1999-95472RECORDED REQUEST OFi Y
RE( FirstAmerican Title
` CHI( SUBDIVISION MAPPING DEPT. NY AND WHEN RECORDED MAIL TO 2745-
S
(—FREDERICK MICHAEL REVA
DORIS YVONNE REVA
770 RANCHO SANTA FE ROAD
ENCINITAS, CA 92024
It
Escrow No. 8351342 -U42
Order No. 8351342 - U50
1100313 -22
DOC # 199M0 5 7L
FEB 17% 1999 12 e 15 PM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
GREGORY J. SNITHr COUNTY RECORDER
FEES: 45.00
UAY: 2
III IIIIIII 1111111111111�0'�
DEED OF TRUST WITH ASSIGNMENT OF RENTS AS ADDITIONAL SECURITY
This DEED OF TRUST,
made this
28TH day of December 11998
between
OLIVENHAIN COLONY
VII, A
CALIFORNIA LIMITED PARTNERSHIP
herein called TRUSTOR, whose address is 442 RANCHO SANTA FE ROAD, ENCINTAS, CA 92024
CHICAGO TITLE COMPANY, a California Corporation herein called TRUSTEE, and
FREDERICK MICHAEL REVA AND DORIS YVONNE REVA, TRUSTEES UNDER TRUST DATED DECEMBER 19,
1978
herein called BENEFICIARY, Trustor irrevocably grants, transfers and assigns to Trustee in Trust, with Power of Sale
that property in the city of County
California, described as:
LOT 5 OF CITY OF ENCINITAS TRACT NO. 93- 211 /ElA, IN THE CITY OF ENCINITAS, COUNTY OF
SAN DIEGO, STATE OF CALIFORNIA, ACCORDIONG TO MAP THEREOF NO. 13722 , FILED
IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, FEBRUARY 12 1999,
MORE PARTICULARLY DESCRIBED IN EXHIBIT "A" ATTACHED AND MADE A PART HEREOF
ADDITIONAL PROVISIONS EXHIBIT ATTACHED AND MADE A PART HEREOF BY REFERENCE
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 $203 , 000 . 00 with interest thereon according to the terms of a
promissory note or notes of even date herewith made by Trustor, payable to order of Beneficiary, and extensions or renewals thereof; (2) the
performance of each agreement of Trustor incorporated by reference or contained herein 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.
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Escrow No: 8351342 U42
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ADDITIONAL PROVISIONS EXHIBIT
THIS TRUST DEED IS SECOND AND SUBJECT TO DEED OF TRUST BEING RECORDED CONCURRENTLY
HEREWITH IN FAVOR OF SAN DIEGO NATIONAL BANK
SEE ATTACHED PARTIAL RELEASE AND SUBORDINATION AGREEMENT, BY REFERENCE MADE A PART
HEREOF
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P7
Escrow No: 8351342 U42
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 Act 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
Solana
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 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
COUNTY OF '3Uj%1t tq ��tt��tt ��'tt } S.S.
ICIQ
On :Mari "th 1 t `" before me,
=Aate, f�✓Qtary Public in and for said County and State, personally appeared
0L-7 Ej . Ld- ,6 flh
personally known to me (or- proved• to -me or the•basis•ofsa isfaetoryevidence)
to be the person(s) whose name(s) 14 /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 signatures) 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.
._ Jigh,-)
NOTARY'S SIGNjkTURE
DT1PG2- 08 /08 /94bk Page 2
OLIVENHAIN COLONY VII, a California
Limited Partnership
BY;— ESE / PERT ES, LLCj
BY .- --
ROBERT A. BOOKER, MEMBER
BY
BOB
G.
LUCIDO,
MEMBER
(THIS AREA FOR OFFICIAL NOTARIAL SEAL OR STAMP)
52 -8
EXHIBIT "A"
PARCEL 1:
LOT 5 OF CITY OF ENCINITAS TRACT NO. 93- 211 /EIA, IN THE CITY OF
ENCINITAS, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO
MAP THEREOF NO. 13722, FILED IN THE OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY ON FEBRUARY 12, 1999,
RESERVING THEREFROM AN EASEMENT FOR THE BENEFIT OF LOT 4 FOR
PRIVATE ROAD, PUBLIC UTILITY AND PRIVATE DRAINAGE OVER, ALONG,
UNDER AND ACROSS THAT PORTION OF LOT 5 SHOWN AND DELINEATED ON SAID
MAP AS "DOVE SONG WAY ",
RESERVING THEREFROM AN EASEMENT FOR THE BENEFIT OF LOTS 21 3 AND 41
FOR PRIVATE UTILITY AND DRAINAGE OVER, ALONG, UNDER AND ACROSS THAT
PORTION OF SAID LOT 5 SHOWN AND DELINEATED ON SAID MAP AS "PRIVATE
UTILITY EASEMENT RESERVED FOR THE BENEFIT OF LOT 411.
PARCEL 2:
AN EASEMENT FOR PRIVATE ROAD, PUBLIC UTILITY AND PRIVATE DRAINAGE,
OVER ALONG, UNDER AND ACROSS THAT OF LOT 4 OF CITY OF ENCINITAS
TRACT NO. 93- 211 /EIA, IN THE CITY OF ENCINITAS, COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 13722,
FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY ON
FEBRUARY 12, 1999, SHOWN AND DELINEATED ON SAID MAP AS "DOVE SONG
WAY ".
PARCEL 3:
AN EASEMENT FOR PRIVATE
OVER, ALONG, UNDER AND
TRACT NO. 93- 211 /EIA,
DIEGO, STATE OF CALIFO
FILED IN THE OFFICE OF
FEBRUARY 12, 1999
ROAD, PUBLIC UTILITY AND PRIVATE DRAINAGE,
ACROSS ALL OF LOT 7 OF CITY OF ENCINITAS
IN THE CITY OF ENCINITAS, COUNTY OF SAN
RNIA, ACCORDING TO MAP THEREOF NO, 13722,
THE COUNTY RECORDER OF SAN DIEGO COUNTY ON
5279
PARTIAL RELEASE AND SUBORDINATION
Supplement to Deed of Trust
This Supplement is attached to and made a part of the Deed of Trust dated December 28,
1998, between OLIVENHAIN COLONY, VII, LTD., a California limited partnership, as Trustor,
FREDERICK MICHAEL REVA and DORIS YVONNE REVA, as Beneficiary and
Chicago Title Company as Trustee, and describing certain real property
('Property ") and securing a promissory note ( "Note ") from Trustor to Beneficiary.
The Deed of Trust is hereby supplemented as follows:
Subordination.
a. Terms. Provided no notice of default has been recorded which remains
uncured, and no condition or event has occurred that would constitute a default upon the passage of
time or the giving of notice, the lien of the Deed of Trust shall be made subject and subordinate to
the lien of a Senior Deed of Trust or Deeds of Trust to secure a Senior Loan or Senior Loans made
to Trustor upon the following terms:
(i) The lender in each case shall be a bank, savings and loan or other
financial institution doing business regularly in California.
(ii) The principal amount of the Senior Loan or Senior Loans, when added
to the principal amount of the Note plus any other indebtedness secured by a lien on the Property
senior to the lien of the Deed of Trust, shall not exceed 125% of the appraised value of the Property,
5280
including completed improvements. The appraised value shall be conclusively determined by the
lending institution making the Senior Loan.
(iii) The Senior Loan documents shall require, by their terms, that all
proceeds of the Senior Loans shall be used exclusively for performing work of construction,
alteration, improvement or repair upon the Property, including the necessary related surveying,
engineering, architectural work and developer's fees. Disbursements of all Senior Loan proceeds
shall be controlled by the lender's construction loan disbursement procedures.
(iv) The outstanding principal amount of the Senior Loans shall bear
simple interest at no more than the prevailing rate for construction loans of a similar type in the San
Diego County, State of California, which may be variable.
b. Implementation. Beneficiary shall execute all documents and instruments
reasonably required to cause subordination in accordance with the provisions of the Deed of Trust
and this Supplement.
C. Default. Trustor shall perform all its obligations in connection with the Senior
Loan. Any default under the Senior Loan shall constitute a default under the Deed of Trust entitling
Beneficiary, at its option, and in addition to other remedies available to Beneficiary, to declare the
entire amount owing on the Note immediately due and payable.
2
5281
d. In connection with any subordination hereunder, Beneficiary understands and
acknowledges that:
(i) The Senior Deeds of Trust and any modifications, renewals or
extensions thereof shall unconditionally be and remain at all times a lien or charge on the Property
secured by this Deed of Trust prior and superior to the lien of this Deed of Trust.
(ii) A lender making disbursements pursuant to any Senior Loan shall be
under no obligation or duty to the Beneficiary to see to the proper application of the disbursements.
(iii) Beneficiary intentionally and unconditionally waives, relinquishes and
subordinates the lien or charge of this Deed of Trust in favor of the lien or charge of a deed of trust
upon the Property in favor of any lender made pursuant to Section 1. a. and understands that in
reliance upon and consideration of this waiver, relinquishment and subordination, specific loans and
advances may be made and specific monetary and other obligations may be entered into that would
not be made or entered into but for the reliance upon this waiver, relinquishment and subordination.
(iv) The lender shall have the right to require an endorsement to be placed
upon the Note that this Deed of Trust has by appropriate instrument been subordinated to the lien
or charge of the Senior Deeds of Trust.
e. Beneficiary specifically acknowledges that it has been fully advised by an
attorney of Beneficiary's choice in connection with the execution of this Supplement, and agrees to
the subordination of this Deed of Trust to the Senior Deed of Trust. Accordingly, Beneficiary
waives on its own behalf and on behalf of any heirs, successors, and assigns of this Deed of Trust,
5282
the Note secured hereby or any other document executed in connection with or securing the Note,
the provisions of Sections 2953.1, 2953.2, 2953.3 and 2953.4 of the Civil Code of the State of
California.
2. Parcel Maps and Development Approvals. Beneficiary consents to the recordation
of subdivision maps, lot splits, "Covenants, Conditions and Restrictions," and other documents
reasonably necessary and customary for a division of and development of the Property as two single
family residences; provided that: (i) no notice of default has been filed of record and no condition
or event has occurred which would constitute a default upon the passage of time or the giving of
notice; (ii) recordation of the maps and compliance with any conditions imposed on them shall not
reduce materially the value of the Property; and (iii) recordation of the map, or compliance with any
condition imposed on it, does not hinder or obstruct access to streets or the furnishing of utility
service to the Property. Beneficiary shall sign the Lot Split map when requested by Trustor if
required for an effective filing or governmental approval of the Lot Split.
3. Partial Release in Connection with Subdivision Mans. Provided no notice of
default has been recorded and remains of record, and no condition or event has occurred that would
constitute an uncured default upon the passage of time or the giving of notice, Beneficiary shall give
Trustor partial reconveyances, without payment, of any portion of the Property required to be
dedicated or conveyed by way of easement or fee to any public authority or public utility in
connection with the processing, approval and recordation of a subdivision map, or as a condition
upon the granting of a use permit, zoning variance or other approval to which Beneficiary is required
5283
to consent under the terms of this Supplement, or as required for access or for above or below-
ground utility lines, including water, sewer, gas, and electricity, reasonably required to serve
improvements and legal uses of the Property.
4. Procedure For Trustee Action.
a. Subject to Section 4.b, Trustee shall execute any Lot Splits or subdivision
maps within 10 days after receipt from Trustor of a written request, together with Trustor's certificate
that copies of the map and request have been delivered to Beneficiary.
b. Trustee shall not make the release if, within the 10 -day period, Trustee has received
a written notice from Beneficiary stating that Beneficiary does not consent. If Trustee does not receive
a notice of nonconsent from Beneficiary, Trustee shall be conclusively entitled to rely upon the
certificates and requests for action presented by Trustor without liability of any kind to Beneficiary.
c. Trustor shall pay, in addition to the release price, all costs of effecting the release,
including, without limitation, recording fees, document preparation fees and title or escrow company
fees.
d. Upon the recording of the partial reconveyance, Beneficiary's security interest, if any,
in any personal property on or in the released Property shall be considered fully released without further
consideration or action by Trustee or Beneficiary.
5. Arbitration. Any controversy, claim, or dispute between the parties, directly or
indirectly, concerning this Agreement or the breach hereof or the subject matter hereof, including
questions concerning the scope and applicability of this arbitration clause, shall be finally settled by
5
S284
arbitration as provided herein. In the event a dispute is to be submitted to arbitration, the dispute shall
be settled by arbitration in the City of San Diego, California, and judgment upon the award rendered may
be entered in any court having jurisdiction thereof. Except as specifically provided herein, the arbitration
shall proceed in accordance with the laws of the State of California. The party requesting arbitration shall
given a written demand for arbitration to the other party by registered or certified mail. The demand shall
set forth a statement of the nature of the dispute, the amount involved, and the remedies sought. No later
than twenty (20) calendar days after the demand for arbitration is served, the parties shall jointly select
and appoint a retired Judge of the San Diego County Superior Court to act as the arbitrator. In the event
the parties do not agree on the selection of an arbitrator, the party seeking arbitration shall apply to the
San Diego County Superior Court for the appointment of a retired Judge of the court to serve as
arbitrator. As rules for the arbitration, the arbitrator shall apply the provisions of Sections 1282 through
1284.2 of the California Code of Civil Procedure and the parties may pursue discovery in accordance
with California Code of Civil Procedure Section 1283.05. No later than ten (10) calendar days after the
arbitrator is appointed, the arbitrator shall schedule the arbitration for a hearing to commence on a
mutually convenient date. The hearing shall commence no later than one hundred twenty (120) calendar
days after the arbitrator is appointed and shall continue from day to day until completed. All discovery
shall be completed no later than the commencement of the arbitration hearing or one hundred twenty
. 5285
(120) calendar days after the date that a proper demand for arbitration is served, whichever occurs earlier,
unless upon a showing of good cause the arbitrator extends or shortens that period.
IN WITNESS WHEREOF, Trustor and Beneficiary have executed this supplement on the
same date as the date of the Deed of Trust.
TRUSTOR
OLIVENHAIN COLONY, VII, LTD.,
a California limited partnership
By: DESERT ROSE PROPERTIES, LLC,
a California limited liability company,
Its General Partner
Bv:� Oft/
Robert A. Booker
Member
By: /-
Bob G. Lucido
Member
BENEFICIARY
4 �a9,f)z �L 611'1)0VkX.(j
Gt
DORIS YVONNf REVA