HomeMy WebLinkAbout2005 - Deed of Trust - Staudacher Robert / Talevich Michael - 20050411000919
After Recording Return To:
COUNTRYWIDE HOME LOANS, INC.
MS SV -79 DOCUMENT PROCESSING
P.O.Box 10423
Van Nuys, CA 91410 -0423
Assessor's Parcel or Account Number: 73 4 0 60 - 0 664
Abbreviated Legal Description:
PTN TRACT 45, RIVERSIDE INTERURBAN TRACTS
(include lot, block and plat or section, township and rangel
Full legal description located on page 6
INSURED BY
Trustee: FIDELITY NATIONAL TITLE
LS TITLE OF WASHINGTON S -20 9 '3 ( 0 \2 \
[Space Above This Line For Recording Data)
• MERS HELOC - Deed of Trust
2E034 -WA (11/04)(d)
11111111111111
20050411000919
31.00
FIpEt,ITY NPTIO DT
PROEM OF 012
04/11/2005 12:09
KING COUNTY, UP
DEED OF TRUST
(Line of Credit Trust Deed)
Page 1 of 5
0009881819204005
(Doc ID 4)
MIN 1000157- 0004977973 -5
THIS DEED OF TRUST, dated APRIL 04, 2005 , is between
ROBERT N STAUDACHER, a married mamas his separate estate, and Michael
Talevich, a married man as his separate estate,
residing at
10517 NE 46TH ST, KIRKLAND, WA 98033
the person or persons signing as "Grantor(s)" below and hereinafter referred to as "we," "our," or "us" and
LS TITLE OF WASHINGTON
as trustee and hereinafter referred to as the "Trustee," with an address at
2707 COLBY AVE., SUITE 118
for the benefit of MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., ( "MERS ") a Delaware
corporation, with an address of P.O. Box 2026, Flint, MI 48501 -2026, tel. (888) 679 -MERS. MERS is the
"Beneficiary" under this Deed of Trust and is acting solely as nominee for
COUNTRYWIDE HOME LOANS, INC.
( "Lender" or "you ") and its successors and assigns, with an address of
4500 Park Granada, Calabasas, CA 91302 - 1613
PREMISES: In consideration of the loan hereinafter described, we hereby mortgage, grant and convey to
the Trustee the premises Located at
4020 S 128TH ST, TUKWILA
[State, Municipality]
KING Washington 98168 - 2574 (the "Premises ").
County ZIP
1111 1111111 1
, ,vvv. ,�.vv,
and further described as:
SEE ATTACHED LEGAL DESCRIPTION ADDENDUM
BORROWER'S IMPORTANT OBLIGATIONS:
• MERS HELOC - Deed of Trust
2E034 -WA (11/04)
Pege2 of5
DOC ID #: 0009881819204005
The Premises includes all buildings and other improvements now or in the future on the Premises and all rights
and interests which derive from our ownership, use or possession of the Premises and all appurtenances thereto.
The Premises are not used principally for agricultural or farming purposes.
WE UNDERSTAND and agree that MERS is a separate corporation acting solely as nominee for Lender
and Lender's successors and assigns, and holds only legal title to the interests granted by us in this Deed of
Trust, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors
and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to
foreclose and sell the Property, and to take any action required of Lender including, but not limited to, releasing
or canceling this Deed of Trust.
TERM: The maximum term of the Note is 25 years, including any renewals or extensions thereof.
LOAN: This Deed of Trust will secure your loan to us in the principal amount of $ 40, 000.00
much thereof as may be advanced and readvanced from time to time to
ROBERT N. STAUDACHER
the Borrower(s) under the Home Equity Credit Line Agreement And Disclosure Statement (the "Note ") dated
APRIL 04, 2005 , plus interest and costs, late charges and all other charges related to the loan, all
of which sums are repayable according to the Note. This Deed of Trust will also secure the performance of all
of the promises and agreements made by us and each Borrower and Co- Signer in the Note, all of our promises
and agreements in this Deed of Trust, any extensions, renewals, amendments, supplements and other
modifications of the Note, and any amounts advanced by you under the terms of the section of this Deed of
Trust entitled "Our Authority To You." Loans under the Note may be made, repaid and remade from time to
time in accordance with the terms of the Note and subject to the Credit Limit set forth in the Note.
OWNERSHIP: We are the sole owner(s) of the Premises. We have the legal right to mortgage, grant and convey
the Premises to the Trustee.
(a) PAYMENT AND PERFORMANCE: We will pay to you all amounts secured by this Deed of Trust as
they become due, and shall strictly perform our obligations.
(b) TAXES: We will pay all real estate taxes, assessments, water charges and sewer rents relating to the
Premises when they become due. We will not claim any credit on, or make deduction from, the loan under the
Note because we pay these taxes and charges. We will provide you with proof of payment upon request.
(c) MAINTENANCE: We will maintain the building(s) on the Premises in good condition. We will not
make major changes in the building(s) except for normal repairs. We will not tear down any of the building(s)
on the Premises without first getting your consent. We will not conduct or permit any nuisance or waste on or to
the Premises. We will not use the Premises illegally. If this Deed of Trust is on a unit in a condominium or a
planned unit development, we shall perform all of our obligations under the declaration or covenants creating or
governing the condominium or planned unit development, the by -laws and regulations of the condominium or
planned unit development and constituent documents.
(d) INSURANCE: We will keep the building(s) on the Premises insured at all times against loss by fire,
flood and any other hazards you may specify. We may choose the insurance company, but our choice is subject
to your reasonable approval. The policies must be for at least the amounts and the time periods that you specify.
We will deliver to you upon your request the policies or other proof of the insurance. The policies must name
you as "mortgagee" and "loss- payee" so that you will receive payment on all insurance claims, to the extent of
your interest under this Deed of Trust, before we do. The insurance policies must also provide that you be given
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DOC ID #: 0009881819204005
not less than 10 days prior written notice of any cancellation or reduction in coverage, for any reason. Upon
request, we shall deliver the policies, certificates or other evidence of insurance to you. In the event of loss or
damage to the Premises, we will immediately notify you in writing and file a proof of loss with the insurer. You
may file a proof of loss on our behalf if we fail or refuse to do so. You may also sign our name to any check,
draft or other order for the payment of insurance proceeds in the event of loss or damage to the Premises. If you
receive payment of a claim, you will have the right to choose to use the money either to repair the Premises or to
reduce the amount owing on the Note.
(e) CONDEMNATION: We assign to you the proceeds of any award or claim for damages, direct or
consequential, in connection with any condemnation or other taking of the Premises, or part thereof, or for
conveyance in lieu of condemnation, all of which shall be paid to you, subject to the terms of any Prior Deed of
Trust.
(f) GOVERNMENTAL REQUIREMENTS: We will comply with all laws, ordinances and regulations
applicable to the use or occupancy of the Premises.
(g) SECURITY INTEREST: We will join with you in signing and filing documents and, at our expense, in
doing whatever you believe is necessary to perfect and continue the perfection of your lien and security interest
in the Premises. It is agreed that the Lender shall be subrogated to the claims and liens of all parties whose
claims or liens are discharged or paid with the proceeds of the Agreement secured hereby.
(h) OUR AUTHORITY TO YOU: If we fail to perform our obligations under this Deed of Trust, you
may, if you choose, perform our obligations and pay such costs and expenses. You will add the amounts you
advance to the sums owing on the Note, on which you will charge interest at the interest rate set forth in the
Note. If, for example, we fail to honor our promises to maintain insurance in effect, or to pay filing fees, taxes
or the costs necessary to keep the Premises in good condition and repair or to perform any of our other
agreements with you, you may, if you choose, advance any sums to satisfy any of our agreements with you and
charge us interest on such advances at the interest rate set forth in the Note. This Deed of Trust secures all such
advances. Your payments on our behalf will not cure our failure to perform our promises in this Deed of Trust.
Any replacement insurance that you obtain to cover loss or damages to the Premises may be limited to the
amount owing on the Note plus the amount of any Prior Deeds of Trust.
(i) PRIOR DEED OF TRUST: If the provisions of this paragraph are completed, this Deed of Trust is
subject and subordinate to a prior deed of trust dated and given by us for the
benefit of
as beneficiary, in the original amount of $ 0.00 (the "Prior Deed of Trust "). We shall not
increase, amend or modify the Prior Deed of Trust without your prior written consent and shall upon receipt of
any written notice from the holder of the Prior Deed of Trust promptly deliver a copy of such notice to you. We
shall pay and perform all of our obligations under the Prior Deed of Trust as and when required under the Prior
Deed of Trust.
(j) HAZARDOUS SUBSTANCES: We shall not cause or permit the presence, use, disposal, storage, or
release of any Hazardous Substances on or in the Premises. We shall not do, nor allow anyone else to do,
anything affecting the Premises that is in violation of any Environmental Law. The preceding two sentences
shall not apply to the presence, use, or storage on the Premises of small quantities of Hazardous Substances that
are generally recognized to be appropriate to normal residential uses and to maintenance of the Premises. As
used in this paragraph, "Hazardous Substances" are those substances defined as toxic or hazardous substances
by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum
products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and
radioactive materials. As used in this paragraph, "Environmental Law" means federal laws and laws of the
jurisdiction where the Premises are located that relate to health, safety or environmental protection.
(k) SALE OF PREMISES: We will not sell, transfer ownership of, mortgage or otherwise dispose of our
interest in the Premises, in whole or in part, or permit any other lien or claim against the Premises without your
prior written consent.
(I) INSPECTION: We will permit you to inspect the Premises at any reasonable time.
NO LOSS OF RIGHTS: The Note and this Deed of Trust may be negotiated or assigned by you without
releasing us or the Premises. You may add or release any person or property obligated under the Note and this
Deed of Trust without losing your rights in the Premises.
DEFAULT: Except as may be prohibited by applicable law, and subject to any advance notice and cure period
if required by applicable law, if any event or condition of default as described in the Note occurs, the Trustee
may foreclose upon this Deed of Trust by notice and sale or may foreclose judicially, in either case in
accordance with and to the extent provided by law. You may bid at any public sale on all or any portion of the
• MERS HELOC - Deed of Trust
2E034 -WA (11/04) Page 3 of 5
Initl
DOC ID #: 0009881819204005
Property. In addition, you or the Trustee may, in accordance with applicable law, (i) enter on and take
possession of the Premises; (ii) collect the rental payments, including over -due rental payments, directly from
tenants; (iii) manage the Premises; and (iv) sign, cancel and change leases. We agree that the interest rate set
forth in the Note will continue before and after a default, entry of a judgment and foreclosure or public sale. In
addition, you shall be entitled to collect all reasonable fees and costs actually incurred by you in proceeding to
foreclosure or to public sale, including, but not limited to, trustees fees, reasonable attorneys fees (whether or
not there is a judicial proceeding) and costs of documentary evidence, abstracts and title reports.
ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you the
rents of the Premises. You or a receiver appointed by the courts shall be entitled to enter upon, take possession
of and manage the Premises and collect the rents of the Premises including those past due.
WAIVERS: To the extent permitted by applicable law, we waive and release any error or defects in proceedings
to enforce this Deed of Trust and hereby waive the benefit of any present or future laws providing for stay of
execution, extension of time, exemption from attachment, levy and sale and homestead exemption.
BINDING EFFECT: Each of us shall be fully responsible for all of the promises and agreements in this Deed of
Trust. Until the Note has been paid in full and your obligation to make further advances under the Note has
been terminated, the provisions of this Deed of Trust will be binding on us, our legal representatives, our heirs
and all future owners of the Premises. This Deed of Trust is for your benefit and for the benefit of anyone to
whom you may assign it. Upon payment in full of all amounts owing to you under the Note and this Deed of
Trust, and provided any obligation to make further advances under the Note has terminated, this Deed of Trust
and your rights in the Premises shall end.
NOTICE: Except for any notice required under applicable law to be given in another manner, (a) any notice to
us provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by regular first
class mail addressed to us at the last address appearing in your records or at such other address as we may
designate by notice to you as provided herein, and (b) any notice to you shall be given by certified mail, return
receipt requested, to your address at
For MERS:
P.O. Box 2026, Flint, MI 48501 -2026
For Lender:
4500 Park Granada, Calabasas, CA 91302 - 1613
or to such other address as you may designate by notice to us. Any notice provided for in this Deed of Trust
shall be deemed to have been given to us or you when given in the manner designated herein.
RELEASE: Upon payment of all sums secured by this Deed of Trust and provided your obligation to make
further advances under the Note has terminated, the Trustee shall discharge this Deed of Trust without charge to
us, except that we shall pay any fees for recording of a reconveyance of this Deed of Trust.
SEVERABILITY: If any provision in this Deed of Trust is held invalid or unenforceable, the remaining
provisions shall continue in full force and effect.
GENERAL: You or the Trustee can waive or delay enforcing any of your rights under this Deed of Trust
without losing them. Any waiver by you of any provisions of this Deed of Trust will not be a waiver of that or
any other provision on any other occasion.
SUBSTITUTE TRUSTEE: Lender may, from time to time, appoint a successor trustee by an instrument
executed and acknowledged by Lender and recorded in the county in which this Deed of Trust is recorded, and
upon such recordation the successor trustee shall become vested with the same powers, rights, duties and
authority of the Trustee with the same effect as if originally made Trustee hereunder.
MERGER: There shall be no merger of the interest or estate created by this Deed of Trust with any other estate
or interest in the Premises at any time held by you or for your benefit without your written consent.
ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO
FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER
WASHINGTON LAW.
• MERS HELOC - Deed of Trust InItl
2E034 -WA (11/04)
Page 4 of 5
Luu7u4 I r vvu7 ,.7.vv%
DOC ID #: 0009881819204005
THIS DEED OF TRUST has been signed by each of us under seal on the date first above written.
Grantor ROBE N. STAUDACHER
STATE OF WASHINGTON
My Appointment Expires on
Grantor:
Grantor:
(SEAL)
(SEAL)
(SEAL)
(SEAL)
JOHN S. FORDERHASE
STATE OF WASHINGTON
NOTARY — • — PUBLIC
MY COMMISSION EXPIRES 0444 - 07
ss. ee
County of o �. S�toti.dCrav�.�
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�• On this day per onally appeared before ntee
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to me known to be the individual S described in and w . executed the within and foregoing instrument,
and acknowledged that signed the same a , . free and voluntary act and deed,
for the uses and purposes therein entioned.
GIVE? 0 ^31 this . of ld- A. , 24) 0 S
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• MERE HELOC - Deed of Trust
2E034 -WA (11/04) Page 5 of 5
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Pu in and for the State of Washington, residing at
t) tivichra
LWOW+ I I VVVJ I a .vvv
Prepared by: TIFFANY GASH
Branch #: 0000373
2825 EASTLAKE AVE E #250
DATE: 04/04/2005 SEATTLE, WA 98102
CASE*: Phone: (206)302 -2000
DOC ID #: 0009881819204005 Br Fax No.: (206) 323 - 3595
BORROWER: ROBERT N. STAUDACHER
PROPERTY ADDRESS:4020 S 128TH ST
TUKWILA, WA 98168 -2574
A portion of Tract 45, RIVERSIDE INTERURBAN TRACTS, according
to the Plat thereof recordedi n Volume 10 of Plats, Page 74,
records of King County, Washington, described as follows:
Commencing at the Northeast corner of said Tract 45, which
point is on the center line of the street; THENCE West along
the center line of the Street 150 feet; THENCE South parallel
to the East line of said Tract 45, 152.50 feet to the true
point of beginning; THENCE South along said parallel line
333.85 feet to a point of curve; THENCE along a curve to the
right having a radius of 15 feet, a distance of 33.835 feet to
a point of tangency, which point is on the Northeasterly line
of South 128th Street ( formerly River Street); THENCE along
said street line North 50 degrees 45'30" West 265.35 feet to
the Easterly line of 40th Ave South ( formerly Dale Street);
THENCE North along said Easterly line 177.61 feet to a point
from which the true point of beginning bears East; THENCE East
230 feet to the True Point of Beginning. Situate in the County
of King, State of Washington.
FHA/VNCONV
Legal Description Exhibit A
2C404 -XX (04/03)(d)
2 3 9 9 1
COUNTRYWIDE HOME LOANS, INC.
LEGAL DESCRIPTION EXFIIBIT A
111111111. 1110311
20050411000919.006
1 -4 FAMILY RIDER
Assignment of Rents
Return To:
COUNTRYWIDE HOME LOANS, INC.
MS SV -79 DOCUMENT PROCESSING
P.O.Box 10423
Van Nuys, CA 91410 -0423
PARCEL ID #:
734060 -0664
Prepared By:
TIFFANY GASH
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1 U443 -XX (11/03)(d)
Page 1 of 6
98818192
(Loan #)
Initials: fZ/7
III l; l
20050411000919.001
LOAN #: 98818192
THIS 1-4 FAMILY RIDER is made this 9th day of APRIL, 2005 , and is incorporated into
and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security
Instrument ") of the same date given by the undersigned ( "Borrower") to secure Borrower's Note to:
COUNTRYWIDE HOME LOANS, INC.
4500 Park Granada
Calabasas, CA 91302 -1613
( "Lender ") of the same date and covering the Property described in the Security Instrument and located at:
9020 S 128TH ST
TUKWILA, WA 98168 -2574
1.4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
Borrower and Lender further covenant and agree as follows:
A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the
Property described in the Security Instrument, the following items are added to the Property description,
and shall also constitute the Property covered by the Security Instrument: building materials, appliances,
and goods of every nature whatsoever now or hereafter located in, on, or used, or intended to be used in
connection with the Property, including, but not limited to, those for the purposes of supplying or
distributing heating, cooling, electricity, gas, water, air and light, fire prevention and extinguishing
apparatus, security and access control apparatus, plumbing, bath tubs, water heaters, water closets, sinks,
ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awnings, storm windows, storm
doors, screens, blinds, shades, curtains and curtain rods, attached mirrors, cabinets, paneling and attached
floor coverings now or hereafter attached to the Property, all of which, including replacements and
additions thereto, shall be deemed to be and remain a part of the Property covered by the Security
Instrument. All of the foregoing together with the Property described in the Security Instrument (or the
leasehold estate if the Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and the
Security Instrument as the "Property.'
B. USE OF PROPERTY; COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a
change in the use of the Property or its zoning classification, unless Lender has agreed in writing to the
change. Borrower shall comply with all laws, ordinances, regulations and requirements of any
governmental body applicable to the Property.
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20050411000919.008
LOAN #: 98818192
C. SUBORDINATE LIENS, Except as permitted by federal law, Borrower shall not allow any lien inferior
to the Security Instrument to be perfected against the Property without Lender's prior written permission.
D. RENT LOSS INSURANCE. If Borrower at any time does not occupy the Property, and rents the
Property, Borrower shall maintain insurance against rent loss in addition to the other hazards for which
insurance is required by the Security Instrument.
E. ASSIGNMENT OF LEASES. Upon Lender's request, Borrower shall assign to Lender all leases of the
Property and all security deposits made in connection with leases of the Property, Upon the assignment,
Lender shall have the right to modify, extend or terminate the existing leases and to execute new leases,
in Lender's sole discretion. As used in this paragraph E, the word "lease" shall mean "sublease" if the
Security Instrument is on a leasehold.
F. ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER; LENDER IN POSSESSION.
Borrower absolutely and unconditionally assigns and transfers to Lender all the rents and revenues
( "Rents ") of the Property, regardless of to whom the Rents of the Property are payable. Borrower
authorizes Lender or Lender's agents to collect the Rents, and agrees that each tenant of the Property shall
pay the Rents to Lender and Lender's agents. However, Borrower shall receive the Rents until (i) Lender
has given Borrower notice of default pursuant to paragraph 21 of the Security Instrument and (ii) Lender
has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's agents. This
assignment of Rents constitutes an absolute assignment and not an assignment for additional security
only.
If Lender gives notice of breach to Borrower, (i) all Rents received by Borrower shall be held by the
Borrower as trustee for the benefit of Lender only, to be applied to the sums secured by the Security
Instrument; (ii) Lender shall be entitled to collect and receive all of the Rents of the Property; (iii)
Borrower agrees that each tenant of the Property shall pay all Rents due and unpaid to Lender or Lender's
agents upon Lender's written demand to the tenant; (iv) unless applicable law provides otherwise, all
Rents collected by Lender or Lenders agents shall be applied first to the costs of taking control of and
managing the Property and collecting Rents, including, but not limited to, attorneys' fees, receiver's fees,
premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and
other charges on the Property, and then to the sums secured by the Security Instrument; (v) Lender,
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1 U443 -XX (11/03) Page 3 of 6
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LOAN #: 98818192
Lender's agents or any judicially appointed receiver shall be liable to account for only those Rents
actually received; and (vi) Lender shall be entitled to have a receiver appointed to take possession of and
manage the Property and collect the Rents and profits derived from the Property without any showing as
to the inadequacy of the Property as security.
Borrower represents and warrants that Borrower has not executed any prior assignment of Rents and has
not and will not perform any act that would prevent Lender from exercising its rights under this
paragraph. Lender, or Lender's agents or a judicially appointed receiver, shall not be required to enter
upon, take control of or maintain the Property before or after giving notice of default to Borrower.
However, Lender, or Lender's agents or a judicially appointed receiver, may do so at any time when a
default occurs. My application of Rents shall not cure or waive any default or invalidate any other right
or remedy of Lender. This assignment of Rents of the Property shall terminate when all of the sums
secured by the Security Instrument are paid in full.
G. PROTECTION OF LENDER'S RIGHTS IN THE PROPERTY. If Borrower fails to perform the
covenants and agreements contained in this Security Agreement, or there is a legal proceeding that may
significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for
condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is
necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may
include paying any sums secured by a lien which has priority over this Security Instrument, appearing in
court, paying reasonable attorneys' fee and entering on the Property to make repairs. Although Lender may
take action under this paragraph, Lender does not have to do so. Any amounts disbursed by Lender under
this paragraph shall become additional debts of Borrower secured by the Security Instrument.
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H. CROSS- DEFAULT PROVISION. Borrowers default or breach under any note or agreement in which
Lender has an interest shall be a breach under the Security Instrument and Lender may invoke any of the
remedies permitted by the Security Instrument.
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20050411000919.011
LOAN #: 98818192
BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this 1-4
Family Rider.
ROBERT N. STAUDACHER
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Borrower
Borrower
Borrower