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<br /> Benaficiary end the Borrower as their respective interests exist at the time of the��j d tb�dv�Fie evidence of -
<br /> payment af the premium of said policy upon reasonable demand by the beneficiary.
<br /> Unless Lender and Borrower otherwise agee in writin�, insurance proceeds shall be applied to
<br /> restoration ar repa�r of the Property �damaged, if the restoration or repair is economically feasible and Lender's
<br /> security is not lessened, or the insurance proceeds shall be applied to the sums secured by this Security �
<br /> Inatrument,whether or not then duo,with any axcess paid to Borrower.
<br /> If Tiflrrower abandotis the Property.or does not answer within thirty (30) days a notice from Lender that
<br /> the insurance carrler has offered ta settle a clairn, 4hen Lender may collect the insurance proceeds. Lender may
<br /> use the proceeds to repair or reatore the Property or to pay sums secured by this Security Instrument,whether or
<br /> not then due. The thirry(30)day perivd will begin when the notice is given.
<br /> 5. WASTE. That the Bonower shall not commit or auffer any waste of the property.
<br /> 6. Lender or its agtnt may make reasonable entries upon and inspections of the Property. Lender shall
<br /> give Borrower notice at the time ofor prior to an inspection specifyring reasonable cause for the inspecrion.
<br /> 7. CONDEMNATION. The proceeds of any award or claim for dama�es, direct or consequential, in
<br /> connecrion with any condomnation or other taking of any part of the Property, or for conveyance in lieu of
<br /> condemnation,are hereby assigned end sliall be paid to Lcnder.
<br /> 8. BORROWER NOT RELEAS�D; FOREBEARANCE BY LfiNDER NOT A WAIVER. Extension
<br /> of the time for payment�r modification of amortization of the sums secwed by this Security Instrument granted
<br /> by Lender to B�nower or any successor in i�nterest of Bonower shall not operate to release the liability of the
<br /> original Borrower or Bonawer's successors in interest. Lender shall not be required to commence proceedings
<br /> against any successor in interest or retGse to extend time for payment or otherwise modii�r amortization of the
<br /> sums secured by this�ecurity Instmment by reason of any demand made by the original Borrower or Borrower's
<br /> sucaessors in interest. Any forbearance by Lender in exeraising any right or remedy, shall not be a waiver of or
<br /> preclude the exercise of any right or remedy.
<br /> 4, pggqi njT. 'That;if the Horrower defaults in any of the covenants or agreements contained herein or
<br /> in performance of the Promissory Note(s)secured hereby,then the BeneBciary may perform the same and that aIl
<br /> expenditures nnade by Beneficiary in so doing shall draw interest et the rate pravided in the Promissory Note(s)
<br /> aad shall be repayable by B�nower to BeneSciary and,together with interest and costs accruing thereon,shall be
<br /> secured by this Deed of Trust.
<br /> 10. ACCELERATIUN UPUN DEFAULT. If the Boerower defaults in tha payment of any installment of
<br /> principal or interest due under said Promissary Note(s) or if the Bonower defaults in the performence of eny
<br /> other covenant or agresment to be performed under said Promissory Note(s) or this Deed of Trust, or if a
<br /> trustee, receiver or liquidator of the Property or of Bonower shall be appointed, or any of the creditors of
<br /> Bonower ahall file a petition in baakruptcy against Borrower, or for the reorganizatian of Borrower pursuant to
<br /> the Foderal Bankruptcy Code,or aay similar law,whether federal or state, and if such order or petition shall not
<br /> be discharged or dismissed within thirty (30) days after the date on which such order or petition was filed.
<br /> Borrower ahall file a petirion pursuant to the Federal BankYUptcy Code or any similar law,federal or state, or if
<br /> Borrower ehall be adjudged a bankrupt, or he declared insolvent, or shall make an assignrnent for the benefit of
<br /> creditors, or shall admit in writing its inability to pay ita debts as they becoma due,or ahall consent to the
<br /> appointment of a receiver of sU or any part of the property.
<br /> Upon the occurrence of any of the above described defaults,or anytime thereafter, Beneficiary may, at its
<br /> oprion,declare all the indebtedness secured hereby immedintely due and payable and the same ahall bear interest
<br /> at the default rate, if any, set forth in the Notd. or otherwise at the highest rate pemutted by law, and,
<br /> urespective of whether BeneBciary exercises said option, it may, at its option and in ita sole discretion,without
<br /> any further notice or demand ta or upon Truator, do one or more of th� following: (a) Beneficiary may enter
<br />— upon,take possession o�manage and operate the Properry or any part thereofl, make repairs and possessian, in
<br /> its own name, sue for ur otherwise collect and receive rents, issues and profits, including those past due and
<br />� unpaid, and apply the same� less costs and ex�enses of operatton and collection, including reasonable attomey
<br /> fees and BeneRciary's costs, upon the indebtedness secured hereby and in such order as Beneficisry may
<br /> - detemrine. The entering upon and taking possession of the Property, the coUection of any rents, issues and
<br /> - profits, and the application thereof as aforesaid, shall not cure or waive any default theretofore or thereafter
<br /> = occurring,or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant to any
<br />- such notice. Beneficiary may bring any action in any couR of com}�etent jurisdiction to foreclose this Deed of
<br />'i T.,,o.„r p���r�p a���f the cnvenants hereof end Benef�cisrY �nay elect to cause the Property or any part thereof
<br />;;i to be sold under the power of sale,and in such event,Beneflciary or srustee shall give such notice of defauit and
<br /> � notice of sale as may be then required by law.
<br /> �, i l. POWER OF SALE. That the Horrower hercby confers upon tho Trustee a power to se l l t he
<br />�i property which the Trustee may exercise and under which the property may be sold in the manner provided by _
<br />;� law. At the optiun of the beneficiary,th'ss Deed of'frust may bo foreclosed in the ma�er provided by law for the
<br /> foreclosure of mortgage on real property. That, if a sale of tha property by the Trustee is exercised under this
<br /> power of sale, the proceeds shall be applied first to the payment of the costs and expenses of exercising the
<br /> power of sale,including the fee of the Trustee in an Amount not to exceed two per cent (2%) of the sale price =
<br /> then to the payment of the obligation secured by the Deed of`I'rust and the balance,if sny, t� the person or
<br /> persons legally entitled thereto.
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