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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 />97277997 <br /> <br />10. Notices. Any notice to Borrower provided for in this Security Instrument <br />shall be given by delivering it or by mailing it by first class mail. The notice shall be <br />directed to the Property Address or any other address Borrower designates by notice to <br />Lender. Any notice to Lender shall be given by first class mail to Lender's address stated <br />herein or any other address Lender designates by notice to Borrower. Any notice <br />provided for in this Security Instrument shall be deemed to have been given to Borrower <br />or Lender when given as provided in this paragraph. <br /> <br />11. Governing Law; Severability. This Security Instrument shall be governed <br />the laws of the State of California. In the event that any provision or clause of this <br />Security Instrument or the Note conflicts with applicable law, such conflict shall not <br />affect other provisions of this Security Instrument or the Note which can be given effect <br />without the conflicting provision. To this end the provisions of this Security Instrument <br />and the Note are declared to be severable. <br /> <br />12. Borrower' Copy. Borrower shall be given one copy of the Note and the <br />Security Instrument. <br /> <br />13. Transfer of the Property or a Beneficial Interest in Borrower. If all or <br />any part of the Property or any interest in it is sold or transferred without prior written <br />notice to Lender and Lender's prior written consent which shall be granted upon written <br />acknowledgment by buyer or transferee of his or her assumption of all conditions and <br />covenants of this Deed of Trust, Promissory Note, Owner Participation Agreement and <br />Regulatory Agreement, Lender may require immediate payment in full of all sums <br />secured by this Security Instrument. <br /> <br />If Lender exercises this option, Lender shall give Borrower prior written notice of <br />acceleration. The notice shall provide a period of not less than thirty (30) days from the <br />date the notice is delivered or mailed within which Borrower must pay all sums secured <br />by this Security Instrument. If Borrower fails to pay these sums prior to the expiration <br />of this period, Lender may invoke any remedies permitted by this Security Instrument <br />or other applicable law without further notice or demand on Borrower. <br /> <br />Notwithstanding Lender's right to invoke any remedies hereunder, Lender agrees <br />that it will not commence foreclosure proceedings or accept a deed in lieu of foreclosure, <br />or exercise any other rights or remedies hereunder until it has given the Senior Lien <br />Holders at least sixty (60) days' prior written notice. <br /> <br />Mission Bell Retrofit <br />Deed of Trust <br />July 24, 1997 <br /> <br />Page 6 of 10 <br />
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