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ROGER SMITFi STBPHANIE SMITH 9��. ��j���r�201616 04/13/1998
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<br /> 9. Condemnation. The proceeds of any awazd or claim for damages; direct or consequential, in connection with any
<br /> tondemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby
<br /> assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreement with a
<br /> lien which has priority over this Deed of Trust.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of
<br /> Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in
<br /> interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment
<br /> or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original
<br /> Borrower and Bonower's successors in interest. Any forbearance by Lender in exercising any right or remedy hereunder,
<br /> or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> 11. Successors and Assigns Bound;Joint and Several Liaaility; Co-signers. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Bonower,
<br /> subject to the provisions of paragraph 16 hereof. All covenant�s aua agreements of Borrower shall be joint and several.
<br /> Any Bonower who co-signs this Deed of Trust, but does not execute the Note, (a) is co-signing this Deed of Trust only to
<br /> grant and convey that Bonower's interest in the Property to Trustee under the terms of this Deed of Trust, (b) is not
<br /> personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender and any other Borrower hereunder
<br /> may agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this Deed of Trust or
<br /> the Note, without that Borrower's consent and without releasing that Borrower or modifying this Deed of Trust as to that
<br /> Borrower's interest in the Property.
<br /> 12. Notice. Except for any notice required under applic�ble law to be gi��en in another manner, (a) any notice to
<br /> Bonower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail
<br /> addressed to Borrower at the Pmperty Address or at such odier address as Borrower may designate by notice to Lender as
<br /> provided herein, and (b) any notice to Lender shall be �iven by �ertified mail to Lender's address stated herein or to such
<br /> other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Deed of
<br /> Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 13. Governing Law; Severability. The state and local laws applicable to this Deed of Trust shall be the laws of the
<br /> jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to this
<br /> Deed of Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law,
<br /> such conflict shall not affect other provisions of this Deeci of Trust or the No�e which can be given effect without the
<br /> conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be severable. As
<br /> used herein, "costs", "expenses" and "attorneys' fees" include all su�ms to the extent not prohibited by applicable law or
<br /> limited herein.
<br /> 14. Borrower's Copy. Bonower shall be furnished a conformed copy of the Note and of this Deed of Trust at the
<br /> time of eaecution or after recordation hereof.
<br /> 15. Rehabilitation Loan Agreanent. Bonower shall fulfill all of Borrower's obligadons under any home
<br /> rehabilitation, improvement, repair or other loan agreement which Borrower enters into with Lender. Lender, at Lender's
<br /> option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any
<br /> rights, claims or defenses which Borrower may have agai�.�st patties who supply (abor, materials or services in connection
<br /> with improvements made to the Property.
<br /> 16. Transfer of the Property or a Beneficial Inter�t en��or�row�r. If all or any part of the Property or any interest
<br /> in it is sold or transferred (or if a beneficial interest iv Borrower is sold or transferred and Borrower is not a natural
<br /> person) without Lender's prior written consent, I.�;nder rnay, at its option, require immediate payment in full of all sums
<br /> secured by this Deed of Trust. However, this option shall not be exercised by Lender if exercise is prohibited by federal
<br /> law as of the date of this Deed of Trust.
<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. Tl�e notice shall provide a period
<br /> of not less than 30 days from the date the nodce is delivered or mailed within wluch Borrower must pay all sums secured
<br /> by this Deed of Trust. If Borrower fails to pay these sums prior to the expirati�n of this period, Lender may invoke any
<br /> remedies permitted by this Deed of Trust without further notice or demand on Borrower.
<br /> NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any
<br /> covenant or agreement of Borrower in this Deed �f"Y"r�t, inclading Borrower's failure to pay, by the end of 10
<br /> calendar days atter they are due, any sums secured by this Jyeed of Tn�st, Lender prior to acceleration shall give
<br /> notice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach; (2) the action required to cure
<br /> such breach; (3) a date, not less than 20 days from the date the�notice�+mailed to Borrower, by which such breach
<br /> must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
<br /> acceleration of the sums secured by this Deed of Trust �n�d sale uF the Property. The notice shall further inform
<br /> Borrower of the right to reinstate at�er acceleration and the right to bring a court action to assert the nonexistence of
<br /> a default or any other defense of Borrower to acceleratron and sale. If the breach is not cured on or before the date
<br /> speci8ed in the notice, Lender, at Lender's option, may deetare all of the sums secured by this Deed of Trust to be
<br /> immediately due and payable without further demand and may invoke the power of sale and any other re�nedies
<br /> permftted by applicable law. Lender shall be entitped to cullect all reasonable costs and eacpenses incurred in
<br /> pursuing the reinedies provided in this paragraph 17, including, but not limited to, reasonable attorneys' fces.
<br /> If the power of sale is invoked, Trustee shadl record a natuce�of default in each county in which the Property or
<br /> some part thereof is located and shall mail copies of such notice in the manner prescr[bed by applicable law to
<br /> Borrower and to the other persons prescribed by applicable�aw. After the lapse of such time as may be required by
<br /> applicable law, Trustee shall give public notice of sale to tk�e �ers�ns and in the manner prescribed by applicable
<br /> law. Trustee, without d�nand on Borrower, shall sell the Property at public audion to the highest bidder at the time
<br /> and place and under the terms designatec� in the notice of sa�e in one or more parcels and in such order as Trustee
<br /> may determ[ne. Trustee may postpone sale of all or �ny parcel of'�the Propen:y by public announcanent at the time
<br /> and place of any previously scheduled sale. Lender or Len�er's des�gnee nYay purchase the Property at any sale.
<br /> Upon receipt of payment of the price bid, Tru�stee shall deliver to the purchaser Trustee's deed conveying the
<br /> Property sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the stat�nents made
<br /> therein. Tn�stee shall apply the proceeds of the sale in the following order: (a)to all reasonable costs and expenses of
<br /> the sale, including, but not limited to, Trustee's fees actaall,y incurred of not more than 5 °� of the gross sale price,
<br /> reasonable attorneys' fees and costs of title evidence; (b) ta all sums secured by this Deed of Trust; and (c) the
<br /> excess,if any,to the person or persons legally entitled thereto,
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