1995-1221_SJC HOUSING INVESTORS, L.P._Deed of Trust with Assignment of Rents •R91CORDING REQUESTED BY
•1¢. r
WHEN RECORDED MAiL TO: Recorded in the County of Orange, California
San Juan Capistrano
• jif Gary L. Granville, Re
( Clerk/ corder
F '
Redevelopment Agency Ifll��l��lfll[fflllffl��f���f{II 35,00
Iii,III`�I
32400 Paseo Adelanto 19950568794 11; 16am 12/21/95
San Juan Capistrano, CA 92675 006 9002639 09 30
• -- ����•,*i-.,o ni,-Prtor D11 A36 8 0 14.00 0.00 21 .00 0.00 0.00 0.00
0.00 0.00 0,00
SUBORDINATEDDEED OF TRUST WITH ASSIGNMENT OF RENTS
(LONG FORM)
A.P.N.
This DEED OF TRUST,made November 30, 1995 between
San Juan Capistrano Housing Investors, L.P. , herein called TRUSTOR. —�
a California limited partnership
whose address is 4 Venture, Suite 275 Irvine CA 92718
(Number and Street) (City) (State)
�F
COMMONWEALTH LAND TiTLE COMPANY,a California corporation,herein called TRUSTF.F,and
San Juan Capistrano Redevelopment Agency hereincalled BENEFICIARY.
WITNESSETH:That Trustor grants to Trustee in Trost,with Power of Sale,that property in the City of San Juan Capistrano
County of Orange g ,State of California,described as:
Q [See Exhibit A attached hereto and made a part hereof]
Together 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. 1 550 000
For the Purpose of Securing 0)payment ol'the sum of$ i with interest thereon according to the terms of a promissory note or notes of even date
herewith made by Trustor,payable to order of Beneficiary,and extensions or renewals thereof,and(2)the performance of each agreement of Trustor incorporated
by reference or contained herein(3)Payment of additional sums and interest thereon which may hereafter be loaned to Trustor,or his successors or assigns,when
evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust.
A. To protect the security of this Deed of Trust.Trustor agrees:
(1) To keep said property in good condition and repair;not to remove or demolish any building thereon;to complete or restore promptly and in good and
workmanlike manner any building which may be constructed,damaged or destroyed thereon and to pay when due all claims for labor performed and materials
furnished therefor;to comply with all laws affecting said property or requiring any alterations or improvements to be made thereon;not to commit or permit waste
thereof:not to commit,suffer or permit any act upon said property in violation of law;to cultivate,irrigate,fertilize,fumigate,prune and do all other acts which from
the character or use of said property may be reasonably necessary,the specific enumerations herein not excluding the general,
(2) To provide,maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary.The amount collected under any fire
or other insurance policy may be applied by Beneficiary upon any indebtedness secured hereby and in such order as Beneficiary may determine,or at option of
Beneficiary the entire amount so collected or any part thereof may be released to Trustor.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.
(3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee;and 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,and in any suit brought by Beneficiary to foreclose this Deed.
(4) To pay:at least len days before delinquency all taxes and assessments affecting said property,including assessments on appurtenant water stock;when
due,all incumbrances,charges and liens,with interest,on said property or any part thereof,which appear to be prior or superior hereto;all costs,fees and expenses
of this Trost.
Should Trustor fail to stake any payment or to do any act as herein provided,then Beneficiary or Trustee,but without obligation so to do and without notice
to or demand upon Trustor and without releasing Trustor from any obligation hereof,may: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;appear in and defend any action or
proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee;pay,purchase,contest or compromise any incumbrance,charge
or lien which in the judgment of either appears to he prior or superior hereto;and, in exercising any such powers,pay necessary expenses,employ counsel and pay
his reasonable fees:
(5) To pay immediately and without demand all sums so expended by Beneficiary or Trustee,with interest from date of expenditure at the same rate set forth
in the Note secured by this Deed of Trust,and to pay for any statement provided for by law in effect at the date hereof regarding the obligation secured hereby any
amount demanded by the Beneficiary not to exceed the maximum allowed by law at the time when said statement is demanded.
B. it is mutually agreed:
(1) That any award of damages in connection with any condemnation for public use of or injury ar said property or any part thereof is hereby assigned and
shall be paid to Beneficiary who may apply or release such moneys received by him in the same manner and with the same effect as above provided for disposition
of proceeds of fire or other insurance.
(2) That by accepting payment of any sum secured hereby after its due date,Beneficiary does not waive his right either to require prompt payment when due
of all other sums so secured or to declare default for failure so to pay.
(3) That at anytime or from time to time,without liability therefor and without notice,upon written request of Beneficiary and presentation of this Deed and
said note for endorsement,and without affecting the personal liability of any person for payment of the indebtedness secured hereby,Trustee may:reconvey any part
of said property,consent to the making of any map or plat thereof;join in granting any easement thereon;or join in any extension agreement or any agreement
subordinating the lien or charge hereof.
Form 3116-3 (6-94)
(4) That upon written request ofbeneficiary stating Jut all sums secured hereby have been paid,and upon surrender of this Deed and said note taTrunee for
ceencllaJon and eeaniion or m ltudisposition as Trustee in its sole discretion may choose and upon payment of its fees.Trustee shall reconvey,without warranty.
the propany then held hereunder.The reciels in such reconveyance of any matten or face shall be conclusive pmol of the duthfuInc Six thereof.no Gremee in such
kconveyance may be described as"the person or persons legally entitled decree."
(5) That as additional security.Trustor hereby gives to and confers upon Beneficiary the right,power and authority.during the continuance of these Trus¢,
to collect the rents,issues and profits of said property,reserving unto Trustor the right,prior to any default by Teaser in payment of any indebtedness secured hereby
or in performance of any agreement hereunder,to col lett and retain such rents,issues and profits as they become due and payable.Upon any such default,Beneficiary
may at any time without notice,either in person,by agent,or by a receiver to be appointed by a coon,and without regard to the adequacy.!any security for the
indebtedness hereby secured,enter upon and take possession of said property or any pan thereof,in his own name sue for or otherwise collets such rents,issues,and
,roti¢,including those past doe and unpaid,and apply the same.less mats and expenus of operation and collection,including reasonable attorney's fees,upon any
i ndebsedness secured hereby,and in such order as Beneficiary may determine.The cretin,upon and taking possession of said property,the collection of such rents.
issues and profits and the application thereof as aforesaid.shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to
Such notice.
(6) That upon default by Trader in payment of any indebtedness Secured hereby or in perfinenice ofamy agreement hereunder,Beneficiary may declare all
sums secured hereby immediately due and payable by delivery to Trustee of written declaration of default and demand for sale and of written notice of default and
Of election to cause[o be sold said property,which notice Trustee shall came[o be filed for record.Beneficiary area shall deposit with Trumee this Decd.Sail nate
and all documents evidencing expenditures secured hereby.
Aftershe lapse of vuh Unions may then be required by low followed,the recordmian of aid notice ordelaul6 and notice arsine having been given as then enquired
by law,Trustee,without demand on Truster,shall sell said property at the time and place fixed by it in sold notice of.sale,either as a whole or in separate parcels,
and insuchorderas it maydeteemine.atpublie auction to the hiabcssbidder for cash in Im minioney ofshe United States,payable at time ofsele.Trustee may postpone
into of all or any part..of said pmpeny by public announcement as such time anti place of sale.and from time to time thereafter,may postpone such sale by public
announcement at the time fixed by she preceding postponement.Trustee shall deliver to such purchaser its deed conveying the prepem so said,but without any
covenant or warranty,express or implied.The exceeds in such deed of any matters at facts shall be,conclusive proof m the nushfulness thereof.Any person,including
'roman.Trustee,or Beneficiary as hereinafter defined,may purcbae at such sale.
After deducting all costs.fees and expenses of Trustee and of this Trust.including cost of evidence of title in connecting with sale,Trustee shall apply the
proceeds of sale to payment of:all,sums expended under the molts hereof.not then Meme.with accrued interest at the amen allowed by law in effect at the dose
hereof all other sums then secured hereby:and the remainder,if any.to the person or persons Icgld ly can t led dierem.
171 Beneficiary,or any successor in ownership of any indebtedness secured hereby,may from[Line to[i me,by instrument is writing,substitute o suacexeat
or successors to any Terme named herein or acting hereunder,which instrument,executed by she Beneficiary and duly acknowledged and recorded in the office of
the retarder of the county or counties where said property is situated,shall be conclusive locator proper substitution of such successor Trustee or Testees,who shall.
without conveyance from the Trustee predecessor,succeed to all its tide,estate.rights.powers and dunes.Said insrumam must contain she name of she original
Tenser.Trustee and Beneficiary hereunder. he book and page where this Red is recorded and the name and address or the new Trustee.
(fl) Thai this Deed applies to.inures to the benefit of.and binds all ponies hereto,theif heirs.legatees.devisee,acne intention.execution.successors and
assigns.The some Beneficiary shall mean the owner and holder.including pledgees,of the nose secured hereby,whether or not named as Beneficiary herein.In his
Deed.whenever the context so requires,the masculine gender includes the feminine and/or comer,and the singular number includes the plural.
(9) That Timeme accepts this Trust when this Deed.duly executed and acknowledged..made it public record as provided by low.Trainee is not ohligated to
notify any party hereto of pending sale nause-.ury tinier Uecd of Trlst enter any actino or proceeding in which Trionce.Beneficiary or Tnutee shall be it party Unless
brought by Trustee.
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 brounwrom see fork.
See Adgp,�,y Uffi�bWphed hereto and made a part hereof. Signature of Tmser
San Juan Capistrano Rousing Tnvestorc J.-P. .
a California limited partnership
By: LINC Housing
General Partner
Sen.r cal'Irorn'I:e By:
Caumyor Pr�efrs1i/ t 5ZTKkW�- S.S.
on C���'ar'k' l `a_J before me.
personally ippemeJ 1 If
personally known ionic(orp vedm me on the basis dissatisfactory evidence)lobe the JEFFREY S.NOZAKI
pentere whose numee�sub,1Udwd to the within instrument and ackn.wdedged r
[.me[hm&I—s-ay rescued flee Same in m/M1ealtheir xmh.riaoil c.,ucliyffnl,and LL COMM'/1044321 T
trMheentgnmurok)onshe nournmeenhe pe...... prm holed(.nrsheemityuNOTARY PUBLIC CALIFORNIA9
hat hyfRl
of which the conedrSfactod.¢seemed she imor mem. ORANGE COUNTY
M Carve.E res NOV 6,1996
WITNESS.1 hand anti oll'icial Seal. �
�///�� (Sed,
Signator -1 KJA/Ld�
OA REQUEST FOR FULL RECONVEYANCE
TO COMMONWEALTH LAND TITLE COMPANY.TR USTEF.:
The undersigned is he legal owner and border of the note or notes,and of all other indebtedness secured by the foregoing Deed of Trust.Said note Or notes,
together with al I other indebtedness secured by send heed of Truss.hast been fol ly paid and satisfied:and you are hereby requested and directed,on pay room to you
ofan) SUMS wing to you under t he terms of nxid Dred of Trust,to cancel Said note Or Moes above mentioned.and all umber evidences of indebtedness scented by
said Deed of Trust delivered to you herewith,usgeher with the said Deed of Trust.and to necnnvey,without warranty,to the parties designated by the terms of said
Deed of Truss,all the estate now held by you under the same.
Dated
Please mail Deed of Trust,
Note and Reconveyance m
D.not lose or destroy this Beed of Trust OR THE NOTE which It sutures.Both mux[be delivered to the Trustee for continuance before remnveymee will be made.
Farm 3116-4(6-94)
ADDENDUM TO
SUBORDINATED DEED OF TRUST WITH
ASSIGNMENT OF RENTS
1 . This Subordinated Deed of Trust with Assignment of Rents ("Deed of
Trust") is subject and subordinate to all of the following:
a. That certain Deed of Trust, Fixture Filing and Assignment of Rents,
dated November 15, 1995, by and between San Juan Capistrano Housing Investors,
L.P., as Trustor, and First Interstate Bank of California, as Trustee, in favor of First
Interstate Bank of California, as Beneficiary, recorded on November 28, 1995, in the
official records of Orange County, California as Instrument No. 95-0522835, and that
certain Assignment of Rents, Leases, Income and Profits, dated November 15, 1995,
by San Juan Capistrano Housing Investors, L.P., to First Interstate Bank of California,
recorded on November 28, 1995 in the official records of said County as Instrument
No. 95-0522836.
b. That certain Deed of Trust and Assignment of Rents, dated
October 18, 1995, by and between San Juan Capistrano Housing Investors, L.P., as
Trustor, and Commonwealth Land Title Company, as Trustee, in favor of Francis C.
Romer, as Beneficiary, recorded on October 27, 1995, in the official records of
Orange County, California as Instrument No. 95-0478913.
C. That certain Regulatory Agreement and Declaration of Restrictive
Covenants, dated October 1, 1995, by and between the California Statewide
Communities Development Authority, as Issuer, U.S. Trust Company of California,
N.A., as Trustee, and San Juan Capistrano Housing Investors, L.P., as Borrower,
recorded on October 31, 1995, in the official records of Orange County, California as
Instrument No. 95-0483760.
d. That certain Agreement of Restrictive Covenants Affecting Real
Property, of even date herewith, by and between the San Juan Capistrano
Redevelopment Agency, and San Juan Capistrano Housing Investors, L.P., recorded
concurrently herewith in the official records of Orange County, California.
2. The Note which is secured by this Deed of Trust contains a subordination
agreement for the subordination of this Deed of Trust, and this Deed of Trust shall be
subject and subordinate to all of the liens and other matters referred to therein.
3. The Note which is secured by this Deed of Trust refers to that certain
Owner Participation Agreement, dated September 19, 1995 ("Agreement"), by and
between Trustor and Beneficiary pertaining to the Property encumbered by this Deed
of Trust, and that certain Agreement of Restrictive Covenants ("Restrictive
Covenants") of even date herewith, by and.between Trustor and Beneficiary and
SJCADT.KB
113095
1
1 i
recorded against the Property concurrently herewith. Trustor, and its successors and
assigns, as Developer under the Agreement, and as Developer under the Restrictive
Covenants, shall observe and comply with all the obligations of Developer under the
Agreement and the Restrictive Covenants. Any default by Developer under the
Agreement or under the Restrictive Covenants shall, after the expiration of any
applicable grace period provided therein, be a default of Trustor under this Deed of
Trust and under the Note secured by this Deed of Trust and any other instruments
securing the Note.
NOTICE: THIS DEED OF TRUST CONTAINS A SUBORDINATION CLAUSE
WHICH MAY RESULT IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING
SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR
LATER SECURITY INSTRUMENT AND THE SUBORDINATION CLAUSE CONTAINS A
PROVISION WHICH MAY ALLOW THE PERSON OBLIGATED ON YOUR REAL
PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE
EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
TRUSTOR:
San Juan Capistrano
Housing Investors, L.P.,
a California limited partnership,
By: LINC Housing Corporation,
General Pa
By:
Presid t
_y
SJCADT.KB
113095
2
STATE OF CALIFORNIA 1
ss
COUNTY OF
On this day of �61� 1995, before me, the
undersigned, a notary public in and for said state, personally appeared
ayKy_Mmel I
personally known to me (or proved to me on the basis of satisfactory evidence) to be
the person(s) whose names) j*em subscribed to the within instrument and
acknowledged to me that /sMeAhey executed the same in &herftheif authorized
capacity(iss), and that by0herftheir signature(s) on the instrument the person(si,
or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature: (Seal) , �E CF #1��KI g
LU NOTARY PUBLIC•CALIFORNIA-P
ORANGE COUNTY --
M Comm.Ex fires NOV. 1998
STATE OF CALIFORNIA )
ss
COUNTY OF )
On this day of 1995, before me, the
undersigned, a notary public in and for said state, personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be
the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their authorized
capacity(ies), and that by his/her/their signature(s) on the instrument the person(s),
or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature: (Seal)
SJCADT.KB
113095
3
.(4) That upon wrinen request ofberlefieiary stating dust all sums secured herebyhave been paid.and upon mnxnderof this Deodand mid note to Tmstee for
cancellation and mu ntion or other disposition as Tmstee in its sole discretion may choose and upon payment of its fees.Trustee shall reconvey,without warranty.
the properly Nen held hereunder.The recalls in such reconveyance of any matters or facts shall he conclusive Proof of the truthfulness thereof.The Dundee in such
reconveyance may be described as"the person or persons legal ly entitled thereto.
(5) That as additional security.Traylor hereby gives to and confers upon Beneficiary the right.power and authority.during the co
ntinuence of these Trusts.
to collect the rents,issues and profits of said prolixity,reserving unto Train,the right,prior to any default by Trusmrin payment of env indebtedness secured hereby
or in performance of any agreement hereunder,to col Ices and retain such reals,issues sad profits as they become due and payable.Upon any such default.Benefietary
may at anytime without notice,either in person,by agent.or by a receiver to be appointed by.court,and without regard to the adequacy of any security for the
indebtedness hereby secured.enter upon and take possession of said property or any pan thereof,in his own time sue for orotherwise collect such rents,issues.and
profits.including those past due and unpaid.and apply the same,less costs and expenses of operation and collection,including rtasonahlc mmftmy*s fees,upon an.
indebtedness secured hereby.and in such order as Beneficiary may determine.The entering upon and taking possession of said pmpcny.the collection of such rents.
issues and profits and the application thereof as aforesaid.shall not curt or waive any default or notice of default hereunder or invalidate any act done pursuant to
such notice.
(6) That upon default by Tmstor in payment of any indebtedness secured hereby Or in performance of am agreement hereunder,Beneficiary may declare all
sums secured hereby immediately due and payable by delivery to Toaster of written declaration of default and demand for sale and 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 alsa shall deposit with Toaster this Deed,said note
and all documents evidencing expenditures secured hereby.
Aftenhe lopseof such time asmay then be required by law following the mcordmion of said notice of default.and notice ofale havingbeen given as then required
by law,Trustee.without demand on Tmstor.shall vel I said pmpemat the time and place fixed by it in said notice M sale,either as a whole or in separate parcels.
and in such orderas it may demmurk.at public auction lathe highest bidder foreash in lawful money of the United Stares.payable at time of sale.Tmstee may postpone
sale of all or any portion of said propeny by public announcement m such time and place of rale,and from time to lime thereafter may postpone such sale by public
announcement at the time fund by the preluding Postponement.Trustee shall deliver to such purchaser its deed con%cving the property so sold.but wirhom any
covenant or warranty.express or implied.The recimis in such dead of any matters or facts shall be conclusive proofof the ituthfulness thereof.Any person,including
Tmstor.Trustee,or Beneficiary as hereinafter defined.may purchase at such sale.
After deducting all costs,fees and expenses of Trustee and of this Trust,including cost of evidence of tide in connecting with sale.Trustee shall apply the
proceeds of sale to payment of;ail sums expended under the terms hereof.not then repaid.with accrued interest at the amount allowed by low in effect at the date
hereof all other sums then secured hereby:and the remainder.if any,to the"man or persons legally entitled thereto.
(7) Beneficiaryy,or any successor in ownership of any indebtedness secured hereby.may from time m time,by manota ern in writing,substitute a successor
or,uecessors to any Tmsteenamed herein or acting hereunder,which instrument,executed by the Beneficiary and duly acknowledged and recorded in the office of
the recorder ofthe county or counties where said property is situated.shall be conclusive proofof proper substitution of such successor Trunex or Trustees.who shall.
without conveyance from the Trustee predecessor,succeed in all its title.estate.rights.powers and duties.Said instrument must contain the name of the original
Trustor.Tmstee and Beneficiary hereunder,the book and page where this need is recorded and the name and addres of the new Trustee.
IBI That this Deed applies to.inures to the benefit of.and binds all panics hereto.their heirs.legatees,devisees,admininmmrs,execobrs,successors and
assigns.The term Beneficiary shall mean the owner and holder.including pledgees,of the note secured hereby,whether or not named as Beneficiary herein.In this
Deed,whenevenhe context so requires,the masculine gender includes the feminine and/or neuter.and the singular number Includes the plural.
(9) That Trustee accepts this Trust when this Deed.duly executed and acknowledged.is mode a public record as provided by tau'.Trustee is not Obligated to
notify any party hereto of pending sale undenmy other Deed of Tmn or of any action or proceeding in which Trustor,Beneficiary or Trustee shall he a party unless
brought by Truss,.
The undersigned Trustor,requests that a copy of any notice of default and of any notice of sale hereunde he mailed m him at bis address herembefum set fonh.
See Adq$A4 r4L11WFhed hereto and made a part hereof. sgnmarc of Beneficiary
San uan LgiV Stra o H using T < Juan C pistrano Community Redevelopment
ora. i .P. -
a California limited partnership
Bw• LINC Housing_ Corporation-
General Partner G e arboro
,To;;
Director
Stmcnf Callfomia By.
County of President I S.S.
On Write me.
pecseasily appeared
personally known to me for proved to me on the basis of satisfactory evidence)to he the
person)sl whose usual sl is/arc subscribed to the within instrument and acknowledged
to me that be/she/they executed the amc in his/her/Their authorised capimayt ixsl.and
that by his/her/their signature(s)an Instremenuhe persons)-or the entity upon behalf
Of which the Persnnlsl acted.executed the instrument.
WITNESS my hand end official seal.
ISeull
Signature REpUEN FOR FULL RECONVEYANCE
TO COMMONWEALTH LAND TITLE COMPANY.TRUSTEE:
The undersigned is the legal owner and holder of the note or note .and of all other indebtedness secured by the foregoing Deed of Trost.Said note or notes.
together with all other indebtedness secured by s.ad Deed of Trust,have been fully paid sad satisfied:and you are hereby rtquened and directed.oa payment to you
of any sums owing to you under the terms of said Deed of Trust,to collect said note or notes above mentioned,and all other evidences of indebtedness secured by
slid Deed of Trust delivered to you herewith,together with the said Deed of Trust,and to reconvey.without warranty.to the parties designated by the terms of said
Deed of Trust,all the estate now held by you under the same_
Dated
Please..it Decd of Trust.
Note and Reconveyance to
Do nm lose or doDoy this Dead of Trutt OR THE NOTE wMch 11 smalls Bush most be dtlt¢ras to the Trustee for cancellation before remneepnce will be made.
recorded against the Property concurrently herewith. Trustor, and its successors and
assigns, as Developer under the Agreement, and as Developer under the Restrictive
Covenants, shall observe and comply with all the obligations of Developer under the
Agreement and the Restrictive Covenants. Any default by Developer under the
Agreement or under the Restrictive Covenants shall, after the expiration of any
applicable grace period provided therein, be a default of Trustor under this Deed of
Trust and under the Note secured by this Deed of Trust and any other instruments
securing the Note.
NOTICE: THIS DEED OF TRUST CONTAINS A SUBORDINATION CLAUSE
WHICH MAY RESULT IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING
SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR
LATER SECURITY INSTRUMENT AND THE SUBORDINATION CLAUSE CONTAINS A
PROVISION WHICH MAY ALLOW THE PERSON OBLIGATED ON YOUR REAL
PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE
EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND.
TRUSTOR: Beneficiary
San Juan Capistrano San Juan Capist ano Comunity
Housing Investors, L.P., Rede elopment A ncy
a California limited partnership,
By: LINC Housing Corporation, b orge o ugh, Exec Live Director
General Partner
By:
President
SJCADT.KB
113095
2
PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT
(Gov't Code 40814& Civil Code 118 1)
State of California )
County of Orange ) ss.
City of San Juan Capistrano )
On December 20. 1995 . before me, Cheryl Johnson
City Clerk, personally appeared_ George Scarborough
personally known to me to be the person whose name is
subscribed to the within instrument and acknowledged to me
that he executed the same in his authorized capacity, and that
by his signature on the instrument the person, or the entity
upon behalf of which the person acted, executed the
instrument.
(SEAL)
WITNESS my hand and official seal.
City Clerk
OPTIONAL
Capacity Claimed by Signer Description of Attached Document
Municipal Corporate Officer
Addendum to Subordinated Deed of Trust
Executive Director with Assignment of Rents
Title Title or Type of Document
Signer is Representing 2 plus exhibit
City of San Juan Capistrano Number of Pages
Community Redevelopment Agency Addendum to document dated 11/30/95
Date of Document
San .Juan Capistrano Housing Investors, LP
by LINC Housing Corporation
Signers)Other Than Named Above
PUBLIC AGENCY FORM OF ACKNOWLEDGEMENT
(Gov't Code 40814& Civil Code 118 1)
State of California )
County of Orange ) ss.
City of San Juan Capistrano )
On December 20, 1995 , before me, Cheryl Johnson
City Clerk, personally appeared George Scarborough
personally known to me to be the person whose name is
subscribed to the within instrument and acknowledged to me
that he executed the same in his authorized capacity, and that
by his signature on the instrument the person, or the entity
upon behalf of which the person acted, executed the
instrument.
(SEAL)
WITNESS my hand and official seal.
W City Clerk
OPTIONAL
Capacity Claimed by Signer Description of Attached Document
Municipal Corporate Officer
Subordinated Deed of Trust with
Executive Director Assignment of Rents
Title Title or Type of Document
Signer is Representing 2 plus 2-page addendum $ exhibit
City of San Juan Capistrano Number of Pages
Community Redevelopment Agency November 30, 1995
Date of Document
SJC Housing Investors. , L.P. by LINC
Signer(s)Other Than Named Above Housing Corp.
EXHIBIT A
Legal Description of Property
[See description attached hereto and made a part hereof]
Assessor's Parcel No.:
SJCADT.KB
113095
4
EXHIBIT "A"
That portion of the Southwest quarter of Section 6 Township 8 South, Range 7 West, San
Bernardino Base and Meridian, in the City of San Juan Capistrano, County of Orange, State
of California, described as follows:
Beginning at the intersection of the center lines of Ganado Road and the old Ortega
Highway, as shown on a map filed in book 27 page 8 of Record of Surveys in the office of
the County Recorder of Orange County, California, said point being the most Northerly
corner of land described in the deed to Arley H. Leck and wife, recorded December 24,
1954 in book 2905 page 363 of Official Records; thence South 42° 02' 00" East 104.10
feet along the center line of said Ganado Road to an angle point in said land of Leck;
thence South 030 20' 10" West 169.97 feet; thence South 63' 23' 00" West 7.24 feet along
the Southeasterly line of said land of Leck to the true point of beginning, said point lies on
the Westerly right of way line of Rancho Viejo Road; thence South 21° 00' 15" East along
the Westerly right of way line of Rancho Viejo Road 15.27 feet; thence leaving said right
of way line, South 03* 20' 10" West 294.00 feet; thence South 74* 29' 00" West 255.73
feet; thence North 15* 28' 37" West 12.93 feet; thence North 59* 36' 20" West 20.50 feet
to a point on a non-tangent curve concave Northwesterly having a radius of 25.00 feet;
thence Southerly and Westerly along said curve an arc distance of 19.25 feet, through a
central angle of 44° 07' 43" to a tangent line; thence South 740 31' 23" West 51.29 feet to
a tangent curve concave Northeasterly, having a radius of 25.00 feet; thence Westerly and
Northerly along said curve an arc distance of 46.89 feet, through a central angle of 107°
27' 18" to a tangent line; thence North 01° 58' 40" Fast 87:43 feet; thence North 40" 17'
45" East 36.81 feet; thence North 030 24' 18" East 65.51 feet to the Southerly line of
Parcel 2 of Parcel Map No. 85-328 as filed in book 241 pages 12 and 13 of Parcel Maps,
records of the County of Orange; thence North 63* 23' 00" East along the Southerly line of
said parcel map 218.99 feet to the Southeasterly corner of said Parcel Map No. 85-328;
thence North 16° 33' 40" West along the Easterly line of said parcel map 202.59 feet to the
Southerly right of way line of Ortega Highway; thence North 68° 59' 45" Fast along the
Southerly right of way line of Ortega Highway 124.81 feet to a tangent curve concave
Southwesterly having a radius.of 25.00 feet; thence Easterly and Southerly along said curve
an arc distance of 39.27 feet, through a central angle of 900 00' 00" to a tangent line, said
point lying on the Westerly right of way line of Rancho Viejo Road; thence South 21° 00'
15" East along the Westerly right of way line of Rancho Viejo Road 160.67 feet to the true
point of beginning.
Said land is also shown as Lot 2 of Lot Line Adjustment No. 95-PM 85-328-1, recorded
October 30, 1995, as Instrument No. 95-480794, Official Records.
I ' SAN JUAN CAPISTRANO COMMUNITY REDEVELOPMENT AGENCY
Office of the Agency Secretary
32400 Paseo Adelanto
San Juan Capistrano, California 92675
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF SAN JUAN CAPISTRANO )
This is to certify that the interest in real property conveyed by the Subordinated
Deed of Trust with Assignment of Rents for property located at the southwest corner of Ortega
Highway and Rancho Viejo Road, dated November 30, 1995, from San Juan Capistrano Housing
Investors, L.P., to the SAN JUAN CAPISTRANO REDEVELOPMENT AGENCY, a political
corporation and/or governmental agency, to secure a Promissory Note of even date therewith to
the Agency in the sum of$1,550,000, is hereby accepted by order of the San Juan Capistrano
Redevelopment Agency Board of Directors on September 19, 1995, and the grantee consents to
recordation thereof by its duly authorized officer.
(SEAL) -
Cheryl Johnson, Agency Secretary
San Juan Capistrano, California
DATED: This 14th day of December, 1995
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