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9 <br /> assigns. The term Beneficiary shall mean the holder and owner of the Note secured hereby, <br /> whether or not named as Beneficiary herein. <br /> 9. As set forth in the Subordinate Deed of Trust Note secured hereby, the entire balance <br /> owing under the Note shall become immediately due and payable at the option of the <br /> Beneficiary upon any sale, gift, lease, mortgage or other transfer of title to Property or any <br /> interest in the Property, except as specifically allowed by the Subordinate Deed of Trust Note or <br /> by the written consent of the Holder (transfer includes, but is not necessarily limited to, renting, <br /> leasing, selling, refinancing, and passing ownership by any voluntary or involuntary means, <br /> such as by gift, will or by operation of law), or any encumbrance of the Property resulting from a <br /> lien, assessment or judgment; on any transfer, voluntary or involuntary, including without <br /> limitation any sale, gift, lease, or inheritance, of the Property or any portion thereof, subject only <br /> to any requirements of applicable law and to the exception in Section 10(c) below, if applicable. <br /> After any transfer causing acceleration of the amounts secured hereby, all such amounts shall <br /> bear interest at twelve percent (12%) per annum or the highest rate permitted by applicable law, <br /> whichever shall be less. <br /> 10. Special Homebuyer Loan Program Provisions. This Deed of Trust is made to secure a <br /> loan under a program to assist eligible first-time home buyers to acquire homes. Therefore, <br /> and as a condition to participation in that program, I make the following additional covenants, <br /> representations and warranties: <br /> (a) Use of Loan Proceeds; Purchase Price. Grantor agrees that the proceeds of the <br /> ADDI loan secured by this Deed of Trust shall be used solely for payment of a portion of the <br /> purchase price of the Property and related costs. Grantor represents and warrants that: <br /> (i) Grantor is purchasing the Property in good faith for use as the principal <br /> residence of Grantor, and for other members of Grantor's family if Grantor has indicated <br /> a household size of greater than one person on Grantor's application to Beneficiary; <br /> (ii) Grantor does not have any arrangement or understanding involving the <br /> intended resale, lease, or other transfer of the Property by Grantor; and <br /> (iii) the total purchase price of the Property does not exceed $"*.00. <br /> (b) Information to Beneficiary. I agree to provide information requested by <br /> Beneficiary concerning my use of the Property as my principal residence, and any other use of <br /> the Property, within ten (10) days of the request. <br /> (c) No Illegal Use of Property; Private Residence Only. I agree that I shall not use <br /> the Property, nor permit use of the Property, for any illegal purposes including, but not limited <br /> to, the manufacture or sale of controlled substances such as drugs. I shall not use the Property <br /> for any purpose other than a private residence and any accessory use permitted by applicable <br /> zoning. If the Property has more than one legal dwelling unit (which may include an accessory <br /> dwelling unit), then so long as my family occupies a unit in the Property as my principal <br /> residence, the rental of the other unit(s) shall not be considered contrary to the Note or this <br /> Deed of-Trust, nor a cause for acceleration of the Note. <br /> (d) Accuracy of Information Provided to Beneficiary. I represent and warrant that <br /> the information provided by me to the Beneficiary concerning my household, residence history, <br /> household income, and financial resources, is true and complete. <br /> 9 <br /> ADDI Agreement between D - 5 <br /> City of Everett and Snohomish County <br />