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HomeMy WebLinkAboutRecorded Doc 2009-044 , . I ? Z� � .l , 2009-0564971 � D4C # 2(�09-�56497 � � 11/02/2009 08:00A Fee:NC Page 1 of 9 , 1326 Recorded in Official Records County of Riverside Larry W. Ward i RECORDING REQUESTED BY: ) Assessor , County Clerk & Recorder ) �DEVELOPMENTAGENCYOF ) IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII � THE CITY OF CATHEDRAL CITY ) � � S R U PAGE SIZE DA MISC LONG RFD COPY AND WHEN RECORDED RETURN TO: ) � EXAM � REDEVELOPMENT AGENCY OF � M A L 465 426 PCOR NCOR SMF NCHG THE CITY OF CATHEDRAL CITY ) �(� g �� T: cTY urvi �' � � 68-700 Avenida Lalo Guerrero ) j Cathedral City, CA 92234 ) i�; -. � � Attn: Agency Secretary ) i �...o � APN: 677-362-003 ) ( �1 � � Exempt from Recording Fees Per Government Code Section 27383 (Space Above for Recorder's Use) � � DEED OF TRUST WITH ASSIGNMENT OF RENTS I DREAM HOMES REVITALIZATION PROGRAM (DHRP) Tit e o ocument � � This Deed of Trust made on October 15, 2009 by Pedro Lerma and Concepcion Lerma, � husband & wife as Joint Tenants, hereinafter called "Trustor", whose current address is 31214 San Joaquin Drive Cathedral City, CA 92234, to Chicago Title Insurance Companv, a California corporation, hereinafter referred to as "Trustee", in favor of the REDEVELOPMENT AGENCY OF � THE CITY OF CATHEDRAL CITY, hereinafter referred to as "Beneficiary", whose address is 68- 700 Avenida Lalo Guerrero, Cathedral City, California 92234. � � Trustor irrevocably grants, transfers and assigns to Trustee in trust, with power of sale, all � that Property, including all easements and rights-of-way used in connection therewith, or as a means � of access thereto, in the City of Cathedral City, County of Riverside, State of California, more � particularly described as: � � PROPERTY LEGAL DESCRIPTION � � Lot 462 of Palm Springs Country Club Estates Unit #2, as per map recorded in book 32 page 17 � and 18 of maps, in the office of County Recorder of Riverside County, California. � a � AKA: 31214 San Joaquin Drive, Cathedral City, California 92234 � 3 APN: 677-362-003 � � � � � � 1 � � � � � � � � , • � , � , ' � � i _ L � x 3 � together with the rents, issues and profits thereof, subject however to the right reserved by Trustor to � collect and apply such rents, issues and profits, prior to any default hereunder; for the purpose of � securing performance in a timely manner of all of Trustor's obligarions under that certain Promissory r � Note dated as of even date herewith (the "Promissory Note") in the amount of (Fiftv Thousand, � Five Hundred, Ninetv and 00/100 Dollars, $50 5, 90•00) and performance of each agreement to � Trustor incorporated herein by reference or contained herein. � � � A. To protect the security of this Deed of Trust, Trustor agrees: � � € l. To maintain the Property in good condition and repair; not to remove or � � demolish any building or improvement thereon; to complete promptly in workmanlike manner any � improvement hereafter constructed thereon and to restore promptly in workmanlike manner any improvement thereon that is damaged or destroyed, and to pay when due all costs incurred therefore � or in connection therewith; to comply with all laws, ordinances, regulations, covenants, conditions � � and restrictions affecting the Property; not to commit or permit any waste thereof or any act upon the � Property in violation of law or of covenants, conditions or restrictions affecting the Property. � � � 2. To appear in and defend any action or proceeding purporting to affect the � security hereof or the rights or powers of Beneficiary or Trustee; and also, if at any time Beneficiary � or Trustee is a party to or appears in any such action or proceeding, or in any action or proceeding to � enforce any obligation hereby secured, to pay all cost and expenses paid or incurred by them or either � of them in connection therewith, including, but not limited to, cost of evidence of title and attorneys' ; fees in a reasonable sum. � � � 3. To pay (a) at least ten (10) days before delinquency, all ta�ces and assessments � affecting the Property; (b) when due, all encumbrances, charges and liens, with interest, on the � Property or any part thereof, which appear to be prior or superior hereto; and (c) all costs, fees and � expenses of this trust. � 4. If Trustor fails to make any payment or to do any act as herein provided, then � Beneficiary or Trustee (but without obligation so to do, and with or without notice to or demand � upon Trustor, and without releasing Trustor from any obligation hereo fl may (a) make or do the � same in such manner and to such extent as either deems necessary to protect the security hereof, � Beneficiary or Trustee being authorized to enter upon the Property for such purpose; (b) appear in or � commence any action or proceeding purporting to affect the security hereof or the rights or powers of � Beneficiary or Trustee; (c) pay, purchase, contest, or compromise any encumbrance, charge or lien � that, in the judgment of either, appears to be superior hereto; and in exercising any such power, � Beneficiary or Trustee may incur necessary expenses, including reasonable attorneys' fees. � � 5. To pay immediately and without demand all sums expended hereunder by � Beneficiary or Trustee, with interest from date of expenditure at the annual rate of five percentage ` � points over Bank of America's published prime rate. � � 2 � f ' �F�F�!�-N5F,43 i 1 � IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 11!Nc�''2�30f ag:9FiF � x � � 1 � ' , i • � i 0 i R B. It is mutually agreed that: � � � In the event that Trustor shall, directly or indirectly, voluntarily or involuntarily, sell, � enter mto a contract of sale, convey, assign, transfer, lease with an option to purchase, dispose of, � alienate or further encumber or agree to sell, or suffer to exist any other lien against all of any portion � of or any of Trustor's interest in the Property, or change, or suffer the change of, the character or use � of the Property, Beneficiary, at its option, may then, or any time thereafter, declare all sums due � hereunder immediately due and payable. � � Any award of damages made in connection with the condemnation for public use of � or injury to the Property or any part thereof shall be first applied to satisfy the balance due under the � Promissory Note with the remainder to be released to Trustor. Such application or release shall not � cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such � notice. g � a � 1. The acceptance by Beneficiary of any payment less than the amount then due � shall be deemed an acceptance on account only and shall not constitute a waiver of the obligation of � Trustor to pay the entire sum then due or of Beneficiary's right either to require prompt payment of £ � all sums then due or to declare default. The acceptance of payment of any sum secured hereby after � its due date will not waive the right of Beneficiary either to require prompt payment when due of all � other sums so secured or to declare default for failure so to pay. No waiver of any default shall be a 3 waiver of any preceding or succeeding default of any kind. � � � 2. At any time upon the occurrence of a default, without liability therefore and � with or without notice, upon written request of Beneficiary and presentation of this Deed of Trust for ; � endorsement, and without effecting the personal liability of any person, Trustee may reconvey any � part of the Property, consent to the making of any map or plat thereof, join in granting any easement � or join in any extension agreement or any agreement subordinating the lien or charge thereof. � � 3. Upon written request of Beneficiary, surrender of this Deed of Trust to Trustee � � for cancellation and retention, and payment of its fees, Trustee shall re-convey, without warranty the � Property held hereunder. The recitals in such re-conveyance shall be conclusive proof of the � � truthfulness thereof. The grantee may be designated in such re-conveyance as"the person or persons � � legally entitled thereto." � � � 4. Trustor may give such notice to Beneficiary at any time before there is a � Trustee's sale of the Property. At any time Trustor is in default in payments to be made to € Beneficiary hereunder, any amounts paid to and received by Beneficiary for execution of releases � pursuant to the terms of this paragraph after notice of default and election to sell has been recorded � � shall not, unless the requirements of Section 2924c of the Civil Code are fully met by or on behalf of � Trustor, waive the right of Beneficiary to continue its plans to have the Property sold, nor shall they � have any effect on the exercise by Beneficiary of the acceleration privilege contained herein, except � to entitle the person effecting such payment to the release of the Property for which the release � � � 3 � � I I IIIIII IIIIIII IIIII II IIIIII IIIIII IIIIII III IIIII IIII IIII 1 L 0 f � ' 3 �l� Ur � � � i I j • • � 9 I � ! _ � � 3 amount was paid, and insofar as Beneficiary is concerned, to constitute a credit against the secured � debt. i � � 3 5. If Trustor shall occupy the Property, or any part thereof, after any default, � Trustor or such owner shall pay to Beneficiary in advance on the first day of each month a reasonable � rental for the premises so occupied. On failure to pay such reasonable rental, Trustor or such owner � may be removed from the premises by summary dispossession proceedings or by any other appropriate action or proceeding. � � � 6. If default is made in performance of any agreement hereby secured, then ' Beneficiary, with or without notice to Trustor, may institute suit for the foreclosure of this Deed of � Trust, or by delivering to Trustee a written declaration of default and demand for sale, as well as a j written notice of default and of election to cause the Property to be sold, which notice Trustee shall � cause to be filed for record. If such declaration is delivered to Trustee, Beneficiary shall deposit with � Trustee this Deed of Trust, and all documents evidencing expenditures secured hereby. � � � 7. After the time then required by law has elapsed after recordation of such � notice of default, and notice of sale having been given as then required by law, Trustee, with or � without demand on Trustor, shall sell the Property at the time and place fixed in the notice of sale, � either as a whole or in separate parcels and in such order as Trustee determines, at public auction, to � the highest bidder, for cash in lawful money of the United States, payable at the time of sale. Trustee � may postpone from time to time sale of all or any portion of the Property by public announcement at � the time and place of sale originally fixed or at the last preceding postponed time. Trustee shall � deliver to the purchaser its deed conveying the Property sold, but without any covenant or warranty, � express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the � truthfulness thereof. Trustor, Trustee, Beneficiary or any other person may purchase at the sale. � } � 8. After deducting all costs, fees and expenses of Trustee and of this trust, � including cost of evidence of title and reasonable attorneys' fees in connection with sale, Trustee � shall apply the proceeds of sale to payment of (a) all sums expended under the terms hereof and not � theretofore repaid, with accrued interest at five percentage points over Bank of America's published � prime rate per annum, and (b) all other sums then secured hereby in such order as Beneficiary, in the = exercise of its sole discretion, directs. The remainder, if any, shall be paid to the person or persons � legally entitled thereto. � � g � 9. Before Trustee's sale, Beneficiary may rescind such notices of default and of � election to cause the Property to be sold by delivering to Trustee a written notice of rescission, which � notice, when recorded, shall cancel any prior declaration of default, demand for sale and acceleration � of maturity. The exercise of such a right of rescission shall not constitute a waiver of any default � then existing or subsequently occurring, or impair the right of Beneficiary to deliver to Trustee other � declarations of default and demands for sale or notices of default and of election to cause the � � Property to be sold, or otherwise affect any provision of the secured note or of this Deed of Trust or v any of the rights, obligations or remedies of Beneficiary or Trustee hereunder. � z s F � 4 � � � '� III IIIIII IIIIII III IIIII IIII IIII 11�����'��FN £�����F � IIIIIIIIIIIIIIIIIIIIIIII � � � � �. • . i , 10. Benefici ma , from time to time as rovided b statute, or b a writin � �Y Y P Y Y g � signed and acknowledged by him and recorded in the office of the county recorder of the county in � which the land or such party thereof as is then affected by this Deed of Trust is situated, appoint another trustee instead and of Trustee herein named; and thereupon, the Trustee herein named shall � be discharged, and the trustee so appointed shall be substituted as Trustee hereunder with the same � effect as if originally named Trustee herein. � � 11. If two or more persons are designated as Trustee herein, any or all powers � granted herein to Trustee may be exercised by any of such persons if the other person or persons is � unable, for any reason, to act. Any recital of such inability in any instrument executed by any of such persons shall be conclusive against Trustor, his heirs and assigns. � € � � 12. All leases of any structures on the Property, now or hereafter affecting the � Property are hereby assigned and transferred to Beneficiary by Trustor. Trustor hereby covenants � that none of such leases will be modified or terminated without the written consent of Beneficiary. � � 13. If a default is made in the performance of any agreement hereby secured, � including the Promissory Note and those certain Conditions, Covenants and Restrictions of even date � herewith recorded against the Property, Trustor when requested to do so, shall give such further � written assignments of rents, royalties, issues and profits; of all security for the performance of ° leases; and of all money payable under any option to purchase, and shall give executed originals of � all leases, now or hereafter on or affecting the Property. � � � 14. Trustor reserves the right, prior to any default in payment of any indebtedness � or performance of any obligation secured hereby, to collect all such rents, royalties, issues and � profits, as but not before they become due. Upon any such default, Trustor's right to collect such � moneys shall cease, not only as to amounts accruing thereafter, but also as to amounts then accrued � � and unpaid. In the event of default, Beneficiary, with or without notice and without regard to the � adequacy of security for the indebtedness hereby secured, either in person or by agent, or by a � receiver to be appointed by the court, (a) may enter upon and take possession of the Property at any � time and manage and control it in Beneficiary's discretion, and (b) with or without taking possession, � may sue for or otherwise collect the rents, issues and profits thereof, whether past due or coming due � thereafter, and apply the same, less costs and expenses of operation and collection, including � reasonable attorneys' fees, upon any obligation secured hereby and in such order as Beneficiary � determines. None of the aforesaid acts shall cure or waive any default hereunder or invalidate any � act done pursuant to such notice. Beneficiary shall not be required to act diligently in the care or � management of the Property or in collecting any rents, royalties or other profits that it is hereby � authorized to collect, and shall be accountable only for sums actually received. � � � � 15. Without affecting the liability of Trustor or of any other party now or hereafter � bound by the terms hereof, from time to time and with or without notice, Beneficiary may release any � person now or hereafter liable for performance of such obligation, and may extend the time for � � payment or performance, accept additional security, and alter, substitute or release any security. � � t. € 5 � � � �faA`� 1 p � I IIIIII IIIIIII IIIII II IIIIII IIIIII III 11;'Fa�;'cE��ti 98 �FiF ������������������� � �f � � � : � � � ' ! ,, , � I F � f ! 16. In any judicial action brought to foreclose this Deed of Trust or to enforce any � right of Beneficiary or of Trustee hereunder, Trustor shall pay to Beneficiary and to Trustee attorneys' fees in a reasonable sum, to be fixed by the court. � � 17. No remedy hereby given to Beneficiary or Trustee is exclusive of any other � remedy hereunder or under any present or future law. '' � i 18. The pleading of any statute of limitations as a defense to any and all ! obligations secured by this Deed of Trust is hereby waived, to the full extent permissible by law. ; � 19. Trustor shall, upon request made by Beneficiary, furnish the Beneficiary with � annual statements covering the operations of the Property. i � � 20. Beneficiary may collect a"late charge" not to exceed an amount equal to five � percent (5%) on the amount past due and remaining unpaid on any amount that is not paid within ten (10) days from the due date thereof, to cover the extra expense involved in handling delinquent � payments. _ f i � 21. This Deed of Trust applies to, inures to the benefit of and binds all parties ; hereto, their heirs, legatees, devisees, administrators, executors, successors, successors in interest, � and assigns. The term "Beneficiary" means the owner and holder, including pledgees, of the ; Agreement secured hereby, whether or not named as Beneficiary herein. In this Deed of Trust, � whenever the context so requires, the masculine gender includes the feminine and neuter, and the � singular number includes the plural, and all obligations of each Trustor hereunder are joint and � several. � � R 22. Trustee accepts this trust when this Deed of Trust, duly executed and � � acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any � party hereto of pending sale under any other deed of trust or of any action or proceeding in which � Trustor, Beneficiary or Trustee is a party unless brought by Trustee. � � � s � s � � i � � s s § 5 i 6. 1 5 � � f $ � E. k 6 � � � IIIIIIIIIIIII ��`�� 4a,o�F � I I IIIIII IIIIIII IIIII II IIIIII IIIIII IIIIII III � � � . I • • i � _ i i � � Trustor requests that a copy of notice of default and of any notice of sale hereunder � shall be mailed to him at the address indicated in the first paragraph of this Deed of Trust. � � Executed at Cathedral City, California on the date first above written. � ; ; TRUSTOR: ' i 3 � � �-�� � � Pedro Lerma � , , � _�.�, � ����,� o�� 1 Concepcion Lertna � � i � � � � � � � � � � CATH/0010-12/DOC/009-2.doc ; � � � � r � s g � � � i 9 � � � I � � e € 6 k € L � I Y i I IIIIII IIIIIII IIIII II IIIIII IIIIII IIIIII III IIIII IIII IIII i i. FF� E+H � g � � § � � � � � P -1 5 • • f . _ � CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California ) ) County of Riverside ) � On (/� .�(P,��9 , before me, Arleen Lonq, Notarv Public � Date Here Insert Name and Title of the Officer Personally appeared Pedro Lerma and Concepcion Lerma � Name(s) of Signer(s) � `€ � � frY � who proved to me on the basis of satisfactory evidence to be the � person(s) whose name(s)�is/are subscribed to the within instrument and � acknowledged to me that �elskeltheyexecuted the same in�is4ierftheir � authorized capacity(ies), and that by ��their signatwe(s) on the instrument the person(s), or the entity upon behalf of which the Cw�nM�Mon I iN10�� person(s) acted, executed the instrument. � /l010�1► h� , 0�� � �h►��Md� OMIIIM I certify under PENALTY OF PERJURY under the laws of the State � MrCaMe�. ��• of California that the foregoing paragraph is true and correct. � � WTTNESS my hand and official seal. � � � k � � � Signature � Place No[ary Seal Above � x � OPTIONAL � k _ � � � � � � f � � : F � � C1 �, � t���—�]cSFiQ��� � ... I IIIII�IIIIIIIII 11,'fic.'��pfF� .F�f�R �'. . I IIIIIIIII'II #. I IIIIIII'IIIIIIIIIIII � � g � � �: � � � f i 0 i • e � . � �! ! i � � � � �� LARRY W. WARD p o sax �s � � COUNTY OF RIVERSIDE Riverside, CA 92502-0751 � r (95l } 486-7000 � " . � ASSESSOR-COLTNTY CLERK-RECORDER www. rivers i deacr. co m � � € i NOTARY CLARITY � Under the provisions of Government Code 27361.7, I certify under the penalty of perjury � that the notary seal on the document to which this statement is attached reads as � foHows: � � � Name of Notary: �` "7� - � � Commission #: �(� � 3 � 77 ' � Place of Execution: � � ( , �� / ,� � � . � ; Date Commission Expires: ��(�, � � / � � � � Date: '�/ � � c�fl � /� , C�� � s � Signature: � Print Name: �� � ' �� II��II �II ��II� I�II I�II i i. �F�9 I IIIIIIIIIIIIIIIIIIIIIIIIIIIIIII ACR 186P-AS4RE0 (Rev. 09/2006) Available in Altemate Forcnacs