1992-336446. M&ITY NATIONAL TMIR
WHEN RECORDED MAIL TO 2 1
CALIFORNIA UNITED DANK, N.A.".
16030 VENTURA BOULEVARD .
SUITE 125
ENCINO, CALIFORNIA 91436.4487 -
LOAN #0008031 P
DOC # 1992-0336446
02-JUN-1992 08+00 AM
OFFICIAL RECORDS
SAN DIEGO COMP RECORDER'S OFFICE
AMITE EVANS, COUNTY RECORDER
RF, 9,00 FEES, 23.00
AF1 13.00
IR't 1,00
[SPACE ABOVE THIS LINE FOR RECORDING DATA]
DEID OF TRUST
THIS DEED OF TRUST ('Security Instrument') is made on MAY
ALFRED L. LOURO AND MARYLOU LOURO, HUSBAND AND WIFE, AS COMMUNITY
PROPERTY
The trustee is
GATEWAY TITLE COMPANY, A CALIFORNIA CORPORATION
The beneficiary is
CALIFORNIA UNITED BANK, N.A.
which is organized and existing under the laws of CALIFORNIA
and whose address is
16030 VENTURA BOULEVARD SUITE.125; ENCINO, CALIFORNIA 91436-4487
("Borrower').
('Trustee').
('Lender").
Borrower owes Lender the principal sum of
ONE HUNDRED SEVENTY TWO THOUSAND 00/100-----------------------------------------
Dullars (U.S. $ 172, 000.00 'Ibis debt is evidenced by Borrower's note dated the same date as this Security Instrument
("Note'), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on JUNE 01, 2007.
This Security Instruimt secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals,
extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the
security of this Security instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument
and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following
described property located in SAN DIEGO County, California: '
LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF
OCCUPANCY RIDER ATTACHED HERETO AND MADE A PART HEREOF
which has the address of 1250 SAN DIRGUITO DRIVEi ENCINITAS,
(Street)
California 92024 ('Property Address');
(City) (Zip Code)
6
X,
M<
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m'
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and
fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument.
All of the foregoing is referred to in this Security Instrument as the 'Property."
BORROWER COVENANTS that Borrower is lawfully seised of the esmte hereby conveyed and has the right to grant and
convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend
generally the title to the Property against all claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited ' 'te
-tea:
variations by jurisdiction to constitute a uniform security instrument covering real property.
CALIFORNIA - Single Family - Fannie Mae(Freddie Mae UNIFORM! INSTRUMENT Form 3005 9190
lists DEEDCSS sxMM P-ge I of 5
ORIGINAL
22, 1992 . The trustor is
2314
UNIFORM COVENANTS. Borrower and lender covenant and agroo u follows: "
1. Payment of Principal and Inkrest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal
of and Interest on the debt evidenced by the Note and any prepayment sad late charges due under the Note.
2.'Flmds for Taxes and Insurance. Subject to applicable late or. to a Written waiver by Lender, Borrower dull pay to Lender
on the day monthly payments. are due under the Note, until the Note is paid in full, -a . sum ('Funds') for: (a) yearly taxes and
'assessments which may attain priority over this Security Instrument u a lien on the Property; (b) yearly leasehold payments or
ground rent>_on,the Property, if any; (c) yearly Ward or property Insurance premiums; (d) yearly flood insurance premiums, if any;
(o) yearly mortgage insurance premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with the provisions
of paragraph 8, in lieu of the payment of mortgage insurance premiums. These item are called 'Escrow Items.' Lender may, at
any time, collect and hold Funds in an amount not to exceed the maximum omount a fader for a federally related mortgage loan
may require for Borrower's escrow account under the federal Rent Estate Settitvramt Procedures Act of 1974 as amended from time
to time, 12 U.S.C. 12601 er seq. ('RESPA% unless another law that applies to the Funds sets a leaser amount. If so, Lender
nary, at any time, collect and hold Funds in an amount not to exceed the lesser;mwunt. Lender may admate the amount of Funds
due on the basis of current data and reasonable estimates of expadltumsi ur future Escrow items or otherwise in accordance with
applicable law.
The Funds shall be held in an institution whose deposits arc insured by s federal agency, Instrumentality, or entity (including
Lender, if Lender is such an institution) or in any Federal Home Loan Bank. Lender "I apply the Funds to pay the Escrow Items.
Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the
Escrow Items, unless lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge.
However, Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service used by
Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or applicable law
requires interest to be paid, Lender shallnol be required to pay Borrower any interest or earnings on the Foods. Borrower and
Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was
made. The Funds are, pledged as additional security for all sums secured by this Security Instrument.
If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower for
the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any lime is
not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower shell pay to
Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve monthly
payments, at Lender's sole discretion.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds
held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the acquisition or sale of the
Property, shall apply any Funds held by Lender at the time of acquisition or sale m a credit against the sums secured by this
Security instrument.
3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs I
and 2 should be applied: first to amounts payable under paragraph 2; second to interest; and last to principal.
4. Charges: Liens, Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property
which my attain priority over this Security Instmment, and leasehold payments or ground rents, if any. Borrower shall pay these
obligations in the rnwr:ar provided in paragraph 2, or if not paid in that manner, Burrower shall pay them on time directly to the
person owed payment. Borrower shall promptly famish to Lender all notices of amounts to be paid under this paragraph. If
Borrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the payments.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in
writing to the payment of the obligation secured by the lien in a mmner acceptable to Lender; (b) contests in good faith the lien by,
or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of
the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security
Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security
Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the
actions set forth above within 10 days of the giving of notice.
5. Hazard or Property Laurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
insured against loss by fire, hazards included within the term 'extended coverage' and any other hazards, including floods or
flooding, for which lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender
requires. Tho insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to
protect Lender's rights in the Property in accordance with paragraph 7.
All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall
have the right to hold the policies and renewals. If lender requires, Borrower shall promptly give to lender all receipts of paid
premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender
may make proof of loss if not made promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the
Property damaged, if rite restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or
repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums
secured by this Security instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property,
or does not answer within 30 days a notice from !.ender that the insurance carrier has offered to settle a claim, then Lender may
collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security
Instrument, whether or not then due. The 30-day period will begin when the notice is given.
Unless Leader and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone
the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments. If under paragraph
21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting fmm damage to the
Property prior to the acquisition shall pass to tender to the extent of the suns secured by this Security Instrument immediately prior
to the acquisition.
6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds.
Borrower shall occupy, establish, and use the Property a Borrower's principal residence within sixty days after the execution of this
Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of
occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the
Property to deteriorate, or commit waste on the Property: •Borrower shall be in default if any forfeiture action or proceeding,
CALIFORNIA - Single Family
seta nPF-0CA3 env
LOAN # 0008031
Fannie Mae/Fred lie Mac UNIFORM INSTRUMENT
Page 2 of 5
. ORIGINAL
Form 3005 9/0.0
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whether civil or criminal, is begun that In Lender's goal faith judgment could result in -forfeiture of the Property or otherwise
materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and
reinstate, as provided in paragraph,18, by causing the action or proceeding to be dismissed with a ruling that,,in Larder's good faith
determination, precludes ferfeituree of the Borrower's Into" in the Property or other material impairment of the lien created by this
Security Instrument or Lenders security interest. Borrower shall also be in default if Borrower, during the loan application process,
gave materially false or inaccurate Information or statements to Lender (or failed to provide I.endef with any material information)
In connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy
of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower stall comply with all the provisions
of the jease: If Borrower acquires fee title to the Property, the leasehold and the fa: title shall not merge unleaa Lender agrees to the
merger in writing.
7. Protection of Lender's Rights In the Property. If Borrower fails to perform-the covenants and agreements contained in
this Security instrument, or there is a legal proceeding that may significantly affect leader's rights in the Property (such as a
proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay
for whatever is necessary to protect the value bf the Properly and tender's, rights in the Property. Lender's actions may include
paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys'
fees and entering on the Property to make repairs... Although Lender may take action under this paragraph 7, Lender does not have
to do so.
Any amounts disbursed by lender under this paragraph 7 shall become additional debt of Borrower secured by this Security
Instrument. Unless Borrower and lender agree to other terms of payment, these aniounts shall bear interest from the dale of
disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment.
8. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security
Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the
mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain
coverage substantially equivalent to the mortgage insurance previously in effect, ht a cost substantially equivalent to the cost to
Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Lender. If substantially
equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal to one-twelfth of the
yearly mortgage insurance premium being paid by Borrower when the insurance coverage lapsed or ceased to be in effect. Lender
will accept, use and retain these payments as a loss reserve in lieu of mortgage insurance. Loss reserve payments may no longer be
required, at the option of tender, if mortgage insurance coverage (in the amount and for the period that Lender requires) provided
by an insurer approved by lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain
mortgage insurance in effect, or to piavide a loss reserve, until the requirement for mortgage insurance ends in accordance with any
written agreement between Borrower and Lender or applicable law.
9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give
Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby wiped and shall
be paid to Lender.
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 in which the fair market
value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security
Instrument immediately before the taking, unless Borrower and Lender 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: (a) the total amount of the sums
secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any
balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property
immediately before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower and
Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured
by this Security Instrument whether or not the sums are then due.
If the Property is abandoned by Borrower, or if, after notice by lender to Borrower that the condemnor offers to make an
award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is
authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by
this Security Instrument, whether or not then due.
Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone
the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of
amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not
operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to
commence proceedings against soy successor in interest or refuse to extend time for payment or otherwise modify amortization of
the sums secured by this Security Instrument by reason of any demand made by the original Harrower or Borrower's successors in
interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right
or remedy.
12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security
Instrument shall bind and benefit the successors and assigns of lender and Borrower, subject to the provisions of paragraph 17.
Borrower's covenants and agreements shall bejoint and several. Any Borrower who co-sips this Security Instrument but does not
execute the Note: (a) is cc-signing this Security Instrumeui only to mortgage, grant and convey that Borrower's interest in the
Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
Instrument; and (c) agrees that I-ender and any other Borrower may agree to extend, modify, forbear or make any accommodations
with regard to the terms of this Security Instrument or the Note without that Borrower's consent.
13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and
that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed
the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted
limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender
may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a
refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note.
14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by nailing it
by first elms maul unless applicable law requires use of another method. 71o notice shall be directed to the Property Address or
any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class nail to Lender's
LOAN 0 0008031
CALIFORNU - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3005 9/90
Bate ewrocas OM Pte 3 of 5
ORIO2911L
MIT
2316
addrosa slated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security
Instrument shall be deemed to have been given to Borrower or Leader when given as provided In this por iSmith.
IS. Gononting Law; Setenbli ty, This Security Instrument ahiB be governed by fodend law iii f the IoW of the jurisdiction
in which the Property is located, In the event that any provision or c" of this Security Instrument or the. Note conflicts with
applicable law, such conflict shall not affect other provisions of tha'security Initivmml or the Note wbich'uq be given effect
without the conflicting provision. To this end the provisions of this Security Instrument and the Note am declared to be severable.
16, Borrower's Copy. Born woe shall be given one confomKd.copy of the Note and of this.Security Instrument.
17. Transfer of the property or a Beneficial Interest In Borrower, If all of any part otibe,Property or any interest in it is
sold or transferred (or if it beneficial interest in Borrower Is sold ,or transferred and Borrower Ic not a natural person) without
Lender's prior written consent, Lender may, at ite.option, require immediate payment in full of all 'sums secured by this Security
Instrument. However, this option shall io -be exercised b"y Lender if exercise is prohibited by federal law as ~of the date of this
Security Instrument.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. ,The -notice shall provide a period of not less
than 30 days from the date the notice is delivered or mailed within which Barrower mast, pay all sums secured by this Security
Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by
this Security Instrument without further notice or demand on Borrower.
is. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement
of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may
specify for reinstatement) before We of the Property pursuant to any power of sale contained in this Security Instrument; or (b)
entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then
would be due under this Security Instrument and the Note m if an acceleration had occurred; (b) cures any default of any other
covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to,
reasonable attorneys' free; and (d) lakes such action as Lender may reasonably require to assure that the lien of this Security
Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums, secured by this Security Instrument shall
continue unchanged. Upon reinstatement by Borrower, this Security instrument and the obligations secured hereby shall remain
fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under
paragraph 17.
19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security
Instrument ) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as
the "Loan Servicer") that collects monthly payments due under the Note and this Security Instrument. There also may be one or
more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given
written notice of the change in accordance with paragraph 14 above and applicable law. The notice will stale the name and address
of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information
required by applicable law.
20. Hazardous Substances. Borrower shall not cause or permit the presence,; use, disposal, storage, or release of any
Hazardous Subtances on or in the Property. Borrower shall not do, nor allow anyone else to do, anylh:ng affecting the Property that
is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the
Property of small quantities of Hazardous Subtances that are generally recognizes to be appropriate to normal residential uses and to
maintenance of the Property.
Borrower shall promptly give Leader written notice of any investigation, claim, demand, lawsuit or other action by any
governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of
which Borrower has actual knowledge. If Borrower leams, or is notified by any governmental -or regulatory authority, that any
removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all
necessary remedial actions in accordance with Environmental Law.
As used in this paragraph 20, 'Hazardous Substances' are thole substances defined as toxic or hazardous substances by
Environmental Law and the fallowing substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides
and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this
paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to
health, safety or environmental protection.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of
any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 useless applicable
law provides otherwise). The notice shall specify: (a) the default; (h) the action required to clue the default; (c) a date, not
less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) flat failure to
cure the default on or before the date specified in the notice may result in acceleration of the stuns secured by this Security
Instrument and sale of the Property. Tice notice shall further inform Borrower or the right to reinstate after acceleration and
the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and
sale. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate
payment in full of all stars secured by this Security Instrument without further demand and may invoke the power of sale
and any other remedies permitted by applicable lase. Larder shall be entitled to collect all ecperms incurred in pursuing the
remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Leader shall execute or cause Trustee to execute a written notice of the occurrence of
an event of default and of Lender's election to cause the Property to be sold. Trustee shall came this notice to be recorded in
each county in which any part of the Property is located. Lender or Trustee stall mail copies of the notice as prescribed by
applicable law to Burrower and to the other persons.prescrihed by applicable law. Trustee shall give public notice of sale to
the persons and in the manner prescribed by applicable law. After the tone required by applicable law, Trustee, without
demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the
terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale
of all or any pared of the Property by public announcement at the time and place of any previously scheduled We. Larder
or its designee may purchase the Properly at any sale.
Trustee shalt deliver to the purchaser Trustee's deed conveying the Property, without any covenant or warranty,
expressed or implied, The recitals in the Trustee's dad shall be prima facie evidence of the truth of the statements made
therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not
limited to, reasonable Trustee's and attorneys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to
the person or persons legally entitled to it.
22. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey
LOAN N 0008031
CALIFORNIA - Single Family - Fannie AsaelFreddle Mac UNIFORM INSTRUMENT Form 3005 9/90
Baca arF➢CAa 02" Page 4 of S
ORIGINAL
i'i,~tE.•`.`9'#4171N9.~'~,w.F.r~+~tar~v,xrrxmxr.~aw°a~,~ealr,tatr.:!me~sisorw
2317
the Property and WWI Wrreader this Security instrument and all notes evidencing debt secured by this Security itunmtent to
Trustee. Trweo shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it.
Such person or persons shall jury any recordation costs. .
23. Substitute Trustee. Lender, at its option, may from time to time-appoint it successor , trustee to any Trustee appointed
hereunder by an instrument executed and acknowledged by Leader and recorded in the'office of the Recorder of the county in which
the Property is located. The instrument shall contain the name of.tho original Lender, Trustee and Borrower, the : book and page
where this Security Instrument is recorded and the name and address of the successor trustee. Without waveyance of the Property,
the successor trustee shall succeed to all the title, powers and duties conferred upon the Trustee heroin and byapplicable law. This
procedure for substitution of trustee shall invent to the exclusion of al[ other provisions for substitution.
24. Request for Notices. Borrower requests that copies of the notices of default and We be sent to Borrower's address which
is the Property Address. - . .
25. Statement of Obligation Fee. Lender Way collect a fee not to exceed the maximum *=out permitted by law -for
furnishing the statement of obligation as provided by Section 2941 of the Civil Code of California. -
26. Riders to this Security Instrument" If one or more riders are executed by Borrower and recorded-together with this
Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the
covenants and agreements of this Security instrument as if the rider(s) were a part of this Security Instrument.
[Check applicable box(es)]
❑ Adjustable Rate Rider .
❑ Graduated Payment Rider
❑ Balloon Rider
fxl Other(s) [specify]
❑
Condominium Rider
❑
I - 4 Family Rider
❑
Planned Unit Development Rider
❑
Biweekly Payment Rider
❑
Rate Improvement Rider
❑
Second Home Rider
OWNER OCCUPANCY RIDER
BY SIGNING BELOW, Borrower accepts and grees ! venants contained in this Security Instrument and in any
rider(s) executed by Borrower end recorded with ita.
Witnesses:
ALFRED L. LOURO -Borrower
(Llte. 4. ~h l rti 5.
4IMU LO - / -Borrower
-Borrower
-Borrower
[Space Below This Line Reserved For Acknowledgment]
State of California, San Diego County ss:
On this 26th day of May , 19 92 , before nit, the undersigned, a Notary
Public in and for said State, personally appeared
ALFRED L. LOURO AND KhRYLOU LOURO
known to me, or proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) are subscribed to the
foregoing instrument and acknowledged that they execute the same.
Witness my hand and official seal. Signature
mnnuunnun,alta. FONDA_DEE SWANK
eAKUn SEAL 3 Nme (typed or printed)
~'QajDA DEE SWANK
t10~arpnaDPCALIeoealti. July 14, 1995
faN1e1n1LefrC1 m a My commission expires:
~a1 aanuuckonwulnr
ISnx~ Y R.1995
1111111 Ia11MMnllnl n11111 anniwioaj..
(reser red for otrlcisd wol)
TO TRUSTEE: REQUEST FOR RECONVEYANCE
The undersigned is the holder of the note or notes secumd by this Deed of Trust. Said nom- or notes, together with all other
indebtedness secured by this Deed of Trust, have been paid in full. You are hereby directed to cancel said note or notes and this
Deed of Trust, which are delivered hereby, and to reconvey, without warranty, all the estate now held by you under this Deed of
Trust to the person or persons legally entitled thereto.
Dated:
LOAN 0 0008032
CALIFORNIA - Single Family - Fannie Mae/Freddie Mac UNIFORM WSTRUMENT Form 3005 9/90
BM D®CAa 9M Page S of 5 -
ORIGINAL
WHEN RECORDED MAIL TO
CALIFORNIA UNITRD BANK, N.L.
16030 V1NTORA BOULNVARD _
SUITR 125
RNCINO, CALIFORNIA 91436-4467
WiCEMOVEIM LM FOR MOVER'S USE
RIDER TO DEED OF TRUST AND NOTE
NOTICE: THIS DOCUMENT CONTAINS PROVISIONS REQUIRING
"OWNER-OCCUPANCY" OF THE SECURITY PROPERTY.
LOAN NO.: 0008031
DATE:. NAY 22, 1992
FOR VALUE RECEIVED, the undersigned ("Borrower') agree(s) that the, following provisions shall be incorporated into
the deed of trust of even date to which this Rider is attached (hereinafter the "Deed of Trust") as well as the note which said Deed of
Trust secures (herinafter the "Note").- To the extent the provisions of this Rider are inconsistent with the provisions of the
Decd of Trust or Note, the provisions of this Rider shall prevail and shall supersede any such inconsistent provisions, provided
that if the Note or any part of the indebtedness evidenced by the Note is held by the federal Home Loan: Mortgage Corporation or
the Federal National Mortgage Association, or their successors, the provisions of this Rider shall be of no force or effect
while (and only while) the Note or any pan of the indebtedness evid, need by the Note is so held, and the provisions of the Deed
of Trust, as well as the Note, shall during such time be in effect unaffected by the provisions of this Rider.
"Owner-Occupaney" of Security Property `
As an inducement for Lender to make the loan secured by the Deed of Trust, Borrower has represented to Lender that
Borrower will occupy the security property de.`cribed in the Deed of Trust as his or her primary residence within thirty (30) days
following recordation of the Deed of Trust and during the twelve- (12) month period immediately following the recordation of the
Deed of Trust Borrower acknowledges that Lender would not have agreed to nuke the loan if the security. property were not be
owner-occupied and that the interest rate set forth on the face of the Note and other terms of the loan were determined as a
result of Borrower's representation that the security property would be owner-occupied. Burrower further acknowledges that:
among other things, purchasers of loans (including agencies, associations and corporations created by the federal and state
goverments for the purchase of loans) typically require that properties securing loans acquired by such purchasers be owner-
occupied and will reject loans for which the security properties are not owner-occupied; Lenders ability to sell a loan (which
it often does in the ordinary course of business) will be impaired where a security property is not owner-occupied; the ..-isks
involved and the costs of holding and administering a loan are often higher in the case of a loan where the security property is
not owner-occupied; and, if and when Dander makes a bait on non-owner-occupied property, Lender typically makes such a loan
on terms different from those of loans secured by owner-occupied properties.
Accordingly, in the event the security property described in the feed of Trust is not occupied by Borrower as Borrower's
primary residence within thirty (30) days following recordation of the Deed of Trust and during the twelve- (12) month period
immediately following recordation of the Deed of Trust, the holder of the Note nay declam all sums secured by the Deed of Trust
to be immedi tel and payable
The rig of Le a ere der shall be in addition to any other rights of Lender under the Deed of Trust or allowed by law.
ALFRED L. LOURO MARYL00 LOUR0
C-
Smte of CALIFORNIA
County of
_ Marylou Louro
I I penonally kuawo to me
I XI procd to ate on the basis of satisfactory evidence
to be the remote) whom tame(s) _ ARE suban'bd to
this instrument, and aekn. Idgd that THEY executd it.
WUNESS my had and oM.' . ~ f~ Y
1 t Q )G I'-'fem.
Noary', Sipamrc
FONDA DEE SWANK
None (typed of printed)
On this the 26th dayof
19 92 , before nm,1
S.S. the undenigned NotaryPuhlic, pemx wily appured
San Diego Alfred L. Louro and
My Commission Expires: July 14 , 1992
- -
R nF~
1W-=>
1110000RDR26e146
ORIGINAL
ATTACHED TO DEED OF TRUST DATED: MAY --'22, 1992
Loan No: 0008031
Property Addrm: -
1250 SAM DIRODITO DRr"i CMCIMITAS, CALIFORNIA 92024
F.NMrr A
LEGAL DESCRIMON
2319
The Northerly 58 feet of Lot 1, Block "J" of ENCINITAS HIGHLANDS, in the City of
Encinitas, County of San Diego, State of California, according to Map thereof No.
2141, filed in the Office of the County Rocurder of San Diego County, December
4, 1928; ALSO the Southerly 5 feet of Lot 2, Block "J" of ENCINITAS HIGHLANDS,
in the City of Encinitas, County of San Diego, State of California, according to
Map thereof No. 2141, filed in the Office of the County Recorder of San Diego
County, December 4, 1928.
S
B%N E9DnInA 0066