Doc 6 2014-8146259 uconmm; neouasm) av Bun/nu Emma. I a! cm: I Inwa- Irv-ram Lurry u. um: Cw zy a neuron- ll was firyJ ADDRESS aligns Law Corporallm 95 East Slreel, Sulle 111 upland, CA 91785 rm. war no-- mm an an WHEN RECORDED MNL To nova 'n-us LIN: FOR nconnm' DEED OF TRUST STAYS or cauroama Nummr ma DEED OF TRUST 1"Secunly ls made an lma um any at Dambal' 2m Tue walor ls: Allis ('Bowwel') Yne lluslee Fldahly Mammal rula Cnmparly The benefich ls angga uw Carper-rm man lualau and organlxafl Ind under ma law: Mme sure ('Lenaer'l Bonuwer was Lender \annawm nme dated me um: data I: Sawnly Ins'mlnent ("News") men pram" cor paymenls' wan Ina lull debl ll nor paid earlier, due and payable Tnla Sewmy seem; la Lendel Ihe repayment pl ma ml amused by Nora, "warm, and all renewals, axlansmna and lhe paymenl at all other sums' mm lnleresl advanced under a prom ma Sammy Seoumy Ind lay me perform-nee 015mm covenants and agwemenls undurlms arm ma Nara Fol ml: purpuu, Borrower Irrevncably gram: and mveyl lo Tmalae. w: ower plsala lna lullawi <> County Rewldav wf .aid Cnumy, Expapl mar ponlnn gamed |o ma calmly Rlverslde by deed maimed Nuvamber 5. as no lama. Apntt iQI-o7l-- 001 TOGETHER WITH all me I pmvamanls now ar ham-all aaumanla annumnanoas, renla lnyahles' mlnaral all and 9.5 "pm: and plum mlar ngma and arm and mums new or reallar a pan or me pmpefly AH and addmom shall also an covered by his Secumy lnmumenl. All pl ma ls relznad In ma Secumy'" Inswmenl aa ma 'FmpeflY' BORROWER COVENANTS lnal somwar la gelled al me anal: wnvayed and has me rigm lp grim and ponvny me Pmpem/ and lnal me Pmpeny lr unencumbered. exupl encumbrance; of mean! Bormev and dalana germ-Hy lne mla lo the Pmpeny agalns| all dams and as an << or any year wen premlbm would have been reeurree A Lender enll nelu Ihe Seeumy lnalmrnenl. eaan mummy paymenl snan also enner a sum [or me annual mengage lnsuranee Drenuum la be pald by Lender Lo lne Secretary, or (ii) a charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the charge by the Secretary, these items are called 'Escrow Items" and the sums paid to Lender are called 'Escrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time except that the cushion or reserve permitted by RESPA for unanticipated disbursements or disbursements before the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium. If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA Lender shall deal with the excess funds as required by RESPA. If the amounts of funds held by Lender at any time are not suf?cient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make the shortage or de?ciency as permitted by RESPA. The Escrow Funds are pledged as additional security for all sums secured by this Security instrument If Borrower renders to Lender the full payment of all such sums, Borrower's account shall be credited with the balance remaining for all installment items and and any mortgage insurance premium installment that Lender has not become obligated to pay to the Secretary, and Lender shall refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property or its acquisition by Lender. Borrower's account shall be credited with any balance remaining for all installments for items and 3. Application of Payments All payments under Paragraphs I and 2 shall be applied by Lender as follows: FIRST, to the mortgage insurance premium to be paid by Lender to the Secretary or to the charge by the Secretary instead of the mertgage insurance premium; SECOND, to any taxes, special assessments, leasehold payments or ground rents, and ?re, ?ood and other hazard insurance premiums, as required; THIRD, to interest due under the Note; FOURTH, to amortization of the principal of the Note; FIFTH, to late charges due under the Note. 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether new in existence or subsequently erected, against any hazards, casualties, and contingencies, including ?re, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequently erected, against loss by ?oods to the extent required by the Secretary. All insurance shall be carried with companies approved by Lender. The insurance policies and any renewals shall he held by Lender and shall include loss payable clauses in favor of, and in a form acceptable to, Lender. In the event of loss. Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not made by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may be applied by Lender, at its option, either to the reduction of the indebtedness under the Note and this Security Instrument, ?rst to any delinquent amounts applied in the order in Paragraph 3, and then to prepayment of principal, or to the restoration or repair of the damaged property. Any application of the proceeds to the principal shall not extend or postpone the due date of the payments which are referred to in Paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of foreclosure of this Security Instrument or other transfer of tide to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser. 5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless the Secretary determines this requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall notify Lenders of any extenuating circumstances Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee tide shall not be merged unless Lender agrees to the merger in writing. 6. Charges to Borrower and Protection of lender?s Rights In the Property. Borrower shall pay all governmental or municipal charges, ?nes and Impositions that are not included in Paragraph Borrower shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender?s interest in the Property, upon Lender's request Borrower shall furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by Paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may signi?cantly affect Lender's rights in the Preperty (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. 7. Condemnation, The proceeds of any award or claim for damages. direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this Security instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, ?rst to any delinquent amounts applied in the order provided in Paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the payments, which are referred to in Paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: Borrower defaults by failing to pay in full any payment required by this Security instrument prior to or on the due date of the next payment, or (ii) Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. Sale Without Credit Approval. Lender shall, if permitted by applicable law and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument if: All or part of the Property, or a bene?cial interest in a trust owning all or part of the Property, is sold or othenivise transferred (other than by devise or descent) by the Borrower, and (ii )The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance with the requirements of the Secretary. No Waiver. If circumstances occur that would Permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. Mortgage Not Insured, Borrower agrees that should this Security Instrument and the note secured thereby not be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option and notwithstanding anything in Paragraph 9, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument and the note secured thereby, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary 10. Reinstatement Borrower has a right to be reinstated if Lender has required immediate payment in ?ll because of Borrower's failure to pay an amount due under the Note 'or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude the foreclosure on different grounds in the future, or reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance by lender Not a Waiver. Extension of the time of payment or modi?cation of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and bene?t the successors and assigns of Lender and Borrower, subject to the provisions of Paragraph 9.b. Borrower's covenants and agreements shall be, joint and several. Any Borrower who signs this Security Instrument but does not execute the Note: is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's, interest in the Property under the terms of this Security Instrument; is not personally obligated to pay the sums secured by this Security Instrument; and agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Notices Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by ?rst class mail unless applicable law requires use of another method. The notice shall be directed to the property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by ?rst class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the :Note con?icts with applicable law, such con?ict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the con?icting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy ofthis Security Instrument. 16. Assignment of Rents Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs'; each tenant of the Property to pay the rents to Lender or Lenders agents. However, prior to Lender's notice to Borrower of Borrowers breach of any covenant or agreement in the Security instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the bene?t of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument; Lender shall be entitled to collect and receive all of the rents of the Property; and (0) each tenant of the Property shall pay all rents due and unpaid to Lender or Lender?s agent on Lender?s written demand to the tenant Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this Paragraph 16. Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in ?ll. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 17, including, but not limited to, reasonable attorneys' fees and costs of title evidence. It lender invokes the power of sale, lender shall execute or cause Trustee to execute a written notice of the occurrence of an event of default and of lender's election to cause die Property to be sold, Trustee shall cause this notice to be recorded in each county in which any part of the Property is located, lender or Trustee shall mail copies of the notice as prescribed by' applicable law to Borrower and to the other persons prescribed by' applicable law. Trustee shall give public notice of sale to the persons and in the manner prescribed by' applicable law. After the time required by' applicable law, Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines Trustee may postpone sale of all or any parcel of the Property by' public announcement at the time and place of any previously scheduled sale. lender or its designee may purchase the Property at any sale. Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty. expressed or implied. The recitals in the Trustee's deed shall be prima lade evidence of the truth of the statements made therein. Trustee shall apply the proceeds, of the sale in the foil owing order: to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees; to all sums secured by' this Security Instrument; and any excess to the person or persons legally entitled to it. 18. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. 19. Substitute Trustee. Lender, at its option, may from time to time appoint a successor trustee to any Trustee appointed hereunder by an instrument executed and acknowledged by Lender and recorded in the folic of the Recorder of the county in which the Property is located. The instrument shall contain the name of the original Lender, Trustee and Borrower, the book and page where this Security Instrument is recorded and the name and address of the successor trustee. Without conveyance of the Property, the successor trustee shall succeed to all the title, powers and duties conferred upon the Trustee herein and by applicable law. This procedure for substitution of trustee shall govern to the exclusion of all other provisions for substitution. 20. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property Address. 21. Statement of Obligation Fee. Lender may collect a fee not to exceed the maximum amount permitted by law for furnishing the statement of obligation as provided by Section 2943 of the Civil Code of California. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument. the convenants of each such rider shail be incorporated into and shall amend and supplement the and agreements of this Security as if the rider(s) were in a part of this Security Instrument. [Check applicable boxes)]. Condominium Rider Graduated PaymentR ider Growing Equity Rider Planned Unit Development Rider Other [Specify] Rider on Insurance and Impounds (page 6) BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in pages 1 through 6 of this Security Instrument and in any rider(s) executed by Borrower and recorded with it. Witness: rte_aga. Borrower Gonzan Arteaga, Borrow 5 Gabrlela (Seal (Seal) Borrower Borrower (Seal) (Seal) Borrower Borrower (Seal) (Seal) Borrower Borrower STATE OF CALIFORNIA COUNTY San Bernardino on before me, a Notary Public in and for said Cou y'and State, personally appeared Gonzalo Arteaga and abrieila Arteaga personally known to me proved to me on the basis of satisfactory evidence) to the person(s) whose name(s) is/are subscribed to th ithin instrument and acknowledged to executed the same in his/her/their ies). and that by his/her/their signature(s) or the entity upon behalf of FOR NOTARY SEAL OR STAMP REQUEST TO TRUSTEE: The undersigned is the holder of the note or notes secured by this Deed of Trust. Said note or notes, together with all other indebtedness secured by this Deed of Trust, have been paid in full. You are hereby directed to cancel said note or notes and this Deed of Trust, which are delivered hereby, and to reconvey. without warranty, all the estate now held by you under this Deed of Trust to the person or persons legally entitled thereto. Dated: DEED OF TRUST RIDER 0N INSURANCE AND IMPOUNDS Page 6 The provisions of Paragraph 2 of the Security Instrument payments of Taxes, Insurance and Other Charges?) notwithstanding, the Borrower?s payment shall not include taxes and special assessments levied or to be levied against the Property or (ii) premiums for insurance required under Paragraph 4 of the Security Instrument. The following provisions are added to Paragraph 4 of the Security Instrument (?Fire, Flood and Other Hazard Insurance?), shall be construed in a manner consistent with the existing provisions to the extent possible, but shall control to the extent of any con?ict: ?Borrower shall secure the insurance required under this Security Agreement from an insurance company licensed to sell insurance in the State of California. Borrower shall make sure that any and all insurers providing the insurance required under this Security Agreement provide Lender with a copy of any and all notices given to Borrower at the same time that such notices are given to Borrower. If at any time Lender believes in good faith that Borrower is not maintaining insurance suf?cient to protect the Property, Lender may obtain such insurance and shall be reimbursed for the costs of doing so not more than ten (10) days after making a written request for reimbursement to Borrower.? Secured Promissory Note Page 1 of 3 Borrowers? Initials?? Acknowledgment STATE OF CALIFORNIA }ss. COUNTY OF RIVERSIDE On SeptemberZS??. 2008. before me; Pamela l. BomssL Notanj Public . Personally appeared Gonzalo Arteaqa and Gabriela Arteaqa who roved to me on the basis of satisfactory evidence to be the persor?whose nam subscribed to the within instrument and acknowledged to me that lag/slid executed the same in authorized capaci,and that by hg/ signatur?n the instrument the perse?or the entity upon behalf of which the perso 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. 4 PAMELA J. tones: 16207" i . j; Notary Pub?c I ammu- Counly ,hw-a I Signature Commission Expires: November 12 2009 Notary Name: Pamela]. Boross Notary Phone: 951 897-6013# Notary Registration Number: 1620718 County of Principal Place of Business: Riverside Order Number: (RW) Page Number: 6 LEGAL DESCRIPTION Real property in the City of Victorville, County of San Bernardino, State of California, described as follows: PARCEL 1: LOT 62 OF TRACT NO. 17089, AS SHOWN ON A MAP RECORDED IN BOOK 328, PAGES 21 TO 28 INCLUSIVE, OF MAPS, RECORDS OF SAN BERNARDINO COUNTY, CALIFORNIA. EXCEPTING THEREFROM ALL OIL RIGHTS, MINERAL RIGHTS, NATURAL GAS RIGHTS AND RIGHTS TO ALL OTHER HYDROCARBONS BY WHATSOEVER NAME KNOWN, TO ALL GEOTHERMAL HEAT AND TO ALL PRODUCTS DERIVED FROM ANY OF THE FOREGOING (COLLECTIVELY, AND THE PERPETUAL RIGHT TO DRILL, MINE, EXPLORE AND OPERATE FOR AND TO PRODUCE, STORE AND REMOVE ANY OF THE SUBSURFACE RESOURCES ON OR FROM THE LOT, INCLUDING THE RIGHT TO WHIPSTOCK OR DIRECTIONALLY DRILL AND MINE FROM LANDS OTHER THAN THE LOT, WELLS, TUNNELS AND SHAFTS INTO, THROUGH OR ACROSS THE SUBSURFACE OF THE LOT, AND TO BOTTOM SUCH WHIPSTOCKED OR DIRECTIONALLY DRILLED WELLS, TUNNELS AND SHAFTS WITHIN OR BEYOND THE EXTERIOR LIMITS OF THE LOT, AND TO REDRILL, RETUNNEL, EQUIP, MAINTAIN, REPAIR, DEEPEN AND OPERATE ANY SUCH WELLS OR MINES, BUT WITHOUT THE RIGHT TO DRILL, MINE, EXPLORE, OPERATE, PRODUCE, STORE OR REMOVE ANY OF THE SUBSURFACE RESOURCES THROUGH OR IN THE SURFACE OR THE UPPER FIVE HUNDRED FEET (500') OF THE SUBSURFACE OF THE LOT, AS RESERVE BY STANDARD PACIFIC CORP., A DELAWARE CORPORATION, IN DEED RECORDED AS INSTRUMENT NO. . OF OFFICIAL RECORDS. ALSO EXCEPTING THEREFROM ALL WATER AND WATER RIGHTS, IF ANY, WITHIN AND UNDERLYING THE LOT, AS RESERVED BY STANDARD PACIFIC CORP., A DELAWAR CORPORATION, IN DEED RECORDED AS INSTRUMENT NO. 2 OF OFFICIAL RECORDS. PARCEL 2: EASEMENT FOR ENCROACHMENT AND SUPPORT PURPOSES, AS DESCRIBED IN THE DECLARATION OF COVENANTS, CONDITIONS, RESTRICTIONS AND RESERVATION OF EASEMENT FOR AMBER VALLEY RECORDED NOVEMBER 26, 2007 AS INSTRUMENT NO. 2007-0663588 OF OFFICIAL RECORDS OF SAN BERNARDINO COUNTY, CALIFORNIA. 3n Hog/w 0:1 ?o-m @5309le H'rstAmer/can 77t/e RECORDING REQUESTED BY 20071 wnlurl <<< held are Sammy lnmmem, uprr merrme paymam shal also mclude emu a sum (w an annual mumna to be paid by Lander 1m Secretary, or (ii) a charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the charge by the Secretary, these items are called 'Escrow Items" and the sums paid to Lender are called 'Escrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time except that the cushion or reserve permitted by RESPA for unanticipated disbursements or disbursements before the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium. If the amounts held by Lender for Escrow ltems exceed the amounts permitted to be held by RESPA Lender shall deal with the excess funds as required by RESPA. If the amounts of funds held by Lender at any time are not sufficient to pay the Escrow ltems when due, Lender may notify the Borrower and require Borrower to make the shortage or deficiency as permitted by RESPA. The Escrow Funds are pledged as additional security for all sums secured by this Security instrument If Borrower renders to Lender the full payment of all such sums, Borrower's account shail be credited with the balance remaining for all installment items and and any mortgage insurance premium installment that Lender has not become obligated to pay to the Secretary, and Lender shall refund any excess funds. to Borrower. Immediately prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be credited with any balance remaining for all installments for items and 3. Application of Payments All payments under Paragraphs and 2 shall be applied by Lender as follows: FIRST, to the mortgage insurance premium to be paid by Lender to the Secretary or to the charge by the Secretary instead of the mortgage insurance premium; SECOND, to any taxes, special assessments, leasehold payments or ground rents, and ?re, ?ood and other hazard insurance premiums, as required; THIRD, to interest due under the Note; FOURTH, to amortization of the principal of the Note; FIFTH, to late charges due under the Note. 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now in existence or subsequently erected, against any hazards, casualties, and contingencies, including ?re, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also insure all improvements on the Property. whether now in existence or subsequently erected, against loss by ?oods to the extent required by the Secretary. All insurance shall be carried with companies approved by Lender. The insurance policies and any renewals shall he held by Lender and shall include loss payable clauses in favor of, and in a form acceptable to, Lender. In the event of loss. Borrower shail give Lender immediate notice by mail. Lender may make proof of loss if not made by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may be applied by Lender, at its option, either to the reduction of the indebtedness under the Note and this Security Instrument, ?rst to any delinquent amounts applied in the order in Paragraph 3, and then to prepayment of principal, or to the restoration or repair of the damaged property. Any application of the proceeds to the principal shall not extend or postpone the due date of the payments which are referred to in Paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of foreclosure of this Security Instrument or other transfer of tide to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser. 5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless the Secretary determines this requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall notify Lenders of any extenuating circumstances Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the tease. If Borrower acquires fee title to the Property, the leasehold and fee tide shall not be merged unless Lender agrees to the merger in writing. . 6. Charges to Borrower and Protection of lender's Rights In the Property. Borrower shall pay all governmental or municipal charges, fines and impositions that are not included in Paragraph Borrower shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by Paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a. legal proceeding that may signi?cantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2. Any amounts disbursed by Lender under this Paragraph shall become an additionai debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. 7. Condemnation, The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of' the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, ?rst to any delinquent amounts applied in the order provided in Paragraph 3, and then to prepayment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the payments, which are referred to in Paragraph 2, or change the amount of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security instrument shall be paid to the entity legain entitled thereto. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt. Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, require immediate payment in full of all sums secured by this Security Instrument if: Borrower defaults by failing to pay in full any payment required by this Security Instrument prior to or on the due date of the next or (ii) Borrower defaults by falling, for a period of thirty days, to perform any other obligations contained in this Security instrument. Sale Without Credit Approval. Lender shall, if permitted by applicable law and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument if: All or part of the Property, or a bene?cial interest in a trust owning all or part of the Property, is sold or othenrvise transferred (other than by devise or descent) by the Borrower, and (ii )The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance with the requirements of the Secretary. No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events Regulations of HUD Secretary. in many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. Mortgage Not Insured, Borrower agrees that should this Security instrument and the note secured thereby not be eligible for insurance underthe National Housing Act within 60 days from the date hereof, Lender may, at its option and notwithstanding anything in Paragraph 9, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security instrument and the note secured thereby, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary 10. Reinstatement Borrower has a right to be reinstated if Lender has required immediate payment in ?ll because of Borrower's failure to pay an amount due under the Note 'or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attorneys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shail remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude the foreclosure on different grounds in the future, or reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance by lender Not a Waiver. Extension of the time of payment or modi?cation of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shalt not operate to release the liability of the original Borrower or Borrower's successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othewvise modify amortization of the sums secured by this Security instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and bene?t the successors and assigns of Lender and Borrower, subject to the provisions of Paragraph 9.b. Borrower's covenants and agreements shall be, joint and several. Any Borrower who signs this Security Instrument but does not execute the Note: is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's, interest in the Property under the terms of this Security instrument; is not personally obligated to pay the sums secured by this Security Instrument; and agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security instrument or the Note without that Borrower's consent. 13. Notices Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the property Address or any other address Borrower designates by notice to Lender. Any notice to Lender'shall be given by first class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the :Note con?icts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the con?icting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. 16. Assignment of Rents Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property Borrower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs'; each tenant of the Property to pay the rents to Lender or Lenders agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of breach to Borrower: all rents received by Borrower shall be held by Borrower .as trustee for bene?t of Lender only, to be applied to the sums secured by the Security Instrument; Lender shall be entitled to collect and receive all of the rents of the Property; and each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the tenant Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this Paragraph 16. Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid in fill. NON-UNIFORM COVENANTS. Borrower and Lenderfurther covenant and agree as follows: 17. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 17, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If lender invokes the power of sale, lender shall execute or cause Trustee to execute a written notice of the occurrence of an event of default and of lender's election to cause die Property to be sold, Trustee shall cause this notice to be recorded in each county in which any part of the Property is located, lender or Trustee shall mail copies of the notice as prescribed by' applicable law to Borrower and to the other persons prescribed by' applicable law. Trustee shall ive public notice of sale to the persons and in the manner prescribed by? applicable law. After the time required by' applicable law, Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines Trustee may postpone sale of all or any parcel of the Property by' public announcement at the time and place of any previously scheduled sale. lender or its designee may purchase the Property at any sale. Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or implied. The recitals in the Trustee's deed shall be prima lade evidence of the truthof the statements made therein. Trustee shall apply the proceeds, of the sale in the foil owing order: to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees: to all sums secured by' this Security Instrument; and any excess to the person or persons legally entitled to it. 18. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee._ Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. 19. Substitute Trustee. Lender, at its option, may from time to time appoint a successor trustee to any Trustee appointed hereunder by an instrument executed and acknowledged by Lender and recorded in the foiic of the Recorder of the county in which the Property is located. The instrument shall contain the name of the original Lender, Trustee and Borrower, the book and page where this Security Instrument is recorded and the name and address of the successor trustee. Without conveyance of the Property, the successor trustee shall succeed to all the title, powers and duties conferred upon the Trustee herein and by applicable law. This procedure for substitution of trustee shall govern to the exclusion of all other provisions for substitution. 20. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property Address. 21. Statement of Obligation Fee. Lender may collect a fee not to exceed the maximum amount permitted by law for furnishing the statement of obligation as provided by Section 2943 of the Civil Code of California. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument. the convenants of each such rider shall be incorporated into and shatl amend and supplement the and agreements of this Security Instrument as if the rider(s) were in a part of this Security Instrument. [Check applicable b0xes)]. _Condominium Rider Graduated Payment Rider Growing Equity Rider Planned Unit Development Rider Other [Specify] BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in pages 1 through 6 of this Security Instrument and in any rider(s) executed by Borrower and recorded with it. Witness: Witness: if] Andrew Levy (Saab (Seat) Borrower Borrower (Seal) (Sea!) Borrower Borrower (Seal) (Seal) Borrower Borrower STATE OF CALIFORNIA SS COUNTY or Uenm On 0% Dad 200? before me, Seance, a Notary Public in and for said County and State, personally appeared AHdreW Levy personally known to me (or proved to me on the basis of satisfactory evidence) to be the namew islare subscribed to the within instrument and acknowledged to me that he/sh?/tney executed the same in his/heflthelr authorized capaciterS), and that by his/he?their signature(s)? on the instrument the person(s), or the entity upon behalf of which the persona) acted, executed the instrument. JEANNE DUNCAN com. #1489111 Notary Public-Calltornia . courm' My Comm. Exp. May 11, 2008 WITNESS my hand and official at Signature WQQV FOR NOTARY SEAL OR STAMP REQUEST FOR RECONVEYANCE TO TRUSTEE: The undersigned is the holder of the note or notes secured by this Deed of Trust. Said note or notes, together with ail other indebtedness secured by this Deed of Trust, have been paid in full. You are hereby directed to cancel said note or notes and this Deed of Trust, which are delivered hereby, and to reconvey, without warranty, all the estate now held by you under this Deed of Trust to the person or persons legally entitled thereto. Dated: tartan .. nmnmi ram nan 7 53"" "In" In! I 7 Ra nr under um? 2001-0409296 1 rum 5 RECORDING REQUESTED BY $106615 LAW caunlar WHEN RECORDED MAIL rrIIrs [Eary J. Briggs [1446.00] 1 mm ma amass Enggs Law Corporation see 66 cm 95 East '0 street, sIrrta 111 Wand. cums _l nu. drdar seam rte, 'n-I'Is LINE FOR DEED oF'raus'I' OF CALIFORNIA FNA CASE no. DEED OF TRUST ("Secunly Instrument") ll made on ma 10m day at June. 2007 ntetruswr Is Iatrray J. Nieuat and Martens Niahet (Borrower? VH9 trustee Is: Hm Arruriaan ma cor-puny ('Trustee'a The benefia ry . angga tar. moor-Iran a Catngmin whim is organized and en'snng underthe laws 01 THE STATE OF CALIFORNIA and whoaa address it C'Lemiar') Hammer owes Lender Iha pnncipai aurn mnoitantus. $200 00000 debt Is ervtdel'oed by Bonwrers note dated the sane date DI 1hr; SICurily Inatrunent t-Npte-t, which provides Ipr payments. Iha tun dam 11 not paid eartran due and payaaIe an oohdueron oI beneficIag's regresentafiou uI Barrost nus sedurny secured Lendar the repayment ot the dun amended by me Nmy with interest and art ranswals, amtarratana and the payment of an other wmsy Mm interest advanced under 6 to pmteat the Iacunty of the Security Instrument and the penonnahda drummer: Covenants artd agreements secunty Instrument and tha Mme. For an: urpose, aurpwer irrevocably drums and conveys In In unat. with power 171 eats, the Inflow-ha descnbed 0mm located in an Bernardlno County has the address a" CA 91701 The rear property located In the City oi Rand>> Cuurnonga. County MSan Barnard'nd, state ofCam'om ,deacr-ibed Is IaIIdwe: Lot 11, Tract ng. 1w. in the offiancno Curnanga, Ooumy at San Bernard-no, state of Calnornia. a: per pIaI rammed In Bonk 205 Maps, pages k) 1, Inclusive. records at said County. TOGETHER WITH air the nW or hereartar eractad on me property. and an eaaernanta lights, appunananus, rents myaItres. mrnerai. art and gas and prams water and stadr and an hmrea now or heraaher a part at or: properly AII replacement: and addrnens snail atw be owned by me Sacunty AII d1 Ina toregaing rs IeIerred In In thra Secumy'" Instrument as the BORROWER COVENANTS that Borrower aqutIy seized at the estate hereby canveyed and has the to grant and convey the Property and that the Property Is unencumbered, mm Idr artdumhranaet a! record Rome! warrant: and mi darand ganeratiy the ntie to the Prapetty agarnst dams and demands. sunset to any oriemrd 1. e1 Prinatpet, Int-mt and Late Charge. Bummer shall pay rattan due lhe at and Interest an, the dept evidenmd by the Note and late Chimes due under the Note 2. Mom" a! VIM, IllulrIHCI 01h" chargn Baum! lhaH Include In sum payan Ingamel me plinnpa' and Inlelefl marges, I sum luv Ines and weal-l amnmenls lemed (D be ievted agarnstIhe Property Isaaehard payments or ground mils an the Property. and (C) premiums 1hr Insurance required under Paragraph 4 In any year which the Lander 1mm pry a mortgage Insurance premiml to the Secretary of Housing and Urban 1-5earetaryt Cr in any year In Much such mid have been reqrnrad r1 Lender stilt held the Sammy Instrument each monme payment shalt aIro rndude anhar tn a sum rm the annuai mortgage Inaurande pramrum to be paid by Lender lo the iv Secretary, or (ii) a charge instead of a mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to be determined by the Secretary. Except for the charge by the SeCretary, these items are called 'Escrow items" and the sums paid to Lender are called 'Escrow Funds." Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to exceed the maximum amount that may be required for Borrower's escrow account under the Reai Estate Settlement Procedures Act of 1974, 12 U.S.C. Section 2601 et seq. and implementing regulations, 24 CFR Part 3500, as they may be amended from time to time except that the cushion or reserve permitted by RESPA for unanticipated disbursements or disbursements before the Borrower's payments are available in the account may not be based on amounts due for the mortgage insurance premium. If the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA Lender shall deal with the excess funds as required by RESPA. if the amounts of funds held by Lender at any time are not sufficient to pay the Escrow Items when due, Lender may notify the Borrower and require Borrower to make the shortage or de?ciency as permitted by RESPA. The Escrow Funds are pledged as additional security for all sums secured by this Security instrument If Borrower renders to Lender the full payment of all such sums, Borrower's account shalt be credited with the balance remaining for all installment items and and any mortgage insurance premium installment that Lender has not become obligated to pay to the Secretary, and Lender shall refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be credited with any balance remaining for all installments for items and 3. Application of Payments All payments under Paragraphs I and 2 shall be applied by Lender as follows: FIRST, to the mortgage insurance premium to be paid by Lender to the Secretary or to the charge by the Secretary instead of the mortgage insurance premium; SECOND, to any taxes, special assessments, leasehold payments or ground rents, and ?re, ?ood and other hazard insurance premiums, as required; THIRD, to interest due under the Note; FOURTH, to amortization of the principal of the Note; FIFTH, to late charges due under the Note. 4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether new in existence or subsequently erected, against any hazards, casualties, and contingencies, including ?re, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. Borrower shall also insure all improvements on the Property, whether now in existence or subsequentiy erected, against loss by ?oods to the extent required by the Secretary. All insurance shall be carried with companies approved by Lender. The insurance policies and any renewals shall he held by Lender and shali include loss payable clauses in favor of, and in a form acceptable to, Lender. In the event of loss. Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not made by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All or any part of the insurance proceeds may be applied by Lender, at its option, either to the reduction of the indebtedness under the Note and this Security Instrument, ?rst to any delinquent amounts applied in the orderin Paragraph 3, and then to prepayment of principal, or to the restoration or repair of the damaged property. Any application of the proceeds to the principal shall not extend or postpone the due date of the payments which are referred to in Paragraph 2, or change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity legally entitled thereto. In the event of foreclosure of this Security Instrument or other transfer of tide to the Property that extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser. 5. Occupancy, Preservation. Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds Borrower shall occupy, estabiish, and use the Property as Borrower?s principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless the Secretary determines this requirement will cause undue hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower?s control. Borrower shall notify Lenders of any extenuating circumstances Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and fee tide shall not be merged unless Lender agrees to the merger in writing. 6. Charges to Borrower and Protection of lender's Rights In the Property. Borrower shall pay all governmental or municipal charges, ?nes and impositions that are not included in Paragraph Borrower shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in the Property, upon Lender's request Borrower shall furnish to Lender receipts evidencing these payments. If Borrower fails to make these payments or the payments required by Paragraph 2, or fails to perform any other covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may signi?cantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2. Any amounts disbursed by Lender under this Paragraph shall become an additional debt of Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of disbursement, at the Note rate, and at the option of Lender, shall be immediately due and payable. 7. Condemnation, The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in place of condemnation, are hereby assigned and shall be paid to Lender to the extent of the fuil amount of the indebtedness that remains unpaid under the Note and this Security Instrument. Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, ?rst to any delinquent amounts applied in the order provided in Paragraph 3, and then to prepayment of principal. Any appiication of the proceeds to the principal shall not extend or postpone the due date of the payments, which are referred to in Paragraph 2, or change the ampunt of such payments. Any excess proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security Instrument shall be paid to the entity iegally entitled thereto. 8. Fees. Lender may collect fees and charges authorized by the Secretary. 9. Grounds for Acceleration of Debt Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment defaults, require Immediate payment in fuli of all sums secured by this Security Instrument if: Borrower defaults by failing to pay in full any payment required by this Security Instrument prior to or on the due date of the next payment, or {it} Borrower defaults by failing, for a period of thirty days, to perform any other obligations contained in this Security Instrument. to) Sale Without Credit Approval. Lender shall, if permitted by law and with the prior approval of the Secretary, require immediate payment in full of all the sums secured by this Security Instrument if: All or part of the Property, or a bene?cial interest in a trust owning all or part of the Property, is sold or othenivise transferred (other than by devise or descent) by the Borrower, and (ii )The Property is not occupied by the purchaser or grantee as his or her principal residence, or the purchaser or grantee does so occupy the Property but his or her credit has not been approved in accordance with the requirements of the Secretary. No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but Lender does not require such payments, Lender does not waive its rights with respect to subsequent events Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations of the Secretary. Mortgage Not Insured, Borrower agrees that should this Security Instrument and the note secured thereby not be eligible for insurance under the National Housing Act within 60 days from the date hereof, Lender may, at its option and notwithstanding anything in Paragraph 9, require immediate payment in full of all sums secured by this Security Instrument. A written statement of any authorized agent of the Secretary dated subsequent to 60 days from the date hereof, declining to insure this Security Instrument and the note secured thereby, shall be deemed conclusive proof of such ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the Secretary 10. Reinstatement Borrower has a right to be reinstated if Lender has required immediate payment in ?ll because of Borrowers failure to pay an amount due under the Note 'or this Security Instrument. This right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and customary attomeys' fees and expenses properly associated with the foreclosure proceeding. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit reinstatement if: Lender has accepted reinstatement after the commencement of foreclosure proceedings within two years immediately preceding the commencement of a current foreclosure proceeding, (ii) reinstatement will preclude the foreclosure on different grounds in the future, or reinstatement will adversely affect the priority of the lien created by this Security Instrument. 11. Borrower Not Released; Forbearance by lender Not a Waiver. Extension of the time of payment or modi?cation of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrowers successor in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or othen~ise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shail not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-Signers. The covenants and agreements of this Security Instrument shall bind and bene?t the successors and assigns of Lender and Borrower, subject to the provisions of Paragraph 9.b. Borrower's covenants and agreements shall be, joint and several. Any Borrower who signs this Security Instrument but does not execute the Note: is co-signing this Security Instrument only to mortgage. grant and convey that Borrower's, Interest in the Property under the terms of this Security Instrument; is not personally obligated to pay the sums secured by this Security Instrument; and agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Notices Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by ?rst class mail unless applicable law requires use of another method. The notice shall be directed to the property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by ?rst class mail to Lender's address stated herein or any address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 14. Governing Law; Severability. This Security Instrument shall be governed by Federal law and the law of the jurisdiction in which the Property is located. in the event that any provision or clause of this Security instrument or the :Note con?icts with applicable law, such con?ict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the con?icting provision. To this end the provisions of this Security instrument and the Note are declared to be severable. 15. Borrower's Copy. Borrower shall be given one conformed copy of this Security instrument. 16. Assignment of Rents Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the Property Borrower authorizes Lender or Lender?s agents to collect the rents and revenues and hereby directs'; each tenant of the Property to pay the rents to Lender or Lenders agents. However, prior to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the bene?t of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment for additional security only. if Lender gives notice of breach to Borrower: all rents received by Borrower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security instrument; Lender shall be entitled to collect and receive all of the rents of the Property; and each tenant of the Property shall pay all rents due and unpaid to Lender or Lender?s agent on Lender?s written demand to the tenant Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this Paragraph 16. Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However. Lender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by the Security instrument is paid in ?ll. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 17. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 17, including, but not limited to, reasonable attorneys' fees and costs of title evidence. lf lender invokes the power of sale, lender shall execute or cause Trustee to execute a written notice of the occurrence of an event of default and of lender's election to cause die Property to be sold, Trustee shall cause this notice to be recorded in each county in which any part of the Property is located, lender or Trustee shall mail copies of the notice as prescribed by' applicable law to Borrower and to the other persons prescribed by' applicable law. Trustee shall give public notice of sale to the persons and in the manner prescribed by? applicable law. After the time required by' applicable law, Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines Trustee may postpone sale of all or any parcel of the Property by' public announcement at the time and place of any previously scheduled sale. lender or its designee may purchase the Property at any sale. Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or implied. The recitals in the Trustee's deed shall be prima lade evidence of the truth of the statements made therein. Trustee shall apply the proceeds, of the sale in the foil owing order: to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees; to all sums secured by' this Security instrument; and any excess to the person or persons legally entitled to it. 18. Reconveyance. Upon payment of all sums secured by this Security instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legaily entitled to it. Such person or persons shall pay any recordation costs. 19. Substitute Trustee. Lender, at its option, may from time to time appoint a successor trustee to any Trustee appointed hereunder by an instrument executed and acknowledged by Lender and recorded in the folic of the Recorder of the county in which the Property is located. The instrument shall contain the name of the original Lender, Trustee and Borrower. the book and page where this Security instrument is recorded and the name and address of the successor trustee. Without conveyance of the Property, the successor trustee shall succeed to all the title. powers and duties conferred upon the Trustee herein and by applicable law. This procedure for substitution of trustee shall govern to the exclusion of all other provisions for substitution. 20. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower?s address which is the Property Address. 21. Statement of Obligation Fee. Lender may collect a fee not to exceed the maximum amount permitted by law for furnishing the statement of obligation as provided by Section 2943 of the Civil Code of California. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument. the convenants of each such rider shall be incorporated into and shall amend and supplement the and agreements of this Security Instrument as if the rider(s) were in a part of this Security Instrument. [Check applicable boxes)]. Condominium Rider Graduated Payment Rider Growing Equity Rider Planned Unit Development Rider Other [Specify] BY SIGNING BELOW, Borrower accepts and agrees to the terms contained in pages 1 through 6 of this Security Instrument and in any rider(s) executed by Borrower and recorded with it. Witness: Witness: (Sea (Seal) Borrower Ma Borrower (Seal) (Seal) Borrower Borrower (Seal) (Seal) Borrower Borrower STATE or: CA COUNTY or: is; [ignore/c. 33 f, i On or [if c9807 before me, Sand ra/ has a Notary Public lg and for said pointy and?tate. personal! appeared it ?1 I (personally known (or proved to me on the basis of satis?fa'bW?eviden??T to be the person(s) whose name(s) ms is/are subscribed to the within instrument and acknowledged to 4 1474059 me that he/she/they executed the same in his/her/their Wm.? 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. 355:"; WITNESS - - Signature 4 FOR NOTARY SEAL OR STAMP REQUEST FOR RECONVEYANCE TO TRUSTEE: The undersigned is the holder of the note or notes secured by this Deed of Trust. Said note or notes, together with all other indebtedness secured by this Deed of Trust. have been paid in full. You are hereby directed to cancel said note or notes and this Deed of Trust, which are delivered hereby, and to reconvey, without warranty, all the estate now held by you under this Deed of Trust to the person or persons legally entitled thereto. Dated: