HomeMy WebLinkAboutEasements - 5/24/1985, Deed of Trust, Assignment of Rents & Security Agreement, William & Heiderarie Swier (Gran •
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' s , :. SOUTHWEST SAVINGS AND LOAN ASSOCIATION
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FIVER PER TO DEED OF TRU�4T, ASSIGNMENT Of ;
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'4% . RENTS ANC SECURITY Ai,REEpENT "+'~.
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• Loan No. _--=4- 1`??E�88' Date: 24, 1`� 5
FOR VALUE RECEIVED, the undersigned "Trustorts)" agree(s)
that the following provisions shall he incorporated into the said
Deed of Trust of„ even Cate to which this Rider is nt tak ',ed
`� (hereinafter the Deed of TI-...c”) as well as the Note(*) which
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said Deed of Trust secures 'hereina_•.r called the "Note" -
1. Qm!IRtk2D• This loan may be assumed by !% cilia; i f i ed
buyer upon application to and a prow,l by Southwest 5avin9s It nom,
• Increase in the then effective interest rate. This nss,uw,t;cn
will not affect the interest rate and monthly payment ad)ust,ents
provided for in the Promissory Note, and the Beneficiary wl i i
charge its normal assueption and processing fees.
2. YriOflim_f!!alltlllft_Fg1!• Trustor hereby agrees that
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Beneficiary shall have the right to assess a transfer fee in the
amount of One Percent (1%) of the outstanding principal loon
and/or Federal law andaorrtemulet authorized by applicable State r •
bslence, or in any
regulations, if all or any part of the
Property or any interei t therein is transferred or conveyed by
Trustor whether voluntarily or involuntarily,
law. The transfer fee shell be or by operation of . .
increase in the existing interest reteyab�e irrespective �f anya9;sed upon.
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So long as this Rider shall remain in effect, to the extent
that its provisions are inconsistent with the provisions of the 4
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Deed of Trust or Note, the provisions of this Rider shall reva:_ • •
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and shall supersede any such inconsistent provisions,
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of IN WITNE55 WHEREOF, this Rider was executed this 24th,
May
1435
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14ri.Ziatr�Sw1,er -- ---•--___-_--__
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STATE OF ARZZ A .
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Pima
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County of )
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Before me, a Notary Purl�r .
Pi n and fcr tie r.• y
me c
State of izc,;,r.
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Find J
wi��iam L►rJ.E't persona;1 apr,e.nr t_- . R
t:Iclemar ie ` J
known ,.c p&
be the persons whose name(' --- --
are subscr i oed to th.= ,...1 t=;, ,
instrument and who ackno+�ledged to i e that L thef
for the purposes coltained t' heY executed sa�:
therein.
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IN '4:1TIVE55
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seal this 30th dayof its,/,'Iy
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• AU./U SAME RATE NO1 E '
This nets contaene f),oeieiorts allowing for changes in my interest rate and my monthly Payment. It my interest
f rate l►a, a v payments will It i be . my Intermit rata decreases,my monthly Payments will t*
Ma? :41985 Phenix Ar',zone ill -
Calle
Vista1 Oto .
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rArizvne 8 704
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4 ?i. BORROWER'S PROMISE TO PAY
. In rel..n for a loan that t have received, t promise to pay U.S. S_127,q00.QU _ tthi,arrount ,s called•rrir:c:ipal"i.
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plus mte+•est,to the order of the Lender The Lender is Southwest Savings and Loan Association,a c;c rpo'st E-_n 1 un(ier' •
stand that 1.''e Lender may transfer this Note The Lender or anyone who takes this Note by 'ansfeer and who entit►ed a
t-r•.., -",payments under this Note is called the"Note molder."
2. INTEREST
• Interest si l,bs5gsar ed on unpaid principal until the full amount of principal has been paid.i wilt pay interest at.a yearly
rate of ..+'x. The interest rate I will pay will change in accordance with Sect on 4 of this Note
the interval rate requited by this Section 2 and Secton 4 of this Note is the late I will pay )0th before and after arty `
default described in Section 7(8)of this Note.
3, PAYMENTS •
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04 TIME AND PLACE Of PAYMENTS ,
I wilt pay principal and interest •
by making paymentseach month.
I will matte my monthly payments on the first day of each month beginning on Jul y l _, 19 �'' t
will make these payments every month until 1 have paid all of the principal and interest ar ' any other charges
described below that I may owe under this Note.My monthly payments will be applied to interest before prinoipa;.If•
WI_,_J-iftL-I-_- .2015 i still rove amounts under this Note,i will pay those amounts in full
on that data,which is called the"maturity date..'
I wit;f ake my monthly payments at 3101 North Central Avenue,Phoenix,Arizona or at a different place if required by ��
the Note Holder. ,
flo AMOUNT OF NY INITIAL MONTHLY PAYMENTS •
Each of my initial monthly payments wit:be in the amount of U.S.$ 1,161.72 • This amount may
change.
(C) MONTHLY PAYMENT CHANGES _
Changes in my monthly payment will refit,: •;antes in the interest rate that I must pay.The Note Holder will deter-
mine my new interest rate and the changed amount of my monthly payment in accordance with Section 4 of this a
Note.
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4. INTEREST RATE AND MONTHLY PAYMENT CHANGES •
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t14) CHANGE DATES •
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The interest rate I will pay may change on the f,rst day of June ,18_86_,and on that lav every ~
_U. th month thereafter.Each date on which my interest rate could change is called a"Change Date".
41Q THE INDEX •
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r~ Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the Monthly
Weighted Average Cost of Fjnds as compiled by the Federal!Home Loan, �3ank of San Francisco. The most recent .r
• index figure available as of the date forty-five(45)days before each Change Uate is called the"Current Index"
If the Index is no longer available,the Note Holder C till choose a new Index which is based upon comparable informa•
hon.The Note Holder will give me notice of this choice. ;
• . . . . IC) CALCULATION OF CHANGES
Before each Change Date,the Note Moide'w:ll;.alculate my new interest rate by adding _'_ _ -'• to the C,:r.
rent Index.The Note Holder will then round the ros.utt of this addition to the nearest 1/8th of one percentap,point
(0.125%).TIes rounded amount will be my new interest rate until the next Change Date
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My new interest rate,however,siltl never increase or decrease more than,_-{.•50 percenrage potnii/.;at oi,y a
change date,and will never increase or decrease more than,.5.00 percentage points from the ir,i.er-'° -ate
stated in Paragraph 2 of the Note.
The Note Holder will then determ;-e tre amount of the monthly payment that would be sut,tcient to,epa•;tri, ;..tin. ;
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cipal I am expected to owe at the ,barge nate in full on the maturity date dt cry new interest rate irc substant X1'.,
equal payments.The result of this•,alcul.ation will be the new amount of my monthly payment ,
{O) EFFECTIVE DAA E OF CHANGES `
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My new interest.rate will becc me uftectr'•e or,each„hange Date.I wife o,', ine amount of fly r ow month,„,,,-,:, ,
beginning on the firs' monthly paymer• date after the Change Date unt,I the amount of i'y Mo;-try, ;.,,,r,i,:,, •/
changes again.
(E) '4OTICE OF CHANGES -
.he Note Holder will deliver or mail to me a notice cit any changes,r,m- ,,-tit-,rest rate dont tris-j" Jt my ,ii,,,
t•afinenr before the effective date of any chan e ''h�±ic,t.ic' Niii .
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C9` t t N.i, 1%ii.i+. Ornlatipn rt"tjvllF•i ;7
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and aro the title and t� ., ,t:.. y: ,N
iephone nr'r b r of a person An,0 writ dnswr'i ;,:y c'uestion 1 may r z r t',-. . y, )
r. BOPIOl,1ER'S RIGHT TO REPAY
tram 't'ie r' t.''o make payments of')r,n,'i l,it ri r} t'itif.�! '{ l 1 +
U y as y .,. ;;r t tf)t.y r't �• :::ry.r�,, .,rai _1-
ep —,me—,. v P'iert I make a pre,:ayr73c'.,t 1 Vvi, .,Vtl ,.,.;fit°,-? Hirt e Iii i,M'rtirig that I
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€a ,.t p'epayr r.cot or UCit i i Or .,.., ,
r ,,,it,;A ,•,;! '- .. ',..,.,:Terri cr ,ge The N .. ..q. ,�,.
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ui ro,,t:'e`E.asments to,tr .._,e'rho&now,:•)i,e r?.,: ., ,we u:.Oo';hit h't,-, . ' ;, _ };-," :,. .:t-',`' ",'%,.0. . t•.••• -'
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Sw no criailpus in ti",fl cltie later .pnt` L;1V•,
of Jr?cr?f • , 'yr�, • .,,,•..,.!. ihF ',,,.le Sr: i,_ -"" >o o•r'tcrc .',2.
t,. 'r� ". r.. y" ':'v - of "' • •.
;;•ail,-vi pro a 'Rle:'lt will tecIL;C;e ".rf,-. .c'.u• iT ,r,,. 'tr. . . ', .. a .ce ..a •
r' L ? '� f)?�ni�i••tl .'Stf 's„G r.,,; �>": `• 1•a - -s
• c3•r:vent However,a^ rfj:t.rC,riot. r ri part:a! •, , ' -� ik `
�•' •y Qui. t..' '�y- !� t`iki.,.t)•Tl�;f;l r„�� t' �r.,.. t�i �''!'••frF•`.. .� .. c'.c: r+ti `.
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e. I.r` AN CHARGES
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,,,,, ,..,V.,• 7-:,.., rt• ic-.0., t,C1 t),,, the savoi,r, If..CeSSWy to reduce it chai ye to the perirstled sisit.
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.,,,,,A..1. ,,',.-,,,, ,,,,,i,,,,• ,-,, h c.coded 0,initted limits*IS be.etiincied to me The Note flolde,may'Th,,,,,,•-:!,ri,,,
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.. i'',,,,,ef,,,,,...!ii, •edu,',,, tri,principal I OW(,under this Note or te;i-n,king a direo payment to mc il,i(Wu:0 reduces p,In •
.•i:-,3 ir* c-c.),.,..1,.-,,, will 1.-w treated as a partial prepayment
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f 7 BORROWER'S FAIT URE TO PAY AS REQUIRED
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ik t.All CtiARG.E FON OVERDUE PAYMENTS J '
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N,•!,. rioiot- t,,,, .-.ct re,;eiveo itir,fuit iirnt,Uni of any monthly payment by the ecid of 15 c,i!fif-,14r(1d,t,,aoer the .
,,• r•-• ,,, !,., ; spoil vi,,r .i late charge lc,trio Note t-4,-;;der Pie amount of the charge will t)C, i '7.: ' .Ic 0 My . .
. •,..,,,,1;,,,i,in,eot -,i pc,,,„As and interes.t i will pay Ifrs late ch3.ge promptly but oniy once on ed,r, ti I'odyrT1,11! •
ill'i i)t fAUL1
,,, ir,, ,,,i, ,,,,,.,-,of ea,:h urionihiy payment on the date it is due,I will be tr.defaui!
fC) NOTtCE OF DEFAULT
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air 'cc 0,ti'oft.the N..ite H,`(ifil ma+, stud me a written notice telling me that if I do not pay tf,e over dui'amount by
a certain cate tht,Note Holder may !equire me to pay immediately the full amount of principal which lies riot been
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i...aid ans sit the interest 'Sat I owe on that amount. That date must be at toast 30 days after the date or which the
notice is derivered su mailed tl,me.
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(DI NO WAIVER BY NOTE HOLDER
Even it.a! a time when I ant in default,the Note Holder does not require me to pay immethately in fob as deScrib, .i ,
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above. the Note Holder will stilt have the right to do so it I am in default at a la.er time
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MS PAYMENT Of NOTE HOLDER'S COSTS AND EXPENSES
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I!the Not. Holder has required me to pay immediately in full as described above,the Note Howe, will have the right
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to be pato isick by me for all its costs and expenses to the extent not prohibited by applicable law Those expenses
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inc.iucle. to, example,reasonable attorneys'fees.
8. GIVING OF NOTICES .
tireless applicaote law requires a different method,any notice that must be given to me under this Note wis be giver,ty,••
(*riven%it or oy mailing it by first class mail to me at the Property Address above or at a different address if I give Ins, • •
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Note Holder a notice of my different address
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Any nottce that must be jiver)to the Note Holder under Iris Note will be given by mailing it by irst class mail to the Nett
Holder at the address staled in Section 34At above or at a different address if I am given a notice of that different .
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actotess.
9. OBLIGATIONS OF PERSONS UNDER THIS NOTE
tf sno:e than one person signs this Note,each person is fully and personslly obligated to keep all of t tie r•OfT.,S,' rtrade in
this Note.moss:ling the promise to pay the full amount owed Any Dersvn who is a guarantor,suret,. ',..ii endorser of this •
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Note is also ot,igated to Ca these things.Any person who teees over these obligations,including Ise stsigations of a . .
guarantor. surety or endorser of this Note, is also obligated to keep all.s1 the promises made in this Notr.-. The Note
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Holder may enforce its rights under this Note agai rst each person isdividssliy or against all of us logic!ii." 7 r:iS means . .. .
rho' any one or us may be required to pay all of the amounts owed under this Note. . .
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10. WAIVERS
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I and any otner person who has obligations under this Note waive •-,.e rights o; presentment and FlOfiCe• of dishonor. ,
"presentment" means the right tc require the Note Holder to derna : payment ot amounts due ••Notise of dishonor'
means the right to require the Note Holder to give notice to other persons that amounts due have not bees paid.
11. UNIFORM SECURED NOTE I
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This Note is a uniform instrument with limited variations in some isrisdlctions.In addition to me p,_)1,:c1C,1s g:i,r,t,.:,:lie
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Note Holder untie, this Note.a Mortgage. Deed of Trust or Security Deed(the "Security instrument S Cates tse same
date as this Note,protects the Note Holder from posse le losses which might result it i ci,. riot l,e(-2;.-.,ih,prc,mises'ovhicr.i
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make ir, this Note. That Security Instrument describes hew ar-I onder what conditions ! rsa,• Sc' :essilist to maskrs .I. •
medialc payment In full of all amounts I owe under this Note. Some of those conditions are desists:is!.,it, !,,iio.,i-, r'r •
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TRANSFER OF THE PROPERlY OR A BENEFICIAL:WIER EiST IN BORROWER. . , , •
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IT ai;Of ar,,;:,art or tri Property or any interest in it is soi...t or transfPirec i;-,ir if a besets, siss,-: s- s•
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sold or transferred ail Borrower it,cot a natural person',vrthout Lendie s r,.)rior an ,. ,- .,,r , -, •,.' -,
its opilori,;equine rrr,rr,edi,,te payment in full of all sums secured by this Sessris, iis•s:,1,itc,c H,-,••,..•--,-."
!ion shall ,..•)1 be exercised by Lender if exe,cise 13 prohibited by federal Is*ss s• "ss s...:s.- , si.. :-.s. s, s,, ,s "
strument. Lender aiski shall not exercise this option if w Borrower causes to b,subri,,!l,-,..! : :, , •-' —, -,i.
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tion reQuaed by Lender to evalua•e the intended trsnsferes as it a new loan acre sseins ss,si-7,...n',•0.. • ' .
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aria i'.))L C,..ler reasonably determines that sender s sec,r.ty will not be imoaired Sc, iss ssis ii',,,,•,
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!nal tne s55 of a breach Of any covenant Of dgfeelf,en; .c", thiS Security Instrury-ient ,,,.,:..,-•.,:.:.,,:,. •,, .— ;.-
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. To Its,s,itss pc:rested by, applicable ise: Lender rra . rge a reasonable lees',a ..--7,. - • ,, • : ,• • •-
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.fc' '‘c !ne ioan as,--urnptio,1 Lenuer may ai,i,rec.4,-• ,r•., transferee to s,gn an,J.,..,..,q,,.. . .-...-- : ,• ' , , —
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accfq)!abi,-to Lends,s, and Clint obligates the transfer,it tic kc,..f) ,o tr,prom,,,,,„ ;,,,, .,-,,. • .......,, ,..
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Note oral ,,, this Secur,ty sistrumeni borrower sdiil r•eitisss Is Sc' cisigstes sssei His rssi, , - . .., :,
iesirsnient ..;niet_-: t eiicie, rel:?ases E3;.:,,,,-).,re, ,n writ,.
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