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<br /> ART[CLE ll 97� 1�1�
<br /> NON•IIYVIFORM COVENANTS. Borrower and l.ender furthct covenant nnd agrce c+s follows: .
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<br /> 16. Acceleratlon; Remedles. Upou Horrower's b►•cach a!uny covennnt�r wgrecment ot Borrower In thb DerJ :
<br /> " . of Trust,Including without IlmitANon t6e covenants to poy when due any sums under the Note secured by this :.,,_-
<br /> „�,,,,,,:+! i Den.d of Tntst. i,ender,at l.ender's option,subJect to tht�olbwing ssntence,moy declare all ot the sums secured -__
<br /> ..u.:-�� by this Deed of Trust to bc immediately due and poyabk without demand or notice and may Invoke thc power ;=�P'�
<br /> of sale,and any other remedies permUted by ApWicable law. I'rior to recording any notice ot default Lender slwll ,,,,'____
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<br /> give Borrower noNce of de[sult�requlred by law und,in the event of�de[ault conglsttng only of Borrower's y.;,�,
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<br /> [ailure to make a required paymeM,Borrower shalf once,a9 provtded by law,have tweaty(?.0)dAys ai'ter such :r;i�:.;,
<br /> notice is given to cure such de[ault by tenderiog the wmount due ot t6e time of the tender, wtthout accelerwtlon, _'-�
<br /> p1u.y wny unpaid charges. After recardfag a notice of de[ault,Lender�all be entitled to collect[n such proceedlnS �,:_�
<br /> aU expeages o[[oreclosure, includ[ng, but Rot linnited to, reasoaabk Attorneys' fets or trusta's and costs of �'��,
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<br /> ,; documentary�vidence, abetracts and tiYk reports.
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<br /> �° If the power of sale is invoked,Trustee shall record a notice of defau:t in each counry in whlch any part of the operty -
<br /> ; is located and shall mall copies of such notice in the tnaruier prescrlbcd by applicablt law to Borrower and to the other �.,
<br /> licable law,Tcustee shall give public notice of sale �,,�
<br /> �' persons prescribed by applicable law. After the time required by app
<br /> 4 to the persons and in the manner prescribed by applicable law. Trustee,without demand on Borrower,shall sell the � _
<br /> � pcoperty at pubtic auction to the highest bidder at the time and place and under the terms designated in the naz�, of the �.
<br /> ',�, in one or more parcels and in any order Trustee determines. Tcustee may postpone sale of all or any p __
<br /> . Property by public announcemenc at the time and place of any previously scheduled sale. Lender of its designee may
<br /> purchase the Property at azty sale. --
<br /> Tivstee shall appty the sale proceeds,first,to the costs and eapenses of exercising che power of sale and of the sale,
<br /> including the payment of the Trustee's fees actually incurred not to eaceed fiftan percent(1576)of the gmss sale price,
<br /> second. to payment of the obligatioa secured by this Deed of Tn�st, third, to the payment of junior trust dads.
<br /> mortgages or other lienholders,and ihe balan�, if any, io tttc per°..on or Fer�Qn�1��ally entided thereto.
<br /> ' .' t 17, Assignment oi Rents; Appointment of Rueiver. As additional security hercunder,Bonowen c�reby assigns to
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<br /> -� :. � ...�. • Lender the rents of tbe Property, pmvided that Borrower shall, prlor to acceleration under paragraph 16 hereof or
<br /> abandonment of the Property,have the right to collect and retain such rents as theY become due and payable.
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<br /> �-��'':�•.v r�` Upon acceleration under paragraph 16 hereof or abandonmeat of the Property,I.ender shall be entitled to have a recetver
<br />�• ��� . appointed by a court to enter upon.take possession of and manage the Property aud to collect the nnts of the Property
<br /> "'"�"%`�7� including those past due. A l l rents co l lec t e d b y t h e r e c e i v e r s h a l l b e a p p l i e d fi r st to pa ymeat of the costs of management
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<br /> _ :.� � of the Property and collection of rents. including,but not limited to recelver's fees,premiums on receiver's bonds an
<br />�'�`�6 i' • reasonable attomeys'fees, and then to the sums securcd by this Deod of Trust. The receiver shall be liable to account
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<br />;,��;� only for those reats actually received.
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<br />�—:��`'-"�� ` 18. Loan Chnrges. If the loan secured by this Deed of Trust is subjcet to a law which sets maaimum loan charges,
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<br /> °^�'^"�`�' and that law is finally interpreted so that the interest or other loan charges collxted or to be collected in connecHon wi
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<br /> r'��Y�+;r�:. the loan excced pennitted limits,then: (1)any such loan charges sball be reduced by the amount necessary to uce
<br /> -�'fi"•�'''�•:; the charge to the pecmitted limit; and (2)any sums already collected ftom Borrower which execeded permitted limits
<br /> �����' - wiU be refundtd to Borrower. --
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<br />� �r-�-""'�' 19. LegtslANon. If, after the date hereof,enactment or expiration of applicable laws have the effcet�ither of rendering
<br /> '''`�°=~ the pmvisions of the Note, the Deed of Trost or any Rider, unenforceable according to their terms.or all or any part _
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<br />-` �•��'F`"•� of the sums sxurc:d hereby uncollectible,as otherwise provided in this Deed of Trust or the Note,or of diminish g
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<br /> ' '' '""' the value of L.ender's security,then Lender. at Lender's optton,may declace all sums secured by the Deed o rust to
<br /> '. �" be immediately due and payable.
<br /> . 20. Release. Upon payment of all sums secUred by this Deed of Trust,this Deed of Trust shall become null and void �
<br /> and Lender or Trustee ahall release this Deul of Tnist without charge to Bonower. If Ttustee is requested to nlease �
<br /> this Deed of Trust, all instn�ments evidencing satisfaccion of the indebtedness secured by this Dced of Trusc shell be ���A
<br /> � �� surrenderecl to Trustee. Borrower shall pay all costs of recordation. if any. l.ender, at Lender's option,may allow a �„y.
<br /> _ � partial release of the Property on terms acceptable to L.ender and Lender may charge a release fee. ' --
<br /> ' ; 21. Watver of Homestead. Borrower hereby waives all rights of homestead exemption in the Property.
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<br /> 22. Hazardous Sabstances. Borrower shall not cause or perntit the presence.use,disposal,storage.or release of any
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<br /> Har.ardous Substances on or m cne rropercy• nvrcuw�� aumi uva u.,,..... «..�-.. --�____ _.__ .. . _ _
<br /> - the Property that is in violation of any Environmental Law. 'i'he preceding two sentences shall not apply to the presence,
<br /> use, or storage on the Propercy of small quantities of Ha7ardous Substances that aze generally recognized co bc
<br /> appmpriate ro normal residential uses and to maintenance of thc Proper[y.
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<br /> 1h7192 Iiter OM1l P�{e 1 uf S 109/9S1 NF FR/ARMIPEL Ottd
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