Loading...
HomeMy WebLinkAboutBlack, Kathleen; 2016-11-01;~ • ' Ill, ' DocuSign Envelope ID: A8FE49D2-9C14-4'14B-B3C8-024C1BC284D0 RECORDING REQUESTED PURSUANT TO GOVERNMENT CODE SECTION 27383 When Recorded Mail To: City of Carlsbad City Clerk's Office 1200 Carlsbad Village Drive Carlsbad, CA 92008 DOC# 2022-0121187 111111111111 lllll 111111111111111 lllll lllll lllll lllll 111111111111111111 Mar 18, 2022 10:03 AM OFFICIAL RECORDS Ernest J. Dronenburg, Jr., SAN DIEGO COUNTY RECORDER FEES: $20.00 (SB2 Atkins: $0.00) PCOR: N/A PAGES: 20 SUBSTITUTION OF TRUSTEE AND FULL RECONVEYANCE WHEREAS, KATHLEEN BLACK was the original Trustor, EQUITY TITLE COMPANY was t he original Trustee, and CITY OF CARLSBAD was the original beneficiary under t hat certain Deed of Trust dated NOVEMBER 1, 2016, and recorded on NOVEMBER 18, 2016 as Document No. 2016-0632435 of Official Records of SAN DIEGO County, California, describing land therein as: 7373 PORTAGE WAY, CARLSBAD, CA or more fully described on the attached page marked "Exhibit A"; and WHEREAS, the undersigned Beneficiary desires to substitute itself as the new Trustee under said deed of trust in place of EQUITY TITLE COMPANY. NOW THEREFORE, the undersigned hereby substitutes itself as Trustee under said Deed of Trust and does hereby RECONVEY, without warranty, to the person or persons lega lly entitled thereto, the estate now held by it thereunder. CITY OF CARLSBAD Dated: --~1-;_,_.,---'-/_'c...._~ ___ _ By: Geoff Patnoe, Assistant City Manager (Proper Notarial Acknowledgement of Signature Must Be Attached) CA 6/22/2015 CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 811 HJ D D IJ0080IJ a 11J008(j E E D ll 0:88:ililiO:I 111111111 B8088:H:ilil:ilil:tffll lll:ilil00806:8 0:0:08!J D D IJ'!ffl'OOl:1111 a a a a a a Ii~ 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 ~Sa..JA.l?ri £!] O On M C,lVC,1/\;\D I 2 D "'2 2= before me, ~~~~--------1--~_i_~~l..l.!._.J..-....----+--~~~ Date personally appeared 6-eo..W=?a:::t:YlD e__. Name(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name~is/~ subscribed to the within instrument and acknowledged to me that he/srk!thfoy executed the same in his!h'fr!trpir authorized capacity(ies), and that by his/h/r!th/ir signature({) on the instrument the person(s), or the entity upon behalf of which the person(s) actecf. executed the instrument. ~-···········~ • • St,E~3Y M. Ni:lSC,. -· Notary Public • C•llfornia i San Oleto County I Commlss!on • 2373071 - ,._Y Comm. Explr.s -'•I l 1, 2025 Place Notary Seal and/or Stamp Above 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. Signat OPTIONAL Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: ___________________________ _ Document Date: _______________________ Number of Pages: ____ _ Signer(s) Other Than Named Above: _______________________ _ Capacity(ies) Claimed by Signer(s) Signer's Name: ____________ _ □ Corporate Officer -Title(s): ______ _ □ Partner -□ Limited □ General □ Individual o Attorney in Fact □ Trustee o Guardian or Conservator □ Other: Signer is Representing: _________ _ Signer's Name: ____________ _ o Corporate Officer -Title(s): ______ _ o Partner -o Limited o General D Individual o Trustee D Other: o Attorney in Fact □ Guardian or Conservator Signer is Representing: _________ _ 008800IJ00008800IJOI 1:o=rne:lJ 0tco:@ □ □ rno:oooE:0:0:1 11@0000llllWCo~ou:oooou1 a.1:1 ©2019 National Notary Association ,• OocuSign Envelope ID: A8FE49O2-9C14-414B-B3C8-024C1 BC284O0 ~ ,\)' NO FEE RECORDING REQUESTED PURSUANT TO GOVERNMENT CODE SECTION 27383 When Recorded Mail To: City of Carlsbad 1200 Carlsbad Village Drive Carlsbad, CA 92008 Attention: Director, Housing and Neighborhood Services NOTE TO BORROWER: DOC# 2016-0632435 1111111 ~Ill lllll 11111111111111111111111111111111111111111111111111111 Nov 18, 201 6 10:51 AM OFFICIAL RECORDS Ernest J. Dronenburg Jr SAN DIEGO COUNTY RECORDER FEES: $0.00 PCOR: NIA PAGES: 10 THIS DEED OF TRUST CONTAINS PROVISIONS RESTRJCTING ASSUMPTIONS DEED OF TRUST AND SECURJTY AGREEMENT THIS DEED OF TRUST AND SECURJTY AGREEMENT ("Deed of Trust") made this l day of November, 2016, among the trustor, Kathleen Black ("Borrower"), Equity Title ("Trustee"), and the City of Carlsbad (the "City") as Beneficiary. The Borrower, in consideration of the promises herein recited and the trust herein created, irrevocably grants, transfers, conveys and assigns to Trustee, in trust, with power of sale, the property located in the City of Carlsbad, State of California, described in the attached Exhibit A and more commonly known as: 7373 Portage Way, Carlsbad,, California (the "Property"). 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 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." To have and to hold the Security together with acquittances to the Trustee, its successors and assigns forever; JO I 0\01\613290.4 DocuSign Envelope ID: A8FE49O2-9C14-414B-B3C8-024C 1 BC284D0 TO SECURE to the City the repayment of the sums loaned to Bonower by City ("Loan") pursuant to a Loan Agreement between City and Borrower dated of even date herewith (the "Loan Agreement") and evidenced by a promissory note to the City executed by Borrower, dated of even date herewith in the amount of five thousand Dollars ($5,000) ("Note"); and TO SECURE 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 Borrower herein contained. BORROWER AND 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 Security, that other than this Deed of Trust, the Security is encumbered only by those deeds of trust approved in advance by City. 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. 2. Repayment of Loan. Borrower will promptly repay, when due, the principal and interest required by the Note. The Note contains the following provisions prohibiting assumption: "No Assumption of Note by Subsequent Buyers. Borrower(s) ack.nowledge(s) that this Note is given in connection with the City's Minor Home Repair Program. Pursuant to such program, the loan must be repaid by the Borrower and may not be assumed by a subsequent transferee. Consequently, this Note is not assumable by transferees, but is due in full upon Transfer." 3. Compliance with Loan Agreement and Note. Borrower shall comply with the terms and conditions of the Loan Agreement and Note. 4. Charges; Liens. 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 Borrower making any payment, when due, directly to the payee thereof. Upon request by the City, Borrower will promptly furnish to the City all notices of amounts due under this paragraph. In the event Borrower makes payment directly, Borrower will promptly discharge any lien which has priority over this Deed of Trust; provided, that Borrower will not be required to discharge any lien described in this paragraph so long as 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. 5. Hazard Insurance. Borrower will keep the Security insured by a standard all risk property insurance policy equal to the replacement value of the Security (adjusted every five (5) 10I0\01\613290.4 DocuSign Envelope ID: A8FE4902-9C14-414B-B3C8-024C1BC284DO years by appraisal, if requested by the City). If the Security is located in a flood plain, Borrower shall also obtain flood insurance. The insurance carrier providing this insurance shall be licensed to do business in the State of California and be chosen by Borrower subject to approval by the City. 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 City 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 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 ofloss, 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 Borrower. The City shall receive thirty (30) days advance notice of cancellation of any insurance policies required under this section. Unless the City and Borrower otherwise agree in writing, insurance proceeds 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 to repay the amounts owed under this Deed of Trust, with the excess, if any, paid to Borrower. If the Security is abandoned by Borrower, or if 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 Borrower that the insurance carrier offers to settle a claim for insurance benefits, the City, or its designated agent, is authorized to collect and apply the insurance proceeds at the City's option either to restoration or repair of the Security or to repay the loan. If the Security is acquired by the City, all right, title and interest of 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. 6. Preservation and Maintenance of Security. Borrower will keep the Security in good repair and in a neat, clean, and orderly condition and will not commit waste or permit impairment or deterioration of the Security. If there arises a condition in contravention of this Section 6, 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 ri ghts 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. 7. Protection of the City's Security. If Borrower fails to perform the covenants and agreements contained in this 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, eminent 10I0\011613290.4 DocuSign Envelope ID: A8FE49D2-9C 14-414B-B3C8-024C 1BC284D0 domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then the City, at the City's option, upon notice to 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 Borrower secured by this Deed of Trust. Unless Borrower and City agree to other terms of payment, such amount will be payable upon notice from the City to Borrower requesting payment thereof, and will bear interest from the date of disbursement at the lesser of (a) ten percent (10%); or (b) 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. 8. Inspection. The City may make or cause to be made reasonable entries upon and inspections of the Security; provided that the City will give Borrower reasonable notice of inspection. 9. 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. 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. 10. 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. 11 . 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 Borrower subject to the provisions of this Deed of Trust. 12. Joint and Several Liability. All covenants and agreements of Borrower shall be joint and several. 13. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Deed of Trust will be given by certified mail, addressed to Borrower at the address shown in the first paragraph of this Deed of Trust or such other address as Borrower may designate by notice to the City as provided herein, and (b) any notice to the City will be given by express delivery, return receipt requested, to the City at 1200 Carlsbad Village Drive, Carlsbad, CA 92008, Attention: Director, Housing and Neighborhood Services or to such other address as the City may designate by notice to Borrower as provided above. Notice shall be effective as of the date received by City as shown on the return receipt. IO I 0101\613290.4 OocuSign Envelope ID: A8FE49O2-9C14-414B-B3C8-024C1BC284O0 14. Governing Law. This Deed of Trust shall be governed by the laws of the State of California. 15. Severability. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict will not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and the Note are declared to be severable. 16. 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. 17. Nondiscrimination. The Borrower 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 orientation, marital status, ancestry or national origin in the sale, transfer, use, occupancy, tenure or enjoyment of the Property, nor shall the Borrower or any person claiming under or through the Borrower establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use, occupancy, or transfer of the Property. The foregoing covenant shall run with the land. 18. Nonliability for Negligence, Loss or Damage. Bmrnwer acknowledges, understands and agrees that the relationship between Borrower and the City is solely that of borrower and lender, and that City neither undertakes nor assumes 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 Property or any other matter. City owes no duty of care to protect Borrower against negligent, faulty, inadequate or defective building or construction or any condition of the Property and Borrower agrees that neither Borrower, nor Borrower heirs, successors or assigns shall ever claim, have or assert any right or action against 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. 19. Indemnity. Borrower agrees to defend, indemnify, and hold City, and its officers, officials, employees and volunteers, harmless from all losses, damages, liabilities, claims, actions, j udgrnents, costs, and reasonable attorneys fees that City may incur as a direct or indirect consequence of: (a) the Loan Agreement or the making of the loan evidenced by the Note to Borrower; (b) Borrower's failure to perform any obligations as and when required by the Loan Agreement, the Note and Deed of Trust; or ( c) the failure at any time of any of Borrower's certifications, representations, or warranties to be true and correct. IO I 0\0 I \6 13290.4 DocuSign Envelope ID: A8FE49O2-9C14-414B-B3C8-024C1BC284O0 20. Acceleration; Remedies. Upon Borrower's breach of any covenant or agreement of Borrower in this Deed of Trust, the Note, or the Loan Agreement, 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 mail by express delivery, return receipt requested notice to Bonower specifying: (a) the breach; (b) the action required to cure such breach; (c) a date, not less than thirty (30) days from the date the notice is received by Borrower as shown on the return receipt, by which such breach is to be cured; and ( d) 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. The notice will also inform Borrower of 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 Borrower to acceleration and sale. If the breach 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 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) in its own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value or marketability of the Property, 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 right 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 Trustee a written declaration of default and demand for sale, pursuant to the provisions for notice of sale found at California Civil Code Sections 2924 et~-, as amended from time to time; (e) or, exercise all other rights and remedies provided herein, in the instruments by which the Borrower acquires title to any Security, or in any other document or agreement now or hereafter evidencing, creating or securing 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. 21. Borrower's Right to Reinstate. Notwithstanding the City's acceleration of the sums secured by this Deed of Trust, 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 Security 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) Borrower pays City all sums which would be then due under this Deed of Trust and no acceleration under the Note has occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Deed of Trust; (c) Borrower pays all reasonable expenses incurred by City and Trustee in enforcing the covenants and agreements of Borrower contained in this Deed of Trust, and in enforcing the City's and Trustee's remedies, including, but not limited to, reasonable attorney's fees; and (d) Borrower takes such action as City may reasonably require to assure that IO I 0\01\613290.4 DocuSign Envelope ID: A8FE49O2-9C14-4148-83C8-024C1BC284O0 the lien of this Deed of Trust, City's interest in the Security and Borrower's obligation to pay the sums secured by this Deed of Trust shall continue unimpaired. Upon such payment and cure by Borrower, this Deed of Trust and the obligations secured hereby will remain in full force and effect as if no acceleration had occurred. 22. Due on Transfer of the Property. Upon a Transfer (as defined in the Note) of the Property or any interest in it, the City shall require immediate payment in full of all sums secured by this Deed of Trust. 23. Reconvcyance. Upon payment of all sums secured by this Deed of Trust, the City will request Trustee to reconvey the Security and will surrender this Deed of Trust and the Note to Trustee. 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 ofrccordation, if any. 24. Substitute Trustee. The City, at the City's option, may from time to time remove 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. 25. Request for Notice. Borrower requests that copies of the notice of default and notice of sale be sent to Borrower at the address set forth in Section 13 above. IN WITNESS WHEREOF, Borrower has executed this Deed of Trust as of the date first written above. 4rack Signa e \U\:TttLE:6J 'tb LACK Print name Signature Print name IO I 0\01\6 I 3290.4 OocuSign Envelope ID: A8FE49O2-9C14-414B-B3C8-024C1BC284O0 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE § 1189 'X'.<i&XXJ¾',Q<',<;<',,;<-,c<,,&~£<',&-.:X'.t!XU&,/!;<'&£{'£<:-ft~.tx~i<ii'~~~OO(~~~-~-Ee-~· -~--~-c--~~ 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 Ca!i-f9rnia , Countyof 0M :D iogo On / / ~ :2. -/ UJ before me, I CA me.a, AJ01A0/ PU6U,<! Date E-l,•z/1 :7 ~n7ert 01n;tf?~ Title of the Officer personally appeared -'--;f;_.__,;q_.'--'f/J~_/4----'~'-~-Q)~---'~l--=:... i _rr,_~""-'-...:.+h~---'Q""-'N'-L..>,<JL='---------- Name~ of Signer(~ who proved to me on the basis of satisfactory evidence to be the person'('s) whose name~ is/~ subscribed to the within instrument and acknowledged to me that "AC/she/~ executed the same in 'hiG/her/tl'lelr authorized capacity[~), and that by his/her/t~ture'(aj on the instrument the person'(sl,_ or the entity upon behalf of which the personlsl acted, executed the instrument. IRMA CAZAREZ .-. Notary Public -California < ~ San Diego County ~ I Commis11on II 2153956 > , ______ .. l :0:"1 ttt'U =a1 t0.2&2e J Place Notary Seal Above I certify under PENAL TY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS m hand and official seal. Signatur ---------------OPTIONAL--------------- Though this section is optional, completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Descript1 f Attached Document Title or Type o Document Date: ________ _ Number of Pages: __ ....:::::......._ ,Signer(s) Other Than Named Above: _____________ _ Capacity(ies) Claimed by Signer Signer's Name: __________ ____:::-..::- 1· ; Corporate Officer -Title(s): ______ _ Signer's Name: ____________ _ l I Corporate Officer -Title(s): ______ _ L, Partner -!J Limited L J General r · I i Limited r • General [: Individual · 1 Attorney in Fact I Attorney in Fact I. I Trustee I i Guardian or Conservator · Guardian or Conservator LJ Other: _____________ _ Signer Is Representing: _________ _ '.<.,'<;<_'<.-,,_,<. • <. C (;{:<.;(.',_ < • ·v'<;<_'Q<.,S :, ••.:<.,'<-;'-,'Qy'Q.,'(;(;,'qv'Q<.,'{,X.~'Q(, '<i:<,,'<;;(,'(,',(,,'~,)<.,'C(,~~'<,(,~'Q(,-=~~'<,,;<;,~~~~'<;,<..~~ ©2014 National Notary Association• www.NationalNotary.org • 1-800-US NOTARY (1-800-876-6827) Item #5907 DocuSign Envelope ID: A8FE49D2-9C14-414B-B3C8-024C1BC284D0 EXHIBIT A Property Description 7373 Portage Way Carlsbad, CA 92011 1010\0 I \613290.4 A-1 OocuSign Envelope ID: A8FE49O2-9C14-414B-B3C8-024C1BC284O0 Minutes Decimal Hours 1 .02 2 .03 3 .05 4 .07 5 .08 6 .10 7 .12 8 .13 9 .15 10 .17 11 .18 12 .20 13 .22 14 .23 15 .25 16 .27 17 .28 18 .30 19 .32 20 .33 TIME CONVERSION CHART (Minutes to Decimal Hours) Minutes Decimal Minutes Hours 21 .35 41 22 .37 42 23 .38 43 24 .40 44 25 .42 45 26 .43 46 27 .45 47 28 .47 48 29 .48 49 30 .50 50 31 .52 51 32 .53 52 33 .55 53 34 .57 54 35 .58 55 36 .60 56 37 .62 57 38 .63 58 39 .65 59 40 .67 60 Decimal Hours .68 .70 .72 .73 .75 .77 .78 .80 .82 .83 .85 .87 .88 .90 .92 .93 .95 .97 .98 1.0 DocuSign Envelope ID: A8FE49D2-9C14-414B-B3C8-024C1BC284D0 ( ( MINOR HOME REPAIR LOAN AGREEMENT This Minor Home Repair Loan Agreement (the "Agreement") is made as of November 1, 2016 by and between the City of Carlsbad, (the "City") and Kathleen Black ("Bo1Tower") (individually a "Pruiy" and collectively the "Parties"), based on the following facts and intentions of the Pru-ties: RECITALS A. The City has established a minor home repair program which is funded with City Affordable Housing Trust Funds (the "Minor Home Repair Program"). The Minor Home Repair Program is limited to low income homeowner~ and is designed to maintain safe homes and attractive neighborhoods, preserve and improve the quality of the housing stock, assist people to age in place and stay in their homes, enhance the security of homes in the City. B. The Bo1Tower owns and occupies that certain residential real property and improvements thereon located at 7373 Portage Way in the City of Carlsbad more pru·ticularly desc1ibed in the attached Exhibit A (the "Home"). C. Borrower seeks to rehabilitate and improve the Home as described in the scope of work attached as Exhibit B (the "Repairs"). D. Borrower desires to participate in the Minor Home Repair Program and to borrow funds from the City to perfo1m the Repairs. E. The City desires to lend to the Bonower funds to complete the Repairs. F. The Repairs are exempt from environmental review under the California Environmental Quality Act (Public Resources Code Section 21000 et~.) pursuant to 14 CCR 15301 (Existing Facilities, including repair, maintenance and minor alterations). NOW, THEREFORE, the City and the Borrower agree as follows: ARTICLE 1 LOAN ASSISTANCE Section J . I City Loan. The City agrees to loan to the Borrower and the Borrower agrees to borrow from the City five thousand Dollru·s ($5,000) (the "Loan") for the purposes set forth in Section 1.3 of this Agreement and subject to the terms of this Agreement. The Loan is evidenced by a Promissory Note in the principal amount of the Loan (the "Note"). The Note is dated the same date as this Agreement. The Note is secured by a deed oftmst also dated the same date as this Agreement and recorded against title to the Home (the "Deed ofTrnst"). Section 1.2 Interest. The outstanding principal balance of the Loan shall bear interest as set f01th in Section 2 of the Note. 10 I 0\0J\628552.3 1 DocuSign Envelope ID: A8FE49D2-9C 14-414B-B3C8-024C 1 BC284D0 ( ( Section 1.3 Use of Loan. The Bo1rnwer shall use the Loan to pay for the Repairs described in Exhibit B. Section 1.4 Conditions Precedent to Disbursement. The City shall not be obligated to disburse any part of the Loan unless the following conditions are satisfied: (a) Ownership and Primary Place of Residence. The Borrower has delivered to the City evidence which demonstrates, to the satisfaction of the City, that the Borrower owns and occupies the Home as B01rnwer's primary place of residence. (b) Construction Plans. The City has reviewed and approved any documentation (the "Repair Plans") that the Borrower and any entity hired to complete the Repairs (the "Contractor") will rely on to perfo1m the Repairs. The Repair Plans must include a cost estimate and estimated schedule for completion of the Repairs. ( c) Approval of Contractor. The City bas approved any Contractor to be retained to constmct the Repairs. Any Contractor must be licenseq. or otherwise legally authorized to complete the Repairs. ( d) Approval of Repair Contract. The City has approved any contract (the "Repair ContJ.:act") with any Contractor retained to complete the Repairs. Any Repair Contract must include the provisions described in Section 2.1 of this Agreement. (e) Award of Repair Contract. BotTower has signed any Repair Contract for the Repairs. (f) Building and Other Permits. Bon-ower has obtained all building and other governmental permits needed to perform the Repairs. (g) Insurance. The entity responsible for performing the repairs has provided certificates of insurance for: (1) Worker's Compensation Insurance, ifrequired by law, with limits not less than required by law. (2) Comprehensive General Liability Insurance, if appropriate for the Repairs, with limits not less than One Million Dollars ($1,000,000) each occunence combined single limit for Bodily Injury and Prope1ty Damage. (3) Such other insurance as is required by Section 5 of the Deed of Trust. (h) Default. The Borrower is not in Default as described in Section 4.1. (i) Execution of Note and Deed of Trust. Borrower has executed the Note and Deed of Trust in favor of the City and the Deed of Trust has been recorded against title to the Home. IO 10\01\628552.3 2 DocuSign Envelope ID: A8FE49O2-9C 14-414B-B3C8-024C 1 BC284D0 ( Section 1.5 Disbursement Request. Upon completion of the Repairs, B01TOwer shall submit: ( a) a copy of a bills or invoices for the cost of completing all of the Repairs; (b) where appropriate, lien releases reasonably acceptable to the City; and (c) the Contractor's certification that the work billed has been completed. City shall have the right, but not the obligation, to verify that the Repairs have been completed. The City may, in its discretion, disburse the amount requested to the Bonower or directly to the third party who prepared the bill or submitted the invoice. Section 1.6 Completion of Repairs, Disbursement Deadline. The Bo1Tower shall provide the City with the Contractor's certification that the work billed has been completed by no later than 90 days or this Agreement, and the City's obligation to disburse all or any portion of the Loan, shall immediately te1minate. Section 1.7 Repayment Schedule (a) Term. The Loan shall have a term commencing on the date of this Agreement and expiring five (5) years from the date of this Agreement (the "Term"). (b) faith in the Note. Repayment and Forgiveness. The Loan shall be payable to the City as set Section 1.8. Cost of the Repairs. The City malces no representation that the Loan will pay for all costs of the Repairs. ARTICLE2 COMPLETION OF REP AIRS Section 2.1 Repair Contracts. The following provision shall be included in all Repair Contracts for the Repairs: "There may be no discrimination on the basis ofrace, color, creed, religion, sex, sexual orientation, marital status, national origin, ancestry, or handicap in the hiring, firing, promoting, or demoting of any person engaged in work related to the Repairs." Section 2.2 Construction Responsibilities. The Borrower is solely responsible for performance of the Repairs, including the quality and suitability of the Repair Plans and the Conh·actor. Any review by the City is not a warranty by the City of the quality or suitability of the Repair Plans and Contractor and is for the sole purpose of dete1mining whether the Bonower has complied with this Agreement. ARTICLE 3 USE OF HOME Section 3.1 Compliance with Laws. The Borrower agrees, during the perfotmance of the Repairs and throughout the Term of the Loan, to maintain the Home in full compliance with all applicable local, state, and federal laws and regulations. I 010\01\628552.3 3 DocuSign Envelope ID: A8FE49D2-9C14-414B-B3C8-024C1BC284D0 I Section 3.2 Owner Occupancy. The Bonower agrees to comply with the owner occupancy requirements and leasing restrictions set forth in Section 7 of the Note. Section 3.3 Refinance; Junior Loans and Equity Lines of Credit. The Borrower agrees to comply with the refinance and loan provisions of Section 6 of the Note. Section 3.4 Compliance with Note and Deed of Trust. The Borrower agrees, during the Tem1, to comply with the terms and conditions of the Note and Deed of Trust, including but not limited to the obligation to maintain the Home in good condition and repair and the obligations concerning transfer of the Home. Section 3 .5 Hazardous Materials. The Bonower shall not use, generate, manufacture, store, or dispose of, on, under, or about the Home any substances defined as or included in the definition of "hazardous substances," "hazardous wastes," "hazardous materials," or "toxic substances" under any applicable federal or state laws or regulations except in conformance with all applicable federal and state laws and regulations. Section 3.6 Records. The Bonower shall maintain complete and accurate records relating to the construction and maintenance of the Repairs for the Term of the Loan and shall permit any duly authorized representative of the City to inspect and copy the records. The records shall include all invoices, receipts, and other documents related to expenditures from the Loan. Section 3.7 Entry and Inspection by City. After notice to the B01rower, the Borrower shall permit the City, through its officers, agents, or employees, at all reasonable times, throughout the Term of the Loan, to enter onto the Home to inspect the Repairs and Home for compliance with this Agreement. ARTICLE4 DEFAULT AND REMEDIES Section 4.1 under this Agreement: Events of Default. The following shall constitute a "Default" by Borrower (a) Failure to Make Payment. Bonower fails to repay the principal or interest on the Loan as specified in the Note. (b) Misrepresentation. Bonower makes a material misrepresentation in connection with the Loan and this Loan Agreement, the Note or the Deed of Trust. (c) Failure to Comply with Covenants. Borrower breaches any covenant made in this Loan Agreement in any material respect, subject to the notice and cure periods set f01th in the Deed of Trust. Section 4.2 Assignment. Borrower(s) acknowledge(s) that this Loan is given in connection with the City's Minor Home Repair Program, which is targeted to low income households and homes within the City. Pursuant to such program, the Loan must be repaid by the 1010\01\628552.3 4 DocuSign Envelope ID: A8FE49D2-9C14-414B-B3C8-024C1BC284D0 Bo1TOwer and may not be assumed by a subsequent transferee. Consequently, this Agreement is not assumable by transferees. Section 4.3 Remedies. If Borrower Defaults under any of the provisions of this Agreement, the City shall have the right to proceed with any and all of the remedies or proceedings at law or equity, including without limitation the right to accelerate the Note, sue for specific perfo1mance, and cure any default by Borrower; provided however that the Borrower agrees to reimburse the City for any costs of cure incuned by the City plus interest thereon in accordance with the Note. No right, power, or remedy given to the City by the terms of this Agreement or the Note or Deed of Trust is intended to be exclusive of any other right, power, or remedy; and each and every such right, power, or remedy shall be cumulative and in addition to every other right, power, or remedy given to the City by the terms of any such instrwnent, or by any statute or otherwise against Borrower and any other person. Neither the failure nor any delay on the pa1t of the City to exercise any such rights and remedies shall operate as a waiver thereof, nor shall any single or pa11ial exercise by the City of any such right or remedy preclude any other exercise or any further exercise of such right or remedy, or any other right or remedy. ARTICLES GENERAL PROVISIONS Section 5.1 Notices. Notices to the City or Borrower required to be given under this Agreement shall be given in the manner described in Section 13 of the Deed of Trust. Section 5.2 Relationship of Parties. Nothing contained in this Agreement shall be deemed or construed by the Patties or any third patty to create the relationship of pattners or joint venturers between the City and the Borrower. Section 5.3 State Law. This Agreement shall be construed and enforced in accordance with the laws of the State of California. Section 5.4 Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions shall continue in full force and effect unless the rights and obligations of the Patties have been materially altered or abridged by such invalidation, voiding or unenforceability. Section 5.5 Entire Agreement; Amendments. This Agreement, the Note and the Deed of Trust constitute the entire and integrated agreement of the City and the Borrower. This Agreement may be amended only by written instrument executed by the City and the Borrower. Section 5.6 Assignment by City: Appointment ofDesignee. The City may assign all or any portion of its rights and obligations under the Loan Agreement, the Note or the Deed of Trust to any person upon notice to the Borrower. In addition, the City may contract with and/or designate a third party to administer its rights and obligations under the, Loan Agreement, the Note, or the Deed of Trust. IN WITNESS WHEREOF, this Agreement has been executed as of the date set forth in the opening paragraph of this Agreement. !010\01\628552.3 5 DocuSign Envelope ID: A8FE49D2-9C14-414B-B3C8-024C1BC284D0 By: _________ _ Its: ---------- 10 I 0\01 \628552.3 6 • DocuSign Envelope ID: A8FE49O2-9C 14-414B-B3C8-024C 1 BC284D0 EXIIlBIT A Description of the Home 7373 Portage Way, Carlsbad, CA 92011 I 010\0J \628552.3 A-1 DocuSign Envelope ID: A8FE49O2-9C14-414B-B3C8-024C1BC284D0 ( EXHIBIT B Description of Repairs • Remove existing door, flooring, fixtures, and toilet • Acquire tile for bathroom of 250 sq.ft. • Acquire new corner sink and wall taps • Acquire new shower overhead • Acquire new toilet to accommodate space limitations • Acquire new door • Obtain city permit I 010101\628552.3 B-1