Deed of Trust and Security Agreement SHOP2013-0325987 �-1 J \
' , . RECORDED ATTHE REQUEST OF � � � � � ��� �_������� ,
CFiICMGO TIY'�E•COMPANY
SUgDIVISI�N DEPT II I II I III III IIII I II I II II I II III
COMPLIMENTARY RECORDING
� �QUeSTED PURSUANT 1'0 MAY 23, 2013 4:49 PM
�� GOVERNMENT CODE SECTION 27383 OFFICIAL RECORDS
SAN DIEGO COUNTY RECORDER'S OFFICE
� EmeslJ. Dianenburg,Jc, COUNTY RECORDER
Poway }9ousing Authoriry FEES: 66.00 wav�A: �z
13325 Civic CenteCDrive pAGES' 12
At na C ecutve� Director �J�i� � I I��III��III��III��III IIIII IIIII�IIII IIIII�IIII(�III��III��III��III��III��III IIII IIII
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D�ED OF TRUST AND SECURITY AGREGMENT
(Powav 1-lousing Authority- SHOP Program)
THIS DCED OF TRUST AND SECURITY AGR�EMGNT ("Deed of Trust") made this
Z3�� day of�a�-- 2013, among the trustor,,Jason Tagulinao and Tessa
Tagulinao, Husband anci Wif'e as�Joint Tenants ("Borrower"); whose address is 12964 Metate
Lane, Poway, CA 92064, and Chicago Title Company ("Trustee"), and the Poway Housing
Authority (the "Housing Authority") as Beneficiary.
The Borrower, in consideration of and as security for the loan of funds to the Bonower
by Housing Authority, irrevocably grants, transfers, conveys and assigns.to Trustee, in trust, with
power of sale, the property located in the Ciry of Poway, County of San Diego, Sfate of
California, described in the attached:Exhibit A and more commonly known as: 12964 Metate
, Lanc (the "Property.").
TOGGTHER with all the improvements now or hereafrer erected on the property, and all
easements, rights, appurtenances; and all fixtures now or hereatte� attached to the property, all of
which, including replacements and additions thereto, shall be deemed to be and remain a part of
the property covered by this Deed of Trust; and
TOGETHER with all fixtures now or hereafter attached to or used in and about the
building or buildings now erected or hereafter to be erected on,the Property which are necessary
to the complete and comfortable use and occupancy of such building or buildings for[he
purposes for which they were-or are to be erected, including all other goods and all othe�
personal groperty as are ever used or furnished in operating,a building, or'the activities
conducted therein, similar to the one herein described and referred to, and all renewals or
replacements thereof or artides in substitution therefore; whetfier or not the same, are; or shall be
attached to said building or,buildings in any manner (all of the foregoing, together with the
Property, is hereinreferred to as the "Security").
"Co fiave and to hold the Security together with acquittances to the Trustee, its successors
and assigns forever;.
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TO SECURE to 4he Housing Autho�ity the performance of the covenants and agreements
of Borrower contained'in that certain Occupancy,Refinancing, and Resale Restriction
Agreement with Option to Purchase executed by and between the Borrower and the Housing
Authority of even date herewith(�tlie "Resale Restriction Agreement");
7'O SECURE the payment ot`Excess Sales Proceeds;(as defined in the Resale Restriction
Agreement) and Excess Rents (as defined in the Resale Restriction Agreement) that may become
due by Borrower to Housing Authority;
TO SECURE to the:Housing Authority the repayment of the sum in the amount of
Twenty-Nine Thousand Six-Hundred Two Dollars ($29,602) evidenced by that certain
Promissory Note Secured 6y Deed of Trust executed by Borrower in favor of the Housing
Authority as of the date of this Deed of Trust (the "�Iote"); and
TO SECURE the payment of al] other sums, with interest thereon, advanced in
accordance herewith to protect the security of this Deed of Tiust; and,the performance of the
covenants and agreements of Borrower herein co�tained.
BORROWER AND HOUSING AUTI-[ORITY COVENANT AND AGREE AS FOLLOWS:
l. Borrower's Estate: Borrower is the lawful owner of the Security with the right to
grant and convey the Security. Other than this Deed of Trust, the Security is encumbered only
by those deeds oPtrust-(collectively the "First Lender Deed of Trust") executed by Borrower to
secure two prorriissory notes:(collectively the "Firs[ Lender Note") executed by Borrower to
assist in the purchase oY the Property in connection with a loan or loans made to Borrower as
follows:
� Name�of�Lender � Amount� Date,Deed of
Trust Recorded
1. FirstNationsHomeFinance $296,200 May 23� 20�3
2. City of Roway B�GIN Program $58,856 �1ay 23T2t��3
3.
4.
All lenders listed above are collectively the "First Lender." Borrower agrees to warrant and
defend generally the title aud,the`Security against all claims and demands, subject'to any
declarations, easements or�restrictions listed in a schedule of exceptions to coverage in any title
insurance policy insuring the Flousing Authority's interest in the Security. (As used irrthis Deed
of Trus[, the term "First Lender" shall include all successors and assigns of the First Lender.)
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2. Repavment of Sums Owed under Note and.Resale Restriction Agreement.
Borrower shall piomptly pay to the Housing Authority all sum"s due under the Note and the
Resale Restriction AgTeement, including"all principal and any:ExcessSales Proceeds and Excess
Rents. The Note contains the following provisions conceming repayment:
Assumption of Note bv Subsequent Buvers. Borrower acknowledges that this
Note is given in connection with the purchase of the [-lome (as defined,in the
Note) as part'of a program of the Housing Authority to assisT in the purchase of
homes by low and moderate income households: Gonsequently, this Note is
assumable only by Eligible Buyers of the Home (as defined in the Resale
Restric[ion Agreement). Excess Rents and Excess Sales Proceeds are due at
Transfer (as defined in ttie Note) including Transfei to an Eligible Buyer. The
Note is due in full upon all other Transfers. In the!event this Note is assumed by
an Eligible Buyer, the'Eligible Buyer shall execute.a,new promissory note; deed
oftrust, resalesestriction, and notice of affordability restrictions on transfer of
property, with new forty-five (45)-year terms in forms approved by the Housing
Authority.
3. Resale Restriction A�reement. Borrower shall observe and perform all of the
covenan[s and agreements of the Resale Restriction Agreement.
4. First Lender Loan. Borrower shall observe and perform all of the covenants and
agreements of the��First Lender Nofe, First Lender Deed of Trust and related Pirst Lender loan
documents.
5. Charges; Liens. Borrower shall pay all taxes, assessments and other charges,
fines and impositions attributable to the Security which mayattain a priority over this Deed of
Trust, by Borrower making any paymenL when due, directly to the payee thereof. Upon request
by the Housing Authority, Borrower:shall promptly Purnish to the Housing Authority all notices
of amounts due under this paragraph. In the event 13orrower makes payment directly, Borrower
shall promptly discharge any lien which has priority over this Deed of Trust; provided, that
Borrower shall not be requiFed to discharge the lien of the Deed of Trustsecuring the First
LendefNote (the "First Lender Deed of Trust") or any other lien described in this pazagraph so
long as Borrower shall agree in writing to the payment of the obligation secured by such lien in a
manner acceptable to the Housing Authority, or shall, in good faith, contest such lien by, or
defend enforcerrient of such lien in, legal proceedings which operate to prevent the enforcement
of the lien or forfeiture of the Security or any part thereof.
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6. Hazard Insurance.
(a) Borrower shall keep fhe Securify insured by astandard all risk property
insurance�policy equal to the cunent-replacement value of the Security by appraisal, such policy
shall be.adjusted annually to reflecY:cHanges to local building costs calculated on a per square
foot basis. The Housing Autfiority:has the right, but not the obligation, to inform Owner of the
then-current replacement value of the Home. If the Security is located in a flood plain, Borrower
shall also obtain flood insurance:, In no event shall the amount of insurance be less than the
amount necessary to prevent Borrower from becoming a co-insurer-under the terms of the policy.
The insurance carzier providing[his insurance shall be licensed to do business in the State
of California and be chosen by Borrower subject to approval by the Housing Authority.
All insurance policiesand renewals thereof shall be in a forin.acceptable to the Housing
Authority, and shall include a "standa"rd mortgagee clause with standard.lender's endorsement in
favor of the holder of the First Lender Note and the I-lousing Authority as their interests may
appear and in a form acceptable to,'the Housing Authority. 1'he Housing Authority shall have the
right to hold, or cause its designated agent to hold, the policies and renewals the�eof, and
Borrower shall promptly furnish to the Housing Authority, or its designated agent, the original
insurance policies or certificates of insurance, all renewal notices and-all receipts of paid
premiums. In [he event of loss, Borrower shall give prompt notice fo the insurance carrier and
Ihe.Housing Authority or its designated agent. The I-lousing Authority; or its designated agent,
maymake prooPof loss if not made,promptly by Borcower. 1'he Housing Authority shall receive
. thirty (30) days advance notice of cancellafion of any insurance policies required under this
section.
Unless otherwise permitted by the Housing .Authority in writing, insurance proceeds,
subject to the rights of the First Le�der, shall be applied to restoration or repair of the Security
damaged. If permitted by HousingAuthority, and subject to the rights of the First Lender, the
insurance proceeds shall be used to repay any amounts due under Section 21 of the Resale
Restriction Agreement, with the excess, if any, paid to Borrower. If the Security is abandoned
by Borrower, or iP Borrower fails to respond to Ihe Flousing Autfiority;or its designated agent,
within thirty (30) days from the�date notice is mailed by either of thein to-Borro�ver.that the
insurance,carrie��offers to settl"e�a claiin for insurance"benefits, the I-lousing Authority,or its
designated agent,_is authorized to collect and apply the insurance,proceeds at the Housing
Authority's option either to restoration or repair of the Security or'to pay amounts due under the
Resale RestrictionAgreement and the Note.
If the Security is acquired by the Housing Authority, all right, tifle and interest of
Borrower'in and to any insurance policy and in and to the proceeds thereof resulting from
damage.to theSecurity prior to the sale or acquisition shall pass to the Housing Authority to the
extent of the sums secured by this Deed of Trust immediate prior to such sale or acguisition,
subject to the rights of the First Lender.
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(b) During the course of any rehabilitation of the improvements located on the
Property, Bonower shall hire'only licensed contractors who maintain the following forms of
insurance:
(i) Liabilitv Insurance. Comprehensive,general liability insurance
against liability foi bodily injur.y to oc death of any person or property damage arising out of an
occunence on or about the Property. The limits of such insurance;shall be not ]ess than One
Million Dollars($1,000,000) combined single limit for bodily injury and property damage,
naming the Housing Authority; the City of Poway (`City") and theirrespective elected and
appointed officials, board memBers, officers, employees and agents as additional insureds.
(ii) Worker's Compensation Insurance. Worker's corrfpensation.
insurance covering all persons employed in connection with any work on the Property.
7. Preservation and Maintenance of Securitv. Borrower shall keep the Security'in
good repair and in a neat, clean, and orderly condition and in accordance with all applicable
laws, rules, ordinances, orders and regulations of all federal, state; county, municipal, and other
governmental agencies and bodies having or claimingjurisdiction:and all their respective
departments, bureaus, and officials; and shall not commit waste or permit impairment or
deterioration of the Security. If there arises a condition in contravention of this Section 7, and if
the Bonower has not cured such condition within thirty (30) days after receiving a Housing
Authority notice of such a condition, then in addition to any otlier.rtghts available to the Housing
Authority, the Housin� Authority shall have the right (but not the obligation) to perform-all.acts
necessary to cure such condition, and to establish or enforce a lien or other encumbiance against
the Security to recover its cost of curing.
8. Protection of the Housins Authority's Securitv. If Borrower fails to perform the
covenants and agreements contained in this Deed oTTrust or if any action or proceeding is
commenced which materiallyaffects the Housing Authority's interest in the Security, including,
but not limited to, default under�the First Lender Deed of Trust, erni'nenf dorr�ain, insolvency,
code enforoement, or.arrangements or proceedings involving a barikrupfor decedent, then the
Housing Authority, at the Housing Authority's option, upon notice to Borrower, may make such
appearances, disburse.such sums and take sucfi action as it determines necessary to protect the
Housing Authority's interest, including but not limited to, disbursement of reasonable attorney's
fees and entry upon the Security to rriake repairs.
Any amounts disbursed by the Housing Authority pursuant to this paragraph, with
interest thereon, shall liecome an indebtedness oP Borrower secured 6y this Deed oP Trust.
Unless Borrower and Housing Authority agree to other terms of payment, such amount shall.be
payable upon notice from the Housing Authority to'Bonower requesting payment thereof, and
shall bear interest from the date of disbursement at the lesser of(i) ten percent (10%); or (ii) the
highest rate permisSi6le under applicable law. Nothing contained in this paragraph shall require
the Housing Authority to incur any expense or take any action hereunder.
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9. lnspection. The Housirig Authority'may make or cause to be rriade ieasonable
entries upon and inspections of the Security�provided that the Housing AutHority shall give
Borrower reasonable notice of inspection.
10. Forbearance.bv the'Housing Authoritv Not a Waiver, Any forbearance
(refraining from enforcing a right, obligation or debt) by the Housing,.Authority in exercising any
right or remedy shall not be a waiver'of the exercise of any such right o�remedy, nor shall
acceptance by Ihe Housing Authority of any payment provided for in the Note constitute,a
waiver of the Housing Authority's right to,require prompt payment of any7emaining,p;incipal
and interest owed. The procurement of insurance or the payment of taxes or other liens or
charges by the Housing Authority shall not be a waiver of the Flousing Authority's right'to
require payment of any amounts secured by this Deed of Trust.
11. Remedies Cumulative: All remedies provided in this Deed of Trust are distinct
and cumulative to any other right or.remedy under this Deed of 1'rust or any other document, or
afforded by law or equity, and may be exetcised concurrently, independently or successively.
, 12. Hazardous Substances. Borrower shal] not cause or permit the,presence, use;
disposal, storage, or release.of,any Hazardous Substances on or in theProperty: Borrower shall
not do; nor allow anyone else to do, anytfiing afPecting the PropeRy that is in violation of any
Environmental Law. The prece8ing 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 PropeRy.
"Hazardous Substances" shall mean those substances defined as toxic or hazardous
substances or hazardous waste under any 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.
"Environmental Law" shall mean all federal and state of California laws that relate to
health, safety or environmenfal protection.
Bonower shall promptly give Housing Authority written notice of any investigation,
daim, demand, lawsuit or other action by any governmental or regulatory Housing Authbrity or
private party involving the Propeity and any Hazardous Substance or Environmental Law'of
which Borrower has actual knowledge: [f Borrower ]eams, or is notified by any governmental or
regulatory authoriry, that any removal or other remediation of any Hazardous Subs[ance
affecting the Property is necessary, Boirower shall promptly take all.necessary remedial actions
in accordance with Environmental Law.
13. Successors and Assigns Bound. The covenants and agreements herein contained
shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the
Housing Authority and Borrower subject to the provisions oP this Deed of Trust.
14. Joint and Several Liabilitv. All covenants and a6reements of Borrower shall be
joint and several.
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15. Notice. Except for,any:notice required under applicable law to be given.in
another manner, (a) any notice to Borrower provided for in this Deed of TrusY shall be given in
writing by certified mail, return receipt requested, express delivery with delivery receipt or
personal delivery with delivery receipt, addressed to Bonower at the address shown in the first
paragraph of this Deed of Trust or such other address as Borrower may designate by notice to the
Housing Authority as provided lierein, and (b) any notice to theiHousing Authority shall be given •
in writing by certified mail,'return receipt requested, express delivery with delivery �eceipt or
personal delivery with delivery receipt, to the Housing Authorify; 13325 Civic Center , Poway,
CA 92064, Attn: Executive Director, or to such other address as the Housing Authorifymay
designate by notice to Borroweras provided above. Notice shall'be effective as oC:the dafe
received by Housing Authority'as shown on Ihe return receipt..
16. Governina Law. This Deed of Trust shall be governed by the ]aws of the State of
Califomia.
l7. Severabilitu. In.tlie event that any piovision or clause oY this Deed of Trust.or the
Resale Restriction Agreement conflicts with applicable law; such'conflict shall not affect otlSer �
provisions of this Deed of Trust orthe Resale Restriction Agreement which can be given effect
without the conflicting provision,and"to this end the provisions of the Deed of Trust and tfle
Resale Restriction Agreement are declazed to be severable.
18. Gaptions. The captions and headings in this Deed of Trust are for convenience
onfy and are not to be used to interpret or define the provisions hereof.
19. Nondiscrimination.
A. The;Borrowercovenants by and for itself and its successors and assign's to
refrain from restricting the rental,sale or lease of the Home on any basis listed in subdivision (a)
or (b) of Section 12955 of the Government Code, as those bases are defined in Section 12926,
12926.1, subdivision (m) and paragraph (1) of subdivision (p) of Section ]2955, and_Section
12955.2 oPthe Government•Code.
B. Notwithsianding paragraph A. of this section; with respect to familial
status, paragraph.A. of this section shall not be construed to apply to housing-for older persons, as
defined in Section 72955.9 of the Government Code: With,respect to familial staTus, nothing in
paragraph A. of this section shall be construed to affect Sections.51.2, 51.3, 51.4,51.10, 51.1 1 and
799:5 of the Ci��il Code, relating to housing for senior citizens. Subdivision{d) of Section 51 and
Section 1360 oftbe Civil Code and sub8ivisions (n), (o)�and (p) of Section� 12955 of the
Government Code,shall apply to paragraph A. of this'section.
20. Nonliabilitv for Ne�pence, Loss, or Dama�e. Borrower acknowledges„
understands and agrees that the relationship between Borrower and the Housing Authority is
solely that of a borrower and lender„and [hat the Housing Authority does not undertake or
assume anyresponsibility for or:duty to Borrower to select, revieiv; inspect, supervise; pass
judgment on, or inform Borrower of the quality, adequacy or suitability of fhe Security oi any
other matter. The Housing Authority or City owe no duty of care to protect Borrower against
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negligent, faulty,:inadequate or defectiye building:or construction or any condition of the
Security and Bonower ag�ees that neithen Borrower, or Borrower s heirs, successors or assigns
shall ever claim, have''or assert any'right or action against the Housing Authority or City for any
loss, damage or other matter arising out of or resulting fiom any condition of the Security and
shall hold Housing Authority and City harrriless from any liability, loss or damage for these
things.
21. Indemnity. Borroweragrees to defend, indemnify, and hold the liousing
Authority and the City.of Poway'and their respective elected and appointed officials; board
members, offlcers; employees and agents harmless from all losses, damages, liabilities, claims,
actions,judgments, costs, and reasona6le attorneys fees that the Housing.Authority or City may
incur as a direct or indi�ect consequence of:
(a) Borrower's failure to perform any obligations as and when required by the
Note, Resale Restriction Agreement, Notice of Affordability Restriction on Transfer of Property,
and this Deed of Trust; or
(b) the failure at any time of any of Borrower's representations or warranties
to be true and correct.
22. Acceleration; Remedies. Upon 6orrower's breach of any covenant or agreement
of Borrower in the Note, Resale RestrictionAgreement, Notice'of Affordability Resfriction on
Transfer oF Property, or this Deed'of Trust, including, but not limited'to, the coyenants to pay,
when due, any sums secured by this Deed oFTrust,the Housing Authority, prior to acceleration,
shall mail by express delivery with delivery receipt, notice to Borrower specifying; (1) the
breach; (2) the action required to cure such breach; (3) a date, not less than'thirty (30) days from
the date the notice is received by Borrower as shown on the retum receipt, by which such breach
is to be cured; and (4) if the breach is curable, that failure to cure:such breach on or before the
date specified in the notice may result_in acceleration of the sums secured by this Deed of Trust
and sale of the Security. The notice shall also inform Borrower oF-Borrower's right to reinstate
after acceleration and the right to bring a court action to assert the nonexistence of default or any
other defense of Borrower ro acceleration and sale. If the breach is not cured on or before the
date specified in the notice, the I-lousing Authority, at fhe Housing Authority's option, may: (a)
declare all of the sums secured by this Deed of Trusl to be immediately due and payable without
fuRher demand and may invoke [he power of sale and any other.remedies permitted by
California law; (b) either in person or by agent, with or without bringing any action or
proceeding, or by a receiverappointed by a court, and without regard to the adequacy ofits
security, enter upon the Security and take possession thereof(or any part,thereo� and of any of
the Security, in it"s.own name or in the name ol'Trustee, and do any acts which it deems
necessary or desirable to preserve the value or marketa6ility'of the Property, or part thereof or
interest-therein, increase the income therefrom or protect the security thereo£ The entering upon
and [aking possession:of the Security shall not cure or waive any breach hereunder or invalidate
any act done in re§ponse to such breach and, notwithstanding the continuance in possession of
the Security, the Housing.Au[hority shall be entitled to exercise every right provided for in this
Deed of Trust, orby law upon occurrence of any uncured breach, including the right to exercise
the power of sale; (c) commence an action to foreclose this Deed of Trust as a moRgage, appoint
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a receiver, or specifically enforce any of tHe covenants hereof; (d);deliv.er to Trustee a written
declaration of default;and,demand forsale, pursuanCfo fhe provisions for notice of sale found at
California Ci�:il Code Sections 2924 et s��, as amended'from time [o time; or (e) exercise all
other rights and remedies provided herein, in the instruments by which the Borrower acquires
title to any Security, or in any other docuinent or agreement now or hereafter evidencing,
creating or securing all or any'portion of the obligations secured hereby, or provided by law.
The Housing Authority shall be entitled to collect all reasonable costs and expenses
incurred in pursuing the remedies provided in this paragraph, including, but not limited to,
reasonable attomey's fees.
23. Borrower's Ri�ht to Reinstate. Notwithstanding the Housing Authority's
acceleration of the sums secured by this Deed of Trust, Borrower shall have the right to haye any
proceedings begun by the Housing.Authority to enforce this Deed of Trust discontinued at any
time prior to five (5) days before sale of the Security pursuant to the power of sale contained in
this Deed of Trust or at any time prior to entry of ajudgment enforcing this Deed of Trust.if: (a)
Bonower pays Housing Authority all sums which would be then due under this Deed of Trust
and no acceleration under this.Deed of Trust, the Note, or the Resale Restriction Agreement has
occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower
contained in the Note, Resale Restriction Agreement, or this Deed of Trust; (c) Borrower pays all
reasonable expenses incurred by I-Iousing Authority and Trustee in enforcing the covenants and
agreements of Borrower contained in the Note, Resale Restriction Agreement, or this Deed of
Trust, and in enforcing the Housing Authority's and Trustee's remedies, including, but not
limited to, reasonable attorney's Yees, and (d) Borrower takes such action as Housing Authority
may reasonablyrequire to assure:lhat the lien of this Deed of Trust, Housing Authority's interest
in the Security and Borrower'sobligation to pay the sums secured by this Deed oFTrust shal]
continue unimpaired. Upon such payment and cure by Borrower, this Deed of Trust and the
obligations secured hereby shall remain in full force and effect as if no acceleration had
occuired.
24. Due on Transfer of the Propertv. Upon a TransFer (as defined in the Resale
Restriction Agreement) of the Property orany interest"in it; the Housing Authority shall require
immediate payment in full of all suins secured by this Deed of Trust, except for amounts.
. assumable by an Eligible Buyerpursuant to Section 8 of the Note.
25. Reconvevance. Upon payment of all sums secured by this Deed of Trust, and
upon the expiration ofthe Term of the Resale Restciction Agreement, if the Bocrowen o�vns,and
occupies the P'roperty and.is not in violation of any provisions of the Note, this Deed of Trust or
the Resale Restriction Agreement, the Housing Authority shall request Trustee to reconvey the
Security and shall surrender this Deed of Trust and the Resale Restriction Agreement to Trustee.
Trustee shalLreconveythe Security without warranty and without charge to the person or persons
legally entitled thereto. Such person or persons shall pay all costs of recordation, if any.
26. Substitute Trustee. The Housing Authority, at the Housing Authority's option,
may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed
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he�eunder. The successor tnzstee shall succeed to all the title,power and duties conferred upon
the Trustee herein and by applicable law.
27. Superioritv of First Lender pocuments. Notwithstanding any provision herein,
this Deed of Trust shall not,diminish or affect the rights of the'First Lender under the Pirst
Lender Deed of Trust or any subsequent First Lender deeds of:trust hereafrer iecorded against
the Security in compliar�ce with the requirements of Section 25 of the Resale Restriction
Agreement.
Notwithstanding any otherpr,ovision hereof, the provisions of this Deed of Trust shall be
subordinate to the lien of the First Lender Deed of"1'rust and,shall not'impair the rights of the
First Lender, or such IendeYsassignee or successor in interest, to exercise its remedies under the
First Lender Deed of Trust in the event of default under the First Lender Deed of Trust bythe
Borrower. Such remedies under the First Lender Deed of Trust include the right of foreclosure�
or acceptance of a deed or assignment in tieu of foreclosure. Afrer such-foreclosure or
acceptance of a deed in lieu offoreclosure, this Deed of TrustsHall;be forever terriminated and.
shall have no further effect�as to tlie Properfy or any transferee thereafter; provided, however; if
the holder,of such Pirst Lender Deed of Trust acquired title to the Property pursuant to a deed or
assignment in lieu of foredosure, this Deed of Trust shall automatically terminate upon such
acquisition of title provided that (i) the Housing Authority has been given written notice of
default under such Pirst Lender Deed of Trust with a sixty (60)-day cure period (which
reqiiiiement shall be satisfied by recordation of a notice of defaul4 under Califomia Ciyil Code
Section 2924), and (ii) the Housing Authority shall not have cured the default within such sixty
(60)-day period.
28. Request foi Notice. Housing Authority requests that copies'of the notice of
default and notice of sale be sent to Housing Authority at the address set Porth in Section 15
above.
IN WITNESS WHEREOF, Borrower has executed this Deed of Trust as of the date first
written above.
a �« .
Jason "Cagulinao; Borrower
Te sa T u a , orrower
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STATE OF'CALIFORNIA ),
) .
COUNTY OF SAN D1EG0 )
On �,QlL Za� Z��.3 , before me, y�f�yL G/.S ��//�//� Notary
Public,,personally appeared,�S4�✓TG(,t�/N.4l�w�E5.t4�A6GfL/NAD, proved to me on the
basisof satisfactory evidence to be the pe�son(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.tha[ 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.
I certify UNDER PENALTY OF PERJURY under the lawsof the State of Califomia that
the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
PHYLLI6 SHINM
Commlalon N 1958215
� Notery�PuDlie-�C�Ilfornle
San Dlepo County
M Comm.E Ires Nov 9,Z015 Notary P � �
STATE OF CALIFORNIA )
)
COUNTY OF SAN D[EGO )
On , before me, , Notary
Public, personally appeared , 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 [he person(s) acted, executed the instrument.
I certify�.U�NDER PGNA�LT'Y OF PERJURY under the �laws of'the State�of California that
the foregoing patagraph is true and correct.
WI"[T�'�SS my hand and official seal.
Notary Public
1552V03\565868.4
134Q3
LXFIlBIT A
Property Description
LOT 24 OF CITY OF POWAY TRACT NO. 06-06 TF� NiEADOWS, IN THE CYI'Y OF POWAY,
COiJNTY OF SAN DI�Gq STATE OF CALIFORNIA, ACCORDING TO MAB TI-IEREOF NO.
15743, FILED IN'I'1IF OFFICE'OF THE COUNTY RECORDGR OF SAN DIEGO COUNTY ivL1RCH
5, 2009. ' �
i
A-]
1552V031565868.4