HomeMy WebLinkAboutD-2182 Broad Street Place - County CDBG Deed of Trust and Security AgreementRECORDING REQUESTED BY
First American Title Company
AND WHEN RECORDED MAIL DOCUMENT TO:
Director of Planning and Building
County of San Luis Obispo
976 Osos Street, Room 300
San Luis Obispo, Ca 93408
A.P.N.: 053-231-048
"This document was electronically submitted
to San Luis Obispo County for recording"
2021018395
Tommy Gong
San Luis Obispo - County Clerk -Recorder
03/10/2021 02:12 PM
Recorded at the request of:
FIRST AMERICAN TITLE COMPANY
Titles:2 Pages:21
Fees: $0.00
Taxes: $0.00
Total: $0.00
Above This Line for Recorder's Use Only
File No.: 4009-6127807 (LB)
This document is recorded for the benefit
of the County of San Luis Obispo and is exempt
from recording fees pursuant to Sections 6103 and 27383
of the California Government Code.
COUNTY CDBG DEED OF TRUST AND
SECURITY AGREEMENT
SEPARATE PAGE PURSUANT TO GOUT CODE 27361.6
D-2182
RECORDING REQUESTED BY:
County of San Luis Obispo
WHEN RECORDED MAIL TO:
Director of Planning and Building
County of San Luis Obispo
976 Osos Street, Room 300
San Luis Obispo, CA 93408
APN: 053-231-048 (Space Above for Recorder's Use)
[Exempt from recording fee per Gov. Code § 27383]
COUNTY CDBG
DEED OF TRUST
AND SECURITY AGREEMENT
THIS County Community Development Block Grant DEED OF TRUST AND
SECURITY AGREEMENT ("CDBG Deed of Trust") is made and entered into on or
about February 20, 2021, among the Trustor, Broad Street Place, L.P. (the
"Subrecipient"), a California limited partnership whose General Partner, Broad Street
Place LLC, is wholly owned by People's Self -Help Housing Corporation ("PSHHC"), a
California nonprofit public benefit corporation, and whose mailing address is:
Broad Street Place, L.P.
c/o People's Self Help Housing Corporation
3533 Empleo Street
San Luis Obispo, California 93401
Attention: Ken Trigueiro, CEO
and First American Title Company (the "Trustee"), and the County of San Luis Obispo
(the "County"), a political subdivision of the State of California, as Beneficiary.
The Subrecipient, in consideration of the promises herein recited and the trust herein
created, irrevocably grants, transfers, conveys and assigns to the Trustee, in trust, with
power of sale, a fee ownership interest in that portion of the real property, currently
Broad Street Place Apts. — CDBG Deed of Trust— Page 1 of 16
owned by PSHHC, that is located at 3720 Broad Street, in the City of San Luis Obispo,
County of San Luis Obispo, California, Assessor's Parcel Number 053-231-048, and
that is described in Exhibit A (the "Property") that is to be developed with a forty (40)
unit affordable housing project (the "Project) further described in the following
documents executed by the Subrecipient and the County and of even date with this
CDBG Deed of Trust: 1) the CDBG Subrecipient Agreement, and 2) the CDBG
Regulatory Agreement and Restrictive Covenants;
TOGETHER with all the improvements now or hereafter erected on the Property,
and all easements, rights, appurtenances, and all fixtures now or hereafter attached to
the Property, all of which, including replacements and additions thereto, shall be
deemed to be and remain a part of the Property covered by this CDBG Deed of Trust;
TOGETHER with all articles of personal property or fixtures now or hereafter
attached to or used in and about the building or buildings now erected or hereafter to be
erected on the Property which are necessary to the complete and comfortable use and
occupancy of such building or buildings for the purposes for which they were or are to
be erected, including all other goods and chattels and personal property as are ever
used or furnished in operating a building, or the activities conducted therein, similar to
the one herein described and referred to, and all renewals or replacements thereof or
articles in substitution therefore, whether or not the same are, or shall be attached to
said building or buildings in any matter; and all of the foregoing, together with the
Property, is herein referred to as the "Security";
TO SECURE to the County the performance of the covenants and agreements of
the Subrecipient contained in that certain CDBG Subrecipient Agreement, and also that
certain CDBG Regulatory Agreement and Restrictive Covenants, both executed by and
between the Subrecipient and the County and dated the same date as this CDBG Deed
of Trust (the "Agreements");
Broad Street Place Apts. — CDBG Deed of Trust— Page 2 of 16
TO SECURE to the County the repayment of the sums evidenced by a
promissory note executed by the Subrecipient and the County and dated the same date
as this CDBG Deed of Trust, in the amount of Three -Hundred Thirty -Eight Thousand
Eight -Hundred Sixty -Four Dollars ($338,864.00) (the "CDBG Note"); and
TO SECURE the payment of all other sums, with interest thereon, advanced in
accordance herewith to protect the security of this CDBG Deed of Trust; and the
performance of the covenants and agreements of the Subrecipient herein contained.
SUBRECIPIENT COVENANTS AND AGREES AS FOLLOWS:
Subrecipient's Estate. That the Subrecipient is lawfully seized of the
estate hereby conveyed and has the right to grant and convey the Security, and that
other than this CDBG Deed of Trust the Security is encumbered only by: (1) that deed
of trust executed by the Subrecipient in connection with a loan made to Subrecipient by
Banc of America, or its successors and assigns, (the "First Lender"), executed by
Subrecipient in favor of First Lender (the "First Lender Deed of Trust"), securing a
promissory note executed by the Subrecipient in favor of the First Lender ("First Lender
Note"), to assist in the purchase and/or development of the Property; (2) that deed of
trust executed by the Subrecipient in connection with a loan made to Subrecipient by
the State of California's Veterans Housing and Homeless Prevention Program, or its
successors and assigns, (the "Second Lender"), executed by Subrecipient in favor of
Second Lender (the "Second Lender Deed of Trust"), securing a promissory note
executed by the Subrecipient in favor of the Second Lender ("Second Lender Note"), to
assist in the purchase and/or development of the Property; (3) that deed of trust
executed by the Subrecipient in connection with a loan made to Subrecipient by the City
of San Luis Obispo (the City In -Lieu Funds loan) or its successors and assigns, (the
"Third Lender"), executed by Subrecipient in favor of Third Lender (the "Third Lender
Deed of Trust"), securing a promissory note executed by the Subrecipient in favor of the
Third Lender ("Third Lender Note"), to assist in the purchase and/or development of the
Broad Street Place Apts. — CDBG Deed of Trust— Page 3 of 16
Property; (4) that deed of trust executed by the Subrecipient in connection with a loan
made to Subrecipient by the City of San Luis Obispo (the City Impact Fees loan) or its
successors and assigns, (the "Fourth Lender"), executed by Subrecipient in favor of
Fourth Lender (the "Fourth Lender Deed of Trust"), securing a promissory note
executed by the Subrecipient in favor of the Fourth Lender ("Fourth Lender Note"), to
assist in the purchase and/or development of the Property; and (5) the County CDBG
Loan Documents executed by the Subrecipient and the County concurrently with this
County CDBG Deed of Trust and secured by this County CDBG Deed of Trust; and in
each case such other amounts and/or such other lenders as approved by the County.
The above -described deeds of trust by and among the Subrecipient, the First Lender,
Second Lender, the Third Lender and the Fourth Lender are all being recorded
concurrently herewith. (As used in this County CDBG Deed of Trust, the terms "First
Lender," "Second Lender," "Third Lender" and "Fourth Lender" shall include all
successors and assigns of, respectively, the "First Lender," "Second Lender," "Third
Lender" and "Fourth Lender.")
Subrecipient agrees to warrant and defend generally the title to the Security 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 the County's
interest in the Security.
The Subrecipient agrees that the County's CDBG loan of $338,864 shall be
secured through the establishment of a lien in fifth position on the fee ownership title of
the said estate (the Property), and that the County's lien shall hold a position on the title
of the estate (the Property) immediately after the lien of the fourth Lender. The
Subrecipient agrees to take any and all actions necessary to secure, retain, and defend
the fifth position of the County's lien on the fee ownership title of the estate (the
Property) unless the County has agreed in writing to a different arrangement within the
chain of title and the County has issued its written consent to such a change prior to any
such change in title being initiated or put into effect.
Broad Street Place Apts. — CDBG Deed of Trust— Page 4 of 16
2. Repayment of Loan. The Subrecipient will promptly repay, if and when
due, the principal and interest required by the CDBG Note.
3. CDBG Subrecipient Agreement and CDBG Regulatory Agreement and
Restrictive Covenants. The Subrecipient will observe and perform all of the covenants
and agreements of the CDBG Subrecipient Agreement and also of the CDBG
Regulatory Agreement and Restrictive Covenants.
4. First Lender, Second Lender, Third Lender and Fourth Lender Loans. The
Subrecipient will observe and perform all of the covenants and agreements of the First
Lender, Second Lender, Third Lender and Fourth Lender Notes and the First Lender,
Second Lender, Third Lender and Fourth Lender Deeds of Trust.
5. Charges; Liens. The Subrecipient will pay all taxes, assessments and
other charges, fines and impositions attributable to the Security which may attain a
priority over this CDBG Deed of Trust, by the Subrecipient making any payment, when
due, directly to the payee thereof. The Subrecipient will promptly furnish to the County
all notices of amounts due under this paragraph except property tax notices. In the
event the Subrecipient makes payment directly, the Subrecipient will promptly discharge
any lien which has priority over this CDBG Deed of Trust; provided, that Subrecipient
will not be required to discharge the liens of the First Lender, Second Lender, Third
Lender or Fourth Lender Deeds of Trust or any other liens described in this paragraph
so long as the Subrecipient will agree in writing to the payment of the obligation secured
by such lien in a manner acceptable to the County, or will, in good faith, contest such
lien, or defend enforcement of such lien, in legal proceedings which operate to prevent
the enforcement of the lien or forfeiture of the Security or any part thereof.
6. Hazard Insurance. The Subrecipient will keep the Security insured by a
standard fire and extended coverage insurance policy in at least such amounts and for
Broad Street Place Apts. — CDBG Deed of Trust— Page 5 of 16
such periods as the County may require, which amounts shall be the lesser of (1) the
sum of the loan amounts under the combined total of the First Note, Second Note, Third
Note and Fourth Note and the County's CDBG Note, or (2) the replacement cost of the
Security, but in no event less than (3) the amount necessary to prevent the Subrecipient
from becoming a co-insurer under the terms of the policy.
The insurance carrier providing this insurance shall be licensed to do business in
the State of California and be chosen by the Subrecipient subject to approval by the
County.
All insurance policies and renewals thereof will be in a form acceptable to the
County and will include a standard mortgagee clause with standard lender's
endorsement in favor of the County and the holder(s) of the First Lender, Second
Lender, Third Lender and Fourth Lender Notes, as their interests may appear and in a
form acceptable to the County. The County shall have the right to hold, or cause its
designated agent to hold, the policies and renewals thereof, and the Subrecipient shall
promptly furnish to the County, or its designated agent, the original insurance policies or
certificates of insurance, all renewal notices and all receipts of paid premiums. In the
event of loss, the Subrecipient will give prompt notice to the insurance carrier and the
County or its designated agent. The County, or its designated agent, may make proof
of loss if not made promptly by the Subrecipient. The County shall receive thirty days
advance notice of cancellation of any insurance policies required under this section.
Unless the County and the Subrecipient otherwise agree in writing, insurance
proceeds, subject to the rights of the First Lender, Second Lender, Third Lender and
Fourth Lender will be applied to restoration or repair of the Security damaged, provided
such restoration or repair is economically feasible and the security of this CDBG Deed
of Trust is not thereby impaired. If such restoration or repair is not economically
feasible or if the Security of this CDBG Deed of Trust would be impaired, the insurance
proceeds will be used, subject to the rights of the First Lender, Second Lender, Third
Broad Street Place Apts. — CDBG Deed of Trust— Page 6 of 16
Lender and Fourth Lender, to repay the CDBG Note and all sums secured by this
CDBG Deed of Trust, with the excess, if any, paid to the Subrecipient. If the Security is
abandoned by the Subrecipient, or if the Subrecipient fails to respond to the County, or
its designated agent, within thirty (30) days from the date notice is mailed by either of
them to the Subrecipient that the insurance carrier offers to settle a claim for insurance
benefits, the County, or its designated agent, is authorized, subject to the rights of the
First Lender, Second Lender, Third Lender and Fourth Lender, to collect and apply the
insurance proceeds at the County's option either to restoration or repair of the Security
or to repay the CDBG Note and all sums secured by this CDBG Deed of Trust.
If the Security is acquired by the County, all right, title and interest of the
Subrecipient in and to any insurance policy and in and to the proceeds thereof resulting
from damage to the Security prior to the sale or acquisition will pass to the County to the
extent of the sums secured by this CDBG Deed of Trust immediately prior to such sale
or acquisition, subject to the rights of the First Lender, Second Lender, Third Lender
and Fourth Lender.
7. Preservation and Maintenance of Security. The Subrecipient will keep the
Security in good repair and will not commit waste or permit impairment or deterioration
of the Security.
8. Protection of the County's Security. If the Subrecipient fails to perform the
covenants and agreements contained in this CDBG Deed of Trust or if any action or
proceeding is commenced which materially affects the County's interest in the Security,
including, but not limited to, foreclosure proceedings under the First Lender, Second
Lender, Third Lender and/or Fourth Lender Deeds of Trust or any other deed of trust
encumbering the Property, eminent domain, insolvency, code enforcement, or
arrangements or proceedings involving a bankrupt or decedent, then the County, at the
County's option, upon reasonable notice to the Subrecipient, may make such
appearances, disburse such sums and take such action as it determines necessary to
Broad Street Place Apts. — CDBG Deed of Trust— Page 7 of 16
protect the County's interest, including but not limited to, disbursement of reasonable
attorney's fees and entry upon the Security to make repairs.
Any amounts disbursed by the County pursuant to this paragraph, with interest
thereon, will become an indebtedness of the Subrecipient secured by this CDBG Deed
of Trust. Unless Subrecipient and County agree in writing to other terms of payment,
such amount will be payable upon notice from the County to the Subrecipient 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 CDBG 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 the County to insure any expense or
take any action hereunder.
9. Inspection. The County may make or cause to be made reasonable
entries upon and inspections of the Security; provided that the County will give the
Subrecipient reasonable notice of inspection.
10. Forbearance by the County Not a Waiver. Any forbearance by the County
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 the County will not be a waiver of the County's right to accelerate the
maturity of the indebtedness secured by this CDBG Deed of Trust.
11. Remedies Cumulative. All remedies provided in this CDBG Deed of Trust
are distinct and cumulative to any other right or remedy under this CDBG Deed of Trust
or any other document, or afforded by law or equity, and may be exercised concurrently,
independently or successively.
Broad Street Place Apts. — CDBG Deed of Trust— Page 8 of 16
12. Successors and Assigns Bound. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to the respective successors
and assigns of the County and the Subrecipient subject to the provisions of this CDBG
Deed of Trust.
13. Joint and Several Liability. All covenants and agreements of the
Subrecipient shall be joint and several.
14. Notice. Except for any notice required under applicable law to be given in
another manner, (a) any notice to the Subrecipient provided for in this CDBG Deed of
Trust will be given by certified mail, addressed to Subrecipient at the addresses shown
in the first paragraph of this CDBG Deed of Trust or such other address as the
Subrecipient may designate by notice to the County as provided herein, and also to the
Subrecipient's limited partner at the address provided in the CDBG Note, and (b) any
notice to the County will be given by express delivery, return receipt requested, to the
County's designated agent;
Director of Planning and Building
County of San Luis Obispo
976 Osos Street, Room 300
San Luis Obispo, California 93408
Housing Section / CDBG Funds
or to such other address as the County may designate by notice to the Subrecipient as
provided above. Notice shall be effective as of the date received by the County as
shown on the return receipt.
15. Governing Law. This CDBG Deed of Trust shall be governed by the laws
of the State of California.
16. Severability. In the event that any provision or clause of this CDBG Deed
of Trust or the CDBG Note conflicts with applicable law, such conflict will not affect other
provisions of this CDBG Deed of Trust or the CDBG Note which can be given effect
Broad Street Place Apts. — CDBG Deed of Trust— Page 9 of 16
without the conflicting provision, and to this end the provisions of the CDBG Deed of
Trust and the CDBG Note are declared to be severable.
17. Captions. The captions and headings in this CDBG Deed of Trust are for
convenience only and are not to be used to interpret or define the provisions hereof.
18. Default; Remedies. Upon the Subrecipient's breach of any covenant or
agreement of the Subrecipient in this CDBG Deed of Trust including but not limited to
the covenants to pay, when due, any sums secured by this CDBG Deed of Trust, then
prior to acceleration the County will mail by certified mail with a return receipt requested,
a notice to the Subrecipient and such other parties as are shown in Section 14 (Notice)
above, specifying: (1) the breach; (2) the action required to cure such breach; (3) a
date, not less than thirty (30) days from the date the notice is received by the
Subrecipient as shown on the return receipt (or such longer period of time as permitted
under the CDBG Note), by which such breach is to be cured; and (4) that failure to cure
such breach on or before the date specified in the notice may result in acceleration of
the sums secured by this CDBG Deed of Trust and sale of the Security. The notice will
also inform the Subrecipient of the Subrecipient's right to reinstate after acceleration
and the right to bring a court action to assert the nonexistence of default or any other
defense of the Subrecipient to acceleration and sale. If the breach is not cured on or
before the date specified in the notice, or such longer period of time as permitted under
the CDBG Note, the County, at the County's option, may: (a) declare all of the sums
secured by this CDBG Deed of Trust to be immediately due and payable without further
demand and may invoke the power of sale and any other remedies permitted by
California law; (b) either in person or by agent, with or without bringing any action or
proceeding, or by a receiver appointed by a court, and without regard to the adequacy
of its security, enter upon the Security and take possession thereof (or any part thereof)
of any of the Security, in its own name or in the name of the Trustee, and do any acts
which it deems necessary or desirable to preserve the value or marketability of the
Security, or part thereof or interest therein, in order to increase the income therefrom or
Broad Street Place Apts. — CDBG Deed of Trust— Page 10 of 16
protect the security thereof (the entering upon and taking possession of the Security
shall not cure or waive any breach hereunder or invalidate any act done in response to
such breach and, notwithstanding the continuance in possession of the Security, the
County shall be entitled to exercise every right provided for in this CDBG Deed of Trust,
or by law upon occurrence of any uncured breach, including the right to exercise the
power of sale); (c) commence an action to foreclose this CDBG Deed of Trust as a
mortgage, appoint a receiver, or specifically enforce any of the covenants hereof; (d)
deliver to Trustee a written declaration of default and demand for sale, pursuant to the
provisions for notice of sale found at California Civil Code Sections 2924, et seq., as
amended from time to time; or (e) exercise all other rights and remedies provided
herein, in the instruments by which the Subrecipient acquires title to any Security, or in
any other document or agreement now or hereafter evidencing, creating or securing all
or any portion of the obligations secured hereby, or provided by law. A cure by the
Subrecipient, the Subrecipient's General Partner or limited partners or by an affiliated
nonprofit organization approved by the County will be deemed a cure by the
Subrecipient.
The County shall be entitled to collect all reasonable costs and expenses
incurred in pursuing the remedies provided in this paragraph, including, but not limited
to, reasonable attorney's fees.
19. Acceleration. Upon the occurrence of a default under this CDBG Deed of
Trust, the CDBG Subrecipient Agreement, the CDBG Regulatory Agreement and
Restrictive Covenants and/or the CDBG Note (subject to any applicable notice and cure
periods provided therein), the County shall have the right to declare the full amount of
the principal along with any interest under the CDBG Note immediately due and
payable. Any failure by the County to pursue its legal and equitable remedies upon
default shall not constitute a waiver of the County's right to declare a default and
exercise all of its rights under this CDBG Deed of Trust, the CDBG Note, the CDBG
Subrecipient Agreement, and the CDBG Regulatory Agreement and Restrictive
Broad Street Place Apts. — CDBG Deed of Trust— Page 11 of 16
Covenants. Nor shall acceptance by the County of any payment provided for in the
CDBG Note constitute a waiver of the County's right to require prompt payment of any
remaining principal and interest owed on the CDBG Note.
20. Subrecipient's Right to Reinstate. Notwithstanding the County's
acceleration of the sums secured by this CDBG Deed of Trust, the Subrecipient will
have the right to have any proceedings begun by the County to enforce this CDBG
Deed of Trust discontinued at any time prior to five (5) business days before sale of the
Security pursuant to the power of sale contained in this CDBG Deed of Trust or at any
time prior to entry of a judgment enforcing this CDBG Deed of Trust if all of the following
occurs: (a) the Subrecipient pays the County all -sums which would be then due under
this CDBG Deed of Trust as if no acceleration under the CDBG Note has occurred; (b)
the Subrecipient cures all breaches of any other covenants or agreements of
Subrecipient contained in this CDBG Deed of Trust to the satisfaction of the County; (c)
the Subrecipient pays all reasonable expenses incurred by the County and Trustee in
enforcing the covenants and agreements of the Subrecipient contained in this CDBG
Deed of Trust, and in enforcing the County's and Trustee's remedies, including, but not
limited to, reasonable attorney's fees; and (d) the Subrecipient takes such action as the
County may reasonably require to assure that the lien of this CDBG Deed of Trust, the
County's interest in the Security and the Subrecipient's obligation to pay the sums
secured by this CDBG Deed of Trust shall continue unimpaired. Upon such payment
and cure by the Subrecipient, this CDBG Deed of Trust and the obligations secured
hereby will remain in full force and effect as if no acceleration had occurred and as if no
default had occurred.
21. Reconveyance. Upon payment of all sums secured by this CDBG Deed of
Trust, the County will request the Trustee to reconvey the Security and will surrender
this CDBG Deed of Trust and the CDBG Note to the Trustee. The Trustee will reconvey
the Security 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.
Broad Street Place Apts. — CDBG Deed of Trust— Page 12 of 16
22. Substitute Trustee. The County, at the County's option, may from time to
time remove the Trustee and appoint a successor trustee to any Trustee appointed
hereunder. The successor trustee will succeed to all the title, power and duties
conferred upon the Trustee herein and by applicable law.
23. Superiority of First Lender, Second Lender, Third Lender and Fourth
Lender Documents Recording Concurrently Herewith. Notwithstanding any other
provision hereof, the provisions of this CDBG Deed of Trust shall be subordinate to the
lien of the First Lender, Second Lender, Third Lender and Fourth Lender Deeds of Trust
and Regulatory Agreements (as applicable). Nothing contained in this CDBG Deed of
Trust shall impair the rights of the First Lender, Second Lender, Third Lender or Fourth
Lender, or its/their assignee(s) or successor(s) in interest, to exercise its/their remedies
under the First Lender, Second Lender, Third Lender and Fourth Lender Deeds of Trust
in the event of default under the First Lender, Second Lender, Third Lender or Fourth
Lender Deed(s) of Trust by the Subrecipient. Such remedies under the First Lender,
Second Lender, Third Lender and Fourth Lender Deeds of Trust include the right of
foreclosure or acceptance of a deed or assignment in lieu of foreclosure. After such
foreclosure or acceptance of a deed in lieu of foreclosure, this CDBG Deed of Trust
shall be forever terminated and shall have no further effect as to the Property or any
transferee thereafter; provided, however, if the holder of such First Lender, Second
Lender, Third Lender and/or Fourth Lender Deed of Trust acquired title to the Property
pursuant to a deed or assignment in lieu of foreclosure, this CDBG Deed of Trust shall
automatically terminate upon such acquisition of title, provided that (i) the County has
been given a 30-day written notice of default under such First Lender, Second Lender,
Third Lender and/or Fourth Lender Deed of Trust and (ii) the County shall not have
cured or commenced to cure the default within such 30-day period and given its firm
commitment to complete the cure in the form and substance acceptable to the First
Lender, Second Lender, Third Lender and/or Fourth Lender. The Trustor agrees to
record any necessary documents to affect such termination, if applicable.
Broad Street Place Apts. — CDBG Deed of Trust— Page 13 of 16
24. Request for Notice. The County and the Subrecipient request that copies of
any notice of default and/or notice of sale be sent to the County at the address set forth
in Section 14 (Notice) above. This notice request applies to any notice of sale that is
issued by the First Lender, Second Lender, Third Lender and/or Fourth Lender or by
their successors in interest relating to the Property and/or the development on the
Property.
(Signature blocks appear on the following pages.)
Broad Street Place Apts. — CDBG Deed of Trust— Page 14 of 16
This CDBG Deed of Trust may be executed in counterparts and shall be fully
effective as if signed by all parties whether or not the signatures of all the parties appear
on the original or on any one copy of this CDBG Deed of Trust.
IN WITNESS WHEREOF, the parties hereto have executed this CDBG Deed of Trust
as of the day and year first above written.
SUBRECIPIENT:
Broad Street Place, L.P.
a California limited partnership
By: Broad Street Place LLC
a California limited liability company
Its: General Partner
By: People's Self -Help Housing Corporation
a California nonprofit public benefit corporation
Its: so member and manager
Ken Triguei
Chief Executive Officer and President
Morgen Ben vedo
Executive Vice President
(**signatures must be notarized)
,2, �# /�� 2--I_
Date
Date
Broad Street Place Apts. — CDBG Deed of Trust— Page 15 of 16
COUNTY OF SAN LUIS OBISPO
Tre r Keith, D r
Department of Planning and Building
(*signature must be notarized)
APPROVED AS TO LEGAL FORM AND EFFECT:
RITA L. NEAL
County Counsel
By: Deputy C ty Counsel
Dated: March 4, 2021
® 1
Date
Broad Street Place Apts. — CDBG Deed of Trust— Page 16 of 16
EXHIBIT "A"
LEGAL DESCRIPTION
A.P.N.: 053-231-048
Real property in the City of San Luis Obispo, County of San Luis Obispo, State of California, described as
follows:
PARCEL A:
PARCEL 3 OF PARCEL MAP SLO 13-0003, IN THE CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS
OBISPO, STATE OF CALIFORNIA, ACCORDING TO MAP RECORDED JANUARY 31, 2014 IN BOOK 77 OF
PARCEL MAPS AT PAGES 16 AND 17.
PARCEL B:
A 40 FOOT PRIVATE ACCESS AND UTILITY EASEMENT OVER PARCEL 2 OF PARCEL MAP SLO 13-0003,
IN THE CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA,
ACCORDING TO MAP RECORDED JANUARY 31, 2014 IN BOOK 77 OF PARCEL MAPS AT PAGES 16 AND
17.
Broad Street Place Apts. — CDBG Deed of Trust— Page 17 of 17
ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the identity of the
individual who signed the document to which this certificate is attached, and not the
truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA
ss.
COUNTY OF SAN LUIS OBISPO
On #AAA 9 20 V , before me, Lk _,a Notary Public,
in and for the State rof California, personally appeared k
1 Ltd 1 f? 0 i� nl ®1/ who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and
that by his/her/their signature(s) on the instrument the person(s) or the entity upon behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
LyAP—ND
liforiacRCanNotarubiiZ
< San Luis Obispo County >_
Commission M 2210707
My Comm. Expires Sep 15,,2021
Signature
Signature of Notary Public
ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the identity of the
individual who signed the document to which this certificate is attached, and not the
truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA
ss.
COUNTY OF SAN LUIS OBISPO
On M A . 4 1202(, before me, 1 , a Notary Public,
in and for the State of California, personally appeared
satisfactory evidence to be the persons) whose name(sk
acknow ed ed to me tha he/ a/they executed the same
that b his/ er/their signs re(s) on the instrument the pei
person(s) acted, executed the instrument.
who proved to me on the basis of
subscribed to the within instrument and
/ er/their authorized capacity(ies), and
or the entity upon behalf of which the
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
o ANN C, WEBB Signature
Notary Pubtit - California I
San Luis Obispo County ; Signature of Notary Public
Commission # 2285035
My Comm. Expires May 9, 2023
CERTIFICATE
This is to certify that the interest in real property conveyed by this County CDBG Deed
of Trust and Security Agreement dated on or about February 20, 2021, from Broad
Street Place, L.P., a California limited partnership, to the County of San Luis Obispo, a
political subdivision of the State of California, is hereby accepted by the undersigned
officer or agent on behalf of the Board of Supervisors of the County of San Luis Obispo
pursuant to the authority conferred by Board of Supervisors' Resolution No. 2020-116
adopted May 5, 2020, and the grantee consents to recordation thereof by its duly
authorized officer.
.11
COUN7Y OF SAN LU OB PO
Trev Keith, Directo
Department of Planning and Building
1
Dated:
ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy,
or validity of that document.
STATE OF CALIFORNIA
ss.
COUNTY OF SAN LUIS OBISPO
On G , 20 1, before me, , a Notary Public, in and
for the State of California, personally appeared l who proved
to me on the basis of satisfactory evidence to be the person(s) whose name( is re subscribed to the
within instrument and acknowledged to me tha he he/they executed the same i hi her/their authorized
capacity(ies), and that by his er/their signature(s) on the instrument the person(s) or the entity upon
behalf of which the person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal. V"
e,
.� Signature
ANN C. WEBB Signature of Nota Public
Notary public - California I
z i
- San Luis Obispo County
Commission z 2285035
My Comm. Expires May 9, 20Z3