HomeMy WebLinkAboutDeed 2007-09-13 (Curran/Sale)
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(,/ [;
/ l) RECORDING REQUESTED BY:
~~ -p Old Republic Title Company
ORDER #: 0222007587
APN #: 043-401-11
1111111111111111111111111 III IIIII1
WHEN RECORDED MAIL TO
2007-0055508
Recorded I REC FEE 28.00
Official Records
County of
Marin
JOAN C. THAYER l
Assessor-Recoroer I
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08:24AM 18-Sep-2007 I Page 1 of 5
Town of Tiburon
1505 Tiburon Blvd
Tiburon, CA 94920
SPACE ABOVE THIS LINE FOR RECORDERS USE
Deed of Trust a~d Assignment of Rents
This Deed of Trust, made this 13th day of September, 2007, between Josh Sale and Margaret Ann Curran, husband
and wife, as community property with right of survivorship, herein called TRUSTOR,
whose address is 150 Chapel Drive, Mill Valley, CA 94941, OLD REPUBUC TITLE COMPANY, a California corporation,
herein called TRUSTEE,
And
Town of Tiburon, herein called BENEFICIARY,
Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF
SALE, that property in Marin County, California, described as:
See "Exhibit A" attached hereto and made a part hereof.
property commonly known as 150 Chapel Drive, Mill Valley, Ca.
THE DEED OF TRUST WHICH SECURES THE WITHIN NOTE CONTAINS THE FOLLOWING PROVISION: "In the event
the herein described property, or any part thereof, or any interest therein, is sold, agreed to be sold, conveyed or
alienated by the Trustor, or by the operation of law or otherwise, all obligations secured by this instrument, irrespective
of the maturity dates expressed therein, at the option of the holder hereof, and without demand or notice, shall
immediately become due and payable."
Together With the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority hereinafter
given to and conferred upon Beneficiary to collect and apply such rents, issues and profits.
For the Purpose of Securing:
1. Performance of each agreement of Trustor herein contained. 2. Payment of the indebtedness evidenced by one
promissory note of even date herewith, and any extension or renewal thereof, in the principal sum of $800,000.00
executed by Trustor in favor of Beneficiary or order. 3. Payment of such further sums as the then record owner of said
Deed of Trust and Assignment of Rents, Page 1 of 4
property hereafter may borrow from Beneficiary, when evidenced by another note (or notes) reciting it is so secured.
To Protect the Security of This Deed of Trust, Trustor Agrees:
(1) To keep said property in good condition and repair; not to remove or demolish any building thereon; to complete or
restore promptly and in good and workmanlike manner any building which may be constructed, damaged or destroyed
thereon and to pay when due all claims for labor performed 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, suffer or 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 collected under any fire or other insurance policy may be applied by Beneficiary upon any indebtedness
secured hereby and in such order as Beneficiary may determine, or at option of Beneficiary the entire amount so
collected or any part thereof may be released to Trustor. Such application or release shall not cure or waive any
default or notice of default hereunder or invalidate any act done pursuant to such notice.
(3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers
of Beneficiary or Trustee; and to pay all costs and expenses, including cost of evidence of title and attorney's fees in
a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit
brought by Beneficiary to foreclose this Deed.
(4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including
assessments on appurtenant water stock; when due, all encumbrances, charges and liens, with interest, on said
property or any part thereof, which appear to be prior or superior hereto; all costs, fees and expenses of this Trust.
Should Trustor 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 releasing Trustor from any
obligation hereof, may: make or do the same in such manner and to such extent as either may deem necessary to
protect the security hereof, Beneficiary or Trustee being authorized to enter upon said property for such purposes;
appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of
Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or lien which in the
judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay necessary
expenses, employ counsel and pay his reasonable fees.
(5) To pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest from date
of expenditure at the amount allowed by law in effect at the date hereof, and to pay for any 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.
(6) That any award of damages in connection with any condemnation for public use of or injury to said property or
any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received
by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or other
insurance.
(7) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right
either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay.
(8) That at any time or from time to time, without liability therefor and without notice, upon written request of
Beneficiary and presentation of this Deed and said note for endorsement, and without affecting the personal liability
of any person for payment of the indebtedness secured hereby, Trustee may: reconvey any part of said property;
consent to the making of any map or plat thereof; join in granting any easement thereon; or join in any extension
agreement or any agreement subordinating the lien of charge thereof.
(9) 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 and upon payment of its fees, Trustee
shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters
or facts shall be conclusive proof of the truthfulness thereof. The grantee in such reconveyance may be described as
Deed of Trust and Assignment of Rents, Page 2 of 4
"the person or persons legally entitled thereto". Five years after issuance of such full reconveyance, Trustee may
destroy said note and this Deed (unless directed in such request to retain them).
(10) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and authority,
during the continuance of these Trusts, to collect the rents, issues and profits of said property, reserving unto Trustor
the right, prior to any default by Trustor in payment of any indebtedness secured hereby or in performance of any
agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any
such default, Beneficiary may at any time without notice, either in person, by agent, or by a receiver to be appointed
by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and
take possession of said property or any part thereof, in his own name sue for or otherwise collect such rents, issues
and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and
collection, including reasonable attorney's fees, upon any indebtedness secured hereby, and in such order as
Beneficiary may determine. The entering upon and taking possession of said property, the collection of such rents,
issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default
hereunder or invalidate any act done pursuant to such notice.
(11) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any
agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to
Trustee of written declaration of default and demand for sale and of written notice of default and of election to cause
to be sold said property, which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with
Trustee this Deed, said note and all documents evidencing expenditures secured hereby.
After the lapse of such time as may then be required by law following the recordation of said notice of default, and
notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell said
property at the time and place fixed by it in said notice of sale, either as a whole or in separate parcels, and in such
order as it may determine, at public auction to the highest bidder for cash 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 without 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 proceeds of sale to payment of: all sums expended under the terms
hereof, not then repaid, with accrued interest at the amount allowed by law in effect at the date hereof; all other
sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto.
(12) Beneficiary, or any successor in ownership of any indebtedness secured hereby, may from time to time, by
instrument in writing, substitute a successor or successors to any Trustee nam"ed herein or acting hereunder, which
instrument, executed by the Beneficiary and duly acknowledged and recorded in the office" of the reco"rder of the
county or counties where said property is situated, shall be conclusive proof of proper substitution of such successor
Trustee orTrustees, who shall, without conveyance from the Trustee predecessor, succeed to all 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.
(13) That this Deed applies to, inures to the benefit of, and binds all parties hereto, their heirs, legatees, devisees,
administrators, executors, successors and assigns. The term Beneficiary shall mean the owner and holder, including
pledges, 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/or neuter, and the singular number includes the plural.
(14) 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.
The undersigned Trustor requests that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed
to him at his address hereinbefore set forth.
Deed of Trust and Assignment of Rents, Page 3 of 4
Yfl
Josh Sale
Vll{~1;(!C c '---'--
Margaret A. Curran
State of California
County of San Francisco
'Wll1 before me, \kJ\eA., \du,Y'i\aJ. a
Notary P blic in and for said State, personally appeared Josh Sale and Margaret Ann Curran, 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.
On
~
Signature
HELEN DUMONT ~
COMM. # 1545386 "
~ · NOTARY PUGLiC-CALifORNIA \110
~ SAN FRANC:Y;~O COUNTY ....
J ___ __ __ :~~ ~~:20~ ~.
Name:
(typed or printed)
(Seal)
Deed of Trust and Assignment of Rents, Page 4 of 4
ORDER NO. : 0222007587-HD
EXHIBIT A
The land referred to is situated in the unincorporated area of the County of Marin, State of
California, and is described as follows:
Lot 22, as shown upon that certain Map entitled, "Map of Seminary Ridge - Phase I, being a
Subdivision of the Lands of Golden Gate Baptist Theological Seminary, Strawberry, Marin
County, California", filed for record July 10, 1990 in Volume 20 of Maps, at Page 84, Marin
County Records.
APN; 043-401-11
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