1995-287652J
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When Recorded Mail To: "
This Dm) OF TRUST. made this 23rd day of June, 1995
~6~ 4 1995-4287652
0 - UL-1995 03x33 PM
The Money Store OFFICIAL RECORDS
9255 Towne Centre Drive, Suite #250 SAN DIEGO COUNTY RECORDER'S OFFICE
San Diego, CA 92121 V' GREGORY SMITH COUNTY RECORDER
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DEED OF TRUST"" 24.00
(Potidpadon)
19 95, by and between Hilltop Partners, LLC, a California Limited Liability Company
hereinafter referred to as "Grantor," whose address is 583 Westlake Street, Encinitas, CA 92024
First American Title Insurance Company
hereinafter referred to as "Trustee," whose address Is 411 Ivy Street, San Diego, CA 92101
hereinafter feferr~to aid BenndtaryWho Who maintains an office and place of business at
P.O. Box 162247, Sacramento, CA. 95816
In participation with the Small Business Administration, an agency of the United States.
WITNIiSSErH, that for and in consideration of $1.00 and other good and valuable consideration, receipt of which
is hereby acknowledged, the Grantor does hereby bargain, sell, grant. assign, and convey unto the Trustee, his successors
and assigns, all of the following described property situated and being in the County of San Diego ,
State of California
Property most commonly known as 583 Westlake Street, Encinitas, CA 92024 and legally
described in Exhibit "A" attached hereto and made a part hereof by this reference.
Together with and including all buildings, all fixtures, including but not Waited to all plumbing, heating, lighting, ven-
tilating, refrigerating, incinerating, air conditioning apparatus, and elevators (the Ttustor hereby declaring that it is in-
tended that the items herein enumerated *all be deemed to have been permanently Installed as part of the realty), and
all Improvements now or hereafter existittg thereon; the hereditamenu and appurtenances and all other rights thereunto
belonging, or in anywise appertaining, and the reversion and reversions, remainder and remainders, and the rents, issues,
and profits of the above described property. To have and to hold the same unto the Trustee, and the successors in Interest
of the Trustee. forever. in fee simple or such other awe, if any. as is stated herein trust, to secure the payment of a
promissory note of this date. in the principal sum of Six Hundred Eight Thousand Dollars an 00/100 Is
which is subject to a variable interest rate. --WL
armed by Anthony Ursich as Member& Randy Wong, as Member
in behalf of Hilltop Partners, LLC, a California Limited Liability Company
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1. This conveyance is made upon and subject to the further trust that the said Grantor shall remain in quiet and peaceable
possession of the above granted and described premises and take the profits thereof to his own use until default be made
in any payment of an installment due on said note or in the performance of any of the covenants or conditions contained
therein or in this Deed of Trust; and, also to secure the reimbursement of the Beneficiary or any other holder of said
note, the Trustee or any substitute trustee of any and all costs and expenses incurred, including reasonable attorney's fees,
on account of any litigation which may arise with respect to this Truat or with respect to the indebtedness evidenced by
said note, the protection and maintenance of the property hereinabove described or in obtaining possession of said property
after any sale which may be made as hereinafter provided.
2. Upon the full payment of the indebtedness evidenced by said note and the interest thereon, the payment of all other
sums herein provided for, the repayment of all monies advanced or expended pursuant to said note or this instrument,
and upon the payment of all other proper costs, charges, commissions, and expenses, the above described property shall
be released and reconveyed to and at the cost of the Grantor.
3. Upon default in any of the convenants or conditions of this instrument or of the note or loan agreement secured
hereby, the Beneficiary or his assigns may without notice and without regard to the adequacy of security for the indebtedness
secured, either personally or by attorney or agent without bringing any action or proceeding, or by a receiver to be ap-
pointed by the court, enter upon and take possession of said property or any part thereof, and do any acts which Beneficiary
deems proper to protect the security hereof, and either with or without taking possession of said property, collect and
receive the rents, royalties, issues, and profits thereof, including rents accrued and unpaid, and apply the same, less costs
of operation and collection, upon the indebtedness secured by this Deed of Trust, said rents, royalties, issues, and profits,
being hereby assigned to the Beneficiary as further security for the payment of such indebtedness. Exercise of rights under
this paragraph shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to
such notice but shall be cumulative to any right and remedy to declare a default and to cause notice of default to be re-
corded as hereinafter provided, and cumulative to any other right and/or remedy hereunder, or provided by law, and
may be exercised concurrently or independently. Expenses incurred by Beneficiary hereunder including reasonable attorney's
fees shall be secured hereby.
4. The Grantor covenants and agrees that if he shall fail to pay said indebtedness, or any part thereof, when due,
or shall fail to perform any covenant or agreement of this instrument or of the promissory note secured hereby, the entire
indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the option of the
Beneficiary or assigns, regardless of maturity, and the Beneficiary or assigns may enter upon said property and collect
the rents and profits thereof. Upon such default in payment or pefermance, and before or after such entry, the Trustee,
acting in the execution of this Trust, shall have the power to sell acid property, and it shall be the Trustee's duty to sell
said property (and in case of any default of any purchaser, to resell) at public auction, to the highest bidder, first giving
four weeks' notice of the time, terms, and place of such sale, by advertisement not less than once during each of said
four weeks in a newspaper published or distributed in the county or political subdivision in which said property is situated,
all other notice being hereby waived by the Grantor (and the Beneficiary or any person on behalf of the Beneficiary may
bid and purchase at such sale). Such sale will be held at a suitable place to be selected by the Beneficiary within said county
or political subdivision. The Trustee is hereby authorized to execute and deliver to the purchaser at such sale a sufficient
conveyance of said property. which conveyance shall contain recitals as to the happening of default upon which the execu-
tion of the power of sale herein granted depends; and the said Grantor hereby constitutes and appoints the Trustee as
his agent and attorney in fact to make such recitals and to execute said conveyance and hereby covenants and agrees that
the recitals to made shall be binding and conclusive upon the Grantor, and said conveyance shall be effectual to bar an
equity or right of redemption, homestead, dower, right of appraisement, and all other rights and exemptions of the Grantor,
all of which are hereby expressly waived and conveyed to the Trustee. In the event of a sale as hereinabove provided,
the Grantor, or any person in possession under the Grantor, shall then become and be tenants holding over and shall
forthwith deliver possession to the purchaser at such sale or be summarily dispossessed, in accordance with the provisions
of law applicable to tenants holding over. The power and agency hereby granted are coupled with an interest and are
irrevocable by death or otherwise, and are granted as cumulative to all other remedies for the collection of said indebtedness.
The Beneficiary or Assigas may take any other appropriate action pursuant to state or Federal statute either in state or
Federal court or otherwise for the disposition of the property.
S. In the event of a sale as provided in paragraph 4. the Trustee shall be paid a fee by the Beneficiary In an amount
not in excess of * percent of the gross amount of said sale or sales, provided, however, that the amount of such
fee shall be reasonable and shall be approved by the Beneficiary as to reasonableness. Said fee shall be in addition to
the costs and expenses incurred by the Trustee in conducting such sale. The amount of such costs and expenses shall be
deducted and paid from the sale's proceeds. It ,is further agreed that if said property shall be advertised for sale as
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herein provided and not sold, the Trustee shall be entitled to a reasonable fee, in an amount acceptable to the Beneficiary
for the services rendered. The Trustee shall also be reimbursed by the Beneficiary for all costs and expenses incurred in
connection with the advertising of said property for sale if the We is not consummated.
6. The proceeds of any sale of said property in accordance with paragraph 4 shall be applied first to payments of
fees, costs, and expenses of said sale, the expenses incurred by the Beneficiary for the purpose of protecting or maintaining
said property and reasonable attorneys' fees; secondly, to payment of the indebtedness secured hereby; and thirdly, to
pay any surplus or excess to the person or persons legally entitled thereto.
7. In the event said property Is sold pursuant to the authorization contained in this instrument or at a judicial foreclosure
We and the proceeds are not sufficient to pay the total indebtedness secured by this Instrument and evidenced by said
promissory note, the Beneficiary will be entitled to a deficiency judgement for the amount of the deficiency without regard
to appraisement, the Grantor having waived and assigned all rights of appraisement to the Trustee.
8. The Grantor covenants and agrees as follows:
a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the manner
therein provided.
b. He will pay all taxes, assessments, water rata, and other governmental or municipal charges, fines or im-
positions, for which provision has not been made hereinbefore, and will promptly deliver the official receipts therefor
to the Beneficiary.
c. He will pay such expenses and fees as may be incurred in the protection and maintenance of said property,
including the fees of any attorney employed by the Beneficiary for the collection of any or all of the indebtedness
hereby secured, of such expenses and fees as may be incurred in any foreclosure age by the Trustee, or court pro-
ceedings or in any other litigation or proceeding affecting said property, and attorney's fees reasonably incurred
in any other way.
d. The rights created by this conveyance shall remain in full force and effect during any postponement or ex-
tension of the time of the payment of the indebtedness evidenced by said note or any part thereof secured hereby.
e. He will continuously maintain hazard insurance of such type or types and in such amounts as the Beneficiary
- " may from time to time require, on the improvements now or hereafter on said property, and will pay promptly
when due any premiums therefor. All insurance shall be carried in companies acceptable to Beneficiary and the
policies and renewals thereof shall be held by Beneficiary and-have attached thereto loss payable clauses in favor
of and in form acceptable to the Beneficiary. In the event of loss. Grantor will give immediate notice in writing
to Beneficiary and Beneficiary may make proof of loss if not made promptly by Grantor, and each insurance com-
pany concerned is hereby authorized and directed to make payment for such loss directly to Beneficiary instead
of to Grantor and Beneficiary jointly, and the insurance proceeds, or any part thereof, may be applied by Beneficiary
at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property
damaged. In the event of a Trustee's sale or other transfer of title to said property in extinguishment of the in-
debtedness secured hereby, all right, title, and Interest of the Grantor in and to any insurance policies than in force
shall pass at the option of the Beneficiary to the purchaser or Beneficiary.
A He will keep the said premises in as good order and condition as they are now and will not commit or permit
any waste thereof, reasonable wear and tear excepted, and in the event of the failure of the Grantor to keep the
buildings on said premises and those to be erected on said premises, or improvements thereon, in good repair, the
Beneficiary may make such repairs as in the Beneficiary's discretion it may deem necessary for the proper preserva-
tion thereof, and any sums paid for such repairs shall bear interest from the date of payment at the rate specified
in the note, shall be due and payable on demand and shall be fully secured by this Deed of Trust.
S. He will not without the prior written consent of the Beneficiary voluntarily create or permit to be created
against the property subject to this Deed of Trust any liens inferior or superior to the Hen of this Deed of Trust
and further that he will keep and maintain the same free from the claim of all persons supplying labor or materials
which will enter into the construction of any and all buildings now being erected or to be erected on said premises.
h. He will not rent or assign any part of the rent of said property or demolish, remove, or substantially alter
any building without the written consent of the Beneficiary.
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9. In the event the Grantor fails to pay any Federal, state, or local tax assessment, income tau or other tax Hen,
charge, fee, or other expense charged to the property heminabove described, the Beneficiary is hereby authorized to pay
the same and any sum so paid by the Beneficiary shall be added to and become a part of the principal amount of the
indebtedness evidenced by said promissory note. If the Grantor shall pay and discharge the indebtedness evidenced by
said promissory note, and shall pay such sums and shall discharge all taxes and Hens and the costs, fees, and expenses
of making, enforcing and executing this Deed of Trust, then this Deed of Trust shall be canceled and surrendered.
10. The Grantor covenants that he h lawfully seized and possessed of and has the right to sell and convey said prop-
erty; that the same is free from all encumbrances except as hereinabove recited; and that he hereby binds himself and
his successors in interest to warrant and defend the title aforesaid thereto and every part thereof against the lawful claims
of all persons whomsoever.
11. For better security of the indebtedness hereby secured the Grantor, upon the request of the Beneficiary, its auc-
cesson or assigns, shall execute and deliver a supplemental mortgage or mortgages covering any additions, improvements,
or betterments made to the property hereinabove described and all property acquired after the date hereof (all in form
satisfactory to Grantee). Furthermore, should Grantor fan to cure any default in the payment of a prior or inferior encum-
brance on the property described by this instrument, Grantor hereby agrees to permit Beneficiary to cure such default,
but Beneficiary is not obligated to do so; and such advances shall become part of the indebtedness secured by this instru-
meat, subject to the same terms and conditions.
12. That all awards of damages in connection with any condemnation for public use of or injury to any of said prop-
erty are hereby assigned and shall be paid to Beneficiary, who may apply the same to payment of the installments last
due under said note, and the Beneficiary is hereby authorized, in the name of the Grantor, to execute and deliver valid
acquittances thereof and to appeal from any such award.
13. The irrevocable right to appoint a substitute trustee or trustees is hereby expressly granted to the Beneficiary, his
successors or assigns, to be exercised at any time hereafter without notice and without spedfying any reason therefor,
by filing for record in the office where this instrument is recorded an instrument of appointment. The Grantor and the
Trustee herein named or that may hereinafter be substituted hereunder expressly waive notice of the exercise of this right
as well as any requirement or application to any court for the removal, appointment or substitution of any trustee hereunder.
14. Notice of the exercise of any option granted herein to the Beneficiary or to the holder of the note secured hereby
is not required to be given the Grantor, the Grantor having hereby waived such notice.
13. If more than one person joins in the execution of this instrument as Grantor or if anyone so joined be of the
feminine sex, the pronouns and relative words used herein sham be read as if written in the plural or feminine, respectively.
and the tam "Beneficiary" shall include any payee of the indebtedness hereby secured or any assignee or transferee thereof
whether by operation of law or otherwise. The covenants herein contained shall bind and the rights herein granted or
conveyed shall inure to the respective heirs, executors, administrators, successors, and assigns of the parties hereto.
16. In compliance with section 101.l(d) of the Rules and Regulations of the Small Business Administration [13 C.F.R.
101.1(d)j, this instrument is to be construed and enforced In accordance with applicable Federal law.
17. A judicial decree, order, or judgment holding any provision or portion of this instrument invalid or unenforceable
shall not in any way impair or preclude the enforcement of the remaining provisions or portions of this instrument.
18. In the event the herein described property or any part thereof, or any interest therein is
sold agreed to be said, conveyed. transferred, disposed of, further encumbered, or alienated by
Trustor or by the operation of law or otherwise without the written consent of Beneficiary first
obtained. all obligations secured by this instrument, irrespective of the maturity dates expressed
herein, at the option of the holder beneficiary, and without demand or notice shall immediately
become due or payable. Consent to one such transaction shall not be deemed to be a waiver of
the right to require such consent to future or successive transactions.
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IN W N W WHEnOF. the Grantor has executed this instrument and the and Bane have accepted the
delivery of this instrument as of the day and year aforesaid.
Hillto a LL , Ca forriia Limited
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Executed and delivered in the presence of the following
witnesses:
(Add Appropriate Aclmowledgment)
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State of O-~~-7CV Y-~ 472
County of / ga-0 On 23'~9S before me, C 6~/lfiL /a/1/leI' AMC.
DAT6 NAME, TITLE OF OFFICER - A., "JANE 006, NOIA PUBLIC'
personally appeared _ 1'T rt:hay u G1a cA ~1. 4,444 Lt)eK-o
NAMHIBI OP BIONBRI71
❑ personally known to me - OR - roved to me on the basis of satisfactory evidence to be the person(s) whose name(s)
is/4e ubscribed to the within Instrument and acknowledged to
me that he/she/oaexecuted the same in is/her eur
authorized capacity(tes), and that by his/her ei signature(s)
on the instrument the person(s), or the entity upon behalf of which
the person(s) acted, executed the instrument.
W NESS my h and official seat.
V LANA TANNER ~ SIDNATURHOP NUMAY
Comm. 4963597
c °O NOTARY AU(1LIC CALIFORNIA6 DESCRIPTION OF ATTACHED DOCUMENT
G :AUDILU0COUNTY
My Comm Expires May 24, /90a'L
let( o-r-
DESCRIPTION OF DOCUMENT (OPTIONAL)
State of _
County of
On before me,
DATE NAME, TITLE OF OFFICER - 8A„ "JANE 008, NOTARY PUBLIC'
personally appeared
IWI AMP P OP eIONER191
❑ personally known to me - OR - ❑ pf satisfactory evidence to be the person(s) whose name(s)
subscribed to the within instrument and acknowledged to
at he/she/they executed the same in his/her/their
ized capacity(ics), and that by his/her/their signature(s)
instrument the person(s), or the entity upon behalf of which
rson(s) acted, executed the instrument.
pSS my hand and official seal.
OF ATTACHED DOCUMENT
OI WRlrnOI/ OF DOCUMOYr IOPTIONALI
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EXHIBIT "A"
THE LAND REFERRED TO HEREIN IS SITUATED IN THE STATE OF CALIFORNIA,
COUNTY OF SAN DIEGO, AND IS DESCRIBED AS FOLLOWS:
PARCEL 1:
THAT PORTION OF LOT 19 OF RANCHO RIQUEZA, IN THE CITY OF ENCINITAS,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO.
2133, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY,
NOVEMBER 11, 1928, DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF SAID LOT 19; THENCE SOUTH
1°01'10" WEST ALONG THE EAST LINE THEREOF 292.71 FEET; THENCE NORTH
88049151" WEST 175.47 FEET; THENCE NORTH 5055138" EAST 293.70 FEET TO
THE NORTHERLY LINE OF LAND DESCRIBED IN DEED TO JOHN E. PRICE, ET UX,
RECORDED NOVEMBER 24, 1967 AS FILE NO. 184485 OF OFFICIAL RECORDS;
THENCE SOUTH 88058'10" EAST ALONG SAID NORTHERLY LINE 150.34 FEET TO
THE POINT OF BEGINNING.
PARCEL 2:
AN EASEMENT FOR ROAD AND UTILITY PURPOSES OVER, UNDER, ALONG AND
ACROSS THAT PORTION OF LOT 19 OF RANCHO RIQUEZA, IN THE CITY OF
ENCINITAS, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP
THEREOF NO. 2133, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN
DIEGO COUNTY, NOVEMBER 11, 1928, DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST WESTERLY CORNER OF SAID LOT 19; THENCE NORTHERLY
ALONG THE WESTERLY BUUND11RV OF SAT1) T,p'r J Q, A1.06 FEET TO THE
SOUTHWESTERLY CORNER OF LAND DESCRIBED IN DEED TO JOHN E. PRICE, ET
UX, RECORDED NOVEMBER 24, 1967 AS FILE NO. 184485 OF OFFICIAL RECORDS;
THENCE SOUTHEASTERLY ALONG THE SOUTHWESTERLY LINE OF SAID PRICE'S LAND
TO THE SOUTHEASTERLY CORNER OF SAID PRICE'S LAND; THENCE NORTHWESTERLY
IN A STRAIGHT LINE TO THE POINT OF BEGINNING.
EXCEPT THEREFROM THAT PORTION LYING EASTERLY OF THE WESTERLY LINE OF
THE ABOVE DESCRIBED PARCEL 1.
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AN EASEMENT FOR ROAD AND ALL UTILITY PURPOSES OVER, ALONG, UNDER AND
ACROSS A STRIP OF LAND 72.00 FEET IN WIDTH, LYING WITHIN LOT 19 OF
RANCHO RIQUEZA, IN THE CITY OF ENCINITAS, COUNTY OF SAN DIEGO, STATE
OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 2133, FILED IN THE OFFICE
OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, NOVEMBER 11, 1928, WHICH
LIES NORTHEASTERLY OF THE FOLLOWING DESCRIBED LINE:
BEGINNING AT THE MOST WESTERLY CORNER OF SAID LOT 19; THENCE
SOUTHEASTERLY IN A STRAIGHT LINE TO THE MOST SOUTHERLY CORNER OF LAND
DESCRIBED IN DEED TO JOHN E. PRICE, ET UX, RECORDED NOVEMBER 24, 1967
AS FILE NO. 184485 OF OFFICIAL RECORDS.
EXCEPT THEREFROM THAT PORTION LYING EASTERLY OF THE FOLLOWING
DESCRIBED LINES:
COMMENCING AT THE NORTHWESTERLY CORNER OF SAID LOT 19, THENCE ALONG
THE NORTHERLY BOUNDARY OF SAID LOT 19 AS FOLLOWS:
NORTH 79007'50" EAST, 210.57 FEET; AND SOUTH 88058110" EAST, 100.00
FEET TO THE TRUE POINT OF BEGINNING; THENCE LEAVING SAID BOUNDARY
SOUTHERLY, 240.00 FEET THROUGH A POINT ON THE SOUTHWESTERLY LINE OF
SAID PRICE'S LAND, DISTANT THEREON 325.00 FEET SOUTHEASTERLY FROM THE
SOUTHWESTERLY CORNER OF SAID PRICE'S LAND TO THE SOUTHWESTERLY LINE OF
THE ABOVE DESCRIBED LAND.
ALSO EXCEPT THEREFROM THAT PORTION LYING SOUTHERLY OF THE FOLLOWING
DESCRIBED LINES:
COMMENCING AT THE MOST WESTERLY CORNER OF SAID LOT 19; THENCE
NORTHERLY ALONG THE WESTERLY BOUNDARY OF SAID LOT 19, 61.06 FEET TO
THE SOUTHWESTERLY CORNER OF SAID PRICE'S LAND AND THE TRUE POINT OF
BEGINNING; THENCE SOUTHWESTERLY ALONG THE SOUTHWESTERLY LINE OF SAID
PRICE'S LAND TO THE EASTERLY LINE OF SAID LOT 19.
1 EXCEPT THEREFROM THAT PORTION LYING EASTERLY OF THE WESTERLY LINE OF
THE ABOVE DESCRIBED PARCEL 1.
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