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Inst 97277997
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Inst 97277997
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Last modified
12/12/2006 10:15:20 AM
Creation date
5/1/2006 5:21:52 PM
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CM City Clerk-City Council
Document Date (6)
9/2/1997
Recorded Document Type
Deed of Trust
Retention
PERM
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<br />e <br /> <br />e <br /> <br />91277997 <br /> <br />included within the term "extended coverage" and any other hazards, including floods <br />or flooding. <br /> <br />All insurance policies and renewals shall include a standard mortgage clause. <br />Lender shall be named as a loss payee as its interest may appear. In the event of loss, <br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may <br />make proof of loss if not made promptly by Borrower. <br /> <br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall <br />be applied to restoration or repair of the Property damaged, if the restoration or repair <br />is economically feasible and Lender's security is not lessened. If the restoration or repair <br />is not economically feasible or Lender's security would be lessened, the insurance <br />proceeds shall be applied to the sums secured by this Security Instrument, whether or <br />not then due, with any excess paid to Borrower. If Borrower abandons the Property, or <br />does not answer within thirty (30) days a notice from Lender that the insurance carrier <br />has offered to settle a claim, then Lender may collect the insurance proceeds. Lender <br />may use the proceeds to repair or restore the Property or to pay sums secured by this <br />Security Instrument, whether or not then due. The thirty (30) day period will begin <br />when the notice is given. <br /> <br />6. Operation, Preservation, Maintenance and Protection of the Property. <br />Borrower shall not destroy, damage or impair the Property, allow the Property to <br />deteriorate, or commit waste on the Property. Borrower further covenants and agrees <br />to keep said Property in good condition and repair, not to remove or demolish any <br />building thereon without first obtaining prior written approval of Lender; to complete <br />or restore promptly and in good and workmanlike manner any building which may be <br />constructed, damaged, or destroyed thereon and to pay when due all claims for labor <br />performed and materials furnished therefor; to comply with all laws affecting said <br />Property or requiring any alternations or improvements to be made thereon; not to <br />commit, suffer or permit any act upon said Property in violation of law; to cultivate, <br />irrigate, fertilize, fumigate, prune and do all other acts which from the character or use <br />of said Property may be reasonably necessary to maintain the Property in an <br />aesthetically pleasing condition, the specific enumerations herein not excluding the <br />general. <br /> <br />(a) Default. Borrower shall be in default if any forfeiture action or <br />proceeding, whether civil or criminal, is begun that in Lender's good faith judgment <br />could result in forfeiture of the Property or otherwise materially impair the lien created <br /> <br />Mission Bell Retrofit <br />Deed of Trust <br />July 24, 1997 <br /> <br />Page 4 of 10 <br />
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