Deed of Trust and Security Agreement 2010-0049803• .'RECOADEDAT THE REQUEST.& DOC# 2010 - 0049803
CHICAGO TITLE COMPANY
9�B:jIViS16N DEPT. (� S i III I III II VIII III II II IIII II I I I IIII I VIII II
COMPLIMENTARY RECORDING JAN 29, 2010 3:46 PM
REQUESTED PURSUANT TO OFFICIAL RECORDS
GOVERNMENT CODE SECTION 27383 SAN DIEGO COUNTY RECORDERS
OFFICE
DAVID L BUTLER, COUPlT1' R. CORDER RDER
FEES 000 WAYS 2
City of Poway DA ' t
1I 13325 Civic Center Drive PAGES: 13
jV Poway, CA 92064
Attn: Redevelopment Agency Housing Manager
DEED OF TRUST AND SECURITY AGREEMENT
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 Tr "):made this
2_. day of U6t , 2010, among the trustor, Alex and Patrici V ra o
( "Borrower "), whose addre s is 12982 Metate Lane, Poway, CA 92064, and Chicago Title
( "Trustee "), and 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: 12982 Metate Lane, Poway,
CA 92064 (the "Property ").
L 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 interest now held or hereafter acquired in
and to the following: (a) all of that certain real property (the "Property ") located at 12982
Metate Lane in the City of Poway, County of San Diego, State of California, which is more
particularly described in the attached Exhibit A which is incorporated herein by this reference;
and (b) all buildings, iinprovements 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 declared,to be part of the realty; provided, however, that furniture and other personal
property of Borrower now or hereafter situated on said real property are not intended to be
included as part of the Property.
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2. FOR THE PURPOSE OF SECURING 14600
2.1 Repayment of the indebtedness evidenced by that certain Promissory Note
of the, Borrower dated as of 0n0 [ 20 , to the benefit of the City of
Poway and entitled BEGIN:Program romissory Note (the "Note") of the Borrower in the
principal' Three Thousand Thirty -Five Dollars ($23,035) together with simple
interest,on such indebtedness according to the terms of the Note, 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 California BEGIN Program as set for the
in the and;Safety Code section 50860 et se q. and implementing guidelines adopted by the
California Department of Housing and Community Development, all of which are hereby
incorporated' by reference.
2.2 Payment of such additional sums, with interest thereon:
(a) As may hereafter be borrowed.from Lender by the then- record
owner of the Property and evidenced by a promissory note or, notes' recitingthat'it or they are so
secured and all modifications, extensions, or renewals of the Note; and
(b) As maybe incurred, paid, or advanced by Lender, or as may
otherwise be due to 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 otherwise be paid or advanced by Lender to protect the
security or priority of this Deed.of Trust.
2.3 Performance of each obligation, covenant; and agreement of Borrower
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 covenants to maintain and protect the security of this Deed of Trust, to
secure the "full and timely performance by Borrower 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, Borrower covenants 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 that Borrower will warrant and defend
generally the title of the Property against all claims and demands subject toany declarations,
easements, or restrictions liste8_ in the schedule of exemptions to coverage in any title insurance
policy insuring Lender's interest in the Property.
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3.2 Payment of Principal and.Interest That Borrower shall ,promptly pay,
when due, the principal and interest on the Note, and such other charges'as are provided in the
Note, and such other amounts as are provided under this Deed of Trust.
3.3 Maintenance of the Property (a) To keep, the Property in a decent, safe,
sanitary, tenantable condition and repair and permit no waste thereof, (b) not to commit or suffer
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
hereinafter located on the Property; (d) to repair, restore or rebuild promptly any buildings or
improvements,on the Property that may become damaged or be destroyed while subject to the
lien of this Deed of Trust; (e) to comply with all applicable, laws, ordinances and governmental
regulations affecting the Property or requiring any alteration or improvement thereof, and not to
suffer or permit any violations of any such law, ordinance or governmental regulation, nor of any
covenant, condition or restriction affecting the Property; (f) not to initiate or acquiesce irr any
change in any zoning or other land use or legal classification which affects any of the Property
without the Lender's written consent; and (g) not to alter the use of all or any part of the Property
without the prior written consent 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 expenses, 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 Payment of Taxes and Utility Charges Borrower shall pay, at feast ten
(10) days before delinquency all taxes and assessments affecting the Property, including
assessments on appurtenant water stock; when due, all encumbrances, charges and liens, fines
and impositions attributable.to the Property, leasehold payments or ground rents, if any, and any
interest on the Property or any part thereof, all costs, fees and,expenses of this trust. Borrower
shall make such payments when due, directly to the payee thereof. Borrower shall promptly
furnish to Lender all notices of 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,
against loss or damage by fire and,such other hazards, casualties and contingencies and by such
companies on such forms and in the amount of the replacement cost of the Property, and to
deliver the original of all such policies to the Lender, together with receipts satisfactory to the
Lender evidencing payment of the premiums. All such policies provide that the Lender shall be
given thirty (30) days advance written notice of the cancellation, expiration or, termination ofany
such policy or'any material change,in the coverage afforded by it. Renewal policies and any
replacement policies, together with premium receipts satisfactory to the Lender, shall 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 of such
insurance, or solvency of any insurer for payment of losses. All insurance proceeds for such
losses must be utilized for the repair or restoration of the insured property.
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3.7 Payments and Discharge of Liens Borrower will pay, when due, all
claims,of every kind and nature which might or could become a lien on,the, Property or any part
thereof, provided, however, that the following are.excepted_from this prohibition: (a) liens for
taxes and assessments which are not delinquent although by law are given the status of a lien,
and (b) such of the above claims as are, and only during the time they are, being contested by
Borrower, in good faith and by appropriate legal proceedings; and Borrower shall post security
for the payment of these contested claims as may be requested by the Lender. Borrower shall not
default in the payment or performance of any obligation secured by a lien, mortgage or deed of
trust which,is superior to this Deed of Trust.
3.8 Assumption of Loan Borrower acknowledges that this Note is given in
connection with the purchase of the Property as part of a program of the City of Poway to assist
in the purchase of homes by low and moderate income households. Consequently, the principal
and interest due under this Note are assumable only by (i) income - qualifying households as
approved by the City and (ii) only after 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. H below.
4. IT IS MUTUALLY AGREED THAT
4.1 Application of Payments Unless applicable law provides otherwise, all
payments received by Lender under the Note and Section 2.1 shall be applied by Lender first to
interest payable on the Note and then to,the principal due on the Note.
4.2 Future Advances Upon request by Borrower, Lender, at Lender's
option, may make future advances to Borrower. All such future advances, with interest thereon,
shall be added to and become:a part of the indebtedness secured by this Deed of Trust when
evidenced by promissory note(s) reciting that such note(s) are secured by this Deed of Trust.
4.3 Disbursements to Protect Lender's Security All sums disbursed,by
Lender to protect and preserve the Property, this Deed of Trust, 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 secured by this Deed of Trust.
4.4 Protection of Lender's Security If Borrower 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 involving a
bankrupt or decedent, foreclosure of any mortgage secured by the Property or sale of the
Property under a power of sale of any instrument secured by the Property, then Lender, at
Lender's option,,upon notice to Borrower, may make such appearance, disburse such sums and
lake such action as is necessary to protect Lender's interest, including, but not limited to,
disbursement of reasonable attorney's fees and entry upon the Property to make repairs.
Any amounts disbursed by Lender pursuant to this Section 4.4, with interest
thereon, shall become additional indebtedness of Borrower secured by this Deed of Trust.
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Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable
upon notice 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 reasonable
entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or
prior to any such inspection specifying reasonable cause for the inspection.
4.6 Awards aod`Damages All judgments, awards of damages, settlements
and compensation made in connection with or in lieu of (a) taking of all or any part of or any
interest in the Property by or under assertion of the power of eminent domain, (b) any damage.to
or destruction of the Property or any part thereof by insured.casualty, and (c) any other injury or
damage.to all or any part of>the Property, are hereby assigned to and shall be paid to the Lender.
The Lender is authorized and empowered (but not required) to collect receive any such sums
and is authorized to apply them in whole or in part upon any indebtedness or obligation secured
hereby, in such order and manner as the Lender shall determine at its option. The Lender shall
be entitled to settle and adjust all claims under insurance policies provided under this Deed of
Trust 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 adjustment. All or any part of the
amounts so collected and recovered by the Lender may be released to Borrower upon such
conditions as the Lender may impose for its disposition. Application of all or any part of the
amounts collected and received by the Lender or the release thereof shall not cure or waive any
default under this Deed of Trust. If the Property is abandoned by Borrower, or if, after notice by
Lender to Borrower that the condemnor offers to make an award or settle 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 collect.and apply the proceeds, at Lender's option, either to restoration or
repair of the Property or to the sum secured by this Deed of Trust.
4.7 Prohibition on Transfers of Interest With the exception of the transfers
permitted in Section 4.11 below, if all or any part of the Property or an interest therein is sold or
transferred by Borrower without Lender's prior written consent, Lender may„ at Lender's option,
declare all the sums secured by this Security 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 the date the notice is mailed within which Borrower may pay the sums declared due. If
borrower fails to pay such sums prior to the expiration of such period, Lender may, without
further notice or demand on Borrower, invoke any remedies permitted by Section 5.2(a) hereof.
4.8 Sale or Forbearance No sale of the Property, forbearances on the part of
the Lender or extension of the time for payment of the 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 The Lender's Rights to Release Without affecting the liability of any
person for payment of any indebtedness hereby secured (other than any person released pursuant
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hereto), including without limitation any one or more endorsers or=guarantors, and without
affecting the lien hereof upon any of the Property not released -pursuant hereto, at any time and
from time to time without notice: (a) The Lender may, at its;sole discretion, (i) release any
person now or hereafter liable for payment of any or all, such indebtedness. (ii) extend the time
for or agree to' alter the terms of payment of any or all of such indebtedness, and (iii) release or
accept additional security for such indebtedness, or subordinate the lien or charge hereof; and (b)
Trustee, acting pursuant to the•written request of the Lender,.may reconvey all or any part of the
Property, consent to the making of any map or plot thereof, join in granting any assessment
thereon, or join in any such agreement of extension or subordination.
4.10 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 indebtedness secured by this Security Instrument to
Trustee. Trustee shall reconvey the Property without warranty and without charge to the person
or persons legally entitled.there.to. Such person or persons shall pay all costs of recordation, if
any. The recitals in the reconveyance of any matters or facts shall be conclusive proof of the
truthfulness thereof.
4.11 Requirement of Owner - occupancy and.Permitted Transfers
Borrower shall occupy the Property 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 Note or this Deed of Trust
and shall not cause, acceleration of 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 the surviving joint tenant by devise,
descent or operation of the law, on the death of a joint tenant.
(c) A transfer of the Property where the spouse becomes an owner of
the Property;
(d) A transfer of the Property resulting from a decree of dissolution of
marriage or domestic partnership, legal separation or from an incidental property settlement
agreement by which the spouse or domestic partner becomes an owner of the Property.
(e) A transfer by Borrower to an inter vivos trust in which the
Borrower is and remains the sole beneficiary and Borrower continues to occupy the Property.
4.12 Subordination Notwithstanding any other provision hereof, the
provisions of this Deed of Trust shall be subordinate to the lien of Bank of America (the "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 remedies under
the Senior Lender Deed of Trust include the right of foreclosure or acceptance of a deed or
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assignment in lieu of foreclosure. After such foreclosure or acceptance of a deed or assignment
in lieu of foreclosure, this,Deed.of Trust shall be forever terminated and,s hall have no further
effect as to the Property or any transferee thereafter; provided, however, if the holder of such
Senior Lender Deed of Trust acquires title to the Property pursuant to a deed or assignment in
lieu of foreclosure, this Deed of Trust shall automatically terminate upon such acquisition of
title, only if either a notice of default was recorded under the applicable Senior Lender Deed of
Trust or, if no notice of default was recorded, (i) the Borrower has been given written notice of
default under such Senior Lender Deed of Trust (which requirement may be satisfied by
recordation of a notice of default under California Civil Code Section 2924), (ii) the.Lender has
been provided with written notice of Borrower's default, provided Lender records a request for
notice under Civil Code Section 2924b, and (iii) Borrower or its designee shall not have cured
the default within sixty (60) days'of such notice. As used in this Deed of Trust, Senior,Lender
Deed of Trust shall mean the deed or deeds of trust securing the loan or loans from the Senior
Lender to Borrower.
5. EVENTS OF DEFAULT
5.1 Events of Default Any one or more of the following events shall
constitute a default under this Deed of Trust (a) failure of the Borrower 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 acceleration or otherwise; or (b)
failure of Borrower to observe'or to perform any covenant condition or agreement to be observed
or performed by Borrower pursuant to the Note or this Deed of Trust including but not limited to
the occupancy of property by Borrower provision; or (c) the occurrence of any event which,
under the terms of the Note, shall entitle the Lender to exercise the rights or remedies thereunder;
or (d) the occurrence 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 Acceleration and Sale
(a) Acceleration 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 perform any of its obligations, covenants and agreements pursuant to the Note,
Lender shall mail notice to Borrower as provided in Section 6.9 hereof specifying: (i) the breach;
(ii) the action required 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 Trust and sale of the Property. 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 date specified 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 the power of sale and any other remedies permitted by applicable law.
Lender shall, be entitled to collect from the Borrower, or sale proceeds, if any, all reasonable
costs and expenses incurred in pursuing the remedies provided in this paragraph, including, but
not limited to, reasonable attorney's fees.
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(b) . Borrower's Right to'R'einstaie Notwithstanding Lender's
acceleration of -the sums secured by this Deed of Trust, Borrower will have the right to have any
proceedings, begun by, Lender to enforce this Deed of Trust disconti nued at any time priorto five
(5) days before.sale of the Property pursuant the power of.sale contained in this Deed of Trust
or -at any time prior torentry of the judgment enforcing this Deed of.Trust if: (i)'Borrower pays
Lender all sums which would be!then' due under this Deed of Trust and the Note, had no
acceleration occurred; (ii) Borrower pays all reasonable expenses incurred by Lender and Trustee
in enforcing,the and agreements of Borrower contained in this Deed of Trust,
remedies including, but noflimited to, reasonable attorneys' fees; and (iii) Borrower takes such
action as Lender may - reasonably require to assure that the lien of this Deed of Trust, Lender's
interest in the Property and Borrower's obligation to pay the sums secured by this Deed of Trust
shall continue unimpaired. Upon such payment and cure by Borrower, this Deed of Trust and
the obligations secured hereby will remain in full force and effect as if no acceleration had
occurred.
(c) Sale. After delivery to Trustee of a Notice of Default .and - Demand
for Sale and after the expiration of such time and the giving of suchnotice of default and sale as
,may then be required by law, and without demand on Borrower Trustee shall sell the Property at
the 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 the United States of America, payable at time of sale: Trustee:may
postpone sale ofall or any portion of the Property by public announcement at such time and
place of sale and from time to. time thereafter may postpone such sale by public announcement at
the time and place fixed by the preceding postponement. Any person, including Borrower;
Trustee or the Lender, may purchase at such sale. Upon such sale, by Trustee it shall deliver to
such purchaser its deed conveying the Property so sold, but without any covenant or warranty
exp"res"sed m4mplied. The recitals in such deed of any matters or facts shall be conclusive proof
of their truthfulness. Upon sale by Trustee and after deducting all costs, expenses and fees of
Trustee and of this Deed of Trust,'Trustee.shall apply the proceeds of sale to the payment of the
principal. indebtedness hereby secured, whether evidenced by the Note or otherwise, or
representing advances made or costs or expenses paid or incurred by the Lender under this Deed
of Trust, or the secured obligations or any other instrument evidencing or securing any
indebtedness hereby secured and to the payment of all other sums then secured thereby,
including interest as provided in thi Deed of Trust, the secured obligations or any other 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) Assignment of Rents; Appointment of Receiver; Lender in
Possession Upon acceleration under Section 52(a) hereof or abandonment of the Property,
Lender (in person; by agent or by judicially appointed receiver) shall' be entitled to enter upon,
take possession of and manage the Property and to collectAhe rents of the Property (if any)
including those past due. All rents collected by Lender or the Receiver shall be applied first to
payment of the costs of management 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 shalt be liable to
account only forthose rents actually received. The provisions of this paragraph and Section
5.2(a) shall operate subject to the claims of prior lien holders.
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5.3 Exercise of Remedies; Delay. No exercise'of any right or remedyl the r
Lender or Trustee hereunder shall constitute a waiver of any other-right or remedy herein
contained or provided by law,;and no delay by the Lender or Trustee in exercising :anysuch right
or remedy hereunder shall operate as a waiver thereof or preclude the exercise thereof during the
continuance of any default hereunder.
,5.4 Trustee , The irrevocable power to appoint a substitute
trustee or trustees hereunder, is, hereby expressly granted to the Lender, to be exercised at any
time hereafter without, specifying any 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 often as and whenever the Lendendeems
advisable. The exercise of "said -power of appointment, no matter how often, shall not be deemed
awexhaustion thereof, and upon "recording:of such deed or deeds of appointment; the or
trustees so appointed, shall. thereupon, without further act or'deed of conveyance, succeed to and
becomeTully 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 effe vas if originally names as trustee or as one of the trustees.
5.5 Remedies Cumulative No remedyherein contained or conferred upon
the Lender or Trustee is intended to'be exclusive of any other remedy or remedies afforded by
law or by the terms hereof to - the Lender or Trustee but each and every such remedy shall be
cumulative and shalfbe in addition to every other remedy given' hereunder or now or hereafter
existing at law or in equity.
6. MISCELLANEOUS PROVISIONS
6.1 Successors, Assigns, Gender, Number The covenants and agreements
contained in this Deed of Trust 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 singular number shall include the plural, and the plural the singular, and the use of any
gender shall be applicable to all genders.
6.2 Headings The headings are inserted only for convenience of reference
and in noway define, hinit, or describe the scope or intent of this Deed of Trust, or of any
particular provision thereof, or the.proper construction thereof.
6.3 Actions on Behalf of the Lender Except as otherwise specifically
provided herein, whenever approval, notice; direction, consent, request, or other action by the
Lender is required or permitted under this Deed of Trust, such action shall be in writing.
6.4 Terms The words "the Lender” means the present Lender, 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.
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6.6 Incorporation by References The provisions of the BEGIN Program
security instruments and the documents relating to that program are incorporated by reference as
though set out verbatim.
6.7 Severabilitv If any provision of this Deed of Trust shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
hereof shall not in any way be affected or impaired.
6.8 Indemnifieation 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 suffer by reason anything done or
omitted in good faith pursuant to or in connection with this Deed of Trust and not assert any
claim against the Lender, its officers or agents by reason of any action so taken or omitted.
Borrower shall, at Borrower's expense, defend, indemnify, save.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, corporation or other entity arising 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) incurred by the Lender as a result.of any legal action arising out of this
Deed of Trust.
6.9 Notice Except for any notice required under applicable law to be given in
another manner (a) any notice to Borrower provided for in this Deed of Trust shall be given by
mailing such notice by certified,mail directed to the Property Address or any other address
Borrower designates by notice to Lender as provided herein; and, (b) any notice to Lender shall
be given by certified mail, return receipt requested, to Lender's mailing address stated herein or
to such other address as Lender may designate by notice to Borrower as provided herein. Any
notice provided for in this Deed.of Trust shall deem to have been given to Borrower or Lender
when given in the manner designated herein.
6.10 Beneficiarv'Statement Lender may collect a fee for furnishing the
beneficiary statement in an amount not to exceed the amount as provided by Section 2943 of the
Civil Code of California.
6.11 Use of Property 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
1552 \03 \701460 3
14699
IN WITNESS WHEREOF, Borrower has executed.this Deed of Trust on the day and
year set forth above. By signing,below, Borrower agrees to the terms and conditions as set forth
above.
MAILING ADDRESS FOR NOTICES:
SkBr*�p
Alex and Patricia Alvarado
12982 Metate Lane
Poway, California, 92064
SIGNATURE OF BORROWER(s):
By: ,.�
)Vex
(Print Name)
<.>o � 4 ..t �� r • �.
(Print Name)
Acknowledgements
1552 \03 \7014603
14610
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
On _�IZV
personally
Notary Public,
proved to me on the basis
of satisfactory evidence to be the person(s whose name( pre subscrib the within
instrument and acknowledged to me thane /they executed the same n his er /their
authorized capacity(ies), and that by 1i er /their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.
I certify UNDER PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
PATTY N. SMITH
NOTARY #1745493
° ®� NOTARY PUBUC•CAUFORNIA y
SAN DIEGO COUNTY n
My Commission Expires Notar Pub
JUNE 13, 2011 Y
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
On si 7010 before me, .<::::�:?oW , Notary Public,
personally app ed W15yelye J � atldh //�2?i�t�� , prove to me on the basis
of satisfactory evidence to be the person(s) whose name( re subscribed to the within
instrument and acknowledged to me that he e hey executed the same in hi /her/ heir
authorized capacity(ies), and that by his er eir signature(s) on the instrument the person(s), or
the entity upon behalf of which the person s) acted, executed the instrument.
I certify UNDER PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
WITNESS my hand and official seal.
PATTY N. SMITH
COMM. #1745493
y' NOTARYPUBUC- CAUR]RNIAc
SAN DIEGO COUNTY 0 Notary Pu
MyComniiss nExpires
-
JUNE 13, 2011
12
1552MN701460.3
. , I • Order No.:PS1751027 -UI2
LEGAL DESCRIPTION 14 611
LOT 27 OF CITY OF POWAY TRACT NO. 06 -06 THE MEADOWS, IN THE CITY OF POWAY,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO.
15743 FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY MARCH
5, 2009.
END OF LEGAL DESCRIPTION
END OF LEGAL DESCRIPTION
CLTA Preliminary Report Fonn -Modified (11 -17 -06)
Page 3