Do the following ahead of class: Read LA/LS.9 (RE Financing Contracts and Laws) and consult the slides for this chapter (LN08). Using the posted real-life example of a note and deed of trust (NoteandDoT-Example.pdf), identify the elements of the note (LN08 p 4-12) and the Deed of Trust (LN08 p.13-14) in the example note/DoT. Also look at LN8, p.16-20 & p.22 and consult the posted document LN8 California Foreclosure Laws Foreclosure.pdf for foreclosure regulations in CA and how they apply to the real-life example DoT.

(1) identify the correspondence (clause name in lecture slides to real example section number) and why it matches,

(2) explain the clauses meaning, and

(3) its importance/significance to lender and/or borrower Why is it included? or How does it impact borrower behavior?