1995-100844PREPARED BY AND
AFTER RECORDING MAIL TO:
OFCORDING REQUESTED BY
ORANGE COAST TITLE COMPANY
SIERRA WESTERN MORTGAGE COMPANY
P.O. BOX 1900
NORTHRIDGE, CA 91328
Lill.+ tt 1 J / 5 -01 0OB44
0 —MAR -1995 08 :00 AM
OFFICIAL RECORDS
�AH DIEGO COUHTY RECORDER'S, OFFICE
GREGORY SMITH, COUNTY RECOPOER
E R17: 11.00 FEES: 25,04
AF: 13, 00
MF: L n0
SPACE ABOVE THIS LINE FOR RECORDER'S USE
COUNTY CODE: 037 Deed of Trust
OFFICE NUMBER: 93
(ADJUSTABLE INTEREST RATE)
Loan No.: 1-674836-2
Loan Amount: $249,000.00
THIS DEED OF TRUST, made this 1st day of March, 1995 between
ARTURO RODRIGUEZ, AN UNMARRIED MAN
, herein called "Trustor"
whose address is 132 DAPHNE STREET, ENCINITAS, CA 92024
CALIFORNIA RECONVEYANCE COMPANY, A California corporation, herein called "Trustee ", and
GREAT WESTERN BANK, A FEDERAL SAVINGS BANK
DOING BUSINESS AS SIERRA WESTERN MORTGAGE COMPANY
herein called "Beneficiary ". WITNESSETH: That Trustor irrevocably grants, transfers, and assigns to Trustee in trust, with power
of sale, that real property, property rights and interest in SAN DIEGO County, California, described as:
AS PER LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART
HEREOF KNOWN AS SCHEDULE 'A'.
Assessor's ID/Parcel No.:
Which has the address of 132 DAPHNE STREET
ENCINITAS California 92024
( "Property Address ")
INCLUDING all buildings, structures, improvements, appliances, equipment and appurtenances now or hereafter constructed or
placed thereon, including, but riot limited to, all apparatus and equipment, whether affixed to the land or building thereon or not
affixed thereto, whether single units or centrally controlled, used to provide or supply air - cooling, air - conditioning, heat, gas,
water, light and power, refrigeration, ventilation, laundry, clothes drying, dishwashing, garbage disposal or other services, waste
vent systems, antennas, pool equipment, window coverings, drapes and drapery rods, carpeting and floor coverings, awnings,
ranges and ovens, water heaters, attached cabinets, pumps, pipes, tanks, fire prevention, fire extinguishing and communications
apparatus, elevators, escalators, and partitions, and all of the above items are declared to be and are deemed to be things affixed
- -- to and a part of the realty for the purposes of this Deed of Trust.
- - -- TOGETHER WITH all interest which Trustor now has or may hereafter acquire in or to said property and in and to:
(a) All rents, issues, profits, royalties, tolls, earnings and incomes therefrom and installments of money payable pursuant to
any agreement for sale of said property or any part thereof, subject however to the right, power and authority given to
and conferred upon Beneficiary by Paragraph 15 below, reservinn to Trustnr the rinht to collect ;yhe, ^. d ,,e ";;d reiaiil any
of said surns prior to any event of default hereunder;
(bl All easernents, rights of way and other appurtenances thereto;
(c) All shrubs, trees and plants;
(d) All adjacent lands included in enclosure or occupied by buildings located partly on the above described property;
(e) All crops growing or to be grown on said property;
(f) All water and water rights (whether or not appurtenant) and shares of stock pertaining to water or water rights,
ownership of which affects said property;
(g) All claims, demands or causes of action of any kind, including proceeds of settlement of any such claim, demand or
cause of action of any kind, which Trustor now has or may hereafter acquire, arising out of .acquisition or ownership of
the property, subject however to the right, power and authority given to and conferred upon Beneficiary by Paragraph 5
below. Trustee shall have no duty to prosecute any such claim, demand or cause of action.
DEED OF TRUST - PAGE 1
CA012Fi06 (1161114) 01RTRI8UT10M Oriamal-Recording Copy. Cople-File, Copy-Rnnownr
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1645 1
For the purposes of this instrument, including all provisions incorporated by reference herein, all of the foregoing described Ireal .
property, property rights and interest shall be referred to as "the property ".
THIS DEED OF TRUST SECURES AN ADJUSTABLE RATE NOTE - SEE PARAGRAPH 23
THIS DEED OF TRUST IS FOR THE PURPOSE OF SECURING THE FOLLOWING:
A. Payment of the loan amount above, with interest thereon, according to the terms of a Promissory Note or Notes (herein
sometimes referred to as "the note ") of even date herewith, made by Trustur, payable to Beneficiary or order, and any and all
modifications and extensions or renewals thereof (see Paragraph 23);
B. Payment of such additional sums, with interest thereon, as may be hereafter borrowed from Beneficiary by the then record
owner or owners of the property which are hereby secured and all extensions, modifications and renewals of such additional
borrowings;
C. Payment, performance and discharge of every obligation, covenant and agreement of Trustor whether contained or
incorporated by reference in this Deed of Trust, or contained in any instrument now or hereafter executed by Trustor in
connection with the loan evidenced by the note, including but not limited to any assignment, construction loan agreement, pledge
agreement, security agreement, supplemental agreement, assignment of Lessor's interest in leases, modification agreement or
assumption agreement;
D. Payment of all sums of money with interest which may be paid out or advanced by, or may otherwise be due to Trustee or
Beneficiary under any provision of this Deed of Trust;
E. At Beneficiary's option, payment with interest thereon of any other present or future indebtedness or obligation of Trustor
(or of any successor in interest to Trustor to the property) to Beneficiary, whether created directly or acquired by assignment,
whether absolute or contingent, whether due or not, whether otherwise secured or not, or whether existing at the time of this
Deed of Trust or arising thereafter. Exercise of such option shall be evidenced by a notice in writing to Trustor or any successor in
interest to Trustor.
To Protect the Security of This Deed of Trust, Trustor Agrees:
1. PRESERVATION OF THE PROPERTY. Trustor (a) shall
keep the property in good condition and repair, (b) shall not
remove, dernolish or substantially alter any building, structure
or improvement thereon, (c) shall complete or restore
promptly and in good workmanlike manner any building which
may be constructed, damaged or destroved thereon and will
pay when due all claims for labor performed and material
furnished therefor, (d) shall comply with the provisions of all
insurance policies covering and with all laws and regulations
affecting the property or requiring any alterations, repairs or
improvements thereon, (e) shall not commit or suffer any
waste thereon, (f) shall not commit or suffer any act upon the
property in violation of any provision of any insurance policy
or law or regulation, (g) shall paint, decorate, cultivate,
irrigate, fertilize, furnigate and prune the property, and (h)
consistent with the use thereof, do all other acts which the
character or use of the property may reasonably require.
2. INSURANCE. Trustor shall, at Trustor's expense, provide
and maintain in force at all times with respect to the property,
fire, flood and other types of insurance as may be required by
Beneficiary. All of such insurance policies shall have a loss
payable endorsement in favor of Beneficiary and shall be for a
term and in form, content, amount, and with such insurance
companies, as may be satisfactory to Beneficiary. Such
policies shall be delivered to Beneficiary whether upon the
making of this Deed of Trust or at a subsequent time during
the term of the note. Trustor shall also deliver at such times
evidence that the full premium for any such policy has been
paid. Beneficiary at its option may retain possession of the
original policy or it may release it to the possession of the
Trustor. If the Beneficiary retains possession of such policies,
at least thirty (30) days before the expiration of any such
insurance policy, a policy or policies renewing, extending or
replacing such expiring insurance shall be delivered by Trustor
to Beneficiary. If any such insurance policy is not so delivered
to Beneficiary or in the event any such insurance policy is
cancelled, whether the Beneficiary has in its possession the
pulrcies or not, anc no reinstatement or replacement policy is
received prior to termination of insurance Beneficiary, without
notice to or demand upon Trustor, may (but shall not be
obligated to) obtain such insurance with such company as
Beneficiary may deem satisfactory, and pay the premium
therefor, and the amount of any premium so paid shall be
charged to and promptly paid by Trustor or at the option of
Beneficiary, may be added to the indebtedness secured
herehy.
In the event Beneficiary obtains any such insurance
policy, Trustor, for his own benefit and for the protection of
this equity interest in the property, hereby requests and
authorizes Beneficiary, but without liability on the part of
Beneficiary for failure so to do, to obtain such policy for such
term and in such form, content and amount and with such
insurance comnanies as may he satisfartnry to Reneficiarv,
Should any policy thus obtained by Beneficiary thereafter be
cancelled, Trustor shall pay to Beneficiary any earned
premiums on said policy and a reasonable charge for its
services in obtaining such policy.
Neither Trustee nor Beneficiary shall be responsible for
the collection of any insurance monies, or for any insolvency
of any insurer or insurance underwriter. The right to any
unearned premiums under said insurance policies is hereby
assigned and shall pass to the purchaser of the property
conveyed at any Trustee's sale held or to the grantee of a
deed in lieu of foreclosure if such a conveyance is made. Any
part or all of the amount collected under any fire or other
insurance policy may be applied by Beneficiary upon any
indebtedness secured by this Deed of Trust at such time and
in the manner and amount as Beneficiary may determine, or at
the option of Beneficiary, without reducing the indebtedness
secured hereby, may either be used to replace, restore or
reconstruct the property to a condition satisfactory to
Beneficiary or be released to Trustor. Any application, use or
release shall not cure or waive any default or notice of default
hereunder or invalidate any act done pursuant to such notice.
Trustor shall pay Beneficiary inspection fees and other costs
resulting from or connected with the casualty loss to which
such insurance relates.
3. LIFE, ACCIDENT OR HEALTH INSURANCE. If Trustor
shall assign or deliver a policy of lite, accident or health
insurance to Beneficiary as further security hereunder, then if
Trustor fails to pay any prernium thereon, Beneficiary shall be
entitled, but not obligated, to pay any such premium. Any
amount so paid shall be charged to and promptly paid by
Trustor or, at the option of Beneficiary, may be added to the
inoebtedness secured hereby.
4. TAXES AND ENCUMBRANCES. Trustor shall pay (a)
at least twenty (20) days before delinquency, all general and
special taxes and assessments now or hereafter affecting the
property, including any assessments on appurtenant water
stock; (b) when due, all special assessments for public
improvements without permitting any improvement bond to
issue for any special assessment; (c) on demand of
Beneficiary, all encumbrances, charges and liens on the
DEED OF TRUST - PAGE 2
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property or any part thereref, which are or may be prior or
superior hereto; (d) when due, all fees and charges incidental
to ownership, occupancy or beneficial use of the property;
and (e) if the property includes a condominium, community
apartment or part of a planned development, all payments
required of the owner thereof under any declaration of
covenants or conditions or restrictions pertaining to such
project. Should Trustor fail to make any payment under this
Paragraph 4, Beneficiary may, but shall not be obligated to,
make such payment and any amount so paid shall be charged
to and promptly paid by Trustor or, at the option of
Beneficiary, shall be added to the indebtedness secured
hereby, without regard to the validity or legality of such
assessments, liens or charges.
5. CLAIMS, DEMANDS AND ACTIONS. Trustor shall
(a) appear in and defend any action or proceeding purporting
to affect the security hereof or the rights or powers of
Beneficiary or Trustee; (b) at the option of Beneficiary, assign
to Beneficiary, to the extent of Beneficiary's interest, any
claims, demands or causes of action of any kind, including
any award, court judgment or proceeds of settlement of any
such claim, demand or cause of action of any kind which
trustor Trustor now has or may hereafter acquire arising out
of acquisition or ownership of the property. Without limiting
the generality of the foregoing, any such claim, demand or
cause of action arising out of acquisition or ownership of the
property may include (i) any such injury or damage to the
property or any structure or improvement situated thereon, or
60 am+ rlaim or rausP of artinn in favor of Tmgtnr which shall
have arisen out of the transaction financed in whole or in part
by the making of the loan secured hereby, or (iii) any claim or
cause of action in favor of Trustor (except for bodily injury)
which arises as a result of any negligent or improper
construction, installation or repair of the property, including
the surface or subsurface thereof, or of any building or
structure thereon. Beneficiary may apply, use or release such
monies so received by it in the same manner as Paragraph 2
provided for the proceeds of fire or other insurance.
6. DEFENDING TRUST. Notwithstanding the provisions
of Paragraph 5, Beneficiary or Trustee may (a) commence and
prosecute or appear in and defend any action or proceeding
purporting to affect the security hereof or the rights or powers
of Beneficiary or Trustee; (b) pay, purchase, contest or
compromise any encumbrance, charge or lien which in the
judgment of either appear to be prior or superior hereto; and
(c) in exercising any such right, incur any liability and expend
whatever amounts either deems reasonably necessary,
including cost of evidence of title and reasonable attorneys'
fees.
7. PROTECTION OF SECURITY BY BENEFICIARY OR
TRUSTEE. Should Trustor fail to make any payment or do any
act provided in this Deed of Trust, 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 any such payment or
do any such art in such manner and to such extent as either
deems necessary to protect the security hereof. Beneficiary or
Trustee is authorized to enter upon the property at any time
for such purpose.
S. REIMBURSEMENT, Trustor shall pay immediately
upon demand all costs, fees or expenses incurred and sums
expended or advanced under the terms of this Deed of Trust
by Beneficiary or Trustee, with interest thereon at a rate equal
to the rate provided for in the note secured hereby, and the
obligation of Trustor to pay such sums and interest as
aforesaid shall be secured hereby. If Beneficiary or Trustee
shall make such payment or expend such sums, Trustor shall
pay a service charge in an amount equal to ten per cent
(101%x) of the payment made or the sum expended.
1646 Loan No.: 1-674836-2
9. LEASEHOLD ESTATES. If the security for this Deed
of Trust is a leasehold estate, Trustor shall not modify or
terminate the lease or leases creating the leasehold estate,
and shall comply with all of the covenants and conditions
required of the Lessee or his successor in interest to be
performed under the lease or leases creating said leasehold
estate, including but not limited to paying when due rent and
other charges imposed upon such Lessee.
10. IMPOUND ACCOUNT. Trustor shall pay to
Beneficiary, if Beneficiary shall so demand, in addition to any
other payment required hereunder, monthly installments for
the purpose of creating and maintaining a fund to provide
payment when due of any taxes, encumbrances,
assessments, leasehold payments relating to the property,
premiums for any policies of insurance insuring the property,
the Trustor or the loan, more specifically referred to in
Paragraphs 2, 3, 4 and 9. Trustor shall deliver promptly to
Beneficiary all bills and notices thereof. Said installments shall
be in such amounts as Beneficiary shall estimate from time to
time to be necessary to provide sufficient monies in said fund
to pay such taxes, encumbrances, assessments, leasehold
payments and premiums when they become due and shall be
payable concurrently with the installment under the note. If
the amounts paid to Beneficiary under the provisions of this
paragraph are insufficient to pay such taxes, assessments,
leasehold payments and premiums as they become due,
Trustor shall pay to Beneficiary promptly upon demand the
amount of the deficiency.
In the Pvent of rlPfanit of any obligation hPrPby sPrurPd.
then any funds in the possession of Beneficiary under the
provisions of this paragraph may, at the option of Beneficiary,
be applied upon any indebtedness secured hereby.
11. FINANCIAL STATEMENTS. Within thirty (30) days
after written demand by Beneficiary (but not more frequently
than semi - annually), Trustor shall deliver to Beneficiary
verified financial statements, prepared in accordance with
acceptable accounting practices, for such annual or other
period as Beneficiary may designate. Such financial
statements shall include balance sheets, operating
statements, and statements of sources and application of
funds. In addition, Trustor shall deliver to Beneficiary on
dernand, copies of all leases, agreements, vouchers, receipts
and other documents supporting any of the items shown in
such statements. Trustor shall keep and maintain a full and
accurate set of books and records showing all the matters
above specified, and shall permit Beneficiary at any time to
i aspect and audit all Trustor's books of account, records, and
papers relating to any of the foregoing matters. In the event
any such audit is caused to be made by Beneficiary by reason
of the failure of Trustor to comply with any of the foregoing
provisions, then Trustor shall pay to Beneficiary upon dernand
all expenses incurred by Beneficiary in connection with such
audit.
None of the provisions of this Paragraph 11 shall be
applicable so long as the property is residential in nature and
designed for occupancy by less than five (5) families.
12. DAMAGE TO OR CONDEMNATION OF PROPERTY.
Any award of damages or compensation for injury to, or in
connection with any condemnation for public use of the
property or any part thereof, or any oroceeds of anv
settlement with respect to a condemnation whether or not
eminent domain proceedings have been instituted, shall be
and is hereby assigned by Trustor and shall be paid to
Beneficiary, who may apply, use or release the amount
thereof in the same manner as Paragraph 2 provided for the
proceeds of fire or other insurance.
13. BENEFICIARY'S CONSENT REQUIRED. Beneficiary
may declare all surns secured hereby immediately due and
payable within 30 days after such declaration except as
DEED OF TRUST - PAGE 3
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1647
expressly limited by law, if Trustor, without Beneficiary's
prior written consent: (a) sells, conveys, contracts to sell,
alienates or further encumbers all or any part of the property;
or (b) leases all or any part of the property for a teen,
together with all exercisable options, of 5 years or more, �r
(c) suffers the title or any interest in the secured property to
be divested, whether voluntarily or involuntarily; or (d)
changes or permits to be changed the character or use of the
property; or (e) is a partnership and any of the general
partners' interests are transferred or assigned, whether
voluntarily or involuntarily; or (f) is a corporation with fewer
than 100 stock holders at the date of execution of this Deed
of Trust and more than 10% of its capital stock is sold,
transferred or assigned during a 12 -month period.
14. NO WAIVER. Trustee or Beneficiary by accepting
payment of any sum secured hereby after its due date, or by
making payment or taking any action which, under the
provisions hereof either Trustee or Beneficiary is entitled but
not obligated to make or take, or by forbearing from enforcing
any of its rights, shall not be deemed to have waived its right
to require payment from or action by Trustor and to declare a
default for Trustor's failure to do so.
In the event either Trustee or Beneficiary should
expressly waive any rights under any provisions of this Deed
of Trust, such waiver shall not be deemed a waiver of any
rights Trustee or Beneficiary may have subsequently to
require payment from or action by Trustor and declare a
default for Trustor's failure to do so.
15. ASSIGNMENT. Trustor hereby assigns and transfers
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rents, issues, profits, royalties, tolls, earnings and income of
the property including those arising by reason of any oil, gas
or mineral lease thereof, and all installments of money
payable pursuant to any contract of sale or lease relating to
the property or any part thereof (hereinafter referred to
collectively as "income "), together with the right, power and
authority to collect and retain all such income as it becomes
due and payable. All income received by Beneficiary through
the exercise of the foregoing assignment, less all expenses,
(including reasonable attorneys' fees) incurred by Beneficiary
in collecting such income shall be applied by Beneficiary on
any indebtedness secured by this Deed of Trust at such time
and in the manner and amount as Beneficiary may determine.
Without limiting the generality of the foregoing, such
application may include payment of periodic installments of
principal and interest, or reduction of the principal balance or
reirnbursement to Beneficiary as provided in Paragraph 8. The
foregoing assignment is intended as an assignment to take
effect only upon a default by Trustor in any of Trustor's
obligations under this Deed of Trust, and Trustor accordingly
reserves the right, prior to any such default, to collect and
retain all such income as it becomes due and payable,
16. DEFAULT BY TRUSTOR. Upon default by Trustor in
payment of any indebtedness secured, or in the performance
of any obligation imposed upon Trustor, by this Deed of Trust,
Beneficiary may, without notice and irrespective of whether
declaration of default has been delivered to Trustee and
without regard to the adequacy of the security for the
indebtedness secured hereby either personally or by attorney
or agent, without bringing any action or proceeding, without
entering into possession of the property. or by receiver to he
appointed by a court: (a) enter into possession and hold,
occupy, possess and enjoy the property; (b) make, cancel,
enforce, modify or terminate leases; (c) obtain and eject
tenants; (d) set or modify rents; (e) take, receive and collect
all or any part of the rents, issues, profits, royalties, tolls,
earnings, income and installments (hereinafter referred to
collectively as "income ") as it becomes due and payable,
After paying such costs of maintenance and operation of the
property as it in its judgement may deem proper, Beneficiary
may apply the balance upon the entire indebtedness then
secured hereby. The acceptance of such income shall not
constitute a waiver of any other right which Trustee or
Beneficiary may have under this Deed of Trust or under the
laws of California. The receipt and application by Beneficiary
of sunh income pursuant thereto, after execution and delivery
of declaration of detauit and demand for sale or during the
pendency of a Trustee's sale proceeding hereunder, shall not
cure any breach or default, nor affect said sale proceeding or
any sale made pursuant thereto, but such income, less all
costs of operation and maintenance, when received by
Beneficiary, shall be applied in reduction of the entire
indebtedness from time to time secured hereby. Trustor shall
not in any manner obstruct or interfere with any of
Beneficiary's rights under this Paragraph 16. In the event
Beneficiary acts under the provisions of this Paragraph 16,
Trustor shall pay a service charge in an amount equal to five
percent 15 %) of all income collected by Beneficiary,
17. TRUSTEE AUTHORIZED. Upon written request of
Beneficiary and presentation of this Deed of Trust and the
note secured hereby for endorsement, and without affecting
the liability of any person for payment of the indebtedness
secured hereby, Trustee may (a) reconvey any part of the
property; (b) execute the title sheet of any map, plat or record
of survey thereof; (c) join in granting any easement thereon;
or (d) join in any agreement modifying the terms hereof or
subordinating the lien or charge hereof. Trustor shall pay to
Beneficiary and Trustee a reasonable service charge for any
such action.
18. RECONVEYANCE. Upon written request of
vv,wui.wty 3,1u UiiQil jWi'ciiuc, u, uuJ ilcou UA Ttuai m,u it ,c
note secured hereby to Trustee for retention, and upon
payment of its fees, Trustee shall reconvey, without
warranty, the property then held hereunder. The recitals in
such reconveyance of any matters of fact shall be conclusive
proof of the truth thereof. The grantee in such reconveyance
may be described as "the person or persons legally entitled
thereto ". Five (5) years after the date of such reconveyance,
Trustee may destroy the Deed of Trust and note, without
liability.
Notwithstanding anything set forth herein, Trustee may,
in its discretion, deliver said note or Deed of Trust or both to
the person entitled thereto.
19. FEES. Trustor shall pay to Beneficiary the maximum
amount as may from time to time be permitted by law for
furnishing in connection with the obligations secured hereby,
each statement pursuant to any statute at the time then in
force. Additionally, Trustor shall pay Beneficiary's and
Trustee's fees, charges and expenses for any other
statement, information or services furnished by Beneficiary or
Trustee in connection with the obligations secured hereby.
Said services may include, but shall not be limited to, the
processing by Beneficiary or Trustee, or both, of assumptions,
substitutions, modifications, extensions, renewals,
subordinations, rescissions, changes of owner, recordation of
map, plat or record of survey, grants of easernents, and full
and partial reconveyances, and the obtaining by Beneficiary of
any policies of insurance pursuant to any of the provisions
contained in this Deed of Trust.
20. SALE BY TRUSTEE. Upon default by Trustor in
payment of any indebtedness, or performance of any
ohlioation secured by this Deed of Tnist Renefir.iwv in
addition to any other remedy of process available to
Beneficiary, may declare all sums secured by this Deed of
Trust immediately due and payable by delivering to Trustee a
written declaration of default and causing to be filed for
record a written notice of default and election to sell, and
shall deposit with Trustee this Deed of Trust and any note or
other evidence of indebtedness secured by this Deed of Trust
and all documents evidencing expenditures secured hereby.
After the lapse of such time as may be required by law
following the filing for record of said notice of default, and
DEED OF TRUST _ PAGE 4
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after giving all such notice as may be required by law,
Trustee, without demand on Trustor, may sell the property,
either as a whole or in separate parcels, and in such order as
it may determine, by public auction to the highest bidder for
cash in lawful money of the United States, payable at time of
sale, or for the equivalent of cash, as so determined by
Trustee in its sole discretion. If the indebtedness secured
hereunder is additionally secured by real property which is not
subject to this Deed of Trust, Trustee may sell any property
so given as security for Trustor's obligation, which it is
authorized to sell, either in whole or in separate parcels and in
such order as it may determine.
Trustee may postpone sale of all or any portion of the
property by public announcement at the time and place fixed
for such sale, and from time to time thereafter may postpone
such sale by public announcement at the time fixed by the
preceding postponement. Following sale, Trustee shall deliver
to the purchaser its deed conveying the property so sold, but
without any covenant or warranty, express or implied. The
recital in such deed of any matters of fact shall be conclusive
proof of the truth thereof. Any person, including Trustor,
Trustee and Beneficiary 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 the
sale and reasonable attorneys' fees, Trustee shall apply the
proceeds of sale to payment, first, of all sums expended
under the terms of this Deed of Trust, not then repaid, with
accrues interest at the rate specmea in the note securea by
this Deed of Trust, and then to all other sums secured by this
Deed of Trust, and, if there be any proceeds remaining, shall
distribute them to the person or persons legally entitled
thereto, upon proof of entitlement being submitted to Trustee.
21. WAIVER OF STATUTE OF LIMITATIONS. Trustor
hereby waives, to the fullest extent permissible by law, the
statute of limitations as a defense to any demand or
obligations secured by this Deed of Trust.
22. SUBSTITUTION OF TRUSTEE. Beneficiary may, from
time to time, by instrument in writing, substitute a successor
or successors to any Trustee named herein or action
hereunder, which instrument, executed and acknowledged by
Beneficiary and recorded in the office of the Recorder of the
county or counties where the property is situated, shall be
conclusive proof of the proper substitution of such successor
Trustee or Trustees, who shall, without conveyance, succeed
to all the title, estate, rights, powers and duties of the
predecessor Trustee. Said instrument shall contain the name
and address of the new Trustee. If notice of default shall have
been recorded, this power of substitution may not be
exercised unless the then acting Trustee signs an
endorsement on such instrument of substitution to the effect
that all costs, fees and expenses due to such Trustee have
been paid or satisfied.
23. ADJUSTABLE MORTGAGE LOAN. The note secured
by this Deed of Trust contains provisions which may result in
increases in the interest rate, in the monthly installments, and
in the unpaid principal balance. Reference is hereby made to
the Promissory Note for the specific provisions relating to
such increases.
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or permit the presence, use, disposal, storage, or release of
any Hazardous Substances on or in the Property. Trustor shall
1648 Loan No.: 1- 674836 -2
not do, nor allow anyone else to do, anything affecting the
Property that is in violation of any Environmental Law. The
preceding two sentences shall not apply to the presence, use,
or storage on the Property of small quantities of Hazardous
Substances that are generally recognized to be appropriate to
normal residential uses and to maintenance of the Property.
Trustor shall promptly give Beneficiary written notice of
any investigation, claim, demand, lawsuit or other action by
any governmental or regulatory agency or private party
involving the Property and any Hazardous Substance or
Environmental Law of which Trustor has actual knowledge. If
Trustor learns, or is notified by any governmental or
regulatory authority, that any removal or other remediation of
any Hazardous Substance affecting the Property is necessary,
Trustor shall promptly take all necessary remedial actions in
accordance with Environmental Law.
As used in this Paragraph 24, "Hazardous Substances"
are those substances defined as toxic or hazardous
substances by Environmental Law and the following
substances: gasoline, kerosene, other flammable or toxic
petroleum products, toxic pesticides and herbicides, volatile
solvents, materials containing asbestos or formaldehyde, and
radioactive materials. As used in this Paragraph 24,
"Environmental Law" means federal laws and laws of the
jurisdiction where the Property is located that relate to health,
safety or environmental protection,
25. OCCUPANCY AGREEMENT. If Trustor was required
to execute an Occupancy Agreemeni as a cuudo6un iw
obtaining the loan secured by this Deed of Trust, the terms of
the Occupancy Agreement, including the provisions which
make a violation of its terms an event of default under this
Deed of Trust, are incorporated herein by this reference.
26. GENERAL PROVISIONS.
A. The term "Trustor" shall mean all parties executing
this Deed of Trust as Trustor, their respective heirs, legatees,
devisees, administrators, executors, successors in interest
and assigns, provided that Beneficiary shall not be obligated
to give Notice of Default or Notice of Sale hereunder to any
Trustor other than as shown on the face page hereof.
B. The term "Beneficiary" shall mean the owner and
holder (including a pledgee) of the note secured hereby,
whether or not named as Beneficiary herein.
C. Every provision of this Deed of Trust imposing upon
Trustor an obligation to perform an act, or embodying an
agreement by Trustor to perform an act, shall be construed as
obligating Trustor to pay all costs and expenses relating
thereto.
D. In the event any provision hereof shall be declared
invalid or unenforceable through a final judgment in a court
having competent jurisdiction, the validity or enforceability of
any of the remaining teens hereof shall not be thereby
impaired.
E. In this Dead of Trust, wherever the context so
requires, the masculine gender includes the feminine and
neuter, the singular number includes the plural, and vice
versa, and if more than one person is named as Trustor, the
obligations of Trustor shall be the joint and several obligations
of each person.
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convenience only and are not a part of this agreement and
shall not be used in construing it.
GEED OF TRUST PAGE 6
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The undersigned Trustor(s) request(s) that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to
each Trustor named on the face page hereof, at the address set forth thereon.
N01 -ICE TO B09ROWER: THIS DOCUMENT CONTAINS PROVISIONS FOR AN ADJUSTABLE INTEREST RATE AND CONTAINS
PROVISIONS WHICH MAY REQUIRE A BALLOON PAYMENT AT MATURITY.
[Space Below This Line For Acknowledgment]
State of California
County of SAN DIEGO
On before me, JUDY TXONARTI
persona y appe re ARTURO RODRIGUEZ
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.
Signature cZ�C i
ESCROW OR LOAN N0.
TITLE ORDER NO.
JUDITH LEONARD v
Ccnirn' 4$ 1020558
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Deed ®f Trust
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DEED OF TRUST - PAGE 6
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Mortgage Company
LOAN NUMBER: 1- 674836 -2
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1050
LEGAL DESCRIPTION ATTACHMENT
THE WESTERLY 50 FEET OF LOT 3 IN BLOCK 10 OF SOUTH COAST PARK UNIT NO, 21 IN THE CITY
OF ENC=TAS, COUNTY OF SAN DIEM, STATE OF CALIFORNIA, ACCORD= TO MAP THEREOF NO.
1859, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COL=, SEPTEMBER 21,
1925,
EXCESTmr, THEREFRa4 THE NORTHERLY 100 FEET THEREfOF.
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