HomeMy WebLinkAboutA8586A - MARGIE KIRKWOOD & FIDELITY NATIONAL TITLERECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
CITY OF PALM SPRINGS
HOUSING SUCCESSOR AGENCY
3200 East Tahquitz Canyon Way
Palm Springs, California 92262
Attn: CITY CLERK
2021-0204324
04/01/2021 11:25 AM Fee: $ 0.00
Page 1 of 28
Recorded in Official Records
County of Riverside
Peter Aldana
Assessor -County Clerk -Recorder
E110.111 Ndh 19.1111
W. W, fil V
SUBSTITUTION OF TRUSTEE AND FULL RECONVEYANCE
WHEREAS the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM
SPRINGS, California, a public body, corporate and politic ("Redevelopment Agency"), is the
named Beneficiary under that certain Deed of Trust dated October 18, 2001 with MARGIE
KIRKWOOD, as Trustor, and FIDELITY NATIONAL TITLE INSURANCE COMPANY, as Trustee,
with such Deed of Trust being recorded on October 25, 2001, as Instrument No. 2001-522509 in
the Official Records, County of Riverside, California, and pertaining to that real property in the City
of Palm Springs, State of California, described as follows:
See EXHIBIT A attached hereto and incorporated herein
WHEREAS, on January 4, 2012, the City of Palm Springs, a California charter city,
approved action to and did retain the housing assets and functions previously performed by the
Redevelopment Agency and became the successor agency ("Housing Successor Agency") by
assuming all rights, powers, assets, liabilities, duties, and obligations associated with the housing
activities of the Redevelopment Agency, as provided for in California Health and Safety Code
§34173 and §34176;
WHEREAS, the City of Palm Springs, now acting solely in its capacity as the Housing
Successor Agency, is the Beneficiary under the Deed of Trust and the Holder of that certain
Promissory Note of the same date, October 18, 2001 secured by the Deed of Trust, with
Trustor, MARGIE KIRKWOOD, as Maker;
WHEREAS, the Note secured by the Deed of Trust, together with all other indebtedness
secured by the Deed of Trust, has been fully paid and satisfied;
WHEREAS, the undersigned, the City of Palm Springs as Beneficiary under the Deed of
Trust and acting solely as the Housing Successor Agency, hereby appoints and substitutes itself
as Trustee in lieu of the original Trustee therein;
WHEREAS, the undersigned, the City of Palm Springs as successor Trustee, in
accordance with the provisions of the Deed of Trust HEREBY RECONVEYS, WITHOUT
WARRANTY, TO THE PERSON OR PERSONS LEGALLY ENTITLED THERETO, all the
estate, title and interest now held by it under the Deed of Trust; and
1209632.1
IN WITNESS WHEREOF, the City of Palm Springs, acting solely in its capacity as
Housing Successor Agency has caused this instrument to be executed.
Dated 2 Z
Approved as to form:
Cit Attc n ,y
EST:
A hony J. M ji MMC, ity
CITY OF PALM SPRINGS, a California charter city
Acting as the Housing Successor Agency
r
B
David H. Ready, Es ana r
APPROVED ay cnY COUIaM
1209632.1
EXHIBIT "A"
2601 ARNICO STREET
LOT 2, TRACT 13257, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS PER
MAP RECORDED IN BOOK 110, PAGE 48 AND 49 OF MISCELLANEOUS MAPS, IN
THE OFFICE OF THE COUNTY RECORDER, OF SAID COUNTY.
1209632.1
Note to City Attorney: This Substitution of Trust and Full Reconveyance is to be
recorded for loan of $25,000 under the Neighborhood Revitalization program
approved by the City Council acting as Community Redevelopment Agency on
September 15, 1999. The loan/promissory note was recorded on October 25,
2001 and was a forgivable loan amortized over a period of ten years. The
borrower refinanced in March of 2011 and at that time, the unamortized portion
of the loan was $2,591.87 which was paid to the City thus resulting in a zero
balance owed.
have attached copies of these documents. This reconveyance will remove the
lien from the property. If you require additional documentation or clarification,
let me know.
Diana Shay
x-8260
TO.
FROM. -
REQUEST FOR TREASURER'S RECEIPT
Finance Department, Cashier Date: March 10, 2011
Marina Karas, Housing Programs Assistant H
Community & Economic Development Department
PLEASEACCEPT $2,591.87
FROM.- PRC NOR CAL DIVISION OF PLACER TITLE C
City National Trust Account
800-542-4113
Rocklin, CA 95765
FOR: Community Revitalization Loan Payoff
Name:
Address:
(Check #97875)
To Account: 8382-37113
Margie Kirkwood
2061 Arnico Street, Palm Springs
n ORIGINAL CHECK HAS A COLORED BACKGROUND PRINTED ON CHEMICAL REACTIVE PAPER n
PRC NOR CAL DIVISION OF PLACER TITLE C. City National Bank
Cityy National Trust Account Specialty Deposits
800-542-4113 One Centerpointe Drive
5828 LONETREE BLVD. Suite 160
ROCKLIN, CA 95765 La Palma, CA 90623
Escrow No.: 2301-42744
PAY *** Two Thousand Five Hundred Ninety One and 87/100 Dollars ***
TO City of Palm Springs
THE
ORDER 3200 E. TAHQUITZ CANYON WAY
OF PALM SPRINGS, CA 92262
Memo
16-1606 Check Number
11ao 97875
DATE 1 11
AMOUNT
03-09-2011 $2,591.87
f�]
VOID AFTER 160 DAys
Two signatu a Required
THIS CHECK NEGOTIABLE ONLY NIT ROPER ENDORSEMENT
a111.OL3,-16i
n THE FACE OF THIS CHECK HAS A SECURITY VOID BACKGROUND PATTERN - DO NOT CASH IF THE WORD VOID IS VISIBLE
Date: 03-09-2011 Escrow Officer: lnoble Escrow No.: 2301-42744 Bank: NT012 Check No.: 97875
Property Address: 2061 ARNICO STREET, PALM SPRINGS, CA 92262
SeLler(s):
Buyer(s): MARGIE KIRKWOOD
Paid to: City of Palm Springs 3200 E. TAHQUITZ CANYON WAY PALM SPRINGS, CA 92262
Deactiption(s) of Amounts Paid
Amount
Description(s) of Amounts Paid
Amount
Payoff Principal Balance
2,591.87
Payee: Detach this statement before depositing.
$2,591.87
P.
MAR-02-2011 WED 01:55 PM CITY OF PALM SPRINGS FAX N0, 760 322 8325 P. 01/01
.J ,�q�rFOR4
FACSIMILE TRANSMITTAL
City of Palm Springs
Community and Economic Development Departmea.t
3?00 E. Tdlquict Canyon Way . Palm Springs, Caiifumi;l 92262
TI;L: (760) 323-8259 ' PAti (760) 532•8325 • TDD (760) t 64-9537
Community Rcdcaclupmcm AgcnLy • Community l')cvd(g)o)coc 11inck Cram
Do.vncmvn Devcr4., c omit Ucvclapnlcnt. ' liuu3wg • Puhlir girt
,.11 al N APPROVE®
DATE: MARCH 2, 2011
TO: LiNDY NOBLE, ESCROW OFFICER FAX #: 916-782-0915
PREMIER REVERSE CLOSINGS TELEPHONE #: 800-542-4113
FROM: MARINA KARASJ FAX #: 760 322-8325
HOUSING PROGRAMSASSIST NT 11 TELEPHONE #: 760 323-8264
1 PAGES (INCLUDING COVERSHEET)
RE: ESCROW M 2301-42744
MARGIE KIRKWOOo, 2061 ARNICO STREET, PALM SPRINGS, CA 92262
PER YOUR REQUEST FOR DEMAND OF FULL PAYOFF OF THE LOAN FROM THE CITY OF PALM SPRINGS
COMMUNITY REDEVELOPMENT DEPARTMENT IS $2,591.87 WHICH IS GOOD UNTIL MARCH 15, 2011.
PLEASE CONTACT ME IF YOU NEED ADDITIONAL INFORMATION.
MAR. 2,2011 12:32PM PREMIER REVERSE
PRC
PRUIIl11EF! �` Yi�Et$� �'rLtISIHGS
DNMOWa�iVA'�ONLtLCtRf�Ili��40WK1011►
amrree arf �ioSr�t+ae c�es�►
City of Palm Springs
Community Redevelopment Agency
CLOSINGS
IG CIo5ivt`7�
AO. 511&ii
619s
• '
Date: February 10 2011
Please direct correspondence to'
6828 LONETREE BLVD.,
ROCKLIN, CA 95765
Phone: 800-842.4113
Fax: 916-782-0915
Escrow Number. 2301-42744-
Your Number:
SSN: 263.68.0954
Borrower. MARGIE KIRKWOOD
Property Address:
2061 ARNICO STREET
PALM SPRINGS, CA 92262
PH: 760-323-8260
FX; 760-322-8325 � h4olf
Clocd
f
�
Attn: Payoff Dept Ufm
Request for. PAYOFF GOOD FOR 30 DAYS OR PAID IN FULL LETTER 311AS111
Statement of Please forward your beneficiary's statement showing the present condition of said loan together
Condition with Information as to any fire insurance you hold in connection with same.
Assumption package for new buyer.
X Demand for Please forward said demand together for payment In full on the loan and property
Full Payoff referenced herein.
In reference to: DEED OF TRUST TO SECURE AN INDEBTEDNESS OF $25,000.00, DATED OCTOBER 18, 2001
RECORDED OCTOBER 25, 2001, AT 8:00 A.M. AS DOCUMENT NUMBER INSTRUMENT NO.2001-522509, BOOK
(NIA), PAGE (NIA), OFFICIAL RECORDS.
TRUSTOR: MARGIE KIRKWOOD, AN UNMARRIED WOMAN
TRUSTEE: FIDELITY NATIONAL TITLE INSURANCE COMPANY
BENEFICIARY: CITY OF PALM SPRINGS
LOAN NO.: NOT SHOWN
Please fax a copy of your Statement to: Fax No. 916.782-0916
Please consider this your 30-day notice of intent to request payoff.
Please provide us with a payoff statement in writing. NCS/PTC is acting as settlement agent for a real estate
transaction In which the reference loan will be paid In full. The payoff statement should cover all amounts owing plus
fees necessary to provide us with a signed and notarized full release in recordable form.
ff the subject property is located in the State of California, the above request is made pursuant to provisions of
Seotion 2943 of the California Civil Code. All fees as provided therein shall be paid upon your compliance with said
provisions.
Sincerely,
Lindy Noble
Escrow Officer
preoaydem
Print Story
Page 3 of 3
Sept.2009
$265.16
$236.02
$29.14
$6,418.33
$6,758.10
Oct.2009
$265.16
$237.01
$28.16
$6,446.49
$6,521.09
Nov.2009
$265.16
$237.99
$27.17
$6,473.66
$6,283.10
Dec.2009
$265.16
$238.98
$26.18
$6,499.84
$6,044.12
Jan. 2010
$265.16
$239.98
$25.18
$6,525.02
$5.804.14
Feb. 2010
$265.16
$240.98
$24.18
$6,549.21
$5,563.16
Mar. 2010
$265.16
$241.98
$23.18
$6,572.39
$5,321.17
April 2010
$265.16
$242.99
$22.17
$6,594.56
$5,078.18
May 2010
$265.16
$244.00
$21.16
$6,615.72
$4,834.18
June 2010
$265.16
$245.02
$20.14
$6,635.86
$4,589.15
July 2010
$265.16
$246.04
$19.12
$6,654.98
$4,343.11
Aug. 2010
$265.16
$247.07
$18.10
$6,673.08
$4,096.04
Sept. 2010
$265.16
$248.10
$17.07
$6,690.15
$3,847.95
Oct. 2010
$265.16
$249.13
$16.03
$6,706.18
$3.598.82
Nov. 2010
$265.16
$250.17
$15.00
$6,721.17
$3,348.65
Dec. 2010
$265.16
$251.21
$13.95
$6,735.13
$3,097.44
Jan. 2011
$265.16.
$252.26
$12.91
$6,748.03
$2,845.18
Feb. 2011
$265.16
$253.31
$11.85
$6,759.89
$2,591.87
Mar. 2011
$265.16
$254.36
$10.80
$6,770.69
$2,337.51
April 2011
$265.16
$255.42
$9.74
$6,780.43
$2,082.08
May 2011
$265.16
$256.49
$8.68
$6.789.10
$1,825.59
June 2011
$265.16
$257.56
$7.61
$6,796.71
$1,568.04
July 2011
$265.16
$258.63
$6.53
$6,803.24
$1,309.41
Aug. 2011
$265.16
$259.71
$5.46
$6,808.70
$1.049.70
Sept. 2011
$265.16
$260.79
$4.37
$6,813.07
$788.91
Oct. 2011
$265.16
$261.88
$3.29
$6,816.36
$527.03
Nov. 2011
$265.16
$262.97
$2.20
$6,818.55
$264.06
Dec. 2011
$265.16
$264.06
$1.10
$6,819.65
$0.00
Location of article:
http://www.ba nkrate.com/calculators/mortgages/mortgage-calculator.aspx
V
rye.
httn://www.h.gnkrate cnm/svctPmA1til/nrint .. i-1 Ii1ninn> >
Print, Story Page 2 of 3
April 2005
$265.16
$189.34
$75.82
$3,614.71
$18,008.16
May 2005
$265.16
$190.13
$75.03
$3,689.75
$17,818.03
June 2005
$265.16
$190.92
$74.24
$3,763.99
$17,627.11
July 2005
$265.16
$191.72
$73.45
$3,837.44
$17.435.39
Aug.2005
$265.16
$192.52
$72.65
$3,910.08
$17.242.88
Sept. 2005
$265.16
$193.32
$71.85
$3,981.93
$17,049.56
Oct. 2005
$265.16
$194.12
$71.04
$4,052.97
$16,855.43
Nov.2005
$265.16
$194.93
$70.23
$4,123.20
$16,660.50
Dec.2005
$265.16
$195.75
$69.42
$4,192.62
$16.464.76
Jan.2006
$265.16
$196.56
$68.60
$4,261.22
$16.268.20
Feb.2006
$265.16
$197.38
$67.78
$4,329.01
$16.070.82
Mar. 2006
$265.16
$198.20
$66.96
$4,395.97
$15.872.61
Apn12006
$265.16
$199.03
$66.14
$4,462.10
$15.673.59
May 2006
$265.16
$199.86
$65.31
$4,527.41
$15,473.73
June 2006
$265.16
$200.69
$64.47
$4,591.88
$15,273.04
July 2006
$265.16
$201.53
$63.64
$4,655.52
$15,071.51
Aug.2006
$265.16
$202.37
$62.80
$4,718.32
$14,869.15
Sept. 2006
$265.16
$203.21
$61.95
$4,780.27
$14,665.94
Oct. 2006
$265.16
$204.06
$61.11
$4,841.38
$14,461.88
Nov.2006
$265.16
$204.91
$60.26
$4,901.64
$14.256.98
Dec.2006
$265.16
$205.76
$59.40
$4,961.04
$14.051.22
Jan.2007
$265.16
$206.62
$58.55
$5,019.59
$13,844.60
Feb.2007
$265.16
$207.48
$57.69
$5,077.28
$13,637.12
Mar. 2007
$265.16
$208.34
$56.82
$5,134.10
$13,428.78
April2007
$265.16
$209.21
$55.95
$5,190.05
$13,219.57
May 2007
$265.16
$210.08
$55.08
$5,245.13
$13,009.49
June 2007
$265.16
$210.96
$54.21
$5,299.34
$12,798.53
July 2007
$265.16
$211.84
$53.33
$5,352.67
$12,586.69
Aug.2007
$265.16
$212.72
$52.44
$5.405.11
$12.373.97
Sept. 2007
$265.16
$213.61
$51.56
$5,456.67
$12,160.37
Oct. 2007
$265.16
$214.50
$50.67
$5,507.34
$11,945.87
Nov.2007
$265.16
$215.39
$49.77
$5,557.11
$11,730.48
Dec.2007
$265.16
$216.29
$48.88
$5,605.99
$11.514.20
Jan.2008
$265.16
$217.19
$47.98
$5,653.96
$11,297.01
Feb.2008
$265.16
$218.09
$47.07
$5,701.03
$11,078.91
Mar. 2008
$265.16
$219.00
$46.16
$5,747.20
$10,859.91
April 2008
$265.16
$219.91
$45.25
$5,792.45
$10.640.00
May 2008
$265.16
$220.83
$44.33
$5,836.78
$10,419.17
June 2008
$265.16
$221.75
$43.41
$5,880.19
$10,197.42
July 2008
$265.16
$222.67
$42.49
$5,922.68
$9,974.74
Aug.2008
$265.16
$223.60
$41.56
$5,964.24
$9,751.14
Sept. 2008
$265.16
$224.53
$40.63
$6,004.87
$9,526.61
Oct. 2008
$265.16
$225.47
$39.69
$6,044.57
$9,301.14
Nov.2008
$265.16
$226.41
$38.75
$6,083.32
$9,074.73
Dec. 2008
$265.16
$227.35
$37.81
$6,121.13
$8,847.38
Jan.2009
$265.16
$228.30
$36.86
$6,158.00
$8.619.08
Feb.2009
$265.16
$229.25
$35.91
$6,193.91
$8.389.83
Mar. 2009
$265.16
$230.21
$34.96
$6,228.87
$8,159.62
Apri12009
$265.16
$231.17
$34.00
$6,262.87
$7.928.45
May 2009
$265.16
$232.13
$33.04
$6,295.90
$7,696.32
June 2009
$265.16
$233.10
$32.07
$6,327.97
$7,463.23
July 2009
$265.16
$234.07
$31.10
$6,359.07
$7,229.16
Aug.2009
$265.16
$235.04
$30.12
$6.389.19
$6,994.12
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Print Story
Page 1 of 3
aCve,In�Zr- q
Refi Rates Hit
3.21 %
-
ILA
APR'- t
t
t
*dick for Terms 8, Conditions 30 year
20 year 15 year
10 year
$125,000
Loan for
$175,000
Loan for
$250,0040
Loan for
$350,000
Loan for
�Rate Marketplace � fixed rates
fixed rates fixed rates
fixed rates
$652`/mo.
$913*1mo.
$1,304`/rna.
$1,826*Imo.:
Bankrute.com
- ,
Comprehensive. o
Amortization table for $25,000.00 borrowed on Dec 15, 2001
Month / Year
Payment
Principal
Interest
Total
Balance
Paid
Paid
Interest
Jan.2002
$265.16
$161.00
$104.17
$104.17
$24,839.00
Feb.2002
$265.16
$161.67
$103.50
$207.66
$24.677.33
Mar. 2002
$265.16
$162.34
$102.82
$310.48
$24,514.99
April2002
$265.16
$163.02
$102.15
$412.63
$24,351.98
May 2002
$265.16
$163.70
$101.47
$514.10
$24.188.28
June 2002
$265.16
$164.38
$100.78
$614.88
$24,023.90
July 2002
$265.16
$165.06
$100.10
$714.98
$23,858.83
Aug.2002
$265.16
$165.75
$99.41
$814.39
$23,693.08
Sept. 2002
$265.16
$166.44
$98.72
$913.11
$23,526.64
Oct. 2002
$265.16
$167.14
$98.03
$1,011.14
$23,359.50
Nov.2002
$265.16
$167.83
$97.33
$1,108.47
$23.191.67
Dec.2002
$265.16
$168.53
$96.63
$1,205.11
$23,023.14
Jan.2003
$265.16
$169.23
$95.93
$1,301.03
$22,853.91
Feb.2003
$265.16
$169.94
$95.22
$1.396.26
$22.683.97
Mar. 2003
$265.16
$170.65
$94.52
$1,490.78
$22,513.32
April 2003
$265.16
$171.36
$93.81
$1,584.58
$22,341.96
May 2003
$265.16
$172.07
$93.09
$1.677.67
$22,169.89
June 2003
$265.16
$172.79
$92.37
$1.770.05
$21.997.10
July 2003
1$265.16
$173.51
$91.65
$1,861.70
$21,823.59
Aug.2003
$265.16
$174.23
$90.93
$1,952.63
$2t,649.36
Sept. 2003
$265.16
$174.96
$90.21
$2.042.84
$21,474.40
Oct. 2003
$265.16
$175.69
$89.48
$2,132.32
$21,298.71
Nov.2003
$265.16
$176.42
$88.74
$2,221.06
$21,122.29
Dec.2003
$265.16
$177.15
$88.01
$2.309.07
$20,945.14
Jan.2004
$265.16
$177.89
$87.27
$2,396.34
$20,767.25
Feb.2004
$265.16
$178.63
$86.53
$2,482.87
$20,588.61
Mar. 2004
$265.16
$179.38
$85.79
$2,568.66
$20,409.24
April2004
$265.16
$180.13
$85.04
$2,653.70
$20,229.11
May 2004
$265.16
$180.88
$84.29
$2,737.98
$20,048.23
June 2004
$265.16
$181.63
$83.53
$2.821.52
$19,866.60
July 2004
$265.16
$182.39
$82.78
$2.904.30
$19,684.22
Aug.2004
$265.16
$183.15
$82.02
$2.986.31
$19,501.07
Sept. 2004
$265.16
$183.91
$81.25
$3.067.57
$19,317.16
Oct. 2004
$265.16
$184.68
$80.49
$3,148.06
$19,132.49
Nov.2004
i
$265.16
$185.45
$79.72
$3,227.77
$18,947.04
Dec.2004
$265.16
$186.22
$78.95
$3,306.72
$18,760.82
Jan.2005
$265.16
$186.99
$78.17
$3.384.89
$18,573.83
Feb.2005
$265.16
$187.77
$77.39
$3,462.28
$18,386.06
Mar.2005
$265.16
$188.56
$76.61
$3,538.89
$18,197.50
httn://www.bankrate_com/SVCtem/11t1Unt' nt 1)ii ni,)nt t
CITY OF PALM SPRINGS COMMUNITY REDEVELOPMENT AGENCY
NEIGHBORHOOD REVITALIZATION PROGRAM
This Agreement is to obtain a Loan under the provision of the Palm Springs Community
Redevelopment Agency's ("Agency') Neighborhood Revitalization Program. Under the Program,
the Agency makes available Grants and Loans to very low, low and moderate income households
for property improvements. The Community Redevelopment Law ("CRL") authorizes the Agency
to use housing fund monies to increase, improve, and preserve housing available to very low, low
and moderate - income persons. You will be required to show proof of income and the number
of persons in the household to qualify for the Loan. The Program is specifically provided for
those property owners who occupy their homes now and intend to occupy their homes for no less
than ten (10) years.
I, Margie Kirkwood, am the owner of a single-family dwelling unit located at 2061 Arnico
Street, Palm Springs, CA 92262 ("Property").
2. 1 hereby apply for a Loan in the approximate amount of $25,000.00 to provide financial
assistance to make interior and exterior improvements to the Property as described on the
Agency's Work Write -Up Form.
3. 1 hereby authorize the Agency or its designee, to verify ownership of the Property, and
obtain a credit report only for the purpose of confirming that there are no defaults recorded
on the Property that will affect my ownership of the Property.
4. 1 certify (or declare) under penalty of perjury under the laws of the State of California that
the family household income at the I time I applied did not exceed $18,830.00.
5. There are three people living within my household.
6. 1 intend to occupy my home for the next ten (10) years. 1 understand that if 1 sell the
Property within the ten-year term, the remaining balance of the Grant or Loan shall
become due and payable immediately with interest at the rate of Five Percent (5%). For
example: On a $10,000 loan, the homeowner is entitled to $1,000 credit per year of
occupancy. If the homeowner sells Property in the V" year, $5,000 plus accrued interest
shall become immediately due and payable to the Agency. If I sell the Property at any time
within the ten-year term to another income qualified home buyer subject to Agency's
approval, then that buyer may assume the remaining balance for a new combined term of
fifteen (15) years (the sum of my term and the qualified buyer's term will commence upon
such sale).
Page 1 of 2
7. 1 shall indemnify and hold harmless, the City of Palm Springs ("City') and the Agency, the
City Council, the Agency Board of Directors, its officers, agents, employees and
independent contractors free and harmless from any liability whatsoever based and
asserted upon any act or omission of the City and Agency for property damage, bodily
injury, or death or any other element of damage of any kind or nature, relating to or in any
way connected with my participation in the Program.
IMPORTANT. APPLICANT READ BEFORE SIGNING:
► I certify that the above statements are true and accurate to the best of my
belief. This application shall remain the property of the Agency.
understand that a condition of receiving the Loan is to agree to keep my
property clear of weeds, trash, rubbish and debris, and if I fail to keep the
property clean, the Agency may clean my property at my expense. I
understand that if I do not pay the cost of clean up within thirty (30) days, a
lien shall be recorded against my property for the cost of clean up and
administrative costs, and the Agency may collect, in full, the remaining
balance of the Loan as set forth in Paragraph 6.
We understand that we must provide the Agency with proof of homeowners
insurance to receive funds pursuant to the Agreement. Such insurance
shall be kept in effect during the term of this Agreement and shall not
be cancelable without thirty (30) days' prior written notice of the
proposed cancellation to the Agency, as Holder of Certificate.
► I understand that the selection of a dealer or contractor and the acceptance
of the material used and the work performed is my responsibility, and the
Agency is not a party to my agreement with the dealer or contractor and does
not guarantee the quality of workmanship of the property improvements.
► I understand that the Loan is in the approximate amount of $ $25,000.00,_and
the Agency does not warrant that it will pay all costs of improvements.
Property Owner Signature:
--Ie� /D
Margie)Kirkwood
City of Palm Springs
Redevelopment Agency Neighborhood Revitalization Program Page 2 of 2
COMMUNITY REDEVOOPMENT AGENCY OF THE CITY PALM SPRINGS
TRUTH IN LENDING DISCLOSURE DEFERRED LOAN
CITY OF PALM SPRINGS DATE: 10/18/2001
3200 TAHQUITZ CANYON WAY
PALM SPRINGS, CA 92262 LOAN AMOUNT $ 25,000.00
LOAN #
NAME OF BORROWER(S) MARGIE KIR10900D
ADDRESS: 2 0 61 ARNICO STREET
PALM SPRINGS, CA 92262
ANNUAL FINANCE AMOUNT
PERCENTAGE CHARGE FINANCED
RATE The dollar amount The amount of credit
The cost of your credit the credit will cost provided to you or on
as a yearly rate. you your behalf.
5.000%
TOTAL OF
PAYMENTS
The amount you will have
paid after you have made
all payments as scheduled.
The total amount of principal and accrued interest will be due and payable in full
when your legal interest, or any part of your interest in the property is sold,
transferred or conveyed, whether voluntarily or involuntarily. You may make one
payment per calendar year, if you choose, to reduce the amount of your loan. Any
payment made shall be applied to reduce interest owed, and then to principal
amount of the loan.
THIS LOAN WILL NOT BE EXTENDED BEYOND THE DUE DATE AND THERE IS NO ASSURANCE
THAT FINANCING WILL BE AVAILABLE FROM ANY SOURCE AT THAT TIME.
OWNER OCCUPANCY: THIS LOAN REQUIRES THAT YOU REMAIN THE OWNER OCCUPANT OF
THE PROPERTY SECURING THE LOAN,
PREPAYMENT: IF YOU PAY OFF EARLY, YOU WILL NOT HAVE TO PAY A PENALTY.
SECURITY: YOU ARE GIVING A SECURITY INTEREST IN REAL PROPERTY LOCATED
AT: 2061 ARNICO STREET, PALM SPRINGS, CA 92262
INSURANCE: YOU MAY OBTAIN PROPERTY INSURANCE FROM ANYONE THAT IS ACCEPTABLE
TO THE STATE.
ASSUMPTION: YOUR LOAN IS NOT ASSUMABLE, IN WHOLE OR IN PART, BY ANYONE
ACQUIRING AN INTEREST IN THE PROPERTY, EXCEPT THAT YOUR SPOUSE MAY ASSUME THE
LOAN IF HE OR SHE ACQUIRES AN INTEREST, OR A FURTHER INTEREST, IN THE
PROPERTY AS A RESULT OF THE DEATH OR THE DISSOLUTION OF YOUR MARRIAGE.
See your contract documents for any additional information about nonpayment, default, any required repayment in full before the scheduled date, and
prepayment penalties.
E- MF,ANS AN F.STiMATF,
RECORDING REQUESTED BY:
Esuvw No.
Title Order No. 1017417
When Recorded Mail Document To:
CITY OF PAL[ SpFMW
court 1111T1f TjMz%1 Oar Mnrtc.'Ir
3100 TMOTs'1'Z CANYCH MY
PALL smni m i, CI► 92262
APN�-4'7 4 - 0 0 2 SPACE ABOVE
DOC 0 2001-602606
10/25/z®M1 " :tom Fee:20.e4
Pape 1 of 3
Recorded in Official Records
County of Riverside
Gary L. Ora*
Ms..ser, County Clerk i Recorder
I�IVI�I��RN���WIIVY�I
SHORT FORM DEED OF TRUST AND ASSIGNMENT OF RENTS
THIS DEED OF TRUST, made OatobeT 18, 2001 between
MARGIE KIRKWOOD, AN UNIMARRIED WOMAN MG
herein called TRUSTOR, whose address is 2061 ARNICO STREET
PALM SPRIPiog, CALYFORNIA 92262
and FIDELITY NATIONAL TITLE INSURANCE COMPANY
herein called TRUSTEE, and
CITY OF PALM SPRINGS
herein called BENEFICIARY.
70
WITNESSETH: ThatTrtetotiRREVOCABLE GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER
OF SALE, that property in RIVERSIDE County, California, described as:
LOT 2, TRACT 13257, COUNTY OF RIVERSIDE, STATE OF
CALIFORNIA, AS PER MAP RECORDED IN BOOK 110, PAGE 48 AND 49
OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY
RECORDER, OF SAID COUNTY.
TOGETHER WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority given to and
conferred upon Beneficiary by paragraph (10) of the provisions incorporated herein by reference to collect and apply such rents, issues
and profits.
For the Purpose ofSecurittg: 1. Performance ofeach agreemento(TruStor incorporatedby reference or contained herein. 2. Payment
of the indebtedness evidenced by one promissory note of even date herewith, and any extension or renewal thereof, in the principal
sum of S 2 5 , 0 0 0.0 0 executed by Trustor in favor of Beneficiary or order. 3. Payment of such further stuns as the then
record owner of said property hereafter may borrow from Beneficiary, when evidenced by another note (or notes) reciting it is so
secured.
FIDELITYNATf OL"LEWOURANCE0VANY
W RE'NDED Ws ujST04iutiT f�E�? 1$
AN ACCOMMODiA?O ONLYGNO tM NOT W p 1
IT FOR REGULARRAND SUMDENCY OR A:s io 1 ES
EFFECT UPON THE TITLE TO ANY REALPRopoly
INATMAYIEDE$UM 1KREMI,
FD-221 B (Rev. 9/94) SHORT FORM DEED OF TRUST Page 1
SHORT FORM DEED OF TRUST AND ASSIGNMENT OF RENTS
THIS DEED OF TRUST, made OatobeT 18, 2001 between
MARGIE KIRKWOOD, AN UNIMARRIED WOMAN MG
herein called TRUSTOR, whose address is 2061 ARNICO STREET
PALM SPRIPiog, CALYFORNIA 92262
and FIDELITY NATIONAL TITLE INSURANCE COMPANY
herein called TRUSTEE, and
CITY OF PALM SPRINGS
herein called BENEFICIARY.
70
WITNESSETH: ThatTrtetotiRREVOCABLE GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER
OF SALE, that property in RIVERSIDE County, California, described as:
LOT 2, TRACT 13257, COUNTY OF RIVERSIDE, STATE OF
CALIFORNIA, AS PER MAP RECORDED IN BOOK 110, PAGE 48 AND 49
OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY
RECORDER, OF SAID COUNTY.
TOGETHER WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority given to and
conferred upon Beneficiary by paragraph (10) of the provisions incorporated herein by reference to collect and apply such rents, issues
and profits.
For the Purpose ofSecurittg: 1. Performance ofeach agreemento(TruStor incorporatedby reference or contained herein. 2. Payment
of the indebtedness evidenced by one promissory note of even date herewith, and any extension or renewal thereof, in the principal
sum of S 2 5 , 0 0 0.0 0 executed by Trustor in favor of Beneficiary or order. 3. Payment of such further stuns as the then
record owner of said property hereafter may borrow from Beneficiary, when evidenced by another note (or notes) reciting it is so
secured.
FIDELITYNATf OL"LEWOURANCE0VANY
W RE'NDED Ws ujST04iutiT f�E�? 1$
AN ACCOMMODiA?O ONLYGNO tM NOT W p 1
IT FOR REGULARRAND SUMDENCY OR A:s io 1 ES
EFFECT UPON THE TITLE TO ANY REALPRopoly
INATMAYIEDE$UM 1KREMI,
FD-221 B (Rev. 9/94) SHORT FORM DEED OF TRUST Page 1
APN: 677-670-002
To Protect the Security of the Deed offrust, By the execution and delivery of this Deed of trust and the note secured
hereby, that provisions (1) to (14), inclusive, of the rwilitious dcW of trust recorded in Santa Barbara County and Sonoma County
October 1 & 1961. and in all other counties October 23,1961, in the book and at the page of Official Records in the office of the county
recorder of the county where said property is located, doted below opposite the name of such county, viz:
COUNTY
BOOK
PAGE
COUNTY
BOOK
PAGE
COUNTY
BOOK
PAOF
COUNTY
BOOK
PAGE
Alameda
435
694
Kings
792
833
Planer
995
301
Sierra
29
335
Alpine
1
250
1 ,&-
362
39
PI®as
151
5
sisbyau
469
181
Amador
104
348
Lass"
171
471
Riverside
3005
523
solano
1105
192
Butte
1145
1
Los Angeles
TM55
8"
saerameato
4331
62
Sonoma
Iasi
$99
Calavem
145
152
Madera
$to
170
inaenito
271
383
Stanislaus
171S
436
Coluse
296
617
Maria
1508
339
San Bernardino
5567
61
Sutter
572
297
Contra Costa
3978
47
Maripasa
77
292
San Francisco
A332
905
Tehama
401
299
Del None
78
414
Meadociao
379
560
San Joaquin
2470
311
Trinity
93
393
El Dorado
569
456
Meroed
1547
339
San Luis Obispo
1151
12
Tulare
2294
27S
Fresno
4626
572
Modoe
I94
851
San Mateo
4079
420
Tuolumne
135
47
(ilena
422
184
Mona
52
429
Saw Barbara
1879
160
Ventura
2062
3%
Humboldt
657
527
Monterey
2194
532
Santa Clara
5336
341
Yeto
653
245
hnperW
1091
501
Napa
639
86
Sao" Cruz
1431
494
Yuba
334
486
lnyo
147
598
Nevada
305
320
Shasta
684
528
Korn
3427
60
Orange
S889
611
San Diego Series
2 Boot 1961. Pape 113197
which provisions, identical in all counties, (printed on the attached unrecorded pages) are hereby adopted and incorporated herein
and made a part hereof as fully as though set forth herein at length; that Trustor will observe and perform said provisions; and that
the references to property, obligations andparties in said provisions shall be construed to refer to the property. obligations. and parties
set forth in this Deed of Trust.
The undersigned Trustor request that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to him at his address
hereinbefore set forth.
STATE OF CALIFORNIA
COUNTY OF,'�LF.O 5/f
ON before me,
rY d 4 &4 7— (1, tt -s.CrS/Cl-S
a Notary Public in and for said County and State, personally
appeared 4 4& Csi% Fff
r proved to me on the basis of
satisfactory evidence) to be the person(flwhose name(*
is / we subscribed to the within instrument and acknowledged
to me that4w/ she /tom executed the same in hip / her / theis-
authorized capacity(Wvh and that by J+iv/ her / tdtr i
signature(t) on the instrument the personal, or the entity
upon behalf of which the person( -acted, executed the
y
Signature of Trustor
instrument.
�n
L"ip
Nlift" C
1� 01111a
Witness my hand and official seal.
►�errtw 6�lMet�rM
Signature !
milli 1111111111,111111, 1"VeNI
2 of 3
FD-221 B (Rev. 9194) SHORT FORM DEED OF TRUST Page 2
PENALTY OF PERJURY FOR NOTARY SEAL
(GOVERIYNMNT 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:
DATE CONMSSION EXPIRES. ��-� • 'I), , D-UOv'
COUNTY WHEFLE BOND LS FILED (if applicable): L i V Q t 5
STATE Va-MRE BOND IS FILED: CA
CO'?vWSSION NUMBER (if applicable): 5 Ci
t �
PLACE OF EXECUTION: c NJ /51� -
(CrrY & STATE)
DATE:
SIGNATURE:
U -,s--0
. -4- - A�7 D _ -
PRINTNAME: .CQ kK�Lh
FIDELITY NATIONAL TITLE COMPANY
HAS RECORDED THIS INSTRUMENT BY REQUEST AS
AN ACCOMODATION ONLY AND HAS NOT EYAMNED
IT FOR REGULARITY AND SUFFICIENCY OR AS TO ITS
EFFECT UPON THE TITLE TO ANY REAL PROPERTY
THAT MAY BE DESCRIBED THEREIN.
DO NOT DESTROY THIS NOTE: When paid, this Note, with the Deed of Trust securing same, must be surrendered
to trustee for cancellation before re -conveyance will be made.
PROMISSORY NOTE SECURED BY DEED OF TRUST
October 18, 2001 Palm Springs, CALIFORNIA
2061 ARNICO STREET, PALM SPRINGS, CA 92262
[PROPERTY ADDRESS]
FOR VALUE RECEIVED, the undersigned,
MARGIE KIRKWOOD
("Maker") hereby promises to pay to the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM
SPRINGS, a public agency, corporate and politic ("Holder"), at a place designated by Holder, the principal sum of
7WEMY FIVE TBOCTSM AND N0/100 -------------------------------------------------------
Dollars ($ 25,000.00 ), together with interest thereon at five percent (5%) per annuni commencing
December 1, 2001 ("Interest Accrual Commencement Date").
1. Repayment by Maker. This is a deferred loan. Unless the conditions of Section 8 of this note are met ("Due
on Sale; Due on Encumbrance"), the Maker will not make payments on this note. Instead, interest in the amount of
five percent (5%) per annum shall accrue on the 15th day of each calendar month after the Interest Accrual
Commencement Date until principal and interest have been fully amortized. On the anniversary date of the Interest
Accrual Commencement Date, an amount equal to ten percent (10%) of the original principal and the interest accrued
over the previous twelve-month period, shall be forgiven by the Agency.
2. Repayment. This Note may be prepaid in whole or in part at any time without penalty.
3. Note Secured by Deed of Trust. This Note is secured by a Deed of Trust and Assignment of Rents of even
date herewith, encumbering certain real property located in the County of Riverside, State of California, more
particularly described therein, and any other instruments, now or hereafter executed by Maker in favor of Holder,
which in any manner constitute additional security for this Note ("Deed of Trust").
4. Late Charge. Maker agrees that if Maker fails to make any payment provided for herein more than ten (10)
days after the due date thereof, it would be impractical or extremely difficult to fix the actual damages resulting
therefrom to Holder, and therefore, Maker hereby agrees to pay to Holder a late charge equal five percent (5%) of any
payment which is not made within ten (10) days after the due date thereof, not as a penalty, but for the purpose of
defraying the expenses incident to handling such delinquent payment. Such late charge represents the reasonable
estimate of a fair average compensation for the loss that may be sustained by Holder due to the failure of Maker to
make timely payments. Such late charge shall be paid without prejudice to the right of Holder to collect any other
amount provided to be paid or to declare a default under this Note or the Deed of Trust securing same. Such late charge
shall be payable not later than thirty (30) days after the due date or the delinquent payment and shall be secured by
the Deed of Trust.
5. Acceleration of Obligation. Upon the failure to make payment of any installment due under this Note as and
when the same become due and payable (whether by extension, acceleration or otherwise), or in the event of default
under the Deed of Trust, or any breach of any other promise or obligation in this Note or in any other instrument now
or hereafter securing the indebtedness evidenced hereby, then, and in any such events, Holder may, at its option,
declare this Note and the entire indebtedness hereby evidenced, including, without limitation, all accrued interest, to
be immediately due and payable and collectible then or thereafter as Holder may elect, regardless of the date of
maturity, and notice of the exercise of said option is hereby expressly waived by Maker.
6. Collection Costs: Attorneys' Fees. If this Note is not paid when due, whether at maturity or by acceleration,
Maker promises to pay all costs of payment hereof or enforcement of any guarantee, incurred by Holder on account
of such collection, whether or not suit is filed hereon.
7. Waivers by Maker. Maker and all endorsers, guarantors and persons liable or to become liable on the Note
waive presentment, protest and demand, notice of protest, demand and dishonor and nonpayment of the note and
consent to any and all renewals and extensions near the time of payment hereof and agree further that at any time and
from time to time without notice, the terms of payments herein may be modified or the security described in any
document securing this Note released in whole or in part, or increased, changed or exchanged by agreement between
Holder and any owner of the premises by agreement between Holder and any owner of the premises affected by said
documents securing this Note, without in any way affecting the liability of any party to this Note or any persons liable
or to become liable with respect to any indebtedness evidenced hereby.
8. Due on Sale: Due on Encumbrance. In the event Maker shall, directly or indirectly, voluntarily or
involuntarily, sell, enter into a contract of sale, assign, transfer or dispose of all or any portion of any interest in the
property which is subject of the Deed of Trust without obtaining Holder's prior written approval, then, or at any time
thereafter, Holder, at its option, may declare the entire indebtedness evidenced hereby immediately due and payable.
9. Severability. The unenforceability of invalidity of any provision or provisions of this Note as to any persons
or circumstances shall not render that provision or those provisions unenforceable or invalid as to any other provision
or provisions or circumstances, and all provisions hereof, in all other respects, shall remain valid and enforceable.
10. —Modifications. Neither this Note nor any term hereof may be waived, amended, discharged, modified,
changed or terminated orally; nor shall any waiver of any provision hereof be effective except by an instrument in
writing signed by Maker and Holder. No delay or omission on the part of the Holder in exercising any right hereunder
shall operate as a waiver of such right or any other right under this Note.
11. No Waiver by Holder. No waiver of any breach, defaults or failure of condition under the terms of the Note
of the Deed of Trust or the obligation secured thereby shall be implied from any failure of the Holder of the Note to
take, or any delay be implied from any failure by the Holder in taking action with respect to such breach, default or
failure.
12. Usury. Notwithstanding any provision in the Note, Deed of Trust or other document securing same, the total
liability for payment in the nature of interest shall not exceed the limit now imposed by applicable laws of the State
of California.
13. Governing Law. This Note has been executed and delivered by Maker in the State of California securing
same, the total liability for payment in the nature of interest shall not exceed the limit now imposed by applicable laws
of the State of California.
IN WITNESS WHEREOF, Maker has executed this Note as of the date and year first above written.
nzi-Fix in-mr," �1
DATE: SEPTEMBER 15, 1999
TO: COMMUNITY REDEVELOPMENT AGENCY
FROM: CDBG/HOUSING COORDINATOR VIA
DIRECTOR OF ECONOMIC DEVEL OPM1E NT
CREATION OF AN AGENCY -FUNDED SINGLE-FAMILY HOME REHABURATION
GRANT & LOAN PROGRAM FOR LOW- AND MODERATE -INCOME OWNER
OCCUPANTS IN THE CITY OF PALM SPRINGS
noN:
It is rwxn reended that the Agency approve the creation of a rehabilitation program for
fidkime owner occupants of single family hoaxes in the City of Patin Springs.
BACKGROUND:
Community Redevelopment Agency staff is proposing the creation of a program of grants and
de&rred loans to fill -time homeowners in the City of Palm Springs for the purpose of
r ir38 singlo-fm*, owner -occupied homes.
Several priority areas, in addition to the ten redevelopment project areas, have been idenfified for
the program, though all income -qualified homeowners in the City ofPalm Springs are egble for
the program. Theredevelopmentprojectaress are listedbelow, but the AirportNase Cone Area
and the City's "Remptu re our Neighborhood" areas have also been identified. (Two of these
areas are also Redevelopment project areas, but a third is the areagerierally south ofRamonRoad
betweenPahn Can)onDrive and Warm Sands.) Staffwiill develop a program prep stowing more
specie boundaries. The Conmauuty Redevelopment Agency project area include:
Central Business Disbic t Tahquitz-Andreas Ra xvi--Bogie
South Palm Canyon Oasis North Palm Canyon
I�ighlatd-Gatevvay Baristo-Farrell Project Area No. 9
Canyon Project
The eligible population for the program is identified below:
Ownw-occupants of single family homes (name must appear on title)
Full-time Palm Springs resident
No rerdal properties fin addition to proofof ownership, must sign affidavit of oempancy)
No second -tones (subject to Metroscan or Dataquick search)
Must fill within very low, low, and moderate income ranges (5019, W/o,120% of median
mcomikrespectively)
In addition to the income- and ownerstn[religNlity requirements, the program also has some
general requirements and restrictions for all great and loan recipients.
1. All applicants must meet income and ownership eligibility criteria identified above.
2. All projects (grants and loans) are subject to a recorded property maintenance
covenant.
3. All applicants in AirportNoiseProgtamarea must sign"Non Suit Covenant Avigation
Easenme required by Airport Noise Mitigation Program
4. Mobile homes are only eligible for "Low Doc" grant program with $5,000 limit
5. No equity nor minunum home value is required, however, maidmum hone value is
FHA cap to prevent loans to "unaffordable" homes
cria - C
CX410G,0�w
Since the program is aimed at very low -,low , and moderat& income fandlmmk it is important
to note that these income guidelines are provided by the U.S. Department ofEhL*W &
Urban Devdopmad for the Rive an Bernardino County areas, and thus are slightly
ftvorable (higher) than the Pahn Spnnss area. TU "moderate income" category, for
eommnple, mdudes a sigmScant number offimiTies m Palm Springs. Asa result, a family off m
can have a gross income of $56,650 and still be eligible for the program The fidowing are
the 1999 Income El4ibility Guidelines for Palm Springs:
FAMILY
SIZE
VERY LOW
INCOME
50% ofMedian
LOW INCOME
8019 ofNWmn
MODERATE
INCOME
120'/o ofMedian
16,5W
26,450
39,650
18,900
30,200
45,300
21,250
34,000
51,000
4
23,600
37,750
56,650
5
25,500
40,800
61,200
¢
27,400
43,8W
65,700
7
29,250
46,8W
70,250
8
31,150
49,850
74,800
PROGRAM DESCRIPTIONS
GRANTS
There are many good reasons for the program to make grants for the rehab of single family
homes: grants are less threatening to marry homeowners, especially seniors, and in the cases
of homes that need very small amounts of assistance, a grant is a ranch less restrictive tool to
use than a kmn. However, Redevelopment Law limits the size of the grants the Agency can
make and, in the case of the huger grants, does not allow it to make completely unrestricted
grants. Therefore, there are two separate grant categories.
In addition, all gram and loans will record a property maintenance covenant requiring the
owner to maintain the exterior of the property in acceptable condition, for 5 years (in the case
of grants) or 10 years (n the case of loans).
"Low Doe" Grant Progmm
Grants up to $5,000 will be available to very krvw and low-income, owner -occupied
households. Moderate income farm'Ges are not eligible for this level of assistance. No resale
restrictions on the home are necessary, though a property maintenance covenant is required.
Basic household income and homeowner qualification (as well as affidavit of occupancy) will
be performed (no need for in depth check). The City's Construction Superintendent will be
used to assure work quality and sign off on the contractor invoice, The Contactor will
receive a lump sun payment. At least 20% of the gram amount (up to $1,000) must be used
for eaderior improvements, such as debris removal, repainting, or landscaping.
Very low or low-moome mobile home owners are only efiguble for the Low Doc Program,
though the $1,000 exterior improvement requirement is waived.
Larger Grants Up to $10,000
AD eligible fimilies or individuals (very low, low, or moderate income) may apply for this
prol3riun.which providesimprove merkgrutsofupto S10,000. lAw the LowDocprogram,
20% of the grant ammmt must be used for cderior improvements such as debris removal,
painting, or landscapug m additiQ% a property mainteoar" covenant is required. These
grants have a 5 year resale rion, i.e. the owner is restricted to reselling the home to
another incoamoV alified buyer during the five year period or must repay the ear ahurg
bahm ofthegrant, mducl%acomW interest. The grant will accrue interest at 5%, but will
be Emoven over the five year period. Slightly drffa+ent &turn the ban programs, a new areome-
qualified buyer is only responsible Sor the rernaming balance as well as the remaining term. No
additional restrictions (e.g. additional years) are placed on the property at the time of resale.
The a!£ordablity restric tmm is for five years only, regardless of the number of owners that
property b as during that period.
All project assistance over $10,000 must be part of the rehab ban program. Loans will be
made as deferred (silent) loons, amortized over aten year period. No payment willbe required
on the part of participants during the tern of the ban, provided other conditions are met.
Loan is forgiven if homeowner remains as owner -occupant during tam of loan. Mwdmmt
loan amounts are 525,000 for all applicants, but the "accrued httermr will vary according to
the applicant's income level, and whether the applicant fives in a priority neighborhood. The
ban amounts and corresponding interest rates are:
Household Income
moRiTY'&EAS
MMR AREAS:
Very Low or Low Income
(Wls of median or below)
$25,000
$25,000
00%)
(4°A)
Moderate Income (between
M and 120% of median)
$25,000
$25,000
Loan Restrictions
There is a resale restriction placed on all bans: Sale or transfer of the home during the ban
tam requires it to W sold to an income qualified household (Le. the original loan hober must
UM to an equivalart income qualified household, i.e., a low income household must sell to a
very low or low income household; a moderate income household must sell to a moderate
income [or less] household). The "loans" will be amortized over a period of 10 years.
However, the affordability restriction will placed on the home for a period of 15 years, with
one exception: if the original participating owner lives in the house contir mx* for the 10
years, the affordability covenant is released at the end of 10 years when than loan is Rdly
amortized.
Fthe house is sold prior to the release of the affordability covenant, the new buyer ma be
income qualified. Ifthe newbu yer is not iu>come qualified, the remaining balance must be paid
through the escrow. Uthe new buyer is income qualified, anew agreement not to exceed l0
years will be entered into for the balance due. The new buyer's loan term, in nearly all cases,
will be less than 10 years. Here's an example:
Homeowner A enters the program and receives the maximum loan of S25,00%
which is recorded and amortized over a 10 year period At the end of 5 years (60
Cra"'COW-1
CrA IV C owl
momhsj she sells the house to a couple who are not income qualified. The
balance due to the Agency, paid through the escrow, wig be $13,434.58.
Homeowner B, also receives a $25,000loan on the same terms. He sells his house at the
end of 5 years (60 monthal but to an income-qualifieftnily insbevA The new buyerthen
vocutes a new 10 year agreement with the Agency for the $13,434.58 bdimm
If property is transfixred within the farmily (e g. upon death of the homeowner) 6noonne
qua6�Ca . is AM required. If farmly member does not qualify, payment of mote is due.
APPLICATION SCORING
Should there be a large volume of applications during the initial start-up ofthe program, staff bn
developed and Application Scoring Worbheet that ranks applications by household- and project
need, as well as the C'ity's- and Agency's neighborhood revkaCrzation priorities, Each application
will be assigned a numerical score based on the following ateria, with the highest scoring
Wficatim Amded first. Each question below has a range of pose" scores. An the scores in
the fast three categories are added, and then multiplied by the relevarrt score in the final two
dories, income and ownership ('urc uft "0" for not gualified). Any Wbca* that does not
receive a "0" score (i.e. is not income qualified or does not own the home) is at least minimally
quaffed for assistance.
Neigiborhood Impact
Was the home pre -identified by the City for participation in the program?
Are there homes on the same street that are also in need of
Is the lame in one of the targeted areas, such as the Airport Noise area or a
redevelopment project area?
Overall, what impact would the improvement ofthis house have on the street?
Is the home in a statistically under -represented priority area?
Scope of Work
Are there major much" defects that could corrected by this program?
Are there significant code violations that could be corrected by this program?
Does it appear that there may be lead paint: in the home?
Is there a need of extensive exterior rehabilitation and/or cleanup?
Is there a need to install1repair an evaporative doles?
Is there a need to repair/replace air conditioning uni ?
Is there a need for security screen doors or windows?
Is there a need to replacelurstall block walls?
Are there disabled access issues in the home?
Borrower QuaCrfication
Would the owner qualify fix an additional programs (erg Airport Noise Program)?
Is the applicant a senior c itizet?
Is the appG= disabled or claim to be disabled?
What is the age of the house?
Does the borrower own other propety(ies)?
Absolute Eligibility Requirements
Income Level of the Borrower
Homeowner Status
The initial fiubbg for the program shall be $1,000,000, fim the ford balance of the
LowAW housing Program Based on the w6dpatted mix of $5,000, $10,000, and
$25,000 p *cts, the $1,000,000 could assist neariy 100 kwwovvnm in the first year.
Ifthe of
�ovwMwhnmg samosas, staff may retum to dw Amy for m
it
�!7�scg�;O-1 of
^ WYTT, PE D.
/ l Diector Devdopm"
2. Budget Amendment • f i
RESOLUTION NO. 1082
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA, AMENDING THE
BUDGET FOR THE 1999-00 FISCAL YEAR.
WHEREAS Resolution 1066 approving the budget for the fiscal year
1999-00 was adopted on June 9, 1999; and
WHEREAS the Executive Director has recommended, and the Agency
desires to approve, certain amendments to said budget;
NOW THEREFORE BE IT RESOLVED that the Director of Finance is
authorized to record inter -fund cash transfers as required in
accordance with this Resolution, and that Resolution 1066, adopting
the budget for the 1999-00 fiscal year is hereby amended as
follows:
SECTION 1. ADDITIONS
FUND
Activity
Account
Amount
No.
882
Single -Family
New
$110001000
Rehab Program
Title:
Tahquitz-
Andreas Low -Mod
Purpose:
Creation of Single -Family Rehab Program for Low -Mod Homeowners
SECTION 2. SOURCE
FUND
Activity
Account
Amount
No.
882
2930
$1,000,000
Title:
Tahquitz-
Fund Balance
Andreas Low -Mod
Adopted this 15th day of September , 1999.
AYES: Members, Barnes, Hodges, Oden, Reller-Spurgin and Chairman Kleindienst
NOES: None
ABSENT: None
ATTEST:
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITT OF PALM SPRINGS
By
Assistant Secretary Chairman
REVIEWED AND APPROVED AS TO FORM
colngec-O&
RESOLUTION NO. 1081
OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, CALIFORNIA, CREATING THE PALM
SPRINGS NEIGHBORHOOD REVITALIZATION PROGRAM, A
REHABILITATION PROGRAM FOR LOW- AND MODERATE -
INCOME OWNER -OCCUPIED SINGLE FAMILY HOMES IN THE
CITY OF PALM SPRINGS
--------------
WHEREAS in accordance with Section 33334.2 of California Redevelopment Law (hereinafter "CRL')
redevelopment agencies must establish a housing fund by setting aside twenty percent (200/*) of tax
increment generated from project areas to increase and improve communities' supply of affordable housing
for persona of low or moderate income; and
WHEREAS, redevelopment agencies may spend housing fluid monies to, among other things, rehabilitate
buildings or structures; and,
WHEREAS the City and Redevelopment Agency seek to provide more affordable housing throughout the
City, preserve affordable housing stack throughout the City, and maintain the community's supply of
mobile homes; and
WHEREAS, Section 33334.2(g) authorizes redevelopment agencies to spend housing Smd monies either
within or outside the project area if the City Council and the Redevelopment Agency find that the
provision of affordable housing finds outside the project area benefit the project area; and,
WHEREAS, the Neighborhood Revitalization Program (hereinafter "Program') helps the Agency flatfill its
requirements under the AB 1290 Implementation Plan, as well as assists the City meet the goals of its
HUD Consolidated Plan; and
WHEREAS, the Program is offered in all redevelopment project areas within the City; and,
WHEREAS, the Palm Springs Community Redevelopment Agency wishes to extend the Program to low
and moderate income homeowners who live in areas outside of project areas giving priority to the Airport
Cone Noise Area and the City's "Recapture Our Neighborhood" areas and secondarily to the remaining
portion of the City; and,
WHEREAS, there are numerous benefits to the project areas by extending the Program to areas that are
non -project areas in that, currently, there are ten project areas within the City and the project areas are
either directly adjacent to a non -project area or within a project area's sphere of influence; and,
WHEREAS, the Program conforms to the General Plan of the City of Palm Springs, including, but not
limited to, the City's Housing Element
NOW THEREFORE, the Community Redevelopment Agency of the City of Palm Springs, California,
does hereby resolve the following:
SECTION I. That the Neighborhood Revitalization Program, for the purpose of providing assistance to
low- and moderato -income owner occupants of single family homes in Palm Springs for
property improvements, is hereby established.
SECTION 2. Program assistance is limited to owner occupants of single family homes in the City of
Palm Springs that meet the income guidelines for "Very Low," "Low," and "Moderate"
income, as set forth by the U.S. Department of Housing & Urban Development for the
Palm Springs area or for the Riverside/San Bernardino County area
SECTION 3. Pursuant to CRL 33334.2(g), the Community Redevelopment Agency hereby finds that
the provision of affordable housing funds outside Agency project areas will be of benefit
to the project areas because the funds will be utilized to provide more affordable housing
opportunities within the City, preserve affordable housing stock throughout the City, and
maintain the community's supply of mobile homes.
R1081
Page 2
(L ('6, - C -20.
SECTION 4. Notwithstanding the establishment of the Program pursuant to this resolution and the
program implemmAstion criteria developed by the Agency, the allocation of Program
assistance to any applicant shall be at the discretion of the Community Redevelopment
Agency. Nothing in the guidelines or in this resolution requires the Agency to allocate
funds to any applicant
SECTION 5. Assistance to homeowners shall be in the form of grants or deferred loans. The type of
assistance shall be solely determined by the dollar amount of the projecL
SECTION 6. All Program participants shall enter into a recorded Property Maintenance Covenant with
the Agency for a period of not less than five (5) years.
SECTION 7. AU Program participants receiving more than $5,000 in assistance shall enter into a
recorded Property Affordability Agreement with the Agency of not less than five (5) years.
SECTION 8. Notwithstanding the Agency's findings that the use of housing funds outside the
redevelopment project area is appropriate and beneficial to the project areas, additional
consideration in the application process will be made for applicants who live in the ten
project areas, as well as those in the Airport Noise Cone area and the City's "Recapture
Our Neighborhoods" areas.
SECTION 8. The Agency reserves the right to score and prioritize applications based on borrower
qualification, scope of work, and neighbodlood impact, as we] I as prioritize improvements
in a home based on the Agency's established criteria for the Program.
SECTION 9. The findings and determinations set forth herein shall be deemed final and conclusive.
SECTION 10. The Executive Director or his designee are authorized to sign all necessary documents in a
form approved by the Agency Counsel, including grant agreements up to $10,000 and
loan agreements up to $25,000.
ADOPTED this 15th day of September 1999
AYES: (Members Barnes, Hodges, 0den, Reller-Spurgin and Chairman Kleindienst
NOES: None
ABSENT: None
ATTEST: CON04MTY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
By
Assistant Secretary
REVIEWED AND APPROVED:
Chairman
W
January 20, 2021
City of Palm Springs
Community and Economic Development Department
3200 E. Tahquitz Canyon Way • Palm Springs, California 92262
Tel: 760.323.8259 • Fax: 760.322.8325 • TDD 760.864.9527 • www.palmspringsca.gov
VIA EMAIL: jean.burns@mtinfo.com
Jean M. Burns, Title Clearer
Mortgage Information Services
4877 Galaxy Pkwy Suite 1
Cleveland, OH 44128
Re: Margie Kirkwood
order# 1835556, State - CA, Borrower - Kirkwood, Margie Loan Number - 4002381
2061 Arnico Street
Palm Springs, CA 92262
Dear Ms. Burns:
Regarding the Community Redevelopment Agency loan to Margie Kirkwood recorded on October
25, 2001 Document No. 2001-522509, the payoff amount due is zero ($0.00).
The City of Palm Springs will provide a Substitution of Trustee and Reconveyance for recording to
Jean M. Burns of Mortgage Information Services. The documents are being prepared and will be
reviewed by City Management. Thank you for your patience while we work on obtaining the
required signatures. As soon as the fully executed documents are recorded, I will forward a copy to
you.
If you have any questions, please call me direct at (760)323-8260 or email me at
diana.shav@palmspringsca.gov.
Sincerely,
Diana Shay
Redevelopment Coordinator
Community & Economic Development Department
cc: 2061 Arnico Street Loan File
Post Office Box 2743 • Palm Springs, California 92263-2743