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MODIFICATION AGREEMENT <br />For value received, SMOMMIOSIONIWWWWW, a California <br />ellalliellearrir (the "Borrower "), the California Housing <br />Finance Agency, a public instrumentality and a political <br />subdivis:3n of the State of California (the Agency ") and <br />Municipal Bond Insurance Association, a non - profit <br />unincorporated association of insurance companies organized <br />under the laws of the State of New York ( "MBIA ") hereby agree <br />to amend and modify the Deed of Trust described below as set <br />forth herein. <br />The term "Deed of Trust" as used herein shall refer to <br />that certain deed of trust securing the property described on <br />Exhibit A hereto and dated July 1, 1987 executed by Borrower, <br />as Trustor, in favor of First Interstate Mortgage Company <br />( "First Interstate ") and recorded as Instrument No. <br />on , 1980, in book , page of Official <br />Records in the County Recorder's Office of j- <br />County, California and assigned by First Interstate to the <br />Agency by Instrument No. recorded on S <br />1986 and further assigned by the Agency to the Agency and <br />MBIA, as their interests may appear by Instrument No. <br />recorded on esairles , 1980. <br />Now, therefore, the parties hereto agree to modify the <br />Deed of Trust as follows: <br />1. The following shall he added after the last <br />sentence of Paragraph of page : This Deed of Trust <br />shall also secure the obligations of the Borrower to MBIA <br />under that certain Developer Agreement between Borrower and <br />MBIA dated as of , 1988; provided, however, that <br />in no event shall the sum of the obligations secured by this <br />Deed of Trust exceed the amount of SOMMOMMOMO, plus interest, <br />late charges and advances or expenses incurred by the <br />Beneficiary in accordance with the terms herein or in the <br />Promissory Note. <br />2. The following shall be added as new Section — to <br />the Deed of Trust: <br />Section Interests, Rights and Remedies of MBIA and <br />the Agency. <br />(a) The interests of MBIA and the Agency pursuant to <br />this Deed of Trust shall be as described in this Section <br />The term "Lender" shall refer collectively either to MBIA <br />and /or the Agency and the term "Active Lender" shall, refer to <br />either MBIA or the Agency and shall denote the entity <br />