HomeMy WebLinkAboutD-1440 1531 Santa Rosa Recorded 05/21/1996TITLE L=
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Order No.
Escrow No.
Loan No.
WHEN RECORDED MAIL TO:
Community Development Director
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401-324-9.
Doc No: 1996 - 025209 Rec No: 00098212
Official Records
San Luis Obispo Co.
Julie L. Rodewald
Recorder
May 21, 1996
Time: 11:31
[ 5]
RF 26.00
,TOTAL 26.00
SPACE ABOVE THIS LINE FOR
DEED OF TRUST WITH ASSIGNMENT OF RENTS
(LONG FORM)
This DEED OF TRUST, made this,. /10 day of between
AIDS SUPPORT .NETWORK, A California non - profit corporation herein called TRUSTOR,
whose address is 1204 Ni.pomo street San Luis Obispo California 93401
(Number and Street) (City) (State)
FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation,. herein called TRUSTEE, and
CITY OF SAN LUIS OBISPO,..a charter municipal corporation
herein. called BENEFICIARY,
WITNESSETH That Trustor grants to Trustee in Trust, with Power of Sale, that property. in the
County of San Luis Obispo , State of California, described as:
Portion of .Lots 16, 17 and 18, Block 172 of the Dalli.det Addition
to the City of San .Luis Obispo., in the Ci.ty and County of San Luis
Obispo, Cali,forni.a, more commonly known-as the Adri.ance Court Apart-
ments, located at'1062 Islay Street and 1.531 Santa Rosa Street, San
Luis Obispo., Calif .orni.a (Assessor's Parcel Number -003- 544 - 017).,
THIS DEED OF TRUST IS aNIOR IN LIEN TO DEEDS OF TRUST R9MING MUMaY HERE -WITH AND IS TO RETARD
IN THIRD POSITION.
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, for the purpose of securing (1) payment of the
sum of $ 206, 000.00 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, (2) the
performance of each agreement of Trustor incorporated by reference or contained herein and (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.
A. To protect the security of this Deed of Trust, Trustor 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 manner any 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
(continued on reverse side) l D 1193 4)
Page e 1 1 of of 4
v
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 Beneficiary 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 due, 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 this 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 Trustor 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
proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest
or compromise any encumbrance, 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 reasonable 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 anytime 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 affecting 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 performance 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 indebtedness 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 profits, including those past due and unpaid,
and apply the same, less costs and expenses of operation and collection, including reasonable attorney's fees, upon any
indebtedness secured hereby, and in such order as Beneficiary may determine. The entering upon and taking possession
of.said property, the collection of such rents, 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.
(continued on next page) 1193(1/94)
Page 2. of 4
4.
(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 required 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 parcels, 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 without any covenant or warranty, express or implied. The recitals
in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. 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 proceeds 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 to all 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 assigns. 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.
The undersigned Trustor requests that a copy of any notice of default and of any notice of sale hereunder be mailed to
him at his address hereinbefore set forth.
Signature of Trustor Signature of Trustor
AIDS SUPPORT NETWORK, non - profit Cali.forni.a Corporati.on
By:
By: %(
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STATE OF CALIFO }ss.
COUNTY OF / - }
On �' %!O / - 1(p � , before me,
personally appeared % ,W-A/
personally known to me (or 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 /th ' signature(s) on the instrume person(s), or the entity upon behalf off which the person(s) acted, executed the instrument.
WITN S my h and official seal N�7 ' ��' , - MARY GRDEN C
rn :. COMM #1053839
Signature p� Notary Public - California y
San Luis Obispo County N
My Comm. Exp. March 26,1999
(continued on reverse side) -1193 (1/94)
Page 3 of 4
. 1
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, together 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 held by you under the same.
Dated
Please mail Deed of Trust,
Note and Reconveyance to
Do not lose or destroy this Deed of Trust OR THE NOTE which it secures. Both must be delivered to the Trustee for
cancellation before reconveyance will be made.
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1193(1/94)
Page 4 of 4
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CERTIFICATE
This is to certify that the interest in real property conveyed by the DEED OF TRUST dated
1, from Aids Support Network to the City of San Luis
Obispo, a charter municipal corporation, is hereby accepted by the undersigned officer or agent on
behalf of the Council of the City of San Luis Obispo, pursuant to City Council Resolution Number
8190, adopted July 6th, 1993, and the grantee consents to recordation thereof by its duly
authorized officer.
CITY OF SAN LUIS OBISPO
Dated: G�-+d-11 . 3d t -I R
JOHN ITNN
City Ad nistrative Officer
STATE OF CALIFORNIA )
COUNTY OF SAN LUIS OBISPO )ss.
On April 30, 1996, before me, CINDY.:PILG, a Notary Public in and for
said County and State, personally appeared JOHN DUNN personally known
to me to be the person whose name is subscribed to the within
instrument and acknowledged to me that
he executed the same in his authorized
capacity, and that his signature on the
CINDY PILG instrument the person, or the entity upon
Commission # 1091M behalf of which the person acted, executed
ma Notary PubNc — CcMxrdo
San Luis Obspo County the instrument.
My Comm. Expires Mar 17, 2000
W I& ;W W — t
jh/L:asncert.wp
WITNESS my hand and official seal.
Signature
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EXHIBIT "A"
SLO- 912508 MG
That portion of Lots 16, 17 and 18 in Block 172 of Dallidet's Addition to the City of San-Luis
Obispo, in the City of San Luis Obispo, in the County of San Luis Obispo, State of California,
according to map filed for record August 23, 1876 of Maps, in the office of the County
Recorder of said County, described as follows: ,
Beginning at the Northwesterly corner of Islay and Santa Rosa Streets in the City, and running
thence North 36 °53' West along said Westerly line of Santa Rosa Street, 145 feet to the
Northerly line of said Lot 16; thence South 53 °07' West along said line, 103.5 feet to the
Easterly line of the lot conveyed by Clara Oliati, a widow and Ida Hanke, a single woman, to
Denis F. Patton, a married man, by deed dated June 25, 1929 and recorded in Book 70, page
51 of Official Records; thence South 36 °53' East along said line, 21.45 feet; thence North
53 °07' East, 7.2 feet; thence South 36 °53' East, 57.32 feet; thence South 53 °07' West, 4.85
feet; thence South 36 °53' East, 66.23 feet to the Northerly line of Islay Street; thence North
53 °07' East along said Northerly line of Islay Street, 101.15 feet to the point of beginning.
END OF DOCUMENT