Rivera

Background Because this appeal arises from the sustaining of a demurrer, we summarize the underlying facts as they are stated in the operative pleading, the second amended complaint. Toward this end "we accept as true the properly pleaded material factual allegations of the complaint, together with facts that may properly be judicially noticed." (Crowley v. Katleman (1994) 8 Cal.4th 666, 672; Moore v. Regents of University of California (1990) 51 Cal.3d 120, 125.) Plaintiff asserted two causes of action, for specific performance and for breach of contract. Both were based on a loan modification agreement (LMA or Agreement) he had executed with Chase Home Finance LLC, which was the current lender on the mortgage applicable to his San Jose home.1 Plaintiff alleged that he fell behind in his mortgage payments on his original 2006 loan, due to the "downturn in the economy and the triggering of higher monthly payments" on his subprime loan. A notice of default was recorded on February 9, 2009. The LMA, executed in December 2009, called for a waiver of all late charges and suspension of any foreclosure activities, and it set forth a new schedule of interest rate adjustments beginning…