HomeMy WebLinkAboutD1989-B - Stabler3057 S Higuera Space 220 Deed, Note, AgreementNOTICE OF RIGHT OF RESCISSION
Trust Deed
Loan No. 89-002: Lawrence Jeffrey Stabler
You have entered into a transaction on ;�Q which results in a lien,
mortgage, or other security interest on your home. You have a legal right under federal
law to cancel this transaction if you desire to do so, without any penalty of obligation
within three days from the above date or any later date on which all material disclosures
required under the Truth in Lending Act have been given to you. If you so cancel the
transaction, any lien, mortgage, or other security interest on your home arising from
this transaction is automatically void. You are also entitled to receive a refund of any
down payment or other consideration if you cancel. If you decide to cancel this
transaction, you may do so by notifying:
at City of San Luis Obispo
990 Palm Street
P. O. Box 8100
San Luis Obispo, CA 93403-8100
by mail or telegram sent not later than midnight of
You may also use any other form of written notice identifying the transaction if it is
delivered to the above address not later than that time. This notice may be used for
that purpose by dating and signing below.
I hereby cancel this transaction
Customer's Signature
Date
SEE PAGE 2 FOR IMPORTANT INFORMATION ABOUT YOUR RIGHT OF RESCISSION.
ACKNOWLEDGMENT OF RECEIPT OF TWO COPIES OF THIS NOTICE
Each of the undersigned hereby acknowledges receipt of two copies of the two -page Notice
begun above:
�l-3 _9
Customer's Sig a e Date Customer's Signature Date
Customer's Signature Date Customer's Signature Date
V_`'A RECEIVED
O C T 0 6 2020
SLO CITY CLERK
NOTICE OF RIGHT OF RESCISSION
Trust Deed
Loan No. 89-002: Lawrence Jeffrey Stabler
You have entered into a transaction on — which results in a lien,
mortgage, or other security interest on your home. You have a legal right under federal
law to cancel this transaction if you desire to do so, without any penalty of obligation
within three days from the above date or any later date on which all material disclosures
required under the Truth in Lending Act have been given to you. If you so cancel the
transaction, any lien, mortgage, or other security interest on your home arising from
this transaction is automatically void. You are also entitled to receive a refund of any
down payment or other consideration if you cancel. If you decide to cancel this
transaction, you may do so by notifying:
at City of San Luis Obispo
990 Palm Street
P. O. Box 8100
San Luis Obispo, CA 93403-8100
by mail or telegram sent not later than midnight of
You may also use any other form of written notice identifying the transaction if it is
delivered to the above address not later than that time. This notice may be used for
that purpose by dating and signing below.
I hereby cancel this transaction
Customer's Signature
Date
SEE PAGE 2 FOR IMPORTANT INFORMATION ABOUT YOUR RIGHT OF RESCISSION.
ACKNOWLEDGMENT OF RECEIPT OF TWO COPIES OF THIS NOTICE
Each of the undersigned hereby acknowledges receipt of two copies of the two -page Notice
begun above:
Customer's SigdatWc Date Customer's Signature Date
Customer's Signature Date
Customer's Signature Date
EFFECT OF RESCISSION
When a customer exercises his right to rescind, he is not liable for any finance or other
charge, and any security interest becomes void upon such a rescission. Within 10 days
after receipt of a notice of rescission, the creditor shall return to the customer any
money or property given as earnest money, down payment, or otherwise, and shall take any
action necessary or appropriate to reflect the termination of any security interest
created under the transaction. If the creditor has delivered any property to the
customer, the customer may retain possession of it. Upon the performance of the
creditor's obligations under this section, the customer shall tender the property to the
creditor, except that if return of the property in kind would be impracticable or
inequitable, the customer shall tender its reasonable value. Tender shall be made at the
location of the property or at the residence of the customer, at the option of the
customer. If the creditor does not take possession of the property within 10 days after
tender by the customer, ownership of the property vests in the customer without
obligation on his part to pay for it.
NOTICE OF INTENT TO PROCEED
I hereby certify that I have elected not to cancel or rescind the transaction referred to
on Page I and that I have not delivered mailed or filed for transmission by telegram to
the Creditor any notice of cancellation or rescission of that transaction.
(Date and mail or deliver
no sooner than 3 business
days after date of receipt)
(Customer's Signature)
(All joint owners must sign)
NOTICE OF RIGHT OF RESCISSION 2
NOTICE OF RIGHT OF RESCISSION
Trust Deed
Loan No. 89-002: Lawrence Jeffrey Stabler
You have entered into a transaction on which results in a lien,
mortgage, or other security interest on your home. You have a legal right under federal
law to cancel this transaction if you desire to do so, without any penalty of obligation
within three days from the above date or any later date on which all material disclosures
required under the Truth in Lending Act have been given to you. If you so cancel the
transaction, any lien, mortgage, or other security interest on your home arising from
this transaction is automatically void. You are also entitled to receive a refund of any
down payment or other consideration if you cancel. If you decide to cancel this
transaction, you may do so by notifying:
at City of San Luis Obispo
990 Palm Street
P. O. Box 8100
San Luis Obispo, CA 93403-8100
by mail or telegram sent not later than midnight of
// 7 V119
You may also use any other form of written notice identifying the transaction if it is
delivered to the above address not later than that time. This notice may be used for
that purpose by dating and signing below.
I hereby cancel this transaction
Customer's Signature Date
SEE PAGE 2 FOR IMPORTANT INFORMATION ABOUT YOUR RIGHT OF RESCISSION.
ACKNOWLEDGMENT OF RECEIPT OF TWO COPIES OF THIS NOTICE
Each of the undersigned hereby acknowledges receipt of two copies of the two -page Notice
begun above:
Customer's Sig re :f ate Customer's Signature Date
Customer's Signature Date
Customer's Signature Date
EFFECT OF RESCISSION
When a customer exercises his right to rescind, he is not liable for any finance or other
charge, and any security interest becomes void upon such a rescission. Within 10 days
after receipt of a notice of rescission, the creditor shall return to the customer any
money or property given as earnest money, down payment, or otherwise, and shall take any
action necessary or appropriate to reflect the termination of any security interest
created under the transaction. If the creditor has delivered any property to the
customer, the customer may retain possession of it. Upon the performance of the
creditor's obligations under this section, the customer shall tender the property to the
creditor, except that if return of the property in kind would be impracticable or
inequitable, the customer shall tender its reasonable value. Tender shall be made at the
location of the property or at the residence of the customer, at the option of the
customer. If the creditor does not take possession of the property within 10 days after
tender by the customer, ownership of the property vests in the customer without
obligation on his part to pay for it.
NOTICE OF INTENT TO PROCEED
I hereby certify that I have elected not to cancel or rescind the transaction referred to
on Page 1 and that I have not delivered mailed or filed for transmission by telegram to
the Creditor any notice of cancellation or rescission of that transaction.
Voy e6 J�),-69 gaeeLA, , "'Ir- <�e&
(Date and mail or deliver (Customer's Signa)&
no sooner than 3 business
days after date of receipt)
(All joint owners must sign)
NOTICE OF RIGHT OF RESCISSION 2
Loan No. 89-002
CITY OF SAN LUIS OBISPO
MOBILEHOME PARK ASSISTANCE PROGRAM
NOTICE TO BORROWER
THIS DOCUMENT CONTAINS PROVISIONS RESTRICTING ASSUMPTIONS,
IS SECURED BY A DEED OF TRUST AND
HAS A BALLOON PAYMENT.
PROMISSORY NOTE
$ 14,575.00 October 16 , 1989 ,
FOR VALUE RECEIVED, the undersigned (individually or collectively "Borrower") promises to
pay the City of San Luis Obispo (together with its successors in interest herein referred
to as the "City"), or Holder, the principal sum of Fourteen thousand five huridred sevent five
Dollars, ($ 14,575.00 J, with interest on the unpaid
principal balance from the date of this Promissory Note ("Note") until paid, at the rate
of seven percent (7%) per annum. Principal and interest shall be payable at the
principal office of the holder hereof, 990 Palm Street, San Luis Obispo, California
93401.
Payment shall be made as follows:
One payment of principal and accrued interest (Balloon Payment),
totaling $ 45,182.50
due on October 16 2019
1. BORROWER'S OBLIGATION.
This note evidences funds loaned to Borrower to acquire and own, or to continue
to own and occupy that certain mobilehome, and related real and personal
property interests in such mobilehome, the mobilehome park space occupied by
such mobilehome, the Borrower's membership rights in any homeowner's association
or cooperative corporation pertaining to the mobilehome, (collectively the
"Property") as are described in that certain deed of trust (the "Deed of Trust")
and security and pledge agreement (the "Security Agreement") dated as of this
date and securing the indebtedness of Borrower evidenced by this Note.
2. PRINCIPAL PLACE OF RESIDENCE.
BORROWER WARRANTS THAT BORROWER WILL OCCUPY THE PROPERTY AS
BORROWER'S PRINCIPAL RESIDENCE AND THAT FAILURE TO DO SO SHALL
CAUSE ALL PRINCIPAL AND INTEREST ON THIS NOTE TO BECOME
IMMEDIATELY DUE AND PAYABLE.
3. ACCELERATION.
In the event of default under this Note, the entire principal amount outstanding
and accrued interest thereon will at once become due and payable at the option
of the Note holder. The date specified will be not less than thirty (30) days
from the date notice is mailed. The Note holder may exercise this option to
accelerate this Note during any default by Borrower regardless of any prior
forbearance. If suit is brought to collect this Note, the Note holder shall be
entitled to collect all reasonable costs and expenses of suit, including, but
not limited to attorney's fees, including fees paid to the Attorney General of
the State of California.
4. APPLICATION OF PAYMENTS.
Borrower may prepay, without penalty, the principal amount of this Note
outstanding in whole or in part at any time. Any partial prepayment will be
applied first against accumulated interest and then against the principal amount
outstanding. No prepayment will postpone the due date of the scheduled payment
unless the Note holder otherwise agrees in writing.
5. BORROWER'S WAIVER.
Presentment, notice of dishonor, and protest are hereby waived by all makers,
sureties, guarantors and endorsers hereof. This Note is the joint and several
obligation of all makers, sureties, guarantors and endorsers, and shall be
binding upon them and their successors and assigns.
6. NOTICES.
Any notice to Borrower provided for in this Note will be given by mailing such
notice by certified mail addressed to Borrower at the property address stated
below, or at such other address as Borrower may designate by notice to Note
holder. Any notice to the Note holder will be given by mailing such notice by
certified mail, return receipt requested, to the Note holder at the address
stated in the first paragraph of this Note, or at such other address as may have
been designated by notice to Borrower.
7. PROHIBITION AGAINST TRANSFER OF INTEREST.
Incorporation by reference is hereby made of the provisions of the Deed of Trust
and Security Agreement including but not limited to the right of acceleration
upon prohibited transfer of the Property, set forth and defined in the Deed of
Trust and Security Agreement, which provide in pertinent part as follows:
LOAN NOT ASSUMABLE, TRANSFER OF
PROPERTY PROHIBITED: LIMITED EXCEPTIONS.
Where City administered funds continue to be used in financing the purchase or
continued use of the Property, no transfer of the Property will be permitted,
and no successor in interest to the Borrower(s) will be permitted to assume the
Borrower's loan evidenced by this Note, unless the written consent of the City
Promissory Note 2
B rrower
Borrower
to the transfer has been first obtained. No such consent will be given by the
City except in the following limited circumstances:
(1) The transfer results from the death of a Borrower and the transfer
is to the surviving spouse of the Borrower and the surviving spouse
is also a Borrower;
(2) A transfer by a Borrower to his or her spouse when the spouse
becomes by such transfer a co-owner of the Property;
(3) A transfer of the Property resulting from a decree of dissolution
of the marriage or legal separation or from a property settlement
agreement incidental to such a decree which requires the Borrower
to continue to make payments on the Note and by which a spouse who
is already a Borrower becomes the sole owner of the Property.
(4) A transfer by a Borrower to an inter vivos trust in which the
Borrower is the sole beneficiary.
(5) A transfer by means of encumbering the Property with a lien which
is junior to the lien securing the loan evidenced by this Note to
Borrower.
Any other transfer of the Property shall constitute a material breach of this
agreement, and the total principal and interest shall become immediately due.
S. A { tt2-7,-20
Address of Borrower
Promissory Note 3
' Ilecording r ec];_��efJisteccl by
V V i�GWS 1�{�J�
A TITLE GUARANTY I/
C0 .
' 12161 I-C
FREE -RECORDING REQUESTED
PURSUANT°``TO GOVERNMENT
CODE SECTION 27383
WHEN RECORDED PLEASE MAIL TO:
CITY OF SAN LUIS OBISPO
990 Palm Street
P.O. Box 8100
San Luis Obispo, CA 93403-8100
(Space above this line for Recorder's Use)
DOC. NC?.
OFFICIAL RECORDS
SAN LUIS 061spo Co., CA
NOV 0 9 1989
FRANCISS M. COONEY
County Clerk -Recorder
TIME 8:00 AAA
Loan No. 9-002
CITY OF SAN LUIS OBISPO
MOBILEHOME PARK ASSISTANCE PROGRAM
NOTICE TO BORROWER
THIS DEED OF TRUST CONTAINS
PROVISIONS RESTRICTING ASSUMPTIONS
DEED OF TRUST WITH ASSIGNMENT OF RENTS
THIS DEED OF TRUST, made this 16th day of October 1989 , among the
Trustors Lawrence Jeffrey Stabler (individually and
collectively "Borrower"), and Cuesta Title Guilrantv Company ("Trustee"),
and the Beneficiary, the City of San Luis Obispo, whose address is set forth above
(together with its successors in interest referred to herein as the "City").
BORROWER, in consideration of the indebtedness herein recited and the trust herein
created, irrevocably grants and conveys to Trustee, in trust, with power of sale, the
property located in the County of San Luis Obispo, State of California, described in
Exhibit "A" attached hereto and made a part hereof by reference;
TOGETHER with all the improvement now and hereafter erected on the Property, and all
easements, rights, appurtenances, and all fixtures now or hereafter attached to the
Property covered by this Deed of Trust; and all of the foregoing, together with said
property are herein referred to as the "Property";
TO SECURE to City the repayment of the indebtedness evidenced by Borrower's
promissory note dated October 16 1989 (the "Note"), in the principal sum
of Fourteen thousand five hundred seventy five Dollars
($14,575.00 ), with interest thereon, due and payable on October 16
2019 ; the payment of all other sums, with interest thereon, advanced in accordance
herewith to protect the security of this Deed of Trust; and the performance of the
covenants and agreements of Borrower herein contained, and in a Security Agreement
between Borrower and City of even date herewith.
This Deed of Trust is junior and second in lien to a deed of trust in the amount
of $14,782.00, in favor of State of California, Department of Housing and Community
Development which is being recorded concurrently herewith.
VOL 3 412 PAGE 432
BORROWER AND CITY COVENANT AND AGREE AS FOLLOWS:
1. Borrower's Estate, That Borrower lawfully owns the estate hereby conveyed and
has the right to grant and convey the Property and Borrower will warrant and defend
generally the title to the Property against all claims and demands, subject to any
declarations, easements, or restrictions listed in a schedule of exceptions to coverage
in any title insurance policy insuring City's interest in the Property.
2. Payment of Princi al And lnt r st. Borrower will promptly pay when due the
principal of and interest on the indebtedness evidenced by the Note and late charges as
provided by the Note.
3. ADAlication of Payments. Unless applicable law provides otherwise, all payments
received by City under the Note and payments of Funds will be applied by City first in
payment of taxes and assessments, then to interest payable on the Note, and then to the
principal of the Note.
4. junior Encumbrances. Any subsequent encumbrancer of the Property is hereby
notified that upon exercise of any power of sale or foreclosure by encumbrancer, such
encumbrancer will take title to the Property subject to this Deed of Trust, and more
specifically, subject to paragraph 12 of this Deed of Trust prohibiting assumptions of
the loan made by City to Borrower, except as specified in said paragraph.
5. Charges: Liens. Borrower will pay all taxes, assessments and other charges,
fines and impositions attributable to the Property which may attain a priority over this
Deed of Trust, at or prior to the time they are required to be paid, by Borrower making
payment, directly to the payee thereof. Borrower will promptly furnish to Lender
receipts evidencing such payments. Borrower will promptly discharge any lien which has
priority over this Deed of Trust; provided, that Borrower will not be required to
discharge any such lien so long as Borrower will agree in writing to the payment of the
obligation secured by lien in a manner acceptable to City or will in good faith contest
such lien by, or defend enforcement of such lien in, legal proceedings which operate to
prevent the enforcement of the lien or forfeiture of the Property or any part thereof.
6. Hazard Insurance. Borrower will keep the improvement(s) now existing or
hereafter erected on the Property insured in such amounts and for such periods as City
may require, which amounts shall be greater of (1) the outstanding principal balance of
the Note plus the amount of any other loan for or secured by the property, (2) the
amount, in City's determination, necessary to prevent Borrower from becoming a
co-insurer, or (3) the amount of the replacement cost of the Propert;/.
The insurance carrier providing this insurance shall be licensed to do business in
the State of California and be chosen by Borrower subject to approval by City; provided,
that such approval will not be unreasonably withheld.
All insurance policies and renewals thereof will be in a form acceptable to City and
will include a standard mortgagee clause with standard endorsement number 438BFU in favor
of and in a form acceptable to City.
Unless City and Borrower otherwise agree in writing, insurance proceeds will be
applied to restoration or repair of the Property damaged, provided such restoration or
repair is economically feasible and the security of this Deed of Trust is not thereby
Deed of Trust
2
VOL 3 412 PAGL 433
impaired. If such restoration or repair is not economically feasible or if the security
of this Deed of Trust would be impaired, the insurance proceeds will be applied to the
sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. If the
Property is abandoned by Borrower, or if Borrower fails to respond to City within thirty
(30) days from the date notice is mailed by City to Borrower that the insurance carrier
offers to settle a claim for insurance benefits, City is authorized to collect and apply
the insurance proceeds at City's option either to restoration or repair of the Property
or to the sums secured by this Deed of Trust.
Unless City or Borrower otherwise agree in writing, any such application of proceeds
to principal will not extend or postpone the due date of the payment referred to above.
If the Property is acquired by City, all right, title and interest of Borrower in and to
any insurance policies and in and to the proceeds thereof resulting from damage to the
Property prior to the sale or acquisition will pass to Lender to the extent of the sums
secured by this Deed of Trust immediately prior to such sale or acquisition.
7. Tres rvation and Maintenance ,of Proterty. Condominigm. Coomgtives. Planned Unit
Develonmcnts. Borrower will keep the Property in good repair and will not commit waste
or permit impairment or deterioration of the Property. If this Deed of Trust is on a
unit in a condominium, a planned unit development, or cooperative, Borrower will perform
all of Borrower's obligations under the declaration or covenants, conditions and
restrictions, creating or governing the condominium, planned unit development, or
cooperative, the bylaws and regulations of the condominium, planned unit development, or
cooperative and constituent documents. Borrower will not, without City's prior written
consent, agree to the abandonment or termination of the condominium, planned unit
development or cooperative, any change in the percentage interest of owners in the common
areas and facilities of the condominium, planned unit development, or cooperative or the
termination of professional management and assumption of self -management of the
condominium, planned unit development, or cooperative. If a condominium, planned unit
development, or cooperative rider is executed by Borrower and recorded together with this
Deed of Trust, the covenants and agreements of such rider are incorporated herein by this
reference.
8. Protection_ of City Security. If Borrower fails to perform the covenants and
agreements contained in this Deed of Trust, or if any action or proceeding is commenced
which materially affects City's interest in the Property, including, but not limited to,
eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a
bankrupt or decedent, then City at City's option, upon notice to Borrower, may make such
appearances, disburse such sums and take such action as is necessary to protect City's
interest, including, but not limited to, disbursement of reasonable attorney's fees and
entry upon the Property to make repairs.
Any amounts disbursed by City pursuant to this paragraph, with interest thereon, will
become additional indebtedness of Borrower secured by this Deed of Trust. Unless
Borrower and City agree to other terms of payment, such amounts will be payable upon
notice from City to Borrower requesting payment thereof, and will bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under
the Note unless payment of interest at such rate would be contrary to applicable law, in
which event such amounts will bear interest at the highest rate permissible under
applicable law. Nothing contained in this paragraph will require City to incur any
expense or take any action hereunder.
Deed of Trust 3
VOL 3 412 PAGE 434
9. Inspection. City may make permissible or cause to be made reasonable entries
upon and inspections of the Property, provided that City will give Borrower reasonable
notice of inspection.
10. Condemnation. The proceeds of any award or claim for damages, direct or
consequential, in connection with any condemnation or other taking of the Property, or
part thereof, or for conveyance in lieu of condemnation, are hereby assigned and will be
paid to City.
In the event of a total taking of the Property, the proceeds will be applied to the
sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. In the
event of a partial taking of the Property, unless Borrower and City otherwise agree in
writing, there will be applied to the sums secured by this Deed of Trust such proportion
of the proceeds as is equal to that proportion which the amount of sums secured by this
Deed of Trust immediately prior to the date of taking bears to the fair market value of
the Property immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Borrower, or if, after notice by City to Borrower
that the condemnor offers to make an award or settle a claim for damages, Borrower fails
to respond to City within thirty (30) days after the date such notice is mailed, City is
authorized to collect and apply the proceeds, at City's option, either to restoration or
repair of the Property or to the sums secured by this Deed of Trust.
Unless City and Borrower otherwise agree in writing, any such application of proceeds
to principal will not extend or postpone the due date of any scheduled payment referred
to above or change the amount of such payment.
11. Forbearance b City Not a Waiver. Any forbearance by City in exercising any
right or remedy will not be a waiver of the exercise of any such right or remedy. The
procurement of insurance or the payment of taxes or other liens or charges by City will
not be a waiver of City's rights to accelerate the maturity of the indebtedness secured
by this Deed of Trust.
12. Loan Not Assumable Transfer of Property Prohibited- Limited Exceptions. Where
City administered funds continue to be used in financing the purchase or continued use of
the Property, no transfer of the Property will be permitted, and no successor in interest
to the Borrower(s) will be permitted to assume the Borrower(s) loan evidenced by this
Note, unless the written consent of City to the transfer has been first obtained. No
such consent will be given by the City except iii the following limited circumstances:
a) The transfer results from the death of a Borrower and the transfer is to the
surviving spouse of the Borrower and the surviving spouse is also a Borrower;
b) A transfer by a Borrower to his or her spouse when the spouse becomes by such
transfer a co-owner of the Property;
c) A transfer of the Property resulting from a decree of dissolution of the
marriage or legal separation or from a property settlement agreement incidental
to such a decree which requires the Borrower to continue to make payments on the
Note and by which a spouse who is already a Borrower becomes the sole owner of
the Property.
Deed of Trust
4
VOL 3412PAGE 435
d) A transfer by a Borrower to an inter vivos trust in which the Borrower is the
sole beneficiary.
e) A transfer by means of encumbering the Property with a lien which is junior to
the lien securing the loan to Borrower evidenced by this Deed of Trust.
13. Events of Default: Acceleration. Intention of Foreclosure. Any one or more of
the following events shall constitute a default under this Deed of Trust: (a) failure of
the Borrower to pay the indebtedness secured hereby, whether principal, interest or
otherwise, when and as the same becomes due and payable, whether at maturity or by
acceleration or otherwise; or (b) failure of Borrower to observe or to perform any
covenant, condition or agreement to be observed or performed by Borrower pursuant to this
Deed of Trust, the Note or the Security Agreement.
In the event of any default as set forth in this paragraph, City, without demand on
Borrower, may declare all sums hereby secured immediately due and payable by notice
thereof to the Borrower or by executing and recording or by causing the Trustee to
execute and record a notice of default and election to cause the Property to be sold to
satisfy the obligations secured hereby or by the commencement of an appropriate action to
foreclose this Deed of Trust or by any other appropriate manner.
14. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct
and cumulative to any other right or remedy under this Deed of Trust or afforded by law
or equity, and may be exercised concurrently, independently or successively.
15. Succosors and Assigns Bound. The covenants and agreements herein contained
shall bind, and the rights hereunder shall insure to, the respective successors and
assigns of Lender and Borrower subject to the provisions of this Deed of Trust.
16. Joint and Several Liabilit . All covenants and agreements of Borrower shall be
joint and several.
17. Notice. Except for any notice required under applicable law to be given in
another manner, (a) any notice to Borrower provided for in this Deed of Trust will be
given by certified mail, addressed to Borrower at the Property address or such other
address as Borrower may designate by notice to Lender as provided herein, and (b) any
notice to City will be given by certified mail, return receipt requested, to City's
address stated above, or to such other address as Lender may designate by notice to
Borrower as provided above.
18. Governing Law. This Deed of Trust shall be governed by the laws of the State of
California.
19. Severability. In the event that any provision or clause of this Deed of Trust
or the Note conflicts with applicable law, such conflict will not affect other provisions
of this Deed of Trust or the Note which can be given effect without the conflicting
provision, and to this end with provisions of the Deed of Trust and the Note are declared
to be severable.
20. Captions. The captions and headings in this Deed of Trust are for convenience
only and are not to be used to interpret or define the provisions hereof.
Deed of Trust 5
VOL 3 412 PAGE 436
21. Reconvevance. Upon payment of all sums secured by this Deed of Trust, Lender
will request Trustee to reconvey the Property and will surrender this Deed of Trust and
the Note evidencing the indebtedness secured by this Deed of Trust to Trustee. Trustee
will reconvey the Property without warranty and without charge to the person or persons
legally entitled thereto. Such person or persons will pay all costs of recordation, if
any.
22. Substitute Trustee. City, at City's option, may from time to time remove
Trustee and appoint a successor trustee to any Trustee appointed hereunder. Without
conveyance of the Property, the successor trustee will succeed to all the title, power
and duties conferred upon the Trustee herein and by applicable law.
23. Rcrtuest for Noticcs. Borrower requests that copies of the notice of default and
notice of sale be sent to Borrower's address which is the Property.
24. Beneficiary Statcmcnt. The City may charge a fee of fifty dollars ($50) for
furnishing any statement required by California Civil Code Section 2943.
IN WITNESS WHEREOF, BORROWER HAS EXECUTED THIS DEED OF TRUST.
Borrower
Borrower
INDIVIDUAL ACKNOWLEDGMENT
State of California San Luis Obispo S.S.
County of
3r November 1989 R. miller
On this day of , in the year— - _ _,
a Notary Public in and for the
Lli1S ��}15�- -County, personally appeared LAWF� 1G rJEFFREY STABLER
l_
❑ personally known to me b proved to me on the basis of satisfactory evidence
to be the person(s) whose name is subscribed to this instrument, and acknowledged that —he— executed
it.
(SEAL)
P-169 7-83
Deed of Trust
EO.
LSAN
OFFICIAL SEAL
R. MILLER
pfary Public-Caf!lornia
LUlS gB!5Pt7 CS7t!NTY
omm. Fxp, June 18, tqgU
WITNE d and of#' ' sea
Notary Public in and for the. San Luis
Obispo County and State.
My commission expires `� , 1911E
31
VOL 3 412 PAGE 437
EXHIBIT A
LEGAL DESCRIPTION
A CONDOMINIUM UNIT COMPRISED OF:
PARCEL 1: AN UNDIVIDED 1/2351H INTEREST IN AND TO LOT 1, TRACT 1476, CHUMASH
VILLAGE MOBILE HOME PARK, CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO,
STATE OF CALIFORNIA, ACCORDING TO THE MAP THEREOF RECORDED JUNE 29, 1987 IN BOOK
13, PAGE 98 OF MAPS.
EXCEPTING THEREFROM THE FOLLOWING:
(A) UNITS 1 THROUGH 136, 138 THROUGH 143 AND 145 THROUGH 237, INCLUSIVE, AS SHOWN
AND DEFINED ON THAT CERTAIN CHUMASH VILLAGE CONDOMINIUM PLAN RECORDED NOVEMBER 16,
1987 AS INSTRUMENT NO. 80994 IN BOOK 3074, PAGE 83 OF OFFICIAL RECORDS.
(B) THE EXCLUSIVE RIGHT TO POSSESSION OF THOSE PORTIONS DESIGNATED AS EXCLUSIVE
USE AREAS ON THE ABOVE REFERENCED CONDOMINIUM PLAN.
PARCEL 2: UNIT NO() AS SHOWN AND DEFINED ON THE CONDOMINIUM PLAN REFERRED TO
ABOVE.
PARCEL 3: THE: EXCLUSIVE RIGHT TO POSSESSION OF THOSE AREAS DESIGNATED AS
EXCLUSIVE USE AREAS ON THE CONDOMINIUM PLAN REFERRED TO ABOVE, AS APPURTENANT TO
PARCELS 1 AND 2 ABOVE DESCRIBED.
END OF DOCUMENT VOL 3412KGE 438
DATE STAMP AREA
DSTATE OF CALIFORNIA
DEPARTMENT USE ONLY
COLLECTION REPORT NO. DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
DIVISION OF CODES AND STANDARDS
MANUFACTURED HOUSING SECTION
AMOUNT
TRAN CODE
HCD 480.7
STATEMENT OF LIEN
As authorized under Section 18077, Health and Safety Code, a loan of money on the security of the described mobilehome or commercial
coach has been agreed upon by the parties indicated below, and such parties do hereby agree and request that, under Section 18077.1, Health
and Safety Code, the Department of Housing and Community Development record and rank, in priority of receipt, the aforementioned lien as a
security interest following the Legal Owner of record.
DESCRIPTION OF MOBILEHOME OR COMMERCIAL COACH
NOTE: If a multiple unit mobilehome is currently registered under multiple decals (or license plates), show the number for each
and the corresponding serial numbers. If registered under one decal, show the decal number once, followed by a vertical
line in the decal column to correspond with the serial numbers.
DECAL
ILICENS
NU Mt3 Eli r9i
MANUFACTURER
TRADE NAME
SERIAL NUMBER(S)
HUD LABEL OR HCD INSIGNIA NUMBER(s)
AA ia34
Sk line
SU1751040U
$8944
68945
S0I75I040X
JUNIOR LIENHOLDER (PRINT CAREFULLY)
NAME r r
CI"11' OF SA)v LUIS OLISPO
FINANCE DEFIRRTMENT
ADDRESS CITY STATE ZIP
P.O. MIX ciou :;�� LUIS 0l3ISP0 CA F3403-8100
AUTHORIZED SIGNATURE DATE
REGISTERED OWNER NAME(S)
NAME(S) (LAST) FIRST MIDDLE
STABLER, I..AWRENCE JEFFREY
LAST
Si
INSTRUCTIONS:
Within 10 days after completing and signing this form, forward the
form along with the Registered Owner's copy of the last issued
Registration Card and a fee of $ 3 — Direct Application OR
$10 — Telecopy Application
to: Department of Housing and Community Development
Division of Codes/Standards, Manufactured Housing Section
P.O. Box 1828, Sacramento, CA 95801
SECTION 18077.2, HEALTH AND SAFETY CODE PROHIBITS PERFEC-
TION OF A SECURITY LIEN BY THE DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT UNTIL A SIGNED STATEMENT OF LIEN
FORM IS DULY FILED WITH THE DEPARTMENT.
FIRST) (MIDDLE)
F
E
E
TELECOPY TRANSMISSION INFORMATION
TRANSMISSION TELEPHONE NO. TELECOPY RECEIPT DATE
OPERATOR LAST NAME
EQUIPMENT DESCRIPTION:
AUTOMATIC
MANUAL
SHOW THE
MAKE:
SHOW THE
MINUTES:
2nd Copy To be retained by Junior Lienholder.
CITY OF SAN LUIS OBISPO, CALIFORNIA
MOBILEHOME PARK ASSISTANCE PROGRAM
SECURITY AND PLEDGE AGREEMENT
In consideration of the agreements of the parties hereafter set forth, the undersigned
Borrower grants to the Secured Party a security interest in the collateral described in
paragraph (3) and delivered or the documents constituting Borrowers title thereto having
been delivered, into the possession of the secured party. The security interest under
this agreement secures payment of all of the Borrower's indebtedness, including debts,
obligations or liabilities which now exist or are hereafter created, and whether they are
absolute or contingent, and includes future advances.
1. BORROWER:
Lawrence Jeffrey Stabler
3057 South Higuera, Space 220
San Luis Obispo, CA 93401
2. SECURED PARTY:
City of San Luis Obispo
P.O. Box 8100
San Luis Obispo, CA 93403-8100
3. DESCRIPTION OF COLLATERAL:
1973 Skyline, Serial #50175104DU and S0175104DX, Decal #AAF1334
4. WARRANTIES AND REPRESENTATIONS: Borrower warrants as follows:
a. Title. Borrower has title to the collateral pledged
b. Authority to Borrow. Borrower has authority to enter into this agreement
and the person signing it is authorized by debtor to execute the agreement.
C. Collateral. The collateral is genuine, and free from default, defenses and
conditions. All persons obligated upon the collateral have authority and
capacity to contract. If the collateral or part of it consists of chattel
paper, the collateral which is the subject of such chattel paper is
perfected and preserved.
d. Othcr Information. The information supplied by the Borrower to the secured
party is true and correct.
5. COVENANTS AND AGREEMENTS: Borrower covenants and agrees as follows:
a. Payment. Borrower will pay the indebtedness promptly when due and will
repay immediately all expenses, including reasonable attorney's fees and
legal expenses, incurred by the secured party under the agreement, together
with interest at seven (7%) from the date of expenditure.
b. Fin nqi l Condition '. Borrower will not bring and will not permit to be
brought a proceeding in bankruptcy, receivership or similar proceeding
concerned with voluntary or involuntary liquidation, reorganization or
dissolution, nor will it make an assignment for the benefit of creditors,
or become insolvent.
C. Information and ❑ocuments. Upon the Secured Party's demand Borrower will
establish the correctness of information supplied and will execute
agreements, assignments or documents necessary or advisable to carry out
the purposes of this security agreement.
d. Sale, Lease or ❑isposition. Borrower will not sell, contract to sell,
lease, encumber or dispose of the collateral pledged under this agreement
until the indebtedness is charged without the Secured Party's consent.
C. ❑efense of Dille. Borrower will appear and defend each action and
proceeding which may affect the Secured Party's interest in the collateral.
f. Avvointment of Secured Party as Attorney in fact. Borrower appoints the
Secured Party as Borrower's attorney in fact to do any act which Borrower
is obligated by this agreement to do, and to exercise the rights that the
Borrower may exercise under this agreement, to use the collateral pledged
as debtor might use it and to protect and preserve the secured party's
rights under this agreement and in the collateral. Borrower agrees to
reimburse the Secured Party for expenses which it may incur while acting as
Borrower's attorney in fact.
g. Secured Party's Power over Collateral. Borrower authorizes secured party
to perform every act which the secured party considers necessary to protect
and preserve the collateral and the secured party's interest in it. This
authority includes, but is not limited to entering into extension, deposit,
merger or consolidation agreements, compromising disputes and repledging
collateral.
h. Assignment of Collateral and _ Profits and Proceeds. Borrower assigns for
the term of this agreement all of its rights to use of the collateral and
to the use of the profits or proceeds from the collateral, including stock
rights, rights to subscribe, dividends, stock dividends, stock splits,
liquidating dividends and interest Borrower agrees to deliver to Secured
Party any property which Borrower receives which represents an increase in
the collateral or profits or proceeds from the collateral.
i. Waiver. Borrower waives any right to require the secured party to proceed
against another person or to exhaust the collateral or to pursue any other
remedy which the secured party may have. Borrower waives presentment,
demand for performance, notice of nonperformance, protest, notice of
protest, and dishonor with respect to the collateral. Borrower waives the
right to require the secured party to preserve rights against prior parties
to instruments or chattel paper.
Security and Pledge Agreement 2
6. DEFAULT AND REMEDIES. Borrower agrees that if (a) a warranty or representation is
false; (b) Borrower violates any covenant or agreement; or (c) Secured Party in good
faith considers itself insecure because the prospect of payment is impaired, or the
prospect of performance of an agreement or covenant is impaired or the value or
priority of the Security Interest is impaired, the Security party had the rights and
remedies provided by the California Uniform Commercial Code and to the extent
provided by law may:
a. Ex enscs. Incur expenses, including reasonable attorney's fees and legal
expenses, to exercise any right or power under this agreement.
b. Performance of Borrower's Oblipations. Perform any obligation of the
Borrower and may make payments, purchase, or compromise any encumbrance,
charge or lien, and pay taxes and expenses.
C. et -off. Exercise rights of set-off.
d. Default. Declare that a default has occurred.
C. Acceleration. Declare that the entire indebtedness is immediately due and
payable.
f. Suit, Disposition of Collateral and Application of Proceeds Sue the
Borrower or any other person or entity liable for the debt, retain the
collateral in satisfaction of the obligation, dispose of the collateral,
and apply the proceeds of disposition, including provision for reasonable
attorney's fees and legal expenses incurred by secured party.
7. RULES OF CONSTRUCTION: The parties understand and agree that:
a. Time of Essence. Time is of the essence of this agreement.
b. Waiver. It is not a modification of this agreement or a waiver of a
similar default if the Secured Party accepts a partial or delinquent
payment or fails to exercise a right or remedy.
C. Assignment. This agreement applies to and shall inure to the benefit of
the secured party's successors and assigns and binds the Borrower's
successors and assigns.
d. Multiple Parties. If more than one Borrower signs this agreement, it is
agreed that wherever "Borrower" appears in the agreement it means "each
Borrower" and that the breach by one Borrower may at the Secured Party's
option be treated as a breach by all Borrowers. The liability of each
Borrower is joint and several and the discharge by one Borrower or an
extension, forebearance, or acceptance, release or substitution of security
or impairment of the Secured Party's remedies or rights against one
Borrower does not affect the liability of any other Borrower. Each
Borrower waives the right to require the Secured Party to proceed against
one Borrower before any other, or to pursue any other remedy in the Secured
Party's power.
Security and Pledge Agreement 3
8. CROSS DEFAULTS OTHER LOAN DOCUMENTS. Borrower covenants.
This Security Agreement is given in connection with a loan made to the Borrower
by the Secured Party for the acquisition of or the continued use and occupancy
of a mobilehome and the related right to use the mobilehome park space and
related facilities of the mobilehome park occupied or to be occupied by
Borrower. This agreement is intended to give Secured Party an interest in all
personal property and all personal property rights of Borrower in and to such
mobilehome, the rights of occupancy in such mobilehome park and the right to
related mobilehome park facilities.
Contemporaneously with the execution of this agreement Borrower has executed a
note evidencing Borrowers indebtedness (the "Note"), and a Deed of Trust in
favor of Secured Party covering any collateral given by Borrower to Secured
Party which may be characterized as real property for purposes of California
law. Borrower agrees that any default in the performance of Borrower's
obligations under the Note and Deed of Trust shall constitute a default under
the terms of this agreement, entitling secured party to utilize any or all of
the remedies provided herein in the event of Borrower's default. Provided
however, that Secured party will not fully dispose of any property of Borrower
pledged pursuant to the provisions of paragraph (3) of this agreement until such
time as it shall have acquired Borrower's interest in and to the real property
secured by the Deed of Trust.
Rnrrnwer r `
B v:
Borrower
1 �- �l 1 6UP�2 �2 v
Property Address
Security and Pledge Agreement 4
RECORDING REQUESTED BY
Name
Street
Addre.
Stay rA State L
GUES, 'j % 'TJTI.C- GI 1A1RANTY CO
AND WHEN RECORDED MAIL TO
City of San Luis Obispo
990 Palm Street
P.O. Box 8100
San Luis Obispo, CA 93043-8100
JI
FREE RECORDING REQUESTED PURSUANT
TO GOVERNMENT CODE SECTION 27383'
DOC. NO. 76060
OFFICIAL RECORDS
SAN LUIS OBISPO CO:, CA
NOV 0 9 19s9
FRANCIS M. GOONEY
County Clerk -Recorder
TIME 8:00. AM
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Request for Notice
TO 422 C (9.67) UNDER SECTION 29246 CIVIL CODE
In accordance with Section 2924b, Civil Code, request is hereby made that a copy of any Notice of DCfatllt and a
copy of any Notice of Sale under the Deed of Trust recorded as Instrument No. RECORDING CON R R E N T L Y
-HEJ EW I TH in book , page , Official Records of
County, California, and describing land therein as described in Exhibit "A" attached hereto
and made a part hereof.
Executed by Lawrence Jeffrey Stabler as Trustor,
in which State of California, Department of Housing & Community Development is named as
Beneficiary, and _ Cuesta Title Guaranty Company_
as Trustee,
be mailed to C iY of San Luis Ob 1 S� — —,
at P.O. Box 8100 -- -- - --.`
Number and Street —
San Luis Obispo, CA 93403-8100 A _
City and State
Dated October" 30, 1989 _
STATE OF CALIFORNIA,
COUNTY OF San Diego Ss.
(),Oct - 31 1989 before me, the under-
signed, a Nat Public in and for said State, personally appeared
Carole AYams
Notice: A Copy of any notice of
default and of any notice of sale
will be sentonly to the address
contained in this recorded request.
If your address changes, a new re -
OFFICIAL SEAL
"s
BETTY RICHARf)1,C'N'
Notary Public -Cal fa'r,i
known to me SAN DIEUO COUNI Y
to be the person_ whose name I S subscribed to the within
She r.;r-
instrument and acknowledged that, executed the same. My Comm. Exp. Jan. 1, 1991
WITNESS my hand and official seal.
Signatur
BettyRic r on
alne (Typed or Printed)
I/ executed•by a Corporation the Corporation Form o/
AclrnotUlerlgntent must be used. (This area for o0lelal notarial seal)
Title Order No. Escrow or Loan No.
EXHIBIT A
LEGAL DESCRIPTION
A CONDOMINIUM UNIT COMPRISED OF:
PARCEL 1: AN UNDIVIDED 1/235TH INTEREST IN AND TO LOT 1, TRACT 1476, CHUMASH
VILLAGE MOBILE HOME PARK, CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO,
STATE OF CALIFORNIA, ACCORDING TO THE MAP THEREOF RECORDED JUNE 29, 1987 IN BOOK
13, PAGE 98 OF MAPS.
EXCEPTING THEREFROM THE FOLLOWING:
(A) UNITS 1 THROUGH 136, 138 THROUGH 143 AND 145 THROUGH 237, INCLUSIVE, AS SHOWN
AND DEFINED ON THAT CERTAIN CHUMASH VILLAGE CONDOMINIUM PLAN RECORDED NOVEMBER 16,
1987 AS INSTRUMENT NO. 80994 IN BOOK 3074, PAGE 83 OF OFFICIAL RECORDS,
(B) THE EXCLUSIVE RIGHT TO POSSESSION OF THOSE PORTIONS DESIGNATED AS EXCLUSIVE
USE AREAS ON THE ABOVE REFERENCED CONDOMINIUM PLAN.
PARCEL 2: UNIT NO PUCAS SHOWN AND DEFINED ON THE CONDOMINIUM PLAN REFERRED TO
ABOVE.
PARCEL 3: THE EXCLUSIVE RIGHT TO POSSESSION OF THOSE AREAS DESIGNATED AS
EXCLUSIVE USE AREAS ON THE CONDOMINIUM PLAN REFERRED TO ABOVE, AS APPURTENANT TO
PARCELS 1 AND 2 ABOVE DESCRIBED.
END OF DOCUMENT VOL 3 412 PAGE 440