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HomeMy WebLinkAboutURA RES 2018-40RESOLUTION NO. 2018- L A RESOLUTION OF THE CALDWELL URBAN RENEWAL AGENCY AUTHORIZING THE ACCEPTANCE OF THE DEED OF RECONVEYANCE REGARDING PROPERTY KNOWN AS 613 NORTH KIMBALL AVENUE. BE IT HEREBY RESOLVED by the Caldwell Urban Renewal Agency authorizes the acceptance of the Deed of Reconveyance made part hereof and set forth in full. PASSED BY THE CALDWELL URBAN RENEWAL AGENCY this 12th day of November, 2018. APPROVED BY THE CHAIRMAN OF THE URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL on this 12th day of November, 2018. ATTEST: �j SECRETARY PP • RECORDING REQUESTED BY Pioneer Lender Trustee Services AND WHEN RECORDED MAIL TO: Pioneer Lender Trustee Services 8151 W. Rifleman St. Boise, ID 83704 Ref: 200146353 DEED OF RECONVEYANCE 2018-047716 RECORDED 10/23/2018 01:42 PM CHRIS YAMAMOTO CANYON COUNTY RECORDER Pgs=1 DLSTEPHENS $15.00 TYPE: SAT MTG PIONEER TITLE CANYON - CALDWELL ELECTRONICALLY RECORDED SPACE ABOVE THIS LINE FOR RECORDERS USE WHEREAS, Pioneer Title Company, is the present Trustee of record under the following described Deed of Trust: Trustor: Lorna I. Sidwell, a widow Beneficiary: Caldwell East Urban Renewal Agency Dated: 11/02/01, Recorded: 11/06/01, Book/ReeVLiber: N/A, Page/Folio: N/A as Instrument No.: 200146353 in the County of Canyon, State of Idaho Property Address: 613 N. Kimball Avenue, Caldwell, Idaho 83605 AND WHEREAS, the above said Deed of Trust has been paid in full; NOW THEREFORE, the present "Trustee having received from the present owner of the beneficial interest under said Deed of Trust and the obligations secured thereby a written request to reconvey by reason of the obligations secured by said Deed of Trust, DOES HEREBY RECONVEY, without warranty, to the person or persons legally entitled thereto, the estate, title and interest now held by it under said Deed of Trust and the describing the land therein as more fully described in said Deed of Trust Pioneer Title Company of Ada County dba Pioneer Lender Trustee Services, as its Authorized Agent On 10/23/1' 8� By: Cathy Lucl9nbill, Trust Officer State of Idaho 'I ss. County of Ada } On 10123/18 before me, L the undersigned, a Notary Public in and for Ada County in the State of Idaho, personally appeared Cathy Luckinbill, 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 the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity, and that by his/her/their signature on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed this instrument. WITNESS my hand and official seal. Signature Notary Commission Expires: Resides at: Boise, ID K. BOSTIC COMMISSION #20170283 (Seal) NOTARY PUBLIC ti STATE OF IDAHO U 1Z.A D-UG�-191 File No. 663297 REQUEST FOR FULL RECONVEYANCE To: Pioneer Title Company of Canyon County 610 S Kimball Avenue Caldwell, ID 83605 The undersigned is the legal owner and holder of all. indebtedness secured by that certain Deed of Trust Executed By: Lorna 1. Sidrvell, a widow Trustee: Pioneer Title Company Beneficiary: Caldwell East Urban Renewal Agency Recorded: November 6, 2001 Instrument No.: 200146353 of the records of mortgages for Canyon County, Idalio, given to secure the payment of promissory Note for the sum of $4,931.00 and interest, which Note is paid in full and attached hereto. You are hereby requested and directed to cancel all evidence of indebtedness secured by said Deed of 'frust, and to reconvey, without warranty, the estate now held by you under the same. Date: October 10, 2018 Beneficiary: Cald, Il E, , t Urban Rene -vW Agency By: It's: r rook State of Idaho, County of Canyon This record was acknowledged before nre on Z ry as ofU Signature of notary public Commission Expires: 2_' :2- -.7-10 2. DEBRA K. GEYER 3 NOTARY PUBLIC STATE OF IDAHO MIMMISSION NUMBE 4606? Caldwell East Urban Renewal Agency 621 Cleveland Blvd. Caldwell, Idaho 83605 PROMISSORYNOTE 1. BORROWER'S PROMISE TO PAY FOR VALUE RECEIVED, the undersigned, hereinafter collectively known as Borrower, jointly and severally, promise to pay to the Caldwell East Urban Renewal Agency (or "Lender" or "Note Holder") the principal sum of FOUR THOUSAND NINE HUNDRED THIRTY ONE DOLLARS ($4,931.00). The interest rate on this stated amount is 0% percent. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note will be called the "Note Holder". 2. REPAYMENT SCHEDULE Full payment of the ($4,931.00) is required to be paid to the Caldwell East Urban Renewal Agency upon the earlier of a) the point in time that Borrower shall vacate, rent, sell/transfer the title of property or otherwise fail to use it as Borrowers Primary Residence or b) 30 years from date of execution hereof. Payments due under this Note shall be made in lawful U.S. funds. Checks shall be made payable and delivered to the CALDWELL EAST URBAN RENEWAL AGENCY, 621 Cleveland Blvd, Caldwell, Idaho 83605, or at a different place if required by the Lender or Note Holder. 3. BORROWER'S PAYMENTS BEFORE THEY ARE DUE Each maker and endorser of this Note has the right to pay in full the principal sum thereof, agreeable to the Note Holder, at any time prior to said sum becoming due and owing, in which case the obligation represented by this Note shall be deemed fully satisfied. There shall be no penalty for early payment of all or any part of the sums due under this Note. 4. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Notice front Note Holder: If the Borrower does not pay the full amount upon the sale of the house and in accordance with the Repayment Schedule, the Caldwell East Urban Renewal Agency, may send the Borrower a written notice stating that if the overdue amount is not paid by a certain date, the Borrower will be in default. That date must be at least 10 days after the date on which the notice is mailed to the Borrower or, if it is not mailed, 10 days after the date on which it was delivered to the Borrower. (B) Default: If the Borrower does not pay the overdue amount by the date stated in the notice described in (A) above, the Borrower will be in default. If the Borrower is in default the Caldwell East Urban Renewal Agency, will require the Borrower to pay immediately the full amount of principal ($4,931.00). Even if, at a time when the Borrower is in default, the Caldwell East Urban Renewal Agency does not require the Borrower to pay immediately in full as described above, the Caldwell East Urban Renewal Agency will still have the right to do so. 1 " ° (C) Payment of Note Holder's Costs and Expenses: If the Caldwell East Urban Renewal Agency has required the Borrower to pay immediately in full as described above, the Caldwell East Urban Renewal Agency, will have the right to be paid back for all of its costs and expenses to the extent not prohibited by applicable law. i Those expenses include, for example, reasonable attorney's fees. 5. NOTE SECURED BY A DEED OF TRUST This Note is secured by a Deed of Trust of even date herewith granted by Lorna Sidwell , to Alliance Title of Idaho as Trustee, and CALDWELL EAST URBAN RENEWAL AGENCY, as Beneficiary, encumbering certain real estate therein described and duly recorded with the County Recorder, Canyon County, Idaho. 6. BORROWER'S WAIVERS Each maker and endorser of this note hereby waives presentment, demand, notice of protest and dishonor, and hereby agrees to remain bound for the payment of this Note notwithstanding any extension or extensions of time of payment of it or of any part of it made by agreement with any one or more of the parties hereto either before or after maturity. Borrower(s) hereby waives the rights to require the Note Holder to do certain things. Those things are: (A) to demand payment of amounts due (known as "presentment"); (B) to give notice that amounts due have not been paid (known as "notice of dishonor"); (C) to obtain an official certification of nonpayment (known as a "protest"). Anyone else who agrees to keep the promises made in this Note, or who agrees to make payments to the Note Holder if the Borrower(s) fails to keep promises under this Note, or who signs this Note to transfer it to someone else also waives these rights. These persons are known as "guarantors, sureties and endorsers". 7. GIVING OF NOTICES r �- Any notice that must be given to Borrower under this Note will be given by delivering it or by mailing it by certified mail addressed to Borrower at the Property Address above. A notice will be delivered or mailed to Borrower at a different address if the Borrower has given the Note Holder a written notice of that different address. Any notice that must be given to the Note Holder under this Note will be given by mailing it by certified mail to the Note Holder at the address stated in Paragraph 2 above. A notice will be mailed to the Note Holder at a different address if the Borrower has been given a written notice of that different address. 8. RESPONSIBILITY OF PERSONS UNDER TMS NOTE If more than one person signs this Note, each person is fully and personally obligated to pay the full amount owed and to keep all of the promises made in this Note. Any guarantor, surety, or endorser of this Note (as described in Section 8 above) is also obligated to do these things. The Note Holder may enforce its rights under this Note against each of Borrower individually or against all Borrowers together. This means that any one Borrower may be required to pay all of the amounts owed under this Note. Any person who takes over the Borrower rights or obligations under this Note will have all of the Borrower rights and must keep all of the Borrower promises made in this Note. Any person who takes over the rights or obligations of a guarantor, surety, or endorser of this Note is also obligated to keep all of the promises made in this Note. NOTICE TO BORROWERS Do not sign this Note if it contains blank spaces. All spaces should be completed before you sign. GIVEN AND SIGNED on the date first mentioned above, by BorrowerC/ e6 e6 2 � �( TO 4- Date Borrower Date STATE OF IDAHO COUNTY OF CANYON On this 2nd day of November in the year 2001, before me a Notary Public, personally appeared Myrtle Sidwell known or identified to me to be the person whose name is 1 subscribed to the within instrument as the Attorney In Fact of Lorna I. Sidwell and acknowledged to me that she subscribed the name of Lorna I. Sidwell thereto as principal and her own name as Attorney. In Fact. ,�/ ".0 NotaTA ry Public� . iQ Residing at Caldwell = �, ,g a My commission expires 213104 = e Pogs-rpa AUG 4 PAID GJ , V ///J ,?o d 13 Zr;S`_ J • m n C_ **RE—RECORD TO ADD LEGAL DESCRIPTION** Z _ M W Ca C73 ;.�.> rn r7t r- tt rn -- ---== [Space Above This Line For Recordin Data] - ----tea ---------- CAD rti .0STEED DEED OF TRUST AND AUG 4 PAID SECURITY INSTRUMENT TH OF TRUST AND SECURITY INSTRUMENT ("Security Instrument") made this42t'l day PEED of 2001, among Lorna I. Sidwell, a widow (herein referred to as "GRANTOR"), whose mailing address is 613 N. Kimball Avenue, Caldwell, ID 83605; Pioneer Title Company (herein referred to as "TRUSTEE"); and the Caldwell East Urban Renewal Agency, whose address is 621 E. Cleveland Blvd., Caldwell, Idaho 83605, (herein referred to as "BENEFICIARY"). 2 Grantor is obligated to Beneficiary for the principal sum of $4,931.00. ..This obligation is evidenced by Grantor's Deed of Trust Note ("Note") dated the same date as this Security Instrument, including all amendments thereto, which provides for payments, with the full obligation, if not paid earlier, or otherwise deferred by Beneficiary, due and payable upon the earlier of a) the point in time that Borrower shall vacate, rent, sell/transfer the title of property or otherwise fail to use it as Borrowers Primary Residence or b) 30 years from date of execution hereof. This Security Instrument secures to Beneficiary: (a) the repayment of the obligation evidenced by the Note, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, advanced under paragraph 6 to protect the security of this Security Instrument; and (c) the performance of Grantor's covenants and agreements under this Security Instrument and the Note. For this purpose, Grantor irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in Canyon County, Idaho: The:Southwesterly Half of Lots 8, 9, 10, 11 and 12 of Block 78, in DEjTER'S ADDITION to the City of Caldwell, Canyon County, Idaho, according to the plat filed in Book 2 of Plats, Page 17i records of said County. Which has the address of: 613 N. Kimball Avenue, Caldwell, ID 83605 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property". GRANTOR COVENANTS that Grantor is lawfully seized 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. Grantor warrants and. will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. 1. Payment of Principal and Interest; Prepayment and Late Charges. Grantor shall promptly pay when due the principal of and interest on the obligation evidenced by the Note and any late DEED OF TRUST Page 1 of 8 charges due under the Note. The interest rate, payment terms, and balance due with respect to the loan secured by this instrument may be indexed, adjusted, renewed or renegotiated in accordance with the terms of the Note secured by this instrument and or on account of any extension or renewals of the note. Payments of principal, interest or both may be deferred. All deferrals of principal and/or interest, and further advances, are obligatory as to the Grantor. The indebtedness evidenced by the Note, or any instrument issued in substitution therefore or in renewal or as a refinancing thereof, and all other sum_ s secured hereby are collectively referred to herein as the "Indebtedness". 2. Application of Payments. Unless applicable law provides otherwise, all payments received by Beneficiary under paragraph 1 shall be applied: first, to interest accrued on the then unpaid principal balance of the Note; second, to the principal due; and last, to any late charges due under the Note. 3. Taxes and Utilities; Liens. The Grantor will pay, before a fine or penalty might attach for nonpayment thereof, all taxes, assessments and all other charges whatsoever levied upon or assessed, placed or made against the Property. The Grantor will pay all charges made by utility companies, public or private, for electricity, gas, heat, water or sewer furnished to or used in connection with the Property and, upon written request by the Beneficiary, will promptly deliver to the Beneficiary receipts for the payment of such charges. Grantor shall pay these obligations on time directly to the person owed payment. Grantor shall promptly furnish to Beneficiary all notices of amounts to be paid under this paragraph. If Grantor makes these payments directly, Grantor shall promptly furnish to Beneficiary receipts evidencing the payments. Except as approved by Beneficiary in writing, Grantor shall promptly discharge any lien which has priority over this Security Instrument unless Grantor: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Beneficiary; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Beneficiary's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Beneficiary subordinating the lien to this Security Instrument. If Beneficiary determines that any part of the Property is subject to a lien, not previously approved by Beneficiary, which may attain priority over this Security Instrument, Beneficiary may give Grantor a notice identifying the lien. Grantor shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 4. Hazard or Property Insurance. Grantor shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Beneficiary requires insurance. This insurance shall be maintained in the amounts and for the periods that Beneficiary requires. The insurance carrier providing the insurance shall be chosen by Grantor subject to Beneficiary's approval which shall not be unreasonably withheld. If Grantor fails to maintain coverage described above, Beneficiary may, at Beneficiary's option, obtain coverage to protect Beneficiary's rights in the Property in accordance with paragraph 6. All insurance policies and renewals shall be acceptable to Beneficiary and shall include a standard mortgage clause. Beneficiary shall have the right to hold the policies and renewals. If Beneficiary requires, Grantor shall promptly give to Beneficiary all receipts of paid premiums and renewal notices. In the event of loss, Grantor shall give prompt notice to the insurance carrier and Beneficiary. Beneficiary may make proof of loss if not made promptly by Grantor. Unless Beneficiary and Grantor otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Beneficiary's security is not lessened. If the restoration or repair is not economically feasible or Beneficiary's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Grantor. If Grantor abandons the Property, or does not answer within 30 days a notice from Beneficiary that the insurance carrier has offered to settle a claim, then Beneficiary may collect the insurance proceeds. Beneficiary may use the DEED OF TRUST Page 2 of 8 proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30 -day period will begin when the notice is given. Unless Beneficiary and Grantor otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of any payments referred to in paragraph 1 or change the amount of the payments. If under paragraph 18 the Property is acquired by Beneficiary, Grantor's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Beneficiary to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 5. Occupancy, Preservation, Maintenance and Protection of the Property, Grantor's Loan Application; Leaseholds. Grantor occupies or shall occupy, establish, and use the Property as Grantor's principal residence after the execution of this Security Instrument and shall continue to occupy the Property as Grantor's principal residence or pay all such amounts as may become due under the terms of the Note, unless Beneficiary otherwise agrees in writing, based on the terms of the Note, as reasonably determined by the Beneficiary. Grantor shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Grantor shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Beneficiary's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Beneficiary's security interest. Grantor may cure such a default and reinstate, as provided in paragraph 16, by causing the action or proceeding to be dismissed with a ruling that, in Beneficiary's good faith determination, precludes forfeiture of the Grantor's interest in the Property or other material impairment of the lien created by this Security Instrument or Beneficiary's security interest. Grantor shall also be in default if Grantor, during the loan application process, gave materially false or inaccurate information or statements to Beneficiary or any related party (or failed to provide any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Grantor's income and Grantor's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Grantor shall comply with all the provisions of the lease. If Grantor acquires fee title to the property, the leasehold and the fee title shall not merge unless Beneficiary agrees to the merger in writing. 6. Protection of Beneficiary's Rights in the Property. If Grantor fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Beneficiary's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Beneficiary may do and pay for whatever is necessary to protect the value of the Property and Beneficiary's rights in the Property. Beneficiary's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Beneficiary may take action under this paragraph 6, Beneficiary does not have to do SO. Any amounts disbursed by Beneficiary under this paragraph 6 shall become additional debt of Grantor secured by this Security Instrument. Unless Grantor and Beneficiary agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Beneficiary to Grantor requesting payment. 7. Inspection. Beneficiary or its agent may make reasonable entries upon and inspections of the Property. Beneficiary shall give Grantor notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 8. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu r , of condemnation, are hereby assigned and shall be paid to Beneficiary. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Grantor. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the DEED OF TRUST Page 3 of 8 oa ' amount of the sums secured by this Security Instrument immediately before the taking, unless Grantor and Beneficiary otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Grantor. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless Grantor and Beneficiary otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Grantor, or .if, after notice by Beneficiary to Grantor that the condemnor offers to make an award or settle a claim for damages, Grantor fails to respond to Beneficiary within 30 days after the date the notice is given, Beneficiary is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Beneficiary and Grantor otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the payments referred to in paragraph 1 or change the amount of such payments. 9. Grantor Not Released; Forbearance By Beneficiary Not a Waiver, Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Beneficiary to any successor in interest of Grantor shall not operate to release the liability of the original borrower or Grantor's successors in interest. Beneficiary shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Grantor or Grantor's successors in interest. Any forbearance by Beneficiary in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 10. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the' successors and assigns of Beneficiary and Grantor, subject to the provisions of paragraph 15. Grantor's covenants and agreements shall be joint and several. Any Grantor who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Grantor'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 Beneficiary and any other Grantor may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Grantor's consent. 11. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collect 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 Grantor which exceeded permitted limits will be refunded to Grantor. Beneficiary may choose to make this refund by reducing the principal owed under the Note or be making a direct payment to Grantor. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 12. Notices. Any notice to Grantor provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Grantor designates by notice to Beneficiary. Any notice to Beneficiary shall be given by first class mail to Beneficiary's address stated herein or any other address Beneficiary designates by notice to Grantor. Any notice provided for in this ' Security Instrument shall be deemed to have been given to Grantor or Beneficiary when given as - provided in this paragraph. DEED OF TRUST Page 4 of 8 13. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 14. Grantor's Copy. Grantor shall be given one conformed copy of the Note and of this Security Instrument. 15. Transfer of the Property or a Beneficial interest in Grantor. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Grantoris sold or transferred and Grantor is not a natural person) without Beneficiary's prior written consent, Beneficiary may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Beneficiary if exercise is prohibited by federal law as of the date of this Security Instrument. If Beneficiary exercises this option, Beneficiary shall give Grantor notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Grantor must pay all sums secured by this Security Instrument. If Grantor fails to pay these sums prior to the expiration of this period, Beneficiary may invoke any remedies permitted by this Security Instrument without further notice or demand on Grantor. 16. Grantor's Right to Reinstate. If Grantor meets certain conditions, Grantor shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing { this Security Instrument. Those conditions are that Grantor: (a) pays Beneficiary 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; and (d) takes such action as Beneficiary may reasonably require to assure that the lien of this Security Instrument, Beneficiary's rights in the Property and Grantor's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Grantor, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 15. 17. Hazardous Substances. Grantor shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property. Grantor shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Grantor shall promptly give Beneficiary written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Grantor has actual knowledge. If Grantor learns, or is notified by any governmental or regulatory authority, that any removal or their remediation of any Hazardous Substance affecting the Property is necessary, Grantor shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 17, "Hazardous Substances" are those substances defined as toxic or hazardous substances 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. As used in this paragraph 17, DEED OF TRUST Page 5 of 8 "Environmental Law" means federal laws and laws of the State of Idaho that relate to health, safety or environmental protection. 18. Events of Default. Any material default or breach or violation of any provision of this Deed of Trust, or any default under the Note shall be an Event of Default under this Deed of Trust. In additional an Event of Default is defined to include if Grantor (a) ceases to occupy the Property as his principal residence; (b) sells the Property to a buyer who is not a qualified buyer (who must purchase the Property for use as a primary residence and must have an income 80% or less of area median gross income including adjustments for family size), and/or who is not approved in writing by Benfeficiary; (c) transfers the Property to a third party who is not an approved, qualified buyer, including a transfer as a result of death or divorce; (d) rents the Property for any reason; or (e) refinances the Property, and Beneficiary determines, at its sole option, that the Note is due and payable. 19. Acceleration; Remedies; Reconveyance. Beneficiary shall give notice to Grantor prior to acceleration following Grantor's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 15 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Grantor, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall result in acceleration of the sums secured by this Security Instrument and sale of the Property. The notice shall further inform Grantor of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Grantor to acceleration and sale. If the default is not cured on or before the date specified in the notice, Beneficiary 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. Beneficiary shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable fr...._ attorneys' fees and costs of title evidence. If Beneficiary invokes the power of sale, Beneficiary shall execute or cause Trustee to execute written notice of the occurrence of an event of default and of Beneficiary's election to cause the Property to be sold, and shall cause such notice to be recorded in each county in which any part of the Property is located. Beneficiary or Trustee shall mail copies of the notice as prescribed by applicable law to Grantor and to 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 Grantor, 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. Beneficiary or its designee may purchase the Property at any sale. Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or warranty, expressed or implied. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees; (b) to all sums secured by this Security Instrument, and (c) any excess to the person or persons legally entitled to it. Upon payment of all sums secured by this Security Instrument, Beneficiary 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 and without charge to the person orpersons legally entitled to it. Such person. or persons shall pay any recordation costs. -�, 20. Substitute Trustee. Beneficiary may, for any reason or cause, from time to time remove { ? Trustee and appoint a successor trustee to any Trustee appointed hereunder. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. DEED OF TRUST Page 6 of 8 21. Area and Location of Property. Either the Property is not more than forty acres in area or the !' Property is located within an incorporated city or village. 22. Subordination. Beneficiary and Grantor acknowledge and agree that this Security Instrument is subject and subordinate in all respects to the liens, terms, covenants and conditions of any prior existing deed of trust constituting a first lien on the Property provided to the Grantor for the purpose of enabling Grantor to purchase the Property (the "First Deed of Trust'. The terms and provisions of the First Deed of Trust are paramount and controlling, and they supersede any other terms and provisions hereof in conflict therewith. BY SIGNING BELOW, Grantor accepts and,agrees to the terms and covenants contained in this Security Instrument and in any rider(s) executed by Grantor and recorded with it. Grant& Grantor Social Security Number J 9 19 YLI 7 /- Social Security Number ------------------------------(Space Below This Line For Acknowledgment] ------------ r�� t STATE OF IDAHO COUNTY OF CANYON On this 2nd day of November in the year 2001, before me a Notary Public, personally appeared Myrtle Sidwell known or identified to me to be the person whose name ,at�4$, u,n!rur+rrny, subscribed to the within instrument as the Attorney In Fact of Lorna I. StvA an�{R� acknowledged to me that she subscribed the name of Lorna I. Sidwel.9 `� principal, and her own name as AtiorneIn Fac Notary ublic 4 Residing at Caldwell '; OE3E3 -X ® © My commission expires 213104 REQUEST" FOR RECONVEYANCE TO TRUSTEE: The undersigned is the holder of the note or notes secured by this Deed of Trust. Said note or 1 notes, together with all other indebtedness secured by this Deed of Trust, have been paid in full. You are -- hereby directed to cancel said note or notes and this Deed of Trust, which are delivered hereby, and to DEED OF TRUST Page 7 of 8 yeconvene, without warranty, all the estate now held by you under this Deed of Trust to the person or r, persons legally entitled thereto. t Caldwell East Urban Renewal Agency BY: ITS: DEED OF TRUST Page 8 of 8 Date: C 3 0CD Tr N . - Y:J + U� Q " ���•". V C7 5 _ O R? Pn L I ;:z; l,ri m rn �~ Ch rN ftiJ m 0 �F 4T; -= Cil