HomeMy WebLinkAboutD-1286 Tract 1459 Recorded 12/10/1987I!rder No. 8483026E
Escrow No. RE -CM0 MG RECUESTED BY
Loan No.
FIRST NZERICAN TITLE INSURANCE CO.
WHEN RECORDED MAIL TO:
City of San Luis Obispo
990 Palm
San Luis Obispo, CA 93406
12/10/77E13S 3 7i01 FAFL
DOCAD 85442
OFM AL RECORDS
SAN LUIS 081SPO CO., CA
DEC 1 01987
FRANCIS M. COONEY
OOUntY Cleric- Recorder
TIME 8:00 AM
SPACE ABOVE THIS LINE-FOR_ RECORDER'S USE
DEED OF TRUST WITH ASSIGNMENT OF RENTS
(SHORT FORM)
This DEED OF TRUST, made 30 October , 1987: Ween
SUSAN SCHRINER, an unmarried woman as to an undivided 1/ -2 interest and DONALD HALVOR�Z
an unmarried man as to an undivided 1/4 interest and CHARLES CROTSER, a married man as
his sole and separate property as to an undivided 1 /4 interest herein called TRUSTOR,
whose address is 1749 San 1_ui s Drive, San Luis Obispo, CA 93401
(Number and Street) (City) (State)
FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation, herein called TRUSTEE, and
a
ee
0
U
c
THE CITY OF SAN LUIS OBISPO
herein called BENEFICIARY,
WITNESSETH: That Trustor grants to Trustee in Trust, with Power of Sale, that property in the City of San Luis
Obispo, County of San Luis Obi Sp0 , State of California, described as:
Lot 6 of Tract 1459 in the City of San Luis Obispo County of San Luis Obispo,
State of California, as shown on a map recorded V, oc a,�(o ItI'7i n Book
��(.. Page of Maps in the office of the County Recorder of said
County.
Together with the rents, issues and profits thereof, subject, however, to the right, power and authority hereinafter given to and conferred upon Beneficiary to
collect and apply such rents, issues and profits. �} 670 For the Purpose of Securing (1) payment of the sum of $ �l// 00 with interest thereon according to the terms of a promissory note or
notes of even date herewith made by Trustor, payable to order of Beneficiary, and extensions or renewals thereof, and (2) the performance of each
agreement of Trustor incorporated by reference or contained herein (3) Payment of additional sums and interest thereon which may hereafter be loaned to
Trustor, or his successors or assigns, when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust. ,
To protect the security of this ,Deed of Trust, and with respect to the property above described, Trustor expressly makes each and all of the agreements, .
and adopts and agrees to perform and be bound by each and all of the terms and provisions set forth in subdivision A, and it is mutually agreed that each
and all of the terms and provisions set forth in subdivision B of the fictitious deed of trust recorded in Orange County August 17, 1964, and in all other
counties August 18, 1964, in the book and at the page of Official Records in the office of the county recorder of the county where said property is located,
noted below opposite the name of such county, namely:
COUNTY
BOOK PAGE
COUNTY
BOOK
PAGE
COUNTY
BOOK
PAGE
COUNTY
BOOK
PAGE
Alameda
1288 556
Kings
858
.713
Placer
1028
379
Sierra
38
187
Alpine
3 130 -31
Lake
437
110
Plumas
166
1307
Siskiyou
506
762
.
_ 13.3___438__.
.Lassen_
192 _
.367
__-Riverside._-
3778_..--347
- -- Solano -
-- 1287--
-621 -
_Amador
Butte
1330 513 '
Los Angeles
T -3878
874
Sacramento
5039
124
Sonoma
2067
427
Calaveras
185 338
Madera
911
136
San Benito
300
40S
Stanislaus
1970
56
Colusa
323 391
Marin
1849
122
San Bernardino
6213
768
Sutter
'655
585
Contra Costa
4684 1
Mariposa
90
453
San Francisco
A -804
596
Tehama
457
183
Del Norte
101 549
Mendocino
667
99
San Joaquin
2855
283
Trinity
108
595
El Dorado
704 635
Merced
1660
753
San Luis Obispo
1311
137
Tulare
2530
108
Fresno
5052 623
Modoc
191
93
San Mateo
4778
175
Tuolumne
177
160
Glenn
469 76
Mono
69
302
Santa Barbara
2065
881
Ventura
2607
237
Humboldt
801 83
Monterey
357
239
Santa Clara
6626
664
Yolo
769
16
Imperial
1189 701
Napa
704
742
Santa Crux
1638
607
Yuba
398
693
Inyo
165 672
Nevada
363
94
Shasta
800
633
Kern
3756 690
Orange
7182
18
San Diego SERIES
5 Book
1964, Page 149774
shall inure to and
bind the parties hereto, with respect to
the property
above
described. Said agreements, terms
and provisions contained in said subdivision
``- --f-B,_ identical in all counties, and printed on the reverse
side hereof)
are by the within reference
thereto, incorporated
herein and made
a part of this
Deed
as fully as
if set forth at length
herein, and
Beneficiary may charge for a statement
regarding
the
obligation secured hereby, provided
STATE OF
t e_ maximum allowed by law.
..
COUNTY
Cq LIF
C ORNtq
of default and any notice of sale hereunder be mailed to him
at his address
hereinbefore set
forth.
Sign
On o
_ �LZLVi
�r J t
s Stag \.kj _I��_`� Iss.
id _.)
Personal/ appeared
C �.be)o;e me, the un
�l l �,,, dersigned, a N
��lJ(� otary Public in and for
.rte onatty known
ow to me (or prov
factory evidence) to be th
ed to me on the basis
scribed to the a persons) whose of satis-
within Instrum namels) is /are
he /she /theY executed the sarynt and acknowledged t sub-
a_stara ear
a�` UvNe L.
Tn,R Y P BL Ufi r
SAN LUIS UBLIc
My Cmmiss, �LIFQIq OU&ITY
Ex �Y
es on
Oct. S. tg90
(This aroma
Trustor
THO , RN BY
AT-191
011111t (COUNTY a/
,LIFOHNMA (p
fee on be. 5, 1990
1158 (6182)
ial notarial seal)
DO NOT RECORD
Tip following is a copy of Subdivisions A and a fictitious Deed of Trust recorded in each county in is as stated in the foregoing Deed of Trust and in-
corporated by reference in said Deed of Trust as be part thereof as if set forth at length therein.
A. To protect the security of this Deed of Trust, Truster agrees:
(1) To keep said property in good condition and repair; not to remove or demolish any building thereon; to complete or restore promptly and in good and
workmanlike mannerany building which may be constructed, damaged or destroyed thereon and to pay when due all claims for labor performed and materials furnished
therefor; to comply with all laws affecting said property or requiring any alterations or improvements to be made thereon; not to commit or permit waste thereof; not
to commit, suffer or permit any act upon said property in violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character
or use of said property may be reasonably necessary, the specific enumerations herein not excluding the general.
(2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary. The amount collected under any fire
or other insurance policy may be applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine, or at option of Bene-
ficiary the entire amount so collected or any part thereof may be released to Trustor. Such application or release shall not cure or waive any default or notice of default
hereunder or invalidate any act done pursuant to such notice.
(3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; and to pay all
costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may
appear, and in any suit brought by Beneficiary to foreclose this Deed.
(4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including assessments on appurtenant water stock; when
le, all encumbrances, charges and liens, with interest, on said property or any part thereof, which appear to be prior or superior hereto; all costs, fees and expenses of
is Trust.
Should Trustor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but without obligation so to do and without notice to
or demand upon Trustor and without releasing Truster from any obligation hereof, may: make or do the same in such manner and to such extent as either may deem
necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter. upon -said property- for_such.purposes ;- appear_in and.defend.any action or pro-
ceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any incumbrance, charge or lien
which in the judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay necessary expenses, employ counsel and pay his reason-
able fees.
(5) To pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest from date of expenditure at the amount allowed
by law in effect at the date hereof, and to pay for any statement provided for by-law in effect at the date hereof regarding the obligation secured hereby any amount,
demanded by the Beneficiary not to exceed the maximum allowed by law at the time when said statement is demanded.
B. It is mutually agreed:
(1) That any award of damages in connection with any condemnation for public use of or injury to said property or any part thereof is hereby assigned and
shall be paid to Beneficiary who may apply or release such moneys received by him in the same manner and with the same effect as above provided for disposition of
proceeds of fire or other insurance.
(2) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right either to require prompt payment when due
of all other sums so secured or to declare default for failure so to pay.
(3) That at any time or from time to time, without liability therefor and without notice, upon written request of Beneficiary and presentation of this Deed
and said note for endorsement, and without effecting the personal liability of any person for payment of the indebtedness secured hereby, Trustee may: reconvey any
part of said property; consent to the making of any map or plat thereof; join in granting any easement thereon; or join in any extension agreement or any agreement
subordinating the lien or charge hereof.
(4) That upon written request of beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed and said note to Trustee
for cancellation and retention or other disposition as Trustee in its sole discretion may choose and upon payment of its fees, Trustee shall reconvey, without warranty,
the property then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The Grantee in such
reconveyance may be described as "the person or persons legally entitled thereto."
(5) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and authority, during the continuance of these Trusts,
to collect the rents, issues and profits of said property, reserving unto Trustor the right, prior to any default by Trustor in payment of any indebtedness secured hereby
or in ; irfdrrnance of any agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any such default, Beneficiary
may at any time without notice, either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the.in-
debtedness hereby secured, enter upon and take possession of said property or any part thereof, in his own name sue for or otherwise collect such rents, issues, and prof-
its, including those pastdue and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney's fees, upon any indebted-
ness secured hereby, and in such order as Beneficiary may determine. The entering upon and taking possession of said property, the collection of such Tents, issues and
profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice.
(6) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, Beneficiary may declare
all sums secured hereby. immediately due and payable by delivery to Trustee of written declaration of default and demand for sale and of written notice of default and
of election to cause to be sold said property, which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee this Deed, said note and
all documents evidencing expenditures secured hereby.
After the lapse of such time as may then be required by law following the recordation of said notice of default, and notice of sale having been given as then re-
quired by law, Trustee, without demand on Trustor, shall sell said property at the time and place fixed by it in said notice of sale, either as a whole or in separate par-
cels, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States, payable at time of sale. Trustee may
postpone sale of all or any portion of said property by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale
by public announcement at the time fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed conveying the property so sold, but with-
out any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person,
including Trustor, Trustee, or Beneficiary as hereinafter defined, may purchase at such sale.
After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title in connection with sale, Trustee shall apply the pro-
ceeds of sale to payment of: all sums expended under the terms hereof, not then repaid, with accrued interest at the amount allowed by law in effect at the date hereof;
all other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto.
(7) Beneficiary, or any successor in ownership of any indebtedness secured hereby, may from time to time, by instrument in writing, substitute a successor
or successors to any Trustee named herein or acting hereunder, which instrument, executed by the Beneficiary and duly acknowledged and recorded in the office of
the recorder of the county or counties where said property is situated, shall be conclusive proof of proper substitution of such successor Trustee or Trustees, who shall,
without conveyance from the Trustee predecessor, succeed toall its title, estate, rights, powers and duties. Said instrument must contain the name of the original Trustor,
Trustee and Beneficiary hereunder, the book and page where this Deed is recorded and the name and address of the new Trustee.
(8) That this Deed applies to, inures to the benefit of, and binds all parties hereto, their heirs, legatees, devisees, administrators, executors, successors and as-
signs. The term Beneficiary shall mean the owner and holder, including pledgees, of the note secured hereby, whether or not named as Beneficiary herein. In this Deed,
whenever the context so requires, the masculine gender includes the feminine and /or neuter, and the singular number includes the plural.
(9) That Trustee accepts this Trust when this Deed, duly executed and acknowledged, is made a public record as provided by law. Trustee is not obligated to
notify any party hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party unless
brought by Trustee.
DO NOT RECORD REQUEST FOR FULL RECONVEYANCE
TO FIRST AMERICAN TITLE INSURANCE COMPANY, TRUSTEE:
The undersigned is the legal owner and holder of the note or notes, and of all other indebtedness secured by the foregoing Deed of Trust. Said note or notes, to-
gether with all other indebtedness secured by said Deed of Trust, have been fully paid and satisfied; and you are hereby requested and directed, on payment to you of
any sums owing to you under the terms of said Deed of Trust, to cancel said note or notes above mentioned, and all other evidences of indebtedness secured by said
Deed of Trust delivered to you herewith, together with the said Deed of Trust, and to reconvey, without warranty, to the parties designated by the terms of said Deed
of Trust, all the estate now � %alr1 by vnu under the same.
Dated July 2
Please mail Deed of Trust,
Note and Reconveyance to
Do not lose or destroy this Deed of Tntst OR THE NOTE which it secures Both must be delivered to the Trustee for cancellation before reconvevance will be made.
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