California High Tech Trusts Attornys Can Barely Understand

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business in _________________ County, California].3. Defendant, _________________ [

name of beneficiary

], is, and at all times mentioned was, _________________[

allege capacity and residence, e.g.

, a resident of _________________ County, California].[4. Defendants DOES I through _________________, inclusive, have, or claim to have, an interest in the property,the exact nature of which is unknown to plaintiff. Plaintiff is ignorant of the true names, interests, rights, and capacitiesof defendants sued as DOES I through _________________, inclusive, and therefore sues these defendants by thosefictitious names. Plaintiff will amend this complaint to allege their true names, rights, interests, and capacities whenthey are ascertained.]5. On _________________ [

date

], plaintiff, for a valuable consideration, made and delivered a promissory note(''the note'') in the sum of $ _________________, with interest at the rate of _________________ percent, dated_________________ [

date

] and recorded in _________________ County, California, at book _________________,page _________________.6. On the same day, plaintiff executed and delivered to defendant _________________ (name of beneficiary), asbeneficiary, a certain trust deed (''the trust deed'') recorded in _________________ County, California, at book_________________, page _________________, and covering the following described real property situated in thatcounty (''the property''): _________________ [

describe property, including both legal description and street address orcommon designation, if any

]. The trust deed conveyed the property to defendant _________________ [

name

] as trustee.7. On or about _________________ [

date

], plaintiff and _________________ [

name

] (''the purchaser'') entered intoa written contract by the terms of which plaintiff agreed to sell and the purchaser agreed to buy the property for theprice of $ _________________, subject to the condition that title of record to the property be cleared and the sale beconsummated on or before _________________ [

date

]. As required by the purchaser, the contract expressly providedthat time was of the essence. To secure this contract, plaintiff was required to deposit $ _________________ intoescrow, which, pursuant to the contract of sale, was to be forfeited to the purchaser in the event plaintiff was unable toclear title on or before _________________ [

date

]. A copy of the contract is attached as Exhibit A and incorporated byreference. As required by the contract, an escrow was opened into which the purchaser deposited the full purchase priceto be delivered to plaintiff on completion of the sale, and plaintiff deposited $ _________________, to be delivered tothe purchaser should plaintiff fail to provide a clear title of record.8. Plaintiff, on or about _________________ [

date

], paid in full the obligation secured by the trust deed. At thattime plaintiff, in writing, [notified defendant _________________ (

name of beneficiary

) of the terms and conditions of?the pending sale and] requested that defendant _________________ (

name of beneficiary

) expedite the execution andrecording of a reconveyance and deliver to plaintiff the note and trust deed. A copy of the request is attached as ExhibitB and incorporated by reference.9. In spite of plaintiff's payment of the secured obligation and repeated requests that defendant_________________ (

name of beneficiary

) reconvey the title to plaintiff as required by law [and deliver to plaintiff thenote and trust deed], defendant _________________ (

name of beneficiary

) failed and refused, and continues to fail andrefuse, to do so[, with full knowledge of the pending sale of the property and that completion of the sale would dependon the recording of a reconveyance on or before _________________ (

date

), and that time was of the essence].10. As a proximate result of this failure and refusal of defendant _________________ (

name of beneficiary

) toreconvey, _________________ [

specify detriment sustained as result of this breach of statutory duty and damages, e.g.,

plaintiff was unable to clear title to the property on or before _________________ (

date

), the sale agreement wasterminated by its own terms, and plaintiff's deposit in escrow, together with the purchase price deposited by thepurchaser, were delivered to the purchaser, to plaintiff's damage in the sum of $ _________________. After the datetitle had to be cleared, the market value of the property plummeted, and the property is now worth no more than $Page 21-555 California Real Estate Guide: Litigation and Transactions ? 555.120

Source: http://www.scribd.com/doc/109286477/California-High-Tech-Trusts-Attornys-Can-Barely-Understand

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