Loading...
HomeMy WebLinkAboutPA2021-271_20211109_Preliminary Title ReportCLTA Preliminary Report Form Order Number: NHSC-6720912 (jd) (Rev. 11/06) Page Number: 1 First American Title First American Title Company 1250 Corona Pointe Court, Suite 200 Corona, CA 92879 Will Rolph Civilscapes Engineering, Inc 28052 Camino Capistrano, Suite 213 Laguna Niguel, CA 92677 Customer Reference: TPM 2021-199 Order Number: NHSC-6720912 (jd) Title Officer: Jesus Duran Phone: (951)256-5820 Fax No.: (714)481-9208 E-Mail:jduran@firstam.com Buyer: . Property: Vacant Land, Newport Beach, CA PRELIMINARY REPORT In response to the above referenced application for a policy of title insurance, this company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a Policy or Policies of Title Insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lien or encumbrance not shown or referred to as an Exception below or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said Policy forms. The printed Exceptions and Exclusions from the coverage and Limitations on Covered Risks of said policy or policies are set forth in Exhibit A attached. The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. Limitations on Covered Risks applicable to the CLTA and ALTA Homeowner's Policies of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Exhibit A. Copies of the policy forms should be read. They are available from the office which issued this report. Please read the exceptions shown or referred to below and the exceptions and exclusions set forth in Exhibit A of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered. It is important to note that this preliminary report is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land. Please be advised that any provision contained in this document, or in a document that is attached, linked or referenced in this document, that under applicable law illegally discriminates against a class of individuals based 1 ,-1111 E • 1 ~ First American Title PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 2 First American Title upon personal characteristics such as race, color, religion, sex, sexual orientation, gender identity, familial status, disability, national origin, or any other legally protected class, is illegal and unenforceable by law. This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested. PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 3 First American Title Dated as of October 25, 2021 at 7:30 A.M. The form of Policy of title insurance contemplated by this report is: To Be Determined A specific request should be made if another form or additional coverage is desired. Title to said estate or interest at the date hereof is vested in: BIRE II, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY The estate or interest in the land hereinafter described or referred to covered by this Report is: A fee. The Land referred to herein is described as follows: (See attached Legal Description) At the date hereof exceptions to coverage in addition to the printed Exceptions and Exclusions in said policy form would be as follows: 1. General and special taxes and assessments for the fiscal year 2021-2022. First Installment: $12,852.52, OPEN Penalty: $0.00 Second Installment: $12,852.52, OPEN Penalty: $0.00 Tax Rate Area: 07-001 A. P. No.: 459-113-09 2. Supplemental taxes for the year 2020-2021 assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code. First Installment: $ 2,912.14, PAID Penalty: $ 0.00 Second Installment: $ 2,912.13, DELINQUENT Penalty: $ 314.21 Tax Rate Area: 07-001 A. P. No.: 459-113-09.0100 3. The lien of supplemental taxes, if any, assessed pursuant to Chapter 3.5 commencing with Section 75 of the California Revenue and Taxation Code. PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 4 First American Title 4. The terms and provisions contained in the document entitled CERTIFICATE OF ACCEPTANCE recorded July 26, 2001 as INSTRUMENT NO. 01-506554 of Official Records. 5. A deed of trust to secure an original indebtedness of $1,676,500.00 recorded December 03, 2020 as INSTRUMENT NO. 20-708583 OF OFFICIAL RECORDS. Dated: November 25, 2020 Trustor: BIRE II, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY Trustee: FIRST AMERICAN TITLE INSURANCE COMPANY Beneficiary: PREMIER AMERICA CREDIT UNION 6. Rights of parties in possession. Prior to the issuance of any policy of title insurance, the Company will require: 7. With respect to Bire II, LLC, an Illinois limited liability company: a. A copy of its operating agreement and any amendments thereto; b. If it is a California limited liability company, that a certified copy of its articles of organization (LLC- 1) and any certificate of correction (LLC-11), certificate of amendment (LLC-2), or restatement of articles of organization (LLC-10) be recorded in the public records; c. If it is a foreign limited liability company, that a certified copy of its application for registration (LLC-5) be recorded in the public records; d. With respect to any deed, deed of trust, lease, subordination agreement or other document or instrument executed by such limited liability company and presented for recordation by the Company or upon which the Company is asked to rely, that such document or instrument be executed in accordance with one of the following, as appropriate: (i) If the limited liability company properly operates through officers appointed or elected pursuant to the terms of a written operating agreement, such document must be executed by at least two duly elected or appointed officers, as follows: the chairman of the board, the president or any vice president, and any secretary, assistant secretary, the chief financial officer or any assistant treasurer; (ii) If the limited liability company properly operates through a manager or managers identified in the articles of organization and/or duly elected pursuant to the terms of a written operating agreement, such document must be executed by at least two such managers or by one manager if the limited liability company properly operates with the existence of only one manager. e. Other requirements which the Company may impose following its review of the material required herein and other information which the Company may require PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 5 First American Title INFORMATIONAL NOTES Note: The policy to be issued may contain an arbitration clause. When the Amount of Insurance is less than the certain dollar amount set forth in any applicable arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company or the Insured as the exclusive remedy of the parties. If you desire to review the terms of the policy, including any arbitration clause that may be included, contact the office that issued this Commitment or Report to obtain a sample of the policy jacket for the policy that is to be issued in connection with your transaction. 1. According to the latest available equalized assessment roll in the office of the county tax assessor, there is located on the land a(n) Multiple Family Residence known as 424 Fernleaf Avenue, Newport Beach, California. 2. According to the public records, there has been no conveyance of the land within a period of twenty four months prior to the date of this report, except as follows: A document recorded December 03, 2020 as INSTRUMENT NO. 20-708582 OF OFFICIAL RECORDS From: TROY M. REYNA AND PAMELA A. REYNA, HUSBAND AND WIFE AS COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP To: BIRE II, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY The map attached, if any, may or may not be a survey of the land depicted hereon. First American expressly disclaims any liability for loss or damage which may result from reliance on this map except to the extent coverage for such loss or damage is expressly provided by the terms and provisions of the title insurance policy, if any, to which this map is attached. PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 6 First American Title First American Title Company 1250 Corona Pointe Court, Suite 200 Corona, CA 92879 (951)256-5880 Fax - (909)476-2401 WIRE INSTRUCTIONS for First American Title Company, Demand/Draft Sub-Escrow Deposits Riverside County, California First American Trust, FSB 5 First American Way Santa Ana, CA 92707 Banking Services: (877) 600-9473 ABA 122241255 Credit to First American Title Company Account No. 3097840000 Reference Title Order Number 6720912 and Title Officer Jesus Duran Please wire the day before recording. First American Title PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 7 First American Title LEGAL DESCRIPTION Real property in the City of Newport Beach, County of Orange, State of California, described as follows: LOT 6 OF BLOCK 433, CORONA DEL MAR TRACT, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 3 PAGE(S) 41 AND 42 OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF ORANGE COUNTY, CALIFORNIA. APN: 459-113-09 PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 8 First American Title PR[PAR[O FOR ORANG~NL y, f"attr'!/~s~:isoRsno ~~:~~~~lr ;JLi1r TH[ ASzi~m x~R Assui;ra5 e:N;r~kjoUC[O, ITS AC US[S NOT ~~ ~;~~1s R£SERVfOCOUNTr ASSESSOR 2021 © COPYRIGHT ORANG ~i· 1fc1l1t ~I _J I I 02 I Qj I I 11 ' SECOND (54RD PL. J Et',#, re\. n11-a1-l,,II ,F_ 1101 -170.111,"'elT ,. --••••12 1??1-flflo'Jfl '"•' _. ,,. • DJ-20 ~--, J45-1' 'PAR,1%JJO-I Y""" ""fll11lJfj t:"':\'" • .r:'\ 118' 1 .. e-'I.U''I b ·1 I ),,~ ,1u1· 1118'1(.";\ :;.. FIRST (53RD PL,J "" --:i! c§ -BAYS/OE ([L£CTRIC WAYJ M,M, 3-42 052-02~ I L I 17 11 AVENUE -~ \!:j ~ ~ , 3 18 "" ~ . "" !ii ~ \ii ~ ~ s 11 ~ AVENUE ... ~ ,II, PROJ,9J8-0I el ;I!! .,~tm • ~ ei ~ 2S i.ruAc. ~ ... . J28-21 11.@9JB-01 el 498,499 <.o R, I 26 500,501 <> .. Ac.t.-, " • 2 PAR,2"' I 1◄' o. ~~·Le. J18-H 311,13' 39,33' OR/VE I 1052-08 r MARCH 1983 /052-01 CORONA DEL MAR PARCEL MAP PARCEL MAP PARCEL MAP P,M, 161-41, 201-17, 201-19, 201-23, 201-29, 228-14, 240-44, 251-19, 277-36, 310-5, 314-25, P,M, 318-1, 328-25, 328-21, 330-10, 336-35, 345-1, 352-11, 353-16, 355-40, 361-13, 364-9, P,M, 365-49, 370-19, 375-17, 377-18, 395-33, 391-31, 398-41, 403-20, 404-30 r-459-11 1 H = 100' NOTE -ASSESSOR'S BLOCK & PARCEL NUMBERS SHOWN IN CIRCLES ASSESSOR'S MAP BOOK 459 PAGE 11 COUNTY OF ORANGE D PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 9 First American Title NOTICE Section 12413.1 of the California Insurance Code, effective January 1, 1990, requires that any title insurance company, underwritten title company, or controlled escrow company handling funds in an escrow or sub- escrow capacity, wait a specified number of days after depositing funds, before recording any documents in connection with the transaction or disbursing funds. This statute allows for funds deposited by wire transfer to be disbursed the same day as deposit. In the case of cashier's checks or certified checks, funds may be disbursed the next day after deposit. In order to avoid unnecessary delays of three to seven days, or more, please use wire transfer, cashier's checks, or certified checks whenever possible. PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 10 First American Title EXHIBIT A LIST OF PRINTED EXCEPTIONS AND EXCLUSIONS (BY POLICY TYPE) CLTA STANDARD COVERAGE POLICY – 1990 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building or zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien, or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage or for the estate or interest insured by this policy. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comply with the applicable doing business laws of the state in which the land is situated. 5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any claim, which arises out of the transaction vesting in the insured the estate of interest insured by this policy or the transaction creating the interest of the insured lender, by reason of the operation of federal bankruptcy, state insolvency or similar creditors' rights laws. EXCEPTIONS FROM COVERAGE - SCHEDULE B, PART I This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public, records. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of the land or which may be asserted by persons in possession thereof. 3. Easements, liens or encumbrances, or claims thereof, not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the public records. 6. Any lien or right to a lien for services, labor or material unless such lien is shown by the public records at Date of Policy. PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 11 First American Title CLTA/ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE (12-02-13) EXCLUSIONS In addition to the Exceptions in Schedule B, You are not insured against loss, costs, attorneys' fees, and expenses resulting from: 1. Governmental police power, and the existence or violation of those portions of any law or government regulation concerning: a. building; b. zoning; c. land use; d. improvements on the Land; e. land division; and f. environmental protection. This Exclusion does not limit the coverage described in Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23 or 27. 2. The failure of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does not limit the coverage described in Covered Risk 14 or 15. 3. The right to take the Land by condemning it. This Exclusion does not limit the coverage described in Covered Risk 17. 4. Risks: a. that are created, allowed, or agreed to by You, whether or not they are recorded in the Public Records; b. that are Known to You at the Policy Date, but not to Us, unless they are recorded in the Public Records at the Policy Date; c. that result in no loss to You; or d. that first occur after the Policy Date - this does not limit the coverage described in Covered Risk 7, 8.e., 25, 26, 27 or 28. 5. Failure to pay value for Your Title. 6. Lack of a right: a. to any land outside the area specifically described and referred to in paragraph 3 of Schedule A; and b. in streets, alleys, or waterways that touch the Land. This Exclusion does not limit the coverage described in Covered Risk 11 or 21. 7. The transfer of the Title to You is invalid as a preferential transfer or as a fraudulent transfer or conveyance under federal bankruptcy, state insolvency, or similar creditors' rights laws. 8. Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence. 9. Negligence by a person or an Entity exercising a right to extract or develop minerals, water, or any other substances. LIMITATIONS ON COVERED RISKS Your insurance for the following Covered Risks is limited on the Owner's Coverage Statement as follows: For Covered Risk 16, 18, 19, and 21 Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A. The deductible amounts and maximum dollar limits shown on Schedule A are as follows: Your Deductible Amount Our Maximum Dollar Limit of Liability Covered Risk 16: 1% of Policy Amount Shown in Schedule A or $2,500 $10,000 (whichever is less) Covered Risk 18: 1% of Policy Amount Shown in Schedule A or $5,000 $25,000 (whichever is less) Covered Risk 19: 1% of Policy Amount Shown in Schedule A or $5,000 $25,000 (whichever is less) Covered Risk 21: 1% of Policy Amount Shown in Schedule A or $2,500 $5,000 (whichever is less) 2006 ALTA LOAN POLICY (06-17-06) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 12 First American Title (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 13, or 14); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business laws of the state where the Land is situated. 5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury or any consumer credit protection or truth-in-lending law. 6. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction creating the lien of the Insured Mortgage, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 13(b) of this policy. 7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the Insured Mortgage in the Public Records. This Exclusion does not modify or limit the coverage provided under Covered Risk 11(b). The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage: EXCEPTIONS FROM COVERAGE [Except as provided in Schedule B - Part II,[ t[or T]his policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees or expenses, that arise by reason of: [PART I [The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage: 1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 2. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 6. Any lien or right to a lien for services, labor or material unless such lien is shown by the Public Records at Date of Policy. PART II In addition to the matters set forth in Part I of this Schedule, the Title is subject to the following matters, and the Company insures against loss or damage sustained in the event that they are not subordinate to the lien of the Insured Mortgage:] 2006 ALTA OWNER'S POLICY (06-17-06) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to PA2021-271 Order Number: NHSC-6720912 (jd) Page Number: 13 First American Title (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 or 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage: EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage, and the Company will not pay costs, attorneys' fees or expenses, that arise by reason of: [The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage: 1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records. 2. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspection of the Land or that may be asserted by persons in possession of the Land. 3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 6. Any lien or right to a lien for services, labor or material unless such lien is shown by the Public Records at Date of Policy. 7. [Variable exceptions such as taxes, easements, CC&R's, etc. shown here.] ALTA EXPANDED COVERAGE RESIDENTIAL LOAN POLICY (07-26-10) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys' fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5, 6, 13(c), 13(d), 14 or 16. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 5, 6, 13(c), 13(d), PA2021-271 First American Title 14 or 16. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 16, 17, 18, 19, 20, 21, 22, 23, 24, 27 or 28); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortgage. 4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applicable doing-business laws of the state where the Land is situated. 5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evidenced by the Insured Mortgage and is based upon usury or any consumer credit protection or truth-in-lending law. This Exclusion does not modify or limit the coverage provided in Covered Risk 26. 6. Any claim of invalidity, unenforceability or lack of priority of the lien of the Insured Mortgage as to Advances or modifications made after the Insured has Knowledge that the vestee shown in Schedule A is no longer the owner of the estate or interest covered by this policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11. 7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching subsequent to Date of Policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11(b) or 25. 8. The failure of the residential structure, or any portion of it, to have been constructed before, on or after Date of Policy in accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6. 9. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction creating the lien of the Insured Mortgage, is (a) a fraudulent conveyance or fraudulent transfer, or (b) a preferential transfer for any reason not stated in Covered Risk 27(b) of this policy. 10. Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence. 11. Negligence by a person or an Entity exercising a right to extract or develop minerals, water, or any other substances. PA2021-271 Privacy Notice Effective: October 1, 2019 Notice Last Updated: January 1, 2021 This Privacy Notice describes how First American Financial Corporation and its subsidiaries and affiliates (together referred to as “First American,” “we,” “us,” or “our”) collect, use, store, and share your information. This Privacy Notice applies to information we receive from you offline only, as well as from third parties, when you interact with us and/or use and access our services and products (“Products”). For more information about our privacy practices, including our online practices, please visit https://www.firstam.com/privacy-policy/. The practices described in this Privacy Notice are subject to applicable laws in the places in which we operate. What Type Of Information Do We Collect About You? We collect a variety of categories of information about you. To learn more about the categories of information we collect, please visit https://www.firstam.com/privacy-policy/. How Do We Collect Your Information? We collect your information: (1) directly from you; (2) automatically when you interact with us; and (3) from third parties, including business parties and affiliates. How Do We Use Your Information? We may use your information in a variety of ways, including but not limited to providing the services you have requested, fulfilling your transactions, comply with relevant laws and our policies, and handling a claim. To learn more about how we may use your information, please visit https://www.firstam.com/privacy- policy/. How Do We Share Your Information? We do not sell your personal information. We only share your information, including to subsidiaries, affiliates, and to unaffiliated third parties: (1) with your consent; (2) in a business transfer; (3) to service providers; and (4) for legal process and protection. To learn more about how we share your information, please visit https://www.firstam.com/privacy-policy/. How Do We Store and Protect Your Information? The security of your information is important to us. That is why we take commercially reasonable steps to make sure your information is protected. We use our best efforts to maintain commercially reasonable technical, organizational, and physical safeguards, consistent with applicable law, to protect your information. How Long Do We Keep Your Information? We keep your information for as long as necessary in accordance with the purpose for which it was collected, our business needs, and our legal and regulatory obligations. Your Choices We provide you the ability to exercise certain controls and choices regarding our collection, use, storage, and sharing of your information. You can learn more about your choices by visiting https://www.firstam.com/privacy- policy/. International Jurisdictions: Our Products are offered in the United States of America (US), and are subject to US federal, state, and local law. If you are accessing the Products from another country, please be advised that you may be transferring your information to us in the US, and you consent to that transfer and use of your information in accordance with this Privacy Notice. You also agree to abide by the applicable laws of applicable US federal, state, and local laws concerning your use of the Products, and your agreements with us. We may change this Privacy Notice from time to time. Any and all changes to this Privacy Notice will be reflected on this page, and where appropriate provided in person or by another electronic method. YOUR CONTINUED USE, ACCESS, OR INTERACTION WITH OUR PRODUCTS OR YOUR CONTINUED COMMUNICATIONS WITH US AFTER THIS NOTICE HAS BEEN PROVIDED TO YOU WILL REPRESENT THAT YOU HAVE READ AND UNDERSTOOD THIS PRIVACY NOTICE. Contact Us dataprivacy@firstam.com or toll free at 1-866-718-0097. © 2020 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY20 (12-18-20) Page 1 of 2 Privacy Notice (2020 First American Financial Corporation) English First American Title™ PA2021-271 For California Residents If you are a California resident, you may have certain rights under California law, including but not limited to the California Consumer Privacy Act of 2018 (“CCPA”). All phrases used in this section shall have the same meaning as those phrases are used under California law, including the CCPA. Right to Know. You have a right to request that we disclose the following information to you: (1) the categories of personal information we have collected about or from you; (2) the categories of sources from which the personal information was collected; (3) the business or commercial purpose for such collection and/or disclosure; (4) the categories of third parties with whom we have shared your personal information; and (5) the specific pieces of your personal information we have collected. To submit a verified request for this information, go to our online privacy policy at www.firstam.com/privacy-policy to submit your request or call toll-free at 1-866-718-0097. You may also designate an authorized agent to submit a request on your behalf by going to our online privacy policy at www.firstam.com/privacy-policy to submit your request or by calling toll-free at 1-866-718-0097. Right of Deletion. You also have a right to request that we delete the personal information we have collected from and about you. This right is subject to certain exceptions available under the CCPA and other applicable law. To submit a verified request for deletion, go to our online privacy policy at www.firstam.com/privacy-policy to submit your request or call toll-free at 1-866-718-0097. You may also designate an authorized agent to submit a request on your behalf by going to our online privacy policy at www.firstam.com/privacy-policy to submit your request or by calling toll-free at 1-866-718- 0097. Verification Process. For either a request to know or delete, we will verify your identity before responding to your request. To verify your identity, we will generally match the identifying information provided in your request with the information we have on file about you. Depending on the sensitivity of the information requested, we may also utilize more stringent verification methods to verify your identity, including but not limited to requesting additional information from you and/or requiring you to sign a declaration under penalty of perjury. Notice of Sale. We do not sell California resident information, nor have we sold California resident information in the past 12 months. We have no actual knowledge of selling the information of minors under the age of 16. Right of Non-Discrimination. You have a right to exercise your rights under California law, including under the CCPA, without suffering discrimination. Accordingly, First American will not discriminate against you in any way if you choose to exercise your rights under the CCPA. Notice of Collection. To learn more about the categories of personal information we have collected about California residents over the last 12 months, please see “What Information Do We Collect About You” in https://www.firstam.com/privacy-policy. To learn about the sources from which we have collected that information, the business and commercial purpose for its collection, and the categories of third parties with whom we have shared that information, please see “How Do We Collect Your Information”, “How Do We Use Your Information”, and “How Do We Share Your Information” in https://www.firstam.com/privacy-policy. Notice of Sale. We have not sold the personal information of California residents in the past 12 months. Notice of Disclosure. To learn more about the categories of personal information we may have disclosed about California residents in the past 12 months, please see “How Do We Use Your Information” and “How Do We Share Your Information” in https://www.firstam.com/privacy-policy. © 2020 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE:FAF Form 10-PRIVACY20 (12-18-20) Page 2 of 2 Privacy Notice (2020 First American Financial Corporation) English First American Title™ PA2021-271 -1 ; I I ... ~--- :;~ .. .,."':-:,7 ,7 'r--' -.,..,, ,., 1' MA? ;oJ:F CORONA D EjL ~ ~~~,Y Y"JI 8Y SH,,.IN~~ c:;-~ J; ..... ,,., • I JRllfW~~~-■: ~-■, :·■~ .±Jill ~.1J ~Jj Jr~ -L , • ' • ~}!~'"t~~i~:•;,;~.i: ~~lli~t f=Ij ~t (ii-)-i '.lj 11=: 1= Ina:; 3'al• o/'C....,...,,;..- 1 ---~-~-; -~---• : _._ ~j -._ , • . • .:~:;:~.:(_:~~~: ~l~ ::~::· ~ ~ ~:~ ·: : . . -:p.: :::::"::Ut.":f11-• s ..... _, .. ,.,-. -~~ _.-l .• •-1~·1· _.__ ·■•-.:=•. 11111 ;!~:·:: .... ":;;..; ........ .;h.;..~: i:.1¥1r:·-: ~-L; ~,t; • • • , : : ······,•-,4:·•··-.t·~.:.r.-~: ..... -... , -1-:·:1: : ~r~--:-::-:;_ .-· f-+-It= . I 2~;;:::;::;:.:-~7_;·:::=: 'illd ~~ 4 'hJJ ' . :--· -c• : . :::w c..., INWIINe3s WHe .. eo,-Ill ..... ,-,.._.. ' ■-- . ~~.':'!t·~-!::'.:' -::::.9r:~ 41 :=!:.: t :~ 1:.....:.-.3 -= 1= :_ I..:· r:: ■-. t : 1~ Ei ym;_:~\::.;,"ifl~b • :-;-~ -;;--~c_ 1 :•~ , '--"-: M • M == ~~t1..:JJ-ILJJ t.T iJ jj~~ ~i~~ = _·; ~ · -· ·; ~f g Ji~s=Jr~~ i~7·-: r~. ·,;·· ltfulJ-l■~-) ~■; · 11. i■---~ -; "f ~~ • ' I . t--I:l'-.!. • ~-• • . ' • I " • '• • 0 ~.1:]~' ~ 1-.!. ••• "' -------~~~--1' ■\-•. -~: ■•' -•1:·f'~J.1,·1•• -fOOT,;-0#,.-,~/4,;.,_ ~o '" , 11 • -..c.j,I_ • ., •/Mw,rw,-1• ,,...,,.,A.#'_M.,~ (',I// ,,11,--,.,,, w, .... ••r~ #S ...-ff•,,,...,JW _ _..,_ e,N"-/1,,,..,._,.a • ¾-: . -: : • : . . . ' . . . . , .. , .. !-• • "'y"' :'';~~~~~~~-~-~-:, ....... ~,(!~I ••• ~j "'" BA"Y; ''.•~~~~"'I L ~•i,'. JV o"--r ---\\~ ~ .. , .... ~_;,;:::.:. . ~,2.,~1',sf tli\ ,' · .:: : -· '"'& ---==-,A¥W )'\ '<rmiAU\ ,, ~ r I .. 1 --, -.-, l f ~~~~--~-;,===~l.J-~,. -:ti[···. r_r:t:·~:· ··· -. 3-11 ! ."1., • , Ii ., ' ,!},. . •. -f ' ·,,, .• '. • . ..;..j .~· ' ,_ ~" C PA2021-271 ~ i ~ ' ~ ~ ~ ~ ~ >, > ~ \ L'--, ....... f'i CJ I ...... l f. D, ~ ,I) _.., ' j -, ~ -'/ ., I I PA2021-271 F ;;~_.:,'>~-:? 7 ·"'7"'-" • ~'i' /J 1' -~✓...~_,, -<.l"J ,,t fYJAIP :DJIF' C ORO NA D E L M .i-\.R 8 .,, Sl !FINL~......- C..:.,..,./,,.-J;...,..=Y""' l~~fp~{: ---I i.2-"fti~?:::J~:~· ~---.. JJj 1i il77l~~,,~~-,1~·:~~,, ~~1 > ~,1]'~P)'' i: rf~ f IJJ] ·rn, ~ r ~1 n-1r~ ~d -!~] JIJ lf :, S=iJ ~~ lf1J JI : :J~ lftJ _i_JJ W : ~J JJJ JJJI ', ',';,;{!,:;:::,;~::.t!::":;:_:,i; ~.::: '._{L} j ~~tu f. ~ 1 ~ I it]: cfl~ ~lci jBj :. u 1 -:. r j ,, 1 I ff]';_ 11 I Jj I tr' :. I, : 1 :. fl]'. ii:'i;:: ~~ ~d #-t¥1 $:~ ~~-*~ !r~ ti) f ~ J.! ltu iL !r_j )( ............ •c_ .. ; ••• ,,., •. -.~·-,·••~---~j .. •]· ;·1 ~ ,. j· •1-· 1·~ •1·,. 'SJ~-·.•·;·· 1·' . •f: ~ : J ·:J•J--. ~ J . , . I · 1, ,. f . I, ·]· \J·. ~ :::1¥[~~t· .,,»'e~ ,.,n //,, ,.,,......P '.:';;:~~7..;::1;:'.:t~•~ .. -.. ,. ......... ~:!~ f :.s ~: !'·:;_a~ ~1= ·,;~I ~ *~-: '.: ~ ~-1-1 ~r;> '.: ~ ;:.s ~ ~-:-·~,.~· ~ :.~~~ 1; ~ p~ ! ;J ~: l :.s·,·· !_j'.s __ :-~ .:.;i; ·, ~ 1a..,,. ... aa.+h,~.-,a.,<1eu .. ,011._..,......,..,....,.c 1ti._~ • ~ -• -,·,. • ~► • -•·~_,. '~,. ',:_.,. ' ~:;.sf--;~.·'..-~·• • -( ·• . :,. -r • { 'J{ .. ~ -• > ~:::~~!::;::;.i♦:h:.7~+"::~::::7.~~ '-~ _ : ' ~ ~--~ . ; ·~ -{ ; ~{ :-; -! 1 ~ 'jJ_ ~ t ~ ~ : ,~ ; _: ~_i__~ _; ~ ~ i ' ~ ~ /NWNNOs w;:;::,:::.:·~:;:::.~ 1.~ ~ft I. Il~ =if~ -fJru ~&-:::1 ITT~ a._·· ·; 1 :~ J :'l) I -re; :: " ... ~ I :li I J . I ~~f{;~= ~J JJJ JJ1 ililJ Jib iL ~ ld hlJ _hJJ JlJ _tJ i··iJ JJJJ J~J J~~EJ·: ( f ! I-~ 1t, p;;,· J~i J ~ 1-i t.~1 1Kl~fl=~-·;; ,~ J1~~~· U. i It U,; j~ ~,J:j ';(Jl r~JiLJi Jji_J.j \ CJ ~ "jJJJ J 'Q'!i' ~i; •~ JcC, '-',~;"-~. _·,] ~•j•:: 1 tl' ~-]·. ,, .. I n ,. ] .. . -: <-. , Rfi ~ m~ ~; @if]j; ·u."l{HI, Li i) !.JI 1.[:j jjH Gi!1 ~§ ~~ ~[;j ~ Jl~ jj JJJ : : k I : : : c_; L : : ~ '-.,. >~~~~~:~~-~==-=~~~t~~ ~ ~ ~ ~j ~ H]r) lj I -LI {! Lur,~ I ~qr ~:_Ii Ii~ Ii~ I ltli: [ ! · -~ / _,. "-~,. EE[t] lliillill ei ~~ j~ -~t-7,.1 . r -1 -trJ _jfj -· f_ JtJ -• , :: 1 ~' •A-, 1l ri, ·,. ~-~.--.,~~~I\ttnL_,-~~,·~i1~11r·;1~LJ~}T1 1 N E w ., 0 11'-'~-'~"s ~ . ;; illTi"F11Ilm ~ ·:,~ ·:;] [,,~:·: ~ .j '. -~ :: ' ~A--:?p•~1 ---------~ _,.,<-EW hr,./,,,/, __ ,.-.J-'-:,~,. •~ ~ b~ 'UIJY ;::fftj ' ; : 'f I ;;.:!l' 1~: · cc<_, '" -.a,,,~:c;;~')(:sk-~.~>t-,,.: ~:<i .. :u·.) .. "[ttt -_;_Jr~-1: t!1§J_:~<._l-_i-_1.~·-.::·~:# ;->f~:;--:>·---~:>:-~Z.:':/~ ,,);; ')\~ '~•-... ·-:,. :::-: ;.:1?,:+n .. :..-i v,..---;:,:.. ,,: fa. N . .,.f.1,, \ it, .,,I • A.,# ->-J:i.:~ ~Y~:i, -<;._.-, • 1V w.J'j//1 •(, :.i.tin~ •' · ·,,,-· . ...-.-~,;:::c,i(~'>•' l, ~ JW1 ~-~~-. ._ ·:_:_.--,/!r-:>, __ , ·\_.~]j' 0 t/JflJ \~ -----' ,_,__ -~"' ;--' ' ·, " . ~r/ ,-~~~~-----.~ -· 7:-:::;_~-~~~--/--1 .._ -L, -~ l l.&~-1.y .:•~••fy lho~ 11,.. ,, . .,t' -"• .. ...,._.~u .... r. S:: t--,. .__~'r ..... , !). .. f' ... ,~,,c-.... , .. "'---" ... c .. •,-s I P , A IC l . r, ,,.a;t'-7' /-·'!:'!· . / I . C , ........ :\'·,L '·t: ,;:-~7c.-...i·' PA2021-271 THIS MAP WAS PREPARED FOR ORANGE _J COUNTY ASSESSOR DEPT. PURPOSES ONLY. THE ASSESSOR MAKES NO GUARANTEE AS TO ITS ACCURACY NOR ASSUMES ANY LIABILITY FOR OTHER USES. NOT TO BE REPRODUCED. ALL RIGHTS RESERVED. © COPYRIGHT ORANGE COUNTY ASSESSOR 2021 ?l>-c \)i· \<,_\\, ~I 11 7 ~ <: ~ ""-( ~ ~ '.:; SECOND fp, 1,1, ~ PROJECT ~/.i~·~c~ PAR,2 r:::; 0,09AC,~ 364-9 - PROJW @0.13 ~©cok, - p-:1,1, PAR :'"1,1. FIRST 01 ~ BAYSIDE M.M. 3-42 0 63' ~ ~ ::s: ""-( ~ "'l: .._ \/) 5 ""-( -:E ~ (ELECTRIC 02 (54RD PL. J 1180 P,M, fis(RO-!_sfJ~: 'PAR, 1 \f:.:;) 352- G) ,f',1,1, '24'PR0~4;~~ PAR, 1 \f:_y 330 ® ·BLK G) 12 0 0 0 @,,,., • 11 I ~ 117,99' 21:! 1 - ~,,~ ®101.99• f'i 14' @11s· ~ (53RD PL. J .... ,"l,l.@PROJ,938-01-I ·@--_ B, t 22 53.1:~'1&; 7 13 ~ -2 , ,M, 93a PAR,2 5l PAR.I 1 0 59' ~ WAYJ 052-02 ~ ~ ~ ~ ~ 1 7 I I I I AVENUE ~ 486,487"' ),,., PAR--:, ~M62AC~ 329-JJO~ t-~I 6 ~ 11 , 328-21 ;:-20 9 • 1 Q :.i P,M, PROJ,1;:.-JJ9 "'® -7© ® PAR, 1~500,501 5l 0,081 ~ 2 ~ PAR,2 3:~;;: I " /.-~9.33' 14' 0, ~~!, AC, 328-25 DRIVE I I 052-08 ~ ~ '.:; ~ ~ ~ <5 (..'.) L I MARCH 1983 /os2-01 CORONA DEL MAR PARCEL MAP PARCEL MAP PARCEL MAP P.M. 167-41, 201-17, 201-19, 207-23, 207-29, 228-14, 240-44, 257-19, 277-36, 310-5, 314-25, P.M. 318-1, 328-25, 328-27, 330-10, 336-35, 345-1, 352-17, 353-16, 355-40, 361-13, 364-9, P.M. 365-49, 370-19, 375-17, 377-18, 395-33, 397-31, 398-47, 403-20, 404-30 r- 459-1 1 1 II= 100' NOTE - ASSESSOR'S BLOCK & PARCEL NUMBERS SHOWN IN CIRCLES ASSESSOR 1S MAP BOOK 459 PAGE 11 COUNTY OF ORANGE D PA2021-271 THIS MAP WAS PREPARED FOR ORANGE _J COUNTY ASSESSOR DEPT. PURPOSES ONLY. THE ASSESSOR MAKES NO GUARANTEE AS TO ITS ACCURACY NOR ASSUMES ANY LIABILITY FOR OTHER USES. NOT TO BE REPRODUCED. ALL RIGHTS RESERVED. © COPYRIGHT ORANGE COUNTY ASSESSOR 2021 ?l>-c \)i· \<,_\\, ~I 11 7 ~ <: ~ ""-( ~ ~ '.:; SECOND fp, 1,1, ~ PROJECT ~/.i~·~c~ PAR,2 r:::; 0,09AC,~ 364-9 - PROJW @0.13 ~©cok, - p-:1,1, PAR :'"1,1. FIRST 01 ~ BAYSIDE M.M. 3-42 0 63' ~ ~ ::s: ""-( ~ "'l: .._ \/) 5 ""-( -:E ~ (ELECTRIC 02 (54RD PL. J 1180 P,M, fis(RO-!_sfJ~: 'PAR, 1 \f:.:;) 352- G) ,f',1,1, '24'PR0~4;~~ PAR, 1 \f:_y 330 ® ·BLK G) 12 0 0 0 @,,,., • 11 I ~ 117,99' 21:! 1 - ~,,~ ®101.99• f'i 14' @118' ~ (53RD PL. J .... ,"l,l.@PROJ,938-01-I ·@--_ B, t 22 53.1:~'1&; 7 13 ~ -2 , ,M, 938 PAR,2 5l PAR.I 1 0 59' ~ WAYJ 052-02 ~ ~ ~ ~ ~ 1 7 I I I I 1180 0 2Q_ G) 18 118(;'\ 118,02'~ l_ !-"• fi'{.RIJ!.j//!397 PAR. t\f:.Y 314-25 ~ 118.03'{6) 12 AVENUE ~ 486,487"' ),,., PAR--:, ~M62AC~ 329-330~ t-~/ 6 ~ 11, 328-21 ;:-20 9 • 1 Q :.i P,M, PROJ,1;:.-JJ9 "'® -7© ® PAR, 1~500,501 5l 0,081 ~ 2 ~ PAR,2 3:~;;: I " /.-~9.33' 14' 0, ~~!, AC, 328-25 DRIVE I I 052-08 ~ ~ '.:; ~ ~ ~ <5 (..'.) L I MARCH 1983 /os2-01 CORONA DEL MAR PARCEL MAP PARCEL MAP PARCEL MAP P.M. 167-41, 201-17, 201-19, 207-23, 207-29, 228-14, 240-44, 257-19, 277-36, 310-5, 314-25, P.M. 318-1, 328-25, 328-27, 330-10, 336-35, 345-1, 352-17, 353-16, 355-40, 361-13, 364-9, P.M. 365-49, 370-19, 375-17, 377-18, 395-33, 397-31, 398-47, 403-20, 404-30 r- 459-1 1 1 II= 100' NOTE - ASSESSOR'S BLOCK & PARCEL NUMBERS SHOWN IN CIRCLES ASSESSOR 1S MAP BOOK 459 PAGE 11 COUNTY OF ORANGE D PA2021-271 ) ~i• &"l-J, e,r ~ 50 ~ Cj cs: "{ ~ ~ " 'I: " c:, ~ ~ i::: ~ Cl:: ~ so' ~ i5 ~ .__ 1ARED FOR ORANGE IIIPOSES ONL1 IWm!E AS TC IJA8IUTY FOR 'DI/CED, AU RIGI ,NGE COUNTY ASSESSOR 1992 1/7,"17' PARCEL MAP PAR.I 008/AC. 20/-/7 /17. ')7' PARCEL MAP PAR. I 0.08/AC. 201-19 l/7.94o ~ FIRST (53RDPL) 14 ,.. I "' --.J --.J 'a: I L AVENUE-~ ' PROJECT 938-0/ LOCATED ON A.P 459-//8-0/ 1"=~0' PA2021-271 Page 1 of 1 CORDOMINIUM INDEX, PARCEL MAP 251-18 PROJECT NO. 938-01 PARCEL MAP 251-18 NO. PARS 1 A.P. NO. 459-111-19 BILLING NO. LOCATED ON PAR UNIT NO. COMMON AREA 938-01-170 938-01-171 Par 1 II 1 2 Und. 1/2 Int in Par 1 II CONDOMINIUM INDEX, CORONA DBL MAR BLK. 431, LOTS 7 & 9 POR. 459//,o:2- Page 1 of 1 PROJECT NO. 938-01 CORONA DBL HAR NO, LOTS 2 A.P. NO. 459-111-20 BILLING NO. LOCATED ON LOT UNIT NO. COMMON AREA 938-01-297 938-01-298 Lots 7 & 9 por. 1 2 Und. 1/2 I~t in Lots 7 & por. 9 PA2021-271 CONDOMINIUM INDEX, CORONA DEL MAR Page 1 of 1 BLK. 431, LOTS 16 & POR. 18 PROJECT NO. 938-01 CORONA DEL MAR NO. LOTS 2 A.P. NO. 459-111-21 BILLING NO. LOCATED ON LOT UNIT NO. COMMON AREA 938-01-301 938-01-302 938-01-303 Lot 160 & por. 18 1 2 3 Und. 1/3 Int in Lots 16 & por 18 " PROJECT NO. 938-01 BILLING NO. 938-01-055 938-01-056 938-01-057 938-01-058 45'1!/,t>3 Page 1 of 1 CONDOMINIUM INDEX, PARCEL MAP 201-17 & 19 PARCEL MAP 201-17,19 NO. PARS 2 A.P.N0.459-111-22 LOCATED ON PAR UNIT NO. COMMON AREA Par 1, PM 210-19 1 Und. 1i4 Int in Par 1 P.M. 201-17 & 19 2 " Par 1, f,M 210-17 3 4 PA2021-271 CONDOMINUM INDEX, PARCEL MAP 207-23 PROJECT NO. 938-01 PARCEL MAP 207-23 NO. OF PARS. BILLING NO. 938-01-071 938-01-072 LOCATED ON PAR Par 1 UNIT NO. 2 Page 1 of 1 A. P. No. 459-112-22 COMMON AREA Und. 1 /2 Int in Par 1 PROJECT NO. 938-01 BILLING NO. 938-01-077 938-01-078 4'5''7'1/. 04 Pagel of l CONDOMINIUM INDEX, PARCEL KAP 207-29 PARCEL KAP 207-29 NO. PARS l A.P. NO. 459-112-23 COMMON AREA LOCATED ON PAR Par l UNIT NO. l 2 Und. 1/2 Int in Par l " PA2021-271 PROJBCT KO. 938-01 BILLING RO. 938-01-126 938-01-127 Page 1 of 1 CONDOMINIUM IKDBX, PARCEL MAP 228-14 PARCBL MAP 228-14 LOCATED OR PAR Par 1 KO. PARS 1 UNIT KO. A.P. KO. 459-113-22 COMMON AREA . " 1 2 Und. 1/2 Int in Par 1 " CONDOMINIUM INDEX, PARCEL MAP 330-10 PROJECT NO. 938-01 PARCEL MAP 330-10 NO.OF PARS. BILLING NO. 938-01-490 938-01-491 LOCATED ON PAR Par 1 UNIT NO. Page 1 of 1 -1-5'1!1. ()5 A P. No. 459-112-24 COMMON AREA Und. 1 /2 Int in Par 1 PA2021-271 PROJBCT HO. 930-10 BILLING HO. 930-10-414 930-10-415 Page 1 of 1 CONDOMINIUM IHDBX, PARCBL MAP 240-44 PARCEL MAP 240-44 LOCATED OH PAR Par 1 II NO. PARS 1 A.P. NO. 459-113-23 UNIT HO. COMMON ARIA 1 Und. 1/2 Int in Par 1 2 II CONDOMINIUM INDEX, PARCEL MAP 314-25 PROJECT NO. 938-01 PARCEL MAP 314-25 NO.OF PARS. BILLING NO. 938-01-396 938-01-397 LOCATED ON PAR Par1 UNIT NO. 2 Page 1 of 1 451/1,o~ A. P. No. 459-113-24 COMMON AREA Und. 1/2 Int in Par 1 PA2021-271 CONDOMINIUM INDEX, CORONA DEL MAR TRACT BLK 433, LOT'S 3 & 5 PROJECT NO. 938-01 CORONA DEL MAR TRACT NO. OF LOTS: 2 BILLING NO. 938-01-414 938-01-415 LOCATED ON LOT Lot's 3 & 5 UNIT NO. 1 2 Page 1 of 1 A. P. No. 459-113-25 COMMON AREA Und. 1/2 Int in Lot 3 & por of 5 PROJECT NO. 938-01 BILLING NO. 938-01-474 938-01-475 CONDOMINIUM INDEX, CORONA DEL MAR TRACT BLK 433, LOT 19 CORONA DEL MAR TR NO. OF LOTS: LOCATED ON BLK. UNIT NO. Lot 19 2 4!J'ill. Or A. P. No. 459-113-26 COMMON AREA Und. 1/2 Int in Lot 19 Page 1 of 1 PA2021-271 PROJECT NO. 938-01 BILLING NO. 938-01-021 938-01-022 Page 1 of 1 CONDOMINIUM INDEX, PARCEL MAP 167-41 PARCEL MAP 167-41 LOCATED ON PAR Par 1 NO. PARS 1 UNIT NO. A.P. NO. 459-114-19 COMMON AREA II 1 2 Und. 1/2 Int in Par 1 II CONDOMINIUM INDEX, PARCEL MAP 300-41 PROJECT NO. 938-01 PARCEL MAP 300-41 BILLING NO. LOCATED ON PAR 938-01-325 938-01-326 Par 1 NO. OF PARS. UNIT NO. 1 2 Page 1 of4 4S'91I, 08 A. P. No. 459-114-23 COMMON AREA Und. 1/2 Int in Par 1 PA2021-271 CONDOMINIUM INDEX, PARCEL MAP 318-01 PROJECT NO. 938-01 PARCEL MAP 318-01 NO.OF PARS. BILLING NO. 938-01-424 938-01-425 LOCATED ON PAR Par 1 UNITNO. 1 2 Page 1 of 1 A. P. No. 459-115-21 COMMON AREA Und. 1/2 Int in Par 1 CONDOMINIUM INDEX, PARCEL MAP 336-35 [ PROJECT NO. -938-01 PARCEL MAP 336-35 NO. OF PARS: BILLING NO. 938-01-520 938-01-521 LOCATED ON PAR. Par.1 UNIT NO. 1 2 --·-·- 45'?/l,/o 1 A. P. No. 459-115~] COMMON AREA Und. 1/2 Int in Par. 1 1 of 1 PA2021-271 PROJECT NO. 938-01 BILLING NO. 938-01-329 938-01-330 CONDOMINIUM INDEX, CORONA DEL MAR BLK 333, PORS LOTS 2,4,6 CORONA DEL MAR LOCATED ON LOT Lot2 NO.OF LOTS: UNIT NO. 1 2 -----~----- Page 1 of 1 A. P. No. 459-116-20 COMMON AREA Und ½ Int in Par Lots 2,4,6 PROJECT NO. 938-01 BILLING NO. 938-01-381 938-01-382 CONDOMINIUM INDEX, PARCEL MAP 310-05 PARCEL MAP 310-05 LOCATED ON PAR Par 1 NO.OF PARS. UNIT NO. 1 2 "'1'5'91/,I I Page 1 of 1 A. P. No. 459-116-21 COMMON AREA Und. 1 /2 Int in Par 1 PA2021-271 Page 1 of1 CONDOMINIUM CONDOMINIUM INDEX, CORONA DEL MAR TRACT INDEX, PARCEL MAP 328-27 BLK26, LOT 3 PROJECTNO. 938-01 CORONADELMARTRACT NO.OFLOTS: 1 AP.No. 459-116-22 BILLING NO. 938-01-426 938--01-427 LOCATED ON LOT Lot15 UNIT NO. 1 2 COMMON AREA Und. 1/2 Int in Lot 15 PROJECT NO. BILLING NO. 938-01-486 938-01-487 938-01-488 938--01-489 938-01 PARCEL MAP 328-27 NO.OF PARS. 2 LOCATED ON PAR UNIT NO. Par1 2 Par2 1 2 45''71/./2 Page 1 of1 A. P. No. 459-116-25 COMMON AREA Und. 1/2 Int in Par 1 Und. 1/2 Int in Par 2 PA2021-271 PROJECT NO. BILLING NO. 938-01-498 938-01-499 938-01-500 938-01-501 I CONDOMINIUM INDEX, PARCEL MAP 328-25 938-01 PARCEL MAP 328-25 NO.OF PARS. 2 LOCATED ON PAR UNIT NO. Par1 1 2 Par2 1 " 2 Page 1 of 1 A. P. No. 459-116-26 COMMON AREA Und. 112 Int in Par 1 Und. 112 Int in Par 2 45'9/I. I.J PA2021-271 + FIRST AMERICAN TITLE, INT, GSID 11/02/2021 08:52PM L TKI ORANGE 2021-22 TAX ROLL ORDER: 6720912 ENTERED APN: 459-113-09 Ii,, APN: 459-113-09 TRA: 07-001 -CITY OF NEWPORT BEACH ORDER SEARCH RESULTS TOF: JD PAYMENTS AS OF 10/29/2021 SEARCH PARAMETERS LEGAL: A TR CORONA DEL MAR BLK 433 LOT 6 SITUS: 424 FERNLEAF AVE NEWPORT BEACH CA MAIL: 7642 W IRVING PARK RD NORRIDGE, IL 60706 ASSESSED OWNER(S) BIRE II LLC 2021-22 TAXES STATUS DELINQUENT DATE INSTALLMENT PENALTY BALANCE DUE LAND IMPROVEMENTS TAXABLE 1STINST OPEN 12/10/2021 12,852.52 1,285.25 12,852.52 WARNINGS AND/OR COMMENTS ** NO BONDS OR PRIOR YEAR DELQ TAXES** ASSESSMENT DETAIL CODE# TYPE AMOUNT JURISDICTION A1 ALL PROP AV TAX 25,198.51 BASE TAX ORANGE,CA PAGE 1 OF 2 COMMENT: DOC#: 2020-708582 2021-22 ASSESSED VALUES I 2NDINST OPEN 04/11/2022 12,852.52 1,308.25 12,852.52 2,300,000 95,000 2,395,000 TOTAL TAXI 25,705.04 2,593.50 25,705.04 U4 OC SAN REGIONAL SEW 480.20 ORANGE CO SANITATION DIST (OLD OCS C7 MWD WATER STDBY CHG 11.60 METROPOLITAN WATER DIST BA MOSQ,FIRE ANT ASSMT 8.01 ORANGE COUNTY VECTOR CONTROL DISTR 83 VECTOR CONTROL CHG 6. 72 ORANGE COUNTY VECTOR CONTROL DISTR 25,705.04 TOTAL OF SPECIAL ASSESSMENTS ADDITIONAL PROPERTY INFORMATION COUNTY USE CODE: MLRSD STANDARD LAND USE: MUL Tl FAMILY DWELLING Ii,, APN: 459-113-09.0100 DATE: 05/20/2021 I TRA: 07-001 -CITY OF NEWPORT BEACH SITUS: 424 FERNLEAF AVE NEWPORT BEACH CA ** SUPPLEMENTAL BILL** ASSESSED OWNER(S) 2021-22 ASSESSED VALUES I BIRE II LLC LAND 0 PA2021-271 + FIRST AMERICAN TITLE, INT, GSID 11/02/2021 08:52PM LTKI ORANGE 2021-22 TAX ROLL ORDER: 6720912 2021-22 TAXES STATUS PAYMENT DATE DELINQUENT DATE INSTALLMENT PENALTY BALANCE DUE SUPPLEMENTAL ROLL YEAR 2020-2021 ORDER SEARCH RESULTS TOF: JD 1STINST PAID 06/24/2021 06/30/2021 2,912.14 291 .21 .00 WARNINGS AND/OR COMMENTS REASON: FOR OWNER CHANGE OR COMPLETED CONSTRUCTION CURRENT OPEN ORDERS TOF BA JD COMPANY FA FA ORDER 6667329 6720912 DATE 08/23/2021 11/02/2021 CONDIDONS, DISCLAIMERS AND EXCLUSIONS: 2NDINST 11/01/2021 2,912.13 314.21 3,226.34 ORANGE,CA PAGE 2 OF 2 COMMENT: TOTAL TAXI 5,824.27 605.42 3,226.34 This Tax Certificate/Tax Order Report does not constitute a report on or certification of: (1) mineral (productive and/or non-productive) taxes or leases; (2) personal property taxes; or (3) other non ad valorem taxes (such as paving liens, stand-by charges or maintenance assessments). Data Trace Information Services LLC ("Data Trace") may have warranted the accuracy of this Tax Certificate/Tax Order Report to its customer (the "Data Trace Customer'') pursuant to the terms and conditions of a written tax service agreement between Data Trace and said Data Trace Customer (the ''Tax Service Agreement"). Any such warranty (hereinafter, "Data Trace Customer Warranty") does not: (a) extend to a third party bearer of this Tax Certificate/Tax Order Report; (b) cover any changes made to the records of the taxing authority after the "payments as of," "paid," or "payment" dates delineated above; and (c) cover any invalid tax information shown on the records of the taxing authority or resulting from an error by the Data Trace Customer (including, without limitation, submission of incorrect property information by said Data Trace Customer). DATA TRACE MAKES NO WARRANTIES (EXPRESS OR IMPLIED) WITH RESPECT TO THIS TAX CERTIFICATE/TAX ORDER REPORT OTHER THAN (V\'HERE APPLICABLE) THE DATA TRACE CUSTOMER WARRANTY. Any and all claims under a Data Trace Customer Warranty must be submitted to Data Trace by the corresponding Data Trace Customer and are subject to the terms and conditions set forth in the pertinent Tax Service Agreement (including, without limitation, the filing deadlines applicable to such claims). In some jurisdictions Data Trace's validation of a Tax Certificate/Tax Order Report is required to activate a Data Trace Customer Warranty. END OF SEARCH PA2021-271 + FIRST AMERICAN TITLE, FSA, 1001 11/02/2021 01 :45PM F97D ORANGE 2021-22 TAX ROLL ORDER: 6720912 ENTERED APN: 459-113-09 I Ii APN: 459-113-09 ORDER SEARCH RESULTS TOF: JD PAYMENTS AS OF 10/29/2021 SEARCH PARAMETERS TRA: 07-001 -CITY OF NEWPORT BEACH LEGAL: A TR CORONA DEL MAR BLK 433 LOT 6 SITUS: 424 FERNLEAF AVE NEWPORT BEACH CA MAIL: 7642 W IRVING PARK RD NORRIDGE, IL 60706 ASSESSED OWNER(S) BIRE II LLC 2021-22 TAXES STATUS DELINQUENT DATE INSTALLMENT PENALTY BALANCE DUE LAND IMPROVEMENTS TAXABLE 1STINST OPEN 12/10/2021 12,852.52 1,285.25 12,852.52 WARNINGS AND/OR COMMENTS ** NO BONDS OR PRIOR YEAR DELQ TAXES** ASSESSMENT DETAIL CODE# TYPE AMOUNT JURISDICTION A1 ALL PROP AV TAX 25,198.51 BASE TAX Page 1 of 2 ORANGE, CA PAGE 1 OF 2 COMMENT: DOC#: 2020-708582 2021-22 ASSESSED VALUES! 2NDINST OPEN 04/11/2022 12,852.52 1,308.25 12,852.52 2,300,000 95,000 2,395,000 TOTAL TAXI 25,705.04 2,593.50 25,705.04 U4 OC SAN REGIONAL SEW C7 MWD WATER STDBY CHG 480.20 11.60 ORANGE CO SANITATION DIST (OLD OCS METROPOLITAN WATER DIST BA MOSQ,FIRE ANT ASSMT B3 VECTOR CONTROL CHG 8.01 6.72 ORANGE COUNTY VECTOR CONTROL DISTR ORANGE COUNTY VECTOR CONTROL DISTR 25,705.04 TOTAL OF SPECIAL ASSESSMENTS ADDITIONAL PROPERTY INFORMATION COUNTY USE CODE: MLRSD STANDARD LAND USE: MUL Tl FAMILY DWELLING [Ci APN: 459-113-09.0100 DATE: 05/20/20211 TRA: 07-001 -CITY OF NEWPORT BEACH SITUS: 424 FERNLEAF AVE NEWPORT BEACH CA ** SUPPLEMENTAL BILL** ASSESSED OWNER(S) 2021-22 ASSESSED VALUES! BIRE II LLC LAND 0 file:///C:/FS2000/CoolConnectWork/7403004F%20%2004.html 11/2/2021 PA2021-271 + FIRST AMERICAN TITLE, FSA, 1001 11/02/2021 01 :45PM F97D ORANGE 2021-22 TAX ROLL ORDER: 6720912 2021-22 TAXES STATUS PAYMENT DATE DELINQUENT DATE INSTALLMENT PENALTY BALANCE DUE ORDER SEARCH RESULTS TOF: JD 1STINST PAID 06/24/2021 06/30/2021 2,912.14 291.21 .00 WARNINGS AND/OR COMMENTS SUPPLEMENTAL ROLL YEAR 2020-2021 REASON: FOR OWNER CHANGE OR COMPLETED CONSTRUCTION CURRENT OPEN ORDERS TOF BA JD COMPANY FA FA ORDER 6667329 6720912 DATE 08/23/2021 11/02/2021 2NDINST 11/01/2021 2,912.13 314.21 3,226.34 CONDITIONS, DISCLAIMERS AND EXCLUSIONS: Page 2 of2 ORANGE, CA PAGE 2 OF 2 COMMENT: TOTAL TAXI 5,824.27 605.42 3,226.34 This Tax Certificate/Tax Order Report does not constitute a report on or certification of: (1) mineral (productive and/or non-productive) taxes or leases; (2) personal property taxes; or (3) other non ad valorem taxes (such as paving liens, stand-by charges or maintenance assessments). Data Trace Information Services LLC ("Data Trace") may have warranted the accuracy of this Tax Certificate/Tax Order Report to its customer (the "Data Trace Customer") pursuant to the terms and conditions of a written tax service agreement between Data Trace and said Data Trace Customer (the "Tax Service Agreement"). Any such warranty (hereinafter, "Data Trace Customer Warranty") does not: (a) extend to a third party bearer of this Tax Certificate/Tax Order Report; (b) cover any changes made to the records of the taxing authority after the "payments as of," "paid," or "payment" dates delineated above; and (c) cover any invalid tax information shown on the records of the taxing authority or resulting from an error by the Data Trace Customer (including, without limitation, submission of incorrect property information by said Data Trace Customer). DATA TRACE MAKES NO WARRANTIES (EXPRESS OR IMPLIED) WITH RESPECT TO THIS TAX CERTIFICATE/TAX ORDER REPORT OTHER THAN (WHERE APPLICABLE) THE DATA TRACE CUSTOMER WARRANTY. Any and all claims under a Data Trace Customer Warranty must be submitted to Data Trace by the corresponding Data Trace Customer and are subject to the terms and conditions set forth in the pertinent Tax Service Agreement (including, without limitation, the filing deadlines applicable to such claims). In some jurisdictions Data Trace's validation of a Tax Certificate/Tax Order Report is required to activate a Data Trace Customer Warranty. END OF SEARCH file:///C:/FS2000/CoolConnectWork/7403004F%20%2004.html 11/2/2021 PA2021-271 Description: Orange,CA Document - Year.DocID 2020.708582 Page: 1 of 2 Order: 6720912 Comment: RECOf~DE:D A.T THE ~<:EQUE-ST or~· ~HICP,GO l"fflE COlVii~!)Ai'JY RECORDING REQUESTED BY: AND WHEN RECORDED MAIL TO: AND MAIL TAX STATEMENT TO: OrderNo.: 58602011493 Recorded in Official Records, Orange County Hugh Nguyen, Clerk-Recorder I IIIII I I IIIIII Ill lllll lllll lllll lllll lllll lllll 111111111111111111111111 llll 1 O. 00 *$R0012306203$* 2020000708582 12:41 pm 12/03/20 93 RW14A G02 2 07 1317.251317.25 0.00 0.00 3.00 0.00 0.000.000.00 0.00 SPACE ABOVE THIS LINE FOR RECORDER'S USE GRANT DEED THE UNDERSIGNED GRANTOR(S) DECLARE(S) THAT DOCUMENTARY TRANSFER TAX IS $2,634.50 X computed on full value of property conveyed, or ___ computed on full value less liens or encumbrances remaining at the time of sale. ___ unincorporated area: _X_City of Newport Beach ( Corona Del Mar Area) FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, Troy M. Reyna and Pamela A. Reyna, husband and wife as community property with right of survivorship hereby GRANTS to Dire II, LLC, an Illinois limited liability company the following described real property in the City of Newport Beach ( Corona Del Mar Area ), County of Orange, State of California: Lot 6 of Block 433, Corona Del Mar Tract, in the City of Newport Beach ( Corona Del Mar Area ), County of Orange, State of California, as per map recorded in Book 3 Page(s) 41 And 42 of Miscellaneous Maps, in the Office of the County Recorder of Orange County, California. Also Known as: 424 Fernlcaf Avenue, Newport Beach ( Corona Del Mar Area), CA 92625 APN#: 459-113-09 GRANT DEED CONTINUED ON NEXT PAGE Mail Tax Statements to: SAME AS ABOVE or Address noted below PA2021-271 Description: Orange,CA Document - Year.DocID 2020.708582 Page: 2 of 2 Order: 6720912 Comment: Order No.: 58602011493 • ~ APN: 459-113-09 CONTINUATION OF GRANT DEED Property Address: 424 Fernleaf Avenue, Newport Beach ( Corona Del Mar Area), CA 92625 Dated October 1, 2020 ~ Troy M. Reyna \ --=-== A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached and not the truthfulness accurac or validi of that document. STATE OF CAL FORNIA COUNTY OF ,e }s.s. On 0 Nota Public, personal y appeared --+-1WL1L--~..L..!........1:""--¥,-LJ4"'-,__--UL1µ.sa--1--111rP.14'-i-'1k-....LJ-..p,;~e.L..LJ"'-=----------- who proved to me on the basis o satisfactory e idence to be the person(s) whose name(s is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their 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 und r the laws of the State of California that the foregoing paragraph is true and correct. WITNESS (Seal) 1············ ... • JENNIFER It HUCiHES f -; N11tiry ~ubllc • California i Or1111e County j Commission 112320151 - " .. ,~ My C1mm. Expires Jan 30, 2024 PA2021-271 l~ECOFDFD /J."!i" 'lP-:1r:· •1:·;Jw:r·;i JH::~y of:..· ... n, -• .:l ..1 U aJ._.., ,,,.,,.,,~~·<,~•h•"'·tJ iJ • ~ ·;t-HCP,GO l"!TlE CCild\iJ;.::t'.PSJY RECORDING REQUESTED BY: AND WHEN RECORDED MAIL TO: AND MAIL TAX STATEMENT TO: OrderNo.: 58602011493 ·· Recorded in Official Records, Orange County Hugh Nguyen, Clerk-Recorder II 11 1111111111 1111111111 111 o. oo * $ R O O 1 2 3 0 6 2 0 3 $ * 2020000708582 12:41 pm 12/03/20 93 RW14A G02 2 07 1317.251317.25 0.00 0.00 3.00 0.00 0.000.000.00 0.00 SPACE ABOVE THIS LINE FOR RECORDER'S USE GRANT DEED THE UNDERSIGNED GRANTOR(S) DECLARE(S) THAT DOCUMENTARY TRANSFER TAX JS $2,634.50 X computed on full value of property conveyed, or ___ computed on full value less liens or encumbrances remaining at the time of sale. ---unincorporated area: X City of Newport Beach ( Corona Del Mar Area) FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, Troy M. Reyna and Pamela A. Reyna, husband and wife as community property with right of survivorship hereby GRANTS to Bire II, LLC, an Illinois limited liability company the following described real property in the City of Newport Beach ( Corona Del Mar Area ), County of Orange, State of California: Lot 6 of Block 433, Corona Del Mar Tract, in the City of Newport Beach ( Corona Del Mar Area), County of Orange, State of California, as per map recorded in Book 3 Page(s) 41 And 42 of Miscellaneous Maps, in the Office of the County Recorder of Oninge County, California. Also Known as: 424 Fernlcaf Avenue, Newport Beach ( Corona Del Mar Area), CA 92625 APN#: 459-113-09 GRANT DEED CONTINUED ON NEXT PAGE Mail Tax Statements to: SAME AS ABOVE or Address noted below PA2021-271 Oeder No., 58602011493 • ~ APN: 459-113-09 CONTINUATION OF GRANT DEED Property Address: 424 Fernleaf Avenue, Newport Beach ( Corona Del Mar Area), CA 92625 Dated October 1, 2020 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. STATE OF CAL FORNIA COUNTY OF }s.s. On Nata Public personal y appeared ---+-.J-1£-.:tL-_J_.!...L.~~-3/<-~L,!l,<..---'r.a...i:ULL-~b--J.l.LW~-1...~___p~/!LJUL::..._ _________ _ who proved to me on the basis o satisfactory e idence to be the person(s) whose name(s is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their 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 PENAL TY OF PERJURY und r the laws of the State of California that the foregoing paragraph is true and correct. WITNESS (Seal) JENNIFEll 11. HUCiHES Notiry l'ublic • California Or1n1e County Commission 112320151 My C1mm. Expires Jan 30, 2024 PA2021-271 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: California Coastal Commission 45 Fremont Street, Suite 2000 San Francisco, CA 94105-2219 STATE OF CALIFORNIA OFFICIAL BUSINESS: Document Entitled to free recordation pursuant To Government Code section 6103 Recorded in Official Records, County of Orange Gary Granville, Clerk-Recorder 1111111111111111111111111111111111111 lllll 1111111111111118.00 20010506554 11: 16am 07/26/01 115 67 ROB 2 0.00 0.00 0.00 0.00 2.00 0.00 0.00 0.00 CERTIFICATE OF ACCEPTANCE This is to certify that Laguna Greenbelt, Inc., a nonprofit corporation, hereby accepts the Irrevocable Offer and Dedication of Open Space Easement executed by Louis A. Gottschalk on July 31, 1980, and recorded August 1, 1980, as Instrument No. 1444 Book 13686 Page 1869 in the Official Records of the Office of the Recorder of Orange County. STATE OF CALIFORNIA COUNTY OF ORANGE LAGUNA GREENBELT, INC. By: ~!A£~ h-·~ Elisabeth M. Brown Its: President on .?'517, 'h/ vj..fr> I , before me, ANIL R SANADE , a Notary Public, personally appeared Elisabeth M. Brown, pusonal15 llilQP'OI \Q aie (0r proved to me on the basis of satisfactory evidence) to be the person~ whose name(«) is/-.subscribed to within the instrument and acknowledged to me that lie/she/t'!,ey,executed the same in wher/ti...i, authorized capacity(-ie!I'), and that by ~/her~ signatures(,s) on the instrument the person(..,. or the entity upon behalf of which the perso~ acted, executed the instrument. WITNESS my hand and official seal. Signature~ ANIL R. SANADE t COMM ... 1255747 o llOTARY P-1:PLK:-CALIFORNIA -l ORANGE COUNTY W My Term Exp. March 17, 2004 Page 1 of2 PA2021-271 ACKNOWLEDGMENT BY CALIFORNIA COAST AL COMMISSION This is to certify that Laguna Greenbelt, Inc. is a nonprofit corporation acceptable to the Executive Director of the California Coastal Commission to by Grantee under the Irrevocable Offer and Dedication of Open Space Easement executed by Louis A. Gottschalk on July 31, 1980, and recorded in the office of the Recorder of Orange County. Dated: STATE OF CALIFORNIA COUNTY OF SAN FRANCISCO CALIFORNIA COASTAL COMMISSION On 7 /2 "3 / 0 I before me, Deborah L. Bove , a Notary Public, ----~-~------------------ personally appeared ___ J_o_h_n_B_o_w_e_r_s __________ ., personally known to me ( or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to within the instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signatures(s) on the instrument the person(s, or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. Signature LP~ cl ,L) ¼- )006 ♦,0½rOOOOO:O"( @ DEBORAH L. BOVE : .. -COMM. #1239052 ,: 8 NOTARY PUBLIC-CALIFORNIA b a.. SAN FRANCISCO COUNTY - ) 0 '-' u O ': '1Zmz· ~pi:s e:1.11 :~3 { Page 2 of2 PA2021-271 Recorded in Official Records, Orange County Hugh Nguyen, Clerk-Recorder II 11 1111111111 1111111111 II 82.00 * $ R O O 1 2 3 0 6 2 0 4 $ * PLEASE COMPLETE THIS INFORMATION RECORDING REQUESTED BY: 2020000708583 12:41 pm 12/03/20 93 RW14A D11 25 CHICAGO TITLE COMPANY 0.00 0.00 0.00 0.00 72.00 0.00 0.000.000.00 3.00 AND WHEN RECORDED MAIL TO: Premier America Credit Union 19867 Prairie Street Chatsworth, CA 91311 DEED OF TRUST (Please fill in document title( s) on this line) The document to which this page is affixed and made a part of is exempt from the fee imposed by the Building Homes & Jobs Act (SB 2-2017) (GC 27388.1) Reason for exemption: D Not related to real property -GC 27388.1 (a) (1) I ✓ I Recorded concurrently "in connection with" a transfer subject to the imposition of Documentary Transfer Tax -GC 27388.1 (a) (2) D Transfer of real property that is a residential dwelling to an owner-occupier or recorded concurrently "in connection with" a transfer of real property that is a residential dwelling to an owner-occupier -GC 27388.1 (a) (2) D Maximum $225.00 fee per transaction reached (presented concurrently and are related to the same parties and same property) -GC 27388.1 (a) (1) THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION (Additional recording fee applies) CCR REC 31 Rev. 1/1/2018 PA2021-271 RECCiRDl:::D AT THE ~~Et1UEST OF ':H!C1,'\GO TITLE COfulP.~NY Recording Requested By: Premier America Credit Union After Recording Return To: Premier America Credit Union 19867 Prairie Street Chatsworth, CA 91311 800-772-4000 Parcel Number: 459-113-09 I [Space Above This Line For Recording Data] DEED OF TRUST Loan #: 5022502909 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 November 25, 2020, together with all Riders to this document. (B) uaorrower" is Bire II, LLC, an Illinois limited liability company. Borrower's address is 2204 Martin Lane,.Northfield, IL 60093. Borrower is the truster 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 November 25, 2020. The Note states that Borrower owes Lender ONE MILLION SIX HUNDRED SEVENTY SIX THOUSAND FIVE HUNDRED AND N0/100 Dollars (U.S. $1,676,500.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than December 01, 2035. (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 following Riders are to be executed by Borrower [check box as applicable]: *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 3005 1/01 (pagr, 1 of 14 pages) PA2021-271 [X] Adjustable Rate Rider [ ] Condominium Rider [ ] Second Home Rider [X] Balloon Rider [ ] Planned Unit Development Rider [ ] VA Rider [X] 1-4 Family Rider [ ] Biweekly Payment Rider [ ] Other(s)[specify] (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) ,iElectronlc 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 financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, 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) i'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: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or 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 (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (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, "RESPA" 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. Reference to RESPA in this document or any other document related to the Loan shall not create any presumption that the Loan is subject to 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. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) 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 Orange: LOT 6, OF BLOCK NO. 433, CORONA DEL MAR TRACT, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 3 PAGES 41 AND 42 OF MISCELLANEOUS MAPS IN THE OFFICE OF THE RECORDER OF SAID COUNTY. Parcel Number: 459-113-09 *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 3006 1 /01 (page 2 of 14 pages) . . . .... ··-·--·--····················· ··--··--·-···· ······---· .. PA2021-271 which currently has the address of 424 Fernleaf Avenue, Newport Beach, California 92625 ("Property Address"): -$EE EXHIBIT'A~ 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 ls 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. 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; (b) money order; (c) 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 (d) 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 insufficient 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 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: {a) interest due under the Note; (b) principal due under the Note; (c) 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 first 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 *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Documenl Center @ 3004 09/14 . . . ' . *MCMORTDOT* Form 3005 1 /01 (page 3 of 14 pages) PA2021-271 sufficient 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: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) 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 promptly 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 all 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 (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RES PA. 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 defined under RESPA, Lender shall account to *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 3005 1/01 (page 4 of 14 pages) PA2021-271 Borrower for the excess funds in accordance with RESPA. If there is a shortage 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 shortage in accordance with RESPA, but in no more than 12 monthly 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 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, 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 promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good 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 (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice i.s 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 verification and/or 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 fire, 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) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and s.ubsequent 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 flood 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 significantly 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 *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 3006 1/01 (page 5 of 14 pages) PA2021-271 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 promptly 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 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. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, 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 promptly. 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 file, 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 (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) 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. 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 promptly repair the Property if 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 *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgege Cadenc,e Document Center © 3004 09114 *MCMORTDOT* Form 30D5 1/01 (page 6 of 14 pages) PA2021-271 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, any guarantor of the Loan, 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 (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) 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 (c) 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 Secudty Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or 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. lf 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 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 due 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 *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 3005 1/01 (page 7 of 14 pages) PA2021-271 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 loss 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 provideq 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 insurer$ 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 affiliate 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: (a) 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. (b) 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, and/or 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 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 promptly. 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 *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 3005 1/01 (page 8 of 14 pages) PA2021-271 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: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) 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 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"): (a) 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; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) 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 1 B, any Successor in Interest of Borrower who assumes *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac: UNIFORM INSTRUMENT Mortgage Cadence Document Center @ 3004 09/14 *MCMORTDOT* Form 3005 1101 (page 9 of 14 pages) PA2021-271 Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits 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 finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b} any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (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 wHI 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 first 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 promptly 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 first 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 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 conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) 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. *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Cen!er © 3004 09/14 ... · .. *MCMORTDOT* Form 3005 1/01 (page 1 O of 14 pages) .. ··-::. .. _-. - PA2021-271 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 beneficial 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 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. 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: (a) 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 (c) entry of a judgment enforcing this Security Instrument Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' 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 (d) 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: (a) cash; (b) money order; (c) 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 (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial 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 Servicer") 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 and the address to which payments should be made. 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. Borrower may not commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from Lender's actions pursuant to this Security Instrument or that alleges that Lender has breached any provision of, or any duty owed by reason of, this Security Instrument, until Borrower has notified Lender (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded Lender a reasonable period after the *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 30D6 1/01 (page 11 of 14 pages) PA2021-271 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. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an '1Environmental 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 (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or• (c) 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 promptly give Lender written notice of (a) 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, (b) any Environmental Condition, including but not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) 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 notified 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 promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. ADDITIONAL COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. If any default is not cured within any applicable cure period, 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 *50225029·09* CALIFORNIA--Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3004 09/14 *MCMORTDOT* Form 3005 1101 (page 12 of 14 pages) . . ... -------·---·--··----••..---•·. . . . . .... ··-----···················---··------... -. ····· .................. ., ..... . . · .... ----··-,, •'• : PA2021-271 covenant or warranty, expressed or implied. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, Including, but not limited to, reasonable Trustee's and attorneys' feesj (b) to all sums secured by this Security Instrument; and (c) 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 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 the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. BORROWER BIRE II, LLC, an Illinois Limited Liability Company By: s,s1no-DeCarri r Managemen\ Company, LLC, its Manager By ~ -t\. Q.. -Gvf/40t_ Carmen Solano-DeCarrier, Managing Member *5022502909* CALIFORNIA-Single Family-Fannie MaelFreddle Mac UNIFORM INSTRUMENT Mortgage Cadence Documenl Center © 3004 09/14 *MCMORTDOT* Form 3005 1/01 (page 13 of 14 pages) PA2021-271 A notary public or other officer complelitlg thi$ certificate verffies only the identity of the individual who signeQ the document to which this certificate is attached, and not tile truthfulness, accuracy, or validity of that documenl ~ State of C~ia L,,f_,U,f µu.,,v County of Q!slRge d,e,tlC On N~er l , 2020, before me, ~1-18-e,t/-/d~c!Y'-· a Notary Public, personally appeared Carmen Solano-DeCarrier, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature on the instrument the person or the entity upon behalf of which the person acted executed the instrument. ) _ 4.,J,//4i1-v'-' v,,-, I certify under PENAL TY OF PERJURY under the laws of the State of C~ that the foregoing paragraph is true and correct. ,~ __ ;i~) WITNESS my hand and official seal. ----"'-'11=~=-:....,..1~/&u~_ ... _j~;.........a...~ ___ (Seal) Signature I - LETHA BELL JACKSON Official Seal Notary Public -State of Illinois My Commission Expires Sep 24, 2022 NOTARY MUST PRINT OR TYPE This must be printed or typed in a manner that is photographically reproducible (GC27201.5) Name of the notary: _ ___.l..,...,...;::,e,;..o.~..a.=.·.a;;..·_.6_•. =et.=1_-.... t-4=.IIL=·=/4 ...... · -~=-c.?'--_________ _ County of notary's principal place of bu~ness: _ _;:::(!ol;'--_/_'A.-____________ _ Notary's phone number: (fa 20 )CJ a 7-/ / ~ & Notary's registration number:-------,,------------------ Commission expiration date: ---=-~..;;;,.::;'"'"~~-•...e.:--=-,--_;;tl~~,;,.1__,,_ac.,:__c.c..~____;;;;,a-________ _ Origination Company: Premier America Credit Union NMLSR ID: 1277691 Originator: Deneen Jambor NMLSR ID: 709970 *5022502909* CALIFORNIA-Single Family-Fannie Mae/Freddie Mac: UNIFORM INSTRUMENT Mortgage Cadence 0CC11menl Center © 3004 09/14 *MCMORTDOT* Form 3005 1101 (page 14 of 14 pages) .. ,• PA2021-271 For APN/Parcel ID(s): 459-113-09 EXHIBIT "A" Legal Description THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA AND IS DESCRIBED AS FOLLOWS: LOT 6, OF BLOCK NO. 433, CORONA DEL MAR TRACT, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 3 PAGES 41 AND 42 OF MISCELLANEOUS MAPS IN THE OFFICE OF THE RECORDER OF SAID COUNTY. PA2021-271 Loan #: 5022502909 ADJUSTABLE RATE RIDER (1 Year Treasury Rate Index-Rate Caps) \ THIS ADJUSTABLE RATE RIDER is made this 25th day of November1 2020, 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 Fixed/Adjustable 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: 424 Fern leaf Avenue, Newport Beach, CA 92625 [Property Address] THE NOTE PROVIDES FOR A CHANGE IN BORROWER'S FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE. THE NOTE LIMITS THE AMOUNT BORROWER'S 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 an~ Lender further covenant and agree as follows: A. ADJUST ABLE RA TE AND MONTHLY PAYMENT CHANGES The Note provides for an initial fixed interest rate of 3.750%. The Note also provides for a change in the initial fixed rate to an adjustable interest rate, as follows: 4. ADJUSTABLE INTEREST RATE AND MONTHLY 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 December, 2023, and the adjustable interest rate I will pay may change on that day every Twelfth (12th) month thereafter. The date on which my initial fixed interest rate changes to an adjustable interest rate, and each date on which my adjustable interest rate could change, is called a "Change Date." (B) The Index *5022502909* MUL Tl STATE ARM RIDER 1 Year Treasury Rate Mortgage Cadence Document Center © PA125B9 07/2016 *MCARMR* (Page 1 of 4) ·. ·. PA2021-271 Beginning with the first 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 Board of Governors of the Federal Reserve System. The most recent Index figure 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 250/1000 percentage points {3.250%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) 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 monthly 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 monthly 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 5.750% 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 N0/1 DO percentage points (2%) from the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 9.750%. (E) Effective Date of Changes My new interest rate will become effective on each Change-Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my initial fixed 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 monthly 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 beneficial 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 *5022502909* MULTISTATE ARM RIDER 1 Year Treasury Rate Mortgage Cadence Document Center © PA12589 07/2016 . -... -------------......... ··-··--····----.. -... --.---·-·-------·-·-.. ·· ·····-. . . . . : .. :_; . . . . *MCARMR* (Page 2 of 4) PA2021-271 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 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 fixed 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 81 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 1 B, "Interest in the Property" means any legal or beneficial 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 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: (a) 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 (b) 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. *5022502909* MULTISTATE ARM RIDER 1 Year Treasury Rate Mortgage Cadence Document Center © PA12589 07/2016 *MCARMR* (Page3 of4) ---·-----.. --. PA2021-271 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Fixed/Adjustable Rate Rider. BORROWER BIRE II, LLC, an Illinois Limited Liability Company By: ano-DeCarr·er Management Company, LLC, its Manager By ..u . --Ae Carmen Solano-DeCarrier, Managing Member Origination Company: Premier America Credit Union NMLSR ID: 1277691 Originator: Deneen Jambor NMLSR ID: 709970 *5022502909* MULTISTATE ARM RIDER 1 Year Treasury Rate Mortgage Cadence Document Center © PA12589 07/2016 *MCARMR* (Page4 of 4) PA2021-271 Loan #: 5022502909 BALLOON RIDER (CONDITIONAL RIGHT TO REFINANCE) THIS BALLOON RIDER is made this 25th day of November, 2020, 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: 424 Fernleaf Avenue, Newport Beach, CA 92625 [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 December 01, 2050, 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 refinance 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 TO OPTION If I want to exercise the Conditional Refinancing Option at maturity, certain conditions must be met as of the Maturity Date. These conditions are: (a) I must still be the owner of the property subject to the Security Instrument {the "Property"); (b) I must be current in my monthly payments and cannot have been more than 30 days late on any of the 12 scheduled monthly payments immediately preceding the Maturity Date; (c) the New Note Rate cannot be more than five percentage points above the Note Rate; and (d) 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 (0.5%), rounded to the nearest one-eighth of one percentage point (0.125%) (the "New Note Rate"). The required net yield shall be the applicable net yield in effect on the date and time of day *5022502909* Mortgage Cadence Document Center © 26872 - 09/16 *MCBLNRDR* Page 1 of 2 PA2021-271 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 monthly payment that will be sufficient to repay in full (a) the unpaid principal, plus (b) accrued but unpaid interest, plus (c) all other sums I will owe under the Note and Security Instrument on the Maturity Date (assuming my monthly payments then are current, as required under Section 2 above), over the term of the New Note at the New Note Rate in equal monthly 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 l 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 fixed New Note Rate based upon Fannie Mae's applicable published required net yield in effect on the date and time of day notification 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 monthly payment amount, and a date, time, and place at which I must appear to sign any documents required to complete the required refinancing. I understand the Note Holder will charge me a $250 processing fee and the costs associated with updating the title insurance policy, if any. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Balloon Rider. BORROWER SIRE 11, LLC, an Illinois Limited Liability Company Origination Company: Premier America Credit Union NMLSR ID: 1277691 Originator: Deneen Jambor NMLSR ID: 709970 *5022502909* Mortgage Cadence Document Center © 26872 • 09/16 Page 2 of2 [Sign Original Only] *MCBLNRDR* PA2021-271 1-4 FAMILY RIDER (Assignment of Rents) Loan #: 5022502909 THIS 1-4 FAMILY RIDER is made this 25th day of November, 2020, 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: 424 Fernleaf Avenue, Newport Beach, CA 92625 [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, fire 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, shall 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 PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change in the use of the Property or its zoning classification, 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, Borrowi:ir shall not *5022502909* MULTISTATE 1-4 FAMILY RIDER-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3206 01/14 *MCFAMRDR* Form 3170 1/01 (page 1 of 3 pages) PA2021-271 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. "BORROWER'S RIGHT TO REINSTATE" DELETED. Section 19 is deleted. F. BORROWER'S OCCUPANCY. Unless Lender and Borrower otherwise agree in writing, Section 6 concerning Borrower's occupancy of the Property is deleted. G. ASSIGNMENT OF LEASES. As additional security for the Loan, Borrower assigns to Lender all present and future leases of the Property and all security deposits made in connection with leases of the Property. 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 OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION. As additional security for the Loan, Borrower 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 (i) Lender has given Borrower notice of default and (ii) Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agent. If Lender gives notice of default to Borrower: (i) all Rents received by Borrower shall be held by Borrower as trustee for the benefit 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; {iii) 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 first 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; {v} 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. Lender shall not be deemed to be a mortgagee-in-possession as a result of its exercise of its rights under this provision. 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 *5022502909* MUL TISTATE 1-4 FAMILY RIDER--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Mortgage Cadence Document Center © 3206 01/14 *MCFAMRDR* Form 3170 1101 (page 2 of 3 pages) ' ;- ' PA2021-271 Borrower. However, Lender, or Lender's agents or a judicially appointed receiver, may do so at · 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 may invoke any of the remedies permitted by the Security Instrument. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this 1-4 Family Rider. BORROWER SIRE II, LLC, an Illinois Limited Liability Company Origination Company: Premier America Credit Union NMLSR ID: 1277691 Originator: Deneen Jambor NMLSR ID: 709970 *5022502909* MULTISTATE 1-4 FAMILY RIDER-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Morlgage Cadence Document Center ©· 3206 01/14 *MCFAMRbR* Form 3170 1 /01 (page 3 of 3 pages) PA2021-271