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<br /> owner of the property, (h) a transfer into en inter vivos trust in which the Bormwer is nnd remains n beneficiary and .�
<br /> Iwhich does not relate to a transfer of rights of occupancy in the property,or (i)any other trensfer or dispc�sition j Q+
<br /> , described in regulations prescribed by the I'ederal f iome I,oan bank Roard, �3orrower shall cause to be submitted
<br /> � � information required by l.ender to evaluate the tranaferee as if e new loan were being rnade to the transferee. 13orrower � ���
<br /> will continue to be obligated under the Not� and thia lleed of 'I'rust unless I.ender relcases I3orrower in writing. ..��5��
<br /> � � 1f I.ender doea not agree t�auch sale ar trnnsfer,I.ender may declare all of the sums secured by this Deed of"frust to {' �_�
<br /> + be immediately due and payable. If I.ender exercises such option to accelerate, I.ender shall mail Aorrower notice of ,�s.
<br /> � acceleration in accordance with paragraph 12 hereof.Such notice shall providC e pariad of not less than 30 days from the ` __
<br /> .--••-"' � "' date the notice is mailed or delivered within which IiurroN�er may pay the sums declared due. If �orrower fails to pay ���
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<br /> �`' i �� � such surne prior to the expiration of such period, I.ender may,without further notice or damand on Aorrower, invake •;.___
<br /> . any remediea permitted by paragraph 17 hereaf. ''"�'�11.
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<br /> •• NON-UNIFORM COV�:NAN'TS,Aorrower and I,ender furthercovenant and agree as follows:
<br /> 17.Acceleratiun; Remedies. Exc�pt as provided in par�graph 16 hereof, or as otherwise required by law,
<br /> I . upon Borro�ver's breach of any covenant or agreement of �orrower in this Deed af Trust, including :,,t4__; .__�-.
<br /> ;I Barrower's failure to pay, by the end of tcn (10) celend�r days aiter the date they are due, any sums secured ___
<br /> . i� !*1 by this Deed of Trust, I.ender prior to nccaleration shall give notice to Borrow�r as provided ia paragraph 12
<br /> 1 � hereof specifying: (1) the breach;(2)the ection required to cure such breach; (3)a dste, not less than 20 days .:�:�__
<br /> 3 }; from the date the notice is mailed to liorrow�r, by which such breach must be cured; and (4� that failure to , -_
<br /> � � cure such breach on or before the date specified in tho notice may resalt in acceleratioa ot the aums secured �:
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<br /> � by this Dccd of Trust and snle ot tha Property. The notice ahall further iniorm Aorrower of the right t4 �T-.`
<br /> � reinstaie aiter accoleration and the right to bring court action to assert the nonexistence of a default c�r any .r��
<br /> I ' other d�fense of Borrower to acceleretion and salo. I[ the breach is not cured on or before the date specified .ry
<br /> ' in the no�ice, Lender, at I.ender's option, may declare all of the sums secured by this Deed of Trust to be '`s
<br /> �' �� �j immedietely due and payable �vithout {urther demand end may invoke the power of sale end any other ,
<br /> F remedies permitted by applicable lasv. Londer shall be entitl�d to collect all coots end expensea incurred in •��..
<br /> '�� purauing the remedies provided in this pnragreph 17 to the extent permitted by applicablc law. —
<br /> It I.ender invokes the power of sale, I,ender or Trustee shall meil copies of e notice of snle in the manner
<br /> � prescribed by applicable law to Borrower and to tho other persons rescribed by applic�ble law. Trusteo shsll
<br /> give notice of sele by public adv�rtisement tor the time and in ho msnner prescribed by applicable law. �°'
<br /> ' Truetec, without demand on Iiorrower. shall sell the Property at public suction to the highest bidder for cash _
<br /> _� = at ihc limc and glaee an�i !�n�1�r the terms designatod in the notice of stle in one or more parcols and in auch
<br /> ` order as Trustee may d�termublirranouncementtat the t me and place ofr nY pro io slyeschedul�d sale.
<br /> time on the same data by p
<br /> '� Lender or Lender's designee may purchase the Property�t any sale,
<br /> `�' Trustee shall deliver to the purch�ser Trustee's deed conveying the Property so sold without any covenent
<br /> nr warranty, expressed ar implied. The recitals in the Trustee's deed shall be prima facie evidence of the
<br /> ' truth of thc statements made therein. Truateo shel[ apply the praceeds of the sn!e in the tollowing order: (n) �----- -
<br /> �� � to ell reasonable costs and expensos of the sale, including, but not limited to, re�sonable Trnstee's fees and �
<br /> attorneys' feea and costs of title evidence; (b) to all sams secured by this Deed of TruAt; and (c) the excess, if -
<br /> any, to the person or porsons legally entitl�d thereto.
<br /> 18. Borrower's Right to R�instate. Notwithstanding I.ender's acceleratinn of the sums secured by this Deed ot
<br /> �' Trust due to Borrower's breach, Borro�ver shall have the right to have any proceedinge begun by L,ender to enforce thie
<br /> ' D e e d o f'T r u s t d i scontinued nt an y time prior to the earlier to occur of(i) the fifth day before the sale of the Property
<br /> .. � pursuant to the power of sale containe.cl in this lleed of'1'rust or (ii) entry of a judgment enforcing this D e e d o f'Trus t i f: —
<br /> (a)Borrower pays I.ender all sums which would be then due under this Deed of Truat and the Note had no acceleration -
<br /> � �� occurred; (b) IIorrower cures all breaches of any other covenants or agreements of Aorrower contained in this Der,d of �,__
<br /> � ` Trust; (c) Borrower pays all reasonable expenses incurred by I,ender and "3�rustee in enforcing thv covettantra and k-�---
<br />' , � � agreements of Borrower contained in this Deed of 1'rust, and in enforcing I.onder's and Trustee's remedies as provided �
<br /> , � in aragraph 17 hereof,including, but not limited to,reasonable ottorneys' fees to theextent permitted by applicable law; ���_,-`_—
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<br /> , ` � and (d) Borrower takes such action as Lend�r may reasonebly require to essure that the lien of this lleed of 'Trust, �Y�j,
<br /> Lender's interest in the Yroperty and Iiorrower's obligation to pay the sums secured by this Deed of Truat shall continue �#��,_� ,�__ _
<br /> unimpaired. Upon such payment end cure by Aorrower, this Deed of Trust and the obligations secured hereby shall �i .x�=_-.
<br /> remain in full force and effec:t as if no ecceleration had occurred. �•��i T.°,:
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<br /> 19. Assignment of Rents; Appointment of Receiver;Lender in Possession. As additional security hereunder, ` . .�,,,.�
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<br /> Borrower hereby assigns to I,ender thc rents of the Property,provided that I3orrower shall, prior to acceleration under • ��-'
<br /> paragraph 17 hereof or abandonment of the Yrr�perty, have the right to collect and retain such rents as they become due "�'�':`:
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<br /> and payable.
<br /> � Upon acceleration under paragraphy 17 hereof or abandonment of the Property,I.ender, in person, by u�ent or by
<br /> judicially appointed receiver,siiall be entitled to enter upon,take possession of and manage the I'roperty and to r.ollect
<br /> � the rent,s of the Yroperty including thuse past due. All rentscollected by I,ender or the receiver shall be applied first to
<br /> payment of the costs of management of the I'roperty and collection of rents. including, but nnt limited to, receiver'�
<br /> jfces, premiums on receiver's bonds and reasonable attorneys'fees, and then to the sums secured by this lleed of Trust.
<br /> I,ender and the receiver shall be liabl e to account only for those rents actually ru;eived. I
<br /> 20. Release. Upon payment.of all sums secured by this Iked of'I�rust, and, if this]�eed of'I'rust secures a Revolving
<br />- � �.,o., .1 ure�rmrnt Rnrnnver reaue,ts I.ender to release this Deed of '1'rust,I.ender shall cause this Deed of "I'rust to be i
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<br /> releaseci �eithout c:harge to Bormwer. Borro���er shall pay all costs oF ree:nrdxtion,if any.
<br /> 21.Substitute 'Trustee. I,ender. at I,ender's option, may from time to time appoint a successor trustee to any
<br /> . � 'I'rustec appointed her��under by an i nstrument recorded in the cc�unt��in a•hich this I)eed c>f'l�rust i5 recorded. �Vithout
<br /> � conveyunce of the Pr<�perty, the suc:cessor trustee shall succeed to all the title, power and dutic;s conferred upon the
<br /> 'frustee herein and by applicable law. I
<br /> � 22. Request for �iotiees. }3orrc�x•er requ�.sts that copi�.s of the notice of default and notice of sale be sent to
<br /> Rurrower's address whieh is the 1'm�erty Address. I
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<br /> � 06•30•94 Dood o1 Trunt NE ORIGINAI IIIIIIIUIIIIIII�II�IIIIIIIIIIIIIIIIIIIIII�IIIIIIIIII4II'IIIII1IlII1II11IIIIIIIIIIIIIIIIIII�IAllllllll NE007924 I
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