Title docu ?0 Prev er?r E'Shaprk 5555555 This page is part of your document - DO NOT DISCARD ?l 20180979585 Recordeleiled in Official Records Recorder's Office, Los Angeles County, California 09/25/18 AT FEES: TAXES: OTHER SB2: Pa es: 0 31 114.00 0.00 0.00 75.00 PAID: 201809251060055 LEADSHEET 00015763329 009361915 SEQ: 03 SECURE - THIS FORM IS NOT TO BE DUPLICATED 189.00 FIRST AttEttl?tltI TITLE LBS ANGELES Recording Requested By: Premier America Credit Union After Recording Return To: Premier America Credit Union 1986? Prairie Street Chatsworth, CA 91311 800-772-4000 Parcel Number: 5561 son/2% [Space Above This Line For Recording Data] DEED OF TRUST Loan 5019215903 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) ?Security Instrument" means this document, which is dated September 21, 2018, together with all Riders to this document. (B) ?Borrower? is Stephen B. Resnick, as Trustee of The Stephen B. Resnick 2014 Living Trust dated June 12, 2014. Borrower?s address is 9255 Doheny Road #3106, Los Angeles, CA 90069. Borrower is the trustor under this Security Instrument. (C) ?Lender? is Premier America Credit Union. Lender is a State Chartered Credit Union organized and existing under the laws of THE STATE OF CALIFORNIA. Lender?s address is 19867 Prairie Street, Chatsworth, CA 91311. Lender is the beneficiary under this Security Instrument. (D) ?Trustee? is First American Title Insurance Company, 1 First American Way, Santa Ana, CA 92707. (E) ?Note? means the promissory note signed by Borrower and dated September 21, 2018. The Note states that Borrower owes Lender ONE MILLION THREE HUNDRED EIGHTY THOUSAND AND NOI100 Dollars (US. $1,380,000.00} plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than October 01, 2033. (F) ?Property? means the property that is described below under the heading ?Transfer of Rights in the Property.? (G) ?Loan? means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) ?Riders" means all Riders to this Security Instrument that are executed by Borrower. The I II II *50?192159031: MORTDO 1k Family-Fannie MaeIFreddie Mac UNIFORM INSTRUMENT Form 3005 1(01 (page tel 15 pages, Mortgage Cadence Document Center 3004 09(14 following Riders are to be executed by Borrower [check box as applicable]: Adjustable Rate Rider Condominium Rider Second Home Rider Balloon Rider Planned Unit Development Rider VA Rider 1-4 Family Rider Biweekly Payment Rider Inter Vivos Trust Rider (I) "Applicable Law? means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) ?Community Association Dues, Fees, and Assessments? means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a ?nancial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfersI automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items? means those items that are described in Section 3. (M) ?Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value andfor condition of the Property. (N) ?Mortgage Insurance? means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) ?Periodic Payment" means the regularly scheduled amount due for principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) means the Real Estate Settlement Procedures Act (?12 U.S.C. ?2601 et seq.) and its implementing regulation, Regulation (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security instrument, refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan? even if the Loan does not qualify as a "federally related mortgage loan? under RESPA. (Q) ?Successor in Interest of Borrower? means any party that has taken title to the Property, whether or not that party has assumed Borrower?s obligations under the Note and/or this Security Instrument. SEE i! TRANSFER OF RIGHTS IN THE PROPERTY ATTACHED This Security Instrument secures to Lender: the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) 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 the COUNTY of Los Angeles: THAT PORTION OF LOT 3 OF TRACT 19543, IN THE CITY OF LOS ANGELES, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 621 PAGES 8 TO 10 ill Hill Hi *50?192?159031?r Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3005 1f01 (page 2 of 15 pages, Mortgage Cadence Document Center GI 3004 09(14 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST SOUTHERLY CORNER OF SAID THENCE ALONG THE WESTERLY LINE THEREOF NORTH 00? 34' 00" EAST 205.78 THENCE NORTH 68? 29' 14" EAST 166.41 THENCE SOUTH 57? 47' 03" EAST 27.00 FEET TO THE WESTERLY LINE OF RISING GLEN ROAD AS SHOWN ON SAID THENCE SOUTHERLY ALONG SAID ROAD BEING A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 91.00 FEET, AN ARC DISTANCE OF 142.89 FEET TO THE LINE OF SAID THENCE THEREON SOUTH 52? 55" WEST 203.74 FEET TO THE POINT OF BEGINNING. SAID LAND IS ALSO SHOWN AS PARCEL PARCEL MAP L.A. NO. 381 FILED IN BOOK 3 PAGE 83 OF PARCEL MAPS. Parcel Number: 5561-023-050 which currently has the address of 1889 Rising Glen Road, Los Angeles, California 90069 (?Property Address?): 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 estate 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 variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a)cash; money order; (0) certified check, bank check, treasurer?s check or cashier?s check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insuf?cient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time *5019215903?i" Family?Fannie MaefFreddie Mac UNIFORM INSTRUMENT Form 3005 1101 (page 3 of 15 pages, Mortgage Cadence DocumentCentar (til 3004 such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: interest due under the Note; principal due under the Note; amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied ?rst to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a suf?cient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the ?Funds") to provide for payment of amounts due for: taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; leasehold payments or ground rents on the Property, if any; premiums for any and all insurance required by Lender under Section 5; and Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called ?Escrow Items.? At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower?s obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower?s obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower?s obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase ?covenant and agreement? is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or alt Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount )sufficient to permit Lender to I I II Family-Fannie Machreddie Mac UNIFORM INSTRUMENT Form 3005R 1f01 (pageo 4 of 15 pages, Mortgage Cadence Document Center 3004 {19(14 apply the Funds at the time specified under RESPA, and not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall 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. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can 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 as required by RESPA. If there is a surplus of Funds held in escrow, as de?ned under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as de?ned under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, ?nes, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall discharge any lien which has priority over this Security Instrument unless Borrower: (3) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; contests the lien in g00d faith by, or defends against enforcement of the lien in, legal proceedings which in Lender?s opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or 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 can attain priority over this Security Instrument, Lender may give Borrower 3 notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one?time charge for a real estate tax veri?cation andfor reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by ?re, hazards included within the term "extended coverage,? and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender?s right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: a one-time charge for flood zone determination, certi?cation and tracking services; or a one-time charge for ?ood I II II I II ll *5019215903'k NOR DO Family-Fannie MaetFreddie Mac UNIFORM INSTRUMENT Form 3005 1101 (page 5 of 15 pages, Mortgage Cadence Document Center 3004 09f14 zone determination and certi?cation services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any ?ood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender?s option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower?s equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might signi?cantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender?s right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee and Borrower further agrees to generally assign rights to insurance proceeds to the holder of the Note up to the amount of the outstanding loan balance. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall give to Lender all receipts of paid premiums and renewal notices. if Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee andlor as an additional loss payee and Borrower further agrees to generally assign rights to insurance proceeds to the holder of the Note up to the amount of the outstanding loan balance. 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 by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender?s satisfaction, provided that such inspection shall be undertaken Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. 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 the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may ?le, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30- day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender Borrower?s rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and any other of Borrower?s rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security instrument, whether or not then due. II II II II *5019215903* MORTDO 4: Family-Fannie MaeiFreddie Mac UNIFORM INSTRUMENT Form 3005 1101 (page 6 of15 pages, Mortgage Cadence Document Center @i 3004 09114 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower?s principal residence within 60 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. 7. Preservation, Maintenance and Protection of the Property; inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall repair the Property it damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. - 8. Borrower?s Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower?s knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender?s Interest in the Property and Rights Under this Security Instrument. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, there is a legal proceeding that might significantly affect Lender?s interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender?s interest in the Property and rights under this Security Instrument, including protecting andfor assessing the value of the Property, and securing andlor repairing the Property. Lender's actions can include, but are not limited to: paying any sums secured by a lien which has priority over this Security Instrument; appearing in court; and paying reasonable attorneys? fees to protect its interest in the Property andior rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. it is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless II II II II II *5019215903-k CMORTDO Family-Fannie MaefFreddie Mac UNIFORM INSTRUMENT Form 3005 MM (page 7of15 pages, Mortgage Cadence Document Center (ti) 3004 09114 Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were clue when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments 'as a non?refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage insurance in effect, or to provide a non? refundable Ioss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower?s obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower?s payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer?s risk, or reducing losses. If such agreement provides that an af?liate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance.? Further: Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. Any such agreements will not affect the rights Borrower has if any with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage insurance, to have the Mortgage Insurance terminated automatically, andlor to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are Hill? ii II II *5019215903* 1* Family?Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3005 1i01 (page 8 of 15 pages, Mortgage Cadence DocumentCenter 3004 09(14 hereby assigned to and shall be paid to Lender. if the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender?s security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender?s satisfaction, provided that such inspection shall be undertaken Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender?s security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous 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 Opposing Party (as defined in the next sentence) offers to make an award to 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 Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party? means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender?s judgment, could result in forfeiture of the Property or other material impairment of Lender?s interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender?s interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. 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 Borrower or any Successor in interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence Hill? I II II II *5019215903* MORTDO Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3M5 ?ll01 (page 9 of 15 pages, Mortgage Cadence Document Center a 3004 09PM proceedings against any Successor in Interest of Borrower or to 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 Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower?s obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a ?co?signer?): is co? signing this Security Instrument only to mortgage, grant and convey the co-signer?s interest in the Property under the terms of this Security Instrument; is not personally obligated to pay the sums secured by this Security instrument; and agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower?s obligations under this Security Instrument in writing. and is approved by Lender, shall obtain all of Borrower?s rights and bene?ts under this Security Instrument. Borrower shall not be released from Borrower?s obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender?s interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys? fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. if the Loan is subject to a law which sets maximum loan charges, and that law is ?nally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and 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 (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by ?rst class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall notify Lender of Borrower?s change of address. If Lender specifies a procedure for reporting Borrower?s change of address. then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by ?rst class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding Ill *50192?159031k MCMD Family-Fannie MaefFreddie Mac UNIFORM INSTRUMENT Form 3005 11M (page 10 of ?15 pages, Mortgage Cadence Document Center 3004 09/14 requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note con?icts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the con?icting provision. As used in this Security instrument: words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; words in the singular shall mean and include the plural and vice versa; and the word "may" gives sole discretion without any obligation to take any action. 17. Borrower?s Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, ?Interest in the Property" means any legal or bene?cial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender?s prior written consent, Lender may require immediate payment in full of all some secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. 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 given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these some prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower?s Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b )such other period as Applicable Law might specify for the termination of Borrower?s right to reinstate; or entry of a judgment enforcing this Security instrument. Those conditions are that Borrower: pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; cures any default of any other covenants or agreements; pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys? fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and takes such action as Lender may reasonably require to assure that Lender?s interest in the Property and rights under this Security Instrument, and Borrower?s obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: cash; money order; certified check, bank check, treasurer?s check or cashier?s check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentaiity or entity; or Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shail remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial ill iill Family-Fannie MaeiFreddie Mao UNIFORM INSTRUMENT Form 3005 {page 11 of 15 pages, Mortgage Cadence Document Center 3004 09f14 interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the ?Loan Service?) that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might 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 which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. if the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. if Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: "Hazardous Substances" are those substances de?ned as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other ?ammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; ?Environmental Law? means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (0) "Environmental Cleanup? includes any response action, remedial action, or removal action. as defined in Environmental Law; and an ?Environmental Condition? means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law, which creates an Environmental Condition, or which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall give Lender 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, any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is noti?ed by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any If Ill ilill ill ll ll Family-Fannie Mac UNIFORM INSTRUMENT c:Forl'l'l 3005 R1101 (page $2 of T15 pages Mortgage Cadence DccumentCenter 3004 09(14 obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. 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 Section 18 unless Applicable Law provides otherwise). The notice shall specify: the default; (in) the action required to cure the default; a date, not less than 30 clays from the date the notice is given to Borrower, by which the default must be cured; and that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Borrower of 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 sums secured by this Security Instrument without further demand and 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 Section 22, including, but not limited to, reasonable attorneys? 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. Trustee shall give public notice of sale to the persons and in the manner prescribed by Applicable Law. After the time 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 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: to all expenses of the sale, including, but not limited to, reasonable Trustee?s and attorneys' fees; to all sums secured by this Security Instrument; and any excess to the person or persons legally entitled to it. 23. 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 does not exceed the fee set by Applicable Law, the fee is conclusively presumed to be reasonable. 24. 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 acknowledged by Lender and recorded in the office 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 Hill II II II it ll *5019215903* M0 DO Family?Fannie MaeiFreddie Mac UNIFORMINSTRUMENT Form 3005 ?01 (page 13 of1?pages, Mortgage Cadence Document Center 3004 09?4 Trustee herein and by Applicable Law. This procedure for substitution of trustee shall govern to the exclusion of all other provisions for substitution. 25. Statement of Obligation Fee. Lender may collect a fee not to exceed the maximum amount permitted by Applicable Law for furnishing the statement of obligation as provided by Section 2943 of the Civil Code of California. The undersigned Borrower requests that a copy of any Notice of Default and any Notice of Sale under this Security Instrument be mailed to the Borrower at the address set forth abOVe. BY SIGNING BELOW, Borrower accepts and agrees to th erms and covenants contained in this Securi Instrument and in any Rider executed by Borrower an corded with it. TM 7?63; (Sean (Seal) Borro - Stephen Resnick, Stephe Resnick is joining in the Truste of the Stephen B- Resnick execut' of this Security Instrument 2014 iving Trust under trust solel to the purpose of consenting instru ent dated June 12, 2014 encumbrance of, and to waive an rights of ownership in, the scribed Property. BY SIGNING ELOW, the undersigned, Settlor(s) of the Stephen B. Resnick 2014 Living Trust created und trust instrument dated June 12, 2014, acknowledges all of the terms and covenants contained in is Security Instrument and any rider(s) thereto and agrees to be bound thereby. (Seal) Steph Resnick, Trust Settlor, Steph B. Resnick 2014 Living Trust reated under trust instrument dated June 12, 2014 [Space Below This Line for Acknowledgment] *5019215903?r Family?Fannie MaefFreddie Mac UNIFORM INSTRUMENT Form 3005 1!01 (page 14 of 15 pagesJ Mortgage Cadence Document Center 3004 09f?I4 A eatery petite: or other officer compiet'rng this certi?cate veri?es eety the identity of the individeat who. argued the document to which this certi?cate is attested. and not the trottrtetnees, aoceraoy. or ef that document. State of California County of Los Angeles On 343'} . 9 if: before Me, @115 515th: 140 N?rl'?f?lgeifs?onally appearea Stephen Resnick who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) isfare subscribed to the within instrument and acknowledged to me that hefshelthey executed the same in his/herftheir authorized capacity?es), and that by his/herltheir signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. GAFI 0L M. SANKOVICH Commission at! 2147544 Notary Public - California Los Angeles County WITNESS my hand . . official sel. Signature (Seal) NOTARY MUST OR TYPE This must be rinted ort ed in a manner that is hoto .a hicall re reducible (30270015 Name ofthe notary: {53ml} M, 3?in Ear/1gb County of notary?s principal place of business: Log Amgpleg? Notary's phone number: 3'23?- "1 ?73 Notary?e registration number: Q14 3; Commission expiration date: Apr-[l 12 102. r? Origination Company: Premier America Credit Union ID: 1277691 Originator: Deneen Jambor ID: 709970 0 0 Family-Fannie MaefFreddie Mac UNIFORM INSTRUMENT Form 3005 1f01 (page 15 of ?15 payee Mortgage Cadence Document Center 3004 09114 I 1k *50?19215903?k ll LEGAL DESCRIPTION THAT PORTION OF LOT 8 OF TRACT 19543, IN THE CITY OF LOS ANGELES, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 621 PAGES 8 TO 10 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST SOUTHERLY CORNER OF SAID THENCE ALONG THE WESTERLY LINE THEREOF NORTH 00? 34' 00" EAST 205.78 THENCE NORTH 68? 29' 14" EAST 166.41 THENCE SOUTH 57? 47' 03" EAST 27.00 FEET TO THE WESTERLY LINE OF RISING GLEN ROAD AS SHOWN ON SAID THENCE SOUTHERLY ALONG SAID ROAD BEING A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 91.00 FEET, AN ARC DISTANCE OF 142.89 FEET TO THE SOUTHERLY LINE OF SAID THENCE THEREON SOUTH 52? 55" WEST 203.74 FEET TO THE POINT OF BEGINNING. SAID LAND IS ALSO SHOWN AS PARCEL PARCEL MAP L.A. NO. 381 FILED IN BOOK 3 PAGE 83 OF PARCEL MAPS. APN: 5561*023-050 Loan #1 5019215903 ADJUSTABLE RATE RIDER (1 Year Treasury Rate - 7 Year Interest Only Period Index?Rate Caps) THIS ADJUSTABLE RATE RIDER is made this 21st day of September, 2018. and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trustl or Security Deed {the ?Security Instrument") of the same date given by the undersigned ("Borrower?) to secure Borrower's FixedIAdjustable Rate Note (the ?Note") to Premier America Credit Union ("Lender") of the same date and covering the property described in the Security Instrument and located at: 1889 Rising Glen Road, Los Angeles, CA 90069 [Property Address] THE NOTE PROVIDES FOR A CHANGE IN FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADJUSTABLE RATE AND PAYMENT CHANGES The Note provides for an initial fixed interest rate of 4.625%. The Note also provides for a change in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND PAYMENT CHANGES (A) Change Dates The initial fixed interest rate I will pay will change to an adjustable interest rate on the first day of October, 2025, and the adjustable interest rate I will pay may change on that day every Twelfth (12th) month thereafter. The date on which my initial ?xed interest rate changes to an adjustable interest rate, and each date on which my adjustable interest rate could change, is called a ?Change Date." MULTISTATE ARM RIDER 1 Yesar Treasury3 Rate- 7 Year Interest Only Period 1* A Mortgage Cadence Document Center PA12589 OWENS (Page 1 0M) (B) The Index Beginning with the ?rst Change Date, my adjustable interest rate will be based on an Index. The "Index" is The weekly average yield on United States Treasury securities adjusted to a constant maturity of one year, as made available by the Federal Reserve Board. The most recent Index ?gure available as of the date 45 days before each Change Date is called the ?Current Index.? If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding THREE AND 250I1000 percentage points to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point Subject to the limits stated in Section below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the payment that would be sufficient to repay the unpaid principal that i am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 9.625% or less than 3.250%. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more than TWO AND N011 00 percentage points from the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 9.625%. (E) Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new payment beginning on the first payment date after the Change Date until the amount of my payment changes again. (F) Notice of Changes The Note Holder will deliver or maii to me a notice of any changes in my initial ?xed interest rate to an adjustable interest rate and of any changes in my adjustable interest rate before the effective date of any change. The notice will include the amount of my payment, any information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER 1. Until Borrower?s initial fixed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant ?18 of the Security Instrument shall read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, ?Interest in the Property" means any legal or bene?cial interest in the Property, including, but not limited to, those bene?cial interests transferred in a bond for dead, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. I ?I'll? JI MULTISTATE ARM RIDER 1 Year Treasury?) Rate- 7 Year Interest Only Period Mortgage Cadence Document Center PA12589 07(2016 (Page 2 0M) If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a bene?cial interest in Borrower is sold or transferred) without Lender?s prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. 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 given in accordance with Section 15 within which Borrower must 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. 2. When Borrower's initial ?xed interest rate changes to an adjustable interest rate under the terms stated in Section A above, Uniform Covenant 18 of the Security Instrument described in Section B1 above shall then cease to be in effect, and the provisions of Uniform Covenant 18 of the Security Instrument shall be amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, ?Interest in the Property" means any legal or bene?cial interest in the Property, including, but not limited to, those bene?cial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a bene?cial interest in Borrower is sold or transferred) without Lender?s prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and Lender reasonably determines that Lender?s security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender?s consent to the loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, 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 given in accordance with Section 15 within which Borrower must 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. II *5019215903* mes MULTISTATE ARM RIDER 1 Year Treasury Rate - 7 Year Interest Only Period Mortgage Cadence Document Center PA12589 0?l'2015 (Page 3 01'4) BY 81 NING BELOW, Borrower accepts and agrees to the ter 8 and covenants contained in this FixedIAdjust le Rate Rider. (Seal) (Seal) Borro r- Stephen Resnick, Steph BuResnick is joining in the Truste the Stephen B. Resnick exec ion of this Security Instrument 2014 iving Trust under trust 5 [y for the purpose of consenting instr ment dated June 12, 2014 to the encumbrance of, and to waive any rights of ownership in, the described Property. Origination Company: Premier America Credit Union ID: 1277691 Originator: Deneen Jambor ID: 709970 LII JIILI IJJ 1 MULTISTATE ARM RIDER 1 Year Treasury Rate - 7 Year Interest Only Period Mortgage Cadence Document Center 65} PA12539 07i20'16 {Page 4 of 4] Loan #2 5019215903 BALLOON RIDER (CONDITIONAL RIGHT TO REFINANCE) THIS BALLOON RIDER is made this 21st day of September, 2018, 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 Premier America Credit Union ("Lender") of the same date and covering the property described in the Security Instrument and located at: 1889 Rising Glen Road, Los Angeles, CA 90069 [Property Address] The interest rate stated on the Note is called the "Note Rate." The date of the Note is called the "Note Date.? I understand Lender may transfer the Note, Security Instrument, and this Rider. Lender or anyone who takes the Note, the Security Instrument, and this Rider by transfer and who is entitled to receive payments under the Note is called the ?Note Holder." ADDITIONAL COVENANTS. In addition to the covenants and agreements in the Security Instrument, Borrower and Lender further covenant and agree as follows (despite anything to the contrary contained in the Security Instrument or the Note): 1. CONDITIONAL RIGHT TO REFINANCE At the Maturity Date of the Note and Security Instrument (the ?Maturity Date"), I will be able to obtain a new loan (?New Loan") with a new Maturity Date of October 01, 2033, and with an interest rate equal to the ?New Note Rate? determined in accordance with Section 3 below if all the conditions provided in Section 2 and 5 below are met (the "Conditional Refinancing Option?). If those conditions are not met, I understand that the Note Holder is under no obligation to re?nance or modify the Note, or to extend the Maturity Date, and that I will have to repay the Note from my own resources or find a lender willing to lend me the money to repay the Note. 2. CONDITIONS T0 OPTION If I want to exercise the Conditional Re?nancing Option at maturity, certain conditions must be met as of the Maturity Date. These conditions are: I must still be the owner of the property subject to the Security Instrument (the "Property"); I must be current in my payments and cannot have been more than 30 days late on any of the 12 scheduled payments immediately preceding the Maturity Date; the New Note Rate cannot be more than five percentage points above the Note Rate; and I must make a written request to the Note Holder as provided in Section 5 below. 3. CALCULATING THE NEW NOTE RATE The New Note Rate will be a fixed rate of interest equal to Fannie Mae's required net yield for 30- year fixed-rate mortgages subject to a 60-day mandatory delivery commitment, plus one-half of one percentage point (0. rounded to the nearest one?eighth of one percentage point (0.125%) (the ?New Note Rate?) The required net yield shall be the applicable not yield in effect on the date and time rtgage WadencenocumentCen 09116 that the Note Holder receives notice of my election to exercise the Conditional Refinancing Option. If this required net yield is not available, the Note Holder will determine the New Note Rate by using comparable information. 4. CALCULATING THE NEW PAYMENT AMOUNT Provided the New Note Rate as calculated in Section 3 above is not greater than five percentage points above the Note Rate and all other conditions required in Section 2 above are satisfied, the Note Holder will determine the amount of the payment that will be sufficient to repay in full the unpaid principal, plus accrued but unpaid interest, plus all other sums I will owe under the Note and Security Instrument on the Maturity Date (assuming my payments then are current, as required under Section 2 above), over the term of the New Note at the New Note Rate in equal payments. The result of this calculation will be the amount of my new principal and interest payment every month until the New Note is fully paid. 5. EXERCISING THE CONDITIONAL REFINANCING OPTION The Note Holder will notify me at least 90 calendar days in advance of the Maturity Date and advise me of the principal, accrued but unpaid interest, and all other sums I am expected to owe on the Maturity Date. The Note Holder also will advise me that i may exercise the Conditional Refinancing Option if the conditions in Section 2 above are met. The Note Holder will provide my payment record information, together with the name, title, and address of the person representing the Note Holder that i must notify in order to exercise the Conditional Refinancing Option. If I meet the conditions of Section 2 above, I may exercise the Conditional Refinancing Option by notifying the Note Holder no later than 45 calendar days prior to the Maturity Date. The Note Holder will calculate the ?xed New Note Rate based upon Fannie Mae?s applicable published required net yield in effect on the date and time of day noti?cation is received by the Note Holder and as calculated in Section 3 above. I will then have 30 calendar days to provide the Note Holder with acceptable proof of my required ownership. Before the Maturity Date, the Note Holder will advise me of the new interest rate (the New Note Rate), new payment amount, and a date, time, and place at which I must appear to sign any documents required to complete the required re?nancing. I understand the Note Holder will charge me a $250 processing fee and the osts associated with updating the title insurance policy, if any. BY SIGNING BELOW, Borrower accepts and agre to the terms and covenants contai in this Balloon Rider. II {2222/ (Seal) (Seal) er Stephen Resnick, Stephen R?snick isjoining in the uste of the Stephen B. Resnick execution of this Security Instrument 014 Living Trust under trust soleiy for he purpose of consenting strument dated June 12, 2014 to the en :umbrance of, and to waive any righ of ownership in, the describ Property. Sign Original Oniy] Origination Company: PremierAmerica Credit Union 10: 1277691 Originator: Dene-en Jambor iD: 709970 II Mo rtgage Cadence Document Gent ter 09116 Loan 5019215903 1-4 FAMILY RIDER (Assignment of Rents) THIS 1-4 FAMILY RIDER is made this 21st day of September, 2018, 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 (the ?Borrower") to secure Borrower?s Note to Premier America Credit Union (the "Lender?) of the same date and covering the Property described in the Security Instrument and located at: 1889 Rising Glen Road, Los Angeles, CA 90069 [Property Address] 1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property described in Security Instrument, the following items now or hereafter attached to the Property to the extent they are fixtures are added to the Property description, and shall also constitute the Property covered by the Security Instrument: building materials, appliances and goods of every nature whatsoever now or hereafter located in, on, or used, or intended to be used in connection with the Property, including, but not limited to, those for the purposes of supplying or distributing heating, cooling, electricity, gas, water, air and light, ?re prevention and extinguishing apparatus, security and access control apparatus, plumbing, bath tubs, water heaters, water closets, sinks, ranges, stoves, refrigerators, dishwashers. disposals, washers, dryers, awnings. storm windows, storm doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneling and attached floor coverings. all of which, including replacements and additions thereto, shalt be deemed to be and remain a part of the Property covered by the Security Instrument. All of the foregoing together with the Property described in the Security Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and the Security Instrument as the ?Property." B. USE OF COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of the Property or its zoning classi?cation, unless Lender has agreed in writing to the change. Borrower shall comply with all laws, ordinances, regulations and requirements of any governmental body applicable to the Property. C. SUBORDINATE LIENS. Except as permitted by federal law, Borrower shall not I II *5019215903?r MC MULTISTATE 1-4 FAMILY Mael'Freddie Mac UNIFORM INSTRUMENT Form 3170 1101 Mortgage Cadence Document Center 3206 01114 (page 1 Of4 pages) allow any lien inferior to the Security Instrument to be perfected against the Property without Lender?s prior written permission. D. RENT LOSS INSURANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards for which insurance is required by Section 5. E. RIGHT TO DELETED. Section ?19 is deleted. F. OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, Section 6 concerning Borrower's occupancy of the Property is deleted. G. ASSIGNMENT 0F LEASES. Upon Lender's request after default, Borrower shall assign to Lender all leases of the Property and all security deposits made in connection with leases of the Property. Upon the assignment, Lender shall have the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used in this paragraph G, the word ?lease" shall mean ?sublease? if the Security Instrument is on a leasehold. H. ASSIGNMENT 0F APPOINTMENT OF LENDER IN POSSESSION. Borrower absolutely and unconditionally assigns and transfers To Lender all the rents and revenues ("Rents") of the Property, regardless of to whom the Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property shall pay the Rents to Lender or Lender's agents. However, Borrower shall receive the Rents until Lender has given Borrower notice of default pursuant to Section 22 of the Security Instrument and (ii) Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. This assignment of Rents constitutes an absolute assignment and not an assignment for additional security only. If Lender gives notice of default to Borrower: all Rents received by Borrower shall be held by Borrower as trustee for the bene?t of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender shall be entitled to collect and receive all of the Rents of the Property; Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied ?rst to the costs of taking control of and managing the Property and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees, premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other charges on the Property, and then to the sums secured by the Security Instrument; Lender, Lender's agents or any judicially appointed receiver shall be liable to account for only those Rents actually received; and (vi) Lender shall be entitled to have a receiver appointed to take possession of and manage the Property and collect the Rents and profits derived from the Property without any showing as to the inadequacy of the Property as security. If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property and of collecting the Rents any funds expended by Lender for such purposes shall become indebtedness of Borrower to Lender secured by the Security Instrument pursuant to Section 9. Borrower represents and warrants that Borrower has not executed any prior assignment of the Rents and has not performed. and will not perform, any act that would prevent Lender from exercising its rights under this paragraph. Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter upon, take control of or maintain the Property before or after giving notice of default to Borrower. However, Lender, or Lender?s agents or a judicially appointed receiverMULTISTATE 1-4 FAMILY MaefFreddie Mac UNIFORM INSTRUMENT Form 3170 Mortgage Cadence Doeumer'rl Center 3206 01I14 (page 2 of4 pages) any time when a default occurs. 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 all the sums secured by the Security Instrument are paid in full. I. CROSS-DEFAULT PROVISION. Borrower?s default or breach under any note or agreement in which Lender has an interest shall be a breach under the Security Instrument and Lender ay invoke any of the remedies permitted by the Security instrument. SIGNING BELOW, Borrower accepts and agrees to the ter nd covenants contained in this 1?4 mily Rider. Hf? (Seal) (Seal) Borro I ?r - Stephen Resnick, Stephen Re nick is joining in the Trust Bf the Stephen B. Resnick execution of 't Is Security instrument 2014 iving Trust under trust solely for th purpose of consenting mbrance of, and to waive any rights of ownership in, the described Property. instru ent dated June 12, 2014 *50192?15903-1: MULTISTATE 1-4 FAMILY MaeIFreddie Mac UNIFORM INSTRUMENT Form 3170 1M1 Mortgage Cadence Document Center 3206 01(14 (page 3 of4 pages) BY SIGNING LOW, the undersigned, Settlor(s) of the Stephen B. Resnick 2014 Living Trust created unde rust instrument dated June 12, 2014, acknowledges all of the terms and covenants contained in his Security instrument and any rider(s) thereto and agrees to be bound thereby. i Stephen esnick, Trust Settlor, Stephen . esnick 2014 Living Trust ore ted under trust instrument dated Ju 12,2014 (Seal) Origination Company: Premier America Credit Union Originator: Deneen Jambor ID: 7099?0 *50192159031" MULTISTATE 1-4 FAMILY MaelFreddie Mac UNIFORM INSTRUMENT Mortgage Cadence Domment Center 3206 01.114 (page 4 of 4 pages) Loan at: 5019215903 INTER VIVOS REVOCABLE TRUST RIDER DEFINITIONS USED IN THIS RIDER (A) "Revocable Trust." The Stephen B. Resnick 2014 Living Trust created under trust instrument dated June 12, 2014. (B) "Revocable Trust Stephen Resnick trustee(s) of the Revocable Trust. (C) "Revocable Trust Stephen Resniok of the Revocable Trust signing below. (D) "Lender." Premier America Credit Union. (E) "Security Instrument." The Deed of Trust, Mortgage or Security Deed and any riders thereto of the same date as this Rider given to secure the Note to the Lender of the same date made by the revocable Trust, the Revocable Trust Trustee(s) and the Revocable Trust SettlorIs) and any other natural persons signing such Note and covering the Property (as de?ned below). (F) "Property." The property described in the Security Instrument and located at: 1889 Rising Glen Road, Los Angelee, CA 90069 (Property Address) THIS INTER VIVOS REVOCABLE TRUST RIDER is made this 21st day of September, 2013, and is incorporated into and shall be deemed to amend and supplement the Security Instrument. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, the Revocable Trust Trustee(s), and the Revocable Trust Settlor(s) and the Lender further covenant and agree as follows: A. INTER VIVOS REVOCABLE TRUST 1. CERTIFICATION AND WARRANTIES OF REVOCABLE TRUST The Revocable Trust Trustee(s) certify to the Lender that the Revocable Trust is an inter vivos revocable trust for which the Revocable Trust Trustee(s) are holding full title to the Property as trustee(s). The Revocable Trust Trustee(s) warrants to the Lender that the Revocable Trust is validly created under (ii) the trust instrument creating the Revocable Trust is in full force and effect and there are no amendments or other modifications to the trust instrument affecting the revocability of the Revocable Trust; the Property is located in the State of California; (iv) the Revocable Trust TrusteeIs) have full power and authority as trustee(s) under the trust instrument creating the Revocable Trust and under applicable law to execute the Security Instrument including this Rider; )the Revocable Trust IILI II II II Mortgage Cadence DocumenlCenter 1112 Oct-I16 Page 1 0M Trusteets) have executed the Security Instrument, including this Rider, on behalf of the Revocable Trust; (vi) the Revocable Trust Settlor(s) have executed the Security Instrument, including this Rider, acknowledging all of the terms and conditions contained therein and agreeing to be bound thereby; (vii) only the Revocable Trust Settlor(s) and the Revocable Trust Trustee(s) may hold any power of direction over the Revocable Trust; only the Revocable Trust Settlor(s) hold the power to direct the Trustee(s) in the management of the Property; (ix) only the Revocable Trust Settlor(s) hold the power of revocation over the Revocable Trust; and the Revocable Trust Trustee(s) have not been noti?ed of the existence or assertion of any lien, encumbrance or claim against any beneficial interest in, or transfer of all or any portion of any beneficial interest in or powers of direction over the Revocable Trust Trustee(s) or the Revocable Trust, as the case may be, or power of revocation over the Revocable Trust. 2. NOTICE OF CHANGES TO REVOCABLE TRUST AND TRANSFER OF POWERS OVER REVOCABLE TRUST OR REVOCABLE TRUST OR NOTICE OF CHANGE OF REVOCABLE TRUST NOTICE OF CHANGE OF OCCUPANCY OF THE NOTICE OF TRANSFER OF BENEFICIAL INTEREST IN REVOCABLE TRUST The Revocable Trust Trustee(s) shall provide timely notice to the Lender upon notice or knowledge of any revocation or termination of the Revocable Trust. or of any change in the holders of the powers of direction over the Revocable Trust Trustee(s) or the Revocable Trust, as the case may be, or of any change in the holders of the power of revocation over the Revocable Trust, or both, or of any change in the trustee(s) of the Revocable Trust (whether such change is temporary or permanent), or of any change in the occupancy of the Property, or of any sale, transfer, assignment or together disposition (whether by operation of law or otherwise) of any bene?cial interest in the Revocable Trust. B. ADDITIONAL The term "Borrower" when used in the Security Instrument shall refer to the Revocable Trust, the Revocable Trust Trustee(s) and the Revocable Trust Settlor(s), jointly and severally. Each party signing this Rider below (whether by accepting and agreeing to the terms and covenants contained herein or by acknowledging all of the terms and covenants contained herein and agreeing to be bound thereby, or both) covenants and agrees that, whether or not such party is named as "Borrower? on the ?rst page of the Security Instrument, each covenant and agreement and undertaking of the ?Borrower" in the Security Instrument shall be such party?s covenant and agreement and undertaking as "Borrower" and shall be enforceable by the Lender as if such party were named as "Borrower" in the Security Instrument. C. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN THE REVOCABLE TRUST Uniform Covenant 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Bene?cial Interest in Revocable Trust. If, without the Lender?s prior written consent, all or any part of the Property or an interest in the Property is sold or transferred or (ii) there is a sale, transfer, assignment or other disposition of any bene?cial interest in the Revocable Trust, the Lender may, at its option, require immediate payment in full of all sums secured by the Security Instrument. However, this option shall not be exercised by the Lender if exercise is prohibited by federal law as of the date of the Security Instrument. If the Lender exercises this option, the Lender shall give the 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 the borrower must pay all sums secured by the Security Instrument. If the Borrower fails to pay all some secured prior to the expiration of this period, the Lender may invoke any and all remedies permitted by the Security Instrument without further notice or demand on the Borrower. Ll ill Mortgage Cadence Document Center ?1112 04/16 Page 2 of 4 BY SIGNING BELOW, the Revocable Trust Trustee(s) ac and agrees to the terms and cov ants contained in this Inter Vivos Revocable Trust Rider. WW (Seal) (Seal) til-rower - Stephen B?Resnick, ru 2 tee of the Stephen B. Resnick 14 Living Trust under trust solely or he purpose of consenting instrument dated June 12, 2014 to th encumbrance of, and to waive any rights of ownership in, the described Property. LILIILI ill Mortgage Cadence Documenl Center 1112 04116 Page 3 of 4 BY GNING BELOW, the undersigned, Settlor(s) of the Stephen B. Resnick 2014 Living Trust created und trust instrument dated June 12, 2014, acknowledges all of the terms and covenants contained i his Security Instrument and any rider(s) thereto and agrees to be bound thereby. i I