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As recorded in the Official Records of San Diego County, Document No. 2008-0319439 on JUN 13, 2008 at 12:36 PM
NOTICE OF DEFAULT AND ELECTION TO SELL UNDER DEED OF TRUST
IF YOUR PROPERTY IS IN FORECLOSURE BECAUSE YOU ARE BEHIND IN YOUR PAYMENTS, IT MAY BE SOLD WITHOUT ANY COURT ACTION,
and you may have the legal right to bring your account in good standing by paying all of your past due payments plus permitted costs and expenses within the time permitted by law for reinstatement of your account, which is normally five (5) business days prior to the date set for the sale of your property. No sale date may be set until three(3) months from the date this notice of default may be recorded (which date of recordation appears on this notice).
This amount is $542,860.00
as of June 13, 2008, and will increase until your account becomes current.
While your property is in foreclosure, you still must pay other obligations (such as insurance and taxes) required by your note and deed of trust or mortgage. If you fail to make future payments on the loan, pay taxes on the pro
perty, provide insurance on the property, or pay other obligations as required in the note and deed of trust or mortgage, the beneficiary or mortgagee may insist that you do so in order to reinstate your account in good standing. In addition, the beneficiary or mortgagee may require as a condition to reinstatement that you provide reliable written evidence that you paid all senior liens, property taxes, and hazard insurance premiums.
Upon your written request, the beneficiary or mortgagee will give you a written itemization of the entire amount you must pay. You may not have to pay the entire unpaid portion of your account, even though full payment was demanded, but you must pay all amounts in default at the time payment is made. However, you and your beneficiary or mortgagee may mutually agree in writing prior to the time the notice of sale is posted (which may not be earlier than the end of the three-month period stated above) to, among other things: (1) provide additional time in which to cure the default by transfer of the property or otherwise; (2) establish a schedule of payments in order to cure your default; or both (1) and (2).
Following the expiration of the time period referred to in the first paragraph of this notice, unless the obligation being foreclosed upon or a separate written agreement between you and your creditor permits a longer period, you have only the legal right to stop the sale of your property by paying the entire amount demanded by your creditor.
TO FIND OUT THE AMOUNT YOU MUST PAY, OR TO ARRANGE FOR PAYMENT TO STOP THE FORECLOSURE, OR IF YOUR PROPERTY IS IN FORCLOSURE FOR ANY OTHER REASON, CONTACT:
Mr. Jonathon Lacey
Attorney for Beneficiary SAM KHOLI ENTERPROSES, INC.
2225 Moore Street, Suite 207
San Diego, California 92110
If you have any questions, you should contact a lawyer or the governmental agency which may have insured your loan.
Notwithstanding the fact that your property is in foreclosure, you may offer your property for sale, provided the sale is concluded prior to the conclusion of the foreclosure.
Remember, YOU MAY LOSE LEGAL RIGHTS IF YOU DO NOT TAKE PROMPT ACTION. NOTICE IS HEREBY GIVEN THAT
under the deed of trust executed by MICHAEL T. SHERMAN DBA MTS INVESTMENTS, INC. as trustor, to SAM KHOLI ENTERPRISES, INC., a California corporation as trustee, and SAM KHOLI ENTERPRISES, INC., a California corporation as beneficiary, recorded on March 29, 2007 as Doc #2007-0212872 in the Official Records of San Diego County, California, a breach of the obligation secured by the deed of trust has occurred, that the nature of the breach is the failure of you, as the trustor, to pay unto the beneficiary the principal payment due and owing on March 31, 2008 on the promissory note dated March 29, 2007, and executed by the trustor on March 29, 2007 indicating a loan for the sum of money equaling $550,000 and secured by the property described in Exhibit A attached to this Notice. Therefore the beneficiary (1) declares all sums secured by the deed of trust immediately due and payable and (2) elects to sell or cause to be sold the trust property to satisfy the obligation.
June 13, 2008
Attorney for Beneficiary
SAM KHOLI ENTERPRISES, INC.EXHIBIT A
PARCEL 2 OF PARCEL MAP NO. 18176, IN THE CITY OF SAN DIEGO, COUNTY OF SAN DIEGO, STATE OF CALIFIRNIA, ACCORDING TO MAP THEREOF FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, DECEMBER 22, 1998.
COMMONLY KNOWN AS 4950 GREENCRAIG LANE, SAN DIEGO, CALIFORNIA 92123
Pub. June 19, 26, July 3, 10-00043106