RECORDING
REQUESTED BY
AND WHEN RECORDED MAIL TO
NAME
ADDRESS
CITY
STATE & ZIP
TITLE ORDER NO. ESCROW
NO. APN
NO.
SHORT FORM DEED OF TRUST AND
ASSIGNMENT OF RENTS (INDIVIDUAL)
This Deed of
Trust, made this day of , between
, herein called Trustor,
whose address is
Stewart Title of California, Inc., herein called Trustee,
and
,
herein called Beneficiary,
Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS
TO TRUSTEE IN TRUST, WITH POWER OF
TOGETHER
WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right,
power and authority given to and conferred upon Beneficiary by paragraph (10)
of the provisions incorporated herein by reference to collect and apply such
rents, issues and profits.
For the Purpose of Securing: 1. Performance of
each agreement of Trustor incorporated by reference or contained herein. 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
$_____________________________________ executed by Trustor in favor of
Beneficiary or order. 3. Payment of such
further sums as the then record owner of said property 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: By the execution and delivery of this Deed of Trust and the
rate secured hereby, that provisions (1) to (14), inclusive, of the fictitious
deed of trust recorded October 23, 1961, 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, viz.:
COUNTY DATE BOOK PAGE COUNTY DATE BOOK PAGE COUNTY DATE BOOK PAGE COUNTY DATE BOOK PAGE
IMPERIAL 9/10/68 1267 574 ORANGE 9/6/68 8714 147 SAN
BERNARDINO 9/6/98 7090 14 SANTA BARBARA 9/6/68 2244 922
KERN 9/6/68 4195 363 VENTURA 9/6/68 3363 84 SAN
LUIS OBISPO 9/10/68 1489 429 LOS ANGELES 8/28/68 T5910 842
RIVERSIDE 9/10/68 ACCOUNT = 87097 YEAR 1968
(which provisions, identical in all counties, are printed on
the reverse hereof) hereby are adopted and incorporated herein and made a part
hereof as fully as though set forth herein at length; that he will observe and
perform said provisions; and that the references to property, obligations, and
parties in said provisions shall be construed to refer to the property,
obligations, and parties set forth in this Deed of Trust.
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.
______________________________________________________ ______________________________________________________
______________________________________________________ ______________________________________________________
State
of
County
of _________________________________________
On
__________________before me, (here insert name and title of the officer),
personally appeared __________________, who 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.
I
certify under PENALTY OF PERJURY under the laws of the State of
WITNESS
my hand and official seal.
Signature
____________________________________________ (Seal)
DO NOT RECORD
The
following is a copy of provisions (1) to (14), inclusive, of the fictitious
deed of trust, recorded in each county in California, as stated in the
foregoing Deed of Trust and incorporated by reference in said Deed of Trust as
being a part thereof as if set forth at length therein
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
violations 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 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 rights 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 plot thereof; join in
granting any easement thereon; or join in any extension agreement or any
agreement subordinating the lien or charge hereof.
(9) That
upon written request of Beneficiary state 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 "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 give 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 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 named herein or acting hereunder, which instrument,
executed by the Beneficiary and duly acknowledged and recorded in the office of
the recorder 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
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
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/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.
_________________________________________________________________________________________________
DO NOT RECORD
REQUEST FOR
FULL RECONVEYANCE
To be used only when note has been paid:
To Stewart Title of California, Inc., Trustee: Dated
_________________________________
The undersigned
is the legal owner and holder of all indebtedness secured by the within Deed of
Trust. All sums 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 the terms of said Deed of Trust, to cancel all
evidences of indebtedness, secured by said Deed of Trust, delivered to you
herewith together with said Deed of Trust, and to reconvey, without warranty,
to the parties designated by the terms of said Deed of Trust, the estate now
held by you under the same.
MAIL RECONVEYANCE TO:
By
___________________________________________ ________________________________________________
By
___________________________________________ ________________________________________________
________________________________________________
Do not lose or destroy this Deed of Trust OR THE NOTE which
it secures. Both must be delivered to the Trustee for cancellation before
reconveyance will be made.
DOCUMENT
PROVIDED BY STEWART TITLE OF
CALIFORNIA, INC. SHTFRMDT.DOC