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HomeMy WebLinkAboutDeed 1503 1503 i 0 DOC # 2013-0479028 10/03/2013 04:10P Fee:NC RECORDING REQUESTED BY: ) Page 1 of 9 Recorded in Official Records ) County of Riverside Larry W. Ward THE CITY OF CATHEDRAL CITY ) Assessor, County Clerk & Recorder AND WHEN RECORDED RETURN TO: ) VIII 11101 111I II III III IIIIII II 1111 III III ) ) THE CITY OF CATHEDRAL CITY ) 68-700 AVENIDA LALO GUERRERO ) S R U PAGE SIZE DA MISC LONG RFD COPY CATHEDRAL CITY,CA 92234 ) 1 vl I ATTN: CDBG PROGRAM ) M A L 465 426 PCOR NCOR SMF CH EXAM 14,40 APN: 680-475-010-7 ) I I Jr i 1G r P ! 1T: CTY UNI FLY.P 806 Exempt from recording fees pursuant to Government Code Section 27383 (Space Above for Recorder's Use) DEED OF TRUST Revolving Sewer Loan Program Title of Document This Deed of Trust made on I 0 I� I tj by Miguel Angel Briones,hereinafter called "Trustor", whose current address is 33931 VIA DE ANZA Cathedral City, CA 92234, to LAWYERS TITLE COMPANY, a California corporation, hereinafter referred to as "Trustee", whose address is 3480 Vine Street#100, Riverside, CA 92507 in favor of the City Of Cathedral City,a California Municipal corporation,hereinafter referred to as"Beneficiary",whose address is 68700 Avenida Lalo Guerrero,Cathedral City,CA 92234 in favor of THE CITY OF CATHEDRAL CITY. 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, (the "PROPERTY") more particularly described as follows: SEE EXHIBIT"A" together with the 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 obligations under that certain Promissory Note dated as of even date herewith ("Promissory Note") in the amount not to exceed TEN THOUSAND SEVEN HUNDRED THIRTY DOLLARS ($10,730) and performance of each agreement to Trustor incorporated herein by reference or contained herein. 1 A. To protect the security of this Deed of Trust, Trustor agrees: 1. 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 taxes 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 hereof) 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 two percentage points over Bank of America's published prime rate. B. It is mutually agreed that: 1. In the event that Trustor shall, directly or indirectly, voluntarily or involuntarily, sell, enter into 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 2 111111111111111111111111111111111111111 111111111111111 10 E1130 79028 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. 2. 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. 3. 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 waiver of any preceding or succeeding default of any kind. 4. 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. 5. 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." 6. 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 amount was paid,and insofar as Beneficiary is concerned,to constitute a credit against the secured debt. 7. 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 3 B13-0479028 111111 1111111VIIIIIIIIIIIIIIII1111111IIIVIII0 IIIIIIII 1030 f3 94 10P may be removed from the premises by summary dispossession proceedings or by any other appropriate action or proceeding. 8. 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 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. 9. 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. 10. 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 two 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. 11. 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 any of the rights, obligations or remedies of Beneficiary or Trustee hereunder. 12. Beneficiary may, from time to time as provided by statute, or by a writing 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. 4 I III!IIIIIIIVIIIIIIIVIII)IIIIIIIIIIIIIVIIIIIIIIIII 162�'40 f 9A 8 6P 13. 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. 14. 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. 15. If a default is made in the performance of any agreement hereby secured, including the Promissory Note, 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. 16. 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. 17. 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. 18. 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. 19. No remedy hereby given to Beneficiary or Trustee is exclusive of any other remedy hereunder or under any present or future law. 5 I01 20 £' 9P 9888 • 20. 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. 21. Trustor shall,upon request made by Beneficiary,furnish the Beneficiary with annual statements covering the operations of the Property. 22. 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. 23. 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 Promissory Note 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. 24. 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. 25. 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. 26. "BORROWER agrees to own and occupy the PROPERTY as his/her principal place of residence for at least three(3)years, or to limit the sale of the PROPERTY upon the prior written approval of the CITY,to persons who will occupy the PROPERTY and whose gross annual income at the time of sale does not exceed 80%AMI." [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 6 1 10/03/2013 01� at'7 028 Executed at Cathedral City, California on the date first above written. TRUSTOR: MIGUEL ANGEL BRIONES X Date: /o/oz/i3 7 II11I11111111 11111111 I 1 0 001 013 1A2S0P EXHIBIT"A" PROPERTY LEGAL DESCRIPTION THE SOUTH OF Y2 OF LOT 124 RANCHO VISTA ESTATES UNIT NO. 2 AS SHOWN BY MAP ON FILE IN BOOK 22 PAGE 39 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY, CALIFORNIA. AKA: 33931 VIA DE ANZA, Cathedral City, California 92234 APN: 680-475-010-7 8 1111111 1111111 111111111 11111 111 IIHhIi III 11 IIII 1©/©3�8�of 9 '8 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of California ) County Iof Riverside ) On (0 t 12 i3 , before me, Jim L. Sherman, Notary Public Date Here Insert Name and Title of the Officer Personally appeared MIGUEL ANGEL BRIONES Name(s)of Signer(s) 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 he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the JIM L. SHERMAN person(s)acted,executed the instrument. Commission# 1879166 a M" Notary Pu'.,lic -California z z �„ I certify nder PENALTY OF PERJURY under the laws of the State z T Riverside County ' ° My Comm. Expires Feb_2,2014( of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature ���s�/ Place Notary Seal Above gra. OPTIONA U IIIIII IIIIIII VIII IIII U III 1111111 11111111 IIII IIII t0 29 1 90 f g0280P