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<br /> owner of the property,(h)a transfcr into un inter vivos trust in which the Borrower is and remAins a beneficiary and I ,:::��;::_�
<br /> �which doe.g not rclate to n transfer of righte of occupancy in the property,or (i) any other tran�fer or disposition i : a',
<br /> �described in regulatians prescribed by the Pederal f3ome 1.oan Bank Hoard, Borrower shall cause to be stibmitted , ,. ,
<br /> ��nformation required by I.ender to evaluate the trans feree as i f a new lo a n w e r e b e i n g m a d e ta the transferee. Borrower I ,���:'-_
<br /> �w�ll continue to be obligated under the Note and this Deed of'1'ruat unless Lender release.s Horrower in H�riting. � �
<br /> � If Lender does not egree to such sale or transfer,I,ender rnay declare all of the sums secured by thie Deed of'I'ruat ta y�4 i--
<br /> �bE immediately due and payable. If Lender exercises such optian to eccelerate, I,ender shall mail Horrower notice of ,,�y�:_
<br /> acceletation in accordance with paragraph 12 hereof. Such notice shall provide a period of not less than 30 days from the , _.,,
<br /> � date the notice ia mailed or dalivered within which Aorrower may pay the sums declared due. If I3orrower fails to pay ,�?;--
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<br /> ' " .,� �`suc:h �ume prior to the expiration af euch period, Lender may, without further notice or demand on Barro�vec, invoka ,,�.^ __
<br /> .- any remedies permitted by paragraph 17 hereof. � ����
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<br /> ," NON'UNIFORM COVENANTS. Iiorrower and I.ender further covenant and agree ea follows: ,:,��
<br /> � 17. Acceleration;Remedies. Except as provided in paragrsph 16 hereof, or as otherwise required by law, l,.�
<br /> upon Borrower's hreach of any covenant or agreement of Borrower in this Deed of Trost, iacluding _
<br /> Borrower's failure to pAy, by the end of ten (10)calend�r days after the date they ere due, any sums secured
<br /> by this Deod of'i'rust. Lender prtor to ncceleration ahall givo notice to Barrowar ae provided in paragrnph l2 _
<br /> her�o[apecifying: (I) the breech; (2) the action required to curr such breach; (3) a date, not less than 20 days
<br /> ' from the date the notice is mailed to Aorrower, by which sucb breach must be cured; and (4) that failure to ;.�._�
<br /> cure such brcach on or beforc thc date spccified in the notice may result in acceleretion of the sums secured
<br /> by this Dead of Trust and sale of the Prop�rty. The aotice shall further inform Borrower of the right ta :=,_�
<br /> ireinstete efter�eceleratton end the right to bring court action ta ass�ert the nonexist�nce of n defaiilt �r any
<br /> I othor defense of Horrower to acceleration and sale. If the breach is not cured on or before the date apeciiied -_
<br /> in the notic�e, Lender, at L,ender's option, may declare all of the sums secured by this Deed of Trust to be --
<br /> .� � immediately due end payable without further demand and msy invoke thc power of sale and any other —_
<br /> � remedies permitted b� applicable law. I,ender shall bo entitled to collect all costs and expenses incurred in .:,�__
<br /> I pursuing the remedies provided in this paragraph 17 to the extent permitted by epplicable law. ���
<br /> �.; If I.ender invokes the power of salc, I.endar or Trustee shell nnail copies of a notice oi s�le in the maaner
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<br /> prescribed by applicabla law to Borrower and to the other persona prescribed by applicabl� law.Trusteo ehall .�;,�-
<br /> , �•�_�._
<br /> . ,� ; give notice of ssle by public advertisement for the time and in the manner prescribed by applicable law. xYrJ
<br /> Trustee, without demand on Borrower, shall sell the Praperty at public auction to thc highest bidder for caeh ' k*�_
<br /> � �� at the time and plico and under the terms designated in the notice of sel�in one or more p�raels and in such �:
<br /> ' order as Trustee rn�y determina lrustee may posipuuc asie ai al!cr atsj gstca! of the Pro�+�rty to any lster �} •�.�
<br /> time on the s�inc date by public announcement at the time and pl�ca oi any previously schcduled sale. , _ �;
<br /> Lender or Leader's designee may purchase the Property at any sal�. _ -- -
<br /> ' . Trustee shxll deliver to the purchaser Truatee's deed conveying the Property so sold without eny covenant
<br /> � or warranty. expcessed or implied. Tho recitals in the 'I'ruetee's deed shall be prima f�cie evidence of the
<br /> truth oi tho st�tements made therein. Truste� shalt apply the procceds ot the sala in the lollowiag ordor: (a) ���
<br /> �r to all reesonable costs and expenses of the sale, including, but not limited to, recsonable Trustee's fees �nd
<br /> �• attorneys' fees and costs of title evidence; (b) to all sums secured by this Deed of Trust; �nd(c)tho excesa, if ��,—��
<br /> - " ' any, to the peraon or p�rsons legally entitled thereto. --
<br /> •� 18. Borrower's Right to Reiastete. Notwithstanding Lender's acceleration of thv sums secureci by this Deed of
<br /> � 'Trust due to Borrower's breach, Borrower shall have the right to have any proceedinga begun by Lender t� enforce thie —
<br /> � Deed of'Prust discontinued at any time prior to the earlier to occur of (i) the fifth day before the sale of the Propatty
<br /> pursuant to the power of sale contained in this Deed of Trust or (ii)entty of a judgment enforcing this Deed of Trust if: _
<br /> y (a) Borrower pays Lender all sums which would be then due under this Deed of Trust and the Note had no acceleration
<br /> � occurred; (b) I3orrower cures all breaches of any other covenants or agreemente of Borrower contained in this Deed of t_-
<br /> ; Trust; (c) Borrower pays all reasonable �xpenses incurrcd by I.ender and Trustee in enforcing the covenante and __ �
<br /> � agre�ments of Borrower contained in this lleed of Trust, and in enforcing L.ender's and 'Trustee's remedies ae provided
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<br /> in paragraph 17 hereof. including,but not limited to,reasonablc attorneys'fees to the extent permitted by applicable la�v; ,_T
<br /> and (d) Borrower takes such action as I,ender may reasonably require to assure that the lion of this Deed of "Trust, ''
<br /> I,ender's interest in the Property nnd I3orrower's obligation to pay the sums secured by this Deed of Trust shall contiuue �;,q;�;�__
<br /> • unimpaired. Upon such payment and cure by Iiorrower, this Deed of Trust and the obligations secured hereby ehall " '-----
<br /> remain in full force and effect as if no acceleration had accurred. ���~� �9=�T
<br /> 19. Assignment of Rents; Appointment of Receiver; Londer Yn Possession. As additional security hereunder, `:a,'.�.,;.' • .�;;-.
<br /> Borrower hereby assigns to Lender the rents of the Property, provided that$orrower shall, prior to acceleratian under � � `• '''�
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<br /> paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due _::;;, ;::Y'�-
<br /> and payable. •
<br /> Upon acceleration under paragraphy 17 hereof or abandonment of the Property, Lender, in pers�n, by agent or by
<br /> � judicially appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect
<br /> � the rents of the Property including those past due. All rents collected 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 not limited to, receiver's
<br /> fees, premiums on receiver's bonds and reasonable attorneys' fees,and then to the sums secured by this Deed of'I'rust.
<br /> I.ender and the receiver shall bc liable to aceount only for those rents actually received.
<br /> 20. Release.L1pon payment of all sums secured by this Deed of 1'rust, and, if this I�eed of'Prust secures a Revolving
<br /> I,oan Agreement, Horrower requests I,ender to release this Deed of 'I'rust, Lender shal] cause this l�eed of"rrust to be
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<br /> , released without c;harge to lsorrower. riorrower si�aii puy aii�..b�.+�.,� �cca,..ot.�:,.. �^,. - -------_---_—
<br /> 21. Substitute '1'rustee. I.ender, at I,ender's option, may from time to time appoint o suceessor trustee tv any
<br /> , '�'rustee appc�inted hereunder by an instrument recorded in the county in which this I)eed of "I'rust is recorded. Without
<br /> _ com�eyance of the I'roperty, the suceessor trustee shall succeed to all the title, puwer and duties cc�nferred upon the
<br /> 'I'rustee herein and by applicable la�ti•.
<br /> - 22. Request for Notices. Borro�ver reyuests that copie;s uf the notice of default and notice of sale be sent to
<br /> }�orro�+�cr's addre:�.ti��•hich is the I'rope:rty� Address.
<br /> � 00•30•94 Duad ol Trus�NE ORIGINAL I I � NE0079]4 �
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