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g��. iCR3'710
<br /> LOAN ID# 0163392818
<br /> impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of
<br /> Trust is on a leasehold. If this Deed of Trust is on a unit in a condominium or a planned unit development,
<br /> Borrower shall perform all of Bonower's obligations under the declaration or covenants creating or governing
<br /> the condominium or planned unit development, the by-laws and regulations of the condominium or planned unit
<br /> development, and constituent documents.
<br /> 7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained
<br /> in this Deed of Trust, or if any action or proceeding is commenced which materially affects Lender's interest in
<br /> the Property, then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse
<br /> such sums, including reasonable attorneys' fees, and take such action as is necessary to protect Lender's
<br /> interest. If Lender required mortgage insurance as a condition of making the loan secured by this Deed of
<br /> Trust, Bonower shall pay the premiums required to maintain such insurance in effect until such time as the
<br /> requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or
<br /> applicable law.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, at the Note rate, shall
<br /> become additional indebtedness of Borrower secured by this Deed of Trust. Unless Borrower and Lender agree
<br /> to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting
<br /> payment thereof. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any
<br /> action hereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the
<br /> Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable
<br /> cause therefor related to Lender's interest in the Property.
<br /> 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in
<br /> connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of
<br /> condemnation, are hereby assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of
<br /> trust or other security agreement with a 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
<br /> or modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in
<br /> interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and
<br /> Bonower's successors in interest. Lender shall not be required to commence proceedings against such
<br /> successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this
<br /> Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br /> Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable
<br /> 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 Liability; Co-signers. The covenants and
<br /> agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and
<br /> assigns of Lender and Borrower, subject to the provisions of paragraph 16 hereof. All covenants and
<br /> agreements of Borrower shall be joint and several. Any Borrower who co-signs this Deed of Trust, but does
<br /> not execute the Note, (a) is co-signing this Deed of Trust only to grant and convey that Bonower's interest in
<br /> the Property to Trustee under the terms of this Deed of Trust, (b) is not personally liable on the Note or under
<br /> this Deed of Trust, and (c) agrees that Lender and any other Borrower hereunder may agree to extend, modify,
<br /> forbear, or make any other accommodations with regard to the terms of this Deed of Trust or the Note, without
<br /> 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 applicable law to be given in another manner, (a) any
<br /> notice to Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice
<br /> by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may
<br /> designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail
<br /> to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as
<br /> provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to
<br /> 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
<br /> laws of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability
<br /> of Federal law to this Deed of Trust. In the event that any provision or clause of this Deed of Trust or the
<br /> Note conflicts with applicable law, such conflict sha11 not affect other provisions of this Deed of Trust or the
<br /> Note which can be given effect without the conflicting provision, and to this end the provisions of this Deed of
<br /> Trust and the Note are declared to be severable. As used herein, "costs," "expenses" and "attorneys' fees"
<br /> include all sums to the extent not prohibited by applicable law or limited herein.
<br /> 14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of
<br /> Trust at the time of execution or after recordation hereof.
<br /> 15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home
<br /> rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender,
<br /> at Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an
<br /> assignment of any rights, claims or defenses which Borrower may have against parties who supply labor,
<br /> materials or services in connection with improvements made to the Property.
<br /> 16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or
<br /> any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and
<br /> Initials: ��
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<br /> NE2M3G-10041996 Page 3 of 5 Doc Prep Plus, Inc.
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