The URL can be used to link to this page

Home My WebLink AboutDeed 1337 �; ' 1337 DOC # 2010-0092861 i • � RECOHDINO REQUESIED BY: , 1 FlRSTAMERICANTITLECOMPANY �QC # G�j � � �� NATiONAI HOMEBUILDER SERVICE8 g�gp�y� pEpqp�� 03/02/2010 08 : 00A Fee : NC , a y r O 6- Page 1 of 21 8 � Recorded in Official Records County of Riverside REQUESTED BY l.arry w. ward AND WHEN RECORDED MAIL TO Assessor , County Clerk & Recorder . IIIII IIIIII IIIIII IIIII III IIII� IIII IIII , I �IIIII IIIIIII III Redevelopment Agency of the 4 City of Cathedral City 68-700 Avenida Lalo Guerrero Cathedral City, CA 92234 Attention: City Clerk I q W r `'s S.. £��,:b NO FEE – PUBLIC AGENCY RECORD g R U PAGE SIZE DA MISC LONG RFD COPY � 1 � PCOR NCOR SMF EXAM A L 465 426 �� T: CTY UNI DEED OF TRUST AND ASSIGNMENT OF RENTS, �— T SECURITY AGREEMENT AND FIXTURE FILING 051 (CONDO PROPERTI� THIS DEED OF TRUST, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING ("Deed of Trust") has a reference date of �e1� �, Z(o , 2010, and becomes effective on the date when Trustor executes it, and is by CATHEDRAL ROUP Ltd, a Texas limited partnership ("Trustor"), to FIRST AMERICAN TITLE COMPANI', a corporation, as Trustee, ("Trustee"), for the benefit of the REDEVELOPMENT AGENCY OF THE CITY OF CATHEDRAL CITY, a public entity, corporate and politic, as Beneficiary ("Beneficiary"). ARTICLE 1. GRANT IN TRUST 1.1 GRANT. For the purposes of and upon the terms and conditions in this Deed of Trust, Trustor irrevocably grants, conveys and assigns to Trustee, in trust for the benefit of Beneficiary, with power of sale and right of entry and possession, all of Trustor's leasehold or other interest in that real property located in the City of Cathedral City, County of Riverside, State of California, described on Exhibit A attached hereto, which is incorporated herein by reference, together with all right, title, interest and privileges of Trustor, if any, in and to all streets, ways, roads and alleys I used in connection with or pertaining to such real property, and together with all development �i rights or credits, air rights, water, water rights and water stock related to such real property, and all appurtenances, easements, rights and rights of way appurtenant or related thereto; all buildings, other improvements and fixtures now or hereafter located on the real property, including, but not limited to, all apparatus, eyuipment, and appliances used in the operation or occupancy of the real I property, it being intended by the parties that all such items shall be conclusively considered to be a part of the real property, whether or not attached or affixed to the real property (the "Improvements"); all interest or estate which Trustor may hereafter acquire in the property described above, as well as any and all options to purchase or to extend lease terms, and all additions and accretions thereto, and the proceeds of any of the foregoing; (all of the foregoing Page 1 � . � , � ' � � � � being collectively referred to as the "Subject Property"). The listing of specific rights or property � shall not be interpreted as a limit of general terms. � � � � ARTICLE 2. OBLIGATIONS SECURED � 2.1 OBLIGATIONS SECURED. Trustor makes this Deed of Trust for the purpose of securing the � following obligations ("Secured Obligations"): � d � (a) Payment to Beneficiary of all sums at any time owing under that certain Promissory Note � ("Note") of even date herewith, in the principal amount of TWO MILLION FOUR � HUNDRED THOUSAND AND 00/100THS DOLLARS ($2,400,000.00) executed by ' Trustor, as borrower, and payable to the order of Beneficiary, as lender; and � (b) Payment and performance of all covenants and obligations of Trustor under this Deed of � Trust; and (c) Payment and performance of all covenants and obligations on the part of Trustor under (i) that certain Loan Agreement ("Loan Agreement") of even date herewith, by and between � Trustor and Beneficiary; and (ii) each other document referenced in the Loan Agreement and pertaining to the Subject Property as to which Trustor is a party. All of said � documents, together with the Note and the Loan Agreement shall be referred to herein as the "Security Documents." � (d) Payment and performance of all future advances and other obligations that the then � record owner of all or part of the Subject Property may agree to pay and/or perform � (whether as principal, surety or guarantor) for the benefit of Beneficiary, when such � future advance or obligation is evidenced by a writing which recites that it is secured by this Deed of Trust; and � � � (e) All modifications, extensions and renewals of any of the obligations secured hereby, � however evidenced, including, without limitation: (i) modifications of the required � principal payment dates or interest payment dates or both, as the case may be, deferring � or accelerating payment dates wholly or partly; or (ii) modifications, extensions or ', � renewals at a different rate of interest whether or not in the case of a note, the � modification, extension or renewal is evidenced by a new or additional promissory note , or notes. i � (� At Beneficiary's sole option, a default by Trustor in any one or more of the obligations I � referenced in Sections 2.1.(a) through (e), inclusive, shall be a default in each and every ,, � one of said obligations, entitling Trustor to exercise any and all remedies contained in �I any and all of said obligations. � , _ a � 2.2 OBLIGATIONS. The terr� "obligations" is used herein in its broadest and most comprehensive � sense and shall be deemed to include, without limitation, all interest and charges, prepayment � Page 2 � � € I � charges, late charges and loan fees at any time accruing or assessed on any of the Secured Obligations. � � 2.3 INCORPORATION. All terms of the Secured Obligations and the Security Documents evidencing such obligations are incorporated herein by this reference. Terms not defined herein shall have the meaning ascribed to them in the Loan Agreement. � ARTICLE 3. ASSIGNMENT OF LEASES AND RENTS 3.1 ASSIGNMENT. Trustor hereby irrevocably assigns to Beneficiary all of Trustor's right, title and interest in, to and under: (a) all leases of the Subject Property or any portion thereof from the fee owners thereof to Trustor or from Trustor to any other pariy, all licenses and agreements relating to the management, leasing or operation of the Subject Property or any portion thereof, and all other agreements of any kind relating to the use or occupancy of the Subject Properly or any portion thereof, whether now existing ar entered into after the date hereof ("Leases"); and (b) the rents, issues, deposits and profits of the Subject Properiy, including, without limitation, all amounts payable and all rights and benefits accruing to Trustor under the Leases ("Payments"). The term "Leases" shall also include all guarantees of and security for the lessees' performance thereunder, and all amendments, extensions, renewals or modifications thereto which are permitted thereunder. This is a present and absolute assignment, not an assignment for security purposes only, and Beneficiary's right to the Leases and Payments is not contingent upon, and may be exercised without possession of, the Subject Property. Trustor further assigns to Beneficiary all of Trustor's rights in and to Net Proceeds (as defined in the Loan Agreement) of the sale of any of the individual condominium units for the time and to the extent provided in the Loan Agreement. 3.2 GRANT OF LICENSE. Beneficiary confers upon Trustor a license ("License") to collect and ', retain the Payments and/or the Net Proceeds as they become due and payable, until the occurrence ' of a Default (as hereinafter defined). Upon a Default, the License shall be automatically revoked ', and Beneficiary may collect and apply the Payments and/or the Net Proceeds pursuant to Section !, 6.4 without notice and without taking possession of the Subject Property. Trustor hereby �� irrevocably authorizes and directs the lessees having payment obligations to Trustor under the fi Leases to rely upon and comply with any notice or demand by Beneficiary for the payment to i Beneficiary of any rental or other sums which may at any time become due under the Leases, or for the performance of any of the lessees' undertakings under the Leases, and the lessees shall have no right or duty to inquire as to whether any Default has actually occurred or is then existing E hereunder. Trustor hereby relieves the lessees from any liability to Trustor by reason of relying � upon and complying with any such notice or demand by Beneficiary. � � 3.3 EFFECT OF ASSIGNMENT. The foregoing irrevocable Assignment shall not cause Beneficiary � to be: (a) a mortgagee m possession; (b) responsible or liable for the control, care, management or � repair of the Subject Property or for performing any of the terms, agreements, undertakings, obligations, representations, warranties, covenants and conditions of the Leases; or (c) responsible � or liable for any waste committed on the Subject Properly; for any dangerous or defective � condition of the Subject Property; or for any negligence in the management, upkeep, repair or � control of the Subject Property resulting in loss or injury or death to any Lessee, licensee, employee, invitee, patron or other person. Beneficiary and Trustee shall not directly or indirectly Page 3 � � • � � � . ' ' , � be liable to Trustor or any other person as a consequence of: (i) the exercise or failure to exercise any of the rights, remedies or powers granted to Beneficiary or Trustee hereunder; or (ii) the failure or refusal of Beneficiary to perform or discharge any obligation, duty or liability of Trustor arising under the Leases. 3.4 INTENTIONALLY OMITTED. . � � 3.5 COVENANTS. Trustor covenants and agrees at Trustor's sole cost and expense to: (a) perform all of its obligations under the Leases and to take all action necessary to maintain the Leases in effect � on their terms; and (b) give Beneficiary prompt written notice of any default which occurs with respect to any of the Leases, whether the default be that of the lessee or of the lessor. Trustor shall � not, without Beneficiary's prior written consent: (i) terminate, modify or amend any of the terms � of the Leases or in any manner release or discharge its rights thereunder ; or (ii) subordinate or � agree to subordinate any of the Leases to any other deed of trust or encumbrance. Any such � attempted action in violation of the provisions of this Section 3.5 shall be null and void. � ARTICLE 4. SECURITY AGREEMENT AND FIXTURE FILING � 4.1 SECURITY INTEREST. Trustor hereby grants and assigns to Beneficiary a security interest, to g secure payment and performance of all of the Secured Obligations, in all of the following described personal property in which Trustor now or at any time hereafter has any interest (collectively, the "Collateral"): All goods, building and other materials, supplies, work in process, equipment, machinery, fixtures, furniture, furnishings, signs and other personal property and embedded software therein, wherever situated, which are or are to be incorporated into, used in connection with, or appropriated for use on (i) the real property described on Exhibit A attached hereto and incorporated by reference herein (to the extent the same are not effectively made a part of the real property pursuant to Section 1.1 above) or (ii) the Improvements (which real property and Improvements are collectively referred to herein as the Subject Property); together with all rents, issues, deposits and profits of the Subject Property; all inventory, accounts, cash receipts, deposit � accounts, accounts receivable, contract rights, general intangibles, chattel paper (whether electronic or tangible), instruments, documents, notes, drafts, letters of credit, letter of credit � rights, supporting obligations, insurance policies, insurance and condemnation awards and � proceeds, any other rights to the payment of money, trade names, trademarks and service marks I arising from or related to the Subject Property or any business now or hereafter conducted I thereon by Trustor all permits consents, approvals, licenses, authorizations and other rights �I granted by, given by or obtained from, any governmental entity with respect to the Subject ', Property; all of Trustor's right, title and interest under the Loan Agreement; all deposits or other � security now or hereafter made with or given to utility companies by Trustor with respect to the � Subject Property; all advance payments of insurance premiums made by Trustor with respect to the Subject Property; all plans, drawings and specifications relating to the Subject Property; all loan funds held by Beneficiary, whether or not disbursed; all funds deposited with Beneficiary pursuant to the Loan Agreement or any other Security Documents; all reserves, deferred � payments, deposits, accounts, refunds and payments of any kind related to the Subject Property or Page 4 � � � • ' , ' � � any portion thereof; together with all replacements and proceeds of, and additions and accessions to, any of the foregoing; together with all books, records and files relating to any of the foregoing; and any hotel franchise agreement and/or hotel management agreement between Trustor and any third pariy. As to all of the above described personal property which is or which hereafter becomes a "fixture" under applicable law, this Deed of Trust constitutes a fixture filing under Sections 9102(a)(40) and 9502 of the California Uniform Commercial Code, as amended or recodified from time to time. � 4.2 REPRESENTATIONS AND WARRANTIES. Trustor represents and warrants that: (a) Trustor � has, or will have, good title to the Collateral; (b) Trustor has made no presently effective assignment or encumbrance of the Collateral, and no financing statement covering any of the Collateral has been � delivered to any other person or entity; and (c) Trustor's principal place of business is located at the � address shown in Section 7.11. � � 4.3 RIGHTS OF BENEFICIARY. In addition to Beneficiary's rights as a"Secured Party" under the California Uniform Commercial Code, as amended or recodified from time to time ("UCC"), � Beneficiary may, but shall not be obligated to, at any time without notice and at the expense of Trustor: (a) give notice to any person of Beneficiary's rights hereunder and enforce such rights at law or in equity; (b) insure, protect, defend and preserve the Collateral or any rights or interests of Beneficiary therein; (c) inspect the Collateral; and (d) upon the occurrence of a Default, endorse, collect and receive any right to payment of money owing to Trustor under or from the Collateral. Notwithstanding the above, in no event shall Beneficiary be deemed to have accepted any property � other than cash in satisfaction of any obligation of Trustor to Beneficiary unless Beneficiary shall , make an express written election of said remedy under UCC §9607, or other applicable law. � 4.4 RIGHTS OF BENEFICIARY ON DEFAULT. Upon the occurrence of a Default under this ' ; Deed of Trust, then in addition to all of Beneficiary's rights as a"Secured Party" under any ', � Security Document, the UCC or otherwise at law: �, � �� 0 (a) Beneficiary may (i) upon written notice, require Trustor to assemble any or all of the ' Collateral and make it available to Beneficiary at a place designated by Beneficiary; (ii) without prior notice, enter upon the Subject Property or other place where any of the � Collateral may be located and take possession of, collect, sell, and dispose of any or all of the Collateral, and store the same at locations acceptable to Beneficiary at Trustor's expense; (iii) sell, assign and deliver at any place and in any lawful manner all or any part t of the Collateral and bid and become purchaser at any such sales; and � , � (b) Beneficiary may, for the account of Trustor and at Trustor s expense: (i) operate, use, � consume, sell or dispose of the Collateral as Beneficiary deems appropriate for the �` purpose of performing any or all of the Secured Obligations; (ii) enter into any [ agreement, compromise, or settlement, including insurance claims, which Beneficiary may deem desirable or proper with respect to any of the Collateral; and (iii) endorse and deliver evidences of title for, and receive, enforce and collect by legal action or F Page 5 � . , � � , , otherwise, all indebtedness and obligations now or hereafter owing to Trustor in connection with or on account of any or all of the Collateral. � a f � (c) Notwithstanding any other provision hereof, Beneficiary shall not be deemed to have accepted any property other than cash in satisfaction of any obligation of Trustor to � Beneficiary unless Trustor shall make an express written election of said remedy under � UCC §9607, or other applicable law. � '�� 4.5 POWER OF ATTORNEY. Trustor hereby irrevocably appoints Beneficiary as Trustor's � attorney-in-fact (such agency being coupled with an interest), and as such attorney-in-fact Beneficiary may, without the obligation to do so, in Beneficiary's name, or in the name of Trustor, � prepare, execute and file or record financing statements, continuation statements, applications for registration and like papers necessary to create, perfect or preserve any of Beneficiary's security � interests and rights in or to any of the Collateral, and, upon a Default hereunder, take any other action required of Trustor herein; provided, however, that Beneficiary as such attorney-in-fact shall � be accountable only for such funds as are actually received by Beneficiary. � 4.6 POSSESSION AND T x USE OF COLLA ERAL. E cept as otherwise provided m this Section or the other Loan Documents, so long as no Default exists under this Deed of Trust or any of the Loan Documents, Trustor may possess, use, move, transfer or dispose of any of the Collateral in the ordinary course of Trustor's business and in accordance with the Loan Agreement. i � F � ° ARTICLE 5. RIGHTS AND DUTIES OF THE PARTIES ' � ' 5.1 TITLE. Trustor represents and warrants that, except as disclosed to Beneficiary in a writing which ', � refers to this wananty, Trustor lawfWly holds and possesses a valid fee ownership interest to the ', � Subject Property without limitation on the right to encumber, and this Deed of Trust is a first and I, � prior lien on the Subject Property. '�' E � � 5.2 TAXES AND ASSESSMENTS. Subject to Trustor's rights to contest payment of taxes as may be I provided in the Loan Agreement, Trustor shall pay prior to delinquency all taxes, assessments, ' ! levies and charges imposed by any public or quasi-public authority or utility company which are or I which may become a lien upon or cause a loss in value of the Subject Property or any interest I therein. Trustor shall also pay prior to delinquency all taxes, assessments, levies and charges imposed by any public authority upon Beneficiary by reason of its interest in any Secured � Obligation or in the Subject Property, or by reason of any payment made to Beneficiary pursuant to I, any Secured Obligation; provided, however, Trustor shall have no obligation to pay taxes which � may be imposed from time to time upon Beneficiary and which are measured by and imposed upon j Beneficiary's net income. ' � S � 5.3 TAX AND INSURANCE IMPOUNDS. From and after the first occurrence of a Default, at � Beneficiary's option and upon its demand, Trustor shall, until all Secured Obligations have been � Page 6 � � � � paid in full, pay to Beneficiary monthly, annually or as otherwise directed by Beneficiary an amount estimated by Beneficiary to be equal to: (a) all ta�ces, assessments and levies imposed by � any public or quasi-public authority or utility company which are or may become a lien upon the Subject Property and will become due for the tax year during which such payment is so directed; � and (b) premiums for fire, other hazard and mortgage insurance next due. If Beneficiary determines � that any amounts paid by Trustor are insufficient for the payment in full of such taxes, assessments, levies and/or insurance premiums, Beneficiary shall notify Trustor of the increased amounts required to pay all amounts due, whereupon Trustor shall pay to Beneficiary within thirty (30) days , � thereafter the additional amount as stated in Beneficiary's notice. All sums so paid shall not bear interest, except to the extent and in any minimum amount required by law; and Beneficiary shall, unless Trustor is otherwise in Default hereunder or under any Secured Obligation, apply said funds ' to the payment of, or at the sole option of Beneficiary release said funds to Trustor for the � application to and payment of, such sums, taxes, assessments, levies, charges, and insurance premiums. Upon Default by Trustor hereunder or under any Secured Obligation, Beneficiary may apply all or any part of said sums to any Secured Obligation and/or to cure such Default, in which event Trustor shall be required to restore all amounts so applied, as well as to cure any other events or conditions of Default not cured by such application. Upon assignment of this Deed of Trust, Beneficiary shall have the right to assign all amounts collected and in its possession to its assignee whereupon Beneficiary and its Trustee shall be released from all liability with respect thereto, provided that such assignee has assumed all of Beneficiary's obligations under the Loan Agreement and Security Documents accruing after the date of such assignment. � 5.4 PERFORMANCE OF SECURED OBLIGATIONS. Trustor shall promptly pay and perform each Secured Obligation when due. 5.5 LIENS, ENCUMBRANCES AND CHARGES. Trustor shall immediately discharge any lien not approved by Beneficiary in writing that has or may attain priority over this Deed of Trust. Trustor shall pay when due all obligations secured by or reducible to liens and encumbrances which shall now or hereafter encumber or appear to encumber all or any part of the Subject Property or any � interest therein, whether senior or subordinate hereto. 5.6 DAMAGES; INSURANCE AND CONDEMNATION PROCEEDS. (a) The following (whether now existing or hereafter arising) are all absolutely and irrevocably assigned by Trustor to Beneficiary and, at the request of Beneficiary, shall be � paid directly to Beneficiary: (i) all awards of damages and all other compensation payable directly or indirectly by reason of a condemnation or proposed condemnation for � public or private use affecting all or any part of, or any interest in, the Subject Property; ' � (ii) al( other claims and awards far damages to, or decrease in value of, all or any part of, or any interest in, the Subject Property; (iii) all proceeds of any insurance policies � payable by reason of loss sustained to all or any part of the Subject Property; and (iv) all interest which may accrue on any of the foregoing. Subject to applicable law, and without � regard to any requirement contained in Section 5.7(d), Beneficiary may at its reasonable discretion apply all or any of the proceeds it receives to its expenses in settling, � prosecuting or defending any claim and may apply the balance to the Secured Obligations '', in any order, and/or Beneficiary may release all or any part of the proceeds to Trustor �i� � upon any conditions Beneficiary may impose. Beneficiary may commence, appear in, ! � Page 7 !� � I � I � ` defend or prosecute any assigned claim or action and may adjust, compromise, settle and collect all claims and awards assigned to Beneficiary; provided, however, in no event shall Beneficiary be responsible for any failure to collect any claim or award, regardless : of the cause of the failure, including, without limitation, any malfeasance or nonfeasance � by Beneficiary or its employees or agents. � � � b At its sole o tion Beneficia ma ermit insurance roceeds held b Beneficia to be � �) P � rY Y P P Y rY � used for repair or restoration, but may condition such application upon reasonable � conditions, including, without limitation: (i) the deposit with Beneficiary of such �! additional funds which Beneficiary determines are needed to pay all costs of the repair or 9 � restoration, (including, without limitation, taxes, financing charges, insurance and rent during the repair period); (ii) the establishment of an arrangement for lien releases and � disbursement of funds acceptable to Beneficiary; (iii) the delivery to Beneficiary of plans � and specifications for the work, a contract for the work signed by a contractor acceptable to Beneficiary, a cost breakdown for the work and a payment and performance bond for � the work, all of which shall be reasonably acceptable to Beneficiary; and (iv) the delivery to Beneficiary of evidence acceptable to Beneficiary (aa) that after completion of the work the income from the Subject Property will be sufficient to pay all expenses and debt service far the Subject Properly; (bb) of the continuation of Leases acceptable to and required by Beneficiary; (cc) that upon completion of the work, the net rentable area and total value of the Subject Property will be at least as great as it was before the damage occurred; (dd) that there has been no material adverse change in the financial condition or credit of Trustor since the date of this Deed of Trust; and (ee) of the satisfaction of any � additional conditions that Beneficiary may reasonably establish to protect its security. � Trustor hereby acknowledges that the conditions described above are reasonable. � 5.7 MAINTENANCE AND PRESERVATION OF THE SUBJECT PROPERTY. Trustor covenants: (a) to insure the Subject Property against such risks as Beneficiary may require and, at Beneficiary's request, to provide evidence of such insurance to Beneficiary, and to comply with the requirements of any insurance companies insuring the Subject Property; (b) to keep the Subject Properiy in good condition and repair; (c) not to remove or demolish the Subject Properiy or any ', part thereof, not to alter, restore or add to the Subject Property, and not to initiate or acquiesce in ' any change in any zoning or other land classification which affects the Subject Property without '�, � ° Beneficiary's prior written consent or as provided in the Loan Agreement; (d) to complete or ', restore promptly and in good and workmanlike manner the Subject Properiy, or any part thereof �I� � which may be damaged or destroyed, without regard to the adequacy of insurance proceeds; (e) to '' � materially comply with all laws, ordinances, regulations and standards, and all covenants, I� � conditions, restrictions and equitable servitudes, whether public or private, of every kind and ' character which affect the Subject Property and pertain to acts committed or conditions existing I I I � thereon, mcluding, without limitation, any work, alteration, improvement or demolition mandated by such laws, covenants or requirements; (fl not to commit or permit waste of the Subject Property � or Collateral; and (g) to do all other acts which from the character or use of the Subject Property � � may be reasonably necessary to maintain and preserve its value. � 5.8 DEFENSE AND NOTICE OF LOSSES CLAIMS AND ACTIONS. At Trustor's s � , ole expense, � Trustor shall protect, preserve and defend the Subject Property and Collateral and title to and right � of possession of the Subject Property and Collateral, the security hereof and the rights and powers E of Beneficiary and Trustee hereunder against all adverse claims. Trustor shall give Beneficiary and � � Page 8 � � � � � j the performance of Trustee's duties hereunder and to reasonable compensation for such of Trustee's services hereunder as shall be rendered. TRUSTOR WILL, FROM TIME � TO TIME, PAY THE COMPENSATION DUE TO TRUSTEE HEREUNDER AND � REIMBURSE TRUSTEE FOR, AND INDEMNIFY AND HOLD HARMLESS � TRUSTEE AGAINST, ANY AND ALL LIABILITY AND EXPENSES WHICH MAY � BE INCURRED BY TRUSTEE IN THE PERFORMANCE OF TRUSTEE'S DUTIES. � � (d) All moneys received by Trustee shall, until used or applied as herein provided, be held in � trust for the purposes for which they were received, but need not be segregated in any � manner from any other moneys (except to the extent required by applicable law) and � Trustee shall be under no liability for interest on any moneys received by Trustee � hereunder. � , � � � (e) Should any deed, conveyance, or instrument of any nature be required from Trustor by � any Trustee or substitute Trustee to more fully and certainly vest in and confirm to the � Trustee or substitute Trustee such estates, rights, powers, and duties, then, upon request by the Trustee or substitute Trustee, any and all such deeds, conveyances and instruments shall be made, executed, acknowledged, and delivered and shall be caused to be recorded A and/or filed by Trustor. � � (fl By accepting or approving anything required to be observed, performed, or fulfilled or to � be given to Trustee pursuant to the Loan Agreement and/or the Security Documents, including without limitation, any deed, conveyance, instrument, officer's certificate, ; balance sheet, statement of profit and loss or other financial statement, survey, appraisal, � or insurance policy, Trustee shall not be deemed to have warranted, consented to, or # affirmed the sufficiency, legality, effectiveness, or legal effect of the same, or of any � term, provision, or condition thereof, and such acceptance or approval thereof shall not be � or constitute any warranty or affirmation with respect thereto by Trustee. � � 5.10 COMPENSATION; EXCULPATION; INDEMNIFICATION. 3 � 1 � (a) Trustor shall pay Trustee's fees and reimburse Trustee for expenses in the administration of this trust, including reasonable attorneys' fees. Trustor shall pay to Beneficiary � reasonable compensation for services rendered concerning this Deed of Trust, including, without limitation, any statement of amounts owing under any Secured Obligation. � Beneficiary shall not directly or indirectly be liable to Trustor or any other person as a � consequence of (i) the exercise of the rights, remedies or powers granted to Beneficiary � in this Deed of Trust; (ii) the failure or refusal of Beneficiary to perform or discharge any obligation or liability of Trustor under any agreement related to the Subject Property or � under this Deed of Trust; or (iii) any loss sustained by Trustor or any third party resulting � from Beneficiary's failure to lease the Subject Property after a Default or from any other � act or omission of Beneficiary in managing the Subject Property after a Default unless the , � loss is caused by the gross negligence or willful misconduct of Beneficiary and no such j � liability shall be asserted against or imposed upon Beneficiary, and all such liability is ' hereby expressly waived and released by Trustor. j � l � '� � Page 10 � � I s E � . � � (b) Trustor indemnifies Trustee and Beneficiary against, and holds Trustee and Beneficiary � harmless from, all losses, damages, liabilities, claims, causes of action, judgments, court � costs, attorneys' fees and other legal expenses, cost of evidence of title, cost of evidence � of value, and other expenses which either may suffer or incur: (i) by reason of this Deed � of Trust; (ii) by reason of the execution of this trust or in performance of any act required � or permitted hereunder or by law; (iii) as a result of any failure of Trustor to perform � Trustor's obligations; or (iv) by reason of any alleged obligation or undertaking on Beneficiary's part to perform or discharge any of the representations, warranties, � conditions, covenants or other obligations contained in any other document related to the � Subject Property. The above obligation of Trustor to indemnify and hold harmless � Trustee and Beneficiary shall survive the release and cancellation of the Secured Obligations and the release and reconveyance or partial release and reconveyance of this � Deed of Trust. � (c) Trustor shall pay all amounts and indebtedness arising under this Section 5.10 � immediately upon demand by Trustee or Beneficiary together with interest thereon from � the date of such demand at the rate of interest then applicable to the principal balance of � the Note as specified therein. � 5.11 SUBSTITUTION OF TRUSTEES. From time to time b a writin si ned and acknowled ed b � � Y g� g g Y Beneficiary and recorded in the Office of the Recorder of the County in which the Subject Property � is situated, Beneficiary may appoint another trustee to act in the place and stead of Trustee or any � successor. Such writing shall set forth any information required by law. The recordation of such � instrument of substitution shall discharge Trustee herein named and shall appoint the new trustee � as the trustee hereunder with the same effect as if originally named Trustee herein. A writing recorded pursuant to the provisions of this Section 5.11 shall be conclusive proof of the proper � substitution of such new Trustee. � � 5.12 DUE ON SALE OR ENCUMBRANCE. Except as otherwise provided in the Loan Agreement, if � the Subject Property or any interest therein, or if any portion of the limited partnership interests of � Trustor, or limited liability company interests in the managing partner of Trustor, shall be sold, transferred, mortgaged, assigned, further encumbered or leased, whether directly or indirectly, � whether voluntarily, involuntarily or by operation of law, without the prior written consent of � Beneficiary, THEN Beneficiary, in its sole discretion, may declare all Secured Obligations ' � immediately due and payable. I C '� � � I I 5.13 RELEASES, EXTENSIONS, MODIFICATIONS AND ADDITIONAL SECURITY. Without ' notice to or the consent, approval or agreement of any persons or entities having any interest at any I time in the Subject Property or in any manner obligated under the Secured Obligations ("Interested j � Parties"), Beneficiary may, from time to time, release any person or entity from liability for the payment or performance of any Secured Obligation, take any action or make any agreement � extending the maturity or otherwise altering the terms or increasing the amount of any Secured � Obligation, or accept additional security or release all or a portion of the Subject Properly and other € security for the Secured Obligations. None of the foregoing actions shall release or reduce the � personal liability of any of said Interested Parties, or release or impair the priority of the lien of this Deed of Trust upon the Subject Property and Collateral. s � � Page 11 � � � � 5.15 RECONVEYANCE. A. Upon Beneficiary's written request, and upon surrender to Trustee for cancellation of this Deed of Trust or a certified copy thereof and any note, instrument, or instruments setting forth all obligations secured hereby, Trustee shall reconvey, without warranty, the Subject Property � or that portion thereof then held hereunder. To the extent permitted by law, the reconveyance may describe the grantee as "the person or persons legally entitled thereto" and the recitals of � any matters or facts in any reconveyance executed hereunder shall be conclusive proof of the I � truthfulness thereof. Neither Beneficiary nor Trustee shall have any duty to determine the � rights of persons claiming to be rightful grantees of any reconveyance. When the Subject Property has been fully reconveyed, the last such reconveyance shall operate as a reassignment � of all future rents, issues and profits of the Subject Property to the person or persons legally � entitled thereta � B. Partial Reconveyance - Trustor will be attempting to sell the individual condominium units � located in the Subject Property, and Beneficiary agrees that a partial reconveyance will be ' issued with respect to each sold unit on the condition that the net proceeds of the sale of each , � unit (defined as the gross sale price, less commission and usual closing costs, less any payment ' due on homeowner's fees by seller and less any payment owed by seller on the Facilities Use � Agreement) are paid to Beneficiary at the close of escrow for the sale of the unit, and further , providing that the gross sale price of the unit is not less than One Hundred Fifty Thousand I Dollars ($150,000) unless the Beneficiary agrees in writing that it may be less. Any partial ' reconveyance so issued shall only remove that unit from the lien of this Deed of Trust, and no ( other unit or other portion of the Subject Property shall be affected, and all of said other units I �� j or other portions of the Subject Property shall remain subject to this Deed of Trust. I � II!, � 5.15 SUBROGATION. Beneficiary shall be subrogated to the lien of all encumbrances, whether I � released of record or not, paid in whole or in part by Beneficiary pursuant to this Deed of Trust or � by the proceeds of any loan secured by this Deed of Trust. , � I � � I � 5.16 RIGHT OF INSPECTION. Beneficiary, its agents and employees, may enter the Subject � Property at any reasonable time, after reasonable notice to Trustor, for the purpose of inspecting � � the Subject Properiy and ascertaining Trustor's compliance with the terms hereof. ' � � ARTICLE 6. DEFAULT PROVISIONS � v � 6.1 DEFAULT. For all purposes hereof, the term "Default" shall mean (a) at Beneficiary's option, the failure of Trustor to make any payment of principal or interest on the Note or to pay any other � amount due hereunder or under the Note when the same is due and payable, whether at maturity, by acceleration or otherwise beyond any applicable grace period; (b) the failure of Trustor to perform any non-monetary obligation hereunder, or the failure to be true of any representation or warranty of Trustor contained in the Loan Agreement or Security Documents or herein and the ; continuance of such failure for thirty (30) days after notice, or within any longer grace period, if � any, allowed in the Loan Agreement for such failure; or (c) the existence of any Event of Default ; as defined in the Loan Agreement and/or any of the Security Documents. � � � � � � Page 12 � i � � ' � ' ' � � 6.2 RIGHTS AND REMEDIES. At any time after Default, Beneficiary and Trustee shall each have � all the following rights and remedies: (a) With or without notice, to declare all Secured Obligations immediately due and payable and/or in breach; � � � � (b) With or without notice, and without releasing Trustor from any Secured Obligation, and without becoming a mortgagee in possession, to cure any breach or Default of Trustor � and, in connection therewith, to enter upon the Subject Property and do such acts and things as Beneficiary or Trustee deem necessary or desirable to protect the security � hereof, including, without limitation: (i) to appear in and defend any action or proceeding � purporting to affect the security of this Deed of Trust or the rights or powers of ' Beneficiary or Trustee under this Deed of Trust; (ii) to pay, purchase, contest or � compromise any encumbrance, charge, lien or claim of lien which, in the sole judgment � of either Beneficiary or Trustee, is or may be senior in priority to this Deed of Trust, the � judgment of Beneficiary or Trustee being conclusive as between the parties hereto; (iii) to obtain insurance; (iv) to pay any premiums or charges with respect to insurance required � to be carried under this Deed of Trust; or (v) to employ counsel, accountants, contractors � and other appropriate persons; � � (c) To commence and maintain an action or actions in any court of competent jurisdiction to � foreclose this instrument as a mortgage or to obtain specific enforcement of the covenants of Trustor hereunder, and Trustor agrees that such covenants shall be specifically enforceable by injunction or any other appropriate equitable remedy and that for the purposes of any suit brought under this subparagraph, Trustor waives the defense of � laches and any applicable statute of limitations; C � (d) To apply to a court of competent jurisdiction for and obtain appointment of a receiver of � the Subject Property as a matter of strict right and without regard to the adequacy of the � security for the repayment of the Secured Obligations, the existence of a declaration that the Secured Obligations are immediately due and payable, or the filing of a notice of � default, and Trustor hereby consents to such appointment; ' � � ' � (e) To enter upon, possess, manage and operate the Subject Property or any part thereof, to , take and possess all documents, books, records, papers and accounts of Trustor or the ! then owner of the Sub�ect Property, to make, terminate, enforce or modify Leases of the �I � Subject Property upon such terms and conditions as Beneficiary deems proper, to make I � � repairs, alterations and improvements to the Subject Property as necessary, in Trustee's i or Beneficiary's sole judgment, to protect or enhance the security hereof; � I i (fl To execute a written notice of such Default and of its election to cause the Subject ' � Property to be sold to satisfy the Secured Obligations. As a condition precedent to any � such sale, Trustee shall give and record such notice as the law then requires. When the � minimum period of time required by law after such notice has elapsed, Trustee, without � notice to or demand upon Trustor except as required by law, shall sell the Subject � ; Page 13 � � � , � - ' � , � � Property at the time and place of sale fixed by it in the notice of sale, at one or several sales, either as a whole or in separate parcels and in such manner and order, all as � Beneficiary in its sole discretion may determine, at public auction to the highest bidder � for cash, in lawful money of the United States, payable at time of sale. Neither Trustor � nor any other person or entity other than Beneficiary shall have the right to direct the � order in which the Subject Property is sold. Subject to requirements and limits imposed � by law, Trustee may from time to time postpone sale of all or any portion of the Subject � Property by public announcement at such time and place of sale. Trustee shall deliver to ! the purchaser at such sale a deed conveying the Subject Property or portion thereof so I, � sold, but without any covenant or warranty, express or implied. The recitals in the deed of � � any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including Trustee, Trustor or Beneficiary may purchase at the sale. In the event that a � sale results in excess proceeds over the amounts necessary to pay the Secured Obligation � and any fees or costs associated with the sale, the excess shall be applied to reduce the � balance due on the Hotel Note. j (g) To resort to and realize upon the security hereunder and any other security now or later � held by Beneficiary concurrently or successively and in one or several consolidated or � independent judicial actions or lawfully taken non judicial proceedings, or both, and to � apply the proceeds received upon the Secured Obligations all in such order and manner as Trustee and Beneficiary, or either of them, determine in their sole discretion; and s � ' � (h) Upon sale of the Sub�ect Property at any judicial or non judicial foreclosure, Beneficiary � may credit bid (as determined by Beneficiary in its sole and absolute discretion) all or any portion of the Secured Obligations. In determining such credit bid, Beneficiary may, � but is not obligated to, take into account all or any of the following: (i) appraisals of the ', � Subject Property as such appraisals may be discounted or adjusted by Beneficiary in its ' sole and absolute underwriting discretion; (ii) expenses and costs incurred by Beneficiary � with respect to the Subject Property prior to foreclosure; (iii) expenses and costs which !, Beneficiary anticipates will be incurred with respect to the Subject Property after '� � foreclosure, but prior to resale, including, without limitation, costs of structural reports �, and other due diligence, costs to carry the Subject Property prior to resale, costs of resale � (e.g. commissions, attorneys' fees, and taxes), costs of any hazardous materials clean-up � and monitoring, costs of deferred maintenance, repair, refurbishment and retrofit, costs of I defending or settling litigation affecting the Subject Property, and lost opporiunity costs ' (if any), including the time value of money during any anticipated holding period by I Beneficiary; (iv) declining trends in real property values generally and with respect to properties similar to the Subject Property; (v) anticipated discounts upon resale of the Subject Properly as a distressed or foreclosed property; (vi) the fact of additional � collateral (if any), for the Secured Obligations; and (vii) such other factors or matters that Beneficiary (in its sole and absolute discretion) deems appropriate. In regard to the above, Trustor acknowledges and agrees that: (a) Beneficiary is not required to use any or , all of the foregoing factors to determine the amount of its credit bid; (b) this Section does � not impose upon Beneficiary any additional obligations that are not imposed by law at the R ( time the credit bid is made; (c) the amount of Beneficiary's credit bid need not have any j relation to any loan-to-value ratios previously discussed between Trustor and i Beneficiary; and (d) Beneficiary's credit bid may be (at Beneficiary's sole and absolute � discretion) higher or lower than any appraised value of the Subject Property. 3 i � � Page 14 � � I f k � � statements, applications for registration and like papers necessary to create, perfect or preserve Beneficiary's security interests and rights in or to any of the Collateral, and (d) upon the � occurrence of an event, act or omission which, with notice or passage of time or both, would constitute a Default, Beneficiary may perform any obligation of Trustor hereunder; provided, � however, that: (i) Beneficiary as such attorney-in-fact shall only be accountable for such funds as � are actually received by Beneficiary; and (ii) Beneficiary shall not be liable to Trustor or any other � person or entity for any failure to act under this Section. � , � ARTICLE 7. MISCELLANEOUS PROVISIONS � � � 7.1 ADDITIONAL PROVISIONS. The Loan Agreement and the Security Documents contain or � incorporate by reference the entire agreement of the parties with respect to matters contemplated herein and supersede all prior negotiations. The Loan Agreement and the Security Documents grant further rights to Trustor and Beneficiary and contain further agreements and affirmative and negative covenants by Trustor which apply to this Deed of Trust and to the Subject Properly and such further rights and agreements are incorporated herein by this reference. � 7.2 MERGER. No merger shall occur as a result of Beneficiary's acquiring any other estate in, or any other lien on, the Subject Property unless Beneficiary consents to a merger in writing. 7.3 OBLIGATIONS OF TRUSTOR, JOINT AND SEVERAL. If more than one person has executed this Deed of Trust as "Trustor", the obligations of all such persons hereunder shall be t joint and severaL � � 7.4 RECOURSE TO SEPARATE PROPERTY. Any married person who executes this Deed of Trust as a Trustor agrees that any money judgment which Beneficiary or Trustee obtains pursuant ' to the terms of this Deed of Trust or any other obligation of that married person secured by this ' � Deed of Trust may be collected by execution upon that person's separate property, and any , � community property of which that person is a manager. ', � 7.5 WAIVER OF MARSHALING RIGHTS. Trustor, for itself and for all parties claiming through I ' i j or under Trustor, and for all parties who may acquire a lien on or mterest m the Subject Property, � � � hereby waives all rights to have the Subject Property and/or any other property, including, without ' limitation, the Collateral, which is now or later may be security for any Secured Obligation ("Other I '� �( Property") marshaled upon any foreclosure of this Deed of Trust or on a foreclosure of any other ' ( security for any of the Secured Obligations. Beneficiary shall have the right to sell, and any court � � in which foreclosure proceedings may be brought shall have the right to order a sale of, the Subject � Property and any or all of the Collateral or Other Property as a whole or in separate parcels, in any � order that Beneficiary may designate. � � 7.6 RULES OF CONSTRUCTION. When the identity of the parties or other circumstances make it � appropriate the masculine gender includes the feminine and/or neuter, and the singular number ` includes the pluraL The term "Subject Property" means all and any part of the Subject Property and � any interest in the Subject Property. I � Page 16 � , � � � • � � � 7.7 SUCCESSORS IN INTEREST. The terms, covenants, and conditions herein contained shall be binding upon and inure to the benefit of the heirs, successors and assigns of the parties hereto; f � provided, however, that this Section 7.7 does not waive or modify the provisions of Section 5.12. ' � 7.8 EXECUTION IN COIJNTERPARTS. This Deed of Trust ma be executed in an number of Y Y � counterparts, each of which, when executed and delivered to Beneficiary, will be deemed to be an original and all of which, taken together, will be deemed to be one and the same instrument. � � , � � �I 7.9 CALIFORNIA LAW. This Deed of Trust shall be construed in accordance with the laws of the I ; State of California, except to the extent that Federal laws preempt the laws of the State of � � California. �, 7.10 INCORPORATION. Exhibit A, as attached, is incorporated into this Deed of Trust b this I �I � Y � reference. ' 7.11 NOTICES. All demands, consents, requests and other communications required or permitted under this Agreement shall be in writing and shall be deemed conclusively to have been given (i) when hand delivered to the other Party, (ii) three (3) business days after such notice has been sent by United States mail, certified mail, return receipt requested, postage prepaid, and addressed to the other party as i set forth below, (iii) the next business day after such notice is deposited with a national overnight � � delivery service reasonably approved by the Parties (Federal Express and Airborne Express are deemed � approved by the Parties), postage prepaid, addressed to the other party as set forth below with next- � business-day delivery guaranteed, provided that the sending Party receives a confirmation of delivery from the delivery service provider, ar(iv) when received by the recipient Parly when sent by facsimile i transmission at the address and number set forth below, provided that facsimile service shall only be valid when a duplicate copy is promptly sent by United States mail with first-class postage prepaid and addressed to the other Party as provided below. Any With notice by facsimile shall be deemed to be given on the next business day if such notice is received after 5:00 pm (recipient's time) or on a Saturday, Sunday or national holiday. Notices shall be sent as follows: If to Borrower: 7904 Sam Houston Pkwy, Ste. 102, Houston, TX 77064 � Attn: Moe Nasr Fax Number: With a copy to: Law Office of Gregory R. Oleson 78-075 Main St., Suite 203 i La Quinta, CA 92253 � Attn: Gregory R. Oleson ; Facsimile: (760) 771-6373 � ( If to the Agency: Redevelopment Agency , � Attn: Janet Davison i. 68700 Avenida Lalo Guerrero � Cathedral City, CA 92234 � Fax Number: � � � � Page 17 � � � � � � i i 2010 ALL CAPACITY ACKNOWLEDGMENT � State of � a`, �>�,r,n;�- ) ) Cou nty of �,`.�,�- 5� c��e.. ) On �-�c�z:�r� `��`��o , before me, _ � �,,r„��- ��.� N4� � �D�rL �� Date Here Insert Name and Title o the Officer I personally appeared � c��e �Scr Name(s) of Signer(s) I who proved to me on the basis of satisfactory evidence to be the I person(�s�, whose name(s� is/a�e- subscribed to the within instrument and acknowledged to me that he/sk►efthey executed I the same in his/�e�ft�reir authorized capacity{+esj, and that by I his/I�t�ieir signature(�s},on the instrument the person'�sj, or the entity upon behalf of which the person{�..acted, executed the ' ��. JE NIFER HICKS instrument. l '� � co�►. ��er»e2 � � �� I certify under PENALTY OF PERJURY under the laws of the State I RNBtSDE COUNTY r � Cannrpion �,�� pu of Califiornia that the foregoing paragraph is true and correct. WITNESS my hand and o�cial seal. � I � Signature Clace Notary Seal Above � OPTIONAL � 9 I � s � � E � i � � � s s � � � � � � � s � . � Title Order Number: NHRV-3450836- 50 File Number: Condominium i Land � t � � � € � � Exhibit "A" � [ � Real property in the City of Cathedral City, County of Riverside, State of California, described as follows: PARCEL 1: (APNS: 677-510-021-1 THROUGH 677-510-025-5) � 677-510-022 677-510-023 677-510-024 � � LOTS 1 THROUGH 4, INCLUSIVE, AND LETTERED LOT B OF TRACT 29076-1, IN THE CITY OF CATHEDRAL CrfY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER MAP FILED IN BOOK 410, ' PAGES 67 AND 68, OF MAPS, IN THE OFFICE OF THE COUNTY RECORDED OF SAID COUMY. � PARCEL 2: (APNS: 677-510-006-8) � ! � LOT 7 OF TRACT N0. 26598-1 AS SHOWN BY MAP ON FILE IN BOOK 242 PAGE(S) 14 THROUGH 17, OF � MAPS, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA. � # = PARCEL 3: (APN: PORTION OF 677-510-013-4) � [ PARCEL II OF LOT LINE ADJUSTMENT N0. 2008-449 RECORDED DECEMBER 1, 2008 AS INSTRUMENT � N0. 2008-0630881 OF OFFICIAL RECORDS, RIVERSIDE COUNTY, CALIFORNIA AND FURTHER � DESCRIBED AS FOLLOWS: � ALL THAT PORTION OF LOT °I" OF TRACT N0. 26598-1 AS FILED IN MAP BOOK 242 AT PAGES 14 � THROUGH 17, RECORDS OF RNERSIDE COUNTY CALIFORNIA, DESCRIBED AS FOLLOWS; � � BEGINNING AT THE NORTHWEST CORNER OF SAID LOT "I", THE FOLLOWING NINE COURSES BEING � ALONG THE WESTERLY LINE OF SAID LOT "I" THENCE SOUTH 00°-03'-08" WEST A DISTANCE OF 88.22 � � FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE NORTHWESTERLY AND HAVING A RADIUS � OF 10.00 FEET; THENCE SOUTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 45°— � 34'-23" AND A LENGTH OF 7.95 FEET TO THE BEGINNING OF A TANGENT REVERSE CURVE CONCAVE � SOUTHEASTERLY AND HAVING A RADIUS OF 10.00 FEET; THENCE SOUTHWESTERLY ALONG SAID � ` CURVE THROUGH A CENTRAL ANGLE OF 45°— 34'-23" AND A LENGTFi OF 7.95 FEET; THENCE SOUTH � 00°-03'-08" WEST A DISTANCE OF 60.00 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE � NORTHEASTERLY AND HAVING A RADIUS OF 10.00 FEET; THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 45°-34'-23" AND A LENGTH OF 7.95 FEET TO THE BEGINNING � OF A TANGENT REVERSE CURVE CONCAVE SOUTHWESTERLY AND HAVING A RADIUS OF 10.00 FEEf; � THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 45°— 34'-23" AND A � LENGTH OF 7.95 FEET; THENCE SOUTH 00°-03'-08" WEST A DISTANCE OF 88.20 FEET TO THE ; BEGINNING OF A TANGENT CURVE CONCAVE NORTHWESTERLY AND HAVING A RADIUS OF 35.00 FEET; THENCE SOUTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 90°— 00'-00" AND A LENGTH OF 54.98 FEET; THENCE SOUTH 00°-03'-08" WEST A DISTANCE OF 28.00 FEET; THENCE SOUTH 89°-56'-52" EAST A DISTANCE OF 82.17 FEEf TO A POINT ON THE EASTERLY LINE OF � SAID LOT °I", SAID POINT BEING ON A NON—TANGENT CURVE CONCAVE NORTHWESTERLY AND � HAVING A RADIUS OF 36.00 FEET, A RADIAL BEARING PASSING THROUGH SAID POINT BEARS SOUTH � 67°-03'-45" EAST; THE� FOLLOWING TWELVE COURSES BEING ALONG THE EASTERLY AND NORTHERLY t LINES OF SAID LOT I; THENCE NORTHEA5TERLY AND NORTHWESTERLY ALONG SAID CURVE � THROUGH A CENTRAL ANGLE OF 85°-16'-39" AND A LENGTH OF 53.58 TO THE BEGINNING OF A t TANGENT REVERSE CURVE CONCAVE NORTHEASTERLY AND HAVING A RADIUS OF 5.00 FEET: THENCE F � ` �k NOR7HWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 62°-23'-32" AND A LENGTH OF � € 5.44 FEET; THENCE NORTH 00°-03'-08" EAST A DISTANCE OF 100.89 FEET TO THE BEGINNING OF A � i TANGENT CURVE CONCAVE SOUTHEASTERLY AND HAVING A RADIUS OF 10.00 FEET; THENCE NORTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 45°-34'-23" AND A LENGTH OF 7.95 FEET TO THE BEGINNING OF A TANGENT REVERSE CURVE CONCAVE NORTHWESTERLY AND HAVING A RADIUS OF 10.00 FEET: THENCE NORTNEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 45°-34'-23" AND A LENGTH OF 7.95 FEET; THENCE NORTH 00°-03'-08" EAST A ; DISTANCE OF 60.00 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTHWESTERLY AND HAVING A RADIUS OF 10.00 FEET; THENCE NORTHWESTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 45°-34'-23" AND A LENGTH OF 7.95 FEET TO THE BEGINNING OF A TANGENT REVERSE CURVE CONCAVE NORTHEASTERLY AND HAVING A RADIUS OF 10.00 FEET; THENCE � NORTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 45°-34'-23" AND A LENGTH OF 7.95 FEET; THENCE NORTH 00°-03'-08" EAST A DISTANCE OF 88.22 FEET; THENCE NORTH 89°-56'-52" � WEST A DISTANCE OF 28.00 FEET TO THE POINT OF BEGINNING. � PARCEL 4: (APN: PORTION OF 677-510-025-5) � � � PARCEL AA OF LOT LINE AD]USTMENT N0. 2008-449 RECORDED DECEMBER 1, 2008 AS INSTRUMENT � N0. 2008-0630881 OF OFFICIAL RECORDS, RIVERSIDE COUNTY, CALIFORNIA AND FURTHER DESCRIBED AS FOLLOWS: ALL THAT PORTION OF LOT "A" OF TRACT NO. 29076-1 AS FILED IN MAP BOOK 410 AT PAGES 67 AND � 68, RECORDS OF RIVERSIDE COUNTY CALIFORNIA, DESCRIBED AS FOLLOWS; � x BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT °A", THENCE SOUTH 89°-56'-52" EAST ALONG � THE SOUTH LINE OF SAID LOT "A" AND ITS EXTENSION THEREOF A DISTANCE OF 338.50 FEET TO � THE SOUTHEAST CORNER OF SAID LOT ��A", THE FOLLOWING THREE COURSES BEING ALONG THE � ' EAST, NORTH AND WEST LINES OF SAID LOT �A"; THENCE NORTH 00°-03-08" EAST A DISTANCE OF $ 28.00 FEET; THENCE NORTH 89°-56'-52" WEST A DISTANCE OF 338.50 FEET; THENCE SOUTH 00°-03'- � 08" WEST A DISTANCE OF 28.00 FEET TO THE SOUTHWEST CORNER OF SAID LOT A' AND THE POINT � OF BEGINNING. � ! 6 � � a I � � I I _ , � i 1 � � � � � � a � , 1 � ! 1 � i � I I i i �