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and all renewals or replacements thereof or articles in substitution therefore, whether or not the same are, or shall be attached to said building or buildings in any manner; and all of the foregoing, together with the Property, is herein referred to as the "Security"; To have and to hold the Security together with acquittances to the Trustee, its successors and assigns forever; TO SECURE to the Beneficiary (a) the repayment of the sums -evidenced by a Promissory Note to the Beneficiary executed by Trustor, dated concurrently, herewith in the principal amount of Dollars ($ .00) (the "Loan" ); (b) the payment and performance of the covenants and agreements of Trustor contained in that certain Homebuyer Down Payment Assistance Loan Agreement dated -concurrently herewith and recorded in the official land records of the County of Orange concurrently herewith, by and among Trustor, Beneficiary, and Agency ("Agreement"), (c) the payment and performance of the covenants and agreements of Trustor contained in the :Income and Owner -Occupancy Restrictions for Homebuyer Down Payment Assistance \Lba{i -Agreement ("Affordability Covenants") dated concurrently herewith, and (d) the payment of all other,sums, with interest thereon, advanced in accordance herewith to protect the security 'of this Deed of Trust; and the performance of the covenants and agreements of Trustor contained herein. Each of the Loan Agreement, the Affor'dab'ility Covenants, the City Promissory Note and the City Deed of Trust provide a means of enforcement by the City if Trustor is in breach of its obligations hereunder and thereunder, including liens on the Property, use and deed restrictions and covenants running with the land [24 CFR 92.504 (c)(13)], TRUSTOR AND THE BENEFICIARY COVENANT AND AGREE AS FOLLOWS 1. The Loan. This Deed of Trust is executed and delivered, along with the Promissory Note, pursuant to and in implementation of the Homebuyer Down Payment Assistance Loan Program (the "Program") underwhich the,City will provide a subsidy in the form of a trust deed loan in the maximum amount of $80,000.00 to an "Eligible Person or Family" (as defined elsewhere in this Agreement) toward the purchase of a residence within the City. Trustor acknowledges that but for the execution of this Deed of,Trust, the Beneficiary would not enter into the Promissory Note secured by this Deed of Trust. 2. . Trustor's Estate. Trustor is lawfully seized of the estate hereby conveyed and has the tight to grant and convey the Security; that other than this Deed of Trust, the Security is not encumbered except for obligations secured by deeds of trust, or any other security agreement, to secure financing or, refinancing for the purchase of the Property. 3. Renavment of the Loan. Trustor will promptly repay, when due, the principal and inteiesf, if any, as required by the Promissory Note secured by this Deed of Trust. 4. Subordination. This obligation secured by this Deed of Trust shall be subordinated to any and all obligations secured by deeds of trust, or any other security agreement, to secure financing for the refinance of the Property; subject to and provided that the Beneficiary and such Senior Lender 2 25C-23