HomeMy WebLinkAboutCUP 82-03; JEFFERSON HOUSE; 84-071757; Property8.
.L ' WRITE IT-DON'T SA1 rn I' INTER-DEPARTMENT MEMORANDUM
A. M.
P. M.
REPLY ON THIS SHEET FROM
w ILM ER 'SERVICE" UrrE STANDARD INTER DEPT. MEMO FORM 11 -24-PD
COUNTY OF SAN DIEGO
VERA L. LYLE
RECORDER
1600 PACIFIC HIGHWAY
P.O. BOX 1750
SAN DIEGO, CALIFORNIA 92112
(61 9) 236-2695
I
ANNETTE EVANS
CHIEF DEPUTY
Recojding ~eguested by and -
1200 Elm Avenue
Carlsbad, CA 92008
- RetLdmTb: ,City Clerk
PROMISSORY NOTE
EXHIBIT 2
$765,440.00 Carlsbad, California December 19 ,1983
FOR VALUE RECEIVED, the undersigned promises to pay to the City of Carlsbad at Carlsbad, California, the sum of $765,440.00 with interest at the rate of ten percent (10%) per annum
simple interest until paid or cancelled as herein provided.
This note is given to the City of Carlsbad pursuant to Section 21.18.045 of the Carlsbad Municipal Code to insure that the maker hereof constructs, operates and maintains the property described in the deed of trust secured hereby as a Senior Citizen Housing Project in accordance with the requirements of said Section and Conditional Use Permit 82-3, or if no so constructed,
operated and maintained, that the property is brought up to the standards of the approved conversion plan pursuant to CUP 82-3 or
any other conversion plan approved by the City of Carlsbad.
No payment shall be required on this note except as follows:
1- If the Council of the City of Carlsbad or any successor
thereto determines that the property is being operated or main-
tained in violation of any of the terms of said Section 21.18.045
or said Conditional Use Permit 82-3, or used for other than a
Senior Citizens Housing Project without the consent of the City
Council, the City Council may declare the whole sum of principal and any accrued interest thereon immediately due and payable. The maker hereof shall then have the option to elect to pay said principal and accrued interest in full or within a reasonable time thereafter to convert the project to meet the approved conversion plan pursuant to CUP 82-3 or any other conversion plan approved by the City of Carlsbad. Upon said payment in full or conversion of the project to the approved conversion plan pursu- ant to CUP 82-3 or any other conversion plan approved by the City of Carlsbad, the City of Carlsbad shall return this note to the maker and reconvey the lien of the deed of trust securing this note
2. The entire principal and accrued interest thereon shall become immediately due and payable at the option of the City of
Carlsbad in the event that upon the sale, conveyance or other
disposition of the property described in the deed of trust securing this note, the buyer fails to agree in writing to accept
and abide by all the terms and provisions of this promissory
note
The maker hereof shall have the right at any time to prepay all or any part of this note or to elect to convert the property to meet the approved conversion plan pursuant to CUB 82-3 or any other conversion plan approved by the City of Carlsbad. Upon prepayment in full or such conversion of the property, this Note shall be cancelled and the lien of the deed of trust securing this Note shall be reconveyed to the maker hereof.
This note is given solely to conform with the provisions of said Section 21.18-045 of the Carlsbad Municipal Code and neither the maker nor any partner, officer, agent or employee of the maker shall have personal liability for payment of this note. The holder hereof shall look only to its interest in the property secured hereby for payment.
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If action be instituted on this note, the undersigned
promises to pay such sum as a court may affix as attorneys' fees.
This note is secured by a deed of trust to Ticor Title Insurance
Company of America, a California corporation, as Trustee.
JEFFERSON HOUSE, a General
Partnership
By :
Managing G FYal Partner
CAT. NO. "00630
TO 1946 CA (7-82)
(Partnership)
STATE OF CALIFORNIA
COUNTYOF SAN /&GO
rmE INSURANCE AND TRUST
the undersig d, a Notary Public in and for a. a-ck I
On
, personally known to me or 1
_I moved to me on the basis of satisfactorv evidence to be
gWilgjFon who ex uted the within instrument as -' P'&&e partners of the partnership
that executed the within instrument, and acknowledged
to me that such partnership executed the same.
WITNESS my hand and official seal.
ORlCIAL SEAL
JMlEs w. JTcsSuP
NOTARY PUBLIC CALIFOR"IA
CRlNClPAL OFFICE IN
SAN DIE00 COUNTY
(This area for official notarial seal) I
t* ' ** a . - (b1$)"1
ir RECORDING REQUESTED BY
City Clerk City of Carlsbad
a%F071'7Sy I" 7" ,,.. r: _. .. . -".-.__.
>IC., .... 7:,:-::? ::: Q8r/.-/c//<!- ;;,: :'" '. i ,...?-,:' OF' Sf<!.! ;,:ci?J ,j;:,;; & 1
1200 Elm Avenue
Carlsbad, CA 92008 I @o$ F@, 28 pi;; 1: lis
, ," - b - p il. j I ',.. ;- 1 Cfil I:; .T it <f !;-,: :,.: .. ; -"'I* I . :-::.';',);: :.; i AND WHEN RECORDED MAIL TO """_ 1
City Clerk
1200 Elm Avenue r City of Carlsbad 1
Name
Street
Address Caclsbad, CA 92008
City &
State L _I
SPACE ABOVETHIS LINE FOR RECORDERS USE - SHORT FORM DEED OF TRUST AND ASSIGNMENT OF RENTS A~N. 203-352-05, G
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THIS DEED OF TRUST made this SUBORDINAT$X)oDEED OF TRUST December ,191 I9g3 '
JEFFERSON HOUSE, a General Partnership
XX~&"~~h&ZhXdh~~ , herein called T
whose address is 562 0 Friars Road, San Die 0, California 92:
TlCOR TITLE INSURANCE COMPANY OF CALIFORNIA, a California corporation, herein called TRUSTEE, and.
(number and street) (city? (state) (zip)
THE CITY OF CARLSBAD , herein called B'
WITNESSETH: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH P(
SALE, that property in the City of Carlsbad, San Diego County, California, des
Lots 1 through 8 inclusive in Block 57 of the Town of Carlsbad in the City of
Carlsbad, Comty of San Diego, State of California, according to Map thereof
775 on file in the Office of the County Recorder of said County.
See Ekhibit "A" attached hereto and incorporated herein for additional provis to this Deed of Trust
TOGETHER WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority given to and coni
Beneficiary by paragraph (IO) of the provisions incorporated herein by reference to collect and apply such rents, issues and profits.
FOR THE PURPOSE OF SECURING: 1. Performance of each agreement of Trustor incorporated by reference or contained herein. 2.
the indebtedness evidenced by one promissory note of even date herewith, and any extension or renewal thereof, in the prin( $765,44O*OO executed by Trustor in favor of Beneficiary or order. 3. Payment of such further sums as the then record o
property hereafter may borrow from Beneficiary, when evidenced by another note (or notes) reciting it is SO secured.
TO PROTECT THE SECURITY OF THIS DEED OF TRUST TRUSTOR AGREES: By the execution and delivery of this Deed of Trust i
secured hereby, that provisions (1) to (14). inclusive, of the fictitious deed of trust recorded in Santa Barbara County and Sonoma Count)
1961, and in all other counties October 23,1961, in the book and at the page of Official Records in the office of the county recorder c
where said property is located, noted below opposite the name of such county, viz.:
COUNTY BOOK PAGE COUNN BOOK PAGE COUNTY BOOK PAGE COUNTY
Alameda 435 684 Kings 792 833 Placer 895 301 Sierra
Alpine 1 250 Lake 362 39 Plumas 151 5 Siskiyou
Amador 104 348 Lassen 171 471 Riverside 3005 523 Solano
Butte 1145 1 Los Angeles T2055 899 Sacramento 4331 62 Sonoma
Calaveras 145 152 Madera 810 170 San Benito 271 383 Stanislaus
Colusa 296 617 Marin 1508 339 San Bernardino 5567 61 Sutter
Contra Costa 3978 47 Mariposa 77 292 San Francisco A332 905 Tehama
Del Norte 78 414 Mendocino 579 530 San Joaquin 2470 31 1 Trinity
El Dorado
4626 572
568 456 Merced 1547 538 SanLuisObispo 1151 12 Tulare
Fresno Modoc 184 851 San Mateo 4078 420 Tuolumne
Glenn 422 184 Mono 52 429 Santa Barbara 1878 860 Ventura
Humboldt 657 527 Monterey 2194 538 Santa Clara 5336 341
1091 501
Yolo
Imperial Napa 639 86 Santa Cruz 1431 494 Yuba
lnyo 147 598 Nevada 305 320 Shasta 684 528
Kern 3427 60 Orange 5889 611 San Diego Series 2 Book 1961, Page 183887
(which provisions, identical in all counties, are printed on the reverse hereof) hereby are adopted and incorporated herein and made8 I
fully as though set forth herein at length; that he will observe and perform said provisions; and that the references to property, ob
parties in said provisions shall be construed to refer to the property, obligations, and parties set forth in this Deed of Trust.
hereinbefore set forth.
The undersigned Trustor requests that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to him i
Signature of Trustor mN HWSE, a
mm-
at such corporation exec bylaws or a resolution of its boa 6
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c DO NOT RECORD
I The following is a copy of.provisions (1) to (14!, inclusive, of the fictitious deed of trust, recorded in each county in California, as stated in the foregoing Deed of Trust ar Incorporated by reference In satd Deed of Trust as bemg a part thereof as if set forth at length thereln.
TO PROTECTTHE SECURITY OF THIS DEED OF TRUST, TRUSTOR AGREES:
(1) To keep said property in good condition and repair; not to remove or demolish any building thereon: to complete or restore prom tly and in good and workmanlike mann any building which may be constructed, damaged or destroyed thereon and to paywhen due all clams for labor performed and materials Lrnished therefor; to complywith all lab
affecting sad property or requiring any alterations or iwovements to be made thereon; not to commit or permit waste thereof- not to commit suffer or permit any act upon sai property in violation of law; to cultivate irrigate fertilize, fumigate, prune and do alt other acts which from the character or use br said propert; may be reasonably necessary, th specificenumerations herein not exoludfng the deneral.
maybeappliedbyBeneficiaryuponanyindebtednesssecuredherebyandinsuchorderasBeneficiarymaydetermine,oratoptionofBeneficiarytheentireamountsocollectedoran (2) Toprovide.maintainanddeliver~oBeneficia~fireinsurancesatisfacton/toandwithlosspayabletoEeneficiary.TheamountcoIlectedunderanyfireorotherinsurancepolic
parrthereofmaybereleasedtoTrustor.Suchapplicationorreleaseshallnotcureorwaiveanydefaultornoticeofdefaulthereunderorinva1idateanyactdonepursuanttoSuchnotice.
(3) To appear in and defend any action or proceeding purporting to affectthesecurity hereof or the rights orpowers of Beneficiary orTrustee. and to pay all costs and expense including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may'appear, and in any suit brought b Beneficiary toforeclosethis Deed.
ances. charges and liens, with interest, on said properly or any partthereof, which appear to be prior or superior hereto; all costs, fees and expenses of this &st. 14) To pay: at least ten days before delinquency all taxes and assessments affecting said property including assessments on appurtenant water stock. when due, all incumb
Trustor and without releasing Trustor fromany obligation hereof, may: make or do the same in such manner and to such extent as either may deem necessary to protect the securit Should Trustor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but without obligation so to do and without notice to or demand up0
hereof, BeneflciaryorTrustee being authorwedtoenterupon said property forsuch purpose: appear in anddefend anyaction orproceeding purporting toaffectthesecurityhereofc the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any incumbrance, charge or lien which in the judgment of either appears to be prior or superiot hereto: and, in exercising any such powers, pay necessary expenses. employ counsel and pay his reasonable fees.
(5) To pay immediately and without demand all sums so expended by Beneficiaryor Trustee, with interestfrom date of expenditureattheamount allowed by law in effect at thf date hereof, and to pay for any statement provided for by law in effect at the date hereof regarding the obligation secured hereby any amount demanded by the Beneficiary not tc exceed the maximum allowed by law at the time when said statement is demanded.
(6) That any award of damages in connection with any condemnation for public use of or injury to said property or any part thereof is hereby assigned and shall be paid t( Beneficiary who may apply or release such moneys received by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or othe Insurance.
secured or to declare default for failure so to pay. (7) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right either to require prompt payment when due of all other sums s(
(8) That at any time or from time to time, without liability therefor and without notice, upon written request of Beneficiary and presentation of this Deed and said note fo
themaking of any map or plat thereof; join in granting any easementthereon; or join in any extension agreement or any agreementsubordinating the lien or charge hereof. endorsement, and without affecting the personal liability of any person for payment of the indebtedness secured hereby, Trustee may: reconvey any part of said property; consent tc
(9) That upon written request of Beneficiary stating that all sumssecured hereby have been paid, and upon surrender of this Deed and said note to Trustee for cancellation an(
conclusive proof of the truthfulness thereof. The grantee in such reconveyance rnay be described as "the person or persons legally entitled thereto." Five years after issuance of such retention and upon payment of its fees, Trustee shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters or facts shall bL
full reconveyance, Trustee rnay destroy said note and this Deed (unless directed in such request to retain them). (IO) That as additional security Trustor hereby gives to and confers upon Beneficia the right power and authority, during thecontinuance ofthese Trusts, to collectthe rents, issues and profits of said property, re'serving unto Trustor the right, priorto any default byXustorm p'ayment of any indebtednesssecured hereby or in performance of any agreement
hereunder,to collect and retain such rents, issues and Profits as they become due and payable. Upon any such default, Beneficiary may at any time without notice, either in perSon, b,, agent, Or by a receiver to be appointed by a court. and without regard to the adequacy pf any security for the indebtedness hereby secured. enter upon and take possesston of sald property or any pan thereof, in his own name sue for or otherwtse collect such rents, Issues and proflts lncludlng those past due and unpatd and apply the same less costs and expensesofoperationandcollection,including reasonableattorney'sfees,upon any indebtednesssecured hereby andinsuchorderasBeneficia&maydetermine. Thkentering upon and taking possession of said property, the collection of such rents, issues and profits and the application thereofis aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuantto such notice.
(11) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder Beneficia may declare all sums secured herebyimmediatelydueandpayablebydeliverytoTrusteeofwri~endeclarationofdefaultanddemandforsaleandofwrittennoticeofd~faultando~electiontocausetobesoldsaid property, which noticeTrustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee this Deed, said note and all documents evidencing expenditures secured hereby.
After the lapse of such time as may then be required by law followin the recordation of said notice of default and notice of sale having been given as then required by law Trustee withoutdemandonTrustor.shallsel1saidpropertyatthetimeandplace~ixedbyitinsaidnoticeofsale eitherasawholeorinseparateparcels andinsuchorderasitmaydetehine ai public auction to the highest bidder for cash in lawful money of the United States. payable at time oisale. Trustee may postpone sale of all br any portion of said property by pudlic announcement at such time and place of sale. and from time to time thereafter may postpone such sale by public announcement at the time fixed by the preceding postponement.
factsshall beconclusive proof of the truthfulness thereof. Any person, including Trustor. Trustee, or Beneficiaryas hereinafter defined, rnay purchase at such sale. Trustee shall deliver to such purchaser its deed conveying the property so sold, but without any covenant or warranty express or implied. The recitals in such deed of any matters or
After deducting all costs fees and expenses of Trustee and of this Trust including cost of evidence of title in connection with sale Trustee shall apply the proceeds of sale to payment of: all sums expended under the terms hereof, not then repaid, with'accrued Interest at the amount allowed by law in effect at ihe date hereof; all other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto.
Trustee named herein or acting hereunder, which instrument, executed by the Beneficiary and dulyacknowled ed and recorded in the ,%ice of the recorder of the county or counties (12) Beneficiary,oranysuccessorinownershipofanyindebtednesssecuredhereby,mayfromtimetotime,byinstrumentinwritin ,substituteasuccessororsuccessorstoany
wheresaid property is situated, shall be conclusive proof of proper substitution of such successor Trustee or {ustees. who shall. without conveyance from theTrustee predecessor, succeed to all its title. estate, rights, powersand duties.Said instrument must contain thenameoftheoriginal Trustor,Trusteeand Beneficiary hereunder, the bookand page where this Deed is recorded and the name and address of the new Trustee.
(13) That this Deed applies to inures to the benefit of, and binds all parties hereto, their heirs legatees devisees administrators executors successors and assi ns The term Beneficiary shall mean the owner And holder, including pledgees, of the note secured hereby, whkther or kat named'as Beneficiary herein. In this Deed, whenever 8e context so requires, the masculine gender includes the feminine and/or neuter, and the singular number includes the plural.
hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party unless brought by Trustee. (14) That Trustee accepts this Trust when this Deed, duly executed and acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any party
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DO NOT RFCORD ~~~~ ~ ~~~
REQUEST FOR FULL RECONVEYANCE
To be used only when note has been paid.
" "_. .""."
TO TlCOR TITLE INSURANCE COMPANY Trustee: Dated
The undersigned is the legal owner and holder of all indebtedness secured by the within Deed of Trust. All sums secured by
said Deed of Trust have been fully paid and satisfied; and you are hereby requested and directed, on payment to you of any sums
owing to you under the terms of said Deed of Trust, to cancel all evidences of indebtedness, secured by said Deed of Trust,
delivered to you herewith together with said Deed of Trust, and to reconvey, without warranty, to the parties designated by the
terms of said Deed of Trust, the estate now held by you under the same.
MAIL RECONVEYANCE TO:
Do not lose or destroy this Deed of Trust OR THE NOTE which it secures. Both must be
delivered to the Trustee for cancellation before reconvevance will be made. I
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EXHIBIT "A"
ADDITIONAL PROVISIONS TO SUBORDINATED DEED OF TRUST
This deed of trust is given to the City of Carlsbad pursu to Section 21.18.045 of the Carlsbad Municipal Code to ins that the maker hereof constructs, operates and maintains property described in the deed of trust secured hereby a: Senior Citizens Housing Project in accordance with the requi ments of said Section and Conditional Use Permit 82-3, or if
so constructed, operated and maintained, that the property
brought up to the standards of the approved conversion F
pursuant to CUP 82-3 or any other conversion plan approved by City of Carlsbad.
No payment shall be required on the note secured by t
deed of trust except as follows:
1. If the Council of the City of Carlsbad or any succe!
thereto determines that the property is being operated or m; tained in violation of any of the terms of said Section 21-18 or said Conditional Use Permit 82-3, or used for other tha Senior Citizens Housing Project without the consent of the ( Council, the City Council may declare the whole sum of princ:
and any accrued interest thereon immediately due and payal
principal and accrued interest in full or within a reasonl time thereafter to convert the project to meet the apprc
conversion plan pursuant to CUP82-3 or any other conversion 1
approved by the City of Carlsbad. Upon said payment in ful
conversion of the project to the approved conversion plan pu ant toCUP 82-3 or any other conversion plan approved by the
of Carlsbad, the City of Carlsbad shall return the note to
maker and reconvey the lien of this deed of trust.
The maker hereof shall then have the option to elect to pay i
2. The entire principal and accrued interest thereon s become immediately due and payable at the option of the Cit Carlsbad in the event that upon the sale, conveyance or o disposition of the property described in the deed of t
securing the note, the buyer fails to agree in writing to ac
and abide by all the terms and provisions of the promissory n
The maker hereof shall have the right at any time to p3
to meet the approved conversion plan pursuant to CUP 82-3 01 other conversion plan approved by the City of Carlsbad,
payment in full or such conversion of the property, the
shall be cancelled and the lien of the deed of this deed of 1
shall be reconveyed.
all or any part of the note or to elect to convert the pro1
This note is given solely to conform with the provisior
said Section 21.18.045 of the Carlsbad Municipal Code and ne:
the maker nor any partner, officer, agent or employee of
maker shall have personal liability for payment of the note.
holder thereof shall look only to its interest in the pro1
described in this deed of trust.
Pursuant to said Section 21.18.045, this deed of trust
be subordinated and subject to any first deeds of trust . executed by Trustor or his successor in interest concurr
herewith or at any time hereafter to secure loans called
struction loans," "permanent loans" or any other form of
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refinancing, additional financing, or promissory note given the purchaser of the property on condition that:
(1) This deed of trust shall be subordinated to only first deed of trust and no additional secondary junior financing;
(2) The loan to which this deed of trust is to be subor
market value of the property at the time of subordi tion.
I nated shall not exceed ninety percent (90%;) of the f
(3) The proceeds of any such loan, financing or refinanc
may be used to pay loan fees, interest or other char
in connection with making of said loan and any exc may be retained by the Trustor or his successor
interest so long as the other provisions of f
subordination clause have been satisfied.
This Deed of Trust is specifically made subject and subordil
to that certain Deed of Trust dated December 19 I 19-
1 executed by Jefferson House in which Great American Fedc
Savings Bank, a corporation, is named as Beneficiary
California General Mortgage Service, Inc., a corporation
8' Trustee, which is being recorded concurrently herewith.
Q' THE CITY OF CARLSBAD JEFFERSON HOUSE
Y j (J /
By : .h&-!,-$ &> - ,<'E??'*(/
MARY $. CASLER, Mayor
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STATE OF CALIFORNIA ) 1 ss. " 1201'
COUNTY OF SAN DIEGO )
On re.gpo~c/ 22. ,+P# , before me the undersigned, a NI Public in and'for said State, personally appeared Mary H. Casler, ]
to me to be the Mayor of the City of Carlsbad, a Municipal Ccrpora. of the State of California, known to me to be the person who execu.
the within instrument on behalf of said Municipal Corporation, and zcknowledged to me that such City of Carlsbad, California, execute(
the same.
WITNESS my hand and official seal.
piotary ?tjbi]r: - Czlifor~ia
TO 1946 CA (7-82)
CAT. NO. NN00630
(Partnership)
STATE OF CALIFORNIA
COUNTY OF SAN DIE6Q 1 ss.
B h.
ATlCOR COMPANY
t On IJ -e P 9 before me, the undersigned, a Notary Public in and
said State, personal'-; appeared //A M R. A k 1 r.
w p. ~ ~- a
5 proved to me on the basis of satisfactory evidence to be
p. the person who exec ted the within instrument as
, personally known to me or . -~
.X
Zmra6rMa GeMeGZL PA@T,y6t& nartner~ of *he nnttnerchin
F"5==3" - - -5 .*r 2rr.,.,,Iy- 5EZZ Fi
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I that executed the within instrument, and acknowledged
to me that such partnership executed the same.
WITNESS my hand and officiai seal.
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d M c;j Signature kLr?r"r-lLL.:l;i .,,.3ue3mc ,~ _,. ,_. -., 0 0 / I
p&%S y7. pssm i
x!OTk~qr >usi-,c . C~\LL~~J?NIA L 1 p;,c$pp$d QCFiCE ;N
,: _j*. ,, ,.J I.,,>:;= ::C':J;.iiY * 'muoy ;3,19s5 ,-?-G-L&&&-a7&--sdi
r&+easu;JuUY----
I (This area for official notarid sed)
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0. m STATE OF CALIFORNIA 3 1 ss. a 1198 a 7,
COUNP/OF SAM Dig&'o
On this !he Ah.--- day of46- 1 Sa-, before me, the undersigned, a Notary Public
Q said State, personally appeared I /A th f?KK "
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2 L p 3 R7@5/it 2 of partners of the partnership that executed the within instrument, and 3 acknowledged to me that such partnership executed the same.
a) JAMES W. JESSW
, personally known to me or proved to
me on the basis of satisfactory evidence to be the person ~ who
executed the within instrument as M&VA WA'6 &&iEifA
7
FOR NOTARY SEAL OR STAMP
ORtClAL =At
NOTARY PUBLIC. CALIFOPNI
PRINCIPAL OFFICE IN
SAN DIEGO COUNTY
Commission Expires January 18,1985 _~.
RECORDtNG REQUESTED "1Y3 8so~p=/56
City of Carlsbad
AND WHEN RECORDED MAIL TO I p City Clerk
City of Carlsbad
1200 Elm Avenue ma
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reo! Carlsbad, CA 92008 idrerr
ate 116 L J
SPACE ABOVE THIS LINE FOR RECORDER'S L
TO 1538 e 15-75)
SUBORDINATION AGREEMENT A.P.N. 203-352-05,6,
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NOTICE: THIS SUBORDINATION AGREEMENT RFSULTS IN YOUR SECURITY INTEREST IN THE PRI
BECOMJNG SUBJECT TO AND OF MWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SE
INSIRUMENT,
THIS AGREEMENT, made this 19th" day of &CEmhC-, 19-.81., by JEFFERSON HOUSE, a General Partnership
owner of the land hereinafter described and hereinafter referred to as ''Owner,'' and -c-IT!Y"OF CART,SRAT?
present owner and holder of the deed of trust and note first hereinafter described and hereinafter referred to as "Ber
___~
WITNESSETH
THAT WHEREAS, Owner has executed a deed of trust, dated ____-___.__ "--., to --T-U.R .-... TITLE INSURA.EC€LC.Oh~P~N~ n-~k _-._ -A ___- ______., as trustee,
Lots 1 through 8 inclusive in Block 57 of the Town of Carlsbad
the City of Carlsbad, County of San Diego, State of California, cording to Map thereof No. 775 on file in the Office of the cou Recorder of said County.
to secure a note in the sum of $ 765,440.00 --", dated December 19p-1-%31", in
Beneficiary, which deed of trust is to be recorded concurrently herewith; and
WHEREAS, Owner has executed, or is about to execute, a deed of trust and note in the sum of $-.---...-.---.
dated , in favor of GRE-N FEW-L, S?~T/XS--- ----
hereinafter referred to as "Lender," payable with interest and upon the terms and conditions described therein, which deed
is also !o be recorded concurrently herewith; and
" BANK ,-axcc.pcu-a t i nn ..._ ___ _""" __- __" ."
WHEREAS, it is a condition precedent fo obtaining said loan from Lender that said deed of trust last above mention
unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the
charge of the deed of trust first above mentioned; and
WHEREAS, Lender is willing to make said loan provided the deed of trust securing the same is a lien or charge u
above described property prior and superior to the lien or charge of the deed of trust first above mentioned and provic
Beneficiary will specifically and unconditionally subordinate the lien or charge of the deed of trust first above mentionec
lien or charge of the deed of trust in favor of Lender; and
WHEKEAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary i:
that the deed of trust securing the same shall, when recorded, constitute a lien or charge upon said land which is uncondi
prior and superior to the lien or charge of the deed of trust first above mentioned.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consid
the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Lender to make the loa1
referred fo, it is hereby declared, understood and agreed as follows:
(1) That said deed of trust securing said note in favor of Lender, and any renewals or extensions thereof, shall
ditionally be and remain at all times a lien or charge on the property therein described, prior and superior to the lien or
of the deed of trust first above mentioned.
(2) That Lender would not make its loan above described without this subordination agreement.
(3) That this agreement shall be the whole and only agreement with regard to the subordination of the lien or
of the deed of trust first above mentioned 10 the lien or charge of (he deed of trust in favor of Lender above referred
described, any prior agrcements as to such subordination, includjng, but not limited to, those provisions, if any, conta
the deed of trust first above mentioned, which provide for the subordination of the lie
deeds of trust or to another mortgage or mortgages.
shall supersede and cancel, but only insofar as would affect the priority between the deeds of trust hereinbefore spe
&m78rn another 1
F .I . 1296
Beneficiary deciares, agrees and acknowledges that
(a) He consents to and approves (i) all provisions of the note and deed of trust in favor of Lender above refer
and (ii) all agreements, including but not limited to any loan or escrow agreements, between Owner and Lender f
disbursement of the proceeds of Lender's loan;
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor has
represented that it will, see to the application of such proceeds by the person or persons to whom Lender disburse
proceeds and any application or use of such proceeds for purposes other than those-provided for in such agreement or ments shall not defeat the subordination herein made in whole or in part;
(c) He intentionally and unconditionally waives, relinquishes and subordinates the lien or charge of the deed c
first above mentioned in favor of the lien or charge upon said land of the deed of trust in favor of Lender above refe:
and understands that in reliance upon, and in consideration of, this waiver, relinquishment and subordination specific loa advances are being and wil) be made and, as part and parcel thereof, specific monetary and other obligations are bei
will be entered into which would not be made or entered into but for said reliance upon this waiver, relinquishme
subordination; and
(d) An endorsement has been placed upon the note secured by the deed of trust first above mentioned that sai
of trust has by this instrument been subordinated to the lien or charge of the deed of trust in favor of Lender above refel
NOTICE: THls SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
GATED ON yom REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPE
FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
THE CITY OF CARLSBAD JEFFERSON HOUSE,
A MqgIPAL c"qB"E;2 ,
By:"
A General Partnership
."-,&4/L" A- . L?/-(/. .-
MARY H. ~ASLER, M~YA ".." " - . "
CAT. NO. NN00630
TO 1946 CA (7-82) 1, (Partnership)
STATE OF CALIFORNIA
COUNTY OF - LYA@ &)/EO 8. 1 ss. -
Ecc 'W g E & i "p.4. /? g-3 before me, the undersigned, a Notary Public in and for 1 s"a:d Stai2ersonaV . appeared /!!, N /A+ rQ ick
z w I u
0.
&UP i
, personally known to me or
proved to me on the basis of satisfactory evidence to be 1
;he gerson - who e ecu ed the within instrument as
UAL' ' 6Ecv~R~L f%$%&partners of the partnership
WITNESS my hand and official seal.
to me that such partnership executed the same. E that executed the within instrument, and acknowledged *$*W p @I JAMES W. JEXWf? F'
NOTARY PUBLIC. CALiFDY,N!A '
~&q&;:; y) PRINCIPAL OFF!(;'' 1t.l i,, d9& I w \Lz&-. *
I y' 1..
wzw SAN DIEPyO C<>UI.ITy b - & MY Gmminion &&.&zz5br:-.<- .. wi;llUli;l-vpti Expires .- January p(t- - r,.- 18, -] d 1986 -.r ' Lhb
I I (This area for official notarial seal)
J STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
) ss.
On ), A~zxD before me the undersigned, a F
Public in and for sa5d State, personally appeared Mary H. Casler,
to me to be the Mayor of the City of Carlsbad, a Municipal Corporz
of the State of California, known to me to be the person who exec1
the within instrument on behalf of said Municipal Corporation, anc
acknowledged to me that such City of Carlsbad, California, execute
the same.
WITNESS my hand and official seal.
I y2Lx &&&/
NOTA PUBLIC
IT 1s RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE 1
CONSULT WITH THElR ATTORNEYS WITH RESPECT THERETO.
(CLTA SUBORDINATION FORM "B")
RECORDING REQUESTED BY .
CHICAGO TITLE COMPANY
AND WHEN RECORDED MAIL TO
City Clerk
City of Carlsbad r~~ 4 AR ’2
Carlsbad, CA 92008 J
- I
N..”.
S+,M 1200 Carlsbad Village Dr. Addr...
2315
JLLJ
SPACE ABOVE THIS
-
LINE
1990 S E P 27 AM8tW
FOR RECORDER‘S USE-
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTERWT IN THE PROPERTY
INSTRUMENT.
BECOMING SUBJECT TO AND OF LOWER PRlORlTY THAN THE LIEN OF SOME OTHER OR LATER SECURITY
THIS AGREEMENT, made this 13th day of PGP CARLSBAD SENIORS, LTD., a California Limited Partnership
August 90
I 19-, by
owner ok the land hereinafter described and hereinafter referred lo as “Owner.” and
and note first hereinafter described and hereinafter referred to as “Beneficiary”: , prcwnt owner and holder of the deed of trust
WITNESSETH
THAT WHERE~S. JEFFERSON HOUSE, a General Partnership
did execute a deed of trust, dated Decenker 19, 1983 > to TICOR TITLE “ 3-ealihKni.L- , as trustee, covering:
Lots 1 to 8, inclusive, in Block 57 of Carlsbad, in the City of Carlsbad,.
County of San Diego, State of California, according to Map thereof No. 775,
filed in the Office of the County Recorder of San Diego County on February
15, 1984:
to secure a note in the sum of S 7651440.00 , dated -, in favor of
of vust was recorded Fehntary Xi. 1984 1 , Official Records of said county: and
which
dated
upon the terms and conditions described therein, which dced of trust is to be recorded concurrently herewith: and
, hereinafter referred to as “Lender.” payable with interest and
WHEREAS, it is a condition precedent lo obtaining said loan that said deed of trust last above mentioned shall unconditionally
deed of trust first above mentioned: and
be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior lo the lien or charge of the
above described property prior and superior to the lien or charge of the deed of trust first above mentioned and provided that
WHEREAS, Lender is willing to make said loan provided the deed of trust securing the same is a lien or charge upOn the
Beneficiary will specifically and unconditionally subordinate the lien or charge of the deed of trust first above mentioned to the lien or charge of the deed of trust in favor of Lender: and
that the deed of trust securing the same shall, when recorded, constitute a lien or charge up~n said land which if unconditionally
WHEREAS, it is to the mutual benefit of :he parties hereto that Lender make such loan to Owner; and Beneficiary is willing
prior and superior to the lien or charge of the deed of trust first above mentioned.
NOW. THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consideration,
the receipt and sufficiency of which consideration is hereby acknowledged. and in order to induce Lender to makc the loan above
referred to. it is hereby declared, understood and agreed as follows:
tionally be and remain at all times a lien or charge on the property therein described, prior and superior to the lien or charge
(I ) That said deed of trust securing said note in favor of Lender, and any renewals or extensions thereof, shall uncondi.
of the deed of trust first above mentiancd.
(2) That Lender would not make its loan above described without this subordination agreement.
of the deed of truI fint above mentioned to the lien or charge of the deed of trust in favor of Lender abavc referred to and
(3) That this agreement shall be the whole and only agreement with regard to the subordination of the lien or charge
desqrihcd. any prior agreements a, to such mhordination. including. but not limited to, those provisions, if any, contained in \hall supersede and cancel. but only inyofar as would affect the priority between the deeds of trust hereinbefore specifically
deed of trust firs1 above mentioned. which provide for the subordination of the lien or charge thereof to deed or deedr
of trutt or to another mortgage or mortgages.
SUBORDINATION. RECORDED DEED OF TRUST TO DEED OF TRUST TO RECORD.
..
Beneficiary declares, agrees and acknowlcd&s that
'(a) He consents to and approves (i) a11 provisions.of the note and deed of trust in favor of Lender above referred to.
and (ii) all agreements. including but not limited to any loan or escrow agreements. between Owner and Lender for the
disbursement of the proceeds of Lender's loan;
represented that it will, see to the application of such proceeds by the person or persons to whom Lender disburser such
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to. nor has Lender
proceeds and any application or Use of such proceeds for purposes other than those provided for in such agreement or
agreements shall not defeat the subordination herein made in whole or in part;
first above mentioned in favor of the lien or charge upon said land of the deed of trust in favor of Lender above referred
(c) He intentionally and unconditionally waives, relinquishes and subordinates the lien or charge of the deed of trust
to and understands that in reliance upon. and in consideration of. this waiver. relinquishment and subordination specific loans
and advances are being and will be made and, as part and parcel thereof. specific monetary and other obligations arc being
and will be entered into which would not be made or entered into but for said reliance upon this waiver, relinquishment and
subordination; and
of trust has by this instrument been subordinated Io the lien or charge of the deed of t~st in favor of Lender above referred to. (d) An endorsement has been placed upon the note secured by the deed of trust fir51 above mentioned that raid deed
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON OBLI-
GATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPENDED
FOR OTHER PURPOSES THAN IMPROVEMEUT OF THE LAND.
J deficiq
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
dN R. KUNDTZ, ssistant City Clerk
CAT. NO. NN00637
TO 1955 CA (1-831
(Parmership as a Partner of a Partnership)
PGP CARLSBAD SENIORS, LTD., A California
Limited Partnership -m- ornia General Partnership, General
nc
a TICOR TITLE INSURANCE
.I said State, personally appeared
before me the u dersi ned, a N tary Public in and for .E.W~CH~€&€~ 4"& J /r &rAI\Iuis
penonally known to me or provee on the basis of satisfactory evidence to be the personAw z I ALL - of the partners om FiC &\hiTt+ dC L5 5 the partnership that executed the withh
, a partnership, and that
said last named partnership executed the same.
WITNESS my hand and o -
signature 1 U (This ues for officid notlrid sed)
STATE OF CALIFORNIA
COUNTY OF Diego SS :
On September 21, 1990 before me, the undersigned, a Notary Public
in and for said State, personally appeared Claude A. Lewis and Karen R. Kundtz ............................... 2' of _Carlsbad, known California to me to be
and known to me to be the person who executed the within instrument
on behalf of said public corporation, agency or political
agency, or political subdivision executed the same.
subdivision, and acknowledged to me that such public corporation,
WI ESS my han9nd official seal. 3 I, -,,