HomeMy WebLinkAboutFixed Rate Deed of TrustRecording Requested B}"•
Ficielity National Title Company
<. ���ier N�..m�.... ��k��
Requested by and returned to:
c/o Live Well Financial, Inc.
830 E Main, Suite 1000
Richmond, VA 23219
FHA Case Number: 197-5202739-957
9525501
State of California
JULIE RQDEWALD
San Luis �bispo Counry—Clerk/Recorder
Recorded at the request of
Fidelity Title Company
AG
11/24/2010
2:19 PM
oo�# 2010U60161
�
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Titles: 2 Pages: 14
Fees 67.00
Taxes 0.00
Others 3.00
PAID $70.00
FIXED RATE DEED OF TRUST MIN: 100877800095255015
THIS DEED OF TRUST SECURES A REVERSE MORTGAGE LOAN
Purchase Money
THIS DEED OF TRUST ("Security Instrument") is made on November 23, 2010. The trustor is Edward D. Hinds
and Donna Hinds, husband and wife as joint tenants whose address is 579 Camino Mercado #211, Arroyo
Grande, CA 93420 ("Borrower"). The trustee is TitleWorks of VA, 5300 Hickory Park Drive, Suite 100, Glen
Allen, VA 23059 (°Trustee"). The beneficiary under this Security Instrument is Mortgage Electronic Registration
Systems, Inc. ("MERS') (solely as nominee for Lender and Lender's successors and assigns) and the successors
and assigns of MERS. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's
successors and assigns. MERS is organized and existing under the laws of Delaware, and has an address and
telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. The lender is Equipoint Financial
Network, Inc, which is organized and existing under the laws of Texas, and whose address is 12400 High Bluff
Drive, Suite 650, San Diego, CA 92130 ("Lender"). Borrower has agreed to repay to Lender amounts which Lender is
obligated to advance, including future advances, under the terms of a Home Equity Conversion Loan Agreement dated
the same date as this Security Instrument ("Loan Agreement"). The agreement to repay is evidenced by Bonower's
Note dated the same date as this Security Instrument ("Note"). This Security Instrument secures to Lender: (a) the
repayment of the debt evidenced by the Note, including all future advances, with interest, and all renewals, extensions
and modifications of the Note, up to a maximum principal amount of Two Hundred Ninety-Two Thousand Fyve
Hundred and 00/100 Dollars (U.S.$292,500.00); (b) the payment of all other sums, with interest, advanced under
Paragraph 5 to protect the security of this Security Instrument or otherwise due under the terms of fhis Security
Insmzment; and (c) the performance of Bonower's covenants and agreements under this Security Instrument and the
Note. The full debt, including all amounts described in (a), (b), and (c) above, if not paid earlier, is due and payable on
January 03, 2081. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale,
the following described property located in San Luis Obispo County, California, which has the address of:
579 Camino Mercado #211, Arroyo Grande, CA 93420, and is described more fully on E�chibit A attached to and
hereby incorporated into this Deed of Trust ("Property Address").
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights,
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 estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property is unencumbered. Bonower warrants and will defend
generally the title to the Properiy against all claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRLJMENT combines uniform covenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitute a uniform security instrument covering real property.
LJNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
CA First Deed of Trust (Fixed)
MERS
1. Payment of Principal and Interest. Borrower shall pay when due the principal of, and interest on, the debt
evidenced by the Note.
2. Payment of Property Charges. Borrower shall pay all property charges consisting of taaces, ground rents, flood
and hazard insurance premiums, and special assessments in a timely manner, and shall provide evidence of payment to
Lender, unless Lender pays property charges by withholding funds from monthly payments due to the Borrower or by
charging such payments to a line of credit as provided for in the Loan Agreement.
3. �re, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now
in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire. T'his insurance
shall be maintained in the amounts, to the extent and for the periods required by Lender or the Secretary of Housing
and Urban Development ("Secretary"). Borrower shall also insure all improvements on the Property, whether now in
existence or subsequently erected, against loss by floods to the extent required by the Secretary. All insurance shall be
camed with companies approved by Lender. The insurance policies and any renewals shall be held by Lender and
shall include loss payable clauses in favor of, and in a form acceptable to, Lender.
In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not made
promptly by Borrower. Each insurance company concerned is hereby authorized and directed to make payment for
such loss to Lender, instead of to Borrower and Lender jointly. Insurance proceeds shall be applied to restoration or
repair of the damaged Property, if the 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 first to the reduction of any indebtedness under a Second Note and Second Security
Instrument held by the Secretary on the Property and then to the reduction of the indebtedness under the Note and this
Security Instrument. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness
under the Note and this Security Instrument shall be paid to the entity legally entitled thereto.
In the event of foreclosure of this Security Instrument or other transfer of title to the Property that extinguishes the
indebtedness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the purchaser.
4. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application;
Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence after the
execution of this Security Instrwnent and Borrower (or at least one Borrower, if initially more than one person are
Borrowers) shall continue to occupy the Property as Borrower's principal residence for the term of the Security
Instrument. "Principal residence" shall have the same meaning as in the Loan Agreement.
Borrower shall not commit waste or destroy, damage or substantially change the Property or allow the Property to
deteriorate, reasonable wear and tear excepted. Borrower shall also be in default if Bonower, during the loan
application process, gave materially false or inaccurate information or statements to Lender (or failed to provide Lender
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 shall comply with the provisions of the lease. If Borrower acquires fee title to the Property,
the leasehold and fee title shall not be merged unless Lender agrees to the merger in writing.
5. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay all governmental
or municipal charges, fines and impositions that are not included in Paragraph 2. Bonower shall pay these obligations
on time directly to the entity which is owed the payment. If failure to pay would adversely affect Lender's interest in
the Property, upon Lender's request Borrower shall promptly furnish to Lender receipts evidencing these payments.
Borrower shall promptly discharge any lien which has priority over this Security Instrument in the manner provided in
Paragraph 12(c).
If Borrower fails to make these payments or the property chazges required by Paragraph 2, or fails to perform any other
covenants and agreements contained in this Security Instnunent, or there is a legal proceeding that may significantly
affect Lender's rights in the Property (such as a proceeding in banlmiptcy, for condemnation or to enforce laws or
regulations), then Lender may do and pay whatever is necessary to protect the value of the Property and Lender's rights
CA First Deed of Trust (Fixed) 2 MERS
in the Property, including payment of taxes, hazard insurance and other items mentioned in Paragraph 2.
MERS
CA First Deed of Trust (Fixed)
To protect Lender's security in the Property, Lender shall advance and charge to Borrower all amounts due to the
Secretary for the Mortgage Insurance Premium (°MIP") as defined in the Loan Agreement as well as all sums due to
the loan servicer for servicing activities ("Servicing Fee") as defined in the Loan Agreement. Any amounts disbursed
by Lender under this Paragraph shall become an additional debt of Borrower as provided for in the Loan Agreement
and shall be secured by this Security Instrument.
6. Inspection. Lender or its agent may enter on, inspect or make appraisals of the Property in a reasonable manner and
at reasonable times provided that Lender shall give the Borrower notice prior to any inspection or appraisal specifying a
purpose for the inspection or appraisal which must be related to Lender's interest in the Property. If the Property is
vacant or abandoned or the loan is in default, Lender may take reasonable action to protect and preserve such vacant or
abandoned Property without notice to the Borrower.
7. 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 place of condemnation shall be paid to
Lender. The proceeds shall be applied first to the reduction of any indebtedness under the Second Note and Second
Security Instrument held by the Secretary on the Property, and then to the reduction of the indebtedness under the Note
and this Security Instrument. Any excess proceeds over an amount required to pay all outstanding indebtedness under
the Note and this Security Instrument shall be paid to the entity legally entitled thereto.
8. Fees. Lender may collect fees and charges authorized by the Secretary.
9. Grounds for Acceleration of Debt.
(a) Due and Payable. Lender may require immediate payment in full of all sums secured by this Security
Instrument if
(i) A Bonower dies and the Property is not the principal residence of at least one surviving Borrower; or
(ii) All of a Borrower's title in the Property (or his or her beneficial interest in a trust owning all or part of the
Property) is sold or otherwise transferred and no other Borrower retains (a) title to the Property in fee
simple, (b) a leasehold under a lease for not less than 99 years which is renewable or a lease having a
remaining period of not less than 50 years beyond khe date of the 100th birthday of the youngest
Bonower, or (c) a life estate in the Property, (or retains a beneficial interest in a trust with such an
interest in the Property.
(b) Due and Payable with Secretary Approval. Lender may require immediate payment in full of all sums
secured by this Security Instrument, upon approval by an authorized representative of the Secretary, if:
(i) The Property ceases to be the principal residence of a Borrower for reasons other than death and the
Property is not the principal residence of at least one other Bonower; or
(ii) For a period of longer than twelve (12) consecutive months, a Borrower fails to physically occupy the
Property because of physical or mental illness and the Property is not the principal residence of at least
one other Bonower; or
(iii) An obligation of the Borrower under this Security Instrument is not performed.
(c) Notice to Lender. Borrower shall notify Lender whenever any of the events listed in Paragraph 9(a)(ii) and (b)
occur.
(d) Notice to Secretary and Borrower. Lender shall notify the Secretary and Borrower whenever the loan becomes
due and payable under Paragraph 9(a)(ii) and (b). Lender shall not have the right to commence foreclosure until
Borrower has had thirty (30) days after notice to either:
(i) Correct the matter which resulted in the Security Instrument coming due and payable; or
(ii) Pay the balance in full; or
CA First Deed of Trust (Fixed) 4 MERS
(iii) Sell the Property for the lesser of the balance or 95% of the appraised value and apply the net proceeds of
the sale toward the balance; or
(iv) Provide the Lender with a deed in lieu of foreclosure.
(e) Trusts. Conveyance of a Borrower's interest in the Property to a trust which meets the requirements of the
Secretary, or conveyance of a trust's interests in the Property to a Borrower, shall not be considered a
conveyance for purposes of this Paragraph 9. A trust shall not be considered an occupant or be
considered as having a principal residence for purposes of this Paragraph 9.
(fj Mortgage Not Insured. Borrower agrees that should this Secwity Instrument and the Note not be eligible for
insurance under the National Housing Act within eight (8) montt�s from the date hereof, Lender may, at its option,
require immediate payment in full of all sums secured by this Security Instrument. A written statement of any
authorized agent of the Secretary dated subsequent to eight (8) months from the date hereof, declining to insure this
Security Instrument and the Note, shall be deemed conclusive proof of such ineligibility. Notwithstanding the
foregoing, this option may not be exercised by Lender when the unavailability of insurance is solely due to Lender's
failwe to remit a mortgage insurance premium to the Secretary.
10. No Deficiency Judgments. Borrower shall have no personal liability for payment of the debt secured by this
Security Instrument. Lender may enforce khe debt only through sale of the Property. Lender shall not be permitted to
obtain a deficiency judgment against Bonower if the Security Instrument is foreclosed. If this Security Instrument is
assigned to the Secretary upon demand by the Secretary, Borrower shall not be liable for any difference between the
mortgage insurance benefits paid to Lender and the outstanding indebtedness, including accrued interest, owed by
Borrower at the time of the assignment.
11. Reinstatement Borrower has a right to be reinstated if Lender has required immediate payment in full. This right
applies even after foreclosure proceedings are instituted. To reinstate this Security Instrument, Borrower shall conect
the condition which resulted in the requirement for immediate payment in full. Foreclosure costs and reasonable and
customary attomeys' fees and expenses properly associated with a foreclosure proceeding shall be added to the
principal balance. Upon reinstatement by Borrower, this Security Instrument and the obligations that it secures shall
remain in effect as if Lender had not required immediate payment in full. However, Lender is not required to permit
reinstatement if:(i) Lender has accepted reinstatement after the commencement of foreclosure proceedings within two
(2) years immediately preceding the commencement of a current forecloswe proceeding, (ii) reinstatement will
preclude foreclosure on different grounds in the fuhue, or (iii) reinstatement will adversely affect the priority of the
Security Instrument.
12. Lien Status
(a) Modification. Borrower agrees to extend this Security Instrument in accordance with this Paragraph 12(a). If
Lender determines that the original lien status of the Security Instrument is jeopardized under state law (including
but not limited to situations where the amount secured by the Security Instrument equals or exceeds the maximum
principal amount stated or the maximum period under which loan advances retain the same lien priority initially
granted to loan advances has expired) and state law permits the original lien status to be maintained for fuhxre loan
advances through the execution and recordation of one or more documents, then Lender shall obtain title evidence
at Borrower's expense. If the title evidence indicates that the Property is not encumbered by any liens (except this
Security Instrument, the Second Security Instrument described in Paragraph 13(a) and any subordinate liens that the
Lender determines will also be subordinate to any future loan advances), Lender shall request the Borrower to
execute any documents necessary to protect the priority of the lien status of future loan advances. Borrower agrees
to execute such documents. If state law does not permit the original lien status to be extended to future loan
advances, Borrower will be deemed to have failed to have performed an obligation under this Security Instrument.
(b) Tax Deferral Programs. Borrower shall not participate in a real estate tax deferral program, if any liens created by
the tax defenal are not subordinate to this Security Instrwnent.
(c) Prior Liens. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
CA First Deed of Trust (Fixed) 5 MERS
Bonower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner 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 forfeiture of any part of the Property; or (c)
secures from the holder of the lien an agreement satisfactory to Lender subordinaring the lien to all amounts secured
by this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain
priority over this Secwity 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 ten (10) days of the giving of notice.
13. Relationship to Second Security Instrument.
(a) Second Security Instrument. In order to secure payments which the Secretary may make to or on behalf of
Borrower pursuant to Section 255(i)(1)(A) of the National Housing Act and the Loan Agreement, the Secretary has
required Bonower to execute a Second Note and a Second Security Instrument on the Property.
(b) Relationship of First and Second Security Instruments. Payments made by the Secretary shall not be included
in the debt under the Note unless:
(i) This Security Instrument is assigned to the Secretary; or
(ii) The Secretary accepts reimbursement by the Lender for all payments made by the Secretary.
If the circumstances described in (i) or (ii) occw, then all payments by the Secretary, including interest on the
payments, but excluding late charges paid by the Secretary, shall be included in the debt under the Note.
(c) Effect on Borrower. Where there is no assignment or reimbursement as described in (b)(i) or (ii) and the
Secretary makes payments to Bonower, then Borrower shall not:
(i) Be required to pay amounts owed under the Note, or pay any rents and revenues of the Property under
Paragraph 19 to Lender or a receiver of the Property, until the Secretary has required payment in full of
all outstanding principal and accrued interest under the Second Note; or
(ii) Be obligated to pay interest or shared appreciation under the Note at any time, whether accrued before or
after the payments by the Secretary, and whether or not accrued interest has been included in the
principal balance under the Note.
(d) No Duty of the Secretary. The Secretary has no duty to Lender to enforce covenants of the Second Security
Instrument or to take actions to preserve the value of the Property, even though Lender may be unable to collect
amounts owed under the Note because of restrictions in this Paragraph 13.
14. Forbearance by Lender Not a Waiver. 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.
15. Successors and Assigns Bound; Joint and Several Liability. The covenants and agreements of this Security
Instnunent shall bind and benefit the successors and assigns of Lender. Borrower may not assign any rights or
obligations under this Security Instrument or under the Note, except to a trust that meets the requirements of the
Secretary. Borrower's covenants and agreements shall be joint and several.
16. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
Property Address or any other address all Borrowers jointly designate. Any notice to Lender shall be given by first
class mail to Lender's address stated herein or any address Lender designates by notice to Bonower. Any notice
provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as
provided in this Paragraph 16.
17. Governing Law; Severability. This Security Insmzment shall be governed by Federal law and the law of the
jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the
Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note
CA First Deed of Trust (Fixed) 6 MERS
which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and
the Note are declared to be severable.
18. Borrower's Copy. Borrower shall be given one conformed copy of the Note and this Security Instrument.
NON-iJNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
19. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents and revenues of the
Property. Bonower authorizes Lender or Lender's agents to collect the rents and revenues and hereby directs each
tenant of the Property to pay the rents to Lender or Lender's agents. However, prior to Lender's notice to Bonower of
Borrower's breach of any covenant or agreement in the Security Instrument, Bonower shall collect and receive all rents
and revenues of the Property as trustee for the benefit of Lender and Borrower. This assignment of rents constitutes an
absolute assignment and not an assignment for additional security oniy.
If Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by Borrower as trustee for
benefit of Lender only, to be applied to the sums secured by this Security Instrument; (b) Lender shall be entitled to
collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and unpaid
to Lender or Lender's agent on Lender's written demand to the tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would
prevent Lender from exercising its rights under this Paragraph 19.
Lender shall not be required to enter upon, take control of or maintain the Properiy before or after giving notice of
breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time there is a breach. Any
application of rents shall not cure or waive any default or invalidate any other right or remedy of Lender. This
assignment of rents of the Property shall terminate when the debt secured by this Security Instrument is paid in full.
20. Foreclosure Procedure. For any event under Paragraph 9, Lender may invoke the power of sale and any
other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing
the remedies provided in this Paragraph 20, including, but not limited to, reasonable attorney's fees and costs of
title evidence.
If Lender invokes the power of sale, Lender 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 cause
this notice to be recorded in each county in which any part of the Property is located. Lender or Trustee shall
mail copies of the notice as prescribed by applicable law to Borrower and to the other persons prescribed by
applicable law. After the time required by appGcable 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 parcel of the Property by public announcement at the time and place of any previously scheduled sale.
Lender or its designee may purchase the Property at any sale.
Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty,
expressed or implied. The recitals in the Trustee's deed 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.
21. Lien Priority. The full amount secured by this Security Instrument shall have the same priority over any other
liens on tk�e Property as if the full amount had been disbursed on the date tt�e initial disbursement was made, regardless
of the actual date of any disbursement. The amount secured by this Security Instrument shall include all direct
payments by Lender to Bonower and all other loan advances permitted by this Security Instrument for any purpose.
This lien priority shall apply notwithstanding any State constitution, law or regulation, except that this lien priority shall
not affect the priority of any liens for unpaid State or local governmental unit special assessments or taxes.
CA First Deed of Trust (Fixed) 7 MERS
22. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to
reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this
Security Instrument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally
entitled to it. Lender may charge such person or persons a reasonable fee for reconveying the Property, but only if the
fee is paid to a third-party (such as the Trustee) for services rendered and the charging of the fee is permitted under
applicable law. If the fee charged dces not exceed the fee set by applicable law, the fee is conclusively presumed to be
reasonable.
23. Substitute Trustee. Lender, at its option, may from time to time appoint a successor trustee to any Trustee
appointed hereunder by an instrument executed and aclrnowledged by Lender and recorded in the oftice of the
Recorder of the county in which the Property is located. The instrument shall contain the name of the 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 conveyance of the Property, the successor trustee shall succeed to all the title, powers and
duties conferred upon the Trustee herein and by applicable law. This procedure for substitution of trustee shall govern
to the exclusion of all other provisions for substitution.
24. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address
which is the Property Address.
25. Statement of Obligation Fee. Lender may collect a fee not to exceed the maximum amount permitted by law for
furnishing the statement of obligarion as provided by Section 2943 of the Civil Code of California.
26. Obligatory Loan Advances. Lender's responsibility to make Loan Advances under the terms of the Loan
Agreement, including Loan Advances of principal to Borrower as well as Loan Advances for interest, MIP, Servicing
Fees, and other charges shall be obligatory.
27. Riders to this Security Instrument If one or more riders are executed by Borrower and recorded together with
this Security Instrument, the covenants 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 Instnunent.
[Check all riders that aze applicable].
X Condominium Rider PUD Rider
Shared A reciation Rider X Other Purchase Rider
28. Nominee Capacity of MERS. MERS serves as mortgagee of record and secured party solely as nominee, in
an administrative capacity, for Lender and its successors and assigns and holds legal title to the interests granted,
assigned, and transferred herein. All payments or deposits with respect to the Secured Obligations shall be made to
Lender, all advances under the Loan Documents shall be made by Lender, and all consents, approvals, or other
determinations required or permitted of Mortgagee herein shall be made by Lender. MERS shall at all times comply
with the instructions of Lender and its successors and assigns. If necessary to compiy with law or custom, MERS
(for the benefit of Lender and its successors and assigns) may be directed by Lender to exercise any or all of those
interests, including without limitation, the right to foreclose and sell the Property, and take any action required of
Lender, including without limitation, a release, discharge or reconveyance of this Mortgage. Subject to the
foregoing, all references herein to "Mortgagee" shall include Lender and its successors and assigns.
The undersigned Borcower requests that a copy of any Notice of Default and any Notice of Sale under this Security
Instcument be mailed to him at the address of the Borrower set forth above. A copy of any Notice of Default and
any Notice of sale will be sent only to the address contained in this recorded request. If the Borrower's address
changes, a new request must be recorded.
BY SIGNING BELOW, Bonower accepts and agrees to the terms and covenants contained in this Security Instrument
and in any rider(s) executed by Borrower and recorded with it.
CA First Deed of Trust (Fixed) 8 MERS
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Notarv Acknowledgement
State of California �"��'
County of '�A,n,J t-c.u"J V'`+(3� �(/ ,�� r� D'f ��1.p6 c�-
On �`�ZIl�leiWt/�K�w ti� �'1,PA�efore me, �l � , a Notary Publiq personally
appeared Edward D. Hinds . nd Donna Hinds, who proved to me on the basis of satisfactory evidence to be the
person(s) whose n Ze is/ subscribed to within instrument and cknowledged to me that helsh t�i- executed
the same in his/her t ei authorized capaci �e , and that by his/he� signature(�on tt�e instrumen� persory�s�
or the entity upon be alf of which the perso s cted, executed the instrument. l�
I certify under PENALTY OF PERJURY under the laws of the Sta y�,� aph is true
and correct. � M. K. GHIGLIA
�- . COMM. #1703944 m
WITNESS my an o cial seal. � S��u o�COU�rtr�v �
�
Signature [SEAL] MY �. �P• Dec 7, 2010
(This area for official notary seal)
NOTARY MUST PRINT OR TYPE
This must be printed or typed in a manner that is photographicallv reproductible (GC27201.5)
Name of the Notary: �-K • U b���
County of notary's principal Place of business: ��iv � V���
Notary's phone number: � V �' ��� — "�fp� �
Notary's registration number: 6 7( )���
Commission expiration date: �2 - �• � �
Title of Document:
Date of Document: No. of Pages
Other Signatures not acknowledged:
REQUEST FOR RECONVEYANCE
TO TRUSTEE:
The undersigned is the holder of the note or notes secured by this Deed of Trust. Said note 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
your under this Deed of Trust to the person or persons legally entitled thereto.
Signature
CA First Deed of Trust (Fixed) 1 MERS
EXHIBIT A
E�chibit A to the Deed of Trust made on November 23, 2010, by Edward D. Hinds and Donna Hinds, husband and
wife as joint tenants ("Borrower") to TitleWorks of VA ("Trustee") for the benefit of Equipoint Financial Network,
Inc ("Lender"). The Property is located in the county of San Luis Obispo, state of CA, and is described as follows:
Description of Property
Legal description attached hereto as Exhibit A and by this reference made a part hereof
CA First Deed of Trust (Fixed) 2 MERS
Escrow No.: 10-400203341-SS
Locate No.: CAFNT0940-0940-0002-0400203341
Title No.: 10-400203341-RB
EXHIBIT "A"
THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF ARROYO GRANDE, COUNTY OF SAN LUIS OBISPO,
STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:
A Condominium comprised of:
Parcel 1
Airspace Envelope No. 17 of Tract 2616, in the City of Arroyo Grande, County of San Luis Obispo, State of California, as shown
and particularly described on the First Amended Condominium Plan for Tract 2616, recorded January 11, 2007 as Instrument
No. 2007-002198 of Official Records.
Excepting and reserving therefrom, a non-exclusive easement for access, ingress, egress, encroachment, maintenance, repair,
drainage, support and for other purposes, all as described in the Second Amended and Restated Declaration of Covenants,
Conditions and Restrictions establishing a Plan of Condominium Ownership of Tract 2616 ("Declaration"), recorded March 7,
2007 as Instrument No. 2007-015380 of Official Records.
Parcel 2
An undivided 1/61 interest as a tenant in common in the Undivided Interest Common Area as defined in the Declaration,
referred to above, which Undivided Interest Common Area consists of the real properly described as Lot 1 of Tract 2616, in
the City of Arroyo Grande, County of San Luis Obispo, State of California, according to Map recorded July 19, 2005 in Book 26,
Pages 81 and 82 of Maps, in the Office of the County Recorder of said County, including any Undivided Interest Common Area
duly joined through a duly authorized Declaration of Annexation pursuant to the Declaration.
Excepting and reserving therefrom, Airspace Envelopes 1 through 61 inclusive, and any and all improvements that are or will
be located thereon.
Also excepting and reserving therefrom, non-exclusive easements for access, ingress, egress, encroachment, maintenance,
repair, drainage, support, and for other purposes, all as described in the Declaration.
Parcel 3:
An exclusive easement for storage and parking appurtenant to Parcel One, which storage area and parking area are defined in
the Declaration, for use as may be permitted in the Declaration.
Parcel 4:
Non-exclusive rights appurtenant to Parcel One above, for access, ingress, egress, encroachment, maintenance, repair,
drainage, support and for other purposes all as described in the Declaration referred to above.
APN: 007-776-017
Exhibit Page - Legal(exhibit)(08-07)
CONDOMINIUM RIDER
FHA Case Number: 197-5202739-957 9525501
THIS CONDOMINIUM RIDER is made on November 23, 2010, and is incorporated into and shall be deemed to
amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date
given by the undersigned ("Borrower") to secure Borrower's Note to Equipoint Fynancial Network, Inc, ("Lender") of
the same date and covering the Property described in the Security Instrument and located at:
579 Camino Mercado #211, Arroyo Grande, CA 93420
The Property Address includes a unit, together with an undivided interest in the common elements of, a condominium
project known as: OCEAN OAKS (the "Condominium Project"). If the owners association or other entity which acts
for the Condominium Project ("Owner's Association") holds title to property for the benefit or use of its members or
shareholders, the Property also includes Borrower's interest in the Owners Association and the uses, proceeds and
benefits of Borrower's interest.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the Security
Instrument, Borrower and Lender further covenant and agree as follows:
A. So long as the Owner's Association maintains, with a generally accepted insurance carrier, a"master" or
"blanket" policy insuring all property subject to the condominium documents, including all improvements
now existing or hereafter erected on the Property, and such policy is satisfactory to Lender and provides
insurance coverage in the amounts, for the periods, and against the hazards Lender and the Secretary require,
including fire and other hazards included within the term "extended coverage," and loss by flood, to the extent
required by the Secretary, then (i) Lender waives the provision in Paragraph 2 of this Security Instrument for
the payment of the premium for hazard insurance on the Property, and (ii) Borrower's obligation under
Paragraph 3 of this Security Instrument to maintain hazard insurance on the Property is deemed satisfied to the
extent that the required coverage is provided by the Owner's Association policy. Borrower shall give Lender
prompt notice of any lapse in required hazard insurance coverage and of any loss occurring from a hazard. In
the event of distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the
Property, whether to the condominium unit or to the common elements, any proceeds payable to Borrower are
hereby assigned and shall be paid to Lender for applicatioo to the sums secured by this Security Instrument,
with any excess paid to the entity legally entitled thereto.
B. Bonower promises to pay Borrower's allocated share of the common expenses or assessments and charges
imposed by the owner's Association, as provided in the condominium documents.
C. If Borrower does not pay condominium dues and assessments when due, then Lender may pay them. Any
amounts disbwsed by Lender under this paragraph C shall become additional debt of Bonower secured by the
Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear
interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from
Lender to Borrower requesting payment.
BY SIGI�IING BELOW, Borrower accepts and agrees to the terms and provisions contained in this Condominium
Rider.
EDW . HINDS rower)
N�.�-) / �-�
DONNA HINDS (BORROWER)
I s` Condo Rider
HECM PURCHASE RIDER
FHA Case Number: 197-5202739-957
9525501
THIS PURCHASE RIDER is made on November 23, 2010, and is incorporated into and shall be deemed to amend and
supplement the Mortgage, Deed of Ttust, or Security Deed (the "Security Instrument") of the same date given by the
undersigned (the "Borrower," whether there are one or more persons undersigned) to secure Borrower's Note to Equipoint
Financial Network, Inc (the "L.ender") of the same date and covering the Property described in the SecurityInstnunent (the
"Propert}�'), which is located at:
579 Camino Mercado #211, Arroyo Grande, CA 93420
In addirion to the covenants and agreements made in the Security Instrument, Bonower and Lender further covenant and
agree that Paragraph 9(b) of the Security Instrument is amended by the following:
9. (b) Due and Payable with Secretary Approval. Lender may require immediate payment-in-full of all sums
secured by this Security Instrument, upon approval of the Secretary, if:
(iv) Borrower fails to occupy, establish, and use the Property as Borrower's principal
residence within 60 days after the execution of the Security Instrument.
BY SIGNING BELOW, Bonower accepts and agrees to the terms and covenants contained in this HECM Purchase Rider.
Edwar . Hinds (Borr er) �
�m-� �7�..�
Donna Hinds (Borrower)
Rider to 1" Mortgage / Deed ofTrust / Securiry Deed
Bay Docs, Inc. 11/08
END 0� DC?C�i�ENT