Deed of Trust and Assignment of Rents 2001-0800169
,. . DOC~
R'i:COr.mNG'REQUESTED,BY . 024582 2001-0800169
ANDWHEN RECORDED MAIL TO
. . -
NO\.) 01. 2001 4:59 PM
OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
POWAY REDEVELOPMENT AGENCY GREGORV J. SMITH, COUNTY RECORDER
FEES: 0.00
POBOX 789 l1l1V: 2
POWAY, CALIFORNIA 92074-07S9 11/1/11111111 11/111111111111 1111111~ Il 11/1111111111111111111
f~f
oW0<
2001.08001 ag
APN NO. ..
SHORT FORM DEED OFTRUST AND ASSIGNMENT OF RENTS
ThlsDeedofTrust, made thIS nli?/H day of Oc-tOBG;C. ,.20()1, between Poway Library Plaza, LLC, herein
called Trustor, whose address is 13132-13192'Poway Road, Poway, California, Commonwealth Land TRle Insurance
Company, herein called Trustee, and Thepoway Redevelopment Agency, Ilerein called Beneficiary;
Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS TO TRUSTEE IN TRUST, WITH
POWER OF SALE, that property located 8t.13132-13192 poway Road, Poway, San Diego County, California, described on
Exhibit "A" attached hereto,
TO~ETHER WITH the rElnts, issues and proflls thereof, SUBJECT, HOWEVE~,tothe right, power and authority given to
and conferred upon Beneficiary by paragraph (10) of the provisions incorporated herein by reference to collect and apply
such rents, issues and profrts.
For the Purpose of Securing: 1 Performance of each agreement of Trustor incorporated by reference or contained
herein. 2. Payment of that certain indebtedness'evidenced by one promissorYinote.dated August 28,2001, and any
eJ<lension or renewal thereof, in the principal sum of $900,000.00 executed byTrustorin favor of Beneficiary or order 3.
Payment of such.further sums.as,the th'enrecord owner of said property may borrow from Beneficiary, when evidenced by
another note (or notes) reciting it is so secured.
To Protect the Security of This Deed of Trust, Trustor Agrees: By the execution and delivery ofthisDeed of Trust
and the rate secured hereby, that provisions (l)to (14), inclusive, of the fictitioLJs deed of trust recorded October 23,
1961 ,in the.book and at the page of Official iRe cords in the office of the county recorder of the county where said
property is located, noted below opposite the name of such county, viz.,
,cum DATE 'BOOK PAGE OO<MY DATE 800K PAGE OO<MY DATE BOOK PAGE COl...MY DATE BOOK '''E
IMPERIAL 9/10168 1267 574 ORANGE 916168 8714147 SAN BERNARDINO 916198 7090' 14 SANTA BARBARA 916168 2244 022
KERN 9/6168 4195 363 VENTURA 916168, 3363' 64 SAN LUIS OBISPO 9/10/68 1489 429 LOS ANGELES B12Ml8 T5010 &42
RIVERSIDE 9/10168 ACCOUNT = 67097YEAR 1968 SAN D!EGO 91101S8 SERIES 9 BOOK 1968 PAGE 155820
(which provisions. identical in all counties, are, printed on the reverse hereof)herebyilre adopted and incorporated herein
and made a part hereof as fully as though selJorth herein at length; that hewill observe and perform said provisions; and
that the references to property, obligations, and'parties in said provisions shall be construed to refer to the property,
obligations, and parties set forth in this Deed of Trust
The undersigned Trustor requests that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to
the address hereinbefore set forth.
See additional terms and conditions ~RY:,^U.C ,
attached hereto and made a part
hereof marked Exhibit IIBI!. '. 7?~-~
Tim Meissner, Managing Member
By:
By:
( ~C17r7}1.GI Of-Iff ktli/~C~PI _ / C!c'lV
I :x,L/ -f Cj 3 {sf!-
. . .
024,583
.
.
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
On ~~,..2?~, 2001, before me, the undersigned, personally appeared Tim MeisSner,JleRlQRally
. ~nnwn tnrna(orproved tomeon the basii;:of:satisfactory evidence) to bethe'personwhose name is subscribed to the
wtthin,instrument imd acknowledged to me.lhat:he elCl!cuted .lhe same in his'autho'rizedcapactty, and that by his signature
on the instrument the person, or the entttyupon behalf of which the person acted, elCl!cuted the instrument.
WITNESS my hand and official seal.
Signature 'r:;;'"""-"--'~-w"",,,,,,,,,~-"I
.@ ~,~"^~ ,""^CO", I
_ " CommlSS:on '" 1186530
~, ~ I NotaryPublic.-Galifomia ~
~. Son Diego County f
~ _ _ ~~~~.:~~J~l~:~
STATE OF.CALlFORNIA )
COUNTY OF SAN DIEGO ) ss.
On . ,2001, before me, the undersigned, personally appeared Neal Hoobennan, personally
known to me (or proved to meon the basi~ cif,satisfactory evidence) to bethe:personwhose name is subscribed to the
wtthin instrument and acknowledged to mettiat tie executed the same in'hjS'authoriZedcapactty, and that by his signature
on the instrument the person, or the enttty upon behalf of which the person acted, elCl!cuted the instrument.
WITNESS my hand and official seal.
Signature
Notary Public for said County and State
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss,
On ~~ ~ ~001, before me, the undersigned,personally appeared Nick,Psyllos, personally
known to me er Jlr~~il,tlll"~ 8R lR€ liasisiifsal;"f.lctiirye'Qd6J!C8) to bethe.perSon whose name is subscribed to the
wtthin instrument ,and acknowledged tome:that he executed the same in his authorized capactty;and thatby his signature
on the instrument the person, or the enttty upon behalf of which the person acted, executed the instrument.
WITNESS my hand and official seal.
Signature ~ l'/f'(Rp J- - - - - - - - - - - -
for said County and State . ,,"",","",",'~ f
_. Commission'" lIl16530
l' Notary Public - CollIanIa f
! ~ Diego CounIy -
- - - ~:':.'~~~I:~:~f
"
, . 024.4
"
DO NOT RECORD
; The following iu copy of provisions (1)10 (14), inclusive, of the fietitiou5 deed oftnJst.'rec:orded in each county in Califoniia, ..stated inthefofegoing 0Md oITJUStandl~byf8fentncein
- Nid Deed of,TNst a. being. pIIrtthefeof.. it set forth lit length therein
To ProtecttheSecurity of. This Deed of Trust,. Trustor.Agrees:
(1);To keep said prtlperty in good cond_itiOn and repair, not 10 femoWt or demolish .n~ bujldin~, to complete Of restore =v and in~ and v.u1unanllke manner any building which may be
constructed, damaged or destro;'8d tMreon and to pay when due all claims fof boI' pe and materials tumi&hed ,to com y with all laws affecti~ic1 property or requiring any
Illterations Of imf)rOYefMnts to be made thereon, not 10 commit or l*l'nit waste~. not to commit. suftefor~.n)',~ upon lNI!id ptOpeItyif! ~ d to cultMte, img.te, fettilize,
_.~. fumigate, prune end do all other acts which from the character or use of said pI"Operty may be reasona y necessary, the specific enumeration. tMtnlin not exdudtng fM general
'(2) To,prcMde maintain and deliw1rlO Beneficiary tire inSlJral'lCe aatistactol'y 10 ancl with Iou payable to Beneficiary.. ,The amount collected under anyfireorotnertnsurllnc8 poliCy may be applied by
Ber.eficl8ry upon indebtedneu secured hereby, and In such order as Beneficiary may determine, or at option of Beneficiary the entire alT'lOlJnt so coIlectad or IIny part tnereof may be ,..... to Trustor.
.- _' Such application or release shall not cure or waive any default Of notice of def8ult I'lereunder or invalidate ant; IlCt done pursuant to SldI notice .'
(3) To appear in and defend any action Ol';proceeding purporting Il:l alfectthe security hereof or the rights Of poweraof Beneficiary 01 1'U5tN, and to pay all ~ and ~ including cost of
e\/ldenee ofb and IIttomey'S ten In a reasonable sum,'in any.aucn aetion.Of proceecllng in which B&neficiaryor,Trustee mayaP9Ollr, and in any suit ~ht_by BenefIciary to forec:toM ItM Deed
(4) To pay at least ten days before d&linquency all taxes ancl assessments affecting said property, including assessments on ap~rtenant water stock,' 'Nhen ue, a" encumbrances, chllrgn and liens,
with intel1t5t, on said property_or any partthereot, which appear to be prior OfSlJperior herem;'al costJ;;tees and expenses of this ,Trust
$houldTrustor fail to make any p1Iyment or to do ank:ct as herem prcMded; then Beneficiary or TIUItel!l, but without obIi~ation so to do and without notice to or demand upon Trustor and 'OIIIithout
releasing Truslol' from any obHgation hereof, may ma or do the same in such manner and to such extent as either ma~ eem neoesury to protect the security hereof Benefk:iary or Trustee being
alJthonzed to enter upon said ptOperty for such purposes: appear in and defend ~_ action or ,proceeding purportinq to a ect the security I'Iefeof Of the rights or ~ of Beneficiary or Trustee, pay,
purchase, contest or compromise any encumbrance, charge or hen which in the j gmen! of either appearato be ~ or superior hereto, ancl in Rercising any such powers, pay neceuary eocpenMI,
employcounsei and pay his reasona fees.~
(5) To pay immediatelY,and without demand all sums so expended by Beneficiary or Tru5tee, with Interest from ciate of expenditure al the amount allcMecl bylatw In effect II the date heqof, and to pay
for any statement provided for ~ law in effect at the date hereof ~.rcling ~ :::=n-::;~~ 1:~:::;:~demande;5! by ~ Beneficiary "!ot ~ IIllCMd tM maximum _Icwed by IIIw _ the
(6) That any award at damages in connection with any condemnation for pUblic use 01 or injury to sa~ or any part thereof is hereby assigned and shall be paid to Beneficiary 'Nho may apply or
relealM such moneys received by him in the ume mantMlr and with the aame , ect as above prtMdecl for di$pOSition of proceecIs 01 fire or oIhef m.ul'llnce"
(7) That by accepting payment of any sum secured hereby after its due elate, Beneticia2; Qoes not war;e his rights either to require prompt payment when due of ell ather turns so secured or to declare
ehIun for failure so to paJe
{8) Tt'lal at anytime or from time totirne, without liabilrtytherefor ar.d without notice, upon written req~ of I"I8flCiarjand presentation 01 this Deed and aak! notefOrendonemeM,' and without
affecting the personal liability 01 any person for payment of the indebtedness secured hereby,TrustH,may reconvey any,part 01 sa=perty, consent to the lnllking 01 any map or plot thereof; join in
granting any easement thereon: or join in any extension agreement or any agreement SUbordl ng the lien or ct'large hereof.
(9) That upon written reqlJeSt of Beoeficiary state that allaums secured hereby have been paid, and upon surrender cA this Deed anduid nota to Trustee lor cancellation and retention and upon
payment of its tees, Trustee shall reconYey, without warranty, the property then held hereunder, The recitals in such reconyeyance cA any matters or facts shall be concIusiYe proof cA the tNttlfulneu
thereof. The grantee in such reconve't'8nce may be clescribed as '1he person ~s le9ally entitIect therem "FiYe years after issuance of such full recorr.oeyanoe, Trustee may destroy Nid note and
-. . this (unless directed in sueh request to retain them)
(10) mat as additional security, Trustor hereby give to and confersupon Beneficiary the right, power and authority; during the continuance of theseTrusts, to collect the rents; IUUfIS and ptOfila of said
property, re58Mng unto Trustor the nght, prior to any defaun by Trustor in payment 01 any inclebteclnns secured hereby or in performance of any agreement hereunder,'to collect the rents, iuuea and
profits of uid p1Operty, reservi"9 unto Trustor the right, prior to an~ default by Trustor in payment of any indebteclnessMCured hereby_Of in performance cA any IIgreernent hereunder, to collect end
retain such rents, i"UM and proflm..S they become due and payab . Upon any suchdefa.../t, Benreflci8ry may at anytime without notice, either in person, byagent,'Ol" bye receiIowto be appointed by
a court, and without regard to the adequacy_of any security for the indebtedness hereby secured, enter upon and take possession of Aid properfyotanypattflHtteOt,"m his own name sue for Of
otnerwise collect such rents, issues and profits, including those pest due and unpaid, and apply the same, less coats and expenses of operatiOn and collection, incI~ reaSOlVoble ettomey's fen.
Upon any indebteclne5S secured hereby, ancl.n sueh order as BeneficiarymaY,determine. The entering upon and taking posseuion of s.aid property, the collection cA rents, isaues and profits and
the application thereof as aforesaid, shall not cure or waive any delault or notice of defaun hereunder or i"validate any act done pursuant to such notice.
(11) That upon defOlult by ,Trustor in payment of any, indebleclness secured hereby or in performance of a;1 agreement hereunder; Beneficiary may declare all sums secured hereby immediately due and
payable by deliYery to ,Trustee of written declaration of default and demand for sale and ofwrrtten notice delaun and of election to cause to be sold said property which noticI Trustee shall cause to be
filed for record.. Beneficiary also shall deposit with Trustee this Deed, said note and all documents eviclencirlQ exf)eflditures secuAKI hereby
After the lapse of such time as may then be required by ,law following the recordalionof uld notice of default, and notice of sale havi_f'Ig been gIVen as then required by law, Trustee, without demend on
Trustor, Shall. sell said property at the time and placelixed by it in said _1'IOtice of sale, either as a whole or in separate parcels, and In such order as it maydetermlM,\at publieauction to the highest
bidder lor cash In lawful money of the United States, payable at time_ofsale.,Trustee may postpone saleot all or any portion of said prope;:t by public announc&ment at~h time and place of saNt, and
Irom time to bf!l8 thereafter may postpone such sale by p~bhc.announce,,!ent ~t the time_fixed by the precocIing ~menl Trus~ aha I deliver to such purchaser its deed c:orweying the ~ so
sold, but withOut anycoYenanl or warranty, express or Implied.iThe recitals In auch deed of anhermatlers or facts a all be conclusIVe ~ of the truthfulness thereof. Any pctfSOn,including NStor,
_ Trustee, or Beneficiary as hereina defil'\ed, may purchase at such sa e. '"
After deducting aU costs, fees and expenses of Trustee and of this Trust, including cost of evidence 01 title in connection with sale, Trustee shall apply the pfOc:Mda of..1e to ~yrrIent 01 all sums
expended under the terms hereof, nol then ,epa.d, with accrued Interest al the amount allcMoecl by law in eff~ al the date hereof, all'~ sums then secured hereby,' line! the rem,ainder, ilany, to the
. ,_ . ,person or persons legally enlilled thereto. -
(12) Beneficiary, or any SUCC85$Or in owne~ip of any indebtedneu secured hereby,' may from,time to lime, by instrument In writing, substitute a successor Of ~ to any.TNStM' namllJl herein
or acting hereunder, which instrumer'lt, executecl by the Beneficiary and dulyacknowleclgecl and recorded in the office of the recoroer of the Cl:)unty or COllntieswhere 5IIidproperty ia situat8cI, shall be
conclusive proof of proper substitution of such successor Trustee or Trustees:.who shall, without conveyance from the Trustee predecessor, succeecI to all its title, estate rights ~ and duties.
Said instrument must contam the name of the Oflglmll Trustor:Trustee 8ndBeneficiary hereuncler, the book and page where this 0eeQ is recorded and the name and adctresa Or the new Trustee.
(13) That this Deed applies to, Inures to thebenelrt of, and binds all parties hereto,' their heirs, legatees, devi5ee$, administrators, executl>rS, successors and .ssigns. The term Beneficiary.nall mean
the owner and hoider, including pledgees, of the nole secured hereby whether or not named as Benelic:iary herein in this Deed:when...et the context so requires; the masculine"gender includes the
_ femlmneancllor neuter, and the singular number includes the pI_ural.
{14} That Tru$t" aceepb this Tru$t When this Deed, duly exec:utedand acknowledged; is made a publiC record as proYldecl by lew: Trustee is not Obligated to ~ any perty her8'Io of pending sale
under any other Deed of Trust or of any action or proceeclirlg in whICh Tru&tor, Benefictary or Trustee shall bea party unless brought by rustee.
DO NOT RECORD
REQUEST FOR FULL RECONVEYANCE
To be used only when note has been paid:
To Stewart Title of California, Inc., Trustee: . Dated
The undersigned is the legal o,\,n.er and hOld'!" of all Indebtedness secured by the ",ithin Deed of Trust. All sums sec~red by said
Deed of Trust have been fully paid and' satisfied; and you are hereby requested and directed, on payment to you of any sums owing
to.you under the"terms of said Deed of Trust, to,caricel all evidences of indebtedness,. secured by said Deed of Trust, delivered to you
herewith together with said Deed of Trust; and to reconvey, without warranty, to the parties designated by the terms of:said Deed of
Trust, the estate now held by you under the same.
MAIL RECONVEYANCE TO:
By
By
Do nollOS6 or destroy, this Deed of Trust OR THE NOTE which it secures, Both must be delivered 10 the Trustee tor cancellation before reconveyance will be made.
DOCUMENT PROVIDED SV STEWART TITLE OF CAliFORNIA, INC. SHTFRMDT.DOC
, . EXHIBIT "A" 02'*'85
' , ,
,
LEGAL DESCRIPTION
FOR
PARCELl
ALL THAT PORTION OF THE SOUTHWEST QUARTER OF THE NORTHWEST
dUARTER OF SECTION 13, TOWNSHIP 14 SOUTH, RANGE 2 WEST, SAN
BERNARDINO BASE AND MERIDIAN, IN THE COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA, ACCORDING TO OFFICIAL PLAT THEREOF, DESCRIBED AS
FOLLOWS
BEGINNING ATTHE SOUTHEAST CORNER OF SAID SOUTHWEST QUARTER OF
THE NORTHWEST QUARTER, THENCE ALONG THE EAST L1N!:: OF SAID
QUARTER
1. NORTH 1040'30" EAST, 50 00 FEET TO A POINT ON THE NORTHERLY
BOUNDARY OF THE PUBLIC ROAD KNOWN.AS POWAY ROAD-RS 944 &
RS 1713-, SAID POINT BEING POINT A OF THIS DESCRIPTION; THENCE
CONTINUING ALONG SAID EAST LINE
2 NORTH 1040'30" EAST, 34002 FEET TO A POINT ON THE SOUTHERLY
BOUNDARY OF HERITAGE HILLS UNIT NO 4, MAP NO 6486, THENCE
ALONG SAID SOUTHERLY BOUNDARY OF HERITAGE HILLS UNIT NO 4,
MAP NO 6486
J NORTH 89008"30" WEST, 23 92 FEET TO THE TRUE POINT OF BEGINNING,
THENCE CONTINUING ALONG SAID SOUTHERLY BOUNDARY AND THE
SOUTHERL Y BOUNDARY OF HERITAGE HILLS UNIT NO 1, MAP NO 5934
4 NORTH 89008'30" WEST, 458 49 FEET TO A POINT ON THE EASTERLY
BOUNDARY OF THE PUBLIC ROAD KNOWN AS TARASCAN DRIVE,
THENCE ALONG SAID EASTERLY BOUNDARY
5 SOUTH 1033'47" WEST, 31976 FEET TO THE BEGINNING OF A TANGENT
20 FOOT RADIUS CURVE, CONCAVE NORTHEASTERLY, THENCE
SOUTHERL Y, SOUTHEASTERLY AND EASTERLY ALONG THE ARC OF
SAID CURVE THROUGH A CENTRAL ANGLE,OF 90042'17" A DISTANCE OF
3166 FEET TO A POINT ON THE NORTHERLY BOUNDARY OF POWAY
ROAD; THENCE ALONG SAID BOUNDARY
(j SOUTH 89008'30" EAST, 220 50 FEET TO A POINT DISTANT THEREON
NORTH 89008'30" WEST, 241 FEET FROM SAID POINT "A", THENCE
NORTHEASTERL Y IN A STRAIGHT LINE TO THE TRUE POINT OF
BEGINNING
EXCEPTING THEREFROM THE WESTERLY 120 FEET - MEASURED ALONG THE
NORTHERL Y LINE.
THE EASTERLY LINE OF SAID WESTERLY 120 FEET BEING DRAWN PARALLEL
WITH THE MOST WESTERLY LINE OF THE ABOVE DESCRIBED LAND AND THE
SOUTHERL Y PROLONGATION THEREOF
.- . . . . ,
024586
I
LEGAL DESCRIPTION
FOR
PARCEL 2
BEING A PORTION OF THE SOUTHWEST QUARTER OF THE NORTHWEST
QUARTER OF SECTION 13, TOWNSHIP 14 SOUTH, RANGE 2 WEST, SAN
BERNARDINO MERIDIAN, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO OFFICIAL PLAT THEREOF, MORE
PARTICULARL Y DESCRIBED AS FOLLOWS
BEGINNING AT A POINT ON THEEASTERL Y BOUNDARY OF SAID SOUTHWEST
QUARTER OF THE NORTHWEST QUARTER, BEING AN INTERSECTION WITH THE
NORTHERL Y RIGHT-OF-WAY OF POWAY ROAD, ACeORDlNG TO ROAD SURVEY
944, THENCE ALONG SAID EASTERLY BOUNDARY
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 16504 FEET, THENCE
9 SOUTH 01 "04'39" WEST 61 34 FEET TO A POINT ON THE NORTHERLY
RIGHT-OF-WAY OF SAID POWAY "OAD, THENCE II.LONG SAID RIGHT-OF
WAY
10 NORTH 89"08'30" WEST 7659 FEET, THENCE LEAVING SAID RIGHT-OF-
WAY
11 NORTH 33"59'15" EAST 40601 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 A POINT ON THE EASTERLY
BOUNDARY OF SAID SOUTHWEST QUARTER OFTHE NORTHWEST
QUARTER, THENCE ALONG SAID BOUNDARY
13 SOUTfi 01"41'14" WEST 279 53 FEET TO THE TRUE POINT OF BEGINNING
CONTAINS 0 804 ACRES, MORE OR LESS
. . .
02458'7
EXHIBIT "B"
THIS DEED OF TRUST IS SECOND AND SUBSEQUENT IN LIEN TO THE DEED OFTRUST OF RECORD
IN FAVOR OF FREMONT SAVING & LOAN RECORDED JULY 6,2000 AS FILE NO 2000-0357519
AND A THIRD TRUST DEED TO RECORD CONCURRENTLY HEREWITH IN THE AMOUNT OF
$85,000.00 IN FAVOR OF THE CITY OF POWAY