Deed of Trust with Assignment of Rents 2003-0690583
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' ' , ~Ilnl~ ~ffi6f 2003-0690583
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RECORDH~G'RE@ES'fED BY AND ) JUN 11. 2003 3:15 PM
When Recorded Mail To ) OFFICIAL RECORDS
) SAN DIEIilJ 1lIIJNTVREL'lJRDER'S OFFICE
PowayRedevelopfueiit Agency ) GREGlIRV J.SIlITH, IlIIJNTV REa:JRIJER
13325 Civic Center Drive ) FEES: 0.00
Poway, California 92064 r'lllllllllllllllllllllllllllllIlllIllllllllllllllllll111111111111111111 !lAY: 2
Attn: Redevelopment Director
_ 2003;06~O.58~ __ 1
PI! 350.501./26 -.5-z.., Exempt from recording fee pursuant to Government Code Section 27383
9
Sf DEED OF TRUST WITH ASSIGNMENT OF RENTS 5
au . 4
(SHORT FORM)
NF This DEED OF TRUST WITH ASSIGNMENT OF RENTS.(this "Deed of Trust"), is 2
made as ofJune 10,2003, byPOWAY MANUFACTURED HOMECOMMUNITIES, LLC, a
California limited liabilitycompanyfTrustor"), whose addres's is 625 Broadway, Ste 611, San
Diego, CA 92101, to CHICAGO TITLE COMPANY (and"in such capacity herein called the
"Trustee"), for the benefit of the POWAYREDEVELOPMENTAGENCY, a public body,
corporate and politic (and in such capacity herein called the "Beneficiary"), having an office located
at 13325 Civic Center Drive, Poway, Calif9rnia, 92064
WITNESSETH. that Trustor grants to Trustee in Trust, with Power of Sale, that property in
the City of Poway, County of San Diego, State of California, described as:
See attached Exhibit A, incorporated herein
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 (I) payment of indebtedness '.in the principal amount of
$5,112,230,93, or such portion thereof as,may be outstanding from time to time, according to the
terms of a promissory note or notes,.datedas of June 10, 2003 (including any subsequent allonge or
endorsement to such note), mad'e,by Trustor, payable to order of Beneficiary, and extensions or
renewals thereof, and (2) the performance of each agreement of Trustor incorporated by reference or
contained herein..(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.
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 a[,'fees to perform
and be bound by each,and all ofthe tehns and provisions set forth in subdivision A, and it is mutually
agreed that each.and,all of the tehns and provisions set'forth in subdivision B of the fictitious deed of
trust recorded in Orange ,County August 17, 1964, in all other counties August 18, 1964, in the book
and at the 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-
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DOCSOC\969204v3\22345.0078
1SD4-/ q / 7b'j -/(, 03-15(.,
. . .
COUNTY ,BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE
- -
Alameda 1288 556 Kings 858 7]3 Placer 1028 379 Sierra 38 187
Alpine 3 ]30-31 Lake 437 110 Plumas 166 ]307 Siskiyou 506 762
~mador 133 4~8 Lassen J92 367 Riverside 377R 347 Solano 1287 62l
But~ ]330, 513 Los Ange]e~ 1'3878 874 Sacramento 5039 124 Sonoma 2067 427
Calaveras 185 138 Madera 911 136 San BCliito 300 405 Stanislaus 1970 56
Colusa 3:!3 391 Marin 1R49 122 S. Bernardino 6213 768 Sutter 655 5RS
Contra Costa 4684 1 Mariposa 90 453 S. Fmncisco A-804 596 Tehama 457 183
Del Norte 101 549 Mendocino 667 99 S. Joaquin 2855 281 Trinity 108 5%
EIDorado 704 635 Merced 1660 753 S. Lll,is Obispo 131] 137 Tulare 2530 108
Fresno 5052 623 Madoc 191 93 San Mateo 4778 175 Tuolumne 177 160
Glenn 469 76 Mono 69 302 SantaBarbara 2065 881 Ventura 2607 237 1
Humboldt 8U1 83 Monterey 357 239 Santa Clara, 6626 664 Yolo 769 16
Imperial 1189 701 Napa 704 742 SantaCruz 1638 607 Yuba 398 693 9
lllYO 165 672 Nevada 363 94 Shasta 800 633
Kem 3756 69U Orangt: 7182 18 San Diego 1964 ]49774 5
Series 5
shall inure to and bind the parties hereto, with respect to the property above described, Said 4
3
agreements, terms and provisions contained in said sllbdivision A and B, (identical in all
counties), areby the within reference thereto, incorporated herein and made a part of this Deed Y--
of Trust forall.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 therefor does not exceed
the maximum allowed by law
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,
TRUSTOR:
POWAY MANUFACTURED HOME
COMMUNITIES, LLC, a California limited liability
company
BY' Wakeland Housing and Development
Corporation, a California nonprofit public
benefit corporation
BY' )2~ ~SU/t
Kenneth L. Sauder, Executive Director
2
DOCSOC\969204v3122345.0078
. .. It
STATE OF CALIFORNIA )
St U ) ss,
COUNTY OF nf\ . ~~ )
On ~~ ~ \~~~, before me~\~\;~~~;~l~\\'~~NotarypubliC'
personally appeared \~Q\f\~ \~ L S\.\t~(
I
~ personally known to me q
~ 5
D proved to me on the basis of satisfactory evidence to be the person( s) whose name( s) is/are 4-
sub~cribed to the within instrument and acknowledged to me that he/she/they executed the same 3
in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the A
~ _ c. _ ,person($), oct~ upon behalf of which the person( s) acted, executed the instrument.
MlCHll lJ r'AUlJNI-rlI::11ERGOn
_ Ei Ccrrw,'ISlon Ii 1298219 z WITNESS my hand and official seal.
~ ,..: No"", ; ublle - California ~ \J ~ ~
1:: ",'I r'I"'1o Counly 1
_ _ ._~:(I' ~ 1~~res~Z:~ \ ~ ~\ \
Signature Of Notary
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent
fraudulent reattachment of this form,
CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT
o Individual
o Corporate Officer
Title(s) Title Or Type Of Document
o Partner(s) 0 Limited
o General
o Attorney-In-Fact
o Trustee(s)
o Guardian/Conservator Number Of Pages
o Other:
Signer is representing:
Name OfPeison(s) Or Entity(ies)
Date Of Documents
Signer(s) Other Than Named Above
DOCSOC\969204v3\22345,OO78
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EXHIBIT "A"
LEGAL DESCRIPTION
That Yeal property located in the State of California, County of San Diego, City of Poway, and
described as follows:
PARCEL A, 1
9
PARCEL 3 OF PARCEL MAP NO 19198, IN THE CITY OF POWAY, COUNTY OF SAN 5
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF FILED IN THE OFFICE 4
OF THE SAN DIEGO COUNTY RECORDER APRlL I, 2003.AS FILE NO 2003-0363326,
OFFICIAL RECORDS. 4
PARCEL B 1--
PARCEL 2 OF PARCEL MAP NO 16078, IN THE CITY OF POWAY, COUNTY OF SAN
DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF FILED IN THE OFFICE
OF THE SAN DIEGO COUNTY RECORDER MAY 4, 1990 AS FILE NO 90-244918, OFFICIAL
RECORDS.
A-I
DOCSOC\969204v3\22345,Om8
, . .
EXHIBIT "B"
RIDER TO DEED OF TRUST
THIS RIDER TO DEED OFTRUST is attached to and fOnTIS a part of that certain Deed of
Trust made as of June 10,2003, between POW A Y MANUFACTURED HOME
COMMUNITIES, LLC, a California limited liability company (the "Trustor"), CHICAGO TITLE
COMPANY (the "Trustee"), and the POWAY REDEVELOPMENT AGENCY, a public body, I
corporate and. politic (the "Beneficiary"). This Rider to Deed of Trust is subject to the terms and q
conditions of that certain "Promissory Note" dated June 10,2003 and incorporated herein by
reference, All terms in this Rider to Deed of Trust, ifnot.separately defined herein, shall have the 5
meanings as defined in the Promissory Note, 4
1. Subordination., ThisDeedofTrust is hereby made subject and subordinate to the ~
A
Loan Agreement.between the Trustor, the City of Po way and U.S, Bank National Association as
trustee, dated as of June 1, 2003 the promissory note executed by Trustor pursuant to the Loan
Agreement, and the deed of trust executed by Trustor in favor of the City of Po way as beneficiary,
pursuant to the Loan Agreement, andrecorded in the Official Records of San Diego County,
California as an encumbranceto the Parks,
2. No Personal Liability. In the event of any default under the terms. of the Promissory
Note or this Deed of Trust, the sole.recourse of the Beneficiary for any and all such defaults shall be
by judicial foreclosure or by the exercise of the trustee's power of sale, and Trustor and its members
shall not be personally liable for the p~yment.ofthe Promissory Note or for the payment of any
deficiency established after judicial foreclosure or trustee's sale; provided, however, that the
foregoing shall not in any way affect any rights the Beneficiary may have (as a secured party or
otherwise) hereunder or under the I'romissory Note or Deed of Trust to recover directly from Trustor
any amounts secured by the Deed of Trust, or any funds, damages or costs (including without
limitation reasonable attorneys' fees<and costs) incurred by Beneficiary as a.result of fraud,
misrepresentation or waste, and any costs and expenses incurred by the Beneficiary in connection
thereof (including without limitation reasonable attorneys' fees and costs),
IN WITNESS WHEREOF, Trustor has executed this Rider to Deed of Trust as of the date
set forth above,
POWAY MANUFACTURED HOME
COMMUNITIES; LLC, a California. limited liability
company
BY' Wakeland Housing and Development
Corporation, a California nonprofit public
benefit corporation
BY' )!~ i.~rt
Kenneth L. Sauder, Executive Director
B-1
DOCSOC\969204v3122345.0078