04-0604_VASQUEZ , HECTOR AND MARIA_Loand Agreement2E60RDING REQUESTED Bye
EQUITY TITLE 00MI1 #Y
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COMPLLMENTARY RECORDING REQUESTED
PURSUANT TO GOVERNMENT CODE
SECTION 27383
Recording Requested By And
When Recorded Mail To:
Meg Monahan, City Clerk
City of San Juan Capistrano
32400 Paseo Adelanto
San Juan Capistrano, CA 92675
Reference: State 2001 HOME FTHB Program
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Recorded in Official Records, Orange County
Tom Daly, Clerk -Recorder
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LOAN AGREEMENT
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Owners: Hector Vasquez Ruiz and Maria Loreto Mancilla Ruiz
rO Property Address: 26488 La Zania Street, San Juan Capistrano, CA 92675
This Loan Agreement (the "Agreement") is entered into as of June 4.2004 , by and between
the City of San Juan Capistrano, a municipal corporation (the "City') and Hector Vasguez Ruiz and
Maria Loreto Mancilla Ruiz (the "Owner").
RECITALS
A. The City has established a first-time homebuyers program utilizing HOME Funds to
assist with the purchase of residences for low income families (the "Program"); and,
B. Pursuant to the Program, the City is, concurrently with the recordation of this
Agreement, is making a deferred loan in the sum of $129.528.00 to the Owner ("City Loan") in order to
assist the Owner to purchase the property located at 26488 La Zania Street, San Juan Capistrano
California, described in Exhibit A to this Agreement (the "Property') attached hereto and incorporated
herein; and,
C. The City Loan is evidenced by a promissory note (the "Note"), and shall be secured by a
deed of trust recorded against the Property (the "Deed of Trust"); and,
D. The City Loan is subordinate to an amortized loan in the original principal amount of
$108.100.00 (the "First Lender's Loan") from Washington Mutual Bank, FA (the "First Lender"), or to
the successor or assigns of such First Lender; and,
E. The First Lender's Loan is secured by a deed of trust in a first lien position (the "First
Lender's Deed of Trust").
F. The purpose of this Agreement is to establish covenants regarding eligibility of the
Owner and measures to maintain the Property and the City's funding sources for meeting the Program
objectives.
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NOW, THEREFORE, in consideration of the benefits received by the Owner and the City, the
Owner, the City agree, as follows:
DESCRIPTION OF PROPERTY
This Agreement concerns the Property located at the address described in the title
above, as more fully described in Exhibit A attached hereto and incorporated herein.
2. OWNER CERTIFICATIONS
The Owner certifies that (a) the financial and other information previously provided in
order to qualify to purchase the Property is true and correct as of the date first written above, (b) the
Owner is a First Time Homebuyer and (c) the Owner shall occupy the Property as the Owners principal
place of residence. The Owner shall be considered to be occupying the Property if the Owner is living
in the unit for at least ten (10) months out of each calendar year. The City may grant a temporary
waiver of this occupancy requirement for good cause in its sole discretion.
LEASING OF PROPERTY
The Owner shall not lease the Property for more than two (2) months without the written
consent of the City during any twelve (12) month period and shall not lease the Property without
providing the City with a copy of the lease. Any lease of the Property in violation of this Agreement is
prohibited.
SALE RESTRICTIONS
Any transfer of the Property will be subject to the provisions of this Agreement.
"Transfer" means any sale, assignment or transfer, voluntary or involuntary, of any interest in the
Property, including, but not limited to, a fee simple interest, a joint tenancy interest, a life estate, a
leasehold interest of more than two (2) months in any twelve (12) month period without the Citys
consent pursuant to Section 3 above, or an interest evidenced by a land contract or further
encumbrance by which possession of the Property is transferred and Owner retains title.
Any Transfer without satisfaction of the provisions of this Agreement is prohibited.
Transfers by gift, devise, or inheritance to an existing spouse, surviving joint tenant, ora spouse as part
of a dissolution proceeding, or in connection with marriage shall not be considered a transfer for the
purposes of this Agreement; provided, however, the provisions of this Agreement shall remain in effect.
NOTICE OF INTENDED TRANSFER
In the event the Owner intends to Transfer or vacate the Property, the Owner shall
promptly notify the City in writing of such intent. The written notice shall be given in accordance with
Section 18 of this Agreement at least ninety (90) days prior to the actual date of the Transfer or
vacation of the Property. The notice from the Owner shall be sent by certified mail, return receipt
requested. Following receipt of such notice, the City may notify prospective first time homebuyers that
the Property is available for purchase, or the City may purchase the Property.
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CITY FIRST RIGHT OF REFUSAL
The Owner agrees that the City shall have a first right of refusal to purchase the
Property in the event of a transfer in accordance with Section 4 for an amount equal to the Fair Market
Value as calculated in the manner set forth in Section 7 of this Agreement ("First Right"). If the City
decides to exercise its First Right, it shall within thirty (30) days after receipt of the notice specified in
Section 5 above, notify the Owner in accordance with Section 18 of this Agreement that it chooses to
exercise the First Right.
If the City exercises the First Right, it shall purchase the Property within ninety (90) days
of the date it receives the notice specified in Section 5 above for an amount equal to the Fair Market
Value as calculated in the manner set forth in Section 7 of this Agreement. The City may, instead of
purchasing the Property itself, assign its right to purchase the Property to a person who meets the
criteria established by the City, or to another governmental Agency or nonprofit organization which is
devoted to developing or operating low income housing ("Proposed Purchaser'). The City shall retain
the First Right for a maximum period of four years from the date of this Agreement.
FAIR MARKET VALUE
If it is necessary to determine the Fair Market Value of the Property, it shall be
determined by an appraisal prepared by an independent residential appraiser selected by the Owner
from a list of appraisers provided by the City. Each appraiser on the City's list shall have been
previously approved by the FannieMae or the Federal Housing Administration and placed on their list of
approved single family housing appraisers.
If possible, the appraisal shall be based upon the sales prices of comparable properties
sold in the market area during the preceding three-month period. The cost of the appraisal shall be
shared equally by the City and the Owner.
8. REPAYMENT OF CITY NOTE UPON TRANSFER BY OWNER
If the City either exercises its First Right, or the Owner transfers the Property, the Owner shall
pay all principal and interest due under the Note.
9. DEFAULTS AND REMEDIES
A breach or default of any of the provisions of this Agreement or of any provision of a
document related to the First Lender's Loan by the Owner, or any other loan or grant obtained by the
Owner in connection with the Property shall be a default under this Agreement and the City may give
written notice to the Owner specifying the nature of the violation.
If the violation is not corrected to the satisfaction of the City within a reasonable period
of time, not longer than thirty (30) days after the date the notice is mailed, or within such further time as
the City determines is necessary to correct the violation, the City may declare a default under this
Agreement. A transfer in violation of this Agreement or a monetary default shall be cured immediately
upon written notice to Owner by the City.
The City shall notify the First Lender in accordance with Section 18 of this Agreement if
the City has declared a default under this Agreement or upon a default under any City promissory note,
deed of trust or other lien, including a judgment lien recorded against the Residence. The notice to the
First Lender may indicate that the City will exercise its First Right to purchase the Property pursuant to
Section 10 of this Agreement.
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Upon the declaration of a default, or if the Owner or the Proposed Purchaser makes any
misrepresentation in connection with receiving any benefits under this Agreement, the City may apply
to a court of competent jurisdiction for specific performance of this Agreement, for an injunction
prohibiting a proposed Transfer in violation of this Agreement, for a declaration that a Transfer in
violation of this Agreement is void, or for any such other relief at law or in equity as may be appropriate.
10. PURCHASE OPTION UPON DEFAULT
Notwithstanding, and in addition to, the remedies provided City in Section 9, the Owner
hereby grants to the City, the option to purchase the Property ("Option') effective thirty (30) days after
the City has given the Owner and the First Lender notice of the declaration of a default. Said Option is
given in consideration of the economic benefits received by the Owner resulting from ownership of the
Property made possible by the financial assistance of the City.
The Option may be exercised upon a default under this Agreement or upon a default
under any promissory note, deed of trust or any other lien, including a judgment lien, connected to the
Property. The City shall have thirty (30) days after a default is declared to notify the Owner and the
First Lender of its decision to exercise its option to purchase. Not later than ninety (90) days after the
notice is given in accordance with Section 18 below to exercise its option, the City shall purchase the
Property an amount equal to the Fair Market Value as determined in Section 7.
11. NONLIABILITY OF THE CITY
In no event shall the City become in any way liable or obligated to the Owner or any
successor -in -interest to the Owner by reason of its option to purchase under Sections 6 and 10 nor
shall the City be in any way obligated or liable to the Owner or any successor -in -interest to the Owner
for any failure to exercise its Option.
12. BINDING ON SUCCESSOR AND ASSIGNS
This Agreement shall bind, and the benefit shall inure to, the Owner, his or her heirs,
legal representatives, executors, successors in interest and assigns, and to the City and its successors,
until the principal and accrued interest due under the Note has been repaid.
13. SUPERIORITY OF AGREEMENT
The Owner covenants that he or she has not, and will not, execute any other agreement
with provisions contradictory to or in opposition to the provisions of this Agreement, and that, in any
event, this Agreement is controlling as to the rights and obligations between and among the Owner, the
City and their respective successors.
14. RIGHTS OF BENEFICIARIES UNDER DEEDS OF TRUSTS
This Agreement shall not diminish or affect the rights of the City under the Note and the
Deed of Trust executed by the Owner in favor of the City in connection with the purchase by the Owner
of the Property.
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Notwithstanding any other provision hereof, the provisions of this Agreement shall be
subordinate to the lien of the First Lender's Deed of Trust and shall not impair the rights of the First
Lender, or such lender's assignee or successor in interest, to exercise its remedies under the First
Lender's Deed of Trust in the event of default under the First Lender's Deed of Trust by the Owner.
Such remedies under the First Lenders Deed of Trust include the right of foreclosure oracceptance of
a deed or assignment in lieu of foreclosure.
After such foreclosure or acceptance of a deed in lieu of foreclosure, this Agreement
shall be forever terminated and shall have no further effect as to the Property or any transferee
thereafter; provided, however, if the holder of such First Lenders Deed of Trust acquired title to the
Property pursuant to a deed or assignment in lieu of foreclosure, this Agreement shall automatically
terminate upon such acquisition of title, provided that the City has been given written notice of default
under such First Lenders Deed of Trust as provided by law.
This agreement shall not diminish or affect the rights of HUD, FNMA, or the Veterans
Administration ("VA") or CHFA, as and if applicable, under the First Lenders Deed of Trust.
Notwithstanding any provision in this Agreement to the contrary, all of the provisions of this Agreement
shall terminate and have no further force and effect upon the occurrence of one of the following events:
(i) Title is acquired by HUD, VA, FannieMae, CHFA or another party upon foreclosure of a deed of
trust insured by HUD or guaranteed by VA; or (ii) Title is acquired by HUD, VA, FannieMae, CHFA, or
another party by a deed in lieu of foreclosure of a deed of trust insured by HUD or guaranteed by VA.
Owner agrees that the City may record a Request for Special Notice as provided in Civil
Code Section 2924 e.
15. INVALID PROVISIONS
If any one or more of the provisions contained in this Agreement shall for any reason be
held to be invalid, illegal or unenforceable in any respect, then such provision or provisions shall be
deemed severed from the remaining provisions contained in this Agreement, and this Agreement shall
be construed as if such invalid, illegal or unenforceable provision had never been contained herein.
16. CONTROLLING LAW
The terms of this Agreement shall be interpreted under the laws of the State of
California.
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17. NOTICES
All notices required herein shall be sent by certified mail, return receipt requested or
express delivery service with a delivery receipt and shall be deemed to be effective as of the date
received or the date delivery was refused as indicated on the return receipt as follows:
To the Owner:JUI.0JJ-actor Vasquez Ruiz and Maria Loreto Mancilla Ruiz
26488 La Zanja Street
San Juan Capistrano, CA 92675
To the City: City of San Juan Capistrano
32400 Paseo Adelanto
San Juan Capistrano, CA 92675
Attn: Planning Director
To the First Lender: Washington Mutual Bank, FA
27040 Alicia Parkway
Laguna Niguel, CA 92677
The parties may subsequently change addresses by providing written notice of the
change in address to the other parties in accordance with this Section 18.
18. HUD FORBEARANCE RELIEF
Notwithstanding any other provision of this Agreement, the City Option shall not be
exercised by the City when a deed of trust insured by HUD is secured by the Property, and (i) the
Owner is undergoing consideration by HUD for assignment forbearance relief, or (ii) the Owner is
undergoing consideration for relief under HUD's Temporary Mortgage Assistance Payment (TMAP)
program.
19. EXHIBITS
Any exhibits referred to in this Agreement are incorporated in this Agreement by such
reference.
20. ADDENDUM
The attached HOME Program Addendum and Attachment 1 to the HOME Program Addendum are
hereby incorporated and made a part of this agreement.
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IN WITNESS WHEREOF, the parties have executed this Agreement on or as of the date first
written above.
CITY OF SAN JUAN CAPISTRANO/
SAN JUAN CAPISTRANO COMMUNITY
REDEVELOPMENT AGENCY:
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Molly Elooh v
Margaret lain Bogh (� Q n
Title: Planning Director A• A Y
(Type Name and Title)
Date
OWNER:
&ddr V4r4aezNt'2 ?; ag
Hector Vasquez Ruiz Date
Aria Itr J�vet An
Maria Loreto Mancilla Ruiz ate
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Date
Date
CALIFORNIA
State of
California
ACKNOWLEDGMENT
County of
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OPTIONAL
Though the lnfamation below Is not required by law, It may prove valuable to persons retying on the document and could prevent
fraudulent removal and reattachment of this harm to another document.
Description of Attached
Title or Type of Document:
Document Date. Number of Pages:
Signer(s) Other Th amed Above:
Capacity(les) Claimed by Signer(s)
Signer's Name:
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Individual
Corporate Officer
Titie(s):
Partner — ❑ Limited ❑ General
Attorney -in -Fact
Trustee
Guardian or Conservator
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Individual
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Ttle(s):
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Attomey-in-Fact
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Guardian or Conservator
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Signer Is Representing:
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10. Where the Owner or where a prospective lower tier participant is unable to certify to any of the statements
in this certification, the Owner shall attach an explanation to this proposal.
STATE OF CALIFORNIA )
) ss.
COUNTY OF ORANGE )
On L'- 25 . 2004 before me, I janrne=n L , Lir- . Notary Public,
personally appeared Molly Boah, personally known to me
to be the person whose name is subscribed to the within instrument and
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acknowledged to me thatshe executed the same in his authorized capacity, and that by hissignature on
the instrument the person or the entity upon behalf of which the person acted, executed the instrument.
WITNESS my hand and official seal.
Sig ature
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(This area for official notarial seal)
DANNY L. AYE
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COMM. #1483461 >
Notary California y
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ORANGE Exo COUNTY
Cantu. Expires April 28, 2008
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STATE OF CALIFORNIA )
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COUNTY OF ORANGE )
On 7 2004 before me, •Mdegjej Notary Public,
personally appeared 'k AMAZIryBn1 fIeoQui&4mona�ne%o ��G�bperso knovto
me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed
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to the within instrument and acknowledged to me thatioW executed the same in t}ef authorized
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capacity, and that by bw signature on the instrument the person or the entity upon behalf of which the
person acted, executed the instrument.
WITNESS my hand and official seal
D. MOSELEY
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(This area for official notarial seal)
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EXHIBIT "A"
A CONDOMINIUM COMPOSED OF:
PARCEL 1:
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ORDER NO.: OR0411090
UNIT NO. 96, OF LOT(S) 11, OF TRACT NO. 7194, IN THE CITY OF SAN JUAN CAPISTRANO, IN
THE COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP (WHICH MAP IS
BOTH A SUBDIVISION MAP AND A CONDOMINIUM PLAN), RECORDED IN BOOK 310, PAGES 26
TO 41 INCLUSIVE OF MISCELLANEOUS MAPS, AND AMENDMENT THERETO RECORDED
SEPTEMBER 14, 1975 IN BOOK 10900, PAGE 369 OF OFFICIAL RECORDS, RECORDS OF
ORANGE COUNTY, CALIFORNIA AND AS DEFINED IN THAT CERTAIN DECLARATION OF
RESTRICTIONS (ENABLING DECLARATION ESTABLISHING A PLAN FOR CONDOMINIUM
OWNERSHIP OF CAPISTRANO VILLAS NO. 3), RECORDED IN BOOK 10709, PAGE 512 OF
OFFICIAL RECORDS OF SAID COUNTY; AND THAT CERTAIN DECLARATION OF ANNEXATION
RECORDED JULY 25, 1973, IN BOOK 10817, PAGE 795, OF OFFICIAL RECORDS OF SAID
COUNTY, AND AN AMENDMENT THERETO, RECORDED JUNE 28, 1974 IN BOOK 11184, PAGE
1128 OF OFFICIAL RECORDS.
PARCEL 2:
AN UNDIVIDED 1156TH INTEREST IN THE COMMON AREA OF SAID TRACT NO. 7194, IN THE CITY
OF SAN JUAN CAPISTRANO, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN AND
DEFINED IN SAID ABOVE MENTIONED CONDOMINIUM PLAN AND DECLARATION OF
RESTRICTIONS, BEING ALL OF LOTS 10 TO 15 INCLUSIVE AND THE IMPROVEMENTS
THEREON, EXCEPT THE UNITS.
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ADDENDUM TO LOAN AGREEMENT
(HOME PROGRAM REQUIREMENTS)
1. This Addendum to Loan Agreement (this "Addendum") is entered into as of June 4.2004 by and
between the City of San Juan Capistrano, a municipal corporation (the "City"), and Hector Vasquez
Ruiz and Maria Loreto Mancilla Ruiz ("Owner"), and is an addendum to that certain Loan Agreement
(the "Loan Agreement") by and between the City and the Owner dated on or about the same date
herewith.
2. The purpose of this Addendum is to set forth federal requirements of the HOME Program with
which the Owner must comply. The City Loan funds are govemed by and subject to the HOME
Investment Partnerships Act at title II of the Cranston -Gonzales National Affordable Housing Act, as
amended (42 U.S.C. 12701, et seq.) (the "Act",) which is incorporated herein by reference, as
implemented by 24 Code of Federal Regulations ("CFR") Part 92 (the "HOME Regulations"), which is
incorporated herein by reference. Owner agrees to comply with all requirements set forth therein.
Owner acknowledges that this Addendum may not contain a full statement of the requirements of the
HOME Regulations and the Act. In the event of any inconsistency between the HOME Regulations and
the Act and this Addendum, the HOME Regulations or the Act, as applicable, shall govern. All
capitalized terms used herein that are not otherwise defined herein shall have the meanings set forth in
the Loan Agreement, or if not defined in the Loan Agreement, then the meanings set forth in the HOME
Regulations.
3. Use of HOME Funds (§92 CFR 504 ( c )(5)). The principal amount of the City Loan is
$129.528.00, all of which are subject to the HOME Regulations and the Act. The proceeds of the Loan
shall be used by Owner solely for the purchase of the Property located at 26488 La Zania Street, San
Juan Capistrano, CA 92675.
4. In accordance with 24 CFR §92.254(a)(5), the City shall have the right to recapture all City Loan
funds as follows: upon any Transfer of the Property, all outstanding balances of principal and interest
under the Note shall immediately become due and payable in full, and Owner shall pay same to the
City without demand.
5. Owner shall comply with all applicable federal requirements set forth in the HOME Regulations
and the Act, including the following:
a. Nondiscrimination, Equal Opportunity and Fair Housing (24 CFR 92.350).
During the performance of the Loan Agreement, Owner assures that no otherwise qualified person
shall be excluded from participation or employment, denied program benefits, or be subjected to
discrimination based on race, color, national origin, sex, age, handicap, religion, or religious
preference, under any program or activity funded by the City Loan, as required by the Title VI of the
Civil Rights Act of 1964; the Fair Housing Act (42 U.S.C. 3601-20); the Age Discrimination Act of 1975;
Executive Order 11063, as amended; Section 504 of the Rehabilitation Act of 1973; Section 282 of the
HOME Investment Partnerships Act, and all implementing regulations thereof.
In
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b. Debarment and Suspension (24 CFR 92.350). Concurrently with the execution of the Loan
Agreement, Owner has completed and delivered to the City the Certificate of Regarding Debarment,
Suspension, Ineligibility, and Voluntary Exclusion—Lower Tier Covered Transactions, attached hereto
as Attachment 1, as required by 24 CFR 92.350.
c. Property Standards. The Owner shall ensure that the Property meets the property standards
(the "Property Standards") specified in 24 CFR 92.251.
d. Lead Based Paint Requirements. The Owner shall comply with all requirements (the "Lead
Based Paint Requirements") of the Lead Based Paint Poisoning Prevention Act (42 U.S.C. 4821, at
seq.) and all implementing regulations (24 CFR Part 35).
e. Owner shall cooperate with the City, the State or HUD in connection with any audits under
the HOME Regulations or other applicable federal regulation.
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ATTACHMENT 1 TO ADDENDUM
CERTIFICATION REGARDING DEBARMENT,
SUSPENSION, INELIGIBILITY AND VOLUNTARY
EXCLUSION — LOWER TIER COVERED TRANSACTIONS
I This Certification Regarding Debarment, Suspension, Ineligibility and Voluntary Exclusion — Lower Tier
Covered Transactions (this "Certification") is made on June 4. 2004 by Hector Vasquez Ruiz and Maria
a�V,Q.9, Loreto Mancilla Ruiz, "Owner".
1. The Certification contains material representations of fact upon which the City is relying and which are an
inducement for the city to enter into the transaction evidenced by the document to which it is attached. If it is later
determined that the Owner knowingly rendered an erroneous certification, in addition to other remedies available
to the Federal Government, the department or agency with which this transaction originated may pursue available
remedies, including suspension and/or debarment.
2. The Owner shall provide immediate written notice to the City if at any time the Owner learns that its
certification was erroneous when submitted or has become erroneous by reason of changed circumstances.
3. The terms covered transaction, debarred, suspended, ineligible, lower tier covered transaction, participant,
person, primary covered transaction, principal, proposal, and voluntarily excluded, as used in this clause, have
the meanings set forth in the Definitions and Coverage sections of rules implementing Executive Order 12549.
4. The Owner shall not knowingly enter into any lower tier covered transaction with a person who is debarred,
suspended, declared ineligible, or voluntarily excluded from participation in this covered transaction, unless
authorized by the department or agency with which this transaction originated.
5. The Owner further agrees that it will include the provisions of this Certification without modification, in all
documentation for lower tier covered transactions and in all solicitations for lower tier covered transactions and
require certification thereto and compliance therewith.
6. The Owner in a covered transaction may rely upon a certification of a prospective participant in a lower tier
covered transaction that it is not debarred, suspended, ineligible, or erroneous. The Owner may decide the
method and frequency by which it determines the eligibility of its principals. The Owner may, but is not required
to, check the Nonprocurement List.
7. Nothing contained in the foregoing shall be construed to require establishment of a system of records in order
to render in good faith the certification required by this clause. The knowledge and information of the Owner is
not required to exceed that which is normally possessed by a prudent person in the ordinary course of business
dealings.
6. Except for transactions authorized under paragraph 4 of this Certification, if a participant in a covered
transaction knowingly enters into a lower tier covered transaction with a person who is suspended, debarred,
ineligible, or voluntarily excluded from participation in this transaction, in addition to other remedies available to
the Federal Government, the department or agency with which this transaction originated may pursue available
remedies, including suspension and/or debarment.
9. The Owner or prospective lower tier participant hereby certifies, that neither it nor its principals is presently
debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in
this transaction by any Federal department or agency.
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32400 PASEO ADELANTO
SAN JUAN CAPISTRANO, CA 92675
(949) 493-1171
(949) 493-1053 FAx
www.sanjuaw aplstrano.org
September 15, 2004
Clerk -Recorder's Office
County of Orange
P.O. Box 238
Santa Ana, California 92701
Re: Loan Agreement: 26488 La Zania St
SENT VIA CERTIFIED MAIL
The noted document is enclosed for recording:
MEMBERS OF THE CITY COUNCIL
When placed of record, please return the recorded document to this office.
Thank you for your assistance.
Very truly yours 4
Aardret R. Monahan
Lynnette Adolphson, Management Analyst II
San Juan Capistrano: Preserving the Past to Enhance the Future
SAM ALLEVATO
DIANE L BATHGATE
WYATT HART
JOE SOTO
DAVID M. SVVERDUN