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Recording Requested By and
When Recorded Mail To:
( ',9-1237072
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, IlECORDED IN Off1C~U~~~~
OF LOS ANGELES
NOV 2 1979 AT 8 A.M.
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City of Arcadia
240 W. Huntington Drive
Arcadia, Caiifornia 91006
Recorder's Office
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DEED OF TRUST AND ASSIGNMENT OF RENTS
THIS DEED OF TRUST, made this 17th day of October ,1922,
Between BOWDEN CONSTRUCTION, INC, a California Corporation
of in the City of Arcadia
County of Los Angeles , State of California, herein called
TRUSTOR, BANK OF AMERICA NATIONAL TRUST AN~ SAVINGS ASSOCIATION, a
national banking association, herein called TRUSTEE, and
CITY OF ARCADIA, a Municipal corporation
WITNESSETH: That Trustor irrevocably GRANTS, TRANSFERS AND ASSIGNS
to TRUSTEE IN TRUST, WITH POWER OF SALE, that property in Los Angeles
County, California, described as set forth in Exhiibit "A" which is
attached hereto and by this reference incorporated herein,
TOGETHER with the rents, issues and pl"ofi ts thereof, SUBJECT HOWEVER,
to the right, power and authority given to and conferred upon Beneficiary
by Section B, Paragraph 5, hereinafter, to collect and apply such rents,
issues and profits, FOR THE PURPOSE OF SECURING: (1) payment of the
indebtedness evidenced by one Promissory Note of even date herewith in
the principal sum of ~1~4000.00 payable to Beneficiary or
order, and (2) the performance of each agreement contained herein.
For any statement regarding the obligation secured hereby, Benefici-
ary may charge the maximum amount permitted b1 law at the time of the
request therefor. The undersigned Trustor requests ~hat a copy of any
Notice of Default and of Sale hereunder be mailed to him at his address
given above. Five years after issuance of a Full Reconveyance, Trustee
may destroy said Note and Deed of Trust.
A. 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 per'mi t 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 necessaty, the specific enumerations herein not excluding
the general.
2. To provide, maintain and deliver to Beneficiary fire insurance
satisfactory to and with mortgage clause 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.
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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.
4. To pay: at least ten days before delinquency all taxes and
assessments affecting said property, including assessments on appurt-
enant water stock; when due, all incumbrances, 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, the 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 compro-
mise any incumbrance, 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
percent per annum.
B. IT IS ~UTUALLY 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 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.
2. 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.
3. At any time or from time to time, without liability therefor
and without notice, upon written request of Beneficiary and presenta-
tion 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 all or 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 or charge hereof.
4. 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, Trust~e 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."
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5. As additional security, Trustor hereby gives to and confers
upon Beneficiary the right, power and authority, during the continu-
ance 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 may.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 Benefi-
ciary 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.
6. 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 duly filed for record.
Beneficiary 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 follow-
ing 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 (but subject to any statutory right of Trustor
to direct the order in which such property, if consisting of several
known lots or parcels shall be sold), at public auction to the highest
bidder for cash in lawful money of the United States of America, pay-
able at time of sale. Trustee may postnone 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 an-
nouncement at the time fixed by the preceding postponement. Trustee
shall deliver to such purchaser its deed conveying the property so
sold, hut without any covenant or warranty, express or implied, The
rec~tals 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
~nterest 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.
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7. Trustor, or if said property shall have been transferred,
the then record owner, together with Beneficiary, may from time to
time, bv instrument in writing, substitute a successor or successors
to any Trustee named herein or acting hereunder, which instrument,
executed and acknowledged by each 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, Beneficiary hereunder; the book and page where this
Deed is recorded, and the name and address of the new Trustee. If
notice of default shall have been recorded, this power of substitution
cannot be exercised until after the costs, fees and expenses of the
then acting Trustee shall have been paid to such Trustee, who shall
endorse receipt thereof upon such instrument of substitution. The
procedure herein provided for substitution of Trustee shall be ex-
~lusive of all other provisions for substitution, statutory or other-
wise.
8. This Deed applies to, inures to the henefit of, and binds all
parties hereto, their heirs, legatees, devisees, administrators,Cex-
ecutors, 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, masculine gender includes the feminine and/
or neuter, and the singular number inc,ludes the plural.
9. 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 proceed~ng ~n which Trustor,
Beneficiary or Trustee shall be a party unless brought by Trustee.
10. Benefic~ary shall have the right, at ~ts option, to declare
~~y indebtedness or obli~ations secured hereby, regardless of the
l"aturity date specified in any note evidencing the same, immediately
due and payable if:
(1) Trustor assigns the rents, issues, or profits of the
premises and property or any part thereof without the prior written
consent thereto of Beneficiary.
(2) After application by ~eneficiary to two or more fire
insurance companies lawfully doing business in the State of California
and issuing fire insurance on bu~ldings situate in the place where
the property is situated, the companies to which such application has
been made refuse to issue such policies.
(3) A petition in bankruptcy, or for debtor's extension of
time, or any other relief under the Bankruptcy Act or any other state
or federal insolvency law, as now existing or as hereafter amended,
is filed by Trustor or by the then owner of the property: or if any
of such persons is adjudicated bankrupt; or ~f any petition filed
against any of such persons under the provisions of the Bankruptcy
Act is approved: or if a general assignment for the benefit of creditors
is made bv any of such persons.
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, ",9-1237072
STATE OF CALIFORNIA } 'SS.
COUNJiY OF ./J;JS /-hJ~LeS
On f '; ~~;T'() /?:J ~f/Z - / <7 7 9' before , the undersigned, a Notary Public io and for said
Slale, personally appeared /L. - () e. , '" J ')
known to me to be the President,
known to me to be Secretary
of the corporation that executed the within Instrument,
known to me to he the persons who executed the within
Instrument on behalf of the corporation therem named, and
acknowledged to me that such corporation executed the
wlthm instrument pursuant to Its by-laws or a resolution of
Its board of directors.
TO I1l4:) CA (li-7.)
(Corporation)
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WITN ESS my hand
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Signature
.rgTTT\.E INSURANCE
'19-1237072 ~ AND mUST
A ncoA COMPIt.HY
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~ Q PATTY A. MULLEN
~... NOTARY PUBLIC CALIFORNIA
.. f'RINCIPAl OFFICE IN
~ ,." LOS ANGELES COUNTY I
g My CommiSSIon Expires Jan. 4, 1981 f
iillMllnlmllllll1llllll11lllllUIIIllUlIIIIllIIIllIllIIIIUllllIUl1l11111UIIIIUIIIIIUIIIIIUWlIWUlIuf
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10. (4) Trustor sells, conveys, alienates, or further en-
cumbers the premises or property, or any part thereof, or any in-
terest therein in any manner, whether voluntary or involuntary.
Trustor may transfer or assign property with Beneficiary's written
consent provided Beneficiary approves the transferee's or assignee's
credit reDort and financial statement. Such consent and approval
shall not be unreasonably withheld.
(5) Trustor, on twenty (20) days' written request but not
more than at yearly intervals, will furnish to Beneficiary a written
statement containing the names of all tenants occupying the premises,
the terms of their respective tenancies, and the arrearages in their
respective accounts, if any. In the event of a sale of the premises,
Trustor will so furnish, without prior request, a written statement
setting forth the name of the purchaser, the selling price, and the
terms of such sale.
(6) Trustor shall advise Beneficiary in writing within
twenty (20) days after the service on him of any summons or other
process or notice issued in any action, suit, proceeding or matter
affecting, or in which any judgment, decree, order or determination.
may affect or result in any lien or charge on the property covered
in this Deed of Trust.
(7) Trustor causes or permits any levy of attachment,
execution, lien, or claim of lien to be placed against subject pro-
perty and does not within thirty (30) days cause it to be cleared
from the record.
(8) Trustor makes payments of principal together, with down
payment to Beneficiary or on Beneficiary's behalf, during calendar
year 1979 in excess of thirty percent (30%) of purchase price.
11. All obligations of the undersigned hereunder shall be joint
and several~
12.
portion
This is a purchase money Deed of Trust and is given as a
of the purchase price.
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SIGNATURE OF~TRUSTOR ~_ ,NO-.
B~JNCON~JR NC.~ ,
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BY: ,.
President
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BY:
STATE- OF CALIFORNIA )
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COUNTY OF LOS ANGELES )
Secretary
ss
On this
day of
,19 ,before me,
, a Notary Publ~c in and for
said County, perso;ally appeared
known to me to be the person(s) whose name(s)
subscribed to the within instrument and acknowledged that
executed the same.
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All that r~?1~property'loca~~d, in the City of
of Los Ange1es, State of California described
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Lots 16 an'di J'7 and those portions o"f' Lots 11 through ;15 in.,,;,", ,; '" .,
,clusive of 1;-'he Haven ,Tract, in' the. City of Arcadia, as sho~~;" ..
o,n map reporded in Book 13;. Pages 22 and 23, in the,offic.e";;.,, ,'..'..
of the County Recorder of. s~i(r. County, bounaed Northwest,erly" ,",
and Northea~terly by'the following described line: "
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EXHIBIT
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LEGAL DESCRIPTION
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Arcadia,' County.
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, Beginning at a. point "i'n the Westerl;5 line of said Lot fl,,5',
distant. along said Westerli. line South 1 04' 13" eas,t ;! 0.00'"
feet 'fro@ the Northwesterly" corner of "said Lot 15; thence ,\,
North 64 57' 12" East 49.25 feet to the Northerly line of
said Lot '15; "thence in 'a direct" line Southeasterly to a':point
in the Southerly line,of said Lot 11, distant thereon No~t~,.
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.88 54' 49" East 17.47 feet from tIle Southwesterly corner ,of"
said ..,Lot 11. ,~ :' ..
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OCT 2
;979
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