2002-667956 PROMISSORY NOTE SECURED BY DEED OF TRUST
$, 10,000 July 29 t ,2002
FOR VALUE RECEIVED, the undersigned, Darren Alper and Grog Alper
("Borrower"), promises to pay to the City of Encinitas ("City"), or order, the sum of
($10,000), and payable as set forth below.
1. Security for Payment. This Note is secured by a second deed of trust and
assignment of rents ("Deed of Trust"), of even date, made by Borrower in favor of the
City, encumbering Borrower's interest in and to the real property ("Property") commonly
known as 112 ManRano Circle, Encinitas, California 92024. As used herein, the
"Residence" shall mean and refer to the dwelling located on the Property which is
secured by the Deed of Trust.
2. Payments. The principal amount of this Note shall be due and payable on
or before the date provided by the City in the Notice of Acceleration, which shall not be
less than thirty (30) days, if all or any part of the Property or any interest in it is sold,
rented, or transferred (or if a beneficial interest in Borrower is sold or transferred and
Borrower is not a natural person) (herein called ~Transfer") without the prior written
consent of the City. The City shall not exercise this right of acceleration if prohibited by
federal law as of the date of the Deed of Trust or if the City has executed a separate
written waiver of this option. The following shall not constitute a Transfer:
a) A transfer of the Property from a deceased Borrower to the surviving
spouse of the Borrower if the surviving spouse is also a Borrower;
b) A transfer of the Property by a Borrower to his or her spouse pursuant to
which the spouse becomes a co-owner of the Property.
c) A transfer of the Property resulting from a decree of dissolution of the
marriage or legal separation or from a property settlement agreement incidental to such
a decree which requires the Borrower to continue to make payments on the Note and
by which a spouse who is already a Borrower becomes the sole owner of the Property.
d) A transfer of the Property by a Borrower to an inter vivos trust in which the
Borrower is the sole beneficiary.
e) A transfer by means of encumbering the Property with a lien which is a
junior lien to the lien securing the loan to Borrower evidenced by the Deed of Trust.
All payments .made under this Note shall be paid in lawful money of the
United States to the City, at 505 S. Vulcan Avenue, Encinitas, CA 92024, Attn:
Community Development Department.
NOTE.dOC
12. Giving of Notices. Any notice that must be given to Borrower under this
Note will be given by delivering it or by mailing it first class mail or by certified mail,
return receipt requested, addressed to Borrower at the address set forth in Section 1,
above. A notice that must be given to the City under this Note will be given by mailing it
certified mail, return receipt requested, to the City at the address stated in Section 2,
above. Any party may change its address by a notice given to the other party in the
manner set forth in this Section.
13. Joint and Several Responsi.bilit~. If more than one person executes this
Note, each is fully and personally obligated to pay the full amount owed and to keep all
promises in this Note,
14. Homebuyer Treinin,q. Borrower shall submit to the City of Encinitas
Community Development Department a Certificate of Completion of a Homebuyer
Training Course within six months of this date. Failure to comply with this condition will
result in the City filing of a Notice of Acceleretion. There will be no extensions to this
condition. The City has provided the Bon'ower of the dates of a Course that will be
conducted in the City within this time frame.
NOTICE TO BORROWER
Do not sign this Note if it contains blank spaces.
All spaces should be completed before you sign.
Borrov~r -- ~
Borrower
Date
NOT,.doc
3. Repayment, Borrower will owe and pay the City if Borrower makes a full
or partial prepayment of the loan or if any of the actions described in Section 2 occur
within seven years following the date of the Note. All principal will be forgiven by the
City after seven full years of owner-occupancy. A year will be calculated based on the
anniversary date of this Note. Any remaining principal will be due and payable in one
lump sum at the time of any Transfer.
4. Default. Rate of Interest. Any principal payable by Borrower to the City if
not paid when due shall bear interest (payable on demand) from its due date until
payment in full at a rate equal to ten percent (10%) per annum.
5. Prepayment. Borrower shall have the right to prepay the principal amount
of this Note in whole or in part without penalty.
6. Default Under Deed of Trust. Notwithstanding any other provisions of the
Note, if default occurs in any of the covenants or agreements contained in the Deed of
Trust securing this Note, this Note shall immediately become due and payable in full at
the option of the City, In the event the City exercises such option, the amounts due and
payable shall be the principal balance remaining on the Note.
7. Attorneys' Fees, Should suit be commenced to collect on this Note, or
any portion thereof, such sum as the court may deem reasonable shall be added hereto
as attorneys' fees.
8. Time, Time is of the essence herein.
9. Amendments, This Note may not be modified or amended except by an
instrument in writing expressing such intention and signed by an authorized
representative of the City and Borrower.
10. Severebility, If any term or provision hereof is illegal or invalid for any
reason whatsoever, such illegality or invalidity shall not affect the validity and binding
effect of the remainder of this Note upon the parties.
11. Borrower's Waivers. Borrower waives any rights to require the City to
perform certain acts. Those acts are:
a, to demand payment of amounts due (known as "presentment");
to give notice that amounts due have not been paid (known as
"notice of dishonor");
c. to obtain an official certification of non-payment (known as a "protest").
NOTE.doc
F~E RECORDING REQUESTED P~UANT
o so o DOC
1 002-0667956
RECORDING REQUESTED BY AND
WHEN RECORDED PLEASE MAIL TO:
City of Encinites
Community Development Department
505 S. Vulcan Avenue
THIS DEED OF TROUT,
AU~
07, ~00~ 4:01
OFFICIAL REOOR~8
~ ])lEE) O0~TY REOORI)ER'B OFFICE
GEGORY A ~ITH, COUNTY RECORI)ER
Spa~bove fo~)~order's use
2002-0667056
SECOND.DEEDOF TRUST.
is made this 2 9 th day of Julv 2002
among the Trustor(s), Darren Alper and Greg Alper (herein called "BORROWER"), and Com~o?.,ea! th
Land Titlo Co. (herein called"TRUSTEE"), and the Beneficiary, the City of Encinitas, (herein
called "CITY") whose address is 505 S. Vulcan Avenue, Encinitas, CA 92024.
BORROWER, in consideration of the indebtedness herein recited and the trust herein created, irrevocably
grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of
San Diego, State of California:
SEE EXHIBIT "A' ATFACHED HERETO FOR LEGAL DESCRIPTION.
SEE EXHIBIT "B" A~FI-ACHED HERETO FOR ADDITIONAL PROVISIONS,
The street address of the property is 112 Man~ano Circle, Encinites, California 92024;
TOGETHER with all the improvements now and hereafter erected on the above property, and all easements,
rights, appurtanances and rents (subject however to the rights and authorities given herain to the City to collect and'
apply such rents), all of which shall be deemed to be and remain part of the property covered by this Deed of Trust; and
all of the foregoing, together with said property (or the leasehold estate Jf this Deed of Trust is on a leasehold) are
hereinafter referred to as the "Properly";
TO SECURE to the City the payment of the sum of $ 10,000 with interest thereon according to the terms of a
promissory note or notes dated Su[y 29 ,2002, made by Borrower, payable to order of the City, and
extensions or renewals thereof (herein called "Note") and the performance of the covenants and agreements of
Borrower herein contained.
THE LIEN OF THIS DEED OF TRUST IS SECOND AND SUBSEQUENT TO THE LIEN OF THAT CERTAIN FIRST
DEED OF TRUST (HEREIN CALLED "FIRST TRUST DEED") IN FAVOR OF Flrat Nationwide Mortoa~e, (HEREIN
CALLED "PRIMARY LENDER") BEING FILED CONCURRENTLY HEREWITH.
A. TO PROTECT THE SECURITY OF THIS DEED, Borrower covenants and agrees:
Title to the Property. Borrower covenants that Borrower is lawfully seized of the estate hereby
conveyed and has the right to grant and convey the Property, and that the Borrower is unencumbered except
for encumbrances of record. Borrower covenants that Borrower warrants and will defend generally the title to
the Property against all claims and demands, subject to encumbrances of record.
Payment of Principal. Borrower shall promptly pay when due the principal indebtedness evidenced
by the Note.
Prior Mo~gages and Deeds of Trust; Charges, Liens. Borrower shall perform all of Borrower's
obligations under any mortgage, deed of trust or other security agraement with a lien Which has priority ever
the lien of this Deed of Trest, including Borrower% covenants to make payments when due. Borrower shall pay
or cause to be paid all taxes, assessments and other charges, fines and impositions attributable ~ the Property
which may attain a priodty over this Deed of Trust, and leasehold payments or ground rents if any.
,,
Rehabilitation Loan Agreement, Borrcwer shall fulfill all of Borrower's obJigafions under any home
rehabilitation, improvement, repair, or other )oan agreement which Borrower enters into with the City, The City,
at the City's option, may require Borrower to execute and deliver to the City, in a form acceptable to the City, an
assignment of any rights, claims or defenses which Borrower may have against parties who supply labor,
materials or services in connection with improvements made to the Prepare.
Hazard insurance. Borrower shall keep the improvement(s) now existing or hereinafter erected on
the Property insured against loss by fire, hazards included within the term "extended coverage", and such other
hazards as the City may require and in such amounts and for such periods as the City may require. The
insurance carrier providing the insurance shall be chosen by Borrower subject to approval by the City;
provided, that such approval will not be unreasonably withheld. All insurance policies and renewals thereof
shall be in a form acceptable to the City and shall include a standard mortgage clause in favor of and in a form
acceptable to the City. The City has the dght to hold the policies and renewals thereof, subject to the terms of
any mortgage, deed of trust or other secudty agreement with a lien which has pdority over this Deed of Trust.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and the City. The City may
make proof of loss if not made promptly by Borrower.
If Prepe~/ is abandoned by Borrower, Or if Borrower fails to respond to the City within 30 days from the date
notice is mailed by the City to Borrower that the insurance carrier offers to settle a claim for insurance benefits,
the City is authorized to collect and apply the insurance proceeds at the City's option either to restoration or
repair of the Property or to the sums secured by this Deed of Trust.
Preservation and Maintenance of Property, Condominium, Cooperatives, Planned Unit
Developments. Borrower will keep the Property in good repair and shall not commit waste or permit
impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of
Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium, a planned unit development,
Borrower shall perform all of Borrower's obligations under the declaration or covenants, conditions and
restrictions, creating or governing the condominium, planned unit development, the by-laws and regulations of
the condominium or planned unit development, and constituent documents.
Protsctlon of the City Security. Should Borrower fail to make any payment or to do any act as
herein provided, then the City or Trustee, but without obligation so to do and without releasing Borrower from
any obligation hereof, may, upon notice to Borrower, make Or do the same in such manner and to such extent
as either may deem necessary to protect the security hereof, the City or Trustee being authorized to enter
upon said proper'ty for such purposes; appear in and defend any action or preceeding purporting to affect the
security hereof or the rights or powers of the City or Trustee; pay, purchase, contest or compromise any
incumbrance, 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. If
the City required mortgage insurance as a condition of making the loan secured by this Deed of Trust,
Borrower shall pay the premiums required to maintain such insurance in effect until such time as the
requirement for such insurance terminates in accordance with Borrower's and the City's written agreement or
applicable law.
Any amounts disbursed by the City pursuant to this paragraph, will become additional indebtedness of
Borrower secured by this Deed of Trust. Unless Borrower and the City agree to other terms of payment, such
amounts will be payable upon notice from the City to Borrower requesting payment thereof. Nothing contained
in this paragraph will require the City to incur any expense or take any action hereunder.
Inspection. The City may make or cause to be made reasonable entries upon and inspections of the
Property, provided that the City will give the Borrower written notice pdor to any such inspection specifying
reasonable cause therefor related to the City's interest in the property.
IT IS MUTUALLY AGREED:
Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with
any condemnation or other faking of the Property, or part theraof, or for conveyance in lieu of condemnation,
paid to the City subject to the terms of mortgage, deed of trust or other
security agreement with a lien which has priority over this Deed of Trust.
2. Funds for Taxes and Insurance. The City will waive collection of impounds for taxes and
assessments (including condominium and planned unit development assessments, if any). Borrower will make alt
payments for impounds to first trust deed holder.
Application of Payments. Unless applicable law provides otherwise, all payments received by the
City under the Note shall be applied by the City first in payment of amounts to the City by Borrower, then to the
principal of the Note.
Borrower Not Released; Forbearance by the City Not a Waiver. Extension of the time for
payment or modification of amortization of the sums secured by this Deed of Trust granted by the City to
Borrower or to any successor in interest of Borrower shall not operate to release, in any manner, the liability of
the original Borrower and Borrower's successors in interest. The City shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of
the sums secured by this Deed of Trust by reason of any demand made by the original Borrower and
Borrower's successors in interest. Any forbearance by the City in exercising any right or remedy hereunder, of
otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or
remedy.
Successors and Assigns Bound, Joint and Several Liability; Co-signers. The covenants and
agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and
assigns of the City and Borrower, subject to the provisions of Paragraph 16 hereof. All covenants and
agreements of Borrower shall be joint and several. Any Borrower who co-signs this Deed of Trust, but does
not execute the Note, (a) is co-signing this Deed of Trust only to grant and convey that Borrower's interest in
the Proper'b/to Trustee under the terms of this Deed of Trust, (b) is not personally liable on the Note or under
this Deed of Trust, and (c) agrees that the City and any other Borrower hereunder may agree to extend,
modify, forbear, or make any other accommodation with regard to the terms of this Deed of Trust or the Note,
without that Borrower's consent and without releasing that Borrower or modifying this Deed of Trust as to that
Borrower's interest in the Property.
Notice. Except for any notice required under applicable law to be given in another manner, (a) any
notice to Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by
certified mail, return receipt requested, addressed to Borrower at the Property address or such other address
as Borrower may designate by notice to the City as provided herein, and (b) any notice to the City will be given
by certified mail, return receipt requested, to the City address stated herein or to such other address as the City
may designate by notice to Borrower as provided herein. Any Notice provided for in this Deed of Trust shall be
deemed to have been given to Borrower or the City when given in the manner designated herein.
Governing Law, Severability. The state and local laws applicable to this Deed of Trust shall be the
laws of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability
of Federal law to this Deed of Trust· In the event that any provision or clause of this Deed of Trust or the Note
conflicts with applicable law, such conflict shall not affect other provisions of this Deed of Trust or the Note
which can be given effect without the conflicting provision, and to this end the provisions of this Deed of Trust
and the Note are declared to be severable. As used herein, "costs," "expenses" and "attorneys' fees" include
ail sums to the extent not prohibited by applicable law or limited herein.
Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and this Deed of Trust
at the time of execution or after recordation hereof.
Acceleration, Remedies. Upon Borrower's breach of any covenant or agreement of Borrower in
this Deed of Trust, the City, prior to acceleration, shall give Notice to Borrower specifying: (1) the breach; (2)
the action required to cure such breach; (3) a date, not less than 10 days from the date the Notice is mailed to
Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the date
specified in the Notice may result in acceleration of the sums secured by this Deed of Trust and sale of the
Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to
bring a court action to assert the nonexistence of a default or any other defense of Borrower to acceleration
and sale. If the breach is not cured on or before the date specified in the Notice, the City, at the City's option,
10.
11.
12.
demand and may invoke the power of sale and any other remedies permitted by applicable law. The City shall
be entitled to collect all reasonable costs and expenses incurred in pursuing these remedies, including, but not
limited to, reasonable attorneys' fees.
If the City invokes the power of sale, the City shall execute or cause Trustee to execute a written notice of the
occurrence of an event of default and of the City's election to cause the Property to be sold and shall cause
such notice to be recorded in each county in which the Property or Some part thereof is located. The City or
Trustee shall mail copies of such notice in the manner prescribed by applicable law. Trustee shall give public
notice of sale to the persons and in the manner prescribed by applicable law. After the lapse of such time as
may be required by applicable law, Trustee, without demand on Borrower, shall sell the 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 the Property by public announcement at the time
and place of any previously scheduled sale. Any person, including the City or the City's designee, may
purchase the Property at such sale.
Trustee shall deliver to the pumhaser Trustee's deed conveying the Property so sold without any covenant or
warranty, expressed or implied. The recitals in the Trustee's deed shall be conclusive proof of the truthfulness
thereof. Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and
expenses of the sale, including but not limited to, reasonable Trustae's and attorneys' fees and costs of title
evidence; (b) to all sums secured by this Deed of Trust with accrued interest; and (c) the excess, if any, to the
person or persons legally entitled thereto.
Borrower's Right to Reinstate. Not withstanding the City's acceleration of the sums secured by this
Deed of Trust due to Borrower's breach, Borrower shaJJ have the right to have any proceedings begun by the
City to enforce this Deed of Trust discontinued at any time prior to five days before sale of the Property
pursuant to the power of sale contained in this Deed of Trust or at any time prior to entry of a judgment
enforcing this Deed of Trust if: (a) Sorrower pays the City all sums which would be then due under this Deed of
Trust and the Note had no acceleration eccun-ed; {b) Borrower cures all breaches of any other covenants or
agreements of Borrower contained in the Deed of Trust; (c) Borrower pays all reasonable expenses incurred by
the City and Trustee in enforcing the covenants and agreements of Sorrower contained in this Deed of Trust,
and in enforcing the City's and Trustee's remedies as provided in paragraph 17 hereof, including, but not
limited to, reasonable attorneys' fees; and (d) Borrower takes such action as the City may reasonably require to
assure that the lien of this Deed of Trust, the City's interest in the Property and Borrower's obligation to pay the
sums secured by this Deed of Trust shall continue unimpaired, Upon such payment and cure by Borrower, this
Deed of Trust and the obligations secured hereby shall remain in full force and effect as if no acceleration had
occurred.
Assignment of Rents; Appointment of Receiver; the City in Possession. As additional security,
Borrower hereby assigns to the City the rents of the Property, provided that Borrower shall, prior tO any default
by Borrower in payment cf any indebtedness secured hereby or in performance of any agreement hereunder,
have the dght to collect and retain such rents as they become due and payabre,
Upon any such default, the City, in person, by agent or by judicially appointed receiver, shall be entitled tO enter
upon, take possession of and manage the Property and to collect the rents of the Property including those past
due. All rents collected by the City or the receiver shall be applied first to payment of the cost of management
of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receivers
bonds and reasonable attorneys' fees, and then to the sums secured by this Deed of Trust. The City and the
receiver shall be liable to account only for those rents actually received. The entering upon and taking
possession of said property and the collection of such rents 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.
Reoonveyance, Upon payment of all sums secured by this Deed of Trust, the City shall request
Trustee to reconvey the Property and will surrender this Deed of Trust and all Notes evidencing indebtedness
secured by this Deed of Trust to Trustee. Trustee shall reconvey the Property without warranty and without
charge to the person or persons legally entitled theretO. Such person or persons shall pay all costs of
recordation, if any.
15924
Substitute Trustee e City, or any succ, essor in ownership indebtedness secured hereby,
may from time to time appoint a successor trustee to any Trustee appointed hereunder by an instrument
executed and acknowledged by the City and recorded in the office of the Recorder of the county where the
Property is located, The instrument shall contain the name of the original Beneficiary, Trustee and Borrower,
the book and page where this Deed is recorded and the name and address of the successor trustee. The
successor trustee shall, without conveyance of the Property, succeed to all the title, power and duties
conferred upon the Trustee herein and by applicable law, This procedure for substitution of trustee shall
govern to the exclusion of all other previsions for substitution,
14,
Fee for Required Statements. The City may charge a fee not to exceed sixty dollars ($60) for
furnishing a beneficiary statement or payoff demand statement as provided for in Section 2943 of the Civil
Code of California.
15,
Subordination. The City and Borrower acknowledge and agree that this Deed of Trust is subject and
subordinate in all respects to the liens, terms, covenants and conditions of the First Trust Deed and to all
advances heretofore made or which may hereafter be made pursuant to the First Trust Deed including all sums
advanced for the purpose of (a) protecting or further securing the lien of the First Trust Deed, curing defaul[s by
the Borrower under the First Trust Deed or for any other purpose expressly permitted by the First Trust Deed,
and (b) constructing, renovating, repairing, furnishing, fixtudng or equipping the Property. The terms and
provisions of the First Trust Deed are paramount and controlling, and they supersede any other terms and
previsions hereof in conflict therewith. In the event of a foreclosure or deed in lieu of foreclosure of the First
Trust Deed, any previsions herein or any provision in any other collateral agreement restricting the use of the
Preperty to Iow or moderate income households or otherwise restricting the Borrower's ability to sell the
Preperty shall have no further fome or effect on subsequent owners or purchasers of the Preperty. Any
person, including his/her successors or assigns (other than the Borrower or a related entity of the Borrower),
receiving title to the Preperty threugh a foreclosure or deed in lieu of foreclosure of the First Trust Deed shall
receive title to the Property free and clear from such restrictions.
Further, if the Primary Lender acquires title to the Property pursuant to a deed in lieu of foreclosure, the lien of
this Deed of Trust shall automatically terminate upon the Primary Lender's acquisition of title, provided that (i)
the City has been given wdtten notice of a default under the First Trust Deed, and (ii) the City shall not have
cured the default under the First Trust Deed, or diligently pursued cudng the default as determined by the
Primary Lender, within the 60 day period provided in such notice sent to the City.
IN WITNESS WHEREOF, BORROWER HAS EXECUTED THIS DEED OF TRUST.
signature
s" atu e I
ACKNOWLEDGMENT:
date of signature
d~t~' o~sil~natul;~ -
State of Callfornla, Count~ of San Diego
On ,..~'--~ ,,~'; ,,~.~ beforeme, b.~-~i~.~ , a No~ Public
~monal~ ap~a~d ~ ~ ~ ~ ~ ~ ~" ~
~ proved te me 0n~he basis ~f s~fis~o~ evident) ~ be-t~ person(s) whose name(s) su~cdbed m
the within instm~nt, and acknowledged te me that ~e/they executed the same in ~rAheir authored
capaci~(ies), and that by ~r/their signature(s) on the inst~ment the pemon(s), or the enti~ upon behalf of which
the pemons acted, executed the ins~ument,
OMM, # 13054~0
NOTARY PUBLIC-CALIFORNIA
SAN DIEGO COUNfY
WITNESS my hand and official seal,
15925
Exhibit "A"
All that certain real property situated in the County of San Diego, State of
California, described as follows;
A CONDOMINIUM COMPRISED OF:
PARCEL 1:
An undivided 1/76~h interest in and to Lot 2 of County of San Diego Tract No.
4281, in the City of Encinitas, County of San Diego, State of California, according
to Map thereof No. 10903, filed in the Office of the County Recorder of San Diego
County, on April 11, 1984.
EXCEPT THEREFROM the following:
(A)
Living Units 45 through 120 inclusive, a shown and defined on that
certain West Hampton Cove Phase 2 Condominium Plan, recorded in
the Office of the County Recorder of San Diego County, on June 2,
1984 as File No. 84-235783, of Official Records.
The exclusive right to possession and occupancy of those areas
designated as Garages, Patios, Balconies, Carports and Storage
Exclusive Use Areas, as shown upon the Condominium ,Plan referred to
above .... - -'-
(c)
AND RESERVE THEREFROM for the benefit of and appurtenant to each
of the Condominiums which may hereafter be located upon Let i and
their respective owners, a non-exclusive easement to use the Common
Area of Lot 2, as defined in the West Hampton Cove Phase 2
Condominium Plan, recorded June 22, 1984 as File No. 84-235783, of
Official Records pursuant to the provisions of the Declaration, recorded
April 12, 1984 as File No. 84-134606, of Official Records to the same
extent and with the same effect as if each of the owners of a
Condominium in Lot ! owned an undivided interest in the Common
Area in Lot 2.
PARCEL 2:
Living Unit 70, as shown and defined upon the Condominium i~lan referred to in
Parcel t.
EXHZBZT "A" Continued
PARCEL 3:
G1. 926
The exclusive right to possession and occupancy of those portions of Lot 2,
designated as Exclusive Use Areas consisting of Garages, Patios, Balconies,
Carports and Storage bearing the same number of the Living Unit in Parcel 2 and
being appurtenant to Parcels 1 and 2 above.
PARCEL 4:
An easement to use the Common Area of Lot :I. of County of San Diego Tract No.
4281, according to ~lap thereof No. ].0903 asthe Common Area is defined In the
West Hampton Cove Phase 1 Condominium Plan, recorded April 12, 1984 as File
No. 84-].34605, of Official Records, in accordance with the provisions of the
Declaration above referred to.
Assessor's Parcel Number:
258-111-28-26
G15927
EXHIBIT "B"
RIDER ATTACHED TO AND MADE A PART OF DEED OF TRUST
DATED AS OF July 29 ,2002, AMONG
Darren Alper and Greg Alper TRUSTOR/BORROWER, and
Commonwealth Land Title CO, TRUSTEE, and
THE CiTY OF ENCINITAS, BENEFICIARY
This Rider amends and supplements the Deed of Trust to which it is attached, Unless othe[wise specified,
capitalized terms shall have the meanings assigned by the Deed of Trust, the Note referred to therein, or .the related
Loan Documents (as defined in the Note). Borrower agrees to the provisions Qf this Rider in addition to those of the
Deed of Trust. The lang~i~ge 6f thle Rider prevails over any provision or term of the Deed of Trust in the event
of a conflict.
1. Due on Transfer Clause. If all or any part of the Property or any interest in it is sold, rented, or
transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without the
wriffen consent of the City (herein celled "Transfer"), the City may, at its option, require immediate payment in full of all
sums secured by the Deed of Trust (herein called "Acceleration"). The City shall not exercise this option if prohibited by
federal law as of the date of the Deed of Trust or if the City has executed a separate written waiver of this option. The
following limited instances do not constitute a Transfer:
a) A transfer of the Property from a deceased Borrower to the surviving spouse of the Borrower if the
surviving spouse is also a Borrower;
b) A transfer of the Property by a Borrower to his or her spouse pursuant to which the spouse becomes a
co-owner of the Property.
c) A transfer o{'th~ Property resulting from a decree of dissolution of the marriage or legal separation or
from a property settlement agreement incidental to such a decree which requires the Borrower to continue to make
payments on the Note and by which a spouse who is already a Borrower becomes the sole owner of the Property.
d)
beneficiary.
A transfer of the Proper~y by a Borrower to an inter vivos trust in which the Borrower is the sole
e) A transfer by means of encumbering the Property with a lien which is a junior lien to the lien secudng
the loan to Borrower evidenced by the Deed of Trust.
If the City exercises this option, the City shall give Borrower Notice of Acceleration. The Notice shall provide a
period of not less than 30 days from the date the notice is delivered or mailed within which the Borrower must pay all
sums secured by the Deed of Trust, If Borrower fails to pay these sums prior to the expiration of this peded, the City
may invoke any remedies permitted by this Deed of Trust without further notice or demand on Borrower.
NOTICE TO BORROWER:
Do not sign this Rider if it contains blank spaces. All spaces should be completed before you sign.
date of signature