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GLYNN & FINLEY, LLP
CLEMENT L. GLYNN, Bar No. 57117
MORGAN K. LOPEZ, Bar No. 215513
One Walnut Creek Center
100 Pringle Avenue, Suite 500 ELECTRONICALLY
Walnut Creek, CA 94596 FILED
Telephone: (925) 210-2800 Superior Court of California,
Facsimile: (925) 945-1975 eu OF er anetece
05/08/2018
Attorneys for Cross-Defendant/Plaintiff or at econ
Shirley Hwang : tidied etek
SUPERIOR COURT OF THE STATE OF CALIFORNIA
IN AND FOR THE CITY AND COUNTY OF SAN FRANCISCO
Lead Case No. CGC-10-503332
COMMONWEALTH LAND TITLE (Consolidated for all purposes with
INSURANCE COMPANY, CGC-11-512102)
Plaintiff,
PLAINTIFF SHIRLEY S. HWANG’S
vs. RESPONSE TO DEFENDANT JAY
SHAH’S PROPOSED REVISIONS TO
FEDEX OFFICE AND PRINT SERVICES
INC.; WINSTON LUM; KAUSHAL
NIROULA; JAY CHANDRAKANT
SHAH; ELVIA PALOMINO; MORAD
AFRAIMI; MELVIN LEE EMERICH;
MARTINI CHNOOGLE; GRACHELLE
LANGUBAN; MERCHANTS BONDING
COMPANY, and DOES 1-24,
TENTATIVE STATEMENT OF
DECISION
Original Trial Date: August 7, 2017
Defendants.
SHIRLEY S. HWANG,
CASE NO. CGC-11-512102
Plaintiff,
VS.
FEDEX OFFICE AND PRINT SERVICES
INC., WINSTON LUM, KAUSHAL
NIROULA, JAY CHANDRAKANT SHAH,
MELVIN LEE EMERICH, GRACHELLE
LANGUBAN, and MARTINI &
CHNOOGLE, and DOES 1-50,
Cross-Defendants.
Ne eee
PLTFF S, HWANG’S RESPONSE TO DEF. J SHAH’S PROP. REVISIONS RE TENT. STMT. OF DECISIONI Dw fF w
Defendant Jay Shah’s “Proposed Revisions to Tentative Statement of Decision” re-
submits arguments Mr. Shah has made, and the Court has rejected, previously. The arguments
are no more worthy now than when previously rejected.
1, The Court has already made clear that Plaintiff Shirley Hwang is not collaterally
estopped by determinations made by Judge Kiesselbach during the criminal restitution
proceeding. The issue is whether the evidence submitted in ¢his trial, where Ms. Hwang was
represented by her own counsel, was persuasive regarding the value of her real property when the
criminal fraud occurred. The Court found that it was. Indeed, the Court specifically found that
Mr. Tish’s testimony was “unrefuted by the defense” and “relied on widely accepted appraising
principles.” Mr. Shah had the opportunity to introduce expert testimony regarding the value of
the real property but elected not to do so. The issue was tried and the Court’s tentative decision
is consistent with the evidence.
2. Mr. Shah once again repeats his claim that he lacks assets, despite the evidence
showing that he and his family readily and frequently transfer assets back and forth for financial
advantage. (See, e.g., Exh. 50 at JAYSHAH00002-05, JAYSHAH00006-00010; see also Exh.
58 (enjoining Shah and his parents from further transferring assets and finding that they had done
so previously “other than in a bona fide purchase”). Mr. Shah again complains that his
incarceration prevented him from complying with the Court’s order to produce financial records.
But as publicly-available documents introduced by Ms. Hwang shown, Mr. Shah has transferred
real property assets while incarcerated, and has had documents notarized as recently as
September 2016. (See e.g., Exhs. 66 at 9, 67 at 16.) As demonstrated, Mr. Shah’s failure to
produce records resulted from his desire to conceal assets, not from any inability to do so.
Indeed, Mr. Shah’s pattern of comingling finances with his parents and attempting to hide assets
from creditors continues unabated. Attached as Exhibit A is a deed purporting to transfer Mr.
Shah’s interest in real property located in San Jose to Investment Property Management LLC,
recorded on January 17, 2018, which includes a certificate stating that Mr. Shah’s signature was
notarized on January 10, 2018. Attached as Exhibit B is a Deed of Trust and Assignment of
I
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PLTFF S. HWANG’S RESPONSE TO DEF. J SHAH’S PROP. REVISIONS RE TENT. STMT. OF DECISIONRents recorded on August 11, 2017 against the same San Jose property, in which Mr. Shah’s trust
is identified as the Trustor and his parents’ trust is identified as the Beneficiary.
3. Mr. Shah now appears to concede that the issue of offset is to be considered after
judgment is entered. Plaintiff will be prepared to demonstrate at that time that Mr. Shah is not
entitled to have the damages awarded against him offset. For example, settling defendant FedEx
Office and Print Services Inc. was (i) severally liable for non-economic damages, and (ii)
severally liable for punitive damages. (See, Plaintiff's Dec. 12, 2017 Brief Objecting to
Defendant Jay Shah’s Violation of the Court’s Confidentiality Order at 1:20-2:13),
Dated: May 8, 2018 GLYNN & FINLEY, LLP
CLEMENT L. GLYNN
MORGAN K. LOPEZ
One Walnut Creek Center
100 Pringle Avenue, Suite 500
Walnut Creek, CA 94596
-2-
PLTFF S. HWANG’S RESPONSE TO DEF. J SHAH’S PROP. REVISIONS RE TENT. STMT. OF DECISIONEXHIBIT Awma
23849722
Regina Alcomendras
Santa Clara County - Clerk-Recorder
- Q1/17/2018 10:02 AM
RECORDING REQUESTED BY Titles: 1 Pages: 3
AND WHEN RECORDED MAIL TO: Fees: $142.00
INVESTMENT PROPERTY MANAGEMENT LL'~ 1333: 30,36,
815 Alvarado Ave :
Sunnyvale, CA 94085 BB Parsi PLES eb
GRANT DEED
659 S 15" Street, San Jose California Documentary Transfer Tax is $0.00.
APN: 472-30-061-00
i
The Grantor, JAY C. SHAH, hereby declares:
1. THE GRANTOR, JAY C. SHAH, hereby grants to INVESTMENT PROPERTY
MANAGEMENT LLC his one-half (1/2) interest in that certain real property in the City
of San Jose, County of Santa Clara, State of California, commonly known as 659 S 15"
Street, and more particularly described as follows:
LOT 13, AS DESIGNATED AND DELINEATED ON THAT CERTAIN MAP
OF NAGLEE PARK EXTENSION WHTICH MAP IS OF RECORD IN THE
OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF SANTA
CLARA, STATE OF CALIFORNIA, ON BOOK “U” OF MAPS , PAGE 6.
Dated: January 10, 2018
A
MAIL TAX STATEMENT TO: INVESTMENT PROPERTY MANAGEMENT LLC, 815
Alvarado Ave, Sunnyvale, CA 94085The Grantor, JAY C. SHAH, hereby declares:
1. This transfer is to a limited liability company in which grantor and grantee are
comprised of the same parties who continue to hold the same proportionate interest in the
property, and is therefore exempt from Documentary Transfer Tax. (Revenue and Taxation Code
section 11925(d)). :
2. THE GRANTOR, JAY C. SHAH, hereby grants to INVESTMENT PROPERTY
MANAGEMENT LLC his one-half (1/2) interest in that certain real property in the City of San
Jose, County of Santa Clara, State of California, commonly known as 659 § 15th Street, and
more particularly described as follows:
LOT 13, AS DESIGNATED AND DELINEATED ON THAT CERTAIN MAP
OF NAGLEE PARK EXTENSION WHICH MAP IS OF RECORD IN THE
OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF SANTA
CLARA, STATE OF CALIFORNIA, ON BOOK "U" OF MAPS, PAGE 6.
Dated: January /O , 2018
I certify under PENALTY OF PERJURY under t
Op
foregoing paragraph is true and correct. V
he State of California that the
"DOC #23849722 Page 2 of 3Bw?
DOC #23849722 Page 3 of 3
A notary public or other officer completing this certificate verifies only the identity of the
individual who signed the document to which this certificate is attached, and not the
truthfulness, accuracy, or validity of that document.
STATE OF CALIFORNIA )
< \_)ss.
COUNTY OF Siw TRimtace)
CO : eu
On January (0, 2018 before me, SEF Cr” (>. [ITM , a Notary Public,
personally appeared JAY C. SHAH, who proved to me on the basis of satisfactory evidence to be
the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me
that he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument, the person(s), or the entity upon behalf of which the
person(s) acted, executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that
the foregoing paragraph is true and correct.
fox
WITNESS my hand and official seal,
Sim JEFFREY B. LEITH
aX\ COMM. #2052994 n
Notary Public-Califomla 3
SAN FRANCISCO COUNTY
My Comm. Exp. JAN, 13, 2018
MAIL TAX STATEMENTS TO: Jay C. Shah c/o Calfornia Medical Facility, AP 3101 G123, 1600
California Drive Vacaville, California 95687EXHIBIT BRECORDING REQUESTED BY:
| peu
CHANDRAKANT SHAH ! 23725033
ORDER NO.: | Regina Alcomendras
APN: 472-30-061-00 | Santa Clara County ~ Clerk-Recorder
@8/11/2017 11:05 AM
WHEN RECORDED MAIL TO | Titles: 2 Pages: 4
Chandrakant K Shah Gees: , $64,8?
Mrudula C Shah Total: $64.00
26725 SHADY OAKS COURT PRP te \ " ,
26725 SHADY ONS ¢ BU HAC ARPA A Ai
SPACE ABOVE THIS LINE IS FOR RECORDER'S USE
Deed of Trust and Assignment of Rents
This Deed of Trust, made this 3rd day of Dec 2013, between Jay C Shah, a merried man, herein called TRUSTOR,
whose address is 659 s 15th Street San Jose Ca 95112, Orance Coast Title, a California corporation, herein called
TRUSTEE, and The Shah 1978 Revocable Trust, herein called BNEFICIARY,
Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF
SALE, that property in Santa Clara County, California, described as:
Lot 13, AS DESIGNATED AND DELINEATED ON THAT CERTAIN MAP OF NAGLEE PARK EXTENSION WHICH WAS IS ON
RECORD IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, ON
BOOK "U" OF MAPS, PAGE 6.
Together With the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority hereinafter
given to and conferred upon Beneficiary to collect and apply such rents, issues and profits.
For the Purpose of Securing:
1. Performance of each agreement of Trustor herein contained. 2. Payment of the indebtedness evidenced by one
Promissory note of even date herewith, and any extension or renewal thereof, in the principal sum of $300,000.00
executed by Trustor in favor of Beneficiary or order. 3, Payment of such further sums as the then record owner of said property
hereafter may borrower from Beneficiary, when evidenced by another note (or notes) reciting it is so secured.
To Protect the Security of This Deed of Trust, Trustor Agrees:
(1) To keep said property in good condition and repair; not ta remove or demolish any building thereon; to complete
or restore promptly and in good and workmanlike manner any building which may be constructed, damaged or
destroyed thereon and to pay when due all claims for labor performed and materials furnished therefore; to comply
with all laws affecting said property or requiring any alterations or improvements to be made thereon, not to commit or
permit waste thereof; not to commit, suffer or permit any act upon said property in violation of law; to cultivate,
irrigate, fertilize, fumigate, prune and do all other acts which from the character or use of said property may be
reasonably necessary, the specific enumerations herein not excluding the general.
(2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary.
The amount collected under any fire or other insurance policy may be applied by Beneficiary upon any indebtedness
Deed of Trust and Assignment of Rents Page 1 of 4DOC #23725033 Page 2 of 4
secured hereby and in such order as Beneficiary may determine, or at option of Beneficiary the entire amount so
collected or any part thereof may be released to Trustor. Such application or release shall not cure or waive any
default or notice of default hereunder or invalidate any act done pursuant to such notice.
(3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers
of Beneficiary or Trustee; and to pay all costs and expenses, including cost of evidence of title and attorney's fees in
a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit
brought by Beneficiary to foreclose this Deed.
(4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including
assessments on appurtenant water stock; when due, all encumbrances, charges and liens, with interest, on said
property or any part thereof, which appear to be prior or superior hereto; all costs, fees and expenses of this Trust.
Should Trustor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but
without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any
obligation hereof, may: make or do the same in such manner and to such extent as either may deem necessary to
protect the security hereof, Beneficiary or Trustee being authorized to enter upon said property for such purposes;
appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of
Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or lien which in the
judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay necessary
expenses, employ counsel and pay his reasonable fees.
(5) To pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest from date
of expenditure at the amount allowed by law in effect at the date hereof, and to pay for any statement provided for
by law in effect at the date hereof regarding the obligation secured hereby any amount demanded by the Beneficiary
not to exceed the maximum allowed by law at the time when said statement is demanded.
(6) That any award of damages in connection with any condemnation for public use of or injury to said property or
any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received
by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or other
insurance.
(7) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right
either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay.
(8) That at any time or from time to time, without liability therefor and without notice, upon written request of -
Beneficiary and presentation of this Deed and said note for endorsement, and without affecting the personal liability
of any person for payment of the Indebtedness secured hereby, Trustee may: reconvey any part of said property;
consent to the making of any map or plat thereof; join in granting any easement thereon; or join in any extension
agreement or any agreement subordinating the lien of charge thereof.
(9) That upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon
surrender of this Deed and sald note to Trustee for cancellation and retention and upon payment of its fees, Trustee
shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters
or facts shall be conclusive proof of the truthfulness thereof. The grantee in such reconveyance may be described as
“the person or persons legally entitled thereto”. Five years after issuance of such full reconveyance, Trustee may
destroy said note and this Deed (unless directed in such request to retain them).
(10) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and authority,
during the continuance of these Trusts, to collect the rents, issues and profits of sald property, reserving unto Trustor
the right, prior to any default by Trustor in payment of any indebtedness secured hereby or in performance of any
agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any
such default, Beneficiary may at any time without notice, either in person, by agent, or by a receiver to be appointed
by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and
take possession of said property or any part thereof, in his own name sue for or otherwise collect such rents, issues
and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and
collection, including reasonable attorney’s fees, upon any indebtedness secured hereby, and in such order as
Beneficiary may determine. The entering upon and taking possession of said property, the collection of such rents,
Deed of Trust and Assignment of Rents Page 2 of 4ee DOC #23725033 Page 3 of 4
? issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default
hereunder or invalidate any act done pursuant to such notice.
(11) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any
agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to
Trustee of written declaration of default and demand for sale and of written notice of default and of election to cause
to be sold said property, which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with
Trustee this Deed, said note and all documents evidencing expenditures secured hereby.
After the lapse of such time as may then be required by law following the recordation of said notice of default, and
notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell said
property at the time and place fixed by it in said notice of sale, either as a whole or in separate parcels, and in such
order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States,
payable at time of sale, Trustee may postpone sale of all or any portion of said property by public announcement at
such time and place of sale, and from time to time thereafter may postpone such sale by public announcement at the
time fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed conveying the property so
sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall
be conclusive proof of the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary as hereinafter
defined, may purchase at such sale.
After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title in
connection with sale, Trustee shall apply the proceeds of sale to payment of: all sums expended under the terms
hereof, not then repaid, with accrued interest at the amount allowed by law in effect at the date hereof; all other
sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto.
(12) Beneficiary, or any successor in ownership of any indebtedness secured hereby, may from time to time, by
instrument in writing, substitute a successor or successors to any Trustee named herein or acting hereunder, which
instrument, executed by the Beneficiary and duly acknowledged and recorded in the office of the recorder of the
county or counties where said property is situated, shall be conclusive proof of proper substitution of such successor
Trustee or Trustees, who shall, without conveyance from the Trustee predecessor, succeed to all its title, estate, rights,
powers and duties. Said Instrument must contain the name of the original Trustor, Trustee and Beneficiary hereunder,
the book and page where this Deed is recarded and the name and address of the new Trustee.
(13) That this Deed applies to, inures to the benefit of, and binds all parties hereto, ther heirs, legatees, devisees,
administrators, executors, successors and assigns. The term Beneficiary shall mean the owner and holder, including
pledges, of the note secured hereby, whether or not named as Beneficiary herein. In this Deed, whenever the context
so requires, the masculine gender includes the feminine and/or neuter, and the singular number includes the plural.
(14) That Trustee accepts this Trust when this Deed, duly executed and acknowledged, is made a public record as
provided by Jaw. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of
any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party unless brought by Trustee.
The undersigned Trustor requests that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed
to him at his addyesp hereinbefore set forth.
Deed of Trust and Assignment of Rents . . Page 3 of 47 : DOC #23725033 Page 4 of 4
State of alrtar VA
County of SAY) Foamcisdl
On ANNA before me, Cre) G. 6 | (any {\ a Notary Public,
personally appearet who
proved to me on the basis of satisfactory evidence to be the person) whose named) is/axg subscribed to the
within instrument and acknowledged to me that he/shevthey executed the same in his/he#taelr authorized
capacity(ieg), and that by his/her#heis signaturete} on the instrument the person(s}, or the entity upon behalf of
which the person(@ acted, executed the instrument.
| certify under PENALTY OF PERJURY under the laws of the State raph is
true and correct.
CONNOR
Commission # 1878539
7 s Notary Public - California 3
WITNESS my hand afid an seal. 5 San Francisco County 5
Spake ty (IITA, : J My Comm Frpires Jan 30 20168
4 i
Name: ne set Uno
(typed or printed) (Area reserved for official notarial seal)
Deed of Trust and Assignment of Rents Page 4 of 4Lead Case No. CGC-10-503332
(consolidated for all purposes with CGC-11-512102)
PROOF OF SERVICE BY MAIL
I, Gina M. Bentley, the undersigned, hereby certify and declare under penalty of
perjury that the following statements are true and correct:
1. Iam over the age of 18 years and am not a party to the within cause.
2. My business address is One Walnut Creek Center, 100 Pringle Avenue,
Suite 500, Walnut Creek, CA 94596.
3, 1am familiar with my employer’s mail collection and processing practices;
know that said mail is collected and deposited with the United States Postal Service on the same
day it is deposited in interoffice mail; and know that postage thereon is fully prepaid.
4, Following said practice, on May 8, 2018 I served a true and correct copy of
the attached document entitled exactly:
PLAINTIFF SHIRLEY S. HWANG’S RESPONSE TO DEFENDANT JAY SHAH’S
PROPOSED REVISIONS TO TENTATIVE STATEMENT OF DECISION
by placing it in an addressed, sealed envelope and depositing it in regularly maintained
interoffice mail to the following:
Craig Jay Bassett Yauheni V. Halavanau
Attorney at Law Law Offices of Gene Halavanau
25 W. First Street 55 Francisco Street, Suite 403
Morgan Hill, CA 95037 San Francisco, CA 94133-2115
T: 408-779-0007; F; 408-778-6005 T: 415-692-5301; F: 415-692-8412
Email: cbassett@garlic.com Email: gene@halavanau.com
Attorney for Defendants Elvia Palomino and Association of Counsel for Defendant
Jay Chandrakant Shah Jay Chandrakant Shah
Executed this 8th day of May, 2018 alnut Creek, California.
Gina M. Bentley
= J«
PROOF OF SERVICE
Preview
GLYNN & FINLEY, LLP CLEMENT L. GLYNN, Bar No. 57117 MORGAN K. LOPEZ, Bar No. 215513 One Walnut Creek Center 100 Pringle Avenue, Suite 500 ELECTRONICALLY Walnut Creek, CA 94596 FILED Telephone: (925) 210-2800 Superior Court of California, Facsimile: (925) 945-1975 eu OF er anetece 05/08/2018 Attorneys for Cross-Defendant/Plaintiff or at econ Shirley Hwang : tidied etek SUPERIOR COURT OF THE STATE OF CALIFORNIA IN AND FOR THE CITY AND COUNTY OF SAN FRANCISCO Lead Case No. CGC-10-503332 COMMONWEALTH LAND TITLE (Consolidated for all purposes with INSURANCE COMPANY, CGC-11-512102) Plaintiff, PLAINTIFF SHIRLEY S. HWANG’S vs. RESPONSE TO DEFENDANT JAY SHAH’S PROPOSED REVISIONS TO FEDEX OFFICE AND PRINT SERVICES INC.; WINSTON LUM; KAUSHAL NIROULA; JAY CHANDRAKANT SHAH; ELVIA PALOMINO; MORAD AFRAIMI; MELVIN LEE EMERICH; MARTINI CHNOOGLE; GRACHELLE LANGUBAN; MERCHANTS BONDING COMPANY, and DOES 1-24, TENTATIVE STATEMENT OF DECISION Original Trial Date: August 7, 2017 Defendants. SHIRLEY S. HWANG, CASE NO. CGC-11-512102 Plaintiff, VS. FEDEX OFFICE AND PRINT SERVICES INC., WINSTON LUM, KAUSHAL NIROULA, JAY CHANDRAKANT SHAH, MELVIN LEE EMERICH, GRACHELLE LANGUBAN, and MARTINI & CHNOOGLE, and DOES 1-50, Cross-Defendants. Ne eee PLTFF S, HWANG’S RESPONSE TO DEF. J SHAH’S PROP. REVISIONS RE TENT. STMT. OF DECISIONI Dw fF w Defendant Jay Shah’s “Proposed Revisions to Tentative Statement of Decision” re- submits arguments Mr. Shah has made, and the Court has rejected, previously. The arguments are no more worthy now than when previously rejected. 1, The Court has already made clear that Plaintiff Shirley Hwang is not collaterally estopped by determinations made by Judge Kiesselbach during the criminal restitution proceeding. The issue is whether the evidence submitted in ¢his trial, where Ms. Hwang was represented by her own counsel, was persuasive regarding the value of her real property when the criminal fraud occurred. The Court found that it was. Indeed, the Court specifically found that Mr. Tish’s testimony was “unrefuted by the defense” and “relied on widely accepted appraising principles.” Mr. Shah had the opportunity to introduce expert testimony regarding the value of the real property but elected not to do so. The issue was tried and the Court’s tentative decision is consistent with the evidence. 2. Mr. Shah once again repeats his claim that he lacks assets, despite the evidence showing that he and his family readily and frequently transfer assets back and forth for financial advantage. (See, e.g., Exh. 50 at JAYSHAH00002-05, JAYSHAH00006-00010; see also Exh. 58 (enjoining Shah and his parents from further transferring assets and finding that they had done so previously “other than in a bona fide purchase”). Mr. Shah again complains that his incarceration prevented him from complying with the Court’s order to produce financial records. But as publicly-available documents introduced by Ms. Hwang shown, Mr. Shah has transferred real property assets while incarcerated, and has had documents notarized as recently as September 2016. (See e.g., Exhs. 66 at 9, 67 at 16.) As demonstrated, Mr. Shah’s failure to produce records resulted from his desire to conceal assets, not from any inability to do so. Indeed, Mr. Shah’s pattern of comingling finances with his parents and attempting to hide assets from creditors continues unabated. Attached as Exhibit A is a deed purporting to transfer Mr. Shah’s interest in real property located in San Jose to Investment Property Management LLC, recorded on January 17, 2018, which includes a certificate stating that Mr. Shah’s signature was notarized on January 10, 2018. Attached as Exhibit B is a Deed of Trust and Assignment of I ek PLTFF S. HWANG’S RESPONSE TO DEF. J SHAH’S PROP. REVISIONS RE TENT. STMT. OF DECISIONRents recorded on August 11, 2017 against the same San Jose property, in which Mr. Shah’s trust is identified as the Trustor and his parents’ trust is identified as the Beneficiary. 3. Mr. Shah now appears to concede that the issue of offset is to be considered after judgment is entered. Plaintiff will be prepared to demonstrate at that time that Mr. Shah is not entitled to have the damages awarded against him offset. For example, settling defendant FedEx Office and Print Services Inc. was (i) severally liable for non-economic damages, and (ii) severally liable for punitive damages. (See, Plaintiff's Dec. 12, 2017 Brief Objecting to Defendant Jay Shah’s Violation of the Court’s Confidentiality Order at 1:20-2:13), Dated: May 8, 2018 GLYNN & FINLEY, LLP CLEMENT L. GLYNN MORGAN K. LOPEZ One Walnut Creek Center 100 Pringle Avenue, Suite 500 Walnut Creek, CA 94596 -2- PLTFF S. HWANG’S RESPONSE TO DEF. J SHAH’S PROP. REVISIONS RE TENT. STMT. OF DECISIONEXHIBIT Awma 23849722 Regina Alcomendras Santa Clara County - Clerk-Recorder - Q1/17/2018 10:02 AM RECORDING REQUESTED BY Titles: 1 Pages: 3 AND WHEN RECORDED MAIL TO: Fees: $142.00 INVESTMENT PROPERTY MANAGEMENT LL'~ 1333: 30,36, 815 Alvarado Ave : Sunnyvale, CA 94085 BB Parsi PLES eb GRANT DEED 659 S 15" Street, San Jose California Documentary Transfer Tax is $0.00. APN: 472-30-061-00 i The Grantor, JAY C. SHAH, hereby declares: 1. THE GRANTOR, JAY C. SHAH, hereby grants to INVESTMENT PROPERTY MANAGEMENT LLC his one-half (1/2) interest in that certain real property in the City of San Jose, County of Santa Clara, State of California, commonly known as 659 S 15" Street, and more particularly described as follows: LOT 13, AS DESIGNATED AND DELINEATED ON THAT CERTAIN MAP OF NAGLEE PARK EXTENSION WHTICH MAP IS OF RECORD IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, ON BOOK “U” OF MAPS , PAGE 6. Dated: January 10, 2018 A MAIL TAX STATEMENT TO: INVESTMENT PROPERTY MANAGEMENT LLC, 815 Alvarado Ave, Sunnyvale, CA 94085The Grantor, JAY C. SHAH, hereby declares: 1. This transfer is to a limited liability company in which grantor and grantee are comprised of the same parties who continue to hold the same proportionate interest in the property, and is therefore exempt from Documentary Transfer Tax. (Revenue and Taxation Code section 11925(d)). : 2. THE GRANTOR, JAY C. SHAH, hereby grants to INVESTMENT PROPERTY MANAGEMENT LLC his one-half (1/2) interest in that certain real property in the City of San Jose, County of Santa Clara, State of California, commonly known as 659 § 15th Street, and more particularly described as follows: LOT 13, AS DESIGNATED AND DELINEATED ON THAT CERTAIN MAP OF NAGLEE PARK EXTENSION WHICH MAP IS OF RECORD IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, ON BOOK "U" OF MAPS, PAGE 6. Dated: January /O , 2018 I certify under PENALTY OF PERJURY under t Op foregoing paragraph is true and correct. V he State of California that the "DOC #23849722 Page 2 of 3Bw? DOC #23849722 Page 3 of 3 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. STATE OF CALIFORNIA ) < \_)ss. COUNTY OF Siw TRimtace) CO : eu On January (0, 2018 before me, SEF Cr” (>. [ITM , a Notary Public, personally appeared JAY C. SHAH, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument, the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. fox WITNESS my hand and official seal, Sim JEFFREY B. LEITH aX\ COMM. #2052994 n Notary Public-Califomla 3 SAN FRANCISCO COUNTY My Comm. Exp. JAN, 13, 2018 MAIL TAX STATEMENTS TO: Jay C. Shah c/o Calfornia Medical Facility, AP 3101 G123, 1600 California Drive Vacaville, California 95687EXHIBIT BRECORDING REQUESTED BY: | peu CHANDRAKANT SHAH ! 23725033 ORDER NO.: | Regina Alcomendras APN: 472-30-061-00 | Santa Clara County ~ Clerk-Recorder @8/11/2017 11:05 AM WHEN RECORDED MAIL TO | Titles: 2 Pages: 4 Chandrakant K Shah Gees: , $64,8? Mrudula C Shah Total: $64.00 26725 SHADY OAKS COURT PRP te \ " , 26725 SHADY ONS ¢ BU HAC ARPA A Ai SPACE ABOVE THIS LINE IS FOR RECORDER'S USE Deed of Trust and Assignment of Rents This Deed of Trust, made this 3rd day of Dec 2013, between Jay C Shah, a merried man, herein called TRUSTOR, whose address is 659 s 15th Street San Jose Ca 95112, Orance Coast Title, a California corporation, herein called TRUSTEE, and The Shah 1978 Revocable Trust, herein called BNEFICIARY, Witnesseth: That Trustor IRREVOCABLY GRANTS, TRANSFERS AND ASSIGNS to TRUSTEE IN TRUST, WITH POWER OF SALE, that property in Santa Clara County, California, described as: Lot 13, AS DESIGNATED AND DELINEATED ON THAT CERTAIN MAP OF NAGLEE PARK EXTENSION WHICH WAS IS ON RECORD IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA, ON BOOK "U" OF MAPS, PAGE 6. Together With the rents, issues and profits thereof, SUBJECT, HOWEVER, to the right, power and authority hereinafter given to and conferred upon Beneficiary to collect and apply such rents, issues and profits. For the Purpose of Securing: 1. Performance of each agreement of Trustor herein contained. 2. Payment of the indebtedness evidenced by one Promissory note of even date herewith, and any extension or renewal thereof, in the principal sum of $300,000.00 executed by Trustor in favor of Beneficiary or order. 3, Payment of such further sums as the then record owner of said property hereafter may borrower from Beneficiary, when evidenced by another note (or notes) reciting it is so secured. To Protect the Security of This Deed of Trust, Trustor Agrees: (1) To keep said property in good condition and repair; not ta remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building which may be constructed, damaged or destroyed thereon and to pay when due all claims for labor performed and materials furnished therefore; to comply with all laws affecting said property or requiring any alterations or improvements to be made thereon, not to commit or permit waste thereof; not to commit, suffer or permit any act upon said property in violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character or use of said property may be reasonably necessary, the specific enumerations herein not excluding the general. (2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to Beneficiary. The amount collected under any fire or other insurance policy may be applied by Beneficiary upon any indebtedness Deed of Trust and Assignment of Rents Page 1 of 4DOC #23725033 Page 2 of 4 secured hereby and in such order as Beneficiary may determine, or at option of Beneficiary the entire amount so collected or any part thereof may be released to Trustor. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. (3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; and to pay all costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed. (4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including assessments on appurtenant water stock; when due, all encumbrances, charges and liens, with interest, on said property or any part thereof, which appear to be prior or superior hereto; all costs, fees and expenses of this Trust. Should Trustor fail to make any payment or to do any act as herein provided, then Beneficiary or Trustee, but without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may: make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon said property for such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or lien which in the judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay necessary expenses, employ counsel and pay his reasonable fees. (5) To pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest from date of expenditure at the amount allowed by law in effect at the date hereof, and to pay for any statement provided for by law in effect at the date hereof regarding the obligation secured hereby any amount demanded by the Beneficiary not to exceed the maximum allowed by law at the time when said statement is demanded. (6) That any award of damages in connection with any condemnation for public use of or injury to said property or any part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or other insurance. (7) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. (8) That at any time or from time to time, without liability therefor and without notice, upon written request of - Beneficiary and presentation of this Deed and said note for endorsement, and without affecting the personal liability of any person for payment of the Indebtedness secured hereby, Trustee may: reconvey any part of said property; consent to the making of any map or plat thereof; join in granting any easement thereon; or join in any extension agreement or any agreement subordinating the lien of charge thereof. (9) That upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed and sald note to Trustee for cancellation and retention and upon payment of its fees, Trustee shall reconvey, without warranty, the property then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in such reconveyance may be described as “the person or persons legally entitled thereto”. Five years after issuance of such full reconveyance, Trustee may destroy said note and this Deed (unless directed in such request to retain them). (10) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and authority, during the continuance of these Trusts, to collect the rents, issues and profits of sald property, reserving unto Trustor the right, prior to any default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and retain such rents, issues and profits as they become due and payable. Upon any such default, Beneficiary may at any time without notice, either in person, by agent, or by a receiver to be appointed by a court, and without regard to the adequacy of any security for the indebtedness hereby secured, enter upon and take possession of said property or any part thereof, in his own name sue for or otherwise collect such rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney’s fees, upon any indebtedness secured hereby, and in such order as Beneficiary may determine. The entering upon and taking possession of said property, the collection of such rents, Deed of Trust and Assignment of Rents Page 2 of 4ee DOC #23725033 Page 3 of 4 ? issues and profits and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice. (11) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written declaration of default and demand for sale and of written notice of default and of election to cause to be sold said property, which notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee this Deed, said note and all documents evidencing expenditures secured hereby. After the lapse of such time as may then be required by law following the recordation of said notice of default, and notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall sell said property at the time and place fixed by it in said notice of sale, either as a whole or in separate parcels, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States, payable at time of sale, Trustee may postpone sale of all or any portion of said property by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public announcement at the time fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary as hereinafter defined, may purchase at such sale. After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of: all sums expended under the terms hereof, not then repaid, with accrued interest at the amount allowed by law in effect at the date hereof; all other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto. (12) Beneficiary, or any successor in ownership of any indebtedness secured hereby, may from time to time, by instrument in writing, substitute a successor or successors to any Trustee named herein or acting hereunder, which instrument, executed by the Beneficiary and duly acknowledged and recorded in the office of the recorder of the county or counties where said property is situated, shall be conclusive proof of proper substitution of such successor Trustee or Trustees, who shall, without conveyance from the Trustee predecessor, succeed to all its title, estate, rights, powers and duties. Said Instrument must contain the name of the original Trustor, Trustee and Beneficiary hereunder, the book and page where this Deed is recarded and the name and address of the new Trustee. (13) That this Deed applies to, inures to the benefit of, and binds all parties hereto, ther heirs, legatees, devisees, administrators, executors, successors and assigns. The term Beneficiary shall mean the owner and holder, including pledges, of the note secured hereby, whether or not named as Beneficiary herein. In this Deed, whenever the context so requires, the masculine gender includes the feminine and/or neuter, and the singular number includes the plural. (14) That Trustee accepts this Trust when this Deed, duly executed and acknowledged, is made a public record as provided by Jaw. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party unless brought by Trustee. The undersigned Trustor requests that a copy of any Notice of Default and of any Notice of Sale hereunder be mailed to him at his addyesp hereinbefore set forth. Deed of Trust and Assignment of Rents . . Page 3 of 47 : DOC #23725033 Page 4 of 4 State of alrtar VA County of SAY) Foamcisdl On ANNA before me, Cre) G. 6 | (any {\ a Notary Public, personally appearet who proved to me on the basis of satisfactory evidence to be the person) whose named) is/axg subscribed to the within instrument and acknowledged to me that he/shevthey executed the same in his/he#taelr authorized capacity(ieg), and that by his/her#heis signaturete} on the instrument the person(s}, or the entity upon behalf of which the person(@ acted, executed the instrument. | certify under PENALTY OF PERJURY under the laws of the State raph is true and correct. CONNOR Commission # 1878539 7 s Notary Public - California 3 WITNESS my hand afid an seal. 5 San Francisco County 5 Spake ty (IITA, : J My Comm Frpires Jan 30 20168 4 i Name: ne set Uno (typed or printed) (Area reserved for official notarial seal) Deed of Trust and Assignment of Rents Page 4 of 4Lead Case No. CGC-10-503332 (consolidated for all purposes with CGC-11-512102) PROOF OF SERVICE BY MAIL I, Gina M. Bentley, the undersigned, hereby certify and declare under penalty of perjury that the following statements are true and correct: 1. Iam over the age of 18 years and am not a party to the within cause. 2. My business address is One Walnut Creek Center, 100 Pringle Avenue, Suite 500, Walnut Creek, CA 94596. 3, 1am familiar with my employer’s mail collection and processing practices; know that said mail is collected and deposited with the United States Postal Service on the same day it is deposited in interoffice mail; and know that postage thereon is fully prepaid. 4, Following said practice, on May 8, 2018 I served a true and correct copy of the attached document entitled exactly: PLAINTIFF SHIRLEY S. HWANG’S RESPONSE TO DEFENDANT JAY SHAH’S PROPOSED REVISIONS TO TENTATIVE STATEMENT OF DECISION by placing it in an addressed, sealed envelope and depositing it in regularly maintained interoffice mail to the following: Craig Jay Bassett Yauheni V. Halavanau Attorney at Law Law Offices of Gene Halavanau 25 W. First Street 55 Francisco Street, Suite 403 Morgan Hill, CA 95037 San Francisco, CA 94133-2115 T: 408-779-0007; F; 408-778-6005 T: 415-692-5301; F: 415-692-8412 Email: cbassett@garlic.com Email: gene@halavanau.com Attorney for Defendants Elvia Palomino and Association of Counsel for Defendant Jay Chandrakant Shah Jay Chandrakant Shah Executed this 8th day of May, 2018 alnut Creek, California. Gina M. Bentley = J« PROOF OF SERVICE