HomeMy WebLinkAbout2016-035 1 RESOLUTION NO.2016-35
2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SA
3 BERNARDINO ACTING AS THE SUCCESSOR HOUSING AGENCY TO THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING T
4 SUBORDINATION OF A DEED OF TRUST IN CONNECTION WITH A REFINANCING O
THE SENIOR MORTGAGE RELATING TO REAL PROPERTY LOCATED AT 218
5 ROOSEVELT AVENUE, SAN BERNARDINO,CALIFORNIA
6
WHEREAS, on January 9, 2012,the Mayor and Common Council of the City of San Bernardino
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("Council') adopted Resolution No. 2012-12 confirming that the City of San Bernardino would serve as
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9 the Successor Agency to the Redevelopment Agency ("Agency") of the City of San Bernardin
10 ("Successor Agency") effective February 1, 2012, pursuant to AB1X 26 (The Redevelopment Agency
11 Dissolution Act); and
12 WHEREAS, on January 23,2012,the Council adopted Resolution No. 2012-19 providing for th
13 City to serve as the Successor Housing Agency and perform the housing functions previously performed
14 by the Agency; and
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WHEREAS, pursuant to Health & Safety Code Section 34181(c) of AB 1 X26 the Oversight
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Board is to direct the transfer of housing responsibilities, including all rights, powers, duties, obligation
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18 and assets,to the Successor Housing Agency; and
19 WHEREAS, pursuant to Health & Safety Code Section 34176(e)(1) of AB 1484 the restriction
20 on the use of real property such as affordability covenants entered into by the Agency are considered
21 housing asset; and
22 WHEREAS, a Residential Property Maintenance Agreement affecting real property located at
23 2185 Roosevelt Ave, San Bernardino, California("Property") exists as of July 19, 2007, and recorded on
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September 12, 2007 as Instrument Number 2007-0525070 in the Official Records of the County of San
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Bernardino and
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27 WHEREAS, the terms of the Residential Property Maintenance Agreement allow the Trustor t
28 obtain the release of the security interest of the First Mortgage Lender in the Property for the purpose of
1
I third-party lender which refinances the purchase money mortgage of the First Mortgage Lender; and
2 WHEREAS, an escrow has been opened on the Property affected by the Deed of Trust on which
3 owners (Jose I. Armendariz) request the subordination so that they can proceed on a refinance and a clear
4
lenders title policy can be provided to the new lender of the Property; and
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WHEREAS, the Successor Housing Agency desires to confirm that the Deed of Trust is
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7 housing asset and/or housing function, and desires to authorize Successor Housing Agency staff to
8 transfer all rights and interest in the Deed of Trust to the City in its capacity as the Successor Housing
9 Agency; and
10 WHEREAS, Successor Housing Agency staff desires to cause to be signed and recorded
11 subordination agreement for the purposes of causing the new third-party lender to have a security interest
12 in the Property senior to that of the Successor Housing Agency; and
13
WHEREAS,the State of California Department of Finance,the County Auditor-Controller of the
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County of San Bernardino and the Office of the Chief Executive Officer of the County of San Bernardino
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have been properly notified prior to the adoption of this Resolution.
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17 NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COMMON COUNCI
18 OF THE CITY OF SAN BERNARDINO ACTING AS THE SUCCESSOR HOUSING AGENCY
19 OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, A
20 FOLLOWS:
21 Section 1. Pursuant to Health & Safety Code Section 34176, the Successor Housing Agency
22 to the Redevelopment Agency of the City of San Bernardino does hereby find and determine that the
23
Deed of Trust is a housing asset and hereby authorizes the City Manager or his/her designee, to execute
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the Subordination Agreement (attached and incorporated herein as Exhibit "A") and cause it to be
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26 recorded with the San Bernardino County Recorder.
27 Section 2. This Resolution shall take effect from and after its date of adoption and the
28 expiration of five business days from its transmittal to the California Department of Finance.
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1 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SA
BERNARDINO ACTING AS THE SUCCESSOR HOUSING AGENCY TO THE
2 REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO APPROVING T
3 SUBORDINATION OF A DEED OF TRUST IN CONNECTION WITH A REFINANCING O
THE SENIOR MORTGAGE RELATING TO REAL PROPERTY LOCATED AT 218
4 ROOSEVELT AVENUE, SAN BERNARDINO,CALIFORNIA
5 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the
Mayor and Common Council of the City of San Bernardino at a joint regular meeting thereof, held on the
6 7`h day of March, 2016,by the following vote, to wit:
7
8 Council Members Ayes Nays Abstain Absent
9 MARQUEZ X
10
BARRIOS X
11
VALDIVIA X
12
13 SHORETT g
14 NICKEL X
15 RICHARD x
16 MULVIHILL
17
18 G rgeandW Hanna, C, City Clerk
19 The foregoing Resolution is hereby approved this / day March, 2
20
21 ���
R. Carey Davis ayor
22 City of San B nardino
Approved as to Form:
23 Gary D. Saenz, City Attorney
24 By
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26
27
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2016-35
Electronically Recorded In Official Records,County of San Bernardino 4/0412016
NATIONS TITLE COMPANY OF CA Jc 05 AM
kS-1212 - ,� , BOB DUTTON
When recorded malt to: ASSESSOR-RECORDER-CLERK
891 The Nations Title Co of CA
City of San Bernardino,acting in its
capacity as the Successor Housing Agency Doc#: 2016-0124014 Titles: 1 Pages: 7
to the Redevelopment Agency of Fees 43.00
the City of San Bernardino Taxes .00
300 North D San Bernardino,CA 92401 PAID 43.00
Owner Name: Jose 1.Armendariz
2185 Roosevelt Avenue
San Bernardino,CA 92411
A�tJ r72 Q_ Z I.0 ��U U b SPACE ABOVE THIS LINE FOR RECORDERS USE.
t Form of
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
INTEREST IN THE PROPERTY BECOMING HER OR LATER o SECURITY
PRIORITY THAN THE LIEN OF S OME O
INSTRUMENT.
This AGREEMENT, made this 2Lday of March, 2016, by (Jose I. Armendariz), Owner of the land
as
hereinafter described and hereinafter referred to as"Owner,"and the City of San Bernardino,acting in its owner and
the Successor Housing Agency to the Redevelopment Agency of the City of San Bernardino, present
holder of the Deed of Trust and Note;
WITNESSETH
WHEREAS, Owner(s) did on July 19, 2007, execute a Deed of Trust to California Title Company, a
California Corporation,as trustee,covering:
LEGAL DESCRIPTION: See Exhibit A
to secure a Note in the sum of N/A dated July 19,2007,in favor of the Redevelopment Agency of the City of San
Bernardino first hereinafter described and hereinafter referred to as "Beneficiary", which Deed of Trust was
recorded September 12,2007 as Instrument No.2007-0525070,Official Records of said county;
WHEREAS, all rights and obligations of the Beneficiary have since been transferred to the City of San
Bernardino as the Successor Housing Agency to the Redevelopment Agency of the City of San Bernardino
("Successor Beneficiary") pursuant to Mayor and Common Council Resolution No. 2012-19 dated January 23,
2012;
WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of not to
exceed$213,000.00,dated�AJr,n�h 7? ���� ,in favor of Wells FarU Bank,N,A— hereinafter referred
to as"Lender,"payable with interest and upon the terms and conditions described therein,which Deed of Trust is to
be recorded concurrently herewith;and
WHEREAS,it is a condition precedent to obtaining said loan that said Deed of Trust last above mentt o ed
shall unconditionally be and remain at all times a lien or charge upon the land herein before described,prior
superior to the lien or charge of the Deed of Trust first above mentioned;and
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2016-35
NATIONS TITLE COMPANY OF CA
When recorded mail to:
City of San Bernardino,acting in its
capacity as the Successor Housing Agency
to the Redevelopment Agency of
the City of San Bernardino
300 North D Street
San Bernardino,CA 92401
Owner Name: Jose 1.Armendariz
2185 Roosevelt Avenue
San Bernardino,CA 92411
O(! 0-00d SPACE AE30VE TH[S LINE FOK KECORUEKS USE.
���� OZ�o`�"IZI` D�
Form of
SUBORDINATION AGREEMENT
NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
INTEREST IN THE PROPERTY BECOMING SUBJECT OF LOWER
PRIORITY T THE LIEN OF S OTHER OR LATER
T HAN O SECURITY
INSTRUMENT.
This AGREEMENT, made this 7'h day of March, 2016, by (Jose I. Armendariz), Owner of the land
as
hereinafter described and hereinafter referred to as p"Owner,,"and the City f San Bernardino,acting in its owner act and
the Successor Housing Agency to the Redevelopment Agency of the city of San Bernardino, present
holder of the Deed of Trust and Note;
WITNESSETH
WHEREAS, Owner(s) did on July 19, 2007, execute a Deed of Trust to California Title Company, a
California Corporation,as trustee,covering:
LEGAL DESCRIPTION: See Exhibit A
to secure a Note in the sum of N/A dated July 19, 2007, in favor of the Redevelopment Agency of the City of San
Bernardino first hereinafter described and hereinafter referred to as "Beneficiary", which Deed of Trust was
recorded September 12,2007 as Instrument No.2007-0525070,Official Records of said county;
WHEREAS, all rights and obligations of the Beneficiary have since been transferred to the City of San
Bernardino as the Successor Housing Agency to the Redevelopment Agency of the City of San Bernardino
("Successor Beneficiary") pursuant to Mayor and Common Council Resolution No. 2012-19 dated January 23,
2012;
WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of not to
J
exceed$213 000.00, dated pi in favor of Wells Fargo Bank.N.A., hereinafter referred
��, —
to as"Lender,"payable with interest and upon the terms and conditions described therein,which Deed of Trust is to
be recorded concurrently herewith;and
WHEREAS,it is a condition precedent to obtaining said loan that said Deed of Trust last above►n r prior shall unconditionally be and remain at all times a lien or charge upon the land herein before described, p
superior to the lien or charge of the Deed of Trust first above mentioned;and
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2016-35
WHEREAS,lender is willing to make said loan provided the Deed of Trust securing the same is a lien or
charge upon the above described property prior and superior to the lien or charge of he Deed of Trust first above
mentioned and provided that Su cess enefit to Neill specif
ccharge of he Deed dof Trustyin favordlof Lender land r
charge of the Deed of Trust first a mentioned
WHEREAS, it is to the mutual benefit of the part ies hereto that Lender make such loan to Owner; and
Successor Beneficiary is willing that the Deed of Trust
superior p to he lien lorvchargecof tthe,Deed constitute
Trust lien
fi or
charge upon said land which is unconditionally prior
above mentioned.
NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other
valuable consideration,the receipt and sufficiency of which consideration is hereby acknowledged, and in order to
induce Lender to make the loan above referred to,it is hereby declared,understood and agreed as follows:
I. That said Deed of Trust securing said Note in favor of Lender, p,and any renewals or extensions thereof,
shall unconditionally be and remain at all times a lien or charge on the property therein described,prior
and superior to the lien or charge or the Deed of Trust first above mentioned.
2. That Lender would not make its loan above described without this Subordination Agreement.
3. That this Agreement shall be the whole and only agreement with regard to the subordination of the lien
or charge of the Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor
of the lender above referred to and shall supersede and cancel, but only insofar as would affect the
priority between the Deeds of Trust hereinbefore specifically described,any prior agreement as to such
subordination including,but not limited to,those provisions,if any,contained in the Deed of Trust first
above mentioned, which provide for the subordination of the lien or charge thereof to another Deed or
Deeds of Trust or to another mortgage or mortgages.
Successor Beneficiary declares,agrees and acknowledges that:
(a) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to,nor
has Lender represented that it will, see to the application of such proceeds by the person or persons to
whom Lender disburses such proceeds and any application or use of such proceeds for purposes other
than those provided for in such agreement or agreements shall not defeat the subordination herein
made in whole or in part;
(b) Successor Beneficiary intentionally and unconditionally waives,relinquishes and subordinates the lien
or charge of the Deed of Trust first above mentioned in favor of the lien or charge upon said land of
the Deed of Trust in favor of Lender above referred to and understands that in reliance upon, and in
consideration of, this waiver,relinquishment and subordination specific loans and advances are being
and will be make and,as part and parcel thereof,specific monetary and other obligations are being and
will be entered into which would not be made or entered into but for said reliance upon this waiver,
relinquishment and subordination;and
(c) An endorsement has been placed upon the Note secured by the Deed of Trust first above mentioned
that said Deed of Trust has by this instrument been subordinated to the lien or charge of the Deed of
Trust in favor or Lender above referred to.
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2016-35
NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS THE
PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A
PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT
OF THE LAND.
City of San Bernardino,acting as the Successor Housing Agency
to the Redevelopment Agency of the City of San Bernardino
Mark Scott,City Manager Owner �l jt0 �}//IIP/!�C�r 1z�
City of San Bernardino
Owner
(ALL SIGNATURES MUST BE ACKNOWLEDGED)
IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT,
THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO.
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2016-35
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE §1 1189
xc �zwR2�h��dn .c+t" �'fc .mgr^v^�v.ThirC'FC` .c`L'�Fic"it-249.c;fVc`!`'"
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the
document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document.
State of California O )
County of ) �fflcer
On ,3 before me,Date Mere insert Na a and Tit
N r
personally appeared � Q t�Yl k
Name(s)of Signer(s)
who proved to me on the basis of satisfactory evidence to be the person*-whose name(ay is/arm
subscribed to the within Instrument and acknowledged to me that he/sheAhey executed the same in
his/herAheir authorized capacity(ipa',and that by his/herAhek signature(s)on the instrument the person(ar,
or the entity upon behalf of which the person(t)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.
BREENDA GRACES LE(3�G 7T WITNESS my hand and official seal.
Commlaslon 0 1985138
Notary Public•CA11110 nla
San Bernardino County Si nature
go . Comm.Ex Uea Au 11,2016 g Signature of Notary Pu tic
Place Notary Seal Above
OPTIONAL
Though this section is optional, completing this information can deter alteration of the document or
fraudulent reattachment of this form to an unintended document.
Description of Attached Docum nt . 9 !'
ment Date:
Title or Type of Document: 5u 0 y� 1 u
Number of Pages: Signer(s) Other Than Named Above.
Capacity(ies)Claimed by Signer(s)
Signer's Name: Signer's Name:
❑Corporate Officer — Title(s): ❑Corporate Officer —Title(s):
❑Partner — ❑Limited ❑General ❑Partner— 0 Limited ❑General
❑Individual ❑Attorney in Fact ❑Individual ❑Attorney in Fact
❑Trustee ❑Guardian or Conservator O Trustee O Guardian or Conservator
❑Other: O Other:
Signer Is Representing: Signer Is Representing:
020 14 National Notary Association -www.NationalNotary.org- 1-800-US NOTARY(1-800-876-6827) Item#5907
2016-35
CALIFORNIA ALL PURPOSE ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only
the identity of the individual who signed the document to which this
certificate Is attached, and not the truthfulness, accuracy, or validity
of that document.
STATE OF CALIFORNIAN
COUNTY OF ► d�1�
On a before me,
(here insert me and title of the fficer�)y
notary public, personally appeared�C�"a�
MARIA N.BARRARAN
who proved to me on the basis of satisfactory evidence to be the parson(&)whose Ciommialion#r.2018574
name(a) is/aw subscribed to the within instrument and acknowledged to me that i w Notary Public•California
he/slzaamy executed the same in hls/herLttletaaulhorized capacity0g. and that by
Z San Bernardino County
hislher�E4&signatureM on the Instrument the person(&),or the entity upon behalf of M Comm.Ea tree O r 22 2017
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 h d fficial seal
Signature ( (This area for Official notadalseal)
Optional
Though the information below fraudulent I s not
required
removal and reattachment valuable to to another ocumen
relying the document and could prevent
Description of Attached Document + j_
Title or Type of Document: 6JOc-C 43,, t
Document Date: �'l or t�► ')�'
Number of Pages: (Not including this page)
Signer(s) Other Than Named Above:
2016-35
I
1
GOVERNMENT CODE 27361.7
I certify under penalty of perjury that the Notary Seal on the document to which this
Statement is attached reads as follows:
NAME OF THE (h�
NOTARY: j3"v�do, �� r
DATE COMMISSION
EXPIRES:
COUNTY WHERE BOND IS
FILED:
COMMISSION
NUMBER: VENDOR#:
I certify under penalty of perjury and the laws of the State of California that the illegible
portion of this document to which this statement is attached reads as follows:
i
'1
— I
I
PLACE OF
EXECUTION: LOS ANG ATE;
ELES D
SPL Inc. as agent
Signature
2016-35
EXHIBIT "A"
LEGAL DESCRIPTION
All that certain real property situated in the CITY OF SAN BERNARDINO, County of SAN
BERNARDINO, State of CALIFORNIA,described as follows:
PORTIONS OF LOTS 25 AND 23 01?POPE TALBOT AND PIERCE ADDITION, IN THE CITY OF
SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA,AS PER
PLAT RECORDED IN BOOK l I OF MAPS,PAGE 23, RECORDS OF SAID COUNTY,
DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHEAST CORNER OF LOT 97 OF TRACT 2353 AS PER PLAT
RECORDED IN BOOK 33 OF MAPS,PAGES 66 AND 67, RECORDS OF SAID COUNTY;
THENCE ALONG THE SOUTHERLY EXTENSION OF THE EAST LINE OF SAID LOT 97, S 0°
03' 30" E 60 FEET TO THE SOUTH LINE OF ROOSEVELT AVENUE;THENCE N 89° 19' 30" E-
210.06 FEET TO THE NORTHWEST CORNER OF LOT 112 OF SAID TRACT;THENCE S 0° 03'
00" E 329.80 FEET TO TIIE SOUTHWEST CORNER OF SAID LOT 112;THENCE S 89° 19' 30" W
28.70 FEE'T MORE OR LESS TO A POINT 240.2 FEET MEASURED AT RIGHT ANGLES
NORTHWESTERLY FROM THE SOUTHWESTERLY LINE OF SAID POPE TALBOT AND
PIERCE ADDITION;THENCE N 451 02' 00"W 545.17 FEET TO A POINT WHICH IS S 89° 19'
30"W 204.03 FEET FROM TIIE POINT OF BEGINNING; THENCE N 89° 19' 30" E 204.03 FEET
TO THE- POINT OF BEGINNING.
EXCEPTING THEREFROM THAT PORTION OF LAND DESCRIBED IN A DOCUMENT
RECORDED MARCH 13, 1947 IN BOOK 1982, PAGE 265 OF OFFICIAL RECORDS OF SAID
COUNTY.
Assessor-Parcel No(s).: 0269-121-08-0-000