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HomeMy WebLinkAboutBarbara Dieckmeyer - 1994-02-28Loan Documentation Audit C'Obis Borrower: Diekmeyer, Barbara J. �� Borrower #: 94-06 Note Date: Unknown Property Address: Program and Loan Amount: 409 Utica B-21 1). CDBG $10,000 2). Agency $23,000 Documentation Issue ' 1 UTL hazard insurance showing City as loss payee. 2 UTL evidence that flood zone was determined. j 3 UTL copy of settlement statement. 4,eo7— ai57�4-,a� 4 UTL evidence that Fair Lending Notice was provided to applicant. 5 Title insuran=4Cn7su:r6�19 incorrect for both loans. Lien position is listed ncorrectly, but recording sequence is correct. Policy coverage is limited; QO(Yoo v would recommend obtaining CLTA coverage for any purchase money transaction. 6 Loan Agreements refer to exhibits which are not attached (A, B, C, D). W/L ✓1 Disclosure refers to a minimum cash down payment required. Percentage amount is not filled in for loan #1. 301a O Ate 8 Documents do not contain full name of trustor. Middle initial "J" is not included. jvbT car 9 Deed of trust contains a white out area with retyping that was not initialed by trustor. The clause is benign and has no material effect on then transaction. Exhibit A, legal description, is not attached. 10 Credit file worksheet refers to the primary loan amount of $71,300. Recorded lien was $71,000. ' I '&,) Pbf,".; ;v.CvecL�i� de- • VAC- oy�e_ PAo� �¢.�d � �sau•�v vn, S/Sys' City of Huntington Beach February 10, 1995 Page 13 TO THE CITY OF HUNTINGTON BEACH ATTN LIZ TALBOTT 2000 MAIN STREET LfTINGTON BEACH CA 92648 SUBJECT: MESSAGE ",1' 119093'Beach,Boulevard' 11 • (Huntington IBeach,1CA 92648"""„"1 (714) 843-0101 • FAX (714) 843-9949 DATE: 5-01-95 ENCLOSED PLEASE FIND THE FINAL TITLE POLICY PER YOUR REQUEST. HANK YOU VERY MUCH ' LINDA CAMPBELL, ESCROW OFFICER TE 11 � w TRW Title Insurance Company ALTA RESIDENTIAL TITLE INSURANCE POLICY One -To -Four Family Residences OWNER'S INFORMATION SHEET ®® ;71nvvw Your Title Insurance Policy is a legal contract between you and the Company. It applies only to a one -to -four family residential lot or a condominium unit. If your land is not either of these, contact us im- mediately. The Policy insures you against certain risks to your land title. These risks are listed on page one of the Policy. The Policy is limited by: • Exclusions on page 2 • Exceptions in Schedule B • Conditions on pages 2 and 3 You should keep the Policy even if you transfer the title to your land. If you want to make a claim, see Item 3 under Conditions on page 2. You do not owe any more premiums for the Policy. This sheet is not your insurance Policy. It is only a brief outline of some of the important Policy features. The Policy explains in detail your rights and obligations and our rights and obligations. Since the Policy —and not this sheet —is the legal document, YOU SHOULD READ THE POLICY VERY CAREFULLY. If you have any questions about your Policy, contact: OWNER'S COVERAGE STATEMENT COVERED TITLE RISKS COMPANY'S DUTY TO DEFEND AGAINST COURT CASES SCHEDULE A Policy Number, Date and Amount 1. Name of Insured 2. Interest in Land Covered 3. Description of the Land TRW Title Insurance Company 6800 College Blvd., Suite 200 Overland Park, Kansas 66211 TABLE OF CONTENTS PAGE SCHEDULE B—EXCEPTIONS INSERT 1 EXCLUSIONS 2 1 CONDITIONS 1. Definitions 2 2. Continuation of Coverage 2 1 3. How to Make A Claim 2 INSERT 4. Our Choices When You Notify Us of a Claim 3 5. Handling a Claim or Court Case 3 6. Limitation of the Company's Liability 3 7. Transfer of Your Rights 3 8. Arbitration 3 9. Our Liability is Limited to this Policy 3 ALTA Residential Title Insurance Policy (6-1-87) 2W Yale 1 TRW Title insurance Company RESIDENTIAL TITLE INSURANCE One -To -Four Family Residences OWNER'S COVERAGE STATEMENT 1 hi, Polic,• insure, your ;isle to the land described in Schedule A- it that land I, a one-lo-four tarnih revdential lot or condo- minium unit. Yiwr insurance, ai described in this Courage Siatement, is ef-`ecinc on the Polies' Bate shirkn in Schedule A. lour insurance is limited b� the tolhming: • Excluslons Oil Page 2 • Exceptions in Schedule R • Conditions on page, 2 and 3 %Ne insure yotu against actual loss resulting from= • any title risks co,ercd by this Tolle' --up to the Pali« Amount and • ally costs, attorney,' Ices and expenses we ha%c to pay under this Policy COVERED TITLE RISKS This Polio covers the iotlossing title risk,, it they alfect 9- 01lie rshaserighIsarisingoutot Ica se%,contract,,Or %Our tit1C on the Pohi-v Bate. option,. L Someone else owns an interest in ,our title_ 10. Someone else has an easement on .OW land- 2. A document is not proper}} signed, scaled, acknow- 11. Your title is unmarketable, which allows another per - ]edged. or delivered. ,on to refuse w perform a contract to purchase, to 3 Foruery, fraud, duress, incompetency, incapacity or lease or to make a niortgage loan ilmpersonation- 12_ You are tGrced to rento%c your existing structure- 4 Defectl%C recordinst of an. document- other than a boundary «all or fence —because= 5- 1bu do not ha,e an% legal right of access to and from ■ it extend, on to adjoining land or on to any the land- easement G. Tlicreare restrigtkccovenantslimiting �ouruse ofthe • i[siolatesarestriction shown InSchedule R land. • it Violates an existing zoning lass There i, a lien on your title because ol`, 13- You cannot use the land because use as asingle-family • a mortgage or steed of trust residence violate, a restriction shossn in Schedule A • a Judgment, tax, or special assessment or an exi,titlE 70rl111g lass'- • a charge by a homeouner's or condominium 14- O:hcr detects, liens, or encumhrancrs- assOCiation. 8_ There are liens um your title, arising now or later, for labor and material furnished before the Policy Date— unlcs you agreed to pay for the labor and material COMPANY'S DUTY TO DEFEND AGAINST COURT CASES %tie „ill defend your title in an,. court case as to that part of [tic case that I, bascd on a Co%ercd Title Risk insured against by this 11011c}- %%e will pay the costs, attorneys' ices, and expense, %vc incur in that defense_ We can end this dut. to defend your title by exercising any of our options listed in Item 4 of the Condition% rhis poly} i, not compicic without Schedules A and A. • do TITLE INSURANCE CUMPANY 49 RESIDENTIAL TITLE INSURANCE POLICY F-1104-i"Alm POLICY NUMBER: OR 30-030580 ORDER NO. 216721-3 POLICY DATE: MARCH 10, 1994 AT: 3:59 P.M. POLICY AMOUPTT: $114,000.00 POLICY PREMIUM: $432.08 1. NAME OF INSURED: 2. YOUR INTEREST IN THE LAND COVERED BY THIS POLICY IS: A CzOI,IDOMIlVICa+'I AS DEFINED IN SECTION 783 OF THE CALIFORNIA CIVIL CODE, IN FEE. 3. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS: PARCEL 1: UNIT NO. 21, CONSISTDC OF CERTAIN AIRSPACE AND SURFACE ELFIETIS, AS M)V V AND DESCRIBED IN THE CONDQMINI[M PLAN ( "PLAN") FOR BRISAS DEL MAR LocC TED ON Lor 1 OF TRACT 14757, AS ON A SUBDIVISION MAP RECORDED ON SEMU43M 1, 1993, IN BOOK 701, PAGES 42 THROUGH 43, INCLUSIVE OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE ORANGE COJTTY RECORDER ( "OFFICIAL RECORDS") , WHICH PLAN WAS RECORDED ON SEPIEMBER 15, 1993, AS INSIR vIENT NO. 93-0621742, OF OFFICIAL RECORDS, CALIFORNIA. PARCEL 2: AN UNDIVIDED ONE FORTY-FC?JRTH (1/44) FEE SIMPLE INTERFS'T AS A TENANT IN COMMON IN AND TO MODULE B SHOWN ON THE PLAN AND DEFINED IN THE DECLARATION REFERRED TO BELCW AS THE "COMM3N AREA". EXCEPT THEREFROM ALL, OIL, GAS, MINERALS AND aIHER HYDROCARBON SUBSTANCES LYING BELOW A DEPTH OF 500 FEET WITHOUT ANY RIGHT TO E[VIEft UPCgV THE SURFACE OR THE SUBSURFACE OF SAID LAND ABOVE A DEPTH OF 500 FEET, AS PROVIDED IN TNSTRU4ENI`S OF RECORD. • • • •EML 3: NONEXCLUSrVE EASEMYIS• - ACCESS, DKRZESS, EGRESS, USE, ENJOYM=, DRARV�GE, SUPPORT, MARTIUZANCE, REPAIRS AND FOR OTHER PUR.POSES, ALL AS MAYS1430V IN THEPLAN,Ii AS ARE DESCRIBED IN THE i �I b C • C. PARCEL, 4: EXCLUSIVE EASEMEIVIS APPURTENANT TO PARCELS NO. 1 AND NO. 2 DESCRIBED ABOVE FOR USE FOR PARKING PURPOSES DESCRIBED AS EXCLUSIVE USE AREAS IN THE DECLARATION, OVER PORTIONS OF LOT 1 OF TRACT 14757 SHOWN AND ASSICNED IN THE PLAN. PARCEL 5 : AN EXCLUSIVE EASEMENT APPURTENANT TO PARCELS NO. 1 AND NO. 2 DESCRIBED ABOVE, FOR USE FOR PATIO, BALCONY, AND FIRE ESCAPE STAIRCASE PURPOSES DESCRIBED AS EXCLUSIVE USE AREAS IN THE DECLARATION, AS APPLIG7 BLE, OVER PORTIONS OF LC7T 1 OF TRACT 14757 AS S110VIN, ASSIGNED AND DESCRIBED IN THE PLAN. Cat PA.: 216721-3 ALTA RESIDEwL406E INSURANCE POLICY PACE ND. : 2 TRW TITLE INSURANCE 02MPANY RESIDENTIAL TITLE INSURANCE POLICY EXCEPTIONS PART I 1 • 1� • • 1 'JI it >r • • '' • 1 ' �I� •. ,• 1 •4 ••� •• 1 91 It 9►f'�I -goo 1 Dem a•• 1. RIGHTS OR CLAIMS OF PARTIES IN POSSESSION NOT SHCET BY THE PUBLIC RECORDS. 2. EhXMACR0ENPS, OVERLAPS, BOLMARY LINE DISPU'I'FS, AMID ANY 0I1-1ER MATI'ER.S WHICH WOULD BE DISCLOSED BY AN ACG MTE SURVEY AND INSPECTION OF THE PREMISES. 3. EASEKWM OR CLAIMS OF EASEMTIS NOT SHOWN BY THE PUBLIC RECORDS. 191• • 31' 'I 171� 1 I••� SIB � A • • I I • • 3•• • �� 5. TAXES OR ASSESSMENTS WHICH ARE NOT SHOWN AS EXISTIW-, LIENS BY THE RECORDS OF ANY TAXM AUIH)RM THAT =ES TAXES OR ASSESSMENTS ON REAL PROP= OR BY ITHE PUBLIC RECORD. • • • CEE s •sue BY A PMLIC AGENCY WHICHMAY RESULT IN • f CY43ER ND.: 216721-3 PACE ND. .: 3 EXCEPTIONS PART I I: A. GENERAL AND SPECIAL TAXES, A LIEN NOT YET PAYABLE, FOR THE FISCAL YEAR 1993- 1994 . B. THE LIEN OF SUPPLEMENTAL TAXES, IF ANY, ASSESSED RRSUANT TO C! APTER 3.5 OOMME TCING WITH SECTION 75 OF THE CALIFORNIA REVENUE AND TAXATION CODE. 1. THE EFFECT OF A CaVVMTY OIL AND GAS LEASE EXECUTED BY LOUIS BENSON AND ELOISE B. BENSON, HIS WIFE AMID BY OTHER PERSONS AS TO OTHER LAND, AS LESSORS, AND BY ODLUMBIA LEASING AND DEVELOPING COMPANY, A CORPORATION, AS LESSEE, RECORDED NOVEMBER 6, 1920 IN BOOK 16, PAGE 198 AND RE-RFIJORDED AUCIST 11, 1921 IN BOOK 25, PAGE 247 OF LEASES, BOTH OF LEASES, TO WHICH RECORD REFERENCE IS MADE FOR FULL PARTICULARS. 2. AN EASEMENT FOR PIPE LIDS AND INCIDENTAL PURSES, AS (RANTED TO HUNTING'IL'7N BEACH COMPANY IN THE DEED RECORDED IN BOOK 319, PAGE 149 OF DEEDS, OF OFFICIAL RECORDS, ALaIG THAT PORTION OF SAID LAND AS MORE PARTICULARLY DESCRIBED IN SAID INSTRUMENT. 3. OMUWTrS, C(MITIC NS AND RESTRICTIONS IN AN 12,0M 01E W RECORDED IN BOOK 319, PAGE 149 OF DEEDS, OF OFFICIAL RECORDS. THE PROVISIONS, IF ANY, OF SAID INSIRLN1rNT WHICH PROVIDE RE= CTIONS BASED ON RACE, COLOR, RELIGION OR NATIONAL ORIGIN ARE DELETED. 4. AN EASEMENT FOR PIPE, POLE LINES AND INCIDENTAL PURPOSES, AS GRANTED TO PETROLEUM MIDWAY COMPANY, LTD., IN THE DEED RECORDED IN BOOK 578, PAGE 269 OF DEEDS, OF OFFICIAL RECORDS, ALOM THAT PORTION OF SAID LAND AS MORE PARTICULARLY DESCRIBED IN SAID INSTRUMENT. �r s•ia �• Ir • rlll �' •� •\ �i7'•L� � e!•i1r �• � �rl•�•T'itl OFFICIAL RDODRDS, ALIONG THAT PORTION OF SAID LAND AS MORE PARTICULARLY DESCRIBED IN SAID INSTRUMENT. 6. AN EASEVENT FOR PIPE LINES AND INCIDENTAL PURPOSES, AS GRANTED TO STAN ARD OIL OOMPANY OF CALIFORNIA AND STAAIDARD GASOLINE Q3MPANY, IN THE DEED RECORDED IN BOOK 3577, PAGE 119 OF OFFICIAL RECORDS, AL qG THAT PORTION OF SAID LAND AS MORE PARTICULARLY DESCRIBED IN SAID INSTRUMENT. � 1• • - 1 i Ir 1 1 � • •-s: Z r.- •� �I• i I � �N • I•' ••-m"gampts, em 1 1 mmj Don' p . • gj7v ;f-s—ej omale! • OFFICIAL RECORDS, ALCXVG THAT PORTION OF SAID LAND AS MORE PARTICULARLY DESCRIBED IN SAID INSTRLMJT. B. AN EASEmEgr FOR PUBLIC UTILITIES AND INCIDENTAL PURPOSES, AS GRAN= To THE COAL TELEP DNE Ca IPANY OF CALIFORNIA, A CORPORATION, IN DEED RECORDED AS INSTRUMENT NO. 87-440298 OF OFFICIAL RECORDS, ALONG THAT PORTION OF SAID LAND AS MORE PARTICULARLY DESCRIBED IN SAID INSTRUMENT. SAID DEED PROVIDES THATNO BUILDING OR SIRLIM)RE SHALL ••E •- ur= iU_ 1�W& ON • • 7D to �\E • •' 11 • L • 1 ' i. • Ill •i 9l 1• �� �� Ill 91� CIRE32 NO-: 216721-3 PACE NO. : 4 40 10. a` s•&Y•'• � r : r x A`II I I91` r• r l=•: • ee�T 2r i SWIHERN CALIFORNTA EDISON COMPANY,OMPORATION,IN DEED RECORDED INSIRLMENT NO. 87-534842 OF OFFICIAL RECORDS, ALONG THAT PORTION OF SAID LAND AS MORE PARTICULARLY DEWKISED IN 11. AN EASEMENT FOR WATER MAIN AMID INCIDENTAL PURPOSES, AS GRANTED TO THE CITY OF HUNTDMON BEACH, A MUNICIPAL CORPORATION IN THE DEED RECORDED AS INSTRUMENT NO. 87-583411 OF OFFICIAL RECORDS, ALONG THAT PORTION OF SAID LAND AS MORE PARTICULARLY DESCRIBED IN SAID INSTRLMSiT. 12. THE EFFECT OF A SUBSURFACE OIL AND GAS LEASE, EXECUTED BY GILBERT M. WILSON AMID ELEANOR E. WILSON, HUSBAND AMID WIFE, AS LESSWR, AND ANGUS PETROLEU4 CtORPORATION, A DELAWARE CORPORATION, AS LESSEE, RECORDED APRIL 18, 1989 AS INSTRUMENT NO. 8 9 - 2 0184 8 OF OFFICIAL RECORDS, COVERING THE LAND LY IWj BELOW A DEPTH OF FIVE HUNDRED (500) FEET FROM THE SURFACE THEREOF, WITHOUT THE RIGHT OF SURFACE ENTRY ABOVE SAID DEPTH, FOR THE PERIOD AND UPON THE TERMS, C0VEK*iIS AND CONDITIONS THEREIN PROVIDED, REFERENM BEING MADE TO THE RECORD THEREOF FOR FULL PARTICULARS. 13. THE TERMS, PROVISIONS AND CONDITIONS CONTNINED IN A DOCUMENT ENTITLED "DECLARATION OF RESTRICTIONS AND SUBDIVISION CONSENTS", EXECUTED BY DELAWARE II, A CALIFORNIA LIMITED PARTNERSHIP, RECORDED APRIL 6, 1993 AS INSIRLMENTT NO. 93-0230267 OF OFFICIAL RECORDS. 14. THE FACT THAT THE CAS OF SAID LAND HAVE NO RIGHT OF VEHICULAR ACCESS TO DELAWARE STREET, UTICA AVENUE AND CALIFORNIA STREET, EXCEPT AT SPECIFIED POINTS, SAID RIGHTS HAVING BEEN RELIlQQLTISHED BY DEDICATION PROVISIONS ON THE MAP OF SAID TRACT. 15. AN INSTRUMENT ENTITLED PLAN" RECORDED SEFIEMEER 15, 1993 AS ITLS UMENr NO. 93-0621742 OF OFFICIAL RECORDS; REFERENCE BEING MADE 'IC) THE RECORD TUEPMF FOR FULL PARTICULARS. 16. MATTERS IN AN INSTRUMENT WHICH AY13M C7IHEit THINGS CONTAIN OR MAKE PROVISIONS FUR ASSESSMENT'S AND LIENS AND THE SUBORDINATION THEREOF; PROVISIONS RELATING TO PARTITION; RESTRICTIONS ON SEVERABILITY OF CU4PONENTT INTERESTS; PROVISIONS FUR CERTAIN EASEMENTS AND/OR ; AND CONTAINING 031M 1N S, CONDITIONS AND RFSIRICTICIZ WHICH PROVIDE THAT A VIOLATION THEREOF SHALL NOT DEFEAT OR RENDER INVALID THE LIEN OF ANY MORTGAGE OR DEED OF TRUST IN GOOD FAITH AND FOR VALUE, RECORDED, AS E-19MUvENT NO. 93-0625045 OF OFFICIAL RECORDS. THE PROVISIONSS, IF ANY, OF SAID INSTRUMENT WHICH PROVIDE RESTRICTIONS BASED ON RACE, ODLOR, RELIGION OR NATIONAL ORIGIN ARE DELETED. SAID INSTRUvENNT MAY PROVIDE FOR LEVYING REGULAR AS WELL AS SPECIAL • r` •III I •� •r.�l •-• • •I i•: • r la+r I I •:• =IONED a• ►• =ITIONS AND PESTRICTICNS,1 PROVIDE THf• 1 LIENS AND CHARGES FOR UPKEEP AND YAINTENANCE ARE SUBORDINATE ONLY TO A FIRS-11 MORqUAGE. AN - i llj RES-IRICTIONS WAS RECORDED, AS INSTRUlE2,7T NO. 93-0680846, OF OFFICIAL • a• - rS Of4iR NO.: 216721-3 PAGE NO. : 5 4b % COMMON17. EASEMENTS FOR DXRESS AND EGRESS, PARKING, PIPELINE, DRAINAGE, SANITARY SEWERS, PUBLIC UTILITIES, SLOPES AND RIG= INCIDENTAL THERETO, AS DISCLOSED BY INSTRUMENTS OF RECORD AND THE MAP OF SAID TRACI, AFFECTING ONLY THE 18. MATTERS IN AN INSTRUMENT MUCH AMONG OIRER THINGS CONTAIN OR YAKE PROVISIONS FOR ASSF-0,0VENTS AND LIENS AND THE SUBORDINATION THEREOF; PROVISIONS RELATING TO PARTITION; RES=CT`I•: ON EI' • : • OF COM!PCNENT INTERESTS; PROVISIONS F• ' CERTAIN E• • E AND/OR ENCROACHMENTS; • I• •• Y• 1 1 COVa,lANTS,CONDITIONS • D RESTRICTIONS WH• PROVIDE TH/• • VIOLATION Tl-JEREOF SHALL NOT DEFEAT OR RENDER INVALID THE LIEN OF ANY NEMIGAGE OR DEED OF IN GOOD • I/ FOR VAUJE,RECORDED, AS 1 ICI NO. 93- 0635859, OF OFFICIAL RECORDS. THE PROVISIONS, IF ANY, OF SAID INSIRUvMT WHICH PROVIDE RESTRICTIONS BASED ON RACE, COLOR, RELIGION OR NATIONAL ORIGIN ARE DELETED. SPECIAT- ASSESSMENTS. 19. COVENANTS, CONDITIONS AND RESTRICTIONS, (DELErlw. THmEFFcm ANY RESTRICTIONS BASED ON RACE, COLOR, OR CREED), AS PROVIDED IN A DOCUTv= RECORDED MARCH 1 1994 AS INSTRUMENT NO. •• OF OFFICIAL RECORDS. 20. DEED OF TRUST TO SECURE AN INDEBTEDNESS. AMOU T!': $71, 000.00 TRUS IOR: BARBARA J. DIECIQ =, A SINGLE WOMAN TRUSTEE: FIRST BANCORP, A CALIFORNIA CORPORATION BIINEFICIARY: SANWA, BANK CALIFORNIA, A CALIFORNIA CORPORATION DATED: FEBRUARY 17, 1994 RECORDED: MARCH 10, 1994 AS INSTRUV= NO. 94-171723, OF OFFICIAL RECORDS 21. DEED OF TRUST TO SECURE AN INDEBTEDNESS. AMOUNI': $23,000.00 TRUSIOR : BARBARA DIEC[ 4= TRUSTEE: THE CITY OF HUNTINGTON BEACH, A MUNICIPAL CORPORATION BENEFICIARY: THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTIlDMION BEACH DATED: MARCH 7, 1994 RECORDED: MARCH 10, 1994 AS INSTRUMENT NO. 94-171724, OF OFFICIAL RECORDS 22. DEED OF TRUST TO SECURE AN INDEBTEDNESS. AMOUNT: $10,000.00 TRUE OR : BARBARA DIECKMEYER TRU=: THE REDEVEOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH BENEFICIARY: THE CITY OF HUNTINGTON BEACH, A MUNICIPAL CORPORATION DATED: MARCH 7, 1994 RECORDED: MARCH 10, 1994 AS INSTRUMENT NO. 94-171725, OF OFFICIAL RECORDS CONDOMINIUM PLAN ?--UNIT AIRSPACE DIMENSION PLAN: BUILDING "B" UPPER LEVEL UNITS 12 THRU 22 NOTES: / C—/ -;, —f ) �� Ui a- re�•oo'oo• 1" = 8' 1. * INDICATES COMMON BUILDING CONTROL POINT. 2. SEE SHEET 6 FOR BOUNDARY PLAT. 3. SEE SHEET 7 FOR BUILDING LOCATION PLAN. 4. SEE SHEETS 8 THRU 19 FOR UNIT AIRSPACE DIMENSION PLANS. 5. SEE SHEETS 20'THRU 23 FOR SCHEDULES OF TYPICAL UNIT VERTICAL SECTIONS 6. SEE SHEETS 24 THRU 27 FOR TYPICAL UNIT VERTICAL SECTIONS. 7. SEE SHEET 28 FOR OPEN PARKING LOCATION PLAN. Ift Page 2 EXCLUSIONS In addition to the Exception in Schedule B. you are not insured against loss, costs, attorneys' fees, and expenses resulting from: I Gosernmenial police power, and the existence or violation of any labs or go%crnmertt regulation 'I his includes building and Toning ordinances and also laws and regulations concerning- • land use • improvements on the land ■ land division • environmental protection This exclusion does not apply to violations or the enforcement of these matters which appear in the public records at Polio} Date - This exclusion does not limit the Toning coverage described in Items 12 and 13 of Covered Title Risks- 2. The right to take the land by condemning, unless. • a notice of exercising the right appears in the publ'c records on the Policy Date • the taking happened prior to the Polic3• Dare and is binding on you if you bought the land w ithout knowing of the taking 3. Title Risks: • that are created, allowed, or agreed to by you • that are known to you, but not to us, on the Police Date unless they appeared in the public records • that result in no loss to you • that first affect your title after the Policy Date —this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4. Failure to pay value for your title- 5-'I -ck of a right- • to any land outside the area specifically described and referred to in Item 3 of Schedule A or • in streets, alleys, or waterways that touch your land - This exclusion does not limit the access Coverage rn Item 5 of Covered Title Risks - CONDITIONS DEFINITIONS a- Easement—ihe right of tionteonc else io use your land for a special purpose. b. Land —the land or condominium unit described in Schedule A and any improvements on the land which are real property. c- M9orlgag—a mortgage, deed of trust, trust deed or - other security instrument- d. Public Records —title records that give constructive notice of matters affecting your title —according to the state statutes where your land is located. c. Titic—the ownership of your interest in the land, as shown in Schedule A. 2- CONTINUATION OF COVERAGE This policy protects you as long as you: • own your title or • own a mortgage from anyone who buys your land or • are liable for any title warranties you make "This policy protects anyone who receives your title because of your death- 3- HOW TO MAKE A CLAIM a. You Must Give The Company Notice Of Your Claim If anyone claims a right against your insured title, you must notify us promptly in writing - Send the notice to TRW Title Insurance Company, 680OColtege Blvd., Suite 2W, Overland Park, Kansas. Please include the Policy number shown in Schedule A, and the county and state where the land is located. Our obligation to you could be reduced if: • you fail to give prompt notice and • )our failure affects our ability to dispose of or to defend you against the claim b. Proof Of Your loss Must Be Given To the Company You must giVe us a written statement to prove your claim of loss- This statement roust be given to us not later than 90 days after you know the facts which will let you establish the amount of your loss. The statement must have the following facts- • the Covered Title Risks which resulted in your loss • the dollar amount of your loss • the method you used to compute the amount of Your loss You may want to provide us with an appraisal of your loss by a professional appraiser as a part of your state- ment loss. We may require you to show us your records, checks, leners, contracts, and other paper w }rich relate to your claim of loss- 'We map make copies of these papers. We may require you to answer questions under oath. Our obligation to you could he reduced if you fail or refuse to: • provide a statement of lush or • answer our questions under oath or • show us the papers we request, and • your failure or refusal affects our ability to dis- pose of or to defend you against the claim- 2W (Continued) asPage 3 4. OUR CHOICES WHEN YOU NOTIFY US OF A CLAIM Afler we rcccivc your clairn notice or in any oilier µay learn of a matter for %%hich we arc liable, %%C can do one or more of the 101lovyinu a. Pay the claim against your title. b. Negotiate a settlement. c. Prosecute or defend a court case related to the claim. d_ Ilay you the amount required by this Policy. e Take other action which will protect you f. Cancel this Policy by paying the Policy Amount, then in force, and only those costs. attorneys' fees and expenses incurred up to that time which µe are obli- gated to pay. 5 HANDLING A CLAIM OR COURT CASE Nbu must cooperaievyiih us In handling any claim or tour[ case and give us all relevant information. We arc required to repay you only for those sculemenr costs, attorneys Ices and expenses that vie approve In advance. When we defend your title, we have a right to choose the attorney. We can appeal any decision to (he highest court. VVC do not hale to par. your claim until your case is finally decided. 6 LIMITATION OF THE COMPANY'S LIABILITY a- W'c will pay up to your actual loss or the Pohc� Amount in force when the claim is made —whichever is less b If we remove the claim against your title within a reasonahlc time after receiving notice of it, we will have no further liability for it - If you cannot use any of your land because of a claim aginsl your title, and you rent reasonable substitute ]and or facilities, we will repay you for your actual rent until- + the cause of the claim is removed or • we settle your clan c_ The Policy :Amount vv ill be reduced by all payments made under this Polio} --except for costs, attorneys' fees and expenses. d. The Policy Amount will be reduced by any amount we pay to our insured holder of any mortgage sho%%n in this Policy or a later mortgage eiven by you. Countersigned by: AUTHORIZED OFFICER OR AGENT 2 e. If you do anythrne to affect airy right of Tecovery you may have, we can suhrract front our habitity the amount by which you reduced the valur of that right 7 TRANSFER OF YOUR FLIGHTS When we settle a claim, we have all the right% you had against any person or property related to the claim. }Litt must transfer these riehis to us when %%e ask. and you nnnt nor do anything to affect these rights Nou must let us use your name in enforcing these rights_ We %sill not be liable to you if we do not pursue these right% or if we do not recover any_ amount that rnieht be re- co,,erablc. Wiih the money we recover from enforcing these rights, we «ill pay whatever part of your loss tic have not paid - We have a rich[ to keep what is left. $_ ARBITRATION if it is permitted in your state, you or the Company may demand arbitration The arbitration shall be binding on both you and the(:orn- pany_ The arbitration shall decide any rnalter in dispute between you and the Company The arbitration award may: • include attorneys' fees if allowed by state law: • he entered as a judgment in the proper court. The arbitration shall be under the Title Insurance Arhitra- (ion Rules of the .American .Arbitration Association. You may choose current Rules or Rules in existence on Policy Date_ The laµ used in the arbitration rs the lays of the place where the property is located }ou can get a copy cif the Rulcs from the Company 9. OUR LIABILITY IS LIMITED TO THIS POLICY This Policy, plus any endoncments, is the entire contract bctv.cen you and the Company_ .Any claim you make against us must be made under this Policy and is subject to its terns. TRW Title Insurance Company r; JULt PRESIDENT SECRETARY RECEIVED OTY C-LERK OI7 � OF HUHTNGTOK tr- H.: -' _JF. AUG 8 3 32 Ph '94 CITY OF HUNTINGTON BEACH NOTICE OF RIGHT OF RESCISSION AFFORDABLE HOUSING PROGRAM Notice To Customer Required by Federal Law: You have entered into a transaction on March 1 , 19 94 , which may result in a lien, mortgage or other security interest on your home. You have a legal right under federal law to cancel this transaction, if you desire to so, without any penalty or obligation within three business days from the above date or any later date on which all material disclosures required under the Truth in Lending Act have been given to you. If you so cancel this transaction, any lien, mortgage, or other security interest on your home arising from this transaction is automatically void. You are also entitled to receive a refund of any down payment or other consideration if you cancel. If you decide to cancel this transaction, you may do so by notifying City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 Attn: Housing Dept. by mail or telegram sent not later than midnight of March 3 1994 You may also use any other form of written notice identifying the transaction if it is delivered to the above address not later than that time. This notice may be used for that purpose by dating and signing below. I hereby cancel this transaction. (Date) (Participant's Signature) SEE NEXT PAGE FOR IMPORTANT INFORMATION ABOUT YOUR RIG} II" 01- RESCISSION. EXPIRATION OF RESCISSION PERIODS Direct Loans (Truth in Lending - Real Estate and Horne Improvement Loans) P . ticjW nest's Name Lopn AmoUnt _ A� r s*QResidenr Barbara Dieckmeyer $10,000.00 409 Utica Ave. B-21, Huntington Beach In connection with the Agreement of the City of Huntington Beach to make the loan described above, which will be secured by a deed of trust on the residence at the above address, each of the undersigned hereby represents as follows f. The undersigned understands the terms of this Agreement and its attachments. 2_ The undersigned has been notified that it must inform the City of Huntington Beach by today's date should any of them desire to rescind or terminate this transaction. 3 The undersigned acknowledges that this loan has not been funded for at least three days from the date of execution, in order to provide them with an opportunity to rescind should they so desire- 4 The City of Huntington Beach agreed, subject only to the occurrence of certain conditions, to make the above described loan and delivered to each undersigned a Disclosure Statement setting forth terms of said loan and a Notice of right of Rescission advising each undersigned of their right to rescind and cancel said transaction in accordance with the Truth in Lending Act on or before the date the undersigned executed this document- 5 Prior to the date shown above, no proceeds of said loan have been disbursed to or for the benefit of any of the undersigned. 6 None of the undersigned have canceled or rescinded the above described loan transaction nor have any of the undersigned notified said Agency of any intention to cancel or rescind said loan transaction The undersigned request the City of Huntington Beach to proceed with the making of the above described loan in reliance u n the foreoorng representations A�- (Participant's SignatUre) (Date) (Participant's Signature) (Date) ACKNOWLEDGMENT OF RECEIPT OF TWO COPIES OF NOTICE Each of the undersigned hereby acknowledges receipt of two completed copies of the Notice of Right of Rescission. 0 (Participant's Signature) (Date) (Participant's Signature) (Date) EFFECT OF RESCISSION. When a customer exercises his right to rescind he is not liable for any finance or other charge, and any security interest becomes void upon such a rescission. Within ten (10) days after receipt of a notice of rescission, the creditor shall return to the customer any money or Property given as earnest money, down -payment, or otherwise, and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. If the creditor has delivered any property to the customer, the customer may retain possession of it. Upon the performance of the creditors obligations under this section, the customer shall tender the property to the creditor, except that if return of the property in kind would be impracticable or inequitable, the customer shall tender its reasonable value. Tender shall be made at the location of the property or at the residence of the customer, at the option of the customer. If the creditor does not take possession of the property within ten (10) days after tender by the customer• ownership of the Property vests in the customer without obligation on his part to ,pay for it. 0 Recording Requested By And When Recorded Return To: City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 Attn: Department of Economic Development Property Address: 409 Utica Avenue B-21, Huntington Beach CITY OF HUNTINGTON BEACH LOAN ASSISTANCE DISCLOSURE STATEMENT INVe RART3ARA CjrCKMP-X 'R ("Applicant") understand and agree that the provision of financial assistance from The City of Huntington Beach ("City") is conditioned upon a number of factors, including, but not limited to: • I/We must qualify for a home loan from an institutional lender acceptable to the City. • I/We must pay at least 3 % of the home purchase price from our own funds. • INVe must qualify for assistance under the guidelines of the City's Program. INVe further understand and agree that: • I/We will be responsible for repaying the loan at the time Uwe sell, transfer, refinance, or no longer occupy my/our home, or breach any part of the Loan Agreement. • INVe have a right to cancel or rescind this loan at any time prior to midnight on the third business day after the loan agreement is signed by sending a notice of my/our decision to rescind or cancel the loan to: City of Huntington Beach 2000 Main Street, P.O. Box 190 Huntington Beach, CA 92648 Attn: Department of Economic Development 71disci,�m /94 The City will not require me/us to make payments of principal or interest during the term of the loan. The full balance of principal and interest will be due and payable if Itwe do not comply with the terms of the agreement to which this statement is attached. There are no loan closing costs, prepayment penalties or charges, points, fees, finance charges, service charges, investigation fees, credit report fees, insurance premiums, notary or escrow fees, late payment charges or other fees payable pursuant to this loan. An appraisal fee may be payable upon the refinancing of my/our house. • The City shall not be held responsible for any costs associated with the institutional loan for the home I/we purchase with such assistance including, but not limited to, any loan fees or charges, any charges for appraisals, or any escrow costs or other costs relating to the transfer of property. The City cannot ensure that information provided by or on behalf of Applicant will be kept confidential. • The City shall not be responsible for the selection of a home by the Applicant, the selection of a lender providing funds assisting in the purchase of the home, providing information concerning other public or private sources of loans, or the competitiveness of the terms of the Program. I/we assume all responsibility for determining whether I/we desire to be considered for the Program, and I/we will inform myself/ourselves as to the availability and terms of other public or private loans. • The City shall not be charged with knowledge of the contents of the documents of the primary lender. 2 7Wisctsw2/17i49 • The City financial assistance I/we receive under this Program may be considered to be income for purposes of federal or state income taxes and the City shall not be held responsible for the payment of any taxes which Vwe may incur by virtue of the receipt of such financial assistance. Dated: Signature of applicant Dated: Signature of applicant Dated: Signature of applicant APPROVED AS TO FORM: �� W4�z� � - C me fah � A `7 74hsr,N, 02J10M r PROMISSORY NOTE Property Address 409':utica Ave. B-21 Huntington Beach, California MARCH 7 , 1994 1. Promise to Pay. BARBARA DIEC=YER ("Borrower") promises to pay the CITY OF HUNTINGTON BEACH, a municipal corporation ("Holder," also referred to as "City"), at the office of the City in Huntington Beach, California, or at such other place as the Holder may designate In writing, the principal sum of Ten Thousand and No/100-------- Doilars ($10, 009 (the "Note Amount"), together with interest. - The balance of all unforgiven unpaid principal and accrued Interest shall be due and payable on the 30th anniversary date of this Promissory Note. 2. Interest Rate Except as herein provided, interest shall be charged by the City on the portion of the Note Amount remaining unpaid from time to time, from the date of the disbursement of the Note Amount until the date upon which the Note Amount is repaid, at the simple rate of five percent (5%) per annum. 3. Affordable Housing Agreement This Promissory Note is made and delivered pursuant to and in implementation of an Affordable Housing Agreement recorded on the property as a covenant binding upon Borrower (the "Agreement"), a copy of which is on file as a public record with the Holder and is incorporated herein by reference, and a Loan Agreement between Borrower and City dated 03-7-94 . This Promissory Note is attachment "B" to the Loan Agreement. 4. A. Acceleration Except as otherwise provided herein, the whole of the Note Amount, any interest accrued thereon, and all other payments due hereunder and under the Agreement shall, at the option of the Holder, become due and be immediately payable to the Holder by the Borrower upon the occurrence of any one of the following events: (1) Borrower sells, transfers or makes disposition of the Property in whole or in part, including, without limitation, the lease, exchange or rental of the Property or any interest therein, whether voluntary or involuntary; (2) Borrower refinances any lien or encumbrances to which the City Deed of Trust is subordinate for loan amount in excess of the then current loan balance secured by such lien or encumbrance; (3) Borrower fails to occupy the Property as Borrower's principal residence pursuant to the Loan Agreement or is in breach or default of any other obligation under the Agreement or violates the terms of the Affordable Housing Agreement or Affordable Housing Covenant; (4) The close of a probate estate following the death of Borrower (unless Borrower is more than one person and one or more of.the other people comprising Borrower survive); 7/loandoc/citypromnote/02/ 14/94 • l - (5) Borrower defaults on this Promissory Note; (6) Borrower defaults on the Agency Deed of Trust. In the event that there is a default in payment as scheduled herein or a default under the terms of the Deed of Trust securing this Note, or a default of the Agreement or in any other instrument executed by Borrower or any guarantor in favor of the City, the City may at its election declare all amounts of the outstanding principal and accrued interest thereon immediately due and payable. 5. Application of Payments Any sums received hereunder may, at the options of Holder hereof, be applied in any order to the payment of costs, interest, or principal due hereunder. 6. Prepayment Privilege is reserved to make prepayments of principal on this Note without penalty or fee. 7. Non -Waiver Failure to exercise any right the Holder may have or be entitled to, in the event of any default hereunder, shall not constitute a waiver of such right or any other right in the event of subsequent default. 8. Borrower's Waivers The Borrower and all guarantors and endorsers hereof hereby severally waive certain requirements of the City. These are: a) to demand payment of amounts due (known as "presentation for payment"), b) to give notice that amounts due have not been paid (known as "notice of dishonor") and c) to obtain an official certification of nonpayment (known as "protest"). Borrower consents that the Holder hereof may extend the time of payment or otherwise modify the terms of payment of any part or the whole of the debt evidenced by this Note, by agreement between the Holder and Borrower, and such consent shall not alter or diminish the liability of any person or the enforceability of this Note. Each and every party signing or endorsing this Note binds itself as a principal and not a surety. In any action or proceeding to recover any sum herein provided for, no defense of adequacy of security, or that resort must first be had to security or to any other person shall be asserted. All of the terms, covenants, provisions, and conditions herein contained are made on behalf of, and shall apply to and bind, the undersigned and its successors and assigns, jointly and severally. 9. Collection Costs If any attorney is engaged by the City to enforce or construe any provision of this Note or the Deed of Trust, or if City incurs any other expense by virtue of collecting sums due to the City under this Note, as a consequence of any default or event of default hereundere, with or without the filing of any legal action or proceeding, then Borrower shall immediately pay upon demand all attorney fees and all other costs incurred by the City, together with interest thereon from the date of such demand until paid at the rate of interest K 7/1oan doc/c ityp rom note/02/22/94 applicable to the principal owing hereunder as if such unpaid attorney fees and costs have been added to the principal. 10. Security of Note This Note is secured by a Deed of Trust (The "Deed of Trust") of even date herewith executed by Borrower covering property located in Orange County, State of California, together with the buildings and improvements now or hereafter erected thereon. 11. Maximum Interest No provision of this Note or any instrument securing payment hereof or otherwise relating to the debt evidenced hereby shall require the payment or permit the collection of interest in excess of the maximum permitted by applicable law. If any excess of interest in such respect is herein or in such other instrument provided for, or shall be adjudicated to be so provided for herein or in any such instrument, the provisions of this paragraph shall govern, and neither Borrower or any endorsers of this Note nor their respective heirs, personal representatives, successors or assigns shall be obligated to pay the amount of such interest to the extent it is in excess of the amount permitted by applicable law. 12. Business Purpose The undersigned warrants and represents that all funds advanced under this Note shall be applied and are Intended solely for personal, family or household purposes as set forth in the Agreement and not for any business or commercial purposes. 13. Notice Any demand or notice to be made or given under the terms hereof or any instrument now or hereafter securing this Note by the Holder to Borrower shall be effective when mailed or delivered in the manner specified in the Deed of Trust. 14. Payments Deferred All interest and principal payments will be deferred so long as the Borrower is in compliance with the terms of this Note, the Affordable Housing Covenants or Agreements recorded on the Property, the Deed of Trust and the Loan Agreement and uses the Property as his personal primary residence. 1N WITNESS HEREOF, this instrument has been executed as of the date set forth below. p DATE: 15J4-- DATE: APPROVED AS TO FORM: orney lA G� 7 7/loandoc/citypromnote/02/ 14/94 3 SIGNATORY B "Borrower" By "Borrower" CITY OF HUNTINGTON BEACH By:_- Its:�. C—ra. i LOAN AGREEMENT THIS LOAN AGREEMENT (the "Agreement") is made this 7TH day of MARCH , 19 94 by and between BARBARA DIECKMEYER ("Participant") and THE CITY OF HUNTINGTON BEACH, a municipal corporation ("City"). RECITALS A. Participant has entered Into an agreement (the "Purchase Agreement") to purchase that certain real property commonly known as 409 Udca Avenue, B-21, Huntington Beach, California, and more particularly described in Exhibit "A" attached hereto and Incorporated herein ( the "Property"). B. Participant requires assistance to purchase the Property and would not be able to purchase the Property without such assistance. Participant is a person or family of low or moderate Income and currently earns less than 79% of the current annual median income for the Orange County area, as those terms are defined by California Health and Safety Code Section 50093. C. Participant has represented to City that Participant and Participant's Immediate family intend to reside In the Property at all times throughout the term of this Agreement. D. City desires to utilize Community Development Block Grant funds in a manner consistent with federal guidelines to assist persons of low and moderate Income to purchase residential property to Increase, improve, and preserve low and moderate income housing available at an affordable housing cost within the City of Huntington Beach. E. The City wishes to lend, and Participant wishes to borrow, Program funds to assist Participant to purchase the Property upon the terms and conditions set forth herein. NOW, THEREFORE, for good and valuable consideration the parties agree as follows: 7\,nemo\loankk\83093/12:12 PM 0 L 1. City Loan City shall loan to Participant (the "Loan") the amount of Ten Thousand and no/ 100 Dollars ($10,000.00), subject to the conditions and restrictions set forth herein, in the Promissory Note, the Disclosure Statement for the Program, the Deed of Trust and all applicable State, local and federal law. The Loan shall be paid to the seller of the Property (the "Seller") by the City through deposit of the Loan proceeds into escrow with TIEMPO ESCROW (the "Escrow Agent") (Escrow No. 6672-1. ). The City shall direct the Escrow Agent to apply the proceeds of the Loan or, behalf of Participant to the purchase price of the Property, and, at Participant's election, to the costs of closing, escrow fees, recording fees, loan points and fees, and/or document fees. At such time, Participant shall execute and deliver to the City a promissory note In favor of the City as holder, In the amount of the Loan, with Interest accruing at five percent (5%) per year, substantially in the form of the "Promissory Note" attached hereto as Exhibit "B" and Incorporated herein. Participant shall also execute and deliver to the City a deed of trust encumbering the Property which shall secure the Promissory Note (the "Deed of Trust"), substantially in the form of Exhibit "C" attached hereto and incorporated herein. 2. Maintenance of Property. Participant shall maintain the Improvements on the Property in a manner consistent with community standards and in a manner which will uphold the value of the Property, and shall keep the Property free from any accumulation of debris and waste materials. Participant agrees to comply with any and all covenants and agreements established by any homeowner's association or other regulatory entity recognized by area property owners and comply with all applicable federal, state and local laws, including conditions of approval which may apply to the Property pursuant to an entitlement issued by the City. 3. Acceleration/Due on Sale. Except as herein provided, the Loan and all Interest accrued thereon shall be due and payable upon (1) such sale, transfer, or other disposition of the Property, including, without limitation, lease, exchange or rent of any part of the Property, (11) the refinancing of the First Mortgage for a loan amount In excess of the then current loan balance or for any amortization period longer than the loan secured by the First Mortgage, or (111) Participant 1s In material default of any other obligation contained in this Agreement or any provision of the Affordable Housing Agreement or Covenant (Attachment "D" to this Agreement), as defined herein, recorded on the property, or (iv) Participant violates any condition of the deed of trust or promissory note, or (v) the death of Participant (unless the Participant's household, occupying the property, contains more than one Qualified participant and at least one qualified participant survives). 2 Amemo\Loankk\83093/12:13 PM 4. Notice to City. Participant agrees to notify the City not less than thirty (30) days prior to (i) the sale or transfer of the Property or (11) any refinancing of the lien of the First Deed of Trust (the "First Mortgage") or any lien to which the lien of this Deed of Trust Is subordinate. S. Occupancy Standards. The Property shall be used as the personal residence of Participant and Participant's Immediate family and for no other purpose. Participant shall not enter Into an agreement for the rental or lease of the Property. b. Income Information. Participant has submitted an eligibility verification form to the City prior to execution of this Agreement. Participant represents and warrants to the City that all information Participant has provided and will provide In the future Is and will be true, correct and complete. Participant acknowledges that the City 1s relying upon Participant's representations that Participant's income does not exceed 79% of the area median income and would not have entered this Agreement if Participant's Income exceeded 79% of the area median Income. 7. First Time Homebuyer. Participant represents and warrants to the City that neither Participant nor any of Pardclpant's Immediate family residing in the Property has, or has had, a present ownership interest In a principal residence at any time during all or any part of the three (3) years immediately prior to the funding of the City Loan. 8. Loan Servicing. The City may contract with a private lender to originate and service the City Loan. 9. Participant Financing. Participant shall obtain financing for the purchase of the Property from a reputable institutional lender approved by the City (the "Lender"). In addition, not less than three percent (3%) of the Purchase Price of the Property shall be paid In cash from Participant's own resources and not from the proceeds of a loan. 10. Covenants. Recorded in the Official Records of Orange County, California, Is a declaration of conditions, covenants and restrictions for property, which is known as an Affordable Housing Agreement or covenants which is attached as Exhibit "D" hereto and Incorporated herein. Participant agrees that the Property shall only be owned by Participant or other persons or families of low or moderate income available at an affordable housing cost, as those terms are definedin the Affordable Housing Agreement, and that Participant shall not discriminate against any person or group of persons on the 3 7lmemolWankk%83093/!1rl2 PM 0 0 basis of race, color, religion, sex, marital status, national origin or ancestry, all as set forth In the Affordable Housing Agreement. It. Non -Waiver. Failure to exercise any right the City may have or be entitled to, In the event of default hereunder, shall not constitute a waiver of such right or any other right In the event of a subsequent default. 12. Indemnification. The Participant shall defend, indemnify and hold harmless the City of Huntington Beach and its respective officers, agents, employees, representatives and volunteers from and against any loss, liability, claim or judgment relating In any manner to the Property of this Agreement. The Participant shall remain fully obligated for the payment of property taxes and assessments related to the Property. There shall be no reduction in taxes for Participant, nor any transfer of responsibility to the City to make such payments, by virtue of the Loan. 13. Insurance. Participant shall maintain, during the term of the City loan, an all-risk property insurance policy Insuring the Property in an amount equal to the full replacement value of the structures on the Property. The policy shall name the City as loss payee and shall contain a statement of obligation on behalf of the carrier to notify the City of any material change, cancellation or termination of coverage at least thirty (30) days In advance of the effective date of such material change, cancellation or termination. Participant shall transmit a copy of the certificate of insurance and loss payee endorsement to City within thirty (30) clays of the effective date of this Agreement, and Participant shall annually transmit to City a copy of the certificate of insurance and a loss payee endorsement, signed by an authorized agent of the insurance carrier setting forth the general provisions of coverage. The copy of the certificate of Insurance and loss payee endorsement shall be transmitted to City as follows: City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 Attn: Department of Economic Development Any certificate of insurance must be in a form approved by the City Attorney. 14. Defaults. Failure or delay by either party to perform any term or provision of this Agreement which is not cured within thirty (30) days after receipt of notice from the other party constitutes a default under this Agreement; provided, however, If such default Is of the nature requiring more than thirty (30) days to cure, the defaulting 4 7lmemo\Loankk183093 /12.12 PM r party shall avoid default hereunder by commencing to cure within such thirty (30) day period and thereafter diligently pursuing such cure to completion. The parry who so fails or delays must immediately commence to cure, correct, or remedy such failure or delay, and shall complete such cure, correction or remedy with diligence. The injured party shall give written notice of default to the party in default, specifying the default complained of by the injured party. Except as required to protect against further damages, the Injured party may not institute proceedings against the party In default until thirty (30) days after giving such notice. Failure or delay In giving such notice shall not constitute a waiver of any default, nor shall It change the time of default. IS. Documents. Participant Is aware that the City has prepared certain documents to implement the Program and secure repayment of the Loan. Participant has reviewed and agrees to execute the following documents prior to receiving the Loan: (a) Disclosure Statement (b) Promissory Note; (c) Deed of Trust; and (d) The Affordable Housing Agreement (Exhibit "D") (e) Notice of Right of Recission Participant agrees and acknowledges that the Deed of Trust, Loan Disclosure Statement and the Affordable Housing Agreement shall be recorded with the County Recorder of the County of Orange and shall appear of record with respect to and as encumbrances to the Property. 16. Further Assurances. The Participant shall execute any further documents consistent with the terms of this Agreement, Including documents In recordable form, as the City shall from time to time find necessary or appropriate to effectuate its purposes in entering into this Agreement and making the Loan. 17. Governing Law. This Agreement shall be governed by the laws of the State of California. Any legal action brought under this Agreement must be Instituted in the Superior Court of the County of Orange, State of California, in an appropriate municipal court In that county, or in the Federal District Court in the Central District of California. 6 7:memoltoankkk63093/12:12 FM r 18. Amendment of Agreement. No modification, recession, waiver, release or amendment of any provision of this Agreement shall be made except by a written agreement executed by the Participant and City. 19. City May Assign. City may, at its option, assign its right to receive repayment of the loan proceeds without obtaining the consent of the Participant. 20. Participant Assignment Assumption Prohibited. In no event shall Participant assign or transfer any portion of this Agreement without the prior express written consent of the City, which consent may be given or withheld in the City's sole discretion. No assumption of the Loan shall be permitted at any time. This section shall not prohibit the City's right to assign all or any portion of its rights to the loan proceeds hereunder. 21. Entire Agreement. This Agreement constitutes the entire understanding and agreement of the pardes. This Agreement integrates all of the terms and conditions mentioned herein or incidental thereto, and supersedes all prior negotiations, discussions and previous agreements between the City and the Participant concerning all or any part of the subject matter of this Agreement. 22. Relationship of Participant and City. The relationship of Participant and City pursuant to this Agreement Is that of debtor and creditor and shall not be, or be construed to be a joint venture, equity venture, partnership, or other relationship. 23. Notices. Any notices, requests or approvals given under this Agreement from one parry to another may be personally delivered or deposited with the United States Postal Service for mailing, postage prepaid, registered or certified mail, return receipt requested to the following address: To Participant: 'Bar a_ 1w er i7DA ea -. A To City: City of Huntington Beach Attention: Department of Economic Development 2000 Main Street Huntington Beach, CA 92648 Either party may change its address for notice by giving written notice thereof to the other party. 6 Amcmo\Loankk%83043112. ! 2 PH i 24. Subordination Clause in the event of a foreclosure or deed in lieu of foreclosure of the First Deed of Trust, any provisions herein or any provisions in any other collateral agreement restricting the use of the Property to low or moderate income households or otherwise restricting the Borrower's ability to sell the Property shall have no further force or effect on subsequent owners or purchasers of the Property. Any person, Including his successors or assigns (other than the Borrower or a related entity of the Borrower), receiving title to the Property through a foreclsoure or deed In lieu of foreclosure of the First Deed of Trust shall receive title to the Property free and clear from such restrictions. 7 7\memokLoinkk\81093/ 12:12 PM IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year written below. "PARTICIPANT" 9D Date: r —"} By: Print Name: Tide: f)ca:�l �r Date: By. Print Name: Title: Date: APPROVED AS TO FORM: CITY OF HUNTINGTON BEACH, a municipal corporation By: ,�rc•.,w C.t..�._ Print Name: ik Its: eta. o� Eco'-b- v . By: GAIL HU ON i tomey ]%memo%1ojnkk\83093111:00 PH 6 d Ir�, f?�egle 01;g11Fc4'n BY EINIGE COAST TITL, �. LA. SUBDIVISION DEPI RECORDING REQUESTED BY AND WHEN RECORDED RETURN TO: 10—MAR-19,94 03059 PH The City of Huntington Beach Record e� is Official Records 4f graTse County, California 2000 Main Street Lee A. Rran67 County Recorder Huntington Beach, California 92648 Pase 1 of 18 Fees: $ 61.00 Attn: City Clerk Tav= �•��� This document is exempt from recording fees pursuant to Government Code Section 6103. T / e THIS DEED OF TRUST is made this 7TH day of MAR•, 199i;4by and among ~ BARBARA DIECKMEYER ,whose address is 409 Utica Ave. R-21 , (the "Trustor") and THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, 2— a public body corporate and politic (the "Trustee") and THE CITY OF HUNTINGTON BEACH, 11�' a municipal corporation (the "BENEFICIARY"), whose address is 2000 Maln Street, Huntington Beach, California 92648. WITNESSETH: That Trustor Irrevocably Grants, Transfers and Assigns, to Trustee, in Trust, with Power of Sale, that property in the City of Huntington Beach, County of Orange, State of California, described legally in the Legal Description attached hereto as Exhibit "A" and incorporated herein. TOGETHER WITH: (a) all buildings, improvements and fixtures, now or hereafter placed thereon, it being understood and agreed that all classes of property attached or unattached used in connection herewith shall be deemed fixtures, (b) rents, issues and profits thereof, (c) any water rights and/or stock are appurtenant or pertain to said land, and (d) all sums of money payable on the purchase price of said property secured by a lien thereon or payable under any agreement for the sale 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, and all sums of money payable on the purchase price of said property secured by a lien thereon or payable under any agreement. A. ' FOR THE PURPOSE OF SECURING: l . Payment of the sum of Ten Thousand and no/I00---------- with interest thereon according to the terms of a Promissory Note of even date herewith, made by Trustor, payable to the order of the Beneficiary and extensions or renewals thereof. 2. Payment of such additional sums with interest thereon as: (a) may be hereafter borrowed from the Beneficiary by the then record owner or owners of said property when 7\DEEDRENT\02/10/94/B THIS IS A THIRD DEED OF TRUST THIS DEED OF TRUST IS JUNIOR AND SUBORDINATE TO THE DEED OF TRUST OF SANWA BANK CALIFORNIA, A CALIFORNIA CORPORATION, AND THE DEED OF TRUST OF -THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, RECORDED CONCURRENTLY r HEREWITH. evidenced by another Promissory Note or Notes, or (b) as may be added to the indebtedness secured hereby in accordance with the provision of this Deed of Trust. 3. Performance of each and every obligation, covenant, promise or agreement of Trustor contained herein in the Loan Agreement between Beneficiary and Trustor dated MARCH 7 , 1993A and In that certain Affordable Housing Agreement currently recorded on the property, insofar as the terms and conditions of that agreement may apply to Tntstor. 4. payment, with interest thereon, future Indebtedness or obligation of the Trustor (or of any successor -in -Interest of the Trustor to said property) to the Beneficiary, whether created directly or acquired by assignment, whether absolute or contingent, whether due or not, whether otherwise secured or not; or whether existing at the time of the execution of the Deed of Trust, or arising thereafter. B. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR AGREES: I . To keep said property in good condition and repair; to allow Beneficiary or Its representatives to enter and Inspect the premises at all reasonable times and access thereto, shall be permitted for that purpose; not to remove or demolish any building thereon; not to make alterations thereto without the consent of the Beneficiary; to suffer or permit no change In the general nature of the occupancy of the premises without Beneficiary's written consent; to complete or restore promptly and in good workmanlike manner any building which may be constructed, damaged or destroyed thereon, including, without restricting the generality of the foregoing, damage from termites and dry -rot; to pay when due all claims for labor performed and materials furnished In connection with such property and not to permit any mechanic's lien against such property; to comply with all laws affecting such property or requiring any alterations or Improvements to be made thereon; not to initiate or acquiesce in any zoning reclassification without Beneficiary's written consent; not to commit or permit waste thereon; not to commit, suffer or permit any act upon such property In violation of the law; and to paint, cultivate, irrigate, fertilize, fumigate, prune, and do all other acts that from the character or use of said property may be reasonably necessary, to promptly pay all amounts due others upon agreements of lease or conditional sale of all fixtures, furnishings and equipment located thereon. if the loan secured hereby or any part thereof is being obtained or should any additional loan be made hereafter for the purpose of financing rehabilitation Improvements on said property, Trustor further agrees, anything in this Deed of Trust to the contrary notwithstanding; (a) to complete the same in accordance with City approved plans and specifications satisfactory to Beneficiary; (b) to allow Beneficiary to inspect such property at all times during rehabilitation; (c) to replace any work or materials unsatisfactory to Beneficiary within fifteen (i 5) calendar days after written notice from Beneficiary of such fact, which notice may be given to Trustor by registered or certified mail, sent to his last known address, or by personal service of the same; (d) that work shall not cease on the rehabilitation of such improvements for any reason whatsoever for a period of fifteen (15) calendar days, whether consecutive or not, without the written permission of the Beneficiary; (e) to pay when due all claims of labor and materials furnished in connection with the said rehabilitation and not to permit any claims of lien for said work or material to be Filed of record against the property; (f) not to permit any stop notice claims to be presented to Beneficiary. if said property is part of a larger tract upon which improvements will be constructed, Trustor shall make separate contracts and subcontracts for said construction which shall pertain to the said property only and shall keep separate, full and complete records of all work and materials 7\DEEDRENT102/ 10/94/8 2 furnished to the said property. Trustee upon presentation to it of an affidavit signed by the Beneficiary setting forth facts showing a default by Trustor under this paragraph, is authorized to accept as true and conclusive all facts and statements therein, and to act thereon hereunder. 2. To provide, and maintain in force at all times with respect to said property, fire and other types of insurance as may be required by Beneficiary. All of such insurance shall have a loss payable endorsement in favor of Beneficiary, shall be for a term and in form, content, amount and in such companies as may be satisfactory to Beneficiary, and the policies therefor shall be delivered to and remain in possession of Beneficiary as further security for the faithful performance of these trusts. At least thirty (30) days prior to the expiration of any insurance policy, a policy or policies renewing or extending such expiring insurance shall be delivered to Beneficiary together with written evidence showing payment of the premium therefor and, in the event any such insurance policy and evidence of the payment of the premium therefor are not so delivered by Trustor to Beneficiary, Trustor by executing this Deed of Trust specifically requests Beneficiary to obtain such Insurance and Beneficiary, without obligation to do so, without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may obtain such insurance through or from any insurance agency or company acceptable to it, pay the premium thereof, and may add the amount thereof to the indebtedness secured hereby, which amount shall bear a like rate of interest. Beneficiary may furnish to any insurance agency or company, or any other person, any information contained in or extracted from any insurance policy delivered to Beneficiary pursuant hereto and any Information concerning the loan secured hereby. Neither Trustee nor Beneficiary shall be responsible for such insurance or for the collection of any insurance monies, or for any insolvency of any insurer or insurance underwriter. In case of insurance loss, Beneficiary is hereby authorized either (a) to settle and adjust any claim under the insurance policies provided for in this document without the consent of the Trustor, or (b) to allow Trustor to agree with the insurance company or companies on the amount to be paid upon the loss. In either case, the Beneficiary is authorized to collect and make receipt of any such insurance money. If Trustor is obligated to restore or replace the damaged or destroyed buildings or improvements under the terms of any lease or leases which are or may be prior to the lien of this Deed of Trust and such damage or destruction does not result in cancellation or termination of such lease, such proceeds, after deducting therefrom any expenses incurred in the collection thereof, shall be used to reimburse the Trustor for the cost of rebuilding or restoring the buildings or improvements on said premises. In all other cases, such insurance proceeds, at the option of the Beneficiary, shall either be applied in reduction of the indebtedness secured hereby whether due or not, or in such order as Beneficiary may determine, or be held by the Beneficiary and used to reimburse the Trustor for the cost of the rebuilding or restoring the buildings or improvements on said premises. Such buildings and improvements shall be so restored or rebuilt as to be of at least equal value and substantially the same character as prior to the damage or destruction, and shall be in a condition satisfactory to Beneficiary. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. Any and all unexpired insurance shall inure to the benefit of, and pass to the purchaser of, the property conveyed at any Trustee sale held hereunder. 3. To pay: (a) at least ten (10) days before delinquency, all general and special City and County taxes, and all assessments on appurtenant water stock, affecting such property, (b) when done, all special assessments for public improvements, without permitting any improvement bond to issue for any special assessment (c) when done, all encumbrances, charges and lines, with interest, on said property, or any part thereof, which are or appears to be prior to superior hereto, (d) if the security of this Deed, of Trust is leasehold estate, to make any payment or do any act 7\DEEDRENT\02/10/94/B 3 required of the Lessee or its successor in interest under the terms of the instrument or instruments creating said leasehold, (e) all costs, fees and expenses of this trust, (f) for any statement regarding the obligation secured hereby any amount demanded by Beneficiary not to exceed the maximum allowed by law thereof at the time when such request is made, (g) such other charges for services rendered by Beneficiary and furnished at Trustor's request or that of any successor in interest to Trustor as the Beneficiary may deem reasonable. If, by the laws of the United States of America, or of any state having jurisdiction over the Trustor, any tax is due or becomes due in respect to the Issuance of the Note hereby secured, the Trustor covenants and agrees to pay such tax in the manner required by such law. Should Trustor fail to make any such payment, Beneficiary may elect to make such payment, Beneficiary may elect to make such payment and any amount so paid may be added by Beneficiary to the indebtedness secured hereby and shall bear a like rate of interest. 4. That, should Trustor fail to make any payment or do any act as provided in this Deed of Trust, the Beneficiary or Trustee, but without obligation to do so and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may (a) make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon said property for such purposes, (b) commence, appear in, or defend any action or proceeding purporting to affect the security hereof or the property covered by this Deed of Trust, or the rights or powers of Beneficiary or Trustee, (c) pay, purchase, contest or compromise any encumbrance, charge or lien, which in the judgment of either is or appears to be prior or superior hereto; and (d) in exercising any such powers, pay necessary expenses, employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary, and any amount so expended may be added by Beneficiary to the indebtedness secured hereby and shall bear a like rate of interest. 5. To appear in and defend any action or proceeding purporting to affect the security hereof or the property which is covered by this Deed of Trust, or the rights or powers of Beneficiary or Trustee, and whether or not Trustor so appears or defends, to pay all costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including any action for the condemnation or partition of said premises, and in any suit brought by Beneficiary to foreclose this Deed of Trust. 6. To pay immediately and without demand, all sums expended under the terms of this Deed of Trust by Beneficiary or Trustee, with interest from the date of expenditure at the rate which the principal obligation secured hereby bears at the time such payment is made, and the repayment of such sums shall be secured hereby. 7. That, should the Trustor or any successor in interest to Trustor in such property drill or extract, or enter into a lease for drilling or extraction of oil, gas or other hydrocarbon substances or any mineral of any kind or character, or sell, convey, further encumber, or alienate said property, or any party thereof, or any interest therein, or be divested of his title or any interest therein in any manner or way, whether voluntarily or involuntarily, Beneficiary shall have the right, at its option, to declare any indebtedness or obligations secured hereby irrespective of 7\DEEDRENT\02/10/94/B 4 the maturity date specified in any Note evidencing the same, immediately due and payable, and no waiver of this right shall be effective unless in writing. 8. That any award, settlement or damages for injury or damages to such property, or In construction with the transaction financed by such loan, and any award of damages In connection with any condemnation for public use of or Injury to said property, or any part thereof, Is hereby assigned and shall be paid to Beneficiary, who may apply or release such monies received by it to such manner and with the same effect as above provided for the disposition of proceeds of fire or other Insurance. 9. That, by accepting payment of any sums secured hereby after its due date, or by making any payment, performing any act on behalf of Trustor, that Trustor was obligated hereunder, but failed, to make, or perform, or by adding any payment so made by Beneficiary to the indebtedness secured hereby, Beneficiary does not waive Its right either to require prompt payment when due of all sums so secured or to declare a default for failure so to pay. 10. That at any time, or from time to time, without liability of the Beneficiary or Trustee thereof, and without notice, upon written request of Beneficiary and presentation of this Deed of Trust and any Note secured hereby for endorsement, and without affecting the personal liability of any person for payment of the indebtedness secured hereby, or the lien of the Deed of Trust upon the remainder of said property for the full amount of the Indebtedness then or thereafter secured hereby, or the rights or powers of Beneficiary or the Trustee with respect to the remainder of said property, Trustee may: (a) reconvey any part of said property, (b) consent to the making of any map or plat thereof, (c) join In granting any easement thereon, (d) join in any agreement subordinating the lien or charge hereof. IL . That the lien hereof shall remain in full force and effect during any postponement or extension of time of payment of the Indebtedness secured hereby, or any part thereof. 12. That, upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed of Trust and said Note or Notes to Trustee for cancellation and retention, and upon payment of its fees, Trustee shall reconvey, without warranty, the property then held hereunder. The recitals In such reconveyance of any matters of fact shall be conclusive of the truthfulness thereof. The grantee in such reconveyance may be described as "the person or persons legally entitled thereto." Such request and reconveyance shall operate as re -assignment of the rents, issues, royalties and profits assigned to Beneficiary. Five (5) years after issuance of such full reconveyance, Trustee may destroy said Note and this Deed of Trust (unless directed in such request to retain them). 13. That as additional security, Trustor irrevocably assigns to Agency the rents, issues, and profits of the property affected by this Trust Deed for the purposes and upon the terms and conditions set forth below. This assignment shall not impose upon Agency any duty to produce rents from the property affected by this Trust Deed, or cause Agency to be (a) "mortgages in possession" for any purpose; (b) responsible for performing any of the obligations of the lessor under any lease; or (c) responsible for any waste committed by lessees or any other parties, for any dangerous or defective condition of the property affected by this Trust Deed, or for any negligence In the management, upkeep, or control of such rights to rents, Issues and profits is not contingent upon, and may be exercised without possession of, the property affected by this Trust Deed. /\D .EDRENT\07I]O194M 5 Agency confers upon Trustor a license ("License") to collect and retain the rents, issues and profits of the property affected by this Trust Deed as they become due and payable, until the occurrence of a default hereunder. Capon such default, the License shall be automatically revolted and Agency may collect and retain the rents, issues and profits without notice and without taking possessions of the property affected by this Trust Deed. This right to collect rents, issues and profits shall not grant to Agency or Trustee the right to possession, except as otherwise provided herein; and neither said right, nor termination of the Ucense, shall Impose upon Agency or Trustee the duty to produce rents, issues or profits or maintain all or any part of the property affected by this Trust Deed. if Trustor shall default as aforesaid, Trustor's right to collect any such money shall cease and Beneficiary shall have the right, with or without taking possession of the property affected hereby, to collect all rents, issues, royalties and profits and shall be authorized to, and may, without notice and Irrespective of whether declaration of -default has been delivered to Trustee and without regard to declaration of default has been delivered to Trustee and without regard to the adequacy of the security for the indebtedness secured hereby, either personally or by attorney or agent without bringing any action or proceeding, or by receiver to be appointed by the Court, enter Into possession and hold, occupy, possess and enjoy the said property, make cancel, enforce and modify leases, obtain and elect tenants, and set and modify rents and terms of rents, and to sue, and to take, receive and collect all or any part of the said rents, issues, and profits of the property affected hereby, and after paying such costs of maintenance, operation of said property, and of collection including reasonable attorneys' fees, as in its judgment it may deem proper, to apply the balance upon any Indebtedness then secured hereby, the rents, Issues, royalties and profits of said property being hereby assigned to Beneficiary for said purposes. The acceptance of such rents, issues, royalties and profits shall not constitute a waiver of any other right which Trustee or Beneficiary may enjoy under this Deed of Trust or under the laws of California. Failure of or discontinuance by Beneficiary at any time, or from time to time, to collect any such rents, issues, royalties or profits shall not In any manner affect the subsequent enforcement by Beneficiary of the right, power and authority to collect the same. The receipt and application by said Beneficiary of all such rents, issues, royalties and profits pursuant hereto, after execution and delivery of declaration of default and demand for sale as hereinafter provided, or during the pendency of Trustee's sale proceedings hereunder, shall not cure such breach or default not affect said sale proceedings, or any sale made pursuant thereto, but such rents, issues, royalties and profits, less all costs of operation, maintenance, collection and reasonable attomeys' fees, when received by Beneficiary, shall be applied in reduction of the Indebtedness secured hereby, from time to time, in such order as Beneficiary may determine. Nothing contained herein, nor the exercise of the right by Beneficiary to collect, shall be, or be construed to be, an affirmation by Beneficiary of any tenancy, lease or option, nor an assumption of liability under, nor subordination of the lien or charge of this Deed of Trust to, any such tenancy, lease or option. 14. That if the security of this Deed of Trust is a leasehold estate, the Trustor agrees that: (a) the term "Lease" as used herein shall mean the lease creating the "leasehold estate"; (b) Trustor shall not amend, change or modify his leasehold interest, or the Lease, or agree to do so, without the written consent of the Beneficiary; (c) Trustor will promptly advise Beneficiary regarding any notice, request or demand received by him from the lessor under the Lease and promptly fumish Beneficiary with a copy of any such notice, request or demand; (d) as long as any of the indebtedness secured hereby shall remain unpaid, unless the Beneficiary shall otherwise consent thereto in writing, the leasehold estate shall not merge with the fee tide but shall always be kept separate and distinct, notwithstanding the union of said estates in any parry; (e) Trustor agrees that it will promptly, strictly, and faithfully perform, fulfill, and comply with all covenants, agreements, terms, conditions and provisions under any lease affecting the premises and to neither 7\DEFDRFNS107/101941B 6 do anything, nor to permit anything to be done which may cause modification or tennination of any such lease or of the obligations of any lessee or person claiming through such lease or the rents provided for therein or the interest of the lessor or the Beneficiary therein or thereunder. Trustor further agrees he will not execute a Deed of Trust or mortgage which may be or become superior to any leasehold estate that Is security for this Deed of Trust. In the event of a violation of any of the covenants set forth in this paragraph, Beneficiary shall have the right, at its option, to declare all sums secured hereby immediately due and payable. Consent to or waiver of one of said violations shall not be deemed to be a consent to or waiver or any other violation. It the security for this Deed of Trust is a leasehold estate, the term "property" as used in this Deed of Trust shall be deemed to mean the leasehold estate whenever the context so requires for the protection of the Beneficiary. 15. That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement, and the Promissory Note, if applicable, hereunder, and upon default by Trustor under the terms of any encumbrance, charge or lien which is or appears to be prior or superior hereto, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written declaration of default and demand for sale of written notice of default and of election to cause to be sold said property, which notice Trustee shall cause to be flied for record. Beneficiary shall also deposit with Trustee this Deed of Trust and any Notes and all documents evidencing expenditures, secured hereby. After the lapse of such time as then may be required by law following recordation of such notice of default, and notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell said property at the time and place fixed by it in such notice of sale, whether as a whole or in separate parcels, and in such order as it may determine, at public auction to the highest bidder for case in lawful money of the United States, payable at time of sale. Trustee may postpone sale of all or any portion of said property by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public announcement at the time fixed by the preceding postponement. Trustee shall deliver to such purchaser its Deed conveying the property so sold, but without any covenant or warranty, express or implied. The recital in such Deed of any matters of fact shall be conclusive of the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary as hereinafter defined, may purchase at such sale. Trustee may also sell at any such sale and as part thereof any shares of corporate stock securing the obligations secured hereby, and Trustor waives demand and notice of such sale. (Beneficiary at its option may also foreclose on such shares by independent pledge sale, and Trustor waives demand and notice of such sale). After deducting all costs, fees and expenses of Trustee, and of this Trust, including cost of evidence of title in connection with this sale, Trustee shall apply the proceeds of sale to payment, first; all sums expended under the terms hereof, not then repaid, with accrued interest at the rate then payable under the Note or Notes secured hereby, and then of all other sums secured hereby, and, if there are any proceeds remaining, shall distribute them to the person or persons legally entitled thereto. 16. To waive, to the fullest extent permissible by law, the right to plead any statute of limitations as a defense to any demand secured hereby. 17. That Beneficiary may, from time to time, by instrument in writing, substitute a successor or successors to any Trustee named herein or acting hereunder, which instrument, executed and acknowledged by Beneficiary and recorded in the office of the recorder of the county or counties where such property is situated, shall be conclusive proof of property substitution of such successor Trustee or Trustees, who shall, without conveyances from the 7\DEEDRENT\02/10/94/6 7 Trustee predecessor, succeed to all its dde, estate, tights, powers and duties, Including but not limited to the power to reconvey the whole or any part of the property covered by this Deed of Trust. Such instrument must contain the name of the original Trustor, Trustee and Beneficiary hereunder, the book and page where this Deed of Trust is recorded. If notice of default shall have been recorded, this power of substitution cannot be exercised until after the costs, fees and expenses of the then acting Trustee shall have been paid to such Trustee, who shall endorse receipt thereof upon such instrument. The procedures herein provided for substitution of Trustee shall not be exclusive of other provisions for substiurtion provided by law, 18. That tins Deed of Trust 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 the owner and holder, Including pledgee, of the Note secured hereby, whether or not names as Beneficiary herein. in this Deed of Trust, whenever the context so requires, the masculine gender Includes the feminine and/or neuter, and the singular number Includes the plural. 19. That In the event the property secured by this Deed of Trust Is income producing property consisting of four units or more, Trustor agrees to file with Beneficiary, at Beneficiary's request, monthly, on or before the 15th day of each month, a written operational report. Such operational report shall contain a brief but complete statement of the month's income and expenses of such property, a list of all vacancies, and a statement of any material change in the property or business carried on therein for such period. 20. That in the event of a demand for, and the preparation and delivery of a written statement regarding the obligations secured by this Deed of Trust pursuant to Sections 2943 and 2954 of the Civil Code of California, Beneficiary shall be entitled to make a reasonable change, not exceeding the maximum amount which Is permitted by law at the time the statement Is furnished. Beneficiary may also charge Trustor a reasonable fee for any other services rendered to Trustor or rendered in Trustor's behalf in connection with said property of this Deed of Trust, including changing Beneficiary's records pertaining to this Deed of Trust and the loan secured hereby in connection with the transfer of said property, or releasing an existing policy of fire insurance or other casualty insurance held by Beneficiary and replacing the same with another such policy. 21. That Trustee accepts this Trust when this Deed of Trust, duly executed and acknowledged, Is made a public record as provided by law. Trustee is not obligated to notify any parry hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary, or Trustee shall be a party unless brought by Trustee. 22. That should this Deed of Trust or any Note secured hereby provide any fee for prepayment of any indebtedness secured hereby, Trustor agrees to pay said fee, If any, of said indebtedness shall be paid prior to the due date thereof stated in said Note or this Deed of Trust even if notwithstanding Trustor shall have defaulted in payment thereof, or in performance of any agreement hereunder, and Beneficiary, by reason thereof, shall have declared all sums secured hereby immediately due and payable. 23. That Trustor has made certain representations and disclosures in order to induce Beneficiary to make the loan evidenced by the Promissory Note or Notes which this Deed of Trust secures, and in the event that Trustor has made any material misrepresentation or failed to disclose AVEFDRF.N7\0711019418 8 any material fact, Beneficiary at its option and without notice, shall have the right to declare the indebtedness secured hereby, irrespective of the maturity date specified in such Note or Notes, immediately due and payable, and on failure to so pay Beneficiary may make a written declaration of default and demand for sale as in paragraph No. 15 herein set forth. Trustee, upon presentation to it of an affidavit signed by Beneficiary setting forth facts showing a default by Trustor under this paragraph, is authorized to accept as true and conclusive all facts and statements therein, and to act thereon hereunder. Any notice which any party hereto may desire or be required to give to the other party shall be in writing. The mailing thereof must be certified mail addressed to the Trustor at his address hereinabove set forth or to the Beneficiary at his office or at such other place as such parties hereto may designate in writing. 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. TRUSTEE: TRUSTOR: REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH By Y L� BARBARA DIECKMEYER Title: 'Ecl/7/�� /,�Ec7a/t- By: MICHAEL T. UBERUAGA, EXECUTIVE DIRECTOR By: BENEFICIARY: THE CITY OF HUNTINGTON BEACH By: r z'� a- �C'�— Title: -1, of BARBARA A. AISER DIRECTOR OF ECONOMIC DEVE. APPROVED AS TO FORM: Agency unsel . GA `HU'p`PON 7\DEEDRENT\02/10/94/B 9 0 cg e, } STATE OF CALIFORNIA}ss. COUNTY OF On before me, f�� V't personally appearedG��i� (or proved to me on the basis of satisfactory evidence) to be the personka) whose name4) is/ate.6ubscribed to the within instrument and acknowledged to me thatdwfshe/threy executed the same in hWher/therrauthorized capacity#esr and that by +ris/her/their signature,pp on the instrument the persono�or the entity upon behalf of which the i ' 3%OVERNMENT CODE 27361.7 WIVE E. LUNT � COMM. # 978764 S NOTARY PIJBUC . CALtFOR1� ® '1 IL z Orange County 3) o ` My Curren. Expires Wov. 22, 1996 - (This area for official notarial sea]) I CERTIFY UNDER PENALTY OF PERJURY THAT THE (VOTARY SEAL ON THE DOCUMENT TOM WHICH THIS STATEMENT I� ATTACHED READS AS FOLLOWS: NAME OF THE NOTARY: �- �- DATE COMMISSION EXPIRES: -n COUNTY WHERE BOND IS FILED: fir, COMMISSION NO.: MANUFACTURER/VENE -.PLACE OF EXEC SIGNATURE; 'rrl' I ORANGE( TITLE )x I PANY DATE: - I Form No. OCT-81b GOVERNMENT CODE 27361.7 1 CERTIFY UNDER THE PENALTY OF PERJURY THATTHE NOTARY SEAL ON THE DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS: NAME OF NOTARY S DATE COMMISSION EXPIRES COUNTY WHERE BOND IS FILED JZ1�6 '')PLACE OF EXECUTION C ST/ A- DATE Y N ORANGE COAST TITLE Form No. OCT-8b CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT _ .., State of YA County of On 9 before m DATF. NAE. TITLE OF OFFICER E G . -jANE DOE. NOTARY personally appeared Meis0 (� personally known to me - OR - E]-prnu OFFICIAL SEAL JUDY RtCHARDS Notary Rb6c-CC&omlo ORANGE COUNTY MV Can TANIM twat Havelmtm 3. 1946 ed a-me-on•the-basis-of-satisfactory-evidence to be the person(s) whose name(s) is/are- subscribed to the within instrument and ac- knowledged to me that-liefshe/they executed the same in 4is/her/theft- authorized capacity(+es , and that by-h446/herlt4etr signature(sr) on the instrument the person(sj, or the entity upon behalf of which the person(&) -acted, executed the instrument. WITNESS my hand and official seal. OF NOTARY No 5193 OPTIONAL SECTION CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document INDIVIDUAL CORPORATE OFFICER(S) TITLE(S) PARTNER(S) LIMITED GENERAL ATTORNEY•fN-FACT TRUSTEE(S) GUARDIANICONSERVATOR ❑ OTHER= SIGNER IS REPRESENTING: NAME OF PERSON{$) OR ENl ITY(IES) OPTIONAL SECTION. THIS CERTIFICATE MUST BE ATTACHED TO TITLE OR TYPE OF DOCUMENT THE DOCUMENT DESCRIBED AT RIGHT -- NUMBER OF PAGES DATE OF DOCUMENT Though the data requested here is not required by law, It could prevent fraudutent reartachment of this form. SIGNERS) OTHER THAN NAMED ABOVE cCt993 NATIONAL NOTARY ASSOC IADON -8236 Remmet Ave.. P.O Box 7184 • Canoga Park. CA 97309-7184 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No 5193 State of County of J On before me 6'u DATE 77 KAME. TITLE OF OFFrCER - G . -JANE DOE. personally appeared 14 personally known to me - OR - proved-ttTme-OTrV-P-,basis-ofsatts#aetory-evidence to be the persons) -whose name(a) is/are subscribed to the within instrument and ac- knowledged to me that he/she/tey-executed OFFV4. rN AL JUDY tbCt-tI,RDS the same in hisll+�tf s r—authorized Notaryrvw� toomla capacity(-ies), and that by his, l eTr IV signatures) on the instrument the person(s), My t 1 NJ or the entity upon behalf of which the persons} acted, executed the instrument. THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED AT RIGHT. WITNESS my hand and official seal. � OPTIONAL SECTION r CAPACITY CLAIMED BY SIGNER Though statute (JOBS not require the Notary to till in the data below. doing so may prove invaluable to persons retyrng on 111e docunvnt INDIVIDUAL CORPORATE OFFIC&Rt�t TITLES) PARTNER(S) LIMITED GENERAL ATTORNEY -IN -FACT TRUSTEE(S) GUARDIAN'CONSERVATOR OTHER - SIGNER IS REPRESENTING: NAME OF PERSON(SI OR ENT11 Y(IE S) C=io� NATURE OF NOTARY r WOLUM OPTIONAL SECTION / TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES. y DATE OF DOCUMENT Though the data requested here Is not required by law. it could prevent fraudulent reattachment of the form SIGNER(S) OTHER THAN NAMED ABOVE (_t993 NATIONAL NOTARY ASSOCIATION - 8236 Remmet Ave. PO Box 7784 - Canoga Park, CA 91309-7t84 —.r - -- - • This rider to the City of Huntington Beach Deed of Trust which was executed by BARBARA DIECKMEYER (Trustor for the property located at 409 Utica Avenue, B-21) is subject to the terms and conditions of that certain Loan Agreement entered into by and between Beneficiary and Trustor dated MARCH 7 19 94 , to which this rider Is attached as Exhibit "C" and incorporated by reference (the "Loan Agreement"), pursuant to which Beneficiary has agreed to loan Trustor the sum of Ten Thousand and no/ 100 Dollars ($10,000.00) (the "Loan Amount") with simple interest to accrue at five percent (5%) yearly. All terms In this Rider to City of Huntington Beach Deed of Trust, if not separately defined herein, shall have the meanings as defined In the Loan Agreement. Except as provided herein, the Loan and all Interest accrued thereon shall be due and payable upon (1) such sale, transfer, or other disposition of the Property, Including, without limitation, lease, exchange or rent of any part of the Property, (11) the refinancing of the First Mortgage for a loan amount In excess of the then current loan balance or for any authorization period longer than the loan secured by the first Mortgage, or (Iv) Trustor being in material default of any other obligation contained in this Agreement or any provision of the Affordable Housing Agreement or Covenant, as defined herein, recorded on the property, or (v) Trustor violates any condition of the deed of trust or promissory note, or (vi) the death of Trustor (unless the Trustor's household, occupying the property, contains more than one qualified participant in the affordable housing program pursuant to which this Loan is being made, and at least one qualified participant survives). At the request of Trustor, the City may, in its sole discretion, extend the term of the Loan. 2. Occupan�y Standards. The Property shall be used as the personal residence of Trustor and Trustor's immediate family and for no other purpose. Trustor shall not enter Into an agreement for the rental or lease of the Property. Moandoc/ftddr/02/22/94 3. Protection of Beneficiary's Rights in the Property. A. If Trustor fails to perform the covenants and agreements contained in this Deed of Trust, or there is a legal proceeding that may significantly affect Beneficiary's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Beneficiary may do and pay for whatever is necessary to protect the value of the Property and Beneficiary's rights in the Property. Beneficiary's actions may include paying any sums secured by a lien which has priority over this Deed of Trust, appearing in court, paying reasonable attorney's fees and entering on the Property to make repairs. Although Beneficiary may take action under this Section, Beneficiary does not have to do so. B. Any amount disbursed by Beneficiary under this section, shall become additional debt of Trustor secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the highest rate permitted by law and shall be payable, with interest, upon notice from Beneficiary to Trustor requesting payment. 4. Subordination. The Beneficiary has found and declared that an economically feasible method of financing, refinancing or assisting first time homebuyers pursuant to the Program on substantially comparable terms and conditions without subordination is not reasonably available. Any first lien on the Property ("First Lien") held by an institutional lender or investor (the "Lender") or second lien held by the Redevelopment Agency of the City of Huntington Beach, as may be evidenced by a Deed of Trust recorded on the Property, shall be prior and superior to the Declaration and this Deed of Trust. In the event of a foreclosure or deed in lieu of foreclosure of the First Deed of Trust, any provisions herein or any provisions in any other collateral agreement restricting the use of the Property to low or moderate income households or otherwise restricting the Trustor's ability to sell the Property shall have no further force or effect on subsequent owners or purchasers of the Property. Any person, including his successors or assigns (other than the Trustor or a related entity of the Trustor), receiving title to the Property through a foreclosure or deed in lieu of foreclosure of the First Deed of Trust shall receive title to the Property free and clear from such restrictions. 2 7/loandoc/ciryri dr/02/22/94 5. Obligation to Refrain from Discrimination. There shall be no discrimination against or segregation of any person, or group of persons, on account of race, color, creed, religion, sex, marital status, national origin, or ancestry, in the sale, lease, sublease, transfer, use, occupancy, tenure, or enjoyment of the Property, nor shall the Beneficiary itself or any person claiming under or through it establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees, or vendees of the City or any portion thereof. Trustor agrees it shall instruct the escrow holder for the acquisition of the Property by the Trustor that the order of recording in the escrow for the purchase of the Property by the Trustor shall occur as follows: 1) the First Lien; 2) the Declaration of Covenants, Conditions & Restrictions for Affordable Housing; 3) the Redevelopment Agency Deed of Trust; and 4) the City Trust Deed. The Trustor shall cause a Request for Notice to be recorded on the Property subsequent to the recordation of the First Lien deed of trust or mortgage requesting statutory notice of default as set for the in the California Civil Code. ` TRUSTOR'S SIGNATUR BARBARA DIECKMEYER REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH Chairman LINDA MOULTON-PATTERSON AP ROVE 7p AS TO b f-► v City Attorney } GAI L HUTT4 3 TRUSTOR'S SIGNATURE CITY OF HUNTINGTON BEACH Mayor LINDA MOULTON-PATTERSON 7/loan doc/d Eyrldr/02/22/94 L STATE OF CALIFORNIA r }ss. COUNTY OF �% } t r On `7` fore me, / V t -E . C,� d%T L personally appeared (or proved to me on the basis of satisfactory evidence) to be the persono whose name) is/are subscribed to the within instrument and acknowledged to me that �/she/ths7-executed the same in hrs/her/tl►e"uthorized capacity and that by Eris/her/their signatureon the instrument the person(4 or the entity upon behalf of which the � w person WITNE Signatt GOVERNMENT CODE 27361.7 K DAVE E. WIff t Comm. # 978764 NOTARY PUBLIC - CALffORNA Orange County W Comm. Expires Nov. 22. 1996 -► (This area for official notarial seal) ;7 I CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS: NAME OF THE NOTARY: 1) � 1 1j e- ccc_, t _w& - DATE COMMISSION EXPIRES - O� COUNTY WHERE BOND IS FILED: COMMISSION NO.: — ;1 'r7 A r&V MANUFACTURER/VENDO NO.: PLACE OF EXECU Z /I 4A SIGNATURE: ` ORANGE COAST TITLE 60WOWY DATE: I Form No. OCT-8b GOVERNMENT CODE 27361.7 I CERTIFY UNDER THE PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS: �AME OF NOTARY_ � -_ c C k S- - - - - - - r DATE COMMISSION EXPIRES COUNTY WHERE BOND IS FILED lJl MO 7 C-� PLACE OF EXECUTION ` P" I� DATE CaAll ORANGE COAST TITLE COMPAN' Form No. OCT-8b CALIFORNIA•ACKNOWLEDGMENT- No 5193 :; - ,• 1Wi State of County of .On aJ/ before me, • GATE N E. LE OF OFFICER EJ]ANE DOE, ARY PUBLIC' • n It n.L- // -7f7 I personally appeared ✓��' �'//r_i�—`>'i'CL NAuEiSS OF SIG ER!S1 t (personally known to me - OR - ❑ pre f-sat+stactory-eviderTce- `l to be the person(s) whose names)--is/are subscribed to the within instrument and ac- knowledged to me that­+fe/she/t4eyr executed OFFICWL SEAL the same in -tr Iher/thr authorized JUDY RK>ARDS capacity(+ , and that by hrs;<her/their • � �e� signature(o on the instrument the person(s), iM, C mrildw a" or the entity upon behalf of which the NwmmbK 3, 1991b persons} acted, executed the instrument - THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED AT RIGHT Though the data requested hero is not required by taw. et could prevent Iraudulent reattachment of this ram WITNESS my hand and btficiai seal. / // SIGNATURE OF NOTARY OPTIONAL SECTION TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES 9 DATE OF SIGNER(S) OTHER THAN NAMED ABOVE OPTIONAL SECTION � CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill in the data below. doing So may prove invaluablq to persons relying on the 00cumenz INDIVIDUAL COOPORATE OFFICERW,j l .A/1f'1 _/'b'f '& ) TI LE;SI PARTNER(S) LIMITED GENERAL i ATTORNEY -IN -FACT ` TRUSTEE(S) GUARDIAN;CONSERVATOR ❑ OTHER - SIGNER IS REPRESENTING: NAME O�PERSONISS OR ENTITY(IES) ri1993 NATIONAL NOTARY ASSOCIATION • 0236 Rommel Ave.P O- Box 7184 • Canoga Park, CA 91309-7164 LIFOIRNIA ALL-PUHPU51E AC;KNOWLEDGMEN1 liffs %w)' County of LZ/� On a' a` before me DATE E. T LE OF OFFICER - E G . - NE DOE. NOTA PUBLIC - personally appeared T ueur:c, nr eirw,a�c+ [personally known to me - OR - ❑ is-of-saaWactory-ftderrce- to be the person(s) whose name(s) is/afe- subscribed to the within instrument and ac- knowledged to me that hefshe/t4eyf executed OFRCLAL SEAL the same in -"Mer/the4 authorized JUDY RK>(ARDS capacity(te-&), and that bytes/her/144E4r N�AN6E -coftirrilo signature(s} on the instrument the person(s* O Cor�x>M C 0� or the entity upon behalf of which the Novwnber 3. 1995 person( acted. executed the instrument. THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED AT RIGHT- WITNESS my hand and official seal. .ti7GNATUHE OF NOTARY OPTIONAL SECTION TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES 2 DATE OF No 5193 OPTIONAL SECTION � CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill In the data below, doing so may prove invakxable to persons retying on the document INDIVIDUAL CORPORATE OFFICEWS1 ` LEIS1 PARTNER(S) LIMITED GENERAL ATTORNEY -IN -FACT TRUSTEE(S) GUARDIANICONSERVATOR y OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(Sl OR ENTITY(IES) Though the data requested here is not required by law_ it could prevent traudulent reattachment of this form. SIGNER(S) OTHER THAN NAMED ABOVE •:1993 NATIONAL NOTARY ASSOCIATION • 8236 Remmet Ave-. P 0_ Box 7184 - Canoga Park, CA 91309-7184 n CITY OF HUNTINGTON BEACH 2000 MAIN STREET OFFICE OF THE CITY CLERK CONNIE BROCKWAY CITY CLERK DEED CERTIFICATION CALIFORNIA 92648 This is to certify that the interest in real property conveyed by the deed dated March 7, 1994 from BARBARA DIECKMEYER to the City of Huntington Beach, a municipal corporation, is hereby accepted by the undersigned officer or agent on behalf of the City Council of the City of Huntington Beach, pursuant to the authority conferred by Resolution No 3537 of the City Council of the City of Huntington Beach adopted on August 7, 1972, and the grantee consents to the recordation thereof by its duly authorized officer Dated: March 9, 1994 CITY OF HUNTINGTON BEACH CONNIE BROCKWAY, CIVIC CITY CLERK. Deputy -City Clerk ( Telephone: 714-536-5227 ) Property Address: 409 Utica Avenue B-21, Huntington Beach, California [ARCH 7 1994 1. Promise to Pay. BARBARA DIECKMEYER ("Borrower") promises to pay the REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, a public body, corporate and politic ("Holder," also referred to as "Agency"), at the office of the Agency in Huntington Beach, California, or at such other place as -the Holder may designate in writing, the principal sum of Twenty -Three Thousand and no/100 Dollars ($23,000) (the "Note Amount"), together with Interest. The balance of all unforgiven unpaid principal and accrued Interest shall be due and payable upon sale of the Property or upon occurrence of the other events listed in the acceleration clause herein. 2. Interest Rate Interest shall be charged by the Agency on the portion of the Note Amount remaining unpaid from time to time, from the date of the disbursement of the Note Amount until the date upon which the Note Amount Is repaid, at the simple rate of five percent (5%) per annum. In the event that Borrower transfers the Property to a Buyer qualified to participate in the Agency's Affordable Housing Loan Program and approved by the Agency ("Qualified Buyer"), all accrued interest which would then have been due and payable If the Borrower were in default will be paid on the date upon which escrow closes; however, no equity share amount shall be due. Interest at the rate of five percent (5%) per annum will begin to accrue as to the new Buyer on the remaining principal from the date upon which escrow closes and all interest thereafter accrued will be due and payable at the same time the Note becomes due and payable, unless the new qualified Buyer assumes the loan. 3. Affordable Housing Bgreemen This Promissory Note is made and delivered pursuant to and in implementation of an Affordable Housing Agreement recorded on the property as a covenant binding upon Borrower (the "Agreement"), a copy of which is on file as a public record with the Holder and is incorporated herein by reference, and a Loan Agreement between Borrower and Agency dated 03--7-94 . This Promissory Note is attachment "B" to the Loan Agreement. 4. Accelgration The whole of the Note Amount, any interest accrued thereon, the equity share amount, and all other payments due hereunder and under the Agreement shall, at the option of the Holder, become due and be Immediately payable to the Holder by the Borrower upon the occurrence of any one of the following events: (a) Unless sale is made to a qualified Buyer who assumes the Loan, Borrower sells, transfers or makes disposition of the Property in whole or In part, Including, without limitation, the lease, exchange or rental of the Property or any Interest therein, whether voluntary or involuntary; (b) Borrower refinances any lien or encumbrances to which the Agency Deed of Trust is subordinate for loan amount in excess of the then current loan balance secured by such lien or encumbrance; 7/loa n doc/agencyprom note/02 /2 2/94 (c) Borrower fails to occupy the Property as Borrower's principal residence pursuant to the loan Agreement or is in breach or default of any other obligation under the Agreement or violates the terms of the Affordable Housing Agreement (Affordable Housing Covenant); (d) The close of a probate estate following the death of Borrower (unless Borrower Is more than one person and one or more of the other people comprising Borrower survive); (e) Borrower defaults on this Promissory Note; (f) Borrower defaults on the Agency Deed of Trust. In the event that there is a default in payment as scheduled herein or a default under the terms of the Deed of Trust securing this Note, or a defauit of the Agreement or in any other Instrument executed by Borrower or any guarantor In favor of the Agency, the Agency may at its election declare all amounts of the outstanding principal and accrued interest thereon immediately due and payable. S. ARalication of Payments Any sums received hereunder may, at the options of Holder hereof, be applied in any order to the payment of costs, interest, or principal due hereunder. 6. Prepayment Privilege is reserved to make prepayments of principal on this Note without penalty or fee. 7. Non -Waiver Failure to exercise any right the Holder may have or be entitled to, in the event of any default hereunder, shall not constitute a waiver of such right or any other right In the event of subsequent default. 8. Borrower's Waivers The Borrower and all guarantors and endorsers hereof hereby severally waive certain requirements of the Agency. These are: a) to demand payment of amounts due (known as "presentation for payment"), b) to give notice that amounts due have not been paid (known as "notice of dishonor") and c) to obtain an official certification of nonpayment (known as "protest"). Borrower consents that the Holder hereof may extend the time of payment or otherwise modify the terms of payment of any part or the whole of the debt evidenced by this Note, by agreement between the Holder and Borrower, and such consent shall not alter or diminish the liability of any person or the enforceability of this Note. Each and every party signing or endorsing this Note binds itself as a principal and not a surety. In any action or proceeding to recover any sum herein provided for, no defense of adequacy of security, or that resort must first be had to security or to any other person shall be asserted. All of the terms, covenants, provisions, and conditions herein contained are made on behalf of, and shall apply to and bind, the undersigned and its successors and assigns, jointly and severally. 9. ColIection Costs if any attorney is engaged by the Agency to enforce or construe any provision of this Note or the Deed of Trust, or if Agency incurs any other expense by virtue of collecting sums due to the Agency under this Note, as a consequence of any default or event of default hereunder, with or without the filing of any legal action or proceeding, then Borrower shall Immediately pay upon demand all attorney fees and all other costs incurred by the 2 7/1oan doc/agencypromnote/02/22 /94 Agency, together with interest thereon from the date of such demand until paid at the rate of Interest applicable to the principal owing hereunder as If such unpaid attorney fees and costs have been added to the principal. 10. Security of NQte, This Note is secured by a Deed of Trust (The "Deed of Trust") of even date herewith executed by Borrower covering property located in Orange County, State of California, together with the buildings and improvements now or hereafter erected thereon. 11. Maximum Interest - No provision of this Note or any Instrument securing payment hereof or otherwise relating to the debt evidenced hereby shall require the payment or permit the collection of Interest in excess of the maximum permitted by applicable law. If any excess of interest in such respect is herein or in such other Instrument provided for, or shall be adjudicated to be so provided for herein or in any such Instrument, the provisions of this paragraph shall govern, and neither Borrower or any endorsers of this Note nor their respective heirs, personal representatives, successors or assigns shall be obligated to pay the amount of such Interest to the extent It Is in excess of the amount permitted by applicable law. 12. Business PuWse The undersigned warrants and represents that all funds advanced under this Note shall be applied and are Intended solely for personal, family or household purposes as set forth in the Agreement and not for any business or commercial purposes. 13. Nodce Any demand or notice to be made or given under the terms hereof or any instrument now or hereafter securing this Note by the Holder to Borrower shall be effective when mailed or delivered in the manner specified in the Deed of Trust. 14. Payments Deferred All Interest and principal payments will be deferred so long as the Borrower is in compiiance with the terms of this Note, the Affordable Housing Covenants or Agreements recorded on the Property, the Deed of Trust and the Loan Agreement. 3 7/loandoc/agencypromnote/02/22/94 IN WITNESS HEREOF, this instrument has been executed as of he date set forth below. —7 SIGNATORY DATE: DATE: APPROVED AS TO FORM: Zr—Aej- Al� Age nsel 4�7,.q �C ry 4 7/loandoc/agencypromme/02/ 14/94 By "Borrower" REDEVELOPMENT AGENCY OF THE CITY F HUNTINGTON BEACH By: Its: ti s Recording Requested By And When Recorded Return To - Redevelopment Agency of the City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 Attn: Executive Director PropertyAddress: 409 Utica Avenue B-21, Huntington Beach THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH LOAN DISCLOSURE STATEMENT I/We BA RA DIECKPIL•'Y£R ("Applicant") understand and agree that the provision of financial assistance from The Redevelopment Agency of the City of Huntington Beach ("Agency") is conditioned upon a number of factors, including, but not limited to: • INVe must qualify for a home loan from an institutional lender acceptable to the Agency. • I/We must pay at least 3% of the home purchase price from our own funds. • IIWe must qualify for assistance under the guidelines of the Agency's Program. I/We further understand and agree that: • I/We will be responsible for repaying the loan at the time I/we sell, transfer, refinance, or no longer occupy my/our home, or breach any part of the Loan Agreement. • IIWe have a right to cancel or rescind this loan at any time prior to midnight on the third business day after the loan agreement is signed by sending a notice of my/our decision to rescind or cancel the loan to: Redevelopment Agency of the City of Huntington Beach 2000 Main Street, P.O. Box 190 Huntington Beach, CA 92648 Attn: Executive Director 7%d15C1su72lt4l41 t • The Agency will not require me/us to make payments of principal or interest during the term of the loan. The full balance of principal and interest may be due and payable if 1/we do not comply with the terms of the agreement to which this statement is attached or when the Loan is assumed. There are no loan closing costs, prepayment penalties or charges, points, fees, finance charges, service charges, investigation fees, credit report fees, insurance premiums, notary or escrow fees, late payment charges or other fees payable pursuant to this loan. An appraisal fee may be payable upon the refinancing of my/our house. • The Agency shall not be held responsible for any costs associated with the institutional loan for the home Itwe purchase with such assistance including, but not limited to, any loan fees or charges, any charges for appraisals, or any escrow costs or other costs relating to the transfer of property. • The Agency cannot ensure that information provided by or on behalf of Applicant will be kept confidential. • The Agency shall not be responsible for the selection of a home by the Applicant, the selection of a lender providing funds assisting in the purchase of the home, providing information concerning other public or private sources of loans, or the competitiveness of the terms of the Program. I/we assume all responsibility for determining whether I/we desire to be considered for the Program, and Itwe will inform myself/ourselves as to the availability and terms of other public or private loans_ • The Agency shall not be charged with knowledge of the contents of the documents of the primary lender. • All loans must be approved by the Redevelopment Agency of the City of Huntington Beach; therefore, a minimum 60-day escrow is necessary. z T.1,,W.021:1d194 • The Agency financial assistance Ilwe receive under this Program may be considered to be income for purposes of federal or state income taxes and the Agency shall not be held responsible for the payment of any taxes which I/we may incur by virtue of the receipt of such financial assistance. Dated: Signature of applicant Dated: Signature of applicant Dated: Signature of applicant APPROVED AS TO FORM: 9 7WouhlQ?,"I�i94 •, PrG£nc RECORDRIG REQUESTED ORMIGE CAST TITLE Co. L& SUBMISION DEPI D - 17 72 RECORDI°IG REQUESTED BY ) 10—MAR_1994 03 a 59 t M ANI' WHEN RECORDED RETURN TO: ) Re:_orded in Official Records The Redevelopment Agency of the ) of Orange County, California City of Huntington Beach ) Lee A. Dran6y County Recorder 2000 Main Street ) Page l of 24 Fees: 0.0G Huntington Beach, California 92648 ) Tax' Attn: Agency Clerk ) [Space Above This Line For This document is exempt from recording fees pursuant to Govennment rode Section 6103. i / DEED OF TRUST WITH ASSIGNMENTS OF RENTS THIS DEED OF TRUST is made this 7TH day Of MAR , 19931 by and among BARBARA DIECKMEYER ,whose address is 409 Utica Ave. B-21 , (the I'SL "Trustor") and THE CITY OF HUNTINGTON BEACH, a municipal corporation (the "Trustee") and THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, a public body corporate and politic (the "BENEFICIARY"), whose address is 2000 Main Street, Huntington Beach, California 92648. WITNESSETH: That Trustor Irrevocably Grants, Transfers and Assigns, to Trustee, in Trust, with Power of Sale, that property in the City of Huntington Beach, County of Orange, State of California, described legally in the Legal Description attached hereto as Exhibit "A" and incorporated herein. TOGETHER WITH: (a) all buildings, improvements and fixtures, now or hereafter placed thereon, it being understood and agreed that all classes of property attached or unattached used in connection herewith shall be deemed fixtures, (b) rents, issues and profits thereof, (c) any water rights and/or stock are appurtenant or pertain to said land, and (d) all sums of money payable on the purchase price of said property secured by a lien thereon or payable under any agreement for the sale 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, and all sums of money payable on the purchase price of said property secured by a lien thereon or payable under any agreement. A. FOR THE PURPOSE OF SECURING: 1. Payment of the sum of Twenty -Three Thousand & no/100--- with interest thereon according to the terms of a Promissory Note of even date herewith, made by Trustor, payable to the order of the Beneficiary and extensions or renewals thereof. 2. Payment of such additional sums with interest thereon as: (a) may be hereafter borrowed from the Beneficiary by the then record owner or owners of said property when OF ell 7\DEEDRENT\02/10/94/B 1 THIS IS A SECOND DEED - OF MUST THIS DEED OF TRUST IS JUNIOR AND SUBORDINATE TO THE DEED OF TRUST IN FAVOR OF SANWA BANK CALIFORNIA, A CALIFORNIA-CORPORATION, RECORDED CONCURRENTLY HEREWI-- ^, GOVERNMENT CODE 27361.7 I certify under the penalty of perjury that the illegible portion of this document, to which this statement is attached, reads as follows; March 7, 199X4, and Place of execution SANTA AM, CA Date 3,-q, gy OCT-8c ' Orange Coast Title Ccrrbk / t � evidenced by another Promissory Note or Notes, or (b) as may be added to the indebtedness secured hereby in accordance with the provision of this Deed of Trust. 3. Performance of each and every obligation, covenant, promise or agreement of Trustor contained herein in the Loan Agreement between Beneficiary and Trustor dated .MARCH 7 , 19934'and in that certain Affordable Housing Agreement currently recorded on the property, insofar as the terms and conditions of that agreement may apply to Trustor. 4. Payment, with interest thereon, future indebtedness or obligation of the Trustor (or of any successor -in -interest of the Trustor to said property) to the Beneficiary, whether created directly or acquired by assignment, whether absolute or contingent, whether due or not, whether otherwise secured or not, or whether existing at the time of the execution of the Deed of Trust, or arising thereafter. B. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR AGREES: 1. To keep said property in good condition and repair; to allow Beneficiary or its representatives to enter and inspect the premises at all reasonable times and access thereto, shall be permitted for that purpose; not to remove or demolish any building thereon; not to make alterations thereto without the consent of the Beneficiary; to suffer or permit no change in the general nature of the occupancy of the premises without Beneficiary's written consent; to complete or restore promptly and in good workmanlike manner any building which may be constructed, damaged or destroyed thereon, including, without restricting the generality of the foregoing, damage from termites and dry -rot; to pay when due all claims for labor performed and materials furnished in connection with such property and not to permit any mechanic's lien against such property; to comply with all laws affecting such property or requiring any alterations or improvements to be made thereon; not to initiate or acquiesce in any zoning reclassification without Beneficiary's written consent; not to commit or permit waste thereon; not to commit, suffer or permit any act upon such property in violation of the law; and to paint, cultivate, irrigate, fertilize, fumigate, prune, and do all other acts that from the character or use of said property may be reasonably necessary; to promptly pay all amounts due others upon agreements of lease or conditional sale of all fixtures, furnishings and equipment located thereon. If the loan secured hereby or any part thereof is being obtained or should any additional loan be made hereafter for the purpose of financing rehabilitation improvements on said property, Trustor further agrees, anything in this Deed of Trust to the contrary notwithstanding; (a) to complete the same in accordance with City approved plans and specifications satisfactory to Beneficiary; (b) to allow Beneficiary to inspect such property at all times during rehabilitation; (c) to replace any work or materials unsatisfactory to Beneficiary within fifteen (15) calendar days after written notice from Beneficiary of such fact, which notice may be given to Trustor by registered or certified mail, sent to his last known address, or by personal service of the same; (d) that work shall not cease on the rehabilitation of such improvements for any reason whatsoever for a period of fifteen (15) calendar days, whether consecutive or not, without the written permission of the Beneficiary; (e) to pay when due all claims of labor and materials furnished in connection with the said rehabilitation and not to permit any claims of lien for said work or material to be filed of record against the property; (f) not to permit any stop notice claims to be presented to Beneficiary. If said property is part of a larger tract upon which improvements will be constructed, Trustor shall make separate contracts and subcontracts for said construction which shall pertain to the said property only and shall keep separate, full and complete records of all work and materials 7\DEEDRENT\02/10/94/B 2 furnished to the said property. Trustee upon presentation to it of an affidavit signed by the Beneficiary setting forth facts showing a default by Trustor under this paragraph, is authorized to accept as true and conclusive all facts and statements therein, and to act thereon hereunder. 2. To provide, and maintain in force at all times with respect to said property, fire and other types of insurance as may be required by Beneficiary. All of such insurance shall have a loss payable endorsement in favor of Beneficiary, shall be for a term and in form, content, amount and in such companies as may be satisfactory to Beneficiary, and the policies therefor shall be delivered to and remain in possession of Beneficiary as further security for the faithful performance of these trusts. At least thirty (30) days prior to the expiration of any insurance policy, a policy or policies renewing or extending such expiring insurance shall be delivered to Beneficiary together with written evidence showing payment of the premium therefor and, in the event any such insurance policy and evidence of the payment of the premium therefor are not so delivered by Trustor to Beneficiary, Trustor by executing this Deed of Trust specifically requests Beneficiary to obtain such insurance and Beneficiary, without obligation to do so, without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may obtain such insurance through or from any insurance agency or company acceptable to it, pay the premium thereof, and may add the amount thereof to the indebtedness secured hereby, which amount shall bear a like rate of interest. Beneficiary may furnish to any insurance agency or company, or any other person, any information contained in or extracted from any insurance policy delivered to Beneficiary pursuant hereto and any information concerning the loan secured hereby. Neither Trustee nor Beneficiary shall be responsible for such insurance or for the collection of any insurance monies, or for any insolvency of any insurer or insurance underwriter. In case of insurance loss, Beneficiary is hereby authorized either (a) to settle and adjust any claim under the insurance policies provided for in this document without the consent of the Trustor, or (b) to allow Trustor to agree with the insurance company or companies on the amount to be paid upon the loss. In either case, the Beneficiary is authorized to collect and make receipt of any such insurance money. If Trustor is obligated to restore or replace the damaged or destroyed buildings or improvements under the terms of any lease or leases which are or may be prior to the lien of this Deed of Trust and such damage or destruction does not result in cancellation or termination of such lease, such proceeds, after deducting therefrom any expenses incurred in the collection thereof, shall be used to reimburse the Trustor for the cost of rebuilding or restoring the buildings or improvements on said premises. In all other cases, such insurance proceeds, at the option of the Beneficiary, shall either be applied in reduction of the indebtedness secured hereby whether due or not, or in such order as Beneficiary may determine, or be held by the Beneficiary and used to reimburse the Trustor for the cost of the rebuilding or restoring the buildings or improvements on said premises. Such buildings and improvements shall be so restored or rebuilt as to be of at least equal value and substantially the same character as prior to the damage or destruction, and shall be in a condition satisfactory to Beneficiary. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. Any and all unexpired insurance shall inure to the benefit of, and pass to the purchaser of, the property conveyed at any Trustee sale held hereunder. 3. To pay: (a) at least ten (10) days before delinquency, all general and special City and County taxes, and all assessments on appurtenant water stock, affecting such property, (b) when done, all special assessments for public improvements, without permitting any improvement bond to issue for any special assessment (c) when done, all encumbrances, charges and lines, with interest, on said property, or any part thereof, which are or appears to be prior to superior hereto, (d) if the security of this Deed of Trust is leasehold estate, to make any payment or do any act 7\DEEDRENT\02/ 10/94/B 3 required of the Lessee or its successor in interest under the terms of the instrument or instruments creating said leasehold, (e) all costs, fees and expenses of this trust, (f) for any statement regarding the obligation secured hereby any amount demanded by Beneficiary not to exceed the maximum allowed by law thereof at the time when such request is made, (g) such other charges for services rendered by Beneficiary and furnished at Trustor's request or that of any successor in interest to Trustor as the Beneficiary may deem reasonable. If, by the laws of the United States of America, or of any state having jurisdiction over the Trustor, any tax is due or becomes due in respect to the issuance of the Note hereby secured, the Trustor covenants and agrees to pay such tax in the manner required by such law. Should Trustor fail to make any such payment, Beneficiary may elect to make such payment, Beneficiary may elect to make such payment and any amount so paid may be added by Beneficiary to the indebtedness secured hereby and shall bear a like rate of interest. 4. That, should Trustor fail to make any payment or do any act as provided in this Deed of Trust, the Beneficiary or Trustee, but without obligation to do so and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may (a) make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon said property for such purposes, (b) commence, appear in, or defend any action or proceeding purporting to affect the security hereof or the property covered by this Deed of Trust, or the rights or powers of Beneficiary or Trustee, (c) pay, purchase, contest or compromise any encumbrance, charge or lien, which in the judgment of either is or appears to be prior or superior hereto; and (d) in exercising any such powers, pay necessary expenses, employ counsel and pay his reasonable fees. Trustor agrees to repay any amount so expended on demand of Beneficiary, and any amount so expended may be added by Beneficiary to the indebtedness secured hereby and shall bear a like rate of interest. 5. To appear in and defend any action or proceeding purporting to affect the security hereof or the property which is covered by this Deed of Trust, or the rights or powers of Beneficiary or Trustee, and whether or not Trustor so appears or defends, to pay all costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear by virtue of being made a party defendant or otherwise irrespective of whether the interest of Beneficiary or Trustee in such property is directly questioned by such action, including any action for the condemnation or partition of said premises, and in any suit brought by Beneficiary to foreclose this Deed of Trust. 6. To pay immediately and without demand, all sums expended under the terms of this Deed of Trust by Beneficiary or Trustee, with interest from the date of expenditure at the rate which the principal obligation secured hereby bears at the time such payment is made, and the repayment of such sums shall be secured hereby. 7. That, should the Trustor or any successor in interest to Trustor in such property drill or extract, or enter into a lease for drilling or extraction of oil, gas or other hydrocarbon substances or any mineral of any kind or character, or sell, convey, further encumber, or alienate said property, or any party thereof, or any Interest therein, or be divested of his title or any interest therein in any manner or way, whether voluntarily or involuntarily, Beneficiary shall have the right, at its option, to declare any indebtedness or obligations secured hereby irrespective of 7\DEEDRENT\02/10/94/B 4 the maturity date specified in any Note evidencing the same, immediately due and payable, and no waiver of this right shall be effective unless in writing. 8. That any award, settlement or damages for injuryor damages to such property, or in construction with the transaction financed by such loan, and any award of damages in connection with any condemnation for public use of or injury to said property, or any part thereof, is hereby assigned and shall be paid to Beneficiary, who may apply or release such monies received by it in such manner and with the same effect as above provided for the disposition of proceeds of fire or other insurance. 9. That, by accepting payment of any sums secured hereby after its due date, or by making any payment, performing any act on behalf of Trustor, that Trustor was obligated hereunder, but failed, to make, or perform, or by adding any payment so made by Beneficiary to the indebtedness secured hereby, Beneficiary does not waive its right either to require prompt payment when due of all sums so secured or to declare a default for failure so to pay. 10. That at any time, or from time to time, without liability of the Beneficiary or Trustee thereof, and without notice, upon written request of Beneficiary and presentation of this Deed of Trust and any Note secured hereby for endorsement, and without affecting the personal liability of any person for payment of the indebtedness secured hereby, or the lien of the Deed of Trust upon the remainder of said property for the full amount of the indebtedness then or thereafter secured hereby, or the rights or powers of Beneficiary or the Trustee with respect to the remainder of said property, Trustee may: (a) reconvey any part of said property, (b) consent to the making of any map or plat thereof, (c) join in granting any easement thereon, (d) join in any agreement subordinating the lien or charge hereof. 11. That the lien hereof shall remain in full force and effect during any postponement or extension of time of payment of the indebtedness secured hereby, or any part thereof. 12. That, upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed of Trust and said Note or Notes to Trustee for cancellation and retention, and upon payment of its fees, Trustee shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters of fact shall be conclusive of the truthfulness thereof. The grantee in such reconveyance may be described as "the person or persons legally entitled thereto." Such request and reconveyance shall operate as re -assignment of the rents, issues, royalties and profits assigned to Beneficiary. Five (5) years after issuance of such full reconveyance, Trustee may destroy said Note and this Deed of Trust (unless directed in such request to retain them). 13. That as additional security, Trustor irrevocably assigns to Agency the rents, issues, and profits of the property affected by this Trust Deed for the purposes and upon the terms and conditions set forth below. This assignment shall not impose upon Agency any duty to produce rents from the property affected by this Trust Deed, or cause Agency to be (a) "mortgages in possession" for any purpose; (b) responsible for performing any of the obligations of the lessor under any lease; or (c) responsible for any waste committed by lessees or any other parties, for any dangerous or defective condition of the property affected by this Trust Deed, or for any negligence in the management, upkeep, or control of such rights to rents, issues and profits is not contingent upon, and may be exercised without possession of, the property affected by this Trust Deed. 7\DEEDRENT\02/ 10/94/B 5 Agency confers upon Trustor a license ("License") to collect and retain the rents, issues and profits of the property affected by this Trust Deed as they become due and payable, until the occurrence of a default hereunder. Upon such default, the License shall be automatically revoked and Agency may collect and retain.. the rents, issues and profits without notice and without taking possessions of the property affected by this Trust Deed. This right to collect rents, issues and profits shall not grant to Agency or Trustee the right to possession, except as otherwise provided herein; and neither said right, nor termination of the License, shall impose upon Agency or Trustee the duty to produce rents, issues or profits or maintain all or any part of the property affected by this Trust Deed. If Trustor shall default as aforesaid, Trustor's right to collect any such money shall cease and Beneficiary shall have the right, with or without taking possession of the property affected hereby, to collect all rents, issues, royalties and profits and shall be authorized to, and may, without notice and irrespective of whether declaration of default has been delivered to Trustee and without regard to declaration of default has been delivered to Trustee and without regard to the adequacy of the security for the indebtedness secured hereby, either personally or by attorney or agent without bringing any action or proceeding, or by receiver to be appointed by the Court, enter into possession and hold, occupy, possess and enjoy the said property, make cancel, enforce and modify leases, obtain and eject tenants, and set and modify rents and terms of rents, and to sue, and to take, receive and collect all or any part of the said rents, issues, and profits of the property affected hereby, and after paying such costs of maintenance, operation of said property, and of collection including reasonable attorneys' fees, as in its judgment it may deem proper, to apply the balance upon any indebtedness then secured hereby, the rents, issues, royalties and profits of said property being hereby assigned to Beneficiary for said purposes. The acceptance of such rents, issues, royalties and profits shall not constitute a waiver of any other right which Trustee or Beneficiary may enjoy under this Deed of Trust or under the laws of California. Failure of or discontinuance by Beneficiary at any time, or from time to time, to collect any such rents, issues, royalties or profits shall not in any manner affect the subsequent enforcement by Beneficiary of the right, power and authority to collect the same. The receipt and application by said Beneficiary of all such rents, issues, royalties and profits pursuant hereto, after execution and delivery of declaration of default and demand for sale as hereinafter provided, or during the pendency of Trustee's sale proceedings hereunder, shall not cure such breach or default not affect said sale proceedings, or any sale made pursuant thereto, but such rents, issues, royalties and profits, less all costs of operation, maintenance, collection and reasonable attorneys' fees, when received by Beneficiary, shall be applied in reduction of the indebtedness secured hereby, from time to time, in such order as Beneficiary may determine. Nothing contained herein, nor the exercise of the right by Beneficiary to collect, shall be, or be construed to be, an affirmation by Beneficiary of any tenancy, lease or option, nor an assumption of liability under, nor subordination of the lien or charge of this Deed of Trust to, any such tenancy, lease or option. 14. That if the security of this Deed of Trust is a leasehold estate, the Trustor agrees that: (a) the term "Lease" as used herein shall mean the lease creating the "leasehold estate"; (b) Trustor shall not amend, change or modify his leasehold interest, or the Lease, or agree to do so, without the written consent of the Beneficiary; (c) Trustor will promptly advise Beneficiary regarding any notice, request or demand received by him from the lessor under the Lease and promptly furnish Beneficiary with a copy of any such notice, request or demand; (d) as long as any of the indebtedness secured hereby shall remain unpaid, unless the Beneficiary shall otherwise consent thereto in writing, the leasehold estate shall not merge with the fee title but shall always be kept separate and distinct, notwithstanding the union of said estates in any party; (e) Trustor agrees that it will promptly, strictly, and faithfully perform, fulfill, and comply with all covenants, agreements, terms, conditions and provisions under any lease affecting the premises and to neither 7\DEEDRENT\02/10/94/B 6 do anything, nor to permit anything to be done which may cause modification or termination of any such lease or of the obligations of any lessee or person claiming through such lease or the rents provided for therein or the interest of the lessor or the Beneficiary therein or thereunder. Trustor further agrees he will not execute a Deed of Trust or mortgage which may be or become superior to any leasehold estate that is security for this Deed of Trust. In the event of a violation of any of the covenants set forth in this paragraph, Beneficiary shall have the right, at its option, to declare all sums secured hereby immediately due and payable. Consent to or waiver of one of said violations shall not be deemed to be a consent to or waiver or any other violation. It the security for this Deed of Trust is a leasehold estate, the term "property" as used in this Deed of Trust shall be deemed to mean the leasehold estate whenever the context so requires for the protection of the Beneficiary. 15. That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement, and the Promissory Note, if applicable, hereunder, and upon default by Trustor under the terms of any encumbrance, charge or lien which is or appears to be prior or superior hereto, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written declaration of default and demand for sale of written notice of default and of election to cause to be sold said property, -which notice Trustee shall cause to be filed for record. Beneficiary shall also deposit with Trustee this Deed of Trust and any Notes and all documents evidencing expenditures, secured hereby. After the lapse of such time as then may be required by law following recordation of such notice of default, and notice, of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell said property at the time and place fixed by it in such notice of sale, whether as a whole or in separate parcels, and in such order as it may determine, at public auction to the highest bidder for case in lawful money of the United States, payable at time of sale. Trustee may postpone sale of all or any portion of said property by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public announcement at the time fixed by the preceding postponement. Trustee shall deliver to such purchaser its Deed conveying the property so sold, but without any covenant or warranty, express or implied. The recital in such Deed of any matters of fact shall be conclusive of the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary as hereinafter defined, may purchase at such sale. Trustee may also sell at any such sale and as part thereof any shares of corporate stock securing the obligations secured hereby, and Trustor waives demand and notice of such sale. (Beneficiary at its option may also foreclose on such shares by independent pledge sale, and Trustor waives demand and notice of such sale). After deducting all costs, fees and expenses of Trustee, and of this Trust, including cost of evidence of title in connection with this sale, Trustee shall apply the proceeds of sale to payment, first; all sums expended under the terms hereof, not then repaid, with accrued interest at the rate then payable under the Note or Notes secured hereby, and then of all other sums secured hereby, and, if there are any proceeds remaining, shall distribute them to the person or persons legally entitled thereto. 16. To waive, to the fullest extent permissible by law, the right to plead any statute of limitations as a defense to any demand secured hereby. 17. That Beneficiary may, from time to time, by instrument in writing, substitute a successor or successors to any Trustee named herein or acting hereunder, which instrument, executed and acknowledged by Beneficiary and recorded in the office of the recorder of the county or counties where such property is situated, shall be conclusive proof of property substitution of such successor Trustee or Trustees, who shall, without conveyances from the 7\D EED RENT\02/10/94/B 7 • Trustee predecessor, succeed to all its title, estate, rights, powers and duties, including but not limited to the power to reconvey the whole or any part of the property covered by this Deed of Trust. Such instrument must contain the name of the original Trustor, Trustee and Beneficiary hereunder, the book and page where this Deed of Trust is recorded. If notice of default shall have been recorded, this power of substitution cannot be exercised until after the costs, fees and expenses of the then acting Trustee shall have been paid to such Trustee, who shall endorse receipt thereof upon such Instrument. The procedures herein provided for substitution of Trustee shall not be exclusive of other provisions for substitution provided by law. 18. That this Deed of Trust applies to, inures to the benefit of, and binds all parties hereto, -their heirs, legatees, devisees, administrators, executors, successors and assigns. The tern "Beneficiary" shall mean the owner and holder, Induding pledgee, of the Noce secured hereby, whether or not names as Beneficiary herein. _in this Deed of Trust, whenever the context so requires, the masculine gender Includes the feminine and/or neuter, and the singular number includes the plural. 19. That in the event the property secured by this Deed of Trust is Income producing property consisting of four units or more, Trustor agrees to file with Beneficiary, at Beneficiary's request, monthly, on or before the 15th day of each month, a written operational report. Such operational report shall contain a brief but complete statement of the month's income and expenses of such property, a list of all vacancies, and a statement of any material change In the property or business carried on therein for such period. 20. That in the event of a demand for, and the preparation and delivery of a written statement regarding the obligations secured by this Deed of Trust pursuant to Sections 2943 and 2954 of the Civil Code of California, Beneficiary shall be entitled to make a reasonable change, not exceeding the maximum amount which is permitted by law at the time the statement is fumished. Beneficiary may also charge Trustor a reasonable fee for any other services rendered to Trustor or rendered in Trustor's behalf in connection with said property of this Deed of Trust, including changing Beneficiary's records pertaining to this Deed of Trust and the loan secured hereby In connection with the transfer of said property, or releasing an existing policy of fire Insurance or other casualty Insurance held by Beneficiary and replacing the same with another such policy. 21. That Trustee accepts this Trust when this Deed of Trust, duly executed and acknowledged, Is made a public record as provided by law. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action or proceeding In which Trustor, Beneficiary, or Trustee shall be a panty unless brought by Trustee. 22. That should this Deed of Trust or any Note secured hereby provide any fee for prepayment of any indebtedness secured hereby, Trustor agrees to pay said fee, if any, of said Indebtedness shall be paid prior to the due date thereof stated in said Note or this Deed of Trust even if notwithstanding Trustor shall have defaulted in payment thereof, or in performance of any agreement hereunder, and Beneficiary, by reason thereof, shall have declared all sums secured hereby immediately due and payable. 23. That Trustor has made certain representations 'and disclosures in order'to induce Beneficiary to make the loan evidenced by the Promissory Noce or Notes which this Deed of Trust secures, and in the event that Trustor has made any material misrepresentation or failed to disclose 71DEEDRENT'102/ 1 o194/B 8 any material fact, Beneficiary at its option and without notice, shall have the right to declare the indebtedness secured hereby, irrespective of the maturity date specified in such Note or Notes, immediately due and payable, and on failure to so pay Beneficiary may make a written declaration of default and demand for sale as in paragraph No. 15 herein set forth. Trustee, upon presentation to it of an affidavit signed by Beneficiary setting forth facts showing a default by Trustor under this paragraph, is authorized to accept as true and conclusive all facts and statements therein, and to act thereon hereunder. Any notice which any party hereto may desire or be required to give to the other party shall be in writing. The mailing thereof must be certified mail addressed to the Trustor at his address hereinabove set forth or to the Beneficiary at his office or at such other place as such parties hereto may designate in writing. 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. TRUSTEE: TRUSTOR: THE CITY OF HUNTINGTON BEACH rr �% By: By: C( "`'`"— BARBARA DIECKMEYER Title: die - o Cam- By: BARBARA A. kAISER Dir. of Eco. Development By: BENEFICIARY: THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH By; Michael T. U eruaga, Executive Director APPROVED AS TO FORM: � AIL) 7°" d Ag cy unsel Cam,' AIL HUTTON 7\DEEDRENT\02/ 10/94/B 9 ' TI co a E 0 U m U d E Q LL m m a c� CO I t 0 1 1 l� STATE OF CALIFORNIA COUNTY OF On I personally appeared } }ss me, Ue- PeLaaaa�! yin +a'n+u (or proved to me on the basis of satisfactory evidence) to be the person('{ whose name) isfafe subscribed to the within instrument and acknowledged to me that 4je/she/##my executed llthe same in hrs/her/ttreir authorized capaci lo/s), and that by Ftr her/therr signature(4) on the instrument the person(Wor the entity upon behalf of which the persor/s) acted, execu the instrument ME E. wiff 10 WITNESqh seal ®® COMM # 978764 NOTARY PUBLIC -County SignaturMY Corm E� es Nov.2, 1996 -5 (This area for official notarial seaq GOVERNMENT CODE 27361.7 I CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED REA,D`S. AS FOLLOWS: NAME OF THE NOTARY: , d 1/ �, �� �- 11lh� DATE COMMISSION EXPIRES: q(0 COUNTY WHERE BOND IS FILED: Q��1Gi COMMISSION NO.: MANUFACTURER/VENDOR NO.: PLACE OF E I SIGNATURE: X No Lj t2, 4 ORANGE COAST TITLE COMPANY DATE:<3 - Form No. OCT-8b FM�iw����1��'`5�`5���'\�'C1'�ti\�^.��.'�'�i1i.' Statg of Cour ty of MIUWA On a/,�3 before me, DATE personally appeared OF !G.,'JANE DOE, personally known to me - OR - ❑ proved-t�Ft4he-basis-of-satisfactory-evidgrice to be the person(s) whose name(-s)- is/tee subscribed to the within instrument and ac- OMMAL SEAL knowledged to me that he/she/they executed °.�.. jjDy rjCHARD5 the same in hrs/her/tom authorized NotoV Poc-Cmc+'et,"7 capacity('i-sj, and that by Ins/her/thmir MMIGE COUM signature(s) on the instrument the person*, �o or the entity upon behalf of which the person(sj acted, executed the instrument. WITNESS my hand and official seal. No.5193 o OPTIO�AL SECTION o CAPACITY CITAIMED BY SIGNER Though statute doe not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. INDIVIDUAL CORPORATE OFFICER(S) TITLE(S) PARTNER(S) LIMITED GENERAL ATTORNEY -IN -FACT TRUSTEE(S) GUARDIAN/CONSERVATOR OTHER: . SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(IES) �w /! SIGNATURE OF NOTARY ✓ OPTIONAL SECTION Ll THIS CERTIFICATE MUST BE ATTACHED TO TITLE OR TYPE OF DOCUMENT THE DOCUMENT DESCRIBED AT RIGHT: NUMBER OF PAGESDATE OF/DOCUMENT Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form. SIGNER(S) OTHER THAN NAMED ABOVE ©1993 NATIONAL NOTARY ASSOCIATION - 8236 Remmet Ave., P.O. Box 7184 - Canoga Park, CA 91309-7184 GOVERNMENT CODE 27361.7 I CERTIFY UNDER THE PENALTY OF PERJURYTHATTHE NOTARY SEAL ON THE DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS: NAME OF NOTARY SUJdA'dciQ14S DATE COMMISSION EXPIRES COUNTY WHERE BOND IS FILEDi AK tTV/ 11[ _A nn9 PLACE OF EXECUTION 1MAC(A— DATE 1 I �Q AoA Xa Q�"CA ORANGE COAST TITLE COP PANY Form No. OCT-6b I 1, 1 CALI]FORN19A ALL-PURPOSE ACKNOWLEDGMENT �ti1��'••��`ti�4�:i`��'•5�1��•�S�`�.5�-" tiStiti1'��-�'tia`i.��'=StiStiti�.ti1ti' S����-�'S1��\R�Sti���11 State of jCounty • me40- 1i DATE . • DOE, personally appeared personally known THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED AT RIGHT: Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form. I to be the person.(s4 whose name(( is/are- subscribed to the within instrument and ac- knowledged to me that he/s 4e" executed the same in his/h-er-/.t-u.®-i.r authorized capacity(-i-es,- and that by his/hef4he4 signatureon the instrument the persons , or the entity upon behalf of which the person(s)-acted, executed the instrument. WITNESS my hand and official seal. No. 5193 l OPTIONAL SECTION � CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. �[] INDIVIDUAL CORPORATE OFFICER(S) TITLE(S) PARTNER(S) LIMITED GENERAL ATTORNEY -IN -FACT TRUSTEE(S) GUARDIAN/CONSERVATOR OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(IES) (SIGNATURE OF NOTARY I (/® OPTIONAL SECTION TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES— DATE OF CUMENT SIGNER(S) OTHER THAN NAMED ABOVE ©1993 NATIONAL NOTARY ASSOCIATION • 8236 Remmet Ave., P.O. Box 7184 • Canoga Park, CA 91309-7184 GPVERNMENT CODE 27361.7 ICERTIFY UNDER THE PENALTY OF PERJURYTHATTHE NOTARYSEAL ON THE DOCUMENT TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS: NAME OF NOTARY It A DATE COMMISSION EXPIRE 1_ 3—T,5 COUNTY WHERE BOND IS FILED.I-��Aan &-- PLACE OF EXECUTION L&/ fI 1 iY DATE OdAJI ORANGE COAST TITLE COM 144 Form No. OCT-81b RIDER TO REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH DEED OF TRUST AFFORDABLE HOUSING PROGRAM This rider to the Redevelopment Agency of the City of Huntington Beach Deed of Trust which was executed by BARBARA DIECKMEYER (Trustor for the property located at 409 Utica Avenue, B-21) is subject to the terms and conditions of that certain Loan Agreement entered into by and between Beneficiary and Trustor dated MARCH 7 , 199_, to which this rider is attached as Exhibit "C" and incorporated by reference (the "Loan Agreement"), pursuant to which Beneficiary has agreed to loan Trustor the sum of Twenty -Three Thousand and no/100 Dollars ($23,000.00) (the "Loan Amount") with simple interest to accrue at five percent (5%) yearly. All terms in this Rider to Redevelopment Agency of the City of Huntington Beach Deed of Trust, if not separately defined herein, shall have the meanings as defined in the Loan Agreement. 1. Acceleration/Due on Sale. Except as provided herein, the Loan and all interest accrued thereon shall be due and payable upon (1) sale or transfer to a Buyer not qualified to participate in the Agency's Affordable Housing Loan Program or not approved by the Agency ("Qualified Buyer"), or other disposition of the Property, including, without limitation, lease, exchange or rent of any part of the Property, (ii) the refinancing of the First Mortgage for a loan amount in excess of the then current loan balance or for any authorization period longer than the Loan secured by the First Mortgage, or (iv) Trustor being in material default of any other obligation contained in this Agreement or any provision of the Affordable Housing Agreement or Covenant, as defined herein, recorded on the Property, or (v) Trustor violates any condition of the Deed of Trust or Promissory Note, or (vi) the death of Trustor (unless the Trustor's household, occupying the Property, contains more than one qualified participant in the affordable housing program pursuant to which this Loan is being made, and at least one qualified participant survives). At the request of Trustor, the Agency may, in its sole discretion, extend the term of the Loan. 7/loan doc/agcyridr/02/22/94 2. Occupancy Standards. The Property shall be used as the personal residence of Trustor and Trustor's immediate family and for no other purpose. Trustor shall not enter into an agreement for the rental or lease of the Property. 3. Protectionof Beneficiary's Rights in the Property. A. If Trustor fails to perform the covenants and agreements contained in this Deed of Trust, or there is a legal proceeding that may significantly affect Beneficiary's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Beneficiary may do and pay for whatever is necessary to protect the value of the Property and Beneficiary's rights in the Property. Beneficiary's actions may include paying any sums secured by a lien which has priority over this Deed of Trust, appearing in court, paying reasonable attorney's fees and entering on the Property to make repairs. Although Beneficiary may take action under this Section, Beneficiary does not have to do so. B. Any amount disbursed by Beneficiary under this section, shall become additional debt of Trustor secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the highest rate permitted by law and shall be payable, with interest, upon notice from Beneficiary to Trustor requesting payment. 4. Equity Share. In the event that the Agency Loan becomes due and payable prior to the thirtieth anniversary of the date of the Loan Agreement, Trustor shall pay to Beneficiary concurrent with the principal and accrued interest, an amount equal to the "Equity Share Amount." The Equity Share Amount shall be determined by applying a percentage factor (the "Applicable Factor") to the difference between the Sales Price and the Purchase Price (defined below) as follows: 1. Prior to fifth anniversary fifty percent of the Agency Deed of Trust: (50%) 2 7/loandoc/agcyri dr/02/22/94 2. After fifth anniversary but forty-eight percent prior to sixth anniversary: (48%) 3. After sixth anniversary but forty-six percent prior to seventh anniversary: (46%) 4. After seventh anniversary but forty-four percent prior to eighth anniversary: (44%) 5. After eighth anniversary but forty-two percent prior to ninth anniversary: (42%) 6. After ninth anniversary but forty percent (40%) prior to tenth anniversary: 7. After tenth anniversary but thirty-eight percent prior to eleventh anniversary: (38%) 8. After eleventh anniversary but thirty-six percent prior to twelfth anniversary: (36%) 9. After twelfth anniversary but thirty-four percent prior to thirteenth anniversary: (34%) 10. After thirteenth anniversary but thirty-two percent prior to fourteenth anniversary: (32%) 11. After fourteenth anniversary but thirty percent (30%) prior to fifteenth anniversary: 12. After fifteenth anniversary but twenty-eight percent prior to sixteenth anniversary: (28%) 13. After sixteenth anniversary but twenty-six percent prior to seventeenth anniversary: (26%) 14. After seventeenth anniversary but twenty-four percent - - . - - --prior to eighteenth anniversary: (24%) 3 MoAndoc/,gcyridr/02122194 15. After eighteenth anniversary but twenty-two percent prior to nineteenth anniversary: (22%) 16. After nineteenth anniversary but twenty percent (20%) prior to twentieth anniversary: 17. After twentieth anniversary but eighteen percent prior to twenty-first anniversary: (18%) 18. After twenty-first anniversary but sixteen percent (16%) prior to twenty-second anniversary: 19. After twenty-second anniversary but fourteen percent prior to twenty-third anniversary: (14%) 20. After twenty-third anniversary but twelve percent (12%) prior to twenty-fourth anniversary: 21. After twenty-fourth anniversary but ten percent (10%) prior to twenty-fifth anniversary: 22. After twenty-fifth anniversary but eight percent (8%) prior to twenty-sixth anniversary: 23. After twenty-sixth anniversary but six percent (6%) prior to twenty-seventh anniversary: 24. After twenty-seventh anniversary but four percent ON prior to twenty-eighth anniversary: 25. After twenty-eighth anniversary but two percent (2%) prior to twenty-ninth anniversary: 26. After twenty-ninth anniversary but one percent (1 %) prior to thirtieth anniversary: 27. After thirtieth anniversary: zero percent (0%) 4 7/1oandoc/agcyridr/02/22/94 The "Purchase Price" is the original purchase price paid by the Participant to the Seller for Seller's interest In the Property, exclusive of escrow fees, title insurance costs, broker's commission, loan fees or any other closing or transaction costs. The "Sales Price" is the price to be paid by the buyer of the Property (the "Buyer") to Participant for Participant's interest in the Property, exclusive of escrow fees, title insurance costs, broker's commissions, loan fees or any other closing or transaction costs. In the event of sale of the Property and at the election of the Agency, the Agency may appoint a certified, independent appraiser to conduct any appraisal of the Property, at Participant's expense to assist the Agency in determining if the Sales Price is at or near the fair market value of the Property at such time. If the Sales Price Is determined by the appraisal to be three percent (3%) or more below the fair market value of the Property as estimated in said appraisal, then the "Sales Price" for purposes of determining the Equity Share Amount shall be the fair market value of the Property established in said appraisal. PARTICIPANT ACKNOWLEDGES AND AGREES THAT IN THE EVENT THAT THE LOAN WHICH THE DEED OF TRUST SECURES BECOMES DUE AND PAYABLE PRIOR TO THE 30TH ANNIVERSARY OF THE LOAN AGREEMENT, PARTICIPANT SHALL PAY TO AGENCY AN EQUITY SHARE AMOUNT EQUAL TO A PERCENTAGE SHARE OF THE APPRECIATION OF THE PROPERTY AS CALCULATED PURSUANT TO THIS SECTION. THE AGENCY ACKNOWLEDGES AND AGREES THAT PARTICIPANT SHALL ONLY PAY THE EQUITY SHARE AMOUNT TO THE AGENCY IF, AND ONLY IF, PARTICIPANT FAILS TO ABIDE BY COVENANTS OR OTHERWISE FAILS TO COMPLY WITH THE PROVISIONS OF THIS AGREEMENT OR PARTICIPANT SELLS THE PROPERTY TO A BUYER NOT QUALIFIED 8Y E AGENCY IN ACCORDANCE WITH PARAGRAPH "C" BELOW. 6A MICHAEL T. UBERUAGA PARTICIPANT/TRUSTOR AGENCY 5 7/Ioandoc/agMidr/02/22/94 0 The value of all capital improvements to the Property made while Participant owned and occupied the Property shall be deducted from the Sales Price when calculating the Equity Share Amount, if Participant complies with the following: The costs incurred by the Participant for capital Improvements shall be deducted from the Sales Price only if Participant submits the following to the Agency: (i) an itemized list of the Improvements, (li) reliable proof of completion of the Improvements (as evidenced e.g., by final building permits or certificate of completion), and (Ili) reliable evidence of the cost of the improvements and that Participant paid those costs (as evidenced e.g., by an itemized invoice or receipt). Notwithstanding the foregoing, Participant's obligation to pay the Equity Share Amount is subject to a superior right of Participant, upon termination of the Agency Loan, to receive repayment of money paid by the Participant without Agency assistance for purchase of the Property (including down payment, Installment payments of mortgage principal pursuant to the First Lien, escrow fees, transfer taxes, recording fees, brokerage commissions, and similar costs actually paid by the Participant) and money paid by the Participant for capital improvements to the Property. 5. New Loan to Qualified Buyer. Notwithstanding the provisions herein above, if the Property is sold by the Trustor to a Buyer of low or moderate income, as defined by Section 50093 of the Califomia Heallb and Safgty Code, or any provision of law which may be enacted In the future, replacing Section 50093 or the law which defines "low or moderate" income for the purposes of affordable housing, and approved by Agency, ("Eligible Person or Family") and the Sales Price does not exceed an "affordable housing cost," as defined by Section 50052.5 of the Cafifornia-Health and Safety Code, to such Buyer, and the Buyer assumes the Trustor's loan, then no Equity Share Amount is due to the Beneficiary upon such sale. In order to verify the Buyer's status as an Eligible Person or Family, Trustor shall submit to the Beneficiary, together with the 6 7 Aciandoc/agcyriar/02/22/94 notice of proposed sale pursuant to the Loan Agreement, the identity of the proposed Buyer and adequate information evidencing the income of the proposed Buyer. Said income information shall Include original or true copies of pay stubs, income tax records or other financial documents in order that the Beneficiary may determine and verify the household income of the proposed Buyer to determine Eligible Person or Family status and whether the Property Is available to such Buyer at affordable housing cost. if the Beneficiary Is unable to verify the Buyer's income as provided herein, then the Buyer's income shall be deemed to exceed the maximum allowable income limit for Eligible Persons and Families and the Equity Share Amount shall be due and payable concurrent with the repayment of the Note Amount plus interest. In the event that sale or transfer Is made to an Eligible Person or Family, Interest which has accrued at the time of the sale (upon close of escrow) shall be due and payable. 6. Subordination. The Beneficiary has found and declared that an economically feasible method of financing, refinancing or assisting first time homebuyers pursuant to the Program on substantially comparable terns and conditions without subordination is not reasonably available. Any first lien on the Property ("First Lien") held by an Institutional lender or investor (the "Lender") shall be prior and superior to the Declaration and this Deed of Trust. Thus, In the event of a foreclosure or deed in Iieu of foreclosure of the First Deed of Trust, any provisions herein or any provisions In any other collateral agreement restricting the use of the Property to low or moderate Income households or otherwise restricting the Trustor's ability to self the Property shall have no further force or effect on subsequent owners or purchasers of the Property. Any person, including his successors or assigns (other than the Trustor or a related entity of the Trustor), receiving title to the Property through a foreclosure or deed in lieu of foreclosure of the First Deed of Trust shall receive title to the Property free and clear from such restrictions. 7. OblieadQn to Refrain from Discrimination. There shall be no discrimination against or segregation of any person, or group of persons, on account of race, color, creed, religion, sex, marital status, national origin, or ancestry, In the sale, lease, sublease, transfer, use, 7 7/lomdoc/agcyrldr/02/22/94 occupancy, tenure, or enjoyment of the Property, nor shall the Beneficiary itself or any person claiming under or through it establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees, or vendees of the City or any portion thereof. Trustor agrees it shall instruct the escrow holder for the acquisition of the Property by the Trustor that the order of recording in the escrow for the purchase of the Property by the Trustor shall occur as follows: 1) the First Lien; 2) the Declaration of Covenants, Conditions & Restrictions for Affordable Housing; and 3) the Agency Deed of Trust. The Trustor shall cause a Request for Notice to be recorded on the Property subsequent to the recordation of the First and Second Liens, deeds of trust, or mortgages, requesting a statutory notice of default as set for the in the California -ivil Code. IiUSTOR'S SIGNATURE BARBARA DIECKMEYER TRUSTOR'S SIGNATURE CITY OF H NTINGTON BEACH vLINDA MOULTON-PATTERSON Its: B�i9- 4 MAYOR REDEVELOPMENT AGENCY OF APPROVED AS TO FORM: THE CITY OF HUNTINGTON BEACH LINDA MOULTON--P.A TERSOY Agency Counsel Its: C%�-i�P��2 S�� GAIL HUTTON CHAIRPERSON 8 7/loandoc/agcyridr/02/22/94 v I } t STATE OF CALIFORNIA }ss. T COUNTY OF ) c i E On before me, yy� p m personally appeared��- (� C'�1 ►�`-� ' C or proved E c to me on the basis of satisfactory evidence) to be the person whose name(§'is/afe•subscribed to the within i instrument and acknowledged to me that he/she/they executed the same in has/her/their authorized capacity(ie!�, and that by tits/her/tlaeif signaturPK) on the instrument the pers n r t e enttj u�o�be�alf of which person acted, e 0DO E. LURE[ xecute the instr ent. e Comm. # 978764 NDTARY MIX - C"011m WITNESS h i I seal. f1 One CD o My Comm. Eukes Nov. 22, 1996 'J 0 co Signature 1 _ (This area for official notarial seal) } i ,GOVERNMENT CODE 27361.7 CERTIFY UNDER PENALTY OF PERJURY THAT THE NOTARY SEAL ON THE DOCUMENT TO WHICH THIS STATEMENT I ATTACHED REA S AS FOLLOWS: NAME OF THE NOTARY: I Rl1� _ -t DATE COMMISSION EXPIRES: /� �•� �9 COUNTY WHERE BOND IS FIILLEDO/-Anie COMMISSION NO.: q 7 £3 7 l- MANUFACTURER/VENDOR NO.: -PLACE OF EXEC ION: DATE: 1SIGNATURE: Q4 ORANGE COAST TITLE coeAkhy Form No. OCT-6 GOVERNMENT CODE 27361.7 91 CERTIFY UNDER THE PENALTY OF PERJURYTHATTHE NOTARY SEAL ON THE DOCUMENT (TO WHICH THIS STATEMENT IS ATTACHED READS AS FOLLOWS: NAME OF NOTARY -3 U8 iA t5, 6 C 1 DATE COMMISSION EXPIRES COUNTY WHERE BOND IS �FILED PLACE OF EXECUTIONDATE RANGE COAST TITLE COMPAN Form No. OCT-8b `CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No. 5193 State 'of County of r On a a'before DATE !. ! personally appeared TITLE OF OFFICER' E.G., "JANE '✓(,(9 A ; NAME(S) OF [� personally known to me - OR - ❑ pr I\ as+s-e#-sattsfaetor�evadeese to be the person(s-�whose name(s)• is/are- subscribed to the within instrument and ac- knowledged to me that-he/she/##ey executed the same in 44&/her/t4-e+r authorized OFFICIAL SEAL capacity(4est, and that by44+s-/her/+ke,4- JUDY RICHARDS Notary Public -California signatureM on the instrument the person¢&), ORANGE COUNTY or the entity upon behalf of which the NN Comrnlaeon Expires person#racted, executed the instrument. November 3, 1995 WITNESS my hand and official seal. THIS CERTIFICATE MUST BE ATTACHED TO THE,DOCUMENT DESCRIBED AT RIGHT: OIGNATUR5 OF NOTARY OPTIONAL SECTION ■ om TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES DATE ;Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form. SIGNER(S) OTHER THAN NAMED ABOVE OPTIONAL SECTION � CAPACITY CLAIMED BY SIGNER Though statute does not require the Notary to fill in ,the data below, doing so may prove invaluable to persons relying on the document. ❑ INDIVIDUAL CORPORATE OFFICER(S} 112,r�%�J "TITLE(S) ❑ PARTNER(S) ❑ LIMITED ❑ GENERAL ❑ ATTORNEY -IN -FACT w ❑ TRUSTEE(S) ❑ GUARDIAN/CONSERVATOR ❑ OTHER: SIGNER IS REPRESENTING: NAME OF PERSON(S) OR ENTITY(IES) ©1993 NATIONAL NOTARY ASSOCIATION - 8236 Remmet Ave.. P.O. Box 7184 - Canoaa Park. CA 91309-7184 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT No. 5193 State of _1A� OPTIONAL SECTION CAPACITY CLAIMED BY SIGNER "- County of Though statute does not require the Notary to fill in the data below, doing so may prove invaluable to persons relying on the document. On before me,YJ r DATE ME, TITLE OF OFFICER - E.G., "JANE DOE, N6TARY PUBLIC" ❑INDIVIDUAL O ATE OFFICER (�J personally appeared �' x p NAME(S) OF SIGNER(S) ITLE(S) p r personally known to me - OR - ❑ ❑ PARTNER(S) ❑ LIMITED to be the person(s)whose names} is/ -are ❑GENERAL subscribed to the within instrument and ac- ❑ ATTORNEY -IN -FACT knowledged to me that 4:llefshe/" executed ❑ TRUSTEE(S) OFFICIAL SEAL the same in -hy-siher/tiretr authorized ❑ GUARDIAN/COSERVATOR .• JUDY RICHARDS capacity(+@*, and that by 'b+ss her/the# Public-CalifonVa ❑ OTHER: Notary ORANGE COUNTY signature(s) on the instrument the person(*, f . W man Expires or the entity upon behalf of which the NalveKnber 3, 1995 person(sracted, executed the instrument. SIGNER IS REPRESENTING: WITNESS my hand and official Seal. NAME OF PERSON(S) OR ENTITY(IES) THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED AT'RIGHT: OF NOTARY =6mmmmlmi OPTIONAL SECTION TITLE OR TYPE OF DOCUMENT NUMBER OF PAGES. DATE OF'D//OCUMENT Though the data requested here is not required by law, it could prevent fraudulent reattachment of this form. SIGNER(S) OTHER THAN NAMED ABOVE ©1993 NATIONAL NOTARY ASSOCIATION - 8236 Remmet Ave.. P.O. Box 7184 - Canoaa Park. CA 91309-7184 2000 MAIN STREET OFFICE OF THE CITY CLERK CONNIE BROCKWAY CITY CLERK DEED CERTIFICATION CALIFORN[A 92648 This is to certify that the interest in real property conveyed by the deed dated March 7, 1994 from BARBARA DIECKMEYER to the City of Huntington Beach, a municipal corporation, is hereby accepted by the undersigned officer or agent on behalf of the City Council of the City of Huntington Beach, pursuant to the authority conferred by Resolution No. 3537 of the City Council of the City of Huntington Beach adopted on August 7, 1972, and the grantee consents to the recordation thereof by its duly authorized officer. Dated: March 9, 1994 CITY OF HUNTINGTON BEACH CONNIE BROCKWAY, CIVIC CITY C ERK r By. Deputy City Clerk k ( Telephone: 714536-5227 ) a, Z ! LOAN AGREEMENT THIS LOAN AGREEMENT (the "Agreement") is made this 7TH day of MAR r-ou , 19 94 by and between BARBARA DIECKMEYER ("Participant") and THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, a public body, corporate and politic ("Agency"). RECITALS A. Participant has entered into an agreement (the "Purchase Agreement") to purchase that certain real property commonly known as 409 Utica Avenue, B-21, Huntington Beach, California, and more particularly described in Exhibit "A" attached hereto and incorporated herein (the "Property"). B. Participant requires assistance to purchase the Property and would not be able to purchase the Property without such assistance. Participant is a person or family of low or moderate income and currently earns less than 79% of the current annual median income for the Orange County area, as those terms are defined by California Health and Safety Code Section 50093. C. Participant has represented to Agency that Participant and Participant's immediate family intend to reside in the Property at all times throughout the term of this Agreement. D. Agency desires to utilize tax increment money to assist persons of low and moderate income to purchase residential property to increase, improve, and preserve low and moderate income housing available at an affordable housing cost within the City of Huntington Beach, all of which is consistent with the goals of the Affordable Housing Program and the Huntington Beach Redevelopment Plans. E. The Agency wishes to lend, and Participant wishes to borrow, Program funds to assist Participant to purchase the Property upon the terms and conditions set forth herein. 7/abrisas/02/22/94 NOW, THEREFORE, for good and valuable consideration the parties agree as follows: 1. Agency Loan. Agency shall loan to Participant (the "Loan") the amount of Twenty -Three Thousand and no/100 Dollars ($23,000.00), subject to the conditions and restrictions set forth herein and those set forth in the Promissory Note, the Disclosure Statement for the Program, the Deed of Trust and all applicable state, local and federal laws. The Loan shall be paid to the seller of the Property (the "Seller") by the Agency through deposit of the Loan proceeds into escrow with T1EMPO ESCROW (the "Escrow Agent") (Escrow No. 6672-L ). The Agency shall direct the Escrow Agent to apply the proceeds of the Loan on behalf of Participant to the purchase price of the Property, and, at Participant's election, to the costs of closing, escrow fees, recording fees, loan points and fees, and/or document fees. At such time, Participant shall execute and deliver to the Agency a promissory note in favor of the Agency as holder, in the amount of the Loan, with interest at five percent (5%) per year. The Loan, together with accrued interest and the equity share amount, shall be due in the event that Participant fails to comply with the terms of this Agreement, the Deed of Trust and Rider thereto, any Covenants, Conditions & Restrictions for Affordable Housing or Affordable Housing Agreement which is recorded on the Property, or any other law, requirement or condition of the Affordable Housing Program or governmental entity or sells the Property to a non -qualified Buyer. Otherwise, no payment of principal or interest shall be required during the term of the Loan. Participant shall execute and deliver a Promissory Note substantially in the form of the Promissory Note attached hereto as Exhibit "B" and incorporated herein by this reference. Participant shall also execute and deliver to the Agency a deed of trust encumbering the Property which shall secure the Promissory Note (the "Deed of Trust"), in the form of Exhibit "C" attached hereto and incorporated herein. 2. Maintenance of Property. Participant shall maintain the improvements on the Property in a manner consistent with community standards and in a manner which will uphold the value of the Property, and shall keep the Property free from any accumulation of debris and waste materials. Participant agrees to comply with any and all covenants and agreements established by any homeowner's association or other regulatory entity recognized by area property owners and comply with all applicable federal, state and local laws. 2 7/abrisas/02/22/94 3. Acceleration/Due on Sale. The Loan, all interest accrued thereon and the equity share amount as defined herein below, shall be due and payable upon (i) sale, transfer, or other disposition of the Property, including, without limitation, lease, exchange or rent of any part of the Property, except sale to a purchaser approved by Agency, (11) the refinancing of the First Mortgage for a loan amount in excess of the then current loan balance or for an amortization period longer than the loan secured by the First Mortgage, or, (iii) Participant is in material default of any other obligation contained in this Agreement or any provision of the Affordable Housing Agreement or Covenant (Attachment "D" to this Agreement) recorded on the property, or (iv) Participant violates any condition of the deed of trust or promissory note, or (v) the death of Participant (unless the Participant's household, occupying the property, contains more than one qualified participant and at least one qualified participant survives). At the request of Participant, the Agency may, in its sole discretion, extend the term of the Loan. 4. New Loan to Qualified Buyer. Notwithstanding the provisions herein above, if the Property is sold by the Participant to a Buyer defined as a low or moderate income household by Section 50093 of the California Health and Safety Code (or any other provision of law which may be enacted in the future, replacing Section 50093 or the law which defines "low or moderate" income for the purposes of affordable housing), and said Buyer is approved by Agency, ("Eligible Person or Family") and the Sales Price does not exceed an "affordable housing cost," as defined by Section 50052.5 of the California Health and Safety Code (or any other provision of law replacing this section which may be enacted in the future), and the Buyer assumes the Participant's loan, then no Equity Share Amount is due to the Agency upon such sale and interest is due under the conditions set forth below. In order to verify the Buyer's status as an Eligible Person or Family, Participant shall submit to the Agency, together with the notice of proposed sale pursuant to the Loan Agreement, the identity of the proposed Buyer and adequate information evidencing the income of the proposed Buyer. Said income information shall include original or true copies of pay stubs, income tax records or other financial documents in order that the Agency may determine and verify the household income of the proposed Buyer to determine Eligible Person or Family status and whether the Property is available to such Buyer at an affordable housing cost pursuant to the standards set forth in the Agency's Affordable Housing Program. If the Agency is unable to verify the Buyer's income as provided herein, then the Buyer's income shall be deemed to exceed the maximum allowable income 3 7/abrisas/02/22/94 limit for Eligible Persons and Families and the Equity Share Amount shall be due and payable concurrent with the repayment of the Note Amount plus interest. In the event that sale or transfer is made to an Eligible Person or Family, interest which has accrued upon close of escrow shall be due and payable. Interest will begin to accrue at the simple rate of five percent per annum as to the new owner, on the date upon which escrow closes and will accrue on the then unpaid principal amount. 5. Notice to Agency, Participant agrees to notify the Agency not less than thirty (30) days prior to (1) the sale or transfer of the Property or (ii) any refinancing of the lien secured by the First Deed of Trust (the "First Mortgage) or any lien or note to which the lien secured by the First Deed of Trust is subordinate 6. Occupancy Standards. The Property shall be used as the personal residence of Participant and Participant's immediate family and for no other purpose. Participant shall not enter into an agreement for the rental or lease of the Property. 7. Income Information. Participant has submitted an eligibility verification form to the Agency prior to execution of this Agreement. Participant represents and warrants to the Agency that all information Participant has provided and will provide in the future is and will be true, correct and complete. Participant acknowledges that the Agency is relying upon Participant's representations that Participant's income does not exceed 79% of the area median income and would not have entered into this Agreement if Participant's income had exceeded 79% of the Orange County median income. 8. First Time Homebuyer. Participant represents and warrants to the Agency that neither Participant nor any of Participant's immediate family residing in the Property has, or has had, a present ownership interest in a principal residence at any time during all or any part of the three (3) years immediately prior to the funding of the Agency Loan. 9. Loan Servicing. The Agency may contract with a private lender to originate and service the Agency Loan. 10. Participant Financing. Participant shall obtain financing for the purchase of the Property from a reputable institutional lender approved by the 4 7/abrisas/02/22/94 Agency (the "Lender"). The lien secured by the Deed of Trust shall only be subordinate to a first lien on the Property held by the Lender or Lender's assigns. In addition, not less than three percent (3%) of the Purchase Price of the Property shall be paid in cash from Participant's own resources and not from the proceeds of a loan. 1 1. Covenants. Recorded in the Official Records of Orange County, California, Is a declaration of conditions, covenants and restrictions for property, which Is known as an Affordable Housing Agreement or (covenants) which Is attached as Exhibit "D" hereto and Incorporated herein. Participant agrees that the Property shall only be owned by Participant or other persons or families of low or moderate income available at an affordable housing cost, as those terms are defined In the Affordable Housing Agreement, and that Participant shall not discriminate against any person or group of persons on the basis of race, color, religion, sex, marital status, national origin or ancestry, all as set forth in the Affordable Housing Agreement. 12. Eaufty Share. In the event that the Agency Loan becomes due and payable prior to the thirtieth anniversary of the date of this Agreement, Participant shall pay to Agency concurrent with the principal and accrued interest, an amount equal to the "Equity Share Amount." The Equity Share Amount shall be determined by applying a percentage factor (the "Applicable Factor") to the difference between the Sales Price and the Purchase Price (defined below) as follows: 1. Prior to fifth anniversary of the Agency Deed of Trust: 2. After fifth anniversary but prior to sixth anniversary: 3. After sixth anniversary but prior to seventh anniversary: 4. After seventh anniversary but prior to eighth anniversary: E fifty percent (50%) forty-eight percent (48%) forty-six percent (46%) forty-four percent (44%) 7/abrhas/02/22/94 1 5. After eighth anniversary but forty-two percent (42%) prior to ninth anniversary: b. After ninth anniversary but forty percent (40%) prior to tenth anniversary: 7. After tenth anniversary but thirty-eight percent (38%) prior to eleventh anniversary: 8. After eleventh anniversary but thirty-six percent (36%) prior to twelfth anniversary: 9. After twelfth anniversary but thirty-four percent (34%) prior to thirteenth anniversary: 10. After thirteenth anniversary but thirty-two percent (32%) prior to fourteenth anniversary: 11. After fourteenth anniversary but thirty percent (30%) prior to fifteenth anniversary: 12. After fifteenth anniversary but twenty-eight percent prior to sixteenth anniversary: (28%) 13. After sixteenth anniversary but twenty-six percent prior to seventeenth anniversary: (26%) 14. After seventeenth anniversary but twenty-four percent prior to eighteenth anniversary: (24%) 15. After eighteenth anniversary but prior to nineteenth anniversary: 16. After nineteenth anniversary but prior to twentieth anniversary: 17. After twentieth anniversary but prior to twenty-first anniversary: M twenty-two percent (22%) twenty percent (20%) eighteen percent (18%) 7/aWsas/02/22/94 0 • 18. After twenty-first anniversary but sixteen percent (16%) prior to twenty-second anniversary: 19. After twenty-second anniversary but fourteen percent (14%) prior to twenty-third anniversary: 20. After twenty-third anniversary but twelve percent (12%) prior to twenty-fourth anniversary: 21. After twenty-fourth anniversary but ten percent (10%) prior to twenty-fifth anniversary: 22. After twenty-fifth anniversary but eight percent (8%) prior to twenty-sixth anniversary: 23. After twenty-sixth anniversary but six percent (6%) prior to twenty-seventh anniversary: 24. After twenty-seventh anniversary but four percent (4%) prior to twenty-eighth anniversary: 25. After twenty-eighth anniversary but two percent (2%) prior to twenty-ninth anniversary: 26. After twenty-ninth anniversary but one percent (1 %) prior to thirtieth anniversary: 27. After thirtieth anniversary: zero percent (0%) The "Purchase Price" is the original purchase price paid by the Participant to the Seller for Seller's interest in the Property, exclusive of escrow fees, title Insurance costs, broker's commission, loan fees or any other closing or transaction costs. The "Sales Price" is the price to be paid by the buyer of the Property (the "Buyer") to Participant for Participant's interest in the Property, exclusive of escrow fees, title Insurance costs, broker's commissions, loan fees or any other closing or transaction costs. 7 7/abrisu/02/22/94 • In the event of sale of the Property and at the election of the Agency, the Agency may appoint a certified, independent appraiser to conduct any appraisal of the Property, at Participant's expense to assist the Agency in determining if the Sales Price is at or near the fair market value of the Property at such time. if the Sales Price Is determined by the appraisal to be three percent (3%) or more below the fair market value of the Property as estimated in said appraisal, then the "Sales Price" for purposes of determining the Equity Share Amount shall be the fair market value of the Property established In said appraisal. PARTICIPANT ACKNOWLEDGES AND AGREES THAT UPON THE OCCURRENCE OF ANY OF THE EVENTS DESCRIBED IN PARAGRAPH 3 ABOVE, PRIOR TO THE 30TH ANNIVERSARY, PARTICIPANT SHALL PAY TO AGENCY AN EQUITY SHARE AMOUNT EQUAL TO A PERCENTAGE SHARE OF THE APPRECIATION OF THE PROPERTY AS CALCULATED PURSUANT TO THIS SECTION. EXCEPT AS PROVIDED HEREIN, THE AGENCY ACKNOWLEDGES AND AGREES THAT PARTICIPANT SHALL ONLY PAY THE NOTE AMOUNT AND THE EQUITY SHARE AMOUNT TO THE AGENCY IF, AND ONLY IF, PARTICIPANT FAILS TO CONTINUOUSLY OWN AND OCCUPY THE PROPERTY FOR THIRTY (30) YEARS, PARTICIPANT FAILS TO COMPLY WITH THE PROVISIONS OF THIS AGREEMENT, O PARTICIPANT SELLS THE PROPERTY TO A BUYER NOT QUeALALIIED BY T AGENCY. ARTICIPATIT AGENCY The value of all capital improvements to the Property made while Participant owned and occupied the Property shall be deducted from the Sales Price when calculating the Equity Share Amount, If Participant complies with the following: The costs incurred by the Participant for capital improvements shall be deducted from the Sales Price only If Participant submits the following to the Agency: (1) an Itemized list of the improvements, (ii) reliable proof of completion of the improvements (as evidenced e.g., by final building permits or certificate of completion), and (iii) reliable evidence of the cost of 8 7/jbr1sas/02/22/94 E the improvements and that Participant paid those costs (as evidenced e.g., by an itemized invoice or receipt). Notwithstanding the foregoing, Participant's obligation to pay the Equity Share Amount is subject to a superior right of Participant, upon termination of the Agency Loan, to receive repayment of money paid by the Participant without Agency assistance for purchase of the Property (including down payment, installment payments of mortgage principal pursuant to the First Lien, escrow fees, transfer taxes, recording fees, brokerage commissions, and similar costs actually paid by the Participant) and money paid by the Participant for capital improvements to the Property. 13. Non -Waiver. Failure to exercise any right the Agency may have or be entitled to, In the event of default hereunder, shall not constitute a waiver of such right or any other right In the event of a subsequent default. 14. indemnification. The Participant shall defend, indemnify and hold harmless the Agency and the City of Huntington Beach and Its respective officers, agents, employees, representatives and volunteers from and against any loss, liability, claim or judgment relating in any manner to the property or this Agreement. The Participant shall remain fully obligated for the payment of property taxes and assessments related to the Property. There shall be no reduction In taxes for Participant, nor any transfer of responsibility to the Agency to make such payments, by virtue of the Loan. 15. Insurance. Participant shall maintain, during the term of the Agency Loan, an all-risk property insurance policy Insuring the Property In an amount equal to the full replacement value of the structures on the Property. The policy shall name the Agency as loss payee and shall contain a statement of obligation on behalf of the carrier to notify the Agency of any material change, cancellation or termination of coverage at least thirty (30) days In advance of the effective date of such material change, cancellation or termination. Participant shall transmit a copy of the certificate of insurance and loss payee endorsement to Agency within thirty (30) days of the effective date of this Agreement, and Participant shall annually transmit to Agency a copy of the certificate of insurance and a loss payee endorsement, signed by an authorized agent of the Insurance 9 71jbnswO212 z194 carrier setting forth the general provisions of coverage. The copy of the certificate of Insurance and loss payee endorsement shall be transmitted to Agency as follows: REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH Attention: Executive Director 2000 Main Street Huntington Beach, CA 92648 Any certificate of Insurance must be in a form approved by the City Attorney. 16. Defaults. Failure or delay by either party to perform any term or provision of this Agreement which is not cured within thirty (30) days after receipt of notice from the other party constitutes a default under this Agreement; provided, however, if such default is of the nature requiring more than thirty (30) days to cure, the defaulting party shall avoid default hereunder by commencing to cure within such thirty (30) day period and thereafter diligently pursuing such cure to completion. The party who so falls or delays must immediately commence to cure, correct, or remedy such failure or delay, and shall complete such cure, correction or remedy with diligence. The injured parry shall give written notice of default to the party In default, specifying the default complained of by the injured party. Except as required to protect against further damages, the injured party may not institute proceedings against the parry In default until thirty (30) days after giving such notice. Failure or delay in giving such notice shall not constitute a waiver of any default, nor shall it change the time of default. - 17. DQcur7ents. Participant is aware that the Agency has prepared certain documents to Implement the Affordable Housing Program and secure repayment of the Loan. Participant has reviewed and agrees to the tenrs and conditions contained in the following documents prior to receiving the Loan: (a) Disclosure Statement (b) Promissory Note; (c) Deed of Trust; and 10 Pabrisas/02122199 (d) The Affordable Housing Agreement (Exhibit "D" ). (e) Notice of Right of Recission Participant agrees and acknowledges that the executed Deed of Trust, Disclosure Statement and the Affordable Housing Agreement shall be recorded with the County Recorder of the County of Orange and shall appear of record with respect to and as encumbrances to the Property. Participant further agrees to all terms and conditions of the Disclosure Statement which Is hereby incorporated as if fully set forth herein. 18. Further Assurances. The Participant shall execute any further documents consistent with the terms of this Agreement, including documents in recordable form, as the Agency shall from time to time find necessary or appropriate to effectuate its purposes in entering into this Agreement and making the Loan. 19. Goveming.1 w. This Agreement shall be governed by the laws of the State of Califomia. Any legal action brought under this Agreement must be Instituted in the Superior Court of the County of Orange, State of California, in an appropriate municipal court in that county, or In the Federal District Court In the Central District of California. 20. Amendment of Agreement. No modification, recission, waiver, release or amendment of any provision of this Agreement shall be made except by a written agreement executed by the Participant and Agency. 21. Agency May Assign. Agency may, at Its option, assign its right to receive repayment of the loan proceeds without obtaining the consent of the Participant. Participant assign or transfer any portion of this Agreement without the prior express written consent of the Agency, which consent may be given or withheld in the Agency's sole discretion. Assumption of the Loan shall be permitted, if consent is given by Agency. This section shall not prohibit the Agency's right to assign all or any portion of its rights to the loan proceeds hereunder. 7/"sis/02/22/94 23. Entire greement. This Agreement constitutes the entire understanding and agreement of the parties. This Agreement Integrates all of the terms and conditions mentioned herein or incidental thereto, and supersedes all prior negotiations, discussions and previous agreements between the Agency and the Participant concerning all or any part of the subject matter of this Agreement. 24. Relationship of Participant and Agen . The relationship of Participant and Agency pursuant to this Agreement is that of debtor and creditor and shall not be, or be construed to be a joint venture, equity venture, partnership, or other relationship. 25. Notices. Any notices, requests or approvals given under this Agreement from one party to another may be personally delivered or deposited with the United States Postal Service for mailing, postage prepaid, registered or certified mail, return receipt requested to the following address: To participant: r ��� 1 ec- L r— PS 1 To Agency: THE REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH Attention: Executive Director 2000 Main Street Huntington Beach, CA 92648 Either party may change its address for notice by giving written notice thereof to the other party. 26. In the event of a foreclosure or deed in lieu of foreclosure of the First Deed of Trust, any provisions herein or any provisions In any other collateral agreement restricting the use of the Property to low or moderate Income households or otherwise restricting the Borrower's ability to sell the Property shall have no further force or effect on subsequent owners or purchasers of the Property. Any person, including his successors or assigns (other than the Borrower or a related entity of the Borrower), receiving title to the Property through a foreclosure or deed in lieu of foreclosure of the First Deed of Trust shall receive title to the Property free and clear from such restrictions. 12 7/abr[sis/02/22/44 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year written below. "PARTICIPANT" Date:- By: Print Name:�� �iean'1e�2r Title: (-) L,0 n to r Date: By: Print Name: Tide: REDEVELOPMENT AGENCY OF THE CITY OF HUNTINGTON BEACH, a municipal corporation Date: 2 - 23 _ S Y. Print Name: T Lt / Its: t ;-ec- . APPROVED AS TO FORM: By: 4 L . GAIL HUT ONYR�r City Attorney/Agency Counsel 13 7/3brtsu/02/22/94 B- TYPE OF LOAN- U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT 1 FHA 2 FMHA 3 CONV UNINS A. VA 5 CONY INS S. FILE NUMBER 17 LOAN NUMBER 6672—L I 09922345 S MORTGAGE INSURANCE CASE NUMBER C NOTE This form rs furnished to give you a statement of actual settlement Cases Amounts paid to and by the settlement agent are shown Items marked _ -7p o e 1.. ware paid outside the Closing. they are shown here for informational puropses and are not tnCluded in the totals. D NAME OF BORROWER E NAME OF SELLER- BARBARA J. DIECKMEYER DELAWARE II 409 UTICA AVENUE #B-21 HUNTINGTON BEACH CA 92W F NAME OF LENDER G. PROPERTY LOCATION SANWA BANK 9020 E.- STE£LE STREET - - 409- UTICA AVENUEAB-21 ROSEMEAD CA 91770 HUNTINGTON BEACH, CA 92648 H SETTLEMENT AGENT PLACE OF SETTLEMENT I- SETTLEMENT DATE TIEMPO ESCROW, INC. 19093 BEACH BLVD. HUNTING" BEACH, CA 92648 03/10/94 J. SUMMARY OF BORROWER'$ TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION 100 GROSS AMOUNT DUE FROM BORROWER 400 GROSS AMOUNT DUE TO SELLER 101 Contract sales price , 401 Contract sales pace 114,W0.00 102. Personal property 402. Personel property -- 103 Settlement charges to borrower (Line 1400) 1,072.27 403_ t 04 404. 105 405- Adjustments for items paid by seller in advance Adjustments for items pard by seller in advance 106. City/toern/taxes to 408- City/town taxes to 107- County taxes to 401. County taxes t 2 8.72— 108 Assessments to 408_ Assessments to log HOA DUES 400 HOA DUES 1 6.50 Ito. 410. 112 12- 120 GROSS AMOUNT DUE FROM BORROWER 115, 457.49 420. GROSS AMOUNT DUE TO SELLER 114, 385. 22 200 AMOUNTS PAID BY OR IN BEHALF OF BORROWER 500 REDUCTIONS IN AMOUNT DUE TO SELLER: 201 Deposit or earnest money 9,939.66 S01 Excess ds stt see Instructions 202 Principal amount of new Ioer4s] 71 , 000. 00 502. Settlement cha es to setter Line 1400 6,344.98 203. Existing bargal taken subWat to 3- EU11fing loans taken subject to 204 504 P■ oM of first moftage ban 20S 2ND TRUST DEED 23 000.00 10 000.00 505- Payoff of second Mort a e loan 507- 206 .RD UST DEED 207 LENDER CREDIVEEES1,076.23 20e 508 Zoe 509 Adjustments for items unpaid by series Adjustments for items unpaid by Seiler 210 Gty/town tuxes to 510 City/town taxers to - 211. County taxes to 511 County taxes to 212- Assessments to - - - - -- - _ ` 51 �Assesaments to --- — 213 513- 14 511. �5 15. 16. CARRET DTT 1,215.QQL-516 -- 17 517. 218 518.- tg 519 20. TOTAL PAID BY/FOR BORROWER 520- TOTAL REDUCTION AMOUNT DUE SELLER S.98 300. CASH AT SETTLEMENT FROM/TO BORROWER tl00. CASH AT SETTLEMENT TO/FROM SELLER t Gross amount due from borrower {Line 120}115,457_49 I_ Gross amount due to seller (Line 420) 114,385--22 302 Lass amount paid by/for borrower (Line 220)116,23Q 2- Less reductions in mount due seller (Line 520) �9g hn CASH ( R01fi ( O) BORROWER 3. CASH ( TO) ( FF1QMj SELLER _24 - L. SMLEMENT CHARGES 700- TOTAL SALES/BROKER'S COMMISSION based on price S M = PAID FROM BORROWER'S FUNDS A T SETTLEMENT PAID FROM SELLER'S FUNDS A T SETTLEMENT - Dry,s,on of Comowss,on * line 700) as 1oAows. 701- S 4,560.00 to REDC 702 S 570.00 to COLDWELL BANKERS 703 Commission paid at setuement 5,130.00 _ 704 WO- ITEMS PAYABLE IN CONNECTION VATH LOAN 001. loan Origination Fee % $0_2 Loan Discount % 003. Appraisal Fee to sot Credit Report to $05 Tax givrvige Fee, p5ANWAL- DUE ON sOL - - - 609 $to. st t - 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901 Inlerest from 03 01 94 10 03 09 94 • S 13.8100 'day 110.4 902. Mortgage Insurance Premium for month& 10 903- Hazard insurance Premium for years to -- 904 Years to 905 1000- RESERVES DEPOSITED WITH LENDER 1001 Hazard Insurance manth - 1002 Mortgage Insurance MWthjk a A 10D3 City prop" taxes 1004. County property taxes 1005. Annual as mmonb 1000. 1007. months a am —0 1OOS_ MOnfhlk fill ON Moth - 1100- TITLE CHARGES 1101_ Settlement Or closing fee 10 1102- 1104- 1106. Document preparation to - 1100_ biota Mee b 1107- - 1100- Tlss insurance to ORANGE COAST TITLE COMPANY 300.00 782.08 pncludes above Items numbers - - t 109. Lender's coverage S 71, 000.00 1110 Owner's coverage = 114 000.00 1111. Sub Escrow Fee TITLE COMPANY COMPANY 62.50 62.50 1112. SPECIAL ENDOItS TITLE COMPANY COMPANY 75,00 _ 1113 SPECIAL MMUNGERE --C"ANY COMPANY 1200- GOVERNMENT RECORDING AND TRANSFER CHARGE 1201- Recording toes Deed S Mortgages S 43.00 : RNeese S 4 00 1202. Clty►County tax/stamps- Deeds Mortgage S 125, 40 I m- State text stamps: Deed S 1205 745_QQ 1300- ADDITIONAL SETTLEMENT CHARGES 1301_ 1302 Pest inspection to 1303 1304. - 1305 14M TOTAL SETTLEMENT CHARGES (enter on Unas 103. Section J and 50Z Section p 1 072. 27 6, 344.98 Escrow Number: 6672-L REQUEST FOR COUNCIVREDEVELOPMENT AGENCY ACTION 4 ED 94-06 Date: February 22, 1994 Submitted to: Honorable Mayor/Chairman and City Council/Agency Members Submitted by: Michael T. Uberuaga, City Administrator/Executive Director GG-`�'�w Prepared by: Barbara A. Kaiser, Deputy City Administrator/Economic Development Subject: DOWN PAYMENT ASSISTANCE PROGRAM --PARTICIPANT APPROVAL Consistent with Council Policy? [ ] Yes [ ] New Policy or Exception Statement of Issue, Recommendation, Analysis, Funding Source, STATEMENT OF ISSUE• APPROVED BY CITY COUNCIL 19941 ative Actions. At a ts: Huntington Beach City Charter, Section 613, requires that each complete contract with a borrower in the Community Development Block Grant and Redevelopment funded Down Payment Assistance Programs must be approved by the City Council/Agency. RECONEMENDED COUNCIL, ACTION: 1. Approve and incorporate each listing, which names specific participants, the amount of each loan and the specific property subject to trust deed, into a previously approved sample Down Payment Assistance Loan Agreement (hereinafter "Agreement"). 2. Authorize the Mayor to execute and the City Clerk to attest to each Agreement between the city and/or Agency each participant as approved herein. 3. Release funds for Down Payment Assistance Program participants. ANALYSIS• As part of the 1993-94 Community Development Block Grant Program the Citizen Advisory Board recommended and the Council approved $200,000 as a pilot program to provide Down Payment Assistance to moderate income households and since that time the details of the program have been approved by the City Council. RCA ED 94-06 February 22, 1994 Page two On November 1, 1993, the Redevelopment Agency approved $400,000 in Redevelopment Housing Set -Aside funds to assist up to fourteen low-income buyers in the Brisas del Mar Condominium project. The low-income borrowers herein are participants in this program and some may be participants in the CDBG program as well. Huntington Beach City Charter, Section 613, requires the City Council to approve each contract in writing, including the Down Payment Assistance Program contracts. To complete each Agreement, the listing of potential participants, the amount of money loaned and the property subject to trust deed must be approved and incorporated into the Agreement by the City Council (see attached listing). It is recommended by staff that each listing be incorporated in the Agreement and approved at this time. Additional borrowers will be recommended until the funds are expended. Staff has reviewed the application of Barbara Dieckmeyer and recommends approval based on the following changes to the program guidelines. 1. For sole proprietor businesses, a two year period (rather than one year) must be used to establish eligibility for low-income households. 2. Assets will be allowed for both personal savings/checking and business savings/checking. Business assets are allowed to exceed the $10,000 limit set for personal savings/checking. ALTERNATIVES: Do not approve the participants. FUNDING SOURCE: Community Development Block Grant-- $200,000 total appropriation. Redevelopment Agency Housing Set -aside- $400,000 total appropriation. MTU/BAK/SVK:jar 920j ASSISTANCE PROGRAM Name 94-6 Barbara Dieckmeyer Loan Amount $23,000 (Set -Aside) Location of Property Subject to Trust Deed 409 Utica #B-21 94-10 Tam Hoang $23,000 (Set -Aside) 409 Utica #D-37 6,142.50 (CDBG) r CITY OF HUNTINGTON BEACH Inter -Office Communication Economic Development Department DATE: May 23, 2000 TO: Gus Duran, Housing/Redevelopment Manager FROM: Joyce DeKreek, Housing/Redevelopment Speciali 9Q SUBJECT: Research on Loan Forgiveness, I" Time Home -Buyers Program 2nd $100,000 I have reviewed our records regarding funding of V" Time Home -Buyers Program to determine the names and amount of assistance which benefited the applicants from the 2nd $100,000 in CDBG funds approved by the City Council at their December 20, 1993, meeting. At that meeting eight applicants (Hoang, Heildesch, Quick, Lawson, Steenveld, Otto, Dieckmeyer and Chavez) were approved to participate in the I" Time Home -Buyers Program, totaling S59,100. However, two (2) applicants (Heildesch, Quick (Shauna) withdrew (or participated in another program) , thereby lowering the total amount of assistance to $53,150, 1 have no record on Steenveld or Chavez (either on microfilm or files) and after checking with City Clerk's office, I believe these loans may not have been funded. If that's true, the total amount of assistance is lowered to $31,900. Since that meeting Bastou ($5,000), Griffen ($5,300), Melvin (S10,000), Quick (Theresa) ($5,000) and Rivera H. ($5,000), were approved for CDBG I" Time Buyer Assistance in conjunction with the Redevelopment lst Time Buyer Assistance. Quick T. signed loan does but withdrew prior to recording the does. The CDBG amount of assistance is $25,300. Two applicants have paid back their loans: Hoang, CDBG loan paid on 12/21/1999 in the amount of $8,229.72 and Melvin, CDBG loan paid on 10-21-1997 in the amount of $11,655.36.. G:ljoycdlnlenmrno Reconvcy-doc These loans are accrued at a S% simple interest rate, due and payable upon sale, transfer, etc. Cc: Paul D'Alessandro, Deputy City Attorney Joyce de Kreek, Economic Development Steve Holz, Development Specialist Gloycelinwmrmo Rewnvey-doc CITY OF HUNTINGTON BEACH Inter -Office Communication Economic Development Department DATE: June 12, 2000 TO: Gus Duran, Housing/Redevelopment Manager FROM: Joyce DeKreek, Housing/Redevelopment Consultan SUBJECT: Research on Loan Forgiveness, I" Time Home -Buyers Program Redevelopment Set -Aside, $400,000 and Redevelopment Set -Aside, $750,000 I have reviewed our records regarding funding of I" Time Home -Buyers Program to determine the names and amount of assistance which benefited the applicants from the $400,000 in Redevelopment Set -Aside funds approved by the Redevelopment Agency (RDA) at their November 1, 1993, meeting and from the $750,000 in Redevelopment Set -Aside funds approved by the RDA for the Pacific Park Villas at their February 6, 1995 meeting. The Redevelopment Agency approved nine applicants from the $400,000 allocation in conjunction with the City's CDBG 1st Time Home -Buyers Program and one additional applicant for the RDA lit Time Home -Buyers Program only. The RDA portion of these loans are Bastou ($25,000), Dieckrneyer ($23,000), Griffen ($25,000), Hoang ($23,000), Lawson ($23,000), Melvin ($35,000), Otto ($23,000), Quick, S. ($16,717), Quick, T. ($25,000), Rivera H. ($.25,000). Quick, T. withdrew from the CDBG loan but maintains the RDA loan. These loans total $243,717. The Redevelopment Agency approved fifteen (15) applicants from the $750,000 allocation at Pacific Park Villas (PPV) to participate in the Redevelopment Agency I't Time Buyer Program. The names and amounts are (Carrillo ($35,000), Forchione ($35,000), Heckethorn ($35,000), Hosseinali ($35,000), Hocker ($35,000), Lawrence ($35,000), Murch ($35,000), Osterhoudt ($35,000), Peltier ($35,000), Rivera -Burgess ($35,000), Wallace ($35,000), Weinfeld ($35,000), Wong ($35,000), Krueck ($35,000), Margoles ($35,000). These loans total $525,000. Four loans (Melkerson/Uniack, Ojeda, RenefWhite, Stratton), previously approved by RDA were not funded. GJjoyceAntemwe= Reconvey"doc • MF One loan (Wallace) was assumed by another qualified buyer (Stay). Two applicants have paid their loans: Melvin, paid off his RDA loan 10/21/1997 in the amount of $40,794.31 and Hoang, paid off his RDA loan on 12/21/1999 in the amount of $47,208.80. A check in the amount of $4,116.57 was issued to Mr. Hoang for overpayment, reducing the loan repayment to $43,092.23. These loans accrue simple interest at 5%, due and payable upon sale to a non qualified buyer and has shared equity. Cc: Connie Brockway, City Clerk Paul D'Alessandro, Deputy City Attorney David Biggs, Director, Economic Development John Reekstin, Director of Administrative Services Dan Villella, Director of Finance Jake Rahn, Administrative Services Hank Reveles, Sr. Accountant Joyce de Kreek, Economic Development Steve Holtz, Development Specialist GJjoyceAntermcmo Reconvey-doc One loan (Wallace) was assumed by another qualified buyer (Stay). Two applicants have paid their loans: Melvin, paid off his RDA loan 10/21/1997 in the amount of $40,794.31 and Hoang, paid off his RDA loan on 12/21/1999 in the amount of $47,208.80. A check in the amount of $4,116.57 was issued to Mr. Hoang for overpayment, reducing the loan repayment to $43,092.23. These loans accrue simple interest at 5%, due and payable upon sale to a non qualified buyer and has shared equity. Cc: Connie Brockway, City Clerk Paul D'Alessandro, Deputy City Attorney David Biggs, Director, Economic Development John Reekstin, Director of Administrative Services Dan Villella, Director of Finance Jake Rahn, Administrative Services Hank Reveles, Sr. Accountant Joyce de Kreek, Economic Development Steve Holtz, Development Specialist GJjoyceAntermcmo Reconvey-doc 95-01 (2-1-95) RDA 12-19-94 95-02 (2-1-95) RDA 12-19-94 95-03 (2-1-95) RDA 12-19-94 95-04 (2-1-95) RDA 12-19-94 95-06 (4-12-95) RDA 4-3-95 96-01 (1-24-96) RDA 1-16-96 96-02 (3-7-96) RDA 3-4-96 96-03 ( RDA 4-1-96 96-04 (7-17-96) RDA 7-15-96 96-05 (8-7-96) RDA 8-5-96 96-06 (8-7-96) RDA 8-5-96 97-01 (1-29-97) RDA 1-21-97 97-02 (4-30-97) RDA PACIFIC PARK VILLAS ($750,000 — RDA) Carillo, Aran $ 35,000 7861 Happy Drive, #102 Lawrence, James and Jeanette S 35,000 18051 Joyful Lane, 416 Wong, Wesley Chi $ 35,000 7681 Happy Drive, 4202 Hocker, ChristopherNandereb, Gayle$ 35,000 7681 Happy Drive, #101 Rivera, Victor/Burgess, Debra $ 35,000 18061 Joyful Lane, # 104 Heckethome, Sean & Jacquelyn $ 35,000 7871 Happy Drive, # 102 Margolis, Peter S 35,000 18651 Joyful Lane, #104 Weinfeld, Julie Peltier, Edward Wallace, Barbara Jo Murch, Gregory Krueek, Deborah Osterhoudt, Robert and Kathy $ 35,000 18061 Joyful Lane, #205 $ 35,000 7871 Happy Drive, #201 $ 35,000 18051 Joyful Lane, #205 $ 35,000 18051 Joyful Lane, #102 $ 35,000 18061 Joyful Lane, #101 $ 35,000 18061 Joyful Lane, #102 G-ljoyce/lnternemo Rewnvty-doc 97-03 (5-14-97) Hosseinali, Faroukh $ 35,000 18061 Joyful Lane, #201 RDA 97-04 (7-23-97) Forchine, Richard $ 35,000 18051 Joyful Lane, #201 RDA 7-21-97 151 TIME BUYER ASSISTANCE ($400,000 RDA) 94-4 (2-11-94) Lawson, Sally $ 23,000 409 Utica Avenue #A-1 (RDA 1-18-94) 94-5 (2-11-94) Quick, Shauna $ 16,717 409 Utica Avenue 9C-32 (RDA 1-18-94) 94-6 (2-11-94) Dieckmeyer, Barbara $ 23,000 409 Utica Avenue #B-21 (RDA 2-22-94) 94-8 (2-11-94) Otto, T./Shorb R. $ 23,000 409 Utica Avenue #A-7 (RDA 1-18-94) 94-10 (2-11-94) Hoang, Tam $ 23,000 409 Utica Avenue #D-37 (RDA 2-22-94) 94-11 (5-18-94) Bastou, Valerie $ 25,000 409 Utica Avenue #D-43 (RDA 5-18-94 94-12 (5-18-94) Quick La Reine, Teresa $ 25,000 409 Utica Avenue #A-9 (RDA 5-18-94) 94-13 (6-23-94) Melvin, Patrick $ 35,000 409 Utica Avenue #D-39 (RDA 6-20-94) 94-14 (7-27-94) Rivera, Hector & Iciar $ 25,000 409 Utica Avenue #A5 (RDA 7-18-94) 94-17 (10-4-94) Griffen, Olga Christina $ 25,000 409 Utica Avenue #C-23 (RDA 9-19-94) $ 243,717 G:loyceAnte m mo Reconvey.doc