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HomeMy WebLinkAbout; Join Hands Save A Life; 2001-0436158; PropertyRECORDING REQUESTED BY: City of Carlsbad WHEN RECOROED MAIL TO: OOC # 2001-0436158 JUN 279 2001 2548 FM OFFICIEV mm !M DIEGO COUNTY REMRDER'S MICE UlffORl J. SnITHt WTY RECORMR FEES: 0.00 13226 MY: 2 City of Carlsbad City Clerk's Office Ih Ain: City Clerk 1200 Carlsbad Village Drive Carlsbad CA 92008 ~ ;, . . .~ . . , , ,j . il;..:.~;,?? c-* , I ~ i_ ~, . ~. ?~", ~ ,. _.*. ,, ..j . ,. ,. ,,, .:. .. .. , . .,'. #. , I '. , '. . ~ ~ . ". ~ ~> ~ (Space above for Recordets Use) ,.. .. ', ._" , .:, , . ,, ,j _j .*,I . , ?.', e.,' A*,,' ,. ' _I, beneficiary. _i, ,' nsi&r@tion of the promises hereikrecited and 6i6ti rkfers, co6veys and assigns to the TruGtee; in tru$t,Mh $iCyliif of sale, the e $iFy of Catlhd, State of California, identifig'as l!jts:264.081-08,204- the Village Redevelopment Area of the City 'of Cark xh&it.''A'' [the "Property"). TOGETHER..WtTk,d ea $xturc& riow 6r hereafter a part of the property, all of whictii:mclu ions thereto, shall be deemed to be and remain a part of the prapbrty c by thiSecuiity Inshukt; and, ,' TO SECURE to the City & >e !lt of thd- executed by the Borrower to the City dated .' '25 eddenced by a promissory note sum of eighty thousand dollars ($80,000) (the "Note"). ,200L the principal TO SECURE to the City the payment of all other sums, with interest thereon, advanced in accordance herewith to protect this Security Instrument; and the performance of the covenants and agreements of Borrower herein contained; and, TO SECURE the performance of any obligations of Borrower in any other agreements with whether or not Beneficiary is a party to such agreements. respect to the financing of the Property, the failure of which would adversely affect Beneficiary, 13227 BORROWER AND THE CITY COVENANT AND AGREE AS FOLLOWS: 1. Borrower's Estate. That Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property, that other than this Security Instrument, the Property is unencumbered. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any declarations, easements or City's interest in the Property. restrictions listed in a schedule of exceptions to coverage in any title insurance policy insuring the contains the following provisions connection wit 34ncome families. whichever occursfirst: .. ._ promptly furnish to the makes these payments directly, Borrower shall promptly furnish to the Ci rkeeipts evidencing the payments. Borrowef.sh&l pkim&y any other lien whie Security Instrument Mnless .@br 1) agrees in wfiwrs secured by the lien in a MtW acceptable to the City; (2) contests defends against enforwent of the,lien in, legal proceedings which i to prevent the enforcement 6f the lien; ,or (3) secures from the holder of the Iten an agreement satisfactory to the City subordinati,n$the lien to this Secwity in M'the City determines that any part of the Propew is subject to a lien which-nxiy a rity over this Security lien or take one or more of the actiis serforth above withii,l-O.d&ys of the giving of notice. Instrument, the City may give Borrower a notice,identifying, the wer shall satisfy such 4. Hazard or Property Insurance: 'Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which the City requires insurance. This insurance shall be maintained in an amount equal to the replacement cost of the Property and for the periods that the City requires. The insurance carrier providing the insurance shall be licensed to do business in the State of California and be chosen by Borrower subject to the City's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, the City may, at the City's option, obtain coverage to protect the City's rights in the Property in accordance with Section 6. All insurance policies and renewals shall be acceptable to the City and shall include a standard mortgagee clause with standard lender's endorsement in favor of the Deed of Trust and the City as their interest may appear and in a form acceptable to the City. The City shall have the -2- 13228 right to hold, or cause its designated agent to hold, the policies and renewals thereof, and Borrower shall promptly furnish to the City, or its designated agent, the original insurance policies or certificates of insurance, all renewal notices, and receipts of paid premiums. In the event of loss, Borrower shall 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 thirty days advance notice of cancellation of any insurance policies required under this Section. Unless the City and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the City's security is not thereby impaired. If the restoration or repair is not economically feasible or the City;s insurance proceeds shall whether or not then due, w does not answer within 30-4 a noti carrier has offered insurance proceeds. secured by this Semrity'ln the notice is given. .. y, Presetvation, &tk necessary pe Property as a ,yolith facility and maintain the pro permits. Bomwer shdl not destroy, damage or impair th deteriorate, or Commit waste on the Property. Borrower shall be in breach'# any forfWre action or proceeding, whether divil or criminal, is begun that in the City's goad faith &dgjgmerlV,&uld result in forfeiture of the Property or .otherwise materially impair the lien CIW@ by Wk Security Instrument or the City's security.interest. Borrower may cure such a provided in Section 18, byMVsing the action or proceeding tdbe dism the City's good faith ttelefmtion, precludes forfeiture of the Borrowe or other material impairment-oi 'the lien created by this Security Instrument .W the City's security interest. . .,,, -fails to perform the on or proceeding is , including but limited to breach under any other deed of ent domain, insolvency, or decedent, then the , may make appearances, disburse such sums and take such actions at it deems necessary to protect the value of the Property and the City's rights in the Property. The City's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Any amounts disbursed by the City pursuant to this Section shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and the City agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the lesser of ten percent (10%) or the highest rate permissible under applicable law and shall be payable, with interest, upon notice from the City to Borrower requesting payment. Nothing contained in this Section will require the City to incur any expense or take any action hereunder. -3- 13229 7. Inspection. The Ci or its agent may make reasonable entries upon and inspections of the Property. the City shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 8. 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. 9. Remedies Cumulative. All remedies provided in this Security Instrument are distinct and cumulative to any other right or remedy under this Security Instrument or any other document, or afforded by law or equity, and may be exercised concurrently, independently, or successfully. 10. Success and agreements of this ective successors and assigns of the City and another manner, or expess' &tivery service With a pt obtained, and shall be deenWkto .b;e* date the notice was mturnsd as undeliverable. Notices shall& dir$cted as follows: .. ,. ,. .. .. , ., ,..' :, . . ,.I). ' ' , , ., ., I. ., ,, .,,..' ,, ,, < ~, , ,. . . .I, , , ,, ,,i/ . .',' , , I ''~' ; ~ .,', . . I '. ,. , .., ., ,, .~ ~ ~>(( ,' . , , ,., ' , ., ,. ' ~ I .. . ,. ~. . ,; ' .. ,, .. ,, ,. . ., , . ,, ,. , .. *;.',>;;;*..~. j,. ~ ' ,. The parties may subsequently change addresSes by providing written notice of the change in address to the other party in accordance with this Section. 12. Governing Law. This Security Instrument shall be construed in accordance with and be governed by the laws of the State of California. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 13. Severability. In the event that any provision or clause contained in this Security Instrument or the Note shall for any reason be held to be invalid, illegal or unenforceable in any respect, then such provision or clause shall be deemed severable from the remaining provision, -4- 36 13230 and this Security Instrument and the Note shall be construed as if such invalid, illegal, be severable. 14. Captions. The captions and headings in this Security Instrument are for convenience only and are not to be used to interpret or define the provisions hereof. 15. Default; Remedies. Upon the Borrower's breach on any covenant or agreement of the Borrower in this Security Instrument, including, but not limited to, the covenants to pay, when due, any sums secured by this deed of Trust, the City, prior to acceleration shall give notice to Borrower specifying: (1) the breach; (2) if the breach is curable; (3) the action required to cure the breach; (4) a date, not less than 30 days from the date the notice is given to Borrower by which the breach must be cured; a@ the breach on or before the date specified in Security Instrument and salg. Borrower of the right to reinstate after acceleratibd default or any other we&$ of,8 the Borrower on or befofe-wle require immediate.payme&h MI of allsums senned:by without further demand and may.invoke the paver of sale and any.athe (b) either in pew or by ageM, with or without bringirig'any action otproceeding,.v by a receiver appointed by a Wurt, and dt,hout regard to the adequacy of its securify, en?& up6n the Property, in its own name 6t in the ,name of the Trustee, and do any acts which it dee desirable to preserve the @he or marketability of'the Property, or part thereof Minterest therein, increase the income therefrom or protect the security thereof. The entering upoc and taking possession of the Property shall not cure or waive any breach hereunder or Mvalldate any act done in response to such breach and notwithstanding the continuance In possession of the Property, the Ci shall be entitled to exercise every right provided for in thn.Secoiriy Instrument or by law upon occut'mce.of any uncured breach, including the rght to exercise fhe power of sale; (c) commence mi action to foreclose this Security Instrument as a mortgage, appoint a receiver, or specifically enf&ce any of the covenants hereof; (d) deliver lo the TNstee a written declaration of defalt aruf.dernand for sale, pursuant to the provisions for notice @.sale found at California Civil Code:Wions 2924, w., as amended from tie.to time; or (e) exercise all other rights and remedies proVided herein, in the instruments by which the Borrower acquires title to any Property, or in any other docurdnt dr agreement &w or hereafter evidencing, creating or securing all or any portion of the obligationsskured hereby, or provided by law. The City shall be entitledto 3~ reasOnaab .ahd expenses incurred in pursuing the remedies provided in this Section, including, bbt not'li to, reasonable attorney's fees. 16. Acceleration. Upon the occurrence of a default under the Note, or this Security Instrument, the City shall have the right to deciare the full amount of the principal 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 and this Security Instrument. 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 shared appreciation owed. 17. Borrower's Right to Reinstate. Notwithstanding the City's acceleration of the sums secured by this Security Instrument, Borrower shall have the right to have any proceedings begun by the City to enforce this Security Instrument discontinued at any time prior to the earlier of: (1) 5 days before sale of the Property pursuant to any power of sale contained in this Security -5- 37 13231 Instrument; or (2) entry of a judgment enforcing this Security Instrument if Borrower: (a) pays the City all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any breach of any other covenants or agreements of the enforcing the covenants and agreements of this Security Instrument, including, but not limited to, Borrower contained in this Security Instrument; (c) pays all reasonable expenses incurred in assure that the lien of this Security Instrument, the City's rights in the Property and Borrower's reasonable attorneys' fees; and (d) takes such action as the City may reasonably require to obligation to pay the sums secured by this Security Instrument shall continue unimpaired. Upon such payment and cure by Borrower, this Security Instrument and the obligations secured hereby shall remain in full force and in effect as if no acceleration had occurred. 18. Reconveyance. drecordation, if any. stances. Borrower shall not caus f Any-Hazardous'SubSanms on or inth not do, nor adow anyone'else to do, anything afktitig the Prdpe Environmental, Law. ' Thft preceding two sentenoes shall not ap storage on the Property of small quantities of Hazardous SubGtanoes that are generally recognized to be appropiate to normal residential-uses and to maintenance of the Prop@rty. Borrower, Shall Ciromptly ghre the City written lawsuit or other awn by my g~emmental or regul Property and any Iiaqrdous, Substatirre or Envlron knowledge. If Borrower leanls, or is Mified by any g removal or other rhediation 'ofilny Hazardous Substance affeqn Borrower shall promptly take necessary remedial actions in accbrdanoe Wth Environmental Law. Prior to taking any s,mh remedial adin, however; Bonhr shall notifythe City that such remedial action is necessary and shall'obtairl the City's prior written consent for such remedial action. Ill Ill Ill Ill Ill Ill -6- 38 13232 As used in this Section, "Hazardous Substances" are those substances defined as toxic or hazardous substances by 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. As used in this Section, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. IN WITNESS WHEREOF the parties hereto have caused this agreement to be executed as of the day and year first written above. JOIN HANDS-SAVE A LIFE, a non-pr ., , * ". ,. . ..._',,'. . ,, . _1 "I. ~ _I ', ,,. . -7- 39 13233 Description of attached document 6 4 l-& Z ad'. SCvrr fr State of California 1 County of San Diego 1 On /Z,.p. \ 10,. 300 I Before me, Gary S. Nessim, Notary Public, personally appeared F@ h(C 50 n IO , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/w+-wbscribed to the within instrument and acknowledged to me that helskekkey executed the same in his/hekltSleir authorized capacity(ies), and that by hiswignature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. 0 Signatu (Seal) YO EXHIBIT A Legal Property Description The land is situated in the State of California County of San Diego 13234 -8-