HomeMy WebLinkAbout1980-216 San Bernardino
60 ,005-39-1
RESOLUTION NO. 20
RESOLUTION OF THE CITY OF SAN BER`1AR.DINO,
CALIFORNIA, APPROVING CERTAIN DOCUMENTS
TO BE USED IN CONNECTION WITH ITS
MORTGAGE REVENUE BOND PROGRAM'
WHEREAS, the City of San Bernardino, California
(the "City" ) , intends to issue Revenue Bonds designated
"City of San Bernardino, Single Family Residential Mortgage
Revenue Bonds, 1980 Series A" (the "Bonds") for its Program
of Financing Residential Housing as provided in Ordinance
No. 3853 approved by the Mayor and Common Council of the
City on August 25 , 1979 , including any amendments thereto,
providing for the issuance of mortgage revenue bonds pur-
suant to the City Charter powers of the City; and
WHEREAS, Section 1 .08 of the Rules and P.egul,a-
tions of the City adopted in furtherance of its Program
by appropriate resolution of the City dated April 7 , 1980 ,
provides that the forms of docurr•.ent:< to be employed for
the making and processing of applications for Morri_c�aae
Loans, for the making or purchasing of Mortgage Loans and
for the administration of all matters related thereto shall
be those of the Qualified Mortgage Lender and/or the
Mortgage Insurer, subject to suitable modifications as to
E113-1 (ds)
5/13/80
/
San Bernardino
60 ,005-39-1
consistency with the ordinance and the General Resolution
and shall be attached to the Rules and Regulations as
exhibits when the same are in final form; and
WHEREAS, Section 1 .09 of the Rules and Regula-
tions, referred to above, requires the Qualified Mortgage
Lender to submit certain documents to the City for
approval; and
WHEREAS , the City must now approve the form
of such documents necessary for the administration of
certain matters related to the Yrocram.
NOW, THEREFORF, BE IT RESOLVED, DETERrtiINED AND
ORDERED BY THE CITY OF SAN BERNARDINO, CALIFORNIA, AS
FOLLOWS:
Section 1. Approval of Documents . The documents,
attached hereto and incorporated herein by reference are
hereby approved as those which the City authorizes for use
by the Qualified Mortgage Lender and the Mortgage Insurer
in connection with the adninistration of the Financing of
Residential Housing pursuant to the Ordinance .
-2- E113-2 (ds)
5/13/60
San Bernardino
60 ,005-39-1
Section 2. Authorization . The City Clerk is
hereby authorized and directed to attach a copy of the
documents attached hereto to the Rules and Regulations of
the City pursuant to Section 1 .08 of the Rules and
Regulations .
I HEREBY CERTIFY tha' the foregoing resolution was
duly adopted by the Mayor and Common Council of the City of
San Bernardino at a _ meeting thereof, held
on the l y day of 1980 ,
—_—�
by the following vote , to-wit:
AYES: Councilmen
NAYS:
ABSENT:
6�:9�72Q/ .GrrCD�i
City Clerk
The foregoing resolution is hereby approv this
�p day of , 1980 .
r f t e ty of San Bernardino
Approved as to form:
City A orney
-3- E113-3 (ds)
5/13/80
Santa Fe Federal Savings
ADDENDUM TO INSTRUCTIONS
TO ESCROW ON RDA LOANS
n�
FROM PROCEEDS DUE THE SELLER AT THE CLOSE OF YOUR ESCROW, PAY BY
YOUR CHECK TO THE ORDER OF THE REDEVELOPMENT AGENCY OF SAN BERNARDINO
THE EQUIVALENT OF 2% OF THE FACE AMOUNT OF THE DEED OF TRUST BEING
RECORDED AT CLOSE OF THIS TRANSACTION. PLEASE MAIL THE ABOVE
CHECK TO: REDEVELOPMENT AGENCY OF SAN BERNARDINO
300 NORTH "D" STREET
SAN BERNARDINO, CA. 92401
Santa Fe Federal Savings 701 North E Street Chartered 1890
6 Loan Association San Bernardino, California 92403 Member: Federal Savings and
Telephone 714 889-0231 Loan Insurance Corporation
LOW NO.
11) (2)
(3) (4)
Appliaatbn is hereby made by the undersigned for membership in
SANTA FE FEDERAL SAVINGS AND LOAN ASSOCIATION
in connection with the above numbered loan, it being understood that the first disbursement made by you on account of
said loan shall constitute your acceptance as of that time of this application. A specimen of signature is shown below and
you are hereby authorized to act without further inquiry in accordance with writings bearing any such signature. You are
authorized to accept checks and other instruments for credit to the ban account, whether payable to one or more of the
parties, and to supply any needed endorsement. You are relieved of any liability in connection with collection of all items
handled by you without negligence, and you shall not be liable for acts of your agents, sub-agents or others or for any
casualty. Any amount not collected, together with any kind of expense incurred as a result thereof or in the collection
procedure, may be charged to said ban account as an advance on said ban, and such amounts shall be secured by any
security instrument securing the ban.
(1) (2)
(3) (4)
Date:
SF78 5M 10.79 CP33543
NOTE
US$....................................... ..................................,California
City
......................................19...
FOR VALUE RECEIVED,the undersigned("Borrower")promises)to pay.......................
..................................................................or order,the principal sum of
.....................................................................I.........Dollars,with
interest on the unpaid principal balance from the date of this Note,until paid,at the rate of................
.....................percent per annum.Principal and interest shall be payable at ............. .....
........................................................I............or such other place as the
Note holder may designate,in consecutive monthly installments of. ........................... .......
................................................... Dollars(US E.. ......................... ),
on the ................................................. .... ........day of each month beginning
.............. ................................19.....Such monthly installments shall continue until
the entire indebtedness evidenced by this Note is fully paid,except that any remaining indebtedness,if not
sooner paid shall be due and payable on ..........................................................
If any monthly installment under this Note is not paid when due and remains unpaid after a date speci-
fied by a notice to Borrower,the entire principal amount outstanding and accrued interest thereon shall at
once become due and payable at the option of the Note holder.The date specified shall not be less than thirty
days from the date such notice is mailed.The Note holder may exercise this option to accelerate during any
default by Borrower regardless of any prior forbearance.If suit is brought to collect this Note,the Note holder
shall be entitled to collect all reasonable costs and expenses of suit,including,but not limited to,reasonable
attorney's fees.
Borrower shall pay to the Note holder a late charge of .......................percent of any monthly
installment not received by the Note holder within......... .............days after the installment is due.
Borrower may prepay the principal amount outstanding in whole or in part.The Note holder may require
that any partial prepayments l i l be made on the date monthly installments are due and(ii)be in the amount
of that part of one or more monthly installments which would be applicable to principal. Any partial pre-
payment shall be applied against the principal amount outstanding and shall not postpone the due date of any
subsequent monthly installments or change the amount of such installments, unless the Note holder shall
otherwise agree in writing.
Presentment,notice of dishonor,and protest are hereby waived by all makers,sureties,guarantors and
endorsers hereof.This Note shall be the joint and several obligation of all makers,sureties,guarantors and
endorsers,and shall be binding upon them and their successors and assigns.
Any notice to Borrower provided for in this Note shall be given by mailing such notice by certified mail
addressed to Borrower at the Property Address stated below,or to such other address as Borrower may desig-
nate by notice to the Note holder.Any notice to the Note holder shall be given by mailing such notice by cer-
tified mail,return receipt requested, to the Note holder at the address stated in the first paragraph of this
Note,or at such other address as may have been designated by notice to Borrower.
The indebtedness evidenced by this Note is secured by a Deed of Trust,dated. ............... . .. ....
••••.••..................and reference is made to the Dead of Trust for rights as to acceleration of the in-
debtedness evidenced by the Note,including paragraph 17 which provides as follows:
"Transfer of the Property;Assumption. If all or any part of the Property or an interest therein is @old or transferred
by Borrower without lender's prior written consent,excluding W the creation of a lion or encumbrance subordinate
to this Deed of Trust,1bl the creation of a purchase money security interest for household appliances.Icl a transfer by
devise,descent or by operation of law upon the death of a joint tenant or 1d1 the grant of any isasshold interest of three
rears or less not containing an option to ourchass,Lender may,at Lender's option,declare all the sums secured by thin
Dead of Trust to be immediately due and payable.Lender shall have waived such option to accelerate if.prior to the sale
or transfer.Lander and the person to whom the Property is to be cold or transferred reach agreement in writing that the
credit of such pernon is eaLis: - _y to Lander and that the interest payable on the sums secured by this Desd of Trust
shag be at such me u Lender shall request.If Lender has waived the option to accelerate provided in this paragraph 17
and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by Lander,
Lander shall release Borrower from all obligations under this Deed of Trust and the Note.If Lander exercises such option
to accelerate.Lander shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.Such notice 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.Lander may,without further
notice or demand on Borrower,invoke any remedies permitted by paragraph 18 hereof."
...........................................
........................................... ...........................................
...........................................
...........................................
Proper ty Address
......... ..................................
(Execute Original Only)
CALIFORNIA-1 to 4 Famiy-8/79—FNMA 1FNLMC UNIFORM INSTRUMENT
SF247 SM 12.79 CP35523
White•Original/Canary-File Copy/Pink-Borrower's Copy
ADW-: :')1 v1 TO NOTE
LOAN NU.
In consideration of Santa Fe Federal Savings and Loan Association making a
loan to the undersigned, the following provisions are incorporated in the Note of
even date herewith to which this Addendum is attached, notwithstanding anything
tD t.-:e contrary in said Note.
P PAYNIENT
may prepay all or part of the outstanding principal at any time, pro
-
.....c'. that if the aggregate amount paid in :uny 12 month period exceeds 207, of
:__e original principal amount. Borrower a.l. ll pay the Notc hold_•r a prepayment
;e equal to 6 months advan�c interest, at thy: rate specified in the note, on
amount of excess.
SL\rLE-FAhlILS',C1�'Ni:R-OCCUPIED DW-ELLINGS
e Deed of Trust securing the Note is on real property containing only a sinrIc-
_ owner-occUpied-dwelling (as defined by California I-r::), no prepayment
%%hatever shall be payable with respect to any prepayr--nt made on or af-
ter _ne expiration of 5 years after the date of execution of the Deed of Trust.
D--=-CULT
Should default be made in the payment of any installment when due, or in the per-
-ormance of any provision or condition contained in the Deed of Trust securing the
Note, the entire outstanding principal and accrued interest shall become immedi-
ately- due at the option of the Note Holder.
RECONVEYANCE
Contrary to item 22 of the Deed of Trust securing this and any subsequent Notes,
upon payment of all sums secured by the Deed of Trust. Lender shall request Trust-
ee to reconvey the Property and shall surrender the Deed of Trust and all notes
evidencing indebtedness secured by the Deed of Trust to the Trustee. Trustee
shall reconvey the Property without warranty and with reasonable charge to the
?erson or all persons legally entitled thereto. Such person or persons shall pay
all costs or recordation, if any.
PARTIAL INVALIDITY
In the event any provision of the Note or the Deed of Trust securing it or of this
addendum is held to be invalid, such holding shall not invalidate any of the remain-
ine provisions of the Note or Deed of Trust or this addendum.
TZRMINATION OF ADDENDUM
In the event the Note to which the Addendum is attached shall be assigned, trans-
:erred or sold to the Federal Home Loan Mortgage Corporation, or the Federal
National Mortgage Association, or any successors, the holder of the Note to which
`.is Addendum is attached shall have the right to cancel and terminate this Add,.n-
`.rm at its sole discretion. In such event, the provisions of the Note; absent this
--addendum, shall continue in full force and effect as if this Addendum has not been
executed.
Property Address Borrower
Borrower
Borrower
Borrower
WHEN RECORDED MAIL TO
SANTA FE FEDERAL SAYINGS
AND LOAN ASSOCIATION
701 North "E" Street
San be nardino, California 92403
SPACE HOVE THIS IN FOR RgCMCXRIS USE
DEED OF TRUST
THIS DEED OF TRUST is made this day of
19 among the Trustor,
(herein "Borrower"), INDEPENDENT ENCUMBRANCE SERVICE,a Corporation(herein '"Trustee"),and
the Beneficiary, SANTA FE FEDERAL SAVINGS AND LOAN ASSOCIATION, a corporation organized
and existing under the laws of THE UNITED STATES OF AMERICA, whose address is 701 "E" Street.
San Bernardino, California 92403 (herein "Lender").
Borrower, in consideration of the indebtedness herein recited and the trust herein created, irrevocably
grants and conveys to Trustee, in trust, with power of sale,the following described property located In the
County of State of California
which has the address of ,
'
tst—t (herein "Property Address"): (City)
tsar.and AP Coaq
Together with all the improvements now or hereafter erected on the property,and all easements,rights.
appurtenances, rents (subject however to the rights and authorities given herein to Lender to collect and
apply such rents), royalties,mineral,oil and gas rights and profits,water,water rights,and water stock,and
all fixtures now or hereafter attached to the property, all of which, including replacements and additions
thereto, shall be deemed to be and remain a part of the property covered by this Deed of Trust:and all of
the foregoing, together with said property (or the leasehold estate if this Deed of Trust is on a leasehold)
are herein referred to as the "Property":
To Secure to Lender (a) the repayment of the indebtedness evidenced by Borrower's note dated----
(herein "Note"), in the principal sum of
Dollars, with interest hereon, providing for monthly installments
of principal and interest, with the balance of the indebtedness, if not sooner paid, due and payable on
the payments of all other sums, with interest thereon, advanced
in accordance herewith to protect the security of this Deed of Trust;and the performance of the covenants
and agreements of Borrower herein contained:and (b) the repayment of any future advances, with inter-
est thereon, made to Borrower by Lender pursuant to paragraph 21 hereof(herein "Future Advances").
Borrower covenants that Borrower is lawfully seised of the estate hereby conveyed and has the right to
grant and convey the Property, that the Property is unencumbered, and that Borrower will warrant and
defend generally the title to the Property against all claims and demands,subject to any declarations,ease-
ments or restrictions listed in a schedule of exceptions to coverage in any title insurance policy insuring
Lender's interest in the Property.
CALIFORNIA - t to 4 Family—5/75—FNMA/FHLMC UNIFORM INSTRUMENT
SF245 3M 7.79 CP70224
UNtroaM CovENANTS. Borrower and Lender covenant and agree as follows:
1. Payssent of Principal and Inlereta. Borrower shall promptly pay when due the principal of and interest on the
indebtedness evidenced by the Note,prepayment and late charges as provided to the Note,and the principal of and interest
on any Future Advances secured by this Deed of Trust.
2
Fossils for Taisas and Ltswanee. Subject to applicable law or to a written waiver by Lender, Borrower shall pay
to Lender on the day monthly installments of principal and interest are payable under the Note,until the Note is paid in full.
a sum (herein "Funds") equal to one-twelfth of the yearly taxes and assessment& which may attain priority, over this
Deed of Trust,and ground rents on the Property,if any,plus one-twelfth of yearly premium installments for hazard insurance.
plus one-twelfth of yearly premium installments for mortgage insurance,if any.all as reasonably estimated initially and from
time to time by Lander on the basis of assessments and bills and reasonable estimates thereof.
The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Federal or
state agency(including Lender if Lender is such an institution). Lender shall apply the Funds to pay sai es
d taxes.asssments.
insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds,analyzing said account
or verifying and compiling said assessments and bills,unless Lender pays Borrower interest on the Funds and applicable lass
its Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of thi,
Deed of Trust that interest on the Funds shall be paid to Borrower, and unless such agreement is made or applicable lass
requires such interest to be paid.Lender shall not be required to pay Borrower any interest or earnings on the Funds Lender
shall give to Borrower,without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
purpose for which each debit to the Funds wait made. The Funds are pledged as additional security for the sums secured
y this Deed of Trust
If the amount of the Funds held by Lender, together with the future monthly installments of Funds payable prior ti,
the due dates of taxes,assessments,insurance premiums and ground rents,shall exceed the amount required to pay said taus.
assessments, insurance premiums and ground rents as they fall due such excess shall be. at Borrowers option either
promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Fund,
held by Lender shall not he sufficient to pay taxes, assessments. insurance premiums and ground rents as they fall due
Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice n mailed
by Lender to Borrower requesting payment thereof.
Upon payment in full of all sums secured by this Deed of Trust. Lender shall promptly refund to Borrower an% Fund,
held by Lender If under paragraph 18 hereof the Property is sold or the Property is otherwise acquired by 1 ender Lende,
shall apply. no later than immediately prior to the sale of the Property or its acquisition by Lender any Funds hell by
Lender at the time of application as a credit against the sums secured by this Deed of Trust
3. Application of Payments. Unless applicable law provides otherwise. all payments received by Lender under the
Note and paragraphs I and 2 hereof shall he applied by Lender first in payment of amount, payable to Lender M Born�wer
under paragraph 2 hereof,then to interest payable on the Note,then to the principal of the Note. and then to interest and
prinopal on any Future Advances
4. Chas se
tes:Liens. Borrower shall pay all taxes. assessments and other charges. fines and lint"ltions attributable tr
the Property which may attain a priority over this Deed of Trust. and leasehold payments or ground rents. if any. in the
manner provided under paragraph 2 hereof or.if not paid in such manner. by Borrower making payment.when due directh
to the payee thereof. Borrower shall promptly furnish to Lender all notice,of amounts due under this paragraph and in the
event Borrower shall make payment directly. Borrower shall promptly furnish to Lender receipts evidencing such payments
Borrower shall promptly discharge any lien which has priority over this Deed of Truisr provided.that Borrower ,hall not he
required to discharge any such lien so long as Borrower shall agree in writing to the payment of the obligation secured b,
such hen in a manner acceptable to Lender.or shall in good faith contest such lien by,or defend enforcement of such hen m
legal Proceeding, which operate to prevent the enforcement of the lien or forfeiture of the Property or am pare thereof
S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Propert, insured
against loss by fire. hazards included within the term "extended coverage . and such other hazards as Lender may require
and in such amounts and for such periods a,Lender may require.provided that Lender shall not require that the amount of
such coverage exceed that amount of coverage required to pa, the sum, secured by this Deed of Trust
The insurance carrier providing the insurance shall he chosen by Borrower subject to approval bs Lender. provided.
that such approval shall not he unreasonably withheld All premiums on insurance policies shall he paid in the manner
provided under paragraph 2 hereof or,if not paid in such manner, by Borrower making payment, when due. directly to the
insurance carrier.
All insurance policies and renewals thereof shall he in form acceptable to Lender and shall include a standard mortgage
clause in favor of and in form acceptahle to Lender. Lender shall have the right to hold the policies and renewal, thereot.
and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the event of lox,.
Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss it not made promptly
by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of
the Property damaged.provided such restoration or repair is economically feasible and the securits of this Deed of Trust i,
not thereby impaired If such restoration or repair is not economically feasible or if the securo of this Deed of l rust would
be impaired,the insurance proceeds shall be applied to the sums secured by this Deed of Trust.with the exces,. it any. paid
to Borrower. If the Property is abandoned by Borrower,or if Borrower faik to respond to Lender within 30 dad, from the
date notice is mailed by Lender to Borrower that the insurance carrier offers to settle a claim for insurance benefit, Lender
is authorized to collect and apply the insurance proceeds at Lender's option either to restoration or repair of the Propem
or to the sums secured by this Deed of Trust
Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
or postpone the due date of the monthh installments referred to in paragraphs I and 2 hereof or change the amount of
such installments If under paragraph I R hereof the Property is acquired by Lender,all right, title and interest of Borrower
in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior no the sale
or acquisition shall pass to Lender to the extent of the sums secured by this Deed of Trust immediateh prior to such sale or
acquisition.
6. Preservation and Maintenance of Property; Leaseholds; Condominiums; Planned Unit Developments. Borrower
shall keep the Property in good repair and shall not commit wdsic of permit impairment or deterioration of the Propertv
and shall comply with the provisions of any lease if this feed of T rust is on a leasehold It this Deed of Trust is on a unit in a
condominium or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration
or covenants creating or governing the condominium or planned unit development, the by-laws and regulations of the
condominium or planned unit development, and consmuen: document, If a condominium or planned unit development
rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreement, of such rider
shall be incorporated into and shall amend and supplement the covenants and agreements of this Deed of Trust as if the rider
were a pan hereof
7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in thi,
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, or arrangements or proceeding, invoking a
bankrupt or decedent,then Lender at Lender's option,upon notice to Borrower, may make such appearances. disburse such
sums and take 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 If Lender required mortgage insurance as a
condition of making the loan secured by this feed of Trust. Borrower shall pay the premiums required to maintain such
insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and
Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional
indebtedness of Borrower secured by,this Deed of Trust. 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 rate payable from time to time on outstanding principal under the Note unless payment of interest
at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
S. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property,provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Condemnation. The proceeds of any award or claim for damages.direct or consequential, in connection with any
condemnation or other taking of the Property,or part thereof,or for conveyance in lieu of condemnation,are hereby assigned
and shall be paid to Lender
In the event of a total taking of the Property,the proceeds shall be applied to the sums secured by this Deed of Trust.
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in writing,there shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of
Lakin g bears to the fair market value of the Property immediately prior to the date of taking,with the balance of the proceeds
Paid to Borrower.
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 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 sums secured by this Deed of Trust
Unless Lender and Borrower otherwise agree in writing,any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
such installments
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release. in am manner.
the liability of the original Borrower and Borrower's successors in interest. Lender shall not he required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest
11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder or
otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy
The procurement of insurance or the payment of taxes or other hens or charges by Lender shall not be a waiver of Lender s
right to accelerate the maturity of the indebtedness secured by this Deed of Trust
12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to am other right
or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently. mdependentfs or
successively.
13. Successors and Assigns Bound; Joint and Several Ll"Ity; Captions. The covenants and agreements herein
contained shall bind,and the rights hereunder shall inure to,the respective successors and assigns of Lender and Borrower
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several
The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notice. Except for any notice required under apppplicable 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 cenified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate 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 address stated herein or TO
such other address as Lender may designate by notice to Borrower as provided herein Any notice provided for in thi,
Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein
15. Uniform Deed of Trust;Governing Law;SeverabiBty. This form of deed of trust combines uniform covenant, for
national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securits instrument
covering real property. This Deed of Trust shall he governed by the law of the jurisdiction in which the Property is located
In the event that any provision or clause of this Deed of Trust or the 'rote conflicts with applicable law, such conflict shell
not affect other provisions of this Deed of Trust or the Note which can he given effect without the conflicting prosiston,
and to this end the provisions of the Deed of Trust and the Note arc declared to he severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at the time
of execution or after recordation hereof.
17. Transfer of the Properly:Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding i a I the creation of a lien or encumbrance subordinate t
this Deed of Trust, (b) the creation of a purchase money security interest for household appliances, i c f a transfer M desue
descent or by operation of law upon the death of a joint tenant or(d) the grant of any leasehold interest of three years or less
not containing an option to purchase,Lender may,at Lender's option,declare all the sums secured by this Deed of Trust to he
immediately due and payable Lender shall have waived such option to accelerate if. prior to the sale or transfer. Lender
and the person to whom the Property is(o be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Deed of Trust shall he at such rate as
Lender shall request If Lender has waived the option to accelerate provided in this paragraph 17,and if Borrower's successor
in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower tram
all obligations under this Deed of Trust and the Note.
If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof Such notice 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 b% paragraph IF hereof
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows
18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, 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,Lender prior to acceleration shell mall notice to Borrower m provided in paragraph 14 hereof specifying:
(1)the breach;(2)the action required to cure such breach;(3)a date,not less than 30 days from the date the notice is mailed
to Borrower,by which such breach most be cured;and(4)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 ask 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 son-
existence of a default or any other defense of Borrower to acceleration and ask. If the breach is am cured net or before the
date specified in the notice,Leader 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 ask and any other remedies permitted
by applicable law. Leader shag be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies
provided in this paragraph 18,including,but not limited to,reasonable attorney's fees.
If Lender invokes the power of sale.Lender shell execute or cause Trustee to execute a written notice of the occurrence
of as event of default and of Lender's election to cause the Property to be sold and shell cause such notice to be recorded in
each county in which the Property or some pan thereof is located. Lender or Trustee shall mail copies of such notice in the
maser prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. Trustee shall gi.e
psblk notice of sale to the persons and In the rummer prescribed by applicable law. After the lapse of such time as may be
required by applicable law,Trustee,without demand on Borrower,shag sell the Property st public auction to the highest
Mulder at the time and place and msder the terms designated in the notice of sale in one or more parcels and in such order as
Trustee may determine. Trustee may postpone sale of all or say eel of the Property by public announcement at the time
and place of any previously scheduled oak. Lender or Lender's=nee may purchase the Property at any ask.
Trustee sbd deliver to the purchaser Trustee's deed conveying the Property so sold wkbout any covenant or warranty,
expressed or implied. The rockah is Ibe Trustee's deed shall be prima facie evidence of floe truth of the statements made
tberefa. Trustee shelf apply the proceeds of the ask In the following order:(a)to d reasonable costs and expenses of the sale.
Including but sot Hofted to,reasonable Trustees and attorney's fees and costs of title evidence; (b)to all sums secured by
that Deed of Trot;and(e)The excess,N my,to the persom or persons legally entitled thereto.
19. Borrowers Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Deed of Trust discontinued at any
time prior to five days before sale of the Property punuant to the power of sale contained in this Deed of Trust or at am
time prior to entry of a judgment enforcing this Deed of Trust if: (a) Borrower pays Lender all sums which would be then
due under this Deed of Trust, the Note and notes securing Future Advances, if any, had no acceleration occurred. (b)
Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Deed of Trust:(c) Borrower
pays all reasonable ax uses incurred by Lender and Trustee in enforcing the covenants and agreements of Borrower
contained in this Dtxd of Trust,and in enforcing Lender's and Trustee's remedies as provided in paragraph 18 hereof.
including, but not limited to, reasonable attorneys fees; and (d) 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 Borrowers obligation to pay the
sure secured by this Deed of Trust shall continue unimpaired. Upon ranch paymem and are by Borrower,this Deed of Trust
and the obligation seemed hereby shall remain in full force and eRect u if no accele ration had occurred.
28• Atelpessat of Resells;A/pietreed of Receiver,Leader Y Possession. As additional security hereunder,Borrower
hereby anigro to Leader the rams of the Pro perty,provided that Borrower shall, prior to acceleration under paragraph 18
hereof or abandonment of this Property,have the right to collect and retain such rents u they become due and payable.
Upon acceleration under paragraph 18 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 Propert y and to collect the
rents of the Property includin`those pest 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 fen, and then to the sums secured by this Deed of Trust. Lender and the
receiver shall be liable to a000um only for thoee rents actually received.
21. Punsm Advaisns. Upon request of Borrower.Lender,at Lender's option prior to full reconveyance of the Property
by Trustee to Borrower,may make Future Advances to Borrower. Such Future Advances,with interest thereon, shall be
secured by this Deed of Trust when evidenced by promissory notes stating that said notes are secured hereby
22. Rseoaveyssree. Upon payment of all sums secured by this Deed of Trust,Lender shall request Trustee to reconvey
the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed of Trust
to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled
thereto. Such person or persons shall pay all costs of recordation,if any.
23. 9a6aWute Trustee. Lender, at Lender's option, may from time to time remove Trustee and appoinn a successor
trustee to any Trustee appointed hereunder. Without conveyance of the Property, the successor trustee shall succeed to all
the title,power and duties conferred upon the Trustee herein and by applicable law.
24. Request for Nottfea Borrower requests that copies of the notice of default and notice of We be sent to Borrower's
which hich is the Property Address.
29. Staseesed of C 6Bptbn. Lender may collect a fee not to exceed$15 for furnishing the statement of obligation as
provided by Section 2943 of the Civil Code of California,
IN WITNESS WHEREOF,Borrower has executed this Deed of Trust.
....... .. ............ .. . . .... .. .. .. .. .............. ..
--sorrower
............. . . .. ...... .. .... .. .. .. ..................
—borrower
STATE OF CALI FORNIA.... ............ .......... ...... .. . . .....County ss:
On this . . .. . . .. .. .. .day of. .. .. . . .. .. ... 19. . . .,before me,the undersigned,a Notary Public in and
for said State,personally appeared. .. .. .. .. .. .. .. .. .. . .. .... .. .. .. .. .. .. .. .. .. ...... .. .. .. .... ....
. .... .. .. ... ... .. .. .. .... . .... ... .. .. ...known to me to he the person(s) whose name(s). . . . .. .. .. ..
subscribed to the foregoing instrument and acknowledged that. . . .... .. .. ...... .executed the same
WITNESS my hand and official seal. Signature:. . . .. .. . . . ............... .... .. ........ ......
(RWrvao tot OFF-cis'sae')
. .. .. . . . . . . .. .......... ...... ...... I..... ............
No"(tyW or Printed)
My Commission expires:
REQUEST FOR RECONVEYANCE
TO TRUSTEE:
The undersigned is the holder of the note or notes secured by this Deed of Trust. Said note or notes, together
with all other indebtedness secured by this Deed of Trust. have been paid in full. You are hereby directed to cancel
said note or notes and this Deed of Trust. which are delivered hereby, and to reconvey, without warranty, all the
estate now held by you under this Decd of Trust to the person or persons legally entitled thereto.
Dated:............. ...... ........ ... .................... ........ ............ ..........
(Spans salott This Line Reserved For Lander snld Rocordar)
sterns secured by this Deed of Trust shall continue unimpaired. U such payment and cure by Borrower,this Dead of Trust
and the obligation secured busby shall remain in full force and effect as if no acceleration had occurred.
20. AalLereem of Rear;ANointmeW of Receiver,fwder in Foo dots. As additional security hereunder,Borrower
busby assions to I ender the mots of the Property, ovided that Borrower shall, prior to aecaleration under paragraph IS
hereof or abandonment of the Property,have the ri t to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 he 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 Pro and to collect the
mob of the Property including those put due. All rents collected by Lender or the receiver shall be a ied first to payment
of the cops of manassmeot of the Property and collection of rents,including,but not limited to, recerver's fen, premiums
on receiver's bonds and reasonable attorney's feu, and then to the sums secured by this Deed of Trust. Lender Rod the
receiver shall be liable to account only for those rents actually received.
21. Pshwe Advances. Upon request of Borrower,Lender,at Lender's option prior to full reconveyance of the Property
by Trustee to Borrower, may make Future Advances to Borrower. Such Future at,=, with interest thereon, shall be
secured by this Deed of Trust when evidenced by promissory notes stating that said notes are secured hereby.
22. Romvsyse . Upon payment of all sums secured by this Deed of Trust,Lender shall request Trustee to reconvey
the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed of Trust
to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled
thereto Such person or person shall pay all costs of recordation,if any.
23. Substitute 7nW*e. Lender, at Lender's option, may from time to time remove Trustee and appoint a successor
trustee to any Trustee appointed hereunder. Without conveyance of the Property, the successor trustee chap succeed to all
the title,power and duties conferred upon the Trustee herein and by applicable law.
24. Request for Notices. Borrower requests that copies of the notice of default and notice of ask be sent to Borrower's
address which is the Property Address.
29. 9taseoeM of ObIgatioa. Lender may collect a fee not to exceed$15 for furnishing the statement of obligation as
provided by Section 2943 of the Civil Code of California.
IN WITNESS WHEREOF,Borrower has executed this Deed of Trust.
............... .. ........ ...... ......................
—�ewrpl�N
............I............ ...... ......................
STATE OF CALIFORNIA.. .... .... ........ .............. .........County ss:
On this. . .. . .. ... ... .day of. .. .. .. .. .... ... 19. .. .,before me,the undersigned,a Notary Public in and
for said State,personally appeared. .. ................ .......... .. .... ...... ............ .. ..........
..... .. .. .. .... .. .... ................ . ..known to me to be the person(s) whose name(s). ...... .. .. ..
subscribed to the foregoing instrument and acknowledged that............... ...executed the same.
WITNESS my hand and official seal. Signature:... .. .. .. ........ .. .... ............ ..........
(Reserved for aftieNl seell
... ...... .. ..........................................
Name(typed or printed)
My Commission expires:
REQUEST FOR RECONVEYANCE
TO TRUSTEE:
The undersigned is the holder of the note or notes secured by this Deed of Trust. Said note or notes, together
with all other indebtedness secured by this Deed of Trust, have been paid in full. You are hereby directed to cancel
said note or notes and this Deed of Trust, which are delivered hereby, and to reconvey, without warranty, all the
estate now held by you under this Deed of Trust to the person or persons legally entitled thereto.
Dated:. .. ........................ ................... .... .. ............................
(Spam lks w This Line Reserved For Lender and Recorder)
SANTA FE FEDERAL SAVINGS AND LOAN ASSOCIATION
Notice to Customer Required by Federal Law and Federal Reserve Regulation 2
Mel Property Transaction Secured by a First Lien on Dwelling
LOAN i1 LOAN AMOUNT$
NAME OF BORROWER(S)
ADDRESS
A ❑ Payments for principal and interest %par annum plus Mori~Insurance of %per annum
on this transaction shell be in monthly installments REPAYMENT SCHEDULE SHOWN BELOW.
❑ Payments for principal and interest %per annum on this transaction shah be in monthly
Installments of S each.
The first payment on this transaction shah begin on the day of '19 and due on
the day of each month thereafter
B The FINANCE CHARGE ON THIS TRANSACTION WILL BEGIN TO ACCRUE ON DATE OF FIRST DISBURSEMENT OF
Loan Proceeds
C CHARGES NOT PART OF FINANCE COSTS D PREPAID FINANCE CHARGE
(Paid from any source)
1 Title Charges $ 1 Loan fee pd by seller $
'2 Recording fees 2 Loan fee pd by Buyer
3 Appraisal fees 3 Int Prepaid to 1 month
4 Credit report prior to First Pmt
5 Notice of Completion 4 Mtge ins ( months)
6 To impounds 5 Tax Service
7 Prepare documents 6 PMI Ins Premium
8 Hazard Insurance(1 yr) 7
9 Photo Inspection Fee 8
10 Escrow Fee 9
'1 1 Termite Fee 10
12
Total Charges S PREPAID FINANCE CHARGE$
Net proceeds(estimated) $
E AMOUNT FINANCED $
'NOTE Any figures in Secfigns C 6 D above with asterisks are estimated
F ANNUAL PERCENTAGE RATE %
G GRADUATED PAYMENT MORTGAGE—This plan provides for increasing monthly payments for a period of
years Deferred interest shall be added to the principal balance monthly The maximum aggregate amoum by
wr)nch ae+erred interest shall increase The principal is$ The principal balance w:1:increase
to$ at the end of line loan year
H LATE CHARGE-in the event paym@nt is not received within 15 days of the date due a late charge of %of the monthly payment must
be paid by Borrower to Lender In Me event of default resulting in commencement of foreclosure proceedings charges costs and fees will be levied
in accordance w,tt•The Civil Code or as may be awarded by the Court
I PREPAIME%' nR:v:LEGE-Tn,s loan may be prepa,c�r.wno:e Da-i as follows
Borrowe'may reoav ine:cia- , ca" '^f,;.a,any time In ine even,or preDavrne^' Bor'owe' Gna ado'r' 'C rhP
o, �a and tares a prepayment Denali, ar amo�in'r c,a *, +it,mon?,c advance,niP,e,'or tree ca" a
v,Pcav ' mace on rr,(_Loaany swerve 1 morn,,pe•ioe w,),c-e>'ceedr Iweniy De'ce-':�' .o' ..-„ _ _
Lf A'ar. wiinpu'penalty
LJ FHA—upon 30 days notice on the first day of any month
J
in the even'o'o,epavment none of the FINANCE CHARGES i, Paragrapr C&El will be recaieci ie Ba•owe
SECl1P'T° INTERES'- The Lender s security interest in Tb T'ansachon 6 a trust oeed covennq rea'prope^y and impoveme�:-:OCatP.^,d
and Carta,oine,nghis and property relaiing thereto all as oescnbed it the trust deed a copy of wn,cn will DF prov,eer. T^:r,s i oeec tiPc.ne`app,c,P
future adva'ice5 and oine'rndebledness the terms of which a,e oescriDeo tnereir The irust deed aisc cove-a"e'a(:au, PC p'oDi io(wfec�)' or
18Ched Ic!hp opsCr:Ded real properly A security agreement will not be taken on furniture fr>,tures and eouionne^'
K INSURANCE-Flre and other hazard insurance protecting the property It written in connection with;his loan may bF opiatnee nv cxi owe'Inr Ouc,any
De,son or nis choice provided however the lender may for reasonabie cause refuse to accep+an iinsure,or.an,stir ms"lance wnlc^ reo""ea n
borrower desires property insurance to be obtained Througn the:ender s designated agency The cos,w:r De bp,to'ln ,a sera a?, ins,.an'e ClatPme^
furn:snec by The agent
L LOAN Column If 1 Column N2 Column N 1 Column 02 Column N 1 Column#2
REPAYMENT 12 monthly with first 12 monthly with first 12 monthly with first
SCHEDULE payments of payment due payments of payment due payments of payment due
Pnncipal and
Finance Charge
(Interest and
Mortgage
Insurance)
Payments Do Not
Include Reserves.
i.e,Taxes.Assess-
ments.Fire or
Flood Insurance
I(We)hereby acknowledge receiving and reading a completed copy of this disclosure along with copies of the documents
provided Notwithstanding any existing agreement with the lender to the contrary,the lender and each borrower understands
that this is not an offer or commitment of the lender to lend.
Borrower Borrower
Borrower Borrower
Date
SF37 REV.4M 10-79 CP33644
DATE
LOAN NO.
SANTA FE FEDERAL SAVINGS AND LOAN ASSOCIATION
701 "E" STREET
SAN BERNARDINO, CALIFORNIA 92403
GENTLEMEN:
WE, THE UNDERSIGNED, UNDERSTAND OUR MONTHLY MORTGAGE PAYMENT
WILL BE APPROXIMATELY $ THIS FIGURE IS BASED
ON THE FOLLOWING BREAKDOWN:
PRINCIPAL AND INTEREST $
TAX IMPOUND $
FIRE INSURANCE IMPOUND $
FLOOD INSURANCE IMPOUND $
PRIVATE MORTGAGE INSURANCE E
FHA MORTGAGE PREMIUM $
TOTAL PAYMENT $
WE ALSO UNDERSTAND THAT THE TOTAL MONTHLY PAYMENT MAY CHANGE
BASED ON THE AMOUNT OF HAZARD INSURANCE WE WILL CARRY ON THE
PROPERTY. WE ARE AWARE THAT THE MONTHLY PAYMENT MAY INCREASE
OR DECREASE EACH YEAR DUE TO INCREASES OR DECREASES IN ANNUAL
TAXES AND/OR INSURANCE PREMIUMS.
SF39 3M 6-78 CP25645
NOTICE REGARDING IMPOUND ACCOUNTS
California Civil Code 2954 provides in part as follows:
(a) No impound, trust or other type of account for payment of taxes on property, insurance premiums
or other purposes relating to the property shall be required as a condition of a real property sale contract or a
loan secured by a deed of trust or mortgage on real property containing only a single-family owner-occupied
dwelling, except: (1) where required by a state or federal regulatory authority; or(2)where a ban is made,
guaranteed, or insured by a state or federal governmental lending or insuring agency; or (3) upon a failure
of the purchaser or borrower to pay two consecutive tax installments on the property prior to the delinquency
date for such payments;or(4)where the original principal amount of such a loan is(i)90 percent or more of
the sale price, if the property involved is sold, or is (ii) 90 percent or more of the appraised value of the
property securing the loan . . . .
(c) As used in this section, "single-family, owner-occupied dwelling" means a dwelling which will be
owned and occupied by a signatory to the mortgage or deed of trust secured by such dwelling within
90 days of the execution of such mortgage or deed of trust.
NOTICE IS HEREBY GIVEN THAT:
1. Establishment of an impound account ❑ shall ❑ shall not be required as a condition to the execution
of the loan or sale agreement; and
2. In the event an impound account is established, interest ❑ shall ❑ shall not be paid on the impound
account.In the event interest is paid, it will be paid at the rate of two percent(2%)simple interest per annum and shall
be credited to Borrower's impound account annually or upon termination of such account, whichever is earlier.
Each of the undersigned acknowledges receiving a copy of this Notice prior to the execution of the loan
or sale agreement.
Date
Borrower Signature
Borrower Signature
SF271 SM 8.78 CP26617
AGREEMENT TO ESTABLISH AN IMPOUND ACCOUNT
This Agreement is made by and between Santa Fe Federal Savings and Loan Association, (hereinafter
referred to as"Association")and the party or parties designated below as Borrower,(herein collectively"Borrower")
Whereas Borrower,upon consummation of a loan in process.identified below,will become indebted
to Association,and
Whereas,the repayment of such indebtedness will be secured by a Deed of Trust for the benefit
of Association encumbering red property owned by Borrower, and
Whereas Borrower and Association desire to establish an impound account to provide funds for
the payment of property taxes.
in connection with the real property secured for the said indebtedness
Now Therefore,in consideration of the mutual covenants herein contained the parties hereto agree
as follows
t Borrower shill pay to Association.in addition to the payment of principal and interest
on the loan,an amount to be held by Association in an impound account for the payment of property
taxes in connection with the real property
secured for the subject ban AN of such payments shall be hereinafter referred to collectively as
'charges'
2 Association shall periodically estimate the annual charges and the monthly payment
required to provide adequate funds for the timely payment of each of the charges and shall notify
Borrower of the monthly payment to be made to the impound account to provide sufficient funds
therein for the timely payment of all charges Borrower shall pay monthly in advance at the time of
payment of principal and interest on the subject ban such estimated amount
3 At the inception of the ban Association may pay into the impound account from the
loan proceeds an amount sufficient,when added to estimated monthly impound payments.to assure
timely payment of charges which will become due within five months after the disbursement of the
ban proceeds
4 Borrower shall. upon request of Association. promptly deposit additional sums into
the impound account to cover any deficiency in the amount required for timely payment of charges
5 Association shall pay, prior to delinquency,all charges of which it has actual knowl-
edge provided that sufficient funds to fully pay each charge are in the impound account not less
than 15 days prior to the delinquency of such charge, and further provided that Borrower is not
then delinquent under the subject loan
6 In the event of default by Borrower in the payment of any installment or portion thereof
required by the note or notes evidencing the subject ban or in the performance of any obligation
of Borrower under the trust deed securing repayment of the subject ban, then in either of such
events,and at any time during the continuance of any thereof.Association is authorized to pay from
the impound account
a all or any part of such delinquent installments and
b all or any part of the cost of or expense incurred in curing the default under the
said trust deed
7. Interest at the rate of two percent(2%)simple interest per annum_shall_shall
not be paid by Association to Borrower on funds held in the impound account Interest shall be
credited to Borrower's impound account annually or upon termination of such account, whichever
is earlier
6 No charge shall be made by Association to Borrower for services rendered by
Association in connection with this Agreement
Borrower Name
Loan No Date of Agreement
(Borrower Signature)
SANTA FE FEDERAL SAVINGS AND
LOAN ASSOCIATION,a corporation
(Borrower Signature)
By
SF270 3M 2.79 CP29432
NOTICE OF REQUIREMENT FOR EARTHQUAKE INSURANCE
AND ACKNOWLEDGEMENT OF NOTICE
IN CONNECTION WITH THE LOAN WHICH IS CURRENTLY BEING
MADE TO OR ASSUMED BY YOU, SANTA FE FEDERAL SAVINGS
AND LOAN ASSOCIATION REQUIRES EARTHQUAKE INSURANCE
COVERAGE BE PROVIDED AT ALL TIMES DURING THE LIFE OF
THE LOAN. BORROWER ACKNOWLEDGES RECEIPT OF THIS NO-
TICE.
LOAN NUMBER
PROPERTY ADDRESS
DATE
RECEIPT OF A COPY OF THIS NOTICE IS HEREBY ACKNOWLEDGE:
Date
MIMAL NATIONAL MORTGAGE ASSOCIATION
AFFIDAVIT OF PURCHASER AND VENDOR
1. FARTIES: (Name ash address)
Lender
MorWW Insurer
(If ggbcabie)
Property VwWor
Pr"a y Pmeheser
il. FROPMTY ADDRESS OR LEGAL DNCRIFTION:IAttach suppismenul Sheet if mcnearyl
III. THE PURPOSE OF THE IRAN ON THIS PROPERTY IS:
O To purchase it from the above vendors—TOW Purchase Prig...............................t
❑To refinance outstanding debt.
0 Other(Explain)
IV. FINANCIAL TERMS:
First Mortgage Amount ...................................................................t
Cash Equity INot necessary for ntiaaacel .............................................. ......
Secondary Financing:
Amount ....................................................................... .......
Interest Rate %Term I Mos)
Monthly Payment t
Name and Address of Holder:
Other(Explain I
Total Purchase Price INot necessary for refinance) ..............................................t
V. LIENS: If this ban exceeds W%of the appraised value or the purchase price of the property described in Item 11 above,no lien or charge
upon such property has been given or executed or has been contracted or agreed to be so given or executed by Property Purchaser to any
person.including Property Vendor,except for(1 I liens disclosed in Item TV hereof.or(2)lien&or charges which will be discharged from the
proceeds of the subject mortgage.
V1. OCCUPANCY: Purchaser is now actually occupying the property described in Item 11 above or in good faith intends to so occupy such
property an the principal residence
VII INDUCEMENT:The certifications of this Affidavit are for the purpose of inducing the Lander named above or its assignees to make or
purchase the first mortgage described by this Affidavit,and inducing the Mortgage Insurer,if any,to insure such ban.Those executing
this Affidavit acknowledge that if this loan exceeds 80%of the value or purchase price of the property and is made by a Federal Savings and
Loan Association,and/or is subsequently purchased by a Federal Savings and Loan Association,the certification of this Affidavit shell be
used for the purpose of inducing a Federal Savings and Loan Association to enter into such transaction and that the provisions of Section
1014 of Title 18,United States Code,which provide in part"Whoever knowingly makes any false statement or report for the purpose of
influencing in any way the action of ..a Federal Savings and Loan Association...upon any application...shall be fined not more than
$6,000 or imprisoned not more than two years or both,"an applicable to such transaction.
VIII. PROPERTY VENDOR:The PROPERTY VENDOR hereby certifies that,to the extent PROPERTY VENDOR is a party,the Financial
Terms.including Total Purchase Price,and the Liens are as set forth in Items III and TV above,hereby acknowledges the inducement
purpose of this Affidavit as set forth in Item VII above,and certifies that certain of the prepaid expenses involved in the transaction(i.e.
interest charges,real estate taxes,hazard insurance premiums,and private mortgage insurance renewal premiums)have not been paid by
the vendor on behalf of the property purchaser.
Sworn to and subscribed before me
(Signature) this day of 19_
1Sigaature1 Notary Public for
County,State of
(Signacnro)
1 Notarial Seal I
18igratun I
Date
IX. PROPERTY PURCHASER:The PROPERTY PURCHASER hereby certifies that the Financial Terms,including Total Purchase Price,
the Lions and Occupancy are as set forth in Items 111,IV,and VI above,and hereby acknowledges the inducement purpose of this
Affidavit as set forth in Item VII above.
Sworn to and subscribed before me
(Signaturol this day of 19_
16ignature) Notary Public for
County.State of
18igaacun I
1 Notarial Seal l
ISigaatural
Date
X. LENDER:Lender,by execution hereby,represents that the aforementioned statements are$rte and cornet to the best of its knowledge.
(Lsoderl
by (Signature) ITtrla)
Date
LENDER USE ONLY Value t
Mortgage t Percent of loan to Value %.
This form should be executed by purehaesrl s).vsndorl e I and lender no later than the date on which any disbursement on the ban is nude.
SF274 25C 10-79 CP34029 FNMA FORM 100&Jan.77