IM City and County of San Francisco Carmen Chu, Assessor-Recorder RECORDING REQUESTED BY Doc # 2020028928 Fees $50.00 S tor13/2020 8:57:05. AM Taxes soo ee ES Electronic other $0.00 PEAK FORECLOSURE SERVICES, INC. Pages 12 Title 219 SB2Fees $75.00 Customer 2209 Paid $125.00 5900 Canoga Avenue, Suite 220 Woodland Hills, CA 91367 (818) Oy. a ho 1 Y99 OD (9) “p94 = pol -0} YOU ARE IN DEFAULT UNDER A DEED OF TRUST DATED 12/1/2017. UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF ‘THE PROCEEDING AGAINST YOU, YOU SHOULD CONTACT A LAWYER. NOTICE OF UNIFIED TRUSTEE’S SALE Trustee's Sale No. CA-BPT-20019229 NOTICE TO PROPERTY OWNER: The sale date shown on this notice of sale may be postponed one or more times by the mortgagee, beneficiary, trustee, or a court, pursuant to Section 2924g of the California Civil Code. The law requires that information about trustee sale postponements be made avaliable to you and to the public, as a courtesy to those not present at the sale. If you wish to learn whether your sale date has been postponed, and, if applicable, the rescheduled time and date for the sale ofthis property, you may call 714-730-2727 or vist this Internet Web site www..psasap.com, Using the file number assigned to this case, CA-BPT-20019229, Information about postponements that are very short in duration or that occur close in time to the scheduled sale may not immediately be reflected in the telephone information or on the Intemet Web site. The best way to verify postponement information is to attend the scheduled sale. (On November 19, 2020, at 1:30:00 PM, OUTSIDE THE MEMORIAL COURT GATES BY VAN NESS AVENUE BETWEEN 301 AND 401 VAN NESS AVENUE, in the City of SAN FRANCISCO, County of SAN FRANCISCO, State of CALIFORNIA, PEAK FORECLOSURE SERVICES, INC., a Califomia corporation, as duly apoointed Trustee under that certain Deed of Trust executed by THE SAN FRANCISCO ART INSTITUTE, A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, AS SUCCESSOR TRUSTEE OF THE EDWARD F. SEARLES TRUST DATED NOVEMBER 45, 1906 AS TO THE FEE TITLE, as Trustors, recorded on 12/27/2017, as Instrument No. 2017-K561526-00, of Official Records in the office of the Recorder of SAN FRANCISCO County, State of CALIFORNIA, under the power of sale therein contained, WILL SELL AT PUBLIC AUCTION TO THE HIGHEST BIDDER, for cash, cashier's check drawn on a state or rational bank, check drawn by @ state or federal credit union, or a check drawn by a state or federal savings and loan association, or savings association, or savings bank specified in Section 6102 of the Financial Code and authorized to do business in this state will be held by the duly appointed trustee as shown below, of allright, tile, and interest conveyed to and now held by the trustee in the hereinafter described property under and pursuant to a Deed of Trust described below, The sale will be made, but without covenant or warranty, expressed or implied, regarding title, possession, or encumbrances, to pay the remaining principal sum of the note(s) secured by the Deed of Trust. with interest and late charges thereon, as provided in the note(s), advances, under the terms of the Deed of Trust, interest thereon, fees, charges and expenses of the Trustee for the total amount (at the time of the initial publication of the Notice of Sale) reasonably estimated to be set forth below, The amount may be greater on the day of sale, Property is being sold “as is ~ where is” ‘TAX PARCEL NO, 01-0049-001-01 Beginning at the point formed by the intersection of the Northerly line of Chestnut Street with the Westerly line of Jones Street, running thence Northerly, along said Westerly ine of Jones Street 275 feet to the Southerly line of Francisco Street, thence at a right angle Westerly, along said Southerly line of Francisco Street, 276 feet; thence at a right angle Southerly 278 feet of the Northerly line of Chestnut Street; thence at a right angle Easterly, along said Northerly line of Chestnut Street, 275 feet to the point of beginning Being a portion of 50 Vara Block No. 234 Page 1 of 2NOTICE OF TRUSTEE’S SALE Trustee's Sale No. CA-BPT-20018229 From information which the Trustee deems reliable, but for which Trustee makes no representation or warranty, the street ‘address or other common designation of the above described property is purported to be 800 CHESTNUT ST., SAN FRANCISCO, CA 94133 Said property is being sold for the purpose of paying the obligations secured by said Deed of Trust, including fees and ‘expenses of sale, The total amount of the unpaid principal balance, interest thereon, together with reasonably estimated oss, expenses, and advances at the time of the initial publication of the Notice of Trustee's Sale is $19,662,583 90, Beneficiary hereby elects to conduct @ unified foreclosure sale pursuant to the provisions of California Commercial Code section, 9604(a)(1)(B) et seq., and to include in the non judicial foreciosure sale of the personal property described in the Financing Statement filed on 12/27/2017, between the originaltrustor and the original beneficiary, and pursuant to any other instruments between the trustor and beneficiary referencing a security interest in personal property Beneficiary reserves its right to revoke its election as to some or all of said personal property and/or fixtures, of to add additional personal property andlor fixtures to the election herein expressed, at Beneficiary’s sole election, from time to time and at any time until the consummation of the Trustee's Sale to be conducted pursuant to the Deed of Trust and this, Notice of Unified Trustee's Sale. No warranty is made that any or all of the personel property stil exists or is available for ful bidder and no warranty is made as to the condition of any of the personal property, which shall be sold "as i SEE ATTACHED EXHIBIT "A" (UCC FINANCING STATEMENT) FOR PERSONAL PROPERTY ‘The beneficiary under the Deed of Trust heretofore executed and delivered to the undersigned, a written Declaration of Default and Demand for Sale, and @ Written Notice of Default and Election to Sell. The undersigned caused said Notice of Default and Election to Sell to be recorded in the County where the real property is located, and more than three months have elapsed since such recordation. NOTICE TO POTENTIAL BIDDERS: If you are considering bidding on this property lien, you should understand that there are risks involved in bidding at a trustee auction. You will be bidding on a lien, not on the property itself Placing the highest bid at a trustee auction does not automatically entitle you to free and clear ownership of the property. You should also be aware that the lien being auctioned off may be a junior lien. If you are the highest bidder at the auction, you are or may be responsible for paying off all liens senior to the lien being auctioned off, before you can receive clear tile to the property. You are encouraged to investigate the existence, priority, and size of outstanding liens that may exist on this property by contacting the county recorders office or a title Insurance company, either of which may charge you a fee for this information. If you consult either of these resources, you should be aware that the same lender may hold more than one mortgage or deed of trust on the property WE ARE ATTEMPTING TO COLLECT A DEBT, AND ANY INFORMATION WE OBTAIN WILL BE USED FOR THAT PURPOSE. SALE INFORMATION LINE: 714-730-2727 or www.lpsasap.com Dated: 10/9/2020 Lilian Solano, Trustee Sale Officer ca worsadie A! UCC FINANCING STATEMENT FOUDW INSTRUCTIONS Fx neni t PHONE OF CONTRETA FES pT Stephen A Aron (213) 688-8504 stephen aron@aquirepb. com Seu CRNOMEDCUENT TS fore =z [Squie Patton 80995 (US) LLP An: Stephen A. Aron 555 South Flower Stes, 3151 Foor Los Angeles, CA $0071 L 215411-! 4 17-7624769645 12/27/2017 16:01 FILED es Hage He AvOVE SPACE 5 FOR FLING OPP USE OMY [TDEBTORS WME” Recs x ase ow ing nm oe ene od ah ee wy te naa ti ed TT [The Sian Francisco Ad Institute Seoreane ates toe sibare tr aaaen [5 ie prams roman no ou Fag Stes om Sa eRe Fa a OTT RT 200 Cnesina Stet San Francisco oH [saree fos DEBTORS Nahe Pee oyun Dow mn havo tds ooh SS MTV Ve a NATE pe ne OT ‘ae etoe tte hae stent toaen Py weno nanan ow rons ony ana et Fee So 1 SECURED PARTVS nat sit w Sint w SHOR SERED MOT Marina ag Po Boston Private Bank & Trust Company, a5 Lender on under the Master Loan Agreement dated as of December {, 2017 Sa ST RES TE ESTO ae — PREM "433 California Steet, #810 ‘San Francisco cA [pat08 USA TERLRAL pa sn aaa Pease see Schedule 1 attached hereto Dns tase Cmte toe rman paaaan Crmaenn [nas Fe Torn Fun ReFenmee One CA SOS 11083.00005 FLING OFFICE COPY — UCC PMANGING STATEMENT Form UCC) few. our) MOMBETS MsOGHN GI Commet Rise ACA)UCC FINANCING STATEMENT ADDENDUM FOUOWINSTRUCTONS Tiawe OF FRET GSHTON tyne now nTasow Sammon era ‘enesinatartnarrne erm eer ‘The San Francisco Aa asia SOAS ar ‘ret ont meaty ea pr a ant) eng mes [THE ABOVE Srace 6 roR Fm cemne Use Oxy SE DEBTORS WANE tases [ery Oy kg io Ooi rw rea ta tn nen Suna Pa UE tn 2e00L0eP999 Oh REE TST TAT RTT sehr F poo ‘TT SECURED PARTY Wome [Pf ASSIGNOW BEEORED SORTYS WOME” meno aT Calorie Monicipal Finance Authority On DOR BOT RTT aa ETT } Bae PESTA COE "2111 Polamar Aiport Roa, Sut 30 [Coren ca. [aeons “EAST SE PORTED eam ——— a CRIN ico mci [Joven swat [ones warm cies te rng (foam onsateetreoeina EEO {UGE PNANCING STATEMENT ADDENDUM (erm USCA fe. 042011),UCC-) FINANCING STATEMENT Page ! of 8 Debtor Name: ‘The San Francisco Ax Institue Secured Parry Nar: Boston Private Sark & Trust Company, 2 Massachusetts chanered trust ‘company, as Lender under the Master Loan Agreement dated as of December |, 2017 (Master Loan Agreement”) ‘Cornirmation of hem & Description of Collateral SCHEDULE 1 Description of Collateral ‘This Financing Statement covers all of the Collateral, as defined below, now owned or hereafter acquired by Borrower. 1. As used in this description of Collateral, capitalized terms not defined herein have the meaning set forth in the Master Loan Agreement. In addition, #5 used herein: (2) “Borrower” means The San Francisco Art Institute, the debtor named in this Financing Statement. () “Property” means collectively, (a) all of the area leased by Borrower for its ‘campus located in the Pier 2 building a the Fort Mason Center in Sen Francisco, California, ‘and (b) the real property commonly known as 800 Chestnut Street, San Francisco, California 94133, which is further described in Exhibit A attached hereto (© “Secarity Agreement” means that certain Master Loan Agreement. (© “Uniform Commercial Code” means the Uniform Commercial Code as in effect from time to time in the State of California, 2.“Coltateral” means collectively, al) of Borrower's right, ttle and interest in the following property, whether now owned by Borrower or hereafter acquired and whether now existing or hereafter coming into existence: (2) all accounts (2s defined in the Uniform Commercial Code) arising out of or in connection with the operation of Borrower's business and operation of the Property, including without limitation all accounts receivable, inventory accounts, contract rights, hatte) paper, notes, acceptances, insurance policies o° other rights to payment and all forms of obligations arising at ary sire to Borrower thereunder, and all ens, security interests, guaranties, remedies, privileges and other rights pertaining thereto including, but pot limited fo, all moneys due and to become due to Borrower in respect of any lozns or advances or for Inventory ot Equipment or other goods sold or leased or for services rendered, all moneys 7000L08P999UCC-1 FINANCING STATEMENT Page2 of 8 Debtor Name: ‘The Son Francisco Att Instinute Secured Party Name: Boston Private Bank & Trust Company, a Massachusetts chartered trust ‘company, as Lerver under the Miser Loan Agreement dated as of ‘December |, 2017 (*Masier Loan Agreement”) Continuation of hem 4 Description of Callatera) due and to become due 10 Borrower under any guarantee (including a leuter of eredit) of the purchase price of Inventory or Equipment sold by Borrower, and all tex refunds, all sums of money, and all instruments, documents and securities held in any accounts in connection therewith; and all of the records and books of Borrower in connection with the operation of Borrower's business and operation of che Property (herein collectively called “Accounts”); (©) all instruments, cherte! paper or letters of credit (each as defined in the Uniform Commercial Code) of Borrower evidencing, representing, arising from or existing in respect of, relating to, securing or otherwise supporting the payment of, any of the Accounts, including (but not limited 10) promissory notes, drafts, bills of exchange and trade acceptances and notes or other obligations of indebtedness owing to Borrower from whatever source arising (herein collectively called "Instrumments") al} inventory (as defined in the Uniform Commercial Code) of Borrower which arises out of or is used in connection with, directly or indirectly, the ownership ‘and operation of Borrower's business and ownership and operation of the Property, all goods obtained by Borrower in exchange for such inventory, and any products made or processed from such inventory, including all substances, if any, commingled therewith or added thereto (herein collectively called inventory"). The team "Inventory" shall include, without limitation, all goods, merchandise, raw materials, work in process and other personal property, ‘wherever located, now or hereafier owned or held by Borrower for the providing of services or tale, use Or consumption in the operation of Borrower's business ané operation of the Property, including, without limitation, provisions in storecooms, refigeraior, kitchens, pantries, fuel supplies and similar items and all substances commingled therewith ot added thereto, and shall ‘also include all rights and clalms of Borrower against anyone who may store of acquire the Inventory forthe account of Borrower, or from whom Borrower may purchase the Invemtarys 6) all equipment (as defined in the Uniform Commercial Code) in whieh Borrower has cor shall acquire an intrest, now of hereafier located on, atached to or contained in or used or Usable in comection withthe operation of Borrower's business and operation of the Property, including ll items of the types listed on Exhibit B hereto and used inthe operation of Borrower's business and operation ofthe Property, and all proceeds thereof and as well 2 all additions t, substitutions for, replacements of or accessions to any of the items of the types on Exhibit B tached hereto and all tachment, Components, parts (including spare parts) end accessories, ‘whether installed thereon or affixed thereto, and wherever located, now or hereafier owned by Borrower and used or intended 10 be used in connection with the operation of Borrowers business and opsrtion of te Property or intended for the use or convenience of guest, tenants, ciber eccupants and pairons thereof, all regardless of whether the same are located on the promises of the Property or are located elsewhere (including, without limitation, in warehouses 20e0L8ar999,UCC) FINANCING STATEMENT Page 3 of & Debtor Name: “The San Francisco Art Institue ‘Secured Party Name: ‘Bosion Private Bank & Trust Company, 2 Massachusetts chartered inst ‘company, as Lender under the Master Loan Agreement dated as of ‘December 1, 2017 (*Master Loan Agreement”) CConmirmation of tem 4: Description of Coliateral fr other storage facilities or in the possession of or on the premises of bailee, vendor or manufecturer) for purposes of manufacture, storage, fabrication or transportation, and all extensions, additions, improvements, betterments, renewals, substitutions and replacements 10, and proceeds of, any of the foregoing (herein collectively called “Equipment”); (4) all Materiel Contracts, es any such contracis or agreements have been or may be amended or supplememed from time 10 time; including, without limitation, (i) all rights of Borrower to receive monies due and to become due under or pursuant to the Material Contracts, (i) all claims of Borrower for damages arising out of or for breach of or defoult ‘under the Material Contracts and (iii) all rights of Borrower to terminste, amend, supplement, modify or waive performance under the Material Contrects, to compel performance of otherwise 0 exercise all remedies thereunder; (©)__ all documents of tite (@s defined in the Uniform Commercial Code) or other receipts of Bortower covering, evidencing or representing Inventory or Equipment (herein collectively celled “Documents” ()_thebalance from time to time in the Borrower's Account(s) held by the Lender; (©) all licenses, permits, consents, certificates, approvals and authorizations, now or hereafter issued or in any way fumished, whether necessary or not, for the operation of Borrower's business and operation and use ofthe Property, in each case to the exten! assignable, including, without limitation, building permits, certificates of operation, warranties and guaranties; () to the extent assignable, all plans, specifications, drawings, renderings and schematics, however characterized, from time to time prepared for use in connection with the operation of Borrower's business and operation ofthe Property, all general imangibles (as defined in the Uniform Commercial Cade), including, without limitation, () all unearned premiums accrued or 10 accrue under all insurance policies for the operation of Borrowers business and operation of the Property, all proeeds ofthe conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, without limitation, proceeds of insurance, condemnation awards, and all rights to refund of real estate taxes and assessments (including interest thereon}, (i) all royalties and license fees, (iii) all trademark licenses, trademarks, rights in intelloctual propery, good will, trademarks, service marks, trade Seerets, copyrights, permits and licenses, together with the registrations therefor and the goodwill appurtenant thereto, (iv) all rights or claims in respect of taxes paid, (v) all 200L080993UCC:1 FINANCING STATEMENT Page 4 of 8 Debtor Name: ‘The San Francisco Art Insti Secured Party Narn: Boston Private Bank & Trust Company, « Massachusets chartered trust ‘compat, 28 Lender under the Master Loan Agrcement dated as of December 1, 2017 (“Master Loan Agreement” ‘Contimation of em 4: Description of Collateral rights in respect of any pension plan or similar arrangement maintained for employees of Borrower, and (vi) any and all causes of action of Borrower which now or hereafter relate to, are derived from or are used in connection with the operation of Borrower's business and the ise, operation, maintenance, occupancy or enjoyment of the Property (herein collectively called “General Intangibles"); al goods (as defined in the Uniform Commercial Code) and all existing and future goods and tangible personal property located on the Property or wherever located and used or usable in connection with the operstion of Borrower's business and in connection with the use, operation or occupancy of the Property or in construction of the tenant improvements, incivding, but not limited to, all artwork owned by Borrower whether or not located on ot affixed to the Property, including without limitation, those murals and frescoes on the improvements on the Property sel forth in Exhibit C attached hereto and incorporated herein by this reference; and (k) all proceeds (as defined in the Uniform Commercial Code) and products of the foregoing, including, without limitation, () cash, Instruments and other property received, receivable or otherwise distributed in respeet of or in exchange for any or all of the Collateral, (ii) all proceeds of, and all other profits, rentals or receipts, in whatever form, arising from the collection, sele, lease, exchange, assigninent, licensing or other disposition of, or realization upon, any item or portion of the Collateral, including, without limitation, all'claims of Borrower against third parties for loss of, damage to, destruction ‘of, or for proceeds payable under, or unearned premiums with respect to, policies of ingurance in respect of any Collateral now existing or hereafter arising, (ii) any and sll proceeds of any insurance, indemnity, warranty or guaranty payable to Borrower from fime to time with respect to any of the Collateral, and (iv) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral 2DB0LD8P999UCC-I FINANCING STATEMENT Page S of & Debtor Name: ‘Tre San Francisco Art instinne ‘Secured Pany Name: Boston Private Bank & Trust Corapany, 2 Massachusets chartered rust company, a Lender under the Master Loan Agrees dated a8 of December 1, 2017 (Master Loan Agreement”) (Continuation of tem 4 Description of Collateral EXHIBIT A REAL PROPERTY For APN/Pareel [D(5): Lot 001, Block 0049 THE LAND REFERRED TO HEREIN BELOW 1S SITUATED IN THE CITY OF SAN FRANCISCO, COUNTY OF SAN FRANCISCO COUNTY, STATE OF CALIFORNIA AND 1S DESCRIBED AS FOLLOWS: BEGINNING at the point formed by the intersection of the Northerly fine of Chestnut Street with the Westerly line of Jones Street; running thence Northerly, along said Westerly line of Jones ‘Street 275 feet tothe Southerly line of Francisco Street; thence at aright angle Westerly, along said Southerly line of Francisco Street, 275 feet; thence at a right angie Southerly 275 feet to the Northerly line of Chesimut Street; thence at # right angle Easterly, along said Northerly line of ‘Chestnut Street, 275 fee! to the point of beginning. BEING a portion of $0 Vara Block No. 234 z000L0er999UCC-1 FINANCING STATEMENT Page 6 of & Debtor Name: ‘The San Pranciseo Art Institue ‘Secured Party Name: Boston Private Bank & Trust Company, 2 Massachusetis chartered tnst ‘company, aS Lender under the Master Loan Agreement dated as of December 1, 2017 ("Master Loan Agreement”) Continuation of ters ¢ Description of Colisterad EXHIBIT B EQUIPMENT All building materials, construction materials, personal property constituting furniture, fittings, appliances, apparatus, leasehold improvements, artworks, murals, ar instellations, machinery, devices, interior improvements, appurtenances, equipment, plants, furnishings, fixtures, computers, electronic data processing equipment, telecommunications equipment and other fixed assets now owned or hereafter acquired by Borrower. 2000208999UCC-1 FINANCING STATEMENT Page 7 of 8 Debtor Name: ‘The Sen Francisoo Art Isiure Secured Party Name: ‘Boston Private Bank & Trust Company,» Massachusetis chartered trust ‘company, as Lender under the Master Laan Agreement dated as of| December 1, 2017 ("Maser Lown Agreement”) ‘Conminuation of hem 4: Description of Collateral EXHIBIT C LIST OF MURALS AND FRESCOES AT 800 CHESTNUT STREET, SAN FRANCISCO, CALIFORNIA 94133 1. Wall Mural, Making of a Fresco Showing the Building of « City, Diego Rivera, 1931 Located in the 1926 building's Galley. 2. Bas Relief Carved in Spanish Cedar Overiaid in Gold Leaf, The Soil Jacques Schnier, 1935. Located in the Anne Bremer Memorial Library. 3, Pencil sketch on paper, Drawing for the Soil, Jacques Scher, 1935, Located in the ‘Anne Breroer Memorial Library 4, Lanette Fresco, Art and Freedom: The Man Chained, Victor Amautofl 1935, Located in the Anne Bremer Memorial Library. 5. Luneite Fresco, Art and Freedom: The Creative Act, Victor Arnautoft, 1935, Located the Anne Bremer Memorial Library 6. Lunetie Fresco, Art and Freedom: Man Freed, Victor Amautoff, 1935. Located in the ‘Anne Bremer Memorial Library Lunette Fresco, Allegorical Figure (with palette and vaiture). William Hesthal, 1935. LLocoted in the Anne Bremer Memorial Library. 8. Lanetie Fresco, Allegorical Figure (with easel and snake), Wiliam Hestha, 1935 Located in the Anne Bremer Memorial Library. 9. Lunene Fresco, Primitive Man, Ray Boynton, 1935, Located in the Anne Bremer ‘Memorial Library. 10. Lunetie Fresco, Western Art, Ray Boynton, 1935. Located in the Anne Bremer Memorial Library. 11, Lanette Fresco, Arts of Man, Gordon Langdon, 1935. Located in the Anne Bremer ‘Memorial Library 12, Lamette Fresco, Arts of Man, Frederick Law Olistead, J, 1935, Located inthe Anne Bremer Memorial Library, 13. Lunette Fresco, Architecture, Ralph Stackpole, 1935. Located it the Anne Bremer Memorial Library. 14, Lamete Fresco, Sculpture, Ralph Steckpole, 1935. Located in the Anne Bremer ‘Memoria! Library. 15. Wall Painting Mural, Dedication Plague for the California School of Fine Arts, San Frareisco Ari Association, honoring the trustees, Rey Boynton, 1926, San Fransisco Art Insitute Courtyard 16, Lunene Fresco, Life Studio Class, showing painting faculty, Spencer Macky and his students, c, 1936, Arthur Brown Building East Wing. 20002087999UCC-1 FINANCING STATEMENT Page 8 of & Debtor Name: ‘The San Francisco Am Insite Secured Pary Name. Boston Private Bank & Trust Company, a Massachusets chartered trust company, as Lender under the Master Loan Agreement dated as of December 1, 2017 (Mister Laan Agreement”) Contimation of tem 4: Description of Collateral 17. Lunette Fresco, Plein-Aire Studio Class, showing painting faculty, Gottardo Piazzoni a Beker Beach with his stidents and the Golden Gate Bridge construction inthe background, ¢. 1936. Arthar Browa Building East Wing. 18, 2 Red Wali Printings, Gothic Arches, etributed to Paul Kos, c. 1985. Located on the ‘outside south wall ofthe Lecture Hall. 19. 2Red Wall Paintings, Gothic Arches, atributed to Paul Kos, c. 1985. Located on the ‘outside east wal ofthe Atholl McBean Galley. 20082087999