Deed of Trust and Assignment of Rents 2001-0800170
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RECORDING REQUESTED BY . .
/ . . RECORDING REQUESTED BY: .
. COMMONWOOU.~NO TITLE COMPA~1Y 024S88noc
! # 2001-08001'{O
.' NRECORDED MAIL TO
"
NOt.} 01, 2001 ,{i- : 59 ~::)M
City of poway II11111111 OFfICIAL RECORDS
P.o. Box 789 111111111 II III Ii II SAN DIEGO COUNTY RECORDER'S OFFICE
poway, CA 92074-0789 GREGORY J. SMITH, COUNTY RECORDER
FEES: 0.00
2001.0800170 kIAY: 0
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LONG FORM DEED OF TRUST AND ASSIGNMENT OF RENTS
J;J 01 THIS FORM FURNtSBEO'BY COMMONWEALTH LAND TITLE INSURANCE COMPANY
A.PN.-.20-IDf-l:lq . ,e:::,
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This Deed or Trust, made lhis 28th day of April, 2001 between
poway Library Plaza, LLC ' herein called TRUSTOR.
whose address is 8525 Gibbs Drive, Suite 200 San Diego California 92123-1765
(number and street) (city) (slate)
Commonwealth Land Title Insurance Company herein called TRUSTEE, and
The City of poway . herein called BENEFICIAR Y
Witnesselh: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS 10 TRUSTEE [N TRUST. WITH POWER QF SALE.
that property in San Diego County California, described as:
See Exhibit "A" attached for legal description
TOGETHER WITH the rems, issues and profits thereof. SUBJECT HOWEVER, 10 the right, power and authority hereinafter given \0 and conferred upon
Beneficiary to collect and apply such rems, issues and profits.
For the Purpose or Securing: current date
1, Performance of each agreement of Trustor.herein contained. 2. Paymem of the indebtedness evidenced by one promissory nole of e*iI:6:.slMK~
and any extension or renewal thereof, in the principal, sum of$ 85 000
executed by Trustor ill favor of Beneficiary or order.
To Protect the Security of This Deed of Trust, T~ustor Agrees:
(1) To keep said properly in good condition and repair: nO! to remove or demolish any buildingthereon;,to complele or restore promptly and in good and
work.manlike mallner any building which may be construcied.-dainaged or destroyed thereon and to pay when due all claims for labor performed and materials
furnished therefor; 10 comply with all laws affecting ~aid-property or requiring any alterations orimprovelT!ents to be made thereon; not 10 commit or permit
waste thereof; not ~ocommj(, suffer or pe~mit any;act \.I'pon- ~aid properly in viol:uion of law; to cultivate. irrigate. fertilize, fumigale. prune and do all other
acts which from the characler or use of sai~ property maybe reasonably necessary. the specific enumerations hcrein not excluding the general.
(2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and wilh loss payable to Beneficiary The amount collected under any fire
or olhcr insurance policy may be applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may dclerrriine. or at option
of Beneficiary th"e emire amount so collected or any,p:utlhereof may be released 10 Trustor. Such application or release shall nOI cure or waive aily default
or notice of defaull hereunder or inv<llidate any act'done pursuanl to such notice.
(3) To appear in and defend any action or proceeding purponing 10 affecllbe security hercof or the rights or powers of Beneficiary or Truslee; and to p~y
.aU costs and expenses,.in~luding cost of evidence of title andanomey s fees ina reasonable sum. in any such action or proceeding in which Beneficiary or
Trustee may appear;andin any suil'broughl by Beneficiary 10 foreclose this Deed.
(4) To pay: allease een da.ys before delinquency all taxes nnd assessments affecting said property including a.ssessments on appurtenant water stock; when
due, all encumbrances. 'charges and liens. with hitercs!. on said properly or any part ,thereof; whieh appear to be prior or superior hereto; all costs, fees and
expenses of this Trust.
Should Truslor fajlto make .1ny payment or to do any acl as herein provided, Ihen Beneficiary orTruslee, but without obligation so todoand without notice
10 or demand upon TrUstor and without releasing TruslOr from any obligation hereof.'may: make or,do the same in such manner an~ to such extent as either
may deem necessary to protect the securilY hercof:BeneficiaryorTruslee"bcing aUlhorized to enter up~m said property for!'iUch purposes; appear in and defend
ariy action or proceeding. purporting to affei;t the security hereof or Ihe rights or powers of Beneficiary or Trustee: pay. purchase. conlest or compromis~ any
iricurribrnnce, chargeorliep which in the judgment of either appears 10 be prior or superior hereto; and, in exercising. any such powers, pay necessary expenses.
employ counsel ~nd pay his reasonable fces.
(S) To pay immediately and-without demand all sums so expended by Beneficiary or Trustee, with interes~ from date.of ex.penditu~e at the amount allowed
by law in effect anhe date hereof, and,to pay for any statement provided for, by law in effect at the date hereof regarding the obligation secured hereby any
amounl demanded by the Berie.ficiary not 10 exceed the maximum allowed by law al the time when said statement is demanded.
(6) That any a\Vard of.<iamages in connection with any condemnation for public usc of or injury to said properly or anypaTl thereofis hereby assigned and
shall be paid to Beneficiary,who may apply or release such moneys received by him in the same manner and with the same effect as'above provided for
disposition of 'proceeds of fire or other insurance.
{tJ'1 ~11PI. Y J;.
Form 3116.' (6.94) This Document provided by Commonwealth Land Title Insurance Company /~CJL./-_/r!f
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7 (7) Tharby ~;c,epting payment ahoy sum,secured hereb~ after its due date. Beneficiar.ydoes not waive nis right either to require prompt payment when
.ci~e of all C?~he~ ~.um~ so secured'or to declare default fOT failure so 10 pay. e;
(8) T~"aI-~I'any li.in~,~r. f~o!n lime_to lime. wifhotll liability therefor and without nOlice,_upon wriuen'reque:s1 of Beneficiary and pre_seRrlltion of this Deed
, !lnd said no!e fC!f endors~n1.ent;and ~ilhout affecting the personal liability of any person for payment of the indebtedness secured hereby, Trustee may: reconvey r--
any pari of sa,id pro~~t_Y;.f_ons,ent to the rI)aking_?f any map or pial-thereof; join in granting any easement thereon: or join in any extension agreement or any J
agreement subordinatifl~the lien or; charge hereof. ,
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(9) Thai upon ,wrilten requ.est ofBent~nciary stating thai all sums secured hereby have been paid;,and ilponsurrender of Ihis Deed'and said note to Trustee C
fOf cancellation ...nd'reteniion'and upon payment of ilS'fees, Trustee shall reconvey, "":itho.ut;wai1:arity the property then heldhereunder.The reciUlls in such '-
reconveyance of any mailers or fa~ts shall be conclusive proof of the Irulhfulness thereof. .The grantee in sm;h reconveyance may be destribed as 'the person
or persons legally entitled thereIO," Five'years after issuance of such full reconveyance, Trustee may destroy said nette and this Deed (unless directed in such
request to retaintherri).
(IO)Tha~ as additional security, Trustor hereby gives to l\nd confers upon Beneficiary the right, ~wer and authorilY, during the continuance ()flhese Trusts,
to colle~llhe renls"issues and profits of said properly, reserving unto Trustor the right, prior 10 any default by Trustor in payment of any inde~tedness secured
hereliy or in perf':lr'manceof any agreement hereunder~ to collect and relain such rents, issues and profits as they become due and payable. Upon any such default.
Bene(jdary iJ.lay al any time without ri'otice, eitherin'"person. by agent, or by a receiver to be appointed by a court, and wilhout regard to the adequacy of any
securilY for lIte ~~debtednesshereby secured, ernerupoii and take possession of said property or any part thereof. in his own name sue for,or otherwise collect
such renlS. issl!es and profits. illl;h.iding those pasldl.ie and unpaid, and apply the same, less cosfs and expense.~ofoperalion and collection. including reasonable
auorney ~. fees..,uppn any ~~debtcdness secu~ed hereby iand in such order as Beneficiary'maydewmine., The entering upon and taking possession of said
properly the colleclionofsuch rents. issuclS and profits and the application lhereofas aforesaid. shall nOlcureor waive any default or notice of default hereunder
or invalidale any :lCI done, pursuant 10 such notice.
(I'!) Thai UP};>1l default by Trustor in payment of~ny..indebtedness secured hereby or in performance of any agreement hereunder, Beneficiary may declare
all sums secun~d hereby immedialelydue and payableby:delivery to Trustee ofwritlendeclaralionof defo.ult and demand for sale and ofwrinen notice of default
and of election '10 cause to be sold said propert'y which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee lhis Deed,
said nole and all documeols evidencing expenditures sec'~red hereby.
Afcer lhe lapse of such time as may then be requiredbjJawfollowing the recordation of said notice ofdefauh, and notice of sale having been given as then
required by law Truslee. without demand onTrusior~:sti~11 sell said property at the time and place fixed by it in said nmice of sale. eilner as a whole or in separate
parcels, and in such order as irmay delennine. at ptitilicauct-i.on' to lhe highest bidder for cash in lawful:money of the'United Stales, payable at time ohale.
Trustee may postpone sale of all or anypetrtfon of saidpriipeny by public announcement at such time and place of sale~ and from lime to time Ihereafter may
postpone such sale by public announcement at the ,tin'ie fixed by the preceding postponement. Trustee shall deliver to such pUlchaser.its deed conveying the
property so sold. but without any covcnanl or.wa,rranty;express. or implied. The recitals in such deed of any maners or facls shall be conClusive proof of the
Irulhfulness thereof, Any person. including Trustor. Trustee, or Beneficiary as hereinafter defined. may purchase at such sale.
After deducling all COSIS, fees and expenses ofTiiist~e 3fld l?f his Trust, including cost of evidence of. litle in connection with sale, Truslee snail apply the
proceeds of sale to paymel\1 of: all sums expended undenhe termS hereof, not then repaid. with accrued',interesl al the amount allowed by law in effect al the
dale hereof: ,Ill other SlllllS Ihen secured hereby: and the'remain~er, if any 10 the person or persons legally emilled thereto,
(12) Beneficiary, or anY,S\1ccelSSor in ownership ofanyindebledness secured hereby may from time to time. by instrumenl in writing. substitule a successor
or successors to llny Trustee named herein oncting he'~ul1deJ, which instrument, executed,by the' Beneficiary and duly acknowledged and recorded in the
office of the recorder of the counly or counti~s where s~id prOperlY is silUatcd. shall be conclusive proof of proper sUbsthuJion of SUCA successor Trustee or
Truslees. w~o shall, wilhoul,convcyance fr()m (h~'Tr:llstee' predecessor. succeed to all its title. cstate,'righls,powers and duties. Said instrument must contain
the n.une of the original Trustor: Trustee and Beneficiary hereunder, the book and pag.e where Ihis Deed is recorded and the name and address of the new Trustee.
( 13) That ihis Deed applies to. inures to the benefit of. and binds all parties hereto, their. heirs, legatees, devisees. administrators. executors, successors and
assigns, The term Beneficiary shall mean {he owner,-and holder, including. pledgees. of the nole secured hereby, whelher ot not named as Beneficiary herein.
In this Deed. whenever Ihe context so requires. 1~~'R'l~sculine- gender includes the feminine and/or neuter, andlhe singular number inCludes the plural.
(.14) ThaI Trustee accepts this TrusI when lhis-Deed. duly executed and acknowledged. is made a public record as provided bylaw. Truslee is not obligated
to nOlify any party hereto of pending sale imder any ot.her Deed of Trusl or cf any action or proceeding in which Trustor, Beneficiary or Truslee shall be a
party unlessbroughl by Truslee,
The undersigned TrustOr requests thaI a copy Of any NotiCe of Default and of any Notice of Sale hereunder be mailed to him 31 his address hereinbefore
set forth.
LLC Signalure of Trustor
By
B
Slale of California )
County of SAn DI6'8 D ) 5.5.
On Aueu~+ &, CWO I .
before m'. I
--Jlll.':?I'~l1:, h..~ ..... t~. .Ra .(or proved'lo me onthe'basis of satisfactory evidence) '." -.;.;..,;;,;;.: - J
to be the pe'rson0 whos.~e.,*~re subscribed to the~:~j~.~~~",~ent and
acknowledged to me Ilia s~ executed the same i' 'r autho-
rized capacity(~. a~d:that b~ signatur~ on the instrument the - ~ . Comml5slon II 1223J93
person~, or the enlity'upon behalf of which'the personffi acted. executed the ~. Notary PubI",c - Califanla I
instrument. j San Diego Counly -
WlTN~andandoffiCI~ . _:._ _My~~~':.~~":'3!
Sign,," }11..1'f1. ( (Seal)
Form 3116-2(6-94)
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EXHIBIT "A"
. LEGAL DESCRIPTION
FOR
PARCEL 1
ALL THAT PORTION..OF THE SOUTHWEST QUARTEROF THE NORTHWEST
QUART~R OF SECTION 13, TOWNSHIP 14 SOUTH,.RANGE 2WEST, SAN
BERNARDINO BASE AND MERIDIAN. IN THE COUNTY OF SAN DIEGO, STATEOF
CALIFORNIA, ACCORDING TO OFFICIAL PLAT THEREOF, DESCRIBED AS
FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF SAID SOUTHWEST QUARTER OF
THE NORTHWEST QUARTER; THENCEALONG THE EAST LINE OFSAID
QUARTER
1 NORTH 1'40'30" EAST, 50.00 FEET TO A POINT ON THE NORTHERLY
BOUNDARY OFTHE PUBLIC ROAD KNOWNASPOWAY ROAD-R.S. 944 &
R.S. 1713-, SAID "'(DINT BEING POINT A OFTHIS DESCRIPTION; THENCE
CONTINUING ALONG SAID EAST LINE
2. NORTH 1'40'30" EAST, 340.02 FEET TO A POINT ON THE SOUTHERLY
BOUNDARY OF H,ERITAGEHILLS UNIT NO; 4, MAP NO. 6486; THENqE
ALONG SAID SOUTHERLY BOUNDARY OF HERITAGE HILLS UNIT NO.4,
MAP NO. 6486
3. NORTH 89'08'30" WEST, 23.92 FEET TO 1;HE TRUE POINT OF BEGINNING;
THENCE CONTINUING ALONG SAID SOUTHERLY BOUNDARY AND THE
SOUTHERLY BOUNDARY OF HERITAGE HILLS UNIT NO.1, MAP NO. 5934
4. NORTH 89'08'30" WEST, 458.49 FEET TO A POINT ON THE EASTERLY
BOUNDARY OFTHE PUBLIC ROAD KNOWN AS TARASCAN DRIVE;
THENCE ALONG SAID EASTERLY BOUNDARY
5, SOUTH 1'33'47" WEST,,319.76 FEET TO THE'BEGINNING OF A TANGENT
20 FOOT RADllJS.CURVE, CONCAVE NORTHEASTERLY; THENCE
SOUTHERL Y,SOUTHEASTERL Y AND EASTERLY ALONG THE ARC OF
SAID CURVE THROUGH A CENTRAL ANGLE OF90~42'17" A DISTANCE OF
31.66 FEETTO APOINT ON THE NORTHERLY BOUNDARY OF POWAY
ROAD; THENCE ALONG SAID BOUNDARY
6. SOUTH 89'08'30" EAST, 220.50 FEET TO A POINT DISTANT THEREON
NORTH 89'08'30" WEST, 241 FEET FROM SAID POINT "A", THENCE
NORTHEASTERL YIN A STRAIGHT LINE TO THE TRUE POINT OF
BEGINNING.
EXCEPTING THEREFROM THE WESTERLY 120 FEET - MEASURED ALONG THE
NORTHERLY LINE.
TljE EASTERLY LINE OF SAID WESTERLY 120 FEET BEING DRAWN PARALLEL
WITH THE MOST WESTERL YLlNE OF THE ABOVE DESCRIBED LAND AND THE
SOUTHERLY PROLONGATION THEREOF.
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024591
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EXHIBIT "A"
LEGAL DESCRIPTION
FOR
PARCEL 2
BEINGAPORTIONOF THE SOUTHWEST QUARTER OF THE NORTHWEST
QUARTER OF SECTION:13, TOWNSHIP 14 SOUTH, RANGE 2 WEST, SAN
BERNARDINO MERIDIAN, INTHE CITY OF POWAYi COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO OFFICIAL PLAT THEREOF, MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT ON THE.EASTERL Y BOUNDARY OF SAID SOUTHWEST
QUARTER OF THE NORTHWEST QUARTER, BEING AN'INTERSECTION WITH"fHE
NORTHERLY RIGHT-OF-WAY OFPOWAY ROAD, ACCORDING TO ROAD SURVEY
944; THENCE ALONG SAIDEASTERL YBOUNDARY
7. NORTH 01'40'30" EAST 60.49 FEET TO THE TRUE,POINT OF BEGINNING;
THENCE LEAVING SAID BOUNDARY
8. NORTH 88'50'38" WEST 165.04 FEET; THENCE
9. SOUTH 01 '04'39"WEST 61.34 FEET TO A POINT ON THE NORTHERLY
RIGHT-OF-WAY OF SAID POWA Y ROAD; THENCE ALONG SAID RIGHT -OF-
WAY
10. NORTH 89'08'30" WEST 76.59 FEET; THENCE LEAVING SAID RIGHT ~F-
WAY
11. NORTH 33'59'15" EAST406.01 FEET TO A POINT ON THE SOUTHERLY
BOUNDARY OF HERITAGE HILLS UNIT NO.1; THENCE ALONG SAID
BOUNDARY
12. SOUTH 89'09'49" EAST 23.92 FEET TO' APOINT ON THE EASTERLY
BOUNDARY OF SAID SOUTHWEST QUARTER OF THE NORTHWEST
QUARTER; THENCE ALONG SAID BOUNDARY
13. SOUTH 01 '41 '14" WEST 279.53 FEET TO THE TRUE POINT OF BEGINNING.
CONTAINS 0.804 ACRES, MORE OR LESS.
This dOcument Is cert~led to be a true and correct
copy of t~1 doCUment recorded 1/-/ ~;7cJcj/
as instru nt 0/ -cfOeJ/ ;Vin the office of the
Recorder of san Diegn county
COMMONWEALTH LAND TITLE CO.
n OF SAN DIEGO
By '~ice~
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