RecDoc2002-073766 - Laserfiche WebLink

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I . Title. That Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property, and that Borrower will warrant and defend generally the title of the Property against all claims and demands subject to any declarations, easements, or restrictions listed in the schedule of exemptions to coverage in any title insurance policy insuring Agency's interest in the Property, and that other than this Deed of Trust, the Security is encumbered only by the following priority lien senior to this deed: (1) that deed of trust (the "First Lender Deed of Trust") executed by Borrower in connection with a loan made to Borrower by Chase Manhattan Mortgage Co.(the "First Lender"), securing a promissory note executed by Borrower in favor of the First Lender ("First Lender Note") and (2) the Note. 2. RepavmentofLoan. Borrower will promptly repay, when due, theprincipal, interest (if any), and any late charges due and required by the Note and such other amounts as are provided under this Deed of Trust or under the Note. Preservation and Maintenance of Property. (A) Borrower covenants to keep the Property in good condition and repair, not to remove or demolish any building thereon; to complete or restore promptly and in good and workmanlike manner anybuilding which may be constructed, damaged or destroyed thereon and to pay when due all claims for labor performed and material furnished therefor; to comply with all laws affecting the Property or requiring any alterations or improvements to be made thereon; not to commit or permit waste thereof, not to commit, suffer or permit any act upon the Property in violation of law; to cultivate, irrigate, fertilize, fumigate, prune, and do all other acts which form the character of the Property may be reasonably necessary, the specific enumerations herein not excluding the general. (B) If this Deed of Trust is on a unit in a condominium, stock cooperative, or a planned unit development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating or governing the condominium, stock cooperative, or planned unit development, and constituent documents. If a condominium, stock cooperative, or planned unit development rider is executed by Borrower and recorded together with this Deed of Trust, the covenants and agreements 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 part hereof. 4. Appear and Defend. Borrower shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Agency or Trustee; and to pay all costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in which the Agency or Trustee may appear, and in any suit brought by the Agency to foreclose this deed. 5. Prior Deeds of Trust: Charges: Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Deed of Trust, and leasehold payments or ground rents, if any. Borrower shall make payment on time directly to the person owed payment. Borrower shall make such payments when due, directly to the payee. Except for the lien of the First Deed of Trust, Borrower shall promptly discharge any other lien which shall have attained 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 the Agency; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Agency's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Agency subordinating the lien to this Security Instrument. Except for the lien of the First Deed of Trust, if Agency determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Agency may give Borrower a notice identifying the lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten (10) days of the giving of notice. Redwood City First Time Homebuyer Silent Loan Program Deed of Trust April 23, 2000 Page 2 IIIIIIIIIIIIIIPIIIIIIIIIIIIIIIIIiIII',IIIIIIIIIIIIIIII "02ee""5