FIRST AMENDMENT OF LEASE AGREEMENT
BETWEEN
CITY OF FULLERTON
AND
CALVARY CHAPEL OPEN DOOR CHURCH
This First Amendment of Lease Agreement ("Amendment") is entered into this ~~"~ day of August 2004, by and between the City of Fullerton, a California municipal corporation LESSOR") and Calvary Chapel Open Door Church (" LESSEE"), pursuant to the authority of Sections 65864 through 65869.5 of the California Government Code, and Article XI, Section 7 of the California Constitution.
1. Recitals. LESSOR and LESSEE previously entered into a Lease Agreement dated as of July 16, 2002. The parties desire to amend the Original Agreement on the terms and conditions more specifically set forth below.
2. Amendment of Section 19. Section 19(p) shall be added to the Original Agreement in the following form:
p) LESSEE may install an 8- inch storm drain pipe as shown on the construction plans and Exhibit " A". Upon termination of the Lease or Notice by LESSOR, the LESSEE within 180 days shall remove the pipe and reconstruct the condition of the area occupied by the pipe to the LESSOR'S satisfaction."
3. Limitation of Amendment. Except as expressly modified by this Amendment, the Original Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this amended Agreement as of this date first above written.
CITY OF FULLERTON
By: ~
Mike Clesceri
Mayor
Date: ~' ~~ fo
By:
Beverley White
City Clerk
Date: ~'
APP
Rich d D. JZ
City ttorney
CALVA CHAPEL OP N OOR CHU H
By:
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Title: ~ '~-~ S ~ D ~'`' ~
Date: ~~ Z ~ _ ~ 4
By:
Printed Name:
Title:
Date:
Tax ID#:
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This Document was electronically recorded byCHICAGO TITLE COMPANY Chicago Title Commercial
Recorded in Official Records, Orange County
Tom Daly, Clerk- Recorder -CASS COMMERCIAL BANK
13001 Hollenberg. brave ~ ~ ~ ~ ~ -
Bridgeton , MO 63044 ~ ~'~~~~~~'~~~~
q 48. 00
200400059621711:46am 06/ 30/04 .
WHEN RECORDED MAIL TO: 921 4 D11 15
CASS COMMERCIAL BANK 0. 00 0. 00 0. 00 0. 00 42. 00 0. 00 0. 00 0. 00 13001 Hollenberg Drive
Bridgeton , MO 63044 _
S ~ 3~~ t ~ t'~-I.~ FOR RECORDER'S USE ONLY
DEED OF TRUST
1 1 MAXIMUM LIEN. The lien~of this Deed of Trust shall not exceed at any one time X900, 000.00.
THIS DEED OF TRUST is dated June 30, 2004, among CALVARY CHAPEL OPEN DOOR, A NONPROFIT RELIGIOUS CORPORATION, whose address is 1011 North Harbor Blvd., Anaheim, CA 92801 (" Trustor");CASS COMMERCIAL BANK, whose address is 13001 Hollenberg Drive, Bridgeton , MO 63044 ( referred to 1,0 ~ below sometimes as " Lender" and sometimes ~ as " Beneficiary"); and Chicano Title Company, whose address is 16969 Von Kerman, Irvine, CA 92606 ( referred to below as . " Trustee ").
CONVEYANCE AND GRANT. For valuable consideration, Trustor irrevocsbly grants, transfers and assignsto Trustee in trust, with power of sale, for the benefit of Lender as Beneficla all of Tru r' 'ry, sto s right, title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights ( including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profitsrelating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, ( theReal Property") located in Orange County, State of California:
That portion of Lot 13 of the Miles Rancho, in the City of Anaheim, County of Orange, State of California, as per map recorded in Book 4, Page 7 of miscellaneous maps, ~ in the Office of the CountyRecorder of said County, together with that portion of Spadra Road, vacated by order of the Board of Supervisors of said County, a copy of which was recorded May 16, 1917 in Book 11, Page 176 of Deeds, described as follows:
Parcel 2, as shown on a parcel map filed in Book 52, Page 41 of Parcel Maps, in the Office of the County Recorder of Orange County.
AND
Lot 22 of Tract No. 2390, in the City of Anaheim, County of Orange, State of California, as per maprecorded in Book 71, Page 11 through 14 inclusive of Maps, in the Office of the County Recorder ofsaid County.
The Real Property or its address is commonly known as 1011 North Harbor Blvd. and 727 North Gilbert Street, Anaheim, CA 92801. The Assessor's Parcel Number for the Real Property is 271- 082-25 and 071- 081-06
CROSS- COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus +~terest thereon, of Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor or any one or more of them, whether now existing or hereafter arising, whether related or unrelatedto the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated whether Trustor may be liable individually or jointlywith others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon
DEED OF TRUST
Continued) Page 2
such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts maybe or hereafter may become otherwise unenforceable.
FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interestthereon; however, in no event shall such future advances ( excluding interest) exceed in the aggregate $ 900, 000.00.
Trustor presently assigns to Lender ( also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, andinterest in and to all present and future leases of the Property and all Rents from the Property. This is an absoluteassignment of Rents made in connection with an obligation secured by real property pursuant to California CivilCode Section 2938. In addition, Trustor grants to Lender a Uniform Commercial Code security interest in thePersonal Property and Rents.
THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THERENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE ( A) PAYMENT OF THE INDEBTEDNESS AND B) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF THE TRUSTOR UNDER THE NOTE, THE RELATEDDOCUMENTS, AND THiS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THEFOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lenderall amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform allof Trustor's obligations under the Note, this Deed of Trust, and the Related Documents.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use ofthe Property shall be governed by the following provisions:
Possession and Use. Until the occurrence of an Event of Default, Trustor ma 1 remain in control of the Pro Y () possession and
perty; ( 2) use, operate or manage the Property; and ( 3) collect the Rents from the Property.
Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly pertorm all repairs,replacements, and maintenance necessary to preserve its value.
Compliance With Environmental Laws. Trustor represents and warrants to Lender that: ( 1) During the periodof Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment,disposal, release or threatened release of any Hazardous Substance by any person on, under, about or from the Property; ( 2) Trustor has no knowledge of, or reason to believe that there has been, except as previouslydisclosed to and acknowledged by Lender in writing, ( a) any breach or violation of any Environmental Laws,b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of anyHazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property,or ( c) any actual or threatened litigation or claims of any kind by any person relating to such matters; and ( 3)Except as previously disclosed to and acknowledged by Lender in writing, ( a) neither Trustor nor any tenant,contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, disposeof or release any Hazardous Substance on, under, about or from the Property; and ( b) any such activity shallbe conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances,including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon theProperty to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate todetermine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made byLender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability onthe part of Lender to Trustor or to any other person. The representations and warranties contained herein arebased on Trustor's due dill ence in investi atin the Pro '~g 9 9 party for Hazardous Substances. Trustor hereby ( 1) ~~releases and waives any future claims against Lender for indemnity or contribution in the event Trustorbecomes liable for cleanup or other costs under any such laws; and ( 2) agrees to indemnify and hold harmlessLender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender maydirectly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release occurringprior to Trustor's ownership or interest in the Property, whether or not the same was or should have been knownto Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall
DEED OF TRUST
Continued) Pege 3
survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trustand shall not be affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer anystripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of theforegoing, Trustor will not remove, or grant to any other party the right to remove, any timber, minerals including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent.
Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Propertywithout Lender's prior written consent. As a condition to the removal of any Improvements, Lender may requireTrustor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of atleast equal value.
Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Propertyat atl reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Trustor'scompliance with the terms and conditions of this Deed of Trust.
Compliance with Governmental Requirements. Trustor shall promptly comply with all laws, ordinances, and regulations, now or hereafterin effect, of all governmental authorities applicable to the use or occupancy of theProperty, including without limitation, the Americans With Disabilities Act. Trustor may contest in good faith anysuch taw, ordinance, or regulation and withhold compliance during any proceeding, including appropriateappeals, so long as Trustor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Trustor to post adequatesecurity or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest.
Duty to Protect. Trustor agrees neither to abandon or leave unattended the Property. Trustor shall do all otheracts, in addition to those acts set forth above in this section, which from the character and use of the Propertyare reasonably necessary to protect and preserve the Property.
DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payableall sums secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or anypart of the Real Property, or any interest in the Real Property. A " sate or transfer" means the conveyance of RealProperty or any right, title or interest in the Reat Property; whether legal, beneficial or equitable; whether voluntaryor involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed, leaseholdinterest with a term greater than three ( 3) years, lease- option contract, or by sale, assignment, or transfer of anybeneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance ofan interest in the Real Property. If any Trustor is a corporation, partnership or limited liability company, transfer alsoincludes any change in ownership of more than twenty-five percent ( 25°~) of the voting stock, partnership interestsor limited liability company interests, as the case may be, of such Trustor. However, this option shall not beexercised by Lender if such exercise is prohibited by applicable law.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed ofTrust:
Payment. Trustor shall pay when due ( and in all events at least ten ( 10} days prior to delinquency) all taxes,special taxes, assessments, charges ( including water and sewer), fines and impositions levied against or onaccount of the Property, and shall pay when due all claims for work done on or for services rendered or materialfurnished to the Property. Trustor shall maintain the Property free of afl liens having priority over or equal to theinterest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except asotherwise provided in this Deed of Trust.
Right to Corrtest. Trustor may withhold payment of any tax, assessment, or claim in connection with a goodfaith dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized. ! f a lienarises or is filed as a result of nonpayment, Trustor shall within fifteen ( 15) days after the lien arises or, if a lien isfiled, within fifteen ( 15) days after Trustor has notice of the filing, secure the discharge of the lien, or if requestedby Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to
DEED QF TRUST
Continued) Page 4
Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges thatcould accrue as a result of a foreclosure or sale under the lien. In any contest, Trustor shall defend itself andLender and shall satisfy any adverse judgment before enforcement against the Property. Trustor shall nameLender as an additional obligee under any surety bond furnished in the contest proceedings.
Evidence of Paymerrt. Trustor shall upon demand furnish to Lender satisfactory evidence of payment of thetaxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any timea written statement of the taxes and assessments against the Property.
Notice of Construction. Trustor shall notify Lender at feast fifteen ( 15) days before any work is commenced,any services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen'slien, or other lien could be asserted on account of the work, services, or materials and the cost exceeds 5, 000.00.. Trustor will upon request of Lender furnish to Lender advance assurances satisfactory to Lenderthat Trustor can and will pay the cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of thisDeed of Trust.
Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standardextended coverage endorsements on a replacement basis for the full insurable value covering all Improvementson the Reai Property in an amount sufficient to avoid application of any coinsurance clause, and with a standardmortgagee clause in favor of Lender. Trustor shall also procure and maintain comprehensive general liabilityinsurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain such otherinsurance, including but not limned to hazard, business interruption, and boiler insurance, as Lender mayreasonably require. Notwithstanding the foregoing, in no event shall Trustor be required to provide hazardinsurance in excess of the replacement value of the improvements on the Real Property. Policies shall bewritten in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from timeto time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least thirty ( 30) days prior written notice to Lender.Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not beimpaired in any way by any act, omission or default of Trustor or any other person. Should the Real Property belocated in an area designated by the Director of the Federal Emergency Management Agency as a special floodhazard area, Trustor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days afternotice is given by Lender that the Property is located in a special flood hazard area, for the full unpaid principalbalance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits setunder the National Flood Insurance Program, or as otherwise required by Lender, and to maintain suchinsurance for the term of the loan.
Application of Proceeds. Trustor shall promptly notify Lender of any loss or damage to the Property if theestimated cost of repair or replacement exceeds $ 5, 000.00. Lender may make proof of loss if Trustor faits to doso within fifteen ( 15) days of the casualty. If in Lender's sole judgment Lender's security interest in the Propertyhas been impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance andapply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or therestoration and repair of the Property. If the proceeds are to be applied to restoration and repair, Trustor shallrepair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall,upon satisfactory proof of such expenditure, pay or reimburse Trustor from the proceeds for the reasonable cost ""`of repair or restoration if Trustor is not in default under this Deed of Trust. Any proceeds which have not been ~~disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration ofthe Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to payaccrued interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. IfLender holds any proceeds after payment in full- of the Indebtedness, such proceeds shall be paid to Trustor asTrustor's interests may appear.
Trustor's Report on Insurance. Upon request of Lender, however not more than once a year, Trustor shall
DEED OF TRUST
Continued) Page 5
furnish to Lender a report on each existing policy of insurance showing: ( 1) the name of the insurer; ( 2) the risks insured; ( 3) the amount of the policy; ( 4) the property insured, the then current replacement value of such property, and the manner of determining that value; and ( 5) the expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property.
LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender'sinterest in the Property or if Trustor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to discharge or pay when due any amounts Trustor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Trustor's behalf maybut shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under theNote from the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses wilt become a part of the Indebtedness and, at Lender's option, will ( A) be payable on demand; ( B) be added to the balance ofthe Note and be apportioned among and be payable with any installment payments to become due during either ( 1)the term of any applicable insurance policy; or ( 2) the remaining term of the Note; or ( C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled uponDefault.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of thisDeed of Trust:
Title. Trustor warrants that: ( a) Trustor holds good and marketable title of record to the Property in fee simple,free and clear of all liens and encumbrances other than those set forth in the Real Property description or in anytitle insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connectionwith this Deed of Trust, and ( b) Trustor has the full right, power, and authority to execute and deliver this Deedof Trust to Lender.
Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend thetitle to the Property against the lawful claims of all persons. In the event any action or proceeding iscommenced that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust, Trustorshall defend the action at Trustor's expense. Trustor may be the nominal party in such proceeding, but Lendershall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender mayrequest from time to time to permit such participation.
Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities.
Survival of Representations and Warranties. All representations, warranties, and agreements made byTrustor in this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such time as Trustor's Indebtedness shall be paid in full.
CONDEMNATION. The following provisions relating to eminent domain and inverse condemnation proceedings area part of this Deed of Trust:
Proceedings. If any eminent domain or inverse condemnation proceeding is commenced affecting the Property, Trustor shall promptly notify Lender in writing, and Trustor shall promptly take such steps as may be necessary to pursue or defend the action and obtain the award. Trustor may be the nominal party in any such proceeding, but Lender shall be entitled, at its election, to participate in the proceeding and to be represented inthe proceeding by counsel of its own choice, and Trustor will deliver or cause to be delivered to Lender suchinstruments and documentation as may be requested by Lender from time to time to permit such participation.
Application of Net Proceeds. If any award is made or settlement entered into in any condemnation Mi'.~~M ,. ~ V. rc::: ~. ~. e. 1i i ..,.. fie
DEED OF TRUST
Continued) Page 6
proceedings affecting all or any part of the Property or by any proceeding or purchase in lieu of condemnation,Lender may at its election, and to the extent permitted by law, require that all or any portion of the award or settlement be applied to the Indebtedness and to the repayment of all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation proceedings.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges are a part of this Deed of Trust:
Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender for all taxes, as described below, togetherwith all expenses incurred in recording, pertecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust.
Taxes. The following shall constitute taxes to which this section applies: ( 1) a specific tax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; ( 2) a specific tax on Trustor which Trustor fs authorized or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; ( 3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and ( 4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Trustor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below unless Trustor either ( 1) pays the tax before it becomes delinquent, or ( 2) contests the tax as provided above in the Taxes and Liens section and depositswith Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust:
Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Propertyconstitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform CommercialCode as amended from time to time.
Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lender to perfect and continue Lender's security interest in the Rents and Personal Property. Trustor shall reimburseLender for all expenses incurred in pertecting or continuing this security interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble anyPersonal Property not affixed to the Property in a manner and at a place reasonably convenient to Trustor andLender and make it available to Lender within three ( 3) days after receipt of written demand from Lender to the extent permitted by applicable law.
Addresses. The mailing addresses of Trustor ( debtor) and Lender ( secured party) from which information concerning the security interest granted by this Deed of Trust may be obtained ( each as required by theUniform Commercial Code) are as stated on the first page of this Deed of Trust.
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this Deed of Trust:
Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, executeand deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times andin such offices and places as Lender may deem appropriate, any and all such mortgages, deeds of trust,security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirablein order to effectuate, complete, perfect, continue, or preserve ( 1) Trustor's obligations under the Note, thisDeed of Trust, and the Related Documents, and { 2) the liens and security interests created by this Deed ofTrust as first and prior liens on the Property, whether now owned or hereafter acquired by Trustor. Unless M' Re iy Mpre~r ill en,. Hi 1~,. ~~,.
DEED OF TRUST
Continued) Page ~
prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph.
Attorney- in-Fact. If Trustor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocablyappoints Lender as Trustor's attorney-in-fact for the purpose of making, executing, delivering, filing, recording,and doing all other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in the preceding paragraph.
FULL PERFORMANCE. If Trustor pays all the Indebtedness, including without limitation all future advances, when due, and otherwise performs all the obligations imposed upon Trustor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable statements of termination of any financing statement on fife evidencing Lender's security interest in the Rents andthe Personal Property. Lender may charge Trustor a reasonable reconveyance fee at the time of reconveyance.
EVENTS OF DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under thisDeed of Trust:
Payment Default. Trustor fails to make any payment when due under the Indebtedness.
Other Defaults. Trustor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term,obligation, covenant or condition contained in any other agreement between Lender and Trustor.
Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in any of the Related Documents.
Default on Other Payments. Failure of Trustor within the time required by this Deed of Trust to make anypayment for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of anylien.
False Statements. Any warranty, representation or statement made or furnished to Lender by Trustor or on Trustor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter.
Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect ( including failure of any collateral document to create a valid and perfected security interest or lien) at anytime and for any reason.
Insolvency. The dissolution or termination . of Trustor's existence as a going business, the insolvency of Trustor, the appointment of a receiver for any part of Trustor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Trustor.
Creditor or Forteiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether byjudicial proceeding, self- help, repossession or any other method, by any creditor of Trustor or by anygovernmental agency against any property securing the Indebtedness. This includes a garnishment of any ofTrustor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply ifthere is a good faith dispute by Trustor as to the validity or reasonableness of the claim which is the basis of thecreditor or forfeiture proceeding and if Trustor gives Lender written notice of the creditor or forteiture proceeding and deposits with Lender monies or a surety bond for the creditor or forteiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute.
Breach of Other Agreemerrt. Any breach by Trustor under the terms of any other agreement between Trustorand Lender that is not remedied within any grace period provided therein, including without limitation anyagreement concerning any indebtedness or other obligation of Trustor to Lender, whether existing now or later.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser,surety, or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or 11p..a ~ x ~ 4' i ~ ra M r, Ix ...
DEED OF TRUST
Continued) page 8
accommodation party dies or becomes incompetent, or revokes or disputes the validity of, or liability under, anyGuaranty of the Indebtedness. In the event of a death, Lender, at its option, may, but shall not be required to,permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty in a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
Adverse Change. A material adverse change occurs in Trustor's financial condition, or Lender believes the prospect of payment or pertormance of the Indebtedness is impaired.
Insecurity. Lender in good faith believes itself insecure.
Right to Cure. If any default, other than a default in payment is curable and if Trustor has not been given a notice of a breach of the same provision of this Deed of Trust within the preceding twelve ( 12) months, it may becured if Trustor, after receiving written notice from Lender demanding cure of such default: ( 1) cures thedefault within twenty ( 20) days; or ( 2) if the cure requires more than twenty ( 20) days, immediately initiates steps which Lender deems in Lender's sole discretion to be sufficient to cure the default and thereaftercontinues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may exercise any one or more of the following rights and remedies:
Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Trustor under thisDeed of Trust, after Trustor's failure to perform, shall not affect Lender's right t~o declare a default and exerciseits remedies.
Foreclosure by Sale. Upon an Event of Default under this Deed ~of Trust, Beneficiary may declare the entireIndebtedness secured by this Deed of Trust immediately due and payable by delivery to Trustee of writtendeclaration of default and demand for sale and of written notice of default and of election to cause to be . sold the Property, which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee thisDeed of Trust, the Note, other documents requested by Trustee, and all documents evidencing expendituressecured hereby. After the lapse of such time as may then be required by law following the recordation of thenotice of default, and notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell the Property at the time and place #ixed by it in the notice of sale, either as a whole or in separate parcels, and in such order as it may determine, at public auction to the highest bidder for cash inlawful money of the United States, payable at time of sale. Trustee may postpone sale of all or any portion ofthe Property by public announcement at such time and place of sale, and from time to time thereafter maypostpone such sale by public announcement at the time fixed by the preceding postponement in accordancewith applicable law. Trustee shall deliver to such purchaser its deed conveying the Property so sold, butwithout any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall beconclusive proof of the truthfulness thereof. Any person, including Trustor, Trustee or Beneficiary maypurchase at such sale. After deducting all costs, fees and expenses of Trustee and of this Trust, including costof evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of: all sums expended under the terms hereof, not then repaid, with accrued interest at the amount allowed by law in effectat the date hereof; all other sums then secured hereby; and the remainder, if any, to the person or personslegally. entitled thereto.
Judicial Foreclosure. With respect to all or any part of the Real Property, Lender shall have the right in lieu offoreclosure by power of sale to foreclose by judicial foreclosure in accordance with and to the full extent provided by California law.
UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have ail the rights andremedies of a secured party under the Uniform Commercial Code, including without limitation the right torecover any deficiency in the manner and to the full extent provided by California law.
Collect Rents. Lender shall have the right, without notice to Trustor to take possession of and manage the Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and
DEED OF TRUST
Continued) Page 9
above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are collected byLender, then Trustor irrevocably designates Lender as Trustor's attorney-in-fact to endorse instruments received in payment thereof in the name of Trustor and to negotiate the same and collect the proceeds.Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed. Lender mayexercise its rights under this subparagraph either in person, by agent, or through a receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any partof the Property, with the power to protect and preserve the Property, to operate the Property precedingforeclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the costof the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law.
Lender`s right to the appointment of a receiver shall exist whether or not the apparent value of the Propertyexceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver.
Tenancy at Sufferance. If Trustor remains in possession of the Property after the Property is sold as providedabove or Lender otherwise becomes entitled to possession of the Property upon default of Trustor, Trustor shall become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option,either ( 1) pay a reasonable rental for the use of the Property, or ( 2) vacate the Property immediately upon the demand of Lender.
Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or by law.
Notice of Sale. Lender shall give Trustor reasonable notice of the time and place of any public sale of the Personal Properly or of the time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at least ten ( i 0) days before the time of thesale or disposition. Any safe of the Personal Property may be made in conjunction with any sale of the Real Property.
Sale of the Property. To the extent permitted by applicable law, Trustor hereby waives any and all rights tohave the Property marshalled. In exercising its rights and remedies, the Trustee or Lender shall be free to sellall or any part of the Property together or separately, in one sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by taw,all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection ofits interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand andshall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys'fees and Lender's legal expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings ( including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post- judgment collection services, the cost of searching records, obtaining title reportsincluding foreclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee,to the extent permitted by applicable law. Trustor also will pay any court costs, in addition to all other sums provided by law.
Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section.
POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations ofTrustee are part of this Deed of Trust:
Powers of Trustee. In addition to all powers of Trustee arising as a matter of law, Trustee shall have the powerto take the following actions with respect to the Property upon the written request of Lender and Trustor: ( a) join Ike. ,. i nrn e~= ~ Ma ii ~..
DEED OF TRUST
Continued) Page ~o
in preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights tothe public; ( b) join in granting any easement or creating any restriction on the Real Property; and ( c) join in anysubordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust.
Obligations to Notify. Trustee shall not be obligated to notify any other party of a pending sale under any othertrust deed or lien, or of any action or proceeding in which Trustor, Lender, or Trustee shall be a party, unlessthe action or proceeding is brought by Trustee.
Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rightsand remedies set # orth above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law.
Successor Trustee. Lender, at Lender's option, may from time to time appoint a successor Trustee to anyTrustee appointed under this Deed of Trust by an instrument executed and acknowledged by Lender andrecorded in the office of the recorder of Orange County, State of California. The instrument shall contain, inaddition to all other matters required by state law, the names of the original Lender, Trustee, and Trustor, thebook and page where this Deed of Trust is recorded, and the name and address of the successor trustee, andthe instrument shall be executed and acknowledged by Lender or its successors in interest. The successor trustee, without conveyance of the Property, shall succeed to all the title, power, and duties conferred upon theTrustee in this Deed of Trust and by applicable law. This procedure for substitution of Trustee shall govern tothe exclusion of all other provisions for substitution.
Acceptance by Trustee. Trustee accepts this Trust when this Deed of Trust, duly executed and acknowledged, is made a public record as provided by law.
NOTICES. Any notice. required to be given under this Deed of Trust shall be given in writing, and shall be effectivewhen actually delivered, when actually received by telefacsimile ( unless otherwise required by law), when depositedwith a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class,certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed ofTrust. Trustor requests that copies of any notices of default and sale be directed to Trustor's address shown near the beginning of this Deed of Trust. All copies of notices of foreclosure from the holder of, any lien which has priorityover this Deed of Trust shall be sent to Lender's address, as shown near the beginning of this Deed of Trust. Anyparty may change its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address. For notice purposes, Trustoragrees to keep Lender informed at all times of Trustor's current address. Unless otherwise provided or required bylaw, if there is more than one Trustor, any notice given by Lender to any Trustor is deemed to be notice given to allTrustors.
STATEMENT OF OBLIGATION FEE. Lender may collect a fee, not to exceed the maximum amount permitted bylaw, for furnishing the statement of obligation as provided by Section 2943 of the Civil Code of California.
FINANCIAL STATEMENTS. Furnish Lender with, as soon as available, but in no event later than one hundredtwenty ( 120) days after the end of each fiscal year, Borrower's Balance Sheet and Income Statement for the yearended, prepared by Borrower satisfactory to Lender.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
Amendments. This Deed of Trust, together with any Related Documents; constitutes the entire understandingand agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment tothis Deed of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment.
Annual Reports. If the Property is used for purposes other than Trustor's residence, Trustor shall furnish toLender, upon request, a certified statement of net operating income received from the Property during Trustor'sprevious fiscal year in such form and detail as Lender shall require. " Net operating income" shall mean all cashreceipts from the Property less all cash expenditures made in connection with the operation of the Property.
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DEED OF TRUST
Continued) Page 11
Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust.
Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
Governing Law. This Deed of Trust will be governed by, construed and enforced in accordance with federal law and the laws of the State of Missouri, except and only to the extent of procedural matters related to the pertection and enforcement of Lender's rights and remedies against the Property, which matters shall be governed by the laws of the State of California. However, in the event that the enforceability or validity of any provision of this Deed of Trust is challenged or questioned, such provision shall be governed by whichever applicable state or federal law would uphold or would enforce such challenged or questioned provision. The loan transaction which is evidenced by the Note and this Deed of Trust has been applied for, considered, approved and made, and all necessary loan documents have been accepted by Lender in the State of Missouri.
Ghoice of Venue. If there is a lawsuit, Trustor agrees upon Lender's request to submit to the jurisdiction of the courts of St. Louis County, State of Missouri.
No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliancewith that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Trustor, shall constitute a waiver of any of Lender's rights or of any of Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust,the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequentinstances where such consent is required and in ail cases such consent may be granted or withheld in the solediscretion of Lender.
Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of anyother provision of this Deed of Trust.
Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Trustor, Lender, without notice to Trustor, may deal with Trustor's successors with reference to this Deed of Trust and the Indebtedness byway of forbearance or extension without releasing Trustor from the obligations of this Deed of Trust or liability under the Indebtedness.
Time is of the Essence. Time is of the essence in the performance of this Deed of Trust.
DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this ..~ Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in ~`lawful money of the United States of America. Words and terms used in the singular shall include the plural, andthe plural shall include the singular, as the context may require. Words and terms not otherwise defined in thisDeed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
Beneficiary. The word " Beneficiary" means CASS COMMERCIAL BANK, and its successors and assigns.
Borrower. The word " Borrower" means CALVARY CHAPEL OPEN DOOR and includes all co- signersand co- makers signing the Note.
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DEED OF TRUST
Continued) Page 12
Deed of Trust. The words " Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all assignment and security interest provisions relating to the Personal Property and Rents.
Default. The word " Default" means the Default set forth in this Deed of Trust in the section titled " Default".
Environmental Laws. The words " Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended,42 U. S.C. Section 9601, et seq. (" CERCLA"), the Superfund Amendments and Reauthorization Act of 1986,Pub. L. No. 99- 499 (" SARA"), the Hazardous Materials Transportation Act, 49 U. S.C. Section 1801, et seq., the Resource Conservation and Recovery Act, 42 U. S.C. Section 6901, et seq., Chapters 6.5 through 7. 7 of Division 20 of the California Health and Safety Code, Section 25100, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto.
Event of Default. The words " Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default section of this Deed of Trust.
Guaranty. The word " Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation partyto Lender, including without limitation a guaranty of all or part of the Note.
Hazardous Subatances. The words " Hazardous Substances" mean materials that, because of their quantity,concentration or physical, chemical or infectious characteristics, may cause or pose a present or potentialhazard to human health or the environment when Improperly used, treated, stored, disposed of, generated,manufactured, transported or otherwise handled. The words " Hazardous Substances" are used in their verybroadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental Laws. The term " Hazardous Substances" also includes, without limitation, petroleum and petroleum by- productsor any fraction thereof and asbestos.
Improvements. The word " Improvements" means all existing and future improvements, buildings, structures,mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property.
Indebtedness. The word " Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of, modifications of,consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by Lender to discharge Trustor's obligations or expenses incurred by Trustee or Lender to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision, together with all interest thereon and all amounts that may be indirectly secured by the Cross- Collateralizationprovision of this Deed of Trust.
Lender. The word " Lender" means CASS COMMERCIAL BANK, its successors and assigns.
Note. The word " Note" means the promissory note dated June 30, 2004, in the original principal amount of X900, 000.00 from Trustor to Lender, together with all renewals of, extensions of, modifications of, refinancingsof, consolidations of, and substitutions for the promissory note or agreement.
Personal Property. The words " Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property;together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds ( including without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property.
Property. The word " Property" means collectively the Real Property and the Personal Property.
Real Property. The words " Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
DEED OF TRUST
Continued) Page 13
Related Documents. The words " Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
Rents. The word " Rents" means all present and future leases, rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property together with the cash proceeds of the Rents.
Trustee. The word " Trustee" means Chicago Title Company, whose address is 16969 Von Karman, Irvine, CA 92606 and any substitute or successor trustees.
Trustor. The word " Trustor" means CALVARY CHAPEL OPEN DOOR.
TRUSTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND TRUSTOR AGREES TO ITS TERMS.
TRUSTOR:
CALVARY/~1APEL OPEN DOOR
By: ... • ~-.- ~- ~
w -
Roger S Ihut, President of CALVARY CHAPEL OPEN DOOR
ey: 9~
Gary Turne Secretary of CALVARY CHAPEL OPEN DOOR
DEED OF TRUST
Continued) Page 14
CERTIFICATE OF ACKNOWLEDGMENT
STATE OF ~~~~cn~ e, .
SS
COUNTY OF ~,~ ~
On ~ 1.~ Y12. ~~ , 20~ before me,
personally appeared Roger Stahlhut; Ge Turner 'ry , personally known to me ( or proved to 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/ sheltheyexecuted the same in his/ her/their authorized capacity(ies), and that byhis/ 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.
CHRISi1NEV.
Corr~~ br- ~ 1391300
Nolery h#~Nc - CaIMoeMa
Oranp~ County
My Conxn.. E~ q~ Dec 22, 2006
Signs
Seel)
DO NOT RECORD)
REQUEST FOR FULL RECONVEYANCE
To be used only when obligations have been paid in full) To: Trustee
The undersigned is the legal owner and holder of all Indebtedness secured by this Deed of Trust. All sums securedby this Deed of Trust have been fully paid and satisfied. You are hereby directed, upon payment to you of any sumsowing to you under the terms of this Deed of Trust or pursuant to any applicable statute, to cancel the Note securedby this Deed of Trust ( which is delivered to you together with this Deed of Trust), and to reconvey, without warranty,to the parties designated by the terms of this Deed of Trust, the estate now held by you under this Deed of Trust.Please mail the reconveyance and Related Documents to:
Date:
Beneficiary:
By: _
Its:
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GOVERNMENT CODE 27361.7
I CERTIFY UNDER PENALTY OF PERJURY THAT THE
NOTARY SEAL ON THE DOCUMENT TO WHICH THIS
STATEMENT IS ATTACHED READS AS FOLLOWS:
NAME OF NOTARY: CHRISTINE V. SIEGEL
DATE COMMISSION EXPIRES : DECEMBER 22, 2006
COUNTY WHERE BOND IS FILE: ORANGE COUNTY
COMMISSION NO.: 1391300
MA~ NUFACTURER/VENDOR NO: NNA1
PLACE OF EXECUTION: IRVINE, CA.
DATE: , 2004
SIGNATURE: ~~, I~
h i l~ At~ U I I I LE