RecDoc95-076959 2010 Broadway - Laserfiche WebLink

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under the First Deed of Trust, or diligently pursued curing the default as determined by the Senior Lien Holder, within the 60 -day period provided in such notice sent to the Lender. 6. Subordination - Home Loan Deed of Trust. Lender and Borrower acknowledge and agree that this Security Instrument is subject and subordinate in all respect to the liens, terms, covenants and conditions of the Home Loan Deed of Trust and to all advances heretofore made or which may hereafter be made pursuant to the Home Loan Deed of Trust including all sums advanced for the purpose of (a) protecting or further securing the lien of the Home Loan Deed of Trust, curing defaults by the Borrower under the Home Loan Deed of Trust or for any other purpose expressly permitted by the Home Loan Deed of Trust or (b) constructing, renovating, repairing, furnishing, fixturing or equipping the Property. The terms and provisions of the Home Loan Deed of Trust are paramount and controlling, and they supersede any other terms and provisions hereof in conflict therewith. In the event of a foreclosure or deed in lieu of foreclosure of the Home Loan Deed of Trust, any provisions herein or any provisions in any other collateral agreement restricting the use of the Property to low or moderate income households or otherwise restricting the Borrower's ability to sell the Property shall have no further force or effect on subsequent owners or purchasers of the Property. Any person, including his/her successors or assigns (other than the Borrower or a related entity of the Borrower), receiving title to the Property through a foreclosure or deed in lieu of foreclosure of the Home Loan Deed of Trust shall receive title to the Property free and clear from such restrictions. Further, if the Senior Lien Holder acquires title to the Property pursuant to a deed in lieu of foreclosure, the lien of this Security Instrument shall automatically terminate upon the Senior Lien Holder's acquisition of title, provided that (1) the Lender be given written notice of a default under the Home Loan Deed of Trust and (ii) the Lender shall not have cured the default under the Home Loan Deed of Trust, or diligently pursued curing the default as determined by the Senior Lien Holder, within the 60 -day period provided in such notice sent to the Lender. 7. Hazard or Property Insurance. Borrower shall keep 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 floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 8. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. All requirements hereof pertaining to insurance shall be deemed satisfied if the Borrower complies with the insurance requirements under the First Deed of 5 STANDARD DEED OF TRUST