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RIDER TO DEED OF TRUST <br />This RIDER TO DEED OF TRUST is made and delivered pursuant to and in <br />implementation of the Homebuyer Loan Agreement entered by and between the Trustor and the <br />Beneficiary dated , 20_ ("Agreement"), a copy of which is on file as a <br />public record with the Beneficiary at 24 Civic Center Plaza, Santa Ana, California 92701 and is <br />incorporated herein by reference. Unless definitions of terms have been expressly set out at <br />length herein, each terra shall have the same definition as set forth in the Agreement. Trustor <br />and Beneficiary further covenant and agree as follows: <br />1. Acceleration of Payment. The whole of the Note Amount and all other <br />payments due hereunder and under the Agreement shall become due and be immediately payable <br />to the Beneficiary by the Trustor upon the occurrence of any one of the following events of <br />acceleration: <br />(a) the sale or transfer of the Property (or any part thereof) by any means, <br />including, without limitation, the lease, exchange or other disposition of the Property or any <br />interest therein, whether voluntary or involuntary, except (A) a sale of the Property to a qualified <br />Moderate Income Household at an Affordable Housing Cost with the Beneficiary's prior written <br />approval accomplished in strict conformity with Section 4 of the Agreement, or (B) the transfer <br />of the Property solely as a result of the marriage, divorce, incompetence or death of one or more <br />individuals constituting the Trustor, so long as the transferee(s) give written notice supported by <br />reasonable evidence of such event to the Beneficiary within thirty (30) days of its occurrence and <br />the transferee(s) assume(s) the Trustor's obligations under the Agreement, by execution of an <br />assignment and assumption agreement to be provided by the Beneficiary, or (C) a sale or transfer <br />which under federal law would not, by itself, permit the Beneficiary to exercise a due on sale or <br />due on encumbrance clause; <br />(b) the Trustor refinances any purchase money lien or encumbrance to which <br />the Agency Deed of Trust is subordinate (each such lien, a "First Lien") for a loan amount in <br />excess of the then current loan balance secured by such lien or encumbrance and loan closing <br />costs; and/or <br />(c) the Trustor (and all co-signors and co-mortgagors, if any) fails to own and <br />occupy the Property as their principal residence pursuant to Section 7 of the Agreement or is in <br />Ownership Default as defined in Section 18 of the Agreement. <br />At the request of the Trustor, and for a specific occasion, the Beneficiary may, in <br />its sole and absolute discretion, in writing waive the requirements of these subparagraphs. Any <br />waiver or deferment shall be on a case by case basis, and no future rights for waiver or deferment <br />shall arise or be implied. Notwithstanding the foregoing, the Trustor may, upon prior written <br />approval by the Beneficiary, refinance any First Lien for a loan amount equal to or less than the <br />then current loan balance secured by such First Lien. <br />2. Contingent Equity Participation Amount. In the event the Note Amount <br />becomes due and payable pursuant to Section 1, Trustor shall pay to the Beneficiary the whole of <br />EXHIBIT C-2 TO ATTACHMENT NO. 11 <br />To Deed of Trust with Assignment of Rents <br />Rider to Deed of Trust <br />DOCSOC11400573v 141200272-0001