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HomeMy WebLinkAboutRuderman, Debby; 2001-09-18;BY FIRST AMERICAN TTfU£ RECORDING REQUESTED BY HDP tt 9fifi1 — AND WHEN RECORDED MAIL TO: 1-?"" tt £UUX SEP 25, 2001 3 = 24 PM City Clerk's Office 1200 Carlsbad Village Drive OFFICIAL RECORDS carisbad, CA 92008 SAN DIEGO COUNTY RECORDER'S OFFICE Attention: City Clerk fifflffl J. gflJH, COUNTY RECORDER A i No fee for recording pursuant to /\ /ktv C5/'3''^"^? •< UftV" 9 V \\ „ Government Code Sectiop 27383 U^ _J >"T' THIRD LIEN (Space above for Recorder's Use) NOTE TO BORROWER: THIS DEED OF TRUST CONTAINS PROVISIONS PROHIBITING ASSUMPTIONS DEED OF TRUST AND SECURITY AGREEMENT THIS DEED OF TRUST AND SECURITY AGREEMENT ("Deed of Trust") made as of this 18th day of SEPTEMBER . 2001, among DEBBY RUDERMAN ("Borrower") as trustor, and FIRST AMERICAN TITLE COMPANY ("Trustee"), and the City of Carlsbad, a municipal corporation (the "City"), as beneficiary. ,'* A CALIFORNIA CORPORATION 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 property located in the City of Carlsbad, State of California, described in the attached Exhibit "A" (the "Property"). 6086 PASEO SALINERO, CARLSBAD, CA. 92009 "•' K j.-TOGETHER with all the improvements now or hereafter erected on the property, 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; and l i TOGETHER with all articles of personal property or fixtures now or hereafter attached to ' I 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 cpmfortable 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"; to the Residence through a deed in lieu of foreclosure, a trustee's deed upon sale, or otherwise, the amount paid for the Residence at a creditor's sale of the Residence. b. "Contingent Interest" shall mean the percentage of the Appreciation Amount set out in Section 4. c. "Fair Market Value" shall toe determined 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 properties sold in the market area during the preceding three-month period. The cost of the appraisal shall be paid by the Borrower. Nothing in this subparagraph shall preclude the Borrower and the City from establishing the Fair Market Value of the Residence by mutual agreement in lieu of an appraisal. d. "First Mortgage" shall mean the promissory note and deed of trust evidencing and securing the first mortgage loan for the Residence. e. "Residence" shall mean the housing unit and land encumbered by the deed of trust executed in connection with this Note. f. "Transfer" shall mean any sale, assignment.or transfer, voluntary or involuntary, of any interest in the Residence, 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 Residence 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 obligpr under the Note; (ii) by a Borrower to a spouse where the spouse becomes the co-owner of the Residence; (iii) between spouses as part of a marriage dissolution proceeding; (iv) to an existing spouse or child of the Borrower by devise or inheritance following the death of the Borrower; (v) by the Borrower into an inter vivos trust in which the Borrower is the beneficiary; or (vi) by deed of trust or imposition of a lien subordinate to the Deed of Trust, shall not be considered a Transfer for the purposes of this Note; provided, however, that the Borrower shall continue to occupy the Residence as his or her principal place of residence and the Borrower shall provide written notice of such transfer t6 ' the City pursuant to Section 14 below. I 3. Security. This Note is secured by a second deed of trust dated the same date as this Note (the "Deed of Trust"). ** THIRTY SIX POINT THIRTY SIX PERCENT** *** 36.36%***. t 4. Contingent Interest. The Borrower shall pay contingent interest equal to ** percent (*** %) ("Contingent Interest Percentage Amount") [seller to insert appropriate percentage which shall in no even't exceed1 (50%)] of the Appreciation Amount (the "Contingent Interest"). 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 7(a) below, unless forgiven by the City pursuant to Section 7(b) below. Borrower acknowledges that the Contingent Interest Percentage Amount is equal to the City/Seller Loan principal amount as a percentage of the total purchase price of the Residence paid by the Borrower at the time of purchase, multiplied by seventy-five one hundredths (.75). Borrower acknowledges that this calculation of the 'r,' • 04/02/99 2 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 Borrower may make to the Residence. 5. Term. The Term of this Note shall mean the period commencing on the date of this Note and expiring on the date thirty (30) years thereafter. 6. Owner-Occupancy Required: Representations Regarding Income. a. The Borrower is required to occupy the Residence as his or her principal place of residence, and failure by the Borrower to comply with this requirement shall be a default under this Note. The Borrower shall be considered as occupying the Residence if the Borrower is living in the Residence for at least ten (10) months out of each calendar year. The Borrower shall provide an annual written certification to the City that the Borrower is occupying the Residence as his or her principal place of residence. The Borrower shall not lease the . Residence to another party. Any lease of the Residence shall be a default under this Note. '•*'•" i b. Borrower hereby certifies that-all income information previously submitted to the Seller and/or the City is true and correct. Misrepresentation by Borrower of income information provided to the Seller and/or the City shaft be a default under this Note. 7. Repayment. ' a. The total amount of the principal and any Contingent Interest owed under this Note shall immediately become due and payable (i) in the event of a default by the Borrower under this Note, the Deed of Trust, or the First Mortgage, (ii) on the date Transfer is made whether voluntarily, involuntarily, or by operation of law and whether by deed, contract of sale, gift, devise, bequest or otherwise, (iii) in the event Borrower ceases to occupy the Residence as his or her principal place of residence; or (iv) 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. b. In the event, upon expiration of the Term, (i) no Transfer has h f occurred, (ii) Borrower has repaid all principal pursuant to subsection (a) above, (iii) Borrower • , continues to owner-occupy the Residence, and (iv) Borrower is not in default hereunder or under the Deed of Trust, the City shall forgive repayment of all Contingent Interest due hereunder. 8. Late Payment Fees. If any payment due hereunder is not paid within five- ; (5) days from the date it is due, Borrower shall pay a reasonable late or collection charge equal to five percent (5%) of the amount so unpaid. The City and Borrower 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 Borrower and the City of a fair average compensation for such damages and costs. Such charges shall be paid by Borrower without prejudice to the right of the City to collect any other amounts provided to be paid under this Note or the Deed of Trust or, with respect to late payments, to declare a default. 04/02/99 9. Prepayments. The Borrower may prepay all or part 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. 10. No Assumption of Note. The Borrower acknowledges that this Note is given in connection with the purchase of property (the "Residence") as part of a program of the City to assist in the purchase of homes by lower income persons. Consequently, this Note is not assumable by transferees of the Residence, but is due in full upon Transfer. 11. Maintenance: Taxes; Insurance. Borrower shall maintain the Residence in good repair and in a neat, clean and orderly condition. Borrower shall promptly pay all property taxes due on the Residence prior to any delinquency and shall comply with the insurance requirements set forth in the Deed of Trust. 12. 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 Deed of Trust shall be subordinated to the refinanced loan, provided that (i) such refinancing is approved by the City, (ii) the amount refinanced does not exceed the outstanding principal 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 Mortgage Loan than were due prior to the refinance. 13. Certification of Purchase Price on Transfer. Upon any sale of the Residence, the Borrower shall submit to the City at least fifteen (15) days prior to the close of escrow, a copy of the sales contract and a written declaration, under penalty of perjury, from the Borrower and the proposed purchaser in a form acceptable to the City stating the gross sales price of the Residence. The certification shall also provide that the proposed purchaser or any other party has not paid and will not pay to the Borrower, and the Borrower 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 forth in the sales contract. I-' t' 14. Notice to City of Transfers. Borrower shall provide the City with written ; notice of any Transfer of the Residence or of any interest in the Residence (including, but not limited to, encumbrance of the Residence with a junior deed of trust or transfer of the Residence to a spouse or trust). Borrower shall provide this notice to the City no later than fifteen (15) days before the Transfer occurs, except where the Transfer is by devise or inheritance after death of the •Borrower in which event notice shall be provided within thirty (30) days of the date of Transfer. 15. Default. ' >••''• a. The Borrower shall be in default under this Note if he or she is in default under the First Mortgage following the expiration of First Mortgage cure periods, or if, after the notice and cure period provided by the City to the Borrower pursuant to the notice and cure provisions of the Deed of Trust, the Borrower (i) fails to pay any money when due under this 04/02/99 Note; (ii) breaches any representation or covenant made in this Note in any material respect; or (iii) breaches any provision of the Deed of Trust. b. Upon the Borrower's breach of any covenant or agreement of the Borrower in this Note or the Deed of Trust, including, but not limited to, the covenants to pay, when due, any sums secured by the Deed of Trust, the City, prior to acceleration, will send, in the manner set forth in Section 20 notice to the Borrower 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, 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 the Deed of Trust and foreclosure by the City. 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. 16. Acceleration. .Upon the occurrence of a default under this Note, the Deed of Trust, or the First Mortgage, 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 and the Deed of Trust. 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. 17. 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. 18. Waiver; Attorney Fees and Costs. The Borrower 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 terms of payment, or change, alteration or release of any ' K 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 Borrower promises to pay, in addition to the costs and disbursements allowed by law, such sum as a pourt may adjudge reasonable as attorneys' fees i {in such action. 19. 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. 20. 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 '*'.' • CM/02/99 5 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 Borrower: At the address of the Residence. •: To the City: City of Carlsbad Housing and Redevelopment Department Attention: Housing and Redevelopment Director 2965 Roosevelt Street, Suite B Carlsbad, CA 92008-2389 '"••** The parties may subsequently change addresses by p'roviding written notice of the change in address to the other parties in accordance with this Section 20. 21. Joint and Several Obligations. This Note is the joint and several obligation of all makers, sureties, guarantors and endorsers, and shall be binding upon them and their successors and assigns. 22. Nonliability for Negligence, Loss, or Damage. Borrower acknowledges, understands and agrees that the relationship between Borrower and the City is solely that of borrower and lender, 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 Residence 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 Residence 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 Residence and will hold the City harmless from any liability, loss or damage for these tilings. 23. Indemnity. Borrower agrees to defend, indemnify, and hold the City harmless from all losses, damages, liabilities, claims, actions, judgments, costs, and reasonable attorneys fees that the City may incur as a direct or indirect consequence of: t a. the making of the loan to Borrower; b. Borrower's failure'to-perform any obligations as and when required by the Note or the Deed of Trust; or c. the failure at any time of any of Borrower's representations to the Seller or the City to be true and correct. 0402/99 24. Termination of Restrictions. Any legal restrictions on conveyance of the Residence (as defined in 24 CFR 203.41(a)(3)(u)) included in this Note shall terminate upon transfer of the Residence by foreclosure, deed in lieu of foreclosure, or assignment to the Secretary of the United States Department of Housing and Urban Development.. 25. Controlling Law. This Note shall be construed in accordance with and be governed by the laws of the State of California. 26. Assignment bv City. The City may assign its right to receive the proceeds under this Note to any person and upon notice to the Borrower by the City all payments shall be made to the assignee. 27. 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. 28. Entire Agreement. This Note (along with the Deed of Trust) sets forth the entire understanding and agreement of the City and the Borrower and any amendment, alteration or interpretation of this Note must be in writing signed by both the City-and the Borrower. Borrower DEBBY RUDEtfMAN (Print Name) Borrower (Print Name) OV02/99 RECORDING REQUESTED BY HRST AMERICAN TITLE OrdU-No. wf>>\i-% . Escrow No. ^bH.jl ^ ^ Loan No. WHEN RECORDED MAIL TO City of Carlsbad City Clerks Office 1200 Carlsbad Village Drive Carlsbad, CA 92008-2839 DOC * 2001-0690255 SEP 25. 2OO1 3s 24 PM 13237 DFFICIft RECORDS 9AN DIEBO COUHTY RECORDER'S OFFICE GRE6QRY J. 8HITH, COUHTY RECORDER FEES: 0.00 f'l Space above this line : 2001-0690255 Hi Request For Notice Under Section 2924b Civil Codei In accordance with Section 2924b, Civil Code, request is hereby made that a copy of any Notice of Default and a copy of any Notice of Sale under the Deed of Trust recorded as Instrument No. recorded, concurrentlym , 200__, _,Page , Official Records of San Diego County,in Book , California, and describing land therein as: SEE EXHIBIT "A" CITY OF CARLSMD Executed by_ which, and FIRST AMERICAN TITLE COMPANY, A CALIFORNIA CORPORATION mailed to CITY OF CARLSBAD, CITY CT.KKKS OFFICE, ATTN; CTTY NOTICE*, a copy of any notice of default and of any notice of sale will contained in this recorded request. If your address changes, a new request mi ,as Trustor, in jsnamed as Beneficiary, asTnistee, be 1200 CARI-SMD VTT.T.AOF. ryRTVTC, CART-STUn QA 92008-2839 nly to the address STATE OF CALIFORNIA COUNTY OF Sart Diego ) Qn SEPTEMBER 18. 2001 Personally appeared, ROBERTA HANDY, , before me, the undersigned notary, MARY ROBERTA HANDY Personally known to me (or 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 execuledihe same in his/her/their Authorized capacity (ies), and that by his/her/their signatures(s) on the Instrument the person(s) or the entity upon behalf of which the person(s) acted, executed the Instrument WITNESS /-\ A hand and/official s/al. Signature 7 TERESA A. ROGERS Commission* 1276427 Notary PubSic - Cditamw San Dtego County (Ihis space for official notarial seal) ORDER NO. 507315-5 1 9XJ *3RLEGAL DESCRIPTION ° ° THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN DIEGO, AND IS DESCRIBED AS FOLLOWS: A CONDOMINIUM COMPOSED OF: PARCEL 1: AN UNDIVIDED FRACTIONAL INTEREST AS TENANT IN COMMON IN AND TO THE BUILDING ENVELOPE IN WHICH THE LIVING UNIT DESCRIBED IN PARCEL 2 BELOW IS LOCATED EQUAL TO THE RECIPROCAL OF THE NUMBER OF LIVING UNITS WITHIN THAT BUILDING ENVELOPE; BEING A PORTION OF LOT 2 OF CITY OF CARLSBAD TRACT 98-15 RANCHO CARRILLO VILLAGE "B", ACCORDING TO MAP THEREOF NO. 14002, FILED WITH THE COUNTY RECORDER OF SAN DIEGO COUNTY, CALIFORNIA ON JULY 18, 2000. EXCEPTING THEREFROM EACH LIVING UNIT LOCATED WITHIN SUCH BUILDING ENVELOPE, AS SHOWN ON THE CONDOMINIUM PLANS DESCRIBED IN PARCEL 2 BELOW; RESERVING THEREFROM THE EXCLUSIVE RIGHT TO POSSESSION AND USE OF ANY EXCLUSIVE USE AREA SHOWN ON CONDOMINIUM PLAN DESCRIBED IN PARCEL 2 BELOW. FURTHER RESERVING THEREFROM ALL THE RIGHTS AND EASEMENTS SET FORTH IN THE DECLARATION OF RESTRICTIONS FOR SERRANO AT RANCHO CARRILLO (THE "DECLARATION") AND THE MASTER DECLARATION OF RESTRICTIONS FOR RANCHO CARRILLO (THE "MASTER DECLARATION"), INCLUDING, BUT NOT LIMITED TO, THE EASEMENTS FOR INGRESS, EGRESS AND GENERAL UTILITY PURPOSES AND GRANTOR'S RIGHTS AND EASEMENTS TO CONSTRUCT AND MARKET RESIDENCES AND CONSTRUCT RELATED IMPROVEMENTS. PARCEL 2: — LIVING UNIT NO. 90. AS SHOWN UPON THE SERRANO CONDOMINIUM PLANS (LOT 2 OF CT 98-15) RECORDED DECEMBER 6, 2000 AS DOCUMENT NO. 2000-0663283 OF OFFICIAL RECORDS OF SAN DIEGO COUNTY, CALIFORNIA (THE "CONDOMINIUM PLANS"). RESERVING FROM PARCEL 2, ALL RIGHTS AND EASEMENTS FOR SET FORTH IN THE DECLARATION AND THE MASTER DECLARATION. ORDER NO. 507315-5 PARCEL 3: NON-EXCLUSIVE APPURTENANT EASEMENTS IN AND TO THE ASSOCIATION PROPERTY NOW OR HEREAFTER OWNED BY THE ASSOCIATION AS SET FORTH IN THE DECLARATION. "ASSOCIATION PROPERTY" IS DEFINED IN THE DECLARATION. PARCEL 4: A NON-EXCLUSIVE EASEMENT FOR VEHICULAR AND PEDESTRIAN ACCESS, INGRESS AND EGRESS AND DRIVEWAY PURPOSES AND FOR THE USE OF PRIVATE STORM DRAINS OVER, UNDER, ALONG, ACROSS AND THROUGH THAT PORTION OF LOT 207 OF CARLSBAD TRACT 97-02 RANCHO CARRILLO VILLAGES "A-D", IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 13582, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON JUNE 10, 1998, DESCRIBED AS FOLLOWS: . v BEGINNING AT THE NORTHEAST CORNER OF SAID LOT 207; THENCE ALONG THE EASTERLY AND SOUTHERLY PROPERTY LINES THEREOF, THE FOLLOWING COURSES: SOUTH 22°16'38" WEST 53.04 FEET; THENCE SOUTH 24°20'16" WEST 50.74 FEET TO THE TRUE POINT OF BEGINNING, ALSO BEING THE BEGINNING OF A NON-TANGENT 58.50 FOOT RADIUS CURVE CONCAVE NORTHWESTERLY, TO WHICH A RADIAL LINE BEARS NORTH 87°54'36" EAST; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 35°27'52" A DISTANCE OF 36.21 FEET; THENCE SOUTH 33°23'24" WEST 230.96 FEET TO THE BEGINNING OF A NON-TANGENT 22.50 FOOT RADIUS CURVE CONCAVE EASTERLY, TO WHICH A RADIAL LINE BEARS NORTH 56°34'59" WEST; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 82°20'15" A DISTANCE OF 32.33 FEET; THENCE SOUTH 48°55'15" EAST 23.42 FEET TO THE BEGINNING OF A TANGENT 100.00 FOOT RADR7S CURVE CONCAVE NORTHEASTERLY; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 02°22'29" A DISTANCE OF 4.14 FEET; THENCE SOUTH 51°17'44" EAST 54.80 FEET TO THE BEGINNING OF A NON-TANGENT 100.00 FOOT RADR7S CURVE CONCAVE SOUTHWESTERLY, TO WHICH A RADIAL LINE BEARS NORTH 38°42'14" EAST; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 05°33'30" A DISTANCE OF 9.70 FEET; THENCE SOUTH 45°44'4£" EAST 51.08 FEET TO THE BEGINNING OF A NON-TANGENT 48.00 FOOT RADIUS CURVE CONCAVE SOUTHWESTERLY, TO WHICH A RADIAL LINE BEARS NORTH 06°17'12" WEST; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 72°39'49" A DISTANCE OF 60.87 FEET; THENCE SOUTH 23°37'23" EAST 50.00 FEET TO THE BEGINNING OF A TANGENT 90.00 FOOT RADKJS CURVE CONCAVE NORTHEASTERLY; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 11°57'12" A DISTANCE OF 18.78 FEET; THENCE SOUTH 54°25'25" WEST 10.00 FEET; THENCE SOUTH 53°07'09" WEST 58.01 FEET TO THE BEGINNING OF A NON-TANGENT 90.00 FOOT RADIUS CURVE CONCAVE SOUTHWESTERLY, TO WHICH A RADIAL LINE BEARS NORTH 53°56'42" EAST; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 12°25'56" A DISTANCE OF 19.53 FEET; THENCE NORTH 48°29' 14" WEST 50.00 FEET TO THE BEGINNING OF A TANGENT 48.00 FOOT RADIUS CURVE CONCAVE NORTHEASTERLY; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 45°55'59" A DISTANCE OF 38.48 FEET; THENCE NORTH 45°44'15" WEST 58.34 FEET TO THE BEGINNING OF A TANGENT 100.00 ORDER NO, 507315-513240 FOOT RADIUS CURVE CONCAVE NORTHEASTERLY; THENCE NORTHWESTERLY ALONG THE ARC OF SATO CURVE THROUGH A CENTRAL ANGLE OF 02°04'27" A DISTANCE OF 3.62 FEET; THENCE NORTH 43°39'48" WEST 51.89 FEET TO THE BEGINNING OF A TANGENT 100.00 FOOT RADIUS CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 05° 15'25" A DISTANCE OF 9.18 FEET; THENCE NORTH 48°55'14" WEST 48.27 FEET TO THE BEGINNING OF A TANGENT 50.00 FOOT RADIUS CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 07°13'51" A DISTANCE OF 6.31 FEET TO THE BEGINNING OF A REVERSE 38.50 FOOT RADIUS CURVE CONCAVE EASTERLY; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 118°28'45" A DISTANCE OF 79.61 FEET; THENCE LEAVING SAID PROPERTY LINE OF LOT 207 SOUTH 27°40'20" EAST 7.00 FEET TO THE BEGINNING OF A NON-TANGENT 31.50 FOOT RADIUS CURVE CONCAVE SOUTHEASTERLY, TO WHICH A RADIAL LINE BEARS NORTH 27°40'20" WEST; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 21°18'04" A DISTANCE OF 11.71 FEET TO THE BEGINNING OF A REVERSE 25.00 FOOT RADIUS CURVE CONCAVE NORTHWESTERLY; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 50°15'17" A DISTANCE'OF 21.93 FEET; THENCE NORTH 33°22'27" EAST 254.69 FEET; THENCE SOUTH 65°39'44" EAST 21.92 FEET TO THE TRUE POINT OF BEGINNING. PARCEL 5: THE EXCLUSIVE RIGHT TO USE ANY EXCLUSIVE USE AREA SHOWN ON THE CONDOMINIUM PLANS AS BEING APPURTENANT TO THE LIVING UNIT DESCRIBED IN PARCEL 2 ABOVE.