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HomeMy WebLinkAboutD-1729 3591 Sacramento Drive, Unit 10 Recorded 07/20/20071 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 RECORDING REQUESTED BY COMMERCE TITLE COMOY WHEN RECORDED RETURN TO City of San Luis Obispo 990 Palm Street San Luis Obispo, Ca. 93401 Attn: City Clerk i JULIE RODEUVALD ^ ^ MEL San Luis Obispo County — CIRRecorder 7/20/2007 Recorded at the request of ; 2 :11 PM Commerce Title Company The undersigned declare that there is no documentary transfer tax on this matter. 2007049615 Titles: 4 Pages: 18 Fees 0.00 Taxes 0.00 Others 0.00 PAID S0.00 Recorded for the Benefit of the City of San Luis Obispo at No Fee Under Section 27383 of the Government Code PURCHASE MONEY DEED OF TRUST, DEED OF TRUST COVENANTS, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING THIS PURCHASE MONEY DEED OF TRUST, DEED OF TRUST COVENANTS, ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this "Deed of Trust ") is made as of this _3rd day of July 2 0 0 7 , by _Sabrina Haggie ( "Trustor "), the owner of the real property described herein . below, whose address is: 3591 Sacramento Drive Unit 10 San Luis Obispo, California To Commerce Title Company, ( "Trustee ") in favor of the CITY OF SAN LUIS OBISPO, a municipal corporation, whose address is 990 Palm Street, San Luis Obispo, California 93401 ('Beneficiary"). 32 WHEREAS, on January 18,2006, Beneficiary and Centex Homes, a Nevada general 33 partnership., entered into an Affordable Housing Agreement ( "Affordability Agreement ") to 34 implement Council Resolution No. 9594, approving the mixed use development called 3592 35 Broad Streets and 36 37 WHEREAS, to implement said Affordability Agreement, Beneficiary and Trustor entered into 38 that certain Promissory Note ( "Note ") dated July 3, 2 007 pursuant to which Trustor 39 agreed to certain restrictions on the sale or transfer of that certain real property located in the 40 County of San Luis Obispo, State of California, which is further described in Exhibit A (the 41 "Real Property"); and 42 43 WHEREAS, Beneficiary and Trustor desire to ensure that the Real Property remain affordable to 44 moderate - income persons for a period of not less than 30 years following the property's initial 45 date of sale, pursuant to the Affordability Agreement. 46 47 48 o • Second Deed of Trust Page 2 1 NOW, THEREFORE, THIS DEED OF TRUST WITNESSETH: 11 3 Trustor, in consideration of the indebtedness referred to below and the trust herein created, 4 irrevocably grants, conveys, transfers and assigns to Trustee, and its successors and assigns, in 5 trust, with power of sale and right of entry and possession, all of Trustor's estate, right, title and 6 interest in, to and under the Real Property; 8 TOGETHER WITH all structures and improvements now existing or hereafter erected on the 9 Real Property, all easements, rights and appurtenances thereto or used in connection therewith, 10 all rents, royalties, issues, profits, revenues, income and other benefits thereof or arising from the 11 use or enjoyment of all or any portion thereof (subject, however, to the right, power and 12 authority given herein to Trustor to collect and apply such rents, royalties, issues, profits, 13 revenues, income and other benefits prior to an Event of Default hereunder), all interests in and 14 rights, royalties and profits in connection with all minerals, oil and gas and other hydrocarbon 15 substances thereon or therein, development rights or credits, air rights, water, water rights 16 (whether riparian, appropriative or otherwise and whether or not appurtenant) and water stock, 17 all intangible property and rights relating to the Real Property or the operation thereof or used in 18 connection therewith, including, without limitation, trade names and trademarks and all furniture 19 and fixtures, now or hereafter located in, or on, or attached or affixed to, or used or intended to 20 be used in connection with, the Real Property, including, but without limitation, all heating, 21 lighting, laundry, incinerating, gas, electric and power equipment, pipes, plumbing, fire 22 prevention and fire extinguishing, refrigerating, ventilating and communication apparatus, air 23 cooling and air conditioning apparatus, shades, awnings, blinds, curtains, drapes, attached floor 24 coverings, including rugs and carpeting and other installed appliances, attached cabinets, trees, 25 plants and other items of landscaping, shall, to the fullest extent permitted by law and for the 26 purposes of this Deed of Trust, be deemed to be part and parcel of, and appropriated to the use 27 of, the Real Property and, whether or not affixed or annexed thereto, be deemed conclusively to 28 be real property and conveyed by this Deed of Trust, and Trustor agrees to execute and deliver, 29 from time to time, such further instruments and documents as may be required by Beneficiary to 30 confirm the lien of this Deed of Trust on any of the foregoing; 31 32 TOGETHER WITH all of the estate, interest, right, title, other claim or demand which Trustor 33 now has or may hereafter acquire in any and all awards made for the taking by eminent domain, 34 or by any proceeding or purchase in lieu thereof, of the whole or any part of the Property (as 35 hereinafter defined), including, without limitation, any awards resulting from a change of grade 36 of streets and awards for severance damages; 37 38 TOGETHER WITH all of the estate, interest, right, title and other claim or demand which 39 Trustor now has or may hereafter acquire with respect to the unearned premiums accrued, 40 accruing or to accrue and the proceeds of insurance in effect with respect to all or any part of the 41 foregoing. All of the foregoing property referred to in this Deed of Trust, together with the Real 42 Property, is herein referred to as the "Property." 43 44 ARTICLE 1. PURPOSE AND CONSIDERATION. This trust deed is established for the 45 purpose of securing, in such order of priority as Beneficiary may elect: Second Deed of Trust Page 3 2 (a) The repayment of the indebtedness evidenced by Trustor's Promissory Note (the 3 "Note ") of even date herewith payable to the order of Beneficiary, in the principal sum of 4 Two Hundred One Thousand, Four Hundred and Fifty Thousand Dollars ($201,450.00) 5 ( "Principal "), and any and all late charges, interest costs or fees required thereunder and 6 all extensions, renewals, modifications, amendments and replacements thereof. The 7 amount of the Note is the monetary difference between said property's initial sales price, 8 as allowed by the City's Affordable Housing Standards and its initial market value, as 9 determined. by City's Community Development Director based on sales information for 10 comparable market rate units provided by Trustee. 11 12 (b) The payment of all other sums which may be advanced by or otherwise be due to 13 Trustee or Beneficiary under any provision of this Deed of Trust with interest (if any) 14 thereon at the rate provided herein or therein. 15 16 (c) Performance of all covenants of Trustor made in this Deed of Trust. 17 18 (d) Performance of all obligations and conditions of the Housing Agreement. 19 20 ARTICLE 2. DEED COVENANTS. To protect the security of this Deed of Trust, Trustor and 21 Trustee hereby covenant and agree as follows: 22 23 SECTION 2.01. Restrictions on Use and Occupancy. The Real Property shall be used solely 24 for owner- occupied housing and occupied solely by low- or moderate income households, as 25 defined in the Affordability Agreement. 26 27 SECTION 2.02. Restrictions on Sale. The Real Property shall be sold or otherwise transferred 28 only to eligible households, as defined herein, or to the City, its Housing Authority, or to a non - 29 profit housing agency designated by City. Sales prices shall be based on and consistent with the 30 Affordable Housing Standards published by the City's Community Development Department. 31 32 SECTION 2.03. Term of Use, Occupancy and Sale Restrictions. Trustor agrees that the 33 above restrictions to the use, occupancy and sale of the Real Property shall remain in effect for a 34 period of not less than thirty (30) years from the date of the property's initial sale, or until _ 35 Jul Y - 3 g 203 7. Further, Trustor agrees that all future grant deeds for or transfers of interest in 36 the properties shall contain a restriction providing that for the period of time specified in this 37 deed of trust, there shall be no sale, lease, rental, or other transfer of the properties except for the 38 sale to and occupation by eligible low or moderate income households. Any sale, lease, rental, 39 or other transfer of the property in violation of this covenant shall be void, as provided below. 40 41 SECTION 2.04. Determination of Eligibility. Trustor and Trustee agree to retain the Housing 42 Authority of the City of San Luis Obispo, or other qualified entity acceptable to the City, to 43 determine whether prospective buyers qualify as eligible households as defined in the Affordable 44 Housing Standards. 45 3 • i Second Deed of Trust Page 4 i SECTION 2.05. Covenants Binding. These affordability requirements shall be covenants 2 running with the land as defined in California Civil Code Section 1460, and shall apply to the 3 Real Property as further described on Exhibit A. Pursuant to Civil Code Section 1468, which 4 governs such covenants, the provisions of this Agreement shall be binding upon all parties 5 having any right, title, or interest in any of the properties described herein, or any portion thereof 6 and on their heirs, successors in interest and assigns for a period of 30 years from the initial date 7 of sale of the property. The parties agree that all future deeds or transfers of interest regarding 8 the properties shall show the restrictions of this Agreement for as long as the Agreement is in 9 effect. 10 11 SECTION 2.06. First Right of Refusal. Upon resale, Trustor and Trustee agree that the City or 12 the Housing Authority of the City of San Luis Obispo shall have the first right of refusal to 13 purchase the property or properties at the then current appraised value, as further described in the 14 Note. 15 16 SECTION 2.07. Performance of Obligations Secured. Trustor shall promptly pay when due 17 the indebtedness evidenced by the Note and any late charges, costs and/or fees provided for in 18 the Note and shall further perform fully and in a timely manner all other obligations of Trustor 19 contained herein or in the Note. 20 21 ARTICLE 3 — INSURANCE REQUIREMENTS 22 23 SECTION 3.01. Trustor shall keep the Property and all improvements thereon insured against 24 loss or damage by fire with extended all -risk coverage clauses, including vandalism and 25 malicious mischief clauses, in an amount not less than one hundred percent (100 %) of the full 26 replacement cost of such improvements with a company or companies and in such form and with 27 such endorsements as may be approved or required by Beneficiary. 28 29 SECTION 3.02. Trustor shall also maintain in full force and effect a policy of homeowners' 30 general liability insurance insuring Trustor against liability for bodily injury, property damage 31 and personal injury arising out of the operation, use or occupancy of the Property. The initial 32 amount of such insurance shall be One Hundred Thousand Dollars ($100,000.00) per occurrence 33 and not in the aggregate and shall be subject to periodic increase based upon increased liability 34 awards or the reasonable recommendation of Trustor's professional insurance advisor. Trustor 35 shall name Beneficiary as an additional insured under such policy. Such insurance shall be 36 primary with respect to any insurance maintained by Beneficiary and shall not call on 37 Beneficiary's insurance for contributions. 38 39 SECTION 3.03. Trustor shall pay all premiums for the insurance policies required to be 40 maintained under this Deed of Trust within fifteen (15) days after Trustor's receipt of a copy of 41 the premium statement or other evidence of the amount due. At least thirty (30) days prior to the 42 expiration of such policy, Trustor shall deliver to Beneficiary a renewal of such policy. 43 44 SECTION 3.04. Any insurance which Trustor is required to maintain under this Deed of Trust 45 shall include a provision requiring that the insurance carrier give Beneficiary not less than thirty Second Deed of Trust Page 5 1 (30) days written notice prior to any cancellation or modification of such coverage. If Trustor (i) 2 fails to deliver any policy or renewal to Beneficiary required under this Deed of Trust within the 3 prescribed time period or (ii) if any such policy is canceled or modified to reduce the amount or 4 type of coverage without Beneficiary's consent and no substituted comparable coverage is 5 obtained by Trustor prior to such cancellation or modification, Beneficiary may obtain such 6 insurance. In such case, Trustor shall reimburse Beneficiary for the cost of such insurance within 7 fifteen (15) days after receipt of a statement that indicates the cost of such insurance and upon 8 proof that Beneficiary has paid said statement. 9 10 SECTION 3.05. Trustor shall maintain all insurance required under this Deed of Trust with 11 companies holding a "general policy rating" of A -8 or better, as set forth in the most current 12 issue of "Best Key Rating Guide." Trustor acknowledges that the insurance described in this 13 Section is for the primary benefit of Beneficiary. Beneficiary makes no representation as to the 14 adequacy of such insurance to protect Trustor's or Beneficiary's interests. Therefore, Trustor 15 shall obtain any additional property or liability insurance that Trustor deems necessary to protect 16 Beneficiary and Trustor, in the exercise of reasonable judgment. 17 18 SECTION 3.06. Notwithstanding anything to the contrary contained herein, Trustor's obligation 19 to carry the insurance provided for herein may be brought within the coverage of a so- called 20 blanket policy or policies of insurance carried and maintained by Trustor; provided, however, 21 that Beneficiary shall be named as an additional insured thereunder and that the coverage 22 afforded Beneficiary will not be reduced or diminished by reason of the use of such blanket 23 policy of insurance and provided further that the requirements set forth herein are otherwise 24 satisfied. 25 26 SECTION 3.07. All of the above - mentioned insurance policies or certificates of insurance must 27 be satisfactory to Beneficiary. Beneficiary shall not by the fact of approving, disapproving, 28 accepting, preventing, obtaining or failing to obtain any insurance, incur any liability for or with 29 respect to the amount of insurance carried, the form or legal sufficiency of insurance contracts, 30 insolvency of insurance companies or payment or defense of lawsuits and Trustor hereby 31 expressly assumes full responsibility therefor and all liability, if any, with respect thereto. 32 33 SECTION 3.08. Condemnation and Insurance Proceeds. 34 35 SUBSECTION 3.08(a). Any award of damages in connection with any taking or condemnation, 36 or for injury to the Property by reason of public use, or for damages for private trespass or entry 37 onto the Property is hereby assigned and shall be paid to Beneficiary as further security for all 38 obligations secured by this Deed of Trust. Upon receipt of such proceeds, Beneficiary may hold 39 the proceeds as further security or apply or release them in the same manner and with the same 40 effect as provided in this Deed of Trust for the disposition of proceeds of fire or other insurance. 41 42 SUBSECTION 3.08(b). Any insurance proceeds or awards in connection with any casualty or 43 damage or injury to the Property covered by insurance ( "Insurance Proceeds ") are hereby 44 assigned to Beneficiary to be held and applied by Beneficiary in the manner hereinafter 45 provided. Beneficiary may, at its option, and at its own expense, appear in and prosecute in its Second Deed of Trust Page 6 1 own name any action or proceeding to enforce any cause of action for such Insurance Proceeds. 2 All Insurance Proceeds shall be applied by Beneficiary upon any indebtedness secured by this 3 Deed of Trust and in any order determined by Beneficiary or, at the option of Beneficiary, the 4 entire amount so collected or any part of that amount may be released to Trustor. This 5 application or release shall not cure or waive any default or notice of default under this Deed of 6 Trust or invalidate any act done pursuant to such notice. 8 SUBSECTION 3.08(c). Trustor, immediately upon obtaining knowledge of the institution of any 9 proceedings relating to condemnation or other taking of or damage or injury to the Property or 10 any portion thereof, or knowledge of any casualty damage to the Property or damage in any other 11 manner, shall immediately notify Beneficiary in writing. Beneficiary may participate, at its own 12 expense, in any such proceedings and may join Trustor in adjusting any loss covered by 13 insurance. 14 15 ARTICLE 4. TAXES, LIENS AND OTHER ITEMS. Trustor shall pay, when due, all taxes, 16 bonds, assessments, fees, liens (including prior trust deed liens), charges, fines, impositions and 17 any and all other items which are attributable to or affect the Property and which may attain a 18 priority over this Deed of Trust or the indebtedness or evidence of indebtedness secured hereby, 19 by making payment prior to delinquency directly to the payee thereof. Trustor may initiate 20 proceedings to contest any such taxes, bonds, assessments, fees, liens, charges, fines, impositions 21 or other items so long as Trustor takes steps to ensure that Beneficiary's security is not 22 threatened in any manner. Trustor shall pay all costs of the proceedings, including any costs or 23 fees incurred by Beneficiary. Upon the final determination of any proceeding or contest, Trustor 24 shall immediately pay the amounts due, together with all costs, charges, interest and penalties 25 incidental to the proceedings. 26 27 ARTICLE 5. RENTS AND PROFITS. Trustor acknowledges and agrees that the Property 28 shall at all times be occupied by the Trustor as the Trustor's primary residence and shall not be 29 leased or rented during the term of the Note and this Deed of Trust. Notwithstanding the 30 foregoing, any rents, royalties, issues, profits, revenue, income and other benefits of the Property 31 arising from the use and enjoyment of all or any portion thereof or from any lease or agreement 32 pertaining thereto (the "Rents and Profits "), whether now due, past due, or to become due, and 33 including all prepaid rents and security deposits, are hereby absolutely, presently and 34 unconditionally assigned, transferred, conveyed and set over to Beneficiary to be applied by 35 Beneficiary in the payment of the principal and all other sums payable on the Note and of all 36 other sums payable under this Deed of Trust. It is understood and agreed that neither the 37 foregoing assignment of Rents and Profits to Beneficiary nor the exercise by Beneficiary of any 38 of its rights or remedies under Article 5 hereof shall be deemed to defeat the owner- occupied 39 restriction set forth in the Agreement or to make Beneficiary a mortgagee -in- possession or 40 otherwise responsible or liable in any manner with respect to the Property or the use, occupancy, 41 enjoyment or operation of all or any portion thereof, unless and until Beneficiary, in person or by 42 agent, assumes actual possession thereof. Further, the appointment of a receiver for the Property 43 by any court at the request of Beneficiary or by agreement with Trustor, or the entering into 44 possession of the Property or any part thereof by such receiver, shall not be deemed to make 45 Beneficiary a mortgagee -in- possession or otherwise responsible or liable in any manner with Second Deed of Trust Page 7 1 respect to the Property or the use, occupancy, enjoyment or operation of all or any portion 2 thereof. 4 ARTICLE 6. PRESERVATION AND MAINTENANCE OF PROPERTY. Trustor shall 5 keep the Property and every part thereof in good condition and repair and shall not permit or 6 commit any waste, impairment or deterioration of the Property nor commit, suffer or permit any 7 act upon or use of the Property in violation of law or applicable order of any governmental 8 authority, whether now existing or hereafter enacted and whether foreseen or unforeseen, 9 including, without limitation, violation of any zoning, building or environmental protection 10 statutes, ordinances, regulations, orders and restrictions or in violation of any covenants, 11 conditions or restrictions affecting the Property or bring or keep any article upon any of the 12 Property or cause or permit any condition to exist thereon which would be prohibited by or could 13 invalidate any insurance coverage maintained or required hereunder to be maintained by Trustor 14 on or with respect to any part of the Property and further shall do all other acts which from the 15 character or use of the Property may be reasonably necessary to protect the security hereof, the 16 specific enumerations herein not excluding the general. Trustor shall completely restore and 17 repair promptly and in a good and workmanlike manner any building, structure or improvement 18 thereon which may be damaged or destroyed and pay, when due, all claims for labor performed 19 and materials furnished therefor, whether or not insurance or other proceeds are available to 20 cover, in whole or in part, the costs of any such restoration or repair. Trustor shall notify 21 Beneficiary immediately in writing of any damage to the Property in excess of Ten Thousand 22 Dollars ($10,000.00). 23 24 ARTICLE 7. PROTECTION OF SECURITY: COSTS AND EXPENSES. Trustor shall 25 appear in and defend any action or proceeding purporting to affect the security hereof or the 26 rights or powers of Beneficiary or Trustee and shall pay all reasonable costs and expenses, 27 including, without limitation, costs of evidence of title and reasonable attorney's fees, in any 28 such action or proceeding in which Beneficiary or Trustee may appear and in any suit brought by 29 Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies 30 of Beneficiary hereunder. If Trustor fails to perform any of the covenants or agreements in this 31 Deed of Trust or if any action or proceeding is commenced which affects Beneficiary's interest in 32 the Property or any part thereof, including, but not limited to, eminent domain, code enforcement 33 or proceedings of any nature whatsoever under any federal or state law, whether now existing or 34 hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or 35 other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without 36 obligation to do so and upon ten (10) days' prior written notice to and demand upon Trustor 37 (unless a shorter notice period is necessary to protect Beneficiary's interest in the security hereof, 38 in which case only reasonable notice and demand under the circumstances shall be required) and 39 without releasing Trustor from any obligation hereunder, make such appearances, disburse such 40 sums and take such action as Beneficiary or Trustee deems necessary or appropriate to protect 41 Beneficiary's interest, including, but not limited to, disbursement of reasonable attorney's fees, 42 entry upon the Property to make repairs or otherwise protect the security hereof, and payment, 43 purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of 44 either Beneficiary or Trustee appear to be prior or superior hereto. Trustor further agrees to pay 45 all reasonable expenses of Beneficiary (including fees and disbursements of counsel) reasonably i Second Deed of Trust Page 8 1 related to the protection of the rights of Beneficiary hereunder, and enforcement or collection of 2 payment of the Note, whether by judicial or non judicial proceedings, or in connection with any 3 bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Trustor, 4 or otherwise. Beneficiary shall give Trustor ten (10) days' prior written notice before disbursing 5 any amounts pursuant to this Article. Any amounts disbursed by Beneficiary or Trustee pursuant 6 to this Section shall be additional indebtedness of Trustor secured by this Deed of Trust as of the 7 date of disbursement. All such amounts shall be payable by Trustor immediately without 8 demand. Nothing contained herein shall be construed to require Beneficiary or Trustee to incur 9 any expense, make any appearance or take any other action. 10 11 ARTICLE 8. ENFORCEMENT. 12 13 Section 8.01. Acknowledgement of Enforceability. Trustor represents, warrants, covenants 14 and agrees that it is the lawful owner of the Real Property and that it has good right and lawful 15 authority to encumber the same as provided herein; that the Real Property is free from any and 16 all liens and encumbrances excepting only such as have been approved by Beneficiary and that 17 Trustor warrants and will defend the title to the Property against all claims and demands 18 whatsoever not specifically excepted herein (and except for claims and demands arising from 19 acts or omissions of Beneficiary or any predecessor -in- interest to Beneficiary not previously 20 disclosed to Trustor), and Trustor will execute, acknowledge and deliver all and every such 21 further assurances unto Beneficiary of the title to the Property hereby conveyed and intended so 22 to be or that Trustor may be or shall become hereinafter bound so to do. Trustor covenants and 23 warrants that the Note and this Deed of Trust are valid and enforceable obligations of Trustor in 24 accordance with the terms thereof and hereof, and that this Deed of Trust does not, nor does the 25 Note, nor does the performance or observance by Trustor of any of the matters or things in the 26 Note or this Deed of Trust, contravene any covenant in any indenture or agreement affecting 27 Trustor. 28 29 Section 8.02. Due on Sale and Other Enforcement Provisions. Trustor's agreement to ensure 30 the continued owner occupancy of the Real Property is a substantial material consideration to 31 Beneficiary and Beneficiary's agreement to accept the Note and to accept this Deed of Trust. In 32 accordance with California Civil Code Section 711.5 and in order to induce Beneficiary to 33 accept this Deed of Trust and the Note, Trustor agrees that Trustor shall not Transfer all or any 34 part of the Property without the prior written consent of Beneficiary. Except for a Transfer to a 35 Eligible Household (as defined in the City of San Luis Obispo's Affordable Housing Standards), 36 Beneficiary may grant or deny such consent in its sole and absolute discretion and as a condition 37 to such consent may require any transferee to assume all obligations hereunder and to agree to be 38 bound by all provisions contained herein. In the event of any proposed Transfer, Trustor shall 39 provide Beneficiary with all financial and other information pertaining to the intended transferee 40 reasonably requested by Beneficiary. In the event of any Transfer without the prior written 41 consent of Beneficiary, Beneficiary shall have the absolute right, at its option, without demand 42 or notice, to declare all outstanding Principal and all other sums due hereunder and under the 43 Note to be immediately due and payable. Further, Beneficiary may bring an action at law or in 44 equity to require Trustor and the proposed transferee to terminate and/or rescind any sales 45 contract or purchase and sale transaction between them and/or to declare the transfer void, 0 0 Second Deed of Trust Page 9 1 notwithstanding that the transfer may have closed and become final as between Trustor and the 2 transferee. Further, Beneficiary may pursue any other remedy available under this Deed of Trust 3 or the Note or at law or in equity or under any other agreement, instrument or document entered 4 into by Trustor and Beneficiary. Beneficiary's consent to one Transfer shall not be deemed to be 5 a waiver of the right to require consent to a future or successive Transfer. As used herein, 6 "Transfer" includes any sale, agreement to sell, assignment, exchange or other conveyance of the 7 Property or any portion thereof or any interest therein, whether voluntary or involuntary, by 8 operation of law or otherwise, except that a Transfer by gift, devise or inheritance to a spouse or 9 to a spouse as a part of a dissolution proceeding shall not be considered a Transfer for purposes 10 of this Section. 11 12 ARTICLE 9. EVENTS OF DEFAULT. Each of the following shall constitute an event of 13 default ( "Event of Default ") hereunder (including, if Trustor and Trustee consists of more than 14 one person or entity, the occurrence of any of such events with respect to any one or more of 15 such persons or entities): 16 17 SECTION 9.01. Breach of Covenants. Default by Trustor in the performance of any of the 18 covenants or agreements of Trustor contained herein, in the Note, in the Housing Agreement or 19 any other note or instrument, trust deed or other obligation of Trustor relating to the Property 20 secured by any part of or all of the Property, whether junior or senior to this Deed of Trust. 21 22 SECTION 9.02. Appointment of Trustee. The appointment pursuant to an order of a court of 23 competent jurisdiction, of a trustee, receiver or liquidator of the Property or any part thereof, or 24 of Trustor, or any termination or voluntary suspension of the transaction of business of Trustor, 25 or any attachment, execution or other judicial seizure of all or any substantial portion of Trustor's 26 assets; provided, however, that if such attachment, execution or seizure is involuntary, Trustor 27 shall not be deemed in default unless the same is not discharged within sixty (60) days. 28 29 SECTION 9.03. Bankruptcy Filing. The filing by or against Trustor of a petition in bankruptcy 30 or for an arrangement or for reorganization or for other form of debtor relief pursuant to the 31 federal Bankruptcy Act, as the same may be amended or replaced from time to time, or any other 32 law, federal or state, whether now existing or hereafter amended or enacted relating to 33 insolvency or debtor relief (except that in the case of a filing against Trustor, an Event of Default 34 shall not exist unless Trustor fails to have the proceeding discharged within sixty (60) days after 35 such filing), or the adjudication of Trustor as a bankrupt or an insolvent by a decree of a court of 36 competent jurisdiction, or the making of an assignment for the benefit of creditors, or the 37 admission by Trustor in writing of its inability to pay its debts generally as they become due, or 38 the giving of consent by Trustor to the appointment of a receiver or receivers of all or 39 substantially all of its property. 40 41 SECTION 9.04. Misrepresentations. Any representation or disclosure made to Beneficiary by 42 Trustor as an inducement to the making of the loan evidenced by the Note that proves to be false 43 or misleading in any material respect as of the time the same was made, whether or not any such 44 representation or disclosure appears as part of this Deed of Trust. 45 i Second Deed of Trust Page 10 1 SECTION 9.05. Other Events. Any other event which, under this Deed of Trust, or under the 2 Note or the Agreement, constitutes an Event of Default by Trustor hereunder or thereunder or 3 gives Beneficiary the right to accelerate the maturity of the indebtedness, or any part thereof, 4 secured hereby. 6 ARTICLE 10. REMEDIES. Upon the occurrence of any Event of Default and the expiration 7 of any applicable period within which to cure the same, Trustee and Beneficiary shall have the 8 following rights and remedies: 9 10 SECTION 10.01. Acceleration. Beneficiary may declare the entire outstanding Principal and all 11 other sums or payments required hereunder to be due and payable immediately and 12 notwithstanding the date such sums would otherwise be due in accordance with the Note and the 13 Agreement. 14 15 SECTION 10.02. Entry. Whether or not Beneficiary exercises the right provided in Section 16 10.01 above, Beneficiary, in person or by agent or court- appointed receiver, may enter upon, 17 take possession of, manage and operate the Property or any part thereof and do all things 18 necessary or appropriate in Beneficiary's sole discretion in connection therewith, including, 19 without limitation, making and enforcing, and if the same be subject to modification or 20 cancellation, modifying or canceling leases upon such terms or conditions as Beneficiary deems 21 proper, obtaining and evicting tenants, and fixing or modifying rents, contracting for and making 22 repairs and alterations, and doing any and all other acts which Beneficiary deems proper to 23 protect the security hereof; and either with or without so taking possession, in its own name, in 24 the name of Trustor or by court- appointed receiver (which may be appointed on notice or on ex 25 parte application without notice), suing for or otherwise collecting and receiving the rents and 26 profits, including those past due and unpaid, and applying the same less costs and expenses of 27 operation and collection, including reasonable attorney's fees, upon any indebtedness secured 28 hereby and in such order as Beneficiary may determine. Upon request of Beneficiary, Trustor 29 shall assemble and make available to Beneficiary at the site of the Real Property any of the 30 Property which has been removed therefrom. The entering upon and taking possession of the 31 Property, or any part thereof, the collection of any rents and profits and the application thereof as 32 aforesaid shall not cure or waive any Event of Default theretofore or thereafter occurring or 33 affect any notice or Event of Default or notice, and, notwithstanding continuance in possession 34 of the Property or any part thereof by Beneficiary, Trustor or a receiver, and the collection, 35 receipt and application of the rents and profits, Beneficiary shall be entitled to exercise every 36 right provided for in this Deed of Trust or by law or in equity upon or after the occurrence of an 37 Event of Default, including, without limitation, the right to exercise the power of sale. Any of the 38 actions referred to in this Section may be taken by Beneficiary irrespective of whether any notice 39 of an Event of Default or election to sell has been given hereunder and without regard to the 40 adequacy of the security for the indebtedness hereby secured. 41 42 SECTION 10.03. Judicial Action. Beneficiary may bring an action in any court of competent 43 jurisdiction to foreclose this Deed of Trust or to enforce any of the covenants and agreements of 44 this Deed of Trust, or the Note and the Housing Agreement. 45 10 Second Deed of Trust Page 11 1 SECTION 10.04. Power of Sale. 3 SUBSECTION 10.04(a). Beneficiary may elect to cause the Property or any part thereof to be 4 sold under the power of sale herein granted in any manner permitted by applicable law. In 5 connection with any sale or sales hereunder, Beneficiary may elect to treat any of the Property 6 that consists of a right in action or that is property that can be severed from the Real Property or 7 any improvements thereon without causing structural damage thereto as if the same were 8 personal property and dispose of the same in accordance with applicable law, separate and apart 9 from the sale of the Real Property. 10 11 SUBSECTION 10.04(b). Trustee may, and upon request of Beneficiary shall, from time to time, 12 postpone any sale hereunder by public announcement thereof at the time and place noticed 13 therefor. If the Property consists of several items of property, Beneficiary may designate the 14 order in which such items shall be offered for sale or sold. Any person, including Trustor, 15 Trustee or Beneficiary, may purchase at any sale hereunder, and Beneficiary shall have the right 16 to purchase at any sale hereunder by crediting upon the bid price the amount of all or any part of 17 the indebtedness hereby secured. 18 19 SUBSECTION 10.04(c). Should Beneficiary desire that more than one sale or other disposition 20 of the Property be conducted, Beneficiary may, at its option, cause the same to be conducted 21 simultaneously, or successively, on the same day, or at such different days or times and in such 22 order as Beneficiary may deem to be in its best interests, and no such sale shall terminate or 23 otherwise affect the lien of this Deed of Trust on any part of the Property not sold until all 24 indebtedness secured hereby has been fully paid. Upon any sale hereunder, Trustee shall execute 25 and deliver to the purchaser or purchasers a deed or deeds conveying the Property so .sold, but 26 without any covenant or warranty whatsoever, express or implied, whereupon such purchaser or 27 purchasers shall be let into immediate possession; and the recitals in any such deed or deeds of 28 facts, such as default, the giving of notice of default and notice of sale and other facts affecting 29 the regularity or validity of such sale or disposition, shall be conclusive proof of the truth of such 30 facts and any such deed or deeds shall be conclusive against all persons as to such facts recited 31 therein. 32 33 SUBSECTION 10.04(d). In case of any sale of the Property pursuant to any judgment or decree 34 of any court or at public auction or otherwise in connection with the enforcement of any of the 35 terms of this Deed of Trust, Beneficiary, its successors or assigns, may become the purchaser, 36 and for the purpose of making settlement for or payment of the purchase price, shall be entitled 37 to deliver over and use the Note, together with all other sums, with interest, advanced and unpaid 38 hereunder, in order that there may be credited as paid on the purchase price the sum then due 39 under the Note, including principal thereon and all other sums, with interest, advanced and 40 unpaid hereunder. 41 42 SECTION 10.05. Proceeds of Sale. The proceeds of any sale made under or by virtue of this 43 Article, together with all other sums that then may be held by Trustee or Beneficiary under this 44 Deed of Trust, whether under the provisions of this Article or otherwise, shall be applied as 45 follows: 11 Second Deed of Trust Page 12 2 (a) First, to the payment of the costs and expenses of sale and of any judicial proceedings 3 wherein the same may be made, including reasonable compensation to Trustee and Beneficiary, 4 their agents and counsel, and to the payment of all expenses, liabilities and advances made or 5 incurred by Trustee under this Deed of Trust, together with interest on all advances made by 6 Trustee at the maximum rate permitted by law to be charged by Trustee. 7 8 (b) Second, to the payment of any and all sums expended by Beneficiary under the terms hereof 9 (including, but not limited to, sums paid by Beneficiary on the prior trust deed) not then repaid 10 and all other sums required to be paid by Trustor pursuant to any provisions of this Deed of Trust 11 or the Note, including, without limitation, all expenses, liabilities and advances made or incurred 12 by Beneficiary under this Deed of Trust or in connection with the enforcement hereof, together 13 with interest thereon as herein provided. 14 15 (c) Third, to the payment of the entire amount then due, owing or unpaid upon the Note, 16 including attorney's fees and costs. 17 18 (d) Fourth, all amounts otherwise due Beneficiary. 19 20 (e) The remainder, if any, to the person or persons legally entitled thereto. 21 22 SECTION 10.06. Waiver of Marshaling. Trustor, for itself and for all persons hereafter 23 claiming through or under it or who may at any time hereafter become holders of liens junior to 24 the lien of this Deed of Trust, hereby expressly waives and releases all rights to direct the order 25 in which any of the Property shall be sold in the event of any sale or sales pursuant hereto, and to 26 have any of the Property and/or other property now or hereafter constituted security for any of 27 the indebtedness secured hereby, marshaled upon any foreclosure of this Deed of Trust or for 28 any other security for any of said indebtedness. 29 30 SECTION 10.07. Remedies Cumulative. No remedy herein conferred upon or reserved to 31 Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law 32 provided, but each shall be cumulative and shall be in addition to every other remedy given 33 hereunder or now or hereafter existing at law or in equity or by statute. No delay or omission of 34 Trustee or Beneficiary to exercise any right or power accruing upon any Event of Default shall 35 impair any right or power or shall be construed to be a waiver of any Event of Default or any 36 acquiescence therein; and every power and remedy given by this Deed of Trust to Trustee or 37 Beneficiary may be exercised from time to time as often as may be deemed expedient by Trustee 38 or Beneficiary. If there exists additional security for the performance of the obligations secured 39 hereby, the holder of the Note, at its sole option, and without limiting or affecting any of its 40 rights or remedies hereunder, may exercise any of the rights and remedies to which it may be 41 entitled hereunder either concurrently with whatever rights and remedies it may have in 42 connection with such other security or in such order as it may determine. Any application of any 43 amounts or any portion thereof held by Beneficiary at any item as additional security hereunder, 44 whether pursuant to this deed of trust or otherwise, to any indebtedness secured hereby shall not 45 extend or postpone the due dates of any payments due from Trustor to Beneficiary hereunder or 12 Second Deed of Trust Page 13 1 under the Note, or change the amounts of any such payments or otherwise be construed to cure 2 or waive any default or notice of default hereunder or invalidate any act done pursuant to any 3 such default or notice. In the event that Beneficiary shall have proceeded to enforce any right 4 under this Deed of Trust by foreclosure, sale, entry or otherwise, and such proceedings shall 5 have been discontinued or abandoned for any reason or shall have been determined adversely, 6 then, and in every such case, Trustor and Beneficiary shall be restored to their former positions 7 and rights hereunder with respect to the Property subject to the lien hereof. 9 ARTICLE 11. MISCELLANEOUS 10 11 SECTION 11.01. Severalbility. In the event that any one or more of the provisions contained in 12 this Deed of Trust shall for any reason be held to be invalid, illegal or unenforceable in any 13 respect, such invalidity, illegality or unenforceability shall not affect any other provision of this 14 Deed of Trust, and this Deed of Trust shall be construed as if such invalid, illegal or 15 unenforceable provision had never been contained herein. 16 17 SECTION 11.02. Certain Charges. Trustor agrees to pay the charges of Beneficiary for any 18 service rendered Trustor, or on its behalf, connected with this Deed of Trust or the indebtedness 19 secured hereby, including, without limitation, delivering to an escrow holder a request for full or 20 partial reconveyance of this Deed of Trust, transmitting to an escrow holder moneys secured 21 hereby, changing the records pertaining to this Deed of Trust and indebtedness secured hereby, 22 showing a new owner of the Property and replacing an existing policy of insurance held 23 hereunder with another such policy. 24 25 SECTION 11.03. Notices. All notices expressly provided hereunder to be given by Beneficiary 26 to Trustor and all notices and demands of any kind or nature whatsoever that Trustor may be 27 required or may desire to give to or serve on Beneficiary shall be in writing and shall be served 28 by first class or registered or certified mail, return receipt requested. Any such notice or demand 29 so served shall be deposited in the United States mail, with postage thereon fully prepaid and 30 addressed to the party so to be served at its address above stated or at such other address of 31 which said party shall have theretofore notified in writing, as provided above, the party giving 32 such notice. Service of any such notice or demand so made shall be deemed effective on the date 33 of actual delivery as shown by the addressee's return receipt or the expiration of forty-eight (48) 34 hours after the date of mailing, whichever is the earlier in time, except that service of any notice 35 of default or notice of sale provided or required by law shall, if mailed, be deemed effective on 36 the date of mailing. 37 38 SECTION 11.04. Trustor Not Released. Extension of the time for payment or modification of 39 the terms of payment of any sums secured by this Deed of Trust granted by Beneficiary to any 40 successor -in- interest of Trustor shall not operate to release, in any manner, the liability of the 41. original Trustor. Beneficiary shall not be required to commence proceedings against such 42 successor or refuse to extend time for payment or otherwise modify the terms of the payment of 43 the sums secured by this Deed of Trust by reason of any demand made by the original Trustor. 44 Without affecting the liability of any person, including Trustor, for the payment of any 45 indebtedness secured hereby, or the lien of this Deed of Trust on the remainder of the Property 13 Second Deed of Trust Page 14 1 for the full amount of any such indebtedness and liability unpaid, Beneficiary and Trustee are 2 respectively empowered as follows: Beneficiary may from time to time and without notice (a) 3 release any person liable for the payment of any of the indebtedness, (b) extend the time or 4 otherwise alter the terms of payment of any of the indebtedness, (c) accept additional real or 5 personal property of an kind as security therefor, whether evidenced by deeds of trust, 6 mortgages, security agreements or any other instruments of security, or (d) alter, substitute or 7 release any property securing the indebtedness; Trustee may, at any time and from time to time, 8 upon the written request of Beneficiary (a) consent to the making of any map or plat of the 9 Property or any part thereof, (b) join in granting any easement or creating any restriction thereon, 10 (c) join in any subordination agreement or other agreement affecting this Deed of Trust or the 11 lien or charge hereof, or (d) reconvey, without any warranty, all or part of the Property. 12 13 SECTION 11.05. Inspection. Beneficiary may at any reasonable time or times make or cause to 14 be made entry upon and inspections of the Property or any part thereof in person or by agent. 15 16 SECTION 11.06. Reconveyance. Upon the payment in full of all sums secured by this Deed of 17 Trust or upon forgiveness of such payment in accordance with the Note, Beneficiary shall 18 request that Trustee reconvey the Property and shall surrender this Deed of Trust and Note 19 evidencing indebtedness secured by this Deed of Trust to Trustee. Upon payment of its fees and 20 any other sums owing to it under this Deed of Trust, Trustee shall reconvey the Property without 21 warranty to the person or persons legally entitled thereto. Such person or persons shall pay all 22 costs of recordation, if any. The recitals in such reconveyance of any matters of facts shall be 23 conclusive proof of the truthfulness thereof. The grantee in such reconveyance may be described 24 as "the person or persons legally entitled thereto." Five (5) years after issuance of such full 25 reconveyance, Trustee may destroy the Note and this Deed of Trust unless otherwise directed by 26 Beneficiary. 27 28 SECTION 11.07. Interpretation. Wherever used in this Deed of Trust, unless the context 29 indicates a contrary intent, or unless otherwise specifically provided herein, the word "Trustor" 30 shall mean and include both Trustor and any subsequent owner or owners of the Property, and 31 the word 'Beneficiary" shall mean and include not only the original Beneficiary hereunder but 32 also any future owner and holder, including pledgees, of the Note secured hereby. In this Deed 33 of Trust wherever the context so requires, the masculine gender includes the feminine and/or 34 neuter, and the neuter includes the feminine and/or masculine, and the singular number includes 35 the plural and conversely. In this Deed of Trust, the use of the word "including" shall not be 36 deemed to limit the generality of the term or clause to which it has reference, whether or not 37 non - limiting language (such as "without limitation," or "but not limited to" or words of similar 38 import) is used with reference thereto. The captions and headings of the Articles and Sections of 39 this Deed of Trust are for convenience only and are not to be used to interpret, define or limit the 40 provisions hereof. 41 42 SECTION 11.08. Consent. The granting or withholding of consent by Beneficiary to any 43 transaction as required by the terms hereof shall not be deemed a waiver of the right to require 44 consent to future or successive transactions. 45 14 Second Deed of Trust Page 15 1 SECTION 11.09. Successors and Assigns. All of the grants, obligations, covenants, 2 agreements, terms, provisions and conditions herein shall run with the land and shall apply to, 3 bind, and inure to the benefit of the heirs, administrators, executors, legal representatives, 4 successors and assigns of Trustor and the successors -in -trust of Trustee and the endorsees, 5 transferees, successors and assigns of Beneficiary. In the event that Trustor is composed of more 6 than one party, the obligations, covenants, agreements and warranties contained herein as well as 7 the obligations arising therefrom are and shall be joint and several as to each such party. 8 9 SECTION 11.10. Governing Law. This Deed of Trust shall be governed by and construed under 10 the laws of the State of California. 11 12 SECTION 11.11. Trustor Waivers. Trustor waives the benefit of all laws now existing or that 13 hereafter may be enacted with respect to any statute of limitations for the filing of any action or 14 claims by Beneficiary. 15 16 SECTION 11.12. Superiority of First Lender Documents. 17 18 SUBSECTION 11.12(a). This Deed of Trust shall not diminish or affect the rights of the First 19 Lender under that certain deed of trust dated June 28 , 2 0 0 7, executed by 20 the Trustor in favor of the First Lender and recorded in the County of San L is Obispo on 21 .T„ l y 2f) , 2 nn nom, and assigned Instrument No. 60N G 4trr ;Xr any subsequent 22 First Lender deeds of trust hereafter recorded against the Security (the "First Deed of Trust "), 23 except as provided in Subsection 12.13(b) below. Beneficiary and Trustor acknowledge and 24 agree that this Deed of Trust is subject and subordinate in all respects to the liens, terms, 25 covenants and conditions of the First Deed of Trust and to all advances heretofore made or 26 which may hereafter be made pursuant to the First Deed of Trust including all sums advanced for 27 the purpose of (i) protecting or further securing the lien of the First Deed of Trust, curing 28 defaults by the Trustor under the First Deed of Trust or for any other purpose expressly 29 permitted by the First Deed of Trust or (ii) constructing, renovating, repairing, furnishing, 36 fixturing or equipping the Property. The terms and provisions of the First Deed of Trust are 31 paramount and controlling, and they supersede any other terms and provisions hereof in conflict 32 therewith. 33 34 SUBSECTION 11.12(b). In the event of default, the First Lender may take the following actions 35 to cure the default, provided first that: (i) the Beneficiary has been given written notice of a 36 default under the First Deed of Trust, and (ii) the Beneficiary shall not have cured the default 37 under the First Deed of Trust, or diligently pursued curing the default as determined by the First 38 Lender, within the 60 -day period provided in such notice sent to the Beneficiary: 39 40 1) Foreclose on the subject property pursuant to the remedies permitted by law and written 41 in a recorded contract or deed of trust; or 42 43 2) Accept a deed of trust or assignment to the extent of the value of the unpaid first 44 mortgage to the current market value in lieu of foreclosure in the event of default by a 45 trustor; or 15 Second Deed of Trust Page 16 1 2 3) Sell the property to any person at a fair market value price subsequent to exercising its 3 rights under the deed of trust. Any value in excess of the unpaid mortgage and costs of 4 sale administration shall be used to satisfy the City loan. In no case may a first mortgage 5 lender, exercising foreclosure assignment in -lieu of foreclosure or sale, obtain value or 6 rights to value greater than the value of the outstanding indebtedness on the first 7 mortgage at the time of the debt clearing action. 8 9 The following types of transfers shall remain subject to the requirements of the City's loan and 10 right of first refusal: transfer by gift, devise, or inheritance to the owner's spouse; transfer to a 11 surviving joint tenant; transfer to a spouse as part of divorce or dissolution proceedings; or 12 acquisition in conjunction with a marriage. 13 14 SECTION 11.13. Request for Notices of Default and Sale. 15 16 SUBSECTION 11.13(a). Trustor hereby requests that a copy of any notice of default and notice 17 of sale as may be required by law or by this Deed of Trust be mailed to Trustor at its address 18 above stated. 19 20 SUBSECTION 11.13(b). In accordance with Section 2924b of the California Civil Code, request 21 is hereby made that a copy of any notice of default and a copy of any notice of sale under that 22 deed trust recorded concurrently herewith, be mailed to: Cm omunity Development Director, 23 City of San Luis Obispo, 990 Palm Street, San Luis Obispo, California 93401. 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 SECTION 11.14. No Transfer. Trustor shall not voluntarily or involuntarily (except for a transfer in accordance with the Housing Agreement) assign or otherwise transfer any of its rights, duties, liabilities or obligations hereunder or under the Note without the prior written consent of Beneficiary. SECTION 11.15. Attorney's Fees. In any action to interpret or enforce any provision of this Deed of Trust, the prevailing party shall be entitled to reasonable costs and attorney's fees. IN WITNESS WHEREOF, the undersigned have executed this Deed of Trust as of the day and year first above written. (attach notarization) ' rus or" " Trustor" 16 • STATE OF CALIFORNIA COUNTY OF Q On �� °2Z0 7 before me, kola L. Wingate a Notary Public in and for said State, personally appeared c r personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose names) 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 person(s) acted, executed the instrument. WITNESS my hand and official seal. c Signature _ LOLA L. WINGATE a COMM #1830048 w m NMARYPUBUC•CAUFORNIA SM LUIS OBISPO cOUNn� V -$W -Mq Comm. E)qx Jan. 9.2010 } EXHIBIT A LEGAL DESCRIPTION: PARCEL NO. 1 Unit 38, as shown and described in the Condominium Plan for Phase 1 of Broad Street (together with any amendments thereto, collectively, the "Plan ") which was recorded on October 3, 2006, as Instrument No. 2006 - 69955, in Official Records of San Luis Obispo County, California ( "Official Records "), which Plan concerns a portion of Lot 2 of Tract No. 2534, according to the map ( "Map ") filed on May 11, 2006, in Book 28, at Pages 35 to 38, inclusive, of Maps in the Office of the San Luis Obispo County Recorder. PARCEL NO. 2 An undivided one- twentieth (1/20) fee simple interest as a tenant in common in and to the Common Area described in the Plan. PARCEL NO. 3 Exclusive easements appurtenant to Parcel Nos. 1 and 2 described above, over portions of Lot 1 of Tract No. 2534, for use and enjoyment of yards, patios, decks and porches, all as applicable and as depicted and assigned in the Plan, and described in the Declaration, for use and enjoyment of air conditioner compressor pads, as described in the Declaration, and for internal and external telephone wiring designed to serve a single Unit. PARCEL NO. 4 Nonexclusive easements for access, use, enjoyment, drainage, encroachment, support, maintenance, repairs and for other purposes, all as described or depicted in the Declaration, the Plan and the Map. END OF DOCUMENT'