HomeMy WebLinkAbout00046C - ROMAN CATHOLIC BISHOP OF SAN BERNARDINO LAND ACQUISITION ALEJO BELARDO Roman Catholic Bishop of San
Bernardino-acq of 39,440 sq ft
of land,Alejo & Belardo,PA1B2
AGREEMENT #46, 8-23-83
ACQUISITION AGREEMENT Resolution 137, 6-15-83
THIS AGREEMENT is entered into this 15th day of
June , 1983 by and between the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS (the
"Agency" ) and THE ROMAN CATHOLIC BISHOP OF SAN BERNARDINO, a
Corporation Sole (the "Seller" ) .
Recitals
A. The Agency is a public body, corporate and politic,
organized and existing under the California Community Redevelop-
ment Law (Health and Safety Code Section 33000 et seg. ) to
carry out the Redevelopment Plan for the Central Business
District Redevelopment Project , adopted by the Cit_v Council of
the City of Palm Springs on July 11, 1973 by Ordinance No.
952.
B. The Seller is the owner of certain real property in
the Project area.
Agreements
1. Agreement to Sell and Purchase.
Seller agrees to sell to Agency and Agency agrees to
purchase from Seller, upon the terms and for the consideration
set forth in this Agreement, that certain real property (the
"Site" ) described in Exhibit "A" attached hereto and
incorporated herein by reference.
2. Acquisition Price.
The total purchase price for the Site shall be the
sum of Six Hundred Ten Thousand Dollars ($610 , 000 . 00) (the
"Acquisition Price" ) . One Hundred Sixty Thousand Dollars
($160,000. 00) shall be the downpayment, with the balance
evidenced by Promissory Note in the principal amount of Four
Hundred Fifty Thousand Dollars ($450, 000 . 00) , copy of which is
attached hereto marked Exhibit "B" and incorporated herein by
reference.
3. Security - Deed of Trust.
Said promissory note shall be secured by deed of
trust on the property thus sold. A copy of said deed of trust
is attached hereto marked Exhibit "C" and incorporated herein
by reference.
4. Escrow.
Within thirty (30) days from the execution of this
Agreement by the Agency, the Seller and the Agency shall open
an escrow with John J. Pearce Escrow, Inc. , a California
corporation, or any title company in Riverside , California
(the "Escrow Agent") approved by the Agency and the Seller.
This Agreement constitutes the joint escrow instructions of
the Agency and the Seller, and a duplicate original of this
Agreement shall be delivered to the Escrow Agent upon the
opening of the escrow. The Agency and the Seller may furnish
to the Escrow Agent any additional escrow instructions in
-2-
writing which are in conformity with this Agreement and which
are mutually satisfactory to both parties . The Escrow Agent
hereby is empowered to act under this Agreement and shall carry
out its duties as Escrow Agent hereunder.
The Agency shall deposit the downpayment price with
the Escrow Agent. The Agency shall also pay in escrow the
fees, charges and costs connected with the escrow as specified
in Section 7 of this Agreement together with the cost of the
policy of title insurance as hereinafter described.
The Seller shall timely and properly execute,
acknowledge and deliver a deed conveying to the Agency title
to the Site in accordance with the requirements of Section 5
of this Agreement. Upon delivery of the deed to the Site by
the Seller and deposit of the downpayment by the Agency, but
in any event no later than thirty (30) days after the opening
of escrow, the Escrow Agent shall record and deliver said deed
and deed of trust, and title to the Site shall be conveyed to
the Agency. Seller agrees to maintain liability insurance as
set forth in paragraph 8 , page 5 , hereof.
The close of escrow and the obligation of any party
to purchase or sell the Site pursuant to this Agreement is
conditioned upon the conveyance to the Agency of good and market-
able title to the Site , as evidenced by a standard form C.L.T.A.
title insurance policy.
-3-
i
The Escrow Agent is authorized to pay and charge the
Agency and the Seller for any fees, charges and costs payable
under this Section 4 and Sections 6 and 7 of this Agreement.
Specifically, the Escrow Agent is authorized to:
(a) Pay and charge Seller for any delinquent taxes
and any penalties and interest thereon, and for any
delinquent or non-delinquent assessments or bonds against
the Site; and
(b) Pay and charge Seller for any amount necessary
to place title in the condition necessary to satisfy
Section 5 of this Agreement.
In addition, the Escrow Agent is authorized to disburse
funds and deliver the deeds and other documents to the parties
entitled thereto and to record any instruments delivered through
this escrow if necessary or proper to vest title in the Agency
in accordance with the terms and provisions of this Agreement.
5. Condition of Title.
The Seller shall convey by Grant Deed to the Agency
marketable fee simple title to the Site. Except as herein
provided, title shall be free and clear of all recorded or
unrecorded liens , encumbrances , covenants, assessments , ease-
ments, leases and taxes.
6. Taxes and Assessments.
Ad valorem taxes and assessments , if anv, on the
Site levied, assessed or imposed for any period prior to
-4-
conveyance of title shall be borne by the Seller. All ad
valorem taxes and assessments levied or imposed for any period
following conveyance of title shall be the responsibility of
the Agency. If the applicable tax rate is then unknown, the
proration shall be based upon the real property taxes for the
preceding fiscal year.
7 . Expenses of Escrow.
Except as otherwise provided herein, the Agency
shall pay in escrow to the Escrow Agent all fees , charges and
costs connected with the escrow, title insurance and convey-
ance including, but not limited to, the escrow fee, the
premium for the title insurance policy, costs of preparing and
executing the Grant Deed, recording fees, notary fees , any
state, county or city documentary stamps and any transfer
taxes. Any costs of obtaining reconveyances under
encumbrances or removing clouds on the title, and recording
fees in connection therewith, shall be borne by Seller.
B . Insurance.
Agency shall obtain liability insurance equal to not
less than One Million/Two Million Dollars for liability with
Seller named as additional insured prior to close of escrow.
9. Personal Injuries.
Agency shall indemnify and hold Seller free and harm-
less from any and all demands or loss or liability resulting
-5-
from the injury to or death of any person or persons because
of the negligence of Agency or the condition of the Site at
any time or times after the date possession of the Site is
delivered to Agency.
10. Occupancy by Seller or Tenants.
Except as otherwise provided herein, the Site shall
be conveyed to the Agency upon the close of escrow, free and
clear of any possession or right of possession by the Seller
or by any tenants , sublessees, assignees or transferees of the
Seller. Seller, however, shall have and retain all the rights
for using the Site thus conveyed as set forth in paragraph 22
hereof.
11. Permission to Enter on Site.
Prior to the conveyance of title , Seller grants to
the Agency, its authorized officials , agents , employees ,
contractors and contractors ' employees the right of access to
the Site at all reasonable times for the purpose of obtaining
data and making surveys and tests. All such work performed on
the Site by the Agency shall be a the sole expense of the
Agency. The Agency shall hold the Seller harmless for any
injury or damages arising out of any activity pursuant to this
Section 11.
12. Right of Termination by Seller Prior to Conveyance.
If the Agency does not pay the downpayment, execute
a promissory note and take title to the Site under tender of
-6-
conveyance by the Seller and any such failure is not cured
within thirty (30) days after written demand by the Seller,
then the Agreement shall , at the option of the Seller , be
terminated by written notice thereof to the Agency.
13 . Acquisition Under Threat of Condemnation.
This acquisition is being made under threat of condemn-
ation by the Agency which is a public agency having the power
of eminent domain pursuant to the California Eminent Domain
Law, the California Community Redevelopment Law and the
Redevelopment Plan. The Seller recognizes that the Acquisition
Price is in lieu of any and all compensation, damages and
costs including relocation costs to which the Seller might be
entitled if the Agency were to proceed to acquire its property
by eminent domain.
14. Possession.
Agency shall be entitled to enter into possession of
said property on close of escrow and to continue in possession
thereof so long as it is not in default of the performance of
this Agreement.
15. Mechanics ' Liens.
Agency shall indemnify and hold Seller and the Site,
including Seller' s interest in the Site, free and harmless
from liability for any and all mechanics ' liens or other
expenses or damages resulting from any renovations, alterations ,
buildings, repairs, or other work done on the Site by Agency.
-7-
16 . No Representations.
Agency represents to Seller that the Site has been
inspected by it and that it has been assured by means
independent of Seller, or of any agent of Seller, of the truth
of all facts material to this Agreement, and that said Site,
as it is described in this Agreement, is and has been
purchased by Agency as a result of such inspection or
investigation and not by or through any representations made
by Seller, or by an agent of the Seller. Agency hereby expressly
waives any and all claims for damages or for rescission or
cancellation of this Agreement because of any representations
made by Seller or by any agent of Seller, other than such
representations as may be contained in this Agreement. Agency
further agrees that Seller and any and all agents of Seller
shall not be liable for or on account of any inducements ,
promises , representations , or agreements not contained in this
Agreement; that no agent or employee of Seller is or has been
authorized by Seller to make anv representations with respect
to said Site, and that if any such representations have been
made they are wholly unauthorized and not binding on Seller.
17. Entire Agreement.
Both Agency and Seller agree that this Agreement
constitutes the sole and only agreement between them respecting
said Site and correctly sets forth their obligations to each
other as of its date.
-8-
16. Assignments Prohibited.
Neither this Agreement, nor any interest therein,
shall, except by will, intestate succession, or right of survivor-
ship, be assigned by Agency, either voluntarily, involuntarily,
by operation of law, or otherwise, without the written consent
of Seller.
19. Slumpstone Wall.
Agency agrees to pay the entire costs of erecting a
six (6) foot high Slumpstone wall, the material for which shall
be selected by Seller. Agency shall have the right to choose
the lowest bid. Said wall will run along the entire length of
the public walkway to be constructed on the easterly line of
the remaining Church property.
20. Future Assessments.
Agency agrees to indemnify and hold harmless Seller
from any assessments which may be or may be attempted to be
made upon Seller' s property in connection with improvements
made by Agency on the Site sold or surrounding property.
21. Trash Container.
Agency agrees to design and maintain a trash container
on the property adjacent to the remaining Church property,
which said trash container will be used by the businesses in
the redevelopment area.
22. Blacktop.
Agency agrees that a fifteen (15) foot wide area
shall be graded and paved with three (3) inch blacktop on the
-9-
westerly edge of the current Church lot in order to increase
parking on the remaining Church property. The costs thereof
shall be borne entirely by Agency.
23. Gate.
Agency will provide and install a gate to the existing
chain link fence which separates the Seller' s and Agency' s
present property. Said gate shall be designed and installed,
together with proper landscaping, all as reasonably specified
and approved by Seller.
24. Reserved Parking Spaces.
On the Site of the Agency' s present property, south
of the remaining Church property forty-five (45) parking
spaces shall be reserved for Church use during hours of
regular services which shall include , but not be limited to,
morning and evening masses seven (7) days per week and holy
days of obligation. The times and dates of such masses and
other Church services will be posted on the Site to be
developed. Agency and its successors agree that if future
assessments are made requiring a particular number of parking
spaces per square footage, that the Seller, operating
in the present location of Our Lady of Solitude
Catholic Parish, shall be exempt from any requirement for a
particular number of parking spaces. The Agency further
agrees that until this site is developed for parking; the
Church shall have the right to use the parking lot being
conveyed by this Agreement.
-10-
25. First Right of Refusal and Waiver of Parking
Requirement.
Seller shall give Agency first right of refusal to
purchase Our Lady of Solitude property upon intention to sell
to another party. A corporate entity of the Roman Catholic
Bishop of San Bernardino shall not be considered another
party. The Agency further agrees that the provisions in
Section 24 above be applicable to future buyers of the Church
property and that no additional restrictions shall apply if
the property is continued as a Church.
26. Attorney' s Fees.
Should any litigation be commenced between the
parties hereto concerning said Site, this Agreement, or the
rights and duties of either in relation thereto, the party,
Agency or Seller, prevailing in such litigation shall be
entitled, in addition to such other relief as may be granted,
to a reasonable sum as and for its attorney' s fees in such
litigation which shall be determined by the court in such
litigation or in a separate action brought for that purpose.
27. Notices.
Any and all notices or other communications required
or permitted by this Agreement or by law to be served on or
given to either party hereto by the other party hereto shall
be in writing and shall be deemed duly served and given when
personally delivered to any member of the party to whom it is
-11-
directed, or in lieu of such personal service when deposited
in the United States mail, first-class postage prepaid, addressed
to Agency and Seller as follows:
Agency: Redevelopment Agency of the City of Palm Springs
City of Palm Springs
P. 0. Box 1786
Palm Springs , California 92263
Seller: The Roman Catholic Bishop of San Bernardino
Diocesan Pastoral Center
1450 North "D" Street
San Bernardino, California 92405
With copies to:
Fullerton & Lemann
Attorneys at Law
472 N. Arrowhead Avenue
San Bernardino, California 92401
Either party, Agency or Seller, may change their address for
the purpose of this Section by giving written notice of such
change to the other party in the manner provided in this
Section 27 .
28 . Conflict of Interest.
No member, official or employee of the Agency shall
have any personal interest, direct or indirect, in this
Agreement nor shall any member, official or employee
participant in any decision relating to this Agreement which
affects his personal interest or the interests of any
corporation, partnership or association in which he is
directly or indirectly interested.
-12-
The Seller warrants that it has not paid or given,
and will not pay or give, any third person any money or other
consideration for obtaining this Agreement.
29. Brokers' Commissions . _
Neither the Seller nor the Agency shall be liable
for any real estate commissions or brokerage fees which may
arise from this Agreement. The Seller and the Agency each
represent that it has engaged no broker, agent or finder in
connection with this transaction.
30. Binding on Heirs and Successors.
This Agreement shall be binding on and shall inure
to the benefit of the heirs, executors , administrators,
successors , and assigns of the parties hereto, but nothing in
this Section contained shall be construed as a consent by
Seller to any assignment of this Agreement or of any interest
therein by Agency except as provided in Section 18 of this
Agreement.
31. Time of Essence.
Time is expressly declared to be the essence of this
Agreement.
32. Waiver.
The waiver of any breach of this Agreement by either
-13-
party shall not constitute a continuing waiver or a waiver of
any subsequent breach either of the same of another provision
of this Agreement.
33. Time for Acceptance by Agency.
This Agreement, when executed by the Seller and delivered
to the Agency, must be authorized, executed and delivered by
the Agency within thirty (30) days after the date of signature
by the Seller or this Agreement shall be void, except to the
extent that the Seller shall consent in writing to further
extensions of time for the authorization, execution and
delivery of this Agreement. The effective date of this
Agreement shall be the date when the Agreement has been signed
by the Agency.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first above written.
Dated: August :> , 1983 .
THE ROMAN CATHOLIC BISHOP OF
APPROVED ,AS TO FORM SAN BERNARDINO,
/GJ a Corporation Sole /✓/�yAttorne By: PTT:i /�F % r liing!, Biszfh,
p
Date ' v�(ELLER"Dated: August 1983.
REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS
Executive Director
"AGENCY"
ATFTES ' j' APPROVED BY `�H0 d:��'14AIW 98'Y C=Vy,,
Assist t Secretary ACEN':Y GY RES. NO.
-14-
EXHIBIT "A"
Real property in the County of Riverside, State of
California, more particularly described as follows:
The Westerly 170 feet of Lots 3 and 4 , Block No. 1
of Vista Acres in the City of Palm Springs , County
of Riverside, State of California as per map
recorded in Map Book 11, Page 2 in the office of the
County Recorder of Riverside County.
EXCEPTING THEREFROM the easterly rectangular 55
feet.
Assessor' s Parcel No. 505-324-002-3
-15-
, h
EXHIBIT "Bu
( PROMISSORY NOTE
$450 , 000 . 00 San Bernardino, California
September 6 , 1983
FOR VALUE RECEIVED, the undersigned, REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS , promises to pay to THE ROMAN CATHOLIC
BISHOP OF SAN BERNARDINO, a Corporation Sole, the sum of Four
Hundred Fifty Thousand Dollars ( $450 , 000 . 00 ) with interest from
the date hereof until paid at the rate of eight percent ( 8%) per
annum on the balance remaining unpaid. Principal and interest
shall be due and payable in lawful money of the United States of
Ames p installments as follows :
a> ne (1) year after the date this instrument bears the
sum of One Hundred Fifty Thousand Dollars ( $150, 000 . 00 )
principal and Thirty Six Thousand Dollars ( $36 , 000 . 00 )
interest for a total payment of One Hundred Eighty Six
Dollars ($186 , 000 . 00 ) ;
b. Two (2) years after the date this instrument bears the
sum of One Hundred Fifty Thousand Dollars ( $150, 000 . 00 )
principal and Twenty Four Thousand Dollars ($24, 000 .00 )
interest for a total payment of One Hundred Seventy
Four Dollars ( $174, 000 . 00 ) ;
C. Three (3 ) years after the date this instrument bears
the sum of One Hundred Fifty Thousand Dollars ( $150, 000 . 00 )
principal and Twelve Thousand Dollars ( $12 , 000 . 00 )
interest for a total payment of One Hundred Sixty Two
Thousand Dollars ($162, 000.00) .
If any installment is not paid when due, the whole sum of
both principal and interest shall become immediately due and
payable at the option of the holder of this note.
Every maker, guarantor, and indorser of this note and every
person who assumes the obligations of this note, agrees to pay
the following costs, expenses, and attorney' s fees paid or incurred
by the holder by this note, or adjudged by a Court: (1 ) reasonable
costs of collection, costs and expenses, and attorney' s fees paid
or incurred in connection with the collection, enforcement, or
sale of this note or any part of it, or of any security for it,
or of any covenant of this note or such security, whether or not
suit is filed; (2 ) costs of suit and such sum as the Court may
adjudge as attorney' s fees in any action to enforce payment of
this note or any part of it; and (3 ) costs of suit and such sum
as the Court may adjudge as attorney' s fees in any other litigation
or controversy connected with this note, or security for it,
including but not limited to actions for declaratory relief that
any such holder is required to prosecute or defend and actions
for relief based on rescission, or actions to cancel this note
that any such holder is required to defend.
Every maker, guarantor, and indorser of this note and every
person who in writing assumes the obligations of this note,
hereby waives all rights and benefits conferred by the statute of
limitations in any action on this note, or any security for this
note, to the extent permitted by Section 360. 5 of the California
Code of Civil Procedure.
-2-
Every maker, guarantor, and indorser of this note and every
person who assumes the obligations of this note (1) consents and
agrees to be bound by and comply with all promises, covenants,
agreements, and provisions of this note, and promises absolutely
and unconditionally to pay it when due, whether at maturity, by
acceleration, or otherwise; (2 ) consents to all waivers contained
in this note; (3 ) waives presentment, demand, protest, notice of
protest, notice of dishonor, notice of nonpayment, and notice of
any kind with respect to this note or any guaranty of it or the
performance of the obligations under the note or any guaranty of
it; (4) waives the right, if any, to the benefit of, or to direct
the application of, any security hypothecated to the holder until
all indebtedness of the makers to the holders shall have been
paid; (5 ) waives the right to require the holder to proceed
against any other person or pursue any other remedy before proceeding
against him, and except as otherwise required by law, waives the
right to require the holder to proceed against any security
before proceeding against him; and (6) agrees that no renewal or
extension of this note, including a renewal or extension in which
this note is surrendered, no change of rate of interest, no
release, surrender, or substitution of security for this note, no
modification of the terms of any security or other agreement
relating to this note, no release of or covenant not to sue or
covenant not to levy execution against property of any person
liable on this note, including any maker, guarantor, or indorser,
no delay in the enforcement of payment of this note or any guaranty
of it, and no delay or omission in exercising any right or power
-3-
under this note or any guaranty of it, shall affect his liability.
This note is secured by a deed of trust. Should maker sell
+t
or convey, or contract to sell or convey, the real property
encumbered by the trust deed securing this note, or any part of
it, or any interest in it, or should any part of it be taken or
condemned for a public use, or should- the improvements be damaged
or destroyed in whole or substantial part from any cause, then
the unpaid principal of this note and accrued interest shall, at
the option of the holder of this note, become immediately due and
payable.
Dated the day and year above written.
REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRI GS,
By
r
F.M.Bogert airman
Community edevelopment Agency
---- -- --- -- r'iiv of Palm Snrinnt
State of C A L 1 F,6 4 W f t+ On this the Z3oCdday of e P T 19--e�before me,
55. n
County of �l ✓FRS'1 D� / J l� t/F J , z ? A Q2 f1449LI-
the undersigned Notary Public,personally appeared
C /f 3beAA)A-1 GGMAI +QcritV
M . GoC,f� AQ. emC✓�✓ ni�a'd
OFFICIAL SEAL )K personally known tome
OLIVE S MARSHALL- ❑ proved to me on the basis of satisfactory evidence
•m NOTARY PUBLIC • CALIFORNIA to be the person(s)whose names) subscribed to the
RIVERSIDE COUNTY within instrument,and acknowledged that executed it.
MY comm. gzpims JUN To, T9146 9
WITNESS my hand and official seal.
Notary's Signature
GENERAL ACKNOWLEDGMENT FORM
-4-
Order No.
Escrow No.
Loan No.
WHEN RECORDED MAIL TO:
Fullerton & Lemann
472 North Arrowhead Avenue
San Bernardino, CA 92401
SPACE ABOVE THIS LINE FOR RECORDER'S USE
DEED OF TRUST WITH ASSIGNMENT OF RENTS
(LONG FORM)
This DEED OF TRUST, made August , 1983 between
Redevelopment Agency of the City of Palm Springs herein called TRUSTOR,
whose address is P . O. Box 1786 Palm Springs California 92263
(Number and Street) (City) (Stale)
FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation, hereincallod TRUSTEE, and
The Roman Catholic Bishop of San Bernardino, a corporation
sole , herein called BENEFICIARY,
WITNESSETH: That Truster grants to Trustee in Trust, with Power of Sale, that property in the
County of Riverside , Slate of California, described as:
Lots 3 and 4 in Block 1 of Vista Acres, as per Map
recorded in Book 11, page 2 of Maps , in the Office
of the County Recorder of said County.
Excepting therefrom the Easterly rectangular 55 feet.
Together with the rents, Issues amd profits thereof, subject, however,to the right,power and authority hereinafter given to and conferred upon Benefi-
ciary to collect and apply such rents, Issues and profits.
For the Purpose of Securing(11 payment of the sum of$ 4 5 0 , 0 00 . 00 with interest thereon according to the terms of a promissory note or
notes of even date herewith made by Truster,payable to order of Beneficiary,and extensions or renewals thereof,and (2) the performance of each agree
ment of Truster incorporated by reference or contained herein (3) Payment of additional sums and Interest thereon which may hereafter be loomed to
Trustor,or his successors or assigns,when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust.
A. To protect the security of this Dead of Trust,Trustor agrees:
(1) j TO keep cold properly m good condition and repair; not to remove or demolish any bul telling thereon; to complete or restore promptly and in good and
workmanlike mannerany buddinywhmh may be constructed,dumaged or destroyed thereon and to pay when due all claims for labor perlonnud and materials furnished
therefor; to comply with all laws affecting said property or requiring any alterations or improvements to be made thereon;not to commit Or permit waste thereof; not
to commit,sufferor permit any act upon said property in violation of law; to cultivate,irrigate,fertilize,fumigate,prune and do all other acts which from the character
or use of said property may be reasonably necessary,the specific enumerations herein not excluding the general.
(2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary.The amount collactud under any fire
ur other Insu ranee policy Rely be,applled by Beneficiary upon any indebtedness secured hereby and in such Order as BOnOlmiery may determine,or at option of Benu-
liciary the entire anwu n w cullur.tud or nay pall Ihumm(may bu raloused to Truster.Such application or release shall not cure or waive tiny default or notice of default
hereunder or invalidate any act done pursuant to such nil ice.
(3) To appear In and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustau; and to pay all
costs and expenses, Including cost of evidence of tide and attorney's fees in reasonable sum, in any such action or proceeding In which Beneficiary or Trustoo may
appear,and in any cull brought by Beneficiary to loreclose this Dead.
(4) To Pay. at least tell days before delinquency all taxes and assessments affecting said property, including assessments tin appw lennnt water stuck; when
due, all encumbrances, charges and hens, with interest,on said property or any part thereof,which appear to be prior or superior hereto; all costs, fees and oaponsus of
this Trust.
Should Truster fail to make any payment or to do any act as herein Provided,then Beneficiary or Trustee,but without Obligation so to do and without notice to
or demand upon Trustor and without reteasmg Truster from any obligation hereof,may: make or do Ili"same Oil such manner and to such axiom as ulthur may daunt
necessary to protect the security hereol,Beneliciary or Trustee being authorized to enter upon said property for such purPOses; appear in anti dunned any acbun or pro-
reeding purportingto affect the security hereof or the rights or powers of Beneficiary or Trustee;pay,purchase,contest or compromise any incurnbrance,charge or hen
which In the judgment of either appears to be prior or superior hereto;and,in exercising any such powers,pay necessary expenses,mnploy coons"! and P.-ay his reason.
able fees.
(5) To pay immediately and without demand all sums so expended by Rrnefiria•y er TrOct"c,wit e reofrest frurn acre Of expenditure anionsecured
at the amount allowed
by la- m effect st the date heres:�old ro Pay,at zpy statement provided for by law in effect at the date hereof regarding the obligation secured hereby any amount
demanded by the Beneficiary not to exceed the maximum allowed by law at the time when said statement is demanded.
B. It is mutually agreed:
(1) That any award of damages In connection with any condemnation for public use of or injury to said property or any part thereof Is nureby assigned and
shall he paid to Beneficiary who may apply or release such moneys received by him In the same Reamer and with the same effect as above provided for disposition of
proceeds of fire Or other insurance.
(2) That by accepting payment aI any sum secured hereby after its due data,Beneficiary does not waive his right either to require prompt payment when due
of all other sums so secured or to doeure default for failure so to pay.
(3) That at any time or from time to time, without liability therefor and without nonce,upon written request of Beneficiary and presentation of this Daud
and said note for endorsement, and without affecting the personal liability of any person for payment of the indebtedness secured hereby,Trustee['toy. reconvey any
part of said property; consent to the making of any map or plat thereof;join in granting any easement thereon;or loin in any extension agreement or any agreement
subordinating the lien or charge hereof.
(4) That upon written request of beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed and said note to Trustee
for cancellation and retention or other disposition as Trustee in its sole discretion may choose and upon payment of its fees,Trustee shall reconvey,without warranty,
the properly then held hereunder. The recitals In such reconveyance of any matters or fits shall be conclusive proof of the truthfulness tenon.The Grantee In such
reconveyance may be described as"the person or persons legally entitled thereto." ewer and authority,during the continuance of these Trusts,
(5) That as additional security,Truster hereby gives to and confers upon Beneficiary the right,p
to collect the rents,issues and profits of said property,reserving unto Truster the right,prior to any default by Truster in payment of any indebtedness secured hereby
or in pertormance of any agreement hereu odor,to collect and retain such rents,issues and profits as they become due and payable.Upon any such default,Beneficiary
person, by agent,Or by a receiver to be appointed by a court,and without regard to the adequacy Of any sownty (o•the in-
may at any time without notice, either in
eu
debtedness hereby secured,enter upon and take possession of said property or any part thereof,in his own.,one sue for or otherwise collect such rents,issues,an b d pro
its,including those past due and unpaid,and apply the same,less casts and expenses of operation and collection,including reasonable attorney's fees,upon any indebted-
ness secured hereby, and in such order as Beneficiary may determine.The entering upon and taking possession of said property,the collection of such roots, issues and
profits and the application thereof as aforesaid,shall not cure or we any default or notice of default hereunder or invalidate any act done pursuant to such notice.
1193 111/]0)
(B) Thnt upon default by Trustor in pant of any indebtedness secured hereby or in performance of any agreement hereunder,Beneficiary may declare ~
nil sunw severed homhy bnmadmlehy due and payable by dallvery to Trustee of written declaration of difficult and demand for sale and of written notice of default and
of ale,inn to ,euso to be sold said property,which notice Trusteo shall cause to be filed for record.Beneficiary also shall deposit with Trustee this Dead,said note and
all documnnls emdene mg ex lon idi lu to%sucu rot 1 horoby.
After the Iapso of such time as fully then be requlrod by law following thereeordatlon of said notice of default,and notice of sale having been given as then ro-
gptrud by taw, Trustor, without demand on Trustor, shall sell said property at the time and place fixed by It in said notice of ale,either as a whole or in separate par•
eels, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States,payable at time of sale.Trustee may
postpone sale of all or any portion of said property by public announcement at such time and place of sale,and from time to time thereafter may postpone such sale
by public announcement at the time fixed by the preceding postponement.Trustee shall deliver to such purchaser its deed conveying the property so sold,but with-
out any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof.Any person,
including Trustor,Trustee,or Beneficiary as hereinafter defined,may purchase at such sale.
After deducting all costs, fees and expenses of Trustee and of this Trust,including cost of evidence of title in connection with sale,Trustee shall apply the pro
ceedsof sale to payment of: all sums expended under the terms hereof,not then repaid,with accrued interest at the amount allowed by law in effect at the date hereof;
all other sums then secured hereby;and the remainder,if any,to the person or persons legally entitled thereto.
(7) Beneficiary, or any successor in ownership of any indebtedness secured hereby, may from time to time,by Instrument In writing,substitute a successor
or%ccessors to any Trustee named herein or acting hereunder,which mstrumenh executed by the Beneficiary and duly acknowledged and recorded in the office of
the r,x.orcler of the county or counties where said property is situated,shall be conclusive proof of proper substitution of such successor Trustee or Trustees,who shall,
without conveyance from the Trustee predecessor,succeed toall its title,estate,rights,powers and duties.Said instrument must contain the name of the original Trustor,
Trustee and Beneficiary hereunder,the book and page where this Deed Is recorded and the name and address of the new Trustee.
(8) That this Deed applies to, mutes to the benefit of,and binds all parties hereto,their heirs,legatees,devisees,administrators,executors,successors and as-
signs. The term Beneficiary shall mean the owner and holder,including pledgees,of the note secured hereby,whether or not named as Beneficiary herein.In this Deed,
whenever the context so requires,the masculine gender includes the feminine and/oF neuter,and the singular number includes the plural.
(9) That Trustee accepts this Trust when this Deed,duly executed and acknowledged,is made a public record as provided by law.Trustee is not obligated to
notify any party hereto of pending sale under any other Deed of Trust or of any'action or proceeding in which Trustor,Beneficiary or Trustee shall be a party unless
brought by Trustee.
Iho undersigned Trustor, requests ]het a copy of any notice of default and of any notice of sale hereunder be mailed to him at his address
hefainbefore set forth.
RedevelopmmriL- hgL4frf� f Tr,6 he City Of Signnluro of Trustor
Palm Springs 77 Y
By
STATE OF CALIFORNIA,
COUNTY of
before me, ilia undersigned, a Notary Public in end for said Simla., personally appearecl
known In use to be the person whose name—.__.__, ._._subscribed to the within instrument and acknowledged that_
executed the same.
WITNESS my hand and official seal.
Signature__.
(This area for ofTclal notarial seal)
DO NOT RECORD REQUEST FOR FULL RECONVEYANCE
TO FIRST AMERICAN TITLE INSURANCE COMPANY,TRUSTEE:
'file unclersignecl is the legal owner and holder of the note or notes, and of all other indebtedness secured by the foregoing Deed of Trust, Said
out, ei nolm, together with all other inclebtedness secured by said Deed of Trust, have been fully paid and satisfied; and you are hereby requested and
directed, on payment to you of any sums owing to you under ilia terms of slid Deed of Trust, to cancel said note or notes above mentioned, and all other
evidences of indebtedness secured by said Deed of Trust delivered to you herewith, together with the said Deed of Trust, and to reconvey, without war.
,rely, to the parties designated by the terms of said Deed of Trust, all the estate now held by you under the same.
Doled
Please mail Door of Trust,
Note and Reconvuyance la_
Da nil lose or destroy this Deed of Trust OR THE NOTE which it secures.Both must he delivered to the Trustee far canceliat:on heEora reconveyance will he made.
LIJ
V 1 J
< UP � N
tL v V
C
pa.e p x i ro
DC W C� D fa LU
L w
L 7.
L U) Q U)
O Q E
CL r O
= to
r v
LJ 3 f U_
,Y