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Deed of Trust and Security Agreement 2009-0685922 r _� • ; FI I aoc # 2009-4685922 R� AT TNE .EQUES7 OF I lII III III I I IIIII II I IIIII III I I lI IIIII III I I I IIIII I III CHICAGO TITLE CGMPANY 5UBDIVISION:DEPL I�IP COMPLIMENTEIRYRECORDING DEC 11 , 2�09 8:00 AM REQUESTED�PURSUANT Z� .E,AP! DIEGO�LOJNTL FEC�R OFFICE GOVERNMENT�COpE 5ECT[ON 27383 �� oP�,�ir, �. E,uT�Er�, cuur�rv r�ECUa�Er� fEES�. O.OU ',��d:aYS: 2 DA: 1 CityofEoway PAGES• 1-1 13325 Civic Center.Drive Poway, CA 92064 � I���II ��III ��I�I II�II �I�II ��III I�III ��III ��III ��III ���II ��III ���II ��III ���I ���I Attn: Redevelopment Agency Housing Manager QC I�—` �� a--a-- U I� T DEED OF TRUST AND SECURITY AGREEMENT � Q 21 CITY OF POWAY (BEGIN PROGRAM) NOTICE TO BORROWER THIS DEED OF TRUST CONTAINS PROVISIONS RESTRICTING ASSUMPTIONS THIS DEED OF TRUST AND SECURITY AGREEMENT ("Deed of Trust") made this � I+h day of d P1Q�@� ; 20�� among the trustor, David L. and Lydia M. Rose ("Borrower"), whose address is 12984 Choctaw Way, Poway, CA 92064, and Chicago Title ("Tcustee"), the City of Poway (the "City") as Beneficiary. The Borrower, in consideration of and as security for the loan of funds to the Borrower by:Agency, irrevocably grants, transfers, conveys and assigns to Trustee, in trust, with power of sale, the property located in the and more commonly known as: 12984 Choctaw Way, Poway, CA 92064 (the "Property"). 1. BORROWER, IN CONSIDERATION OF THE INDEBTEDNESS HEREIN RECITED AND THE.TRUST HEREIN CREATED, HEREBY IRREVOCABLY GRANTS, TRANSFERS,AND ASSIGNS to Trustee in trust, with power of sale and right of entry and possession, all of,Borrower's right, title and interestnow held or hereafter acquired in • and:to the following: (a) all of that certain real property (the "Property") located at [Insert Property Address] in the City of Poway, County of San Diego, State of California, which is more ' particulazly described in the attached Exhibit A which is incorporated herein by this reference; and (b) all buildings, improvements and fixtures now or hereafter erected thereon, and all appurtenances, easements, and articles of property now or hereafter affixed to, placed upon or used in connection with the Property, together with all additions to, substitutions for, changes in or replacements of the whole or any part of said articles of property; all of which are hereby pledged and assigned, transferred, and set over onto Trustee, and for purposes of this Deed of Trust declazed to be part of the realty; provided, however, that furniture and other personal property of Borrower now or hereafter situated omsaid real property are not intended to be included as part of the Property. 1 1552\03\7014603 " � �—�l 3- 3�zz 2. FOR THE PURPOSE OF SECURING 2.1 Repayment of the indebtedness evidenced by thaf certain Promissory Note of the Borrower dated as of �Qee,,�e,� i I , 20�, to the benefit of the, City of Poway=and entitled BEGIN Program Promissory Note (the `Note") of the Borrower in the . principal amounf Fifty-Eight Thousand Eight Hundred Fifty-Six Dollars ($58;856); together with simple interest on such indebtedness according to the terms of theNote, and any and all amendments, modifications extensions or renewals of the Note. The Note and this Deed of Trust are subject to the terms, conditions, and restrictions of the State of CalifomiaBEGIN Program as set for the in the Health and Safety Code section 50860 et:sec : and implementing guidelines adopted by the California;Department of Housing and.0ommunity Development all of which are hereby incorporated 6y reference. 2.2 Payment of such additional sums, with interest thereon: (a) As, may hereafter be borrowed Lender by the then-record owner of the Property and evidenced by a promissory note or notes reciting that it or they are so secured and all modifications, extensions, or renewals of the Note; and {b) As may be incurred, paid, or advanced by Lender, or as may otherwise be due fo Trustee or Lender, under any provision of this Deed of Trust and any modification, extension, or renewal of this Deed of Trust; and (c) As may otherwise be paid or advanced by Lender to protecf the security or priority of this Deed of Trust. 2.3 Performance of each obligation, covenant, and agreement of Bonowet contained in this Deed of Trust, the Note, or any other document executed by Borrower in connection with the loan(s) secured by this Deed of Trust, and all.amendments to these documents whether set forth in this Deed of Trust or incorporated in this Deed of Trust by reference. 3. BORROWER-COVENANTS. Borrower hereby covenanfsto mainCain and protect the�security of this Deed of Trust; to sec.ure the full and timely performance by Bonower of "each and every obligation, covenant, and agreement of Borrower under the Note and this Deed of Trust, and as additional consideration for the obligation(s) evidenced by the Note, Bonower coyenants as follows: 3.1 Title. That Borrower is lawfully seized=of the estate hereby conveyed and has the right to grant and convey the Property, and thafBorrowei will warrant and defend generally the title of the Propertyagainst all claims and demands subject to any declarations, i easements, or restrictions listed in the schedule of exemptions to coverage in any title insurance policy insuring Lender's interest in the Property. 2 1552\03V014603 " 3�123 ^3.2 Payment<of Principal au'd.Interest, That Bonower shall_pTOmptly pay, when due;,tHe�principal and interesY on the NoYe arid such othec,charges as aze provided in the Note, andsuch.other amounts as aze provided under'this Deed of Trust. 3.3 Mainfenance of the Propertv. (a) To'keep the Property in a decent, safe, sanitary tenanta6le condition"and repair and permit no waste thereof; (b) notto commit�or su£fer to be done or exist on or about-the Property any condition causing the Property to become less valuable; (c) remove, demolish or. structurally alter any buildings and`.improvements now or hereinaftar loc'ated on the Property; (d) to repair, restore or rebuild promptly any buildings or improvements on the P-roperty that,may become damaged or'be desfroyed while subject to the lien of this Deed of Trust (e) to ,comply with all applica6le laws; ordinances and governmental regulaYions affecting the Property or;reguiring any alteratiomorimprovement thereof,.and not to suffer or permit any violations of any such law, ordinance orgovernmental regulation, `nor-ofany covenant, condition or restriction affecting the Properly; (� noYto initiate or acquiesce,in any change in any zoning or oth'ef land use or legal classif cation wHich affects any of the Property, withoutthe;Lender's written consent;,and (g) not to alter the use:of all orany part of the Property without the prior written consent of the Lender. 3.4 Appear and Defend. Borrower shall appear in and defend,any.-action or proceeding purporting to affect the security hereof or the rights or powers of the Lender or Trustee; and to pay all costs and ezpenses, including cost of evidence of title and attorney's fees in.a reasonable-sum, in any.such action or proceeding in which the Lender or Trustee may appear;'and in any suit brought by the Lender to foreclose this deed. 3.5 Pavmenf of Taxes and Utilitv Char�es: Borrower shall pay, least::;ten (10) days before.delinquency all,taxes and assessments affecting the Property, including assessments on appurtenant water stock; when due, all encumbrances, cfiarges and liens, fines and impositions attributable to the P,roperty,leasehold payments "or ground rents, if any, and any interesY on the Property or any part.thereof; all costs, fees and expenses of,tfiis trusti. Borrower shall make such payments when due, directly fo the payee thereof. Borrower shall promptly fumish toLenderall notices amounts due under this paragraph, and Borrower shall promptly furnish to Lender receipts'evidencing all such payments made. 3:6 Insurance. To keep the Property insured with loss payable to the Lender againsY loss or damageby fire and such othei hazaids, casualties and contingencies and by such companies on "such forms and in the amount of the replacemenY cost of the Property, and to deliver the original of all such°policies to the Lender, together with receipts satisfactory to the Lenderevidencing,payment of the premiums. All such policies provide that the Lender shall be given thirty (30) days?ad`,vance written notice of tl�e cancellation, expiration or termination ofany such policy or any materiaLchange in the coveragc afforcled by it: Renewal policies and any replacemenTpolicies, together with premium receipts satisfactory to the Lender, be delivered to the Lender aT least thirty (30) days prior to the expiration of existing policies. Neither Trustee!nor the Lender shall by reason of accepting rejecting, approving or obtaining insurance incur any liability for the existence, nonexistence, form or legal sufficiency ofsuch insurance, or solvency of'any insurer for payment of losses. All insurance proceeds for such losses`must be utilized for the repair or restoration ofthe insured property. 3 15�2\03V014603 - . 3d,24 3.7 Pavments and Discharge,ofLiens. Bbrrower will.pay, when due, all clairris.o£.every kind and,nature wfiich might or could become a.lieri on the Property or any part ' thereof; provided, howeyer, that`the, following are excepfed from tlits prohibiti'on: (a) liens for taxes and as@essments which are not.delinquent,althougfi'by law are given the status of a lien, and (b) such of the above claims as are, and orily during:the time they are, being confested.by Borrower in good faith and by appropriate legal proceedings, and Borrower shall posY§ecurity for the payrrientof these contested claims as may be requested by the Lender. Borrower shall not_ defaulf in the payment or performance of,any obligation secured bya lien mortgage or deed of trusT which is.superior to this Deed of Trusf. 3.8 AssumpCion of Loan. Borrower acknowledges thaTthis Note is given in connection with the purchase oP:the Ecoperty as part of a program-of the City of Poway to assist in the purchase of homes by low and inoderate income households. ConsequenUy, tfie principal , and interesY due urider tHis Nota are;assumable on]v by (i) income=qualifying househol'ds as � approved by the City and (ii) only,after five years from the recordation of the Deed of Trust securing this Note. The Note is due in full upon all other Transfers, except those permitted under Section 4.11 below. 4. IT IS MUTUALLY AGREED THAT 4:1 Apnlication of Payments. Unless applicakile lawprovides'otherwise;`all payments received byLender;under the Note and Section 2.1 shall be by Lender first to interest payable on theNote and then to the principal due on the Note. 4.2 Fdture Ail"vances. Upon request by Borrower;,Lender, at Lender's opt(on, may make future advances-to Boriower. All such future advances, with interest thereon, shall be added to and becomea the indebtedness secured,by this Deed of Trust when evidenced by promissory note(s)'reciting that such note(s) are securedby this Deed of Trust. 4.3 Disbursements to Protect Lender's:Securitv. All sums disbuised.by Lender to protect and preserve the Pxoperty, thi'sDeed of Tnzst, or' Lender's security for the performance of Borrower's;obligations under the Note shall be and be deemed`to be an indebtedness'of Borrower secuxed by this Deed of Trust. 4.4 Rrotection o£Lenderds_�Security. If'Borro,wer fails:to perform the covenants and' agreements'contained in this Deed of Trust; or if any action or proceeding is commenced which,materially affects Lender's interest in the Property, including, but not limited to, eminent domain,;insolvency; code enforcement, arrangements or proceedings,indolving a bankriipf or decedent, foreclosure of any morfgage secured by the Property or sale of the Property und'er,a power o£sale o,f;anyinstrurrient'secured by the Property, th'en Lender, at Lender's option notice to Borrower, maymake such appearance disburse such sums and take such action as is necessary toprotect Lender's interest, including but not limited to, disbuisement of reasonable attorney's fees and entry upon the Property to make repairs. Any amoupYs disbursed by Lender pursuant to°this Section 4.4 with interest thereon, shall become additional indebtedness.of Borrower secured by this Deed of Trust. 4 1552\03\7014603 3rt25 Unless Bonower and Lender agree to otlier terms4of payment„such amounts.shall = be payable upou';noYice from Lender to Borrower requesting'payment thereof, and;shall bear interest from the-date.of disbursement at the highest rate permissible;under applicable law: Nothing contained in this Section 4.4 shall require Lender to incur any expense or take any action hereunder. 4.5 Inspection. Lender or its agent may'make or cause to be made reasona6le entries upon and inspections of the Property. Lender shall give.Borrower notice at the time of ot priorto any such inspection'specifying reasonable cause for fhe inspection. 4.6 Awards•and Dama es. All judginents, awards of damageS, settlements and compensation made;in bonne6tion with or in lieu of (a) taking of;all or-any part ofor any interest in the:Property by'or under-assertion of the power of emirient domain (b) any damage to or. destruction of,the Property or,,anypart thereof by insured casualty; and (c) any other.'injury or damage to all or any part of the'Property, are hereby assigned to and sliall be paid to the:Lender. The Lender is.authorized and empowered not required) to collect and receive any such §ums and is authorized to apply them-in whole or in part upon any indebtedness or o6ligation secured hereby, in such order and manner as'the Lender shall detem�ine at its option. The Lender shall be entitled to setfle and adjust all claims under insurance policies.provided under this Deed`of Tnist and may deduct and retain from the proceeds of such insurance the amount of,all expenses incurred by it;in.connection with;any such settlement or adju5tment. All or any part of the amounts so collected and recovered.by the Lender may be released!to Borrower upon such condifions as the Lender inay imp"ose for its disposition. Application of all or any part ofthe; amounts collected:and receiv,edby the Lender or the release thereof-shall not cure or waive any default under this Deed of Trust. If the Property is abandoned by Bonower, or if, afternotice by Lender to Borrower thatthe condemnor offers to make an award or setfle a claim for damages, Borrower fails to respond to Lender: within thirty (30) days after the date such notice is,mailed, Lender is authorized-to coll8ot.and apply the proceeds, at Lender's option, either to restoration or repair of the Pioperty or to the sum'secured by this Deed of Trust. 4.7 Proh'ibition on T'ransfers of Interest. With�the exception of the-transfers permitted in Section 4.11 below; if all or any part of the Property ar an interest therein is sold,ar transferred by Borrowerwithout Lender's prior written consent, Lendermay, at Lender's option, declaze all tfie sums secured by this Securiry Instrument to be immediately due and payable: If Lender exercises such option.to.accelerate� Lender shall mail Borrower notice of acceleration.in accordance with Section 6.9 hereof. Such notices shall provide a period of not less than 30 days from theidate the.notice is�-mailed witNin whichBorrower may�pay the sums declared due. If borrower failsto pay such sums prior to the expiration of sucfi period, Lender may, without further notice or demand.on Borrower, invoke anyxemedies permitted by Section 5.2(a) hereof. 4.8 Sale or For6earance. No sale of the Property, forbearances on the part of the Lender orextension of the time;forpayment ofthe indebtedness hereby secured shall operate to release, discharge, waive, modify, change or affect the liability of Borrower either in whole or in part. 4.9 T-he�Lend'er's ��Ri�hts to�°R'elease. Without affecting the liabiliry of any person for payment'of any. indebtedness here6y secured (other than anypeTSOn released pursuant 5 I 552V03V7014603 3�25 hereto), including without limitation,any one or inore eridorsers�or guarantors; and without � affecting;the lien hereof upon any of tfie Eroperty.not released pursuant hereto, at any time and . : from time to-rime wrthoutnotice: (a) The Lender may, at.ifs�sole discretion; (i).release any person riow or hereafrer lialile for payment of any;or�all such�indebtedness. (ii) extend`the time for or agree to alter, fhe terms of payment of any or all of`such.indebtedness, and (iii) release or accepf additional security for such,indebtedness, or subordinate the;{ien or charge fiereof; and,(li) Trustee, actingpursuanf to the written request of the Lender; may.reconvey all or any par[ of the Property, corisent'to the making of any map or plot thereof; joi'n,in granting any assessment thereon, or joiq in`any such agreement of extension orsubordinafion. 4.1D Reconveya�ce. Upon,payment of all.sums secured by this Secuiity Instrument- Lendershall,request-Trustee to reconvey the'Property and shall surrend'er_this Security Instrument and all notes evidencing indebtedness:secured by'this Security Instrument°fo Trustee. Trustee shall`reconvey the Property without warranty and without charge to,fhe' person or persons 1'egally antitled thereto. Such person or persons sliall pay all costs of-recordation, if any. The recitals in the reconveyance of any matters or facts shall be conclusive proofiof.the truthfulness thereof. 4.11 12equirement:of Owner-occupancvand Eermitted Transfers: Borrower shall occupy the, PTOperty as;Borrower's principal place of`residence during'the term as described in the Note. Notwithstanding any other provision:of the Note or this Deed of Trust, the following transfers shall not�be.deemed to be a default-under the Nofe or this Deed of Tnxst and shall not cause acce]eration oE_payment of the BEGIN Loan: • (a) A,transfer to another income-qualifying household after five years from the recordation of the deed of'trust securing the BEGIN' loan. (b) The transfer of the Property to tfie suiviving joint tenant by devise descent or operation of the law„on,the death of a joint tenant. (c) A txansfer of the Property where the�spouse becomes an ownerof � the Property; _ (d) A-t'ransfer' of the Property`reeulYing from a.decree of dissolution of marriage,or domestic pai-tnership, legal separation or from'an incidental property settl'emenf ' agreement by which'the; spouse or domestic partner becomes an ownei of the Propei (e) A transfer by,Borrower to an inter vivos'trust in'whicfl the Borroweris and remains the sole beneficiary and Borrower continues to occupy the Pioperty. ,4.12 Subordination. Notwithstanding any other provision hereof, the provisions.of this Deed of Tiust shall be subordinate to the lien of Bank of America (tfie "Senior Lender") and'.shall,not impair the rights of Senior Lender, the Senior Lender's successors or assigns, to exercise'its;remedies under the'Senior Lender Deed of Trust;in the event of default under the Senior Lender Deed of Trust (defined below)by the Borrower. Such remediesunder the Senior Lender Deed' of Trust include the right of foreclosura or acceptance of a deed or 6 1552\03\701�4603 3�27 assignment in lieu of foreclosure. After such acceptance'of a deed or assignment in lieu of foredosure,,this Deed of Trust shall be;forever terminated and shall have no further effect as to the Property or any transferee thereafter; proyided;�however,.ifthe,holder of such Senior Lender Deed of Trust acquires title to Cfie Property pursuant to a deed or assignment in r lieu of foreclosure, Uiis Deed of Trust shall automatically terminate'upon such acquisition.oF title only if either- a'notice of default wasirecorded under the=applicable Senior Lender Deed of• Trust.or, ifno.notice of.default wasrecorded, (i) the Borrower has been given written not�ce of default,under sucNSenior Lender Deed of Trust (which requirement may be satisfied by recordation ofa notice of default under California Civil Code Section 2924), (ii) the Lender has beenprovided.with writtemnotice of Borrower's default, provided Lender recordsa request for notice under Civil Code Section 2924b;:and {iii) Borrower or its designee shall not have cured the default within sizty (60) days ofsuch notice. As used'in this Deed of Trust; SeniorLender Deed'of Tnist shall mean the deed or deeds of trust securing the loan or loans from the Senior Lender to Borrower. 5. EVENTSOFDEFAULT 5.1 EvenYs of Default. Any one or more of the following events 5ha11 consfitute a default under this Deed of Trust (a) failure of the Bonower to pay the indebtedness secured hereby or any installment thereof, whether principal, interest or otherwise, when and as the same become due and payable, whether at maturity or.by_accel'eration or otherwise; or (6) failure of Borrower to observe oi to perform any covenant condition or agreement to be observed or performed,byBorrower,pursuant to the Note or this Deed of Trust including but not ]imitied to the occupancy of property by Borrowerprovision; ar(c) the occurrence of any event which, under theferms oPthe Note, shall entitle the Lender to exercise the rights or remedies thereunder; or (d) the occunence of any event which, under the terms of the First Note and First Deed of ' Trust shall entitle the Lender to exercise the rights or remedies thereunder. 5.2 Accel'eration�and�Sale (a) Accele"ration. Except as provided in: Section 4.7, upon Borrower's breach of any covenant.or agreement'of Borrower in this Deed of-Trust, including the covenants to pay when due any sums secured by this Deed of Trust, upon Borrower's-failure to make any payment or to_ perPorm any of its obligations, covenants and agreements pursuant to the Note, Lender shall"mail notice to Borrower as provided in SacYion:6:9 hereof specifying: (i) the breach; (ii) the action requiced to cure:such breach; (iii) a date,:no less than,30 days from the date the notice is'mailed to Borrower by�which such breach must be cured; and (iv) that failure to cure such breach on,or before the date specified in the notice may result in acceleration of the sums secured by this Deed,of Ttust and sale of the Pioperty. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence,of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured,on or before the datespecified in the notice, Lender at Lender's option may declare all of the sums secured by this Deed of Trust to be immediately-due and payable without further demand and may invoke tfie powei of sale and any otfier remedies permitted by applicable law. Lender'shall be,entitled to collect`from.the Borrower, or sale proceeds, if any, all reasonable costs and expensas incurred in pursuing the remedies provided in,this paragraph, including, but not limited to, reasonable auorney's fees. 7 1552\03\70146U3 ��1zs (b) Borrowcr's Right' fo Reinstafe: Notwithstanding Lender's acceleration pf the sums secured,by this Deed'of Tcust; Borrower will haye the right to;have any proceedings;begun by Lender to enforce this Deed of Trusf'discoritinued at any time prior to five (5) days before sale ofthe Property pursuant-to thepower of sale contained in this Deed of Trust or at any°time prior to entry'of the judgmenY enforcing this Deed of Trust if: (i) Borrower pays Lender all,suins which would be then due under this Deed of TrusT and the Note, had no acceleration:occurred; (ii) Bortowec gays all reasonable expenses incurred by Lender and Trustee in enforcing the.coyenants and,agreements of Borrower confained in ttiis Deed of Trust, remedies including, but not limi4ed 40 reasonable attorneys' fees; and.(iii)Bonower takes such action as Lender.may reasonably require to assure that the lien of this Deed of Trust, Lender's interest in the Pcoperty and.Borrower's obligation to pay the`sums seaured by thisDeeB.of T'rust shall continue'unimpaited. Upon suchpayment and cure by Borrower, tfiisDeed of 1'rust and the obligations secured hereby will,remain in full force and'effect>as if no acceleration had occurred. (c) Sale. Afte_r delivery to Trustee ofa:Notice of Default=.and.Demand for Sale and after the expiration of-°such time and the giving of"such-notice of default and "sale as may then be required by law, and without demand on Bonower Trustee`shall sell the Proper[y at tfie time and place of sale fixed:by'"it in, said notice of sale, at public,:auction to the highest bidder for cash in lawful money of tfie United States of America, payable attime of'sale. Trustee may postpone'sale ofall or any portion ofthe Property by public announcement atsuch time and place of sale and from time Yo time thereafter may postpone such sale by public announcement at the time and place fized,by the preceding postponement. Any person, including Borrower, Trustee or the Lender, may pucchase at such sale. Upon suchsale by Trustee it shall deliver to such purchaser its deed conveying,the Property so sold,.buf without any covenant or warranty expressed`or implied. The recilals, in such deed of any matters or facts:shall be conclusive.proof of their truthfulness. Upon sale, by ; Trustee and afrer deducting all costs, expenses and fees of Trustee and of this Deed of T'rust; Trustee shall apply the-proceed's of sale to the payinent of the principal indebtedness hereb�y sebuiecl„ whether evidenced by tfie Notebr othenvise; or representing advances made or costs or.expenses paid or incurred.by the Lender under this Deed of Trust, or the secured obligationstor any other instrumenT.evidencing or securing any indebtedn�ss hereby secured and to the payment of all other sums thensecured thereby, including interest as provided-in°this Deed of Trust, the secure8 obligations.or anybthe'r such instrument, in `such order as the Lender shall direct; and then the remainder, if any, shall be`paid to the person or persons legally entitled thereto. (d) AssiQnment of;Rents; APPOintment`of Receiver; Lender in Possession. Upon acceleration under Section 5:2(a) hereof or abandonment of the Property, Lender (in person, by agent or by judiciallyappoinfed receiyer) shall be entitled to enter upon, take possession of and' manage the Properfy and to collect the renfs of the Property (if any) including those past dua. All rents collected by Lender or the Receiver. shall be applied firsf to payment of the costs of managemeriY of the Property and collection of rents;including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees and then to the sums secured' by tHis Security Instrument. Lender and the receiver shall be liable to account only'for tHose xents actually received. The provisions of this paragraph and Section 5.2(a) shall operate subject to the claims of prior lien holders. 8 1552\0317014603 3�29 5.3 Exercise of Remedies; Delav No exercise of;any righY,or remedy by the Lendet orTiustee hereunder shall constifute a waiver ofany�otherrighY ar remedy herein contained or provided by law, and no.delay by the Lender or Trustee in exercising,any such right or remedy fiereunder shall operate as a waiver thereof or preclude the exercise thereof during the continuance of any default fiereunder. 5:4 TrusteerSu6stitution. The irrevocable;power to appoint a substitute trustee or trustees.hereunder'is here6y expcessly g�anted to the Lender, to be exexcised at'any time hereafrer, without specifyipgany reason therefore by filing for record in the office where this Deed of Trust.is recorded a•deed of appointment, and said power of appointment of successor trustee or trustees may'be, exercised as ofren as and whenever the Lender deems advisable. The exercise of said,power ofappointment; no matter how often, shall "not be deamed an exhaustion thereof, and upori?recording of such deed or deeds,of appointment, the trustee or trustees so appointed,shall tbere'upon, without further act or d'eed "o'f conveyance, succeed to and become fully vested with identically the same title and estate�in and to the Property hereby conveyed and with all the rights; trusts and duties of the predecessor in the trust hereunder, with the like efFect as it originally names as trustee oras one of the trustees. 5.5 Remedies Cumulative. No remedy hereim contained or conferred upon the Lender or Trustee is intended to be exclusive of any other rairiedy or remedies afforded by law or by the terms hereof to'the' Lendei or Trustee but each and'every such remedy shall be cumulative and`shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equiry. 6. 1VIISCELLANEOUS.PROVISIOIVS 61 Successors,:Assigns, Gender, Number. The covenants and agreements contained in this-Deed of Triist shall"bind, and the benefit and advantages under it'shall inure to, the respective heirs; executors,'administrators, successors, and' assigns of the parties. Wherever used, the singularnumber shall include "the plural, and the plural the singular, and the use of any gender shall be applicable to all genders. 6.2 HeadinPS. The headings are inserted onlyfor convenience ofYeference and in no way define, limit, or describe the scope or intent of this Deed of Trust, or of any particular provision theieof, or-the propez cQnstruction thereof: 63 Actious on:Behalf of the Lender. Except as�otherwise specifically provided herein notice, direction,;consent, request or other action by the Lender is required' or permitted under:this Deed of Ti�ust, such action shall be in writing. 6.4, Terms. The words "the Lender" means the present Lendei, or any future owner or holder, including pledgee of the indebtedness secured hereby. 6:5 Obligations of.Borrower. If more than one person has"executed this Deed of Trust as "Borrower;"'the :obligations of all such persons hereunder shall be joint and several. 9 1552\03\7014603� 3n30 6.6 Incorporation.bv References. The,provisions of the BEGIN Program security�instrumants and the documents relatirigto'that ptogram are incorpo"rated by reference-as though;seYouf verbaCim. ' 6:7 Severability: If any provision of this Deed of.Trust shall be invalid, , illegal or unenforcea6le validity, legality and enforceability of theremaining provisions hereof shal] not in any way be affected or impaired. 6.8 Indemnification. Borrower will indemnify and hold the Lender, its officers and agents harmless against any and all losses, claims, demands, penalties and liabilities which the Lender, its officers or agents may sustain or suffei 6y reason of anything done or omitted in good fatth pursuant"to or--in connection with this Deed of TrusYand not assert any claim against the Lender, its officers oragents by reason of anyaction so taken or omitfed. Borrower shall, at Borrower's expense indemnify, saye and' hold the Lender� its officers and agents harmless from any-and'all claims, demands, losses, expenses, damages (general punitive or otherwise), causes of action (whether legal or•equitable in:nature) asserted by any person, firm, corpoiation or'otfier-entity aTising out of this Deed of Trust and Borrower shall pay the Lender upon demand all claims, judgments, damages, losses'or expenses (including reasonable legal expense),incuned bythe Lender as a result_of any legal action arising out of this Deed of Trust. 69 Notice. Except,for any notice required under applicable law to,be.given in another manner (a),.anynotice to Borrower provided for in this Deed of Trust shall be gi"ven.by mailing such notice by certified;mail directed to the Property Addres§ or any other addcess Barrower designates bynotice to Lender as provided herein; and, (b),any notice to Lender shall be given by certifie8 mail,retuin'receipt requested, to Lender's mailing address stated`herein or to such other address as Lender may designate by notice to Borrower asprovided herein. Any notice provided for in this Deed of Trust-shall deem to have been-given to Boi'rower or Lender when given:in the mannerdesignated herein. 610 �Beneficiac'v�Statemeut. Lender may collect a fee for fuinistung tb8 beneficiary�statement'in an amourit"not to exceed the amouritas'pYOVided by Section`2943' of tfle Civil Code of Califofnia. 6.11 Use of Propertvc Borrower shall not permit,or suffer the use of any of the Property for any purpose other than as a.single family residential dwelling. [Signatures on following page] 10 U52\03\7014h03 3�31 IN WITNESS WHEI2EOF, Borrower has:executed;this-Deed of TrusYon the day and year set forth a6ove. By signing below Borrower agrees to the terrns and condifions as set fofth above. MAILING ADDRESS FOR•NOTICES: SIGNATURE OF BORROWER(s): David L. and.Lydia M. Rose _ /J 12984�Choctaw Way By: �� L •/raR� Poway, California ' J '/n �� l , , � Qi (Print Name) By: ' �•. 1.��.r� � ��cse (Pri 'Name) Acknowledgements 1' 1 1552V03V7014603 � 3�32 STATF. OF CALIFORNIA ) � COUN"CY OP SA1V DIEGO ) �n����:�l�+Y�I'�..ZGt�.9 , before m� � , Notary�Public, personally app are ed e. „proved to me on the basis of satisfactory`evidence to tfie person(s) whose name( is re•subscribed to the within ' instrument and acknowledged to,me thaYh they executed the same in hi er heir authorized capaciry(ies), and that by hi_ e, heir signature(s) on tHe instrumenYthe°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.Califomia thaf the foregoing paragraph is true and correct. WITNESS my hand and officia6seal. PATTXN: 3MITH' COMM. !lt 746493 � � � NOTARYPUBUC•CAUfORNIA'� 9(W DIE40 CAUNTY f1 MyCanmissionEzpires � NotaryPu ic • JUNE 13, 2011 � .. � _ �wa� ATE OF CALIFORNIA ) ) � � COUNTY � AN DIEGO ) On ,.before me, , Notary Public personally appeared , proved to me on the basis of satisfactory evidence to:be;the.p__ n(s) whose name(s) is/are subscribed to the within instrument.and acknowledged do•me that: she/they executed the same'in his/her/their authorized:capacity(ies), and that by, fiis/her7t � sigriature(s) on the.instrumenYthe petson(s), or the entity up'on beHalf oP which the person(s) acted, ecuted tbe instrument. I certify UNDER PENALTY OF PERJiJRY under tfie laws he State of California that the foregoing paragraph_is true and•correct. WI7N�SS my hand and official seal. � � otary Public ' -�� �� /I�o �e�� �i��u�e�� � �,� ���H� ��o��n� ah . � IZ I 552V03 V 014603 . ' ,� _ _ ..,_ : ,. « . _ . ' � :ti -, . . , - i . . ., . . : • , ; . � CAI;IFORNIA AI,L PU�'OS�. � ;. CERTIFICATE� OF ACKN�WLED.GIVIENT 3 � 3 3 i � . .. � State of Califomia . � i f � . � County of ��? p � � ,����`�� �/ ��� �' O + ���' before�me . , �� � , (Here msert n. ne and titletif tlie fficer) � I personally appeared /l' ' � /i � whq proved to me on the basts of�satisfactory evidence to be the person(s) whose name(s e;subscribed;to � . ,. � . I the within instrument and ac wledged'to me that h sh ey executed the same in,h'�e heir authorized capaciTy(ies), and that by hi l�er�heir signature(s) on the inshliment the person(s), or the entity npon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of Califomia that the:foregoing paragraph � is h�ae and correct. � enrn N. s►,�n�r� � � COMM. #17450.93' n WITNESS my hand and offi ial seal. v o � m NOTARY PUBUGCAUFORNW y. � S�W DIEGO COUNTY n . � Mq'Commission Eiipires JUNE 73 2011 SignacureofNo Public � (1YotarySeal�� � ADDITIONAL OP'£IONAL INFORMATION � � DESCRIPTIO 'OF THE ATTACHED DOCUMENT � //LV� . (T¢le ur deScription af atlached�dceument) �('LiUe or description of attached document continiied) � I _ Number of Pages � Document Date�09 ���!•!i �ih�i f ���'�6�/ � - (Addiriona6.inEo ion) � � Ij 4 i ; CAIjA�ITY CLAIMEDBY Tf� SIGNER I . %� Individual (s) ❑ Corporate Officer. � � i I (Title) ❑ Partner(s) �I I � ❑ Attomey-in-Fact �I ; ❑ Trustee(s) � ❑ Other Ij �� � - i?I .. �2008.Veision. .. � - .� . . . , ;�!34 EXHIBIT "A" Leaal Description PARCEL 1 LOT 22 OF CITY OF POWAY TRACT NO. 06-06 THE MEADOWS, IN THE CITY OF POWAY, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, AS SHOWN BY MAP fJO. 15743, FICED IN THE OFFICE OF COUNTY RECORDER OF SAN DIEGO COUNTY, CALIFORNIA, ON MARCH 5, 2009.