HomeMy WebLinkAboutA8573-A RICHARD E LEE & SHIRLEY M LEE CHICAGO TILE CO.2020-0372370
08/14/2020 12:41 PM Fee: $ 0.00
Page 1 of 17
Recorded in Official Records
RECORDING REQUESTED BY
County of Riverside
Peter Aldana
r
AND WHEN RECORDED RETURN TO:
Assessor -County Clerk -Recorder
I l
I 111CITY
OF PALM SPRINGS
�`IrJ �
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HOUSING SUCCESSOR AGENCY
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3200 East Tahquitz Canyon WaywriS
'y
Palm Springs, California 92262
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Attn: CITY CLERK-
ry
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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 with Assignment of Rents as Additional
Security dated May 6, 2004 with RICHARD E. LEE AND SHIRLEY M. LEE, HUSBAND AND
WIFE AS JOINT TENANTS, as Trustor, and CHICAGO TITLE COMPANY, a California
Corporation, as Trustee, with such Deed of Trust being recorded on June 19, 2004, as Instrument
No. 2004-0374180 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, May 6, 2004 secured by the Deed of Trust, with Trustor,
RICHARD E. LEE AND SHIRLEY M. LEE, HUSBAND AND WIFE AS JOINT TENANTS, 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 0-7 601 7'ozo CITY OF PALM SPRINGS, a California charter city
A ing as the Housing Successor Agency AS a9FICIF}f-y
Approved as to form: YTKVSrE7
BY -
David H. Ready, Esq., Ci anager
A EST:
K
thony J. , C1 y Clerk
PROVED BY cnY COUNCL
CAS 10-�- 05-'
1209632.1
CALIFORNIA• • • •
..a ...a_�asa .ca_sa.ee_.�a.cue_�•.a...�<..�es�•..�e...a.cesea,Rs�..ee.c�e.e�a...e.c�e..�es�a.�es�es. s..� .aas�a_se.ca..� _s�e.c�es�a...a_saa.ae_...ae_s. .
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the
document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
State of California
County of ►Z`sjer����
On before me,
Date Here l sert Name and Thle of the Officer
personally appeared ae P� y ,
Name
who proved to me on the basis of satisfactory evidence to be the persoq*�'whose nameKigVere✓
subscribed to the within instrument and acknowledged to me that 4&sheAhey executed the same in
&�hrefmreir authorized capacity(ie j, and that bye/4@n4heir signaturet*yon the instrument the persori,(ej,,
or the entity upon behalf of which the persory( Acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws
of the State of California that the foregoing paragraph
is true and correct.
WITNESS my nd and official seal.
ANTHONY JOSEPH MEJIA
�� Notary Public - California
,-: Los ArtpelesCour > Signature
Commission '-2197083 Signatu lic
M Comm. E ires Jun 10. 2021
Place Notary Seal Above
OPTIONAL
Though this section is optional, completing this information can deter alteration of the document or
fraudulent reattachment of this form to an unintended document.
Description of Attached Document
Title or Type of Document:
Document Date:
Signer(s) Other Than Named Above:
Capacity(ies) Claimed by Signer(s)
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Individual ❑ Attorney in Fact
❑ Trustee ❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
Number of Pages:
Signer's Name:
❑ Corporate Officer — Title(s):
❑ Partner — ❑ Limited ❑ General
❑ Individual ❑ Attorney in Fact
❑ Trustee ❑ Guardian or Conservator
❑ Other:
Signer Is Representing:
5'ri4�5'ri4'✓5�•y4'✓4�4'✓4'✓5'✓.'✓5�5�4'✓i✓5'•v5'✓4�5�5'✓�•ei4'y5'� ••✓.'s •� •✓ •✓4'y'.v4'✓5'✓5'.v5'.vi.v5'✓5'ci5`:.5'✓5�'.'A'. �5v�.
EXHIBIT "A"
ALL THAT CERTAIN LAND SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF
RIVERSIDE, CITY OF PALM SPRINGS DESCRIBED AS FOLLOWS:
PARCEL NO.1:
UNIT 237 AS SHOWN AND DEFINED ON THAT CERTAIN CONDOMINIUM PLAN RECORDED
JULY 24. 2003 AS INSTRUMENT NO.2003-554908. OFFK141 RECORDS OF RIVERSIDE
COUNTY.
PARCEL NO.2:
AN UNDIVIDED 1/377 INTEREST IN AND TO LOT 1 OF TRACT NO.28087, AS SHOWN ON A
MAP RECORDED IN BOOK 338, PAGES 39 AND 40.OF MAPS, RECORDS OF SAID
COUNTY, STATE OF CAUIFORNIA. TOGETHER WITH ALL IMPROVEMENTS THEREON,
EXCEPTING THEREFROM CONDOMINIUM UNITS 1 THROUGH 377, INCLUSIVE, LOCATED
THEREON.
ALSO EXCEPTING THEREFROM EXCLUSIVE EASEMENTS APPURTENANT TO EACH UNIT
FOR THE USE AND OCCUPANCY OF THOSE PORTIONS OF THE EXCLUSIVE USE
COMMON AREA DESIGNATED IN THE DECLARATION OF RESTRICTIONS RECORDED
JULY 24. 2003 AS INSTRUMENT NO.2003.55 7 OFFICIAL RECORDS OF RIVERSIDE
COUNTY AND SHOWN ON THE CONDOMINIUM PLAN FOR EACH UNIT.
PARCEL NO.3:
AN EXCLUSIVE EASEMENT APPURTENANT TO EACH UNIT FOR THE USE AND
OCCUPANCY OF THOSE PORTIONS OF THE EXCLUSIVE USE COMMON AREA
DESIGNATED IN THE DECLARATION OF RESTRICTIONS AND SHOWN ON THE
CONDOMINIUM PLAN FOR EACH UNIT.
PLAN NO.4:
A NON-EXCLUSIVE EASEMENT FOR USE AND ENJOYMENT OF THE COMMON AREA AS
PROVIDED UNDER THE DECLARATION OF RESTRICTMS AND THE CONDOMINIUM
PLAN.
1209632.1
LIBERTY ESCROW INC.
200 North Sunrise Way, Suite A Palm Springs, CA 92262
(760) 322-2050 FAX: (760) 322-2157
Community and Economic Development Dept
Attn: Payoff Department
Diana Shay / Annie Rodriguez
Date: June 26, 2020
Our Escrow No.: 35363-KC
Your Loan No.: 37004703
Recorded Doc No.: 2004-0374180
Good through Date of July 24
Seller Authorization Attached
Affidavit - Death of Trustee & Death Cert.
REQUEST FOR DEMAND
Ladies/Gentlemen:
An escrow has been opened in this office by Shirley M. Lee, Trustee of The Richard E. and Shirley M. Lee
Living Trust UTD February 21, 2018 wherein you are listed as the holder of the Note and Deed of Trust covering
property legally described as:
LEGAL DESCRIPTION ATTACHED HERETO AS EXHIBIT "A" AND MADE A PART HEREOF
and commonly known as: 237 Los Pinos Drive Palm Springs, CA 92264
THIS LOAN IS TO BE PAID IN FULL THROUGH THE ABOVE NUMBERED ESCROW.
Please furnish this office with the Original Note, Original Deed of Trust, signed Request for Full
Reconveyance, and your Demand for the balance due on the Note.
Thank you for your prompt attention to this matter.
Sincerely,
Kristy J. Cordell
Certified Senior Escrow Officer
Order Number; 0625-6263760
Page Number; 6
LEGAL DESCRIPTION
Real property in the City of Palm Springs, County of Riverside, State of California, described as follows:
PARCEL NO. 1:
UNIT 237, AS SHOWN AND DEFINED ON THAT CERTAIN CONDOMINIUM PLAN RECORDED JULY 24,
2003 AS INSTRUMENT NO. 2003-554906, OFFICIAL RECORDS OF RIVERSIDE COUNTY.
PARCEL NO. 2:
AN UNDIVIDED 1/377 INTEREST IN AND TO LOT 1 OF TRACT NO. 28087, AS SHOWN ON A MAP
RECORDED IN BOOK 338, PAGES 39 AND 40, OF MAPS, RECORDS OF SAID COUNTY, STATE OF
CALIFORNIA, TOGETHER WITH ALL IMPROVEMENTS THEREON, EXCEPTING THEREFROM
CONDOMINIUM UNITS 1 THROUGH 377, INCLUSIVE, LOCATED THEREON.
ALSO EXCEPTING THEREFROM EXCLUSIVE EASEMENTS APPURTENANT TO EACH UNIT FOR THE USE
AND OCCUPANCY OF THOSE PORTIONS OF THE EXCLUSIVE USE COMMON AREA DESIGNATED IN THE
DECLARATION OF RESTRICTIONS RECORDED JULY 24, 2003 AS INSTRUMENT NO. 2003-554907
OFFICIAL RECORDS OF RIVERSIDE COUNTY AND SHOWN ON THE CONDOMINIUM PLAN FOR EACH
UNIT.
PARCEL NO. 3:
AN EXCLUSIVE EASEMENT APPURTENANT TO EACH UNIT FOR THE USE AND OCCUPANCY OF THOSE
PORTIONS OF THE EXCLUSIVE USE COMMON AREA DESIGNATED IN THE DECLARATION OF
RESTRICTIONS AND SHOWN ON THE CONDOMINIUM PLAN FOR EACH UNIT.
PARCEL NO. 4:
A NON EXCLUSIVE EASEMENT FOR USE AND ENJOYMENT OF THE COMMON AREA AS PROVIDED UNDER
THE DECLARATION OF RESTRICTIONS AND THE CONDOMINIUM PLAN.
APN: 681-311-060
First American Title
Page 6of16
RECORDING REQUESTED BY:
First American Title Company
AND WHEN RECORDED MAIL TO:
Ms, Shirley M. Lee
Title Order No.: 6263760
Escrow No.: 35363-KC
I SPACE ABOVE THIS LINE FOR RECORDERS USE
AFFIDAVIT - DEATH OF TRUSTEE
State of California
County of Riverside -)SS
Shirley M. Lee, of legal age, being first duly sworn, deposes and says;
1. That Richard E. Lee, the decedent mentioned in the attached certified copy of Certificate of Death is the same
person as Richard E. Lee named as the Trustee in that certain Declaration of Trust dated February 21, 2018
executed by Richard E. Lee and Shirley M. Lee as Trustor(s).
2. At the time of the demise of the decedent, the decedent was the record owner, as Trustee, of real property
commonly known as 237 Los Pinos Drive, Palm Springs, CA 92264, which property is described in a Deed
executed by Richard E. Lee and Shirley M. Lee, as Grantor(s) recorded on February 22, 2018, as Instrument No.
2018-0066388 in book n/a Page n/a, of Official Records in the office of the County Recorder of Riverside County
Said property is shown on Exhibit "A" attached hereto.
3. 1 am the named successor Trustee under the above referenced Trust, which was in effect at the time of the
death of the decedent mentioned in paragraph 1 above, and which has not been revoked and I hereby consent to
act as such.
Signatu��Y - ✓ .�`� ated C �j``� 20 L.n
Shirle M. L e ��
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document
to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.
STATE OF California
Riverside )ss
COUNTY OF )
Subscribed and sworn to (or affirmed) before me on this 15th
day of June
2020 ,by Shirley M. Lee
proved to me on the basis of satisfactory evidence to be the person(s) who appeared before me.
Signatur �-(Seal) KRI57YY J CCO DELL
Notary Public - California z
Riverside County
Commission 9 2255351
JAY COMM. Expires Sep 19, 2022
ESCROW INC.
200 North Sunrise Way, Suite A Palm Springs, CA 92262
(760) 322-2050 FAX: (760) 322-2157
ESCROW NO.: 35363-KC
PROPERTY INFORMATION SHEET
IN ORDER TO EXPEDITE THE PROCESSING OF YOUR ESCROW, IT IS NECESSARY THAT YOU
PROVIDE US WITH THE FOLLOWING INFORMATION. PLEASE COMPLETE, SIGN AND RETURN
THIS FORM TO US AS SOON AS POSSIBLE. YOUR SIGNATURE ON THIS FORM IS DEEMED TO
BE YOUR AUTHORIZATION FOR US TO PAY LOANS)/LIEN(S) OF RECORD IN FULL PER
DEMAND(S) SUBMITTED TO ESCROW AND WITHOUT FURTHER APPROVAL REQUIRED. THANK
YOU FOR YOUR COOPERATION.
FIRST LOAN NAME OF LENDER: eT
r� ADDRESS:
Q ti(QSo`_g J6 PHONE: 1C b & FAX:
LOAN NO.1� APPROXIMATE UNPAID BALANCE$
SECOND LOAN NAME OF LENDER:
ADDRESS:
PHONE:
LOAN NO. APPROXIMATE UNPAID BALANCE$
LINE OF CREDIT LOAN NAME OF LENDER:
SEE ATTACHED FORM ADDRESS:
WHICH REQUIRES PHONE: FAX:
YOUR SIGNATURE LOAN NO.
Do you have a HERO or PACE Loan? [ ] HERO [ ] PACE
Do you have solar panels in your home? [ ] Yes ,K No
Do you lease or own them? [ ] Lease [ ] Own
THE UNDERSIGNED SELLER HEREWITH AUTHORIZES THE HOMEOWNER'S/MANAGEMENT
COMPANY TO PROVIDE ESCROW HOLDER WITH CURRENT BUDGET/FINANCIAL
STATEMENT(S), MOST CURRENT 12 MONTHS' BOARD OF DIRECTORS MEETING MINUTES, AND
ANY OTHER REQUESTED HOMEOWNER'S ASSOCIATION DOCUMENTS. THANK YOU.
HOMEOWNERS ASSOCIATION
ADDRESS:
PH0NE`I%a FAX- ,
MONTHLY MAINTENANCE FEE OR DUES $ oZ p
LAND LEASE
ADDRESS:
PHONE: FAX:
AMOUNT OF LAND LEASE $
OTHER INFORMATION THAT WILL ASSIST IN THE TIMELY CLOSING OF YOUR ESCROW
DATE1
Shirley M. Lee, Trustee of The Richard E. and Shirley
M. Lee Living Trust UTD February 21, 2018
By.
Shirley M. Lee, Tost&e
Address:
Phone Number/Fax Number:
E-Mail Address(s):
RESOLUTION NO. 1290
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA,
APPROVING PARTICIPATION IN THE CALIFORNIA MOBILE
HOME PARK RESIDENT OWNERSHIP PROGRAM (MPROP)
LOANS TO LOW-INCOME RESIDENTS OF EL DORADO MOBILE
COUNTRY ESTATES TO EFFECTUATE THE PURCHASE OF
THEIR LOTS, IN AN AGGREGATE AMOUNT NOT -TO -EXCEED
$150,000.00, AND GRANT THE EXECUTIVE DIRECTOR
AUTHORITY TO SIGN ALL ESCROW DOCUMENTS NECESSARY
TO COMPLETE THE TRANSACTIONS.
NOW THEREFORE BE IT RESOLVED by the Community Redevelopment Agency of the City of
Palm Springs that it approves participation in the California Mobile Home Park Resident
Ownership Program (MPROP) loans to low-income residents of El Dorado Mobile Country
Estates to effectuate the purchase of their lots, in an aggregate amount not to exceed $150,000,
and grants the Executive Director to sign all escrow documents necessary to complete the
transactions.
ADOPTED this a day of October, 2005.
COMMUNITY REDEVELOPMENT AGENCY
CITY OF PALM SPRINGS, CALIFORNIA
Chair '
ATTEST:
G
COMMUNITY REDEVELOPMENT A GENCY
STAFF REPORT
DATE: October 5, 2005
Agency Consent Calendar
SUBJECT: APPROVING AGENCY PARTICIPATION IN MOBILE HOME PARK
RESIDENT OWNERSHIP PROGRAM (MPROP) LOANS FOR EL
DORADO MOBILE HOME PARK UP TO A MAXIMUM OF $150,000
FROM: David H. Ready, Executive Director
BY: Community & Economic Development
SUMMARY
RECOMMENDATION:
1. Adopt Resolution No. "A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS,
CALIFORNIA, APPROVING PARTICIPATION IN THE CALIFORNIA MOBILE
HOME PARK RESIDENT OWNERSHIP PROGRAM (MPROP) LOANS TO
LOW-INCOME RESIDENTS OF EL DORADO MOBILE COUNTRY ESTATES
TO EFFECTUATE THE PURCHASE OF THEIR LOTS, IN AN AGGREGATE
AMOUNT NOT TO EXCEED $150,000, AND GRANT THE EXECUTIVE
DIRECTOR AUTHORITY TO SIGN ALL ESCROW DOCUMENTS NECESSARY
TO COMPLETE THE TRANSACTIONS.
STAFF ANALYSIS:
The City Council, as part of a supplemental understanding to a Settlement Agreement
between the City and the owner of El Dorado Mobile Home Park resolving a portion of
the litigation related to the Clty's approval of the subdivision map, agreed to have the
Community Redevelopment Agency contribute up to $500,000 toward buyer assistance
as part of the conversion of the park to condominium ownership. The park owner also
contributed $500,000. The Agency budget was amended to create the fund, though no
separate Agency action was taken to create or authorize a program to provide the
assistance.
Item No. RA3.
Community Redevelopment Agency Staff Report
October 5, 2005 -- Page 2
EI Dorado Loan Authorization
Until now, the assistance had been in the form of $5,000 loans to moderate income
buyers, per the terms of the original letter of understanding. Agency assistance was
later amended to include a "certification fee" reimbursement or assistance of $425 each
for low-income buyers or renters.
The park has received another grant of $1,500,000 In MPROP from the California
Department of Housing and Community Development for the purpose of providing loans
to help low-income buyers purchase their lots. This action is to formally allow the
Agency to make subordinate "gap" loans to the low-income buyers as part of the
MPROP loan program, and authorize the Executive Director to execute all documents
necessary to close the transactions.
FISCAL. IMPACT: Pinance Director Review
This action formally authorizes the release of $150,000 i �reviously allocated funds for
the project.
go%—�--�
Yof
aThomas ilson,
Co unity a Economic Development Assistan City Manager
i
y
d
David H. Ready, City Waina
Attachments:
RLUORDING REQUESTED
CHICAGO TITLE COMFY
AND WHEN RECORDED MAIL TO
'COMMUNITY & ECONOMIC DEV. DEPT7
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS
3200 E. TAQUITZ CANYON WAY
PALM SPRINGS, CA. 92262
DOC Z004-0374100
l '19/2004 08:00A F ee:22.00
Page 1 of 3
Recorded in Official Records
County of Riverside
Gary L. Orso
Assessor, County Clerk & Recorder
1111111111111111111111111111111111111111111111111111111
M $ U PAGE SIZE Dq PCOR NOCOR SAff MISC.
L J I
Escrow No. 37004703
Order No.
A R L COPY LONG REFUND NCNG
DEED OF TRUST WITH ASSIGNMENT OF RENTS AS ADDITIONAL SECURITY
This DEED OF TRUST, made this 6th day of May, 2004
- ,between
RICHARD E. LEE AND SHIRLEY M. LEE, HUSBAND AND WIFE �
AS JOINT TENANTS
herein called TRUSTOR, whose address is
CHICAGO TITLE COMPANY, a California Corporation
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, Arein dBODYSTEE,and
CORPORATE AND PUBLIC
herein called BENEFICIARY, Trustor irrevocably grants, transfers and assigns to Trustee in Trust, with Power of Sale
that property in the city of Palm Springs County RIVERSIDE
California, described as:
Legal description attached hereto and made a part
hereof by reference•as "Exhibit A."
Together with the rents, issues and profits thereof, subject, however, to the right, power and authority hereinafter given to and conferred upon
Beneficiary to collect and apply such rents, issues and profits.
For the Purpose of Securing (1) payment of the sum of $ _ _ _ _ _ _ _ _ _
promissory. note or notes of even date herewith made by Trustor, pus 0, pay ble to order of Beneficiary, and extensionsroest thereon r renewalsording otthe he thereof; (2)othe
performance of each agreement of Trustor incorporated by reference or contained herein or reciting it is so secured; (3) Payment of additional sums
and interest thereon which may hereafter be loaned to Trustor, or his successors or assigns, when evidenced by a promissory note or notes reciting
that they are secured by this Deed of Trust.
DT1PG1-08/08/94bk Page 1
Escrow No:
To protect the security of this Deed of Trust, and with respect to the property above described, Trustor expressly makes
agreements, and adopts and agrees
to perform and
be bound by each and all of the terms and
each and
all of the
Fictitious Deed of Trust referenced herein, and it is
mutually
agreed that
provisions set
all of the provisions set forth in subdivision
forth in subdivi
B
Won A of
that certain
Deed of Trust recorded in the book and page of Official
below
Records in the
of t
office of the county recorder of the county where
hat certain Fictitious
noted opposite the name of such county, namely:
said
property
is located,
COUNTY BOOK PAGE
COUNTY
BOOK
PAGE
COUNTY BOOK PAGE
COUNTY BOOR
PAGE
Alameda 1288 556
Kings
858
713
Placer 1028 379
Sierra
38
187
Alpine 3 130-31
Iake
437
110
Plumas 166 1307
Siskiyou
506
762
Amador 133 438
Lassen
192
367
Riverside 3778 347
Solano
1297
621
Butte 1330 513
Los Angeles
T-3878
874
Sacramento 71-10-26 615
Sonoma
2067
427
Calaveras 105 338
Madera
911
136
San Benito 300 405
Stanislaus
1970
56
Colusa 323 391
Marin
1849
122
San Bernardino 6213 768
Sutter
655
585
Contra costa 4684 1
Mariposa
90
453
San Francisco A-804 596
Tehama
457
183
Del Norte 101 549
Mendocino
667
99
San Joaquin 2855 283
Trinity
108
595
El Dorado 704 635
Merced
1660
753
San Luis Obispo 1311 137
Tulare
2530
108
Fresno 5052 623
Modoc
191
93
San Mateo 4778 175
Tuolumne
177
160
Glenn 469 76
Humboldt 601 83
Mono
69
302
Santa Barbara 2065 881
Ventura
2607
237
Imperial 1189 701
Monterey
Napa
357
704
239
Santa Clara 6626 664
Yolo
769
16
Inyo 165 672
Nevada
363
742
94
Santa Cruz 1638 607
Yuba
398
693
Kern 3756 690
Orange
7182
18
Shasta 800 633
San Diego Series 5 Book 1964,
Page 149774
shall inure to and bind the parties hereto, with respect to the property above described. Said agreements, terms and provisions contained in said
subdivisions A and B, (Identical in all counties) are printed on the following pages hereof, and are by the within reference thereto, incorporated
herein and made a part of this Deed of Trust for all purposes as fully as if set forth at length herein, and Beneficiary may charge for a statement
regarding the obligation secured hereby, provided the charge thereof does not exceed the maximum allowed by laws.
The undersigned Trustor, requests that a copy of any notice of default and any notice of sale hereunder be mailed to him at his address
hereinbefore set forth.
STATE OFCAUFORNIA ichard E. Lee
COUNTY OF -RIVERSIDE
} S.S.
On before me,
><r ey e
a ary Public i and for said County and State, personally appeared
pe%aeAaAy known to FRa (or proved to me on the basis of satisfactory evidence) (A�ftl(��NCE CRAIC7
to be the person(s) whose name(s)4s/are subscribed to the within instrument
and acknowledged to me that4ie/ekte/they executed the same in 4+is/leer/their = Commission # 1387855 z
authorized capacity(ies), and that by Ws/ger/their signature(s) on the Notary Public California ;
instrument the person(s), or the entity upon behalf of which the person(s) Riverside County
acted, executed the instrument. My Comm. Expires Nov28,2006
WITNESS my hand and official seal.
N Sl TU E (THIS AREA FOR OFFICIAL NOTARIAL SEAL OR STAMP)
'PG2-OB/0a/94bk Page 2
EXHIBIT "A"
DESCRIPTION
ALL THAT CERTAIN LAND SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF
RIVERSIDE, CITY OF PALM SPRINGS DESCRIBED AS FOLLOWS:
PARCEL NO. 1:
UNIT 237 AS SHOWN AND DEFINED ON THAT CERTAIN CONDOMINIUM PLAN RECORDED
JULY 24, 2003 AS INSTRUMENT NO. 2003-554906, OFFICIAL RECORDS OF RIVERSIDE
COUNTY. E
PARCEL NO.2:
AN UNDIVIDED 1/377 INTEREST IN AND TO LOT 1 OF TRACT NO. 28087, AS SHOWN O
MAP RECORDED IN BOOK 338, PAGES 39 AND 40, OF MAPS, RECORDS OF SAID N A COUNTY, STATE OF CALIFORNIA, TOGETHER WITH ALL IMPROVEMENTS THEREON
EXCEPTING THEREFROM CONDOMINIUM UNITS 1 THROUGH 377, INCLUSIVE, LOCATED
THEREON.
ALSO EXCEPTING THEREFROM EXCLUSIVE EASEMENTS APPURTENANT TO EACH UNIT
FOR THE USE AND OCCUPANCY OF THOSE PORTIONS OF THE EXCLUSIVE USE
COMMON AREA DESIGNATED IN THE DECLARATION OF RESTRICTIONS RECORDED
JULY 24, 2003 AS INSTRUMENT NO.2003-554907 OFFICIAL RECORDS OF RIVERSIDE
COUNTY AND SHOWN ON THE CONDOMINIUM PLAN FOR EACH UNIT.
PARCEL NO.3:
AN EXCLUSIVE EASEMENT APPURTENANT TO EACH UNIT FOR THE USE AND
OCCUPANCY OF THOSE PORTIONS OF THE EXCLUSIVE USE COMMON AREA
DESIGNATED IN THE DECLARATION OF RESTRICTIONS AND SHOWN ON THE
CONDOMINIUM PLAN FOR EACH UNIT.
PLAN NO.4:
A NON-EXCLUSIVE EASEMENT FOR USE AND ENJOYMENT OF THE COMMON AREA AS
PROVIDED UNDER THE DECLARATION OF RESTRICTIONS AND THE CONDOMINIUM
PLAN.
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
Date: May 6, 2004
237 Los Pinos Drive, Palm Springs, CA 92264
Palm Springs, California
FOR VALUE RECEIVED, the undersigned, RICHARD E. LEE and SHIRLEY M.
LEE, ("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 Five Thousand Dollars
($5,000.00), together with interest thereon at three percent (3%) per annum commencing
date of signature May 6. 2004 ("Interest Accrual Commencement Date').
1. Repayment by Maker. This is a deferred loan. Unless the conditions of
Section 8 of this Promissory Note Secured by Deed of Trust ("Note") are met ("Due on
Sale; Due on Encumbrance"), the Maker will not make payments on this Note. Instead,
simple interest in the amount of three percent (3%) per annum shall accrue on the 15a'
day of each calendar month after the Interest Accrual Commencement Date until the end
of the term of the Note that shall be 10 years from the date of execution.
2. Repayment. This Note may be prepaid in whole or in part at any time without
penalty. If the Maker has not sold, entered into a contract of sale, assigned, transferred
or disposed of all or any portion of any interest in the property which is subject to the
"Deed of Trust" by the end of the term of this note (ten years from date of execution) then
the entire indebtedness including all accrued interest shall be forgiven by Holder. In the
event the property is sold to an approved, income -qualified buyer, the Holder may assign
the Note to the buyer with a new ten (10) year term.
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 City of Palm Springs, 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.
4. Acceleration of Obligation. Meeting the terms described on Section 8 of this
Agreement through sale, transfer, or encumbrance or otherwise described or in the event
of default under the Deed of Trust or Loan Agreement, 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.
5. 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.
6. Waivers by Maker. Maker and all endorsers, guarantors and persons liable or
to become liable on this Note waive presentment, protest and demand, notice of protest,
demand and dishonor and nonpayment of this 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
Promissory Note �F 4 'a SEE
El Dorado Mobile Country Club Page 1 of 1
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security described in any documents securing this Note released in whole or in part, or
increased, changed or exchanged 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.
7. 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 the subject of the
Deed of Trust to a non -income -qualified buyer as approved in writing by the Holder then,
or at any time thereafter, Holder, at its option, may declare the entire indebtedness
evidenced hereby immediately due and payable. In the event the property is sold to an
approved, income -qualified buyer, the Holder may assign the Note to the buyer with a
new ten (10) year term.
8. 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 provisions or circumstances, and all
provisions hereof, in all other respects, shall remain valid and enforceable.
9. Modifications. Neither this Note nor any term hereof may be waived,
amended, discharged, modified, changed or terminated orally; not 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.
10. No Waiver by Holder. No waiver of any breach, defaults or failure of
condition under the terms of this Note of the Deed of Trust or the obligation secured
thereby shall be implied from any failure or delay of the Holder of this Note to take action
with respect to such breach, default or failure.
11. Usury. Notwithstanding any provision in this 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.
12. 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.
ichard E. Lee
Shirley M.
Promissory Note
El Dorado Mobile Country Club
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