HomeMy WebLinkAboutRelease #33
TEMECULA PUBLIC FINANCING AUTHORITY RELEASE NO. 33 Dated: June 25, 2009 Relating to $51,250,000 Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh
Ranch), 2006 Special Tax Bonds (the “Bonds”) Maturity (September 1) CUSIP No. Maturity (September 1) CUSIP No. Maturity (September 1) CUSIP No. 2009 87972Y BX3 2013 87972Y CB0 2026 87972Y
CM6 2010 87972Y BY1 2014 87972Y CC8 2036 87972Y CN4 2011 87972Y BZ8 2015 87972Y CD6 2012 87972Y CA2 2016 87972Y CE4 The Temecula Public Financing Authority (the “Authority”) has previously
issued its Releases Nos. 1 through 32. In addition, on February 25, 2009, the Authority issued its Annual Continuing Disclosure Report (the “Report”). This Release No. 33 does not purport
to include every item that may be of interest to owners of the Bonds, nor does it purport to present “full and fair disclosure” with respect to the Bonds within the meaning of applicable
federal and state securities laws. Capitalized terms used but not defined in this Release No. 33 have the meanings given those terms in the official statement dated April 13, 2006 relating
to the Bonds (the “Official Statement”). Filing of Foreclosure Action Relating to Nonpayment of Special Taxes Ashby USA, LLC (the “Developer”) failed to pay the two most recent installments
(each, a “Property Tax Installment”) of property taxes levied on the parcels that it owns within the project, including the Special Taxes that the Community Facilities District has levied
on such parcels. The first delinquent Property Tax Installment (including the Special Taxes) became delinquent on December 10, 2008. The amount of delinquent Special Taxes relating to
the first delinquent Property Tax Installment is equal to $1,180,188.92, excluding penalties. The second delinquent Property Tax Installment (including the Special Taxes) became delinquent
on April 10, 2009. The amount of delinquent Special Taxes relating to the second delinquent Property Tax Installment is also equal to $1,180,188.92, excluding penalties. According to
the records of the County of Riverside, the other owners of parcels within the Community Facilities District have paid the property taxes (and Special Taxes) related to such parcels.
On April 8, 2009, the City Attorney filed two motions (the “Motions”) in the United States Bankruptcy Court for the District of Nevada (the “Bankruptcy Court”). The Motions requested
the Bankruptcy Court provide the Authority with relief regarding the applicability of the automatic stay imposed in the bankruptcy proceedings of each of USA Commercial Mortgage Company
and USA Investment Partners, LLC. The Bankruptcy Court entered an Order approving the Motion with respect to USA Commercial Mortgage Company bankruptcy proceedings on June 11, 2009 and
the Bankruptcy Court entered an Order approving the Motion with respect to USA Investment Partners, LLC on June 12, 2009. Copies of these Orders are attached to this Release No. 33 as
Exhibit A. Upon the approval by the Bankruptcy Court of these Motions, on June 17, 2009, the Authority filed a Complaint for Judicial Foreclosure (the “Complaint”) in the Superior Court
of the State of California,
County of Riverside – Riverside Court. The Complaint commences a judicial foreclosure against the Developer and the parcels it owns within the Community Facilities District for the non-payment
of the Special Taxes. A copy of the Complaint is attached to this Release No. 33 as Exhibit B. Steps by Beneficial Owners to Augment Transmission of Notices Owners of the Bonds should
be aware of steps that they can take to augment the transmission of notices with respect to the Bonds. In order to be assured of receiving notice, beneficial owners of the Bonds may
wish to ascertain that the nominee who holds the Bonds for their benefit has agreed to obtain and transmit notices to the beneficial owners, or in the alternative, beneficial owners
may wish to provide their names and addresses to the Authority and request that copies of future notices be provided directly to them. Such requests should be sent to: Temecula Public
Financing Authority c/o Richards, Watson & Gershon 355 South Grand Avenue, 40th Floor Los Angeles, California 90071 Attn: Peter Thorson or may be sent by e-mail to pthorson@rwglaw.com.
Any requests to receive any prior Releases by the Authority should be made to the same address or e-mail. Concluding Matters. ANY SUBSEQUENT STATEMENTS REGARDING THE BONDS, OTHER THAN
A STATEMENT MADE BY THE AUTHORITY IN AN OFFICIAL RELEASE OR SUBSEQUENT NOTICE AND/OR FILED WITH THE MUNICIPAL SECURITIES RULEMAKING BOARD OR A NATIONALLY RECOGNIZED MUNICIPAL SECURITIES
INFORMATION REPOSITORY, ARE NOT AUTHORIZED BY THE AUTHORITY. THE AUTHORITY SHALL NOT BE RESPONSIBLE FOR THE ACCURACY, COMPLETENESS OR FAIRNESS OF ANY SUCH UNAUTHORIZED STATEMENT. THIS
OFFICIAL RELEASE MAY CONTAIN INFORMATION MATERIAL TO BONDOWNERS AND DOES NOT PURPORT TO CONTAIN ALL MATERIAL INFORMATION WITH RESPECT TO THE BONDS OR THE FINANCIAL CONDITION OF THE COMMUNITY
FACILITIES DISTRICT. THE INFORMATION CONTAINED IN THIS OFFICIAL RELEASE IS NOT GUARANTEED AS TO ACCURACY OR COMPLETENESS.
EXHIBIT A ORDERS
__________________________________ Hon. Linda B. Riegle United States Bankruptcy Judge ___________________________________________________________ Entered on Docket June 11, 2009 Case
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__________________________________ Hon. Linda B. Riegle ____________________________________U_n_i_te_d _S_ta_te_s_ B_a_nk_r_up_t_cy_ J_u_d_g_e___ Entered on Docket June 12, 2009 Case
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EXHIBIT B COMPLAINT
c. 0 CLt . 8 c. :5 1 5 a: '" a: -_. PETER M. THORSON CITY ATTORNEY CITY OF TEMECULA RICHARDS, WATSON & GERSHON A Professional Corporation STEVEN R. ORR (136615) (sorr(lrwglaw.com) "
'''N WHITNEY G. MCDONALD (245587) (wmcdonald rwglaw.com) 355 South Grand A venue, 40th Floor Los Angeles, California 90071-3101 Telephone: (213) 626-8484 FacsImile: (213) 626-0078 Attorneys
for Plaintiff TEMECULA PUBLIC FINANCING AUTHORITY for itself and on behalf of TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIP AUGH RANCH) SUPERIOR
COURT OF THE STATE OF CALIFORNIA COUNTY OF RIVERSIDE -RIVERSIDE COURT TEMECULA PUBLIC FINANCING AUTHORITY, a California joint powers authority, for itself and on behalf of TEMECULA PUBLIC
FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIP AUGH RANCH), a California community facilities district Case 529073 COMPLAINT FOR JUDICIAL FORECLOSURE (Exempt from
Filing Fees Pursuant to Govt. Code 6103J Plaintiff vs. ASHBY USA, LLC, a California limited liability company; ASHBY DEVELOPMENT COMPANY, INC. a California corporation; GRC DEVELOPMENT
COMPANY, L.P. , a California limited partnership; USA INVESTMENT PARTNERS, LLC, a Nevada limited liability company; OHIO SAVINGS BANK, a federal savings bank, also known as AMTRUST BANK;
UNITED RENTALS NORTHWEST, INC. , an Oregon corporation; PACIFIC UTILITY INSTALLATION, INC. , a California co oration; DIAZ 11086-0636\ I I 26468v l.doc Complaint for Judicial Foreclosure
:or 8 c. 0 e. l. 8 c. -;; c. oe . ~ :cr: i: u 0 e. !; CONSTRUCTION COMPANY, INC. , a California corporation; RALPH D. MITZEL INc. ' a California corporation; JAGUR TRACTOR, a California
corporation; KLAER BRITTAIN, INC. , a California corporation doing business as KBI GENERAL CONTRACTORS; SCHILLING CORPORATION, a California corporation; VA CONSUL TING, INC. , a California
corporation formerly known as V AN DELL & ASSOCIATES; DAVID L. ADDISON, INc. ' a California corporation, doing business as ADDISON EQUIPMENT RENTAL; ASHBY FINANCIAL COMPANY, INC. , a
California corporation; MATTHEW FAGAN CONSUL TING SERVICES, an entity of unknown form; GRIFFITH COMPANY, a California corporation; BJ PALMER & 12 ASSOCIATES, INC. , a California corporation;
13 ! MISSION POOLS OF ESCONDIDO, INC. , a California corporation; SOUTH COAST CONCRETE CONSTRUCTION, INC. , a California corporation; ARCHITECTURAL DOORS, INC. , a California corporation;
COAST RECREATION, INC. , a Delaware corporation; PARK SPECIAL TIES, an entity of unknown form; RIVERSIDE CONSTRUCTION COMPANY, INC. , a California corporation; and Does 1 through 100
inclusive Defendants. Plaintiff Temecula Public Financing Authority, for itself and on behalf of 23 I Temecula Public Financing Authority Community Facilities District No. 03-24 II (Roripaugh
Ranch) alleges as follows: 25 26 II times material hereto was, a California joint powers authority vested with all of the power 27 II of the Authority with regard to public financing,
and existing under the laws of the State 28 i of California, and at all times material hereto, is and was acting in its lawful and official Plaintiff Temecula Public Financing Authority
("Authority ) is , and at all I 1086-0636\1 I 26468vl.doc Complaint for Judicial Foreclosure
:~:!~! II capacity as the legislative body of Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch), a California community facilities district
I ("District The Authority is informed and believes, and thereon alleges, that defendant Ashby USA, LLC ("Ashby USA") is a limited liability company, formed and existing under the laws
of the State of California, and is the record title holder of County of Riverside Assessor s Parcel Numbers ("APNs ) 964-180-004, 964-180-005 , 964-180-017, 964-180-018, 964-180-019,
964-180-020, 964-180-022, 964-180-023 , 964-180-024; 964-180-025 , 964-180-026, and 964-180-027 (collectively "Properties ) which are sought to be foreclosed upon by this action. The
Authority is informed and believes, and thereon alleges, that defendant Ashby Development Company, Inc. is a corporation, formed and existing under the laws of the State of California,
and holds or claims to hold a beneficial interest in the Properties. The Authority is informed and believes, and thereon alleges, that defendant GRC Development Company, L.P. is a limited
partnership, formed and existing under the laws of the State of California, and holds or claims to hold a beneficial interest in the Properties. The Authority is informed and believes,
and thereon alleges, that defendant USA Investment Partners, LLC is a limited liability company, formed and existing under the laws of the State of Nevada, and holds or claims to hold
a beneficial interest in the Properties. The Authority is informed and believes, and thereon alleges, that defendant Ohio Savings Bank is a federal savings bank, with its principal place
of business in Columbus, Ohio, and holds or claims to hold a beneficial interest the Properties , and is also known as AmTrust Bank. The Authority is informed and believes, and thereon
alleges, that defendant United Rentals Northwest, Inc. is a corporation, formed and existing under the laws of 11086-0636\ I 26468v l.doc Complaint for Judicial Foreclosure
:~:!~! the State of Oregon, and holds or claims to hold a beneficial interest in the Properties. The Authority is informed and believes, and thereon alleges, that defendant II Pacific
Utility Installation , Inc. is a corporation, formed and existing under the laws of II the State of California, and holds or claims to hold a lien against the Properties. II Diaz Construction
Company, Inc. is a corporation, formed and existing under the laws of the State of California, and holds or claims to hold a lien against the Properties. The Authority is informed and
believes, and thereon alleges, that defendant 10. The Authority is informed and believes, and thereon alleges, that defendant Ralph D. Mitzel, Inc. is a corporation, formed and existing
under the laws of the State of California, and holds or claims to hold a lien against the Properties. 11. The Authority is informed and believes , and thereon alleges, that defendant
Jagur Tractor, is a corporation, formed and existing under the laws of the State of California, and holds or claims to hold a lien against the Properties. 12. The Authority is informed
and believes, and thereon alleges , that defendant Klaer Brittain , Inc. , doing business as KBI General Contractors is a corporation, formed and existing under the laws of the State
of California, and holds or claims to hold a lien against the Properties. 13. The Authority is informed and believes , and thereon alleges, that defendant Schilling Corporation is a
corporation, formed and existing under the laws of the State of California, and holds or claims to hold a lien against the Properties. 14. The Authority is informed and believes, and
thereon alleges, that defendant VA Consulting, Inc. , formerly known as Van Dell & Associates, is a corporation, formed 23 Ii and existing under the laws of the State of California,
and holds or claims to hold a lien 25 26 II David L. Addison , Inc. , doing business as Addison Equipment Rental is a corporation 1 formed and existing under the laws of the State of
California, and holds or claims to hold 28 II a lien against the Properties. against the Properties. 15. The Authority is informed and believes, and thereon alleges, that defendant II086-0636\II26468
vl.doc Complaint for Judicial Foreclosure
1 I 16. The Authority is informcd and believcs, and thereon alleges , that defendant I Ashby Financial Company, Inc. is a corporation, formed and existing under the laws of 3 I the State
of California, and has rccorded a lien for misccllancons service charges against I' the Properties. I Matthew Fagan Consulting Services is an entity of unknown form, and holds or claims
to 17. The Authority is informed and believes , and thereon alleges, that defendant hold a lien against the Properties. 18. The Authority is informed and believes, and thereon alleges,
that defendant I, Griffith Company is a corporation, formed and existing under the laws of the State of 10 II California, and holds or claims to hold a lien against the Properties. :~:!~!
19. The Authority is informed and believes, and thereon alleges, that defendant BJ Palmer & Associates , Inc. is a corporation, formed and existing under the laws of the State of California,
and holds or claims to hold a lien against the Properties. 20. The Authority is informed and believes, and thereon alleges, that defendant Mission Pools of Escondido, Inc. is a corporation,
formed and existing under the laws of the State of California, and holds or claims to hold a lien against the Properties. 21. The Authority is informed and believes, and thereon alleges,
that defendant South Coast Concrete Construction, Inc. is a corporation, formed and existing under the laws of the State of California, and holds or claims to hold a lien against the
Properties. 20 22. The Authority is informed and believes, and thereon alleges, that defendant 21 II Architectural Doors, Inc. is a corporation, formed and existing under the laws of
the State 22 II of California, and holds or claims to hold a lien against the Properties. 23. The Authority is informed and believes, and thereon alleges , that defendant Coast Recreation,
Inc. is a corporation, formed and existing under the laws of the State of California, and holds or claims to hold a lien against the Properties. 24. The Authority is informed and believes
, and thereon alleges, that defendant Park Specialties is an entity of unknown form, and holds or claims to hold a lien against the Properties. 11086-0636\ 1 26468v l.doc Complaint for
Judicial Foreclosure
:or 8 c. 0 0. ~ L. 8 c. ~ ~ c. 0. :cr: i: u 0 0. !; :~:!~! 25. The Authority is informed and believes, and thereon alleges, that defendant Riverside Construction Company, Inc. is a corporation,
formed and existing under the laws of the State of California, and holds or claims to hold a lien against the Properties. 26. The Authority is informed and believes, and thereon alleges
, that the identities of the persons and entities sued as Does 1 through 100, inclusive, are presently unknown to the Authority, and the Authority therefore sues these defendants, and
each of them, under such fictitious names, pursuant to the applicable provisions of the Code of Civil Procedure. When the true names and capacities of these Doe defendants are ascertained
by the Authority, plaintiff wil seek leave of court to amend its complaint to allege the same. 27. The Authority is informed and believes, and thereon alleges, that each of the fictitiously
named defendants, sued herein as Does 1 through 100 , inclusive, has or claims to have, some interest in the some or all of the parcels comprising the Properties which interests are,
by operation of applicable provisions of law, subject to and junior to the special tax liens held by the Authority, and wil be foreclosed upon through this 16 action. 24 II 2009, the
Properties are known as APNs 964-180-004, 964-180-005 , 964-180-017 964-26 II 025 964-180-026 and 964-180-027. 27 I 1086-0636\1 I 26468vl.doc 21 22 28. The Authority, pursuant to the
applicable provisions of the Mello-Roos Community Facilities Act of 1982, as codified, Government Code section 53311 et seq. Mello-Roos Act ), formed the District, for the purpose of
financing certain public facilities and services within the District. The Authority thereafter imposed a continuing lien to secure each annual levy of a special tax against parcels of
real property within the District, more particularly described below. 29. The subject properties are located within the District. For fiscal year 2008-180-018 964-180-019 964-180-020,
964-964-180-022, 964-180-023 , 964-180-024, 964-180-Complaint for Judicial Foreclosure
20 II District for Fiscal Year 2008-2009 was $2 360 377. , which was due and payable on 21 II December 10 2008 and April 10, 2009 , in two installments. 22 23 I Propertics became delinqncnt
by rcason of non-payment, and remain so to the present. 24 II These delinquent amounts, set forth in Exhibit 1 hereto on a parcel-by-parcel basis, and 25 II incorporated fully by this
reference, represent the special taxes levied, which have 26 I! become delinquent by reason of non-payment. 28 II 1 I086-0636\II26468vLdoc ~!! 30. Should the County of Riverside, for
whatever reason, change, alter or modify any or all of the aforesaid parcel numbers, the Authority may seek leave to make the appropriate amendments to the aforesaid list of parcel numbers,
or address any such numbering changes concurrently with entry of judgment herein. Nevertheless, the Authority is informed and believes, and thereon alleges, that this present listing,
accurately describes the real property upon which the Authority seeks to foreclose through this judicial foreclosure proceeding. 31. The obligation to pay each annual levy of the special
tax against the Properties has been and is secured, pursuant to the applicable provisions of section 3114. 5 of the California Streets and Highways Code, by a continuing lien recorded
with the Riverside County Recorder s Office. That Notice of Special Tax Lien was recorded on January 14 2005 as Instrument No. 2005-0039138. The special tax lien is senior in priority
to any lien, interest or claim of defendants, and each of them. 32. Based upon the security of the special taxes, The Authority issued special tax bonds pursuant to the applicable provisions
of the Mello-Roos Act. 33. Collection of the subject special taxes was done on the regular property tax bill prepared by the County of Riverside Tax Collector, setting forth the amount
of each annual levy of special taxes levied against the parcels comprising the Properties. 34. The annual levies against the parcels comprising the Properties for the 35. On December
10, 2008 , $1 180 188.92 in special taxes levied against the 36. On April 10, 2009 , $1 180 188. 92 in special taxes levied against the Properties became delinquent by reason of non-payment,
and remain so to the present. Complaint for Judicial Foreclosure
:~:!~! These delinquent amounts, set forth in Exhibit 1 hereto on a parcel-by-parcel basis, and incorporated fully by this reference, represent the special taxes levied which have become
delinquent by reason of non-payment. 37. As of July 1 2009, interest will begin to accrue on the 2008-2009 delinquent special taxes at the rate of 1. 5% per month, and wil continue to
accrue at that rate until the delinquency is resolved. 38. Additional special taxes levied against the parcels comprising the Properties will become due and owing, and wil become delinquent
if not timely paid by I each December 10th and April 10th thereafter. Should this action remain pending when any future special tax becomes delinquent, recovery of those amounts wil
be sought by the Authority by way of this action, whether through an amendment sought on motion, by stipulation, motion to amend to conform to proof, or other method approved by the
Court. 39. As of July 1st in any succeeding year, interest wil begin to accrue on any subsequent delinquencies at the statutory rate of 1. 5% per month, and wil continue to accrue at
that rate until the delinquency is resolved. 40. On the dates of delinquencies aforesaid, bonds issued by the Authority pursuant to the Mello-Roos Act, payable in whole or in part by
the subject special taxes were outstanding. 41. In addition to the special taxes currently delinquent, the District is authorized by law, entitled to receive and seeks through this action,
any subsequently 21 delinquent special taxes, penalties , interest, attorney s fees and other authorized charges and costs, all of which are calculated up to the date of judgment. 23
24 II ordering the removal of the delinquent taxes from the County s tax rolls so that the Authority could pursue this foreclosure in its own right. 42. The Board of Directors of the
Authority adopted Resolution No. 08-43. Pursuant to Resolutjon No. 08-, the Authority has ordered that this action be commenced against defendants, and each of them, in the Superjor
Court of the State of California for the County of Riverside, to foreclose upon the subject special tax lien and 1 1086-0636\1 1 26468vl.doc Complaint for Judicial Foreclosure
23 II retain the law firm of Richards, \Vatson & Gershon, a Professional Corporation, to prosecute the instant action for judicial foreclosure , in addition to other professionals including
counsel to obtain relief from stay in the United States Bankruptcy Court. The 26 II Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 27 court
as well as the costs of suit and collection. 28 I II086-0636\II26468vl.doc :~:!~! ' to obtain judgment decreeing the amount of the continuing lien against each parcel to be II foreclosed
and ordering that the parcels be sold on execution, among other relief to which II the Authority is entitled by law. FIRST CAUSE OF ACTION (Judicial Foreclosure -All Parcels) (Against
All Defendants) 44. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 45. The Authority has properly levied annual special taxes on the Properties
identified in Exhibit 1 , payable collectively in two installments, which were due on December 10 2008 and April 10, 2009. 46. The December 10, 2008 and April 10, 2009 installments as
to all parcels comprising the Properties went unpaid, and remain so, and those parcels are accordingly delinquent. 47. By reason of the aforesaid delinquencies, the Authority is entitled
to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed, including special taxes which become delinquent after the commencement of these proceedings
, and an order directing that each parcel shall be sold on execution. The Authority is additionally entitled to recover penalties, interest, attorney s fees and other authorized charges
and costs , in amounts according to proof. 48. As a result of the aforesaid delinquency, the Authority has been forced to Complaint for Judicial Foreclosure
49. The Authority hereby incorporates paragraphs 1-, inclusive, as though set lorth in full. 11 50. The annual levy of special taxes against the property commonly identified I' as APN
964-180-004 for the District for Fiscal Year 2008-2009 was $144 484. , which was due and payable on December 10 2008 and April 1 0 2009, in two equal retain the law firm of Richards,
Watson & Gershon, a Professional Corporation, to prosecute the instant action for judicial foreclosure, in addition to other professionals including counsel to obtain relief from stay
in the United States Bankruptcy Court. The 24 II Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 25 II court as well as the costs of suit
and collection. 26 27 I 10'6.0636\11 26468,ld" ~!! SECOND CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) installments. 51. On December 10, 2008 , $72 242. 18 in special
taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 52. On April 10 2009, $72 242. 18 in special taxes levied against this parcel
became delinquent by reason of non-payment, and remains so to the present. 53. By reason of the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing
special tax lien against each parcel to be foreclosed including special taxes which become delinquent after the commencement of these proceedings , and an order directing that each parcel
shall be sold on execution. The Authority is additionally entitled to recover penalties, interest, attorney s fees and other authorized charges and costs, in amounts according to proof.
54. As a result of the aforesaid delinquency, the Authority has been forced to Complaint for Judicial Foreclosure
~!! 1 I THIRD CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) 55. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 56. The annual
levy against the property commonly identified as APN 964-180-005 for the District for Fiscal Year 2008-2009 was $149 800. , which was due and , payable on December 10 2008 and April
10, 2009 , in two equal installments. 57. On December 10 2008, $74 900. 09 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the
present. 58. On April 10, 2009 , $74 900.09 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 59. By reason of the
aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes which become
delinquent after the commencement of these proceedings , and an order directing that each parcel shall be sold on execution. The Authority is additionally entitled to recover penalties,
interest, attorney s fees and other authorized charges and costs, in amounts according to proof. 60. As a result of the aforesaid delinquency, the Authority has been forced to 20 retain
the law firm of Richards, Watson & Gershon, a Professional Corporation, to 21 prosecute the instant action for judicial foreclosure, in addition to other professionals 22 II including
counsel to obtain relief from stay in the United States Bankruptcy Court. The 23 II Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 24 II
court as well as the costs of suit and collection. 25 26 27 11086-0636\ 1 26468v l.doc Complaint for Judicial Foreclosure
if Ic-: 0 c. :~:!~! FOURTH CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) 61. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full.
62. The annual levy against the property commonly identified as APN 964-180-017 for the District for Fiscal Year 2008-2009 was $280 888. , which was due and payable on December 10 2008
and April 10, 2009 , in two equal installments. 63. On December 10 2008 , $144,444.32 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains
so to the present. 64. On April 10, 2009, $144 444. 32 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 65. By reason
of the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against
each parcel to be foreclosed including special taxes which become delinquent after the commencement of these proceedings, and an order directing that each each parcel shall be sold on
execution. The Authority is additionally entitled to recover penalties, interest, attorney s fees and other authorized charges and costs, in amounts according to proof. 66. As a result
of the aforesaid delinquency, the Authority has been forced to retain the law firm of Richards, Watson & Gershon, a Professional Corporation, to prosecute the instant action for judicial
foreclosure, in addition to other professionals including counsel to obtain relief from stay in the United States Bankruptcy Court. The Authority is entitled to recover reasonable attorney
s fees in an amount to be fixed by the court as well as the costs of suit and collection. 12-11086-0636\ 1 26468v l.doc Complaint for Judicial Foreclosure
~!! FIFTH CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) 67. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 68. The annual
levy against the property commonly identified as APN 964-180-018 for the District for Fiscal Year 2008-2009 was $436 748. , which was due and payable on December 10 2008 and April 10,
2009 , in two equal installments. 69. On December 10 2008 , $218 374.44 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the
present. 70. On April 10, 2009 , $218 374.44 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 71. By reason of the
aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes which become
delinquent after the commencement of these proceedings , and an order directing that each parcel shall be be sold on execution. The Authority is additionally entitled to recover penalties,
interest, attorney s fees and other authorized charges and costs, in amounts according to proof. 72. As a result of the aforesaid delinquency, the Authority has been forced to retain
the law firm of Richards , Watson & Gershon, a Professional Corporation, to 21 prosecute the instant action for judicial foreclosure, in addition to other professionals 22 II including
counsel to obtain relief from stay in the United States Bankruptcy Court. The Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 24 Ii court
as well as the costs of suit and collection. 25 i 26 27 13-11086-0636\ 1 26468v l.doc Complaint for Judicial Foreclosure
c. :~:!~! SIXTH CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) 73. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 74. The annual
levy against the property commonly identified as APN 964-180-019 for the District for Fiscal Year 2008-2009 was $101 404. , which was due and payable on December 10 2008 and April 10,
2009, in two equal installments. 75. On December 10 2008 , $50 702. 07 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present.
76. On April 10, 2009 , $50 702.07 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 77. By reason of the aforesaid
delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes which become delinquent
after the commencement of these proceedings , and an order directing that each parcel shall be sold on execution. The Authority is additionally entitled to recover penalties , interest,
attorney s fees and other authorized charges and costs, in amounts according to proof. 78. As a result of the aforesaid delinquency, the Authority has been forced to 20 ' retain the
law firm of Richards, Watson & Gershon, a Professional Corporation, to prosecute the instant action for judicial foreclosure, in addition to other professionals including counsel to
obtain relief from stay in the United States Bankruptcy Court. The 23 Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 24 I' court as well
as the costs of suit and collection. 26 I 27 28 ' 14-II 086-0636\1 I 26468v Ldoc Complaint for Judicial Foreclosure
including counsel to obtain relief from stay in the United States Bankruptcy Court. The 23 Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the
24 II court as well as the costs of suit and collection. 25 26 27 II 11086-0636\ 1 I 26468v I .doc :~:!~! SEVENTH CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) 79.
The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 80. The annual levy against the property commonly identified as APN 964-180-020 for the District
for Fiscal Year 2008-2009 was $325 116. , which was due and payable on December 10 2008 and April 10, 2009 , in two equal installments. 81. On December 10, 2008 , $162 558. 19 in special
taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 82. On April 10, 2009 , $162 558.19 in special taxes levied against this parcel
became delinquent by reason of non-payment, and remains so to the present. 83. By reason of the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing
special tax lien against each parcel to be foreclosed including special taxes which become delinquent after the commencement of these proceedings, and an order directing that each parcel
shall be sold on execution. The Authority is additionally entitled to recover penalties, interest, attorney s fees and other authorized charges and costs, in amounts according to proof.
84. As a result of the aforesaid delinquency, the Authority has been forced to retain the law firm of Richards, Watson & Gershon, a Professional Corporation, to prosecute the instant
action for judicial foreclosure, in addition to other professionals 15-Complaint for Judicial Foreclosure
85. forth in full. 86. :~:!~! EIGHTH CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) The Authority hereby incorporates paragraphs 1-, inclusive, as though set The annual
levy against the property commonly identified as APN 964-180-022 for the District for Fiscal Year 2008-2009 was $267 811. , which was due and payable on December 10 2008 and April 10,
2009 , in two equal installments. 87. On December 10 2008 , $133 905. 84 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the
present. 88. On April 10, 2009 , $133 905. 84 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 89. By reason of
the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes which become
delinquent after the commencement of these proceedings, and an order directing that each parcel shall be sold on execution. The Authority is additionally entitled to recover penalties,
interest, attorney s fees and other authorized charges and costs , in amounts according to proof. 90. As a result of the aforesaid delinquency, the Authority has been forced to retain
the law firm of Richards, Watson & Gershon, a Professional Corporation, to prosecute the instant action for judicial foreclosure, in addition to other professionals 22 including counsel
to obtain relief from stay in the United States Bankruptcy Court. The 23 II Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 24 II court as
well as the costs of suit and collection. II 086.0636\ 1126468, Idoc Complaint for Judicial Foreclosure
c. ~!! NINTH CAUSE OF ACTION (J udicial Foreclosure) (Against All Defendants) 91. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 92. The annual
levy against the property commonly identified as APN 964-180-023 for the District for Fiscal Year 2008-2009 was $223 158. , which was due and payable on December 10 2008 and April 10,
2009 , in two equal installments. 93. On December 10 2008, $111 579. 34 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the
present. 94. On April 10, 2009 , $111 579. 34 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 95. By reason of
the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes which become
delinquent after the commencement of these proceedings, and an order directing that each parcel shall be sold on execution. The Authority is additionally entitled to recover penalties,
interest, attorney s fees and other authorized charges and costs, in amounts according to proof. 96. As a result of the aforesaid delinquency, the Authority has been forced to 20 retain
the law firm of Richards, Watson & Gershon, a Professional Corporation, to 21 prosecute the instant action for judicial foreclosure, in addition to other professionals 22 including counsel
to obtain relief from stay in the United States Bankruptcy Court. The 23 Ii Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 24 II court as
well as the costs of suit and collection. 26 27 17-11086-0636\ 1 1 26468v l.doc Complaint for Judicial Foreclosure
:or 8 c. 0 0. ~ I. 8 c. ~ ~ c. 0. '" c:: r 0. !; :~:!~! TENTH CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) 97. The Authority hereby incorporates paragraphs 1-, inclusive,
as though set forth in full. 98. The annual levy against the property commonly identified as APN 964-180-024 for the District for Fiscal Year 2008-2009 was $106 529. , which was due
and payable on December 10 2008 and April 10 2009, in two equal installments. 99. On December 10 2008 , $53 264. 65 in special taxes levied against this parcel became delinquent by reason
of non-payment, and remains so to the present. 100. On April 1 0 2009, $53 264. 65 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains
so to the present. 101. By reason of the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed
including special taxes which become delinquent after the commencement of these proceedings, and an order directing that each parcel shall be sold on execution. The 17 I Authority is
additionally entitled to recover penalties , interest, attorney s fees and other authorized charges and costs, in amounts according to proof. 102. As a result of the aforesaid delinquency,
the Authority has been forced to retain the law firm of Richards , Watson & Gershon, a Professional Corporation, to prosecute the instant action for judicial foreclosure, in addition
to other professionals including counsel to obtain relief from stay in the United States Bankruptcy Court. The Authority is entitled to recover reasonable attorney s fees in an amount
to be fixed by the court as well as the costs of suit and collection. 11086-0636\ 1 1 26468v I .doc Complaint for Judicial Foreclosure
c. :~:!~! ELEVENTH CAUSE OF ACTION (Judicial Foreclosure) (Against All Defendants) 103. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 104.
The annual levy against the property commonly identified as APN 964-180-025 for the District for Fiscal Year 2008-2009 was $130 556. , which was due and payable on December 10 2008 and
April 10, 2009 , in two equal installments. 105. On December 10 2008 , $65 278.43 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains
so to the present. 106. On April 10, 2009 , $65 278.43 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 107. By
reason of the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes
which become delinquent after the commencement of these proceedings , and an order directing that each parcel shall be sold on execution. The Authority is additionally entitled to recover
penalties, interest, attorney s fees and other authorized charges and costs, in amounts according to proof. 108. As a result of the aforesaid delinquency, the Authority has been forced
to retain the law firm of Richards, Watson & Gershon, a Professional Corporation, to prosecute the instant action for judicial foreclosure, in addition to other professionals 22 including
counsel to obtain relief from stay in the United States Bankruptcy Court. The 23 I Authority is entitled to recovcr reasonable attorney s fees in an amount to be fixed by the 24 II comi
as well as the costs of suit and collection. 25 27 19-11086-0636\ I 26468v l.doc Complaint for Judicial Foreclosure
:~:!~! TWELFTH CAUSE OF ACTION (J udi cial F orecl osure ) (Against All Defendants) 109. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 110.
The annual levy against the property commonly identified as APN 964-180-026 for the District for Fiscal Year 2008-2009 was $79 858. , which was due and payable on December 10 2008 and
April 1 0 2009, in two equal installments. 111. On December 10 2008 , $39 929. 14 in special taxes levied against this 10 , parcel became delinquent by reason of non-payment, and remains
so to the present. 112. On April 1 0 2009, $39 929. 14 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 113. By
reason of the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes
which become delinquent after the commencement of these proceedings, and an order directing that each each parcel shall be sold on execution. The Authority is additionally entitled to
recover penalties, interest, attorney s fees and other authorized charges and costs , in amounts according to proof. 114. As a result of the aforesaid delinquency, the Authority has
been forced to retain the law firm of Richards, Watson & Gershon, a Professional Corporation , to prosecute the instant action for judicial foreclosure, in addition to other professionals
including counsel to obtain relief from stay in the United States Bankruptcy Court. The Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the court
as well as the costs of suit and collection. 20-I 1086-0636\1 1 26468vl.doc Complaint for Judicial Foreclosure
THIRTEENTH CAUSE OF ACTION 2 , (Judicial Foreclosure) (Against All Defendants) 115. The Authority hereby incorporates paragraphs 1-, inclusive, as though set forth in full. 116. The
annual levy against the property commonly identified as APN 964-180-027 for the District for Fiscal Year 2008-2009 was $114 020.46, which was due and payable on December 10 2008 and
April 10, 2009, in two equal installments. 117. On December 10 2008 , $57 010. 23 in special taxes levied against this 10 I parcel became delinquent by reason of non-payment, and remains
so to the present. 21 prosecute the instant action for judicial foreclosure, in addition to other professionals 22 Ii including counsel to obtain relief from stay in the United States
Bankruptcy Court. The 23 II Authority is entitled to recover reasonable attorney s fees in an amount to be fixed by the 24 II court as well as the costs of suit and collection. 25 26
27 28 :~:!~! 118. On April 10, 2009 , $57 010.23 in special taxes levied against this parcel became delinquent by reason of non-payment, and remains so to the present. 119. By reason
of the aforesaid delinquency, the Authority is entitled to a decree of the amount of the continuing special tax lien against each parcel to be foreclosed including special taxes which
become delinquent after the commencement of these proceedings , and an order directing that each parcel shall be sold on execution. The Authority is additionally entitled to recover
penalties, interest, attorney s fees and other authorized charges and costs, in amounts according to proof. 120. As a result of the aforesaid delinquency, the Authority has been forced
to retain the law firm of Richards, Watson & Gershon, a Professional Corporation, to 21-11086-0636\ 1 I 26468v l.doc Complaint for Judicial Foreclosure
:~:!~! WHEREFORE, plaintiff Temecula Public Financing Authority, for itself and behalf ofTemecula Public Financing Authority Community Facilities District No. 03-(Roripaugh Ranch) prays
for judgment as follows: FIRST CAUSE OF ACTION A decree of foreclosure on all the parcels in the amount of the continuing special tax lien against that parcel. An order directing that
the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. Penalties, and all other authorized charges and costs. Costs of
suit and collection. Such other relief as the court may deem just and proper. SECOND CAUSE OF ACTION A decree of foreclosure on APN 964-180-004 in the amount of the continuing special
tax lien against that parcel. An order directing that the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. )6 1. A decree of foreclosure on APN
964-180-005 in the amount of the ;7 II continuing special tax lien against that parcel. II I 1086-0636\1 I 26468vldoc Interest as allowed by law. Penalties , and all other authorized
charges and costs. Costs of suit and collection. Such other relief as the court may deem just and proper. THIRD CAUSE OF ACTION An order directing that the parcel shall be sold on execution.
Complaint for Judicial Foreclosure
:~:!~! III //1 Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. Penalties, and all other authorized charges and costs. Costs of suit and collection. Such
other relief as the court may deem just and proper. FOURTH CAUSE OF ACTION A decree of foreclosure on APN 964-180-017 in the amount of the continuing special tax lien against that parcel.
An order directing that the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. Penalties , and all other authorized charges
and costs. Costs of suit and collection. Such other relief as the court may deem just and proper. FIFTH CAUSE OF ACTION A decree of foreclosure on APN 964-180-018 in the amount of the
continuing special tax lien against that parcel. An order directing that the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed
by law. Penalties , and all other authorized charges and costs. Costs of suit and collection. Such other relief as the court may deem just and proper. 23-Complaint for Judicial Foreclosure
11086-0636\ I 26468v l.doc
:~:!~! SIXTH CAUSE OF ACTION A decree of foreclosure on APN 964-460-019 in the amount of the continuing special tax lien against that parcel. An order directing that the parcel shall
be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. Penalties, and all other authorized charges and costs. Costs of suit and collection.
Such other relief as the court may deem just and proper. SEVENTH CAUSE OF ACTION A decree of foreclosure on APN 964-460-020 in the amount of the continuing special tax lien against that
parcel. An order directing that the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. Penalties, and all other authorized
charges and costs. Costs of suit and collection. Such other relief as the court may deem just and proper. EIGHTH CAUSE OF ACTION A decree of foreclosure on APN 964-460-022 in the amount
of the continuing special tax lien against that parcel. An order directing that the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as
allowed by law. Penalties , and all other authorized charges and costs. Costs of suit and collection. 24-Complaint for Judicial Foreclosure 11086-0636\ I I 26468v Ldoc
-:~$:!~:! Such other relief as the court may deem just and proper. NINTH CAUSE OF ACTION A decree of foreclosure on APN 964-460-023 in the amount of the continuing special tax lien against
that parcel. An order directing that the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. Penalties, and all other
authorized charges and costs. Costs of suit and collection. Such other relief as the court may deem just and proper. TENTH CAUSE OF ACTION A decree of foreclosure on APN 964-460-024
in the amount of the continuing special tax lien against that parcel. An order directing that the parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court.
23 24 II I . 1. A decree of foreclosure on APN 964-460-025 in the amount of the 5 II contmumg specla tax len agamst t at parce . 26 27 28 Interest as allowed by law. Penalties, and all
other authorized charges and costs. Costs of suit and collection. Such other relief as the court may deem just and proper. ELEVENTH CAUSE OF ACTION An order directing that the parcel
shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. 25-Complaint for Judicial Foreclosure 11086-0636\ 1 I 26468v l.doc
c. :~:!~! Penalties , and all other authorized charges and costs. Costs of suit and collection. Such other relief as the court may deem just and proper. TWELFTH CAUSE OF ACTION A decree
of foreclosure on APN 964-460-026 in the amount of the continuing special tax lien against that parcel. An order directing that the parcel shall be sold on execution. Reasonable attorney
s fees to be fixed by the court. Interest as allowed by law. Penalties, and all other authorized charges and costs. Costs of suit and collection. Such other relief as the court may deem
just and proper. THIRTEENTH CAUSE OF ACTION A decree of foreclosure on APN 964-180-027 in the amount of the continuing special tax lien against that parcel. An order directing that the
parcel shall be sold on execution. Reasonable attorney s fees to be fixed by the court. Interest as allowed by law. Penalties, and all other authorized charges and costs. Costs of suit
and collection. Complaint for Judicial Foreclosure 11086-0636\ 1 I 26468v l.doc
o:r 8 c. 0 0. ~ LL 8 c. ~ --~ $: c. o0 . ~ :cr: i: u 0 0. !; :~:!~! Such other relief as the court may deem just and proper. DATED: June 17 2009 PETER M. THORSON CITY ATTORNEY RICHARDS,
WATSON & GERSHON A Professional Corporation STEVEN R. ORR WHITNEY G. MCDONALD By: STEVEN R. ORR Attorneys for Plaintiff TEMECULA PUBLIC FINANCING AUTHORITY for itself and on behalf of
TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIP AUGH RANCH) This Complaint for Judicial Foreclosure is deemed verified by Code of Civil Procedure section
446(a). Any answer to the allegations thereof must be made positively or according to the information and belief of the defendant, as required by Code of Civil 17 II Procedure section
531. 30( d)). Any answer must also be verified, as required by Code of 24 25 26 28 Civil Procedure section 446(a)). 27-11086-0636\ I I 26468v l.doc Complaint for Judicial Foreclosure
Exhibit 1 Assessor 2008-Special Taxes Special Taxes Statutory Statutory Parcel Total Parcel Ann ual Delinquent Delinquent Penalty Interest Number Levy (12/10/08) (4/10/09) (Commences
to Accrue on 7/1/09) 964-180-004 $144 484. $72 242. $72 242. $14 448.44 $158 932. 964-180-005 $149 800. $74 909. $74 909. $14 980. $164,780. 964-180-017 $280 888. $140,444. $140 444.
$28 088. $308 977. 964-180-018 $436 748. $218 374.44 $218 374.44 $43 674. $480 423. I 964-180-019 $101 404. $50 702. $50 702. $10 140.42 $111 544. 964-180-020 $325 116. $162 558. $162
558. $32 511. $357 628. 964-180-022 $267 811. $133 905. $133 905. $26 781.16 $294 592. 964-180-023 $223 158. $111 579. $111 579. $22 315. $245,474. 964-180-024 $106 529. $53 264. $53
264. $10 652. $117 182. 964-180-025 $130 556. $65 278.43 $65 278.43 $13 055. $143 612. 964-180-026 $79 858. $39 929. $39 929. 985. $87 844. I 964-180-027 $114 020.46 $57 010. $57 010.
$11,402. $125 422. Exhibit 1-I 1086-0636\1 1 26468vldoc