2011-08-09_REVISION - M1981185 (51)

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• this Deed of Trust, (ii) the creation of a purchase money security interest for household appliances, or (iii) a transfer by devise; descent or by operation of the law upon the death of a joint tenant At the election of Lender, in the event'.of each and every transfer: (a) All sums.. secured by this Deed of Trust shall become immediately due and payable (Acceleration). (b) If a Transfer occurs and should Lender not exercise Lender's option pursuant to this paragraph 24 to Accelerate, Transferee shall be deemed to have assumed all of the obligations of Borrower under this Deed of Trust including all sums secured hereby whether or not the instrument evidencing such conveyance, contract or grant expressly so provides. This covenant shall run with the Property and remain hi full force and effect until said sums are paid in full. The Lender may without notice to the Borrower deal with', Transferee in the same manner as with the Borrower with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on payment in full of said sums, without in any way altering or discharging the Borrower's liability hereunder for the obligations hereby secured. (c) Should Lender not elect to Accelerate upon the occurrence of such Transfer then, subject to (b) above, the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not Lender had actual or constructive notice of such Transfer, shall not be deemed a waiver of Lender's right to make such election nor shall Lender be estopped therefrom by virtue thereof. The issuance on behalf .of the Lender of a routine statement showing the status of the loan, whether or not Lender had actual pz constructive notice of such Transfer, shall not be a waiver or estoppel of Lender's said rights. 25. Borrower's Copy. Borrower acknowledges receipt of a copy of the Note and this Deed of Trust. • CALIFORNIA ALL.PURPOSE ACKNOWLEDGMENT State of California County of SAN DIEGO' On I ;le • , before me, C.NARRIS -NOTARY PUBLIC l . - - - ' ,A tiro me TU of Mat (e.g.. Vane Oft (Saar KIM appeared r` • ChataLltS M.a.N a syaerN ❑ personally known to me lrproved to me on the basis of satisfactory evidence wee Moan c.l Above s EXECUTED BY BORROWER norrirer No. TD72404. DEEDpP TRUST (DUE ON TRANSFER - STRICT) I es. to be the person(4 whose name(sr IsKre subscribed to the within instrument and acknowledged to me that he /shei hey executed the same in his/herfttt Ir authorized capacity(gd), and that by his/t f1l1 Ir slgnature(p) on the Instrument the person(¢, or the entity upon behalf of which the person(!;) acted, executed the Instrument WITNESS m • d official seal. , I i Pages of5 Cs• Initial