernardino,
;itste oT' %: L— or xya, acc:orc ung to :It' ai�nexaeo recorded in
Book 5 cif Maps, page 34 , records of said County, described
as follows :
BEGINNING at a point where the boundary line between Lots 1
and 3, Block "D" , intersects the Easterly line of Myrtle
Street ; thence along said Myrtle Street in a Northwesterly
direction 55 feet; thence in a Northeasterly direction
parallel with the Southeasterly line of said Lot 1, 80 feet;
thence Southeasterly parallel with the Easterly line of
Myrtle Street , 55 feet to the Southeasterly line of said Lot
1; thence Southwesterly along the Southeasterly line of said
Lot 3., 80 feet to the point of beginning, being the
Southeasterly 55 feet of the Southwesterly 80 feet of said
Lot 1 .
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71
• asD
DATE: 16 November 1992
MEMO TO: Ms. L,orrie Ro zer
City Clerk
FROM: N.R. McMenemy
SUBJECT: Agency Acquisition of 304 and 312 Clive Street and,
215 Myrtle Avenue from the Former `Redlands Federal
Savings and Loan Association' - now Redlands
Federal Bank - for Development of a :Parking Lot.
In October of 1987 the Redevelopment Agency agreed to acquire,
from the thea 'Redlands Federal Savings and Loan Association' ,
a parking lot at the intersection of Clive Street and Myrtle
Avenue. It was the Agencys intention to "develop" a parking
lot at that location. The Agency financed the acquisition,
and development of the parking lot through the former owner
and, for safe-keeping, I am transmitting herewith the original
of the Note indicating our account is paid in full. I have
made a copy for the Agency files in this office.
DIRECTOR
N CM/nm
C.C. J. Wheaton, Executive Director
C.C. M. Reynolds, City Treasurer
C. C. S. Chapman, Finance Director
Redlands Federal Bank
300 E. State Street P.O. Box 3260
Redlands, California 92373
Telephone (714) 793-2391
November 12, 1992
To: Redevelopment Agency of City of Redlands
P. O. Box 3005
Redlands, CA. 9233373
Re: Loan NO. 01 501284 08
Enclosed are the following documents for the above referenced loan which is paid in full.
O Certificate of Ownership (please refer to reverse side of pink slip for instructions)
Installment Note and Security Agreement
Purchase Order
Refund Check
(X) Note
Please acknowledge receipt of these documents by signing and returning the copy of this
letter in the postage paid envelope provided.
IF YOUR LOAN WAS SECURED BY A VEHICLE,YOUR INSURANCE AGENT SHOULD
BE NOTIFIED THAT REDLANDS FEDERAL BANK IS NO LONGER THE
LIENHOLDER ON THIS VEHICLE.
If your loan had credit insurance, any unearned premium which may be due you will be
refunded directly from the insurance company. If you do not receive the refund within 6
weeks, please contact the undersigned.
If we can be of service to you at any time in the future, please do not hesitate to let us
know.
Sincerely
Susan Ostdiek
Loan Service Assistant
Loan Service Department
REDLANDS FEDERAL SAVINGS AND LOAN ASSOCIATION
ADJUSTABLE INTEREST DUE DATE INSTALLMENT NOTE
L.35 �)0_ 0 _ ._ Redlands , California
Loan No. 1.30-01284_8 Date: October 21., 1987
NOTICE TO BORROWER : THIS DOCUMENT CONTAINS PROVISIONS FOR AN ADJUSTABLE
INTEREST RATE, INCREASES IN ECHE INTEREST RATE WILL RESULT IN HIGHER
PAYMENTS . DEGREASES IN THE INTEREST RATE WILL RESULT IN LOWER PAYMENTS
304 & 312 Olive St. and 213 Myrtle St. Redlands CA, 92.'373
Address
city State Zip Cade
1 , PROMISE TO PAY
In consideration for money received, I REDEVE1011MENT AGENCY OF I11E CITY
Q? 1D1a^�Il , r" 3CDY C( RI'C w TI SAND PC)LI`II" C1F TII1r" 1 C).; 1
prcm.ise to p< y to Redlands Eederald Savings anti Laan Assaciatiorx, a carpor-
ation ,
r-ation , or order , the sum of r WaO HUNDRED THIRTY FIVE THOUSAND AND NO 100— -
($ 23-1
__ _ � ( this a�xxaunt will be called "principal") , plus
interest b
The Lender has the right to assign or transfer this Nate. The Lender
or anyone: who takes this Nate by transfer and who is entitled to receive
payments under this Nate will be called the "Nate Holder" .
. INTEREST
Interest will be charged on that part of principal which has not been
paid. Interest will be charged beginning on the date of this Nate and
continue until, the full amount of principal has been paid.
Starting on the date of this Nate, I will pay interest at a yearly
rate of ) ( the ""Initial. Interest Rate") . The Interest, rate. that
I will pay will change in accordance with Section 4 of this Nate until my
loan is paid. Interest rate changes may occur on the first day of
JANUARY 1988. and on that day in the month every 3 months
th r of ter tl "interest. Adjustment Date.")
3. Payments
(A) Time and Place of Payments
Quarterly interest only payments shall be made on the first day of
each quarter beginning on � JANUARY !,_.1988 I will make my quarter=ly
payments at 300 E. State Street , Redlands , CSA. 92373 , or at a different
place if required by the Note Holder . I will make these payments until. I
have paid all of the principal and interest and any other charges , des-
cribed below, that may accrue under. this Note. Any sums remaining due
under this Note shall be paid on or before NOVA' 13ER l 1992
(the "Final Payment Date"'A
(h) Payment Adjustments
My quarterly payment of interest only is subject to change on each
interest adjustment date,
(C) Borrower ' s Payments :Before They Are Due
I have the right to make payments of principal at an4 time before
they are clue. A payment of principal only is known as a "prepayment'',
When I; make a prepayment , I will tell the Nate Halder in a letter that 1
am doing so. Imay make a full payment or a partial prepayment without
paying any penalty. The Note Holder will use all of my prepayment to
reduce the amount of principal. that I awe under this Nate, If I make
partial prepayment , there will be no delays in the due dates of my monthly
payments unless the Note Halder agrees in writing to those delays. My
partial prepayment will reduce the amount of my monthly payments after the .
first Interest Adjustment Date following my partial prepayment . However ,
any reduction due to may partial prepayment may be offset by an interest
rage increase.
4
(D) Principal. Reductions
Principal reductions in the amount of 1aOVIY SEVEN 11-10tSAND AND N0/100
t�CiL:l. 1 5 - - - - - ¢ - ( 47 000 00 are due and payable
annually beginning. NOVEMBER 1 1988
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