1998-79310
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First American Title C & I Dept
WHEN RECORDED, RETURN TO:
Andrews & Kurth L.L.P.
601 South Figueroa Street
Suite 4200
Los Angeles, California 90017-5704
Attention: Marta T. Kurland, Esq.
ltb<\Oq G -.;I.
Loan No. 240779
Super Crown Books and La Jolla Patio
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DOC # 1998-0079310
FEB 17. 1998 11:22 AM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
GREGORY J. SMITH, COUNTY RECORDER
FEES: 17.00
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ESTOPPEL CERTIFICATE AND CERTIFICATE OF COMPLIANCE
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1891
ESTOPPEL CERTIFICATE AND CERTIFICATE OF COMPLIANCE
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IaR.lttlry --' 1998
Column Financial, Inc.
c/o Andrews & Kurth L.L.P.
601 South Figueroa Street, Suite 4200
Los Angeles, California 90017
Attn: Marta T. Kurland, Esq.
Re: Development Agreement ("Agreement") recorded on December 14, 1994
in San Diego County, California as Instrument No. 1994-0713677, as
assigned pursuant Assignment of City Development Agreement recorded
on December 8, 1995 as Instrument No. 1995-0559945, which Agreement
affects, among other property, the property described as Lot 15 of
Amended Map ofEncinitas Map No. 13258, and located at 1092 North EI
Camino Real, Encinitas, California (the "Project").
Ladies and Gentlemen:
The undersigned, the City ofEncinitas, California ("City"), is a party to, and required, the
execution and recording of the Agreement. City understands that Column Financial, Inc.
("Lender") intends to make a loan to Carter/Whitwer Enterprises, LLC ("Borrower") to be
secured by the Project. In connection with the foregoing, City hereby certifies to, and agrees
with, Lender as follows:
1. The Agreement is in full force and effect and has not been amended or changed.
2. All obligations and fees imposed upon the owner of the Project under the
Agreement have been fully satisfied and/or paid. No pastf'Present or :I11tblre obligations, fees or ~
liabilities affecting the Project or the owner thereof remain, or ",ill b@Gsme, outstanding under the '/ffS
Agreement. " /_ 1_.1_/2
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3. There is no existing default under the Agreement and~o event exists which, with
the passage of time or the giving of notice, or both, would constitute a default under the
Agreement by any party to the Agreement.
4. The undersigned is duly authorized and fully qualified to execute this instrument on
behalf of the city, thereby binding City.
January 23, 1998 (3:07pm)
LOSOl:5521O.1
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1892
Column Financial Inc.
Page 2
5. There are no other documents or agreements to which City and Borrower are a
party which affect the Borrower and/or the Project.
6. City understands and acknowledges that you are about to make a loan to
Borrower and receive as part of the security for such loan a Deed of Trust encumbering
Borrower's fee interest in the Project and the rents, issues and profits therefrom (the "Mortgage")
and that you (and persons or entities to whom the Mortgage may subsequently be assigned) are
relying upon the representations and warranties contained herein in making such loan.
7. City acknowledges and agrees that Borrower and Lender shall be entitled to rely
on City's certifications set forth herein.
Address of City:
505 South Vulcan Avenue
Encinitas,California 92024
CITY OF ENCINITAS, CALIFORNIA
Attn: City Manager
January 23, 1998 (3:07pm)
LOSOl:5521O.1
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ALL-PURPOSE ACKNOWLEDGEMENT
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State of California
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County of San Diego
On February 2, 1998, before me, Patricia Drew, Notary Public,
appeared James F. Benson personally known to me to be the person
whose name is subscribed to the within instrument and acknowledged
to me that he executed the same in his authorized capacity, and that
by his signature on the instrument, or the entity upon behalf of which
the person acted, executed the instrument.
WITNESS my hand and official seal
~1r~
Patricia Drew, Notary Public
My Commission Expires June 22, 2001
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