HomeMy WebLinkAbout00515C - EMILIO GONZALEZ REGULATORY AGR AND RELATED DOCUMENTS T��r ! f DOC # 2013-0316632
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Wand E%,i , Recorded in Official Records
� 4 L(� 2$�n La Larry W�Ward Riverside
RECORDING REQUESTED BY Assessor, County Clerk& Recorder
AND WHEN RECORDED RETURN TO:
I
CITY OF PALM SPRINGS "This documentwas electronically submitted
HOUSING SUCCESSOR AGENCY to the County of Riverside for recording—
Receipted by:SGOMEZ
3200 East Tahquitz Canyon Way
Palm Springs, California 92262 i�D5l5G
i
Attn: CITY CLERK
RELEASE OF DISPOSITION AND DEVELOPMENT AGREEMENT AND
REGULATORY AGREEMENT AND
DECLARATION OF COVENANTS AND RESTRICITONS
Property: 375 W. Palm Vista Drive, Palm Springs, California 92262
WHEREAS, the City of Palm Springs Community Redevelopment Agency ("CRA") entered into a
Disposition and Development Agreement ("DDA") with Mountain Gate II Palm Springs Ventures, LLC,
("Developer") recorded March 21, 2005, as Instrument#2005-0219028 which included property described
in Exhibit "A" attached herewith. The terms and provisions contained in the DDA have been satisfactorily
completed and the DDA is hereby released from the subject property.
WHEREAS, on April 26, 2007, Emelio A. Gonzalez ("Buyer") purchased the property described in Exhibit
"A" and entered into a Regulatory Agreement and Declaration of Covenants and Restrictions
("Declaration") with the CRA which recorded April 30, 2007, as Instrument #2007-0289619. The
Declaration was terminated by Buyer's foreclosure and Trustee's Deed Upon Sale recorded March 2,
2012, as Instrument #2012-0096534 and is hereby released from the subject property pursuant to Item
11 of the Declaration.
WHEREAS, on January 4, 2012, the City of Palm Springs approved action to retain the housing assets
and functions previously performed by the CRA and assume all rights, powers, assets, liabilities, duties,
and obligations associated with the housing activities of the CRA, as provided in California Health and
Safety Code §34173 and §34176.
NOW THEREFORE, this Release of the Disposition and Development Agreement and Release of the
Regulatory Agreement and Declaration of Covenants and Restrictions is executed at Palm Springs,
California, and made effective this day of June, 2013.
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 9,61 11 apl CITY OF PALM SPRINGS, a California charter city
Acting soley as the Housing Successor Agency
Appro led Ito form:
By:
Douglas C. Holland, City Attorney David H. Ready, City M er
ATTEST:
es Thompson, City Clerk
Nor rit1lgrGO,npan
Inland Empire1 � �1�1t
RECORDING REQUESTED BY
AND WHEN RECORDED RETURN TO:
I
CITY OF PALM SPRINGS
HOUSING SUCCESSOR AGENCY l
3200 East Tahquitz Canyon Way
Palm Springs, California 92262
I
Attn: CITY CLERK
RELEASE OF DISPOSITION AND DEVELOPMENT AGREEMENT AND
REGULATORY AGREEMENT AND
DECLARATION OF COVENANTS AND RESTRICITONS
Property: 375 W. Palm Vista Drive, Palm Springs, California 92262
WHEREAS, the City of Palm Springs Community Redevelopment Agency ("CRA") entered into a
Disposition and Development Agreement ("DDA") with Mountain Gate II Palm Springs Ventures, LLC,
("Developer") recorded March 21, 2005, as Instrument#2005-0219028 which included property described
in Exhibit "A" attached herewith. The terms and provisions contained in the DDA have been satisfactorily
completed and the DDA is hereby released from the subject property.
WHEREAS, on April 26, 2007, Emelio A. Gonzalez ("Buyer") purchased the property described in Exhibit
"A" and entered into a Regulatory Agreement and Declaration of Covenants and Restrictions
("Declaration") with the CRA which recorded April 30, 2007, as Instrument #2007-0289619. The
Declaration was terminated by Buyer's foreclosure and Trustee's Deed Upon Sale recorded March 2,
2012, as Instrument #2012-0096534 and is hereby released from the subject property pursuant to Item
11 of the Declaration.
WHEREAS, on January 4, 2012, the City of Palm Springs approved action to retain the housing assets
and functions previously performed by the CRA and assume all rights, powers, assets, liabilities, duties,
and obligations associated with the housing activities of the CRA, as provided in California Health and
Safety Code §34173 and §34176,
NOW THEREFORE, this Release of the Disposition and Development Agreement and Release of the
Regulatory Agreement and Declaration of Covenants and Restrictions is executed at Palm Springs,
California, and made effective this day of June, 2013.
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 ok. /-2 CITY OF PALM SPRINGS, a California charter city
Acting soley as the Housing Successor Agency
Approd / ��offoorrm:
By: .
no glas C. Holland, City Attorney David H. Ready, City M ger
ATTEST:
Zes Thompson,�CityClerk���
EXHIBIT A
LEGAL DESCRIPTION
Lot 117 of the Desert Highland Estates, in the City of Palm Springs, as shown by Map on file in
Book 24, Page(s) 53 and 54 of Maps, in the office of the County Recorder of Riverside County,
California.
Excepting and reserving therefrom all oil, gas, hydrocarbon substances and minerals
of every kind and character lying more than five hundred feet (500') below the surface,
together with the right to drill into, through, and to use and occupy all parts of the Site
lying more than five hundred feet (500') below the surface thereof for any and all
purposes incidental to the exploration for and production of oil, gas, hydrocarbon
substances or minerals from the Site but, without, however, any right to use either the
surface of the Site or any portion thereof within five hundred feet (500') of the surface
for any purpose or purposes whatsoever.
ACKNOWLEDGMENT OF INSTRUMENT
(Cal. Civil Code Section 1181)
State of California )
County of Riverside ) ss.
City of Palm Springs )
On June 12, 2013, before me, JAMES THOMPSON, CITY CLERK, CITY OF
PALM SPRINGS CALIFORNIA, personally appeared DAVID H. READY, who I
personally know is the CITY MANAGER of the CITY OF PALM SPRINGS whose name
is subscribed to the within instrument and acknowledged to me that he executed the
same in his official and authorized capacity on behalf of the City of Palm Springs, a
California Charter City.
I certify under PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct.
Witness my hand and the official seal of the City of Palm Springs, California, this
12`h day of June, 2013.
QVALM +
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Signatur q[/PORN\
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MES THOMPSON, CITY CLERK
City of Palm Springs, California
Title or Type of Document: Release of Disposition and Development Agreement and
Regulatory Agreement and Declaration of Covenants and
Restrictions — 375 W. Palm Vista Drive
Document Date: June 12, 2013
Ao5t5c,
RECEIVED THIS IS TO CERTIFY THAT THIS IS A FULL,
TRUE AND CORRECT COPY OF THE ORIGINAL
RECORDED IN THE OFFICE OF THE COUNTY
Recording requested by: 2011 OCT 3 1 AN 9: 12 RECORDING FEE: $27.00
Quality Loan Service Corp RECORDED ON- October 18, 2011
taliES 'iH01 t' '<
When recorded mail to: CITY CLERK AS DOCUMENT NO: 11-0457903
Quality Loan Service Corp. BY: s/Megan Blye
2141 5th Avenue LSI TITLE COMPANY
San Diego,CA 92101
TS#:CA-11-465049-LL Space above this line For Recorder's use
Order#: 1 1 04 03933-CA-GTI
APN#:669-386-004-4
IMPORTANT NOTICE
NOTICE OF DEFAULT AM ELECpN TO SELL
UNDER DEED OF TRUST
IF YOUR PROPERTY IS IN FORECLOSURE BECAUSE YOU ARE
BEHIND IN YOUR PAYMENTS, IT MAY BE SOLD WITHOUT ANY
COURT ACTION, and you may have the legal right to bring your account in good standing
by paying all of your past due payments plus permitted costs and expenses within the time
permitted by law for reinstatement of your account, which is normally five business days prior to
the date set for the sale of your property. No sale date may be set until approximately 90 days
from the date this Notice of Default may be recorded (which date of recordation appears on this
notice). This amount is $46,160.71 as of 10/13/2011 and will increase until your account
becomes current.
While your property is in foreclosure, you still must pay other obligations (such as
insurance and taxes) required by your note and deed of trust or mortgage. If you fail to make
future payments on the loan, pay taxes on the property,provide insurance on the property, or pay
other obligations as required in the note and deed of trust or mortgage, the beneficiary or
mortgagee may insist that you do so in order to reinstate your account in good standing. In
addition, the beneficiary or mortgagee may require as a condition of reinstatement that you
provide reliable written evidence that you paid all senior liens, property taxes, and hazard
insurance premiums.
Upon your written request, the beneficiary or mortgagee will give you a written itemization
of the entire amount you must pay. You may not have to pay the entire unpaid portion of your
account, even though full payment was demanded, but you must pay all amounts in default at the
time payment is made. However, you and your beneficiary or mortgagee may mutually agree in
writing prior to the time the notice of sale isf posted (which may not be earlier than three-months
after this Notice of Default is recorded) to,;among other things, (1) provide additional time in
which to cure the default by transfer of the property or otherwise; or (2) establish a schedule of
payments in order to cure your default; or both(1)and(2).
Following the expiration of the time period referred to in the first paragraph of this notice,
unless the obligation being foreclosed upon or a separate written agreement between you and
your creditor permits a longer period, you have only the legal right to stop the sale of your
property by paying the entire amount demanded by your creditor.
To find out the amount you must pay, or arrange for payment to stop the foreclosure, or if
your property is in foreclosure for any other reason, contact:
BANK OF AMERICA,N.A., SUCCESSOR BY MERGER TO BAC HOME LOANS
SERVICING, LP FKA COUNTRYWIDE HOME LOANS SERVICING LP
C/O Quality Loan Service Corp.
2141 5th Avenue
San Diego, CA 92101
619-645-7711
If you have any questions, you should contact a lawyer or the governmental agency which
may have insured your loan. Notwithstanding the fact that your property is in foreclosure, you
may offer your property for sale provided the sale is concluded prior to the conclusion of the
foreclosure.
Remember, YOU MAY LOSE LEGAL RIGHTS IF YOU DO NOT TAKE
PROMPT ACTION.
NOTICE IS HEREBY GIVEN: That the undersigned is either the original trustee, the duly
appointed substituted trustee, or acting as agent for the trustee or beneficiary under a Deed of
Trust dated 4/26/2007, executed by EMILIO A GONZALEZ , A MARRIED MAN AS HIS
SOLE & SEPARATE PROPERTY, as Trustor, to secure certain obligations in favor of
MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., AS NOMINEE FOR
COUNTRYWIDE HOME LOANS, INC. DBA AMERICA'S WHOLESALE LENDER, as
beneficiary, recorded 4/30/2007, as Instrument No. 2007-0289617, of Official Records in the
Office of the Recorder of RIVERSIDE County, California describing land therein: as more
fully described in said Deed of Trust.
Said obligations including 1 NOTE(S) FOR THE ORIGINAL sum of $185,900.00, that the
beneficial interest under such Deed of Trust and the obligations secured thereby are presently
held by the beneficiary; that a breach of, and default in, the obligations for which such Deed of
Trust is security has occurred in that payment has not been made of:
The installments of principal and interest which became due on 12/l/2008, and all subsequent
installments of principal and interest through the date of this Notice, plus amounts that are due
for late charges, delinquent property taxes, insurance premiums, advances made on senior liens,
taxes and/or insurance, trustee's fees, and any attorney fees and court costs arising from or
associated with the beneficiaries efforts to protect and preserve its security, all of which must be
paid as a condition of reinstatement, including all sums that shall accrue through reinstatement or
pay-off. Nothing in this notice shall be construed as a waiver of any fees owing to the Beneficiary
under the Deed of Trust pursuant to the terms of the loan documents.
That by reason thereof, the present beneficiary under such deed of trust, has executed and
delivered to said duly appointed Trustee, a written Declaration of Default and Demand for same,
and has deposited with said duly appointed Trustee, such deed of trust and all documents
evidencing obligations secured thereby, and has declared and does hereby declare all sums
secured thereby immediately due and payable and has elected and does hereby elect to cause the
trust property to be sold to satisfy the obligations secured thereby.
The Beneficiary or its designated agent declares that it has contacted the borrower, tried
with due diligence to contact the borrower as required by California Civil Code § 2923.5, or the
borrower has surrendered the property to the beneficiary or authorized agent, or is otherwise
exempt from the requirements of § 2923.5, Pursuant to the attached declaration incorporated
herein and made a part hereof by this reference.
Dated: OCT 1 3 2011 Quality Loan Service Corp.,Trustee
,);�:D>- -- --e-,
By:Seth Ott,Assistant Vice President �.
If you have previously been discharged through bankruptcy, you may have been released of
personal liability for this loan in which case this letter is intended to exercise the note holders
right's against the real property only.
THIS OFFICE IS ATTEMPTING TO COLLECT A DEBT AND ANY INFORMATION
OBTAINED WILL
BE USED FOR THAT PURPOSE.
As required by law, you are hereby notified that a negative credit report reflecting on your credit
record may be submitted to a credit report agency if you fail to fulfill the terms of your credit
obligations.
Baokef rnerica
Home loans
Notice Date: July 1, 2011
Account No.: 167366713
Emilio A Gonzalez
375 W Palm Vista Dr Property Address:
Palm Springs, CA 92262 375 West Palm Vista Drive
Palm Springs, CA 92262
nl `, CALIFORNIA DECLARATION
eal, Mortgage Servicing Specialist III of Bank of America, N.A.,
declare under penalty of perjury, under the laws of the State of California, that the
following is true and correct:
Bank of America, N.A.
❑ has contacted the borrower to assess the borrower's financial situation and explore
options for the borrower to avoid foreclosure,
® tried with due diligence to contact the borrower in accordance with California Civil
Code Section 2923.5, or
❑ verified that the borrower has surrendered the property.
❑ has evidence and reasonably believes that the borrower has contracted with an
organization, person, or entity whose primary business is advising people who have
decided to leave their homes on how to extend the foreclosure process and to avoid
their contractual obligations to beneficiaries.
❑ has confirmed that the borrower(s) filed for bankruptcy and the proceedings have not
been finalized to wit, there is no order on the court's docket closing or dismissing the
bankruptcy case.
❑ The provisions of Cafrfornia Civil Code§2923.5 do not apply because State Reason.
and ace
=
Name of Signor
CA-DECLARATIONS 8638Wa 8t27l2008
Quality Loan Service Corp.
2141 5th Avenue
San Diego, CA 92101
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CA-11-465049-LL
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS
CITY CLERK
3200 EAST TAHQUITZ-CANYON WAY
PALM SPRINGS,CA 92262
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DOC # 2007-0289619
04/30/2007 08:00n Fee:NC
Pagc 1 of is
Recorded in Offlcial Records;
County of Riverside
Larry N. Ward
SUBDIV SUBDIVISION
TITLECOIVlF'4NX IIIQIIiiIh1111111111111111[II(111111flllllllllll[lilll
susDrvrstoN D>iraPTMEnrr
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
Community Redevelopment Agency s R U PAGE 517E DA MISC LONG RFD COPY
of the City of Palm Springs
3200 East Tahpuitz-Canyon Way 4-
Palm Springs, California 92262 A L 465 426 PCOR NCOR SMF
Attention_ City Clerk Q]y
Exempt from payment of a recording fee pursuant to
Government Cade section 6103.
REGULATORY AGREEMENT AND 014
DECLARATION OF COVENANTS AND RESTRICTIONS
This REGULATORY AGREEMENT AND DECLARATION OF COVENANTS
AND RESTRICTIONS (the "Agreement") is entered into as of this day of
+L 2007, by and between the COMMUNITY REDEVELOPMENT AGENCY
g O TF HE CiTY OF PALM SPRINGS, a public body, corporate and politic ("Agency"), and
EMILIO A, GONZALEZ, A MARRIED MAN AS HIS SOLE AND SEPARATE
PROPERTY("Owner").
RECITALS
A. Owner has entered. into a purchase agreement (the "Purchase
Agreement') to purchase from Mountain Gate II Palm Springs Ventures, LLC (the
"Developer") certain real property located at 375 West Palm Vista Drive, Palm Springs,
California 92262, and more particularly described in the legal description attached
hereto as Exhibit"A" (the."Property')--
B. Agency has developed a program to assist persons and families of very
low, low, and moderate income, as defined by Section 50093 of the Califomia Health
and Safety Code, to rehabilitate residential property and to increase, improve and
preserve very. low, low and moderate-income housing available at affordable housing
cost (as defined in Health and Safety Code Section 50052,5) within the territorial
jurisdiction of Agency in accordance with the Community Redevelopment Law, Health
and Safety Code Section 33000, et seq. Ih furtherance of this program, Agency has
provided financial assistance in the development of the housing project in which the
Property is located.
C.' Agency and the Developer entered into that certain Disposition and
Development Agreement.(the "DDA") dated March 9, 2005, and a Grant Deed, dated,
May 19, 2005, recorded June 1, 2005, as Instrument No- 2005-6434476 in the official
records of Riverside County- Pursuant to the terms of the DDA and the Grant Deed
Aeyulatory Agroemmt PAGE I OF 17 Emilio A,Gonml6
D Wamdon oFCovemnts And Resaiciioos 375 Wm Palm vista Drive
1
vesting title to the Property in Developer, title to the Property may be vested in Owner
subject to this Regulatory Agreement, and the terms hereof shall be binding on the
Owner and its successors in interest in the Property for so long as the Regulatory
Agreement shall remain in effect.
D. Owner requires financial assistance to purchase the Property and would
not be able to purchase the Property without such assistance. Owner is a person or
family of moderate income who currently earns less than 120% of the current annual
median income for the Riverside County area, adjusted for family size, as those terms
are defined in California Health and Safety Code Section 50093.
E. Owner has represented to Agency that Owner and Owner's immediate
family shall reside in the Property as the familys principal residence at all times
throughout the term of this Agreement.
F. Agency desires to lend and Owner desires to borrow funds in the form of a
loan secured by a second lien Deed of Trust to assist Owner to purchase the Property,
subject to the terms and conditions set forth herein. The terms, conditions, and amount
of the loan shall be specified in the Agency Promissory Note-
G. This Agreement is in furtherance of Agency's program to create long term
affordable housings units in the City of Palm Springs. This goal is accomplished through
the terms and conditions of this Agreement which restrict the resale price of the
Property to a level that is affordable to buyers of a certain income level. -
NOW THEREFORE, in consideration of the benefits received by Owner, and for
other good and valuable consideration, the receipt and sufficiency of which ns hereby
acknowledged, Owner and Agency agree as follows:
1. Definitions. The following defined terms have the meanings given below:
"Affordability Period" means the period commencing on the date of recordation of
this Agreement and ending forty-five (45) years thereafter_
"Affordable Housing Cost" shall mean that purchase price which would result in a
Monthly Housing Cost (as defined below) which does not exceed the product of thirty-
five percent(35%) times one hundred ten percent(110%) of the Riverside County area
median income adjusted for family size appropriate for the Property ("Median Income")
for purchasers earning not greater than one hundred ten percent (110%) of the Median'
Income, or the product of thirty-five (35%) times the actual gross .income of the
household for purchasers earning more than one hundred ten percent (110%) and not
more than one hundred twenty percent (120%) of the Median Income, all as more
particularly set forth in Section 50052.5 of the California Health and Safety Code.
"Agency" means the Palm Springs Redevelopment Agency, a public body,
corporate and politic.
R.uhwr7 Agx t PAOE Z OF 17 RmirioA dordi¢
Doolamtian of Cwep°nta and Reanicdon° $75 We PaLu Vnu Drive
"Agency Loan" means the loan to be made by Agency to Owner in the
amount of$50,000.00. The amount of the Agency Loan shall be the difference between
the Purchase Price and the Affordable Housing Cost, as further described in the Agency
Promissory Note.
"Agency Option" shall mean Agency's option to purchase the Property, as
more particularly described in Section 5.2 of this Agreement.
"Agreement' means this Regulatory Agreement and Declaration of
Covenants and Restrictions by and between Agency and Owner.
"Eligible Person or Family" or "Eligible Persons or Families" shall mean
persons and families earning 120% or less of the median income, adjusted for family
size, for the Riverside County area, as further described in the Housing Guidelines.
"Event of Acceleration" shall have the meaning ascribed in Section 7 of
this Agreement_
"Exempt Transfer" shall have the meaning ascribed in Section 5 of this
Agreement. An Exempt Transfer is a Transfer of the Property that does not trigger
repayment of the Agency Loan and the Shared Appreciation Amount_
"First Lien" shall have the meaning ascribed in Section 7 of this
Agreement.
"Monthly Housing Cost" shall include all of the following associated with
the Property, estimated or known as of the date of the proposed sale of the Property: (i)
principal and interest payments on a mortgage loan not' exceeding the prevailing
conventional home mortgage lending rates applied by any reputable institutional home
mortgage fender, or the lending rates of any government-subsidized .or special
mortgage program for which a Qualified Purchaser qualifies and has obtained a first
trust deed loan for the acquisition of the Property; (ii) property taxes and assessments;
(iii) fire and casualty insurance covering replacement value of property improvements;
and (iv) a reasonable utility allowance. Monthly housing cost of a purchaser shall be an
average of estimated costs for the next twelve (12) months.
"Note" or "Agency. Promissory Note" shall mean the promissory note
memorializing Owner's obligation to pay,the Agency Loan, on the terms set forth
therein.
"Owner" has the meaning set forth in the preamble to this Agreement.
"Agency Deed of Trust" shall mean the deed of trust which shall be
recorded against the Property, securing the Note and this Agreement, in the form as
distributed to Owner prior to receiving the Agency Loan.
"Qualified Purchaser" shall have the meaning ascribed in Section 5 of this
Agreement.
,Regulatory Agr=aimt PAW OF 17 P+oiSo A.Ooazda !
Daclamlion ofCwmaaW mdRcaaicpoaa 375 S4cartlm Vida Drin
"Permitted Transfer" shall have the meaning ascribed in Section 4 of this
Agreement.
"Prohibited Transfer' shall have the meaning ascribed in Section 4 of this
Agreement.
.Property"shall have the meaning ascribed in Recital B of this Agreement.
2. Owner Representations and Warranties. Owner represents and warrants to
Agency that the financial and other information previously provided to Agency by Owner
for the purpose of qualifying to purchase the Property was true and correct at the time it
was given and remains true and correct as of the date of this Agreement. Owner
acknowledges that Agency is relying upon Owner's representations that Owner is,an
Eligible Person or Family, and Agency would not have entered into this Agreement if
Owner did not so qualify.
3. Affordability Covenants- During the Affordability Period, the Property shall be
owned and occupied by Owner or persons, who at the time of purchase, are Eligible
Persons or Families.
4. Transfer of Property. All Prohibited Transfers (as defined, below) shall
constitute Events of Acceleration, causing the Agency Loan to become due and
payable. If the Prohibited Transfer is a result of an affirmative conveyance of the
Property by Owner (i-e., not arising from Owner's death or operation of law), and the
conveyance is not an Exempt Transfer pursuant to Section 5, the Prohibited Transfer
shall also constitute a default under this Agreement, entitling Agency to exercise all
remedies available at law or equity. A "Prohibited Transfer" is any Transfer of the
Property that does not constitute a Permitted Transfer, A "Transfer' is any any sale,
assignment, or transfer of an interest in the Property, including, without limitation, a fee
simple interest, tenancy in common, joint tenancy, community property, tenancy by the
entireties, life estate, or other limited estate, leasehold interest or any rental of the
Property, or any interest evidenced by a land contract, or any mortgage or other
encumbrance.
The following Transfers shall constitute "Permitted Transfers" so long as the
transferee(s) give written notice to'Agency of such event within thirty (30) days of its
occurrence and the transferee(s) assume the Owners obligations 'under this
Agreement, the Promissory Note, and the Deed of Trust, by execution of an assignment
and assumption agreement to be 'provided by Agency, if such assumption does not
occur by operation of law: (i) transfer by gift, devise, or inheritance to the Owners
spouse; (ii) transfer of title by an Owner's death to a surviving joint tenant, tenant by
entireties, or a surviving spouse.of community property; (iii) transfer of title to a spouse
as part of divorce or dissolution proceedings or in conjunction with marriage; and (iv) an
Exempt Transfer, as further explained in Section 5 of this Agreement A sale or transfer
which under federal law, would not, by itself, permit Agency to exercise a due on sale or
due on encumbrance clause shall also constitute a.Permitted Transfer.
6dawry Agixmrn[ pAGH4 OF V Emilio A.Gomzlas
Aool+ tivn afCovn to and Ptatiicdons 375 WestPulm V. D(.vc
i I
5. Exempt Transfer; Sale to Qualified Purchaser at Affordable Housing Cost;
Agency Option to Purchase. An "Exempt Transfer" is (i) the sale of the Property by
the Owner to a person who is an Eligible Person or Family ("Qualified Purchaser") (and
that person's status as a Qualified Purchaser has been verified by Agency pursuant to
this Section 5) provided that the Qualified Purchaser assumes the Promissory Note, the
Agency Deed of Trust, and this Agreement pursuant to an assignment and assumption
agreement approved by Agency, and the sale price less the balance of thg Agency
Loan does not exceed the Affordable Housing Cost for the Qualified Purchaser, or (ii)
the sale of the Property by the Owner to Agency or a person designated by Agency
pursuant to Section 5.2 of this Agreement. An Exempt Transfer is a Permitted Transfer.
5.1 Sale by Owner. If Owner desires to sell, exchange, quitclaim or in
any manner dispose of the Property or any part thereof (`Proposed Sale"), Owner shall
notify Agency in writing no later than ten (10) days prior to the date the Property is
placed on the market for a Proposed Sale- .Owner shall not sell or transfer the Property
until such time as Agency has determined (i) the proposed buyer intends to occupy the
Property as its principal residence; (h) the proposed buyer is a Qualified Purchaser and
eligible under the Housing Guidelines; and (III) the Proposed Sale is at an Affordable
Housing Cost(excluding the Agency Loan assumed by the buyer)_
Owner shall cooperate with and reasonably assist Agency with the determination
of whether a proposed buyer is a Qualified Purchaser. In order to verify the buyer's
status as a Qualified Purchaser, Owner 'shall submit to Agency the- identity of the
proposed buyer and adequate information evidencing the income of the proposed
buyer. Said income information shall be submitted not less than thirty (30) days prior to
the Proposed Sale and shall include original or true copies of pay stubs, income tax
records or other financial documents in order that Agency may determine and verify the I
household income of the proposed buyer to determine Qualified Purchaser status and
whether the Property is available to such buyer at an Affordable Housing Cost
(excluding the Agency Loan assumed by the buyer). Agency may request additional
information reasonably required to verify the proposed buyer's status.
OWNER UNDERSTANDS THAT THE DETERMINATION OF THE
AFFORDABLE HOUSING COST CAN BE MADE ONLY AT THE TIME OF .THE
PROPOSED SALE, TAKING INTO CONSIDERATION INTEREST RATES, THE
TERMS OF SALE OFFERED TO AND THE ECONOMIC CIRCUMSTANCES OF THE
PROPOSED PURCHASER AND OTHER FACTORS THAT CANNOT BE
ACCURATELY PREDICTED, AND THAT THE TRANSFER PRICE PERMITTED
HEREUNDER WILL BE LESS THAN THE FAIR MARKET VALUE OF THE PROPERTY
AND MAY NOT INCREASE OR DECREASE IN THE SAME MANNER AS OTHER
SIMILAR REAL PROPERTY WHICH IS NOT ENCUMBERED BY THE
AFFORDABILITY COVENANTS IN THIS AGREEMENT. OWNER FURTHER
ACKNOWLEDGES THAT AT ALL TIMES IN SETTING THE TRANSFER PRICE THE
PRIMARY OBJECTIVE OF AGENCY AND THIS AGREEMENT'IS TO PROVIDE.
HOUSING TO ELIGIBLE PERSONS AND FAMILIES AT AN AFFORDABLE HOUSING
COST.
RcydaWryAp raue¢c PAGE OF 17 A.Gmalc2
D=Il UDA OfCovw, U•Gd RnUiefjans 375 WatPaLq Y6fi brive
k
5.2 Agency Option to Purchase. Owner hereby grants to Agency an
option to purchase the Property at an Affordable Housing Cost or to cause the purchase
of the Property by a third party who is a Qualified Purchaser at an Affordable Housing
Cost, on the temps set forth below ("Agency Option"). In the event Owner is unable to
sell the Property to a Qualified Purchaser pursuant to the terms set forth in Section 5.1,
Owner may request that Agency,exercise the Agency Option to purchase the Property
by delivering to Agency, by certified mail, a copy of this Agreement and a written
request for Agency to exercise the Agency Option (the "Option Request Notice"). The
Option Request Notice shall (i) be dated and signed by the Owner, (ii) contain the
address of the property, and (iii) cwgtain the following statement: THE PURPOSE OF
THIS OPTION REQUEST NOTICE IS TO REQUEST AGENCY EXERCISE ITS
OPTION TO PURCHASE THE PROPERTY. PURSUANT TO THE TERMS OF THE
REGULATORY AGREEMENT I AND DECLARATION OF COVENANTS AND
RESTRICTIONS, AGENCY HAS'6p DAYS TO NOTIFY OWNER OF ITS ELECTION
TO EXERCISE THE AGENCY OPTION TO PURCHASE THE PROPERTY. IF THE
AGENCY DOES NOT EXERCISE THE OPTION, THE PROPERTY WILL BE
RELEASED FROM THE AFFORDABILITY RESTRICTIONS IN THE AGREEMENT,
Should the property be released from the affordability restrictions under the terms of this
Section 5.2, the sale shall constitute.a Prohibited Transfer under Section 4 above and
Owner shall repay the Agency Loan or portion thereof in accordance with Section S.
In no event shall Owner deliver the Option Request Notice to Agency until Owner
has, for a period of ninety (90) days following the date the Property is placed on the
market for a Proposed Sale pursuant to Section 5.1, diligently marketed the Property
and exercised best efforts to sell the Property to an Qualified Purchaser, as reasonably
determined by Agency- Agency shall have no obligation to exercise the Agency Option.
In the event Agency elects to exercise the Agency Option, Agency shall exercise the
Agency Option by delivering written notice to Owner within forty-five (45) days of
Agency's receipt of the Option Request Notice. In the event Agency exercises the
Agency Option and either purchases the Property or arranges the purchase by a
Qualified Purchaser, an escrow shall be established to close within ninety (90) days
after delivery of Agency's notice of exercise of the Agency Option,
In the event Agency fails to agree in writing to exercise the Agency Option,
Owner may sell the Property at an unrestricted sales price to a purchaser who does not
qualify as a Qualified Purchaser. The transfer of the property pursuant to the preceding
sentence constitutes a Prohibited'Transfer for purposes of accelerating the Agency
Loan and triggering the Shared Appreciation Amount pursuant to Section 7 of this
Agreement, but shall not constitute a default under this Agreement.
6. Agency Loan. Agency shall loan to Owner the Agency Loan subject to the
conditions and restrictions set forth herein and those set forth in the Promissory Note,
Agency Deed of Trust, and the Buyer Disclosure Statement. Owner shall execute, as
maker, and deliver to Agency the Promissory Note in favor of Agency, as holder, in the
principal amount of the Agency Loan (the "Note Amount"). Owner shall also execute
and deliver to Agency the Agency Deed of Trust and the Buyer Disclosure Statement in
x'e"lawq Agx mt PAGE 6 OF 17 Vm o A.G9xvAm
Dcclualion ofCnvr pnlc. dk=tdctiow 375We tFarmVistarhive
i
the form as distributed to Owner prior to receiving the Agency Loan. The Agency Loan
shall be used only for the purchase of the Property.
7. Events of Acceleration. The Agency Loan, or balance thereof, shall become due
and immediately payable in accordance with Section 8 of this Agreement, upon the
occurrence of any one of the following events of acceleration ("Event of Acceleration"):
Q) a Prohibited Transfer, (d) the refinancing of the lien.to which the Agency Deed of
Trust is subordinate ("Mrst Lien") for an amount which would provide a total
encumbrance which exceeds the maximum amount permitted under the Housing
Program; (iii) such time if or when Owner is 60 longer an occupant of the Property
pursuant to Section 10 of this Agreement; or (iv) Owner is in default of any other
obligation under this Agreement, the Note, or the Agency Deed of Trust. .
S. Note Repayment and Shared Equity Appreciation.
- 8.1 Repayment 6y Maker, This is a deferred loan. Unless the
conditions of Section 7 of the Agreement are met ("Event of Acceleration"), the Maker
Will not make payments on this note. Instead, interest in the amount of three percent
(3%) 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 Data, an amount equal to
twenty percent (20%) of the original principal shall be forgiven by the Agency. The
accumulated interest shall be forgiven on the sixth anniversary date of the Interest
Accrual Commencement Date,
8.2 Shared Equity Appreciation. In the event of a Prohibited Transfer
during the Affordability Period, in addition to repayment of the balance of the Note
Amount, Agency shall receive a share of the sales proceeds that exceed the value of
the Property at the time of the Agency Loan, in order to recover funds for other low and
moderate-income housing pursuant to state law. The Agency's share of the increase in
equity shall be determined based on the length of time the Property has been occupied
by an Eligible Person or Family prior to the Prohibited Transfer, pursuant to the table
below. The Agency's share of the equity increase will be lowered in the event the
Prohibited Transfer is the result of divorce or death.
Year of Prohibited Percent of Equity Increase
Transfer After Loan Retained by Owner
Years Other Divorce Death
0- 15 0% 01Y0 0%
16- 18 2% 6% 911/0,
19-21 5% 9% 12%
RcFWowry A8;m m-t FA BB 7 OF 17 Emilio A.Qonzal=
Declmtion orcooa and Re W*Liuna 375 Wn[Film Vista Pri'eo
Year of Prohibited Percent of Equity Increase
Transfer After Loan Retained by Owner
22-24 9% 13% 16%
25=27 13% 17% 20%
28-30 17% 21% 24%
31 -33 23°% 27% 1 30%
34- 36 290% 33% 36%
37 39 40% 44% 47°/v
40-42 69% 73% 76%
43-45 100% 100% 100%
As an example only:* Value of Property at time of loan = $200,000
• Amount of Agency Loan = $50,000
• Value of Propertyat time of Prohibited Transfer during
Year 20= $250,000
• Increase in equity=$50,001)
• Repayment of Agency Loan = $50,000 plus interest
Amount of Equity Increase shared with Agency= (95%X
$50,000).=$47,500
• Amount of Equity Increase kept by Owner = (5% X
$50,000)_$2,500
9. Maintenance of Property. Owner shall maintain the buildings, landscaping and
yard areas on the Property, as follows:
No improperly maintained landscaping shall be visible from public rights-of-way,
including:
no lawns with grasses in excess of six(6) inches in height;
no untrimmed hedges;
no trees, shrubbery, lawns, and other plant life dying from lack of
water or other necessary maintenance;
no trees and shrubbery grown uncontrolled without proper pruning;
no vegetation so overgrown as to be likely to harbor rats or vermin;
ItaSd•e^A APammt PAQ,C S OE 17 Emilia A.dovalex
Deelantivn of Covemets.'[Rcstrichs 375 W-00m Vislo briYe
and no dead, decayed, or diseased trees, weeds, and other
vegetation.
No yard areas shall be left unmaintained, including:
no broken or discarded furniture, appliances, and other household
equipment stored in yard areas for periods exceeding one (1) week;
no packing boxes, lumber, trash, dirt, and other debris stored in
yards for periods exceeding one (1) week in areas visible from
public property or neighboring properties;
no unscreened trash cans, bins, or containers stored for longer
than reasonably required for removal by the City's waste haulers in
areas visible from public property or neighboring properties; and
no vehicles parked or stored in areas other than approved parking
areas.
i
No inoperable vehicles stored where visible from public property or
neighboring properties.
No buildings may be left in an unmaintained condition, including:
i
no violation of state or federal law, . Uniform Codes, or City
ordinances, rules or regulations;
no condition that constitutes an unsightly appearance that detracts
from the aesthetics or property value of the subject property or f
constitutes a private or public nuisance;
no broken windows or chipped, cracked or peeling paint; and
no conditions constituting hazards and/or inviting trespassers or
illegal activity.
If such buildings,'landscaping or yard areas are not so maintained, and such
conditions are not corrected as soon as possible but in no event longer than thirty (30)
days after notice thereof from Agency or the City of Palm Springs (the "City"), then
either Agency or the City may perform the necessary maintenance and Owner shall pay
such costs as are reasonably incurred for such maintenance.
Not by way of limitation of the foregoing, Owner shall maintain the improvements
and landscaping on the Property in a manner consistent with community standards
which will uphold- the value of the Property, in accordance with the Palm Springs
Municipal Code.
RLEWata+7 Agr wl PAGE 9 OP 17 P.r Mp A.Gonzd=
r/cimlian nfCvran n mdlicgW,a w 375 WCAPa10 Viafa Drive
i
10, Occupancy, Standards. The Property shall be used as the principal residence of
Owner and Owner's family and'for no other purpose. Owner shall not enter into an
agreement for the rental or lease of the Property. Agency may grant a temporary waiver
of the above requirements for good cause, in Agency's sole and absolute discretion.
The maximum occupancy of the Property shall not exceed the maximum occupancy
allowed by the stricter of applicable state law or the Palm Springs Municipal Code.
Owner shall, upon demand by Agency, submit to Agency an affidavit of occupancy
verifying Owner's compliance with this Section 10. Said affidavit may be required-by
Agency on an annual basis-
11. First Lien; Covenants Do Not Impair First Lien. The provisions of this
Agreement and the Agency Deed of Trust shall be subordinate to the First Lien on the
Property held by'the Lender and shall not impair the rights of Lender, or Lenders
assignee or successor in interest, to exercise its remedies under the First Lien in the
event of default under the First Lien by Owner, Such remedies under the First Lien
include the right of foreclosure or acceptance of a deed or assignment un lieu of
foreclosure. After such foreclosure or acceptance of a deed in lieu of foreclosure, this
Agreement shall be forever terminated and shall have no further effect as to the
Property or any transferee thereafter;provided, however, if the holder of the First Lien
acquires title to the'Property pursuant to a deed or assignment in lieu of foreclosure, this
Agreement shall automatically terminate upon such acquisition of title, provided that (i)
Agency has been given written notice of a default under the First Lien, and (ii) Agency
shall not have cured the default under such First Lien within the 30-day period provided
in such notice sent to Agency.
Agency shall cause a Request for Notice, in the form attached to the DDA as
Attachment No, 10, to be recorded on the Property subsequent to the recordation of the
First Lien deed of trust or mortgage requesting a statutory notice of default as set forth
in the California Civil Code Section',2924b.
12. Defaults. Failure or delay by either party to perform any term or provision of this
Agreement which is not cured within thirty (30) days after receipt of notice from the
other party constitutes a default under this Agreement; provided, however, if such
default is of the nature requiring more than thirty (30) days to cure, the defaulting party,
shall avoid default hereunder by commencing to cure within such thirty (30) day period,
and thereafter diligently pursuing such cure to completion, The party who so fails or
delays must immediately commence to cure, correct or remedy such failure or delay,
and shall complete such cure, correction or remedy-with diligence. The injured party
shall give written notice of default to the party in default, specifying the default
complained of by the injured party. Except as required to protect against further
damages, the injured party may not institute proceedings against the party In default
until thirty (30) days after giving such notice. Failure or delay in giving such notice shall
not constitute a waiver of any default, nor shall it change-the time of default
13_ Indemnification. Owner shall defend, indemnify and hold harmless Agency and
the City of Palm Springs and their respective officers, officials, agents, employees,
RegWataty Ap---t PAGE 10 OF 17 Emitio A Qawg=
A�clanGon ofCovmenL9 and&atdcti= 375 WtatPalm Vista Nva
i
representatives, and volunteers from and against any loss, liability, claim, or judgment
relating in any manner to the Property or this Agreement.
.14. Insurance. Owner shall maintain, during the Affordability Period, an all-risk
property insurance policy insuring the Property in an amount equal to the full
replacement value of the structures on the Property, in a form, content and with
companies approved by Agency. The policy shall name Agency as loss payee and shall
contain a statement of obligation on behalf of the carrier to notify Agency of any material
change, cancellation or termination of coverage at least thirty -(30) days in advance of
the effective date of such material Grange, cancellation or termination. Owner shall
transmit a copy of the certificate of insurance and loss payee endorsement to Agency
within thirty (30) days of the effective date of this Agreement, and Owner shall annually
transmit to Agency a copy of the certificate of insurance and a loss payee endorsement,
signed by an authorized agent of the insurance carrier setting forth the general
provisions of coverage. The copy of the certificate of insurance and loss payee
endorsement shall be transmitted to Agency at the address set forth in Section 16:5_
15. Nondiscrimination. Owner covenants by and for itself, its successors and
assigns, and all persons claiming under or through them that there shall be no
discrimination against or segregation of, any person or group of persons on account of
race, color, religion, sex, marital status, national origin or ancestry in the sale, lease,
sublease, transfer, use, occupancy, tenure or enjoyment of the Property, nor shall
Owner itself or any person claiming under or through it, establish or permit any such
practice or practices of discrimination or segregation with reference to the selection,
location, number, use or occupancy of tenants, lessees, subtenants, sublessees or
vendees in the Property.
Owner, its successors and assigns, shall refrain from restricting the rental, sale
or(ease of the Property on the basis of race, color, religion, sex, marital status, national
origin or ancestry of any person. All such deeds, leases or contracts shall contain or be
subject to substantially the following nondiscrimination or nonsegregation clauses:
In deeds; "The grantee herein covenants by and for himself or
herself, his or her heirs, executors, administrators and assigns, and all
persons claiming under or through them, that there shall be no
discrimination against or segregation of, any person or group of persons
on account of race, color, religion, sex,.marital status, national origin or
ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or
enjoyment of the land herein conveyed, nor shall the grantee himself or
herself or any person claiming under or through him or her, establish or
permit any such practice or practices of discrimination or segregation with
reference to the selection, location, number, use or occupancy of tenants,
lessees, subtenants, sublessee or vendees in the land herein conveyed.
The foregoing covenants shall run with the land."
In leases: "The lessee herein covenants by and for himself or
herself, his or her heirs, executors, administrators and assigns, and all
AegaUturyAt�alt PAGE 11 OF 17 F.W-A.Oumatsz
DovLuabon of Covrnwm aad Eearicuonx 775 We tPalm Vier Drive
ui
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persons claiming under or through him or her, and this lease is made and
.accepted upon and subject to the following conditions.-
"There shall be no discrimination against or
segregation of any person or group of persons on account of
race, color, religion, sex, marital status, ancestry or national
origin in the leasing, subleasing, transferring, use,
occupancy, tenure or enjoyment of the premises herein
leased nor shall the lessee himself or herself, or any person
cUming under or through him or her, establish or permit any
such practice or practices of discrimination or segregation
with reference to the selection, location, number, use or
occupancy of tenants, lessees, sublessees, subtenants or
venidees in the premises herein leased-"
In contracts: 'There shall be no discrimination against or
segregation of, any person or group of persons on account of race, color,
religion, sex, marital status, ancestry or national origin, in the sale, lease,
sublease, transfer, use, occupancy, tenure or enjoyment of the premises,
nor shall the transferee himself or herself or any person claiming under or
through him or her, establish or permit any such practice or practices of
discrimination or segregation with reference to the selection, location,
number, use or occupancy of tenants, lessees, subtenants, sublessee or
vendees of the premises."
Notwithstanding the foregoing, Owner acknowledges and agrees that during the
Affordability Period, Owner shall occupy the P{operty as Owner's principal residence
and shall not rent or lease the Property.
16. Miscellaneous.
'16.1 Attorneys' trees and Costs. If any action is brought to enforce the
terns of.this Agreement, the prevailing parry shall be entitled to reasonable attorneys'
fees and costs_
16.2 Controlling Agreement. Owner covenants that Owner has not
executed, and will not execute any other agreement with provisions contradictory to or
in apposition to the provisions hereof, and that in any event, Owner understands and
agrees that this Agreement shall control the rights and obligations between the parties.
16.3 Severabiiity, If any one or more of the provisions contained in this
Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any
respect, then such provision or provisions shall be deemed severable from the
remaining provisions contained in this Agreement, and this Agreement shall be
construed as if such invalid, illegal, or unenforceable provision(s) had never been
contained hereon.
Hcgnl.tory Agr mt FADE 1Z OF 17 Emilio A.Qoma1C6
Da Jmlion of Covga„b mud Vmtdcaa� 775 WmtRalm Yis1+17rive
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16.4 Time. Time is of the essence of this entire Agreement. Whenever
under the terms of this Agreement the time for performance falls on a day which is not a
business day, such time for performance shall be on the next day that is a business
day-
16.5 Notices. All notices required to be delivered under this Agreement
to the other party must be in writing and shall be effective (i) when personally delivered
by the other party or messenger or courier thereof; (ii) three (3) business days after
deposit in the United States mail, registered or certified; or (iii) one (1) business day
after deposit before the daily deadline time with a reputable overnight courier or service;
in each case postage fully prepaid and addressed to the respective parties as set forth
below or to such other address and to such other persons as the parties may hereafter
designate by written notice to the other party hereto
Community Redevelopment Agency of the
If to Agency: City of Palm Springs
Attention: Executive ❑irector
3200 East Tahquitz Canyon Way
Palm Springs, California 92262
If to Owner. Emilio A- Gonzalez
375 West Palm Vista Drive
Palm Springs, CA 92262
16.6 Captions and pronouns. The captions and headings of the various
Sections of this Agreement are for convenience only, and are not to be construed as
confining or limiting in any way the scope or intent of the provisions hereof. Whenever
the context requires or permits, the singular shall include the plural, the plural shall
include the singular, and masculine, feminine, and neuter shall be freely
interchangeable.
16.7 Running of Benefits and Burdens. All conditions, covenants, and
restrictions contained in this Agreement shall be covenants running with the land, and
shall, in any event, and without regard to technical classification or designation, legal or
otherwise, be, to the fullest extent permitted by law and equity, binding for the benefit
and in favor of, and enforceable by, Agency and its successors and assigns, against
Owner; its successors and assigns, to or of the Property conveyed herein or any portion
thereof or any interest therein, and any party in possession or occupancy of said
Property or portion thereof.
In amplification and not in restriction of the provisions set forth hereinabove, it is
intended and agreed that Agency shall be deemed a beneficiary of the agreements and
covenants provided hereinabove both for and in its own right and also for the purposes
of protecting the interests of the community. All covenants without regard to technical
classification or designation shall be binding for the benefit of Agency and such
covenants shall run in favor of Agency for the entire period during which such covenants
shall be in force and effect, without regard to whether Agency is or remains an owner of
any land or interest therein to which such covenants relate. Agency shall have the right,
AvSd.tvry Ag�—t PAG$13 6F 17 Emilie A-(]. >[ s
DxLntia�aFCovNwn�avd RcalycyvLa 37S WCB[Pilm�cm➢rivc
in the event of any breach of any such agreement or covenant, to exercise all the rights
and remedies, and to maintain any action at law or suit in equity or other proper
proceedings to enforce the curing of such breach of agreement or covenant.
16.8 Construction_ The rule of strict construction does not apply to this
Agreement. This Agreement shall 'be given a reasonable construction so that the
intention of the parties, to prevent any-Prohibited Transfer or any use of the Property in
violation of this Agreement, is carried out
16.9 Obligations Secured by Agency Deed of Trust. The payment and
Performance of all obligations of Owner under this Agreement are secured by the
Agency Deed of Trust.
I
16.10 Counterparts. This Agreement may be executed in two or more
counterparts, each of which when so executed and delivered shall be deemed an
original and all of which, when taken together, shall constitute one and the same
instrument.
16.11- Recordation'; Effective Date. This Agreement shall be recorded•
and shall become effective upon the transfer of fee title to the Property to Owner.
16.12 Waiver. No delay or omission by Agency in exercising any right or
Power accruing upon the compliance or failure of performance by Owner hereto under
the provisions of this Note shall impair any such right or power or be construed to be a
waiver thereof. A waiver by Agency of a breach or Event of Acceleration or of any
failure of performance by Owner of any of the covenants, conditions or agreements
hereof to be performed by Owner shall not be construed as a waiver of any succeeding I
breach of the same or other covenants, agreements, restrictions or conditions hereof;
I/
//
//
d
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PACE 14 OF 17 Emilio A.Uawticz
DhoVmGdn ofCovn ft and Rwricrivns 37$Ww Palm data rkiw
I
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[I
IN WITNESS WHEREOF, the,parties have executed this Agreement as of the date first
written above.
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITYOF PALM SPRINGS,
a public body, corporate and politic
Sighed in Gbunterpare
By:
Executive Director
"AGENCY"
Attest:
Signed in Counterpart _
James Thompson, Assistant Secretary Emilio A- Gonzalez
(Agency's and Owners Signature must be "OWNER"
acknowledged by a Notary Public)
Approved as to form:
Signed in Counterpart
Douglas C. Holland, City Attorney
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ReguiatdryAgincpmt PAOB 15 OF 17 E.N9 A.Qvaulu
Deil+ntian of Cavmenla ead lLesIDeltew& 375 WestPdm ViM Yhive
STATE OF CALIFORNIA }
}
COUNTY OF } ss
Onh, lZ A!W deD7 b' pfpre m_ e,TE?M77ri 9-r /0Z?e2]{W Notary
Public, personally appeared i D �nZY7 lZ
peraeagalFyHmevvn to rfle (or ed to me on the bas f satisfactory evidence) to
be the personf whose name ] is/ subscribed to the within instrument and
acknowledged to me that he/st /Jhey executed the ' same in his/f}efiOr
authorized capacity,W, and that by his/hefr(hef signature on the instrument
the person or the entity upon behalf of which the person acted, executed the
instrument.
WITNESS my hand and official seal.
J1,%If:IFER PROCTOR
F•" i•'2 Commission#f iS5G965 7
C .� Nota ,?ubllc W-Cifyorrlla
Signature ' ""�a�lAy Comrn.Ezpi:e59ec 162007
i
STATE OF CALIFORNIA
}
}ss
COUNTY OF }
On before me, Notary
Public, personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to
--be the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same .in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument
the person(s) or the entity upon behalf of which the person(s) acted, executed the
instrument.
WITNESS my hand and official seal.
Signature
Pc8ul�7ABtnt PAGE 17 op 17 $milioA tlonn{nz
1)ec4ntiop aSCweoeure and ICcatrictivao 775 Wea[Pdb Mara Ariw
i
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first
written above.
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITYOF PALM SPRINGS,
a public body, corporate and politic
Executive Dyi�rector
QLCCII I J "AGENCY
Attest: ,
• James Thompson,Assistant Secr ary Emilio A. Gonzalez
(Agency's and Owner's Signature must be -OWNER"
acknowled by a Notary Public)
Appro e s to form:
Dougla clland, City Attorney
449MY BY RES. Ma���( � D�
'rfr'Uy�Y . P��uw`�r4� Ao�tvL AO�L�L
R a1o4'Apfu�eat FAGE 15 OF 17 Fm1&A.Gomal=
ticdmatioo ofCavGhaat3 m1d Restricpans 375 Weal Palm Vista hive
STATE OF CALIFORNIA }
}ss
COUNTY OF �(VV faC }
On rl� before me, h« A &WA ?G Notary
Public, personally appeared c ar
personally known to me to
be the person(s) whose name(s) re subscribed to the within instrument and
acknowledged to me that X101e4be executed the 'same in Dis/Isar heir
authorized capacity(ies), and that by>sOW13hei signature(s) on the instrument
Vie person(s) or the entity upon behalf of which the person(s) acted, executed the
instrument.
WITNESS my hand and official seal.
Signature Mytanwri F�►wr�a1°"201
i
STATE OF CALIFORNIA }
)ss
COUNTY OF }
On before me, Notary
Public, personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to
be the person(s) whose name(s) is/are subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their
authorized capacily(ies), and that by his/her/their signature(s) on the instrument
the person(s) or the entity upon behalf of which the persoh(s) acted, executed the
instrument.
WITNESS my hand and official seal.
Signature
Regutaz ry Abrc mt PACE 17 OF 17 Emilio A.Gv=I=
Dm1arution afco'vnosata and Rasirielions 375 We•.1 Palm Visor Drive
EXHIBIT A
LEGAL DESCRIPTION
Lot 117 of the Desert Highland Estates, in the City of Palm Springs, as shown by
Map on file in Book 24, Page(s) 53 and 54 of Maps, in the office of the County
Recorder of Riverside County, Califomia-
i
Excepting and reserving therefrom all oil, gas, hydrocarbon substances and
minerals of every kind and character lying more than five hundred feet (500')
below the surface, together with the right to drill into, through, and to use and
occupy all parts of the Site lying more than five hundred feet (500') below the
surface thereof for any and all purposes incidental to the exploration for and
production of oil, gas, hydrocarbon substances or minerals from the Site but,
without, however, any right to use either the surface of the Site or any portion
thereof within five hundred feet(500') of the surface for any purpose or purposes
whatsoever.
c
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Reguiamry gcet wt PAGE 16 OF 17 rmdia A GaaLiltL
A.
DeclMtion oECovcn9n(s and RPstriedms M West Palm Vista chive
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DCC # 2007-0289618
04/30/2007 08;00A Fee:NC
FIDELITY NATIONALTTTLE COMPANY Pin t or to
Recorded in Diricial Records
SUB Larry
DIVISION DEPARTMENT County Riverside
W. Ward
Assessor, County Clerk & Recorder
RECORDING REQUESTED BY AND I IIIII IIIIIII IIIII �II IIIII I IIIIII IIIII_ II�
WHEN RECORDED MAIL TO:
Community Redevelopment Agency
of the City of Palm Springs
3200 East Tahquitz-Canyon Way S R U PAGE SIZE DA MISC LONG RFD COPY
Palm Springs, California 92262
Attention: City Clerk (�
A L 465 426 PCOR NCOR SMF NCHG E% M
Exempt from payment of recording fees Q ! (�
pursuant to Government Code § 6103. l
Escrow#220224-TW
DEED OF TRUST WITH ASSIGNMENT OF RENTS
} 014
THIS DEED OF TRUST WITH ASSIGNMENT OF RENTS ("Deed of Trust") is made as of the
April 26, , 2007, by and between EMILIO A. GONZALEZ, A MARRIED MAN AS
HIS SOLE AND SEPARATE PROPERTY, ("Trustor"), whose address is 375 West Palm Vista
Drive, Palm Springs, California 92262, FIDELITY NATIONAL TITLE INSURANCE COMPANY
("Trustee"), whose address is 3550 Vine Street, Riverside, California, 92507, and the
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a public body
corporate and politic ("Beneficiary"), whose address is 3200 East Tahquitiz-Canyon Way, Palm
Springs, California 92262.
WITNESSETH: That Trustor grants to Trustee in trust, with power of sale, that property in the
City of Palm Springs, County of Riverside, State of California, described as set forth on Exhibit
"A" attached hereto and hereby incorporated herein by reference (the 'Property") together with
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 Fifty Thousand Dollars ($50,000.00), with
interest thereon according to the terms of a promissory note or notes of even date herewith
made to Trustor, payable to order of Beneficiary, and extensions or renewals thereof; (2) the
performance of each agreement of Trustor incorporated by reference or contained herein; and
(3) payment of additional sums and interest thereon which may hereafter be loaned to Trustor,
or his or her successors or assigns, when evidenced by a promissory note or notes reciting that
they are secured by this Deed of Trust.
THIS DEED OF TRUST IS HEREBY MODIFIED/SUPPLEMENTED BY THE TERMS OF THAT
CERTAIN RIDER TO DEED OF TRUST WHICH IS ATTACHED TO THIS DEED OF TRUST
AND HEREBY INCORPORATED BY REFERENCE.
To protect the security of this Deed of Trust, and with respect to the property above described,
Trustor expressly makes each and all of the agreements, and adopts and agrees to perform and
be bound by each and all of the terms and provisions set forth in subdivision a, and it is mutually
agreed that each and all of the terms and provisions set forth in subdivision B of the fictitious
deed of trust recorded in Orange County August 17, 1964, and in all other counties August 18,
1964, 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, noted below opposite the name of such county, namely:
COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY 51GOK PAGE COUNTY BOOK PAGE
Alameda 1288 656 King: 858 713 Placer 1028 n7u 51cml 38 187
Alpine 3 130-31 L.Ne 437 Ila Pluma� 165 1307 Sleldyou 608 762
Amador 133 438 L.ecen Ian 267 Fmemldp 3778 357 Solon. 1287 621
Butt. 1330 G13 Let Angeloc T3878 874 Sacrament. G030 124 Sonoma 2067 427
C.Im ema 165 330 Mndem 911 135 San Benllo 300 405 51 1970 SG
Colusa 313 301 Mad. 1840 122 San Bemardm. 6213 758 Sutter Bar Gall
Contm Coy. 4884 1 Madp.. B0 462 Son Fmnepco A3304 586 Tehom. 457 ta3
Del None 101 540 Mend..I. 6e7 pP San Joaqun 2655 292 Trinity 108 $86
El Dorado 704 635 Merced Idea 753 Sun Lul,Obispo 1311 137 Tutu, 2530 109
preen. 5052 622 Mmoc 191 03 San Mateo 4778 175 Tuelumno 177 160
Glenn 400 75 Mono eo 302 S.nm Burb.ra 2065 281 venlum 2007 237
Humboldt Sol 83 Momony 357 220 Santo clot. 5626 564 Yob 769 1e
Impodal 1189 701 N.P. 704 742 Santa C. 1G30 507 Yuba 366 893
1'. 105 672 Nev.da 353 94 Shasta 800 San
Kenn a718 0P0 Orange 71a2 13 Sun Ciooc SERIES 5 Gook 1064 P.ge 14P779
shall inure to and bind the parties hereto, with respect to the property above described. said
agreements, terms and provisions contained in said subdivision A and B (identical in all
counties, and printed on pages 3 and 4 hereof) are by the within reference thereto, incorporated
herein and made a part of this Deed of Trust for all purposes as fully as if set forth at length
herein, and Beneficiary may charge for a statement regarding the obligation secured hereby,
provided the charge therefore does not exceed the maximum allowed by law-
S ignature of Trustor rCrl Date: ` l,i-6 /
By:
Emilio A. Gonzalez
[End of Signatures]
STATE OF CALIFORNIA }
} ss
COUNTY OF �7"/LL1 de. }
On
_&912- �607 before me, 722 2101"i l- 4�ZY Notary Public,
personally appeared
perssftaHgimovvn terwrte (or proved to me on the basis of satisfacto e�vid_e_nce) to be the
person whose namejzs) is/0 subscribed to the within instrument and acknowledged to
me tha he/sh lWy executed the same in his/hafteirauthorized capacity(i< and that
by hisjhef/t�signature(t` on the instrument the personvor the entity upon behalf of
which the person acted, executed the instrument.
WITNESS m an an official l a sea .
Y hddf
JEJ ,,,DC PWOCTOR
f '}. �•,-_•'��, COfl R1i.,51CR-f �.i$b�b$ I,
'i- l_n{� ?�OI(S'j n, �iC.C.GIIfCioiQ r"
Signature i h,y Conrn C ^e,-
(Seal)
STATE OF CALIFORNIA }
) ss
COUNTY OF }
On before me, Notary Public,
personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to
me that he/she/they executed the same in his/her/their authorized capacity(ies), and that
by his/her/their signature(s) on the instrument the person(s) or the entity upon behalf of
which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
LEGAL DESCRIPTION -
Lot 117 of the Desert Highland Estates, in the City of Palm Springs, as shown by Map.
on file in Book 24, Page(s) 53 and 54 of Maps, in the office of the County Recorder of
Riverside County, California.
Excepting and reserving therefrom all oil, gas, hydrocarbon substances and minerals of
every kind and character lying more than five hundred feet (500') below the surface,
together with the right to drill into, through, and to use and occupy all parts of the Site
lying more than five hundred feet (500') below the surface thereof for any and all
purposes incidental to the exploration for and production of oil, gas, hydrocarbon
substances or minerals from the Site but, without, however, any right to use either the
surface of the Site or any portion thereof within five hundred feet (500') of the surface
for any purpose or purposes whatsoever.
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
Community Redevelopment Agency
of the City of Palm Springs
3200 East Tahquitz-Canyon Way
Palm Springs, California 92262
Attention: City Clerk
Exempt from payment of recording fees
pursuant to Government Code § 6103.
Escrow#220224-TW
RIDER TO DEED OF TRUST WITH ASSIGNMENT OF RENTS
THIS RIDER TO DEED OF TRUST WITH ASSIGNMENT OF RENTS ("Rider') is
attached to and incorporated by reference to that certain Deed of Trust With
Assignment of Rents, executed by EMILIO A. GONZALEZ, A MARRIED MAN AS HIS
SOLE AND SEPARATE PROPERTY, as "Trustor," naming FIDELITY NATIONAL
TITLE INSURANCE COMPANY ("Trustee'), whose address is 3550 Vine Street,
Riverside, California, 92507, as "Trustee," in favor of the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a public body,
corporate and politic, as "Beneficiary." The Deed of Trust, as hereby
modified/supplemented by this Rider, is hereinafter referred to as the "Deed of Trust"
The following documents are incorporated herein by reference:
a. The Regulatory Agreement and Declaration of Covenants Running
With Land by and between Trustor as "Owner" and Beneficiary as
"Agency" dated on April 27, , 2007 (the "Affordable
Housing Agreement"), which sets forth terms and conditions for
Beneficiary's loan of the Loan (as defined below) to Trustor. All
terms which are not defined in this Deed of Trust shall have the
meaning given in the Affordable Housing Agreement.
b. The Agency Promissory Note ("Note"), dated on April 26
2007, with Trustor as "Borrower" and Beneficiary as "Agency" or
"Lender," in the principal amount of Fifty Thousand Dollars
($50,000.00) ("Loan" or "Note Amount"), for which this Deed of
Trust is security.
The parties hereto agree:
1, Obligations Secured. Trustor makes this grant and assignment for the
purpose of securing the following obligations:
a. Payment to Beneficiary of the Loan and all indebtedness at any
time owing under the terms of the Note;
b. Payment and performance of all obligations of Trustor under this
Deed of Trust;
C. Payment and performance of all obligations of Trustor under the
Affordable Housing Agreement;
d. Payment and performance of all future advances and other
obligations of Trustor or any other person, firm, or entity with the
approval of Trustor, may agree to pay and/or perform (whether as
principal, surety or guarantor) for the benefit of Beneficiary, when
the obligation is evidenced by a writing which recites that it is
secured by this Deed of Trust; and
e. All modifications, extensions and renewals of any of the obligations
secured hereby, however evidenced.
2. No Renting or Leasing. Trustor acknowledges and agrees that Trustor
shall occupy the Property as Trustor's principal residence in accordance with the
Affordable Housing Agreement and shall not rent or lease the Property. Nothing in the
Deed of Trust including the assignment of rents shall be interpreted or construed to
permit the Trustor to rent or lease the Property.
3. Mortgagee-in-Possession. Neither the assignment of rents set forth in
the Deed of Trust nor the exercise by Beneficiary of any of its rights or remedies
hereunder shall be deemed to make Beneficiary a "mortgagee-in-possession" or
otherwise liable in any manner with respect to the Property, unless Beneficiary, in
person or by agent, assumes actual possession thereof. Nor shall appointment of a
receiver for the Property by any court at the request of Beneficiary or by agreement with
Trustor, or the entering into possession of the Property by such receiver, be deemed to
make Beneficiary a "mortgagee-in-possession" or otherwise liable in any manner with
respect to the Property.
4. No Cure. In the event Beneficiary collects and receives any rents under
the Deed of Trust upon any default hereof, such collection or receipt shall in no way
constitute a curing of the default.
5. Beneficiary Option to Purchase. NOTICE IS HEREBY GIVEN THAT
TRUSTOR HAS GRANTED TO BENEFICIARY AN OPTION TO PURCHASE THE
PROPERTY, THE TERMS OF WHICH ARE SET FORTH IN THE AFFORDABLE
HOUSING AGREEMENT,
6. Waiver. No delay or omission by Beneficiary in exercising any right or
power accruing upon the compliance or failure of performance by Trustor hereto under
the provisions of this Deed of Trust shall impair any such right or power or be construed
to be a waiver thereof. A waiver by Beneficiary of a breach of, Event of Acceleration, or
any other of any failure of performance by Trustor of any of the covenants, conditions or
agreements hereof to be performed by Trustor shall not be construed as a waiver of any
succeeding breach of the same or other covenants, agreements, restrictions or
conditions hereof.
IN WITNESS WHEREOF, Trustor has executed this Rider as of the date set forth
in the Deed of Trust's acknowledgment hereinbelow, to be effective for all purposes as
of the day and year first set forth above.
SIGNATURE OF TRUSTOR:
Date: 6 By:
(�IVY6-,
Emilio A. Gonzalez
jEnd of Signatures]
STATE OF CALIFORNIA }
ss
COU./�NTYOFA')/ %,ry[L� }
On .-,26;it' before me, 1' �i(r u ��r Notary Public,
personally appeared � Yl; 41 C
per-soRally-Imown to-me-�or proved tom on the-basis-af_satisf, go-y evidence to be the
personj5) whose name is/�subscribed to the within instrument and ac�owledged to
me that hehPb1tVy executed the same in hislVr/their authorized capacity(, and that
by his/h,&thyr signatureA on the instrument the person] or the entity upon behalf of
which the person acted, executed the instrument.
WITNESS my hand and official seal. - .:' ,1-;i� rj oCTOa
Carnrri aivP '4.G4o5 .i
L. �
Signature "e /J/ r,, „r Dec 16 ?,c;
(Seal)
STATE OF CALIFORNIA }
)Ss
COUNTY OF }
On before me, Notary Public,
personally appeared
personally known to me (or proved to me on the basis of satisfactory evidence) to be the
person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to
me that he/she/they executed the same in his/her/their authorized capacity(ies), and that
by his/her/their signature(s) on the instrument the person(s) or the entity upon behalf of
which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature
(Seal)
LEGAL DESCRIPTION
Lot 117 of the Desert Highland Estates, in the City of Palm Springs, as shown by Map
on file in Book 24, Page(s) 53 and 54 of Maps, in the office of the County Recorder of
Riverside County, California.
Excepting and reserving therefrom all oil, gas, hydrocarbon substances and minerals of
every kind and character lying more than five hundred feet (500') below the surface,
together with the right to drill into, through, and to use and occupy all parts of the Site
lying more than five hundred feet (500') below the surface thereof for any and all
purposes incidental to the exploration for and production of oil, gas, hydrocarbon
substances or minerals from the Site but, without, however, any right to use either the
surface of the Site or any portion thereof within five hundred feet (500') of the surface
for any purpose or purposes whatsoever.
1
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
Notary Identification Number
Vender Identification Number �~
County Where Bond Is Filed )
Date Commission Exp
1� SPL, I as
DATE:/
Signature
State of California )
County of )
On before me, personally appeared,
personally known to me (or proved to me 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 helshe/they executed the same in his/her their authorized capacity (ies), and
that by his/her/their signature (s) on the instrument the pe:aon (s), or the entity upon
behalf of which the person (s) acted, executed the instrument. WITNESS my hand
and official seal. Signature
I CERTIFY UNDER PENALTY OF PERJURY THAT THIS MATERIAL IS A TRUE COPY OF
THE ORIGINAL MATERIAL CONTAINED IN THE DOCUMENT:
SPL, Inc. as agent
DATE: / !_
Signature
Revised 9/6/0(,R I
N7 001 Z)Icnalucsml RI(1)dnc