N .o 2026-003199 Amer?i?e ' . Klamath County, Oregon - 04/13/2026 08:30:02 AM ,O(.? QO ‘ \ Fee: $212.00 Requested by & Return to: ServiceLink 1355 Cherrington Pkwy Moon Twp, PA 15108 (888)337-6888 Until a change is requested all tax statements shall be sent to the following address: LOANDEPOT.COM, LLC ATTN: SERVICING PO BOX 9223 COPPELL, TX 75019-9278 Consideration: $118, 006.00 Grantor(s): Teustee [’ o 4 . Fug C(, 3 SANDRA E. CREASEY, UNMARRIED 2826 RECLAMATION AVE Frdelily Nationet TeHe Tasvrance Co. KLAMATH FALLS, OR 97603 1200 .Concord Ave . Sovde J29 Grantee: ] Cor\crrA7 A QdCLe LOANDEPOT .COM, LLC 6563 IRVINE CENTER DRIVE IRVINE, CA 92618 iSpace Above This Line For Recording Dataj DEED OF TRUST LuvoS 988192 Mortgage Electronic Registration Systems, Inc. CREASEY is the Nominee of Lender Loan#: 105900719 PO Box 2026 MIN: 10085370105¢007194 Flint, M1 48501-2026 MERS Phone: 1-888-679-6377 PIN: 443737 DEFINITIONS Words used in muitiple sections of this document are defined below and other words are defined under the caption TRANSFER OF RIGHTS IN THE PROPERTY and in Sections 3, 4, 10, 11, 12, 16, 19, 24, and 25. Certain rules regarding the usage of words used in this document are also provided in Section 17. Parties {A) "Borrower’ is SANDRA E. CREASEY, UNMARRIED, currently residing at 2826 RECLAMATION AVE, KLAMATH FALLS, OR 97603. Borrower is the granlor under this Security Instrument. (B) ""Lender" is LOANDEPOT . COM, LLC. Lender is a LIMITED LIABILITY COMPANY organized and existing under the laws of DE. Lender's address is 6561 IRVINE CENTER DRIVE, IRVINE, CA 92618. Lender is the beneficiary under this Security Instrument. The term "Lender” includes any successors OREGON--Single Family--F ‘mmc Miae/Freddie Mac UNIFORM INSTRUMENT Form 3638 07/2021 Exl 25316.9 Page 1 of 20 JHl 'Illill?lilliilliliHi’iii”&il!lilil Jilil - 25316-1-20-105%02719 10590071¢% and assigns of Lender. (C) "Trustee" is FIDELITY NATIONAL TITLE INSURANCE COMPANY. Trustee's address is 1200 CONCORD AVE. SUITE. 120, CONCORD, CA 94526, The term "Trustee" includes any substitute/successor Trustee. (D) "MERS" is the Mortgage Electronic Registration Systems, Inc. Lender has appointed MERS as the nominee for Lender for this Loan, and attached'a MERS Rider to this Security Instrument, to be executed by Borrower, which further describes the relationship between Lender and MERS, and which is incorporated into and amends and supplements this Security Instrument: Documents (E) "Note" means the promissory note daied APRIL 4, 2026, and signed by each Borrower who is legally obligated for the debt under that promissory note, that is in either (i) paper form, using Borrower's written pen and ink signature, or (ii) electronic form, using Borrower's adopted Electronic Signature in accordance with the UETA or E-SIGN, as applicable. The Note evidences the legal obligation of each Borrower who signed the Note to pay Lender ONE HUNDRED EIGHTEEN THOUSAND AND 00/100 Dollars (U.S. $118, 000. 00) plus interest. Each Borrower who signed the Note has promised to pay this debt in regular monthly payments and to pay the debt in full not later than MAY 1, 2056. (F) "Riders" means all Riders to this Security Instruinent that are signed by Borrower. All such Rlders are incorporated into and deemed to be a part of this Security Instrument. The following Riders are to be signed by Borrower [check box as applicable]: (J Adjustable Rate Rider 2 Condominium Rider CIMERS Rider (] 1-4 Family Rider [1 Planned Unit Development Rider {1 Other(s) {specify] (J Second Home Rider ‘ (G) "Security Instrunient” means, this. document, whlch is dated APRIL 4, 20286, together with all Riders to this document. Additional Definiticns v (H) "Applicable Law" means all conhollma apnl.cable federal, state, and local statutes, regulations, ordinances, and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealablé judicial opinions. (D) "Community Association Dues, Fees, aind Assessments'' means all dues, fees, assessments, and other charges that are imposed on Borrower or the Pxoperty by a condominium association, homeowners association, or similar organization. : (J) "Default'" means: (i) the failure to pay an) Perlodlc Paymbnt or any other amount secured by this Security Instrument on the date it is due; (ii) a breach of any representation, warranty, covenant, obligation, or agreement in this Security Instrument; (iii) any materially false, misleading, or inaccurate information or statement to Lender provided by Borrower or.aiy persons or.entities acting at Borrower's direction or with Borrower's knowledge or consent, or failure to prov1de Lender with material information in connection with the Loan, as described in Section 8; or (iv) any action or proceeding described in Section 12(e). (K) "Electronic Fund Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is inijtiated. through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an OREGON--Single Family--Fannie Mae/Freddiec Mac UNIFORM INSTRUMENT Form 3038 07/2021 EXl 25316.9 Page 2 of 20 i ) illllilil!‘litllilllliiiI HiLiIA 316-2-20-1089007 g TR g i T 105900719 account. Such term includes, but is not {irmited to,.poini-ci-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) "Electronic Signature" means an "Electronic Signature” as defined in the UETA or E-SIGN, as applicable. (M) "E-SIGN" means the Electronic Signatures in Global and-National Commerce Act (15 U.S.C. § 7001 et seq.), as it may be amended from time to time, or any apphcable additional or successor legislation that governs the same subject matter. (N) "Escrow Items™ means: (i) taxes and assessments-and other items that can attain priority over this Security Instrument as a lien or encutbrance oa the Property; (ii) leasehold payments or ground rents on the Property, if any; (iii) premiums for any and all insurance required by Lender under Section 5; (iv) Mortgage Insurance premiums, if any, or any sums payablc by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 11; and (v) Community Association Dues, Fees, and Assessments if Lender reqalres rhat tha,y br= Escrow ed begmmng at Loan closing or at any time during the Loan term. - - (O) "Loan" meaus the debt obligation @v1denwd by thg Nufe plus interest, any prepayment charges, costs, expenses, and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (P) "Loan Servicer' ineans the entity that has the contractuai right to receive Borrower's Periodic Payments and any other paymeits made by Borrower, and administers the Loan on behalf of Lender. Loan Servicer does not include a sub-servicer, which is an entity that may service the Loan on behalf of the Loan Servicer. (Q) "Miscellaneous Proceeds' means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; {iii) conveyance in fieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (R) "Mortgage [nsurame" means maur'mce proteumg Lender against the nonpayment of, or Default on, the Loan. (S) "Partiai Payment" maans any payment by Borrower., other than a voluntary prepayment permitted under the Note, which is less than a fuil outstanding Periodic Payment. (T) "Periodic Payment" means the regularly scheduled amount due for ( D] principal and interest under the Note, plus (ii) any amounts under Section 3. (U) "Property" means the proper*y described beiow under thc hf:admU "TRANSFER OF RIGHTS IN THE PROPERTY." (V) "Rents' means all amounts received by or du¢ Borrowu in connectmn with the lease, use, and/or occupancy of the Property by & party other than Borrowe’ ' (W) "RESPA" means the Real Estate Settlement: Proc»dure: ‘Act (12 U.S.C. § 2601 et seq.) and its implementing regulation, Regufation X (12 C.F. R. Part 1024), as th°y may be amended from time to time, or any additional or successor federal legislation or revulatloin that governs the same subject matter. When used in this Security Instrument, "RESPA" refers to ‘all requirements and restrictions that would apply to a "federally related mortgage loan" even 1f the Loan does np* quallfy asa "federally related mortgage loan" under RESPA. ' T e (X) "Successor in Interest of Borrower" means anv party that has taken title to the Property, whether or not that party has assumed Borrower's obhgatlons under the Note and/or this Security instrument. (Y) "UETA" means the Umform Electronlc '[ransactlons Act as enacted by the jurisdictior in which the OREGON--Single Family--Fannie Mae/Fr cddle Mac UNIFORM ENSTRUMENT Form 3038 07/2021 EH 25316.9 Page 3 of 20 A o31b 3 20 1056300719 105900719 TP Property is located, as it may be amended {om ime to time, or any applicable additional or successor legislation that governs the same subject ratier. o TRANSFER OF RIGHTS iN THE PROPERTY This Security Instrument secures to Lender (i) the.repayment of the.Loan, and all renewals, extensions, and modifications of the Note, and (ii) 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 ATTACHED LEGAL DESCRIPTION , EXHIB,IT A which currently has the address of 2826 RECLAMATION AVE, KLAMATH FALLS, Oregon 97603 ("Property Address"); TOGETHER WITH all the improvemenis now or subsequently erected on the property, including replacements and additions to the improvements on such property, 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.” - BORROWER REPRESENTS, WARRANTS, COVENANTS, AND AGREES that: (i) Borrower lawfully owns and possesses the Property conveyed in this Security Instrument in fee simple or lawfully has the right to use and occupy the Property under a leaschold estate; (ii) Borrower has the right to grant and. convey the Property or Borrower's leasehold interest in the Property; and (iii) the Property is unencumbered, and not subject to any other ownership interest in the Property, except for encumbrances and ownership interests of record. Borrower wairants generally the title to the Property and covenants and agrees to defend the title to the Property against all claims:and demvahds, subjeci:to any eneumbrances and ownership interests of record as of Loar closing. T THIS SECURITY INSTRUMENT combines uniform covenants for national use with limited variations and non-uniform covenants that reflect spec1?c (”r“gon state requirements to constitute a uniform security instrument covermg real property. . < 4 UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: i. Payment of Principal, Interest, Escrow fiems, Prepayment Charges, and Late Charges. Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due undetthis Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received 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 Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (@) cash; (b) money order; (c) certified check, bank check, treasurer's check, or cashier's cheek, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordahce with the notice provisions in Section 16. ORFGON—-Sll}ole Family--Fannie Mae/Freddie Mac UNIF ORl\'I INSTRUMENT Form 3038 07/2021 EX 25316.9 Page 4 of 20 A 25316-4-20- 105 900719 gy g e o T gt 105900719 Lender may accept or retum any Parial Paynients in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender 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 agreements secured by this*Security Instrument. 2. Acceptance and Application of Payments of Proceeds. (a) Acceptance and Application of Partial Payments. Lender may accept and either apply or hold in suspense Partial Payments 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 also is not obligated to pay interest on such unapphed funds. Lender may hold such unapplied funds until Borrower makes payment sutficient to cover a full Periodic Payinent, at which time the amount of the full Periodic Payment will be applied to ihe Loan. If Borr ower does 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 them to Borrower. If not applied earlier, Partial Payments will be credited against the total amount due under the Loan in calculating the amount due in connection with-any foreclosure proceeding, payoff request, loan modification, or reinstatement. Lender may accept any pavment insufficient to bring the Loan current without waiver of any rights under this Security Instrument-or prejudice to its rights to refuse such payments in the future. (b) Order of Application of Partial Payments and Periodic Payments. Except as otherwise described in this Section 2, if Lender applies a payment, such payment will be applied to each Periodic Payment in the order in which it became due, beginning with the oldest outstanding Periodic Payment, as follows: first to interest and then to principal due under the Note, and finally to Escrow Items. If all outstanding Periodic Payments then due are paid in full, any payment amounts remaining may be applied to late charges and to any amounts then due under this Security Instrament. It all sums then due under the Note and this Security Instrument are paid in full, any remaining payment amount may be applied, in Lender's sole discretion, to a future Periodic Payment or to reduce the principal balance of the Note. If Lender receives a payrent from Borrower in the‘amount of one or more Periedic Payments and the amount of any late charge due for a.delinquent Periodic Payment the payment may be applied to the delinquent payment and the late charge. When 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 Change to Payment Scheduie. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under. the’ Note will not extend or postpone the due date, or change the amount, of the Periodic Payments. : 3. Funds for Escrow ltems. o ‘ . (a) Escrow Requirement; Escrow Items. Borrower must pay to Lender on the day Periodic Payments are due 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 ambount of ithe Funds required to be paid each month may change during the term of the Loan. BorrowL,i must promptly tum(sh to Lender all notices or invoices of amounts to be paid under this Section 3. (b) Payment of Funds; Waiver. Borrower must pay Lender the Funds for Escrow Items unless Lender waives this obligation in writing. Lender may waive this obligation for any Escrow Item at any time. In the event of such waiver, Borrower muyst pay directly, when and where payable, the amounts due for any Escrow Items subject to the waiver. If Lender has waived the requirement to pay Lender the Funds for any or all Escrow ltems, Lender may require Borrowe1 to. prpwde proof of direct payment of those items within OREGON--Single Family--Fannie Mae/k reddie Mac bNIF ORM INSTRUMENT Form 3038 07/2021 B8 25316.9 Page 5 of 20 R 5318-5-20-105900719 o e . e S 105900719 such time period as Lender may require. Borrower's obligaiion i make such timely payments and to provide proof of paymeit is deemed to be a covenant and agreement of Borrower under this Security Instrument. If Borrower is obligated to pay Escrow ltems directly pursuant to a waiver, and Borrower fails to pay timely the amount due for an Escrow Item, L.ender may exercise its rights under Section 9 to pay such amount and Borrower will be obligated to repay to Lender any such amount in accordance with Section 9. Lender may withdraw the waiver as to any or all Escrow Items at any time by giving a notice in accordance with Section 16; upon such withdrawal, Borrower must pay to Lender all Funds for such Escrow Items, and in such amounts, that are then requrred under this Section 3. (cj) Amount of Funds; Applncatron of Funds. Lender may, at any time, collect and hold Funds in an amount up to, but not in excess of, the maximum amouat a lender can require under RESPA. Lender will estimate the amount of Funds due in accordance with Applicable L. aw, The Funds will be held in an institution whose deposits are insured by a U.S. federal 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 Items no later than the time specified under RESPA. Lender may not charge Borrower for: (i) holding and applying the Funds; (ii) annually analyzing the escrow account; or (i) verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless Lender and Borrower agree in writing or Applicabie Law requires interest to be paid on the Funds, Lender will not be required to pay Borrower any interest or earnings on the Funds. Lender will give to.Borrower, without charge, an annual accounting of the Funds as required by RESPA. (d) Surpius; Shortage and Deficiency of Funds. In accordance with RESPA, if there is a surplus of Funds held in escrow, Lender will account te Borrower tor such surplus. If Borrower's Periodic Payment is delinquent by more than 30 days, Lender may retain the surplus in the escrow account for the payment of the Escrow Items. If there is a shortage or deficiency of Funds held in escrow, Lender will notify Borrower and Borrower will pay to Lender the amount necessary to make up the shortage or deficiency in accordance with RESPA. - T TSRO - : . Upon payment in full of all sums secured by thla S»-Lurrty Instrument, Lender will promptly refund to Borrower any Funds held by Lender. - 4. Charges; Liens. Borrower must pay (u) all taxes, assessments, charges, fines, and impositions attributable to the Property which have priority of may- attain priority over this Security Instrument, (b) leasehold payments or ground rents on the Property, if any. and (¢) Community Association Dues, Fees, and: Assessments, if any. If any of these items are. Escrow Items, Borrower willt pay them in the manner provided in Section 3. Borrower must promptly discharge any lien that has priority or may attain priority over this Security Instrument unless Borrower: (aa) agrees in writing to the paynient of the obligation secured by the lien in a manner acceptable to Lender, but.only. so long as Borrower is-performing under such agreement; (bb) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which Lender determines, in its sole discretion, operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (cc) secures from the holder of the lien an agreement satisfactory to Lender that subordinates the lien to this Security Instrument (collectively, the "Required Actions™). If Lender determines. that any part of the Property is subject to a lien that has priority or may attain nrrorrty over this Security Instrument and Borrower has not taken any of the Required Actions 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; Boirower must satisfy the lien or take one or more of the Required Actions. OREGON--Single Family--Fannie Mae/Freddie '.MaevUN IFORM INSTRUMENT Form 3038 07/2021 25316.9 Page 6 of 20 NS 316-6-20-105900718 Ry W,"_‘.*;i«; b 1059200715% 5. Property Insurance. (a) Ensurance Requirement; Coverages. Borrewer must keep the improvements now existing or subsequently erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not Tirnited to, earthquakes, winds, and floods, for which Lender requires insurance. Borrower must maintain 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 preceding sentences can change during the term of the [.oan, and may exceed any minimum coverage required by Applicable Law. Borrower may choose Thf' insurance carrier providing the insurance, subject to Lender's right to disapprove Borrower's choice, which ught will not be exercised unreasonably. (b) Failure to Maintain Insurance. If Lender has a reasonable basis to believe that Borrower has failed to maintain any of the required i insurance coverages described above, Lender may obtain insurance coverage, at Lender's option and at Borrower's expense. Unless required by Applicable Law, Lender is under no obligation to advance premiums tfor, or to.seek to reinstate, any prior lapsed coverage obtained by Borrower. Lender is under no obligation to purchase any particular type or amount of coverage and may select the provider of such insurance in its sole discretion. Before purchasing such coverage, Lender will notify Borrower if required to do so under Applicable Law. Any such coverage will insure Lender, but might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard, or liability and might provide greater or lesser coverage than was previously in effect, but not exceeding the coverage required under Section, 5(a). Borrower acknowledges that the cost of the insurance coverage so obtained may significantly exceed the cost of insurance that Borrower could have obtained. Any. amounts disbursed by Lender for costs associated with reinsiating Borrower's insurance policy or with placing new insurance under this Section 5 will become additional debt of Borrower secured by. this Security -Instrument. These amounts will bear interest at the Note rate from the date of disbursement and will be payable, with such interest, upon notice from Lender to Borrower requesting payment. (¢) Insurance Policies. All insurance policies required by Lender and renewals of such policies: (i) will be subject.to Lender's right to disapprove such policies; (ii) must include a standard mortgage clause; and (iif) must name Lender as mortgagee and/or.as an additional loss payee. Lender will have the right to hold the pohcms and renewal certificates. 1f Lender requircs, Borrower will promptly give to Lender proof of paid premiums and renewal notices. If Borrower obtalns any.form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy must include a standard mortgage clause and must name. Lender as mortcdgee and/or as an additional loss payee. (d) Proof of Loss; Application of Proceeds. In the event of loss, Borrower must give prompt notice to the insurance carrier and Lender..Lender may make proof of loss if not made promptly by Borrower. Auny insurance proceeds, whether or not the underlying insurance was required by Lender, will be applied to restoration or repair of the Property, if Lender deems the restoration or repair to be economically feasible and determines that Lender's security will not be lessened by such restoration or repair. If the Property is to be repaired or restored, Lender will disburse from the insurance proceeds any initial amounts that are necessary to begin the I'LpaH‘ or restoration, subject to any restrictions applicable to Lender. During the subsequent repair and restoration period, Lender will have the right to hold such insurance proceeds until Lender has had au opportunity to inspect such Propelty to ensure the work has been completed to Lender's satisfaction (which may include satisfying Lender's minimum eligibility requirements for persons repairing the Property, including, but not limited to, hcensmg,, bond, and insurance requirements) provided that such inspection must be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or.in a series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement and whether Borrower is in Default OREGON--Singie Family--Faznie Mae/F reddl? Mm UNIFORI\’I INSTRUMENT Form 3638 07/2021 B& 25316.9 Page 7 of 20 AR lilli!II! i 25316-7-20-105900719 - el g St S 105900719 on the Loan. Lender may make such disbursernicnts directly i Borrower, to the person repairing or restoring the Property, or payable jointly to both. Lender will 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 adjusters, or other third parties, reiained by Borrower will not be paid out of the insurance proceeds and will be the sole obhgatlon of Borrower. If Lender deems the restoration or repair not to be economlcally feasible or Lender's security would be lessened by such restoration or repair, the insurance proceeds will be applied to the sums secured by this Security Instrument, wlether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds will be applied in the order that Partial Payments are applied in Section 2(b). (e) Insurance Settlements; Ass1gnmellt of Prou:eds 1f Borrower abandons the Property, Lender may file, negotiate, and settle any available insurancé claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the ciaim. 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, Borrower is unconditionally assigning to Lender (i) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note and this Security Instrument, and (ii) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under ali insurance policies covering the Property, to the exient that such rights are applicable to the coverage of the Property. If Lender files, negotiates, or settles a claim, Borrower agrees that any insurance proceeds may be made payable directly to Lender without the need to include Borrower as an additional loss payee. Lender may use the insurance proceeds either to repair or restore the Property (as provided in Section 5(d)) or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower 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 occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent will not be unreasonably withheld, or unless extenuating circumstances exist that are beyond Borrower's control. . 7. Preservation, Maintenance, and Protectlon of the Property; Inspections. Borrower will not destroy, damage, or impair the Property, allow the Property-to deteriorate, or commit waste on the Property. Whether or not Borrower is residing in thie Property; Borrower imust maintain the Property in order to prevent the Property from deteriorating or-decreasing in value due to its condition. Unless Lender determines pursuant to Section 5 that repair or restoration is not economically feasible, Borrower will promptly repair the Property if damaged to avoid further deterioration or damage, If insurance or condemnation proceeds are paid to Lendet in cennection with damage to, or the taking of, the Property, Borrower wiil be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a smgle payment or in a series of progress pavments as tha work is completed, dependlng on the size of the repair or restoration, the terms of the repair agreement and whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower; to the person repairing or restoring the Property, or payable jointly to both. If the insurance or condcmnatlon proceeds are not sufficient to repair or restore the Property, Borrower remains obligated to complcte such Fepair or restoration. Lender may make reasonable entries upon and irispections of the Property. If Lender has reasonable cause, Lender may inspect the interior of the improvements$ on the Property. Lender will give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower will be in Default if, during the Loan application OREGON--Single Family--Fanniec Mae/Freddie Mac UNIFORM INSTRUMENT Form 3038 07/2021 25316.9 Page 8 of 20 AR 25315-8-20-105200712 A [PV VTN 1055800719 process, Borrower or any persciis or entities acting at Borcower's direction or with Borrower's knowledge or consent gave materially false, misleading, or inaccurats information or statements to Lender (or failed to provide Lender with material information) in conncgtion with the Loan, including, but not limited to, overstating Borrower's income or assets, understating or failing to provide documentation of Borrower's debt obligations and liabilities, and misrepresenting Borrower's occupancy or intended occupancy of the Property as Borrower's principal residence. L 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. (a) Protection of Lender's Interest. If: (i) Borrower fails to perform the covenants and agreements contained in this Security Instrument; (ii) there.is a legal proceeding or government order that might significantly affect Lender's interest.in the Property.and/or rights under this Security Instrument (such as a proceeding in bankruptey, probate, for condemnation or forfeiture, for enforcement of a lien that has priority or may attain priority over this Security Instrument, or-to enforce laws or regulations); or (iii) Lender reasonably believes that Borrower has abandoned the Property, ther: Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and/or rights under this Securlty 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 to: (I paying any sums secured by a lien that has priority or may attain priority over this Security Instrument; (11} appearing in court; and (111) paying: (A) reasonable attorneys' fees and costs; (B) property inspection and valuation fees; and (C) other fees incurred for the purpose of protecting Lender's interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, exterior and interior inspections of the Property, entering the Property to make repairs, changing locks, replacing or boarding up doors and windows, draining water from pipes, eliminating building or other code violations or dangerous conditions, and having utilities turned on or off. Although Lender may take action under this Section 9, Lender is not required to do so and is not under any duty or cbligation to do so. Lender will not be liable for not taking any or all actions autherized under this Section 9. (b) Avoiding Foreciosure; Mitigating Losses, if Borrower is in Default, Lender may work with Borrower to avoid foreclosure and/or mitigate Lender's potential losses, but is not obligated to do so unless required by Applicable Law. Lender may take reasonable actions to evaluate Borrower for available alternatives to foreclosure, including, but not hmlted toy obtammv credit, reports, title reports, title insurance, property valuations, subordination agreements, and. third-party approvals. Borrower authorizes and consents to these actions. Any costs associated with such loss mitigation activities may be paid by Lender and recovered from Borrower as described below in Section 9(c}), unless prohibited by Applicable Law. (c) Additional Amounts Secured. Any amounts disbursed by Lender under this Section 9 will become additional debt of Borrower secur: ed by this Secunty Instrument, These amounts may bear interest at the Note rate from the date of disbursement and w111 be pay able, with such interest, upon notice from Lender to Borrower requesting payment. ‘ {d) Leasehold Terms. If this. Securrty Instr ument is on a leasehold, Borrower will comply with all the provisions of the lease. Borrower will not surrender the leasehold estate and interests conveyed or. terminate or cancel the ground lease. Borrower will not, without the express written consent of Lender, alter or amend the ground lease. If Borrower acqurres fee thle to the Property, the leasehold and the fee title will not merge unless Lender agrees to the merger in wr_ltlng 10. Assignment of Rents. (a) Assignment of Rents. If the Property is leased to; used by or occupied by a third party ("Tenant"), Borrower is unconditionally assigning and transferring to Lender any Rents, regardless of to whom the Rents are payable Borrower authorizes Lender to collect'the Rents, and agrees that each Tenant OREGON--Single Family-- Fanme Mae/Freddie Mac UVIFORM INSTRUMENT Form 3038 07/2021 253169 } Page 9 of 20 A ' 25316-9-20-105900716 G s I L 105900719 will pay the Rents to Lender. However, Gorrower will receive the Rents until (i) Lender has given Borrower notice of Default pursuant to Section 26, and Gt ) Lender has given notice to the Tenant that the Rents are to be paid to Lender. This Section 10 constitutes an ahsolute assugmnent and not an assignment for additional security only. (b) Notice of Default If Lender gives notice of Dcfault to Borrower: (i) all Rents received by Borrower must be held by Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by the Security Instrument; (ii) Lender will be ent*t;ed ta collect and receive all of the Rents; (iii) Borrower agrees to instruct each Tenant that Tenant is te pay all Rents due and unpaid to Lender upon Lender's written demand to the Terant; ( 1V) Borrower will ensure that each Tenant pays all Rents due to Lender and will take whatever action is necessary to collect such Rents if not paid to Lender; (v) unless Applicable Law provrdes otherwise, all Rents collected by Lender will be applied first to the costs of taking control of and managing the Property and collectm;, the Rents, 1nclud1ng, but not limited to, reasonable attorneys' fees and costs, receiver's fees, premiums ‘on receivei's bonds, repair and maintenance costs, insurance premiums, taxes, assessments, and other' chaiges on the Property, and then to any other sums secured by this Security Instrument; (v l) Lender, or any judicially appointed receiver, will be liable to account for only those Rents actually received; and (vii) Lender wiil be entitled to have a receiver appointed to take possession of and manage the Property and collect the Rents and profits derlved from the Property _ without any showing as to the inadequacy of the Property as security. = ? (¢) Funds Paid by Lender. If the Rents are 1ot sufficient to cover the costs of taklng control of and managing the Property and of collecting the Rents, any funds paid by Lender for such purposes will become indebtedness of Borrower to Lender secured by this Security Instrument pursuant to Section 9. (d) Limitation on Collection of Rents. Borrower may not coliect any of the Rents more than one month in advance of the time when the Rents become due, except for security or similar deposits. {e) No Other Assignment of Rents. Borrower represents, 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 het: perform any act that could prevent Lender from exercising its rights under this Security Instrument. . - () Control and Maintenance of the Properur Uniess required by Applicable Law, Lender, or a receiver appointed under Applicable Law, is not obligated tc enter upon, take control of, or maintain the Property before or after giving notice of Defauit to' Borrower. However, Lender, or a receiver appointed ~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. 1 his Section 10 does not relieve Borrower of Borrower's obligations under Section 6. : This Section 10 will terminate when.all the sums secured by this Security Instrument are paid in full. 11. Mortgage Insurance. . (a) Payment of Premiums; Substltuilon of Policy; Loss Reserve; Protection of Lender. If Lender required Mortgage Insurance as a condition of makitig the Loan, Borrower wili pay the premiums required to maintain the Mortgage Insurance in effect. If Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, and (i) the Mortgage Insurance coverage required by Lender ceases for any reason to be available from the mortgage insurer that previously provided such insurance, or (ii) Lender determines in its sole discretion that such mortgage insurer is no longer eligible to provide the Mortgage Insurance coverage requiréd by Iiender, Borrower will pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost OREGON--Singie Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3038 07/2021 EX 25316.9 Page 10 of 20 A 316-10-20-1058C0719, 105900719 substantially equivalent to the cost to Borrower of the Mortgage lnsurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantiaily equivalent Mortgage insurance coverage is not available, Borrower will continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use, and retain these payments as-a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve will be non-refundable, even when the Loan is paid in full, and Lender will not be required to pay Borrower any interest or earnings on such loss reserve. Lender will no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer-selected by Lender again becomes available, is obtained, and Lender requires separately deslgnated payments toward the premiums for Mortgage Insurance. . If Lender required Mortgage Insurance'as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower will pay the premiums required to maintain Mortgage Insutance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Moertgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such terniination or until termination is required by Applicable Law. Nothing in this Section 11 affects Borrower's obligation to pay iriterest at the Note rate.. : . (b) Mortgage insurance Agreements. Morigage Insurance reimburses Lender for certam losses Lender may incur if Borrower does not repay the Loarn as agreed. Borrower is not a party to the Mortgage Insurance policy or coverage. Mortgage insurers evaluate their total hsk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modity their risk, or reduce losses. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may: teceive (directly' or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage-insurer's risk, or reducing losses: Any such agreements will not: (i) affect the amounts that Borrower has agreed to pay for-Mortgage Insurance, or any other terms of the Loan; (ii) increase the amount Borrower will owe for Mortgage Insuraice; (iiiy entitle Borrower to any refund; or (iv) affect the rights Borrower has, if any, with respect. to the Mortgage Insurance under the Homeowners Protection Act of 1998 (12 U.S8.C. § 4901 et seq.), as it may be amended from time to time, or any additional or successor federal legislation or regulation that governs-the¢ same subject matter ("HPA"). These rights under the HPA may inciude the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 12. Assignment and Application of Miscellancous Proceeds; Forfeiture. (a) Assignment of Miscellanecus Proceeds. Borrower is unconditionally assigning the right to receive all Miscellaneous Proceeds to Lender and-agrees-that such amounts will be paid to Lender. (b) Application of Miscellaneous Proceeds upon Damage to Property. If the Property is damaged, any Miscellaneous Proceeds will be applied:to restoration or repair of the Property, if Lender deems the restoration or repair to be economicaily feasible and Lender's security will not be lessened by such restoration or repair. During such repair and restoration period, Lender will have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity.to inspect the Property to ensure the work has been completed to Lender's satisfaction (which may include satisfying Lender's minimum eligibility OREGON-—Smgle Famuy--Fanme Mae/F reddle Mac IJNIP ORM INSTRUMENT Form 3038 07/2021 E& 253169 Page 11 of 20 QT 316-11-20-105800718 105800719 requirements for persons repairing the Proprty, including, but not limited to, licensing, bond, and insurance requirements) provided that such inspection raust be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in’ a2, series of progress payments as the work is completed, depending on the size of the repair or restoration, the terms of the repair agreement, and whether Borrower is in Default on the Loan. Lender may make such disbursements directly to Borrower, to the person repairing or restoring the Property, or payable jointly to.both.Unless L.ender and Borrower agree in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender will not be required to pay Borrower any interest or earnings on such Misceilaneous Proceeds. If Lender deems the restoration or repair not to be economically feasible or Lender's security would be lessened by such restoration or repair, the Miscellaneous Proceeds will be applied to the sums s‘e_cured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such I\/lli.s:cellaneous Proceeds will be applied in the order that Partial Payments are applied in Section 2(b). S . (¢y Application of Miscellaneous Prugeeds upon Condemnation, Destruction, or Loss in Value of the Property. In the event of a total taking, destruction, or loss in value of the Property, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security- Instrument, whether or not then due, with the 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™) where the fair market value of the Property immediately before the Partial Devaluation is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the Partial Devaluation, a percentage of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument unless Borrower and Lender otherwise agree in writing. The amount of the Miscellaneous Proceeds that will be so applied is determined by mulitiplying the total amount of the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount 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 Miscelianeous Proceeds will be paid to Borrower. : _ In the event of'a Partral Devaluatron where the fmr marl 2t value of the Property immediately before the Partial Devaluation is less than the amount of the sums secured immediately before the Partial Devaluation, all of the Miscellaneous Proceeds will be applred to the sums secured by this Security Instrument, whether or not the sums are then duey unless- Borrowcr_ and Lender otherwise agree in writing. {d) Settiement of Claims. Lender is authorized to collect and apply the Miscellaneous Proceeds "either to the sums secured by this ‘Security Instrument, whether;or not then due, or to restoration or repair of the Property, if Borrower (i) abandons the Property, or (i) fails to respond to Lender within 30 days after the date Lender notifies Borrower that the Opposing Party (as defined in the next sentence) offers io settle a claim for damages. "Opposing Party" means the third party‘that owes Borrower the Misceilaneous Proceeds or the party against whom Borrower has a right of action jn regard to the Miscellaneous Proceeds. (e) Proceeding Affecting Lender's Interest in the Property. Borrower will be in Default if any action or proceeding begins, whether civil or criminal, that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a Default and, if acceleration has occurred, reinstate as provided in Section 20, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower is uncondltronallv assigning to Lender the proceeds of any award or claim for damages that are attributable to the impairment of Lender's. interest in the Property, which proceeds will be paid to Lender. Al Miscellaneous Proceeds that are not applied to restoration or repair of the Property OREGON--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3038 07/2021 Ex 253169 Page 12 of 20 IREARA 6-12-20-105900719 iy §a L riem b, 165900719 will be applied in the order that Partial Payments are appiied in Scction 2(b). 13. Borrower Not Released; Forbearance by Lender Not a Waiver. Borrower or any Successor in Interest of Borrower will not be released from lability under this Security Instrument if Lender extends the time for 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 Borrower, or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument, by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising-any right or remnedy. including, without limitation, Lender's acceptance of payments trom third persoas, entities, or Successors in Interest of Borrower or in amounts iess than the amount then due, will not be a waiver of, or preclude the exercise of, any right or remedy by Lender. 14. Joint and Several Liability; Signatories; Successors and Assigns Bound. Borrower's obligations and liability under this Security histrumemnt will be joint and several. However, any Borrower who signs this Security Instrument but does not sign the Note. (a} signs this Security Instrument to mortgage, grant, and convey such Borrower's interest in. the Property under the terms of this Security Instrument; (b) signs this Security Instrument to waive any applicable inchoate rights such as dower and curtesy and any available homestead exemptions; (c) signs this Security Instrument to assign any Miscellaneous Proceeds, Rents, or other earnings from the-Property to Lender; () is not personally obligated to pay the sums due under the Note or this Security lInstrument; and (e} agrees that Lender and any other Borrower can agree to extend, modify, forbear, or make any accommodations with regard to the terms of the Note or this Security Instrument without such Borrower's consent and without affecting such Borrower's obligations under this .Security Instrument.. Subject to the provisions of Section 19, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, will obtain all of Borrower's rights, sbligations, and benefits under this Security Instrument. Borrower will not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release lh Wi ltl?" PR S e s . 15. Loan Cha Arges, _ : T : : (a) Tax and Flood Determlnatlon F €es. Lerrder may requlrc Borrower to pay (i) a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan, and (ii) either (A) a one-time charge for flood zone determination, certification, and tracking services, or (B) a one- time charge for flood zone determination.and-certification services and subsequent charges each time remappings or simiiar changes occur that reasonably might affect such determination or certification. Borrower will also be responsible for the payment of any fees. imposed by the Federal Emergency Management Agency, Or any successor agency, at: a11) time dur]ng the Loan term, in connection with any flood zone determinations. . (b) Default Charges. If permrtted under Apphcable Law, [ ender may charge Borrower fees for services performed in connection with Borrower's Default to protect Lender's interest in the Property and rights under this Security Instrument, including: (i) reasonable attorneys' fees and costs; (ii) property inspection, valuation, mediation, and loss mitigation fees; and (iii) other related fees. (c) Permissibility of Fees. In regard to any other fecs, the absence of express authority in this Security Instrument to chargs a specific fee to Borrower should not be-censtrued as a prohibition on the charging of such fee. Lender may not charge fees that are exprt ss]y prohrbrted by this Security Instrument or by Applicable Law. Coe - (d) Savings Clause. If Appucable Law sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan OREGON--SmUle Fam ly—nFaalnle Mae/Freddie Mae UNIFORM INSTRUMENT Form 3038 07/2021 X 25316.9 _ Page 13 of 20 O 25316-13-20-10E800718 105900718 exceed the permitted limits, then (i) any such loan charge will s reduced by the amount necessary to reduce the charge to the permitted limit, and (ii) any suras already coilected 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 Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any. prepayment charge (whether or not a prepayment charge is provided for under the Noi¢). To.the extent permitted by Applicable Law, Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 16. Notices; Borrower's Physical Address. All notices: glven by Borrower or Lender in connection with this Security Instrument must be in writing. (a) Notices to Borrower. Unless-Applicable Law requires a different method, any written notice to Borrower in connection with this Security Instrumeént will be deemed to have been given to Borrower when (i) mailed by first class mail, or (ii) actually delivered to Botrrower's Notice Address {(as defined in Section 16{c) below)+if sent by means other than first class.mail or Electronic Communication (as defined in Section 16(b) below). Notice to any one Borrower will constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. If any notice to Bortower required by this Security {nstrument is also required - under Applicable Law, the Apphcable Law rcqurrement w?l satrsfv the correspondmg requlrement under this Security Instrument. {b) Electronic Notice to Borrower. Unless anothier deh ety method is rcqulred by Apphcable Law, Lender may provide notice to Borrower by e-mail or other electronic communication ("Electronic Communication") if: (i) agreed to by Lender and Borrower in writing; (ii) 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 connection 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 written notice to Lender of Borrower's withdrawal. of such agreement. (c) Borrower's Notice Address. The address to.which Lender will send Borrower notice ("Notice . Address") will be the Property Address unless Borrower has designated a different address by written notice’ 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 - Borrower's change of Notice Address, 1ncludmg anty 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 thrOLIgh that specified procedure. (d) Notices to Lender. Any votice to Lender will be given by delivering it or by mailing it by first class mail 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 to Lender only when actually received by Lender at Lender's designated address (which may include an Electronic Address). If 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; {e) Borrower's Physical Address. In addrtlorl to the deswnated Notice Address, Borrower will OREGON--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3038 07/2021 E#l 25316.9 Page 14 0f 20 LR l!lli I !llliillii!llllhl . 5316- 14-40 105800719 a 105900718 provide Lender with the address where Zorrower physically resides, if different from the Property Address, and notify Lender whenever this address changes. 17. Governing Law; Severability; Rules of Constructien. This Security Instrument is governed by federal law and the law of the State of Oregon..All rights and obligations contained in this Security Instrument are subject to any requiremenis and limitations of Applicable Law. If any provision of this Security Instrument or the Note conflicts with Applicable Law (i) such conflict will not affect other provisions of this Security Instrument or.the Note that can be given effect without the conflicting provision, and (ii) such conflicting provision, to the extent possible, will be considered modified to comply with Applicable Law.. Applicable L.aw might exphcrtly or implicitly allow the parties to agree by contract or it might be silent, but such silence should not be construed as a prohibition against agreement by contract. Any action required under this Security Instrument to be made in accordance with Applicable Law is to be made in accordance with the Applicable Law in effect at the time the action is undertaken. As used in this Security Instrument: (aj words in the singular will mean and inciude the plural and vice versa; (b) the word "may" gives sole discretion without any obligation to take any action; (¢) any reference to "Section"” in this document refers to Sections contained in this Security Instrument unless otherwise noted; and (d) the headings and captions are inserted for convenience of reference and do not _define, limit, or describe the scope or intent of this Security Instrument or any particular Section, paragraph, or provision. 18. Borrower's Copy. One Borrower will & oe given one copy of the Note and of this Security fnstrument. 19, Transfer of the Property or a Beneficial Interest in Borrower. For purposes of this Section 19 only, "Interest 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. If all or any past of the Propertyror any Interest in the Properly' is sold or transferred (or if Borrower is not a natural person and a bencticial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in fall of all sums secured by this Security Instrument. However, Lender will not exercise.this:eption if such exercise is prohibited by Applicable Law. If Lender exercises this-option, Lender will give Borrower notice of acceleration. The notice will provide a period of not less than 30 days fromthe date the notice is given in accordance with Section 16 within which Borrower raust pay all 'sums secured by this:Security Instrument. If Borrower fails to pay these sums prior to, or upon, the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demapd on Borrower and will be estitled to collect all expenses incurred in pursuing such remedies, including, but not-limited to: (a) reasonable attornsys' fees and costs; (b) property inspection and valuation fees; and (c) other fees mcurred 10 protect Lender's Interest in the Property and/or rights under this Security Instrument. . . 20. Borrower's Right to Reinstate the Loan after Acc;ler ation. If Borrower meets certain conditions, Borrower will have the right to reinstate the Loan and have enforcement of this Security Instrument discontinued at any time up to the iater of (a) five days before any foreclosure sale of the Property, or (b} such other period as Apglicable Law might specify for the termination of Borrower's right to reinstate. This right to reinstate will not apply.in the caseof acceleration under Section 19. To reinstate the Loan, Borrower must satisfy all of the following conditions: (aa) pay Lender all sums that then would be due under this Security Instruiment.and the Note as if no acceleration had occurred; (bb) cure any Default of any other covenants or agreem ents under this Security Instrument or the Note; (cc) OREGON--Single Famrly—-F anqie Mae/Freddlc Mae UNIrORM lN‘;’I RUMENT Form 3038 07/2021 E= 25316.9 Page 15 of 20 [ W TRG 25316-15-20:105900719 - B I e 105900719 pay all expenses incurred in enforcing this Sceutty Insy winent or the Note, including, but not limited to: (i) reasonable attorneys' fees and costs; (ii} proparty iuspection and valuation fees; and (iii) other fees incurred to protect Lender's interest in the Proparty al’nd/Ol rights under this Security Instrument or the Note; and (dd) take such action as Lender may reasonably regyire 1o assure that Lender's interest in the Property and/or rights under this Security [nstrument or the Nutc and Borrower's obligation to pay the sums secured by this Security Instrument or the Note, will continte unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (aaa). cash; ( bbb) ‘money order; (ccc) certified check, bank check, treasurer's check, or cashier's check, provided any -such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, mstrumentahty, or entity; or (ddd) Electronic Fund Transfer. Upon Borrower's reinstatement of the Loan, this Security Instrument and obligations secured by this Security Instrument will remain fully effective as if no acceleraf\on had occurred. Z1. Sale of Note. The Note or a partial mterest in the Note; together with this Security Instrument, may be sold or otherwise transferred one or more fimes. Upon such a sale or other transfer, all of Lender's rights and obligations under this Security Instrument wiil conve 'y to Lender's successors and assigns. 22, Loan Servicer. Lender may take any- action permitted under this Security Instrument through "the Loan Servicer or another authorized represcniative, such as a sub-servicer. Borrower understands that the Loan Servicet or other authorlzed representative of Lender has. the right and authorlty to take any such action. The Loan Servicer may change one or more times during the term of the Note. The Loan Servicer may or may not be the holder of the 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 mortgage loan servicing obligations; and {c) exercise any rights under the Note, this Security Instrument, and Applicable Law on belalf of Lender. if there is a change of the Loan Servicer, Borrower will be given written niotice of the change which will stute the name and address of the new Loan Servicer, the address to which payments should-be made, and any o.hervmfonnat]on Rh S PA requires in connection with a notice of transfer of servicing. - . . ¢ : 23. Notice of Grievance. Until Bono‘w er or Lender has notl?ed the other party (in accordance with Section 16) of an alleged breach and afforded the other party. a reasonable period after the giving of such notice to take corrective actiony neither Borrower nor bender may commernce, join, or be joined to any judicial action (either as an individual litigant or a member of a class) 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. 4£ Applicable Law provides a time period that must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this Section 23. The notice of Default given to Borrower pursuant to Section 26(a) and the notice of acceleration given to Borrower pursuant to Section 19 will. be decmed to, satisfy the notice and opportunity to take corrective action provisions of this Section 23. - 24. Hazardous Substances. . - JREEREE - (a). Definitions. As used in this Section 24: (i) "Enwironmental Law" means any Applicable Laws where the Property is located that relate to health, salety;. or environmental protection; (ii) "Hazardous Substances" include (A) those substances defined as toxic or-hazardous substances, pollutants, or wastes by Environmental Law, and (B) the following. substanees: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, corrosive materials or agents, and radioactive materials; (iii) "Environmental Cleanup" includes any response action, remedial action or remova] action, as defined in Environmental Law; and (iv) OREGON--Single Fan\rly ~Faanie Mae/Freddre Mac U’\HFORV INSTRUMENT Formi 3038 07/2021 Ed 25316.9 Page 16 of 20 il lE!iElliEiE IR 25316-16420-1 T, SN T 1059007159 an "Environmental Condition" means a ¢on Environmental Cleanup. (b) Restrictions on Use of Hazardeus Substances. Borrower will not cause or permit the presence, use, disposal, storage, or release of any Hazz idous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower will not do, tor allow anyone else to do, anything affecting the Property that: (i) violates Environmental Law; {ii) creates an Environmentai Condition; or (iii) due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects or could adversely affect the value of the Property. The preceding two sentences will not apply to the presence, use, or storage on the Property of small quantities of Hazardous- Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). . {¢) Notices; Remedial Actions. Borrower will promptly give Lendc1 written notice of: (i) any investigation; claim, demand, lawsuit, or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge; (ii) any Environmental Conditioin, including but not limited to, any spilling, leaking, discharge, release, or threat of release of any Hazardous Substance; and (iii) any condition caused by the presence, use, or release of a Hazardous Substance that adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower will promptly take all necessary remedial actions in accordance with Environmental Law. Nothing in this Security Instrument will create any obligation on Lender for an Environmental Cleanup. 28, Electronic Note Signed with Borrower's Electronic Signature. If the Note evidencing the debt for this Loan is electronic, Borrower acknowledges and represents to Lender that Borrower: (a) expressly consented and intended to sign the electronic Note using an Electronic Signature adopted by Borrower ("Borrower's Electronic Signature") instead of signing a paper Note with Borrower's written pen and ink signature; (b) did not withdraw-Bprrewer's -express consent to:sign the electronic Note using Borrower's Electronic Signature; (c¢) understood that by signing the electronic Note using Borrower’s Electronic Signature, Borrower promised. to.pay. thydebt eyidenced by the eléctronic Note in accordance with its terms; and (d) signed, the electronic Note. _litth'wrrowers Eiectronic 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. - na that can.cause, contribute to, or otherwise trigger an NON-UNIFORM CO\/'ENANTS; Borroyrer and L.endelj further covenant and agree as follows:; 26. Acceleratlon Remedles x (a) Notice of Default. Lender will give a notlce of Defaul to Borrower prior to acceleration following Borrower's Default, except that such.-notice of Default will not be sent when Lender exercises its right under Section 19 unless Applicable Law provides otherwise. The notice will specify, in addition to any other information required by Applicable Law: (i).the Default; (ii) the -actién required to cure the Default; (iii) a date, not less than 30 days (or as otherwise specified by -Applicable Law) from the date the notice is given to Borrower, by which the Default must be.cured; (iv). that failure to cure the Default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument and sale of the Property; (v) Borrower's right to reinstate after acceleration; and (vi) Borrower's right to bring a court action to deny the existence of a Default or to assert any other defense of Borrower to acceleration and sale. Co OREGON--Singie Family--Fannie Mae/Freddie J‘?ac UN‘! FORM INSTRUMENT Form 3038 07/2021 EX 25316.9 Page 17 of 20 R " 25316-17-20-1059C07 105900719 (b) Acceleration; Power of Saie;