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Home My WebLink About1984-02-21 - Deed WM LYON CO ' RECORDING REQUESTED Bl ]b • 84 -122393 ` Recorded at the request of AND WHEN RECORDED MAIL TO TICOR TITLE INS. CO. OF CALIF. 14 8:00 MAR 2 610 $6.00 A.M. FThe Redevelopment Agency of official Records Orange County. NO"' the City of Huntington Beach � street City Hall Recorder Address Huntington Beach, CA 45-39 rty a scot• L A SPACE ABOVE THIS LINE FOR RECORDER'S USE SHORT FORM DEED OF TRUST AND ASSIGNMENT OF RENTS (CORPORATION) A.P.N. This Deed of Trust, made this 26 day of March, 1984 , between THE WILLIAM LYON COMPANY, a corporation organized under the laws of the State of California herein called TRUSTOR, whose address is 19 Corporate Plaza Newport Beach, CA 92 60 t (number and street) (city) (state) (zip) Title Insurance and Trust Company, a California corporation, herein called TRUSTEE, and THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH , herein called BENEFICIARY, Witnesseth That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF SALE, that property in the City of Huntington Beach, Orange County,California,described as: SEE Legal Description attached as Exhibit "A" and incorporated herein by this reference. A The provisions of this Trust Deed include the contents of Exhibit "B" which is attached hereto and incorporated herein by this reference. : `r t TOGETHER WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the 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 profits. For the Purpose of Securing: 1. Performance of each agreement of Trustor incorporated by reference or contained herein. 2. Pay- ment of the indebtedness evidenced by one promissory note of even date herewith, and any extension or renewal thereof, in the principal sum of-S 823, 000. 00 executed by Trustor in favor of Beneficiary or order. 3. Payment of such further sums as the then record owner of said property hereafter 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 of this Deed of Trust and the note secured hereby,that provisions (1) to (14), inclusive,of the fictitious deed of trust recorded in Santa Barbara County and Sonoma County October 18, 1961,and in all other counties October 23, 1961,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,viz.: COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE Alameda 435 684 Kings 792 833 Placer 895 301 Sierra 29 335 t� Alpine 1 250 Lake 362 39 Plumas 151 5 Siskiyou 468 181 Amodor 104 348 Lassen 171 471 Riverside 3005 523 Solono 1105 182 Butte 1145 1 Los Angeles T2055 899 Sacramento 4331 62 Sonoma 1951 689 Caloveras 145 152 Madera 810 170 San Benito 271 383 Stanislous 1715 456 Coluso 2% 617 Morin 1508 339 San Bernardino S567 61 Sutter 572 297 lr Contra Costa 3978 47 Mariposa 77 292 Son Francisco A332 905 Tghoma 401 289 Del Norte 78 414 Mendocino 579 530 Son Joaquin 2470 311 Trinity 93 366 ,EI Dorado 568 456 Merced 1547 538 San Luis Obispo 1151 12 Tulare 2294 275 �-� l:resno 4626 572 Modoc 184 851 San Mateo 4078 420 Tuolumne 135 47 Glenn 422 164 Mono 52 429 Santa Barbara 1878 860 Ventura 2062 386 , Humboldt 657 527 Monterey 2194 538 Santa Clara 5336 341 Yolo 653 245 Imperial 1091 501 Napa 639 86 Santa Cruz 1431 494 Yuba 334 486 Inyo 147 598 Nevada 305 320 Shasta 694 528 Kern 3427 60 Orange 5889 611 San Diego Series 2 Book 1%1,Page 183887 (which provisions, identical in all counties,are printed on the reverse hereof) hereby are adopted and incorporated herein and made a part hereof as fully as though set forth herein at length; that he will 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 him at his address hereinbefore set forth. STATE OF CALIFORNIA, 1 SS. Signature of Trustor COUNTY OF I On cg=z= o2 pU U before me, the THE WILLIAM__j,)[ON/G4PAjX undersigned, allotar Publics in an� for said State, personally corporation appeared / tll/ C, • By Lt VICE PRESIDENT President known to me to be th resident,and By a�,e� 29::9 .g-r°.e-r%ttQe�s r� VICE PRESIDENT 4_ A.ao - Secretary o � known to me to be the y �-� r Secrrtary of the corporation that executed the within instrument,and known to me 61041010 OFFICIAL SEAL to be the persons who executed the within instrument on behalf of 5 tie the corporation therein named,and acknowledged to me that such J �t(� s J O N I H. DUN N corporation executed the within instrument pursuant to its by-laws Wt� ` '^gym NOTARY PUBLIC-CALIFORNIA or a resolution of its board of directors. PRINCIPAL OFFICE IN WITNESS my hand and official seal. ,^;'"N� ORANGE COUNTY My Commission Expires Apr.26, 1985 ^� Signature This area for official notarial seal) Title Order No. Escrow or Loan No. TO 1938 CA(7-75)(OPEN END) 84- 393 • EXHIBIT "A" Lots 1, 2, and 3 and Lots A, B, and C of Tract 12061, as shown on a Map recorded in book 521 pages 33 to 35 inclusive. of Miscellaneous Maps, in the office of the County Recorder of said county. i Ile s 84"122393 EXHIBIT B TO TRUST DEED Provided that no unrescinded Notice of Default under this trust deed then appears of record, Trustor shall receive , and Beneficiary shall cause Trustee under this trust deed to execute and deliver, partial reconveyances from the lien of this trust deed, of condominium units or town house lots as shown on a recorded subdivision map for the property described in this trust deed ( "Property" ) upon payment to Beneficiary of the Release Price as defined herein, for each such unit or lot. The Release Price shall mean 110% of the original principal balance of the Note divided by the total number of residential lots or condominium units shown on the recorded sub- division map for the Property. All payments of Release Price paid to Beneficiary to obtain releases shall be applied to the principal amount of the Note. Upon request of Trustor and without payment of any Release Price therefor, Beneficiary shall cause Trustee to exe- cute and deliver partial reconveyance from the lien of this trust deed, all property regdired to be conveyed to a govern- mental agency pursuant to a condition of approval of the subdivision map for the Property, and all lots designated as common area , open space or similar non-residential lots , for conveyance to a homeowner ' s association or a condominium owner ' s association. Upon request of Trustor, Beneficiary shall promptly and without cost to Trustor, except the cost of an endorsement to Beneficiary' s title insurance policy showing the second lien priority of this trust deed , execute and deliver such documents as are necessary to subordinate the lien of this trust deed to a new first trust deed encumbering only the property subject to this deed of trust in favor of a State or Federally chartered bank or savings and loan association which secures a construction loan to be made to Trustor by such lender , provided that : (1) the construction loan is made for the purpose of financing the con- struction of improvements on the property encumbered by this trust deed, and (2) the terms of the construction loan are sub- stantially similar to the following : loan amount not to exceed $5. 3 million; interest rate not to exceed construction lender ' s prime rate plus 1 . 25%, with no loan fees; term of loan not to exceed 30 months.