2026-000005

Klamath County, Oregon
01/02/2026 08:29:01 AM
Fee: $192.00

When recorded, return to;

First American Mortgage Solutlons

¢/o New American Funding Post Closing
1795 International Way

Idaho Falls, ID §3402

MAIL TAX STATEMENT TO:
New American Funding, LLC
14511 Mylford Road, Suite 100, Tustin, CA 92780

Title Order No.: 1035105
Escrow No.: EMP-25003444
LOAN #: 1002074211

[Space Below This Line For Acknowledgment]
DEED OF TRUST COVER PAGE
This Cover Page MUST be attached with your recordable decument

1. Grantor/Borrower Name(s) and Address:

Pamela Joy Jones Douglas Raymond Jones
3045 Madison St 3045 Madison St
Klamath Falls, OR 87603 Klamath Falls, OR 97603

2. Granlee/Lender Name and Address: MNew American Funding, LL.C
14511 Myford Road, Suite 100
Tustin, CA 92780
3. Trustes Name and Address: AmeriTitle, LLC
9465 W Emerald St, Ste 120
Boise, 1D 83704
4. Name and Address of Nominee for Lender: Martgage Electronic Registration Systems, Ine.
P.C. Box 2026
Flint, M] 48501-2026
5. The trua and actual consideration paid for this transter is $330,178.00.

6. Until 2 change Is requested, ali tax statements shall be sent to the following address:
MNew American Funding, LLC
14511 Myford Road, Suite 100
Tustin, CA 92780

Or, Rev. Stat, 205.234

ICE Mortgage Tachnology; Inc. ORCOVER 0324
ORCOVER (CLS)

When recorded, retum to:

First American Mortgage Solutions

¢fo New American Funding Post Closing
1795 International Way

Idaho Falls, ID §3402

Title Order No.: 1035105
Escrow No.: EMP-25008444

LOAN #: 1002074211
[Space Above This Line For Recording Data]
FHA Case No.
DEED OF TRUST 431-7924939-729
[ MmN 1003763-0305060958-7
MERS PHOMNE #: 1-888-873-6377
DEFINITIONS

Words used In multiple sections of this document are defined below and cther words are definad under the caption
TRANSFER OF RIGHTS [N THE PROPERTY and in Sections 3, 4, 10, 11, 15, 18, 23, and 24. Certain rules ragarding the
usaga of words used In this decument are also provided In Section 16.

Partles

(A) “Borrower” is PAMELA JOY JONES AND DOUGLAS RAYMOND JONES, WIFE AND HUSBAND AS
TENANTS BY THE ENTIRETY

currently residing at 3045 Madison St, Klamath Falls, OR 97603,

Borrower is the grantor under this Security Instrument,
(B) "Lender” is New American Funding, LLC.

Lender Is a Limited Liability Company, organized and existing
under the laws of Delaware. Lender's address is 14511 Myfard Road, Suite 100,
Tustin, CA 92780.

The term “Lender” includes any successors and assigns of Lender.
(C) “Trustee” is AmeriTitle, LLC.

Trustee's address is 9465 W Emerald St, Ste 120, Boise, 1D 83704.

The term “Trustes” includes any substitute/successor Trustee.

(D) "MERS" is the Mortgage Electronic Raegistration Systems, Inc. Lender has appointed MERS as tha nominee for
Lender for this Loan, and attached a MERS Rider to this Security Instrument, to be exacuted by Borrowar, which further
describes the relationship between Lender and MERS, and which is incorporated into and amends and supplements
this Security Instrument.

OREGON - Single Family - Fannle Maa/Freddle Mac UNIFORM INSTRUMENT (MERS) Form 3038 07/2021 (rev. 7/23)

Modified far FHA 1/2023 (HUD Handbook 4000.1)

ICE Mortgage Technology, Inc. Page 1 of 12 OREFHA23DE 0323
OREDEED {CLS)

LOAN #: 1002074211
Documents

(E) “Note” means the promissory note dated December 18, 2025, and signed by each Borrower who is lagally
obligated for the debt under that promissory nele, that is in either (i) paper form, using Borrower’s written pen and Ink
gignature, or (il) electronic form, using Borrower’s adopted Electronic Signature in accordance wilth E-SIGN. The Note
evidances the legal obligation of each Borrowsr who signad the Note fo pay Lender THREE HUNDRED THIRTY
THOUSAND ONE HUNDRED SEVENTY EIGHT AND NO/10Q* **** ¢t s svadtnsaccnnnantnaatbavrasnes
Dollars (U.S. $330,1786.00 ) plus interast. Each Borrowsr who signed the Nete has promised to pay this debt in
regular monthly payments and to pay the dabt in full not later than January 1, 2036,
(F} “Rlders” means all Riders to this Security Instrument that are signed by Berrower. All such Riders are incorporatad
Into and deemed to be a part of this Security Instrument. The following Riders are to be signed by Borrower [check box
as a[%lpiicable]:
Adustatle Rate Rider [ Condominlum Rider [ Planned Unit Development Rider
@& Other(s) [specify]
Mortgage Electronic Registration Systems, Inc. Rider

(G) “Security Instrument” means this document, which is dated December 18, 2025, tegather with all Riders to
this document.

Additianal Definltions

(H) “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 wall as all applicable final, non-appealable judiclal opinions.
() “Community Assoclation Dues, Fees, and Assessments” means all dues, fees, assessments, and other
charges that are imposed on Borrower or the Property by a condominium assccliation, homeowners assoctation, or
similar organization.

{J) “Default” means: (i) the failure to pay any Periedic Payment or any othar amounlt securad by this Security Instrument
on the date it is dus; (il) a breach of any represantation, warranty, covenant, obligation, or agreement in this Security
(nstrument; (iii) any materially false, misleading, or inaccurate infermation or statement to Lender provided by Borrower
of any persons or entities acting at Borrower's direction or with Borrower's knowladge or consent, or fallure to provide
Lendear with material information in connection with tha Loan, as described in Section 8; or (iv) any action or procesding
described in Section 11(e).

(K) “Electronic Fund Transfer” means any transfer of funds, other than a transaction originated by check, draft, or similar
paper Instrument, which is initiated through an slactronic terminal, telephenic Instrumsnt, computer, or magnetic tapa so
as to order, Instruct, or authorlze a financlal 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 or other electronic device
capable of communicating with such financial institution, wire transfers, and automated clearinghouse transfers,

{L) “Electronlc Slgnature” means an “Electronic Signature® as defined in E-SIGN.

{M) “E-SIGN" moans the Electronic Signatures in Global and National Commaerce Act (15 U.S.C. § 7001 of seq.), as it may
e amendad from time to time, or any applicable additional or successcr leglslation that governs the same subject matter.
(N) “Escrow |tems” means: (a) taxes and assessmants and other items which can attain priority over this Security Instru-
ment as a lien or encumbrancea on the Properly; (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) Merigage Insurance premiums to be pald by Lender to
tha Secrelary or the manthly charge by the Secretary Instead of the monthly Mortgaga Insurancs premiums,

{O) “Loan" means the debt abligation evidancad by the Note, plus interest, costs, expenses, and late charges due under
the Note, and all sums dus under this Security Instrumant, plus intsrest.

{P) “Loan Servicer” means the entity that has the contractual right to receive Borrowar’s Perlodic Payments and any
cther payments made by Borrowsr, and administers the Loan on behalf of Lender. Loan Servicer does not Includs a
sub-sarvicer, which is an entity that may service the Loan on ehalf of the Loan Servicer.

() “Miscellaneous Proceeds™ means any compensation, settlement, award of damages, or proceeds paid by any third
party (cther than insurance preceeds paid under the coverages dascribed in Section 5) for: (i) damage o, or destruction
of, the Property; (i) condemnation or other taking of all or any part of the Property; (ill) conveyance In lieu of condemna-
tion; or (Iv) misrepresentations of, or cmisslons as lo, the value andfer condition of the Property.

{R) “Mortgage [nsurance” means insurance protecting Lender against the nonpaymant of, or Default on, the Loan.
(S) “Partlal Payment” means any payment by Borrower, other than a voluntary prapayment parmitted under the Note,
which Is less than a full outstanding Periodic Payment.

(T) “Perlodlc Payment™ means the regularly scheduled amount dua for (i) principal and interest under the Note, plus
(i) any amounts under Section 3.

{U) “Property"” means the property dascribed below under the heading “TRANSFER OF RIGHTS IN THE PRCPERTY.
(V) “Rents” means all amounts tecelved by or due Borrower in connection with the lease, use, and/or occupancy of the
Property by a panly other than Borrower.

(W) “RESPA” means the Real Estate Setllement Procedures Act (12 U.S.C. § 2601 ef s8q.) and its implementing regu-
lation, Regulaticn X {12 C.F.R. Part 1024), as they may be amended from time to tims, or any additional or slccassor
federal legislation or regulation that governs the same subject matter. When used In this Security Instrument, “RESPA”
rafers to all requirements and restrictions that would apply to a *federally related mortgage loan” even if the Loan does
not qualify as a “federally related mortgags loan® under RESPA.

(X) “Secretary” means the Sacratary of the United States Department of Housing and Urban Development or his designee.
{Y) “Successorin Interest of Borrower” means any party that has taken fitle to the Property, whether or not that party
has assumed Barrower's obligations under the Note and/or this Security Instrumant,

OREGON - Single Family — Fannle Mae/Freddle Mac UNIFORM INSTRUMENT (MERS) Form 3038 07/2021 (tev. 7/23)

Modified for FHA 1/2023 (HUD Handbook 4000.1)

ICE Mortgage Technoiogy, Inc. Page 2 of 12 CREFHAZ3DE 0923
OREDEED {CLS)

LOAN #: 1002074211
TRANSFER OF RIGHTS IN THE PROPERTY

This Security Instrument secutes to Lander (i) the rapayment of the Loan, and all renewals, extensions, and medifica-
tions of the Note, and (li) the performance of Borrower's covenants and agreements under this Security Instrument and
the Note. Fer this purpose, Borrower irrevocably grants and conveys to Trusles, In trust, with power of sale, the following
daescribad property localed in the County of Klamath:

SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HERECF AS "EXHIBIT A",
APN #: 559960

which currently has the address of 3045 Madisen St, Klamath Falls [Street] [City]

Qregon 97603 (“Property Address”);
[Zip Code]

TOGETHER WITH all the improvements now cr subsequently erected on the property, Including raplacemsnts and
additions o the imgprovements on such property, all property rights, including, without limitation, all easements, appurte-
nances, royaltles, mineral rights, oll or gas rights or profits, water rights, and fixtures now or subsequently a part of the
property. All of the foregoing s refarred to in this Security Instrument as the “Property”

BORROWER REPRESENTS, WARRANTS, COVENANTS, AND AGREES that: () Borrower lawfully owns and
possesses the Property conveyed in this Security Instrument in fee simple ar tawfully has the right to use and occupy
the Property undar a leaseheld estate; (i) Borrewer has the right to grant and convey the Property or Barrower's lease-
hold intarest in the Property; and (iii)) the Proparty is unencumbered, and not subject fo any other cwnership interest In
the Property, except for encumbrances and ownership interests of record. Borrower warrants generally the title 1o the
Praperty and covenants and agrees to defand the title to the Praperty against all claims and demands, subject to any
encumbrances and ownership interests of record as of Loan closing.

THIS SECURITY INSTRUMENT combines unlform covenants for hational use with limited varialions and non-unifarm
covenants thal reflect specific Cregon state requitements to constitute a uniform securlty instrument covaring real property.

UNIFORM COVENANTS. Borrower and Lender covenant and agres as follows:

1. Payment of Principal, Interest, Escrow ltems, and Late Charges. Borrower will pay each Periodic Payment
when due. Borrower will also pay any late charges due under the Note, and any other amounts due undar this Security
Instrument, Paymants dua under the Note and this Security Instrument must be made In U.8. currency. If any check or
other Instrument recelved 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 Nota and this Security Instrument be mada In
one or more of the following forms, as selected by Lender: (a) cash; (b) monay order; (c) certified check, bank check,
treasurer’'s check, or cashler's check, pravided any such chack is drawn upen an institution whose deposits are insurad
by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer.

Paymenls are deemed recelved by Lender when recelvad at the location designatad in the Note or at such other
location as may ba designated by Lender in accordance with the notice provisions in Section 15. Lender may accept or
return any Partial Payments in ils sole discretion pursuant to Section 2.

Any offset or claim that Borrower may have now or in the future against Lendar will not relieve Borrower from making
the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agres-
mants sacured by this Security Instrument.

2, Acceptance and Appilcation of Payments or Proceeds.

(a) Acceptance and Appllcation of Partlal Payments. Landar may accept and either apply or hold in suspense
Partial Paymeants in its sole discretion in accordance with this Section 2. Lender Is not obligated to accept any Partial
Payments or to apply any Partial Payments at the time such payments are accepted, and alse Is not obligated to pay
interast on such unapplied funds. Lender may hold such unapplied funds until Borrower makes paymant sutficiant to cover
a full Perlodic Payment, at which time the amount of tha full Parlodic Payment will ba applied to the Loan. If Borrower
dces not make such a payment within a reasonable period of time, Lender will either apply such funds In accordance
with this Section 2 or return tham to Borrower. If not applied earlier, Partial Paymeants will be creditad against the total
amount dus under the Loan in caleulating the amount dua In conneaction with any foreclosure procesding, payofl request,
loan modification, or reinstatemant. Lender may accept any payment insufficiant to bring the Loan current without walver
of any rights under this Security Instrument or prejudice to its rights to refuse such paymants in the future.

OREGON = Single Family = Fannle Mee/Freddle Mac UNIFORM INSTRUMENT (MERS) Foum 3038  07/2021 (rov, 7/23)

Modified tor FHA 1/2023 (HUD Handbook 4000.1)

ICE Morigage Technology, Inc. Page 3 of 12 OREFHA23DE (923
OREDEED {C18)

LOAN #: 1002074211

(b} Order of Application of Partlal Payments and Perlodlc Payments. Excapl as otherwise describad In this
Section 2, all payments accapted and applied by Lender shall be applied in the tallowing order of priority: First, to the
Mortgage Insurance premiums to ba paid by Lendar to the Secretary or the monthly charge by the Secratary instead of
the monthly mortgage Insurance premiums; Sacond, lo any taxes, special assessments, leasehold payments or ground
rents, and firs, flood and other hazard insurancs premiums, as required; Third, to interest dus under the Note; Fourth, to
amortization of the principal of the Note; and, Fifth, to late charges due undsr the Note.

If Lender recalvas a payment from Borrower Ih the amount of ona or mere Periedic Payments and the amount cf any late
charge dua for a delinguent Periodic Payment, the payment may be applied to the delinquent payment and ths late charge.

Whan applying payments, Lender will apply such payments In accordance with Applicable Law,

{c) Voluntary Prepayments. Voluntary prepayments will be applied as described in the Note.

(d) No Changeto Payment Schedule. Any application of payments, insurance praceeds, or Miscellaneous Preceeds
to principal due under the Note will not extand or postpona the dua dats, or change the amount, of the Periodic Payments.

3. Funds for Escrow ltems.

{a) Escrow Requirement; Escrow ltems. Borrowar must pay to Lender on the day Periodic Payments are dus under
the Note, until the Note Is paid In full, a sum of money to provide for payment of amounts due for all Escrow items (the
“Funds”). The amount of the Funds required to be pald each month may change during the term of the Loan. Borrower
must promplly turnish to Lender all notices or involces of amounts to be paid under this Section 3.

(b) Payment of Funds; Walver. Barrower must pay Lendsr the Funds for Escrow ltems unless Lender walves this
obligation in writing. Lender may waive this obligation for any Escrow Itam at any time. In the event of such walver, Bor-
rower must pay directly, when and whsre payable, tha amounts dus for any Escrow ltems subject to the walver. If Lander
has walved the requirement to pay Lenderthe Funds for any or all Escrow Items, Lender may require Borrower to provide
preot of ditect payment of thosa itams within such time period as Lender may require. Borrower’s obligation to make
such timely payments and to provide proof of payment is deemsad to be a covanant and agreement of Borrower under
this Security Instrument. [f Borrower is obligaled to pay Escrow ltems directly pursuant to a waiver, and Borrcwaer fails to
pay timely the amount dua for an Escrow [tem, Lender may exarcise its rights under Section 9 to pay such amount and
Borrower will be obligated to repay to Lender any such amount In accordance with Sectlon 9.

Lender may withdraw the walver as to any or all Escrow Iltems at any time by giving a notice In accordance with
Sectian 15; upon such withdrawal, Borrower must pay to Lender all Funds for such Escrow Items, and in such amounts,
that are then required under this Section 3.

(c) Amount of Funds; Applicatlon of Funds. Lender may, at any time, collect and held Funds in an amount up to,
but notin excess of, tha maximum amount a lendsr can require under RESPA, Lender will estimate the amount of Funds
due in accordance with Applicable Law.

The Funds will be held in an institution whose deposits are insured by a U.S. faderal agency, instrumentality, or entity
{including Lender, if Lender is an institution whose deposits are so insured) or In any Federal Home Loan Bank. Lender
will apply the Funds to pay the Escrow lems no later than the time specified under RESPA. Lender may not charge
Borrower for: (i) holding and applying the Funds; {{l) annually analyzing the escrow account; or (ili) verifying the Escrow
{tams, unless Lender pays Borrower Interest on the Funds and Applicable Law permits Lender to make such a charge.
Unless Lender and Borrawer agrea in writing or Applicable Law requires Iinterest to be paid on the Funds, Lender will
not be required to pay Borrower any intsrest or earnings on the Funds. Lender will give to Borrower, without charge, an
annual accounting of the Funds as required by RESPA.

{d) Surplus; Shortage and Deficlency of Funds. In accordance with RESPA, if there Is & surplus of Funds held
in escrow, Lender will account to Borrowetr for such surplus. If Borrower's Perlodie Payment s delinquent by mere than
30 days, Lender may retain the surplus in the escrow account for the payment of the Escrow ltems. If thars is a shortage
of deficleney of Funds held in escrow, Lender will notlfy Borrower and Borrowar will pay to Lender the amount necessary
to make up tha shortage or deficlency in accordance with RESPA.

Upcn payment in full of all sums secured by this Security Instrument, Lender will pramptly refund to Borrower any
Funds held by Lender.

4. Charges; Llens. Borrower must pay (a) all taxes, assessments, charges, fines, and impositions atiributable to
the Property which have priority or may altain priority over this Security Instrument, (b) leasehold paymeants or ground
rents on the Praperty, it any, and (¢) Community Assoclation Dues, Faes, and Assessments, it any. If any of these itemns
are Escrow Itams, Borrower will pay them in the manner provided in Section 3.

Borrower must promptly discharge any lisn that has priority or may attain pricrity over this Security Instrument unless
Borrowsr: (aa) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender,
but enly so long as Borrower is performing under such agraemant; {bb) contests the lien in good faith by, or defends
against enforcement of tha lien in, legal preceedings which Lender datarmines, In ils sole discretion, opsrate to prevent
the enforcemeant of the llan while those proceedings are pending, but enly untll such proceedings are eoncluded; or
(cc) secures from the holder of the lien an agreement salisfactory to Lender that subordinates the lien to this Security
Instrument (collectively, the "Requirad Actions™). If Lender determines that any part of the Proparty Is subject to a lien that
has pricrity or may aftain priority over this Secutlly Instrurment and Borrower has not taken any of the Required Actlons
In regard to such lien, Lender may give Borrower a notice identifying the lien, Within 10 days after the date on which that
notice Is given, Borrower must satisfy the lien or take ons or more of the Required Actions.

5. Propetty Insurance.

{a) Insurance Requirement; Coverages. Borrower must keep the improvernents now existing or subsequently
arectad 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, winds, and flaods, far which Lender requires insurance. Bor-
rower mus! malntain the types of insurance Lender requires in the amounts (including deductible levels) and for the
periods that Lender requires. What Lender requires pursuant to the praceding sentences can change during the term
of the Loan, and may excead any minimum coverage required by Applicable Law. Borrowar may choose the insurance
carrisr providing the insurance, subject to Lender's right to disapprove Borrower's choice, which right will not be exer-
cised unreasonably.

OREGON = Single Famity = Fannle Mae/Freddle Mac UNIFORM INSTRUMENT (MERS) Form 3038 07/2021 (rev. 7/23)

Moditied for FHA 1/2023 (HUD Handbaok 4000.1)

ICE Mortgage Technology, Inc. Page 4 of 12 OREFHA2IDE 0923
OREDEED (CLS)

LOAN #: 1002074211

(b) Fallure to Maintaln Insurance. If Lender has a reasonable basls to believe that Borrowar has failed to maintain
any of the raquired Insuranee coverages described above, Lender may obtain Insurance coverage, at Lendar's option
and at Borrower's expense. Unless required by Applicable Law, Lender is under no abligation to advance pramiums for,
or to sesk to reinstale, any prior lapsed coverage cbtalned by Borrower. Lendsr Is under no obligation 1o purchase any
particular type or amount of coverage and may select the provider of such Insurance in its sole discretion. Before purchas-
ing such coverags, Lender will notify Barrowaer it taquired to do so under Applicable Law. Any such coverage will insure
Lender, but might not protect Borrowar, Berrower's equity In the Property, or the contents of the Proparty, against any
risk, hazard, or Ifability and might provide greater or lasser coverage than was previously in effect, but not exceeding the
coverage required undar Section 5(a). Borrower acknowledges that tha cost of the insurance coverags so obtained may
significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender for costs
assoclatad with reinstating Borrowar’s insurance policy or with placing new insurance under this Saction & will bacome
additional debt of Borrowsr securad by this Security Instrument. These amounts will bear interest at the Note rate from the
date of disbursement and will be payatie, with such interast, upon notice from Lender to Borrower requesting payment.

(c) Insurance Palicles. All insurance policies required by Lendar and renewals of such policies: (i) will be subject to
Lendar's right to disapprove such pelicles; (i) must include a standard mortgage clauss; and (lii) must name Lender as
morlgagee and/or as an additional loss payee. Lender will have the right to hold the pollcies and renewal certificates. It
Landar requires, Borrower will promptly give to Lender proct of paid premiums and renewal notices. If Borrower obtains
any form of Insurance coverags, not otherwise requirad by Lender, for damags to, or destruction of, tha Property, such
policy mustinclude a standard mortgage clause and must name Lendar as mortgagee and/or as an additional loss payee.

{d) Proof of Loss; Application of Proceeds. In the evant of loss, Borrower must give prompt netice to tha Insurance
carriar and Lender. Lender may make proof of loss if not made promptly by Borrower. Any Insurance proceads, whether
or nat tha underlying insurance was required by Lender, will be applied to restoration or rapair of the Property, if Lander
deems the restotation or repair to be economically faasible and detarmines that Lendar's security will not bo lessened
by such restoration or rapalr.

if the Propetty Is to be repaired or restored, Lender will disburse fram the insurance proceeds any initial amounts
that ars nocessary to bagin the repair or restoration, subject to any rastrictions applicable to Lender. During the subse-
quent repair and restoration period, Lander wil! have the right to hold such insurance procaeds until Lender has had an
opportunity 16 inspect such Proparty to ensura the work has been completed to Lender’s satisfaction (which may include
salisfying Lender's minimum eligibility requirements for persons repairing the Property, including, but not limitad to,
licansing, bond, and Insurance requirements) provided that such inspaction must be undertaken promptly. Lender may
disburse proceeds for the repairs and restoration in a single payment ar in a series of progress payments as the work Is
complsted, depending on the size of the repair or rastoration, the terms of the repair agreement, and whether Borrower
1s In Default on the Loan. Lander may make such disbursements directly to Borrower, o the person repalring or restor-
Ing the Property, or payable jointly to both, Lender wlll not be required to pay Borrower any interest or earnings on such
insurance proceeds unless Lender and Borrower agree in writing or Applicable Law requires otherwise. Fees for public
adusters, or other third parties, tetainad by Borrower will not be pald out of tha insurance proceeds and will be the sole
obligation of Borrower.

If Lender deems the restoration or repair not to be economically feasible or Lender's security would be lessenad
by such restoration or repait, the insurance proceeds will be applied to the sums secured by this Security Instrument,
whathar or not then duae, with the excess, if any, paid to Berrower, Such insurance proceeads will be applied in the ordar
that Partial Paymenls are applled In Section 2(b).

(e) Insurance Settlements; Asslgnment of Proceeds. If Borrowar abandons the Property, Lender may file, negoti-
ate, and settle any available insurance claim and selated mattars. If Borrower does not respond within 30 days to a notica
from Lender that the insurance carriar has offered 1o setile a claim, then Lendsr 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 26
or otherwise, Borrowar Is unconditionally assigning to Lender (i) Borrower's rights fo any insurance proceeds In an
amount not to excead the amounts unpald under the Note and this Security Instrument, and (li) any other of Berrower's
rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering
the Property, 1o the extent that such rights are applicable to the coverage of the Property. If Lender files, negotlales, or
settles a claim, Borrower agreas that any insurance proceeds may be made payable directly to Lender without the need
to include Borrowsr as an additional loss payse. Lender may use the Insurance proceeds either to repair or restore the
Property (as provided In Section 5(d)) or to pay amounts unpald undar the Nole or this Security Instrument, whether cr
not then due.

6. Occupancy. Borrowar must occupy, establish, and use the Property as Borrower's principal residence within 60 days
after the execution of this Security Instrument and must continue to oceupy the Property as Borrower’s principal residencs for
at least one year after the date of occupancey, unless: (1) Lender etharwlise agress In writing, which consent will not ba unrea-
scnably withheld; (2) Lender dotermines that this requirement shall cause undue hardship for the Borrower; or (3) extenuating
circumstances exist which are bayond Borrower's control.

7. Preservation, Malntenance, and Protection of the Property; Inspectlons. Borrower wlll not destroy, damage,
or impalr the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower must maintain the
Praperty in order to pravent the Praperty from daterlcrating or decreasing in valus due to its condition. Unless Lender
datermines pursuant o Section 5 that repalr or restoration Is not sconomically foaslble, Borrowar will promptly repalr the
Property If damaged te avoid further deterloration or damage.

It insurance or condemnation proceeds are pald to Lender in connection with damage to the Proparty, Borrower will
ba responsible for repalring or restoring the Property only If Lender has releasad procaeds for such purposes. Lender may
dishurse proceeds for the repairs and restoration In a single paymaent or in a series of prograss payments as tha work Is
completed, depending on the size of the repair or restoration, the tarms of the repalr agresment, and whether Borrower
is In Defzult on the Loan. Lendar may make such disbursemaents directly to Barrowar, to the person repairing or restoring
tha Property, or payable jointly to both. If the Insurance ¢r condemnation proceeds are not sufficlant to rapair or restore the
Property, Borrower remains obligatad to complete such repair ar rastoration.

QREGON - Singte Family -~ Fannle Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Fonm 3038 07/2021 (rev. 7/23)

Modified for FHA 1/2023 (HUD Handbook 4000.1)

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OREDEED (CLS)

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If condemnation proceads ase pald In connection with the taking of the property, Lendsr shall apply such proceeds to
the reduction of the Indabtadness under the Note and this Securily Instrument, first fo any delinquent amounts, and then
to payment of principal. Any application of the proceads to the principal shall not extend or postpone the due date of the
monthly payments or change the amount of such paymenis,

Lender may make reasonabla entries upon and inspactions of the Preparty. If Lander has reasonable cause, Lender
may inspsct the interior of the improvements on the Property. Lender will give Borrower notice at tha time of or prior to
such an interior inspaction specifying such reasonable cause.

8. Borrowet’s Loan Application. Barrower will be In Defautt If, during the Loan application process, Borrower or
any persons or entitles acting at Borrower's direction or with Borrower’s knowledge or consent gava materially false,
misleading, or Inaccurate Information or statements to Lender (or failed to provide Lendar with material information) in
connection with the Loan, Including, but not limited to, cverstating Borrower’s incoma ar assets, understating ot failing
to provide documentation of Borrower's debt obligations and llabilities, and misrepresenting Borrower's accupancy of
Intended occupancy of the Property as Borrowar's princlpal resldences.

9. Protectlon of Lender’s Interest In the Property and Rights Under this Securlty Instrument.

(a) Protection of Lender's Interest. If: () Borrower falls to perform the covenants and agreements contained in this
Security Instrument; (if) thera [s a lagal proceeding or govarnment order that might significantly affect Lender's nterast In
the Property and/or rights under this Sacurity Instrument (such as a proceading In bankruptcy, probate, for condemnation
or farfeiture, for enforcement of a lien that has pricrity or may attain prierity over this Securlty Instrument, or to enforce
taws or regulations); or (ili) Lender reasonably believas that Borrowar has abandoned the Praperty, then Lender may do
and pay for whataver is reasonable or appropriate to protact Lender’s interest In the Property and/or rights under this
Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the
Property. Lender's actions may Include, but are not limited ta: (1) paying any sums secured by a lien that has priority or
may aftain priotity ovar this Security Instrument; (1) appearing in court; and (111} paying: (A) reasonable attarneys’ fees
and costs; (B) praperty Inspaction and valuation fees; and (C) other feas incurred for the purpose of protacting Lender's
intarest in the Property and/or rights under this Security Instrument, Including its secured position in a bankruptcy pro-
ceading. Securing the Praperty Includes, but is net limitad to; exterior and Interior inspections of the Property, entering
the Property to make repalrs, changing locks, raplacing or boarding up doors and windows, draining water from pipes,
eliminating building or other cade vinlalions or dangerous conditions, and having utilities turned an or off. Although Lander
may take action undcer this Section 9, Lender is not required to do so and Is not under any duty or abligation to da so.
Lender will not be liable for not taking any or all actions authorized under this Section 9.

(b) Avolding Foreclosure; Mitigating Losses. If Borrower is In Defauit, Lender may work with Borrower to avoid fore-
closure and/or mitigate Lender's potential losses, but s not obligated to do sc unless required by Applicable Law, Lender may
take reasonable actions to evaluate Borrower for avallable alternatives to foreclosure, including, but not limited to, ebtaining
cradit reports, title reports, fitle insurance, property valuations, subordination agreements, and third-party approvals. Bor-
rower authorizes and consents to these actions. Any costs associaled with such loss mitigation activities may be paid by
Lender and recovered from Borrower as described below in Section 9(¢), unless prohibited by Applicable Law.

{(c) Additional Amounts Secured. Any amounts disbursed by Lender under this Section 9 will become additional
dabt of Borrower secured by this Security Instrument. These amounts may bear interest at the Note rate from the date
of disbursement and will be payable, with such interast, upon notica from Lender to Borrowar requesting payment.

(d) Leagehold Terms. If this Security Instrument is on a leasehold, Borrowsr will comply with all the pravisions of the
lease. Borrowar will not surrender the leasehold estate and Interssts conveyed or tarminate or cancel the ground lsase.
Borrower will not, without the express written consent of Lender, alter or amend the ground leass. If Borrower acquires
fee title to the Property, the leasehold and the fae title will not merge unlass Lender agrees to the marger in writing.

10. Assignment of Rents.

(a) Asslgnment of Rents. If the Property is leased to, used by, or cccupied by a third party {“Tenant”), Borrower is
uneonditionally assigning and Iransferring to Lender any Rents, regardless of to whom the Rents are payable. Borrower
autherizes Lender to collect the Rents, and agrees that each Tenant will pay the Rents to Lander. However, Borrower will
recelve the Rents until () Lender has given Borrower notice of Default pursuant to Section 26, and (i) Lender has given
notice to the Tenant that the Rants are to be paid to Lender. This Section 10 constitutes an absolute assignment and not
an assignment for additional security only.

{b) Notice of Default. I Lender gives notice of Default to Borrower: (i) all Rants receivad by Borrower must be held
by Borrower as trustee for the benefit of Lendar only, to be applied to the sums secured by the Security Instiument;
(i) Lendar will be antitied to collect and recelve all of the Rents; (i) Borrower agrees to instruct each Tanant that Tenant
is to pay all Rents due and unpald to Lendar upon Lender's written demand to the Tenant; (iv) Borrower will ensure that
each Tenant pays all Rents dus to Lendsr and will take whatever action is necessary to collect such Rents if not pald to
Lander; (v) unless Applicabla Law provides otherwise, all Rents collected by Lander will be applied first to the costs of
taking control of and managing the Property and collacting the Rents, including, but not limited to, reasonable attorneys’
fees and costs, recelver's faes, pramiums on racelvar’s bonds, repalr and maintenance costs, insurance premiums,
taxes, assessments, and othar charges on the Property, and then to any other sums secured by this Securily Instru-
ment; (vi) Lender, or any Judicially appointed recelver, will ba llable to account for only those Rants actually received; and
(vii) Lendar will be entitled to have a raceiver appointed io take possassion of and managa tha Property and collect the
Rents and profits derived from the Property without any showing as to the Inadequacy of the Property as security.

{c) Funds Pald by Lender. If the Rents are not sufficient to cover the costs of taking control of and managing the
Property and of collecting the Rents, any funds paid by Lender fer such purposes will become indebtedness of Barrower
to Lendar sacured by this Security Instrument pursuant to Section 9.

(d) Limitation on Collectlon of Rents. Borrowar may nat collect any of the Rents more than one month In advance
of the time when the Rents became dus, except for security or similar deposits.

(e} No Other Assignment of Rents. Borrowsr reprasents, warrants, covenants, and agrees that Borrower has not
signed any prior assignment of the Rents, will not make any further assignment of the Rents, and has not performed,
and will not parform, any act that could prevent Lender from exercising its rights under this Security Instrumant.

QREGON ~ Single Family — Fannte Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Fomm 3038 07/2021 (rev. 7/23)

Madified for FHA 1/2023 (HUD Handbook 4000.1)

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(f) Control and Malntenance of the Property. Unless requirad by Applicable Law, Lender, or a recalver appeinted
under Applicable Law, is not obligated to enter upon, take control of, or maintain the Property betore or after giving notice
of Dsfault to Borrower. However, Landar, ar a raceiver appeinted under Applicable Law, may do so at any time when
Borrower Is In Default, subject to Applicable Law.

(g) Additional Provisions. Any application of the Rents will not cure or waive any Default or invalidate any other
right or remedy of Lender. This Section 10 deas not mslleve Borrowsr of Borrowaer's obligations under Seclion 8.

This Section 10 will tarminate when all the sums securad by this Security Instrument are pald in full,

11, Asslgnment and Application of Miscellaneous Proceeds; Forfelture,

(a) Asslgnment of Miscellaneous Proceeds. Borrowar is uncenditionally assigning the fight to recsive all Miscel-
lansous Proceeds to Lender and agreas that such amounts will be pald to Lendar.

(b) Application of Miscellaneous Proceeds upon Damage to Property. If the Property is damaged, any Miscel-
lansous Procesds will be applied to rastaration cr repalr of the Property, it Lendar desms the rastoration or repair to be
aconomlcally feasible and Lendar’s securtity will not ba lessened by such restoration or repair. During such repalr and
restoration pericd, Lender will have the right to hold such Miscellaneous Proceeds unfil Lender has had an oppaortunity
to inspect the Property lo ensure the work has been completed o Lender’s satisfaction (which may include satistying
Lendar's minimum eligibility requirements for persons repairing the Property, including, but not limited to, licensing, bond,
and insurance requirements) provided that such inspaction must be undartaken promptly. Lender may pay for the repairs
and restoration in a single disbursement or in a serias of prograss payments as the work is completed, depending on
the size of the repair or rastoration, the terms of the repair agreemant, and whether Borrower is in Default on the Loan.
Lender may make such disbursements diractly to Berrower, to the person repairing or restoring the Property, or payable
jointly to bath. Unless Lender and Borrower agrae in writing or Applicable Law raquires interest to be paid on such Miscel-
lanaous Proceeds, Lender will not be required to pay Borrower any interast or earnings on such Miscellanecus Proceeds.
If Lender deams the rastoration or repair not to be acenomically teasibla or Lender's securlty would be lessened by such
rastoration or repair, the Miscellaneous Proceeds will be applied to the sums secured by this Securily Instrumant, whether
or net than due, with the axcess, it any, paid to Borrower. Such Miscellaneous Proceeds will be applied In the order that
Partial Payments are applied in Saction 2(b).

(c) Application of Miscellaneous Proceeds upon Condemnatlon, Destruction, or Loss InValue of the Property.
In the event of a lolal taking, destructicn, or loss in value of the Property, all of the Miscellaneous Proceeds will be applied
to the sums secured by this Security Instrument, whather or not then due, with tha excess, if any, paid to Borrower.

In the event of a partial taking, destruction, or loss in value of the Property (each, a *Partial Devaluation”) whera the
fair market value of the Property immediately befors the Partial Devaluation is equal to ¢r graater than the amount of the
sums secured by this Security Instrument immediatsly before the Partial Devaluation, a percentage of the Miscellaneous
Proceeds will be applied lo the sums secured by this Security Instrument unless Berrower and Lender otherwise agrea in
writing. The amount of the Miscellaneous Proceeds that will be so applled Is determined by multiplying the total amount of
the Miscellaneous Proceads by a percentage calculated by taking (i) the fotal ameunt of the sums secured immediately
before the Partial Devaluation, and dividing it by {ii) the fair market value of the Property immediately before the Partial
Devaluation. Any balance of the Miscellaneous Procesds will ba paid to Borrower.

Inthe event of a Partial Dievaluation where the fair market velue of the Properly immediately batore the Partial Davalu-
ation Is less than the amount of the sums secured immediately bafore the Partial Devaluation, all of the Miscellangous
Praceeds will be applied to the sums securad by this Security Instrument, whether or not the sums are then dus, unless
Borrowsr and Lender otherwlse agree in writing.

(d) Settlementof Clalms, Lender s authorized to collect and apply the Miscellaneous Proceeds slther to the sums
secured by this Security Instrument, whether or not then due, or to resteration or rapair of the Property, if Borrower
(I} abandong the Property, or (li) fails to respond to Lender within 30 days after the date Lender notitles Berrower that
the Opposing Party (as defined in the next sentence) offers to settle a claim for damages. “Opposing Party” means tha
third parly that owes Bomrower the Miscellanecus Proceeds or the party against whom Borrower has a right of action in
regard to the Miscellansous Proceeds.

(e) Proceeding Affecting Lender’s Interest In the Property. Borrower will be In Default if any action or proceeding
begins, whether civil ar criminal, that, in Lender’s judgment, could result in forfaiture of the Proparty or other material impair-
ment af Lender's intarest in the Property or rights under this Security [nstrument. Borrower ¢an cure such a Defaull and, If
acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding 1o be dismissed with
a ruling that, in Lender’s judgment, precludes forfelture of the Property or other material impairment of Lender's Intarest in
the Proparty or rights undar this Security Instrument. Borrower Is unconditionally assigning to Lender the procesds of any
award or claim for damages that are attributable to the Impairmant of Lendet’s Interest in the Property, which procecds will
be paid to Lendar. All Miscellaneous Procesds that are nct applied to restaration ot rgpair of the Property will be applied
in the ordar that Partial Payments are applied in Section 2(b).

12. Borrower Not Released; Forbearance by Lender NotaWalver, Borrower or any Successor in [nterest of Bor-
rowar will not be released from liability undar this Security Instrument if Lender extends the time far payment or modifies
the amortization of the sums secured by this Security Instrument. Lender will not be required to commence proceedings
against any Successor in Interest of Berrower, or to refuse to extend time tor payment or otherwise madify amortization of
the sums sacurad by this Security Instrumant, by reason of any demand mada by the original Borrower or any Successors
in Intarest of Borrower. Any forbearance by Lendar In exelelsing any right or remedy ineluding, without Iimitation, Lender’s
acceplance of payments from third persons, entities, or Successors In Interest of Barrower or in amounts less than the
amount then due, will not be a walver of, or preclude the exercise of, any right or remedy by Lender.

13. Jolnt and Several Llabllity; Signatarles; Successors and Asslgns Bound. Borrower's obligations and liabllity
under this Secutity Instrument will be [aint and several. However, any Borrower who signs this Security tnstrument but
does not sign the Nota: (a) signs this Security Instrumant to mortgage, grant, and convey such Borrowar's interest in the
Property under tha terms of this Security Instrument; () signs this Security Instrument to walve any applicable Inchoals
rights such as dower and curlesy and any available hamestead exemptions; (¢) signs this Security Instrument to assign
any Miscellansous Proceeds, Rents, or other earnings from tha Property to Lender; (d) Is not perscnally obligated to pay

QREGON - Single Family = Fannle Mae/Freddle Maa UNIFORM INSTRUMENT (MERS) Fomm 3038  07/2021 (rev. 7/23)

Modified for FHA 1/2023 (HUD Handbaok 4000.1)

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the sums dus under the Note or this Sscurity Instrument; and (e) agrees that Lender and any other Borrower can agree
to extand, modify, forbeat, of make any acccmmadations with regard to the terms of the Note or this Security Instrumant
without such Borrower’s consent and without affecting such Berrower's cbligations under this Security Instrument.

Subject to the provisions of Section 18, any Successor In Intarest of Borrower who assumes Borrower’s obligations
under this Security Instrument in writing, and Is approvad by Lender, will obtain all of Borrower’s rights, obligations, and
bensfits undar this Securlty Instrumant. Borrower will not ba released from Borrower's obligations and liability under this
Security Instrumaent unless Lendar agrees lo such release In writing.

14. Loan Charges.

(a) Tax and Flood Determination Fees. Lender may require Borrower 1o pay eithar (A) a one-time charga for flocd
zone determination, certlification, and tracking services, or (B) a one-time charga for flood zone determination and cer-
tification services and subsequent charges each time remappings or similar changes occur that reasonably might affect
such detarmination or certification. Borrower will also be respensible for the paymeant of any fees Imposed by the Federal
Emergency Managemant Agency, or any succassor agency, al any tims during the Loan term, In eonnection with any
fiood zone determninations.

(b) Default Charges. If permitted under Applicab!e Law, Lendar may charge Borrower faes for servicas performed in
connection with Borrower's Default to protect Landers Intarest In the Property and rights undar this Security Instrument,
Including: (i) reasonable attorneys' fees and costs; (i) property inspection, valuation, mediation, and loss mitigation fees;
and (lli) other related fees.

{¢) Perm!sslibllity of Fees. Lender may collect fees and charges authorized by the Secretary. Lender may nat charge
feas that are expressly prohibited by this Sacurity Instrument or by Applicable Law,

(d) Savings Clause. If Applicable Law sets maximum loan charges, and that law is finally interpreted so that the
interest or athar loan charges collected or to be collected In connection with the Loan exceed the permittad limits, then
(i) any such loan charge will be reduced by the amount nacessary to reduce the charge to the permitted limit, and (i) 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 Mote or by making a direct payment to Borrower. If a refund
reduces principal, the reduction will be treated as a partial prapayment. To the extent parmitted by Applicable Law, Bor-
rowar's accaptance of any such refund mada by diract payment to Borrower will constitute a walver of any right of action
Borrowsr might have arising out of such overcharge.

15. Notices; Borrower's Physlical Address. All notices given by Borrower ¢r Lender in eonneclion with this Security
Instrument must be In writing.

(a) Notlces to Borrower. Unless Applicable Law requires a different method, any written notice to Borrowar in con-
naction with this Security Instrument will be deemed fo have been given to Borrower when (i) mailed by first class mall,
or (i) actually delivered to Borrower's Nolice Address (as deflned in Section 15(c) below]) if sont by means other than first
class mail or Electronic Communication (as defined in Saction 15(b) below). Netice to any one Borrower will constitute
hotice to all Borrowars unless Applicable Law expressly raquires otherwise. if any notice to Borrower required by this
Sscurity Instrument is also raquired under Applicable Law, the Applicable Law raquirement will satisfy the corresponding
raquirement under this Security Instrument.

(b) Electronic Notice to Borrower. Unless another delivery method is required by Applicable Law, Lendar may provide
notice to Borrower by e-mail or other electronie communication (“Electronle Communication”) if: (I) agreed to by Lender
and Borrower in writing; {1i) Borrower has provided Lendar with Borrower’s e-tnall or other electronic address (“Electronic
Address™; (lii) Lender provides Borrower with the option to receive notices by first class mall or by other non-Electtonic
Communication instead of by Elactronic Communication; and {iv) Lender ctherwise complies with Applicable Law. Any
notice to Borrower sent by Electronic Communication in eonnection with this Security Instrument will be dasmead to have
been given to Borrower when sent unless Lender becomes aware that such notice is not delivered. It Lendsr becomes
aware that any notice sent by Electronic Communication is not delivered, Lender will resend such communieation to
Borrowar by first class mail or by other non-Elactronic Communication. Borrower may withdraw the agresment to receive
Electronlc Communications from Lander at any time by providing wiitten notice 1o Lender of Borrowsr's withdrawal of
such agreement.

(c) Borrower's Notice Address. Tha address to which Lender will send Borrawer notice (“Notice Address”) will be the
Property Addrass unless Borrower has deslgnated a different address by written nolice to Lendar. If Lender and Borrower
have agreed that notice may ba given by Electronic Communication, then Borrower may designate an Elactronic Address
as Notice Address. Borrower will promptly hotify Lander of Borrower’s change of Nolice Address, including any changes
to Borrower's Electronic Address If designated as Notica Address. If Lender specifies a procedure for reporting Borrower's
change of Notica Addrass, then Borrowar will report a change of Notica Address only through that specified procedure.

{d) Notices to Lender. Any notice to Lender will ba givan by dalivaring it or by mailing it by tirst class mail to Lender's
address stated in this Security Instrumant unless Lender has designated another address (Including an Elactronic Addrass)
by notice to Borrower. Any notice In connection with this Security [nstrument will be deemed to have bean glven to Lender
only when actually raceived by Lender at Lender's dasignated address (which may includse an Electronic Addrass). If any
nelles to Lender raquirad by this Securily Instrument is also required under Applicabla Law, the Applicable Law require-
ment will satisfy the corresponding requirement under this Security Instrument. '

(e) Borrower’s Physical Address. In addition to the designated Notice Addrass, Borrower will provide Lender with
the address where Borrower physically resides, it different from the Property Address, and notify Lender whenever this
addrass changes.

16. Governlng Law; Severabllity; Rules of Constructlon. This Securily Instrument is governad by federal law and
the law cf the State of Oragon. All rights and obligations contained In this Securlty [nstrumant ars subject to any require-
ments and limitations of Applicable Law. If any provision of this Security Instrumant or the Note conflicts with Applicable
Law () such conflict will not affect other provisions of this Security Instrument or the Nete that can be given effect without
the conflicting provision, and (i) such confiicting provision, to the extent possible, will be censidered maditied to comply
with Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be sllent,
but such sllence should not be canstruad as a prohibition against agreement by contract. Any action requirad under this

OREGON - Singla Family — Fannle Mae/Freddie Mae UNIFORM INSTRUMENT (MERS) Form 3038 07/2021 (rev. 7/23}

Modified for FHA 1/2023 (HUD Handbaok 4000.1)

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Security Instrument to be made in accordance with Applicable Law Is to be madae In accordance with the Applicable Law
in eftect at the time the action is undertaken.

As used In this Security Instrument: (a) words in the singular will mean and include the plural and vice versa; (b) the
word “may” gives solg discration without any obligation to take any action; (¢) any reference to “Section” In this document
refars lo Sactions contained in this Security Instrument unless otherwise noted; and (d) the headings and captions are
Insertad for convenience of reference and do not dafine, limit, or describe the scope or intent of this Security Instrument
or any parficular Section, paragraph, or provislon.

17. Borrower’s Copy. Ona Borrower will be given one copy of the Note and of this Security Instrument.

18. Transfer of the Property ot a Benefiglal Interest In Borrower. For purposes of this Section 18 only, *Interest In
the Property” means any legal or banaficial Interest in the Property, Including, but not limited to, those bensficlal Interests
transferred in a bond for deed, contract for dasd, instaliment sales contract, or escrow agresment, the Intent of which s
the transfer of title by Borrowsr to a purchaser at a future data.

If all or any part of the Proparly or any Intarest in the Property Is sold or transfarred (or it Borrower Is not a natural
person and a beneficial interest in Borrawer Is sold or transtarred) without Lender's pricr written consent, Lender may
require immediate payment In full of all sums securad by this Security Instrument, However, Lender will not exercise this
option it such exerclse is prohibited by Applicable Law.

If Lender exarcises this option, Lender will give Borrower notice of accelecation. The notice will provida a period of
not less than 30 days from the date the notice 1s glven In accordance with Saction 15 within which Borrowasr must pay
all sums secutad by this Securlty Instrument. If Borrawer fails fo pay these sums prior to, or upon, the expiration of this
period, Lender may invoke any remedies parmitted by this Security Instrument without further notice or demand on
Barrower and will be entitlad to collect all expenses incurrad in pursuing such remedies, Including, but not limitad to:
(a) reasonable attarnays' fees and costs; (b) property inspection and valuation feas; and (c) other fees incurred to protect
Lender's Intereslt in the Property and/or rights under this Sacurity Instrumant.

19. Borrowet's Right to Relnstate the Loan after Acceleratlon. If Borrower meets certain conditions, Borrower
shall have the right to reinstatement of a mortgage. Hewavar, Lender [s not required to relnstate if: (i) Lender has accepted
reinstatement after the commencemant of foreclosure proceedings within two years immedialely preceding the com-
mencemant o a current foraciosure proceedings; (i) rainstatemant will preclude foraclosura on difterent greunds in tha
futura, or (i) reinstatement will adversaly affect the priority of the llen created by this Security Instrument. This right 1o
rainstate will not apply in the casa of acceleration under Saction 18.

To reinstate the Loan, Borrowsr must satisfy all of the following conditions: (aa) pay Lender all sums that then would
be due under this Security Insttimant and the Note as it no acceleration had occurred; (bb) cure any Default of any
other covenants or agreements under this Security Instrument or the Nots; (cc) pay all expenses incurred In anforeing
this Security Instrument or the Note, including, but not limited to: (i) reasonable attorneys’ fees and costs; (ii) property
inspection and valuation fees; and (ill) other fess incurred to protect Lander's intarest In the Property and/for rights under
this Sacurity Instrumant or the Note; and (dd) take such action as Lender may reasonably require fo assure that Lendet's
interest in the Property and/or righls under this Security Instrument or the Note, and Borrower's obligation to pay the
sums secured by this Security Instrument or the Note, will continue unchanged,

Lender may require that Borrower pay such relnstatement sums and expenses in one or more of the following forms,
as selected by Lender: (aaa) cash; (bbb) money order; (ccc) certllled check, bank chack, treasurar’s chack, or cashier's
chack, pravided any such check is drawn upon an institution whose deposits are Insured by a 11.S. federal agency, instru-
mentality, or entity; or (ddd) Electronic Fund Transfer. Upon Borrower’s rainstatement of the Loan, this Security Instrument
and obligations secured by this Security Instrument will remain fully effective as if no acceleration had occurred.

20. Sale of Note. Tha Note or a partial interest in the Note, together with this Security Instrument, may be sold or
othemwlise transterred one or more times. Upon such a sale or other transfer, all of Lender’s rights and obligations under
this Sacurity Instrument will convay to Lender’s successors and assigns.

21. Loan Servicer. Lender may take any action permitted under this Security Instrument through the Loan Servicer
or another authorized represantative, such as a sub-servicer. Borrower undarstands that the Loan Secvicer or other
authorized rapresentative cf Lender has the right and authority to take any such action,

The Loan Servicer may changa one or more times during the term of the Note. The Loan Sarvicer may or may nat
be the helder of tha Note, The Loan Servicer has the right and authority to: (a) collect Periodic Payments and any other
amounts due under the Note and this Security Instrument; (b) perform any other morlgage loan servicing obligations;
and (c) exercise any rights under the Note, this Security Instrument, and Applicable Law an behalf of Lender. f therg is a
change of the Loan Servicer, Borrewer will be given written notice of the change which will state the name and address
of tha new Loan Servicer, the address to which payments should be mads, and any other information RESPA requires
in connecticn with a notice of transfer of servicing.

22. Notlce of Grlevance. Untll Borrower er Lender has nolified the other party (in accardance with Sectlon 15) of
an alleged breach and afforded the other party a reasonable period after the giving of such notice to take corrective
action, neither Borrower nor Lendar may commence, join, or be jolned to any judicial action (either as an individual
ltigant or a member of a ¢lass) that (a) arises from the other party's actions pursuant to this Security Instrument or the
Note, or (b) alleges that the other party has breached any provision of this Security Instrument or the Note. If Applicable
Law providas a time period that must elapse belore cartain action can be taken, that time period will be desmed to be
reasonable for purposes of this Seclion 22. The notice of Default given to Berrower pursuant to Section 26(a) and the
notice of acceleration given to Borrower pursuant to Section 18 will be deemed to salisfy the notice and epportunity to
lake corractiva action provisions of this Section 22.

23. Hazardous Substances.

(a) Definltlons. As used in this Section 23: (i) "Environmental Law” means any Applicable Laws where the Property
is located that ralate to health, safety, or environmental protection; (i) "Hazardous Substances” include (A) those sub-
stances defined as loxic or hazardous substances, pollutants, or wastes by Environmental Law, and (B) the tollowing
substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile
solvants, materials cantaining asbestos or formaldehyde, corrasive materials or agents, and radicactive materials;

OREGON - Singla Family — Fannle Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form3038 07/2021 (rev. 7/23)

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(i) “Environmental Clsanup” includes any response action, remedial action, or removal action, as defined in Environ-
mental Law; and {iv) an "Environmantal Condition” means a condition that can cause, contribute to, or otherwise trigger
an Environmental Cleanup.

{(b) Restrictions on Use of Hazardous Substances. Borrower will not cause or permit the presence, use, disposal,
storage, of ralaasae of any Hazardous Substances, or threatsn to release any Hazardous Substances, on orin the Praperty.
Borrowsr will not do, nor allow anyone alse to do, anything affecting the Property that: (i) violates Envircnmental Law;
(i) creates an Environmantal Conditlon; or (lif) due to the presence, use, or release of a Hazardous Substance, creates a
conditlon that adversely affects or could adversely affact the value of the Proparty. The preceding two senfences will not
apply to the prasence, use, or storaga an the Property af small quantities of Hazardous Substances that are generally
recognized to be appropriate to nermal residential uses and to maintananca of the Property (including, but not imited to,
hazardous substances in consumer products).

(c) Notices; RemedIal Actions. Borrowar will promptly glve Lander written notice of: (i) any investigation, claim,
demand, lawsull, or other action by any governmental or regulatory agency or private party involving the Property and any
Hazardous Substance or Environmental Law of which Barrowar has actual knowledge; (If) any Environmental Condition,
including but not limited to, any spilling, leaking, discharge, release, or threat of release of any Hazardous Substance; and
(lil) any condition caused by the presencs, use, or release of a Hazardous Substance that adversely affects the valus of
tha Property. If Borrower learns, or Is notified by any governmental or regulatory authority or any private party, that any
removal or other remadiation of any Hazardous Substance affacting the Property Is necessary, Borrower will promptly
take all necessary remedial actions in accordance with Environmantal Law. Nothing in this Security Instrument will create
any obligation on Lender for an Environmental Cleanup.

24. Electronic Note Slgned with Borrower’s Electronic Slgnature, If the Nofe evidencing the debt for Ihis Loan
is eleclronie, Borrower ackncwledges and represents to Lendar that Borrowaer: (a) expressly consented and intended to
sign tha electronic Note using an Electronic Signature adopted by Borrowar (“Borrower’s Electronie Signature’) Instead
of signing a paper Note with Borrawer's written pen and ink signature; (b} did not withdraw Borrower's express consent
to sign the electronic Note using Borrower's Elactronic Signature; (c) understood that by signing the electronic Note using
Borrower's Electronic Signature, Borrower promised to pay the debl svidenced by the electronic Note in accordance with
its tarms: and (d) signed the electrenic Note with Borrower's Electronie Signature with the intent and understanding that
by doing so, Borrower promised to pay the debt evidenced by the electronic Note in accordance with its terms.

25. Borrower Not Third-Party Beneficlary to Contract of Insurance. Mortgagea 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. Bor-
rowar acknowledges and agrees that the Borrower is nat a third party bensficiary to the contract of insurance between
he Secretary and Lander, nor is Borrower entitled to enforce any agreement batwaen Lender and the Sacretary, unless
explicitly authorized fo do so by Applicable Law.

NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:

26. Acceleration; Remedles.

{a) Notlce of Default. Lender will glve a notice of Default to Borrower prior to acceleration following Bor-
rower’s Default, except that such notice of Default will not be sent when Lender exerclses Its right under Sec-
tion 18 unless Applicable Law provides otherwise. The notice will specify, In additlon to any other Information
tequired by Applicable Law: (I) the Default; {Il) the actlon required to cure the Default; (11l) a date, not less than
30 days (or as otherwlse speclfied by Applicable Law) from the date the notlce Is glven to Borrower, by which
the Default must be cured; (lv) that fallure to cure the Default on or before the date specified In the notlce may
result In acceletation of the sums secured by this Security Instrument and sale of the Property; (v) Borrower’s
right to reinstate after acceleration; and (vi) Borrower's right to bring a court actlon to deny the exIstence of a
Defauit or to assert any other defense of Borrower to acceleratlon and sale.

(b) Acceleration; Power of Sale; Expenses. If the Defauit Is not cured on or before the date specified In the
natice, Lender may require Inmedlate payment In full of all sums secured by thls Securlty Instrument without
further demand and may Invoke the power of sale and any other remedles permitted by Applicable Law. Lender
wlill be entitled to coflect all expenses Incurred In pursulng the remedies provided In this Sectlon 26, In¢luding,
but not [Imited to: {I) reasonable attorneys' fees and/or trustees’ fees and costs and other fees and costs asso-
clated with the enforcement of this Securlty Instrument, [ncluding but not limited to, foreclosure trustee’s and
sherlfl's fees and costs, and title costs; (ll) property Inspectlon and valuation fees; and (Ill) other fees Incurred
unless prohibited by Appllcable Law for the purpose of protecting Lender’s Interest In the Property and/or rights
under this Security Instrument.

{c) Notlce of Sale; Sale of Property. If Lender Invokes the power of sale, Lender will execute or cause Trustee
to execute a wrlitteh hotlce of the accurrence of an event of Default and of Lender's electlon to cause the Prop-
erty to be sold and will cause such notice to be recarded In each county In which any part of the Property is
located. Lendet or Trustee will glve notice of sale In the manner prescribed by Applicable Law to Borrower and
to other required reclplents. At a tlme permitted by, and In accordance with, Applicable Law, Trustee, without
further demand on Barrower, will sell the Property at public auction to the highest bidder at the time and place
and under the terms deslgnated 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 previcusly scheduled sale. Lender or Its deslgnee may purchase the Property at any sale.

(d) Trustee’s Deed; Proceeds of Sale. Trustee wlil dellver to the purchaser a Trustee's deed conveying the
Property without any covenant or warranty, expressed or Implied. The recitals In the Trustee's deed will be prima
facle evidence of the truth of the statements made In that deed. Trustee will apply the proceeds of the sale In
the following order, or as otherwlse requlred by Applicable Law: {J) to all expenses of the sale, Including, but not
limited to, reasonable Trustee’s and reasonable attorneys' fees and costs; {Il) to all sums secured by this Security
Instrument; and (jil) any excess to the person or persons legally entitled to It.

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27. Reconveyance, Upon payment of ail sums secured by this Security Instrument, Lender will request Trustes
to reconvey the Property and will surrender this Security instrument and all Notes evidencing the debt secured by this
Security Instrumant to Trustes. Upon such request, Trustee will recorvey the Property without warranty to the person or
parsons legally entitled to it. Such person or parsons will pay any reccrdation costs associated with such reconveyance.
Lender may charge such parson or persens a fee for reconveying the Property, but only if the fea is paid to a third party
(such as the Trustee) for services rendered and the charging of the fee is permitted under Applicable Law.

28. Substitute Trustee. Lender may, from time to time, by ilself or through the Loan Servicer, or any other duly
appointad agent or nomines of Lander, remove Trustea and appoint a successor trustae to any Trustee appointed under
this Security Instrument. Without canveyance of the Property, the successor trustes will succeed to all the title, power,
and duties contarred upon Trustes In this Security Instrumant and by Applicable Law.

29. Attorneys’ and Others' Fees. Lender will be entitled to recover its reasonable attorneys’ andlor foreclosure
trustees fees and costs in any action or proceeding to canstrue or enforce any term of this Security Instrumant unless
prohibited or restrictad by Applicable Law. The term “atterneys' fees,” whenever used in this Security Instrument, Includes
without limitation attorneys’ fees incurred by Lender in any bankruptcy or appeliate proceeding.

30. Protective Advances. This Security Instrument secures any advances Lendar, at its discretion, may make under
Section 9 to protect Lender's intarest in the Property and rights under this Security Instrument.

31. Required Evidence of Property Insurance.

WARNING

Unless Borrowsr provides Landar with evidence of the insurance coverage as required by this contract
or loan agresment, Lender may purchase insurance at Borrower's expense to protect Lenders interast. This
insurance may, but need not, also protect Borrower's interest. If the collateral becomes damaged, the coverage
Lender purchases may nol pay any claim Borrowar makes or any claim made against Borrower. Borrower may
later cance! this coverage by providing evidence that Berrower has obtained property coverage elsewhere.

Borrower is responsible for the cost of any insurance purchased by Lender The cost of this insurance may be
added to this contract or Borrower's loan balance. If the costis added to this contract or Borrower's loan balance,
the interest rate an the underlying contract or lean will apply te this added amount, The effective date of covarage
may be the date Borrower's prior coverage lapsed or the date Borrower failed to provide proof of coverage.

The coverage Lender purchases may be considerably more expensive than insurance Barrower can cbtain
on their own and may not satisty any need for property damage coverage or any mandatory liability insurance
requirements imposed by Applicable Law.

BY SIGNING BELOW, Borrower accepls and agrees to the terms and covenants contained in this Security Instrument
and in any Ridar signed by Boerrower and recorded with it.

. Py v
S/ 4] 25 (Sea
T DATE

/‘2" 15-245 {Seal)
DATE

OREGON - Single Family — Fannie Mae/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3038 07/2021 (rev. 7/23)

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LOAN #: 1002074211

State of Oregon
County of KLAMATH

This record was acknowledged before me on _D,JZ/ ( ) % ,tlacz’).’f (date) by PAMELA JOY

JONES and DOUGLAS RAYMOND JONES.

OFFICIAL STAMP
VIVIAN MICHELLE GARCIA
NOTARY PUBLIC - OREGON NNCOMMISSION NO. 1054388 Notary Public, . 2
MY COMMISSION EXPIRES DECEMBER 22, 2028 State of }

Lender: New American Funding, LLC
NMLS ID: 6606

Broker:

NMLS ID: 6606

Loan Originator: Jennifer Nye
NMLS I1D: 2227723

OREGON - Single Family - Fannie Mae/Freddle Mac UNIFORM INSTRUMENT (MERS) Form 3038 07/2021 (rev. 7/23)
Moditied for FHA 1/2023 (HUD Handbook 4000.1)

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QOREDEED (CLS)

LOAN #: 1002074211
MIN: 1003763-0305060958-7

FHA Case No.
431-7924939-729

ADJUSTABLE RATE RIDER
(1 Year Treasury Index — Rate Caps)

THIS ADJUSTABLE RATE RIDER is made this 18th day of December, 2025,
and is incorporated into and amends and supplements the Mortgage, Mortgage Deed,
Deed of Trust, or Security Deed {the "Security Instrument”) of the same date given by the
undersigned (the “Barrower”) to secure Borrower’s Adjustable Rate Note {the “Note”) to
New American Funding, LLC, a Limited Liability Company

{the “Lender") of the same date and covering the property described in the Security

Instrument and located at:
3045 Madison St
Klamath Falls, OR 97603.

THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN
THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS
THE AMOUNT THE BORROWER’S ADJUSTABLE INTEREST RATE CAN
CHANGE AT ANY ONE TIME AND THE MINIMUM AND MAXIMUM RATES
THE BORROWER MUST PAY.

ADDITIONAL COVENANTS. in addition to the representations, warranties, cov-
enants, and agreements made in the Security Instrument, Borrower and Lender further
covenant and agree as follows:

A. INTEREST RATE AND MONTHLY PAYMENT CHANGES

The Note provides for monthly payments of interest and a portion of the principal
{"Monthly Payment”) and an initial interest rate of 5,625 %. The Naote provides tor
changes in the interest rate and the Monthly Payments as follows:

4. INTEREST RATE AND MONTHLY PAYMENT CHANGES

(A) Change Dates

The interest rate | will pay may change on the 1st day of April, 2031,
and on the 1st  day of the month every 12th  month thereafter. Each date on
which my interest rate could change is called a “Change Date.”

(B) The Index

Beginning with the first Change Date, my interest rate will be based on an
Index that is calculated and provided to the general public by an administrator (the

MULTISTATE ADJUSTABLE RATE RIDER - 1Year Treasury ~ Single Family

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“Administrator”). The “Index” is the weekly average yield on United States Treasury
securities adjusted to a constant maturity of one year. The Index is currently pub-
lished by the Federal Reserve Board. The most recent Index value available as of
the date 45 days before each Change Date is called the “Current Index,” provided
that if the Current Index is less than zero, then the Current Index will be deemed to
be zerg for purposes of calculating my interest rate.

If the Index is no longer available, it will be replaced in accordance with Section
4{G) below.

(C) Calculation of Changes

Before each Change Date, the Note Holder will calculate my new interest rate
by adding TWO percentage points ( 2.000 % )
(the “Margin”) to the Current Index. The Note Holder will then round the resuit of the
Margin plus the Current Index 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 Manthly Payment that
would be sufficient to repay the unpaid Principal that | am expected to owe at the
Change Date on the Maturity Date at my new interest rate in substantially equal pay-
ments. The result of this calculation will be the new amount of my Monthly Payment.

(D) Limits on Inierest Rate Changes

The interest rate | am required to pay at the first Change Date will not be greater
than 6.625% or less than 4.625 %. Thereafter, my interest rate will never be
increased or decreased on any single Change Date by more than

ONE percentage points { 1.000 % ) from the rate of
interest | have been paying for the preceding 12 months. My interest rate will
never be greater than FIVE percentage points

(5.000 % ) higher or lower than the initial interest rate stated in Paragraph 2 of
this Note.

(E) Effective Date of Changes

My new interest rate will become effective on each Change Date. | 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 interest
rate and the amount of my Monthly Payment before the effective date of any change.
The notice will include information required by law to be given to me and also the
titte and telephone number of a person who will answer any question | may have
regarding the notice.

(G) Replacement Index

The Index is deemed to be no longer available and will be replaced if any of
the following events (each, a “Replacement Event") occur: (i) the Administrator has
permanently or indefinitely stopped providing the Index fo the general public; (i) the
Administrator or its regulator issues an official public statement that the Index is no
longer reliable or representative; or (iti) the U.S. Department of Housing and Urban
Development (HUD) removes the Index as an approved index for adjustable rate
forward mortgages. If a Replacement Event accurs, the Lender will select a new index
(the “Replacement Index”), which must be one of the indices approved by HUD at

MULTISTATE ADJUSTABLE RATE RIDER - 1Year Treasury — Single Family

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the time of a Replacement Event. The Replacement Index, if any, will be operative
immediately upon a Replacement Event and will be used to determine the Borrower's
interest rate on Change Dates that are more than 25 days after a Repiacement
Event. The Index could be replaced more than once during the term of the Nate,
but only if another Replacement Event occurs. After a Replacement Event, all refer-
ences 1o the "Index” shall be deemed to be references to the “Replacement Index.

The Lender will also give the Borrower notice of the Replacement Index, if any,
and such other information required by applicable law and regulation.

B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER
Section 18 of the Security Instrument is amended to read as follows:

‘Transfer of the Property or a Beneficial Interest in Borrower. For the
purposes of this Section 18 only, “Inferest 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, instaliment sales
contract, or escrow agreement, the intent of which is the transfer of title by
Borrower to a purchaser at a future date.

I 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, Lender will not exercise this option if such exercise is
prohibited by Applicable Law. Lender also will 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 reason-
able fee as a condition to Lender's consent to the loan assumption. Lender
may also 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 this option to require immediate payment in full, Lender
will give Borrower notice of acceleration. The notice will 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 fo pay these sums prior to, or upan, the expiration
of this period, Lender may invoke any remedies permitted by this Security
Instrument without further notice or demand on Borrower and will be entitled
to collect all expenses incurred in pursuing such remedies, including, but not
limited ta: (a) reasonable attorneys' fees and costs; (b) property inspection
and valuation fees; and {c) other fees incurred to protect Lender's Interest in
the Property and/or rights under this Security Instrument.

MULTISTATE ADJUSTABLE RATE RIDER - 1Year Treasury — Single Family

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LOAN #: 1002074211
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants
contained in this Adjustable Rate Rider.

/315 / g (sean
PAMELA JOY JONES T4 DATE

[2-1%-25 (sea)
DATE

MULTISTATE ADJUSTABLE RATE RIDER - 1 Year Treasury ~ Single Family

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LOAN #: 1002074211
FHA Case No.: 431-7924939-729
MIN: 1003763-0305060958-7
MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. RIDER
(MERS Rider)

THIS MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. RIDER
{"MERS Rider") is made this 18th day of December, 2025 and is incorporated
into and amends and supplements the Deed of Trust or Mortgage Deed {the “Security
Instrument’) of the same date given by the undersigned (the “Borrower,” whether there
are one or more persons undersigned) to secure Borrower's Note to
New American Funding, LLC, a Limited Liability Company

{"Lender”) of the same date and covering the Property described in the Security Instru-
ment, which is located at:
3045 Madison St, Klamath Falls, OR 97603.

In addition to the representations, warranties, covenants, and agreements made in the
Security Instrument, Borrower and Lender further covenant and agree that the Security
Instrument is amended as follows:

A. DEFINITIONS
1. The DEFINITIONS section of the Security Instrument is amended as follows:
“Lender” is New American Funding, LLC.

Lenderis aLimited Liability Company organized and existing
under the laws of Delaware, Lender's address is
14511 Myford Road, Suite 100, Tustin, CA 92780.

Lenderis the beneficiary under this Security Instrument. The term “Lender” includes
any successors and assigns of Lender.

“MERS” is Mortgage Electronic Registration Systems, Inc. MERS is a separate
corporation that is the Nominee for Lender and is acting solely for Lender. MERS
is organized and existing under the laws of Delaware, and has an address and
telephone number of P.O. Box 2026, Flint, Ml 48501-2026, tel. (888) 679-MERS.
MERS is appointed as the Nominee for Lender to exercise the rights, duties and
obligations of Lender as Lender may from time to time direct, including but not limited
to appointing a successor trustee, assigning, or releasing, in whole or in part this
Security Instrument, foreclosing or directing Trustee to institute foreclosure of this
Security Instrument, or taking such other actions as Lender may deem necessary or
appropriate under this Security Instrument. The term “MERS” includes any succes-
sors and assigns of MERS, This appointment will inure t0 and bind MERS, its suc-
cessors and assigns, as well as Lender, until MERS' Nominee interest is terminated.

2. The DEFINITIONS section of the Security Instrument is further amended to add
the following definition:

“Nominee” means one designated to act for ancther as its representative fora
limited purpose.

MERS RIDER - Single Family - Fannla Mae/Freddle Mac UNIFORM INSTRUMENT Form 3158  07/2021 (rev. 11423)
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B. TRANSFER OF RIGHTS INTHE PROPERTY
The TRANSFER OF RIGHTS IN THE PROPERTY section of the Security Instru-
ment is amended to read as follows:

This Security Instrument secures to Lender (i) the repayment of the Loan, and
all renewals, exiensions, and modifications of the Note, and (i) 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 Klamath

SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART
HEREOF AS "EXHIBIT A™,
APN #: 558960

which currently has the address of 3045 Madison St, Klamath
Falls, [Streef] [City]

OR 97603 {"Property Address”);
[State] [Zip Code]

TOGETHER WITH all the improvements now or subsequently erected on the
property, including replacements and additions to the improvements on such prop-
erty, all property rights, including, without limitation, all easements, appurtenances,
royalties, mineral rights, oil or gas rights or profits, water rights, and fixtures now or
subsequently a part of the property. All of the foregoing is referred to in this Security
Instrument as the “Property”

Lender, as the beneficiary under this Security Instrument, designates MERS as
the Nominee for Lender. Any notice required by Applicable Law or this Security Instru-
ment to be served on Lender must be served on MERS as the designated Nominge
for Lender. Borrower understands and agrees that MERS, as the designated Nomi-
nee for Lender, has the right to exercise any or all interests granted by Borrower
to Lender, including, but not limited to, the right to foreclose and sell the Property;
and {o take any action required of Lender including, but not limited 16, assign-
ing and releasing this Security Instrument, and substituting a successor trustee.

C. NOTICES; BORROWER'S PHYSICAL ADDRESS
Section 15 of the Security Instrument is amended to read as follows:
15.Notices; Borrower’s Physical Address. All notices given by Borrower or
Lender in cannection with this Security Instrument must be in writing.
(a) Notices to Borrower. Unless Applicable Law requires a different method,
any written notice t0 Borrower in connection with this Security Instrument will be
deemed to have been given to Borrower when (i) mailed by first class mail, or

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(i) actually delivered to Borrower's Notice Address {as defined in Section 15(c)
below) if sent by means other than first class mail or Electronic Communication (as
defined in Section 15(b) below). Notice to any one Borrower will constitute notice to
all Borrowers unless Applicable Law expressly requires otherwise. If any notice 0
Borrower required by this Security Instrument is also required under Applicable Law,
the Applicable Law requirement will satisfy the corresponding requirement under
this Security Instrument.

(b) Electronic Notice to Borrower. Unless another delivery method is required
by Applicable Law, Lender may provide notice to Borrower by e-mail or other elec-
tronic communication (“Electronic Communication”) if: () agreed to by Lender and
Borrower in writing; (i) Borrower has provided Lender with Borrower’s e-mail or other
electronic address ("Electronic Address”); (iii) Lender provides Borrower with the
option to receive notices by first class mail or by other non-Electronic Communication
instead of by Electronic Communication; and (iv) Lender otherwise complies with
Applicable Law. Any notice to Borrower sent by Electronic Communication in con-
nection with this Security Instrument will be deemed to have been given to Borrower
when sent unless Lender becomes aware that such notice is not delivered. If Lender
becomes aware that any notice sent by Electronic Communication is not delivered,
Lender will resend such communication to Borrower by first class mail or by other
non-Electronic Communication. Borrower may withdraw the agreement to receive
Electronic Communications from Lender at any time by providing writien notice to
Lender of Barrower's withdrawal of such agreement.

(c) Borrower’s Notice Address. The address to which Lender will send Bor-
rower notice {"Notice Address™) will be the Property Address unless Borrower has
designated a different address by written natice to Lender. If Lender and Borrower
have agreed that notice may be given by Electronic Communication, then Borrower
may designate an Electronic Address as Notice Address. Borrower will promptly
notify Lender of Barrower’s change of Notice Address, including any changes to
Borrower's Electronic Address if designated as Notice Address. If Lender specifies
a procedure for reporting Borrower's change of Notice Address, then Borrower will
report a change of Notice Address only through that specified procedure.

(d) Notices to Lender. Any notice to Lender will be given by delivering it or by mail-
ing it by first class mall to Lender's address stated in this Security Instrument unless
Lender has designated another address {including an Electronic Address) by notice to
Borrower. Any notice in connection with this Security Instrument will be deemed to have
been given t0 Lender only when actually received by Lender at Lender's designated
address (which may include an Electronic Address). |f any notice to Lender required
by this Security Instrument is also required under Applicable Law, the Applicable Law
requirement will satisfy the corresponding requirement under this Security Instrument.

Borrower acknowledges that any notice Borrawer provides to Lender must also
be provided to MERS as Nominee for Lender until MERS' Nominee interest is termi-
nated. Any notice provided by Borrower in connection with this Security Instrument
will be deemed to have been given to MERS only when actually received by MERS,

{e) Borrower’s Physical Address. In addition to the designated Notice Address,
Borrower will provide Lender with the address where Borrower physically resides, if
different from the Praperty Address, and notify Lender whenever this address changes.

. SALE OF NOTE
Section 20 of the Security Instrument is amended to read as follows:

20.Sale of Note. The Note or a partial interest in the Note, together with this
Security Instrument, may be sold or otherwise transferred one or more times. Upon
such a sale or other transfer, all of Lender’s rights and obligations under this Security

MERS RIDER - Single Family — Fannle Mae/Freddle Mac UNIFORM INSTRUMENT Form 3158  07/2021 (rev. 11/23)
Modifled for FHA 1/2023
ICE Mortgage Technology, Inc. Page 3ofd FHA23MRSRDU 1223

GEFHAMERSRL (CLS)

LOAN #: 1002074211
Instrument will convey to Lender’s successors and assigns. Lender acknowledges
that until it directs MERS to assign MERS's Nominee interest in this Security Instru-
ment, MERS remains the Nominee for Lender, with the authority to exercise the
rights of Lender.

E. SUBSTITUTE TRUSTEE
Section 28 of the Security Instrument is amended to read as follows:
28.Substitute Trustee. In accordance with Applicable Law, Lender or MERS
may from time to time appoint a successor trustee to any Trustee appointed here-
under who has ceased to act. Without conveyance of the Property, the successor
trustee will succeed to all the title, power, and duties conferred upon Trusiee and
by Applicable Law.

BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants
contained in this MERS Rider.

[ /15 ] Ak (seal)
¥ I DATE

|2-19-25  (seal

DATE

MERS RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3158 07/2021 (rev. 11/23)

Modified for FHA 1/2023

ICE Mortgage Technology, inc. Page 4 of 4 FHA23MRSRDU 1223
GEFHAMERSRL {CLS)

EXHIBIT “A”
LEGAL DESCRIPTION

Lot 3 of VALLEY VIEW, according to the official plat thereof on file in the office of the County Clerk of
Klamath County, Oregon.

25008444