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0308-360 (AR)LICENSED CONTRACTOR DECLARATION I hereby affirm under penalty of perjury that I am licensed under provisions of Chapter 9 (commencing with Section 7000) of Division 3 of the Business and Professionals Code, and my License is in full force and effect. /License # Lic. Class Exp. Dater ✓ i'443 a B 0IJ311.€ Date �3 Signature of Contractor OWNER -BUILDER DECLARATION I hereby affirm under penalty of perjury that I am exempt from the Contractor's License Law for the following reason: ( ) I, as owner of the property, or my employees with wages as their sole compensation, will do the work, and the structure is not intended or offered for sale (Sec. 7044, Business & Professionals Code). ( ) I, as owner of the property, am exclusively contracting with licensed contractors to construct the project (Sec. 7044, Business & Professionals Code). () I am exempt under Section B&P.C. for this reason Date Sianature of Owner WORKER'S COMPENSATION DECLARATION I hereby affirm under penalty of perjury one of the following declarations: ( ) I have and will maintain a certificate of consent to self -insure for workers' compensation, as provided for by Section 3700 of the Labor Code, for the performance of the work for which this permit is issued. ( ) I have and will maintain workers' compensation insurance, as required by Section 3700 of the Labor Code, for the performance of the work for which this permit is issued. My workers' compensation insurance carrier & policy no. are: Carrier .EXL?.MpT Policy No. (This section need not be completed if the permit valuation is for $100.00 or less). ( ) I certify that in the performance of the work for which this permit is issued, I shall not employ any person in any manner so as to become subject to the workers' compensation laws of California, and agree that if I should become ,subject to the workers' compensation provisi'ons of Section 3700 of the Labor Code, I shall fo with comply with . thosqV5 koras , Date: 1IrZG 4f� Applicant— Warning: pplicant Warning: Failure to secure Workers' Compensation coverage is unlawful and shall subject an employer to criminal penalties and civil fines up to $100,000, in addition to the cost of compensation, damages as provided for in Section 3706 of the Labor Code, interest and attorney's fees. IMPORTANT Application is hereby made to the Director of Building and Safety for a permit subject to the conditions and restrictions set forth on his application. 1. Each person upon whose behalf this application is made & each person at whose request and for whose benefit work is performed under or pursuant to any permit issued as a result of this applicaton agrees to, & shall, indemnify & hold harmless the City of La Quinta, its officers, agents and employees. 2. Any permit issued as a result of this application becomes null and void if work is not commenced within 180 days from date of issuance of such permit, or cessation of work for 180 days will subject permit to cancellation. I certify that I have read this application and state that the above information is correct!I agree to comply with all City, and State laws relating to the building co�,nsiruction, and hereby authori .efrepresentatives of this City to enter upon the above-mentioned property fo Inspection purposes. Signature (Owner/Agent) -f �di �� Date BUILDING PERMIT--.'- PERMIT# 0368-360DATE j , VALUATION LOT TRACT / $.31 � 49M - -62 23154 G JOB SITE / ADDRESS — APN SadVYAVKN'rA,'gA. ' 646-«3'2".34`i OWNER CONTRACTOR / DESIGNER / EN (NEER 'R:US r & P.M ALDRICH NFXr SIM CO1 'RiJC1710:14 78.810 V'IAWNT.ANA� ''CA. 4458th i�'.ERBR A LKQUI3TA 92253 LAQUWTA CA 92253 (760)275•'1889 CBL#1 USE OF PERMIT F�.'vZL7:r�t�l f% ✓ .DDIF1ON 4IDS SY, DETACHED CAS11VA �f. CUSTOM COINS 3?.UCTION 40.00 SP NSTIM+!,t'? COST OF CO1` YMtiCHC3N CONS#rMCIfION Wit? 101-00 0-418-000 $20,50 P3 IKU CHECK rFV? 1031-000-430.218 $249AB . fdii.CIiANIC.�,1:1+E1s 101-000-121-000 $39.30 =CTIZIc°AJ,1" I 1: 1.-t3€?ti?�4:2G-0QL3 $4,768 PI.LI 1SM0 ir'"WE ` 3 01 n000-4190000 $61.58 A14D PI AN ��II: N IK $696.06 o� a IMS PRF. -PAW , �. a $0100 2Q03 AL x��.� MIT -VI DM NOW tri:ray . NOV.2 6 . CITY OF LA QUINTA RECEIPT DATE / BY DATE IN ED INSPECTO LVA INSPECTION RECORD OPERATION DATE INSPECTOR OPERATION DATE INSPECTOR BUILDING APPROVALS MECHANICAL APPROVALS Set Backs Underground Ducts Forms & Footings — Ducts Slab Grade Return Air Steel - Combustion Air Roof Deck Gf _ Exhaust Fans O.K. to Wrap F.A.U. Framing _ — y Compressor Insulation — Vents Fireplace P.L. Grills Fireplace T.O. Fans & Controls Party Wall Insulation Condensate Lines Party Wall Firewall Exterior Lath — Drywall - Int. Lath Final F,G o Z Final > y BLOCKWALL APPROVALS POOLS - SPAS steel Set Backs Electric Bond Footings Main Drain Bond Beam Approval to Cover Equipment Location Underground Electric Underground Plbg. Test Final Gas Piping PLUMBING APPROVALS Gas Test Electric Final Waste Lines Heater Final Water Piping Plumbing'Final Plumbing Top Out Equipment Enclosure Shower Pans O.K. for Finish Plaster Sewer Lateral Pool Cover Sewer Connection Encapsulation - Gas Piping Gas Test Appliances Final Final Utility Notice (Gas) ELECTRICAL APPROVALS Temp. Power Pole Underground Conduit Rough Wiring .. z Low Voltage Wiring Fixtures Main Service Sub Panels Exterior Receptacles G.F.I. Smoke Detectors Temp. Use of Power Final44 Utility Notice (Perm) — COMMENTS: i _ - Recgr tng Kequeesfed y (3I`JAL 'T'I'LE CO i1i�A3+17 WELLS FARGO HOME MORTGAGE,'INC., Return To: WELLS FARGO HOME MORTGAGE,.INC. 3601 MINNESOTA DR. SUITE 200 BLOOMINGTON, MN 55435 i • 1 Prepared By:. WELLS FARGO HOME MORTGAGE, INC. 16855 WEST BERNARDO DR, SUITS i 105, SAN DIEGO; CA 921270000 [Space Above This Line 1 DOC a 2000-52249 i 12/29/2000 08:00A Fee:80.00 Page 1 of 25 Recorded In Official Records County of Riverside Gary L. Orso Assessor, County Clerk 8 Recorder I M S U PAGE SIZE DA POOR NOCOR SMF MISC. A R COPY LONG REFUND NCNG EXAM DEED OF TRUST Z413 1 -� JB DEFINITIONS Words used in multiple .sections of this document are defined below and other words are defined in Sections 11, 13, 18, 20 16. ' .and 21. Certain rules regarding the usage of words used in this document are also providid ed in Section 16 (A) "Security Instrument" means this document, which is dated,DECEMBER 21, 2000 together with all Riders to this document. (B) "Borrower" is RUSSELL B. ALDRICH AND PAMELA A. MCCANN—ALDRICH, HUSBAND AND WIFE AS A JOINT TENANT Borrower is the trustor under this Security Instrument. (C) "Lender" is WELLS FARGO HOME MORTGAGE, INC. Lender is a CORPORATION organized and existing under the laws of THE STATS OF CALIFORNIA CALIFORNIA -Single Family -Fannie M reddle Mac UNIFORM INSTRUMENT ' Form` $005 1/01 M.-65(CA) *005). Page 1 of Is TnItlela: VMP MORTGAGE FORMS • 18001521 m*7291 IIIIIIIII IIII IIIIIIIIIIIIIIIIII II Lender's address is P.O. BOX 5137, DES MOINES, IA 503065137 Lender is the beneficiary under this Security Instrument. (D). "Trustee" is WELLS FARGO HOME MORTGAGE, . INC (E) "Note" means the promissory note signed by Borrower and dated DECEMBER 21, 2000 The Note states that Borrower owes Lender THREE HUNDRED. EIGHT THOUSAND AND 00/100. Dollars (U.S. $ -*-*308, 000.0 0 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than JANUARY 01, 2031 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders. to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: ® Adjustable Rate Rider 0 Condominium Rider ® Second Home Rider El Balloon Rider ® Planned Unit Development Rider 0 14 Family Rider El VA Rider 0 Biweekly Payment Rider Other(s) [specify] (1) "Applicable Law" means all controlling applicable federal, state and local.. statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable. final, non -appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (I) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated . clearinghouse transfers. (L) "Escrow Items" means those 'items that are described in Section 3. (1Q :"Miscellaneous Proceeds" means any compensation,, settlement, award of damages,. or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions .as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,. the Loan. (0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restricts that are imposed in regard Initials: - (M 6(CA) (0005) Page 2 or 15 Form 3005 1/01' i 11111uimi .�°n0:�;;:�. to a "federally related mortgage loan" ,even if -the Loan does not 'qualify as a "federally. related mortgage loan" under RESPA. _ :(Q) "Successor. in Inte est'of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note "and%or this Security Instrument. • . TRANSFER OF RIGHTS IN THEPROPERTY. �• •.This Security Instrument secures to Lender.: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; -and (ii) the performance of Borrower's'covenants and, agreements under this Security Instrument and;' the' Note: For this -purpose, Borrower irrevocably grants and _conveys to Trustee, in trust, with 'ower of-' sale,, the following ''described= property located in the COUNTY ofMADERA [Type.of Recording Jurisdiction] =[Name of Recording, Jurisdiction] , LEGAL DESCRIPTION `ATTACHED,.HERETO_AND'MADE.A PART HEREOF. . APN.#646-323-0152 *SSE ADJUSTABLE RATE RIDER I. THIS IS A PURCHASE MONEY SECURITY INSTRIII�NT. Parcel ID Number. R + 'J which currently has the address of 78830 VIA VENTANA• STREET., :' " [Street] LA-QUINTA i y - 1CitYl, California 92253 [Zip Code] ("Property Address r. »; TOGETHER WITH all the improvements }now or hereafter erected on ;the property,, and all'. easements, appurtenances, and fixtures � now or hereafter a , part of the property. All replacements and additions shall also be . covered by this Security • Instrument . All 4 of - the foregoing is referred to in , this Security Instrumentas the "Property.."..r N ; BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and' convey the Property and that the Property is unencumbered, except for encumbrances of record. "Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. , THIS SECURITY INSTRUMENT I combinesuniform covenants for national use and non-uniform covenants with limited variations by. Jurisdiction., constitute' a uniform security instrument covering real , property. , UNIFORM COVENANTS. Borrower and Lender covenant'' and '':agree as. follows: 1. Payment, of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when :due the principal of, and interest on, the debt evidenced" by the Note and .any y prepayment charges and late charges due under the Note. Borrower; shall als ay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security hwiment shall ;be made in'U.S. S G " Initials �-6(CA) loo651 - } "Page 3 of 15 "=1. Form 3005 1/01 . s„ a �I I IIIIII IIIIIII IIII IIIII IIIII IIIIII IIIIII III IIID IIII IIII 2e0&-522491 C1of2S0ttf9/r R3 " currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,. Lender may require that any or all subsequent payments due under the Note and this Security. -Instrument be made in one or .more of the following forms, as selected by Lender: (a) cash; (b). money order; (c) certified check, . bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution, whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the. Note or at such other location as may be .designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments .are accepted. If each Periodic` Payment is applied as of its scheduled due date,_ then Lender need not pay interest on unapplied, funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such 'funds will be applied to the. outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim ,which- Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of. Payments or Proceeds.* Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order. of priority:: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments. shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges; second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note: If Lender receives a payment from Borrower for a delinquent `Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that .any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment -charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous. Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Finds for Escrow Items. Borrower shall pay to. Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and.other items which can attain priority over this Security Instrument as a lien or encumbrance `on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage. Insurancepremiums in accordance with the provisions of Section. 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such. dues, . fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall 'pay Lender the Funds for Escrow' Items unless Lender waives Borrower's obligation to; pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any, or all Escrow Items at any time: y such waiver may only be- Initia 4 -6(CA) I0005l Page a or 15 Form .3005 1101, ININWItlIIIIIIflN�l�ll!I�I�IIIIIIINIIINIuI ==m°•�'.°'mA 10 in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender. receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant.and agreement contained' in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated .to pay Escrow Items directly, pursuant t'o a waiver,' and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such. amount and Borrower shall -then be. obligated`under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as. to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect .and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under. RESPA' and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditure's of future Escrow Items or otherwise in :accordance with Applicable Law. The .Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity. (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, . annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest.to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds.. Borrower. and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall -give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If 'there is a surplus of Funds .held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held -in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a'deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any. Funds held by Lender. 4. Charges; Liens. Borrower, shall payall taxes, assessments, charges, fines, and impositions attributable, to the Property which canattain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property -is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the ' Initial (M 6(CA) (0005) Page 5 of 15 Form 3005 1/01 111111111111nlullllllllllllll!JIIIIIR ��`°of ':"•w lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for 'a real estate tax' verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shallkeep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term."extended coverage," and any* other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the .periods that Lender requires. What Lender requires pursuant to the preceding sentences .can change during the term of the Loan. The insurance carrier providing the insurance shall.be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall 'not be exercised unreasonably. Lender may require Borrower to, pay; in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the . payment of any fees ° imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of. the coveragesdescribed above, Lender may obtain ,insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property,. or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might .significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by. Lender under this Section 5 shall become additional debt of Borrower secured, by this Security Instrument. These amounts shall bear interest at the Note rate from the date of 'disbursement and shall be payable, with such interest, upon notice from. Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be, subject to Lender's -right to disapprove such policies, shall . include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee . and Borrower further agrees to generally assign rights to insurance proceeds to the holder of the Note up to the amount of the outstanding loan balance. Lender.shall . have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal' notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for'damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee and Borrower further agrees to generally assign rights to insurance proceeds to the holder of the Note up to the amount of the outstanding loan balance. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender. may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was Irequired by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically. feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments. as the work is completed. Unless an agreement is made in writing or Applicable Law . requires. interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees. for public adjusters, or other third parties,. retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then.due, with AAA .. Initial - .. (Mm 6(CA) 100051 Page 6 of 15 Form 3005 1/01 III@IIIIIIIIIIIIIII�IIIIIInIIIIIIIWII�IIIIIli111111 12/29/2000 06: the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance. claim and related matters. If Borrower does not respond within 30 days -to a notice from Lender that the insurance carrier has offered to settle a claim; then Lender may negotiate and settle the claim. The 30 -day period will begin. when the notice is given. In either event, or if Lender acquires the Property .under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts. unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other. than the right to any refund of unearned premiums paid by Borrower). under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under -the Note. or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, 'and use the Property as Borrower's principal residence within 60 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 Lender otherwise agrees in writing, which consent shall not'be unreasonably withheld, or .unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of. the Property; Inspections. Borrower shall not destroy; damage or impair the Property, allow the . Property. to deteriorate or commit waste on. the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or .restoration .is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such. purposes.. Lender may disburse proceeds for the repairs. and restoration in a single payment or in a series of progress payments as the work is completed. If'.the insurance or condemnation proceeds are not sufficient - to repair or restore the Property, Borrower is not relieved of Borrower's obligation. for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give . Borrower notice at the time of or prior to such an. interior inspection specifying such reasonable cause. 8.. Borrower's Loan Application. Borrower shall be in . default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false; misleading, or inaccurate information or statements to Lender' . ' (or failed .to provide Lender with material information) in connection with the Loan. Material representations include, but `are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as * a proceeding in bankruptcy, probate, for condemnation .or forfeiture, for enforcement of a lien which may .attain priority over this' SecurityInstrument or to enforce laws or regulations), or (c) Borrower: has' abandoned the Property, then Lender may do and pay for whatever is reasonable. or appropriate to protect Lender's interest; in the Property and rights under. this Security Instrument, including protecting and/or assessing- the value of the Property, and securing and/or repairing the Property. Lender's actions can include; but are not limited to: (a) paying any sums secured -by a lien which has priority over this Security Instrument; (b) appearing_ in co d (c) paying reasonable 4= 6(CA) (0005) - Pace 7 of is Form 3005 1/01 'i IInIII�IVnIIIIBIIIIUIIIIIIIIInnIdIUIIIIIINII =n��m'�a'„,A attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding.. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows; drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all.. actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from bender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the.provisions of the lease: If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless. Lender agrees to the merger in writing. 10: Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect..If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance; Borrower shall pay the premiums required .to obtain coverage substantially equivalent to the. Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of - the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage .is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect.: Lender will accept, use and. retain these payments as a non-refundable .loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and'Lender shall not be . required to pay Borrower any interest or earnings. on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums- for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage' Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation.to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if ' Borrower doesnot repay the Loan as agreed. Borrower is not a party. to the Mortgage Insurance.*. Mortgage insurers evaluate their total risk on all such insurance in force from time to time,. and may enter into agreementsmith other parties that share or modify. their risk, or reduce losses. These agreements. are on terms and conditions that are satisfactory. to the mortgage' insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result .of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer; any other -entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or.might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses: If .such agreement provides that an affiliate of Lender .takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: ' (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of. the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borr wer to any refund. Initia s• D� ` (M 6(CA) (0005) Page a or 15 Form 3005 1/01 IN�PIIIII�uI�MIIIIIInI�InVIA�!'MINI =�w=e;=�'m• (b) Any such agreements will1 not affect the rights Borrower has if any - with respect to the. Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive. certain disclosures, to request and obtain cancellation of the Mortgage. Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at. the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged; such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration -or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an .opportunity to inspect such Property to .ensure the work has been completed: to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs . and restoration in. a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in.writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings .on such Miscellaneous ProceedsIf the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess,. if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking,. destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in .value is equal to or greater than the amount of the.sums secured by this Security Instrument immediately before the partial, taking; destruction, or loss in value, unless Borrower and Lender otherwise agree: in writing, the sums secured by this Security. Instrument shall be reduced by the amount of the Miscellaneous Proceeds. multiplied by the following fraction: (a) the, total 'amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the. fair market value of the Property immediately - before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss to value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less. than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender. otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security. Instrument whether or not the sums are then due. If. the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined.in the next sentence) offers to make an award to settle a.claim for damages; Borrower fails'to respond to Lender within 30 days after the date the notice is given, Lender is authorized -to collect and apply the Miscellaneous Proceeds eitherto restoration or repair of the Property. or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. . Borrower shall be in default if any -action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure'such a default and,, if acceleration has occurred, reinstate as provided in Section 19; by causing the action or proceeding to be dismissed with a ruling that, inLender's judgment, precludes -forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are . not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2: 12. Borrower Not - Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security trument granted by Lender, - Initials: 0 -6(CA) (000s) Page 9'of is Form 3005 1/01 m IIIIII IIIIII IIII VIII VIII IIIIII IIIIII III IIID IIII IIII 12/29/2000�f 951d0F 9 to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to 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 any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy. including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is .co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Propertyunder the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by. this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations :with regard to the terms of this Security Instrument or the .Note without the . co-signer's consent. Subject to the provisions of Section 18, any Successor.. in Interest .of Borrower. who assumes Borrower's obligations under this Security. Instrument in writing, and is approved by Lender, shall .obtain all of Borrower's rights and benefits under, this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except . as provided in Section 20) and benefit the successors and assigns of Lender. . 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with.. Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to,. attorneys'. fees, property inspection and .valuation fees. In regard to any. other fees, the absence of express authority in this Security Instrument to charge a specific . fee to Borrower shall not be construed.as a prohibition.on the charging of such fee. Lender may not charge -fees. that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or.to be collected in connection with the Loan exceed the permitted limits, then: (a) any such Than charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits. will be refunded to Borrower. Lender may choose to make this refund by reducing.,the principal owed under the Note or 'by making a direct payment to Borrower. If a refund 'reduces principal, the reduction will be treated as a. partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such .refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge: .15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any noticeto Borrower in connection with this Security Instrument shall -be deemed to have been given to Borrower when mailed by first class mail or when actually delivered -to _Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers . unless Applicable Law expressly .requires otherwise. The notice address shall be the Property Address. unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly. notify Lender of Borrower's change of address.. If Lender specifies a procedure for reporting Borrower's. change of address, then Borrower shall only report a change of address through that specified. procedure. There may be only. one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein .unless Lender has : designated another. address by notice to Borrower.. Any notice in- c n connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any. notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy. the corresponding requirement under this Security Instrument. r Initials: -6(CA) (0005) Page 10 ot.1 s - Form 3005 1/01 IIIIIII I I 2000-52249.1 IIIIII II I VIII VIII IIIIII IIIIII III IIIIii 111 llll I �r2�+�i a of 25 aF 16. Governing Law; Severability;' Rules of Construction. This Security Instrument shall be governed by federal law and the lawof the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable. Law. Applicable Law might explicitly or implicitly allow the parties to agree by. contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract: In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision.. As used in this Security Instrument: (a) words, of the masculine gender shall mean"and include corresponding neuter..words or words of the feminine gender; (b) words in. the singular shall mean and include the plural and vice versa; .and (c) the word "may" gives sole discretion without any obligation to. take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property ora Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which -is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the. Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower. is sold or transferred) without Lender's prior. written consent, Lender may require immediate payment' in full of all sums secured by this Security. Instrument. However; this option shall, not be exercised by Lender if such exercise is. prohibited by Applicable Law. If Lender exercises this . option, Lender shall give' Borrower notice of acceleration. The notice shall provide a period of not less than 30 daysfrom the date the notice is given in accordance with Section 15 Within which Borrower must pay. all ' sums secured by this Security Instrument, If Borrower fails to pay, these sums prior to the expiration of this period, Lender , may invoke any remedies permitted by. this . Security Instrument without further notice or demand; on Borrower. 19. Borrower's Right to Reinstate. After Acceleration. If .Borrower meets certain conditions, Borrower shall have the . right to have enforcement of this Security. Instrument discontinued at any time prior to the earliest of. -.(a) five days before sale' of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the .termination of . Borrower's right to'reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then . would be due under this Security instrument and the Note as if no acceleration had occurred; (b) cures any default of any other_ covenants or agreements; (c). pays all expenses incurred in enforcing this Security. Instrument, including,. but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for.the - purpose of protecting Lender's interest in the Property and rights .under this Security Instrument; and (d) takes such. action as Lender. may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged: Lender,may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check.is drawn upon an institution whose deposits are insured :by a federal agency, "instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security: Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right :to reinstate shall not - apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to- ' Borrower. A sale might result in'a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and. this Security Instrument and performs other mortgage loan servicing obligations under. the Note, this Security Instrument, and Applicable Law. There. also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there, is a change of the Loan Servicer, Borrower will be given written.notice of the change which will state the name and address of the new Loan Servicer, the address to ,which .payments, should be made and�# other information RESPA " Initials:- -6(CA) nitials:-6(CA) (0005) Page 11 •or 15 Form 3005 1/01 I 1111111 1111111 IIII IIIII IIIILIIIIII 111111 III 111111 SII IIII za" 2I �2£ 2se�J� requires in connection with a "notice of transfer of servicing. If the Note"is sold and thereafter the Loan is serviced by a Loan Servicer ,other than the purchaser of the Note, the mortgage loan servicing obligations . to Borrower will remain with the Loan Servicer -or be transferred to.a successor Loan Servicer.and are not assumed by the Note purchaser unless "otherwise provided by the Note purchaser. Neither Borrower nor'. Lender may. commence, join, or be.joined to any judicial action (as either an individual litigant or the member of a class) that-'arises'from.the other party's, actions pursuant to this Security Instrument.or:that alleges that the other party has breached any provision of, or any, duty. owed by reason of, this Security, Instrument, until such.Borrower or Lender -has notified the other party (with such - notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the , other party hereto a reasonable period after: the giving of such notice_ to take corrective action. If , Applicable Law provides a time period which must elapse before certain action can be taken, that time . period. will -be. deemed to be. -reasonable for purposes of: this, paragraph.. The notice of *acceleration, and. opportunity, to -cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section l8 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21.. Hazardous Substances.. As used in. this 'Section "21:: (a) `."Hazardous Substances" are those substances defined as toxic or hazardous` -substances, pollutants, or wastes by Environmental Law and the following substances: gasoline,, kerosene," other flammable .or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; .(b) "Environmental Law" means federal laws and.lawsof the jurisdiction where the Property.is located that, . relate. to health,. safety. or environmental protection; (c) "Environmental Cleanup" includes any.response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a conditioii,i that can :cause, contribute, -to, ,.or otherwise trigger an Environmental' Cleanup:.: Borrower shall not cause or permit .the presence,- use, .disposal; storage, or release of any Hazardous . Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, „nor allow anyone else to do, anything affecting the Property. (a) that is in, violation of any Environmental Law; (b) which creates an Environmental, Condition, or. (c)•which, due to'thepresence, use, or release of a Hazardous Substance, creates -a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use; or storage on the • Property of small quantities of . Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance' of the Property. (including, but not limited to, hazardoussubstances in consumer. products). Borrower shall promptly give Lender written notice of (a)".any investigation; claim, demand, lawsuit or other action, by any. governmental or, regulatory agency or private party involving the Property and any, Hazardous Substance" or ` Environmental Law of which Borrower . has actual knowledge, (b) any Environmental Condition, including,but not limitedto, any spilling, leaking, discharge,"release or threat of release of 'any Hazardous Substance, :and (c).any condition caused by the presence, use or* release of a Hazardous Substance which' adversely affects the value ,of the Property. If Borrower learns, or is notified.. by any governmental or regulatory authority, or. any: private. party, that any removal, or other remediation . of any Hazardous 'Substance. affecting the Property is necessary. BorroW shall promptly take all necessary remedial actions in accordance with Environmental Law: Nothing herein shall: create any. obligation on Lender for an Environmental. Cleanup. - P. - Initia - -6(CA) t0005r Page 12 of i 5 Form 3005 1/01 c`L.0 �I LII�III IIIIIII IIII VIII VIII ��IIII III�II III �III�I III IIII 12 218:20c4a r3e, %R NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; .Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default onor before the date specified in the notice may result in acceleration of the 'sums secured by this Security Instrument 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 non-existence of a default'or any other defense of Borrower to acceleration and sale. If the default is not cured on or - before the date specified in the notice, Lender at its option may require immediate payment in full of . all sums secured by this Security Instrument without further demand and 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 Section 22, 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 -Tr ' ustee to execute a written notice of the occurrence of an event of default and of Lender's election tocause the 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 facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the . person or persons legally entitled to it. 23.. 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 to the person or persons legally entitled to it. Lender may charge such person or persons a reasonable fee for reconveying the- Property, but only if the 'fee is paid toa third party (such as the Trustee) for services rendered and the charging of the fee is permitted. under Applicable Law. If the fee charged does not exceed the fee set by Applicable Law, the fee is conclusively presumed to. be reasonable. 24. 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 office 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. 25. Statement of Obligation Fee. Lender may collect a fee not to exceed the. maximum amount permitted by Applicable Law for furnishing the statement of obligation as provided by Section 2943 of the Civil Code of California. Initials. IM, -6(CA) 100051 Page 13 of 15 Form 3005 1/01 'I IIUIIIRNII�IIn�lu@NIMININIIIIII�IiIINII =`dBe��a'.m• BY SIGNING BELOW, Borrower accepts. and. agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded,�u, �thzLt Witnesses: t S1 n o As:�J M �f �S ' R IISSELL 8 ''AL'DR`i-eV INA of /, o� onA. t{° 20102 Calk: (Seal) PAMELA 'A. MCCANN ALDRICH - -Borrower -(Seal) , (Seal) .. .. _.. -Borrower . -Borrower (Seal) (Seal) . C _ ' + -Borrower- -Borrower f (Seal) (Seal) ' -Borrower) " -Borrower { -s(ci►) (0005) P.agel4of.15 .. FOfT.$005 1/01 _ IIIIII IIIIIII IIII VIII VIII IIIIII iiillilllllill iillll! 12 2-9/ 000 C48: 008 14 of 25 8372481 '. ,.PUDR-3150-1 - PLANNED . UNIT. DEVELOPMENT .RIDER THIS PLANNED,UNIT DEVELOPMENT RIDER is made this;21§T day of DECEMBER, 2000 and is incorporated into and'shall be'•' deemed to amend and . supplement the , Mortgage, ; Deed of Trust; 'or Security Deed (the -"Security Instrument") of the same date, given by the undersigned (the`•"Borrower") to, secure Borrower's Note: to WELLS'FARGO HOME MORTGAGEy_ INC. ° �• !` - ,' ,, r"` , , s - , ,�• (the - "Lender") of the same date..and covering the Property descr W7in the.Security' Instrument and located at: 78830 VIA VENTANA STREET, LAaQUINTA, CA,".92253 , [Property Address] ; The Property includes, but is•notzlimited to,'aparcel ofland 'improved with a dwelling, together with other such parcels and certain common areas and facilities; as described inCOVENANTs, CONDITIONS A1� RESTRICTIONS r (the "Declaration"). � The Property Is. a parte of a planned 'unit, development known as THE VENTANAS AT RANCHO LA.QUINTA,_ "[Narne of Planned Unit DeN elop nerit] " ! (the "PUD."). The -Property, also includes Borrower's interest in -the homeowners association or equivalent entity- owning or managing the common areas and facilities of the PUD (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest. PUD. COVENANTS. In. addition to the covenants and.•agreements"made in the Security' Instrument, Borrower and Lender further covenant and agree as follows:. A. PUD 'Obligations. Borrower shall perform all of Borrower's -.obligations under the PUD's Constituent -Documents. The "Constituent • Documents" ares -the, (i) Declaration; (ii) articles - of incorporation; trust.instrument or" any.. equivalent document. which creates the Owners Association; and (iii). any by-laws or other rules or regulations of the Owners Association: Borrower shall promptly pay;'when due, all dues and assessments .imposed pursuant to the Constituent Documents. MULTISTATE PUD RIDER - Single Family Fannie Mae/Freddie Mac UNIFORM INSTRUMENT F m 31501/01 5 Pa elof3'• ` g Initial d=®7R (0008) ,� .VMP.MORTGAGE FORMS - (800)521-7291 • • •,. tr •! - a 1 - J ,x` • ']f" ' y.• • ''. 111111111111 IN 11111111111111.1111 '! , i • '- •i":' ,, l is �, " 1' �. �� , ., � - ,. - 9 1.1111111111111 JI'l 11111.11111111111111111111111111111 Jill . }�. �@%7j 24._lE�OR y B. Property Insurance. So long' as, the Owners Association maintains,° with a generally accepted insurance carrier, a'"master" of "blanket" -policy insuring the Property. which -is satisfactory to Lender and which- provides insurance coverage in the amounts (including deductible, levels), for the periods, and against loss by. fire, hazards includedwithin the term "extended coverage,'' and any other hazards, including, but not limited to, earthquakes � and floods, 'for which Lender requires insurance,. then: (i) Lender waives the provision in Section 3, for the Periodic Payment to Lender of the yearly premium installments for property insurance on' the Property; and (ii) Borrower's obligation. under Section 5 to maintain property insurance coverage . on the Property is ; deemed satisfied_ to the extent that the required coverage is provided by the Owners Associationpolicy. - What Lender. requires as a.condition of this waivercanchange during the term of the loan. Borrower. shall give Lender prompt. notice of _ any lapse in required, property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance, proceeds. in lieu of restoration "or repair following a loss to the Property,or to common areas, and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender._ Lender shall apply the proceeds to the sums secured by.the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take. such ,actions as may be reasonable *to insure that, the ' Owners Association maintains i a public liability. insurance policy, acceptable - in form, amount, and extent of coverage to Lender. r D. Condemnation. The proceeds of any award or. claim for damages, direct or consequential, payable to Borrower in connection,with any condemnation or other taking of all or any part of the Property or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid'to Lender: Such proceeds, shall- be applied by Lender to the sums secured by the, Security Instrument'as provided in Section`l1. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or, subdivide the Property or consent -to: (i) the abandonment or termination of the PUD, except for abandonment or termination required.by law in the case of substantial destruction by fire or other casualty or.in the case of. a taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Documents if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the OwnersAssociation unacceptable to Lender. Y. F. Remedies. If Borrower does not'0ay'PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this 'paragraph F shall become additional debt of Borrower secured by `the Security Instrument. ,Unless Borrower and Lender agree to other terms of payment, these amounts' shall bear interest from .the date. 'of disbursement• at the Note. rate and. shall be • payable, with interest, upon notice from Lender to Borrower requesting payment. Initials -7R (0008). ; Page 2 of 3. Form 3150 1/01 11111111111111 IN 1111111111111111 iIIIIII III 1111111111111 is �e�i18N of 21aaH`. 837281• HORI-02.09 ; SECOND HOME RIDER ' THIS SECOND HOME RIDER, is made this 21ST . day of DECEMBER, 2000 , and is incorporated into and shall be` deemed to amend +and supplement the Mortgage, Deed of Trust, .or Security Deed (the "Security Instrument") of the same - date given by the undersigned (the "Borrower") whether there are,. one or `more persons .undersigned to secure' Borrower's - Note to WELLS FARGO HOME MORTGAGE,TINC' (the "Lender") of.-the same -date and" covering. the Property, described in the (Security Instrument (the "Property"),, which is located at y 78830 VIA'VENTANA STREET,, LA,•QUINTA,-.CA 92253 • e to - . a _ .. � � ' - [Property Address] In addition to the covenants and agreements made. m the Security ,Instrument, Borrower and Lender.. further covenant and agree that Sections 6. and 8 of the Security, Instrument are deleted and are replaced by, the following: T 6. Occupancy. Borrower shall occupy; .and shall'only use, the Property as Borrower's second home. Borrower shall keep the Property available' for, Borrower's: exclusive use and enjoyment at ' all times, and shall' not'.' bjece the Property to any timesharing or other shared ownership arrangement or to any rental pool .or agreement that requires Borrower either.. to rent the Property or give a management firm .or any other person any control over the occupancy or use of the Property. .. 8. Borrower's I;oan Application. Borrower shall be in-default if, during the Loan application process,'. Borrower or any persons or entities. acting at-the direction, of Borrower or with . Borrower's knowledge or consent gave materially false, misleading, or inaccurate. information or statements to Lender (or failed to provide Lender with"material information) in connection with the Loan. Material representations ;include, but are not limited to,,"representations concerning- Borrower's occupancy of. the Property as Borrower's second home MULTISTATE SECOND HOME RIDER- Single family t Fannie Mae/Freddie Mac UNIFORM INSTRUMENT -eLF� 38901/01 . Page 1 of 2 Initial 4=-365R (0008) „n %VMP'MORTGAGE FORMS -18001521-7291 - v ::.+ '^ :Y � � '. t Y^. ``. i-v •`..• Y:. ,.'i •'r•' .. I IIIIIII VIII IIII IIIIII IIII IIII IIII '. 7. f '2%0-5224'31 ' ��,2& . f25NaR' t 83724'81 ;: NAAR-3182-1" _' . -. 8 ., r +• r ♦ +' ti's ; .. - FIXED/ADJUSTABLE RATE RIDER (One-Year..Treasury Index - Rate,•Caps) F ti THIS FIXED/ADJUSTABLE RATE RIDER'is made this 21ST day of DECEMBER, 2000' . and is incorporated into and shale_ be deemed to amendand supplement the Mortgage, Deed' of Trust, or Security Deed(the-"Security Instrument"), of the same date given,by the undersigned ("Borrower") to secure Borrower's Fixed/Adjustable Rate Note (the "Note") to ; WELLS FARGO HOME MORTGAGE, INC. ; ("Lender")` of the same date and. covering Athe property described in the Security Instrument and located at: 78830. 'VIA VENTANA STREET,, LA QUINTA, CA 92253. . [property Address] THE -NOTE PROVIDES FOR A CHANGE .IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST -RATE. THE -NOTE LIMITS THE AMOUNT. BORROWER'S ADJUSTABLE INTEREST RATE CAN -CHANGE AT ANYONE TIME AND THE MAXIMUM RATE_ BORROWER MUST PAY.' ADDITIONAL COVENANTS:_ In, addition to the, covenants^ and agreements made in the Security Instrument, Borrower and Lender further covenant and' agree as, follows; A. ADJUSTABLE RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fixed interest rate of 6.750 %, The Note also provides for a change in the initial fixed rate to an adjustable in rate, as follows: 4.- ADJUSTABLE INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The initial. fixed interest rate I will pay will change to an adjustable interest rate on the first day' of JANUARY,. .2906 and the adjustable interest. rate I will pay may change on that day every 12th month thereafter. The date. on which, my initial fixed interest rate changes to an adjustable interest rate; and each date on which my adjustable interest rate could change, is called a "Change Date. + y , MULTISTATE FIXED/ADJUSTABLE. RATE RIDER - ONE-YEAR TREASURY. INDEX- Single Family Fannie Mae Uniform Instrument ��843R (0006) Form 3 /01' Page 1 of 4' Initials: + < VMP MORTGAGE FORMS - (800) 21-729,1,'I IIIIIIII II IIIIII IIILIIIIII IIII III) 12 . - • 4 .. �I i 111 I I I� C&80-522491 II IIIIIIIIIIIIII(IIIIIIIIIIIIIIIIIILIIII�I IIIIII 12/29/2006C2of 25Jt�fi ,t (B) The Index Beginning with the first Change Date, my adjustable interest rate will be based on an Index. The. "Index" is the weekly.,ayerage yield on United States Treasurysecurities adjusted to. a. constant, maturity of one year., as made available by the Federal Reserve Board. • The most .recent_ Index figure available as of the date 45 days before each. Change Date is called the "Current, Index. If the Index is -no longer available; the Note Holder will choose a new index that is based upon comparable information. The. Note Holder will give me notice of this clioice: (C) Calculation of Changes Before each .Change Date, the Note. Holder `will` calculate my new interest rate by adding TWO AND THREE -QU, TBRS percentage points ( 2.`750' %) to,the Current Index:'The Note Holder will then round the result of this addition to the nearest, one-eighth of one, percentage. point (0:125%).;Subject,to the. limits. stated. in Section ,4(D) below, this rounded amount,will be my new interest• rate until the next.Change Date. y The Note Holder will then determine the, amount of the monthly payment that would be sufficient' to repay the unpaid principal that I am expected to owe at the Change, Date in full on the. Maturity. Date at my new interest rate in substantially equal payments. The ,result :of this calculation will be the new. amount of my monthly payment: (D) Limits on Interest Rate Changes i { The interest rate I ' am "'required . to pay: at , the first Change Date will: not be greater than, 8.750 % or less than4.750 %. Thereafter, my adjustable interest Yate will never.be increased or decreased'on' any single Change Date by more than two percentage points from the rate, of interest I have :been -paying for the. preceding' l2; months. My interest rate will never be greater than 12.7 5 0 (E) Effective Date of Changes My new. interest 'rate will become effective on each Change Date. l'_will pay the„amount of my new monthly payment beginning on.the first monthly payment date aftenthe Change Date until the amount of. . my monthlypayment changes again. W (F) Notice of ChangesThe Note Holder will deliver or mail: to 'me a notice of any changes, in my initial fixed interest rate to an adjustable. interest rate and of.any changes in my adjustable interest rate before the effective date of any. change. The notice will, include the amount of my monthly payment, any information required by law to be given to me and also the title.and telephone numtier'of a person who will'answer any question I may have regarding the notice: f , B. TRANSFER. OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER L. Until Borrower's initial fixed interest rate changes to .an'adjustabl erest. rate under the terms. . stated in Section'A above, Uniform Covenant -18 of the Security Instrumen s read as follows:, Initials: ' 843R (0006),. Page 2 of 4' "i' Form 3182 1/01 + �I I IIIIII IIIIII� IIII VIII VIII IIIIIL IIIIII III IIIIIYE II.II�I 1'2' 4"23 of 9`�iFJF{ • Transfer of the Property or aBeneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not'limited to, those beneficial interests .transferred. in, a :bond: for deed, contract for deed, installment sales contract or escrow agreement, �the. ' intent of which is the transfer of title by Borrower at a future date to,a purchaser. If all or any part of the Property, or any Interest in the Property is 'sold, ortransferred (or* if Borrower, is not a natural person.. and a beneficial, interest. in Borrower is sold or transferred) without Lender's prior written consent;, Lender may require immediate. payment in full of all sums secured, by this Security Instrument: However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law: If Lender.' exercises this option, Lender, shall give Borrower notice of acceleration. The tr • notice shall provide a' period, of not. less than. 30 - days from the date .the notice is given in t accordancewith Section 15 ,within which Borrower must pay all sums secured by this Security Instrument. If, Borrower', fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower: „ 2.:When Borrower's initial fixed; interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security. Instrument described in Section B1 above shall then cease to be in effect, and the provisions of Uniform Covenant 18 of the Security Instrument shall be amended to read as follows: " E Transfer of, the Property or -a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Propertymeans. any legal or. beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a, bond. for deed, contract for deed, installment sales contract. or escrow agreement, the intent of which is the transfer of title by ' Borrower at a..future date to a purchaser. If all or any part of the Property or any Internet in the Property.is sold or transferred (or if Borrower is not a natural person: and a beneficial interest in Borrower 'is sold or transferred) without Lender's prior written consent, Lender may this immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be. exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required: by Lender to evaluate the intended transferee as if -a new loan were 'being made to the .transferee; and (b) Lender reasonably determines that Lender's security will not be impaired :by the loan assumption and . . that the risk of a breach of.any. covenant or agreement in this Security Instrument is acceptable to Lender.: .. ` To the. extent . permitted by Applicable Law, Lender may .charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender also may require the. transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to ' keep all the promises and agreements made'in the Note and in this Security 'Instrument. Borrower will continue..to 'be 'obligated under'the- Note and this Security Instrument unless Lender releases Borrower in writing.. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a pend of n less than 30 days from the date the notice is given inaccordancewith Section 15 within w c Borrower must pay all M 843R (0006) ':"Page 3 of 4 = _ Form 3182 1I01 . F• r.. f ' 2@&0 52249 • . .1.11011111111111111111111111111111111111 III ��. i2�2- 24 of 00R ; sums secured by this . Security Instrument.: If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further. notice or demand on Borrower. Y IGNIN ..B LOW, Bo. �er ac s and agrees-to�the terms and t �• " j ate der: ° 'c tate of Washirr r, Nbfary Public ' CAROL a REr�� _:;,. r, State of Wnshingfori A. RE/dSEN lr . r.rx?^lT�nf �2i,ec it ,7- AROL 2002 e,ceal60.ill i9, RUSSELL B. ALDRICH -Borrower .PAMELA A. MCCANN • ?�""'s-�'fsy.�. o i Wer (Seal)' f ^ r (Seal) . . -Borrower -Borrower .. , � YW-s. (Seal) (Seal) ; -Borrower -Borrower ' (Seal) —(Seal). -Borrower -Borrower 843R (0006) ;L� s °' Page 4Jof 4 ` • } Form 3182 1/01' yAr I IIIIII IIIIIII ILII VIII VIII IIIIII IIIIII III III�� II'llll lc. 24N125N �I fa 2'5