|
I . Title. That Borrower is lawfully seized of the estate hereby conveyed and has the right to grant
<br />and convey the Property, and that Borrower will warrant and defend generally the title of the Property against all
<br />claims and demands subject to any declarations, easements, or restrictions listed in the schedule of exemptions
<br />to coverage in any title insurance policy insuring Agency's interest in the Property, and that other than this Deed
<br />of Trust, the Security is encumbered only by the following priority lien senior to this deed: (1) that deed of trust
<br />(the "First Lender Deed of Trust") executed by Borrower in connection with a loan made to Borrower by Chase
<br />Manhattsa Mortgage Co (the "First Lender"), securing a promissory note executed by Borrower in favor of the
<br />First Lender ("First Lender Note") and (2) the Note.
<br />2. Repayment of Loan. Borrower will promptly repay, when due, the principal, interest (if any),
<br />and any late charges due and required by the Note and such other amounts as are provided under this Deed of Trust
<br />or under the Note.
<br />Preservation and Maintenance of Property.
<br />(A) Borrower covenants to keep the Property in good condition and repair, not to remove or
<br />demolish any building thereon; to complete or restore promptly and in good and workmanlike manner any building
<br />which may be constructed, damaged or destroyed thereon and to pay when due all claims for labor performed and
<br />material furnished therefor; to comply with all laws affecting the Property or requiring any alterations or
<br />improvements to be made thereon; not to commit or permit waste thereof; not to commit, suffer or permit any act
<br />upon the Property in violation of law; to cultivate, irrigate, fertilize, fumigate, prune, and do all other acts which
<br />form the character of the Property may be reasonably necessary, the specific enumerations herein not excluding
<br />the general.
<br />(B) If this Deed of Trust is on a unit in a condominium, stock cooperative, or a planned unit
<br />development, Borrower shall perform all of Borrower's obligations under the declaration or covenants creating
<br />or governing the condominium, stock cooperative, or planned unit development, and constituent documents. If
<br />a condominium, stock cooperative, or planned unit development rider is executed by Borrower and recorded
<br />together with this Deed of Trust, the covenants and agreements of such rider shall be incorporated into and shall
<br />amend and supplement the covenants and agreements of this Deed of Trust as if the rider were a part hereof.
<br />4. Appear and Defend. Borrower shall appear in and defend any action or proceeding purporting
<br />to affect the security hereof or the rights or powers of the Agency or Trustee; and to pay all costs and expenses,
<br />including cost of evidence of title and attorney's fees in a reasonable sum, in any such action or proceeding in
<br />which the Agency or Trustee may appear, and in any suit brought by the Agency to foreclose this deed.
<br />5. Prior Deeds of Trust, Charges: Liens. Borrower shall pay all taxes, assessments, charges, fines
<br />and impositions attributable to the Property which may attain priority over this Deed of Trust, and leasehold
<br />payments or ground rents, if any. Borrower shall make payment on time directly to the person owed payment.
<br />Borrower shall make such payments when due, directly to the payee.
<br />Except for the lien of the First Deed of Trust, Borrower shall promptly discharge any other lien which
<br />shall have attained priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment
<br />of the obligation secured by the lien in a manner acceptable to the Agency; (b) contests in good faith the lien by,
<br />or defends against enforcement of the lien in, legal proceedings which in the Agency's opinion operate to prevent
<br />the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Agency
<br />subordinating the lien to this Security Instrument. Except for the lien of the First Deed of Trust, if Agency
<br />determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument,
<br />Agency may give Borrower a notice identifying the lien. Borrower shall satisfy such lien or take one or more of
<br />the actions set forth above within ten (10) days of the giving of notice.
<br />6. Subordination. Agency and Borrower acknowledge and agree that this Deed of Trust is subject
<br />and subordinate in all respects to the liens, terms, covenants and conditions of the First Lender Deed of Trust and
<br />Redwood City First Time Homebuyer Silent Loan Program Deed of Trust April 23, 2000
<br />Illlllllllilllilllllllllllllllllllllllllllllllllllllll ,"'�'•8 ,"_"
<br />
|