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HomeMy WebLinkAboutContracts & Agreements_10-10 RDA Electronically Recorded in Official Records,County of San Bernardino 12/1012010 08;00 AM LARRY WALKER NC AudltorlGontroller-Recorder RECORDING REQUESTED BY 891 Nation's Title of CA/Colton Nations Title Company of California _ WHEN RECORDED MAIL.TO Doc#: 2616-6523685 Titles: 2 Pages: 5 Name Redevelopment Agency of the City Fees .00 Street Address Redlands Taxes .00 05 EI Cafon Street II I I1II II I{� Other .00 PAID .00 c,ty,slot, Redlands, CA. 92373 Zip Attn: Executive Director Order No. 01336762- (SPACE ABOVE THIS LINE FOR RECORDER'S USE) DEED OF TRUST AND ASSIGNMENT OF RENTS DOCUMENT TITLE SEPARATE PAGE-PURSUANT TO GOVERNMENT CODE 27361.6 ritkepag s NATIONS TITh COMPANY DEED OF TRUST o �3 (77 lo L. RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Redevelopment Agency of the City of Redlands 35 Cajon Street Redlands, California 92373 Attention: Executive Director Assessor's Parcel No.0171-121-04-0000 This document is exempt from the payment of a recording fee pursuant to Govcmment Code Section 6103 and 27383. DEED OF TRUST AND ASSIGNMENT OF RENTS This DEED OF TRUST WITH ASSIGNMENT OF RENTS (this "Deed of Trust"), is made as of November 16, 2010, by and among Shabahang-Hatami Family Trust (12122105), (the "Trustor"), whose address is 5 E. Citrus Avenue, Redlands, California 92373;Ticor Title Company(the "Trustee"), whose address is 4204 Riverwalk Parkway, Suite 230, Riverside, California 92505; and the REDEVELOPMENT AGENCY OF THE CITY OF REDLANDS, a public body, corporate and politic (the`Beneficiary"),whose address is 35 Cajon Street,Redlands, California 92373. WITNESSETH: that Trustor grants to Trustee in Trust, with Power of Sale, that property in the City of Redlands, County of San Bernardino, State of California, that is described in Attachment No. 1, attached hereto and by this reference incorporated herein(the"Security Property"); FTogether with the rents, issues and profits 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. I For the purpose of securing (1)Payment of indebtedness in the principal amount of One Hundred Fifty Thousand Dollars ($150,000.00) together with interest thereon according to and as set forth in the certain Note from Shabahang-Hatami Family Trust (12122105) (the "Participant") to the Beneficiary of even date herewith (which repayment may be made by credit pursuant to the terms of such promissory note); (2) Payment of any suras advanced by Beneficiary to protect the Security pursuant to the terms and provisions of this Deed of Trust following a breach of Trustor's obligation to advance said sums and the expiration of any applicable cure period and upon fifteen(IS)business days notice to the Trustor, with interest thereon as provided herein; (3)Payment of such additional sums and interest thereon which may hereafter be loaned to Trustor or, with the prior consent of Trustor, to the Participant, or its successors or assigns, by Beneficiary, when evidenced by a promissory note or notes or other documents reciting that they are secured by this Deed of Trust; and (4)Performance of every obligation, covenant or agreement of Trustor contained herein, in the Note (and any amendments thereto) in that certain Participation Agreement between the Participant and the Beneficiary dated as of November 16, 2010, a copy of which is on file with the Agency as a public record (the "Participation Agreement") and any amendments thereto, and in the "Maintenance Agreement" (Exhibit E to the Participation Agreement), and any amendments thereto. D-1 DOCSOCI1380740v6/200079-0000 r To protect the�security of this Deed of Trust, and with respect to the property above described, Trustor expressly makes each and all of the agreements, and adopts and agrees to perform and be bound by each and all of the terms and provisions set forth in subdivision A, and it is mutually agreed that each and all of the terms and provisions set forth in subdivision B of the fictitious deed of trust recorded in San Bernardino County,August 18, 1964, in Book 6213, Page 768 of the Official Records of the County Recorder of the County of San Bernardino shall inure to and bind the parties hereto, with respect to the property above described. Said agreements, terms and provisions contained in said subdivision A and B, (identical in all counties), are by the within reference thereto, incorporated herein and made a part of this Deed of Trust for all purposes as fully as if set forth at length herein, and Beneficiary may charge for a statement regarding the obligation secured hereby, provided the charge therefor does not exceed the maximum allowed by law. This Deed of Trust further includes Attachment No. 1 hereto, which is attached hereto and incorporated herein by reference. IN WITNESS WHEREOF, Trustor has executed this Deed of Trust as of the day and year first above written. TRUSTOR: SHABAHANGHATAMI FAMILY TRUST (12122105) By: Shahrokh Shabahang Its: Authorized Trustee D-2 DOCSOC/13 807400/200079-0000 CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT State of Californ' County of V, i b I! t On _ before me, l� Data re ser and ills off Ofllce personally appeared Na E( SIP ) who proved to me on the basis of satisfactory evidence to be the personfs)whose named is/are-subscribed to the within instrument and acknowledged to me that he/,RWthWexecuted the same in his/hPr/th&authorized capacity(iK, and that by his/l;l JMli&-signature(W& the instrument the person(<or the entity upon behalf of which the person(s�acted, executed the instrument. 4.1t.MCCAKAN?iD CO I certify under PENALTY OF PERJURY under the laws Notary Ruble Cam of the State of California that the foregoing paragraph is San tftesnar�tno C(ft�tNy Cvmrn feb1,ZOT2 true and correct. WITNESS m hand and offi ' i se I. ' Signature Place Notary Seal Above Sig of o ary u k OPTIONAL - Though the information below is not required by law,it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached DocumMnnt Title or Type of Document:- �j a Document Dale: I (—l U, ilQ I v Number of Pages: Signer(s) Other Than Named Above: e Capacity(ies)Claimed by Signer{s) Signer's Name: Signer's Name: ❑ Individual ©Individual ❑ Corporate Officer—Title(s): ©Corporate Officer—Title(s): © Partner—© Limited ©General _ I ©P artner—�❑Limited ©General © Attorney in Fact ©Attorney in Fact Top of thumb here TrusteeTop of thumb El Trustee C� EDGuardian or Conservator [IGuardian or Conservator © Other: ©other: Signer Is Representing: Signer Is Representing, 02007NaGonMNotary Association•9350DeSoto Ave.,P.o.sox 24o2•Chatsworth,CA91313-2402-wwwNaliOnEdRolaryorg Ilomx5907 Reardon Call Toll-Free 1.8W-876-6827 ATTACHMENT NO. 1 TO EXHIBIT "D" LEGAL DESCRIPTION LOT 5,EXCEPTING THE EAST FOUR INCHES AND ALL OF LOTS 6 AND 7,IN BLOCK 9,TOWN MAP OF REDLANDS,IN THE CITY OF REDLANDS,COUNTY OF SAN BERNARDINO,STATE OF CALIFORNIA,AS PER MAP RECORDED IN BOOK 5 OF MAPS:PAGE 10,N THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. k D-3 DOCSOCI1380740v6/200079-0000