Tung

BACKGROUND

In 2001, appellant commenced a development project at commercial property he owned on 12th Street in Oakland, California. (Tung v. California Mortgage & Realty, Inc. (Mar. 30, 2015, A140659) [nonpub. opn.] p. 1 (Tung I).)1 In the fall of 2005, appellant needed additional funding to complete the project. (Id. at pp. 1–2.) He transferred the property to a limited liability corporation that obtained a $5.75 million

1 We grant respondent’s unopposed December 3, 2015 request for judicial notice of the Tung I decision. (Cal. Rules of Court, Rule 8.54(c).) We deny respondent’s request for judicial notice of the remittitur issued in Tung I and the certificate of interested persons filed in that appeal, because reference to those materials is unnecessary to resolution of the current appeal.

1 construction loan from CMR Mortgage Fund, LLC. (Id. at p. 2.) California Mortgage and Realty, Inc. (California Mortgage), was the lender’s broker for the 2005 loan. (Ibid.) Among other things, appellant secured the 2005 loan with a deed of trust to his residential property on Masonic Avenue in Albany, California. (Id. at p. 3.) Appellant’s limited liability corporation defaulted on the…