2023-12-07 SDC-Cypress Point Holdings NOTICE OF DEFAULT & Election to Sell Under Deed of Trust DOC # 2023-0363986RECORDING REQUESTED BY
First American Title Insurance Company
AND WHEN RECORDED MAIL TO
First American Title Insurance Company
9255 Town Center Drive
Suite 200
San Diego, CA 92121
DOC # 2023-0363986
12/07/2023 10:01 AM Fees: $104.00
Page 1 of 2
Recorded in Official Records
County of Riverside
Peter Aldana
Assessor -County Clerk -Recorder
**This document was electronically submitted
to the County of Riverside for recording**
Receipted by: ELENA #448
Trustee Sale No. 1197779 Loan No. Title Order No.
Space above this line for recorder's use only
IMPORTANT NOTICE
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 business days prior to the date set for
the sale of your property. No sale date may be set until approximately 90 days from the date
this notice of default may be recorded (which date of recordation appears on this notice).
This amount is $37,413,260.00 as of 12/06/2023 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 property, 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
three months after this notice of default is recorded) to, among other things, (1) provide
additional time in which to cure the default by transfer of the property or otherwise; or (2)
establish a schedule of payments in order to cure your default; or both (1) and (2).
DOC #2023-0363986 Page 2 of 2
Trustee Sale No. 1197779 Loan No. Title Order No.
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 foreclosure for any other reason, contact:
Cypress Point Holdings, LLC
c/o Michelman & Robinson
10880 Wilshire Blvd„ 19th Floor
Los Angeles, CA 90024
Attn: Edward D. Vaisbort (310) 299-5500
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: First American Title Insurance Company
is the duly appointed Trustee under a Deed of Trust dated 11118/2022, executed by SilverRock
Development Company, LLC, as trustor, to secure obligations in favor of Cypress Point
Holdings, LLC, as Beneficiary recorded on November 30, 2022 as Document Number 2022-
0486431 of official records in the Office of the Recorder of Riverside County, California, as
more fully described on said Deed of Trust, including the note(s) for the sum of
$31,464,425.00; The beneficial interest under said Deed of Trust and the obligations secured
thereby are presently held by the beneficiary; that a breachof, and default in, the obligations
for which said Deed of Trust is security has occurred in that the payment has not been made
of: THE UNPAID PRINCIPAL BALANCE OF $31,464,425.00 WHICH BECAME DUE ON
09/30/2023 PLUS ACCRUED INTEREST AND LATE CHARGES.
That by reason thereof, the present beneficiary under such Deed of Trust, has executed and
delivered to said Trustee, a written Declaration and Demand for Sale, and has deposited with
said duly appointed Trustee, such Deed of Trust and all documents evidencing the
obligations secured thereby, and has declared and does hereby declare all sums secured
thereby immediately due and payable and has elected and does hereby elect to cause the
trust property to be sold to satisfy the obligations secured thereby.
DATE: 12/6/23
First American Title Insurance Company
David Z. Bark, Foreclosure Trustee
P.O. Box 23159
San Diego, CA 92193-3159
ELECTRONIC RETURN RECEIPT
REQUESTED
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71 96900 2484 0813 7679 1
Mailed On: 1/8/2024 Order Number: 0003762-01
ClientID: FASD000307 ER Reference Number: 1197779
CITY OF LA QUINTA C/0 RUTAN & TUCKER, LLP ATTN: WILLIAM H. IHRKE, ESQ. CITY OF LA QUINTA
611 ANTON BOULEVARD., SUITE 1400
COSTA MESA CA, 92626
GenericAddressfnsert.doc Rev. 12/19/2018
P.O. Box 23159
San Diego, CA 92193-3159
ELECTRONIC RETURN RECEIPT
REQUESTED
1111 i•iiiiiii II 1111111111
71 96 oo/44a4 0813 7679
Mailed -On: 1/8/2024 Order Number: 0003762-01
ClientID: FASD000307 ER Reference Number: 1197779
CITY OF LA QUINTA C/0 RUTAN & TUCKER, LLP ATTN: WILLIAM H. IHRKE, ESQ.
611 ANTON BOULEVARD., SUITE 1400
COSTA MESA CA, 92626
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