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FREE RECORDING
<br />This instrument is for the benefit of the City of
<br />Riverside and is entitled to be recorded without
<br />fee (Government Code 6103).
<br />and when recorded mail to:
<br />City of Riverside
<br />3900 Main Street, 5th Floor
<br />Riverside, CA 92522
<br />
<br />DOC ~ 2003--292008
<br />
<br /> Ra=ordad ~n O¢¢Jc~aJ Records
<br /> County o¢ R~vera~de Gary L. Orso
<br /> County Clerk & Reoorder
<br />
<br /> LONG FORM DEED OF TRUST AND ASSIGNMENT OF RENTS
<br /> La .)~erra Apartment Owners
<br />
<br />BY THIS DEED OF TRUST, madethis ~ dayof-jc¥~--,2003, between DanaL.L~s,
<br />a married man, as sole and separate property, herein called Trustor, whose address is
<br />13 Corporate Plaza Drive #200, Newport Beach, CA 9266~). and the Redevelopment Agency of the,~
<br />City of Riverside, California, herein cafled Beneficiary anc[~'rustee. ..~--~ [,'J~ ,/'//~e/~'~..-,
<br />Trustor grants, transfers, and assigns 1:o Trustee in trust, with power of sale, that property in the City
<br />of Riverside, Riverside County, California, described as:
<br />
<br />Legal Description attached hereto as Exhibit "A".
<br />Assumption Provisions attached hereto as Exhibit "B".
<br />Additional Trustor Obligations :Secured by this Deed of Trust attached
<br />hereto as Exhibit "C".
<br />
<br />Together with the rents, issues and profits thereof, subject, however, to the right, power and authority
<br />hereinafter given to and conferred upon Baneficiary to collect and apply such rents, issues and profits for the
<br />purpose of securing:
<br />
<br />(1) Payment of the indebtedness by one promissory note in the principal sum of $50,000.00 of even date
<br />herewith, payable to Beneficiary, and any extensions or renewals thereof; (2) the payment of any money that
<br />may be advanced by the Beneficiary to Trustor, or his successors, with interest thereon, evidenced by
<br />additional notes (indicating they are so secured) or by endorsement on the original note, executed by Trustor
<br />or his successor; (3) performance of each agreement of Trustor by reference or contained herein.
<br />A. To protect the security of this Deed of Trust, Trustor agrees:
<br /> (1) To keep said property in good condition and repair; not to remove or demolish any building thereon; to
<br />complete or restore promptly and in good and workmanlike manner any building which may be constructed,
<br />damaged or destroyed thereon and to pay due all claims for labor performed and materials furnished therefor;
<br />to comply with all laws affecting said property or requiring any alterations or improvements to be made
<br />thereon; not to commit or permit waste thereof; not to commit, suffer or permit any act upon said property in
<br />violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character or
<br />use of said property may be reasonably necessary, the specific enumerations herein not excluding the
<br />general.
<br /> (2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to
<br />Beneficiary. The amount collected under any fire or other insurance policy may be applied by Beneficiary
<br />upon any indebtedness secured hereby and in such order as Beneficiary may determine, or at option of
<br />Beneficiary the entire amount so collected or any part thereof may be released to Trustor. Such application
<br />or release shall not cure or waive any default or notice of default hereunder or invalidate any act done
<br />pursuant to such notice.
<br /> THIS INSTRUMENT FILED FOR RECOR[
<br /> BY FIRST AMERICAN TITLE INSURANCI
<br /> COMPANY AS AN AccOMODATIOt
<br /> ONLY· IT HAS NOT BEEN EXAMINED A
<br /> TO iTS EXECUTION OR AS TO iT
<br /> EFFECT UPON THE TITLE
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