Exhibit 10.4(c)
RECORDING REQUESTED BY
AND WHEN RECORDED, MAIL TO
Name
Address
Title Order No. _________________ Escrow No.
__________________
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SPACE ABOVE THIS LINE FOR RECORDERS USE
Loan No. ____________________________________________________
DEED OF TRUST AND ASSIGNMENT OF RENTS
BY THIS DEED OF TRUST, made this day of , 19
between
herein called Trustor, whose address is
and , a California corporation, herein called Trustee, and
, herein called Beneficiary,
Trustor grants, transfers, and assigns to Trustee, in trust, with power of
sale, that property in_______________________ County, California, described as:
Trustor also assigns to Beneficiary all rents, issues and profits of said
realty reserving the right to collect and use the same except during continuance
of default hereunder and during continuance of such default authorizing
Beneficiary to collect and enforce the same by any lawful means in the name of
any party hereto.
For the purpose of securing:
(1) Payment of the indebtedness by one promissory note in the principal sum
of $ of even date herewith, payable to Beneficiary, and any extensions or
renewals thereof; (2) the payment of any money that may be advanced by the
Beneficiary to Trustor, or his successors, with interest thereon, evidenced by
additional notes (indicating they are so secured) or by endorsement on the
original note, executed by Trustor or his successor; (3) performance of each
agreement of Trustor incorporated by reference or contained herein.
On October 25, 1973, identical fictitious Deeds of Trust were recorded in
the offices of the County Recorders of the Counties of the State of California,
the first page thereof appearing in the book and at the page of the records of
the respective County Recorder as follows:
COUNTY BOOK PAGE COUNTY BOOK PAGE
Alameda 3540 89 Marin 2736 463
Alpine 18 753 Mariposa 143 717
Xxxxxx 250 243 Mendocino 942 242
Butte 1870 678 Merced 1940 361
Calaveras 368 92 Modoc 225 668
Colusa 409 347 Mono 160 215
Contra Costa 7077 178 Monterey 877 243
Del Norte 174 526 Napa 922 96
El Dorado 1229 594 Nevada 665 303
Fresno 6227 411 Orange 10961 398
Xxxxx 565 290 Placer 1528 440
Humboldt 1213 31 Plumas 227 443
Imperial 1355 801 Riverside 1973 139405
Inyo 205 660 Sacramento 731025 59
Xxxx 4809 2351 San Xxxxxx 386 94
Kings 1018 394 San Bernadino 8294 877
Lake 743 552 San Francisco B820 585
Lassen 271 367 San Xxxxxxx 3813 6
Los Angeles T8512 751 San Xxxx Obispo 1750 491
Madera 1176 234 San Mateo 6491 600
Santa Xxxxxxx 2486 1244
Santa Xxxxx 0623 713
Santa Xxxx 2358 744
Shasta 1195 293
Sierra 59 439
Siskiyou 697 407
Xxxxxx 1860 581
Sonoma 2810 975
Stanislaus 2587 332
Sutter 817 182
Tehema 630 522
Trinity 161 393
Tulare 3137 567
Tuolumne 396 309
Ventura 4182 662
Yolo 1081 335
Yuba 564 163
San Diego File No.
73-
299568
The provisions contained in Section A, including paragraphs 1 through 5,
and the provisions contained in Section B, including paragraphs 1 through 9 of
said fictitious Deeds of Trust are incorporated herein as fully as though set
forth at length and in full herein, except certain amendments to the fictitious
Deed of Trust are set forth on an amendment attached hereto and incorporated
herein. The undersigned Trustor requests that a copy of any notice of default
and any notice of sale hereunder be mailed to Trustor at the address hereinabove
set forth, being the address designed for the purpose of receiving such notice.
The Note securing this Deed of Trust provides as follows: Borrowers required
repayment in full before scheduled date A. In the event of any sale or
conveyance of any part of the real property described in the Deed of Trust
securing this Note, then the Note Holder may demand payment in full of all
amounts that I owe under this Note, as allowed by law.
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DO NOT RECORD - Provisions incorporated from Recorded Fictitious Deed of Trust
A. TO PROTECT THE SECURITY HEREOF, TRUSTOR AGREES: (1) To keep said
property in good condition and repair, preserve thereon the buildings, complete
construction begun, restore damage or destruction, and pay the cost thereof; to
commit or permit no waste, no violation of laws or covenants or conditions
relating to use, alterations or improvements; to cultivate, irrigate, fertilize,
fumigate, prune, and do all other acts which the character and use of said
property and the estate or interest in said property secured by this Deed of
Trust may require to preserve this security.
(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
Beneficiary may release all or any part thereof 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 attorneys
fees in a reasonable sum, in any such action or proceeding in which Beneficiary
or Trustee may appear.
B. IT IS MUTUALLY AGREED THAT: (1) 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 to Beneficiary, who may apply or release such moneys
received by him in the same manner and with the same effect as provided for
disposition of proceeds of fire or other insurance.
(2) By accepting payment of any sum secured hereby after its due date,
Beneficiary does not waive his right either to require payment when due of all
other sums so secured or to declare default for failure so to pay.
(3) 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 thereof;
join in granting any easement thereon; or join in any agreement extending or
subordinating the lien or charge hereof.
(4) Upon written request of Xxxxxxxxxxx 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 the
person or persons legally entitled thereto.
(5) 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 said property to be sold, which notice Trustee shall cause
to be duly filed for record. Beneficiary also shall deposit with Trustee this
Deed, said note and all documents evidencing expenditures secured hereby.
Trustee shall give notice of sale as then required by law, and without
demand on Trustor, at least three months having elapsed after recordation of
such notice of default, shall sell said property at the time and place of sale
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.
(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 seven per cent
per annum, and to pay for any statement provided for by law regarding the
obligations secured hereby in the amount demanded by Beneficiary, not exceeding
the maximum amount permitted by law at the time of the request therefore.
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, expressed 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 seven per cent per annum; all other
sums then secured hereby; and the remainder, if any, to the person or persons
legally entitled thereto.
(6) This Deed applies to, inures to the benefit of, and binds all parties
hereto, their legal representatives and successors in interest. The term
Beneficiary shall include any future owner and holder, including pledgees, of
the note secured hereby. In this Deed, whenever the context so requires, the
masculine gender includes the feminine and/or neuter, and the singular number
includes the plural.
(7) Trustee accepts this Trust when this Xxxx, xxxx 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.
(8) The Trusts created hereby are irrevocable by Trustor.
(9) Beneficiary may substitute a successor Trustee from time to time by
recording in the Office of the Recorder or Recorders of the county where the
property is located an instrument stating the election by the Beneficiary to
make such substitution, which instrument shall identify the Deed of Trust by
recording reference, and by the name of the original Trustor, Trustee and
Beneficiary, and shall set forth the name and address of the new Trustee, and
which instrument shall be signed by the Beneficiary and duly acknowledged.
