14-092 Housing Rehabilitation Program Owner Participation Agreement-Patricia Agreement FIRST AMENDMENT TO
CITY OF CUPERTINO
HOUSING REHABILITATION PROGRAM
OWNER PARTICIPATION AGREEMENT
(Patricia Bustamante)
THIS FIRST AMENDMENT TO CITY OF CUPERTINO HOUSING
REHABILITATION PROGRAM OWNER PARTICIPATION AGREEMENT (this "First
Amendment") is entered into as of= ;\e-_ , 2014, by and between Patricia Bustamante, a
single woman (the "Owner"), and the City of Cupertino, a municipal corporation (the "City")
(collectively, the "Parties"), with reference to the: following facts:
RECITALS
A. Owner and City entered into 1 he City of Cupertino Housing Rehabilitation
Program Owner Participation Agreement (the "Agreement"), dated as of July 14, 1999, pursuant
to which Owner agreed to,borrow and City agreed to lend funds for rehabilitation of the Property
(as defined in the Agreement and as further described in Exhibit A attached to and incorporated
into this First Amendment).
B. The Parties desire to modify Sectiion 3 of the Agreement.
NOW, THEREFORE, based on the Recitals .stated above, which Recitals are fully
incorporated into this First Amendment, the Parties agree as follows:
1. Section 3 of the Agreement is hereby replaced in its entirety as follows:
1135 LOAN PROVISIONS:
"City has loaned and disbursed to Owner for the work described in
the Agreement and past due interest the total sum of Forty Three
Thousand and Nine Hundred and Eighty Five Dollars and Eighty
Two Cents ($43,985.82), which shall bear an interest rate of zero
percent-(O%) per annum, except that if an event of default occurs,
interest shall accrue as described in the Promissory Note. The loan
is evidenced by a Promissory Note executed by Owner and secured
by a Deed of Trust against the Property in favor. of City. Said.Deed
of Trust also secures :performance of Owner's duties and
obligations under this Agreement.
"Owner also agrees to abide by City's Housing Rehabilitation
Program Guidelines. Unless otherwise specified in said guidelines,
the Property shall at all times be occupied by Owner as Owner's
principal place of residence.
1
"The loan shall be due and payable upon Transfer (as defined in
the Promissory Note) of the Property, upon an event of default as
described in the Promissory Note, or if the Owner no longer
occupies the Property as the Owner's principal residence."
IN WITNESS WHEREOF, the Parties have executed this First Amendment on the day
and year first above written.
OWNER:
PAr['RICIA BUSTAMANTE, a single woman
Dat,=
CITY:
CITY OF CUPERTINO, a municipal corporation
By:
L
David Brandt, City Manager
Date
:2
EXHIBIT A
LEGAL DE 6►CRIPTION
The land referred is situated in the City of Cupertino, County of Santa Clara, State of California,
and is described as follows:
Lot 282, Tract No. 1183 as shown on a map recorded June 23, 1953 in Book 44, Pages 11, 12,
and 13 of Maps, Records of Santa Clara County,, California.
Excepting therefrom the underground water rights without right of surface entry, as conveyed to
San Jose Water Works, a California corporation, by deed recorded January 21, 1954 in Book
2799, Page 73 of Official Records.
Address: 10526 Sterling Boulevard, Cupertino, California 95014
APN: 375-23-034
A.-1
RECORDING REQUESTED BY: DOCUMENT: 22631017 Pages 7
Fees. . . . * No Fees
AND Taxes• • .
WHEN RECORDED MAIL DOCUMENT Cop i es. .
TO: AMT PAID
City of Cupertino �'-
Attn: Senior Housing Planner REGINA ALCOMENDRAS RDE # 001
Community Development Department SANTA CLARA COUNTY RECORDER 6/26/2014
10300 Torre Avenue Recorded at the request of 8:00 AM
Cupertino, CA 95014 Chicago T i t l e
SPACE ABOVE THIS LINE FOR RECORDER'S USE
DEED OF TRUST WITH ASSIGNMENT OF RENTS
r
n
THIS INSTRUMENT IS DELIVERED TO THE
RECORDER'S OFFICE AS AN ACCOMMODATION, =
BY CHICAGO TITLE COMPANY FOR PHYSICAL
CONVENIENCE ONLY. IT Hk NOT BEEN EXAMINED
AS TO ITS VALIDITY EXECUTION OR ITS EFFECT
UPON TITLE IF ANY,
MAIL TAX STATEMENIrS AS DIRECTED ABOVE
THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
(Additional recording fee applies)
(recoversc)(05-08)
RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
City of Cupertino
ATTN: Senior Housing Planner
Community Development Department
10300 Torre Avenue
Cupertino, CA 95014
No fee for recording pursuant to
Government Code Section 27383
APN: 375-23-034 SPACE ABOVE THIS LINE FOR RECORDER'S USE
DEED OF TRUST WITH ASSIGNMENT OF RENTS
THIS DEED OF TRUST, made this 11 AX day of��, 2014, between Patricia
Bustamante, a single woman, herein called TRUSTOR, .whose address is 10526
Sterling Boulevard, Cupertino, California 95014; Chicago Title Company, a California
corporation, herein called TRUSTEE; and the City of Cupertino, a municipal
corporation, herein called BENEFICIARY.
WITNESSETH: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS
to TRUSTEE IN TRUST, WITH POWER OF SALE, that property in the City of
Cupertino, County of Santa Clara, State of California, described as:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF
• r
TOGETHER WITH the rents, issues and profits thereof, SUBJECT, HOWEVER, to the
right, power and authority given to and conferred upon Beneficiary to collect and apply
such rents, issues and profits.
For-the Purpose of Securing: (1) payment of the sum of Forty Three Thousand and
Nine Hundred and Eighty Five Dollars and Eighty Two Cents ($43,985.82), the interest
thereon according to the terms of a promissory note of even date herewith made by
Trustor, payable to order of Beneficiary, and extensions or renewals thereof, and (2) the
performance of each agreement of Trustor incorporated by reference or contained herein,
1 .
including without limitation that certain City of Cupertino Housing Rehabilitation Program
Owner Participation Agreement (the "Agmement"), dated as of July 14, 1999, and
amended of even date herewith, and (3) Payment of. additional sums and interest
thereon which may hereafter be loaned to "Frustor, or his successors or assigns, when
evidenced by a promissory note or notes reciting that they are secured by this Deed of
Trust.
Due on Sale (Acceleration): If the Trustor shall sell, convey, or alienate said property
in any part thereof, or any interest therein, or- shall be divested of its title in any manner
or way, whether voluntarily or involuntarily, any indebtedness or obligation secured
hereby, irrespectively of the maturity date expressed in any note or other document
evidencing the same, at the option of the Beneficiary hereunder and without demand or
notice, shall immediately become due and payable.
To Protect the Security of this Deed of 7rirust, and with respect to the real property
described in Exhibit A, Trustor expressly makes each and all of the agreements, and
adopts and agrees to perform and be bound by each and all of the terms and provisions
set forth in subdivision A of that certain Fictitious Deed of Trust referenced herein, and it
is mutually agreed that each and all of the provisions set forth in subdivision A B of that
certain Fictitious Deed of Trust recorded in Book 6626, Page 664 of Official Records in
the office of the Santa Clara County Recorder shall inure to and bind the parties hereto,
with respect to the property described in Exhibit A. Said agreements, terms, and
provisions contained in said subdivisions A and B are preprinted on the following pages
hereof and by this reference are incorporated into and made a part of 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 it at the address hereinbefore set forth.
TRUSTOR:
PATRICIA BUSTAMANTE,
a single woman
Paz
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L�
CERTIFICATE OF ACKNOWLEDGEMENT OF NOTARY PUBLIC
STATE OF CALIFORNIA, )
COUNTY OF SANTA CLARA )
On _.. �C`L �� before me, -�V��. JS�Y1��
personally appeared who proved to me
on the basis of satisfactory evidence to be the person(K whose named. is/W6
subscribed to the within instrument and acknowI dged to me that �/she/�(ey executed
'
the same in /her/their authorized capacity(i2, and that by ' /her/th it signature(s)
on the instrument the persono, 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 California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
Signature CL�'�t (Seal)
r CItRIS5Y CONCEtCAt)"d6l
r' �.� Commission# 155540
:*. 1 Notary public -California
_y Santa Clara County n
"� My COMM. Expires Oct 7.2015
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
The land referred is situated in the City of Cupertino, County of Santa Clara, State of
California, and is described as follows:
Lot 282, Tract No. 1183 as.shown on a map recorded June 23, 1953 in Book 44, Pages
11, 12, and 13 of Maps, Records of Santa Clara County, California.
Excepting therefrom the underground water rights without right of surface entry, as
conveyed to San Jose Water Works, a California corporation, by deed recorded January
211 1954 in Book 2799, Page 73 of Official Records.
Address: 10526 Sterling Boulevard, Cupertino, California 95014
APN: 375-23-034
DO NOT RECORD
The following is a copy of Subdivisions A and B 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.
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 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,
B. It is:mutually agreed:
(1) 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.
(2) 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.
(3) 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 or
charge hereof.
(4) 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 or other disposition as Trustee in its sole discretion may choose and
upon payment of its fees, Trustee shall reconvey, without warranty, the property then held hereunder. The recitals in such
r
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) 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,
(6) 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 Stages, 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 thin 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,
(7) 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.
(8) 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 Bend.ciaiy 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.
(9) 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.
DOCUMENT: 22631016 Pages: 3
Fees. . . . 23.00
RECORDING REQUESTED BY Taxes. . . .
Copies. .
AND WHEN RECORDED MAIL TO: AMT PAID 23.00
City of Cupertino REC i NA ALCOMENDRAS RDE # 001
ATTN: Senior Housing Planner SANTA CLARA COUNTY RECORDER 6/26/2014
Community Development Department Recorded at the request of 8:00 AM
10300 Torre Avenue Chicago T i t l e
Cupertino, CA 95014
No fee for recording pursuant to
Government Code Section 27383
SUBSTITUTION OF TRUSTEE AND FULL RECONVEYANCE
The undersigned City of Cupertino, a municipal corporation (the "City" or "Beneficiary"),
in and under the provisions of that certain Deed of Trust executed by Patricia Bustamante, a
single woman (the "Trustor"), to U.S.E. Community Services Group, a California corporation, as
Trustee for City, dated July 14, 1999 and recorded in the Official Records of Santa Clara County
on October 19, 1999 as Instrument No. 15022703, hereby gives notice in accordance with the
provisions of the Deed of Trust of the Submission and Appointment of City in place and instead
of the Trustee, and does hereby vest in City as substituted Trustee all the rights, title, estate,
power, duty and trusts conferred by the Deed of Trust upon the Trustee therein named.
Now, therefore, City as substituted Trustee does hereby GRANT AND RECONVEY unto
the parties entitled thereto without warranty all the estate and interest derived to the Trustee
under the Deed of Trust in the real property described in Exhibit A attached hereto, situated in
the City of Cupertino, County of Santa Clara, State of California.
Executed this day of , 20LL[_.
BENEFICIARY AND SUBSTITUTED
THIS INSTRUMENT IS DELIVERED TO THE TRUSTEE:
RECORDER'S OFFICE AS AN ACCOMMODATION,
BY CHICAGO TITLE COMPANY FOR PHYSICAL City of Cupertino, a municipal corporation
CONVENIENCE ONLY IT HAS NOT BEEN EXAMINED
AS TO ITS VALIDITY EXECUTION OR ITS EFFECT
UPON TITLE IF ANY,
avid Brandt, City Manager
1
SIGNATURE MUST BE NOTARIZED
STATE OF CALIFORNIA }
}
COUNTY OF SANTA CLARA }
t
On bet re e, .. Notary
Public, personally appeared proved to me on
the basis of satisfactory evidence to be the peirsono) whose name(4 is/ e subscribed to the
within instrument and acknowledged to me thali he/ne/t�ey executed the same in his/I)4r/to4iir
authorized capacity(io), and that by his/*/t (riir signature(4 on the instrument the person,
or the entity upon behalf of which the person acted, executed the instrument.
I certify UNDER PENALTY OF PERJURY under the laws of the State of California that
the foregoing paragraph is true and correct.
WITNESS my hand and official seal.
h
Notary Public
GRACA SCHMIDT
Goinmission#10231.64
IVot i ty Public•California .
Santa Clara County
f►� Comm.Expires Rb'21 2d9S
EXHIBIT A
LEGAL DESCRIPTION
The land referred is situated in the City of Cupertino, County of Santa Clara, State of
California, and is described as follows:
Lot 282, Tract No. 1183 as shown on a map recorded June 23, 1953 in Book 44, Pages
11, 12, and 13 of Maps, Records of Santa Clara County, California.
Excepting therefrom the underground water rights without right of surface entry, as
conveyed to San Jose Water Works, a California corporation, by deed recorded January
21, 1954 in Book 2799, Page 73 of Official Records.
Address: 10526 Sterling Boulevard, Cupertino, California 95014
APN: 375.23-034
A-1
NOTICE TO BORROWER; THIS .DOCUMENT CONTAINS PROVISIONS
RESTRICTING ASSUMPTION
PROMISSORY NOTE
Secured by Deed of Trust
CDBG Rehabilitafion Loan
$43,985.82 -Cupertino, California
%yAe- ��' , 2014
FOR VALUE RECEIVED, the undersigned Patricia Bustamante, a single woman ('Borrower")
promises to pay to the City of Cupertino, a municipal corporation (the "City"), at 10300 Torre
Avenue, Cupertino, California, or such other place as City may designate in writing,the principal
sum bf Forty Three Thousand'and Nine Hundred and Eighty Five Dollars and Eighty Two Cents
($43,985.82) plus Interest as set forth in Section 2. All sums due under this Promissory Note
Secured by Deed of Trust(the "Note")are payable in lawful money of the United States.
Section 1. Borrower's Obli ag Lion. Borrower owns the home located at 10526 Sterling
Boulevard, Cupertino, California 95014 in the City of Cupertino, Santa Clara County, California
(the "Property"). This Note evidences Borrower's obligation to pay the City the principal amount
of Forty Three Thousand and Nine Hundred and Eighty Five Dollars and Eighty Two Cents
($43,985.82) (the "Loan") plus Interest as set forth in Section 2 for the funds loaned to the
Borrower by the City for the rehabilitation of the Property pursuant to that certain City of
Cupertino Housing Rehabilitation Program Owner Participatio greement between the
Borrower and the City dated July 14, 1999 and amended ;)ii\<- 1`1(20)l4(the "Loan
Agreement").. The Loan has been provided to the Borrower as part of the City's Community
Development Block Grant("CDBG") Housing Rehabilitation Program. All capitalized terms not
otherwise defined in this Note shall have the meanings set forth in the Loan Agreement.
Section 2. Interest.
(a) Interest. The Borrower shall pay zero percent (0%) simple interest on the
principal amount of the Loan(the "Interest")except that if an event of default occurs, the Interest
shall be as set forth in subparagraph(b), below.
(b) Default Interest Rate. If an event of default occurs, Interest on the Loan
shall begin to accrue as of the date of the default and continue until such time as the Loan is
repaid in full or the default is cured, at the default rate of the lesser of (i) 10% or (ii) the
maximum interest rate allowed by law.
Section 3. Term. Unless sooner repaid or prepaid, the term of this Note commences
on the date of this Note and expires upon Transfer of the Property, upon an event of default as
described in Section 8, or if the Borrower no longer occupies the Property as the Borrower's
principal residence (the "Term").
(a) For the purposes of this Note, "Transfer" shall mean any sale, assignment
or transfer, voluntary or involuntary, of any interest in the Property, including, but not limited to,
"I
a fee simple interest, a joint tenancy interest, a life estate, a leasehold interest, an interest
evidenced by a land contract by which possession of the Property is transferred and Borrower
retains title, or a deed of trust,
(b) Notwithstanding subsection(a)of this Section 3,the following shall not be
considered a Transfer for the purposes of this Note:
(1) A transfer to a spouse or domestic partner where the spouse or
domestic partner becomes the co-owner of the Property;
(2) A transfer by Borrower into an inter vivos trust in which Borrower
is the beneficiary;or
(3) A transfer by Borrower to a spouse, domestic partner, or child by
devise or inheritance following the death of Borrower, provided that any such devisee or heir is
eligible to assume the Loan based on guidelines established by the City's Housing Advisory
Board and occupies the Property as the devisee's or heir's principal place of residence.
Section 4. Repayment. Repayment of the principal amount of the Loan plus the
Interest shall be deferred for the Term of the Note. The Loan shall be due and payable upon the
expiration of the Term, which occurs-upon Transfer of the Property, upon an event of default as
described in Section 8, or if the Borrower no longer occupies the Property as the Borrower's
principal residence.
Section 5. Prepayments.
(a) Prepayment in Full. Borrower may prepay all or part of the balance due
under this Note; provided however, any full prepayment must include Interest due at the time of
prepayment.
(b) Partial Prepayment. Borrower may prepay part of the balance due under
this Note. Prepayments shall first be credited to Interest and then to principal.
Section 6. Security. This Note is secured by a deed of trust dated the same date as
this Note (the "Deed of Trust"), wherein the Borrower is the .trustor and the City is the
beneficiary.
Section 7. Assumption of Note. Borrower acknowledges that this Note is given in
connection with the rehabilitation of the Property as part of a program of the City. Consequently,
this Note-is not assumable unless the title to the Property is transferred by devise or inheritance
to the spouse, domestic partner, or child of Borrower following the death of Borrower and such
devisee or heir is eligible to assume the Loan based on guidelines established by the City's
Housing Advisory Board and further agrees to occupy the Property as the devisee or heir's
principal place of residence.
Section 8. Default. Any of the following shall constitute an event of default under
this Note:
2
(a) Any failure to pay, in full,any payment required under this Note when due
following written notice by the City of such failuTe and ten(10) days opportunity to cure;
(b) Any failure in the performance by the Borrower of any term, condition,
provision or covenant set forth in this Note; or
(c) The occurrence of any default under the Loan Agreement or the Deed of
Trust, including without limitation the happening of any of the events listed in Section 11 and
Section 12 of the Loan Agreement.
Section 9. Acceleration. Upon the occurrence of a default, and after the expiration of
any notice and cure periods set forth in the Deed.of Trust,the City shall have the right to declare
the full amount of the principal along with any accrued Interest under this Note immediately due
and payable.
Section 10. No Waiver.by City. Any failure by the City to pursue its legal and
equitable remedies upon default shall not constitute a waiver of the City's right to declare a
default and exercise all of its rights under this Note, the Loan Agreement and the Deed of Trust.
Nor shall acceptance by the City of any payment provided for in this Note constitute a waiver of
the City's right to require prompt payment of any remaining principal and Interest owed. A
waiver of any term of the Note must be made: in writing and shall be limited to the express
written terms of such waiver.
Section 11. Attorney's Fees and Costs. The Borrower promises to pay all costs and
expenses, including reasonable attorneys' fees, incurred by the County in the enforcement of the
provisions of this Note, regardless of whether suit is filed to seek enforcement.
Section 12. Joint and.Several Obligations. This Note is the joint and several obligation
of all makers, sureties, guarantors and endors(11:-s, and shall be binding upon them and their
successots and assigns.
Section 13. No Offset. The obligations of the Borrower under this Note shall be
absolute and the Borrower waives any and all rights to offset, deduct or withhold any payments
or charges due under this Note for any reason whatsoever.
Section 14. Waiver. The Borrower hereby waives diligence, presentment, protest and
demand, and notice of protest, notice of demand;, notice of dishonor and notice of non-payment
of this Note. The Borrower expressly agrees that this Note or any payment hereunder may be
extended from time to time and that the County may accept ftwther security or release any
security for this Note, all without in any way affecting the liability of the Borrower.
Section 15. Controlling_Law. This Note shall be construed in accordance with and be
governed by the laws of the State of California. Venue shall be Santa Clara County.
Section 16. Assignment by City. The City may assign its right to receive the proceeds
under this Note to any person and upon notice to the Borrower by the City all payments shall be
made to the assignee,
' :3
Section 17. Time of the Essence. The times for the performance of any obligations
under this Note shall be strictly construed,time being of the essence.
Section 18. Entire Agreement. This document, together with the Loan Agreement and
the Deed of Trust, contains the entire agreement between the parties as to the Loan. It may not be
modified except upon written consent of the parties.
Section 19. Assignment. The Borrower may not assign its rights and obligations under
this Note without the express written consent of the City. The City's rights under this Note may
be assigned by the City in its sole discretion.
Section 20. Conflicting Provisions. If any term, condition or provision of this Note is
in conflict with the term, condition or provision of the Loan Agreement or the Deed of Trust,
said term, condition or provision of the Loan Agreement or the Deed of Trust shall control to the
extent of such conflict.
Section 21. Severability. If any term of this Note is held by a court of competent
jurisdiction to be invalid,void or unenforceable,the remainder of the provisions shall continue in
full force and effect unless the rights and obligations of the parties have been materially altered
or abridged by such invalidation,voiding or unenforceability.
BORROWER:
By: r
Patricia Bustamante, a single woman
Date: 0
4
FIRST AMENDMENT TO
CITE''OF CUPERTINO
HOUSING REHABILITATION PROGRAM
OWNER PARTICIPJ.'.TION AGREEMENT
(Patricia Bu.stamante)
THIS FIRST AMENDMENT TO CITY OF CUPERTINO HOUSING
REHABILITATION PROGRAM OWNER PARTICIPATION AGREEMENT (this "First
Amendment") is entered into as of jy;\e_ 2014, by and between Patricia Bustamante, a
single woman (the "Owner"), and the City of 11Cupertino, a municipal corporation (the "City")
(collectively,the "Parties"), with reference to the following facts:
RECITALS
A. Owner and City entered into i,he City of Cupertino Housing Rehabilitation
Program Owner Participation Agreement (the ".Agreement"), dated as of July 14, 1999, pursuant
to which Owner agreed to_borrow and City agreed to lend funds for rehabilitation of the Property
(as defined in the Agreement and as further described in Exhibit A attached to and incorporated
into this First Amendment).
B. The Parties desire to modify Section 3 of the Agreement.
NOW, THEREFORE, based on the Recitals.stated above, which Recitals are fully
incorporated into this First Amendment, the Parties agree as follows:
1. Section 3 of the Agreement is hereby replaced in its entirety as follows:
113, LOAN PROVISIONS:
"City has loaned and disbursed to Owner for the work described in
the Agreement and past clue interest the total sum of Forty Three
Thousand and Nine Hundred and Eighty Five Dollars and Eighty
Two Cents ($43,985.82), which shall bear an interest rate of zero
percent (0%) per annum, except that if an event of default occurs,
interest shall accrue as described in the Promissory Note. The.loan
is evidenced by a Promissory Note executed by Owner and secured
by a Deed of Trust against the Property in favor of City. Said Deed
of Trust also secures performance of Owner's duties and
obligations under this Agreement.
"Owner also agrees to' abide by City's Housing Rehabilitation
Program Guidelines. Untoss otherwise specified in said guidelines,
the Property shall at all tunes be occupied by Owner as Owner's
principal place of residence;.
"The loan shall be due and payable upon Transfer (as defined in
the Promissory Note) of the Property, upon an event of default as
described in the Promissory Note, or if the Owner no longer
occupies the Property as the Owner's principal residence."
IN WITNESS WHEREOF, the Parties have executed this First Amendment on the day
and year first above written.
OWNER:
PATRICIA BUSTAMANTE, a single woman
l
20
Date
CITY:
CITY OF CUPERTINO, a municipal corporation
By:
David Brandt, City Manager
Date
2
EXHIII31T A
LEGAL DESCRIPTION
The land referred is situated in the City of Cupertino, County of Santa Clara, State of California,
and is described as follows:
Lot 282, Tract No. 1183 as shown on a map recorded June 23, 1953 in Book 44, Pages 11, 12,
and 13 of Maps, Records of Santa Clara County, California.
Excepting therefrom the underground water rights without right of surface entry, as conveyed to
San Jose Water Works, a California corporation, by deed recorded January 21, 1954 in Book
2799,Page 73 of Official Records.
Address: 10526 Sterling Boulevard, Cupertino, California 95014
APN: 375-23-034
5
FIRST AMENDMENT TO
CITY OF (CUPERTINO
HOUSING REHABILITATION PROGRAM
OWNER PARTICIPATION AGREEMENT
(Patricia Bustamante)
THIS FIRST AMENDMENT TO CITY OF CUPERTINO HOUSING
REHABILITATION PROGRAM _OWNER PARTICIPATION AGREEMENT (this "First
Amendment") is entered into as of , 2014, by and between Patricia Bustamante, a
single woman (the "Owner"), and the City of Cupertino, a municipal corporation (the "City")
(collectively, the "Parties"), with reference to the following facts:
RECIITALS
A. Owner and City entered into the City of Cupertino Housing Rehabilitation
Program Owner Participation Agreement (the "Agreement"), dated as of July 14, 1999, pursuant
to which Owner agreed to.borrow and City agreed to lend funds for rehabilitation of the Property
(as defined in the Agreement and as further described in Exhibit A attached to and incorporated
into this First Amendment).
B. The Parties desire to modify Section 3 of the Agreement.
NOW, THEREFORE, based on the Recitals .stated above, which Recitals are fully
incorporated into this First Amendment, the Parties agree as follows:
1. Section 3 of the Agreement is hereby replaced in its entirety as follows:
"3, LOAN PROVISIONS:
"City has loaned and disbursed to Owner for the work described in
the Agreement and past due interest the total sum of Forty Three
Thousand and Nine Hundred and Eighty Five Dollars and Eighty
Two Cents ($43,985.82;), which shall bear an interest rate of zero
percent-(O%) per annum., except that if an event of default occurs,
interest shall accrue as described in the Promissory Note. The loan
is evidenced by a Promissory Note executed by Owner and secured
by a Deed of Trust against the Property in favor of City. Said Deed
of Trust also secure, performance of Owner's duties and
obligations under this A.;reement.
"Owner also agrees to abide by City's Housing Rehabilitation-
Program Guidelines. Unless otherwise specified in said guidelines,
the Property shall at all Mimes be occupied by Owner as Owner's
principal place of residence.
1
"The loan shall be due and payable upon Transfer (as defined in
the Promissory Note) of the Property, upon an event of default as
described in the Promissory Note, or if the Owner no longer
occupies the Property as the Owner's principal residence."
IN WITNESS WHEREOF, the Parties have executed this First Amendment on the day
and year first above written.
O`ATNER:
PATRICIA BUSTAMANTE, a single woman
Date
CITY:
CITY OF CUPERTINO, a municipal corporation
By:
David Brandt, City Manager
Date
2
EXHIBIT A
LEGAL DESCRIPTION
The land referred is situated in the City of Cupertino, County of Santa Clara, State of California,
and is described as follows:
Lot 282, Tract No. 1183 as shown on a map recorded June 23, 1953 in Book 44, Pages 11, 12,
and 13 of Maps, Records of Santa Clara County, California.
Excepting therefrom the underground water rights without right of surface entry, as conveyed to
San Jose Water Works, a California corporation, by deed recorded January 21, 1954 in Book
27995 Page 73 of Official Records.
Address: 10526 Sterling Boulevard, Cupertino, California 95014
APN: 375-23-034
-1