HomeMy WebLinkAboutMehr, Mohammad Naim and Madina; 2025-10-22;Recording Requested by:
Fidelity National Title
San Diego Office
DSnow(a),ccdsd.orgRecording requested by
and when recorded mail to:
City of Carlsbad
Housing Services Manager
1200 Carlsbad Village Drive
Carlsbad, CA 92008
No fee for recording pursuant to
Government Code Section 27383
DOC# 2025-0312747
111111111111 lllll 111111111111111111111111111111 IIIII IIIII IIIII IIII IIII
Nov 05, 2025 02:58 PM
OFFICIAL RECORDS
JORDAN Z. MARKS,
SAN DIEGO COUNTY RECORDER
FEES: $0.00 (SB2 Atkins: $0.00)
PCOR: N/A
PAGES: 13
DEED OF TRUST AND SECURITY AGREEMENT THIS DEED OF TRUST IS SECOND
AND SUBSEQUENT TO A DEED OF
TRUST RECORDING CONCURRENTLY
HEREWITH (City of Carlsbad Affordable Housing Resale Program)
Note to Borrower: This Deed of Trust contai11s provisio11s prohibiti11g assumptio11
THIS DEED OF TRUST AND SECURITY AGREEMENT (the "Deed of Trust11)
is made as of this 20th day of October , 2025, Mohammad Nairn Mehr and Madina Mehr,
husband and wife as community property with right of survivorship, ("Borrower11), as Trustor,
,and Fidelity National Title & Escrow ("Trustee"), as trustee, and the City of Carlsbad, a
municipal corporation (11City11), as beneficiary.
*Borrowers address is6172 Colt Place No 103, Carlsbad, CA 92009 .
The Borrower, in consideration of the promises herein recited and the trust herein
created, irrevocably grants, transfers, conveys and assigns to the Trustee, in trust, with power
of sale, the real property located in the City of Carlsbad, State of California, described in the
attached Exhibit A (the "Property");
TOGETHER with all the improvements now or hereafter erected on the real property
described in Exhibit A, and all easements, rights, appurtenances, and all fixtures now or hereafter
attached to the property, all of which, including replacements and additions thereto, shall be
deemed to be and remain a part of the property covered by this Deed of Trust (collectively, the
"Property"); and
TOGETHER with all articles of personal property or fixtures now or hereafter attached
to or used in and about the building or buildings now erected or hereafter to be erected on the
Property which are necessary to the complete and comfortable use and occupancy of such
building or buildings for the purposes for which they were or are to be erected, including all
other goods and chattels and personal property as are ever used or furnished in operating a
building, or the activities conducted therein, similar to the one herein described and referred to,
and all renewals or replacements thereof or articles in substitution therefore, whether or not the
same are, or shall be attached to said building or buildings in any manner; and all of the
foregoing, together with the Property, is herein referred to as the "Security";
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~ Ex~mpt from fee per GC27388.1 due to
being recorded in connection with
~oncu~~ent transfer that is subject to the
1mposItIon of documentary transfer tax.
To have and to hold the Security together with acquittances to the Trustee, its successors
and assigns forever;
TO SECURE to the City the repayment of the sums evidenced by a promissory note
in the amount Seven Hundred Sixty-Five Thousand Five Hundred Sixteen Dollars ($765,516)
executed by the Borrower in favor of the City as of the date of this Deed of Trust ("Note");
TO SECURE to the City the payment of all other sums, with interest thereon, advanced
in accordance herewith to protect the security of this Deed of Trust; and the performance of the
covenants and agreements of the Borrower herein contained;
TO SECURE to the City the performance of the covenants and agreements of Borrower
contained in that certain Declaration of Restrictive Covenants Regarding Restrictions on
Transfer of Property, Occupancy Restrictions, Refinancing Restrictions and Option to Purchase
executed by and between the Borrower and the City of even date herewith and recorded against
the Property on, or about, the date this Deed of Trust is recorded as a lien against the Property
(the "Resale Restriction Agreement") and to secure the payment of Excess Sales Proceeds (as
defined in the Resale Restriction Agreement) and Unauthorized Rental Proceeds (as defined in
the Resale Restriction Agreement) that may become due by Borrower to City; and
TO SECURE the performance of any obligations of Borrower in any other agreements
with respect to the financing of the Property or the Security the failure of which would adversely
affect Beneficiary, whether or not Beneficiary is a party to such agreements.
BORROWER AND CITY COVENANT AND AGREE AS FOLLOWS:
1. Borrower's Estate. That the Borrower is lawfully seized of the estate hereby
conveyed and has the right to grant and convey the Security, that other than this Deed of Trust,
the Security is encumbered only by: (a) that deed of trust executed by the Borrower in
connection with a loan made to the Borrower by CrossCountrW<tr<qts successors and assigns
(t?e "First Lender"), dated ~ovember 1 , 2_025, executed by the B£rrower in favo~ of
F1rst Lender, and recorded m the County of San Diego on concurren f-10:.:__, and assigned
Recorder's Serial No. ______ ("First Lender Deed of Trust"), securing a promissory
note executed by the Borrower in favor of the First Lender ("First Lender Note"), to assist in the
purchase of the Property; and (b) the Resale Restriction Agreement. The Borrower agrees to
warrant and defend generally the title to the Security against all claims and demands, subject to
any declarations, easements or restrictions listed in a schedule of exceptions to coverage in any
title insurance policy insuring the City's interest in the Security. (As used in this Deed of Trust,
the term "First Lender" shall include all successors and assigns of the First Lender.)
2. Repayment of Loan; Prohibition on Assumptions. The Borrower will promptly
repay, when due, the principal, interest and other sums required by the Note and Resale
Restriction Agreement, including all principal and interest on the Homebuyer Loan ( as defined in
the Note) and the Excess Sales Proceeds and Unauthorized Rental Proceeds due under the Resale
Restriction Agreement. Among other things, the Note contains the following provisions
concerning repayment of the loan under certain conditions:
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Limitations on Assumption of Note. The Borrower acknowledges that this Note
is given in connection with the purchase of the Property as part of a program of
the City to assist in the purchase of homes by very low and low income
households. Consequently, this Note is only assumable by Eligible Purchasers
(as defined in the Resale Restriction Agreement). This Note is due in full upon
all other Transfers. In the event this Note is assumed by an Eligible Purchaser,
the Eligible Purchaser shall execute a new note, which shall be in an amount
equal to the principal and Contingent Interest owed by Borrower, a new deed of
trust and a new resale restriction agreement with a restarted te1m in forms
approved by the City.
3. First Lender Loan. The Borrower will observe and perform all of the covenants
and agreements of the First Lender Note, First Lender Deed of Trust, and related First Lender
loan documents.
4. Resale Restriction Agreement. The Borrower will observe and perform all of the
covenants and agreements of the Resale Restriction Agreement. Among other things, the Resale
Restriction Agreement requires the Borrower to utilize the Property as the Borrower's principal
residence, and restricts: (i) the Borrower's ability to transfer the Property, or the obligations
under the Note; (ii) the Borrower's ability to refinance the First Lender Note; and (iii) the
Borrower's ability to use the Property as security for additional loans or financing. The
Borrower's failure to comply with the requirements of the Resale Restriction Agreement
constitutes a default under this Deed of Trust.
5. Charges; Liens. The Borrower will pay all taxes, assessments and other charges,
fines and impositions attributable to the Security which may attain a priority over this Deed of
Trust, by the Borrower making any payment, when due, directly to the payee thereof. The
Borrower will promptly furnish to the City all notices of amounts due under this paragraph, and
in the event the Borrower makes payment directly, the Borrower will promptly discharge any
lien which has priority over this Deed of Trust; provided, that the B01TOwer will not be required
to discharge the lien of the First Lender Deed of Trust or any other lien described in this
paragraph so long as the Borrower will agree in writing to the payment of the obligation secured
by such lien in a manner acceptable to the City, or will, in good faith, contest such lien by, or
defend enforcement of such lien in, legal proceedings which operate to prevent the enforcement
of the lien or forfeiture of the Security or any part thereof.
6. Insurance. The Borrower will keep the Security insured with a standard fire and
extended coverage insurance policy in at least an amount equal to the replacement cost of the
Security, but in no event less than the amount necessary to prevent the Borrower from becoming
a co-insurer under the terms of the policy.
The insurance carrier providing this insurance shall be licensed to do business in the State
of California and be chosen by the Borrower subject to approval by the City; provided, that such
approval will not be withheld if the insurer is also approved by the First Lender, the Federal
Home Loan Mortgage Corporation, Fannie Mae, Freddie Mac, the United States Department of
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Housing and Urban Development, the United States Department of Veterans Affairs, or any
successor thereto.
All insurance policies and renewals thereof will be in a form acceptable to the City and
will include a standard mortgagee clause with standard lender's endorsement in favor of the
holder of the First Lender Note and the City as their interests may appear and in a form
acceptable to the City. The City shall have the right to hold, or cause its designated agent to
hold, the policies and renewals thereof, and the Borrower shall promptly furnish to the City, or
its designated agent, the original insurance policies or certificates of insurance, all renewal
notices and all receipts of paid premiums. In the event of loss, the Borrower will give prompt
notice to the insurance carrier and the City or its designated agent. The City, or its designated
agent, may make proof of loss if not made promptly by the Borrower. The City shall receive ten
(10) days advance notice of cancellation of any insurance policies required under this section.
Unless the City and the Borrower otheiwise agree in writing, insurance proceeds, subject
to the rights of the First Lender, will be applied to restoration or repair of the Security damaged,
provided such restoration or repair is economically feasible and the Security of this Deed of
Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the
security of this Deed of Trust would be impaired, the insurance proceeds will be used, subject to
the rights of the First Lender, to repay the Note and all sums secured by this Deed of Trust, with
the excess, if any, paid to the Borrower. If the Security is abandoned by the Borrower, or if the
Borrower fails to respond to the City, or its designated agent, within thirty (30) days from the
date notice is mailed by either of them to the Borrower that the insurance carrier offers to settle a
claim for insurance benefits, the City, or its designated agent, is authorized, subject to the rights
of the First Lender, to collect and apply the insurance proceeds at the City's option either to
restoration or repair of the Security or to repay the Note and all sums secured by this Deed of
Trust.
If the Security is acquired by the City, all right, title and interest of the Borrower in and to
any insurance policy and in and to the proceeds thereof resulting from damage to the Security
prior to the sale or acquisition will pass to the City to the extent of the sums secured by this Deed
of Trust immediately prior to such sale or acquisition subject to the rights of the First Lender.
7. Preservation and Maintenance of Security. The Borrower will keep the Security
in good repair and will not commit waste or permit impairment or deterioration of the Security.
If there arises a condition in contravention of this section, and if the Borrower has not cured such
condition within thirty (30) days after receiving a City notice of such a condition, then in
addition to any other rights available to the City, the City shall have the right (but not the
obligation) to perform all acts necessary to cure such condition, and to establish or enforce a lien
or other encumbrance against the Security to recover its cost of curing.
8. Protection of the City's Security. If the Borrower fails to perform the covenants
and agreements contained in this Deed of Trust, the Resale Restriction Agreement, the First
Lender Note, the First Lender Deed of Trust, or if any action or proceeding is commenced which
materially affects the City's interest in the Security, including, but not limited to, default under
the First Lender Deed of Trust, the First Lender Note, eminent domain, insolvency, code
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enforcement, or arrangements or proceedings involving a bankrupt or decedent, then the City, at
the City's option, upon notice to the Borrower, may make such appearances, disburse such sums
and take such action as it determines necessary to protect the City's interest, including but not
limited to, disbursement of reasonable attorney's fees and entry upon the Security to make
repairs.
Any amounts disbursed by the City pursuant to this paragraph, with interest thereon, will
become an indebtedness of the Borrower secured by this Deed of Trust. Unless the Borrower
and City agree in writing to other terms of payment, such amount will be payable upon notice
from the City to the Borrower requesting payment thereof, and will bear interest from the date of
disbursement at the lesser of ten percent (10%) or the highest rate permissible under applicable
law. Nothing contained in this paragraph will require the City to incur any expense or take any
action hereunder.
9. Inspection. The City may make or cause to be made reasonable entries upon and
inspections of the Security; provided that the City will give the Borrower reasonable notice of
inspection.
10. Forbearance by the City Not a Waiver. Any forbearance by the City in exercising
any right or remedy will not be a waiver of the exercise of any such right or remedy, nor shall
acceptance by the City of any payment provided for in the Note constitute a waiver of the City's
right to require prompt payment of any remaining principal and interest owed. The procurement
of insurance or the payment of taxes or other liens or charges by the City will not be a waiver of
the City's right to accelerate the maturity of the indebtedness secured by this Deed of Trust.
11. Hazardous Substances. Borrower shall not cause or permit the presence, use,
disposal, storage, or release of any Hazardous Substances on or in the Property. Borrower shall
not do, nor allow anyone else to do, anything affecting the Property that is in violation of any
Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage
on the Property of small quantities of Hazardous Substances that are generally recognized to be
appropriate to normal residential uses and to maintenance of the Property.
"Hazardous Substances" shall mean those substances defined as toxic or hazardous
substances or hazardous waste under any Environmental Law, and the following substances:
gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides,
volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials.
"Environmental Law" shall mean all federal and state of California laws that relate to
health, safety or environmental protection.
Borrower shall promptly give City written notice of any investigation, claim, demand,
lawsuit or other action by any governmental or regulatory agency or private party involving the
Property and any Hazardous Substance or Environmental Law of which Borrower has actual
knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that
any removal or other remediation of any Hazardous Substance affecting the Property is
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necessary, Borrower shall promptly take all necessary remedial actions in accordance with
Environmental Law.
12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct
and cumulative to any other right or remedy under this Deed of Trust or any other document, or
afforded by law or equity, and may be exercised concurrently, independently or successively.
13. Successors and Assigns Bound. The covenants and agreements herein contained
shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the
City and the Borrower subject to the provisions of this Deed of Trust.
14. Joint and Several Liability. All covenants and agreements of the Borrower shall
be joint and several.
15. Notice. Except for any notice required under applicable law to be given in
another manner, all notices required in this Deed of Trust shall be sent by certified mail, return
receipt requested or express delivery service with a delivery receipt, or personally delivered with
a delivery receipt obtained, and shall be deemed to be effective as of the date shown on the
delivery receipt as the date of delivery, the date delivery was refused, or the date the notice was
returned as undeliverable as follows:
To the Owner:
6172 Colt Place No. 103
Carlsbad, CA 92009
To the City:
City of Carlsbad
Housing Services Manager
1200 Carlsbad Village Drive
Carlsbad, CA 92008
Attn: Affordable Housing Resale Program
The parties may subsequently change addresses by providing written notice of the change
in address to the other parties in accordance with this section.
16. Controlling Law. This Deed of Trust shall be construed in accordance with and
be governed by the laws of the State of California.
17. Invalid Provisions. If any one or more of the provisions contained in this Deed of
Trust, Resale Restriction Agreement or the Note shall for any reason be held to be invalid, illegal
or unenforceable in any respect, then such provision or provisions shall be deemed severable
from the remaining provisions, and this Deed of Trust, the Resale Restriction Agreement and the
Note shall be construed as if such invalid, illegal or unenforceable provision had never been
contained in this Deed of Trust, Resale Restriction Agreement or the Note.
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18. Captions. The captions and headings in this Deed of Trust are for convenience
only and are not to be used to interpret or define the provisions hereof.
19. Nonliability for Negligence, Loss, or Damage. Borrower acknowledges,
understands and agrees that the relationship between Borrower and the City is solely that of a
borrower and the administrator of a municipal inclusionary housing program, and that the City
does not undertake or assume any responsibility for or duty to Borrower to select, review,
inspect, supervise, pass judgment on, or inform Borrower of the quality, adequacy or suitability
of the Security or any other matter. The City owes no duty of care to protect Borrower against
negligent, faulty, inadequate or defective building or construction or any condition of the
Security and Borrower agrees that neither Borrower, or Borrower's heirs, successors or assigns
shall ever claim, have or assert any right or action against the City for any loss, damage or other
matter arising out of or resulting from any condition of the Security and will hold City harmless
from any liability, loss or damage for these things.
20. Indemnity. Borrower agrees to defend, indemnify, and hold the City harmless
from all losses, damages, liabilities, claims, actions, judgments, costs, expenses and reasonable
attorneys' fees that the City may incur as a direct or indirect consequence of:
a. Borrower's failure to perform any obligations as and when required by the
Note, Resale Restriction Agreement, and this Deed of Trust; or
b. the failure at any time of any of Borrower's representations or warranties
to be true and coffect.
This provision shall survive the term of this Agreement.
21. Default; Remedies. Upon the Borrower's breach of any covenant or agreement of
the Borrower in the Note, Resale Restriction Agreement or this Deed of Trust, including, but not
limited to, the covenants to pay, when due, any sums secured by this Deed of Trust, the City,
prior to acceleration, will send, in the manner set forth in Section 15 of this Deed of Trust, notice
to the Boffower specifying: (1) the breach; (2) if the breach is curable, the action required to
cure such breach; (3) a date, not less than thirty (30) days from the date the notice is effective as
set forth in Section 15 of this Deed of Trust, by which such breach, if curable, is to be cured; and
(4) if the breach is curable, that failure to cure such breach on or before the date specified in the
notice may result in acceleration of the sums secured by this Deed of Trust and sale of the
Security. Notice shall be effective as of the date shown on the delivery receipt as the date of
delivery, the date delivery was refused or the date the notice was returned as undeliverable. The
notice will also inform the Borrower of the Borrower's right to reinstate after acceleration and the
right to bring a court action to assert the nonexistence of default or any other defense of the
Borrower to acceleration and sale.
If the breach is not curable or is not cured on or before the date specified in the notice, the
City, at the City's option, may: (a) declare all of the sums secured by this Deed of Trust to be
immediately due and payable without further demand and may invoke the power of sale and any
other remedies permitted by California law; (b) either in person or by agent, with or without
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bringing any action or proceeding, or by a receiver appointed by a court, and without regard to
the adequacy of its security, enter upon the Security and take possession thereof ( or any part
thereof) and of any of the Security, in its own name or in the name of the Trustee, and do any
acts which it deems necessary or desirable to preserve the value or marketability of the Security,
or part thereof or interest therein, increase the income therefrom or protect the security thereof.
The entering upon and taking possession of the Security shall not cure or waive any breach
hereunder or invalidate any act done in response to such breach and, notwithstanding the
continuance in possession of the Security, the City shall be entitled to exercise every right
provided for in this Deed of Trust, or by law upon occurrence of any uncured breach, including
the light to exercise the power of sale; ( c) commence an action to foreclose this Deed of Trust as
a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof; (d) deliver to
the Trustee a wiitten declaration of default and demand for sale, pursuant to the provisions for
notice of sale found at California Civil Code Sections 2924, et seq., as amended from time to
time; or ( e) exercise all other rights and remedies provided herein, in the instruments by which
the Borrower acquires title to any Secuiity, or in any other document or agreement now or
hereafter evidencing, creating or secuiing all or any portion of the obligations secured hereby, or
provided by law.
The City shall be entitled to collect all reasonable costs and expenses incurred in pursuing
the remedies provided in this paragraph, including, but not limited to, reasonable attorney's fees.
22. Acceleration. Upon the occurrence of a default under the Note, the Resale
Restriction Agreement, this Deed of Trust, the First Lender Note, or the First Lender Deed of
Trust, the City shall have the right to declare the full amount of the principal along with any
interest under the Note immediately due and payable. Any failure by the City to pursue its legal
and equitable remedies upon default shall not constitute a waiver of the City's right to declare a
default and exercise all of its rights under the Note, the Resale Restriction Agreement, and this
Deed of Trust. Nor shall acceptance by the City of any payment provided for in the Note
constitute a waiver of the City's right to require prompt payment of any remaining piincipal and
interest owed.
23. Borrower's Right to Reinstate. Notwithstanding the City's acceleration of the
sums secured by this Deed of Trust, the Borrower will have the right to have any proceedings
begun by the City to enforce this Deed of Trust discontinued at any time prior to five (5) days
before sale of the Secuiity pursuant to the power of sale contained in this Deed of Trust or at any
time prior to entry of a judgment enforcing this Deed of Trust if: (a) the Borrower pays City all
sums, if any, which would be then due under this Deed of Trust and no acceleration under the
Note has occurred; (b) the Borrower cures all breaches of any other covenants or agreements of
the Borrower contained in the Note, Resale Restriction Agreement or this Deed of Trust; ( c) the
Borrower pays all reasonable expenses incurred by City and the Trustee in enforcing the
covenants and agreements of the Borrower contained in the Note, Resale Restriction Agreement
or this Deed of Trust, and in enforcing the City's and the Trustee's remedies, including, but not
limited to, reasonable attorney's fees; and ( d) the Borrower takes such action as City may
reasonably require to assure that the lien of this Deed of Trust, City's interest in the Secuiity and
the Borrower's obligation to pay the sums secured by this Deed of Trust shall continue
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unimpaired. Upon such payment and cure by the Borrower, this Deed of Trust and the
obligations secured hereby will remain in full force and effect as if no acceleration had occurred.
24. Reconveyance. Upon payment of all sums secured by this Deed of Trust, the City
will request the Trustee to reconvey the Security and will surrender this Deed of Trust and the
Note to the Trustee. The Trustee will reconvey the Security without warranty and without
charge to the person or persons legally entitled thereto. Such person or persons will pay all costs
of recordation, if any.
25. Substitute Trustee. The City, at the City's option, may from time to time remove
the Trustee and appoint a successor trustee to any trustee appointed hereunder. The successor
trustee will succeed to all the title, power and duties conferred upon the Trustee herein and by
applicable law.
26. Subordination to First Lender Mortgage. Notwithstanding any other provision
hereof, the provisions of this Deed of Trust shall be subordinate to the lien of the First Lender
Deed of Trust and shall not impair the rights of the First Lender, or the First Lender's successor
or assign, to exercise its remedies under the First Lender Deed of Trust in the event of default
under the First Lender Deed of Trust by the Borrower. Such remedies under the First Lender
Deed of Trust include the right of foreclosure or acceptance of a deed or assignment in lieu of
foreclosure. After such foreclosure or acceptance of a deed or assignment in lieu of foreclosure,
or upon assignment of the First Lender Deed of Trust to the Secretary of the United States
Department of Housing and Urban Development (the "Secretary"), this Deed of Trust shall be
forever terminated and shall have no further effect as to the Property or any transferee thereafter;
provided, however, if the holder of such First Lender Deed of Trust acquired title to the Property
pursuant to a deed or assignment in lieu of foreclosure, or if the First Lender's Deed of Trust is
assigned to the Secretary, this Deed of Trust shall automatically terminate upon such acquisition
of title or assignment to the Secretary provided that: (i) the City has been given written notice of
default under such First Lender Deed of Trust; and (ii) the City shall not have cured or
commenced to cure the default within such thirty (30) day period and given its firm commitment
to complete the cure in the form and substance acceptable to the First Lender. Borrower agrees
to record any necessary documents to effect such termination, if applicable.
Remainder of Page Left Intentionally Blank
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IN WITNESS WHEREOF, the Borrower has executed this Deed of Trust as of the date
first written above.
Note to Borrower: This Deed of Trust contains provisions prohibiting assumption
Signature
/Jo /i01;,-v1 r> Ct~J flld/ 1~ !1e/2 ~
Print Name
iD/4;;_/-zo2-s
Date
BORROWER:
Signature
PrintName
la-::iz-'2o2-S
Date
(Proper Notarial Ack1iowledgement of Execution by Borrower Must Be Attached)
SEE ATTACHED CERTIFICATE
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CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
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 San Diego }
On OG--tf).be, :;,_:;;._, :;)_O~ , before me, C. Peterson, Notary Public,
personally appeared ff)ol,qrrt>11.{ d /Ja(m rrJenr N'rCI rr)qcft hq &hr
who proved to me on the basis of satisfactory evidence to be the person(s) whose name{s) isfare
subscribed to the within instrument and acknowledged to me thamey executed the same
in liis,lher/their authorized ca acity(ies), and that by ~r/their ~gnature(s) on the instrument
the person(s), or the entity upon beha of which the p_ersonu,) acted, executed the instrument.
I certify under PENAL TY OF PERJURY under the laws of State of California that the foregoing
paragraph is true and correct.
eeeeeee•1 C. PETERSON
Notary Public -California :
San Diego County ~
Commission II 2410814 v Comm. Expiras Aug 8, 2026
PLACE NOT ARY SEAL ABOVE
WITNESS my hand and official seal.
SIGNATURE~
Though the information below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of attached document
Title or type of document: ])eed ef =t=ust= Dine/ Secu.rify ~~
Document Date: QGkhe,c::2.o • .:::W 25 Number of Pages: ______ _
Signer(s) Other than Named Above: ____________________ _
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
Address: 6172 Colt Place #103, Carlsbad, CA 92009
Assessor Parcel No.: 213-262-22-18
[010\17\2045536.2
For APN/Parcel ID(s): 213-262-22-18
EXHIBIT A
Legal Description
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
A CONDOMINIUM COMPRISED OF:
PARCEL 1:
AN UNDIVIDED FEE SIMPLE INTEREST AS A TENANT IN COMMON IN AND TO THE COMMON AREA IN THE
MODULE IN WHICH THE RESIDENTIAL UNIT DESCRIBED IN PARCEL 2 BELOW IS LOCATED EQUAL TO THE
RECIPROCAL OF THE NUMBER OF RESIDENTIAL UNITS LOCATED WITHIN SUCH MODULE, AS SHOWN ON THE
AMENDED AND RESTATED CONDOMINIUM PLAN FOR KENSINGTON AT THE SQUARE, RECORDED IN THE
OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, CALIFORNIA, ON JUNE 13, 2019, AS DOCUMENT
NO. 2019-230474, AND ANY AMENDMENTS OR SUPPLEMENTS THERETO (COLLECTIVELY "CONDOMINIUM
PLAN"), LOCATED IN A PORTION OF LOT 1 OF CARLSBAD TRACT NO. 14-09 UPTOWN BRESSI RANCH, IN THE
CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO.
16253, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 9, 2018 ("MAP").
PARCEL 2:
RESIDENTIAL UNIT NO. 18, AS SHOWN AND DESCRIBED ON THE CONDOMINIUM PLAN;
EXCEPTING FROM PARCELS 1 AND 2, ALL EASEMENTS RESERVED IN THE DECLARATION, CORPORATE
DECLARATION, AND EASEMENT, MAINTENANCE, AND COST SHARING DECLARATION (ALL DEFINED BELOW),
THE CONDOMINIUM PLAN, THE MAP, AND ALL OTHER EASEMENTS OF RECORD AS OF THE DATE HEREOF.
PARCEL 3:
AN EXCLUSIVE EASEMENT TO USE EACH PORTION OF THE ASSOCIATION PROPERTY, IF ANY, DESIGNATED IN
THE CONDOMINIUM PLAN AS BEING AN EXCLUSIVE USE EASEMENT AREA APPURTENANT TO THE
RESIDENTIAL UNIT DESCRIBED IN PARCEL 2 ABOVE FOR THE PURPOSES DESCRIBED IN THE DECLARATION.
PARCEL 4:
A NON-EXCLUSIVE TEMPORARY EASEMENT FOR PEDESTRIAN AND VEHICULAR ACCESS, INGRESS AND
EGRESS BY GRANTEE OVER, UPON AND ACROSS THE PRIVATE STREETS MORE PARTICULARLY DESCRIBED
AS STREET MODULE A, STREET MODULE B, STREET MODULE C, AND STREET MODULE 0, AS SHOWN ON THE
CONDOMINIUM PLAN, AND DESCRIBED IN THAT CERTAIN ACCESS EASEMENT GRANT DEED RECORDED IN
THE OFFICIAL RECORDS OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON SEPTEMBER 4, 2019 AS
DOCUMENT NO. 2019-380430, WHICH EASEMENT IS APPURTENANT TO THE RESIDENTIAL UNIT DESCRIBED IN
PARCEL 2 ABOVE.
PARCELS:
A NON-EXCLUSIVE EASEMENT, IN COMMON WITH OTHER OWNERS, FOR ACCESS, INGRESS AND EGRESS, IN,
TO, OVER, UNDER AND ACROSS CERTAIN PORTIONS OF THE ASSOCIATION PROPERTY DESCRIBED IN THE
DECLARATION, SUBJECT TO THE LIMITATIONS SET FORTH THEREIN, WHICH EASEMENT IS APPURTENANT TO
THE RESIDENTIAL UNIT DESCRIBED ABOVE AND A PUBLIC STREET.
$765,516
PROMISSORY NOTE
Secured by Deed of Trust
Carls bad, California
October 20, 2025
Notice to Bormwer: This Note is not assumable
FOR VALUE RECEIVED, the undersigned Mohammad Nairn Mehr and Madina Mehr,
C'Bonower"), promises to pay to the City of Carlsbad, a municipal corporation (11City11), at the
Housing and Homeless Services Department, 1200 Carlsbad Village Drive, Carlsbad, California
92008, or such other place as the City may designate in writing, the principal sum of Seven
Hundred Sixty-Five Thousand Five Hundred Sixteen Dollars ($765,516) plus Contingent Interest
calculated pursuant to Section 4 below, plus any amounts due the City as Unauthorized Rental
Proceeds or Excess Sales Proceeds pursuant to the Declaration of Restrictive Covenants
Regarding Restrictions on Transfer of Property, Occupancy Restrictions, Refinancing Restrictions
and Option to Purchase ("Resale Restriction Agreement ") by and between Bonower and City of
even date herewith.
1. Purpose of Loan. Bmrnwer is purchasing the real property more particularly
described in Exhibit A to the Deed of Trust and the improvements thereon located at 6172 Colt
Place No. 103, Carlsbad, CA 92009 in the City of Carlsbad C'Property"). In connection with the
Affordable Housing Resale Program and in fulfillmen_t of its inclusionaiy obligation pursuant to
an Affordable Housing Agreement ("Affordable Housing Agreement") between the Shea Homes
Limited Partnership, a California limited liability company entered into November 11, 2017.
Developer made a subsidy loan ("Homebuyer Loan") to allow for the purchase of a home by a
low-income household located in Carlsbad, California on that certain real property and more
particularly described in Exhibit A (°Property") and then assigned the Homebuyer Loan to the
City. The Homebuyer Loan is in an amount equal to the difference between the fair market value
of the Property and the price affordable to Bonower, who is a lower income household.
Because the home is being made affordable to Bonow er as part of the City's affordable
housing program, B01rnwer is required and has agreed to execute the Resale Restriction
Agreement. Among other things, the Resale Restriction Agreement restricts the price of the
Property upon resale and requires the Borrower to pay any Excess Sales Proceeds ( as defined
below) at resale to the City. This Note evidences both: (a) the obligation of Borrower to repay
the Homebuyer Loan; and (b) the obligation of B01rnwer to pay any Unauthorized Rental
Proceeds (as defined below) and Excess Sales Proceeds to the City pursuant to the Resale
Restriction Agreement.
2. Definitions. The terms set fmth in this section shall have the following meanings
in this Note.
l0l0/17/2045538.2
(a) "Appreciation Amount" shall mean the amount calculated by subtracting
the Original Affordable Purchase Price of the Property from one of the following amounts, as
applicable: (i) in the event of a sale of the Property to the City or City designee pursuant to the
City Option, the Affordable Sales Price; or (ii) in the event of a sale of the Property to an Eligible
Purchaser (as defined in the Resale Restriction Agreement) during the Initial Period (as defined
in the Resale Restriction Agreement), the Affordable Sales Price; or (iii) in the event of any other
sale, the amount received by the Bo1rnwer as the sale price of the Property, as ce11ified by the
Bon-ower; or (iv) in the event of a prepayment of this Note, a Transfer other than sale of the
Prope11y, or in the event of a default, the Fair Market Value of the Prope11y; or (v) in the event a
creditor acquires title to the Property through a deed in lieu of foreclosure, a tmstee's deed upon
sale, or otherwise, the amount paid for the Property at a creditor's sale of the Prope11y; or (vi) in
the event of payment at the expiration of the Te1m the Fair Market Value of the Property. The
provisions of this Section 2(b )(iv) shall be subject to Section 16 of the Resale Restriction
Agreement which requires that when Excess Sales Proceeds are paid to the City that the
Appreciation Amount is calculated by subtracting the Original Affordable Purchase Price from
the Maximum Restricted Resale Price.
(b) "Contingent Interest" shall mean the percentage of the Appreciation
Amount set out in Section 4.
( c) "Excess Sales Proceeds" shall have the meaning set forth in Section 16 of
the Resale Restriction Agreement.
(d) "Fair Market Value11 shall be dete1mined by a real estate appraisal made
by an independent residential appraiser designated by the City. If possible, the appraisal shall be
based upon the sales prices of comparable prope11ies sold in the market area during the preceding
thi-ee (3)-month period. The cost of the appraisal shall be paid by the Bon-ower. Nothing in this
subparagraph shall preclude the Bmmwer and the City from establishing the Fair Market Value
of the Prope11y by mutual agreement in lieu of an appraisal.
( e) "First M011gage" shall mean the promissory note and deed of trust
evidencing and securing the first mortgage loan for the Property.
(f) "Maximum Restricted Resale Price" shall have the same meaning as set
fo11h in Section 14 of the Resale Restriction Agreement.
(g) "Original Affordable Purchase Price" shall mean Three Hundred Nine
Thousand Four Hundred Ninety-Four Dollars ($309,494), the affordable price paid by B01mwer
to the Seller for the purchase of the Prope11y. The Original Affordable Purchase Price is the
effective price of the Prope11y. The 11Full Purchase Price" of the Property ( as defined in the
Resale Restriction Agreement) is equal to the Original Affordable Purchase Price plus the
amount of this Promissory Note.
(h) "Property" shall mean the land and improvements thereon encumbered by
the deed of tiust executed in connection with this Note.
IO I O/l 7 /2045538.2
(i) "Resale Restriction Agreement" shall mean the Declaration of Restrictive
Covenants Regarding Restrictions on Transfer of Property, Occupancy Restrictions, Refinancing
Restrictions and Option to Purchase executed by the Bo1rnwer and the City in connection with
the Homebuyer Loan.
G) "Transfer" shall mean any sale, assignment or transfer, voluntary or
involunta1y, of any interest in the Property, including, but not limited to, a fee simple interest, a
joint tenancy interest, tenancy in common interest, a life estate, a leasehold interest, or an interest
evidenced by a land contract by which possession of the Property is transferred and the Borrower
retains title. Any Transfer without satisfaction of the provisions of this Note is prohibited. A
transfer: (i) to an existing spouse who is also an obligor under the Note; (ii) by a Bo1rnwer to a
spouse where the spouse becomes the co-owner of the Property; (iii) between spouses as part of a
marriage dissolution proceeding; (iv) to an existing spouse or child of the Borrower by devise or
inhedtance following the death of the B01rnwer; (v) by the Borrower into an inter vivos
revocable tmst in which the B01Tower is the tmstor; or (vi) by refinance of the First Mortgage
meeting the requirements of Section 11, shall not be considered a Transfer for the purposes of
this Note; provided, however, that the Borrower shall continue to occupy the Property as his or
her principal place of residence ( except where the transfer occurs pursuant to subsection (iii) or
(iv) above, in which event the transferee shall owner-occupy the Home and affinnatively assume
Owner's obligations under this Note and the City Deed of Tmst, and the Resale Restriction
Agreement) and the Bo1rnwer shall provide written notice of such transfer to the City pursuant to
Section 8 of the Resale Restriction Agreement.
(k) "Unauthorized Rental Proceeds" shall have the meaning set forth in
Section 4 of the Resale Restriction Agreement.
3. Security. This Note is secured by a second deed oftmst dated the same date as
this Note (the 11Deed of Trust").
4. Contingent Interest. The Borrower shall pay contingent interest equal to
Eight Percent (48%) of the Appreciation Amount (the "Contingent Interest11). No interest other
than Contingent Interest shall be due hereunder. The Contingent Interest shall be paid to the City
at the time set forth in Section 6 below. Bo1rnwer acknowledges that the Contingent Interest
percentage amount is equal to the Homebuyer Loan principal amount as a percentage of the total
purchase price of the Property paid by the Borrower at the time of purchase (which includes the
amount of this Note), multiplied by seventy-five one hundredths (.75). Borrower acknowledges
that this calculation of the percentage of the Appreciation Amount due to the City as Contingent
Interest includes a twenty-five percent (25%) discount to Borrower to account for any capital
improvements B01rnwer may make to the Property. City has agreed that the Contingent Interest
percent shall not exceed fifty percent (50%).
5. Tetm. The Tenn of this Note shall mean the period commencing on the date of
this Note and expiring on the date thirty (30) years thereafter (the 11Term11).
6. Repayment. The total amount of the principal and any Contingent Interest owed
under this Note (including Unauthorized Rental Proceeds and Excess Sales Proceeds due to the
l 0 l 0/ 17 /2045538.2
City pursuant to the Resale Restriction Agreement) shall immediately become due and payable:
(a) in the event of a default by the B01TOwer under this Note, the Resale Restriction Agreement,
the Deed of Trust, or the First Mortgage; (b) on the date Transfer is made whether voluntarily,
involuntarily, or by operation oflaw and whether by deed, contract of sale, gift, devise, bequest
or othe1wise; ( c) in the event Bonower ceases to occupy the Property as his or her principal
place ofresidence; or (d) at the end of the Term of this Note as described above in Section 5.
Failure to declare such amounts due shall not constitute a waiver on the part of the City to
declare them due in the event of a subsequent Transfer.
7. Late Payment Fees. If any payment due hereunder is not paid within five (5) days
from the date such becomes due, Bonower shall pay a reasonable late or collection charge equal
to five percent (5%) of the amount so unpaid. The City and B01TOwer agree that the actual
damages and costs sustained by the City due to the failure to make timely payments would be
extremely difficult to measure and that the charges specified in this paragraph represent a
reasonable estimate by B01TOwer and the City of a fair average compensation for such damages
and costs. Such charges shall be paid by B01TOwer without prejudice to the right of the City to
collect any other amounts provided to be paid under this Note, the Resale Restriction Agreement
or the Deed of Trust or, with respect to late payments, to declare a default.
8. Prepayments. The B01TOwer may prepay all or pa11 of the balance due under this
Note including principal and Contingent Interest. In the event the entire amount of principal due
under this Note is prepaid, all Contingent Interest, calculated as of the date of prepayment, shall
also be due at the time of prepayment. In the event of partial prepayment, the amount of
Contingent Interest due upon prepayment shall be determined at the time of any partial
prepayment based on the Fair Market Value of the Property. Partial prepayments shall be
allocated between payment of Contingent Interest and payment of principal in the same
proportion as the ratio of each to the total amount due (principal and interest) at the time of
prepayment. Following a prepayment, the percentage of Contingent Interest due the City shall
be recalculated to reflect the paydown in principal owed the City. The recalculated Contingent
Interest shall equal the outstanding principal amount of the Note divided by Full Purchase Price.
Notwithstanding any prepayment of amounts due under this Note, the Resale Restriction
Agreement shall continue in full force and effect for the period of time set forth in Section 25 of
the Resale Restriction Agreement.
9. Limitations on Assumption of Note. The Bonower acknowledges that this Note
is given in connection with the purchase of the Prope11y as pai1 of a program of the City to assist
in the purchase of homes by low-income households. Consequently, this Note is only assumable
by Eligible Purchasers (as defined in the Resale Restriction Agreement). This Note is due in full
upon all other Transfers. In the event this Note is assumed by an Eligible Purchaser, the Eligible
Purchaser shall execute a new note, which shall be in an amount equal to the principal and
Contingent Interest owed by B01TOwer, a new deed of tiust and a new resale restriction
agreement with a restarted tenn in fo1ms approved by the City.
10. Maintenance; Taxes; Insurance. Bonow er shall maintain the Property in good
repair and in a neat, clean and orderly condition. B01TOwer shall promptly pay all prope11y taxes
l010/17/2045538,2
due on the Property prior to any delinquency and shall comply with the insurance requirements
set fo1ih in the Deed of Tmst and Resale Restriction Agreement.
11. Refinance of First Mortgage Loan. The outstanding principal and interest on this
Note shall not be due upon prepayment and refinance of the First Mortgage, and the Resale
Restriction Agreement and Deed of Tmst shall be subordinated to the refinanced loan, provided
that: (a) such refinancing is approved by the City; (b) the amount refinanced does not exceed the
outstanding principal balance of the First Mmigage at the time of refinance plus reasonable costs
of refinance; and ( c) the refinance does not result in higher monthly payments on the First
Mortgage Loan than were due prior to the refinance.
12. Default.
(a) The Bonower shall be in default under this Note if he or she is in default
under the First Mo1igage following the expiration of First Mortgage cure periods, or if, after the
notice and cure period provided by the City to the B01Tower pursuant to the notice and cure
provisions of the Deed ofTmst, the B01Tower: (i) fails to pay any money when due under this
Note; (ii) breaches any representation or covenant made in this Note or Resale Restriction
Agreement in any material respect; or (iii) breaches any provision of the Deed ofTmst.
(b) Upon the Bmrnwer's breach of any covenant or agreement of the
Bonow er in this Note, the Resale Restriction Agreement or the Deed of Trnst, including, but not
limited to, the covenants to pay, when due, any sums secured by the Deed of Tmst, the City,
prior to acceleration, will send, in the manner set forth in Section 17, notice to the Bmrnwer
specifying: (i) the breach; (ii) if the breach is curable, the action required to cure such breach;
(iii) a date, not less than thirty (30) days from the date the notice is effective, by which such
breach, if curable, is to be cured; and (iv) if the breach is curable, that failure to cure such breach
on or before the date specified in the notice may result in acceleration of the sums secured by the
Deed of Tmst and foreclosure by the City. The notice will also infonn the B01Tower of the
Bonower's right to reinstate after acceleration and the right to bring a court action to asse1i the
nonexistence of default or any other defense of the B01wwer to acceleration and sale.
13. Acceleration. Upon the occuffence of a default under this Note, the Resale
Restriction Agreement, the Deed of Tmst, or the First Mmigage, the City shall have the right to
declare the full amount of the principal along with any Contingent Interest under this Note
immediately due and payable. Any failure by the City to pursue its legal and equitable remedies
upon default shall not constitute a waiver of the City's right to declare a default and exercise all
of its rights under this Note, the Resale Restriction Agreement, and the Deed ofTmst. Nor shall
acceptance by the City of any payment provided for herein constitute a waiver of the City's right
to require prompt payment of any remaining principal and interest owed.
14. No Offset. The Borrower hereby waives any rights of offset it now has or may
later have against the City, its successors and assigns, and agrees to make the payments called for
in this Note in accordance with the terms of this Note.
1010/17/2045538.2
15. Waiver; Attorney Fees and Costs. The Bon-ower and any endorsers or guarantors
of this Note, for themselves, their heirs, legal representatives, successors and assigns,
respectively, severally waive diligence, presentment, protest, and demand, and notice of protest,
dishonor and non-payment of this Note, and expressly waive any rights to be released by reason
of any extension of time or change in tenns of payment, or change, alteration or release of any
security given for the payments hereof, and expressly waive the right to plead any and all statutes
of limitations as a defense to any demand on this Note or agreement to pay the same, and jointly
and severally agree to pay all costs of collection when incurred, including reasonable attorney
fees. If an action is instituted on this Note, the Bmrnwer promises to pay, in addition to the costs
and disbursements allowed by law, such sum as a court may adjudge reasonable as attorneys'
fees in such action.
16. No Waiver by the City. No waiver of any breach, default or failure of condition
under the terms of this Note shall be implied from any failure of the City to take action with
respect to such breach, default or failure or from any previous waiver of any similar or unrelated
breach, default or failure.
17. Notices. All notices required in this Note shall be sent by certified mail, return
receipt requested, or express delivery service with a delivery receipt, or personally delivered with
a delivery receipt obtained and shall be deemed to be effective as of the date shown on the
delivery receipt as the date of delive1y, the date delivery was refused, or the date the notice was
returned as undeliverable as follows:
To the Borrower:
6172 Colt Place No. 103
Carlsbad, CA 92009
To the City:
City of Carlsbad
Housing Se1vices Manager
1200 Carlsbad Village Drive
Carlsbad, CA 92008
Attn: Affordable Housing Resale Program
The parties may subsequently change addresses by providing written notice of the change
in address to the other parties in accordance with this section.
18. Joint and Several Obligations. This Note is the joint and several obligations of all
makers, sureties, guarantors and endorsers, and shall be binding upon them and their successors
and assigns.
19. Nonliability for Negligence, Loss, or Damage. Bonower acknowledges,
understands and agrees that the relationship between Bon-ower and the City is solely that of
boITower and lender, and that the City does not unde11ake or assume any responsibility for or
duty to Bon-ower to select, review, inspect, supervise, pass judgment on, or inform BoITower of
IO I O/l 7 /2045538.2
the quality, adequacy or suitability of the Prope1ty or any other matter. The City owes no duty of
care to protect Bo1wwer against negligent, faulty, inadequate or defective building or
construction or any condition of the Property and Bo1Tower agrees that neither Bo1Tower, or
Bmrower's heirs, successors or assigns shall ever claim, have or asse1i any right or action against
the City for any loss, damage or other matter arising out of or resulting from any condition of the
Property and will hold the City hrumless from any liability, loss or damage for these things.
20. Tennination of Restrictions. Any legal restrictions on conveyance of the Property
(as defined in 24 CFR 203.4l(a)(3)) included in this Note shall tenuinate upon transfer of the
Prope1ty by foreclosure, deed in lieu of foreclosure, or assignment to the Secretary of the United
States Department of Housing and Urban Development.
21. Controlling Law. This Note shall be construed in accordance with and be
governed by the laws of the State of California.
22. Assignment by City. The City may assign its right to receive the proceeds under
this Note to any person and upon notice to the Bonower by the City all payments shall be made
to the assignee.
23. Invalid Provisions. If any one or more of the provisions contained in this Note
shall for any reason be held to be invalid, illegal or unenforceable in any respect, then such
provision or provisions shall be deemed severable from the remaining provisions contained in
this Note, and this Note shall be construed as if such invalid, illegal or unenforceable provision
had never been contained in this Note.
24. Entire Agreement. This Note (along with the Resale Restriction Agreement and
Deed of Trust) sets forth the entire understanding and agreement of the City and the Bo1Tower
and any amendment, alteration or interpretation of this Note must be in writing signed by both
the City and the Borrower.
Remaillder of page left intentionally blank
l 0 I 0/l 7 /2045538.2
Executed by the undersigned as of the date first written above.
Notice to Borrower: This Note is not assumable
(Signature)
rloli tr-J/VJMqol N0t1/fr7 ;Vte/,f
(Print Name)
10/22=/202q
(Dated)
BORROWER:
~-==-=------
Mdint\. lY\ew
(Print Name)
(Dated)
1010/17/2045538.2
Recording Requested by:
Fidelity National Title
San Diego Office
Recording requested by and
when recorded mail to:
City of Carlsbad
Housing Services Manager
1200 Carlsbad Village Drive
Carlsbad, CA 92008
DOC# 2025-0312746
111111111111 lllll 111111111111111111111111111111111111111111111 IIII IIII
Nov 05, 2025 02:58 PM
OFFICIAL RECORDS
JORDAN Z. MARKS,
SAN DIEGO COUNTY RECORDER FEES: $0.00 (SB2 Atkins: $0.00)
PAGES:34
No fee for recording pursuant to
Government Code Section 27383
DECLARATION OF RESTRICTIVE COVENANTS REGARDING RESTRICTIONS ON
TRANSFER OF PROPERTY, OCCUPANCY RESTRICTIONS, REFINANCING
RESTRICTIONS, AND OPTION TO PURCHASE
(City of Carlsbad Affordable Housing Resale Program)
Owners: Mohammad Nairn Mehr and Madina Mehr
Address of Property: 6172 Colt Place No. 103
Carlsbad, CA 92009
Note to Owner: This document contains provisions restricting your ability to sell this
property and obtain junior financing.
This Declaration of Restrictive Covenants Regarding Restrictions on Transfer of Property,
Occupancy Restrictions, Refinancing Restdctions and Option to Purchase ("Resale Restriction
Agreement") is entered into as of this 20th day ofOctober , 2025, by and between the
City of Carlsbad, a municipal c01poration (the "City"), and Mohammad Nairn Melu· and Madina
Mehr (11Ow11er11).
RECITALS
A. The City has developed a second mortgage program designed to assist qualified
lower income households purchase their homes located within the City of Carlsbad ("Affordable
Housing Resale Program 11).
B. In connection with the Affordable Housing Resale Program and in fulfillment of
its inclusiona1y obligation pursuant to an Affordable Housing Agreement C'Affordable Housing
Agreement") between Shea Homes Limited Partnership, a California limited liability company
entered into November 11, 2017. Developer made a subsidy loan ("Homebuyer Loan") to allow
for the purchase of a home by a low-income household located in Carlsbad, California on that
certain real property and more particularly described in Exhibit A C'Property") and then assigned
the Homebuyer Loan to the City.
C. As used herein, the tem1 "Property" includes both the real property and all
improvements now or hereafter erected thereon (including, but not limited to the residential
dwelling unit), and all easements, rights, appurtenances, and all fixtures now or hereafter
attached thereto.
i" Exempt from fee per GC27388.1 due to
"\' being recorded in connection with
concurrent transfer that is subject to the
imposition of documentary transfer tax.
\
D. The "Original Affordable Purchase Price" of the Property is Three Hundred Nine
Thousand Four Hundred Ninety-Four Dollars ($309,494). The Original Affordable Purchase
Price is the effective price of the Property paid by the Owner. The actual price of the Property is
equal to the Original Affordable Purchase Price plus the amount of the Promiss01y Note ("Full
Purchase Price"). Owner is a low-income household.
E. The Homebuyer Loan is Seven Hundred Sixty-Five Thousand Five Hundred
Sixteen Dollars ($765,516). The Homebuyer Loan is evidenced by a promisso1y note in the
amount of the Loan ("City Note"). This Agreement and the City Note shall be secured by a deed
of trust ("City Deed of Trnst") subordinate to the lien of First Lender Deed ofTrnst.
F. The purpose of this Agreement is to place resale controls on the Property, to
provide the City an option to purchase the Prope1ty at a restricted price, and to ensure that the
Owner complies with the Affordable Housing Resale Program requirements.
G. This Agreement and the City Note require repayment of the Homebuyer Loan
plus contingent interest and, in certain instances, payment of excess proceeds of sale. This
Agreement will remain in full effect as an encumbrance on the Property after any
prepayment of the City Note by the Owner.
NOW, THEREFORE, in consideration of the benefits received by the Owner and the
City, the Owner and the City agree, as follows:
1. DEFJNITIONS AND EXHIBITS
A. The following terms are specifically defined for this Agreement and their
definitions can be found in the Sections indicated below:
(1) "Affordable Sales Price" -Section 14A(l).
(2) "Agreement" -first sentence of the Agreement on page 1.
(3) "City" -first sentence of the Agreement on page 1.
(4) "City Deed ofTrnst" -Recital F.
(5) "City Designated Purchaser" -Section 12B.
(6) "City Note" -Recital F.
(7) "City Option" -Section 12A.
(8) "City Response Notice" -Section 10.
(9) "Default" -Section 18
( 10) "Eligible Purchaser" Section 15B.
(11) 11Excess Sales Proceeds" -Section 16.
(12) 11Fair Market Value11 -Section 14B.
(13) 11First Lender" -Recital E.
(14) 11First Lender Deed of Trust11 or 11First Mortgage11-Recital E.
(15) "First Lender Loan11 -Recital E.
(16) 11Full Purchase P1ice11 -Recital D.
(17) 11Full Sales Price" -Section 14A.
(18) 11Homebuyer Loan" -Recital B.
(19) 11HUD11 -Section 30.
(20) "Market Purchaser11 -Section 1 0C.
(21) 11Maximum Restricted Resale Price" -Section 14.
(22) "Median Income" -Section 14A.
(23) "Official Records" -Recital E.
(24) "Original Affordable Purchase Price11 -Recital D.
(25) 11Owner11 -first sentence of the Agreement on page I.
(26) "Owner's Notice of Intent to Transfer" -Section 8.
(27) 11Property11 -Recital B.
(28) "Proposed Purchaser11 -Section 15A.
(29) 11Transfer11 -Section 7.
(30) 11Unauth01ized Rental Proceeds11 -Section 4.
B. The following Exhibits are attached to this Agreement:
(1) Exhibit A: Legal Description of Property
(2)
(3)
Exhibit B:
Exhibit C:
Fo1m of Owner Occupancy Certification
Form of Owner's Notice offutent to Transfer
(4)
(5)
(6)
ExhibitD:
ExhibitE:
Exhibit F:
2. OWNER CERTIFICATIONS
Fmm of City Response Notice
Fonn of Owner Acknowledgement of City Response
Notice
F01m of Owner Request for City Subordination to
Refinanced First Lender Loan
The Owner certifies that: (i) the financial and other infonnation previously provided in
order to qualify to purchase the Property is true and con-ect as of the date first written above; (ii)
the Owner is an Eligible Purchaser; (iii) the Owner has disclosed all individuals that shall reside
at the Property; and (iv) the Owner shall occupy the Property as the Owner's principal place of
residence.
3. OCCUPANCY OF PROPERTY
The Owner shall occupy the Property as the Owner's principal place of residence within
sixty (60) days after the close of escrow on the Homebuyer Loan. Failure by the Owner to
occupy the Property as the Owner's principal place ofresidence shall constitute a Default under
this Agreement for which the City may exercise its option to purchase pursuant to Section 21
below. The Owner shall be considered as occupying the Property if the Owner is residing at the
Property for at least ten (10) months out of each calendar year. _ The Owner shall provide an
annual written certification in the form shown in the attached Exhibit B, to the City that the
Owner is occupying the Property as his or her principal place of residence and listing all
occupants residing at the Property. No later than ten (10) days after receipt of the City's w1itten
request, the Owner shall provide any additional infonnation and documents which the City
requests including but not limited to tax returns and bank statements, which may evidence
whether the Owner is occupying the Property. Failure to provide any additional info1mation or
documentation requested shall constitute a Default under this Agreement.
4. NO LEASING OF PROPERTY
The Owner shall not lease all, or any portion of, the Property to another party. Any lease,
sublease, or any other renting of the Property to a third-party is prohibited and shall be a Default
under this Agreement and the City Deed of Trust. For the avoidance of doubt, the City and the
Owner agree and acknowledge that: (i) the Property (or any portion of the Prope1ty) is prohibited
from being used a "shmt-term vacation rental" (as such term is defined in Chapter 5.60 of the
City of Carlsbad Municipal Code, as may be amended from time to time); (ii) no portion of the
Pi·operty may be used for tourist or transient use, or any other shmt-term rental of the Property;
and (iii) listing the Property on any "hosting platf01m" (as defined in California Business &
Professions Code 22590, as may be amended from time to time), including, but not limited to
any Internet-based "hosting platform", such as "airbnb.com", or any similar service, is
prohibited. All proceeds derived from any leasing, subleasing, or any other activity prohibited
by this Section are defined as "Unauthorized Rental Proceeds". In addition to all other available
rights and remedies set forth in this Agreement, in the event of violation of this Section, the
Owner shall pay to the City all Unauthorized Rental Proceeds in accordance with Section 19.
5. HOMEBUYER EDUCATION CLASS
The Owner successfully completed a homebuyer education course offered by Money
Management International.
6. MAINTENANCE AND INSURANCE PROCEEDS
A. The Owner shall maintain the Property, including landscaping, in good repair and
in a neat, clean and orderly condition and will not commit waste or pe1mit deterioration of the
Property. Failure by the Owner to maintain the Property shall constitute a Default under this
Agreement for which the City may exercise the City Option to purchase the Property pursuant to
Section 21 below.
B. The Owner shall maintain a standard fire and extended coverage home insurance
policy equal to the replacement value of the Property (adjusted eve1y five (5) years by appraisal,
ifrequested by City), naming the City as an additional insured. Additional insurance
requirements are set forth in Section 6 of the City Deed of Trnst.
7. TRANSFER AND SALE RESTRICTIONS
Any Transfer of the Property will be subject to the provisions of this Agreement
including, without limitation, exercise of the City Option pursuant to Section 12 below.
11Transfer11 shall mean any sale, assignment or transfer, voluntaiy or involuntaiy, of any interest
in the Property, including, but not limited to, a fee simple interest, a joint tenancy interest,
tenancy in common interest, a life estate, a leasehold interest, an interest evidenced by a land
contract by which possession of the Property is transfen-ed and Owner retains title. Any Transfer
without satisfaction of the provisions of this Agreement is prohibited. A Transfer shall not
include a transfer: (i) to an existing spouse who is also an obligor under the City Note; (ii) by the
Owner to a spouse where the spouse becomes the co"owner of the Property; (iii) between
spouses as pai-t of a maiTiage dissolution proceeding; (iv) to an existing spouse of Owner by
devise or inheritance following the death of Owner; (v) by Owner into an inter vivas revocable
tlust in which Owner is the Trnstor; or (vi) refinance of the First Mortgage meeting the
requirements of Section 28 of this Agreement; provided, however, that Owner shall provide
written notice of all such transfers to City pursuant to Section 8 below; and Owner shall continue
to occupy the Prope1-ty as his or her principal place of residence ( except where the u·ansfer occurs
pursuant to subsection (iii) or (iv) above, in which event the transferee shall owner"occupy the
Prope1-ty and affi1matively assume Owner's obligations under this Agreement, the City Note and
the City Deed ofTrnst).
8. NOTICE OF INTENDED TRANSFER
A. In the event the Owner intends to transfer (including without limitation all
"Transfers" as defined in Section 7) or vacate the Prope1-ty, the Owner shall promptly give the
City written notice of such intent (the "Owner's Notice of Intent to Transfer") in the fmm shown
in the attached Exhibit C. The Owner shall give the City the Owner's Notice of Intent to
Transfer prior to notifying real estate brokers or lenders of Owner's intent to Transfer the
Property and prior to listing of the Property on the Multiple Listing Service. The Owner's Notice
of Intent to Transfer shall be sent to the City in the manner and at the address provided in Section
32 of this Agreement. The Owner's Notice of Intent to Transfer shall include the infonnation
necessaiy for the City to determine the Maximum Restricted Resale Price of the Property,
including the following infonnation:
( 1) _ the address of the Property;
(2) the date of purchase of the Property by the Owner;
(3) the Original Affordable Purchase P1ice of the Property;
(4) the Full Purchase Price of the Property (which is the Original Affordable
Purchase Price plus the original ainount of the Homebuyer Loan).
(5) a copy of the HUD-I Settlement Statement or equivalent document from
the close of escrow on the Owner's purchase of the Property;
(6) the date on which Owner intends to vacate Property;
(7) the name and phone number of the person to contact to schedule
inspection of the Property by the City.
9. OWNER PREPARATION OF PROPERTY FOR SALE
A. The Owner may not wish to contract with a real estate broker to sell the Property
until the Owner has received the City Response Notice pursuant to Section 10 below, as the
services of a broker will not be required if the City exercises the City Option to purchase the
Property pursuant to Section 12 below.
B. Following delive1y to the City of the Owner's Notice of Intent to Transfer, the
Owner shall prepare the Property for sale, as follows:
(1) within thirty (30) days of delive1y of the Owner's Notice of Intent to
Trai1sfer, the Owner shall obtain and deliver to the City a cun-ent written repo1t of inspection of
the Property by a licensed structural pest control operator;
(2) within the sooner of: (a) sixty (60) days from the date of delive1y of the
Owner's Notice of Intent to Transfer; or (b) prior to close of escrow on the Transfer, the Owner
shall repair all damage noted in the pest report including damage caused by infestation or
infection by wood-destroying pests;
(3) within thirty (30) days of the date of the Owner's Notice of Intent to
Transfer, the Owner shall allow the City to inspect the Property to determine its physical
condition;
( 4) if the Property is vacant, the Owner shall maintain utility connections until
the close of escrow on the Transfer; and
(5) the Owner shall not remove any kitchen appliances prior to vacating the
Property without the City approving such removal; in the event the City approves the removal of
any kitchen appliances the Owner shall replace said appliances with new and comparable
appliances; and
( 6) in the event of purchase of the Property by the City or City Designated
Purchaser, the Owner shall pe1mit a final walk-through of the Property by the City or City
Designated Purchaser, in the final three (3) days prior to close of escrow on the Transfer.
10. CITY RESPONSE TO OWNER'S NOTICE OF INTENDED TRANSFER
City shall respond in writing (the 11City Response Notice11) to the Owner's Notice of Intent
to Transfer. The form of City Response Notice is attached as Exhibit D. The City Response
Notice shall inf01m the Owner of the City's election to proceed under one (1) of the following
two (2) alternatives:
A. City Exercise of City Purchase Option. The City Response Notice may notify the
Owner that the City or a City Designated Purchaser elects to exercise the City Option to purchase
the Property. The City Response Notice shall be sent within thirty (30) days of City receipt of
Owner's Notice of Intent to Transfer and shail include the City's calculation of the: (i) Maximum
Restricted Resale Price pursuant to Section 14 below to be paid by the City or a City Designated
Purchaser; and (ii) the transaction fee to be paid by the Owner pursuant to Section 12 below;
B. Owner Sale at a Restlicted Sales Price to Eligible Purchaser. Alternatively, the
City Response Notice may notify the Owner that the City or a City Designated Purchaser will not
exercise the City Option to purchase the Property. In this case, the City Response Notice shall
inform the Owner that the Owner may proceed to sell the Property to an Eligible Purchaser at a
price not to exceed the Maximum Restricted Resale Price, as set forth in Section 14 and pursuant
to the procedure set forth in Section 14 below. In this event, the City Response Notice shall
include the following info1mation: (1) the maximum qualifying income for an Eligible
Purchaser (which shall be the same income category as the Owner at the time of the Owne1Js
purchase); (2) the certifications required of an Eligible Purchaser; (3) the Maximum Restricted
Resale Price the Owner may receive for the Property, calculated by the City pursuant to
Section 14 below; (4) whether Affordable Housing Resale Program assistance from the City may
be available to an Eligible Purchaser; and (5) Owner's repayment obligation as required by
Section 13; and
11. OWNER ACKNOWLEDGEMENT OF CITY RESPONSE NOTICE
No later than seven (7) days following the date of the City Response Notice, the Owner
shall acknowledge in writing to the City, in the form shown in the attached Exhibit E, that he/she
has received the City Response Notice and still intends to Transfer the Property.
12. CITY PURCHASE OPTION
A. The Owner agrees that if the Owner decides to Transfer the Property, the City
shall have the option to purchase the Property for the Maximum Restricted Resale Price
calculated pursuant to Section 14 of this Agreement (the "City Option"). The Owner shall pay
the City a transaction fee up to six percent (6%) of the Maximum Reshicted Resale P1ice if the
City or a City Designated Purchaser exercises the City Option and purchases the Property. The
City Option may be exercised by the City or by a City Designated Purchaser in the City
Response Notice. If the City Response Notice notifies the Owner that the City or a City
Designated Purchaser will exercise the City Option to purchase the Property, the City or the City
Designated Purchaser shall purchase the Property within ninety (90) days of the date of the City
Response Notice and title shall be delivered by the Owner to the City by grant deed free and
clear of any m01tgage or other liens, unless approved in writing by the City.
B. The City may assign the City Option to another public agency, a nonprofit
corporation, or an Eligible Purchaser selected by the City (any of which shall be refeITed to
herein as a "City Designated Purchaser"). If the City assigns the City Option to a City
Designated Purchaser, the City Response Notice shall be executed by the City Designated
Purchaser and shall notify the Owner that a City Designated Purchaser is exercising the City
Option in lieu of the City.
C. In the event of exercise of the City Option and purchase of the Property by the
City or a City Designated Purchaser, the Owner shall pe1mit a final walk-through of the Property
by the City or the City Designated Purchaser in the final three (3) days prior to close of escrow
on the Transfer.
13. REPAYMENT OF CITY NOTE
Upon any Transfer of the Prope1ty, the outstanding principal and interest due under the
City Note shall be repaid pursuant to the City Note unless: (i) such p1incipal and interest is
assumed by an Eligible Purchaser in accordance with Section 9 of the City Note; or (ii) the City
exercises the City Option to purchase the Property, in which event the outstanding amount of
principal and Contingent Interest due under the City Note shall be paid to the City in the fonn of
a credit against the purchase price to be paid by the City to the Owner. Repayment of the City
Note shall not affect Owner's obligation to comply with this Agreement, which shall remain in
full force and effect following any repayment of the City Note.
14. DETERMINATION OF MAXIMUM RESTRICTED RESALE PRICE
The maximum sales price that the Owner shall receive from the resale of the Property to
the City or City Designated Purchaser, or from other sale or Transfer by the Owner when the
Owner sends the Notice of Intent to Transfer (the "Maximum Restricted Resale Price") shall be
the Full Sales Price or the Fair Market Value, whichever is less.
A. Full Sales Price.
(1) The Full Sales Price of the Property means: (a) the Affordable Sales P1ice;
plus (b) the principal and contingent interest then due on the City Note. The Affordable Sales
Price means the Original Affordable Purchase P1ice, as set f01th in Recital D to this Agreement,
increased by the percentage of increase in the Median Income from the date of the original
purchase of the Property by the Owner to the date ofreceipt by the City of the Owner's Notice of
Intent to Transfer. "Median Income" shall refer to the median yearly income, adjusted for a
household size of four, in San Diego County, as published by the California Deprutment of
Housing and Community Development C'HCD11), or, in the event such income dete1mination is
no longer published by HCD, or has not been updated for a period of at least eighteen ( 18)
months, the City may use or develop such other reasonable method as it may choose in order to
detennine the median yearly income in San Diego County. As of the date of Owner's purchase
of the Property, the Median Income for a household of four persons is One Hundred Thilty
Thousand and Eight Hundred Dollars ($130,800).
(2) The Affordable Sales Price shall include a downward adjustment, where
applicable, in an amount necessary to repair any violations of applicable building, plumbing,
electric, fire or housing codes or any other provisions of the City of Carlsbad Building Code, as
well as any other repairs needed to put the Property into a "sellable condition". Items necessary
to put a Property into sellable condition shall be detennined by the City, and may include
cleaning, painting and making needed stmctural, mechanical, electlical, plumbing and fixed
appliance repairs and other defe1Ted maintenance repairs.
B. Fair Market Value. In certain circumstances it may be necessary to dete1mine the
fair market value of the Property without taking account of the resale resti·ictions imposed by this
Agreement (the 11Fair Market Value"). These circumstances include but are not limited to: (I)
where the parties wish to dete1mine if the Full Sales Price exceeds the Fair Market Value in
order to determine the Maximum Reshicted Resale Price pursuant to this section; (2) where the
parties wish to determine if the sales pdce of the Property to a Market Purchaser is comparable
to the Fair Market Value; and (3) to calculate the amount due under the City Note at the end of
the term of the City Note or upon prepayment. If it is necessary to determine the Fair Market
Value of the Property, it shall be dete1mined by a certified MAI or other qualified real estate
appraiser approved in advance by the City. If possible, the appraisal shall be based upon the
sales pdces of comparable properties sold in the market area during the preceding three (3)
month period. The cost of the appraisal shall be paid by the Owner, unless the appraisal is
obtained from a new purchaser. Nothing in this section shall preclude the Owner and the City
from establishing the Fair Market Value of the Property by mutual agreement i11 lieu of an
appraisal pursuant to this section.
15. SALE BY OWNER IF CITY DOES NOT EXERCISE OPTION TO PURCHASE
In the event the City Response Notice notifies the Owner to proceed to sell the Property
to an Eligible Purchaser at a price not exceeding the Maxilnum Restricted Resale Price, the
Owner may proceed to sell the Property in compliance with the following requirements:
A. Marketing. The Owner shall use bona fide good faith efforts to sell the Property
to an Eligible Purchaser in compliance with this section, including listing the Property on the
Multiple Listing Service, keeping the Property in an orderly condition, making the Property
available to show to agents and prospective buyers, and providing buyers with Eligible Purchaser
requirements, including income qualifications and the City's f01m of disclosure statement
summaiizing the terms of the buyer's occupancy and resale reshiction agreement with option to
purchase. A proposed purchaser ("Proposed Purchaser") who the Owner believes will qualify as
an Eligible Pm-chaser shall be refen-ed to the City for an eligibility dete1mination. If the
Proposed Purchaser qualifies as an Eligible Purchaser the City will also determine if such
Eligible Purchaser is eligible for City housing-related financial assistance that may be available
at the time of resale.
B. Eligible Purchaser. A Proposed Purchaser shall qualify as an "Eligible Purchaser"
ifhe or she meets the following requirements, as determined by the City:
(1) Income Eligibility. The combined maximum income for all household
members of the Proposed Purchaser shall not exceed the income level designated by the City in
the City Response Notice.
(2) Intent to Owner Occupy. The Proposed Purchaser shall certify that he or
she will occupy the Property as to his or her principal place of residence throughout his or her
ownership. Co-signers who will not occupy the property are prohibited.
(3) Agreement to Sign Resale Restriction Agreement and to Cooperate with
the City. The Proposed Purchaser shall agree to sign a resale restriction agreement restricting
future resale of the Property and shall agree to cooperate fully with the City in promptly
providing all info1mation requested by the City to assist the City in monitoring the Proposed
Purchaser's compliance with the resale restriction agreement.
C. Maximum Restricted Resale Price. The purchase price for the sale of the Property
by the Owner to the Eligible Purchaser shall not exceed the Maximum Restricted Resale Price
calculated by the City pursuant to Section 14 above, as set fo1th in the City Response Notice.
The closing costs paid by the Eligible Purchaser shall not exceed reasonable customary buyer's
closing costs in the County of San Diego. Pursuant to Section 13 of this Agreement and Section
9 of the City Note, the Eligible Purchaser may assume the Home buyer Loan and the effective
purchase price that the Eligible Purchaser will pay for the Property is anticipated to be the
Affordable Sales Price.
D. Disclosure and Submittals. The Owner and the Proposed Purchaser shall provide
the following information and documents to the City:
(1) The name, mailing address, telephone number, and email address in
writing of the Proposed Purchaser.
(2) A signed financial statement of the Proposed Purchaser in a fonn
acceptable to the City and any other suppmting documentation requested by the City. The
financial infonnation shall be used by the City to detennine the income eligibility of the
Proposed Purchaser.
(3) The proposed sales contract and all other related documents which shall
set forth all the terms of the sale of the Property. Said documents shall include at least the
following te1ms: (a) the sales price; and (b) the price to be paid by the Proposed Purchaser for the
Owner's personal Property, if any, for the services of the Owner, if any, and any credits,
allowances or other consideration, if any.
( 4) A written certification, from the Owner and the Proposed Purchaser in a
fonn acceptable to the City that the sale shall be closed in accordance with. the te1ms of the sales
contract and other documents submitted to and approved by the City. Thi ce1tification shall also
provide that the Proposed Purchaser or any other party has not paid and will not pay to the
Owner, and the Owner has not received and will not receive from the Proposed Purchaser or any
other party, money or other consideration, including personal property, in addition to what is set
fo1th in the sales contract and documents submitted to the City. The written ce1tification shall
also include a provision that in the event a Transfer is made in violation of the terms of this
Agreement or false or misleading statements are made in any documents or ce11ification
submitted to the City, the City shall have the right to foreclose on the Property or file an action at
law or in equity as may be appropriate. In any event, any costs, liabilities or obligations incurred
by the Owner and the Proposed Purchaser for the retum of any moneys paid or received in
violation of this Agreement or for any of the Owner's and/or the Proposed Purchaser's costs and
legal expenses, shall be home by the Owner and/or the Proposed Purchaser and they shall hold
the City hannless and reimburse the City's expenses, legal fees and costs for any action they
reasonably take in good faith in enforcing the te1ms of this Agreement.
(5) An executed buyer's resale restriction agreement and deed of trust to the
City from the Proposed Purchaser in fmms provided by the City. If the Proposed Purchaser is
receiving assistance from the Affordable Housing Resale Program, a promiss01y note to the City
shall also be required. The recordation of the new deed of trust and buyer's resale restriction
agreement shall be a condition of the City's approval of the proposed sale.
(6) The name of the title company escrow holder for the sale of the Property,
the escrow number, and name, address, and phone number of the escrow officer.
(7) Upon the close of the proposed sale, certified copies of the recorded City
deed of trust and buyer's resale restriction agreement, a copy of the final sales contract,
settlement statement, escrow instrnctions, and any other documents which the City may
reasonably request.
16. PAYMENT TO CITY OF EXCESS SALES PROCEEDS
If the Owner makes a Transfer in violation of this Agreement at any time, the Owner
shall pay the Excess Sales Proceeds to the City. If the Owner Transfers the Property in violation
of this Agreement, the Appreciation Amount (as such tennis defined in the City Note) shall be
calculated using the Maximum Restricted Resale Price of the Prope1ty, rather than the actual
sales price. For purposes of this Agreement, "Excess Sales Proceeds11 shall mean ninety-four
percent (94%) of the amount by which the gross sales proceeds received by the Owner from the
new purchaser exceed the Maximum Restricted Resale Price for the Property. This amount shall
be a debt of the Owner to the City, further evidenced by the City Note, and secured by the City
Deed of Trust. The Owner acknowledges that the City shall have no obligation to cause the
release and te1mination of this Agreement, or the reconveyance of the City Deed ofTrnst, until
the Excess Sales Proceeds are paid to the City. The City shall utilize the Excess Sales Proceeds
for City affordable housing programs. The Owner and the City acknowledge that the fmmula for
calculation of the amount of Excess Sales Proceeds due from the Owner to the City is intended t.o
cause the Owner to receive the same net sales proceeds (following payment by Owner of a
standard broker's commission) from sale of the Property at an unrestricted price to a market
purchaser (in violation of this Agreement) as the Owner would receive from sale of the Prope1ty
to the City, City Designated Purchaser or to an Eligible Purchaser at the Maximum Restricted
Resale Price.
17. DEFAULTS
A. A Default by the Owner is any failure to comply with the requirements of this
Agreement, the City Note or the City Deed of T1ust, whether by commission or omission which
includes, but is not limited to the following:
(1) The City detennines that the Owner has made a misrepresentation to
obtain the benefits of purchase of the Property or in connection with its obligations under this
Agreement.
(2) TI1e Owner fails to owner occupy the Property, as required pursuant to
Section 3 above, and such failure continues following written notice by the City and sixty (60)
days opportunity to cure following the date of such notice.
(3) The Owner rents all or a portion of the Property in violation of Section 4
above, and such failure continues following written notice by the City and sixty (60) days
opportunity to cure.
( 4) TI1e Owner fails to provide information or documents to the City that the
City deems necessary to determine Owner's compliance with the requirements of this
Agreement.
(5) The Owner makes a Transfer in violation of this Agreement.
( 6) A notice of default is issued under First Lender Loan.
(7) A lien is recorded in the Official Records against the Property other than
the First Mortgage.
(8) Owner records a deed of trust against the Property in the Official Records,
or otherwise places a m01tgage on the Property in violation of Section 28 below.
(9) Owner declares banlo.uptcy or malces an assignnient of assets for the
benefit of creditors.
B. . Upon a declaration of Default by the City under this Agreement, the City may
exercise any remedies at law or in equity, including without limitation, any or all of the
following:
(I) Declare all Excess Sales Proceeds immediately due and payable without
further demand, accelerate payments due under the City Note and invoke the power of sale under
the City Deed of Trust;
(2) Apply to a comt of competent jurisdiction for such relief at law or in
equity as may be appropriate, including, but not limited to specific perfonnance.
(3) Declare a Default under the City Note and the City Deed of Trust and
pursue all City remedies under the City Note and the City Deed of Trnst; and
(4) Exercise the City Option upon Default as described in Section 21, below.
Owner acknowledges that any breach in Owner's pe1formance of Owner's obligations under this
Agreement shall cause iiTeparable haim to the City. Therefore, Owner agrees that the City is
entitled to equitable relief in the fonn of specific pe1formance upon its exercise of the City
Option set forth in Section 21, below, and that an award of damages may not be adequate to
compensate the City for Owner's failure to perform according to the terms of this Agreement.
The City, in its sole and absolute discretion, may elect the appropriate remedy for Owner's
default under this Agreement.
18. NOTICE AND CURE
Upon a violation of any of the provisions of this Agreement, the City Note or the City
Deed of Trnst, the City shall give written notice to the Owner specifying the nature of the
violation and demanding a cure. If the violation is not corrected to the satisfaction of the City
within a reasonable period of time, not longer than thiliy (30) days from the date the notice is
mailed, or within such further time as the City detennines is necessary to conect the violation, or
if the Owner is in default under the First Mortgage, the City may declai·e a Default under this
Agreement. If the violation is failure to occupy the Prope1iy, as set forth in Section 3, or any
rental of the Prope1iy or any other act prohibited by Section 4, then Owner shall be given sixty
(60) days from the date the notice is mailed to conect that violation, and, to the extent applicable,
remit all Unauthorized Rental Proceeds to the City before the City may declare a Default.
The City shall notify Fil'st Lender at the address provided by the First Lender to the City
in the manner set fo11h in Section 33 of this Agreement, if the City has declared a Default under
this Agreement or under the City Note or City Deed of Trnst.
19. NOTICE TO CITY OF DEFAULT
A request for notice of default and any notice of sale under any deed of trnst or m01tgage
with power of sale encumbering the Property shall be recorded by the City in the Official
Records for the benefit of the City. The City may declare a default under this Agreement upon
receipt of any notice given to the City pursuant to Civil Code Section 2924b and may exercise its
rights as provided in Sections 18 and 21.
In the event of default and foreclosure under the First Lender Loan or any other m01tgage
loan on the Prope1iy, the City shall have the same right as the Owner to cure defaults and redeem
the Prope1iy prior to the foreclosure sale. Nothing herein shall be construed as creating any
obligation of the City to cure any such default, nor shall this right to cure and redeem operate to
extend any time limitations in the default provisions of the underlying deed oftiust or mortgage.
If the City failed to file the request for notice of default, the City's right to purchase the
Prope1iy shall commence from the date a notice of default is given by the City to the Owner.
20. PURCHASE OPTION UPON DEFAULT
A. Purchase Option. Notwithstanding, and in addition to, the remedies provided the
City in Section 18, and the City Purchase Option provided in Section 12, the Owner hereby
grants to the City or the City Designated Purchaser the option to purchase the Property effective
upon the declaration of a Default by the City pursuant to Section 18 and Section 19 above, and
subject to notice and cure rights set forth in Section 19.
B. Exercise of Option. The option to purchase may be exercised upon a Default
under this Agreement or upon default under any promissory note, deed of trust or any other lien,
including a judgment lien, recorded against the Property. The City shall have thirty (30) days
after a Default is declared to notify the Owner and the First Lender of its decision to exercise its
option to purchase. Not later than ninety (90) days after the notice is given by the City to the
Owner of the City's intent to exercise its option, the City shall purchase the Property for the
Maximum Restlicted Resale Price set fmth in Section 14. The City may assign its rights to
purchase the Prope1ty under this section to a City Designated Purchaser.
21. NONLIABILITY OF THE CITY
A. No Obligation to Exercise Option. The City shall have no obligation to exercise
any option granted it under this Agreement. In no event shall the City become in any way liable
or obligated to the Owner or any successor-in-interest to the Owner by reason of its option to
purchase under Sections 12 and 21 nor shall the City be in any way obligated or liable to the
Owner or any successor-in-interest to the Owner for any failure to exercise its option to
purchase.
B. Nonliability for Negligence, Loss, or Damage. Owner acknowledges,
understands and agrees that the relationship between Owner and the City is solely that of an
owner and an administrator of a City inclusionary housing program, and that the City does not
unde1take or assume any responsibility for or duty to Owner to select, review, inspect, supervise,
pass judgment on, or inform Owner of the quality, adequacy or suitability of the Prope1ty or any
other matter. The City owes no duty of care to protect Owner against negligent, faulty,
inadequate or defective building or construction or any condition of the Property and Owner
agrees that neither Owner, or Owner's heirs, successors or assigns shall ever claim, have or asse1t
any right or action against the City for any loss, damage or other matter arising out of or
resulting from any condition of the Prope1ty and will hold the City harmless from any liability,
loss or damage as set fmth in Section 22( c ). Any review by the City of any documents submitted
by the Owner to the City pursuant to this Agreement, including, but not limited to any purchase
and sale agreement for the Prope1ty, is solely to confitm compliance with the requirements of
this Agreement and shall not be deemed to be a representation of any kind of the validity or legal
enforceability of such document(s).
C. Indemnity. Owner agrees to defend (with counsel reasonably selected by the
City), indemnify, and hold the City hannless from all losses, damages, liabilities, claims, actions,
judgments, and costs, including expenses, and reasonable attorneys' fees that the City may incur,
as a direct or indirect consequence of: (1) Owner's default, performance, or failure to perf01111
any obligations as and when required by this Agreement, the City Note, or the City Deed of
Trust; or (2) the failure at any time of any of Owner's representations to the City to be true and
correct. This provision shall survive the termination or expiration of this Agreement, and the
reconveyance of the City Deed of Trust.
22. RESTRICTIONS ON FORECLOSURE PROCEEDS
If a creditor acquires title to the Property through a deed in lieu of foreclosure, a trustee's
deed upon sale, or othe1wise, the Owner shall not be entitled to the proceeds of sale to the extent
that such proceeds otherwise payable to the Owner when added to the proceeds paid or credited
to the creditor exceed the Maximum Restricted Resale Pdce. The Owner shall instrnct the holder
of such excess proceeds (in addition to other amounts due to the City pursuant to the City Note
and this Agreement) to pay such proceeds to the City in consideration of the benefits received by
the Owner through purchase of the Property under this Agreement.
23. RESTRICTION ON INSURANCE PROCEEDS
If the Property is damaged or destroyed and the Owner elects not to rebuild or repair the
Property, the Owner shall pay the City the po1tion of any insurance proceeds received by the
Owner for such destruction or damage which is in excess of the Maximum Restricted Resale
Price calculated pursuant to Section 14 above.
24. TERM OF AGREEMENT
All the provisions of this Agreement, including the benefits and burdens, rnn with the
land and the Prope1ty and this Agreement shall bind, and the benefit hereof shall inure to, the
Owner, his or her heirs, legal representatives, executors, successors in interest and assigns, and to
the City and its successors until the earlier of: (i) tl1irty (30) years from the date of recordation of
this Agreement in the Official Records; or (ii) the date of Transfer of the Prope1ty to the City or
another purchaser in compliance with this Agreement (including execution by the purchaser of a
new resale restriction agreement for the benefit of the City).
25. SUPERIORITY OF AGREEMENT
The Owner covenants that he or she has not, and will not, execute any other agreement
with provisions contradictory to or in opposition to the provisions of this Agreement hereof, and
that, in any event, this Agreement is controlling as to the rights and obligations between and
among the Owner, the City and their respective successors.
26. SUBORDINATION
Notwithstanding any other provision hereof, the provisions of this Agreement shall be
subordinate to the lien of the First Lender Loan and shall not impair the rights of the First
Lender, or the First Lender's successor or assign, to exercise its remedies under the First Lender
Deed of Trust in the event of default under the First Lender Deed of Trust by the Owner. Such
remedies under the First Lender Deed of Trust include the right of foreclosure or acceptance of a
deed or assignment in lieu of foreclosure. After such foreclosure or acceptance of a deed or
assignment in lieu of foreclosure, this Agreement shall be forever te1minated and shall have no
further effect as to the Property or any transferee thereafter; provided, however, if the holder of
such First Lender Deed ofTmst acquired title to the Prope1ty pursuant to a deed or assignment in
lieu of foreclosure, this Agreement shall automatically terminate upon such acquisition of title,
provided that: (i) the City has been given w1itten notice of default under such First Lender Deed
ofTmst; and (ii) the City shall not have cured or commenced to cure the default within such
thirty (30) day period and given its firm commitment to complete the cure in the fonn and
substance acceptable to the First Lender. Owner agrees to record any necessary documents to
effect such tennination, if applicable.
27. REFINANCEOFFIRSTLENDERLOAN
The outstanding principal on the City Note shall not be due upon prepayment and
refinancing of the First Lender Loan, and this Agreement and the City Deed ofTmst shall be
subordinated to the refinanced First Lender Loan, provided that: (i) such refinancing 'is approved
by the City; (ii) the amount refinanced does not exceed the outstanding p1incipal balance of the
First Mortgage at the time of refinance plus reasonable costs of refinance; and (iii) the refinance
does not result in higher monthly payments on the First Lender Loan than were due prior to the
refinance. Mortgage loans or equity lines of credit junim· in lien priority to the City Deed of
Tmst are not permitted. Owner acknowledges that such prohibition on junior liens was
granted in consideration for the receipt of the Homebuyer Loan on favorable tenns that have
assisted the Owner acquire the Property for Original Affordable Purchase Price, and that without
such fmancial assistance from the City, the Owner would not be able to pay the Original
Affordable Purchase P1ice, or othe1wise acquire the Property. The City and the Owner agree that
the requirements of this section are necessary to ensure the continued affordability of the
Property to Owner and to minimize the Iisk of loss of the Property by Owner through default and
foreclosure of mortgage loans. Owner further acknowledges that violation of the provisions of
this section shall constitute a Default under this Agreement. A f01m for use by the Owner in
requesting City subordination to a refmanced First Lender Loan is attached hereto as Exhibit F.
28. NONDISCRIMINATION
The Owner covenants by and for itself and its successors and assigns that there shall be
no discrimination against or segregation of a person or of a group of persons on account of race,
color, religion, creed, age, disability, sex, sexual oiientation, marital status, ancestry or national
origin in the sale, transfer, use, occupancy, tenure or enjoyment of the Property, nor shall the
Owner or any person claiming under or through the Owner establish or permit any such practice
or practices of discrimination or segregation with reference to the use, occupancy, or transfer of
the Property. The foregoing covenant shall run with the land.
29. RIGHTS OF BENEFICIARIES UNDER DEEDS OF TRUSTS
This Agreement shall not diminish or affect the rights of the City under the City Note and
the City Deed ofTmst.
Notwithstanding any other provision in this Agreement to the contrary, this Agreement
shall not diminish or affect the rights of the California Housing Finance Agency ("CalHFA"), the
United States Department of Housing and Urban Development ('1HUD11), the Federal National
Mortgage Association ("FNMA"), or the Veterans Administration (11VA11) under the First Lender
Deed of Trust or any subsequent First Lender deeds of tmst hereafter recorded against the
Property in compliance with Section 28 above.
30. HUD FORBEARANCE RELIEF
Notwithstanding other provisions of this Agreement, the Option shall not be exercised by
the City when a deed of trust insured by HUD is secured by the Property, and: (i) the Owner is
undergoing consideration by HUD for assignment forbearance relief; or (ii) the Owner is
undergoing consideration for relief under HUD's Temporary Mortgage Assistance Payment
(TMAP) program.
31. INVALID PROVISIONS
If any one or more of the provisions contained in this Agreement shall for any reason be
held to be invalid, illegal or unenforceable in any respect, then such provision or provisions shall
be deemed severable from the remaining provisions contained in this Agreement, and this
Agreement shall be constrned as if such invalid, illegal or unenforceable provision had never
been contained herein.
32. NOTICES
All notices required herein shall be sent by certified mail, return receipt requested or
express delivery service with a delivery receipt or personally delivered with delivery receipt
obtained and shall be deemed to be effective as of the date shown on the delivery receipt as the
date of delivery, or the date delivery was refused as indicated on the return receipt, or the date
Notice was returned as undeliverable as follows:
To Owner:
6172 Colt Place No. 103
Carlsbad, CA 92009
To the City: ,
City of Carlsbad
Housing & Homeless Services
1200 Carlsbad Village Drive
Carlsbad, CA 92008
The parties may subsequently change addresses by providing written notice of the change in
address to the other parties in accordance with this section.
33. INTERPRETATION OF AGREEMENT
The te1ms of this Agreement shall be interpreted so as to avoid speculation on the
Property and to insure to the extent possible that the m011gage payments remain affordable to
lower-income households. Owner acknowledges that, pursuant to this Agreement, in addition to
other rights of the City set f011h herein, the Owner has granted the City multiple options to
purchase the Property (as more pa11icularly set forth in Section 12 and Section 21), and that each
option to purchase is given in consideration of the economic benefits received by the Owner
resulting from ownership of the Prope11y made possible by the financial assistance provided by
the City to the Owner for the purchase of the Prope11y. This Agreement shall not be construed as
if it had been prepared by one of the parties, but rather as if both pai1ies had prepared it. The
parties have read and reviewed this Agreement and agree that any rnle of constrnction to the
effect that ambiguities are to be resolved against the drafting party (including but not limited to
Civil Code Section 1654 as may be amended from time to time) shall not apply to the
interpretation of this Agreement. In the event of any conflict between the terms of this
Agreement, and the tenns of the disclosure statement executed by the City and the Owner in
conjunction with this Agreement, the te1ms of this Agreement shall prevail.
34. CONTROLLING LAW; VENUE
The te1ms of this Agreement shall be interpreted under the laws of the State of California.
In the event any legal action is commenced to interpret or to enforce the terms of this Agreement
or to collect damages as a result of any breach thereof, the venue for such action shall be the
Superior Court of the County of San Diego.
35. ATTORNEYS1 FEES
In the event any action or proceeding in comt or other dispute resolution mechanism
pennitted under this Agreement is commenced by either party to inte1pret or enforce the terms of
this Agreement, the prevailing party therein shall be entitled to recover from the non-prevailing
paity all of the prevailing party's reasonable costs and expenses in connection therewith,
including on any appeal and including expert witness fees, document copying expenses, exhibit
preparation costs, carrier expenses and postage and communication expenses, and reasonable
attorneys' fees and costs for the services rendered to the prevailing party in such action or
proceeding (which shall include the reasonable costs for services of the City's in-house counsel).
36. TIME IS OF THE ESSENCE
In all matters under this Agreement, the parties agree that time is of the essence.
37. TITLE OF PARTS AND SECTIONS
Any titles of the aiticles, sections or subsections of this Agreement ai·e inse1ted for
convenience of reference only and shall be disregarded in constming or interpreting any part of
its provision.
3 8. EXHIBITS
Any exhibits refen-ed to in this Agreement are inco1porated in this Agreement by such
reference.
39. INTERPRETATION
Where the context requires herein, the singular shall be construed as the plural, and
neuter pronouns shall be constmed as masculine and feminine pronouns, and vice versa.
References in this Agreement to days shall be to calendar days. If the last day of any period to
give or reply to a notice, meet a deadline or unde1take any other action occurs on a day that is not
a day of the week on which the City of Carlsbad is open to the public for can-ying on
substantially all business :functions (a "Business Day"), then the last day for giving or replying to
such notice, meeting such deadline or unde1taking any such other action shall be the next
succeeding Business Day. In no event shall a Saturday or Sunday be considered a Business Day.
The use in this Agreement of the words "including", 11such as11 or words of similar imp01t when
used with reference to any general term, statement or matter shall not be constlued to limit such
statement, tenn or matter to the specific statements, terms or matters, unless language of
limitation, such as "and limited to" or words of similar import are used with reference thereto.
40. NON-WAIVER OF BREACH
Neither the failure of the City to insist upon strict perfonnance of any of the covenants
and agreements of this Agreement, nor the failure by the City to exercise any rights or remedies
granted to the City under the tenns of this Agreement shall be deemed a waiver or
relinquishment of: (i) any covenant contained in this Agreement, or of any of the rights or
remedies of the City under this Agreement; or (ii) the right in the future of the City to insist upon
and to enforce by any appropriate, legal remedy a strict compliance with all of the covenants and
conditions of this Agreement.
41. OWNER1S ACKNOWLEDGEMENT OF RESALE RESTRICTION
Owner hereby acknowledges and agrees that:
A. Owner hereby subjects the Property to the restii.ctions set forth above, and hereby
limits the price for which Owner may sell the Property and the persons to whom Owner may sell
the Prope1ty as set f01th above. The resale price limitation and other provisions contained in this
Agreement restrict the full benefits of owning the Prope1ty. Owner may not enjoy the same
economic or other benefits from owning the Prope1ty that Owner would enjoy if this Agreement
did not exist.
B. Owner acknowledges that the City provided the Homebuyer Loan to the Owner
because of the Owner's income eligibility, and the Owner fmther acknowledges that this
Agreement requires that the Property be made available to Eligible Purchasers at an affordable
price.
C. Owner understands all of the provisions of this Agreement. In recognition of the
acknowledgments and agreements stated in this Section, Owner accepts and agrees to the
provisions of this Agreement with the understanding that this Agreement will remain in full force
and effect as to the Property following any Transfer of the Prope1ty throughout the Tenn.
D. OWNER UNDERSTANDS THAT THE DETERMINATION OF THE
MAXIMUM RESTRICTED RESALE PRICE OF THE PROPERTY TO AN ELIGIBLE
PURCHASER CAN BE MADE ONLY AT THE TIME OF THE PROPOSED TRANSFER,
TAKING INTO CONSIDERATION INCREASES IN MEDIAN INCOME AND OTHER
FACTORS THAT CANNOT BE ACCURATELY PREDICTED, AND THAT THE SALES
PRICE PERMITTED HEREUNDER MAY NOT INCREASE OR DECREASE IN THE SAME
MANNER AS OTHER SIMILAR REAL PROPERTY WHICH IS NOT ENCUMBERED BY
THIS AGREEMENT OR SUBJECT TO THE CITY'S AFFORDABLE HOUSING RESALE
PROGRAM. OWNER FURTHER ACKNOWLEDGES THAT AT ALL TIMES IN SETTING
THE SALES PRICE OF THE HOME, THE PRIMARY OBJECTIVE OF THE CITY AND
THIS AGREEMENT IS TO IMPLEMENT THE CITY'S AFFORDABLE HOUSING RESALE
PROGRAM IN ORDER TO PROVIDE HOUSING TO ELIGIBLE PURCHASERS AT AN
AFFORDABLE HOUSING COST. THE MAXIMUM RESTRICTED RESALE PRICE
COULD BE LESS THAN OTHER SIMILAR PROPERTIES THAT HA VE NO
RESTRICTIONS. NOTWITHSTANDING SUCH LIMITATIONS AND RESTRICTIONS
IMPOSED ON THE PROPERTY PURSUANT TO THIS AGREEMENT, OWNER DESIRES
TO OBTAIN THE HOMEBUYER LOAN AND HA VE THE PROPERTY SUBJECT TO THIS
AGREEMENT.
42. COUNTERPARTS
,#ffl'l I r,..W'
(Initials of Owners)
This Agreement may be executed in multiple originals, each of which is deemed to be an
original, and may be signed in counterparts, which shall constitute one and the same agreement.
Remai11de1· of Page Left l11te11tio11ally Blank
IN WITNESS WHEREOF, the parties have executed this Agreement on or as of the date
first written above.
CITY:
CITY OF CARLSBAD, a municipal corporation
Dated: r ,
:~~
Moharnm~ Nfm Mehr
Dated: / f/2-2/7.,,0 Z--5
OWNER:
Madina Mehr
Dated: ,q-2 'Z -2 o 2-S:
(Proper notarial ack11owledgme11t of exec11tio11 11111st be attached)
SEE ATTACHED CERTIFICATE
ACKNOWLEDGMENT
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 San Diego
on October 30, 2025 before me, Shelby Nelson, Notary Public
(insert name and title of the officer)
personally appeared _S_h_e_i_la_C_o_b_i_a_n ____________________ _,
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 PENAL TY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
(Seal)
I 2 in 1 CERTIFICATION I
Pursuant to the provision of Government Code 27361.7, I certify under penalty of perjury
that the Notary Seal on the document to which this statement is attached reads as follows:
Name of Notary: Shelby Nelson
Commission No. 2529064
County where Bond is filed: San Diego
Commission expiration date: 8-31-2029
Manufacturer or Vendor No. NNAI
Pursuant to the provision of Government Code 27361.7, I certify under penalty of perjury
that the illegible portion of this document to which this statement is attached reads as follows:
Sheila Cobian, Assistant City Manager
Place of Execution: SAN DIEGO
Date: 11-4-2025 i
Signature: hct~~ ~
AGENT
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
A Notary Public or other officer completing this certificate rerifies 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 San Diego }
On ~(;{-OW ~d-• c9.ti:;_!j before me, C. Peterson, Notary Public,
personally appeared CC/tU!mmrd lturn P')ehr a.nd rr;o.c1.az fY)e,hr
who proved to me on the basis of satisfactory evidence to be the person(s) whose n~ is/are
subscribed to the within instrument and acknowledged to me thatlie7slre7they executed the same
in his/her/their authorized CJ!Pacity~s), and that by hi:siher/their signature{s) on the instrument
the P,erson(s)1.or the entity upon behalf of which the p~rson(~) acted, executed the instrument.
I certify under PENAL TY OF PERJURY under the laws of State of California that the foregoing
paragraph is true and correct.
eeeeeeeef C. PETERSON
Notary l'ubllc • California :
San Diego County i;
Comm!ss!on 112410814 -
V Comm. Expires Au118, 1026
PLACE! NOTARY SEAL ABOVE
WITNESS my hand and official seal.
SIGNATURE c_j)c........--
Though the information below is not required by law, it may prove valuable to persons relying on the document
and could prevent fraudulent removal and reattachment of this form to another document.
Description of attached document
'tie or e of doc ent: fY2 [ CA---h'tra es--h,-; ;ti
Document Date: 0(;--tc\o-er Q..O, Qb < Number of Pages: ______ _
Signer(s) Other than Named Above:_..S_h_~ ___ V>_b=----j y__._Q ___________ _
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
ADDRESS: 6172 Colt Place #103, Carlsbad, CA 92009
ASSESSOR PARCEL NO.: 213-262-22-18
A-1
For APN/Parcel ID(s): 213-262-22-18
EXHIBIT A
Legal Description
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
A CONDOMINIUM COMPRISED OF:
PARCEL 1:
AN UNDIVIDED FEE SIMPLE INTEREST AS A TENANT IN COMMON IN AND TO THE COMMON AREA IN THE
MODULE IN WHICH THE RESIDENTIAL UNIT DESCRIBED IN PARCEL 2 BELOW IS LOCATED EQUAL TO THE
RECIPROCAL OF THE NUMBER OF RESIDENTIAL UNITS LOCATED WITHIN SUCH MODULE, AS SHOWN ON THE
AMENDED AND RESTATED CONDOMINIUM PLAN FOR KENSINGTON AT THE SQUARE, RECORDED IN THE
OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, CALIFORNIA, ON JUNE 13, 2019, AS DOCUMENT
NO. 2019-230474, AND ANY AMENDMENTS OR SUPPLEMENTS THERETO (COLLECTIVELY "CONDOMINIUM
PLAN"), LOCATED IN A PORTION OF LOT 1 OF CARLSBAD TRACT NO. 14-09 UPTOWN BRESSI RANCH, IN THE
CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO.
16253, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 9, 2018 ("MAP").
PARCEL 2:
RESIDENTIAL UNIT NO. 18, AS SHOWN AND DESCRIBED ON THE CONDOMINIUM PLAN;
EXCEPTING FROM PARCELS 1 AND 2, ALL EASEMENTS RESERVED IN THE DECLARATION, CORPORATE
DECLARATION, AND EASEMENT, MAINTENANCE, AND COST SHARING DECLARATION (ALL DEFINED BELOW),
THE CONDOMINIUM PLAN, THE MAP, AND ALL OTHER EASEMENTS OF RECORD AS OF THE DATE HEREOF.
PARCEL 3:
AN EXCLUSIVE EASEMENT TO USE EACH PORTION OF THE ASSOCIATION PROPERTY, IF ANY, DESIGNATED IN
THE CONDOMINIUM PLAN AS BEING AN EXCLUSIVE USE EASEMENT AREA APPURTENANT TO THE
RESIDENTIAL UNIT DESCRIBED IN PARCEL 2 ABOVE FOR THE PURPOSES DESCRIBED IN THE DECLARATION.
PARCEL 4:
A NON-EXCLUSIVE TEMPORARY EASEMENT FOR PEDESTRIAN AND VEHICULAR ACCESS, INGRESS AND
EGRESS BY GRANTEE OVER, UPON AND ACROSS THE PRIVATE STREETS MORE PARTICULARLY DESCRIBED
AS STREET MODULE A, STREET MODULE B, STREET MODULE C, AND STREET MODULE 0, AS SHOWN ON THE
CONDOMINIUM PLAN, AND DESCRIBED IN THAT CERTAIN ACCESS EASEMENT GRANT DEED RECORDED IN
THE OFFICIAL RECORDS OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON SEPTEMBER 4, 2019 AS
DOCUMENT NO. 2019-380430, WHICH EASEMENT IS APPURTENANT TO THE RESIDENTIAL UNIT DESCRIBED IN
PARCEL 2 ABOVE.
PARCEL 5:
A NON-EXCLUSIVE EASEMENT, IN COMMON WITH OTHER OWNERS, FOR ACCESS, INGRESS AND EGRESS, IN,
TO, OVER, UNDER AND ACROSS CERTAIN PORTIONS OF THE ASSOCIATION PROPERTY DESCRIBED IN THE
DECLARATION, SUBJECT TO THE LIMITATIONS SET FORTH THEREIN, WHICH EASEMENT IS APPURTENANT TO
THE RESIDENTIAL UNIT DESCRIBED ABOVE AND A PUBLIC STREET.
EXHIBITB
FORM OF OWNER OCCUPANCY CERTIFICATION
NAME
ADDRESS
CITY
Re: 2024 Affordable Housing Owner Occupancy Certification
Per your Promissory Note requirements with the City of Carlsbad, please complete and return
this form and proof of resldene;r to our office or by postage paid envelope by March. 1, 2024.
By checking and signing below~ I/we hereby certi/}1 to the City of Corlsbad, under penalty of
p.e1jury1 that I/we occupy the home located at the address listed above os my/our principal place
of residence and that I/we occupy the home for at least 10 months of the calendar year.
□ I understand that the city may inspect tile property lf there is reason to believe the
owners are not occupying the property.
□ I understand leasing. subleasing, or renting any part of the property is strictly
prohibited and constitutes a default under this agreement.
As proof of residencv, I have included:
D A current copy of a utility biU with m'tr name and address or
□ A copy of mv driver's license witll my address.
Please list all household members residing in the home: _____________ _
~: Mi\:<Y-NG ;>t\!SS S1.4.TEMe.!l"S 1.5:. fELO\l\' UR!iERCf,LIFOfi:.,l,'.'ASTl\1£ !.AW fl'E"N.!tl. O::,;J,iSECT,otlS: llS,, ! 13, 11117, S:32l Ii. Ml\'f
;)Erul TIN tR"-\!IM,41. CHI\RGl:S Jr<CWDltlG Pt.~11Jiff,.Gf/Jlf~IJ 1HEH, HWIS f>\!SE DOCtl\lErfTS ,.v;r::.;; ,\ :'lJ3UC Ol'ff::E & OBTA"-'IIL'IIG
MO.l-.ln' UHDER FALSE PRE1Etl!.ES. [}.! I\Otl';lJOJ.1, '!J.'f,HO ST,!, TES C:OllE UltDER 'TITtE lS; SECTIOO tlllll STA!ES THAT' JI, F1:ll.'.;c« IS ~1.1. lY
•:lF A FELO'fl' FOR IU'iO\Vi:~G!. Y & WllUN•3W MAl:ltJG ;:.LSE STATEMWl!i 10 ,\ Vt' OEPMTME1ff 00 :t..mcv OF THE UIIIT:DSTAf!'S,.
Signature: Signature:
Print Name: Print Name:
Date: Date:
Email: Email:
Phone: Phone:
C-1
EXHIBITC
FORM OF OWNER'S NOTICE OF INTENT TO TRANSFER
To: City of Carlsbad ("City")
From: __________ I name of owner(s)] ("Owner(s)")
Property Address: ___________ ("Property")
Date:
Please be notified pursuant to Section 8 of the Resale Restriction Agreement and Option to
Pm-chase between Owner and City dated ______ that the Owner intends to transfer
the Property listed above.
A. The following infonnation is provided to the City pursuant to Section 8 of the Resale
Agreement:
I. Property Address:
2. Date Owner purchased Property:
3. Original Affordable Purchase Price:
4. Original amount of Homebuyer Loan:
5. Full Purchase Price:
6. Date Owner intends to vacate Property:
7. Contact info1111ation:
(name) (phone number) (email)
(name) (phone number) (email)
B. As required by Section 8 of the Resale Restriction Agreement, the following the HUD-1
Settlement Statement from Owner's pm-chase of the property is attached.
C-1
C. I have not listed the Property for sale with a multiple listing service, or contacted a
real estate broker or financial institution. I agree to prepare the Property for sale by:
1. obtaining a pest control report within thirty (30) days of the date of this notice;
2. repairing all damage noted in the pest report within the sooner of: (i) sixty (60)
days from the date of this notice; or (ii) two (2) weeks prior to close of escrow or
the transfer of the Property;
3. allowing the City or its designee to inspect the Property within thirty (30) days of
this notice;
4. maintaining utility connections until the Property is transfen-ed;
5. not removing any kitchen appliances p1ior to vacating the Property without the
City approving such removal; and
6. pe1mitting a walk through by the City prior to close of escrow or the transfer.
This Owner's Notice of Intent to Transfer is certified by Owner to be tme and c01Tect and is
signed on the date(s) below under penalty ofpe1jmy.
By:
Owner signature
Date:
By:
Owner signature
Date:
C-1
EXHIBITD
FORM OF CITY RESPONSE NOTICE
To: _________ (110wner(s)11)
From: City of Carlsbad (11 City11)
Address of Property: ___________ (11Prope1ty11)
Date:
Thank you for delivering the Notice of Intent to Transfer. This letter is the City Response Notice
described in Section 10 of the Resale Restriction Agreement that was recorded against title to
your home. The City:
1. __ City will check this Sentence #1 and complete other infmmation listed in #1 if the
City intends to exercise its option to purchase the Prope1ty or assign its option to the Prope1ty to
a Designated Purchaser at any point during the entire Te1m of Resale Restriction Agreement
A. Affordable Sales Price: $ -------
B. Amount owed on Homebuyer Loan: $ ________ _
C. Full Sales Price (add numbers in l(A) and l(B)): $ ____ _
D. Fair Market Value (as estimated by the City): $ _____ _
The Price for which you may sell your Prope1ty ( or the Maximum Restricted Resale
Price)
(The greater of l(C) and l(D)): $ ______ _
In connection with the City's Option, you will owe a$ ___ to City.
If the City has assigned its option, the name of Designated Purchaser is _____ _
The City or its Designated Purchaser will follow up with you to complete the sale of your
Property. If a Designated Purchaser purchases your Prope1ty, that designated purchaser may
assume the amount you owe on the Homebuyer Loan. If the City purchases your Prope1ty, the
D-1
amount you owe on the Homebuyer Loan shall be credited against the purchase price paid by the
City.
2. ___ City will check this Sentence #2 and complete other infonnation listed in #2 if
the City intends for Owner to sell the Property to an Eligible Purchase <luting years 1-30 of the
Resale Restriction Agreement.
A. Affordable Sales Price: $ -------
B. Amount owed on Homebuyer Loan:$ ________ _
C. Full Sales Plice (add numbers in l(A) and l(B)): $ _____ _
D. Fair Market Value (as estimated by the City):$ _____ _
The total price for which you may sell your Property ( or the Maximum Restricted Resale
Price) (the greater of l(C) and l(D)): $ ______ _
As noted in 2(B) above, the amount owed on the Homebuyer Loan is$ ____ . An
Eligible Purchaser is likely to assume the City Note and will tl1en agree to repay the
amount of the Homebuyer Loan.
You must market your Property to an "Eligible Purchaser" as required by Section 15 of
the Resale Restriction Agreement.
The Maximum Qualifying Income of Eligible Purchaser is:
___ Ve1y Low Income Household (50% of Area Median Income)
1 person household$ ______ _
2 person household $ _____ _
3 person household$ ______ _
4 person household$ ______ _
5 person household$ ______ _
6 person household$ -------
___ Low Income Household (80% of Area Median Income)
1 person household $ -------
D-2
2 person household $ ______ _
3 person household $ ______ _
4 person household $ ______ _
5 person household $ ______ _
6 person household $ -------
When you locate a proposed purchaser ofyom Property, you must provide the City with
the infonnation listed in Section 15(B) of the Resale Restriction Agreement and 15(D){l)
through (4). Upon sale of your Property to a proposed purchaser who has been approved by the
City as an Eligible Purchaser, you must provide the infmmation required by Section 15(0)(5)
through (7).
CITY:
Name: -------------
Title:
Date:
Designated Purchaser (if applicable):
Name: ____________ Name: ____________ _
Date: Date:
All questions regarding this notice should be directed to _________ _
D-3
EXHIBITE
FORM OF OWNER ACKNOWLEDGEMENT OF CITY RESPONSE NOTICE
Name:
Address of Property:
I (We), ____________ [insert name(s)J hereby aclmowledge that I (We)
received the City Response Notice (as described in Section 10 of the Resale Restriction
Agreement on ____ [insert date(s)].
By:
Owner signature
Date: _________ _
By:
Owner signature
Date:
E-1
To:
From:
EXHIBITF
FORM OF OWNER REQUEST FOR CITY SUBORDINATION
TO REFINANCED FIRST LENDER LOAN
Prope1ty Address:
City of Carlsbad ("City")
________________ ("Owner(s)")
________________ (11Prope1ty11)
The Owner hereby requests the City to approve the Owner's refinance of the existing first
mortgage on the Prope1ty. The Owner provides the following infonnation which it ce1tifies to be
true and con-ect:
1. Oliginal Affordable Purchase Price of Property: $ ______ _
2. Original Homebuyer Loan Amount
3. Full .Purchase Price of Property (1 plus 2) $ _____ _
3. Original principal balance of existing First Lender Loan: $ ______ _
4. Interest rate of existing First Lender Loan: $ ______ _
5. Outstanding principal balance of existing First
Lender Loan: $ -------
6. Monthly payments due on existing First Lender Loan $ ______ _
7. Principal amount of proposed new First Lender Loan: $ ______ _
8. Interest rate of Proposed new First Lender Loan: $ ______ _
9. Monthly payments to be due on new First Lender Loan: $ ______ _
The Owner hereby certifies the above infonnation is true and conect and this Owner(s) Request
is executed under penalty ofpe1jmy on the date(s) below.
By:
Owner signature Date
By:
Owner signature Date
F-1
Recording Requested by:
Fidelity National Title
San Diego Office
RECORDING REQUESTED PURSUANT
TO GOVERNMENT
CODE SECTION 27383
When Recorded Mail To:
City of Carlsbad
Housing Services Manager
1200 Carlsbad Village Drive
Carlsbad, CA 92008
DOC# 2025-0312748
111111111111 lllll 111111111111111111111111111111 IIIII IIIII IIIII IIII IIII
Nov 05, 2025 02:58 PM
OFFICIAL RECORDS
JORDAN Z. MARKS,
SAN DIEGO COUNTY RECORDER
FEES: $32.00 (SB2 Atkins: $0.00)
PAGES: 7
NOTICE OF AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY
(City of Carlsbad Affordable Housing Resale Program)
NOTICE IS HEREBY GIVEN, that the City of Carlsbad ("City11), has required Mohammad Nairn
Mehr and Madina Mehr, husband and wife as community prope1ty with right of survivorship
(11 Owner11) to enter into ce1tain affordability covenants and restrictions entitled, Affordability
Restrictions on Transfer of Property, Occupancy, and Refinancing Restrictions and Option to Purchase
("Restrictions11), with reference to certain real prope1ty located at 6172 Colt Place No. 103, Carlsbad,
CA 92009, San Diego County (11Property11), and further described in Exhibit A, incorporated herein by
reference.
The affordability covenants and restrictions contained in the Restrictions include without limitation
and as further desc1ibed in the Restrictions:
1. The Property is restricted for resale to a low-income household at a purchase price
affordable to a low-income household, except as set fmth in the Restriction.
2. The Owner must occupy the Property as the Owner's principal residence.
3. The Owner must give notice to the City before resale of the Prope1ty.
4. The Owner has granted the City an option to purchase the Prope1ty upon resale or default.
5. The Owner's rights to pledge the Prope1ty as security for a debt are limited.
In the event of any conflict between this Notice of Affordability Restrictions on Transfer of Prope1ty
(11Notice11) and the Restlictions, the tenns of the Restrictions shall prevail.
The Restrictions have been recorded concUITently herewith and shall remain in effect for thilty (30)
years commencing on the date of recordation of the Restrictions.
Jt Exempt from fee per GC27388.1 due to i being recorded in connection with
concurrent transfer that is subject to the
imposition of documentary transfer tax.
This Notice is being recorded and filed by the City of Carlsbad ("City") in compliance with Health and
Safety Code Sections 33334.5(£)(3) and (4) and/or Section 33413(c)(5), as amended effective this date,
and shall be indexed against the City and the Owner.
IN WITNESS WHEREOF, the parties have executed this Notice of Affordability Restrictions on
Transfer of Property on or as of the date first written above.
CITY:
Mohammad Nairn Mehr
Dated: ___ /_D_-~3Q~"'-Q>___,__C:S-__ _ Dated: _/_o---'/4'--2----=z/2~2-D __ 2_5 ___ _
2
OWNER:
~dinaMebr
Dated: ------""'{p;:__.-=7....::...2_-_..Zo==-=Z"'-'~------
(PROPER NOTORIALACKNOWLEDGEMENT MUST BE ATTACHED)
SEE ATTACHED CERTIFICATE
ACKNOWLEDGMENT
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 San Diego )
On October 30, 2025 before me, Shelby Nelson, Notary Public -----------(insert name and title of the officer)
personally appeared _S_h_e_il_a_C_o_b_ia_n ____________________ _,
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 PENAL TY OF PERJURY under the laws of the State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
(Seal)
I 2 in 1 CERTIFICATION I
Pursuant to the provision of Government Code 27361.7, I certify under penalty of perjury
that the Notary Seal on the document to which this statement is attached reads as follows:
Name of Notary: Shelby Nelson
Commission No. 2529064
County where Bond is filed: San Diego
Commission expiration date: 8-31-2029
Manufacturer or Vendor No. NNAl
Pursuant to the provision of Government Code 27361.7, I certify under penalty of perjury
that the illegible portion of this document to which this statement is attached reads as follows:
Sheila Cobian, Assistant City Manager
Place of Execution: SAN DIEGO
Date: 11-4-2025
1
/
Signature: hli@l ~~
AGENT
CALIFORNIA ALL-PURPOSE ACKNOWLEDGEMENT
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 San Diego }
....,,
On @ber !i.:J-, 2-D~ , before me, C. Peterson, Notary Public,
personally appeared /Y)OOOfhfY\O..d Natm hlehr ~ rrpcl,'roi tq-ehr
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 msfhcr/their authorized..capacity(ies), and that by hisAler/their signature(.s) on the instrument
the nerson( s ), or the entity upon behalf of which the ~ersonl§) acted, executed the instrument.
I certify under PENAL TY OF PER.ITJRY under the laws of State of California that the foregoing
paragraph is true and correct.
WITNESS my hand and official seal.
SIGNATURE 6/L--
PLACE NOTARY SEAL ABOVE
Though the information below is not required by law, it may prove valuable to persons relying on the document
'and could prevent fraudulent removal and reattachment of this form to another document.
Description of attached document
Title or re of doc~: flloh~ of l\ffird@(\ & &!IT 'ttm
~e;Jn, I~ ""-h1clcc w' :lhret/y
Document Date:. _______________ ---'Number of Pages: ______ _
Signer(s) Other than Named Above:-=S..:....Jht.=Ct.._,' \=m----=C---"b~b=t'u~n-1--------------
ASSESSOR PARCEL NO.:
EXHIBIT A
LEGAL DESCRIPTION
213-262-22-18
For APN/Parcel ID(s): 213-262-22-18
EXHIBIT A
Legal Description
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS:
A CONDOMINIUM COMPRISED OF:
PARCEL 1:
AN UNDIVIDED FEE SIMPLE INTEREST AS A TENANT IN COMMON IN AND TO THE COMMON AREA IN THE
MODULE IN WHICH THE RESIDENTIAL UNIT DESCRIBED IN PARCEL 2 BELOW IS LOCATED EQUAL TO THE
RECIPROCAL OF THE NUMBER OF RESIDENTIAL UNITS LOCATED WITHIN SUCH MODULE, AS SHOWN ON THE
AMENDED AND RESTATED CONDOMINIUM PLAN FOR KENSINGTON AT THE SQUARE, RECORDED IN THE
OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, CALIFORNIA, ON JUNE 13, 2019, AS DOCUMENT
NO. 2019-230474, AND ANY AMENDMENTS OR SUPPLEMENTS THERETO (COLLECTIVELY "CONDOMINIUM
PLAN"), LOCATED IN A PORTION OF LOT 1 OF CARLSBAD TRACT NO. 14-09 UPTOWN BRESSI RANCH, IN THE
CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO.
16253, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, MARCH 9, 2018 ("MAP'').
PARCEL 2:
RESIDENTIAL UNIT NO. 18, AS SHOWN AND DESCRIBED ON THE CONDOMINIUM PLAN;
EXCEPTING FROM PARCELS 1 AND 2, ALL EASEMENTS RESERVED IN THE DECLARATION, CORPORATE
DECLARATION, AND EASEMENT, MAINTENANCE, AND COST SHARING DECLARATION (ALL DEFINED BELOW),
THE CONDOMINIUM PLAN, THE MAP, AND ALL OTHER EASEMENTS OF RECORD AS OF THE DATE HEREOF.
PARCEL 3:
AN EXCLUSIVE EASEMENT TO USE EACH PORTION OF THE ASSOCIATION PROPERTY, IF ANY, DESIGNATED IN
THE CONDOMINIUM PLAN AS BEING AN EXCLUSIVE USE EASEMENT AREA APPURTENANT TO THE
RESIDENTIAL UNIT DESCRIBED IN PARCEL 2 ABOVE FOR THE PURPOSES DESCRIBED IN THE DECLARATION.
PARCEL 4:
A NON-EXCLUSIVE TEMPORARY EASEMENT FOR PEDESTRIAN AND VEHICULAR ACCESS, INGRESS AND
EGRESS BY GRANTEE OVER, UPON AND ACROSS THE PRIVATE STREETS MORE PARTICULARLY DESCRIBED
AS STREET MODULE A, STREET MODULE B, STREET MODULE C, AND STREET MODULE 0, AS SHOWN ON THE
CONDOMINIUM PLAN, AND DESCRIBED IN THAT CERTAIN ACCESS EASEMENT GRANT DEED RECORDED IN
THE OFFICIAL RECORDS OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON SEPTEMBER 4, 2019 AS
DOCUMENT NO. 2019-380430, WHICH EASEMENT IS APPURTENANT TO THE RESIDENTIAL UNIT DESCRIBED IN
PARCEL 2 ABOVE.
PARCEL 5:
A NON-EXCLUSIVE EASEMENT, IN COMMON WITH OTHER OWNERS, FOR ACCESS, INGRESS AND EGRESS, IN,
TO, OVER, UNDER AND ACROSS CERTAIN PORTIONS OF THE ASSOCIATION PROPERTY DESCRIBED IN THE
DECLARATION, SUBJECT TO THE LIMITATIONS SET FORTH THEREIN, WHICH EASEMENT IS APPURTENANT TO
THE RESIDENTIAL UNIT DESCRIBED ABOVE AND A PUBLIC STREET.