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<br />e <br /> <br />. <br /> <br />91217996 <br /> <br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as <br />follows: <br /> <br />1. Payment of Principal and Interest. Borrower shall promptly pay <br />when due the principal of and interest on the debt evidenced by the Note. <br /> <br />2. Application of Payments. All payments under paragraph 1 shall be <br />applied: first, to any interest due; and second, to any principal due. <br /> <br />3. Prior Deeds of Trust; Charges; Liens. The Borrower shall perform all <br />of the Borrower's obligations under the Senior Deeds of Trust, including Borrower's <br />covenant to make payments when due. Borrower shall pay all taxes, assessments, <br />charges, fines and impositions attributable to the Property which may attain priority <br />over this Security Instrument. Borrower shall pay these obligations on time directly <br />to the person owed payment. <br /> <br />Except for the lien of the Senior Deeds of Trust, Borrower shall promptly <br />discharge any other lien which shall have attained priority over this Security <br />Instrument unless Borrower: (a) agrees in writing to the payment of the obligation <br />secured by the lien in a manner acceptable to Lender; (b) contests in good faith the <br />lien by, or defends against enforcement of the lien in, legal proceedings which in the <br />Lender's opinion operates to prevent the enforcement of the lien; or (c) secures from <br />the holder of the lien an agreement satisfactory to Lender subordinating the lien to <br />this Security Instrument. Except for the lien of the Senior Deeds of Trust, if Lender <br />determines that any part of the Property is subject to a lien which may attain priority <br />over this Security Instrument, Lender may give Borrower a notice identifying the lien. <br />Borrower shall satisfy such lien or take one or more of the actions set forth above <br />within ten (10) days of the giving of notice. <br /> <br />4. Subordination. Lender and Borrower acknowledge and agree that this <br />Security Instrument is subject and subordinate in all respects to the liens, terms, <br />covenants and conditions of the Senior Deeds of Trust and to all advances heretofore <br />made or which may hereafter be made pursuant to the Senior Deeds of Trust <br />including all sums advanced for the purpose of protecting or further securing the lien <br />of the Senior Deeds of Trust, or curing defaults by the Borrower under the Senior <br />Deeds of Trust. <br /> <br />Mission Bell Retrofit <br />Deed of Trust ($25,000.00) <br />July 24, 1997 <br /> <br />Page 3 of 11 <br />