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in lieu of condemnation, are hereby assigned and shall be paid to the Agency subject to the terms and rights of the First Deed of Trust. (B) In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property, unless Borrower and the Agency otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (l) the total amount of the sums secured immediately before the taking, divided by (2) the fair market value of the Property immediately before the taking. Any balance shall be paid to the Borrower. (C) if the Property is abandoned by Borrower, or if, after notice by the Agency to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to the Agency within thirty (30) days after the date such notice is mailed, the Agency is authorized to collect and apply the proceeds of any award to the sums secured by this Deed of Trust. (D) Unless the Agency and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of payment or payments specified in the Note or change the amount of such payment or payments. 13. Forbearance by the Agency Nota Waiver. Any forbearance by the Agency in exercising any right or remedy will not be a waiver of the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by the Agency will not be a waiver of the Agency's right to accelerate the maturity of the indebtedness secured by this Deed of Trust. 14. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this Deed of Trust or any other document, or afforded by law or equity, and may be exercised concurrently, independently or successively. 15. Successors and Assigns Bound. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the Agency and Borrower subject to the provisions of this Deed of Trust. 16. Joint and Several Liability. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the Agency and Borrower, subject to the provisions of paragraph 29 hereof. All covenants and agreements of Borrower shall be joint and several. 17. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Deed of Trust will be given by certified mail, addressed to Borrower at the address shown in the first paragraph of this Deed of Trust or such other address as Borrower may designate by notice to the Agency as provided herein, and (b) any notice to the Agency will be given by express delivery, return receipt requested, to the Agency at the address shown in the first paragraph or to such other address as the Agency may designate by notice to Borrower as provided above. Notice shall be effective as of the date received by Agency as shown on the return receipt. 18. Governing Law. This Deed of Trust shall be governed by federal law and the law of the State of California. 19. Severability. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict will not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and the Note are declared to be severable. Redwood City First Time Homebuyer Silent Loan Program Deed of Trust April 23, 2000 III�INIUI�IIIIVIII�I�IIIIINIIIIININIIIIV '&3'=:m,'s"`