HomeMy WebLinkAboutD-1490 345 High Street/2047 Price Street 003-731-006 Recorded 05/18/1999RECORDING REQUESTED
✓,CHICAGO TITLE COM. .4Y
• AND WHEN RECORDED MAIL TO
FARNOLD JONAS, DIRECTOR
COMMUNITY DEVELOPMENT
CITY OF SAN LUIS OBISPO
990 PALM STREET
SAN LUIS OBISPO, CA 93401 -3249
Doc No: 1999 - 035608
Official Records
San Luis Obispo Co
Julie L. Rodewald
Recorder
May 18, 1999
Time: 08:00
Rpt NO: 00044367
NF —1 0.00
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Escrow No. 249677 -PBG
Order No 249677 - &MS SPACE ABOVE THIS LINE FOR RECORDER'S USE
Assessor's Parcel No:
003 - 731 -006
DEED OF TRUST WITH ASSIGNMENT OF RENTS AS ADDITIONAL SECURITY
This DEED OF TRUST, made this 11TH day of May , 1999 between
AIDS SUPPORT NETWORK, A California non - profit corporation
herein called TRUSTOR, whose address is P.O. BOX 12158, SAN LUIS OBISPO, CALIFORNIA 93406
CHICAGO TITLE COMPANY, a California Corporation
CITY OF SAN LUIS OBISPO
herein called TRUSTEE, and
herein called BENEFICIARY, Trustor irrevocably grants, transfers and assigns to Trustee in Trust, with Power of Sale
that property in the City of SAN LUIS OBISPO County of San Luis Obispo
California, described as:
Lot 1 in Block 2 of the Southside Addition to the City of San Luis Obispo, in the City
of San Luis Obispo, County of San Luis Obispo, State of California, according to map
filed for record December 17, 1891 in Book B at page 36 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.
For the Purpose of Securing (1) payment of the sum of $103 , 474.00 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 or reciting it is so secured; (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.
DT2PG1-- 11/18/94bk Page 1
'DI'490
Escrow No: 249677
PBG
Assessor's Parcel
No: 003 - 731 -006
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 of that
certain
Fictitious Deed
of Trust referenced
herein, and it is
mutually
agreed that
all of the provisions set forth in
subdivision B of that certain
Fictitious
Deed of Trust recorded in
the book
and 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
Plums
166
1307
Siskiyou
506
762
Amador
133
438
Lassen
192
367
Riverside
3778
347
Solano
1287
621
Butte
1330
513
Los Angeles
T -3878
874
Sacramento 71
-10 -26
615
Sonoma
2067
427
Calaveras
185
338
Madera
911
136
San Benito
300
405
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
E1 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 Cruz
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
subdivisions A and B. (identical in all counties) are printed on the fallowing pages hereof, and are by the within reference thereto, incorporated
herein and made a part of this Deed of Trust for all purposes as fully as if set forth at length herein, and Beneficiary may charge for a statement
regarding the obligation secured hereby, provided the charge thereof does not exceed the maximum allowed by laws.
The undersigned Trustor, requests that a copy of any notice of default and any notice of sale hereunder be mailed to him at his address
hereinbefore set forth.
STATE OF CALIFORNIA
COUNTY YOOFy o9,!gZl f laZ _ } S. S.
On before me,
a Notary Pubic in and for said County 9nd State, personally appeared
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 /their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.
WITNESS my hand and official seal.
NOTARY'S SIGNATURE
DT2PG2- 08/08/94bk Page 2
AIDS SUPPORT NETWORK, a Non - Profit
oration
DEAN, /VICE/PRESIDENT
STEPHEN LAMB, PRESIDENT
�00 P. B. GIOVANNELLI^
au
COMM. #1197990
a NOTARY PUBLIC - CALIFORNIAv
SAN LUIS OBISPO COUNTY
°+
IF a My Comm. Expire; OCT 9, 2002
-av�p+:r4,P
(THIS AREA FOR OFFICIAL NOTARIAL SEAL OR STAMP)
NOTARY ACKNOWLEDGEMENT
STATE OF CALIFORNIA )
COUNTY OF SAN LUIS OBISPO)
On MAY 17, 1999, 1999 before me, the undersigned, a Notary Public in and for
said State, personally appeared
STEPHEN LAMB
personally known to me (or proved to me on the basis of satisfactory evidence)
to be the person(s) whose name(s) is subscribed to the within instrument and
acknowledged to me that he executed the same in his authorized capacity(ies),
and that by his signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
° PBGIOVANNELLI
aEx COMM. #1197990
NOTARY PUBLIC -CALIFORNIA v
\ SAN LUIS OBISPO COUNTY
ARY COMM. Expires OCT. 9, 2002
END OF DOCUMENT
Escrow No: 249677 PBG Assessor's Parcel No: 003 -731 -006
Niels 0 c• 7 � r: A 210101 : N .01
The following is a copy of Subdivisions A and B of the fictitious Deed of Trust recorded in each county in California as stated in the foregoing Deed
of Trust and incorporated by reference in said Deed of Trust as being a part thereof as if set forth at length therein.
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 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 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 judgement of either appears to be
prior or superior hereto; and, in exercising any such powers, pay necessary expenses, employ counsel and pay his or her 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 or her in the same manner and with the same
effect as above provided for regarding 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 or her 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 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 or her 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.
DT2PG3- 08/08/94bk
Page 3
Escrow No: 249677 PBG Assessor's Parcel No: 003 - 731 -006
(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 the neuter, and
the singular number includes the plural.
(9) The 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 parry unless brought by Trustee.
DO NOT RECORD REQUEST FOR FULL RECONVEYANCE
TO CHICAGO TITLE COMPANY
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 evidence 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 Reconveyanceto
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.
❑- PPG4- 0A 1nA /94hk
Panes G
CAGO TITL . COMPANY
212 Marsh Street; P.O. Box 810, San Luis Obispo, CA 93406
Phot�e: 805 -543 -2900 Fax: (805) 541 -2549; or 543 -2539
Jeff Hook
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
DATE June 10, 1999
REGARDING: AIDS SUPPORT NETWORK
ORDER NO. 000249677 - KMS
In accordance with instructions in the above order number, we enclose herewith our Policy of
Title Insurance.
Any documents recorded in connection with this transaction will be forwarded to you direct
from the County Recorder's office.
Should you have any questions, please contact the undersigned.
It has been our pleasure to have handled this transaction for you. If, at any time in the future
we can assist you, we will be pleased to have you request CHICAGO TITLE COMPANY.
We appreciate your business.
Sincerely,
CHICAGO TITLE COMPANY
KYLE SMITH
RECEIVED
JUN 11 1999
DIPOLENC- 07/93bk
CITY OF SAN LUIS OBISPO
COMMUNITY DEVELOPMENT
� nicago�c-aoaui-azwq
CALIFORNIA LAND TITLE ASSOCIATION
STANDARD COVERAGE POLICY 1990
ti
CHICAGO TITLE INSURANCE COMPANY
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE
CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, CHICAGO TITLE
INSURANCE COMPANY, a Missouri corporation, herein called the Company, insures, as of Date of Policy shown
in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or
incurred by the insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as stated therein;
sj
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
r.
4. Lack of a right of access to and from the land;
and in addition, as to an insured lender only:
5. The invalidity or unenforceability of the lien of the insured mortgage upon the title;
44
6. The priority of any lien or encumbrance over the lien of the insured mortgage, said mortgage being
shown in Schedule B in the order of its priority;
Y.
7. The invalidity or unenforceability of any assignment of the insured mortgage, provided the assignment
is shown in Schedule B, or the failure of the assignment shown in Schedule B to vest title to the insured
mortgage in the named insured assignee free and clear of all liens.
The Company will also pay the costs, attorneys fees and expenses incurred in defense of the title or the lien of the
insured mortgage, as insured, but only to the extent provided in the Conditions and Stipulations.
In Witness Whereof. CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as
of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory.
V
Issued by:
CHICAGO TITLE COMPANY
1212 Marsh Street CHICAGO TITLE INSURANCE COMPANY
San Luis Obispo, CA. 93401 By:
c,
(805) 543 - 2900
01"
Of
President
SEAL BY:
Secretary
EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees
or expenses which arise by reason of:
1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restrict-
ing, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (if) the character, dimensions or location of any
improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any
parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or
governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting
from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect,
lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of
Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from
coverage any taking which has occurred priorto Date of Policy which would be binding on the rights of a purchaser for value without knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters:
(a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant;
(b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in
writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy;
(c) resulting in no loss or damage to the insured claimant;
(d) attaching or created subsequent to Date of Policy; or
(e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage or the
estate or interest insured by this policy.
4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of
any subsequent owner of the indebtedness, to comply with applicable doing business laws of the state in which the land is situated.
5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evidenced by the insured
mortgage and is based upon usury or any consumer credit protection or truth in lending law.
6. Any claim, which arises out of the transaction vesting in the insured the estate or interest insured by this policy or the transaction creating the.
interest of the insured lender, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws.
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS
The following terms when used in this policy mean:
(a) "insured ": the insured named in Schedule A, and, subject to any rights
or defenses the Company would have had against the named insured, those
who succeed to the interest of the named insured by operation of law as
distinguished from purchase including, but not limited to, heirs, distributees,
devisees, survivors, personal representatives, next of kin, or corporate or
fiduciary successors. The term "insured" also includes
(i) the owner of the indebtedness secured by the insured mortgage and
each successor in ownership of the indebtedness except a successor who is
an obligor under the provisions of Section 12(c) of these Conditions and
Stipulations (reserving, however, all rights and defenses as to any successor
that the Company would have had against any predecessor insured, unless
the successor acquired the indebtedness as a purchaser for value without
knowledge of the asserted defect, lien, encumbrance, adverse claim or other
matter insured against by this policy as affecting title to the estate or interest in
the land);
(ii) any governmental agency or governmental instrumentality which is an
insurer or guarantor under an insurance Contract or guaranty insuring or
guaranteeing the indebtedness secured by the insured mortgage, or any part
thereof, whether named as an insured herein or not;
(iii) the parties designated in Section 2(a) of these Conditions and Stipula-
tions.
(b) "insured claimant ": an insured claiming loss or damage.
(c) "insured lender ": the owner of an insured mortgage.
(d) "insured mortgage ": a mortgage shown in Schedule B, the owner of
which is named as an insured in Schedule A.
(e) "knowledge" or "known ": actual knowledge, not constructive knowl-
edge or notice which may be imputed to an insured by reason of the public
records as defined in this policy or any other records which impart construc-
tive notice of matters affecting the land.
(f) "land ": the land described or referred to in Schedule A, and improve-
ments affixed thereto which by law constitute real property. The term "land"
does not include any property beyond the lines of the area described or
referred to in Schedule A, nor any right, title, interest, estate or easement in
abutting streets, roads, avenues, alleys, lanes, ways or waterways, but noth-
ing herein shall modify or limit the extent to which a right of access to and from
the land is insured by this policy.
(g) "mortgage ": mortgage, deed of trust, trust deed, or other security
instrument.
(h) "public records ": records established under state statutes at Date of
Policy for the purpose of imparting constructive notice of matters relating to
real property to purchasers for value and without knowledge.
(i) "unmarketability of the title ": an alleged or apparent matter affecting the
title to the land, not excluded or excepted from coverage, which would entitle a
purchaser of the estate,or interest described it '•edule A or the insured
mortgage to be released from the obligation to purchase by virtue of a contrac-
tual condition requiring the delivery of marketable title.
2. CONTINUATION OF INSURANCE
(a) After Acquisition of Title by Insured Lender. If this policy insures the
owner of the indebtedness secured by the insured mortgage, the coverage of
this policy shall continue in force as of Date of Policy in favor of (i) such insured
who acquires all or any part of the estate or interest in the land by foreclosure,
trustee's sale, conveyance in lieu of foreclosure, or other legal manner which
discharges the lien of the insured mortgage; (ii) a transferee of the estate or
interest so acquired from an insured corporation, provided the transferee is
the parent or wholly -owned subsidiary of the insured corporation, and their
corporate successors by operation of law and not by purchase, subject to any
rights or defenses the Company may have against any predecessor insureds;
and (iii) any governmental agency or governmental instrumentality which
acquires all or any part of the estate or interest pursuant to a contract of
insurance or guaranty insuring or guaranteeing the indebtedness secured by
the insured mortgage.
(b) After Conveyance of Title by an Insured. The coverage of this policy
shall continue in force as of Date of Policy in favor of an insured only so long as
the insured retains an estate or interest in the land, or holds an indebtedness
secured by a purchase money mortgage given by a purchaser from the
insured, or only so long as the insured shall have liability by reason of cove-
nants of warranty made by the insured in any transfer or conveyance of the
estate or interest. This policy shall not continue in force in favor of any pur-
chaser from an insured of either (i) an estate or interest in the land, or (ii) an
indebtedness secured by a purchase money mortgage given to an insured.
(c) Amount of Insurance. The amount of insurance after the acquisition or
after the conveyance by an insured lender shall in neither event exceed the
least of:
(i) the amount of insurance stated in Schedule A;
(ii) the amount of the principal of the indebtedness secured by the insured
mortgage as of Date of Policy, interest thereon, expenses of foreclosure,
amounts advanced pursuant to the insured mortgage to assure compliance
with laws or to protect the lien of the insured mortgage prior to the time of
acquisition of the estate or interest in the land and secured thereby and
reasonable amounts expended to prevent deterioration of improvements, but
reduced by the amount of all payments made; or
(iii) the amount paid by any governmental agency or governmental instru-
mentality, if the agency or instrumentality is the insured claimant, in the acqui-
sition of the estate or interest in satisfaction of its insurance contract or guar-
anty.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT
An insured shall notify the Company promptly in writing (i) in case of any
litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to
an insured hereunder of any claim of title or interest which is adverse to the
title to the estate or intere• the lien of the insured mortgage, as insured, and
SCHEDULE A
Policy No: 249677 - KMS
Premium: $100. o0
Amount of Insurance: $103,474.00
Date of Policy: May 18, 1999 at 8:00 AM
L Name of Insured:
City of San Luis Obispo
2. The estate or interest in the land which is covered by this policy is:
A FEE
3. Title to the estate or interest in the land is vested in:
AIDS SUPPORT NETWORK, a Non - Profit Corporation
4. The land referred to in this policy is situated in the State of California, County of San Luis Obispo
and is described as follows:
Lot 1 in Block 2 of the Southside Addition to the City of San Luis Obispo, in the
City of San Luis Obispo, County of San Luis Obispo, State of California, according
to map filed for record December 17, 1891 in Book B at page 36 of Maps, in the
Office of the County Recorder of said County.
This Policy valid only if Schedule B is attached.
Poky No. 249677 - KMS
SCHEDULE B
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses)
which arise by reason of:
PART
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or
assessments on real property or by the public records.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or
not shown by the records of such agency or by the public records.
2. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by an
inspection of the land or which may be asserted by persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records.
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey
would disclose, and which are not shown by the public records.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof;
(c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by
the public records.
PART II
A 1. Property taxes, including any assessments collected with taxes, to be
levied for the fiscal year 1999 -2000 which are a lien not yet payable.
Assessment No.: 003 -731 -006
C 2. The lien of supplemental tares, if any, assessed pursuant to the
provisions of Chapter 3.5 (commencing with Section 75) of the Revenue and
Taxation Code of the State of California.
N 3. A deed of trust to secure an indebtedness in the amount shown below, and
any other obligations secured thereby
Amount: $112,000.00
Dated: May 11, 1999
Trustor: Aids Support Network, a Non - Profit Corporation
Trustee: Chicago Title Company, a California corporation
Beneficiary: Hugh H. Platt, Jr. and Carolyn Platt, husband and
wife, as Community Property
Recorded: May 18, 1999 as Document No. 1999- 035604 of Official
Records
0 4. A document entitled "Memorandum of Regulatory Agreement Housing
Opportunities for People with Aids Program ", dated, May 13, 1999, executed
by Aids Support Network and the Department of Health Services, subject to
all the terms, provisions and conditions therein contained, recorded in
Policy No: 249677
Page 2
- xr
SCHEDULE B
(continued)
counterpart, May 18, 1999 as Document No. 1999- 035605 and 1999- 035606 of
Official Records.
P 5. A deed of trust to secure an indebtedness in the amount shown below
Amount: $100,000.00
Dated: May 13, 1999
Trustor: Aids Support Network
Trustee: Chicago Title Company
Beneficiary: California Department of Health Services
Recorded: May 18, 1999 as Document No. 1999 - 035607 of
Official Records
Q 6. A deed of trust to secure an indebtedness in the amount shown below, and
any other obligations secured thereby
Amount: $103,474.00
Dated: May 11, 1999
Trustor: Aids Support Network, a California Non - Profit
Corporation
Trustee: Chicago Title Company, a California corporation
Beneficiary: City of San Luis Obispo
Recorded: May 18, 1999 as Document No. 1999- 035608 of
Official Records
R 7. A document entitled "Affordability Agreement /Deed of Trust Covenants ",
dated, May 13, 1999, executed by City of San Luis Obispo and Aids Support
Network, a California non - profit corporation, subject to all the terms,
provisions and conditions therein contained, recorded May 18, 1999 as
Document No. 1999- 035609 of Official Records.
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which might cause loss or damage for which th ipany may be liable by
virtue of this policy, or (iii) if title to the estate erest or the lien of the
insured mortgage, as insured, is rejected as unmarketable. If prompt notice
shall not be given to the Company, then as to that insured all liability of the
Company shall terminate with regard to the matter or matters for which prompt
notice is required; provided, however, that failure to notify the Company shall
in no case prejudice the rights of any insured under this policy unless the
Company shall be prejudiced by the failure and then only to the extent of the
prejudice.
4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED
CLAIMANT TO COOPERATE
(a) Upon written request by an insured and subject to the options contained
in Section 6 of these Conditions and Stipulations, the Company, at its own
cost and without unreasonable delay, shall provide for the defense of such
insured in litigation in which any third party asserts a claim adverse to the title
or interest as insured, but only as to those stated causes of action alleging a
defect, lien or encumbrance orother matter insured against by this policy. The
Company shall have the right to select counsel of its choice (subject to the
right of such insured to object for reasonable cause) to represent the insured
as to those stated causes of action and shall not be liable for and will not pay
the fees of any other counsel. The Company will not pay any fees, costs or
expenses incurred by the insured in the defense of those causes of action
which allege matters not insured against by this policy.
(b) The Company shall have the right, at its own cost, to institute and
prosecute any action or proceeding or to do any other act which in its opinion
may be necessary or desirable to establish the title to the estate or interest or
the lien of the insured mortgage, as insured, or to prevent or reduce loss or
damage to the insured. The Company may take any appropriate action under
the terms of this policy, whether or not it shall be liable hereunder, and shall not
thereby concede liability or waive any provision of this policy. If the Company
shall exercise its rights under this paragraph, it shall do so diligently.
(c) Whenever the Company shall have brought an action or interposed a
defense as required or permitted by the provisions of this policy, the Company
may pursue any litigation to final determination by a court of competent juris-
diction and expressly reserves the right, in its sole discretion, to appeal from
any adverse judgment or order.
(d) In all cases where this policy permits or requires the Company to prose-
cute or provide for the defense of any action or proceeding, an insured shall
secure to the Company the right to so prosecute or provide defense in the
action or proceeding, and all appeals therein, and permit the Company to use,
at its option, the name of such insured for this purpose. Whenever requested
by the Company, an insured, at the Company's expense, shall give the Com-
pany all reasonable aid (i) in any action or proceeding, securing evidence,
obtaining witnesses, prosecuting or defending the action or proceeding, or
effecting settlement, and (ii) in any other lawful act which in the opinion of the
Company may be necessary or desirable to establish the title to the estate or
interest or the lien of the insured mortgage, as insured. If the Company is
prejudiced by the failure of an insured to furnish the required cooperation, the
Company's obligations to the insured under the policy shall terminate, includ-
ing any liability or obligation to defend, prosecute, or continue any litigation,
with regard to the matter or matters requiring such cooperation.
5. PROOF OF LOSS OR DAMAGE
In addition to and after the notices required under Section 3 of these Condi-
tions and Stipulations have been provided the Company, a proof of loss or
damage signed and sworn to by the insured claimant shall be furnished to the
Company within 90 days after the insured claimant shall ascertain the facts
giving rise to the loss or damage. The proof of loss or damage shall describe
the defect in, or lien or encumbrance on the title, or other matter insured
against by this policy which constitutes the basis of loss or damage and shall
state, to the extent possible, the basis of calculating the amount of the loss or
damage. If the Company is prejudiced by the failure of an insured claimant to
provide the required proof of loss or damage, the Company's obligations to
such insured under the policy shall terminate, including any liability or obliga-
tion to defend, prosecute, or continue any litigation, with regard to the matter
or matters requiring such proof of loss or damage.
In addition, an insured claimant may reasonably be required to submit to
examination under oath by any authorized representative of the Company
and shall produce for examination, inspection and copying, at such reason-
able times and places as may be designated by any authorized representative
of the Company, all records, books, ledgers, checks, correspondence and
memoranda, whether bearing a date before or after Date of Policy, which
reasonably pertain to the loss or damage. Further, if requested by any author-
ized representative of the Company, the insured claimant shall grant its per-
mission, in writing, for any authorized representative of the Company to exam-
ine, inspect and copy all records, books, ledgers, checks, correspondence
and memoranda in the custody or control of a third party, which reasonably
pertain to the loss or damage. All information designated as confidential by an
insured claimant provided to the Company pursuant to this Section shall not
be disclosed to others unless, in the reasonable judgment of the Company, it
is necessary in the administration of the claim. Failure of an insured claimant
to submit for examination under oath, produce other reasonably requested
information or grant permission to secure reasonably necessary information
from third parties as rer in this paragraph, unless prohibited by law or
governmental regulatior, .11 terminate any liability of the Company under
this policy as to that insured for that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION
OF LIABILITY
In case of a claim under this policy, the Company shall have the following
additional options:
(a) To Pay or Tender Payment of the Amount of Insurance or to
Purchase the Indebtedness.
(i) to pay or tender payment of the amount of insurance under this policy
together with any costs, attorneys' fees and expenses incurred by the insured
claimant, which were authorized by the Company, up to the time of payment or
tender of payment and which the Company is obligated to pay; or
(ii) in case loss or damage is claimed under this policy by the owner of the
indebtedness secured by the insured mortgage, to purchase the indebted-
ness secured by the insured mortgage for the amount owing thereon together
with any costs, attorneys' fees and expenses incurred by the insured claimant
which were authorized by the Company up to the time of purchase and which
the Company is obligated to pay.
If the Company offers to purchase the indebtedness as herein provided, the
owner of the indebtedness shall transfer, assign, and convey the indebted-
ness and the insured mortgage, together with any collateral security, to the
Company upon payment therefor.
Upon the exercise by the Company of the option provided for in paragraph
a(i), all liability and obligations to the insured under this policy, other than to
make the payment required in that paragraph, shall terminate, including any
liability or obligation to defend, prosecute, or continue any litigation, and the
policy shall be surrendered to the Company for cancellation.
Upon the exercise by the Company of the option provided for in paragraph
a(ii) the Company's obligation to an insured lender under this policy for the
claimed loss or damage, other than the payment required to be made, shall'
terminate, including any liability or obligation to defend, prosecute or continue
any litigation.
(b) To Pay or Otherwise Settle With Parties Other than the Insured or
With the Insured Claimant.
(i) to pay or otherwise settle with other parties for or in the name of an
insured claimant any claim insured against under this policy, together with any
costs, attorneys' fees and expenses incurred by the insured claimant which
were authorized by the Company up to the time of payment and which the
Company is obligated to pay; or
(ii) to pay or otherwise settle with the insured claimant the loss or damage
provided for under this policy, together with any costs, attorneys' fees and
expenses incurred by the insured claimant which were authorized by the
Company up to the time of payment and which the Company is obligated to
pay.
Upon the exercise by the Company of either of the options provided for in
paragraphs (b)(i) or b(ii), the Company's obligations to the insured under this
policy for the claimed loss or damage, other than the payments required to be
made, shall terminate, including any liability or obligation to defend, prose-
cute or continue any litigation.
7. DETERMINATION AND EXTENT OF LIABILITY
This policy is a contract of indemnity against actual monetary loss or dam-
age sustained or incurred by the insured claimant who has suffered loss or
damage by reason of matters insured against by this policy and only to the
extent herein described.
(a) The liability of the Company under this policy to an insured lender shall
not exceed the least of:
(i) the Amount of Insurance stated in Schedule A, or, if applicable, the
amount of insurance as defined in Section 2 (c) of these Conditions and
Stipulations;
(ii) the amount of the unpaid principal indebtedness secured by the
insured mortgage as limited or provided under Section 8 of these Conditions
and Stipulations or as reduced under Section 9 of these Conditions and
Stipulations, at the time the loss or damage insured against by this policy
occurs, together with interest thereon; or
(iii) the difference between the value of the insured estate or interest as
insured and the value of the insured estate or interest subject to the defect,
lien or encumbrance insured against by this policy.
(b) In the event the insured lender has acquired the estate or interest in the
manner described in Section 2(a) of these Conditions and Stipulations or has
conveyed the title, then the liability of the Company shall continue as set forth
in Section 7(a) of these Conditions and Stipulations.
(c) The liability of the Company under this policy to an insured owner of the
estate or interest in the land described in Schedule A shall not exceed the
least of:
(i) the Amount of Insurance stated in Schedule A; or,
(ii) the difference between the value of the insured estate or interest as
insured and the value of the insured estate or interest subject to the defect,
lien or encumbrance insured against by this policy.
(d) The Company will pay only those costs, attorneys' fees and expenses
incurred in accordance with Section 4 of these Conditions and Stipulations.
8. LIMITATION OF LIABILITY
(a) If the Company establishes the title, or removes the alleged defect, lien
or encumbrance, or cures the lack of a right of access to or from the land, or
cures the claim of unmarketability of title, or otherwise establishes the lien of
the insured mortgage, all as insured, in a reasonably diligent manner by any
method, including litigation and the completion of any appeals therefrom, it
shall have fully performed its obligations with respect to that matter and shall
not be liable for any loss or damage caused thereby.
(b) In the event of any litigation, including litigation by the Company or with
the Company's consent, the Company shall have no liability for loss or dam-
age until there has been a final determination by a court of competent jurisdic-
tion, and disposition of all appeals therefrom, adverse to the title or, if applica-
ble, to the lien of the insured mortgage, as insured.
(c) The Company shall not be liable for loss or damage to any insured for
liability voluntarily assumed by the insured in settling any claim or suit without
the prior written consent of the Company.
(d) The Company shall not be liable to an insured lender for: (i) any indebt-
edness created subsequent to Date of Policy except for advances made to
protect the lien of the insured mortgage and secured thereby and reasonable
amounts expended to prevent deterioration of improvements; or (ii) construc-
tion loan advances made subsequent to Date of Policy, except construction
loan advances made subsequent to Date of Policy for the purpose of financing
in whole or in part the construction of an improvement to the land which at
Date of Policy were secured by the insured mortgage and which the insured
was and continued to be obligated to advance at and after Date of Policy.
9. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF
LIABILITY
(a) All payments under this policy, except payments made for costs, attor-
neys' fees and expenses, shall reduce the amount of the insurance pro tanto.
However, as to an insured lender, any payments made prior to the acquisition
of title to the estate or interest as provided in Section 2(a) of these Conditions
and Stipulations shall not reduce pro tanto the amount of the insurance
afforded under this policy as to any such insured except to the extent that the
payments reduce the amount of the indebtedness secured by the insured
mortgage.
(b) Payment in part by any person of the principal of the indebtedness, or
any other obligation secured by the insured mortgage, or any voluntary partial
satisfaction or release of the insured mortgage, to the extent of the payment,
satisfaction or release, shall reduce the amount of insurance pro tanto. The
amount of insurance may thereafter be increased by accruing interest and
advances made to protect the lien of the insured mortgage and secured
thereby, with interest thereon, provided in no event shall the amount of insur-
ance be greater than the Amount of Insurance stated in Schedule A.
(c) Payment in full by any person or the voluntary satisfaction or release of
the insured mortgage shall terminate all liability of the Company to an insured
lender except as provided in Section 2(a) of these Conditions and Stipula-
tions.
10. LIABILITY NONCUMULATIVE
It is expressly understood that the amount of insurance under this policy
shall be reduced by any amount the Company may pay under any policy
insuring a mortgage to which exception is taken in Schedule B or to which the
insured has agreed, assumed, or taken subject, or which is hereafter exe-
cuted by an insured and which is a charge or lien on the estate or interest
described or referred to in Schedule A, and the amount so paid shall be
deemed a payment under this policy to the insured owner.
The provisions of this Section shall not apply to an insured lender, unless
such insured acquires title to said estate or interest in satisfaction of the
indebtedness secured by an insured mortgage.
11. PAYMENT OF LOSS
(a) No payment shall be made without producing this policy for endorse-
ment of the payment unless the policy has been lost or destroyed, in which
case proof of loss or destruction shall be furnished to the satisfaction of the
Company.
(b) When liability and the extent of loss or damage has been definitely fixed
in accordance with these Conditions and Stipulations, the loss or damage
shall be payable within 30 days thereafter.
12. SUBROGATION UPON PAYMENT OR SETTLEMENT
(a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this
policy, all right of subrogation shall vest in the Company unaffected by any act
of the insured claimant.
The Company shall be subrogated to and be entitled to all rights and
remedies which the insured claimant would have had against any person or
property in respect to the claim had this policy not been issued. If requested by
the Company, the insured claimant shall transfer to the Company all rights
and remedies against any person or property necessary in order to perfect
this right of-subrogation. The insured claimant shall permit the Company to
sue, compromise or settle in the name of the insured claimant and to use the
name of the insured claimant in any transaction or litigation involving these
rights or remedies.
If a payment on account of a claim does not fully cover the loss of the
insured claimant, the Company shall be subrogated (i) as to an insured owner,
to all rights and remedies in the proportion which the Company's payment
bears to the whole amount of loss; and (ii) as to an insured lender, to all rights
and remedies of the insured claimant after the insured claimant shall have
recovered its principal, interest, and costs of collection.
If loss should result from any act of the insured claimant, as stated above,
that act shall not void this policy, but the Company, in that event, shall be
required to pay only that part of any losses insured against by this policy which
shall exceed the amount, if any, lost to the Company by reason of the impair-
ment by the insured claimant of the Company's right of subrogation.
(b) The Insured's Rights and Limitations.
Notwithstanding the foregoing, the owner of the indebtedness secured by
an insured mortgage, provided the priority of the lien of the insured mortgage
or its enforceability is not affected, may release or substitute the personal
liability of any debtor or guarantor, or extend or otherwise modify the terms of
payment, or release a portion of the estate or interest from the lien of the
insured mortgage, or release any collateral security for the indebtedness.
When the permitted acts of the insured claimant occur and the insured has
knowledge of any claim of title or interest adverse to the title to the estate or
interest or the priority or enforceability of the lien of the insured mortgage, as
insured, the Company shall be required to pay only that part of any losses
insured against by this policy which shall exceed the amount, if any, lost to the
Company by reason of the impairment by the insured claimant of the Compa-
ny's right of subrogation.
(c) The Company's Rights Against Non - insured Obligors.
The Company's right of subrogation against non - insured obligors shall
exist and shall include, without limitation, the rights of the insured to indem-
nities, guaranties, other policies of insurance or bonds, notwithstanding any
terms orconditions contained in those instruments which provide for subroga-
tion rights by reason of this policy.
The Company's right of subrogation shall not be avoided by acquisition of
an insured mortgage by an obligor (except an obligor described in Section
1(a)(ii) of these Conditions and Stipulations) who acquires the insured mort-
gage as a result of an indemnity, guarantee, other policy of insurance, or bond
and the obligor will not be an insured under this policy, notwithstanding Sec-
tion 1(a)(i) of these Conditions and Stipulations.
13. ARBITRATION
Unless prohibited by applicable law, either the Company or the insured may
demand arbitration pursuant to the Title Insurance Arbitration Rules of the
American Arbitration Association. Arbitrable matters may include, but are not
limited to, any controversy or claim between the Company and the insured
arising out of or relating to this policy, any service of the Company in connec-
tion with its issuance or the breach of a policy provision or other obligation. All
arbitrable matters when the Amount of Insurance is $1,000,000 or less shall
be arbitrated at the option of either the Company or the insured. All arbitrable
matters when the Amount of Insurance is in excess of $1,000,000 shall be
arbitrated only when agreed to by both the Company and the insured. Arbitra-
tion pursuant to this policy and under the Rules in effect on the date the
demand for arbitration is made or, at the option of the insured, the Rules in
effect at Date of Policy shall be binding upon the parties. The award may
include attorneys' fees only if the laws of the state in which the land is located
permit a court to award attorneys' fees to a prevailing party. Judgment upon
the award rendered by the Arbitrator(s) may be entered in any court having
jurisdiction thereof.
The law of the situs of the land shall apply to an arbitration under the Title
Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
14. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT
(a) This policy together with all endorsements, if any, attached hereto by the
Company is the entire policy and contract between the insured and the Com-
pany. In interpreting any provision of this policy, this policy shall be construed
as a whole.
(b) Any claim of loss or damage, whether or not based on negligence, and
which arises out of the status of the lien of the insured mortgage, or of the title
to the estate or interest covered hereby, or by any action asserting such claim
shall be restricted to this policy.
(c) No amendment of or endorsement to this policy can be made except by
a writing endorsed hereon or attached hereto signed by eitherihe President, a
Vice President, the Secretary, an Assistant Secretary, or validating officer or
authorized signatory of the Company.
15. SEVERABILITY
In the event any provision of this policy is held invalid or unenforceable
under applicable law, the policy shall be deemed not to include that provision
and all other provisions shall remain in full force and effect.
16. NOTICES, WHERE SENT
All notices required to be given the Company and any statement in writing
required to be furnished the Company shall include the number of this policy
and shall be addressed to the Company at the issuing office or to:
CHICAGO INSURANCE COMPANY..
Claims Del. .ient
171 North Clark Street
RECORDING REQUESTED BY:
Chicago Title Company
1212 Marsh Street
San Luis Obispo, CA 93401
WHEN RECORDED, MAIL TO:
Doc No: 1999 - 035609
Rpt No: 00044368
Official Records ;NF —1 0.00
San Luis Obispo Co.
Julie L. Rodewald
Recorder
May 18, 1999
Arnold Jonas, Director —r4—n: 08:00
CotnmunityDevelopment [ 8� ;TOTAL
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401 -3249
APN: 003- 731 -006 Z1/J6VV000X S
AFFORDABILITY AGREEMENT/DEED OF TRUST COVENANTS
THIS AGREEMENT is made and entered into on this day of May, 1999, by and
between the City of San Luis Obispo ( "City" or "Lender ") and Aids Support Network, a
California non - profit corporation ( "ASN" or "Owner ").
RECITALS
A. CITY has loaned to ASN Community Development Block Grant ( "CDBG ") funds
to acquire certain property located at 345 High Street and 2047 Price Street, as further described
in Exhibit A (attached hereto and incorporated herein), and hereinafter referred to as the
"Property."
B. ASN intends to adnunister said property to provide rental housing affordable to
very-low or low- income persons living with HIV or with Acquired Immune Deficiency
Syndrome (AIDS).
C. CITY and ASN desire to assure that the dwellings in this rental housing project.
remain affordable to very-low and low- income persons for a period of not less than 30 years.
NOW, THEREFORE, the parties acknowledge and agree as follows:
ARTICLE 1. DEFINITIONS.
1.01. 'Persons living with HIV or AIDS" means persons who have been diagnosed by a
physician as having with
or AIDS and their immediate families or spouses, whose incomes do
not exceed 30 percent of County median income, adjusted for family size, as published by the
Sate Department of Housing and Corrununity Development.
1.02. "Affordable to very-low and low - income" means residential rental costs which conform to
M KI
Affordability Agreement
Page 2 of 6
standards issued by the Community Development Director of the City of San Luis Obispo and
updated periodically to reflect state or federal housing cost indices.
1.03. "Eligible Household" means a household where one or more of the household members
have been diagnosed by a physician with HIV or AIDS.
1.04. "HUD" shall mean the U.S. Department of Housing and Urban Development and its staff.
ARTICLE 2. USE RESTRICTIONS.
2.01. These affordability requirements shall be covenants running with the land as
defined in California Civil Code section 1460. Pursuant to Civil Code section 1463 which
governs such covenants, the provisions of this Agreement shall be binding upon all parties
having any right, title, or interest in the Property, or any portion thereof and on their heirs,
successors in interest and assigns for a period of 30 (thirty) years from the date of close of
escrow. The parties agree that all future deeds or transfers of interest regarding the Property shall
show the restrictions of this Agreement for as long as the Agreement is in effect.
2.02. ASN, by and for itself and any successors in interest, covenants and agrees that for
the period of time specified in this Agreement there shall be no sale, lease, rental, or other
transfer of the property except for the rental of individual apartments to eligible very-low or low -
income persons and their immediate families and spouses. Any sale, lease rental, or other
transfer of the Property in violation of this covenant shall be void.
2.03. If a transfer of title occurs as a result of foreclosure or deed -in -lieu of foreclosure of
the first deed of trust, the affordability restrictions shall become permanently void.
2.04. The Property shall be used for affordable rental housing, and apartments shall be
rented only to eligible households and at rent levels deemed "affordable ", consistent with the
CITY'S Affordable Housing Standards, on file in the Community Development Department, for
the term of this agreement, unless an alternate use is approved for the Property by the CITY
pursuant to HUD rule 24 CFR 570.505.
ARTICLE 3. GENERAL.
3.01. Notices required to be sent to CITY shall be sent by certified mail, return receipt
requested, to the following address:
Community Development Director
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401 -3249
Affordability Agreement
Page 3 of 6
Notices required to be sent to CITY shall be sent by certified mail, return receipt
requested, to the following address:
AIDS Support Network
P.O. Box 12158
San Luis Obispo, CA 93406
3.02. ASN hereby specifically acknowledges and agrees to be bound by the covenants
regarding affordability on the Property contained herein.
AIDS SUPPORT NETWORK:
i
Stephan Lamb, President, Board of Directors
Lisa Deari, Vi('e- President, Board of Directors
CITY OF SAN LUIS OBISPO:
City Administrative Officer
APPROVED AS TO FORM AND LEGAL EFFECT:
of Jo ens , Cit Attorney
State of California }
County of San Luis Obispo)
On May 13, 1999, before me, Diane R. Stuart, Notary Public, personally appeared
Stephan Lamb, President and Lisa Dean, Vice - President, ( ) personally known to
me or ( X ) proved to me on the basis of satisfactory evidence to be the persons whose
names are subscribed to the within instrument and acknowledged to me that they
executed the same in their capacities, and that by their signatures on the instrument the
persons or the entity upon behalf of which the persons acted, executed the instrument.
Witness my hand and official seal.
\ Notary Public
OFFICIAL SEAL
• DIANE R. STUART
s NOTARY PUBLIC -CALIFORNIA Lb
COMMISSION M 1142689
SAN LUIS OBISPO COUNTY +
MY Commission Exp, June 20,20M
Capacity claimed by signer(s):
( ) individual(s) corporation () partnership () attorney -in -fact () political agency
AffordabilityAgreement/Deed of Trust Covenants
�sel1�1111 °1� city Of sAn LUIS oBispo
990 Palm Street, San Luis Obispo, CA 93401-3249
State of California
County of San Luis Obispo
On May 11,1999, before me Lee Price, City Clerk, City Administrative Officer John Dunn,
personally known to me, whose name is subscribed to the within instrument and acknowledged
to me that he executed the same in his capacity and that by his signature on the instrument the
person or the entity upon byl*f of which the person acted executed the instrument.
City Clerk
/O The City of San Luis Obispo is committed to include the disabled in all of its services. programs and activities.
�/� Telecommunications Device for the Deaf (805) 781 -7410.
Affordability Agreement
Page 5 of 6
CERTIFICATE
This is to certify that the interest in the real property described in Exhibit A and conveyed by the
Affordability Agreement/Deed of Trust Covenants dated MOA,4- / /lg9C/ from Aids
Support Network, a non - profit California Corporation, to the�f 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 the authority granted by City Council
Resolution No. 8190 (1993 Series), adopted July 6, 1993, and the grantee consents to recordation
thereof by its duly authorized officer.
CITY OF
YAK $ t 99�j
Dunn, ity Administrative Officer Date
State of California -
County of San Luis
On before me, personally
(Name and Title of Officer)
appeared
(name of Signer(s)
• personally known to me - OR -
❑ proved to me on the basis of satisfactory evidence to a person(s) whose name(s) is /are
subscribed to the within instrument and acknowledged ton hat he /she /they executed the same in
his /her /their authorized capacity(ies), and that by his /her /their tature (s) on the instrument the
person(s), or the entity upon behalf of which the person(s) acted, ex ted the agreement.
WITNESS my hand and official seal.
Signature of Notary Public
,cur;NipIIN'�I�Id city of s luis oBispo
990 Palm Street San Luis Obispo, CA 93401-3249
State of California
County of San Luis Obispo
On May 11, 1999, before me Lee Price, City Clerk, City Administrative Officer John Dunn,
personally known to me, whose name is subscribed to the within instrument and acknowledged
to me that he executed the same in his capacity and that by his signature on the instrument the
person or the entity upon behal%fAvhich the person acted executed the instrument.
my htwfd�bfficiaL e
Lee Price, C.M.C.
City Clerk
/O The City of San Luis Obispo is committed to include the disabled in all of its services, programs and activities.
v Telecommunications Device for the Deaf (805) 781 -7410.
Affordability Agreement
Page 6 of 6
EXHIBIT A
Lot 1 of Block 2 of the Southside Addition to the City of San Luis Obispo, located at 345 High
Street and 2047 Price Street (corner lot with two buildings addressed on adjacent street
frontages), in the City and County of San Luis Obispo, State of California. (Assessor's Parcel
Number 003 - 731 -006)
jh/L:ASNescrow
END OF DOCUMENT
RECORDING REOUESTErA&Y
CHICAGO TITLE CO AWY
AND WHEN RECORDED MAIL TO
S
(CITY OF SAN LUIS OBISPO
ATTN:ARNOLD JONAS
990 PALM STREET
SAN LUIS OBISPO, CA 93401
Doc No: 1999 - 035610
Official Records
San Luis Obispo Co
Julie L. Rodewald
Recorder
May 18, 1999
Time: 08:00
Rpt No: 00044369
NF —1 0.00
1
I
I
I
1
I
I
I
I
1
L 21 J [ 2, ;TOTAL 0.00
Escrow No. 249677 -PBG
Order No, 249677 - KKS SPACE ABOVE THIS LINE FOR RECORDER'S USE
REQUEST FOR NOTICE 003 - 731 -006 1 No:
Under Section 2924b Civil Code
In accordance with Civil Code, Section 2924b, request is hereby made that a copy of any Notice of Default and a copy of
any Notice of Sale under the Deed of Trust recorded w 'concurrently herewith asdfflU i)=kX kX
x &. 4tx il` iCx , TWRAffAW Official Records of
San Luis Obispo SEE ATT unV aLEGAL' and describing land therein as
Executed by
AIDS SUPPORT NETWORK, a Non - Profit Corporation
as Trustor in which
CALIFORNIA DEPARTMENT OF HEALTH SERVICES
is named as Beneficiary, and
CHICAGO TITLE COMPANY, A CALIFORNIA CORPORATION
as Trustee, be mailed to CITY OF SAN LUIS OBISPO, ATTN: ARNOLD JONAS
at 990 PALM STREET, SAN LUIS OBISPO, CA 93401
NOTICE: A copy of any notice of default and of any notice of sale will be sent only to the address contained in this recorded
request. If your address changes, a new request must be recorded.
Dated May 17, 1999
STATE OF CALIFORNIA
COUNTYOF SAN LUIS OBISPO
} SS.
On MAY 17, 1999 before me,
P.B. GIOVANNELLI
a Notary Public in and for said County and State, personally appeared
GABRIELE ARTEAGA
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 autho5 pacity(ie and that
by his /her /their signature(s) on u the person ) or the
entity upon behalf of whi axe uted the
instrument.
hand
NOTARY'S SIGNATURE
ti
RFN -08/12/94bk
,w P. B. GIOVANNELLI
u COMM. #1197990
a m NOTARY PUBLIC . CALIFORNIAv
SAN LUIS OBISPO COUNTY
IF w My Comm. Expires Orr 9, 9rm
(THIS AREA FOR OFFICIAL NOTARIAL SEAL OR STAMP)
,r
i
Page 1
Order No. 249677 -KMS
Escrow No. 249677 -PBG
LEGAL
DESCRIPTION EXHIBIT
Lot 1 in Block 2 of the Southside Addition to the City of San Luis Obispo, in the
City of San Luis Obispo, County of San Luis Obispo, State of California, according to
map filed for record December 17, 1891 in Book B at page 36 of Maps, in the Office of
the County Recorder of said County.
SALE 5/25/931mn
END OF DOCUMENT
RECORDING REQUESTED -`
CHICAGO TITLE COMA .y
AND WHEN RECORDED MAIL TO
CITY OF SAN LUIS OBISPO
ATTN:ARNOLD JONAS
990 PALM STREET
SAN LUIS OBISPO, CA 93401
Doc No: 1999 - 035612 Rpt NO
Official Records ;NF -1
San Luis Obispo Co.
Julie L. Rodewald
Recorder
May 18, 1999
Time: 08:00
00044371
HER]
Escrow N0. 249677 -P80 [ 21 iTOTAL 0.00
Order NO 249677 - FM SPACE ABOVE THIS LINE FOR RECORDER'S USE
REQUEST FOR NOTICE 0038 731 -006 1 No:
Under Section 2924b Civil Code
In accordance with Civil Code, Section 2924b, request is hereby made that a copy of any Notice of Default and a copy of
any Notice of Sale under the Deed of Trust recorded ah concurrently herewith �S3 iK➢ rft iYes
NO. laxbtm*/Aee$ ]BagcXkRage Official Records of
San Luis Obispo Conntty, California, and describing land therein as
SEE ATTACHtD LEGAL EXHIBIT
Executed by
AIDS SUPPORT NETWORK, a Non - Profit Corporation
as Trustor in which
HUGH H. PLATT, JR..and CAROLYN PLATT, HUSBAND AND WIFE AS COMMUNITY PROPERTY
is named as Beneficiary, and
CHICAGO TITLE COMPANY, A CALIFORNIA CORPORATION
as Trustee, be mailed to CITY OF SAN LUIS OBISPO, ATTN: ARNOLD JONAS
at 990 PALM STREET, SAN LUIS OBISPO, CA 93401
NOTICE: A copy of any notice of default and of any notice of sale will be sent only to the address contained in this recorded
request. If your address changes, a new request must be recorded.
Dated May 17, 1999
STATE OF CALIFORNIA
COUNTY OF SAN LUIS OBISPO
SS.
GAB IELE ARTEkA
On MAY 17, 1999 before me,
P.B. GIOVANNELLI
a Notary Public in and for said County and State, personally appeared
GABRIELE ARTEAGA
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 /their signature(s) on the instrument the person(s) or the
entity upon behalf of which the n(s) acted, executed the
instrument.
WITNESS.muhand and off i ' se I.
() P. B. GIOVANNELLI
COMM. #1197990
NOTARY PUBLIC - CALIFORNIA'u
° SAN LUIS OBISPO COUNTY
My Comm. Expires OCT 9, 2002
NOTARY'S SIGNATURE ✓ / (THIS AREA FOR OFFICIAL NOTARIAL SEAL OR STAMP)
RFN- 08/12/94bk
Page 1
Order No.
Escrow No
249677 -KMS
249677 - PBG
LEGAL DESCRIPTION EXHIBIT
Lot 1 in Block 2 of the Southside Addition to the City of San Luis Obispo, in the
City of San Luis Obispo, County of San Luis Obispo, State of California, according to
map filed for record December 17, 1891 in Book B at page 36 of Maps, in the Office of
the County Recorder of said County.
SALE 5/25/931¢n
END OF DOCUMENT
. .... ... :: ... .,. .....DATE (MMIDDlYY)
ACORV EVIDENCE 'PROPERTY INSURJ' %E oPIo S�
05/19/99
THIS IS EVIDENCE THAT INSURANCE AS IDENTIFIED BELOW HAS BEEN ISSUED, IS IN FORCE, AND CONVEYS ALL THE
RIGHTS AND PRIVILEGES AFFORDED UNDER THE POLICY.
PRODUCER °"ONP" 605 - 772 - 17991805- 772 -690
NC. W.Ent
COMPANY
Mackey & Mackey Insurance
Agency, Inc. License #0668959
Genesis Insurance Company
783 Quintana Rd. Suite 2
Morro Bay CA 93442
Matthew J. Clevenger
CODE: SUB CODE:
AGENCY
CUSTOMER ID R: SANLU- 1
INSURED
LOAN NUMBER
POLICY NUMBER
Aids Support Network,
YAB00061OB0449
EFFECTIVE DATE
EXPIRATION DATE
CONTINUED UNTIL
A Non - Profit Corporation
P.O. Box 12158
07/20/98
07/20/99
TERMINATED IF CHECKED
San Luis Obispo CA 93406
I
THIS REPLACES PRIOR EVIDENCE DATED:
PROPERTY. INFORMATION
LOCATIO N /DESCRIPTION
001
2047 Price #A & #B
San Luis Obispo CA 93401
COVERAGE: INFORMATION...:....
COVERAGE/PERILS/FORMS AMOUNT OF INSURANCE DEDUCTIBLE
Loc #1 - Building - Special Form
$110,000
$500
BPP - Special Form
$5,000
$500
Loc #2 - Building - Special Form
$135,300
$500
BPP - Special Form
$5,000
$500
I ecial Conddlons
REMARKS (I n cud In 9 P.
..:. .... ._
Coverage Bound effective 5/17/99 to policy expiration 7/20/99. Policy
paid in full from 7/20/98 to 7/20/99.
CANCELLATION ...::.
...............
THE POLICY IS SUBJECT TO THE PREMIUMS, FORMS, AND RULES IN EFFECT FOR EACH POLICY PERIOD. SHOULD THE
POLICY BE TERMINATED, THE COMPANY WILL GIVE THE ADDITIONAL INTEREST IDENTIFIED BELOW 30AYS
WRITTEN NOTICE, AND WILL SEND NOTIFICATION OF ANY CHANGES TO THE POLICY THAT WOULD AFFECT THAT
INTEREST, IN ACCORDANCE WITH THE POLICY PROVISIONS OR AS REQUIRED BY LAW.
ADDITIONAL: INTEREST.
NAME AND ADDRESS
$ MORTGAGEE ADDITIONAL INSURED
LOSS PAYEE X 3rd Mortgagee
LOANp
City of San Luis Obispo
Attn: Arnold Jonas /Comm Dev.
990 Palm Street
AUTHORIZED REPRESE
San Luis Obispo CA 93401
Matthew J. Clevenger
ACORD; 2Z (3193)
ACORD CORPORATION 1993 :
PROPERTY INFORMATION......................
... ...........
.. ....... .
LOCATIONIDESCRIPTION 002
345 High Street
San Luis Obispo CA 93401
PROPERTY.
. . ....
.. .........
LOCATION/DESCRIPTION
PROPERTY
I LOCATION/DESCRIPTION
PROPERTY)NIF.P.RMATH
LOCA TIC N /DE SCRIPTION
OPERTY. INFORMATION
.. ........................
. . . . ........ .......
. .... .... .
.. .... .. . ATTACH TO tvibENCE.OF PROPERTY APPLICATION
P, /61W
MEMORANDUM
j CITY OF SAN LUIS OBISPO
TO: Lee Price, City Clerk.
FROM: Jeff Hook
DATE: June 7, 1999
SUBJECT: Promissory Note for the Aids Support Network purchase of property located at
345 High /2047 Price Streets.
Lee:
Here is the original package of recorded loan documents concerning the City's loan of CDBG
funds to ASN for purchase of low- income housing. The originals should be kept in the City
Clerk's secure files; a copy is in Community Development. They have a 30 -year "lifespan."
The documents include:
1) Promissory Note for $103,474;
2) Deed of Trust with assignment of rents;
3) Affordability agreement and deed of trust covenants;
4) Request for notice;
5) Copy of Grant Deed.
These documents convey a real property interest to the City, and may at some point, be needed
to allow the City to recover its loan or to enforce affordability restrictions or property
maintenance requirements. Questions regarding these should be directed to me, John
Mandeville, or the Community Development Director.
Thanks, Lee.
jh /L:cirymemoasn
RE ECEC IVED
JUN 0 7 1999
SLO CITY CLERK
CHICAGO TI- E COMPANY
1212 Marsh Street, San Luis Obispo, CA 93401
(805)543 -2900 Fax (805)543 -8956
June 2, 1999
0
Jeff Hook
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
Property: 2047 PRICE #A & #B 345 HIGH, SAN LUIS OBISPO, CA 93401
Escrow No: 000249677 PBG
Dear Mr. Hook:
In connection with the above referenced escrow, which closed on 05/18/99, we
enclose the following:
Certified Copy of Your Instructionss Executed by Escrow Officer
Original Note
Evidence of Insurance
Certified Copy of Final Closing Statement
Copy of Request for Notice of Default
Certified Copy of Executed Deed of Trust
Certified Copy of Executed Affordability Agreement
Certified Copy of Executed Grant Deed
If we can provide any additional information or answer any questions, please
call.
Thank you for us
appreciate your
,�
estate tra
Sincere
CHICAG AT]
PATTI B. GIOVA
Escrow Officer
1CLTR — 08/23/98bk
go Title Company. We know you had a choice. We
and look forward to assisting you with your next real
,anwiilllN'�IIII city of SAn leis OBISPO
990 Palm Street San Luis Obisno CA 93401-3249
May 14, 1999
Patti Giovannelli, Escrow Officer
Chicago Title Company
1212 Marsh Street
San Luis Obispo, Ca. 93401
Subject: Escrow Instructions for Aids Support Network, Escrow #000249677PBG
Dear Ms. Giovannelli:
The City of San Luis Obispo agrees to deposit certain federal funds (City Community
Development Block Grant Funds), in the amount of $103,474.00 (One Hundred Three Thousand
and Four Hundred Seventy Four Dollars) into the above - referenced escrow account. The City's
funds are to be held in said escrow and used for the benefit of the Aids Support Network, a
California non - profit corporation (referenced in said escrow and herein as "buyer "), and are to be
used as part of the total consideration in said escrow to purchase property located at 345 High
Street and 2047 Price Street, in the City and County of San Luis Obispo.
In connection with the above referenced escrow, we submit the following documents:
1. Deed of Trust with Assignment of Rents.
1 Affordability Agreement/Deed of Trust Covenants, between the City of San Luis Obispo
and the Aids Support Network, restricting the use of the property being acquired.
3. Promissory Note secured by a Deed of Trust.
No alterations or erasures to the documents are permitted without written approval of the City of
San Luis Obispo.
You are authorized to pay said City funds to the sellers, Hugh H. Platt Jr. and Carolyn Platt,
when the following has taken place:
All of the terms of the Escrow Instructions in said escrow, executed by "Buyer and
Seller," have been complied with, completed and accomplished and you are prepared to
deliver the deed of the property to the Aids Support Network.
1 You have received an executed copy of the Affordability Agreement/Deed of Trust
Covenants between the City of San Luis Obispo and the Aids Support Network,
restricting the use of the property being acquired; an executed copy of the Deed of Trust
with Assignment of Rents; and an executed copy of the Promissory Note.
/O The City of San Luis Obispo is committed to include the disabled in all of its services, programs and activities.
Telecommunications Device for the Deaf (805) 781 -7410.
May 14, 1999
Escrow Instructions for escrow # 000249677PBG
Page 2
Said Affordability Agreement/Deed of Trust Covenants and Deed of Trust with Assignment of
Rents are to be recorded at the close of escrow and may be recorded junior to the first and second
deeds of trust, in third equity position on the property.
Please prepare and record a request for Notice of Default on all senior liens.
Escrow holder is instructed to procure real estate tax service for the benefit of the City of San
Luis Obispo.
Upon close of escrow, please submit the executed Promissory Note and a copy of the final
closing statement to the Community Development Department, City of San Luis Obispo, 990
Palm Street, San Luis Obispo, CA 93401 -3249. Attention: Jeff Hook.
If for any reason this escrow does not close, return all documents together with these instructions
and the City funds to the Finance Director, Bill Statler, City Hall, 990 Palm Street, San Luis
Obispo, CA 93401 -3249.
Please acknowledge receipt of our enclosures and your complete understanding of our
instructions and conditions by signing and returning the original.
S
Arnold Jonas, PirqEtor
Community Deudopment Department
Attachments
jh/L:ASN99escrow
r
CITY OF SAN LUIS OBISPO
1994 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM
AIDS SUPPORT NETWORK HOUSING LOCATED AT 345 HIGH STREET
AND 2047 PRICE STREET
PROMISSORY NOTE SECURED BY DEED OF TRUST
Date: �khq -
FOR VALUE RECEIVED, the undersigned (hereinafter referred to as "ASN) promises to pay to
the City of San Luis Obispo (hereinafter referred to as "CITY "), at the office of the San Luis
Obispo City Finance Director, the principal sum of One Hundred Three Thousand, Four Hundred
and Seventy Four Dollars ($103,474) in lawful money of the United States under the terms
described below. Interest shall not accrue on this note. It is the City's intent that said funds be
used by ASN to purchase property at 345 High Street and 2047 Price Street (hereinafter referred
to as "PROPERTY ") to be used for housing affordable to very-low and low income households,
as defined by the City's Affordable Housing Standards or other standards which may be adopted
by the City Council which supercede these standards. Further, it is the City's intent that said
property shall be used for affordable housing for a period of not less than 30 years from the date
of close of escrow. Repayment of the principal sum will be required only under the
circumstances described in paragraphs A or B below.
A. The principal sum of $103,474 shall become immediately due and payable, at the option
of the City Administrative Officer, within 15 days of notice by CITY if escrow is not
successfully completed.
B. The principal sum of $103,474 shall become immediately due and payable, at the option
of the City Administrative Officer without demand or review, if at any time within 30
years after execution of this note:
(1) Title to all or any part of the property described in the Deed of Trust securing this note
is sold, conveyed, encumbered, alienated or transferred without offering the first right of
refusal to CITY, Housing Authority of the City of San Luis Obispo or to another housing
provider approved by CITY, to purchase the property at its current appraised value, less
$103,474: or
(2) An equitable interest in all or any part of the property described in the Deed of Trust
securing this note is sold, conveyed, encumbered, alienated or transferred without
offering the first right of refusal to CITY, Housing Authority of the City of San Luis
Obispo or to another housing provider approved by CITY, to purchase the property at its
current appraised value, less $103,474; or
(3) Said property is used for some primary purpose other than for housing affordable to
very -low, low- or moderate- income persons, as defined in the City's Affordable Housing
Standards on file in the Community Development Department, City of San Luis Obispo,
unless an alternate use is approved by CITY, pursuant to HUD rule 24 CFR 570.505.
Promissory Note
Page 2
(4) CITY determines that ASN has incurred obligations or made expenditures for
purposes which are not permitted or are prohibited under the Agreement dated
%`�a /, /�g5 between CITY and ASN, or if ASN has failed to fulfill its
obligations under said Agreement, or if any of the conditions exist which in CITY's
judgment, justify "termination for cause" as described in Section 58 of said Agreement.
C. Failure of CITY to exercise the option to accelerate repayment of the debt tinder the
circumstances described above will not constitute a waiver of the right to exercise the
option in the event of the subsequent occurrence of any of the circumstances listed in
paragraphs A or B.
D. In the event of default in the repayment of this Note, the undersigned shall pay to CITY
interest on the unpaid sum, from and after the date of default, which interest shall accrue
until at the then current rate imposed under California Civil Code section 3289(b), or any
similar or successor provision thereof.
E. If this Note is not paid in full if and when it becomes due, the undersigned agrees to pay
all costs and expenses of collection, including reasonable attorney fees and court costs.
F. This Note is secured by a Deed of Trust, of even date, on the property identified as
Assessor's Parcel Number 003 - 731 -006, to First American Title Insurance Company, a
California Corporation, as trustee, which is duly filed for record in the Office of the
County Recorder of the County of San Luis Obispo, State of California, described as
follows:
Lot I of Block 2 of the Southside Addition to the City of San Luis Obispo, located at 345 High Street and
2047 Price Street (corner lot with two buildings addressed on adjacent street frontages), in the City and
County of San Luis Obispo, State of California.
This Note constitutes a portion of the unpaid balance of the purchase price of real
property purchased by the maker and securing this Note. Demand, protest and notice of
demand and protest are hereby waived by the undersigned, and the undersigned hereby
waive(s), to the extent authorized by law, any and all homestead and other exemption
rights which otherwise would apply to the debt evidenced by this Note.
IN WITNESS WHEREOF, this Note has been duly executed by the undersigned as of the
date set forth below.
Promissory Note
Page 3
AIDS SUPPORT NETWORK, A California non - profit corporation.
Stephen Lamb Date
President, Board of Directors
Vice President, Board of Directors Date
_ _J_ r" � ' $ I
John D n Date
ity Ad iinistrative Officer
APPROVED AS TO FORM AND LEGAL EFFECT:
1
State of California }
County of San Luis Obispo }
On May 13, 1999, before me, Diane R. Stuart, Notary Public, personally appeared
Stephan Lamb, President and Lisa Dean, Vice - President, ( ) personally known to
me or ( X ) proved to me on the basis of satisfactory evidence to be the persons whose
names are subscribed to the within instrument and acknowledged to me that they
executed the same in their capacities, and that by their signatures on the instrument the
persons or the entity upon behalf of which the persons acted, executed the instrument.
Witness my hand and official seal.
Notary •
OFFICIAL SEAL
DIANE R' STUART
NOTARY PUBLIC • CALIFORNIA LA
COMMISSION 0 1142689 C
SAN LUIS OBISPO COUNTY
MY COMMIMIan Exp. June 20, 2001
Capacity claimed by signer(s):
( ) individual(s) A corporation () partnership () attorney -in -fact () political agency
Promissory Note
III IIPII I city of sAn 01-3249luis oaspo
State of California
County of San Luis Obispo
On May 11, 1999, before me Lee Price, City Clerk, City Administrative Officer John Dunn,
personally known to me, whose name is subscribed to the within instrument and acknowledged
to me that he executed the same in his capacity and that by his signature on the instrument the
person or the entity upon is of which the person acted executed the instrument.
Lee Price, C.M.C.
City Clerk
/O The City of San Luis Obispo is committed to include the disabled in all of its services, programs and activities.
v Telecommunications Device for the Deaf (805) 781 -7410.
RECORDING REQUESTEL �Y
•CHICAGO TITLE COMPANY
AND WHEN RECORDED MAIL TO
FARNOLD JONAS, DIRECTOR
COMMUNITY DEVELOPMENT
CITY OF SAN LUIS OBISPO
990 PALM STREET
SAN LUIS OBISPO, CA 93401 -3249
I
L J
Escrow No. 249677 -PBG
Order No 249677 - KMS SPACE ABOVE THIS LINE FOR RECORDER'S USE
Assessor's Parcel No:
003 - 731 -006
DEED OF TRUST WITH ASSIGNMENT OF RENTS AS ADDITIONAL SECURITY
This DEED OF TRUST, made this 11TH day of May , 1999 between
AIDS SUPPORT NETWORK, A California non - profit corporation
herein called TRUSTOR, whose address is P.O. BOX 12158, SAN LUIS OBISPO, CALIFORNIA 93406
CHICAGO TITLE COMPANY, a California Corporation herein called TRUSTEE, and
CITY OF SAN LUIS OBISPO
herein called BENEFICIARY, Trustor irrevocably grants, transfers and assigns to Trustee in Trust, with Power of Sale
that property in the City of SAN LUIS OBISPO County of San Luis Obispo
California, described as:
Lot 1 in Block 2 of the Southside Addition to the City of San Luis Obispo, in the City
of San Luis Obispo, County of San Luis Obispo, State of California, according to map
filed for record December 17, 1891 in Book B at page 36 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.
For the Purpose of Securing (1) payment of the sum of $ 103 , 474 . 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 or reciting it is so secured; (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.
OT2PG 1- 11/18/94bk Page 1
Escrow No: 249677 PBG
Assessor's Parcel No: 003 - 731 -006
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 of that certain
Fictitious Deed of Trust referenced herein, and it is mutually agreed that all of the provisions set forth in subdivision B of that certain Fictitious
Deed of Trust recorded in the book and 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
Anador 133 438 Lassen 192 367 Riverside 3778 347 Solano 1287 621
Butte
1330
513
Los Angeles
T -3878
874
Sacramento 71 -10 -26
615
Sonoma
2067
427
Calaveras
185
338
Madera
911
136
San Benito
300
405
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
Tehatta
457
183
Del Norte
101
549
Mendocino
667
99
San Joaquin
2855
283
Trinity
108
595
E1 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 Cruz
1638
607
Yuba
398
693
Inyo
165
672
Nevada
363
94
Shasta
800
633
Kerti
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
subdivisions A and B, (identical in all counties) are printed on the following pages hereof, and are by the within reference thereto, incorporated
herein and made a part of this Deed of Trust for all purposes as fully as if set forth at length herein, and Beneficiary may charge for. a statement
regarding the obligation secured hereby, provided the charge thereof does not exceed the maximum allowed by laws.
The undersigned Trustor, requests that a copy of any notice of default and any notice of sale hereunder be mailed to him at his address
hereinbefore set forth.
STATE OF CALIFORNIA p
COUNTY OF Qj(Jz�& i } S.S.
On before me,
a Notary Pubic in and for said County 5nd State, personally appeared
_�s'Ay-- '/'Z
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 /their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s)
acted, executed the instrument.
WITNESS my hand and official seal.
NOTARY'S SIGNATURE r
DT2PG2-08/08/94bk Page 2
AIDS SUPPORT NETWORK, a Non - Profit
Ot&fAkfAbAl oration
�- 17
DEAN,
STEPHEN Lt'6111, PRESIDENT
®R", P. B. GIOVANNELLI
COMM. #1197990
cc NOTARY PUBLIC . CALIFORNIAa. SAN LUIS OBISPO COUNTY
fty Comm. Expires OCT. 9, 2062
(THIS AREA FOR OFFICIAL NOTARIAL SEAL OR STAMP)
Escrow No: 249677 PBG Assessor's Parcel No: 003- 731 -006
DO NOT RECORD
The following is a copy of Subdivisions A and 8 of the fictitious Deed of Trust recorded in each county in California as stated in the foregoing Deed
of Trust and incorporated by reference in said Deed of Trust as being a part thereof as if set forth at length therein.
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 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 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 judgement of either appears to be
prior or superior hereto; and, in exercising any such powers, pay necessary expenses, employ counsel and pay his or her 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 or her in the same manner and with the same
effect as above provided for regarding 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 or her 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 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 or her 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.
DT2PG3 -08/08/94bk age 3
Escrow No: 249677 PEG
Assessor's Parcel No: 003 - 731 -006
(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 the neuter, and
the singular number includes the plural.
(9) The 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 CHICAGO TITLE COMPANY
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 evidence 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.
OT2PG4- 08/08/94bk rage 4
NOTARY ACKNOWLEDGEMENT
STATE OF CALIFORNIA )
COUNTY OF SAN LUIS OBISPO)
On MAY 17, 1999, 1999 before me, the undersigned, a Notary Public in and for
said State, personally appeared
STEPHEN LAMB
personally known to me (or proved to me on the basis of satisfactory evidence)
to be the person(s) whose name(s) is subscribed to the within instrument and
acknowledged to me that he executed the same in his authorized capacity(ies),
and that by his signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
WITNESS my hnnrl and nffiriAl caA1_
Signature
P. B. GIOVANNELLI
COMM. #1197990
`l• •
NOTARY PUBLIC -CALIFORNIA
SAN LUIS OBISPO COUNTY
My Comm. Expires OCT. 9, 2002
CITY OF SAN LUIS OBISPO
1994 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM
AIDS SUPPORT NETWORK HOUSING LOCATED AT 345 HIGH STREET
AND 2047 PRICE STREET
PROMISSORY NOTE SECURED BY DEED OF TRUST
Date: ' khq
FOR VALUE RECEIVED, the undersigned (hereinafter referred to as "ASN) promises to pay to
the City of San Luis Obispo (hereinafter referred to as "CITY "), at the office of the San Luis
Obispo City Finance Director, the principal sum of One Hundred Three Thousand, Four Hundred
and Seventy Four Dollars ($103,474) in lawful money of the United States under the terms
described below. Interest shall not accrue on this note. It is the City's intent that said funds be
used by ASN to purchase property at 345 High Street and. 2047 Price Street (hereinafter referred
to as "PROPERTY ") to be used for housing affordable to very-low and low income households,
as defined by the City's Affordable Housing Standards or other standards which may be adopted
by the City Council which supercede these standards. Further, it is the City's intent that said
property shall be used for affordable housing for a period of not less than 30 years from the date
of close of escrow. Repayment of the principal sum will be required only under the
circumstances described in paragraphs A or B below.
A. The principal sum of $103,474 shall become immediately due and payable, at the option
of the City Administrative Officer, within 15 days of notice by CITY if escrow is not
successfully completed.
B. The principal sum of $103,474 shall become immediately due and payable, at the option
of the City Administrative Officer without demand or review, if at any time within 30
years after execution of this note:
(1) Title to all or any part of the property described in the Deed of Trust securing this note
is sold, conveyed, encumbered, alienated or transferred without offering the first right of
refusal to CITY, Housing Authority of the City of San Luis Obispo or to another housing
provider approved by CITY, to purchase the property at its current appraised value, less
$103,474; or
(2) An equitable interest in all or any part of the property described in the Deed of Trust
securing this note is sold, conveyed, encumbered, alienated or transferred without
offering the first right of refusal to CITY, Housing Authority of the City of San Luis
Obispo or to another housing provider approved by CITY, to purchase the property at its
current appraised value, less $103,474; or
(3) Said property is used for some primary purpose other than for housing affordable to
very-low, low- or moderate - income persons, as defined in the City's Affordable Housing
Standards on file in the Community Development Department, City of San Luis Obispo,
unless an alternate use is approved by CITY, pursuant to HUD rule 24 CFR 570.505.
Promissory Note
Page 2
(4) CITY determines that ASN has incurred obligations or made expenditures for
purposes which are not permitted or are prohibited under the Agreement dated
%.Q�� between CITY and ASN, or if ASN has failed to fulfill its
obligations
under said Agreement, or if any of the conditions exist which in CITY's
judgment, justify "termination for cause" as described in Section 58 of said Agreement.
C. Failure of CITY to exercise the option to accelerate repayment of the debt under the
circumstances described above will not constitute a waiver of the right to exercise the
option in the event of the subsequent occurrence of any of the circumstances listed in
paragraphs A or B.
D. In the event of default in the repayment of this Note, the undersigned shall pay to CITY
interest on the unpaid sum, from and after the date of default, which interest shall accrue
until at the then current rate imposed under California Civil Code section 3289(b), or any
similar or successor provision thereof.
E. If this Note is not paid in full if and when it becomes due, the undersigned agrees to pay
all costs and expenses of collection, including reasonable attorney fees and court costs.
F. This Note is secured by a Deed of Trust, of even date, on the property identified as
Assessor's Parcel Number 003 - 731 -006, to First American Title Insurance Company, a
California Corporation, as trustee, which is duly filed for record in the Office of the
County Recorder of the County of San Luis Obispo, State of California, described as
follows:
Lot 1 of Block 2 of the Southside Addition to the City of San Luis Obispo, located at 345 High Street and
2047 Price Street (comer lot with two buildings addressed on adjacent street frontages), in the City and
County of San Luis Obispo, State of California.
This Note constitutes a portion of the unpaid balance of the purchase price of real
property purchased by the maker and securing this Note. Demand, protest and notice of
demand and protest are hereby waived by the undersigned, and the undersigned hereby
waive(s), to the extent authorized by law, any and all homestead and other exemption
rights which otherwise would apply to the debt evidenced by this Note.
IN WITNESS WHEREOF, this Note has been duly executed by the undersigned as of the
date set forth below.
Promissory Note
Page 3
AIDS SUPPORT NETWORK, A California non - profit corporation.
Stephen Lamb Date
President, Board of Directors
Vice President, Board of Directors Date
APPROVED AS TO CONTENT:
rV1A, g Ia9 9
John D Hn Date
ity Ad Officer
APPROVED AS TO FORM AND LEGAL EFFECT:
I-p r //,..�..OA , ?i ....�...
State of California }
County of San Luis Obispo }
On May 13, 1999, before me, Diane R. Stuart, Notary Public, personally appeared
Stephan Lamb, President and Lisa Dean, Vice - President, ( ) personally known to
me or ( X ) proved to me on the basis of satisfactory evidence to be the persons whose
names are subscribed to the within instrument and acknowledged to me that they
executed the same in their capacities, and that by their signatures on the instrument the
persons or the entity upon behalf of which the persons acted, executed the instrument.
Witness my hand and official seal.
L . a f21Y�(� IJ
Notary Public
Capacity claimed by signer(s):
OFFICIAL SEAL
• DIANE R. STUART
NOTARY PUBLIC - CALIFORNLA
COMMISSION N 1142689 C
SAN LUIS OBISPO COUNTY
MY Commission Exp. June 20, 2001
) individual(s) A corporation ( ) partnership ( ) attorney -in -fact ( ) political agency
Promissory Note
.V
w"
RECORDING REQUESTED BY:
Chicago Title Company
1212 Marsh Street
San Luis Obispo, CA 93401
WHEN RECORDED, MAIL TO:
We certify this to be a true
copy of the original /,
Arnold Jonas, Director ESCROW oFFic
Community Development
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401 -3249
APN: 003 - 731 -006
AFFORDABILITY AGREENIENT/DEED OF TRUST COVENANTS
THIS AGREEMENT is made and entered into on this Ja-i- day of May, 1999, by and
between the City of San Luis Obispo ( "City" or "Lender ") and Aids Support Network, a
California non - profit corporation ( "ASN" or "Owner ").
RECITALS
A. CITY has loaned to ASN Community Development Block Grant ( "CDBG ") funds
to acquire certain property located at 345 High Street and 2047 Price Street, as further described
in Exhibit A (attached hereto and incorporated herein), and hereinafter referred to as the
"Property."
B. ASN intends to administer said property to provide rental housing affordable to
very-low or low- income persons living with HIV or with Acquired Immune Deficiency
Syndrome (AIDS).
C. CITY and ASN desire to assure that the dwellings in this rental housing project,
remain affordable to very-low and low- income persons for a period of not less than 30 years.
NOW, THEREFORE, the parties acknowledge and agree as follows:
ARTICLE 1. DEFINITIONS.
1.01. "Persons living with HIV or AIDS" means persons who have been diagnosed by a
physician as having HIV or AIDS and their immediate families or spouses, whose incomes do
not exceed 80 percent of County median income, adjusted for family size, as published by the
Sate Department of Housing and Community Development.
1.02. "Affordable to very-low and low- income" means residential rental costs which conform to
1;
Affordability Agreement
Page 2 of 6
standards issued by the Community Development Director of the City of San Luis Obispo and
updated periodically to reflect state or federal housing cost indices.
1.03. "Eligible Household" means a household where one or more of the household members
have been diagnosed by a physician with HIV or AIDS.
1.04. "HUD" shall mean the U.S. Department of Housing and Urban Development and its staff.
ARTICLE 2. USE RESTRICTIONS.
2.01. These affordability requirements shall be covenants running with the land as
defined in California Civil Code section 1460. Pursuant to Civil Code section 1468 which
governs such covenants, the provisions of this Agreement shall be binding upon all parties
having any right, title, or interest in the Property, or any portion thereof and on their heirs,
successors in interest and assigns for a period of 30 (thirty) years from the date of close of
escrow. The parties agree that all future deeds or transfers of interest regarding the Property shall
show the restrictions of this Agreement for as long as the Agreement is in effect.
2.02. ASN, by and for itself and any successors in interest, covenants and agrees that for
the period of time specified in this Agreement there shall be no sale, lease, rental, or other
transfer of the property except for the rental of individual apartments to eligible very-low or low -
income persons and their immediate families and spouses. Any sale, lease rental, or other
transfer of the Property in violation of this covenant shall be void.
2.03. If a transfer of title occurs as a result of foreclosure or deed -in -lieu of foreclosure of
the first deed of trust, the affordability restrictions shall become permanently void.
2.04. The Property shall be used for affordable rental housing, and apartments shall be
rented only to eligible households and at rent levels deemed "affordable ", consistent with the
CITY'S Affordable Housing Standards, on file in the Community Development Department, for
the term of this agreement, unless an alternate use is approved for the Property by the CITY
pursuant to HUD rule 24 CFR 570.505.
ARTICLE 3. GENERAL.
3.01. Notices required to be sent to CITY shall be sent by certified mail, return receipt
requested, to the following address:
Community Development Director
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401 -3249
Affordability Agreement
Page 3 of 6
Notices required to be sent to CITY shall be sent by certified mail, return receipt
requested, to the following address:
AIDS Support Network
P.O. Box 12158
San Luis Obispo, CA 93406
3.02. ASN hereby specifically acknowledges and agrees to be bound by the covenants
regarding affordability on the Property contained herein.
AIDS SUPPORT NETWORK:
Stephan Lamb, President, Board of Directors
Lisa Dean', Viq'e- President, Board of Directors
CITY OF SAN LUIS OBISPO:
City Administrative Officer
APPROVED AS TO FORM AND LEGAL EFFECT:
of Jo enf Cit Attorney
State of California )
County of San Luis Obispo)
On May 13, 1999, before me, Diane R. Stuart, Notary Public, personally appeared
Stephan Lamb, President and Lisa Dean, Vice - President, ( ) personally known to
me or ( X ) proved to me on the basis of satisfactory evidence to be the persons whose
names are subscribed to the within instrument and acknowledged to me that they
executed the same in their capacities, and that by their signatures on the instrument the
persons or the entity upon behalf of which the persons acted, executed the instrument.
Witness my hand and official seal.
t J� Cl (Y��,
Notary Public T
OFFICIAL SEAL
DIANE R. STUART
NOTARY PUBUC • CALIFORNIA
COMMISSION p 1142689
SAN LUIS OBISPO COUNTY +
@My Commission Exp. June 20, 2001
Capacity claimed by signer(s):
( ) individual(s) corporation () partnership () attorney -in -fact () political agency
Affordability Agreement/Deed of Trust Covenants
RECORDING REQUESTED BY
CHICAGO TITLE COMPANY
AND WHEN RECORDED MAIL TO
IDS SUPPORT NETWORK
P.O. BOX 12158
SAN LUIS OBISPO, CA 93406
We certify this to be a true
copy of the orlaInal ,
M
L J
Escrow No. 249677 - PBG
Order No 249677 - ta4S SPACE ABOVE THIS UNE FOR RECORDERS USE
GRANT DEED
THE UNDERSIGNED GRANTOR(S) DECLARE(S)
DOCUMENTARY TRANSFER TAX IS $346.50
❑ unincorporated area ❑X- Cityof SAN LUIS OBISPO
X❑ computed on the full value of the interest or property conveyed, or is
❑ computed on the full value less the value of liens or encumbrances remaining at time of sale, and
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
Assessor's Parcel No:
003 - 731 -006
HUGH H. PLATT, JR. and CAROLYN PLATT, husband and wife, as Community Property
hereby GRANT(S) to
AIDS SUPPORT NETWORK, a Non- Profit QVcjaVi/7)4Vi/QV Corporation
the following described real property in the City of SAN LUIS OBISPO
County of San Luis Obispo
Lot 1 in Block 2 of the Southside
of San Luis Obispo, County of San
filed for record December 17, 1891
County Recorder of said County.
Dated February 23, 1999
STATEOF CALIZORNI
, State of California:
Addition to the City of San Luis Obispo, in the City
Luis Obispo, State of California, according to map
in Book B at page 36 of Maps, in the Office of the
COLINTYOF N6ZA 4�_ ) ES.
�ij
On before me,
a Notary Public in and for said County and State, personally appeared
HUGH H. PLATT JR. and CAROLYN PLATT
H r � �V
HUG .H. PL T, JR.
CAROLYN PLATT
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 FRANKIE NORCROSS I
within instrument and acknowledged to me that he /she /they executed the Comm . #1101693
same in his /her /their authorized capacity(ies), and that by his /her /their Nota
• ry Public A
signature(s) on the instrument the person(s), or the entity upon behalf of m b Ca 1 i f orni a
which the person(s) acted, executed the instrument, I SAN LUIS OBISPO COUNTY
Jun
My Cnmtl. Expires June 16. 2000
WITNESS my hand and official seal.
Signature of Notary Date My Commission Expires FOR NOTARY SEAL OR STAMP
MAIL TAX STATEMENTS TO PARTY SHOWN ON FOLLOWING LINE: IF NO PARTY SO SHOWN, MAIL AS DIRECTED ABOVE
SAME AS RETURN ADDRESS SHOWN ABOVE
Name Street Address City, State & Zip
GDt - 05 /30 /97bx
MAY. -19` 99 (WED) 15:21 MACKEYR, AD TEL: 582-3. P. 002
��o EVIDENCE OF PROPERTY INSURANCE QPIO sv DATE (MM /OD
05/19/99 99
THIS IS EVIDENCE THAT INSURANCE AS IDENTIFIEO BELOW HAS BEEN ISSUED, IS IN FORCE, AND CONVEYS ALL THE
RIGHTS AND PRIVILEGES AFFORDED UNDER THE POLICY.
PRODUCER - -_ .. _... _.... .. .. _ —..
„'� 805- 7.72 - 1799%805- 772 -690 mI�ANY
Mackey ✓i Mackey Insurance
Agency, Inc. License $0668959 Genesis Insurance Company
783 Quintana Rd. Suite 2
Morro Bay CA 93442
Matthew_ J._ Clevenger _
CODE SUB CODE
-a6Er7 -- - °- .
CUSTOMER ID t' 9ADTLU' 1
-.--
'-- LOAN NUMBER POLICYNUMBER
- INSURED -
Aida Support network, _ fYAB0006_10B0449
_
A Non- Profit Corporation E FECnvi DATE i o(PBRAn°NDATS I CONnNUED UNTTL
P.O. SOZ 12158 07/20/98 I 07/20/99 I I� TERMINATED IF CHECKED
San Luie Obispo CA 93406 THIS REPLACES PRIOR EVIDENCE DATED:
PROPERTYINFORMATTON
LOCATIONIDESCRIP TION
001
2047 Price #A a #B
San Luis Obispo CA 93401
COVERAGE INFORMATION
COVERAGEISERILS/FORMS AMOUNT OF INSURANCE
I
I DEDUCTIBLE
Lac #1 - Building - Special Form $110,000
$500
BPP - Special Form $5,000
$500
Lac #2 - Building - Special Fora $135,300
5500
BPP - Special Fora $5,000
I
I
I
i
I
$500
REMARKS (Including Special Condtdcm)
Coverage Bound effective 5/17/99 to policy expiration 7/20/99. Policy
paid in full from 7/20/98 to 7/20/99.
CANCELLATION
THE POLICY IS SUBJECT TO THE PREMIUMS, FORMS. AND RULES IN EFFECT FOR EACH POLICY PERIOD_ SHOULD THE
POLICY BE TERMINATED, THE COMPANY WILL GIVE THE ADOMONAL INTEREST IDENTIFIED BELOW 3 DAYS
WRITTEN NOTICE, AND WILL SEND NOTIFICATION OF ANY CHANGES TO THE POLICY THAT WOULD AFFECT THAT
INTEREST, IN ACCORDANCE WITH THE POLICY PROVISIONS OR AS REQUIRED BY LAW.
ADDITIONAL INTEREST
NAME AM ADDRESS
� y H,(ORTCAGEE ADDITIONAL INSURED
LOSS PAYEE S 1st Moregagee
i
—.
Hugh Platt, Jr_& Carolyn Platt
LOAN
KW as community property
P.O. Soa 151
ox 15
AUTHORIZED
Pisao CA 93448
&ATI
Matth J. er
ACORD'27 (3/93)
- RD CORPORATION 1993
MAY.-19',99(WED) 15:21 MACKEY /H, RD TEL:58 ? -3' P.003
acoRV_
EVIDENCE
F PROPERTY INSURANCE OP ID Sv DATe,MIMDY,
PROPERTY SCHEDULE 05/19/99
kids Support Network,
SANLU-1 PAGE 2
PROPERTY INFORMATION
LOCAnONMESCRIPTION 002
345 High Street
San Luis Obispo CA 93401
PROPERTY INFORMATION
LOCATIOWDESCRIF aN
PROPERTY INFORMATION
LOCAYION7DESCRWION
PROPERTY INFORMATION
LOCATIONOESCMMON
PROPERTY INFORMATION
L0CAn0W0ESCaPTI0N
PROPERTY INFORMATION
L0CATI0WDESCRIFn0N
PROPERTY INFORMATION
I.0CATI0K'DESCRvn0N
PROPERTY. INFORMATION
LACAnOwDESCRiP ION
ATTACH TO EVIDENCE OF PROPERTY APPLICATION
MAY.-19,19(WED) 15:21 MACKEY /H ID TEL:582 -3 P. 004
AMR-D. EVIDENCE OF' PROPERTY INSURANCE OF ID Sv DATE(MM1MrYTI
05/19/99
THIS IS EVIDENCE THAT INSURANCE AS IDENTIFIED BELOW HAS BEEN ISSUED. IS IN FORCE, AND CONVEYS ALL THE
RIGHTS AND PRIVILEGES AFFORDED UNDER THE POLICY.
MODUCEa 805 - 772- 1799r805 -772-690 COMPANY
WCr4vr
Mackey & Mackey Insurance
Agency, Inc. License #0668959 Genesis Insurance Company
783 Quintana Rd. Suite 2
Marro Bay CA 93442
Matthew J. Clevenger-_
(VIDE ' SUBCODE:
AGENCY .. ..
CUSTOMER IOC SANLU -1
INSURED LOAN NUMIMR POLICYNUMBER
Aida Support Network, _ YAB000610B0449
A Non- Profit CO EFFECTIVE DATE EXPIRATION DATE
Corporation _CONTINUED UNTIL
P.O. Box 12158 07/20/98 07/20/99 : TERMINATED IF CHECXED
San Luis Obispo CA 93406 THIS REPLACES PRIOR EVIDENCE DATED:
PROPERTY INFORMATION
LOCATION/DESCRIPTION
001
2047 Price #A a #B
San Luis Obispo CA 93401
COVERAGE INFORMATION
COVERAGHpHidyFOWAS
AMOUNT OF INSURANCE
DEDUCTIBLE
Loc #1 - Building - Special Form
$1101000
$500
I
BPP - Special Form
I $5,000
$500
LoC #2 - Building - Special Form
$135,300
-$500
BPP - Special Form
$5,000
$500
REMARKS (Induding SpecW Conditm)
Coverage Bound effective 5/17/99 to policy expiration 7/20/99. Policy
paid in full from 7/20/98 to 7/20/99.
CANCELLATION
THE POLICY IS SUBJECT TO THE PREMIUMS, FORMS. AND RULES IN EFFECT FOR EACH POLICY PERIOD. SHOULD THE
POLICY BE TERMINATED, THE COMPANY WILL GIVE THE ADDITIONAL INTEREST IDENTIFIED BELOW 3 WAYS
WRITTEN NOTICE, AND WILL SEND NOTIFICATION OF ANY CHANGES TO THE POLICY THAT WOULD AFFECT THAT
INTEREST, IN ACCORDANCE WITH THE POLICY PROVISIONS OR AS REQUIRED BY LAW.
ADDITIONAL INTEREST
NAME AND ADDRESS
ADDITIONAL
1 Z MORTGAGEE ADDITIONAL INSURED
PAYEE Mortgagee
CaliforniaDepartment of Health
_LLOSS _
IDAN0
Services Attn: Steve Jenkins
P.O. Box 942732
Sacramento CA 94234 -7320
AUTHOR ® ATTVE
Matthew J. r
ACORD 27 (3193)
- A 0 CORPORATION 1993
MAY.- 19,'99(WED) 15:21 MACKEY /H `RD TEL: 582 -3" P. 005
ACORD_
EVIDENCE
F PROPERTY INSURANCE OP 10 SV (M DATE 00fM
PROPERTY SCHEDULE 05/19/99
Aide Support Network,
SAMU -1 PAGE 2
PROPERTY INFORMATION
LOCATIONDESCR7MN 002
345 High Street
San Luis Obispo CA 93401
PROPERTY INFORMATION
LOCATIONDESCRIMON
PROPERTY INFORMATION
LOCAnONMESCROnON
PROPERTY INFORMATION
L0CAll0ND6CRlP -nON
PROPERTY INFORMATION
LOCATIONDESCRPTION
PROPERTY INFORMATION
LOCATIOWDESCR MON
PROPERTY INFORMATION
LOCAnONDESCRPTION
PROPERTY INFORMATION
LOCAnONOESCMPTION
ATTACH TO EVIDENCE OF PROPERTY APPLICATION
MAY. -19; 99(WED) 15:22 MUM' RD TEL:592 -3' P. 006
AC RD. EVIDENCE OF PROPERTY INSURANCE OPID av DATE
05/1
05 /1 9_/99 /99
THIS IS EVIDENCE THAT INSURANCE AS IDENTIFIED BELOW HAS BEEN ISSUED, IS IN FORCE. AND CONVEYS ALL THE
RIGHTS AND PRIVILEGES AFFORDED UNDER THE POLICY.
PRODUCER "."�, 805-772-179-%805-772-6909 COMPANY
Mackey & Mackey Insurance
Agency, Inc. License #0668959
Genesis Insurance Company
783 Quintana Rd_ Suite 2
Morro Bay CA 93442
Matther J _Clevenger _
_-
CODE SUB CODE:
CUSTOMER ID r. SAItLII -1
-
ENSURED
_ ___
LOAN NUMBER T I POLICY NUMBER
Aide Support Network,
:YAB000610BO449
--
A lion- Profit Corporation
CT
ffPENEDATE I EXPIRATION DATE CONTINUED UNTIL
P.O. Box 12158
07/20/98 07/20/99 II TERMINATED IF CHECKED
San Luis Obispo CA 93406
TNrSRER,CiSPFiOR EVIDENCE OATSV:
PROPERTY INFORMATION
LOCAT IONIDESCRIPTION
001
2047 Price #A & #B
San Luis Obispo CA 93401
COVERAGE INFORMATION
COVERAGFJPERILSTORMS
AMOUNTOF INSURANCE
DEDUCTIBLE
Loc #1 - Building - Special Form
$110,000
$500
BPP - Special Form
$5,000
$500
I
Loc #2 - Building - Special Form
$135,300
-$500
BPP - Special Form
$5,000
$500
I
REMARKS (Induding Special Cnndbor>s)
Coverage Bound effective 5/17/99 to policy
expiration 7/20/99. Policy
paid in full from 7/20/98 to 7/20/99.
CANCELLATION:
THE POLICY IS SUBJECT TO THE PREMIUMS, FORMS, AND RULES IN EFFECT FOR EACH POLICY PERIOD. SHOULD THE
POLICY BE TERMINATED, THE COMPANY WILL GIVE THE ADDITIONAL INTEREST IDENTIFIED BELOW 3 WAYS
WRITTEN NOTICE, AND WILL SEND NOTIFICATION OF ANY CHANGES TO THE POLICY THAT WOULD AFFECT THAT
INTEREST, IN ACCORDANCE WITH THE POLICY PROVISIONS OR AS REQUIRED BY LAW.
ADDITIONAL INTEREST
NAME AND ADDRESS
ADDITIONAL INSURED
PACity
o£ San Luis Obispo
FLOAN
Attn: Arnold Jonas /Comm Dev.
990 Palm street
REPRESan
Luis Obispo CA 93401
[AUTHORUM
I
atthew J. Clevenger
ACORD 27 (3193) .
ACORD CORPORATION 1993
MAY.-19'99(WED) 15:22 MACKEY /N )RD TEL:582 P. 007
AC ®RD EVIDENCE
RTC SCHEDULE PROPERTY INSURANCE OP ID SV DATE(MWMfM
05/19/99
Aide Support Network, SANLU -1 PAGE 2
PROPERTY INFORMATION
LOCAMNOESCRIPnON 002
345 High street
San Luis Obispo CA 93401
PROPERTY INFORMATION
LOCAnOWDESCRIPTION
PROPERTY INFORMATION.
L0CAT6WDES6RIPnQN
PROPERTY INFORMATION
LOCAnOWDESCRIPMN
PROPERTY INFORMATION
LOCATIOWOESCRIPTION
PROPERTY INFORMATION
L0CATI0WOESCPJFn0N
PROPERTY INFORMATION
LOCAnOWDESCR3MON .
PROPERTY INFORMATION
LO(ATIOWDESCRIPf)ON
ATTACH TO EVIDENCE OF PROPERTY APPLICATION
OCL AGO TITLE COMPANY
BUYER'S /BORROWER'S SETTLEMENT STATEMENT PAGE: 01
ESCROW NUMBER: 01330 - 000249677 -001 ORDER NUMBER: 01330 - 000249677
CLOSING DATE: 05/18/99 CLOSER: PATTI B. GIOVANNELLI
BUYER: AIDS SUPPORT NETWORK
SELLER: HUGH H. PLATT, JR. and CAROLYN PLATT
PROPERTY: 2047 PRICE #A & #B 345 HIGH, SAN LUIS OBISPO, CA 93401
Z'Dp 0@&.6j0 ,;,
CHARGE BUYER
CREDIT BUYER
Sales Price
$
315,000.00 $
Deposits
Received 03/15/99 BUYERS INITIAL DEPOSIT
2,000.00
------
TOTAL RECEIPTS
-- - - - - --
2,000.00
New Loan From HUGH H. PLATT JR.
112,000.00
New Loan From Ca. Department of Health Services
100,000.00
New Loan From City of San Luis Obispo
103,474.00
Prorations And Adjustments
County Taxes from 04/18/99 to 07/01/99
435.47
Total amount $ 1,073.77 for 180 days
Prepaid Int from 5/18/99 to 6/01/99
261.24
RENT 2047 PRICE STREET UNIT #A from 05/18/99 to
06/01/
249.17
Total amount $ 575.00 for 30 days
345 HIGH STREET from 05/18/99 to 06/01/99
400.83
Total amount $ 925.00 for 30 days
SECURITY DEPOSIT
2,075.00
CREDIT FOR TERMITE WORK
2,500.00
Settlement or Closing Fee
420.00
Document Preparation
100.00
Notary Fees
40.00
Title Insurance
400.00
Tax Service Fee To: First American Real Estate Tax
Servic
60.00
Funds Due To Buyer At Closing
--------
5,982.29
- - - - -- --------
- - - - --
TOTALS
$
--------
--------------
322,699.00 $
- - - - -- --------
--------
322,699.00
- - - - --
- - - - --
Z'Dp 0@&.6j0 ,;,
'RECORDING REQUESTEL _ f
CHICAGO TITLE COMPANY
AND WHEN RECORDED MAIL TO
(
'CITY OF SAN LUIS OBISPO
ATTN:ARNOLD JONAS
990 PALM STREET ape ((�Eg ga be t e and
SAN LUIS OBISPO, CA 93401 @°3V 0R Qjf @ln L
L ESCROW OFFICER
Escrow No. 249677 -PBG
Order No. 249677 - ro4s
SPACE ABOVE THIS UNE FOR RECORDER'S USE
Assessor's Parcel No:
REQUEST FOR NOTICE 003- 731 -006
Under Section 2924b Civil Code
In accordance with Civil Code, Section 2924b, request is hereby made that a copy of any Notice of Default and a copy of
any Notice of Sale under the Deed of Trust recorded on as Instrument /Series
No. in Book /Reel tyty Page/Image Official Records of
San Luis Obispo SEE ATTACH$DaLEGAL' and describing land therein as
Executed by
AIDS SUPPORT NETWORK, a Non - Profit Corporation
as Trustor in which
CALIFORNIA DEPARTMENT OF HEALTH SERVICES
is named as Beneficiary, and
CHICAGO TITLE COMPANY, A CALIFORNIA CORPORATION
as Trustee, be mailed to CITY OF SAN LUIS OBISPO, ATTN: ARNOLD JONAS
at 990 PALM STREET, SAN LUIS OBISPO, CA 93401
NOTICE: A copy of any notice of default and of any notice of sale will be sent only to the address contained in this recorded
request. If your address changes, a new request must be recorded.
Dated May 17, 1999
STATE OF CALIFORNIA
COUNTYOF SAN LUIS OBISPO
On MAY 17, 1999 before me,
P.B. GIOVANNELLI
a Notary Public in and for said County and State, personally appeared
GABRIELE ARTEAGA
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 authoriz :h� city(ie and that
by his /her /their signature (s) on u person ) or the
entity upon behalf of whi th person (s) d, ex e uted the
instrument.
hand
NOTARYS SIGNATURE
RFN-08 /12/94bk
SS.
FORM
.`'. IL. / ��'I'/�/
i /III
`
��,
':1•
° P. B. GIOVANNELL
I
V COMM. #1197990
NOTARY PUBUC • CALIFORNIAN
SAN LUIS OBISPO COUNTY
.con ` MY Comm. Expires OCT. 9, 2002
(THIS AREA FOR OFFICIAL NOTARIAL SEAL OR STAMP)